We often get the question: “Hows the real estate market doing?” Although we always strive for more growth here is a very condensed version of the 2nd quarter market report from Greater Albuquerque Association of Realtors. As you can see we are increasing in every way here in the East Mountains.

Comparing the period between April 1 and June 30 of 2013 and 2014.

New Listings: +10.91%

Closed Sales: -6.85%

(Closed sales in East Mountains: + 14.29%)

Average Sale Price: +4.57%

If you are interested in a more thorough report you can find the full pdf here.

 

http://www.gaar.com/market-statistics/quarterly/2014-2nd-quarter-sales-report

 

 

 

Its that time of year!

New Mexico Horse Rescue at Walkin ‘N Circles Ranch – WNCR Chuck Wagon Dinner, June 21, 2014 .

Tickets still available
TICKETS ARE ON SALE NOW! – Get ’em before they are gone!
Fourth Annual Chuck Wagon Dinner on June 21, 2014

We still have a limited number of table sponsorships available and are accepting donations to our silent auction!! A great way to promote your business and reward your employees!

www.wncr.org
(505) 286-0779

Come out to the Town of Edgewood clean-up on Saturday May 10th from 9:30 am – Noon. Meet at the Town Offices at 1911 Old Hwy 66. For more information call 505-386-4518.

When we all come together to keep our community clean we all get to enjoy that clean community.

Quick Fixes to Help Sell a House.

Here are just a few things that can help the show-ability of your property. As a real estate agent I will thank you in advance for tackling at least some of these.

1) One of the number one things that I always hear real estate agents talk about when listing a property is the amount of personal items aka knick-knacks that need to be packed away before listing the house. You want buyers to see the potential in the space not your “stuff”. Also, because were going to sell your home you might as well start packing right? (neatly stack the boxes in a garage or storage shed please.)

2) De-clutter your cabinets, drawers and closets. If these areas are just crammed to the brim with items potential buyers will fear that if the home doesn’t have enough storage for you it might not have enough for them.

3) Smell….Buying a home encompasses almost all the senses for a buyer. Clean up after pets inside and out whether it be a cage, litter box or backyard. If your like me and laugh at the tried and true principle of baking cookies before a showing because there is no way I am going to run home and throw some cookies in the oven before every showing there are always candles or plug ins that create the same effect.

4)Check off some of those “honey-dos” you’ve had since you moved in. Now is the perfect time to fix the sloppy paint job in the living room, replace the cracked light switch face plate, and pick those weeds around the front entry. Just like in a job interview the first impression of a home is critical to an offer. You only get one shot at a first impression make it a good one. Curb appeal can make or break a showing. If you have chipped paint or stucco now is the time to fix these areas. Its also greatly appreciated as an agent if you replace any burnt out light bulbs theres nothing worse then showing a perfect home and going to switch a light on and nothing happens then having to convince the buyers that its probably just the light bulb not that the entire house has bad electrical wiring.

5)Clean those commonly skipped areas. Dirty ceiling fans, base boards, windows or closet ceilings are a huge turn off to people. Now I know it probably goes without saying but please also clean the non commonly skipped areas. Dirty clothes on the floor or dishes in the sink remind the buyer of the “dirty” old home their coming from not the new clean home they want. Please make your bed it is very uncomfortable for the buyers to walk into a bedroom with an unmade bed it makes them feel as if they are stepping into a very personal space that they shouldn’t be in.

Krista Kniffin

Office Manager/Associate Broker

http://realtytimes.com/consumeradvice/sellersadvice1/item/27811-20140306-17-hacks-to-get-your-house-sold

Real Estate Terms to Know, Not Just for first time Home Buyers

Buying a home can sometimes feel like you need to learn another language. Whether your a first time home buyer or just need a refresher before buying another home here are a few terms to learn.

*Addendum: Additional material attached to and made part of a document. For example if the property has a septic system both parties will have to sign the septic addendum.

*Closing Cost: These are costs that are paid in addition to the purchase price (buyer) or deducted from the proceeds (seller).These items may include appraisal fee, inspection fee, commission and escrow fee ccc. The purchase agreement will outline which party pays for which expense.

*Commission:  this is the amount paid to the real estate broker for the services rendered during the sale. There is no industry set commission and it is usually stated in a percentage of the sales price. This commission is usually paid by the seller even for the buyer’s broker.

*Earnest Money: Usually a check held by the escrow company as a good faith down payment. This essentially is what tells the seller that you are a serious buyer and it is safe for them to pull their property off the market and no longer allow potential buyers to see the house. The earnest money check is usually forfeited to the seller if the buyer decides to no longer purchase the house for reasons like “ I changed my mind” or “ I found better”.

*Multiple Listing Service (MLS):  a broker membership service that pools all the listings of their members. Every member broker has the access to the same properties on this list so there is no need to go to multiple brokers in order to “see everything” on the market you will end up with the same list over and over.

*Real Estate Agent/ REALTOR: These two things are not the same. A real estate agent is an individual who holds a license to sell real estate. A REALTOR is a real estate agent who is also a member of the National Association of Realtors. You should try to only work with one agent through your entire purchase process this will save time and effort on both parties.

*Real Estate Contract: an agreement between the seller and buyer for a purchase where a portion or all of the selling price is deferred.  The purchase price is usually paid in installments over the contract period.The buyer gets possession and equitable title while the seller holds legal title

 

Krista Kniffin

Terms found in:

The Language of Real Estate: Sixth Edition

John W Reilly