Albuquerque Real Estate Talk 491 - May 25, 2024 Albuquerque Real Estate Talk

Albuquerque Real Estate Talk: Episode 491 - Appraisals, Affordability, and Market Trends
In this episode of Albuquerque Real Estate Talk, Tego and Tracy Venturi discuss various aspects of the real estate market in Albuquerque as the summer of 2024 begins. Topics include the home appraisal process, issues arising with low appraisals, and the implications for buyers and sellers. They delve into newly released data on home affordability by the National Association of Home Builders, highlighting how Albuquerque compares to other U.S. cities. Cross-market demand is analyzed, showing where people looking at Albuquerque are currently based and where Albuquerque residents are looking to move. Additionally, the episode features the home of the week—an impressive multi-generational property in Corrales, NM. Current market trends are discussed, including a notable rise in price reductions. The show wraps up with insights into specific features that affect home values and provides useful tips for both buyers and sellers.
00:00 Welcome to Albuquerque Real Estate Talk00:24 Diving Into the Home Appraisal Process15:21 Exploring Home Affordability and Market Trends18:55 Cross Market Demand Insights21:46 Analyzing Current Real Estate Data Points28:26 Wrapping Up with Weekend Wishes