Per my friend Tim Fish, their market has taken off like a rocket this month. He is quite pleased and wanted to get the word out, so here's what he has to say...
The $8,000 seems to have “stimulated” the housing market for now. As predicted, With the Tax credit ending at the end of this month (April 39, 2010), buyers have waited until the last minute and have found themselves in bidding wars.
Sellers are loving it, but at the same time, most are holding their breath until the appraisal comes in at the negotiated price.
According to GAAR (Greater Albuquerque Association of Realtors), we have seen the strongest March since 2007. With 634 closed home sales and more than 1,000 pending sales, this month has turned some heads. I can’t help but to think that April may be even stronger.
Rio Rancho is on the rebound with a 54 percent increase in closed sales from March 2009. Albuquerque has steadily climbed this year and was up 34 percent with 440 closed sales this past month. $140 million dollars in transactions in March 2010 has been reported from the MLS, which is up more than 30 percent from March 2009, according to GAAR.
Advice to buyers - If you find a home that will work for you, run back to the office with your Realtor and write it up, because there is a very good chance that someone is doing the exact same thing on that house!
Advice to sellers - If you've gotten that long awaited offer, have your Realtor pull comps and wait by the door for that appraiser. (and be nice!!). You are going to need every edge you can get!
Tim Fish is an expert on Albuquerque homes for sale, and is a partner with his father Dennis, in The Albququerque Real Estate Group.
Sunday, April 18, 2010
Tuesday, April 13, 2010
Just finished a new website for Tree Services in Myrtle Beach, DAM Tree Services Inc.
DAM stands for the owner's name, Duncan A McInnis. He finds the company name easy to remember for his repeat customers...:-)
As usual I spent quite a bit of time researching tree services, palm tree trimming, live oaks, and some of the equipment the tree guys use. I told one friend that before it was over with, I will know something about every kind of profession!
Anyway, Duncan impressed me with his good nature, good looks, and business integrity. He tells me that he has a 100% satisfaction guarantee and his customers don't pay until the job is done. In this day and time, that's very impressive. Please give his website a look, and if you need the services of a tree expert, Duncan is the man for the job! www.damtreeservices.com
I'm starting to get a nice collection of Myrtle Beach businesses, and more on the way. I have a partnership with a friend Melissa who also does web design, and she recently did a site for a local Myrtle Beach Swimming Pool Contractor, Arnold's Pool Company. Several months ago I finished our local Allstate agent's site, Scott Todd, with the cheapest car insurance in SC.
I am possibly going to start one this week for Audio Rhythms in Little River, and re-do a golf site as well. Feast or Famine! I prefer feasting any day! :-)
Posted by Admin at 2:06 AM
Tuesday, April 06, 2010
What will happen to your real estate sales when the tax credit goes away? I recently posed this question to Tim and Dennis Fish, who sell real estate in Albuquerque NM with Coldwell Banker Legacy. I wondered if home sales would drop drastically, and if so, how would they handle all the Albuquerque homes for sale.
There, as everywhere, the inventory of homes and condos is large, and mortgage companies are tight. Unlike many areas, real estate prices did not escalate wildly during the boom, however the industry is being impacted now, as are the losses and foreclosures that go with it. When the tax credit ends, will prices drop further, creating even more foreclosures?
These three questions have people in the real estate industry buzzing. Tim and Dennis agree the answer to number one may be as simple as "Life goes on". The tax credit was meant to be a stimulus package. It was to help stimulate our economy toward growth. In Albuquerque it seems to have been a successful effort.
"First time homebuyers have been taking advantage of the package well in excess of the previous version," says Dennis, but all good stimulus packages must come to an end."
So, I asked, will the sales take a dump? Tim said no, he doesn't think they will.
"I do expect a change, but not a stop of people buying homes! Sellers will have to become more realistic about pricing their properties, and making sure that their property shows well when placed next to their competition as buyers continue to bargain even more. Price it right and make sure it's cleaned and refreshed", Tim answered me confidently. "It's a price war and a beauty pageant!"
Will home prices drop drastically? Tim's father, Dennis, says they will be impacted, but he doesn't know how much.
"I believe that foreclosures will become the 'Hot item' in our market place" Dennis told me. "The prices are often below the market and there is often the chance to buy at an attractive price and do some rehab yourself and gain instant equity".
I guess we all agree that life will go on and homes will continue to sell. If you are thinking of buying, now is still the time! The types and prices on homes in Albuquerque and elsewhere are better than they've ever been. Search the Albuquerque MLS and you'll see every kind of home and condo imaginable. And if you've been thinking of relocating to New Mexico, look up the Albuquerque Real Estate Group. With the experience and enthusiasm they offer, you'll have a great time finding that perfect home!
Posted by Admin at 1:27 AM