Michael Dunn - Blog - Michael Dunn

Recent Blog Posts by Michael Dunn
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
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
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
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
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
Interesting Article- "Buy and Bail" Harvey Collier, a mortgage broker in Fort Lauderdale, Florida, says he gets as many as 10 calls a month from people planning to default on their loans. The twist: They first want financing to buy another home.Real estate professionals call it “buy and bail,” acquiring a new house before the buyer’s credit rating is ruined by walking away from the old one because it’s “underwater,” ... Posted by Michael Dunn @ 10:05 AM on 08/10/2010		More
5 Real Estate Scams you need to know about Mortgage fraud is pervasive: An estimated $4 billion to $6 billion in annual losses result from mortgage fraud, according to FBI reports. “An entire community can be damaged by mortgage fraud,” says Rachel Dollar, a lawyer from Santa Rosa, Calif., and editor of the Mortgage Fraud Blog. Mortgage fraud can lead to a spike in foreclosures, home values plummeting, and lenders raising their ... Posted by Michael Dunn @ 10:39 AM on 07/22/2010		More
Did you miss the home buyer tax credit?? Missed the home buyer tax credit? Now there’s an even better Buyer Bonus! The Home Buyer Tax Credit has come and gone. Fortunately, the door is now open to something even better – the Coldwell Banker® Buyer Bonus Event! Purchase a par ticipating house between May 1st and July 31st, and the home’s seller will refund 3% of the accepted offer ... Posted by Michael Dunn @ 4:53 PM on 06/10/2010		More
30 Days and Counting on Home Buyer Tax Credit Less than 30 Days and Counting on Home Buyer Tax Credit Last November, the government expanded and extended the new Homebuyers Tax Credit. According to the program, first-time homebuyers are eligible for a tax credit of 10% of the purchase price of the home, with a maximum credit of $8,000. And some current homeowners looking to purchase a home can receive a credit up to $6,500. Although military ... Posted by Michael Dunn @ 8:12 AM on 04/07/2010		More
Home Price Reductions Level off The share of homes on the market with price reductions declined to an average of 21 percent as of Feb. 1, according to Trulia, which has been tracking the information since April 2009.This is a significant decrease compared to November 2009, when 26 percent of homes had at least one price reductionThe total dollar amount cut from home prices dropped to $22.6 billion as of Feb. 1, down from $28.1 billion ... Posted by Michael Dunn @ 1:38 PM on 02/19/2010		More
10 Must Have Features in Todays New Homes Michael Dunn, Realtor Coldwell Banker Legacy (505) 379-5849 AbqDunn@gmail.com www.MikeDunnSellsNM.com 1. Large Kitchens, With an Island "If you're going to spend design dollars, spend them where people want them -- spend them in the kitchen," McCune said. Granite countertops are a must for move-up buyers and buyers of custom homes, but for others "they are on the bubble," Cardis said. 2. Energy-Efficient ... Posted by Michael Dunn @ 12:33 PM on 02/05/2010		More
10 Must Have Features in Todays New Homes Michael Dunn, Realtor Coldwell Banker Legacy (505) 379-5849 AbqDunn@gmail.com www.MikeDunnSellsNM.com 1. Large Kitchens, With an Island "If you're going to spend design dollars, spend them where people want them -- spend them in the kitchen," McCune said. Granite countertops are a must for move-up buyers and buyers of custom homes, but for others "they are on the bubble," Cardis said. 2. Energy-Efficient ... Posted by Michael Dunn @ 12:32 PM on 02/05/2010		More
2009 Is over! REAL ESTATE MARKET UPDATE!! Well, 2009 is over. What does that mean? For the Albuquerque residential real estate market, there are some very positive signs that we have hit bottom. There are some who are suggesting that there may be a “double bottom” but that remains to be seen. The last five years. Here are some numbers that might be encouraging. Let’s go back to ... Posted by Michael Dunn @ 11:07 AM on 01/22/2010		More
Currently own a home but want to get a tax credit for selling it and buying another? Who is eligible to claim the $6,500 tax credit?Qualified move-up or repeat home buyers purchasing any kind of home are eligible to claim this credit. What is the definition of a move-up or repeat home buyer?The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a person who has owned and resided in the same home for at least five consecutive years of the eight ... Posted by Michael Dunn @ 2:35 PM on 01/04/2010		More
BREAKING NEWS: Obama Signs Extended Tax Credit into Law BREAKING NEWS: Obama Signs Extended Tax Credit into Law Posted on Nov 06th, 2009 Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010.The legislation, which is part of a larger bill that also extends unemployment benefits, was signed into law by President Obama today. ... Posted by Michael Dunn @ 4:40 PM on 11/06/2009		More
New Welcome Home Magazine out!! CHECK OUT THE NEW WELCOME HOME MAGAZINE COVER!! Call or email me and i will be more than happy to mail you a copy of this magazine which contains all of our homes for sale in and around the Albuquerque area. It does not matter if you are serious buyer, just curious, just looking, live in Albuquerque or live on the other side of the country! i WILL mail you a copy of this FREE of charge to you!! ... Posted by Michael Dunn @ 8:20 PM on 08/19/2009		More
July Sales Report:Positive Trends Continue The number of detached homes sold in metro Albuquerque during July increased from July 2008. The 735 sales represented the first year over year increase since April 2006. The improvement wasn't large, 31 sales or 4.4%, but as is said about athletic contests, a win is a win. July sales were also up 13.2% from June, continuing the monthly sales growth that began in February. The total value ... Posted by Michael Dunn @ 8:45 AM on 08/19/2009		More
Median Home Prices Up; Payments the Same During the past 20 years, the median price of an existing single family home in metro Albuquerque has gone from $144,100 (in 2008 dollars, that is, adjusted for inflation) to $186,500, says the annual "State of the Nation's Housing" report from the Joint Center for Housing Studies at Harvard University. (See www.jchs.harvard.e du/son/index.htm.) The price increase reflects more amenities and larger ... Posted by Michael Dunn @ 11:21 PM on 07/28/2009		More
Truth in Lending Disclousure As you may know, beginning July 30th the Federal Reserve has made changes to the Regulation Z form for mortgage lending (also known as the truth in lending disclosure or TIL). Here is a summary of what to expect: At loan application, a truth in lending disclosure will be provided to your borrower within 3 business days. This is standard procedure and will not change. Once the loan is approved ... Posted by Michael Dunn @ 2:29 PM on 07/16/2009		More
Pending Homes Sales up for the 4th Straight Month!! <embed src="http://c.brightcove.com/services/viewer/federated_f8/1465406675" bgcolor="#FFFFFF" flashVars="videoId=28181829001&playerId=1465406675&viewerSecureGatewayURL=https://console.brightcove.com/services/amfgateway&servicesURL=http://services.brightcove.com/services&cdnURL=http://admin.brightcove.com&domain=embed&autoStart=false&" base="http://admin.brightcove.com" ... Posted by Michael Dunn @ 4:49 PM on 07/13/2009		More
Is Mortgage Forgiveness the Answer?? Curious as to what your thoughts on this subject are?? Please contact me with your thoughts! @AbqDunn@gmail.com (on twitter) AbqDunn@gmail.com (505) 379-5849 Some housing experts say the next logical step for helping home owners with negative equity is loan forgiveness.Home owners with no equity stake and no likelihood of having one anytime soon are increasingly likely to ... Posted by Michael Dunn @ 12:43 PM on 07/01/2009		More
More Owners Walk Away when Underwater What are YOUR thoughts on this?? Contact me via @AbqDunn (on twitter), email me or call me. I value your opinion and thoughts! Michael Dunn, Coldwell Banker Legacy. AbqDunn@gmail.com (505) 379-5849 A study of the Massachusetts housing market by researchers from Northwestern University and the University of Chicago concludes that a home owner's propensity to default increases the further their ... Posted by Michael Dunn @ 12:37 PM on 07/01/2009		More
Home-Sale Hassles of the Rich & Famous "Your Home Sold in 90 Days or We'll Buy It....Guaranteed!!" Contact Michael Dunn today for ALL of your Real Estate needs! AbqDunn@gmail.com (505) 379-5849 www.MikeDunnSellsNM.com @abqdunn (on twitter) Home-Sale Hassles of the Rich and Famous Anybody having trouble selling their home should take comfort in the fact that even celebrities are having the same problem. Here are some celebs who can't seem ... Posted by Michael Dunn @ 8:24 PM on 06/23/2009		More
How to Wooo First Time Homebuyers! First-time home buyers can be tough to catch because they are wary of overpaying and skeptical about buying homes in need of improvement.A survey for Coldwell Banker last year found that 81 percent of first-time buyers said move-in conditions were very important. Only 7 percent were willing to consider fixer-uppers that they could buy cheaply.Here, according to Coldwell Banker Associated Brokers in ... Posted by Michael Dunn @ 6:03 PM on 06/16/2009		More

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Coldwell Banker Legacy REALTORS® is a full service real estate company in New Mexico with eleven offices located in the Albuquerque Metro Area; Rio Rancho, the East Mountains, Los Lunas, Grants, and Cedar Crest. We represent buyers and sellers for New Mexico residential and investment properties such as single family homes, multi-family homes, owner occupied and investment properties, condominiums, townhouses, and 55 and over housing. Coldwell Banker Legacy services Albuquerque and the surrounding real estate markets: Northwest, Northeast, Southeast, and Southwest Albuquerque, North Valley, Corrales, Rio Rancho, Placitas, and East Mountains. We specialize in new construction, luxury, ranch and recreational real estate properties. ColdwellBankerLegacy.com is your source for New Mexico Real Estate Services. Contact one of our qualified experienced real estate agents today.

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