Albuquerque Real Estate News: October 2008

For more info about this topic, preview the link below from the Albuquerque Journal. http://www.abqjournal.com/west/311220474038west10-31-08.htm

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Corrales New Mexico is a great rural setting yet right at the edge of the metropolitan Albuquerque area. We usually visit Gus Wagner's Farm a few times during the fall to get our roasted Green Chile… sweet corn, any yes, caramel apples, too. This year, we've visited several times and just can't get enough of the wonderful smell of the roasting chile. We even went back to get pumpkins last weekend and since they were still roasting chile, we bought yet another sack of green so our freezer is overflowing and the Green Chile is sure to last a few months. J With our home being in Corrales, we really enjoy the benefits of the small village feel, the horses, llamas, goats, sheep, hay and corn fields, and friendly neighbors that come along with it. It always amazes me to drive out of Corrales and have great shopping and restaurants right here. While Corrales isn't for everyone, it sure is great for us.
Tracy

If you want to see Corrales homes for sale visit our Corrales Real Estate search Page.

So sad to hear that Albuquerque's Tony Hillerman passed away. I used to be his neighbor in the North Valley and enjoyed his wildflower garden at his home - although they converted it as it was hard to maintain ...
I remember reading my first Hillerman novel and being taken away to a different place and learning so much about the Native Americans as I read. What a legend for New Mexico and for the Navajo Nation, and what a loss. Here's a link to the Washington Post article about his passing.
My thoughts are with his family,
Tracy

Tony Hillerman, 83; Penned Navajo Series - washingtonpost.com: "Tony Hillerman, 83, a New Mexico writer who brought the police procedural into new territory with compelling novels set on the Navajo Reservation, died Oct. 26 at Presbyterian Hospital in Albuquerque"

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To build or not to build? That is the question regarding building a new downtown arena in Albuquerque. With the struggling economy, can we really afford it right now? Look to the North in Rio Rancho with its own arena issues. Here is the story from the Journal. ABQJOURNAL NEWS/METRO: Report Favorable on Arena:

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Full steam ahead for Hewlett-Packard's state-of-the-art customer service and technical support center in Rio Rancho. For more details click on the link below to read the article by Jimmy Currier of the Rio Rancho Observer.

News : Council approves $5.2 million bond for Hewlett-Packard - Rio Rancho Observer: "The day that Hewlett-Packard breaks ground in Rio Rancho is getting closer"

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The Venturi team is happy to inform you about the improvements recently made by Realtor.com to their website.  This site features better photo quality, easier access, number of clicks thru search reduced and it is user friendly.  Realtor.com is a great marketing tool that we use because of its superb marketing exposure.

For more information about Realtor.com & its improvements, click on the link below.
http://www.realtor.org/press_room/news_releases/2008/realtor_launches_new_site

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We are moving... Our new site will be at http://albuquerquerealestatenews.com/.  This will be a resource for keeping up with the Albuquerque Real Estate market news and happenings.

If you or someone you know is facing foreclosure, be sure to talk to a real estate broker that is experienced in short sales and has the knowledge and tools in place increase the chance of success.


Visit our Albuquerque Homes website for Albuquerque area homes search and listings.
http://www.albuquerquerealestatenews.com/

Yes… this headline looks like bad news, and for the home builders it is. The slowdown in home construction impacts jobs and limits the choices for home buyers. But… the good news is that builders are not building homes that they can’t sell. A glut of inventory does not help anyone. I think the Home Builders in Albuquerque have done a good job adjusting to the Albuquerque Real Estate Market and not “over building”. The numbers just reflect the realities on the market. We have also seen a trend with builders adding smaller, more affordable homes to their line-ups.
One thing I have noticed is that resale home prices are more attractive than the new construction in many cases. Many of the resale homes on the market today could not be built for the prices they are selling for.

Housing permits hit 12 month low in Sept. - New Mexico Business Weekly:: "The Albuquerque metro region home building market continues to fizzle.
Just 75 permits were issued to builders in September, making it the slowest permit activity in 12 months. This contrasts with the 185 permits pulled in Sept. 2007."


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http://www.albuquerquerealestatenews.com/

May people do not know this, but money from a self directed IRA can be used to purchase Real Estate as an investment. It’s a great way to diversify investments and buy “Real Property” that does not have the fluctuations and turbulence like the equities markets do. Many people think that investment Real Estate means rental properties, but Vacant Land can be an excellent investment option as well. In most cases Vacant Land has no maintenance and will appreciate over the long term.

One of the local IRA Custodian companies has a press release with some more information…

Sunwest Trust, Self-Directed IRA Custodian, Is On Pace For Largest Expansion: "Albuquerque, N.M, October 20, 2008 -- Sunwest Trust, Inc. the New Mexico Company that acts as an escrow agent and self-directed IRA custodian, claims the self directed IRA funds placed with their firm are FDIC insured through local banks. Sunwest Trust further claims that it is financially sound and is not directly affected by the day-to-day volatility of the stock market. Since Sunwest Trust’s clients are self-directed, their investments are under each client’s direct control and are diversified in non-traditional assets, which are not directly indexed to the ups and downs of the stock market."

isit our supersite for more information on Albuquerque Real Estate for sale and to search for homes and land in Albuquerque and Rio Rancho.
http://www.albuquerquerealestatenews.com/

HUD puts out list of HOPE lenders Real Estate and Technology News for Agents, Brokers and Investors Inman News: "Federal housing officials have compiled a list of lenders participating in the HOPE for Homeowners program, which they say could help as many as 400,000 homeowners avoid foreclosure by refinancing problem loans into new 30-year fixed-rate mortgages insured by the Federal Housing Administration."

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