The Feds announced an increase of .25% on 14 th of December and in response, long terms rates dropped a bit (because this was expected and was already 'built into' rates) to about 4.25% on a conforming 30 yr fixed mortgage . Federal Reserve Board sets the rate for overnight loans from bank to bank. They raised the rate to .75% and indicated there is likely to be two to three more raises in 2017. Prime is the index connected to most short term loans ( credit cards, autos lines of credit etc.) and is always 3.0% higher than the overnight rate so prime is currently at 3.75% which is still lower (other than the last 8 years), than any prime rate since 1956.

While it seems that long term, rates may increase in the coming year they are likely to still remain low by historical comparisons. While these increased rates will impact the refinance side of our business we don't expect a negative impact on new purchases in 2017.

So when looking for the best Taos or Angel Fire Real Estate let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos, you are sure to find that perfect home. Are you wanting to sell your Taos or Angel Fire home give us a call. Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream home or live off the grid in our stunning Earthship homes for sale in Taos. How about a fabulous condo for sale in Angel Fire or Taos Ski Valley that puts you close to the slopes? Whatever you fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire or 575-758-5852 in Taos our dedicated knowledgeable agents go that extra mile to find exactly what you require. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.

RED RIVER SKI DEAL DAZE

DECEMBER 09 - DECEMBER 11 Get an early start on the season during our Deal Daze! December 9 – 11, 2016 Get great deals on lift tickets!!! Comparison Chart Adult Teen Junior Senior Regular 1 Day Price $73 $67 $57 $57 DEAL DAZE 1 Day Price $45 $40 $35 $35 Regular 1/2 Day Price $55 $50 $40 $40 DEAL DAZE 1/2 Day Price $35 $30 $25 $25 THE YOUNG AT HEART (over 70) ALWAYS SKI FREE AT RED RIVER SKI

TAOS SKI VALLEY

DECEMBER 09 OPENING DAY UPDATES The snow dances are working, so keep it up! Taos Ski Valley is moving up our opening day to Friday, December 9th. Recent snowfalls combined with some impressive work by our dedicated Mountain Crew are allowing us to open a week ahead of what we had previously stated and we couldn't be happier. So tune up your skis and boards...it's time to start the 2016-17 Taos Ski Valley season!

Starting the 9th, Taos will be open 7 days a week through our closing day of April 2, 2017.

ANGEL FIRE RESORT UPCOMING EVENTS

Member Skiing & Snowboarding Preview

December 8 @ 10:00 am - 3:00 pm Angel Fire Resort, + Google Map Calling all Angel Fire Resort Members... Itching to get your first turns in on our mountain for the 2016-2017 Winter Season? Join us from 10:00 a.m to 3:00 p.m. for our Member Skiing & Snowboarding Preview! All members ski and 'board free with their current valid membership cards a day before anybody else.

Winter Season Opening Day

December 9 Angel Fire Resort, + Google Map Tune up your board and skis and join us for our first official day of the 2016-2017 Winter Season on the mountain! Free 2nd Annual Snow Wash

December 10 @ 2:00 pm - 4:00 pm Angel Fire Car Wash, An Angel Fire ritual! That old wise-tail, after you wash your car, it rains? Well we are going to get snow A LOT OF SNOW, after the 2nd Annual Car Wash. Come down for a free car wash at the Angel Fire Car Wash between 2pm to 4pm. A chance to get your car all clean, and increase our chances of snow in the mountain. Member Cookie and Hot Chocolate Social

December 10 @ 3:00 pm - 5:00 pm Angel Fire Resort, + Google Map Ready for the winter season on the mountain? Celebrate the beginning of the season on the deck from 3pm-5pm with complimentary hot chocolate and cookies while socializing with other members. Call (575) 377-3055 with any questions. We look forward to seeing you on the mountain!

When looking for the best Taos or Angel Fire Real Estate let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos, you are sure to find that perfect home. Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream home or live off the grid in our stunning Earthship homes for sale in Taos. How about a fabulous condo for sale in Angel Fire that puts you close to the slopes? Whatever you fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire or 575-758-5852 in Taos our dedicated knowledgeable agents go that extra mile to find exactly what you require. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.

Obtained from Ski New Mexico True & Angel Fire Resort

Going into winter, you'll find that buyers who are willing to trudge through snow to see a home tend to be much more motivated to make a purchase than those who spend a sunny Saturday dropping into open houses.

If you're thinking of listing your home in the next few months, follow these steps to ensure a quick sale at a great price:

1. Skip the holiday décor

Staging basics such as decluttering and depersonalizing still count during the holidays, so it's best to keep the inflatable Rudolph and the tinsel in storage.

You never know who your potential buyer is, you don't want to potentially turn someone off.

If you must decorate remember classic is always best. Hang an elegant wreath on the front door.

Don't overdo the lights; simple white lights can add a festive touch.

Skip the tree and box up the greeting cards.

Decorate a tree only if you have a great room and you want to show off a high ceiling.

2. Update your photo

Its's fine to lead your listing right now with a gorgeous photo of crimson- and gold-leaved trees on the front lawn, but once the leaves have fallen, you'll want a new photo to keep the listing looking fresh. Try to snap photos on days when there's a blue sky, which will pop against a blanket of white snow.

3. Keep the outside neat

Curb appeal is just as important but slightly more difficult to achieve in fall and winter. A leaf- or snow-covered lawn can be beautiful, but it can also get messy quickly. Make sure it's neat and tidy. Put an added focus on raking and removing leaves, and consider hiring a snow-removal service to be sure that your driveway and walkways are clear and safe for visitors at all times.

4. Clear the entryway

You'll want to make sure there's space for a few people (like a couple and their agent) to stand in the foyer, shed their winter clothes, and stomp off the debris on their shoes. Maybe provide an umbrella stand and shoe covers to keep visitors from tracking mud and snow through your home.

5. Make it warm--literally and figuratively

It's vital that a house be warm, but not too warm that people have to peel off all their clothes, but definitely not so cold that they want to get out as fast as possible. If you have a fireplace, make sure it's lit, a roaring fireplace during a weekday showing is a cozy way to celebrate the winter and warm visitors as well.

6. Be more flexible with showings

There are fewer hours of daylight, when your home looks its best, in the winter months, so try to accommodate potential buyers who want to come for daytime visits.

7. Light it up

Even during the day, cloudy gray skies can make window-lined rooms feel gloomy. Adding floor lamps and turning on all the lights will make the property feel more welcoming. Light up every dark corner because they can make a room feel smaller than it is. If visitors are coming at night, you'll want to turn on all your exterior lights as well.

When looking for the best Taos or Angel Fire Real Estate let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos, you are sure to find that perfect home. Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream home or live off the grid in our stunning Earthship homes for sale in Taos. How about a fabulous condo for sale in Angel Fire that puts you close to the slopes? Whatever you fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire or 575-758-5852 in Taos our dedicated knowledgeable agents go that extra mile to find exactly what you require. 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 Realtor.com

This quick tour of the ABCs of home buying will have you fluent in all matters real estate. APR? LTV? WTF?

You're trying to learn how to navigate the confusing world of buying a home, but you keep stumbling across words that you're sure don't appear in the English language.

Assessment? Appraisal? Balloon payment? You've never heard these terms before. What do they mean?

Amortization -- Refers to the repayment schedule on a mortgage. At the beginning of a loan term, most payments are applied toward the interest due rather than the principal. Toward the end of the loan term, the situation flips: The interest has been paid in advance, so most payments apply toward principal paydown.

Appraisal -- Refers to a qualified appraiser providing a written estimate of a property's value. This is considered the most definitive expression of a property's value (short of an actual arms-length transaction) and is often required by lenders.

APR -- Stands for "annual percentage rate" and is the most accurate indicator of the cost of a mortgage loan. The APR reflects all of the closing costs, which can total as much as 3 to 5% of the loan. The best way to price-compare between various mortgages is by looking at the APR rather than the interest rate. The APR can be found on your loan disclosure documents.

ARM -- Stands for "adjustable-rate mortgage," a type of mortgage in which the interest rate fluctuates based on the prevailing rates in the overall economy. Many ARMs will lock in a fixed interest rate for a limited time, such as five years, seven years, or 10 years. Many will also guarantee that a rate increase will be "capped" at a certain maximum, such as 2%.

Assessment -- Refers to the city or county's opinion of the property's value. Important note: Assessments impact your property tax rate. Appraisals do not.

Balloon payment -- Refers to the practice of paying off the entire mortgage balance in full. Some loans (particularly those given to investors) are short-term mortgages that require a balloon payment at the end.

BPO -- Stands for "broker price opinion." Refers to a licensed real estate broker providing a written opinion as to the fair-market value of a property. This is different from an appraisal.

Capital gain -- When an owner sells their home, the increased value of their home is a capital gain. Fortunately, owner-occupants who reside in their primary residence for two years or more do not need to pay capital gain tax on the sale of their property.

Cash-out refinance -- This refers to the practice of taking out a loan over a fixed term (as long as 30 years), borrowed against the equity in a home. For example: A homeowner who possesses a lot of equity can take a "cash-out refi" for tens of thousands, which he then uses to launch a business, buy a rental property, or any other goal.

Closing costs -- A blanket term for all of the ancillary costs associated with borrowing a mortgage and buying a home. This includes title insurance, a loan origination fee, title search fees, recording fees, underwriting fees, and more.

Contingency -- When a buyer submits an offer to purchase a property, they commonly make the offer "contingent upon" some condition, such as financing or a favorable home inspection. This means the offer hinges upon that condition playing out favorably and can be withdrawn if the condition isn't met.

Depreciation -- Many people believe that their home value rises. In fact, the value of the underlying land may rise, but the actual structure depreciates each year. The roof, carpet, paint, HVAC, and other components of the home experience aging and decay. (In markets with rapid appreciation, though, the retail value of the structure might outpace depreciation.) Depreciation is reported on IRS Form 4562.

FHA -- Refers to the U.S. Federal Housing Administration. Many first-time homebuyers opt for loans that are insured by the FHA. Known as FHA loans, these require a smaller down payment (as low as 3.5%).

Fixed-rate -- Unlike an ARM, a fixed-rate mortgage (sometimes just called "fixed") retains the same interest rate over the duration of the loan, regardless of what's happening in the overall economy. A 30-year fixed loan, for example, will retain the same interest rate for the full 30-year span.

GC -- Means "general contractor," a licensed designation that indicates someone who organizes a major renovation and coordinates all the specialty subcontractors such as the electricians, drywall installers, and plumbers.

Highest and best -- Also known as "best and final," this represents the best (seriously, the best) offer you can make the seller. If the seller receives multiple offers, they might call for all the bidders to submit their "highest and best" (or "best and final") offer by a particular deadline, so that they can select among these final offers.

Inspection -- Prior to the purchase of a house, a professional inspector (certified by ASHI, the American Society of Home Inspectors, or an equivalent organization) should spend three to four hours throughly investigating the home. The inspector focuses on structural flaws, mechanicals like plumbing and HVAC, and other aspects of the home. The inspector can furnish a written report but cannot quote a price for repairs (they're not a contractor).

LTV -- "Loan-to-value." This refers to the ratio of the loan amount relative to the overall value of a property. For example: a $70,000 loan on a $100,000 property will have a 70% LTV ratio.

RE -- This is an easy term: "RE" simply stands for "real estate." Many professionals use this shorthand.

Realtor -- Fun fact: Not all real estate agents are Realtors. A real estate agent is an individual who is licensed to buy and sell real estate. A Realtor is an agent or broker who belongs to the National Association of Realtors.

When looking for the best Taos or Angel Fire Real Estate let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos, you are sure to find that perfect home. Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream home or live off the grid in our stunning Earthship homes for sale in Taos. How about a fabulous condo for sale in Angel Fire that puts you close to the slopes? Whatever you fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire or 575-758-5852 in Taos our dedicated knowledgeable agents go that extra mile to find exactly what you require. 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

The "right" time to buy a house has a lot more to do with your personal situation than market factors.

Market conditions and rising rents in areas across the country caused Trulia's Rent Vs. Buy Report to lean strongly in favor of buying for a large segment of the population. Of course, your decision should be based on your personal financial situation (and your ability to stay in your new home for a while), but there are a few key reasons why you may want to sign mortgage paperwork instead of a lease.

Whether you're looking at a home for sale in Taos or Angel Fire, NM, here's the latest info on what you should consider.

1. Rates are still offsetting higher prices

Even with home prices inching up from last year, they don't wash away the huge cost savings lower mortgage rates offer. In fact, according to Trulia's report, for households putting down 20%, with plans to stay at least seven years, buying is on average 37.7% cheaper than renting. This is only a 0.5% increase from 2015. Rates would need to increase well over 100% to wipe out the cost savings of buying. Such an aggressive rate hike is highly unlikely.

2. Buying trumps renting in more than 100 metro areas

If you think buying is cheaper only in smaller, less densely populated cities and towns, reality says otherwise. In fact, it's cheaper to buy than rent in more than 100 U.S. metros.

3. There's no guarantee of stable rental rates

Nationwide, rents have increased 3.5%, which is a slower pace than real estate prices, but it's not insignificant -- and the amount can vary drastically depending on a variety of factors, making rising rental prices an unpredictable part of your financial picture. On the other hand, once rates are locked and paperwork is signed, you can expect to pay the same amount over the course of your mortgage. The only changes could be due to property taxes, insurance rates, or if you opt for an adjustable-rate mortgage over a fixed-rate mortgage.

4. You can build equity over time

This tried-and-true reason to choose homeownership doesn't depend on market conditions. One of the biggest benefits to buying a home is the ability to build equity over time -- equity that can be tapped into later. A monthly rent payment will disappear into the hands of a landlord, but a mortgage payment builds equity that can be used to purchase another home later or provide additional funds in retirement.

5. Tax breaks favor homeowners

Another financial benefit extended to homeowners comes in the form of tax deductions. The early years of paying a mortgage consist in large part of paying down interest, but this expense is tax-deductible.

Property tax is also deductible, as are as mortgage points and private mortgage insurance (PMI).

Another big tax benefit occurs upon the sale of a home. If you profit on the sale of other types of investments, you are required to pay a 15% capital gains tax.

But if you lived in your home two of the last five years before selling, the amount you earn on the sale isn't taxable.

When looking for the best Taos or Angel Fire Real Estate let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos, you are sure to find that perfect home. Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream home or live off the grid in our stunning Earthship homes for sale in Taos. How about a fabulous condo for sale in Angel Fire that puts you close to the slopes? Whatever you fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire or 575-758-5852 in Taos our dedicated knowledgeable agents go that extra mile to find exactly what you require. 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

Buying a vacation home as your first home (instead of renting) may seem counter intuitive. If you live in a big city or in an area with a very competitive (and pricey) real estate market, you might not be able to afford to buy a primary residence -- but you can very likely afford a little getaway home, or someplace else where you'd like to have a retreat.

If the numbers don't work out in favor of buying, consider this: Instead of doling out dough every year to rent a home near the beach, you could own a condo in the same area.

The idea of buying a vacation home as a first real estate purchase and renting a primary home may not seem intuitive to most people, but upon closer inspection, it can definitely make financial sense. For many in large metros, it may be difficult to buy a home that's convenient to where you work and want to live because of skyrocketing home prices and high property taxes so renting makes more sense.

Yet it can be nice to own a vacation home in an affordable area you know, love, and visit regularly. - Although definitely an nontraditional route, buying a vacation home as your first home can be a smart real estate move for some people. Read on to decide if you're one of them.

Should I rent or buy?

The real estate market is thriving, and in many markets, low inventory has made the competition to buy a home even fiercer. But once you trade asphalt for grass, things start to calm down. Prices are shockingly affordable in smaller U.S. towns, and whether you're looking for a home that's a two-hour drive or a two-hour flight away, you'll likely find that you can get more for your money. This isn't to say that all rural areas are alike but by and large, prices become more reasonable the farther you travel from big-name cities. And the property taxes do too.

Do I need a 20% down payment to buy a vacation home?

Not necessarily. Another barrier to entry in a strong housing market is the down payment. Expensive homes require more money upfront, and to compete, you sometimes need to cough up more than the standard 20% down payment -- especially when all-cash deals are becoming more and more commonplace. Once you're looking at properties in the very low six figures, however, that huge initial output suddenly goes away, with loan options that might knock that figure down even further.

What about home-buying stress?

Low inventory, standing-room-only open houses, blink-and-you'll-miss-them properties that go under contract in just hours, overseas all-cash buyers who make buying a first home even more of a challenge -- it can be enough to make you throw up your hands and choose to rent forever. But all that goes away once you start looking in less-competitive areas. With fewer buyers vying for the same homes, properties stay on the market longer, bidding wars are virtually nonexistent, and it's the rare seller who isn't willing to negotiate.

Vacation planning: Done

There's nothing worse than spending another weekend in your cramped apartment while all your acquaintances post yet another round of envy-inducing vacation snapshots on social media. Buy a vacation home, though, and you suddenly have an endless number of getaways stretching out in front of you. Getting out of town is cathartic no matter where you end up, and being able to relax in a space that's all yours, without the hassles that come with hotels (tipping, parking, other guests), is almost meditative. Plus, you're already paying for it, so there's no additional cost, especially if you end up cooking at home.

Can I rent my vacation home?

If you're concerned about juggling the costs of your primary residence and the upkeep and furnishings for a vacation home you own, consider this: Some of those costs could be alleviated by renting out your second home as a vacation property to others. The potential of earning income on the days that you aren't using the property, which would realistically be most of the year, while also taking advantage of property appreciation, can turn an expensive lifestyle into a solid asset.

Be savvy about where you purchase by checking out some nearby vacation rental listings and by researching nearby activities. Does your place have four-season appeal? Is it near a celebrated museum or landmark?

Bonus: A vacation home can be your new social hub

Not everyone wants to buy a vacation home, but no one turns down the chance to visit someone else's. Investing in a second home guarantees a regular rotation of houseguests grateful for the opportunity to get away and spend quality time with friends in a relaxed environment. People you haven't seen in months will suddenly be vying for an invite, especially those with young kids who find it hard to travel. And when the big holidays roll around, you actually have the opportunity to invite your family to travel to you. (The hostess gifts aren't bad either.)

Whether you are looking to buy or sell a home in Angel Fire or Taos, look to New Mexico Mountain Properties for all of your Real Estate needs. Our warm and inviting staff will help you get exactly what you are looking for, like our majestic mountain homes for sale in Angel Fire will give you the mountain setting you may want while our unique Taos homes for sale will let you get in touch with your creative side. Our Taos Ski Valley and Angel Fire condos for sale will put you right next to all the winter activities. If you're looking to build your own home, then our Angel Fire and Taos land for sale will give you the freedom to create your own dream home. If you are seeking to live totally off the grid, then look to our Taos Earthships for sale. Whatever you're looking for we can help you find it. Give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos or 575-770-3306 to speak directly to an agent. We are here to serve and welcome you to our spectacular area.

Information obtained from Trulia

December 2016 may see the end of a number of tax breaks that homeowners took advantage of in the past. No one wants to talk tax when holiday festivities are in full swing. After all, this year's taxes won't matter until next April. Right? Well, maybe for some people, but if you're serious about buying or selling that home in Angel Fire or Taos,NM , you may want to take a moment to step away from the eggnog and tune in to the tax breaks you could take advantage of before the end of the year.

Each year, many tax breaks for homeowners (both buyers and sellers) are set to expire. Congress must pass extensions for certain credits to stay available into the following years. And at this point, it looks as if many breaks for homeowners could be reaching an end. If you own a home -- or are looking to buy a home -- you may need to act now. It could be your last chance to claim qualifying deductions and write-offs. Here's what could go away once 2017 rolls around.

1. No more mortgage debt forgiveness

Typically, when a mortgage lender writes off any part of, or all of, a forgiven debt, the amount that is forgiven is passed back to the borrower as taxable for federal income tax purposes. The rule applies to all debt, including home mortgages . However, this rule was changed by Congress to help struggling homeowners during the Great Recession through the Mortgage Forgiveness Debt Relief Act. Under the rule, qualifying homeowners who either lost their homes to foreclosure or qualified for some kind of repayment adjustment didn't have forgiven debt taxed as income. After being renewed several times in the past, the exception is due to expire at the end of 2016.

There is some good news if you're in the process of discharging mortgage debt: You still qualify for the exception and won't be taxed on the debt if your written agreement with a lender to discharge the debt was created this year. (This means if your debt is actually discharged in 2017, but you signed an agreement in 2016, you'll qualify for the exemption.)

2. Write off mortgage insurance premiums while you can

In a tough market, lenders are a bit more cautious. Buyers who financed homes in the last few years found that many lenders required private mortgage insurance (PMI) to protect the lender in the event of a default. Being able to write off PMI as a deduction is something that changes frequently. In years past, it wasn't an option. Then in 2014, Congress passed a bill that allowed some homeowners who qualified and itemized to claim a tax deduction for the cost of paying PMI for their homes. This even extended to their vacation homes. But you can say goodbye to this deduction once again once we enter January 2017. The deduction expires at the end of 2016.

3. Get your credit for going green

Just bought your first or second home? If you invest in energy-efficient upgrades, you could write off some of the cost. Homeowners who installed electricity-generating systems in 2015 or 2016 can claim 30% of the cost -- and there's no cap on that dollar amount.

Some other energy-efficient home improvements, including things like qualifying insulation, heating and air-conditioning equipment, roofing, doors, windows, and biomass stoves, can get you a tax break too. You can claim up to 10% of the cost of the Earth-friendly improvements you made to your home, up to $500. But both these breaks expire at the end of the year, so act now if you want to take advantage.

Whether you are looking to buy or sell a home in Angel Fire or Taos, look to New Mexico Mountain Properties for all of your Real Estate needs. Our warm and inviting staff will help you get exactly what you are looking for, like our majestic mountain homes for sale in Angel Fire will give you the mountain setting you may want while our unique Taos homes for sale will let you get in touch with your creative side. Our Taos Ski Valley and Angel Fire condos for sale will put you right next to all the winter activities. If you're looking to build your own home, then our Angel Fire and Taos land for sale will give you the freedom to create your own dream home. If you are seeking to live totally off the grid, then look to our Taos Earthships for sale. Whatever you're looking for we can help you find it. Give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos or 575-770-3306 to speak directly to an agent. We are here to serve and welcome you to our spectacular area.

Information obtained from Trulia

Think you're ready to go on the market? If you haven't taken care of this task, you're not.

When it comes time to sell your home, you know you'll need to spend some time cleaning the carpets, decluttering, and landscaping for maximum curb appeal. But there's another key task to add to your to-do list: checking in with your local government to be sure it has accurate information about your home.

No matter the type or size of your home or where it is, your local municipality has documentation on it. Both the building department and the town assessor will have a record about your home. But those records may not match your home's reality -- and any issues you don't resolve could hold up your sale or even kill the deal altogether.

What is the building department?

The town keeps records of every building constructed and every permit issued. It's the job of the lead building inspector to be sure that any changes made to a home meet current codes, and that licensed contractors do the work.

Home health and safety issues are the primary concerns of the building department. Whenever someone applies for a permit, an inspector must be physically called out to approve and sign off on the work of the contractor, plumber or electrician.

Why should a seller care?

Once you make a deal with a buyer, they will go to the building department to do their due diligence. If there's an open permit (meaning the permit was applied for, but the contractor never had the inspector sign off on the work to close the permit) or, worse, if there's no record of your finished basement or newly renovated kitchen, they may not move ahead with the purchase. Often, sellers find that somewhere along the line someone made a mistake -- permits weren't closed out properly when you assumed they were. These errors could have been the fault of a contractor, the previous owner, or even the building department directly.

Additionally, a homeowner may assume that the bathroom renovated by their Uncle Bob 15 years ago was up to code, but it may turn out that it's not.

Both scenarios can pose a problem when selling. Once the home transfers, the new homeowner is on the hook for any illegal work, and no buyer wants to take on that liability.

What are assessor's records?

The town assessor keeps tabs on the local real estate market to be certain that the town's assessed value of your home (which affects property taxes) is in line with the market. When the market slows down, she won't proactively lower your assessed value, and most assessors regularly scrape the building department permits.

Why? Because if you've recently made a major improvement to your home, she will want to raise your assessed value, which means higher taxes.

It's also very possible that your home is over- or under-assessed. If it's the former, you want to attempt to grieve your assessment by providing the assessor some recent sale statistics and making sure that their records are accurate. Every municipality has a grieving process for homeowners.

Get ahead of any issues

Before listing, a seller should go to the town hall and check their property records. Most of the time, remedying issues like open permits or misinformation on a property is a quick fix. It's better to get ahead of it than to have to react to a buyer's concerns and jeopardize your deal.

If it's a bigger issue, it's better to hold off on listing your home for sale until you have resolved it. Getting your assessment down can impact your taxes, and that will be great news to your potential buyers.

Whether you are looking to buy a home in Taos or Angel Fire or sell your Angel Fire or Taos home call on Paula. We have two offices to serve you. In Angel Fire call (575) 377-2626 or in Taos call (575) 758-5852. There are many homes to choose from. We are members of the Taos Multiple Listing Service, so if you don't find the Taos property or property in Angel Fire that you are looking for on our site, you can access listings throughout The Enchanted Circle via the Taos MLS to view all Taos Real Estate and Angel Fire Real Estate listings. To speak directly to a broker call Paula at 575-770-3306. We are dedicated to making your dream a reality. Obtained from Zillow Porchlight

Planning to buy a home? Here's what you'll need to know. Mortgage rates have spiked 0.5 percent since the U.S. presidential election earlier this month. On a 30-year fixed loan of $300,000, this increases your monthly payment by $85. If you plan to buy a home, it's time to reevaluate your budget -- because rates are unlikely to drop. Let's review what happened, and where we go from here.

Why rates are rising

Rates rose after Donald Trump became president-elect because market participants believe his proposed policies -- infrastructure spending, tax cuts, and trade tariffs -- will be inflationary if enacted.

Rates are tied to bonds, because bonds pay a rate of return to investors each year. If policymaking fuels inflation, a bond investor's rate of return will be worth less in the future. Investors sell bonds on inflation fears, and rates rise when bond prices drop in a selloff. This is exactly what has happened.

Since the election, bond selling has led to the biggest bond losses in 26 years. Thirty-year mortgages have jumped into the low 4-percent range from the mid 3-percent range at record speed. This dramatic rate spike might level off near-term, but don't count on a reversal back to record lows. Where we might go from here

Rates could rise a bit more in the coming weeks, then the next catalyst will be Fed policy. The Fed has two main policy influences on rates.

First, they control an overnight bank-to-bank lending rate that serves as a benchmark for overall rate levels in the economy. In December 2015, they hiked this rate 0.25 percent after keeping it near zero since December 2008, when the financial crisis was at its worst.

There's almost 100% probability of a rate hike at the Feds December 14 policy meeting. If the Fed does hike, this will reinforce inflationary expectations, driving higher rates. Second, the Fed has helped to keep rates low since January 2009 by buying bonds that directly impact mortgage rates -- rates have dropped (or stayed low) on this Fed buying. Rising rates will hurt the Feds ability to buy enough bonds to continue holding rates down.

All of this means the Fed won't be as rate-friendly as we've become accustomed to since 2008. This is why it's very unlikely rates will drop from here, and may rise instead.

Nobody knows how much more until we get policy clarity from the first 100 days of a Trump administration, and the corresponding Fed reactions February1, March15, May3.

Implications for home buyers and owners

Below are some things you should be aware of as you evaluate your options in a rising rate environment. These predictions incorporate the latest available economic estimates (from November 16) from the Mortgage Bankers Association.

• Last call to refinance. Rates are still low historically, but if you've been waiting to refinance -- for a lower rate/payment or to take cash out of your home -- look at your options immediately, before rates rise further.

• HELOC rates will spike next. If you have a HELOC (home equity line of credit) second mortgage, it's tied to the Prime rate, which will rise in lock step with the Fed rate noted above. The Prime rate is expected to rise .25 percent in December, then rise steadily to be a full 1 percent higher than today by late 2017. Talk to your loan adviser about refinancing your HELOC into a fixed rate second mortgage so your rate can't rise.

• Homeowners, re-calculate your budget. If you've been pre-approved to buy a home, that pre-approval was done using a debt to income ratio, which will increase with rising rates. Ask your lender to refresh your pre-approval with current rates to see what your budget looks like, and to ensure you still qualify for your target home price.

• Home prices shouldn't spike. Rising rates may help keep home prices from rising too quickly. Median existing home prices are expected to go from $233,300 in 2016 to $244,100 in 2017, and median new home prices are expected to go from $305,900 to $311,500 in the same period.

• Healthy home-buying market in 2017. Total home purchase loans made will increase from $990 billion in 2016 to $1.1 trillion in 2017, while refinances will plummet from $901 billion in 2016 to $484 billion in 2017. Existing home sales will increase from 5.4 million in 2016 to 5.7 million in 2017, and new home sales will increase from 575,000 in 2016 to 649,000 in 2017.

Whether you are looking to buy or sell a home in Angel Fire or Taos, look to New Mexico Mountain Properties for all of your Real Estate needs. Our warm and inviting staff will help you get exactly what you are looking for, like our majestic mountain homes for sale in Angel Fire will give you the mountain setting you may want while our unique Taos homes for sale will let you get in touch with your creative side. Our Taos Ski Valley and Angel Fire condos for sale will put you right next to all the winter activities. If you're looking to build your own home, then our Angel Fire and Taos land for sale will give you the freedom to create your own dream home. If you are seeking to live totally off the grid, then look to our Taos Earthships for sale. Whatever you're looking for we can help you find it. Give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos or 575-770-3306 to speak directly to an agent. We are here to serve and welcome you to our spectacular area.

Information obtained from Zillow

Whether you're selling or planning to list your home for sale, there's probably a lot on your home sale to-do list. And while, yes, you want your house to look its best for prospective buyers, there are some less-than-obvious issues you should probably address before your listing goes up. From a leaky or aging roof to a positive radon test in the basement, here's the lowdown on some common issues that can cause a home sale to fall through. Roof

Roof issues are responsible for 39% of homeowners' insurance claims. If the roof of your for-sale home is approaching the end of its typical life span -- 20 to 25 years for shingles -- replacing it (or getting a certification that it's in great shape!) could get you to the closing table faster.

Gutters

While you may need to wait for inclement weather to realize your return on investment, a mere 30 minutes of rain gutter maintenance could prevent thousands of dollars in damage to the foundation of a home.

Doors and windows

Expect buyers to open and close doors and windows. A stuck window or creaky door is a quick fix for a seller but could be a red flag to buyers who want a well-cared-for home. Replacing windows can bring a 50% to 80% return on your investment, but if they're not stuck shut, some sellers would be better served to bump this down a few notches on their must-do list.

Appliances

Most buyers recognize that they can easily buy a new fridge, but if most of your appliances look as if they belong on That '70s Show, buyers may wonder what else needs replacing. Meanwhile, if you're planning to take your refrigerator with you when you move, make sure that's mentioned in your sellers' disclosure.

HVAC

A well-maintained system can last up to 25 years, but an aged one could be a point of concern for buyers -- and costly to repair or replace on the fly for a seller who doesn't want to lose a sale.

Foundation

Cracks in walls or a foundation are often a sign of larger problems. Be prepared to fix structural problems before your house hits the market, or have a plan in place for repairs if a buyer balks after an inspection.

Radon

Radon is a naturally occurring, carcinogenic, radioactive gas that's formed from the breakdown of uranium. It's found in rocks, soil, and water. To put in perspective just how dangerous radon can be, consider this: Smoking is the number one cause of lung cancer -- radon is number two.

Bonus: A too-high listing price

Pricing your home too high could ultimately cause your house to miss out on the right buyer, stay on the market longer, and bring in a lower price than the market supports. Determining the best asking price for a home is one of the most important aspects of selling a home.

Whether you are looking to buy or sell a home in Angel Fire or Taos, look to New Mexico Mountain Properties for all of your Real Estate needs. Our warm and inviting staff will help you get exactly what you are looking for, like our majestic mountain homes for sale in Angel Fire will give you the mountain setting you may want while our unique Taos homes for sale will let you get in touch with your creative side. Our Taos Ski Valley and Angel Fire condos for sale will put you right next to all the winter activities. If you're looking to build your own home, then our Angel Fire and Taos land for sale will give you the freedom to create your own dream home. If you are seeking to live totally off the grid, then look to our Taos Earthships for sale. Whatever you're looking for we can help you find it. Give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos or 575-770-3306 to speak directly to an agent. We are here to serve and welcome you to our spectacular area.

Information obtained from Trulia