NewMexicoHomeSearch.com Blog

This blog is written to bring to your attention some often-problematic issues with selling/buying a house, specifically existing leases.



SOLAR AND SECURITY LEASES:

Did you realize there are leases that can create issues during the purchase and sale of a house?  These can include the solar system leases, and less thought of, the security system leases.  Pre-existing leases should always be disclosed in a property disclosure by the seller, and need to be dealt with in order to prevent delayed closings and even potentially failed transactions.  When a lease exists, there are some options:

1- the seller can try to terminate the lease early and potentially pay any penalties involved, as well as have the system removed prior to closing, ideally prior to

39 Views, 0 Comments

Whether you are a first-time buyer, or looking to upgrade, buying a home is an exciting time. But, before you download all those home buying apps and start imagining yourself in each beautiful home you see, read these tips to streamline your mortgage process.

  1.      Choose A Reliable Mortgage Lender

There are so many options when you are looking for a mortgage loan, from big banks and finance companies, to local banks and credit union.  There are several advantages to choosing to finance with a credit union over your other options.

  •        You can save money. Credit Unions will typically offer the lowest rates, which can save you a ton of money over the life of your loan.  They may also offer lower closing costs than you would find at a big
144 Views, 0 Comments

To manage your biggest asset, create a financial plan that covers repairs, upgrades, mortgages, insurance, and taxes.

Do you pay each home-related expense as it comes? If so, you’re missing opportunities for upgrades, or much worse, heading into a financial crisis when a slew of surprise maintenance items hit. So take a holistic look at what it costs to operate your house and set up a home financial plan.

Use our home financial plan budget worksheet, and start by writing a list of expenses, such as:

  • Mortgage
  • Taxes
  • Home insurance, including liability
  • Repairs and maintenance, such as new furnace, roof, painting
  • Voluntary upgrades, such as a swimming pool, a premium range, a new powder room
  • With this newfound grip on your home’s

50 Views, 0 Comments

Thinking of selling your home and worried you’ll regret it? Here’s how to cope.

Selling your house can be scary: It's been your home, where you've lived and made memories. Chances are good it's your most important asset and your biggest investment so far. Wrestling with the emotional heft of putting your home on the market is a difficult byproduct of real estate -- but once a closing date has been set, the hard work is done. Right?

Actually, it's not uncommon for sellers to feel pangs of regret when a buyer gets serious. If you're feeling remorse for your soon-to-be-former home, don't panic: You're far from alone.

“When you're selling a house, you're not selling an object," says Bill Primavera, a REALTOR® in Westchester County, N.Y., and

82 Views, 0 Comments

New Mexico has many hot springs. But few locations can challenge the experience at Ojo Caliente Mineral Springs Resort & Spa.

The varied pools and springs can match your preferences in temperature and mineral content, and the pampering extends well beyond the healing waters and the magical mud. The NM True TV Crew get a sampling of everything Ojo offers. It is such a difficult job they must have, huh?

Source: "NM True TV - Ojo Caliente"

76 Views, 0 Comments

Real estate negotiation tips so you can buy your dream home — and not overpay.

You've looked at enough houses to fill an entire season of House Hunters and finally picked one to buy. Now you're ready to make an offer.

Your agent can help guide you through this nail-biting phase of negotiating a house price, but ultimately, you call the shots. Here's how to negotiate like a boss.

Fail #1: Thinking House Price is All That Matters

That house with a price point $15k below your budget? It may seem like a deal — until you add on the costs of maintenance and replacing the aging appliances.

Planning on repainting, remodeling, or landscaping, too? Suddenly the price looks a whole lot higher.

When developing your offer, calculate in the costs that

57 Views, 0 Comments

Telltale signs you’re flubbing homeowner maintenance, like parking on grass.

Image: HouseLogic

You've closed on your first home. You got your keys. You got your rose-colored glasses. When you're a new homeowner, excitement, optimism, and simply not-knowing-what you-don't-know can make you look right past big problems in plain sight.

Discover some advice for new homeowners with this illustration of a home that has nine maintenance problems. Can you spot all nine?

See full set of answers here: https://www.houselogic.com/organize-maintain/home-maintenance-tips/advice-new-homeowners/

Source: "Spot the 9 Problems With This House (Advice for New Homeowners)"

   
72 Views, 0 Comments

Good neighbors are REALTORS® and affiliates that dedicate themselves to volunteer service. The GOOD Neighbor Awards program not only recognizes individuals and their charities for their good works but also helps the public understand the positive impact that realtors have on their community.

Beginning in 2015, the Good Neighbor Awards initiative was created by the National Association of REALTORS® to engage with the community. Realty One of New Mexico broker Keith Powell was selected as one of the five GAAR Good Neighbor award winners this year.

Keith spent many years volunteering for the New Mexico Cancer Center Foundation and has served on the Foundation Board for nine years and served as Board President for four. Anyone who’s involved in real

103 Views, 0 Comments

Good Neighbors are REALTORS® and Affiliates that dedicate themselves to volunteer service. They donate gifts, money, and – most importantly –  a lot of time to their charity.

Congratulations to Michael Skolnick, one of five GAAR Good Neighbor recipients for 2019. Michael is an integral part of the Del Norte Rotary Club raising thousands of dollars for their non-profit Foundation. Each year, Michael raises an average of $40,000 which has culminated to over $500,000 throughout the years. These funds are then distributed to a variety of local charities throughout Albuquerque. In addition, Michael has volunteered his time to chair the Del Norte Rotary Club Golf Tournament for 23 years! GAAR members are proud to recognize Michael Skolnick as a 2019 Good

122 Views, 0 Comments

Painting your home is a wise investment in time (if you DIY) and money. Here’s how much it’ll cost you.

There's nothing like a fresh coat of paint to boost curb appeal and make an entire home feel fresh. But exactly how much does it cost to paint a house? 

Here's everything you need to know about the costs of painting your home’s exterior and interior.

Average Cost to Paint a House

House-painting costs can vary significantly depending on your home's square footage, where you live, and who is crunching the numbers.

But the pros at the trade organization Painting and Decorating Contractors of America (PDCA) can make a pretty good estimate. These are their ballpark figures for the average cost to paint a house, including labor and materials.

97 Views, 0 Comments