In a recent post by the Bernalillo County Assessor stated that due to the current situation with the COVID19 property tax notice of value statements will not go out to property owners until April 29th, 2020 a month later than the normal date of April 1st. The reason this is important is because this is also the time that property owners are able to protest their current property values. Current law allows a cap of 3% each year for an increase in your property taxes but Bernalillo County allows property owners to file a protest if they fill that their value is not what the county NOV (notice of Value) has sent out. The process of protesting your property taxes and filing for other exemptions is fairly easy all your need is your local real estate professional Waylon Chavez with ABQ Premiere Properties. There he can access the multiple listing service and provide you with a current market analysis and the required forms needed to protest to the county. The only catch is that Bernalillo County only gives property owners 29 days to file a protest. That is a very short window to do so. The reason someone might want to protest their property taxes are there is slow growth in the area meaning the real estate market is not up to pace with other areas, you can claim more exemptions that could potentially save you money yearly on your house payment. The average savings for doing this is about $100 a month $1,200 yearly. 

If you feel your property taxes are not correct or you would like Waylon to assist you in filing for other property tax exemptions please reach out to Waylon directly 505-302-2221 or via email WaylonChavezCRS@gmail.com.

Bernalillo County Assessor Statement 

In a great article that came out today by Keeping Current Matters provides details on the economic impact on the economy in each state from each house purchase. In New Mexico that number is $67,000. The way that is determined is how many people and services are involved when you decide to purchase a home. During the real estate transaction you may not think of it this way but you are employing others in the process such as Realtors®, Mortgage lenders, Title companies, escrow officers, home inspectors, termite inspectors, roofers, handymen, cleaning companies, home stagers, landscapers etc. Not to mention once the home is purchases and you want to put your personal touch on a home and maybe re-paint, put new flooring, lighting, make a room bigger, expand in some way that is all contributing to our local economy which strengthens it. One other thing to consider when purchasing a home and all the people you employ during the transaction is when you use a local company like ABQ Premiere Properties to handle your real estate needs when we finalize the transaction and get paid for our services our money goes right back in to the local New Mexico Economy not paid out to a big real estate franchise in Texas, Colorado or any other state, it goes right back into our local economy to help our community. 

One last thing to consider when purchasing a home is the benefits it will have for your finances and wealth in the future. On average real estate goes up in value 3-5% each year in normal markets which means over the course or 30 years your value goes up and your balance goes down which creates wealth for you and your family. 
As you can see in the chart below the cost of renting over the years. 
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After speaking with three renters today that are looking to purchase I added up the money they spent. One lady told me she paid $950 a month for 5 years, that is a total of $57,000 that she will ever see or get a return on.
If you are renting now I would encourage you to take your monthly rent multiply that by 12 then multiply that number by how many years you have been renting and post a gif or emoji in the comments that shows how you feel after seeing your number.
Interest rates are at the lowest point right now than they ave been in years so if you want your money to go towards something you will see a return on let's talk and let me educate you on the home buying benefits and process and see if it is right for you.

To start investing in yourself and your future contact Waylon Chavez with ABQ Premiere Properties. 

Waylon Chavez
ABQ Premiere Properties
505-712-1340

Ego & Pride kill most dreams. And why 92% of New Years Resolutions Fail.

I am very excited to launch and announce the new ABQ Westside Facebook group and podcast. As a strong community advocate and supporter of local businesses is the reason of the launch of this great community forums. 

The mission an goal is to highlight the great things happening on ABQ's Westside to support the residents and companies that live, work & play on Albuquerque's Westside. 

Tune into the launch of our Podcast and join our exclusive facebook community here and subscribe to our podcast here

Here is a little behind the scenes look and my final thoughts on completing my first 10K at the Duke City Marathon. Please let me know what you think, comment and share.