Tax Credit for first time homebuyers - 04/29/09 05:08 PM
Last year's tax stimulus package contained a joke of a tax credit for first-time home buyers.  Why a joke? Because the 2008 credit was not really a tax credit but a loan that the first-time home buyer had to repay.
A real tax credit is one you get to keep.  Of course, to qualify and keep the credit, you have to follow the law. 
Here's a look at the 2009 tax credit for first-time home buyers:
It's 10 percent of the purchase price, limited to a crdit maximum of $8,000.
It's refundable.
There's no recapture if you keep the home as … (0 comments)

The Power of Leveraging - 04/22/09 09:25 AM
I am a do it myself type of gal.  I have a hard time asking for help but I am beginning to believe I need to get help.  Plus I really hate paperwork.  Isn't that an odd statement from an accountant of 20+ years.  I like the big picture not the little stuff.  I think my business might really take off if I would get some of the help I need to handle the day to day stuff.  I know the things they tell you about figure out what your time is worth and then delegate the $10 per hour stuff.  … (3 comments)

My favorite things - 04/21/09 09:30 AM
I am working really hard on my attitude.  When I wake up in the morning I am saying affirmations to myself.  Some days are harder than others.  This is a tough real estate market and everything takes a lot of focus and belief that it can be done.  I have to remind myself often of the many blessing I do have and compared to a lot of the world I have it made.  Here is a list of things I am grateful for today.
The sun is shining and it is supposed to be a nice almost 80 degree day.  Good … (3 comments)

Bankruptcy on the rise in NM - 04/20/09 10:01 AM
Another bad sign of the times is the rise of bankruptcy's in New Mexico.  According to the Albuquerque Journal today, first quarter filings were up 41 percent from a year earlier.  The vast majority, 91 percent, were Chapter 7 liquidation.  According to the Journal, a common thread among people filing for bankruptcy court protection is a change in employment status that reduces income.  One thing noted in the column was described as amateur real estate speculators.  Investors in '04, '05, '06 bought investment houses with no money down and when the market slowed and home values began to erode, they couldn't … (0 comments)

Short Sale Broker Price Opinions - 04/13/09 04:30 PM
In case you are an investor or realtor specializing in short sales here are some useful hints to preparing the BPO (Broker Price Opinion).  All Sold Comps should be less than 6 months old, of similar size and in similar condition and located within 1-mile radius of subject.  According to the instructions found with the Fannie Mae BPO form all line item adjustments should not exceed 10% of the sold or list price of the comp.  Total Net Adjustments should not exceep 15% of the sold or list price of the comp; and the Total Adjusted Sales Price should not exceed … (0 comments)

Listen to Goldman Sachs CEO - 04/07/09 10:36 AM
I am one of those nerdy types who tries to stay educated with what is happening in our economy.  I try to follow the market to keep my business growing.  Although there are times I probably should stay away from the news because it doesn't always keep me in the best frame of mind.  This morning I turned on Bloomberg news and the CEO of Goldman Sachs was speaking to a group of investors.  Following his speech, during the question and answer period he was interrupted by a protestor.  Couldn't really hear what her complaint was because security moved her out … (3 comments)

Interest Rates continue to decline - 04/06/09 10:28 AM
Rates on 30-year mortgages fell to the lowest level on record for the second consecutive week after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.
Mortgage giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.78 percent this week, from 4.85 percent last week.
It was the lowest in the history of Freddie Mac's survey, which dates back to 1971. Rates are down by more than a full percentage point from a year ago.
People are refinancing their homes at a record rate but lenders are still being pretty picky … (4 comments)

Challenges of Short Sales - 04/03/09 09:08 AM
Yesterday I had a third appointment with a prospective short seller.  The first appointment was more than a month ago.  I gave them a packet of documents (samples of hardship letters, a financial statement etc) and told them time was of the essence.  They were already five months behind in payments but the bank had not notified them of a foreclosure YET.  After several unanswered calls and a week or so later, they gave me a couple of the documents and promised to get the rest to me within the next day or so.  Again several calls later to set up … (8 comments)

New Hope for First Time Home Buyers - 04/01/09 10:19 AM
Housing prices fallThe S&P Case-Shiller Home Price Index, measuring housing prices in 20 representative cities across America, fell for the 30th straight month in January, bringing house prices down to 2003 levels. And this time it actually set a record, falling 19% from January 2008. "There are very few bright spots that one can see in the data," said David Blitzer, chairman of the index committee at Standard and Poor's. "Most of the nation appears to remain on a downward path, with...nine of the MSAs (metropolitan statistical areas) falling more than 20% in the last year." According to Mike Larson, a … (0 comments)

 

Diana Lewis

Albuquerque, NM

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ADL Sunshine Realty

Address: 905 Copperhead Ct NE, Albuquerque, NM, 87113

Office Phone: (505) 264-2291

Cell Phone: (505) 264-2291

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