When asked this question there were many responses.Here are just a few.

You can certainly buy a second home, or a third, etc. but they become investment property as the law allows only one homestead. Depending on your location and their laws, you can live in the house a certain amt. of time, then apply for or claim residency in that state. At that time, look into which house you wish to homestead. You may be able to change your homestead depending on the State's laws. However, homestead the home with the highest taxes and it will save you a lot of money. Any improvements you do to your income property are tax deductible, so you may want to fix it up before you homestead it. You may want to check on the laws concerning that option as well. It may be required for it to be a proper rental for a certain amt. of time. I have 3 homes, but in the same state. I save a fortune in taxes with income property deductions. Home Buyer, Beaumont, TX

Absolutely, yes. Just be aware that you may not be able to take tax deductions for the mortgage, etc., on a second (or third! or however many you want) as you do for your principal residence--talk to a tax person about your specific circumstances.Home Buyer, Albuquerque, NM

I think you need to decide the "why" behind you buying another house. Building wealth by buying real estate is attainable for most everyone. That could be your "why", but if you use one of the homes as a rental you must understand the benefits/risks of being a landlord. Being a landlord is not for everyone. It is not about just collecting a check each month. It does require time and knowledge on the house systems and maintenance. I love real estate for building wealth by acquiring homes at a reduced price that need some rehab before renting. Do your homework, though. Not every house on the market will give you a profit. Using cash to buy your next home is a great way to get a better deal. Sellers love cash and quick closing. You can also get cash out of the equity you have in the home you currently own. Talk to a lender to find out more options. Lastly, educate yourself. Home Buyer, East Wenatchee, WA

So when thinking of buying Real Estate in Taos or Angel Fire turn to the Ladies at New Mexico Mountain Property. Are you ready to buy a home or condo in Angel Fire or Taos Ski Valley? Maybe one that puts you close to the slopes we are here to assist you with your all of your Real Estate needs in Angel Fire or Taos. Perhaps you want to live in an Earthsip we have many to choose from. Are you looking to build your dream home? We have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

Traditionally, your mortgage payment is a monthly cost. But many mortgage lenders also offer biweekly mortgage payment plans that allow you to pay in installments every two weeks instead of every month. Biweekly payment plans sound simple and straightforward: You pay biweekly instead of monthly and reduce the balance on your loan faster. In theory, by using one of these plans, you pay less interest over time, build equity faster, and get rid of your mortgage ahead of schedule. Unfortunately, these mortgage payment plans don't always work as well as they claim. What actually happens is that you send in your biweekly payment to the company servicing the loan, and then they hold your payment until the second one arrives. Only after the company has the full monthly payment amount do they apply the money to your mortgage -- which means as far as the mortgage company is concerned, you're still making one payment per month.

In effect, this saves you nothing in interest because your funds are still only being applied as if you were making monthly payments. Worse still, some biweekly mortgage payment plans can actually ending up costing you more money, because the companies that offer these plans often charge additional fees to handle and deliver the payments for you. If you know you have an extra $100 in your budget each month, tack that on to your payment. For example, on a $100,000 loan (assume a 30-year fixed mortgage and 4% interest), paying an extra $100 a month can cut approximately 8.5 years off the life of the loan -- and save $22,463.76 in interest. That's some serious cash.

Another option? Create your own biweekly payment plan. By skipping the third-party processing (and the fee they add on for doing so), you'll end up making an extra payment each year that you wouldn't make if you paid monthly. You can also continue to pay monthly but make one extra mortgage payment at some point during the year to get the same result. Anytime you have extra money on hand -- from a tax return, bonus from work, or gift -- you can apply these funds to your mortgage too.

Just be sure that any extra payments you make are applied to the principal of your loan, not just the interest. You'll also want to ensure that the terms of your mortgage will not leave you with a prepayment penalty should you pay extra or early.

With that in mind when you are ready to buy a home or condo in Angel Fire or Taos Ski Valley that puts you close to the slopes we are here to assist you with your Real Estate needs. Perhaps you want to live in an Earthsip we have many to choose from. Are you looking to build your dream home? We have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

Keep Your Eyes Peeled:

Put away the Legos. Clear the desk clutter. Vacuum up the dog hair. Nearly 74 percent of real estate agents said that the cleanliness of a home is the most important sight-based feature to home buyers. Someone looking for a new home doesn't want to have to use their imagination to determine if the house is a fit for their lifestyle.

The Smell of Home:

Vanilla and fresh scents (think mountain air or clean laundry smell) are the most popular and appealing fragrances when staging a home. In fact, vanilla is such a powerful scent, studies have shown it's linked to positive nostalgic memories, reducing stress and anxiety and producing a sense of calm.

First Impressions Make a Lasting Impression:

While the majority of real estate agents said the most important rooms to focus on staging are the kitchen and living rooms, they emphasize not to forget about the entryway. The look and feel of the entryway is the first opportunity to make a full sensory impression on the home buyer. Additionally, homeowners should consider incorporating ambient music, fresh flowers, and a clear path to the rest of the home.

Color Correction:

Bright or funky color palettes such as reds, oranges, and yellows are the least appealing. Instead, neutral colors such as eggshell, white, and ivory are the most appealing because they represent a clean, blank canvas. The dominant senses of selling a home are sight and smell, so focus your efforts on fresh, calming fragrances, a neutral color palette, and an inviting first impression as potential buyers walk in the door.

So are you interested in selling or buying Taos or Angel Fire Real Estate we are the company to contact.Is it land in Taos or Angel Fire that you desire? We have many lots or larger parcels to choose from. Maybe you are searching for the perfect Angel Fire or Taos Ski Valley condo that puts you close to the slopes? We are here to help with all of your Angel Fire or Taos Real Estate needs. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. We are dedicated to bringing you the Best Real Estate throughout 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.

Information obtained from Trulia

Are you worried that a low credit score will affect your dream of owning a home? Check out these four tips to buy a house even with a low score.

Save a larger down payment

This would likely mean a down payment of 20% of the home value or higher.

Go with a FHA loan

Know what to emphasize to a lender

For instance, showing on-time rent payments for a year or more, or cash reserves of at least six months will help portray you as a less risky loan candidate.

Try a private mortgage Private loans can come from any party with the available funds to pay for your home purchase in full, upfront -- e.g., a family member, friend, or private lender.

Maybe you are searching for the perfect Angel Fire or Taos Ski Valley condo that puts you close to the slopes? We are here to help with all of your Angel Fire or Taos Real Estate needs. So are you interested in buying or selling Taos or Angel Fire Real Estate we are the company to contact.Is it land in Taos or Angel Fire that you desire we have many lots or larger parcels to choose from. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. We are dedicated to bringing you the Best Real Estate throughout 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.

Information obtained from Trulia

Before you plan to spend the maximum amount you've been approved for, consider whether you can really afford the mortgage your lender offers. Here's how to determine how much of a mortgage payment your budget can handle each month.

Calculate your true monthly cost

If you want an in-depth look at your potential mortgage payment, look for a mortgage calculator that includes costs like homeowners insurance or property taxes.

Know the legal limits on lenders

According to the Mortgage Reform and Anti-Predatory Lending Act, a section of the Dodd-Frank Act of 2010, any entity lending money for a mortgage cannot underwrite the loan unless they determine you can reasonably repay it.

Your mortgage should take up no more than 28% of your monthly income

You can use 28% as your rule of thumb too when making a budget for buying a home. Here's an easy formula: Multiply your monthly income by 28, then divide that by 100. The answer is 28% of your monthly income.

Maybe you are searching for the perfect Angel Fire or Taos Ski Valley condo that puts you close to the slopes? We are here to help with all of your Angel Fire or Taos Real Estate needs. So are you interested in buying or selling Taos or Angel Fire Real Estate we are the company to contact.Is it land in Taos or Angel Fire that you desire we have many lots or larger parcels to choose from. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. We are dedicated to bringing you the Best Real Estate throughout 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.

Information obtained from Trulia

Heed these suggestions from real estate pros to ensure your property gets the highest possible price.

Stage and declutter your home. It's remarkable what regular home maintenance, cleanliness, and minimizing clutter in your everyday life can do for you when it comes time to sell.

Clean it up! If it's dirty, it will not sell -- even if it's a great place.Raise window blinds, lower toilet seats -- make sure the place looks at least as good as it would if you were having your boss over for dinner.

Enhance your curb appeal.

Pay attention to details. Wash your windows, replace compact fluorescent bulbs with incandescent or halogen, and remove or minimize personal photographs.

Refresh your kitchen and bath. Choose a neutral palette to increase the appeal to as many tastes as possible; buyers need to be able to easily visualize themselves living in the home, and bright colors might turn them off.

Invest in good photos.

Don't DIY everything. First and foremost, for correct pricing, widest and best marketing, and the highest price, hire a real estate agent like the professionals at New Mexico Mountain Properties.

So with that in mind are you looking to sell your Angel Fire or Taos property call on us. Perhaps you want to buy a home in Taos or Angel Fire. We are dedicated to bringing you the best in real estate in the Enchanted Circle. If buying or selling Angel Fire property call us at (575) 377-2626. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852. We have lots and larger parcels for sale in Taos and Angel Fire to build your "Dream Home". To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

Minimize what you'll owe and maximize what you'll get back at tax time.

To ensure you're not missing out on any hefty tax breaks, consider these three common home–related tax breaks that are often missed, overlooked, and underused.

State and local tax breaks for green home improvements. homeowners have taken steps to improve their home's energy efficiency.Many of those improvements are eligible for state, county, and/or city tax credits -- or tax breaks. If you've installed dual-paned windows, insulation, low-flow plumbing appliances, tankless water heaters, or solar panels last year, dig up your receipts.

Mortgage interest tax break Many homebuyers expressly call out the mortgage interest tax deduction as a major motivation behind their desire to own a home. The ability to write off interest on up to $1 million of mortgage debt shifts the affordability equation

COD tax exemptions Normally, defaulted mortgage debt that is forgiven through a foreclosure, short sale, deed in lieu of foreclosure, or settlement via partial payment is actually charged to a taxpayer as income. It's called cancellation of debt, or COD.

So with that in mind maybe you want to turn your savings into a new home in Taos or Angel Fire. Are you looking to sell your Angel Fire or Taos property call on us. We are dedicated to bringing you the best in real estate in the Enchanted Circle. If buying or selling Angel Fire property call us at (575) 377-2626. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852. We have lots and larger parcels for sale in Taos and Angel Fire to build your "Dream Home". To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

It's good to hear that some home buyers will finally get a break. Mortgage insurance premiums are slated to go down by 0.25% on Federal Housing Administration–insured loans that close on or after Jan. 27, the agency announced on Monday. (Buyers who don't put down at least 20% on their homes are typically required to pay the monthly--and often costly--mortgage insurance.)

A quarter of a percentage point may not sound like much, but it's expected to save new homeowners an average of $500 a year.

So when you are ready to buy a home or condo in Angel Fire or Taos we are here to assist you in all your Real Estate needs in Taos or Angel Fire. Are you looking to build your dream home we have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Realtor.com

Just because you upgrade doesn't mean you'll profit when it comes time to sell.

Five common upgrades with the worst return on investment

Adding a pool

Highly custom designs

Room conversions

Incremental square footage gains

Over-improving

When your upgrades feel overboard for your neighborhood, you alienate buyers on two fronts: buyers who are drawn to your neighborhood won't be able to afford your home, and buyers who can afford a home of your caliber will prefer to be in a ritzier area.Being a little nicer than the other houses around you can be a selling point, but being vastly more luxurious is not.

So when you are ready to sell or buy a home or condo in Angel Fire or Taos we are here to assist you in all your Real Estate needs . Are you looking to build your dream home we have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852. Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

Understanding the truth about VA loans can help homeowners and buyers take advantage of a solid financing option.

Generations of veterans and military members have relied on the VA loan program to achieve the dream of homeownership. Today, this $0 down mortgage option is booming in a time of tight credit. But millions of veterans and military families are still missing out.

This is the most powerful mortgage option on the market for scores of military buyers. Qualified borrowers can purchase up to $417,000 in most parts of the country before having to factor in a down payment. There's no mortgage insurance on VA loans, and they feature more flexible and forgiving requirements than other loan types. This program exists to help get veterans into homes. Sellers should understand it does exactly that, often better than other mortgage options. About 72 percent of the VA purchase applications filed during the summer months went on to close.

This one stems from the sometimes slow-moving VA program of yesteryear. A focus on improving automation and responsiveness has helped VA loans catch up with the field in terms of time to close. The average VA purchase loan closed in 40 days, that's one day longer than conventional, and two days faster on average than FHA financing.

Few aspects of VA loans engender more misconception than the appraisal process. Properties need to meet broad requirements to help ensure veterans are getting move-in-ready homes that are safe, structurally sound and sanitary. Fixer-uppers and foreclosures can be tough for VA financing.

Sellers can pay all of a buyer's loan-related closing costs and up to 4 percent of the purchase price in concessions, which can cover things like prepaid taxes and insurance or paying off collections. But they're not required to pay anything on a buyer's behalf. Confusion comes in because the VA limits what lenders can charge buyers, and there are a few costs they're actually not allowed to pay. But that doesn't mean sellers have to foot the bill. Regardless of the loan type, it's still a real estate transaction -- nearly everything is negotiable.

So when you are ready to buy a home or condo in Angel Fire or Taos we are here to assist you in all your Real Estate needs in Taos or Angel Fire. Are you looking to build your dream home we have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.

Information obtained from Trulia