Paul Wilson

NOW is the best time to be buying -- pretty much anywhere in the country, especially investment in YOUR future.

For buyers nationwide, the inventory is extensive and "bargain priced" based on what we have been hearing from our associates all over. Absorption rates continue to RISE while prices generally are declining somewhat. Couple this with a continuing LOW interest rate of about 6% and you have an excellent opportunity to get instant equity. This is especially true in Albuquerque, Rio Rancho, Valencia County (Los Lunas and Belen), Corrales, Placitas, the East Mountain area (Sandia Park and Tijeras, especially) and other areas nearby.

Sellers are happy campers, TOO, as long as the property they are selling is priced right. What we are telling our sellers is to price BELOW the market so that buyers will find their property competitively priced. Houses, especially, that are "parade ready" and priced right (Yes, we ARE in a "pricing war" right now") sell within a month. Houses that are "rejected" by the market (days on the market of in excess of 30 days) are simply overpriced for the market (obviously, dependent on location and condition, but regardless, PRICE is ultimatley THE critical issue in ANY market).

Bottom line truth today: We are in a Beauty Contest (houses MUST BE "Parade Ready" to get top dollar) and a Pricing War. Sellers need to be ready to know and accept that truth and act accordingly. Those sellers who say "I don't NEED to sell" and overprice their houses will be waiting months (or years) for the market to change.

Paul Wilson, Home Team Realty (New Mexico), 505-293-1224