We are, unbelievably, almost at the half way mark in 2016 and we're still enjoying ultra low mortgage rates.This week, following disappointing job data, in particular, rates fell to very near the best levels we have seen all year.The background story to what's happened to rates this week is bound to increase speculation on their future direction, as there are now a number of variables in play that could see them drop even further.Today's news that job creation remains weak, despite a low unemployment rate of 4.7%, will do nothing for the confidence of investors. May saw the lowest level of job gains since September 2010 and gains over the past quarter are near half of average monthly gains over the previous 12 months. Even the decline in overall unemployment by 0.3% was almost entirely ... 06/09/2016

When selling anything, it's a great idea to really know how your customer is thinking. Real estate is definitely a field where buyers invariably have extremely strong opinions about what they like, and don't like, about a home.It therefore makes total sense to consider some of the key aspects that buyers will focus on when they are viewing a property:Condition - Clearly, the physical condition of the home, especially that first impression on the driveway, goes a long way to setting the tone for the whole viewing. The trick here is to simply leave nothing to chance, with a thoroughly well decorated and maintained property with a meticulously staged interior.Problems - It's been said that for every fault a buyer identifies during a viewing, there will be an assumption of several more issu... 05/31/2016

We hope you have noticed that our website has been gradually acquiring a broader set of features to serve you better.So, we thought, why not point out some of the more recent developments, so you can check them out for yourself if you haven't already done so (click on the subject titles to go to the relevant page).Video Tours - We're very committed to video tours of our listings and you may have noticed that we've just started to use drone cameras, which offer a spectacular and informative perspective of larger property, in particular.Market Video Reports - We now offer five regularly updated video market reports for the following areas - Albuquerque, Rio Rancho, Placitas, Corrales and Valencia County.Real Estate Advice Videos - These useful short films address key subjects relating to ... 05/27/2016

At Everest Peak Realty, we are totally committed to the importance of great photography in selling property.Too often, we still see great property offers severely compromised because the agent simply went out with his/her mobile phone and took a few snaps. This is just unacceptable in this day and age and can be very serious in terms of how it can badly affect viewing numbers etc.All our listings are marketed using exceptional professional photography. This enables visitors to this website, and many other online outlets, to see your home in, quite literally, its very best light.We even take things a major stage forward from there and produce a professionally edited video tour of each property, specifically shot on location for this purpose.Last week, and as featured in Friday's blog, we... 05/25/2016

An important change in the way credit reports are compiled is due to launch on June 25th.New trended credit data reporting was initially announced last fall by The Federal National Mortgage Association (FNMA), better known as Fannie Mae, the government-sponsored, leading source of financing for mortgage lenders.Now just a few weeks away from launch, the new data will dig deeper than ever before into a mortgage applicant's credit history to provide a more thorough analysis.Current credit reports used in mortgage lending only indicate outstanding balances and if a borrower has been on time or delinquent on existing credit accounts, including credit cards and student loans.The new trended data will provide a much more in depth analysis of borrower behavior, by providing access to monthly p... 05/17/2016

It is, of course, nothing but an absolute pleasure to be able to reflect the exceptional Albuquerque area home market conditions in this blog week after week.This does not mean to say, however, that all sellers are instantly successful.When buyer sentiment is as good as it is right now, there are always identifiable reasons why a home remains on the market much longer than the currently low average of around 57 days to sell.So we thought we'd take time today to explore some of the top reasons why you may be struggling to find the right buyer:The home is overpriced - While we're seeing fantastic levels of pending and closed homes, and asking prices are holding up extremely robustly, it's always true that, to sell, your home has to be priced correctly in the first place. Despite the advic... 05/16/2016

The latest statistics released this afternoon by the Greater Albuquerque Association of Realtors (GAAR) provide a powerful demonstration of the steady home price growth we are seeing in our local homes market.The Association points out that the median detached home price in April 2013 was $168,000 and this rose to $185,000 last month. This also represents a 4.64% year on year increase. Average sales price also showed a 3.47% improvement over the past 12 months.The April figures once again paint a very rosy general picture of current market conditions.Detached pending listings rose by 2.63% on April 2015 and last month also saw impressive 10.19% annual growth in the number of closed listings. Sales volume showed a year on year rise of 13.97%.As we saw in March, the average number of day... 05/11/2016

An article this week by The Albuquerque Journal has once again highlighted the fabulous market conditions property sellers are enjoying in the area right now.While acknowledging that inventory of available homes for sale remains tight, it describes the current situation as "a solid seller's market."The article also quotes Jon Schnoor, 2016 president of the Greater Albuquerque Association of Realtors: “If sellers have a nice home priced well in a good location, they are entertaining several offers. We haven’t really seen that many (competing buyers) in six or seven years.”Naturally, we're pleased to see such public acknowledgement of the great market we've been telling you about in this blog for quite some time now.So the obvious arising question to would-be sellers has to be what more a... 05/07/2016

Despite the best efforts of the real estate industry to strongly warn against it, we still see the occasional "Home For Sale By Owner" sign as we travel around.You naturally wouldn't expect any agent to agree with you if you decide to go for DIY selling. But what we thought might be more useful would be a list of the kind of things you'll miss out on by going solo.We think the list is compelling and are pretty sure you'll agree with us when you've read through it.So here goes:Maximized Exposure of Your Home - To stand the best chance of achieving your home sale objectives, you need to ensure that it is promoted to the widest range of potential purchasers. Only a realtor can achieve this with access to the local MLS service that effectively transmits information about your property on a ... 05/03/2016

On Tuesday we looked at the recent Greater Albuquerque Association of Realtors (GAAR) quarterly market report for January, February and March and noted that, for the first quarter since the third quarter of 2014, the number of new detached listings had increased.Given that the increase was 2.69%, we clearly aren't witnessing a sea change in the attitudes of on the fence home sellers, but nonetheless it's a positive trend with its own story and one that we should perhaps take a little more time to reflect on.In some important ways, the overall number of homes for sale in the market should have been climbing for some time. What's perhaps different about right now is that whenever we receive either monthly or quarterly local market stats these days, we see improvements right across the var... 04/29/2016

In addition to our monthly analysis of local real estate statistics generated by the Greater Albuquerque Association of Realtors (GAAR), we have now also started to look more closely at their quarterly analysis, in order to spot sustained trends by using a slightly wider lens, as it were.GAAR has just published results for the first quarter of 2016 and it makes for interesting reading.It’s great to report that there is positive news right across the six key stats in the report.While it is wonderful to note a 5.69% increase in the average sale price ($216,222) of detached homes over the same quarter in 2016, without question the standout headline on this occasion is a 2.69% increase in the number of new detached listings.In our monthly reviews of GAAR stats, we have been noting better ne... 04/26/2016

When you really sit down and think about it, entrusting your home sale with the right agent is a pretty crucial and far reaching decision.Get it wrong and it can cost you dearly and could mean your home remains unsold, or doesn't realize its true market value.To help you with the process, we thought it would be useful to let you know some of the things poorly performing agents don't want you to know about them. This should make you much better equipped in the realtor interview process.A Poor Track Record - Let's start with the most likely thing the poor performer might want to conceal from you. Every agent has access to quite detailed performance statistics so the first thing you should want to know is exactly how his/her sales performance compares with the other agents you're interview... 04/22/2016

We keep saying it, but this really is a great time to buy a home.Whether it's your first home, or you're upgrading, or even if you're planning to downsize, there are some quite compelling reasons why you might not want to put off your purchase any longer:Ultra-Low Mortgage Rates - As we wrote in last Friday's blog, where mortgage rates are at right now defies all the predictions of experts, going into 2016. Last week saw the lowest rates of the year and, the way things have been going, it wouldn't surprise us at all if we hit another record low some time very, very soon. This is, of course, great news with the spring home buying season in full swing. The question that no-one can answer, of course, is how much longer the stars can keep aligned for these incredible rates. Yes, as we just ... 04/19/2016

What a wild ride! - mortgage rates continue to tumble.Given that there were widespread expert predictions at the end of 2015 that rates would progressively climb to somewhere between 4.5% and 4.65% during this year, the contrasting story of mortgage rates so far in 2016 is already remarkable by any standards. This week saw yet another very notable milestone reached. In our Tuesday blog we mentioned a CNBC article that suggested that even lower rates might be on the way. By yesterday Reuters was reporting that the 30 year rate was now at its lowest in nearly three years!What an amazing turn of events.Of course the question that will be on the minds of many right now is will rates fall even further?, as was hinted at in the CNBC article. The wiser strategy, however, is to take the positio... 04/15/2016

Statistics for March, just published by the Greater Albuquerque Association of Realtors (GAAR), make great reading for home sellers in the area, as the busiest months of the real estate year approach.Compared with a year ago, the average number of days a home is on the market before it sells decreased by 17.33% in March. It now takes an average of 62 days to sell a detached home in the area, where twelve months prior the average sat at 75 days. A significant fall.This is another strong indicator of buyer enthusiasm, as low mortgage rates continue to inform and positively influence the market. Just yesterday, CNBC reported that 30 year home loans are now at their lowest interest rate level this year, with some stronger recent signs that they could fall even further!High demand continues ... 04/12/2016

With winter now well and truly behind us, we can all now look forward to the warmer months to come.It's a great time, however, to make some simple checks around the home so that everything is set well in advance of summer.And of course if you're planning to sell your home soon, there's even more good reason for sorting everything out now.OK, here goes:Outside Faucets/Sprinklers - Check these for any winter damage due to freezing temperatures etc.A/C units - An annual service now will ensure everything is working right for when you need cool air the most. It also ensures optimum energy efficiency too!Swimming pools - Unless you hire someone to fully maintain it ( a great idea), there will very likely be plenty to do in advance of using your pool again. Winter covers need to be removed wi... 04/08/2016

 It's never very long before we revisit the subject of renting on these blog pages.This is because we are firmly of the view that if ever there was a time to make the leap into home ownership it is right now.And the key reason we say this inevitably brings us to perhaps our most covered subject in Everest Peak blogs - mortgage rates.Comments last week by Fed Chair Janet Yellen suggested that the US economy, for all its current signs of health, is still vulnerable to volatility in other markets. This was seen by investors as a somewhat cautious stance, with the effect that mortgage rates have since continued to edge lower, in a year to date when their anticipated gradual rise has not been seen at all.What this effectively means is that there is now more confidence that rates will stay lo... 04/07/2016

Right now is a really great time for investing in property, so what better way to conclude our mini-series of retrospective blogs looking back at our all-time best tips for investors.So here goes:Stick to the figures - Investment is very much about cold assessment of the facts in front of you. Property values, interest rates, the going rate for rentals in the area of the property, as well as likely ongoing maintenance costs all need to factor in your thinking. If the sums add up in your favor, it's probably the right move. If they don't, well you need to think very seriously before taking the plunge. Of course, there may be external factors, such as future development of the area you are investing in, that won't show up on a spreadsheet. That's part of the art of investment, of course, ... 04/01/2016

We hope you had a great Easter. Just prior to the holiday, we began a little mini-series of retrospective blogs looking back at our all-time best tips.Today we're going to focus on what we think are the most essential pieces of advice we've ever offered sellers:Don't put off selling your home - In recent times, it's been our distinct pleasure to reflect on the growth in the Albuquerque area real estate market. On the fence sellers may therefore take the view that playing a waiting game for a few months, or even a year, will yield even better returns. Unfortunately, there are no guarantees that the perfect storm we're seeing at the moment - low mortgage rates, low down payment home loans and low inventory of available homes driving up prices due to higher demand than supply - will contin... 03/29/2016

We naturally hope that you are a regular reader of our blog.Depending on when you started reading it, and how often you read it of course, you might have missed some great nuggets of useful information along the way.So we thought what could be better than to go back through the archives and find some really great pieces of advice that some of you may not have seen.Starting today with buyers, here are our greatest tips for you:Work on your credit score right now - A low credit score means you're very unlikely to get a home loan. The better your score, however, the more likely it is that you will qualify for the very best rates. You therefore really need to focus on doing everything you can to improve your score. This means reducing what you owe on credit cards and paying off other debts ... 03/25/2016