Call or Text (505) 379-5849 ... AbqDunn@gmail.com ... www.AbqDunn.com
Just like clock work our latest edition of the welcome home magazine is out. It is our print publication of all of our homes for sale. As part of our service, All of my homes for sale go in this magazine every publication until your home is sold! Contact me and Im happy to mail you a copy of it free of charge!! Call/Text/Email me your address and I will drop it in the mail. (505) 379-5849 AbqDunn@gmail.com
This months welcome home magazine just came out and it is the special horse property edition! All horse property are marked for ease of searching. Every home I list for sale is listed in the welcome home magazine free of charge to all of the sellers I work with. Contact me and I will mail or drop off a copy for you free of charge!
Go download my FREE iPad/iPhone app for searching for homes. GPS function shows you all houses that are for sale in the area you are currently in or search with the “google maps” style search to look in specific areas. (nosey neighbors welcome too!) ***ENTER CODE 10752
This just came in the mail late last week. Yes, I know it is already July and am now just getting an award for 2010 but I still wanted to share with you all. Thanks to all of you for your continued support in using me to buy or sell and home and also calling me with all of your referrals of people that are looking to buy or sell a home!! Please keep contacting me for ALL of your Real Estate needs and I promise to work hard for each and every one of you!!
The most recent statistics show that the odds of selling your home directly from an open house are 1 in 250! That means if I do 1 open house per week it would take almost 5 years to get your house sold via an open house!!
Open houses are typically a lead generating tool for the Realtor holding the open house. Typical visitors to open houses have no information about your home regarding the price, size or condition as most of the foot traffic stems from people driving and seeing the open house signs.
They myth that NM Real Estate contracts are illegal or the devil is just that, a myth. They are definitely not illegal and are used quite often in New Mexico. A New Mexico Real Estate contract is a legally enforceable agreement where the seller agrees to sell and the buyer agrees to buy real property in New Mexico on a deferred payment arrangement. Once the buyer performs all of the obligations per the contract he/she is entitle the the deed. The Real Estate contract does not convey Legal title but does convey equitable title. Simply put it obligates the seller to convey legal title once the buyer has fulfilled the terms outlined in the Real Estate contract.
There are no requirements on how the contract terms should be wrote. Its all up to the buyer and seller. Typically amortized over 15 or even 30 years just as would be outlined in a regular mortgage. I have seen the interest rates pretty close to the going rate for a standard mortgage on up to a few points higher than that of a regular mortgage. So, if the going interest rate for a normal mortgage is 5% you might see an owner financing rate 6-8%. Once again, this is all negotiable and up to the buyer and seller to agree upon.
The obvious reason for doing a NM Real Estate Contract is that the parties don’t want to or can’t obtain a normal mortgage. This could be for numerous different reason:
-Maybe the buyer owns too many properties, makes enough money to support another payment but does not fit the guidelines of obtaining another mortgage thru a lender?? In the investment world this happens a lot with lenders getting tighter and tigher on the criteria
-Maybe the house does not qualify for a mortgage?? Normal mortgages require an appraisal to be completed and depending on the condition of the house it may not be a home that would fit the criteria that the bank is willing to lend on. Tyically seen in home that need renovating. There are no requirements as to the appraised value or condition of the property in owner financing unless the buyer requests it.
-Maybe, just maybe, the buyer is an independent contractor or a small business owner that has a great credit score and has plenty of money for a down payment but still does not meet the quidelines to obtain a mortgage thru a lender??
Point I am trying to make here is that these are not just used because the buyer has terrible credit, no money down and probably wont make the payments. (And yes, I have heard of them referred to that way). These can be used to achieve a common goal….. to buy and sell a home
Do you want to show your home or sell your home? Winning the beauty contest and the pricing war are 2 key elements in getting your home sold. You only get one chance to “WOW” the buyer so why not make it count? Here are a few tips to winning the beauty contest
1. Unclutter –If a house is cluttered, it feels smaller. Give the visual of more space by organizing and removing half the contents of closets and cabinets. This action creates a spacious, organized feel. When in doubt, throw it out! Other options are to give it away, store it or sell it. ***Follow the rule of 3′s (Any flat surface should only have 3 items on it. eg. blender, toaster and knife block…. nothing else!)
2. Clean – Show potential buyers that the home has been well cared for and has pride of ownership. Scrub walls, counters, floors and appliances. Bring the outdoors in with sparkling, clean windows. A scratch cover, wax, or stain/sealer will return the warmth and glow of natural wood. Be sure every room smells as clean as it looks. Use an odor neutralizer to clean away pet and cooking odors. You might jump start this process by initially hiring a professional cleaning service.
3. Repair – Making repairs before the home goes on the market can actually save the seller money, stress and negotiation. Consider a home inspection to eliminate buyers’ objections before they arise. Professionals can handle the complicated repairs while the seller can handle the others. A potential buyer who loves the home but thinks a lot of money will be needed to make repairs may make a low offer.
4. Neutralize – Create a home for many lifestyles and tastes. Neutral paint, décor and carpeting help buyers mentally and emotionally move in. Unusual colors or outdated decorating may make it difficult for buyers to imagine their furnishings in the house. Choose neutral, warm colors. Replace family photos with a few carefully chosen accessories. Some people are allergic to or afraid of animals; the seller should kennel the pets or take the pets out of the house during showings.
5. Dynamize – If buyers can imagine daily life in the house, the seller will build an essential emotional connection with them. Have the seller pretend to be a buyer and take a complete tour of the house from its curb appeal through the entire house. Evaluate the subtle message that each part of the home should convey. Then decide how to add elegance, style and grace. The seller wants to show the buyer how relaxing the home feels, the privacy it offers and the comforts of home that it portrays.
Well, it is that time of year again and we have issued our annual pool edition Welcome Home magazine! Every home that Coldwell Banker Legacy currently has listed for sale is in this magazine with a special emphasis on homes with pools! As always, Contact me and I will be happy to drop you off a copy of the Welcome home magazine or mail you one! Don’t miss out on this one!
Coldwell Banker Legacy Realtors
8200 Carmel NE Ste. 103A
Albuquerque, NM 87122
AbqDunn@gmail.com
(505) 379-5849 call or text
www.AbqDunn.com
Contact Michael to buy, sell or if you just want information about the real estate market! He has been a full time Realtor for almost 10 years! He can also help you when relocating to other parts of the country!
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Coldwell Banker Legacy Realtors (505) 292-8900 8200 Carmel NE Ste. 103A Albuquerque, NM 87122
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