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Albuquerque, NM Real Estate News

Readers of our recent blogs cannot fail to have noticed how upbeat we are about home selling conditions right now.With the continuance of very low mortgage rates, more closed sales and increased sale prices, plus low inventory in the Albuquerque area, reducing competition and increasing market visibility, it wouldn't be wide of the mark to suggest that this is about as good a situation as a seller could ever hope for.So why, you ask, has my home not sold if all these conditions are so favorable? Unfortunately, just because the market is in fine shape doesn't automatically mean that every home will sell.Today we'll look at some top reasons why this can happen.Over ambitious pricing - Although wonderful things are happening in the Albuquerque market, it is absolutely essential that your h...
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By Manish Chanda
(Everest Peak, Inc.)
For renters, however, the past few days have seen widespread press coverage of yet more doom and gloom, following the publication of a report from the Harvard Joint Centre for Housing Studies and Enterprise Community Partners.In "Projecting Trends in Severely Cost-Burdened Renters", the Centre predicts that the number of households that spend half or more of their income on rent is expected to rise by at least 11% from 11.8 million to 13.1 million by 2025!This is further bleak news for renters. Even today, about one in four renters already contributes more than 50% of household income for property rental purposes.Rents have continued to grow faster than incomes for the past 15 years. If you can possibly afford to buy, the benefits of doing so will very likely save you literally tens of ...
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So you've decided to sell your home on your own.For whatever reason, you don't want to pay commission to a professional real estate agent and are convinced that by word of mouth with family and friends around the neighborhood and maybe a couple of ads in the local Facebook blog shop, you'll be able to save some money.Talk about a false economy. DIY selling, for want of a better name, still goes on and maybe once in a while someone manages to sell their home by themselves. The odds, however, are most definitely stacked against that happening and for a few very good reasons.Today we'd like to tell you about some the of the typical problems you'll encounter by going solo:Your pricing may be way off - A pro agent will know area pricing as well as the back of his/her hand. There are a variet...
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By Manish Chanda
(Everest Peak, Inc.)
Wouldn't it be useful if you could understand what is most likely to turn off buyers when they view your home?Although the statistics are from Europe, via an online survey commissioned by British insurance company Go Compare, it's totally reasonable to assume that their findings are a series of universal truths, as applicable to us here in America as anywhere else.Let's look at the some of the most off putting aspects that would apply anywhere: -"Damp patches, stained walls and ceilings." - This was actually the #1 objection, with over 70% of those questioned identifying these problems as a turn off. OK, damp patches are unlikely to be a big problem here in New Mexico, but stained walls and ceilings most definitely can be an issue, especially if you are a smoker, or perhaps you have sta...
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By Manish Chanda
(Everest Peak, Inc.)
Looking through the online version of the Albuquerque Journal recently, we came across this very interesting article which tells readers to be sure to hire a full-time real estate agent.Although quite a short piece, as you'll read if you follow the above link, the article does contain some really good advice.In looking at it ourselves, we got to thinking how many people actually even know if their agent is engaged in real estate on a full-time basis?It's a fair question and, we suspect, one that buyers and sellers often fail to ask when interviewing agents to represent them.There are approximately two million licensed realtors in the USA. Yes, one in about 159 people is a realtor. That is an enormous figure, however it's very important to remember that a high percentage of that number i...
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By Manish Chanda
(Everest Peak, Inc.)
2015 will long be remembered as the year when the first time home buyer made a significant return.We've taken up considerable blogging mileage this year explaining the merits of getting on the housing ladder and while it would be overkill to revisit them all again so soon, what we would like to emphasize today is the importance of buying your home as early as possible in your adult life.While your retirement years seem so distant in your early to mid 20's, trust us when we say that they will approach much faster than you can ever imagine and, if you've just bought your first home, or are about to do so, you've actually made a really positive step to making that retirement a more comfortable, enjoyable and financially manageable experience, as you are more likely to be debt free earlier....
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However you slice it, the current Albuquerque area real estate market is trending positively in so many ways.We've recently spent a good deal of time explaining to both current and prospective homeowners what a great time it is to either upgrade or get on the ownership ladder.It's equally a superb opportunity to either start or grow a property investment portfolio and here are five key reasons why we say that:Prices are rising - Refer to our recent review of Albuquerque area market conditions and you'll note the healthy growth of average sale prices in recent months. While there is merit in buying property when prices are falling, getting ready for a good return when they start climbing again, buying now means there's an extremely good chance that the property will start to show an imme...
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We never tire of saying what a great time this is for buying a home. With mortgage rates still very low, plus other incentives such as low down payment home loans, it makes total sense to get on the housing ladder right now, before something changes.In reality, of course, and for a wide range of reasons, you simply may not be completely ready to take the big step and are now targeting the New Year for your first foray into home ownership.The good news is that there are things you can start to do now that will help you to achieve the very best outcome when the time is right for you to buy a home in 2016:Make sure your credit is in great shape - Unless you are one of the very few first time cash buyers, you will need to obtain a mortgage to finance the first home of your own. When the tim...
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By Manish Chanda
(Everest Peak, Inc.)
Hiring a Realtor for the critical job of selling your home is a really key decision. Get it wrong and there could be some serious consequences, in terms of a home remaining unsold for longer than you would like and/or not achieving its optimum price in whatever current market conditions happen to be.It would be very accurate to say that not all realtors are operating in an equal way. Not by a long measure.Your search for the right realtor for you will be considerably enhanced if you know exactly what you should be expecting your Realtor to do for you.At the very least, a professional Realtor must: -- Demonstrate absolute integrity.- Educate you about the current conditions of the market.- Analyze what you want and what you need in your next home.- Co-ordinate the work of other needed pr...
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By Rich Cederberg, eXp Realty Agent Albuquerque
(eXp Realty)
First time home buyers ask me this question all the time: should I buy a home in a Homeowners Association? Also known as an HOA, the answer to the question is a personal one because HOA's, like most things, have pros and cons. In this short video I talk about those pros and cons.How do you know if a home is an and HOA or not? Well, here in New Mexico it has to be disclosed before you purchase. You're supposed to receive HOA documents including the HOA resale disclosure at least 7 days before you go to close on your new home. The resale disclosure certificate gives you all the most relevant information about the association including the current monthly HOA fee. However, when you're browsing online looking for homes on sites like Zillow, you're not going to know if a neighborhood has an ...
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By John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me!
(Albuquerque Homes Realty)
Another Desert Ridge Place Home Now In Pending Contract   Enjoy the YouTube featuring a home in the Desert Ridge Place   This Desert Ridge home located at  8204 Moon Ridge NE Albuquerque NM 87122 is now pending contract with Albuquerque Homes Realty and Realtor John McCormack. Both buyers and sellers are looking forward to a smooth real estate transaction and closing taking place January 2016. Some of the homes in the quiet and gated community of Desert Ridge Place have amazing Sandia Mountains views.  Which is always a huge plus to many.  The homes are well maintained and the curb appeal is outstanding in this NE Albuquerque gated subdivision.     Desert Ridge Place NE Albuquerque 87122 is a great location to call home!  It’s located near many newer retail stores while being tucked out...
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By John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me!
(Albuquerque Homes Realty)
Happy Thanksgiving During this special time of year, Debbie and I are reminded just how grateful we are to have the blessings of family, friends and amazing customers just like you.  We look forward to gathering together and enjoying the bounty. We hope you too will take time to enjoy the blessings given to you. We are dedicated to providing personal and professional service for all of our clients. If we can be a real estate resource for you, we would welcome the opportunity to have a conversation with you.   Happy Thanksgiving and many blessings! John & Debbie McCormackJohn McCormackOwner~Broker~REALTOR®Albuquerque Homes Realtywww.AlbuquerqueHomes.com Direct 505-980-4576John@AlbuquerqueHomes.com  
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By Myers & Myers Real Estate, Your Trusted Real Estate Advisors
(Myers & Myers Real Estate)
Albuquerque Real Estate Investor Investment CalculationsAlbuquerque real estate investors must know their numbers before making an offer on an investment property.  Successful Albuquerque real estate investors buy properties based on sound financial principles and not on emotions.  I have provided the following formulas to help you understand some of the key financial calculations necessary to create wealth for Albuquerque real estate investors.  The following formulas are critical if you are purchasing an Albuquerque real estate investment property to be used as an income-producing property.  I will help you with these calculations if you are interested in purchasing an investment property using my services.Gross Operating Income (GOI)Gross operating income is a calculation of the tota...
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By John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me!
(Albuquerque Homes Realty)
 What happens when you don't service your swamp cooler (evaporative cooler) for the fall/winter months here in New Mexico and the Albuquerque area?  Chaos, Mayhem and possibly some major expenses.  Here is a true account of what can happen with you don’t property winterized you're Albuquerque swamp cooler. If you live in New Mexico or in the Southwest for that matter you are likely familiar with evaporative or (swamp coolers)  some love em some hate them.  Refrigerated A/C has gradually become the choice for air conditioning here in many Albuquerque homes, however a majority are still swamp coolers.  The system works when cool tap water is delivered into a reservoir pan then pumped through delivery pipes called a spider to ultimately soak the cooler pads (assorted products/material serv...
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By Kat Palmiotti, Helping your Montana dreams take root
(eXp Commercial, Referral Divison)
An estate sale will be held at 5715 Crown Ridge Rd NW in Albuquerque, NM, starting at 10am on Thursday, October 1st and running through October 3rd. The sale is 10am - 3pm each day and with the exception of appliances and window treatments, everything in the house is for sale! Items include all furniture: bedroom set, multiple book shelves, rolltop desk, office desks, file cabinets, grandfather clock, dining room table with six chairs, kitchen table and chairs, sofas, futon, office chairs, arm chairs and more. Also included are all kitchen items such as: coffee mugs, silverware (both silver and every day utensils), dinnerware, cookware, baking sheets, cookbooks, and all the usual kitchen tools. In terms of somewhat unique items, the lady of the house was a huge craft lover. The sale inc...
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By John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me!
(Albuquerque Homes Realty)
A Banana Split At Route 66 Diner In Albuquerque  There’s more than one way to get your kicks on Route 66.  Check out the ‘huge’ banana split we enjoyed at the Famous Route 66 Diner last week.  Oh yes, we ate the entire thing! The Route 66 Diner has been featured on Food Channel and is known to locals as the place to go for a blue plate special, great burger or a great dessert.   The video below tells the real tale….. Enjoy!   
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By John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me!
(Albuquerque Homes Realty)
Can You Buy A Story Rock Home in NW Albuquerque 87120For Under $250,000 Story Rock Home on YouTube  Have you been asking yourself if you can buy a Story Rock home in NW Albuquerque 87120 for under $250,000?  The easy answer is yes you sure can!  Albuquerque Homes Realty recently listed and sold this beautiful and spacious Story Rock subdivision home for under $250,000.  This beautiful home located in the Story Rock neighborhood of NW Albuquerque NM 87120 was beautifully maintained, updated and loved.  This 4 Bedroom Story Rock home quickly caught the eye of the perfect buyers. On the first day of listing this Story Rock home information and details were spread through social media outlets, major real estate portals and, of course, featured at www.AlbuquerqueHomes.com.   One of the many ...
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By John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me!
(Albuquerque Homes Realty)
Enter To Win The 2015 Albuquerque Balloon Fiesta Sweepstakes   Are you interested in winning the 2015 Albuquerque Balloon Fiesta Sweepstakes valued at $2,612?  If so simply enter to win! Someone has to win…..Right? Enter to Win Online Here The winner of the 2015 Albuquerque Balloon Fiesta Sweepstakes will win a $200 Visa Card to be used towards your flight, gas or shopping spree.  The winner will also win a free three - night stay at the Marriott Pyramid North in Albuquerque.  A free hot air balloon ride with Rainbow Ryders.  Debbie and I have taken a private flight with them and it’s an adventure of a lifetime!  But wait there is more!  How about two free Official Balloon Fiesta Jackets and three-day VIP access to the Gondola Club Hospitality Suite.  The winner of the 2015 Albuquerque ...
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By John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me!
(Albuquerque Homes Realty)
Can I Buy A Custom Home In The Foothills NE Albuquerque 87112 For Under $300,000?  Can you buy a custom home in the Foothills in NE Albuquerque 87112 for under $300,000?  YES, indeed you can!  Albuquerque Homes Realty and Realtor John McCormack recently brought the buyers to this custom home in the Albuquerque Foothills located at 12800 Thomte Rd NE Albuquerque NM 87112.   These out of state buyers had done their homework on the layout of Albuquerque and knew they wanted to live in the highly desired Foothills area of NE Albuquerque.  If they could find the perfect custom home in the Foothills it would be the icing on the Albuquerque real estate cake.  As they explored homes they appreciated the fact of living so near shopping, dining, medical and main arteries such as Tramway, I-40, Mo...
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By John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me!
(Albuquerque Homes Realty)
Can I Buy A Townhome in Albuquerque Far NE Heights 87111 For Under $250,000   Have you been wondering if you can buy a Townhome in Albuquerque NE Heights 87111 for under $250,000?  If so the answer is positive YES!  The proof is in Albuquerque Homes Realty and Realtor John McCormack bringing the buyer and closing on this Far NE Heights Townhome located at 10410 Casador Del Oso NE Albuquerque NM 87111. Living in a Far NE Heights Townhome brings the luxury of being near shopping, dining, medical, recreational and quick access to the main arteries of Spain and Juan Tabo.  Many Far NE Heights Townhomes offer great views of both the Sandia Mountain sunrises and or the West Mesa sunsets.   The (APS) Albuquerque Public Schools in this highly desirable Townhome area of Albuquerque are Elementar...
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