Yes, it is true that underwriting guidelines have tightened and your credit should be good to qualify for a mortgage, however, it is still a good idea to talk with an Albuquerque mortgage professional that can assess your situation and inform you of what you need to do in order to qualify. The solution to a poor credit score may be as simple as reviewing your credit report and having any erroneous information corrected. A good Albuquerque mortgage professional can also refer you to an agency that can assist you in correcting your credit report and teaching you the ins and outs of how credit scoring works. Education about how to properly utilize your available credit may be all that you need to improve your score.

Interest rates for mortgages are still historically low in Albuquerque. Conventional 30 year fixed rate loans are hovering around 5% and FHA/VA loans remain around 5.5%. Mortgage rates do vary depending on your credit score, down payment, and loan amount. The better your credit the better mortgage rate you will qualify for! If you are a first time home buyer in Albuquerque, you can also take advantage of an $8000.00 tax credit when you file your 2009 taxes.

The New Mexico Mortgage Finance authority is an agency that has programs to help first time home buyers with down payment assistance and “HERO” loans. The HERO program is designed to serve households in which at least one member is a safety worker, health care worker, educator, or an active member of the armed forces. You do not have to be a first time home buyer to qualify for a HERO loan. To find information about the New Mexico Mortgage Finance Authority programs and to access a good mortgage payment calculator.

Please e-mail additional questions regarding mortgage issues to Allyson at: Allyson@nmmortgageadvisors.com.

Making the right decision on buying your first home in Albuquerque, your vacation home, your 10th home or an investment home should begin with choosing the right Albuquerque Realtor. Someone who knows the Albuquerque market, understands the finances, is experienced and is a really good negotiator.

You want someone who can answer your questions or find the answers, someone who puts the interests of the client first; who is ethical, honest and believes in developing long term relationships. Below are some things to pay particular attention to:

1) Can I reach my Albuquerque Realtor easily through a direct phone number or e-mail?

2) Is there a commitment between myself and my Albuquerque Realtor to work together towards the best interest of the client? A Buyer’s Agreement signed by both the client and the Realtor may be in order. This just establishes the ground rules for working together.

3) Does my Realtor have a clear understanding of what I am looking for in a home, the price range and the time parameters for the actual purchase? Is there a sense of urgency on the Realtors part to adhere to those parameters?

4) Does my Realtor keep me up-dated immediately on any new Albuquerque listings that may meet my needs? How does the Realtor share new listings with me?

5) Did my Realtor explain the inspection, home warranty and repair process?

6) Did my Albuquerque Realtor console me on how to work with For Sale By Owners and New Construction Developments?

7) Was the entire Home Buying Process explained to me including how to obtain financing, the offer process, the negotiating process, what happens at closing and when do I get to move into my new Albuquerque home?

When you are selecting an Albuquerque Realtor to work with on this, probably one of the most important decisions of your life, make sure you spend time interviewing Realtors and that you are confident that you have chosen a knowledgeable, experienced person that can competently guide you from beginning the search all the way through handing you the key to your new Albuquerque HOME!

I invite you to visit my website and click on Free Reports to obtain information about buying and selling homes.

Many hotels have a no pet policy in the community of Albuquerque. Some however do accept pets but there is an extra charge. Check before booking your room and save yourself the embarrassment of having to be turned in by a chamber maid who hears a dog whining in your room. After all you are providing extra work for the maid to vacuum up your pet’s hair or worse any pet “accidents” that could occur!

When my husband and I travel we take, Sombra our lab and Gremie our tortoise shell kitty cat with us. I have learned that most cities have some really good options for pet accommodations. Here in the greater Albuquerque community we have “doggie day care” facilities which offer a fun day with playmates and treats. Other options include luxury kennels that cater to both dogs and cats and there is a directory of local pet sitters. These sitters can be hired to spend the day to pamper your 4 legged family members. Find out various options for caring for your animals during your house hunting trip to the Albuquerque community.

Cats can be a special issue, especially if you didn’t take them with you on the road when they were kittens. The new environment and the road noise can be very stressful to an inexperienced cat. For boarding facilities check the yellow pages or the net. I like this particular boarding facility: Canine County Club and Feline Inn. You may want to do your own research before booking.

It is also important to know where to get medical service for your traveling companions. There are several VCA Veterinary Care facilities located throughout the Albuquerque community. I would suggest you contact one facility and then they can direct you to the closest one.

The Albuquerque community is known as being an “animal friendly” city. We have many dog parks throughout our community where you can take your dog for socialization and at the same time meet other humans with similar interests.

Currently the real estate market here is very favorable to buyers. With over 6000 homes on the market, the abundance of short sales and foreclosures, and the interest rates at an all time low, Albuquerque Listings offer a great opportunity for a new family home here in the Land of Enchantment!

Send in your suggestions regarding traveling with pets and your questions regarding Albuquerque Real Estate!

The Realtors in our area belong to The Greater Albuquerque Area Realtor Association. You can learn much about our Association.

One of the most important functions of this organization is the overseeing Albuquerque’s MLS, (Multiple Listing Service), which is the internet based program where all of the listings from all of the licensed Realtors are placed so that we can share Albuquerque inventory with all other Realtors. This is extremely important as this is where we go to search for that special home for our buying clientele. Every Realtor has access to the Albuquerque MLS, so long as they keep their fees up to date. The majority of the time another Realtor other than the listing Realtor actually ends up selling the property.

Currently, the Albuquerque MLS is showing around 6200 listings for Residential Detached and Residential Attached homes. In addition to Albuquerque residential listings, we have 250 Manufactured homes 5725 Land listings, 255 Residential Income (representing duplexes, triplex, 4-plexes and other multi-unit apartment type listings), 150 Commercial Listings and 14 Farm & Ranch listings. These numbers represent a fairly large inventory for Albuquerque Listings. This inventory does represent a buyer’s market.

We all know that our economy is not great right now but on the bright side, the Albuquerque real estate market has not suffered like so many other real estate markets. In 2008 we sold 25% fewer homes than in 2007. But, our average price only decreased 4.3% or about $10,500. This is so much better than many markets where prices have decreased 30% or more.

We are looking forward to a BRIGHT 2009 IN OUR ALBUQUERQUE REAL ESTATE MARKET!

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