inventory: What's Your Agent Doing To Sell Your Home At The Moment? - 02/03/17 01:12 PM
We'd like to start today's blog by repeating its title:
What's Your Agent Doing To Sell Your Home At The Moment?
Maybe this is something you've never considered but, wait a second, doesn't it say a lot about how well your agent is communicating with you that you have absolutely no idea of what's going on?
While no one can be expected to give a moment by moment account of their activities, and you may have good reason/past experience that leads you to implicitly trust your agent, what if your home isn't selling while similar properties are being snapped up in the busy current … (0 comments)

inventory: Quarterly Albuquerque Real Estate Stats Re-Emphasize Bouyant Market - 01/31/17 06:20 PM
While we always provide you with a monthly analysis of Albuquerque real estate statistics, we also like to bring you the essence of the quarterly reports issued by The Greater Albuquerque Association of REALTORS®(GAAR), as these provide arguably even better evidence of more sustained trends in the market.
Although we aren't at all surprised by the positive results in the last three months of 2016, just published by GAAR, we're still encouraged by another strong indication that the market is showing such noticeable year on year growth, looking through a wider lens. It should also be observed that all this occured in … (1 comments)

inventory: Five Things Smart Home Sellers Will Be Doing This Year - 01/27/17 02:15 PM
Where is the time going? This is already our penultimate blog of January, meaning that we're already close to being one twelfth of the way through 2017. Incredible isn't it!
As we've been reflecting in recent weeks, it has been a hectic start to the year, building on the momentum at the end of last year.
More and more people will be making firm plans to list their homes over the next few weeks. If that sounds like you, here are some great tips to help give you a winning edge in the market.
Don't delay until the Spring if you can avoid doing … (1 comments)

inventory: Real Estate Is A Truly Year-Round Business These Days - 01/24/17 01:05 PM

Regular readers of this blog will know that we maintain a very keen eye on real estate market statistics for the Albuquerque area.
When we looked in detail at the figures for December earlier this month, we noted that closed sales were actually up on October and November. This stat becomes even more remarkable when you consider that October had higher pending sales levels than September and, even more incredibly, the peak month of July! And there was no slump in those months either!
So much, then, for those who would have it that the holidays aren't a good time to list … (0 comments)

inventory: Why Hiring a Top Buyer's Agent is Going to be So Vital This Year - 01/18/17 11:21 AM
We've talked before in our blogs about the importance of hiring a top buyer's agent to guide you through the home purchasing process.
In 2017, we think the buyer's agent is going to be an even more important asset.
The key reason we say this is that buying a home in this area could get even more competitive this year.
In our mid-week blog last week, we looked at the very positive latest Albuquerque area statistics and reflected on their only significant negative - inventory of available homes for sale, which sunk to a multi-year low last month.
While there were some signs of a … (0 comments)

inventory: Why Wait For Spring - The Market's Hot Now! - 01/13/17 06:45 PM
In our blog earlier this week, we looked at the very rosy latest set of statistics just published for the Albuquerque area by the Greater Albuquerque Association of REALTORS® (GAAR).
If you missed the article, please click here, especially if you're considering selling your home, as it makes for very good reading.
We don't need to go over the figures in detail again today. Suffice it to say, then, that December saw excellent year on year market growth in terms of both the numbers of sales and mean/average sales prices. This came as the much publicized hike in mortgage rates became a factor, … (1 comments)

inventory: Latest Albuquerque Area Real Estate Statistics Show Great Promise for 2017 - 01/11/17 07:28 PM

We have been eagerly awaiting the latest Albuquerque area real estate market overview, just published by the Greater Albuquerque Association of REALTORS® (GAAR).
The chief reason for our eagerness was to see if the rises in mortgage rates since the election had negatively affected the generally upward path of our local markets.
We're very pleased to report that the opposite has in fact happened and December was yet another remarkably successful month locally.
Median detached home price rose by 8.6% year on year to $190,000, while average detached home price increased by 7.5% ($222,115) for the same period.
Closed sales were actually up on both … (2 comments)

inventory: Year in Review 2: Low Inventory - 12/20/16 04:35 PM
Low inventory of available homes for sale has been a long standing issue in many parts of the country and the Albuquerque area is no exception to that rule.
In our review of 2015 we looked at low inventory and, 12 months on, the situation is even more acute.
Of course a lack of available homes isn't exclusively bad news, especially for sellers who can gain from reduced competition and more robust asking prices.
The main issue, however, is the lack of choice that low inventory creates for buyers and, while it's been a great year for real estate, we'll never know how much … (3 comments)

inventory: Year In Review 1: First Time Buyers - 12/16/16 04:56 PM
While not every real estate expert prediction comes true, one that certainly did come through in style during 2016 was the most significant return of the first time buyer for many, many years.
By August, we were able to report that, according to a Zillow survey, 53% of all buyer sales by that point in the year had been to first time buyers.
It will be really interesting when the final end of year figures are in, but what is already clear is just how fundamentally this most welcome trend has informed the real estate market throughout 2016.
Other than the simple mathematics of … (0 comments)

inventory: November Albuquerque Statistics Point to Vibrant Winter Homes Market - 12/13/16 05:27 PM

We've just taken a close look at the November statistics recently released by the Greater Albuquerque Association of REALTORS® and they once again make excellent reading for sellers.
These figures confirm the expectations we expressed last month that the Albuquerque area homes market is vibrant as we transition from fall into winter.
Focusing as we always do on the local single-family detached homes market, we can see that the trend for homes to sell in less time and for more money continues.
One of the most promising nuggets of information on this occasion is that pending sales were up by 25.7% on November 2015. … (0 comments)

inventory: A Timely Reminder of Just How Competitive Mortgage Rates Still Are - 11/29/16 07:11 PM

An Albuquerque Journal online article certainly grabbed our attention earlier today.
The report said that latest Standard & Poor’s CoreLogic Case-Shiller national home price index, released today, is slightly above the peak it reached prior to recession in July 2006, rising 5.5% between September 2016 and September 2015.
While this offers a national snapshot, and there are naturally regional variations, it's important to consider the implications of this excellent news at a time when rising mortgage rates have been the overwhelming real estate industry focus since the election (although they do appear to have stabilized in the past few days).
Above all, the index … (1 comments)

inventory: The Importance of Keeping Your Home on the Market for the Rest of 2016 - 11/25/16 11:40 AM

First of all, we hope you and your family had a fantastic Thanksgiving Day and if you've been shopping today that you found the bargains you were looking for.
Thanksgiving always heralds in the start of the Christmas season and, rather less joyously, another annual tradition we get to see in the real estate industry around now is a number of sellers taking their homes off the market until the New Year.
There is still a widely-held misconception that homes do not sell around the holidays.
In reality, however, this is actually a great time of year for our industry, not least because, let's … (0 comments)

inventory: Continuing Positive Market Trends Set Up An Exciting Winter for Sellers - 11/19/16 12:57 AM
It's great to be able to report that the positive market trends we've been seeing all year in the Albuquerque area real estate market appear to be continuing deep into the fall.
The latest statistics, for October, recently released by Greater Albuquerque Association of REALTORS® (GAAR) are perhaps most notable for the lack of change they represent.
In other words, as predicted we're seeing another strong end of year market building up, just as we witnessed in 2015.
As ever, we'll concentrate our monthly review of the latest stats on the single-family detached market and there are many signs that sellers in this key … (1 comments)

inventory: Quarterly ABQ Area Stats Reaffirm Robust Real Estate Trends - 11/11/16 03:02 AM
Every few months, we like to review and contextualize the latest Greater Albuquerque Association of REALTORS® quarterly statistics for you, especially as they provide a wider perspective of market trends than month-to-month reports.
Once again, it's very pleasing to be able to tell you that the recently published third quarter figures reaffirm the general positivity we've been seeing all year.
A key highlight is that, in July, August and September, single-family detached home sales showed a year-on-year increase of 6.34%.
The average sale price of those homes rose by 3.32%, compared with the third quarter of 2015, to $228,271. Indeed, if we look back … (1 comments)

inventory: "Buy Don't Rent" - The Decision Is Getting Even Easier! - 10/25/16 07:23 AM

It would be fair to say that this blog hasn't exactly been reticent to extol the virtues of buying a home rather than renting.
At the end of last week, Trulia.com announced that buying a home is now on average 37.7% cheaper than renting, on a nationwide basis, for households who move every seven years and can afford to put 20% down.
In actual fact, this figure is only marginally up on last year, with rises in home prices across the nation somewhat offsetting the falls we've seen in mortgage rates. The fact remains, however, that there is still a powerful argument … (0 comments)

inventory: More Signs That Millennials Are Finally Buying Homes In Significant Numbers - 10/21/16 02:40 AM
We were intrigued to read an article on the Business Insider website earlier this week that provided yet more evidence that millennials (people born between 1977 and 2000) are finally purchasing their own homes in more significant numbers.
The article quotes Jeffrey Mezger, CEO of one of KB Homes, one of the nation's largest homebuilders. In a recent communication with shareholders he said: "Our results in the third quarter also reflect a continued upswing in demand, driven by rising household formation, favorable demographics, job and income growth and further easing of mortgage restrictions. We are seeing increasing activity emerge in the more … (1 comments)

inventory: Vacation Rentals - A Rising Opportunity for Albuquerque Property Investors - 10/18/16 07:51 AM
We were intrigued by a recent KOB4 article - see below - that focused on how Albuquerque is changing and adapting to accommodate more and more tourists.
With a great mix of affordable outdoor attractions, climate and a diverse cultural program, the area is already nationally recognized as a top summer and winter vacation destination and it looks like a trend that is only going to grow in the future.
Apart from mentioning the important fact that 3000 hotel rooms have been added since 2000, the article chiefly focuses on how accommodation rental sites like Airbnb have been instrumental in attracting more visitors.
With … (0 comments)

inventory: Will You Be Able To Count On Your Agent's Support in the Coming Weeks? - 10/14/16 06:44 AM
We've devoted quite a lot of space in recent blogs to the simple truth, despite the myths, that fall and winter are great times to sell your home and especially so at present with high buyer demand sustaining extremely well and still very low mortgage rates.
Would it therefore surprise you to learn that your agent may not share the same view?
In spite of there being somewhere around two million agents in this country, it's important to remember that by no means all of them are treating real estate as a full time occupation. You can understand that even better when you … (0 comments)

inventory: Newest Albuquerque Area Market Stats Show Significant Home Price Increases - 10/11/16 09:09 AM
The latest set of real estate market stats, just issued by the Greater Albuquerque Association of REALTORS® (GAAR), show exciting home price growth in September.
Compared with the same period last year, the median detached price rose 18.4 percent to $195,000, while the the average detached price grew by 2.7 percent to $227,898, building on good price growth throughout the late summer period.
Detached homes are now selling almost 17% quicker than in September 2015, with an average of just 49 days on the market. Days on market until sale figures are in fact at multi-year lows, with September seeing slightly quicker sales … (1 comments)

inventory: Five Reasons Why The Current Albuquerque Area Market Is So Good for Sellers - 10/04/16 09:27 AM
Sometimes it's easy to overlook just how great current real estate market conditions are in the Albuquerque area.
In so many ways, it's a win-win for sellers and buyers, thanks in no small measure, of course, to the continuance of low mortgage rates that, in spite of low inventory of available homes for sale, are creating tremendous urgency among buyers to lock-in a low rate, even if it sometimes means compromising a little on their selection of home, due to reduced choice.
For sellers, this is arguably one of the best times ever to list your home. Here's why:
Fabulous buyer sentiment - We've … (1 comments)

 
Manish Chanda Rainmaker large

Manish Chanda

Albuquerque, NM

More about me…

Address: Rio Rancho, NM, 87144

Office: 505-800-7150

Mobile: 505-200-1860

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog