Albuquerque Area Pending Home Sales Hit Record High In March 2017

March 2017 Pending Sales Albuquerque

No April Fools Joke here… One of the first things I do at the beginning of every month is look at the previous month’s market data and today found a very interesting statistic. The number Pending home sales in March hit an all time high for a single month (historic data is back to 2003). The next closest is July 2005. As of today April 1st (there will be a few more over the next few days) 1514 homes went into pending in March 2017. That is a 25.6% increase over the 1205 in March of 16. The most dramatic change is in the $250,000 to $350,000 price range, with a 37.5% increase in pendings over last year.

So what does this mean? It means we have a healthy real estate market which in turn helps our entire local economy. A National Association of Realtors Study shows that for every median priced home sale the Total income derived from a home sale is $53,605. This is not just the people related to the sale like the Realtor, Lender, Inspectors, Title Agent, etc… it’s the furniture stores, restaurants, hotels, and also impacts new home construction. Tego.

March 2017 Pending Sales Albuquerque

Is It Better To Buy an Albuquerque Home in The Winter?

I recently read a study done by Nerdwallet titled “Why January Is the Best Time to Buy a Home”. The study found that nationally home prices were 8.45% lower in January and February than in June, July, and August. I wanted to see how this compared to the Albuquerque Real Estate Market since our winter weather is so mild compared to many parts of the country. I have looked at this data in the past however never as thoroughly as I did this time. So… what do the numbers show? On average, Homes in the Greater Albuquerque Area that closed in January, February, and March sold for 4.1% less than homes sold in June, July and August. This suggests that a $200,000 home bought in February would be $208,000 in July. I am not a big fan of trying to time the market and base your home buying decision on this, move when the time is right for you. It’s just interesting data to be aware of. The 2017 housing market in Albuquerque is looking strong. The number of homes on the market for sale is at a historically low number and strong buyer demand are sure to push up prices going into the summer. Not going to say “Buy Now Before It’s Too Late!”, however I will say… the data suggests buying in the Winter will save you vs. buying in the Summer.

The chart below shows the Average Sale Price per Square Foot for Albuquerque. You can see the seasonal ebb and flow. Generally the avg price per square foot % changes tracks with the Home Price Index.

Video – Albuquerque Housing Market Continues Positive Trends – November 2016 Update

Earlier this month I did a quick update as well as the Q3 numbers. Here is a full Video Market Update Report including the HPI numbers for the 3rd quarter as well as a November 2016 update. Two big things I am watching… Home Price Index, and Supply vs. Demand ratio. The HPI has had a 4.49% increase through the 3rd quarter, largest move in 10 years, a healthy move. It will be interesting to see how Oct, Nov, and Dec come out. At this point it looks like we will end up at 5%+ appreciation for 2016 Y/Y. The Supply is low and if the demand trend continues, this could create some challenges. However, the fact the prices are going up will help some people who have been in the position of wanting to sell but having negative equity. As the negative equity goes away that can help bring more homes on the market.

Albuquerque Posts Highest Home Price Appreciation Since 2006

Albuquerque Home Price Index Q3 2016

We just received the latest Home Price Index numbers for Albuquerque and as expected… prices are up. For 2016 we have seen a 4.49% increase in the index through the 3rd quarter. The last time the ABQ housing market has had gains greater than this was 2006. The Albuquerque Home Price Index has averaged 3.9% since 1978.

Albuquerque Home Price Index Q3 2016

VIDEO – September 2016 ABQ Housing Market Update

The takeaway on the market… The number of homes sold continues to increase but at a moderate level. Supply vs. demand continues to be in favor of sellers in the median price ranges. Year over year price appreciation looks to be in the 3%+- range

The current trend is steady price appreciation

I was looking at the home prices in the Albuquerque area and have this great chart that shows the Average Price per sqft. I like this number vs average or median price to get a better indication of appreciation/depreciation. Some takeaways… The avg price per sqft is at the same levels as Summer of 2006 and of Fall of 2010. The appreciation from 2012 to today is about 2.5% annually and from 2004 to 2008 it was about 7% annually. Tego

Albuquerque Real Estate Talk Radio – July 11, 2015

Albuquerque Real Estate Radio

Albuquerque Real EstateTalk Radio – July 11, 2015

Eddy Aragon: AM 1600 KIVA 95.9 FM – The Real Estate Hour. We’re getting kicked off with Tego and Tracy Venturi, my two favorite people on real estate. And if you meet them, they’d be yours too. Good morning, Tego. Good morning, Tracy.
Tracy Venturi: Hey great to be here. Thanks for having us today, Eddie.
Eddy: As always love the update. Hope you had a pleasant holiday celebrating America’s Independence and two hundred and wow thirty nine years. Can you believe it?
Tego Venturi: I know. Tracy and I kind of we’re kids in the 70s and remember that bicentennial thing that was such a huge deal in ’76. I was in elementary school and that was that long ago – 39 years.
Tracy: That seems like yesterday.
Tego: Yeah, I know.
Tracy: You’re doing the whole constitution thing. That was commendable.
Eddy: Well, I think it’s important that we talk about one of the most patriotic things that we can do or the best things about our system is that people can buy real estate. You can own your own home.
Tego: That’s right.
Eddy: There’s nothing more American than that. Think about that.
Tego: Exactly and we can shoot our fireworks, “Come on,” and all my fingers are still here.
Tracy: That huge bottle rocket, I don’t know what those are called that came into our backyard.
Tego: I know we had our neighbour shooting stuff over our house. Luckily it was wide enough that I wasn’t too concerned about it.
Eddy: To put it in context, I think this is important, you guys live close to work and the place where you guys reside right there along the Rio Grande has a lot of action but that’s kind of a growing area. It’s really fantastic in your new office, I guess, coming up here in just a couple of months?
Tego: Obviously we do residential real estate. Walt’s a commercial guy but we’re generally in that cut wood corners area, 550 or 528, Alameda, Coors, that whole area. I mean, it is going crazy, they just raised a building over there so to build another strip mall because there’s not enough strip malls in there. It’s amazing.
Eddy: The traffic and the growth in the area and the place it’s really essential in Central and it’s nice to see. Also, there was a slight up taking interest rates over these holiday weekend so we’re starting to see exactly what both of you forecasted which is an increase in interest rates so now is the time to release it. We’ve been waiting for it and we’ve been talking about it for two years but literally, it’s coming up right now.
Tego: You know what’s interesting Eddy and Tracy, I was talking with the lender yesterday about the things going on and there’s a lot of programs. They keep rolling out more and more programs.
Back in 2010 it was tough, there was limited programs available for people. But now there’s more and more, there’s more options for self-employed people. If you thought you are locked out of the real estate ownership deal just because the lending standards have been so tight, you may want to look at it again.
Tracy: Absolutely, and that was like the perfect intro because one of the things we’re going to cover today is the whole rent versus buy story. We do see that interest rates have ticked up a little bit but that doesn’t mean that you can’t afford to buy a home.
Tego: Steal a bargain. Hey, by the way this is Tego Venturi and Tracy Venturi with the Venturi team of Keller Williams Realty.
If you want to get a hold of us talk about real estate, if you’re interested and get a market analysis or anything going on, if you’re looking to buy a home obviously that’s what we do – you can reach us at 933-6881 or online at welcomehomeabq.com
Tracy: So Tego, let’s tap into your vast knowledge on market data. I know you just did a half yearly update on our website for what the real estate market has done the first half of the year. What are some of the takeaways?
Tego: I did. I did a video blog that we’re going to be sending out. It’s not ready yet.
Tracy: Not online yet.
Tego: You saw me record it but it’s not produced yet. Not that it’s some big high production but I thought it would be good, we’re halfway through the year. This has been the busiest year we’ve had since 2007 so far this year. So, the market is moving in the right direction.
Tracy: When you say, “the busiest year,” what does that mean? What are you talking about?
Tego: Let me give you some of the numbers.
Tracy: Is that a house that sold? Or house prices?
Tego: Unfortunately not necessarily prices. If we look at houses sold this year, we’ve sold – when I say, “we” what I’m talking about the metro – the greater Albuquerque area.
There’s been 5,300 homes sold in the first half of this year. By comparison last year was 4,700, a year before that 4,800; 2012 – 4,100; 2011 – 3,700. If you go back to 2009 that was 3500 that was really the slowest time we substantially had versus the last 10 years.
Tracy: So 3,700 in 2010 versus 5,300 year-to-date this year?
Tego: Exactly. The other thing that’s happened the first half of this year is the supply has declined below that six months inventor. And that’s the number we always look at – month supply of inventory, number of homes available versus the number of buyers and how many month supply that we have if no other homes come on the market.
We dipped below at the beginning of this year, that six-month number. And the average for this first half of the year we’re right around five and a half months, we’re actually lower than that right now here in July.
Tracy: Great. So one of the things that kind of correlates to that is, “Where do we have really what we would see as a shortage of homes and not statistically, so to speak?”
We have several people that specialize on our team working with home buyers and they’re out every day showing houses so they really have the pulse to the market.
And when we sit down weekly and just kind of talk about the market with the team, what we’re noticing is there are certain neighbourhoods, there’s certain price plans, certain types of houses where they just can’t find them or when they come on the market they’re selling quickly.
Tego: Tracy, you deal with that more than I do. So what do you see as the hot areas and the hot type of home right now on Albuquerque?
Tracy: Sure. If you’re thinking of selling and you are in the North East anywhere near North East or whatever, you have a house that’s in nice condition around the 175,000 or below, we need that house on the market right now if you’re thinking of it.
If you’re in the far North East, you have a single-storey maybe $300,000 to $500,000 house, that’s also in-demand. We’re seeing a big shortage of that.
Tego: You said single-storey and that brings us back to this discussion we’ve been having over the last months here about the change in demographics and there does seem to be a demand for more single-storey less two-storey. Would you say that’s fair?
Tracy: It’s true and the less steps are better. I have some folks coming in to town next week that are going to be working with Anna Marie. They want not a step, they don’t want it at the front door, they don’t want to step down into a living room – nothing. And we’re seeing a lot more of that.
Tego: Tracy, let me go back to the June numbers. We kind of talked about what’s going on. And the short of it is for the first half of the year, the market is trending up. Prices have increased slightly but we’re talking about average price.
An average price could reflect the fact that more homes at a higher price point are selling than the lower priced homes and of course we know that Tracy, right?
Tracy: We do and so when you say that, what you’re really saying is the same house last year versus the same house this year could still be the exact same price or market value.
Tego: I mean there’s so many different ways to look at those numbers. I think if you go back to last year, we were tracked in somewhere around two and a half or three percent appreciation. I would say we’re probably about there right now.
Certain areas, certain homes, certain parts of town is probably better than that – certain price points the higher end. I don’t think there’s a whole lot of appreciation right now in those real expensive homes because we do still have quite a bit of supply.
We’re at the event the other day, Tracy, talking with the New Mexico Select Group which is a group of realtors that generally does higher end homes. And some of the properties that are being presented is there’s some bargains out there in that higher end.
Tracy: There really are and Gary Tonjes was there at our meeting this month.
Tego: With Albuquerque Economic Development.
Tracy: Right just this week. It was interesting because you asked him a question and it was kind of surprising.
He said when they’re talking to out-of-state companies and trying to recruit them to come to New Mexico or specifically Albuquerque in his case, they don’t tend to look at the availability of housing or the cost of housing as one of the main factors when they’re thinking about why to relocate to our area.
Tego: I found that surprising because Gary Tonjes and that whole group at AED, they do amazing work.
Eddy and I were talking about this before we came on is they worked so hard to bring businesses here. And I find it surprising that housing isn’t one of the check marks because we talk about all the check marks and like right to work. We don’t want to get into that one Eddy, do we?
Eddy: No, we don’t want to politicize anything.
Tego: We don’t want to go into the whole “right to work” thing but that group has done a great job.
Actually there’s been some great progress in the whole making New Mexico way more competitive to businesses coming here. But I found that it was interesting because in Albuquerque our housing is reasonably priced and we still have good supply unlike other markets.
Tracy: Right. He was talking about one company that we lost out to the Dallas area. Now, they’re there and their people they’re recruiting that need to move into the area because they’re relocating their world headquarters there. They cannot find houses for all the people they’re trying to relocate because of this shortage of homes.
Tego: That highlights a really good point as we get these national stories a lot of time on housing that come from the AP or whatever. They talk about the big picture, boy, real estate is so local.
And just between Dallas, in Denver, in Albuquerque – if you do the comparison, they’re totally different worlds. Both of those markets, Dallas and Denver even Phoenix in some areas – they have a shortage of homes to sell.
Tracy: Our time flies so after the break we can get back to the rental topic that we’re going to talk about, “Should I be buying or renting?” And what it costs to buy versus rent.
Also a little bit more on the market stats and then we’re going to talk a little bit about rain, I assume, because that’s on my agenda this week.
Tego: There’s a whole lot of that going on this week and it’s been great. I looked at the numbers for elephant view, it’s filling up.
Tracy: If you’d like to talk real estate with us, call our realtor on duty line 933-6881. We’d love to talk to you if you’re thinking of selling or buying.
Eddy: Elephant view – those numbers were over the top, weren’t they? It wasn’t like double, it was nearly triple when it was two years ago. You think about that.
Tracy: And they had record people there too.
Tego: We live near the Rio Grande like we talked about earlier and driving across the Alameda Bridge and you look down there go, “Holy cow that’s a lot of water flowing down that river.”
Eddy: The state overall was a huge growth in Tourism, “Hey you need to start locating some of those people from Dallas [0:12:11].
Tego: I know, I know.
Eddy: Waiting for some of those dog and pony shows.
AM 1600 KIVA 95.9 FM and 107.5 FM and worldwide in ABQ.FM back in a moment.
AM 1600 KIVA 95.9 FM Fox News ABQ – Tego and Tracy continue with the Real Estate Hour.
Tego: Eddy, we start to talk about this and now we’re going to go back to it as the June numbers. We just ended the month and it was another strong months. Lots of homes went pending, average prices are still around that $200,000 range and we’re just continuing seeing good activities.
There are some frustrations in the market though right, Tracy? Certain areas maybe Westside Rio Rancho although those markets are up. There still more supply than other parts of town, right?
Tracy: Right. Homes there aren’t selling as quickly as another parts of the city for sure. Of course it all depends on the presentation, the price, the location – all these stuff we talk about all the time.
Tego: Exactly of course. We want to talk about renting versus owning, Tracy. We’re getting a lot of calls for homes that we have listed for sale. People say, “Hey are they willing to rent it?” Because there seems to be a demand for rentals and there’s not a good place to go to find homes for rent, right?
Tracy: It is hard in our market. Some cities like Phoenix, they have a database where all the rentals go on and they compensate realtors to go show rental houses. Here we don’t have a single database where our renter can just get on and find every rental available and then find someone who will actually show it.
Here it’s a lot more difficult to actually see a rental so it’s tougher. But we’re in the businesses selling houses and so we’re going low. And if you’re having trouble finding a house to rent, why don’t you think about buying, right?
Tego: And we of course always talk about that and right now there’s always different rent versus buy calculators online.
Tracy: Totally. Just getting ready for our show today I got online and I’ve got a couple my own from some title companies and I did, “What’s this scenario if I want to rent and I’m willing to pay 1200 a month or 1300 a month? What is that equate to in a house?”
Tego: What does that equate to in a house? Let’s say rental raise or somewhere for a nice average – three bedroom, two-bed house just kind of standard home there in that 11, 12, $1300 a month rent right now.
Tracy: Unless you’re in the far North East in which case there even more.
I just look at what’s a nice house in Albuquerque like let’s say 200,000. Can I find one for 160? Yeah probably in the North East, have to search through them a little bit. Let’s say you want to get a $160,000 house – that would equate to a down payment requirement of $5600.
Tego: We’re talking about 160 right?
Tracy: Hundred and sixty thousand dollar purchase price.
Tego: And down payment is three and a half percent.
Tracy: Three and a half percent which is $5600 and that would equate to with insurance and taxes on the house so not just the house payment itself, about a thousand dollars thousand fifty a month.
Tego: Okay. And then if you figure in the tax savings on that because you can write off that interest, right? You get a little bit of bonus there.
Tracy: Right. When you do your taxes every year so you’re going to have some interest deductions for owning a house.
Tego: So why would somebody want a rent versus owned?
Tracy: Well they may have low credit or maybe they’re not planning to live in our market or in that area for more than a year or something.
Tego: And to me that seems like that’s the big one, it’s a short-term commitment. When you purchase a house it’s a little bit more long-term commitment, right?
Tracy: It is because there’s closing cost involved in selling a house. If you’re not going to be in it for very long, it doesn’t make sense to buy.
But it certainly makes sense if you’re going to be in the Albuquerque area for a couple of years or more that now is the time to buy to lock in your monthly housing expense for the next 30 years.
Tego: Thirty years.
Tracy: Let’s talk about the $200,000 house, I mean you can get a really nice house.
Tego: You can.
Tracy: Almost any part of the city whether it’s Rio Rancho Westside, North East South East Four Hills, Mesa del Sol, you can get new or resell homes. So for $200,000 house with an FHA loan which would be three and a half percent down payment that’s $7,000 down. And the monthly payment with interest I mean insurance and taxes roughly is 1300 a month.
So that’s a really nice house – you own it, you get to decorate it how you want, you get to make your kids rooms the way they want them, you can remodel, you can change walls if you want, you can do things in the backyard that are more permanent that are yours.
Tego: So I want to go through some of the advantages and disadvantages of home ownership and let’s be honest there are some disadvantages okay.
One of the things you hit on advantages-wise is it’s yours. You own it, you get to do what you want to do. You don’t have to ask a landlord if you want to paint the rooms or do some thing or get a pet or whatever.
The other thing is some privacy, it’s yours. You do have some gain privacy. And in home ownership usually is a good investment. Obviously that we had above all and that that create us some problems back 10 years ago almost now, “Wow it is almost 10 years ago.”
But then you also stabilize your housing cost so just because you bought at a peak time in the market eventually even if the pricing goes down eventually it’s going to come back and then you get the tax exempt if you can write off the interest in most cases to find your home.
Tracy: In which helps you pay a lot less in your taxes every year to the federal government.
Tego: Exactly. And you know what one of my favorite one is about home ownership is it’s forced savings in the sense that instead of spending that money and you’re paying your landlord and paying your landlord’s mortgage, you’re paying your own mortgage and you’re building equity overtime so it’s a forced savings.
Tracy: Right, which many people wouldn’t do otherwise.
Tego: Some of the disadvantages Tracy is it is a long-term commitment. I think if you’re going to only be here a year so it probably doesn’t make sense to buy.
You got to realize that you’re going to be now responsible for the maintenance and repair and that’s just part of ownership – the pride of ownership. And we’re going to talk about that with roofs, aren’t we?
Tracy: We are. We’re hoping to get to that here before we run out of time.
Tego: There’s a upfront cost; you need a down payment. But with the programs we have in the state, there are some down payment assistance programs as well as the FHA program that’s only three and a half percent.
Tracy: That’s right and you can’t get a loan for your down payment. If your parents or your siblings or somebody wants to give you the loan for that – you can’t but you can get a gift for that down payment so it’s very doable. We’re not talking about 20% down, we’re not talking about 32,000 or whatever but like in 7,000 on a $200,000 house.
Tego: I want to reiterate one thing, there are some great down payment assistance programs here in New Mexico. The New Mexico Mortgage Finance Authority has some great programs and they’ve got hero programs for teachers, fire fighters, policemen, that kind of thing. There’s military; there’s FHA; there’s the VA. VA loans are the best loans out there right now, zero down.
Tracy: And there’s [0:20:04] program as well. Just call our hotline for questions. We know the resources, we can get you connected to the right people to help you find out what program would work best for you. The number is 933-6881.
Tego: So Tracy let’s segue way into this whole maintenance thing. We’re just talking about that one of the disadvantages of home ownership is home maintenance. I think some people like myself kind of like doing maintenance.
Tracy: That’s what I was just going to say. Let’s talk real here so you like those projects around the house.
You like to have a room that needs to be painted or whatever. You like to be able to build a deck on the house which you’ve done so a lot of people do. And we get to choose to have three dogs if we want them because we own the house.
But one of the things that comes up and I kind of think of it as a good thing is every year for those people that have flat roofs and tar gravel and just most roofs.
Tego: Well any roof, you can pitch the roof.
Tracy: Everything resealed around [0:21:04], around roof penetrations, wherever there’s a vent pipe coming out of your roof – every year or two you should get up on the roof with that black tar or whatever and seal everything.
Or hire somebody, it’s like 80 bucks to have somebody to go do it for you. But I kind of like it because you always put on really old jeans that you shouldn’t have around in the closet anymore, right?
Tego: Yeah and I climb up there.
Tracy: And you climb up there.
Tego: Oh I thought you were talking about you like this in Tego up on the roof.
Tracy: Tego goes up on the roof but it’s a good reason to get some clothes out of the closet that are going to get black tar all over them and then you get to throw them away.
Tego: Obviously with all the ring we’ve had, people are discovering roof leaks that they didn’t know they had. And that just happens of course because we get these real long dry spells and certain things dry out and then when we get these heavy rains obviously it all happens at once.
Tracy: The other thing you’re noticing is all the roofers are really busy and they don’t have time to come out and handle your roof so it’s one of those things to be proactive about.
Tego: Absolutely. And that’s one of the things I’ve talked about every year is getting up on your roof if you’re comfortable doing them. I know some people are not comfortable getting up on their roof well I get that.
Just take a look at it, go around, make sure it looks good or get a roofer to come out and look at it. Because of course if you wait until it’s raining like it is now, you’re not going to be able to get a roofer out there. It’s just one of those preventative maintenance things you should be doing.
And of course in New Mexico with our semi flat or flat roofs and the tar gravel roofs, they can be a little more susceptible to it. Although it’s our gravel, as long as they’re maintained they were great obviously.
Eddy: Get a place to be a roofer.
Tego: Well at least right now.
Eddy: And April.
Tego: We can’t get them out at the moment. We got a few go-to people that do us favours but it’s a little bit tough right now to get a roofer out.
Eddy: Don’t forget always get a roof inspection before you even decide you’re going to go. That’s part of the inspection, is it not Tracy?
Tracy: It is. When you’re buying a home, the full-home inspector does look at the roof and if they’ve see things they might say, “Hey let’s get a licensed roofer to inspect it further.”
Tego: Again going back to the whole home ownership, part of home ownership is preventative maintenance. And to certain extent it give you that pride of ownership, you’re taking care of something – it makes you feel good. Eddy you know, right?
Eddie: The best way to love something is spend time with them. Not pay somebody else to do it but learn about it.
Tego: For sure. Well thanks again for having us, Eddy.
Eddie: As always.
Tego: This has been Albaquerque Real Estate talk, if you want to catch us we are at 933-6881. That’s the Venturi Team Realtors with Keller Williams Realty.
Eddy: Back again with these guys again next week. Thank you both and we’ll see you next week here on the Real Estate Hour here on AM 1600 KIVA 95.9 FM and 107.5 FM.

Albuquerque Real Estate Radio Replay – May 9 2015

abq.fm

On this weeks show. April 2015 housing market update, first time home buyer question, the in’s and out’s of surveys, and more.

 
Albuquerque Real Estate Talk Radio – May 9, 2015

Tego Venturi: Welcome to Small Business Saturdays and Albuquerque Real Estate Talk here on KIVA Radio 95.9 FM/AM 1600. I love our new bumper music. That’s pretty sweet there. Our producer and Henry Diaz also the afternoon host here with the Rock of Talk. I kind of like that new bumper music.
Henry Diaz: I like it.
Tego: Help for Real Estate.
Henry: Real estate. And that’s what we do every Saturday here at Fox News Radio 95.9 FM/AM 1600 KIVA.
Tego: Fox News Radio. I got to get used to that. That’s great. You got a great, Eddy put together a great line up here now. Anyway, this is Tego Venturi with the Venturi Team Keller Williams Realty. I’m joined by Tracy Venturi, like always, talking real estate here in the Albuquerque area and what’s going on in our market. We just finished April. So, Tracy what are we’ve got on the list today of things we’re going to hit on?
Tracy Venturi: Well, good morning everybody.
Henry: Good morning.
Tracy: Yeah, hi. We were in San Diego last weekend. It was awesome meeting with other top realtors from actually international. Lot of heavy hitters and a lot of good information on what people are experiencing in their markets and how busy they are and that type of tying. And we’re also going to talk about Kevin O’Leary Shark Tank. Mister Wonderful.
Henry: Hey, Mister Wonderful.
Tracy: Yeah. He is there.
Henry: You guys got to meet him.
Tracy: We did.
Tego: Was he a speaker?
Tracy: He was.
Tego: He was a speaker and then we kind of, you do those and got a quick meet and greet kind of things. So, but that was cool. We had a two second of fame there or something like that.
Henry: There you go.
Tracy: And then we’re going to talk a little bit about surveys. Kind of nuts and bolts and maybe Tego will give us his famous market update.
Henry: Oh, yeah. We have to have that. We missed it last week. We got to get the latest and the greatest.
Tracy: Totally.
Tego: Now, we are, April is finished. So we got the latest and greatest numbers for April. And there are some pretty startling numbers coming out of the April statistics.
Okay, I’m a really kind of a real estate numbers deep guy. And something happened in April that we have not seen in a long time. And that was the number of homes that went pending in the month of April. It was up 41% versus the previous the month, the previous year same month.
Henry: Wow, that’s significant. That’s a chunk.
Tracy: It is. And listeners, pending means that it got unaccepted contract. A house that went pending sales. So, yeah, a lot of houses going under contract.
Tego: And the other thing, we talked about this last month, is that market supply has continued to decline slightly and demand is up. So, of course, you know…
Henry: Prices is going to adjust to that.
Tracy: Starting to see it.ee
Tego: It sure looks that way. And you know I think prices are definitely on the rise. You can never tell obviously when you’re in the middle of it. You know, we won’t know until later where we end up. But definitely it feels like prices are on the rise.
Tracy: And one of the things that kind of comes along with that, what we have seen is there are a few appraisal issues coming up where houses aren’t appraising because the market starting to move up a little bit. But the comparable sales aren’t there for an appraiser to say, “Yes this is the right price for that house.”
Tego: I want you to explain that Tracy how does the appraiser do that? Because they are just trying to justify that the purchase price to the bank to make the loan, correct?
Tracy: Right. And one of the things that a lot of people don’t realize is the appraiser isn’t shooting in the dark. They are given a copy of the contract. They know how much the house is selling for any concessions, any help the buyer might be getting from the seller. And all they are doing is justifying the price for the bank and say, “Yes this house is worth that much and it’s a good loan for you to make.” So it’s not shooting and fish in the barrel. It’s good.
But they have to find usually five houses that have sold within about 90-days within about a mile of the home that’s under contract that are similar size, similar features.
Henry: For comparison.
Tracy: Yeah. And so if there really isn’t any, the market 90-days ago is a little bit different than it is right now.
Henry: Really.
Tracy: So we are having a few low appraisals. We’re seeing them across our industry.
Tego: Yeah, and that’s challenging because the buyer who’s making the purchase, they feel the value is there based on other home they’ve seen. Unfortunately, the appraisers are required to use only homes that have sold to justify that price. And so there’s always going to be this lag between what the sales prices are and what the appraised price is.
Henry: And then you always have a seller who always puts the extra value on their home and their property just because it’s there as well so you had to deal with that.
Tego: Well, there is that. Not everybody’s that way.
Tracy: No, I’m dealing with that right now. And it’s a $150,000 house. It has a beautiful newer pro-panel roof which is one of those metal roofs they upgraded and they put AC in. They have rolled outs in their kitchen drawers and they are going wait the appraiser should be looking at these things. And yeah, it’s nice because most competing homes are refrigerated or they are cooling and things. But it’s still tough.
Tego: So, Tracy we had a question come up with this week and I’m going to hit you with this one was first time home buyer. We talked to a guy the other day where he is the “millennial”, you know about those Henry, right?
Henry: I know a couple of them.
Tego: Yeah. So the millennial which is the kind of under 30 crowd. Is that right? Is that the group or…
Henry: Yeah it’s like under 35. That’s the oldest millennial.
Tego: Yeah. This guy has never bought a house before and he is wanting to know, “What do I do? Where do I start? How do I decide? How do I start the process to start thinking about buying a home?”
Tracy: Well, it’s actually a much broader question because he was going, “How do I know what my credit and how do I establish credit and how do I know if I should be buying a house,” and it was like, yeah, all those questions if you haven’t done this, you don’t know, right?
Henry: Wow, yeah.
Tracy: Yeah.
Henry: That’s funny.
Tracy: So, really that’s what we do best. We know how to guide people. So what we suggest is let’s get together. Sit down. Go through how we work to buy a home? What are the different steps so the things like I don’t really know the process. And we can go through it in our office and just kind of go through these steps. And then, also we bring a lender in. They might have a great lender that they are already look with.
Tego: I’ll take this one, Tracy. Go, okay.
Henry: I got to clear my throat.
Tego: This spring has been rough, I know. Everybody’s having allergies this year. So, we have a checklist on the process that we go through or we sit down, go through and then we bring that lender. And then the lender is really a partner in the whole thing. I mean, obviously they can’t go and show houses and we can’t make a loan. And so it’s a partnership where we work together and get them in the right loan that works for them.
Henry: So you do like an orientation essentially.
Tego: Basically, a consultation, right, exactly in the course. You know the fun part is going out looking at homes, right? You know, getting on websites and looking at homes, that’s all fun and games. But there is a lot of business that has to be done to make it all work.
Tracy: Totally. Yeah. But we love it. I mean, what joy to help somebody get in their first home.
Henry: Oh, yeah. I bet.
Tracy: And a lot of people think first time home buyers are all the $150,000 to $250,000 prices. But I’ve helped people, all ages and all incomes.
Henry: All brackets in income.
Tego: I remember that couple you helped a couple of years ago, Tracy, where they were probably in their mid-fifties. They’ve been married for quite a long time and they’d never owned a house.
Tracy: Oh my gosh. I cried that.
Tego: Well, they cried, I remember.
Tracy: And they were actually older than that. They were late 60’s, early 70’s.
Tego: Oh, okay. Got it. No, mid-50’s is pretty young, right? That’s real young.
Tracy: Yeah, that’s young. Save me for that. So speaking my language. So, yeah, so we were in the house and he turned around and he had tears streaming down his face and he looked at her and he said, “Honey, we found our house.” And they had the most beautiful hug and kiss. And I was sitting there with tears streaming down my face but it was awesome.
Henry: Those moments, I mean, that’s the American dream. Right there.
Tracy: Totally. What a pleasure to work with people and experience that. I had a woman who moved from Manhattan, too. She was probably 60’s. Had never owned a home and she moved here and got a place in Corrales on the side of the hill, a very affordable home in Corrales actually and had that amazing view of the valley and the mountain. And she did the same thing. She never even thought about owning because she lived in Manhattan where yoo can get a 100 square foot for tons of money.
Henry: Totally different market.
Tracy: Yeah. So anyway. We hold hands, we got people through it and we loved it.
Henry: Excellent.
Tracy: It’s part of the joy of what we get to do.
Tego: Yeah. So we hit on this earlier. Let’s go back to here. We just had an event here in Southern California, San Diego. Very nice. Of course, when you go to those event you don’t really get to see the city. You’re in a convention center, in this case it was a hotel. And that was networking with top real estate agents around the country. And our keynote speaker this year was Kevin O’Leary from Short Tank thing.
Tracy: Mr. Wonderful.
Tego: Mr. Wonderful.
Tracy: You’re dead to me.
Tego: You’re dead to me. Yeah, he’s your favorite shark?
Henry: Yes. He’s just a sharp guy. He sets the standard, I think. But he’s not as scary in real life, huh?
Tego: No, hes’ not. He’s very, Tracy was like, “Wow. He’s very like mellow.”
Tracy: He was really gentle and soft-spoken on stage. And when we met with him, he’s just a really warm, amazing person and his wisdom is just amazing.
Henry: Of course.
Tego: He’s very strong in his sense that business is war. Business is war.
Henry: It is.
Tego: And the object is to win.
Tracy: If you don’t, you’re out of business.
Tego: And if you don’t, you’re out of business because there’s somebody else always trying to beat you. And really some good advice and I’ve got a few things here. What we can share at the next segment is he brought up what are the three things that every person who get funded on Shark Tank do?
Tracy: Have in common.
Henry: Hey, insight. I like that.
Tego: Yeah. I’ll show that here after the break. We met Barbra Corcoran last year at the same event.
Henry: I’ve seen you guys on TV for the advertisements.
Tego: We were able to connect with her. Go ahead, Tracy.
Tracy: Actually, Barbara sent a video message to all of us this past weekend and it was awesome.
Henry: Did she? Yeah. She was a realtor.
Tracy: She really knows it. Yeah, she knows it. And she has great real estate advice.
Tego: If you get on YouTube and just search her and just any of her talks and interviews that she does are just amazing. And then we were so lucky to make that connection. And now she endorses us here in Albuquerque as her choice as a real estate team in Albuquerque.
Henry: And you guys are well-deserved, you know that. I mean, one of the top real estate teams here in Albuquerque in the Metro area. So, of course that’ why you guys have Real Estate Talk every Saturday here at the Rock of Talk Fox News Business.
Tego: And if you want to get a hold of us.
Henry: There we are.
Tego: Okay. Our team, our realtor, our duty line is 933-6881. If you listen to ABQ.FM you would be hearing that commercial all the time talking about our Home of the Week in that same number 933-6881. And we’re going to take a break here.
We’ll be back we’re going to talk about Kevin O’Leary’s top three things that get Sharks, people funded on Shark Tank And then we’re going to talk about surveys and some of the issues here. So take a break, we’ll be back shortly.
Welcome back to Small Business Saturday Market Makers and Risk Takers in Albuquerque Real Estate Talk on ABQ.FM Fox News Radio. That’s right. I got to get used to the not calling it Rock of Talk. That’s your show right, Henry Diaz?
Henry: That’s right. Every afternoon.
Tego: Yeah, you guys do the afternoon show. This is Tego Venturi with the Venturi Team Keller Williams Realty and I’m joined by Tracy Venturi. And Tracy, if somebody wants to get a hold of us, reach out to us, couple of different ways, right?
Tracy: Yeah, the best way if you’re really ready to talk is give us a call. 933-6881. Sometimes Tego and I answer that phone and sometimes it’s our realtor on duty because we all take turns but we would love to talk to you.
Henry: They are there 24/7 to answer the call of help.
Tracy: Almost. It feels like it.
Tego: Some days it feels like that. We do have a team structure and network flow because we can all serve our client, take care of our clients and still have a life. Because sometimes in this business there’s people – when you’re doing everything from the paperwork to the marketing to the appointments.
Tracy: Inspection.
Tego: To radio shows, to inspections.
Tracy: Which is where I’m going next.
Henry: And the Mr. Wonderful.
Tego: And meeting Mr. Wonderful. So yeah. So I kind of tease that here before the break. We were talking about what does Mr. Wonderful from Shark Tank and he had a statistic on what is that gets people funded when they come into Shark Tank. Some guy went through.
Tracy: Yeah, somebody went through and did statistics on all of the shows and everybody that’s been in front of them and what did they have in common that these people are going to be chosen and funded by one of the Sharks. And so he put a slide up and it was three things.
Henry: So listen up folks. This is an inside baseball right here.
Tracy: What do you think it is?
Tego: So here it is. The number one thing is they must be able to articulate the opportunity in 90 seconds or less. So it’s the old elevator pitch.
Henry: Elevator pitch, yeah.
Tego: Yup. It’s you know, you got it, you got to give your message, got to give your value in that 90 seconds.
The second thing was successfully convincing the investors that they with the right team to execute the business plan. So they have to convince that everybody there in the Shark Tank that they are the right person. It can be the great idea. They can articulate it well. But if they’re not the right person they’re not going to get the funding.
Tracy: So, it’s kind of a personality thing, right? If they like you and they believe in you and they feel like you have the right passion for the business.
Tego: Right. Well, it’s just like, we’ve seen Barbra do that where she didn’t particularly care for the business but she liked the person. And she would invest in any way.
And then the last thing was you got to know your numbers. You got to know your data. You got to know what’s going on. You got to know what your competitors are going because if you come in there and fumble with your numbers you know what Kevin O’Leary is going to say, right? He’s going to say, “You’re dead to me.”
Tracy: That’s right.
Tego: Anyway, that was the interesting.
Tracy: You know what’s funny? We never heard him say, “You’re dead to me.” But everyone at the convention was saying it.
Tego: Yeah. I guess that was just the Shark Tank thing. So, anyway, we love that show and we love the new show that they’re doing now where they’re actually…
Tracy: After.
Tego: After they are going out, it’s kind of like the thing that The Profit on CMBC that show where they’re going out and help in struggling businesses.
Tracy: It’s like the after Shark Tank, what happens to them.
Henry: Six months later, that kind of deal.
Tracy: That’s fun. So Tego I know you’re always up on market stats. And you gave us a quick snap shot at the top of the hour on what the market’s been doing. But what else is interesting in real estate this month?
Tego: Well, I recorded the other day, just a market update video. I put it on our website at welcomehomeabq.com. Also on our YouTube page and Facebook page and just about every other page that I have. And it was a market update I went through it. If you want to catch it you can do that. However I’ll give you a couple different things. As I said earlier the really big highlight number for April is the number of homes that went under contracted in April. That’s a huge jump.
Tracy: Which means that a lot of them are closing in May. And that the home inspectors, the appraisers, all those people that help out in the process, they are all busy.
Tego: Everybody is busy. So what we’re finding is generally we’ll see a 30-day closing time. But you can probably expect that to be pushed out a little bit because there are so many people that are involved in that whole transaction once it gets under contract. From the home inspector, the surveyor, like Tracy said, the appraiser, the pest and termite person, the title people – they are busy.
And then the loan side, the underwriters who actually take all of that crazy documentation that you have to provide and go through it and see it their back log because that takes a long time. So we’re seeing that 30-day close may not always be realistic if there’s a lot of stuff to do because everybody’s busy.
Tracy: Or you do your paperwork quickly and get everything your lender asks you like the day they ask for it.
Tego: I always liked that. And I’m sure when you talked to the guy from Loan Star.
Henry: Oh, yeah.
Tego: A lender told me this once, and said, “If I asked you for something and I don’t get it, there is nothing happening on your file.”
Henry: That’s right.
Tego: So you better, if they ask you for something, keep it coming because it’s going to just delay the process. So that was the big thing. And the other thing is we had a 10% in the number of sold homes in April versus last year and overall for the year…
Tracy: Sold as in closed.
Henry: They closed in April.
Tego: Close.
Tracy: A lot of people moving.
Tego: Yeah.
Tracy: Think about those moving trucks all over.
Henry: That’s true.
Tego: Here I just found the other number here. Through April of this year we are 9% ahead of last year same time, the number of homes sold in the Metro Albuquerque area.
And just to give you an idea of those numbers; that was 3,140 this year versus 2,882 of last year so we have had an increase. Definitely enough to – average price, medium price, not a whole lot of movement. Like I said, it’s always difficult to gauge that when you’re in the middle of it. But I think they’re definitely is in price appreciation going on right now.
Tracy: What we know is it’s very spotty. Some neighborhoods were seeing prices go up and others were not. But the median and average don’t tell us too much because that doesn’t say what a house same house last year would have sold for versus this year same house.
Tego: I’ve got an interesting statistic. This comes up sometime. It’s like, “Okay. From the peak of the market, where are we? Or how much did we lose? Or where are we at from the peak of the market?”
And if you look at from the peak of our market which was sometime in the middle of 2007, we had a pretty substantial drop, maybe 30%. And now, we’re about 15% below those levels of 2007. So if you bought then and you’re waiting for the market to come back, you probably have a few more years.
Henry: Yes. That’s actually good news on the economy side, too. Because we don’t necessarily want to get to the levels of the financial markets that was kind of engrossing what happened during that period.
Tego: Right. Well, and Tracy, let’s tell the story about the people we talked to that are like from Frisco, Texas and Denver, Colorado and the things that are going on those markets and the real estate world right now.
Tracy: Yeah, so, we’re seeing real steady, slow recovery still or growth. They’re up the charts
Tego: Let’s call it steady, let’s not call it slow. No, it’s steady.
Tracy: They’re kind off the charts again where they put a house on the market and it’s getting 20 offers the first day, Denver and Frisco, some areas at Miami.
Henry: Frisco’s outside Dallas.
Tracy: Dallas.
Tego: Basically Dallas.
Tracy: Yeah, sorry, just happens to be that’s where the realtors are from. But you know it’s interesting and people go all. That’s great, right? And I’m like, “Oh, no.” Think if you’re as a buyer and you want to get a house and you have to compete with 19 other people for every house that comes on the market that meets your needs, then it does when people start offering higher and not contingent on appraisal. And you know, it’s a bummer. It’s nice when you have a healthy market.
Henry: So, it’s definitely trend in seller’s market now.
Tego: In those areas for sure. There are markets, I would say yes at certain parts of towns, certain prices we are in the seller’s market. It’s very limited though. Neighborhood to neighborhood, price point to price point. You know, higher end is still kind of slow. We looked at the numbers earlier. Over a million where we had nine sell this year versus six last year.
Tracy: Year to date.
Tego: Year of the day. So I mean, what is that? That’s a 30% job. But yeah, it’s only three more houses.
Henry: Right.
Tracy: But that’s great.
Henry: Right. In context, but yeah.
Tego: But it is good. You know, we wanted to hit on just in the last section here, surveys. And we had a training session in our office the other day, Tracy, were we talked about surveys. Kind of interesting, I think people get this in their transactions and that’s like okay, it’s a piece of paper with drawings of my house and a bunch of lions and stuff and what does it all mean. What should people be looking for?
Tracy: Well you know a survey is just part of the process of the sale and making sure you’re buying the right piece of land and that there’s not encroachments so that the property lines are really where the fences are, right?
Henry: Okay. Literally.
Tracy: Literally.
Henry: It’s on the paper.
Tracy: Yeah. So they are just verifying that the lines are really where the fences might be and what you think. And they are looking for encroachments like building inside of an easements.
Tego: Yeah, I was going to say, will you explain an encroachment?
Tracy: Yes, let’s say, there’s utility easements on almost all of our land, right? So that they can just dig and put wires in and then if they have a problem…
Henry: Was that like three feet, something like that?
Tracy: It’s usually about 10-15.
Tego: Yeah, it depends. 7, 10, 15. It depends on the property.
Henry: It depends on where it’s at.
Tracy: And sometimes it’s at the front of the property. Sometimes it’s at the back. Sometimes it’s on the side, usually not right across the property.
Tego: Sometimes it’s on all four sides.
Tracy: Yeah, hopeful not. But it basically says don’t build anything permanent there because if the utility companies that have easements there need to access under the dirt.
Henry: They can do that.
Tracy: Yeah. And they’re not going to put it back all pretty. If you have a beautiful shed there or if you have some beautiful plantings there, they’re going to just kind of dig it up.
Henry: Survey is important.
Tego: Yeah it is. And you can have an encroachment into an easement like a utility easement but you can also have an encroachment into the neighborhood’s property which is a different issue as well. And so sometimes you’ll have a driveway that might have been overtime meander off the line into somebody else’s property. It does happen.
Henry: It happens, yeah.
Tracy: It does. But there’s ways to resolve everything and we’ve got great people that work with us to do that.
Tego: Tracy, do you have home of the week that you wanted to highlight or we’re going to record that here in the minute. It’s going to run next week, right? So, I’m putting you on the spot.
Tracy: Yeah. So we’ve got a couple of great new listings. We have one coming in North Albuquerque Acres actually that’s just gorgeous on San Diego. And so we’ll probably be talking about that next week. I still have that awesome one in Bosky Farms, the horse property.
Henry: Oh, yeah.
Tracy: You know any horse trainers or anybody that needs some beautiful grass to grace your horses or your cows in the barn? Everything, it’s gorgeous.
Tego: Yeah, that’s great. It’s time to wrap up. This has been Albuquerque Real Estate Talk with Tego and Tracy Venturi and the Venturi Team.
If you want to reach us, you can call our realtor on duty line at 933-6881. Get some help, right? I love that bumper music. And you can visit our website at welcomehomeabq.com.
Tracy: Have a great Mother’s Day.

Housing Market Update for April 2015 – Video

Housing Market Update

The big highlight for this month is a 41% increase in the number of homes that went Pending (received a contract) vs April 2014. To me this shows that the demand for real estate market is healthy in the Albuquerque area and should lead toward some strong appreciation this year. The strongest demand is in the average home prices (around $200,000). Homes that are updated, look good, show well, and are priced “In the market” are selling quickly in the northeast heights in particular.

The number of homes sold so far this year (through April) is 9.1% ahead of last and the number of pending sales is up substantially, 23% more year to date than 2013. The other trend that I am watching is the Supply vs. Demand spread. We are currently at the lowest since 2007 and it appears that this trend will continue.

For buyers… prices are going up. Waiting another year will most likely cost you more not just in home price but also interest rate. For sellers… demand is strong in the median price range and demand is still a little soft in the higher prices. If you are thinking of “moving up” from your current home, the timing of doing that this summer looks perfect.

Tego

Albuquerque Real Estate Talk April 4, 2015

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Welcome to Small Business Saturdays and market
makers and

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risk-takers on kiva radio

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the rock of talk on 95 nine FM a.m. 1600
in this is

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tego venturi with the venturi team at
Keller Williams Realty

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and I’m joined by Tracy venturi like
always talkin

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residential real estate here in the
Albuquerque

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area on the production panel back there
behind the glass is Aaron Henry DS

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thanks for posting with us to share your
afternoon show to buy thanks man

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pleasure to be here venture is yell good

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Easter weekend we’re here in yeah
usually a little busy with

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well right presidential we are you know
you know a lot of people are of over

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holiday weekends

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which gives them time to look at houses
so we actually get really busy over

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these weekends and we love it

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we’re ready gives we’re hoping the
weather

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little little windy I must be spring in
New Mexico little breezy

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allergies are definitely senior yeah its

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at that time you’re so I you know we’ve
got a good lineup today we’re going to

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talk about some in the market statistics
and there’s a really dramatic things

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happening in our market now 10

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I want to bring those up regarding on
supply versus demand

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and then work with God trees you got a
list that we saw a news story and it was

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pretty interesting kind and what’s
trending in real estate right now and

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we’re gonna go through that

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absolutely no we as Realtors rack we get
a lot of information for that from the

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National Association for realtors and we
just were looking this morning at what’s

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trending now

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in real estate and it was like five
topics it will just hit on quickly

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better really training for us all relate
to and a

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this again is to go venturi with the
venturi team Keller Williams Realty if

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you wanna talk

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real estate you can call our team line
our realtor on duty line

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thats 505 of course and 9

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33 sexy 81 in our website is welcome
home

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a BBQ

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dot com so you to get these markets test
received pretty pretty interesting stuff

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you know we went over this in our team
meeting yesterday

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and it there’s some really the

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you know absolutely I love to

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to know what the market is doing and
what we know is there’s really

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to different markets in Albuquerque rate
we’ve got there more affordable home

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market and then are certified luxury
market neared

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just very distinctly different yet they
are in

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the thing that’s this happened is we had

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we had a really strong March we had a
lot of home selling marching 100 more

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homes sold

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this March versus last year yes you know
it’s like

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6 I had the number you’re fires fires
were out in March taking it and she know

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interest rates

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yeah were expected to start rising and
we got news that the

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worst staying steady for now enjoy a lot
of people jumped in

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India likely will stay steady of course
the jobs report coming out yesterday

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Friday lackluster numbers again so the
Fed

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and the central bankers are definitely
gonna be considering with more patients

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went to raise those rates on all things
in the coming sooner than June 18

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we would be looking towards yeah you
know it in everybody keeps rates gonna

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go

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Rays gonna go up in a corset did bump up
your month or so ago

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and day just came right back down a tree
see anyway

0:03:31.040,0:03:34.810
they did they went up significantly over
half a point which in near

0:03:34.810,0:03:39.510
monthly mortgage is significant and you
know we appreciate you keeping us up to

0:03:39.510,0:03:40.359
date on

0:03:40.359,0:03:43.840
you know the nation news because we all
need to know because

0:03:43.840,0:03:49.220
things affect yes its it’s great because
when the jobs report comes out how does

0:03:49.220,0:03:51.829
that affect interest rates for home
buyers in

0:03:51.829,0:03:56.310
years Albuquerque in New Mexico well as
dozen it’s interesting you know we

0:03:56.310,0:03:57.000
always say

0:03:57.000,0:04:00.979
you know real estate is local your that
the market is

0:04:00.979,0:04:04.409
very much that but somebody’s national
things affect

0:04:04.409,0:04:07.449
like the interest rate what the Fed is
due in court you guys

0:04:07.449,0:04:11.680
you Aaron in any you’re gone in the
afternoon you guys are both kinda

0:04:11.680,0:04:15.250
a economist d types

0:04:15.250,0:04:18.280
I’m a nerd I read the journal yeah Wall
Street Journal

0:04:18.280,0:04:20.030
on anything yeah yen

0:04:20.030,0:04:23.130
entered into steep so anyway March
really strong

0:04:23.130,0:04:26.670
I just found the number here we had 930
sales

0:04:26.670,0:04:29.520
in this there there’s prolly gonna be a
few more cuz there’s always a couple

0:04:29.520,0:04:30.110
akers

0:04:30.110,0:04:33.790
don’t get picked up your were only a few
days into the

0:04:33.790,0:04:37.330
a.m. April and verses

0:04:37.330,0:04:42.130
9:20 so it’s like a 12 percent gain in
the number of homes sold in March

0:04:42.130,0:04:47.130
year-over-year thought pretty Priya I’m
pretty amazing Indians

0:04:47.130,0:04:50.830
the bigger number the number get this
the number of homes

0:04:50.830,0:04:54.440
when under contract in March was

0:04:54.440,0:04:57.900
1250 verses

0:04:57.900,0:05:02.820
920 last year at a 35 percent increase

0:05:02.820,0:05:07.060
mom number of homes that actually got a
contract went under contract no question

0:05:07.060,0:05:07.880
closed yet

0:05:07.880,0:05:10.940
there’s still a net said in Seoul

0:05:10.940,0:05:14.210
its it’s pretty dynamic in in what that

0:05:14.210,0:05:19.930
clause is actually kind of a supply
issue in certain price ranges

0:05:19.930,0:05:23.320
right it’s either exactly n in Seoul
will

0:05:23.320,0:05:26.470
it’s sort of time if you thinking about
selling your house

0:05:26.470,0:05:31.490
callers now there’s buyers waiting we
only have less than a three-man

0:05:31.490,0:05:35.470
inventory homes on the market in net
more affordable price range

0:05:35.470,0:05:39.080
the third first-time homebuyer under a
hundred and fifty thousand there’s

0:05:39.080,0:05:42.770
there’s not a lot to supply rendered 200
G

0:05:42.770,0:05:45.850
Virginia yeah and you know Tracy Letts

0:05:45.850,0:05:49.130
hit on that you start to say this kinda
to markets explain which

0:05:49.130,0:05:55.250
you mean by that well our markets like
maybe four hundred 500,000 in a bad his

0:05:55.250,0:05:59.950
and a distinctly different market then a
house that’s price to 250,000

0:05:59.950,0:06:04.380
their homes that ur in what we would
consider higher-priced her luxury

0:06:04.380,0:06:09.090
are still lagging behind their
recovering we’re not seeing

0:06:09.090,0:06:12.440
on a lot as sales I believe last year
over a million maybe

0:06:12.440,0:06:17.710
28 houses in our markets old yeah yeah
and it’s it’s getting better

0:06:17.710,0:06:21.870
it’s still it still lagging behind

0:06:21.870,0:06:25.030
kinda you know let’s say you know
entry-level or kinda

0:06:25.030,0:06:29.760
out average price/night turkeys 200,000
so basically it’s a set average price

0:06:29.760,0:06:30.459
range

0:06:30.459,0:06:33.839
for market area you know in some parts
of town we still see

0:06:33.839,0:06:36.919
a demand for like that 400,000 sorghum

0:06:36.919,0:06:40.999
executive levering home maybe it’s a
move up buyers

0:06:40.999,0:06:44.089
needed innis ranchers Northeast High

0:06:44.089,0:06:49.499
specific areas where yep los Ranchos
400,000 management

0:06:49.499,0:06:53.469
doesn’t get too much show it depends
really does your

0:06:53.469,0:06:58.169
if somebody wants to sell in there
around 400 450 maybe it’s a single-story

0:06:58.169,0:07:01.069
sorted newer 10-15 years old in there in

0:07:01.069,0:07:04.099
then far northeast high desert north

0:07:04.099,0:07:07.689
passaic hours in the heights or
something it

0:07:07.689,0:07:10.699
it’s in demand we have a shortage Fisher

0:07:10.699,0:07:14.579
yeah I’m so you the the takeaway couple
things I i

0:07:14.579,0:07:17.689
took out at this and I’ve been watching
this now for months that just you know

0:07:17.689,0:07:22.139
is interested in December when I saw
this as how supply is down in December

0:07:22.139,0:07:25.279
really in it continued now you know
further

0:07:25.279,0:07:28.439
for the last four months in it that
trend

0:07:28.439,0:07:32.189
is continuing so you know what I see
happening is

0:07:32.189,0:07:36.309
obviously eventually appreciations gonna
come along with us

0:07:36.309,0:07:40.050
prices are gonna get driven up simple
supplied traditionally this

0:07:40.050,0:07:44.189
right happens right how long has it been
since you games yeah I seen the

0:07:44.189,0:07:49.559
this price range inventory cut go down
all the way to three months I mean

0:07:49.559,0:07:53.699
trees sounding the for late reply
specially the recent market

0:07:53.699,0:07:58.139
I went back and tried to find something
I can find I can go back i mean a

0:07:58.139,0:08:02.539
you know I I went back three years and
then there is nothing in so I’m sure

0:08:02.539,0:08:06.289
it’ll probably been since 08 yeah 07

0:08:06.289,0:08:09.869
somewhere near the crisis the yah the
crisis

0:08:09.869,0:08:13.079
yesterday it actually maybe go back like
06

0:08:13.079,0:08:16.539
here in our boom time you know the other
thing we know is

0:08:16.539,0:08:19.860
and we do lag behind the rest of the
country and we

0:08:19.860,0:08:23.759
we do expect a strong summer selling
season it doesn’t mean prices are gonna

0:08:23.759,0:08:27.759
go up specifically for all of our home
sellers but it does mean that your days

0:08:27.759,0:08:29.179
on market may be better

0:08:29.179,0:08:33.439
and that there will be more buyers
perhaps looking at your house in

0:08:33.439,0:08:36.379
might sell quicker so if you’re looking
to sell right now

0:08:36.379,0:08:40.009
it’s the time to do it I would you know
what I I’d even add to that if you’re

0:08:40.009,0:08:41.159
looking to sell

0:08:41.159,0:08:44.980
and move up yeah if you’re next hundred
thousand dollar house now

0:08:44.980,0:08:48.139
to a certain extent you’re in a seller’s
market in the chem

0:08:48.139,0:08:52.370
thousand dollar price range in if you’re
by a five hundred thousand dollar house

0:08:52.370,0:08:53.699
you’re in a buyer’s market

0:08:53.699,0:08:57.779
so it’s and interest rates are still
ridiculous onslaught

0:08:57.779,0:09:02.050
hymie I know know it’s like it sound so
good

0:09:02.050,0:09:06.920
I know it sounds too good to be true
bubble right doing their jobs job right

0:09:06.920,0:09:07.439
about that

0:09:07.439,0:09:10.620
you know I mean so that you know some
other national stories is

0:09:10.620,0:09:13.769
we there some markets that are just

0:09:13.769,0:09:18.410
dying for homes for sale again Haas its
marketing are getting ten offers

0:09:18.410,0:09:21.480
right you know Denver San Francisco

0:09:21.480,0:09:24.779
you know I’ve heard some others on a
similar stature

0:09:24.779,0:09:28.079
Austin San Antonio Texas definitely yeah

0:09:28.079,0:09:31.670
so we we network with Realtors all over
the country and we’re actually going to

0:09:31.670,0:09:33.470
an event at the ended April

0:09:33.470,0:09:38.819
in San Diego where the top about 200-250
Realtors can get together and share best

0:09:38.819,0:09:40.949
known methods and ideas in just

0:09:40.949,0:09:45.449
it’s always phenomenal that we keep up
with those folks on a private facebook

0:09:45.449,0:09:46.089
group

0:09:46.089,0:09:50.559
doors and your colleagues at your
network right place it keeps us up on

0:09:50.559,0:09:54.370
the country in like I I was talking this
morning actually yesterday morning with

0:09:54.370,0:09:54.750
a

0:09:54.750,0:09:58.139
broker out in the miami area they do
huge marketing

0:09:58.139,0:10:02.689
overseas they get tons of foreign people
slipped to do like a walkthrough video

0:10:02.689,0:10:03.459
that’s very

0:10:03.459,0:10:07.500
naturally don’t class it out the because
there’s so many people buying sight

0:10:07.500,0:10:08.920
unseen internationally

0:10:08.920,0:10:13.100
right they do a real Ron walkthrough so
people know this is really what the

0:10:13.100,0:10:15.939
house looks like this isn’t those photos
where we only

0:10:15.939,0:10:19.009
pic pick and choose the ones who really
wanted to see

0:10:19.009,0:10:22.189
because they’re buying it without ever
even come into the state’s

0:10:22.189,0:10:25.990
now we don’t have that we don’t have
maybe me

0:10:25.990,0:10:28.980
day you know Santa Fe international
buyers

0:10:28.980,0:10:32.800
we don’t know Albuquerque we don’t miss
anything is heating up to you I know we

0:10:32.800,0:10:35.180
have a partner that we work with and
Santa Fe in

0:10:35.180,0:10:39.259
and their market is also heating up but
it’s just great for us to come to keep

0:10:39.259,0:10:42.699
our polls on the rest to the country and
we can you know then what’s coming our

0:10:42.699,0:10:45.819
way and I think we’re starting to see
some love what the other Realtors have

0:10:45.819,0:10:47.769
experienced over the last two years

0:10:47.769,0:10:52.180
I just wanna kinda wrap up for our young
next segment for our listeners what you

0:10:52.180,0:10:52.980
expected

0:10:52.980,0:10:57.129
talk real estate next same I’m we’ve got
this list again what’s trending and

0:10:57.129,0:10:57.480
we’re gonna

0:10:57.480,0:11:01.040
you know we cannot talk about some
trends here locally in in the market

0:11:01.040,0:11:03.389
just a national things that are that
apply to us

0:11:03.389,0:11:06.550
one thing I want to close out the
segment with is there you know we’re

0:11:06.550,0:11:10.670
real estate agents were real tours and
we have a team

0:11:10.670,0:11:14.470
the venturi team and we’re looking for
good people join our team

0:11:14.470,0:11:17.600
and so we’re hiring and so if you’re if
you’d like

0:11:17.600,0:11:21.500
to talked about that with us just you
know reach out to us on the hotline

0:11:21.500,0:11:23.610
which is our 93 360

0:11:23.610,0:11:27.449
one number you know whoever picks it up
or mortgages directed to

0:11:27.449,0:11:32.100
probably Tracy to talk about that so I
want to put that out there and yeah

0:11:32.100,0:11:35.339
and we’re we’re looking for for good
people

0:11:35.339,0:11:39.910
we can always are but good definitely
will this is the team to join if you’re

0:11:39.910,0:11:41.490
looking to get into real estate or

0:11:41.490,0:11:44.920
getting as a seller buyer as well and
what’s the website again

0:11:44.920,0:11:48.160
welcome home BBQ dot com Welcome Home

0:11:48.160,0:11:52.550
a DQ dot com dot com will be back
shortly with Small Business Saturday

0:11:52.550,0:11:55.610
and market makers and risk-takers here
on

0:11:55.610,0:12:02.610
Kiba radio

0:12:05.750,0:12:06.900
welcome back to

0:12:06.900,0:12:10.850
Small Business Saturday and market
makers and risk takers with Albuquerque

0:12:10.850,0:12:14.460
real estate talk this is to go venturi
with the venturi team

0:12:14.460,0:12:18.720
Keller Williams Realty and I’m joined by
Tracy entry like always talking about

0:12:18.720,0:12:21.050
real estate we just had a great
discussion regarding

0:12:21.050,0:12:24.630
what’s going on the market in a coarser
producer here in

0:12:24.630,0:12:28.250
and medias and he a at a great great im

0:12:28.250,0:12:33.090
inside as well so appreciate that Aaron
on Tracy you’ve got this story that came

0:12:33.090,0:12:36.130
out no one to go over cuz I thought it
was pretty interesting is like what’s

0:12:36.130,0:12:37.540
trending in real estate

0:12:37.540,0:12:41.720
absolutely so it’s interesting because a
lot of these topics there’s

0:12:41.720,0:12:46.350
123 her five bullet points that realtor
dot com just released in

0:12:46.350,0:12:49.410
they’re all topics we’ve been talking
about over the last couple weeks and

0:12:49.410,0:12:50.190
months so

0:12:50.190,0:12:53.880
you know pretty spot-on Sauron we’re
headed the curve totally

0:12:53.880,0:12:57.370
night right here in Albuquerque right
here we like to think so in

0:12:57.370,0:13:00.770
I mean this is gonna sound weird but
don’t even

0:13:00.770,0:13:05.030
we pay attention I mean Tracy and I and
in our team

0:13:05.030,0:13:09.070
we really watch the market all the time
oh yeah we live and breathe this and you

0:13:09.070,0:13:11.570
know we are very much full time Realtor
Xanders

0:13:11.570,0:13:16.290
3,000 real estate agents here in
Albuquerque market believe it or not in

0:13:16.290,0:13:20.190
really wanna be the polls and be the the
source for the information regarding

0:13:20.190,0:13:21.140
real estate so

0:13:21.140,0:13:25.710
so let me check give you that bullet
points and we can talk about whatever

0:13:25.710,0:13:26.310
one

0:13:26.310,0:13:29.630
to seems interesting so topic one was

0:13:29.630,0:13:33.240
work foreclosures keep slipping now
we’ve talked about that a couple a times

0:13:33.240,0:13:34.170
which is

0:13:34.170,0:13:38.830
great and I looked at it again for for
march in it in it’s down again and we’re

0:13:38.830,0:13:42.440
you know less and less foreclosures on
the market less and less foreclosures

0:13:42.440,0:13:46.450
selling of course researchers lots of
them yep buyers want move in ready

0:13:46.450,0:13:49.490
properties and we could talk for hours
on this island’s

0:13:49.490,0:13:53.120
come back to that they do sellers are
needed

0:13:53.120,0:13:57.360
so even in our market we just talked
about that mortgage rates held steady

0:13:57.360,0:14:00.790
again and home prices are surging

0:14:00.790,0:14:02.440
which were not seen not

0:14:02.440,0:14:05.800
yet a little bit yeah I mean your last
year old just

0:14:05.800,0:14:10.250
hit this cuz we did talk about earlier
is we had basically we tracked about a3

0:14:10.250,0:14:12.390
percent appreciation Albuquerque

0:14:12.390,0:14:15.500
which isn’t bad I mean it’s that
considering it it

0:14:15.500,0:14:20.080
yet okay I mean it you don’t feel it
obviously dated a month to month even

0:14:20.080,0:14:25.330
but home sellers this is good and what
we know is less

0:14:25.330,0:14:28.640
less people are upside down in their
home wrecked so

0:14:28.640,0:14:32.520
skin so let’s go back to buyers want
move in ready

0:14:32.520,0:14:36.020
capitis what is a move in ready property
totally so

0:14:36.020,0:14:42.020
most buyers that lets let’s go back to
our average sale prices 200,000

0:14:42.020,0:14:45.950
most buyers you can use an FHA loan
which is three and a half percent down

0:14:45.950,0:14:47.790
so that seven thousand dollars

0:14:47.790,0:14:51.110
maybe yeah down payment for the first
time

0:14:51.110,0:14:55.690
first fired by a 2000 are two hundred
thousand dollar house and then maybe

0:14:55.690,0:14:58.570
they have a little bit a closing costs
and there’s certainly no other

0:14:58.570,0:15:01.680
2000 can I just say something did its

0:15:01.680,0:15:04.750
in that three and a half percent down
earn you need to change into three

0:15:04.750,0:15:05.800
percent isn’t

0:15:05.800,0:15:09.180
even it’s not that not just first-time
homebuyers

0:15:09.180,0:15:13.650
not no no now yeah sorry I stand
corrected

0:15:13.650,0:15:17.250
yeah it’s it’s available to anybody
right primary residence

0:15:17.250,0:15:20.560
impact this your first time home buyer
there some programs to help

0:15:20.560,0:15:24.230
with that decision percent so there’s a
letdown

0:15:24.230,0:15:29.320
programs which we’ve talked about an FHA
buyers not necessarily a first time

0:15:29.320,0:15:29.840
buyer

0:15:29.840,0:15:33.240
it’s got to be a primary residence now
okay so

0:15:33.240,0:15:38.240
that’s all on but move in ready a lot of
times when we’re looking at somebody is

0:15:38.240,0:15:40.950
buying a two hundred thousand dollar
house they have just enough for their

0:15:40.950,0:15:43.610
down payment or they’re getting down
payment assistance

0:15:43.610,0:15:47.110
may be the seller’s helping them with
closing costs are they’ve got that saved

0:15:47.110,0:15:47.460
up

0:15:47.460,0:15:51.230
they don’t usually have money to go in
and remodeled house

0:15:51.230,0:15:54.640
or put a new roof under a new heating
and cooling raining

0:15:54.640,0:15:57.760
you know way can operate a couple cord

0:15:57.760,0:16:01.100
or even something like new carpet you
know it

0:16:01.100,0:16:05.450
yeah you know this year the average home
you know just average carpet may cost

0:16:05.450,0:16:07.450
three to five thousand dollars to do a
whole

0:16:07.450,0:16:08.790
house Eugene

0:16:08.790,0:16:12.110
yeah and in the painting a mural
painting is one thing obviously we can

0:16:12.110,0:16:12.680
all do

0:16:12.680,0:16:16.629
ourselves it’s not that expensive and
it’s not that excellent just messy

0:16:16.629,0:16:21.540
fortunately unfortunately some people
have painted their homes that had no

0:16:21.540,0:16:22.940
business paintings

0:16:22.940,0:16:26.089
but that the whole nother discussion you
know when you see those houses you know

0:16:26.089,0:16:26.500
it

0:16:26.500,0:16:30.000
later treaty and Nellies yeah see

0:16:30.000,0:16:33.730
this for the buyers wanting move in
ready can see a need it freshly painted

0:16:33.730,0:16:36.839
they need to curb either shampooed
already replaced

0:16:36.839,0:16:41.399
it’s bad they don’t have the ability
most to them to even go

0:16:41.399,0:16:46.329
they’re offering a kirpan allowance to
you picking you do it but most people

0:16:46.329,0:16:50.560
they need to be motivated they need to
walk in and be moved in fields

0:16:50.560,0:16:54.290
nothing and when you walk in in the
carpets old worn-out

0:16:54.290,0:16:58.470
they’re comparing it to the the seller
who updated the house who got it ready

0:16:58.470,0:16:59.170
to sell

0:16:59.170,0:17:02.970
your think about when you go so you use
car clean

0:17:02.970,0:17:06.409
technology rappers us Kennedy

0:17:06.409,0:17:11.089
detailed so when when the seller’s take
the time to detail their house they get

0:17:11.089,0:17:11.809
more money

0:17:11.809,0:17:16.610
they sell it faster and the buyers
feeling so it’s stuff like

0:17:16.610,0:17:20.470
you know getting rid the dirty carpet
putting in a newer carpet

0:17:20.470,0:17:23.709
re: even having them take that carpet or
a

0:17:23.709,0:17:27.030
what stuff with the walls I would assume
yet different things

0:17:27.030,0:17:31.400
a lot of it honestly is good old fashion
cleaning disclosure

0:17:31.400,0:17:34.640
cleaning with the extra elbow grease
exactly

0:17:34.640,0:17:38.630
and you know net that the yard the house
the Orioles

0:17:38.630,0:17:42.320
curved exactly all that stuff in

0:17:42.320,0:17:46.549
and cleaning doesn’t cost you anything
no in in in a course decline are we

0:17:46.549,0:17:48.179
always talk about the clutter and

0:17:48.179,0:17:51.520
you know buyers need to see it through

0:17:51.520,0:17:55.090
how they’re gonna live right they don’t
wanna see all your stuff now

0:17:55.090,0:17:59.350
they just wanna see the bare-bones you
know furniture just to get the basic

0:17:59.350,0:18:00.380
idea yeltsin

0:18:00.380,0:18:03.520
no a blank campus open campus yeah

0:18:03.520,0:18:06.900
so move in ready really means I can just
bring my moving boxes

0:18:06.900,0:18:11.380
income and maybe I need to wash out a
few cupboards and things but basically

0:18:11.380,0:18:11.650
an

0:18:11.650,0:18:13.990
need to paint and Anita we can walk

0:18:13.990,0:18:16.870
war unit at the Home Depot for the next
couple months

0:18:16.870,0:18:19.970
no HD TV show you for some in-house

0:18:19.970,0:18:23.590
that’s right okay you know another trend
that they’ve gone into I’m sorry

0:18:23.590,0:18:27.860
now Neemrana to wrap that up in and talk
about this guy I think it’s important is

0:18:27.860,0:18:33.020
the rents and that rents continue to
increase at a much faster rate is

0:18:33.020,0:18:36.650
rate then home prices and in renting

0:18:36.650,0:18:39.750
is definitely more expensive than by oh
yeah now

0:18:39.750,0:18:43.460
ish you know okay into yeah it

0:18:43.460,0:18:47.029
you need to you need to think about that
if now again if you’re gonna be in a

0:18:47.029,0:18:50.919
in a city for you know it righted it
probably doesn’t make sense because

0:18:50.919,0:18:51.429
you’re gonna

0:18:51.429,0:18:55.330
have your eight percent closing costs
you know going out of the home so you

0:18:55.330,0:18:55.890
wanna

0:18:55.890,0:18:59.260
you want to be careful about bad by in

0:18:59.260,0:19:02.659
you know but you still get those tax
advantages he got a player does and

0:19:02.659,0:19:06.090
into the equation as well so you know
it’s

0:19:06.090,0:19:09.710
it did to me it seems like the trend
going to continue the trend teen

0:19:09.710,0:19:13.500
is going to continue to increase to a
certain extent although

0:19:13.500,0:19:17.370
there’s a lotta building going on than
the multi-family world right now

0:19:17.370,0:19:20.600
you know we’ve talked about this before
too and I’m just gonna

0:19:20.600,0:19:24.570
and that can give topic about that it’s
your monthly payment

0:19:24.570,0:19:28.559
on owning is probably less than what
your rent might be right now because ur

0:19:28.559,0:19:30.140
interest rates and home prices

0:19:30.140,0:19:34.010
I’m not even to take into account the
tax advantage

0:19:34.010,0:19:37.500
racked just to close it with that

0:19:37.500,0:19:41.820
if you buy today you’re locking in your
monthly housing costs right

0:19:41.820,0:19:45.600
for thirty years years I’m sure that
rents aren’t gonna stay stable for

0:19:45.600,0:19:46.309
thirty years

0:19:46.309,0:19:50.240
on the next topic I wanna go to this
kind of a trending topic

0:19:50.240,0:19:53.890
is the Millennials especially they’re
going green

0:19:53.890,0:19:57.120
yes ma’am there we go so

0:19:57.120,0:20:00.580
we’re where you know they’re pushing
home builders to really be green which

0:20:00.580,0:20:02.919
we know most of our new home builders
are

0:20:02.919,0:20:05.789
on in the trash conservation

0:20:05.789,0:20:10.460
and stuff like that something we saw
happen here in let’s say oh nine

0:20:10.460,0:20:14.720
10 range when the builders in town were
i mean they were they were changing

0:20:14.720,0:20:18.759
they were struggling I mean it was time
enough selling anything in

0:20:18.759,0:20:22.879
and a few other the builders i think is
third with a local builders production

0:20:22.879,0:20:23.429
builders

0:20:23.429,0:20:27.779
they started doing the the bill green
New Mexico certification

0:20:27.779,0:20:31.619
and then they kinda paul started doing
it can what happens in the homebuilding

0:20:31.619,0:20:33.200
world is right guy does it

0:20:33.200,0:20:36.419
like it used to be everybody had a
backward coolers and then builders

0:20:36.419,0:20:39.789
started putting in air conditioning is a
standard not all the builders have your

0:20:39.789,0:20:40.440
kitchen

0:20:40.440,0:20:44.249
there the same thing with the green like
they’re all doing some certain level of

0:20:44.249,0:20:46.220
green green certification solar

0:20:46.220,0:20:50.769
water aspects on this green I guess
certification or green

0:20:50.769,0:20:54.450
communities that Millennials love
obviously if you’re gonna be paying your

0:20:54.450,0:20:57.419
utility bills you want to be able to
keep it comfortable so what about

0:20:57.419,0:20:59.190
heating and cooling those things

0:20:59.190,0:21:03.580
remaining unite even landscaping so that
use less water

0:21:03.580,0:21:09.279
one to plant grass and keep it watered
but if users keep interactions keep it

0:21:09.279,0:21:10.059
depends on yeah

0:21:10.059,0:21:13.359
artist you’re from how you say it but
p.m. yep

0:21:13.359,0:21:18.320
down south because you call it sounds
like exercisers Kate yeah I

0:21:18.320,0:21:21.879
Europe X-ers game down down in yeppers

0:21:21.879,0:21:25.470
yeah we say y’all over well scholarship
you guys

0:21:25.470,0:21:30.369
get that text things little bit but this
is real estate Oct nine yr

0:21:30.369,0:21:34.159
yeah not know how it operates truces I
know turkey

0:21:34.159,0:21:38.659
what what’s interesting about the bill
green New Mexico’s it was a group

0:21:38.659,0:21:39.580
builders

0:21:39.580,0:21:43.200
who got together and started meeting and
when they were first meeting I was going

0:21:43.200,0:21:46.479
to those meetings they’re the ones who
came up with the different levels

0:21:46.479,0:21:50.059
green certifications gold silver bronze

0:21:50.059,0:21:54.619
levels so they put together charts and
they said okay this is the minimum to be

0:21:54.619,0:21:58.210
this level and then we’re gonna add on
all these other green features to be the

0:21:58.210,0:21:59.619
next level and green

0:21:59.619,0:22:03.330
and each level obviously cost them a lot
more to build that way

0:22:03.330,0:22:06.779
it’s like anything you know the the
first things aren’t that expensive in

0:22:06.779,0:22:09.500
obviously to get more and more gets more
expensive in

0:22:09.500,0:22:14.850
am a premium Canada crossover right it’s
like it some point how green tea need to

0:22:14.850,0:22:15.230
be

0:22:15.230,0:22:19.420
you know it’s like the the extra costs
really in the long run over 30 years

0:22:19.420,0:22:23.480
probably isn’t worth it break but the
Millennials really do appreciate this

0:22:23.480,0:22:24.810
and I think this year and

0:22:24.810,0:22:28.260
in training in the future the house is
that people are buying now littered

0:22:28.260,0:22:29.050
green

0:22:29.050,0:22:32.560
are going to be the ones people
gravitate towards in the future as we

0:22:32.560,0:22:33.720
continue to see in

0:22:33.720,0:22:38.320
increases in utility expenses in course
Millennials getting older and moving

0:22:38.320,0:22:41.960
from the basement you know that’s what
they were saying last year there and yes

0:22:41.960,0:22:46.310
yes you’re shared roommate situation
this year we’re in the roommate

0:22:46.310,0:22:47.180
situation

0:22:47.180,0:22:51.000
naturally the you know the length of
time will be

0:22:51.000,0:22:54.570
going into the market in a couple years
saying you know what you wanna buy one

0:22:54.570,0:22:55.450
of these houses well

0:22:55.450,0:22:58.990
in you know we could do a whole show
just on the homeowner maloney

0:22:58.990,0:23:03.300
saying in the transition in the fact
that they are larger population

0:23:03.300,0:23:06.470
then the baby boomers I don’t know if
people know than others eighty

0:23:06.470,0:23:11.890
ending eighty million yields in this
generation and 60 to 65

0:23:11.890,0:23:15.350
billion a.m. baby boomers sonya

0:23:15.350,0:23:20.050
and most people don’t own a house no we
don’t

0:23:20.050,0:23:25.100
in this economy here yes there in the
ice is right

0:23:25.100,0:23:29.580
well thanks Aaron Henry yes for for
obviously hosting with those producing

0:23:29.580,0:23:30.190
for us

0:23:30.190,0:23:33.390
pleasure this is Ben Albuquerque real
estate talk here

0:23:33.390,0:23:37.300
on k I the a radio 95.9% FM a.m.

0:23:37.300,0:23:41.550
1600 in if you want to reach out to us
the venturi team at Keller Williams

0:23:41.550,0:23:42.430
Realty

0:23:42.430,0:23:46.560
were at 933 68 81 or welcome home

0:23:46.560,0:23:47.920
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