Rich Cederberg's Albuquerque Real Estate Blog

Here is my Paradise Hills (Area 121) Real Estate Report for January 2010.  Area 121 extends from Unser blvd east to Coors Blvd, Paseo del Norte north the Rio Rancho/Albuquerque Border and includes these neighborhoods: Stonebridge, Paradise Heights, Seven Bar, Paradise Meadows, Paradise Green, Crystal Ridge, Paradise Hills and Eagle Ridge plus others. 

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The graph represents a 6 year history of the total number of closed sales in the month of January. 

This graph represents a 6 year history of the average home sales price in the month of January. 

90 Day Forecast

Buyers are very active right now. Visits and property searched on my websites are up like it was May or June. Buyers who feel they almost missed their chance to get their $8,000 first time home buyer tax credit are determined to not let it happen again.

Let's not forget how strong sales were in September, October and November. Then look how the numbers crashed in December when buyers thought the credit would be gone. Of course it got extended, but I believe sales will follow a similar pattern again in April, May and June when the current extension expires. Then activity will probably plummet when it's over.

It's important to understand local market conditions when you are looking to buy or sell. When you hear real estate news on the television remember that market conditions can vary greatly from state to state, city to city and even neighborhood to neighborhood. Contact me if you'd like to receive a free market analysis for your current home.

Please call me on my cell at 505.750.1846 if you want to work with a Realtor who is familiar with Real Estate in Northwest Albuquerque and Rio Rancho.

Here is my Ventana Ranch (Area 120) Real Estate Report for January 2010. Area 120 encompasses Ventana Ranch, Ventana Ranch West, La Scala, Vittoria, Rio Vista, Seville, Paradise Skies, Los Suenos, Sundance Estates and all other Albuquerque listings west of Unser Blvd, North of Paseo del Norte and south of the border with Rio Rancho.

The graph represents a 6 year history of the total number of January closed sales. 2010 sales did not increase over 2009 closed sales.

This graph represents a 6 year history of the average home sales price in the month of January. Average home prices continue their decline in Ventana Ranch.

 90 Day Forecast

Buyers are very active right now. Visits and property searched on my websites are up like it was springtime. Buyers who feel they almost missed their chance to get their $8,000 first time home buyer tax credit are determined to not let it happen again.

Let's not forget how strong sales were in September, October and November. Of course it got extended, but I believe sales will follow a similar pattern again in April, May and June when the current extension expires. Then activity will probably plummet when it's over.

It's important to understand local market conditions when you are looking to buy or sell. When you hear real estate news on the television remember that market conditions can vary greatly from state to state, city to city and neighborhood to neighborhood. Contact me if you'd like to receive a free market analysis for your current home.

Please call me on my cell at 505.750.1846 if you want to work with a Realtor who is familiar with Real Estate in Northwest Albuquerque and Rio Rancho.

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Here is the most recent sales report from the Greater Albuquerque Association of Realtors. The news in mixed, the number of January sales are up year-to-date but the average and median sales prices are down slightly.

Check back over the next few days, I'll be posting my Ventana Ranch, Paradise Hills, Taylor Ranch and Rio Rancho Real Estate reports.

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Here is my Paradise Hills (Area 121) Real Estate Report for December 2009.  Area 121 extends from Unser blvd east to Coors Blvd, Paseo del Norte north the Rio Rancho/Albuquerque Border and includes these neighborhoods: Stonebridge, Paradise Heights, Seven Bar, Paradise Meadows, Paradise Green, Crystal Ridge, Paradise Hills and Eagle Ridge plus others. 

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Area 121 Closed Sales

The graph represents a 5 year history of the total number of closed sales. As you can see in the graph, closed sales were up this December. 

However, the number of closed sales is still way off the peak number of sales in 2005.

This graph represents a 5 year history of the average home sales price. The dramatic increase in sales price is surprising, and might just be an anomoly

90 Day Forecast

Buyers are very active right now. Visits and property searched on my websites are up like it was May or June. Buyers who feel they almost missed their chance to get their $8,000 first time home buyer tax credit are determined to not let it happen again.

Let's not forget how strong sales were in September, October and November. Then look how the numbers crashed in December when buyers thought the credit would be gone. Of course it got extended, but I believe sales will follow a similar pattern again in April, May and June when the current extension expires. Then activity will probably plummet when it's over.

It's important to understand local market conditions when you are looking to buy or sell. When you hear real estate news on the television remember that market conditions can vary greatly from state to state, city to city and neighborhood to neighborhood. Contact me if you'd like to receive a free market analysis for your current home.

Please call me on my cell at 505.750.1846 if you want to work with a Realtor who is familiar with Real Estate in Northwest Albuquerque and Rio Rancho.

Here is my Ventana Ranch (Area 120) Real Estate Report for December. Area 120 encompasses Ventana Ranch,  Ventana Ranch West, La Scala, Vittoria, Rio Vista, Seville, Paradise Skies, Los Suenos, Sundance Estates and all other Albuquerque listings west of Unser Blvd, north of Paseo Del Norte and south of the Rio Rancho border.

Area 120 Closed Sales

The graph represents a 5 year history of the total number of December closed sales. As you can see in the graph, the number of closed sales was still as slow as in 2008.

Closed sales are still dramatically off the peak number of sales in 2005.

This graph represents a 5 year history of the average home sales price.There has not been any improvement in average sales prices.

90 Day Forecast

Buyers are very active right now. Visits and property searched on my websites are up like it was May or June. Buyers who feel they almost missed their chance to get their $8,000 first time home buyer tax credit are determined to not let it happen again.

Let's not forget how strong sales were in September, October and November. Then look how the numbers crashed in December when buyers thought the credit would be gone. Of course it got extended, but I believe sales will follow a similar pattern again in April, May and June when the current extension expires. Then activity will probably plummet when it's over.

It's important to understand local market conditions when you are looking to buy or sell. When you hear real estate news on the television remember that market conditions can vary greatly from state to state, city to city and neighborhood to neighborhood. Contact me if you'd like to receive a free market analysis for your current home.

Please call me on my cell at 505.750.1846 if you want to work with a Realtor who is familiar with Real Estate in Northwest Albuquerque and Rio Rancho.

Search Ventana Ranch Homes for Sale

Here is the latest of the monthly market report from the Greater Albuquerque Association of Realtors (GAAR).

That's a pretty cool report, don't you think?

They say real estate is local. I say that it is hyper-local. Not only is the Albuquerque market different from the Chicago market, it's different than the Santa Fe market too. Sales numbers and average sales prices vary from neighborhood to neighborhood in Albuquerque too. So while general Albuquerque real estate market numbers are helpful in understanding the trend of the market as a whole, it's only a start to understanding market conditions in your neighborhood.

I read some interesting facts today from the Greater Albuquerque Association of Realtors.

Of the 4340 or so active Realtors last year:

• 2,470 closed 1 to 4 transactions
• 1067 closed 5 to 9 transactions
• 515 closed 10 to 14 transactions
• 264 closed  15 or more transactions

Here's how that breaks down percentage-wise:

• 57% of local Realtors only sold 1-4 homes last year.
• 25% of local Realtors only sold 5-9 homes last year.
• 12% of local Realtors only sold 10 to 14 homes last year.
• Only 6% of local Realtors sold more than 15 homes.

Do you know where your Realtor stands? Are they in the top 5% of Albuquerque/Rio Rancho Realtors? With 18 homes sold last year I am!


Who would you want to use to help you buy or sell your next home?

• Your distant cousin who sells 2 or 3 houses every year
• Your bosses wife who sells even fewer, or
• A dedicated, experienced Realtor who is in the top 5% of Albuquerque/Rio Rancho Realtors?

I think you deserve the best representation you can get! Buying or selling a home in Albuquerque, Rio Rancho, Corrales, Placitas or anywhere else is serious business. It is not for part-time Realtors!

Call me at (505) 750-1846 or email me today and let's get started buying or selling!

If you haven't already seen it you should go to the HGTV Website and watch the Building the HGTV Dream Home 2010 Videos.

There are 12 video segments on Hardscaping, windows, radiant floor heating, flat roofs, Pueblo design and more.

There's also some absolutely stunning photos of New Mexico.

You might also want to check out their Green Building page.

HGTV's website is pretty cool. There's a ton of information there for you to check out.

Do you want to search for Rio Rancho NM Homes for Sale?  

If you are considering buying a Rio Rancho Home you need to understand current Rio Rancho Real Estate Market trends to make sure you don't overpay for your new home. To help you understand what the real estate market is doing I publish monthly Rio Rancho Real Estate Reports.  

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November was another good month for the Rio Rancho Real Estate Market.

This graph illustrates that the number of closed sales for detached homes in November 2009 (114) were a significant increase over the number of closed sales in November 2008 (74). This is a 54% increase. November 2009 sales were the strongest since 2006.

The drastic increase in November closed sales is most likely due to the rush of first time home buyers who were trying to close before November 30 so they could qualify for the $8,000 tax credit.

The average sales price declined from $201,630 to $190,612, a 5% decrease.

In November we had another YTD increase in the number of closed sales, yet the average sales price continued to decline. I think we will continue to see prices lag behind sales for quite some time. It may take several more years for prices to recover.

With a large tax incentive in place stimulating the number of sales and the avergae sale prices still declining it's premature to suggest the housing market is recovering. I would say instead that the housing market in Rio Rancho is reacting to the first time home buyer tax credit. 

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Do you want to search for Albuquerque Metro Real Estate?  

If you are considering buying an Albuquerque Home you need to understand current Albuquerque Real Estate Market trends to make sure you don't overpay for your new home. To help you understand what the real estate market is doing I publish monthly  Albuquerque Real Estate Reports.  

Search Albuquerque Metro Real Estate

November was another good month for the Albuquerque Real Estate Market.

This graph illustrates that the number of closed sales in November 2009 (518) were a significant increase over the number of closed sales in November 2008 (342). This is a 51% increase. November 2009 sales were the strongest since 2006.

In fact, this is the fourth consecutive month when the number of closed sales increased over the same month in 2008.

The drastic increase in November closed sales is most likely due to the rush of first time home buyers who were trying to close before November 30 so they could qualify for the $8,000 tax credit.

At $210,044 the average sales price stayed virtually the same as last month (Average sales price in October was $210,137),

In November we had another YTD increase in the number of closed sales, yet the average sales price remains flat. The increase in sales over last year is a result of the first time home buyer tax credit. With a large tax incentive in place I think it is premature to suggest the housing market is recovering. I would say instead that the housing market in Albuqeruqe is reacting to the first time home buyer tax credit. 

Search Albuquerque Metro Real Estate

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