Albuquerque & Rio Rancho Real Estate Buzz

Previous post follow up report

2010-04-18T22:41:00.000-07:00

Ok, so I was wrong about the date of the last stock market hick-up, in my previous posts I said the stock market would have 1 more correction either the last week of March or first week of April, should have realized everyone would be doing their taxes and not worring about the stock market, but instead just let me say, I may have missed it by about 10 days but in my defense while Phil Graham and the Republicans were calling this a mental recession that is all in the democrats heads, I was predicting the fall of the housing market as clearly evidenced in this blog, long before Geitner, long before the Fox news network and even before most of the media except for Thom Hartmann on progressive talk radio.

So lets see, whats my track record, since 1996....well predicted the tech bubble crash, spoke out about removing glass-steagal act long before I ever wrote a blog, got fired from CountryWide, hmmmm probably to ethical to swim in that shark tank, which is ironic since I now work for Bank of America! LOL!

Lets see won the 33rd Wall Street Journal Dartboard contest in March of 2009 beating my competiton by over 23% and my stock pick up a whopping 41% in the six months of the contest September 30, 2008-March 31, 2009 <--see wall street journal dartboard contest at www.wsj.com search: Dartboard.

So overall, I have a darngood track record, so good in fact I am currently tracking 2973rd in the www.CNBC.com guess the dow contest, sponsored by the Kentucky Derby. I encourage you all to play it is quite fun.

Hold on to your 401Ks, House Titles, Stock Portfolios and Bank accounts, the rest of 2010 is going to be a bumpy ride! (especially at the gas pump and grocery store.)

May April 20, 2010 Dow Jones not follow Asia, and go softly into the night.

Last Post for Albuquerque & Rio Rancho Real Estate Buzz

2010-03-25T06:57:00.000-07:00

Over five years ago I began a new career in Real Estate, I have enjoyed meeting some of the most fantastic customers and several new friends as a result. However the overall climate of the market at this time has me moving in another career path. So I am saying goodbye for now to the Real Estate industry.

What I have enjoyed most? Helping home sellers retain the value of their equity by not jumping at the first low ball offer that comes their way or listing the home so under price it sells in one day.

What I have enjoyed least? Driving 40 minutes across town to show a home only to have the party interested never show up and ever call again.

I found Real Estate to be very rewarding, challenging, and never the same job on a day to day basis, I found some of the most fantastic co-workers, brilliant professionals, and Realtors to do transactions with, and life long friends.

Thank You
William Staab

Beazer Homes in New Mexico

2010-01-18T12:16:00.000-08:00

New, New homes From the mid $100s

Introducing Beazer’s eSMART high performance homes. Engineered for energy-efficiency and comfort, our homes will save you money now and in the future. Add these new, new savings to the low interest rates, low home prices and the homebuyer tax credits, and you can see why it may be a great time to invest in a Beazer home.

Tesoro High Range

Rio Rancho, New Mexico

1,294-2,408 Sq. Ft.

Mesa Encantadas

Rio Rancho, New Mexico

1,674 – 3,253 Sq. Ft.

Entrada del Bosque

Albuquerque, New Mexico

1,674 – 3,253 Sq. Ft.

UP TO $10,0000 TOWARDS

CLOSING COSTS

on select homes* Ends Soon!

FEDERAL TAX CREDIT**

First-time homebuyers UP TO $8,000 and repeat homebuyers UP TO $6,500

Ends Soon!

*Up to $10,000 toward closing costs paid by Beazer Homes will be issued as a closing cost credit and is valid on properties in select Beazer Home Nevada communities for which buyer signs purchase agreement between 01/1/10 and 1/31/10, closes escrow per terms of the contract, and finances via Bank of America Home Loans. Buyer may fnance via any other qualified lender but must submit an application with Bank of America Home Loans to be eligible for the full advertised offer. This offer is subject to underwriting guidelines which are subject to change without notice, which limit third party contributions, and is available only through owner-occupied homes; non-owner-occupied homes are subject to additional restrictions and qualifying requirements. ** The information contained in this email is for informational purposes only and does not constitute legal or tax advice. Beazer does not advise on such matters and urges you to seek professional assistance to determine whether you qualify for the tax credit. This information is not an offer in any state where prior registration is required or where void by law. See New Home Counselor for complete details. © 2010 Beazer Homes. Not an offer in any state where prior registration is required. 01/10 79421

2010 Economic Forcast

2010-01-09T10:37:00.000-08:00

Will 2010 be a repeat of 2009 for the Albuquerque Real Estate Market. Nationally will trends continue?

Yes, (in my opinion) 2010 will be a slow economic recovery from the Real Estate Bubble of 2007 or the late 00's if you want to consider it that way. Economic indicators to me, seem to forshadow a downturn in the market in April of 2010 possibly last week of March 2010 that may or may not prompt Congress to extend the $8,000 first time home buyers tax credit. I believe if this is extended another time buyers will get the impression that the first time home buyers tax credit will always be there and there is no real rush or incentive to buy. Tradionally while everyone waits to get the lowest possible price for a home, the bottom of this Real Estate market will already be over, usually the economic indicators are 2-3 months behind the actual market, so prices will be on the rise, but just like the stock market, and Ebay Auctions, people have a tendancy to buy on the upswing of a cycle rather than at the very bottom.

In determining exactly when the Real Estate market will turn around will be based on consumer confidence. With Unemployment at 10% and most Americans running a deep credit card debt, and the freeze up by the banks in credit this trend will probably continue. Another interesting factor is oil companies are stating that they actually have a huge supply of gas at the refineries because demand has been lower this winter. So traditionally when prices go up in the spring do to everyone being out and about, can anyone actually explain why oil is over $80 a barrel and wholesale cost has risen to about $2.15 a gallon? Just a few more snow storms keeping everyone at home in the Midwest & East Coast, the supply at the refineries should be even higher?

Although nobody wanted to listen to me before, I will state again, the real reason we had a crash in this economy was not Real Estate or Stock Market speculation, bundled derivitives, or even the cost of the war but the price of gasoline going over $3.50 a gallon. Mr & Mrs. Joe consumer now had to pay more a week at the pump, that money came from somewhere, either an increase on credit card debt, or a decrease in that cup of Starbucks Coffee, Friday night out at Applebee's or that new Dress from Macy's. As this continued, Mr & Mrs. Consumer had to stop paying either the credit cards or the mortgage payment or both, as the mortgage delinquencies pilled up, the huge Ponze scheme of bundling the mortgages and selling the debt on Wall Street was revealed. Just like any good Ponze scheme it only works if you have a constant flow of new money, or in this case home buyers. Mr. & Mrs. consumer had had enough, so Mr. Employer now laid off Mr. Consumer to make up the difference he was loosing and the unemployment rate is now at 10%.

So you are telling me I am wrong, gas prices were not the issue, it was all you rotten Real Estate Agents, and Mortgage Brokers that sold me this house for $50,000 more now than its worth! Well, I do not believe I am wrong, explain to me while even though the price of gas has come down. Large oil companies continue to make outrageous profits quarter after quarter? Yes, some Real Estate Agents and Mortgage Lenders were out their putting people in homes they could not afford, but hopefully regulatory bodies within the industry will place stop guards into this practice.

While we can all sit around and hope for the best, this year and that 2010 will pull us out of this depression (I will not call it a recession)we can all play a part in our own recovery buy paying down our own debt, buying from american products when possible, rewarding businesses with our dollars that bring jobs back and invest in America rather than export our industries and jobs overseas.

I wish you all a prosperous new year, I on the other hand am looking forward to growing my Real Estate business and meeting lots of home sellers, and excited home buyers and having a never boring adventure in Real Estate!

Albuquerque Westside Housing Statistics

2010-01-05T09:09:00.000-08:00

Earlier we looked at the housing statistics for the Southwest Mesa, this month we will take a look at areas 110 whose boundaries are Paseo Del Norte to the North, Coors to the East to Montano to the Rio Grande River, to Ladera, to Atrisco to Unser and as far west as Albuquerque goes. Area 111 Boundaries is Unser to the north, Atrisco and Ladera to the Rio Grande River South to Central Avenue and as far west as Albuquerque goes.

An easier way to look at Areas 100 & 111 are Paseo to the North, the Rio Grande River, Central Avenue to the south and as far west as Albuquerque goes.

There are currently 453 active listings in these areas, 62 homes are currently in pending and 46 homes have sold. This means there is a 10 month supply of homes that are available.

The number of homes available in each of the price categories are:

................Area110........Area111.....Both....Sold
$0-$100K...........0..............9.........9.........2
$100-$200K........89.............170.......259.......23
$200-$300K........76..............38.......114.......18
$200-$500K........51..............7.........58........4
$500-$750K.........9..............2.........11........0
$750K+.............8..............0.........8.........1

I know what your saying all these statistics are fine but that doesn't help me get my home sold.

True but it does tell you the bottom line of what competition you face getting your home sold if it is between $100-$200K verses over $750K. Even though there are more first time home buyers in the $100-$200K range you actually have a better chance of selling your home if it is over $750K or a 1 in 8 chance than the 1 in 11 chance in the $100k-$200K range. Ok so what do you do now? Hire an effective Realtor that is agressive, markets to the broadest spectrum of potential home buyers in any price range, and make your home stand out to the competition!

Ok I could get my home sold faster if I just lowered the price but I am not willing to do that.

Well the price is determined by what someone else is willing to pay for it, not what you paid for it, not what Zillow says it is worth, not from your neighbors appraisal they had done last year. Take for example a home worth 200K, but it sits on the market for the 10 months it is currently taking to sell a home in Areas 110 & 111 right now. That is 10 months worth of mortgage payments at about $1250 with taxes and insurance figured into the payment. Ten months from now you sold the home for $190,000 because after that long that was the best offer. You have paid the $10,000 in asking price and $12,500 in mortgage payments or $22,500. Had you initially lowered the price of your home by the $10,000 ten months ago you may have found that buyer quicker willing to pay the full price of the home at $190,000 saving you the $12,500 in lost mortage payments.

Call me today to have a current market analysis done on your property, and to discuss the most effective way to get your home sold in 60 days or less instead of 10 months.

Shop with our Affiliates the money collected from purchases made through this Blog are donated to Charity:

Year End Decade End Summary

2009-12-28T11:46:00.000-08:00

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

2009-12-16T11:08:00.000-08:00

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

2009-12-02T18:19:00.000-08:00

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?

2009-11-14T09:18:00.000-08:00

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

2009-10-22T18:18:00.000-07:00

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

2009-09-23T07:17:00.000-07:00

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.

2009-08-15T14:51:00.000-07:00

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

2009-08-05T15:30:00.000-07:00

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

2009-06-24T10:11:00.000-07:00

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

2009-06-16T13:56:00.000-07:00

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?

2009-05-20T08:02:00.000-07:00

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

2009-05-04T17:08:00.000-07:00

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

2009-04-29T17:01:00.001-07:00

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

Local Realtor wins Wall Street Journal Dartboard Contest #33

2009-04-15T06:32:00.000-07:00

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?

2009-03-28T08:07:00.000-07:00

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.

Call us today to get your free, no obligation review. See where you stand!
A five minute phone call could save you hundreds.
Thanks
Justin Zoladz
Serna Insurance
(505) 217-4298

Visit our affiliates:

Albuquerque February Home Sales Report

2009-03-15T08:12:00.000-07:00

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

Shop with our affiliates below for great savings on household items and home renovations:

Marriott Residence Inn Albuquerque Airport

2009-03-03T14:10:00.000-08:00

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

Aaahh Chiro Spa's Dr. Kirk Manson

2009-02-27T18:16:00.000-08:00

Dr. Kirk Manson Chiropracter at Aaahh Chiro-Spa will be on KQNM radio tommorrow morning at 8am. Turn your radio to 1550AM to learn information from one of Albuquerque's Best Chiropracters.

For more information on Aaahh Chiro Spa visit their website:

http://www.aaahhchirospa.com

AaahhChiroSpa
Dr. Kirk Manson
1804 Carlisle NE
Albuquerque, NM 87110
(505) 884-0044

Dr. Manson is currently accepting new patients and accepts most insurance carriers.

Welcome to the "Great Deflation"

2009-02-19T06:46:00.001-08:00

We have heard alot of talk that we are in a recession or possibly a depression. If you read back in the history of this blog to February 2007 when I started speaking of the current economic crisis, the experts say no one could have foreseen how bad it was? Couldn't they? Can a Realtor Blogger from Albuquerque, New Mexico been the only one seeing it coming? I do not think so.

While housing in Albuquerque is still relatively stable it is suffering the effects of the over all US Economy, we are not immune, but home prices fell 4.8% last year after 3 years of record growth. Albuquerque as a whole has only fallen in two other years 2001 & 1982 so all in all not a bad record.

Why am I coining the term "The Great Deflation"? because typically in the past in order to combat inflation or deflation the Fed has manipulated the interest rate either higher or lower to increase or decrease the money supply. This time however with the interest rate at record lows, and the measure of CPI (consumer price index) we are seeing an over all drop in demand for consumer goods and services, with job losses, declining wages, declining home values and stock portfolios will only lead to further deflation as businesses lower their prices to get consumers back in them and spending again.

Is it a good time to buy an Albuquerque home? Absolutely, the biggest mistake consumers make is trying to buy at the absolute low in the stock or housing market. Consumers wait to long until the prices are back up in a frenzied pace like 2005 & 2006.

Is it a good time to sell an Albuquerque home? That depends on your individual neighborhood. If there are 3 or more recent REO's or Foreclosures on your block you might be better off staying put. If every other house on the block has a for sale sign on it you might have tough competition. But no matter what market we are in good or bad the old saying: Price, Conditon, Location match the buyer you will get your home sold."

So shop with our affiliates who already have great savings on products everyday:

Paul Allen Homes

2009-02-14T16:49:00.000-08:00

Want to extend a special thank you to Rex Paul Wilson & Robert Allen Lupton for inviting me to attend the press conference held by Mayor Martin Chavez out at their Green built community Sawtillo. Paul Allen homes is the City of Albuquerque's first approved Green path builder. To take a tour of the model homes in this community give us a call, you can also obtain floor plans from the New Construction page of www.BuyaHouseNewMexico.com or for more information about Paul Allen homes visit www.PaulAllenHomes.net We will be happy to mail out an informational packet reply for more information anywhere on the buyahousenewmexico.com website and put PaulAllen in your remarks.

We would also like to welcome our new affiliates Cheapoair & Kitchen Universe:

Free Albuquerque Home Search

2009-02-01T07:33:00.000-08:00

Located on the left side of the BuyaHouseNewMexico.com website you can search for properties in Albuquerque by selecting one of these 3 buttons:

Featured Homes
New Construction
Search Listings

Featured Homes: By clicking on this button you will see the homes listed by Coldwell Banker Legacy Realtors Jordan Knecht & William Staab; contact us we would be glad to ad your home to this list and get it sold!

New Construction: This button alows you to search for New Home Construction directly from the builders, you can even have floor plans of the proposed models emailed directly to you!

Search Listings: Search for all properties listed in the Albuquerque Metropolitan Area through the MLS system. You can even set the search up to email properties to you as soon as they come onto the market, the email will be filtered to properties that fit your number of bedrooms, square footage, and location depending on the information you provide.

Another button is the Pre-Qualify button, click on this page to see trusted lenders with have worked with in the past that can provide you with home financing solutions; you can pre-qualify for a mortgage right online (the information goes directly to the lender).

We are proud to announce that we have worked out a savings deal with Dollar Rental Car. You can check out our online affiliates here on the blog pages or on the 2nd page of the Relocation page on www.BuyaHouseNewMexico.com to find travel and home improvement discounts.

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Go Green and Keep New Mexico Free of Asbestos!

2008-12-29T07:46:00.000-08:00

By: Joe Lederman
Mesothelioma Cancer Center
www.Asbestos.com (click on title go green for direct link to website)

If you are in the real-estate industry or are a potential homebuyer, you may be at risk for asbestos exposure. Homes or buildings built prior to 1980 have a strong chance of containing asbestos, a mineral used throughout the 20th century in many building applications. There are many natural asbestos deposits in New Mexico, as well as several oil refineries and two power plants. Asbestos exposure is possible or has been noted at all of those locations. Real Estates man and potential home buyers should be aware that asbestos exposure can cause many health concerns for you and your family.

Popular because of its durability and resistance too many weather deteriorating conditions, asbestos was used in the manufacturer of thousands of products. Asbestos exposure causes an extremely debilitating and fatal lung ailment known as mesothelioma. Asbestos-related disease typically has long latency periods, sometimes taking up to 50 years for symptoms to develop. This makes it difficult for physicians to diagnose and treat. Even if your home or jobsite has had asbestos removed, exposure may have occurred previously.

The New Mexico Environmental Department is an organization that oversees the removal of asbestos from workplaces, homes and buildings. It is especially important to determine if asbestos is in the water or steam pipes. It is best to coat them with modern protection such as plastic or sprays that will encapsulate its fibers. Removal of asbestos must be performed by licensed abatement contractors who are trained in handling the substance. Once the area is clean, green eco friendly options should be considered. These include: cotton fiber, cellulose and lcynene, a water based spray polyurethane foam that features no toxic components.

Due to these recycled materials, waste is decreasing in crowded landfills. Currently, many cities in the U.S. have created lumberyards which re-store recycled building substances that are authentically strong and inexpensive. Many people do not give much thought into what is being consumed around them throughout their daily lives. Americans in the workplace don’t pay attention to the air they breathe while at work or leaking faucets in bathrooms.

Many cities are adapting to this new green paradigm. In New Mexico, construction practices are upgrading methods to suit better lighting, heating, cooling systems and environmentally habitable insulation. Studies show that cotton fiber insulation can save homeowners 25 to 35 percent of energy usage every year. The Green Building Resource Center indicates that in the U.S., buildings account for 36 % of energy use, 65% of electricity and 30 % of all greenhouse gas emissions.

Check out:
Mesothelioma Cancer Center
www.Asbestos.com

Was it the Night Before Xmas

2008-12-24T17:18:00.000-08:00

Was it the Night Before Xmas, when all through the house
Not a creature was stirring, not even a mortgage lender.
The stocks and bonds were all burned in the chimney with care,
In hopes that the Fed, The I.R.S. or Bernard Madoff were not there.

The children were nestled all snug in their beds,
While visions of bill collectors danced in our heads.
And mamma in her Nordstrom's and I in the GAP,
Had just settled our credit card bills hidden under a cap.

When out on the lawn there arose such a clatter,
I sprang from the bed to see what was the matter.
Away to the window I flew like a flash,
Tore open the shutters and threw up the sash.

The Realtor walking on the new fallen snow
Gave the lustre of mid-day to foreclosure sign below.
Then what to my wondering eyes should appear,
but a sheriff, his deputies all drawing near.

With my golf clubs and driver, so lively and quick,
I knew in a moment we had to get out quick.
More rapid than vultures the auctioner came,
and he whistled, and shouted, and called buyers by name!

Now 100! now, 200! now 250 no more!
On 255, On 260, 260 and more!
To the top of the porch to the top of the wall
Now get away, get Away, get away all!

So mama and I and the children did leave,
thanks to George Bush's economy and the pink slip in my sleeve.
The future is bright a bank bailout on the horizon,
I leave with my cell phone turned off by Verizon.©

Written by William Staab adapted from the poem Twas the night before Christmas by Clement Moore. No part of this article may be publish or reprinted without the sole consent of the author or this blog/website.

WIN Home Inspection in Albuquerque, Rio Rancho & Santa Fe

2008-12-18T05:18:00.000-08:00

The best time to start a maintenance program for your home is now!

A well-maintained home is safer and more comfortable to live in and also improves its salability if you should put it on the market. An example of a maintenance issue that would make a home more comfortable is proper/effective sealing (weather stripping and caulking). Weather stripping the doors and windows, caulking around the door and window frames, and caulking around other penetrations, such as plumbing and electrical penetrations, not only keeps the items off the inspector’s list but may have the highest cost-to-payback ratio of any maintenance you can do. You would not want to leave a window open year round but that is what a poorly sealed home can be compared to with regard to your comfort and energy cost. While you have that caulk gun warmed up make sure that the caulk in wet areas, such as the tub/shower, is keeping moisture in its place.

Another example where maintenance adds to the comfort/ salability of the home is the heating system. Along side the water heater, heating systems are arguably the most taken for granted systems in today’s home. Heating systems should be inspected and adjusted annually by a qualified HVAC technician. Debris build-up in the burner chamber can alter the fuel-to-air mixture and reduce its efficiency. A failure in the furnace may cause high levels of Carbon Monoxide (CO) in your home, so have it maintained regularly. Write the service date on a card by the system. If your heating system is over 10-15 years old, the payback to replace it with a more efficient model may be in the two- to three-year range.

Roofs are another overlooked area in many of the homes I visit as a home inspector. Just because the roof isn’t leaking doesn’t mean that it doesn’t need maintenance. If you have a fear of heights or even lack experience working at heights, this will be something you want to have performed by a professional. Leaking roofs can cause damage to the interior of the home which may cost more to repair than the roof repairs. Even worse, undetected or ignored roof leaks may contribute to bio-organic growth such as mold and mildew. Flat roofs need maintenance every two years or less and if your roof is pitched, sealing around the roof’s penetrations should be done every two years. The sun we so love here in the southwest sends UV rays that are as harmful to some roofing components as they are to our skin. Use sunscreen and maintain your roof.

Another energy-saving and safety-related issue is the dryer vent in your home. A clogged dryer vent can add substantially to the energy cost to operate your home. Some claims I have read indicate that it may cost an additional $15.00 a month to dry your clothing if the dryer vent is full of lint. More importantly, clogged dryer vents are a leading cause of home fires. After cleaning the vent, replacement of the plastic flexible vent extension that extends between the dryer and the wall vent is also recommended. The metal extensions have less resistance than plastic, and may help contain a fire if one should occur. The new expanding metal dryer-to-outside vent extensions also allow you to place the dryer closer to the wall without crushing the vent extension.

These are some great starts to a proper maintenance program for your home. Added comfort, reduced energy cost, increased salability of your home--three great reasons to start today. If you need some help learning how to do some of this maintenance, search the Internet to find some specific how-to sites. A great site for energy tips can be found at http://www.pueblo.gsa.gov/cic_text/housing/power-smarts/

Information provided by:

WIN Home Inspection Paul Norris
Certified Real Estate Inspector
P.O. Box 15758
Rio Rancho, NM 87174
(505) 892-5599 -Rio Rancho
(505) 466-7243 Santa Fe
www.wini.com

Contact Paul Norris for your next Home Inspection

ALBUQUERQUE HOME AUCTION! 12014 Sullivan 87114

2008-12-07T10:43:00.000-08:00

Auction Date: 12/10/2008 at 10:00am
Starting Bid: $99,000

12014 Sullivan Albuquerque, New Mexico 87114 2019 squarefeet, 3 bedroom Pueblo Style home, built about 10 years ago we believe by Sivage Thomas. Property sold as is, on site. Property will be open for viewing 12/10/2008 at 8:00am if you have not gotten the opportunity to view during the open houses. Property has great views of Sandias from upstairs dayroom and balcony, enclosed front porch and 2 glass fireplaces that pass through mastersuite to masterbath and from living room to dining room. Kitchen has breakfast nook that has sliding glass doors to patio and coy pond. Mastersuite has seperate door to a back patio and is on the main floor. Large Celestory windows and high 18ft ceilings in living room.

You must:

Register online 48 hours prior to auction at http://ushomeauction.com
Bring a $5,000.00 cashiers check made out to yourself.
A personal check for any earnest money overages etc.
Close on the property within 30 days
Bring proof of funds or letter of prequalification from a/your mortgage lender or contact Ana Lisa Cordoba D.L.Cline Mortgage 379-8722 or Charel & Shawn Lock Legacy Mortgage 792-7648 (more information on http://www.buyahousenewmexico.com/custom/mortgages.htm
All Inspections must be completed on the property prior to auction there will be no access to property until after Title closing.

Great Government Giveaway

2008-11-25T13:03:00.000-08:00

I was watching the financial news today, my mind finally gave up trying to wonder where and how much of "OUR MONEY (or our grandchildrens money)" was now going to which wall street firm or bank and to bailout who.

Citigroup got how much?

Wells Fargo I wouldn't come knocking anytime soon after the merger with Wachovia since the top ten executives are getting $98.1 million in compensation as part of a severence package.

So exactly what is the running number of how many Billions of Dollars we are "Giving Away" exactly what are the terms of getting any of this money back?

Well in the spirit of giving instead of writing a check to your local Wall Street CEO or other corporate executive I recommend these charities:

ROAD RUNNER FOOD BANK
2645 Baylor SE
Albuquerque, NM 87195
Donate online: http://www.rrfb.org/
To Donate Time: Christina Berlin (505) 247-2052

American Red Cross
142 Monroe NE
Albuquerque, NM 87108
http://www.redcross.org
(505) 265-8514

Habitat For Humanity
204 San Mateo
Albuquerque, NM 87108
http://www.habitat.org
(505) 262-0057

Remember also to shop with our affiliates all the money raised is going to help the midwest mississippi river flood victims from earlier this year until December 31, 2008:

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Enjoy Black Friday and remember houses make a fantastic holiday gift or a anytime gift I have yet to find one person that has not been happy to receive a house as a gift, give Jordan or I a call and we will help you pick out the perfect house.

"No one ever looks a gift house in the mouth!" LOL!

Happy Holidays!
William Staab & Jordan Knecht
Abaris Team

Albuquerque Foreclosures

2008-10-27T15:27:00.000-07:00

Most of the calls we have been receiving lately everyone wants to get in on those great foreclosures everyone has been talking about. Well purchasing a R.E.O. (Real Estate Owned)bank property or a foreclosure can be the way to go but you do have to realize that these homes were left in what ever condition by the previous owner. If you are handy with a set of tools or have a few extra dollars to spend when you first move into the home a foreclosure or REO Bank owned property can be ideal for you.

Foreclosures can be found in all price ranges around Albuquerque although I am not 100% postive that Abaris Team William Staab & Jordan Knecht represent the highest priced foreclosure in town (if you find one higher I would be glad to post it on this sight) but 13416 Desert Zinnia is definetly close at $1,139,000.00 MLS#634738(as of today posting date). Foreclosures in any price range are usually priced below a recently appraised value which the bank or Government agency has done before the home is placed up for sale. Sometimes you can benifit from a significant equity grab at the time of the purchase.

Some of the downfalls of a R.E.O. or foreclosure is that there is usually no past history of the property of who or how it was built. The property is also conveyed by Special Warranty dead rather than by General Warranty Deed. A Special Warranty Deed means that the chain of title goes back only as far as to the issuer not on the entire history of the property. You also have to be flexible in time to close on the property which normally takes 45-60 days to close rather than the typical 30 days for a normal transaction. Finally you will be responsible in most cases to accept the property as-is the bank or government agency will not make any repairs for you or allow you to make any repairs until the property has funded and closed. In some H.U.D. auctioned homes an escrow may be held until the repairs are completed on the property to meet the standards of F.H.A. Loan standards (for more information on FHA Loan programs call AnaLisa Cordoba at D.L.Cline mortgage (505) 379-8722).

Since Abaris Team William Staab & Jordan Knecht represent alot of R.E.O. Bank owned properties by all means keep those phone calls coming! But unlike other parts of the country the economy hear in Albuquerque is stable and I truely hope no one is forced into foreclosure in 2009; and we do not have to list any homes in short sale, bank owned, or foreclosure but from happy home sellers!

Visit our affiliates and until December 31, 2008 all proceeds go to the Mississippi / Wisconsin River flood victims from earlier this year:

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Wall Street Journal Dart Board Contest

2008-10-14T15:06:00.000-07:00

Yes! That's me in the 33rd Wall Street Journal Dartboard contest. I am honored to be chosen for my pick of Rangold Resources Ltd.(GOLD) Follow along in the Money section of the Albuquerque Journal or the Wall Street Journal for the next six months on sunday to see how my stock performs along side the other picks.

I hope alot of you got the opportunity to attend the Albuquerque Balloon Fiesta, i attend every year and hope someday to have my own balloon in the event.

Remember to visit our affiliates to help raise money for the Mississippi River Flood victims:

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Federal Bailout

2008-10-05T11:58:00.000-07:00

With the passage of the Bill signed into law on friday October 3, 2008 for the Wall Street and Banking crisis in the amount of $700,000,000,000.00 plus an additional $140,000,000,000.00 for earmarks I think with those earmarks you could build a bridge to nowhere everywhere or in every state.

I would really like to see how you would spend your $700,000,000,000.00 comment on this blog email this to your friends family and co-workers. I am excited to hear your responses.

I would give $233,000.00 to every man,woman,baby that is an american citizen to use to purchase a home, pay off credit card debt, purchase an IRA or 401K plan for retirement savings, pay for college, remove everyone from the welfare roles, or pay for surgery medical bills for those that have no insurance.

$840,000,000,000.00 divided by 305,000,000 million americans = ....you do the math??

America's Financial Bailout

2008-09-22T12:14:00.000-07:00

First let me say, I severly doubt the bailout is going to be enough to stabilize the market through the election in November, I actually think we should see some more activity to the down side in about 2-4 weeks. But then again what do I know?

I first mentioned in February 2007 the closing of ResMae & Fremont Bank and the begining of the subprime mortgage mess. I told you in January 2008 in the "It's a Wonderful Life" article bad times were coming. I wasn't quite expecting it in September but October came early.

I watched the Emmies last night and always get emotional during the "In Memorium" segment so although it is not the end of the year I think it is only fitting through this crisis we say goodbye to some financial companies we know and loved in 2008:

Failures:
Douglas National Kansas City,MO January 25, 2008
Hume Bank Hume, MO March 7, 2008
ANB Financial Bentonville, AR May 9, 2008
First Integrity Staples, MN May 30, 2008
Indy Mac Pasadena, CA July 11, 2008
First National Bank of Nevada Reno, NV July 25, 2008
First Heritage NewPort Beach, CA July 25, 2008
First Priority Bradenton, FL August 1, 2008
The Columbian Bank & Trust Topeka, KS August 22, 2008
Integrity Alpharetta, GA August 29, 2008
Silver State Bank Henderson, NV September 5, 2008
Ameribank Northfork, WV September 19, 2008

Bankrupt or Bailed out on Wall Street:
Bear Stearns
Lehmann Brothers
Freddie Mac
Fannie Mae
Merrill Lynch
AIG

We are all waiting on the bailout plan which is expected to cost 700 billion dollars (only the latest bailout this does not include the earlier Bear Stearns and mess). I hope whoever is elected on November 4th, 2008 will stop rewarding Wall Street and company CEO's for their bad behavior at the expence of the shareholder and American taxpayer.

What does this mean for you if you are looking to buy a home? Low interest rates, large amount of home inventory to choose from, falling home prices nationally although only very slightly in Albuquerque. Jordan and I keep hearing "We want to wait until the prices fall some more" Holding off to buy that home may not be the best idea. Currently home buyer down payment assistance programs are going away. In the future you may not be able to qualify for a home loan under future conditions without putting 25% of the purchase price down for example. You may need a credit score of 760 or above or other examples. The market also may never go down. We all hear about the un-ethical Realtors, Mortgage Lenders and Home Builders that got us into this mess (rather than the truth up at the Fed and Wall Street) but not much of that around here in Albuquerque where the foreclosure rate is 951 to 1 verses San Bernadino, CA where the ratio is 60 to 1.....?

I truely believe now is the right time to buy a house if you are looking for a home to live in, can afford the mortgage payments, and can qualify. I also believe it is a good time to sell your house especially with a top notch Real Estate company like Coldwell Banker Legacy and Realtors like William Staab & Jordan Knecht! Our philosophy is to help guide you in making a wise Real Estate investment decision regardless if it is your first and ever only home or the begining of your Real Estate empire!

Do you like all the BuyaHouseNewMexico Flyers, Mailings and Business Cards? Then check out this website: http://www.SoundBoxGraphics.com

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Fannie Mae & Freddie Mac Bailout

2008-09-06T13:18:00.000-07:00

Chairman of the House Finance Committee Barney Frank (Dem)-MA has confirmed that the government will step in to bail out ailing companies Fannie Mae & Freddie Mac who have lost over 14 billion in the last 4 quarters.

Initial speculation of a takeover sent share prices plummeting after close of Wall Street on Friday. The potential cost to tax payers is estimated at somewhere around 25 Billion.

Both CEO's Daniel Mudd of Fannie Mae & Richard Syron of Freddie Mac are expected to resign.

It is unknown at this time just how the restructuring will take place.

Ordinarily I would not comment or provide an editorial on the effects of this bailout but lets just see if in hind sight I will be correct or not:

Joe Shareholder of Fannie Mae & Freddie Mac....Thanks for playing but your investment portfolio is now worthless.

CEO's and other corporate executives of Fannie/Freddie, exercise your stock options, retirement packages and balloon payments and walk away with millions & millions of tax payer dollars.

Reminds me of the Savings and Loan Scandals of the 1980's and the Keating 5 (refering to Charles Keating that ran Lincoln Savings and Loan) who were suspected of corruption.

John McCain R-AZ
Dennis DeConcini D-AZ
Alan Cranston D-CA
Donald Riegle D-MI
John Glenn D-OH

The Savings and Loan scandal lead to 747 Savings and Loans going under a complete collapse of the FSLIC and a cost to taxpayers of 124 billion dollars. Lincoln Savings & Loan and parent company American Continental Corporation went bankrupt on April 14, 1989. Close to 21,000 elderly and Senior investors lost most off their life savings totaling nearly 285 million dollars.

Footnote: Senators John McCain & John Glenn were cleared of all allegations.

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Albuquerque's 4th Annual Salsa Festival Queen

2008-08-18T09:43:00.000-07:00

Congratulation's to Ana Lisa Cordoba of D.L. Cline Mortgage for winning the Albuquerque Salsa festival competition with her "Momma's Mango" Spicy Salsa.

Ana Lisa Cordoba
6000 Uptown Blvd
Albuquerque, NM 87109
(505) 379-8722

Call her for your spicy Mortgage today!

Prequalify with her right now on our website:

http://www.BuyaHouseNM.com on the pre-qualify page in the left hand column.

Ana Lisa made 7 1/2 pounds of Salsa at the festival to win the prize.

to inquire home to get some of that winning Salsa contact Ana Lisa at:

analisainc@yahoo.com

1 Cent Shipping Sale! Don't drive, get online now! Ends 8.25.08">

Existing Home Sale Prices in Albuquerque

2008-07-31T08:23:00.000-07:00

Existing home sales prices in Albuquerque has shown very little change over the same month (June) as last year. The average home price in Albuquerque in June 2007 was $254,298 while it was $248,375 in June 2008 an over all decrease of only 2%. However the median home price rose from $201,500 to $203,500 or just under 1% giving a healthy indication of the overall market. the median home price measures the middle of the market regardless of size or price and is not warped by a glut of inventory in one particular spectrum of the housing market. (Information provided by G.A.A.R Greater Albuquerque Association of Realtors)

While this is overall good news for home sellers, the total supply of homes for June of 2008 is 6,428 with 738 homes selling, it translates to a nine month supply of homes or an average of nine months to currently sell a home. (Individual neighborhoods vary greatly from this number in some neighborhoods homes are still selling in fifteen days or less.) Traditionally in August more homes enter the market so we might actually see a slowdown to a supply of ten to eleven month supply.

Abaris Team has had a constant supply of inventory of homes for sale this year and has a turnaround average of about 65 days!

If you are in need of an Oil Change, Tune Up or Brake Job go see Carlos at:

E & J Automotive
1401 Fourth Street NW
Albuquerque, NM 87102
(505) 242-6778

They just opened up a few weeks ago on 4th Street at the corner of 4th Street & Kinley 3 blocks north of Mountain. They were quick, and provided excellent service at a unbelievable price!

Shop with these BuyaHouseNewMexico.com affiliates and save BIG:

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Coupon Code: AUG75

What in the World is Title Insurance?

2008-06-28T09:01:00.000-07:00

What in the World is Title Insurance?

Did you ever wonder “What in the World is Title Insurance”? This is a common question we are asked by Purchasers, Sellers and Realtors in a transaction. Below is some information that will help answer that question:

What is Title Insurance?
Title Insurance differs from other categories of insurance. Auto, Homeowners, and Fire Insurance require you to pay annual premiums because, unlike Title Insurance, they expect you to make claims periodically throughout the life of the policy. Title Insurance, however, is risk elimination insurance, and requires that you pay a one time premium ONLY.

Risk Elimination
Title Insurance is designed to protect you from being subjected to any unforeseen surprises. The first step to guaranteeing your protection is a title search. By investigating all county records on your property, a title search can verify the seller’s right to transfer ownership, locate any claims, assessments, errors, or miscellaneous defects on the property and virtually eliminate the risk factor for the buyer.

Your Protection
Title Insurance is your safeguard. It can save you trouble, time, and money. It acts as a shield to guard you against potential claims brought against your property. If your ownership becomes threatened by any claim covered in your policy we will negotiate to settle the claim and if necessary defend your title in court.

Title Policy
After the recording, First American Title will issue you a Title Policy. Your policy will guard you against certain risks such as:
Errors: Incorrect information on deeds, public records, etc.
Liens: Unpaid mortgages, taxes, sewer and water assessments,.
Ownership: Outstanding spousal interests, or interests of missing heirs in an estate.
Invalid Deeds: Transfer by former seller who did not actually own the property, or who were not qualified to convey the property.

Why First American:
First American Title Company is one of the top leading title agents nationwide. At First American Title we have experienced Escrow Officers who specialize in all areas of the Real Estate market to guarantee you and your clients are provided with exceptional customer service.

Should you have any questions about title, escrow, or the closing process, please feel free to call me anytime. I am happy to help you in any way that I can.

Norma Giaquinto
Escrow Officer
505-881-3300 Office
ngiaquinto@firstam.com
http://sw.firstam.com/nm

Article contributed by Norma Giaquinto for http://www.BuyaHouseNewMexico.com visit our website for great savings from these home improvement companies:

I'm facing foreclosure what should I do?

2008-06-14T15:20:00.000-07:00

With all of the Media speaking about foreclosures, and statistics about rising foreclosures what do you do if you are sitting in the postion of facing foreclosure yourself?

You might consider selling your home, even if you are 2-3 months behind on your mortgage payments and a Lis Pendens has been filed against your property does not mean with an experienced short sale agent like myself or Jordan Knecht; a good short sale Realtor can not help you avoid foreclosure all together. Although your credit score will suffer temporarily it is not as permanent as the black mark of a foreclosure or bankruptcy.

The first step is to determine where you are at and start negotiations with your mortgage holder to negotiate a settlement if there is no equity in the property.

If there is equity in the property, you are better off selling and breaking even than to lose everything in the foreclosure. You can loose your home and be liable for shortfall from the sale of your home by the bank and court costs, and finally your credit rating; alot of people do not consider this to be a loss but consider what you will pay to borrow money in the future for a car, on a credit card, furniture and even another home?

Jordan Knecht and myself have spent our spring saving 3 clients from foreclosure, we also have 3 REO Bank owned properties obviously from people who did not avoid foreclosure. In New Mexico you have by law a 120 redemption period to redeem the property out of foreclosure but most mortgages have clauses in the mortgage that waive your right of redemption to thirty days.

But let me get back to one of the costs of foreclosure with this example:

You owe $180,000 on a home appraised at $200,000.00 you are late 2 mortgage payments but the bank has not filed a Lis Pendens a legal document giving notice that an action or proceeding is pending in the courts which affects the title to the designated property. You place your home up for sale and your agent negotiates a sale at sale price, great! Sign the papers and close quickly!

You owe $180,000 on a home appraised at $200,000.00 you are late 2 mortgage payments but the Bank has not filed a Lis Pendens. You receive an offer for $190,000.00 your agent negotiates the short sale for you with the bank you break even and walk away with 2 late mortgage payments on your credit history which have been repaid.

You owe $180,000 on a home appraised at $200,000.00 you are late 2 mortgage payments but the Bank has not filed a Lis Pendens. You do nothing and the bank forecloses, adding another $5,000 for court costs and puts your home up for sale at current market price of $200,000.00 they get an offer of $160,000.00 because in the meantime the market has declined and the appraisal is now $188,000.00 They sell the home leaving you $20,000.00 on your loan, $5,000.00 for the court costs and the closing costs of the sale of your home $12,800. You can still owe the bank around $37,800 on the loan for a house you can no longer live in? (bank may write off the lose but they may not.)

Even if the home in the example above goes up in value chances are it will not recover the $37,800.00 in costs and you will still be responsible for the amount to the bank.

Facing foreclosure is not where anyone wants to be; but even if you think foreclosure is inevitable call us or your Realtor to see if the situation can be avoided. You can blame the mortgage mess, rising fuel costs and inflation, but anyone can find themselves in foreclosure because of unseen events or illness we are here to help you with every Real Estate need!

With the recent tradegy in Iowa and my own home state of Wisconsin the monies generated by the ads on this blog and www.BuyaHouseNM.com will be donated 50% to Habitat for Humanity and 50% to The American Red Cross for the remainder of 2008.
As we have learned from Katrina the recovery will be a long and slow process so help us by clicking on the ads up to 10% of your purchases will go to help these charities.

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Real Estate Can Be Fun

2008-05-13T08:09:00.000-07:00

A client bought a new home and the broker wanted to send flowers for the occasion.
They arrived at the home and the owner read the card; it said "Rest in Peace".

The owner was angry and called the florist to complain. After he had told the florist of the obvious mistake and how angry he was, the florist said. "Sir, I'm really sorry for the mistake, but rather than getting angry you should imagine this: somewhere there is a funeral taking place today, and they have flowers with a note saying, "Congratulations on your new home".

Does your Agent give you 100%?:
12% Monday
23% Tuesday
40% Wednesday
20% Thursday
5% Friday

A real estate agent walking along the beach found a bottle. When he rubbed it, lo and behold, a genie appeared.
"I will grant you three wishes," announced the genie. "But since Satan still hates me, for every wish you make,
your rival gets the wish as well -- only double."

The real estate agent thought about this for a while. "For my first wish, I would like ten million dollars," he announced.
Instantly the genie gave him a Swiss bank account number and assured the man that $10,000,000 had been deposited. "
But your rival has just received $20,000,000," the genie said.

"I've always wanted a Ferrari," the agent said.
Instantly a Ferrari appeared. "But your rival has just received two Ferraris," the genie said.
"And what is your last wish?"

"Well," said the salesman, "I've always wanted to donate a kidney for transplant."

I hope some of this humor can take a little seriousness off all the Real Estate Stories out lately, but if it doesn't remember: "You are unique just like everybody else!" enjoy some savings at our affiliates:

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Should I shop for a house now or wait till the prices drop more?

2008-04-30T09:40:00.000-07:00

If you are in the market to purchase a home now, shop for a house now. If you are paying rent to a landlord the money is going to the landlord not to you. If you are thinking about gaining more space read further down my blog to the article entitled about a tide raising all ships.

Even as the news media talks about higher foreclosures, and mortgage lending crisis, the real crisis is whether you can now qualify for a loan you could have 6 months ago but now have to put at least 5% down. The financial burdens of rising energy costs both gas and electricty (at least in Albuquerque with PNM's 6% rate hike) and rising food prices, eating away at your family budget.

Why would this be a great time to buy a house? Perhaps a 10 mile shorter commute to work or shopping. Maybe a energy saving new home or smaller home. Maybe that child is on the way and you need more space.

Whatever the factor, waiting until prices drop is about the same as putting off surgery until the hospital puts it on sale. The perception of the market continueing to drop in the future is the same as trying to predict who will win the world series as of tonights baseball game. So far even in this economic housing climate, home prices have not fallen but remained steady in the Albuquerque metropolitan area with a slight decrease only in Rio Rancho. The number of HUD foreclosures and bank REO's (some that I have represented) have not risen all that much in our area.

So my answer to the question is if you are thinking about buying a home call us and we'll find you a home. We work with fine mortgage lenders like Ana Lisa Cordoba at DL CLine Mortgage (505)379-8722(see mortgage page of http://buyahousenewmexico.com ) that will help determine if buying a home is right for you. We can help educate you to determine if it is the right financial decision for you.

We also would like to say goodbye to our affiliate with Country Inn and Suites while short lived we hope our customers were able to take advantage of the great savings they offered but you can still use our contract with:
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Remember our BuyaHouseNewMexico.com special for our customers who are relocating from outside the Albuquerque area. Purchase a home with us and upon closing we will reimburse your hotel stay up to 3 nights ($69.99 per night maximum) at one of our participating affiliates (and.or off rental cars or airfare)if the reservation is booked through our relocation page or from this blog.

New Mexico Sales History

2008-04-21T09:10:00.000-07:00

1123 Williams Albuquerque 87102 2008 69,500 Seller
9500 Adina Lane Albuquerque 87114 2008 204,900 Seller
8908 Sawgrass Albuquerque 87121 2008 164,000 Seller
916 Finch Albuquerque 87121 2008 103,500 Seller
8112 Sapphire Albuquerque 87121 2008 122,000 Seller
4926 Palo Alto Albuquerque 87108 2008 165,000 Buyer
6 Glitter Gulch Edgewood 87015 2007 335,000 Seller
7022 Arrington Albuquerque 87105 2007 197,000 Seller
2628 Rushing Rd Albuquerque 87105 2007 116,000 Seller
517 Espanola St Albuquerque 87108 2007 186,400 Seller
1225 La Charles Albuquerque 87112 2007 181,000 Seller
6212 Picture Rock Albuquerque 87120 2007 200,000 Seller
2800 Vail Avenue Albuquerque 87106 2007 42,000 Buyer
9619 Puccini Trail Albuquerque 87114 2007 165,000 Buyer
4704 Franzen Hills Rio Rancho 87144 2007 225,000 Buyer
737 Valverde SE Albuqueque 87108 2006 550,000 Seller
214 Alcazar NE Albuquerque 87108 2006 79,000 Seller
1032 Country Manor Albuquerque 87114 2006 249,500 Seller
1135 Green Acres Bosque Farms 87068 2006 335,000 Buyer
2323 Mountain Rd Albuquerque 87104 2006 282,000 Buyer
3817 Tulane Albuquerque 87107 2006 131,000 Buyer
8604 Gunnison Albuquerque 87120 2006 190,000 Buyer
1809 Moneda Albuquerque 87120 2006 158,500 Buyer
2821 Vista De Colinas Rio Rancho 87124 2006 220,000 Buyer
721 6th St Rio Rancho 87124 2006 210,000 Buyer
908 Foraker Rio Rancho 87124 2006 155,000 Buyer
860 Vista Patron Rio Rancho 87124 2006 289,900 Buyer
6208 Katson Albuquerque 87109 2005 210,000 Seller
6020 Downey Albuquerque 87109 2005 174,000 Seller
1704 Halo Circle Rio Rancho 87124 2005 155,000 Buyer

Six houses sold so far this year! Will your house be next? We are up for the challenge! Call us today to see why we SELL Houses not just list houses!

BuyaHouseNewMexico.com special savings for customers (& future customers):

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Sell Your House Faster with a Home Inspection

2008-04-06T08:57:00.000-07:00

Your house has been listed, you have removed all the clutter, cleaned the windows, removed personal items, cleaned the carpets and listed with a Realtor but your home hasn't sold; consider getting a home inspection.

Every Seller dreads the home inspection. Nobody wants to find out they need to replace the motor in the evaporative cooler or reseal all the roof flashings; but having a home inspection up front can save alot of time and hassle in the closing process and may even save the contract!

40% of real estate transactions fall apart over disputes arising during the home inspection. Having repairs fixed or at least identified can help your listing sell. Why? Having the home inspection completed before the buyer writes up a contract can give the buyers peace of mind to know that the property is in good condition up front rather than discovery after the contract is written.

Buyers may walk away after that duct inspection or unlightable fireplace pilot; but a simple fix upfront could close the deal and not delay the buyers from moving in.

Contact Abaris Team for a list of home inspection companies and enjoy these savings from our new affiliates:
10% off Westhollow Laminate Flooring. Expires 43008 (click to redeem)

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Abaris Team Welcomes Jordan Knecht

2008-03-30T07:19:00.000-07:00

Abaris Team - William Staab is proud to announce that Jordan Knecht has joined our Team. Jordan brings with her over 10 years of residential real estate experience including serving on the Greater Albuquerque Association of Realtors (GAAR)formerly the Abuquerque Metropolitan Board of Realtors (AMBR) on the professional standards committee and the Ethics committee from 2001-2007. Jordan is also a graduate of UNM.

Abaris Team is always striving to make your real estate experience buying or selling a home, simple, easy and stress free. We have negotiated contracts and savings for our customers; we are pleased to announce Lumber Liquidators, Radisson Hotels, & Country Inn's & Suites to our list of companies that provide discounts to BuyaHouseNewMexico.com customers:

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Sell Your House

2008-03-22T10:51:00.000-07:00

Have you been thinking about selling your home and moving into a bigger one but are concerned about the mortgage industry and temporary housing crisis?

Consider that a rising tide raises all ships! If you stay in your current home that is valued at $200,000.00 vrs buying that home with the extra bedroom you need or 10miles closer to work at $300,000.00 when the overall Albuquerque real estate market increases say by just 10% as it did a few years ago the difference in apreciation would be $10,000 and with gas approaching $4.00 a gallon that extra 10 miles to work adds up to an additional savings per year of $650.00 (based on average mileage of 20m to gallon 10miles each way. That's an extra $10,650.00! Say that $300,000.00 home drops 10% over the next few years it doesn't matter if your not interested in selling? The Albuquerque real estate market has traditionally increased in value over a long period of time, just as the stock market has for the last 163 years.

Abaris Team believes in helping you make wise financial decisions that will help you and your family achieve your investment goals. Thats why we would not represent clients that chose unscrupulous lenders with questionable business practices. That is why our clients are not worried about making a mortgage payment next month because we would not push you into a home or mortgage payment you could not afford. Generally our rule of thumb is to try to find the cheapest house that fits your needs and go up in price if it is not to your standards other than showing you the home you can barely afford and go down.

With the increase of REO bank,VA, and HUD and forclosures there will be real bargains out their and sell your house for $190,000.00 rather than $200,000.00 now, and get the extra bedroom/space you need rather than wait for the market to turn around.

In the mean time you can save big at our http://www.SellYourHouseNewMexico.com partner Overstock.com:

Free Shipping on Kitchen & Dining at Overstock.com! Offer valid 3.24.08-3.25.08.

Extra Space Storage

2008-03-05T07:06:00.000-08:00

Dear Clients,

I have negotiated a contract with Extra Space Storage located at 141 Airport Rd, Albuquerque, NM 87121 conveniently located at Central and Coors begind the Smiths grocery store and close to the Unser & I-40 interchange.

Your first month's rental is FREE! just email:

fac0817@extraspace.com

Mention BuyaHouseNewMexico.com or Abaris Team William Staab & Jordan Knecht with Coldwell Banker Legacy for this great discount.

Here are some great savings with Sky Auction you can also find on the Relocation kit page of BuyaHouseNewMexico.com under links page of relocation related services to save you on travel to Albuquerque or anywhere:

Airfare Auctions

"It's a Wonderful Life" & The Stock Market

2008-01-17T20:46:00.000-08:00

Dear Readers,Customers & Future Customers,

I'ts after Christmas and of course the classic movie "It's a Wonderful Life" with Jimmy Stewart,Donna Reed & Lionel Barrymore will go into the archives until the holiday season comes around again.

Today the stock market closed below what it began at in 2007 wiping out our entire nations economic growth, and it may not be over. Signs of the impending mortgage woes still looming (Sheer amount of fraud still yet to bear it's head; but I'll go into that later)even good news from the government today did not change the downward spiral.

Which gets me to my point,as the credit card hang-overs from the holidays loom, remember the special people in your life. Call five friends tomorrow and tell them how much you love them, like after 9/11. (I had just gotten a job selling 21 day tours through Pakistan, Afghanistan & Northern India...no...I am not joking that is actually true!) The people in your life are important the rest is just stuff and if you were selling tours to Pakistan also or a victim to the tragedy; you would agree its all stuff!

Things are going to get alot tougher out there before they get better but remember if you love your house and your not selling in 5 years stop worring what it's worth, if you weren't planning on selling your stocks keep them or buy more. Ironically with both Real Estate & Stocks people buy,buy,buy, while prices go up, but the time to buy is when it is on sale and going down like you would at any retail store?

So remember the quote from the movie by Mr. Potter(Lionel BarryMore to George Bailey (Jimmy Stewart)"Remember George during the depression you & I were the only ones who kept our heads; you saved the Building & Loan & I saved everything else"

My fascination with "It's a Wonderful life has some other strange twists, I used to work for Xerox delivering paper on a golf cart around the studio and at my lunch on the street depicted in the movie, I thought someday maybe I'll be in a movie (I am now upcoming Hamlet2, and Love Ranch filmed here in NM).

The other Ironic twist is my very first customer and home I ever sold was that of a woman named Mary Hatch (Donna Reeds character in the movie) I love her dearly for allowing me the opportunity to have such a wonderful career, and will never forget what a wonderful lady she was.

Treat your friends to a relaxing stay at:

Save up to 50% on Last Minute Fares at Hotwire!

Attention Buyers!!!! HGTV is looking for House Hunters for the TV Show!!!!

2008-01-10T21:43:00.000-08:00

Return to bulletin board listings

Title: Casting Call: House Hunters (HGTV)
Date: 01-10-2008
Url: http://www.hgtv.com/hgtv/shows_hnt
Info: House Hunters takes viewers behind the scenes as individuals, couples and families learn what to look for and decide whether or not a home is meant for them. Focusing on the emotional experience of finding and purchasing a new home, each episode shows the process as buyers search for a home.

In need of buyers for this show. Buyers must be willing to be filmed for 4 to 5 days in a row.

Date: January 22, 2008
Location: TBD
Time: TBD

Looking for those who are looking to buy a home in the Albuquerque market. People of all ages and types.

Please e-mail: buff5448@aol.com or call Michael at (505) 620-7653

Call me!! I would love to work with you on this project!

Presidential Election

2008-01-07T15:56:00.000-08:00

Many of the pundits, journalists, and other reporters about the 2008 housing market have not considered the political climate of this election year so let me be the first. I was one of the first bloggers to speak about the impending mortgage crisis and glad I can warn my customers and others in advance of financial catastrophe, I try to surround myself with the absolute best people in the industry here in Albuquerque like Coldwell Banker & Stewart Title.

My personal opinion about the 2008 housing market slowdown is also do to the presidential election, with the uncertain direction this country might be going customers seem to be holding off making a decision on such a large purchase which is not a good sign for home sellers or home builders. I understand it is not foremost concern, but it is a factor.

We all have concerns about the current economy, but the true reality is the mortgage interest rates are extremely low, even if you are not considering buying a home refinancing into a fixed 15 or 30 year mortgage can save you 1000's of dollars monthly. You can play around with the mortgage calculators on www.BuyaHouseNewMexico.com and determine if this would be a good savings for you.

Call AnaLisa Cordoba at CW Mortgage (505) 379-8722 to see what interest rate you could refinance to today and enter it into one of the 5 mortgage calculators.

But if you are thinking about buying a home call me and I can help you decide if buying a home right now is the proper decision for you. With home prices falling and interest rates low; now is the time to buy a home (I just did in December and sold my old one in 37 days!). Think about it with this example:

Would you go into the Department Store the day after the sale ended, when all the stock has been picked over like during christmas & then charge it on your credit card when they just raised your rate by 10%? No, so you shouldn't buy a house that way either!

Buy houses while they are on sale not when they are going up $10,000 every month like they were last January!

Not ready to buy a house try valueline:

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What Albuquerque Housing Crisis?

2007-12-03T09:21:00.000-08:00

The Albuquerque housing market is still appreciating. It's still a good time to invest in a home!

Copy and paste the link below in your browser for the full article, especially pay attention to 1year statistics at bottom of page:

http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Hope you find this information useful! Provided by:

Leanne Sperry

Escrow Officer

Stewart Title of Albuquerque, LLC

1316 Jackie Road, Ste. 300

Rio Rancho, NM 87124

(505) 798-2222

(505) 892-1770 - Fax

During this holiday season also check out these great savings from:

Shop inventory blowout prices for home improvement

Hudson Reed, An Online source for High Quality Faucets, Showers, Shower Panels and Towel Warmers.

OverStock.com Thanksgiving Day Sale!

2007-11-22T07:42:00.000-08:00

I want to take a moment to share how grateful I am to all my customers, friends and family, and all the wonderful people I have met during the last year!

It has been a great year, for me in Real Estate! I hope this will continue into 2008. The Founding of our Democratic Realtors group (for those that don't know our RPAC lobby money was given to a specific candidate to help there run for congress, claiming all Realtors endorsed this candidate when we did not; and do not want it to happen again or given for any candidate) So we get together 2 times a month and cook a homemade meal for everyone, then we donate $10 to go directly to the New Mexico Democratic Party of a particular county that is pulled out of a hat every week. This has also helped build strong bonds across company lines and different areas of the Real Estate community and strengthen knowledge among all its members.

The greatest thing about this business is you get to meet people from all over the city, and country and have the opportunity to know them by the end of the transaction. I am thankful you have made this a rewarding and very successful career for me!

I also wanted you to have this special offer from Overstock.com for the Black Friday sale:

Black Friday Product Deals from Overstock.com! Valid 11.22.07 to 11.25.07

Home Dynamix: Natalie Collection starting at $22.00.

Fuller Brush...FREE Product with every order!!

What a Great Gift! Buy a Home for Christmas!

2007-11-14T11:48:00.000-08:00

Thinking about buying a home? Why not? Interest rates are low, Inventory is up (allowing a greater selection for you to choose from, at better prices) and why continue to pay rent (paying someone elses mortgage)?

Ok, so the subprime market has you worried, how do you know if 10 houses on the block you purchase will not foreclose? What about the Presidential election, Gas Prices and the over all Economy? SO WHAT! Everyone needs a roof over their head? (at least most people), are you better off paying $700 month rent to a landlord or $700 to yourself/mortgage? The overall economy will always have issues, the Pundits talking about the housing woes will always be there, however the current market values of the homes will not.

So take the first step today, contact Shawn or Charel Lock at Legacy Mortgage 792-7668 or apply online at www.LegacyMortgageNM.com/clock tell them you are working with me and if we have you in your new home by Christmas we will pay for the Credit Report & Underwriting fee ($300 value)!

I will even put a big bow on your new front door!

If not try shopping at one of my many Affiliates like Overstock.com:

Watches by Movado at savings up to 80% from Overstock.com!

MLS Upgrade - Buy a House New Mexico .com

2007-10-31T11:55:00.000-07:00

Dear Clients,

The Albuquerque Board of Realtors is upgrading their MLS (Multiple Listing Service) to a new web host. This may cause service outages in the search features of www.BuyaHouseNM.com, www.ColdwellBanker.com, www.CBLegacy.com, www.Realtor.com, www.Homes.com and others.

This outage should occurr between November 1 - 8th, 2007 We will work to correct this integration issue with www.BuyaHouseNewMexico.com as quickly as possible, thank you for using BuyaHouseNM.com and Abaris Team for your Real Estate Needs.

Abaris Team - "Your Golden Arrow to Success"

Hear is a great offer from Identity Guard:

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World Statistics Clock

2007-10-04T08:41:00.000-07:00

I cam across this website that has some interesting information I thought I would share it with you:

http://www.poodwaddel.com/worldclock.swf

Check out this great fall offer from one of my personal affiliates Park Seed:

$10 off $60 Order at Park Seed-with coupon code October10 during checkout.

Albuquerque & the US Mortgage Woes

2007-08-18T05:16:00.000-07:00

Dear Chicken Little,

The sky is not falling, although belts are tightening and the mortgage industry is shaking out some shoddy players, loans are still available; you might need better credit to qualify, put at least 5-10% down but this is a great time to buy a home, prices are falling on the west side and Rio Rancho, builders are offering huge incentives.

Just like the stock market,buy low sell high, traditionally the albuquerque market goes through 8 year cycles, and overall appreciation of a rate of about 3-4% in the last 20 years there have only been 2 years of devaluation 1988, & 2002 in 2002 it was only.03% so even though we may see a decline this year, overall Albuquerque is a great place to own a home.

When I first started to warn you of the impending mortgage crisis back in February of 2007, I did not foresee the actual number of companies closing and the tightening being this widespread (Worldwide) and paniced. Reminds me off the Junk Bond Market collapse in the 1980's and the Savings & Loan debacles that threw alot of babies out with the bath water. Lets hope this crisis will stablize so home buyers and sellers can once again breath a sigh of relief.

Contact these fine lenders with stable financial stability to see if you qualify for a home loan or for more mortgage related questions or prequalify right online at www.BuyaHouseNewMexico.com:

AnaLisa Cordoba - Pennington Financial (505) 379-8722
Charel Lock - Legacy Mortgage (505) 792-7668 (owned by Coldwell Banker Legacy)
Bernice Gentry - Legacy Mortgage (505) 858-3834
Yvonne Lara - Wells Fargo Home Mortgage (505) 298-7684

Credit Scores

2007-08-09T08:12:00.000-07:00

Wanted to share with you a real story that just happened to me recently. I was contacted by a Bill Collector for an old phone bill from 1997 that I didn't even realize was not paid. I went into immediate panic, you see I am currently buying another house and moving; the last thing I want is my credit score to plummet. The debt has never shown on any previous credit reports. The collector said "There were 2 payments of $78.10 then they just stopped. (because I paid 1 in the office and the same bill again by mail). Yes I owed the $349.09 which by the way tacked on after the phone was shut off from various long distance companies thanks to a really bad roommate.

My credit rating was still intact, but recent changes with the mortgage industry have left the days where stated income folks like myself can no longer get a loan on just credit rating alone. I think if I had waited just another month to buy a home, the program I was given will be gone.

Protecting and improving on your credit score can significantly increase the likelyhood of qualifing for a loan and at a cheaper interest rate. Especially for buyers without proven job and income histories.

Now saving to buy a home when you need to put 5%-25% down is out of most peoples reach in Albuquerque with the median home price of $210k and Rio Rancho at $234k you would need savings of $15k just to close the deal!

If you are thinking about buying a home talk with your mortgage professional or try one of these fine proven lenders:

Todd Hohmann - First Heritage Mortgage - 505-875-3498
Charel Lock - Legacy Mortgage - 505-792-7668
Ana Lisa Cordoba - Pennington Mortgage - 505-379-8722
Vince Garcia - Countrywide Home Loans - 505-816-1765
Mike Gonzales - RPM Lending - 505-401-5318

Here is another great deal from a vendor I negotiated a contract with enjoy these savings:

Gardener's Supply Company - Huge Summer Sale - Save up to 63%!

False Product Endorsements

2007-07-02T15:26:00.000-07:00

I have recently discovered my name being used to endorse companies I have never endorsed. I have never endorsed Perfect Wealth Formula or any other "Get Rich Quick Real Estate Scheme" My current and past clients know, I always work in their best interests to help them choose a wise investment.

Products I do endorse you will find links to here on my blog and relocation page on my website such as:

Overstock .com
Lowes Home Improvement
Enterprise Rental Car

It is flattering however to think that these website think so highly of me they can plaguerize me and miss quote me!

Albuquerque Slow Housing Market?

2007-05-20T09:27:00.000-07:00

While the average number of homes currently listed in the MLS system is at a high of 6067 compared to the 4200 for sale last year, buyers have a wider selection to choose from and can be more picky.

The market is not slow, I have closed 3 transactions of over $600k this month alone, While my entire office (Cottonwood/not all of Coldwell Banker Legacy) closed over 84 transactions & $64M. Same number of buyers have a larger inventory of resale homes, and new construction to choose from but we still have the same amount of buyers as last year.

The key in this market is to ensure that when a agent takes a buyer out to view a home (6-9 in a day) that your home is one of the first 6 they visit, not one of 50 they may have to choose from. The average buyer will select a home within the first 25 houses they visit, surely you do not want your home to be 26th on their list? The way Abaris Team - William Staab market to agents and to buyers always strives to achieve this goal. Not only to get your home shown; but to get your home sold!

Enjoy these great spring deals from these great companies:

10% off on Gardening Supplies at Gardener's Supply Company!

LandscapeUSA.com

Save 15% Off Entire Order at Park Seed - Enter Coupon Code JUNE15 at Checkout. Hurry Offer Expires June 30,2007 SAVE NOW!!

Garden Accents from Plow & Hearth

In answer to some email questions, yes AbarisTeam - William Staab does receive a financial gain if you buy through these links here on the blog or on the relocation page of www.BuyaHouseNM.com to help keep this website running and provide additional savings/services to our customers. I William Staab will continue to negotiate contracts with companies that will help my customers save money during the moving / selling process!

Vacation: April 25-May1, 2007

2007-04-23T09:12:00.000-07:00

Although the way Mike Magallon & myself William Staab work as a team and make sure that one of us is always available to take your call or to show you houses. We will both be on vacation from April 25-May1, 2007. We will answer emails; but will not be available to show properties in the Albuquerque area. For Immediate attention contact Coldwell Banker Legacy at (505) 898-2700 and speak to the available agent on duty.

We are enjoying our great vacation do to the negotiated contracts I have with the companies on our relocation page. I negotiated these contracts to help your move be as cheap and as effortless as possible.

Logon below to enjoy these deals:

Ramada - Get Our Best Available Rate or Your First Night is FREE!

$1 Starting Bid Travel Auctions

Save 50% on your weekend rental at Enterprise.com. Great Cars. Low Rates. Most Cars. Most Weekends. Most Neighborhood Locations.

We hope to be working out some more contracts to help with moving costs in the near future with a albuquerque storage facility and moving van company soon!

Buying Forclosures / Bank Repo's / HUD's

2007-04-11T11:05:00.000-07:00

Buying a foreclosed property or HUD's (nickname) directly can be a challenging process waiting through the auction period. There are also restrictions who can buy first, disaster victims, Police Officer's / School Teachers , Owner Occupant's and finally investors. also not necessarily always the best value. The Department of HUD has been offering Foreclosures at almost the same price as what the market will bare or just slightly under not leaving much room to fix up and flip. But a great value to a Police Officer or Teacher who can purchase the property at 50% of the value.

Bank Reposessions on the other hand are easier to acquire (usually a 45-60 closing) because banks don't care about the market they want to get the money back for the defaulted mortgage loan as quickly as possible.

I have been a HUD Trained Agent for 2 years now, I believe we are going to see an increase in the number of Bank Repo's / Foreclosures in Albuquerque in the next year. Both of these type of Investments both to occupy or to "flip" can be great investments.

To help fix up those floors in your new forclosure look at this great deal I made with Orangeglow:

Orange Glo Hardwood Allura Floor Care System - The Easy Way to Brighter Floors. Shop Now!

Subprime Mortgage Market

2007-03-29T02:34:00.000-07:00

Even though we may see a bit of a change in the Mortgage lending market this is no cause for alarm.

Buyers in this current market have been saying to me, "I don't want to buy now and then face foreclosure in a few years" Well do you pay $600 in rent or more per month? In a few years will you be facing eviction instead of foreclosure? You could be using your mortgage payment as a tax deduction but with rent you cannot.

You can also look in to products like 40yr mortgages which will help ease the burden with lower payments or Interest only loans that do not carry a balloon payment after 10 years.

Contact AnaLisa Cordoba with Pennington Mortgage for answers to these questions and find a loan program that works best for you (505) 883-5153

Another great deal from FastFloors:

Rubber Flooring: A safer choice for children's playgrounds. Sold exclusively at FastFloors.com

New Mexico & Albuquerque Real Estate update

2007-03-08T08:44:00.000-08:00

Looks like home sales in the SW section of the city are hot right now, Anderson Hills and other new projects seem to be changing the perception of this area of the city. With Tessla Motors, Temperpedic Mattress & Eclipse Aviation in the next few years all located off Paseo Del Volcan this area should continue to see a dramatic rise in home prices.

Currently it looks like a bit of a Slowdown in Rio Rancho with homes between $250K-$350K of the 221 homes for sale only 15 went under contract in February of 2007.

Continueing to bring deals for all aspects of the home sale and make www.BuyaHouseNM.com a more rounded and goto website I am continueing to negotiate deals for clients check out this latest one from Hudson Reed Home Faucets & Fixtures:

Hudson Reed Summer Sale Now On.

When is the Best Time to Sell?

2007-02-25T06:52:00.000-08:00

Although Albuquerque and Rio Rancho real estate markets continue to sell all through the year. Most people do not realize that 75% of the transactions will take place from the 2nd week of January through the end of May. As other home sellers see the price of their property rising, the market gets flooded with homes through July, August (parents want to sell before the kids change schools) that buyers have alot more inventory to choose from. Although Doomsdayers like Good Morning America and others have been predicting a bust in the Real Estate bubble last fall this has not happened. In Albuquerque with traditionally stable home prices this has not accured at all. When is the Best time to Sell? Whenever you are ready!

Another contract negotiated by Abaris Team with Luggage Online: Enter LSACTV to receive 10% off & Free Shipping when you shop online (excludes TUMI & Brigg's & Riley) Below:

Up to 70% off Samsonite's 550 SeriesUltra 3000

Fears of Delinquency have Subprime Lenders tightening their belts.

2007-02-19T09:11:00.000-08:00

With the recent filing for bankruptcy of Ownit Mortgage Solutions a major subprime lender in December a steady stream of mortgage lenders including, Wells Fargo & Washington Mutual bank have tightened up their underwriting rules.

The trend continued downward last week with the filing for bankruptcy of ResMae Corp out of CA, & Fremont; this may mean that Home Buyers with impaired credit will face higher rates in the months ahead.

Quoting AnaLisa Cordoba of Pennington Financial (see financial page www.BuyaHouseNM.com for more info): "My concerns are with my clients with blemished credit to be able to find financing at all. The days of the zero down payment maybe coming to an end."

Will Mortgage Bond investors head for the hills in the subprime market with the rising delinquencies? Time will Tell.

Park Seed is Having a $1 Seed Sale!

Contracts & Other Goods & Services

2007-02-05T08:07:00.000-08:00

Did you know that www.BuyaHouseNM.com & Abaris Team - William Staab have negotiated contracts with major online companies to save you money on your home purchase or related services needs. On page 2 of our relocation page you will find many travel, hotel, & moving discounts or check out the bottom of this blog for savings from Ramada Hotels, & Overstock.com. We also in upcoming Blogs will be featuring other companies we have contracts with since we do not have room on the website and do not want it to appear cluttered but check out savings from:

Orange Glo Hardwood Allura Floor Care System - The Easy Way to Brighter Floors. Shop Now!

P.I.D.'s -Hidden Tax Increases - What you need to know:

2007-01-15T08:04:00.000-08:00

Recently, a Ventana West re-sale customer contacted Stewart Title because their
property tax bill was increased by $506 dollars. Jeanine Dodson a Stewart Title
Escrow Officer, jdodson@stewart.com, researched and found that $506 will be
charged yearly for the next 30 years to pay for municipal infrastructure and public
services and is called a PID (Public Improvement District).
Jeanine's information comes from Mitchell Mosesman at (800) 969-4382, mmossesman@taussig.
com who is Senior Vice President of David Taussig & Associates, Inc. www.
taussig.com. He specializes in the use of land-secured bonds to finance public
infrastructure in California, Illinois and New Mexico.
I contacted Phil Rodriguez, Property Tax Exempt Specialist, pmrodrigue@bernco.gov of the
Bernalillo County Assessors Office, www.bernco.gov for a public list of other new
construction subdivisions that are passing their infrastructure costs onto
potentially unsuspecting re-sale buyers. He could only refer me back to Mitch
Mossesman.
Pauline (949) 955-1500 of David Taussig & Associates explained that new
construction purchasers are given a disclosure of this 30 year lien but she is not
certain if re-sale purchasers are given any disclosure or if any public record exists
of which new subdivisions are using this 30 year additional tax to pay for their
roads, parks and landscaping. She is only currently aware of Ventana West and
Cabezon and suggested I obtain a title package or tax record to find out which
other builders are using this method.
I explained to her of the cost involved in obtaining a title package and of the near
impossibility of online tax records for new construction especially in Rio Rancho.
(I've checked title packages from Cabezon and they do not disclose
this lien. Approximately $400 to $500 is for roads and parks, etc and $67 to $100
is for maintenance. This cost is dictated by the number of homes in the
subdivision.)
New construction subdivision builders will increasingly use this pass-along
method that is not reflected in the purchase price of the new home. Re-sale
buyers especially need to know of this additional 30 year tax burden. There needs
to be a legal disclosure document for re-sale buyers in these communities.
Ignorance may not be enough of an excuse for what has the potential to become
a future dispute or claim by the re-sale purchaser.

Forbes Ranks Albuquerque in Top 10

2006-12-29T08:18:00.000-08:00

Albuquerque's placement on the latest national list comes courtesy of the metro area's resilient real estate market. The Duke City ranked third nationally on a list published Thursday by Fortune magazine listing the "top 10 places to own real estate."

The Fortune report, with analysis provided by Moody's economy.com and real estate valuation company Fiserv Lending Solutions, highlights the top markets where real estate values are expected to rise in 2007 and 2008.

Albuquerque, with a median home price of $179,620, is expected to see home values increase by 5.9 percent in 2007, according to the report on Fortune's Web site. Albuquerque was ranked first among cities in the western United States.

"I think it's an indication of what happens to real estate values . . . when you have substantial and growing job growth" said Jim Folkman, executive director of the Home Builders Association of Central New Mexico. "I think New Mexico is being discovered. It's our time in the sun, if you will."

The report shows that 36 of the country's top 100 biggest markets are expected to see price declines, according to Fortune's Web site. For 2008, that number is expected to rise to 37.
The continued increase in Albuquerque home values might be surprising to some, considering the saturated state of the local real estate market today. There were 4,363 homes available in the Albuquerque area as of Dec. 10 - nearly 93 percent more than the 2,263 from the same day one year ago.

Cathy Colvin, friend and Coldwell Banker Legacy Associate, who chairs the Albuquerque Metropolitan Board of Realtors, said home prices locally have risen gradually while hot spots like Arizona and Nevada saw meteoric increases. Because of that, it isn't likely Albuquerque area home values would suffer drastic drops in valuation, she said.

"We don't think we've peaked yet," Colvin said.

"I also agree, with markets like Rio Rancho & Los Lunas leading the way." William Staab.

(exerpts from article in Albuquerque Tribune 12/22/2006 by Erik Siemers)

Median Home Price for Albuquerque New Mexico

2006-11-14T07:22:00.000-08:00

As of October 2006 the average median home price for the city of Albuquerque is $223,000 an increase of $39,010 or 21% from October of 2005. The same can be said for Rio Rancho's median home price for October 2006 is 271,650 an increase of $49,195 or 22% over the same period last year.

More Mortgages = Better Credit

2006-10-08T10:55:00.000-07:00

Consumers carrying a mortgage have an average credit score of 713, 55 points higher than the average score of those with no mortgage, finds a study by credit reporting company Experian Consumer Direct. Consumers with two mortgages have an average credit score of 739, 81 points higher than the score of those without. Experian has not suggested a reason for the difference but said, "Although consumers with mortgages have on average...more debt...they seem to be keeping their credit in check despite the additional financial responsibility," Says Ty Taylor President.

New Mexico State Fair & Balloon Fiesta

2006-09-08T11:22:00.000-07:00

It's that time of year again for the New Mexico State Fair, located right in the heart of Albuquerque, with the high inventory of exisiting homes now averageing 4900 per day (increase of 1900 in six months) it doesn't look like that number may do down anytime soon. Very hard time of year for open houses and marketing campaigns. However the Albuquerque Visitors and convention bureau still is averaging about 380 persons per month inquiring about moving to the Albuquerque metropolitan area every month. Have fun at the State Fair, and Don't miss the Balloon Fiesta!!

Albuquerque Blog Open Forum

2006-08-27T10:06:00.000-07:00

I would like to have people respond to this blog to tell horror stories, ask questions and receive advise regarding the real estate market in Albuquerque, and surrounding areas. Hopefully as this blog grows, visitors and clients alike will gain helpful information, great tips and additional ways to save money! You can also join our Google Group at www.Google.com

Rio Rancho Homes

2006-08-13T10:28:00.000-07:00

The number of new housing units available for the Rio Rancho houseing market is reaching an all time high in August of 2006. The overall picture of the greater Albuquerque houseing market still looks bright, even though it has temporarily cooled. With the addition of Mesa del Sol project getting under way 90,000 new residents will be added to the community over the next 50 years. Also the announcement of a new city being planned to the west of Albuquerque on the Rio Puerco will add an additional 70,000 people to the region. I will provide more information regarding this new community as I learn more about the master plan.

Albuquerque Houseing Market

2006-08-06T08:02:00.000-07:00

Signs are all around us now that Albuquerque housing market has begun to slow. There are currently a daily average of 4600 homes on the market at any given time up 1400 from 3 months ago. Although some areas are slower than others, the recent rains we have had; have out of state home buyers rethinking about buying in Belen and Rio Rancho, and reconsidering such areas as four hills, and parts of the NE heights. Although I see this as a temporary slowdown the fact remains it is taking on average about 45-50 days to sell the average home another hike in the gas prices, and rise in interest rates the first time home buyer has to consider if they can afford a home or even a townhome condaminium for that matter.

Albuquerque Home Sales

2006-07-17T08:25:00.000-07:00

Looks like the Albuquerque metropolitan area home sales are finally starting to cool off. The average weekly inventory of 2800 homes for June has swelled to about 4200 homes for July. The average number of days a home is sitting on the market has also been slowing. D.R Horton, Austin TX home builder announced lower earnings expectations from lack of demand in new home sales.

Houseing Market Balancing out.

2006-07-08T08:19:00.000-07:00

The U.S. housing market has reached a balance in buyer and seller demand, according to a survey released Thursday, with 41 percent of participating real estate agents saying they had more buyers and sellers, 40 percent saying they had more sellers than buyers and 19 percent reporting a 50-50 balance.
The most notable exceptions are in the Northeast, the Chicago metropolitan area and in the Western states, according to the survey from HouseHunt. Home buyers outnumber sellers by considerable margins in Chicago and the West, while sellers outnumber buyers in the Northeast.
The second-quarter national survey also found:
Fifty-six percent of member agents said it is now taking, on average, more than 60 days from listing to contract to sell a house. This is up from 55 percent in the first quarter and 35 percent a year ago. Twenty-eight percent said it is taking more than 90 days to contract. Only 15 percent of existing homes are selling in 30 days or less.
Housing inventories are continuing to increase: 86 percent now report a good supply in virtually all price ranges. This is up from 81 percent in the first quarter and 38 percent a year ago.
Sixty-six percent of member agents reported that annual home-price appreciation is now 5 percent or less. This is down from 8-10 percent a year ago. Home-price appreciation of more than 10 percent is now 16 percent, on average.
The percentage of home sellers getting 95 percent or more of asking prices is currently 68 percent, compared with 90 percent a year ago. Three months ago it was 75 percent.
First-time buyers still account for one of three home sales nationwide. Repeat and move-up buyers are most active in higher priced markets. Recent home-price appreciation and rising mortgage interest rates has had only a minimal negative effect on first-time buyers, on average, with the exception of marginal qualifiers.

The Albuquerque Inventory of homes has risen from an average of 2800 homes in the first quarter of this year to 4100 homes as of july signaling a slight cooling off of the recent buyer frenzy.

Marketing Your New Mexico Home.

2006-06-19T11:01:00.000-07:00

So, you have decided to sell your home. Should you sell it yourself or find a Realtor?

Selling your own home has several advantages, saving money on the listing commission and knowing who is coming into your home. But several disadvantages such as time, doing open houses, making yourself available to show. Cost of signs, advertising and other marketing, and possibly the expense of a real estate attorney. Do you really save all the money on the listing commission not really general "For Sale by Owner Buyers" bid well under the asking price, knowing you are not going to be paying a commission.

Discount Brokers are another option that will for a fee put your listing into a multiple listing service or discount a portion of their commission. From my experience you see alot of expired listings after the 90 contract or even six month contract expires because putting your home in the MLS system does not mean it will automatically sell. Why? although agents are required by law to show all potential buyers all potential properties for sale the properties that will get shown first are those that pay the agent the highest commission. Alot of discount brokers who take a listing just to get the listing try to pass on this lowered commission to the buyers agent. So in reality if there are 30 houses currently to show on the market, the listing paying the highest commission to the agent are going to be shown first.

Even Full Service Brokers can vary the amounts of products and services they offer, the more marketing and advertising the more chances to have multiple buyers and most important multiple offers. Take for example the for sale by owner that only places there sign in front of their home but does not advertise in any other way. The buyer must happen to pass buy that street, must actually stop to see the home, then decide to buy. This does not allow the buyer across town, across the state, or the country the ability to even know the home was for sale. On average we personally have been averaging $18,000 above the regular asking price of the home because we market aggressively.

However you decide to sell your home, the process should be profitable, painless, and easy.

Nations Home Inventories rising by 60%

2006-06-13T07:15:00.000-07:00

The number of existing homes listed online for sale in the largest 100 metro areas in the nation grew 60 percent from May 2005 to May 2006, according to an analysis of homes listed online at the Realtor.com property-search site.

The survey, conducted by Corzen, a real estate research firm based in New York City, found that the inventory of homes listed in these metro areas grew from 1.3 million in May 2005 to 2.3 million in May 2006.

Median list prices were up 8.4 percent from May 2005 to May 2006, while "in some parts of the country … median asking prices showed steep declines, a clear sign of softening with the real estate market," Corzen announced today.

However markets like San Antonio, El Paso, & Albuquerque home sales continue to increase, current inventory for the Albuquerque metropolitan area is down about 300 units from the same time last year.

Albuquerque Homes market is HOT!!!!!!!!!!!!

2006-06-02T15:58:00.000-07:00

Upon reading several news articals including CNN Money about the hot markets in the country Albuquerque, NM is among the top. for full article follow this link:

http://money.cnn.com/2006/05/12/real_estate/reguide_moneymag_albuquerque_0606/index.htm

2006-05-29T07:38:00.000-07:00

Loan Applications Down - Not in New Mexico!

2006-05-24T14:15:00.000-07:00

Mortgage application volume was down last week as interest rates declined on long-term mortgages, according to the latest survey from the Mortgage Bankers Association.

The market composite index, a measure of mortgage loan application volume, was 552.6, a decrease of 6 percent on a seasonally adjusted basis from 588 one week earlier. On an unadjusted basis, the index decreased 6.2 percent compared with the previous week and was down 23 percent compared with the same week one year earlier.

The seasonally-adjusted purchase index decreased by 7.1 percent to 396.4 from 426.7 the previous week whereas the refinance index decreased by 4.3 percent to 1480.5 from 1546.8 one week earlier

Inflation and the Interest Rate

2006-05-12T10:26:00.000-07:00

Just when the Fed stated yesturday they probably were not going to increase Interest rates any higher, they will have to. With the high costs of gasoline, businesses can no longer absorb the fuel delivery costs of their wholesale items and will have to raise there prices. Can the Fed keep Inflation in check? Time will tell? my personal opinion is no.

Forbes: Albuquerque Best Place for Business!!

2006-05-06T13:02:00.000-07:00

Forbes announced yesturday that it has ranked Albuquerque as the Best Place for Business and Careers in the United States. AED Chairman of the Board Carolyn Monroe said "these are exciting times in New Mexico and a significant achievement for our community and state. This ranking is a testament to the incredible partnership that exists between thepublic and private sector, and to the collective effort of so many people working to improve our business climate. We express our thanks to Forbes, and to the Governor and Legislature, Congressional Delegation, Mayor and City Council, County Commission and Manager, and to other partners of ours within the region. Additionally, we come to this point through the investment, risk and vision of so many business leaders who have made a difference for our economy and for our citizens. Our future has never lookedbrighter."

To See The News Release from Forbes Ctrl +Click: ALBUQUERQUE, NEWMEXICO TOPS FORBES' 8th ANNUAL BEST PLACES FOR BUSINESS AND CAREERS SURVEY

CBOE - Chicago Board of Options Exchange

2006-05-04T19:14:00.000-07:00

Announced in March the launch of housing futures contracts using NAR's monthly existing home sales data. These contracts are based on the direction of home prices either nationally or regionally. These contracts will allow, homeowners, lenders and home builders a chance protect investments with the same strategies as Wall Street investors.

SellYourHouseNewMexico Website

2006-04-03T08:19:00.000-07:00

BuyaHouseNewMexico, SellYourHouseNewMexico and BuyLandNewMexico websites are currently under renovation and will be down until about April 7th, 2006. We are updating the content, creating 360 pages of user friendly information and creating for our clients a more enjoyable web experience, please visit us when we return or post your comments here...

Average Albuquerque Home Price

2006-04-03T07:50:00.000-07:00

Did you know the average home price in Albuquerque was $184,365 in 2005 but already in 2006 that number has grown to $207,144 for the first quarter of this year? 53 homes sold above the $400,000 price range.

2006-02-27T09:25:00.000-08:00

Housing Market takes a 5% dip in January 2006, but over all for the western states we saw a 11.3% increase in Sales after a 6.3% rise in December. Will this trend continue with the interest rates currently 6.26% expected to rise this year?

Remodel or Not to Remodel?

2005-12-18T08:29:00.000-08:00

How do you decide if you should remodel that kitchen or bathroom before you decide to sell? Well on average the cost to remodel a bathroom is $9705 in Albuquerque but you will recoup $9773 on average giving that bathroom remodel statistic of 100.7% a good idea. As for the kitchen? a small remodel job average is $14,333 with a resale value of $14,825 a cost recouped of 103.4% But replacing those single pained windows for thermal double pained recoups the most dollars of 111.1% !!!! (statistics provided by remodeling magazine annual 2005 report for Albuquerque).

November Housing Market

2005-11-05T19:41:00.000-08:00

Currently the Albuquerque housing market has showed no signs of slowing up this winter, still only an active inventory of 2900 resale homes in the whole metro area (not including for sale by owners), and more talk on the new proposed Mesa Del Sol project and other new homes construction projects.

Real Estate Happenings Albuquerque

2005-09-28T12:35:00.000-07:00

Hello my name is William Staab welcome to my Blog. This Blog is intended to be a forum for everyone interested in Rio Rancho, and Albuquerque metropolitan area real estate. If you have questions regarding Albuquerque Real Estate, or the home buying process, I will try to answer it here and provide useful home information, tips and statistics. Or if you would like to ask me a question directly you can email me at: info@buyahousenewmexico.com or visit my website: www.SellYourHouseNM.com.

2005-09-28T11:31:00.000-07:00