Anyone can be a pessimist about the real estate market. All over the U.S., the economy-- and the housing market along with it-- look pretty bleak, and no one's more aware of that than you and I. As real estate agents, sellers or buyers, we get used to the ups and downs of the market year by year. In this case, the "down" seems to be lasting a bit longer than we'd like to see. But in my little corner of the country, there's a light at the end of the tunnel. Nestled quietly in the valley just south … (1 comments)
real estate: $8,000 First-Time Homebuyer Tax Credit- Refundable!
- 03/16/10 06:36 AM
This is a dollar-for-dollar tax reduction offered only to first-time homebuyers. Credit amount is 10 percent of the value of the home, not to exceed a maximum of $8,000 (no credit is available for homes with a purchase price of more than $800,000). This tax credit is offered to the first-time purchaser of a sinyngle-family home (including condos) that is to be used as a primary residence (purchases from close relatives are exempt). Purchasers who utilize the NMMFA Bond Program are also eligible to recieve this credit. The income limit for this credit is $125,000 for an individual or head-of-household (Form … (0 comments)
real estate: $6,500 Trade-Up Homebuyer Tax Credit- Refundable!
- 03/16/10 06:05 AM
This tax credit is offered for the purchase of any single-family home (including condos) that is to be used as a primary residence (purchases from close relatives are exempt). To be eligible, one must be a long-time resident that has lived in the same primary residence for 5 consecutive years within the 8-year period prior to the purchase of the home. The borrower must be 18 years of age or older, and must not be filed as a dependent. The income limit for this credit is $125,000 for an individual or head-of-household (Form 1040) and $225,000 for those filing a joint … (3 comments)
real estate: Primrose Pointe in Albuquerque
- 12/21/09 05:56 AM
OK, this may seem really odd, but today I'm blogging to promote another real estate company! Some friends of mine who specialize in the Primrose Pointe subdivision in Albuquerque's Northeast Heights have formed a new company, Primrose Pointe Real Estate, especially to serve home buyers and sellers in that area, and I'd recommend them to folks interested in the area. That's definitely not one of my areas of specialty. Primrose Pointe is a high-end, planned community of fairly new, luxury homes at the base of the Sandia Foothills. Prinrose Pointe Real Estate has just created a really nice new website full … (0 comments)
real estate: New Corrales Ordinance Angers Local Brokers
- 07/15/09 02:39 PM
At last month's Village Council meeting in Corrales, NM, councillors voted unanimously to adopt a new ordinance regarding sales tax impositions on real estate sales and construction and home improvements, despite vociferous opposition from many well-known local real estate brokers. According to an article in the Corrales Comment, the measure imposes a gross receipts tax reporting requirement meant to insure that the Village of Corrales receives sales tax revenues on homes and imporvements made in the village, rather than having such sales tax revenues be inadvertently misdirected to Albuquerque or Rio Rancho, where real estate brokers and contractors often have their … (0 comments)
real estate: Light at the end of the tunnel?
- 07/10/09 08:53 AM
Our Albuquerque real estate statistics for the month of June have been released, and they seem to show some light at the end of the tunnel for Albuquerque home sales. First of all, our oversupply of homes on the market is definitely shrinking. There were only 5,480 single family detached homes on the market this past June, which is way down from the high figure of 6,428 in June of 2008.
The number of new listings coming on the market was also lower in June 2009 than it was in June 2008; in fact, nearly 17% lower! These figures indicate … (2 comments)
real estate: Number of homes sales is climbing in Albuquerque, NM
- 06/16/09 07:37 AM
The May home sales statistics released by the Greater Albuquerque Association of Realtors show some positive movement in our Albuquerque real estate market. The number of closing of single family detached homes has been steadily inching upward over the past few months, reaching 566 closed sales in May, after hitting a record low of 324 sales last January. The number of closings is now back in the ballpark of the figures for last few months of 2007, although still nowhere near the peak sales numbers we saw during the summer months of 2005, 2006, and 2007. Still, these Albuquerque area real estate … (0 comments)
A couple of weeks ago, I discovered a pair of little birds who got very agitated whenever I headed over to my beans and pumpkin patch. One or the other of them would fly at me, land nearby and twitter away at me, then run off and start pretending to be a poor, broken-winged bird. I'd never seen this before, but had read of it, and realized that some birds do this to try to lure dangerous predators away from their nests.
… (6 comments)
real estate: Albuquerque South Valley Real Estate Stats, Part II
- 06/04/09 11:49 AM
My previous post on Albuquerque real estate market for the Far South Valley area looked at high, low and average sales prices over the past 10 calendar quarters. But there is more information that is significant for understanding the real estate market in the area. Average sales prices may not have changed dramatically in the past couple of years, but there are some other figures that have. Time on the market and number of sales in an area are also significant, and, unfortunately for those of us with an interest in Albuquerque in general and the South Valley in particular, these … (0 comments)
real estate: Waterfowl in my desert NM backyard!
- 06/03/09 07:18 AM
Probably sounds ridiculous to those not really familiar with the Albuquerque, NM area, but our New Mexico desert is actually home to loads of water birds!
More particularly, my backyard right here in Bosque Farms, New Mexico, hosts loads of waterfowl on a regular basis!
The key, of course, is water, and we've definitely got that here along the Rio Grande Valley.
We regularly ditch-irrigate our pastures, grow a huge organic garden, and play host to some gorgeous, and even threatened, species of waterfowl! The other day, after irrigating our pastures, I noticed some long-legged water birds that I had … (2 comments)
real estate: Make some time tracks---at the Natural History Museum!
- 05/13/09 10:41 AM
Got an urge to time travel? Head over the the New Mexico Museum of Natural History in Albuquerque, New Mexico! Located right near Albuquerque Old Town, the Natural History Museum offers a wide range of permanent exhibits to attract the young and the young at heart! Here's a sampling of some of the things you can see every day, up close and personal: Jurassic Super Giants: It's Mortal Combat and then some when Saurophagnax takes on Seismosaurus!
Age of Volcanoes-- watch out though; here you can experience what it's like right inside the volcano! T Rex attack-- shades … (0 comments)
real estate: Need a job? Check Albuquerque!
- 05/08/09 05:50 AM
Albuquerque, New Mexico has been hit much more lightly than most areas in the recent economic downturn. The Albuquerque real estate market, while significantly slower than it has been in the past, has seen only a very slight drop in average prices, and some areas around Albuquerque have even had slight increase in price. Part of the reason is probably that both our unemployment rate and our foreclosure rate remain much lower than in most areas. In fact, Albuquerque is a pretty good place to find a job these days. Hewlett Packard has been hiring for its new Rio Rancho … (0 comments)
real estate: Prices on the rebound in Albuquerque!
- 03/24/09 08:01 AM
Looks like real estate prices are on the rebound here in the Albuquerque area! Albuquerque real estate statistics for sales of single-family detached homes sold through the Greater Albuquerque Association of Realtors indicate that the mean price actually increased in February, 2009 over the previous month by nearly 6%! Yaa-hoo! Naybe we've turned the corner, and the worst of the real estate slump is over...
For the greater Albuquerque area, the median sales price for detached, single-family homes in February, 2009 was $183,900, compared to $174,250 for January, 2009, an increase of nearly 6%. Looking at the chart at right, one … (2 comments)
real estate: Holiday Horse Property Extravaganza in NM!
- 12/09/08 04:56 AM
A group of some 30 New Mexico real estate brokers has banded together to stage a "Holiday Horse Property Extravaganza" of Open Houses throughout the greater Albuquerque area on Saturday, December 13th and Sunday, December 14th. All locales within the Greater Albuquerque area will be represented, from Corrales and Albuquerque's North and South Valley, through Valencia County communities as far south as Belen, to East Mountain communities as far out as Moriarty and Estancia. All properties have existing horse facilities, and range from an acre up to the 40-acre range. Prices range from under $200,000 to several million dollars. The two-day … (1 comments)
real estate: Albuquerque is Number 1! Forbes rates it the best bet for real estate investment!
- 09/03/08 12:00 PM
I've been saying all year that we are SO lucky here in Albuquerque, NM, because our housing market has remained much stronger than the market in most of the rest of the country. Our home prices have remained pretty stable, and our foreclosure rate is much lower than in most other areas. And it seems I'm not the only one noticing! Forbes magazine just published an article rating Albuquerque as the #1 Place Where Home Prices Are Likely to Rise!
Yep, they considered the entire country, and found Albuquerque the best bet for real estate investment! Homebuyers and investors, … (3 comments)
This blog and our websites all provide current tips, updates, community news and information relevant to buyers and sellers of real estate in Albuquerque and surrounding areas, plus news and resources for New Mexico horse owners.
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