Tax Season is Over....What Can I Prepare for Next Year?

Now that this tax season is over…I have some tips for homeowners on what they can prepare for in terms of great tax breaks over the coming year.  After all, one of the greatest benefits to owning a home is in the tax breaks that are available to you as the homeowner. So, while we have taxes on our minds, let’s prepare for next year to make sure we take full advantage of those fabulous tax breaks!

Let's start by setting up a home office! If you work out of your home, the so-called “simple method” allows you to take $5 for every square foot of home office, for a total of $1500! You can go a more complicated route, using a percentage of your utility bills used for that room… just start somewhere!  Keep in mind, you need to use the room regularly and exclusively for your business! So consider moving your work-space from your kitchen table to a spare bedroom and creating a home office in order to take advantage of that break!  When asked, you'll have to compute the square footage of that home office and see what percentage it is of your total home's square footage. From there, a tax professional will help you determine what, if any, deduction you qualify for. 

If you're like me, you've likely seen solar panels popping up on homes all around Albuquerque. The solar industry has really been targeting homeowners and a popular question among consumers is whether or not you can deduct the installation of the panels when it comes to taxes. Unfortunately at the end of 2016, the clock ran out on MOST tax credits available to homeowners who “went green” … However, the good news is the one remaining energy efficiency credit that is available to homeowners is for Solar Energy! Tax experts say you can take a credit of up to 30%, with no cap, on the equipment and installation costs for solar panels and solar water heaters that you purchase this coming year! To qualify, the equipment must be used to generate power or heat water in your primary or secondary home. So if you're on the fence about going solar, right now just might be a great time to do it, just don't forget to keep all of your receipts! 

Choosing a Professional to SELL Your HOME!

In this market it’s important for sellers to have a negotiation expert on their side when it comes to making deals. Selling or buying a home should be like any other business transaction. All too often sellers or buyers make emotional or impulsive decisions that can cost them money and valuable time. Choosing the right Realtor to market a property or negotiate a sale is the MOST important step in the process. You need to have tough standards when selecting an agent, just as you would when hiring an attorney or doctor.

Many sellers or buyers will hire an agent offering the lowest commission. Remember, you get what you pay for. Do you want a negotiator with a lot of expertise to protect your equity? If you had a lawsuit that was worth the value of your home, would you hire the cheapest attorney to protect you or the best attorney you can find? If you had surgery, would you look for the cheapest doctor? Or you would look for the best doctor? The same should be true for the Realtor you hire. In today’s highly competitive market it takes time, knowledge, expertise, targeted marketing, and countless hours of work!

Selecting the right agent can even help bring more money to the table at closing.  In fact, hiring the right agent in this market will make a significant difference for both buyers and sellers and their bottom line. I’ve practiced Real Estate for 30 years now and have successfully negotiated nearly 4000 contracts in my career. If you want real results, hire a real professional. I have a very strong team to back up my experience. 

Call us today to get your home SOLD! AND AT TOP DOLLAR!!! 505-238-1000

Seller Faux Pas

I recently read an article on Realtor.com that sparked my interest and I wanted to share it with you.  It’s all about the unwritten rules sellers should take into consideration when their home is on the market. Some are funny. Some seem a little obvious....yet you’d be surprised at how many seller faux pas we see when showing homes to our clients.  And I’ll mention, these are things my team and I go over with our sellers when their homes are on the market.

The number one unwritten rule is when someone calls to show your home, make sure you’re not there while they’re looking at your home.  In blunt terms, the simple fact that you’re there could make a buyer uncomfortable and they may not even really look at your home and take it into consideration. It’s important you give them the freedom to view your home and make comments, out loud, to their agent about what they like and even dislike. This helps us as Realtors to gauge their interest level.

We often see pets in homes, and while I’m a dog-lover just like the next person, not everyone is and you need to take that into consideration. If you have to leave your pets at home, make sure they’re locked away somewhere and you let your Realtor know where they are so they can avoid that area if need be. 

If you would like for my team to represent you in the sale of your home call us today at 505-238-1000!!!

Tax Savings!!!

With the 2015 tax season officially behind us, I want to talk about some deductions that could potentially save you, as a homeowner, thousands of dollars….

Let’s start with the obvious tax benefits of home-ownership, which is through your mortgage interest and property tax deductions. According to the National Association of Realtors, the average homeowner saves around $3,000 a year alone in those two areas.  On top of that, just this past December, Congress passed a bill that extended many exemptions that were on the brink of expiring and made others permanent.

A big exemption is mortgage insurance. Qualified homeowners can deduct payments on what we like to call PMI, for short, on their primary home. Sometimes you can deduct for a second property as long as it isn’t a rental. Another area of savings is in capital gains tax. If you sold your home in 2015 that may be an area where you could save, however I always recommend you talk to your CPA on exactly what you qualify for as there are different restrictions.

There are also some improvements a homeowner can make to their home that would allow for tax deductions. For example, medical improvements to your home to help meet medical needs. A good example of this would be a ramp to accommodate a wheelchair. You can deduct the amount by which the improvements exceed the increase in your home’s value. Another area where you can save is by making “green” improvements by taking advantage of an energy-efficiency tax credit. The break is 10% of the amount paid for green improvements, up to $500. Some examples of these improvements can be air-conditioning and heating units, storm doors, energy-efficient windows, you get the picture. 

The big thing is to start now. Don't miss out on documenting these potential tax savings so that this time next year you can be celebrating with a possible larger return. 

Seller Resources

Selling your home can be a stressful process.  Having a professional team on your side to help get your home sold is what you need!  Over the last 30 years, my in-house professional team and I have designed a streamlined, successful marketing plan, implementing many systems and resources to exceed our clients’ expectations.  Our strategy has proven results, with over 3,800 successful home sales!  There are many benefits and resources you benefit from when you hire my team, such as an aggressive and effective marketing plan, team concept and availability, and technological magic. I have a wonderful team that brings diverse talents together to ensure our customer satisfaction and streamline each transaction to a successful close.

When meeting with potential clients, one of the top items people express that they desire from their Realtor is communication. This is such a key element in any relationship. We work with each homeowner individually to ensure that there is consistent communication and that the hundreds of aspects of the sale are properly coordinated to make the sale, or purchase, of their home as smooth and enjoyable as possible. Not only do we notify our clients the moment someone has shown their home, we also obtain feedback from showings. We update our clients via email at least twice a week, in addition to a personal phone call. Our goal is to help sell your home for the maximum price, in a reasonable time frame, or purchase your dream home, with the least inconvenience to you as our client.

We market our listings to more than 350 real estate websites, focusing on resources for potential buyers’ rapid access to information, as well as other online and offline marketing. My team and I are also Relocation certified and work with a variety of businesses, both national and local, offering a consistent stream of buyers and sellers.  Technology in our business is a great benefit. However, what really sets my team and I apart is that we consistently look for buyers for our sellers and sellers for our buyers, the old-fashioned way… We get on the phone and prospect for business! There are many facets to our proven successful marketing plan, and we are happy to share them in greater detail with any interested buyers or sellers!

How to Navigate the Maze that is Home-Buying!

By: Marian Camacho - Associate Broker

For most people, buying a home is the biggest purchase they will ever make.  For any buyer, especially a first-timer, the process can be quite overwhelming.  You don’t just find a home you love, write up an offer and receive the keys in a box wrapped with a big red ribbon! We only wish it would be that easy.  There are many different grueling steps in between home search to closing that we as Realtors help our clients navigate. 

So where to begin?... I believe it is vital to start by enlisting the help of a professional, like myself or someone on our team.  As your Realtor, we then connect you with a preferred lender to help you discover how much of a home you can afford. We're talking monthly house payment and down payment.  The most important thing to know out of the gate, is what’s affordable for you and your family. You may love that $300,000 home down the street, but is it worth stretching your finances so thin that your family is eating Ramen Noodles for the rest of your lives?  It’s something you have to think about.

Next comes the fun part... House Hunting!  We sit down with you for a buyer consultation. That's fancy wording for us getting to know what you want in a house.  Is it a big yard, a huge family kitchen?  With that information, we then set you up on a personalized portal search and send the listings straight to your email inbox.  Part of our job is to save you hours upon hours of online searching, often on sites that are unreliable…(I won’t mention any names.) From there we take you to view the homes you choose, in person. When you find something you like, we sit down and write up the offer with you!  The vast experience of a Realtor can not be something you pass up on.  There are too many rigors and rules that can trip you up in the home-buying process if you don’t know what you’re doing.

The greatest piece of advice I can offer to buyers in the process would be to not be afraid to ask questions to your Realtor or lender. If you’re not sure about something, ask!  If you’re still feeling overwhelmed, take a step back and breathe.  Keep your eye on the prize, which is in owning your own home. Purchasing a home is an important and very rewarding accomplishment in life. If you focus on the ultimate end-goal, you should feel much better afterward.

If you or someone you know is looking to buy or sell a home, Call Me Today! 505-264-3344!!

Our team has helped more than 3,800 families move since 1986! We can help you too!!!

Choosing a Top Team to Sell Your Home

Cheryl Marlow - Team Leader - Cheryl Marlow & Associates

Keller Williams Realty

You would think that it would be difficult to take over the sale of a home after it's already been on the market for some time… but for our team, it's more an opportunity than an obstacle.  For almost 30 years now, we have specialized in taking over the representation of homes that have been on the market for an extended amount of time.  Often, we're taking over the sale after a handful of agents were unsuccessful in selling the home.  It is a challenge, but one that we know how to take head on. 

If a home lingers on the market for too long, unfortunately it can develop a reputation, and may even be categorized by buyers as “overpriced” or “flawed” because of the number of days it has been sitting on the market.  To avoid that, you need professionals, like myself and my team, at the helm of the selling process to guide you to a successful close.  So how do you do that?  Well, if a home has been sitting on the market for longer than average, that immediately tells me that the price is likely too high when taking our current market into consideration.  If the price isn’t the problem, it could very likely be a result of poor marketing or complete lack of marketing.  My team markets homes to over 350 websites, a group of elite Realtors in the Greater Albuquerque Area, and often on the air on 770 KKOB-AM radio or even the local news.  If you list with us, we work hard to get your property seen, no matter what. 

With the amount of inventory the Greater Albuquerque Area market is seeing, it's important to make your home stand out in that sea of "For Sale" signs.  That's why when I, or one of my team members, go out to your property for the first time, you'll see us taking notes.  We're writing down what makes your property unique and noting all of those special features that will appeal to buyers.  On the other hand, we're also taking note of what needs attention.  Do you want a Realtor who just tells you what you want to hear in order for them to get you to sign the listing contract?  Or would you rather have a professional who will be honest about what needs to be done in order to get your home sold? My goal is for sellers to work with me in getting their home sold.  If a house needs some paint touch-ups and I think it will help to get the seller to the closing table, then I’m going to tell them about it.  I believe feedback is absolutely vital in a broker/seller relationship and it can ultimately help a seller keep more money in their pockets at the end of the day.

Looking to buy or sell today? Call my team at 238-3272 or email cheryl@cherylmarlow.com. 

Preparing Your Home for the Market

770 KKOB Residential Real Estate Expert Report 

Marian Camacho - Associate BrokerCheryl Marlow & Associates

As it is... preparing a home for the real estate market can be a challenging and overwhelming thing.  Add in more competition with the influx of inventory we've been seeing, and that should give sellers more than enough of a push to take the right steps in getting their home "For Sale" ready! 

Right now there are more than 5,000 homes and condos on the market.  That's an increase in more than a thousand properties since February and we can expect to see a continual rise in inventory over the next couple of months.  At the same time though, we are going to start to see more sales as buyers are looking to make a move in these warmer months and get settled before school starts again in the fall. 

For any homeowner preparing their home for the Albuquerque market, I would start with 3 tips:

1.) Hire the right agent!  Our team is unique as we are comprised of several people who specialize in each area of the home sale process, from listing strategies to marketing to ensuring a smooth closing.  It's important to find a professional that knows how to navigate this tough market! 

2.) Consider how your home will show to a potential buyer.  Start with a deep clean and de-clutter.  You want buyers to focus on how great your home is, not how messy it looks.  

3.) Be realistic about the price.  If you truly want to be one of the 20 out of every 100 sellers moving every month in the Greater Albuquerque Area, you have to be competitively priced.  If the house up the street has the same square footage as yours, more updates AND is better priced, what home do you think a buyer would go for?  It really is something to think about...  Be smart about pricing and listen to your Realtor's advice because if they know the market, they know what it can bear!

If you're interested in receiving a free home value consultation from the Marlow & Associates team.  Call 505-923-4745 or email us at cheryl@cherylmarlow.com. 

Choosing the Right Realtor

Choosing the Right Realtor

Selling or buying a home should be like any other business transaction, but all too often buyers and sellers make emotional or impulsive decisions that can in turn cost them money and time. Choosing the right Realtor to market a property or negotiate a sale is the most important step in the process.  

When selecting a Realtor, have high standards just as you would when hiring an attorney or doctor.  For example, a lot of sellers will hire an agent offering the lowest commission. You have to remember, you get what you pay for.!  Do you want a negotiator with a lot of expertise to protect your equity?  If you had a lawsuit that was worth the value of your home, would you hire the cheapest attorney to protect you or the best attorney you could find?  If you had surgery, would you look for the cheapest doctor?  Or you would look for the best doctor?  The same should be true for the Realtor you hire.  In today’s highly competitive market it takes time, knowledge, expertise, targeted marketing, and a lot of hard work to get the job done and to get it done right!

In our current market, choosing a professional can even make a difference in whether or not you sell your home and how much goes into your bottom line.  I’ve practiced real estate for going on 29 years and have negotiated nearly 3800 contracts in my career.  If you want real results, hire a real professional.  I have a very strong team to back up my experience.  We keep you informed and have one of the best percentage of list price to sales price ratios out there.  Hiring the right agent in this market will make a significant difference for both buyers and sellers and their bottom line.



If you are looking to buy or sell a home today, call our office at 505-923-4730 or email us at cheryl@cherylmarlow.com.  

November Market Statistics

The Greater Albuquerque Association of Realtors has released the November market statistics and I have looked over them in length.  Here are some of the highlights.  In November, 658 homes and condos sold.  That’s down from October’s 827.  However, there's always a silver lining right?  For us, it’s that the 658 sold last month, is actually an increase when compared to the same time last year when just 617 were sold.

Unfortunately the upper end is still suffering from a lack of activity.   Maintaining our market’s consistency…we saw just 4% of the total sales above $500,000.  As expected, most of the sales were made below the $250,000 magic mark totaling for nearly 73% of all of the homes and condos sold in November.  That of course means 23% of sales were between $250,000 and $500,000.

Another thing that stood out to me in the report is supply and demand.  Our market is still out of balance.  In November there were 4,741 homes and condos available.  Out of the 4,741 only 658 sold.  Those numbers tell me that only 14% of homes and condos available in were purchased.  That's 14 out of every 100 homes and condos. This time of year it is a price war and a beauty contest more than ever.  That’s why it’s so important to have an experienced Realtor on your side who will tell you the truth about how you should price your home and show your home in order to get it Sold!

If you would like to buy or sell a home today please call my team at 505-923-4730 or 505-238-1000.

Cheryl

Home Not Selling? What you should keep in mind...

When a home's not selling, there's a reason, and often there's more than one reason why a home continues to sit on the market.  We all know it can be very frustrating to put that For Sale sign in the front yard, expecting a fast sale, only to find that after months you’re still waiting for an offer. I’ve said it before and I’ll say it again… if you want to sell your home in this market, you have to be competitively priced and your home has to show well.  

Pricing, by far, is the most important thing to consider!  Inaccurate pricing can kill a potential deal.  On the other hand, a home priced at market value peaks the interest of agents and buyers. Overpricing simply chases everyone away. In today’s market, the most serious sellers are pricing their properties slightly below market value to generate excitement and activity.  That in turn can lead to a faster sale, especially with all of the competition out there.

You want to be in the top 2 in your area when it comes to pricing.  And if your home doesn't show as well, then you need to be the best deal out there in your price range.

Another reason why your home could be sitting on the market is insufficient exposure.  For Sale By Owners, I'm talking mostly to you. If you’re attempting to sell your home on your own, or with minimal marketing, you need to reconsider. You may have the best home out there, but if no one knows about it, it won’t help you get your home sold. Hiring a Realtor that develops comprehensive marketing strategies is absolutely key.  Realtors like myself will create a compelling MLS listing, effectively market your home on the  internet and showcase your home to top agents in the Greater Albuquerque Area.

Last, but definitely not least, we need to talk about the condition and appearance of the home.  Buyers may see seven or more homes in a single day. The most memorable home will be the one that seemed the brightest, the most spacious, and the most cheerful.   Remember, clutter can distract a buyer from the beauty of your home.  Remove the clutter and a buyer will be able to better envision themselves living there.  A real estate professional can offer guidance in that department.

It pays to have a Realtor working for you on both sides of the deal! 

Call my team today for more information on how we can help you! 505-923-4730 

August 2014 Market Statistics

In the month of August the Greater Albuquerque Association of Realtors reported 895 closed single-family, detached homes and condos.  Almost tied with the 898 sold this past July and 5% below sales we experienced in August of 2013.  We also saw more than 950 pending sales in August.  I’m encouraged by those closing numbers and at the same time I am closely monitoring supply and demand as with 1700 new listings in the month of August we have an oversupply of inventory of 5500 homes.

As usual, we saw quite a bit of activity in the Northeast Heights.  What was different this time around was an increase in activity in some areas West of Coors.  The southwest and northwest heights each had more than 40 sales in the month of August.  And I have to mention the East Mountains, as I do quite a bit of business out there and also live out there.  The market is still very slow.  In fact in the month of August there were only 41 detached homes sold.  That’s less than 5% of the total detached sales in the Greater Albuquerque Area.  That area continues to be a challenge, but we are seeing activity.  That’s why it is so important for today’s sellers in these tougher areas to be realistic about pricing and realize that they are constantly in a price war and a beauty contest. 

Maintaining our market’s consistency, we saw most of the sales under that $250,000 mark.  In fact 75% of sales last month were under $250,000.   22% of total sales were of homes and condos in the $250 to $500,000 range.  That means only 3% of sales were over $500,000 last month. 

       

Top Means for Buyer Appeal

Inventory of available homes is dramatically increasing. I want to share some tips on what sellers can do to help their home appeal to buyers! When you put your home on the market, you are entering into a price war and beauty contest! Let’s focus on the top objectives to concentrate on when preparing your home for a showing!

Great, what’s number one?

Without a doubt, curb appeal. It’s the first thing buyers see on the internet, and when they pull up to the house. Buyers will decide to see your home or rule it out based on that first impression. Cleaning the yard, fresh paint on the trim, making it inviting, is vital.

I can understand that. What can you advise about the interior?

When a buyer is going to look at your home, they’re not trying to view it as your home, but instead to imagine themselves living there. Remove excessive personal belongings and clutter. Focus on the primary areas such as the kitchen, living room, and owner’s suite. These are the areas that cause a buyer to fall in love with your home! There’s always a balance between living in a home and having it ready to show. Too many personal photos can be overwhelming, but a few family photos strategically placed can show that this is a happy home for a happy family! A common mistake we see is a house looks amazing, and then you open a closet and it’s like an old sitcom scene with things flying out and hitting you in the head.

Anything else that comes to mind?

Our clients often ask us to give staging ideas, which we’re happy to do. There are professional stagers that may charge up to a few thousand dollars. One of the benefits we offer our sellers is that we have partnered with a fabulous stager who will come into your home for a nominal fee for 3 hours and work with you to help rearrange and regroup your existing furnishings and décor! This will help maximize the show-ability and sale-ability of your home, giving you the best chance of winning the home beauty contest! 

DIY Homebuying

Can you tell us why it's not a good idea to buy a home without using a Realtor?

Absolutely! Buying a home without using a Realtor can definitely be a risky choice. A buyer might think that they're making a smart financial decision in trying to cut expenses by not enlisting the aid of an expert in the real estate industry, but in reality, they could be making exactly the opposite.

Why should buyers elicit the help of a Realtor?

It's simple. Realtors, like myself, are experts in their profession! Buyers who try to represent themselves in a real estate transaction may have knowledge based on previous experience with buying or selling, or reading some real estate know-how books; Realtors, however, live and breathe real estate. And while books are great (I myself read up constantly), they don't represent all of the complex rigors and rules of our current housing market. It's our job to know all of the ins and outs of every real estate transaction, as well as to make all aspects of the sale as smooth and swift as possible.

Can you give us some examples of times when a Realtor is a necessity in a real estate transaction?

Well, I believe we are needed throughout the entire process in order to ensure a great transaction, but let me give you a couple of specific examples of where we are an absolute necessity. First of all, the biggest thing we are needed for is to help clients weave their way through the many dilemmas that plague current market - loan qualifications, appraisals, and renegotiations. Buyers and sellers hire agents that know the process and understand market value so that they don't pay too much or sell too low. And at closing time, unrepresented buyers are at a huge disadvantage. The reality is, if they're in a multiple-offer competition over  a home, sellers and their agents would much rather work with a buyer who is represented by an agent like myself that has a good reputation of closing home sale transactions. In other words, you could be out of the running because you're unrepresented and that shouldn't be a risk you're willing to take on possibly the largest purchase you'll ever make.

As always, who do you know that needs to buy or sell real estate today? Thanks!!

Why Keller Williams Realty? with Marc Guggino

This week we had a guest speaker, Marc Guggino, Qualifying Broker of Keller Williams Realty, discuss our company, some of the reasons why Cheryl switched from Prudential New Mexico Properties to Keller Williams Realty, and even the fun details of his personal history with Cheryl!

Real Estate Search Engines

How does someone typically start the process for buying a home?

With the do-it-yourself trend, Bob, so many people start by looking online. They use real estate search engines like Zillow and Trulia.com. This gets people excited about the process, looking at the available pictures and general information. However, I caution my buyers and sellers that oftentimes the information is not accurate. I have seen prices too high or too low, houses that were sold months ago and still show up as available to buy or rent. It can be very confusing.

 

Why is that? Where do these websites get their information?

Licensed Brokers upload accurate information into the Multiple Listing Service, or MLS, as required by law. Search engines like Trulia and Hotpads.com have limited access to this data, and they offer it for free to people searching for houses. Yet, these sites are really just another way to sell advertisements as they are not monitored for accuracy and are often unreliable. As Brokers, we can’t control what they choose to promote. The MLS is the gold standard, with information updated daily and only accessible by a Realtor. 

So you’re saying that a buyer really needs to look at the MLS?

Absolutely! As a Broker, I make sure that my buyers and sellers are obtaining current and accurate information and offer them expert advice on what is often, for many of us, the biggest financial decision we will ever make.

I gather that searching online can be only an initial step?

I love the online process when it comes to the buyer. I can set up a portal to the MLS for a buyer with a search to their specific preferences, such as the desired area and price range, sent right to your inbox; as new homes come on the market, it will continue to send them listings of homes that fit their criteria. Only an agent can access the real, live information about homes for sale in our area. So call me today and start your home search!

Purchasing Investment Properties

I believe that everyone that possibly can should buy 1-2 rental homes this year as part of their financial plan. Real estate is still one of the number one long term investment strategies that makes sense. Many factors make this the perfect time to invest in real estate for the future.

How does the down turn affect this strategy?

Prices hit the low point, creating an incredible investment opportunity for the investor. As the market stabilizes, values increase, you will benefit from an increase in equity. Many of the banks are accepting short sales (in fact, we recently got two short sales to be approved in less than 4 weeks!), which is taking less than what is owed on properties to avoid foreclosures, resulting in great deals for buyers.

What are some of the factors that make this a good time in your opinion?

Interest rates are still at an all-time low. Sellers are negotiable. You control when you buy or sell so you can buy low and sell high. With a reasonable down payment, your investment can produce cash flow now and into the future. One of my favourite things about rental houses is that the tenant makes the monthly payment for you. As the owner, you benefit from the appreciation and don’t have to make the payment, I think that is a pretty good deal!

Isn’t it more difficult to get financing as an investor?

Many people think that! However, there are still great programs out there for people with a down payment and good credit. If you don’t fit in that category, you can still buy an investment property with owner financing. As I always say, “If you don’t buy now, you’re going to say ‘I wish I had bought then’.”

As always, who do you know that needs to buy or sell real estate today? Thanks!!

Luxury Home Market

In the Greater Albuquerque Area, the luxury real estate market is defined as a home valued at $500,000 and above. Over 4,500 homes are currently for sale in the Greater Albuquerque Areas, and out of that 415 are priced in excess of half a million dollars. This means that the upper end market currently represents just over 9% of the total inventory available. What we report month after month, the 3-5% of all the total sales. The supply and demand in the upper end market, we do still have an over supply.

What does it take to get a home like that sold?

All it takes is a pretty sign, a shiny lockbox, and an MLS listing. Ha ha ha! Just kidding, I only wish it was that easy. Luxury real estate is definitely a niche market. The top 3 things to focus on in the upper end market are as follows:

#1: Work with an experienced luxury home specialist, like myself, of course! Seriously, with over 3,000 Realtors in the area, less than 2% of agents qualify and are invited to be members of an exclusive network of agents that specialize and consistently sell in this price point.

#2: You have to have an aggressive and creative marketing plan, not to mention a sizable investment from the listing agent towards the marketing campaign, to succeed in this competitive price point.

#3: As in all price ranges, but especially in this price point, the price war and beauty contest is absolutely critical and a luxury home specialist can help you determine exactly what the top value is to get your top dollar in this upper end market.

How many have sold over the past year?

Since March 1, 2013, 398 properties have closed above $500,000. A sold sign becomes even more difficult as the price point reaches the million dollar mark. Historically speaking, the 2^nd and 3^rd quarters are the most productive, so if you’re thinking of selling an upper end home, now is the time to do it!

As always, who do you know that needs to buy or sell real estate today? Thanks!!

Top Ten Reasons to Own a Home

“Real Estate segment with our Residential Expert Cheryl Marlow, at Keller Williams Realty!”

Good morning, Cheryl! So today you want to give us some great reasons to own a home, is that right?

Good morning, Bob! Yes, I do! Let me start off by saying that home ownership is an intrinsic part of the American Dream, and it is an amazing feeling to walk through the front door of a home, and know that it’s yours. Not only does owning your own home give you a reason to be proud, but it’s also a great financial move. Purchasing a house is probably one of the largest investments you’ll ever put so much effort and fiscal responsibility into; with time and patience, it reaps great rewards!

What are some of these great rewards?

In my opinion, the top ten reasons to own a home are:

1.   Real estate appreciates in the long term, giving you a good return on your investment.

2.   The alternative is to pay rent, which benefits your landlord and does nothing to improve your finances!

3.   The interest on your mortgage is tax deductible!

4.   In an emergency, you can borrow against your home equity.

5.   A home is a leveraged investment using the bank’s money if you’re financing a mortgage. Who wouldn’t be excited about that?

6.   A home purchased with a fixed rate mortgage has a stable payment schedule that becomes easier to pay over time because of inflation.

7.   Owning a home is a good way to diversify your assets.

8.   Home ownership clear of debt will help you retire comfortably.

9.   Owning a home is still one of the most important steps towards financial success and security!

10. And, of course, you can always change your home by painting, remodeling, landscaping, etc., and the only person that benefits is you!

Great reasons! Is there anything else you’d like to touch on?

Bob, when the real estate market changes, concerns rise about whether or not it makes sense to purchase a home in a particular market environment. With today’s affordable home prices and low interest rates now is a great time to buy your first home or to sell your current home and purchase your dream home!

Home Inspections & Warranties

This morning we have a guest speaker with us today, Mr. Scott Herrmann of ABQ House Detectives and Assurance Home Warranty, filling in for Cheryl Marlow. Good morning, Scott. Can you give us some information on home warranties and how they work?

Good morning, Bob. We have had great success working with many of Cheryl’s clients for several years. As a licensed home inspector, I would advise obtaining a home inspection and warranty, and here’s why. A home inspection is vital to the process of purchasing a home, negotiating repairs, and fully understanding how to take care of your new home.  A home inspection should reveal potential repair items, which, in turn, can save both buyers and sellers thousands of dollars.

Tell me about home warranties.

A home warranty is a one-time annual premium that is renewable, and covers either the repair or replacement of these home system components that often breakdown. It’s simple: when it comes to home warranties, we PREACH. Plumbing, roofs, electrical, appliances, cooling, and heating.

So what kinds of problems do warranty companies run into?

The most common issue is when people assume certain things are covered, when, in fact, they aren’t; or they fail to contact their home warranty company before making repairs. So the lesson to be learned here is that it’s important to read and understand the warranty contract thoroughly in order to ensure that you’re covering all of the bases. You can also contact me directly with any questions!

It certainly sounds like home warranties are important!

They most certainly are! Warranties protect all parties involved in a home sale transaction. They protect buyers and sellers from unexpected expenses that can end up burning holes in their pocket. Because buying a home is such a big investment, and probably one of the most important purchases you’ll ever make, it’s imperative to work with professionals, from your Realtor, to the inspector, to the home warranty company.

Scott, you had mentioned roof coverage.

Well, yes, Bob. Let me forewarn you that I have found home warranty companies out there that provide limited or no roof coverage, but at Assurance Home Warranty, we do cover roofs. At Assurance Home Warranty, we have the highest available coverage, which is just one of the many reasons that, as an inspector, I feel confident they offer our clients the best warranty value.