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Sandia Heights Home Tour - Preview 4 homes Quickly

Friday, January 18, 2013

by Elite Asset Management Team

Quick Easy Way to Preview 4 homes without any pressure.

Tour starts at 2:00pm Sharp! April 28, 2013

Please meet us at 2:00pm and then we will head off to the second home at 2:15. We tour 4 homes and spend about 10 minutes at each. We want to make this quick and easy and if your would like to go back to one of these homes or any others just let us know and we will set up an appointentment thats works best for you.

Sandia Heights Home Tour

Elite Asset Management Team – RE/MAX Elite

Hosted by: Pete Veres 505-362-2005

Time	Address	Size	List Price
2:00-2:15pm	2134 Coyote Willow Drive NE	1605 sq ft	$230,000
2:25-2:35 pm	1484 Morning glory Rd NE	3200 sq ft	$539,000
2:45-2:55pm	547 Black Bear Loop	2996 sq ft	$450,000
3:05-3:25pm	33 Cedar Place NE	2886 sq ft	$500,000

If you would like your home to be on the next Sandia Heights home Tour contact Pete Veres at 505-362-2005.

Albuquerque Real Estate sandia heights

Top 10 Housing Predictions for 2013

Tuesday, January 15, 2013

by Elite Asset Management Team

Pete Veres and Sean Hellmann would like to share some very good news. Top 10 Housing Predictions for 2013 revealed by RE/MAX Co-Founder and Chairman, Dave Liniger. The housing market made a sharp rebound in 2012, find out if this trend continues in 2013 and what else the New Year has in store homebuyers, sellers, investors and agents. The Elite Asset Management team is here to help with all your real estate requirements.

In this new video released today, RE/MAX Chairman and Co-Founder Dave Liniger makes his real estate predictions for 2013, and states that 2013 could be the best year in real estate in many years.

Dave Liniger's Top 10 Real Estate Predictions for 2013:
1. More Homebuyers and Sellers come back to the market
2. Homes sales will rise by 6-7% and prices rise by 3-4%
3. The inventory of homes for sale will hit a bottom
4. Higher-priced homes begin to sell
5. Distressed property numbers continue to fall
6. Shadow inventory continues to fall
7. The number of short-sale closings will rise to a peak
8. Record-low mortgage rates rise slightly by year-end
9. Lending remains tight
10. Home affordability remains the best in years

Preventing and Thawing Frozen Pipes

Monday, January 14, 2013

by Elite Asset Management Team

Preventing and Thawing Frozen Pipes

With the recent cold snap Pete Veres and Sean Hellmann want to share the following important information.

Why pipe freezing is a problem
Water has a unique property in that it expands as it freezes. This expansion puts tremendous pressure on whatever is containing it, including metal or plastic pipes. No matter the "strength" of a container, expanding water can cause pipes to break. Pipes that freeze most frequently are those that are exposed to severe cold, like outdoor hoses, swimming pool supply lines, water sprinkler lines, and water supply pipes in unheated interior areas like basements and crawl spaces, attics, garages, or kitchen cabinets. Also, pipes that run against exterior walls that have little or no insulation are also subject to freezing. Pipe freezing is a particular problem in warmer climates where pipes often run through un-insulated walls or under insulated attics or crawl spaces.

Preventing Frozen Pipes: Before the onset of cold weather, prevent freezing of these water supply lines and pipes by following these recommendations:

Drain water from swimming pool and water sprinkler supply lines following manufacturer's or installer's directions.
Do not put antifreeze in these lines unless directed. Antifreeze is environmentally harmful, and is dangerous to humans, pets, wildlife, and landscaping.
Remove, drain, and store hoses used outdoors. Close inside valves supplying outdoor hose bibs. Open the outside hose bibs to allow water to drain.
Keep the outside valve open so that any water remaining in the pipe can expand without causing the pipe to break.
Check around the home for other areas where water supply lines are located and are in unheated areas. Look in the basement, crawl space, attic, garage, and under kitchen and bathroom cabinets. Both hot and cold water pipes in these areas should be insulated. A hot water supply line can freeze just as a cold water supply line can freeze if the water is not running through the pipe and the water temperature in the pipe is cold.
Consider installing specific products made to insulate water pipes like a "pipe sleeve" or installing UL-listed "heat tape," "heat cable," or similar materials on exposed water pipes. Many products are available at your local building supplies retailer. Pipes should be carefully wrapped, with ends butted tightly and joints wrapped with tape. Follow manufacturer's recommendations for installing and using these products. Newspaper can provide some degree of insulation and protection to exposed pipes - even ¼" of newspaper can provide significant protection in areas that usually do not have frequent or prolonged temperatures below freezing.

During Cold Weather, Take Preventive Action:

Keep garage doors closed if there are water supply lines in the garage.
Open kitchen and bathroom cabinet doors to allow warmer air to circulate around the plumbing.
Be sure to move any harmful cleaners and household chemicals up out of the reach of children.
When the weather is very cold outside, let the cold water drip from the faucet served by exposed pipes.
Running water through the pipe - even at a trickle - helps prevent pipes from freezing because the temperature of the water running through it is above freezing.
Keep the thermostat set to the same temperature both during the day and at night.
By temporarily suspending the use of lower nighttime temperatures, you may incur a higher heating bill, but you can prevent a much more costly repair job if pipes freeze and burst.
If you will be going away during cold weather, leave the heat on in your home, set to a temperature no lower than 55ºF.

House Passes Senate ‘Cliff’ Bill

Wednesday, January 9, 2013

by Elite Asset Management Team

Real Estate Provisions in “Fiscal Cliff” Bill

On Jan. 1 both the Senate and House passed H.R. 8, legislation to avert the “fiscal cliff.” The bill will be signed shortly by President Barack Obama.

Below is a summary of real estate related provisions in the bill:

Real Estate Tax Extenders
• Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014
• Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
• 15 year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012.
• The 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.

Permanent Repeal of Pease Limitations for 99% of Taxpayers

Under the agreement so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers. These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000. These thresholds have been increased and are indexed for inflation and will rise over time. Under the formula, the amount of adjusted gross income above the threshold is multiplied by three percent. That amount is then used to reduce the total value of the filer’s itemized deductions. The total amount of reduction cannot exceed 80 percent of the filer’s itemized deductions.

These limits were first enacted in 1990 (named for the Ohio Congressman Don Pease who came up with the idea) and continued throughout the Clinton years. They were gradually phased out as a result of the 2001 tax cuts and were completely eliminated in 2010-2012. Had we gone over the fiscal cliff, Pease limitations would have been reinstituted on all filers starting at $174,450 of adjusted gross income.

Capital Gains

The Capital Gains rate stays at 15 percent for those at the top rate of $400,000 (for individuals) and $450,000 (for those filing a joint return). After that, any gains above those amounts will be taxed at 20 percent. The 250/500k exclusion for sale of principle residence remains in place.

Estate Tax

The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax. After that the rate will be 40 percent, up from 35 percent. The exemption amounts are indexed for inflation.

Albuquerque population could reach 1 million in 2018

Monday, January 7, 2013

by Elite Asset Management Team

Albuquerque could have a big boost in population during the next five years, according to an American City Business Journals On Numbers report.

Fifty-two U.S. metropolitan areas currently have more than 1 million residents. Tucson, Ariz., was the latest to join the million-plus club, crossing the threshold just five months ago.

But it won’t be the last entry. On Numbers has identified 28 other metros that have a decent shot at reaching a population of 1 million by 2050.

The closest to that goal are Honolulu, Fresno, Tulsa and Albuquerque, according to the report.

Honolulu should get there first. It’s Jan. 1, 2013, population was 976,894, based on On Numbers’ latest estimates. If its recent growth patterns continue, Honolulu will reach 1 million on July 28, 2015.

Albuquerque is expected to grow from 918,876 at the start of 2013 to 1 million on Sept. 21, 2018.

On Numbers has developed a computer program that analyzes more than a decade’s worth of demographic data to project the populations of states, metropolitan areas, counties and cities at any given moment.

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