Not only are the number of sales in your area of Rio Rancho pacing higher 2009 vs. 2008, but the number of homes selling are also up July over June by 9%! I agree with Rich that the first time homebuyer $8,000 tax credit has a lot to do with this wonderful activity, making right now finally a very opportune time to sell. Nevertheless, whether or not your home will sell fast and for a reasonable price is a function of pricing it correctly and delivering a very polished presentation. If you would like specific information on your home, please visit (cut and paste this address into your browser): http://www.nmhomesonline.com/home-seller_worth-rio-rancho-co… Please let me know if you have any other questions that I can offer you great service with!~

Warm regards,
Sean Remington

Recently we received some very good news about the Albuquerque real estate market. Closed sales were up 4% in July of 2009 versus July of 2008. This was the first year-to-date increase in closed sales in some time. I would attribute the increase in sales to the effect the $8,000 first time home buyer tax credit. If you would like to read more information about the condition of the market please visit my blog below .

The market conditions depend on whether or not you are a buyer or a seller, where the home you want to buy or sell is located, if your selling - when did you buy? It's a buyer's market overall. The under $200K range in the NE Heights is pretty aggressive still. The over $300K throughout the metro area is much slower. There are many short sales and I see this climbing particularly among luxury homes and anyone that purchased from 2005+ is struggling to sell and close without bringing money to the table. MLS area 90 is plagued with short sales and Rio Rancho has a high number of short sales. Based on a recent stat - about 25% of shorts sales are closing so then come the foreclosures. If you are selling, you have a lot of competition and most buyers are looking for the deal.

If you have good credit and are looking to purchase, now is the time. While I think we have a 2 year cycle before we unload all the short sales and foreclosures, you'll know we've hit the bottom of the market once we're climbing back up(too late). If you are a buyer with time and patience on your hands, I would contemplate a short sale - you can get a good price but takes a long time and is a bit of a "gamble" that your offer will be accepted and all lenders behave differently. But deals are out there.

Sellers need to face realtiy when it comes to their ome sale. Your home is only worth what someone is willing to pay for it. The majority of sellers are not embracing this reality and many homes are still over priced and not selling.

It's a great time to be a buyer...

It is a solid investor's market.