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.


good morning and welcome back to market
makers and risk takers here on


I near her slaney semantic work along
with Aaron Henry

years and we are here with Tego
with the venturi team Realtors with Keller

Williams good morning

good morning lenient karen thanks yes

thanks again for having me I’m I’ll is
so great you know I did the show for

like a year by myself for with Tracy and
having you guys years just been


its creeks you have some really
interesting conversation so

thank you me enjoy it yeah yeah good
good know it’s it’s a great

great thing you guys do the Saturday
morning course afternoon show

Aaron Henry that you guys are you guys
are awesome you that bet that

twenty-minute serve

News at five o’clock it’s that’s great
that’s my upgrade day

you play okay now I read the round up
the 20/20 call it there it’s the

fastest 20 minutes in news the roundup

and I love you guys all commentary that
you throw in there every once in a while

new just a little color just anyway arm

so I have a special guest today we’re
gonna talk about home values I think

this can be a show

that you can rack is one that you know
if you’re curious about how home values

are determined

how to get the most for your home water
appraisers do

you know what is a what is in online
Valuation Tool there’s a thing I’m

deal called estimates were gonna talk
all about that but I have a a special

guest then it’s a bunch of Henry

was an appraiser here in Albuquerque
been an appraiser for

very long time your

first rodeo

I did this in the mid-eighties shot it
got itself

you know we all hear about appraisers
and you know they’re they’re rollin

in the the purchase process arm and I
think it’s

it somewhat misunderstood would you
agree with that months of very much so

your in in what your job is in the let’s
say the purchase process or the

refinance process absolutely were small
cog in the wheel but we become one of

those very

timely painful cards occasionally I can
be one with a broken cogs are one other

the the cog make a move faster I guess
it just depends in

arm yesterday is an important partner

you can about a sight out of mind to a
certain extent cuz you know

in the purchase process which is end up
with report from an appraiser

and then not tell most of the time it is
I mean week we typically call ourselves

aid Weller’s okay so let’s get right to
the spine so if

it do you wanna put your number so we
want to talk to you get get information

get an appraisal

allege survey if they want to know
website called him

I’m not techy enough K but my phone
number is here in Albuquerque 505

292 12:45 and the company is simply
residential appraisals

perfect okay in your involved at the
board here as well I know you you and I

serve on a board together there

regarding the MLS and will you know
appreciate that as workers we need

as a as a real estate community people
like you involved

I appreciate that sat on the board now

Southwest MLS Multiple Listing Service
for thirteen years now

while while I just wanna keep your show
I dis is a lame in a regular homeowner

I always was at when it when it comes
time for the appraiser is always a

little bit of a scary sorta

all the appraisers coming get everything
ready it’s it’s an essential part but

you’re saying is just one part of it is
just the natural flow but I think

there’s got to be a little bit a change
the mindset for people because

to get I think the latter little fear
going on new should be

there shouldn’t be any fear about the
appraisal process of course it it is a

bit of a mystery because we just kinda
show up and say

let me look in your cabinets in your
closet yeah look

everywhere and I’m going to determine

the value is stated in your hand

and worthy yes are worthy in

also have quickly I mean there’s here in
New Mexico oil so no

you’ve been doing it for years but in
New Mexico I don’t think you

there you actually have to be license is
that true and actually in all states in

the country you have to be

unlicensed at some level is there is

regulatory arm burden when it deals with

appraisers your new mexico yes so %um

chime in there specially after 2000

a let’s say that change and some other
things change but a licensing has been

in place now since about ninety

1992 when we had the first really big
crash the S&L krakow

yeah and that’s when they first started
certifying appraisers and as I said I

started in the 80s lines here

pre licensing but we are actually
federally regulated

okay week the hot all highly under
banking laws

et cetera yeah I’m in and I wanna get
know the minutiae love

the rules and stuff but things did
drastically change for you

in your industry in latte 2008-2009

they basically cut off our ability to
communicate in 2008 yeah

yeah it’s been in we don’t want to get
into detail but it’s been interesting


appraiser so let let’s back up here what

let me ask you as an appraiser what

how do you determine the value of a home

in lemme establish one thing you don’t

as the appraiser establish value correct

in in is it fair to say yes we report
market value

thank you so that debt I think a myth
that’s out there that everybody thinks

all the appraisers gonna tell me what my
home is worth

and that’s not necessarily the case

perhaps the way I put in you agree with
me or not

months all is the appraisers job

is to determine if the bank is making a
safe loan

in essence it’s true yes I mean kids the
banks are going to loan

based on the appraised value not

necessarily what people are willing to
pay for the proper correct and those are

two different things fracture

so how tall

just a real quick snapshot Howard does
an appraiser determine when a home is


well the first thing we learn and what
we call a square foot driven market

so the square footage is gonna come into
play and then your neighborhood and then

of course a condition of your property

that the the Sentul so you always want
to be looking at apt

have in that that thats condition have
the property that you can have because

we do notice at upgrades updates

and then the amenities the garage is a
bath rooms that sort of thing come into


yeah and you know I there something that
I think people get confused about

the appreciation a property isn’t

the building buildings actually
depreciate correct correct

im so it goes back to that old location
location location thing right

that’s a big factor in so obviously

the exact name same house bill let’s say
some were in high desert

is going to be very different value than
a home-built

in gonna pick on any neighborhood but
let’s just say Ventana ranch just

because it’s

there you know very much different part
of town yeah

absolute extremes end and that’s totally
the case

and and of course a course a
custom-house versus what we call a

production house your your tract

yep that’ll plays into a DOS of course I
read many appraisal reports and there’s

you know whatever 50 100 different
things that you guys have to document

at least yeah yeah and in what it would
have the big 12 said square footage

arm what other types of things are you
looking at compare to other homes will

talk to compare apples in a moment okay

I mean that the things we really start
to look at it of course is

like I said the square footage the
location the neighborhood comes into


the number of garages: a big factor of
course is the number of bathrooms:

bedrooms play a little bit but mostly
that’s handled within the square footage


arm and their and you landscaping

in this is one that I get in debates
with other Realtors with actually is a

three bedroom house verses a
four-bedroom house if it’s the exact

same square foot in everything is the

I usually just tell people me the same

yeah there’s not a value difference to

yeah that a lot of builders will build
the same square footage with either 345


well it’s still the same square footage
rain and some people want bigger

bedrooms and some people want more

even other smaller so absolutely it’s
kinda it’s kind of a trade-off

arm let’s talk about compare apples
obviously we talk

in our industry we call on comp trade I
mean we all talk about Compton all kinds

of things but

E that is really where you go to to

what the market value of a property is
correct yes

and how do you do that %uh very
carefully right

I know yes especially when we talk about
places like the North Valley

or maybe you know that there’s some
certain parts the town it’s pretty tough

absolutely if you’re in in in somewhere
like Ventana ranch that you brought up


tends to be a lot easier because one
other person he appraisers gonna do of


is we’re going to run it close to the
square footage in Ventana ranch you can

try to stay with the same builder

which means you get a similar quality
across all your your

comparable selections we’re gonna try to
stick with a similar age a similar style

if we can stick with 01 stories will do
that and compare one story to one story

if you can’t role will look at two
stories and find if there’s value

difference Chur

armed and sold that’s kind of where we
start but we we have to start with the

square footage

in the neighborhood not in in and then
again if you have a situation where it’s

at where you

unique home in a certain area you can
kinda expand from there but you have

very tight

rules and regulations regarding what you
can do correct he technically

yet but most almost everything
appraisers deal with his guidelines not

hard fast rules

I mean you can always right around an
issue like

you said the North Valley yeah um we’re
supposed to keep our comparable

selection in an urban area

within a half mile in the North Valley
that can’t happen yet since that’s

almost impossible

outsell in let me just say as a Realtor

generally we basically do the same thing
we do what we call the the CMA


for competitive market analysis I for
recall both things and im we do the same


we look at okay would at home down the
street sell for that very compatible

with that

on down the street sell for this very
compatible and then we kinda

you know dig through it and filter out
what may be is a true compare bowler we

might add a little bit %uh valuer take a
little value way depending on

you know condition to the home we talk
about that if the home has landscaping

or not landscaping and in some things
make a big difference

in some things make no difference
whatsoever even though people may

think they do like a swimming pool is
that fair to say oh yes

yeah yeah it’s really get to talk about
all the mess in in legends and what’s

not many more in the next section

just before we and head out here on this
first break what

land must go ahead and give her call
numbers out in website culture

sure if you wanna our talk with us at:
go venturi with the

been to reteam with Keller Williams
Realty in our website is welcome home

a BBQ dot com our team line is

of 933 6881 and that’s our kinda realtor
on duty to

lines 0933 6881 there’s there should be
some in there to

help you out anytime even on Saturday
even on Sunday and even at you know

7 o’clock at night we get those calls so
or attacking real estate here with Tito

then Terry in you are listening to
ninety five point nine FM

and 16 any keeper we’ll be right back to
so much more I need the key data them

Saturday morning

with market makers and risk takers I’m
anything hun take work along with Aaron

Henry D is on ninety 5.9

FM in 1618 Kia if you haven’t downloaded
a app here AB ke .fm he should give it a

shot okay

backpack yeah day Desert Eagle venturi

yeah I know I’m I get it is the yeah

well that nothing’s awesome I think it’s
the future radio

I mean in you guys eternity in and I’m
sorry forget his name

does bats ke yeah burdine

the same oh yeah about yeah um

that things cool it really is it BBQ .fm

arm you guys just headed by two stations
on the

online right here fan of music stations
we have the Bloomberg network Fox News

and of course our listeners can listen
to you

are saturday lineup raat ki .fm ap every

exactly yeah sleazy she’s going down
thank you

I’m gonna download HQ to here show
tonight cabled

land frontage: so ok is we’ve been
talking about a

appraisals and and market values upon
how that would an appraiser does and how

it’s the term in one thing came up on
the break when we were chatting is

arm you’re hired as an appraiser and I’m

I should say when talking to absolutely
yeah i’m talking about. for henry who


residential appraiser here in
Albuquerque been doing it for quite a

while so thanks again for being here

happen so in one of the things is that

his change sort of since 2000 a or at
least that’s been in force more

is that use an appraiser have to be

from the actual loan officers are
cracked pretty much that’s a case week

we cannot actually interact

week we can talk to the loan officer
technically but we cannot talk

values so basically the lenders feel
that they shouldn’t topped with a dollop

most appraisers

feel that they should never be talking
to the lender either yeah


however you can talk with real estate
agent to greater degree again you can

talk values and I understand that right

if you have a copy of my appraisal
report and and

want to ask questions on it I’ll be
referring you back to your lender

I see understand I know it in in a
course with everything that blew up back

you know in the end the bubble arm you
know that was one of the things you got

cracked down on of course it wasn’t

widespread but it happened in there was
a little bit of stuff going on in

and you know some people went to jail
and you know

thats that some lenders and appraisers
yeah understand I understand so

I wanna just talk about something else

really quickly if you don’t mind it
regarding arm

inventory it because I’ve been

tracking you know i i do Obama the video
I put on our website going on you know

monthly market update

and won the things that really jumped
out at me the last two months is the

the inventory basically the number of
homes for sale

in our market and yet certain price
ranges in particular its it down quite a

bit mean

there’s less homes available to purchase
in the number buyers pretty much stayed

the same

said is that raised the prices other
homes eventually yes

if it if that trend continues and so we
do this thing called month supply

agreement Teresa basically means how
many if

if the had the same number buyers and
you had no new homes come on the market

how soon would you be out of homes to
sell in Seoul

and in your New Year’s heard the term by
buyers marker solar market right yes

okay so you know

generally six months is kinda the middle
that’s kinda

it’s neither nor well if you look in
Albuquerque we’ve dropped down below

right around five months supply for our
entire market

I mean there is a point there we were
what 18 months pumps all twenty months I

mean it was

yeah it was tough but in the two hundred
thousand dollars

under price range weird at three and a
half months supply

in one thing I found really fascinating
about that is

the average days on market has increased
a little bit which means

to me this summer those homes that were
just sitting there not selling because I

whatever issue

are starting to sell to do so I don’t
know this by

maybe just putting is a seasonal as well
let me know it’s busy season for

the whole industry usually this time
years when you have the most supply

right and you know so I don’t know
something to see a

listen now me just add to that date

if you look at the $400 and above the
jumps up to

its 11 months supply you look at 800,000
in above

27 months supply where you’re gone yes
%uh actually down

which is actually down right and I think
there’s quite a few in that kinda luxury

market people that have just don’t have
their home on the market with they would

sell if they were they could but

they’re just gonna stay for now
considers not that market was still tops

generally we should somebody asked me
you know housing market in Albuquerque

real estate market I say well

which market are you talking about hands
yeah and depends on the neighborhood

right but it all depends on

we’re talking about location so let’s

about estimates moves

standing and customers customers at guys
I haven’t

okay guys cell big national website

okay now extra seating the real estate
saying they’re they’re big national

site there there really a marketing
companies what they are they’re not


what they do is they take our listings
the display I’m on their website and

they sell advertising back to pass as

that’s a market that’s their business
planning at what they do

doing well it they’re doing really well
out yeah arm

yeah I mean they’re whatever 100 billion
dollar couple hundred million dollar

company not billions are million it

its day you know it’s a big ol thing arm
one of the unique things a

they created is a a piece of software
that doesn’t automated home value in so

with a

they’ve got some algorithms that look at
you know went on to star

for sale you know what the assessed
values are in a calm

crunches all these numbers and comes up
with this thing that the year

with their colleagues estimate mean it
automated home valuation system

a problem with that once all the one to
take that one well as were non sales

disclosure state which means that
information that they’re trying to

generate the numbers from ins

well based on third-party data that they
make aggregate


and their little arm estimate somewhat
the neighborhood should be selling for

thirty no sales data that they’re taking
that information yes aware

were willing what we call in on
self-disclosure state there seventeen

oven in the country

which means that sale home sale data
cannot be publicly displayed anywhere

hear that so there’s goin’ she and

in the dark sinead your name and in New
Mexico why is that because that’s just

the law

that’s been on the books for long time

forever pretty much its its New Mexico

they private property rights and they
want to keep it private

is that is that good is a good is a good
law or regulation for prop property I

I think so I mean think about your buyer
for home and you just bought the home in

in you know you don’t really wanna know
everybody did know what you pay for the

brain and I think it’s just a

that the privacy thing of course we
lived in this world a big data now so

there’s not a whole lot that’s private

Butler T can go and see what everybody’s
yeah exactly

right human decency their backyard

I’m so that delivers estimate is not
accurate it is not accurate

can Indian in so the reason I put that
out there is

unfortunately people that are buying
homes are selling homes

they go there they see it in all the
sudden they get stuck on that number

in really bright from Zillow’s website
it says they give her a ranking them by

state by state county by county

you know how accurate their quote
estimates are in New Mexico is the very

lowest in this is what it says it says

on able to compute zestimate: accurately

thats for all of New Mexico so in
there’s probably

a hundred thousand whatever mores online
auto estimate systems and there’s gonna

be out there

for Roberts really the way you determine

is a professional a professional they
can find that

much welcome home a DQ dot com right or
you can

and in some people will rate bonds are
hired appraiser

up front before they put their home on
the market cracked sometimes

yeah it’s expensive I mean it’s not
something I typically recommend because

we’re gonna charge you in that appraisal
we do is

then good for no other purpose except to
provide you a

number one a day yeah if you’re just
tuning in here listening to ninety five

point nine FM in 1618 key event i cant
TT Coventry friends and terry keenan

Realtors at Keller Williams and so want
to just get into real quick were

we have such a great discussion we’re
going going through our time so quickly


is you know how to get the most for your
home how much

you know how do you get the most value
when you sell your home we talked about

earlier that most value of the property
is in the land

to a certain extent obviously the
improvements have something to do with

it but most appreciation happened

in the location in the land but when you

get a home ready in you ready to sell it
you need to just do that mine shipped in

we’ve talked about this before that it
now it’s a product and now you

need to market that product its

in so you think about this way if you
sell a car and it’s dirty and it’s


you in you got the exact same car next
to it in its

blacks in its beautiful smells good
looks good you know which ones gonna

have more value

sure its it’s pretty simple in Fort Lee
some reason people miss that sometime

from they put their home on the market
right but absolutely

would what are the other big things you
would say bon solve it affect

the home’s value to basically bring the
value of

to bring it up you’re gonna wanna make
sure that you look at things like the

condition make sure your carpets are

make make sure it’s tidied up it doesn’t
have a major impact on the pressure but

but just like anyone else going into the
property what we’re looking at how it

feels when you walk in the door

in you know you can tell it there’s been
some deferred maintenance just by the

condition of the home race

and I’m deferred maintenance does affect
value it does absolutely

N and it’s noticeable in if the the roof
is a perfectly you know if they’re a lot

a shingles are starting to it

to show curling are falling off it
deferred maintenance and it does

impact value yeah yeah as a if there
something happening there’s prior the

areas that have not gone

that see a side issue yeah so I just
want to bring up one less thing we’re

almost at a time but I want to highlight
a home a home for the week here is 28

its in the Tom Allegria neighborhood the
kashmiri where that is its

for it well it’s technically and burn a
Leo but it on the

the west side of the river so you feel
like you’re in Rio Rancho Buena

but it’s a it’s a 55-plus to community

it’s saddam there’s not we don’t have a
lot of those in the clinton Italian

active adult community it’s a Dell web
community I’m we have a home for sale in

there is listed for 276 nine

it’s a it’s a great neighborhood because
it’s arm

you know it’s it’s a beautiful community
and again we’re talking about location

location is wonderful if you want to be
in that

active adult lifestyle this is the place
to be

in its its really well done so you’re
interested in at home a time desert

willow court desert willow court just
give us call

at 933 6881 where at a time already this
was a great show

month of thanks for being here we really
appreciated in look forward to having

little bit more going on here on
Saturday morning AB keygen FM you listen

to any semantic work we’ll be right back

Upcoming Albuquerque Area Open Houses

Albuquerque Open Houses

Here is the list of open houses scheduled for this weekend. Here are a few tips and etiquette to keep in mind if you are going to go out “Open House-ing”.

  • Do a little home work before heading out. Make a plan where you want to go and what you want to see on-line first.
  • Be polite and respectful to the host and home. People are letting you in their private space, respect that.  The host (Realtor or Owner) will most likely want to get your contact information, give it to them, If you already have an agent just let them know.
  • If you find a home you like, have YOUR Realtor schedule a follow up showing. This will avoid confusion on who is representing you.
  • DON’T make yourself at home… think of it as visiting a museum. Look but don’t touch. Keep your kids with you.
  • Hold your criticism. Not every home is for you and thats fine, just wait till you are back in your car to share.

Happy house hunting…

You can also browse out Open Houses Map.

23 matches found

View Photos (82)
Open House (04/05/2015 - 11:00 am)
# of Bedrooms: 4
# of Bathrooms: 5
Square Footage: 5624
Year Built: 2002
Area: 31 - Foothills North
Subdivision: Highlands/High Desert
Description: Situated on one of the most amazing lots in High Desert, this predominately...
Listing Office: Keller Williams Realty
Last Updated: March - 31 - 2015
View Photos (71)Virtual Tours (1)
Open House (04/04/2015 - 1:00 pm)
# of Bedrooms: 5
# of Bathrooms: 4
Square Footage: 4995
Year Built: 2008
Area: 110 - Northwest Heights
Subdivision: Oxbow Park
Description: Open house this Saturday (04/04) from 1pm to 3pm. Majestic views of the riv...
Listing Office: Keller Williams Realty
Last Updated: March - 31 - 2015
View Photos (65)
Open House (04/02/2015 - 4:00 pm)
# of Bedrooms: 3
# of Bathrooms: 3
Square Footage: 3970
Area: 111 - Ladera Heights
Subdivision: Westcliffe
Listing Office: Coldwell Banker Legacy
Last Updated: March - 26 - 2015
View Photos (100)Virtual Tours (1)
Open House (04/02/2015 - 4:00 pm)
# of Bedrooms: 4
# of Bathrooms: 4
Square Footage: 4388
Area: 111 - Ladera Heights
Subdivision: Grande Heights Addition
Description: Views! Views! Panoramic views! City lights! Custom built home with over 4,...
Listing Office: Civilian & Armed Forces RE
Last Updated: March - 30 - 2015
View Photos (33)Virtual Tours (1)
Open House (04/05/2015 - 1:00 pm)
# of Bedrooms: 5
# of Bathrooms: 3
Square Footage: 3443
Year Built: 2000
Area: 31 - Foothills North
Subdivision: Tierra Del Oso Sub/High Desert
Description: Great Buy High Desert!Upscale 5 BDRM the best in appts,the best in Design!M...
Listing Office: Re/Max Elite
Last Updated: March - 29 - 2015
View Photos (44)Virtual Tours (1)
Open House (04/05/2015 - 1:00 pm)
# of Bedrooms: 4
# of Bathrooms: 4
Square Footage: 3038
Year Built: 1999
Area: 31 - Foothills North
Subdivision: Tierra Del Oso at High Desert
Description: Immaculate home located in sought after HIGH DESERT! This home built by T &...
Listing Office: Coldwell Banker Legacy
Last Updated: March - 30 - 2015
View Photos (26)
Open House (04/04/2015 - 1:00 pm)
# of Bedrooms: 3
# of Bathrooms: 3
Square Footage: 3326
Year Built: 1976
Area: 180 - Placitas Area
Subdivision: Ranchos De Placitas Un 02
Description: OPEN HOUSE SATURDAY, APRIL 4th 1:00-3:30 Beautiful Placitas Home with Spec...
Listing Office: Signature Southwest Properties
Last Updated: March - 25 - 2015
View Photos (34)
Open House (04/03/2015 - 2:00 pm)
# of Bedrooms: 4
# of Bathrooms: 3
Square Footage: 2783
Year Built: 1981
Area: 130 - Corrales
Subdivision: Western Mesa
Description: Enjoy Fine Corrales Living on a quiet private road in the Heart of the Vill...
Listing Office: Coldwell Banker Legacy
Last Updated: March - 31 - 2015
View Photos (30)Virtual Tours (1)
Open House (04/02/2015 - 11:00 am)
# of Bedrooms: 3
# of Bathrooms: 2
Square Footage: 2058
Year Built: 1995
Area: 30 - Far NE Heights
Subdivision: Inverness/Tanoan Ph I
Description: Price Improvement! Dramatic open floor plan - raised ceiling, clerestory wi...
Listing Office: Coldwell Banker Legacy
Last Updated: March - 25 - 2015
View Photos (35)
Open House (04/04/2015 - 10:30 am)
# of Bedrooms: 3
# of Bathrooms: 3
Square Footage: 2657
Year Built: 1967
Area: 31 - Foothills North
Subdivision: Glenwood Hills Un 01
Description: Custom Built home with updating which includes the windows, GE Profile stai...
Listing Office: Coldwell Banker Legacy
Last Updated: March - 31 - 2015

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Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

Albuquerque Real Estate Talk for March 7, 2015

On this weeks show, latest home design trends.


welcome back to this Saturday’s edition
and market makers in risk-takers I’m

your host lanie semantic work along with
Aaron Henry

years and we are here with Tito and
Tracy venturi other than terry keenan

Realtors at Keller Williams good morning

good morning lanie great to be here
again thank you and you have a special

guest today said this exciting

did well as for me the city go I’ve got
a very special guest cuz

to she happens to be my sister but is
also excellent interior

designer designer in the the Phoenix
Scottsdale area

and just happen to be in town this
weekend so we thought gosh we’re gonna

drag your in here and talk about

on design I thought to be a great great
topic cell I G

venturi thanks for being here of thanks
for having me this is such a joy can’t

yeah I like a radio voice yeah mention
million terry’s man you cash

30 voice down to a tee it must be in

did in the jeans or something not like
at either I

he’s got the voice is only 180 air

here got came by the way 22 ND and and
everybody here

congratulations on the the new app the
yeah ABTI to them

I’ve been using it it’s great %um a
dust-up and on my

had mom i am. mobile phone joint that

best recalls grazing of Brett row it is
very cool

yeah yeah it’s pretty cool so thank you
so they’ll be listening to you on there

as well down on the app you can hear the
venturi team anywhere and everywhere

mom the so you know Tracy in II there’s
one thing I want to bring up just on

markets that they know they’re not that
exciting but

a the FHF a witch’s

the federal Housing Finance Authority

they’re the ones that oversees Fannie
and Freddie which do about

ninety-five percent of all the loans in
the country so there it’s pretty

important deal but they track

God metro areas and in prices and they
finally put out their 2014 numbers

and their tracked a 3 percent
appreciation in the Albuquerque market


for all homes so its it’s an interesting

I mean traces looking at me like that
doesn’t sound right well you know when

we look at it we think it’s about 1
percent so it’s interesting that

that stat was a little bit higher we’re
not really feeling it when we’re selling


no know it it seems like Crystal City so

let’s just jump right into home design
home trends

and again gee thanks for being here you

you do what type of work do you do in

and Phoenix and Scottsdale both our
residential and commercial design

for seventeen years now so I have a
pretty broad spectrum

nothing at Long I got scary numbers
seems like the couple days ago he

started doing

me tonight in your house when he knows
you’re going out what she making

everything really cool

you know it’s interesting I remember
talking about that’s what I’m gonna do

when I grow up like when

when you were really young yeah I
remember paintin my

badge am orange and purple and I thought
that was the coolest thing ever

and a you know with the Peter Max Payne

thinkin in the seventies orange and
purple me now is it

was I’m stylin so actually let’s jump
right into that some for talking Caller

so what

where the hot design trends and in color
right now if somebody’s

either for the home or commercial well
so we’ve been in this

have been in s-phase have kinda old
world Tuscan style and people are tired

of it so they’re moving away from

and brown came back in a big way in the
past spout seven years

and people are just tired of it so
they’re moving away from the Browns is a

new channels and gray and kind graze the
new brown

and it really is so grady’s an not just
like a cement grey a real cool kinda

great but

the warm grays and so it’s a range of
pallets from light to dark

so that’s a neutral that I’m scene and
then rather than the red gold green

scheme that what works so well with the
brown they’re moving away from that into

boulder brighter pops of color

which of course work really well with
gray as a background

neutral and %uh so that’s the trend said
I’m seen in terms of color

in are that pops of color warm

grady’s white creams even now we know
how impractical that is Hannah

so far but they’re they are coming back
in you know it’s interesting cuz

we’ve you know wanna the Ranger here
this weekend is

we’re in the process have Bri design in
an office for for ourselves and you’re

going to help us with that so thank you

but you know we’ve been looking at a lot
a design stuff and that’s what I see

when I’m looking on Pinterest and all
these people oppose boards

about you know different different
things in design and that seems to be


where we’re going I was Danny say wanted
the topics that we really wanted to

cover today’s

and things you can do they’re like the
bang for the back so just you know what

can you do to kinda

for it brighten up your house and make
it more what today’s styles are in

probably paint and color is one of the

definitely bang for your back pain by
far is the number one

so what I know here in Albuquerque you
don’t have a lot a casement spec where

you do my recommendation is you go with
the white

or just to barely of light like a

on a Swiss coffee white on all of your

tram and then add your background tent

collar on the wall in if you’re going to
go into the gray

range make sure it’s a warm grey not a
cool grey don’t want it to feel


okay way just define warm versus call

eyes in the color palette so warm towns
have a non

warm colors are yellow or red orange so
it is undertones as the

ret red yellow orange versus cool towns
which have purple green

blue are the cool towns an

and and are great in certain contacts
but you don’t wanna to

and reread in those graze

cell got it that’s that’s what I you
wanna have some warm undertones so

when I say great you know kinda hope has
the long arm that actually has an orange

under town

most that helps your got it God so so
what else just

just to stop the paper had a mean what’s
happening in the design world what’s

really hot when

getting away from discolor overall
excuse me

I just started I almost choked so just

a moving away from the as I said earlier
the overall

had dark heavy car furnishings into
things that are more sleek contemporary

but not the contemporary that from pre
old-world phase

it’s kind of a planned vintage style

with reclaimed wood with

answer industrial Allemands they’re all
coming together to create this sordid


modern new vintage modern luck

and a fresher newer but again it’s not

cultures sleek you now black-and-white
its it’s a warmer luck

would you say done authenticity late
there’s more authenticity in

the furnishings and where’s yeah
medicide word yeah I

I think people they want a connection to
the past

and they want that definitely green
trans R answer

using reclaimed Allemands or elements
from the PEP Pratt past

is both green and also ties you to those

moments but then its reworked in a fresh
way with cleaner line so

the authenticity is a good word our you
think p.m.

the transit your scene Phoenix are apply
here and we’re just neighbors said that

over I’ll

definitely yeah I mean you guys have
your own kind of style

elements that we don’t have I’m but
there’s still

I think Oh definite bridge between our
our luxe

and dad so absolutely outdoor living
wise what

some morty I mean Phoenix’s similar to
us in this

in the sense that there’s a lot about
your living a course in the

summertime you guys Caleb outdoors right
pretty much well

you because we have your whole areas
yeah I’m

I’m reduces you can’t go outside summary

every house in Phoenix has a swimming
pool by the way lawyers that

yes so I’m we do actually live outdoors
a lot

you know I am very similar and outdoor
living spaces are

are huge in the Phoenix area’s as they
are I’m sure here

they are in intercourse week we get the
much cooler nights here in the summer

than you guys do you don’t really you
know it gets down to 105 at night or


here have much hope hot

okay are eager to know I’m a timeshare
in Scottsdale

and I know there on the golf course is 6
a.m. it’s like a hundred in eighteen


I give her a hard time

you stand the rain live there and of
course you know we love

New Mexico I’m shown as a crime in this
is home to me

and arm you know I love I do love our
climate is we do get those cool nights

in a warm summer days arm what do you
see happening with the outdoor design

though in in outdoor

you know living spaces what’s column
well they are just that they’re living

spaces so

rather than having a table and some
chairs there really are

living spaces so you have CD net creates
a conversation area maybe

anchored with a fire pit or I’m some
sort of water feature then you have

area for dining maybe an extended
outdoor kitchen

and then it connects to the house in
some way so

no in Phoenix I know we have a lot of
these a

glass curtain walls that can be polled
pull back so you have this

indoor outdoor space that’s great for

I am lounging in entered especially for

so add I know that you have worked with

folks from the Albuquerque area who have
second homes

hmm in the Scottsdale and Phoenix Syrian
in a and just curious how that’s worked

for you and what you’ve seen it might be

am indifferent or challenging or Hell

how smooth it might work what’s grade I
love working with people from

Albuquerque me. minor things

we have access to design centers that
you guys don’t have so we’re able to

I’m touchy and feel fabrics friend
sheen’s assessor is that you might not

have access to know so it’s just

it gives saddam now extends the range

what we can design and of course in a

isn’t fixed an event we I have products
at my fingertips nationally and and

beyond so it’s

it’s great to work with folks Malba kar

we’re gonna um we’re gonna take a break
here in a minute

if you just joined us we’re we’re the
venturi team with Keller Williams Realty

this is our

our show and Laney I’m taking your your
spot I used to do this all myself so I’m

its did I gotta get use to our

achievement in ninety five point nine FM

yankee yeah if you want to talk real
estate here in Albuquerque market you

can call us at nine

33 sixty 81 and our website is welcome

a BQ dot com we take a break we’re gonna
come back and talk about

arm more about home design but also lost
a gene in

in designing your home to sell it to
make it a marketable product

excellent thank you so much we’ll be
right back any be queued up

when we have on the home other week
thank you all we left the

to showcase what we recently listed for

and we listed to really fun properties
this week once in and collar village

which is a little gated neighborhood

bear Canyon Arroyo and open space there
and it’s a fairly new house for the

northeast heights it’s a single-story

I listed it 260,000 probably will sell
pretty quick little gated neighborhood

nice n updated finishes

which is the topic and today and another
one in seven bar North penetrate a civil

high school

rescue the corner from Intel place to
story with backyard access it’s really

clean and ready to go

at 195 so great price it on our website
and check them out that those houses in

all the others welcome home

BBQ dot com or give us a call obviously
we love to talk about religious

you know so we’ve been talking about you
know design trends and stuff really

interesting about color and where that’s
going on I guess

like we said we’ve seen that big razor
are really hot right now

with fifty shades in them

I just had tea I’ll was 180 lab

hidden somewhere means being inside

you know current yeah yeah married in
any manner see

I me okay okay hey okay so

what other you know things that are that
are real popular right now i i kno

flooring is always you know a big issue
for homes its

it’s actually won the most expensive
remodel projects you can do in your home

cuz you can’t spend anywhere from

three dollars a square for to twenty
dollars a square foot right while

I’m sure you probably you new ones that
are more than twenty dollars square foot

but but what’s really popular and
Florian right now

wood has been popular for I a little
while and it’s because the quality of

the engineered wood floors have

on some many many options and
manufactures out there

and many rangers have I engineered wood
on dates easy to install

super durable a wide range of colors in
with species

and I’m just looks beautiful and it’s
you know not as hard underfoot as say at


or astound so people are really like in
word and then

speaking of Thailand’s down there also a
lot of wood porcelain tiles now

they give you the luck but not
necessarily the maintenance

I love a wood floor and people are
really liking

their just the ease the vet and the
local vet and those are

evolving as well were seen longer planks

a mix-up sizes just to give it more

in the look of time you know Mindy they
look great I mean those

the porcelain would oh my gosh I mean so
many new homes are starting to use it

right up front even with custom home
builders in

in some track housing so the big-time
are using it and there’s just a wide

range of colors

out there com not every tiles the same
so it doesn’t look like it actually

looks like one

looks like wood but you don’t have to
clean it liquidates easy to clean

that’s right it seems like that’s
something people really want these days

in their homes

really easy to keep clean they don’t
wanna the allergen

in dust and dirt tell me for sure I’m
saving people moving away from carpeting

they are tired at the dow search harder
the allergen on

even and bhajans which is usually the
answer to the last holdout for

carpeting and just using area rugs to
have that land in space next year bad to

your feet don’t you know your bare feet
don’t land on

a hard surface you’re describing my
house right now

leadership course here in New Mexico we
got this cool thing called brick floors


which we personally love cover we have
in our house but burglars are very cool

initially you need New Mexico thing I
would say do you see those in

Phoenix its absolutely unique to your
area I it’s one a

and I love them and I don’t know why we
don’t do them in Phoenix but we just


and absolutely love them on when when
Jason came a Christmas he said why don’t

we have brick floors you they’re so easy
to maintain but it’s just not something


we do there coming from california i
when I came here my first home Henry

he in to be able to walk on those warm
tiles was just

absolutely stunning some channel that
Holmes hear that how those we do

actually ours has that and we love it
and the Petzl and yes

you can tell where the warm spots are
because the the animals gravitate

yeah sacame flooring concrete is also

still very hot I’m not always just in a
contemporary setting so there’s a lot of

finishes pas stain

encodings that you can do to concrete to
give it a lot a textured out

including I’m scribe in its you can
create patterns and designs and colors

and I it gives you you know a lot of
variety for not a lot of costs so

concrete is

very very popular in the Phoenix area
and I mention it is here as well

especially if you’re a in Flying Star
sadly happy

yeah they have a great artist that does
their stained concrete floors

her yeah the let’s talk about just

you know a product okay because that’s
what happens when someone puts ur

home for sale you know we we know to
home you’ve made memories aired that’s

all that’s

stop but all the sudden it goes on the
market and now it becomes a product

and in just like any other product you
have to merchandise that correct

absolutely so what I would say is in
this is true for myself in my own home

when you walk to your house day in and
day out you become blind to what’s there

you can’t see it and you don’t realize
how potentially cluttered I’m not saying

always but potentially clutter to be

can be calm and so someone it’s going to
sell their house the first thing they

need to do

is decliner and my recommendation is you

bring someone through with a fresh set
of eyes and you

try and listen to what their other
feedback they’re giving you not from a

personal standpoint but from an
objective standpoint in terms of sign

your home

course your real state agent would be
the perfect person source you same

don’t take it personally that’s what I’m
saying to cancer

don’t take it personally it really isn’t
an here said it’s an opportunity to pack

things up

organized go through stuff and put those
things away

so that you’re ready for your new home
new location and really just take things

and it’s gonna feel

bertie its gonna seems stripped its
gonna seems sterile

you know that you’ve got it right if it
feels that way

you know one thing we notice when we’re
doing um for

photographs of house of course
photographs are huge deal now in

in marketing homes because there would
be no ninety percent people are looking

for homes online

said or I think the numbers higher now
anyway the

the thing we see is this even if you’re
in this space

in you understand space better than me
it may not feel cluttered

but all of a sudden you put in his two
two-dimensional plane above for top

photograph and it looks everything jumps
out is all on a single plane it becomes

much more

clutter dizzy yaa yeah if you’re just
tuning in to you the VIN Terry team

you’re listening to ninety five point
nine FM

and 1600 in cuba in you can also
download our app a BQ .fm

thanks lady checks UN in if anybody
wants a college talk real estate again

our numbers

9336 a 81 in our website is welcome home

BBQ dot com absolutely so it’s weekend

we am we love to talk real estate so

hollis anytime we have a realtor on duty
at that number almost all the time so

feel free to call us

even if its you know Saturday Sunday
because probably where working

now ending back to our its so what other
things when somebody’s getting ready to

you know put their home on the market
other than the decline your mean I think

everybody here said

what other things can they do to really
make it become this

this really the to merchandise this
product that they’re putting on the


fresh paint yeah fresh paint absolutely

on take things off the counter that’s
cuz back to the decline during

I’m haps a professional either stay
jurors in many cases real state agent

can help

arrange the furniture in a way had

that maybe they you haven’t arranged a
bet walls

have it look more like a somebody coming
into the house could see their French


be so a new range a new space plan

within a their living room you know one
thing that thing we always talk about it

you know where you wanna

have it so that potential buyer coming
in can see themselves living in this

home correct

exactly and so you know maybe they’d the
way you have the furniture works

for you and units livable for you but it
made no

it may be let’s say awkward Russian
buddy else

like 18 is another aspect that’s really
important so you wanna

make sure that you’re getting good the
most on natural light you can get in for

sin for mass but not

glaring natural light so if there’s %ah

sheer curtains you want those drawn on
but maybe not have

the drapes John or the blind John you
want to open it up to the outside as

much as possible adding that natural
light and

and and secondary light om as little

fluorescent light as possible all the
most either incandescent and/or

a halogen light one one thing I want to
mention its

it’s more than just for the seller in
obviously getting the most for their

home in

you know making a nice product

for the buyer to because you know the
buyer comes into our crazy cluttered

house with it’s dark

you know they can’t they can’t see it
then in maybe it’s the perfect home for


but they can’t see it through the fog
lights they

that’s absolutely true I didn’t realize
because I naturally see things in 3d and

I didn’t know

other people can’t do that so I can walk
into a cluttered space and see the blank

canvas but most people can’t do that so
you need to

stage in such a way that that buyer can
see themselves their

sewed can ever take up on that the whole
lighting thing is one of the things I’ve

noticed is we’ve got all these
energy-efficient bulbs now in our

houses and it really seems like they
don’t get brightener

to really show the house and so it’s
great that they’re all these

energy-efficient bulbs but it’s almost
like you need to change him out to sell

your house maybe

yeah but good light as I said is

me to not have it be dingy and damn hall
where at it and you’re gonna have to

call in I think and feature at a sale

this little ass an awesome yeah it was
really great thank you so much for being

here they’ve been treating has expanded
many are all

eg inlay into an educated so much more
on Albuquerque real estate let’s get one

more around the web sites for

bowl sugar yes yes OR are main real
estate website here in Albuquerque home

search all that good stuff

welcome home a BBQ dot com Anna

in yeah you know of course you’re in
Phoenix but you know maybe there’s

somebody here that has a home over there

or maybe you know from Phoenix is
relocating to anarchy

the yeah absolutely my website is Gia

interiors stock com excellent thank you
so much for being here being on the show

being on market makers in risk-takers
you’re listening to a BBQ .fm

we’ll be right back the so much more

Homes for Sale in Corrales Update

Corrales New Mexico homes for sale present great options in home ownership right now. It’s a beautiful time to visit Corrales with the fall harvest in full swing, Gus Wagner’s roasting green chiles, and the trees just starting to change color. If you’re not familiar with Corrales, it’s adjacent to the northwest corner of Albuquerque below Rio Rancho and next to the Rio Grande. Corrales is a slice of rural just minutes from most everywhere. There are condos for sale in Corrales that sit on the hillside looking out over the valley and Sandia Mountain and for some, this is the perfect home with low maintenance… sort of a great lock and leave concept, too.

When most people think of Corrales homes for sale, they think of horse properties and land. Corrales certianly does have it’s share of horses, along with sheep, chickens, goats, cows, llamas, dogs, cats, and other animals. In general, the lot sizes in Corrales are an acre or more. The village now prohibits subdividing parcels into anything smaller than an acre with the intent of keeping Corrales rural.

With the balloons in the air, many have ended up in Corrales and this is how some find this treasure of a Village. If you would like to learn more about Corrales, horse properties, or other rural places to live in the Albuquerque Metro Area, please call or email. We love showing off homes for sale in our area!

Albuquerque Real Estate Talk – September 13, 2013

Radio Show

Home Lending in Albuquerque

Albuquerque Real Estate Talk Sept 13, 2014


Tego:                                     Welcome to Small Business Saturday and Market Maker Risk Takers here on the rock of talk 959 FM/AM 1600 KIVA and this is Albuquerque Real Estate Talk. This is where we talk about residential real estate in the Albuquerque area and I’m your host with my co-host. I am Tego Venturi with Keller Williams Realty and my co-host Tracy Venturi with the Venturi Team and Keller Williams Realty. Well good morning Tracy!

Tracy:                                    Hey good morning Tego! We’re always happy to be here on Saturday.

Tego:                                     We have a guest today, we’re going to talk about home loans and you want to introduce our guest?

Tracy:                                    Sure this is Shawn Stringfellow! Welcome to our show this morning! Shawn’s with Loanstar Home Lending and we appreciate you being here.

Shawn:                                 Well thank you for having me, I appreciate it.

Tracy:                                    Yeah! So Shawn and I recently did a loan together, he helped out a buyer and pretty much did an amazing job and we thought it would be important to have him come on the show and share with you some of the knowledge so we’re going to learn a little bit more about what you do together here this morning.

Tego:                                     Shawn tell us a little bit about your background, you were telling us before the show here you’ve been in the real estate business and somewhere, another for  quite a long time, but tell us your background.

Shawn:                                 Yeah, I’ve been in the real estate business here in Albuquerque for over 30 years. I started my career in title when I was in college actually right out of high school. I worked in title for about 20 years and then for the past 12-13 years I’ve been in lending and now I’m branch manager for Loanstar Home Lending in Albuquerque.

Tego:                                     So you know, one of the part of the home purchase process and we talk about this all the time there’s a partnership and it’s interesting coz you hit on two of the three, one of them is a realtor, one of the is the title company and of course the third is the lender. And we all play our roles, us as a realtor and you the lender, a very important piece. So what does a lender do for the client or what does a mortgage broker, in your case mortgage, what’s the right term we call it?

Shawn:                                 Loan officer, lender, it goes by a lot of different things but our role in the transaction is to get your transaction on the opposing table, basically, I mean you guys write the contract, you negotiate the contract and our goal is to drive that bus to the closing table.

Tego:                                     Sure, sure, sure. And that, in part that processes you help the folks get their loan application in place, basically put the financing in place when they go to put an offer on a property they are basically a cash buyer to a certain extent because they’re going to have a loan to be able to purchase that home.

Shawn:                                 Right, if you don’t have your buyers pre-qualified or pre-approved by the time you’re showing them property, you should.

Tracy:                                    Yeah!

Shawn:                                 I mean that’s a really important thing because it’s become a very complex and intricate process now a days to go through the home lending process.

Tracy:                                    We have found that out haven’t we? The term mortgage broker versus banker, is there?

Shawn:                                 There’s a difference, so I started my career in lending as a mortgage broker and what a mortgage broker does is sells their loans to a wholesale lender. A lender or a correspond that lender, we fund our own loans, we have a line of credit that we fund that off of and then we either sell it to Fannie Mae, Freddie Mac or to larger banks.

Tracy:                                    Great!

Tego:                                     And I think people don’t quite understand, they think they go out get a home loan and it just sits at the bank or wherever it is, but most loans are “sold off,” correct? To some bigger pool of investor, correct?

Shawn:                                 Yeah, 90% of the loans are sold off, we can service loans, so there’s three things, you’ve bank, traditional bank that you can go get a home mortgage from, a mortgage lender, that you can go get a mortgage broker. I think the best of the three would probably be the mortgage lender, they have a little bit more flexibility.

Tego:                                     I see.

Shawn:                                 We make the judgment calls on the underwriting.

Tracy:                                    So one of the things we often talk with home buyers is about putting a financing strategy in place. We don’t usually call it pre-approval. We talk about a financing strategy and I know that when you meet with somebody for the first time, you really probably do a lot of digging, to find out what they have to bring to the table, so you can put together the best possible loan for them.

Shawn:                                 That’s correct, when I first meet with a client, I dig, I dig deep because I don’t want any surprises. So what we do, I get them to where they’re fully credit approved by the time I hand them off to use the realtor. There’s no surprises, you get a property, an appraisal and we’re done.

Tego:                                     Got it! And just so you know if you just tuned in you’re listening to Albuquerque Real Estate Talk here on KIVA Radio. This is Tego Venturi with Tracy Venturi, of the Venturi Team of Keller Williams Realty and we’re joined by Shawn Stringfellow from Loanstar Home Lending here in Albuquerque and Shawn, if somebody wants to get ahold of you, talk about loans, how do they do that?

Shawn:                                 They can reach me on my cell any time, you know I work on nights and weekends just like you guys do, so my cell number is 505 203 6506.

Tego:                                     So the pre-approval process or the pre-                qualification and I know Tracy, we don’t like using that term pre-qualification when we’re talking with folks because it does sound a little like “Oh you don’t qualify,” well, there’s a whole financing strategy and there’s a lot of loan programs out there and not not one loan program is for everybody correct Shawn?

Shawn:                                 Correct, there’s a lot of product out there, as far as loans go, and so what my job is, as your partner in this, is to figure out which is the best product for your client and I meet face to face with your clients. I go over whatever box they fit in, whatever loan program they fit in and if it’s more than one they have a choice and leave that choice up to them.

Tego:                                     So what type of stuff, if somebody calls you up or let’s say they meet in person, what type of information are they going to need to have or bring to you initially so you can kind of start that loan process.

Shawn:                                 Typically it I two months of bank statements, two years tax returns with W2’s, 30 days’ worth of pay stubs, that’s a good place to start but that’s not all the stuff that we’re going to need. What I do, you give me somebody that you want to go through the process, I will send them a list of documentation before I even meet with them and give them a couple of days to gather that information so that when they come into my office, they have a stack of papers for me to go through.

Tracy:                                    Great! So going back to the different types of loans, so just because I know you, I know you do a lot of different types of loans. What kind of categories for people that maybe if it’s a house that needs fixing up, if they’re a veteran, if they don’t have much money down, so what kind of things do you work with?

Shawn:                                 So we run the gamut, so we have the first time home buyer programs with the state bond authority, New Mexico Finance Authority. We also have another first time home buyer program that’s through another investor of ours, it’s a little bit more lenient than MFA so if they don’t fit in the MFA box then maybe we can get them into this other program. We do rehab loans, we do construction loans, we run the gamut, so we do VA, every product out there, we probably have and we’re adding more and more every day.

Tracy:                                    Great! New construction loans are kind of a specialty in on of themselves, aren’t they?

Shawn:                                 They are and I am a construction loan specialist for years at Wells Fargo, so I like doing those, those are fun for me.

Tracy:                                    Yeah, so you do have a construction loan and then another loan for that people or is there a one-time loan or…

Shawn:                                 Yeah, there’s a one-time closed loan that we have right now that saves the borrow tons of money, they go through one closing. Construction phases that works like regular construction loan they take draws with their contractor then it turns into their permanent financing when we get a certificate of occupancy.

Tracy:                                    That’s great! I know that type of loan went away for a while, I’m glad that it’s back! It does save a lot of money.

Shawn:                                 It did and there’s a lot of product that’s coming back on the market that we saw go away.

Tracy:                                    Yeah…

Shawn:                                 So there’s a lot of niches coming back.

Tego:                                     So let’s address that, we’ve gone through some interesting changes, say in the last, 8 years and since 2008 when really the whole mortgage world got turned upside down, and you know there was a time there where getting a home loan was quite a process and I’ve been hearing this from other people, including you that it’s not quite as let say…

Tracy:                                    The rules have relaxed a little bit.

Shawn:                                 They have.

Tego:                                     And you said something before we went on air that Fannie Mae and Freddie Mac have change some of their standards a little bit, correct?

Shawn:                                 Not quite yet, there’s a proposed rule with both of them right now to relax the rule. Right now if you’ve had a bankruptcy for closure short sell you have to wait 7 years to get conventional financing. What they’re considering doing is shortening that waiting period to either 4, 2 years. And so that’s probably going to be in the next couple of months and to make that announcements so that’s going to help a lot of people get back to home ownership.

Tracy:                                    And so it’s just on conventional loans?

Shawn:                                 That’s on conventional loans. Now for going on government, VA, FHA it’s 3 years.

Tracy:                                    So that’s pretty quick after financial difficulty.

Shawn:                                 It is and FHA got a program, there was a document at hardship the waiting period is 1 year so there’s a process to go to get through that but I’ve done those that there you can get through.

Tracy:                                    That’s great news because there were a lot of people affected because of the down turn that credit were affected, good people that just got caught.

Shawn:                                 Exactly, I mean we all survived the storm, thank God! But there’ a lot of people that didn’t and their coming back now, so I think they need the chance to get back into home ownership.

Tracy:                                    And so a great part of that is houses are still priced well for home buyers.

Shawn:                                 New Mexico’s you know, very good housing market, were very affordable and interest rates are still in historic lows.

Tego:                                     Yeah let’s talk about that, you know we talked about that last week on the show where interest rates you know they went back down again. And what are we looking at? What can people expect to pay in an interest rate, let’s just talk 30-year fixed you know, coz I know there’s a brunch of different things out there…

Tracy:                                    With decent credits…

Tego:                                     With decent credits, right…

Tracy:                                    What is, yeah…

Shawn:                                 There’s a lot of factors that will figure in out on it, somebody’s interest rate, credit score, loan of value, what not, but typically conventional loans are in the mid 4’s, government are in the high 3’s.

Tego:                                     Got it, got it…

Shawn:                                 That’s great, I mean we haven’t seen that in our lifetime. Yeah, and probably won’t again. So it’s a good time for people to jump in to the housing market.

Tego:                                     And you know, we talked about the housing market here from a value stand point from the Albuquerque area and home prices have crept up a little bit in the last couple of years and but really not, not much. I mean home prices have stayed pretty steady and you know, we feel that it’s a great time especially for what we call the move-up buyer, the person going from $150,000 house up to the $300,000 because they’re taking advantage of those great interest rates on the buy side. And those $150,000 houses, there is a decent demand here in Albuquerque.

Shawn:                                 There is and that’s the market really, that what we’re seen. The high end market is coming back too. I don’t know if you guys have experienced that but I’ve seen that come back as well.

Tracy:                                    We have seen that and so that’s been exciting as well.

Tego:                                     Well thanks Shawn! We’re going to take a break here. We’ve been talking with Shawn Stringfellow with Loanstar Home Lending here in Albuquerque. It’s alright I can get that out, I know I can.

Shawn:                                 It’s okay.

Tego:                                     Yeah and again Shawn if somebody wants to talk to you about home loans what’s that number?

Shawn:                                 505 203 6506

Tego:                                     And this is Albuquerque Real Estate Talk with Tego and Tracy Venturi of the Venturi Team and Keller Williams Realty. If you want to do a home search, look for homes for sale in the Albuquerque area you can visit our website at and one thing I will mention since we’re talking about home loans is we have a place on there where you can actually search for some of these down payment assistant programs so take a break, talk to you in a few minutes.

Welcome back to Albuquerque Real Estate Talk on 959 FM/AM 1600 KIVA the rock of talk and this is part of the Small Business Saturday and Market Makers and Risk Takers here on KIVA and we are joined by Shawn Stringfellow today talking about mortgages and home lending and kind of the whole process and all the products out there and it really is pretty complicated. Shawn let’s just jump back into this real quick, you know we’re talking, you call them products, I call them programs let’s say, yeah but you know it’s basically the same thing, there is no one size fits all loan, correct?

Shawn:                                 Correct, I mean, it’s unique, everybody’s unique financial situation.

Tego:                                     Sure so let’s talk about some of those, there’s something called a corresponding mortgage, explain what that’s all about.

Shawn:                                 Loan starts considered a correspond out lender and what that means is we sell our loans on the secondary market. We underwrite, we process, we fund our own transactions. We can even service our own transactions or our seller servicer. A broker doesn’t give you that, they go to a specific investor, they’re tied to that specific investor’s guidelines and underwriting. They don’t underwrite their own files.

Tego:                                     Sure. And just real quick define underwriting.

Shawn:                                 Underwriting is the guidelines that we have to follow to approve your mortgage loan.

Tego:                                     It’s basically looking at the underbelly of your financial self.

Shawn:                                 Financial self, exactly!

Tego:                                     But I mean it is, when obviously when we’re talking and working with clients. Tracy, we coach them that you know, they’re going to look at everything, that’s what the underwriter’s job is right?

Shawn:                                 That’s right, and that’s, I coach them too, you know, and warning, you’re going to get mad at me through this process because I’m going to ask you for everything in your closet, in your house, maybe a blood sample, you know that’s kind of extreme but it’s like that.

Tracy:                                    I know and we hear that a lot from home buyers these days, they feel like they’re asked for too much stuff and we try to let them know ahead of time that it’s going to be that way.

Shawn:                                 Right and so do I and these all resulted from the meltdown in 2008 and we’ve got new regulations that the government set forth so we would have strong mortgage lending and that we would have you know, strong mortgages.

Tracy:                                    The good news though, is there’s lots of loans available and lots of money available and you can qualify for a loan if you should be buying a home.

Shawn:                                 You can.

Tego:                                     So let’s talk about some of these other programs. You know you talked about correspondent type loan and there’s another product out there a portfolio loan, can you explain that a little bit?

Shawn:                                 So portfolio loan is privately held, it’s not sold to any of the GSC’s like Fannie Mae, Freddie Mac, FHA or VA, it’s privately held by that particular lender and we do have a pool of money that we lend from that is called, you know, it’s a box.

Tracy:                                    So those are private investors that…

Shawn:                                 Right!

Tracy:                                    lend you money?

Shawn:                                 It’s a group of investors that put a pool of money together and they lend out of that pool.

Tego:                                     And who would the client be for that type of product?

Shawn:                                 There’s couple different ones, I mean you either got your higher end that’s got asset depreciation and that’s their income…

Tego:                                     Higher net worth…

Shawn:                                 Higher net worth,

Tego:                                     Yup!

Shawn:                                 Or you’ve got somebody that’s just come out of a foreclosure or bankruptcy but they still have good credit, they still have money and want to buy another home.

Tego:                                     I see, I see…

Shawn:                                 So those are our… you know there’s lot of technical terms I can’t, you know, we can talk for hours about it, but we call them non-qualified mortgage loans.

Tego:                                     Sure, sure…

Shawn:                                 Qualified mortgage is a new term that come out recently.

Tego:                                     Yeah, and just if you just tuned in you’re listening to Albuquerque Real Estate Talk here on KIVA Radio 959 FM and this is Tego and Tracy Venturi with the Venturi Team here with Keller Williams Realty in Albuquerque and we’re talking with Shawn Stringfellow about home loans.

Shawn let’s talk about the, let’s say the kind of the other side, we’re talking about portfolio loans it’s more the high net worth person. Let’s talk about the first time home buyer programs, the down payment assistance programs. You’ve mentioned something that you have and then there’s also the New Mexico Mortgage Finance Authority, they’ve got some incredible programs for folks.

Shawn:                                 They do. They’re programs range from helping people that are on section 8 achieve home ownership and they can use their section 8 voucher to purchase the home and help make their mortgage payments, all the way to the typical first time home buyer with down payment assistance. Our company has another product that’s a little bit more lenient than the bond program here in New Mexico that will help people get into home ownership as well, it’s a 3% second with half percent down payment can be gifted, doesn’t have to be their own funds and as such there’s no FHA first.

Tego:                                     Wow! That’s pretty,

Tracy:                                    So…

Tego:                                     amazing and it’s still fully documented obviously…

Shawn:                                 Correct!

Tego:                                     Not like the old day,

Shawn:                                 No…

Tego:                                     when we did the no doc loans, and that those have gone away, I hope.

Shawn:                                 Oh no there’s one coming back and it’s…

Tego:                                     Oh my gosh, sure notes. Say it ain’t so

Shawn:                                 No doc loans, but it’s kind of unique to self-employed borrowers because we know their tax returns can be tricky.

Tego:                                     Correct…

Shawn:                                 What a couple of investors, one of them have done is we’ve come up with a bank statement program again

Tego:                                     I see…

Shawn:                                 We know that they’re running a lot of money through their business accounts and bank statements.

Tracy:                                    So…

Shawn:                                 As long as we can document their deposits, we can use it as income.

Tego:                                     I see…

Tracy:                                    So you said that first time home buyer programs half a percent down payment is all that’s required?

Shawn:                                 That’s all is required with the non-MFA program, MFA requires $500 down.

Tracy:                                    So somebody could walk into home ownership with $500 to $1500…

Shawn:                                 Correct…

Tracy:                                    And what we know is with home prices and interest rates that house payment monthly including taxes and interest and insurance should be less than what they’re paying in rent.

Shawn:                                 9 times out of 10, definitely so…

Tracy:                                    Yeah…

Tego:                                     There’s some really cool tools out there online that help you do that I know truly I has one on there website where you can do a rent to…

Tracy:                                    Rent versus buy……

Tego:                                     Rent versus buy you know if you just a rent versus buy on a calculator in Google you’ll get some calculators and you can just play with those numbers and it’s pretty amazing. And you know right now in Albuquerque the rental market, you know it’s going to cost you more to rent if you want a house than to buy!

Shawn:                                 You know I’ve had clients that are first time home buyers you know their payments range from $800 to a $1000 and their buying beautiful homes or buying great homes for that price range in payment…

Tego:                                     And you can’t rent for that…

Shawn:                                 No, you can’t rent for that…

Tracy:                                    Well, plus the joy of home ownership, you can paint the walls, your kids can pick what they want their room to look like…

Shawn:                                 Nobody’s telling you what to do with…

Tracy:                                    Nobody’s yeah dictating…

Shawn:                                 You’ve got control…

Tego:                                     And you’re paying your own mortgage not your landlord’s mortgage, right?

Shawn:                                 You’ve got a tax benefit, you know, you got a tax deduction, you know home owner…

Tego:                                     Yeah, so Shawn let’s talk about when somebody starts down this process of the home purchase and applying for a loan, there’s some very much, you know they call them the you know the ten commandment of home loan and stuff and do’s and don’ts. Can you give us, just give some tips for the folks what they should watch out for and what they should and should not do when they’ve applying for a home loan.

Shawn:                                 I guess the main thing is don’t apply for additional credit. I’ve seen people that go out and buy cars right when we’re through the middle of the process. We have to count that in your payment. We’re going to pull your credit right before closing again. That’s a pull it doesn’t count against your credit score but we’re going to check your credit 5 days before closing.

Tego:                                     Yeah and let’s say that again and make sure people understand that. That was something that’s came out of the new regulations in 2008-2009, right?

Shawn:                                 Right.

Tego:                                     So the credit, you don’t pull it just once at the beginning, it gets pulled…

Shawn:                                 It gets pulled twice. So we do, what we call a soft pull. It’s a soft pull, doesn’t count against your credit score but we update that credit report before we close.

Tracy:                                    That’s great! One of the things that I’ve seen that comes up most often with that, we have had people buy cars in the process of also buying a house. But it’s going to Sears and opening a charge account and buying new appliances and new furniture for their new house…

Shawn:                                 So don’t do any additional credit. We wait to get through the home loan process before you even have anybody pull your credit.

Tracy:                                    Right…

Shawn:                                 And that’s yeah…

Tracy:                                    Plus they’re verifying employment again right before closing…

Shawn:                                 Don’t change jobs, don’t quit your job, I mean all that stuff will be verified right before closing.

Tego:                                     And the other thing I think and I know you know this coz you’ve probably dealt with it is, be upfront with your loan officer, tell him everything, tell him the truth, don’t try to hide things.

Shawn:                                 I’m like your doctor, tell me everything. We’ll figure out a way around it. If you don’t tell me something and I find out and that’s when we run into problems.

Tego:                                     Coz you can do so much and then it goes to the underwriters. And those underwriters they don’t mess around, they look at everything.

Shawn:                                 Well, they’re so much on the back end that people don’t see there’s so many different third and fourth checks that we do. We go to third parties, we go to LexisNexis, it’s another reporting agency, we pull reports from everywhere so you don’t tell me about a piece of property you own, I’m going to find it. It’s just part of the process, we’re going to find it.

Tracy:                                    And like you said in the beginning if they tell you everything then you make sure you get them in the right product with the right future where that loan’s ending up.

Shawn:                                 Right, the more information I have upfront, the better’s the transactions going to be.

Tego:                                     And again that goes back to these programs, all the different programs and products, as you call them, that are available you know, if you know the whole financial picture, the whole family picture, everything of the client, you can steer them into their correct product.

Shawn:                                 Steering’s not a good word in our industry.

Tego:                                     Okay, sorry, we won’t use the word steering, you can, you can, yeah…

Shawn:                                 But I can give them enough information to make an educated decision…

Tego:                                     Sure, sure…

Shawn:                                 You know, there’s several products available then we can help them make with that decision.

Tracy:                                    And one of the things that’s obviously really important is for our home buyers, they don’t want to get starting to pack up, ready to move in and at the last minute, something comes up they forgot to mention and the loan falls through. They’ve already given notice where they’re living, then they don’t get to move in.

Shawn:                                 That’s a good point so one thing that we’re encouraging right now and we’re doing a 14-day guarantee close. If you bring us somebody before they’ve even written an offer and they’re out looking for a property, we’re going to send them through underwriting, we’re going to send them through the whole approval process just like they had a transaction, that way there’s no surprises at the end. And we’re going to guarantee that they close.

Tego:                                     And so we talk here about real estate…

Tracy:                                    That’s awesome, by the way.

Tego:                                     Yeah it is, no that is! And you know we talk about this all the time and people always start, when they finally come to the decision that they’re either going to move to a new house or their going to buy their first house. So first place I usually start is looking at homes coz that’s the fun part. You know, you get on our website, by the way and search all the homes for sale in Albuquerque. That’s the fun part but right after that they need to be talking to a loan agent correct Shawn?

Shawn:                                 Correct and the sooner the better.

Tracy:                                    That’s great! And so speaking of how to reach us, you know like Shawn said, we’re getting to the end here of our morning session but we work pretty much all the time so give us a ring at 933 6881 and we’d be happy to talk with you and kind of go through all these things with you and start the process.

Tego:                                     Yeah, that’s the line of the Venturi Team Realtors and then Shawn if they want to talk to you about loans, again let’s give your number out there again.

Shawn:                                 505 203 6506…

Tego:                                     Perfect and this has been Albuquerque Real Estate Talk with the Venturi Team of Keller Williams Realty here in Albuquerque, we’re joined by Shawn Stringfellow with Loanstar Mortgage here in Albuquerque, Home Lending. We appreciate you listening. Have a good weekend!




Albuquerque Real Estate Radio – Sept 6, 2014 Home Staging

Radio Show

All About Home Staging

Tego: Welcome to Small Business Saturday and Market Makers and Risk Taker. This is Albuquerque Real Estate Talk here on 95.9 FM AM 1600 KIVA. I am your host Tego Venturi with my co-host Tracy Venturi. We come here every week, talk about residential real estate here in the Albuquerque area. Thanks for joining us. Tracy, if people want to reach us talk about residential real estate in Albuquerque, anything, any question? Buy, sell, market stat, whatever. How do they get hold of us?
Tracy: Well, good morning everybody. Always great to be here. Give us a call. It’s the easiest and quickest way 933-6881. That’s our whole team so you might reach us or somebody else that works with us. Otherwise, our website But give us a ring, that’s the best way. Call us today. We work Saturdays.
Tego: Yeah. So we’ve got a guest today I want to introduce. Here’s the lineup for today. We’ve got just a little bit of market update. It is the beginning of the month. But we’re going to talk about staging home design and prepping your home for sale. We’ve got an expert on that with us today, Nicole Rorem with Su Casa Staging, correct Nicole?
Nicole: Yes, that’s correct. Good morning.
Tego: Well, thanks for being here and joining us and talking about this. I think hopefully this is a show that we’re going to be able to save and really give some people some good information on how to get their home ready for sale. We’re really getting to the meat in a second.
Let’s do a quick market update because we just finished August. Numbers are kind of what we’re seeing Tracy which was kind of steady.
Tracy: Steady, flat, still moving right along but nothing too exciting to report.
Tego: Yeah, the number of home sold in August over the last year is down about 5% but it’s 1,050 versus 960 or something like that. It’s not a big number. Homes are still selling. There’s still 960 homes sold in August. Price-wise we actually saw a little bit of hold back if you look at year over year for August that was down slightly, average sell price it was about 201 versus 210 August last year.
Again, I don’t think there’s anything here to be worried about. We’re just kind of steady. I think this is kind of normal ebb and flow of the market.
Tracy: If you listen like CNBC this morning, they were talking about the trend for next year and based on some of the market indicators they expect the real estate market to really do well over the next 9 months.
Tego: The other big thing this week, I mean it’s not a big thing, the interest rates are still down. It went down again this week. Interest rates are hovering around that 4%. The headline I saw was market rates, interest rates are the lowest in 2014 and that’s honestly…
Tracy: We didn’t expect it to be that.
Tego: Not worth protection. Most people were predicting that the beginning of the year we’ll be at 4.5-5% this year. Anyway, I don’t want to talk too much about the market. If you want to look at market statistics for the area, you can visit our website at If you’re just joining us, this is Albuquerque Real Estate Talk here on KIVA, the Rock of Talk and we have Nicole Rorem with Su Casa Staging. We’re going to talk about home staging. Tracy, we want to get your perspective as well. You help sellers sell a lot of homes, what buyers are looking for in homes.
First off Nicole, I’ll shut up here for a little bit. What is staging? What is staging versus home design, I guess is the best way to put it?
Nicole: Yeah. So when you’re doing home design and decorating and placing your furniture, that sort of thing, you’re doing it for yourself, for living. The difference with staging is you’re trying to market your home now. It’s a product you’re trying to sell. So, you want to set it up in such a way that it attracts that largest numbers of buyers. You want everybody who walks to the door to immediately fall in love with the face, not focus on things that need to be done or fixed or changed or work that they have to do after they buy. But they just walk in and it says ‘welcome home’ and it’s an inviting space. That’s what staging can do for you.
Tego: And so what exactly do you do? You do this obviously. This is your profession. What exactly can you do for a client or somebody that’s trying to sell their homes?
Nicole: We have two major services. One is staging vacant homes and that’s where we own a lot of furniture and inventory and we can set that vacant home up with our furnishings and accessories to show its very best which will help with your professional photos, which will help drop people to the house in the first place and we’ll create the good, emotional connection when they walk through the door.
Then, our second side of our business is for occupied listings were people are still living in the home. They have to live there while they’re selling it. We can do a room by room walkthrough and give suggestions for staging each room. It can either be something like a homework list that they can do for themselves or if they don’t want to, we can give them a price to come and do things for them.
Tego: Sure, one of the myths out there is staging is for vacant homes. It’s just so you can put furniture and make it look pretty. But really that’s not the case.
Nicole: No. There’s actually a real science to it. A good example would be a house I staged yesterday where it had carpet, tile in the entry, carpet in the living room. It looked tiny. We have now opened up that space with furniture and changed the whole feel of the room, the look of the room and the size of the room. It has way more furniture than you can ever imagine empty. It’s not just decorating. It’s placing it in the right place, creating walkways and space, creating function for people. There’s a lot more to it than just plopping furniture in the space.
Tego: Sure. Tracy, you have a question?
Tracy: I just want to talk about – one of the things I was thinking is a lot of times when we mention ‘staging’ to home sellers, they’re thinking of clutter not really staging. Is that something you come across?
Nicole: You mean, people who still live in their houses?
Tracy: Correct.
Nicole: Yeah. I mean, de-cluttering is really important. What that means is putting away all the extra stuff like paper and personal photos, just all the extra junk in our room. So, you want to think about if you live in your house and there are furniture there, you want to think about setting it up kind of like a model home where it doesn’t really look like someone lives there all the time, things like Kleenex boxes and stuff like that.
De-cluttering is totally important. You don’t want to take everything off the wall so that’s boring and uninviting. You still want it to be very inviting. But de-cluttering is probably the biggest things that people who still live in their home have a hard time with.
Tracy: So just to piggyback on that, so when we’re talking about re-design and the services that you can provide. It’s not just de-clutter. It’s really move furniture and things.
Nicole: Yes. If we were doing a consultation, we’re going to go through and tell you all the things we should get rid of, put away, store, move. Then, we’re going to go ahead and be able to tell you how to replace furniture, repurpose the furniture. We can give you suggestions for using stuff from one room and putting it in another room, really just optimizing the space.
Like a good example would be, we would go in. If you maybe have a bedroom that has just random stuff in it, we might want to suggest you setting it up as a bedroom.
Tego: Sure.
Nicole: And things like that.
Tego: So, Tracy let me ask you this. Why stage? Obviously, we’ll get into this in a moment. It’s a huge benefit for the seller, the property owner in staging the property. But what are some of the benefits for the buyer. You help a lot of buyers. You show a lot of homes and when you go into these different homes, staged versus non-staged, how does that benefit the buyer? Because I think some people think, well, we’re just trying to trick the buyer into showing this home off. But that’s not really the case, right?
Tracy: No, I think a lot of people have a hard time especially when they get overfilled houses visualizing their things in the house and how rooms really work. Sometimes rooms don’t speak clearly that, “I’m a kitchen. I’m a living. I’m the dining room. I’m a family room.” Sometimes there are spaces that you just don’t know how your furniture would fit. When they’re staged, people can really go in and visualize themselves there and how they might use the house. It’s great.
But I know from showing hundreds of houses, I see the same floor plan over and over a lot whether I’m in the northeast heights or somewhere else in the west side or whatever. It’s amazing how people get a feel within the first 10 seconds in the house. They make a decision immediately. It might have been a house with a floor plan. They’ve already rejected it. That won’t work for them. But we walk in one that’s properly staged with the right art, the lighting, the colors of the walls, whatever and they know in 10 seconds that house is perfect for them and it really has the staging made all the difference.
Nicole: Yeah, that was the same statistic I was going to share to you that buyers have that 10 seconds to make a decision. It’s an emotional decision. The key room in house to have staged perfectly is definitely the first thing you see whatever it is when you walk in through the front door.
Tego: Sure. And in these days, photographs are such a big important part because a lot of people are previewing homes online now. We look at statistics of how many people view the homes we have listed for sale and it’s thousands. They’re on the website. They’re on Zillow, Trulia,, our website, whatever looking at homes in the photographs. The staging helps those pieces well, the visualization through the photograph, correct?
Nicole: For sure. I think that professional photos are key. If you look at our website which is…
Tego: Yes, by the way, you need to introduce how people get a hold of you.
Nicole: If you look at our website, you can see a lot of before and after photos and you can see the difference that makes. It’s the same difference in a buyer’s eyes when they’re shopping online. They see that same difference in pictures. It’s important. It’s all important.
Tego: Yeah, sure. So, we’re going to take a break here in a little bit and when we get there, let’s actually give some people some nuts and bolts. Obviously, they can hire you Nicole to help them stage the home. A lot of people just want to just take it on themselves or you can come in and just do a quick consultation with them. But we’ve got a whole checklist that we can give folks if they want to try take this on themselves. Obviously, I think hiring a professional like you is great. Most people don’t have the time and energy. They’ve got a life and trying to prepare a home to get it ready to sell is a big job.
Nicole: Yes.
Tego: So, what would you say – let’s just close with this. What would you think, what are the statistics on staging how much does it benefit a home seller when you’re talking about that?
Nicole: Well, the last time Real Estate Association did a study there were 89 vacant and occupied homes put on the market that were listed and not staged and they were on the market an average or 166 days. Same homes were staged and received their first offer in 32 average days.
Tego: Wow. Those are big numbers.
Tracy: We’re going to have to cover those again.
Tego: We’ll go back to that here in a minute. Thanks for joining us. This is Albuquerque Real Estate Talk. We’re going to take a break. We’ll be back shortly.
Welcome back to Market Makers and Risk Takers on Small Business Saturdays. This is Albuquerque Real Estate Talk on KIVA the Rock of Talk. And I am Tego Venturi with Keller Williams Realty and the Venturi Team. We talk about residential real estate here every week and I’m joined by Tracy Venturi who’s my partner in real estate. We have a team of realtors that can help you out. Tracy, if people want to get a hold of us and talk real estate, buy and sell, how can they do that?
Tracy: Sure. The best way is to call us 933-6881 and we look forward to talking to you. Love to talk real estate.
Tego: And our guest today is Nicole Rorem with Su Casa Staging. She is a professional home stager that helps people prepare their home for sale. You’ve done a lot of this here in Albuquerque, right Nicole?
Nicole: Yes, I currently have 47 staged right now.
Tego: Wow. That’s a lot of furniture.
Nicole: Yeah.
Tego: And we talked about this earlier, it’s not just placing furniture obviously you do other things. You do consultations and give people their own checklist where they can go and do things themselves to help market the property.
We went away and we kind of broke at the end there. We’re talking about statistics regarding staging and I found one that said of the homes that are staged, they sell 12 days faster. This is a big study that was done a couple of years ago. But you’ve got some studies that are even more, well what’s the right word…
Tracy: Convincing.
Tego: Convincing, thank you, to make the case for staging.
Nicole: These are statistics from the National Staging Association where they studied 89 homes that were previously on the market and not staged and those 89 homes sat on the market an average of 166 days before the homeowners gave up and called in a professional home stager. Those same homes were staged and received their first offer on average 32 days after being professionally staged. This is 81% less time on the market. 9 of these houses even have multiple offers. The numbers are real.
Tracy: And they didn’t even sell in 166 days.
Nicole: Correct. Exactly, they haven’t sold at all.
Tracy: 81% faster but they really haven’t even sold the first time around.
Nicole: These are nationwide results but we see the same results in Albuquerque. We track all the houses that we staged and have had average 27 days on market for staged homes.
Tego: In Albuquerque, average days on market is somewhere around 60-90, just depends month over month, every month changes a little bit. But that’s kind of the average.
Tracy: If you think about what it might cost to stage your home and I’m sure you can call Nicole and you might figure out what it might cost to stage a home, to use your furniture, have it moved in and all that. But think about if your house sells two months faster and you’re not living in it and you’re not making a mortgage payment for two months and it could a couple thousand dollars easy.
Tego: Sure. It adds up pretty quick. Nicole, do you want to get into what it costs to stage a home? Is that possible?
Nicole: Sure. If you live in the house in an occupied listing, we do a consultation for $95. That’s a one-hour consultation where we walk through and we can give you the homework list. We can do some of the work while we’re there, that sort of thing.
For vacant house, it’s harder for me to give the price. It could range from $1,500 up to $3,500. Most of them are in the $2,000 like $2,200 to $2,800 range. That is for zero to three months. It’s for moving everything in, moving everything out. We’re moving everything in setting it all out, decorating and everything in there for three months and taking it out after it sells. That’s a general price. We do those more on customized basis.
Tego: Sure.
Nicole: You can visit our website. There’s a button you can click for a staging quote and I can do it.
Tego: Perfect. Let’s go to that. How can people get a hold of you if they want to talk about staging and prepping their home for sale?
Nicole: Great. They can call me at 505-681-5642 or visit our website at or is my email.
Tracy: And you just need to tell them that we sent you.
Tego: Yeah, there we go. If you’re just joining us, this is Albuquerque Real Estate Talk here on KIVA. We’re talking about staging homes and getting ready for sale. Nicole, let’s get right into – let’s give people a list. What should they be looking at? I know there are TV shows. I know there’s books. There’s all kinds of stuff out there. But where should people start when they start thinking about getting their home ready for sale?
Nicole: I think, I mean the main thing is to probably yourself can even go through your house room by room and you want to create an organized look whether that’s in your closet or in the hallways, in any of the spaces even if you’re unorganized. You want to put away all the extraneous things that are around, magazines, clothes, basket of clothes that are on the floor, different things like that. That’s the de-cluttering process. You want to remove excess furniture throughout the home. There’s little things you can do if you have a narrow hallway. You can hang a mirror in that hallway or a room that’s kind of small. Hang a mirror to enlarge the space.
Your closets are really important especially like the master closet or having enough storage. You don’t want to forget those rooms. For cleaning things up, just maybe a good rule of thumb would be to take out half of everything in your closet. You’re going to be moving anyway so pack it up. If it’s spring, get rid of all your winter stuff.
Tracy: As in pack it away and put it in a garage or a shelf.
Nicole: Correct. Either get rid of it at Goodwill or pack it. You’re going to move to your new house, get it out of the house. Those are things you can do. What else can I tell you?
Tego: You know one of the things that I have heard people say is remember that your home now, I know it’s your home and you love it and you made memories there and all that stuff but all of a sudden your home is now a product. So, you have to disassociate yourself with the emotions of ‘this is your home’.
Nicole: Yes.
Tego: And doing that, that’s difficult. That’s why it does help to get somebody like you with a critical eye to come in and maybe tell you some things you don’t want to hear. But you’re the professional that can help them through that process, right?
Nicole: Right. Exactly. I think that is so true and people don’t see their houses the same they would see a house as a buyer. Our goal is to just emphasis that you’re marketing this product and you want to sell it. It’s not just – people aren’t going to buy it the way it is if they have certain things in there. I could do the hard work. Sometimes people don’t want to get rid of things that are personal but we want to neutralize the style of the home and reach a broader number.
Tracy: That’s what I was just going to ask you about. From the buyers’ side when I show homes to buyers, when you’re thinking about staging or re-staging, it’s making it nothing flashy maybe or more neutral, very comfortable for the masses.
Nicole: Yes, I mean you don’t want anything that’s too specifically personalized. Sometimes that’s so too much southwest or too much religious or too much something else. It’s hard to tell people that because that stuff is dear to their hearts but neutralizing it to make it where any buyer who walks through the door will connect to the property.
Tracy: Does that include recommending paintings sometimes?
Nicole: I think neutral painting is good. This might be my own personal opinion but I do not recommend white walls. I prefer tan walls because it’s really hard to make white walls feel warm. But neutralizing paint colors is definitely a good idea.
Tego: Yeah. I’ve got a story here that I came across and I want to run it by you as kind of like three myths about home staging. We’ve done myth busting here on our show before and some other things. The myth one is home staging is just mostly de-cluttering.
Nicole: That’s definitely a great first step. But it is by no means – I mean, you don’t want to take just a bathroom counter that’s white and clear off the counters and have nothing there. It looks like an unfinished or cheap. It really doesn’t give an emotional connection for the buyer.
Tego: Sure. And the furniture, excuse me, the photos and furniture and all that stuff makes a big difference too.
Nicole: It makes a huge difference.
Tego: Yeah. And the other myth is staging this for vacant homes. We talked about this earlier but obviously it’s not just the vacant homes.
Nicole: Yeah, it can be any home. I did a consultation yesterday for a family who have beautiful furnishings, beautiful things in their house but they have too many fake plans and fake flowers and they had too many different areas of clutter and we just went through and gave them ideas for storing away things, hiding things, changing furniture around a little bit to fit better in the space, that sort of thing. That’s really important too.
Tego: You know, we have a little handout that we give to our home sellers just kind of prepping your home. One of the things is ‘de-personalize’. I know there are some differences of opinion on de-personalizing meaning taking down all the family photos and taking down…
Tracy: All the religious art.
Tego: Yeah. What’s your feeling on that, the whole de-personalizing piece?
Nicole: Yeah, I think de-personalizing is definitely important. It’s an area where a lot of the clutter usually is is with these personal things. But having some personality in the house, that’s what we do in a vacant house. It has no personality, that’s why we stage it. So, in an occupied house, you still want to want to have some personality. But you really do need to limit the amount of all your little personal photo frames, your personal collections, religious collections, things like that because you’re limiting the number of buyers that can associate with it.
You also don’t want people to walk through the house and look at all your personal photos and say, “Oh, I know that guy. I know that person. Look he’s a doctor,” or whatever. You just want them to look at the house and all the features of the house is what you want to showcase.
Tracy: I find that just such a big issue when I show houses because if there’s a lot of interesting things or beautiful – I showed one yesterday. It was in high dessert and it was beautiful, like New Mexican art work. My client hardly saw the house. They were so excited just to look at every room and what was in there.
Tego: That’s an interesting point Tracy. If you’re just joining us, this is Albuquerque Real Estate Talk here on KIVA Radio. We’re going to be wrapping up soon. We’ve been talking about home staging and getting your home ready to sell and converting your home from a home into a product. I know that maybe sound a little harsh but that’s what you do Nicole, right?
Nicole: Yes. That’s exactly what we do. You want to sell something, it’s just basic marketing. Staging is marketing. It’s getting it to look at its very best.
Tego: There’s something I heard years ago and it was when you get your car and you’re ready to sell your car, you get it detailed, right?
Nicole: Correct.
Tego: Why wouldn’t you do the same with your home?
Nicole: Right. exactly.
Tego: It’s exactly the same thing and it’s much a larger, larger investment in property. Anyway, thanks for joining us. This has been Albuquerque Real Estate Talk. And if you want to connect with us, the Venturi Team we’re at If you want to talk about staging and getting your home ready for sale you can reach Nicole. Nicole, give us again your contact information.
Nicole: Yes. My number is 505-681-5642 and my website is
Tego: Thanks for joining us. Have a good weekend! Thanks.
Nicole: Thanks for having me.

Northeast Heights Albuquerque Luxury Homes

Northeast Heights homes for sale in Albuquerque can vary greatly from a lovely small condo, to a luxury estate home. Recently, I had the opportunity to show luxury homes in High Desert, Sandia Heights, Tanoan and Primrose. It’s such a privilege to work with home buyers looking for their perfect dream home, and we found many great homes for sale to consider. Some had awesome views of the Sandia Mountains, others views to the valley or the Jemez. Others had yards filled with native plantings that were attracting butterflies and hummingbirds. Take a look at some of these great dream homes for sale in this area of Albuquerque.

Albuquerque Real Estate Talk – August 30 2014

Radio Show

Albuquerque Real Estate Talk August 30 2014

Tego: Good morning and welcome to Small Business Saturday on 95.9 FM AM 1600. And this is Market Makers and Risk Takers and the Albuquerque Real Estate Talk Show. And this is your host, Tego Venturi joined by my co-host, Tracy Venturi of the Venturi Team.
Tracy: Hi! Good morning, everybody. And we have a great guest this morning. We’re going to introduce Sarah Gmyr-Maez with New Mexico Mortgage advisors and we’re going to jump right in.
Tego: Just to give a background here, we talk about residential real estate here every week and this week we’re going to do our luxury homes show or higher-end home. Everybody calls them luxury homes but we’re going to kind of get into that. But, we want to get Sarah on right away. She’s a mortgage expert and just kind of talk about mortgages in that higher end of the real estate market.
Tracy: Welcome, Sarah.
Sarah: Thank you for having me.
Tracy: Absolutely. You’ve worked with the few of our clients lately that have purchased homes in what we would consider a higher price point for our area. And I know you know all price points and what loans are available so we appreciate you being on this morning.
Tego: Sarah, let’s me ask something. When you’re doing mortgages, there’s this whole thing called the jumbo mortgage. Can you define that for us? Tell us a little bit about that? And when does, what’s called a jumbo mortgage kick in and what is that all about?
Sarah: Jumbo mortgage kicks in when you have a loan amount about $417,000.
Tego: What are the implications of that to somebody purchasing a home?
Sarah: It used to be that jumbo mortgages were a lot higher interest rate than a regular conforming conventional loan so anything that’s below $417,000. But right now, the jumbo market is very competitive and so the rates are almost identical.
Tracy: Wow!
Tego: Wow! And that’s really a good thing to get out there because obviously most people believe jumbos, they’re about 1% more. That’s kind of been the [0:02:02] belief for years, I would say. That’s really not the case right now, you would say?
Sarah: It’s not the case right now. It used to be like they were half percentage higher and now they’re pretty much identical. I did a comparison between both today, this morning. And they’re right there with each other neck and neck.
Tego: Wow! What can people expect to pay, I know it has a lot to do with credit scores and debt-to-income ratios and all that stuff, but what do you see in for interest rates for “jumbo loan”, meaning something a loan above that $417,000 mark?
Sarah: Well, like you said good credit [0:02:44] at 720 or higher. On a 30-year fixed, the lowest rate I found was 4.125. On a 7/1, which is a 7-year fixed. After 7 years they can change, that was at 3.5. A 5-year adjustable, so it’s fixed for 5 years was at 3.125.
Tego: Wow.
Sarah: The 15-year fixed at 3.25.
Tracy: Wow. That’s huge. We should be refinancing in a I mean jumbo loan to buy, [0:03:14] Tego?
Tego: Yeah.
Tracy: Wow, that’s great. What kind of downpayments are we seeing required on jumbo loans?
Sarah: Jumbo loans, they typically want 20% down. Some investors want 25% down but typically 20% down. Now, if you’re at a threshold where you’re close to or where you’re almost at a $417,000, we can do like a first-second combo. What I mean by that, let’s say you’re purchasing a house at like $550,000 and you put your 20% down and it’s not quite at $417,000, you can do a second. To avoid having to put more down like if it was requiring 25% down for the best rates. And we could do that with price points at $600,000 whatever. But right now with where the rates are, typically, just doing one loan as long as you have the 20% down would be the ideal rate to go because the rates on the second are higher.
Tracy: Great, sounds good. I forgot to even ask you to tell people how they can reach you if they have questions about lending.
Sarah: They can reach me on my cell which is 505-319-0622 or my office, 505-898-4800. Those are the best numbers to reach me.
Tego: Sarah, let me ask you a couple of things. First off, what’s your MLS number? I think you need to put that out there.
Sarah: It’s 279382.
Tego: Got it. Okay. And let’s talk about payments. You’ve ran some numbers and I think it’s really be good to kind of get an idea of what kind of payment people can expect on some different scenarios. Do you have some scenarios you can give us?
Sarah: Yeah, I did one at $600,000, putting 20% down. We did a $480,000 loan amount and the payment on that—and this is just principal and interest, it doesn’t include the tax and insurance—was $23,065 a month. And that was at a rate of 4.25 is what I figured out on that one.
Tego: Sure.
Sarah: But I want to reiterate though. If someone doesn’t have a 20% down, there’s [0:05:17] combo. We need to do that.
Tego: Sure. That $600,000 price point, Tracy, you can buy a lot of house in Albuquerque for $600,000.
Tracy: You can. You can get a great house for $600,000. And just principal and interest like under $24,000. It would be more than that with your taxes and insurance. But wow, that’s a lot of house you can afford.
Sarah: I also wanted to say, if someone has VA eligibility, they can do a jumbo loan and the interest rate on that is the same as the regular VA as well. And right now, those rates are at 3.75 on a 30-year fixed. That’s a really low.
Tego: Can you repeat that because I think that’s an important thing. We have a huge veteran population in Albuquerque obviously and active. Those are some of the best programs out there right now, correct?
Sarah: They are. There’s a formula. Once they reach the $417,000, depending on whatever the purchase price is. Let’s say they found a $500,000 house, they do have like a percentage that they’ll have to put down but it’s so minimal compared to like a regular jumbo and then they get to take advantage of the lower interest rate of 3.75 because that’s where VA rates are today.
Tego: Got it. Well, Sarah, thank you so much for joining us today and just talking about some of these jumbo rate. We’re going to let you go but we’re going to go into talking about some of these higher end homes in Albuquerque and what is a higher end home in some of the neighbourhoods here in Albuquerque. But Sarah, thanks for being with us.
Sarah: Thank you so much for having me. Have a great day!
Tego: You, too. Bye, bye. Again, this is Albuquerque Real Estate Talk with Tego and Tracy Venturi of the Venturi team. And Tracy, we jumped right in to Sarah talking about mortgages for the higher end and the jumbos, but what do we consider the higher end in Albuquerque.
Tracy: Well, that’s a great question because you and I debate this all the time. We look at the numbers and I always say, “For us, higher end is probably $400,000 and above.” That where most buyers are under $400,000.
Tego: Yes, we ran some numbers and what we’ve found is that, if you took all the homes that sold and you just look at the top 5% of all the homes that sold, it’s right around $460,000 and above. And that’s pretty consistent over the past few years.
Tracy: So, 460,000 is kind of the
Tego: That put you on the top 5% of all the homes sold.
Tracy: Okay. If you have a home that you want to sell and it would be over 460,000, know that you’re in the top 5% of all the homes in Albuquerque. Who can buy that home? 5% of the people.
Tego: Right, right. Even you move that up higher, if you look at the $750,000 price point, that’s about 1% of all the homes that have sold. You really, there’s some extraordinary homes in Albuquerque and that’s $750,000 and above price range.
Tracy: Yeah. There are some awesome homes, too, that are for sale. And probably after our break, we’re going to talk about some of the amenities and features you can expect to find in a home that would be considered in the more of the luxury or high-end in our market.
Tego: We’ll go into that after our break. This is Albuquerque Real Estate Talk with the Venturi Team of Keller Williams Realty. If you want to talk about real estate, talk about your home, talk about buying or selling or just anything real estate, you can reach out to us at our team line at 505-933-6881 or our website at We’ll be back shortly. Welcome back to Market Makers Risk Takers on Small Business Saturday on 95.9 FM AM 1600 and this is Albuquerque Real Estate Talk where we talk about the residential real estate market here in the Albuquerque area. I’m your host, Tego Venturi with Tracy Venturi of the Venturi Team of Keller Williams Realty here in the Albuquerque serving Albuquerque greater Albuquerque area. If you want to reach out to us, Tracy, how do people get a hold of us?
Tracy: The best way is probably by phone, 933-6881. And that’s our team phone number so you might reach me, Tego or somebody else like Meredith, Jane, Amy, people you’ve heard on the show. We all work together to help buyers and sellers.
Tego: We work as a team and it’s a good situation because we really have an area experts that can really take care of our clients and that’s the whole idea. If you want to do some home searching or look up market stats, you can do that on our website at
Tracy: But we’re working today, if you want to give us a call, go ahead.
Tego: Yeah, absolutely.
Tracy: That would be great. If you just have a question, give us a ring, 933-6881.
Tego: Tracy, couple of new stories from the week I just wanted to hit on because it’s actually good news. I know a lot of times we kind of get, we see headlines. I know there’s a headline in the Journal this week that was somewhat negative but when you actually read into the story, you’ll see that the market is steady. And that’s kind of what we’ve been talking about every week or every month when we really dig in to the market stats. It says here that the market is steady here in the Albuquerque area. And one of the things that I saw, this was a national study looking at the negative equity on homeowners.
Tracy: What is negative?
Tego: I know.
Tracy: That negative equity makes my eyes spin. What does that mean?
Tego: Well, what that means is these are people that are still under water in their home, meaning they owe more than the home is worth. And it actually fell to 17% of the people with mortgages which is a big number. However, that continues to decline and the expectation is based on appreciation and home turnover and stuff like that is by the end of 2015, it will be around 15%.
Tracy: So that number has shifted significantly in the last 3 years?
Tego: That is correct. Last year, it was almost 19%. Now, it’s 17%. Two years ago, it was 23%. Yeah, we’re going in the right direction. Again, this is national numbers but yes.
Tracy: But, a quarter of the houses two years ago were worth less than what’s somebody owed on it.
Tego: Correct, the ones that have mortgages on it.
Tracy: Right
Tego: And that’s a good thing. And then the other statistic that a story that came out and some statistic was Case-Shiller home index which is kind of like the guide to kind of see what’s going on with the national housing market. And home prices have slowed in appreciation. However, they still continue to increase. Albuquerque, we’ve just kind of steady 1% or 2% appreciation. But we continue to kind of be behind the rest of the market. I know there are other parts of the country, they’ve had some really big bump-offs last year and we never really did. And this year again, we just kind of steady.
Tracy: We are steady.
Tego: I think that the takeaway is the growth continues in home prices and it’s just kind of steady. And there’s no indication of it going up, going down, anything like that.
Tracy: Yeah
Tego: That’s our takeaway here on some of those national market stats.
Tracy: How does that relate to what we’re talking about today which is the higher priced homes in the Albuquerque metro area and those prices?
Tego: The area of Albuquerque when you look at the market statistics, that’s still kind of, let’s say, behind is the higher end. You start getting up on that higher priced home. And some of those areas, if you look at the homes, we’re talking about the top 5% is again the $460,000. And you look at those numbers, there’s about 17 months supply, 18 months supply. Two year and a half worth of inventory for those homes meaning of all the homes in the market versus the number that’s sold, if the same number of homes sold every month and nothing else new came on the market and the same ones stayed on the market, that’s how long it would take before it’s out of inventory. So, we still have quite a bit of inventory homes available in that higher price range.
Tracy: For people who want to sell their home, I think the takeaway there is know that it might take a while.
Tego: Well, the interesting thing is, Tracy, if you look at the days on market for that kind of price point, for the homes that actually sold, they’re 60-90 days. What’s happening is, what that tells me is that there are a lot of homes in the market that may not be priced in the market. They’re just kind of sitting there on inventory just waiting for somebody to come along. But of course, people aren’t going to pay more something its worth.
Tracy: Right. That’s a great takeaway. When we meet with people that need to sell, we say, “You either priced in the market or you priced out of the market.” And it’s not like, “Well, I can wait two years. I’m not in a hurry to sell.” The point is the price is still the price, whether you’re in a hurry or not. It’s not like somebody’s going to come along and say, “I’m going to pay a million for this house when the market for it is $850,000.”
Tego: Yeah
Tracy: All you’re going to do is wait until you get down to $850,000 and then your house will sell. It’s like you’re either priced to sell or you’re helping your neighbour sell their house.
Tego: Let’s talk about, you have a survey, Tracy, that talks about what people expect in a higher end luxury home, whatever you want to call it. And what does that survey say? Because it’s pretty interesting.
Tracy: It is. The did a survey and it was about what people think should be in a high priced home. And in Albuquerque and New Mexico, it might be a little bit different than what someone might expect in Florida where they want a Florida room and a swimming pool. Here, in a higher priced home, people do expect a chef’s kitchen, a very high quality with nice appliances and not 30 years old.
Tego: And that was the top 1 when they ran the statistics or ran the survey.
Tracy: That was the number one thing people expect.
Tego: Yeah, what we’re the other top things that people expect in a high-end home?
Tracy: A really nice master suite with an on suite bath with nice high-end features in it. I know in our market, a nice high-end house might be in Tanoan right now, and it still might have brass in it and might need updating but price according
Tego: Hey, brass is coming back.
Tracy: Yeah, probably. Of course, it needs to look shiny and fresh.
Tego: Yeah
Tracy: Some of the other things people think should be standard in a higher priced home are the views, maybe the size. In our market, sometimes pools although we don’t have a lot of pools. If you live in Phoenix, a $300,000 house is expected to have a pool. But in our market, there just aren’t a lot of pools. Home theatre and then outdoor living. Outdoor living is actually pretty large on people’s list here because we have such a great climate.
Tego: We do. And when you say outdoor living, we’re talking patios. We’re talking
Tracy: Fire pits
Tego: Grill area
Tracy: Outdoor bar, grill area—yeah, a nice sitting area.
Tego: Yeah, we’re pretty lucky. We’re really almost can live outside at least three seasons. Almost four sometimes, in the winter, it warms up enough during the day that you can hang out outside which is nice.
Tracy: Well, in some of those higher end homes have those gas lanterns to warm your patio.
Tego: Sure, sure.
Tracy: Yeah, definitely. Those are some of the key things people expect.
Tego: What part of town, when we’re talking about luxury or higher end home, what parts of Albuquerque can you expect to find the bulk of these types of homes? When we say $460,000, $500,000, and above, let’s say.
Tracy: Sure, when we did a map, it’s kind of a heat map of where houses sold in the last year, they’re really all over. If you look at the Northeast Heights, North Albuquerque Acres, Sandia Heights, High Desert. Obviously, there’s quite a few. There’s some in the East Mountains, the North Valley, the Ridgecrest area, downtown, Corrales.
Tego: Wait, what was, let’s talk about Ridgecrest, where is Ridgecrest? I don’t know if everybody realizes that.
Tracy: Sure. Ridgecrest is just southeast of the UNM in Nob Hill area. It’s close to the base and Lovelace Hospital, the old Lovelace facility, the veteran’s area. We just listed a house on Hertz southeast which is I think called Sierra Hills but people think of it, it’s just south of Gibson, the old Lovelace neighbourhood.
Tego: Sure, sure. Kind of those somewhat forgotten neighbourhoods and there are some pretty gems around town that you may not realize. Yeah.
Tracy: It’s kind of a grand estate area. It’s three quarters of an acre right there, it’s south of Gibson by the hospitals.
Tego: When you look at statistics—and of course I’m a statistics guy, and I love to look at those things—you look at the average price by area, what we find is that the highest average prices are areas like Sandia Heights which is up, near “The Tram” kind of in that area. North Albuquerque Acres which is north of Paseo, up in that area again, close to Sandia Heights. But those are all—the North Albuquerque Acres are generally acre lots or .89.
Tracy: And some of them are south of Paseo as you get closer up to Tramway, just on the north side of Tanoan.
Tego: Those are higher averaged price and then the other area is Corrales. And with North Albuquerque Acres and Corrales, it’s a similar situation. You have a minimum of one acre lots. You do end up with larger estate type properties.
Tracy: And they’re not a minimum. I mean there’s variation.
Tego: Sure, sure.
Tracy: And most of them aren’t really a true acre. They’re just under. There’s also Placitas. There’s a couple that have sold in the South Valley and even the west side and East Mountain.
Tego: Yeah. It’s really, really interesting. And obviously, if you’re looking for those type of homes and I do think it’s a great time to be a move-up buyer which is moving from that $250,000 to that $400,000, $500,000 house.
Tracy: If you can get a luxury home and your payment is $2500 a month, you should be locking it in right now, moving up to that.
Tego: The interest rates are so good right now like we talked about in the beginning. We got to wrap this up. This has been Albuquerque Real Estate Talk. If you want to talk real estate with us, the Venturi Team, call us at 505-933-6881 or search for homes, look at market conditions on our website at Have a good weekend!