Albuquerque Real Estate News

Housing Predictor (www.housingpredictor.com) recently listed Albuquerque as 17 in the top 25 of markets in the US currently expecting appreciation in home values, or, as may be more accurate, the least amount of depreciation.

In case you have any doubt, this is great news for buyers and sellers alike.  Buyers, who may be waiting on the sidelines for “the bottom” may see this as one more indicator, in a long string of indicators, that Albuquerque has not seen the full boom, and may not see the full bust, aspects of this economy like many areas of the country.   This is in turn great news for sellers who may be desperate for a warm body/buyer with whom to negotiate.   It’s a great time to get in the buying game.   As my esteemed colleague and Realtor® Greg Sofio likes to say, “It’s only a Buyer’s Market IF YOU BUY!”

If you want to believe the worst you can, but in fact, they are moving along quite nicely here in Albuquerque.  Am I being a blind optimist?  Well, here’s an interesting statistic.  In the month of October, 2008, there were 406 pending sales in ABQ.  Last year, October 2007, there were 402.  FOUR HOMES DIFFERENCE in homes sales for the month of October from 2007 to 2008.   If you believe the national media, you’d think a house hadn’t sold for months, or, that we had seen a severe drop-off.  But we have not in Albuquerque. What we have seen, is a marked increase in the number of homes for sale.  The homes that do sell have sold, on average, in 72 days.  VALUE is KING in this market. Three of my last four sales were homes that sold in under 45 days for 98.9% of the list price.  It IS possible to sell your home, but you need a realtor who understands the market, with experience, integrity, honesty and a can-do attitude.  Top-notch service and excellent communication always helps.  That’s why you should be calling me right now if you have a property to sell!

Also, I would like to remind every that YES, YOU CAN GET A LOAN!!!!  If you doubt this CONTACT ME RIGHT NOW, I’m not kidding!  National news is NOT local news, our local lenders are ready, able and willing to lend you money to buy real estate– 100% financing IS still available, no down payment programs ARE still available.  When the national news starts playing on your radio, save yourself a little anxiety (because who needs more of that) and just TURN IT OFF.    Much of the national news just does not apply to our real estate and mortgage market.  Our New Mexico lenders have overall practiced very conservative and responsible lending policies, and in fact, most are not even eligible for bailout money!  I’ll say it again, YOU CAN GET A MORTGAGE TO BUY A HOME, right now, today.  Call me if you have questions.

(excerpt from www.housingpredictor.com)