ALBUQUERQUE HOME SELLER TIPS

Tuesday, February 21, 2006

WHAT IS ALL THIS "ZILLOW"?

In the last few days, a new Web site launched with great fanfare but spotty performance. When CNN included a story about it on their evening news, the site couldn’t keep up with the hits. Why all the fuss? Zillow promises to give homebuyers and sellers up to date and complete information about the value of their home and comparables in their area. Some have suggested this will make real estate agents obsolete because people will be able to price their own homes to be competitive. The early returns are that the site’s information is incomplete and sometimes wrong, which makes the suggested price ranges they give hard to justify. In some cases, the range is optimistically high, and for others, I’ve negotiated sales higher than their top amount. The site depends on public records for its data. But public records will not show factors, like recent additions and improvements or the condition of the interior, that affect price. Public records can also be wrong; a friend of mine checked her house and said she wants that fireplace she’s supposed to have, but will not give up the second bathroom they didn’t count. If the information about a house is wrong, how valid is the price estimate? In time, the site will undoubtedly improve, but for now – caution. IN ALBUQUERQUE, SALES PRICES ARE NOT OF PUBLIC RECORD, SO THEIR RESULTS ARE VERY INACCURATE! There is no question about real estate agents becoming an endangered species because of this or any other site. Price is only one factor in buying or selling your home, and getting to the settlement table means avoiding traps and overcoming obstacles. A top agent will be experienced at: negotiating the terms of your contract, making sure only qualified buyers troop through your home, meeting and dealing with appraisers, and working with home inspectors and title companies to be sure you are protected from start to finish. Buying or selling a home is an emotionally-charged transaction. Now more than ever it pays to have an experienced professional on your side. Embrace the benefits of new technology, but don’t fall into the trap of believing it will replace market knowledge and personal service. The end of real estate agents? Not any time soon. Margaret Rome Coldwell Banker Residential Brokerage5907 Berkeley AveBaltimore, Maryland 21209

The Party Is Not Over!

Real Estate: Is the party over? Exclusive forecasts for the 100 largest markets. December 16, 2005 By Ellen Florian Kratz, FORTUNE NEW YORK (FORTUNE) -- Everybody from Los Angeles to Boston -- your mom, your doctor, your dry cleaner -- is puzzling over which way the nation's real estate market is headed. Up or down? Bubble or not? It's a debate that's been raging for years, and recently that there have been clear signs of a slowdown. It's unlikely, however, that the housing market will come to a screeching halt. To get a clearer picture of how things may play out, FORTUNE turned to Moody's Economy.com and home property-valuation service Fiserv CSW. The researchers crunched numbers on the 100 largest metropolitan regions in the country, and the results of their analysis appear in the table below. Nationally, the overall outlook seems reasonable: 7 percent appreciation for 2006 and flat for 2007. But markets that have seen the greatest appreciation over the past five years appear to be vulnerable. Indeed, at some point in the next two years, according to the forecast, a third of the nation's 100 largest metro areas (accounting for 60 percent of the U.S. population) are expected to see modestly falling house prices. Real estate bear markets often come in the form of steady declines over many years, rather than sudden sharp drops. As inflation gradually gnaws away at the value of nominal home prices, regular folks might not take much notice. But in the long run the loss of wealth becomes all too real. From 1989 to 1997, for instance, Los Angeles residential real estate dropped more than 40 percent in inflation-adjusted terms. The nation's most perilous regional market, according to the forecast data: Las Vegas, a speculator-infested hot spot. Prices there are projected to deflate by 7.9 percent next year, the year after by another 5 percent. For newcomers to the market and those with low-money-down deals who may have overleveraged themselves with adjustable-rate mortgages, even a 2/7/2006 modest downturn could mean financial jeopardy. Click on column headings to re-sort. Click on city name for in-depth statistics. Rank Metro Area State Median home price Projected growth 2006 Projected growth 2007 1 San Antonio TX $129,900 8.30% 7.00% 2 Jacksonville FL $164,700 8.10% 2.50% 3 El Paso TX $107,100 8.10% 7.10% 4 Little Rock-North Little Rock AR $115,700 7.80% 7.20% 5 Baton Rouge LA $133,800 7.60% 3.80% 6 Richmond VA $191,800 7.40% 3.30% 7 Virginia Beach-Norfolk- Newport News VA $193,100 7.30% 1.00% 8 Nashville-Davidson- Newport News TN $157,300 7.10% 6.70% 9 Houston-Sugar Land- Baytown TX $139,800 7.00% 6.60% 10 Memphis TN $147,600 7.00% 6.50% 11 Allentown-Bethlehem- Easton PA $247,400 6.90% 1.20% 12 Oklahoma City OK $116,900 6.90% 6.00% 13 Birmingham-Hoover AL $152,500 6.90% 5.40% 14 Albuquerque NM $166,700 6.50% 6.10% 15 Columbia SC $133,200 6.40% 5.40% 16 Fort Worth-Arlington TX $125,700 6.30% 5.00% 17 Syracuse NY $109,400 6.20% 5.40% 18 Dayton OH $116,500 6.10% 5.60% 19 McAllen-Edinburg-Mission TX $71,000 6.10% 6.20% 20 Salt Lake City UT $165,700 6.10% 3.40% 21 Austin-Round Rock TX $161,800 6.10% 5.00% 22 Tulsa OK $116,600 6.10% 6.20% 23 Pittsburgh PA $113,000 6.00% 5.00% 24 Cincinnati-Middletown OH $146,200 6.00% 6.60% 25 Albany-Schenectady-Troy NY $176,700 6.00% 4.50% 26 Dallas-Plano-Irving TX $155,500 5.90% 6.30% 27 St. Louis MO $134,900 5.80% 4.10% 28 Toledo OH $116,400 5.70% 5.00% 29 Greenville SC $141,300 5.70% 5.00% 30 Sarasota-Bradenton- Venice FL $314,300 5.60% -3.60% 31 Indianapolis IN $121,700 5.60% 5.40% FORTUNE: Real estate growth forecasts (by rank) Page 2 of 5 2/7/2006 32 Wichita KS $107,200 5.50% 4.80% 33 Columbus OH $150,700 5.50% 6.00% 34 Akron OH $117,600 5.40% 5.30% 35 Buffalo-Niagara Falls NY $96,400 5.40% 5.30% 36 Knoxville TN $140,100 5.40% 5.20% 37 New Orleans-Metairie- Kenner LA $149,100 5.40% 6.60% 38 Rochester NY $111,200 5.30% 6.80% 39 Raleigh-Cary NC $183,100 5.20% 5.10% 40 Philadelphia PA $199,400 5.10% 0.50% 41 Charlotte-Gastonia- Concord NC $172,800 5.10% 5.50% 42 Louisville KY $134,800 5.00% 4.60% 43 Milwaukee-Waukesha- West Allis WI $210,900 4.80% 2.50% 44 Tampa-St. Petersburg- Clearwater FL $193,700 4.80% -0.50% 45 Greensboro-High Point NC $145,100 4.80% 5.50% 46 Kansas City MO/KS $154,600 4.70% 4.10% 47 Poughkeepsie-Newburgh- Middletown NY $265,000 4.60% 0.80% 48 Youngstown-Warren- Boardman OH $83,400 4.50% 5.30% 49 Gary IN $127,300 4.40% 3.40% 50 Cleveland-Elyria-Mentor OH $142,800 4.30% 5.10% 51 Omaha-Council Bluffs NE $136,100 4.30% 4.10% 52 Lake County, Kenosha County IL/WI $259,100 4.20% 1.90% 53 Atlanta-Sandy Springs- Marietta GA $165,300 4.20% 4.00% 54 Honolulu HI $570,400 4.00% -1.00% 55 Orlando-Kissimmee FL $226,400 3.80% -0.50% 56 Grand Rapids MI $137,300 3.60% 2.90% 57 Fort Lauderdale-Pompano Beach-Deerfield Beach FL $356,600 3.10% -4.50% 58 Springfield MA $197,900 3.00% 1.20% 59 Portland-Beaverton- Vancouver OR/WA $234,600 3.00% -0.70% 60 Baltimore-Towson MD $249,100 2.90% -0.80% 61 Tucson AZ $220,900 2.90% -4.00% 62 Camden NJ $210,800 2.70% 0.80% 63 Denver-Aurora CO $244,800 2.60% 2.50% FORTUNE: Real estate growth forecasts (by rank) Page 3 of 5 2/7/2006 64 Wilmington DE $231,000 2.50% 1.70% 65 Seattle-Bellevue-Everett WA $335,500 2.50% 1.00% 66 Tacoma WA $222,700 2.30% 0.60% 67 W. Palm Beach-Boca Raton-Boynton Beach FL $386,200 2.10% -3.90% 68 Phoenix-Mesa-Scottsdale AZ $238,100 2.00% -3.70% 69 Warren-Farmington Hills- Troy MI $196,000 1.90% 0.80% 70 Washington-Arlington- Alexandria DC/VA $404,900 1.80% -3.40% 71 Hartford-West Hartford- East Hartford CT $257,600 1.80% 0.60% 72 Miami-Miami Beach- Kendall FL $343,700 1.80% -5.50% 73 Detroit-Livonia-Dearborn MI $120,100 1.60% 2.00% 74 Newark-Union NJ $407,000 1.50% -1.80% 75 New Haven-Milford CT $280,300 1.40% 0.60% 76 Worcester MA $287,800 1.30% -0.30% 77 Edison NJ $387,900 1.20% -2.90% 78 Chicago-Naperville-Joliet IL $264,900 1.10% 0.20% 79 Cambridge-Newton- Framingham MA $448,800 0.80% 0.00% 80 Minneapolis-St. Paul- Bloomington MN $234,600 0.70% 0.70% 81 Bridgeport-Stamford- Norwalk CT $472,500 0.40% -1.30% 82 New York City-White Plains-Wayne NY/NJ $504,800 0.10% -3.50% 83 San Francisco-San Mateo-Redwood City CA $766,000 0.10% -2.90% 84 Bethesda-Gaithersburg- Frederick MD $444,500 0.00% -0.50% 85 Boston-Quincy MA $422,900 -0.10% -1.40% 86 Essex County MA $380,600 -0.20% -0.70% 87 Stockton CA $423,100 -0.30% -5.90% 88 San Jose-Sunnyvale- Santa Clara CA $720,900 -0.40% -3.90% 89 Oxnard-Thousand Oaks- Ventura CA $480,300 -0.70% -5.00% 90 Oakland-Fremont- Hayward CA $651,300 -0.70% -4.40% 91 Fresno CA $340,800 -0.80% -2.80% 92 Bakersfield CA $286,300 -0.80% -3.00% FORTUNE: Real estate growth forecasts (by rank) Page 4 of 5 2/7/2006 93 Providence-Fall River- New Bedford RI/MA $292,800 -1.10% -2.20% 94 Sacramento-Arden- Arcade-Roseville CA $372,900 -1.20% -5.10% 95 Los Angeles-Long Beach- Glendale CA $412,900 -1.60% -6.30% 96 Nassau-Suffolk counties NY $461,300 -2.00% -4.20% 97 Riverside-San Bernardino-Ontario CA $362,800 -2.60% -6.80% 98 Santa Ana-Anaheim-Irvine CA $682,300 -3.10% -6.10% 99 San Diego-Carlsbad-San Marcos CA $598,700 -3.40% -5.70% 100 Las Vegas-Paradise NV $296,000 -7.90% -5.00% Find this article at: http://money.cnn.com/pf/features/lists/re_growth_forecast FORTUNE: Real estate growth forecasts (by rank) Page 5 of 5 http://cnnmoney.printthis.clickability.com/pt/cpt?action=cpt&title=FORTUNE%3A+Real+... 2/7/2006

Albuquerque Commercial Real Estate

Albuquerque Commercial Real Estate Boom · Albuquerque is numero uno among the fastest-appreciating markets, according to a column in the Dec. 12 issue of the weekly California Real Estate Journal. The column, written by Craig Thomas of Torto Wheaton Research, ranked Detroit second and Jacksonville, Fla., third. Tucson was sixth. · Albuquerque is the sixth best investment market for commercial property, according to a Dec. 11 article in The New York Times. The article, which credited Moody's Investor Service for the rankings, said the Duke City trailed behind Los Angeles, New York City, Orange County (Calif.), Honolulu and Washington, D.C. Copies of the articles were provided by Aaron Hazelrigg, president of Centurion Properties and a self-described "newspaper junkie." Albuquerque Journal, Business Outlook, February 20, 2006

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I believe in a consultative approach to buying and selling homes.  Albuquerque is my home and I love the gorgeous surroundings, the breathtaking scenery and blue skies that are everywhere.

I love the pueblo style homes and the contemporary masterpieces that our artists have created - everywhere there is beauty!