Real Estate Information

Elite Asset Management Team's Blog

Elite Asset Management Team

Blog

Pages:

Displaying blog entries 201-210 of 240

10 Ways to Boost Your Home's Value

Thursday, April 2, 2015

by Elite Asset Management Team

One of the most common questions I hear from homeowners is "How do I improve my home’s value?" Whether you're a new homeowner or you've been in your home for decades, you may wonder if there are things that you can do to improve your home's value. The information I'm sending this month will help you improve the value of your home over time. Page one offers tips and solutions to help you boost your home's curb appeal—the first impression that potential buyers and passersby have of your property. Page two focuses on the five renovations that offer the biggest returns, from replacing your front door to adding an attic bedroom. Pass this information along to your family and friends who may be curious about what they can do to boost the value of their homes. Oh, by the way®… if you know of someone who would appreciate the level of service I provide, please call me with their name and business number. I’ll be happy to follow up and take great care of them.

RE/MAX National Housing Report for Feb 2015

Thursday, March 12, 2015

by Elite Asset Management Team

Pete Veres wants to share the RE/MAX National Housing Report for Feb 2015. Local report to follow soon.

Buying a Home: What does your Buyers Agent do for you? Part 2

Thursday, February 5, 2015

by Elite Asset Management Team

Buying a Home: What does your Buyers Agent do for you? Part 2.

By: Pete Veres, CRS, CLHMS,SRES,ABR - Accredited Buyers Representative

Lets start this update with a quick video.

So here is a continuation of Part one: What we do for our buyers.

Educate you on market conditions.

18. We will let you know whether it is a buyers’ market or a sellers’ market.

19. I will go through statistics on what percent of list price the sellers are currently receiving.

20. We always show you the trends including, current average days on market, current absorption rate, and/or current months of

inventory.

We will guide you through making an offer and represent you and your

interests in negotiations.

21. I always prepare a CMA so that you make the proper offer.

22. We show you on what comparable properties are selling for.

23. We will explain the common contract contingencies.

24. We will get the appropriate seller disclosures.

25. Discuss the timing of deadlines.

26. We will work togther to put in place a negotiating strategy.

27. We will all local, state and federally required disclosure forms.

28. Complete the purchase agreement.

29. We will educate you on the contents of the sales contract and specifics to our market.

30. We will ensure that all forms are completed properly.

31. We will help you negotiate the best terms and conditions based on our current market conditions.

Buying a Home: What does your Buyers Agent do for you? Part 1

Friday, December 19, 2014

by Elite Asset Management Team

Buying a Home: What does your Buyers Agent do for you? Part 1

By: Pete Veres, CRS, ABR - Accredited Buyers Representative

Helps arrange financing.

1. Assist in locating sources of mortgage loans and options

2. He helps you review how much you can afford but how much you may want to spend.

3. He will provides assistance in comparing different financing options.

4. Helps provide information on purchasing incentives that may be available.

Assist in finding the right property.

5. Identify your needs and wants in a property.

6. Find appropriate available properties.

7. Set up an automated e-mail alert system that immediately notifies you of properties that fit

your requirements.

8. Sort through inaccurate information about homes in the area.

9. Provide ready access to all MLS-listed properties.

10. Network with other agents for properties not yet in the MLS

11. When required he can preview properties prior to showing.

12. Help select the proper homes for viewing that meet your needs

13. Aid in narrowing your search until you have identified your top choices.

14. Schedule all appointments to view homes

15. Assist in analyzing the pros and cons of each property.

17. Help you in evaluating properties for suitability, affordability, and resale value.

Albuquerque Real Estate Remax Albuquerque

Mortgage Rates Up A Bit But Remain Below 4%

Tuesday, December 16, 2014

by Elite Asset Management Team

Mortgage Rates Up A Bit But Remain Below 4%

We have seen about four weeks of decreases in mortgage rates and now the 30-year fixed-rate mortgage moved up a bit this week but stayed near yearly lows under 4 percent as per Freddie Mac's weekly mortgage market survey.

Freddie Mac reported the following national averages with mortgage rates for the week ending Dec. 11:

30-year fixed-rate mortgages averaged 3.93 percent, with an average 0.5 point, rising from last week’s 3.89 percent average. Last year at this time, 30-year rates averaged 4.42 percent.

15-year fixed-rate mortgages averaged 3.20 percent, with an average 0.5 point, rising from last week’s 3.10 percent average. A year ago, 15-year rates averaged 3.43 percent.

5-year hybrid adjustable-rate mortgages averaged 2.98 percent, with an average 0.5 point, rising from last week’s 2.94 percent average. Last year at this time, 5-year ARMs averaged 2.94 percent.

1-year ARMs averaged 2.40 percent, with an average 0.4 point, dropping slightly from last week’s 2.41 percent average. A year ago, 1-year ARMs averaged 2.51 percent.

Harvard’s 5 Financial Reasons to Buy a Home

Tuesday, November 18, 2014

by Eric Belsky

Harvard’s 5 Financial Reasons to Buy a Home

Nov 17 2014

Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. Last year, he released a paper on homeownership - The Dream Lives On: the Future of Homeownership in America. In his paper, Belsky reveals five financial reasons people should consider buying a home.

Here are the five reasons, each followed by an excerpt from the study:

1.) Housing is typically the one leveraged investment available.

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

2.) You're paying for housing whether you own or rent.

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”

3.) Owning is usually a form of “forced savings”.

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

4.) There are substantial tax benefits to owning.

“Homeowners are able to deduct mortgage interest and property taxes from income...On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

5.) Owning is a hedge against inflation.

“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”

Bottom Line

We realize that homeownership makes sense for many Americans for an assortment of social and family reasons. It also makes sense financially.

6 Pricing Mistakes Every Seller Can Avoid

Thursday, November 13, 2014

by Elite Asset Management Team

6 Pricing Mistakes Every Seller Can Avoid

Tue, November 4, 2014

If you’re getting ready to sell your home, you want to get the most money for your investment, right? One of the key factors that will sell your home is price, and having a sound pricing strategy is a must if you want to find the right buyer.

Here are six common pricing mistakes all sellers should avoid.

1. Overpricing from the start – You might think your home is the best on the block and should command a price relative to the value you see. Wrong. You have to appeal to the value homebuyers see. Overpricing your home at the onset could leave out strong potential buyers, especially if recent sales and other factors in your neighborhood don’t justify your listing price. You also run the risk of needing multiple price reductions, which keep your home on the market that much longer.

2. Leaving out potential buyers in online searches – Entering a price range is the first search parameter most homebuyers use to narrow down their options. If a buyer’s price range is, say, $250,000 to $300,000, they won’t see your home if it’s listed at $305,000. It might make sense to list it right at $300,000 so that you capture potential buyers in the ranges above and below. Ultimately, this is up to you and your agent, but the range your home's price falls into is certainly worth thinking about – especially if you're teetering between price ranges anyway.

3. Not considering recently sold properties – To arrive at a listing price that will generate buyer interest, you can’t base your price solely on the prices of other homes in your area that are listed for sale. You also need to consider recent sales in your neighborhood and the final sale prices. An experienced agent can provide you with information on recent sales to help you see the bigger picture.

4. Getting too creative with your asking price – Make it easy for buyers and pick round numbers. Listing a home for $512,477, for example, will give potential buyers pause about your intentions and divert attention from your property to you, as the seller. Maybe it's best to save the creative juices for the property description.

5. Not being open to negotiation – The quickest way to kill a sale is to dig in your heels on asking price before the for-sale sign even goes in the yard. Negotiation is a two-way street, and if you refuse to budge on pricing or other conditions, you might be in for very bumpy (and long) ride. Ask yourself: Is it more important to get full asking price, or can you make a few concessions to find common ground that will ensure a closed sale?

6. Ignoring your agent’s insights – The best route to the right price starts with picking a great agent and then listening to his or her advice. Your agent will look at your situation from all angles – your home's features, the local market, recent sales and more – to help you make an informed decision about pricing.

Sellers with Vacant Homes Please read this!

Friday, October 24, 2014

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.

Hire a caretaker for the property until it sells.
Ask a trusted neighbor to park his/her car in the driveway.
Install motion-sensor lights and set the interior lights to variable timers.
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.
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.

Albuquerque Real Estate

10 Reasons That You Maybe Ready to Invest in Real Estate

Monday, October 20, 2014

by Elite Asset Management Team

When it comes to property investment, timing is everything. Ultimately, choosing the right time to enter the market will have a significant impact on the long-term success of your investment.

But how can you as an investor know whether the timing is right? Global property portal Lamudi has compiled a list of 10 tell-tale signs that now is the time to start building your investment portfolio.

1. You are financially ready. You have saved enough for the down payment and you have also established your emergency fund. You have taken into account home maintenance expenses. Your credit history is good and you are able to meet all the financial obligations.

2. You have set your long-term goals. You have a clear picture in your mind of the purpose of your investment and you are flexible enough to adjust to changing circumstances. You are not hesitant and when the timing is right, you are able to adapt to the market needs and the development of technologies.

3. You have done your research. You know the neighborhood of your future property well enough to foresee the coming trends and the possible changes in the community. You have researched all the schools in the area as well as the best commuting means and you are able to predict the next homebuyer's needs.

4. You have chosen a stable economy. The area is financially stable, economic trends are promising and equities are surging. No demographic fluctuation or no irregular variation of population have been recorded in the area.

5. You understand the country’s policies regarding real estate. The policies of the region promote and encourage a positive, innovative environment as well as drive further economic growth. The tax policy in the country is positive for homeowners. Global innovation index is rising in the area.

6. Infrastructure projects are underway and likely to lead to an increase in property values. The infrastructure of the area is being developed with a focus on: transport, energy, solid waste and water management developments.

7. The region is moving toward sustainable development. The region’s awareness of global and local environmental issues is increasing, the demand for eco-friendly homes as well as for sustainable rural and urban development is rising. As more and more people head toward sustainable living, investing in sustainable property will increase its value in the future.

8. The location draws a lot of interest. Whether it is the best travel destination or the hot jobs spot, the location is always on the top of the search engine. It has become a successful startup hub already or is planning to do so in the coming years, driving a lot of job seekers into the area. The number of enrolled students is increasing every year and the area draws interest of international students.

9. You have found a reliable real estate agent. If you are an overseas buyer, it is particularly crucial to make sure you have a good representative on the ground. Your real estate agent is trustworthy and knows the local market well enough to be able to help you make the choice.

10. You have researched local differences in the property market. Whether you plan to invest in a residential property and turn it into a rental or an office space, you are fully aware of all cultural differences that might occur when you deal with a property seller.

September Real Estate Video Market Update

Friday, October 10, 2014

by Elite Asset Management Team

Pete Veres

505.362.2005

ABR
CRS
CLHMS

Albuquerque Real Estate Video Market Update

It's Still a Great Time To Buy!

Looks like we are in a strong buyer’s market and the right homes priced well are moving! Here is your market video with the most recent activity for Albuquerque Real Estate Video Market Update! Please click the link above to view and contact me if you have any questions regarding your next real estate transaction I'd love to assist you with your real estate needs.