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…

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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…

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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…

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Village at Rio Rancho Tax Increment Development District

The City Council approved on December 16, 2009 a TIDD that will allow one developer to recoup the cost of the infastructure through gross receipts tax generated by the development.  The project will cost approximately 11 million dollars to complete.

The developmet will be near the new Presbyterian Medical Center near Unser Boulevard and Black Arroyo in the southern part of the city.

The new prjoect slated to begin construction July 1st with construction of the buildings to start the first part of 2011 will consist of “a lifestyle retail project consisting of about 300,000 to 400,000 square feet, similar to the project in Albuquerque known as ABQ Uptown; the project will also feature a couple…

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TIPS TO GET GOOD FORECLOSURE DEALS

Foreclosure rates are spiking and brewing up a hot market for investors and buyers. To get the best deal possible, follow these tips:

1. Timing is everything. In New Mexico borrowers often are given a chance to avoid foreclosure with a redemption period, typically two to three months, to pay off the amount they owe and redeem the property. The borrower may opt to sell the property during this pre-foreclosure stage if they can’t make up their missed mortgage payments. This is typically the best time to strike a deal, as home owners are looking for ways to avoid foreclosure. Another prime time to buy: prior to an auction date.2. Look in the right places. Follow the foreclosure trail. Title companies, banks, purchase…

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Foreclosure in New Mexico

To fully understand the Short Sale Process it is important to know the potential process of foreclosure.  These answer's below will help you to understand the difficulties and obstacles in the short sale process.  

How are New Mexico mortgages foreclosed?

In New Mexico, the lenders go to court in what is known as ajudicial foreclosure proceeding where the court must issue a final judgment of foreclosure. The property is then sold as part of a publicly noticed sale. The court with jurisdiction over a foreclosure is known as the District Court in the county in which the property is located. A complaint is filed in this court along with what is known alis pendens. A lis pendens is a recorded document that provides public notice…

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Short Sale Basics 

Short Sale - A simple definition is a sale of real estate in which the net proceeds are short of the balance owed on the property's loan.

In my experience a short sale situation occurs when there is a loss of job, divorce, forced relocation, and illness. This usually stem from loss of home value because if there was value in the home then there would not be a short amount.  There are a number of reasons that a person may be unable to maintain their mortgage payments and has fell on Realtors to help homeowners through these situations and sell their real estate.  Maintaining dual households can drain your finances quickly.  It is important to understand that most people will exhaust all resources trying to pay their mortgage payments…

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Holiday Wine Tasting Event 

Prepare your palette for a wine tasting event featuring over 55 boutique wines, micro-brewed beers and Albuquerque's finest restaurants.  Entertainment from the Martinitones and DJ Cassyle and a chance to win fabulous electronics from Paradise Village.

The event will be held at the National Hispanic Cultural Center Thursday, December 10 5:30 - 9PM. Tickets will cost $30.

Click here to see the list of participating wineries...

A portion of the proceeds to benefit Watermelon Mountain Ranch

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In a typical relocation the spouse that does not have a job was able to use their projected income combined with the relocating spouse income when applying for a mortgage which would help determine housing affordability.

FNMA had announced it will disallow inclusion of 'trailing' income.  What does this mean?  It means that this secondary trailing income will not be allowed which will reduce the affordablility of the couple's next home.  According to RISMedia 70% of all corporate relocations are dual income so the effect on these relocations is significant.  This rule change seems to stem from current economic conditions and the availability of employment.

As a Realtor® with years of helping families relocate I must work even closer with these families…

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