Real Estate News, Trends and Community Information

Featuring Rio Rancho and Albuquerque 

Welcome to our blog where you will find a wealth of information. Everything from local market statistics and home values to community happenings. We care about our community and want to help you find your place in it, like we have. Whether you are retiring here, looking to invest and diversify your investments, or just starting out as a first time home buyer, we are here for you.  Many of our Agency Team Members have lived in Rio Rancho for over 45 years.  Our community offers many options for the active family, including day trips to local sightseeing destinations.  Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 16, 2023

Affordable Housing

Affordable Housing

What are the solutions to create more affordable housing?  Interest rates are high... inventory is low...what is a buyer to do?

To combat the increased building costs, the home builders are planning to build more smaller homes.  These will be priced lower making it easier for a first time home buyer to purchase.

We will see the return of the 950 square foot homes in the builders portfolios.  

I think it is great to bring back the smaller home options.  The first home my husband and I purchased was 900 sq ft as a 2bed, 1 bath, 1 car garage.  

It allowed us to own our own home and build equity for when we were ready to purchase our next home.


This article share more about the return of the smaller homes - Affordable Smaller Homes

Take a minute to read all about it.


Sept. 9, 2023

Vampires of Electricity

Did you know that you have a Vampire in your Home?

With Electricity Rates at extremely high levels during these hot summer months, you need to learn about these Vampires.

An "electricity vampire," also known as a "phantom load" or "energy vampire," refers to an electrical device or appliance that continues to consume small amounts of electricity even when it is turned off or not in use but still plugged into an outlet. These devices draw power in standby mode or while in a "sleep" state to maintain features like remote control capabilities, displays, or timers. The cumulative effect of these energy vampires can lead to a significant amount of wasted energy and higher electricity bills over time.

Common examples of electricity vampires include:

  1. Chargers: Cell phone chargers, laptop chargers, and other battery chargers often draw power even when the device they are charging is disconnected or fully charged.

  2. TVs and Audio/Video Equipment: Many modern TVs, soundbars, and gaming consoles have standby modes that use electricity to power features like instant-on functionality or remote control reception.

  3. Computers: Desktop computers and monitors can consume power when in sleep mode or hibernate.

  4. Cable Boxes and Set-Top Boxes: Cable and satellite TV boxes often continue to draw power even when turned off, so they can respond to remote commands or maintain an electronic program guide.

  5. Printers: Printers may use a small amount of electricity to stay ready for printing even when not in active use.

  6. Coffee Makers and Microwaves: Some appliances with clocks or timers, like coffee makers and microwaves, can use power when not in use.

  7. Smart Home Devices: Devices like smart speakers, smart plugs, and smart thermostats may draw power for connectivity and updates even when not actively in use.

To reduce the energy consumption of these electricity vampires, you can:

  1. Unplug: Physically unplug devices when they are not in use, especially chargers and appliances you use infrequently.

  2. Use Power Strips: Connect multiple devices to a power strip and turn it off when not in use to cut power to all connected devices simultaneously.

  3. Choose Energy-Efficient Models: Look for Energy Star-rated appliances and devices, which are designed to use less energy when in standby mode.

  4. Enable Power-Saving Features: Configure your devices to enter low-power modes or turn off automatically after a period of inactivity.

  5. Invest in Smart Outlets: Smart outlets or plugs can be controlled remotely, allowing you to turn off connected devices when not needed.

By being mindful of electricity vampires and taking steps to reduce their energy consumption, you can lower your electricity bills and reduce your environmental footprint.

Sept. 7, 2023

Shop for your Mortgage Rate

Searching for Your Dream Home? Don't Forget to Shop for Your Mortgage Rate! 💰🏡

Hey there, future homeowners! 🏠 Are you ready to embark on the exciting journey of finding your dream home? 🌟 Before you start envisioning cozy nights by the fireplace or hosting epic backyard BBQs, there's an essential step you shouldn't overlook – shopping for your mortgage and interest rate! 💸

Here's why it's CRUCIAL:

1️⃣ Your Wallet Will Thank You: Your mortgage rate can have a HUGE impact on your monthly payments and overall cost of homeownership. By shopping around, you can potentially save thousands of dollars over the life of your loan. 💵💰

2️⃣ Tailored to Your Needs: Every homebuyer is unique, and your financial situation is no exception. Different lenders offer different loan options and rates, so explore your choices to find the one that suits YOUR needs best. 🤝

3️⃣ Boost Your Buying Power: A lower interest rate can increase your purchasing power, allowing you to afford a more desirable home or save money for other important life goals. 📈💪

4️⃣ Peace of Mind: Knowing that you've done your homework and secured the best possible mortgage rate can provide you with peace of mind throughout the home-buying process. 🧘‍♀️🧘‍♂️

So, what's the game plan? Start by researching various lenders, comparing their offers, and asking questions! 📚✅ Don't be afraid to negotiate and leverage your knowledge to get the best deal possible. Remember, it's YOUR future home – you deserve the best! 🏡❤️

Share your mortgage shopping success stories, tips, or questions below. Let's help each other make our home-buying dreams come true! 🤗✨ #HomeSweetHome #MortgageMatters #SmartHomebuying

Disclaimer: This post is for informational purposes only. Always consult with a financial advisor or mortgage expert for personalized advice. 📊📋

Aug. 29, 2023

Budgeting Home Ownership

Budgeting for Home Ownership

We talk frequently about budgeting to purchase a new home - from inspection expenses, closing expenses, down payment, and moving expenses.

But there isn't much talk about After The Closing.  

You are all moved in and boxes are unpacked - and surprise! an expense you hadn't anticipated.  At least, not yet.

Unexpected expenses can happen at any time - like the very high electric rates this summer.  No one anticipated a $200.00 increase or more in their electric bill.

Don't worry - You can do this!  As you are budgeting for the purchase of your new home, you also need to budget for after closing.

1) Keep an emergency fund for surprises.  Start by saving $1000.  A way I found to make saving and keeping this emergency fund is to set up a separate savings account and deposit $10.00 from your paycheck each time.  Ask your employer about doing this via direct deposit.   When it is in a separate account, it's not as easily accessible for spending.  Eventually build it up to cover approx 6 months of expenses.

2) Watch your utility bills.  If your bills seem high, you can ask for an energy audit from the power companies.  Also, be sure to un-plug appliances, charges, etc that are not in use.  You would be surprised how much a plugged in toaster, blender, shaver, gaming console, etc electric is used when you are not using the appliance.  It's called Ghost Electric User.

You can also check with the utility companies about Budget Billing.  This is a way to help keep your utility bill steady, as oppose to fluctuating with the seasons.


Need more ideas about Budgeting for Home Ownership?  Reach out and lets talk. 


Aug. 23, 2023

Housing Inventory in Rio Rancho, NM

Rio Rancho Housing Inventory
Every second counts in the housing market when there's so much demand for a relatively low supply of homes. DM me to learn more about how getting pre-approved before starting your home search will make you agile enough to snatch up your dream home before anyone else can.
absorption rate rio rancho housing
Aug. 15, 2023

Four Ways to Use Your Home Equity

Four Ways to Use Your Home Equity

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the Covid years, you’ve likely gained more than you think.

According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: 

While the pandemic created serious challenges, the silver lining for anyone who owned a home was the sizable equity gain. Understanding how home equity works, and how to leverage it, is important for any homeowner.”

Here are a few examples of how you can put your home equity to work for you.

1. Buy a Home That Fits Your Needs

If your current space no longer meets your needs, it might be time to think about moving to a bigger home. And if you’ve got too much space, downsizing to a smaller home could be just right. Either way, you can put your equity toward a down payment on a home that fits your changing lifestyle. A real estate agent can help you figure out how much equity you’ve got and how to use it when buying your next home.

2. Reinvest in Your Current Home

Renovations are a great option if you want to change your living space, but you aren’t yet ready to make a move. Home improvement projects give you the freedom to tailor your home to match your needs and personal style. But it’s important to consider the long-term benefits certain upgrades can bring to your home’s value. Lean on a real estate professional for the best advice on which improvement projects to prioritize in order to get the greatest return on your investment when you sell later on.

3. Pursue Personal Ambitions

Home equity can also serve as a catalyst for realizing your life-long dreams. That could mean investing in a new business venture, retirement, or funding an education. While you shouldn’t use your equity for unnecessary spending, using it responsibly for something meaningful and impactful can really make a difference in your life.

4. Understand Your Options to Avoid Foreclosure

Today the number of foreclosure filings remains below the norm, so there’s no need to fear a wave of foreclosed homes flooding the market. But unfortunately, there are still some homeowners who experience the foreclosure process each year. If you’re facing financial difficulties, having a clear understanding of your options and how your equity can help is crucial. Equity can act as a financial cushion that can be used in times of unexpected challenges or unforeseen circumstances that may disrupt your ability to make mortgage payments on time.

In an article, Freddie Mac explains it this way:

If exiting your home is the best option for you, selling with equity may be a good option. When selling with equity, you are using the proceeds from selling your home at a higher price than the amount you owe on your mortgage to pay off your remaining mortgage debt.”

Bottom Line

Your equity can be a game changer in reinvesting in your needs, pursuing your goals, and even helping you avoid foreclosure during difficult times. If you’re unsure how much equity you have in your home, connect with a local real estate professional so you can start planning your next move.







Note: this article is from Keeping Current Matters.



Aug. 9, 2023

Increased Listings

Increased Listings and Rising Prices Shaped Real Estate Landscape in June 2023

In June 2023, New Mexico home sales increased by 11.04% compared to the previous month. While still 11.59% behind June 2022 sales, the numbers reflect a 8.09% increase in the median sold price year over year. Compared to May 2023, New Mexico experienced a modest 2.31% increase in the median sold price. New Mexico Association of REALTORS® President Hubert Hill is entustiastic about the recent increase in active listings, “New Mexico REALTORS® have been eager for more housing inventory. With a 14% surge in available listings last month, we’ve been able to close more sales and lower the average number of days on the market.”

National Association of REALTORS® Chief Economist Lawrence Yun posits, “Low inflation means low mortgage rates. Therefore, decelerating consumer prices could steadily lift home sales and increase home production in a few months. CPI rose by 3% from one year ago, which is much lower than the 8–9% hikes of last summer and is the slowest gain in over 2 years. Falling gasoline prices and healthcare service costs were helpful. Rents are still climbing at a brisk pace, rising by 8.3%, but have turned the corner for sure. Rents were rising at 8.8% in the early part of the year, so this is the slowest gain in 7 months. The one-month rent gain of 0.5% (or a 5.8% annualized gain) is suggesting further calming in rents in upcoming months. Moreover, with so many empty apartment units under construction, rents could plateau by this time next year.”

During June 2023, NMAR received reports of 2,112 sales, accompanied by a median sales price of $334,000. The counties of Santa Fe, Los Alamos, and Taos observed the highest median sold prices for that month. Santa Fe recorded a median sold price of $532,933, Los Alamos reached $510,000, and Taos reported $494,950. Bernalillo County’s median sold was $352,625. The average days-on-market for June 2023 was 44, down six days from May 2023, and higher than the 36 days reported in June 2022.

Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to the NATIONAL ASSOCIATION OF REALTORS®.

Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLS, New Mexico MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only. Information does not necessarily represent all activity in any market/county. Figures based on reports run 05/17/2023. Visit (housing trends) for county statistics. The New Mexico Association of REALTORS® is one of the state’s largest trade associations, representing over 7,500 members involved in all aspects of the residential and commercial real estate market. New Mexico Association of REALTORS®

July 25, 2023

What is a Mortgage?

What's a Mortgage?

(Nearly 50% of people recently polled didn't know!)

Whatever line of work you’re in, there are probably some fairly common terms you’re used to hearing and saying that an outsider may not know. They may be so basic to you that you can’t even imagine how somebody wouldn’t know what it is, even if they aren’t in your field.

For instance, the word “mortgage” is something real estate agents presume everybody knows. Well, apparently only 49% of people actually know what a mortgage is, according to a recent survey conducted by One Poll!

The survey also found that:

  • 45% of the people surveyed said they plan on buying a home within the next three to five years.
  • Only 42% of those who were already homeowners used a mortgage to buy their home.
  • 55% of Millennials between the ages of 26-40 are far more likely to pay for a house outright with cash, than obtain a mortgage.
  • And nearly 20% of those surveyed weren’t sure how much of a down payment they’d need in order to buy a house.

So, if you’re not too sure what a mortgage is, or need a little more info to fill in some blanks, know that you’re not alone.

Simply knowing what a mortgage is could possibly make you a homeowner much more quickly and easily than you might have thought it was to buy a house! It appears that many would-be buyers have not bought a house because they didn’t have the money saved up, or weren’t aware that they could borrow the money they need to buy a house, rather than save up as much money as they needed to buy a house over time.

So let’s get into some basic definitions to get you on your way to buying a home…

What is a mortgage?

A mortgage is a type of loan used to finance the purchase of a house. It’s a legal agreement between a borrower (usually an individual or a couple) and a lender (typically a bank or a financial institution). The borrower receives funds from the lender to buy the property, and in return, the lender holds a lien on the property as collateral until the loan is fully repaid.

How long do you get to repay the loan?

A mortgage is typically broken up into monthly payments that you make over the course of 15 to 30 years. You can pay it off more quickly if you want to, though.

What is included in the monthly payment?

Each payment you make will include some amount that will go toward paying down how much you needed to borrow (the principal), and interest charged against that amount, and will often have the cost of your property taxes and homeowners insurance rolled into the payment as well. This is often referred to as “PITI” — principal, interest, taxes, insurance.

How much are the interest rates?

The interest rate you have to pay depends upon many factors. On a broad level, rates change due to economic conditions and go up and down over time. But whatever the current rates are in general, your own personal credit rating and history will affect how much the interest rate you are charged will be. How much interest you’re being charged could vary from one lender to another, so make sure to get a few offers to compare.

What is a down payment and how much do you need?

Borrowers are typically required to make a down payment. This upfront payment, usually a percentage of the property’s purchase price, reduces the loan amount and demonstrates the borrower’s commitment. Lenders like to see that you have some money tied up in the property because you’re less likely to default on the loan. The amount required varies. Years ago lenders required 20% of the purchase price as a down payment, but now you can find loans that only require as little as 3% or 5% down.

Are there any additional costs?

When obtaining a mortgage, borrowers typically incur various fees and charges, known as closing costs. These may include appraisal fees, attorney fees, title insurance, loan origination fees, and more.

What credit score do you need to qualify for one?

While the better your credit score is the better rate you’ll likely get, you don’t need a perfect credit score in order to qualify for a mortgage. In fact, there are loans available for credit scores as low as 580… although a 620 score is generally considered the standard minimum credit score you should have.

What’s the first step?

A basic understanding of mortgages is really all you need. You don’t need to become an expert, or pass a pop quiz on the above terms. Just contact a mortgage lender and ask them to “pre-approve” you for a mortgage.

They’ll want you to give them some basic information on how much you earn, what your current debts are, how much money you have saved up, and they’ll run your credit to see how that looks. But they’ll quickly be able to tell you how much they’d be willing to lend you to buy a house.

Pro tip: Ask a real estate agent you know and trust for the names and numbers of lenders they trust, because they always have a short list of great mortgage lenders and can recommend the very best fit for you, especially if you need a little more guidance on the process.

The Takeaway:

Mortgages make purchasing a home possible for many people, without having to save up every single penny it takes to buy a house. Yet nearly half of people recently surveyed did not know what a mortgage even was. This suggests that many would-be homeowners are waiting longer than they need to, and are trying to save enough money to buy a house outright, rather than get a mortgage which allows them to pay for a house in monthly installments over the course of 15 to 30 years.

There’s no need to become an expert on what mortgages are, though. Just find a reputable mortgage lender who will walk you through the process and get you on your way to the fun part… finding a home you want to buy!

July 17, 2023

Interest Rates drop

Interest Rates are Back into the 6's

As of July 14, 2023,  Bond prices rocketed higher this week in reaction to the lower inflation (CPI & PPI) numbers. This allowed average 30-yr mortgage rates (no points purchased) to move below 7% for the first time since mid-June. Make no mistake, homebuyer demand remains robust. It's just affordability (mortgage rates) and availability (supply of homes for sale) that have constrained sales.

from: Chris Maxwell, mortgage lender with Bank of Albuquerque

July 14, 2023

Home Maintenance

Home maintenance item for this week... Look and examine. Look at the trim around your garage door and your external doors. Also look at the eaves, canales/drain spouts, etc. Examine them for sun/water damage - is the paint pealing, is the wood cracking, etc. Make a list of supplies to correct these items - a scraper, paint, paint brush, calking, etc.


Congratulations! You just created your to do items for next week (may it be cooler weather!)

#audradodsonrealtor #kelloggagencysales