Don’t make these mistakes when buying your Albuquerque home

The Albuquerque real estate market is once again heating up. Homes that are priced and positioned well in the market are selling within a matter of days rather than months. So, buyers need to act decisively and swiftly to get one of the great values that exist in the Albuquerque, NM market currently. Here are a few mistakes you do not want to make as a buyer.
 
1.  Acting out of desperation. Learn the difference between jumping the gun and pulling the trigger. If you are prepared, by being preapproved for your loan, you can be ready to pull the trigger once the right deal comes along.
 
2.  Don’t hesitate. People often ask, can I offer a lot less than the asking price (without the benefit of a market analysis to tell them what the home is worth.) If the home is priced well and positioned well in the market, there may be multiple offers within a matter of hours.
 
3.  Do not ignore the market. Listen to what your realtor is telling you about a given area or subdivision. The last home I sold in Albuquerque’s Nob Hill, I recommended we bump the price up 10k beyond the market analysis because of location. It sold in two days. That was in July 2012.
 
4.  Don’t ignore the numbers. Have a good working relationship with a local mortgage lender. When yo u are ready to make your offer have them run the numbers and send a pre-qualification letter (only for the amount of your offer) to include with the offer. It will get noticed.
 
5. Do not overpay for the property. I am not just talking about the home price here. You can overpay by accepting a loan with a high interest rate, or a home that has hidden defects such as a leaky roof. Your agent will help you negotiate each leg of your purchase.
 
So now that you know a little bit more about Albuquerque’s real estate mistakes not to make, let me show what I can do for your next real estate home sale or purchase!  Albuquerque real estate is a passion! Just let me know how I can help.
Contact: 505-980-7788

 EMAIL JIM
Jim Gross -- Keller Williams Realty, Albuquerque NM
 
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