You might be tempted to save some money by trying to sell your home yourself. What you might not appreciate is that this approach is fraught with serious risks, including your home remaining unsold or selling for significantly less than true market value. Perhaps the most startling statistic to consider is that almost one third of all home sales come from real estate agent to real estate agent contact or past referrals. The simple math is that by not partnering up with an experienced Realtor®, you've already reduced the likelihood of selling your home by over 30%. But it really doesn't end … (0 comments)
It is nothing more than common sense that the better your home looks to prospective buyers, the more likely they are to want to make you the right offer. Curb appeal is an absolutely vital element of home presentation and staging. It's true to say that it sets the scene for the rest of a viewing 100% of the time. The condition of your external decor needs close examination if your goal is to maximize the selling price your home will achieve. Simple steps like revitalising wood surfaces, paintwork and attention to detail in every aspect of how the home looks to the … (1 comments)
What if you could hire someone to protect your interests at no cost to you? You can do just that by engaging a buyer's agent in your house search. That's because the selling, or listing, agent splits his/her sales commission on a property with the buyer's agent, thus providing you with a completely free service! Perhaps surprisingly, then, not everyone hires a buyer's agent and this is widely viewed by real estate experts as an unwise decision. To explain why this is so, consider some of the other key advantages of this approach: Access to current and past price data for the area in which … (0 comments)
home: A Golden Opportunity for Albuquerque Area Home Sellers
- 02/23/16 07:11 AM
While the Albuquerque real estate scene is predominantly full of good news these days, one aspect never seems to improve and steadily worsens - low inventory of available homes for sale. For sellers who are on the market in times of such short supply, this represents a truly golden opportunity. Less choice means that buyers may be forced to pay more for a home and concerns over ever reducing supply of homes in the area means they are also more likely to make a fast purchasing decision. This increasingly results in the home seller's utopia of multiple offers being received, often above asking … (1 comments)
home: Video Blogging Is Such A Powerful Home Selling Tool
- 02/19/16 07:36 AM
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 … (0 comments)
This 3 bedroom, 2 bath 1850 sq.ft. home in the Las Lomitas community has been beautifully renovated, oozing quality throughout its very attractive open floor plan. Indeed, what immediately strikes you about the generous spaces and room flow here is that it offers the kind of open living concept that will make it an entertainers's paradise, should the fortunate new owners so desire. The renovations at 8114 Camino Paisano are of superior quality, with wonderful additions like new wood flooring and tiling throughout. Upgraded countertops, custom cabinetry and new appliances in the well appointed kitchen reinforce the entertainment possibilities of this very well located … (3 comments)
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 … (0 comments)
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 … (0 comments)
home: Getting Great Leverage from Rental Property in the Albuquerque Area
- 02/16/16 09:08 AM
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 … (0 comments)
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 … (2 comments)
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 … (0 comments)
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 … (0 comments)
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 … (0 comments)
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 seller Although you might think the seller is the person … (1 comments)
17 Ursula Drive, Belen is a spaciously designed home that will offer extraordinary levels of flexibility for its lucky new owners. The 1748 sq.ft, two-wing home on a fenced lot with a chain link yard enjoys superb road network access, yet is located in a quiet neighborhood with low traffic. The two wings are divided by a spacious three car garage with electric openers. The main North apartment is on the right side of the property. The South apartment is a wheelchair accessible in-law/guest quarters, itself offering a very independent living arrangement with its own private entrance, kitchen, laundry and … (2 comments)
home: Buying Albuquerque Area Distressed Properties The Easy Way
- 02/12/16 04:32 AM
FIND ALBUQUERQUE AREA FORECLOSURE PROPERTIES HERE Did 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 … (0 comments)
home: Latest Albuquerque Area Real Estate Statistics Confirm Great Start to 2016
- 02/10/16 08:28 AM
Figures published today by the Greater Albuquerque Association of Realtors (GAAR) show just what a great start to the year our area real estate market has made! 594 homes were sold in the Albuquerque metro area in January, a 10.61% increase on the same month last year. While pending listings were 6.67% up on the previous January, pending detached listings were actually up by over a third on December, demonstrating just how many sales are coming through the pipeline, as buyers acknowledge the amazing current market conditions that have seen mortgage rate falls for five straight weeks now. January also saw some significant improvements … (0 comments)
home: The Relevance of Inventory to Your Albuquerque Area Home Sale
- 02/08/16 04:11 AM
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 … (1 comments)
home: Why Now Is A Great Time To Move Upscale in the Albuquerque Area
- 02/08/16 04:06 AM
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 … (0 comments)
home: Home Warranties - A Great Option for Albuquerque Area Buyers - and Sellers!
- 02/08/16 04:00 AM
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 … (0 comments)
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