Home prices show upward trend in part...

Home prices show upward trend in parts of NM

There are 7 comments on the KOB.com Eyewitness News 4 - New Mexico story from Nov 20, 2008, titled Home prices show upward trend in parts of NM. In it, KOB.com Eyewitness News 4 - New Mexico reports that:

Real estate experts say even though home prices in the Albuquerque area and other parts of the state area are lower than a year ago, they're not as bad as other parts in the country.

Join the discussion below, or Read more at KOB.com Eyewitness News 4 - New Mexico.

Dogwatch

Albuquerque, NM

#1 Nov 20, 2008
Well that's some good news in a week of nothing but dreary news reports.
Hector_Sanchez

Santa Fe, NM

#2 Nov 21, 2008
"That is why some industry experts say now is a good time to buy."

Don't confuse "experts" with "agents." We are just now getting to the layoffs and unemployment portion of the recession...just getting started. State, county, city, Eclipse, and many small businesses will be laying off thousands in the next year. With fewer jobs, income will be declining. That means it's NOT the time to buy if you need to resell within 10 years or less.

In addition, interest rates will have to rise starting in about a year, in order to attract investors to buy all the newly-issued US govt. debt from the bailouts. Higher rates will kill any sales that might be happening then.
Hector_Sanchez

Santa Fe, NM

#3 Nov 21, 2008
Be careful people: Don't listen to real estate agents. They didn't predict the bubble, didn't acknowledge it once it popped, and now we're supposed too believe them when they tell us it's time to buy? Ha, ha, ha, ha.

You'll know it's safe to get back in the water when rents as a percentage of value return to their historical norms, and when family income as a percentage of value returns to its historical norm. Not before.

“hardcore engine revver”

Since: Dec 07

Los Angeles, CA

#4 Nov 21, 2008
It is a great time to buy, AS LONG AS YOU HAVE MONEY!

I am looking at a house that was listed for 315K just a couple months ago. It's now 290K. woohoo
Dan Frady GRI

AOL

#5 Nov 21, 2008
It appears that David Kittle needs to do his homework before giving false information.

Gallup, N.M. has been able to maintain an active real estate market. Not like it was a couple years ago but, we are selling houses and commercial real estate is active. As with the rest of America we have seen reduction in sales prices and as much as 20% to 30% in some price ranges.

We only wish that Mr. Kittle had been correct. Hopefully he will be correct in the near future.

Dan Frady GRI
Qualifying Broker/Owner
RE/MAX Combined Investments
Gallup, N.M.
lawrence

Rio Rancho, NM

#6 Dec 1, 2008
how is the far northeast area of albuauerque doing,on the real estate market.
Unknown

Albuquerque, NM

#7 Dec 2, 2008
The real estate market is great if you are scamming owners into letting you take control of their property then you list it as a rent to own, collect the down payment and the rents then let it go into foreclosure and you walk away with a nice profit. Looking on craigslist and the abq journal its a great business to be in, all profit and no income tax to pay to the irs...

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