As I said in the previous sections of the Short Sale Series, these sale types are a great buying opportunity, but require time and patience.

The seller of a short sale is typically in a more distressed situation.  My job is to help alleviate the stress of selling their home.  Although there are no proceeds going to the seller, the seller must be proactive in the sale as well which also requires time and patience.

The seller is attempting to make good on their debt and find a solution for them and the lender.  Due to some circumstance, possibly loss of income, disability, forced relocation, death of a loved one, not having the ability to pay their bills weighs heavily on the sellers.

I have heard comments from people stating that "these people"…

1301 Views, 0 Comments

Read Full Post

Private mortgage insurance provides protection to a lender in case you default on your home loan. Unless you make a 20% downpayment on a house, you’ll most likely be required to purchase PMI. PMI premiums on a median priced home ($198,100 in 2008) can run between $50 and $100 per month, according to the Mortgage Insurance Companies of America.

PMI might be unavoidable, but it isn’t eternal. Knowing exactly when you’re entitled to cancel coverage can save you a bundle. If you own a median priced home, you’ll pocket between $600 and $1,200 for each year’s worth of premiums you can avoid. That extra cash can be used to pay down your principal instead.

When PMI is cancelled automatically
Though often maligned, PMI plays an important role. Many aspiring…

2176 Views, 0 Comments

Read Full Post

Enjoy some active time with your family with some local free events.

February 3

Albquerque Museum of Art & History, Free Day 9am-5pm 2000 Mountain Road NW, a free day at the museum! Do a lot of walking. 243-7255 www.cabq.gov/museum

February 7

Bosque Wild Sunday Morning Hike, Free 7:30 am, Open Space Vistor Center 6500 Coors NW, 1.5 hour guided walk in the Bosque, max 20 people, pre-register suggested 897-8831

Superbowl Touchdown for Homeless 10K/5K Run, 11am celebrate the big day & back in time for the game, go to active.com & key in "Superbowl Touchdown"

February 13

27th Annual Mt Taylor Quadrathlon, Grants, NM, New Mexico's premier witner sports event, mttaylorquad.org

February 14

Sweetheart Run VII 10K/5K, a loving run along the Rio Grande, go…

1633 Views, 0 Comments

Read Full Post

Buying Short Sales -

If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.

A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for buyers. Know the risks before you pursue a…

1316 Views, 0 Comments

Read Full Post

Here is a calendar of events brought to you by Duke City Fit that will be fun for the whole family. The events included are free up to $25 and located in the Albuquerque and surrounding area.

January 3

Bosque Wild Sunday Morning Hike, Free

7:30 am, Open Space Vistor Center 6500 Coors NW, 1.5 hour guided walk in the Bosque, max 20 people, pre-register suggested 897-8831

January 6 

Albquerque Museum of Art & History, Free Day

9am-5pm 2000 Mountain Road NW, a free day at the museum! Do a lot of walking. 243-7255 www.cabq.gov/museum

Juanuary 9-10

Elias-Axel Pettersson in Concert, Free

7pm both nights, classical piano conderts, at Charles Pianos - 5000 Menaul NE, 899-81-80 reservations

January 17

Full Circle Roundup Run, 9am, 10K/5K/kids run, flat…

1391 Views, 0 Comments

Read Full Post