Information regarding the Great State of New Mexico. News and Happenings across the State.

How it Works

A 3-2-1 buydown is a concession to the buyer that reduces the buyer's interest rate and monthly payment for the first three years of homeownership making the home more affordable. In the below example, the seller agrees to finance three years of a lower interest rate for the buyer.

  1. The interest rate for Year 1 is reduced by 3 percentage points
  2. The interest rate for Year 2 is reduced by 2 percentage points
  3. The interest rate for Year 3 is reduced by 1 percentage point
  4. Year 4-life of loan are subject to the original interest rate

The cost to the seller is based on the note rate minus the 3% for the first 12 months and the same for the 2% (13-24 months) and the 1% (25-36 months). To get the total cost from the seller, add…

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#1. Early payoff hacks 

There are several early payoff hacks that homeowners can take advantage of:

Make 1 extra loan payment each year

How it Works

By making one extra payment per year, a homeowner can reduce the amount of interest they will pay over the life of the loan and the duration of the loan. In this example, the monthly payment is $3,160, so by making 1 extra monthly payment of $3,160, the mortgage will be paid off six years ahead of schedule and net over $156,000 in savings.

Tip: By making the extra payment in January, you are hacking the total number of days the mortgage is collected on.

Using the following terms:
Mortgage Term - 30-year Interest Rate - 7% Loan amount - $475,000 Monthly payment - $3,160

Extra Mortgage Loan Payment

#2. EARLY…

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#1. Buydowns

This Playbook Series is designed to explain several mortgage programs available today as well as some hacks to help those with current mortgages pay less over time.

There are a few common buydown products that clients can take advantage of, including an Interest Rate buydown, 3-2-1 buydown and a 2-1 buydown. While the following examples reference sellers paying for the buydowns specifically, buyers or lenders can also pay for interest rate buydowns.

Interest Rate Buydown

How it Works
A rate buydown is a way to pay for a lower interest rate by purchasing discount or mortgage points.

Value to Clients

Buydowns can be a benefit to both buyers and sellers. Sellers get a competitive advantage and buyers get to make a one-time…

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This may be the best time!

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March 2024 Market Stats

  • Highlights (the highlights are a comparison between March 2023 and March 2024
  • Median detached home price increased 3.7 percent to $351,000
  • Average detached home price increased 2.8 percent to $396,556
  • Overall inventory of detached homes for sales increased 10.3 percent to 1192

Additional Reports March 2023 Showings Report March 2023 Local Market Snapshot Reports (by zip code & MLS Area) 

Full Market Report

Green Market Report

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La Cuentista Pulte Homes

Discover the pinnacle of modern living at Estates at La Cuentista, Albuquerque. Crafted by Pulte Homes, this community offers a harmonious blend of luxury and serenity. With meticulously designed homes, top-notch amenities, and a prime location, residents can immerse themselves in the beauty of Albuquerque while enjoying unparalleled comfort. Whether you seek relaxation by the poolside or adventure in the nearby mountains, this community promises a lifestyle of sophistication and convenience. Experience elevated living at Estates at La Cuentista, where every moment is infused with tranquility and charm. Click here for more information including floor plan, map and site plan

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February 2024 Market Stats

Highlights are a comparison between February 2023 and February  2024

  • Median detached home price increased 4.8 percent to $340,458
  • Average detached home price increased 6.8 percent to $389,869
  • Overall inventory of detached homes for sales increased 7.7 percent to 1110

February Reports  

  • Green Sheet
  • Full Market Report
  • Showings Report  
  • Local Market Snapshot Reports (by zip code & MLS Area)  PLEASE CONTACT SWMLS Help Desk for this file at          

Courtesy and Reference

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Discover Carriage Cove: your gateway to luxury living in Rio Rancho by Hakes Brothers

Nestled amidst stunning mountain vistas, our new homes offer elegance and convenience like never before. With easy access to the Santa Ana Star Center for entertainment and close proximity to Rio Rancho's largest employers such as Intel, Hewlett Packard, and Presbyterian – Rust Medical Hospital, your daily commute is a breeze.

Experience the best of both worlds with our prime location offering quick access to shopping and Rio Rancho's finest restaurants.

Choose from our range of homes featuring open-concept floor plans, modern designs perfect for first-time homeowners and young families, and customizable options to make your living space truly yours.


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Have you ever paused to ponder the meaning behind the name of your home state or city capital? It's a fascinating journey through history, often revealing stories of conquest, homage, or cultural significance. From the bustling streets of New York City to the serene landscapes of Boise, Idaho, each name carries its own unique tale waiting to be discovered. Let's delve into the historical meanings behind some of these prominent names – prepare to be surprised!

Etymological Map of America

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