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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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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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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