Lots of folks these days are looking for deals, and often they find them in foreclosures. Taos and Angel Fire real estate has lagged behind other markets in foreclosures. Our market has been fairly insulated from bank sales, but that may be changing soon. So if you're thinking about a real deal, consider stepping into the foreclosure market. But while you're there, there are a couple of important things that may put your mind as ease about buying a foreclosed property:

Contrary to what you may have heard in the media, title insurance is getting easier to obtain on foreclosed properties due to the bona fide purchaser rule, under which courts would prefer to simply award cash damages to be paid by the culpable bank to a wongfully foreclosed-on homeowner, rather than reversing the sale or ownership to the new, innocent buyer.

If you're waiting for "shadow inventory" to be released, banks are expressing that they are not releasing this inventory in order to avoid flooding the market and driving home values down further. Don't expect to see a huge influx of these shadow homes onto the market anytime soon. If you see a foreclosed home that fits your needs now, buy it now.

As always, we at New Mexico Mountain Properties are honored to have you as clients. We are well versed in foreclosure sales and look forward to helping you find the deal of a lifetime on a special property in the Angel Fire or Taos area. Call us!