Albuquerque New Mexico Real Estate News & Listings Presented By Keller Williams Realty

Mortgage Rates Down Again; 30-Year Fixed At 4.42% - Freddie

Fri, 20 Aug 2010 22:44:00 GMT

The 30-year fixed-rate mortgage averaged 4.42% for the week ended Thursday, down slightly from the prior week's 4.44% average and 5.12% a year ago. The average for 15-year fixed was 3.9%, down from 3.92% the previous week and 4.56% a year earlier.

The 30 and 15-year fixed mortgage are at their lowest points since Freddie began tracking such rates, in 1971 and 1991, respectively.

Source: Greater Albuquerque Board of Realtors -19 August 2010

MBA: Interest Rates Hit Record LOW!

Wed, 18 Aug 2010 01:00:00 GMT

Mortgage applications to purchase homes rose 0.3 percent on an adjusted basis last week, virtually unchanged from the previous week, according to the Mortgage Bankers Association weekly survey.

On an unadjusted basis, purchases decreased 0.3 percent compared with the previous week and were 34.1 percent lower than they were the same week a year ago.

This trough in purchases comes despite the fact that 30-year fixed rate mortgages are at the lowest level they’ve been since the MBA began keeping track:

30-year fixed-rate mortgages decreased to 4.57 percent from 4.60 percent.
15-year fixed-rate mortgages decreased to 3.95 percent from 4.03 percent.
1-year ARMs decreased to 7 percent from 7.10 percent.

Source: Greater Albuquerque Board of Realtors -11 August 2010

Albuquerque Metro – July 2010 Market Report

Tue, 17 Aug 2010 01:00:00 GMT

Monthly Highlights

• July saw a 14.06 percent decrease in pending sales and 24.22 percent decrease in closed sales, when compared to the previous year.

• The median sale price for single-family detached home sales rose in July to $186,000, up 0.54 percent from the previous year and up 2.76 percent
from the previous month.

• Active listing inventory for single-family, detached homes is at 5,803, up 5.97 percent from the previous year.

To View the Complete July Albuquerque Metro Market Report!

Source: Greater Albuquerque Board of Realtors -06 August 2010

CNN: Rio Rancho Among Best Places to Live in U.S.

Mon, 09 Aug 2010 01:09:00 GMT

Is Rio Rancho a Great Town or What.....

WINNER

Top 100 Rank: 51

Population: 82,000

This safe, family-friendly suburb of Albuquerque is home to events like the annual Pork & Brew, a large BBQ festival and competition.

Rio Rancho has a new downtown area that is a developing hub for recreation and business. It currently houses City Hall, HP call center and the Santa Anna Star Center, a sport and concert arena.

Foreclosures have been a problem in New Mexico and Rio Rancho is not an exception. The plus side: House hunters can snap up bargains.

Source: CNN Money.com - 18 July 2010

7871 Chaco Mesa Loop NW, Albuquerque, NM 87114

Thu, 05 Aug 2010 11:09:40 GMT

Pinch me price! Don't pass up this light bright 1-story featuring 4 bedrooms, 2 full baths and a 2 car garage. The spacious Great Room boasts vaulted ceilings and an eat-in Kitchen overlooking the Family Room. Escape to your Master Suite with Master Bath and Walk-in Closet. This home is beautifully landscaped with a finished backyard and patio. And even better...this home already has refridgerated air!! Don't let this opportunity pass you by....the price is worth the wait.

Interest Rates Drop to 4.60%

Thu, 05 Aug 2010 01:00:00 GMT

Interest Rates Drop to 4.60%

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 30, 2010.

The Market Composite Index, a measure of mortgage loan application volume, increased 1.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.4 percent compared with the previous week.

Source: Greater Albuquerque Board of Realtors -03 Aug 2010

400 Copper Ave NE 303, Albuquerque, NM 87102

Mon, 02 Aug 2010 11:04:06 GMT

Condo in a Crunch...must sell this 2 BR, 2-bath choice Copper Lofts location that's part of the historic Albuquerque High redevelopment area. This ultra modern loft features oak floors through out, clerestory windows, vaulted 14 foot ceilings, French Balconies, Italian kitchen cabinents, upgraded stainless appliances and granite counters. 2 Master suites w/baths. Convenient to downtown entertainment, shopping and Rail Runner. Security gate access. Fridge, washer and dryer convey.

Unobstructed views of Rio Grande River!

Sat, 31 Jul 2010 02:00:45 GMT

99,000 Reduction ! Unobstructed views of Rio Grande River, mountains & city lights! Retreat to this private Oxbow Bluff residence designed by R. Schalk; w/travertine & cherry wood throughout.Chefs kitchen w/slab granite, stainless & river views!Luxurious Master suite, w/designer closet & spa bath.Private guest suite w/bath & access to Outdoor Portal w/built-in Kitchen/BBQ, heated gunite pool & hot tub. All new landscaping; new light fixtures; new cabinetry. Basement storage not included in Sq Ft

Albuquerque Metro – 2nd Quarter 2010 Market Report

Fri, 30 Jul 2010 01:00:00 GMT

2nd QTR 2010 Market Recap for the Greater Albuquerque Metro Area

Homes sales for single-family detached homes in the Greater Albuquerque Market Areas are up 20.55 percent from 2nd Quarter 2009; condo/townhome sales saw an increase of 48.09 percent from the same period.
11 MLS areas in the City of Albuquerque and City of Rio Rancho saw positive increases in both home sales and sales prices when compared to 2nd Quarter 2009.

To View the Complete Albuquerque Metro Market Report!

Source: Greater Albuquerque Board of Realtors - 21 July 2010

4100 Whistler Ave NW, Albuquerque, NM 87114

Wed, 28 Jul 2010 11:07:56 GMT

Don't miss the stunning city/mountain views and backyard of this beautiful Scottsdale style home. A covered patio with spacious balcony over look mature trees and a lush grass backyard. This versatile floorplan features 2 levels with 2+ living areas, formal DR, breakfast bar, and LR with cozy fireplace. The private Master Suite boasts double sinks and a garden tub. Hidden away in the lower level find a family room, 2 additional bedrooms and office.

2023 Hermosa Creek Dr SW, Albuquerque, NM 87121

Wed, 28 Jul 2010 11:07:56 GMT

Let Go Of Your Landlord - Be the lord of your own land at this 1525-SF home only an easy drive to downtown Albuquerque. Hold cookouts on the patio of this southwestern home featuring 3 bedrooms, 2 bathrooms, master suite with dual sinks, separate shower, casual formal living room, relaxing gathering room, inviting kitchen with electric range, dishwasher, covered patio, 2-car garage.

Short Sales Become More Challenging

Fri, 23 Jul 2010 23:22:00 GMT

Foreclosures are on the rise and distressed homeowners are seeking alternatives to losing their homes to foreclosure. But with millions of distressed homeowners, others are deciding to short sell their homes or just walk away from homes that have lost value. And most aren't worrying about the consquences.

Before you make this decision, keep in mind that banks are taking a harder look at everyone's financial situations. You need to make a honest effort to address your financial situation and be prepared to share your finances with the bank to justify your need for a loan modification or short sale. But for those who just want to "walk away" the consequences could be dire.

To learn more view the story below featuring Deanna Dopslaf, The Red Truck Realtor!

2341 Cortina Loop Dr SE, Rio Rancho, NM 87124

Sat, 17 Jul 2010 11:11:32 GMT

Tap into Tranquility! Come see this 3-bedroom/2.5-bath 2246-SF townhouse built by DR Horton in the gated Astante Villas of Cabezon, only a short walk to the park and neighborhood pool. Great features include a relaxing gathering room, fashionable living room, master suite with separate shower, jetted tub for resting those sore muscles, relaxing gathering room, first-floor laundry, loft w/walk-in closet, inviting kitchen with gas range, pantry, dishwasher, work island, microwave.

Albuquerque Metro – June 2010 Market Report

Wed, 14 Jul 2010 01:00:00 GMT

Monthly Highlights

•723 single-family detached homes were reported sold for June 2010, an increase of 11.40 percent from a year ago.

•The median sale price for single-family detached home sales in June climbed to $181,000, the highest monthly median sales price since Aug. 2009.

•Pending home sales for single-family detached homes in the Greater Albuquerque market areas are up 7.52 percent from the previous month.

To View the Complete June Albuquerque Metro Market Report!

Source: Greater Albuquerque Board of Realtors -12 July 2010

5528 Cibola Dr NE, Rio Rancho, NM 87144

Mon, 12 Jul 2010 11:05:48 GMT

Catch Up on News - While reading the paper at the breakfast bar in this 3-bedroom/2.5-bath 2424 Sq ft southwestern home in Enchanted Hills with an easy walk to the Elementary School. This welcoming floor plan delivers a traditional dining room, engaging great room with fireplace, casual living room, master suite with walk-in closet, separate shower, dual sinks. It is a must see today!

119 Espejo NE, Albuquerque, NM 87123

Sun, 11 Jul 2010 11:10:40 GMT

Wonderful investment opportunity with some TLC. Sold as-is. 3BR, 1.5BA, 1,132 SF conveniently located near Kirtland AFB and Central Avenue. Home includes a finished garage (11'7x22'9) not included in SF. Carport and large backyard.

Freddie: 30-year fixed-rate mortgage at Record Low

Sat, 10 Jul 2010 21:30:00 GMT

"With mortgage rates falling to historic lows, refinance activity has been strong over the past three months," said Frank Nothaft, Freddie Mac's chief economist. The Bureau of Economic Analysis reported that the effective mortgage rate of all loans outstanding was just below six percent in the first quarter of 2010, the lowest since the series began in 1977. Since the start of the second quarter, two out of three mortgage applications on average were for refinancing, according the Mortgage Bankers Association.

Household balance sheets also improved in other ways over the first three months of the year. The Federal Reserve (Fed) reported household net worth rose by almost $1.1 trillion in the first quarter of 2010. The share of credit card loans that were 30-days or more past due fell to the lowest since first quarter of 2002, according to the American Bankers Association. Finally, the aggregate household debt burdens were at a level not seen since the third quarter of 2000, based on the Fed’s debt service ratio.

Source: Greater Albuquerque Board of Realtors - 08 July 2010

13608 Crested Butte Dr NE, Albuquerque, NM 87112

Wed, 30 Jun 2010 11:07:06 GMT

Drop Dead Gorgeous is the only way to describe this exquisitely updated custom home in Pinnacle Estates. This masterpiece features 4 BRs, 3 full BAs, 3 car garage, tons of windows that invite the beautiful outdoors into the home, and a 1/4 acre lot overflowing with green foliage. Modern updates include a chef's kitchen featuring granite counters, Wolf range, sub-zero fridge, large island and breakfast nook. Master BR boasts curved walls, remodeled bath w/jetted tub and a large viewing deck.

Should I Buy a Home Now?

Tue, 29 Jun 2010 01:00:00 GMT

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

6612 Country Hills, Albuquerque, NM 87114

Sat, 19 Jun 2010 11:19:06 GMT

Why gamble when you can have a tried and true sure thing? No need to wait for the banks...this home is priced to sell without the hassle. A 4BR, 2 1/2 BA, 2 car garage in Ventana Ranch. Offering 2 living areas, spacious kitchen, dining room, and loft. Master bedroom features a walk out deck over the patio below. Upgrades throughout include large tile, and spindle railings. Landscaped front and back, extended patio and rose bushes. Don't miss this great value.