Albuquerque, NM Real Estate News

By Manish Chanda
(Everest Peak, Inc.)
We naturally hope you're a regular follower of our blogs here. If you are, you'll probably have noticed that we've featured no less than two video blogs of great new listings in the area this week. If you missed them, please click here and here.At Everest Peak Realty, we have a consistent commitment to promoting listed homes with video tours. These are professionally filmed and edited in high definition and we then go a crucial stage further by writing an entire blog feature around them. It's a complete approach to home marketing that we believe cannot be beaten in and around Albuquerque.This is a key differentiator for our level of service to sellers and gets new listings off to a great start, with comprehensive exposure on this website and then across our multi-faceted social networki...
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By Manish Chanda
(Everest Peak, Inc.)
 One of life's few virtual certainties is that at some stage you're very likely to outgrow your first home.There can be a wide range of reasons for moving and, who knows, you may identify yourself in the following list of common signs that a change is in the air: -Job promotion/relocation - This is of course one of the most common reasons for upgrading. You've been promoted and your salary has improved to the point you are now capable of qualifying for a bigger mortgage. The home of your dreams may finally be a realistic prospect. Just make sure it's truly affordable for you.Relocation, on the other hand, may mean that you simply need to find a home similar to what you currently own but is nearer to the office/factory etc.As the US workforce becomes ever more mobile, these are trends we...
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By Manish Chanda
(Everest Peak, Inc.)
 In recent blogs, we've looked at the superb opportunities for investment property at the moment.Another great benefit you may not have considered is how renting out your property can improve your tax efficiency.Look at these examples of rental property expenses that can be tax deductible: Mortgage Interest Lawncare Insurance Many repairs Even some travel  You may well be surprised at how many associated costs of being a landlord can be legitimately defined as business expenditure.The bottom line here is that these kinds of deduction can improve your rental income. But that's not all, because there is a clear tax incentive in upgrading your property portfolio to make it even more desirable for renters, potentially driving up your rental levels. Property investment is very much a busines...
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In our last blog we argued that real estate is a better investment than gold and here's some more evidence that we mean exactly what we said.Let's say you put down 20% on a $100,000 rental property and the value goes up to $110,000. That works out to be a 50% return on investment (ROI). That's because your ROI is calculated on the value of the entire property, not just your downpayment. That kind of leverage is impressive on any level.Looking at in those terms, it's not hard to argue that property investment is still pretty much unmatched as maybe the best and most reliable way of watching your money grow.With property values steadily increasing in our area and interest rates remaining so low, it's entirely possible to see an instant ROI and don't forget that the currently expanding ren...
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By Manish Chanda
(Everest Peak, Inc.)
 Gold is generally perceived as a great hedge against inflation. Its value usually rises when the dollar goes down. But in order to make money you have to sell it.A real estate investment, on the other hand, can make money while you hold it and when you sell it. You can even borrow against it.That's why it's perfectly true to say that real estate is, in many respects, a better investment than gold. What's even more relevant at the moment is that property investment is arguably at a point where it has rarely been more attractive. Although still extremely realistic, prices are rising, which means that you are very likely to see a profit on your investment on the day you receive the keys.As we are often pointing out in this blog, if you need to borrow money for your investment, mortgage ra...
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 Start to do your homework on how to sell a home the right way and you will soon come across lots of advice about staging, or presenting, your home in its best light.What might be even more useful,however, is to know exactly what a positive difference this is likely to mean in financial terms. Well here goes...  Staging can result in 2% higher sold price. To put some figures on this, if you spent $500 on home improvements and upgrades on a home that sold for $300,000, you'd be looking at a $6000 return on your investment! Not bad at all.Some home sellers are strongly resistant to spending any more money on a home they are about to vacate, but the above example demonstrates the big gains that the savvy seller can obtain by investing in the sale, as it were.Don't forget, though, that stag...
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 Time flies by so quickly and we rarely get a chance to stop and think about how many things have changed in the past few years.Consider these contrasts with 1990:- A loaf of bread cost 67c. Now it's $2.22.- Gas was less than half of today's price back then.Sobering statistics, but some things really stack up well against what was the norm almost a quarter of a century ago.Mortgage interest rates are a case in point. Right now they are less than half of what they were in 1990, even though home prices have risen considerably since then. That means more of your dollar goes toward your equity.It would therefore be true to say that there has rarely, if ever, been a better time to invest in a home of your own.So far in 2016, mortgage interest rates have stayed near to historic lows, despite ...
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 One of the most recurrent theme in our blogs is the importance of realistically pricing your home "in the market".It's crucial to recognize that generic online home searching websites are not always accurate and up to date! Therefore the quoted price of your home may well be less, or even more, than the true market value.Unfortunately, when sellers reference this information, they often get an unrealistic vision of what their home is worth. Realtors, if they are doing their job properly, will often have a contrasting view of a home's true worth.This is because a quality realtor will study local markets on a day to day basis and know what the selling price is at all points in the market, from the most basic starter homes to luxury mansions.Sometimes, of course, this experienced appraisa...
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  One of the best pieces of advice we can offer any prospective home buyer is to obtain pre-approval for a home loan.Let's start off by clearing up the fundamental differences between two often commonly used terms that are often mistaken for one another - pre-qualification and pre-approval.Prequalification is the lender's best guessed estimate of what you can afford. Crucially however, it doesn't guarantee that you will obtain finance.Pre-approval, on the other hand, is a firm commitment from the lender based on your actual finances. Here are some key benefits it provides: -A better relationship with the sellerAlthough you might think the seller is the person doing the "selling", it's also true to say that you need to sell yourself to the seller. You'll stand a much better chance of bei...
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FIND ALBUQUERQUE AREA FORECLOSURE PROPERTIES HEREDid you know that almost a third of all investors are buying distressed properties? This may be an unsurprising statistic when you consider that short sales and foreclosures can present a fabulous opportunity to the savvy buyer.These types of sales can represent a real find, as homes very often sell for a considerably lower price than the current market value. This is counterbalanced by the time and bureaucracy involved in securing such a property, as there are usually more complex than normal factors affecting the viability of the sale from the seller's viewpoint.As always in life, there's no such thing as a free ride and it pays to have the patience of Job in these transactions. Red tape can sometimes mean it is many months before a sal...
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There are many key terms associated with real estate. One of the most common ones you will hear is inventory - but do you really understand what its relevance is to your home sale?Let's first of all define exactly what inventory means. Essentially, it is a snapshot of the amount of properties for sale, usually measured in terms of months. This figure is obtained by dividing the total number of houses for sale by the current rate of sales. For example if there are 500 houses for sale in a specific market and those homes are selling at a rate of 100 per month, there are five months of inventory.As will probably already be clear, inventory is a vital statistic for realtors and home sellers alike. It gives instant and incisive insight into how the market is fairing.It is this performance me...
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As an existing home owner you deserve full credit for your commitment to the American Dream and your recognition of fabulous long term investment potential and the peace of mind of having a place you can truly call your own.And yet, somehow, you are still not 100% happy.That's very possible because your current home lacks some of the features on your ideal house bucket list. Maybe it's a swimming pool, a huge garage for all your vehicles, a larger yard, horse property or something really basic like more bedrooms for your expanding family.There are, of course, a million and one motivations behind a desire to upscale.But whatever the reasons, here's the really great news - right now is a superb time to make a home move.Mortgage rates are still very low, meaning that you could quite concei...
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You want to buy a home. There's no question it makes sense as an excellent long term investment that's going to be far cheaper than renting. Yet you still harbor concerns over what hidden costs may lie ahead.Unexpected major repairs, such as total air conditioning failure at the height of summer, can indeed present a severe and unavoidable financial challenge - but there is a simple solution.Smart buyers can often negotiate to have a home warranty included at the seller's expense, taking the headache out of any future repairs and allowing them to relax and truly enjoy the overwhelming benefits of home ownership.There is an extremely wide selection of home warranty products on the market, offering different levels of coverage according to your needs. Indeed, even if your seller isn't abl...
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By Rich Cederberg, eXp Realty Agent Albuquerque
(eXp Realty)
It seems like everywhere you go now you hear the word "cloud" if you're a real estate agent. Cloud storage, Cloud CMA, and of course if you are with eXp Realty, Cloud Office is a term you hear everyday.What is a cloud office? It's the new and improved office of the future that's virtual and which exists in the cloud.I love the cloud office! It's so much better than the old brick and mortar office that I used to have. Here's a two minute video I made about working in eXp Realty's cloud office. Please watch! That explains some of the benefits of the cloud office, but if you really want to see what it looks like, check out this video:Do you remember life before scanners and electronic signing? I remember when fax machines were how we used to do business. I recall how I used to drive across...
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Pricing your home right is, as we have emphasized many times before, one of the most crucial aspects of successfully selling a home.Whether you're a buyer or a seller, it's very important to consider what makes the home you want to buy/sell stand out from the crowd, when evaluating its true market value.Remember that savvy buyers know it's wiser to focus on value over price. A home with a high-class feature specification throughout will naturally merit higher pricing than a similarly sized home without these benefits. A quiet, fashionable or well-served location may also factor into this mix. Buying such a home can save potential upgrading/moving in future. When you also factor in that a big difference in price can actually mean little difference in monthly payments over the life of a h...
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When setting out financial plans for your future, it makes huge sense to consider options that will allow you to earn passive income - in other words sources of regular personal income that require little effort to maintain them. This naturally becomes even more important as the retirement years loom even closer.If you're considering the development of a passive income stream, there's one really powerful essential truth you need to be considering.Whereas mortgage rates can remain fixed for the entire period of a home loan, rentals are subject to increase every year. This means that your monthly costs can remain the same while, over time, your passive income continually goes up.​Remember, too, that mortgage interest rates are still extremely attractive and at the moment they are actually...
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By Manish Chanda
(Everest Peak, Inc.)
As we have often demonstrated in these blogs, not all REALTORS® are cut from the same cloth and you really do need to closely examine what they can actually offer you in your home sale and/or purchase. Click here for a list of what a top class realtor will do for you.A recurring theme in our articles centers around the willingness of your realtor to go the extra mile for you, in an effort to ensure you achieve your property goals, whether you're looking for the perfect home or the ideal investment.For example, as a Keller Williams agent we have priority access to an elite group of agents who are presenting Albuquerque area properties in your price range.You may be very surprised to learn that these homes are often not even found in the multiple listing service (MLS). Work with us and we...
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 Since 2009, the average monthly mortgage principal and interest costs have fallen below average rental rates.Indeed the gap today is wider than it has been at any time in the past 22 years.This means it's probably a better time than ever to consider stop working so hard for your money and to begin making your money work for you by investing in property for rent.With mortgage rates remaining low and defying the predictions of seasoned financial experts, there's arguably not a moment to waste if you have your eye on starting or expanding your own portfolio.Whatever your ultimate investment goals may be, you simply cannot ignore the fact that home prices in the Albuquerque area are on the increase - see here - so you can reasonably expect to see your equity grow almost as soon as you purc...
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By Manish Chanda
(Everest Peak, Inc.)
With energy bills becoming even more expensive, the importance of energy efficiency has grown exponentially, as a key component of many home buyer's wish lists.​This is indeed part of a global trend. In Britain, for example, every home that comes onto the market is required to have its "carbon footprint" measured, as part of the UK's strategy of cutting carbon dioxide emissions.Although there are no signs of the same idea being adopted here, Americans are fast becoming more environmentally aware, especially in terms of how energy saving measures can significantly lower monthly household expenditures.The top three most requested green features buyers are now looking for are:- Double pane windows- Insulation- Efficient heating and cooling systems Clearly if you plan to update your home be...
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