Rich Cederberg's Albuquerque Real Estate Blog

"The next chapter in space transportation is being written right now in the State of New Mexico. Forward-thinking pioneers are developing both vertical and horizontal launch vehicles using the power of free-market enterprise." Visit SpaceportAmerica.com

Spaceport America may be launching ordinary people (well OK, really wealthy ordinary people) into space before we know it.

I know some Albuquerque Realtors I'd like to launch into space!

Tired of searching through hundreds of listings online to find homes for sale in La Cueva High School district? La Cueva High School is Albuquerque's most popular high school. 

Today there are over 300 three bedroom homes in La Cueva HS district for sale, and 229 four bedroom homes for sale in La Cueva HS district.

There is a wide variety of home styles available from more affordable La Cueva homes under $250,000, to more expensive custom homes. 

If you've seen a home online and you want to check the schools for that address, go to the Albuquerque Public Schools website and look for the "Find a School" search on the home page. Visit their website to learn more about La Cueva High School.

Are you looking for affordable Albuquerque Real Estate Homes? Then you're in the right place. I have found about 40 awesome deals for under $80 per square foot!

Tired of searching through hundreds of listings online trying to find the homes that are priced to sell, only to find out they're all short sales? Well, you're in luck, because I have hand-picked through all of the current Albuquerque Homes for Sale and found about 40 homes that are priced to sell and under $80 per square foot. These are not difficult to buy short sales, they are regular listings and much easier to buy bank owned homes.

Three reasons you should buy a home right now:

• Affordable prices. We're at the bottom of the market!
• Incredibly low interest rates. They can only go up from here!
• Motivated sellers. They want to sell now!

Would you like to buy an Albuquerque home for under $80 per square foot? Then call me at 505.803.5012. Or if you just want to search the Albuquerque MLS, that's OK too 

Today I helped two New Happy Homeowners close on a Bank Owned Home in Rio Rancho. 

Buying a bank owned home is a good way to get a great deal on a new new home, but buying one can have it's challenges. There can be delays waiting for the bank to sign and return paperwork, there can be repair issues and there can be title issues too.

Today, my clients used a loan program I didn't know about until recently, the Indian Home Loan Guarantee Program. It's an awesome program for anyone who is eligible. Use the link to learn more.

Buying an Albuquerque Foreclosed House or a Foreclosed Home in Rio Rancho  is not for everyone, but if you want a good deal and don't mind a few more headaches than usual, it might be right for you. If it is, then I'd love to help you. Contact me, Rich Cederberg, Albuquerque Realtor, for more information on bank owned homes.

Recently I spent an afternoon in beautiful Corrales New Mexico.

It all started with a nice relaxing lunch at the Indigo Crow Cafe.

Corrales is located along the banks of the Rio Grande just north of Albuquerque and south and east of Rio Rancho.

One of the nice things about Corrales is that even on a 95 degree day in Albuquerque you can drive to Corrales to escape some of the heat.

Even though it was really HOT that day, we ate outside in the shade of the tree-covered patio and were very comfortable.

Corrales is located in the Rio Grande Valley, and even though it's only minutes from Albuquerque and Rio Rancho it might as well be hours away.

Not only are the temperatures cooler in Corrales, it's a totally different setting than the nearby city.

As you drive into Corrales you are welcomed by a sign that says "Slow Down, we are an animal friendly Village." 

There are some businesses too, along the winding 30 MPH road that snakes through town, but not too many, just enough to get by.

As you drive through town you'll see a vineyard and an orchard, and you may even see a resident riding through town on horseback. It's so commonplace to see people riding in town that the locals barely notice. Don't look too hard or they'll know you're a tourist!

But if you get off that winding road that goes through town, you'll experience more of the rural Corrales charm that locals love and that fuels the dreams of many Albuquerque homeowners like me and my wife.

You'll see irrigated fields with apples and grapes, you'll see open fields and grazing horses, cattle, sheep and even some guinea hens.

"Guinea Hens on Patrol"

I hope you've enjoyed reading a little bit about Corrales. You might even want to live here some day, and of course if you do I'd love to show you around. And don't be worried about the cost, there is a wide variety of homes for sale from Corrales affordable homes to Corrales Luxury Homes and everything in-between.

Wouldn't you love to live in Corrales NM? I know I would.

If you know anything about me, you know that I'm from Glen Ellyn, IL, just outside Chicago. We people from Chicago take some things very seriously, especially our Sports!

This is the first Stanley Cup in my lifetime, and although I'm not the biggest Hockey fan ever, I'm still pretty darn excited!

I grew up playing hockey in my friend's driveway in the Chicago area. We used to pretend we were Keith Magnuson and Bobby Hull. When it was winter and the ice was thick enough on Lake Ellen, we'd out our skates on and take the game out onto the ice. Let me tell you, there was never a more difficult sports challenge for me!

Congratulations Hawk fans! Congratulations Chicago! It was worth the wait!

Here is my Ventana Ranch Real Estate Report for May of 2010. These are the most current, comprehensive and specific market statistics that I know of for Ventana Ranch.

The graph represents a 5 year history of the total number of closed sales during the month of May in Ventana Ranch. Obviously there was a large jump. In fact, May sales were the best they have been in three years.

This graph represents a 5 year history of the average home sales price in the month of May. Average year-to-date home prices were down approximately 4.5% in Ventana Ranch.

To read the rest of my monthly report please visit my Ventana Ranch Blog.

Or if you'd like to view some of the Ventana Ranch Homes currently for sale visit my Ventana Ranch Community Page on my website.

I publish market stats to show the trends in the market. If you are thinking of selling your Ventana Ranch home contact me and I'll put my expertise to use for you!

Piedras Marcadas Neighborhood Association invites you

Councilor Lewis will be hosting a meeting regarding
Roadway Infrastructure in the Northwest Mesa

with

Department of Municipal Development

Director Mike Riordan

~~~~~~~~~~~~~~~~~~~~~

When: June 22^nd, 2010 at 7:00

Where: Don Newton Taylor Ranch Community Center

~~~~~~~~~~~~~~~~~~~~~

Formal updates on the following projects:

Distressed properties continue to make up a growing share of the homes for sale in Northwest Albuquerque.

The three main types of distressed properties are short sales, HUD homes and bank owned homes (sometimes called REO's). The homes may or may not be in good condition. The term "distressed" actually refers to the current homeowners who are in distress because they can no longer make their payments, not whether or not the walls are damaged or whether the carpet needs replacing.

Here is a little more information on each type:

• Short Sales: The owner is trying to sell the house for less than they owe on the mortgage. The owners plan to ask the bank to forgive the difference between what they owe and what the home is worth allowing them to sell without having to bring the difference in cash to the closing table. Short sales may or may not be in pre foreclosure. Short sales can take a very long time to close, up to 9 to 12 months with some lenders.
  

• HUD homes:  HUD homes have already been foreclosed upon and are now owned by the US dept of Housing and Urban Development. Like short sales they are priced below market value, however HUD homes usually sell much more quickly. There are not very many HUD homes on the market at one time. HUD homes are bid for online.
  

• Bank owned homes or REO's: These homes have also been foreclosed upon. There are more bank owned homes or REO's than HUD homes, and the process for buying them is different, more like buying a regular resale home. Inventory of REO's is increasing. Buying a bank owned home is the best way to get a good deal on a distressed home. Short sales take too long and sometimes never close, and HUD homes are rare and sell quickly.

Of the 466 homes for sale in Northwest Albuquerque, 86 are short sales, 27 are Bank Owned Homes (REO's) and 2 are HUD Homes. 

81 sales have been reported as closed in May in Northwest Albuquerque. 6 were short sales, 16 were bank owned sales (REO's) and one was a HUD Home.

You can see from the charts that even though short sales make up more of the housing inventory in Northwest Albuquerque, it's actually bank owned properties that are closing.

Search Albuquerque Short Sales

Search Albuquerque Bank Owned Homes