June 2024 Market Statistics

Highlights (the highlights are a comparison between June 2023 and June 2024)

  • Median detached home price increased 0.4 percent to $365,000
  • Average detached home price increased 2.9 percent to $426,015
  • Overall inventory of detached homes for sales increased 19.8 percent to 1576

Additional Reports

  • June 2024 Showings Report
  • June 2024 Local Market Snapshot Reports (by zip code & MLS Area)

Credit GAAR.com

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DR Horton Homes Vista Grande Community

Welcome to Vista Grande, a new D.R. Horton community perfectly positioned at Northern Blvd. and Unser Blvd. in Rio Rancho, New Mexico. Situated within the Cleveland High School District, this community blends convenience and comfort seamlessly. Designed with modern families in mind, Vista Grande offers a range of thoughtfully crafted floor plans to suit every stage of life. Each home, built by America’s Number One Home Builder, combines comfort, style, and functionality.

Vista Grande extends beyond just homes, providing a wealth of amenities and recreational opportunities. Enjoy the natural beauty of nearby parks, walking trails, and green spaces. Take advantage of the convenience of shopping, dining, and…

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Does a Swimming Pool Boost or Hurt Your Home's Value?

Introduction Enjoying a pool at home on a hot day is a luxury many homeowners dream of. While pools can be a desirable feature, their impact on property value varies. Here's a detailed look at the factors influencing this.

Return on Investment

  • Homeowners can expect to recoup about 56% of their pool investment.
  • Potential home value increase of up to 7%, depending on various factors.

Key Factors

  1. Neighborhood Norms: In upscale areas where pools are common, not having one might make selling harder.
  2. Climate: In warm climates, pools are more valued. In colder areas, they’re a nice perk but not essential.
  3. Pool Condition and Design: A well-maintained, aesthetically pleasing…

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We Have Buyers Looking!

Are you considering selling your home in the Albuquerque area? Right now, we have 3,611 eager buyers in our database looking for homes just like yours!

Start your selling journey with us and gain access to a detailed report that includes:

  • Estimated Home Value: Understand your home's current market worth.
  • Home Value Trends: Track how the value of your home has changed over time.
  • Equity Information: See how much equity you’ve built up in your property.
  • Buyer Interest: Discover how many buyers are interested in a home like yours.
  • Market Trends: Stay informed about the latest trends in the Albuquerque real estate market.
  • Market Trend Analysis: Get a deep dive into the market dynamics affecting your home's…

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May 2024 Market Statistics

Highlights (the highlights are a comparison between May 2023 and May2024)

  • Median detached home price increased 5.9 percent to $372,500
  • Average detached home price increased 2.0 percent to $418,399
  • Overall inventory of detached homes for sales increased 29.4 percent to 1479

Additional Reports

  • May 2024 Showings Report
  • May 2024 Local Market Snapshot Reports (by zip code & MLS Area)

Credit GAAR.com

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Assumable home mortgages offer a unique opportunity for both buyers and sellers in the real estate market. These loans allow a buyer to take over the seller’s existing mortgage, maintaining the original terms and interest rate. This can be highly advantageous, especially in an environment where interest rates are rising.

For buyers, assumable mortgages can mean significant savings. Instead of securing a new loan at a higher interest rate, the buyer inherits the seller’s lower rate. This can reduce monthly payments and overall interest costs, making homeownership more affordable. Additionally, assuming a mortgage can streamline the buying process, as it may bypass some of the rigorous underwriting procedures of new loans.

Sellers can also benefit…

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Tierra Del Norte by Hakes Brothers

Starting at $400,990

Status: Active
School District: Rio Rancho Public Schools
Home Sizes: Starting at 1,638 Square Feet
Location: Sandoval County

 Welcome to Tierra Del Norte New Homes

Tierra Del Norte offers a vibrant living environment with convenient access to amenities and shopping destinations. Enjoy recreational options like the Rio Rancho Aquatic Center and the Rio Rancho Events Center. Discover the perfect blend of modern living, quality education, and convenience in this thriving Rio Rancho community.

Tierra Del Norte Community Features

  • Educational Institutions: Located within the Rio Rancho Public Schools district, with nearby schools including Colinas del Norte…

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Get rid of the Escrow Account

An escrow account is an account that is used to collect annual expenses like property taxes and homeowners insurance on a monthly basis. Banks often mandate that borrowers have an escrow account at closing so that they know that the borrower has the funds to pay their property taxes when they are due. However, after a period of time of perfect payment history many banks will allow the borrower to stop escrowing. At that moment the monthly payment goes down and although the borrower is still responsible for making the tax and insurance payments at the end of the year.

If the borrower is comfortable budgeting for taxes and insurance, they can elect to not have an escrow account upon closing thus immediately making their…

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Remove PMI

Private Mortgage Insurance (PMI) is insurance that protects the lender in case an owner should default on their home. PMI is required for buyers who get a conventional mortgage and make a down payment of less than 20%. Once the homeowner has an equity position of more than 20% the PMI can be removed with lender approval. Upon request, lenders will do a home valuation to determine if the PMI can be removed.

The cost of PMI for a conventional home loan averages 0.58% to 1.86% of the original loan amount per year.

If the borrower has an FHA loan, they can refinance into a Conventional loan once they’ve gained enough equity to help get rid of the PMI.


Contact me at by text (505) 350-8184 for more information on our Trusted Lender.

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