http://www.WelcomeHomeABQ.comAlbuquerque Realtors Add New Interactive MLS Report Tool to Website.In today's intensely competitive Albuquerque Real Estate Market, Albuquerque Realtors are providing a powerful new tool for home owners.  For many people, their home represents a large portion of their net worth.  Homeowners want to know... What did the home down the street sell for? How long did it take to sell? What homes are for sale in my neighborhood? And most importunately, what's my home worth?  A new technology provides this for any who ask.  And it's free!Albuquerque Realtors, Tracy and Tego Venturi have added "Market Snapshot" to their Albuquerque Real Estate Website.  Market Snapshot is a graphical on-line report using web2.0 technology that provides valuable and timely data from ... 05/06/2008

NOW is the best time to be buying -- pretty much anywhere in the country, especially investment in YOUR future. For buyers nationwide, the inventory is extensive and "bargain priced" based on what we have been hearing from our associates all over.  Absorption rates continue to RISE while prices generally are declining somewhat. Couple this with a continuing LOW interest rate of about 6% and you have an excellent opportunity to get instant equity. This is especially true in Albuquerque, Rio Rancho, Valencia County (Los Lunas and Belen), Corrales, Placitas, the East Mountain area (Sandia Park and Tijeras, especially) and other areas nearby. Sellers are happy campers, TOO, as long as the property they are selling is priced right. What we are telling our sellers is to price BELOW the market... 05/04/2008

From: http://www.welcomehomeabq.com/ These statistics are averages for all Residential Detached Homes Sales. This report includes the Albuquerque Real Estate Market areas of; Northwest Heights (110), Ladera Heights (111), Paradise West (120), and Paradise East (121). View the Albuquerque MLS Areas map for more location information. Number of Homes SoldListing PriceHome SqFt.Listing $ Per SqFt.Days On MarketSelling PriceSelling $ Per SqFt.(119)$212,1801865$115106$206,608$112 For a detailed neighborhood market report visit www.Albuquerque-Home-Prices.com. 05/02/2008

From: http://www.WelcomeHomeABQ.com/These statistics are averages for all Residential Detached Homes Sales. This report includes the Albuquerque Real Estate Market areas of; Near South Valley (90), Valley Farms (91), Southwest Heights (92), and Pajarito (93). View the Albuquerque MLS Areas map for more location information. Number of Homes SoldListing PriceHome SqFt.Listing $ Per SqFt.Days On MarketSelling PriceSelling $ Per SqFt.(81)$144,3871498$9877$141,513$96 For a detailed neighborhood market report visit www.Albuquerque-Home-Prices.com. 05/02/2008

From: http://www.WelcomeHomeABQ.com/These statistics are averages for all Residential Detached Homes Sales. This report includes the Albuquerque Real Estate Market areas of; Four Hills (60), and Southeast Heights (71). View the Albuquerque MLS Areas map for more location information. Number of Homes SoldListing PriceHome SqFt.Listing $ Per SqFt.Days On MarketSelling PriceSelling $ Per SqFt.(16) $244,0921878$12982/103 $239,541$127 For a detailed neighborhood market report visit www.Albuquerque-Home-Prices.com. 05/02/2008

From: http://www.WelcomeHomeABQ.com/These statistics are averages for all Residential Detached Homes Sales. This report includes the Albuquerque Real Estate Market areas of; UNM (40), UNM South (42), and Downtown (80). View the Albuquerque MLS Areas map for more location information. Number of Homes SoldListing PriceHome SqFt.Listing $ Per SqFt.Days On MarketSelling PriceSelling $ Per SqFt.29) $236,2971537$14874/103 $220,212$138 For a detailed neighborhood market report visit www.Albuquerque-Home-Prices.com. 05/02/2008

These statistics are averages for all Residential Detached Homes Sales. This report includes the Albuquerque Real Estate Market areas of; Sandia Heights (10), North Albuquerque Acres (20), Albuquerque Acres West (21), Far Northeast Heights (30), Foothills North (31), and Academy West (32). View the Albuquerque MLS Areas map for more location information. Number of Homes SoldListing PriceHome SqFt.Listing $ Per SqFt.Days On MarketSelling PriceSelling $ Per SqFt.(72) $385,2502256$16353/91 $371,072$157 For a detailed neighborhood market report visit www.Albuquerque-Home-Prices.com. 05/02/2008

From: http://www.WelcomeHomeABQ.com/These statistics are averages for all Residential Detached Homes Sales. This report includes the Albuquerque Real Estate Market areas of; Uptown (41), Northeast Heights (50), Foothills South (51), and Fairgrounds (70). View the Albuquerque MLS Areas map. Number of Homes SoldListing PriceHome SqFt.Listing $ Per SqFt.Days On MarketSelling PriceSelling $ Per SqFt.(98) $200,8301648$12456/83 $194,649$120 For a detailed neighborhood market report visit www.Albuquerque-Home-Prices.com. 05/02/2008

A report just released from the New Mexico Mortgage Finance Authority reports the following: Purchase Housing Markets New Mexico Markets Are Localized Residential real estate sales activity appears to have slowed in most New Mexico markets, but it should not be characterized as stagnant or stalled. What is more, prices in many markets have increased over last year despite the abundant supply in some areas. A word of caution: not unlike most analyses of New Mexico, real estate market analyses confirm that markets are very different throughout the state and it is difficult to draw statewide conclusions. The market "snapshots" on the next page demonstrate market distinctions throughout the state. As the table illustrates, most markets in New Mexico experienced a slow down in sales, and yet... 04/30/2008

The real estate market in Albuquerque, NM has held up pretty well during the first quarter of 2008. As the chart below makes evident, the average sales prices for Albuquerque single family detached homes was essentially the same as the average in the first quarter of 2007, and still substantially above the figure for first quarter 2006. (Data is from Southwest MLS) But the news is not all good. Yes, our homes are still selling at good prices, but they are taking longer to sell, and fewer homes are actually closing. Take a look at the graphs below, that show first quarter comparisons for number of sales and time on the market, for the first quarters of 2006 through 2008:     It's clear at a glance that the number of homes actually closing during the first quarters in Albuquerque has bee... 04/26/2008

If you're a seller in today's real estate market, it sure helps if your home is located in one of the "quick sale" areas of town. Even in Albuquerque, NM, which has one of the better real estate markets in the country right now, homes sales have slowed since the peak times of 2005 and 2006. But, of course, it all comes down to the old story of "location, location, location..." and some areas are just hotter than others! So, how did Albuquerque areas stack up for numbers of homes sold during the past quarter? A glance at the chart below gives a good snapshot: It's easy to see that the Southwest Heights was the big winner with 145 sales during the quarter, for an average price of $143,371. The Northeast Heights was the second best-selling location, with 128 sales closed during the period... 04/15/2008

Are Short Sale Really Worth it? I have been investigating the subject of Short Sale for the past six month.  I have gathered a quite a bit of information from books, blogs, and agents who have done these types of transactions.  One would expect that at this point in time I would be close to making a decision, and you would be wrong.  I find myself intrigued by Short Sales, but is reluctant because of the abundance of frustrations which seem to emanate in this niche.  It almost seems like a relief when an agent completes a short sale.  To add to the matter, some banks refuse to pay the full realtor's commission.  Please someone, tell me the up-side? 04/12/2008

Now is The Time... To Invest In Your Child's Future The FHA Lending Limit is currently $271,050 in the Albuquerque Metro. For less than $200,000, you could invest in Residential Real Estate for your Child's Future. If you have kids heading to college in the next 2 years, why not buy the house or condo and know your child is safe & you are controlling the property?  Jimmy or Susie can also get a roommate or roommates to offset the mortgage payment, and in 5 years, you can either turn the property over to your now graduated adult child, or they can sell it for the equity it has acquired (currently 6% appreciation on average, more in the UNM/NobHill/Ridgecrest/Downtown areas), or continue to use it as a rental property, providing monthly cash flow & income for your family.  Example: purcha... 04/11/2008

Albuquerque, NM is a great city to live and work in, and also a great place to visit. It's also a great place for real estate investment in this time of radically depreciating values in so many real estate markets nationwide.First, I'd like to introduce you to some reasons why Albuquerque is a great place to visit.This is truly a multi-cultural area, with large Hispanic, Native American and Anglo populations. Where else can you see Pueblo Indian dances, locate great turquoise jewelry, Navajo rugs, handmade pottery and basketry, and Hopi Kachinas, visit churches and haciendas that date back to the early 1700's, and enjoy authentic New Mexican food? Take a virtual tour of the Indian Pueblo Cultural Center, the Albuquerque Museum of Art and History, or Albuquerque's Old Town and see whethe... 04/10/2008

Are Open Houses A Thing Of The Past? Last week I heard a prominent Albuquerque Realtor on the radio, saying that her team does not do Open Houses anymore, because they believe it was a thing of the past.  She cited a NAR study which stated that approximately 80 percent of homebuyers surf the internet to look for homes.  She also had a few other reasons to justify her position.     Now whereas the NAR study might be correct, I do not believe that there is a one to one correlation between the two; so I am in total disagreement with her.  In my experience, I find that Open Houses are great for business.  Having said that, I concede that I might just be out of touch with reality; I have only been in the business for 2 years, so it's hard question the position of the movers and shakers of ou... 04/05/2008

Effective for all registrations after Friday, April 4th, another lender is eliminating the Agency Shortcut Mortgage program.All Agency Shortcut mortgages must be registered no later than Friday, April 4th. We will not accept any registrations on the Shortcut program after this date. There is no lock cut off date as of yet, however all Agency Shortcut Mortgages must close and fund no later than April 30th. No relocks or extensions will be granted.As an alternative to the Shortcut, I've included a couple of options to consider:1) Agency "Limited Doc" -Best pricing: Borrower's who have at least a 680 middle credit score, may receive a "verbal VOE (verification of employment) only" or "evidence of existence of business only" option when running DU (desktop underwriter) or LP (loan prospecto... 04/04/2008

I have yet to get a plausible explanation for what's really going on in the Albuquerque Real Estate Market.  For those of us who pay close attention to trends, let's take a brief walk down the Albuquerque market.  I will make a few observations, then share my opinion. My primary objective is to get some dialogue going on this subject  Observation 1: January to August 2006...High demand, limited supply and prices going through the roof.  Recall, the average daily inventory was about 3000 in the MLS, while the average days on the market was 30 to 45 days. There were so many examples of multiple offers situations...life was great for many agents.Observation 2: Fall 2006 to present...Demand pregressively trends down, price has dropped a little or remained relatively unchanged.  Supply is ab... 04/01/2008

FHA Product Updates         Effective for all FHA loans registered and/or locked after today, Friday, March 28, minimum FICO scores will apply in all instances regardless of AUS (Automated Underwriting System) decision. Extensions will not be granted.          See the chart below for minimum FICO score requirements for all AUS FHA loans*.   Transaction Type  Minimum FICO  Purchase & R/T Refinance  580  Cash-out Refinance LTV < 85%  580 Cash-out Refinance LTV > 85%  600 Streamline Refinance    580 * 03/28/2008

ALL LOANS THAT WILL BE AFFECTED BY THESE CHANGES MUST BE LOCKED IN NO LATER THAN FRIDAY, MARCH 21, 2008. NO EXTENSIONS OR RELOCKS WILL BE GRANTED  IMPORTANT INFORMATION REGARDING UPCOMING AGENCY UPDATES - Elimination of LTVs 97.01-100%, Revised Minimum Credit Score Requirements and Cash-Out Refinance Eligibility for Transactions Requiring Mortgage InsuranceDue to continued mortgage insurance (MI) company product eligibility pull backs, we must implement the changes outlined below for our conventional Agency loan programs. These changes will be effective for locks on or after Friday, March 21, 2008. All loans that are locked PRIOR to March 21, 2008 will be honored; however, must be closed and funded by their original lock expiration dates. Please review your pipeline carefully to confirm... 03/17/2008

Updates- Important!.ELIMINATION OF THE FREDDIE MAC 100 LOAN PROGRAM  Effective for Locks on or after Monday, March 17, 2008In response to the continued deterioration of credit quality and declining home values in most areas of the country, Freddie Mac is eliminating the higher risk Freddie Mac 100 loan program. As a result of this change, effective for locks on or after Monday, March 17, 2008, the Freddie Mac 100 loan program is being eliminated. All loans that are locked PRIOR to March 17, 2008 will be honored; however, these loans must be closed and funded by May 15, 2008. Lock-in extensions and re-locks will NOT be granted. PLEASE NOTE  THE FNMA FLEX 100% & MY COMMUNITY PROGRAMS ARE STILL AVAILABLEIMPORTANT INFORMATION REGARDING UPCOMING AGENCY UPDATES  Revised Minimum Credit Score R... 03/10/2008