Albuquerque Real Estate Blog

Moving in Albuquerque

2012-02-02T08:53:00.000-07:00

Moving in Albuquerque? Check out this gorgeous warehouse storage facility, clean moving trucks and a great crew to help you all the way! Go to their site to check out their rates, boxes for sale, and book your move today for your Albuquerque move.

2012-01-18T08:05:00.003-07:00

A great article about some reasons why you may not be able to buy a home! Some of the reasons will surprise you! SURPRISING REASONS YOU CAN'T BUY A HOME! When you get ready to buy some Albuquerque real estate, call me! I'll be glad to help.

2012 Vacation Guide

2012-01-17T08:55:00.000-07:00

2012 Vacation Guide Enjoy this copy of our New Mexico vacation guide; and while you are here, if you need information on our great Pueblo style homes, homes with pools, or horse properties, just let me know!

Where to Move, Get a Job & Buy a Home in 2012

2012-01-10T14:11:00.001-07:00

Where to Move, Get a Job & Buy a Home in 2012 Albuquerque seen as a good opportunity to buy a home, get a job and have a place to be in the coming future....check it out today and find a great home search at www.RealEstateInABQ.com

Great new Albuquerque real estate listing!

2012-01-10T09:59:00.000-07:00

A great new property, listed in the Northeast area of Albuquerque - near La Cueva high school, it features the quality of Scott Patrick homes with city light views and updates you will love. Bamboo floors, gorgeous entryway, spacious kitchen. You will love this home!

9101 Palm Yucca NE

Real Estate

Market stats for Single Family Properties in ALBUQUERQUE, NM 87111

2011-11-05T16:48:00.000-07:00

Market stats for Single Family Properties in ALBUQUERQUE, NM 87111: Market stats for Single Family properties in ALBUQUERQUE, NM 87111 as of 07 Oct 2011 Median Price: $310,000 Mean Price: $423,365 Inventory: 263 Market Heat: 20.84 Days on Market: 167 Price per Square Foot: $132 Median Square Feet: 2,361 Median Lot Size: 8,712 Average Beds: 3.46 Average Baths: 2.44 Average Age: 23

Market stats for Condo Properties in ALBUQUERQUE, NM 87111

2011-11-05T16:47:00.000-07:00

Market stats for Condo Properties in ALBUQUERQUE, NM 87111: Market stats for Condo properties in ALBUQUERQUE, NM 87111 as of 07 Oct 2011 Median Price: $175,000 Mean Price: $182,141 Inventory: 85 Market Heat: 10.55 Days on Market: 163 Price per Square Foot: $119 Median Square Feet: 1,444 Median Lot Size: n/a Average Beds: 2.39 Average Baths: 1.98 Average Age: 21

Sometimes real estate is way too serious....

2011-09-30T07:31:00.000-07:00

So, in light of wanting to do something light - here is a great clip with some amazing homes on the market - enjoy!

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Have any interesting Albuquerque homes to share?

"Can I go see a few houses?" An Albuquerque Tale

2011-09-26T15:27:00.000-07:00

So you have come to Albuquerque and just want to see a few houses?

Ever wondered what it takes to get in to see a ‘few houses’? Seems easy enough, sellers have their house on the market, it should be accessible at a moments’ notice to qualified buyers, right?

Here’s a typical scenario:

House A, House B, House C, House D, House E

House A is shown by “lockbox call first” LBCF…buyer’s broker calls number and leaves a message that they will be showing the house at 2:00 pm (that’s what LBCF means, leave a message and then show)…

House B is shown by “appointment with listing broker, appointment with seller”. AWL, AWO Buyer’s broker calls listing broker and leaves a message “we would like to show the house at 2:45 after our 2:00 showing at the first property. Please confirm”

House C is shown “vacant lockbox”, VLB – this should be easy enough, that means it’s vacant and show anytime. But the private remarks to the broker say “please call listing office before showing”…okay, easy enough – “I’m going to show the house sometime during the afternoon.”

House D is another “lockbox call first” but also Pet Present….So, buyer’s broker calls and says “I’m going to show the house later in the afternoon, I understand there is a pet, no problem my buyers are animal lovers!”

Okay, wait for it, this is where the fun starts.

House A calls back and says “Oh, we can’t show it then, we have a luncheon and can only show it the day after…you’ll have to wait. (Geez, this was my buyers’ favorite property, and they are only in town one day, approval letter in hand) “No way around this, how about earlier, my buyers really wanted to see this house while they are in town”….”No”, responds the seller, “the next day only.”

Okay, wipe it off the list for now. Sent email to buyer to say “can’t see that one, sorry”. Buyer emails back…”well, disappointed, but let’s put another one in it’s place”. Okay, we can do that. We’ll call that property House F.

House C calls and says “you have to come at 2:00 because the gardeners will be there and the sellers don’t want any noise at the property during showings…sorry for the inconvenience”…Oh, no problem as we have wiped out the House A at 2:00…Okay, so House B goes into the 2:00 time slot.

Wait, we have to now call House F and set up that showing, and it’s another LBCF…so leave a message “we are going to be showing your property at around 2:30-3:00”.

House D then calls and says that we have to show at 6:00 pm because the pets will be there with the home groomers…they want us to go at 2:30…that’s going to be a hard call so we call back House F and change the showing time slot to more like 3:00 pm.

Now, you guessed it, House A calls back and says “We really want you to come at 2:00 because we think it’s a good idea for your clients to see this house since they are only in town for one day…”

House F stands ready to show anytime with no problem.

BACK to the drawing board and the calls begin again. I tell the buyer we are moving House A back into the 2:00 time slot, and we have to move House B to a 2:30 – 3:00 time slot..you guessed it – that isn’t a good time for them.

Eventually after hours of calls backs and changes of mind, I get 3 homes scheduled, as 2 didn’t make the cut of the time slot and my buyers simply said “if it’s so hard to get in to see this property, it doesn’t sound like they are really motivated to sell, does it?”

What have we learned here? Make it easy to show your house, anytime no matter what your schedule is. Selling your home can be an inconvenient process, but the more ‘sellable’ you make your home by making it easy to see, the quicker the desired outcome!

For more tips and ideas about how to sell or buy a home, and the insider's stories, Contact me anytime!

Forbes rates 3 New Mexico cities ‘best small places for business’ | Greater Albuquerque Association of REALTORS

2011-09-22T15:13:00.000-07:00

Forbes rates 3 New Mexico cities ‘best small places for business’ | Greater Albuquerque Association of REALTORS A great article about Business in New Mexico!

Don't tell!

2011-09-10T17:11:00.000-07:00

This blog today is directed towards my fellow Realtors® and to their and future clients....

I've been getting alot of calls lately, that go like this "Hi, I'm [mumble] with [mumble] Realty, and I'm calling on that house you have on {fill in the blank}....Is it vacant? What's the story? Are the owners usually home?"

Stop, look and listen! I had a sneaky feeling a few times that these weren't really brokers, they were someone wanting something other than good things for that house and my clients. What confirmed my feeling is when I would just simply tell them - "well, thanks so much for wanting to get more info, everything you need to know is in the MLS..." The long pause that followed was the giveaway. A few times the response was easily proven to be that of a legitimate broker with legitimate questions....the others were quite obviously not.

Yes, there are people out there who want bad things for your properties. In our Albuquerque market there are over 2700 members of the MLS. I can't keep up with every new licensee, so it's very often that when they give a name and company name, I have no idea who they are...and they might be for real, absolutely! They also might not be...and have gotten clever about how to case a house by pretending to be 'one of us.'

And for those of you who have your home for sale, remind your broker not to tell anyone if the property is vacant if they get the casual question...don't tell them what your circumstances are, why you are selling, or how often you are home...these are all questions that can be used in a bad way.

Let's be careful out there!

Happy selling...

Real Estate estate sales in Albuquerque

2011-08-23T14:33:00.000-07:00

One of the most complicated elements of real estate is when you have to sell a house that it is an estate, or when your loved ones are moving on to a retirement home. You are left with not only a home to sell, but you are also left with items left behind, repairs to do, and the unknowns in how to sell a home you have never lived in.

I have a great team of experts that can assist you throughout the process.

For the personal items left in the home, I have some great resources to offer. I have participated in auction sales of personal items, antique appraisals and smaller estate sales of personal items. My team of experts can help you no matter how large or small the project is.

Some precious items have been left to friends and relatives? I have a great mini-move service expert that can handle the smallest table to the largest piano and ship it anywhere in the country. If you need a climate controlled storage facility to store items until they find their new home, I have that, too.

I have a great list of handy man services and full service licensed contractors that can assist with repairs that may be needed in order to sell the home.

Finally, if you need a good resource for probate attorneys, I have worked with the best!

Let me handle your estate sale from beginning to end and make the process easier for your family.

Contact me anytime for a free evaluation of your estate sale.

"Can I just go see this house right now?"

2011-07-29T10:18:00.000-07:00

If you are an Albuquerque real estate professional, anywhere, you have received this call. "Hi, I want to see this house right now."

If you are a home buyer, or just a curious window shopper, you have probably made this call.

Here is why that call is just not the best way to go about shopping for a home.

1. Have you talked to a lender about getting financing?

I know, you don't think 'it's a problem', you know your financial situation like the back of your hand and you know you can get the money. In fact, you might have it all in cash, stashed away just waiting for the right house. But, if you can't provide your real estate professional that information, you may not get into the house! Many sellers today are requiring that their homes not be shown to anyone who can't substantiate that they have talked to a lender or provided enough information to establish themselves as real home buyers. This is a rather strange world we live in now, and security has become the main focus of our every day living. Why would a home seller want to open their doors to just anyone looking? If you have taken the time to talk to a lender, starting the process of preparing yourself to actually buy...the sellers have more confidence that they are showing their homes to someone who isn't casing the joint, looking on a Chamber of Commerce tour, or just kicking tires. It takes alot of time for a seller to get a house ready to show, leave the house for the showing, and then get back to the day's activities. Not to mention it is, first and foremost, their private property. It shows respect for the seller and the process to establish yourself as a qualified purchaser.

2. It's the seller's private property...it takes effort to prepare the house to show!

See number 1 above. I can't stress it enough.

3. Are you working with a broker already to see homes?

If you are making this call to my office because your broker is out of town, can't be reached, or is otherwise not available to show you homes themselves, then you need to have a talk with your own broker. There are ethics involved in meeting with another broker or agent's clients. Enough said.

4. What are your plans, really?

Who are you, what are your goals, what is your present situation? Why are you moving? It's really a better approach to find a broker first to frame the home buying process, rather than shooting a shotgun and see where it sticks. Come to our office, have a consultation about what your buying needs are, your plans, your wishes....otherwise, skepticism reigns supreme.

5. I want to buy from the listing broker, I'll save money.

Really? Probably not. Our listing contracts are confidential between us and the sellers. Only if we have an agreement in the listing contract that if we sell it ourselves the buyer reaps the benefits of a reduced commission will that happen. The winner is the listing broker.

6. I'm in town for a few days and really just want to see a few houses to see what they are like.

See Number 1. Ask for a drive-around self tour package; I do them all the time! It will send you through neighborhoods with printed information about each house for sale, or past sales, and you get to 'feel' the neighborhood for yourself. I promise you will get the information you need about the area, the neighborhoods and the city with a self-guided package. Email me today and I'll set one up for you.

Albuquerque MLS real estate search

2011-07-06T13:25:00.000-07:00

Here is a great place to find homes in the "High Desert" area of Albuquerque, New Mexico - NE Heights and foothills area search

The foothills of Albuquerque are very popular for their hiking trails, biking trails and the great views of the Sandia Mountains. A 'high desert' terrain offers very low maintenance landscaping with low water usage plants. If you like desert living, this is a great place to start.

Median report by Real Estate Board in New Mexico

2011-06-21T12:50:00.001-07:00

Report listing median prices as reported by each Realtor® board in New Mexico

Albuquerque Relocation Package

2011-06-10T16:18:00.000-07:00

Here's your new Albuquerque Relocation Package - we hope you find this a useful tool and contact us anytime for more information! You can find us here, anytime

REALTOR® Magazine-Daily News-Too Many Errors Found in Listing Information?

2011-06-10T09:27:00.000-07:00

Here's a great article on how you should choose carefully the websites that you use to find homes for sale on-line. I hear this every day, people using Realtor.com, Trulia, and other sites that may not have updated MLS feed.

On a site like mine, however, the provider that I use to gather the MLS data is updated at least once a day, so anything that sells is removed from the list, and new listings are shown immediately. When you register for a saved search, you can get immediate updates of any changes in the Albuquerque real estate market. REALTOR® Magazine-Daily News-Too Many Errors Found in Listing Information?

To work with a great team for your home search, call us today!

Mesa del Sol lands 50,000 s.f. data center | New Mexico Business Weekly

2011-06-09T17:43:00.001-07:00

Great industry coming to Mesa Del Sol community - good for jobs, good for the community. If you haven't checked out Mesa Del Sol, do so today - it's a great community for the future. If you need a great real estate team to help you pick out the best property for you, call us today! Mesa del Sol lands 50,000 s.f. data center | New Mexico Business Weekly

Albuquerque Real Estate Supply/Demand statistics

2011-06-09T14:54:00.000-07:00

Open publication - Free publishing

For more information on Albuquerque real estate, or if you need help with analyzing this data, feel free to contact us anytime.

Home showing feedback - what do you think?

2011-06-01T11:34:00.000-07:00

I've been asked by one of my clients to show one of your properties. You find out about the showing by either your client telling you, or you see it on the Supra update. That tool is a great resource for letting us track our showings and keeping us informed even when we have a vacant listing, isn't it? I remember when the lockboxes weren't as 'smart' and we had to run around every week to 'read' the keybox to see who had been there. With today's technology we can easily see who has shown our properties, time/date. Great for security and great for servicing our clients.

The next thing that I expect to find after the showing is a request for feedback. While I don't mind getting a phone call, sometimes it's not as effective as getting a detailed email request for feedback - the reason being I might be standing in line at the grocery store, waiting in my dentist's office, or with a client. Not very efficient for letting you know details of the showing. Plus - and an important PLUS - is that there is nothing to remind me of this property...like a picture or a description.....something to jog my juggled memory about which property this was.

For this reason I love, LOVE email feedback requests. The request should include a picture of the property - this way I can easily remember which property it was, and let you know what my client's response to the property was.

Why do I think feedback is important? Often I get the response 'hey we didn't make an offer, that's feedback enough isn't it?' No, not really. We are in the people AND property business. The properties don't speak to us, require consultations and don't care what we are doing when we aren't at the property. But the people do. People are the clients, and the clients have no idea what goes on in our crazy real estate world like we do. It's the people who get hustled out of their homes, getting ready for a showing, spend their time outside their homes while we are there showing, and then worrying and wondering what happened after we left. Don't you think they are going crazy wanting to know what goes on after we leave? What was that conversation that we had with our buyer clients as we pulled away from the house? What did they think?

I have an empathy for anyone selling their home. I have sold two of my own homes, and there is nothing that makes you understand what's it like to be a home seller more than being one yourself. Even with 16 years of experience as a Realtor®, it never softened my anxiety when I took on the role of 'home seller'. Waiting for the feedback, waiting for the offer or maybe not....what did the buyers think? Are they coming back? When am I moving! Help!

We are a cooperative business. A strange cooperative business, as we are also competitors, but we are a business that depends on cooperation. I love giving feedback....by phone is hard because I might not be able to remember which house it was, or be able to tell you about the experience in detail....by email is fabulous.

Give me feedback and I'll promise I'll give you some back.

Have a great selling season Albuquerque Brokers, and Happy Summer!

I really like getting your Albuquerque property flyers, I really do!

2011-05-26T11:56:00.000-07:00

This blog post goes out to all of my broker friends in Albuquerque, trying hard to sell their listings...after all if you aren't trying hard to sell your listings, then why stay in the business, right? Let me just say this officially - I DO NOT mind getting your property flyers emailed to me. I know you have heard a million times "I can find what I want on the MLS! **%(#()@! Don't bother me!" I disagree. Sometimes, I just can't. Why? Because the MLS is a great tool for telling me the basics...address, area, size, bedrooms and whether it has a pool. Oh, and yes it tells me how much your brokerage is offering to me to close the property with you with a qualified buyer.

The MLS, however, is lacking in being able to spell out alot of really nice information that might fit my buyer just perfectly, based on me putting in a somewhat broad search in the MLS and taking alot of time to read all of your remarks (as space allows)

Many years ago our brokerage was the first to come out with the ability to send out flyers of our properties via email. Being forward thinking, I created a database of email addresses of all of the Realtors® in our brokerage, and sent out an email flyer about a property that I had listed. It had some unique characteristics about the living space which I wanted to point out, but was impossible to do in the MLS in a searchable field. The result of that emailing was alot of cuss words about "don't spam me with your stuff, I can look in the MLS"...but the best result was a SALE of the property to someone who read the flyer, noticed the unique characteristics, showed it to his buyer...and what do you know, presented a purchase agreement! Wow, now this is cool, I said to myself.

I guess you could say I support any brokers' efforts to try to sell a listing....I will attend broker opens, I will go on broker tours as I can find the time...if someone asks me to check out a listing personally as a 'second eye' to see what they can do to get it sold - I am more than happy to do it! After all, we are by the nature of the MLS, in a cooperative business and need to be cooperative.

What do I do with the hundreds of emails that I get on a daily basis, including those emailed flyers for properties that I might not have a buyer for at the moment? I have a few choices...I can bookmark them because I like them, I can forward them to someone else because I've heard from another broker something that reminds me to send this to them, or I can do what is so easy, just hit the DELETE key and move on. Don't cuss, don't complain, don't try to take some big social stand against what we should be able to find in the MLS....

So, next time you have a property flyer going out via email - rest assured I am going to look at it! Seriously, I am....but to make it more effective, point out an amazing feature that I might not know about via the MLS search. Like this feature, for example, this property has an outdoor bathroom!

Albuquerque Real Estate Trends Market Statistics

2011-05-13T15:08:00.000-07:00

Albuquerque real estate market stats - these are some interesting stats from February 2010 to April 2011

Sandia Heights

Foothills area

North Albuquerque Acres

Academy West

Downtown area

Far Northeast Heights, Near Northeast Heights

North Valley areas

Four Hills

UNM Area

Paradise Hills

Ladera area

Uptown Area

Thank you for reviewing this information. When you need more information, please feel free to contact us anytime!

2011-04-27T18:30:00.001-07:00

Using FaceTime ... Really an interesting tool! How do you use it? - Posted using BlogPress from my iPhone

Location:Silver Peak Pl NE,Albuquerque,United States

Can we live together?

2011-04-27T11:12:00.000-07:00

That's the question I asked myself as I was moving towards getting an iPhone. Okay, so I have the iPad already, but didn't see the need for a new phone..moving closer to Apple products and still hanging on to my PC...can it be done? Does it make sense? I'm here to tell yes...it's possible and does it work for business? Yes, it does. I think I may have the perfect combination of work tools for my real estate business now. My toolbox is now packed with amazing hammers and drills to make your home sale or purchase easier and faster with less stress on you. And, besides, I love the iPhone and iPad for shopping, reading books and gathering recipes.

6 Dangers in Real Estate: Real Estate Safety: REALTOR Magazine

2011-04-11T12:59:00.001-07:00

6 Dangers in Real Estate: Real Estate Safety: REALTOR Magazine Have you ever wondered why being a prequalified buyer is so very important? Here's a great article about it through our looking glass. Safe practices makes for safe selling! Please consider this while you are trying to sell your home, or buy a home in the Albuquerque area.

61 Circle Drive, Albuquerque, New Mexico

2011-04-10T13:51:00.000-07:00

COMPLETELY OFF GRID! No more utility bills with all the conveniences of city living Fantastic property, completely off grid - no more PNM bills! Completely self contained, solar/propane generator, private well, septic - raised gardens, green house, sprinkler system; fully fenced, 1.8 acres - located minutes from Trader Joe's and Tramway area, simply amazing. Private and secluded! For your showing contact us today!

Great app site for iPad and iPhone users

2011-04-01T07:01:00.002-07:00

I haven't had much time or inspiration to blog lately about Albuquerque real estate or homes - idle hands/idle minds! Finally back to the market swing - but using my iPad for my real estate business has made me an iPad app stalker! I just found this great site to find great apps, with their rankings. Check it out!

Qualify to buy before you sell | Inman News

2011-01-04T12:36:00.000-07:00

Qualify to buy before you sell Inman News This story is bringing you absolutely great information! Don't go home shopping or selling before qualifying - failed processes result in failed expectations! When selling your Albuquerque home, be sure you have gone down each path, that you have looked at every possible outcome. Absolutely make sure of your total payoffs on your property, including liens, mortgages, credit lines, etc. What you gain from the sale of your present home will have everything to do with what new Albuquerque home you can buy.

Contact the eTeam today and talk to a professional.

Selling Albuquerque Real Estate.....

2010-12-06T18:43:00.000-07:00

is completely fun! Seriously, it is. There is such a variety of homes out there, and I see all of them from one 'end' to the other every week.

Albuquerque has a variety of styles! Adobe homes, Scottsdale style homes, brick homes, traditional 'ranch' style homes - it's just a kick to get out and tour these properties....

Gotta go for now - more photos and videos to come!

Oh, this is my favorite yard buddy....

Albuquerque Real Estate definitions - "Realtor®"

2010-10-06T09:55:00.000-07:00

Realtor® - a real estate broker or an associate who holds active membership in a local real estate board that is affiliated with the National Association of REALTORS®

Not all real estate agents or licensees are Realtors® - why does that make a difference? A real estate licensee that is not a Realtor® is not bound by the Code of Ethics which governs our interaction with the public and other Realtors®.

In order to be a member of the Southwest Multiple Listing Service, you have to have a Realtor® membership and be a member of the Great Albuquerque Association of Realtors®

So, not all individuals that hold a real estate license are Realtors® - for more information, please contact Linda DeVlieg's eTeam anytime! The team can keep you updated on all listings, market information and sales activity for all of the Albuquerque metropolitan area.

For your next Albuquerque home, contact the eTeam

Albuquerque Real Estate definitions - TITLE INSURANCE

2010-09-29T15:25:00.000-07:00

Title Insurance:

Insurance that protects the lender (lender's policy) or the buyer (owner's policy) against loss arising from disputes over ownership of the property.

In Albuquerque real estate transactions, it is a customary practice that the seller will pay for the owner's policy on the closing of their Albuquerque home. The interesting part is that Albuquerque home builders (as sellers) will pass this cost on to the buyer, thus causing the buyer to have to pay this cost again when they sell the house. Buyers of Albuquerque homes should be aware of this when they factor in the costs of purchasing a new construction home in Albuquerque.

For questions regarding title and the process - contact Fidelity Title

Have questions about real estate in Albuquerque? Come see/email/chat/ with us anytime!

Albuquerque Real Estate definitions - CLOSING COSTS

2010-09-22T10:48:00.000-07:00

We are often asked 'what are closing costs' when a buyer is purchasing a home and a seller is selling a home. These typical closing costs vary from market place to market place.

In Albuquerque, for example, customary closing costs for sellers are the title fees, and the buyers' closing costs are typically anything associated with their loan. The buyer may be asked to pay for the inspections and home warranty if these are desired.

"Expenses (over and above the price of the property) incurred by buyers and sellers in transferring ownership of a property. Closing costs normally include an origination fee, an attorney's fee, taxes, an amount placed in escrow, and charges for obtaining title insurance and a survey. Closing cost percentages will vary according to the area of the country; lenders or Realtors® often provide estimates of closing costs to prospective homebuyers and sellers."

In my co-authored book "Get the Best Deal When Selling Your Home, Albuquerque, New Mexico Edition" - I provide a comprehensive list of definitions and guidelines for selling your Albuquerque home.

You can contact me for a free copy anytime!

Linda DeVlieg, Associate Broker
Coldwell Banker Legacy
Albuquerque, New Mexico
505-440-7200

Albuquerque real estate definitions - The Acceleration Clause

2010-09-20T13:37:00.000-07:00

First in a series of articles regarding 'real estate words' that you might encounter in your search for an Albuquerque home or while selling your Albuquerque home.

Acceleration clause

A provision in a mortgage that gives the lender the right to demand payment of the entire principal balance if a monthly payment is missed, or if a provision of the mortgage is violated.

You may run across this term during the course of a Real Estate Contract (or in common terms Seller Financing). If you are buying a home with a NM Real Estate Contract and someone talks about the 'acceleration clause' be aware of the practical applications of this term. If the home you are purchasing (or selling) has an existing mortgage on it, most likely the mortgage document has an 'acceleration clause' contained in the document which prevents you from transferring ownership of the property without paying off the existing loan. If you buy a home with a NM Real Estate Contract, you may be asked to 'wrap' the existing mortgage, and file a Special Warranty Deed, thus transferring ownership of the property. If the existing mortgage holder discovers this, and this is a violation of the terms of the mortgage, they may impose the Acceleration Clause and you and/or the seller may be forced to pay the entire principle balance or face foreclosure of the property.

Before considering a New Mexico Real Estate Contract or Owner Financing for the purchase or sale of a home, be sure and contact a real estate attorney for advice on how to proceed.

For more tips and advice, please feel free to contact Linda DeVlieg's eTeam Real Estate Group anytime.

Stay tuned for regular updates and more definitions that help you in your Albuquerque Real Estate experience

#8 Albuquerque Home Staging Article - THE IMPORTANCE OF HIRING A PROFESSIONAL

2010-09-14T06:22:00.000-07:00

#8 in a Series of 8 Articles - THE IMPORTANCE OF HIRING A PROFESSIONAL

Why hire a professional designer - to avoid costly and time consuming mistakes, for one. Secondly, to save on your time – a professional knows where to go and who to talk with. Your time is valuable and a designer can save you time, money and headaches, especially when it comes to knowing where to go. Thirdly, to obtain the desired result/outcome of the project. Many people think that watching HGTV gives them liberty to do everything themselves. This is a mistake. When you do not really know what you are doing – only think you do – that is the result a potential buyer sees, a “do it yourself job”. Not the result you should be going for.

In this economy, time is money and selling a house takes time – why waste it. Hire a professional – if only for a few hours. Perhaps you need help with picking out a new paint color, ideas on staging your home, what to take & what to keep, etc. The point is to sell your home as quickly as possible – this is not the time to be frugal. The term “spend money to make money” applies here more than you may realize. If you need to spend $20,000 to fix up your home to sell it, then do so if you are able to. You can increase the price of your home by $30,000 - $50,000 with these improvements and then the house can be listed in a higher category bringing in a new range of potential buyers. I know for a fact this works – I’ve done just that for clients. Good luck and stay positive!

If you need a professional in the Albuquerque area, please give me a call. Karla McWhorter Interior Styling by Karla Ph: 275-6819 & Cell: 228-3489

And for help selling your home once it's perfectly staged, please call Linda at the eTeam Real Estate Group. I'm here to help with ideas, a complimentary market analysis and research tools to help you get started!

A bad day fishing....

2010-09-13T07:42:00.002-07:00

Is always better than a great day at work. Don't forget to relax and enjoy your day.

#7 in a Series of 8 Articles – LANDSCAPING your Albuquerque home

2010-08-30T09:57:00.000-07:00

Look at landscaping as the “Cherry on the Sundae” – you need potential buyers to want to stop and look at the house. Curb appeal is very important – I can’t stress this enough! If the landscaping is lacking the general overall impression is so is the rest of the house – not good. Remember, Xeriscaping does not mean rock and only rock. Here in the Southwest, water is a very important commodity and today’s savvy home buyers are keeping this in mind.

The backyard is just as important – it needs to be manicured and if possible, staged as an extra entertainment area. Even small patios can be used as an extension of the home almost year around in Albuquerque. Create an atmosphere that not only is inviting and welcoming to the buyer, but helps them envision the possibilities of entertaining in your home.

_________________________________________________________________________

For more great information about staging and presenting your Albuquerque home to your next buyer, please contact Karla - she's just a great asset to your Albuquerque home sale!

More contact information for Karla:

Karla McWhorter

Interior Styling by Karla

Ph: 275-6819 & Cell: 228-3489

REALTOR® Magazine-Daily News-Three Reasons to Buy a Home Now

2010-08-19T12:39:00.000-07:00

REALTOR® Magazine-Daily News-Three Reasons to Buy a Home Now A great article about why now is the perfect time to buy your Albuquerque Home

Market Statistics for Albuquerque Real Estate - AREAS showing an increase in price

2010-08-16T16:34:00.000-07:00

Chart 1: Month over Month increases in Median Sale Price

Summary of Chart 1: This chart shows the 10 MLS areas that saw the greatest increase in the median sale prices from the previous year. With 42 Areas reporting 2 or more sales, 19 saw price increases and 23 Areas saw price reductions. Interesting to note is the fact that four of the areas had decreases in the number of home sales yet still had increases in the sale price.

Chart 2: QTR over QTR increases in Median Sale Price

Summary of Chart 2: This chart shows the 10 MLS areas that saw the greatest increase in the median sale prices from the previous quarter. With 44 Areas reporting 5 or more sales, 17 saw price increases and 27 saw price reductions.

Chart 3: Year over Year increases in Median Sale Price

Summary of Chart 3: This chart shows the 10 MLS areas that saw the greatest increase in the median sale prices from the previous Year-to-Date sales. With 46 areas reporting 5 or more sales, 17 saw price increases while 28 Areas saw price reductions (1 Area had no change in median sale price).

The sale price of homes is a widely publicized market statistic. When a real estate market sees increases in the overall sale price it may be an indication that the market is improving or that homes are regaining value they had during peak sale years. Since 2006 the Greater Albuquerque Market areas have seen the median monthly sale price of single-family homes rise to $205,000 (May 2008) and dip as low as $169,950 (February 2010). As of June 2010 our monthly market reports shows that single-family, detached homes have a median sale price of $181,000, the highest monthly median value since August 2009.

For all three charts presented in this article the data shows that at least 17 individual MLS areas are seeing increases in the median sale price when compared to the previous year. The areas showing the increases are not in a specific location and appear to be spread across different parts of the Greater Albuquerque Market Areas. All of the counties that are serviced by SWMLS (Valencia, Sandoval, Bernalillo and Torrance) included an Area that was in the 10 top list for increases in median sale price.

Source: Southwest MLS, Inc. Information deemed reliable not guaranteed.

For more information about Albuquerque Real Estate, contact the eTeam

#6 in a Series of 8 Articles - WHICH ROOMS TO UPDATE &/or REMODEL & WHY

2010-08-10T08:10:00.000-07:00

Here are some more great tips for Selling your Albuquerque Home - staging is so important that I have asked my friend Karla to give us these great tips - be sure and contact her for more information about how her services can help you sell your own home!

The “Biggest Bang” for your money continues to be updating &/or remodeling your Kitchen. This is not only a good investment, but also a powerful tool to help sell a home. Even in this market a homeowner should be able to recapture their investment. Bathroom remodels/updates are also important – especially the MBR Bathroom. Everyone wants a luxurious bathroom – make it an inspiring selling point with dual sinks, contemporary plbg. and light fixtures, new flooring, noteworthy countertops, etc.

Powder Rooms are a superb opportunity to make striking statements – think of them as little jewel boxes. This is where you can get very creative with unusual wall treatments, artwork, one of a kind sinks and so forth. A Powder Room should be intimate and inviting at the same time. The point is to make a lasting impact on the potential buyer!

Karla McWhorter

Interior Styling by Karla

Ph: 275-6819 & Cell: 228-3489

For great information about real estate in Albuquerque, staging your home or other helpful hints for sellers...just contact us today!

Albuquerque Real Estate FAQ's - "Why do you always ask if I already have a Realtor®?"

2010-08-04T09:01:00.000-07:00

You are surfing the web, or driving by your favorite neighborhood and there you see it, a house you want to know about! It's so exciting to see the opportunities!

So, you pick up the phone or email the broker and ask about the property. You might even click on the link that says "request a showing".

When the Realtor® responds, one of the questions they are going to ask you is "Are you working with a broker?" Why do we ask this question? Can't we just show you the house?

Many times the home you have called on is not our personal listing. If you see it on the Internet, you might be seeing it via our IDX feed, which is a service we provide to show you all of the listings in MLS on the websites. If you call on a sign, it might not be the listing broker that is taking the call personally - it might be someone in the company who is on duty to take inquiries on properties. Only a licensed real estate professional can answer questions about a property, so offices will have licensed brokers on duty just for these types of inquiries.

If you call and speak directly to the listing broker, he/she might also ask you the same question - "are you working with a broker?"

Let me try and paint you a picture of why this question is asked.

The client/customer/broker relationship is a very important one. Once you have started the relationship (whether formal or informal) with a real estate professional, you have also told them personal and confidential things about yourself and your situation. You have shared what you are looking for, and probably also told them why you are buying or selling a property.   They have confidential information about you and your unique situation that should not be shared with anyone else.

Also, that broker has started the process of setting up your file and creating a client profile in their system. The broker you have spoken to and started this process with is doing work behind the scenes already to find you a great property.   This real estate professional has already 'gone to work' for you.

In last week's Blog I spoke to the process of setting up a showing for a home. It's really not just getting in the car, running over and opening the door. When you call so see a property, everyone in the process takes the event quite seriously. There are qualifying events that need to take place, including preparation of paperwork and research.  A great real estate professional will prepare information about the property and gather neighborhood information for that meeting. If the property is occupied, the seller is preparing the home and their day for your arrival.

The other thing to remember with this relationship is our Realtor® Code of Ethics. In this code we are held to a standard, one of which is to not tread on another Realtor®'s client relationships. It is very unethical to 'steal' another Realtor's client. It would also be unethical to use information that is learned about another Realtor®'s client.   We want to make sure that we are not speaking to another Realtor's client and creating a new relationship.

We will sometimes get calls from customers saying 'my Realtor® is out of town but I need to see this property right away'. We understand your enthusiasm, but if you are working with a great professional, that real estate professional will have plans in place to cover their business should they not be available. I think you can see why from the above information that this be an essential part of the real estate team you decide to work with.

Confidentiality, ethics, time value - these are all very important elements of the real estate process.

If you have a relationship with a Realtor®, value this relationship.    We value you!

Green Car Dealer in New Mexico!

2010-07-29T16:26:00.000-07:00

Want to find a Green home for your new Green car?

#5 in a Series of 8 Articles - ACCENT PAINT COLORS (Yes/No & Placement)

2010-07-28T15:11:00.000-07:00

A most definite YES!! Adding a “Pop of Color” with an Accent wall painted sporadically through-out a home (using one or two accent colors) can not only have an impact, but can create architectural interest - in addition to effecting one's moods, emotions, blood pressure, etc. Even to the point of producing physical sensations such as joy, calmness, a feeling of luxury and romance - just to mention a few. With proper placement, an accent &/or contrasting color(s) within an interior space can enhance the atmosphere and make a space appear larger and more interesting to the visitor.

An interior with accent shades of color will captivate a possible buyer’s imagination to visualize themselves within the home - thus creating a feeling of “I’m home” or “this is it!”

Karla McWhorter

Interior Styling by Karla

Ph: 275-6819 & Cell: 228-3489

Albuquerque Real Estate FAQ's - Why do you always ask if I am prequalified?

2010-07-26T09:40:00.000-07:00

Today I'm starting our Albuquerque Real Estate FAQ's....a series of simple answers to often asked and seldom answered-in-plain-English questions about real estate.

"Why do you always ask if I'm prequalified?"

Let's see, you call on a property and ask to see a home that you find on the Internet, or drive by - and the broker will ask you "are you prequalified"? While it probably feels like an invasion of your privacy or too picky-uney - here's why you are being asked:

When we, as real estate professionals, list a property, very often one of the items that we go over with the seller is that we are making sure that the security of the property is on the top of our priority list...we make sure that the alarm codes are kept private, and that the home will be secured after a showing. During these discussions a seller will almost always ask "can you make sure that the buyers are prequalified, and not just lookie loos"? It takes quite a bit of effort for a seller to get ready for a home showing. A seller must rearrange their day, do double duty on the staging of their home and have to be gone from their property while the showing is taking place. The sellers want to make sure that the buyer looking at their home isn't just curious about the decorating, or doesn't really have the ability to buy the property if they fall in love with it.

"But I've looked on-line and the on-line form says I can afford it"

These on-line mortgage forms, they are so easy! You fill them out and all they are asking for is income, debts, and voila....it spits out a purchase price and interest rate....but that's only one layer of the prequalification process. Things such as business settlements, divorce settlements, tax filings, etc - can all affect how your mortgage process is really going to behave once you put it into play. We have seen very high income buyers not be able to get a mortgage because of student loans, divorce settlements, or a particular business structure that affects their loan ratios. We have also had first time buyers find out they can actually afford their dream home based on their financial condition. In today's mortgage climate, even more of these individual financial elements will come into play. Nothing is worse than falling in love with a property, only to find out that it's way beyond your loan ability, or to underestimate your buying ability only to find out your dream home is just around the corner.

Wait! The only thing worse than that is writing the offer, planning your closing and finding out that you can't qualify. That's worse!

"We don't want to start that part of the process, we just want to start looking"

See the two reasons above.

Please understand, we aren't trying to kill your enthusiasm, but the process of prequalification is so easy with a good, local, qualified mortgage professional that there is no reason not to have this part out of the way before you start actually looking at homes.

"I'll get prequalified when I find the right house"

There may not be time. We see this happen...all the time. You find the perfect house, you then start the prequalification process...by the time you get your letter in order to have a powerful offer - the home sells to someone else. Why? Sellers will usually require that a prequalification or full approval letter accompany an offer. Why? You have indicated you want their home, but you haven't proven you can actually pay for it. The next buyer has proven they can pay for it and so the seller will most likely take the offer that comes as a complete package. This home buying process is a business transaction, the better the package, the better the negotiations.

Next in our series - "Why do you always ask if I'm working with a Broker?"

#4 in a Series of 8 Articles - THE IMPORTANCE OF PAINTING THE INTERIOR

2010-07-13T06:06:00.000-07:00

Does a fresh coat of paint really make a difference when selling a home? Absolutely! It can hide a multitude of issues, as well as help make the home look and feel new. It is important that you use the correct type of paint - a flat finish thru-out the home and an enamel in the bathrooms &/or the kitchen only when a gas stove is present.

The current trend is to paint the ceiling the same color as the walls. Trim and doors should be a contrasting color – bone/off-white, beige, stained, etc. This allows the architectural trim to be more prominent and dress up the room. Paint is one of the most cost-effective ways to immediately improve the overall impression of a home. After all, isn’t that what you are going for – a good impression?

Karla McWhorter

Interior Styling by Karla

Ph: 275-6819 & Cell: 228-3489

Closing in the car!

2010-07-08T12:53:00.000-07:00

Had another great experience with technology in my business yesterday. Coming back from the holiday...one of our closings had been delayed and suddenly happened while we were driving home.

The title company emailed me saying docs were ready and the buyer would be in to sign. My client, one in Arizona and one in Poland, were to review everything prior to closing. Title emailed everyone the closing statement....I reviewed and found a change, then my seller in Poland emailed to ask questions..same from client in Arizona and all the while I'm riding home and reviewing everything via iPad. The sellers had also been signing the contracts via Docusign so the entire process had been so easy and fast. No delays.

By the time I arrived to lunch in Santa Fe the buyers were on their way to closing and by the time I got home to Albuquerque the buyers were getting the keys!

No delays and no fuss....what a great time to practice real estate sales!

But I need to find a rental in Albuquerque!

2010-07-01T10:21:00.000-07:00

Have you had a hard time finding a rental through the MLS? A hard time finding a real estate broker who works in traditional sales to help you find a rental?

Don't feel alone. Everyone does. In case nobody has taken the time to tell you why, here goes -

In many areas of the country, there is a centralized database - either in the MLS or a similar product - which allows showing and cooperation between brokers and brokerages to show and lease out properties. This is a system very much like the use of the MLS for selling properties. This system establishes the inventory, and offers it with compensation to other brokers to show and lease the properties for their clients.

In Albuquerque there isn't any such product. Real estate brokerages that specialize in sales live in a separate world than property management companies. The property management companies will show and lease their own inventory. There is no centralized database to find all the rentals that are available, thus the best approach is to simply call all of the leasing agents that you can and see what they have in their inventory.

Before you do decide to rent for your Albuquerque relocation, make sure you have studied the standard lease agreements in the area you are searching in. What we find most often is that 6 month leases are difficult to obtain, anything shorter is nearly impossible, and the standard menu seems to be a 12 month lease. If you plan on buying a home while you are renting, make sure you know the penalties for breaking your lease before you sign on the dotted line.

What many of our customers have found useful are the short term executive suites that are available - and we are glad to share that with you anytime you ask. Just email us for a list of the opportunities.

Also, be sure that renting is really what you want to do - analyze your rent/buy options to see what your financial picture paints before you fill in the blanks on a lease agreement.

#3 in a Series of 8 Articles - ROOMS THAT NEED TO BE STAGED

2010-06-28T15:57:00.007-07:00

More tips and ideas about staging your Albuquerque home for sale

Do you know which rooms are important to stage when putting a house on the market and why?

• Living Room/Great Room (LR)

• Dining Room (DR)

• Master Bedroom (MBR)

• Bathrooms

• Kitchen

It is important to make a house look more like a Home. You want to produce a warm & welcoming effect on the visitors, encouraging them to linger. The longer the prospective visitors are in the Home – the better the chances are of making a positive & lasting impression. Staging a home will help the potential buyers to visualize their furniture & furnishing within the house. When staged correctly, it can also be used as a tool to help make a room appear larger than it actually is – this is especially important when it comes to the Master Bedroom, and living areas.

For more information about staging, contact Interior Styling by Karla today!

If you would like a free copy of my book for Sellers - please fill out this form and I will send you a copy in the mail!

Do you think there is life after a short sale? Think again

2010-06-24T07:07:00.000-07:00

I was reading an article this weekend about how short sale sellers aren't exactly off the hook to go on with the rest of their lives after they and their broker have 'negotiated' a short sale.

A recent Washington Post article talks to this point, that homeowners who refinanced their homes and then subsequently negotiate a short sale are not protected from deficiency judgements brought by the banks. Even after you have negotiated the short sale, the banks can come back to you and require that you pay back the forgiven amounts.

I'm the first one to admit I have stayed away from this part of the market. I could {and probably will} write another blog piece about how I think even the term "short sale" isn't exactly what we should be calling these types of sales....but I digress....but the entire process just seems ripe for these types of uncertainties.

Why has this happened? In years past, when a 'short sale' was just a term we used when the seller was going to have to bring money to the closing table to close on their property, banks were more forgiving and the cost of recouping their losses didn't justify their costs of pursuing the funds from the seller. But in today's environment, the banks are experiencing huge losses, and they are reaching out to the first one in line to recoup those losses - the sellers of the properties. Often the sellers go away from the short sales thinking that their lives are back to their new normal, and start their lives again. If that includes building a new portfolio the banks are watching and may pursue your new assets as their opportunity to recover some of their losses. From the bank's point of view, it only makes sense. To the seller, it's a very unwelcome surprise.

So for sellers, please make sure you read all of the conditions of the approval, be sure to read all of the fine print.

For those brokers who have always thought it was in the best interest of everyone to be the one to lower their compensation for the 'deal to go through' (banks don't ask the title companies or anyone else, but we have made it easy on them by thinking we aren't worth our paychecks) I wonder if they are going to be compensated when the banks go back to the seller and recover their deficiencies? Ah, well - again, I digress and I see another blog post coming!

Why the virtual office?

2010-06-16T07:30:00.000-07:00

Interesting discussion going on today on the social networking sites about "virtual offices". I have run a virtual office for years, finding that being in the office doesn't mean I'm in my business. Lots of distractions and lines at the copy machine made it inefficient for me to get anything done.

I can accomplish more for my clients by being virtual than by having a physical office. The time it takes just to get to the office, set up materials and deal with office details is time that I could be dealing with 2-3 items and getting them cleared up! Reports, offers, paper things - oh those paper things! With Internet faxing we don't need fax machines anymore. With email we hardly need faxes anymore. With file sharing we hardly need email anymore....

The amount of work that I and my team can accomplish in a day just by being virtual is virtually impressive!

Oh, and my assistants - they are virtual, too.

Transactions can now be processed so quickly that by the time a client has gotten back into their car to catch a plane, their offer has already been submitted and {hopefully} signed and accepted by the seller without us having left the computer. With the use of Docusign and on-line client file platforms, the process has been streamlined.

Oh, and I'm thinking that the earnest money part can't be virtual...but actually it can be with a wire transfer...

There are so many aspects to business, and not only the real estate business, that can be virtual that perhaps the day of the physical office is going to be a thing of the past.

It's better to buy than rent an Albuquerque home!

2010-06-15T07:06:00.000-07:00

This morning Trulia published their rent/buy analysis for various cities. Albuquerque placed with a rating of "14". The Price to Rent Ratio interpretation is this:

If a city receives a score of anything from 1-15, it is much less expensive to own than to rent a home in this city. The factors used to calculate this score are the mortgage (principle and interest), property taxes, hazard insurance, closing costs and ongoing Home Owner Association Dues and private mortgage insurance where applied. The calculations are used to include an offset for the tax advantages of home ownership, including mortgage interest, property tax and closing cost deductions.

The total cost of renting is calculated to use rent plus renter's insurance.

Also, in Albuquerque it is pretty difficult to find a short term rental, 6 months or less - and if you choose to rent you stand of chance of 'missing the market'. I have lived in Albuquerque since 1979 and I have seen many changes in market conditions and economic development. Albuquerque's market tide can change quite quickly, leaving you with higher interest rates or less inventory to choose from when you get ready to buy if you postpone the process by renting.

For the full report, click here!

There are opportunities for short term executive rentals that many of our clients have found very useful, and if you would like a list of those properties please contact the eTeam anytime, we would be glad to help.

#2 in a Series of 8 Articles – AN INVITING ENTRY for your Albuquerque home

2010-06-14T10:25:00.000-07:00

What is the “Functionality” of an Entry and/or Foyer? This is where you are able to set the tone for the rest of the home and create some impact on the first-time visitor. Intensify this impression by adding some extra pizzazz and drama to this part of your Albuquerque home to generate extra interest. Using mirrors, artwork, tables and rugs are not only functional, but they also provide your guest with an appealing introduction that will impart a lingering effect when entering and leaving the home.

When possible have a table in the entry where Realtors can leave their business cards for you and your Listing Realtor to review at a later date. Remember, first impressions are everything!

For more information about how to get your property staged, or for a consultation, please contact:

Karla McWhorter

Interior Styling by Karla
Ph: 275-6819 Cell: 228-3489
http://www.interiorstylingbykarla.com/

New Supply/Demand reports for Albuquerque real estate

2010-06-08T14:00:00.000-07:00

New Supply/Demand reports for Albuquerque real estate - for May 2010 - for more information, please feel free to contact the eTeam!

Amazing Featured Property in Brazos, New Mexico

2010-06-06T17:40:00.001-07:00

Amazing property located in the Brazos, New Mexico - 20 acres of privacy overlooking the Brazos River...decks with river views and steps away from great trout fishing!

20 ACRE ESTATE IN THE BRAZOS

New service for the eTeam Real Estate Group

2010-06-06T17:31:00.000-07:00

Now, search for Santa Fe and Northern New Mexico MLS with one easy site - learn what the buzz is all about in the wonderful area of Northern New Mexico!

SEARCH SANTA FE AND NORTHERN NEW MEXICO MLS

Staging Tips to Help Sell Your Home

2010-06-03T10:33:00.000-07:00

This will be a series of helpful hints for staging, brought to you by my favorite local designer - "Interior Styling by Karla"

“STAGING TIPS TO HELP SELL YOUR HOME”
8 Part Series

Article #1 – “Curb Appeal”

Driving by a potential Buyer may say to themselves “Hmm… do I want to stop – do I want to look at this house.” The house needs to be as inviting and welcoming from the outside as it is from the inside. It is very important that people want to stop and look at the house, because if there is no curb appeal - there is no reason to stop and look. Your yards are just as important as the inside of the home is. Their interests need to be perked. Remember – you never get a 2nd chance to make a notable 1st impression! This applies to curb appeal more than ever.

Karla McWhorter
Interior Styling by Karla
Ph: 275-6819 Cell: 228-3489
http://www.interiorstylingbykarla.com/

Albuquerque: The Unknown

2010-05-19T09:15:00.000-07:00

What's it like to live in Albuquerque? Let this video tell you in real words!

Albuquerque: The Unknown from Puzzled Pictures on Vimeo.

And, when you get ready to move here...just let me know....my team will be glad to help you.

Contact me today

Tax Lightening in High Desert/Paako? Really?

2010-05-11T09:05:00.000-07:00

I have to say that the media has it wrong again. While some property owners in the High Desert and Paako areas might have seen an incorrect assessment on their properties, it's not a wide-sweeping all encompassing increase as the media has reported.

First hand experience, my assessment hasn't increased. First hand knowledge, I looked at my Notice of Value. No issues here.

While I don't argue that some homeowners have been incorrectly assessed because of inflated pricing and sales from a few years back, or 'guesstimates' again by the assessor office (living in a limited disclosure state does have its drawbacks).....not every single home has been increased to the extent that it should be front page news.

But, what's news without a little shouting?

So far the sales statistics being reported aren't widely accurate, even the ones coming from our own trade association...and all that you read in the headlines isn't the real deal...

Get some real stats on your own, study your tax bill if you live in these areas.

Happy spring!

April Jobs Report - impact on our economy

2010-05-10T06:00:00.000-07:00

We received some very positive economic news this morning with the April Jobs report. There were approximately 290,000 new jobs created in April. This was the biggest rise in jobs since March, 2006. There were 66,000 census workers included in the 290,000 jobs creation number for April. However, since December there have been 573,000 new non-farm payroll jobs created. The biggest jobs gains have come over the last two months. The unemployment rate is still being reported at approximately 9.9%.

The April jobs report is another sign that our economy is starting to improve. As the economy continues to improve and consumer confidence increases we will see increases in home prices and home buying activity. The Albuquerque real estate market and local economy are starting to improve as well.

The mortgage market, guidelines and regulations are changing everyday. There has never been a more important time than now to work with an experienced, proven mortgage company.

To Your Success,

Scott Cummings, CMPS

President / CEO

Cummings Financial

505.884.8600 office

505-263-7706

scott@cummingsfinancial.net

For more information about home sales, home purchases and FAQ's regarding real estate, contact the eTeam Real Estate Group anytime!

This 3 bedroom 2 bathroom Single Family located at 99 Golf Course Road, Mountainair, New Mexico is presented by Linda DeVlieg ABR, ePro, Cyberstar, CRS, Ecobroker® of Coldwell Banker Legacy.

2010-05-06T06:41:00.000-07:00

This 3 bedroom 2 bathroom Single Family located at 99 Golf Course Road, Mountainair, New Mexico is presented by Linda DeVlieg ABR, ePro, Cyberstar, CRS, Ecobroker® of Coldwell Banker Legacy. Listed at a 'new' price, you will love this desert escape - on 40 acres near the lovely community of Moutainair, New Mexico. Contact us anytime for more information! www.RealEstateInABQ.com

What now after the tax incentive?

2010-05-01T14:20:00.000-07:00

I've seen alot of media coverage this week regarding the deadline for the tax credit for buyers, and whether it made things 'busier' than usual.

This I can only address from my personal team experience - we are busier for clients coming AFTER the deadline has passed than during the tax credit bonus program.

We have more people, in higher price ranges, scheduled to see homes next week (and they are prequalified and ready to buy right away) than we did in the last couple of months.

Of the clients we have served over the last couple of months, only a small percentage of those clients referenced the tax credit deadline as a crunch time and a reason for buying. It did not feel to us like that was the primary incentive for them to buy a home.

What I am noticing during my twice daily checks of the market is that the higher end areas are selling right now, and of those homes that are selling - most have had substantial to moderate price reductions. The sellers have been getting more competitive in the market pricing strategies to get their homes sold, resulting in more pending sales in that price range from 500K and up.

Another interesting this is that I have had more sign/web calls on properties that have been on the market, gone pending - only to have the phone ring with someone inquiring "what happened to that house, I've been watching it for months and now it's not on your website anymore!" Yes, it finally sold! I believe that buyers are going to experience more disappointments by not moving ahead on properties that they really like - thinking that they can 'wait things out'...only to find their dream home being secured by another buyer contract.

These are all good 'experience' signs for the market that buyers and sellers might be showing us activity that proves to be healthy for our housing market.

Cheers to all!

Unchanged interest rates - good news in Albuquerque real estate

2010-04-28T16:18:00.000-07:00

The Federal Reserve issued their monetary policy at 12:15 mountain time today. The Federal Reserve left the Fed Funds rates unchanged at a near zero interest rate. The Fed stated that "the economy continues to improve at a modest pace." The positive comments on the economy have caused a rally in the stock market.

Unfortunately, mortgage rates typically increase on positive economic news as money flows out of safe havens like the bond market. Therefore, in an attempt to make bonds and mortgage backed securities more appealing to investors the yields are increased. This ultimately affects mortgage rates that consumers pay for their home loans. The good news is that mortgage rates remanin at near record levels.

This is great news for anyone who is considering purchasing a home. We are entering into the busiest season of the year for home buying and selling. The near record low mortgage rates should encourage people to move forward with their home buying decisions.

p.s. I hope you will call on Lisa or I if you have any real estate mortgage needs. We appreciate your friendship and support of our business.

All my best,
Scott Cummings

Scott Cummings, CMPS
President / CEO
Cummings Financial
505.884.8600 office
scott@cummingsfinancial.net

Lisa Cummings
Lisa@cummingsfinancial.net
COO / Mortgage Planner
505.362.1338 cell

Real Estate Tax Credit deadline - what to do now?

2010-04-27T15:47:00.001-07:00

If you are in the market for an Albuquerque home and you don't know quite all of the ins/outs of the deadline and what you need to do - here are some answers:

How to Get the Extended Home Buyer Tax Credit
You’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here's what you have to do to get your benefit:

1.Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract in place by April 30, 2010 with a closing date no later than June 30, 2010.

2. Decide whether to:
•• apply the credit to your 2009 tax return, filed on or before April 15, 2010;
•• file an amended 2009 return; or,
•• apply the credit on your 2010 return, filed on or before April 15, 2011.

3.Attach documentation of purchase to your return.
Documentation of Purchase

Details concerning the precise documents required to confirm your purchase have not yet been released. When this information becomes available, we will include instructions and links to the appropriate forms.

When to Apply the Credit

Buyers purchasing homes on or before December 31, 2009 may claim the credit on their 2009 tax returns.

Buyers purchasing in 2010 will have the option to:

•• Claim the credit on their 2009 return, even if the purchase is completed after December 31, 2009;
•• File an amended return for 2009 if their purchase is completed after April 15, 2010; or,
•• Claim the credit on their 2010 tax returns.
If you, or your client, purchased a home between January 1, 2009 and November 6, 2009, please see: How to Get the 2009 First-Time Home Buyer Tax Credit.

Applying the Credit to Your 2009 Taxes

You will need to do three things to claim the credit on your 2009 tax return:

1.Fill out Form 5405 to determine the amount of your available credit;
2.Apply the credit when you file your 2009 tax return or file an amended return;
3.Attach documentation of purchase to your return or amended return.

____________________________

For more information about buying an Albuquerque home or selling your Albuquerque home, please get in touch with us today - or anytime - we make it easy.

Greater Albuquerque Association of REALTORS® | Real Estate News | Story | Tackling Tax Lighting

2010-04-21T16:47:00.000-07:00

Greater Albuquerque Association of REALTORS® | Real Estate News | Story | Tackling Tax Lighting Get the latest information on Tax Lightening in Albuquerque real estate and surrounding areas. It's a hot topic in 2010!

Albuquerque hotel data hints at a recovery - New Mexico Business Weekly:

2010-04-21T14:14:00.000-07:00

Albuquerque hotel data hints at a recovery - New Mexico Business Weekly: Great news for Albuquerque - the more visitors, the better our 'incoming' home buyers. You know, once they get here, they just have to buy!

Argyle NE

2010-04-14T15:08:00.000-07:00

Argyle NE

Great NE Heights opportunity - 8004 Argyle NE - $229,000

Chama New Mexico Ranch

2010-04-08T16:37:00.000-07:00

359+ Acres of Beautiful Ranch Land, totally cross fenced, close to
Hwy, easy access, 2 mobile homes, horse barn, lean/to, private
well, horse arena, beautifully mowed, 2 spring ponds. 1 Bull Elk
permit. Bring your horse and saddle, and move on in!

For Sale for $469,000

Chama New Mexico Ranch

A gorgeous Chama Valley property

2010-04-08T15:26:00.000-07:00

A gorgeous property in Northern New Mexico - 6.25 acres with Marina views of Heron Lake, the Brazos Mountains and Chama Valley. Simply gorgeous!

A gorgeous Chama Valley property

Mortgage rates might be going up soon!

2010-03-31T11:05:00.000-07:00

Here is an email that I received from one of our preferred lenders, http://www.loansonhomes.com/ - Cummings Financial -

The Federal Reserve mortgage backed securities program ended today. The Fed has invested approximately 1.3 trillion dollars in the mortgage backed securities market to help stabilize the housing and mortgage markets by providing funds to purchase mortgages that Wall Street has been unwilling to purchase due to the housing crisis. As a result of the Feds investment in mortgage backed securities mortgage rates have been held at near record low levels. This has kept the housing market alive during a very difficult period.

Unfortunately, the 1.3 trillion dollar investment was fully funded this week. The Fed does not appear to have any intention of extending this program. In reality, it appears the opposite will occur. There have been comments from the Federal Reserve that the Fed will sell the mortgage bonds they purchased back to the financial markets.

What does all of this mean for consumers that are looking to purchase or refinance their home? Higher Rates...

Why? Because the ultimate buyers of mortgages are Wall Street investors who purchase mortgage backed securities. The housing market is still struggling and there continue to be millions of homes in foreclosure. Therefore, this risk will be priced into the yields investors expect to earn on their investments which means higher rates for mortgage loans for consumers.

Many analysts have predicted mortgage rates would increase by 1/2% shortly after the end of the Feds mortgage backed securities program. In addition, analysts are predicting rates increase from 5% to 6% by summer. This combined the with scheduled termination of the move-up and first time buyer tax credits may have an adverse impact on our housing market.

In closing, mortgage rate volatility will be controlled by the economic news that is released on a daily basis, weekly or monthly basis. This is no different than how the market has operated for years. Therefore, I will return to sending out market updates on a regular basis to keep you informed regarding the current interest rates and what is impacting interest rates.

There has never been a more important time than now to work with an expert with a proven track record. Home buyers and Realtors cannot afford to trust their transaction to anyone in this market. The new rules, regulations, disclosures and complex underwriting guidelines have made home buying a difficult and challenging process. We continue to deliver exceptional service and seamless closing even in this market.

I hope you will encourage your clients to call Lisa or myself to compare rates and programs. More importantly, take advantage of my in-depth mortgage planning. We have dramatically impacted the lives of thousands of families. As a result, we have received approximately 1,500 testimonial letters, cards and notes from our clients expressing their sincere appreciation for our expert advice, exceptional rates and seamless service.

To Your Success,

Scott Cummings, CMPS

President / CEO

Cummings Financial

505.884.8600 office

505-263-7706

scott@cummingsfinancial.net

Lisa Cummings, COO

Cummings Financial

505.884.8600 office

505-362-1338 cell

lisa@cummingsfinancial.net

Very good information! Please feel free to contact us about real estate at http://www.realestateinabq.com/ for buying or selling your home.

A gorgeous home in Northern New Mexico

2010-03-22T12:12:00.000-07:00

This is an amazing property located just outside of Chama, New Mexico - situated on 25 +/- acres, it is a dream retreat with river frontage.

Contact us today for more information

Where i would like to be right now...I'm getting spring fever!

2010-03-19T16:11:00.000-07:00

one of the best times ever - what a glorious place and it's whale season now....

A Sneak Peak at my Buyer Handbook for Buying an Albuquerque Home...

2010-03-14T16:53:00.000-07:00

Buying an Albuquerque Home? Need some tips?

to get your Free Copy today, just contact us and request yours sent to you -

Now that we are talking Albuquerque real estate sales....

2010-03-14T16:08:00.000-07:00

Albuquerque Real Estate Short Sale Rule Change

Watch for the February pending sales reports to come out - and keep one thing in mind that may influence how these pending sales 'read' - and this goes for statistics in March as well. In January, the Southwest MLS had a policy change which required that when a buyer and seller execute a purchase agreement on a property which is subject to a short sale (and needs the bank's approval) the property MUST go into a Pending status. In the past, the customary trend by some real estate associates was to keep the property in Active status, and disclose to other Realtors that there was an offer already being looked at by the bank but to submit 'back up' offers. In mid-January the new rule requiring that these properties go into Pending status upon the execution of a purchase agreement by a buyer and seller effectively moved many of these properties that were being shown as 'Active' into this new Pending status. The reasons for this were many, but the most important reason is that the bank's approval is only a contingency, and the seller and buyer have come to terms on a sale with a contingency with a third party approval. So, legally, this is an accepted purchase agreement. Most real estate purchase agreements are contingent on something, i.e. approval from the buyer's lender, inspections, disclosures, etc. The bank's approval on a short sale is just one more contingency. These short sale properties that are Pending, are just like any other - an offer can be written to fall into place should the first buyer's offer not proceed to closing. These properties are also not shown to the public on public MLS search websites. Should you have any questions regarding this new rule change, or any other questions regarding real estate, please don't hesitate to contact us at any time. We are here to help!

February Supply/Demand Statistics for Albuquerque Real Estate

2010-03-14T15:51:00.003-07:00

Balloons over New Mexico

2010-03-04T09:24:00.000-07:00

Wonderful display of balloons over our New Mexico!

Linda

NM Balloons

2010-03-04T09:20:00.000-07:00

NM Balloons A gorgeous display of balloons against the New Mexico Sky - enjoy!

Buying homes 'as is' - Foreclosures and Fixers

2010-03-03T09:10:00.000-07:00

In today's market we are seeing alot of Foreclosures, As-Is 'fixers' and our customers may think this is a great way to purchase a home. In some cases, it can be. However there are things to be aware of when venturing into this territory. Most buyers today are buying homes with mortgage loans which have stricter guidelines than ever before. When purchasing a foreclosure or fixer upper, the bank/owner will often request that the buyer pay for all of their own due diligence inspections, and that no repairs will be made on the property if discoveries are made due to these inspections. There are problems with this part of the process which often do not come to light until the buyer is well into the purchasing process. Lisa Cummings, of Cummings Financial advises this: "There are many homes on the market that seem like great deals due to foreclosure or other adverse situations the seller may be facing. Many times when a property owner faces "tough" times, maintenance and repairs on the home are stopped, and these homes are not always in perfect condition. When you are considering buying one of these homes, your inspection of the property is more important than ever. However as the mortgage market tightens, lenders are also spending more time with due diligence regarding property appraisals. Lenders are more thorough in underwriting new loans that are being used to buy these types of properties, especially if the new buyer is using VA or FHA financing. Purchase agreements are being examined by underwriters to see what type of inspections are being requested to determine any possible "red flags" with the property. Every financed purchase transaction will require an acceptable appraisal, and underwriters are reviewing appraisals more in depth as well. If any note is made by the appraiser about anything pertaining to the condition of the home such as possible roof issues, age of the heater, etc, underwriters are requesting additional inspection of these items and possibly additional repairs to be completed prior to closing. Underwriters are also examining appraisal photos. If they see in the photo a spot that looks like a roof leak on a wall or ceiling, they may require additional inspections, repairs and certifications prior to closing. It is a good idea to consider any possible inspection and repair costs as part of your costs for the property since the lender will require all systems (plumbing, heating, roof, structure, etc) to be in acceptable condition before they will allow you to close on your purchase" I specialize in estate sale properties and I often advise the seller to price the home for a 'cash only' sale due to the fact that this financing glitch will only make the process more cumbersome for them. I have not seen issues with finding cash buyers. I have, however, seen numerous issues arising out of the more stringent lender and appraisal requirements. So, before you set out to buy the bank owned property or fixer-upper, be aware and informed!

REALTOR® Magazine-Daily News-Flood Insurance Program Is in Jeopardy

2010-03-02T10:08:00.001-07:00

This action has huge implications to the stabilizing of our home sales and related economy. We need to find a way to make sure that this is fixed. REALTORÂ® Magazine-Daily News-Flood Insurance Program Is in Jeopardy

Albuquerque Visitor's guide

2010-02-26T12:37:00.000-07:00

Great visitor's guide for Albuquerque Great places to go and things to see - ENJOY!

New Marketing Guide for Home Sellers in Albuquerque

2010-02-16T11:45:00.002-07:00

Open publication - Free publishing

Live with Regis and Kelly

2010-02-11T09:45:00.000-07:00

Live with Regis and Kelly these cookies look scary good!

How important is a good website to sell your Albuquerque home?

2010-02-10T08:01:00.004-07:00

Sometimes we, as Realtors, have our best experiences in real estate when we become the customer. This happened to me recently. I have a rental property that has been rented since I purchased it a few years ago. I have it managed by a professional property management company. In December I received the 30 day notice that my tenant was moving out and moving on. Terror! In this dicey real estate market, what were the chances that I would get my property rented again? I still had photos of the property from when the home was purchased, and since we have a property type in our Multiple Listing System for rental properties, I thought - why not? I didn't want to manage the property myself, but I certainly wanted to help in the marketing of it to get a good new tenant. So, one afternoon I sat down and entered the home into the Albuquerque MLS as a rental available. I put the contact information in for brokers who would see it in MLS to contact my property manager for showings to their clients, and offered a compensation should another broker have a tenant for me. I got several inquiries because it suddenly, of course, showed up on my website. My website has very high rankings for the top keyword searches for Albuquerque real estate {usually number one}, so when people were looking for Albuquerque real estate - my site came up and my 'featured listings' are looked at before anything else. One afternoon I received a call from a customer who was really interested. She was thinking of renting an apartment but when she saw the property on the website and saw it's location with the mapping feature, she called me right away. I had her contact my property manager for the rental details and now I have a very nice family moving into my rental property! So, there you go. A success story right from real time experience. How important is it that your property for sale shows up on the Number One real estate website, and is featured on that website for people to see? It's very important! I can attest to that!

Selling your Albuquerque Home

2010-02-05T15:16:00.001-07:00

Here is a sample copy of my co-authored book on selling your Albuquerque home - If you would like a free copy mailed to you, just let me know and I'll get it to you in the mail right away. Thanks for checking it out! "Get The Best Deal When Selling Your Home", Albuquerque New Mexico edition

What comes next in Albuquerque real estate?

2010-02-01T16:37:00.005-07:00

Waiting to sell your nest? Remember my interview with KOB here where we talked about not waiting to put your Albuquerque home in the market if you need to sell...."we're going to wait until the market turns around", or "wait until the real estate values go up" Well, I can tell you that odds are if everyone is saying that, you are going to be jumping into the pool at the same time. This will create what I believe is going to be another ripple effect, a bad one, for that old economic issue of Supply and Demand. We are in an information age like no other. Everyone hears the same news at about the same time with the same amount of intensity. So, when we start hearing that 'the market is bottoming out' or 'the market is getting better' we might be kidding ourselves to think that we are going to be the only smart guy in the room who will put their house on the market at just the right time. I believe there is a large pool of individuals out there who are just waiting...waiting for something...before they add their home to the inventory. If this happens all at once, we are going to see a surge of new listings on the market just when we thought that the supply had leveled out to 'normal'. The larger the supply, the fewer the buyers, the lower the prices might go again. This seems almost too simple, but if you think about it from the perspective that the consuming public tends to do things all at the same time (and the economists in the audience count on this) you might want to re-think your idea of 'waiting' because you might not be as unique as you think. Here's the facts - if you have to sell your home, do it now. There were alot of people who waited too long and now I know they will take a bigger hit than if they had pulled the trigger, priced it perfectly, staged the home just right - and grabbed the right buyer. I also know there were sellers sold their home just in the knick of time. Looking back I know they got the highest dollar for their property than they would see in years. The thing I cannot promise, nor can anyone else - is what is going to happen in the future. While I love being optimistic, I also have to base practices in reality. Reality states that we have lived through an historic time and we simply don't know what values are going to do in the future. Of course prices will go up, someday....but it will take a long steady climb to recover the pricing that we have seen in the last couple of years. What kind of a delay are we putting on our future plans, the use of money, and our energies...to wait it out. Be smart now - check my Market Snapshot and see what home prices are doing in your neighborhood. Then, call in the professionals at The eTeam to get your home sold.

This Land located at 1 Arroyo Bonito, San Pedro Creek Estates, Sandia Park, New Mexico is presented by Linda DeVlieg ABR, ePro, Cyberstar, CRS, Ecobroker® of Coldwell Banker Legacy.

2010-01-27T14:34:00.000-07:00

This Land located at 1 Arroyo Bonito, San Pedro Creek Estates, Sandia Park, New Mexico is presented by Linda DeVlieg ABR, ePro, Cyberstar, CRS, Ecobroker® of Coldwell Banker Legacy. Build your own HGTV Dream Home here at this wonderful location! This lot has been reduced 85K and is now BELOW 200k - most other lots in this area are priced higher. We have the engineering studies on this property and will share at your request. Contact us for more information Albuquerque Real Estate

This 2 bedroom 1.5 bathroom Condo located at 8431 Heights Rd NE #C, Albuquerque, New Mexico is presented by Linda DeVlieg ABR, ePro, Cyberstar, CRS, Ecobroker® of Coldwell Banker Legacy.

2010-01-27T14:30:00.001-07:00

This 2 bedroom 1.5 bathroom Condo located at 8431 Heights Rd NE #C, Albuquerque, New Mexico is presented by Linda DeVlieg ABR, ePro, Cyberstar, CRS, Ecobroker® of Coldwell Banker Legacy. Great NE Heights opportunity - super location. Contact us today for your appointment to see this great property! Albuquerque Real Estate

Animoto.com

2010-01-27T10:34:00.001-07:00

Albuquerque real estate stats that you can use!

2010-01-21T15:30:00.002-07:00

Well, 2009 is over. What does that mean? For the Albuquerque residential real estate market, there are some very positive signs that we have hit bottom. There are some who are suggesting that there may be a “double bottom” but that remains to be seen. The last five years. Here are some numbers that might be encouraging. Let’s go back to the peak, which was 2005. There were a total of 13, 448 closed single family detached resale homes that year. In 2008 there were 8,144 closings. That is a 39.44% decrease over 3 years. There were 7,905 closings this year! While still a decrease, that is only -3.08% from last year. August 2005 had 1,267 closings, which was the highest number of resale closings in one month ever in Albuquerque! From that month on there was a steady but gradual decrease, month by month, until November of 2007 when the bottom fell out. Every month of the following year starting August 2005 had fewer closings than the past year for 46 straight months! In January of 2009, we had 324 closings in the entire Board. To put that in perspective, it was the lowest number of closings in a single month since 1995. February of 2009 was no better. The severity of that number is compounded when we remember that the population of Albuquerque is around 835,000 now as compared to 1995 when there were about 550,000 people here in town. It turned in 2009…just a little! So then what happened? Slowly things started to pick up. Some people say that the first-time home buyer credit artificially moved the market. That may be part of it, but in any event, finally after 46 straight months of decline, in July of 2009, there were more closings than the same month in the past year. Since then, 5 of the last 6 months have been up over 2008! Total single family closings in the metro area in 2007 were 10,961; as I mentioned above, in 2008 there were 8,144 and in 2009 there were 7,905. While slightly below 2008, the monthly trend is on an upswing. While I do not believe we can identify the bottom in terms of months, as I said above, January and February of 2009 were record setting low. The increase in closings over the last 6 months is the first good sign! The second good sign, is a significant decrease in supply. The listing inventory has decreased from over 5,821 single family homes on the market in December of 2008 to 5,176 single family homes on the market in December 2009. That is an 11.08% decrease in the inventory. Are we really at the bottom? One way cycles can be identified is to look at annual rates of appreciation or depreciation. The Board of Realtors has been keeping track of those annual numbers since 1983. In 1988 there was a -2.06% depreciation in average price from the year before. In 2000 there was a -0.16% depreciation which was the first negative year since 1988. In 1993, five years after the negative number in 1988, there was a 9.38% appreciation compared to the prior year. That was the highest rate of annual appreciation between 1988 and 2000, which would indicate the top of the cycle. Bottom to bottom of that cycle was 12 years. From 2000, the bottom, we had 5 years to the top of the next cycle which was 2005 with a 12.06% appreciation Unlike the prior cycle, we had a sharp drop in 2008 with a -4.08% depreciation, from $243,089 to $232,626 - the highest average price decrease since the Board of Realtors has been keeping track! In 2009, for the first time ever we had a second year with a precipitous decrease in average price. We ended the year with an average price of $216,687 which is a-6.85% decrease from $232,626! First time ever that there have been two years in a row of price decreases. This is the third good sign because lower prices mean increased affordability. Now, as to demand. Population growth is everything where demand is concerned. Whether by job expansion, immigration or the creation of “organic buying entities” (young adults get a job, move away from home and buy their first house), these factors drive new construction. In 2006 there were 6,611 new home building permits in greater Albuquerque. In 2007 there were 4,037. Only 1,874 permits were issued in 2008 and in 2009 only 1,669 were issued. While that is a devastating statistic for the builders, many of whom either left Albuquerque entirely or were forced to shut down their operations, it means that very few new homes were put into supply. Providing there is any growth in the number of buyers for homes, that will help continue to absorb the supply, which is what we are seeing. What’s all this talk about a “double bottom”? The final talk of worry on the street is the predicted wave of foreclosures as a result of the Adjustable Rate Mortgages adjusting to higher payments causing additional defaults. Here is one possible scenario, if the prediction even comes to pass. Anybody who loses a home in foreclosure will have to move somewhere after they lose their house. Their options are a few; leave town, move in with friends or parents, or rent until their credit and cash is restored. The most likely scenario as I see it is the rent option, either into a house or an apartment. As the demand increases for rentals, investors will likely respond to that demand, purchasing the foreclosures and providing homes to rent. In this scenario, the homes that come on the market will be absorbed and prices will not fall because the purchase demand from investors will sustain. Here is the prediction…with a grain of salt or two. To recap, decreasing supply, an increase in pendings and closings, a decrease in prices which improves affordability, very low interest rates and the lowest new home construction rate in years all point to the beginning of a recovery for the Albuquerque residential resale market. How fast and how soon? The first year after the bottom in the last two cycles has seen about a 1.6% appreciation. Don’t expect a rebound to old prices for a few years, but, hopefully, a steady climb out of the bottom! Happy 2010!

WRONG INFORMATION GIVEN TO US AND THE PUBLIC

2010-01-14T13:58:00.004-07:00

I have to apologize on behalf of myself, my organization www.GAAR.com and anyone else who published the wrong information last weekend regarding the new ordinance requiring LOW FLOW TOILETS with regard to real estate sales. It was published by our association www.GAAR.com - to the media at KOAT - and then to the public at large that it would be a SELLER REQUIREMENT to replace toilets with low flow toilets before the completion of a sale of real estate. After reading the new ordinance (which was included with the report) it came to my attention that this information that was dispensed by both the news media and my trade association was incorrect. The ordinance clearly states that it will be the responsiblity of the BUYER of the property to comply with the ordinance within a particular time frame after the sale is complete. My error was trusting the information that comes out of my assocation, www.GAAR.com and then to the media and then dispensed to the public as if it were true. This is a great lesson in being sure to verify everything that comes across your desk, no matter who is saying it. Have a great New Year, and here's to good reporting!

2009 Holiday sales statistics for Albuquerque homes

2010-01-04T12:57:00.007-07:00

I did an analysis of Albuquerque home sales from November 15, 2009 to present today. This will give you an idea of what the activity was for sales based on VACANT homes vs. OCCUPIED properties. Vacant homes are either new builder inventory (not frequently put into MLS), homes where the owner has moved to another area or another home, foreclosures, and vacant investment property no longer occupied by a tenant. Of course we have to look at these statistics based on broker data entry (whether the broker said it was occupied but was really vacant), etc. These statistics show that for OCCUPIED PROPERTIES, from November 15th to present (January 4, 2010) there were 151 properties put into PENDING status. For VACANT PROPERTIES, there were 181 properties put into PENDING status. What is interesting is that the 'price point' or average price for the sales were higher for OCCUPIED properties, less for VACANT homes listed for sale. The average DAYS ON MARKET was also found to be slightly higher for VACANT properties. This goes along with the idea that homes that are staged, lived in, and have a good 'feel' when shown are more likely to sell than vacant properties, even when considering buyers that need to have a home ready to move into. In our market area, escrow periods (the time it takes to close on a transaction) on anything but SHORT SALES averages approximately 30-40 days. Most sellers in our area are prepared to move out and have the house ready for closing within that time frame. If you are ready to buy your Albuquerque home, keep these time lines in mind. REPORT FOR VACANT PROPERTIES REPORT FOR OCCUPIED PROPERTIES

Mid Year Sales statistics for Albuquerque homes

2009-12-30T13:24:00.004-07:00

Here are the mid-year sales stats - stay tuned as 2009 should be out momentarily - have a very Happy New Year For all of the real estate information all the time - Click to our website

Bank owned property statistics

2009-12-30T10:51:00.005-07:00

How much do I offer on a foreclosed home? A great question, so I thought I would run some statistics about how much these homes really sell for, vs the listing price that is advertised. A study done of closed sales, on bank owned properties January 1st through today, 2009. 391 bank owned homes sold in 2009. The bank owned homes that sold the quickest? Price in the 130’s – the average days on the market for this category was approximately 30 days. The bank owned properties that took the longest to sell? Price in the 800’s and up – the average days on the market for this category was over 300 days, up to 800 days. When we look at how close the sold price came to the actual listing price, when a bank owned property sold in the first 30 days, the LISTING PRICE TO SALES PRICE RATIO was 99%. When the bank owned property stayed on the market over 120 days, the LISTING PRICE TO SALES PRICE RATIO went to 93%. It is notable that this statistic is the same for CDOM (cumulative days on the market) to DOM (days on the market). I have attached the study document for your review, and if you have questions about this, don’t hesitate to get in touch with us!

Home Buyer Tax Credit - made easy

2009-12-30T09:46:00.004-07:00

Have you been wondering what the new Home Buyer Tax Credit is all about? I'm sharing a document with you that may just put it all into perspective and if you need any further assistance with buying your new Albuquerque home, please contact the eTeam right away! We are here to help.

I shoulda toyned left....

2009-12-24T09:04:00.003-07:00

New Horse Properties search

2009-12-23T08:12:00.004-07:00

Now there is a new link for Horse Properties in the Albuquerque area on my website; these properties are updated daily for new property listings that either have horse facilities already in place or are zoned for horse facilities.

Enjoy your visit - HORSE PROPERTIES

NEW SEARCH FOR 'HORSE PROPERTIES'

2009-12-21T09:22:00.003-07:00

For those of you wanting to buy that perfect 'HORSE PROPERTY' in the Albuquerque area, here's an easy search for you.

These properties either have facilities already in place for Trigger, or have the related zoning requirements in place to allow you to build the perfect house for your horse.

I grew up with horses, raising and training them, loving them, showing them...they are the best friends! I loved riding the foothills of the Manzanos and chasing the ground owls on long summer days.

S0 - have fun with your search, and let me know how The eTeam can assist you with your next home purchase or sale - we are here to help.

Click here for 'horse properties' and save your search - TRIGGER FINDS A HOUSE

Market update report for Albuquerque real estate

2009-12-11T08:21:00.002-07:00

I have noticed something lately. Every morning and every evening I pull up Active listings and Pending listings, what has sold and been listed in the last 24 hours. I also pull up activity for vacant homes vs. occupied homes as a separate list. What I have noticed lately is an abundance of activity for 'vacant' homes finally going under contract in the Albuquerque area. This is great news for our inventory. It means that more of these homes that the owners have left b/c of job transfers or even foreclosure - have finally found new owners! If the owners have left for other job opportunities it means they will now be able to buy at their new destination. It means that foreclosures (which are fairly low in our area) are being bought and finding new families to love them. If an owner has vacated their Albuquerque home to buy another one locally...it means now they have been relieved of the responsibility of ownership and can move on with more productive activities. I feel the market turning around in a definitely positive way. If you need a market analysis or update for your Albuquerque home, please feel free to contact me anytime. Linda@RealEstateInABQ.com

Why doesn't Zillow work?

2009-12-02T09:13:00.003-07:00

Here in New Mexico, we are what is considered a "limited non-disclosure state". This means that property sales information is only available through the MLS to licensed brokers. While in other states, where Zillow pulls the information from, the sales price information is available through the county public records - the tax assessors in New Mexico only have the information for the basis of assessing the property for tax values. Zillow uses county records to estimate their values for properties, because these values are easily available through on-line resources. In New Mexico, these records are not available to the public, so Zillow does "guesses" based on current listing information. The tax assessors in New Mexico only recently were made privy to this information, so tax values are still being calculated, so it is still difficult to pull what looks like the 'assessed' value and come up with a sales value for a property. On that same note, it is also unlawful for a Realtor to give an appraised value for a property, only a range of value for a property. This is due to laws on the books which allow only licensed appraisers to set a 'value' for a property. Realtors are allowed to give a range of market value for a property - and cannot get paid for this service.

KOB.com - Some experts say now is time to list home on market

2009-11-22T09:04:00.002-07:00

KOB.com - Some experts say now is time to list home on market Don't wait! The right buyer could come along while you have your home off the market; your neighbor's house for sale will sell and you will be left behind. It's an old fashioned notion that to sell your Albuquerque home, you somehow have to capture the 'back to school' market, but in today's technological world that just isn't true. Buyers have been watching and planning, and job shifts have brought on new times to move. Put your Albuquerque home on the market now to get in front of the new buyers' eyes.

13 Reasons to List During the Holidays in November and December

2009-11-16T17:00:00.002-07:00

Here are the reasons to list your Albuquerque home for sale during the holidays....no kidding!

1. There is less competition for buyers. 2. Winter prospects are more serious buyers. 3. Your home looks better during the holidays. 4. One of the highest percentages if “the listing sold” to “listing taken” occurs during this time of year. 5. Expanded Home Buyer Tax Credit, for First-Time Home Buyers and Existing Home Buyers (specified criteria applies as defined by law). 6. You may receive more money for your home now because you have less competition. 7. Throughout the holiday season, you may restrict showings during your personal family events. 8. Buyers have more time to look at homes during the holidays, especially during vacations. 9. January is traditionally the biggest transfer month and you must be on the market to capture that market. 10. By selling now you can have a delayed closing or extended occupancy until the beginning of the following year if you want it. 11. When you sell during the winter you have an opportunity to buy during the spring, when many homes are on the market. 12. You may have fewer actual showings, but more qualified and motivated prospects. 13. Corporate transfers, who need to buy a home now, can’t wait until spring.

Entertainer's Dream Home in Albuquerque

2009-11-16T09:55:00.002-07:00

This is an entertainer's dream home - Call me today for details!