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Home Inspections Pave the Way to Easier Real Estate Transactions

When it comes to selling your home, the last thing you want to do is hold up a sale because of a simple problem that could have been identified by investing in a home inspection. While it may not be the No. 1 item on your to-do list as you prepare to list your home, a home inspection is an integral piece of the puzzle. Bringing to light any problems or issues that need to be addressed, a home inspection can save you a lot of time, money and headaches.

Here are some of the most common problems a home inspector can unearth.

Bedroom Windows.

All rooms listed as bedrooms must have an operating window with 5 square feet of clearance for fire escape. Bedrooms must also have heat. If a home is listed with three bedrooms, and one does not meet both these requirements, it cannot legally be called a bedroom.

Furnaces and Compressors.

Rust in the heat exchange is a common problem that shows up during home inspections. Another common problem involves missing insulation where required by code at the time the house was built, or an improvement or replacement was installed. Electrical Issues.

Common electrical code violations include electrical junctions not enclosed in a junction box, a lack of GFCI outlets in bathrooms and kitchens, or reverse-polarity on outlets. These are inexpensive things to repair, but by not doing so, it can hold up a sale.

Lifesaving Equipment.

Smoke detectors and carbon monoxide detectors are required by law in most states, and not having them will be considered a code violation.

Plumbing.

A number of plumbing issues are very common, with violations ranging from dripping faucets to loose toilets and improper drainage.

Structural Problems.

While these can be more expensive to fix, if they aren't taken care of properly, they can prolong a sale. Violations in this area include rotten wood trim around windows and doors, rotten or decontaminating siding and missing flashing on roofs or above windows and doors.

Extra Rooms.

If you had your basement fixed up at some point while living in the home, or even added a sun room, be sure you have the proper permits in place. This will need to be taken care of before any sale can go through.

Don't put your home sale in jeopardy because of code violations that can be easily fixed. Hire an inspector, make the necessary changes and enjoy the comfort it brings when the closing comes to fruition.

When looking for the best in Real Estate, choose New Mexico Mountain Properties and let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos you are sure to find that perfect home . Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream, or live off the land in our stunning Earthship homes for sale in Taos. How about a scenic condo for sale in Angel Fire that puts you close to the slopes? Whatever your fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire 575-758-5852 in Taos or speak directly to an broker at 575-770-3306 we are here to serve and welcome you to our growing community.

Final Walk Through Checklist When your Home is Ready to Move In

After the negotiations, home inspection, and repairs, saying that you're excited to sign on the dotted line and close on your new house is an understatement. You're ready. However, it's standard for you to take one more walk through of the home before closing -- and you shouldn't take this task lightly. Even if you've already scoured the place, it's possible you missed something, and you definitely don't want to spend money on a repair after you close and those mortgage payments start. . Pack your bag Before you head out, make sure you carry these items with you:

• Contract. You may need to refer to it and confirm what you see matches the terms.

• Notepad. You'll want to document the date and time of your walk-through at the top of your notepad. Then take detailed notes.

• Camera. Take pictures to supplement your notes about repairs that haven't been completed or areas that are damaged.

• Inspection summary. It's important to double-check that all repairs have been completed as promised.

• Your real estate agent. Don't do your walk-through without your agent. They can answer any questions as well as guide you through the process.

• Cellphone and charger. The charger could come in handy if you need to confirm that the electrical outlets are functional.

2. Verify repairs

Before looking at anything else, double-check that all repairs stated on the inspection summary have been completed, and that the seller has left behind warranties and receipts for the work. If something breaks, you'll want to be able to follow up with the person or company that made the repairs.

3. Check general sale items

This is where your sales agreement comes into play. It's just as important to ensure that all the items that convey with the sale are accounted for as it is to ensure that all unwanted items have been removed. You'll want to schedule your final walk-through in advance of your closing day, just in case it appears that the sellers won't be able to clear out their belongings before you move in. Additionally, you'll want to check that all garbage and construction debris from repairs have been removed, and the property has been left clean and damage-free from the movers.

4. Open windows and doors

The last thing you want after move-in is to realize your belongings aren't secure because of a broken window latch or lock. It may sound like a lot of work, but team up and check all window latches and door locks. You'll also need to note if any window screens are missing, or if any of the windows are broken or stick when opening (which is more than an inconvenience; it could also be a fire hazard).

When buying a new home let New Mexico Mountain Properties assist you in finding that perfect home, With two convenient locations in both Taos and Angel Fire you are sure to find what you are looking for. Our stunning Taos homes for sale might spark your interest ,or the lovely Moreno Valley homes for sale in Angel Fire might be just right for you. We also have amazing mountain land for sale in Taos and Angel Fire.... or get in touch with nature in our Earthship homes for sale in Taos. Whatever you are looking for, we can help you find it. Our dedicated agents go that extra mile to find exactly what you require. So give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos, or speak directly to an agent at 575-770-3306. We are here to serve and welcome you to our glorious area.

How to Prepare your home for an Appraisel

Getting your home appraised can often be a nerve-wracking experience. Your home and your handy work will be on display to be judged and valued so that you can move forward with selling your home.

But it doesn't have to be a stressful experience. With the right tools, tricks and savvy, the appraisal process can not only go smoothly, it can also help you make a giant financial leap toward a future in a new home. Do your Research

Just like anything else -- for example, if you're going to select a doctor, dentist, or lawyer -- you do your homework to find out the appraiser's market knowledge of the area, Ideally, your appraiser will be a local who knows the area well and who has been around long enough to see changes in the market. It's also crucial to hire an appraiser who is state certified.

Check your maintenance Whether it's a loose shingle, chipped paint or dirty carpet, be sure to take care of it before the appraiser comes. Anything obvious that needs work could potentially eat away at your home's value.

Also, keep a list of maintenance work that has been done on the home. Have a running list of what you have fixed and upgraded in your home as well as the amount of money you have spent. Know your neighborhood

Before you get your home appraised, be sure you know what comparable nearby homes are going for, because that can be a huge predictor of your home's value.

Also, inform your appraiser of any extraordinary circumstances, like if someone in your neighborhood had to sell their home quickly. Sellers may have to lower the price of their home to get out in a timely fashion in the event of death or job relocation in another state.

It's extremely important that both you and your appraiser are knowledgeable about your neighborhood to get as accurate a value as possible.

Understand that cost does not equal value When you make improvements to your home, you hope that everything you're upgrading will increase your property value -- but this isn't always the case.

If you're not satisfied, reach out

If you're dissatisfied with the appraisal value, contact the appraiser about your concerns. Make sure you have data to back up your claims when you call to voice your opinion.

You can always get a second appraisal, If you really think something was done incorrectly, voice your concern to the appraisal board as a last resort. All appraisers are licensed, and they don't want to jeopardize their license. However, I often recommend going back to the appraiser and showing [him or her] the facts.

If you're looking to purchase or sell a home, come to New Mexico Mountain Properties and our enormous selection of homes for sale in Angel fire as well as our Taos homes for sale. If its land you're looking for, we have the biggest selection in Angel Fire and Taos. We also have scenic condos in Angel Fire. Give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos, or call our agent direct at 575-770-3306.

Do I need an Insurance Policy Before Buying a Home

Technically, no.

Most states require drivers to possess auto insurance before taking the car off the dealer's lot. But home insurance is different. You can legally own a home without insurance. However, if you need a loan to buy your home, your lender will likely require you to purchase home insurance as a way to protect its investment.

What coverages are included?

Standard home insurance policies typically include coverage for the structure of your home, its contents, liability, other structures (such as a tool shed), and additional living expenses. Let's break these down.

Structure: If your home is damaged or destroyed by a covered peril and needs to be repaired or rebuilt, your insurance can help pay for these expenses. Structure coverage is not the same as the amount you paid for your home. You need to set your structure coverage for the amount it would take to rebuild your home from the ground up.

Contents: This coverage can kick in if your belongings are damaged or destroyed. It's typically set between 50 and 70 percent of your home's structural coverage. If you have high-value items, such as an extensive jewelry collection or rare pieces of art, there will likely be a cap on the repair/replacement value (between $1,000 and $2,000). To get more coverage for high-value items, you can add a rider policy to your home insurance.

Liability: If someone is injured on your property, the liability portion of your insurance policy can help pay for medical, rehabilitation, and/or funeral expenses, as well as legal fees in the event that the injured party sues you. Liability is typically set at $100,000 worth of protection. However, it's wise to set your coverage between $300,000 and $500,000 -- especially if your home includes attractive nuisances, such as a pool or trampoline -- as medical and legal costs can add up rapidly.

Other structures: If your home has a detached garage or shed that is damaged or destroyed by a covered peril, your insurance can help pay to repair or rebuild it. Additional living expenses: In the event that your home is destroyed and needs to be rebuilt, this coverage can help pay for living expenses, such as hotel and food bills for the duration of time that you're displaced. Check with your insurer to see if this protection only covers you and your family for a specified amount of time.

What are covered perils?

Standard home insurance policies can cover damage caused by fire, windstorms, hail, lightning, theft, vandalism, explosions, and riots. Typically, water damage, such as that from freezing and bursting pipes, is also covered.

However, damage resulting from floods or earthquakes is not covered. Those types of natural disasters require separate policies and should be purchased if you live in a high-risk area, such as near a body of water or in California, where floods and earthquakes, respectively, are common. What defines how much I pay? Insurance policy will cost, providers take into account:

• Your credit score. • Claims history, both your own and the claims history for the area in which you reside. • The location of your home. • The age of your home. • The costs associated with rebuilding your home. • Your proximity to a fire department and hydrant. • Whether you own pets or not. Owning a dog, especially certain breeds, means you'll need more liability coverage. • The coverages you select.

How can I save money on insurance?

There are a few tricks to saving money on your monthly home insurance premiums, but not all are overnight fixes.

• Discounts. Most insurance providers offer discounts for policyholders. Bundling multiple policies, such as home and auto, with the same provider is one of the simplest ways to save on multiple policies. Providers also usually offer discounts for safety features, such as security systems. Equipping your home with these additional features could help you keep more money in your wallet each month.

• Raise your deductible. Raising your deductible (the amount you agree to pay toward a claim before insurance kicks in) will result in lower premiums. However, don't set your deductible so high that it would cause you financial hardship if disaster strikes. For example, if you can't afford to pay $1,000 out of pocket at any given time, set a lower deductible.

• Improve your credit score. Most insurance providers use credit score as an indicator of how likely you are to file a claim. Studies have shown that those with low credit scores were more likely to file claims than those with high credit scores, who could afford to tackle some repairs or replacements on their own. Improving your credit score can ultimately decrease your premium payments, as you'll become less of a risk to insure. How do I select a provider?

Shop around. All insurance carriers are different in terms of coverage and cost. The best way to find the right provider for you is to get quotes from several companies and compare them rather than making a rash decision.

When looking for the best in Real Estate, choose New Mexico Mountain Properties and let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos, you are sure to find that perfect home . Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream, or live off the land in our stunning Earthship homes for sale in Taos. How about a fabulous condo for sale in Angel Fire that puts you close to the slopes? Whatever your fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire 575-758-5852 in Taos or speak directly to a broker at 575-770-3306 we are here to serve and welcome you to our growing community.

6 Reasons To Google An Address

1. Shop around, then enlist help

Finding the biggest discount isn't just for cars and airline tickets. In fact, a few phone calls and internet searches can land you some serious deals on homeowners insurance.

2. Find out if the home is a Flip

Unless you're buying a new-construction house, the home you're searching has probably acquired some history. And since the walls won't talk, you'll need to be a bit creative in your investigation to detect just who owned the place last. From searching the address, I have found old photos to get an idea of what the home looked like before.

3. Avoid health concerns

The last thing anyone wants is to find out their dream home is located near a former meth lab or directly under a busy flight path. These aren't just concerns for comfort; in unfortunate (and rare) cases, homes can be health hazards. When house hunting, be sure to search for whether or not the home is in a safe area. The U.S. Drug Enforcement Administration maintains a database of homes that have been identified as drug labs, and some of these properties require intensive, expensive cleanup before they can be healthfully inhabited. Radon and industrial and airport zones are also pretty easily discoverable with a Google search and, in most states, via disclosures that most sellers will provide. (Some people find living near an airport or other noisy zone impacts their sleep, even if there is no chemical concern.

4. Imagine your life there

One of the deciding factors for saying to a house is if you can imagine yourself living there. Seeing listing photos and stats can let you know whether the house meets your specifications, but sometimes, especially with a long-distance home search it might still be difficult to really imagine yourself there. Googling can help. While walking through some homes recently with a young family moving up to the suburbs from the city, their 7-year-old was asking, Can I play on the trampoline at the next house?

5. Get details on the HOA situation

When you buy a home that is part of a homeowners association (HOA), you should receive the bylaws in advance of your purchase. But if you dig a little deeper by Googling the associations name, you could find out that your new HOA is one of a surprisingly large number of HOAs that have been reviewed online. Grab your popcorn, because you're most likely find a variety of rants (and raves) about the subdivision, complex managers, neighbors, and amenities.

When looking for the best in Real Estate, choose New Mexico Mountain Properties and let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos you are sure to find that perfect home . Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream, or live off the land in our stunning Earthship homes for sale in Taos. How about a scenic condo for sale in Angel Fire that puts you close to the slopes? Whatever your fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire 575-758-5852 in Taos or speak directly to an broker at 575-770-3306 we are here to serve and welcome you to our growing community.

My credit score is currently 580, what are my chances for getting preapproved for a home loan?

I'd say pretty good if you use the right lender, have the down payment and you can show that financially you are in a good position. Talk to a broker first that actually knows credit, paying off debt may not be necessary depending on the accounts and how old they are. I recommend the lenders network, if any company can get you a loan they can. I have had clients with under a 580 score get approved... Brilliant real estate minds with a ton of lending contacts.

When looking for the best in Real Estate, choose New Mexico Mountain Properties and let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos you are sure to find that perfect home . Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream, or live off the land in our stunning Earthship homes for sale in Taos. How about a scenic condo for sale in Angel Fire that puts you close to the slopes? Whatever your fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire 575-758-5852 in Taos or speak directly to an broker at 575-770-3306 we are here to serve and welcome you to our growing community.

Can you qualify for a home

1. Your credit score is below 620

One of the quickest ways for a lender to get a snapshot of your ability to make future payments is to check your credit score and see how you have fared with financial responsibility in the past. You can receive one free report from each of the three credit-reporting agencies (TransUnion, Experian, and Equifax) once a year, and some lenders will run an analysis to determine what can be done to bring your score within an acceptable range.

2. Your employment history is unusual

W-2 employees working a minimum of 40 hours per week are the most attractive to lenders. If you are working part time, or if you don't have at least two years of tax returns to properly represent your self-employment income, acquiring a loan becomes trickier. For the latter instance, Robson suggests asking a mortgage professional to review your tax returns to determine how much home you can really afford.

3. You have financial responsibilities you aren't taking care of

While credit scores and income are important, Robson explains that even more pressing are such larger issues as delinquent child support payments, unpaid income tax liens, and delinquent student loans. "If serious delinquencies show on a credit report, an underwriter will simply deny the loan," says Robson. "Therefore, a borrower should bring those accounts current, and/or re-establish a payment history prior to pursuing home-loan qualification."

4. You don't have a down payment

Lenders prefer that borrowers be financially vested in their new home from the get-go. So if you don't have a down payment, you'll have to jump through more hoops to showcase your financial worthiness, and private mortgage insurance will most likely be a requirement of your loan. However, your lender may be able to help you find down payment–assistance programs to help bridge the gap.

How can you improve your chances?

When guiding clients through acquiring a loan, Robson suggests a laundry list of tasks they should tackle or monitor. Among the top items on that list are acquiring a credit report, working to pay down debt and bring all accounts into good standing, and either securing funds for a down payment or searching for homes that allow 100% financing. In addition, she suggests avoiding large purchases -- such as a car -- prior to or at any point during the loan-approval process.

When looking for the best in Real Estate, choose New Mexico Mountain Properties and let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos you are sure to find that perfect home . Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream, or live off the land in our stunning Earthship homes for sale in Taos. How about a scenic condo for sale in Angel Fire that puts you close to the slopes? Whatever your fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire 575-758-5852 in Taos or speak directly to an broker at 575-770-3306 we are here to serve and welcome you to our growing community.

If your home sits idle in a seller’s market, it’s time to get to the root of the problem

1. You're overconfident

Being in a seller's market might mean that your home will get snapped up for premium price, no matter its condition. But that isn't always the best strategy to count on. Sometimes homeowners and agents get overconfident in a seller's market and get lazy about 'Home Selling 101.

Solution: Be realistic from day one. Although you may love your house, brace yourself for it to potentially sit on the market for quite some time. And no matter the market, it's still important to "position your home to sell well," says Niakan. "What does that mean? Staging, staging, and more staging.

2. The house is priced too high

Classic supply and demand conditions come into play in a seller's market: There's high demand, yet low supply. Therefore, you can usually expect to get more money for your home. But that doesn't mean the sky's the limit when it comes to your listing price. "In a seller's market, a seller may feel comfortable pushing the asking price a bit higher, and this can be a huge mistake," says Chase Michels of Brush Hill Realtors in Downers Grove, IL. "Determining the best asking price for a home is one of the most important aspects of selling a home. If your home is listed at a price that is above market value, you will miss out on prospective buyers."

Solution: Make sure that you and your agent are certain of the value of your home in your market and price it right. "Get an analysis of the local market with a professional agent, solid comparables, and specific market trend data," says Jill Olivarez, a Miramar Beach, FL, real estate agent.

3. The home needs some TLC

It can be a bitter pill to swallow to pay for home improvements that you may not enjoy for long. But if you want to sell for full asking price, you might need to get your house in a condition that warrants it -- and not base this number only on price per square foot. "Retail buyers understandably still want the most house for their money," says Barbara Grassey, author of How to Sell Your House Fast in a Slow Market and founder of the West Florida Real Estate Investors Association.

Solution: "The seller should have amenities comparable to other properties for sale in that price range and should really upgrade certain amenities," says Grassey. Some upgrade examples, she says, include a pull-down gooseneck faucet, an upgraded ceiling fan, a double-bar towel rack, or upgraded door handles. They sound simple, but a few small changes can make a big impact.

4. There's a problem with the title

"Title" in this case doesn't mean the cute name you might have given your place ("The Laurels," "The Conners' Corner Cottage," etc.). Rather, it's the document that shows ownership. "One reason a house won't sell is because there is a problem with the title to the house that spooks buyers," says David Reiss, law professor at Brooklyn Law School in Brooklyn, NY. Here are some examples he gives of title problems:

Conveyance without a recorded deed (can sometimes happen in transfers between family members). A paid-off mortgage that is still showing up as a valid lien on the house. A mechanic's lien that was filed for work done on the house by a subcontractor. Solution: "Some [title] problems just require a little time to resolve," says Reiss. Contact the title company to find out what you need to do to prepare for selling -- then do it.

5. Advertising photos are subpar

It's said that you have seven seconds to make a first impression -- and the same goes for your house: 90% of buyers start their search online and make a decision about whether to come see your house based on a quick skim of your listing photos. If there are few or no photos, or if the photos look bad because they weren't professionally taken or because the house is cluttered (which shows in the photos), many buyers will move on to the next listing. "When there are a lack of pictures ... buyers often assume the worst," says Amber Dolle, a Los Angeles, CA, agent.

Solution: Get your home staged and photographed by pros. You may think it's an unnecessary expense, but according to IMOTO photography, professional real estate photos have the ability to generate 118% more online views and sell listings 50% faster -- at 39% closer to list price. They're worth it.

6. Your agent doesn't seem to care

Sometimes there's nothing wrong with your house at all: It's priced right and is well-maintained. But your agent could be turning people off. "The agent is your front-line representative," says David Kean, a Beverly Hills, CA, agent with Douglas Elliman. He notes, however: "Some agents have little to no personality, some are burnt-out, some don't care, and others have no social skills."

Solution: "Hire an agent you would invite to a dinner party. If you don't find [an agent who's] interesting and pleasurable to deal with, who will?" You may need to break up with your current agent before moving on to greener pastures.

7. The house smells bad

There's a saying in real estate: "If I can smell it, I can't sell it," says Joshua Spotts, a Memphis, TN, agent. If you're immune to the smell of your home, get a friend's honest opinion. "There is nothing like entering a house and smelling a refreshing scent," says Spotts.

Solution: Sometimes the remedy is a scented candle or freshly baked cookies. But if your house's odor is persistent, it's a good idea to determine what's causing it and address it. Take care of mold and mildew buildup, pet urine on the carpet, or set-in smoke odor.

8. Your appliances are old

Stainless steel is in, and old, yellowing-white refrigerators are out, says Seth Lejeune, a Collegeville, PA, agent. Although potential buyers realize they can replace a refrigerator, if your appliances look as if they belong on That '70s Show, buyers might wonder what else might need replacing. "As for HVAC, heaters, and boilers, those are less noticed by prospective buyers during initial walk-throughs but are almost never overlooked at inspection," notes Lejeune.

Solution: "Update your appliances so they don't look like they're on their last legs," Lejeune says. This advice goes for the unseen too -- if your HVAC has a problem, you're going to have to pay to fix it, or at least come down in your asking price.

When looking for the best in Real Estate, choose New Mexico Mountain Properties and let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos you are sure to find that perfect home . Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream, or live off the land in our stunning Earthship homes for sale in Taos. How about a scenic condo for sale in Angel Fire that puts you close to the slopes? Whatever your fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire 575-758-5852 in Taos or speak directly to an broker at 575-770-3306 we are here to serve and welcome you to our growing community.

Thirty-year fixed rates approached all-time record lows in the wake of the vote

Thirty-year fixed rates approached all-time record lows in the wake of the vote. Will they continue to drop?

Financial market turmoil can be good for mortgage rates. Don't forget this concept as you continue to read headlines about how a Brexit is wreaking havoc on markets.

Brexit is slang for Britain's vote Thursday, June 23 to exit the European Union (EU), which is a political and economic union allowing free trade and movement of people among 28 member countries.

This outcome was unexpected, and caused stock markets around the world to nosedive.

Mortgage rates approach record lows The Brexit vote also caused U.S. mortgage rates to nosedive. Rates were down .125 percent the day after the Brexit vote, and are now approaching all-time record lows as 30-year fixed rates move below 3.5 percent.

Why? Because Brexit uncertainty is causing investors to sell riskier global stocks and buy safer U.S. mortgage bonds which are among the safest bonds in the world because they're comprised of U.S. home loans approved using the strictest guidelines in decades.

When bond prices rise on this buying, bond yields (or rates) drop. When rates drop, its often a good time to refinance your mortgage.

To put it in perspective: On a $300,000 loan, if you refinanced at a rate dip of .25 percent, your payment could be lowered by $42 per month.

Mortgage rate outlook from here When markets are driven more by politics than economics, rate movement will be especially unpredictable. If this Brexit-driven rate dip meets your financial objectives, you should work with your lender to refinance at this lower rate.

Some projections call for rates to rise gradually as Brexit concerns wane, but, conversely, there is also a growing consensus that ultra-low rates may be here to stay.

If you have the stomach to watch rate markets a bit longer, Brexit isn't the only factor driving lower rates. Forthcoming Brexit negotiations may inspire other EU countries to seek independence, which would fuel market turmoil and keep U.S. rates low.

This sentiment has already caused the Federal Reserve to pause its rate hike campaign, citing non-U.S. factors as contributing to increased risk of U.S. recession.

These conflicting predictions mean rate movement will be especially unpredictable in the coming months, so it'S best to lock rate dips that meet your financial objectives. Your lender can help you with your objectives and mortgage math.

When looking for the best in Real Estate, choose New Mexico Mountain Properties and let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos you are sure to find that perfect home . Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream, or live off the land in our stunning Earthship homes for sale in Taos. How about a scenic condo for sale in Angel Fire that puts you close to the slopes? Whatever your fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire 575-758-5852 in Taos or speak directly to an broker at 575-770-3306 we are here to serve and welcome you to our growing community.

Thinking of refinancing to take advantage of the low rates? Here are a few tips

Ensure your lender is quoting correctly. Rate quotes are predicated on a loan closing in a certain number of days. Longer rate locks have higher rates, and lock extensions can eat away refinance savings. If you see one rate quote lower than another when you shop, ask that lender what their rate lock period is, and make sure they can close your loan within their rate lock period.

Ask about timing. Lenders get extremely busy during rate dips, so ask your lender to confirm that they're quoting a rate that allows them enough time to close your loan. (If they cant, you can look into finding a new lender.)

Don't forget your second mortgage. Your second mortgage holder must agree to the terms of your new first mortgage refinance before the refinance can close. This is required even if you have a Home Equity Line of Credit (HELOC) with a zero balance. This step will add time to the process, so make sure lenders you're shopping with know this as they're quoting rates.

Get ready to provide documents again. Even if you refinance with a lender you've worked with before, federal laws require them to update your employment, income, asset, and debt documentation for a new loan.

When do refi costs break even? A typical refinance costs $2,000 to $4,000, depending on your market. Interest cost savings from the refi should repay closing costs within 24 to 36 months. A refinance calculator can help you estimate your break even time.

And don't forget that a no-cost refinance isn't actually without cost. You're just accepting a higher rate to enable your lender to credit closing costs. Make sure your lender compares long-term savings of cost vs. no-cost refi options.

Reminder for home buyers A rate lock runs with a borrower and a property, so as a home buyer, you cannot lock a mortgage rate until you are in contract to buy a home.

Rate dips like the current one tipped off by the Brexit vote benefit you as a home shopper because you are likely get to lock a lower rate when you get into contract. But until then, you're subject to daily rate market movements.

When buying a new home let New Mexico Mountain Properties assist you in finding that perfect home, With two convenient locations in both Taos and Angel Fire you are sure to find what you are looking for. Our stunning Taos homes for sale might spark your interest ,or the lovely Moreno Valley homes for sale in Angel Fire might be just right for you. We also have amazing mountain land for sale in Taos and Angel Fire.... or get in touch with nature in our Earthship homes for sale in Taos. Whatever you are looking for, we can help you find it. Our dedicated agents go that extra mile to find exactly what you require. So give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos, or speak directly to an agent at 575-770-3306. We are here to serve and welcome you to our glorious area.

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