Wednesday, December 03, 2014

Albuquerque Real Estate 3rd Quarter Appreciation Graph

Here is the Albuquerque, New Mexico 3rd Quarter appreciation graph - showing a good, steady progress towards appreciation in our market.

When looking historically, we came through a really challenging time! Still a great time to sell or buy a home !

For all real estate listings, updated daily - please feel free to use my property search, no registration required!

Tuesday, September 30, 2014

A note to all Albuquerque home sellers....

My message today is to all Albuquerque home sellers.

The message is simple. Contact your broker today and insist that they put into the private "broker to broker" remarks the following:

"Home to be shown to prequalified buyers only."

Simple. Why?

Many Realtors don't have the buyers prequalified before they put them in their car or meet them at your home. This is the single most effective screening process that there is. Don't you want to know that the person that is viewing your home has been properly screened to make sure they aren't just casing your home for a future problem? Don't you want to know that the person has had their financial background examined and has a relationship with a loan officer who has taken the time to find out if the homes they are looking at, they are qualified to purchase?

You might think that we are screening buyers before we meet them. Not all of us are. I do.

But let's make it simple - just request that you listing broker put that into their instructions to showing brokers. Do it today.

Tuesday, July 22, 2014

Leave the Scary Stuff up to ME

So, you want to buy a house! I can't imagine a more fun and frightening adventure all at the same time. Here's our plan and why I'm a Realtor:

Leave the frightening up to me.

Step One: Finding the house is super easy, really it is. You can use Zillow, Trulia,, My Site for Albuquerque Home Searches You will find a house! I guarantee it. With the occasional "hip pocket and it's our secret together" listing, all the houses that are for sale in the MLS are all OVER the internet. Even For Sale By Owners (not to be confused with brokerages which carry the same name and are Realtors), which are real live unrepresented sellers - you can find a house.

Step Two: Deciding what to offer. Well, okay that's where I slip in and give you some advice, but it's still clearly up to you. You are holding the oars in the water, you see how fast you want to paddle. Offer low, might slow the boat down. Might stop the boat. Offer strong and you start paddling that boat to shore.

Step Three: YOUR OFFER IS ACCEPTED! Wow, super fun - wowza, yey, hooray! what? Okay so you have to decide what inspections to order, who to order them from, how much are these inspections and what do they mean? What do we do with the title company? What's a title company? What do they do? When does the lender start working on our file? How do they get the paperwork to start working on our file? What will they need from us now? Holy candy what do we do? Wait, what's a surveyor and what's an ILR, and who arranges all of this stuff? You've got a job from 9-5, you've got a family, shopping trips, day care, pets to the groomers, when will we HAVE TIME FOR ALL OF THIS? Wait, and who talks to the other broker, what about the sellers, do we talk to them? Can we talk to them? How do we know when to call the utility company? How in the world are we ever going to get all of this done!? HELP!

Step Four: Sit back, relax and this is where my work begins. I know how to do all of this stuff. I really do. It's what I do. It's what fills up my days after I'm helping someone market their home for sale and driving people from one home that they have found to another...It's a system. A beautiful system once you know which buttons to push.

My hardest work in this business comes when your work is completed. You have found the house, you have stressed and worried that it is the right decision. Now it's my turn to take over the oars and make sure this boat comes to shore. To get this done you have to make sure you hire a broker who is:

Able to customize your process to your needs
Has great resources to make the process happen easily
Easy to reach

It takes a village. My village consists of reliable vendors, a great assistant and colleagues to assist me, 20 years of experience and commitment to your needs.

Oh, and the best part - I love scary stuff.

Monday, July 21, 2014

Dog Poo and Zillow

What does Dog Poo have to do with Zillow?

It has everything to do with Zillow and Zillow's insistence that it can give the consumer a 'value' for their home by the click of an address. Click, and you will see 'values' around your home, and thus you will know the value of yours. All things being equal, right?

Dog Poo.

Automated market values - we as brokers are all using them, analyzing them and sharing with the public. Zillow prides themselves on "Zestimates" - don't call a real estate professional, just ask Zillow!

Let me share a story with you about how much price per square foot matters when determining the value of a home. I use the word value because 'value' is not only what a buyer finds to be the value to them, but the value that a seller puts into their home in terms of quality, care and love. How much does value mean to a home?

While coming back from my Sunday walk today I passed by a home in my own neighborhood that was for sale. It was the same floor plan that I was living in and had not had the chance to preview the home when it came on the market - so I thought it would be a nice way to see this property.

As I passed through the front gate of the courtyard, I could not miss the putrid smell of rotting garbage and dog poo sitting at the front gate. Yes, you read correctly, a bag of smelly garbage and dog poo was at the front gate. I noted the weeds growing through the cracks of the unkept patio tiles. The courtyard was void of a water feature, which was a popular upgrade to this floor plan; instead it had just a sitting area, no flowers, no garden. The paint on the stylish vigas and posts was not the original custom color, but one that the owner probably got on sale at the hardware store. The finishes were all off. The 3rd car garage had been 'converted' to an extension of the casita, thus adding square footage, but adding value? Not at all. In fact, this extension of square footage just took away the value of a 3rd car garage and served to make the casita into an oversized, useless room.

The open house host met me at the door and I introduced myself as a broker and a resident. As I walked through the home I saw the builder 'basic' package of features - no upgrades in countertops, cabinets, appliances, or flooring. While we are on the subject of flooring, the carpets were old, faded and dirty. The window treatments were also filthy and bleached by the sun. One bedroom was painted an unflattering color and that paint was faded and spotty. The bathrooms were also void of any upgrades. The appliances were 'builder basic', as was the fireplace. Instead of a high polished plaster kiva fireplace, the option had not been upgraded and simply had a basic gas fireplace with no character.

This floor plan, when originally constructed, was one of the best floorplans that the builder offered. The builder offered many attractive upgrades which made this home style a real show stopper, but this property lacked any of that. Sure, it had location. Sure, it had the floor plan and square footage. This home lacked anything that would have given the 'value' that a price per square foot evaluation on-line would have produced. I asked the showing host how much it was being offered for, and it was presented at the "automated valuation if you didn't actually see it" price. It's actually going to be sold for quite a bit less than that, probably $100,000 less than this price.

There was nothing in this home that could or should be compared to the surrounding homes that have been upgraded and lovingly cared for. While that in itself is enough for a contradiction between an automated value and real market value, the Dog Poo is something that would be the biggest factor in a prospective buyer walking through that door and even wanting to consider this their next home AT THAT PRICE. This home, in it's present condition, would be considered a 'fixer' by any trained buyer (and buyers, by the way, are trained!)

So, the next time you consider using "Zillow" or seeing 'comps' in a neighborhood to be an evaluation of market value, remember the Dog Poo.

Friday, July 11, 2014

Albuquerque Homes in the Foothills!

Ever want to know what homes are like in the Foothills area of Albuquerque? Search for homes in the Sandia Foothills, near the Sandia Tramway, hiking and biking trails, and all sorts of VIEWS VIEWS VIEWS!


Blog Archive