2012 New Mexico Home Sales Off To a Good Start

2012 New Mexico Home Sales Off To a Good Start 

791 New Mexico sales were reported during January 2012 to the REALTORS Association of New Mexico.  This number is higher than January sales reported for both 2010 and 2011 and continues the gradual upward trend of home sale transactions. 

“Buyers are responding to very favorable market conditions,” according to RANM President Debbie Rogers of Silver City.  “The uptrend of home sales, both in New Mexico and nationwide, is in line with the underlying fundamentals of a strong housing market – pent-up household formation, record-low mortgage interest rates, bargain home prices, sustained job creation, and rising rents.” 

Home prices continue to be a bargain, and reflect the number of foreclosures and short sales that represent just over one third of the market.  Nationally, distressed sales accounted for 35 percent of January sales, up from December 2011 (32% of total sales), but less than January 2011 (37% of total sales). 

New Mexico’s reported January median price was $163,500.  While this price is up slightly (0.4% from December 2011’s median of $162,922) it is nearly 4% lower than the January 2010 median. 

Nationally, the inventory of homes for sale represents a 6.1 month supply at the current sales pace down over 20% from a year ago.  RANM Executive Vice President Steve Anaya speculates that the fall in inventory of homes for sale is helping create a balance in the market, not favoring buyers or sellers.  “In several markets home buyers and investors are competing for foreclosure properties.” 

The trends and numbers reported are only a snapshot of market activity.  If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood. 

Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats.  Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Board of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only.  Information does not necessarily represent all activity in any market/county.  Figures based on reports run 2/17/12.  Visit www.nmrealtor.com (housing trends) for county and board statistics. 

The REALTORS Association of New Mexico is one of the state’s largest trade associations, representing over 5,300 members involved in all aspects of the residential and commercial real estate market.

 

 

 

No report of January 2012 activity was received from the Taos County Association of REALTORS.

2201 Brothers Road Santa Fe, NM 87505 505-982-2442 800-224-2282 fax 505-983-8809 nmrealtor.com       

The 3.8% Tax Is Not a Real Estate Transfer Tax

The 3.8% Tax Is Not a Real Estate Transfer Tax.

The Rio Grande Guitar Quartet will be in Deming March 16!

Press Release 

The Rio Grande Guitar Quartet, made up of premier New Mexico classical guitarists, Deming’s own –  Mickey Jones, Jeremy Mayne, Lynn McGrath, and Ben Silva will perform a concert featuring music by Torroba, Assad, Funk-Pearson, and Ourkouzounov. 

March 16, 2012

7PM 

Deming Performing Arts Theater

Historic Morgan Hall

109 E. Pine St.

Deming, NM

3201 Carlisle Blvd. N
$10 General admission/$8 DPAT Members

Tickets available at the door. 

www.dpat.org

www.riograndeguitarquartet.org 

Rio Grande Guitar Quartet 

The Rio Grande Guitar Quartet, made up of premiere New Mexico classical guitarists Mickey Jones, Jeremy Mayne, Lynn McGrath, and Ben Silva, is an exciting ensemble whose eclectic repertoire spans centuries and genres, including new compositions and new transcriptions.  The members of RGGQ bring a deep wellspring of expertise, talent, and experience through which individual musical personalities are melded into harmonious artistic expression.  Stirring performances for the Church of Beethoven performance series and GiG Performance Space series, among others, have inspired audiences and made the Rio Grande Guitar Quartet a group not to be missed!

“What a gorgeous program the Rio Grande Guitar Quartet presented on Saturday night. . . beautifully played, and put together with intelligence and style.” 

Spencer Beckwith, Performance New Mexico, 2010

In case you didn’t get the word…

It is my pleasure to tell you that Eva Luna has joined our company and is already hard at work as a real estate broker.  Eva has spent the last 10 years working with her husband, Juan as Luna Home builders.  She therefore is very familiar with home sales and dealing with buyers, lenders, surveyors, appraisers and title companies. She walked in the office and went to work!  And she speaks Spanish. You can reach Eva at 575-494-0969 or email her at eva@demingrealty.com.

Shalyn Collins, in addition to all her other clients and customers, is a Fannie Mae representative.  If you are looking for forclosed properties on the market give her a call.  Shalyn is also working with sellers who want to sell homes, land and commercial property and buyers who want to buy any of those properties as well!  Call Shalyn at 575-546-5281 or email her at shalyn@demingrealty.com.

Merline Hensley is a Certified Distressed Property Specialist.  If you are behind in your mortgage payments and want to work with the lender in a Short Sale situation, Merline is the girl to go to!  She has the expertise to make it happen and the patience it takes to see it through.  Merline also works with sellers in normal circumstances and buyers looking for just the right property.  Call Merline at 575-544-5841 or email her at merttom@yahoo.com.  She will get the job done for you!  And with a smile!

Larry Carreon has been with the office for many years and has an incredible knowledge of the market. Larry has a great rapport with the real estate community and serves as Deming’s representative on the Board of Directors of the REALTORS Assn. of New Mexico. He also establishes a wonderful relationship with his buyers and sellers and he speaks Spanish. Call Larry for your real estate needs at 575-494-0707 or email him at larry@demingrealty.com.

Del Peterson has been lisenced as a real estate Broker in New Mexico since 1973. If you live in Luna County, chances are Del has sold the land you live on at least once.  Del is our “go to” guy in the office for questions on land, farms and ranches. You can reach Del at 575-546-8818 or email him at del@demingrealty.com.

Sharon Wright has been with Deming Realty Co. for several years and for a few years before that she worked with a real estate developer. She has the personality that you fall in love with.  Everybody she works with accepts her as a life long friend! You’ll love working with her.  She loves it when she can help you find the perfect property! Call Sharon at 575-494-4482 or email her at sharon@demingrealty.com.

Linda Timberman is originally from Louisiana and you won’t have trouble figuring that out. She is smart, full of life and energetic!  Tell her what you need…then get out of her way.  She’ll find the right property for you and is tenatious about seeing that the deal closes. She is also great about getting your property marketed! Call Linda at 575-545-1055 or email her at lindatimberman@yahoo.com.

Dianna Lutonsky is our property manager. She is friendly, knowledgable, honest and hard working! You will enjoy working with her.  Dianna has been working with property management at Deming Realty Co. since 1998 and takes her job seriously.  If you need someone to manage your rental or you are looking for a rental call Dianna at 575-546-8818 or email her at dianna@demingrealty.com.

 

New videos about Deming!

The City of Deming has recently released (on their website) three very nicely done vidoes.  Please check them out! 

Industry and Growth

Retail Opportunities

Retire In Deming

 

The time to buy is NOW!

There are 186 residential listings on the market through the Deming-Luna County MLS at this time and they range from $27,500 to $1.55 million.  I bet we can find which one of those best fits your needs!  And…the interest rate is below 4% if you have a good credit score and the property fits!  What are you waiting for???  This is the time to buy! The first thing you need to do is contact a lender and pre-qualify for a loan.  Don’t go to 14 lenders however…everytime someone pulls your credit report, your rating goes down.  I haven’t figured the reason that happens…but it does!  Be careful.  Do your preliminary shopping before you actually give someone your SSN to do a credit check.  The first thing I would ask is “what are your closing costs?”  Sometimes when a lender offers an incredible interest rate, they make up for it in closing costs.  Pay attention! 

By pre-qualifying, you accomplish several things. First, you know your price range and you don’t go falling in love with something you can’t afford. The second thing is…when you find the right house and make an offer, you send along a copy of your pre-qual letter and the seller takes your offer much more seriously! And finally, as soon you have a signed contract to buy, you notify your lender and they get started on the process.

So…get pre-qualified and come see us at Deming Realty Co.!  We’re looking forward to working with you!  220 S Gold Ave, Deming, NM!  In the heart of town…you can’t miss us!

2011 New Mexico Home Sales Nearly Equal 2010 Numbers

13,233 New Mexico sales were reported to the REALTORS Association of New Mexico (RANM) during 2011. This number is 1.4% less than the number reported for the year 2010. Twelve of the counties reporting sales showed an increase in 2011 over 2012; 16 counties reported a decrease.
Fourth Quarter 2011 sales numbers were 8.4% higher than numbers reported for the fourth quarter of 2010. December, generally a slow month for sales, bucked the usual trend and 2011 numbers were only .3% less than November 2011
RANM President Debbie Rogers of Silver City says “The pattern of home sales in recent months seems to point to a modest market recovery. Record low mortgage interest rates, job growth, and bargain home prices are giving more consumers the confidence they need to enter the market.”
Distressed sales continue to be reflected in the median price of homes. Both the fourth quarter and December 2011 median price statewide was $165,000. For the year 2011, the statewide median was reported at $167,000. This number if 10% lower than the 2008 median price, but only 4.5% less than the 2010 median price.
Steven Anaya, RANM Executive Vice President, speculates “Median prices are still going down, but at a slower rate than previous years. This seems to indicate the number of foreclosure and short sale homes is slowly beginning to be a smaller portion of the monthly sales.”
The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.
Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats. Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of
REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Board of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of
REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only. Information does not necessarily represent all activity in any market/county. Figures based on reports run 1/18/12. Visit www.nmrealtor.com (housing trends) for county and board statistics.
The REALTORS Association of New Mexico is one of the state’s largest trade associations, representing over 5,800 members involved in all aspects of the residential and commercial real estate market.