Buying a home? Time to get familiar with some common real estate terms. Here are nine real estate terms we think you should know.

Fico Scores

Down Payment

Cumulative Interest

Flexible Payment Arm

Fannie Mae

Sweat Equity

Liquid Assets

Balloon Mortgage

Escrow

So when looking to sell or buy the Best in Taos or Angel Fire Real Estate check with the ladies at New Mexico Mountain Properties. Are you looking for the perfect home in Angel Fire or Taos,maybe a condo in Taos, close to the plaza or a home or condo close to the slopes in Angel Fire we are the ladies to call on. Do you want to lessen your imprint on the world buy an Earthship designed for green living. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852.

Perhaps you are wanting to build your dream home we have lots and larger parcels to choose from in Taos and Angel Fire. Does lakeside living appeal to you? We have many lakeside lots available in Angel Fire's private community of Hidden Lake.Do you prefer views of the Angel Fire Resort Ski Slope, check out the lots for sale in Taos Pines Ranch.If buying or selling Angel Fire property call us at (575) 377-2626.

We are dedicated to bringing you the Best in Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community....the mountains are calling...!!

Information obtained from Trulia

It's slim pickings out there. And this year, the inventory crunch is even worse. Home inventory is now at a post-recession low, down 9.1 percent nationally in the third quarter compared to a year ago.And this winter isn't shaping up to break the trend, so buyers in many markets should be prepared for slimmer pickings. If you're committed to buying this winter, it may be time to widen your idea of what your dream home looks like or which block it's on.For first-time buyers, though, the outlook in winter is sunnier. The inventory of less-expensive starter homes actually increases by about 7 percent in the last three months of the year compared to the spring.

The upside of shopping in winter is that many would-be buyers call it quits till spring. That means less competition, a welcome reprieve for those disheartened by packed open houses and seemingly unwinnable bidding wars.Homes that are on the market in winter often have motivated owners who cannot wait that long. These homes, especially those that failed to sell in the fall and are still on the market, may be ripe for a lowball offer.

With fewer shoppers in the market, prospects brighten for buyers with an FHA loan. These loans, backed by the Federal Housing Authority, have looser requirements than conventional loans, making them less appealing to home sellers who are getting all-cash offers or conventional loan buyers with big down payments. In winter, home inspections may be more notable for what they don't include than what they do. Snow may cover the roof. Be aware of the gaps in the inspection and pay close attention to the age and type of the roof and air conditioner.

Interest rates shift more with economic conditions and policy decisions than with the seasons. And rates have been so stable, hovering around 4 percent all year.But don't get too complacent. The Federal Reserve recently hinted at future increases, and the Mortgage Bankers Association has predicted that the Fed will raise rates in December and three times in 2018, though they also predict that 30-year-mortgage rates will remain below 5 percent throughout the year. It's wise to watch this closely. If rates rise while you're house-hunting, it can make a real difference in what you can afford.

So when looking to sell or buy the Best in Taos or Angel Fire Real Estate check with the ladies at New Mexico Mountain Properties. Are you looking for the perfect home in Angel Fire or Taos,maybe a condo in Taos, close to the plaza or a home or condo close to the slopes in Angel Fire we are the ladies to call on. Do you want to lessen your imprint on the world buy an Earthship designed for green living. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852.

Perhaps you are wanting to build your dream home we have lots and larger parcels to choose from in Taos and Angel Fire. Does lakeside living appeal to you? We have many lakeside lots available in Angel Fire's private community of Hidden Lake.Do you prefer views of the Angel Fire Resort Ski Slope, check out the lots for sale in Taos Pines Ranch.If buying or selling Angel Fire property call us at (575) 377-2626.

We are dedicated to bringing you the Best in Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community. Cool Fresh Mountain Air Is Waiting Just For You!!!

Information obtained from Trulia

Now is the time to get things in order for a home search next year. 7 Steps to Be Ready to Buy a House in 2018

1. Check your credit score.

2. Don't open new credit cards.

3. Suggest financial gifts for the holidays.

4. Interview potential real estate agents.

5. Keep tabs on interest rates.

6. Find a mortgage lender.

7. Get preapproved.

To help you find that perfect piece of paradise, is New Mexico Mountain Properties, where we are dedicated to bringing you the Best in Real Estate throughout the Enchanted Circle. We take the time to help you find just what you are looking for, from our stunning mountain homes for sale in Angel Fire and the unique homes for sale in Taos, to the wide open Taos and Angel Fire land for sale. Want seclusion from the mundane try our Earthship homes for sale in Taos and get in touch with nature. Our Angel Fire condos for sale offer beauty and walking distance to the Resort. Perhaps you are interested in selling your Taos or Angel Fire home,condo or land we are the ladies to call on. Whatever you're looking for we will help you buy or sell it. Our agents go above and beyond the normal to give you the extraordinary!! So give us a call at 575-377-2626 in Angel Fire or 575-758-5852 in Taos. To speak directly to an broker call Paula at 575-770-3306. Let us welcome you to this truly magical area.... the mountains are calling !!

Information obtained from Trulia

1. It could save you money.

It can seem daunting to make repairs before you list your home, but it can save you in the long run.

2. It could lead to a faster close.

Getting your house in the best shape possible should help speed up the sale process.

3. It can give you a competitive edge.

A prelisting home inspection can signal to potential buyers that you've done the due diligence on their future home. It can give potential buyers confidence in you as an honest seller and in the quality of the home you are selling.

4. Definitely fix the deal breakers.

5. What should you do if you can't fix the major problems?

If you can't afford to make those major improvements, you can still spruce up the house before you list it.

6. Is there a downside to a prelisting home inspection?

While there are many upsides to getting a prelisting home inspection, some experts don't like the idea. Some pros feel that instead of wasting time and money upfront, a seller should wait for the results of the home inspection and add repairs to the closing cost. While this is an option, you may be hit with a surprise that causes your sale to fall through.

7. Bottom line: Prelisting home inspections are often a good idea.

The prelisting home inspection can put a nervous seller at ease and give you a better chance for a fast and easy close.

Are you looking for the perfect home in Angel Fire or Taos,maybe a condo in Taos, close to the plaza or a home or condo close to the slopes in Angel Fire we are the ladies to call on. Do you want to lessen your imprint on the world buy an Earthship designed for green living. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852.

Perhaps you are wanting to build your dream home we have lots and larger parcels to choose from in Taos and Angel Fire. Does lakeside living appeal to you? We have many lakeside lots available in Angel Fire's private community of Hidden Lake.Do you prefer views of the Angel Fire Resort Ski Slope, check out the lots for sale in Taos Pines Ranch.If buying or selling Angel Fire property call us at (575) 377-2626.

We are dedicated to bringing you the Best in Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community.... Cool Fresh Mountain Air Is Waiting Just For You!!!

Information obtained from Trulia

You can deduct the interest you pay on your mortgage.

The home mortgage interest deduction is probably the best-known tax benefit for homeowners. This deduction allows you to deduct all the interest you pay toward your home mortgage.

You may be able to deduct points.

Points are essentially prepaid interest that you offer upfront at closing to improve the rate on your mortgage. The more points you pay, the better deal you get.

Depending on the year and your income level, you may be able to deduct PMI.

Private Mortgage Insurance, or PMI, protects the bank in the event you default. PMI may be required as a condition of a mortgage for first-time home buyers, especially if they can't afford a large down payment.

Real estate taxes are deductible.

Most banks or other mortgage lenders will factor the cost of your real estate taxes into your mortgage and put those amounts into an escrow account. You can't deduct the amounts paid into the escrow, but you can deduct the amounts paid out of it to cover the taxes. If you don't escrow for real estate taxes, you'll deduct what you pay out of pocket directly to the tax authority. And don't forget about those taxes you paid at settlement. If you reimburse the seller for taxes already paid for the year, you get to deduct those too.

Your other tax deductions may matter more.

To take advantage of these tax benefits, you have to itemize your deductions on your tax return.

You'll get capital gains tax relief down the road.

Resale value is something you considered when you chose your home. And different from other investments for which you're taxed on the full value of any gain, you can exclude some of the gain attributable to your home when you sell.

Under current law, you can avoid paying tax on up to $250,000 of gain ($500,000 for married filing jointly) so long as you have owned and lived in the property for two of the last five years (those years of owning and inhabiting don't have to be consecutive).

Gain over that amount is taxed at capital gains rates, which are generally more favorable than ordinary income tax rates.

So whether you are a first time home buyer looking for Taos or Angel Fire real estate, or you are a homeowner wanting to sell your Taos or Angel Fire real estate give the ladies at New Mexico Mountain Properties a call. We are dedicated to bringing you the best in real estate throughout the Enchanted Circle. Perhaps you want to buy a home, condo, earthship or land in Taos give us a call at (575)758-5852. If you don't see what you are for on our website you can access the area MLS system from this site. If you are looking to buy or sell a home,condo, land, ranch,or commercial property in Angel Fire call (575) 377-2626. To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community. Cool Fresh Mountain Air Is Waiting Just For You!!!

Information obtained from Trulia

1. Do your research

To come up with a reasonable price, you need to know about two things: the local market and the seller. Start by researching local selling prices for homes comparable to the one you're looking to buy. This will give you an idea of the fair market price.

2. Have a lender back you up

Unless you'll be offering to pay cash for a home (and few of us can), you'll need to take out a mortgage and sellers often want to be assured that you can get one.

3. Seek professional help

With so many moving parts in a real estate transaction (and so much confusing terminology), you'd be smart to get the assistance of a real estate agent and a real estate attorney to protect your interests.

4. Protect your money

Your purchase agreement should note how much you're willing to offer for a down payment. Arrange to have the deposit held in an escrow account (not with the seller), so that your money can be returned to you if the offer falls through.

5. Seal the deal

When you're ready, deliver the offer to the seller or to the seller's real estate agent.This process will continue until the seller and the buyer mutually agree, or until the offer is rescinded. Once an offer is accepted by both parties and signed, it becomes a binding contract, so it's imperative that you understand the offer's contents fully before signing.

To help you find that perfect piece of paradise, is New Mexico Mountain Properties, where we are dedicated to bringing you the Best in Real Estate throughout the Enchanted Circle. We take the time to help you find just what you are looking for, from our stunning mountain homes for sale in Angel Fire and the unique homes for sale in Taos, to the wide open Taos and Angel Fire land for sale. Want seclusion from the mundane try our Earthship homes for sale in Taos and get in touch with nature. Our Angel Fire condos for sale offer beauty and walking distance to the Resort. Perhaps you are interested in selling your Taos or Angel Fire home,condo or land we are the ladies to call on. Whatever you're looking for we will help you buy or sell it. Our agents go above and beyond the normal to give you the extraordinary!! So give us a call at 575-377-2626 in Angel Fire or 575-758-5852 in Taos. To speak directly to an broker call Paula at 575-770-3306. Let us welcome you to this truly magical area.... the mountains are calling !!

Information obtained from Trulia

But what is earnest money? Earnest money is a deposit you pay to show the buyer you're serious about the transaction. Both the buyer and the seller want to make sure the deal goes through, and an earnest money deposit helps give the deal solid footing. It's important to understand what earnest money is and how it can affect your transaction when buying a home.

Is earnest money a legal requirement to buy a home?

No. But money talks and deposits keep buyers from changing their minds.

How much money do you need?

Earnest money amounts vary by area and can range from 1% of the home purchase price to 5%,depending on the type of home you're purchasing.

Are deposits ever nonrefundable?

Real estate contracts dictate timelines and responsibilities for both buyers and sellers. Buyers risk losing their deposit when they don't comply with the contract's terms, and sellers lose valuable marketing time.

How are disputes handled?

If a deal closes within the contract's timeline and you're able to provide documentation, you'll likely get your money back or, depending on the agreement, it will be applied as a credit toward the purchase price of the home. But every situation is different, and issues can and do arise.

Who gets to keep the money?

One of three scenarios will occur: The buyer has refunded the money because of failed contingencies; the deposit is applied to the purchase price or refunded to the buyer when the sale closes, or the seller receives the deposit because the buyer backed out of the deal for reasons not covered in the contract.

Is it ever fair to forfeit a deposit?

If you back out of the agreement for reasons not covered under your contingency agreement, you may not get your deposit back. Be sure you fully understand how failed contingencies affect both you and the seller to avoid confusion and heartbreak later on.

Are you looking for the perfect home in Angel Fire or Taos,maybe a condo in Taos, close to the plaza or a home or condo close to the slopes in Angel Fire we are the ladies to call on. Do you want to lessen your imprint on the world buy an Earthship designed for green living. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852.

Perhaps you are wanting to build your dream home we have lots and larger parcels to choose from in Taos and Angel Fire. Does lakeside living appeal to you? We have many lakeside lots available in Angel Fire's private community of Hidden Lake.Do you prefer views of the Angel Fire Resort Ski Slope, check out the lots for sale in Taos Pines Ranch.If buying or selling Angel Fire property call us at (575) 377-2626.

We are dedicated to bringing you the Best in Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community. Cool Fresh Mountain Air Is Waiting Just For You!!!

Information obtained from Trulia

Expect property taxes, homeowners insurance, and lender's costs to be part of your settlement-day tab. A few days before you meet with your real estate agent, a title company representative, and your loan officer for this joyous event, you should have received from the title company a copy of your closing documents. Read these documents carefully they will include details on the closing costs that are due upon settlement.

What are closing costs?

Closing costs are lender and third-party fees paid at the closing of a real estate transaction, and they can be financed as part of the deal or be paid upfront. They range from 2% to 5% of the purchase price of a home.

What's included in closing costs?

Closing costs will cover both recurring and nonrecurring fees that are a part of your transaction.

Recurring costs are ongoing expenses that you will continue to pay as a homeowner, with a portion due upon closing.

Nonrecurring fees are one-time fees associated with borrowing money and the services that were required to purchase the property.

How to prepare for closing costs

The best time to study closing costs is when you're shopping for a lender and can compare your desired loan amount with interest rates you're offered (plus any discount points you might plan to pay upfront to lower those rates). Then use a closing-cost calculator to determine what your costs might be. The calculator will gauge your monthly mortgage payments, based on whether you're financing the closing costs into your mortgage or whether you've decided to pay them upfront.

When you are ready to buy real estate in Taos or Angel Fire call on the ladies at New Mexico Mountain Properties. Are you looking for the perfect home in Angel Fire or Taos,maybe a condo in Taos, close to the plaza or a home or condo close to the slopes in Angel Fire we are the ladies to call on. Do you want to lessen your imprint on the world buy an Earthship designed for green living. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852.

Perhaps you are wanting to build your dream home we have lots and larger parcels to choose from in Taos and Angel Fire. Does lakeside living appeal to you? We have many lakeside lots available in Angel Fire's private community of Hidden Lake.Do you prefer views of the Angel Fire Resort Ski Slope, check out the lots for sale in Taos Pines Ranch.If buying or selling Angel Fire property call us at (575) 377-2626.

We are dedicated to bringing you the Best in Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community. Cool Fresh Mountain Air Is Waiting Just For You!!!

Information obtained from Trulia

How can saving money here and there add up? Here are 7 ideas to help you save for a house in one year.

1. Slash Your Rent

Move in with a friend, family member, or roommate to lower this expenses for the year. Saving $50 per month means an extra $600 in your pocket for the year.

2. Rethink What's Essential

When it comes to budgeting, even having a car (or an extra car) should be up for debate. When it comes to budgeting, even having a car (or an extra car) should be up for debate.

3. Ditch the little expenses

Make your own coffee, color your own hair, and cut your cable cord. The average cable bill costs about $100 per month. Most streaming services are less than $10 per month. This will give you a monthly savings of $90. Cut back on the number of times you eat out or take out meals each week. If grabbing lunch at a local place costs $10 but packing your own costs only $4, a DIY approach could add up to a monthly savings of $180.

4. Go Back to Basics

Your cell phone, insurance plan, and credit cards: These are the cost of 'operating' your life. Request discounts, switch to basic plans where possible, and look for reward plans. Making changes could save you close to $400 per month.

5. Find a Side Job

While taking on extra work or a second job might not be sustainable for years, doing so for 12 months will help give you the boost you need to save that $50,000.

6. Embrace Minimalism

Did you splurge on something you never even wore? New, unopened items like shoes or designer perfume can go for a fair price.You could earn up to $1000, on average, by re-selling the items in your closet. Once you've mined that source, open a few boxes in the basement. Vintage vinyl, signed copies of books, even matchbox cars, pin collections and posters (especially those in mint condition) are worth more than the effort of posting, packing, and selling.

7. Get Wise About Entertainment

Eliminate expensive entertainment. If you're used to buying a bottle of wine and a six-pack at the store each week, your alcohol tally could be up to $65 per month. Try the no-spend weekend and you could be looking at an additional monthly savings of $45. Exercising at home instead of paying for a gym membership (or finding free yoga classes in your area) can slim your budget with a monthly savings of $60 per month.

When you are ready to buy real estate in Taos or Angel Fire call on the ladies at New Mexico Mountain Properties. Are you looking for the perfect home in Angel Fire or Taos,maybe a condo in Taos, close to the plaza or a Home or condo close to the slopes in Angel Fire we are the ladies to call on. Do you want to lessen your imprint on the world buy an Earthship designed for green living. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852.

Perhaps you are wanting to build your dream home we have lots and larger parcels to choose from in Taos and Angel Fire. Does lakeside living appeal to you? We have many lakeside lots available in Angel Fire's private community of Hidden Lake.Do you prefer views of the Angel Fire Resort Ski Slope, check out the lots for sale in Taos Pines Ranch.If buying or selling Angel Fire property call us at (575) 377-2626.

We are dedicated to bringing you the Best in Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community. Cool Fresh Mountain Air Is Waiting Just For You!!!

Information obtained from Trulia

An open house is your chance to show off your home's best assets. Don't let old carpets or dated fixtures give off the wrong vibe.

1. Paint (parts of) the exterior

2. Kick up your kitchen

If you have an old stove or dishwasher, swap it out for a stainless steel model. Updating light fixtures, replacing old cabinet hardware, or painting older cabinets white also makes your kitchen appear fresh and new without breaking the bank.

3. Replace the vanity in your bathroom

If you have a powder room that hasn't been updated, replace the vanity with a newer model. Add new hand towels, a rug, and a shower curtain to complete the "renovation."

4. Slipcover furniture that has seen better days

If your couch is looking a little threadbare or stained, but you aren't ready to replace it just yet, buy a slipcover in a neutral shade to hide the imperfections. (Then forbid your family from sitting on it until after the open house!)

5. Make your bedroom feel like a hotel suite

So that means corralling all the clutter (books on the nightstand, accessories on the dresser), storing extra pieces of furniture (like that treadmill that doubles as a clothes hanger), and cleaning off bathroom counters.

6. Freshen up your walls and floors

If you have hardwood floors, get them professionally polished before your open house. If you have carpeting, get it professionally steamed before potential buyers come calling. And while you're at it, give your walls a once-over and wipe away any scuff marks. If a new paint job is necessary, consider a neutral shade or a paint color that will make your space feel larger and brighter.

7. Perk up your patio

Add potted plants or flowers for a burst of color and toss any broken outdoor furniture. Outdoor accent pillows are an inexpensive upgrade for loungers and chairs. If it's summer, or you live in a warm climate, set the table too. This way, buyers can imagine themselves eating a meal on the patio or deck.

Sold!!

So whether you want to sell you Taos or Angel Fire home, condo or land turn to the ladies at New Mexico Mountain Properties. Where they are Dedicated to Bringing you The Best in Real Estate in the Enchanted Circle. Perhaps you want to buy a home, condo or land in Taos call us at (575) 758-5852. Are you looking to buy or sell land,home, or condo in Angel Fire call us at (575)377-2626. To speak directly to a broker call (575)770-3306. We welcome you to our growing community.

Information obtained from Trulia