C. Lloyd Mckenzie

Good to see these questions being asked in this forum. I would heed the cautions given thus far. Local Realtors like myself do provide Comparative Market Analysis (CMA) free of charge. But you always have the option of hiring an appraiser.

Consider the fact that Albuquerque homes have held their values throughout the current crisis. However, as the crisis continues, should the foreclosure numbers increase to the magnitude of say Colorado Springs, Florida, California, it will definitely depress our market.

Regardless of the current market condition, if you are not selling and you do not have one of those exotic mortgage that will reset, then I would say, don't worry about the value at this point in time.

Thanks for asking the question! - Sat Jul 5 2008, 15:23

Michael,

Here is the problem that you have with the above question, it is difficult to determine the true answer. I bet all the big firms here would claim that there's is top selling agent in Albuquerque. Because of the way the industry works, a person forms a team, takes on a team of 10 agents, then takes credit for the entire volume of production. Take a look at Rhonda Duffy, check out her production for 2007, and I bet most of the big firms would disagree that she is the top selling agent. Actually, she is.

In your search for an agent, focus on what the individual will do for you. Will this agent do all the things promised? Is this agent straightforward and honest with me? Does the agent under promises and over delivers? What kind of creative marketing ideas does he/she uses? Does the agent get my property in front of potential buyers? How well does the agent communicates? How often does he/she communicates? Does the agent have an open door policy? Does the agent answers his/her cell phone when it rings, and are all messages returned within 24 hours? Can you contact the agent after hours if you feel the it is urgent?

Good luck in your search!

C. Lloyd McKenzie, MBA, e-PRO, CDPE
ALLSTAR REALTY, LLC
Cell: 505.350.5882
Toll Free: 800-592-0882
Lloyd@LloydMcKenzie.com
http://www.LloydMcKenzie.com
“…the people’s Realtor” Do you know of anyone who is about to lose their home? Help is available. I offer viable alternatives - Sat Jul 5 2008, 14:46

First of all, let me say that I am happy that you are approaching this as a buyer, and not as someone in foreclosure. The fact of the matter is, foreclosure is very painful process. With regards to the "as seen on TV" statement, just disregard it. We are in New Mexico, we are governed by New Mexico Laws. Don't be fooled by these unscrupulous opportunists on TV. By the way, you will probably have to attend a 2-3 day seminar and pay hundreds to thousands of dollars to get the "secret" that is free of charge on HUD or other websites mentioned in other answers.

The other agents have given some good insights. As a buyer, get an agent who specializes in foreclosure to help you. Now you asked specifically about govt taxed foreclosed home, that is only a limited portion of foreclosure market. There are a few others that might be of interest to you. One area that has not been mentioned so far is "Short Sale" or pre-foreclosures. Short Sale can be the source of some great deals. It does take patience though.

Unfortunately, this area has been tainted with abuse by investors. My recommendation to you would be, to get a REALTOR who specializes in short sale. Short Sales, like REO's and HUD Homes are are usually listed in the MLS. Good Luck! - Sat Jul 5 2008, 14:05

As a Realtor, I recommend that you checkout a rating organization like great schools, along with the APS' website. As a parent faced with that same issue 12 years ago, I developed a list of concerns that I had. Consider this, you will be entering into a partnership with the staff, faculty, and the school community. You will be forging a relationship with them...a big part of that dynamics will be dependent on you. I will say this though, you do have choices in Albuquerque. My children both graduated from high school and are currently attending college. The fact that you are seeking information at this juncture, speaks volume about you as a parent. In the final analysis, things are going to work out. So, Welcome to New Mexico, and good luck in all your endeavors.

Websites: http://www.aps.edu
http://www.greatschools.net - Sat Jul 5 2008, 12:43