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There are various current events, talking points and recent developments in the real estate industry that you should be aware of. I am assuming you already own real estate or might want to buy property in the near future. Even if you are a long time homeowner with no plan to sell, highly relevant information exists which I recommend you take in.

First, mortgage interest rates are the lowest they have been in the last 30 to 50 years! This is fantastic news for a potential home buyer that wants or needs to obtain a mortgage. Even if you own a home and are staying put for now, there are real reasons why you should explore a refinance. You do not need to start all over again with a new 30 years. Most lenders will work with you on a 15 or 20 year term. I can help you gather facts related to financing your home ownership. Phone me at 505-470-7153.  Even if I have no financial reward for doing so, I simply want you to know what is out there and how it can affect your quality of life (and cash flow).

Next, the values and prices of homes in Santa Fe are at levels not seen for at least 10 years, with some sellers able to price their homes for quick sales due to their own reasons. If you have looked at homes in Santa Fe at anytime over the last dozen years, you would be amazed at how much you can purchase now, compared to what you might expect. To see what is for sale in your price range and in an area you want to own, use the link at the top of the right column on this website… or just call or email me to tell me what you might be interested in. Email is AlanBall2@gmail.com You won’t know until you ask.

Also, with unbelievably low interest rates and an excess of well-priced inventory, you still might think you cannot make a move because of your own financial situation. Yes, you can participate in this once-in-a-lifetime market opportunity for prospective buyers. There are, among the motivated sellers trying to sell, many homes that you can purchase without having to qualify for an institutional mortgage at all. Some sellers simply understand the financial benefit of being the lender for the purchaser (they don’t have to be desperate). The homes and sellers I am referring to are open to seller financing and have stated so, openly in the listing detail about their home. They are willing to consider a strong buyer with some money down. They want to be able to move on and not continue stuck in a home that is not right for them (while it might be just right for you). There are even lease/option to buy opportunities out there (something we have not seen since the 1980’s). They are a little more complicated, but if you can start now to purchase your next home, pay something every month and stay consistently on track through the lease period, would you be interested? Talk with someone that understands this sort of transaction. Again, call or email me for a roadmap we can develop together to get you where you want to be.

Oh, and one more thing: if you have a world of patience and can hang in there while things move at the speed of a glacier in Alaska, consider looking at some of the foreclosures and short sale properties that are currently available. These transactions are not for everyone, but with your clear understanding of the process, purchasing a “distressed home” might be the best thing you have done for yourself since you opened a Roth IRA last decade. There are many speed bumps and disclosures to go over, but given that there are some pretty good deals out there, it might be worth the trouble for some of you.

Here and now is a good time for you to move toward success and peace of mind. Start the process to achieve your personal and financial goals sooner rather than later. Action is the beginning of any well designed plan. And I would like to be your biggest fan.

Posted in Foreclosures, Home Values, Mortgage, Posts & Updates, Santa Fe area real estate, Seller Financing, Short Sales and tagged , , , , , , , , .

The writer is a 68 year-old young man engaged as an active REALTOR (associate broker) with Keller Williams, in real estate sales and management in the Santa Fe NM market area. My career has been in and around the real estate industry for more than 35 years, ranging from mortgage lending (interim, commercial, residential); residential property management and leasing; shopping center development and leasing; real estate sales; sales training; title insurance as an executive and an escrow officer; various management positions; consulting and other related activities. That plus a bunch of banking experience including our family-owned Bank of Santa Fe in the 1980s. Where has the time gone?
My background means you have my working knowledge of the entire transaction process at your disposal. That comes with honesty and no bullshit.