Albuquerque, NM Real Estate News

By Tony Olmi, Qualifying Broker, SRES, EMS
(La Entrada Realty)
 La Entrada RealtyGateway to Paa-ko Real Estate and the magnificent Southwest! PAA-KO Only 25 minutes from Uptown shopping, 45 minutes from Downtown Albuquerque and 40 minutes to Santa Fe, this gorgeous East Mountain community is ideal if you enjoy country style living. Many residents work in Albuquerque and escape in the evenings to the aroma of pinion, sage and the cool mountain air of Paa-koo real estate. Paa-ko is also home to one of New Mexico's most beautiful golf courses with the mountains as its canvas.Paa-ko real estate is nestled on the east side of the Sandia Mountains just north of Cedar Crest and Sandia Park. The vibrant colors of the New Mexico sunset are the perfect contrast to the large pinions and desert sage making up this serene community. Get swept away in area 220 i...
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By Tony Olmi, Qualifying Broker, SRES, EMS
(La Entrada Realty)
  La Entrada RealtyGateway to Sandia Heights Real Estate and the magnificent Southwest!Sandia Heights  Sandia Heights boasts and hosts the base of the world's longest aerial Tramway. Sandia Heights real estate was developed in the 1960s and was the first development to introduce the truly exotic and exclusive living 2000 feet above Albuquerque's Rio Grande valley, and Old Town Albuquerque, which sits at about 5200 feet above sea level. Architectural design of most homes built on Sandia Heights' premium real estate usually takes advantage of seventy miles of westerly views and the immediate 3000 ft rise of the Sandia Mountains and the top of the Tram from their eastern facing windows and decks. Sandia Heights real estate typically holds its values and actually leads in appreciation and d...
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By MELINDA POTCHER
(DIVINE MORTGAGE, LLC)
The real estate adage is location, location, location. If you're looking for a job, you want to be in a state that has an unemployment rate lower than the national average, which is 5% according to teh most recent data from the Bureau of Labor Statistics (BLS).Here are the 15 best states to find work ranked by their unemployment rates.NEW MEXICO IS RATED #111. South DakotaUnemployment rate: 3 percent*Population: 796,214**Mean annual wage: $30,460Top industry: Trade, transportation and utilities (19.9 percent)***2. IdahoUnemployment rate: 3 percentPopulation: 1,499,402Mean annual wage: $34,810Top industry: Trade, transportation and utilities (20.2 percent)3. WyomingUnemployment rate: 3.1 percentPopulation: 522,830Mean annual wage: $34,290Top industry: Government (23 percent)4. NebraskaUn...
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By Congress Realty Reviews, Congress Realty New Mexico MLS $299 flat fee
(Congress Realty)
For experienced real estate investors, the 1031 exchange is a familiar term and involves deferring one's taxes on the sale of a property by acquiring another property with the proceeds.  For $299 flat fee listing customers interested in a 1031 exchange, you might want to sign up for the weekly Haves & Wants list with the New Mexico Council of Exchangors.  This lists a number of properties out there available for purchase as well as what people want.  This list tends to focus on commercial properties and leased residential properties.  Lists like these are no where near as powerful as the MLS, but can provide you with indication of what is going on with 1031 exchanges.As a reminder, Congress Realty lists all types of properties: residential, industrial, apartments, office condos, mobile ...
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By MELINDA POTCHER
(DIVINE MORTGAGE, LLC)
Albuquerque, New Mexico is Housing Predictor's selection for the #1 spot on the Top 10 List. Albuquerque is growing like never before, attracting the movie business from Hollywood, a new airplane factory and many other new businesses, like Schott (Solar Power) and Fidelity Investments. The median price for a home in Albuquerque is $194,000. The 2007 appreciation for homes in Albuquerque was 9.1%.The selection is based on surveys conducted on 75 market conditions, sales velocity, pricing and 20 other factors.Five Texas markets are included on the list, including McAllen, which placed 2nd. In early 2006 Housing Predictor forecasted the current boom in Texas.Salt Lake City Utah placed third.for more information on the Hottest 10 Buyers Markets, go to http://www.housingpredictor.com/hottest...
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By Wayne Pehrson, Realtor, Albuquerque NM
(Sandia Peak Realty)
Albuquerque Tops Real Estate Market Forcast List Albuquerque's housing market retains its number one spot with a projected 9.1 percent in appreciation for the year on HousingPredictor.com's 2008 prediction list of the Top 25 Real Estate Markets. The website annually ranks housing markets and provides "independent real estate market forecasts for local housing markets in all 50 U.S. states," conducted by a team of journalists, researchers, analysts and economists."Driven by strong local economies the Top 25 housing markets with the highest forecast appreciation are further proof that all real estate is local in nature, and that despite news reports that the entire nation's housing markets are depreciating, many states have housing markets that are appreciating strongly," notes the websit...
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By Laura Warden Nordin, 30-year Top Producer in Greater ABQ Real Estate
(Century 21 Camco Realty)
Popejoy Hall, on the University of New Mexico campus, is one of the cultural highlights of Albuquerque. Popejoy is the grandest multi-use theater in NM, and serves as the home of the New Mexico Symphony Orchestra and the Ovation Series at Popejoy Hall. The Popejoy season always includes a variety of performances, including performances by local organizations as well as Broadway touring companies. Music, dance, and theatre all have their place on the Popejoy stage. Some upcoming highlights include the ballet Giselle, performed by the St. Petersburg ballet on Feb. 8, 2008Shakespeare's The Tempest on Feb. 22, 20008Cat on a Hot Tin Roof, by Tennessee Williams, on Feb. 26, 2008The musical Peter Pan on March 7, 2008The Duke Ellington Orchestra on March 20, 2008The New Mexico Symphony Orchestr...
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By Laura Warden Nordin, 30-year Top Producer in Greater ABQ Real Estate
(Century 21 Camco Realty)
An all-green community is currently being built in Albuquerque, NM. La Cuentista, a custom home development is designed to exist in harmony with the environment, and may well be Albuquerque's first "all green" community.A recent article in the Albuquerque Journal featured this new home development on Albuquerque's West Side, in which seven custom home builders have pledged to abide by the minimum requirements to be certified by Build Green New Mexico. The guidelines are based on those established by the National Association of Homes Builders, and tailored to suit the New Mexico climate and environment, and deal with seven categories of features:Lot preparation and designResource efficiencyHomeowner educationGlobal impactWater efficiency and conservationIndoor environmental qualityEnerg...
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By Congress Realty Reviews, Congress Realty New Mexico MLS $299 flat fee
(Congress Realty)
Many For Sale By Owner homeowners grow frustrated with the marketing and selling of their homes.  After all, they do not have the most powerful marketing exposure available to them: the Multiple Listing Service or MLS.  Congress Realty allows New Mexico homeowners to list their property on their local New Mexico MLS for just $299.  Homeowners in Albuquerque, Las Cruces, Santa Fe, Deming, and around the state have saved a fortune through this program.  For more information, call 1-800-657-6579 or visit www.congressrealty.com.
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By MELINDA POTCHER
(DIVINE MORTGAGE, LLC)
I have a client, let's call her Heidi. Heidi is a very successful business owner who needed to refinance her home in order to pull out equity to use in her business expansion plan. Her accountant counseled her that utilitizing her home's equity would cost less in interest, and would be less of a hassle to obtain than an SBA loan.Let me show you how this scenario played out, and why if you want to work with a mortgage professional, my advice would be that you CHOOSE ME.Heidi's current loan is a 30 year fixed at 6.75%. She owes $188k on a $300k appraised value home. Heidi wants to pull out $35,000 of equity. Because rates are so good right now, we can get her 5.125% on a 30 year fixed. The lower rate and cash out result in a payment that is only $33 more than what she is currently paying ...
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By MELINDA POTCHER
(DIVINE MORTGAGE, LLC)
 It was this past Wedesday morning, 9:26am.  I officially lost my mind.  In that moment in time, I saw my 30 year fixed rates dip down to 5% at par.  The 15 year was somewhere near 4.5%.  I frantically sent a blast email to all my Clients & Realtors.  LOCK NOW!  I typed at lightening fast speed, my french manicured nails click click clicking away on my computer keyboard.  I ran scenarios, amortization schedules, loan comparisons like a whirling dervish.  I advised all I spoke to that I had no idea how long the rates would hold, that given the feds reduced short term rates after a 300+ point loss in the DOW the day before, it was more than likely that the market would rebound, and rates would rise again.I hadn't seen mortgage rates this good since the Refi Boom of 2003 - when everyone & ...
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By Laura Warden Nordin, 30-year Top Producer in Greater ABQ Real Estate
(Century 21 Camco Realty)
Last Sunday's Historic Homes Tour in Albuquerque was a resounding success! Literally hundreds of Albuquerque residents flocked to see this tour of dozens of Albuquerque's historic homes, all for sale, and all available to tour during one four-hour period on Sunday afternoon, January 13th. While organizers had, of course, hoped for a good turnout, the results exceeded their expectations. Map locations ran out of maps early, and I found I had half a dozen phone calls and emails, just myself, requesting maps! Homes had dozens of visitors at any given time, and the traffic was constant from the 12 o'clock opening until homes closed at 4:00 p.m. Most of the homes were clustered near each in just a couple of different areas in downtown Albuquerque, leading visitors to stroll from one home to ...
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By Eloise Gift, Albuquerque New Mexico Real Estate
(Gift Realty NM)
 The Albuquerque, New Mexico economy received good news today. The first came from Eclipse Aviation http://www.eclipseaviation.com/ Albuquerque, New Mexico's  small airplane manufacturing plant that has had to defend itself from repeated negative unsubstantiated rumors these past few weeks. Eclipse, announced a $100 million equity investment by European Technology and Investment Research Center (ETIRC) Aviation and renewed their commitment to remain part of the Albuquerque community. The second announcement of good news came from  Governor Bill Richardson himself, fresh from his presidential campaign that SCHOTT AG will build a solar products manufacturing plant in Albuquerque, creating as many as 1,500 jobs at peak production in an eventual $500 million complex. A $100 million first ph...
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By Laura Warden Nordin, 30-year Top Producer in Greater ABQ Real Estate
(Century 21 Camco Realty)
2007 was not a bad market here in Albuquerque, NM. The average sales prices of single-family, detached homes in Albuquerque itself actually went up a full 7.4% in 2007 over 2006. The average sales price of these homes in Albuquerque was $247,032 in 2007, compared to $229,991 in 2006. Since 2006 was quite a banner year, these are pretty positive 2007 figures for Albuquerque, NM. The graph below says it all: And Albuquerque sellers didn't have to haggle a great deal to get their homes sold in 2007. On average, these homes sold for 97.4% of asking price, with sales prices averaging $247,032 while list prices averaged $253,695. This compares pretty well with the 98.1% of list price that 2006 sellers averaged in Albuquerque. On the other hand, the real estate picture in New Mexico was not co...
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By Tego Venturi
(Keller Williams Realty)
Albuquerque is on the list, again... not as high as last year, but still one of the better markets in the country. Top Real Estate Markets in 2008: "The 2008 Top 25 Real Estate Market Forecast An amazing dozen states real estate markets are represented on the 2008 Housing Predictor Top 25 Market list. The Top 25 with the highest forecast appreciation have the greatest probability of reaching their forecast of the more than 250 local housing markets Housing Predictor forecasts. In 2007 Housing Predictor’s forecasts were 86% correct within a 1 to 2 percent margin." WelcomeHomeABQ.com - Albuquerque Real Estate, Albuquerque MLS, Search all Albuquerque Homes for Sale. Rio Rancho Land Blog - News and Information on Rio Rancho Real Estate, Rio Ranco Land.
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By Laura Warden Nordin, 30-year Top Producer in Greater ABQ Real Estate
(Century 21 Camco Realty)
While Albuquerque certainly has a huge number of brand-new homes in neighborhoods that are still wet behind the ears,  it is also home to a number of stunning and historic older homes. Next week, over 20 such historic NM homes will be available for viewing on Sunday, January 13th from noon until 4 p.m. on the first Parade of Historic Homes in Albuquerque!The tour was created by a group of local realtors, with the help of sponsorship from Stewart Title, Llewellyn Mortgage, and other local companies, and even features a number of properties listed on the State or National Register of Historic places. An article in the real estate section of today's Albuquerque Journal informed Albuquerque readers about the tour. If you're tired of cookie-cutter homes in spanking-new subdivisions, come on ...
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By Eloise Gift, Albuquerque New Mexico Real Estate
(Gift Realty NM)
Hot off the press! Housing Predictor http://www.housingpredictor.com/top25 in its latest update, places Albuquerque, New Mexico at the top of its list of Hottest 10 Buyers Markets, after a surveying 75 markets nationwide. According to Housing Predictor, their conclusion is based on Albuquerque's continuing attraction to outside investors that are bringing new industries like film and airplane manufacturing to the ares, thus contributing to population growth of people who want to buy houses.  This news is, of course, not surprising. Those of us in the trenches everyday usually can sense which way the wind is blowing despite what the headlines say. We also know that if people have jobs and the economy is thriving, buyers will have money to buy homes and sellers will be able to sell their ...
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By Laura Warden Nordin, 30-year Top Producer in Greater ABQ Real Estate
(Century 21 Camco Realty)
In Albuquerque, NM, historic homes are becoming chic and trendy with a younger generation!Last Sunday's issue of the Albuquerque Journal focused on the new popularity of the Huning Castle neighborhood,  Albuquerque's established and historic Country Club area. It seems a whole new generation is discovering the benefits of the big, 50-year-old trees, pedestrian-friendly walking routes, and charming and unique homes of this downtown neighborhood.Adjacent to the old Albuquerque Country Club, and convenient to Downtown, this neighborhood continues to be in high demand, commanding top-dollar prices. Extensive remodeling of older homes to bring kitchens, baths, and master suites up-to-date are highly popular, and the few remaining vacant parcels are quickly snapped up if they appear on the ma...
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By Venturi Realty Group, Albuquerque's Trusted Real Estate Team
Are you looking for the perfect home? Do you feel some distant call to head back to the roots of the land? Back to somewhere in time, rich in heritage - be sure to visit http://www.welcomehomeabq.com/ and find out for yourself the reason most people are turning to this beautiful location in the desert Southwest to search for their dream home.Offering a healthy, dry climate, and more sun than most states see, Albuquerque NM is one place you will not want to pass up.  Finding the perfect home in the Albuquerque area can be a hassle if you are not familiar with the ins and outs of the real estate game. The WelcomeHomeABQ team specializes in real estate services that provide you with the information and assistance you need for an easy home buying or selling experience.There are so many beau...
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By Laura Warden Nordin, 30-year Top Producer in Greater ABQ Real Estate
(Century 21 Camco Realty)
The doomsayers would have you believe that astronomical numbers of foreclosures are happening daily, but that's certainly not the case here in my neck of the woods in New Mexico! The foreclosure rate in Albuquerque, NM is actually DOWN 31% from a year ago!These numbers were just published in the Albuquerque Journal yesterday, based on figures reported by RealtyTrac. According to the same sources, the state of New Mexico overall reported a decrease of over 12% in the foreclosure rate, when comparing this year to last year! OK, you may be thinking that 31% or 12% decreases in the foreclosure rate may be in the right direction, but still represent some very high numbers of foreclosures, right? Wrong!The Albuquerque metro area showed one foreclosure for every 880 households in the third qua...
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