Monday, August 30, 2010

#7 in a Series of 8 Articles – LANDSCAPING your Albuquerque home

Look at landscaping as the “Cherry on the Sundae” – you need potential buyers to want to stop and look at the house. Curb appeal is very important – I can’t stress this enough! If the landscaping is lacking the general overall impression is so is the rest of the house – not good. Remember, Xeriscaping does not mean rock and only rock. Here in the Southwest, water is a very important commodity and today’s savvy home buyers are keeping this in mind.

The backyard is just as important – it needs to be manicured and if possible, staged as an extra entertainment area. Even small patios can be used as an extension of the home almost year around in Albuquerque. Create an atmosphere that not only is inviting and welcoming to the buyer, but helps them envision the possibilities of entertaining in your home.


For more great information about staging and presenting your Albuquerque home to your next buyer, please contact Karla - she's just a great asset to your Albuquerque home sale!

More contact information for Karla:
Karla McWhorter

Interior Styling by Karla

Ph: 275-6819 & Cell: 228-3489

Monday, August 16, 2010

Market Statistics for Albuquerque Real Estate - AREAS showing an increase in price

Chart 1: Month over Month increases in Median Sale Price

Summary of Chart 1: This chart shows the 10 MLS areas that saw the greatest increase in the median sale prices from the previous year. With 42 Areas reporting 2 or more sales, 19 saw price increases and 23 Areas saw price reductions. Interesting to note is the fact that four of the areas had decreases in the number of home sales yet still had increases in the sale price.

Chart 2: QTR over QTR increases in Median Sale Price

Summary of Chart 2: This chart shows the 10 MLS areas that saw the greatest increase in the median sale prices from the previous quarter. With 44 Areas reporting 5 or more sales, 17 saw price increases and 27 saw price reductions.

Chart 3: Year over Year increases in Median Sale Price
Summary of Chart 3: This chart shows the 10 MLS areas that saw the greatest increase in the median sale prices from the previous Year-to-Date sales. With 46 areas reporting 5 or more sales, 17 saw price increases while 28 Areas saw price reductions (1 Area had no change in median sale price).

The sale price of homes is a widely publicized market statistic. When a real estate market sees increases in the overall sale price it may be an indication that the market is improving or that homes are regaining value they had during peak sale years. Since 2006 the Greater Albuquerque Market areas have seen the median monthly sale price of single-family homes rise to $205,000 (May 2008) and dip as low as $169,950 (February 2010). As of June 2010 our monthly market reports shows that single-family, detached homes have a median sale price of $181,000, the highest monthly median value since August 2009.

For all three charts presented in this article the data shows that at least 17 individual MLS areas are seeing increases in the median sale price when compared to the previous year. The areas showing the increases are not in a specific location and appear to be spread across different parts of the Greater Albuquerque Market Areas. All of the counties that are serviced by SWMLS (Valencia, Sandoval, Bernalillo and Torrance) included an Area that was in the 10 top list for increases in median sale price.

Source: Southwest MLS, Inc. Information deemed reliable not guaranteed.

For more information about Albuquerque Real Estate, contact the eTeam

Tuesday, August 10, 2010

#6 in a Series of 8 Articles - WHICH ROOMS TO UPDATE &/or REMODEL & WHY

Here are some more great tips for Selling your Albuquerque Home - staging is so important that I have asked my friend Karla to give us these great tips - be sure and contact her for more information about how her services can help you sell your own home!

The “Biggest Bang” for your money continues to be updating &/or remodeling your Kitchen. This is not only a good investment, but also a powerful tool to help sell a home. Even in this market a homeowner should be able to recapture their investment. Bathroom remodels/updates are also important – especially the MBR Bathroom. Everyone wants a luxurious bathroom – make it an inspiring selling point with dual sinks, contemporary plbg. and light fixtures, new flooring, noteworthy countertops, etc.

Powder Rooms are a superb opportunity to make striking statements – think of them as little jewel boxes. This is where you can get very creative with unusual wall treatments, artwork, one of a kind sinks and so forth. A Powder Room should be intimate and inviting at the same time. The point is to make a lasting impact on the potential buyer!

Karla McWhorter

Interior Styling by Karla

Ph: 275-6819 & Cell: 228-3489

For great information about real estate in Albuquerque, staging your home or other helpful hints for sellers...just contact us today!

Wednesday, August 04, 2010

Albuquerque Real Estate FAQ's - "Why do you always ask if I already have a Realtor®?"

You are surfing the web, or driving by your favorite neighborhood and there you see it, a house you want to know about!  It's so exciting to see the opportunities!

So, you pick up the phone or email the broker and ask about the property.  You might even click on the link that says "request a showing".

When the Realtor® responds, one of the questions they are going to ask you is "Are you working with a broker?"  Why do we ask this question?  Can't we just show you the house?

Many times the home you have called on is not our personal listing.  If you see it on the Internet, you might be seeing it via our IDX feed, which is a service we provide to show you all of the listings in MLS on the websites.  If you call on a sign, it might not be the listing broker that is taking the call personally - it might be someone in the company who is on duty to take inquiries on properties.  Only a licensed real estate professional can answer questions about a property, so offices will have licensed brokers on duty just for these types of inquiries. 

If you call and speak directly to the listing broker, he/she might also ask you the same question - "are you working with a broker?" 

Let me try and paint you a picture of why this question is asked.

The client/customer/broker relationship is a very important one.  Once you have started the relationship (whether formal or informal) with a real estate professional, you have also told them personal and confidential things about yourself and your situation.  You have shared what you are looking for, and probably also told them why you are buying or selling a property.   They have confidential information about you and your unique situation that should not be shared with anyone else.

Also, that broker has started the process of setting up your file and creating a client profile in their system.  The broker you have spoken to and started this process with is doing work behind the scenes already to find you a great property.   This real estate professional has already 'gone to work' for you.

In last week's Blog I spoke to the process of setting up a showing for a home.  It's really not just getting in the car, running over and opening the door.  When you call so see a property, everyone in the process takes the event quite seriously.  There are qualifying events that need to take place, including preparation of paperwork and research.  A great real estate professional will prepare information about the property and gather neighborhood information for that meeting.  If the property is occupied, the seller is preparing the home and their day for your arrival. 

The other thing to remember with this relationship is our Realtor® Code of Ethics.  In this code we are held to a standard, one of which is to not tread on another Realtor®'s client relationships.  It is very unethical to 'steal' another Realtor's client.  It would also be unethical to use information that is learned about another Realtor®'s client.   We want to make sure that we are not speaking to another Realtor's client and creating a new relationship.

We will sometimes get calls from customers saying 'my Realtor® is out of town but I need to see this property right away'.  We understand your enthusiasm, but if you are working with a great professional, that real estate professional will have plans in place to cover their business should they not be available.  I think you can see why from the above information that this be an essential part of the real estate team you decide to work with.

Confidentiality, ethics, time value - these are all very important elements of the real estate process.

If you have a relationship with a Realtor®, value this relationship.    We value you!

Blog Archive