ABQ Real Estate Prediction

Well, here goes....... my personal Crystal Ball for 2011. What is the good news? Prices will continue to stabilize and inch up month by month. Mortgage rates will go up to 5% which still is terrific. All and all, it will be a good time to buy because buyers can have some confidence that if they make an investment now, the value will hold and begin to appreciate over the next five years. Already, I have more buyers who want to purchase in this first quarter than I have had in the last two years. I sense that people are more secure in thier jobs as the mass layoffs have all but disappeared, and the stock market is positive so no more losses are expected in that arena. Retail sales are up and real estate is next, I think. For sellers, the time to sell will be better in 2011. Prices won't be up from the past two years, but the slide downward in value has largely stopped. There are foreclosures that will need to be sold this year and those are tough competition, but that too shall end. The thing I see is the return to a "Fair Market" value. Not that buyers won't still come in with low offers, but they quickly up the offer when the Seller counters at a reasonable price. Homes that are selling are selling at fair prices. Homes that are in good condition and fairly priced sell within 60 days. The days of wildly inflated prices, and profits, from real estate may be over, but property once again will be a good, reliable investment for the future. I am forecasting an improved market. There it is..... my Crystal Ball. Call me if you want to discuss your particular situation. 2011 will be the year to make a move!

Biggest Mistake Home Sellers Make?

What is the Biggest Mistake Made by Home Sellers in Today's Real Estate Market?As a home seller, maybe you weren't aware that's there one huge mistake you may be making. If that's the case, I want to show you how to correct that mistake and get all the money you deserve from your property!Okay, what's the biggest mistake made by sellers in the current real estate market? The answer may surprise you. By far, the biggest mistake is... Not making a counteroffer on purchase offers you deny!It's one of those things that's so simple and so obvious that we tend to overlook it. Let me explain why counteroffers are so important.When a buyer comes in with a very low price, many sellers get insulted and automatically cross that buyer off the list. This is a HUGE MISTAKE!A lot of buyers come in at a low price on the first offer just to see what will happen, and that's true even when they're prepared to pay full price. In other words, they're testing the waters and hoping to get lucky.So, instead of blowing them off, try to come to an agreement with an offer of your own that's below what you're asking but above what they offer. Your aim is to keep the lines of communication open.Here's the "nitty gritty" of any home transaction: the buyer wants to pay as little as possible while you want them to pay as much as possible. That's why they call it "negotiating."So, remember, counteroffers can be a great way to sell and buy a home.But also remember that it's important to have the right real estate agent working for you. You want an experienced pro who knows all about negotiations and counteroffers. In this situation, you definitely don't need a "rookie:" you want a true professional who's done a number of successful deals.
I love negotiating and have had special training in it so do give me a call. We just listed a house in mid-December at a fair price and within two days got two offers, one of them cash. Through negotiation of closing costs, we got our Seller $5000 more than the asking price. Negotiation is not always about the price either. Call me. I love negotiating!! 505-220-9193,

ACT NOW TO GET $8000 TAX CREDIT

Act Now To Get First Time Buyer Tax Credit
The $8,000 tax credit for first time buyers is working, drawing new people into the market and providing a big reason for growing home sales in metro Albuquerque. While the program ends November 30, as a practical matter, it ends in early September. That's because it typically takes from 45 to 60 days from signing a purchase agreement until a sale closes. You must close and fund on your new home by November 30 to quality for the tax credit.
The $8,000 tax credit is only for first-time home buyers. The law-the American Recovery and Reinvestment Act of 2009-defines "first-time home buyer" as someone who has not owned a principal residence during the three-year period before the purchase.
The tax credit is refundable. It could mean cash for you. If you pay less than $8,000 in federal income taxes, the government will write you a check for the difference.
Home buyers who file as single or head-of-household taxpayers can claim the full $8,000 credit if their modified adjusted gross income is less than $75,000. For married couples filing a joint return, the income limit doubles to $150,000.
The tax credit especially appeals to people seeking more affordable homes. Inventories are low in this range. Homes are selling quicker and for higher prices. It's a sellers market for more affordable homes. If "more affordable" describes your home and you are considering selling, it is a good time to move up, to get that extra bedroom..
For higher priced homes, however, it's a buyers market. Inventories remain high for these homes. Plenty of choice exists and you can still get a good deal. For first time buyers, the New Mexico Mortgage Finance Authority created the Tax Credit Loan Program