Rich Cederberg's Albuquerque Real Estate Blog

Here is my Paradise Hills (Area 121) Real Estate Report for February 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 5 year history of the total number of closed sales in the month of February.

This graph represents a 5 year history of the average home sales price in the month of February.

The SP/LP ratio shows that even though inventory is high and sale are low, that most houses are still selling for very close to lost price. Right now houses in Paradise Hills are selling for 4% below lost price on average. This chart busts two myths: 1) low-ball offers work , and 2) buyers will just offer significantly less than list price on a home that's overpriced. Buyers rarley make offers on overpriced homes.

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 as the current extension nears expiration. Activity may plummet after that.

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 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. 

Search Albuquerque NM Three Bedroom Houses

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 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.