Real Estate Information

Albuquerque Westside Hot Pick

6008 Arrow Point   NW

Gracious single story home with dramatic open floor plan featuring 2 living areas. Custom paint - tile in all wet areas - ceramic log fireplace - refrigerated air conditioning - Gourmet kitchen with ample counter top and cabinet space - spacious secondary rooms -  grand owners suite with luxurious bath and large walk in closet.

$200,000 - $94.38 Sq.

Contact Me

To Search The Entire Albuquerque MLS

To Search Albuquerque's Westside Communities

And Here's Your Morning Coffee

Albuquerque Westside Hot Pick

5205 Stone Mountain 

Spacious single story home with 3 car garage and cul-de-sac lot. Granite counter tops - stainless steel cook top - Large Great room with raised ceiling, stone faced ceramic log fireplace. Easy care backyard with Koi pond and lots of plantings.

$245,000 - $103.11 Sq.

Contact Me

To Search The Entire MLS

To Search Albuquerque Westside Communities

And Here's Your Morning Coffee

Low home prices and strong demand for rental properties are causing a surge in investor buying, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

Investor purchases hit 22.3% of closed transactions for the month of October, up from just 19.6% as recently as July. For the past three months, investor participation has exceeded 20%, continuing a long-term trend of increased investor interest in the housing market.

A combination of low home prices and growing demand for rental units make purchasing damaged Real Estate Owned (REO), fixing up the properties, and then collecting monthly rents, an attractive financial play. In October, average prices for damaged REO hit $101,100, the lowest price recorded in two years. In contrast, home prices for non-distressed residential properties averaged $266,700 in October.

One factor pushing down average home prices overall is the high proportion of distressed properties found in today’s housing market. The total proportion of distressed home sales, as represented by the HousingPulse Distressed Property Index (DPI), rose a full 4 percentage points to 48.4% in October, up from to 44.4% in September.

Meanwhile, the gap between the supply of distressed properties and their absorption by first-time homebuyers widened to 13.7 percentage points in October, from a reading of 8.8 percentage points in September. This shows that first-time homebuyers have become less active in the distressed property housing market.

 This has been a hot topic lately due to the low rates.

Should you buy or rent in Albuquerque NM?

There comes a time in everyone’s life when they have to make the ultimate decision and decide whether to buy and own their own home or continue to rent. It’s a hug decision as both have notable advantages  and disadvantages and it is not one to be taken lightly. So let’s have a look at these advantages and disadvantages to see which option is really the best option for you.

Owning your own home is the traditional dream that practically everyone has, especially when it comes to starting a family. It gives you a feeling that you have accomplished one of your goals and that you are both financially and emotionally secure as well as giving you a great sense of community. But is it the right decision for you? Let’s have a quick look at the advantages and disadvantages of buying and owning your own home.

Advantages:

• Set your own rules • Sense of security • A home is a great investment (long term, not for a quick turnaround, especially in today’s market) • Get various sorts of tax rebates and deductions • Repayment is usually the same or even lower than it would cost to rent – see example of my rent vs. own comparison • You build equity over time • Improve your credit score if you need a loan in the future

Disadvantages:

• You are liable for any accidents and injuries on your property • You are liable for any damage to your neighbor’s house that stem from your property – for example a tree branch falling over the fence and damaging something in your neighbor’s yard. • Responsible for any maintenance in, on, or around your home • No longer can you just pack up your things and leave when you want. You’ll need to list and sell your home • Large loan responsibility even if you are having financial hardship • Required to have homeowners insurance to cover damages to the property • Responsible for property taxes • Requires an upfront down payment (VA and USDA are 100% financing products, if you qualify)

Renting is something most of us start out doing and many people are comfortable doing it all their lives. There are many advantages to renting a home but there are also a few disadvantages. Let’s have a look at them.

Advantages: 

• You can up and leave as soon as your lease is up • If you run into a financial hardship, you can move again • Little or no responsibility for maintenance • Sometimes utilities are included in the rent cost • Sometimes you have free use of amenities such as laundry, pool, and other sorts of actualities

Disadvantages:

• Limited or no freedom as to what you can do with the place (paint, design, build, etc.) • Rent MAY increase • No tax deductions • At risk of being evicted • The house could be sold and you can be asked to leave • Could have restrictions on certain things like noise and pets • Could have restrictions on the number of members living in the house/apartment • Rent is not going into a productive investment for you

As you can see clearly there are many advantages and disadvantages to owning your own home and renting. Some have advantages and disadvantages the other doesn’t have, but both can be a comfortable way to live. What it really comes down to is you have to choose the one that suits you’re financial, emotional and lifestyle needs at this time. You have to take your future into account as well, will you want to be tied down and take responsibility for a huge investment or would you prefer the freedom of being able to move whenever you please? It can be quite a hard decision to make and it is one that needs a lot of time and thought before you proceed to take any further steps. 

Albuquerque Westside Top Pick

9627  Pago Pl.  NW

Plenty of living indoor & outdoor living space - gorgeous kitchen with island and breakfast nook and  featuring  Brazilian porcelain tile floors.  Big bedrooms all with walk-in closets. Large loft for additional living space- game room. Great lot location on cul-de-sac with  mountain & city views and easy access to I-40. Custom covered patio.  Seller to replace backyard grass.  

$252,900 - $81.16 Sq.

Contact Me

To Search the Entire MLS

To Search Albuquerque Westside Communities

And Here's your Morning Coffee

The National Association of Realtors (NAR) released some results from the most recent home buyer and home seller survey. Here are some of the findings:

First time home buyers make up 37% of all home buyers this is down from 50% in 2010.

Seventy-eight percent of recent home buyers said their home is a good investment, and 45 percent believe it’s better than stocks.

The median age of first-time buyers was 31 and the median income was $62,400, up from $59,900 in the 2010 study.

The typical repeat buyer was 53 years old and earned $96,600, notably higher than the $87,000 median reported in the 2010 profile.

The median down payment for all home buyers was 11 percent, ranging from 5 percent for first-time buyers to 15 percent for repeat buyers.

According to the survey buyers searched for a home for a median of 12 weeks and visited 12 homes.

The typical home seller was 53 years old and their income was $101,500 and had lived in their home an average of 9 years. First-time buyers plan to stay for 10 years and repeat buyers plan to hold their property for 15 years.

The one thing that surprised me in the survey is that 51% purchased in a suburb and 18% purchased in an urban area.

I wasn't surprised to learn that 40% of buyers found their home on the internet, followed by 35% from an agent and 11% from a for sale sign.

Albuquerque Westside Top Pick

4993 Butte Pl.  NW

Wow! Immaculate updated home in quiet cul-de-sac location with views! Large eat-in kitchen with ample cabinets and counter space - plus pantry - New Stove & dishwasher. Living room featuring gas fireplace & new wood floors. Awesome 20 x 10 sunroom. Great location Near hiking and biking trails, library  & parks. 

$154,899 - $86.06 Sq.

 Contact Me

To Search The Entire MLS

To Search Albuquerque Westside communities

And Here's Your Morning Coffee

Albuquerque Westside Top Pick

6608 Carney  NW

Incredibly well kept home with new carpet, and paint. Open floor plan featuring large bedrooms and large closets.. A great kitchen with room for all. All inspections are complete and repairs made. Great location near the petroglyphs with biking and hiking trails.

$139,900 - $99.86 Sq.

Contact Me

To Search The Entire MLS

To Search Albuquerque Westside Communities

And Here's Your Morning Coffee

First three weeks are critical in your home sale  

The skill of pricing a home to sell is not art and neither is it subjective. It comes with proper research and market analysis of surrounding homes within the neighborhood, similar year built and similar features. Correctly-priced homes should not stay on the market long .  Usually around 30 - 60 days no matter what your housing market looks like. Yes, I do mean it. If the property is on the market for over 60 days, it is a strong indication that it is overpriced based on the market, its location and features.

Why Is The First Three Weeks The Most Crucial?

This is when your home typically receives the most traffic regardless of the season: Spring, summer, fall or winter. The first weekend could be slow, but the second weekend should be busier and it peaks at the third weekend. Remember that buyers are usually non-forgiving in this marketplace. If it is indeed over-priced to begin with, they usually WILL NOT return for a second showing even if you reduce the price later. So, the typical seller's response about "I'll list it first, then I can always reduce it" concept does NOT work in a housing market like we have.

Also, the further away you go from the time you initially list your home, the further away you are potentially walking away from your asking price. Thus, the greatest opportunity to sell is when it is "fresh" on the market.

So, if you are serious and thinking about selling your home, get it right the first time. There are important steps to market your home and a resourceful real estate expert in your area CAN and WILL help you get the job done so that you can move on. I employ a systematic market approach that most real estate agents in my area do not use. When you care about being on your way to the closing table, do contact me immediately to see how different my proposition will be.