We Specialize In These Albuquerque Area Communities

Rio Rancho - Corrales - Placitas - Bernalillo - Tijeras - Sandia Park
Edgewood - Los Lunas - Belen

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How the Fed’s Recent Rate Hike Impacts Our Market

The Fed’s recent rate hike shouldn’t have any significant impact on our market. In fact, it might actually stimulate it.

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On June 14th, the Federal Reserve increased its federal funds interest rate by 0.25%. They’re also widely expected to raise rates once or twice more over the course of 2017. What does this mean for the real estate market?

While any action by the Fed always garners a lot of attention, we believe these increases will not have any significant impact on our market.

First of all, mortgage rates have actually trended lower in the wake of the Fed’s recent announcement. The 30-year mortgage rate recently hit 3.9%, the lowest level in 2017. In fact, it’s a common pattern for the mortgage rate and the Fed rate to move in opposite directions, and the same thing has happened the last two times the Fed raised rates.

Second, the economy continues to do well. The Fed decided to increase its rate because unemployment and inflation are low, household spending is picking up, and we’ve seen steady growth for the past nine years. This is good news for the real estate market. As expected, we continue to see strong demand and a corresponding increase in home prices.

Third, while the Fed’s rate increase is normally meant to cool off the economy, it might actually stimulate it in this case. Because interest rates were so low for such a long period of time, experts believe the recent increases might ease pressure on the financial system and encourage lending.

These increases will not have any significant impact on our market.

Case in point: since the Fed started raising its rate in December 2016, total mortgages are up 2.5% year over year.

In conclusion, while any move by the Fed is likely to lead to a lot of hand-wringing, we believe the real estate market will not be affected and will continue on its own healthy course. Nonetheless, it’s clear that right now is a uniquely good moment for everyone in the real estate market. Today’s low mortgage rates are good for homebuyers because they make homes more affordable.

If you have any questions about our market or you’re thinking of buying or selling a home, give us a call at 877-933-6881 or send us an email at info@welcomehomeabq.com. We'd love to help.

A Different Approach to Buying Your First Home

Are you looking to buy your first home? If so, I encourage to look at the situation a little differently than you may have been to this point.

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Many prospective first-time homebuyers think their first home has to be perfect and that they'll be there for a long time. I encourage you, however, to think of your first home as your first investment property.

If you're saving up to get your first dream home, it might be time to buy your first home that's not necessarily your forever home, but one that's a two- or three-year house that you live in and then keep as an investment when you move to your next home. If you keep it as a rental home, someone else pays the rent while you get the equity.

While someone else pays your mortgage, you might also then be in a better position to buy that dream home as your second property. It's something to consider as you shop for your first house.
Think of your first home as an investment property.
Now, not everyone can buy a house without first selling their current home. In the short-term, it could make more options for you during your home buying process.

If you have any questions about buying your first home or about owning property as an investment, don't hesitate to give us a call or send us an email. We'd love to help you!

Let Us Help You If You’re PCSing into Kirtland Air Force Base

If you’re PCSing into Kirtland Air Force Base, we want to be your resource to help you with your housing and living arrangements.

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Over the years, we’ve been honored to assist many people who’ve flown into or out of Kirtland Air Force Base. If you’re PCSing into the Kirtland Base in the near future, we’d love to help with your housing situation and living arrangements, and there is a lot of information we can provide you with.

Let’s start with housing options. Homes in our area are typically single-family homes on single lots. We do have townhomes and condos available as well. We have lots of land, so our single-family homes are usually on their own lots, and most of their backyards are fully walled-in.

As far as schools go, there are many resources available online, so we can get you links to enable you to research the best option and connect with people who already have their children in schools.

Commute times in our area can vary. Right next to the base there is a newer neighborhood, but most of the homes situated within five to 15 minutes of the base are older. Many of the new homes in Albuquerque are in the northwest quadrant or in Rio Ranch. Depending on where you might find those newer homes, your commute might stretch to 30 minutes or an hour. Prices for new homes range from $175,000 to $250,000.
There are lots of ways we’d love to help you with your PCS into Kirtland.
If you get an opportunity to come to Albuquerque to house hunt, we would be glad to show you around. We also know you might not be able to arrange a trip to pick your house, so we have many resources to complete the process remotely. Once we’ve helped you narrow down your favored areas, we can help show you houses via Skype or Google Hangout.

There are lots of ways we’d love to help you with your PCS into Kirtland. You can also visit our website at www.welcomehomeabq.com for more information. If you have any questions, feel free to give us a call. We look forward to working with you.