| Venturi Team's Albuquerque Real Estate Blog
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Sunday, May 25, 2008
Jumbo conforming rates come down to earth Inman News: "Jumbo conforming loans eligible for purchase by Fannie Mae and Freddie Mac are now available at nearly the same interest rate as conventional, conforming loans, executives at the companies told lawmakers this week. But the credit crunch is keeping rates elevated on jumbo loans Fannie and Freddie can't buy, and the government-chartered companies could lose their ability to buy mortgages above the $417,000 conforming loan limit at the end of the year if Congress doesn't act." Albuquerque Home SearchAlbuquerque Real Estate News HomepageLabels: Mortgage News
ABQJOURNAL BIZ: For Small-Business Owners, Buying A Commercial Condo Could Spell Success: "For Small-Business Owners, Buying A Commercial Condo Could Spell Success By By Richard Metcalf Albuquerque Journal Staff Writer The “Condo Craze” is over. Two years ago, the buzz in commercial real estate was the popularity of office and industrial condominiums, defined as for-sale units in multitenant buildings. Now there's an oversupply with hundreds of condos on the market amounting to an estimated 1 million square feet or more of space in the Albuquerque metro area. And many potential condo buyers, typically small business owners, are wary of committing to a condo purchase in light of the uncertain economic times... Labels: Albuquerque Commercial Real Estate
ABQJOURNAL HOMES: Astante Villas Features Paired, Side-By-Side Homes: "DR Horton, which bills itself as “America's Builder,” is determined to provide innovative residential design for master-planned communities. The builder's new Astante Villas community at Rio Rancho's Cabezon Communities lets home buyers choose to live in ways different from the suburban norm of one house, one family, one yard." Albuquerque Real Estate Search Rio Rancho Real Estate News
Albuquerque Real Estate News Labels: Rio Rancho Real Estate
Thursday, May 22, 2008
Emerald ribbon cutting next week - New Mexico Business Weekly:: "A grand opening for downtown Albuquerque's brand-new Emerald Building office condo is scheduled for Friday, May 30, from 4 to 7 p.m. Space at the green-glass-encased 25,000-square-foot building, at 1121 4th St. NW at Rosemount Avenue and north of Mountain Road, is going for $185 to $300 a square foot. It features energy efficiency, fiber optic communication and gated parking. A grand opening for downtown Albuquerque's brand-new Emerald Building office condo is scheduled for Friday, May 30, from 4 to 7 p.m. Space at the green-glass-encased 25,000-square-foot building, at 1121 4th St. NW at Rosemount Avenue and north of Mountain Road, is going for $185 to $300 a square foot. It features energy efficiency, fiber optic communication and gated parking." Albuquerque Real Estate Rio Rancho Real Estate News
Albuquerque Real Estate News Labels: Albuquerque Business, Albuquerque Commercial Real Estate
Wednesday, May 21, 2008
East Gateway Sector Development Planning Process - Official City News: "YOU ARE INVITED TO START the East Gateway Sector Development Planning Process with a team from the City of Albuquerque, Architectural Research Consultant, Glatting Jackson Kercher Anglin and Robert Charles Lesser and Company. Bring a neighbor! Date & Time: Thursday, May 22, 2008 6:30 p.m. - 8:30 p.m. Place: Manzano Mesa Multigenerational Center 501 Elizabeth Street SE" Albuquerque Real EstateAlbuquerque Real Estate NewsLabels: Albuquerque Development
Monday, May 19, 2008
We just listed this once loved home. It is in need of some TLC but has great potential. Home is livable as-is and was occupied until recently. This large home features 4 bedrooms, an oversized family room, a large yard and is in a beautiful NE Heights neighborhood. Being sold as-is but for a handyman. Seller financing available with 20% down. Albuquerque Real EstateAlbuquerque Home PricesAlbuquerque Real Estate News
ABQJOURNAL HOMES: Packed With Luxury: "As an award-winning builder for nearly 20 years, Betty Blea has learned to combine complementary home styles for a unique look that's all her own. The builder, president of Homes by Marie, describes her model home at Rancho de Candelaria as a Southwestern and Tuscan blend with a few contemporary touches thrown in for good measure. The eight-lot gated community off Candelaria Road near San Isidro, offers half-acre lots for Blea's signature custom homes in an older neighborhood still criss-crossed with irrigation ditches. The infill location is close to Old Town, the Rio Grande Nature Center State Park and Valley High School." Albuquerque Real EstateAlbuquerque Home PricesAlbuquerque Real Estate News
Saturday, May 17, 2008
Real Estate and Home Buying Site- Relocate-America's™ 2008 Top 100 Places to Live: "Relocate-America's™ Top 10 Places to Live in 2008" From www.relocateamerica.com:"The largest city in New Mexico, Albuquerque boasts a unique multicultural heritage and history where Native American, Hispanic & Latino, Anglo and other cultural influences are a part of everyday life. The Albuquerque MSA population includes the city of Rio Rancho, one of the fastest growing cities in the United States, a hub for many master-planned communities which are expected to draw future businesses and residents to the area. During the 21st century, the Albuquerque population has continued to grow rapidly, the city proper and metro area population have both increased 13% from 2000 to 2006, and this trend is expected to continue." Albuquerque NM Real EstateAlbuquerque Real Estate News
Friday, May 16, 2008
How To Sell Your House In A Buyers Market: "In todays real estate market, buyers are choosier, homes are staying on the market longer, and prices aren't rising as quickly as they once did. In many real estate markets in the past, sellers have wielded more power than buyers. But in todays market, buyers are gaining more leverage. Sellers are reluctant to drop their asking prices, but a lot of them might have to 'because the buyers now have a little more control, a little more power.' With stricter lending laws, a rise in home foreclosures, and builders offering incentives to buy new construction homes, the existing home market has become more difficult to move. With a limited number of buyers who can qualify for a mortgage, buyers can make favorable demands to get the best deal on their behalf." Albuquerque Home SearchAlbuquerque Real Estate News
Wednesday, May 14, 2008
REALTOR® Magazine-Daily News-Buyers Willing to Pony Up for Green: "Home buyers will gladly pay a premium for granite countertops and walk-in closets. But will they dig deeper for better insulation, energy-saving appliances, and efficient heating and cooling systems? Increasingly, the answer is yes, said the panelists at Tuesday’s Land Use, Property Rights, and Environment Forum at the 2008 REALTORS® Midyear Legislative Meetings here in the nation's capital. “We’re on the crest of a wave that's continuing to grow,” said David Rodgers, deputy assistant secretary for energy efficiency in the U.S. Department of Energy. “The mission is to do more with less, not less with less. This is not about sacrificing or putting on a sweater. It’s about making investments that do more.” Houses use more than 20 percent of the nation’s energy, according to government statistics, and U.S. households waste more than $300 billion every year because of inefficient energy use." Albuquerque Real EstateAlbuquerque Real Estate News
Monday, May 12, 2008
We are CBS! Air Force base works with developers to lessen nuisances: "Associated Press - May 5, 2008 10:05 PM ET ALBUQUERQUE (AP) - Kirtland Air Force Base officials signed agreements today with Mesa del Sol, LLC, to lessen nuisances to future residents of the development. 1 of 3 agreements allows the base to conduct military aircraft operations in the public air space above the development on the southern edge of Albuquerque. Base officials also agreed to inform residents on the far eastern side of Mesa del Sol that noise made during explosives testing might impact their property." Albuquerque Real Estate ListingsAlbuquerque Real Estate News
Sunday, May 11, 2008
ABQJOURNAL HOMES: Two Downtown Albuquerque Projects Offer Spacious Townhomes at Market Prices"Across Second Street from the new Barelas Townhomes is the old Albuquerque rail yard, an up-and-coming renovation project that eventually is projected to house a film studio, retail and housing. “It doesn't get much more urban than this in Albuquerque,” said Louis Kolker, executive director of the Greater Albuquerque Housing Partnership, the townhome developer. The Second Street location between Central Avenue and Avenida Cesar Chavez is home to the Partnership's most recent housing project — the Barelas Townhomes Across from the Rail Yard. Six two-story townhomes are now completed with another four to come. The contemporary-style townhomes, with plentiful glass and architectural detail to match the old locomotive repair shops across the street, are the Partnership's first foray into market-priced housing." Albuquerque Real EstateAlbuquerque Real Estate News
From Ezine: IRA Real Estate Investing"You can obtain real estate with funds from a self-directed IRA. Income generated from the real estate is able to be TAX DEFERRED and in a few cases TAX FREE! Real estate has in history proven itself to be a great vehicle for both income as well as appreciation. One tool that is accessible to real estate investors are government sponsored retirement plans. You might not be aware that you have the alternative to direct your IRA into real estate." See Complete Article... IRA Real Estate InvestingAlbuquerque Real EstateAlbuquerque Home PricesAlbuquerque Real Estate News
Saturday, May 10, 2008
30-Year Avg: 6.05 , 30-Year Pt: 0.3 , 15-Year Avg: 5.60 , 15-Year Pt: 0.3 , 5/1-Year Avg: 5.67 , 5/1-Year Pt: 0.5 , 1-Year Adj: 5.29 , 1-Year Pt: 0.6 Freddie Mac's Primary Market Mortgage Survey: "LITTLE MOVEMENT IN MORTGAGE RATES SEEN THIS WEEK McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.05 percent with an average 0.3 point for the week ending May 8, 2008, down very slightly from last week when it averaged 6.06 percent. Last year at this time, the 30-year FRM averaged 6.21 percent." Albuquerque Real EstateAlbuquerque House Values
Thursday, May 8, 2008
Green Built Tour New Mexico - USGBCNM: Greenbuilt tour 2008. Visit the finest sustainable homes and businesses in Albuquerque, Santa Fe and beyond. May 17th and 18th • 10AM to 4PM Albuquerque Real EstateAlbuquerque Home PricesAlbuquerque Real Estate News
New Mexico Tourism Department News and Press Releases: "Governor Bill Richardson Kicks Off Final Phase of Construction for the Rail Runner Express Governor Bill Richardson, Transportation Secretary Rhonda Faught, and a group of dignitaries April 24, 2008 celebrated the start of the final phase of Rail Runner construction in Santa Fe. “There has never been a better time, or a greater need for this kind of public transportation,” Governor Richardson said. “Ever-rising gas prices are busting budgets and crushing consumers, and an affordable and economical choice like the Rail Runner is a great alternative.”" http://www.nmrailrunner.com/Albuquerque Real EstateAlbuquerque Home PricesAlbuquerque Real Estate News
Tuesday, May 6, 2008
Options for Buyers when you need to move-in now and sell current home later.
From: WelcomeHomeABQ.com So... you need to move but you can't sell your existing home until after you move. If you can afford and qualify for two house payments, no problem. But what if you can't... here are some options. •1) Seller Financing - Ask the seller for a short term Real Estate Contract (REC). This is difficult for the seller if the down payment is small. They will need 8-9% of the sale price just to pay their closing costs, so unless your down payment is large enough, they would have to bring their own money to the closing table to sell on a REC. Also, their agent will want financial information on you and a lender letter to ensure their confidence level is high that you will be able to follow through with the purchase and pay off the REC as per the contract terms. •2) Lease/Purchase. This is where the purchase offer includes, as a part of the offer, a date in the future to close on the home but lease it in the meantime at _x_ dollars monthly/daily. We go through the offer/counter offer process and come to purchase and lease terms all at the same time. Again, the seller is going to want your financial information and a letter from a lender saying you will be able to close on the home as soon as your home sells. The closing date on the purchase part can say contingent upon home located at _____ closing and funding. This might be the most viable option for you someone with a small down payment. •3) Of course a contingent offer is always an option, but would not allow for moving-in prior to selling current home. The good thing is it provides a comfort level of knowing where you will be. Most accepted contingent offers have about a 60 - 90 day closing offered and the sellers can continue to market the property if they do a "right of first refusal" as a counter offer to your offer. This is where they accept your offer with the contingency, but say if another offer comes in that they want to work with, they would give you 24 (or 48 or 72) hours to either remove your contingency and solidify your deal, or they could work on their other offer and you can lose the home. Many agents are hesitant to show homes with a right of first refusal as they know it can be emotional and difficult.
Albuquerque Home Prices Free On-Line Report: "In today’s intensely competitive Albuquerque Real Estate Market, Albuquerque Realtors are providing a powerful new tool for home owners. For many people, their home represents a large portion of their net worth. Homeowners want to know… What did the home down the street sell for? How long did it take to sell? What homes are for sale in my neighborhood? And most importunately, what’s my home worth? A new technology provides this for any who ask. And it’s free!" Albuquerque Real EstateAlbuquerque House Values
ABQjournal Homes: Energy-Efficient Home First to Be Awarded Sustainable Building Tax Credit: "Energy efficient features ranging from compact fluorescent lighting to foam insulation helped to put money back into the pockets of the builder of Albuquerque's first home to be awarded the sustainable building tax credit. The contemporary Tuscan-style home built by Keystone Custom Homes may look similar to its upscale neighbors in North Albuquerque Acres, but it is filled with design features and products that help conserve energy, water and building resources." http://www.albuquerque-home-prices.com/Rio Rancho Real Estate News Albuquerque Real Estate News
ABQjournal Metro: Southeast Getting a Face-Lift: "While growth strategists tout Mesa del Sol as the model of a well-planned development in Albuquerque, another neighborhood has brought the virtues of the live, work and play style of growth to town. Spurred by the creation of Sandia Technology Park a decade ago, Albuquerque's southeast has sprung to life as a booming center for new housing, jobs and retail." Albuquerque MLSAlbuquerque Home Prices Rio Rancho Real Estate News Albuquerque Real Estate News
ABQjournal Business: 3rd Phase of ABQ Uptown Includes Hotel, Offices, Shops, Condos and Parking Structures: "Quorum, the moniker of Hunt Development Group's final and arguably most ambitious phase of its ABQ Uptown development, is designed to capture a densely developed and stylishly designed mix of uses. Included in the $100 million project are a seven-story hotel, offices for both lease and purchase, shops, residential condos and extensive parking structures on the now-vacant 7.5 acres bounded by Louisiana, Indian School and Uptown Loop NE." Albuquerque Home Search Rio Rancho Real Estate News Albuquerque Real Estate News
Saturday, May 3, 2008
KOB.com - ABQ a top city for clean air: "A study by the American Lung Association rated the Duke City as one of the country's top big cities for clean air. In fact, many spots in New Mexico got the green thumbs up. Both Santa Fe and Farmington are in the country's top five in terms of lack of long term pollution." Albuquerque Real Estate Albuquerque Open House Search
Friday, May 2, 2008
ABQjournal Business: In N.M., Building Green Yields Green in Return: "The Sustainable Building Tax Credit was passed as part of N.M. Senate House Bill 463 last year. New Mexico is the first state to offer such a comprehensive tax credit for green buildings. Although Oregon and Oklahoma have some type of green building tax incentive, the state tax credit is the first to offer tax relief for both green residential and green commercial buildings. The tax relief requirements are rigorous and include not only a third-party validation by the LEED rating systems and BuildGreen NM, but also a stringent energy reduction requirement." Albuquerque HomesRio Rancho Real Estate News Albuquerque Real Estate News
ABQjournal Homes: Upscale Development Offers Proximity to Old Town, Downtown With the River as a Backdrop: "With the Rio Grande Bosque as a backdrop, the Puesta del Sol residential development appeals to homeowners interested in the quick drive across the Central Avenue bridge to Old Town or Downtown. Or, some residents might choose to skip the drive and instead hike along the river's edge in hopes of spotting a beaver or coyote sharing the cottonwood canopy." Albuquerque HomesRio Rancho Real Estate News Albuquerque Real Estate News
ABQjournal Metro: 'Extreme' Dream Home: Family Still in Awe of New House and Generosity That Went Into Building It: "Some three months after Gerald Martinez and his family's Trumbull neighborhood property was transformed, thanks to 'Extreme Makeover: Home Edition,' it's all still sinking in. 'Let me tell you what I do every day when I get up,' said Martinez, lead pastor at Joshua's Vineyard Mission Outpost. 'I look around, and I'm shocked. Every time I walk into the house, I stop at the entryway and I look around, and I'm flabbergasted." Albuquerque MLSRio Rancho Real Estate News Albuquerque Real Estate News
Thursday, May 1, 2008
REALTOR® Magazine-Daily News-Open Houses Seen as Key Today: "Many real estate practitioners are holding open houses now that the market has slowed, viewing such events as a good way to maximize exposure. According to David Williams of Utah-based Williams Realty, 'An open house can be a great way to get feedback on a house and validate the price. It also exposes the home to buyers who are not currently working with a practitioner and may not be aware of the home's availability.'" Albuquerque HomesRio Rancho Real Estate News Albuquerque Real Estate News
30-Year Avg: 6.06 , 30-Year Pt: 0.5 , 15-Year Avg: 5.59 , 15-Year Pt: 0.5 , 5/1-Year Avg: 5.73 , 5/1-Year Pt: 0.5 , 1-Year Adj: 5.29 , 1-Year Pt: 0.6 Freddie Mac's Primary Market Mortgage Survey: "McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.06 percent with an average 0.5 point for the week ending May 1, 2008, up from last week when it averaged 6.03 percent. Last year at this time, the 30-year FRM averaged 6.16 percent." Albuquerque RealtorsRio Rancho Real Estate News Albuquerque Real Estate News
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