Aug. 2, 2017

We Help Sellers Succeed When Other Agents Can’t

We recently took over a listing that was on the market for two months and didn’t receive an offer. We ended up selling it in three days for $25,000 more than it was originally listed for.

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I’ve got a quick story to tell you today about how a recent home sale resulted in one of our agents getting more money for their seller than they were getting on their own.

As soon as we took over the listing, we ended up selling for $375,000 in just three days. The fascinating part is that the home was on the market for the previous two months at $350,000 and didn’t get any offers. How did this happen?

 


We sold the home for $375,000 in three days.


 

There were a few causes. One of them was hiring a much better real estate agent with staging and marketing expertise. It’s important to consult a team that knows marketing in order to get your home sold for top dollar.

The amount of money that we were able to get our client was above and beyond what the cost of a Realtor was initially.

If you have any questions for us or are thinking about selling your home while conditions are still fantastic, give me a call or send me an email. I look forward to hearing from you soon.

 

Posted in Home Seller Tips
July 17, 2017

How the Fed’s Recent Rate Hike Impacts Our Market

The Fed’s recent rate hike shouldn’t have any significant impact on our market. In fact, it might actually stimulate it.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

 

On June 14th, the Federal Reserve increased its federal funds interest rate by 0.25%. They’re also widely expected to raise rates once or twice more over the course of 2017. What does this mean for the real estate market?

While any action by the Fed always garners a lot of attention, I believe these increases will not have any significant impact on our market.

First of all, mortgage rates have actually trended lower in the wake of the Fed’s recent announcement. The 30-year mortgage rate recently hit 3.9%, the lowest level in 2017. In fact, it’s a common pattern for the mortgage rate and the Fed rate to move in opposite directions, and the same thing has happened the last two times the Fed raised rates.

 


These increases will not have any significant impact on our market.


 

Second, the economy continues to do well. The Fed decided to increase its rate because unemployment and inflation are low, household spending is picking up, and we’ve seen steady growth for the past nine years. This is good news for the real estate market. As expected, we continue to see strong demand and a corresponding increase in home prices. 

Third, while the Fed’s rate increase is normally meant to cool off the economy, it might actually stimulate it in this case. Because interest rates were so low for such a long period of time, experts believe the recent increases might ease pressure on the financial system and encourage lending. 

Case in point: since the Fed started raising its rate in December 2016, total mortgages are up 2.5% year over year. 

In conclusion, while any move by the Fed is likely to lead to a lot of hand-wringing, I believe the real estate market will not be affected and will continue on its own healthy course. Nonetheless, it’s clear that right now is a uniquely good moment for everyone in the real estate market. Today’s low mortgage rates are good for homebuyers because they make homes more affordable.

If you have any questions about our market or you’re thinking of buying or selling a home, give me a call at 505-301-0694 or send me an email at TempletonTeam@kw.com. I’d love to help.

 

Posted in Market Update
May 1, 2017

Why You Need to List Your Home Right Now

Thinking about selling your home? Now may be the time to do it. I’ll go over why today.

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Selling a home? Click here for a FREE Home Price Evaluation

If you’re thinking about listing your home, you should think about doing so right away. Here’s why. 

There are many small areas in town with very low inventory. We call these areas micro-markets. When we look at pricing for those areas, prices have actually gone up because demand is greater than supply. You might be in one of these micro-markets, a small area or neighborhood in a specific area of town where there is a lot of demand for a home to come on the market.

 


Listing your home before the summer months hit will be very advantageous.


 

If that’s the case, the price you can get for your home may be higher than you expect due to low inventory. In fact, we are getting prices now for homes that are setting records for the last 10 years. 

If you’re thinking about selling or if you know someone who is thinking about selling, be sure to at least consult with us to see what we could get for your home in the next three months. Because many people will start to take advantage of the micro-market situation during the summer months and inventory will increase, getting your home listed before those months hit is going to be the best plan of action. 

If you have any questions, please don’t hesitate to give us a call or send us an email. We’re always happy to help! 

 

Posted in Home Seller Tips
March 29, 2017

The 3 Biggest Challenges Homebuyers Are Facing

Homebuyers are facing three big challenges in today’s market. I’ll go over what those are and how you can overcome them today.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

 

There are three big challenges that homebuyers are facing in today’s market. I’ll go over these challenges and give you a few tips on how to overcome them. 

The first challenge is the amount of competition on the market. Because so many buyers are vying for the same homes, it’s important to know how to craft a strong offer that will stand out. Our team can help you build an offer that still gives you the best value and saves you money without coming across as weak or lacking something. 

The next challenge is that expectations have shifted. Sellers aren’t updating everything in their home, which means not everything is going to be perfect. Try to make a list of three to five must-haves, and be happy if you get some extras. It’s going to be hard to find your exact dream home, which is why we try to get you a great price so you can make the desired updates yourself. 

 


Try to stick to a list of three to five must-haves.


 

The final challenge buyers are facing is multiple offers. However, we know some great tips and tricks to craft an offer that will really stand out to a seller. 

If you are looking to buy or sell a home, or if you have any questions, please don’t hesitate to give us a call or send us an email. We’re more than happy to help! 

Posted in Home Buyer Tips
March 10, 2017

5 Ways to Attract Millennial Homebuyers

Just like all generations, millennials have specific wants and needs in terms of buying a home. Here are five things you can do to better expose your home to millennial homebuyers.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

 

Millennials think about home buying in a different way than older generations of homebuyers. If you’re selling your home, there are five things you can do to attract this segment of buyers.

The first is expose your home from the best angle. Baby boomers cared more about two-car garages, but millennials care more about open floor plans. They’re interested in how the home is going to be used for social entertainment purposes and cultivating relationships. 

Second, you should sell the neighborhood you live in. Millennials care about where they live and how they’re going to interact with businesses, shops, restaurants, etc. They’re also concerned about whether the neighborhood is walkable and if there are people around who they’ll like. If you can produce a couple cute pictures or provide a couple descriptions about what’s happening in your neighborhood or why it’s great to live in, you’ll have far greater success in your home sale.

 


Millennials don’t necessarily want the things previous generations wanted.


 

Third, show off any environmentally friendly features your home has. Millennials care about the environment, so if you have a backyard garden, you’ve installed solar panels, or you get great solar gain from southern exposure, they are great things to talk about. 

Fourth, make your home feel clean and modern. Oftentimes, the homey or Americana aesthetic isn’t what millennials are looking for. Go for something sleeker instead by perhaps updating your cabinets or countertops. 

Lastly, advertise your home effectively online. Our team provides Facebook ads for every property that we list, and the team you choose to help sell your home should expose it to the places millennials pay the most attention to.

If you have any questions about this topic or you’re thinking about buying or selling a home, feel free to give us a call. We’d be happy to help you in any way we can. 

Posted in Home Seller Tips
Feb. 20, 2017

3 Tips for First-Time Homebuyers

Today I want to share some great tips for first-time homebuyers. 

Buying a home? Click here to perform a full home search

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I have a few tips for first-time homebuyers that I would like to share with you today. Even if you’re not buying a home for the first time, I want to make sure you can help out anyone you know that might be looking to take that step in the future. 

The first tip is to establish a credit score. Get a credit card to establish six months to a year of basic credit. One of the things I often find with first-time homebuyers is that they don’t have enough credit, they don’t have credit at all, or they’ve allowed a few missed payments to ruin their credit. Be aware of how to keep your credit healthy six months to a year in advance. 

Next, start saving for that down payment. A lot of time, buyers think they have to save 20% to put down. However, conventional financing actually starts at around 5% down. You still want to take closing costs into consideration, so start saving a few hundred dollars every month to prepare for those.

 


A little bit of paint and decor can make the home you can afford feel like the right fit.


 

The last tip is to realize that your first home might not exactly be your dream home. Identify the top three things that matter to you most as a homebuyer and start looking for those things online. You may have lived in a nice home with your parents, or some nicer apartments, but keep in mind that the home you can afford might not be your idea of a perfect home. However, a little bit of paint and decor can go a long way in making the home you can afford feel like the right fit for you. 

If you have any other questions about buying a home for the first time or if you have any other real-estate related questions, please feel free to give us a call or send us an email. We look forward to helping you soon! 

Posted in Home Buyer Tips
Jan. 30, 2017

Top Tips to Sell Your Home Quickly in 2017

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

How can you sell your home quickly in 2017? You probably know that you have to declutter and take care of minor repairs. However, I have a few additional tips for you today. 

First of all, when you think about decluttering, remember that you have to depersonalize your home. You probably know that you have to take down family pictures, but go beyond that. Think of all of the things that make your house a home and compare that to a model home. 

When you walk through a model home, it usually has neutral colors and simple designs. There is nothing that makes it feel like someone else’s home. As a result, buyers are able to walk in and envision themselves living in the space. You need to do the same with your home. Decluttering will also make your home look bigger as you get rid of extra stuff.

Now, when you make repairs, focus on the most obvious ones. Worry about the problems that will catch a buyer’s eye, like painting the doorframe or repairing dry rot. Buyers see small things like that and think that other, bigger maintenance items haven’t been taken care of.

 

Focus on the most obvious repairs

that would distract buyers.

 

As for bigger repair issues, you can negotiate those as part of the sale. Just worry about obvious problems that will distract the buyer from seeing the home as they walk through. 

Finally, consider how to competitively price your home. We had a fantastic year selling homes at really great prices, but sometimes prices change. Some markets in Albuquerque are already starting to shift. 

You want to get ahead of that before too much inventory comes on the market; otherwise, you’ll end up competing against a ton of other houses and you will have to lower the price. The best way to price your home is to look at what the market is doing the very month you decide to list your property. 

Pricing your home right to begin with is the best way to sell quickly and for the most amount of money. If you overprice your home, it will sit on the market for a long time and buyers will wonder what’s wrong with it. 

If you have any other questions about selling your home or about the spring real estate market, give me a call or send me an email. I would be happy to help you!

 

Posted in Home Seller Tips
Jan. 9, 2017

Why Should You Sell Your Home Now?

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If you are thinking about selling your home, you may think spring is the best time to list. That’s true; however, what many people don’t know is that the spring market starts in January.

After the holidays, buyers flock to the Internet to begin searching for their new home. In fact, web traffic for online home searches doubles from the last two weeks of December to the first two weeks of January.

By listing your home early in 2017, you’re going to get ahead of the people who think the spring market starts in April.

 

Buyers have already started their home searches for spring.

 

Selling your home also means taking a few weeks to declutter or spruce up your home for the market. By planning to list at the end of this month, in February, or even March, you’ll have time to prepare your home and still beat out the influx of April competition.

If you’d like a free home evaluation so you’re ready for the market before April, or if you have any questions, please feel free to give me a call. I look forward to hearing from you!

Posted in Home Seller Tips