While students and teachers are learning and adapting to the online learning platforms, the school boards are meeting to decide if the students will be able to go back to campus after Labor Day. 

Today, the Albuquerque Public Schools announced they will continue remote learning through the end of the semester.  

Here's the link to the article on APS - https://www.abqjournal.com/1488243/aps-to-continue-remote-learning-through-december.html

To my knowledge, Rio Rancho Public Schools have not published any changes to their School Reentry plans.  

Get the latest from Rio Rancho Public Schools here - https://www.rrps.net/schoolreentryupdates

Have you Heard!

There is so much happening in Rio Rancho right now!

1) Natural Grocers are about to Open their doors for shoppers in Rio Rancho.  Grand Opening is August 27, 2020!

2) Murphy's Fuel Express is being built right by CVS Pharmacy - corner of Hwy 528 and Southern

3) the old self-serve car wash will be turned into a Dunkin Donuts

4) the new Joe Harris Elementary will be welcoming students when they can return to campus.  This is the newest elementary in the Rio Rancho Public School System.

5) the old Rio Rancho Inn may get New Life as an apartment complex. 

6) New businesses continue to open in our community despite Covid-19.  Have you checked out RagingBad?  A great way to work out your frustrations! 

Also did you hear you can now Rent-a-Goat from Galloping Goat Ranch?  Why pull weeds when you can have a Goat do it for you.

Be sure to check out the New Performing Arts School - Avix Art.  They offer classes in Dance, Music, Drama and Production.

Oh, the Roller Coaster Ride know as Mortgage Financing.  If you are looking to Re-Finance your current mortgage, be sure to talk to your lender before starting the process.  Fannie and Freddie just instituted a 50-basis point price change.  This could change your mind about refinancing.

For those looking to purchase, interest rates are still low, but we are seeing them start to trend higher.  Talk with multiple lenders to see what each one can offer.   

The Albuquerque/ Rio Rancho area market is continuing to see a decrease in available properties on the market.  It continues to be a “sellers” market due to low inventory, but many are predicting a large market shift in the near future, causing those to be concerned about a housing market crash.  If you are looking to sell, now is the time.

This past week we saw 515 New Listings, 511 New Pending-under contract, with only 1514 Total Properties for Sale in the Albuquerque MLS.  The total number of properties available continues to decline.

Buyers need to be pre-qualified by a lender and ready to make an offer as soon as a property comes to market.  Most properties are receiving multiple offers, so be sure to talk with your agent on how to make your offer stand out.

Market Moment Blog -- Aug 10, 2020

Initial jobless claims fell more than expected last week to the lowest since the pandemic started.  The broad decline across nearly all states suggests labor market improvement.  Additionally, the ISM Manufacturing Index increased to 54.2 in July, indicating manufacturing expansion for the 3rd consecutive month.  This contributes to the decrease in jobless claims. 

Interest rates continue at an all-time low with 30-yr Conventional at 2.875%!  Home prices continue to creep higher with approx. 1% increase in June.

Construction spending declined slightly, but overall is higher than this time last year.

As for our local market (greater Albuquerque area), this past week saw 536 New Listings, 507 New Pending contacts with a total of only 1556 properties listed in the Albuquerque MLS.  As you may recall, this is lower that July's average of 1600 properties being listed. 

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