Michael Dunn - Blog - Michael Dunn

Recent Blog Posts by Michael Dunn
Going free trivia I attended another class on “going green” and thought I would share some interesting trivia with you Q. If Americans used a refillable mug for the coffee on their way to work for just one week, it would save enough trees to fill how many football fields? A. 2 football fields! Q. What produces 5% of our planet’s carbon footprint? A. Cement production! Q. It’s estimated that ... Posted by Michael Dunn @ 12:00 AM on 01/08/2012		More
New VA Funding Fees!! Just Released! Posted by Michael Dunn @ 12:00 AM on 09/28/2011		More
What is PMI?? PMI is private mortgage insurance and all loans that don’t have at least 20% down are required to carry PMI. PMI is insurance that a lender puts in place to reduce the risk of the loan going into foreclosure. There is a monthly premium that is paid just like your homeowners insurance. The good news is that PMI allows many borrowers to qualify for a loan when they don’t ... Posted by Michael Dunn @ 12:00 AM on 08/13/2011		More
Buy the rate down for 2 years Make your home ownership experience more comfortable with a 2-1 Buy Down from Legacy Mortgage. The loan is a FIXED 30 year loan with a reduced interest rate for the first 2 years. This program allows you a lower payment those first years leaving more cash each month for the little extras. How the loan works. The first year rate is 2% points below the market rate, the 2ndyear rate ... Posted by Michael Dunn @ 12:00 AM on 07/05/2011		More
What happens at 3? The other day I was at lunch with my Buddy Jeanette and it dawned on me that I dont know what to do when I get to "3". Those of you with kids know exactly what I am talking about. The ole 3 count! You know, when you ask for some thing and you dont get it so you start to count. "Im going to count to 3 and you better.............". I have 2 girls that are on opposite ends of the spectrum. One of them ... Posted by Michael Dunn @ 12:00 AM on 05/10/2011		More
Staging tips for getting your home sold Do you want to show your home or sell your home? Winning the beauty contest and the pricing war are 2 key elements in getting your home sold. You only get one chance to "WOW" the buyer so why not make it count? Here are a few tips to winning the beauty contest 1. Unclutter –If a house is cluttered, it feels smaller. Give the visual of more space by organizing and removing half ... Posted by Michael Dunn @ 12:00 AM on 05/03/2011		More
$5,000 towards down payment & closing costs when buying a home in Rio Rancho Many times lately I have been asked if there are still 1st time home buyer programs still available and the answer is YES. Here is another one that is availabe to 1st time home buyers purchasing a home in Rio Rancho, NM. It is called the Community Development Block Grant (CDBG) and allows for up to $5,000 to be used towards a 1st time home buyers down payment and/or closing costs. Obviously, there ... Posted by Michael Dunn @ 12:00 AM on 05/02/2011		More
New Mexico Real Estate Contracts (Owner financing) are legal in New Mexico They myth that NM Real Estate contracts are illegal or the devil is just that, a myth. They are definitely not illegal and are used quite often in New Mexico. A New Mexico Real Estate contract is a legally enforceable agreement where the seller agrees to sell and the buyer agrees to buy real property in New Mexico on a deferred payment arrangement. Once the buyer performs all of the obligations per ... Posted by Michael Dunn @ 12:00 AM on 04/21/2011		More
A look backward....... and forward A Look Backward and Forward January 2011 In November 2007, it became startlingly clear to everyone in the real estate business that the real estate boom was coming to an abrupt halt. No one really had any idea just how abrupt or how deep the recession would be. What has followed is what is now known as the Great Recession. Speaking just of the Albuquerque residential ... Posted by Michael Dunn @ 12:00 AM on 02/12/2011		More
Seller out of country.... One of my pet peeves when searching for a home for a buyer that I am working with has always been the lack of the houses data/photos or lack of attention to comments in MLS. Today I ran across a home that is currently listed for sale stating "Seller and Listing agent are out of the country and will not respond to offers until after October 29". (today's date is February 2, 2011) Upon further ... Posted by Michael Dunn @ 12:00 AM on 02/02/2011		More
Property Tax Exemptions Over the years I have seen many people that are not taking their appropriate or allowable property tax exemptions. Most people just don't know that they are eligible or they don't know how to apply the exemption. It only takes a few minutes to fill out the forms and fax them over to start saving money on your property taxes! I am happy to get the forms form you and help you ... Posted by Michael Dunn @ 12:00 AM on 01/28/2011		More
Property Tax Valuation You view your home the same way as the county assessor does?? Property tax in New Mexico has certainly been an interesting subject over the last few years. Prior to December 2004 there were no requirements for disclosure of actual sale price to the Bernalillo county assessors office which lead to some valuations which may not have been accurate. From January 1, 2005 forward the title companies ... Posted by Michael Dunn @ 12:00 AM on 01/17/2011		More
Avoid Foreclosure Finding a new home. Don't let your clients believe that it will be better to let the foreclosure happen, because after they lose their home, they will still need to find a new place to live. All too often, the price they will need to pay in rent will be almost as high if not higher than their current mortgage payment. Remember: The owner of the property needs to make his mortgage payment, too, so he's ... Posted by Michael Dunn @ 12:28 PM on 11/16/2010		More
3 New Anti-Foreclosure Strategies Here are three programs that are considered promising replacements for the government’s Home Affordable Modification Program (HAMP), which has failed to stop foreclosures.· Fannie Mae and Freddie Mac would be encouraged to refinance loans for some 30 million borrowers with high-interest rate mortgages. The new mortgages would be folded into a new round of mortgage-backed ... Posted by Michael Dunn @ 12:29 PM on 11/04/2010		More
Halloween Costume Contest!!! Halloween Costume ContestI am doing a halloween costume contest with a $25 Gift Card as the prize!Dont need to be present to win!Rules: -Must email a picture(s) of your costume to AbqDunn@gmail.com by 9:00AM Tuesday November 2, 2010 with the subject line of “Halloween Costume Contest” -This contest will be a random drawing. Does not matter how cute, good, bad etc your costume is. Your ... Posted by Michael Dunn @ 8:19 AM on 10/29/2010		More
Mortgage Activity Falls Mortgage Activity Falls Applications for mortgages to purchase homes decreased 6.7 percent last week compared to the previous week on an adjusted basis, according to the Mortgage Bankers Association weekly index.The unadjusted Purchase Index decreased 6.6 percent from the previous week and was down 29.4 percent compared to the same week a year ago.This week’s report was not adjusted for the Columbus ... Posted by Michael Dunn @ 2:14 PM on 10/20/2010		More
Reverse Mortgages Gain Popularity The housing market slowdown has boosted the popularity of reverse mortgage loans among those 62 and older.Between 2005 and 2009, the number of federally insured reverse mortgages jumped 166 percent. To encourage business, many lenders have reduced or waived upfront costs. A MetLife study in 2009 found that more than 50 percent of older high-income home owners have a mortgage and 45 percent have ... Posted by Michael Dunn @ 2:13 PM on 10/20/2010		More
Coldwell Banker Real Estate Released Home Listing Report MOST EXPENSIVE AND AFFORDABLE U.S. HOUSING MARKETS Newport Beach, Calif., Tops Most Expensive Housing Market List; Detroit is Most Affordable Market PARSIPPANY, N.J. (Sept. 22, 2010) – Coldwell Banker Real Estate LLC today released its Home Listing Report, a snapshot survey of U.S. four-bedroom, two-bathroom home listings, which found a $1.7 million difference between America’s most ... Posted by Michael Dunn @ 8:29 AM on 10/13/2010		More
Fannie & Freddie Offering Hard-to-beat Dealls!!! Beginning this week, Fannie Mae and Freddie Mac are trying to sell off 150,000 foreclosed homes by offering low down payments, no requirement for mortgage insurance, and up to $30,000 added to the mortgage for renovations. In addition, the real estate practitioner selling the property gets a $1,500 bonus.In some neighborhoods, these properties undercut the average listing by $100,000.Fannie and Freddie ... Posted by Michael Dunn @ 3:18 PM on 09/29/2010		More
Recipients of First Tax Credit to Begin Payback Borrowers who took advantage of the original 2008 home buyer tax credit must begin paying the credit back this year. The Inspector General for Tax Administration (TIGTA) says 950,000 owe money.The required payments are amortized over 15 years – $500 per year. If the property is sold, the credit must be paid at closing.The TIGTA says the IRS has the incorrect purchase date in its database ... Posted by Michael Dunn @ 12:06 PM on 09/10/2010		More
30 Year Mortgage Rates Rise Average interest on 30-year fixed mortgages rose for the first time since June, lifting to 4.35 percent this week from 4.32 percent last week and 5.07 percent a year ago, reports Freddie Mac. Rates for 15-year fixed loans held at 3.83 percent, the record low set last week. Also, the five-year adjustable-rate mortgage averaged 3.56 percent, compared to 3.54 percent last week and 4.51 percent a year ... Posted by Michael Dunn @ 12:04 PM on 09/10/2010		More
Most Home Buyers Have No Regrets A study from Bankrate found that 90 percent of owners do not regret buying their home. The findings also revealed improved mortgage awareness, with only 8 percent of home owners in the dark about what type of loan they have -- down from 26 percent two years ago. The poll of 1,001 randomly selected home owners in August showed that 79 percent had fixed-rate financing, and this type of mortgage was used ... Posted by Michael Dunn @ 2:37 PM on 09/02/2010		More
5 Reasons Homeownership Trumps Renting 5 Reasons Homeownership Trumps Renting The seemingly endless run of bad housing news is discouraging some potential home buyers from considering a purchase. But the truth is that the advantages of homeownership have very little to do with investment gains. The best things about owning a home have a lot more to do with personal comfort and satisfaction.Here are five of them:1 Be your ... Posted by Michael Dunn @ 5:05 PM on 08/30/2010		More
Kitchens Remain among Most Popular Remodeling Projects 1]RISMEDIA, August 26, 2010—(MCT)—Kitchens have long been among the most popular remodeling projects. But with fewer clients requesting kitchen upgrades during this recession, one kitchen designer has turned the economic slowdown to her advantage. “If I couldn’t remodel as many client kitchens as usual, I decided to remodel my own showroom. That way, I’d be ready to show ... Posted by Michael Dunn @ 6:44 PM on 08/26/2010		More
Red-Ink Fears Prompt Mortgage Backer to Raise Fees The country's most popular federal mortgage-insurance program is set to raise fees to borrowers in a bid to avoid burning through its dwindling reserves as home prices come under renewed pressure.Opinion: Homeownership Isn't for EveryoneAccess thousands of business sources not available on the free web. Learn MoreThe move reflects new threats facing the Federal Housing Administration, a New Deal-era ... Posted by Michael Dunn @ 12:31 PM on 08/24/2010		More

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