Pricing it right

          Setting the proper price at the very beginning is extremely important for a quick sale. Pricing your home too high may take too long for your home to sell. If you’re thinking of pricing your home high then lowering it when it fails to sell will cost you time and money. Many buyers and their agents may shy away just by looking at the price. The activity that your house is going to get in the first 30 days of it being on the market is the best you’re going to see so to get more people interested, the price has to be market specific.. Always get your agent to do a formal market analysis and benchmark your home with specific comparables.

Curb appeal matters

          The first thing buyers will see is how your house looks from the outside. A good looking house will always get buyers interested. You don’t have to spend a fortune to make your home look good. A few simple ways you could enhance your home’s curb appeal is by painting the front door, adding some flowers or replacing the mailbox. Make sure the rest of the paint looks good, add outdoor lighting fixtures and most important keep it clean.

Updates

          One of the services Pete Veres provide his clients is a free in home consultation to see what enhancements can be done to your home for the least amount to maximize your return. Adding new fixtures, repainting the interior and keeping it modern or attuned to what’s in style will help you sell your home fast. If you’re planning on updating, it’s best to set a budget and make sure you don’t overspend on items that are too expensive. Research or ask your realtor if the updates you’re planning on adding will be a wise decision. You may lose money if you spend too much or you may get more and it all depends on what updates and if they will increase your home’s value. Pete Veres says spend wisely for the desired updates.

Clean and clear

          Buyers always envision themselves living in a home they look at. Having a clean home matters a lot. Clear out any knickknacks or any other items that may distract potential buyers. It is also wise for you to depersonalize your home. Removing family pictures, clutter any personal items may help the buyers envision living in it better. Be sure to clean every nook and cranny as buyers can be meticulous. Also make sure the home smells fresh and clean.

 Staging

          One of the best, proven methods to faster sales is a process known as “staging.” Staging uses design and conceptualization techniques. The objective is to have potential buyers walk in and envision the property as their home. They can see themselves living and entertaining there. It’s all about creating a space that makes buyers connect emotionally to it. They should feel as if they were the owner, not a guest. As a seller, In order to do this effectively, you need to make your house as impersonal and attractive as possible to stimulate the buyer’s visual acuity. Some sellers don’t want to invest in staging but it can help sell your home fast and for top dollar.

Be flexible on showings

          One of the best things you could do is to be flexible when it comes to showings. Make it very easy for people to view your home. Be ready for early morning, late night and weekend showings. Some showings might also be on short notice. It is also wise for you not to be there so that buyers won’t feel rushed and would really get a feel for the home. They can also discuss freely with their realtor about what they like and dislike about the home. These opinions from buyers, positive and negative, can really help you find out what you need to do to get your home sold faster.

No pets

            Everyone loves their pets. They are a part of the family. But when it comes to selling your home, it is wise to remove them when there are showings. Remove their paraphernalia as well. The home should look as if there hasn’t been a pet in there at all. Make sure all pet orders are gone.

Your home advertised online

          You have to be sure that your home is listed almost everywhere online. Your realtor can help you with this. Almost all realtors advertise their listings online like Zillow, Trulia and Realtor.com. Social media is another place realtors use to advertise your listing. With the popularity of Facebook, Twitter, Instagram and other social media sites, it’s quite easy for realtors to reach people and show your home.

Excellent photos

          Today, everybody seems to be online. The most popular place buyers look for homes is online. The first things they will see when they check out your listing are the pictures. The pictures have to look excellent. Buyers who look online would want to see your home if the pictures are great. Show the best features of your home. There are other media you could use like a 3d virtual tour of your home where buyers can see your home as if they were there by using their mouse to look and walk around. Make sure your agent hires a professional photographer. It’s amazing that some agents use their smartphone to take pictures and use those to market their listings.

Neighborhood

          Your listing should also include information about what’s in the neighborhood. Where’s the nearest hospital? Any good restaurants near your home? Where’s the nearest school? What are the available activities in the area? These are also very important for buyers as some of them make their decision based on this info.

These tips can help you sell your home fast. You don’t need to follow all of them. Follow the tips that you think can help you. If you need help selling your home, I’m here to help. Pete Veres, CRS – Certified Residential Specialist can help get your home sold quickly in a timely manner. www.peteveres.com

Please click above for the National Market update.

Locally, the Albuquerque area housing market shows continued strength. With only 3,363 detached homes listed last month, the Albuquerque metro housing inventory continues to tighten, down 15.16 percent from May 2015. Absorption rates are down and look to be stable for now. If this trend continues we may start seeing home prices rise.

If you would like to view the local real estate market update please click here: May 2016 Greater Albuquerque Market Update

Feel free to contact me and I can help break down exactly what these numbers mean for our local market and for your neighborhood.

And lastly, If you or anyone you know is thinking of buying or selling a home, please call or email me. I'm here to help!

Peter Veres

Associate Broker, CRS,ABR,CLHMS,SRES

#1 RE/MAX Elite Team Agent - Albuquerque

RE/MAX Elite

www.PeteVeres.com

Cell: 505-362-2005

Office: 505-798-1000

Homebuyer Demand Rises

The 2016 home-buying season has begun! We're continuing to see home demand rise even in the face of increased sales prices. While inventory remains much lower than last year, there are signs of stabilization month-to-month according to the May 2016 RE/MAX National Housing Report.

Feel free to contact me and I can help break down exactly what these numbers mean for our local market and for your neighborhood.
And lastly, If you or anyone you know is thinking of buying or selling a home - please call or email me. I'm here to help!

And lastly, If you or anyone you know is thinking of buying or selling a home, please call or email me. I'm here to help!

Peter Veres

Associate Broker, CRS,ABR,CLHMS,SRES

Elite Asset Management Team"#1 RE/MAX Elite TeamRE/MAX Elite

www.PeteVeres.com

Cell: 505-362-2005

Office: 505-798-1000

More than 80% of Americans live in counties that have experienced a weather-related disaster.* Do you have a plan?

A weather-related emergency or disaster can occur any time. While they may be difficult to predict, it is possible to prepare. In fact, the more prepared you are, the more comfortable you’ll be when putting your plan into action.

Pete Veres would like to share the following. The information I’m sending this month offers tips on how to create a plan that will help you and your family in the event of an emergency. Please click here How to Prepare for an Emergency. It covers everything, including: deciding on a meeting location, collecting documents and practicing your plan on a regular basis . You may not be able to control if or when an emergency will happen, but you are able to control your preparation for it; and preparation equals safety.

Although we may not want to think about what would happen in the event of an emergency, it’s necessary to plan for such an occasion. I enjoy serving you and care about the well-being of you and your family.

There are many renters that have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either your mortgage or your landlord’s. Many renters also think they do not qualify to purchase a home. We have found that in most cases they are qualified and sometimes their new mortgage payment will be less that their current monthly rental. Get your Free Report, click here: Why Rent When you can Buy!

As The Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return.  

That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

Christina Boyle, a Senior Vice President, Head of Single-Family Sales & Relationship Management at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’.  This savings allows you to have equity in your home that you can tap into later in life. You equity will also tend to grow as market values increase and your principal decreases. However, as a renter, you guarantee your landlord is the person with that equity.

Why not start building your own equity? Contact Pete Veres, ABR –Accredited Buyers Representative for a Free Buyers consultation and learn the steps to homeownership. Feel free to call Pete at 505-362-2005. 

Above you will the the National Housing Report from RE/MAX.

Pete Veres of RE/MAX Elite in Albuquerque, NM would like to share the latest Albuquerque Market update for March 2016. As the busy spring season approaches, the Greater Albuquerque housing market had a slight increase compared to March of last year with a seasonal jump compared to last month. The top selling price range was $200,000-$250,000. The 896 detached homes sold in March 2016 was an 8.34 percent increase over the same period in 2015 and a 40.44 percent increase from February’s sales of 638. Please click here to see the complete report. Albuquerque Market Update March 2016

More than half of recent homebuyers said the hardest part of the buying process was finding the right home to purchase. Since a home is the largest purchase most of us will make, it is easy to become wrapped up in finding the perfect place that meets all of our wants and needs. We overwhelm ourselves by focusing on checking off the boxes that will result in our ideal home. That's a lot of pressure!

This month, I'm sending information intended to take the stress out of finding the right home. Click here: 4 Factors to Consider Before Your Next Home Search. Before you begin your search, there are four things to consider—price range, features, location and lifestyle. These four factors will help you focus your search on homes that meet your needs, allowing you to make the best decision for your family and for your wallet.

When you're looking for a home, you need an experienced professional in your corner to help navigate the process and get you the best deal. If you’re ready to buy, give me a call! I am a certified ABR – Accredited Buyers Representative and we offer a free buyers consultation to all our new buyers. You can also set up your free home search at www.SearchAbqArea.com I'd love to help you achieve your dream of homeownership.

Pete Veres wants to share the following information with you. Boost your property’s curb appeal year round! Below is a checklist to help you maintain your property during each season of the year. Remember, a well-maintained home is a more valuable home. Forward this checklist onto family and friends to help keep their properties in top shape all year round. If you would like to track the price of what homes are currently selling for in your area and have sold in your area get your Free Albuquerque Neighborhood Market Snapshot by going to www.abqMarketinfo.com We looking forward to serving you!

It's a good time to be a landlord in Albuquerque. Pete Veres of RE/MAX Elite has been seeing investors get back into the market. We are also seeing more demand for single family home rentals. Another interesting trend has been rentals for higher end homes in the $400,000+ plus range. Please contact Pete Veres at 505-362-2005 if you would like more information about possible residential investment opportunities.

In addition to the rental home market, the city's apartment rental market, called one of the most steady in the nation by CBRE, has seen occupancy and rental rates increase year over year.

CBRE's Albuquerque office released new data that shows both regular apartment complexes, and those that offer affordable living, are posting rent increases.

Market-rate units saw average rent increase from $758 in January of 2015 to $778 in January of this year. Affordable living units, which usually have income limits, saw average rent increases from $701 to $712.

CBRE, which collected data on 140 market-rate apartment complexes and 45 affordable properties, saw two-bedroom, two-bath units post the largest rent gain.

While the rent increases may be a big jump for some residents, it's nowhere near as fast as rents are climbing across the nation. The real estate research firm Reis Inc. reported average rents increased 4.6 percent nationwide in 2015.

Investors like Albuquerque's stable market, because it means in an economic downturn, their properties are protected from big drops in occupancy.

The local apartment occupancy rate remains stable, at just more than 94 percent in January. The occupancy rate was 93.6 percent at the same time last year.

If you are considering investing in the Albuquerque Real Estate Market you can start by going to www.Buyerprofile.org and we will get your property search started. We can also help you with the proper resources for a free loan pre-qualification.

DENVER – Pete Veres wants to share the following National report from RE/MAX. As the popular home buying season approaches, February sales saw a jump from both January and last February. The year-over-year change was 4.8% and the increase over January was 5.8%, which is in line with the 5.2% average seen in each month of February since 2009.  Over the last 12 months, the average year-over-year increase in home sales has been 5.8%, and only two months, November and October, experienced sales that were not above year-ago sales. The Median Sales Price of all homes sold in February was $198,000 or 5.9% higher than the price in February 2015. Price increases have moderated over several months, with month-over-month declines seen in 6 of the last 12 months. The inventory of homes for sale remains very tight in many markets across the country, with February seeing a level that is 13.3% lower than a year ago. At the rate of home sales in February, the national Month’s Supply of inventory was 4.0, down from 4.7 in February 2015. In the local Albuquerque market we are seeing similar trends, the median price of $178,000 is up 5.33% from 2015 and our Feb 2016 active listings are down 15% as our inventory is also shrinking. To see the Feb 2015 Albuquerque Market summary please click here: Feb 2016 ABQ Market summary.


So far in 2016, January and February have both seen home sales at a pace higher than one year ago, and last year was one of the best our industry has seen in quite some time. Consumers are benefiting from price increases that have been moderating, but many will still be dealing with an inventory lower than we’d like to see. Serious homebuyers who choose to work with an experienced agent will have a much easier time navigating this market,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.  

“A lack of inventory continues to affect home values, as eager buyers compete for a small selection of homes. Home prices continue their long march back from the big price drops experienced in the financial crash. As more and more Americans gain equity, this increases the number of homeowners who are financially able to sell their home and buy another one. We’re seeing the benefits of this virtuous cycle in rising home prices, which are also being greatly aided by historically low mortgage rates,” added Bob Walters, Quicken Loans, Chief Economist.