The GOOD NEWS is that Albuquerque's market (which includes Rio Rancho) continues to be stronger than nationwide averages. The bad news is that the market is still considerably slow. By slow, I mean that homes that aren't either prices low, or carry enough of what I refer to as "Emotional Appeal", are sitting on the market with few showings and only a glimmer of hope for selling.
Rio Rancho, being a suburb of Albuquerque has a lot of new development mixed with existing homes. During down real estate markets, often the best deals are found on the edge of development, and Rio Rancho has a lot of really great deals on homes currently.
Many home sellers are seeing that their ability to sell will have a lot to do with preparing the home properly to show well in this market, and the skill of their agent in helping them do that as well as the initial list price that they start the home for sale at.
If you are considering selling, you will want an agent with experience in staging if you want to capture as much of the value of your home as possible in selling. Some sellers able to hold off from selling in this market are considering property management. I have some good recommendations for you if that is a service you need at this time to "wait the market out".
If you need to sell, remember that people buy "Homes" not "Houses". People are not buying on price per square foot near as much as they buy the home based on how they feel as the walk through, so make sure your agent knows how to help you prepare the home to best attract the feel buyers need to feel as they go through your home. For the buyers out there, times are really good! Your goal is to not buy emotionally, and buy based on the logic. Any time you make decisions with your emotions, you end up paying more. I have seen my clients be able to get significant discounts on homes in this market which puts them in a solid position should their circumstances change and they need to turn around and sell their home. I am currently helping one of my clients who I helped purchase a home two years ago, sell their home for a profit. The key was to help them make a great purchase. Amidst a ton of "good deals", you will want to work with an agent to help you find a "great deal".
Because your own home is one of the biggest and can be one of the best investments we make in our future, it is important to have someone that is excellent help you find a great deal and negotiate a great sales price.
You probably already know this, but you do not usually want to be represented by the same agent that is listing the home when you go to buy.
Much of this you probably already know. As you interview agents, when looking to sell, look closely at their track record of selling homes vs. the ones that go unsold, and how long they take to sell them. When looking to buy in this market, look for an agent with great investment experience as that can really help in seeing your home as your investment and they will likely be great at negotiating as well.
My website is www.jaredmurphy.com. My email is jared.w.murphy@gmail.com, or you can reach me at (505) 615-2718. I would love to hear your questions and more about your situation and needs.
ZIP Code: 87124 Location Characteristics: Rio Rancho is one of the fastest growing cities in the US. As a large suburb of the Albuquerque metro area and a near neighbor of Santa Fe, many Rio Rancho residents that work in Albuquerque or Santa Fe have chosen Rio Rancho as home for the attractive housing prices, good schools, and friendly atmosphere. Rio Rancho affectionately named itself as "The City of Vision" and works hard to be such with its wireless internet connections for residents and a new City Center incorporating the ideas of "New Urbanism". Now that Albuquerque has limited ability to grow except to the west, much of the growth and development of the Albuquerque area has spread into Rio Rancho. Rio Rancho is also home to a very large Intel facility which provides high paying jobs and is very involved in helping to build the community.
Rio Rancho has become an attractive location for out-of-state buyers due to its high marks for its schools and comparatively inexpensive housing. The city was rated on Money Magazines "Best Places to Live" list coming in at 56th and also rated on Relocate America's Best 100 Places to Live. Intel, which is one of the largest empoyers in Rio Rancho, spends large sums to partner with the schools and ensure that the local children who are leaning towards engineering have oportunities to begin building those skills early.
About Jared W. Murphy:
As a graduate from one of the top business schools in the nation, Jared went to work for one of the leading business consulting firms in the world. After a number of years of work and experience in the corporate consulting world, Jared started his real estate career, helping his friends and associates make better returns through their real estate investments than they could through their 401k and their stocks and bonds. As a real estate agent with a strong business background and prior investment experience in investment real estate, Jared hit the ground running and was awarded the 'Fastest out of the Box' award by his real estate brokerage during his first year while competing against over sixty new agents and at the same time only working real estate part-time.
Jared found that though he loved helping businesses increase their financial performance and make better decisions, he loved helping individuals on their investments and especially their own home purchases even more. "Helping a business increase their performance or decrease their costs really feels good, but feels nowhere near as good as when you help a family make a great purchase in probably the greatest investment in their lives, their own home. If, after that, they then let you help them know and understand what real estate investment can do for them, and they take the chance and do it, and then it changes their financial lives forever, changing financials for a business does not even come close".
Jared is a strong believer that each person's greatest investment is their own home. He uses his skills and knowledge from the corporate consulting world to help his clients by listening to their needs and then help them find the right home, put in an offer, negotiate, and then close on their homes.
For those buyer or seller clients interested, he offers two free one hour real estate consulting sessions to talk with his clients about real estate investment, how it works, and how it can be one of the greatest investment vehicles in our days.
He brings with him the professionalism learned in the business world and the down-to-earth approach as a family man himself while he helps to determine your needs and find the right home for you.
When Mike and I were looking for a home in the Albuquerque area, we first had concerns about using a real estate agent because we planned to buy a new construction home. We decided we would call and see what Jared could do for us. We found out that not only did it not cost us anything to use Jared as a buyer’s agent, Jared helped us get an amazing deal on the new construction home we wanted and in the area we wanted. We ended up getting a better deal than the builder’s own construction foreman who moved into the same neighborhood.
One thing I really appreciated about Jared is that he had the relationships with the builders and knew their agents. Before meeting with us, he got a current list of what homes and deals were available from the builders in the communities we were interested in and then we went looking. Because he had spent so much time up front helping us narrow down what we wanted, we only had to look at a few communities before we found our current home. Thanks Jared! --Mike and Lindsay Erikson ----------------------------------------------------------------------------
In the process of purchasing my first home I am still amazed at the professionalism and the 'extra' measures taken by Realtor, Jared Murphy in helping me to achieve home ownership which has been known to many as the most daunting process ever. The efforts and attentiveness involved at a distance were impeccable. At the time I had lived in Seattle, WA and never had the chance to fly to NM to visually see the home and or to meet Realtor, Jared Murphy in person.
Because of this situation I had to solely rely on Mr. Murphy's confidence and experience that the home I was unable to see in person thus only via email as a digital photo was indeed the home for me. Upon arrival In May 2007 and closing shortly thereafter I am pleased with my new home! Many would consider long-distance Real Estate transactions a risk but this situation didn't seem to cloud the professionalism of Realtor, Jared Murphy at all; thus emails and phone calls continue to alert me of my purchase situation, home construction and other time constraints involved seemingly often before I could ask the questions.
Recommending Realtor, Jared Murphy for future consideration for myself and or others seeking home ownership is highly worthy of the cause. As long as I remain in NM, Mr. Murphy is my realtor. --Gorneth - 07/14/2007 -------------------------------------------------------------------------
As I have advanced my business career, I have had less and less time to spend on researching and purchasing real estate. I have been very fortunate to find someone like Jared that I can trust with assisting me with my second career, real estate investing. The best part about working with Jared is he is also an avid real estate investor and knows ahead of time what questions I am going to ask him. I am comfortable that when he brings me a potential buying opportunity, he has already done his homework. I have had the opportunity to buy multiple New Mexico properties that Jared has presented to me. Another point that makes Jared great is that it is obvious he loves making his clients’ money so he does not limit himself to just one town or one area. Jared has shown me properties from all over New Mexico and not just properties in his back yard. His passion for real estate has also allowed him to create a network that only helps him to find the best deals for me. I truly believe this is why the properties I have purchased from his recommendations have done so incredibly well. The areas he has presented opportunities to me in have been based on solid economics, and not just a short term hot market that has been artificially inflated by real estate investors. This is why the relationship I have built with Jared will last for as long as I am investing in real estate, which will be the rest of my life. --Fran D'Antonio -------------------------------------------------------------------
In the summer of 2005, I met Jared while touring an investment opportunity in the Dallas area, advertised through a local realtor in Phoenix who was connected to a property management and investment company. While returning back to Phoenix, we began to talk about real estate investing. Jared was and is very knowledgeable in both the Phoenix area and now New Mexico markets. He is associated with a group of Real Estate Specialists, whom I have met, that are having phenomenal success in their endeavors. Jared gave me good insights on how I should handle situations that arose from previous purchases that didn't quite work out as I had planned. I was glad I had kept in touch.
Most recently, as I have restructured my portfolio, I am about to close on my first purchase using Jared as my agent in New Mexico. I feel he did the area research in depth enough to make buying at the beginning of a new subdivision, and at the bottom pricing, to be a future profitable experience. Thanks to Jared, I felt safe enough to make this additional investment possible. --Janet Fiedler
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
