25 Punta Linda New Listing
February 8, 2014
Announcing NEW LISTING:
25 Punta Linda (10.25-acres) 3155 sqft, 4-5 Bedrooms, 5 bath, Guest House
Located on one of best streets in the prestigious San Pedro Creek Estates. Perched on the high portion of the massive 10-acres for maximum view. Pure Pueblo style home with Viga ceilings overlooking the red rock canyon vistas and 100 mile view to Santa Fe and Jemez. Large but cozy guest home with kitchen. Enjoy hiking nearby in over 2000-acres combined unspoiled natural open space. Six luscious fruit trees: 2 Cherries, Antique Apple from Maine, Pear Tree, Peach Tree & Plum Tree. Once you walk into the great room and see the view you will be home at last... Welcome to 25 Punta Linda
ABQ #1 Best Urban Destinations for Nature Lovers
August 13, 2013
Courtesy of www.Weather.com
If your guess for the best city for nature lovers was Albuquerque, give yourself a pat on the back. The town of roughly half a million people might have been rated TravelNerd's top town because of the seven national parks within 100 miles. Or it could have been because nearly 30 percent of the city is devoted to parks. The air is clean and the landscapes are beautiful, so when the numbers were crunched, Albuquerque was an easy pick for the best city to get away if you want to explore nature.
Sandia Park Real Estate has access to nearly 40,000-acres of open space. San Pedro Creek has access to approximately 3000-acres of open space.
Underappreciated Albuquerque
May 8, 2013
Time to revisit underappreciated Albuquerque
George Hobica, special for USA TODAY9:54 p.m. EDT May 8, 2013
The historic city of Santa Fe and the artist — and ski bum — haven of Taos get all the love when New Mexico is mentioned. But Albuquerque? Until the hit TV show Breaking Bad came along, I'm guessing most travelers didn't even give the state's largest city a second thought, and those who did were just trying to figure out how to get from the airport to some place else. Too bad they didn't know: Albuquerque is one of the West's most unique cities, a relaxed but interesting town that deserves a lot more attention. If you haven't visited lately, or ever, please do stop by. Here's what I like best about this city on Route 66.
Multi-cultural before it was hip
There are precious few places in the United States that remain almost completely true to their heritage; New Orleans is a famous example, but New Mexico's up there, too. Officially founded in 1706, Albuquerque is the newbie around these parts. Matter-of-factly multicultural, the city got its start in what's now known (appropriately) as Old Town; at the neighborhood's center stands the church of San Felipe de Neri. Join the faithful at morning mass - at 7:00 a.m., every day except Thursdays and Saturdays - and soak up the seriously old-school vibe. You don't have to be Catholic to be impressed.
San Pedro Market Turning a Corner?
January 8, 2013
by Will Beecher
Is the San Pedro Creek Market Turning a corner? My sales data says "Yes"! I have personally sold 5 homes ranging from $511,000 up to $840,000 in the last 6 months:
1 Punta Linda
35 Punta Linda
37 Camino Real
117 Turquoise Drive (HGTV Dream Home)
22 Punta Linda - Pending
I have also sold 13 Land Parcels for 2012 in San Pedro Creek & San Pedro Overlook.
Additional $500,000+ home sales:
5 Punta Linda
8 Arroyo Bonito
67 Via Entrada
2 La Quinta - Pending
I think the market is finally saying that these large lot estates with the best views in the state are in demand! I believe this whole heartedly and it shines through to all my clients. I hope this a good sign for a prosperous 2013. Happy New Year San Pedro!
Sandia Park Real Estate
July 23, 2012
Detached pending home sales in the Greater Albuquerque real estate market exceeded 1,000 for the 3rd time this year with an increase of 12% from the previous year, according to the Greater Albuquerque Association of REALTORS®. Closed sales for detached single-family homes also fared better than the previous year by 4.10%.
June was the 3rd month in a row with year-over-year increases in the average and median sale prices. The median sale price for June 2012 was $172,700 and the average was $207,679.
"It’s exciting to see this many pending sales", said Marc Guggino, 2012 GAAR President, "and with improved sale prices this may turn out to be a really great year for real estate."
The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3000 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is recognized as a leading provider of real estate information services, data and education in New Mexico.
New Construction... signal of Market Bottom?
June 30, 2012
Housing Starts in June highest in four years
By Paul Davidson, USA TODAY
Housing starts jumped 6.9% in June to a 3 ½-year high, underscoring the residential real estate's slow recovery as a bright spot in a sputtering economy.
Workers frame a home in a new community in Gilbert, Ariz. Real estate experts say the Phoenix metro housing market is recovering faster than other U.S. cities.
Construction of homes and apartments rose to a seasonally adjusted annual rate of 760,000 in June, the Commerce Department said Wednesday. That exceeded analysts' estimates and was the highest level since October 2008. Single-family home starts increased 4.7% to 539,000, highest since March 2010, though activity that year was inflated by a federal tax credit for home buyers.
Building-permit applications, a barometer of future construction, fell 3.7% to a seasonally adjusted pace of 755,000, but the decline was driven by a 10.9% drop in multifamily permits, which can be volatile.
After hitting all-time lows in the recession, single-family starts began to pick up the second half of last year and kicked into higher gear the past six months. Multifamily construction began to turn up about 18 months ago as Americans who lost their houses to foreclosure, among others, turned to renting.
Highest 1st Quarter Sales Since 2008
April 23, 2012
Albuquerque
1st Quarter 2012 single-family home sales increased 11.75% from 1st Quarter 2012, also making it the highest year over year 1st Quarter gain in home sales since 2008. Average sale prices saw a 6.26% reduction from 1st Quarter 2011 while the median price saw a 3.61% drop from the same period.
"The real estate market is ready for good news," said Marc Guggino, President of the Greater Albuquerque Association of REALTORS®, "and this is the third consecutive quarter that sales have improved over the same quarter the prior year" "Supply and demand economics is starting to work," said Guggino. "Inventories are low, interest rates are low and the consumer is anticipating that prices will soon stabilize, all factors that encourage them to get back into the market," he continued.
The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3000 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is recognized as a leading provider of real estate information services, data and education in New Mexico.
Hail Damage - Sandia Park
March 18, 2012
by: Will Beecher
Dear SPCE/SPO Residents/Sandia Park:
Follow up: Roof Hail Damage - Last year to make Claim from 2010 Storm (2 year rule)
We have recently encountered two more roofs in San Pedro Creek that have severe hail damage from the December 2010 hail storm. Most hail damaged roofs are being discovered without leaks. So do not wait until you have a leak to get a free inspection. The roof problems should be inspected and rectified before the damage turns into leaks and ultimately more serious damage occurs. San Pedro Creek residents can get a free inspection from Wade Taylor 505-225-0606 or RoofInspectionFree@gmail.com. Wade has already handled 10 roof claims out in San Pedro Creek successfully. The reason folks need to call Wade Taylor is that residents who have called their independent insurance companies normally get denied. Upon further review from a hail damage expert, Wade Taylor challenges the insurance company on the owners behalf by pointing out all the damage that they try to initially deny exists.
Sandia Park Real Estate - Will Beecher
2/21/2012
As of February 2012, Mr. Will Beecher earned membership of the two highest regarded Realtor Groups in the Greater albuquerque Area: Elite 25 Realtors & New Mexico Select. These special invitation only memberships is attained by having multiple transactions within the luxury real estate home market.
Click on the logos below to learn more about these organizations:
Sandia Park Real Estate 87047 Average Home Prices
1/11/12
by Will Beecher
An Interesting statistic about Sandia Park is the average home price. The 87047 (Sandia Park) Zip Code is the highest valued zip code in all of the East Mountains. Home prices average nearly $500,000. This is important to recognize when looking for property in the mountains just 20 minutes outside of Albuquerque. "Location, Location, Location" is an old saying to never forget when shopping for real estate in the Mountains. Protecting your investment is important by selecting the established valuable areas to maintain a sound long term investment.
The last home I sold in Sandia Park sold quite a bit below the $500,000 median average and I believe that is why it appraised for 10% higher than the purchase price.
Feel free to consult me about which areas in the East Mountains to buy and protect your long term stake. With 14 years experience in this specific market, I am a true expert of Sandia Park and the surrounding areas.
Albuquerque Real Estate
FORECLOSURE NEWS
November 4, 2011
A statistic we all hate to hear made news after 3rd Quarter 2011. Albuquerque ranked #1 for foreclosure increases compared to 3rd quarter 2010. Quite an amazing statistic in my opinion. The good news was ABQ values are still more stable than the national average.
1. Albuquerque, N.M.
2. Boston, MA
ABQ Quarterly increase in foreclosures: +151%
# of Foreclosures Q3 2011: 1,358
Unemployment: 6.9%
% home value down from peak: -14.9%
Albuquerque’s housing market, like Boston’s, is relatively healthy. While home prices decreased 32.3% nationally after their peak, home prices in Albuquerque only decreased 14.9% since they peaked. Regardless, foreclosures have recently skyrocketed. In the third quarter of 2011, the number of foreclosures in Albuquerque increased 151%. According to New Mexico Business Weekly, the lack of job creation in the area has been a major contributor to this problem.
ABQ Real Estate Q3 Results
More Sales, Less Money, Bottom?
September 30, 2011
By: Will Beecher
The Greater Albuquerque Area Sales in Quarter 3 increased by +15%. However prices still declined more than -9%.
The good news is that we are seeing more sales; the bad news is sellers are getting less money for their property. Even in the East Mountains, which in more of micro-market, closed sales increased by 10%, but prices fell almost -10%.
However, this is interesting data because could this a sign of a bottom? If people are buying more property but prices declined again even from 2009 levels. The conclusion is we have finally reached price levels where buyers are willing to buy more property.
This is why 2012 is going to be a crucial year to gauge the market direction. We need to see stabilization in prices with an increase in closed sales.
Albuquerque Real Estate
Next Stimulus Must Be for the Housing Market
August 23, 2011
As investors anxiously wait to see whether or not Fed Chairman Ben Bernanke has another rabbit up his sleeve, at least one pro is calling for the next round of stimulus to come from the government rather than the Federal Reserve.
"If you look at the economy, it is slowly coming back, but there is one area - a massive area - that has hit this economy for the last two years, and its housing," says Don Hays, President and Chief Investment Strategist of Hays Advisory. He wants policymakers to try something new and different that will jump-start the entire economy, not just the banking sector. As much as stimulus has become a much harder sell in Washington, D.C. these days, I think a populist pitch to prop up housing might just catch on.
Hays is particularly fond of a proposal that is being circulated by Ed Yardeni that would make rental income tax-free for a decade to encourage investment into vacant homes. Given the dubious benefits derived from the first few rounds of stimulus and easing, a handout to housing seems at least worth a try.
Sandia Park Real Estate - San Pedro Creek
July 10, 2011
Sandia Park Real Estate - San Pedro Creek Estates: Update
Will Beecher is proud to announce he has sold the highest priced home in San Pedro creek in 5 years. Will Beecher sold 3 Punta Linda for $980,000 which is equal to $290 a foot.
Another home on 16 Via Alcalde also sold for $835,000 by Owner Broker/Pargin Realty.
This is excellent news for San Pedro Creek Estates values.
Feel Free to contact Will Beecher for more information 505-918-5730 or beecha@gmail.com
Sandia Park Real Estate- San Pedro Overlook
July 5, 2011
San Pedro Overlook Developer Defaulted Properties: Update
Will Beecher is proud to announce he has sold 6 of the 13 developer defaulted properties. That is more than $1,500,000 (including the 2006 spec home on Stagecoach Trail) in sales for SPO in just a few short months. The land prices have sold between $133K and $212K with an average sale price of $172K, which is considered excellent results for bank owned land. Mr. Beecher has done well to maintain values the best he can under the difficult circumstances. This also shows the extreme demand for the San Pedro Overlook properties.
The sales have also resulted in large amounts of collected SPO HOA transfer and water fees for the betterment of the SPO HOA reserve fund. The great news is the new owners will be paying their dues, whereas the developer was not, and the bank will pay dues on their remaining 7 properties. This is actually a wonderful improvement for the financial outlook of the SPO HOA.
We are optimistic to sell most of the remaining defaulted properties by the end of 2011. This will get SPO back on track for 2012 and result in more regular market value sales.
San Park Real Estate – Su Casa
San Park Real Estate – Su Casa
6/18/11
San Pedro Creek – 3 Punta Linda, Sandia Park, NM 87047
We are proud to announce that 3 Punta Linda made the cover of Su Casa Magazine!
This fabulous kitchen was designed by the homeowner Dee Madura with Dees Designs.
In addition, this home was my listing, which I recently sold.
Sandia Park Real Estate
6/11/11
Wall Street Journal
The Clouds Haven't Quite Parted, But the Long-Term Case for Home Ownership Is Looking Stronger
By RUTH SIMONBack in June 2006, when the housing market peaked, the prospect of a five-year national housing bust seemed unimaginable to most people. And yet here we are, with the latest Standard & Poor's Case-Shiller index showing that prices hit new bear-market lows, falling back to 2002 levels nationally and to 1990s levels in some battered regions.
Despite all the gloom, however, there are growing indications that it is a good time to buy. Mortgage rates, which fell to 4.55% for the week ending June 2, according to Freddie Mac, are near 50-year lows. Homes have become more affordable than they have been in years: According to Moody's Analytics, the ratio of home prices to income is now 20.9% lower than the 15-year average through 2010, and 12.5% lower than the 1989-2004 average. A historic glut of homes, meanwhile, has created a buyer's market: There were about 15 million vacant homes in the U.S. last year, according to John Burns Real Estate Consulting Inc.—some 3.1 million more than normal.
Sandia Park Real Estate
June 2, 2011
Sandia Park and Public will benefit from new trail opportunities
Sandia Park, N.M. — The Santa Fe Board of County Commissioners approved the acquisition of 160 acres of land in southern Santa Fe County at their April 26th Board meeting. This is a major step in plans by Santa Fe County, Campbell Ranch Corporation, the Turquoise Trail Preservation Trust and the East Mountain Regional Trail Council to permanently protect this land located just south of Golden and next to Highway 14, which is designated as the Turquoise Trail National Scenic Byway. The San Pedro property in the East Mountains lies in the foothills of the San Pedro Mountains, containing a mix of pinyon pine, juniper and open meadows and with outstanding views of the nearby mountains, the valley and the Sandia Mountains.
The property is immediately adjacent to 2,200 acres of existing public land in the San Pedro Mountains that is owned and managed by the Bureau of Land Management (BLM). The acquisition of the San Pedro property by the County will provide for a public regional trailhead to allow for access to hiking, mountain biking and horseback riding on the 160 acre parcel, and ultimately, with the collaboration of other land owners, to connecting trails. BLM and the East Mountain Regional Trail Council are currently working together to create a trail plan for this adjacent federal land.
Will Beecher: Sandia Park Real Estate, Fine Homes Designation
May 24, 2011
As of May 2011, Mr. Beecher earned the elite designation of Prudential Fine Homes International. This special designation is attained by having multiple transactions within the luxury Sandia Park real estate home market. He additionally had to achieve special educational and marketing prerequisites. This qualification allows Will to educate buyers and tap into more marketing power for his clientele.
Contact me for free evaluation of your exiting property or to view my list of exclusive homes.
Real Estate Recovery in Santa Fe
$10.5 million signal of real-estate recovery?
May 07, 2011
Tesuque estate transaction believed to be among most expensive ever in county
Bruce Krasnow | The New Mexican
In a year when Santa Fe home sales are treading water, there are some signs that the high-end market might be in the early stage of a recovery.
The freshest evidence comes in the sale of a $10.5 million Tesuque estate that had been owned by developer Jay Ross and his wife, Marcia. The couple built the house with designers and materials from all over the world, and it includes an outdoor pool, waterfall, seven-stall horse barn, tack room and horse arena. The sale covered the 10,930-square-foot main residence, a 2,500-square-foot guesthouse, 14 acres of property and a 40-acre conservation easement around the land, as well as an adjacent 2.6-acre parcel.
The transaction is believed to be among the most expensive residential sales ever in Santa Fe County — perhaps surpassed only by the 20-acre Sol y Sombra property once owned by Georgia O'Keeffe and where she spent the last year of her life. Charles and Beth Miller bought that residence in 1987 from the artist's estate and developed it as a wildlife habitat.
Million Dollar Market Improving
Million-dollar homes sales rise nearly 20%
April 23, 2011
Les Christie, staff writer
The rich are different from you and me: They're buying real estate.
After four straight years of declines, sales of million-dollar homes and condos rose last year in all 20 major metro areas, according to DataQuick Information Systems. On average, these cities saw an 18.6% jump in high-end home sales.
San Jose, Calif., had the biggest market for million-dollar homes, with a 27.4% spike in sales last year; Phoenix saw the smallest increase at just 0.4%.
Meanwhile, sales outside of this price point actually fell 2.8%.
"It hasn't been a good six months for all people, but it was a good six months for rich people," said Glenn Kelman, CEO of Seattle-based real estate brokerage Redfin. "When Wall Street goes up, rich people buy homes."
And Wall Street has gone up: Stock values have nearly doubled from their March 2009 lows.
"Higher income households are feeling better about their financial security," said Greg McBride, chief economist for Bankrate.com.
Best Retirement Places Albuquerue
The Best Retirement Places - Albuquerque
March 27, 2011
by William P. Barrett
Lists of best places to retire are a popular mainstay of personal finance journalism. Here at Forbes we've published our share, producing rosters focusing on favored locations for retirees seeking an active lifestyle, a foreign residence and even, in the U.S., an urban neighborhood.
More from Forbes.com:
• The Best Retirement Places
• The Best Cities for an Active Retirement
• 10 Steps to Get All the Pension You Earned
As part of the new Forbes 2011 Retirement Guide, our latest offering -- The Best Retirement Places -- considers a wide range of factors but focuses especially on two bottom-line issues: tax burden and cost of living. That's why you won't see any locations in the highest-tax, highest-cost states like California, New Jersey, New York and Connecticut.
Eleven states give special tax breaks to retirees, and we weigh that in our evaluations. This helps to earn spots for Lexington, Pittsburgh and Charleston, S.C. As we see it, the states with the best tax climates for retirees are Alabama, Alaska, Arizona, Georgia, Idaho, Kentucky, Louisiana, Mississippi, Montana, New Hampshire, New Mexico, Nevada, Oklahoma, South Carolina, South Dakota, Utah and West Virginia.
2010 HGTV Dream Home For Sale
March 15, 2011
117 Turquoise Drive, Sandia Park, NM 87047
Offered at $1,195,000 (3.10-acres - Lot 87) MLS#201100626
4208 square feet, 3 Bedroom, Separate Office, 3.5 Baths, Casita, 3 Car Garage, Year Built 2009-10
A custom-designed home with casita mixes southwestern architecture with modern design. The amazing home site is approximately 3 acres and is nestled in the gaze of the majestic San Pedro, Monte Largo and Ortiz Mountains and views of the Sangre de Cristo, Jemez and the Sandia Mountains. The area is complete with breathtaking scenery and a plethora of outdoor activities. Nearby, the historic towns of Santa Fe and Albuquerque offer an international art scene, amazing cuisine and a rich, multicultural heritage. There is also a one-bedroom casita with Erin Adams tile, outdoor patio and Rinnai fireplace.
Note: Community is gated; contact Will Beecher for an appointment.
Good Sales News!
March 3, 2011
There is a glimmer of hope with community sales as of recently. Two spectacular home site lots (land only) recently sold: Lot 40 Phase 1 and lot 39 phase 1 both sold for $240K! This was far above previous sales, which makes me very optimistic about the 2011 spring/summer/fall season ahead.
Another sale worth mentioning was a home that sold for 775K: 7 Calle Lomita: Prior to that home sales were coming in bit lower on average.
Please feel free to contact Will Beecher 505-918-5730 or beecha@gmail.com for market updates or a free comparable analysis of your own property.
7 Calle Lomita:
Sandia Peak Ski Open
Sandia Peak Ski Open with 30” base
1/29/11
Nestled at the base of the ski area the facility has large panoramic views of the ski area as well as the Estancia Valley to the east.
Ticket Windows are located at the main entrance on the lower level.
Information Center and Lost & Found are located on the lower level to the right and the Restrooms are located to the left as you enter the building.
The Wintermill Sports Shop located on the upper level has a variety of logo merchandise as well as those items you may have forgotten including, gloves, goggles, hats, mittens, sun glasses and sun screen.
Double Eagle II Cafe located on the upper level is open from 8:30 am to 4:00 pm serving breakfast, lunch and snacks.
Rental Shop is north of the main building along the boardwalk offering ski and snowboard rentals.
Ski Patrol also north of the main building along the boardwalk has professional and National Ski Patrol volunteers on duty daily to offer first aid or medical services.
Snow Sports School at the far end of the boardwalk has PSIA Certified Instructors for full and half day lessons for skiing and snowboarding. Lessons begin at 10am and 1pm daily. Tickets may be purchased at the snow sports school window.
Elaine's Bed and Breakfast
12/29/2010
Elaine's Bed and Breakfast offers charm, elegance, and gracious hospitality in a beautiful three-story log home nestled in the evergreen forests of the Sandia Peaks. The breathtaking Alpine views make this a storybook getaway-ideal for a romantic rendezvous.
Elaine's B&B is tastefully furnished with European antiques. Choose from five distinctive room styles, all beautifully decorated, with just the right combination of comfort and style.
Though the setting seems remote, Elaine's BnB is only minutes from Albuquerque and Santa Fe. Located on the historic Turquoise Trail, it's perfect for the vacationer or the business traveler. If you must work bring your laptop and take advantage of our free wireless internet access.
Vacationers can enjoy all the attractions of Santa Fe and Albuquerque plus the historic sites, galleries, and shops along the Turquoise Trail Scenic Byway.
Read Reviews: http://www.tripadvisor.com/Hotel_Review-g46973-d79637-Reviews-Elaine_s_Bed_and_Breakfast-Cedar_Crest_New_Mexico.html
New Mexico Land - Gold Investment Alternative
November 30, 2010
LAND - Gold Investment Alternative
All that Glitters is Not Gold!
Gold prices are soaring.
Last month, the price of gold breached a new all-time record high of over $1,387 an ounce.
But with gold increasing almost 20% in three months, speculators concerned with a correction in prices may want to consider other hard asset commodities as an alternative investment.
Gold Investment Alternative: LAND
Will Rogers famously said, "Buy land. They ain't making any more of the stuff."
The world's supply of land is rapidly being eaten up by an explosion in the growth of cities, suburbs, and farmland.
In fact the amount of arable land per person has been reduced in the past 40 years by half.
Like gold, land has historically served as a hedge against inflation. And owning a lot of land has traditionally been a popular investment for gold bugs and the autonomous.
Investors can get easy exposure to land through a handful of equities. You'll want to check out an article I wrote back in February that outlined the six best land stocks to own.
Santa Fe Indian Market
August 21, 2010
Santa Fe Indian Market - World’s Largest – August 21-22, 2010
The Santa Fe Plaza plays host to the most prestigious Native American arts show in the world – the annual Santa Fe Indian Market – Aug. 21-22, 2010. The one-of-a-kind event provides a unique opportunity to buy directly from Native American artists from across the country.
“Santa Fe Indian Market gives New Mexicans and their visitors a genuine cultural experience,” said Michael Cerletti, Secretary of the New Mexico Tourism Department, “and is an integral part of life in the Land of Enchantment. I encourage everyone to experience its wonder and enjoy the beauty of the arts created by this state’s premier residents. The Southwestern Association for Indian Arts (SWAIA) is to be commended for its continued sponsorship.”
The Santa Fe Indian Market has long been the place where Native American art meets the world. Join thousands of collectors, artists, volunteers and visitors who return from across the United States and the world to join in the festivities that celebrate American Indian culture and artistry.
Understanding Short Sales
August 1, 2010
Understanding Short Sales
As a foreclosure alternative, more sellers are turning to short sales as a way to avoid foreclosure. So, how does it work? In a short sale, the seller arranges with their mortgage lender to accept a price that's less than the amount they owe on the property. As part of this arrangement, the lender typically agrees to forgive the rest of the loan. As a result, the seller doesn't have to go though a foreclosure, the buyer picks up a property at a discount, and the lender avoids taking on the burden of unloading the property.
Sounds good right? Well, sellers need to know that a short sale may damage their credit, though probably not as much as a foreclosure. Also, lenders generally will only agree to a short sale if the seller is many payments behind and has received a default notice. Buyers may get a great property at a discount, but they also will need to go through some extra paperwork too. Not to mention, they also need to be prepared to roll up their sleeves if that new property needs fixing up.
The Real Estate Market Isn't Rolling Over
The Housing Market ISN'T Rolling Over
June 25, 2010
by Aaron Task
Fears of a double-dip in housing took on renewed urgency Wednesday after the government reported May new home sales plummeted 33% to a record low.
"That new home sales would decline in May following the expiration of the home buyers [tax] credit is not at all surprising," commented Dan Greenhaus. chief economic strategist at Miller Tabak. "However, we would be lying if we said the size of the drop was not shocking."
Coupled with Tuesday's disappointing report on existing home sales - down 2.2% in May vs. expectations for a 6% rise - the new home sales report confirmed, for many, that the government-sponsored housing recovery has run its course.
Not so, says Jim Gillespie, CEO of Parsippany, NJ-based Coldwell Banker, the nation's oldest real estate company.
"No, the housing market isn't rolling over," Gillespie says.
While you'd expect a real estate executive to be bullish on housing (now and forever), Gillespie provided a rational for his optimism:
Real Estate Sales Surge
May 11, 2010
Pending Real Estate Sales Surge Continuing (U.S.)
Pending home sales have risen for three consecutive months, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions, according to the National Association of REALTORS®.
The Pending Home Sales Index, a forward-looking indicator, rose 6.0 percent to 110.9 based on contracts signed in April 2010, from an upwardly revised 104.6 in March, and is 22.4 percent higher than April 2009 when it was 90.6. That follows gains of 7.1 percent in March and 8.3 percent in February.
Pending home sales are at the highest level since last October when the index reached 112.4 and first-time buyers were rushing to beat the initial deadline for the tax credit. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said this second round of surging sales from the tax credit extension looks as strong as the original tax credit. "There were concerns that only a small pool of buyers were left to take advantage of the tax credit extension. But evidently the tax stimulus, combined with improved consumer confidence and low mortgage interest rates, are contributing to surging sales," he said. "The housing market has to get back on its own feet and now appears to be in a good position to return to sustainable levels even without government stimulus, provided the economy continues to add jobs." NAR expects a net of 1 million additional jobs in the second half of this year and about 2 million in 2011.
HGTV Dream Home Winner NM
March 19, 2010
She lost her home during Hurricane Katrina. But 63-year-old Myra Lewis refused to give up. She's used to fighting the odds. As the mother of a special needs kid, Lewis was told when her autistic son was just five, that he wouldn't be able to learn. He's a gifted artist now, and finishing up his Associates Degree in Fine Arts. Despite the hardships that the New Orleans native has had to deal with, Lewis, a self-described homebody, thinks she is one of the luckiest people alive. She's the winner of this year's HGTV Dream Home Giveaway, worth $2 million. Along with the beautiful, Pueblo-style home near Santa Fe, New Mexico, the prize package includes a new GMC Terrain, and $500,00.
Lewis, is a former science teacher and Peace Corps volunteer.
Tour the HGTV Dream Home NM
Link: Tour the HGTV Dream Home NM
February 11, 2010
The HGTV Dream Home comes to New Mexico! Located between Santa Fe and Albuquerque in San Pedro Overlook, the HGTV Dream Home 2010 is the first to be built in the Southwest. This world-class home sits on three acres of high desert vistas and features 3900 square feet of gorgeous hardwood floors, stunning tile work, and 360 degree views. Don’t miss your chance to tour this amazing contemporary Pueblo home, with tour proceeds going to support East Mountain High School (EMHS).
Tour DATES: February 11 – March 7, 2010
Tour Info
• Thursdays and Fridays (The bus leaves EMHS every 45 minutes) 12:30 pm to 4:15 pm
• Saturdays and Sundays (The bus leaves EMHS every 45 minutes) 10:00 am to 4:45 pm
$20 / ticket
Call (505) 281- 7400, x.110 or On Line Click Here
Tour Guidelines
• Soft-soled shoes are required to enter the HGTV Dream Home 2010; high heels are not allowed
• Shoes must be covered to enter the HGTV Dream Home 2010; booties will be provided
10 Must Home Features
The 10 Must-Have Features in Today's New Homes
by Steve Kerch
Monday, February 1, 2010
The kitchen is still king.
Americans want smaller houses and they are willing to strip some of yesterday's most popular rooms -- such as home theaters -- from them in order to accommodate changing lifestyles, consumer experts told audiences at the International Builders Show here this week.
"This is a traumatic time in this country and the future isn't something we're 100% sure about now either. What's left? The answer for most home buyers is authenticity," said Heather McCune, director of marketing for Bassenian Lagoni Architects in Park Ridge, Ill.
Buyers today want cost-effective architecture, plans that focus on spaces and not rooms and homes that are designed 'green' from the outset," she said. The key for home builders is "finding the balance between what buyers want and the price point."
For many buyers, their next house will be smaller than their current one, said Carol Lavender, president of the Lavender Design Group in San Antonio, Texas. Large kitchens that are open to the main family living area, old-fashioned bathrooms with clawfoot tubs and small spaces such as wine grottos are design features that will resonate today, she said.
November Home Sales Soar 7.4 Percent
Home Sales up 7.4 percent in November as Federal Aid Spurs Sales
December 22, 2009
By Alan Zibel,
AP Real Estate Writer
WASHINGTON (AP) -- Home resales surged last month to the highest level in nearly three years, reflecting an extraordinary level of federal support that has pulled the housing market back from the worst downturn since the Great Depression.
Buyers were racing to complete their sales before the original expiration date of a tax credit for first-time buyers that was scheduled to expire Nov. 30. Last month, Congress decided to extend and expand the credit to ensure the housing market could sustain its recovery.
"Things are stabilizing," said Pete Flint, chief executive of real estate Web site Trulia.com. "There is a significant amount of buyer interest out there."
About 2 million homebuyers have taken advantage of the credit so far, the National Association of Realtors said Tuesday. The group forecasts that another 2.4 million will use it by the middle of next year. First-time buyers made up about half of all transactions last month, driving sales up 44 percent above last year's levels, a record jump.
HGTV Dream Home NM 2010 Awaits Winner
Enchanting Contemporary New Mexican Home Awaits Winner of HGTV Dream Home Giveaway 2010
December 15, 2009 5:09 PM ET
All Business Wire news
A new, contemporary Pueblo-style home, as enchanting as its southwestern location near Santa Fe, New Mexico, awaits the winner of the HGTV Dream Home Giveaway 2010. The home is part of a $2 million grand-prize package that includes a 2010 GMC Terrain and $500,000 that will be awarded to one lucky viewer in March. Until then, online users can see a photo gallery and a 360-degree virtual tour of the 14th annual HGTV Dream Home at HGTV.com/dreamhome.
Located in Sandia Park along the Turquoise Trail between Albuquerque and Santa Fe, New Mexico, the custom-designed 3,900 square-foot home mixes southwestern architecture with modern design. Created with the bold, innovative ideas, architecture, art and design that make HGTV Dream Homes so exciting and unique, the newest home includes hardwood flooring, a state-of-the-art kitchen, designer furnishings, outdoor entertaining space, three bedrooms, three bathrooms, a home office, home theater and a guest casita. In addition, the entire house is solar-powered, taking advantage of the abundance of New Mexico sunlight.
October One of the Best Months in Years
Metro Home Sales Continue Surge
Tuesday, 10 Nov 2009, 11:37 PM MST
Reporter: Maria Medina
Web Producer: Bill Diven
ALBUQUERQUE (KRQE) - Home sales in metro Albuquerque rose 36 percent last month compared to October the year before, according to a monthly report released by the Greater Albuquerque Association of Realtors.
With more than 500 home sold it was one of the best months in the past couple years, the report showed.
Realtor Gary Martinez attributed the higher home sales to the homebuyer tax credit of up to $8,000 that Congress passed for first-time home buyers.
"The market is pretty good right now," Martinez said. "As soon as it came out we started seeing the sales go up."
Martinez said he's selling more homes for $200,000 and below than before, and they're selling quicker.
He said you can get more bang for your buck on the West Side, so neighborhoods like Taylor Ranch, Western Hills and Ventana Ranch are where people are buying right now.
Martinez said he's also selling many homes in southwest neighborhoods but more because of a negative reason.
Albuquerque's Isleta Casino to Become Hard Rock
FULL STORY LINK: Albuquerque's Isleta Casino To Become Hard Rock
Hotels, 10/14/2009 12:26:00 PM
Isleta Casino and Resort in Albuquerque, New Mexico, is being rebranded as a Hard Rock, Isleta officials have announced.
The change to Hard Rock Albuquerque will become official in the spring. It will be the only Hard Rock-branded property in New Mexico.
Campbell Ranch
FULL STORY LINK: Campbell Ranch Gets Another 'No'
Thursday, 08 October 2009 10:13
Although the Campbell Ranch subdivision was shot down again by Edgewood Planning and Zoning, the saga is probably nowhere near its end.
At issue is a part of Campbell Ranch, an 8,000-acre master-planned community east of N.M. 14 and north of Frost Road. A preliminary plat for the first 92-home section of the development was given a final approval by the Edgewood Town Council in March 2008 with a time limit of one year to start construction. During that time the developer was asked to satisfy a list of conditions, one of which was that the subdivision find a legal source of water.
So far, it hasn't managed to do that.
The initial attempt to get water from New Mexico Water Service Co. was abandoned. There is now an application before the Office of the State Engineer to divert up to 1,500 acre-feet of water to the proposed subdivision.
David Campbell, the attorney representing Campbell Corp. at the planning and zoning commission meeting Monday night, brought a document outlining the progress of the well drilling that said a test well has been drilled 1,725 feet deep and that it is expected that operations will be completed soon. It said the drilling had not yet hit the deep water source.
Outside Magazine
Outside Magazine, August 2009
Best Towns 2009
America's Best Cities: Albuquerque, New Mexico
No. 6
By Justin Nyberg
KEY STATS
845,000: Population (metro)
$182,000: Median home price
B: Multisport grade
278: Average number of sunny days
A few cities in the Southwest enjoy their own versions of Albuquerque's main attractions: a surplus of sunshine, mild weather, and easy access to trails, rivers, and mountains—like the 10,678-foot granite escarpment above town. But what sets the Duke City apart these days is stability. Off the speculators' radar, Albuquerque was relatively unscathed by the circus-tent collapse of the housing market, even as its economy—bolstered by growth in the high-tech, film, and renewable-energy industries—has remained stable. The upshot? It now boasts the fifth-lowest unemployment rate among major U.S. cities. And when all those workers are ready to blow off some steam, the city welcomes them with more green space per capita than any on our list—including easy-access singletrack and the 38,000-acre wilderness just east of the city. Plus three ski areas (including the steeps of Taos), fly-fishing in the Jemez Mountains, and Class IV whitewater are all within day-trip range. Take that, Phoenix. It's also a good place to save: The low cost of living and reasonably high wages in professional fields put Albuquerque fifth on Salary.com's list of the best U.S. cities for building personal net worth—meaning you'll have all the more means to gear up for time off the clock.
Best Places to Live 2009
U.S. News looked at areas with strong economies, low living costs, and plenty of fun things to do
By Luke Mullins
Posted June 8, 2009
Albuquerque, New Mexico
Along the banks of the Rio Grande, with the Sandia Mountains in the background, is the beautiful city of Albuquerque, N.M. The sunny climate and endless landscape have long drawn writers, poets, and artists to this spot, which includes an unconventional mix of American Indian, Hispanic, and Anglo cultures. But it's not just freethinkers who drift to this Southwestern city of 511,000. Kirtland Air Force Base, Sandia National Laboratories, and Intel Corp. have helped develop the area into a manufacturing and research hub. They provide a stable anchor for the local economy.
Albuquerque's clear skies, calm winds, and abundant sunshine present plenty of opportunities to explore its natural splendor. Each October, the Albuquerque International Balloon Fiesta fills the sky with more than 700 colorful hot-air balloons. Fourteen area golf courses are open year-round and allow duffers to tee off against spectacular backdrops of volcanoes and mountain peaks. Meanwhile, Albuquerque's foothills and network of trails make the area a wonderful destination for biking. Still, "it's kind of undiscovered at the same time," says Will McConnell of the Albuquerque Bicycle Center.
HGTV's 2010 'Dream Home' comes to NM
Friday, May 22, 2009
Construction is starting on the 2010 HGTV Dream Home give away at San Pedro Overlook, the upscale gated community along the Turquoise Trail north of Sandia Park. The 3,900-square-foot home will be featured on the popular cable television show starting in January and will be featured until it is given away late next spring to a winner who has signed up through the Internet.
The site is in the second phase of San Pedro Overlook, which is part of the sprawling Campbell Ranch development east of the Sandia Mountains. Campbell’s developers aggressively sought to be part of the Dream Home show that has a viewship of 97 million U.S. homes. The Dream Homes are given away annually, but some winners didn’t take them because of tax consequences.
Campbell Ranch has guaranteed to HGTV that it will buy back the home from the Home and Garden network if the winner does not want the $1.5 million home.
Some in the region’s housing industry say the show can throw a national spotlight on the local housing industry and promote higher-end homes that have suffered in the current downturn. San Pedro Overlook is embarking on a third phase of 70 lots, but many of its second phase lots have not been built yet because of the sluggish economy.
