house: A Change of Agent for 2017? - 12/06/16 05:44 PM

We're already at that point in the year when we often begin to take stock of our situation and start to formulate our plans for the New Year that's fast approaching.
If your home has been on the market for some time and has yet to sell, it could well be that you'll be reviewing the performance of your appointed agent in the coming days. Indeed, we would thoroughly recommend you doing so if you hadn't already thought of it yet.
With such a lively homes market this fall, very motivated buyers and the continuing shortage of available homes for sale in … (2 comments)

house: 10 Holiday Gift Ideas for Your Home To Help It To Sell in 2017 - 12/02/16 04:05 PM
We can hardly believe it either, but there are just 23 days left until December 25th.
As often happens, you may be struggling to think of gift ideas, but have you thought that your house could maybe also do with some TLC at this time?
This is especially true if you're planning to sell in the New Year.
We've put our santa thinking caps on to come up with 10 gift ideas for your home that will really help when you show it.
New faucets - Tired looking, leaky faucets are often a source of concern when buyers visit a home. It's said that for … (1 comments)

house: 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)

house: 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)

house: Reasons to be thankful in the Albuquerque Area - 11/22/16 04:36 PM
The Thanksgiving holiday is almost upon us and we couldn't help but be inspired by a recent feature on Albuquerque at
The article called "38 Tips on Moving to Albuquerque, NM: Relocation Guide." highlights the good, and not so positive, aspects of living in the city, which any guide worth its salt should do, of course. Overwhelmingly, however, ABQ comes over as the wonderful place we already know it to be.
All this has caused us to pause and be thankful at this time for so many great aspects of living in this area:
- What a way view the world! - the … (0 comments)

house: 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)

house: Mortgage Rates - Time Once Again For Some Perspective - 11/15/16 07:15 AM
In retrospect, it was perhaps inevitable that financial markets would react to the election result last week, regardless of who won.
After an immediate downward reaction to the result, stock markets quickly rallied, which caused bonds, a safe-haven investment when stocks are unattractive, to suddenly become less appealing.
A side-effect has been for mortgage rates, which are closely linked to the demand for bonds, to rise in the past few days.
Of course we cannot, and should not, pretend that this is anything but unwelcome news if you're currently buying a home. However, it is perhaps a good time for us all to pause, … (0 comments)

house: 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)

house: The Amazing Comeback of Home Equity - 10/28/16 06:54 AM
Many homeowners will remember the pain caused by The Great Recession years, not least the dramatic effect it often had on the home equity they had built-up.
How great, then, to be able to report that home equity has been making a stunning comeback over the past few years of recovery.
According to a recent national study by Corelogic, home equity more than doubled between June 2011 and June of this year.
Measuring home values against mortgage debt, total home equity across the nation stood at $6.1 trillion in June of 2011. By the same month this year, it had risen to $12.7 trillion.
What … (1 comments)

house: How to Avoid Home Price Self-Delusion - 09/30/16 03:14 AM

If your home isn't selling, there could of course be a wide range of reasons for this. But in such a buoyant market as the one we're currently enjoying, it's a good bet that your lack of success could well be because your asking price is too high.
One of the key skills of a top performing real estate agent is the knowledge and experience to be able to suggest an asking price that will simultaneously appeal to buyers and also maximize the return for the seller.
Needless to say, this is a delicate balancing act.
Unfortunately, some sellers will be disappointed/annoyed to discover … (0 comments)

house: Trended Credit Data Is Finally Here - Here's What It Means - 09/28/16 08:01 AM
Last weekend marked a significant moment in mortgage finance history as the new, so-called "trended" credit data was launched.
We initially looked at trended credit data back in May. However, its planned introduction date of June 25th was postponed until last weekend, so we can now finally look forward to seeing the anticipated positive effect it will have on the mortgage market.
To re-cap, trended credit data is a new, more in-depth, method of compiling credit reports on home loan applicants.
It has been introduced by Fannie Mae, the government-sponsored, leading source of financing for mortgage lenders.
The key difference in trended credit data is … (0 comments)

house: Why Facebook's Arrival Should Be A Big Win for Home Owners - 09/27/16 03:25 AM

When New Mexico's 2016 history book is written, it's a fair bet that one of the main headlines will be Facebook's recent decision to create a major $1.8 billion new data center in Los Lunas.
It's actually difficult to overstate the tremendous ripple effect that Facebook's arrival in New Mexico could have on our economy.
The Village of Los Lunas is, of course, the biggest winner, but there is hope that an infrastructure will build up around the new Facebook facility, offering even wider benefits to the entire Albuquerque metropolitan area and further afield.
And, without question, local home owners are likely … (0 comments)

house: Your Fall Home Maintenance Checklist - 09/27/16 02:56 AM
Thursday will be the first official day of Fall, so we thought now would be a great time to offer some useful tips to help you prepare your home for the changing weather conditions and temperatures we'll be seeing in the coming weeks.
Roofs - A pair of binoculars is invaluable when it comes to making an inspection of the general condition of your roof. You should look for obvious signs of missing shingles/tiles, cracks or other damage, as well as the integrity of flashings around vents, chimneys etc. Remember that even very, very minor leakages or damage can be utterly catastrophic … (5 comments)

house: Why Pre-Approval For A Mortgage Is Even More Important Right Now - 09/16/16 07:25 AM

If, as a prospective house buyer, you were to ask us what's the single best piece of advice we could give you right now, we'd not hesitate to say: "get pre-approved for your mortgage".
In fact, with low inventory of available homes for sale this has become an even more important pre-requisite.
To explain why we say this, imagine for a moment that you are selling a home in the Albuquerque area right now. You're in a great position, because there are many buyers chasing a slimming number of available homes. Indeed it's quite possible that you'll receive multiple offers for your home, … (0 comments)

house: Latest Albuquerque Area Real Estate Stats Show Summer Ending On A High Note - 09/14/16 03:37 AM

It's good to be able to report that recently released Greater Albuquerque Association of REALTORS® statistics for August point towards a very lively end to the summer in the area.
Apart from continuing concerns over the level of inventory of available homes for sale, which we'll return to later, there were positive indicators right across the most important statistical categories for detached homes.
In line with trends we've been seeing all year, median detached home prices were up by 1.6% ($190,000) on the same period last year, while average prices rose by exactly the same amount ($226,422).
A detached home took just 51 days … (0 comments)

house: Why Low Inventory Is A Even Better Opportunity For Sellers Right Now - 09/12/16 01:53 AM
Low inventory of available homes for sale continues to be a major factor in the Albuquerque area. Despite a couple of slightly encouraging signs during this year to date, in general the trend has been getting worse.
The truth is, of course, that a shortage of homes is a mixture of good and bad news, depending on which end of the real estate kaleidoscope your looking through.
For buyers, it does mean less choice at any given price point and, quite possibly, some difficulty in finding exactly the right specification of home. That said, however, buyer sentiment continues to be amazing, with a … (0 comments)

house: Adopting the Right Mindset to Sell Your Home this Fall - 09/06/16 07:17 AM

First of all we hope everyone had a great holiday weekend.
Now we're on the other side of the Labor Day break, thoughts are increasingly turning to the fall, which is officially just over two weeks ahead of us now (September 22nd).
Rather than wait for it to arrive, we thought we'd set the scene for those considering selling in the next few weeks.
Our message is very simple - don't let the end of summer put you off listing. It is a complete myth that homes stop selling when the peak summer season ends.
If you adopt the right mindset, you'll be … (0 comments)

house: Five Thoughts for Would-Be Home Sellers On Labor Day Weekend - 09/04/16 03:21 AM
The Labor Day weekend is, of course, something of a watershed in the annual calendar.
Leading into the weekend, it still feels very much like summer and then, with college football getting under way this weekend and all the other traditions of this much anticipated holiday, we'll suddenly wake up on Tuesday morning with thoughts of the fall, the holidays and year end somehow much closer.
If you're undecided about whether or not to sell your home right now, it would be reasonable to assume that, with a bit more time on your hands in the coming days, you'll quite possibly be making … (0 comments)

house: What Do First Time Buyers Look For In A Home? - 09/01/16 12:44 AM
In last Friday's blog, we looked at new statistics that revealed that 53% of all home sales in 2016 have been to first time buyers.
This is, of course, a fact that simply cannot be ignored by any seller whose home might attract those looking to get on the home ownership ladder.
It might therefore be instructive to consider some of the questions that will be foremost in the first time buyer's mind, so that you can prepare your home for sale accordingly:
Running costs? - Most people who have bought a home for the first time will know that it can be quite … (2 comments)

house: First Time Home Buyers Are Now Making A Big Impact! - 08/27/16 11:12 AM

It now appears that the first time buyer is making a huge comeback this year after all.
According to recent survey information revealed by Zillow, 53% of all buyer sales in 2016 have been to first time buyers!
And in spite of well-publicized recent concerns to the contrary, millennials are featuring strongly in this purchasing pool.
These stats were further reinforced earlier this week when the latest figures for new home starts, traditionally a stronghold for the first time buyer, showed a multi-year high in July, and quite a significant hike on the rest of 2016 to date!
And with news today that … (0 comments)

Manish Chanda (Everest Peak, Inc.)

Manish Chanda

Albuquerque, NM

More about me…

Everest Peak, Inc.

Address: 4801 LANG AVE NE, STE 110, ALBUQUERQUE, New Mexico, 87109

Office: 505-800-7150

Mobile: 505-750-0304




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