Now's the time to sell your Albuquerque or Rio Rancho Home!

>>>President Signs Bill

President Obama signed the bill yesterday which extends the $8,000 first time home buyer tax credit. The bill also created a $6,500 tax credit for move up buyers who have owned their current residence for 5 years or more.

First time home buyers, or anyone who has not owned a home in three years, will have until April 30, 2010 to find their new home. They will then have to close within 60 days to receive the credit.

The same thing goes for current homeowners. Here are some details on the two programs.


>>>The Tax Credit's influence on this year's Albuquerque Real Estate Market

The first time home buyer tax credit has had an influence on the Albuquerque Real Estate Market, especially in the last 2 months as buyers rushed to cash in on the tax credit.

Here's a chart that compares 2008 and 2009 Home Sales in Albuquerque (resale homes only):

2008 data (red line) followed a more normal pattern with a peak in the summer months. 2009 data (blue line) shows the sharp increase in sales in September and October as the window of opportunity to cash in on the tax credit was closing.


>>>The Tax Credit's influence on this year's Rio Rancho Real Estate Market

Here's a chart that compares 2008 and 2009 Home Sales in Rio Rancho (resale homes only):


The blue represents the sharp increase in closed sales in July, September and October.


>>>Now's the time to Sell your home in Albuquerque or Rio Rancho

Why am I saying that? Two reasons:

• Sales are up. The stimulus is working
• When the stimulus is gone, sales will go down. When sales go down, prices will go down.

If you are thinking of selling you need to get your house listed soon. Right now the average number of days it takes to sell is 67 days in Albuquerque and 87 days in Rio Rancho. These numbers are likely to increase over the winter.

A window of opportunity has just reopened. Don't miss it!

>>>Contact Me Today

I know the real estate market. I can help you price your home correctly for today's market conditions. Don't delay, waiting to sell will cost you money!!!

If you need a CMA on your Albuquerque or Rio Rancho home, then contact me today.

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