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30 Verano Loop, Santa Fe, NM - The Schnoor Team

by The Schnoor Team

30 Verano Loop, Santa Fe, NM

See full details here: goo.gl/9mmHHe

Beautiful remodel! Entire interior updated while the exposed beams keep the original charm. Stunning kitchen boasts new cabinets with self closing doors, beautiful hardware, new stainless steel appliances, fixtures, gas range with stainless steel exhaust. New bamboo flooring throughout. All new bathrooms with custom tile, cabinets and fixtures. New windows, stucco and a new tank-less boiler/water heater. All on 1.46 acres with an awesome view of the mountains from the huge covered patio in back. A large 2 car garage too! A must see!

Day Trips: Roswell, NM 70th Annual UFO Festival

by The Schnoor Team

 

Open since 1992 the museum has attracted everyone from the curious to the silly to serious researchers. The Museum provides information to the general public on all aspects of the UFO phenomena. People from around the world travel to Roswell to see what the Museum has to offer and to simply "be in Roswell where it happened."

Museum exhibits include information on the Roswell Incident, crop circles, UFO sightings, Area 51, ancient astronauts and abductions. The exhibits are designed not to convince anyone to believe one way or another about their subjects. Visitors are encouraged to ask questions. Many visitors come numerous times and some spend days or even weeks doing research in the library.While in Roswell, most visitors at least buy gas and a soda, or they may spend a week learning about the phenomena and Roswell.

 

Since its opening, the Museum has outgrown two downtown locations, finally landing in the old Plains Theater on North Main Street in Roswell. The number of visitors continues to be the envy of many other tourist attractions in the state.  Not only is there the museum that you can visit year round but every year in the first week of July the annual UFO Festival is held.  It is a Festival for the curious and has been a very successful event.  Activities range from carnivals to trade shows, from alien costume contests to UFO lectures, from Fourth of July fireworks to a parade downtown, from Hollywood celebrities to local children in costume and on roller blades. Known UFO researchers attend to present the most up-to-date information on the subject.

If you are looking for a truely unique experience, if you are a believer or not, this museum is sure to please.  For more information on the Museum you can find them at http://www.roswellufomuseum.com

Take a #DayTrip to Roswell for their 70th Annual UFO Festival!

See more details at: http://www.ufofestivalroswell.com/

 

Do You Suffer From Buyers Remorse?

by The Schnoor Team

Have you ever bought a new car and the next day started to question whether or not you made the right decision? Have you ever bought a new, expensive TV only to find great deals in the paper the next day?

It happens to many homeowners too. You find the right home, go through the process, sign the closing paper, get your keys, and you're finally a homeowner! How exciting. But later that day, some troubling questions creep into your mind: Did I make the right decision? What if I paid too much? What if a better house for me is out there and I'll never know it?

Buyer's remorse is a common, and unsettling, feeling for new home buyers. Your home is likely the most expensive purchase you'll ever make, so it makes sense if you start to wonder whether you made the right choice. But if the feeling is getting you down, follow these dos and don'ts to manage your mindset.

Do revisit your home wish list. Whether you wrote a short list detailing every dream you have ever had in a home, or you just had a few ideas stored in your head, you had a specific home in mind while you were house hunting. If you're feeling regretful about your purchase, compare your initial home wish list to the home you bought. Does it have all or most of the features you wanted? If so, your buyer's remorse is likely a fleeting feeling that will subside once you start getting settled in. If your home is different from your list, remind yourself why you made those compromises.

Don't look at other houses. It's tempting to continue perusing real estate listings or slowing down every time you drive by a "For Sale" sign, but please refrain. Looking at other houses is bound to make you wonder what you missed out on. Instead, focus on the features you love about your new home.

Do start decorating. If your new house is still empty, it might not feel like "home" to you yet. So start making it your own. Paint the walls, display your favorite artwork and hang stylish window treatments.

Don't let others bring you down. While some people in your life will be eager to celebrate your new home, others might not be so enthusiastic. Let's face it: We all have those people in our lives that can take the excitement out of even our happiest moments. If they start to criticize your home's location, the crown molding or the price you paid for it, don't let them get to you. Instead, surround yourself with positive people who will reinforce your decision.

Do take a break. From the time you start searching for a home online to the moment you sign your closing papers, the home-buying process can feel like it's taken over your life. If your normal routines were disrupted by house hunting
and loan applications, take a break and get back on track. Whether you went for nightly walks or read to the kids before bed, start getting back into your pre-home-purchase habits to subdue your stress. You may even want to take a weekend getaway to clear your head. When you get back, you'll be ready to start moving in!


8 Signs You're Ready To Buy Your First Home

by The Schnoor Team

#1 You need to be prepared for the "ongoing costs" of home ownership 

You need to have a budget - and know how to use it. 

There are expenses other than the mortgage. You need household budget right now, start one. Start with your mortgage, then factor in extra costs: higher utility bills, homeowner's insurance, property taxes, homeowners association fees, and maintenance and upkeep costs.  If you simply cannot afford the increased expenses that come with a house, it's never a good time to buy - no matter what's happening in the Las Cruces real estate market.


#2: You need to have savings
Do you have enough for a down payment and all of the other "up-front costs" that go along with buying a home.

Upfront cost include not only the down payment plus you need to factor in closing costs, property taxes, initial repairs, moving expenses and decorating costs, and probably a few more unexpected expenses.


# 3: You need to have a reliable source of income

Buying a home is a long-term financial commitment, so you'll need consistent cash flow to cover those monthly payments. If you are in school, have a less-than-reliable job, or plan to start a family, you need to take a good look at your future cash-flow abilities. Will you be able to make your mortgage payment six months or 6-years from now? You may be able to afford the house when you are 2-wage earners. But there are many reasons that one wage earner is no longer working. Be aware - Be sure.

 

# 4: You need to have an "emergency" savings fund

If you have enough cash on hand to cover three to six months of your living expenses just in case something disrupts your steady income. If you do, you are unlikely to be unhappy about a home purchase.


# 5: You need to have your debts under control

Getting a mortgage and being able to pay all the ongoing costs of homeownership as in number #1.  Your debt-to-income ratio is very important. Generally speaking, banks want to be sure that your monthly housing costs - including principal, interest, taxes and insurance - will consume no more than 28-33% of your monthly gross income; and that your total debt payments, including your mortgage, credit cards, student loans and auto loans, will remain below 38% of your total pay. In order to be sure you can afford to be a homeowner, you should be sure you can make payment that will actually pay off  your outstanding debts.  You also need to be sure you can live a satisfying life while avoiding taking on any substantial  new debt until old debts are paid off. If you don't have your debts under control you will have trouble meeting the costs of homeownership.


# 6: Is your credit report is in good shape?

You will get a lower interest rate on your mortgage, and a lower monthly payment if you have a good credit history. You should check your credit history and then keep up with your credit history to make sure there are no errors. Even if there are late payments or other  defects on your credit report, there are many ways you can boost your credit report and  score.


#7: Can you make a long-term commitment to this home?

Are you ready to stay put for at least three to five years?  The reason we ask is because in order to recoup your buying and selling costs it will take that long for appreciation and equity build up to the break even point. If you sell before then, you may lose money on the deal.

The other reason is that one of the biggest benefits of homeownership is the creation of wealth through appreciation and equity build up. Another benefit that comes with longevity is the tax free profit that you get when you sell.


# 8: Are you prepared to become your own landlord? 

Even if you can afford homeownership, make sure you're ready to live the lifestyle. Owning a place comes with a fair share of new responsibilities, headaches and costs, if it's broke, you fix it -responsible for upkeep, maintain the property? How about the money for all those little extras, such as buying your own lawn mower and hiring the occasional plumber? Make sure you know what you're getting into.

Your Real Estate Appraisal & You

by The Schnoor Team

A few years ago we were working with a family that needed to move sooner than later. We worked closely together to come up with the right price for their home so that it would sell fast and still get them maximum value.

It worked. Just a week after their home went on the market we had a good offer. A day or so after, we had an agreement. We were all very happy until the appraisal came in. The appraisal had the home valued at about $20,000 less than the agreement.

Since the sellers were happy to reduce the price to get the sale done, that's almost what they did. However, after close inspection they had questions, and we suggested that they can get a second opinion. It turns out that there were significant differences in what each appraiser thought was a comparable home. The second appraisal came in fine and the buyers, sellers and bank all agreed on the original price.

Here are a few things to know about appraisals:

Appraisals are not an exact science

It's important to know exactly what an appraisal is and isn't. It isn't exact and there is always room for error. When comparing your home with other sales, one appraiser may count a certain home while another may think the sale was too old, too different, or too far way. This can result in different appraisals.

Appraisals are snapshots

As the market changes, so will the value of your home. This shift can take place at any time.

Appraisals are different than CMAs

Realtors use their professional experience to give you a comparable market analysis. A CMA gives you
an idea of how much your home will sell for in a specific period of time.

You can ask for a second opinion

This may be the most important thing. If my sellers hadn't asked for a second opinion it would have cost them about $20,000. Just because one appraiser used different homes to compare their home with than the other appraiser did.

If you are going to refinance or sell you home, you will be asked for an appraisal. Work with a professional Realtor to be sure that everything is done accurately.

Top 5 Golf Courses in Greater Albuquerque & Surrounding Areas

by The Schnoor Team

Year-round golf is not only possible here – it’s mandatory, though each season presents its own challenges and benefits. The winter offers cool daytime temperatures that are certainly perfect for a comfortable round of golf. Our low humidity and “dry heat” makes golf in the summer an experience you’ll never have elsewhere, while the fall offers fresh cool air and the changing colors of the trees on our nearby mountain courses make a near-perfect golf experience. Check out our list of the Top 5 Golf Courses in Greater Albuquerque and the surrounding areas.

Paa-Ko Ridge, Sandia Park

Surrounded by the mountainous terrain and vegetation of the New Mexican high desert, Paa-Ko Ridge Golf Club is home to one of the most beautiful, challenging and award-winning courses in the U.S.

The 27-hole public golf course is situated on the east side of the Sandia Mountains, twenty minutes from Albuquerque and 45 minutes from Santa Fe. The golf is stimulating, the views breathtaking and the experience unforgettable.

Black Mesa, La Mesilla

Twin Warriors Golf Club is eighteen holes of high desert, championship golf routed in and around 20 ancient cultural sites of previous habitation and activity. The course has beautiful grassy knolls and ridges dotted with Juniper and Pinon Pine. Wonderful dry washes known as arroyos and eroded land features, along with the sacred butte known as Tuyuna or "Snakehead" complete a picture framed by spectacular views of the Sandia Mountains.

Twin Warriors, Santa Ana Pueblo

Twin Warriors Golf Club is eighteen holes of high desert, championship golf routed in and around 20 ancient cultural sites of previous habitation and activity. The course has beautiful grassy knolls and ridges dotted with Juniper and Pinon Pine. Wonderful dry washes known as arroyos and eroded land features, along with the sacred butte known as Tuyuna or "Snakehead" complete a picture framed by spectacular views of the Sandia Mountains.

Pinon Hills, Farmington

Since opening in 1989, Pinon Hills Golf Course has been consistently recognized as one of the best public golf courses in the United States.  The peak of this recognition was in the early 1990’s when Pinon Hills was voted the #1 Public Golf Course in the USA.  

Over the past 20 years, Pinon Hills has moved slightly up and down in different publications’ yearly rankings, but for the past 5 years, Golfweek has ranked us the #4 Municipal Golf Course in the United States.

University of New Mexico, Albuquerque

Since it was officially opened in 1967, The Championship Golf Course has been one of the finest facilities of its kind nationwide. It has been nationally recognized by Golf Digest Magazine as one of the top-25 public courses in the country, and in January of 1991 Golfweek Magazine rated all public and private courses in the country by state, and dubbed The Championship Course the number one course to play in New Mexico. The Course is still holding strong in the rankings seven years later, and in 1998, Golfweek tabbed the Championship Course No. 2 in the West, behind only the Stanford University Golf Course in Palo Alto, Calif. The Championship Course is no stranger to major tournaments. It was the site of the 1950, 1976 and 1992 NCAA Division I Men's Golf Championships as well as the 1998 NCAA Championships. In 1987 the course was the sight of the women's NCAA tourney.

Looking for relocation information? Contact The Schnoor Team Today!

 

Some Advice for Choosing Your REALTOR®

by The Schnoor Team

 

When you decide to buy or sell your Albuquerque home you should go through a thorough process choosing the right REALTOR®​ for you.

You can ask your friends or relatives which Albuquerque REALTOR® they worked with to get started, but do some homework on your own to come up with good questions to ask them and to help you look for warning signs when you reach out to them. If you don't have any referrals you will probably meet agents by answering advertisements, calling the phone numbers on lawn signs, and visiting open houses. You will see advertising for them on bus stop benches, in real estate Web sites and by direct mail campaigns.

If you don't hire a buyer's agent and you deal with sellers' agents, you might be tempted to play the field, thinking that you'll get many people out there looking for your dream house. In reality, though, the buyer who works with many brokers is working with no one.

Here are a few tests to apply when judging a REALTOR®:

Did the REALTOR® return your phone call promptly? This simple question is a good screening device, whether you're looking for a broker, lawyer, or plumber. In these days of cell phones, pagers, voicemail, and e-mail, there is no excuse to be out of touch. Does the agent explain things so you can understand them? This attribute is especially important for first-time buyers. If you can find an agent who is a born teacher, you are in luck. (The fact is, many brokers are former teachers.)

Is the REALTOR® ready to invest time in you? When the broker is holding an open house in Albuquerque, does he or she just wave you through, asking as you leave whether you're interested in that house and letting it go at that? You want someone who, if not busy with other prospects, shows you the house in a professional manner, asks questions about your needs and wants, and offers to sit down and discuss other homes on the market if you're not interested in the house you're touring.

Does the REALTOR® seem to have knowledge of the Internet? Some agents carry a smart phone with them wherever they go and are able to pull up pertinent information and new homes in Albuquerque on the spot. Phones have become a valuable hi-tech sales tool and a convenient and ready resource for savvy brokers these days. If Internet communication is important to you, ask agents if they e-mail their clients with information on new listings as they appear.

Does the REALTOR® ask questions about your finances soon after meeting you? This may not be proper etiquette in ordinary society, but it's the mark of an efficient broker who aims to give you good service. Suggesting a pre qualification or a full loan pre-approval is better yet, so that you have placed yourself in a position of strength and credibility as a buyer. If you haven't already spoken to a loan agent, the agent may suggest someone with whom he or she has a track record of success.

Does the REALTOR® explain up front if he or she is acting as a seller's agent? In most states, this information must be given to you in writing upon first contact.

When suggesting potential homes in Albuquerque for the first time, did the REALTOR® show you listings that convince you that he or she has been listening and understands what you are looking for? If you're shown houses with the wrong number of bedrooms or ones clearly out of your price range, this may not be the agent for you.

Does the REALTOR® seem familiar and up-to-date on local conditions? Does he or she have maps of the area, handouts about schools, local activities, property tax rates, and other information that shows knowledge and interest in the area?

Once you find a REALTOR® with whom you feel comfortable, one who inspires confidence, stick with him or her. Tell your broker about other firms' ads that interest you, Web sites (URLs) with homes that caught your eye, even about FSBOs, so that the agent can investigate and report back to you.

Ask for advice before visiting open houses on your own. And if you have the agent's phone numbers, don't hesitate to use them. Real estate agents are accustomed to evening and weekend calls. Service is what they sell, and they welcome any sign that you intend to utilize it.

3 More Ways to Make Your First Time Home Buying Experience a Success

by The Schnoor Team

 

We think every first time home buyer could use this information to make sure they succeed in buying a home. 

1. Keep detailed records for your spending

Keep track of every single purchase you make. Then take this list and create general categories like food, transportation, rent and utilities, etc. Once you have this list you can find ways to improve and ways to save, and the more you save, the sooner you'll be able to buy your new home.

 

2. Develop of financial plan

As you move forward in this process it is just as important that you develop a financial plan as it is to work with a budget. The difference is that your financial plan will have a savings goal. When you are ready to buy your first home, banks will want you to put down about 20% for a down payment. There are programs that will help you and allow you to put less than this down, but a rule of thumb should be to try and find a way to save 20% of the price of home you hope to buy.

3. Establish a relationship with a real estate agent

This may sound self-serving, but it really isn't. Find a good Realtor that specializes in working with first time home buyers. Shop around to find a buyers agent that you feel comfortable with. Your Realtor will be your link to all the real estate in your area that is currently for sale, and provide you with a vast amount of information on the entire buying and selling process.

These three things will help ensure that your first time home buying experience is a success. Stay tuned for more blogs on buying your first home or visit our website! 

If you have any questions feel free to contact us!

Mortgage Credit Report

by The Schnoor Team

We spoke with Mortgage Banker Patsy Bailey to help us understand the home loan process and what reports lenders are looking at when considering a home loan.

 A credit report to be used in the process of securing a mortgage is a called tri-merge, a tri-merge as it is pulled from all three credit bureaus, Experian, TransUnion and Equifax.The mid-score from the three bureaus is most often used for the mortgage process.

There are loan products in which three scores are not always necessary.

Your credit score not only affects the ability to purchase a home but affects the type of mortgage program, rate and mortgage insurance if required.

Adjustments may be made to help improve your score such as the credit limit on an account and the balance you currently have on the account.

 

Talk with a mortgage professional about your credit score and steps the you can take that may help improve your score.

 

                                                                 

Patsy L. Bailey

Mortgage Banker

NMLS# 228121

Goldwater Bank, N.A.

Mortgage Division

Corporate NMLS# 452955

2155 Louisiana Blvd., NE, Albuquerque, NM  87110

Suite 4100

Direct: 505-875-6717| Cell: 505-715-3231

Email: pbailey@goldwaterbank.com                                                                                                     

Displaying blog entries 1-9 of 9

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