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We're Feeling Good in Albuquerque and Rio Rancho!!
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July 2008 MLS Month in Review
The Greater Albuquerque Real Estate Market continues its trend as one of the stronger markets in the country, as reported by Cathy M. Olson, Chairman of the Board. REALTORS look forward to SWMLS projection that broader gains will be seen by the fourth quarter of 2008.
In the Albuquerque/Rio Rancho areas, Homes in the $200,000 to $249,000 show the strongest sales, but some of us notice that properties priced under $200,000 sell with fewer days on the market. Competition is hot and heavy as Buyers look for the best properties with the greatest value with an eye on potential equity built into the bargain.
Olson continues in her report that sales are in a pattern of rising and falling within a fairly narrow range. The Pending Home Sales Index, an economic indicator from the NAR is a forward looking indicator based on contracts signed, and represents about 20% of the transactions across the country. In our market in New Mexico, she also stated, Pending Sales are higher than Closed Sales, showing market strength for the next few months. A rise in contract activity is necessary for an overall housing recovery.
As more news is available and made applicable in our industry, the Housing Bill recently passed and signed by President Bush remains to be tested in the marketplace.
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• 1,855 sq. ft., 2 bath, 3 bdrm single story - MLS® $319,900 Trinity Estates, Rio Rancho - Absolutely beautiful home featuring T&G ceilings, Vigas, hardwood floors and a 'drop-dead' custom Kiva FP. Wonderful gourmet kitchen with ceramic floors,...
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• single story - $140,000 Roy, Mosquero - The Great, Wide-Open Spaces are still yours! Incredible view lot with spring, ponderosa, hunting, a virtual paradise on an excellent gravel road. Hunting, canyon viewing, exploring yet close proximity to...
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• 1,062 sq. ft., 2 bath, 2 bdrm single story - MLS® $179,900 Rio Rancho Estates, Rio Rancho - Feel that country air on one-half acre! Plenty of room for everyone! Wood floors in the kitchen and breakfast nook and NEW carpet and paint throughout....
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• 3,600 sq. ft., 3 bath, 3 bdrm single story - MLS® $750,000 Desert Ridge Trails, Albuquerque - Custom Tiara Home with all the PERKS and GOODIES you'd expect! Greatroom has Tongue&Groove celing with Vigas and a gaslog kiva fireplace. Here's a...
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• 1,169 sq. ft., 3 bath, 2 bdrm single story - MLS® $155,500 Ladera West, Albuquerque - Centrally located at Coors & Western Trails, convenient to shopping, churches, and schools. Stainless steel appliances and will include the stackable washer...
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