Are Lower Home Prices On The Horizon?

A Look At How The NAR Lawsuit Might Impact The Real Estate Market

You've probably heard the headlines about the huge class-action lawsuit regarding Realtor commissions during home sales. A jury found that Realtors conspired to inflate commissions for home sales, and now the way Realtors are paid will have to be more transparent and no longer the seller's responsibility. Realtors are in a panic, worried that they're about to lose their income. The general public is excited because they think this will make homes more affordable.

While we don't know exactly how this will play out since everything is still so new, we expect real estate in New Mexico and the rest of the country to change as a result of…

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Renting Vs OwningThere are many people that believe that renting is easier than home ownership, or that owning a home will cost much more than renting.  There are many things to look at when deciding what is best for your family.  Here are some tips to help you make that decision: 

Tip One: Look at the overall cost vs. benefit argument.

It is true that renting can make more financial sense in the short run, but the long-range view is much different.  Over time your rent will rise, sometimes each year going up a little more.  If you purchase a home with a fixed-rate mortgage, your monthly payment of principle and interest will stay the same.  

Tip Two: Consider the power of leverage:

When you buy a home, you have the ability to magnify the purchase power of…

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