Real Estate Information Archive

Blog

Displaying blog entries 1-5 of 5

Should I Rent or Buy : Either Way You’re Paying a Mortgage

by Elite Asset Management Team

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. 

March 2016 RE/MAX National Market Update

by Elite Asset Management Team

 

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

4 Factors to Consider Before Your Next Home Search

by Elite Asset Management Team

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 SearchBefore 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.

Boost your Property’s Curb Appeal

by Elite Asset Management Team

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!

 


Time to Consider Real Estate investment Opportunities

by Elite Asset Management Team

 

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.

Displaying blog entries 1-5 of 5

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
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