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Your Dream Home Awaits
Expert real estate services for buyers and sellers.
Your Dream Home Awaits
Expert real estate services for buyers and sellers.
Find Your Dream Home
Find Your Dream Property with Erika Moya
Your Home is an Investment
Purchasing a home is a prudent investment that offers both financial and personal benefits. Historically, real estate has demonstrated stable long-term growth, serving as a reliable hedge against inflation. For instance, census data indicates that the median price of a home increased from $172,900 in the fourth quarter of 2000 to $417,700 in the fourth quarter of 2023, averaging over 6% annual appreciation. In New Mexico, the housing market remains robust, with home values rising by 3.7% over the past year, reaching an average of $301,607. Specifically, Albuquerque has experienced a similar 3.7% increase, with homes typically going under contract within 23 days. This upward trend suggests that investing in a home now could yield substantial returns in the future. Beyond financial gains, homeownership provides stability, a sense of community, and personal freedom that renting cannot match. With forecasts predicting continued growth in the housing market, now is an opportune time to consider purchasing a home in New Mexico.
Interest Rates
As of February 2025, mortgage interest rates have been on a downward trend, with the national average for a 30-year fixed-rate mortgage decreasing to 6.75%, the lowest level this year. In New Mexico, rates are slightly higher, averaging 6.88% for a 30-year fixed-rate mortgage. To make home purchases more accessible, many sellers and builders are offering incentives such as mortgage rate buydowns, which can significantly reduce the buyer's interest rate during the initial years of the loan. For example, D.R. Horton, a prominent homebuilder, has successfully utilized such incentives to enhance affordability and stimulate demand. Additionally, programs like the New Mexico Mortgage Finance Authority's FirstHome and FirstDown provide down payment and closing cost assistance to qualified buyers. With decreasing interest rates and available incentives, now presents an opportune time to invest in a home.
New Developments
Be the first to know about new real estate developments in the area. From new condo buildings to single-family home communities, we've got you covered. Investing in a new home offers significant advantages, notably builder-provided warranties and competitive pricing compared to existing homes. Builder warranties typically follow a 1-2-10 structure: one year for workmanship and materials, two years for major systems like plumbing and electrical, and ten years for structural defects. This coverage provides homeowners with peace of mind, safeguarding against unexpected repair costs. Remarkably, recent market trends indicate that new homes can be more affordable than existing ones. In the second quarter of 2024, the median price of a new home was $412,300, while that of an existing home was $422,100. This shift is attributed to limited resale inventory and builders' efforts to enhance affordability. Therefore, purchasing a new home not only ensures modern amenities and construction but also offers financial benefits and warranty protections, making it a compelling investment choice.
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Have questions about buying or selling a home? Contact me, I’m here to help every step of the way!
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