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Do you want your home on the market, or do you want it sold? |
The real estate market in Rio Rancho has changed in the past year. Overall real estate values have not dropped; yet are not rising fast. Understandably so, sellers remain persistent on receiving top dollar for their properties. Equilaterally, buyers want to get the best value possible.
Public news surrounding Rio Rancho continues to make it a speculative area. Positive news includes: Rio Rancho being ranked as one of the fastest-growing cities in the US, the Albuquerque area forecasted as the strongest real estate market in the nation for 2007, Lion's Gate studios opening a new filming studio, and the University of New Mexico building a new campus here. Less than desirable spreading news I've heard is an overstock of investment homes on the market increasing supply/decreasing demand and our city's largest employer, Intel, laying off around 1,000 positions by the end of the year. The real truth of our real estate market is unknown; predicting it can be compared to predicting the stock market. Nobody knows for sure. It is purely my opinion as a Rio Rancho real estate expert that our market will get healthier with time, that the positives will outweigh the negatives.
These factors definitely all affect you if you are selling your Rio Rancho home today. We were blessed to achieve phenomenal growth in property values in recent years, but remember that these results are not typical.
With so many homes on the market, pricing and building value through pricing will be the difference between having your house on the market and getting it sold. I highly recommend you contact at least two real estate sales licensees to help with your homework since they will provide an objective opinion whereas yours alone may be tainted. They will research in depth what similar homes in similar areas have recently sold for which will establish a range where yours should be priced. For obvious reasons, this research should be based on what has recently sold, not what is now actively for sale. Homes on the market will be taken into account only if the market were increasing or decreasing dramatically - overall not today's marketplace. Negative elements that may or may not be in your control such as being adjacent to a poorly-maintained home, pet or smoking odors, or having outdated features will bring your value to the lower end of this range while positive factors such as lush outdoor living in groomed landscaping, upscale features (compared to the average in the neighborhood), and an overall tasteful presentation will bring your home to the higher end of this range. Throughout the process, keep in mind to be honest with yourself regarding your home's marketability. Drive around to view other homes for sale to make sure that yours would create value in your eyes in comparison to the competition if you were the buyer.
With today's buyer looking for the best value available, creating value is the greatest competitive edge you can have. This alone will create the outcome to the question "Do you want your home on the market or do you want it sold?"
Sean Remington, CRS, ABR is a licensed Realtor® with RE/MAX Masters and can be reached at 505-883-8979 or online at www.NMHomesOnline.com.
About the Author
Sean Remington is President of Sean Remington & Associates, an Albuquerque, New Mexico realtor. To learn more about Albuquerque Real Estate, point your browser to http://www.NMHomesOnline.com
Article source http://w4rum.com/2592.t
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| [By Kimber Fulcher] [05/May/07] |
