ALBUQUERQUE, N.M. (KRQE) – Is a nearly endless supply of tacos enough to convince you to buy a house? Well, that’s what one Albuquerque realtor is offering the future owner of one of his listings.
“Who doesn’t love free tacos?” said Michael Leathers.
Leathers is a realtor whose slogan is “Giant Realtor, Giant Results.”
“I’m all about fun,” he said.
He’s the listing agent on a Silver Street townhome and he’s offering up a tasty incentive to whoever buys it.
“It is absolutely just about exposure. We’ve gotten incredible reaction, we’ve gotten showings,” he said.
Leathers will give whoever buys the house $500 in tacos.
He said summer sales weren’t as high as he had hoped, so he’s getting more feet in the door at a hefty price.
“I would let them choose a restaurant that they like the tacos from,” said Leathers.
It’s a technique the Executive Vice President of the Greater Albuquerque Association of Realtors said they see often.
“People try a lot of different things and I kind of think that’s fun,” said Kent Cravens, the VP at GAAR.
He said whatever the realtors are doing, is working.
“We’re pleased at the speed at which homes are being sold, It’s nearly an all-time high.”
GAAR statistics show since last August, the median home price went up more than 6 percent, to $202,825. The number of homes sold, increasing by close to 7 percent.
“The $250,000 range, homes are selling very robustly,” said Cravens.
He said prices are going up because inventory is going down by a whopping 18 percent, stats show. It’s the result of a poor economy.
“Building permits are being led at about half the rate they really need to be in order to facilitate larger projects,” said Cravens.
He said this is concerning and causes issues for some buyers.
“For an average family, every day that goes by, it’s going to lessen their affordability of homes,” said Cravens.
He said they are counting on economic growth to bring the number of homes for sale back up.