From American Home Shield While both are great protections to have, home insurance and home warranties offer different types of protection. Learn what each covers and why you should consider purchasing both. Photo by: Shutterstock Owning a home is the one of the greatest investments you'll make in your life. Protecting your assets is not just smart—it's integral. The best way to do this is to purchase both a homeowner’s insurance policy and a home warranty. Purchasing both will cover your home, belongings, … [Read more...]
Are Millennials Finally Entering the Market?
By the KCM Blog with commentary from Corrin Martinelli-Griego It appears that Millennials are finally beginning to enter the housing market. In a recent report, CoreLogic looked at the annual net change in household formations over the last decade (see graph below): It appears this is the year that Millennials are finally moving out of their parents’ basements and finding a place of their own. And they are not all renting According to the National Association of Realtors’ latest Existing Home Sales … [Read more...]
Why You Should Stop Renting & Buy Today!
By the KCM Blog and Commentary by Val King, Senior Consultant, Q Realty, Inc. There are many young people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home. Housing Cost & Net Worth Whether you rent or buy, you have a monthly housing cost. As a buyer, you are paying YOUR mortgage. Every mortgage payment is a form of what Harvard University’s Joint Center for Housing Studies calls “forced savings.” “Since many people have trouble saving … [Read more...]
Buying a Home is 35% Less Expensive than Renting!
In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States. The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in Sarasota (FL), and 35% Nationwide! The other interesting findings in the report include: Interest rates have remained low and even though home prices have appreciated … [Read more...]
3 Reasons the Housing Market Should Thrive in 2014
by The KCM Crew Recently, HousingWire asked David Berson, chief economist at Nationwide, for his opinion on the near-term future of housing. Below are what Mr. Berson believes to be the three things you need to know about housing in 2014. We have included a quote from the article and a small comment from KCM for all three points. Number 1: 2014 should prove to be the strongest year for housing activity since before the Great Recession “Most economists expect an improved job market in 2014, with employment … [Read more...]
Mortgage Banking Dictionary
One of our preferred lenders sent this to us for a little laugh, the sad thing is most of these are true. All loans are unique in the Albuquerque Real Estate market so this is not an example of how they all are processed. Our Q Realty, Inc. agents have many wonderful loan officers to recommend that have processed several successful transactions. Please call us today if you are in need of recommendations! Borrower: Otherwise intelligent consumer who believes lender should kiss him on both cheeks and give him … [Read more...]
October Market Statistics for the Albuquerque Area
Here is the latest market statistics from the Greater Albuquerque Association of Realtors. October shows an upward trend on new listings and closed sales from one year ago. Source: Greater Albuquerque Association of Realtors … [Read more...]
Survey: Most People Open to Buying a Haunted House
Source: realtor.com and stewartabq.com More than half of home buyers are open to buying a haunted house, according to realtor.com’s 2013 Haunted Housing Report. Also, 35 percent of the nearly 1,400 people who took the survey say they have lived in a haunted home. Today realtor.com released the results of its Haunted Housing Report, which ran on realtor.com from Sept. 25 to Oct. 1 and explored consumer sentiments around haunted real estate. Survey results reveal consumer thresholds for purchasing haunted … [Read more...]
Questions to Ask Your Albuquerque Home Inspector Before Buying Your Home
When you buy an Albuquerque home, you need to know exactly what you’re buying. Imagine how frustrated you would be to find out that the hot water heater wasn’t working—in the middle of a shower! This is why you should have a home inspection before you buy your home. Though it is impossible for a home inspector to find everything that is wrong or could potentially go wrong, home inspections are an important part of buying your home. Before you hire an Albuquerque home inspector, ask candidates a few questions to … [Read more...]
Work by city lowers flood insurance costs – Albuquerque Business First
With all the recent rains in New Mexico, we felt this was very relevant information about our city. Albuquerque residents who have to buy flood insurance could get a 10 percent discount on their policies because of improvements the city has to its flood prevention and preparedness efforts, Mayor Richard Berry said. The insurance discounts are a result of favorable rating given to the city’s efforts by the Federal Emergency Management Agency, Berry said. FEMA gave the city a community rating of 8 in … [Read more...]