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Expert Tips for Navigating the Real Estate Market

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A Quick Update on the Albuquerque Real Estate Market


As spring kicks into full gear, the market around Albuquerque is heating up. Here’s what’s going on right now.


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We’re back with a market update for you that covers the Albuquerque real estate market through March.

Home sales have been really hot, which is what I want to talk about first. As you can see in the video above, the big story has continued to be our lack of inventory. Especially under $200,000, we have 38% fewer homes available than we did last year.

Another good thing to look at is our supply of inventory, which is measured in months. If you look at the $200,000-and-under range, we only have 1.6 months of inventory. This puts us in a strong seller’s market for most price points. However, in the higher price points ($450,000 and above), we’re seeing more of a balanced market.

Low inventory continues to dominate most of the market.


 Finally, let’s take a look at home sale prices. The average sale price right now is around $234,000, the highest we’ve seen in a long time. We continue to see a good amount of steady appreciation for homes. We can really see this in the average price per square foot, which is up 8% for all price ranges.

I hope this update has given you some good information. If you need more or if you just have any questions, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

Don’t Underestimate Your Budget


Don’t underestimate your budget when buying a home. It can actually hinder the process quite a bit.

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We’re back today to discuss the third thing you shouldn’t do when buying real estate, which is underestimating your budget.

Contrary to popular belief, Realtors are there to listen to you and help you navigate you toward the home of your dreams. If you aren’t upfront with your agent from the start, however, you could end up missing out on your perfect home.
Our job is to negotiate the best deal possible for you.
Our job is to work for you and negotiate the best deal possible that not only makes you comfortable, but fits your wants, needs, and non-negotiables. The key to accomplishing this is being honest, open, and upfront as a buyer.

If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

Homebuyer Tip No. 2—Never Pick a Lender Based Solely on Their Rate


When choosing a lender, don’t just make a decision based on the interest rate they offer. There are other things you must take into consideration too.

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If you need a loan to buy your home, never pick a lender based on the interest rate they offer. Why?

While interest rates are definitely important, there are many other factors that come into play when it comes to lending that most people don’t realize. The fees that the lender charges to do the loan should also be taken into consideration, as well as their reputation and their ability to close on time.

As you might notice in the video above, I’m standing in front of a pile of leaves. This is because lending these days involves a pile of paperwork, and you need to be prepared for it and know that you’re not being picked on. Every lender has to ask you for lots of documents, and then ask for them again so they can be updated. It takes a lot of effort from you to get a home loan, and that’s the way it should be.
It takes a lot of effort on your part to get a home loan.
Stayed tuned for the third part in our ongoing series providing tips for homebuyers. In the meantime, if you have any questions or are thinking about buying a home in our market, don’t hesitate to reach out to us. We’d be happy to help you.