everest peak realty: New Albuquerque Area Market Stats Demonstrate Healthy Year-on-Year Growth
- 08/12/16 04:38 AM
Figures just released by the Greater Albuquerque Association of REALTORS® (GAAR) should make for very good reading for anyone currently selling their home, or contemplating doing so. These stats contain good news in several key categories. The median price of a detached home rose by 3.2% ($189,900) in comparison with July 2015, while the average detached price showed a year-on-year increase of 6.8% ($226,192). On average, a detached home sells faster by a fifth of the time compared with the previous July. It now takes an average of 48 days to sell such a home. Pending sales, a good indicator of August performance, showed … (1 comments)
everest peak realty: Home Buying Sentiment Reaches a New High - Are You Ready to take Advantage?
- 08/09/16 08:55 AM
There's been some interesting news already this week from The Federal National Mortgage Association (FNMA), better known as Fannie Mae, the government sponsored, leading source of financing for mortgage lenders. Fannie Mae reports that its Home Purchase Sentiment Index rose by 3.3 points in July to 86.5. This an all-time survey high, indicating a very positive outlook for the housing market nationwide. The Index comprises a number of components, one of which is a the number of consumers who would buy if they were to move house. This figure rose to 67%, with a 26% fall in those who said they would rent … (0 comments)
everest peak realty: Top Tips on Avoiding First Time Buyer Remorse
- 08/05/16 10:41 AM
Let's face it, the time you're going to learn the most about the house purchasing process is when you first buy. It's been said that one in five first time homeowners experience some sort of regret after the deal has closed. We thought it would be a good idea to provide some tips on eliminating some of the most common forms of buyer remorse after the purchase is completed: Do your sums - There are a number of potential areas of regret related to the purchase price of the home, including wishing you'd negotiated better, feeling you paid too much or that you should … (2 comments)
everest peak realty: Video Tour: 4984 Night Hawk Dr NE, Rio Rancho, NM 87144
- 08/02/16 02:48 PM
It would be fair to say that not all houses are equal when it comes to how well space can be utilized. At 4984 Night Hawk DR NE in Rio Rancho, however, here's an exceptionally well located residence with a lot of functional space in this 2,424 sq.ft. home, thanks to a particularly well-conceived and very open floor plan with great natural lighting levels. Nicely positioned for convenient and easy access to the highway, shopping, parks and schools, this is a 4 bedroom, 2.5 bathroom, 3 car garage home that offers a very versatile canvas for the new owners to make their … (4 comments)
everest peak realty: What a Great Time to Buy A Home - But Are You Ready To Take The Plunge?
- 07/29/16 07:05 AM
The recently published, and widely publicized, Zillow Real Estate Market Report for June, certainly paints a great picture of a very, very hot market all over the country, and we're not talking about the sizzling temperatures. Consider, for instance that homes are closing faster at the moment than at any time in the past six years. The national average for the time it takes to market and finalize the sale of a home is now just 78 days, including the selling time. It should be noted that the Albuquerque market is probably either matching or doing slightly better than this. Consider that, … (0 comments)
everest peak realty: Quarterly Home Sales Review Demonstrates Albuquerque Selling Opportunities
- 07/23/16 04:07 PM
The Greater Albuquerque Association of REALTORS® (GAAR) has just released its review of the second quarter of 2016. Quarterly reports are always interesting to study, as they tend to point to more sustainable trends than month-to-month statistics. Compared to the second quarter of 2015, single-family detached home sales increased by 9.19% and the average sale price in this category is also making very good progress with a 4.26% year on year rise. In real price terms, that translates to an average sale price of $228,003, which is quite a leap from the 2016 first quarter figure of $216,222 - a great demonstration of the … (0 comments)
everest peak realty: What Do Sellers Look For In Buyers?
- 07/19/16 04:21 AM
We'd be the first to admit that, at first glance, the title of today's blog may seem to be the wrong way round, but stay with us a minute on this. While it's obviously the case that the sellers and their agents have to, well, sell their home to you in the first place, once the time comes to make an offer then the buyers do need to consider how attractive a prospect doing business with them appears to be. Right now this thought is more relevant than any time in the past decade or so. High demand for a relatively low supply … (0 comments)
With such a vibrant homes market in the Albuquerque area at present, there is a temptation for sellers to assume that delaying listing their property could lead to even better returns on the sale in the future, especially if they have the luxury of being able to wait. Such decisions to procrastinate are, of course, ultimately always a judgement call. They are also something of a gamble, given how quickly things can change in the real estate, both positively and negatively. Today we'd like to suggest five key factors that help to explain why playing a waiting game may carry quite a lot … (1 comments)
everest peak realty: Home Price Appreciation - How New Mexico is Doing on a National Scale
- 07/12/16 06:20 AM
Yesterday's widely publicized Mortgage Monitor Report by Black Knight Financial Services revealed a number of significant statistics about the national picture on the housing market, as well as some data on price appreciation that's of particular interest to New Mexico residents. The report stated that no less than 425,000 borrowers moved out of negative equity in the first quarter of this year. This means that the national rate for negative equity is now down to just 5.6% (2.8 million borrowers), compared with 29% at the close of 2012. In just a year, the number of borrowers in negative equity has fallen by … (2 comments)
everest peak realty: Five Winning Strategies for a Quick Home Sale at the Best Price
- 07/08/16 07:45 AM
It's the ideal all home sellers hope for - a fast, trouble-free sale with the best financial return. In truth, with buyer sentiment arguably at an all-time high just now, that goal is certainly easier to achieve than it might have been a few years back. But this doesn't mean that there is any room for complacency in your plans to execute an optimized sale of your property. Today we'd like to suggest some great ways of ensuring nothing is left to chance: Is your home truly ready for sale? - Surely the right time to sell is when you want to sell? Well … (0 comments)
everest peak realty: Successful Home Selling in Mid-Summer
- 07/07/16 12:14 PM
With such a buoyant homes market right now, you might be forgiven for thinking that selling property is pretty much plain sailing these days. While there's no question that buyers are practically waiting in line for the right home, given the low cost of home loans and the present low levels of available inventory in our area, you still need to pay meticulous attention to details to maximize your return on the sale. Now we're at the height of summer, here are a few suggestions of things you can do that buyers will especially appreciate at this time: Air conditioning - If your air … (3 comments)
everest peak realty: Mortgage Rates Now At The Best Levels In Years - Seize the Moment!
- 07/03/16 05:28 PM
It would be totally remiss of us if our blog theme today was anything other than mortgage rates. They are now at their lowest levels in years, with average 30 year interest rates dipping below 3.60%. They have dropped by around a quarter point in just five weeks. One of the main factors in this incredibly good news for home buyers and, by implication, sellers too, was last week's British vote to exit the European Union - the so called Brexit. Largely unexpected, Brexit has caused a tidal wave of uncertainty in global financial markets. Although Britain has yet to begin formal proceedings … (0 comments)
everest peak realty: Five Great Tips For Successful Home Buying When There is Low Inventory
- 06/24/16 08:00 AM
Our recent blogs have often touched on what a great market it is at the moment, for both buyers and sellers. In fact the only really significant chink in the armor at present is the continuance of low supply of available homes. While it creates fabulous, low-competition/price-resilience opportunities for sellers, low inventory is clearly not such good news for buyers, who very simply have less choice. Some buyers may be tempted to sit on the fence until more homes become available. There is, however, no way of knowing when this will happen and, perhaps of even more importance, there is always the risk that … (0 comments)
everest peak realty: The Critical Importance of Ensuring Your Home Is Correctly Priced
- 06/21/16 07:30 AM
While it is great to be able to consistently report how well the local real estate market is fairing, it's also true to say that correct pricing of your home is still a critical element in the selling process. Although fast sales and multiple offers are much more commonplace these days, and even as inventory of available homes for sale struggles to keep pace with current very high demand, it's still very still possible to price your home above true market value, with serious consequences. Unfortunately, it's so simple to get a false impression of what your home might be worth and the … (0 comments)
everest peak realty: Is This The Best Time Ever To Get On The Home Ownership Ladder?
- 06/17/16 05:09 AM
If you're contemplating buying your first home, there were two significant events affecting you positively this week. Yesterday there were widespread reports that mortgage rates had plummeted to three-year lows. This very welcome news followed the Federal Reserve's decision on Wednesday not to raise short term interest rates and lowering its projection of how much they'll be raised in the coming years. While these rates don't necessarily have any direct effect on home loan rates, they do affect the cost of other borrowing, including credit cards. There is still talk that mortgage rates could fall yet further but, even at the current already ultra-low … (0 comments)
everest peak realty: A Real Estate SWOT Analysis at the Halfway Mark in 2016
- 06/15/16 04:33 AM
We're now almost exactly at the halfway mark in 2016. It therefore seems a good time to look ahead at prospects for the second half of the year and we thought a good way of assessing future possibilities would be to carry out a SWOT, or Strengths, Weaknesses, Opportunities and Threats analysis, based on what we've seen in the first six months of the year. Strengths - With the news at the end of last week that they are now nearing multi-year lows, mortgage rates continue to be one of the main motivations for buyers. While there's no guarantee of the very welcome … (1 comments)
Figures released this afternoon by the Greater Albuquerque Association of REALTORS® (GAAR) demonstrate an increasingly healthy homes market in our area. These latest statistics, reflecting on performance in the area last month, show the growing strength in the market as we approach the halfway mark in 2016, as the peak selling period continues. Yet again, there was a very robust year on year rise in both detached average sales price (4.69%) and median sales price (6.63%). Overall detached sales volume rose 14.05% in the 12 months leading up to the end of May. With the news this week that mortgage rates are … (1 comments)
everest peak realty: The Rise of Single Women Home Buyers
- 06/09/16 02:36 AM
Embedded from MGIC Connects Did you know that single women are now the second largest group of home buyers in the nation? According to the above very recent infographic by Mortgage Guaranty Insurance Corporation (MGIC), while married couples represent 54% of all American home buyers, single women are the next most active sector at 18%. This puts them in front of unmarried couples (15%) and single men (11%). The infographic makes for interesting reading. Women are now outpacing men in higher education participation and success. 45% of women between 18 and 24 are enrolled in college, as opposed to 37% of men. Between the … (1 comments)
everest peak realty: Which Way Now For Mortgage Rates?
- 06/09/16 02:32 AM
We are, unbelievably, almost at the half way mark in 2016 and we're still enjoying ultra low mortgage rates. This week, following disappointing job data, in particular, rates fell to very near the best levels we have seen all year. The background story to what's happened to rates this week is bound to increase speculation on their future direction, as there are now a number of variables in play that could see them drop even further. Today's news that job creation remains weak, despite a low unemployment rate of 4.7%, will do nothing for the confidence of investors. May saw the lowest level of … (0 comments)
everest peak realty: Under the Microscope - 10 Things Buyers Look For When Viewing A Home
- 05/31/16 09:52 AM
When selling anything, it's a great idea to really know how your customer is thinking. Real estate is definitely a field where buyers invariably have extremely strong opinions about what they like, and don't like, about a home. It therefore makes total sense to consider some of the key aspects that buyers will focus on when they are viewing a property: Condition - Clearly, the physical condition of the home, especially that first impression on the driveway, goes a long way to setting the tone for the whole viewing. The trick here is to simply leave nothing to chance, with a thoroughly well … (0 comments)
Figures just released by the Greater Albuquerque Association of REALTORS® (GAAR) should make for very good reading for anyone currently selling their home, or contemplating doing so.
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