Tag Archives: deming NM

A look at real estate sales in the past 8 months in Luna County NM

The numbers are a little different.  Part of that is good and part is not so good.  This is based on all residential sales in the county…in town, in the county, site built and manufactured.  It’s just a snapshot.  The prices ranged from $9,000 to $308,000.  It’s just something to take a look at.

Jan 1 thru Aug 31    Sold     $ Volume          Average Price     Median Price      DOM

2013                          87        $8,496,359        $97,659              $95,000            246

2014                         101       $9,091,725        $90,017              $78,000            200

What does this tell us?  I have no idea.  The good news is that more folks are buying house this year that they were this time last year.  If the increase is sales keeps up, the rest will work itself out.

Ok…this looks good.

I just ran MLS sold stats from the first quarter of 2013 compared to the first quarter of 2012. And I think you’ll like it too!

Residential Sales Jan 1 – Mar 31. 2013. 28 sales closed for a total value of $3,178,184 with and average price of $113,507 and a median price of $112,500. Average days on the market – 205.

Residential sales from Jan 1 – Mar 31, 2012.  22 sales closed for a total value of $1,890,600 with an average price of $85,936 and a median price of $79,000. 183 average days on the market.

There is certainly room for improvement, but at we’re doing better than we were! Thank God! Let’s just hope it keeps improving!

There are still plenty of houses listed so give us a call! We’ll be happy to help you find the perfect house for you!

Sold stats Deming, NM Jan 2013

The sold stats from the local MLS seem to be in line with the state…we sold more residential properties in January, 2013 than in January, 2012 but for a little less money.  In January, 2013 there were 11 residential properties sold for a Total Price of $1,224,884 with an Average Price of $111,353, a Median Price of $110,000 and 219 Average Days On The Market.

In 2012 there were 6 residential properties sold for a Total Price of $801,000 with an Average Price of $133,500, a Median Price of $136,750 and 155 Average Days On The Market.

There are currently 229 residential properties listed for sale in the Deming/Luna County area.  The inventory is out there!  It’s time to buy!  Get qualified at your lender of choice and come see us!!!

Sales stats from Deming and Luna County

During the first three quarters of the 2012 we REALTORS in Deming have sold 79 residential properties for a total value of $7,347,634.  The average price is $93,008, the median price is $79,300 and the average days on the market is 193.

During the first three quarters of 2011 we sold112 residential properties for a total value of $9,476,229.  The average price was $84,609, the median price was $75,000 and the average days on the market was 192.

July Sold Stats from Deming and Luna County

The following numbers are taken from sales reported to the Deming-Luna County MLS.

In July 2012 there were 6 residential properties sold for a total price of $565,400. The Average Price was $94,233 and the Median Price was $101,500 with an average Days On The Market of 260.

In July 2011 there were 8 residential properties sold for a total price of $524,150.  The Average Price was $65,519 and the Median Price was $$73,950 with an average Days On The Market of 158.

From Jan. 1 til July 31, 2012 there were 55 residential properties sold for a total price of $5,032,035.  The Average Price was $91,492 and the Median Price was $81,035 with an Average Days On The Market of 214.

From Jan 1 til July 31, 21011 there were 86 residential properties sold for a total price of $7,295,529.  The Average Price was $84,832 and the Median Price was $74,950 with an Average Days On The Market of 187.

It’s a tough market.  Make your property as desirable as possible in curb appeal, condition and price!  We seem to have a little more activity lately…here’s hoping things are on an uphill swing.

Mimbres Valley Escrow Service news from the Deming Headlight

FID files restraining order for Mimbres Valley Escrow Services By Matt Robinson, Headlight Staffdemingheadlight.com Posted:   07/11/2012 04:46:38 PM MDT

Alleged incidents of Mimbres Valley Escrow Services not forwarding payments to clients has led to First Judicial District Court in Santa Fe and the state’s Financial Institutions Division to file a temporary restraining order against the owners and to warn customers not to make payments concerning the company. The FID has obtained a temporary restraining order against MVES and its owners, Anna and Jesus Delgado, as it conducts an investigation and audit into the company, which is located at 507 S. Gold Avenue. The actions come as a result of a complaint made against the company.

According to court documents, the FID received a complaint in June from a local resident who claimed MVES had stolen about $617,680 from her escrow account. The restraining order states that one of the victim’s real estate contracts was managed by MVES for the purpose of facilitating payments from a buyer, another local resident. Under the terms of the contract, according to the court document, the buyer was supposed to pay the seller the full amount of their contract by June 2012, but the seller did not receive the full amount of the contract payoff from MVES.

The buyer had informed the seller he had made the full pay out to MVES in April 2009 and had no remaining obligations under the contract.

Because the payment had not been made, upon investigating bank records, the FID expected to find the account balance at or above about $595,000. The FID examiners found the account balance was as low as $20,671 in April 2010, a year after the funds had been deposited into the account.

The court document also details a number of other violations, including checks unavailable for inspection and records in disarray, such as files stored on a bathroom floor.

“All customers of Mimbres Valley Escrow are strongly advised not to make any escrow payments to this company while the court order remains in effect,” J. Dee Dennis Jr., superintendent for the State Regulation and Licensing Department, said. “These customers should hold on to their payments until further notice and should not feel pressured by anyone, including the owners of this company, to make their escrow payments at this time.”

Customers with questions about their accounts should call the Financial Institutions Division at (505) 476-4692. Customers may also visit the FID website at www.rld.state.nm.us/financialinstitutions for information and updates about this case.

Local company Mimbres Valley Abstract and Title is reminding customers they are not affiliated with MVES.

Matt Robinson can be reached at mrobinson@demingheadlight.com

Real Estate Stats from Deming, NM

In the month of June, 2012, four residential properties closed that were reported to the Deming Luna County Multiple Listing Service.  The average price was $126,875 and the median price was $103,750.  During the first half of 2012, 46 residential properties sold for a total value of $4,188,135 with an average price of $91,046 and a median price of $70,500 and an average of 198 “days on the market.”

In comparison, in the first half of 2011 there were 78 residential properties sold for a total value of $6,771,379 with an average price of $86,813 and a median price of $74,950 and average of 190 “days on the market.”

The land sales have had a similar record.  In the first half of 2012 there were 14 closed land transactions for a total value of $208,650 with an average price of $14,904 and a median price of $5,750 and 402 average “days on the market.” This compares to the first half of 2011 with 20 closed land transactions for a total value of $326,700 with an average price of $16,335 and a median price of $8,000 and an average of 327 “days on the market.”

Today we have 193 residential properties on the market. 86 of those properties are on site built single family residences inside the city limits; 47 are on site built residences in the county; 20 are manufactured home in town and 40 are manufactured homes in the county.  We also have 239 land listings in all sizes and prices.

What does this all mean???  If you are a seller, you need to make your property as competitive as possible.  Price it right for the market, make it as showable as possible and be realistic about the time it will take to find the right buyer.

If you are a buyer, what are you waiting for? There are many properties on the market and the prices are lower than they have been for many years. The interest rates are at a record breaking low.  You still have to have good credit and decent debt ratios and an income to support your loan but the banks are lending money.  Be realistic about your offers though…many of these properties have reasonable prices on them.  Don’t listen to your friends who tell you houses are selling for 25% or 30% lower than they were a few years ago and make your offer at that price.  Most of the properties on the market have a listing price based on current market values.  Don’t make the seller angry from the beginning…be reasonable!  He may some room to negotiate BUT NOT 50%!  Have the same respect for the seller that you would want a buyer to have for you in the same situation.

Come on by… Deming Realty Co.  We’ll be happy to help you find that right property!

May, 2011 Residential Sold Stats in Deming, NM

One more month of 2012 has passed and with it, the market is still very slow.  In May, 2011 there were 12 residentials properties through the Deming-Luna MLS.  The total value was $1,133,400 with an average price of $94,450 and a median price of $83,200.  In May, 2012 there were 7 residential properties for a total value of $581,535 with an average price of $83,076 and a median price of $81,035.  I’m not even going to go into the year to date stats.

On a positive note…homes sales are picking up state-wide…so the increase will get here eventually.  Soon, I hope!  My point in all of this is that this is a good time to buy!  We have a total of 155 residential listings on the market right now, including manufactured homes, both in town and in the county and on site built homes in town and in the county. The average price of these home is $133,572 with a median price of $130,000.  The prices range from $19,900 to $350,000 and there are 99 listings under $100,000!  You will have a good selection in your price range!  There are some really good buys out there!

The interest rates are very low and there are some really good loans available for first time home buyers.  You will, of course need the income to support your monthly payment and a decent credit score to qualify.  If you need some help improving your credit, many of the lenders have counselors who can help you with that. Your offer will be taken much more seriously if it is accompanied by a pre-qualification letter from a lender.  Go to a lender and qualify for a loan and we’ll help you find the right property!  Don’t wait any longer for the prices to “hit bottom,” because we are there!

To see what’ available on the market log onto http://demingrealty.com

Sold stats from the Deming MLS ending April 30, 2012

April, 2012 was better than April, 2011!  We’ll hang onto anything that looks like a positive movement in the market! In April, 2012 we sold 12 residential properties for a total of $1,153, 600.  The average price was $96,125 and the median price was $57,000.  In April, 2011 we sold 12 residential properties but the total was $891,300 with an average price of $74,275 and a median price of $59,950.

To be perfectly realistic, however, the numbers for the first 4 months of each year show a different picture.  In 2012 from January 1st til April 30, 34 residential properties sold for a total price of $3,044,100 with an average price of $89,532 and a median price of $70,500.  During the first 4 months of 2011, 55 residential properties sold for a total of $4,748,979 with an average price of $86,345 and a median price of $74,880.

Our fervant hope is that April’s increase will continue throughout the year.  There are many properties on the market in all price ranges and the interest rate is amazingly low.  If you are a first time home buyer (meaning you have not lived in your own home for the past 3 years or if you are a Veteran) New Mexico Mortgage Finanace authority has many great programs for you.  Give us a call and we’ll give you numbers for lenders who service MFA loans.  It’s a great opportunity!  You can reach us at 575-546-8818.  We look forward to working with you!

Sold stats from the REALTORS Assn. of NM

 New Mexico 2012 Home Sales Up Over 8% from 2011 Numbers

1,758 sales were reported to the REALTORS® Association of New Mexico during January and February 2012.  This number is 8.1% higher than the number reported for the first two months of 2011 and 10.9% higher than the sales reported for same period in 2010.

February’s median price was $159,500.  This compares to the January 2012 median of $163,250, and a February 2011 median of $165,000.  The 2012 Year-to-date median is $160,000.  Median price means half the houses sold for more and half for less.

“Lower prices (which are influenced by foreclosures and short sales) mean great news for buyers and the increase in number of sales reflects the decision to ‘buy now’ of many of those folks who were on the fence about buying,” said Debbie Rogers of Silver City, 2012 RANM President.  “Many of our members are reporting increased activity in their market.”

“Real estate markets vary widely across the state,” according to RANM Executive Vice President Steve Anaya.  “As always, there are reporting markets with increases in sale numbers and markets with decreases in sales.”

The spring market is nearly here and there is evidence that it will be stronger than recent history.  Fannie Mae’s February National Housing survey found with low mortgage rates and falling home prices, 70 percent of those surveyed say now is a good time to purchase a home.  Also, more Americans surveyed say now is a good time to sell, rising to 13 percent in February, which is the highest level in more than a year but still low by historic standards.

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 3/16/12.  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.