Albuquerque Real Estate News: November 2007

13th Annual Holiday Shop & Stroll in Historic Nob Hill: "Over 50 shops and restaurants along the Nob Hill business district participating in the spirit of the holidays. Central Avenue will be closed to cars from Girard to Washington. Get all of your early holiday shopping done in one area."


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Space For Rent In Building Where Microsoft Was Born - The Channel Wire - IT Channel News And Views by CRN and VARBusiness: "Bill Gates and Paul Allen once got their kicks in a brick office building located just off Route 66 in eastern Albuquerque, across the street from the New Mexico State Fairgrounds. Now any company able to pay $83,000 for 1200 square feet of office space with two rest rooms can set up shop in the building where Microsoft was born. "

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People who flip Albuquerque homes for quick resale find they have to slow down : Local : Albuquerque Tribune



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More than 3,800 metro area homes rise in 12 months - New Mexico Business Weekly:: "Despite the slowdown in the new home construction market, 73 percent of the permits issued to central new Mexico homebuilders in October were for homes priced $150,000 and above. Despite the slowdown in the new home construction market, 73 percent of the permits issued to central new Mexico homebuilders in October were for homes priced $150,000 and above. "

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Albuquerque - Convention & Visitors Bureau - 2007 City of Albuquerque ABQ RIDE Luminaria Tour: "Mayor Martin Chavez and ABQ RIDE Director Greg Payne are pleased to announce the upcoming 2007 Luminaria Tour. The event will take place on the evening of December 24th and tickets will go on sale Friday, November 23rd, 2007. "


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ABQ retail stayed on a positive track in Q3 - New Mexico Business Weekly:: "Albuquerque had a positive absorption rate in the retail real estate sector in the third quarter of 2007, according to CB Richard Ellis's just-released third quarter MarketView report. The review by the Albuquerque commercial real estate firm points out that the absorption rate was positive during the quarter even though the city lost 92,000 square feet of tenant occupancy when two Raley's Superstores closed after Albertson's bought out the chain. Albuquerque had a positive absorption rate in the retail real estate sector in the third quarter of 2007, according to CB Richard Ellis's just-released third quarter MarketView report. The review by the Albuquerque commercial real estate firm points out that the absorption rate was positive during the quarter even though the city lost 92,000 square feet of tenant occupancy when two Raley's Superstores closed after Albertson's bought out the chain. "


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Twinkle Light Parade Steps Off Saturday, November 24th - Official City News: "The TWINKLE LIGHT PARADE is the City of Albuquerque's kick off to the holiday season, and a the highlight of the Thanksgiving weekend. The Twinkle Light Parade lights up at 5:15 p.m. on Nov. 24 at the intersection of Central Avenue and 3rd Street. Click here for additional information. When: 5:15 p.m. Saturday, November 24th Where: Parade starts at Central Ave. and 3rd Street, proceeds west on Central Ave. to the Aquarium/Botanic Garden (Central Ave. and New York)"

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Albuquerque Biological Park-City of Albuquerque: "From November 24 through December 30 (closed Dec. 24 & 25), Rio Grande Botanic Garden visitors can enjoy the magic of hundreds of thousands of twinkling lights and dazzling holiday displays at New Mexico’s largest walk-through light show. All sculptures and displays are designed and constructed by Albuquerque BioPark artists and craftsmen. "


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Want to pass along the Good News for the progress and development of Rio Rancho! The two votes which would allow CNM –Central New Mexico Community College – to begin construction in the City Center area of Rio Rancho both passed soundly. CNM plans to begin construction on a $20 million facility they intend to use jointly with UNM. Below is a quote from a local news source…..

“Homeowners outside of the current tax district who live just north of Northern Boulevard approved CNM’s consolidation effort, giving what city leaders believe will be a shot in the arm for the development of the new downtown area built around the Santa Ana Star Center and city hall. CNM and the University of New Mexico, as part of the campaign to woo voters, promised to build a $20 million joint facility nearby with success in Thursday’s vote.”

Hooray… CNM has already laid the groundwork for their 40 acre campus with the land secured and $20 million ready to go for construction. They have plans to break ground soon.

Because of a landmark partnership between CNM and the University of New Mexico, the first CNM campus building in Rio Rancho would offer UNM courses when it opens in January 2010. A "2+2" agreement between CNM and UNM will allow Rio Rancho students to take the first two years of a UNM bachelor's degree through CNM. This would greatly reduce the cost of a UNM degree because of CNM's well-known commitment to low tuition and high-quality instruction.

What does this mean for our Rio Rancho land owners and buyers…we think great things, as the more developed the downtown becomes, the more services they will need and the more people will want to live and work there.

All the best,
Tracy

Tracy Venturi
WelcomeHomeABQ Team - Realtor®, Associate Broker

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Voters allow CNM to expand to Rio Rancho : Local : Albuquerque Tribune: "Voters in Albuquerque and Rio Rancho have overwhelmingly agreed to expand the Central New Mexico Community College district into northern Rio Rancho."

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Albuquerque event calendar - Albuquerque events - Albuquerque calendar of events: "Discover the darker side of Old Town by the light of the full moon! The popular Ghost Tour of Old Town held at a spooky late night time with new legends & lore surrounnding the moon and superstitions. "


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Rio Rancho Land Sales Statistics - November 13, 2007

• Active: 3034 - This is all active Rio Rancho Lots for sale.
• Pending: 65 - All Rio Rancho Lots that are under contract, but have not closed yet.
• Closed: 323 - This is fir the past 6 months.
• Avg days on market: 119 days - Past 6 months closings.
• Avg sale price: $39,749 - Past 6 months closings.
  

What does this all mean??? Buyers have many choices and some great values can be found. As a colleague of mine put it... IT'S BARGAIN-PALOOZA OUT THERE!!

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Labels: Rio Rancho Land

NAR: Modest Recovery for Existing-Home Sales in 2008 as Credit Crunch Subsides: "LAS VEGAS, November 13, 2007 - A modest recovery for existing-home sales is expected in 2008 as the impact of the credit crunch subsides, while pending home sales indicate near-term stability, according to the latest forecast released here today at the National Association of Realtors® Conference & Expo.LAS VEGAS, November 13, 2007 - A modest recovery for existing-home sales is expected in 2008 as the impact of the credit crunch subsides, while pending home sales indicate near-term stability, according to the latest forecast released here today at the National Association of Realtors® Conference & Expo."

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NAR: NAR Puts Housing Market in Perspective: 2007 will be the Fifth Best Year on Record:

"LAS VEGAS, November 13, 2007 - What a difference five years makes. That’s the point made by NAR economists and practitioners in today’s Economic Issues and Residential Real Estate Business Trends Forum at the National Association of Realtors® 2007 REALTORS® Conference & Expo. LAS VEGAS, November 13, 2007 - What a difference five years makes. That’s the point made by NAR economists and practitioners in today’s Economic Issues and Residential Real Estate Business Trends Forum at the National Association of Realtors® 2007 REALTORS® Conference & Expo. "

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The Observer Online: "CNM campus will attract businesses to the area Much has been written and stated regarding the upcoming CNM district expansion ballot, which is due on November 15th. On behalf of the Rio Rancho Regional Chamber Board of Directors, we encourage voters to choose “YES” on their ballots. No position our Board takes is done so without research, due diligence and discussion. This issue was no exception. After sincere deliberations, the Board voted unanimously in support of this issue. "


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Downtown dilemma: If you build it, will they come? - New Mexico Business Weekly:
Albuquerque Downtown Real Estate.

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Campbell Ranch recognized by Build Green NM - New Mexico Business Weekly:: "Build Green New Mexico, a program of the Home Builders of Central New Mexico, has awarded developer Campbell Corporation an Exceptional Sustainable Community certification for its Campbell Ranch Communities housing development in the East Mountains near Albuquerque. Build Green New Mexico, a program of the Home Builders of Central New Mexico, has awarded developer Campbell Corporation an Exceptional Sustainable Community certification for its Campbell Ranch Communities housing development in the East Mountains near Albuquerque. "


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With the recent mailings of the Bernalillo County Property Tax bills, comes a wave of shocked homeowners. Homeowner property taxes are regulated by New Mexico state law so they cannot be raised more than 3% in one year - unless the house is sold. If the house is sold, the assessment can be increased based on the market value.
Unfortunately for homeowners seeing large increases, the period to appeal is in the spring when the "Notice of Values" are sent out. This shows the value of the property and states it will result in a bill unless an appeal is filed then.
One side note, as realtors, we know that at closing the title company is required to have the buyer sign a form showing that the title company is required to report the sale price to the County Assessor's office. http://www.WelcomeHomeABQ.com/

The Albuquerque's North Valley is about to get a little quieter. Construction started today on the first of 6 railroad crossings that are being converted to be "quiet crossings". The 6 crossings are between Candelaria and Osuna with the Candelaria crossing being started first. I'm hopeful that once these are constructed, money will be found to convert the rest of the North Valley crossings so the rest of the valley can benefit from the reduced train horn noise. My hats off to the residents and officials that have worked hard over the past many years to see this come to fruition!
Take care, Tracy



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Lessons can be learned from Albuquerque www.azstarnet.com ®

Downtown-redevelopment endeavors often spend big money on big projects that don't give a "human face" and a sense of place to downtowns, said Christopher Leinberger, one of Albuquerque's first downtown developers, who is now with the Brookings Institution.

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New Mexico Tourism Department: "New Mexico in the News: October 16, 2007 Albuquerque’s Old Town Holiday Stroll December 7-8"


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New Mexico Announces Supercomputer Project - Government Technology: "New Mexico Announces Supercomputer Project Nov 2, 2007, News Report New Mexico Gov. Bill Richardson today announced that New Mexico will soon host one of the most powerful supercomputers in the world. 'This is a major part of my effort to strengthen New Mexico's economy,' Richardson said. 'This project proves New Mexico is serious about developing its high-tech economy, and represents a crucial investment in our state's future. Our supercomputing center will be a world-class research facility. We will recruit companies to partner with us and move their research, development and manufacturing operations to the state, creating more high-wage jobs for New Mexicans.' "

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Mazotti schedules open house to discuss Downtown - New Mexico Business Weekly:: "Albuquerque entrepreneur Dominick Mazotti will hold an open house Thusday, Nov. 8, from 11 a.m. to 1 p.m. to discuss future of developments Downtown. Members of the Downtown Action Team, including Executive Director Brian Morris, have been invited. Albuquerque entrepreneur Dominick Mazotti will hold an open house Thusday, Nov. 8, from 11 a.m. to 1 p.m. to discuss future of developments Downtown. Members of the Downtown Action Team, including Executive Director Brian Morris, have been invited. "

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HBACNM e-News - Your November Issue of Builder e News: "NOW REALLY IS A GREAT TIME TO BUY You've seen the ads, heard it on the radio, and read about it. Now Really is a Good Time to Buy a Home- Let's Spread the Word!"

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Fast-growing Los Lunas receives water treatment loan - New Mexico Business Weekly::

"The new Mexico Environment Department's Construction Programs Bureau has awarded a $16 million loan to fast-growing Los Lunas for wastewater system improvements. The funds are to help the city south of Albuquerque provide additional sewage capacity. Money from the state's Clean Water State Revolving Loan Fund Program will help the town pay for capacity improvements for the Los Lunas Wastewater Treatment Plant. The new Mexico Environment Department's Construction Programs Bureau has awarded a $16 million loan to fast-growing Los Lunas for wastewater system improvements. The funds are to help the city south of Albuquerque provide additional sewage capacity. Money from the state's Clean Water State Revolving Loan Fund Program will help the town pay for capacity improvements for the Los Lunas Wastewater Treatment Plant. "

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Albuquerque Area Neighborhoods.

Albuquerque North Valley Neighborhoods:
Alameda, Alvarado Gardens, Black Farm Estates, Bona Terra, Bosque Del Rio, Bosque Dell Acres, Caballero Norte, Caballero, Chamisal, Coors Trail, Cottonwood Trails, Dietz Farm, Gavilan Addition, Greater Gardner, Green Valley, Guadalupe Trail, Guadalupe Village, Journal Center, Lee Acres, Los Alamos, Los Cansados, Los Duranes, Los Griegos, Los Jardines, Los Poblanos Estates, Los Poblanos Orchard, Los Poblanos, Los Ranchos de Albuquerque, Los Ranchos Village Center, Matthew Meadows, Monkbridge Gardens, Near North Valley, North Valley, Northeast Valley, North Rio Grande, Prado, Rio Grande Blvd., Rio Grande Compound, Rio Grande Estates, Riverfronte Estates, South Rio Grande, South Guadalupe Trail, Sun North Estates, Stronghurst, Thomas Village, Tinnin Farms, Vista Del Norte, Western Meadows, Wildflower Area, Windmill Estates.

Albuquerque Westside Neighborhoods:
Alban Hills, Andalucia De La Luz, Avalon, Cottonwood Heights, Eagle Ranch, Grande Heights, La Cuentista, La Luz De Sol, La Luz, Ladera West, Ladera, Las Lomitas, Las Terrazas, Laurelwood, Los Lomitas, Los Volcanes, Oxbow, Painted Sky, Paloma Del Sol, Paradise Greens, Paradise Heights, Paradise Hills Civic, Paradise Hills, Parkway, Pat Hurley, Piedras Marcadas, Quaker Heights, Rancho Sereno, Riverview Estates, Riverview Heights, S.R. Marmon, Saragossa, Seven Bar North, Skies West, Skyview Acres, Story Rock, Taylor Ranch, The Petroglyphs, Tierra Oeste, Tres Volcanes, Tuscany, Ventana Ranch West, Ventana Ranch, Villa De Paza, Villages of Parkwest, Vista Grande, Vista Magnifica, Volcano Cliffs, West Bluff, West Mesa, West Side.

Albuquerque Far Northeast Heights Neighborhoods:
Academy Acres North, Academy Estates East, Academy Hills Park, Academy North, Academy Park, Academy Ridge East, Albuquerque Academy, Antelope Run, Arroyo del Oso North, Bear Canyon, Boyds-Leslie Park,Cherry Hills, Countrywood, Del Norte, Eagle Pointe, Eisenhower Area, Far Northeast Heights, Foot Hills, Glenwood Hills, Heritage East, Heritage Hills, High Desert, Highlands North, Jade Park, John B Robert, La Cueva Village, La Cueva, Nor Este, Sonora, North Albuquerque Acres, North Domingo Baca, North Hills, North Wyoming, Northeast Heights, Ocotillo, Oso Grande, Osuna Park, Palomas Park, Peppertree-Royal Oak, Primrose Pointe, Prospectors Ridge, Quail Springs, Quintessence, S Y Jackson, Sandia Heights, Sonora, Tanoan Community, Tanoan Country Club, Tanoan East, Tanoan, Vineyard Estates.

Albuquerque Northeast Heights Neighborhoods:
Albuquerque Meadows, Alta Monte, Alvarado Park, Bel-Air, Big Bend, Candelmen, Chelwood Vista, Cibola Addition, Eastrange – Piedra Vista, Cielito Lindo, Conchas Park, Crestview Heights, Eldorado Park, Eldorado Heights, Embudo Canyon, Enchanted Park, Fair Heights, Fair West, Glenwood Hills South, Casa Grande, Glenwood Hills, Hodgin, Hoffmantown, Holiday Park, Indian Moon, Inez, Jackson Area, Jerry Cline Park, Kachina Hills, La Mesa, La Sala Grande, Las Altos, Loma Del Rey, Manzano Manor, Mark Twain, Matheson Park, McKinley, Mesa Village, Montgomery Heights, Montgomery Park, Mossman, Near Heights, North Easterns, Northeast Heights, Onate, Princess Jeanne, Quail Ridge, Quigley Park, San Gabriel, Sandia High School Area, Sandia High School Area, Shadow Hills, Snow Heights, Sombra Del Monte, South Los Altos, Stardust Skies Park, Supper Rock, Towne Park, Uptown, Vista Del Mundo, Zuni.

Downtown Albuquerque and UNM Area Neighborhoods:
UNM Area Neighborhoods:Albuquerque Country Club, Altura Addition, Altura Park, Altura Village, Barelas, Campus, Downtown Albuquerque, East Downtown - EDO, Forrester, Highland, Huning Castle, Huning Highland, Kirtland Community, Martineztown, Netherwood Park, Nob Hill, North Campus, Old Town, Parkland Hills, Plaza Vieja, Pueblo Alto, Raynolds Addition, Ridgecrest, Sandia Ridge, Sawmill Area, SE Heights, Silver Hill, South Broadway, Southeast Heights, Spruce Park, Summit Park, Sycamore, University Heights, Victory Hills, Wells Park, West Old Town, West Park, Yale Village.

Kirtland Air Force Base / Sandia Labs Area Neighborhoods:
Elder Homestead, Four Hills Village, Four Hills, Juan Tabo Hills, Kirtland Air Force Base, Mesa Del Sol, Mirabella, North Four Hills, Sandia National Laboratory, Siesta Hills, Singing Arrow, South San Pedro, Southeast Albuquerque, Tijeras Arroyo, Trumbull Village, Willow Wood, Winterwood Park.

Southwest Albuquerque Neighborhoods:
Alamosa, Anderson Hills, Arenal, Atrisco, Crestview Bluff, El Rancho Grande, Encanto Village, Los Altos Civic, Mountain View, Route 66 West, San Jose, Skyview West, South Valley, Southwest Mesa, Stinson Tower, Sunstar, Valley Gardens, Vecinos Del Bosque, Vista Sandia, Westgate Heights, Westgate Vecinos, Pajarito, South Atrisco.

Rio Rancho Neighborhoods:
Alegria Active Adult, Cabezon Communities, Chamisa Hill Country Club, Ciello Grande, Corrales Heights, Desert Ridge, Diamond Ridge, Enchanted Hills, Greystone Ridge, High Resort Community, Loma Colorado, Lomas Encantadta, Los Rios, Mariposa, North Hills, Northern Meadows, Quail Ranch, Rio Rancho City Centre, Rio Rancho Country Club, Rio Rancho Estates, River's Edge, Santiago Community, Sara’s Meadow, Stonegate, Trinity Estates, Unit 17, Vista Entrada, Vista Hills, Vista Montibella, Willow Trace.

Bernalillo Neighborhoods:
Alegria, Bosque Del Rio Grande, Bosque Encantado, Calle Del Escuela, Santiago Communities.

Placitas Neighborhoods:
Cedar Creek, Diamond Tail Ranch, Dome Valley, El Cerro Negro, Ideal Acres, Juniper Hills, La Mesa, Las Huertas Mountain Estates, Las Pastores, Linda Placitas, Lomas De Placitas, Mountain View Acres, Overlook, Placitas Heights, Placitas Homesteads, Placitas Trails North, Placitas Trails, Placitas West, Quail Meadow, Rainbow Valley, Ranchos De Placitas, San Francisco Hills, Sky Mountain, Sundance Mesa, Tecolote, Tierra Madre, Tres Amigos, Tunnel Springs, Village of Placitas, Villas de Las Huertas, Vista Cabezon, Windfall.

Corrales Neighborhoods:
Applewood Hills, Corrales Compound, Corrales Del Norte, Entrada De Corrales, Las Brisas, Meadowlark, Mesa Vista De Corrales, Otra Vez, Pueblo Los Cerros, Ranchos Corrales, Salida Del Sol, Skyview Acres, Tierra De Corrales.

East Mountains Area Neighborhoods:
Dennis Chavez Estates, Five Hills, Los Pinos, Nature Pointe, Sandia Derby, Tablazon, Vista De Manana, Eagle Crest Estates, Forest Park, Pinon Ridge Estates, Sierra Vista Estates, Ventana Del Sol, Paa-ko, Sandia Knolls, San Pedro Creek Estates, San Pedro Overlook.

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