Albuquerque Real Estate News: January 2008

ABQjournal Business: City's Commercial Real Estate Market Looks Set to Weather Economic Rough Times: "If tougher economic times are coming, the commercial real estate market is poised to ride them out."

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Labels: Albuquerque Commercial Real Estate

We definitely need to start figuring out alternatives...

ABQjournal Metro: Officials See Paseo Closure as Wake-Up Call: "Don't expect a new bridge to the West Side anytime soon, but officials do have a few ideas on how to prevent massive traffic jams in the future.
The closure of Paseo del Norte from Saturday through Monday highlighted the need for something to be done about crosstown traffic, especially when a major road is shut down, said Don Leonard, Mid-Region Council of Governments chairman."

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Labels: abqjournal, Westside

ABQjournal Metro: City Buys Open Space In East Mountains: "Albuquerque has completed a 420-acre purchase of open space in the East Mountains.
Mayor Martin Chávez and the Trust for Public Land said the property will be known as the John Milne Open Space Area. Milne was a prominent educator, and his family owned the property.
The land lies next to the existing Gutierrez Canyon open space."

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Payment Index: Low Down-Payment Buyers Still Have Safe, Secure Options RISMedia: "RISMEDIA, Jan. 30, 2008-As the mortgage lending market continues to tighten, first time home buyers with low down payments still have choices, according to Dr. Susan M. Wachter, professor of Real Estate and Finance at the University of Pennsylvania’s Wharton School. With support from Genworth Financial, Dr. Wachter released her fourth quarter 2007 U.S. Mortgage Payment Index, reviewing the lessons of the “mortgage meltdown” and recommending steps forward"

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KOB.com - Mayor delivers State of the City address: "Albuquerque Mayor Martin Chavez delivered the State of the City address Monday, and a big focus of his speech was on Albuquerque's growing film industry."

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Stop the Home Tax Now in New Mexico: "Homeowners and those who dream of owning a home take heed. During the 2008 legislative session, New Mexicans will have the opportunity to protect the value of their home and keep homes affordable. Senator John Grubesic has introduced legislation to protect New Mexico homeowners’ investment in their homes. If passed, the new law will prevent local governments from levying a home excise tax (a sales tax collected on the sale of every home)."


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Oberstein takes on historic Huning-Highland - New Mexico Business Weekly:: "Santa Fe developer David Oberstein has had a surprisingly fluid time dealing with a neighborhood association that, by its own admission, won't let so much as a doghouse be torn down without its approval. Santa Fe developer David Oberstein has had a surprisingly fluid time dealing with a neighborhood association that, by its own admission, won't let so much as a doghouse be torn down without its approval."


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Labels: Albuquerque Commercial Real Estate

Interesting article on the property assessment system in New Mexico. I am glad to see we are having this debate. It does seem that the current system of determining assessments on Albuquerque Homes is in need of work.

ABQjournal Metro: Cap on Property Values Lifted When House Sells:

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Paseo del Bosque Bike Trail in Albuquerque: "Take a ride on one of the best bike trails in the West!
Albuquerque's premiere trail, the Paseo del Bosque Trail, goes from the north to the south edges of the metro area through the Rio Grande's cottonwood bosque (forest). That's 16 miles of paved trails uninterrupted by roadways! It passes through Rio Grande Valley State Park, with opportunities to see the Rio Grande Nature Center, the Albuquerque Biological Park and the National Hispanic Cultural Center."

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Labels: Activities

REALTOR® Magazine-Daily News-30-Year Mortgage Rates Fall to 4-Year Low

For the fourth straight week, interest rates on 30-year fixed loans dropped to their lowest levels in nearly four years. Could this mark a beginning to a housing market recovery?


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REALTOR® Magazine-Daily News-House OKs Lift on Fannie, Freddie Loan Limits

The economic stimulus package hammered out between the White House and Congress on Thursday lifts the size of home loans that may be bought or insured by Fannie Mae and Freddie Mac.

The Fannie/Freddie cap would rise to $729,750 for one year. Currently Fannie and Freddie are capped at $417,000.

The measure also would permit the Federal Housing Administration to indefinitely insure loans up to that same level. Currently, FHA loans may not exceed $367,000.

“The stimulus package announced today is a positive step toward strengthening the housing market and our economy," NAR President Dick Gaylord said in a public statement. "The increase in loan limits should provide liquidity to the mortgage market in all parts of the country allowing qualified home buyers who may have been on the sidelines to enter the market."

The measure is also expected to make jumbo loans more affordable because it will make them more attractive to investors, who since summer have shunned home loans that don’t pass through Freddie or Fannie.

“In high-cost states, many home buyers with good credit could save $3,000 to $5,000 per year by not being forced into the current jumbo mortgage market," Gaylord said. "Currently, only families in lower cost areas are able to qualify for these types of affordable loans. Such a move would stimulate home sales and help stem the rise in foreclosures, reducing the number of foreclosures by as much as 210,000."

In particular, prospective home buyers in costly regions like California, Northern Virginia, and New York have faced higher mortgage rates and tougher loan terms, and those areas would get relief under the plan, says Susan Wachter, a professor of real estate and finance at the Wharton School of the University of Pennsylvania.

"This is meaningful because the mortgage crisis and meltdown is geographically concentrated," she says. "This response will assist the stressed areas."

Source: Reuters, Patrick Rucker (01/24/08) and REALTOR Magazine Online


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ABQjournal Metro: Family, Friends and Well-Wishers Welcome Home Members of the 150th Fighter Wing: "Fifty-six members of the New Mexico Air National Guard's 150th Fighter Wing returned home from Iraq on Thursday afternoon to a packed lobby at the Albuquerque International Sunport.
A beaming Brig. Gen. Kenny Montoya, adjutant general for the New Mexico National Guard, said he couldn't be more proud of his returning troops."


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This is not bad news... Albuquerque builders have done a good job at not over building.

New home permits slide by 60% - New Mexico Business Weekly:: "Permits for the construction of new homes in the Albuquerque metro area declined nearly 60 percent in December 2007 compared to the same month in 2006, according to research firm DataTraq. Permits for the construction of new homes in the Albuquerque metro area declined nearly 60 percent in December 2007 compared to the same month in 2006, according to research firm DataTraq."

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ABQjournal West_News: North Valley Quiet Zone Takes Effect: "N. Valley Quiet Zone Takes Effect

By Lloyd Jojola
Journal Staff Writer
Some North Valley residents bothered by the sound of blowing horns from passing trains have gotten relief.
Rail Runner Express operators and others on Wednesday introduced the first designated 'quiet zone' in the city area."

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ABQjournal Metro: Rules Upset Builders: "Rules Upset Builders

By Sean Olson
Copyright © 2008 Albuquerque Journal; Journal Staff Writer
New construction requirements designed to conserve water are extreme and would add thousands of dollars to the cost of a new home, Albuquerque builders say.
For larger buildings, the cost of the stricter requirements could add hundreds of thousands of dollars to the price tag."

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Mortgage rates lowest since in nearly 4 years - Real estate- msnbc.com: "WASHINGTON - Rates on 30-year mortgages dropped for a fourth straight week to the lowest level in nearly four years, raising hopes that low rates will help spur a rebound in the hard-hit housing industry."

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ABQjournal Metro: 'Extreme Makeover' Team Reveals Rebuilt Home to ABQ Pastor, Family: "'Move that bus!' 'Move that bus!' 'Move that bus!' The crowd lining Grove and Bell streets chanted that in unison Tuesday afternoon. And when the bus finally did pull forward to reveal the view, the Rev. Gerald Martinez, overcome with emotion, bent at the waist and his wife, Liesa, buckled at the knees. The smallest member of the family, Bethany, held her hands to her face and appeared to weep with joy."



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Great new website explaining the benefits of home ownership.

Housing Market Facts




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NAR: NAR Campaign Relates Real Facts About Real Estate: "NAR Campaign Relates Real Facts About Real Estate
WASHINGTON, January 14, 2008 - Beginning today, the National Association of Realtors® is reaching out to consumers with the facts about homeownership and the value of real estate as a long-term investment. Would-be homeowners who are uncertain about their home buying plans can learn more about the options available to NAR Campaign Relates Real Facts About Real Estate
WASHINGTON, January 14, 2008 - Beginning today, the National Association of Realtors® is reaching out to consumers with the facts about homeownership and the value of real estate as a long-term investment. Would-be homeowners who are uncertain about their home buying plans can learn more about the options available to..."

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ABQjournal West_News: Zoning Change for Corrales School Opposed: "Wednesday, January 23, 2008

Zoning Change for Corrales School Opposed

By Elaine D. Briseño
Journal Staff Writer
A group of Corrales residents says approval of a zone change that would allow Corrales International Charter School to move into its neighborhood threatens the rural nature of the area."

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ABQjournal West_News: Placitas on 'Alert' Over Plan: "Placitas on 'Alert' Over Plan

By Rosalie Rayburn
Journal Staff Writer
A Placitas community association is urging residents to oppose a federal plan that it says could bring pipelines or electric transmission towers to their neighborhood."

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ABQjournal Business: Second Phase of Sun Valley Work to Start: "Second Phase of Sun Valley Work to Start

By Richard Metcalf
Of the Journal
Construction is scheduled to begin next month on the first two buildings of five planned in the second phase of Sun Valley Commercial Center on Osuna NE.
Sun Valley's second phase is a speculative office condominium project, although Jim Rogers of Albuquerque-based Sunland Development said there are commitments from potential buyers for some of the space."


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http://members.abqrealtors.com/hs/stats-2007_december-report.pdf
“We have seen a decline of Single family Detached listings which dropped from 6,131 in Oct of 2007 to
5,523 for Dec 2007.” The Average Sales Price for the same period has decreased from $246,522 to $240,602.”
Average Days on Market has increased from 51 Days in Oct to 60 Days in Dec. said Scott Dean, 2007 Chairman.

Labels: Albuquerque Real Estate

Mortgage Cancellation - Legislative History: "Mortgage Debt Cancellation Relief - H.R. 3648 - Public Law 110-142 General Information and Provisions

Individuals who are relieved of their obligation to pay some portion of a mortgage debt on a principal residence between January 1, 2007 and December 31, 2009 will not be required to pay income tax on any amount that is forgiven.

General Provisions of Public Law 110-142:
No income limitation: All borrowers receive the relief, no matter what their income.
Dollar limitation: No more than $2 million of mortgage debt is eligible for the exclusion ($1 million of debt for a married filing separately return).
Relief applies only to an individual's principal residence.
The forgiven mortgage debt must have been secured by that residence.
No relief is available for cash-outs, whether the cash-out takes the form of a refinanced first mortgage, a second mortgage, home equity line of credit or similar arrangement.
Eligible debt is what is called 'acquisition indebtedness.' This is debt used to acquire, construct or rehabilitate a residence.
Refinanced debt qualifies, so long as the debt does not exceed the original amount of the debt. (Same rule as Mortgage Interest Deduction)
Home equity debt (or second mortgages) qualifies if the funds were used to improve the home. (Borrower must have adequate records, as under current law.)
See cash-outs, above. No amount of a cash out may be treated as acquisition debt."

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ABQjournal West_News: Future Is Green For Schools; New Structures Must Meet LEED Standards: "Tuesday, January 22, 2008

Future Is Green For Schools; New Structures Must Meet LEED Standards

By Andrea Schoellkopf
Journal Staff Writer
When construction begins next year on a new Westgate elementary, it will mark the future of environmentally and energy-conscious schools in Albuquerque.
Albuquerque Public Schools last fall began requiring that new schools, or stand-alone additions, must adhere to national standards set by the U.S. Green Building Council to attain 'Leadership in Energy and Environmental Design' certification."

Labels: Green Building

ABQjournal Homes: Beazer Homes Subdivision Has Houses That Can Be Customized for the Owners' Needs: "Sunday, January 20, 2008

Beazer Homes Subdivision Has Houses That Can Be Customized for the Owners' Needs

By Johanna King
For the Journal
Despite the many amenities and special touches that make the homes at Entrada del Bosque appear custom-built, Kurt Stark of Beazer Homes of New Mexico says he doesn't expect residents to spend all of their time inside.
That's because the environment surrounding the latest community by Beazer Homes is so inviting.
Located just a couple of blocks from the cottonwood-filled bosque and within walking distance of historic Old Town, Stark says Entrada del Bosque will appeal to homeowners who like to ride bikes or walk along nature trails as well as those who enjoy exploring museums, shopping boutiques and dining on local fare."

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REALTOR® Magazine-Daily News-30-Year Mortgages Hit Lowest Rates Since 2005: "Daily Real Estate News January 18, 2008
30-Year Mortgages Hit Lowest Rates Since 2005
Long-term mortgage rates remain in a downward pattern, registering the third consecutive week of decline.

According to Freddie Mac's numbers, average interest on 30-year fixed loans settled the week at 5.69 percent—the lowest level since July 2005. Other rate declines include:

15-year fixed mortgages slipped to 5.21 percent from 5.43 percent a week ago.
5-year adjustable-rate average retreated to 5.4 percent from 5.63 percent.
1-year ARMs fell to 5.26 percent from 5.37 percent..

Observers generally agree that borrowing costs will remain at or near 6 percent for 2008 unless a U.S. recession surfaces—in which case they expect rates to decline further.

Source: Baltimore Sun (01/18/08)

© Copyright 2007 Information Inc."

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This is a big deal for westside Albuquerque development. I wonder what this part of the city will look like in 20 years?

ABQjournal West_News: SunCal Reaches Deal On TIDDs: "SunCal Reaches Deal On TIDDs

By Sean Olson
Journal Staff Writer
A major West Side developer will be allowed to divert up to 50 percent of state sales taxes in four special development districts to pay for roads, utilities and other public works.
The state Board of Finance approved the agreement with SunCal, which is planning to build homes and businesses on about 57,000 acres of former Westland property."

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Albuquerque Realtors® Receive Advanced Negotiation Certification.

Buying or Selling a Home is one of life’s biggest decisions. Working a Realtor® with expert negotiation skills is a must for all home buyers and sellers, especially in the current market.

Tego and Tracy Venturi with the WelcomeHomeABQ.com Real Estate team have been awarded the Certified Negotiation Expert (CNE) designation, achieved by real estate professionals who have successfully completed formal training in the art of negotiation. Agents who receive this certification are in the top 1% of all agents nationally.

“Being able to Negotiate the best possible terms for our clients is one of the most important roles as Real Estate Professionals” says Tracy Venturi. “The CNE education gave us the tools to be more effective in negotiating home sale terms and prices for both our buyers and sellers”. With Professional negotiation skills, agents will typically obtain better results for their clients in a collaborative environment. CNE agents have a powerful competitive edge because of their ability to uncover information effectively, get more and give less during negotiations, and retain more control over desired outcomes. CNE agents have the training to influence and persuade others more effectively than agents without professional negotiation training.

In the Albuquerque Real Estate market home sellers have lots of competition and will need a Real Estate agent that has the skills to negotiate the best terms and price possible. With Albuquerque having so many homes for sale, buyers also should get professional guidance from a CNE to assure they find the right home at the absolute best price.

The certification training is provided by Negotiation Expertise LLC, national negotiation training and coaching company based in Arizona. Tom Hayman, the President and owner, is a professional negotiator with 35+ year's experience. Hayman asserts "Any Buyer or Seller who hires a CNE agent can feel confident that they have the best trained agent in the business. They will get superior results and have better resolution of any issues when hiring a CNE agent”.

The WelcomeHomeABQ.com Real Estate team are full service Realtors® serving the Albuquerque / Rio Rancho Real Estate Market, and Rio Rancho Land. Keller Williams Realty Albuquerque.

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Atreus Homes & Communities - Extreme Makeover Home Edition
Photos

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'Extreme Makeover: Home Edition' rebuilds homes in Albuqerque's Trumbull Village : Local : Albuquerque Tribune:

"While volunteers for the 'Extreme Makeover: Home Edition' show were planning how to rebuild an Albuquerque home, Debra Asher, a stay-at-home mother of seven, was devising a plan of her own.
Asher wanted to see host Ty Pennington. On Wednesday, with her four youngest kids in tow, she drove from her Northeast Heights home, eluded the security guards at blockades around the production site and stood on a Southeast Heights corner to watch the start of an episode."

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Fidelity Investments Selects Forest City's Mesa del Sol for New Operations Center:

Financial Services Company Will Create 1,250 New Jobs
Momentum is Building, Mesa del Sol is Living up to Promise

ALBUQUERQUE, N.M. & CLEVELAND--(BUSINESS WIRE)--Forest City Enterprises, Inc. (NYSE: FCEA) (NYSE: FCEB) announced today that Fidelity Investments, one of the world’s largest providers of financial services, will locate a new 210,000-square-foot operations center at Mesa del Sol, a 12,900-acre, mixed-use project in Albuquerque, NM.
Mesa del Sol is being developed by Forest City Covington NM, LLC, a joint venture between Forest City NM, LLC, a subsidiary of Forest City Enterprises, and Covington NM, LLC, an affiliate company of Covington Capital Corporation.
Fidelity, which expects to create 1,250 new jobs in Albuquerque, will begin its local operations this year and occupy its facility at the Mesa del Sol site in late 2008. The new campus will house the expansion of Fidelity Human Resources Services which provides corporate clients with payroll, health and welfare, and human resources services.
“Fidelity’s selection of this location for a major facility reflects its great confidence in New Mexico’s workforce and the quality of life provided at Mesa del Sol,” said Michael Daly, president of Forest City Covington. “It also offers testimony to the successful collaboration of the public and private sectors, at both the local and state levels, to support economic development that will benefit the entire state."

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ABQjournal West_News: Many in S. Valley Want More Lights: "Many in S. Valley Want More Lights

By Juan-Carlos Rodriguez
Journal Staff Writer
South Valley residents vented their concerns about the lack of lighting on their streets at a meeting with Bernalillo County Commissioner Teresa Córdova and Sheriff Darren White on Tuesday night.
White and Córdova spoke to about 30 residents of pedestrian dangers at night in response to the death of Frank Lovato, who was killed on Dec. 29 when a truck hit him as he was walking on the side of the road in the 6900 block of Isleta SW."

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NAR: NAR Campaign Relates Real Facts About Real Estate: "NAR Campaign Relates Real Facts About Real Estate
WASHINGTON, January 14, 2008 - Beginning today, the National Association of Realtors® is reaching out to consumers with the facts about homeownership and the value of real estate as a long-term investment. Would-be homeowners who are uncertain about their home buying plans can learn more about the options available to them and the long-term benefits of owning a home through a new advertising campaign that will provide current, relevant housing data to help them make informed decisions about buying a home.NAR Campaign Relates Real Facts About Real Estate
WASHINGTON, January 14, 2008 - Beginning today, the National Association of Realtors® is reaching out to consumers with the facts about homeownership and the value of real estate as a long-term investment. Would-be homeowners who are uncertain about their home buying plans can learn more about the options available to them and the long-term benefits of owning a home through a new advertising campaign that will provide current, relevant housing data to help them make informed decisions about buying a home."

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Curb Appeal: "In today's real estate market, it's more important than ever to pay attention to the curb appeal of your home. Your home today has more competition on the market than ever, with less qualified buyers due to the mortgage crises, so if you want to sell your home to those looking to buy, everything counts, including curb appeal. Here's how to improve the exterior of your home outside."


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Eclipse Aviation - Eclipse Aviation Secures Long-Term Financing Through Agreement with ETIRC Aviation in Europe and Russia: "Eclipse Aviation Secures Long-Term Financing Through Agreement with ETIRC Aviation in Europe and Russia
Expanded partnership targets Eclipse 500 as the global standard for very light jets
ALBUQUERQUE, NM — January 14, 2008 — Eclipse Aviation, manufacturer of the world's first very light jet (VLJ), today announced it will expand its partnership with European Technology and Investment Research Center (ETIRC) Aviation. The agreement between the two companies includes an equity investment by ETIRC in Eclipse that is substantially in excess of $100 million. The agreement also provides for significant additional financial benefits to Eclipse as agreed commercial objectives are realized. Upon completion of the equity investment ETIRC will be the single largest shareholder of Eclipse Aviation. ETIRC CEO Roel Pieper has been elected non-executive Chairman of Eclipse Aviation."



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Eclipse Aviation - Eclipse Aviation Secures Long-Term Financing Through Agreement with ETIRC Aviation in Europe and Russia: "Eclipse Aviation Secures Long-Term Financing Through Agreement with ETIRC Aviation in Europe and Russia
Expanded partnership targets Eclipse 500 as the global standard for very light jets
ALBUQUERQUE, NM — January 14, 2008 — Eclipse Aviation, manufacturer of the world's first very light jet (VLJ), today announced it will expand its partnership with European Technology and Investment Research Center (ETIRC) Aviation. The agreement between the two companies includes an equity investment by ETIRC in Eclipse that is substantially in excess of $100 million. The agreement also provides for significant additional financial benefits to Eclipse as agreed commercial objectives are realized. Upon completion of the equity investment ETIRC will be the single largest shareholder of Eclipse Aviation. ETIRC CEO Roel Pieper has been elected non-executive Chairman of Eclipse Aviation."



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Labels: Albuquerque Business

SCHOTT Solar Selects Mesa del Sol for New Solar Manufacturing Plant

Company to Bring up to 1,500 Jobs to Mesa del Sol’s Renewable Energy Cluster

ALBUQUERQUE, N.M. & CLEVELAND--(BUSINESS WIRE)--Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:FCEB) announced today that SCHOTT AG, a global leader in glass and optics and one of the largest solar technology manufacturers in the world, will build a 200,000 square foot manufacturing facility for SCHOTT Solar, Inc., its wholly owned subsidiary, on 80 acres at Mesa del Sol, a 12,900 acre mixed-use project in Albuquerque, NM.
Mesa del Sol is being developed by Forest City Covington NM, LLC, a joint venture between Forest City NM, LLC, a subsidiary of Forest City Enterprises, and Covington NM, LLC, an affiliate company of Covington Capital Corporation.
SCHOTT brings an initial 350 jobs and as many as 1,500 jobs when all phases of the plant are complete. The worldwide company will produce critical components for solar thermal receivers and photovoltaic (PV) panels. SCHOTT is the second solar manufacturer to join the Mesa del Sol renewable energy cluster. This will be the company’s largest facility in the U.S.
“One of the top solar companies in the world has decided that Mesa del Sol is the best place to build and staff their new manufacturing plant,” said Michael Daly, president of Forest City Covington, developer of Mesa del Sol, in making the announcement. “This announcement demonstrates that Mesa del Sol is successfully continuing its economic development commitments and that Mesa del Sol is focused on creating high-value jobs.”
Plans call for an initial $100 million investment. Construction on the first phase of the project is set to begin in a few weeks, with production expected to begin in Spring 2009.
“I am committed to making New Mexico a clean energy state,” said Gov. Bill Richardson. “I am pleased SCHOTT is opening a factory and bringing more alternative clean energy development to the state.”



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Top 10 Tips For A Successful Home Staging



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Foreclosures in 2007 may Help Boost Foreclosure Prevention in 2008: "Iforeclosureinfo.com, an internet-based foreclosure site that keeps users up to speed on foreclosure listings and information, has made predictions on foreclosure activity for 2008 based on what has happened through 2007. The company predicts that the market will inevitably turn around, and has announced its support in the need for change in legislation."

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REALTOR® Magazine-Daily News-How to Get a Quick Sale in a Slower Market: "How to Get a Quick Sale in a Slower Market
An analysis of the real estate market in the Baltimore area shows that even in a slow market some houses sell quickly — for the same reasons they do in a booming market.

In November, when the average time on the market was 105 days, 13 percent of the 1,892 homes that sold in Baltimore and five surrounding counties had contracts in two weeks or less, according to data from Metropolitan Regional Information Systems Inc.

Those 251 homes went from listing to selling in an average of seven days. They were typically older, three-bedroom, two-bath houses that sold at an average of $304,355 — about $4,000 under the overall average sale price.

An analysis shows that fast sellers in a slow market have three common denominators:

They're priced better than comparable listings.
They show like model homes.
They have a full force of marketing, including enticing Internet photos, behind them."

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REALTOR® Magazine-Daily News-Existing-Home Sales to Hold Steady in Early 2008: "Existing-Home Sales to Hold Steady in Early 2008
Over the next few months, existing-home sales are expected to hold fairly steady as indicated by pending sales activity, and then rise later in the year and continue to improve in 2009, according to the latest forecast by the National Association of REALTORS®.

Lawrence Yun, NAR chief economist, says there is a pull and tug exerting itself on the market.

“On the one hand, we have a pent-up demand from the four million jobs added to our economy over the past two years of sales decline,” he says. “On the other, consumers continue to wait for additional signs of market stabilization. There are more people with financial capacity now than in 2005, but many are trying to market-time their purchase. As a result, the exact timing and the strength of a home sales recovery is a bit uncertain. A meaningful recovery in existing-home sales could occur as early as this spring, or it may be further delayed toward late 2008.”"

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Albuquerque is still on the list... Lower than last year, but still looking to be one of the better markets in the country.


Top Real Estate Markets in 2008: "The 2008
Top 25 Real Estate Market Forecast
An amazing dozen states real estate markets are represented on the 2008 Housing Predictor Top 25 Market list.
The Top 25 with the highest forecast appreciation have the greatest probability of reaching their forecast of the more than 250 local housing markets Housing Predictor forecasts. In 2007 Housing Predictor’s forecasts were 86% correct within a 1 to 2 percent margin."

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HomeGain's New Real Estate Study Reports 578 Percent Return From 'Cleaning and De-cluttering' A Home For Sale: "Leading real estate website conducts national survey to show highest return on investment of home improvements for selling a residential property.
Emeryville, CA (PRWEB) January 7, 2008 -- According to a national survey of 2,000 real estate agents conducted by HomeGain, the home improvement that has the highest return on investment (ROI) is cleaning and de-cluttering.
Results showed that, on a national average, homeowners who spend a couple hundred dollars on cleaning and de-cluttering a home for sale could yield a 578 percent ROI, which may be incremental home value of $2,000. The highest ROI was reported in the West region with an 837 percent return."

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"Extreme Makeover: Home Edition" Coming to New Mexico, Local Homebuilder Atreus Homes & Communities Selected
Atreus Homes & Communities (previously known as HomeLife Communities) offers new home communities in the following areas: Phoenix, Arizona, Albuquerque, New Mexico, Raleigh, North Carolina, Atlanta, Georgia, and Charlotte, North Carolina. Atreus has teamed up for the third time with ABC's "Extreme Makeover: Home Edition" to provide an Albuquerque family with an extreme makeover on their home. There are currently five families under consideration for the episode. This will be Extreme Makeover: Home Edition's first project in New Mexico.
Albuquerque, New Mexico (PRWEB) January 5, 2008 -- Extreme Makeover: Home Edition, Ty Pennington and his team of designers will be making their first stop in New Mexico sometime within the next 90 days to build a home for a deserving family, producers of the Emmy-winning TV show announced today.
The producers also announced that Atreus Homes & Communities of New Mexico will be the lead builder on the project, even though the exact location and family are yet to be chosen.
Atreus Homes & Communities, which currently is building two neighborhoods - Toscano at Sierra Ranch and Saltillo in Northwest Heights - has already built and donated two homes for the hit television show. Last spring, the company built a new zero-energy green home for the Yazzie family on the Navajo Nation near Pinon, Arizona. In December 2006, the company's Raleigh, N.C., division built a new home and remodeled a community center for Linda Riggins and her family.
"Extreme Makeover: Home Edition is extremely excited about coming to New Mexico," said Denise Cramsey, executive producer of the show. "This will be our first visit to the Land of Enchantment, so our team of designers is looking forward to it. We're also looking forward to working again with Atreus Homes, a company that has helped us build two spectacular houses for two very deserving families. For the New Mexico project we have five families throughout the state that are being considered."
Atreus Homes & Communities is a third-generation, family owned homebuilder with operations in five cities: Albuquerque, Phoenix, Raleigh, Atlanta and Charlotte, N.C. The company, previously known as HomeLife Communities, has built more than 10,000 single-family homes in the past decade, and has a long history of supporting community-focused programs and charities. Its starter homes range from the $120's to low $200's.
"We're very excited to be selected by the show's producers to be New Mexico's builder for this project, whether it be in Albuquerque, Santa Fe or even Carlsbad," notes Atreus Homes division president Kyle Fisher. "Tearing down and building a new home for a deserving family in just one week is a frightening challenge, but I know that we, our trade partners and volunteers from around the state will be up to the challenge when it happens."
Those interested in volunteering for the project should visit www.ExtremeAtreus.com to register, and keep visiting the site for updates once the show arrives.
ABOUT EXTREME MAKEOVER: HOME EDITIONExtreme Makeover: Home Edition has won back-to-back Emmy Awards as the Best Reality Program (non-competitive), the Peoples' Choice Award for Favorite Reality Show/Makeover, The Family Television Award for Best Alternative/Reality Program and is in its fifth season on ABC. The program is produced by Endemol USA, a division of Endemol Holding. Denise Cramsey is the executive producer and David Goldberg is the president of Endemol USA.
ABOUT ATREUS HOMES & COMMUNITIESAtreus Homes & Communities, formerly HomeLife Communities, is a third-generation family-run homebuilder headquartered in Atlanta that is currently selling new homes in more than 100 neighborhoods nationwide. The company currently builds in Atlanta, Raleigh, Charlotte, Phoenix and Albuquerque, with prices ranging from townhomes in $80's to detached homes from the $120's to high $200's. The company is the only homebuilder to offer the Customer Satisfaction PlusTM buyback guarantee on every home it builds. For more information on Atreus Homes, visit www.AtreusHomes.com.



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North I-25 Sector Development Plan Public Meeting - Albuquerque Real Estate News News
The City of Albuquerque Planning Department has scheduled a meeting for presentation and discussion of the new draft of the North I-25 Sector Plan. This draft has been substantially revised and incorporates many of the suggestions discussed at the previous meetings that were held on November 13 and 14, 2007 at the Balloon Museum. The City will be receiving a draft of the Plan the last week of December from the consultants, HDR. I will make this draft available via email and the City’s website. The next meeting will be Wednesday, January 9, 2008 at the old Philips Site, 9201 Pan American Freeway.

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ABQjournal West_News: Zoning Issue Goes Before Panel Wednesday: "Zoning Issue Goes Before Panel Wednesday

By Juan-Carlos Rodriguez
Journal Staff Writer
A proposal that could bring some order to Mountain View's confounding zoning situation will go before the Bernalillo County Planning Commission on Wednesday.
The Mountain View Sector Development Plan is part of the county's effort to solve years of conflict between it, business owners and residents. The conflict arose out of the close proximity of heavy industrial and residential zoning in the neighborhood."

Labels: Albuquerque Real Estate

Home Builder's Association of Central New Mexico Showcase Committee: "The Home Builders and Remodelers Showcase is the largest Home Show in New Mexico featuring everything you need for home and remodeling products and services. Approximately 200 local exhibitors, including builders and remodelers, will gather this January at the Manuel Lujan Exhibit Hall to showcase the latest in home design, decorating, and the cutting edge products and technologies available for the home."

Saturday, January 12th from 10AM to 6PM
Sunday, January 13th from 10AM to 5PM
Admission - $5 click for coupon
Location EXPO New Mexico


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Labels: Albuquerque Events

An excellent article on the Albuquerque and Rio Rancho area is posted on the Business Facilities website. The Albuquerque area is a great place for Business! Just ask Intel, Eclipse Aviation, etc... I feel Albuquerque is going to really take off in the next ten years. I think Albuquerque is what the Phoenix area was like 30 years ago.

Business Facilities - Metro Spotlight – Albuquerque, NM: "Albuquerque and Rio Rancho. Rio Rancho has grown rapidly since its incorporation in 1981, and is now home to more than 60,000 residents. Albuquerque, the largest city in New Mexico with a population of over 500,000, has a central downtown area, a historical district, an international airport, and the vast majority of the industrial, commercial, and residential development in the MSA."


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Labels: Albuquerque Business

Bell-Boeing wins Kirtland AFB contract - New Mexico Business Weekly:: "The U.S. Navy has awarded a $47.5 million contract, part of which will support continued special operations training on the CV-22 Osprey aircraft at Kirtland Air Force Base, to the Bell-Boeing Joint Program Office in Amarillo.
Forty-five percent of the award is specified for operational training support at Kirtland through September 2008. The U.S. Navy has awarded a $47.5 million contract, part of which will support continued special operations training on the CV-22 Osprey aircraft at Kirtland Air Force Base, to the Bell-Boeing Joint Program Office in Amarillo.
Forty-five percent of the award is specified for operational training support at Kirtland through September 2008."

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Mortgage rates dip below 6 percent - New Mexico Business Weekly:: "Mortgage rates have, on average, reached their lowest levels nationally since 2005, according to Fannie Mae.
Average rates for 30-year fixed-rate mortgages were at 5.7 percent as of Jan. 7. Rates last dipped this low in September 2005, when the rate was 5.65 percent. Mortgage rates have, on average, reached their lowest levels nationally since 2005, according to Fannie Mae.
Average rates for 30-year fixed-rate mortgages were at 5.7 percent as of Jan. 7. Rates last dipped this low in September 2005, when the rate was 5.65 percent."

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Labels: Mortgage News

8 reasons why your house is unsellable - TODAY 101 - MSNBC.com: "Housing trends sail by faster than most of us have time to notice, but when it comes to selling your house, you might suddenly wish you’d sat up and paid attention before."

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Grubb & Ellis merges, celebrates 50th - New Mexico Business Weekly:: "The parent company of franchise Grubb & Ellis New Mexico has completed a merger with NNN Realty Advisors. The Grubb & Ellis name will remain.
The merger, which was finalized last month, adds to the national firm a full range of commercial real estate investment programs of which NNN was a leading sponsor. Grubb & Ellis hopes the merger will better position it to compete in the global commercial real estate market. The combined companies will be headquartered in Santa Ana, Calif. The parent company of franchise Grubb & Ellis New Mexico has completed a merger with NNN Realty Advisors. The Grubb & Ellis name will remain.
The merger, which was finalized last month, adds to the national firm a full range of commercial real estate investment programs of which NNN was a leading sponsor. Grubb & Ellis hopes the merger will better position it to compete in the global commercial real estate market. The combined companies will be headquartered in Santa Ana, Calif."

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Albuquerque: 21st Century Transportation Task Force - Official City News: "The first meeting of the 21st Century Transportation Task Force has been scheduled!
Date: Jan. 8th
Time: 3pm
Location: Council Committee Room, 9th Floor of the Albuquerque/Bernalillo County Government Building

This will be the first meeting of the appointed task force to discuss city wide transit issues and to discuss and make recommendations about the future of the Quarter Cent Transportation Tax."

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Time in Albuquerque is time well spent -- South Florida Sun-Sentinel.com: "AAA wasn't kidding when its annual vacation costs survey ranked the central New Mexico destination as the least-expensive American city in which to spend your recreational dollars."

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Labels: Activities, Why Albuquerque?

ABQjournal West_News: SunCal Opens Info Center: "The company that wants to develop the old Westland property has established a public information center Downtown.
SunCal has binders full of documents and information sheets available at the Hyatt on Fourth and Tijeras NW through Monday. SunCal executives were on hand Wednesday, and staff will be there to take questions."

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ABQjournal Metro: UNM Land Options Reviewed: "A hotel and conference center at the University of New Mexico's south golf course.
Brand outlets, sporting goods stores and restaurants near the Pit and University Stadium.
A Whole Foods Market and shops along the Lomas corridor.
Those are among the 11 development proposals university officials have been sifting through as they explore ways to make money off of valuable UNM property."

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Labels: Albuquerque Real Estate

ABQjournal West_News: Sewer Project Set to Begin: "Patience is a virtue.
And that is what residents along Rio Grande Boulevard from Chavez Road to Paseo del Norte will need for the next year while Bernalillo County installs a new sewer line.
The line will run down the middle of Rio Grande Boulevard, according to Lisa Manwill, project engineer.
The Area I and J sewer project will begin Monday and will take a full year to complete, Manwill said.
But village of Los Ranchos Mayor Larry Abraham said there is a bright side."

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Labels: North Valley

Tesla Motor's original plan back in place : Local : Albuquerque Tribune: "Tesla Motors' plans for a West Side manufacturing plant are back where they started.
The San Carlos, Calif., electric car company plans to move forward with the 155,000-square-foot assembly plant it planned when announcing its intentions in February."

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Labels: Albuquerque Business

Housing market looks to 3Q for turnaround - New Mexico Business Weekly:: "The light at the end of the downturn is in sight for Albuquerque, and it should start to burn in the third quarter of 2008.
Jim Folkman, executive vice president of the Home Builders Association of Central New Mexico, jokes that the national press missed the dot-com bust of the late 1990s, and doesn't want to miss the real estate bust.The light at the end of the downturn is in sight for Albuquerque, and it should start to burn in the third quarter of 2008.
Jim Folkman, executive vice president of the Home Builders Association of Central New Mexico, jokes that the national press missed the dot-com bust of the late 1990s, and doesn't want to miss the real estate bust."

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Is the sky falling? Not hardly. If you watch and read national news you would get the impression that the housing market is in turmoil everywhere. Not true. Real Estate markets are localized and need to be looked at neighborhood by neighborhood.

The Albuquerque Real Estate market is slow but steady. For Buyers, is a great time to look for a home. Lots to chose from and great prices!

Some facts regarding the real estate market.

• 95% of all the mortgages in the USA are current.
• 35% of all the homes have NO mortgage.
• The foreclosure problem is a 7 state problem. States that have lost jobs... Michigan, Ohio, and Indiana due to lost jobs. The other states are California, Nevada, Florida and Arizona. These states had huge price appreciations a few years ago and are now paying for it.
• The other 43 states (including New Mexico) - foreclosure rates have fallen when comparing 2006 to 2007.

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RealEstateJournal Tips for Buying A Foreclosed Home: "Meanwhile, as you have noted, bargains abound, particularly in foreclosure properties. While many Web sites sell foreclosure information (sometimes after letting you sample the Web site for a week-long free trial), you don't have to pay an online membership fee to find them. Title companies, real-estate agents and lenders -- including credit unions -- all have information on homes in various stages of foreclosure."

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RealEstateJournal Bush to Revive Push For Housing Remedy: "WASHINGTON -- With public sentiment on the economy still sagging, President Bush will make a new push for congressional action to shore up the troubled housing market, a top aide said.
In an impromptu briefing aboard Air Force One as Mr. Bush returned from his Texas ranch, top communications adviser Ed Gillespie told reporters that the president wants Congress to do more to 'help make the market more stable.' The administration sees 'an opportunity for bipartisan consensus' on a housing initiative,"

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Real Estate Sales Tips for Winter 2008: "Although winter is notoriously sluggish in terms of real estate shopping, the downtime provides a golden opportunity for homeowners to enhance their property's marketability. Here are five simple ways to pump-up your listing, even during the winter lull:"

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NAR: Research: Real Estate Insights: The Forecast: "The economy is slowing. In the fourth quarter, GDP growth will have shrunk for the first time since the 2001 recession. The projected decline is only 0.4 percent, but it is nonetheless a decline. Because of the lag time in data collection, economic shrinkage will be reported in late January. At that point there will be shouts of RECESSION, RECESSION, and RECESSION.

Beware of Doomsdayers
No worries though. Technically an economic recession comprises two consecutive quarters of contraction. (It is measured that way because only a sustained economic contraction leads to sustained net job cuts.) The projected fourth quarter decline is due to cutbacks in residential construction activity and from a statistical “quirk” in business inventory investment. The business inventory components generally regain quickly. The inventory-to-sales ratio is touching record lows (i.e., companies are operating with thin inventory) and some build-up in business inventory is inevitable going into 2008. The cutbacks in residential construction are continuing but most of the major declines have already occurred. Subsequent construction declines in 2008 will have less of an impact. Housing starts have fallen from their 1.5 million unit pace in the early part of 2007 to 1.2 million in the latter part of 2007. For 2008, housing starts are projected to be 1.15 million units – weak activity but still a rather mild decline from the final quarter of 2007."

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RealEstateJournal How to Sell A Home in 2008: "If you're planning to sell a home in 2008, it's time to start thinking about how to make that home stand out from the rest.
But beware: Homeowners aren't able to recoup as many improvement costs as they did in recent years, according to a recent study by Remodeling magazine. In selling a home, 'it's more important that it's neat, it's clean and it looks spacious, rather than making sure it's the top of the line,'"

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Astana Cycling Event: "The Astana Cycling Team, led by Johan Bruyneel, formerly of Team Discovery, will train in Albuquerque January 23 – February 4, 2008. The 2008 Astana team includes eight-time Tour de France team director and Astana General Manager Johan Bruyneel, the 2007 Tour de France Champion Alberto Contador, and the 2007 USA National Road Champion Levi Leipheimer.

This high-profile team has chosen Albuquerque for their winter training camp to prepare for the 2008 cycling season because of the high altitude, mild weather and supportive local community that New Mexico has to offer."

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NAR: Existing-Home Sales Rise in November, Market Likely Stabilizing: "Existing-home sales rose slightly in November, indicating a stabilization in housing in the wake of mortgage disruptions earlier this year, according to the National Association of Realtors®. Existing-home sales rose slightly in November, indicating a stabilization in housing in the wake of mortgage disruptions earlier this year, according to the National Association of Realtors®."

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Environment Department offers free radon testing - New Mexico Business Weekly:: "The New Mexico Environment Department will offer free radon test kits for residents throughout January. It's part of an effort to raise awareness of naturally occurring radioactive gasThe New Mexico Environment Department will offer free radon test kits for residents throughout January. It's part of an effort to raise awareness of naturally occurring radioactive gas"

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