SEARCH THE MLS IN CLOVIS, NM

Monday, June 23, 2014

Q&A Concerning Prices in Clovis

I received this question today and thought it would be a great topic for a Blog discussion:


Q: "Hi I'm moving back to Clovis and was wondering why is everything so expensive to buy and rent....I don't remember it being that high? Also I know you are a realtor and a landlord but I cannot find a good website for Clovis apartments?? Do you know any? I think I'm gonna have to call all of them individually to see about their prices. Thanks!"

A: Thank you for your great questions! The price of homes /rental rates are all driven by supply and demand and a buyer/tenant's willingness/ ability to pay for those rates. But let's dig a little deeper...

Why So Expensive?
Why are homes so expensive to buy in Clovis, NM? Expensive is a relative word. Expensive compared to what? Every city has a local market that can vary from the national real estate market stats. And absolutely no two markets can be compared to each other. A local market has its own economic factors that drive prices up or down. Simply put there is not one entity, one person, or one reason behind why prices feel high or low at any given point in time. All the moving parts of supply and demand work in conjunction to create a variety of market condition outcomes. 

To be clear, over the last 12 months, the average sales price in Clovis, NM has in fact fallen from $158,775 (2012-2013 yr over yr) to $155,278 2013-2014 year over year. So the average price paid for a home, technically, has dropped. 

But, you are on to something. There are conflicting signs in the market right now that don't add up. There is a higher demand for owners who want to sell vs buyers who want to buy. This combination should be driving prices down quicker that we are experiencing in order to unload inventory. There are 397 homes for sale in Clovis, NM alone today. Only 32 homes sold in the last 30 days. The 30 year fixed rate mortgage is still averaging 4.33% today. Buyers in Clovis, NM may want to take advantage of the 2 factors working in their favor -record low rates and record high options.

The high demand for a place to live (rent) paired with the low supply of options, drives the price of rentals up*Facilities that offer rentals to the masses, are just not common in the area. Buyers will find they have a lot more options to buy today than if they look to rent. The rental market goes quick, and the "good rentals" go even quicker.  As a result, some tenants seeking rentals turn into buyers seeking to purchaseThus "for sale" prices could be attributed to being "propped up" by this pool of renters turned buyers. The sales market is going to have to find a way to balance it self out, and my prediction is the local market may begin to see a shift towards short sales and/or a mass movement of home owners seeking property managers. Just as a monsoon will end a draught, natural forces will bring this out of balance market back into balance one way or another. So the pros and cons of today's market may not be the same next year or even next week. 

And finally, concerning finding rentals. 
It is a hassle, but you will need to contact each property manager individually. As property managers, we only have access and information to the homes we personally manage. The Property Shop 101, LLC does post a compiled list of rentals in the local areas from a variety of companies. Check our blog and our Facebook every few weeks and that should save you some time and energy searching the net.

Please feel free to use me as a resource and to ask further questions. I am happy to help! 




*Apartment Complex options: 



Friday, March 14, 2014

This Month in Real Estate March 2014

Are you still weighing your options to purchase? Now is still a great time in the Clovis, NM / Cannon AFB / Portales, NM area!!! HERE'S WHY---->


Number of Homes listed in Clovis, NM: 324 (469 for all of the Clovis / Portales, NM Area)
Number of Homes that SOLD in the last 30 days: 27  (32 for all of the Clovis / Portales, NM area)

Months of Inventory (Rate of Turnover): 12 months = BUYERS MARKET
*If no more homes were listed starting today, it would take 12 months to sell off all the inventory we currently have, assuming the rate of sale does not change. 

Median Home Price: $160,250 
*Median home price for single family home based on the last 6 months of sales in Clovis, NM.

National Average for 30 Year Fixed Rate Mortgage: 4.33% = BUYERS MARKET


If you'd like more details on our local market or would like a free consultation on whether or not its the right time to buy for you, 
please contact Lauren at 575-742-8009 or email: lauren.nehls@kw.com



Friday, March 7, 2014

Total Home Makeover!


This AMAZING property, conveniently located near Cannon AFB, just underwent the knife and got an interior makeover for its anticipated listing date. The BEFORE and AFTER photos are pretty great! Cliff Roberts (575-776-4598) and his team at West Woods, Inc get all the credit for this fabulous remodel! They did everything from replacing the faulty polybutelene plumbing to installing beautiful new flooring to upgrading the bathrooms. Call Lauren today to set up a showing. You'll want to own it once you see it! 575-742-8009

BEFORE:














ANNNNNNND AFTER:  3216 Cheyenne





Tuesday, February 18, 2014

THIS Home & More For Sale in Clovis, NM!



If you'd like to view more homes on the market today in the Clovis, NM area click here. 

Have questions about buying a home or would like to set up a consultation to discuss the process?
Contact me @: lauren.nehls@kw.com OR give me a call at 575-742-8009. 

*I'm happy to match the USAA Movers Advantage Program! -contact me for details. 

Thursday, February 13, 2014

Varieties of Apocalyptic Scenarios in Clovis, NM

Today's variety topic is Tumble-ocalypse
Disaster Date: January 27, 2014
*Warning: These are real photos of real people and homes in Clovis, NM. 









...And for THE GRAND FINALE, please watch the CBS News reporting below:


Stay tuned for future varieties such as "Moth-pocalypse", "Fly-pocalypse" and "Haboob-ocalpyse".





FEBRUARY 2014: This Month in Real Estate

The real estate market is a living breathing entity that has to be evaluated, interpreted and "kept a close eye on" daily. That's why I love posting these monthly updates in an effort to help educate the public more frequently and help take out the guess work. This video contains some great pieces of information pertaining to the current national real estate market conditions. Keep in mind this is a national average, and reports on a macro level. Locally, we don't always reflect the same statistics. Therefore, I always like to provide some local, micro level, pieces of information to keep things in perspective. Watch this video then read below to see how the two connect.





CLOVIS, NM/ PORTALES, NM/ CANNON AFB, NM AREAS:

Homes on the Market: 447

Number of homes Sold in the last 30 days: 33


Are we in a Buyers Market or a Sellers Market today (February 2014)? Buyers Market, meaning there is more inventory (homes for sale) than there are buyers at this moment in time. 


***John Furber's tip to sellers about "the secret to getting your home sold faster", has proved itself to be true in our market time and time again. Keep in mind, that a seller's goal when listing their home is to be one of those 33 homes next month not one of the 447 still sitting on the market.


For a free consultation and/or up to date information about the local Clovis, NM / Portales, NM / Cannon AFB area, feel free to email me at lauren.nehls@kw.com. 

Wednesday, February 12, 2014

Don't Know What to Give Your Valentine This Year?

Nothing says I love you like a new lease on a rental home!

Below you'll find an extensive list of properties in the Portales, NM area. 
The homes that will consider PETS are marked with an *.

Always check our management inventory list at THE PROPERTY SHOP 101, LLC  -OR- feel free to contact our Manager, Kayla Thomas, at 575-742-8686 and thepropertyshop101@gmail.com for guidance and expertise on the local rental market.        


1 Bedroom



Address
 Rent
Contract

1023 W 15th #A
$575.00
RE: 575-356-0400

1015 ½ E Amazon
$300.00
PMP: 575-356-6607

1515 W 18th #7
$390.00
PMP: 575-356-6607

1515 W 18th #6
$390.00
PMP: 575-356-6607

1515 W 18th #3
$390.00
PMP: 575-356-6607

814 E 2nd
$400.00
505: 575-762-5611

2 Bedroom



Address
 Rent
Contract

712 W 16th St
$945.00
RE: 575-356-0400

217 Oklahoma
$1,000.00
HS: 575-356-5639

908 S Main
$650.00
HS: 575-356-5639

2206 S RR 5 ½
$550.00
HS: 575-356-5639

510 W 15th, Unit A
$695.00
HS: 575-356-5639

1516 N Austin
$795.00
HS: 575-356-5639

1521 Arizona A
$800.00
PMP: 575-356-6607

1001 E Amazon
$650.00
PMP: 575-356-6607

508 N Ave K
$475.00
PMP: 575-356-6607

1824 S Globe B
$775.00
PMP: 575-356-6607

908 S Main
$550.00
PMP: 575-356-6607

2275 S RR 9
$675.00
PMP: 575-356-6607

1410 N Ave O
$850.00
PMP: 575-356-6607
Avail. 2/5
913 S Ave A
$775.00
PMP: 575-356-6607
Avail. 2/5
519 E 9th #2
$675.00
PMP: 575-356-6607
Avail. 2/5
708 S Ave A
$650.00
PMP: 575-356-6607
Avail. 2/10
408 N Ave K
$600.00
PMP: 575-356-6607
Avail. 2/17
516 S Abilene #1
$675.00
WR: 575-762-1574

522 S Abilene #2
$675.00
WR: 575-762-1574

522 S Abilene #3
$675.00
WR: 575-762-1574

904 S Dallas #3
$675.00
WR: 575-762-1574

904 S Dallas #4
$675.00
WR: 575-762-1574

420 E 9th #4
$675.00
WR: 575-762-1574





3 Bedroom



Address
 Rent
Contract

241 Oklahoma
$1,050.00
RE: 575-356-0400

1708  Fir
$945.00
RE: 575-356-0400

713 S Chicago
$875.00
HS: 575-356-5639

500 Kilgore
$975.00
HS: 575-356-5639

1725 South Abilene, Unit A
$895.00
HS: 575-356-5639

421 S Ave B
$750.00
HS: 575-356-5639

1208 N Ave K
$775.00
HS: 575-356-5639

125 S Globe
$895.00
HS: 575-356-5639

3717 Cesar Chavez
$890.00
HS: 575-356-5639

2216 S RR 5 1/2, Unit B
$795.00
HS: 575-356-5639

2204 Beech
$1,650.00
HS: 575-356-5639

1416 N Austin
$825.00
HS: 575-356-5639

637 Bigler Buck Dr. C
$1,600.00
PMP: 575-356-6607

1101 W University
$925.00
PMP: 575-356-6607

1636 E Brazos
$1,250.00
PMP: 575-356-6607

524 W 17th St
$925.00
PMP: 575-356-6607

119 New Mexico
$925.00
PMP: 575-356-6607

1868 S RR 12
$900.00
PMP: 575-356-6607

213 W 14th
$1,200.00
PMP: 575-356-6607

917 E 3rd
$1,100.00
PMP: 575-356-6607

708 S Dallas
$875.00
PMP: 575-356-6607

1890 S RR 3
$1,200.00
PMP: 575-356-6607

505 N Kilgore
$650.00
PMP: 575-356-6607
Avail. 2/10




4 Bedroom



Address
 Rent
Contract

724 N Ave N
$850.00
PMP: 575-356-6607

1795 Moreland Road
$1,195.00
HS: 575-356-5639

2210 E 12th
$1,095.00
HS: 575-356-5639
Avail. 2/7






Note: These are rentals compiled by Lauren Nehls @ Keller Williams Realty/ The Property Shop 101, LLC from Property Management (PM) companies in the local Portales & Clovis, NM area. Please contact the PM directly with specific questions.  As you search for your next rental be aware of the New Mexico Landlord/Tenant Rights.

CAN’T FIND WHAT YOU’RE LOOKING FOR? or Do you have more questions about the local REAL ESTATE MARKET IN CLOVIS, NM? 
visit: WWW.cannonAFBproperties.COM to read more or feel free to contact me directly.