Real Estate Information Archive

Blog

Displaying blog entries 1-4 of 4

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.

ABQ’s Housing Market Trends Remain Positive in Off-Season

by Elite Asset Management Team

Albuquerque, NM  (December 12, 2016) – The Greater Albuquerque housing market has remained consistent throughout 2016.  In year-over-year comparisons, the number of homes for sale has dropped in most Central New Mexico communities while homes sold faster and for higher prices. The housing market improvements in Albuquerque have occurred with enough regularity and time to make it a trend for the entirety of 2016.

The 798 detached homes sold in November 2016 marked an 18.2 percent increase over the same period last year, and the 79 attached homes sold represented a 23.4 percent increase over 2015. Pending sales are also up 25.7 percent for detached homes and 34.3 percent for townhomes and condos, indicating that the market is not slowing down much for the market’s typical cold-weather off-season.

While the total inventory of homes for sale in the Albuquerque metro market was down again to 18.8 percent compared to the same period last year, the 979 detached homes newly-listed for sale in November represented only a 6.4 percent year-over-year decrease. Newly-listed townhomes and condos increased by 5.7 percent compared to November 2015.

The median sales price in the metro area increased 2.8 percent to $185,000 for detached homes and increased by 23.8 percent to $151,000 for townhomes and condos. The average sales price for detached homes increased by 2.7 percent to $218,795 as the average price for townhomes and condos jumped 21.4 percent to $164,526.

“Financial markets were volatile in the days surrounding the presidential election,” said Jon Schnoor, 2016 President of the Greater Albuquerque Association of Realtors. “The market has since self-corrected and reached new heights. Long-term indicators of what it will be like to have a real estate developer for a President remains unclear. Prior to the election, a national shift in housing trends was hard to come by, and unemployment rates have not budged since August 2015.” He also noted, “Post-election, mortgage rates are up and opinions in the industry are that a national, and possibly local, trend shift is likely in the near future.”

To see the full Great Albuquerque Market report for November 2016, Click Here.

Thinking of Retirement? See what the numbers are telling you.

by Elite Asset Management Team

Sometimes you get weary of all the disastrous financial news about retirement savings shortfalls. And sometimes you just want a quick answer to the question, “Can I retire at 66?”

Marketwatch has a great retirement planning tool that lets you visualize retirement and tweak the inputs – what you have, how much you’ve save, and your target retirement age – and tells you whether or not you can afford to retire. Please click here to view: http://www.marketwatch.com/retirement/tools/retirement-planning-calculator

It gives you the answer straight up: “You cannot afford to retire at 66.”

That quick answer, especially if it’s a yes, may be just enough information for you.

Or maybe you want to tweak you inputs to see if you pump a little more cash into retirement accounts, you’ll be able to flee corporate America five years earlier.  The tool helps you make those calculations quickly.

Many people are thinking of downsizing to help make the retirement goal come even sooner. Pete Veres – Senior Real Estate Specialist with RE/MAX has an excellent downsizing program and team in place if you are considering downsizing.  You can start by going to www.ABQDownsize.com

 

Tools to Help Simplify Life Planning

by Elite Asset Management Team

Pete Veres, local Seniors Real Estate Specialist what to share to following information with you: " Tools to Simplify Life Planning". If you have any questions please reach out to your local Senior Real Estate Specialist Pete Veres, call/text 505-362-2005505-362-2005. Here to help and serve our clients.

Displaying blog entries 1-4 of 4

Syndication

Categories

Archives

Contact Information

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
2781349
"Pete was very helpful in every way, since I'm from out of state , Pete and his staff helped me find Contractors for the repair of windows, stucco, ... more "
5.0/5.0
by staanemern2
2593326
"I have to say Pete is the best realtor. He is very informative and knowledgeable about the loan process and closing. He would always let us know what ... more "
5.0/5.0
by gloriapena49