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Greater Albuquerque Market Update March 2013

by Elite Asset Management Team

I wanted to take a moment and share the latest Greater Albuquerque Market Update with you for March 2013.

We are seeing some good news for sales of single family detached homes in the Greater Albuquerque Area. Sales are up 12.75% from the same period last year.  March marks the fifteen month where the current month’s sales exceeded the same month the prior year.  Pending sales of single-family detached homes rose 8.52% from the previous year and increased 21.36% from February 2013.

Now is the perfect time to take advantage of our market, especially buying as interest rates are starting to edge up.

We also have several programs available for you if you are looking to sell and either move up or downsize. The time could be now.

Please give me a call at 505-362-2005 to discuss any questions you may have or any friends or family that will need my help.

Thank you for your time and consideration.

Best Regards,

Pete Veres
505-362-2005

Top 10 Housing Predictions for 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

Real Estate is still one of the Best Investments

by Elite Asset Management Team

Pete Veres and Sean Hellmann want to share this quick video. Warren Buffet continues to state that SF homes are the Best Investments. Pete Veres, CIAS - Certified Investment Agent Specialist also wants to add that right now multi family units are providing a great ROI & cash flow as prices are extremely low right now and rental demand is high.

 

Home Prices Rise - National Housing Report

by Elite Asset Management Team

Pete Veres and Sean Hellmann want to share a bit of good news. We have started to see some positive signs locally here in Albuquerque. RE/MAX CEO Margaret Kelly appeared on CNBC's Street Signs on March 14, 2012 to discuss the RE/MAX National Housing Report, which found that for the first time in 18 months, home prices rose year-over-year in February

Mortgage rates tumble to record low

by Elite Asset Management Team

Wonder if it is still a good time to buy in the Albuquerque Real Estate Market?  The great news for Buyers this year is current interest rates continue to tumble week by week.  This is also good news for Sellers as more buyers are jumping on these historic low interest rates.  For more information on the continued trend of low mortgage rates please ready this article found on MSNBC: http://www.msnbc.msn.com/id/38770102/ns/business-real_estate/t/mortgage-rates-tumble-record-low/

If you are thinking about buying or know someone that is considering taking advantage of the low interest rates please contact Sean Hellmann or Pete Veres with Re/Max Elite and the Elite Asset Management Team.

We have excellent resourses for great loan programs to include First Time Buyer loan programs, investor loans, conventional loans and VA Loans.  We are ready to help you at anytime in this great Albuquerque Real Estate Market.

Top 5 Mistakes Sellers Make When Selling a Home

by Elite Asset Management Team

Pete Veres and Sean Hellmann would like to share with you on how to avoid the 5 Top Mistakes Home Sellers make when selling a home. Choosing to work with a qualified RE/MAX agent can help you avoid costly mistakes such as incorrectly pricing your home, not preparing your home for sale, and ineffective marketing. Choose Wisely. Choose the Elite Asset Management Team with RE/MAX Elite

 

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RE/MAX 2012 Top 10 Real Estate Market Predicitions

by Elite Asset Management Team

Pete Veres and Sean Hellmann would like to share the video with you. RE/MAX Chairman and Co-Founder Dave Liniger reveals his Top 10 Predictionds for the 2012 US Real Estate Market. Some great stats!

Housing Prices - What to Expect in 2012

by Elite Asset Management Team

Often the Elite Asset Management Team is asked how the Albuquerque Real Estate Market is doing?  As an expert the Elite Team researches the market and reads articles to keep us informed on the latest market trends.  I found this interesting article in DS News that discusses the current market and the road to recovery.  Read the article here: http://www.dsnews.com/articles/housing-market-strengthening-but-long-road-to-recovery-lies-ahead-2011-12-23

Many of the statements within this article I find true in the local Albuquerque Real Estate Market.  The inventory of homes in the Month of December was at its lowest point that our team has seen in years.  There are many factors for this, but all signs point to a healthier inventory of  homes based on demand.  It is true that distressed sales are on the rise in the local area, but many of those properties will require some investment to improve those properties in order to move into or to attain them as investment properties.  Non-distressed properties are still selling and the decline of price is not as significant as many people may think.  Non-distressed properties are great options for many buyers because they simply do not want to invest the money or time into fixing up a property.

Our team hope you enjoy this article and hope it brings you some insight to how our market will evolve during 2012.

If you have any Real Estate needs feel free to contact Sean or Pete with the Elite Asset Management Team.

Happy New Year!

Sean and Pete

Why Buy vs. Rent?

by Elite Asset Management Team

 

Why should you Buy a home vs. rent in the current state of the economy? If you are following the news on the economy it would be enough to scare you into hiding.  Many clients that I work with are always asking why buy instead of rent when the economy and real estate market are experiencing the worst markets in history?  I have some answers that might make you consider that this is the time to Buy in the Albuquerque Real Estate market instead of Rent.

Recently, I was reading some interesting articles that may encourage you that Buying a home and paying a mortgage is one of the best investments still out there.  In a recent Wall Street Journal article: http://online.wsj.com/article/SB10001424052970204774604576629443313035736.html  one of the growing trends around the country and now in the Albuquerque Real Estate market is that a mortgage on a home is becoming more and more affordable compared to renting.  For example, a $250,000 mortgage in the Albuquerque area could cost you $1700 per month and that is assuming you only put down 3.5% and do an FHA loan. Other loan programs could lower that monthly payment.  To rent a comparable home in Albuquerque you would look at spending anywhere between $1600 to $2000 per month.  There are many positives to buying a home and the short list is; tax incentives, building equity and home ownership. Check out this article in Forbes Magazine that discusses some good examples how owning a home and paying a mortgage can improve your retirement: http://www.forbes.com/sites/financialfinesse/2011/10/13/the-next-mortgage-crisis/.

My personal belief is that many buyers are savvy enough to realize that this is one of the best times to buy a home.  The Albuquerque Real Estate market is one of the most affordable markets in the country and with interest rates combined this is a great time to buy.  If you are still wanting to weigh your options feel free to give the Elite Asset Management Team a call.  Our Team would like the opportunity to share some of the best bargains in the marketplace. 

Warm Blessings,

Sean and Pete

 

Foreclosure fears foster true grief

by Elite Asset Management Team

Reports of foreclosures by the millions have been in the news so much over the past few years that to some, it might seem like the new normal. But as a real estate professional who is in the trenches with financially stressed homeowners every day, it never for a second feels to me like business-as-usual. Our Real Estate team specializes in the Albuquerque Distressed Sale market and we have been helping families with this type of struggle since 2007.

The prospect of losing ones home is right up there among the major sources of grief, and often, it goes hand in hand with other tragic setbacks such as the loss of a job, a divorce, death of a loved one, mounting medical bills or skyrocketing mortgage payments.

Unfortunately, the first stage of grief is denial, and that’s even more the case when the threat of foreclosure is looming. No one wants to talk about or admit financial troubles—even when millions of others have found themselves in a similar spot.  It’s completely understandable, but for homeowners who are behind on mortgage payments, decisive action is often the most critical step toward ensuring the best possible solution.

As a real estate professional in the Albuquerque Real Estate market who has sought out the Certified Distressed Property Expert (CDPE) designation, our team helps homeowners to deal with every aspect of the grief and uncertainty that accompanies a mortgage which is no longer manageable. In the process, we help them to get on a path of financial solvency.

If you or someone you care about would like to change the course of a life that’s facing foreclosure, our team gets it and we can help.

Contact Pete or Sean with the Elite Asset Management Team at [email protected] or call Sean at 505-453-3002 or Pete at 505-362-2005.

Our Team is here to help with anyone that is facing foreclosure.

Warm Blessing,

Sean and Pete

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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
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