by Cheryl Marlow on January 11, 2012
Q1: BOB: Good morning Cheryl. I understand you have the December 2011 Market Report for us today?
A1: CHERYL: Yes Bob! It is exciting to see many positive statistics in our December report. There were over 600 attached and detached homes put under contract last month. Detached sales in the Greater Albuquerque Market rose 6.3% from November 2011 and had a 3.56% increase from the previous year. Pending home sales in December 2011 increased 11.5% from the previous year which was the highest December month of pending sales since 2006.
Q2: BOB: Is there still a large oversupply in the market?
A2: CHERYL: The active listing inventory of homes and townhomes available for sale is 4,243. This is the lowest level since July 2006! Supply and demand are becoming better balanced and that is a positive sign of the market stabilization I spoke about last week.
Even as the market improves we are still in a price war and a beauty contest! Homes need to be realistically priced for today’s market in order to attract the buyers. Remember, buyers are no longer purchasing on emotion but are purchasing on value.
Q3: BOB: So what do you think the coming months may hold for our real estate market?
A3: CHERYL: Well Bob, I think that February and March will still show fairly strong numbers. If you are thinking of selling now is the time to put your home on the market because there is less competition. If you are buying, interest rates are still fabulous and there are a lot of great homes out there for serious buyers!
Q4: Bob: Well Cheryl, how can people reach you today to buy or sell a home?
A4: CHERYL: Call me on my cell at 238-3272, 238-3272 or email me at cheryl@cherylmarlow.com. And of course, check out our website at cherylmarlow.com.
As always, who do you know that needs to buy or sell real estate today? Thanks!!
by Cheryl Marlow on January 4, 2012
Q1: BOB: GOOD MORNING Cheryl, What is the real estate outlook for Albuquerque?
A1: CHERYL: I am cautiously optimistic that 2012 will be a positive year for the real estate market. I am expecting to see continued stabilization in the majority of Albuquerque areas. A few locations and price points may still see some slight decline.
Q2: BOB: What areas or price points are you less optimistic about?
A2: CHERYL: The upper end market is still suffering with an oversupply of inventory, which creates downward pressure on pricing.
The west side of town may see a slight decline in some areas that were specifically impacted by the number of short sales and bank foreclosures. However, both the west side and the upper end are seeing movement again and that is a good indication that things are improving. If you are a buyer, there are still some great opportunities in these areas and price points.
Q3: BOB: Overall you think things are going to be better this year for our real estate market?
A3: CHERYL: From everything we can tell that appears to be true. We had a busier last quarter of 2011 than we have had in years. Home sale numbers have also been steadily increasing each month. In November alone we showed an increase of 26% in pending home sales from the previous year so it looks like that upwards trend is going to continue with us throughout the New Year. Overall I have a positive outlook for a slight increase in number of home sales this year over last. And the most exciting news is that some Albuquerque areas may even see appreciation in 2012!
Q4: BOB: Wow, appreciation would be great news!
A4: CHERYL: I’m cautiously optimistic that this year is the year we will start to see appreciation as part of the slow but steady real estate recovery!
Q5: BOB: Thanks Cheryl. How can people reach you if they’d like your help today?
A5: CHERYL: They can call me on my cell at 238-3272, that’s 238-3272 or email me at kkob@cherylmarlow.com. And for more information on me, my team and what we can do for you please visit Cherylmarlow.com.
