ALBUQUERQUE, NM – Bank owned homes will dominate the 2012 real estate market according to Albuquerque REALTOR® Joe Maez of Keller Williams Realty Westside.
Maez says that Albuquerque foreclosures are still driving the market due to problems in the banking system getting bank owned properties through the foreclosure process and into the market. As a result, he says the Albuquerque real estate market will continue to be affected by the flow of bank owned homes.
“Banks have battled a number of legal challenges, but the foreclosure inventory continues to impact the local market in a big way.”
Maez says that while buyers are getting some amazing deals right now, sellers are also seeing an uptick in price and buyer interest.
“It’s definitely a win-win for buyers and sellers in the New Mexico real estate market right now.”
He says another factor in the market that is making buyers take notice is the extremely low but rising interest rates.
“We have never before seen the national average for interest rates below 4% like this. Low rates in combination with low prices is a gift for home buyers right now.”
According to Maez, the powerful combination of low rates and low prices due to the large number of bank owned homes has spurred investor buying as well.
“Investors are the ones to watch. When we see investors coming into the market like we do now to pick up Albuquerque homes for sale from the banks, our experience has shown that it’s a great time to buy.”
About Joe Maez REALTOR®
Joe Maez is a proven real estate professional who knows how to do things right. Every day he is out there working to make the home-buying or -selling process easier for his clients. Regardless of which way the market has gone, Maez’s sales have gone up every year. He says, “If you really do a good job, you’ll always have clients,” and his track record proves it.
Joe, who has personally sold more than 500 homes in Rio Rancho and Albuquerque, has unique and extensive knowledge of the local markets. He works regularly in the Albuquerque New Mexico market, covering Rio Rancho, Corrales Real Estate, and Los Lunas.
For more information, contact:
Joe Maez REALTOR®
Keller Williams Realty Westside
8100 Wyoming Blvd NE
Albuquerque, NM 87113