Podcast – Albuquerque Real Estate Talk Radio for June 20, 2015

Albuquerque Real Estate Radio June 20


The Albuquerque Real Estate Talk Radio show for June 20, 2015. All about “The Carlisle”, a luxury condo project coming to Nob Hill and the changing housing demographics.

Albuquerque Real Estate Talk Radio – June 6, 2015

Albuquerque Real Estate Talk Radio – June 6, 2015

Eddy:​Am 1600, KIVA; 95.9 FM. Brand new fox news ABQ here on 95.9 and 1600 and worldwide@abq.fm and yeah, not just anybody, it’s Tego and Tracy. And this is the weekend Albuquerque Real Estate.

​And Tego and Tracy have done plenty of stuff for me, in now both personally and professionally and they’re just great people and they’re doing a lot of things here in this community. I can’t thank them enough and you hear there at all the time and let’s give a warm welcome to Tego and Tracy. Good morning guys!

Tego:​Wow! What an introduction there Eddy.

Eddy:​Well, you guys are great! We appreciate that.

Tracy:​Good morning.

Tego:​Well, we appreciate this platform and you know, real estate affects everybody so much, everything. I mean most people even if they are a renter, real estate is so important. Obviously, one of the basic needs of mankind is shelter and so… I know we’re getting pretty deep here.

Tracy:​We? You!

Tego:​Okay, I am! This Tego Venturi with the Venturi Team and Keller Williams Realty. We’re here every week with myself and Tracy Venturi whose been chiming in here. And, how is it going Tracy?

Tracy:​Well…

Tego:​It has been busy right?

Tracy:​It has been. It’s been a great week for real estate and meeting lots of new people which is always fun…

Eddy:​Yeah.

Tracy:​And we love to come together to see Eddy and doer radio show. So we really appreciate the opportunity.

Eddy:​I want to ask you one quick question before we get started. Last week one of the things that stood out in my mind was the fact that there had been and if you can restate that fact again because this a hot real estate market. Let’s say that, right?

​It’s currently a hot real estate market; hotter than it’s been. It can always get better, right?

Tracy:​Hotter than 7 years.

Eddy:​Yeah.

Tracy:​In 7 years.

Eddy:​Hottest in 7 years.

Tracy:​We don’t need that big long description of…

Tego:​Okay, come on!

Eddy:​Because it totally stood out to me and I said, “There’s more houses that sold this Spring.”

Tego:​Yeah.

Eddy: ​Tego as you said than have sold in…

Tego:​Seven years.

Eddy:​Wow!

Tego:​Since 2007 basically.

Eddy:​Yeah.

Tego:​The last time we’ve seen this many units or homes selling. I hate units, it sound so impersonal but that’s what it is. It’s a number of homes sold.

​We just finished May. Now, we have the May statistics and we were up 10% in number of home of homes sold, this year May versus last year May.

Eddy:​You are…

Tego:​Actually I take that back goes 11; it was actually 10% year today versus last year. And so, there’s less homes in the market. There are more buyers in the market. Obviously, there are more homes selling a good 10% bumps.

​You know, there’s some increase. There’re some frustrations are too, right Tracy?

Tracy:​There are! There are some neighbourhoods and some price points where we’re not seeing quite the activity. So with our hearing the news that things are really good and the market is hot and more homes are selling, however they’re not getting the numbers of showings and things and they’re not getting offers on their house. So it can be frustrating when they see the news.

Tego:​Yeah. And speaking of the news; there was a journal article here this week. The headline was this was Richard Medcalf from The Journal, who is a real estate reporter over there and he does a good. He had an article here a couple of weeks ago, week so or ago and I think he does fair reporting because it’s local as oppose to sometimes they’ll pull in those national stories that don’t really to us regarding real estate.

​But this one, he had some statistics from a company called Core Logic which is kind of a national real estate trend tracking. They’re saying that 3 1/2% gain in home prices which I just haven’t seen this. I don’t know how they’re coming up with that number versus last April, as the way you read it.

​I mean, what I’ve seen in some other statistics or some others stores like FHA or what is it Tracy? The FHFA, who tracks. And they’re saying about 3% but I think if we say 3% gain year over year is kind of what we’re in right now, as it what it looks like.

Tracy:​Yeah. Three percent is what’s healthy. If you look back 50 years in our market, 3% a year is sort of where we’ve been at.

Tego:​Yeah.

Tracy:​And it’s a nice healthy steady gain.

Tego:​And of course we don’t see that month to month, because it’s a very slow appreciation. And one thing we have seen Tracy is homes are getting listed for sale. The increase in that list prices have gone up dramatically, not necessarily the sale prices.

Tracy:​Right. And I think some of that is when you see headlines and you don’t read the fine print sort of. The headlines are the market’s great and people translate that into prices but maybe its home selling versus prices.

Tego:​Yeah. I wanted to teach something because we’re going talk about Home Owners Association. I think there some confusions are Home Owners Association’s what they do versus Covenants, Conditions and Restrictions or what we call CC&Rs. And we’ll talk about that a little later.

​Back to market data, one thing, one real bright spot is the bank properties also known as foreclosures, also known as real estate owned or REO property. Basically they’re homes that were foreclose in one way or another, came back on the market by the bank. This month or the May stat that 12% was the number of those properties on the market versus we seen as high. You know, we’re up at 30%, but this by far the lowest we seen in many, many, many years.

Tracy:​Yeah. It’s great.

Tego:​That’s a good sign because that also helps in stabilizing prices.

Tracy:​It does and you know what we found when there were a lot of distressed homes on the market, the regular sellers had to compete.

Tego:​Yeah. And there’re lots and lots and in just certain extent it’s very regionalize in certain parts of town.

Tracy:​Yup. So one other thing we want to talk about besides home owners Associations, Covenants, Conditions and Restrictions or CC&Rs is appraisals. And just to cover it a little bit about what we’re seeing in the appraisal world.

Tego:​So let’s go right into that one. I know we didn’t even list off our topics here. We’re just jumping right into them.

Eddy:​That’s okay. We’re just following right along.

Tego:​Oh, yeah sure.

Eddy:​No, really. I wanted to say one thing before we start on the appraisal portion. By the way, this is Tego and Tracy Venturi, the Venturi Team. It’s Keller Williams Realty here in each every week, starting the real estate hour.

​There’s a story in the Portland and they’re actually giving away pizzas now in order to try… it was kind of side story, right? And the side story was that there’s only X amount of months of inventory left because of the huge traction they’re getting.

Tego:​Yeah.

Eddy:​Four and a half months they said of all the inventory they have left in Portland, Oregon. And I thought, Portland always been a city that’s compared to Albuquerque in so many ways and I just thought that that I haven’t heard a story like that literally in years. And I’m just glad to hear some worthy country where there’s only that much inventory left in the market.

Tego:​Texas manages. It’s booming in Texas. Even Denver is right up in the streets from us. They’re booming. And they just don’t have enough homes to sell. There are more buyers than homes available.

Tracy:​And in Miami, those million dollar houses are flying off the shelves. Those 3 to 5 million aren’t but there’s still selling at it. Okay pace but they’re saying if it’s a million, two and under, they’re getting multiple offers.

Eddy:​Wow! Looks exciting.

Tego:​Yeah. And it’s interesting because I’ve looked at some of the stats, We look at like when we peaked out in Albuquerque, our market peaked out in May of 2007. That’s when we hit the highest prices we’d ever seen.

​However the entire country peaked out in May of 2006. So, if you look at it that way, we’re basically a year behind the rest of the country in many ways. And we see that in a lot of things, right Eddy? I mean, not just real estate.

Eddy:​Yeah.

Tego:​We see that many other things.

Eddy:​Right.

Tego:​And nothing’s wrong with that. We’re the land of the Miñata. We’re okay with that, right?

Eddy:​Yeah, we’re okay. We make it work here.

Tego:​​Yeah, yeah.​

Eddy:​And we can anticipate the things that are coming here too.

Tracy:​Exactly!

Tego:​Exactly!

Tracy:​We pay attention.

Tego:​You know, last year a lot of the country had a lot of… you know, it’s booming like crazy. This year, we seemed to be seeing some of that as well.

​Tracy, let’s talk about appraisals. This comes up all the time. Obviously, any each time a piece of property changes ownership, in most case is you’re going to have an appraisal. If there’s a loan on it, you absolutely are going to have an appraisal. If it’s a cash sale, you won’t necessarily have to have an appraisal. But, what is an appraisal? Why do we get it done?

Tracy:​An appraisal is for the lender typically. So that somebody’s got the eyes and ears for the lender to say, “Yup, that’s a good loan to make.” Because the lender’s not going to go out and inspect the property themselves.

​They might be underwritten in California, even if you’re doing it locally. They’ve got the appraisal process there that’s a third-party independent that goes in and says, “Yup. This house is worth what you’re buying it for.” Well, which brings up another subject.

​A lot of people think it’s a shot in the dark that the lender doesn’t know how much the house is being sold for. Well, of course they know. They’re given the contract and all of their doing is saying, “Okay. This house is schedule to close for this amount. Let me look and see if that’s justified and I’ll tell the lender.

Tego:​In general, they use the comparable method, correct? So they go back three months, similar homes in that neighbourhood, that area and then they make adjustments up and down based on square footage, amenities and stuff like that.

Tracy:​Exactly. And the rebuild cost isn’t usually the method. We know that typically and it probably be more?

Tego:​You mean what you paid for isn’t how they come up with that?

Tracy:​No.

Tego:​Yeah. And that’s first trade-in thing for home owners; like what you paid for it, unfortunately doesn’t matter. It wouldn’t matters for as what somebody’s willing to pay for it as well as what the appraisal can show that other people have paid for similar type properties, right?

Tracy:​Yeah. What’s reasonable and what the lender would feel construable making a loan on.

Tego:​Yeah.

Tracy:​it’s good but the one thing that I wanted to bring up in addition is we have been having some appraisal problems for our home sellers.

Tego:​And I put this way. You know, the appraisal generally is looking backwards. And, nothing against appraisals understands. They have a very difficult job to do.

​They have very strict guidelines on what they can do. Obviously, with everything imploding in 2008. The appraisal guidelines got very strict and there’s a lot of over sight in that world. And that makes sense, right?

​You know, large sums of money being loan. However, they have to look backwards and they only have to look at what things have sold. They can’t necessarily look out. Well, there’re five other homes on the market that are higher than this price but they can’t use it. They can’t use that to justify the price.

Tracy:​They can’t! But I have seen sometimes where they’re putting active listings in an appraisal in situations where they aren’t enough houses within a one mile radius or whatever their criteria is. I know they can expand their criteria. They have to.

Tego:​​Yeah.​

Tracy:​But, yeah.

Tego:​So Tracy when we come back we are going to talk about the Home Owners Associations. I know there’s kind of some pluses and minuses to Home Owners Association. We got a home on the week right?

Tracy:​We do!

Tego:​You want to tease that right now?

Tracy:​Oh, we got a great house in Ocotillo. We’re going talk about.

Tego:​Ocotillo! And Ocotillo is up off Paseo Del Norte in North Albuquerque acres area.

Tracy:​Yup.

Tego:​Tune-in in here. We’re going to take a break. This is Albuquerque Real Estate Talk. We’ll be right back.

Eddy:​Am 1600, KIVA; 95.9 FM. This is Albuquerque Real Estate Talk with Tego and Tracy Venturi, the Venturi Team from Keller Williams Realty.

Tego:​Eddy, thank you. This is Tego Venturi with the Venturi Team. And we got right to so many topics; we didn’t talk about how to get hold of us. So if do want to get hold of us, Talk Real Estate, our realtor on duty line is in Albuquerque 505-933-6881. We also have that as a toll free number at 855-933-6881. And our website Tracy is…

Tracy:​Our website which is really useful. It has great search tools is welcomehomeabq.com but what we know is most people just Google our names and they find our website.

Tego:​Yes, we do. Eddy, you know all about Google Analytics and we’re tracking in all that fun stuff. Yup, yup, yup!

Eddy:​Yeah. It’s not just the future. The future has arrived, it’s here.

Tego:​It is here, for sure. So, yeah. We really spend a lot of time in the website to make a very useful resource for folks looking for homes, looking for market values, looking for what is the home down the street, the listed for sale for.

Tracy:​Yup, absolutely.

Tego:​Tracy, we we’re talking about appraisals and valuations and valuation problems. Tell me which you meant by that.

Tracy:​Sure. We are seeing some of the houses we were get an accepted offer with the buyers willing to pay and the appraisal is coming in lower than what the agreed upon sales prices.

Tego:​Why does that happen?

Tracy:​Well, for the reasons you said earlier, where they’re looking at past data and if the home prices are kind of edging up towards a little bit. They’re looking at past sales and that’s what they have to look at to justify the price. So it’s really hard for prices to go up quickly because the past sales are what the appraisers are looking at.

Tego:​Right. And so what happens when you’re a seller or your buyer, put them on both sides in the appraisals comes in low. What happens?

Tracy:​Yeah. There’re four or five things that can happen as possible outcomes so to speak. So the seller can agree to sell at the appraised price. The buyer can agree to bring money in to pay for the difference to buy at the purchase price that was previously agreed upon. Buyer and seller can meet somewhere in the middle. The deal can fall apart and people can go their own ways.

Tego:​And one of the things in our contract that we use here in New Mexico, it does have standard language about that that basically, if the appraisal doesn’t match the contract price there’s basically an out option for the buyer or a new renegotiate option for all the parties involved, correct?

Tracy:​Exactly!

Tego:​Yeah.

Tracy:​Yup. We see it happening variety of ways because as the market is increasing a little bit in prices, buyers are willing to pay that new price and they are willing to pay the different between…

Tego:​Right. Because when a buyer is out looking for home, they’re not looking out what stuff sold for, they’re looking out with this are for sale for. And so they are comparing to whatever else’s available for them to purchase, correct?

Tracy:​Right. And they’re saying, “Hey, this was the nicest house out there and it’s worth what they’re asking or what we agree upon.” It’s interesting because we had [00:15:13:17] we put on the market in the Northeast, kind of by Trader Joe’s off for sale by the week and a half ago or less and we have three offers that we’re working at this moment on it.

​That house we’ve said is hard to find. Four hundred and twenty five thousand, a very nice high-end, executive type home. But, you know right now, we’re going. There’s not a lot of camps…

Tego:​Yeah.

Tracy:​So we have to justify the price.

Tego:​Sure. That’s one thing, again, that’s part of what we do as realtors; is we work through all these issues, right?

Tracy:​We do. And what we know is that house that can’t find it anywhere else.

Tego:​Yeah.

Tracy:​If there were 20 of them for sale right now, we wouldn’t have three offers.

Tego:​Be a different story. So, okay Tracy, let’s segway into this whole Home Owners Association. Questions came up this week. We had a client where they ask, “Hey! Is there a Home Owners Association here?” And we said, “No, there’s no Home Owners Association in this neighbourhood.”

​That’s part of the disclosure process when you’re purchasing a home; if it’s a Home Owners Association neighbourhood that must be disclosed. But then, once we got under contract, you know, Tyler Company does the title search, which they normally do and they sent out the CC&Rs. And they’re like, “Well, I thought there’s no Home Owners Association.” It’s like, “Well, there is not. It’s different. CC&Rs are different things.”

​The question came up; what is the difference between Covenants, Conditions and Restrictions versus a Home Owners Association?

Tracy:​That’s a great question. Almost every house we sell has some sort of Covenants, Conditions and Restrictions. Just by nature of what the city code is.

Tego:​Right. And so anytime a subdivision is put together in most cases the developer is going to record these CC&Rs as we call them Covenants, Conditions and Restrictions on that neighbourhood, correct?

Tracy:​Right. And some of it is city codes. So it says, “Walls can’t be more than 6ft on the sidewalls or the back walls. Or the height of the two-storey can’t be more than 26ft.” And I don’t know if that’s what it’s still.

Tego:​Yeah.

Tracy:​But what it used to be that.

Tego:​Yes. So you’re going to have the city zoning, right?

Tracy:​Right.

Tego:​That’s going to dictate a lot of stuff and then you’re going to have the CC&Rs, way more specific to a neighbourhood.

Tracy:​Exactly.

Tego:​And it can be stuff about chickens in your backyard, right?

Tracy:​Yeah!

Tego:​And some other stuff.

Tracy:​But, that’s a great example though. Chickens in your backyard versus having that Home Owners Association actually enforce it.

Tego:​Right.

Tracy:​Who’s going to enforce it if you have chickens and it’s in the Covenants, Conditions and Restrictions?

Tego:​Good question.

Tracy:​You can complain to the city or the village or the township or county or wherever you are located.

Tego:​What’s a Home Owners Association then? What’s their role?

Tracy:​The Home Owners Association is an association to basically enforce the covenants and restrictions of the neighbourhood.

Tego:​And then they offer additional amenities such as… let’s say you have a community swimming pool or you have a tennis court or you have some sort of facilities or you share in all the landscaping, the cost of all the landscaping in the neighbourhood or if you have a gate at your neighbourhood. Who is going to manage that? Who’s going to collect the fees to pay all for all those services?

Tracy:​Exactly. So they’re the ones that are the body that’s supposed to be representative of the Home Owners and making sure that your neighbourhood stays nice and people are taking care of things.

Tego:​Okay. So this is where we get in to the negatives and the positives about Home Owners Association, okay? Some people and we had these clients Tracy. They come to us and say, “I absolutely do not want to live in a neighbourhood with a Home Owners Association,” correct?

Tracy:​That happens a lot.

Tego:​And why do you think that is?

Tracy:​They don’t want somebody telling them their trashcan has to be off the curve by 6 o’clock on trash day.

Tego:​Correct. In most cases and correct me if I’m wrong; it’s because they’ve had a bad experience with a Home Owners or an HOA, right?

Tracy:​I would like to correct you and say you’re wrong, but no.

Tego:​Yeah. Oh, darn it, man!

Tracy:​No. That’s exactly it. They had a bad experience with a Home Owners Association just kind of dictating and they feel like it’s their house, their yard, their land. But when you look at neighbourhoods that have Home Owners Associations, I know Eddy has a neighbourhood that’s maintained and beautiful and people keep it up. And if somebody leaves the car on blocks on the side walk or on the driveway, somebody’s going to ask them to take care of that.

Tego:​To certain extent it’s more like I call it a police force but its group that going to mandate if you’re not taking care of your property, they’re going to send you a little love letter that says, “Hey! You need to pull those weeds under your front yard.” And that can be frustrating to people. But you know what? It keeps the neighbourhood looking great.

Tracy:​It does, yeah.

Tego:​Yeah.

Eddy:​I actually love it until I’m the subject of the course.

Tego:​Of course! Exactly! It’s just like anything, right?

Eddy:​Absolutely it is, right?

Tego:​Yeah.

Eddy:​Yeah.

Tego:​Yeah.

Eddy:​Like everything.

Tego:​Yeah. I want to speed until I get caught speeding.

Eddy:​I get caught, right.

Tego:​Yeah, yeah. Okay, no I don’t speed. No, I didn’t say that.

Tracy:​That’s funny. Well, I want to get to our home of the week.

Tego:​Yeah. Anyway, that was enough about Home Owners Association. What is our home of the week Tracy?

Tracy:​We have a really great house and I said it’s in the Ocotillo subdivision. Ocotillo is a small in film neighbourhood that is by Trader’s Joes, northeast to Albuquerque by the Paseo…

Tego:​And these are larger custom homes for the most part, correct?

Tracy:​Very much so.

Tego:​Yeah.

Tracy:​Yes. On smaller lots. So you know, in that North Albuquerque acres.

Tego:​Executive homes?

Tracy:​Area. And they’re not necessarily single storey, which is kind of I don’t know why I think executive of single storey…

Tego:​Yeah.

Tracy:​[00:20:58:21] Single storey because we have bad knees and backs from all the abuse we’ve taken on our bodies. So, Eddy wouldn’t know about that though, he’s still so young.

Eddy:​Yeah. Oh, you guys are nice.

Tracy:​So we have one it’s on Sand Verbena Trail and it’s in that gated Ocotillo neighbourhood that’s in Paseo Boulevard and it’s a single storey with four bedrooms, plus an office and it was built by Panorama Homes.

Eddy:​If you’ve ever done parades over the last, parade of homes, over the last 10 years, you’ve probably seen a Panorama Home. They do a great job.

Tracy:​They’re beautiful constructions; great to work with. If you’re looking to build a house, we can find that great builder like Panorama Homes.

​Anyways, it’s 3500 sq. ft. It’s listed for $690,000, beautiful single storey, really great layout with a really plush master, backyard is very manageable. It had a nice little water feature.

Tego:​Well, that’s a really good point because you can get the big lot, you can go North Albuquerque Acres and get that almost an acre but then you got to take care of it, right? In many times, it’s like having that nice larger home, executive home, custom details, but yet not having that huge lot that have to take care off, right?

Tracy:​Correct. And this is house is in an HOA.

Tego:​Yeah.

Tracy:​And the HOA in this case pays for… you may pay in and its $40 a month which is really cheap, you go to big cities and a $40 HOA is non-existent. But its $40 and it’s gated. So they care of the gate and all the common areas.

Tego:​Again, tell us the address and the price again.

Tracy: ​Sure. It’s 10004 Sand Verbena Trail…

Tego:​Northeast?

Tracy:​Northeast.

Tego:​Yeah?

Tracy:​Yeah. So Google it. Go to our website and take a look at it. It’s $690,000. We’d love to show it to you.

Tego:​Yeah. If you want to call us on that or anything else real estate related, we are at 505-933-6881 and then our website is welcomehomeabq.com. If you go to the homepage, there is a place that shows all our featured homes which are all the homes that we represent.

​You know, we have one cool thing on our website I want to mention. We have “Real Time” Just Listed, right on our homepage. And what that means as new homes come on the market, they are displayed there and it’s maybe at most to 15-minute delay from when somebody enters a new MOS…

Eddy:​Wow!

Tego:​Until it ends up in our website. So if you’re one of those people that like to kind of view the latest and greatest, we got it right there, welcomehomeabq.com.

Eddy:​Edge there Tego. We can just hangi in your new website at welcomehomeabq

Tego:​Yeah. We sit there all day and watch all the new homes come in to the market.

Eddy:​Alright Tego. We’ll see you again next week. Thank you both for being here. And this is been ABQ Real Estate Talk, back again with Tego and Tracy next week. Up next, Ward Arnold.

Albuquerque Real Estate Radio Replay – May 9 2015

abq.fm

On this weeks show. April 2015 housing market update, first time home buyer question, the in’s and out’s of surveys, and more.

 
Albuquerque Real Estate Talk Radio – May 9, 2015

Tego Venturi: Welcome to Small Business Saturdays and Albuquerque Real Estate Talk here on KIVA Radio 95.9 FM/AM 1600. I love our new bumper music. That’s pretty sweet there. Our producer and Henry Diaz also the afternoon host here with the Rock of Talk. I kind of like that new bumper music.
Henry Diaz: I like it.
Tego: Help for Real Estate.
Henry: Real estate. And that’s what we do every Saturday here at Fox News Radio 95.9 FM/AM 1600 KIVA.
Tego: Fox News Radio. I got to get used to that. That’s great. You got a great, Eddy put together a great line up here now. Anyway, this is Tego Venturi with the Venturi Team Keller Williams Realty. I’m joined by Tracy Venturi, like always, talking real estate here in the Albuquerque area and what’s going on in our market. We just finished April. So, Tracy what are we’ve got on the list today of things we’re going to hit on?
Tracy Venturi: Well, good morning everybody.
Henry: Good morning.
Tracy: Yeah, hi. We were in San Diego last weekend. It was awesome meeting with other top realtors from actually international. Lot of heavy hitters and a lot of good information on what people are experiencing in their markets and how busy they are and that type of tying. And we’re also going to talk about Kevin O’Leary Shark Tank. Mister Wonderful.
Henry: Hey, Mister Wonderful.
Tracy: Yeah. He is there.
Henry: You guys got to meet him.
Tracy: We did.
Tego: Was he a speaker?
Tracy: He was.
Tego: He was a speaker and then we kind of, you do those and got a quick meet and greet kind of things. So, but that was cool. We had a two second of fame there or something like that.
Henry: There you go.
Tracy: And then we’re going to talk a little bit about surveys. Kind of nuts and bolts and maybe Tego will give us his famous market update.
Henry: Oh, yeah. We have to have that. We missed it last week. We got to get the latest and the greatest.
Tracy: Totally.
Tego: Now, we are, April is finished. So we got the latest and greatest numbers for April. And there are some pretty startling numbers coming out of the April statistics.
Okay, I’m a really kind of a real estate numbers deep guy. And something happened in April that we have not seen in a long time. And that was the number of homes that went pending in the month of April. It was up 41% versus the previous the month, the previous year same month.
Henry: Wow, that’s significant. That’s a chunk.
Tracy: It is. And listeners, pending means that it got unaccepted contract. A house that went pending sales. So, yeah, a lot of houses going under contract.
Tego: And the other thing, we talked about this last month, is that market supply has continued to decline slightly and demand is up. So, of course, you know…
Henry: Prices is going to adjust to that.
Tracy: Starting to see it.ee
Tego: It sure looks that way. And you know I think prices are definitely on the rise. You can never tell obviously when you’re in the middle of it. You know, we won’t know until later where we end up. But definitely it feels like prices are on the rise.
Tracy: And one of the things that kind of comes along with that, what we have seen is there are a few appraisal issues coming up where houses aren’t appraising because the market starting to move up a little bit. But the comparable sales aren’t there for an appraiser to say, “Yes this is the right price for that house.”
Tego: I want you to explain that Tracy how does the appraiser do that? Because they are just trying to justify that the purchase price to the bank to make the loan, correct?
Tracy: Right. And one of the things that a lot of people don’t realize is the appraiser isn’t shooting in the dark. They are given a copy of the contract. They know how much the house is selling for any concessions, any help the buyer might be getting from the seller. And all they are doing is justifying the price for the bank and say, “Yes this house is worth that much and it’s a good loan for you to make.” So it’s not shooting and fish in the barrel. It’s good.
But they have to find usually five houses that have sold within about 90-days within about a mile of the home that’s under contract that are similar size, similar features.
Henry: For comparison.
Tracy: Yeah. And so if there really isn’t any, the market 90-days ago is a little bit different than it is right now.
Henry: Really.
Tracy: So we are having a few low appraisals. We’re seeing them across our industry.
Tego: Yeah, and that’s challenging because the buyer who’s making the purchase, they feel the value is there based on other home they’ve seen. Unfortunately, the appraisers are required to use only homes that have sold to justify that price. And so there’s always going to be this lag between what the sales prices are and what the appraised price is.
Henry: And then you always have a seller who always puts the extra value on their home and their property just because it’s there as well so you had to deal with that.
Tego: Well, there is that. Not everybody’s that way.
Tracy: No, I’m dealing with that right now. And it’s a $150,000 house. It has a beautiful newer pro-panel roof which is one of those metal roofs they upgraded and they put AC in. They have rolled outs in their kitchen drawers and they are going wait the appraiser should be looking at these things. And yeah, it’s nice because most competing homes are refrigerated or they are cooling and things. But it’s still tough.
Tego: So, Tracy we had a question come up with this week and I’m going to hit you with this one was first time home buyer. We talked to a guy the other day where he is the “millennial”, you know about those Henry, right?
Henry: I know a couple of them.
Tego: Yeah. So the millennial which is the kind of under 30 crowd. Is that right? Is that the group or…
Henry: Yeah it’s like under 35. That’s the oldest millennial.
Tego: Yeah. This guy has never bought a house before and he is wanting to know, “What do I do? Where do I start? How do I decide? How do I start the process to start thinking about buying a home?”
Tracy: Well, it’s actually a much broader question because he was going, “How do I know what my credit and how do I establish credit and how do I know if I should be buying a house,” and it was like, yeah, all those questions if you haven’t done this, you don’t know, right?
Henry: Wow, yeah.
Tracy: Yeah.
Henry: That’s funny.
Tracy: So, really that’s what we do best. We know how to guide people. So what we suggest is let’s get together. Sit down. Go through how we work to buy a home? What are the different steps so the things like I don’t really know the process. And we can go through it in our office and just kind of go through these steps. And then, also we bring a lender in. They might have a great lender that they are already look with.
Tego: I’ll take this one, Tracy. Go, okay.
Henry: I got to clear my throat.
Tego: This spring has been rough, I know. Everybody’s having allergies this year. So, we have a checklist on the process that we go through or we sit down, go through and then we bring that lender. And then the lender is really a partner in the whole thing. I mean, obviously they can’t go and show houses and we can’t make a loan. And so it’s a partnership where we work together and get them in the right loan that works for them.
Henry: So you do like an orientation essentially.
Tego: Basically, a consultation, right, exactly in the course. You know the fun part is going out looking at homes, right? You know, getting on websites and looking at homes, that’s all fun and games. But there is a lot of business that has to be done to make it all work.
Tracy: Totally. Yeah. But we love it. I mean, what joy to help somebody get in their first home.
Henry: Oh, yeah. I bet.
Tracy: And a lot of people think first time home buyers are all the $150,000 to $250,000 prices. But I’ve helped people, all ages and all incomes.
Henry: All brackets in income.
Tego: I remember that couple you helped a couple of years ago, Tracy, where they were probably in their mid-fifties. They’ve been married for quite a long time and they’d never owned a house.
Tracy: Oh my gosh. I cried that.
Tego: Well, they cried, I remember.
Tracy: And they were actually older than that. They were late 60’s, early 70’s.
Tego: Oh, okay. Got it. No, mid-50’s is pretty young, right? That’s real young.
Tracy: Yeah, that’s young. Save me for that. So speaking my language. So, yeah, so we were in the house and he turned around and he had tears streaming down his face and he looked at her and he said, “Honey, we found our house.” And they had the most beautiful hug and kiss. And I was sitting there with tears streaming down my face but it was awesome.
Henry: Those moments, I mean, that’s the American dream. Right there.
Tracy: Totally. What a pleasure to work with people and experience that. I had a woman who moved from Manhattan, too. She was probably 60’s. Had never owned a home and she moved here and got a place in Corrales on the side of the hill, a very affordable home in Corrales actually and had that amazing view of the valley and the mountain. And she did the same thing. She never even thought about owning because she lived in Manhattan where yoo can get a 100 square foot for tons of money.
Henry: Totally different market.
Tracy: Yeah. So anyway. We hold hands, we got people through it and we loved it.
Henry: Excellent.
Tracy: It’s part of the joy of what we get to do.
Tego: Yeah. So we hit on this earlier. Let’s go back to here. We just had an event here in Southern California, San Diego. Very nice. Of course, when you go to those event you don’t really get to see the city. You’re in a convention center, in this case it was a hotel. And that was networking with top real estate agents around the country. And our keynote speaker this year was Kevin O’Leary from Short Tank thing.
Tracy: Mr. Wonderful.
Tego: Mr. Wonderful.
Tracy: You’re dead to me.
Tego: You’re dead to me. Yeah, he’s your favorite shark?
Henry: Yes. He’s just a sharp guy. He sets the standard, I think. But he’s not as scary in real life, huh?
Tego: No, hes’ not. He’s very, Tracy was like, “Wow. He’s very like mellow.”
Tracy: He was really gentle and soft-spoken on stage. And when we met with him, he’s just a really warm, amazing person and his wisdom is just amazing.
Henry: Of course.
Tego: He’s very strong in his sense that business is war. Business is war.
Henry: It is.
Tego: And the object is to win.
Tracy: If you don’t, you’re out of business.
Tego: And if you don’t, you’re out of business because there’s somebody else always trying to beat you. And really some good advice and I’ve got a few things here. What we can share at the next segment is he brought up what are the three things that every person who get funded on Shark Tank do?
Tracy: Have in common.
Henry: Hey, insight. I like that.
Tego: Yeah. I’ll show that here after the break. We met Barbra Corcoran last year at the same event.
Henry: I’ve seen you guys on TV for the advertisements.
Tego: We were able to connect with her. Go ahead, Tracy.
Tracy: Actually, Barbara sent a video message to all of us this past weekend and it was awesome.
Henry: Did she? Yeah. She was a realtor.
Tracy: She really knows it. Yeah, she knows it. And she has great real estate advice.
Tego: If you get on YouTube and just search her and just any of her talks and interviews that she does are just amazing. And then we were so lucky to make that connection. And now she endorses us here in Albuquerque as her choice as a real estate team in Albuquerque.
Henry: And you guys are well-deserved, you know that. I mean, one of the top real estate teams here in Albuquerque in the Metro area. So, of course that’ why you guys have Real Estate Talk every Saturday here at the Rock of Talk Fox News Business.
Tego: And if you want to get a hold of us.
Henry: There we are.
Tego: Okay. Our team, our realtor, our duty line is 933-6881. If you listen to ABQ.FM you would be hearing that commercial all the time talking about our Home of the Week in that same number 933-6881. And we’re going to take a break here.
We’ll be back we’re going to talk about Kevin O’Leary’s top three things that get Sharks, people funded on Shark Tank And then we’re going to talk about surveys and some of the issues here. So take a break, we’ll be back shortly.
Welcome back to Small Business Saturday Market Makers and Risk Takers in Albuquerque Real Estate Talk on ABQ.FM Fox News Radio. That’s right. I got to get used to the not calling it Rock of Talk. That’s your show right, Henry Diaz?
Henry: That’s right. Every afternoon.
Tego: Yeah, you guys do the afternoon show. This is Tego Venturi with the Venturi Team Keller Williams Realty and I’m joined by Tracy Venturi. And Tracy, if somebody wants to get a hold of us, reach out to us, couple of different ways, right?
Tracy: Yeah, the best way if you’re really ready to talk is give us a call. 933-6881. Sometimes Tego and I answer that phone and sometimes it’s our realtor on duty because we all take turns but we would love to talk to you.
Henry: They are there 24/7 to answer the call of help.
Tracy: Almost. It feels like it.
Tego: Some days it feels like that. We do have a team structure and network flow because we can all serve our client, take care of our clients and still have a life. Because sometimes in this business there’s people – when you’re doing everything from the paperwork to the marketing to the appointments.
Tracy: Inspection.
Tego: To radio shows, to inspections.
Tracy: Which is where I’m going next.
Henry: And the Mr. Wonderful.
Tego: And meeting Mr. Wonderful. So yeah. So I kind of tease that here before the break. We were talking about what does Mr. Wonderful from Shark Tank and he had a statistic on what is that gets people funded when they come into Shark Tank. Some guy went through.
Tracy: Yeah, somebody went through and did statistics on all of the shows and everybody that’s been in front of them and what did they have in common that these people are going to be chosen and funded by one of the Sharks. And so he put a slide up and it was three things.
Henry: So listen up folks. This is an inside baseball right here.
Tracy: What do you think it is?
Tego: So here it is. The number one thing is they must be able to articulate the opportunity in 90 seconds or less. So it’s the old elevator pitch.
Henry: Elevator pitch, yeah.
Tego: Yup. It’s you know, you got it, you got to give your message, got to give your value in that 90 seconds.
The second thing was successfully convincing the investors that they with the right team to execute the business plan. So they have to convince that everybody there in the Shark Tank that they are the right person. It can be the great idea. They can articulate it well. But if they’re not the right person they’re not going to get the funding.
Tracy: So, it’s kind of a personality thing, right? If they like you and they believe in you and they feel like you have the right passion for the business.
Tego: Right. Well, it’s just like, we’ve seen Barbra do that where she didn’t particularly care for the business but she liked the person. And she would invest in any way.
And then the last thing was you got to know your numbers. You got to know your data. You got to know what’s going on. You got to know what your competitors are going because if you come in there and fumble with your numbers you know what Kevin O’Leary is going to say, right? He’s going to say, “You’re dead to me.”
Tracy: That’s right.
Tego: Anyway, that was the interesting.
Tracy: You know what’s funny? We never heard him say, “You’re dead to me.” But everyone at the convention was saying it.
Tego: Yeah. I guess that was just the Shark Tank thing. So, anyway, we love that show and we love the new show that they’re doing now where they’re actually…
Tracy: After.
Tego: After they are going out, it’s kind of like the thing that The Profit on CMBC that show where they’re going out and help in struggling businesses.
Tracy: It’s like the after Shark Tank, what happens to them.
Henry: Six months later, that kind of deal.
Tracy: That’s fun. So Tego I know you’re always up on market stats. And you gave us a quick snap shot at the top of the hour on what the market’s been doing. But what else is interesting in real estate this month?
Tego: Well, I recorded the other day, just a market update video. I put it on our website at welcomehomeabq.com. Also on our YouTube page and Facebook page and just about every other page that I have. And it was a market update I went through it. If you want to catch it you can do that. However I’ll give you a couple different things. As I said earlier the really big highlight number for April is the number of homes that went under contracted in April. That’s a huge jump.
Tracy: Which means that a lot of them are closing in May. And that the home inspectors, the appraisers, all those people that help out in the process, they are all busy.
Tego: Everybody is busy. So what we’re finding is generally we’ll see a 30-day closing time. But you can probably expect that to be pushed out a little bit because there are so many people that are involved in that whole transaction once it gets under contract. From the home inspector, the surveyor, like Tracy said, the appraiser, the pest and termite person, the title people – they are busy.
And then the loan side, the underwriters who actually take all of that crazy documentation that you have to provide and go through it and see it their back log because that takes a long time. So we’re seeing that 30-day close may not always be realistic if there’s a lot of stuff to do because everybody’s busy.
Tracy: Or you do your paperwork quickly and get everything your lender asks you like the day they ask for it.
Tego: I always liked that. And I’m sure when you talked to the guy from Loan Star.
Henry: Oh, yeah.
Tego: A lender told me this once, and said, “If I asked you for something and I don’t get it, there is nothing happening on your file.”
Henry: That’s right.
Tego: So you better, if they ask you for something, keep it coming because it’s going to just delay the process. So that was the big thing. And the other thing is we had a 10% in the number of sold homes in April versus last year and overall for the year…
Tracy: Sold as in closed.
Henry: They closed in April.
Tego: Close.
Tracy: A lot of people moving.
Tego: Yeah.
Tracy: Think about those moving trucks all over.
Henry: That’s true.
Tego: Here I just found the other number here. Through April of this year we are 9% ahead of last year same time, the number of homes sold in the Metro Albuquerque area.
And just to give you an idea of those numbers; that was 3,140 this year versus 2,882 of last year so we have had an increase. Definitely enough to – average price, medium price, not a whole lot of movement. Like I said, it’s always difficult to gauge that when you’re in the middle of it. But I think they’re definitely is in price appreciation going on right now.
Tracy: What we know is it’s very spotty. Some neighborhoods were seeing prices go up and others were not. But the median and average don’t tell us too much because that doesn’t say what a house same house last year would have sold for versus this year same house.
Tego: I’ve got an interesting statistic. This comes up sometime. It’s like, “Okay. From the peak of the market, where are we? Or how much did we lose? Or where are we at from the peak of the market?”
And if you look at from the peak of our market which was sometime in the middle of 2007, we had a pretty substantial drop, maybe 30%. And now, we’re about 15% below those levels of 2007. So if you bought then and you’re waiting for the market to come back, you probably have a few more years.
Henry: Yes. That’s actually good news on the economy side, too. Because we don’t necessarily want to get to the levels of the financial markets that was kind of engrossing what happened during that period.
Tego: Right. Well, and Tracy, let’s tell the story about the people we talked to that are like from Frisco, Texas and Denver, Colorado and the things that are going on those markets and the real estate world right now.
Tracy: Yeah, so, we’re seeing real steady, slow recovery still or growth. They’re up the charts
Tego: Let’s call it steady, let’s not call it slow. No, it’s steady.
Tracy: They’re kind off the charts again where they put a house on the market and it’s getting 20 offers the first day, Denver and Frisco, some areas at Miami.
Henry: Frisco’s outside Dallas.
Tracy: Dallas.
Tego: Basically Dallas.
Tracy: Yeah, sorry, just happens to be that’s where the realtors are from. But you know it’s interesting and people go all. That’s great, right? And I’m like, “Oh, no.” Think if you’re as a buyer and you want to get a house and you have to compete with 19 other people for every house that comes on the market that meets your needs, then it does when people start offering higher and not contingent on appraisal. And you know, it’s a bummer. It’s nice when you have a healthy market.
Henry: So, it’s definitely trend in seller’s market now.
Tego: In those areas for sure. There are markets, I would say yes at certain parts of towns, certain prices we are in the seller’s market. It’s very limited though. Neighborhood to neighborhood, price point to price point. You know, higher end is still kind of slow. We looked at the numbers earlier. Over a million where we had nine sell this year versus six last year.
Tracy: Year to date.
Tego: Year of the day. So I mean, what is that? That’s a 30% job. But yeah, it’s only three more houses.
Henry: Right.
Tracy: But that’s great.
Henry: Right. In context, but yeah.
Tego: But it is good. You know, we wanted to hit on just in the last section here, surveys. And we had a training session in our office the other day, Tracy, were we talked about surveys. Kind of interesting, I think people get this in their transactions and that’s like okay, it’s a piece of paper with drawings of my house and a bunch of lions and stuff and what does it all mean. What should people be looking for?
Tracy: Well you know a survey is just part of the process of the sale and making sure you’re buying the right piece of land and that there’s not encroachments so that the property lines are really where the fences are, right?
Henry: Okay. Literally.
Tracy: Literally.
Henry: It’s on the paper.
Tracy: Yeah. So they are just verifying that the lines are really where the fences might be and what you think. And they are looking for encroachments like building inside of an easements.
Tego: Yeah, I was going to say, will you explain an encroachment?
Tracy: Yes, let’s say, there’s utility easements on almost all of our land, right? So that they can just dig and put wires in and then if they have a problem…
Henry: Was that like three feet, something like that?
Tracy: It’s usually about 10-15.
Tego: Yeah, it depends. 7, 10, 15. It depends on the property.
Henry: It depends on where it’s at.
Tracy: And sometimes it’s at the front of the property. Sometimes it’s at the back. Sometimes it’s on the side, usually not right across the property.
Tego: Sometimes it’s on all four sides.
Tracy: Yeah, hopeful not. But it basically says don’t build anything permanent there because if the utility companies that have easements there need to access under the dirt.
Henry: They can do that.
Tracy: Yeah. And they’re not going to put it back all pretty. If you have a beautiful shed there or if you have some beautiful plantings there, they’re going to just kind of dig it up.
Henry: Survey is important.
Tego: Yeah it is. And you can have an encroachment into an easement like a utility easement but you can also have an encroachment into the neighborhood’s property which is a different issue as well. And so sometimes you’ll have a driveway that might have been overtime meander off the line into somebody else’s property. It does happen.
Henry: It happens, yeah.
Tracy: It does. But there’s ways to resolve everything and we’ve got great people that work with us to do that.
Tego: Tracy, do you have home of the week that you wanted to highlight or we’re going to record that here in the minute. It’s going to run next week, right? So, I’m putting you on the spot.
Tracy: Yeah. So we’ve got a couple of great new listings. We have one coming in North Albuquerque Acres actually that’s just gorgeous on San Diego. And so we’ll probably be talking about that next week. I still have that awesome one in Bosky Farms, the horse property.
Henry: Oh, yeah.
Tracy: You know any horse trainers or anybody that needs some beautiful grass to grace your horses or your cows in the barn? Everything, it’s gorgeous.
Tego: Yeah, that’s great. It’s time to wrap up. This has been Albuquerque Real Estate Talk with Tego and Tracy Venturi and the Venturi Team.
If you want to reach us, you can call our realtor on duty line at 933-6881. Get some help, right? I love that bumper music. And you can visit our website at welcomehomeabq.com.
Tracy: Have a great Mother’s Day.

Housing Market Update for April 2015 – Video

Housing Market Update

The big highlight for this month is a 41% increase in the number of homes that went Pending (received a contract) vs April 2014. To me this shows that the demand for real estate market is healthy in the Albuquerque area and should lead toward some strong appreciation this year. The strongest demand is in the average home prices (around $200,000). Homes that are updated, look good, show well, and are priced “In the market” are selling quickly in the northeast heights in particular.

The number of homes sold so far this year (through April) is 9.1% ahead of last and the number of pending sales is up substantially, 23% more year to date than 2013. The other trend that I am watching is the Supply vs. Demand spread. We are currently at the lowest since 2007 and it appears that this trend will continue.

For buyers… prices are going up. Waiting another year will most likely cost you more not just in home price but also interest rate. For sellers… demand is strong in the median price range and demand is still a little soft in the higher prices. If you are thinking of “moving up” from your current home, the timing of doing that this summer looks perfect.

Tego

Albuquerque Real Estate Talk April 25, 2015

Real Estate Talk


Albuquerque Real Estate Talk for April 25, 2015. This weeks show… Parade of Homes and Home Building Trends.

Albuquerque Real Estate Talk Apr 25, 2015

Tego: Welcome to Small Business Saturdays and Market Makers and Risk Takers here on 95.9 FM AM 1600, “The Rock of Talk”. This is Albuquerque Real Estate Talk with Tego and Tracy Venturi. We’re here every week talking about real estate and what’s happening in real estate market here in Albuquerque. Tracy good morning!
Tracy: Hey great to be here! Little rainy overcast weekend.
Tego: We’re with Keller Williams Realty and we have the Venturi Team of Realtors, we specialize in residential real estate. And if somebody wants to reach out to us Tracy.
Tracy: The best way is to call our realtor on duty line which is 9336881.
Tego: So this is a kind of an exciting weekend, we have a great show here planned. And Tracy do you want to introduce our guest and talk about what we’ve got planned and why it’s very timely to have them here.
Tracy: Sure! Well, we want to welcome Scott Ashcraft. Hi Scott!
Scott: Hi! How are you this morning?
Tracy: Good! Great! Thanks for being here on a Saturday morning.
Scott: Thanks for having me. It’s great to be here.
Tracy: Sure. So it’s a busy time for you. You are a home builder and Second Vice President of the Home Builders Association?
Scott: Home Builders Association of Central New Mexico. And this weekend the Home Builders Association sponsors th Parade of Homes which is a great event happens twice a year. Once in the spring and once in the fall so here we are for our spring event.
Tracy: Great!
Tego: You know last weekend the Realtors Association, we had our big open house weekend where there was like 500 open houses last weekend. But of course those were existing homes.
Tracy: No, you mean resale.
Tego: Resale. Well however you want to call it. “Existing”,”Resale” Yes. But how long does the Home Builders Association been doing the parade, I mean years!
Scott: The parade has absolutely been going on for years and it’s a great event for home builders. It’s been very successful over the years. The event survived obviously. The slowdowning construction that occured a few years ago and we’re back strong.
Tego: So how many homes about this year for the spring parade?
Scott: The spring parade has 30 homes that are involved in the parade. Everything from a less expensive, two hundred thousand home all the way up to a home that’s over one-point two million dollars.
Tego: Nice!
Tracy: If somebody wants to check out the homes on parade, is there a website or a publication they can go to?
Scott: The best way to look at the homes and find out who you want to see and what type of homes you want to see is to look at Su Casa Magazine. There is a great spread in this issue of Su Casa Magazine. Lists all of the homes with great pictures, descriptions, directions on how to get to the homes. That’s really your best resource.
Tracy: Great! I know that we’ve always enjoyed the parade of homes to see the lates and greatest and what builders are doing and different styles of homes. Are there certain trends we might be seeing this year?
Scott: You know I think that everything is really out there in the market for people to see these days. I can’t pick something that’s absolutely one hundred percent in every one of the homes. There’s a trend towards green building that I think is important for New Mexicans, Important for us here as home builders. Those homes that are green built are something that is more popular with the buyers so it’s something that we are proud and happy to see in Albuquerque.
Aaron: What are some of the features of a green built home exclusively?
Scott: One of the real important features of a green built home is water use. Obviously that’s important to all of us in Albuquerque and New Mexico. So the green built standards are very specific toward how much water you can use in a home, inside the home and outside the home in your landscaping.
Tego: So there’s within the Home Builders Association here, you know I know a few years ago you guys, the Home Builders Association (HBA) kind of put together the Build Green New Mexico standards. Is that correct?
Scott: There is an organization, Build Green New Mexico that puts together those standards for green built homes and then home builders in the Albuquerque, New Mexico area follows those standards for green build.
Tego: And not all green built homes are created equal. Is that fair to say?
Scott: Well there are varying levels, that’s fair to say absolutely. Everything from a bronze-level home all the way up to emerald which is the highest level of a green built home.
Tracy: So a house can be built green and have all the features in it but not necessarily certified by a Build Green?
Scott: Exactly. And what you just said is what’s important. The certification process and a home that is certified is really what’s important and a consumer should look for in home. Something that the builder has taken the extra steps to make sure that they are following the guidelines of a build green program and incorporating what they need to in a home.
Tracy: As I understand, that’s extra checks like seven extra checks to make sure that things are being done or something. It costs a lot more to build certified.
Scott: It does, it costs more to certify. And more importantly the home builder hires a third party inspectors to ensure that all those aspects of the green build are being followed. And at the end of the construction process, the home is then certified as green built.
Tego: If you are just joining us we’re talking with Scott Ashcraft with Los Fintanas home and is also the Vice President of the Home Builders Association of Central New Mexico. Did I get it right?
Scott: That is correct.
Tego: Got it. We’re talking about the parade, we’re talking some of the green buid. Just back to the parade, people can just go out and find a map, I know there is an online thing on the Home Builders Association website you could look up the different homes that re available. But they can just go right? There’s not like invite only, anything like that. You just go, that’s the whole idea. There are open house that are available to anybody to come through and talk to the builders. Correct?
Scott: That’s absolutely right Tego. You just show up,
Tracy: What are the hours? Is it Friday, Saturday, Sunday and well yesterday?
Scott: Friday, Saturday, Sunday it started yesterday. The parade of homes started yesterday and goes from 11:00 AM to 5:00 PM every day. So, today starting at eleven until five and tomorrow eleven to five. And then parade continues again next weekend Friday, Saturday, and Sunday of next weekend same hours.
Tracy: Perfect. And I know a lot of the homes along the way have maps and information. They’ll have extra suit causes sometimes if you don’t know. You stumble into one, you look for the little direction and say, “Hey, there’s one open’ might not be the one for you. But you can kind of get directed from there.
Scott: Every one of the homes does have suit cause of magazine at the home.
Tego: There you go. They’ll probably be gone by this weekend or by next weekend you’ll probably won’t find any. So you’re a home builder. You have been a home builder for how long?
Scott: I have been a home builder my whole life. I am actually the fourth generation of my family to be a home builder here in Albuquerque.
Tego: So you used to have Ashcraft Homes and some people may recognize that name. You’re company now is Los Fontanas Homes.
Scott: That’s correct. Los Fontanas Homes
Tego: Tracy and I are familiar with your product but others may not be. You guys build kind of a semi-custom, would that be fair to say? Little bit higher-end a home and you do a lot of in-fill work. Is that correct?
Scott: We do. We’re focused on trying to use those pieces of land that are still near the core of Albuquerque and build on lots in locations still near the core of Albuquerque. And we do I think semi-custom is really great description of what we do because we let our customers really customize our floor plans or start from scratch completely with the floor plans of their owns. So that’s a great description.
Tego: Let’s let you promote your product. So what neighborhood or neighborhoods you have right now. I know you have the neighborhood in High Desert. Is that sold out?
Scott: We still have homes in High Desert. The name of that neighborhood is the Legend at High Desert which is near academy at Tramway. And we do have one home in that subdivision in that neighborhood that’s on parade of homes this year. We have a second home that’s in La Luz del Sol which is near Coors and Delen on the west side of town. And we have a home in that neighborhood that’s on the parade as well.
Tego: Got it. What’s your price point let’s say on La Luz del Sol?
Scott: At La Luz del Sol we started three hundred thirty nine-nine is our price point. And up in the Legends at High Desert, we started four hundred sixty five thousand.
Tego: Got it. So La Luz del Sol, Tracy you know that are well that kind of built off the original Antoine pre-duct La Luz neighborhood right on Coors. And then just west of Coors is where the La Luz del Sol is, and the original parts were Antoine pre-duct? Is that correct?
Scott: That is correct. About thirty years ago when that neighborhood was originally started, originally developed.
Tracy: I bet it was more than that.
Scott: It may have been. Good point.
Tracy: I was thinking it was like the seventies. But anyway.
Scott: And there’s two parts, La luz which is on the east side of Coors may have been the older area. La Luz del Sol about thirty years ago when it started. And Los Fontanas Homes has been very fortunate to develop the last little bit of land that’s left on La Luz del Sol.
Tego: We’ll talk about in-fill. I mean that’s picking up a nice location you know obviously nowadays a good Central location for Albuquerque which is I know people been here a long time. Thinking about Coors as the central location but it is. It’s a great spot there looking back towards the mountains.
Scott: It is. It’s high atop a hill there just west of Coors Boulevard so it’s a great location. Really is in-fills these days, and amazing views because of the location.
Tego: Yes.
Tracy: So if you’ve been to that area I just can’t recommend it enough to go see those homes. I don’t know what you call them but to me they’re clean contemporary, not really modern but modern just really inspiring. Because the windows and the views and the finishes that you guys use. It’s kind of like storybooks really.
Scott: We really appreciate that and you hit the nail on the head. It’s all about the windows and the views.
Tracy: Yes. Great!
Tego: So we’re going to wrap up this segment. We’ll be back. We’re going to talk about home building in the Albuquerque area. I’ve got a little bit of a market stats I want to cover. We’re talking with Scott Ashcraft with the Home Builders of New Mexico and this is Albuquerque Real Estate Talk with Tego and Tracy Venturi and the Venturi Team. If you want to reach out to us and talk real estate we’re always available. Our website is welcomehomeabq.com and our team line is 9336881. And Scott, what is your Los Fontanas website if somebody wants to just look at your homes and see what you got going on?
Scott: losfontanasnm.com is our website.
Tego: Got it, losfontanasnm.com. We’ll take a break and come back shortly and talk about home building as well as pretty exciting market stat. Things going on in the city and the country.
Tracy: Hi there! Tracy Venturi with Keller Williams Realty, the Venturi Team with these weeks home of the week. It’s a great one. At 1405 Pinnacle View, right next to the mountain in the foothills of Albuquerque. It’s four thousand five hundred forty six square feet, 5 Bedrooms with a huge game room.
Tego: Welcome back to Small Business Saturdays, Market Makers and Risk Takers and Albuquerque Real Estate talk with Tego and Tracy Venturi with the Venturi Team and Keller Williams Realty. We are here every week talking about real estate. We’ve been talking about the parade of home this week Tracy. Of course it’s a big thing going on this weekend and next weekend and if you’re not familiar with the parade of homes it’s something that the Home Builders Association of New Mexico does twice a year.
Couple of years were a little bit thin I got to say. There was not a lot of homes. But of course you know we just went through a little bit market change but things are definitely on a upswing. We’re joined by Scott Ashcraft with the Los Fonatanas Home and also Vice President of Home Builders Association.
And Scott what would you say? I mean we see it in our world in residencial real estate that things seems to be really on the upswing from a home sale standpoint. What do you guys seen in the building world?
Scott: We’re definitely seeing more customers out looking at homes now and choosing to build new homes at this point which is great. That is what we want to see from our standpoint and we’re also seeing those permits you know overall in the city and in the state. The number of permits for new homes is starting to tick up. It’s not shooting up. It’s not something that is rising you know extremely quickly but it is something on a steady upward trend.
Tego: You know something you and I have been talking about before we came on the air was obviously there was a period there when there wasn’t a whole lot of development going on. And when I say development, the land development and that’s a long process. Correct? To get lots ready to go to build homes on. Correct?
Scott: It is. I think a lot of people don’t appreciate the amount of work that goes into taking a raw piece of land. Something that’s any from two acres to a hundred acres and developing that into lots that are ready for a home builder to build homes.
Tego: Yes. And so that could could be a long of process not just the actual build up but all the permitting and the approvals and the zonings and the stuff you’ve got to go through. Right?
Scott: Absolutely. That’s the entitlement process and it can take anywhere from months to years so it is important and it’s something that hasn’t happen for many lots in the Albuquerque metro area for the last few years. So we’re starting to see that again which is a good thing.
Tego: Again we talked about this earlier. Your company lost a ton of. You guys specializes in in-fills smaller projects. Correct?
Aaron: That is correct. We’re not a company that’s going to go out and buy a hundred lots somewhere and do a huge neighborhood. We really try to do something that is closer to the core of the city. Smaller you know nine to thirty lots a time. Something along those lines where we’re comfortable.
Henry: I’m sorry Tracy. Are you seeing younger consumers especially the older Millenials, late 20s, mid 30’s starting to want that product closer to their urban population center?
Scott: Well that’s absolutely what the statistics are telling us at this point. Millenials are choosing and want to live in areas where they can you know go out and walk to dinner or walk to the gym or catch the bus or the train. So that’s definitely something that Los Fontanas Homes wants to focus on and make sure that we’re in those areas where you don’t have to get in your car and drive all the way across the town to go where you want to go.
Tego: Yes.
Tracy: That’s awesome. So the location on the west side is right by Jinja and there is a fitness place right there and I think maybe a karate or something that you know, its west side is very close to the freeway. So getting downtown, the base, lot of people that want to commute those directions plus some areas you can walk to if you want to have a glass of wine and walk home.
Scott: You can absolutely.
Tego: You know something that we have talked last week was the trend is not so much suburban building and it’s more in-fill like what you’re doing. And we talked about the project that Kenny Hiccus is working on at downtown Central at Carlisle last weekend. Again it’s more that kind of stuff that seems to be you know going for the next thirty years. That’s what is going to be more popular and more demand it seems like for building. Would you agree with that Scott?
Scott: Absolutely. And that’s something that our company wants to focus on and we think it is something that is good for the city.
Tracy: So if somebody wants to maybe they have a lot and they want to build just their house. Do you do that?
Scott: Absolutely. That is something that is important to our company. We can take a lot that a customer comes to us and says, “Look, I have a lot in this part of town. Can you start from scratch? Help us design and then build a home on this lot.” We love to do that.
Tracy: And if you haven’t seen their homes I definitely suggest to get into one. You obviously have your parade of homes but you have model homes all the time open don’t you?
Scott: We do. We have model homes, right now we have two model homes in the La Luz del Sol subdivision off of Coors and those are open all year .
Tracy: Perfect.
Scott: Or off of Coors if you’re from Texas.
Aaron: And Tego looks for me for the Coors.
Tego: By the way, that’s Aaron Henry Diaz, our wonderful producer and obviously afternoon host of the Rock of Talk here. So Aaron Henry thank you for producing for us. Of course we love the afternoon show. You know market stuff, I just want to hit a couple of things because I saw some national numbers that I thought was interesting and we’ve been talking about this. That there was a lot of activity it seems like this spring. Tracy, would you agree?
Tracy: There has been. And I know your statisticians so I’m hoping you brought some stats to share with us.
Tego: You know the one number I’ve been talking about a lot is the March pendings in Albuquerque were up thirty five percent, fourteen versus fifteen. It’s a huge jump in the number of homes that we received in and had a contract on the home. And then I saw some national numbers go back to February. Obviously there is always a little bit of delay but kind of the same thing. It’s almost double the amount of buyer activity nationally from February of fourteen to February of fifteen. So just seems like there is a lot going on out there and I know in our market. When I say our inventory supply is low, it’s been the lowest it’s been since two thousand seven. Meaning the number of homes available to purchase versus the number of buyers available in the market.
Tracy: So if you want to talk about real estate with us give us a call. We have a realtor on duty number it’s 9336881 or welcomehomeabq.com and if you interested in learning more about the neighborhoods Scott builds or finding about building a home. Scott tell us how can we reach you?
Scott: Well we have a website that has a great place to look at photos. We have a great photo gallery there of the homes we’ve built like losfontanasnm.com or my wife sells our real estate as well. So you can contact her.
Tego: Yes. And you can always contact us, The Venturi Team and we can get you in touch with them and help you obviously with your real estate needs. That’s what we do. And Scott, I wanted to ask you as we finish up here we still have time. But trends and new home construction seemed to have changed quite a bit just in the last ten years. Would you agree with that?
Tracy: And before you do that we talked about trends in color and finishes.
Tego: Oh right!
Tracy: You mean kind of construction methods and qualities and things?
Tego: I think so. I don’t want to say building standards, I don’t know if the actual standards have changed but seems like the products, materials, the way homes are being built are quite a bit different than even in just the last five or ten years. Is that?
Scott: I think the trend toward the green building has really helped builders focus on those things that are important to building a good home. So the fact that many people are interested in the green build process has made myself and other builders focus on how we insulate homes, what type of materials we put in the homes to ensure that we have good indoor air quality and the mechanical systems we use in homes as well. And what I mean by the mechanical systems are the heating, the air conditioning, and the water heaters in homes are all things have gotten so much better and so much more efficient over the last few years.
Tego: Yes. It’s amazing how much you know you think about when the housing market is really in that crazy boom time in ’04,’05, ’06. And then nobody can build homes as fast enough at one point there in the course, the switch just got turned off for a little while. But it seems during that period where the market was slowed down the builders just started to uppen their game. I don’t know if that’s true but it just seems that way.
Scott: I think you’re right and that’s definitely good for the consumer. We see builders who are professional builders who are now out building homes and that’s good for the consumer because we have great quality now.
Tego: Well okay let me say then since you are a builder and a professional builder. I’ll be the one to say it, there were a lot of people that were “builders” that had their GB98 contractors licence but they weren’t necessarily home builders but they knew the could go build a house. Make you know fifty thousand dollars and do another one when they have more cash. But they weren’t true professionals home builders.
Scott: That’s right. And the consumer really needs to focus and look for builders that do this all day every day and have done so for years.
Tego: Well we say the same thing about real estate agents and it’s true.
Tracy: And reputation matters. Who’s going to be around afterwards you know to make sure to take care of the products?
Tego: And so if somebody is looking for a home builder obviously HBACNM right?
Scott: That’s correct.
Tego: HBACNM Home Builders Association of Central New Mexico, that’s a good resource right? Then go to the website they can see all of the builders that are part of that association. Correct?
Tracy: I’ve been over that website and it could be overwhelming. I would say go to parade of homes.
Tego: There you go. Okay.
Tracy: Walk through houses, talk to the builders. They’re mostly on site at the properties. You can talk to them about what you like and see if it matches with what they really build.
Tego: That’s a really great tip Tracy, really. And just like anythinh it’s about personality and meshing with that person as well. And there’s a lot of great builders out there but I suspect that not everybody is going to jive with everybody out there. Just like again, just any professional hiring.
Scott: It’s exactly like hiring a realtor so I’m sure it’s something you talked about and you experience all the time. Hiring a builder is just like hiring a great real estate agent so you need to meet that person, you need to make sure that your personalities really work together. And that’s why the parade of homes, Tracy is absolutely right. That is why the parade of homes is a great opportunity if you’re thinking about building a home. This is when you need to get out there look at homes and decide who the right fit for you is.
Tego: So Scott thank you so much for coming in and talking about the parade of homes. If you’re listening and just joined us, we’ve been talking about the parade of homes. Get out there. There are a bunch of homes to see this weekend. You can do that this weekend and next weekend. You’ve been listening to Albuquerque Real Estate talk. And if you want to visit the Venturi Team where at www.welcomehomeabq.com or you could call us at 9336881 to talk about this show or talk or any questions you have about real estate in Albuquerque. Have a Great Weekend!

Albuquerque Real Estate Talk April 4, 2015

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Welcome to Small Business Saturdays and market
makers and

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risk-takers on kiva radio

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the rock of talk on 95 nine FM a.m. 1600
in this is

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tego venturi with the venturi team at
Keller Williams Realty

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and I’m joined by Tracy venturi like
always talkin

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residential real estate here in the
Albuquerque

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area on the production panel back there
behind the glass is Aaron Henry DS

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thanks for posting with us to share your
afternoon show to buy thanks man

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pleasure to be here venture is yell good

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Easter weekend we’re here in yeah
usually a little busy with

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well right presidential we are you know
you know a lot of people are of over

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holiday weekends

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which gives them time to look at houses
so we actually get really busy over

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these weekends and we love it

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we’re ready gives we’re hoping the
weather

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little little windy I must be spring in
New Mexico little breezy

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allergies are definitely senior yeah its

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at that time you’re so I you know we’ve
got a good lineup today we’re going to

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talk about some in the market statistics
and there’s a really dramatic things

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happening in our market now 10

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I want to bring those up regarding on
supply versus demand

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and then work with God trees you got a
list that we saw a news story and it was

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pretty interesting kind and what’s
trending in real estate right now and

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we’re gonna go through that

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absolutely no we as Realtors rack we get
a lot of information for that from the

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National Association for realtors and we
just were looking this morning at what’s

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trending now

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in real estate and it was like five
topics it will just hit on quickly

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better really training for us all relate
to and a

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this again is to go venturi with the
venturi team Keller Williams Realty if

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you wanna talk

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real estate you can call our team line
our realtor on duty line

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thats 505 of course and 9

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33 sexy 81 in our website is welcome
home

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a BBQ

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dot com so you to get these markets test
received pretty pretty interesting stuff

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you know we went over this in our team
meeting yesterday

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and it there’s some really the

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you know absolutely I love to

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to know what the market is doing and
what we know is there’s really

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to different markets in Albuquerque rate
we’ve got there more affordable home

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market and then are certified luxury
market neared

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just very distinctly different yet they
are in

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the thing that’s this happened is we had

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we had a really strong March we had a
lot of home selling marching 100 more

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homes sold

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this March versus last year yes you know
it’s like

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6 I had the number you’re fires fires
were out in March taking it and she know

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interest rates

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yeah were expected to start rising and
we got news that the

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worst staying steady for now enjoy a lot
of people jumped in

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India likely will stay steady of course
the jobs report coming out yesterday

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Friday lackluster numbers again so the
Fed

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and the central bankers are definitely
gonna be considering with more patients

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went to raise those rates on all things
in the coming sooner than June 18

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we would be looking towards yeah you
know it in everybody keeps rates gonna

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go

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Rays gonna go up in a corset did bump up
your month or so ago

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and day just came right back down a tree
see anyway

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they did they went up significantly over
half a point which in near

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monthly mortgage is significant and you
know we appreciate you keeping us up to

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date on

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you know the nation news because we all
need to know because

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things affect yes its it’s great because
when the jobs report comes out how does

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that affect interest rates for home
buyers in

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years Albuquerque in New Mexico well as
dozen it’s interesting you know we

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always say

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you know real estate is local your that
the market is

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very much that but somebody’s national
things affect

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like the interest rate what the Fed is
due in court you guys

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you Aaron in any you’re gone in the
afternoon you guys are both kinda

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a economist d types

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I’m a nerd I read the journal yeah Wall
Street Journal

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on anything yeah yen

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entered into steep so anyway March
really strong

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I just found the number here we had 930
sales

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in this there there’s prolly gonna be a
few more cuz there’s always a couple

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akers

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don’t get picked up your were only a few
days into the

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a.m. April and verses

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9:20 so it’s like a 12 percent gain in
the number of homes sold in March

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year-over-year thought pretty Priya I’m
pretty amazing Indians

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the bigger number the number get this
the number of homes

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when under contract in March was

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1250 verses

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920 last year at a 35 percent increase

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mom number of homes that actually got a
contract went under contract no question

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closed yet

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there’s still a net said in Seoul

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its it’s pretty dynamic in in what that

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clause is actually kind of a supply
issue in certain price ranges

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right it’s either exactly n in Seoul
will

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it’s sort of time if you thinking about
selling your house

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callers now there’s buyers waiting we
only have less than a three-man

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inventory homes on the market in net
more affordable price range

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the third first-time homebuyer under a
hundred and fifty thousand there’s

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there’s not a lot to supply rendered 200
G

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Virginia yeah and you know Tracy Letts

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hit on that you start to say this kinda
to markets explain which

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you mean by that well our markets like
maybe four hundred 500,000 in a bad his

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and a distinctly different market then a
house that’s price to 250,000

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their homes that ur in what we would
consider higher-priced her luxury

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are still lagging behind their
recovering we’re not seeing

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on a lot as sales I believe last year
over a million maybe

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28 houses in our markets old yeah yeah
and it’s it’s getting better

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it’s still it still lagging behind

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kinda you know let’s say you know
entry-level or kinda

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out average price/night turkeys 200,000
so basically it’s a set average price

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range

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for market area you know in some parts
of town we still see

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a demand for like that 400,000 sorghum

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executive levering home maybe it’s a
move up buyers

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needed innis ranchers Northeast High

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specific areas where yep los Ranchos
400,000 management

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doesn’t get too much show it depends
really does your

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if somebody wants to sell in there
around 400 450 maybe it’s a single-story

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sorted newer 10-15 years old in there in

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then far northeast high desert north

0:07:04.099,0:07:07.689
passaic hours in the heights or
something it

0:07:07.689,0:07:10.699
it’s in demand we have a shortage Fisher

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yeah I’m so you the the takeaway couple
things I i

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took out at this and I’ve been watching
this now for months that just you know

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is interested in December when I saw
this as how supply is down in December

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really in it continued now you know
further

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for the last four months in it that
trend

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is continuing so you know what I see
happening is

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obviously eventually appreciations gonna
come along with us

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prices are gonna get driven up simple
supplied traditionally this

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right happens right how long has it been
since you games yeah I seen the

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this price range inventory cut go down
all the way to three months I mean

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trees sounding the for late reply
specially the recent market

0:07:53.699,0:07:58.139
I went back and tried to find something
I can find I can go back i mean a

0:07:58.139,0:08:02.539
you know I I went back three years and
then there is nothing in so I’m sure

0:08:02.539,0:08:06.289
it’ll probably been since 08 yeah 07

0:08:06.289,0:08:09.869
somewhere near the crisis the yah the
crisis

0:08:09.869,0:08:13.079
yesterday it actually maybe go back like
06

0:08:13.079,0:08:16.539
here in our boom time you know the other
thing we know is

0:08:16.539,0:08:19.860
and we do lag behind the rest of the
country and we

0:08:19.860,0:08:23.759
we do expect a strong summer selling
season it doesn’t mean prices are gonna

0:08:23.759,0:08:27.759
go up specifically for all of our home
sellers but it does mean that your days

0:08:27.759,0:08:29.179
on market may be better

0:08:29.179,0:08:33.439
and that there will be more buyers
perhaps looking at your house in

0:08:33.439,0:08:36.379
might sell quicker so if you’re looking
to sell right now

0:08:36.379,0:08:40.009
it’s the time to do it I would you know
what I I’d even add to that if you’re

0:08:40.009,0:08:41.159
looking to sell

0:08:41.159,0:08:44.980
and move up yeah if you’re next hundred
thousand dollar house now

0:08:44.980,0:08:48.139
to a certain extent you’re in a seller’s
market in the chem

0:08:48.139,0:08:52.370
thousand dollar price range in if you’re
by a five hundred thousand dollar house

0:08:52.370,0:08:53.699
you’re in a buyer’s market

0:08:53.699,0:08:57.779
so it’s and interest rates are still
ridiculous onslaught

0:08:57.779,0:09:02.050
hymie I know know it’s like it sound so
good

0:09:02.050,0:09:06.920
I know it sounds too good to be true
bubble right doing their jobs job right

0:09:06.920,0:09:07.439
about that

0:09:07.439,0:09:10.620
you know I mean so that you know some
other national stories is

0:09:10.620,0:09:13.769
we there some markets that are just

0:09:13.769,0:09:18.410
dying for homes for sale again Haas its
marketing are getting ten offers

0:09:18.410,0:09:21.480
right you know Denver San Francisco

0:09:21.480,0:09:24.779
you know I’ve heard some others on a
similar stature

0:09:24.779,0:09:28.079
Austin San Antonio Texas definitely yeah

0:09:28.079,0:09:31.670
so we we network with Realtors all over
the country and we’re actually going to

0:09:31.670,0:09:33.470
an event at the ended April

0:09:33.470,0:09:38.819
in San Diego where the top about 200-250
Realtors can get together and share best

0:09:38.819,0:09:40.949
known methods and ideas in just

0:09:40.949,0:09:45.449
it’s always phenomenal that we keep up
with those folks on a private facebook

0:09:45.449,0:09:46.089
group

0:09:46.089,0:09:50.559
doors and your colleagues at your
network right place it keeps us up on

0:09:50.559,0:09:54.370
the country in like I I was talking this
morning actually yesterday morning with

0:09:54.370,0:09:54.750
a

0:09:54.750,0:09:58.139
broker out in the miami area they do
huge marketing

0:09:58.139,0:10:02.689
overseas they get tons of foreign people
slipped to do like a walkthrough video

0:10:02.689,0:10:03.459
that’s very

0:10:03.459,0:10:07.500
naturally don’t class it out the because
there’s so many people buying sight

0:10:07.500,0:10:08.920
unseen internationally

0:10:08.920,0:10:13.100
right they do a real Ron walkthrough so
people know this is really what the

0:10:13.100,0:10:15.939
house looks like this isn’t those photos
where we only

0:10:15.939,0:10:19.009
pic pick and choose the ones who really
wanted to see

0:10:19.009,0:10:22.189
because they’re buying it without ever
even come into the state’s

0:10:22.189,0:10:25.990
now we don’t have that we don’t have
maybe me

0:10:25.990,0:10:28.980
day you know Santa Fe international
buyers

0:10:28.980,0:10:32.800
we don’t know Albuquerque we don’t miss
anything is heating up to you I know we

0:10:32.800,0:10:35.180
have a partner that we work with and
Santa Fe in

0:10:35.180,0:10:39.259
and their market is also heating up but
it’s just great for us to come to keep

0:10:39.259,0:10:42.699
our polls on the rest to the country and
we can you know then what’s coming our

0:10:42.699,0:10:45.819
way and I think we’re starting to see
some love what the other Realtors have

0:10:45.819,0:10:47.769
experienced over the last two years

0:10:47.769,0:10:52.180
I just wanna kinda wrap up for our young
next segment for our listeners what you

0:10:52.180,0:10:52.980
expected

0:10:52.980,0:10:57.129
talk real estate next same I’m we’ve got
this list again what’s trending and

0:10:57.129,0:10:57.480
we’re gonna

0:10:57.480,0:11:01.040
you know we cannot talk about some
trends here locally in in the market

0:11:01.040,0:11:03.389
just a national things that are that
apply to us

0:11:03.389,0:11:06.550
one thing I want to close out the
segment with is there you know we’re

0:11:06.550,0:11:10.670
real estate agents were real tours and
we have a team

0:11:10.670,0:11:14.470
the venturi team and we’re looking for
good people join our team

0:11:14.470,0:11:17.600
and so we’re hiring and so if you’re if
you’d like

0:11:17.600,0:11:21.500
to talked about that with us just you
know reach out to us on the hotline

0:11:21.500,0:11:23.610
which is our 93 360

0:11:23.610,0:11:27.449
one number you know whoever picks it up
or mortgages directed to

0:11:27.449,0:11:32.100
probably Tracy to talk about that so I
want to put that out there and yeah

0:11:32.100,0:11:35.339
and we’re we’re looking for for good
people

0:11:35.339,0:11:39.910
we can always are but good definitely
will this is the team to join if you’re

0:11:39.910,0:11:41.490
looking to get into real estate or

0:11:41.490,0:11:44.920
getting as a seller buyer as well and
what’s the website again

0:11:44.920,0:11:48.160
welcome home BBQ dot com Welcome Home

0:11:48.160,0:11:52.550
a DQ dot com dot com will be back
shortly with Small Business Saturday

0:11:52.550,0:11:55.610
and market makers and risk-takers here
on

0:11:55.610,0:12:02.610
Kiba radio

0:12:05.750,0:12:06.900
welcome back to

0:12:06.900,0:12:10.850
Small Business Saturday and market
makers and risk takers with Albuquerque

0:12:10.850,0:12:14.460
real estate talk this is to go venturi
with the venturi team

0:12:14.460,0:12:18.720
Keller Williams Realty and I’m joined by
Tracy entry like always talking about

0:12:18.720,0:12:21.050
real estate we just had a great
discussion regarding

0:12:21.050,0:12:24.630
what’s going on the market in a coarser
producer here in

0:12:24.630,0:12:28.250
and medias and he a at a great great im

0:12:28.250,0:12:33.090
inside as well so appreciate that Aaron
on Tracy you’ve got this story that came

0:12:33.090,0:12:36.130
out no one to go over cuz I thought it
was pretty interesting is like what’s

0:12:36.130,0:12:37.540
trending in real estate

0:12:37.540,0:12:41.720
absolutely so it’s interesting because a
lot of these topics there’s

0:12:41.720,0:12:46.350
123 her five bullet points that realtor
dot com just released in

0:12:46.350,0:12:49.410
they’re all topics we’ve been talking
about over the last couple weeks and

0:12:49.410,0:12:50.190
months so

0:12:50.190,0:12:53.880
you know pretty spot-on Sauron we’re
headed the curve totally

0:12:53.880,0:12:57.370
night right here in Albuquerque right
here we like to think so in

0:12:57.370,0:13:00.770
I mean this is gonna sound weird but
don’t even

0:13:00.770,0:13:05.030
we pay attention I mean Tracy and I and
in our team

0:13:05.030,0:13:09.070
we really watch the market all the time
oh yeah we live and breathe this and you

0:13:09.070,0:13:11.570
know we are very much full time Realtor
Xanders

0:13:11.570,0:13:16.290
3,000 real estate agents here in
Albuquerque market believe it or not in

0:13:16.290,0:13:20.190
really wanna be the polls and be the the
source for the information regarding

0:13:20.190,0:13:21.140
real estate so

0:13:21.140,0:13:25.710
so let me check give you that bullet
points and we can talk about whatever

0:13:25.710,0:13:26.310
one

0:13:26.310,0:13:29.630
to seems interesting so topic one was

0:13:29.630,0:13:33.240
work foreclosures keep slipping now
we’ve talked about that a couple a times

0:13:33.240,0:13:34.170
which is

0:13:34.170,0:13:38.830
great and I looked at it again for for
march in it in it’s down again and we’re

0:13:38.830,0:13:42.440
you know less and less foreclosures on
the market less and less foreclosures

0:13:42.440,0:13:46.450
selling of course researchers lots of
them yep buyers want move in ready

0:13:46.450,0:13:49.490
properties and we could talk for hours
on this island’s

0:13:49.490,0:13:53.120
come back to that they do sellers are
needed

0:13:53.120,0:13:57.360
so even in our market we just talked
about that mortgage rates held steady

0:13:57.360,0:14:00.790
again and home prices are surging

0:14:00.790,0:14:02.440
which were not seen not

0:14:02.440,0:14:05.800
yet a little bit yeah I mean your last
year old just

0:14:05.800,0:14:10.250
hit this cuz we did talk about earlier
is we had basically we tracked about a3

0:14:10.250,0:14:12.390
percent appreciation Albuquerque

0:14:12.390,0:14:15.500
which isn’t bad I mean it’s that
considering it it

0:14:15.500,0:14:20.080
yet okay I mean it you don’t feel it
obviously dated a month to month even

0:14:20.080,0:14:25.330
but home sellers this is good and what
we know is less

0:14:25.330,0:14:28.640
less people are upside down in their
home wrecked so

0:14:28.640,0:14:32.520
skin so let’s go back to buyers want
move in ready

0:14:32.520,0:14:36.020
capitis what is a move in ready property
totally so

0:14:36.020,0:14:42.020
most buyers that lets let’s go back to
our average sale prices 200,000

0:14:42.020,0:14:45.950
most buyers you can use an FHA loan
which is three and a half percent down

0:14:45.950,0:14:47.790
so that seven thousand dollars

0:14:47.790,0:14:51.110
maybe yeah down payment for the first
time

0:14:51.110,0:14:55.690
first fired by a 2000 are two hundred
thousand dollar house and then maybe

0:14:55.690,0:14:58.570
they have a little bit a closing costs
and there’s certainly no other

0:14:58.570,0:15:01.680
2000 can I just say something did its

0:15:01.680,0:15:04.750
in that three and a half percent down
earn you need to change into three

0:15:04.750,0:15:05.800
percent isn’t

0:15:05.800,0:15:09.180
even it’s not that not just first-time
homebuyers

0:15:09.180,0:15:13.650
not no no now yeah sorry I stand
corrected

0:15:13.650,0:15:17.250
yeah it’s it’s available to anybody
right primary residence

0:15:17.250,0:15:20.560
impact this your first time home buyer
there some programs to help

0:15:20.560,0:15:24.230
with that decision percent so there’s a
letdown

0:15:24.230,0:15:29.320
programs which we’ve talked about an FHA
buyers not necessarily a first time

0:15:29.320,0:15:29.840
buyer

0:15:29.840,0:15:33.240
it’s got to be a primary residence now
okay so

0:15:33.240,0:15:38.240
that’s all on but move in ready a lot of
times when we’re looking at somebody is

0:15:38.240,0:15:40.950
buying a two hundred thousand dollar
house they have just enough for their

0:15:40.950,0:15:43.610
down payment or they’re getting down
payment assistance

0:15:43.610,0:15:47.110
may be the seller’s helping them with
closing costs are they’ve got that saved

0:15:47.110,0:15:47.460
up

0:15:47.460,0:15:51.230
they don’t usually have money to go in
and remodeled house

0:15:51.230,0:15:54.640
or put a new roof under a new heating
and cooling raining

0:15:54.640,0:15:57.760
you know way can operate a couple cord

0:15:57.760,0:16:01.100
or even something like new carpet you
know it

0:16:01.100,0:16:05.450
yeah you know this year the average home
you know just average carpet may cost

0:16:05.450,0:16:07.450
three to five thousand dollars to do a
whole

0:16:07.450,0:16:08.790
house Eugene

0:16:08.790,0:16:12.110
yeah and in the painting a mural
painting is one thing obviously we can

0:16:12.110,0:16:12.680
all do

0:16:12.680,0:16:16.629
ourselves it’s not that expensive and
it’s not that excellent just messy

0:16:16.629,0:16:21.540
fortunately unfortunately some people
have painted their homes that had no

0:16:21.540,0:16:22.940
business paintings

0:16:22.940,0:16:26.089
but that the whole nother discussion you
know when you see those houses you know

0:16:26.089,0:16:26.500
it

0:16:26.500,0:16:30.000
later treaty and Nellies yeah see

0:16:30.000,0:16:33.730
this for the buyers wanting move in
ready can see a need it freshly painted

0:16:33.730,0:16:36.839
they need to curb either shampooed
already replaced

0:16:36.839,0:16:41.399
it’s bad they don’t have the ability
most to them to even go

0:16:41.399,0:16:46.329
they’re offering a kirpan allowance to
you picking you do it but most people

0:16:46.329,0:16:50.560
they need to be motivated they need to
walk in and be moved in fields

0:16:50.560,0:16:54.290
nothing and when you walk in in the
carpets old worn-out

0:16:54.290,0:16:58.470
they’re comparing it to the the seller
who updated the house who got it ready

0:16:58.470,0:16:59.170
to sell

0:16:59.170,0:17:02.970
your think about when you go so you use
car clean

0:17:02.970,0:17:06.409
technology rappers us Kennedy

0:17:06.409,0:17:11.089
detailed so when when the seller’s take
the time to detail their house they get

0:17:11.089,0:17:11.809
more money

0:17:11.809,0:17:16.610
they sell it faster and the buyers
feeling so it’s stuff like

0:17:16.610,0:17:20.470
you know getting rid the dirty carpet
putting in a newer carpet

0:17:20.470,0:17:23.709
re: even having them take that carpet or
a

0:17:23.709,0:17:27.030
what stuff with the walls I would assume
yet different things

0:17:27.030,0:17:31.400
a lot of it honestly is good old fashion
cleaning disclosure

0:17:31.400,0:17:34.640
cleaning with the extra elbow grease
exactly

0:17:34.640,0:17:38.630
and you know net that the yard the house
the Orioles

0:17:38.630,0:17:42.320
curved exactly all that stuff in

0:17:42.320,0:17:46.549
and cleaning doesn’t cost you anything
no in in in a course decline are we

0:17:46.549,0:17:48.179
always talk about the clutter and

0:17:48.179,0:17:51.520
you know buyers need to see it through

0:17:51.520,0:17:55.090
how they’re gonna live right they don’t
wanna see all your stuff now

0:17:55.090,0:17:59.350
they just wanna see the bare-bones you
know furniture just to get the basic

0:17:59.350,0:18:00.380
idea yeltsin

0:18:00.380,0:18:03.520
no a blank campus open campus yeah

0:18:03.520,0:18:06.900
so move in ready really means I can just
bring my moving boxes

0:18:06.900,0:18:11.380
income and maybe I need to wash out a
few cupboards and things but basically

0:18:11.380,0:18:11.650
an

0:18:11.650,0:18:13.990
need to paint and Anita we can walk

0:18:13.990,0:18:16.870
war unit at the Home Depot for the next
couple months

0:18:16.870,0:18:19.970
no HD TV show you for some in-house

0:18:19.970,0:18:23.590
that’s right okay you know another trend
that they’ve gone into I’m sorry

0:18:23.590,0:18:27.860
now Neemrana to wrap that up in and talk
about this guy I think it’s important is

0:18:27.860,0:18:33.020
the rents and that rents continue to
increase at a much faster rate is

0:18:33.020,0:18:36.650
rate then home prices and in renting

0:18:36.650,0:18:39.750
is definitely more expensive than by oh
yeah now

0:18:39.750,0:18:43.460
ish you know okay into yeah it

0:18:43.460,0:18:47.029
you need to you need to think about that
if now again if you’re gonna be in a

0:18:47.029,0:18:50.919
in a city for you know it righted it
probably doesn’t make sense because

0:18:50.919,0:18:51.429
you’re gonna

0:18:51.429,0:18:55.330
have your eight percent closing costs
you know going out of the home so you

0:18:55.330,0:18:55.890
wanna

0:18:55.890,0:18:59.260
you want to be careful about bad by in

0:18:59.260,0:19:02.659
you know but you still get those tax
advantages he got a player does and

0:19:02.659,0:19:06.090
into the equation as well so you know
it’s

0:19:06.090,0:19:09.710
it did to me it seems like the trend
going to continue the trend teen

0:19:09.710,0:19:13.500
is going to continue to increase to a
certain extent although

0:19:13.500,0:19:17.370
there’s a lotta building going on than
the multi-family world right now

0:19:17.370,0:19:20.600
you know we’ve talked about this before
too and I’m just gonna

0:19:20.600,0:19:24.570
and that can give topic about that it’s
your monthly payment

0:19:24.570,0:19:28.559
on owning is probably less than what
your rent might be right now because ur

0:19:28.559,0:19:30.140
interest rates and home prices

0:19:30.140,0:19:34.010
I’m not even to take into account the
tax advantage

0:19:34.010,0:19:37.500
racked just to close it with that

0:19:37.500,0:19:41.820
if you buy today you’re locking in your
monthly housing costs right

0:19:41.820,0:19:45.600
for thirty years years I’m sure that
rents aren’t gonna stay stable for

0:19:45.600,0:19:46.309
thirty years

0:19:46.309,0:19:50.240
on the next topic I wanna go to this
kind of a trending topic

0:19:50.240,0:19:53.890
is the Millennials especially they’re
going green

0:19:53.890,0:19:57.120
yes ma’am there we go so

0:19:57.120,0:20:00.580
we’re where you know they’re pushing
home builders to really be green which

0:20:00.580,0:20:02.919
we know most of our new home builders
are

0:20:02.919,0:20:05.789
on in the trash conservation

0:20:05.789,0:20:10.460
and stuff like that something we saw
happen here in let’s say oh nine

0:20:10.460,0:20:14.720
10 range when the builders in town were
i mean they were they were changing

0:20:14.720,0:20:18.759
they were struggling I mean it was time
enough selling anything in

0:20:18.759,0:20:22.879
and a few other the builders i think is
third with a local builders production

0:20:22.879,0:20:23.429
builders

0:20:23.429,0:20:27.779
they started doing the the bill green
New Mexico certification

0:20:27.779,0:20:31.619
and then they kinda paul started doing
it can what happens in the homebuilding

0:20:31.619,0:20:33.200
world is right guy does it

0:20:33.200,0:20:36.419
like it used to be everybody had a
backward coolers and then builders

0:20:36.419,0:20:39.789
started putting in air conditioning is a
standard not all the builders have your

0:20:39.789,0:20:40.440
kitchen

0:20:40.440,0:20:44.249
there the same thing with the green like
they’re all doing some certain level of

0:20:44.249,0:20:46.220
green green certification solar

0:20:46.220,0:20:50.769
water aspects on this green I guess
certification or green

0:20:50.769,0:20:54.450
communities that Millennials love
obviously if you’re gonna be paying your

0:20:54.450,0:20:57.419
utility bills you want to be able to
keep it comfortable so what about

0:20:57.419,0:20:59.190
heating and cooling those things

0:20:59.190,0:21:03.580
remaining unite even landscaping so that
use less water

0:21:03.580,0:21:09.279
one to plant grass and keep it watered
but if users keep interactions keep it

0:21:09.279,0:21:10.059
depends on yeah

0:21:10.059,0:21:13.359
artist you’re from how you say it but
p.m. yep

0:21:13.359,0:21:18.320
down south because you call it sounds
like exercisers Kate yeah I

0:21:18.320,0:21:21.879
Europe X-ers game down down in yeppers

0:21:21.879,0:21:25.470
yeah we say y’all over well scholarship
you guys

0:21:25.470,0:21:30.369
get that text things little bit but this
is real estate Oct nine yr

0:21:30.369,0:21:34.159
yeah not know how it operates truces I
know turkey

0:21:34.159,0:21:38.659
what what’s interesting about the bill
green New Mexico’s it was a group

0:21:38.659,0:21:39.580
builders

0:21:39.580,0:21:43.200
who got together and started meeting and
when they were first meeting I was going

0:21:43.200,0:21:46.479
to those meetings they’re the ones who
came up with the different levels

0:21:46.479,0:21:50.059
green certifications gold silver bronze

0:21:50.059,0:21:54.619
levels so they put together charts and
they said okay this is the minimum to be

0:21:54.619,0:21:58.210
this level and then we’re gonna add on
all these other green features to be the

0:21:58.210,0:21:59.619
next level and green

0:21:59.619,0:22:03.330
and each level obviously cost them a lot
more to build that way

0:22:03.330,0:22:06.779
it’s like anything you know the the
first things aren’t that expensive in

0:22:06.779,0:22:09.500
obviously to get more and more gets more
expensive in

0:22:09.500,0:22:14.850
am a premium Canada crossover right it’s
like it some point how green tea need to

0:22:14.850,0:22:15.230
be

0:22:15.230,0:22:19.420
you know it’s like the the extra costs
really in the long run over 30 years

0:22:19.420,0:22:23.480
probably isn’t worth it break but the
Millennials really do appreciate this

0:22:23.480,0:22:24.810
and I think this year and

0:22:24.810,0:22:28.260
in training in the future the house is
that people are buying now littered

0:22:28.260,0:22:29.050
green

0:22:29.050,0:22:32.560
are going to be the ones people
gravitate towards in the future as we

0:22:32.560,0:22:33.720
continue to see in

0:22:33.720,0:22:38.320
increases in utility expenses in course
Millennials getting older and moving

0:22:38.320,0:22:41.960
from the basement you know that’s what
they were saying last year there and yes

0:22:41.960,0:22:46.310
yes you’re shared roommate situation
this year we’re in the roommate

0:22:46.310,0:22:47.180
situation

0:22:47.180,0:22:51.000
naturally the you know the length of
time will be

0:22:51.000,0:22:54.570
going into the market in a couple years
saying you know what you wanna buy one

0:22:54.570,0:22:55.450
of these houses well

0:22:55.450,0:22:58.990
in you know we could do a whole show
just on the homeowner maloney

0:22:58.990,0:23:03.300
saying in the transition in the fact
that they are larger population

0:23:03.300,0:23:06.470
then the baby boomers I don’t know if
people know than others eighty

0:23:06.470,0:23:11.890
ending eighty million yields in this
generation and 60 to 65

0:23:11.890,0:23:15.350
billion a.m. baby boomers sonya

0:23:15.350,0:23:20.050
and most people don’t own a house no we
don’t

0:23:20.050,0:23:25.100
in this economy here yes there in the
ice is right

0:23:25.100,0:23:29.580
well thanks Aaron Henry yes for for
obviously hosting with those producing

0:23:29.580,0:23:30.190
for us

0:23:30.190,0:23:33.390
pleasure this is Ben Albuquerque real
estate talk here

0:23:33.390,0:23:37.300
on k I the a radio 95.9% FM a.m.

0:23:37.300,0:23:41.550
1600 in if you want to reach out to us
the venturi team at Keller Williams

0:23:41.550,0:23:42.430
Realty

0:23:42.430,0:23:46.560
were at 933 68 81 or welcome home

0:23:46.560,0:23:47.920
BBQ dot com

Albuquerque Real Estate Talk Radio Show for March 14, 2015

Albuquerque Real Estate Radio

Albuquerque Real Estate Talk Radio shoe for March 14, 2015. Appraisals and how a homes value is determined.

Transcript:

0:00:06.629,0:00:10.150
good morning and welcome back to market
makers and risk takers here on

0:00:10.150,0:00:11.210
ABQ.FM

0:00:11.210,0:00:14.460
I near her slaney semantic work along
with Aaron Henry

0:00:14.460,0:00:18.960
years and we are here with Tego
with the venturi team Realtors with Keller

0:00:18.960,0:00:20.260
Williams good morning

0:00:20.260,0:00:23.430
good morning lenient karen thanks yes

0:00:23.430,0:00:27.630
thanks again for having me I’m I’ll is
so great you know I did the show for

0:00:27.630,0:00:31.210
like a year by myself for with Tracy and
having you guys years just been

0:00:31.210,0:00:31.920
exploited

0:00:31.920,0:00:35.110
its creeks you have some really
interesting conversation so

0:00:35.110,0:00:39.320
thank you me enjoy it yeah yeah good
good know it’s it’s a great

0:00:39.320,0:00:42.690
great thing you guys do the Saturday
morning course afternoon show

0:00:42.690,0:00:46.530
Aaron Henry that you guys are you guys
are awesome you that bet that

0:00:46.530,0:00:47.510
twenty-minute serve

0:00:47.510,0:00:51.690
News at five o’clock it’s that’s great
that’s my upgrade day

0:00:51.690,0:00:56.250
you play okay now I read the round up
the 20/20 call it there it’s the

0:00:56.250,0:00:59.969
fastest 20 minutes in news the roundup
505

0:00:59.969,0:01:03.579
and I love you guys all commentary that
you throw in there every once in a while

0:01:03.579,0:01:07.229
new just a little color just anyway arm

0:01:07.229,0:01:11.020
so I have a special guest today we’re
gonna talk about home values I think

0:01:11.020,0:01:12.119
this can be a show

0:01:12.119,0:01:17.240
that you can rack is one that you know
if you’re curious about how home values

0:01:17.240,0:01:18.130
are determined

0:01:18.130,0:01:21.700
how to get the most for your home water
appraisers do

0:01:21.700,0:01:26.299
you know what is a what is in online
Valuation Tool there’s a thing I’m

0:01:26.299,0:01:30.290
deal called estimates were gonna talk
all about that but I have a a special

0:01:30.290,0:01:32.240
guest then it’s a bunch of Henry

0:01:32.240,0:01:35.829
was an appraiser here in Albuquerque
been an appraiser for

0:01:35.829,0:01:38.900
very long time your

0:01:38.900,0:01:40.520
first rodeo

0:01:40.520,0:01:43.780
I did this in the mid-eighties shot it
got itself

0:01:43.780,0:01:47.580
you know we all hear about appraisers
and you know they’re they’re rollin

0:01:47.580,0:01:50.700
in the the purchase process arm and I
think it’s

0:01:50.700,0:01:53.870
it somewhat misunderstood would you
agree with that months of very much so

0:01:53.870,0:01:58.170
your in in what your job is in the let’s
say the purchase process or the

0:01:58.170,0:02:02.560
refinance process absolutely were small
cog in the wheel but we become one of

0:02:02.560,0:02:03.430
those very

0:02:03.430,0:02:08.920
timely painful cards occasionally I can
be one with a broken cogs are one other

0:02:08.920,0:02:12.900
the the cog make a move faster I guess
it just depends in

0:02:12.900,0:02:16.160
arm yesterday is an important partner

0:02:16.160,0:02:19.790
you can about a sight out of mind to a
certain extent cuz you know

0:02:19.790,0:02:22.940
in the purchase process which is end up
with report from an appraiser

0:02:22.940,0:02:27.680
and then not tell most of the time it is
I mean week we typically call ourselves

0:02:27.680,0:02:31.080
aid Weller’s okay so let’s get right to
the spine so if

0:02:31.080,0:02:34.780
it do you wanna put your number so we
want to talk to you get get information

0:02:34.780,0:02:35.610
get an appraisal

0:02:35.610,0:02:38.890
allege survey if they want to know
website called him

0:02:38.890,0:02:44.840
I’m not techy enough K but my phone
number is here in Albuquerque 505

0:02:44.840,0:02:49.720
292 12:45 and the company is simply
residential appraisals

0:02:49.720,0:02:53.900
perfect okay in your involved at the
board here as well I know you you and I

0:02:53.900,0:02:55.459
serve on a board together there

0:02:55.459,0:03:00.580
regarding the MLS and will you know
appreciate that as workers we need

0:03:00.580,0:03:04.100
as a as a real estate community people
like you involved

0:03:04.100,0:03:07.100
I appreciate that sat on the board now
does

0:03:07.100,0:03:11.320
Southwest MLS Multiple Listing Service
for thirteen years now

0:03:11.320,0:03:16.190
while while I just wanna keep your show
I dis is a lame in a regular homeowner

0:03:16.190,0:03:19.720
I always was at when it when it comes
time for the appraiser is always a

0:03:19.720,0:03:21.630
little bit of a scary sorta

0:03:21.630,0:03:26.010
all the appraisers coming get everything
ready it’s it’s an essential part but

0:03:26.010,0:03:29.320
you’re saying is just one part of it is
just the natural flow but I think

0:03:29.320,0:03:31.989
there’s got to be a little bit a change
the mindset for people because

0:03:31.989,0:03:35.390
to get I think the latter little fear
going on new should be

0:03:35.390,0:03:39.840
there shouldn’t be any fear about the
appraisal process of course it it is a

0:03:39.840,0:03:43.050
bit of a mystery because we just kinda
show up and say

0:03:43.050,0:03:46.230
let me look in your cabinets in your
closet yeah look

0:03:46.230,0:03:49.609
everywhere and I’m going to determine
whether

0:03:49.609,0:03:51.819
the value is stated in your hand

0:03:51.819,0:03:54.930
and worthy yes are worthy in

0:03:54.930,0:03:59.200
also have quickly I mean there’s here in
New Mexico oil so no

0:03:59.200,0:04:03.090
you’ve been doing it for years but in
New Mexico I don’t think you

0:04:03.090,0:04:07.019
there you actually have to be license is
that true and actually in all states in

0:04:07.019,0:04:08.549
the country you have to be

0:04:08.549,0:04:11.810
unlicensed at some level is there is
stringent

0:04:11.810,0:04:15.200
regulatory arm burden when it deals with

0:04:15.200,0:04:18.590
appraisers your new mexico yes so %um

0:04:18.590,0:04:21.750
chime in there specially after 2000

0:04:21.750,0:04:26.410
a let’s say that change and some other
things change but a licensing has been

0:04:26.410,0:04:28.169
in place now since about ninety

0:04:28.169,0:04:32.080
1992 when we had the first really big
crash the S&L krakow

0:04:32.080,0:04:35.990
yeah and that’s when they first started
certifying appraisers and as I said I

0:04:35.990,0:04:37.919
started in the 80s lines here

0:04:37.919,0:04:42.020
pre licensing but we are actually
federally regulated

0:04:42.020,0:04:45.130
okay week the hot all highly under
banking laws

0:04:45.130,0:04:48.960
et cetera yeah I’m in and I wanna get
know the minutiae love

0:04:48.960,0:04:52.300
the rules and stuff but things did
drastically change for you

0:04:52.300,0:04:56.349
in your industry in latte 2008-2009
right

0:04:56.349,0:05:01.099
they basically cut off our ability to
communicate in 2008 yeah

0:05:01.099,0:05:03.810
yeah it’s been in we don’t want to get
into detail but it’s been interesting

0:05:03.810,0:05:04.810
for

0:05:04.810,0:05:08.849
appraiser so let let’s back up here what

0:05:08.849,0:05:12.030
let me ask you as an appraiser what

0:05:12.030,0:05:15.500
how do you determine the value of a home
in

0:05:15.500,0:05:19.000
in lemme establish one thing you don’t

0:05:19.000,0:05:22.530
as the appraiser establish value correct
correct

0:05:22.530,0:05:26.349
in in is it fair to say yes we report
market value

0:05:26.349,0:05:30.729
thank you so that debt I think a myth
that’s out there that everybody thinks

0:05:30.729,0:05:33.880
all the appraisers gonna tell me what my
home is worth

0:05:33.880,0:05:37.780
and that’s not necessarily the case
correct

0:05:37.780,0:05:40.930
perhaps the way I put in you agree with
me or not

0:05:40.930,0:05:44.150
months all is the appraisers job

0:05:44.150,0:05:48.759
is to determine if the bank is making a
safe loan

0:05:48.759,0:05:53.250
in essence it’s true yes I mean kids the
banks are going to loan

0:05:53.250,0:05:56.380
based on the appraised value not

0:05:56.380,0:06:00.240
necessarily what people are willing to
pay for the proper correct and those are

0:06:00.240,0:06:01.719
two different things fracture

0:06:01.719,0:06:02.780
so how tall

0:06:02.780,0:06:06.460
just a real quick snapshot Howard does
an appraiser determine when a home is

0:06:06.460,0:06:06.940
worth

0:06:06.940,0:06:10.880
well the first thing we learn and what
we call a square foot driven market

0:06:10.880,0:06:15.169
so the square footage is gonna come into
play and then your neighborhood and then

0:06:15.169,0:06:17.400
of course a condition of your property

0:06:17.400,0:06:20.810
that the the Sentul so you always want
to be looking at apt

0:06:20.810,0:06:24.990
have in that that thats condition have
the property that you can have because

0:06:24.990,0:06:27.360
we do notice at upgrades updates

0:06:27.360,0:06:31.450
and then the amenities the garage is a
bath rooms that sort of thing come into

0:06:31.450,0:06:31.910
play

0:06:31.910,0:06:36.090
yeah and you know I there something that
I think people get confused about

0:06:36.090,0:06:39.860
the appreciation a property isn’t
necessarily

0:06:39.860,0:06:44.050
the building buildings actually
depreciate correct correct

0:06:44.050,0:06:48.970
im so it goes back to that old location
location location thing right

0:06:48.970,0:06:52.460
that’s a big factor in so obviously

0:06:52.460,0:06:56.390
the exact name same house bill let’s say
some were in high desert

0:06:56.390,0:06:59.700
is going to be very different value than
a home-built

0:06:59.700,0:07:03.400
in gonna pick on any neighborhood but
let’s just say Ventana ranch just

0:07:03.400,0:07:03.919
because it’s

0:07:03.919,0:07:06.970
there you know very much different part
of town yeah

0:07:06.970,0:07:10.120
absolute extremes end and that’s totally
the case

0:07:10.120,0:07:13.890
and and of course a course a
custom-house versus what we call a

0:07:13.890,0:07:16.260
production house your your tract
builders

0:07:16.260,0:07:20.910
yep that’ll plays into a DOS of course I
read many appraisal reports and there’s

0:07:20.910,0:07:25.930
you know whatever 50 100 different
things that you guys have to document

0:07:25.930,0:07:30.960
at least yeah yeah and in what it would
have the big 12 said square footage

0:07:30.960,0:07:35.289
arm what other types of things are you
looking at compare to other homes will

0:07:35.289,0:07:37.700
talk to compare apples in a moment okay
sure

0:07:37.700,0:07:41.460
I mean that the things we really start
to look at it of course is

0:07:41.460,0:07:44.650
like I said the square footage the
location the neighborhood comes into

0:07:44.650,0:07:45.229
play

0:07:45.229,0:07:50.100
the number of garages: a big factor of
course is the number of bathrooms:

0:07:50.100,0:07:54.090
bedrooms play a little bit but mostly
that’s handled within the square footage

0:07:54.090,0:07:54.660
Chur

0:07:54.660,0:07:57.940
arm and their and you landscaping

0:07:57.940,0:08:02.570
in this is one that I get in debates
with other Realtors with actually is a

0:08:02.570,0:08:05.580
three bedroom house verses a
four-bedroom house if it’s the exact

0:08:05.580,0:08:07.930
same square foot in everything is the
same

0:08:07.930,0:08:11.640
I usually just tell people me the same

0:08:11.640,0:08:14.040
yeah there’s not a value difference to
me

0:08:14.040,0:08:18.550
yeah that a lot of builders will build
the same square footage with either 345

0:08:18.550,0:08:19.250
bedrooms

0:08:19.250,0:08:22.960
well it’s still the same square footage
rain and some people want bigger

0:08:22.960,0:08:25.040
bedrooms and some people want more
bedrooms

0:08:25.040,0:08:28.470
even other smaller so absolutely it’s
kinda it’s kind of a trade-off

0:08:28.470,0:08:32.380
arm let’s talk about compare apples
obviously we talk

0:08:32.380,0:08:36.150
in our industry we call on comp trade I
mean we all talk about Compton all kinds

0:08:36.150,0:08:36.830
of things but

0:08:36.830,0:08:40.850
E that is really where you go to to
determine

0:08:40.850,0:08:44.169
what the market value of a property is
correct yes

0:08:44.169,0:08:48.120
and how do you do that %uh very
carefully right

0:08:48.120,0:08:52.400
I know yes especially when we talk about
places like the North Valley

0:08:52.400,0:08:56.210
or maybe you know that there’s some
certain parts the town it’s pretty tough

0:08:56.210,0:09:00.680
absolutely if you’re in in in somewhere
like Ventana ranch that you brought up

0:09:00.680,0:09:01.220
it

0:09:01.220,0:09:04.720
tends to be a lot easier because one
other person he appraisers gonna do of

0:09:04.720,0:09:05.150
course

0:09:05.150,0:09:09.760
is we’re going to run it close to the
square footage in Ventana ranch you can

0:09:09.760,0:09:11.340
try to stay with the same builder

0:09:11.340,0:09:14.980
which means you get a similar quality
across all your your

0:09:14.980,0:09:20.030
comparable selections we’re gonna try to
stick with a similar age a similar style

0:09:20.030,0:09:25.120
if we can stick with 01 stories will do
that and compare one story to one story

0:09:25.120,0:09:29.130
if you can’t role will look at two
stories and find if there’s value

0:09:29.130,0:09:30.130
difference Chur

0:09:30.130,0:09:33.980
armed and sold that’s kind of where we
start but we we have to start with the

0:09:33.980,0:09:34.700
square footage

0:09:34.700,0:09:39.390
in the neighborhood not in in and then
again if you have a situation where it’s

0:09:39.390,0:09:40.150
at where you

0:09:40.150,0:09:43.880
unique home in a certain area you can
kinda expand from there but you have

0:09:43.880,0:09:44.560
very tight

0:09:44.560,0:09:48.410
rules and regulations regarding what you
can do correct he technically

0:09:48.410,0:09:53.040
yet but most almost everything
appraisers deal with his guidelines not

0:09:53.040,0:09:54.630
hard fast rules

0:09:54.630,0:09:57.880
I mean you can always right around an
issue like

0:09:57.880,0:10:02.260
you said the North Valley yeah um we’re
supposed to keep our comparable

0:10:02.260,0:10:04.260
selection in an urban area

0:10:04.260,0:10:08.700
within a half mile in the North Valley
that can’t happen yet since that’s

0:10:08.700,0:10:09.540
almost impossible

0:10:09.540,0:10:13.110
outsell in let me just say as a Realtor
we

0:10:13.110,0:10:17.700
generally we basically do the same thing
we do what we call the the CMA

0:10:17.700,0:10:18.540
comparative

0:10:18.540,0:10:22.520
for competitive market analysis I for
recall both things and im we do the same

0:10:22.520,0:10:22.990
thing

0:10:22.990,0:10:27.080
we look at okay would at home down the
street sell for that very compatible

0:10:27.080,0:10:27.590
with that

0:10:27.590,0:10:31.000
on down the street sell for this very
compatible and then we kinda

0:10:31.000,0:10:35.260
you know dig through it and filter out
what may be is a true compare bowler we

0:10:35.260,0:10:38.800
might add a little bit %uh valuer take a
little value way depending on

0:10:38.800,0:10:42.250
you know condition to the home we talk
about that if the home has landscaping

0:10:42.250,0:10:45.820
or not landscaping and in some things
make a big difference

0:10:45.820,0:10:49.240
in some things make no difference
whatsoever even though people may

0:10:49.240,0:10:52.480
think they do like a swimming pool is
that fair to say oh yes

0:10:52.480,0:10:56.440
yeah yeah it’s really get to talk about
all the mess in in legends and what’s

0:10:56.440,0:10:58.110
not many more in the next section

0:10:58.110,0:11:01.420
just before we and head out here on this
first break what

0:11:01.420,0:11:05.150
land must go ahead and give her call
numbers out in website culture

0:11:05.150,0:11:08.230
sure if you wanna our talk with us at:
go venturi with the

0:11:08.230,0:11:12.580
been to reteam with Keller Williams
Realty in our website is welcome home

0:11:12.580,0:11:15.890
a BBQ dot com our team line is

0:11:15.890,0:11:20.540
of 933 6881 and that’s our kinda realtor
on duty to

0:11:20.540,0:11:24.100
lines 0933 6881 there’s there should be
some in there to

0:11:24.100,0:11:28.260
help you out anytime even on Saturday
even on Sunday and even at you know

0:11:28.260,0:11:32.580
7 o’clock at night we get those calls so
or attacking real estate here with Tito

0:11:32.580,0:11:36.350
then Terry in you are listening to
ninety five point nine FM

0:11:36.350,0:11:43.350
and 16 any keeper we’ll be right back to
so much more I need the key data them

0:12:02.420,0:12:03.650
Saturday morning

0:12:03.650,0:12:07.540
with market makers and risk takers I’m
anything hun take work along with Aaron

0:12:07.540,0:12:09.640
Henry D is on ninety 5.9

0:12:09.640,0:12:15.600
FM in 1618 Kia if you haven’t downloaded
a app here AB ke .fm he should give it a

0:12:15.600,0:12:16.460
shot okay

0:12:16.460,0:12:19.560
backpack yeah day Desert Eagle venturi

0:12:19.560,0:12:23.880
yeah I know I’m I get it is the yeah

0:12:23.880,0:12:27.050
well that nothing’s awesome I think it’s
the future radio

0:12:27.050,0:12:31.630
I mean in you guys eternity in and I’m
sorry forget his name

0:12:31.630,0:12:35.870
does bats ke yeah burdine

0:12:35.870,0:12:39.090
the same oh yeah about yeah um

0:12:39.090,0:12:43.010
that things cool it really is it BBQ .fm
in

0:12:43.010,0:12:46.160
arm you guys just headed by two stations
on the

0:12:46.160,0:12:51.270
online right here fan of music stations
we have the Bloomberg network Fox News

0:12:51.270,0:12:53.880
and of course our listeners can listen
to you

0:12:53.880,0:12:58.180
are saturday lineup raat ki .fm ap every
week

0:12:58.180,0:13:01.570
exactly yeah sleazy she’s going down
thank you

0:13:01.570,0:13:05.790
I’m gonna download HQ to here show
tonight cabled

0:13:05.790,0:13:09.430
land frontage: so ok is we’ve been
talking about a

0:13:09.430,0:13:13.350
appraisals and and market values upon
how that would an appraiser does and how

0:13:13.350,0:13:16.260
it’s the term in one thing came up on
the break when we were chatting is

0:13:16.260,0:13:19.730
arm you’re hired as an appraiser and I’m
sorry

0:13:19.730,0:13:23.220
I should say when talking to absolutely
yeah i’m talking about. for henry who

0:13:23.220,0:13:23.570
sir

0:13:23.570,0:13:26.970
residential appraiser here in
Albuquerque been doing it for quite a

0:13:26.970,0:13:28.690
while so thanks again for being here

0:13:28.690,0:13:32.270
happen so in one of the things is that

0:13:32.270,0:13:37.000
his change sort of since 2000 a or at
least that’s been in force more

0:13:37.000,0:13:40.030
is that use an appraiser have to be
arms-length

0:13:40.030,0:13:44.430
from the actual loan officers are
cracked pretty much that’s a case week

0:13:44.430,0:13:46.240
we cannot actually interact

0:13:46.240,0:13:50.260
week we can talk to the loan officer
technically but we cannot talk

0:13:50.260,0:13:53.770
values so basically the lenders feel
that they shouldn’t topped with a dollop

0:13:53.770,0:13:55.140
most appraisers

0:13:55.140,0:13:58.320
feel that they should never be talking
to the lender either yeah

0:13:58.320,0:13:59.130
in

0:13:59.130,0:14:03.180
however you can talk with real estate
agent to greater degree again you can

0:14:03.180,0:14:04.910
talk values and I understand that right

0:14:04.910,0:14:08.230
if you have a copy of my appraisal
report and and

0:14:08.230,0:14:11.920
want to ask questions on it I’ll be
referring you back to your lender

0:14:11.920,0:14:16.660
I see understand I know it in in a
course with everything that blew up back

0:14:16.660,0:14:20.310
you know in the end the bubble arm you
know that was one of the things you got

0:14:20.310,0:14:22.030
cracked down on of course it wasn’t

0:14:22.030,0:14:26.230
widespread but it happened in there was
a little bit of stuff going on in

0:14:26.230,0:14:29.530
and you know some people went to jail
and you know

0:14:29.530,0:14:34.710
thats that some lenders and appraisers
yeah understand I understand so

0:14:34.710,0:14:38.180
I wanna just talk about something else

0:14:38.180,0:14:41.470
really quickly if you don’t mind it
regarding arm

0:14:41.470,0:14:44.720
inventory it because I’ve been

0:14:44.720,0:14:48.620
tracking you know i i do Obama the video
I put on our website going on you know

0:14:48.620,0:14:49.780
monthly market update

0:14:49.780,0:14:53.050
and won the things that really jumped
out at me the last two months is the

0:14:53.050,0:14:56.480
the inventory basically the number of
homes for sale

0:14:56.480,0:15:02.050
in our market and yet certain price
ranges in particular its it down quite a

0:15:02.050,0:15:02.950
bit mean

0:15:02.950,0:15:07.740
there’s less homes available to purchase
in the number buyers pretty much stayed

0:15:07.740,0:15:08.290
the same

0:15:08.290,0:15:12.090
said is that raised the prices other
homes eventually yes

0:15:12.090,0:15:16.000
if it if that trend continues and so we
do this thing called month supply

0:15:16.000,0:15:18.730
agreement Teresa basically means how
many if

0:15:18.730,0:15:22.450
if the had the same number buyers and
you had no new homes come on the market

0:15:22.450,0:15:25.570
how soon would you be out of homes to
sell in Seoul

0:15:25.570,0:15:30.160
and in your New Year’s heard the term by
buyers marker solar market right yes

0:15:30.160,0:15:31.080
okay so you know

0:15:31.080,0:15:34.300
generally six months is kinda the middle
that’s kinda

0:15:34.300,0:15:38.810
it’s neither nor well if you look in
Albuquerque we’ve dropped down below

0:15:38.810,0:15:42.700
right around five months supply for our
entire market

0:15:42.700,0:15:47.290
I mean there is a point there we were
what 18 months pumps all twenty months I

0:15:47.290,0:15:47.950
mean it was

0:15:47.950,0:15:51.120
yeah it was tough but in the two hundred
thousand dollars

0:15:51.120,0:15:54.680
under price range weird at three and a
half months supply

0:15:54.680,0:15:58.550
in one thing I found really fascinating
about that is

0:15:58.550,0:16:02.240
the average days on market has increased
a little bit which means

0:16:02.240,0:16:05.930
to me this summer those homes that were
just sitting there not selling because I

0:16:05.930,0:16:06.970
whatever issue

0:16:06.970,0:16:10.270
are starting to sell to do so I don’t
know this by

0:16:10.270,0:16:14.980
maybe just putting is a seasonal as well
let me know it’s busy season for

0:16:14.980,0:16:18.620
the whole industry usually this time
years when you have the most supply

0:16:18.620,0:16:22.430
right and you know so I don’t know
something to see a

0:16:22.430,0:16:25.550
listen now me just add to that date

0:16:25.550,0:16:28.730
if you look at the $400 and above the
jumps up to

0:16:28.730,0:16:33.130
its 11 months supply you look at 800,000
in above

0:16:33.130,0:16:37.600
27 months supply where you’re gone yes
%uh actually down

0:16:37.600,0:16:42.250
which is actually down right and I think
there’s quite a few in that kinda luxury

0:16:42.250,0:16:45.860
market people that have just don’t have
their home on the market with they would

0:16:45.860,0:16:47.550
sell if they were they could but

0:16:47.550,0:16:52.020
they’re just gonna stay for now
considers not that market was still tops

0:16:52.020,0:16:55.720
generally we should somebody asked me
you know housing market in Albuquerque

0:16:55.720,0:16:57.230
real estate market I say well

0:16:57.230,0:17:00.550
which market are you talking about hands
yeah and depends on the neighborhood

0:17:00.550,0:17:01.890
right but it all depends on

0:17:01.890,0:17:05.530
we’re talking about location so let’s
talk

0:17:05.530,0:17:08.600
about estimates moves

0:17:08.600,0:17:11.860
standing and customers customers at guys
I haven’t

0:17:11.860,0:17:15.740
okay guys cell big national website
Zillow

0:17:15.740,0:17:20.339
okay now extra seating the real estate
saying they’re they’re big national

0:17:20.339,0:17:23.270
site there there really a marketing
companies what they are they’re not

0:17:23.270,0:17:24.190
Realtors

0:17:24.190,0:17:27.950
what they do is they take our listings
the display I’m on their website and

0:17:27.950,0:17:30.420
they sell advertising back to pass as
Realtors

0:17:30.420,0:17:33.570
that’s a market that’s their business
planning at what they do

0:17:33.570,0:17:37.380
doing well it they’re doing really well
out yeah arm

0:17:37.380,0:17:40.590
yeah I mean they’re whatever 100 billion
dollar couple hundred million dollar

0:17:40.590,0:17:42.400
company not billions are million it

0:17:42.400,0:17:47.200
its day you know it’s a big ol thing arm
one of the unique things a

0:17:47.200,0:17:52.420
they created is a a piece of software
that doesn’t automated home value in so

0:17:52.420,0:17:53.000
with a

0:17:53.000,0:17:56.440
they’ve got some algorithms that look at
you know went on to star

0:17:56.440,0:17:59.960
for sale you know what the assessed
values are in a calm

0:17:59.960,0:18:03.130
crunches all these numbers and comes up
with this thing that the year

0:18:03.130,0:18:08.080
with their colleagues estimate mean it
automated home valuation system

0:18:08.080,0:18:11.860
a problem with that once all the one to
take that one well as were non sales

0:18:11.860,0:18:14.870
disclosure state which means that
information that they’re trying to

0:18:14.870,0:18:16.580
generate the numbers from ins

0:18:16.580,0:18:20.440
well based on third-party data that they
make aggregate

0:18:20.440,0:18:20.880
and

0:18:20.880,0:18:25.390
and their little arm estimate somewhat
the neighborhood should be selling for

0:18:25.390,0:18:29.900
thirty no sales data that they’re taking
that information yes aware

0:18:29.900,0:18:33.060
were willing what we call in on
self-disclosure state there seventeen

0:18:33.060,0:18:34.050
oven in the country

0:18:34.050,0:18:40.150
which means that sale home sale data
cannot be publicly displayed anywhere

0:18:40.150,0:18:43.160
hear that so there’s goin’ she and

0:18:43.160,0:18:47.390
in the dark sinead your name and in New
Mexico why is that because that’s just

0:18:47.390,0:18:48.440
the law

0:18:48.440,0:18:51.440
that’s been on the books for long time

0:18:51.440,0:18:55.130
forever pretty much its its New Mexico
particularly

0:18:55.130,0:18:58.310
they private property rights and they
want to keep it private

0:18:58.310,0:19:03.240
is that is that good is a good is a good
law or regulation for prop property I

0:19:03.240,0:19:07.470
I think so I mean think about your buyer
for home and you just bought the home in

0:19:07.470,0:19:10.950
in you know you don’t really wanna know
everybody did know what you pay for the

0:19:10.950,0:19:12.260
brain and I think it’s just a

0:19:12.260,0:19:16.510
that the privacy thing of course we
lived in this world a big data now so

0:19:16.510,0:19:18.590
there’s not a whole lot that’s private
anymore

0:19:18.590,0:19:22.360
Butler T can go and see what everybody’s
yeah exactly

0:19:22.360,0:19:25.530
right human decency their backyard

0:19:25.530,0:19:29.680
I’m so that delivers estimate is not
accurate it is not accurate

0:19:29.680,0:19:33.300
can Indian in so the reason I put that
out there is

0:19:33.300,0:19:36.310
unfortunately people that are buying
homes are selling homes

0:19:36.310,0:19:40.160
they go there they see it in all the
sudden they get stuck on that number

0:19:40.160,0:19:45.230
in really bright from Zillow’s website
it says they give her a ranking them by

0:19:45.230,0:19:47.130
state by state county by county

0:19:47.130,0:19:51.010
you know how accurate their quote
estimates are in New Mexico is the very

0:19:51.010,0:19:52.900
lowest in this is what it says it says

0:19:52.900,0:19:56.140
on able to compute zestimate: accurately

0:19:56.140,0:19:59.940
thats for all of New Mexico so in
there’s probably

0:19:59.940,0:20:04.630
a hundred thousand whatever mores online
auto estimate systems and there’s gonna

0:20:04.630,0:20:05.470
be out there

0:20:05.470,0:20:09.160
for Roberts really the way you determine
value

0:20:09.160,0:20:12.910
is a professional a professional they
can find that

0:20:12.910,0:20:16.540
much welcome home a DQ dot com right or
you can

0:20:16.540,0:20:19.610
and in some people will rate bonds are
hired appraiser

0:20:19.610,0:20:23.660
up front before they put their home on
the market cracked sometimes

0:20:23.660,0:20:27.990
yeah it’s expensive I mean it’s not
something I typically recommend because

0:20:27.990,0:20:31.070
we’re gonna charge you in that appraisal
we do is

0:20:31.070,0:20:34.330
then good for no other purpose except to
provide you a

0:20:34.330,0:20:38.390
number one a day yeah if you’re just
tuning in here listening to ninety five

0:20:38.390,0:20:43.700
point nine FM in 1618 key event i cant
TT Coventry friends and terry keenan

0:20:43.700,0:20:47.980
Realtors at Keller Williams and so want
to just get into real quick were

0:20:47.980,0:20:51.799
we have such a great discussion we’re
going going through our time so quickly

0:20:51.799,0:20:52.179
but

0:20:52.179,0:20:55.640
is you know how to get the most for your
home how much

0:20:55.640,0:20:59.159
you know how do you get the most value
when you sell your home we talked about

0:20:59.159,0:21:02.919
earlier that most value of the property
is in the land

0:21:02.919,0:21:05.620
to a certain extent obviously the
improvements have something to do with

0:21:05.620,0:21:07.799
it but most appreciation happened

0:21:07.799,0:21:11.639
in the location in the land but when you

0:21:11.639,0:21:15.510
get a home ready in you ready to sell it
you need to just do that mine shipped in

0:21:15.510,0:21:19.039
we’ve talked about this before that it
now it’s a product and now you

0:21:19.039,0:21:22.230
need to market that product its

0:21:22.230,0:21:26.159
in so you think about this way if you
sell a car and it’s dirty and it’s

0:21:26.159,0:21:26.929
stinky

0:21:26.929,0:21:30.429
you in you got the exact same car next
to it in its

0:21:30.429,0:21:34.260
blacks in its beautiful smells good
looks good you know which ones gonna

0:21:34.260,0:21:35.059
have more value

0:21:35.059,0:21:39.370
sure its it’s pretty simple in Fort Lee
some reason people miss that sometime

0:21:39.370,0:21:41.970
from they put their home on the market
right but absolutely

0:21:41.970,0:21:46.289
would what are the other big things you
would say bon solve it affect

0:21:46.289,0:21:49.500
the home’s value to basically bring the
value of

0:21:49.500,0:21:52.620
to bring it up you’re gonna wanna make
sure that you look at things like the

0:21:52.620,0:21:54.659
condition make sure your carpets are
clean

0:21:54.659,0:21:59.360
make make sure it’s tidied up it doesn’t
have a major impact on the pressure but

0:21:59.360,0:22:02.700
but just like anyone else going into the
property what we’re looking at how it

0:22:02.700,0:22:04.039
feels when you walk in the door

0:22:04.039,0:22:07.809
in you know you can tell it there’s been
some deferred maintenance just by the

0:22:07.809,0:22:09.260
condition of the home race

0:22:09.260,0:22:13.019
and I’m deferred maintenance does affect
value it does absolutely

0:22:13.019,0:22:17.029
N and it’s noticeable in if the the roof
is a perfectly you know if they’re a lot

0:22:17.029,0:22:18.380
a shingles are starting to it

0:22:18.380,0:22:22.769
to show curling are falling off it
deferred maintenance and it does

0:22:22.769,0:22:26.679
impact value yeah yeah as a if there
something happening there’s prior the

0:22:26.679,0:22:28.190
areas that have not gone

0:22:28.190,0:22:32.740
that see a side issue yeah so I just
want to bring up one less thing we’re

0:22:32.740,0:22:36.669
almost at a time but I want to highlight
a home a home for the week here is 28

0:22:36.669,0:22:40.919
its in the Tom Allegria neighborhood the
kashmiri where that is its

0:22:40.919,0:22:44.700
for it well it’s technically and burn a
Leo but it on the

0:22:44.700,0:22:47.640
the west side of the river so you feel
like you’re in Rio Rancho Buena

0:22:47.640,0:22:50.660
but it’s a it’s a 55-plus to community

0:22:50.660,0:22:54.940
it’s saddam there’s not we don’t have a
lot of those in the clinton Italian

0:22:54.940,0:22:59.050
active adult community it’s a Dell web
community I’m we have a home for sale in

0:22:59.050,0:23:01.450
there is listed for 276 nine

0:23:01.450,0:23:04.690
it’s a it’s a great neighborhood because
it’s arm

0:23:04.690,0:23:08.780
you know it’s it’s a beautiful community
and again we’re talking about location

0:23:08.780,0:23:11.070
location is wonderful if you want to be
in that

0:23:11.070,0:23:14.500
active adult lifestyle this is the place
to be

0:23:14.500,0:23:18.770
in its its really well done so you’re
interested in at home a time desert

0:23:18.770,0:23:22.020
willow court desert willow court just
give us call

0:23:22.020,0:23:27.520
at 933 6881 where at a time already this
was a great show

0:23:27.520,0:23:31.070
month of thanks for being here we really
appreciated in look forward to having

0:23:31.070,0:23:34.900
little bit more going on here on
Saturday morning AB keygen FM you listen

0:23:34.900,0:23:36.510
to any semantic work we’ll be right back

Albuquerque Real Estate Talk for March 7, 2015

On this weeks show, latest home design trends.

Transcript:

0:00:06.589,0:00:10.719
welcome back to this Saturday’s edition
and market makers in risk-takers I’m

0:00:10.719,0:00:13.880
your host lanie semantic work along with
Aaron Henry

0:00:13.880,0:00:19.119
years and we are here with Tito and
Tracy venturi other than terry keenan

0:00:19.119,0:00:22.289
Realtors at Keller Williams good morning
guys

0:00:22.289,0:00:25.930
good morning lanie great to be here
again thank you and you have a special

0:00:25.930,0:00:28.039
guest today said this exciting

0:00:28.039,0:00:32.710
did well as for me the city go I’ve got
a very special guest cuz

0:00:32.710,0:00:36.989
to she happens to be my sister but is
also excellent interior

0:00:36.989,0:00:40.890
designer designer in the the Phoenix
Scottsdale area

0:00:40.890,0:00:44.160
and just happen to be in town this
weekend so we thought gosh we’re gonna

0:00:44.160,0:00:45.800
drag your in here and talk about

0:00:45.800,0:00:49.440
on design I thought to be a great great
topic cell I G

0:00:49.440,0:00:54.920
venturi thanks for being here of thanks
for having me this is such a joy can’t

0:00:54.920,0:01:01.530
yeah I like a radio voice yeah mention
million terry’s man you cash

0:01:01.530,0:01:04.939
30 voice down to a tee it must be in

0:01:04.939,0:01:09.140
did in the jeans or something not like
at either I

0:01:09.140,0:01:12.030
he’s got the voice is only 180 air

0:01:12.030,0:01:16.299
here got came by the way 22 ND and and
everybody here

0:01:16.299,0:01:20.649
congratulations on the the new app the
yeah ABTI to them

0:01:20.649,0:01:24.390
I’ve been using it it’s great %um a
dust-up and on my

0:01:24.390,0:01:28.039
had mom i am. mobile phone joint that
desktop

0:01:28.039,0:01:31.240
best recalls grazing of Brett row it is
very cool

0:01:31.240,0:01:34.640
yeah yeah it’s pretty cool so thank you
so they’ll be listening to you on there

0:01:34.640,0:01:38.969
as well down on the app you can hear the
venturi team anywhere and everywhere

0:01:38.969,0:01:43.770
mom the so you know Tracy in II there’s
one thing I want to bring up just on

0:01:43.770,0:01:46.349
markets that they know they’re not that
exciting but

0:01:46.349,0:01:49.619
a the FHF a witch’s

0:01:49.619,0:01:53.000
the federal Housing Finance Authority

0:01:53.000,0:01:56.239
they’re the ones that oversees Fannie
and Freddie which do about

0:01:56.239,0:02:00.439
ninety-five percent of all the loans in
the country so there it’s pretty

0:02:00.439,0:02:01.920
important deal but they track

0:02:01.920,0:02:06.579
God metro areas and in prices and they
finally put out their 2014 numbers

0:02:06.579,0:02:11.489
and their tracked a 3 percent
appreciation in the Albuquerque market

0:02:11.489,0:02:11.819
for

0:02:11.819,0:02:14.870
for all homes so its it’s an interesting
number

0:02:14.870,0:02:18.569
I mean traces looking at me like that
doesn’t sound right well you know when

0:02:18.569,0:02:21.970
we look at it we think it’s about 1
percent so it’s interesting that

0:02:21.970,0:02:25.489
that stat was a little bit higher we’re
not really feeling it when we’re selling

0:02:25.489,0:02:26.019
homes

0:02:26.019,0:02:29.639
no know it it seems like Crystal City so
arm

0:02:29.639,0:02:33.569
let’s just jump right into home design
home trends

0:02:33.569,0:02:36.970
and again gee thanks for being here you

0:02:36.970,0:02:39.989
you do what type of work do you do in

0:02:39.989,0:02:44.639
and Phoenix and Scottsdale both our
residential and commercial design

0:02:44.639,0:02:48.530
for seventeen years now so I have a
pretty broad spectrum

0:02:48.530,0:02:52.569
nothing at Long I got scary numbers
seems like the couple days ago he

0:02:52.569,0:02:53.239
started doing

0:02:53.239,0:02:56.900
me tonight in your house when he knows
you’re going out what she making

0:02:56.900,0:02:57.940
everything really cool

0:02:57.940,0:03:01.579
you know it’s interesting I remember
talking about that’s what I’m gonna do

0:03:01.579,0:03:03.049
when I grow up like when

0:03:03.049,0:03:06.709
when you were really young yeah I
remember paintin my

0:03:06.709,0:03:11.280
badge am orange and purple and I thought
that was the coolest thing ever

0:03:11.280,0:03:15.019
and a you know with the Peter Max Payne
teens

0:03:15.019,0:03:18.290
thinkin in the seventies orange and
purple me now is it

0:03:18.290,0:03:22.170
was I’m stylin so actually let’s jump
right into that some for talking Caller

0:03:22.170,0:03:22.769
so what

0:03:22.769,0:03:27.040
where the hot design trends and in color
right now if somebody’s

0:03:27.040,0:03:31.349
either for the home or commercial well
so we’ve been in this

0:03:31.349,0:03:37.250
have been in s-phase have kinda old
world Tuscan style and people are tired

0:03:37.250,0:03:38.909
of it so they’re moving away from

0:03:38.909,0:03:42.909
and brown came back in a big way in the
past spout seven years

0:03:42.909,0:03:46.889
and people are just tired of it so
they’re moving away from the Browns is a

0:03:46.889,0:03:50.109
new channels and gray and kind graze the
new brown

0:03:50.109,0:03:56.019
and it really is so grady’s an not just
like a cement grey a real cool kinda

0:03:56.019,0:03:56.609
great but

0:03:56.609,0:04:00.450
the warm grays and so it’s a range of
pallets from light to dark

0:04:00.450,0:04:05.290
so that’s a neutral that I’m scene and
then rather than the red gold green

0:04:05.290,0:04:09.889
scheme that what works so well with the
brown they’re moving away from that into

0:04:09.889,0:04:13.129
boulder brighter pops of color

0:04:13.129,0:04:16.570
which of course work really well with
gray as a background

0:04:16.570,0:04:21.209
neutral and %uh so that’s the trend said
I’m seen in terms of color

0:04:21.209,0:04:25.280
in are that pops of color warm

0:04:25.280,0:04:30.690
grady’s white creams even now we know
how impractical that is Hannah

0:04:30.690,0:04:34.990
so far but they’re they are coming back
in you know it’s interesting cuz

0:04:34.990,0:04:38.740
we’ve you know wanna the Ranger here
this weekend is

0:04:38.740,0:04:42.310
we’re in the process have Bri design in
an office for for ourselves and you’re

0:04:42.310,0:04:43.909
going to help us with that so thank you

0:04:43.909,0:04:47.010
but you know we’ve been looking at a lot
a design stuff and that’s what I see

0:04:47.010,0:04:50.000
when I’m looking on Pinterest and all
these people oppose boards

0:04:50.000,0:04:53.580
about you know different different
things in design and that seems to be

0:04:53.580,0:04:53.870
you

0:04:53.870,0:04:58.580
where we’re going I was Danny say wanted
the topics that we really wanted to

0:04:58.580,0:04:59.550
cover today’s

0:04:59.550,0:05:03.830
and things you can do they’re like the
bang for the back so just you know what

0:05:03.830,0:05:04.860
can you do to kinda

0:05:04.860,0:05:08.300
for it brighten up your house and make
it more what today’s styles are in

0:05:08.300,0:05:10.800
probably paint and color is one of the
best

0:05:10.800,0:05:14.520
definitely bang for your back pain by
far is the number one

0:05:14.520,0:05:19.240
so what I know here in Albuquerque you
don’t have a lot a casement spec where

0:05:19.240,0:05:22.139
you do my recommendation is you go with
the white

0:05:22.139,0:05:25.290
or just to barely of light like a

0:05:25.290,0:05:28.820
on a Swiss coffee white on all of your
way

0:05:28.820,0:05:32.290
tram and then add your background tent

0:05:32.290,0:05:35.540
collar on the wall in if you’re going to
go into the gray

0:05:35.540,0:05:38.780
range make sure it’s a warm grey not a
cool grey don’t want it to feel

0:05:38.780,0:05:40.130
institutional

0:05:40.130,0:05:43.800
okay way just define warm versus call

0:05:43.800,0:05:48.070
eyes in the color palette so warm towns
have a non

0:05:48.070,0:05:52.780
warm colors are yellow or red orange so
it is undertones as the

0:05:52.780,0:05:57.430
ret red yellow orange versus cool towns
which have purple green

0:05:57.430,0:06:00.730
blue are the cool towns an

0:06:00.730,0:06:05.230
and and are great in certain contacts
but you don’t wanna to

0:06:05.230,0:06:08.280
and reread in those graze

0:06:08.280,0:06:12.570
cell got it that’s that’s what I you
wanna have some warm undertones so

0:06:12.570,0:06:17.780
when I say great you know kinda hope has
the long arm that actually has an orange

0:06:17.780,0:06:18.700
under town

0:06:18.700,0:06:22.470
most that helps your got it God so so
what else just

0:06:22.470,0:06:25.940
just to stop the paper had a mean what’s
happening in the design world what’s

0:06:25.940,0:06:26.940
really hot when

0:06:26.940,0:06:30.770
getting away from discolor overall
excuse me

0:06:30.770,0:06:34.240
I just started I almost choked so just
what

0:06:34.240,0:06:37.790
a moving away from the as I said earlier
the overall

0:06:37.790,0:06:44.790
had dark heavy car furnishings into
things that are more sleek contemporary

0:06:44.910,0:06:49.570
but not the contemporary that from pre
old-world phase

0:06:49.570,0:06:52.660
it’s kind of a planned vintage style

0:06:52.660,0:06:55.790
with reclaimed wood with

0:06:55.790,0:07:00.480
answer industrial Allemands they’re all
coming together to create this sordid

0:07:00.480,0:07:01.330
new

0:07:01.330,0:07:04.780
modern new vintage modern luck

0:07:04.780,0:07:08.850
and a fresher newer but again it’s not
this

0:07:08.850,0:07:12.930
cultures sleek you now black-and-white
its it’s a warmer luck

0:07:12.930,0:07:17.870
would you say done authenticity late
there’s more authenticity in

0:07:17.870,0:07:21.170
the furnishings and where’s yeah
medicide word yeah I

0:07:21.170,0:07:25.220
I think people they want a connection to
the past

0:07:25.220,0:07:28.450
and they want that definitely green
trans R answer

0:07:28.450,0:07:32.860
using reclaimed Allemands or elements
from the PEP Pratt past

0:07:32.860,0:07:36.680
is both green and also ties you to those
traditional

0:07:36.680,0:07:41.030
moments but then its reworked in a fresh
way with cleaner line so

0:07:41.030,0:07:44.580
the authenticity is a good word our you
think p.m.

0:07:44.580,0:07:49.759
the transit your scene Phoenix are apply
here and we’re just neighbors said that

0:07:49.759,0:07:50.530
over I’ll

0:07:50.530,0:07:54.270
definitely yeah I mean you guys have
your own kind of style

0:07:54.270,0:07:58.289
elements that we don’t have I’m but
there’s still

0:07:58.289,0:08:01.780
I think Oh definite bridge between our
our luxe

0:08:01.780,0:08:08.550
and dad so absolutely outdoor living
wise what

0:08:08.550,0:08:13.270
some morty I mean Phoenix’s similar to
us in this

0:08:13.270,0:08:16.810
in the sense that there’s a lot about
your living a course in the

0:08:16.810,0:08:20.440
summertime you guys Caleb outdoors right
pretty much well

0:08:20.440,0:08:24.190
you because we have your whole areas
yeah I’m

0:08:24.190,0:08:27.570
I’m reduces you can’t go outside summary

0:08:27.570,0:08:32.250
every house in Phoenix has a swimming
pool by the way lawyers that

0:08:32.250,0:08:36.000
yes so I’m we do actually live outdoors
a lot

0:08:36.000,0:08:39.690
you know I am very similar and outdoor
living spaces are

0:08:39.690,0:08:42.700
are huge in the Phoenix area’s as they
are I’m sure here

0:08:42.700,0:08:46.810
they are in intercourse week we get the
much cooler nights here in the summer

0:08:46.810,0:08:50.230
than you guys do you don’t really you
know it gets down to 105 at night or

0:08:50.230,0:08:50.830
something

0:08:50.830,0:08:54.070
here have much hope hot

0:08:54.070,0:08:57.600
okay are eager to know I’m a timeshare
in Scottsdale

0:08:57.600,0:09:01.400
and I know there on the golf course is 6
a.m. it’s like a hundred in eighteen

0:09:01.400,0:09:01.690
years

0:09:01.690,0:09:05.470
I give her a hard time

0:09:05.470,0:09:08.660
you stand the rain live there and of
course you know we love

0:09:08.660,0:09:11.680
New Mexico I’m shown as a crime in this
is home to me

0:09:11.680,0:09:16.569
and arm you know I love I do love our
climate is we do get those cool nights

0:09:16.569,0:09:21.420
in a warm summer days arm what do you
see happening with the outdoor design

0:09:21.420,0:09:22.689
though in in outdoor

0:09:22.689,0:09:26.550
you know living spaces what’s column
well they are just that they’re living

0:09:26.550,0:09:27.360
spaces so

0:09:27.360,0:09:30.600
rather than having a table and some
chairs there really are

0:09:30.600,0:09:35.529
living spaces so you have CD net creates
a conversation area maybe

0:09:35.529,0:09:40.509
anchored with a fire pit or I’m some
sort of water feature then you have

0:09:40.509,0:09:44.160
area for dining maybe an extended
outdoor kitchen

0:09:44.160,0:09:47.209
and then it connects to the house in
some way so

0:09:47.209,0:09:50.529
no in Phoenix I know we have a lot of
these a

0:09:50.529,0:09:53.910
glass curtain walls that can be polled
pull back so you have this

0:09:53.910,0:09:57.420
indoor outdoor space that’s great for
both

0:09:57.420,0:10:00.629
I am lounging in entered especially for
entertaining

0:10:00.629,0:10:04.259
so add I know that you have worked with

0:10:04.259,0:10:07.529
folks from the Albuquerque area who have
second homes

0:10:07.529,0:10:11.870
hmm in the Scottsdale and Phoenix Syrian
in a and just curious how that’s worked

0:10:11.870,0:10:13.880
for you and what you’ve seen it might be

0:10:13.880,0:10:17.009
am indifferent or challenging or Hell

0:10:17.009,0:10:21.160
how smooth it might work what’s grade I
love working with people from

0:10:21.160,0:10:23.009
Albuquerque me. minor things

0:10:23.009,0:10:28.300
we have access to design centers that
you guys don’t have so we’re able to

0:10:28.300,0:10:33.009
I’m touchy and feel fabrics friend
sheen’s assessor is that you might not

0:10:33.009,0:10:35.209
have access to know so it’s just

0:10:35.209,0:10:38.290
it gives saddam now extends the range
have

0:10:38.290,0:10:41.630
what we can design and of course in a
local

0:10:41.630,0:10:46.880
isn’t fixed an event we I have products
at my fingertips nationally and and

0:10:46.880,0:10:48.160
beyond so it’s

0:10:48.160,0:10:51.350
it’s great to work with folks Malba kar
ke

0:10:51.350,0:10:54.399
we’re gonna um we’re gonna take a break
here in a minute

0:10:54.399,0:10:58.399
if you just joined us we’re we’re the
venturi team with Keller Williams Realty

0:10:58.399,0:10:59.309
this is our

0:10:59.309,0:11:03.529
our show and Laney I’m taking your your
spot I used to do this all myself so I’m

0:11:03.529,0:11:05.339
its did I gotta get use to our

0:11:05.339,0:11:08.410
achievement in ninety five point nine FM
yet

0:11:08.410,0:11:12.639
yankee yeah if you want to talk real
estate here in Albuquerque market you

0:11:12.639,0:11:14.000
can call us at nine

0:11:14.000,0:11:18.240
33 sixty 81 and our website is welcome
home

0:11:18.240,0:11:22.079
a BQ dot com we take a break we’re gonna
come back and talk about

0:11:22.079,0:11:26.920
arm more about home design but also lost
a gene in

0:11:26.920,0:11:30.459
in designing your home to sell it to
make it a marketable product

0:11:30.459,0:11:34.319
excellent thank you so much we’ll be
right back any be queued up

0:11:34.319,0:11:37.480
when we have on the home other week
thank you all we left the

0:11:37.480,0:11:40.589
to showcase what we recently listed for
sale

0:11:40.589,0:11:44.319
and we listed to really fun properties
this week once in and collar village

0:11:44.319,0:11:46.160
which is a little gated neighborhood
near

0:11:46.160,0:11:50.199
bear Canyon Arroyo and open space there
and it’s a fairly new house for the

0:11:50.199,0:11:52.250
northeast heights it’s a single-story

0:11:52.250,0:11:56.819
I listed it 260,000 probably will sell
pretty quick little gated neighborhood

0:11:56.819,0:11:58.430
nice n updated finishes

0:11:58.430,0:12:02.839
which is the topic and today and another
one in seven bar North penetrate a civil

0:12:02.839,0:12:03.600
high school

0:12:03.600,0:12:08.139
rescue the corner from Intel place to
story with backyard access it’s really

0:12:08.139,0:12:09.720
clean and ready to go

0:12:09.720,0:12:15.110
at 195 so great price it on our website
and check them out that those houses in

0:12:15.110,0:12:16.509
all the others welcome home

0:12:16.509,0:12:20.759
BBQ dot com or give us a call obviously
we love to talk about religious

0:12:20.759,0:12:23.779
you know so we’ve been talking about you
know design trends and stuff really

0:12:23.779,0:12:26.149
interesting about color and where that’s
going on I guess

0:12:26.149,0:12:29.689
like we said we’ve seen that big razor
are really hot right now

0:12:29.689,0:12:33.510
with fifty shades in them

0:12:33.510,0:12:36.670
I just had tea I’ll was 180 lab
technician

0:12:36.670,0:12:40.210
hidden somewhere means being inside

0:12:40.210,0:12:44.200
you know current yeah yeah married in
any manner see

0:12:44.200,0:12:47.930
I me okay okay hey okay so

0:12:47.930,0:12:51.690
what other you know things that are that
are real popular right now i i kno

0:12:51.690,0:12:54.630
flooring is always you know a big issue
for homes its

0:12:54.630,0:12:58.000
it’s actually won the most expensive
remodel projects you can do in your home

0:12:58.000,0:12:59.700
cuz you can’t spend anywhere from

0:12:59.700,0:13:02.970
three dollars a square for to twenty
dollars a square foot right while

0:13:02.970,0:13:06.660
I’m sure you probably you new ones that
are more than twenty dollars square foot

0:13:06.660,0:13:10.920
but but what’s really popular and
Florian right now

0:13:10.920,0:13:15.620
wood has been popular for I a little
while and it’s because the quality of

0:13:15.620,0:13:17.550
the engineered wood floors have

0:13:17.550,0:13:21.530
on some many many options and
manufactures out there

0:13:21.530,0:13:26.680
and many rangers have I engineered wood
on dates easy to install

0:13:26.680,0:13:30.960
super durable a wide range of colors in
with species

0:13:30.960,0:13:35.880
and I’m just looks beautiful and it’s
you know not as hard underfoot as say at

0:13:35.880,0:13:36.620
tile

0:13:36.620,0:13:41.300
or astound so people are really like in
word and then

0:13:41.300,0:13:47.020
speaking of Thailand’s down there also a
lot of wood porcelain tiles now

0:13:47.020,0:13:50.740
they give you the luck but not
necessarily the maintenance

0:13:50.740,0:13:54.140
I love a wood floor and people are
really liking

0:13:54.140,0:13:58.470
their just the ease the vet and the
local vet and those are

0:13:58.470,0:14:02.050
evolving as well were seen longer planks
and

0:14:02.050,0:14:06.200
a mix-up sizes just to give it more
authenticity

0:14:06.200,0:14:09.620
in the look of time you know Mindy they
look great I mean those

0:14:09.620,0:14:13.990
the porcelain would oh my gosh I mean so
many new homes are starting to use it

0:14:13.990,0:14:16.230
right up front even with custom home
builders in

0:14:16.230,0:14:20.190
in some track housing so the big-time
are using it and there’s just a wide

0:14:20.190,0:14:21.400
range of colors

0:14:21.400,0:14:26.050
out there com not every tiles the same
so it doesn’t look like it actually

0:14:26.050,0:14:26.900
looks like one

0:14:26.900,0:14:30.270
looks like wood but you don’t have to
clean it liquidates easy to clean

0:14:30.270,0:14:33.930
that’s right it seems like that’s
something people really want these days

0:14:33.930,0:14:34.840
in their homes

0:14:34.840,0:14:38.630
really easy to keep clean they don’t
wanna the allergen

0:14:38.630,0:14:44.120
in dust and dirt tell me for sure I’m
saving people moving away from carpeting

0:14:44.120,0:14:47.690
they are tired at the dow search harder
the allergen on

0:14:47.690,0:14:51.970
even and bhajans which is usually the
answer to the last holdout for

0:14:51.970,0:14:57.430
carpeting and just using area rugs to
have that land in space next year bad to

0:14:57.430,0:15:00.160
your feet don’t you know your bare feet
don’t land on

0:15:00.160,0:15:03.510
a hard surface you’re describing my
house right now

0:15:03.510,0:15:07.860
leadership course here in New Mexico we
got this cool thing called brick floors

0:15:07.860,0:15:08.450
which

0:15:08.450,0:15:12.990
which we personally love cover we have
in our house but burglars are very cool

0:15:12.990,0:15:16.830
initially you need New Mexico thing I
would say do you see those in

0:15:16.830,0:15:20.540
Phoenix its absolutely unique to your
area I it’s one a

0:15:20.540,0:15:24.670
and I love them and I don’t know why we
don’t do them in Phoenix but we just

0:15:24.670,0:15:25.520
down

0:15:25.520,0:15:30.690
and absolutely love them on when when
Jason came a Christmas he said why don’t

0:15:30.690,0:15:34.800
we have brick floors you they’re so easy
to maintain but it’s just not something

0:15:34.800,0:15:35.220
right

0:15:35.220,0:15:40.030
we do there coming from california i
when I came here my first home Henry

0:15:40.030,0:15:43.950
he in to be able to walk on those warm
tiles was just

0:15:43.950,0:15:47.660
absolutely stunning some channel that
Holmes hear that how those we do

0:15:47.660,0:15:50.850
actually ours has that and we love it
and the Petzl and yes

0:15:50.850,0:15:54.770
you can tell where the warm spots are
because the the animals gravitate

0:15:54.770,0:15:59.230
yeah sacame flooring concrete is also

0:15:59.230,0:16:04.380
still very hot I’m not always just in a
contemporary setting so there’s a lot of

0:16:04.380,0:16:06.070
finishes pas stain

0:16:06.070,0:16:11.030
encodings that you can do to concrete to
give it a lot a textured out

0:16:11.030,0:16:16.280
including I’m scribe in its you can
create patterns and designs and colors

0:16:16.280,0:16:21.310
and I it gives you you know a lot of
variety for not a lot of costs so

0:16:21.310,0:16:22.410
concrete is

0:16:22.410,0:16:27.610
very very popular in the Phoenix area
and I mention it is here as well

0:16:27.610,0:16:31.020
especially if you’re a in Flying Star
sadly happy

0:16:31.020,0:16:34.860
yeah they have a great artist that does
their stained concrete floors

0:16:34.860,0:16:39.260
her yeah the let’s talk about just
marketing

0:16:39.260,0:16:42.790
you know a product okay because that’s
what happens when someone puts ur

0:16:42.790,0:16:47.690
home for sale you know we we know to
home you’ve made memories aired that’s

0:16:47.690,0:16:48.370
all that’s

0:16:48.370,0:16:53.110
stop but all the sudden it goes on the
market and now it becomes a product

0:16:53.110,0:16:57.850
and in just like any other product you
have to merchandise that correct

0:16:57.850,0:17:02.410
absolutely so what I would say is in
this is true for myself in my own home

0:17:02.410,0:17:07.030
when you walk to your house day in and
day out you become blind to what’s there

0:17:07.030,0:17:12.100
you can’t see it and you don’t realize
how potentially cluttered I’m not saying

0:17:12.100,0:17:14.260
always but potentially clutter to be

0:17:14.260,0:17:19.780
can be calm and so someone it’s going to
sell their house the first thing they

0:17:19.780,0:17:20.709
need to do

0:17:20.709,0:17:24.020
is decliner and my recommendation is you

0:17:24.020,0:17:27.589
bring someone through with a fresh set
of eyes and you

0:17:27.589,0:17:31.870
try and listen to what their other
feedback they’re giving you not from a

0:17:31.870,0:17:35.660
personal standpoint but from an
objective standpoint in terms of sign

0:17:35.660,0:17:36.179
your home

0:17:36.179,0:17:39.940
course your real state agent would be
the perfect person source you same

0:17:39.940,0:17:44.350
don’t take it personally that’s what I’m
saying to cancer

0:17:44.350,0:17:48.429
don’t take it personally it really isn’t
an here said it’s an opportunity to pack

0:17:48.429,0:17:49.220
things up

0:17:49.220,0:17:53.390
organized go through stuff and put those
things away

0:17:53.390,0:17:58.170
so that you’re ready for your new home
new location and really just take things

0:17:58.170,0:17:59.230
and it’s gonna feel

0:17:59.230,0:18:03.250
bertie its gonna seems stripped its
gonna seems sterile

0:18:03.250,0:18:06.559
you know that you’ve got it right if it
feels that way

0:18:06.559,0:18:09.559
you know one thing we notice when we’re
doing um for

0:18:09.559,0:18:13.280
photographs of house of course
photographs are huge deal now in

0:18:13.280,0:18:16.340
in marketing homes because there would
be no ninety percent people are looking

0:18:16.340,0:18:17.360
for homes online

0:18:17.360,0:18:21.140
said or I think the numbers higher now
anyway the

0:18:21.140,0:18:24.670
the thing we see is this even if you’re
in this space

0:18:24.670,0:18:28.340
in you understand space better than me
it may not feel cluttered

0:18:28.340,0:18:31.929
but all of a sudden you put in his two
two-dimensional plane above for top

0:18:31.929,0:18:37.100
photograph and it looks everything jumps
out is all on a single plane it becomes

0:18:37.100,0:18:37.700
much more

0:18:37.700,0:18:42.650
clutter dizzy yaa yeah if you’re just
tuning in to you the VIN Terry team

0:18:42.650,0:18:45.020
you’re listening to ninety five point
nine FM

0:18:45.020,0:18:49.760
and 1600 in cuba in you can also
download our app a BQ .fm

0:18:49.760,0:18:53.480
thanks lady checks UN in if anybody
wants a college talk real estate again

0:18:53.480,0:18:54.330
our numbers

0:18:54.330,0:18:58.860
9336 a 81 in our website is welcome home

0:18:58.860,0:19:02.720
BBQ dot com absolutely so it’s weekend

0:19:02.720,0:19:05.850
we am we love to talk real estate so

0:19:05.850,0:19:10.090
hollis anytime we have a realtor on duty
at that number almost all the time so

0:19:10.090,0:19:11.310
feel free to call us

0:19:11.310,0:19:15.970
even if its you know Saturday Sunday
because probably where working

0:19:15.970,0:19:21.090
now ending back to our its so what other
things when somebody’s getting ready to

0:19:21.090,0:19:24.580
you know put their home on the market
other than the decline your mean I think

0:19:24.580,0:19:25.550
everybody here said

0:19:25.550,0:19:29.670
what other things can they do to really
make it become this

0:19:29.670,0:19:33.260
this really the to merchandise this
product that they’re putting on the

0:19:33.260,0:19:33.770
market

0:19:33.770,0:19:37.480
fresh paint yeah fresh paint absolutely

0:19:37.480,0:19:41.800
on take things off the counter that’s
cuz back to the decline during

0:19:41.800,0:19:46.980
I’m haps a professional either stay
jurors in many cases real state agent

0:19:46.980,0:19:47.960
can help

0:19:47.960,0:19:51.220
arrange the furniture in a way had

0:19:51.220,0:19:55.170
that maybe they you haven’t arranged a
bet walls

0:19:55.170,0:20:00.430
have it look more like a somebody coming
into the house could see their French

0:20:00.430,0:20:01.140
chains

0:20:01.140,0:20:04.260
be so a new range a new space plan

0:20:04.260,0:20:09.350
within a their living room you know one
thing that thing we always talk about it

0:20:09.350,0:20:10.400
you know where you wanna

0:20:10.400,0:20:15.600
have it so that potential buyer coming
in can see themselves living in this

0:20:15.600,0:20:16.640
home correct

0:20:16.640,0:20:21.140
exactly and so you know maybe they’d the
way you have the furniture works

0:20:21.140,0:20:25.250
for you and units livable for you but it
made no

0:20:25.250,0:20:28.890
it may be let’s say awkward Russian
buddy else

0:20:28.890,0:20:33.160
like 18 is another aspect that’s really
important so you wanna

0:20:33.160,0:20:37.810
make sure that you’re getting good the
most on natural light you can get in for

0:20:37.810,0:20:39.270
sin for mass but not

0:20:39.270,0:20:42.680
glaring natural light so if there’s %ah

0:20:42.680,0:20:46.370
sheer curtains you want those drawn on
but maybe not have

0:20:46.370,0:20:50.160
the drapes John or the blind John you
want to open it up to the outside as

0:20:50.160,0:20:52.930
much as possible adding that natural
light and

0:20:52.930,0:20:56.120
and and secondary light om as little

0:20:56.120,0:21:00.300
fluorescent light as possible all the
most either incandescent and/or

0:21:00.300,0:21:03.750
a halogen light one one thing I want to
mention its

0:21:03.750,0:21:07.630
it’s more than just for the seller in
obviously getting the most for their

0:21:07.630,0:21:08.440
home in

0:21:08.440,0:21:10.330
you know making a nice product

0:21:10.330,0:21:14.100
for the buyer to because you know the
buyer comes into our crazy cluttered

0:21:14.100,0:21:15.870
house with it’s dark

0:21:15.870,0:21:20.140
you know they can’t they can’t see it
then in maybe it’s the perfect home for

0:21:20.140,0:21:20.640
them

0:21:20.640,0:21:24.120
but they can’t see it through the fog
lights they

0:21:24.120,0:21:28.880
that’s absolutely true I didn’t realize
because I naturally see things in 3d and

0:21:28.880,0:21:29.540
I didn’t know

0:21:29.540,0:21:33.890
other people can’t do that so I can walk
into a cluttered space and see the blank

0:21:33.890,0:21:38.340
canvas but most people can’t do that so
you need to

0:21:38.340,0:21:42.040
stage in such a way that that buyer can
see themselves their

0:21:42.040,0:21:45.990
sewed can ever take up on that the whole
lighting thing is one of the things I’ve

0:21:45.990,0:21:49.250
noticed is we’ve got all these
energy-efficient bulbs now in our

0:21:49.250,0:21:52.650
houses and it really seems like they
don’t get brightener

0:21:52.650,0:21:56.130
to really show the house and so it’s
great that they’re all these

0:21:56.130,0:21:59.850
energy-efficient bulbs but it’s almost
like you need to change him out to sell

0:21:59.850,0:22:00.850
your house maybe

0:22:00.850,0:22:04.280
yeah but good light as I said is
essential

0:22:04.280,0:22:08.940
me to not have it be dingy and damn hall
where at it and you’re gonna have to

0:22:08.940,0:22:11.400
call in I think and feature at a sale

0:22:11.400,0:22:15.530
this little ass an awesome yeah it was
really great thank you so much for being

0:22:15.530,0:22:18.610
here they’ve been treating has expanded
many are all

0:22:18.610,0:22:23.530
eg inlay into an educated so much more
on Albuquerque real estate let’s get one

0:22:23.530,0:22:25.260
more around the web sites for

0:22:25.260,0:22:30.070
bowl sugar yes yes OR are main real
estate website here in Albuquerque home

0:22:30.070,0:22:31.270
search all that good stuff

0:22:31.270,0:22:35.190
welcome home a BBQ dot com Anna

0:22:35.190,0:22:38.100
in yeah you know of course you’re in
Phoenix but you know maybe there’s

0:22:38.100,0:22:39.799
somebody here that has a home over there

0:22:39.799,0:22:45.059
or maybe you know from Phoenix is
relocating to anarchy

0:22:45.059,0:22:48.750
the yeah absolutely my website is Gia
venturi

0:22:48.750,0:22:53.919
interiors stock com excellent thank you
so much for being here being on the show

0:22:53.919,0:22:58.240
being on market makers in risk-takers
you’re listening to a BBQ .fm

0:22:58.240,0:22:59.780
we’ll be right back the so much more