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

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:
">



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

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):

">

Sell Your House Faster with a Home Inspection

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)


">

Abaris Team Welcomes Jordan Knecht

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:

Bellawood Prefinished Hardwood Floors with Certified 50-Year Warranty at Lumber Liquidators

Best Online Rate Guarantee.  Get our best rate guaranteed or your first night is 25% off!

Best Online Rates at CountryInns.com

Sell Your House

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

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

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!!!!

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

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:

Warren Buffet calls Value Line, "An incredible value! I don't know of another system that's as good." Outperforming the DOW by 18 to 1 over 41-years -- we've delivered 23,211% gains for investors in our portfolio of #1-ranked stocks. Click Here to try this legendary stock-picking system for 13 weeks!

Invest with confidence in small and mid-cap stocks with the Value Line Investment Survey Small & Mid-Cap Edition.  Click here.

What Albuquerque Housing Crisis?

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!

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!

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

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:

Is your personal information really protected? Find out with IDENTITY GUARD®

World Statistics Clock

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

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

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

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?

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

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

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!