Albuquerque Real Estate Blog

Albuquerque Homes- Interest Rates are STILL low!

2012-01-20T10:00:00.000-08:00

(I couldn't find a picture for this blog so I thought the Giraffe would catch your eye...)

Interest rates are still amazing! I just helped a first time home buying couple purchase one of the homes for sale in Albuquerque Acres West and they were able to secured a 30 year fixed mortgage at 3.75 with no points! I couldn't believe it when the escrow officer went over their loan papers and began to discuss the terms of the loan. My immediate response was "How many points did you have to buy to to buy that down?" and the buyers looked at me like I had two heads. "None" they replied. I'm sure my jaw hitting the table erased any doubt they may have had about making the right decision in buying a home at this time. I saw the buyer's remorse jump right out the window.

At the risk of sounding like a salesman, right now is still a great time to buy. Again, interest rates are low, home prices are correcting and inventory is high. Sellers are ready to entertain any offer and get their homes sold and on with their lives. Some are even more than happy to write a check at closing.

So, if you are thinking about buying one of the Albuquerque homes for sale, get movin'! The good ones are going and there are plenty of them. These interest rates can't last forever!

Call or email The Albuquerque Real Estate Group if you have any questions. We are more then happy to help!!

505-385-9303
Tim@TimFish.com

Albuquerque Homes for sale - National refinance stats different in New Mexico!

2012-01-16T09:30:00.000-08:00

HI! Well once again the broad brush stroke doesn't apply as much in New Mexico!

I was reading the paper yesterday and found out that the national average on down payments for home loans was over 20%! Wow that sure does knock some buyers from this already stressed real estate market.

Fortunately, for some people searching for Albuquerque homes for sale, whether you are a seasoned buyer looking for homes for sale in North Albuquerque Acres or a first time home buyer looking at Albuquerque uptown homes for sale, there are programs that can be found which offer down payments as low as no down payment, and $500 down payment! FHA still offers loans with a minimum down payment as well.

The important thing here is to do business with a seasoned, local, mortgage company.

I would be happy to offer any assistance needed and offer viable mortgage company options for you and your friends!

Albuquerque Foreclosure Stats

2012-01-09T14:36:00.000-08:00

Hi! It seems Albuquerque Foreclosures are on the move. The Brokers at the Albuquerque Real Estate Group were recently informed that rate of foreclosure activity was up 180% in the month of November. Now that is not the number of people actually in foreclosure, but includes all people that are late in their payments.

So, is this an indication of increased foreclosure activity? Who knows? But what it does highlight is the fact that there is still way too much financial pressure on Albuquerque families.

Many owners that are delinquent on the mortgage payments, or soon will be delinquent, simply do not know who to call to find the proper procedures for selling their homes. Some believe that simply ignoring the issue is acceptable and the bank then will foreclose on their home and it will be done. Is this the wise way to handle this situation? No!

If you, or anyone you know is facing the possibility of foreclosure, whether you need to move a Sandia Heights homes for sale or Downtown Albuquerque condos for sale, call an agent or company that has taken a positive stance toward foreclosure. An agent that is certified to handle short sales would be a very good tool! Each mortgage company handles short sales differently. But there are some guidelines to get you through the maze. We would love to help. At the Albuquerque Real Estate Group we are all certified in the sale of distressed properties.

Please feel confident to contact me at Tim@TimFish.com . I can offer you options! I want to help!

Short Sales!!!! Is it worth it?

2011-12-20T13:57:00.000-08:00

Now there is a question I hear on a regular basis! Whether you are searching High Desert Homes for Sale or Albuquerque Downtown lofts for sale, of course they are worth it! Sure it may take a little time but if the Listing broker knows what they are doing your answers may come quicker than you expect. Typically the banks are more flexible with their negotiations as the time on the market increases. Remember each type of mortgage has different procedures they follow. Knowing those procedures will help you.

The bottom line is this: use a broker that has been trained in the Short Sale process and your offer will stand a much better chance of success.

The Albuquerque Real Estate Group Brokers are all Certified Distress Property Experts. We would love to help you!

Remember, for more information on this topic or other real estate in Albuquerque questions contact TheAlbuquerqueRealEstateGroup.com

Albuquerque Home Market - No, Seriously..

2011-12-17T16:11:00.001-08:00

I really don't care what you have read or what your neighbor or co-worker, who has no idea about the current Albuquerque Real Estate market says - The good homes are selling and they are selling FAST!!!

In the past month I have seen five (5) of my buyers find a home...go home and think about it...call their friends to see what they think...think about it again for a couple days...then decide to make an offer...call me only to find out that the home has been under contract for the past 2 days. If you are serious about buying a home and find it, BUY IT!! Interest rates are crazy low and inventory is high. What else needs to happen??

So, to all you home buyer out there, Albuquerque Homes for Sale are selling and the good ones are going fast! Our numbers continue to rise month over month. Thats a fact! So buckle down, find your home and buy it, because there are buyers out there who will beat you to it if you drag your feet. So here's some tough love - you can learn your lesson the hard way or you can listen to your real estate agent, get aggressive and buy your new home.

Albuquerque homes for sale - What's the Value of a price reduction?

2011-12-05T10:08:00.000-08:00

I have been fortunate to have the conversation with several of my peers about the value of a $5,000 price reduction. The conclusion we arrived at really made sense to us and several of our Sellers!

To begin, let me point out that Albuquerque homes for sale in this market MUST be properly priced or simply should not be offered for sale. With that said, a $5,000 price reduction on an Albuquerque Home for sale would save the buyer a whopping $24 a month! That's equal to a lunch for two! Granted, that's a savings of $288 a year but we felt that there is a much more appealing offer that could be made.

Why not make the home EASIER TO BUY for a buyer by offering to pay $5,000 in Buyer's closing costs? Now this is real money! It could make the difference between a buyer's ability to buy a home now or the buyer having to wait to save an additional $5,000 for closing costs!

If you have any questions regarding this blog topic or Albuquerque Real Estate, please contact us at:
TheAlbuquerqueRealEstateGroup.com

Albuquerque Homes for Sale - Competitive or Compelling?

2011-12-01T09:30:00.000-08:00

I recall a day when sellers were asked to price their homes competitively. That is the seller was expected to price their homes in the range of other similar properties. Well, today the sellers should price their homes compellingly. What's the difference?

This market is the new normal. The fact is it is probable that some homes in your area may not sell! Now that's a new thought! What I'm saying is your home may not sell!

What can a seller do to price their home compellingly in a sea of Albuquerque homes for sale? First you must look at your competition. Not just in your neighborhood, but in your area. Find out just how many homes are on the market, how many have sold, and how many did not sell. Look at the low end for the area; can you afford to sell at that number?

Look at your time frame; when must you close in order to accomplish your ultimate goal? Now subtract 30-45 days from that date as this is the time it will take to qualify a buyer. Count the number of days from today til that date, this number represents the days you have to obtain an offer from a qualified buyer. Now look at the average days on the market for you area. Is this number higher or lower than the days you have to receive an acceptable offer. Price your home accordingly so that you don't become one of the homes that did not sell.

A knowledgeable Real estate agent should assist you in the process. But remember, you control the price, condition and time it will take to sell your property.

If you have any questions regarding the pricing of your home, or relocating to Albuquerque be sure to contact TheAlbuquerqueRealEstateGroup.com.

Thanks, Tim

Albuquerque Real Estate negotiating POWER!

2011-11-28T15:04:00.000-08:00

Here's something that will give sellers looking for Albuquerque Homes for Sale some bargaining power; prelisting inspections.

All of us want to save a dollar if possible but I have come to realize that the money we save on not accomplishing a prelisting inspection seems to cost the sellers more $ in the negotiation stage. In today's competitive real estate market market buyers are making lower offers and the often use perceived needed repairs as their bargaining chip.

As a wise seller, it makes sense to have your property inspected because:

1. Once you've made the repairs it reduces a prospective buyer's bargaining power based on unknown condition of systems, and,

2. You, as seller, have removed all surprises relating to unexpected repairs,and,

3. A home offered for sale with the warranty in place is more appealing than an unwarranted home.

Some of the Warranty companies offer a warranty during the listing period (before the home is sold) to the sellers!

If you have any questions on this topic whether you are looking for Corrales homes for sale or Glenwood hills homes for sale, remember to contact me at The AlbuquerqueRealEstateGroup.com

Nailing that Albuquerque Home Deal

2011-11-28T07:41:00.000-08:00

When it comes to Black Friday, the best deals are snatched up quickly. There are often a very limited number of these "Great Buys". Sometimes people are camped out for days to make sure they are one of the few lucky ones who get to take advantage of this offer.

If only buying Albuquerque Real Estate were the same. Well, actually it is in a way. Not the camping out for a bargain, but the best deals get snatched up first. My buyers recently purchased a home that had two offers on the property. While the other buyers were negotiating via counter offers my buyers made a solid offer right from the start and it was accepted. Funny thing was the seller of this property was in a three way bidding war on a property she wanted to down size to. Who would have thought? Multiple offers on homes.

What did these Albuquerque homes for sale have in common? They were in excellent condition and were priced well. I love the phrase, "It's a price war and a beauty contest." Let's face it, there is a lot of inventory out there. Many homes to choose from. The beauty of seeing a lot of homes is that when you find a good deal, you usually know it. It's a bummer when other people feel the same way and decide to make an offer on the same home as you at the same time. It is happening quite often.

If you were at Best Buy when they opened their doors on "Black Thursday" (They opened on Thanksgiving night) and were lucky enough to get one of their advertised special deals on a flat screen T.V., would you not just snatch it up? You know it's a smoking deal because you have been pricing them for the past two months. There would be no time to think it over, look around for a possible better deal and come back next week. You would lose out. If it is a quality product at an excellent price, there will be someone else who will snatch up that deal.

By no means am I saying to go buy a home without careful consideration. My point is to do your homework, and online at our website The Albuquerque Real Estate Group is a great way to start. See enough properties that you can make an educated decision. When you do, be prepared to move on it. Chances are somebody else likes it too. We're here to find you that great deal and your perfect Albuquerque property.

Albuquerque homes for sale - something in the air?

2011-11-26T15:38:00.000-08:00

Could it be all this Black Friday hype? Probably not. I'm putting my money on the fact that interest rates are still blowing the industry's mind. I am seeing my buyers lock in anywhere from 4.25% to 3.78% (credit and income area a huge factor here. Please consult our mortgage pro to see what you may qualify for). Those that have been in the business for several decades are having a hard time believing it. And yet, there are those that still want to wait it out for a lower rate....

I, personally, have seen a spike in my recent activity with buyers in particular. It was a bit confusing because, historically, this is usually the slower part of the Albuquerque Real Estate season. Albuquerque homes for sale tend to start slowing down sometime around September. Once the stats came in for the October sales it was clear that this was not a normal, slow, down- turn. Sales were actually up over 9% from September. Also, October sales have increased more the 24% in 2011 than from 2010. Are we actually recovering? I have no idea and if I did, I'd be making my money elsewhere if I knew for sure. What I do know is that homes are selling and the good ones (the well priced, shiniest pennies) are selling fast. Just ask three of my sellers who have missed out on their top picks in a few days time. That is not a fun situation to be in. The point here is (once again), if you think it's your home, buy it and buy it fast! The alternative is settling for number two.

Needless to say, the market is confusing. All the better reason to consult an experienced real estate broker. It is very tricky right now and we are here to help. Give The Albuquerque Real Estate Group a call. We are more than happy to help you find a home, whether it be Ventana Ranch homes for sale, High Desert homes for sale or anything in between. We can do it! :)

Albuquerque Acres West - Featured Lisiting

2011-11-19T09:00:00.000-08:00

If you surveyed a hundred different people as asked them what their idea of the "Perfect home" was, you would most likely get 100 different answers. To some people it would be an eight bedroom home complete with guest house and olympic sized swimming pool, another might say the home has to have solar panels, mostly recycled materials and with a "Green" certification rating, and yet another could say the perfect home is one with a manageable payment.

When working with buyers we at The Albuquerque Real Estate Group listen to what are clients are asking for. We will ask them what their "Must haves" are and then their "Like to's" are for Albuquerque homes for sale. Of course we are not miracle workers. We can not provide the five bedroom home on an acre lot, with views of the mountains, in La Cueva school district for under 200K. I would have already bought it! The truth is we are patient and will try our best to find the perfect home for our clients, if it's out there.

The Albuquerque Real Estate website is such a useful tool in a search for a home. It helps buyers see what is out there and compare areas and prices. Sometimes the perfect home comes along early in a buyers search but they have not seen enough homes to know that.

Funny that first time home buyers and retirees often have the same idea of what they want in a home. A small home, one that does not need work, and a manageable payment. Retirees will often have another stipulation and that is they want a single story. We just might have the perfect home for either of you. It's our feature home of the week. It is 7160 Elk Creek. Three bedroom, single story, pitched tile roof, open bright floor plan, refrigerated air, walking distance to La Cueva or the North Domingo Baca Community center found within the Albuquerque acres west homes for sale. Senior Citizens have a place to go as well as nearby parks for a family with a young child.

Enjoy our featured listing video!

Let us at The Albuquerque Real Estate Group know if you would like to see this or any other homes for sale.

- LZ

Not as Red Hot as you may think.

2011-11-16T09:00:00.000-08:00

I recently included a listing with the many Albuquerque Homes for sale. It is a nice 2 bedroom, 2 bath, 1 story home that was in great shape and very clean. It could use a few updates but over all it was in good shape and had great bones. I would even say it was "turn key". The neighborhood was also in great shape. It was just one of those smaller, unique, cozy areas that could be found in the Albuquerque real estate market.

The day the sign went up, a woman who has been looking closely at the area, was fortunate enough to catch the handy man at the property and asked it she could view the property. The handyman agreed and the lady walked through the property and liked what she saw. She then called her Realtor who, in turn, called me.

To make this long story short (as it should be) the woman and her husband wrote an offer. It was a good offer and my seller countered the price and a few technical things. The buyer then countered back and their original price. Then came my warning to my seller -

Just because a home gets one offer the first couple of days does not mean the buyers will come flooding in right behind them. It is a very easy trip to get in and many people fall for it. The first offer is usually the best and, as the saying goes, one in the hand is ALWAYS better than two in the bush, especially in this market. I don't know how many times I have seen people deny the first offer in hopes for another, larger offer...and it never comes. I have seen people almost beg the initial buyers to come back with their offer 6 months later. Its not pretty.

Bottom line - If you get an offer on your home and it is where you want to be in terms of price (not a low-ball offer), do not fool around too much with counters. Lock that offer down and get on with it! Thankfully my sellers were smart enough to do so! :)

How's the customer service in your life?

2011-11-14T08:56:00.000-08:00

What is one thing that successful companies have in common? Good customer service. Apple, Nordstrom, the Ritz-Carlton are all known for excellent customer service. If you have ever been in an Apple store there are "Geniuses" waiting to answer your every question and spend all the time in the world with you. Then they promise to help you answer any questions you have after you make the purchase. Nordstrom's associates will personally follow you from one department to the next to help you complete an outfit from top to bottom. Cesar Ritz founder of the Ritz-Carlton empire is known for his "The customer is always right."

The most expensive purchase people ever make is their home. I would say that it makes sense to demand excellent customer service from realtors. Buyers and sellers have choices when it comes to choosing a realtor.

I understand that the most important thing going on in my sellers lives when selling Albuquerque Homes for sale is the sale of their home. They want to feel connected to me and updated on all activity, such as showings, feedback, other homes sold in the area etc. How about above and beyond? Several times we have helped sellers de-clutter their homes, provided moving boxes, assisted in yard sales, watered yards, and even baby sat while they painted.

Buyers need special treatment too. There is no set schedule for me. I work ALL the time. One thing that sets me apart from most other realtors when dealing with North Albuquerque Acres homes for sale or any home in Albuquerque is that I answer my phone. Day or night. At the Albuquerque Real Estate Group we have gone to film homes that do not have good pictures or virtual tours so that potential clients can have a better feel about what a property really looks like. I recently hosted a house warming party for a client. It was so much fun and my buyer could not wait to share me with her friends.

We get that consumers have choices. My standard line to buyers is "In the end, I want you to be happy with me and happy with your house." My goal with sellers is to sell their home for the most amount of money I can, with the least amount of stress to them. The Albuquerque Real Estate Group would love to be thought of as the Ritz-Carlton of Real Estate.

Have you looked lately?

2011-11-02T15:25:00.000-07:00

I heard it said that wealth is made in times like these. Why? I believe it is because many people are able to sense change and capitalize on that change! Okay, so what's going on right now? Where is the change?

Have you looked lately at the factors involved when you purchase Albuquerque homes for sale. No? Well check this out:

1. Albuquerque Home prices have continued to drop until just recently. Now it seems to be tapering off. Prices up to $300,000 seem to be stabilizing a bit. The new norm seems to have arrived!

2. Interest rates have continued to drop as well and today rates are between 3.75% and 3.9%! What? These rates haven't been heard of for 40+ years!

When you combine these two factors properly it means that Albuquerque homes are renting for more than the payments!!!

I've been actively involved with Albuquerque homes for sale for 39 years and I have noticed one thing; there is a peak with every high trend, and there is a low for every declining market. I don't know if this market can go any lower in value and interest rates. Either one may go up at any moment.

Should you buy now? Absolutely buy now, don't wait for the pricing to go lower because the rates may go up!

Tijeras Real Estate and East Mountain Property

2011-10-11T11:50:00.000-07:00

Looking for homes on the East side of the Sandia Mountains is always an adventure! The entire area really makes you forget that you are only 20-45 minutes away from from the heart of Albuquerque. A majority of the homes in this area are surrounded by beautiful pine and piñon trees with several aspen sprinkled throughout. During the fall season these aspen turn bright orange and golden yellow! There is actually an area within the East Mountain named "Firecraker Canyon" due to the one week out of the year that mother natures puts on an amazing show of colors! At times you could swear that you are looking at a painting. If this area were to be filmed (and I am sure it as) it would be easy to believe that special effects were involved.

Locating East mountain homes for sale in Albuquerque can be a challenge but that is a good thing! When people decide to move to this side of the mountain there main objective is to get away and get secluded. The different areas within the mountain include Paako, Sandia Park, Tijeras and Edgewood. If you continue to travel East you will find yourself in the town of Moriarty.

There are several local places to eat and drink within these separate communities. The people you will find here are friendly and very proud to live on the "east side". The different style of homes found vary from (but not limited to) Pueblo, Northern New Mexican and, of course, Log Cabin. Be sure and visit Tijeras homes for sale, Paako homes for sale, Sandia park homes for sale and other Albuquerque Homes for sale at www.TheAlbquerqueRealEstateGroup.com. Enjoy the Video!

Nob Hill Albuquerque Homes

2011-09-26T09:00:00.000-07:00

I love showing Nob Hill homes for sale! It is one of my favorite places in Albuquerque. The homes are great to see mainly because the people of Nob Hill have done so great things to the homes without ruining the "feel" for these older casa's. It is not uncommon to see homes that have updated kitchens, bathrooms and HAVAC systems all without losing the charm of the home. If you're lucky, you may even find a basement, which is pretty rare in ABQ! And many of the front and backyards are amazing with all the lush and mature foliage that comes with an area this seasoned.

Now, the best part of this area, in my opinion is Nob Hill on central. There are several little, quaint, one of a kind shops. From fine jewelry to tattoo and piercing shops, this area has it all ad is very colorful! And the eating and drinking is one of the top in Albuquerque. Whether you are in the mood for fresh, homemade breakfast pastries, wood oven pizza chased down with a handcrafted ale or maybe fish-n-chips with two fingers of high end highland scotch, Nob Hill has you covered!!

Single family homes can range from The $180k's to around $380k. Most homes in the Nob Hill area are flat roof, single story adobe style homes. The most recent home development here is "The Place in Nob Hill". These are newly completed condominiums that can go as high as $500k...

For more homes for sale in Albuquerque, please visit The Albuquerque Real Estate Group.com!

10 for Balloon Fiesta - The Albuquerque Real Estate Group

2011-09-22T09:15:00.000-07:00

One of the most fun things about my job when selling Albuquerque homes for sale to out-of-town clients is sharing some of Albuquerque's traditions. One of our biggest is the Albuquerque Balloon Fiesta. I have complied what i think are the top ten reasons to take advantage of the extraordinary event -

Top 10 reasons to attend the Albuquerque International Balloon Fiesta.

10. Largest hot air balloon festival in the world. Over 600 balloons representing 20 countries. Begins Oct. 1 and ends Oct. 9.

9. This is the 40th Balloon Fiesta held in Albuquerque. This tradition started in 1972 with 13 balloons.

8. Mass Ascension. This begins at 7:00 am although you need to be there much earlier. You can take advantage of the "Park and Rides" which are located all over the city and a bus will drop you off at the site.

7. It is said to be the most photographed event every year. Pictures do not do it justice. However, there are photo contests held every year in several different categories. This year Nikon is giving away special prize packages.

6. Family friendly atmosphere. Bring your lawn chairs, blankets and kids. Outside food is permitted.

5. Balloon rides. Rainbow Ryders offers a unique experience of flight like you have never felt before. All seats are first class!

4. The Balloon Glow. At night the special shapes such as the dairy cow, wagon train, and Darth Vader are illuminated at the same time. Fabulous!!

3. Fireworks!! This happens after the Balloon Glow. Need I say more?

2. Green chile breakfast burritos. They make it easier to get up so early. There are plenty of other food vendors too. Try a huge turkey leg or a fried twinkie.

1. If you are from out of town, you might just visit and fall in love with Albuquerque. If you want to move here we can help. Visit us at The Albuquerque Real Estate Group.

I love selling Albuquerque Real Estate!!

Ridgecrest Albuquerque Homes for Sale

2011-09-18T19:11:00.000-07:00

Ridgecrest Real Estate is located south of the charming and historic Nob Hill district. Close to shopping and dining, this area is also close to the university as well as downtown Albuquerque. There are several styles of homes to chose from whether you are looking for a ranch style or pueblo, you will not be disappointed. The prices range from $100K to the mid 300K's.

While Selling Albuquerque Homes for Sale I have found that many people enjoy living close to the University of New Mexico, students and professors alike. There are activities taking place all year long. The football stadium and the Pitt, which hosts the Lobos Basketball team are close by for sports fans. Feel like a night at the theatre? Pope Joy Hall is a wonderful venue that musicals such as Grease, Rent, and Wicked have appeared. Currently the Blue Man Group is scheduled.

There are lots of parks. You can barely go a couple blocks with out coming across one. If you golf, you will be happy to know there are two golf courses within easy reach. You can be at the airport within ten minutes. Okay, more like 15 minutes (I drive too fast). Overall, the Ridgecrest - Nob Hill area has held its values very well. If you wonder what this area has to offer, check out homes at The Albuquerque Real Estate Group.

Glenwood Hills Albuquerque Homes

2011-09-08T02:56:00.000-07:00

The Glenwood Hills Neighborhood is nestled along the Sandia Mountain foothills on the eastern border of the city of Albuquerque. Located south of High Desert, this community is well established with larger size lots and streets that seem wider than newer subdivisions developed these days.

There is easy access to many hiking and mountain biking trails in the Sandia Mountains and the paved bicycle/pedestrian trail that runs for 10 miles along Tramway Blvd. Makes exercising convenient. But if you prefer a gym, there is the Highpoint Sports and Wellness fitness center within walking distance. It is a private club that features such amenities as tennis and aquatics.

Glenwood Hills real estate is also located in close proximity to several shopping areas and many good restaurants so you have all the conveniences of city living. Eldorado High School is the public high school for this area. It's a top rated school in Albuquerque.

Another bonus is the police substation at the entrance to Glenwood Hills.Convenient city amenities and the Cibola National Forest creating a beautiful mountain landscape as your backyard, who could ask for anything more? Well, as a matter of fact this area has an active and effective voluntary property association that looks after the security and interests of it's homeowners. It is a really nice place to live and Glenwood Hills homes for sale are popping up daily. Contact The Albuquerque Real Estate Group for homes available in this area.

Homes in Albuquerque Acres West

2011-09-05T21:32:00.000-07:00

Location! Location! Location!! If you are looking for a reasonably priced Albuquerque homes for sale with the highest rated schools in New Mexico, look no further! This area of homes along the Paseo Corridor has it all. Shopping, restaurants, parks and more.

You can easily spend up to a million on a home in this area. At the same time, there are homes that start at about $200,000. What do they both have in common? Schools that are rated as being the top schools on several online school ranking sites. North Star Elementary, Desert Ridge Middle, and La Cueva High Schools have HUGE parent involvement as well as awesome teachers, staff, and Principals.

Albuquerque Real Estate in this area ranges from patio homes, to Mcmansions and everything in between. There are sprawling brick homes that look like they came from somewhere back East, and typical pueblo flat roof homes that are native to New Mexico. There are really several different styles seen in this area. Gated communities such as Desert Ridge Trails, Quivera Estates, and Ocotillo just add to the choices.

This is a great community to live in that is really close to just about everything you could possibly need in the way of shopping, dining and recreation. Almost every home is within walking distance to a park or one of the schools. Many are walking distance to a store or restaurant as well.

For more information on homes in this area contact The Albuquerque Real Estate Group.

The Paseo del Norte Corridor - Albuquerque Real Estate

2011-08-31T21:40:00.000-07:00

When you buy Albuquerque Real Estate along the Paseo Del Norte Corridor there is no reason to go very far. Just about everything you could possibly need is within walking distance or a very short drive. Whether you are hungry or need a haircut, you do not have to go far.

There are plenty of options when your tummy is rumbly. Dion's, Flying Star, Five Guys Burgers, and Jimmy John's are some of my favorites. I really enjoy meeting friends for happy hour at Jinja Bar and Bistro. Chili's is also an option if you need a cocktail or beer to wash down your meal.

Having both a Smiths and an Albertsons to chose from is nice. Of course no store compares to Trader Joes. If you already shop there, then you know what I mean. If you don't, then you are missing out!

Target, Lowes, and Bed Bath & Beyond are a few of the larger stores in the area. Not to mention specialty stores such as Lilly Barrack Jewelry and Strive which sells clothing and shoes. If you buy a gift a need to ship it, theres a UPS and a FedEx close by.

Need a manicure? Haircut? There are several salons in the area. Get a Great Clips trim or the full treatment at Mark Pardo.
Need a prescription filled fast? Walgreens has a drive thru. I personally enjoy the personal service Pharmica gives me. They compost some medications on site.

There are a dozen or so churches to chose from. The North Domingo Baca Multigeneration Center is a wonderful new addition to our community. Included is a library, computer cafe and fitness room. The huge park attached also has a section for dogs as well as a skateboarding and bike section. With even more additions such as a community pool in the future.

Let's face it, with the price of gas these days it's nice to have most everything you need close by. Did I mention we just got a gas station? It's great because shopping at Smiths earns you free gas here. It just keeps getting better!!

Contact us for Albuquerque Homes for Sale!!

We hope you enjoy our video!

Albuquerque Homes For Sale - North Valley

2011-08-29T19:20:00.000-07:00

The North Valley is truly one of the most beautiful areas for Albuquerque Real Estate in all of the Duke City. With its large trees and lush green meadows it's like no other place. It gives you southwest rural living with its large acre plus lots and plenty of open space. Some of the most expensive and exclusive real estate in Albuquerque is found here.

While there are many residential neighborhoods and North Valley homes, there are also farms, ranches, multi-acre estates, orchards, and equestrian estates. Many people keep their horses right on their property. It is not uncommon to see chickens, goats, and cows too. Country living within city limits - this defines the North Valley lifestyle.

There is pedestrian friendly shopping as well as great places to eat. The Los Ranchos Growers Market is a gathering place for locals on Saturday mornings. It is a great source for local produce among other goodies.

The North Valley offers a variety of outdoor activities. There are limitless trails for horseback riding and dog walking. The Rio Grande Nature center is also a favorite family destination. There are also wineries, antique shops, and my personal favorite...Spas.

Search for Albuquerque Homes For Sale available in the North Valley today at http://www.thealbuquerquerealestategroup.com/.

Albuquerque Homes For Sale -New places to eat!

2011-08-07T20:30:00.000-07:00

Why is it we always want what we can't have? Human nature I guess. Last year while in Austin,TX with my husband, I was taking a little vacation from selling Albuquerque Real Estate and I had the BEST sandwich I have ever eaten. It was so good we ate there four times in three days. It was a Jimmy John's gourmet sandwich. I knew they did not exist here in Albuquerque, so I had to get my fill. On a trip to Florida this year I researched the nearest Jimmy John's to our hotel. Score!! It was within walking distance (thirty minutes) Well worth the trek! Then this summer we planned to come through Arizona on our way home from a road trip. Yes, we hit up Jimmy John's in Tempe, AZ.

I occasionally crave the #9 Italian Night Club sandwich with the special hot peppers. Yum! My mouth is watering as I type this.
I wonder if I would be drooling right now if I could just drive down the street and get one???

Well, I get to find out this week. Albuquerque gets their first Jimmy John's. The opening is set for Tuesday August 9.
The address is 6650 Holly Ave. NE. Off Paseo Del Norte, between Louisiana and San Pedro. Next door to Five Guys Burgers and just west of the Kohl's dept. store. They even deliver within a five minute drive. Don't worry if you are not within the delivery boundaries. They are supposed to have up to 20 new stores here in New Mexico within the next couple years and you can bet that I will be stopping often when taking a break from showing Albuquerque Homes for Sale.

Who knows?? Next month I may go back to wanting what I can't have. You know what I'm talking about. Yes, that's right!! In-N-Out Burger!!! Maybe the Albuquerque area will get a store someday. A girl can dream can't she?

- Lorri Zumwalt

Albuquerque Homes For Sale - Featured Listing

2011-07-30T09:20:00.000-07:00

Scarlet Gem (Video)

In a fairly large inventory in Albuquerque Real Estate, this "gem" shines! It is a Gorgeous custom home in Primrose Pointe, with a casita/studio detached. Beautiful Hardwood floors,raised ceilings and mudroom. Formal dining room has built in cabinets to display china,serving dishes etc.

The kitchen is a chef's dream. It boasts cherry cabinets with pullouts, high end granite counter tops, instant hot water, warming drawers, and pot filler. Top of the line appliances include built in refrigerator,Six burner Viking range, two drawer Fisher Paykel dishwasher, and wine cooler.

Huge master suite with fireplace and thoughtfully designed master bath retreat. Two additional large sized bedrooms upstairs each with walk-in closets that share a "jack and jill" bathroom. There is a game room downstairs with built ins that could be used as an office.

Yes, I mentioned a detached casita. This is a large room with it's own full bath and closet. Great for company or college kid who might want a little separation from the folks. The current owner used it as a music studio. Outside is a lovely outdoor living space with fireplace, built in grill and privacy.

This home is in a school district that is top rated!!! It's a very exclusive subdivision. Contact the Albuquerque Real Estate Group for a showing of this or more Albuquerque homes for sale today.

Enjoy the video!!

Albuquerque Homes For Sale - Downtown Condos

2011-07-22T09:00:00.000-07:00

I had a opportunity today to check out an apartment complex in a nice little area just west of downtown Albuquerque. The owner of this southwest, 1 story complex has re-zoned the buildings for condos and is currently selling each unit. There are probably about 70% of these Albuquerque condos for sale which are occupied by tenants already, which could be good for investors who are looking for turn-key units, if the rents work out of course.

I was lucky enough to have the property manager show me a refurbished model unit. The unit itself was a 1 bedroom and had original hardwood flooring throughout, a full bathroom, kitchen with ally and courtyard access and a cozy little living room. I was pretty impressed with the entire complex.

The units, right now, range from $111k to $145k for a two bedroom. The location is great! It was within bike riding distance to several shops and restaurants. It really looked like a fun place to live. The complex itself came with a large, grassy courtyard that was begging for a privacy wall for its occupants but looked good even without. The complex itself was a stucco, flat roofed structure with red brick accents. It really fit in with the southwest feel of several Albuquerque Homes for Sale in the area.

Check out the video I made for an out-of-town client!

Albuquerque Homes for Sale - Sandia Heights

2011-07-18T09:00:00.000-07:00

Situated at the foot of the Sandia Mountains, the unique Albuquerque real estate named Sandia Heights is a community unlike any other. Natural landscaping gives homeowners a rural feel. The views from this area are spectacular... City lights, sunsets and mountain views. It's not uncommon to see wildlife such as deer, rabbits, quail etc.

You can find several Sandia heights homes for sale by way of townhouses for around $200k, or a luxury property for 2 million. The lot sizes range from under a half acre to over an acre. There are currently 2200 home residences in Sandia Heights. This area is governed by a Homeowners Association that does its best to preserve the mountainous beauty of the area.
Sandia Heights offers walking and mountain biking just steps from your door.

Some people choose to live in Sandia Heights to accommodate their active lifestyle. Being able to hop on your bike and be connected to a bike path that takes you to other parts of the city is a huge bonus.

Another bonus is the proximity to the Sandia Peak Tram. This tram will transport you to an observation deck atop 10,378 Sandia Peak in the Cibola National Forest. You will have a panoramic view of the Rio Grande Valley and the Land of Enchantment.

A beautiful weekend in Northern New Mexico

2011-07-16T09:00:00.001-07:00

When I want a quick escape to reboot from selling Albuquerque homes for sale, I love to escape the city lights and retreat to the mountains. Like everybody, I enjoy a trip to Disneyland, or the California coast, but last weekend we packed up and ran to our family cabin in Northern New Mexico near Mora, N.M.. It was wonderful, the sky was blue, the flowers were blooming, and the trout were hungry!

The cabin is a wonderful place full of adventure and fun for the boys and our little girl. During the day we fish or splash around in the streams in the area. At night we often go out on the deck to just lay and stare at the Milky Way. It's amazing how clear the night sky is at the cabin. We talk about flying saucers and little men and always wonder if anyone else is out there. Then, as the evening gets cooler we wrap them up and cook marsh mellows over a campfire.

No phones, no TV, just ourselves and some good books and games. It always makes me wonder what happens when we get home? Things just seem to get crazy and out of control. But days and nights in Northern New Mexico are simpler, slower, and just more relaxing.

Real estate like our cabin is a great thing. Our family and two other families purchased the property 30 years ago. I am sure glad they did! Have you ever longed for somewhere to go to get away? If so, I am positive that purchasing a cabin is a good thing. Is it a good investment? Probably not if you are thinking about the money, but if you thinking about bonding as a family it sure is a great investment!

If fishing, reading, resting, eating, and just slowing down is important to you, consider a cabin in our beautiful state. It takes us just 2.5 hours to reach the cabin front door but it seems like a world away.

Contact the Albuquerque Real Estate Group for information regarding vacation homes anywhere in the state of New Mexico! We want to be your trusted real estate advisors!

Albuquerque Homes For Sale - High Desert

2011-07-14T16:41:00.000-07:00

The area of High Desert is very unique and one of Albuquerque's most amazing subdivisions in terms of home quality and landscape. High Desert homes for sale can range from $250,000 for a townhome or up to $2,000,000+ for a southwestern palace. These cutom homes must all adhere to the HOA restrictions when is comes to the construction of the home including the color of stucco or brick on the home. These rules definitely help fulfill and blend each home into the natural environment.

A natural, southwest and true high desert habitat can be seen around every corner. With the strict HOA and pride of ownership, High Desert wows visitors daily. There are several open space areas for locals to easily hike and mountain bike right outside their back doors. Trails can be as casual as a Sunday stroll or as challenging as an extreme mountain biker, hiker or rock climber would like, all within the same area.

With this natural landscape also comes the beautiful (and sometimes dangerous) animals and critters that have lived there for many years. It is not that uncommon to spot a roadrunner or even a deer in the early morning hours which adds to this mystic subdivision.

The Albuquerque homes for sale in this area are truly special! For a personal tour or more information on this area, please contact The Albuquerque Real Estate Group. Enjoy our custom video!!

Albuquerque Homes - North Albuquerque Acres

2011-07-01T14:56:00.000-07:00

North Albuquerque Acres - A Guest Blog

Got Land?

This was an important question to both my husband and I when looking at Albuquerque homes for sale several years ago. Neither of us wanted to be so close to our neighbors that they could hear us yelling at the dog. Or worse, a kid :)

Good schools?

This was equally important to me as well. Having children in elementary, middle and high school age range made this an important aspect of our home search.

Convenient location?

My husband did not want a long commute to UNM where he works. I wanted to be close to shopping and places to eat (you can see where my priorities are).

Then I hit the lottery. No, I did not have a winning Powerball ticket. I mean figuratively when we searched, and bought, a North Albuquerque Acres home for sale. It was one of the best purchases we have ever made.

I love living in an area where everyone has an acre of land to spread out on and parking is never an issue. The elementary, middle and high school all scored 10 out of 10 at greatschools.org. Everything from drug and grocery stores to parks and restaurants are very close by. Sometimes I ride my bike to Trader Joes. The only downside is that I can buy only what will fit in my basket.

North Albuquerque Acres or NAA is a special area. I became president of our community association last year. We are a voluntary group that is involved in keeping our area a clean and safe place to live. The past two years we have had a Spring Clean day that allowed our neighborhood to come dispose of trash, recyclables, and hazardous waste safely. Also an email alert system was recently implemented to notify one another of time sensitive information such as a lost dog, etc.

We always hear location, location, location! When a buyer makes their decision based on location, they are usually happiest with their decision. You can always makechanges to a home but you can't move the home itself.

Enjoy the video!

- Lorri Zumwalt, Realtor

Albuquerque Homes for sale - Restaurant Review!...sort of.

2011-06-30T13:22:00.000-07:00

One of the best parts of my job, along with helping people buy and sell Albuquerque real estate, is staying in touch with clients that I have worked with. Today I had the the privilege of driving downtown to eat lunch with a good friend and past client (it was a good transaction and our friendship survived!).

My friend works in downtown Albuquerque, so he knows all the new places that open up and, today, I benefitted from it. One new place that has been open for about two weeks is "bRgR" (pronounced burger...in case you didn't figure that out). He describes it as a hip burger joint. Since I didn't know quite what that was, so I was excited to find out.

This hip burger joint is on Central and 3rd on the northwest corner. It's not very big so we arrived early to beat the lunch rush. The interior is a little difficult to describe. Lots of grays and reds and there was a bar right in the middle with a few local brews on tap. In the back of he restaurant is the kitchen and grill where you can see the grill masters (sounds better than cooks) making the meals. It was very clean and not too big, which was good. Kind of an industrial feel with high ceilings and you could see the duct work. Because it was on a corner of the street, windows surround the restaurant, which lends itself to a ton of natural light. It feels very open and big despite the actual size.

The menu was pretty unique. About a dozen beef burger choices (including Kobe burgers) which ranged from $6 to $8, which I thought was a great price point. The only bummer was that fries and onion rings were separate but only $2 per serving of each. They also had sweet potatoes tots which had a hit of chipotle, which we couldn't figure out if it came from the actual tot or the ketchup. Either way they were interesting....in a good way!

They also had a few "exotic" choices which included Yak (I had no idea it was legal to eat Yak), Bison, and Kangaroo. When I saw these I immediately looked to see if they had a Koala appetizer. I hear their meat is very tender!...that was a joke.

With all the interesting choices before me I chose a yard bird burger! AKA, chicken burger. I know. Pretty sad. But even that was completely unique. It was actual chicken ground up and mixed with, what looked like, spices and possibly a few peppers. The patty was topped with a white cheddar sauce, apple smoked bacon and avocados. It was fantastic! I don't think I have really had chicken done like that and it completely agreed with me. The portions were perfect as well. Over all, a great place to eat. Both of us walked out of there spending about $15 each and that was with drinks and one side each which we could have done without. Not too bad.

So, the next time I am out showing Albuquerque homes for sale, I will try to make it a point to visit bRgR. Definitely worth the trip!!

Corrales Real Estate, an Albuquerque Local's View

2011-06-24T09:00:00.000-07:00

I am, by no means, a Corrales local. I don't know all the strict official and non-official rules for the area (other than go just one mile over the speed limit through the town and you will get a ticket!). I only know a handful of people that live there. They all seem to love the area and once they get in, they never seem to come out of the village. What I can share is a NE heights boy's unfiltered point of view of the area.

While growing up in Albuquerque, I can remember visiting the village of Corrales from time to time. It was usually on a weekend during the summer to visit one of my father's or mother's friends who lived in the area and it was usually for a huge BBQ, or an exciting event like riding horses on someone's property.

The actual car ride at the time seem to take about 30 minutes and the area was considered very rural. I guess when you really have nothing to compare it to, rural was what it was! I recall thinking it felt as through we went somewhere of a greater distance. It didn't feel like we were only 30 minutes from home. The city was nowhere in site. All we could see were enormous cottonwood trees, adobe homes and lush fields of green being grazed by horses. It really was special considering we lived near the base of the mountains and were used to seeing a desert landscape.

The area still feels the same to me even now, except the drive is even shorter (15-20 minutes from our home in Albuquerque acres west). The village itself is fun to visit from time to time. The quaint restaurants and shops make it feel like I am on a little vacation...even if i am searching Corrales real estate. One place I enjoy in particular is "Village Pizza". They have an all-you-can-eat buffet that has pizza so good that you think you are getting the better end of the deal. The "Indigo Crow" is another popular place that several locals enjoy. The cottonwood shaded patio off the main makes this cafe a perfect place to chill during the hot summer evenings and sip a brew or glass of wine. Or, if you are feeling a bit on the purist local side you could chance the local watering hole, "Tiajuana Bar"...at your own risk.

That's just a quick little view on Corrales. Of course it is much more complex than that and if you would like more info on Albuquerque homes for sale, please contact The Albuquerque Real Estate Group. Enjoy the video!

Albuquerque Homes For Sale - other financing options

2011-06-22T14:40:00.000-07:00

We are not in a "One sizes fits all" world. Not when it comes to clothes, vehicles, homes ect. and the same goes for financing a home. Not all mortgages are created equal and not every lender has access to the same programs. It is very possible that a buyer can't get financing through through a lender. Sometimes you have to think outside of the box.

This is where owner financing may be a opinion. A seller in need may decide to offer financing to a potential buyer for their home. To make this worth their while, the seller often requires a 10% (at least) down payment, a monthly payment to cover principal, interest, taxes and insurance. This entire payment is calculated and based upon an interest rate that is, of course, agreed upon by both parties. Then there is a call date (typically 3-5 years). This is when the entire loan is "called" and the buyer pays off the loan to the seller in cash or gets another loan to pay of that original loan (did you follow that?).

Now, why would any seller want to offer owner financing or a REC (Real Estate Contract) for Albuquerque Homes for sale? Glad you asked. There could be a number of reasons. Sometimes the buyer doesn't want to sell their current home or can't qualify with a lending institution so they will seek owner financing. The buyer could be self-employed, divorced without credit of their own or haven't been at their job long enough OR buying as an investment. Basically, if they cannot get qualified by a lender and can obviously afford the home, REC's are a great option.

Keep in mind, the seller should definitely do their homework first and have a credit check done and reassure that the buyer has the income to make the monthly payments. If the buyer does not cooperate, cut that one loose ASAP! Realtors can run searches in the Albuquerque MLS to try and find homes that offer seller financing. Also, if there is a home that is not advertising this type of financing, ask your agent to get with the listing agent to see if its an option. A lot of sellers may not even know this is a option until it is presented to them. You just never know. It could be a great opportunity for sellers to make money if they do not need their proceeds from the sale of their home right away. This just might be the perfect fit!

Money or repairs - Albuquerque homes for sale

2011-06-16T09:00:00.000-07:00

The question may boil down to "would you like the repair allowance in the form of a credit towards your closing costs or would you like the repairs done?"

Once inspections have been completed on a home in escrow, the buyer will more than likely ask for a few (or a lot) things to be repaired or addressed. Usually within the purchase agreement for Albuquerque homes for sale there is an amount that is agreed upon before the inspections occur that is allotted for repairs. Now, this amount is entered into the agreement under the assumption that the home has no major issues. If there are major issues, then its back to the drawing board but that is a completely different blog...

Instead of doing the repairs the seller may just try to throw money at the problem to make it go away, which is perfectly find and sometimes works. By telling the buyer they can have $1500 in closing cost credits may mean that the buyer doesn't have to use all the money they have saved on closing costs. Maybe they can buy the new TV that they (usually he) has had their eyes on that would look amazing in the new living room!....and that's pretty much the problem there.

If the money is spent on a TV, then those much needed sewer line clean-outs (for example) would most likely be pushed further and further down the timeline until it is a major issue and the problem doubles or triples in cost. Which is something I would totally do but do as I say, not as I would do!

For the buyers, the best thing to do is to get the issues repaired because it is very easy to get use to the the current problems and not fix them. As time passes, the harder it will be to pay for that one issue that seems to be okay until it becomes a major issue and the money is spent else where.

For the sellers the best thing to do when selling Albuquerque real estate is usually give the buyer the money towards the buyer's closing costs or come down off the price of the home. That way they don't have to worry about the unknown which could be the cost of the repair being more than expected and the seller's can deal with the scheduling of the repairs.

Albuquerque Homes for sale - Thoughts on Sewer Line Inspections

2011-06-14T09:00:00.000-07:00

I recently sold one of the several Albuquerque homes for sale (my listing) and the buyers were concerned about the sewer line from the home. The age of the home was 50+ years and there was a big tree in the front yard so the inspection was a great idea. The major concern was not only the age of the sewer line but a possible root intrusion that may have occurred in the years past.

The best way to actually see the condition on the line is to hire a professional to scope the line with a fiber-optic camera and digitally video record the inside of the sewer line. Once this is done the inspector will distribute the video to all parties involved and then a decision will be made as to whether the line should be replaced or not. The problem is, who should you hire to scope the line?

If the inspector is not a licensed plumber, someone may end up paying more to have the line scoped again. Often times (this happened twice to me in the past 2 months) the unlicensed inspector will make comments like "could be corrosion" or "could have root infestation" or "may have to be replaced". Comments such as these can raise false red flags and replacing a sewer line can be expensive, like $5k expensive.

Now that this unlicensed inspector has made the comments, the buyer immediately goes on the offensive and wants the line replaced because the guy filming the line has commented, in the video, that he "thinks" the line should be replaced. Now we have to get a second opinion and some plumbing companies charge for second opinions. You may get lucky and have a company accept the first video but they will, more than likely, charge for the time.

So, in my case (both times) this inspector, who was chosen because he was cheaper than the licensed plumber, said that he thought the lines should be replaced. And, in both cases, the line needed to be re-scoped only to have the plumber say that the line was just fine. I think the first, unlicensed inspector should leave his mic off and maybe write his findings down in the written report OR explain to the buyers that he can only give opinions OR become a qualified plumber.

So, when searching through Albuquerque MLS and the home is older, it is a good idea to get the sewer line scope by a licensed plumber

Albuquerque Real Estate and the short sale

2011-06-12T09:00:00.001-07:00

It saddens me to see all those families that can no longer make the payments on their home. I have discovered that it is a very confusing time for them. When the payments are late not only are the mortgage companies calling but every foreclosure investor in the city seem to be calling hoping to be able to buy the home owner's redemptive rights in hopes of future profits. I'm sure there seems like no there is no way out!

The good news here is there is a process for Albuquerque Homes For Sale that can save you money and perhaps significant heartaches later; the Short sale.

The process is often long and frustrating, and demands the expertise of someone who knows the ins and outs of negotiating with the Lenders involved. It is an exact process in most cases. There are forms that need to completed before the short sale can even be considered. But once those forms are complete the process can begin.

The goal of all the parties involved is to sell the property for an amount that will satisfy the creditors. In other words they negotiate! The seller never receives any of the proceeds but their burden is removed and life becomes normal again.

Depending the on the reason for the short sale, many sellers are able to find another home in the Albuquerque MLS and purchase another home in two years.

There are three points I want you to hear:

1. There is a way out of the problem,

2. It is an exact process requiring a knowledgeable facilitator

3. You need a negotiator on behalf of the transaction and to move the transaction along.

Should you find someone that is in this situation, or if you are in this situation of needing a way out from under your mortgage, we can help. Our team for short sales include a Title Company trained in the short sale process and the needs of the lenders, an attorney that negotiates the sale with the lenders assuring that the process moves forward, and me to market the property to attract the buyer that will begin the entire process.

I want to help. Please feel free to refer my name and contact information to anyone needing these services.

And for all your real estate needs remember to contact The Albuquerque Real Estate Group!

Verbal negotiations regarding Albuquerque homes for sale

2011-06-10T09:00:00.000-07:00

From time to time I will find myself working with another fellow Realtor and negotiations can turn to talk rather then tangible contracts when dealing with Albuquerque homes for sale. Its very easy to get caught up in but, as they say (I have no idea who "they" is), it gets lost in translation. The first red flag is "we have a verbal acceptance!" Thats neat but it doesn't mean anything until it is written down and all parties sign. It is my opinion that it all should be written down and presented to the respective seller and buyers.

If two Realtors get together and start the ol' he said she said, things can get ugly real quick and no one is to blame but them. Things could be forgotten or misinterpreted. It is always good practice to get it down on paper and have each of the parties look the papers over and try to find any corrections that can be made because buying a house is kind of a big deal.

Just a quick tip on things that could be going on that can be made aware of. Whenever someone puts a document in front of you, read over it carefully to make sure that the Realtors didn't miss anything because it does happen. We're not robots (not yet but Steve Jobs is working on it) and we do make mistakes from time to time when helping you find Albuquerque Real Estate.

Important Albuquerque Real Estate News!

2011-06-07T14:31:00.000-07:00

I have been told by my lender that it is very likely that FHA will lower it's loan limits for Albuquerque homes for sale to $200,150 on September 30, 2011! Currently the FHA loan limits for Albuquerque real estate is $271,500! What that means is roughly 60% of the current buyers looking in the Albuquerque MLS market will not be able to purchase homes$210,000-280,000 price range!! Sellers in that price range are looking to possibly loose 60% of the buyers that currently exist because those buyers will no longer be able to take advantage of the FHA program because of the lower limits on September 1!!

What to do? Well, if you are a buyer that will be utilizing the FHA program you should step up your house hunting efforts and buy now so you do not go past the September deadline. If you are a seller you should be very realistic on the pricing of your home so I you do not lose potential buyers that will not be available after the September deadline.

No one knows with absolute certainty that the FHA limits will or will not be extended. Those in the mortgage business anticipate the deadlines to be upheld. The way we see it is if your are going to buy this year then do it now, if you must sell this year then do it now as well. You can't go wrong unless you pass the September 1st deadlines and the limits are lowered.

Our desire is to be your trusted Real Estate Advisor, and to pass useful information along as we hear it. As always, if you need additional information please remember to contact "The Albuquerque Real Estate Group"

Albuquerque Real Estate - to pre-inspect or not

2011-06-01T12:12:00.000-07:00

I was recently given advice to have listings pre-inspected before they hit the Albuquerque MLS which, at first, was a foreign idea. Several questions went through my mind like "But the buyer is suppose to pick the inspector. That would be a waste of my seller's money" or "Buyers will think that we are bullying them into using our inspector." All legit reasons, right?

Then it was explained to me that a seller, by knowing what is really going on with their home, can take alot of the post-inspection negotiations out of the buyers hand. In other words, a seller by knowing that the electrical panel needs to be replaced (for example), can prepare for that way ahead of time and not have to make a quick decision or come down on price. The buyer is less likely to back that seller in a corner and they can head the problem off at the pass.

Now, here is one catch that I found with that whole scenario. If the inspection is given to the to the buyers before an offer is made, a buyer can sit down, read the inspection, then say they want the electrical panel replaced and still allow a separate amount for a repair allowance. If the inspection was done after the offer was made, the the repairs could be negotiated out of the repair allowance, not as a separate cost to the seller.

Now, if its a big item like a faulty electrical panel or a bad sewer line, chances are the seller is going to have to replace that item any way. These are just a few thoughts on the whole "pre-inspection" concept for Albuquerque Real Estate.

Local flavor - Albuquerque homes for sale

2011-05-11T09:00:00.000-07:00

We put ranch on ours..

It might sound strange. I don't know what you do where you come from, but we dip our pizza in ranch dressing and it is delicious! I will have words with any one who says different.

When I am out and about showing Albuquerque homes for sale, one of the "go to" places I like to take clients is Dion's Pizza. Its the kinda place you go to when you don't feel like coming up with something to eat for dinner. Local baseball teams, basketball teams, football teams and the like all flock like the salmon of capistranoto (I know....I know. It just felt right.) to Dion's for that after game nawsh. This establishment is good and consistent, which, in my opinion, is key in a restaurant. The green chili is hot and the ranch is cool. It is the perfect yin and yang. I often find myself surfing the Albuquerque MLS while partaking in the fruits of the establishment.

If pizza isn't your thing, Dion's has several hand crafted, custom, fire roasted sub sandwiches (doesn't that sound fancy!? I made most of that up!) and crisp, cool, colorful salads to choose from. If they served microbrew, I might consider a second career. Until then, I will just enjoy what they are good at...PIZZA!! And I will stick to what I am good at, selling Albuquerque Real Estate.

Albuquerque Homes for Sale - what is a buyer's "job"?

2011-04-29T09:00:00.000-07:00

It may sound strange, but a lot of buyers are not quite sure of their specific role in the whole buying process. Some think that when they look at homes they must crawl all over the property and do an inspection right then and there, even when they know the home is not "the one". And I get that. It would be like me opening the hood of a car and acting like some kinda gear head with x-ray vision that can see right into the engine block and determine the condition of the piston rings...well, maybe that's a guy thing, but you get the idea. I often see people bring their own flashlights and crawl up into the attic and I have even seen buyers actually crawl right into a 80 year old crawl space only to find the remains of those who came before them....I kid! But they actually do, on occasion, crawl under the home. I felt it necessary to discuss my ideas on this briefly, just to throw a few ideas out there to any would be or current buyers.

I believe that when looking at Albuquerque homes for sale the buyer's job is pretty simple and actually should be fun - find the home that suits you best and just fells right. It sounds weird, I know, but that's usually how it happens. A person can just walk right into a home and know that it is the home that they will buy, almost immediately. The way I can usually tell is when the buyer goes nuts pointing out all the good rather than the bad and is actually gitty or they get completely silent and just absorb the home. Its pretty sweet!

So, let the professionals crawl under, over and through the home and get their overalls all dirty. Its what they get paid for. And let your Realtor scour the Albuquerque MLS. We are there so you don't have to bring your flashlight. All you need to do is view homes and just relax and let us do what you have hired us to do. Make us at least feel useful! Please! You will find the right home. It just takes a little time but it is out there waiting for you!

Thank you buyers of Albuquerque homes for sale! Your Grrrreat!

2011-04-27T09:05:00.000-07:00

I absolutely love helping people find Albuquerque homes for sale that appreciate my efforts! I truly have been fortunate lately with the quality of buyers I have had. Nothing gives me more pleasure than to work hard helping buyers search Albuquerque MLS, set up appointments, sacrifice Sundays then have them say "Thank you. I know you'd rather be doing something else with your weekend." Guess what Mr. and Mrs. buyer? Other than hanging out with my family, there really is no other place I would rather be than helping you find a home (ok. maybe fishing.). And if you have told me "thank you" and that you appreciate my time, there really isn't a whole lot I won't do for you. And that is the truth!

Now, every now and then we Realtors get a real stinker who hires us then tries to tell us how to do our job because they have read a bunch of garbage on Yahoo or have friends who took a class in college that discussed real estate for two weeks. I say find the positive in this situation and hold them right next to your good clients and feel even better about them. Its the stinkers that make me feel even more fortunate about the buyers that really need and appreciate my time and professional opinion.

So, thank you my buyers of late (I don't really talk like that. I heard it on Lord of the Rings and thought it sounded cool)! You really make my job a great one and there isn't anything else I could think of doing for a living other than helping you find your new home....OK., maybe fishing....

Albuquerque Real Estate - the cogs that help you move

2011-04-23T09:00:00.000-07:00

Many people get a glazed look over their eyes when I try to explain all the people involved when it comes to purchasing an Albuquerque home. I can tell that many check out as soon as I get into explaining title and what escrow means.

I don't blame them. I would check out half-way through the conversation too, if I wasn't talking.

I try to explain it as 3 main cogs of a machine that is driven by several other cogs within, and the buyer is steering the machine and making all the decisions.

As the Realtor, my job is to give expert advice, negotiate and try to avoid as much drama as possible so my clients can have a transaction as smooth as possible. With me comes an assistant and office managers. These people make absolutely sure that my paperwork is in perfect order in case something comes up to where we need to refer to the original deal. Also, within the Realtor cog, are the inspectors. Times are scheduled and these fine men and women crawl all over the home to make sure that you are in the best position as possible before you move in.

The Realtor's team mainly consists of the Realtor, an assistant, the office staff, the home inspectors, and repair men... if anything needs repair.

Now, on to the lender. The lender and his/her team is responsible for making sure you are qualified up to the very last day of escrow. If you tell them you want to buy a home and you are qualified to do so, they will be watching you and your finances VERY closely. So, please, don't go out and buy a car or even a TV.

The lenders team mainly consists of the lender, an assistant, the processor, and the underwriter.

The title company is usually the most quiet unless they find something that is defective on the title itself (possibly a lien which comes in handy for Albuquerque foreclosures). They also make sure the monies go where they should, and that everybody who has worked hard on the transaction gets paid. Without the title company, we all would be lost under a mountain of paper and confusion, flopping around like fish out of water. At least I would be (no pun intend!)

The title company mainly consists of the escrow officer, a pre-closing assistant, a post-closing assistant, receptionist and lawyers on staff for "emergency" situations...which can flare up at anytime.

So, that's about 14 cogs total that are helping you buy Albuquerque Real Estate. That's before you even get in your home and begin to buy new furniture and decorate. (and that TV now, if you still want it!)

Albuquerque Real Estate Neighborhoods - Nor Este

2011-04-21T09:00:00.000-07:00

What I really enjoy about the Nor Este subdivision in North Albuquerque Acres West is that it is probably the oldest subdivision, which was built by Presley Homes (although Sivage snuck a few in there), in a newer, up-and-coming area with in the NE heights. Located north of Paseo del Norte and east of Wyoming, Nor Este flourishes with large, mature foliage which is hard to find in the North Albuquerque Acres area. Several of the newer homes have small, saplings trees and xeriscape for the landscaping and, although that is nice, Nor Este is unique in that the trees and landscaping are much more grown than the newer homes. Looking at a satellite image of this area, one can see that Nor Este is an oasis of sorts.

Nor Este also benefits from the school districts. Some of the finest in Albuquerque are found in Nor Este which also makes this area a very family oriented subdivision, so drive slow! :) The Schools are North Star elementary, Desert Ridge middle school and the infamous La Cueva high school, home of the Bears.

The area in which the subdivision rests is in a great proximity to the I-25 and Paseo del Norte, which is a booming area of new commercial activity. It is great for shopping and some entertainment (which we hope will get better with time!). There is still a lot of vacant land along Paseo del Norte and the residence speculation is always a good conversation for conversation!

There is Albuquerque Real Estate for sale in this area. Call your Realtor if you are interested in seeing any of these homes!

Is it too soon to break open the Bubbly?

2011-04-20T13:20:00.000-07:00

How beautiful on the mountains are the feet that brings good news! Boy this news sure sounded good this week! Did you see the cover story on Fortune Magazine for April "Real Estate is Back!" Wait...what did they say? Real estate is back? Sure sounds good doesn't it? But is it time to have the end zone celebration! That maybe a little premature...the article sure caused some response in the real estate industry. You should have seen all the Angry Birds (Couldn't help the pun!). Most seemed irate to even be thinking of any kind of recovery! Could we just hold on to the glee for just a little while? Sure, jobs are needed for sustained recovery, sure real estate is realizing negative appreciation in most of the country, sure foreclosures are happening everywhere, but is there anywhere I can hang my party hat?

Those that know me know that I am not an economist. They also know I tend to think of the glass as half full. But as I look around I do see some positive things occurring in the Albuquerque real estate market.

First there are more people able to achieve the American Dream of home ownership because of the entry level pricing. In fact there are more people able to buy upward because the average price has dropped to the most reasonable levels since 2001. That seems like a positive to me!

We have all heard that interest rates are really low.....go look.....really.... go look because they are really low! That means lower payments and more people able to qualify. That seems good to me as well.

In Albuquerque, more people seem to be out looking and the best priced homes in the best condition are being purchased. They inventory is becoming less and less....

Lastly (but there are plenty more reasons for me to be optimistic!) it just feels better. Remember that "perception is reality" thing?

Do you remember a fellow named John Paulson? He is the fellow that sold his real estate inventory when everyone had that euphoric feeling and thought that the real estate boom was going to last forever? Yes...that's right he made a fortune! During the last quarter of 2010 he is quoted as saying "This is the best time in 50 years to buy a home. If you don't own a home, buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home." September 27, 2010

Should we break open the Bubbly? No, perhaps not yet, but it sure is beginning to feel like we are back in the game. Well...the game hasn't actually begun but I can hear the players beginning to warm up!

Congratulations to all who are ready to begin to take advantage of this wonderful opportunity called the American dream! You are making one of the smartest moves of your lives!

If you are thinking of looking at Albuquerque Real Estate for your next real estate investment give us a call we would love to help you.

Albuquerque Real Estate energy

2011-04-19T13:02:00.000-07:00

I thought I would write real quick on the "feel" of the market on this end. People are constantly asking me whats going on in the market and they don't necessarily want stats. They just want to know what I am seeing in the Albuquerque Real Estate market and what I am seeing seems to be positive.

Buyers seems to be coming out and in full force and they are not messing around. If they do, they often loose out on great deals. The general media has been gracious enough to bless us with their optimistic outlook on the real estate market in general. I can't help but to think this has had something to do with buyer's confidence. Once again, interest rates are low and inventory is high which makes it a great time to buy (that has a nice ring to it!).

So, bottom line (from what I can see), buyers are out there buying. If the home is priced right, it will fly right of the shelf! The good ones definitely are not lasting. Think of buying? Now is the time.

If you like it, BUY IT. - Albuquerque Real Estate

2011-04-13T10:07:00.000-07:00

I keep running into this time and time again and felt it necessary to mention it for anyone who cares. The pendulum seems to have swung the opposite way concerning the seller/buyer mentality. During the real estate "boom", it was an amazing seller's market. It was pretty much put your house on the market and name your price then watch people fall all over themselves to buy your home because all they had to do was fog a mirror to get a loan.

Everyone felt invincible.

The bottom fell out and now the it is a buyers market, but no one really feels invincible now...

Inventory is up and Albuquerque Foreclosures are on the rise. Short sales are throwing a wrench in the works and buyers think they can come in a low-ball sellers to the tune of 10-20% off the sales price. Its taking 3+ tries to figure out its not working out quite how they read on yahoo and CNN. Albuquerque Real Estate sellers, including the banks, are not giving these homes away. In reality, homes are selling 3-8% off the asking price and the price range and area certainly will determine that percentage.

"So what does that mean if I want to buy a home now?" Well, since inventory is in fact high, you need to consider that you, Mr. & Ms. buyer, have competition. When a good home hits the market and the price is good, you need to realize that you are not the only one looking at that property, whether it be High Desert homes or North Valley homes in Albuquerque. If it fits your needs and you are in the market, jump on it! Because someone is either in front, behind or right along side of you.

Albuquerque Real Estate. More or less than meets the eye.

2011-04-10T16:18:00.000-07:00

Another thing I run into when showing Albuquerque Real Estate, including Albuquerque Foreclosures, is people's opinions of what they see in a home as far as condition. Over and over again people will see a hairline crack in a slab of concrete in the back porch and think the home has structural issues. I'm not here to tell you they are wrong but what does need to be made clear is that there are inspectors whose job it is to look at those very things. Rely on that and not speculation.

I will be the first to point out an issue with a home if I think it is crucial to the integrity of the home (the picture above might be a issue. Yikes!), and your Realtor should do the same. If there is a diagonal crack at several corners of different windows, the buyer should be made aware before an offer is made (Especially with a foreclosure since there is not a seller's disclosure available). Because, again, your Realtor's main goal should be making your experience a pleasant one with the least amount of problems. If you want to dive in head-first on a home that is sliding down the hill, thats o.k. too. It is ultimately your decision.

My point is, leave the inspections to the experts, don't assume. If you don't like the home, that's ok. Move on to the next. Your home is out there and we can help you find it. Cracks and all!

Everyone's advice regarding Albuquerque Real Estate

2011-04-08T09:00:00.000-07:00

One of the biggest hurdles I run into as a Realtor selling Albuquerque Real Estate is the battle between a client's advice from friends, neighbors and co-workers regarding the process of buying a home. Everyone seems to have a story and they try to relate or apply that story to another person's situation. I, myself, am guilty of doing it. We all like to share articles that we have read from Google about the market in Arizona, Las Vegas NV, Detroit and any other depressed areas. The worse the area, the longer the conversation seems to go. The more we read, the more we like to think we are experts on the situation. It just seems to be human nature. Each area is very specific...

Now, here is where that advice can be a huge problem -

Say I get a buyer and we have discussed that buyer's goals. We have discussed the advantages to buying Albuquerque foreclosures and homes from independent sellers. We have discussed the problems with the instability of short sales and the rise of interest rates. We discuss timelines and financial concerns and so on and so on. After all these things have been discussed and quality time has been spent on coming up with a custom plan, along comes Suey Creamcheese or Joe Milktoast with her/his advice of how things should go for her friend, co-worker or neighbor and the plan is in jeopardy.

Now, I realize that a friends advice can be a valuable thing. But who is the professional here? Who is the one that has fought and fought to see many transactions through to the end and the one who knows and has a sense of when transactions fall apart. Who is the one who has seen the ups and downs of the market and been at battle with all the new changes and regulations? Who is the one that MUST continue to take classes in order to better themselves in an carry their hard earned designation? YOUR REALTOR.

Let your Realtor help you. That is why you have come to him or her. Do you go to your friend for accounting advice? Medical advice? Then why would you treat an investment as big as a home any different?

Every transaction is different but the seasoned Realtor, not the friend, co-worker or neighbor has the experience to give you a much higher success rate when purchasing a home. We want your transaction to go as smooth as it possibly can. Why would we want anything else? My goal is for you to walk away and tell that friend, co-worker or neighbor how amazing your experience was and how much I helped you buy your home. We both know your friends mean well, but YOU are buying the home, not them. Your Realtor is trained to help you do just that. --It is our job--

First Quarter look at Albuquerque Real Estate Activity

2011-04-06T09:10:00.000-07:00

To answer your questions about how the Albuquerque real estate market has responded in the first quarter of 2011 it seems that prices still are trending downward.

In terms of supply and demand it seems to be getting cooler with more inventory coming on the market relative to the sales demand. I have noticed that during recent weeks the demand has been a bit more active. Houses coming on the market seem to be larger and newer. Spring always triggers the instinct to buy homes and I think this will be no different this year! It is still the American dream to own a home!

During the first quarter the pro-dominant price of those going under contract was below $200,000. No surprise here, this is the range that the majority of buyers can qualify.

What does this mean to a buyer? Well, while demand is down overall, if you are buying in the most active price range don't expect sellers to be too excited about negotiating from their prices because there will be more that you looking to buy! If you are a seller it is advisable to price your home closer to the price you expect because you don't want to lose any opportunities to receive offers!

On the other hand, if you are in the range above $200,000 and you are looking at buying, the final sales price may still have a little room to negotiate. The higher the price range the smaller the pool of buyers.

Finally, remember this: all this means nothing if you see the home of your dreams. Don't get caught up in trying to squeeze every penny you can from the transaction. Simply purchase the home and be happy!

If I can answer any questions please don't hesitate to ask!

Tim Fish

Albuquerque Real Estate - Foreclosure inspection thoughts

2011-03-31T16:13:00.000-07:00

Now, before I start on this I want to make it clear that this information comes only from my experience. Your's may have been different but I think the information provide can be agreed upon.

When purchase an Albuquerque Foreclosure in our Albuquerque Real Estate market the term "as is" comes up again and again. If you are in the middle of a foreclosure deal and this has not come up, ask your Realtor right away because it should be crystal clear to a buyer. As a buyer, there should be no doubt in your mind as to what this means. Basically, it means the bank is selling with no warranties expressed or implied.

People ask me time and time again, "what will the bank fix on this property?" and the best answer is, nothing. That way there are no false hopes or expectations. Does this mean that when the offer is accepted you are locked into that property and have no recourse? Absolutely not! If the inspections come back with something bad and you are not comfortable moving forward, then you should be able to take your earnest money and find something else (unless you have made your earnest money non-refundable in the offer which could happen in multiple offer situations).

Now, some banks have been know to repair an item if it is required in order to obtain a mortgage loan. For example, if there is a roof leak in the home and the buyer is utilizing his or her VA eligibility, the bank may choose repair that item knowing now that it is a lender requirement. The bank should know then that if they do not fix the leak, they have just cut off buyers that qualify for a VA loan.

So, if you don't like the color of the cabinets, the bank won't paint them. Big ticket item may be considered if the mortgage could be in jeopardy. That's the bottom line...for now.

Thanks for reading!

Why its good to have a Realtor when buying Albuquerque Foreclosures - offers

2011-03-28T15:57:00.000-07:00

I know, I know. Another foreclosure blog. Sorry. Its a hot topic right now and will be for a while.

It probably goes without saying, but buying an Albuquerque foreclosure, like any property, can be tricky. There are several things to be aware of. It's my opinion that having an experienced Realtor and mortgage professional can save a person quite a bit of money and agony.

One thing buyer's should ask is what would a reasonable offer be. I can't tell you how many people read a blog or article on the internet and think they can low ball the bank into selling a property. Here's something that everyone should remember - the bank is not stupid. They know what the market is and what properties are going for in certain areas. They get broker price opinions (or BPO's) from several Realtors to produce a competitive listing price. If they don't see the property moving within a certain time frame, they will reduce the price by a certain percentage.

So, what could a good offer be? Like I said, consult your Realtor (or me if you don't have one). And don't be surprised if the offer should be 5-8% less than the list - not 25-50%. If they were giving them away for that much off, we would all be in (more) trouble. Also, don't be afraid to ask for the seller to pay for a percentage of the purchase price toward closing costs if you are not in a multiple offer situation. A lot of the time the bank will consider it. And one more thing. If you really like it, chances are that someone else likes it as well. Make your move! Don't wait if you think its the one for you.

Bottom line - When buying Albuquerque Real Estate, consult a pro. Like you would consult a doctor if you had sharp pains in your brain because without the right help when buying a home, you could very well feel that same brain pain.

Client benefits (Sandia Tram!)

2011-03-22T18:23:00.000-07:00

One of the things that locals tend to forget about when living in a area long enough (in my case, all my life) is the unique, local features that the area can offer. One of Albuquerque's unique features are the Sandia Mountains and you can't mention them to someone moving in from out of town without talking about the Tram.

Our Sandia Tram has taken 9 million passengers to the top the Sandia's western, rugged face in its almost 44 years. Any one that has had the opportunity to travel a flight on the tram can vouch for the amazing scenery.

West, across the Rio Grande and volcano fields Mt. Taylor can be seen more than 100 miles away. To the west Redondo Peak stands tall in the Jemez Mountains rising up from the caldera known as the Valle Grande. And to the east lies the heavily wooded backside of the Sandias and views of the Sangre de Cristo Mountains and our capital, Santa Fe.

So, if you have bought any Albuquerque Real Estate from me (that includes Albuquerque foreclosures), I can provide you with FREE tram tickets so you can decide for yourself if the views are as good as I remember (No. I haven't been in a while. I'm local!). Or, if your nice and just ask, I can hook you up too. Just remember me if you know anyone buying or selling Albuquerque Real Estate!!

FHA Insurance Premium Increase

2011-03-10T09:56:00.000-08:00

I just wanted to let you know about the insurance premium increase for buyers buying Albuquerque Real Estate that are planning to use an FHA loan. As of April 18th the premiums will increase slightly but buyers should be aware. If, for example, a buyer was looking at a $175,000 loan amount, the payment will increase by about $36 per month.

However, this will help strengthen FHA which is important since some estimates show that they do carry 50% of the current loans generated today. Even though FHA is increasing this premium, their products are still some of the best out there are offer low down payments, even for those looking into Albuquerque Foreclosures. Rest assured that the FHA loan is still a viable option worth considering. just be clear on the guidelines including the condition of the home. you Realtor should be able to help with that.

If you have been considering buying, now may be a good time!

I found a REPO! How can I buy it and finance the repairs?

2011-03-08T10:35:00.000-08:00

So, you've found a few Albuquerque Foreclosures homes that could be great deals but they could have a significant amount of repairs and upgrades needed before it will be a great home for you. You have the cash for the down payment but not enough extra to make the renovations! Prior to today I would have said that this would have been next to impossible to accomplish if you didn't have the extra funds.

Today I learned of a program that allows a purchaser to obtain a mortgage for Albuquerque real Estate and finance the repairs. The loan would be based on 80% of the improved appraised value!

That's correct! You may be able to buy an Albuquerque Foreclosure home and do the rehabilitation in one loan! There are a couple of requirements: it must be owner occupied, the loan cannot exceed 80% of the improved appraisal price, the loan cannot exceed (Catch this!!) $1,000,000, and the buyer must have sufficient income and credit to qualify.

If you wished you had the money to take advantage of some incredible bank REO properties this may be just what you have been looking for.

For more information please contact me at TheAlbuquerqueRealEstateGroup.com.

Got Splinters?

2011-03-08T09:06:00.000-08:00

Have you been riding the fence and have been qualified for an FHA loan to buy Albuquerque Real Estate or know someone who has, you may want to pay attention to what is going on in the up coming months in Washington regarding the housing and recovery act.

The current loan limit for an FHA loan is $270,000, which was a temporary increase to provide some activity in the market. It did help but it will probably drop to $200,000. Allow me to repeat that for you. THE LOAN LIMIT FOR FHA WILL MOST LIKELY DROP TO $200,000 IN NM. Congress will make this decision before the sunsets on September 30th. So, if you are looking for the low down payment and want to finance more, right now should be a good time to buy. Not trying to use any scare tactics here. Just want to inform.

Bottom line, if you are seriously considering a home purchase and have been qualified for an FHA loan, please contact your Realtor and/or mortgage professional to see what actions should be taken and if this effects you. They should be more than happy to help. If not, call me!

What to expect when buying, "AIR"

2011-02-15T09:33:00.000-08:00

Time and time again, when selling Albuquerque Real Estate, buyers ask "What's next? What else is left?" when in comes to the entire process of buying a home. As many may know, buying a home can be as complicated as you want, but it can also fairly easy if you just let your realtor filter out all the stress. If your Realtor is dumping every little problem on to you, well....that's unfortunate.

I believe part of a Realtor's job is to make the entire process as stress free as possible. By this I mean he or she should not call you about every little thing that may go wrong or to complain about the other realtor, lender, inspector - you get the idea (unless you ask them to. A reason eludes me at the moment...). A good little acronym I like to use as a check list for buyers looking for Albuquerque homes for sale (and myself) is "AIR" (the picture provided is the only one I could think of. Sorry. I'm a product of the 90's!)

"AIR" simply stands for "A" - appraisal, "I" - inspections, and "R" - repairs. That's it. That's all. Once these three major things are complete, and you satisfy the lender and the buyer, then the rest should be in good shape.

With that being said, of course there are several details that could slow the process down. You could dissect a deal until you go mad. But couldn't you do that with anything? Like making a sandwich? You could sit there and worry about carbs in the bread. You could worry about calories in the dressing. You could worry whether or not the tomatoes and lettuce are organic. Did the pig die happy? Is the plate clean? What am I going to drink? OR, you could just make a BLT.

Importance of loan pre-approval BEFORE home search

2011-02-03T13:41:00.000-08:00

It seems that time and time again I will get a call from a willing buyer that is interested in buying a home, willing to commit to a licensed Realtor, willing to take the time to go see homes, and has not even spoke with a licensed mortgage professional yet (notice the word "licensed"). This is the very first step and most important step when finding a home to purchase. I tell customers that it really isn't fun finding the perfect home and then realizing you cannot qualify to purchase it.

When selling Albuquerque Real Estate, the very first two questions I ask a potential client is "are you currently working with a Realtor and have you been pre-approved for a loan?". It may seem a little forward and every now and then I get some resistance, but in the end it makes the journey just that much more clear. People who are working with a licensed Realtor soon realize that they should be asking their Realtor about the property and that they really should speak with a licensed mortgage pro if they haven't already.

Some don't quite know the difference regarding a "pre-approval" and a "pre-qualification", and rightly so. The stronger of the two and the most accepted is the pre-approval. With a pre-approval, you are telling the seller that you have spoken with a loan pro and have provided the preliminary documents to obtain a mortgage for the asking price within the offer minus the down payment. A pre-qualification can be obtained be just telling a loan officer about your financial situation and not give any documents to verify your information at that moment. As you can see, a person may "stretch the truth" are not know their current situation. For example, a person may think that their credit score is a 660 and when the scores are actually pulled, the middle score could be a 635. Is most cases this could be a deal breaker for underwriting.

Just a little FYI when searching for Albuquerque homes for sale.

Short Sales Vs. Foreclosures: What to expect when purchasing

2011-02-01T12:33:00.000-08:00

As more and more homes come into the Albuquerque Foreclosure market, the inquiries relating to these properties increase. Prospective buyers of Albuquerque Real Estate are identifying these properties as opportunities to get into a home at an attractive price. And rightly so! In most cases these properties are EXCELLENT investments! The holders of these Albuquerque Foreclosures do not want to keep them on their books and often have them priced to move quickly!

But in the midst of these homes for sale exists home owners which are attempting to sell at less than what is owed to the mortgage holders: short sales...

A prospective purchaser must be aware that often these properties cannot sell for the listed price set by the owner because the mortgage company that holds the first hasn't agreed to do so. Sure, the seller wants to sell but often the bank will not sell at even the listed price. Additionally, the process can take anywhere from 60 days to 9 months to close or even to get an acceptance. The entire process can be very frustrating to say the least! But, if you are patient (and willing to see many other opportunities slip by) you can negotiate a great price. If you are a buyer under a time limit (i.e., rate lock), I cannot recommend writing up a short sale.

Remember, the foreclosed properties mentioned earlier? These can be purchased within a specific time period and are priced to sell quickly by the mortgage holders themselves and there are no occupants in the home. The mortgage holders offer the properties "as is" so you will definitely want to get inspections done on these properties as there will be no seller's disclosure to review. Once you have been satisfied with the results of the inspections, you can move forward to closing, which should fall within the customary time frame of purchasing a home.

If you are thinking about writing an offer on a foreclosed property, be prepared to provide financial approval from a qualified lender or proof of funds, and an earnest money check.

People very often confuse Foreclosures with Short Sales. Be aware of what you are previewing to purchase and make your decisions based on your needs. Consult your Albuquerque Realtor.

Springtime real estate activity

2011-01-28T11:22:00.000-08:00

Personally, I love everything about spring. The green, new growth, the warmth in the air and summer fun right around the corner! And this year it seems to mean a little more than in the past few years for Albuquerque Real Estate. Realtors seem to be abuzz with the idea that the market will continue to slowly, but surely, tick up more than the following year. I think the entire country would love to see it!

I keep hearing time and time again from buyers wanting to buy Albuquerque homes for sale and that they are going to wait for spring to roll around before they get serious about purchasing a home. O.K., I can understand that. But are there advantages to buying now? You better believe it!

The inventory for Albuquerque Homes for sale is high and interest rates are LOW! That is what we know right now at this very minute. Will inventory increase in the spring? Probably. Will competition for buying Albuquerque Real Estate increase as well? Yes. Seems logical. Will interest rates increase...and increase...and increase? All signs point to yes.

A Realtor can not tell you what to do, and he/she shouldn't (if they are trying to tell you what to do, find another! Buying a home should not be taken lightly!). We can only advise. My advice would be to consider buying before the spring rush. But if you do wait, be ready for a little competition and possibly multiple offer situations accompanied with rises in interest rates.

Things are looking up in Albuquerque!

2011-01-21T12:44:00.000-08:00

The Albuquerque metro area has mirrored the national trend for sales of previously owned homes!

Closings leaped from 469 closings in November to 505 closings for December 2010. The median price of existing, detached houses was $178,000. This was a slight increase of $1,000 from November 2010. It should be noted that the median price (the price at which 1/2 the homes are above and 1/2 the homes are below) is considered the most accurate because it is less affected by activity at either end of the market.

Other good news regarding the Albuquerque Real Estate market is that when compared to 2009, the median price for Albuquerque homes for sale increased year over year for the 4th consecutive month, and the average price increased year over year for the sixth consecutive month!

2010 was the lowest point for closed sales in Albuquerque for a number of years, but the sales activity seems to be gaining momentum so far in January 2011.

If you are planing to buy a property, I would get in the market as quickly as possible to possibly avoid the springtime rush.

Advantages to Selling Albuquerque Real Estate ;)

2011-01-18T16:35:00.000-08:00

One of the advantages to selling Albuquerque Real Estate is finding the cities great little secrets before the word gets out. One secret that I was let in on over the past holiday season was an excellent microbrewery located in the downtown area of Albuquerque called 'Marble Brewery'.

If you aren't looking for Marble, you will drive right past it. The building itself is a very humble one story, cinder block structure with a patio in the front and the interior is very cozy with warm tones. Behind the bar you can admire the mash-kettle tanks and all the beautiful equipment they use to brew the ales on site (must be a guy thing but I think its neat to see!

Marble offers several micro brews as smooth or as hoppy as you want.

The ales range from a smooth, very drinkable "Wild Flower" wheat to an oatmeal stout, to a double IPA for the hardcore hops lovers! Marble also was just recognized in Draft magazines top 25 beers of the year for their barrel aged specialty Belgium ale. I highly recommend it!

Bottom line, I loved Marble and I especially loved that I got to spend some quality time with a few buyers that I helped find Albuquerque homes this past year.

I love my job!

Our New Albuquequerque Real Estate Website!

2011-01-05T02:39:00.000-08:00

Check us out!

We have a brand new website, and what we think is the absolute BEST search tool we've ever seen. You'll find big, bright photos, information by neighborhood, a complete list of Albuquerque Foreclosures, and more to come. Our Albuquerque MLS is so big, we felt like we needed a better way to present it and to help our potential buyers in finding the perfect home.

You can now search for all Albuquerque real estate, as well as Corrales real estate, Rio Rancho real estate, and any of the other surrounding areas. Check it out and let us know what you think!

If you signed up to have new listings sent to your email from our old site, we're afraid you'll have to cancel that and sign up again on the new one. But you'll like it so much better it's worth the trouble! We look forward to talking to everyone we've helped before, and all the new clients we meet soon! Thank you for choosing us as your Albuquerque Realtors!

Looking forward towards investments

2010-12-27T12:13:00.000-08:00

As this year comes to an end, many feel that that bottom of this tricky real estate market has been reached or at least can be seen. Whether this is true or not, I don't know.

What I do know is that in our Albuquerque Real Estate market, there are great deals right now. Inventory is high and interest rates are low. History has shown us time and time again that the maximum profits made in Albuquerque Real Estate are best when the buying occurs on the down slop or at the bottom.

By doing this the main mistake made by people in the "2005 era" (which was buy high and, with a little luck sell higher), can be avoided. Buy low, sell high. sound familiar? Luck should not have a place in this equation that several people (including myself) found themselves using.

A couple of great rules were brought to my attention by an amazing colleague of mine in a different part of the country. These rules should be followed when considering an investment property and I felt were worth mentioning.

Focus on quality properties and areas
Don't have tunnel vision on foreclosures and certainly not short sales. Some of the best deals are found the traditional way. Basically, Don't "pigeon hole" yourself. Look at all properties that fit the criteria.
Do your homework. Be sure to factor all things financial whether its taxes, utilities or HOA dues. Have you Realtor help!
Study the rental history and be conservative when evaluating the cash-flow potential.
Be sure to work with a Realtor that has your goals and vision in mind. Make sure they are in it just for the sale. Its all about making good financial decisions!

Albuquerque Homes are an excellent opportunity to create wealth for the future! If you need any help or have questions regarding Albuquerque, Corrales real estate, or Rio Rancho real estate, please don't hesitate to contact us!!

LET'S HAVE A GREAT 2011!!!

Short sales getting better?

2010-12-01T15:38:00.001-08:00

So, I recently closed another Albuquerque Real Estate short sale. This one took a good 6 months which, to me, is pretty typical. It was basically 6 months of bank games that were a lot of fun! (can you see the sarcasm dripping from your monitor?) This one went through the lovely Bank of America's "equator" system. This system promises prompt, friendly and I assume honest service. The promptness...6 months isn't exactly ideal. Friendly...Some what. The assigned negotiator did give us his personal cell number because, due to appraisal service, the deal went right down to the wire (I'm talking hours to the wire). Honest...Even after the deal closed the bank wanted an additional $3k and, some how, the escrow officer was able to work around. Not to sure if the ball was dropped some where there be it seemed a bit suspect since it has happened to me once before. I'll let you decide.

I do hear conversations around the office about short sales only lasting 1.5 to 2 months. I guess it really is a learning process. If the listing Realtor knows how to get a hold of a live person and can to get quick responses, these short sales seems to go fairly smooth. It does seem that banks are finally getting better at understanding how these work. The one thing, I have to admit, that I feel uneasy about is that these homes are mainly sold as is. I warn my buyers over and over about this. Inspection costs also fall on the lap of the buyer which can go well above $1k. That's a jagged pill to swallow for me.

So, bottom line. Should you avoid short sales still. I personally don't think so. Just be prepared for some "uncomfortable situations". Your Realtor should be covering EVERY aspect of a short sale and the possible consequences.

I love my job!! ( that was not sarcasm! ;))

Reasons to use an Albuquerque Realtor

2010-11-05T14:27:00.000-07:00

I have recently been trying to help a good friend in other state sell his home. He has accepted a job and will be relocating and he has been bombarding me with several questions on how to choose his Realtor and should he try to sell himself. I cannot remember ever being in this type of situation - helping a friend find a Realtor...that wasn't me!

My friend is not necessarily a frugal man but, like everyone, enjoys a good deal so he hit me with his ideas of beating down a Realtor for a commission cut - a.k.a, commisionectomy (because it really does hurt that bad!) or selling the home by owner. I told him that unless I am helping a seller find more Albuquerque Real Estate or have several deals with that person, I do not cut my commission. And if I did, what would that say to the seller? That I will settle for less when it comes to my own money? If a Realtor cared so little about his own money, how much more could that Realtor really care about their clients' money when it comes to negotiating?

Any Realtor can take a commission cut and do the minimum to sell that home and anyone can try to sell their own home, put a sign in the yard and enter it into MLS. That all seems like a great idea on paper, but having expert advice readily available when selling the biggest investment in most people's lives is more than worth the 6% most people agree to pay. Realtors have been around for over 100 years and must be licensed and continually educated and tested during their career.

People don't try to negotiate an accountant's fee. And even if people did do that, do you think that person's tax return is going to be a priority to that accountant? It's worth the extra up front rather than a huge amount later to the IRS.

Here is an example I heard recently: People who go to Ethan Allen know that the furniture in that store is expensive but they also know that it is a quality product. People who shop on Ebay realize that they are taking a chance on the furniture sold by the owners who are only experts in sitting on that couch. These people are willing to take the chance of buying a couch that could have been a dogs bed for 12 years in order to save some money....and then finally end up buying a couch from Ethan Allen. Wouldn't it be better to go with quality service, expert opinion and protection right from the get go? I also believe that this attracts serious, qualified buyers who expect the same quality service rather than attracting those who are not screened (your Realtor should make sure all buyers are qualified with a mortgage professional) and just looking for a quick deal? Just a thought.

I love selling Albuquerque Real Estate!! Thanks for reading!

New 3.8% Tax scare

2010-09-22T14:10:00.000-07:00

New tax on home sale profits-

Just to clarify something you may have heard or received in an email about.

There has been talk about a 3.8% tax on any profit made on a home sale which was hidden in the recent health bill. For example, if someone sold their home for $350,000 and, after closing costs, had a profit of $100,000, $3,800 would go to Uncle Sam. As I understand it, this is NOT true. This tax only applies to any one individual making over $200,000 a year (or $250,000 if filed jointly) and only if that profit exceeds $250,000 (or $500,000 if filed jointly). Any profit made after the initial $250,000 will then be hit with the 3.8%.

So, if a single person that makes $201,000 a year sells a piece of Albuquerque Real Estate and walks with $350,000, he/she will have to pay the $3,800 ($350,000 - $250,000 = $100,000 x 3.8% = $3,800). This is how I understand it. If you need further clarification, please consult your CPA.

This all just seems to be another media scare tactic. If you receive any type of email that you find hard to believe, I suggest researching it before you share it with your friends.

Thanks!!

New Purchase Agreements for Albuquerque Home Sales

2010-09-20T22:17:00.000-07:00

Be very care when using The New Mexico 2010 revised Residential purchase agreements! Be very, very, careful!

When I came home Friday night I updated my wife about my day. During the course of this particular day I learned about the new purchase agreement that was placed on the state site for immediate use. At lot has changed. This form places the burden of inspections entirely on the purchaser. (Well, that isn't entirely correct, there is a very small area dedicated to Seller paid inspections).

The buyer is now responsible for not only choosing the inspector (that's ok), but paying for the inspection. Nothing is mentioned about setting up the appointments for the inspectors. It causes me to wonder how this all is going to take place! This really needs to be negotiated clearly on an addendum!

My wife, being the intelligent lady she is, pointed out that many in our industry are probably not even aware of the changes to the purchase agreement and that I needed to be aware as well.

If you purchase a home, condo, or Albuquerque foreclosure, be sure to utilize a Realtor that is updated on the new Purchase Agreement. We would love to help you buy real estate in Albuquerque, New Mexico.

I love my job!

From the mouth of my Babe (er…Wife)

2010-09-13T00:49:00.000-07:00

I came home from work last night and asked my wife what she thought the most important item to do was when placing a home on the market. My wife is a nurse by profession but right now she is caring for me and our three young children. She has no real estate experience. The first thing on her list was to verify ownership. I thought that was really a good idea so I quickly made a mental note! Then she said she would measure the house to make sure of the size.

The size of a home is important! Many times the value is based on the heated square footage of the house.

So what should every buyer do? Have someone measure the house or make the seller verify the size before the buyer closes. Most of the time, it costs less than $75 to have this accomplished.

As a seller, adding a scan of the floorplans to the MLS listing might give an extra thought to a buyer looking at Albuquerque homes for sale.

My wife is really smart, good looking, and I really hope she reads this……

Selling real estate in Albuquerque is great!

I love my job!
***
Posted by Tim :-)

The Albuquerque Lifestyle

2010-09-07T05:55:00.000-07:00

Albuquerque - What a place!

Selling Albuquerque real estate is a wonderful job. But certain times of the year it is really cool! Whenever clients come to town to visit our city and purchase their next home, I like to look around to see what events are occurring that we could see. Obviously the balloon fiesta in October is tops on the list, but all during the summer months there are events happening that are really fun!

The Isotopes play all summer and into the fall, and this is a wonderful way to watch some great baseball and enjoy a cold one with a hotdog. It’s the next best thing to watching the pros!

The concerts at the zoo are great for all the ages and occur throughout the summer months. My family enjoys the zoo and all they offer all summer.

My December clients have all been impressed by the luminaria, but the one place they just have to see during Christmas is the Old Town/Albuquerque Country Club Luminaria Walking Tour on Christmas Eve. Christmas is special in our great city.

I have learned a long time ago that I don’t just sell homes; I sell Albuquerque!

I love my job!

Posted by Tim
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Search our Albuquerque MLS

Great places to eat in Albuquerque New Mexico

2010-08-30T18:20:00.000-07:00

Last week while showing Albuquerque real estate I was reminded that we are so fortunate to have so many fine places to eat.

My clients and I stopped by Sushi and Sake on Academy NE and Wyoming NE. The service was great and the variety of “specialty rolls” was unbelievable! We were able to socialize, eat, and talk business without interruption.

Another great place to take clients for a break during a day of looking for homes for sale in Albuquerque is Papa Nachos on 7648 Louisiana NE. It is a family run Mexican food restaurant with different levels of “heat”. It was an adventure with wonderful results! My out of town clients said it was perfect!

I love my job!
Posted by Tim

The Albuquerque Real Estate Market- What Is It Going To Do?

2010-08-23T16:32:00.000-07:00

As a real estate broker in Albuquerque, New Mexico I hear this question or similar questions on a daily basis. My remark is really simple now; “Why do you ask?”

If it is casual conversation they are seeking I can point to many positives that have occurred recently; low rates, steady sales, the focus on reviving sales nationwide. If it’s conversation that feeds the negative beast I simply do not engage.

But if the person asking the question tells me they need to sell or buy a home I always give them words of encouragement. The market is what it is. Who knows, this could be the new norm! I try to discover their needs, offer real life solutions, and hopefully they will feel comfortable enough to allow me the opportunity to find them a home in Albuquerque, and be the real estate broker to help them realize their real estate dreams.

I love my job!

Posted by Tim Fish

Snake, Rattle, and Roll in Albuquerque

2010-07-27T10:15:00.000-07:00

American International Rattlesnake Museum

One of Albuquerque's unusual attractions sits on the edge of its famous Old Town. The American International Rattlesnake Museum may not attract some folks, but 50,000 plus people a year seem to be drawn to get up front and personal with the museum's scaly residents.

Bob Myers opened his museum almost 20 years ago, and says rattlesnakes have earned an inaccurate reputation for being agressive. He says most rattlers will avoid people and will only strike if cornered or threatened.

There usually are around 34 rattlers on display at the museum, which is home to a number of rare species like a striped western diamondback rescued from a rattlesnake roundup and a viritrox, which is a cross between a prairie rattlesnake and a diamondback. There are also a number of non-rattlers, like the tri-colored Arizona king snake and a striking (no pun intended) white Texas rat snake - not to mention a number of New Mexico natives that don't fall into the snake category, like a friendly faced Gila monster named Mollie and a whiptail lizard.

The Rattlesnake Museum has a gift shop, and all kinds of displays full of reptile-related artifacts like snake-oil bottles and such. If you are one of the few who like snakes, or are just curious about our rattling residents, it's an interesting way to spend a day with the kids.

American International Rattlesnake Museum

202 San Felipe NW Suite A
Albuquerque, New Mexico 87104
(505) 242-6569
www.rattlesnakes.com

SEPTEMBER-MAY HOURS

Monday-Friday...11:30am to 5:30pm
Saturday...10am-6pm
Sunday...1pm-5pm
(School Groups...Mon-Fri...10-11:30am)

SUMMER HOURS
Monday-Saturday...10am-6pm
Sunday...1pm-5pm
Closed Major Holidays, Field Trips and Animal Rescues

Kids $3 • Adults $5 • Seniors, Military, Students $4
###
We're experts about our city, from attractions to Albuquerque Real Estate!

Great News for Members of the Military, Foreign Services, and the Intelligence Community!

2010-05-25T01:47:00.000-07:00

Congress has acknowledged circumstances for members of the military, foreign service and the intelligence community that extend both the $8,000 tax credit for first time homebuyers and the $6,500 for qualified repeat buyers! If you're looking for a home at Kirland AFB, this can help.

Normally, homes that are resold or that cease to be used as a principal residence within three years of the initial purchase are subject to recapture of the tax credit. However, qualified service members who sell or move from a tax credit home within the three years of the initial purchase due to Official Extended Duty may be exempt from the recapture rule.

Additionally, for qualified service members who are ordered on a period of extended duty, the deadlines are extended from April 30, 2010 to April 30, 2011 and closed by June 30, 2011! Official extended duty means any period of extended duty outside the United States for at least 90 days between December 31, 2008 and ending before May 1, 2010.

So, if you're in the military, foreign service, or intelligence community, and you were on official extended duty for missions outside the United States for 90 days or more beginning December 31, 2008 and ending May 1, 2010 you may be able to take advantage of the extended Tax credits of $8,500 or $6,500.

Visit our website and look through the Albuquerque MLS, or just learn about the different neighborhoods. We can help you with every facet of your home buying experience!

6 Tips to Improve Your Home's Sales Appeal

2010-05-04T16:17:00.000-07:00

From Southern Living

We've all heard the advice about staging your home's interior to make it warmer - much of buying a home is based on the emotions of the buyer. A recent article on MyHomeIdeas.com listed some quick and easy ideas for sprucing up the entrance of your home. Every small spruce-up helps to add more money when you sell, and a little bit of effort on your part may get that contract in your hands sooner!

Trim your shrubbery and add new ones to help with overall yard appeal.
Add shutters to the windows. Don't buy cheap plastic ones, either. Toss just a few more dollars in the purchase and get wooden ones. Nice coordinated shutters dress up any home!
Build a window box. Whether under a window or complimenting your new shutters, nothing adds to the beauty of a home more than a huge window box bursting with gorgeous blooming plants. Be sure to make plenty of drain holes in the bottom so the water doesn't collect and drown the plants.
Add potted plants around the home's entrance. Inexpensive pots that match your trim is the key, and the placement counts too. Keep the plants in the walkspace low and out of the foot path. Place larger plants on the ground near the steps to accentuate the home's entrance.
Add dark mulch or pine needles to cover the bare spots around the plants and shrubs.
Fertilize, patch spots with turf, water more, and make your grass green and healthy. Be sure to keep it freshly mowed for the most inviting look and smell!

Just a little bit of extra effort can make your home look like a showplace, and get it sold faster. Ask us for more tips on dressing up your Albuquerque home for sale! We've got 35 years of experience in selling real estate in Albuquerque NM. ~Tim Fish

Albuquerque Real Estate News!

2010-04-15T13:02:00.000-07:00

Albuquerque Real Estate Sales are on the rise!

In March the local area housing market saw significant increases in home sales! There were 634 residential inits in March 2010 which represented a 36% increase over the same month in 2009! Additionally there were 1,077 sales placed under contract in March 2010 which represented an incredible increase of 44% over March of 2009! This was the highest number of pending sales since June 2007!

The median price dropped about 5% from $184,500 in March of 2009 to $175,000 for March of this year. The average price dropped slightly to $211,049.

The number of homes cureently on the market is down 4.7% from this time last year!

The market is brisk! Buyers are in the marketplace and sellers are selling. With today's interest rates this is nothing but good news for all involved!

Did you know that The Albuquerque Real Estate Group can place your home in the Coldwell Banker Legacy Welcome Home Magazine every month until it sells? Well, we can and we will!

Visit us at TheAlbuquerqueRealEstateGroup.com and search the Albuquerque MLS!

Albuquerque Homes May Be Saved By Reductions in Mortgage Balances

2010-04-14T03:47:00.000-07:00

In the newest attempt to stem foreclosures in Albuquerque and elsewhere in the country, Bank of America has announced that it will reduce the balance on some mortgages that owe more than the current market value.

In example some homes that sold for $200,000 during the housing boom may now be worth more like $150,000, encouraging homeowners to toss in their lost down payments and walk away in disgust. Bank of America says it will "forgive" some principal balances up to a maximum of $30,000, providing the homeowner is underwater at least 120%, or owes 20% more than the home is worth.

Since Bank of America bought Countrywide Home Loans in 2008, this has the potential to help a large number of Americans to keep their homes and hopefully prevent another flood of foreclosures as more of the negative-amortization and adjustable rate mortgages with baloons become due.

Here is how the program will work for an eligble mortgagee:

The bank will create a separate, interest-free "forebearance" account that covers a five year period. The $50,000 overage goes into this temporary account, and your new mortgage is based on $150,000 instead of $200,000. In some cases the interest rate can be reduced as well, resulting in much lower payments.

During the first year, if the homeowner makes the new, reduced payments on time, the bank will "forgive" $10,000 of the overage.

The second year, providing the house is still in an underwater condition, another $10,000 will be dropped.

The third year brings the same, providing the homeowner is continuing to make timely payments and the house is still over-mortgaged. This brings the amount "forgiven" to $30,000.00.

During the fourth and fifth years, your situation would be re-evaluated, and if you still benefitted from the reduced payments, they could remain the same. However, if the house has appreciated, or your principal balance is now under 100%, no more would be forgiven for that year. If home prices have not gone up and your mortgage is still more than the market value, they may elect to forgive $10,000 more these final two years until the total overage of $50,000 is met.

On certain negative-amortization mortgages, the bank may forgive the principal amount down to a 95% loan to value level as well.

Wells Fargo has also announced similar plans to reduce negative equity balances, and the Obama Administration has announced measures aimed at getting lenders to reduce underwater borrowers' principal balances and refinance their mortgages into government-sponsored loans. Government programs could affect loan modifications offered by many other banks and mortgage companies.

With these programs coming into effect, the prices of Albuquerque homes for sale will hopefully stabilize and our real estate market will bounce back sooner instead of later.

If you are a homeowner currently facing this situation, be sure to contact your mortgage company and find out your options before you decide to walk away from the home that you love.

If you are a buyer looking for a home in Albuquerque, there is no better time to buy than right now. Use our website to search the Albuquerque MLS and find just the one for you.

Free WIFI on Albuquerque's Rail Runner Express

2010-04-05T00:16:00.000-07:00

One of fun things about making your home in Albuquerque is the Rail Runner Express shuttle bus. Getting to the Albuquerque Airport is a snap with the Rail Runner, whether you take Route 350 from north of downtown, Route 222 from south of downtown, or the single Saturday Route 50.

Ride to the Santa Fe Depot, the Kewa Pueblo for a little casino action, downtown Bernalillo, or several other destinations in New Mexico's attempt to go green and eliminate a few cars on the road.. And now you can work (or play) while you ride with the free WIFI on the train. For the last several months, only a 50 chosen participants had been given access to test the system. As of April 5, 2010, the final test phase is being opened to all passengers for the next 90-days to work out any remaining bugs in the system.

Quite the "Google-esque" thing to do, don't you agree?

Check the schedules and full information about times and stops from their website at www.nmrailrunner.com. Our city offers more reasons every day to own real estate in Albuquerque, NM. Downtown Albuquerque condos offer more and more in lifestyle amenities and conveniences and there's always plenty of land for new homes in Albquerque too. Let us show you around town and convince you we've got the best city in the west!

The website offers the following instructions for connecting on the shuttles:

How to connect on the NM Rail Runner Express:

Turn on your device
Check for a list of available Wi-Fi networks
Select or connect to NMRX (SSID or Service Set Identifier that will appear in list of available networks)
Open your browser and you will be redirected to the NM Rail Runner portal page.
Click on “accept” to accept the terms of using the service and you will be allowed into the free internet.

Remember this is a free service and is not password protected. Never perform any data-sensitive transactions such as banking while accessing the internet on an unprotected network.

Albuquerque Mayor Promotes Bicycle Safety

2010-03-25T01:21:00.000-07:00

Mayor Richard Berry has adopted a new bicycle safety campaign called "Easy to Miss". The campaign, which includes a new website, billboards, mall and airport displays aims to raise awareness of drivers who share the roads with cyclists.

According to statistics, more than 100 bikers in Albuquerque are killed each year from accidents involving motorists who didn't see them until it was too late.

As recently as last June, mother and biking enthusiast Heather Reu was killed after being struck by a car. She left behind four small children and grieving friends, who came up with the idea for the campaign. Reu worked for a marketing company that partnered with the mayor to produce the billboards and website.

One of the billboards is designed to demonstrate how hard it is to see a bicycle until you are almost upon it...a picture on the sign has a biker that doesn't show until seen at a certain angle as a car begins to pass.

Bicycles are popular in our city, particularly in the neighborhoods and homes near Albuquerque's UNM campus. The campaign sponsors hope to make drivers in the University area more careful and on the alert.

Also in the works are more bicycle lanes throughout the city. Mayor Berry encourages bicycling and bike lanes, according to Chris Ramirez, City of Albuquerque communications director. He considers it a quality of life issue and wants Albuquerque residents to feel safer and enjoy biking. The website offers answers to questions of driving laws and safety tips for drivers and bikers.

Having a fun and healthy neighborhood for biking is often a deciding factor for our buyers looking for Albuquerque homes for sale. If you are interested in property near UNM or in a bike-friendly area, call us, or use our free Albuquerque MLS search!

Albuquerque Home For Sale by Owner - Will it really sell?

2010-03-09T02:06:00.000-08:00

"FSBO" (pronounced fizz-bo).

This is a four-letter word for most Realtors, but not for the reasons most consumers might think. Many agents will look past a FSBO and pretend it doesn't exist when they are searching for homes to show a buyer. I've heard it referred to as "kinda like the obnoxious relative you see out with your friends and hope they go away before someone makes the connection". Beyond the obvious reason of commissions, why would a Realtor avoid the pitfalls of helping a buyer to purchase a FSBO? Glad you asked!

Despite the fact that an owner sponsored listing might be a bargain, an agent becomes twice as liable for legal and other problems. Also, a seller being represented by a professional Realtor is more willing to pay for inspections, repairs, and even closing costs. Those are major negotiating points, after all.

O.K., let's just pretend that you want to buy a FSBO home without a Realtor. You would save 6%, right? That's $12,000 on the average price of a home for sale in Albuquerque. Start with this...would you feel comfortable taking the seller's word on the condition of the home?

Do you consider yourself as a professional negotiator? This isn't a car you're buying, It's a HOUSE... the most expensive investment that most people make in their lives.

"But I have done it in the past.", you say. Neat. You can negotiate with this stranger all by yourself and save the commission dollars. So...do you know all the new rules regarding tax levy disclosure? FIRPTA? Septic and well regulations? Does the seller know them? Do you trust him well enough to take this chance?

Who do you call for inspections? Do you have an escrow officer at a trusted title company? Do you have a mortgage officer? Is that mortgage officer up to date with all the new government regulations? These are the things you have to consider with an Albuquerque home for sale by owner.

And the appeal of SELLING your home by yourself is definitely tempting. Realtors understand this. But how much are you going to save selling a product that basically repels the main group of people (Realtors) that represent the one group of people (qualified buyers) that you want your property exposed to?

The statistics speak for themselves: 92% of For Sale By Owner transactions FAIL - this is according to the Nation Association of Realtors.

If I was feeling that lucky, I would go put my 6-3% "savings" on red or black at my local roulette table. My odds would increase 6.25 times. It would make much more sense...and maybe I would make enough money to pay a real plumber to fix that faucet I've tried to fix myself that continues to drip, drip, drip all the time...:-)

### ~Tim Fish

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Albuquerque Job Market is Expanding

2010-03-06T17:04:00.000-08:00

We happened to run across a new job listing in careerbuilder.com for Greyhound Bus Drivers in Albuquerque. That's kind of an ususual job that many folks might not think of on their own, but it looks to be a good one.

Greyhound was founded in 1914, according to their short bio. They provide not only passenger bus transportation, but also accept express package delivery and charter services.

Drivers (or Greyhound Motorcoach Operators, as they list the official job position) are expected to possess safe driving practices, the ability to be on schedule at all times, to excel in customer service, and be dependable and professional.

Requirements of the job include: professional dress, the ability to lift baggage and packages of up to 100 lbs, be on-call 24/7, and be away from home for stretches of three or more days when necessary. You would also have to be proficient enough with reports to do passenger counts, driving logs, and safety inspections. (They would love you to speak Spanish, but it's not a requirement!)

More job specifications include:

Be at least 22 years of age
Have a valid driver’s license
Minimum of three (3) year’s driving experience (Commercial or private)
Have a good character and positive work history
Consent to a background check and alcohol/drug screen
Pass a background check (MVR, Criminal Extended Employment Verification).

Your driving record must:

Have no more than two (2) moving convictions/accidents in the past three (3) years.
Have no more than three (3) moving convictions/accidents in the past five (5) years) (Speeding, tailgating, etc.)
Have no license suspensions in the past ten years (Suspensions for physicals, insurance lapses, failure to pay fine and failure to appear are exempt under the ten-year rule)
Have NO driving convictions related to alcohol or illegal drugs.

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This could be a unique new career path for our young people, or even pre- or post-retirees. An Albuquerque relocation is proving to be a very good choice as our economy tries to pull out of its problems and make a comeback. When you are ready to find a home, use our website to search the Albuquerque MLS, and then give us a call. With over 35 years of experience, we are Albuquerque real estate experts, and we look forward to helping you!

Living in Albuquerque- Balloon Festival Event

2010-02-23T22:23:00.000-08:00

On March 7, the Albuquerque Balloon Museum will host one of its best exhibits - The Open House Sky Sailing.

Visitors will thrill to hang gliding and paragliding demonstrations, including an acrobatic paragliding act by the Ozone Team, as well as 12 ft walking puppets, remote controlled flight demonstrations, and model gliders.

The Museum's open house will feature an Olympus 180 hang glider and a giant sailplane with wingspans of 50 ft. These aircraft will be hanging in the Museum Gallery.

The concept of wind flight will be explored, from the aircraft to nature's own wind machines - birds, squirrels...and even amphibians.

This is a great free exhibition that the whole family will enjoy. Come and learn about Albuquerque's special wind currents, and then drive around afterwards and check out what Albuquerque real estate has to offer these days!

The exhibition is on March 7, 2010, from 11-3pm.

Albuquerque Balloon Museum
9201 Balloon Museum Dr. NE
Albuquerque, N.M. 87113
505-880-0500
I-25 (exit 233), west on Alameda
Google Map and Directions

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Home Staging for Albuquerque Real Estate Sales

2010-01-21T21:16:00.000-08:00

From Ambiance Home Staging & Interior Design, LLC

You've decided on your price, listed your home on the Albuquerque MLS, and now you wait to find a buyer. Whether a home is lived in or vacant, it will benefit from "staging" before being placed on the market. When a family has lived in a home for awhile, they are so used to it that they can't see some of the problems. A fresh set of eyes (or, in the case of Ambiance, TWO sets of professional fresh eyes!) can quickly spot things that might be a deterrent to a quick sale. Sometimes it is a need to remove clutter, freshen up things such as bedding, re-arrange furniture and wall hangings to better show off the space, etc.

Out latest staging was this week in a beautiful large expensive home in Albuquerque. It is a gorgeous home with almost no clutter and just the right amount of furniture. However, there were almost no accessories, ambient lighting or accoutrements to soften up the space and make it look comfortable and livable. Being super bargain shoppers, we were able to purchase just a few things such as new bedding, pillows, throws, lamps, candles, etc. which made a world of difference in this space. The homeowner had no time, interest or knowledge of what was needed and welcomed our shopping service.

Check out our website below and look at the Facebook page at the bottom for before and after photos of this job. (Or, go directly to Facebook and search for Ambiance Home Staging and Interior Redesign. Our website also features a before/after gallery of other Albuquerque interior redesign we've done!)

A vacant house offers different challenges. We bring in just enough furniture and lots of accessories to set up interesting pockets of interest, or "vignettes" to bring the rooms alive and interesting. It is a proven fact that potential buyers will spend more time in a staged home than one that is vacant. We direct the buyers eyes toward the home's interesting features and provide a sense that the house would be nice to live in. Ambiance brings in all the furniture, accessories and any props necessary to accomplish this goal. For the reasonable cost of our service, the client gets our expertise, information concerning any other things that should be done to the home/property, staging materials and their set-up for a period of 90 days.

After that period, if the house is still on the market, our staging props may be retained on a month-to-month basis for a small fee. The client/homeowner is responsible for our materials while in the home, but we only had a problem once where a house was broken into. Fortunately, the owner had homeowner's insurance, which covered our stuff, as well as the appliances, etc. that were taken! (We, of course, carry general business liability insurance.)

If you are thinking about putting your Albuquerque home on the market, call Ambiance Home Staging and Interior Redesign, LLC first! Carefully staged homes will sell faster, get more Realtor traffic and will usually be priced higher than those that are not staged. Our service is a small price to pay to have your home look its best for potential buyers! Check out our Albuquerque Home Staging Website at www.NMAmbiance.com and call us for a quote or consultation!

Of Fish Men and Men Who Fish...

2010-01-11T14:15:00.000-08:00

It was in the north western part in NM on a ranch called Vermejo Park, owned by Ted Turner. The very first thing we saw when entering the park was a herd of Elk. I rolled down my window and actually heard them bugling, which I guess is pretty rare.

We kept driving toward the main lodge and then saw a herd of deer. When we pulled up to the lodge we got out of the car and immediately entered the wrong building - and I'm glad we did. The building we entered was Ted Turner's personal lodge and it looked like something you would find in Europe. The ceilings were high and arched with amazing detail and in every corner was a some kind of stuffed animal...even a lion! I could go into much more detail, but just imagine rich wood and marble everywhere.

When we finally figured out we were in the wrong building, we went to check into the right one. It also was impressive. Very clean and massive logs made this lodge. Jumping forward about two hours, we went to the "Fish House" and got a few coolers - one for drinks and one for fish - then headed to the lakes...

We finally found the lake we wanted to fish, and the very first thing we saw were two bears drinking from the lake. The lake was situated in the middle of a open, grassy area and about 100-200 yard away were pine trees. The view from the lakes was the Colorado mountains. It felt like we stepped right into some sportsman's magazine.

The rest of the day was amazing. We caught several FAT trout and the weather couldn't have been more perfect. One of the men fishing with us was a very good friend of my father's (and mine), Jim Padon, who was suffering from terminal brain cancer. This was one of his wishes - to finally fish the legendary Vermjo Park. I feel very fortunate to have spent that time with my father and Jim. Jim passed away several months later.

I will never forget those couple of days and will some day take my sons (and daughter if she wants to go).

A memory as told by Tim Fish. Photos are: Top - Father Dennis with one of those "fat trout", and Middle - Tim and his prize trout
###.

Visit our Albuquerque real estate mls website and let our 30 plus years of experience help you find your dream home in Albuquerque, NM.

Investing in Albuquerque Real Estate

2010-01-04T20:32:00.000-08:00

Why real estate? Well I like it because:

I can buy it leveraged. Instead of paying dollar for dollar as with stock, I can usually purchase a rental home in Albuquerque with 30 % or down, or less - depending on the financing.

Real estate in Albuquerque typically appreciates, while also providing excellent tax advantages for me. Currently, I can deduct interest, property taxes, and improvements.

When I decide to dispose of the real estate I may postpone the taxes owed by exchanging. If I must sell the property outright I may be able to spread the tax liability out over a period of time depending on the terms of sale.

I know what you're thinking - the real estate market is down!

I don't purchase real property for the short term, I buy it for the long haul.

I am confident that just as the value of real property has decreased over the last several years, the value of homes and condos in Albuquerque will increase once again.

So today I am looking to acquire additional property. It just fits my investment strategy, along with stocks and mutual funds. And there are some bargains out there!

Visit our website and browse through the Albuquerque MLS.

Let us help you get started on your road to real estate investing.

Posted by Dennis Fish, The Albuquerque Real Estate Group

Albuquerque Real Estate Offers Something for Everyone

2009-12-31T02:21:00.001-08:00

Albuquerque Real Estate Offers Something for Everyone

With the best schools, family friendly neighborhoods, gated golf communities, and downtown Albuquerque condos - the beautiful city of Albuquerque NM attracts families, retirees, and rocket scientists.

Albuquerque, NM (PRWEB) December 30, 2009 -- Kirtland Air Force Base brings in the techno-folks, with its 23,000 jobs in munitions maintenance, training and nuclear weaponry. Sandia Laboratories adds to the numerous high-paying jobs that helped to put Albuquerque in the number 2 place for Kiplingers Top 10 Cities for 2009. Albuquerque's unique art and cultural activities helps to attract those who want to live in a nature-friendly town and still have all the big-city attractions. More...

Your Albuquerque Home - To Sell or Not to Sell

2009-12-28T03:23:00.000-08:00

"Are you crazy? Why would I want to sell now? I'd rather rent my house than to give it away!"

As home sellers are faced with the reality of the current housing crisis, many consider the prospect of renting their home in Albuquerque...but is it the smart thing to do? Several factors must be considered before you make that decision.

Are you moving out of town? If you are moving out of the area, who will manage the leasing of your home or condo in Albuquerque until you decide to sell? What will that cost monthly?
Are you prepared to pay the monthly payments in the event it should become vacant?
Are you prepared to make the necessary repairs to bring your home up to rentable condition after each tenant vacates your property?
Who will maintain the landscaping in your absence?

The reality of renting your home is that it is not so easy. It can be a tremendous strain on the family.

I would also suggest that you ask yourself if your facts are correct. For example, if you are renting "until the market comes back", you must be clear on what that means. If you are renting until you can sell it for what it would have sold for in 2006, then you may need to rent it for about 6 years, assuming a 3.5 - 4% appreciation.

Another huge consideration - Could you use the money to purchase another property that is a beautiful home caught up in the same situation as your own?

The bottom line is this: Yes, you will have to be realistic in pricing your home if you sell now. But you may also be realistic in buying your next home as well! Current inventory, tax credits, and very attractive interest rates should all be considered before buying and selling in today's real estate market.

We invite you to browse through all the helpful information on our Albuquerque real estate website, or search through our Albuquerque MLS Listings. Let us know if we can help you buy or sell your home.

Happy New Year!
Dennis Fish - The Albuquerque Real Estate Group

Albuquerque Homes Near Kirtland AFB and Sandia Labs

2009-12-25T00:13:00.000-08:00

Kirtland Air Force Base is located in the southeastern part of Albuquerque, encompassing over 51,000 acres of Albuquerque real estate, and providing jobs for more than 23,000 folks. It is home to the Air Force Nuclear Weapons Center, the 498th Nuclear Systems Wing the 377th Air Base Wing, which provides munitions maintenance, training and support to 76 federal and 384 private sector units. The Air National Guard Unit on Kirtland is the 150th Fighter wing, part of the Air Combat Command.

Other divisions include the Space Development and Test Wing, the Department of Energy local office, and the Sandia Labs National Laboratories.

With the current military situation in our country, the influx and exit of personnel through Kirtland is ever-changing. We can help with your military relocation needs.

For information on homes and residences near the Kirtland AFB, or help with selling your home in Albuquerque if you've been re-stationed, please contact us.

Some useful websites:
Kirtland Air Force Base Homepage

Kirtland AFB First Time Homebuyers

Kirtland AFB Moving Planner

Search for Homes Near Kirtland AFB

Albuquerque Real Estate Benefits from Kiplinger's Top 10 Cities

2009-12-15T06:19:00.001-08:00

Albuquerque was awarded the number 2 place in Kiplinger's Top City List for 2009. Our city and the industry of real estate in Albuquerque should find this honor an asset to attract desired professionals and the jobs to sustain them.

Kiplinger's Kevin Stolarick evaluated the listed cities for growth potential, judging the number of professional jobs, the quality of the jobs, and the ability of cities to hold on to them in tough times. Stolarick is quoted as saying, "Although downturns are felt by everyone, our research has shown that the impact is less severe for those in the creative class - people who are paid to think."

Stolarick looked for the presence of occupations and people filling them in the industries of science, engineering, architecture, and education. Albuquerque's recent acquisition of the Schott solar power plant was cited, as well as the industries that attracted it; Sandia National Laboratories and Lockheed Martin's national defense plant, and the PHD's at the University of New Mexico. UNM has special programs to educate workers in these industries.

Other attractions are the growing film industry in Albuquerque as well as it's "Green City" promotions such as energy efficient requirements for home and commercial buildings, and the city's bike trails all along the Rio Grande.

All manner of "upwardly mobile" residents will find a happy home in Albuquerque, NM.

The Top 10 Cities on the list were:

Huntsville, AL
Albuquerque, NM
Washington DC
Charlottesville, VA
Athens, GA
Olympia, WA
Madison, WI
Austin, TX
Flagstaff, AZ
Raleigh, NC

Welcome to our new Albuquerque Real Estate Blog!

2009-12-02T00:28:00.000-08:00

With our brand new website comes a brand new blog! We hope you'll enjoy our news and information about real estate in Albuquerque. We are here to serve you and help you find your dream home. Please feel free to email or call us when you're ready to buy or list your home.

Albuquerque NM Real Estate

www.TheAlbuquerqueRealEstateGroup.com