PLEASE list your home for sale Real Estate Inventory Shortage in Albuquerque

Tracy:

So many things we want to talk about today, I’m not sure we’re going to get to them all. So let’s start with the hottest one,

Tego:

Which is please list your home for sale. How about that? We’re not too proud to beg, not too proud to beg here. It is. I mean, I’m seeing it and we’re all hearing it from other realtors in the Albuquerque area. How many buyers would you say Tracy, do we have just in our team that are waiting for the right home to come on the market, they’re approved, they’re ready to go

Tracy:

Probably over 40. You know, when I think about everybody and how many they’ve been talking about and yeah, we have a lot, especially looking under 250,000, a lot of first time buyers that are so smart to take advantage of the interest rates right now and lock in their monthly housing costs for 30 years and pay their own mortgage and wealth build through home ownership. So especially that. So if you’re thinking of getting a bigger house and moving up your house is in demand right now and there are more homes for sale in the higher prices, If you’re gonna upsize what you’re doing right now,

Tego:

Let me, let me put some stats on that. So right now I know, you know, I got toTalk about, well, it’s, it’s really extraordinary, i hate words Like it’s a crisis and stuff like that. I will say, though, right now we have just under 900 homes are right at 900 homes on the market and the Albuquerque area right now. And that is extraordinary. We really in a healthy or balanced market, we could have somewhere, as many as three, four, 5,000 homes on the market, by the way, somebody quoted my stat on that. And, but that’s true, you know, in the, in the paper the other day,but it is, I mean, really we have so few homes on the market and there’s so many buyers out there looking and, and I think we have this kind of a catch 22 problem Tracy, and correct me if I’m wrong, where you have people they want to sell, they’d like to sell, but they’re in the same boat. They need a home. They can’t find what they’re looking for. Right. And so it’s like the chicken or egg thing, right?

Tracy:

However, those people that need to sell to buy, we just need to meet and put this strategy together because we have buyers who are willing to wait, willing to lease back that house to you until you find the house you want. So you can be a ready buyer versus having to make a purchase contingent on the sale of your home. But we can do it contingent on the sale of your home too. So meeting with us, putting a strategy in place and getting you in the right home, you know, that’s the best way

Tego:

There are. And there’s some great strategies. You know, the lease back is a great one. There’s different ways. So you can, you close and have the money in the bank as a seller and then, have time to find or wait for that next home to come on the market. There were, there are buyers out that are willing to take that deal right now because they can’t find anything. One last thing I want to talk about with this whole inventory shortage number of homes on the market so low is we do know that that homes are going to sell in this market if they’re they’re priced to the market. However, just because it’s going to sell don’t, don’t make the mistake and leave money on the table. Because if you do a poor job, getting the home ready for sale, if you do a poor job with photography and then what the realtor does, all the marketing stuff, putting the word out, the virtual tours, that’s going to make a difference on how much you end up netting on the home. And just because it’s going to sell doesn’t mean that you’re putting as much money as possible in your pocket. So think about that when in, if you’re going to be listing your home,

Tracy:

Right. And, and you know, what we’ve seen is sometimes people decide to do a, for sale by owner. But what they typically do is they reduce their price by the amount they would pay an expert to market and sell their house and handle all the negotiations and handle all the repair requests and things. So, you know, we believe that we can net you the same amount by having us represent you.

Tego:

Let me just give one more stat on that. And we can go onto our, our, the, the news of the week. I’ve got a couple of headlines I want to hit, but it’s, there’s been a lot of studies recently. And since 2006, when really the internet kicked in as a place for people to shop for homes, you know, before that it was much more traditional, you call your realtor and you drive around. Right? Right. So, so since 2006, but what actually has happened. And at the beginning of that, people were thinking, well, w you know, w th the realtor won’t be as important, we can do this all online. Well, what’s happened is it’s actually the number of people using a realtor or a real estate professional to help help them has actually increased since 2006. And so it’s, it’s kind of interesting.

Tracy:

A lot of the reason for that is it’s complicated, and there’s a lot of money at stake and, you know, not, not leaving money on the table.