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Albuquerque Year End Residential Home Averages

by Elite Asset Management Team

The numbers are in for 2016. We saw a good year overall with the overall average market increase of 4.13% in residentail homes values, average home price up at $224,430. Our overall market inventory is dropping which is a good sign. We do need to remember that sales numbers are still very area specific. Most areas saw an incearse in the avergae home price but some are still adjusting. Please stay tuned for the specific area numbers coming soom. To track the price of home for sale, homes pending and homes sold in your area, go to www.AbqMarketinfo.com for your Free Market snaphot. Also feel free to call Pete Veres - Certified Residentail Specialist at 505-362-2005 for your specific questions.

Sellers with Vacant Homes Please read this!

by Elite Asset Management Team

Albuquerque and Rio Rancho are seeing a disturbing trend at vacant properties for sale.  Instead of attracting buyers, the empty homes are attracting vandals.  

One of the most recent reports of a vacant home vandalism stated that an individual poured paint on the floors and countertops of the home, as well as destroyed the appliances.  

Vacant properties are very susceptible to property damange and criminal activity.  That's why it's important to not only understand these dangers but to take immediate steps to prevent them.

To help prevent vandalism of your seller's vacant property, encourage your seller to keep in mind the 5 tips below.

  1. Hire a caretaker for the property until it sells.
  2. Ask a trusted neighbor to park his/her car in the driveway.
  3. Install motion-sensor lights and set the interior lights to variable timers.
  4. Ask relatives, friends, or neighbors to look after the property while it's vacant.  This includes collecting mail and regularly inspecting the home for damage.
  5. Ensure the property has the proper insurance coverage.  Insurance coverage can lapse if the home is vacant for more than 30 days.

In the event that your seller's vacant property is vandalized, please follow the steps below.

  • Change the locks on the property immediately.
  • File a police report with the Albuquerque or RR Police Department.

Displaying blog entries 1-2 of 2

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Photo of Elite Asset Management  Real Estate
Elite Asset Management
RE/MAX Elite
8300 Carmel Ave. NE Ste. 201
Albuquerque NM 87122
(505)362-2005
Reviews on Zillow
4417042
"Professional and Knowledgeable about real estate in the area, patient with difficult customers like me and my wife (who occasionally wanted very ... more "
5.0/5.0
by rezaarghavani
4279664
"We interviewed the top 4 realtors in our zip code and Pete was at the top of the list. His presentation was professional and well thought out. ... more "
5.0/5.0
by chuck tabbert