PREMIER Metro Quarterly

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1 PREMIER Metro Quarterly February 11 The Power of Information Ready To Own Rentals Now is your opportunity to invest in real estate. Real Living Premier Realtors 86 Louisiana Blvd NE Albuquerque, NM Office: (505) RLPR Is On You can now catch-up on all of our community service video s at our recently launched You- Tube channel. C h e c k u s o u t a t : w w w. Yo u T u b e. c om /user/ PremierNMHomes#p/u It s a great place to get the information you need. Inside... Quarterly Sales Report Market Analysis ABQ Years in Review Graphs GAAR Quarterly Map Report (insert) Remodeling Dollars Isotopes 3 Month Schedule New Real Living Website FREE TOMATO PLANT OFFER! The word foreclosure has been prominent in many a newspaper headline lately. It has been the lead story on the nightly news and it has even become standard yard ornamentation in a few neighborhoods. It is a terrible word if it happens be happening to you or yours. But like most words, context is everything. Bank owned, Government owned, short sale and distressed sale can be a positive for some in the real estate market. Buying rental property in a down market can be a lucrative business. Here are five green light reasons to invest now. 1. According to an Associated Press article in January of this year, 11,133 households in New Mexico received a foreclosure filing last year. That is 11,000+ displaced families that will still require housing. Some may move-in with family or friends but most will now join the rental market either by leasing an apartment or a single-family home rental. 2. Supply and Demand principle: As the supply of rental property decreases due to demand from the bumped up number of displaced homeowners, the monthly rent rates will more than likely increase. 3. It will take time for these past homeowners to rebuild their credit which increases the likelihood of finding a long-term renter. One of the pit-falls of being a landlord is the uncertainty of monthly rent checks and vacancies. Having long-term tenants can decrease those anxieties. 4. There are strong indicators that we have reached the bottom of the market. The president of the Greater Albuquerque Association of Realtors, Peter Parnegg said in his 4th Quarter report, Both the average and median sale prices showed consistent growth during each month of the 4th quarter of when compared to the same months in 09. Buy low, sell high. 5. There are many move-in ready homes to choose from. Not all foreclosed, bank -owned homes require large repair projects before you are able to open the doors for renters. All this makes 11 a great time to buy properties, because we are now in the buyers market stage of the property cycle. The funny thing about buyers markets is that this is the time when buyers aren t buying. But it is the time when sophisticated investors buy good properties and set themselves up for the next stage of the property cycle. But as you ve heard before you have to be careful because not all properties will perform well. Our property markets will be fragmented and patchy. Some suburbs will outperform while others will underperform. Some houses within those suburbs will increase in value and some will be duds. Some readers will definitely need to do different things to protect their current property portfolio but if you have considered or are considering purchasing, now could be your opportunity. Talk to your Real Living Premier Realtor for guidance, advice and to get you pointed in the right direction.

2 4th Quarter - Market Report Albuquerque Rio Rancho 4th QTR vs. 3rd QTR Existing Single-Family Detached 4 QTR 3 QTR Average Sales Price: $222,351 $228,4 Median Sales Price: $178,750 $185,000 Total Sold & Closed: 994 1,113 New Listings 1,981 2,845 Av. Days on Market: Source: Greater ABQ Assoc. of Realtors 4th QTR vs. 3rd QTR Existing Single-Family Detached 4 QTR 3 QTR Average Sales Price: $193,355 $182,144 Median Sales Price: $169,450 $165,000 Total Sold & Closed: New Listings Av. Days on Market: Source: Greater ABQ Assoc. of Realtors Market Analysis by Jim Pitts, Owner/Broker HAS OUR MARKET STABILIZED? That is the question most people ask of realtors today. According to the Southwest MLS Endof-Year Home Sales Report, we maybe close to the bottom. The average sales price stabilized at $5,989 which is.62% above 09 s average. Listing inventory is up over 09 but it only rose less than 3%. Our market has absorbed the 1 st wave of bank owned and short sale inventory and still has a positive increase in average sales price. We have been told by Fannie Mae and other financial institutions that the bank owned inventory will be with us for another 2 years - when the majority of that inventory will have cycled through the market. Interest rates continue to hover around 5% and the market, although flat, is very active with buyers. If you have any questions about your home s value, call your Real Living Premier Realtor for an analysis of your home. We will be keeping you informed of the market each quarter throughout 11 with these quarterly newsletters and periodic, additional materials. If there is information or story ideas you would like us to include in future issues, please feel free to share your ideas. Thank you for your continued support. ABQ Real Estate - In Review Average Sales Price (blue colored bar) increased in ($5,989) versus 09 ($4,867). Source: GAAR Median Sales Price (red colored bar) - an exact middle price where half sold for more, half sold for less - decreased in ($179,000) versus 09 ($180,000). Source: GAAR Total number of sales dropped in (6,731) versus 09 (7,174) If you are claiming the Homebuyer s Tax Credit, you cannot electronically file your taxes. You will have to mail them with title proof of purchase. Please contact your tax advisor for further information and details. 11 Real Living is a registered service mark. Equal Opportunity Housing Provider. This is not intended as a solicitation if your property is currently listed with a real estate broker. We are happy to work with them and cooperate fully.

3 1 Sales: 79 Avg: $172,936 Med: $165,500 1 Sales: 75 Avg: $236,156 Med: $195, Sales: 56 Avg: $156,770 Med: $147, Sales: 93 Avg: $115,736 Med: $117,000 4th QTR Sales 1 Sales: 60 Avg: $222,458 Med: $193,750 3 Sales: 6 Avg: $346,800 Med: $363,300 1 Sales: 37 Avg: $2,827 Med: $164, Sales: Avg: $231,841 Med: $164, Sales: 18 Avg: $1,994 Med: $111,000 2 Sales: 3 Avg: $155,667 Med: $150,00 Sales: 34 Avg: $334,344 Med: $304,950 Sales: 22 Avg: $553,614 0 Sales: 33 Avg: $315,577 Med: $250, Sales: 34 Avg: $258,552 Med: $0, Avg: $6,337 Med: $197, Avg: $9,285 Med: $192, Sales: 39 Avg: $163,853 Med: $156, Sales: Avg: $142,228 Med: $133, Avg: $176,112 Med: $169,000 Med: $513, Sales: 73 Avg: $285,068 Med: $254, Sales: 111 Avg: $155,493 Med: $155,000 Sales: 12 Avg: $447,583 Med: $382, Avg: $471,235 Med: $403, Sales: 34 Avg: $286,9 Med: $277, Sales: 12 Avg: $284,700 Med: $265, Sales: 5 Avg: $189,500 Med: $5, Sales: 18 Avg: $5,6 Med: $112, Sales: 0 Avg: N/A Med: N/A Source: Greater Albuquerque Association of REALTORS based on data from Southwest Multiple Listing Service. Data is deemed reliable but not guaranteed.

4 3rd QTR Sales 162 Sales: 0 Avg: N/A Med: N/A 152 Sales: 8 Avg: $1,042 Med: $115, Sales: 40 Avg: $140,099 Med: $138, Sales: 33 Avg: $2,168, Sales: 52 Avg: $239,593 Med: $2, Sales: Avg: $253,365 Med: $250, Sales: Avg: $425,095 Med: $404, Sales: 0 Avg: N/A Med: N/A 150 Sales: 72 Avg: $176,390 Med: $159, Sales: 39 Avg: $2,554 Med: $189, Sales: Avg: $468,443 Med: $439,250 Source: Greater Albuquerque Association of REALTORS based on data from Southwest Multiple Listing Service. Data is deemed reliable but not guaranteed.

5 Remodeling Dollars Project Return Values. In the January issue of REALTOR Magazine, we were treated to side by side comparisons of popular home remodeling projects and the GO TO: percentage of the cost recouped from that remodel when selling. Did you miss getting your issue in the mail? Yeah, we knew that. So we thought we would share with you a quick list of popular projects and show you where you too can get a good, detailed look at the report as compiled in the Remodeling -11 Cost vs. Value Report ( Project Job Cost Resale Value Garage Door Replacement Entry Door Replacement (Steel) Minor Kitchen Remodel Bathroom Remodel Cost Recouped $1,230 $ % $1,165 $1, % $,046 $15, % $15,752 $9,0 58.4% 11 Remodeling -11 Cost vs. Value Report APRIL May :05 PM :35 PM As of 2/ :05 AM :05 AM 5:35 PM Home Games In BOLD All times Mountain Sun Mon Tues Wed Thurs Fri Sat :05 PM :00 PM :05 PM :35 PM Dates & times Subject to change Sun Mon Tues Wed Thurs Fri Sat :00 PM 29 1:00 PM 30 12:00 PM 31 JUNE 11 After game Fireworks Sun Mon Tues Wed Thurs Fri Sat There is a wealth of information now available to you at our newly launched Real Living web site. And it is not just for those actively buying or selling a home. Simply click on the Local Information tab to find cool graphs and constantly updated reports on topics such as: Housing * People * Economy Schools * Environment Quality of Life in ABQ * Maps Go exploring today at :05 PM Double-Header 4:05 PM 28 11:05 PM When real life throws a curve ball and you need to know your home s value, get REAL with a Home Value Snapshot Answer questions. Get your home s value within hours!* A FREE service (505) * Drop off/mail replies may take longer. This is for general information only and not an offer to buy or guarantee. For a complete analysis, please request a comparative Market Analysis (CMA) - a free service.

6 Real Living Premier REALTORS 86 Louisiana Blvd NE Albuquerque, NM Office: (505) Current Resident or Real Living is a registered service mark. Equal Opportunity Housing Provider. This is not intended as a solicitation if your property is currently listed with a real estate broker. We are happy to work with them and cooperate fully. Spring Planting Local Nursery Spotlight What would life be without homegrown tomatoes? Whether your space dictates a single pot, a few hanging planters, or a full fledged garden make sure to include tomatoes this year. There are so many varieties (from the larger class - beefsteak tomato to the early girl, and the smaller category of grape to the cherry tomato) that anyone can include tomatoes in their planting. And, Steve at the Alameda Greenhouse and Nursery has them all. He has been in the greenhouse business for well over 35 years and the owner/head grower for the last eighteen+ at the nursery located at 4th and Alameda. When it comes to understanding planting and gardening in Albuquerque the staff at Alameda can be one of your greatest resources. So, check out our coupon deal and start your own tomato garden. With patience, diligence and time you too can be enjoying that first BLT sandwich, pasta sauce, or those fried green tomatoes. Our friends at Alameda Nursery are offering our readers a FREE tomato plant to start their gardens this year. But hurry quick - this deal won t last long. Happy Spring Planting! (505) Code: RL6300 No purchase necessary. One per customer Offer expires May 15th. ALAMEDA GREENHOUSES & NURSERY GROWERS OF QUALITY PLANTS Great selection of: Bedding Plants * Trees * Shrubs Native Plants * Garden Supplies * etc /2 4th St. NW (SW Corner of 4th & Alameda