Welcome To Albuquerque Homes Realty

For Buyers


Home Buying

Home and Land Investing

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Put Us To Work For You

How We Can Help You

Benefits Of Working With An e-PRO

Before You Start Looking

Closing Costs

Property Investments

NM Property Buyers Cost

What To Expect At Closing

Home Buyers Real Estate Tax Tips

Contact Us

Buying a New Mexico home is an exciting time in one's life. Making the smart move of choosing the very best REALTOR® is your first step to ensuring that your new home and community meets your needs. Our services and experience with Albuquerque Luxury Homes range from financial aid to helping you find the home that best suits you and your family.

For your convenience we offer a free search of the local MLS (Multiple  Listing Service). 

We provide a valuable service emailing all new listings fitting your specific wants and needs to your inbox when a home becomes active on the MLS.  This gives you the buyer the best opportunity to monitor the every changing real estate market and to compile a list of homes to go personally tour with your agent John McCormack.   

We pride ourselves on repeat business and referrals from our clients and friends. Please feel free to browse our testimonial page for an inside view of  what you can expect from Albuquerque Homes Realty and Team McCormack. 

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As Your Albuquerque Homes Realty Agent, We Will:

  • Listen to you! We want to understand and determine what you personally want and need in your dream home.
  • Conduct comprehensive searches for properties that fit your pre- determined criteria. We keep you informed of daily inventory as soon as it becomes available.  We will send this easy to read information directly to you via email and a "Listing Cart" service we provide you. This service alone gives you the competitive edge over other potential buyers of similar homes. 
  • Assure that you see all the properties in the area, price range and criteria guidelines. During the home tour process we hope to educate you about the neighborhood and surrounding communities.
  • Guide you through the entire home buying process, from getting pre-approved financing, home shopping and skilled negotiations. 
  • Make sure you don't pay too much for your new home and help you avoid costly mistakes. We conduct a market analysis of the home(s) you choose, this gives you the necessary knowledge to make an educated and accurate offer to purchase.

As An e-PRO, I Will Promptly Respond To Your Inquiries: 

An e-PRO is a Realtor who has successfully completed the complex e-PRO course for real estate professionals.  The National Board of Realtors endorses this detailed course which teaches technical and professional etiquette for working with real estate customers and clients on-line.  This includes web site service, email, on-line tools and up to the minute computer communications skills.  An e-PRO offers the latest detailed Internet utilities, making your life easier responding to your questions quickly but never sending you unwanted information. An e-PRO's skills saves you the buyer valuable time and money while keeping your NM real estate business private.

Albuquerque Homes Realty provides a valuable service emailing all new listings fitting your specific wants and needs to your inbox when a home becomes active on the MLS.  This gives you the buyer the best opportunity to monitor the every changing real estate market and to compile a list of homes to go personally tour with your agent John McCormack.

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Before You Start Looking For Your New Home:

  • Check your credit rating. Straighten out any errors before its too late. Your credit score can make a big difference in what you pay in interest. 
  • Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment.
  • Find a loan program that meets your needs and get pre-qualified (preferably pre-approved). When making an offer to purchase we always recommend a letter of pre-approval, and some sellers will not even consider an offer without it.
  • Choose a REALTOR® that you trust and who understands your needs. Choose Team McCormack of Albuquerque Homes Realty "Truly The Team That Cares".
  • Determine what neighborhood best matches your needs.
  • Identify important features you need would like your new home to have.
  • Have Team McCormack email you appropriate listings that you can view and evaluate. Once you have picked your favorites we will schedule your private showings.  Remember we can email you updates of all new listings as soon as they become available! 

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Buyers Closing Costs to Expect:
Closing costs and who pays those costs can vary substantially across the United States.  Know what to expect at your NM real estate closing. Although many closing costs are completely negotiable local customs and trends often determine the standards. Below is a very general concept of normal closing costs paid by the buyer on a conventional non-government type loan.  These figures are based on a median price range New Mexico home of $250,000.00.  The below example assumes a 20% down payment. Please note these are only estimates and examples; please contact us for a no obligation detailed analysis of your actual costs.

Origination Fee: ($2,300) Normally 1% of the loan amount collected by the lender to process the loan.This example is based on a 20% down payment or $50,000. 

Credit Report:($45-$75) Charged by your lending institution to obtain your current credit status and FICO scores.

Tax Service Fee: ($80) Often negotiated as the sellers closing costs.

Underwriting Fee: ($225) A fee collected by the lending institution to have the loan reviewed for final approval.

Loan Document Preparation Fee: ($200-$250) A fee collected by the lending institution to prepare all documents necessary to close escrow.

Hazard Insurance: Varies significantly depending on the price of the home, your provider, your history of claims etc. You will pay one year in advance and normally 2-3 months into your escrow account to to begin accumulation for the following year when insurance is due again.

Prepaid Property Taxes: Varies with tax values set by the assessors’ office. You will be expected to pay the pro-rated amount of taxes based on close date.

Private Mortgage Insurance: Varies with the lending institution. No PMI is collected in this example because of the 20% down payment, which avoids PMI.

Mortgagee Title Policy: ($80) Includes most Endorsements

Recording Fees: ($50+-) Collected to publicly record the mortgage, warranty deed and other public documentation.

Inspections: In New Mexico most standard home inspections are negotiated and paid by the seller, however additional inspections like radon, lead paint, mold etc may be negotiated to the buyer. 
 
Please Note: The above referenced closing fees are only estimates and can vary considerably depending on your individual loan situation, credit scores and cash down and final negotiations.  For a no obligation estimate of your specific closing costs please contact Albuquerque Homes Realty and Team McCormack.

 New Mexico Home Buyers Tax Tips and Links: 

 

How To Report Moving Expense

Home Owner Deduction Information 

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Home or Land Investments

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New Mexico Real Estate can be a great investment opportunity especially as the Albuquerque Homes and Rio Rancho Homes markets grown and appreciate.  Interest rates are at historical lows! 

Albuquerque Homes Realty has a long standing working history with local and out of state investors.  We recognize the special needs of investing including the often complex 1031 Exchange. 

We will listen to your specific needs then match you with the best possible resale homes,duplex to 4-plex, new home-builders, multi-family dwellings or land fitting those special needs.  Once we have established the parameters of your real estate goals we can then monitor the market and update you with all fresh inventory.  This keeps you better informed and better positioned to act on a viable property. John and Shirley McCormack will stay in direct communication with you each step of the way. Albuquerque Homes Realty strives to make all your business transactions seamless and productive. 

Albuquerque Homes Realty’s many years of repeat clients, investors and referrals has proven their experience and professionalism is key to your real estate success.  Albuquerque Homes Realty would love to be your real estate consultant for life! 

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Contact Albuquerque Homes Realty for a no obligation no hassle consultation.

 The information you provide will NEVER be sold or shared.  It is used solely to help us serve you best!

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John McCormack
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