Marketing Your New Mexico Home.

So, you have decided to sell your home. Should you sell it yourself or find a Realtor?

Selling your own home has several advantages, saving money on the listing commission and knowing who is coming into your home. But several disadvantages such as time, doing open houses, making yourself available to show. Cost of signs, advertising and other marketing, and possibly the expense of a real estate attorney. Do you really save all the money on the listing commission not really general "For Sale by Owner Buyers" bid well under the asking price, knowing you are not going to be paying a commission.

Discount Brokers are another option that will for a fee put your listing into a multiple listing service or discount a portion of their commission. From my experience you see alot of expired listings after the 90 contract or even six month contract expires because putting your home in the MLS system does not mean it will automatically sell. Why? although agents are required by law to show all potential buyers all potential properties for sale the properties that will get shown first are those that pay the agent the highest commission. Alot of discount brokers who take a listing just to get the listing try to pass on this lowered commission to the buyers agent. So in reality if there are 30 houses currently to show on the market, the listing paying the highest commission to the agent are going to be shown first.

Even Full Service Brokers can vary the amounts of products and services they offer, the more marketing and advertising the more chances to have multiple buyers and most important multiple offers. Take for example the for sale by owner that only places there sign in front of their home but does not advertise in any other way. The buyer must happen to pass buy that street, must actually stop to see the home, then decide to buy. This does not allow the buyer across town, across the state, or the country the ability to even know the home was for sale. On average we personally have been averaging $18,000 above the regular asking price of the home because we market aggressively.

However you decide to sell your home, the process should be profitable, painless, and easy.

Nations Home Inventories rising by 60%

The number of existing homes listed online for sale in the largest 100 metro areas in the nation grew 60 percent from May 2005 to May 2006, according to an analysis of homes listed online at the Realtor.com property-search site.

The survey, conducted by Corzen, a real estate research firm based in New York City, found that the inventory of homes listed in these metro areas grew from 1.3 million in May 2005 to 2.3 million in May 2006.

Median list prices were up 8.4 percent from May 2005 to May 2006, while "in some parts of the country … median asking prices showed steep declines, a clear sign of softening with the real estate market," Corzen announced today.

However markets like San Antonio, El Paso, & Albuquerque home sales continue to increase, current inventory for the Albuquerque metropolitan area is down about 300 units from the same time last year.

Albuquerque Homes market is HOT!!!!!!!!!!!!

Upon reading several news articals including CNN Money about the hot markets in the country Albuquerque, NM is among the top. for full article follow this link:

http://money.cnn.com/2006/05/12/real_estate/reguide_moneymag_albuquerque_0606/index.htm

Loan Applications Down - Not in New Mexico!

Mortgage application volume was down last week as interest rates declined on long-term mortgages, according to the latest survey from the Mortgage Bankers Association.

The market composite index, a measure of mortgage loan application volume, was 552.6, a decrease of 6 percent on a seasonally adjusted basis from 588 one week earlier. On an unadjusted basis, the index decreased 6.2 percent compared with the previous week and was down 23 percent compared with the same week one year earlier.

The seasonally-adjusted purchase index decreased by 7.1 percent to 396.4 from 426.7 the previous week whereas the refinance index decreased by 4.3 percent to 1480.5 from 1546.8 one week earlier

Inflation and the Interest Rate

Just when the Fed stated yesturday they probably were not going to increase Interest rates any higher, they will have to. With the high costs of gasoline, businesses can no longer absorb the fuel delivery costs of their wholesale items and will have to raise there prices. Can the Fed keep Inflation in check? Time will tell? my personal opinion is no.

Forbes: Albuquerque Best Place for Business!!

Forbes announced yesturday that it has ranked Albuquerque as the Best Place for Business and Careers in the United States. AED Chairman of the Board Carolyn Monroe said "these are exciting times in New Mexico and a significant achievement for our community and state. This ranking is a testament to the incredible partnership that exists between thepublic and private sector, and to the collective effort of so many people working to improve our business climate. We express our thanks to Forbes, and to the Governor and Legislature, Congressional Delegation, Mayor and City Council, County Commission and Manager, and to other partners of ours within the region. Additionally, we come to this point through the investment, risk and vision of so many business leaders who have made a difference for our economy and for our citizens. Our future has never lookedbrighter."

To See The News Release from Forbes Ctrl +Click: ALBUQUERQUE, NEWMEXICO TOPS FORBES' 8th ANNUAL BEST PLACES FOR BUSINESS AND CAREERS SURVEY

CBOE - Chicago Board of Options Exchange

Announced in March the launch of housing futures contracts using NAR's monthly existing home sales data. These contracts are based on the direction of home prices either nationally or regionally. These contracts will allow, homeowners, lenders and home builders a chance protect investments with the same strategies as Wall Street investors.

SellYourHouseNewMexico Website

BuyaHouseNewMexico, SellYourHouseNewMexico and BuyLandNewMexico websites are currently under renovation and will be down until about April 7th, 2006. We are updating the content, creating 360 pages of user friendly information and creating for our clients a more enjoyable web experience, please visit us when we return or post your comments here...

Average Albuquerque Home Price

Did you know the average home price in Albuquerque was $184,365 in 2005 but already in 2006 that number has grown to $207,144 for the first quarter of this year? 53 homes sold above the $400,000 price range.

Housing Market takes a 5% dip in January 2006, but over all for the western states we saw a 11.3% increase in Sales after a 6.3% rise in December. Will this trend continue with the interest rates currently 6.26% expected to rise this year?

Remodel or Not to Remodel?

How do you decide if you should remodel that kitchen or bathroom before you decide to sell? Well on average the cost to remodel a bathroom is $9705 in Albuquerque but you will recoup $9773 on average giving that bathroom remodel statistic of 100.7% a good idea. As for the kitchen? a small remodel job average is $14,333 with a resale value of $14,825 a cost recouped of 103.4% But replacing those single pained windows for thermal double pained recoups the most dollars of 111.1% !!!! (statistics provided by remodeling magazine annual 2005 report for Albuquerque).

November Housing Market

Currently the Albuquerque housing market has showed no signs of slowing up this winter, still only an active inventory of 2900 resale homes in the whole metro area (not including for sale by owners), and more talk on the new proposed Mesa Del Sol project and other new homes construction projects.

Real Estate Happenings Albuquerque

Hello my name is William Staab welcome to my Blog. This Blog is intended to be a forum for everyone interested in Rio Rancho, and Albuquerque metropolitan area real estate. If you have questions regarding Albuquerque Real Estate, or the home buying process, I will try to answer it here and provide useful home information, tips and statistics. Or if you would like to ask me a question directly you can email me at: info@buyahousenewmexico.com or visit my website: www.SellYourHouseNM.com.