Year End Decade End Summary

It's that time of year again when the news media assembles a montage of news clips events and things they reported about in 2009 and the last decade that we all remember or have forgotten or in alot of cases would like to forget or never really cared about in the first place.

Hopefully someday the news media will go back to being just that news. In the mean time it is refreshing to gain information, converse with people via blog websites, and social media networks such as facebook and twitter. The priveledge of being able to blog and provide hopefully for my readers valuable little tips of information about buying and selling a home or other things to think about when planning for your financial future.

Ok, so back to my montage, what has happened here in Albuquerque Real Estate over the past year? Well I don't need to tell you home sales overall are down. The number of foreclosure and short sale properties are up, and alot more people have gotten behind on their mortgage payments and are in the process of being foreclosed or trying to short sell. But the silver lining is: ALBUQUERQUE AND RIO RANCHO AS A WHOLE ARE ALOT BETTER OFF THAN THE REST OF THE COUNTRY! Albuquerque is not immune to the outside forces of the overall Real Estate market or the problems in the mortgage industry. But Albuquerque also for the most part did not participate in the large boom (bubble) either. Traditionally at least since 1980 the average price of an Albuquerque home has risen by 3-4% per year. So five years from now when we look back at 2008-2011 we will probably see that over all Albuquerque and Rio Rancho has prospered from a healthy overall economic climate and stability.

Best wishes in the New Year! If you or anyone you know is looking to buy or sell Real Estate in 2010 give me a call! Happy New Year!

Real Estate Statistics Southwest side of Town

So its December, nobody wants to look for a house during the holidays right? Wrong, placing your home up for sale in a traditionally slow time for Albuquerque Real Estate has an advantage, fewer homes for sale and less competition. Right now with the First Time Home Buyers tax credit of $8,000 and historically low interest rates, it may be one of the best opportunities to buy a home in years.

Lets take a look at the Southwest section of town where you can find alot of newer built homes with east access to Freeway, close to Petroglyphs National Park, country living in the South Valley along the Bosque and dynamic views of the Sandia Mountains. The Areas used for the example are Areas: 90,91,92,93 Bordered by Central Avenue to the north, The Rio Grande River, Bridge, and the I-25 freeway to the east, I-25 and the Isleta Indian Reservation to the south, and the West Mesa to the west.

Currently there are as of this writing today, 504 active listings for sale in this area, 116 homes are currently pending and 76 have closed in the last month. This means there is currently a 6 month supply of homes to be sold. Of those homes here is a breakdown of the actual price range:

0-100,000 = 44
100K-150K = 242
150K-200K = 162
200K-300K = 37
300K-500K = 23
500K-700K = 9

The lowest priced home is $49,000 and the highest priced home is $700,000.

Ok, but why then is December a good time to sell a home? Of those 76 homes that sold last month 62 were between 100K-200K, there are 396 homes to look at and the average home buyer looks at 12-25 homes before they decide to purchase. In most of the price ranges, chances are they will look at your house, between 100K-200K maybe 1 in 6 will look at your home. But compare that to February, March, and April when more homes are on the market, can be almost 40% higher, the chances of your home being seen are slimmer with so many homes to choose from.

Well ok, I understand all the home selling stuff and yes December looks like a good time to put my home up for sale but I am a home Buyer how does that help me?

You have the time to shop for a home, calculate if the monthly payment is right for you, pre-qualify for a mortgage, spend all day calling William to send you more information on properties, and scheduling appointments to see them. You have historically low interest rates around 4.7-5%, a first time home buyers tax credit of $8,000 or a home buyers credit of $6,500 if you decide to move into another, larger or similar home and have lived in your current home for 5 years. A professional Full Time Realtor who will walk you through ever step of the process, from paperwork, home inspections, title companies, and moving services.

And most of all? Peace of mind, that you made the right choice to buy a home!

A Christmas Carol ~ 2009 version

Ebenezer CEO was walking to his brand new GM Cadillac he got for a steal after turning in his old clunker 1990 Nissan his son had used 15 years ago for college. Counting his money from the huge bonus he received this year; from saving his company from bankruptcy by taking a big bailout from the government. He noticed a man, his wife and small boy standing in line at the food shelter.

The man Bob Cratchett had just been laid off from his job about 6 months ago and his little boy "Tim" needed surgery that his HMO refused to cover. Although his wife tried to look for work, she was a very successful office manager for a home builder, she to was soon unemployed when the home builder packed up and moved out of town.

A few months went buy and a few late mortgage payments Ebenezer CEO foreclosed on their property and left them homeless. No matter that Bob was able to catch up with the payments the bank foreclosed anyways.

"Are there no work houses, are there no prisons?" He exclaimed "Bah Humbug" He got to his car his driver took him, way uptown to the top of the hill to his gated community.

"What are we going to do Bob?" his wife asked. "I don't know, after we were foreclosed on our credit is ruined. No one will rent us an apartment and I can't keep paying the $25 credit check they keep asking for or we won't be able to pay the security deposit and rent." He kicked a bag into the street. A policeman pulled up and wrote him a ticket for littering.

Ebenezer was visited by three ghosts that night:
The First was Herbert Hoover
The Second was Charles Keating
The Third was Bernie Madoff

He awoke that morning, jumped up out of his bed glad to be alive, feeling his heart, and his hands, he rushed to the window. He opened the shutters and exclaimed to a boy watching his father mow his yard. "Boy what day is this?" The boy says "Que?" "What day is this" Ebenzer starts feeling frustrated. The boy says "No habla ingles?" Ebenzer shuts the window glances at the computer and looks at the date; it is December 26th.

"Great, the markets open." He calls his secretary. "Take out the rest of my money and buy,buy buy!" He laid back in his chair, he knew he didn't have a heart of gold but at $1200.00 an ounce he could just buy one.

What happened to the Cratchetts you ask? Well were still waiting for that story to unfold in 2010. Maybe with a public option for health care "Tim" will be ok. Maybe Bob and his wife will get another job, cleaning out all the foreclosed properties. We will wait and see.

Ok, you say I need to lighten things up a bit, well I no longer work for Walt Disney, I did for a brief time in 1995 after I was "let go" from Countrywide as the benefits administrator. One thing about Walt Disney as a company is; it truelly is the happiest place on earth when you work there.

Although I won the Wall Street Journal Dartboard contest earlier this year with my stock pick Rangold Resources (GOLD), I chose to sell it last week because I wanted to take the considerable profit. I do not forsee anything wrong with the company and truelly believe the next big bubble,like Real Estate in the 00's and Tech stocks in the 90's is in gold, I do not want to be a part of it. If you continue to read past articles on this blog like the Christmas themes you will understand that I warned of the coming economic downturn and this year although I believe it is going to stablize after a brief downturn in March or early April in the next few coming months we are going to here about the rise of gold and just like the housing market everybody buys when its going up not when it is at the bottom.

I also would like to welcome our newest affilliate Coffees of Hawaii can you guess what everyone is getting for Christmas this year?

Short Sale, Forclosure, HUD, REO what does it all mean?

While Realtors are out there peddling the first time home buyers tax credit; many first time home buyers and even seasoned home buyers and sellers are confused by all this new terminology in Real Estate.

Turn on the financial news channels and the pundits are out their with the new foreclosure numbers, the levels of homes banks are carrying in the REO departments; it is up a few percentage points from last week etc..

First lets explain the whole process from the very begining. The very, very beginning is when John Homeowner is late on their very first mortgage payment. Depending on the lender they will probably charge you a late fee and everything will be ok. Not always, I know of a case where a lender started the foreclosure process on the individual the next day even though the payment was sent. Don't panic if you haven't made the mortgage payment it was eventually worked out but the lender does in some cases have the legal right to foreclose.

Foreclosure is the legal process the lender takes to take possession of the property to insure their vested interest or amount of the loan. Generally after 3 months of no loan payments the lender files a lis pendens with the local courthouse and begins the process of evicting the homeowner from the property. This process can take 6 months to 2 years depending on the court system and individual case.

During this period of time the homeowner can choose (hopefully early in the process) to place their property up for sale and sell it prior to the foreclosure if the property is worth $220,000 in the market place and the homeowner owes the bank $200,000 they sell and the foreclosure proceeding stops. If however they owe $200,000 and the property is only worth $180,000 they are short the amount it will take to close on the property or they need to take $20,000 out from other sources to close on the property or ask the bank to take the loss and help them avoid the foreclosure proceeding. This is a "Short Sale". Generally banks are pretty willing to work with distressed homeowners to get these "Short Sale" properties closed because time is money, the longer the bank has this $200,000 tied up in this foreclosure proceeding the more money they are loosing not only in court costs but in interest on being able to loan out the money. Even after the property is foreclosed the bank still needs to sell the property paying the closing costs, and they inherit a property that they have no idea what kind of condition it is in. No one told them that John Homeowner had 40 cats and a hail damaged roof that leaks when it rains.

When the property is owned by the bank and has been foreclosed it is known as a R.E.O. or Bank R.E.O. which is short for Real Estate Owned. Banks typically price the home under current market value to induce a quick sale
giving an incentive to Jane Homebuyer to purchase the home, what Jane doesn't get is usually a history of the home or disclosure of known defects about the property because quite frankly most banks don't know any information about the property being sold.

Ok, so what about all these foreclosure homes everyone is talking about what are those? Homes known as foreclosed are homes foreclosed by, government agencies like H.U.D. (Department of Housing and Urban Development), and semi-government agencies like Fannie Mae and Freddie Mac who sell their homes in the same way as a bank REO it is just no bank is involved. You can search for foreclosed HUD homes on www.southwestalliance.com for the New Mexico & Texas HUD listings or through a HUD trained Realtor like myself. They work in exactly the same way a bank REO does, the government sells slightly below market value to procure a quick sale and move these homes off the market. The difference is the government offers incentives to police officers, nurses, EMT's, teachers, and firefighters at 50% of the home price in an effort to stabilize neighborhoods, the feeling is that these professions are people who get involved in their neighborhoods and communities. They also favor first time homebuyers that want to live in the property before an investor looking to "flip" or rent out the property. This incentive is why the myth that everyone can go out and bid on a foreclosed property at 50% of the price and actually get the property will go into my next example.

Recently I had a Bank REO property that was listed at $1.1 million dollars. The appraisal at the time for the property was $1.3m but the only offers we received were for $600K, $650K and $725K respectively. The bank refused all 3 offers why? The bank loan was probably around $1m so the bank would loose around $400k(ish) on a property worth $1.3m even though the market was slow the bank would be better of waiting 1 year until the market changed and sell it for the 1.3m and make a profit of $100-200K than a loss of $400k in that instance the $1m they are not making interest on in the mean time would not make the same amount of money for them as to just sit. Even though any Realtor will tell you letting a house just sit for 1 year or more causes problems to the actual property. The loss of the $400k won't get any bank employee a promotion any time soon.

So your mortgage payments are to much for you what do you do then? Contact your bank or another competitor to see if they will do a loan modification for you to reduce your monthly payments and you keep your home. Or you call me and place your home up for sale, regular or short sale BEFORE, did I say BEFORE you stop making the mortgage payments! Even if you are a few months behind and the lis pendens is filed it is not to late to try to sell your home; my recommendation is if you don't use me as your Realtor then use an experienced short sale agent who can actually get the property closed and knows how to work with the banks to do it in a short period of time. The main reason home buyers do not want to purchase short sales is because they can take anywhere from 60 days to 9 months to close.

Don't forget to visit http://www.BuyaHouseNewMexico.com to see our great new look!

We aslo want to thank you for visiting out affiliates, I am working on a few more deals with major companies to improve your home buying and selling experince:

Personal Changes

Dear Readers,

Both BuyaHouseNewMexico.com and me personally William Staab are going through some exciting changes and updates that should make your Real Estate experience an easier and more enjoyable experience. The BuyaHouseNewMexico.com and SellYourHouseNewMexico.com website will be down for a few days but should be up and running with a great new look and some exciting changes by November 1, 2009.

I personally have gone through a change after five years leaving my former broker Coldwell Banker Legacy to move on to Keller Williams Realty. I am going to miss Coldwell Banker Legacy, I worked with some fantastic dynamic professional individuals who made this job challenging, rewarding and fun every single day. I look forward to the same experince with Keller Williams which also has a great group of professional individuals.

The most important part of real estate is you my customers, I want you all to know that I am making these changes to ensure that when you look for a Realtor to Buy or Sell a home you know that you can count on me to provide you with top level customer service, state of the art real estate tools, and an enjoyable experience as you also go through a great change and upheaval in your life as you make your transition also.


William Staab
E-Pro Realtor
Keller Williams Realty

Buy A House New Mexico Website Change

Dear Readers, Clients and Website Browsers,

On the first of October 2009, the BuyaHouseNewMexico.com, BuyaHouseNM.com, SellYour HouseNewMexico.com and SellyourHouseNM.com will have a new and updated look. You can also use the new website http://www.williamstaab.com as of today and search for houses as you have done before.

Changes to the new website, will have easier searching tools, and updated graphics, map searching tools, access to Coldwell Banker Legacy open houses and alot more. What will be different is the access to services on the relocation page. Offers for cheap airline tickets, car rental discounts, and home improvement offers will continue to run on the blog. We also will not have the ability to search for floorplans of new home builders and models, but they can be provided at www.salestraq.com.

My contact information will also change instead of info@buyahousenewmexico.com my email address will be william.staab@coldwellbankerlegacy.com.

For our followers that have the daily emails of new listings sent to them, those can continue, but instead of entering the search criteria information yourself, I can set you up on a system that will do exactly the same thing through the Coldwell Banker Legacy personal retriever system.

We want to make your home search and on-line experience a pleasant one, and want you to continue to enjoy shopping for homes online with us at www.BuyaHouseNewMexico.com

Thank You
William Staab

Time limit for $8,000 First time home buyer credit almost over.

Act Now To Get First Time Buyer Tax Credit

The $8,000 tax credit for first time buyers is working, drawing new people into the market and providing a big reason for growing home sales in metro Albuquerque. While the program ends November 30, as a practical matter, it ends in early September. That's because it typically takes from 45 to 60 days from signing a purchase agreement until a sale closes. You must close and fund on your new home by November 30 to quality for the tax credit.

The $8,000 tax credit is only for first-time home buyers. The law-the American Recovery and Reinvestment Act of 2009-defines "first-time home buyer" as someone who has not owned a principal residence during the three-year period before the purchase.

The tax credit is refundable. It could mean cash for you. If you pay less than $8,000in federal income taxes, the government will write you a check for the difference.

Home buyers who file as single or head-of-household taxpayers can claim the full $8,000 credit if their modified adjusted gross income is less than $75,000. For married couples filing a joint return, the income limit doubles to $150,000.

The tax credit especially appeals to people seeking more affordable homes. Inventories are low in this range. Homes are selling quicker and for higher prices. It's a sellers market for more affordable homes. If "more affordable" describes your home and you are considering selling, it is a good time to move up, to get that extra bedroom..

For higher priced homes, however, it's a buyers market. Inventories remain high for these homes. Plenty of choice exists and you can still get a good deal.

For first time buyers, the New Mexico Mortgage Finance Authority created the Tax Credit Loan Program to help with the down payment and closing costs. A first-time homebuyer can borrow 8% of the sales price or $6,500, whichever is less, and use the tax refund to repay the loan.

Give me a call. I will explain the tax credit program and find your new home.

Thank you for shopping with our great affiliates below:

Americas 12th Largest Mortgage Lender Closes

Taylor Bean and Whitaker Americas 12th largest home loan company has closed it's doors after being suspended by federal agencies F.H.A. and H.U.D. An auditor for F.H.A said: "Irregular transactions that raised concerns of fraud."

This is sending shock waves through the mortgage lending industry. Taylor Bean and Whitaker represent 1.7% of the total loans made in the amount of $17 billion dollars so far just this year. This is also not good news for customers having to refinance or currently have a loan pending with Taylor Bean and will have to look somewhere else for financing.

Taylor Bean has traditionally followed guidlines set by Fannie Mae, Freddie Mac and F.H.A. which has allowed it to surrvive while other lenders have failed in the last few years like one well known here in Albuquerque; American Home Mortgage. Taylor Bean also used documents such as utility bills to prove credit worthiness of FHA borrowers with lower credit scores.

Some Analyists are predicting a rise in current interest rates as larger lenders like Bank of America and Citibank do not have to compete with lenders such as Taylor Bean.

Coldwell Banker "On Location" Youtube Channel Draws a Crowd

Immersive YouTube Channel Now Most Viewed in Real Estate Industry;
Attracts more than 200,000 Visitors in First Month and Features 1,700 Localized Videos

PARSIPPANY, N.J. (June 23, 2009) – In just one month since its launch, Coldwell Banker “On Location,” an innovative branded YouTube™ channel focused on real estate search and insights, has reached the milestone of more than 200,000 visitors to the site. Designed to offer consumers a new way to search for and interact with real estate information, listings and local insights via video, the channel currently features more than 1,700 videos (1,300 of which are new since the site launched), that highlight behind-the-scenes looks at towns and neighborhoods, smart tips and timely news on real estate topics, and video listings of homes for sale.

Coldwell Banker Real Estate LLC launched On Location in May 2009 becoming the first brand to fully tap into the power of video. Since its launch, On Location has been among the top ten most-viewed brand channels on YouTube and is the leading real estate brand page on the site.

“The response we have seen since the launch of On Location has been tremendous and it is a confirmation that video truly is the way of the future for real estate,” said Michael Fischer, senior vice president, marketing, Coldwell Banker Real Estate LLC. “The Coldwell Banker sales force has already uploaded more than 1300 original videos with many, many more on the way. We are proud to lead the industry with an online resource that provides consumers with information to help them through the home buying and selling process.”

Two areas of strategic focus set Coldwell Banker On Location apart from other real estate Web sites. First, it showcases the power of video to bring real estate more vividly to life – offering behind-the-scenes looks at towns and neighborhoods, smart tips and timely news on real estate topics, and video listings of homes for sale. Second, content posted to On Location has a strong emphasis on local information and insights, so consumers can dig deeper into the areas of the country that interest them most.

Fischer noted that the channel is continuing to grow with content being added every day. “As more and more videos are uploaded, On Location will become an even greater asset to consumers. It has the potential to be the Web’s richest array of real estate video content, and the results we have seen thus far prove that we are well on our way," he said.

To create On Location, Coldwell Banker Real Estate closely collaborated with both YouTube, a Google subsidiary, and Google to develop a customized framework and user experience. In addition, On Location is the first branded YouTube channel to use dynamic IP lookup to search for videos, which automatically serves up local results when visitors first hit the site.

Development of the On Location site was a collaborative effort by Coldwell Banker interactive agency partners, FD Kinesis and Bootstrap Software, Inc.

To see a video about Coldwell Banker On Location please visit: http://www.youtube.com/watch?v=W1AKZDhUrLY



YouTube is a subsidiary of Google Inc.

About Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and more than 101,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

See these great specials from our partner Lumber Liquidators:

Halfway hrough 2009

With the rise in gasoline prices over the 4th of July and through August it should be interesting to see how this affects the local Albuquerque Real Estate market. While they are predicting that prices are going to rise to $3 a gallon, I have another prediction for you: Try $4.00 a gallon by August 1rst, why? The speculators are back in the market again same as last year and with the current price of a barrel of oil at $72 a barrel well.

Something to consider before you buy a new home or a new car are what exactly is this going to cost over 10 years or more that you are living in your home. Shrinking those electric bills, and gasoline costs for your commute to work isn't always the first thing on a persons mind when thinking about living close to their job or buying to much home and spending the additional cost on the utilities over time. But lets just say you are thinking about a home in the NorthEast Heights for around $190,000.00 but you will have to commute to work to for example the Industies around Central and Coors or you can buy a NorthWest Heights for $190,000 much closer to work but 500 sqft larger than the same home in the Northeast Heights for the same price. The two variables you cannot control is the price of the cost of the gasoline to get to work or the fluctuation in costs to heat, cool and light the larger home in the Northwest Heights, is it exactly a trade off? Maybe, maybe not; driving the kids around town, your spouse's job, where you shop and where you go for entertainment can all play a factor.

So what is the right answer? There isn't one because each of these factors has to be considered by each individual.

My Answer: Buy the home in the Northwest Heights closer to your job, but buy a home 500 square feet less than the $190,000 home as you were getting in the Northwest Heights as you were in the Northeast Heights for around $51,000 less (1 sqft = average price of $103 per squarefoot). or roughly $140,000 and reap the rewards of the lower mortgage payment, cost of utilies, and pain at the pump!

Great car rental deals from Enterprise:

Can a late mortgage payment force you into forclosure?

Many of you are aware I work in the Bank REO, Short Sale and Foreclosure markets. What stories I have been hearing lately (I will go into later) is of customers as little as 1 day late on their mortgage payment being forced into foreclosure because the mortgage holder no longer will accept their payments.

This is hard to comprehend. Why would the mortgage holder risk the costs incured with Real Estate Attorneys, Realtors, and the length of time to regain the borrowed funds through foreclosure if at all; rather than just accept the late payment(s) with a late payment fee and continue to allow the homeowner to honor the repayment contract?

We here alot of talk on TV and Radio about the homeowners that bought to much home, with payments that were to high, borrowed way to much and the Realtors and Mortgage Lenders that allowed them to do this so it is all their fault. But what about the homeowner that didn't? What about the homeowner that due to the downturn in the economy was laid off and got behind on the mortgage payment but was then able to catch up? Shouldn't we as a country say, "Gee sorry Joe Homeowner that is unfortunate what happened to you, glad to see that you were able to get back on track." Instead of "To bad for you, oh by the way, we have repossessed your car, sold your home at auction and with your now bad credit, good luck finding an apartment to rent."

Just in the last two weeks I have heard three stories from Veterans, excuse me let me rephrase that Disabled Veterans that are in the process of being foreclosed on or have been foreclosed on. Good honorable people that want nothing more than to pay their mortgage and continue living in the homes they purchased but the companies that hold the mortgage have refused the payment. One homeowner was one day late with the payment and they refused to accept it. The process continued, they put their faith in an attorney and a supposed self proclaimed knowledgable Short Sale Realtor that did not inform them of the process along the way. They were summoned by the foreclosure attorney to appear in court and waited the whole day for their case to be called. They were told by the judge their case had been settled earlier back in chambers and the home had already been foreclosed.

I also had a customer earlier this year that had this happen also, we were able to negotiate a short sale and close on the property, however the late payments, interest, and penalties took the original loan of $94,000 up to $112,000 and we sold the property leaving a short of $5,700 the customer could not pay in closing costs. The Mortgage Lender had the customer take out $10,000 promissary note to pay the short of $5,700 and close the deal. So in the end the mortgage lender recovered $122,000 in six months on a $94,000 loan, or a profit of $28,000 because they refused to accept the customers late payments.

I am seeking help from my readers, I can not figure this out? What is the financial incentive not to accept the payments from these homeowners if short sale and the above example does not happen? If the bank or mortgage company is not profiting from the current policy of refusing payments is our tarp money being used to bailout the banks and provide the incentive to force customers into foreclosure? Are Mortgage Lenders actually double-dipping putting a lean on people for loan short falls and getting money from the tarp to cover the losses? Why are customers being charged late payment and penalties for late payment on month, two three and four when the lender will not accept the payment?

There also must be other stories just like these, how many people has this actually happened too? Why is no one in the main stream press talking about these cases? Who should these people contact that might be able to help them with their situation?

I have reached a dead end at the moment and might be talking on deaf ears, but I do have to admit, I make sure my own mortgage payment arrives a few days early now.

Real Estate Statistics

We now have the lowest months supply of homes 7.6 months supply than we've had since July of 2007. Yes, July of 2007. We have been averaging about 9 months supply so far this year.

Average days on market dropped 7.7% from January to April. We are now at 88 days. But not the greatest comfort when it is taking your home to much time to sell. Abaris Team William Staab and Jordan Knecht's average: 63 days.

More homes closed last month (588) since October of 2008. That number was slightly higher than March's number.

More homes went under contract in April (873) since May of 2008. In fact, April beat March by 17.8%. That means more homes went under contract in April than in the "busy" months of last summer 2008.

Between the $8,000 tax credit: http://www.federalhousingtaxcredit.com/2009/index.html
and programs such as the New Mexico Mortage Finance Authority:


This may be a good time to buy a home, contact us today to see if homebuying is an option for you.

As we move into the busy home buying season here in Albuquerque, although the statistics are showing signs of positive economic life, they haven't really been on life support here in Albuquerque as some other areas of the country, and even in the hardest hit states, the problem has really been in only 35 counties in all of those states.

I do not like to post just raw statistics here on the blog since the information is so readily available on every Real Estate website, ad infinitum, but try to provide you with information about the exceptional services offered on BuyaHouseNewMexico.com that will help you make a wise choice in the home you sell or purchase and insure that you have Realtors and Real Estate service providers that will provide the highest level of satisfaction and customer service.


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South Valley Property in Albuquerque New Mexico 87105

View more information about this property on You Tube click on title.

Local Realtor wins Wall Street Journal Dartboard Contest #33

Local Albuquerque Realtor William Staab with Coldwell Banker Legacy has won the 33rd Wall Street Journal Dartboard contest which ended March 31, 2009. The contest asked six people from around the country to go up against six stocks picked by the Wall Street Journal staff that were randomly picked by throwing darts at a dartboard.

The contest originated years ago when people started to remark that monkeys throwing darts at a dartboard could do better at picking stocks than financial analyists and pundits.

William Staab's stock finished 32% higher over the six month period, his next closest competitor was a dartboard pick that finished up 15% while the closest human competitor to Mr. Staab was down by 9%. Truely in the six months that this contest ran has been a difficult time for the stock market and the market is definetly reflecting the overall economy.

Out of the 33 Contests that have been held so far only 13 times a human has out picked the darts......?

How do you know if you have the right kind of insurance?

How do you know if you have the right kind of insurance? Or enough insurance?

Insurance is designed to protect your assets and your ability to earn an income. If you are found at fault in an accident and don't have enough insurance.you are still liable for the difference!

Our process focuses on a few different things that people may be used to. Where we do try and save our clients money. There is a fine line between over insured and under insured. This is where having a good agent and a good agency shows their true value.

Most people that come to us don't have enough coverage. Our risk assessment questionnaire shows a client how much they truly need. The important factors to consider are your assets. This can include the equity in your home, personal property, and investments. If you don't have enough liability to cover those few things you are at risk. The next, most important asset is your ability to earn an income. In most this is probably the most important and it needs to be protected in 3 ways. It needs to be protected against lawsuit, disability, and death.

This is how we truly help our clients, by educating them on the importance and need of good insurance and a good agent.

With over 15 years experience and the backing of some of the top companies in the industry we can effectively and efficiently handle any and all of our clients needs. Whether its auto, home, life, disability or business insurance we can make sure you are protected. We strive to give you the best customer service compared to anyone else you do business with. Doing business with us is fast and easy.

Who we represent:

Hartford, Safeco, MetLife, Kemper, Colorado Casualty, Fidelity, Foremost, Zurich, Allstate, to name a few.

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Albuquerque February Home Sales Report

Newly Listed! 9 units available in this manufactured housing condominium project. Great bargains if you are down sizing yet want to keep a home that is easy mobile and you can move close to work. Made of Chinese coragated paper, interior walls can easily be moved to create extra space or remove a wall to add on an additional bedroom or living area! Located near I-40 freeway underpass. Total price: FREE first come first serve.

No really folks it isn't really all that bad here in Albuquerque yet. Although pending home sales are down 7.2% from last month the actual median home price has risen by 5.7% from last month in Albuquerque and a whopping 25.1 in Rio Rancho from last year!

Inventory is shrinking, in Febuary 2008 there were 5,591 homes on the market compared to 5,373 in February 2009 The total number of new listings that entered the market was 1,272 as compared to January 2009 of 1,615 or down 14.2%

The total number of closed sales this month was 343 (greater Albuquerque area all price ranges) as compared to last month January 2009 324 was up 5.9%

The average selling time for a home in Albuquerque is currently at 96 days based on the average home price of $209,515.

So although we are not a frenzied pace of home sales like we were in August of 2007 neither is the rest of the country; considering the changes to the subprime mortgage and mortgage markets and the health of our overall banking institutions and mortgage lenders. Comparisons can be made to the stock market, while banking,financial amd automotive stocks have suffered during this economic downturn other companies like Gold and Copper Mining, Green/Solar companies have done well.

Our overall local economy is doing well, thanks in part to our Govenor Bill Richardson and local Mayors Marty Chavez of Albuquerque and Rio Rancho's Thomas Swisstack who have provided industries economic inscentives to relocate here.

Remember if you are thinking about buying or selling your home, we are here when you need us!
*Information and statistical information provided by Greater Albuquerque Board of Realtors Southwest MLS Sales Data deemed reliable but not guaranteed.©

Article written by:
William Staab
Coldwell Banker Legacy
(505)898-2700




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Marriott Residence Inn Albuquerque Airport

BuyaHouseNewMexico.com is pleased to announce its partnership with Marriott Residence Inn Albuquerque Airport to provide our relocating customers with the cutting edge of style, comfort and superior ammenties offered by this luxurious property located only minutes from the Albuquerque Airport. Our relocating customers can enjoy a great discounted rate and peace of mind that after a long day of looking for houses,the closing on their property, or waiting for their new home to be built.

The Residence Inn Albuquerque Airport held its official Grand Opening Thursday, February 12, 2009. The hotel was open to the public December 23, 2008. The hotel participated in the official Ribbon Cutting Ceremony with the local Albuquerque Chamber of Commerce. Guests of the hotel, local chamber members and business owners were treated to property tours, hors de’ oeuvres and one lucky lady won a trip to New York and a Broadway play!

The Residence Inn is an all-suite, extended stay hotel located conveniently between the Sunport International Airport and the University of New Mexico campus. As a brand-new property, the staff is happy to meet all your travel needs in comfort and style. The Residence Inn boasts the following home-environment amenities:

• Full Kitchens in every suite
• Flat-Panel HD TVs in every suite
• High-Speed Internet, both wired and wireless throughout the building
• 24-hour Market to satisfy even late night munchies
• Complimentary hot breakfast served daily
• Indoor pool and spa
• Sport court
• State of the Art Fitness Center
• 24-hour self-help Business Center complete with fax, copier, printer and computer with high-speed internet
• Guest Laundry Facility
• Valet Dry Cleaning (available M-F)
• Smoke Free Hotel
• Receptions with light dinner fare two to three night per week

The Residence Inn is close to Downtown, Old Town, and a plethora of restaurants, shopping and entertainment options. They provide their guests a little piece o home on the road.

The Residence Inn Albuquerque Airport has two different meeting spaces available. Their larger meeting room can accommodate a maximum of 40 and an executive board room that accommodates up to 8. They can seat meeting attendees in the meeting room in the following capacities:

Theater Style 40 People
Classroom Style 20 People
U-Shape 25 People
Square 30 People

Pricing for our meeting rooms is:

Large Meeting Room $200.00 per day
Board Room $100.00 per day

Outside catering is permitted. There is some AV equipment available for a fee. Both spaces have high-speed internet available in both wired and wireless form.


2301 International Ave SE
Albuquerque, New Mexico 87106 USA
Phone: 1-505-242-2844
Fax: 1-505-242-2855
Sales: 1-505-242-2844
Sales fax: 1-505-242-2855