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You've reached the blog for Santa Fe Realty Unlimited. Thank you for your visit. In this Blog, we intend to give insight into real estate and help educate the consumer in order to allow them to make great real estate choices. Real estate, in our eyes, is the backbone of our community. It provides a solid secure investment and a place to call home and raise our families.  We at Santa Fe Realty Unlimited are dedicated to our clients and finding the best solutions to help them with their real estate needs. So please feel free to browse the content on this page and reach out to us if you have any questions whatsoever. Also, If you have a topic that has to do with buying or selling or real estate in general. whether it is in Santa Fe or at the state level of New Mexico or even nationally or internationally, We love a challenge so please do not hesitate to bring it up. Thanks for reading and we hope to hear from you soon.

July 1, 2019

How to Buy a Home With Less-Than-Perfect Credit

You don’t have to have a high credit score in order to get a good mortgage. Here are even more alternative options. 
I’m back again for part two of my discussion with Stacy Crossingham about how you can qualify for a mortgage without having stellar credit. Today’s focus is going to be on alternative credit score programs.
 
Government-funded programs such as FHA or VA loans will allow you to get into a home with a score as low as 550. If your score is below that, you’ll need to explore your alternative programs. The interest rate will be a bit higher, at about 5.5% or 6% as opposed to 4% or 4.5%, but you can always refinance down the road if you improve your credit.
 

"Alternative loans will typically require at least a 5% down payment." 
As far as these alternative credit options go, there are some conditions that you’ll need to meet in order to qualify. If your debt-to-income ratio isn’t where it should be or you have some late bill payments, these types of loans are usually more lenient. They usually do require at least a 5% down payment, however. 
 
I think the key point in all of this discussion is that each situation is different, but there are a lot of different solutions out there to help make your dreams of homeownership come true.
 
If you have any questions for Stacy about your personal situation or how she can help you, don’t hesitate to give her a call at (505) 577-4304 or send her an email to Stacy.Crossingham@FinanceOfAmerica.com.
 
If you have any other questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
Posted in Buying a Home
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June 14, 2019

How to Get a Mortgage With Bad Credit

Even if you have bad credit, it’s still possible for you to buy a home. Stacy Crossingham joined me recently to explain how. 

Today I’m delighted to be joined by Stacy Crossingham of Finance of America to talk a little bit about alternative credit scores and how to qualify for a mortgage if your credit isn’t perfect.
 
A lot of people think that you need to have a perfect credit score to get a mortgage, but that’s not necessarily the case. Credit scores do play an important role in what your financing costs are, but you can get a mortgage with a FICO score as low as 500. There are plenty of alternative programs and alternative lenders out there to help buyers who find themselves in a bad credit situation. Even if your credit isn’t where it needs to be now, Stacy can show you how to get it to a point where you can qualify.
 
Low credit score loans will require higher payments and might require more money down, but it can be done.
 

"Improving your score isn’t as difficult as you might think." 
Improving your credit score isn’t as difficult as you might think. The best way for you to take control of your credit is to take your report, find out what credit you have, and we can use alternative credit like some of your monthly bills to give you more lines of credit to help you qualify for a mortgage. Anything that’s a monthly payment can be utilized as an alternative credit source.
 
If you have negative credit, you’ll need to either negotiate that debt, pay it off, or make those payments more consistent. If you’re constantly reducing your debt without maximizing your line, your score will go up. 
 
Stay tuned for part two of my discussion with Stacy. If you have any questions in the meantime for Stacy, you can give her a call at (505) 577-4303. If you have any other questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
Posted in Real Estate Tips and Tricks
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May 28, 2019

Passive Income Through Real Estate

 
Generating passive income through real estate can be a fruitful alternative to laboring at a 9-5 job for your future. Here’s how. 
 

 

This question was recently posed to us: “How do you generate passive income through real estate?” Mortgage advisor Stacy L. Crossingham with Finance of America Mortgage, LLC joins me today to lend her expertise to help answer this. 
 
The opportunity to make passive income is as exciting as it is liberating—it’s an alternative to relying on a 9-5 job to support yourself and establish retirement savings. While there are different avenues you can take with passive income, today’s focus is on real estate. 
 
For those looking to invest in real estate, there are quite a few programs out there that will help you get a foothold in this way and learn how to buy your first property with very little money down. The more properties you develop, the more passive income you can amass via renting. Then, that money can go toward supplementing your retirement or whatever savings strategy you’d like.
 

"The opportunity to make passive income is as exciting as it is liberating." 
You’ll not only develop labor-free, monthly income, but you’ll also develop equity in the property. If venturing out into this territory is a scary thought, know that we have programs for first-time investors where we can aid you in the process. 
 
So many of the great influencers and teachers in financial health, like Robert Kiyosaki, have spoken about the philosophy of having your assets work for you. This way, for example, you can buy a starter home now and after moving into a home later in life, it becomes your investment property. Meanwhile, you’re building wealth until you’re ready to cash it in. 
 
You’re not limited in the ways you can create a stream of passive income through real estate—owning apartment spaces, short-term rentals, or commercial property are all ways you can invest.
 
This means of passive income has created wealth for both of us and we’d like to share this experience with you! If you have an interest in learning more about developing passive income through real estate, don’t be shy and give us a call at Santa Fe Realty. We’d be happy to speak with you about it!
Posted in Real Estate Tips and Tricks
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April 12, 2019

A Great Loan Program House Flippers Can Take Advantage Of

 
If you’re thinking of getting into house flipping and you need financing, I’ll tell you about a great program you can use. 
 

 

What kind of mortgage loan programs are available to you if you’re thinking of getting into house flipping? 

According to Stacy Crossingham of Finance of America, there are several options you can consider, but today we’ll focus on a program that’s great for both home builders and first-time investors. 

This program offers a line of credit that takes your liquid asset total and multiplies it by five. If you have $50,000 in liquid assets, for instance, you’d be approved for $250,000 in your line of credit. This line of credit is then open for 12 months, and you can have anywhere from five to 10 properties on it. 

It isn’t just for single-family homes, either—you can build multi-unit complexes that will count as one single property, which is what makes it particularly beneficial to home builders. Also, you can borrow against your limit anytime you want, which saves a lot of time going back and forth with the bank. 
 

"You can borrow against your limit anytime you want, which saves a lot of time going back and forth with the bank." 



This program’s qualifications are predicated more on experience than income, so the more properties you own as rentals, the better your interest rate will be. If you’re a first-time investor, you’d be seen as slightly higher-risk. Rates start at 6.99% for 12 months. After that, they renew your line and increase it as your experience increases. 

If you’d like to know more about this and other loan programs designed for house flippers, you can give Stacy a call at (505) 577-4304. 

If you have any other real estate questions for me, feel free to reach out to me as well. I’d love to help you. 
Posted in Selling Your Home
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March 26, 2019

What to Expect During the Home Buying Process

 
Knowing what you’re in for as you’re about to search for a new home will put you at an advantage as you go from one step to the next. Here’s what the process will look like. 
 

Purchasing a home is a vastly important decision, so knowing every facet of the process beforehand will serve you well. Here’s what you can expect along the way. 
 
The first step to the home buying process is to get pre-qualified with a lender. Pre-qualification will help you start the process on the right foot: You’ll know what you qualify for, what your price range is, and what your payments will look like. In the eyes of a seller, a pre-qualification shows you went the extra mile to make sure you were qualified to buy a home. 
 
Once this is accomplished, we’ll start searching for the home. As your real estate professional, I’ll search high and low for homes online and show you the ones that line up with your criteria. I or another qualified professional can provide you with the most up-to-date information regarding your home search and market conditions. 
 
Thirdly, once you’ve found a home that’s to your liking, we’ll make an offer on the home. By expertly negotiating with the seller on your behalf, your Realtor should be able to ensure that you’re not paying too much and that you buy for the best possible price.
 

"Everyone will collaborate together to get you into your new home, you’ll sign closing documents, and the house will officially become yours!" 


You’ll then go under contract. This part of the process is comprised of dropping off earnest money, starting title, and other mechanisms that will begin to set the purchase of the home in motion.
 
Next, it’s time to go into inspection to make sure all major items in the home are in working order. If an inspector alerts us to problems with, say, the roof or plumbing, we’ll hire a roofer or plumber to examine each respective issue. Uncovering any issues that might not be immediately apparent in the home through the inspection is such a critical piece of the buying process. In the event that repairs are needed, you, as the buyer, will have negotiating power. My goal, however, is to get you the best home possible straight from the outset. 
 
After inspections are finalized, we’ll get an appraisal on the property. Here, an appraiser will come to the property to guarantee that, based on comparables in the last year, the property’s value is congruent with your agreed-upon purchase price.
 
As you near the end of the process, you’ll get a survey done to verify the lot line, make sure the property is situated where it’s supposed to be, and verify that no part of the home has been built on a neighbor’s property.  
 
Homeownership is now only a step away: You’ll close on the home. Everyone will collaborate together to get you into your new home, you’ll sign closing documents, and the house will officially become yours! 

If you have any questions about the home buying process or you have any other real estate needs, don't hesitate to reach out to me. I'd love to help you.
Posted in Buying a Home
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March 11, 2019

Busting a Few Common Home Loan Myths

 
Mortgage rates are constantly changing, but the myths surrounding them seem to stay consistent year after year. Here’s the truth behind some classic mortgage myths. 
 
Today I’m happy to be joined by Stacy Crossingham, a mortgage advisor with Finance of America Mortgage, who is going to talk a little bit with us about the loan process and dispel some common myths about the topic.

Stacy has been in the mortgage industry for nearly 30 years and has a wealth of experience working with all different kinds of buyers. She’s seen it all, from government-backed loans to VA loans, jumbo loans, and everything in between. She’s seen it all and can help you with it all. She has always done a very thorough and fantastic job for our clients who have worked with her.

If you’re a first-time homebuyer, the best way to start looking for a home is with a pre-qualification. You want to know exactly what your price range is and what you qualify for before you go out looking for homes. We’ll get all of your documentation in order, run a credit report, and decide how much you qualify for based on your financial picture. At that point, you will be provided with a pre-qualification letter so that things are simple for all the professionals involved. It makes the home searching process much easier.
 

"A pre-qualification letter makes the home buying process much easier." 


One common myth about mortgages is that you need a huge down payment in order to buy. That’s simply not true. In fact, if you’re in the military or a veteran of the military, you can qualify for a VA loan with $0 down. Even if you’re not in the military, there are down payment assistance programs out there that can get you into a home with just $500 in cash. You don’t need a high credit score, either.

Another common myth is that you can only qualify to buy a home with a traditional W-2 tax form. However, if you’re a small business owner who uses a 1099 form, there are plenty of programs out there to help you as well. They don’t require much besides an application and some sort of income verification.

As you can see, there’s something out there for anybody and everybody who is interested in buying a home. If you have any questions for Stacy, don’t hesitate to reach out and give her a call at (505) 577-4304.

If you have any other real estate-related questions for me, don’t hesitate to reach out via phone or email. I’d be happy to help you out.
Posted in Buying a Home
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Feb. 26, 2019

The Latest News & Notes From Our Santa Fe Market

 
Homes that are priced right are moving quickly in our market, so you need to be prepared as a buyer. 
 

What’s the latest news from our Santa Fe market? Let’s take a look at the numbers:

Right now, we have 208 single-family homes available. The least expensive of those is priced at $204,900, while the most expensive is priced at $9.95 million. The average home price is right around $1 million, but the median price is $650,000.

It’s important to note that homes in the lower end of the market are moving faster than the ones in the higher price ranges. There are some great homes below the $300,000 price point, but if they’re priced right, they’re selling quickly, so you need to be on your toes if you’re a buyer.

If you’d like a more in-depth market evaluation, you’d like to know what your home is worth, or you have any other real estate needs I can take care of, don’t hesitate to reach out to me. I’d be happy to help you.
Posted in Real Estate News
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March 19, 2018

Video Walkthrough 84 Silver Spur, Cerrillos, NM 87010

 Leland Titus
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Posted in Homes For Sale, Santa Fe Real Estate
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Feb. 15, 2018

Heros Home Connection Buyers Assistance Program-Santa Fe Realty Ultd Talks Real Estate In Santa Fe NM Episode 3

Santa Fe Realty Ultd Talks Real Estate In Santa Fe NM Episode 3

Associate Broker David Themis gives a quick overview of the Heros Home Connection Program. 

 

Transcription: 

 

Hello everybody David Themis here. Today I would like to just talk for a couple of minutes about the Heroes Home Connection. Heroes Home Connection is the New Mexico nonprofit organization that helps with closing cost assistance for qualified heroes. These qualified heroes include but are not limited to; doctors, nurses, fireman, police officers, social workers, forestry workers, park rangers, foster parents, the list goes on and on. Basically, if you wake up on a daily basis and you’re striving to improve people’s lives, your striving to help people, well we want to help you back!  That’s what we’re striving to do. Heroes home connection saved approximately $84,000 in 2017!!!  That’s substantial,  that’s a large amount of money that has helped a lot of people! So far 2018 we are at about 7000. But We’re looking forward to a good year. The only way we can help more people is through education, and that’s the reason I’m here today. The way this works is that all of your affiliates, your affiliate realtor like myself, your Affiliate lender like Miss Linsley, different title company affiliates, your home inspector affiliates, we all get together and we contribute toward your closing cost, we contribute to help you get into your new home.  If you’d like more for information about the Heroes Home Connection please feel free to clean click on the link I posted below or simply go to www.heroeshomeconnection.com and read our testimonials, look at our pictures,  look at all the information we have on hand.  We are here to help and I hope you take avenge this program. Again, my name is David Themis with Santa Fe Realty Unlimited and I really hope you follow me on Facebook. Now see you later bye!!

Posted in Buying a Home, Heros Home Connection, Low Down Payment loans, Real Estate Tips and Tricks, Santa Fe Real Estate
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Feb. 7, 2018

The Importance Of Getting a Home Inspection with Juan Carlos Mora- Santa Fe Realty Ultd Talks Real Estate In Santa Fe NM Episode 2

Always get a home inspection!- Santa Fe Realty Ultd Talks Real Estate In  Santa Fe NM Episode 3

Juan Carlos Mora explains the importance of a home inspection.

 

 

Transcription:

 

Hi guys, we are live this is Juan Carlos Mora of Santa Fe Realty Unlimited. I just want to thank Leland Titus for starting this challenge today. We are going to be having a video series letting you guys know the pluses minuses of buying a house. If you guys have any questions, feel free give us a call, we'd be more than happy to answer any questions you guys might have.

If any of them(questions) should come up as far buying a house goes, You should consult with somebody, friends, family, and then talk to Realtors. Today the topic is going to be home inspections. Home inspections are very important. even though you could be walking into a brand new house and think "hey it doesn't need an inspection, you know its brand new, what could be wrong with it"? I was watching a couple youtube videos of home inspectors, and they walk into houses that are being built and there are so many code violations, so many things going wrong. And sometimes they just make houses way too cheap and way too fast that they do not have enough time to pay attention to all the details. So if you guys are buying a house that is being made at this moment, run an inspector out there. Just because they can catch certain things and you guys can fix it before you have to pay more down the line. the other thing is that if you run into a house and you decide not to do an inspection and you decide not to do an inspection you run the risk of Caveat Emptor which basically means that the buyer runs the risk of taking a house with problems whatever is wrong with the house he should know. He has done his own walkthrough, he has done his own inspection. At that point in time if you find something wrong with the house and you would like to sue somebody... you chose not to get an inspection. So that is a risk that you run. but hopefully, any house that you get run an inspection

Posted in Buying a Home, Home Inspections, Real Estate Tips and Tricks, Santa Fe Real Estate
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