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Approaching the Current Housing Market

Wednesday, May 8, 2013

by Sandi Pressley

Good Monday Morning!

As the national and local Real Estate markets continue to heat up, it would be wise to approach the current housing market with a degree of caution. Yes, it is exciting that homes are once again beginning to sell in the Albuquerque and Rio Rancho market areas! Is it just like the old times again? Well, maybe not. In fact we most likely will never see the old times again.

What we all need to remember is that the current upsurge in the housing market and in home values is not based on a true economic recovery. Most of the improvement in the housing market is based on current low mortgage interest rates that are being artificially created by the feds. We can all hope that both the national and local economies will rebound significantly because the low rates won't last forever. When interest rates begin to rise, look out. Will the current bubble burst? This is going to be dependent upon the condition of the economy and also on how sharp the increase in mortgage rates is. It could happen quickly though and we could slide back into a strong buyers’ market at the drop of a hat.

We most likely will see a continuation of low rates for the foreseeable future, but the best bet is to take action now if you are considering a home purchase. One thing that history has proved to us is that the market we have today won't be the market that we have a year from now.

Have An Awesome Week!

SANDI'S LATEST HOT HOME LISTING!

13139 Blackstone Rd NE

Price: $450,000

Beds: 5

Baths: 2.5

Sq Ft: 4,028

Gorgeous custom brick home on almost 1/3 acre lot, lovingly cared for. Two+ living spaces provide plenty of room for entertaining & privacy. Delightful kitchen w/Thermador stove, custom cabinets & sunny breakfast nook. Master retreat w/2-way fireplace, jet tub, separate shower & view balcony. Huge Rec room in finished basement & sauna! Many architectural details include vaulted ceilings, clerestory windows, arched doorways & skylights. Parklike yards w/pond, water fall + established landscaping.

View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Sandi

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It is Still a Great Time to Purchase a Home

Tuesday, April 2, 2013

by Sandi Pressley

Good Tuesday Morning!

Yes, the market is heating up and the inventory of homes available for purchase has decreased significantly over the past six months. In fact, homes that are in great condition and priced well don't stay on the market long. The Albuquerque and Rio Rancho market area is even seeing multiple offers again. It is still a great time to purchase a home. Mortgage interest rates remain at historic low levels and home prices have not increased significantly, although this is on the horizon if current market conditions continue.

If you're a home buyer, among the things you can do to be prepared is to have a plan of action. If you're an aggressive buyer eager to find a home, hire a real estate agent that can help you find what you're looking for and will act quickly when properties hit the market.

When a home is first listed it will get the most attention. In a hot real estate market that could mean not just viewings but multiple offers and even offers that are over the listing price (not something we're used to thinking about lately, but that's the nature of real estate - it cycles through ups and downs).

So, if you're really serious about finding a home in a market where the inventory has dropped and the prices have increased, be prepared to take action the minute homes come on the market. Don't delay and say, "I'll drop by this weekend when I get a free moment." In some of today's markets, procrastination could be the deal breaker.

The Sandi Pressley Real Estate Team has 5 Home Buyer Specialists. Our Specialists do not list homes, they only work and represent home buyers. Working with a Home Buyer Specialist can make a significant difference in a market like the one we are in today. A Buyer Specialist knows the market, keeps on top of the current home inventory and can help you be on top of the best home purchase opportunities as they come about. Having a real estate agent working for you in this capacity in this market can make a significant difference in what kind of home you find and how much you pay for it. Contact us if you are interested in being fully represented as a buyer. You will love this approach to purchasing a home.

Have An Awesome Week!

SANDI'S LATEST HOT HOME LISTING!

416 Monte Alto Pl NE

Price: $275,000

Beds: 4

Baths: 1.5

Sq Ft: 2,463

Well-maintained, single story home, nestled in the foothills on nearly 1/3 acre lot. Light & bright floorplan w/large great room, eat-in kitchen, formal dining & 4 spacious bedrooms. Master has shower & walkin closet. Some of the many recent updates include combo refrigerated air/heating unit & new stucco in 2012, new windows throughout in 2010, new appliances, light fixtures, updated baths in 2009 & new metal gate in 2012 to obtain back yard access. Huge 25x12 workshop insulated & finished!

View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Sandi

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real estate Albuquerque Rio Rancho New Mexico home buyers buying market trends

Displaying blog entries 1-2 of 2