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.
Sunday, April 18, 2010
Thursday, March 25, 2010
Last Post for Albuquerque & Rio Rancho Real Estate Buzz
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
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
Monday, January 18, 2010
Beazer Homes in New Mexico
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
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
Saturday, January 09, 2010
2010 Economic Forcast
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!
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!
Tuesday, January 05, 2010
Albuquerque Westside Housing Statistics
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:
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:
Monday, December 28, 2009
Year End Decade End Summary
It's that time of year again when the news media assembles a montage of news clips events and things they reported about in 2009 and the last decade that we all remember or have forgotten or in alot of cases would like to forget or never really cared about in the first place.
Hopefully someday the news media will go back to being just that news. In the mean time it is refreshing to gain information, converse with people via blog websites, and social media networks such as facebook and twitter. The priveledge of being able to blog and provide hopefully for my readers valuable little tips of information about buying and selling a home or other things to think about when planning for your financial future.
Ok, so back to my montage, what has happened here in Albuquerque Real Estate over the past year? Well I don't need to tell you home sales overall are down. The number of foreclosure and short sale properties are up, and alot more people have gotten behind on their mortgage payments and are in the process of being foreclosed or trying to short sell. But the silver lining is: ALBUQUERQUE AND RIO RANCHO AS A WHOLE ARE ALOT BETTER OFF THAN THE REST OF THE COUNTRY! Albuquerque is not immune to the outside forces of the overall Real Estate market or the problems in the mortgage industry. But Albuquerque also for the most part did not participate in the large boom (bubble) either. Traditionally at least since 1980 the average price of an Albuquerque home has risen by 3-4% per year. So five years from now when we look back at 2008-2011 we will probably see that over all Albuquerque and Rio Rancho has prospered from a healthy overall economic climate and stability.
Best wishes in the New Year! If you or anyone you know is looking to buy or sell Real Estate in 2010 give me a call! Happy New Year!
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!
Wednesday, December 16, 2009
Real Estate Statistics Southwest side of Town
So its December, nobody wants to look for a house during the holidays right? Wrong, placing your home up for sale in a traditionally slow time for Albuquerque Real Estate has an advantage, fewer homes for sale and less competition. Right now with the First Time Home Buyers tax credit of $8,000 and historically low interest rates, it may be one of the best opportunities to buy a home in years.
Lets take a look at the Southwest section of town where you can find alot of newer built homes with east access to Freeway, close to Petroglyphs National Park, country living in the South Valley along the Bosque and dynamic views of the Sandia Mountains. The Areas used for the example are Areas: 90,91,92,93 Bordered by Central Avenue to the north, The Rio Grande River, Bridge, and the I-25 freeway to the east, I-25 and the Isleta Indian Reservation to the south, and the West Mesa to the west.
Currently there are as of this writing today, 504 active listings for sale in this area, 116 homes are currently pending and 76 have closed in the last month. This means there is currently a 6 month supply of homes to be sold. Of those homes here is a breakdown of the actual price range:
0-100,000 = 44
100K-150K = 242
150K-200K = 162
200K-300K = 37
300K-500K = 23
500K-700K = 9
The lowest priced home is $49,000 and the highest priced home is $700,000.
Ok, but why then is December a good time to sell a home? Of those 76 homes that sold last month 62 were between 100K-200K, there are 396 homes to look at and the average home buyer looks at 12-25 homes before they decide to purchase. In most of the price ranges, chances are they will look at your house, between 100K-200K maybe 1 in 6 will look at your home. But compare that to February, March, and April when more homes are on the market, can be almost 40% higher, the chances of your home being seen are slimmer with so many homes to choose from.
Well ok, I understand all the home selling stuff and yes December looks like a good time to put my home up for sale but I am a home Buyer how does that help me?
You have the time to shop for a home, calculate if the monthly payment is right for you, pre-qualify for a mortgage, spend all day calling William to send you more information on properties, and scheduling appointments to see them. You have historically low interest rates around 4.7-5%, a first time home buyers tax credit of $8,000 or a home buyers credit of $6,500 if you decide to move into another, larger or similar home and have lived in your current home for 5 years. A professional Full Time Realtor who will walk you through ever step of the process, from paperwork, home inspections, title companies, and moving services.
And most of all? Peace of mind, that you made the right choice to buy a home!
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!
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