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Market Conditions in Corrales : Real Estate Advice

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  • Home Buying1
  • Home Selling0
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Activity 3
Sun Oct 3, 2010
Dee Eaton answered:
Hi Evac...hopefully this reaches you as you sit with a sold home...your question actually had a hint at the answer. If you already knew homes weren't selling at a certain price and you "joined" that competition---that was a mistake. In this market, the key to selling isn't just a beauty contest...PRICE reigns supreme! The fact that the home is practically new and in great condition contributes to "impression" but unfortunately buyers are crazed "deal hunters" right now. A home that's priced aggressively will not endure a long listing period.

Also, the simple truth is that the price point at which you are competing in is not as active as the market below $250K. Home Builders are experiencing this and so is the re-sale market.

Good news is that Corrales is still a very desireable area (even though sales are sluggish). I've lived in Corrales for the past 13 years and love it. I've seen first hand our great markets and now this...

With so many homes available to buyers right now---keep in mind the "beauty pageant" has now become a "swap meet"---Buyers want a "deal".
... more
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Sat Apr 19, 2008
Karen Oyler answered:
Hello LG,
Check with your trusted Lender. It might be a benefit to you if you currently have a higher interest rate and you plan to remain in your home to recoup the refinance costs. As Mary has mentioned there are many variables to consider. Your goals or reasons, property value vs current debt on property, interest rates current and possible refi. rate and of course the cost vs savings of refinancing your home.
Hope this helps.
Thank you,
Karen Oyler
... more
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Fri Apr 18, 2008
Mary Marcilla dba New Mexico Home Pros, Inc. answered:
Thank you for this great question! Corrales is unique in the home market - appealing to a sector of the market that searches for individualistic life styles and a foundation in Southwestern sense of freedom with its charming historical stamp. However, Corrales charm is not enough when a home owner fails to maintain his property. Properties may suffer depreciation if due diligence is not practiced. Astute buyers are buying the best deal in Corrales while a large selection of homes remains on the market. An experienced real estate agent is your best friend in this case. An agent previews homes constantly to locate the most desireable homes for a client. A consultation with a professional Realtor should be your first step before placing a home on the market. ... more
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