Blog – Property Management With Hart
If it’s a fixer-upper, it should come at a fixer-upper price.
This is a research tool provided by the Greater Albuquerque Association of REALTORS® (GAAR)
“Albuquerque and Rio Rancho remain seller’s markets” said GAAR President Don Martindell , President of the Greater Albuquerque Association of Realtors (GAAR), in a recent statement. Martindell continues to say “Our housing market is very fast-paced right now, “Homes that are priced right are selling fast in popular locations in Albuquerque and Rio Rancho, like the Northeast Heights, Paradise West and neighborhoods in the valley.”
The National Association of Home Builders/Wells Fargo builder sentiment index released Monday rose to 70 this month. That’s up two points from 68 in April.
The following are a few things to consider when planning on investing in a rental home in the Albuquerque Metro Area. People have been building wealth by investing in real estate since the beginning of civilization. In Albuquerque and Rio Rancho metro areas approximately ten percent of the single-family homes are an investment property. Just as every market is different every single-family home is different. This discussion is intended for the investor who wants to hold their property as a rental for at least five to seven years and not for someone who is looking to “flip” a property for a quick profit. The following are some of the things I have learned over many years of investing for myself and managing thousands of single-family rental properties for Single-Family Home Investors . These are simply my suggestions. Be sure to check with your financial and real estate professionals when developing your own plans and benchmarks.
Many popular rental neighborhoods in Albuquerque have homes that can cause lead paint concerns. Most Albuquerque pre-1977 rental homes are located in the established neighborhoods that mushroomed around the city center in the 1950’s and 1960. These lovely older neighborhoods especially appeal to young couples who rent as a first step from apartment living and people with young children who want a large yard for the play area. Although, the use of lead pigmented paint was banned in the US in 1977 due to rising concern over its toxicity, the possibility of lead paint toxicity still remain as long as some of the original home is standing.
