Sellers

By Eva Medcroft, Editor for NewMexicoHomeSearch.com

In 2010, the Consumer Financial Protection Bureau was created under the Dodd-Frank Act. The purpose was to create a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives.

When financing a home, CFPB’s goal is to ensure home buyers are engaged, prepared and knowledgeable so they are more likely to achieve successful, sustained homeownership.

To empower home-buying consumers with the information they need to make informed mortgage choices, the CFPB has implemented of the TILA-RESPA Integrated Disclosure rule, which is often

There are many aspects to a REALTORS®' job as your listing agent. If you are selling  your home, they provide a series of services to ensure your property sells as quickly as possible for the best price possible.

Here are just a few examples of what REALTORS® do for you as a listing agent:

• Produce Comparative Market Analysis (CMA) reports to recommend the most competitive selling price so your property doesn’t sit too long.
• Advise you on staging your home to get a better price
• Coordinate professional photography of your house.
• Create a marketing plan for your property.
• Recommend contractors and vendors to help prepare your home for market.
• Promote the benefits of your house and neighborhood to potential buyers.
• Coordinate

Public Improvement Districts (PIDS)

Public Improvement Districts (PIDs) are created to help developers finance infrastructure in new communities such as roads, parks and other amenities.

Bonds are sold to finance these improvements and property owners are each assessed a portion of the bonds. This assessment is added to an owner's property tax bill and paid off over time.

New Mexico state law requires that sellers of homes within PIDS disclose certain information to the buyer before accepting offers. There are currently 11 PIDs in the Greater Albuquerque Area.

Photo Credit: Kitecsettlement.com

During the housing boom from 1995 to the downturn in 2007, thousands of homes were built in Rio Rancho and Albuquerque’s west side.  Many of those new homes installed Kitec plumbing fixtures.

Even though Kitec was recalled in the late 1990’s, some New Mexico builders continued to use the product. This has left many Albuquerque and Rio Rancho homeowners at risk of structural damage and massive flooding. Because of the type of damage it can cause, Kitec repairs can range upward of $20,000.

In this multi-part series, we will provide you with information you can pass on to your clients and information you need to know as a REALTOR® about disclosure requirements for legal cases like Kitec Plumbing

Whether you’re building the home of your dreams or looking for an existing unit, there’s a lot of data involved in finding the right environmentally friendly dwelling. Here’s a breakdown of the different certification systems for energy-efficient homes.

RESNET

The Residential Energy Services Network is a not-for-profit corporation that develops industry-wide standards and rules for energy efficiency ratings and certification systems for buildings. In addition to overseeing the HERS index (see below), RESNET certifies contractors of all types, including builders, roofing and siding professionals, and remodeling contractors.

HERS index

The Home Energy Rating System is an index measuring a home’s energy efficiency. An average home built to

These tips will help you convince buyers your property offers top value for their dollar.

Amp up curb appeal.

Look at your home objectively from the street. Check the condition of the landscaping, paint, roof, shutters, front door, knocker, windows, and house number. Observe how your window treatments look from the outside. Something special—such as big flowerpots or an antique bench—can help your property stand out after a long day of house hunting.

Enrich with color.

Paint is cheap, but it can make a big impression. The shade doesn’t have to be white or beige, but stay away from jarring pinks, oranges, and purples. Soft yellows and pale greens say “welcome,” lead the eye from room to room, and flatter skin tones. Tint ceilings in a

Be prepared and know who's responsible for the variety of fees and expenses at the closing table.

I am thinking of moving and can't decide whether to sell or rent my current home. Any advice?

There are many things to take in to account when making the decision to sell or rent your home. The first step would be to have your REALTOR® perform a Comparative Market Analysis (CMA) which will give you an estimate of your home’s value. If you are thinking of renting, make sure you are comfortable with the idea of being a landlord. If you do not want to handle the potential home repairs and emergencies that crop up, you may choose to hire a property management company for a fee or elect to sell your home. Contact your REALTOR® today to help make the decision that’s best for you.

Why would I need a REALTOR® when I could just sell my own home as a FSBO (for-sale-by-owner)?

REALTORS® will do a market analysis so that your home is priced to sell. As REALTORS®, they will market your home on the Multiple Listing Service, where it is seen by approximately 2,900 other REALTORS® who may have a buyer for it. It is also sent to a number of other marketing sites and home searches. Lastly, for most of us, our home is our largest asset, and a REALTOR® can guide you through the process - from accepting offers to making sure all necessary disclosures are done.

Here are a few items to take care of before listing your home. This can make the sale process quicker and easier in the long run.

• Consider a pre-sale home inspection.
  An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.
• Organize and clean.
  Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and seasonal items. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
• Get replacement estimates.
  Do you have big-ticket items that will