– Real estate agents Tego and Tracy Venturi of the Venturi Group talk about the latest market data and tax assessments for the Albuquerque housing market. They also highlight two unique and special properties newly listed for sale: a 3,600 square-foot property in Corrales on 2.5 acres for $1.4 million and a 4,700 square-foot home in Cedar Crest on 6.5 acres with an indoor pool for $750,000.
– The real estate market in the Albuquerque area is experiencing a shortage of homes for sale, with closed sales down 31% from last year and new homes being listed down 35% in April. However, some special properties are available for purchase, including 34 acres for sale in Los Chávez and a charming property on Arno Street.
– Mortgage rates are low for homeowners who bought or refinanced in 2020 or early 2021, leading some to keep their current home as a rental and buy a new one. However, the number of homes listed for sale is down, and homes are selling quickly, with a median time on the market of four to five days, leading to multiple offers and bidding wars. Real estate is seen as a lifestyle choice, and buyers are willing to pay more for the home they want, even if it means an increase in monthly payments.
– Buyers see houses on the market for 30 days or more as having a stigma and are more likely to negotiate a lower price. However, home sellers still need to price their homes competitively with the market. The median home price in Albuquerque is up 2.5% from April of last year, and while prices continue to rise, it’s at a healthier pace than the double-digit growth seen in the past two and a half years.
– The article discusses the Spring Parade of Homes, which showcases newly built homes from local builders. The event takes place over the weekend and features an app to access the homes online. Tego talks about his Facebook post on housing permits and jokingly encourages builders to step up their production.
– Discusses various events happening in Corrales over the weekend, including the Parade of Homes, the Corrales Arts Crawl, and the Ex Novo beer garden. The Parade of Homes allows visitors to talk to builders and learn about loan programs for custom homes, while the Corrales Arts Crawl showcases local artists and their studios. The Ex Novo beer garden provides a fun outdoor space for families to relax and enjoy drinks and food.
– The article discusses two topics. The first topic is about a new beer brewer in Corrales, built on the site of an old tea house. The second topic is about the new tax assessments for Bernalillo County, which have been delayed but are now out. The article advises residents to check their assessed property value and protest if it has increased above 3%. However, there is a risk of the value being raised even higher if protested, so it’s important to be cautious. The article also mentions that the author’s company can do a market analysis to help value a property.
– The text covers various topics, including property valuations and protests, mortgage rates’ impact on home prices, and assistance for people relocating to Central New Mexico. It mentions the use of real estate affiliation with multiple listing services to gather data on the valuations of comparable properties in New Mexico. It also indicates that a 1% change in mortgage rates can translate to a 10% change in the home’s purchase value. Finally, the author requests suggestions for popular places and things to recommend to people relocating to the area.
– Discusses various outdoor activities and attractions in Albuquerque, including the Tent Rocks hiking trail, kayaking on the Rio Grande, and a housing market study being conducted by Housing and Urban Development. The author encourages visitors to share their favorite activities and mentions that they often assist military personnel in finding housing during permanent change of station trips.
– The Venturi Group of Real Broker in Albuquerque discusses the upcoming report on the Albuquerque market and highlights the recent PGA Championship Golf event held in the city. They also promote their website and services for those looking to buy or sell homes in the area. They encourage listeners to enjoy the various events happening in the city over the weekend.