It’s tough out there! Frustration for Albuquerque home buyers
(Transcript Snippet): “Tego: This kind of the, the, the underlying conversation that we’re having in the real estate market right now, right now, which is frustration for home buyers. You know, there it’s, it’s really, it’s, it’s tough out there for, for home buyers right now. There’s very limited choices. There’s, you know, people are really wanting to get, get a home. They want to lock in these low interest rates. And so there’s a lot of frustration. And so w w we’re going to keep coming back to the, this right now, because this is really the, you know, top of mind for everybody right now.
Tracy: Yeah. We talked about this a lot on last week show and what we want to say this week, again, is just hanging in there. There’s a lot of reasons to hang in there and just work towards getting that home, right? The interest rates won’t be this low, forever, and locking in that rate. Even if the price for the house seems a little higher, you’re still locking in a really good monthly payment. Right. Which isn’t going to happen if you’re a renter long-term benefits certainly outweigh the short-term wouldn’t you say?
Tego: Yeah, I, I think you look at it’s tough. It’s frustrating. You’re, you know, maybe have, have had to make multiple offers. Maybe you’ve had to make some concessions that you really weren’t comfortable with making and being able to get a house you paid more than you think you wanted to, or whatever it is. Look at the long game, look at the long game and, and don’t give up, yeah. Lock, locking in the, those, again, the low interest rate and locking in you’re more than just a low interest rate. It’s locking in your cost of housing. You’ve now locked it in. If you’re making, you know, paying a mortgage, you’ve locked it in for a really long time. Versus if you’re renting, you know, it’s going to escalate every year, every year, every year, every year. Right. And so th th this is, you know, th there’s just so much going on there. And of course, that’s not even dimension the whole quality of life issues of, of owning a home versus,
Tracy: Right, right, right. Which we’ve talked about all the quality of life. It seems
Tego: Like we’ve beat this to death, but I know there’s a lot of fear out there around the market. And, oh, my gosh, home prices are up 25% in the last two years. And are we going to have a bubble? And, you know, am I doing the right thing? And, and I, I get all that. Those are all fair questions in this current market condition, because it is so frantic, right.
Tracy & Tego Venturi
Venturi Realty Group
1119 Alameda Blvd NW
Albuquerque, NM 87114