How Is the Real Estate Market Doing This Year?

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We’re out and about all the time, and it seems like everyone is talking about real estate. The most common question is, “How is the market?” The May numbers are out, so we’re going to discuss the numbers this year versus the numbers from 2015.

In May 2016, there were 1,110 houses sold, versus 1,033 houses sold in 2015, which is a 7.5% increase. You might remember in 2015 that we were up from the number of houses sold in 2014, so that nice upward trend has continued. Year-to-date, we’re up over 10% for the number of houses sold, making now a great time to be a home seller.

In May 2016, the average sales price in our market was $219,000, which is up quite a bit from $208,00 back in 2015. That’s a 4.5% increase. Not only that, the average price per square foot this May was $113 versus $109 in 2015, which is a 3.7% increase. That is a pretty good indicator of actual price appreciation for homes in our market.

Finally, the number of houses for sale in May 2016 was 5,816, and in May of 2015 there were 6,610 homes for sale. We’re down by 12%, which is good news for sellers. You will have less competition on the market and your home will sell for more money.

If you’re a buyer in this market, it’s still a great time to lock in low interest rates before home values go up more.

If you have any questions, give us a call or send us an email. We would be happy to help you!

Is It Time to Sell Your Albuquerque Area Home?

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Today, we’ll discuss if now is the opportune time for selling your Albuquerque area home.

There’s a lot of factors that come into play with the decision to sell your house. Ultimately, it has to be the right time for you and your family. If you think it’s the right time personally, the market is most likely right for you.

Currently, home sales are up over 15% year over year. You’ve probably seen it in the news already! We have a few tips to help prepare your home for sale, if you’ve been considering listing your property.

• Call us. We’ll schedule a time to visit your home and address what needs to be fixed. Your list of repairs and upgrades, for instance, might not be the same as ours! We show thousands of homes and understand what buyers are most concerned about.

• We all watch HGTV. They talk about reducing clutter and putting personal things away. It really makes a difference when your home appears to be clean. Pack away ornaments, picture frames, and other trinkets in boxes and store them in the garage. It doesn’t hurt to address obvious repairs, either.

• Freshen up the yard. Address the exterior of your property. Make buyers go “wow” when they pull up to your home!

If you’re thinking about buying or selling a home in the surrounding area, give me a call or send me an email. We’d love to get in touch with you soon!

Tips for Holiday Decorating on a Budget

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The holidays are approaching. Today, we thought we'd do something a little different and share this festive video on holiday decorating tips from HGTV. Designer Angelo Surmelis shares several great ideas to spread holiday cheer throughout the home. Here are some of our favorites.

Pay attention to the mantle. If you don't have some already, buy some kind of garland to drape over the mantle. Next, use leftover ornaments and candles to add light and texture. When choosing ornaments and candles, ensure they are in the same color-palette. This helps make your mantle a great focal point!

Use smaller Christmas trees. Every house has their main Christmas tree. In addition, you can also purchase smaller, inexpensive, eco-friendly trees to place throughout the home. Decorate these trees with strips of fabric from a T-shirt in holiday colors to save money for the main tree.

Use what you have. Be resourceful. Adding a plate charger and place mat to your everyday dining set adds some jazz to your table. Fresh-cut flowers and candles will help finish the look. You don't need grand, expensive candles -- a little candlelight goes a long way!

As you can see, it doesn't take much to make your home feel more festive. If you have any questions, give us a call or send us an email. We would be happy to help you!