Real Estate
Since its settlement in 1706, Albuquerque, New Mexico, has grown into a metropolis of over 700,000 people. The Sandia Mountains tower over one side of Albuquerque, while the Rio Grande Valley stretches out from the opposite side. The history and Southwestern culture of New Mexico add flair and flavor to the industry and economic progress of the city.
May of 2005 set Albuquerque, New Mexico home sales records for the 16th straight month, with 1,300. These figures show an increase of sales over last year’s figures by 26.3 percent and a spike in the average price to $202,273, 10.3 percent higher than May 2004. If you have the time, and want to perform a For Sale by Owner (FSBO) in Albuquerque, you will find many benefits to start soon and list while the market is booming.
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| Population 448,607 | Median Age 34.9 yrs | Household Size: 2.40 |
| Avg Commute: 20.4 min | Avg Income $38,272 | Avg Home Value: $127,600 |
| July High: 91.5°F | January Low: 22.2°F | |
Albuquerque FSBO
Why go at it alone?
The following checklist provides you with some of the top reasons to perform an Albuquerque FSBO.
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- Save on commission fees: Real estate commission charges are usually 6 to 7 percent of a home’s selling cost; cutting out the middle man can save you thousands. For example, Albuquerque, N.M., currently lists about 30 FSBO homes, starting at $109,490 and goes up to $1.3million. If you sold your home at the listing average of $270,974, and avoided the 6 or 7 percent commission fee, you would save $16,258 to $18,968. *
- Guaranteed selling of your home: Most online FSBO sites for Albuquerque offer you a money back guarantee. If you are unable to sell your home, they will refund the money you paid for posting on their site. *
- Trust and knowledge: Part of the hassle with real estate agents is finding the right one. As the most knowledgeable person about the home, you will directly answer questions from potential buyers and can resolve any doubts they might have. *
- Advertising and exposure: Online listings are highly popular and effective means of selling Albuquerque homes. The ability to list color photos, available space for your home’s description and strong exposure to buyers make it far more effective than newspaper ads. *
After you decide to sell your Albuquerque home FSBO, there are a few pre-closing tips to follow as well.
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- Price your home properly. The major reason FSBO homes don’t sell is over-pricing. Look at other homes in your Albuquerque area and price accordingly. *
- Make your home look presentable and clean. Unclutter rooms, scrub the floors and make sure you work hard on your exterior appeal, since this is the first impression potential buyers will have. *
- Think about hiring a real estate lawyer. They can help with negotiations, closing and hold the down payment. *
- Market your home. Exposure is your main priority. Lawn signs, open houses and brochures with information and pictures also help. *
- Home inspections: Since you will be responsible for repairing or disclosing facts about your home, you should have a home inspection done prior to listing your home.
Conclusion:
Ultimately, selling your Albuquerque home FSBO can save you thousands in commission fees and allows you total control over the process. If you have the time and want to make the effort, you can perform a FSBO and reap the most financial gains possible from the sale of your Albuquerque property.
By David Webster
A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®