Wednesday, December 30, 2009
How much do I offer on a foreclosed home? A great question, so I thought I would run some statistics about how much these homes really sell for, vs the listing price that is advertised. A study done of closed sales, on bank owned properties January 1st through today, 2009. 391 bank owned homes sold in 2009. The bank owned homes that sold the quickest? Price in the 130’s – the average days on the market for this category was approximately 30 days. The bank owned properties that took the longest to sell? Price in the 800’s and up – the average days on the market for this category was over 300 days, up to 800 days. When we look at how close the sold price came to the actual listing price, when a bank owned property sold in the first 30 days, the LISTING PRICE TO SALES PRICE RATIO was 99%. When the bank owned property stayed on the market over 120 days, the LISTING PRICE TO SALES PRICE RATIO went to 93%. It is notable that this statistic is the same for CDOM (cumulative days on the market) to DOM (days on the market). I have attached the study document for your review, and if you have questions about this, don’t hesitate to get in touch with us!
Have you been wondering what the new Home Buyer Tax Credit is all about? I'm sharing a document with you that may just put it all into perspective and if you need any further assistance with buying your new Albuquerque home, please contact the eTeam right away! We are here to help.
Wednesday, December 23, 2009
Now there is a new link for Horse Properties in the Albuquerque area on my website; these properties are updated daily for new property listings that either have horse facilities already in place or are zoned for horse facilities.
Enjoy your visit - HORSE PROPERTIES
Monday, December 21, 2009
For those of you wanting to buy that perfect 'HORSE PROPERTY' in the Albuquerque area, here's an easy search for you.
These properties either have facilities already in place for Trigger, or have the related zoning requirements in place to allow you to build the perfect house for your horse.
I grew up with horses, raising and training them, loving them, showing them...they are the best friends! I loved riding the foothills of the Manzanos and chasing the ground owls on long summer days.
S0 - have fun with your search, and let me know how The eTeam can assist you with your next home purchase or sale - we are here to help.
Click here for 'horse properties' and save your search - TRIGGER FINDS A HOUSE
Friday, December 11, 2009
I have noticed something lately. Every morning and every evening I pull up Active listings and Pending listings, what has sold and been listed in the last 24 hours. I also pull up activity for vacant homes vs. occupied homes as a separate list. What I have noticed lately is an abundance of activity for 'vacant' homes finally going under contract in the Albuquerque area. This is great news for our inventory. It means that more of these homes that the owners have left b/c of job transfers or even foreclosure - have finally found new owners! If the owners have left for other job opportunities it means they will now be able to buy at their new destination. It means that foreclosures (which are fairly low in our area) are being bought and finding new families to love them. If an owner has vacated their Albuquerque home to buy another one locally...it means now they have been relieved of the responsibility of ownership and can move on with more productive activities. I feel the market turning around in a definitely positive way. If you need a market analysis or update for your Albuquerque home, please feel free to contact me anytime. Linda@RealEstateInABQ.com
Wednesday, December 02, 2009
Here in New Mexico, we are what is considered a "limited non-disclosure state". This means that property sales information is only available through the MLS to licensed brokers. While in other states, where Zillow pulls the information from, the sales price information is available through the county public records - the tax assessors in New Mexico only have the information for the basis of assessing the property for tax values. Zillow uses county records to estimate their values for properties, because these values are easily available through on-line resources. In New Mexico, these records are not available to the public, so Zillow does "guesses" based on current listing information. The tax assessors in New Mexico only recently were made privy to this information, so tax values are still being calculated, so it is still difficult to pull what looks like the 'assessed' value and come up with a sales value for a property. On that same note, it is also unlawful for a Realtor to give an appraised value for a property, only a range of value for a property. This is due to laws on the books which allow only licensed appraisers to set a 'value' for a property. Realtors are allowed to give a range of market value for a property - and cannot get paid for this service.
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