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Market Conditions in 87122 : Real Estate Advice

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  • Local Info0
  • Home Buying2
  • Home Selling1
  • Market Conditions0

Activity 18
Wed Apr 17, 2013
Alyce Martin answered:
Hi Viola,

Please call me at 505.331.8285 for information about 1035 Cottonwood.

Alyce Martin, Realtor
505.331.8285
HomesearchABQ.com
The Realty Group, LLC
0 votes 4 answers Share Flag
Tue Dec 11, 2012
Leigh-Jo Anzures answered:
Hello Debbie,

In the past six months, there have been 106 closings. Prices ranged between $25,500 to $451,000 setting the average price per sqft at $98. Properties were on the market for as little as 0 days to as much as 594 days.

Presently, there are 30 properties under contract and 84 actively on the market.

If you would like a more refined view of the area, just let me know a property address or a general location you would like details on.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
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Mon Jan 7, 2013
CJ Ciddio answered:
Virtual Tours, and Direct Email Marketing all part of my Powerhouse Marketing System!
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Wed Mar 30, 2011
David Stafford answered:
Yes, considered a single family home. This lot appears to be half an acre. It seems to be worth about $100k - $120k, depending on condition of home. I can assist in nailing down a vaule and selling it quickly if you decide to do so. Contact me anytime with more questions. ... more
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Sat Feb 19, 2011
Zuglo asked:
0 votes 0 Answers Share Flag
Wed Jan 27, 2010
Don Tepper answered:
No. Not really. You might also try http://www.RealEstateABC.com. Before I became a Realtor, I used that site a lot because it typically provided more comps, and allowed me to better sort and select them. You may end up doing more work, but the information may be slightly more accurate.

Any of those online services is going to be somewhat inaccurate and incomplete.
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Tue Feb 9, 2010
Paul Taylor answered:
Hi Erik,
It's actually your agent's job to provide you with the data with which to make your home buying decision. That data is in the agent's section of the MLS. Should you need further assistance, please feel free to call me at 400-4129.

Paul Taylor
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Wed Jul 1, 2009
Emily Knell answered:
There IS new-er regulation regarding appraisals, you can google it "HVCC appraisal regulations or new laws", this is something that is affecting buyers, however any lender who has been in the business for a while can work through these issues. It has to do with appraisals being assigned to a new lender should the buyer be "shopping" for a loan (which most are).

It's no secret, all around the country prices ARE dropping & are going to continue to drop in many many areas. I do believe the Major Price Depreciation is over though, prices have already dropped as high as 70% in some areas. I suggest you get an opinion from 3 different Realtors in you area regarding value. Find out how much the property has dropped in value in the past year, the past 6mos, the past 2mos. or more to the point, since you purchased it.

Also go to http://www.realquestinvestor.com See what else around your property is in Pre-Foreclosure OR heading to auction OR already Bank Owned. If TONS of flags pop up, you can be assured that your property will continue to drop in value, from your current break even point.

Are you not all on title? If you are ALL on title & 1 of you wants to sell, he/she can't unless you ALL agree to sell.

If you can sell & break even, seriously consider doing it, based on what the Realtor says the value is now & how drastically it has dropped since you purchased it. Buy again in 1year, build your equity back up from there.

I can refer you to an agent in that area if you like.

emilyknell1@yahoo.com
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0 votes 2 answers Share Flag
Thu May 7, 2009
David Stafford answered:
Not yet in Albuquerque. Foreclosures are still rising and you can now get a nicer house in California for $250k than you can here - we have a ways to drop yet. Maybe not as severe as some of those other southwestern markets and it won't drop overnight, but I think we have another 5-10% to go on the west side and another 3-6% on the east side. of town We could also experience a double dip, if inflation kicks in the way I expect it to (and so do many others): http://budurl.com/cfmg

However, I do sincerely believe 2009 is the year to remember as the best opportunity to "move up". If anyone out there is even thinking of moving up in the next few years, do it now! II am buying more myself and telling all my friends and family to refi, move up, or buy that investment or rental now - this is the perfect storm of circumstances to make this the opportunity of a lifetime to buy, just before the perfect storm to make it a bad time (once inflation returns along with pent up demand - household formation has not been put on hold, while building has come to a screeching halt.) I do not know the exact timing, nor does anyone, but don't try to time it perfectly - I am happy to expoound much more anytime, just let me know. Great question for us all to address Mike, what is your professional opinion on this one?
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Mon Jul 6, 2009
David Stafford answered:
Here you go:
http://www.gaar.com/market_statistics/
0 votes 2 answers Share Flag
Tue Aug 31, 2010
The Virtual Tour Guy answered:
Tanoan is the brainchild of an advanced and far thinking developer in Albuquerque who made some very good choices and "made it happen". Before Tanoan, Mother Nature had installed an arroyo from the foothills of the majestic Sandia (Watermelon) Mountains to the river at the valley floor. This arroyo took nearly ten years to fill with tyical landfill ingredients diligently hauled in buy the local population who paid for the privelidge of dumping trash in the heart of thier city. Tanoan is a private community and has a golf course nearly three miles in length that boasts 29 holes. The greenskeeper is extremely talented. Gates are guarded and manned 24 hours and the HOA handles all your lawn and garden needs. She is apparently ageing gracefully and the homes are well built, laid out nicely and are fairly consistent in appearance though there is never much of a back yard to anyones home. There are some pools and fantastic views of both the valley and mountains. ... more
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Mon Oct 13, 2008
Bruce Shah answered:
I am sure your biggest concern beyond getting the right situation for your family is the horses you will be bringing. You may wish to contact either the New Mexico Horseman's Association or the New Mexico Quarter Horse Association for general advice.
If you plan to explore housing that permits horses on site, then close in locations would be Corrales or the North Valley, while the East Mountain area or Los Lunas/Belen are more distant alternatives.
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Wed Jul 30, 2008
The Venturi Team answered:
There is an article in today’s (7/22) Westside Journal that details what is going on with the plan. Also my listing #532574 has the plan maps attached. Also, if you dig around on the city website you can find the complete master plan.

I had heard the there was a lawsuit pending… I hope they can get this resolved and start moving things forward.
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Thu Apr 17, 2008
Leslie Mckenney answered:
That seems to be an ongoing theme in many cities. Every city will not go through these adjustments at the same time. It might be their turn.
0 votes 1 answer Share Flag
Fri Nov 19, 2010
Roberft Muschat answered:
I will answer ab out 400 Morningside SE Albuq, NM most homes there on that street go forf b etween180K up to 300K depending on condiiion.
0 votes 2 answers Share Flag
Sat Jul 5, 2008
ian cockburn answered:
Still find a realtor to help you...and keep their name for later.
0 votes 10 answers Share Flag
Wed Oct 3, 2007
Bruce Shah answered:
I am going to sound a little "contrarian" to all the market news. Overall, Albuquerque is in FAR better shape than most markets. Yes, we have had some drop in value but the real damage has occurred on the edges of the city where most of the new home building is happening. In general, settled neighborhoods, like Eagle Springs, have fared far better. In fact, most of the NW Heights (inside the Petroglyphs) and NE sections have maintained most, if not all, of their value when compared to 2006. ... more
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Wed Jun 10, 2009
Cj answered:
Housing and Urban Development (HUD) has prepared a detailed market analysis report on the Albuquerque Housing and Rental Markets, you might want to go visit the government site and look through the report for information that might be able to help you in your research. Here is their site:
Comprehensive Housing Analysis Report for Albuquerque
http://www.huduser.org/Publications/PDF/CMAR_AlbuquerqueNM.pdf
Good luck on your research
... more
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