New Mexico Real Estate

Rio Rancho Home Seeks New Owner

2009-11-27T15:24:00.005-07:00

A cute 3-bedroom, 2-bathroom home, 248 17th Street, Rio Rancho, New Mexico is looking for a new owner. By Rio Rancho standards, this home built in 1977, is an older home-old enough to have a mature, establised garden with grown trees. But both the house and the garden are in great shape, tidied up and made ready for new occupants.

The home would be ideal for a first-time home buyer or for someone seeking to downsize. Either way, its appearance on the market is timely for taking advantage of the homebuyers' tax credit by both first time buyers and sellers wishing to downsize.

Being in the Star Heights neighbood in southeast Rio Rancho, the property is less than five minutes from shopping and restaurants at Southern and Unser. it is also easily accessible to all of Rio Rancho and Albuquerque.

Happy Thanksgiving!

2009-11-25T19:12:00.001-07:00

This Thanksgiving, as always, I give thanks for my family, friends, clients, and all the other wonderful people I have the good fortune to interact with each day.

In addition, this year, I am thankful for every glimmer of hope of recovery that I detect in the housing market and the economy.

My wish for Thanksgiving this year is again the wish expressed by W. E. B. Dubois: "God, give us thankful hearts in this season of Thanksgiving. . . . Let us to seize the day, and opportunity and strive for that greatness of spirit that measures life not by its disappointments but by its possibilities, and let us remember that true gratitude shows itself neither in independence, nor satisfaction... but in passing the gift joyfully on in larger and better form." --W.E. B. Dubois

Homebuyers Tax Credit Update

2009-11-06T12:33:00.000-07:00

All potential homebuyers in New Mexico and across the nation have reason to be hopeful.The Senate unanimously approved the extension of the first-time homebuyer’s tax credit and Congress voted 403-12 to pass the bill which is now before President Obama for signature. He is expected to sign the bill within a day or two.

The tax credit of $8,000 that was scheduled to expire at the end of this month is now extended to April 30, 2010 and in addition, creates a $6,500 credit for existing property owners who sell a home and buy another during the same period of time. Current homeowners must have been living in their current residence for five consecutive years.

Qualifying income limits are now up to $125,000 from $75,000 for single taxpayers and for joint taxpayers, $225,000 (up from $150,000).

Military personnel deployed overseas for a minimum of 90 days in 2008 or 2009 have until April 30, 2011 to claim their tax credit.

Read more from the National Asociation of Realtors.
Eloise Gift
Gift Realty N M
(505) 363-5156

Foreclosure Not the Only Solution - You have Options

2009-11-03T17:19:00.000-07:00

Are you or someone you know having difficulty keeping up with mortgage payments? Foreclosure is not the only solution. Through the Making Home Affordable Program, you can seek to refinance or restructure your loan. Learn oabout the alternative, the Short Sales/Deeds-In-Lieu Program. It will be necessary to work with your lender. Help may be just a phone call or a click away. To find our more:

Contact a trusted REALTOR®.
Beware of scams.
Visit Making Home Affordable.
Contact the Housing and Urban Development (HUD) to request a free housing approved counselor..
Watch a video on getting the help you need, courtesy of HUD.

Eloise Gift, CRS, REALTOR

Cold Snap no Setback for Golf Tournament

2009-10-30T15:12:00.000-07:00

The morning dawned unusually cold for the season and many of us thought it might be too cold to venture out for the Greater Albuquerque Chamber of Commerce annual Links for Literacy tournament. But players turned up as scheduled and volunteers registered them on the pavillion of the Sandia Resort golf course warmed by outdoors gas-powered heaters.

In true Albuquerque fashion, the clouds lifted and the sun came out. By noon when the golfers took off accompanied by six-year-old first-grader, golf phenomenon Austin Jet, the heaters were turned off and the day was already turning toasty warm.

The reliability of good weather is only one of the reasons for Albuquerque being such a great place to live, work and play.

Market Update Albuquerque, New Mexico

2009-10-26T09:26:00.000-07:00

Third Quarter 2009

Albuquerque and Rio Rancho first-time home buyers jumped off the fence July to September to help drive the number of single-family, detached, residential sales for the period higher 3.75 percent higher than sales during the same period in 2008. Most likely, their strong motivation was continuing low interest rates, lower prices, tax stimulus incentives and a sense of urgency that these favorable conditions may not last much longer, especially with the stimulus incentive scheduled to end November 30.

One definite advantage of the surge in sales was that with 13.74 percent fewer new listings entering the market for the period and single-family homes building permits at their lowest since 1981, the inventory was lowered.

The Greater Albuquerque Association of Realtors reports that the average sales price of single-family detached homes was 8.57 percent lower than at the same period in 2008 and the median at $182,000, was 5.71 percent lower. Condos and townhouses, similarly, showed an increase in sales of 31.40 percent. These single-family attached homes sold at an average price of $151,295 per unit compared with $155,119 for the same period in 2008 - an average price decrease of 2.l4 percent and median decrease of 4.48 percent. The number of new listings for single family attached increased 4.38 percent for the period.

The inventory is decreasing but the number of days on the market continues to increase for all single-family homes. From July 1 to September 30, 2009, the average number of days on the market for single-family detached homes was 76 compared to 71 during the same period in 2008. For condos and townhomes, it was 82 compared to 74.

The highest performing market area for detached homes last quarter was Northeast Heights followed by Southwest Heights, Paradise West, Mid Rio Rancho and the Northwest Heights. The most significant change in the lineup was the replacement of the Far Northeast Heights by the Northwest Heights as a top-selling area for the quarter.

Best performing area for the sale od condos and townhouses continues to be Ladera Heights, followed by Academy West, Northeast Heights, the Far Northeast Heights, then Foothills South. In 2008 the lineup was Ladera Heights, the Far Northeast Heights, Academy West and Northeast Heights followed by Mid Rio Rancho. Most significant change for attached single-family home sales for the 2009 third quarter is the replacement of Mid Rio Rancho by Foothills South in the top-selling lineup. Academy West also outsold the Northeast Heights.
Eloise Gift, Gift Realty NM, Albuquerque, NM

Albuquerque Market Update - September 2009

2009-10-19T16:50:00.001-07:00

Recap
September 2008 had the largest inventory of homes for sale for the month, since September 2005. Yet, both median and average home prices increased. Although both were lower than at their peak in mid 2007, the average price of $222,947 and median of $186, 750 both were still higher than they were in September 2005. Most of the homes sold were in September 2008 were in the $240,000 - $249,000 price range followed by those in the $160,000-$179,000 price range. The average number of days on the market at the time was 74.

September 2009
According to the Greater Albuquerque Association of Realtors Market Report, single-family home sales are up 10.17 from August, 2009 and 9.44% from September 2008. Pending sales are up 30.74% and the number of days on the market decreased to 67; the lowest number since September 2008. The above translates to we are selling more homes at a faster rate and lowering our inventory. Great news!
The top-selling price range for single-family, detached homes for the month is $200,000 to $249,000 and for condos and townhomes, $120,000 - $139,000. The average home price is $200,987, and the median, $179,900. The average number of days on the market is 76. The ighest selling areas are areas 50, 92, and 120 ? Northeast Heights, Southwest Heights and Paradise West.

The market statistics for the Greater Albuquerque Area reveal reasonable compromises that are keeping the market active and vibrant as it continues to readjust.

Thoughts on The Preservation of Planet Home on Blog Action Day

2009-10-15T10:31:00.000-07:00

Growing up, my beautiful island home lay in the path of Caribbean hurricanes that were so predictable that a popular jingle served as an accurate forecast throughout my childhood.

June too soon
July stand by,
August come it must
September remember
October, all over.

Alas! This is no longer the case. These days, it seems as if storms are developing much sooner and at unpredictable rates and we can now expect hurricanes as early as June and as late as October or November.

The southwestern United States where I now live is another indescribably beautiful place where the landscape, in every direction seems created for the pages of glossy nature magazines. Disaster recovery businesses move to our city because we are among the areas least prone to suffer natural disasters. Such tranquility and beauty should remain a treasure for successive generations to enjoy into eternity.

But the predictions are that this delightful region is destined, within a few generations, to become an inhabitable wasteland, abandoned for lack of water. See articles the Nature Conservancy:

While the permafrost melts and seas rise in some parts of planet earth, in others, rivers become dry gulches and plant and animal life get increasingly threatened by lack of water.
It may be difficult to believe, but many people are still not aware of climate changes and threats to our planet. Others dispute that there are changes and still others strongly disagree about the reasons for the changes despite persuasive arguments from credible spokespersons like Al Gore; What there is no denying is that planet earth is changing in dramatic and observable ways that threaten the existence of life as we know it.

I am delighted that I live in a city where efforts have been made at the highest levels of leadership to take the initiative to build awareness and encourage responsible actions to stop or reverse climate change. Our mayor established a renewable energy financing district:and promoted a green city.:

"We have a deep-rooted responsibility as a community to make
the best possible choices in determining the legacy that will be
shared with Albuquerque's future generations."
- Mayor Martin J. Chávez

The message encourages green living from A to Z; from art in the city to the zoological park; to conserve energy by riding bikes and leaving cars at home to take the bus or the new Rail Runner Express commuter train. City residents are encouraged to take advantage of incentives to make existing homes more energy efficient with low-flow toilets, updated energy-saving light fixtures appliances, HVAC systems, low maintenance, water saving natural and xeriscape gardens. Builders of new homes get well publicized recognition LEED certification for green, healthy, energy-efficient architectural and design features.

Whatever the reason(s) for climate change, efforts at clean living, preservation and conservation of non-renewable resources still make for good stewardship of the wonderful Earth home. If we are consistent, chances are we will pull ourselves back from the brink and our planet will not self destruct rendering future generations homeless.

Must See Event in Albuquerque

2009-10-04T19:46:00.018-07:00

Hot-air ballooning is an all-year-round sport in Albuquerque. We have the landscape, the weather conditions, the sky and the enthusiasts for the sport. From most parts of the city in the northeast and northwest, it is a rare day that you go for an early morning walk or drive without seeing hot air balloons floating overhead. The balloon fiesta park is tucked away close to the northeastern edge of the city not far from Corrales and Rio Rancho.

During the last few weeks you could tell the city was gearing up for a big event. The morning skies gradually got busier although nowhere near as busy as they will be for the daily colorful mass ascensions of the two-week event. I imagine that the out-of-town pilots have been arriving and joining the locals in practice runs and testing of the air currents in the run up to the big event. The 38th International Annual Balloon Fiesta opened in Albuquerque yesterday, October 3.

The balloons are wonderful to watch floating overhead or in the distance. It is awesome to have one land almost in your backyard. But it is simply a most exhilarating experience to be on the launch field, up close and surrounded by the energy, hubbub, and color of hundreds of puffing, colorful shapes suspended from comparatively small wicker baskets periodically spouting flames as if concealing angry dragons. It is worth waking up at 3:00 in the morning (my preferred show time) to experience the drama.

I love getting to the field early in the morning before the shows begin with dawn patrol. It is dark and cold (the coldest time of our high desert night. Dawn patrol, quiet sentinels distinguishable only by their intermittent flashing lights float silently aloft in pre-dawn darkness to test the state of the wind current and flight conditions for the morning. Seeing dawn patrol is akin to receiving an assurance that ‘yes, the air is right. Soon the sun will appear above the Sandia Peak and the promised show will begin.' And what a show it always is! Will I be on the field again this year to see it? You bet I will.

It's Balloon Fiesta Time Again!

2009-10-02T19:06:00.012-07:00

Greater Albuquerque Association of REALTORSÃÂ® | Market Statistics | Report | August 2009 Market Report

2009-09-10T18:46:00.001-07:00

Greater Albuquerque Association of REALTORSÃÂ® | Market Statistics | Report | August 2009 Market Report

Shared via AddThis

Albuquerque Market Update - The Impact of Impact Fees

2009-08-23T22:27:00.008-07:00

According to the City of Albuquerque impact fees help fund critical major infrastructure.Therefore the government made impact feese a requirement for builders of new commercial and residential buildings since 2004 as representing a fair, proportionate share of the cost of the parks, roads, drainage facilities and public safety facilities necessary to serve new developments.

Now, five years later, as reported by the Greater Albuquerque Association of Realtors, the city is considering a reduction in impact fees. The fees were imposed at the height of the boom when builders couldscarcely build fast enough to meet the demand for new homes. The builders did not like the added fees but kept on building and likely as not passed them on to buyers. But the downturn came and the rest is history. New home construction is almost at a standstill. K B. Homes left town; some companies merged,( Pulte and Centex most recently; and others simply ceased production.

Currently, around the city, building sites with electricity, cable, gas and water in place, are quiet, waiting for someone to bring them alive again with the sounds of hammer and saw and the buzz of Spanish dialects of roofers and tilers. The reduction of the impact fee may just be the one added incentive we need at this time for the activity to return. With the near cessation of new housing starts and first-time buyers taking advantage of the $8000 tax incentive, the drop in prices fueled by short sales and REO pricing, the Albuquerque area has been significantly whittling away at its inventory. The latest housing statistics from the Greater Albuquerque Association of Realtors, point to signs of recovery in the housing market.

Acdcording to the GAAR report, the reduction in impact fees for green construction would be 100 percent and for all others, 50 percent. This particular incentive plus may well be signifying the end of the downturn and the swing of the housing market pendulum in the opposite direction of recovery and I would not be at all surprised to see building construction sites around the city starting to come alive in the short run.

Gift Realty NM

2009-08-18T22:44:00.000-07:00

Eloise Gift
Gift Realty NM

First Day

Today marked an important milestone in my life and business. I completed the final step in launching my own brokerage by finally going to the New Mexico Real Estate Commission to request the transfer of my associate real license for that of a qualifying broker and am not sure why I waited this long to make the change. As they say where I grew up, the longest road has a turning and so I have come to the turning in my real estate career road.

Deciding to activate my qualifying broker’s license is a significant yet insignificant step. The more things change, the more they remain the same. What’s different and what’s the same? I have given up my former de jure physical address to which most of my mail was sent and now I won’t have to drive five miles to pick up my mail. It will arrive at the mailbox at my previously de facto and now also de jure office. I have the same phone number, same email address, the same clients and customers wanting same information, attention and results.

Tomorrow I will awaken, go to the gym, return home have breakfast, get dressed and walk across the hall to my office as I have done most mornings for five years. I will make and return phone calls, read and reply to emails, write or update contracts, read and reply to snail mail, pay bills, write thank you notes, break for lunch and in the afternoon, go out on appointments or preview homes.

With respect to responsibility for getting things done, the buck now stops with me, as it should have always. But in real estate, the QB bears ultimate responsibility for most of the sins of the associate brokers. They get hauled over the coals if their associates err. If I screw up the QB will still be taking the heat. But, guess what? Now I am the QB, the go-to person, the chief cook and bottle washer, the decider; and the buck stops with me.

First Day

So how did I spend my first day as a QB? This day started with a very illuminating tour of a neighborhood park construction site. Then it was clean-up day. After leaving the office of the Real Estate Commission, I spent several hours in between calls updating online and hard copy files. We leave footprints in so many places so I retraced my footsteps at some sites and made new footprints at others:

EloiseGift

Follow me on Twitter.

Be my friend on facebook.

Read myposts on ActiveRain.

In keeping with my customary schedule,I ended the day with a listing appointment before heading out to one of my community activity board meetings. The more things change, the more they remain the same.

Bonanza For First-Time Home Buyers

2009-06-27T13:41:00.000-07:00

The current real estate market is offering a bonanza for first-time home buyers. Customers and clients, several of them, first-time home buyers of all ages, are asking about and taking advantage of opportunities presented by current market conditions. These include inventory, declining prices, and generous tax rebate through the American Recovery and reinvestment Act (Stimulus) funds.

I am delighted to be able to share this timely video, For First-time Home Buyers from my Keller Williams Realty connections to help answer a current frequently asked question. If, after viewing, you are motivated to take action, do get in touch with me. Happy viewing!

Albuquerque's Watermelon Mountains

2009-06-16T08:55:00.000-07:00

Apart from the sky, the Sandia Mountains may be Albuquerque, NM's best feature. I cannot imagine anyone falling in love at first sight with the city as I did, if those mountains weren’t there. They offer a magnificent backdrop, orient us, beckon us to get closer, and seduce us to explore. The Sandia Mountains, so called because of the watermelon rosy red and orange tinted dawns and sunsets they engender, are friendly but they demand respect.

If you answer the Watermelon Mountains’ call to approach, enter and explore, do so care and caution. They are, after all, a wild place with wild terrain and animals. Go accompanied and preferably with an experienced guide. I don’ t go beyond my comfort level. My more daring friends who frequent the mountains recount interesting stories of encounters and near misses.

Go well prepared. Even at 5,000-6,000 feet where we live in the city, we can have sudden weather changes that cause temperatures to drop several degrees. Within an hour in summer, we can go from bright sunny skies to rain and hail and back again. In winter, it's relative warmth to snow and back again.

In addition, the twists and turns of paths and the uneven terrain of peaks and valleys in combination with unusual light patterns of this southwest region make it easy for one to seem to disappear in an instant, almost like camouflage.

A recent tragedy involving a young, experienced hiker and her Albuquerque Police Department helicopter pilot rescuer reminds us that we can't be too careful when out enjoying this beautiful land of ours.
Pilot Student Tragedy

Greater Albuquerque Area Market Update

2009-06-14T21:24:00.000-07:00

The May figures for the real estate market in the Greater Albuquerque Area continue to reflect the positive trend of the two previous months with higher sales volume, diminishing days on the market and a shrinking inventory.

First-time home buyers who have been waiting patiently for a favorable market are making hay while the sun shines for them with low interest rates, falling prices and the incentive of $8,000 tax rebate. It is not surprising that homes in the $150,000 to $200,000 price range are at the leading edge of the recovery.

May Market Update

Another Week in th Q

2009-06-05T19:49:00.000-07:00

Albuquerque has another name. The city has been fondly called the Duke City for years and now another name is becoming popular - The "Q." It has one advantage. It is easier to spell.

So what happened in the Q this week? Many of us in the real estate business are feeling hopeful about the market and are pleased that first-time home buyers in particular seem to be taking advantage of the large inventory and continuing low rates and other available incentives.

Of course, the housing market is only a barometer of the overall economy, so what indicators in the Q this past week are resulting in positive outcomes?
Our stimulus package has increased to more than $3 billion.
The Q is still a popular destination for tourists, retirees and job seekers.
A new solar venture with possibilities for additional employment is getting underway.
The Homeland Security Advisory Council (HSAC) held its first meeting in the Q.
Our unemployment rate is below the national average.
The weather was fantastic all week.

Albuquerque, NM on Top Ten Best Cities List AGAIN

2009-05-27T07:05:00.001-07:00

We who live here in Albuquerque and the surrounding areas of Central New Mexico know we are priviliged to call this exceptional place home. In this oasis of our vast southwestern state you will find hospitable diverse people, all-year-round gorgeous climate, picturebook landscapes, and what many call a spiritual aura. It is the kind of place that contributes to your waking up each day thinking all things are possible.

Whether you are a new arrival or grew up here and know you have roots going back thousands of years you just know we are deserving of recognition and accolades and are not surprised to receive them. We have been on many top ten lists many times, several in the #1 position. Today we received another accolade. Albuquerque is #2 on the Top Ten List of Best Cities for 2009 www.kiplinger.com/magazine/archives/2009/07/best-cities-2009-where-the-jobs-are.html. Bravo Albuquerque!

Accessible Santa Barbara in Albuquerque NM

2009-05-16T12:36:00.000-07:00

When a river runs through your city that river becomes a focal point especially if the city is in the desert. Everyone knows where the river is, all eyes drawn to the landmark of its banks with with its profusion of vegetation. The river demands attention also because the residents have to be aware of crossing points. In any such city, one may have need to cross the river back and forth several times each day for business or pleasure.

The Rio Grande runs north to south cutting an almost straight path down the middle of the city of Albuquerque, forming the de facto dividing line between the eastern and western parts of the city. Currently three major bridges link eastside and westside and two major interstate highways, one running north to south and the other east to west enhance accessibility citywide.

Nevertheless, because of the distinctive topography of the city, home buyers who commute from Westside to Eastside or vice versa often include accessibility as an important criterion for finding a home in the city. What they usually mean is quick access to some particular point like Kirtland, our historic, local air force base or they want to be able to get on and off one of the interstate highways quickly.

Santa Barbara close to the Paseo del Norte and Wyoming intersection satisfies that criterion for for someone living in the Northeast. The neighborhood is at a perfect jumping off point to go north, south, east or west. It is less than two minutes from an I-25 exit and it is just off the most fastest of the three roads in the city that bridge east and west. Residents of this neighborhood enjoy accessibility without compromise in that they are tucked away just enough to enjoy the benefits and not the disadvantages of being close to major highways.

The home at 7108 Canary Lane in Santa Barbara is one of fifteen homes currently on the market in that neighborhood. It offers flexibility with five bedrooms two of which--one upstairs and one downstairs--could be considered master bedrooms. Apart from ease of access to other parts of the city, this home also offers quick access to local shops, restaurants and other businesses. It is a home that has been well cared for. It is in move-in ready condition for someone needing a lovely home in Northeast Albuquerque. Best of all, it is in an accessible neighborhood.

Real Estate Investment Now and For All Seasons

2009-05-06T17:59:00.000-07:00

I am haunted by the fear that our children may lose their way in a world that values money for what it can by and not for the good it can do. I am haunted by the idea that our children are growing up in a society that places too much emphasis on the job you have, the salary you make, and the title you wear. An impatient world measured in days, not years, and populated by instant winners, lottery lovers, and a battery of million-dollar game shows. A time when investing has become a romantic notion of high-flying day traders and IPO millionaires or, worse, has become synonymous with a crapshoot plagued by corporate scandal, worthless stock options, and bankrupt pension funds. Most of all I’m haunted that we’re teaching a generation that riches come quickly or not at all.
─Gary Keller, Preface to The Millionaire Real Estate Investor (2005)

Because of his concerns, Gary Keller wrote and published The Millionaire Real Estate Investor in 2005. It is a book that is a manual and a handbook for successful real estate investment.

In the current world financial crisis, it is as if Gary’s worst fears are realized. But we don’t have to feel paralyzed or helpless and we don’t have to write the book on how to avoid the pitfalls. Gary already wrote it.

The book documents the experiences of more than 100 people who achieved wealth through real estate investing. They were people of varied backgrounds and who shared a burning desire to change their lives and followed a secure and consistent pattern of investment along an almost straight path to success. The actions of those investors provide the basis for the investment models in the book.

The workshop based on the book, teaches how to take the guesswork out investing so we do not have to reinvent the wheel. It shows that real estate investment done right is protected from ravages of the types we see afflicting the world in the current economic downturn.

There has perhaps never been a more favorable time than the present to invest in real estate. Interest rates are historically low; home prices are at a level few could have conceived of even two year ago; and the inventory of homes is huge. The Millionaire Real Estate Investor workshop is as timely as it can be and a perfect tool for those willing to push beyond fear to chart their way to financial well being.

According to the MREI:

1. Building financial wealth through real estate is possible.
2. Building financial wealth through real estate is possible for everyone.
3. Anyone can, not everyone will.

Millionaire as used by Gary Keller is a synonym for success and becoming the best that you can be. To find out how you can be the best you can, attend the next Millionaire Real Estate Investor Workshop at the Greater Albuquerque Chamber of Commerce. For more information, call: 505-363-5156.

Rotary International District 5520 Convention

2009-05-06T09:43:00.000-07:00

Albuquerque, NM is hosting the District 5520 convention in Albuquerque this week, May 7 through 9 at the Embassy Suites Hotel. If you are a Rotarian be at the convention in Albuquerque, starting tomorrow, or be square. Rotary is a worldwide voluntary organization dedicated to service and international friendship. It's signature project has been the world-wide eradication of polio.

Clean up Day in Paradise

2009-04-25T21:18:00.000-07:00

April 22 was Earth Day. Some of us are trying to extend the momentum and be earth conscious all year round. All across Albuquerque, people joined the Mayor's annual initiative in "Clean Up Day." The Paradise Hills Civic Association sent out fliers to its entire neighborhood, distributing them to businesses, through the schools and on bulletin boards. The board encouraged people to clean up and provided dumpsters for non-hazardous bulk items people wanted to discard.

I saw people cleaning up along Paradise Hills Boulevard but did not notice anyone making use of the dumpsters. I pulled a few emerging weeds in my garden and engaged a gardener to tidy up an absent client's garden. Considering how many activities there were all around th city, not least of which was the Native American Gathering of Nations, I am pleased that Albuquerque residents took some time to participate in Clean-up Day.

Real Estate, an Investment for All Seasons

2009-03-24T23:52:00.000-07:00

I am haunted by the fear that our children may lose their way in a world that values money for what it can by and not for the good it can do. I am haunted by the idea that our children are growing up in a society that places too much emphasis on the job you have, the salary you make, and the title you wear. An impatient world measured in days, not years, and populated by instant winners, lottery lovers, and a battery of million-dollar game shows. A time when investing has become a romantic notion of high-flying day traders and IPO millionaires or, worse, has become synonymous with a crapshoot plagued by corporate scandal, worthless stock options, and bankrupt pension funds. Most of all I’m haunted that we’re teaching a generation that riches come quickly or not at all. ─Gary Keller, Preface to The Millionaire Real Estate Investor (2005)

Gary Keller published those words in 2005 in the preface to The Millionaire Real Estate Investor. Do you feel the same way Gary Keller did? Four years after Gary published the above words, current world economic conditions sadly reveal that his fears were well founded.

But we don’t have to feel helpless or paralyzed by fear. And we don’t have to write a book. Gary Keller in anticipating the future, already wrote the definitive book on how avoid being a victim of his those things he feared. The Millionaire Real Estate Investor is both a handbook and a road map for achieving financial freedom, and there has never been a better time to start the journey.

The investment models in the book are based on the practices of more than 100 successful investors who followed a proven path that ultimately led to wealth building and financial independence. Based on interviews Gary Keller and his coauthors Dave Jenks and Jay Papasan conducted, they determined that the investors were people of varied backgrounds and resources who shared a burning desire to succeed. Their success depended on a crucial first step to move beyond fear and doubt to develop and follow a plan to change their lives.

Because of the Millionaire Real Estate Investor we can afford to see the current economic conditions as an opportunity rather than a setback. Interest rates are at the second lowest they have been in ten years home prices are at a level few could have conceived two years ago and we have a timely tool for charting the way to financial well being. Examples in the book show that:
1. Building financial wealth through real estate is possible.
2. Building financial wealth through real estate is possible for everyone.
In Gary’s words, anyone can, not everyone will.

It is to be noted that even though all the investors in the Millionaire Real Estate Investor achieved million and multimillionaire status, the word millionaire in the title is used as a synonym for well being, and the term wealth should not to be confused with riches.

If you are interested in finding out more about the MREI method of financial success, attend one of the seminars we are offering in Albuquerque, NM at the Greater Albuquerque Chamber of Commerce, the Hispano Chamber of Commerce and at Keller Williams Realty . For more information, call: 505-363-5156 or 505-304-5080.

February 2009 Market Update --The Greater Albuquerque Area of New Mexico

2009-03-18T23:15:00.000-07:00

Indicators for February’s residential real estate market in the Greater Albuquerque Area were inconclusive as to whether the market was shifting upward or down. We had more new listings entering the market than in January but the inventory decreased. The combined total for detached, single family homes, condos and townhomes on the market was just over 6,000. That’s good! We had more closed sales in February than in January but fewer pending(properties with accepted offers awaiting closing) sales.

In January there were 324 closings and in February 343-significantly less than at the same time in 2008. Not every market area saw sales activity. The busiest areas were the City of Albuquerque and Rio Rancho followed by the Los Lunas, Belen, Bosque Farms area.

Average sales price continued its decline, but the median price showed a slight increase. Single family detached homes were $209,515 (average) while the median was$184,900. The top selling price range for detached homes was $200,000 - $249,000, and for condos and townhomes $140,000-$159,000. The average number of days on the market increased to 96 with an almost nine-month supply of homes onthe market.

It is difficult to evaluate the trend of the market based on the current statistics. We may have to wait for April and springtime to see if trends become more defined. Are they the result of seasonal adjustments or market conditions? Are they a combination of both?

Body Count 13 - No Serial Killer on the Loose

2009-03-01T21:24:00.000-07:00

Body Count 13, the headline of the Albuquerque Journal screams in bold three-fourths-inch type. And in smaller type, making us breath a sigh of relief, There’s no Serial Killer on the Loose, APD [Albuquerque Police Department] Chief Says. But the unearthing of so many bodies next to a gated community on the edge of the southwestern expansion of the city is a worrisome mystery that continues to unfold. Two of the bodies have been identified as young women in their twenties who disappeared 2004-2005. The cause of their death and why they were buried in that spot is yet to be determined. The search continues. No one knows if more bodies lie hidden there. Local and national television news photographs show a site that looks like a huge archeological dig. I needed to see it for myself.

Just over a year a go, I helped a client move into a gated community adjacent to vacant lands that are now the subject of nationalheadlines. I called up my former client and we agreed to visit the site together. The directions are: south on Coors to Dennis Chavez, to right on 118th Street across from one of the neighborhood school being built according to LEED specifications. The gates swing open for me as I turn right from 118th street into my former client’s community. He is waiting for me. He climbs into the car and we return to 118th, turn right and in two minutes are at the excavation site.

It is as I saw it on CNN--neat mounds of earth and trenches are spread over the fenced-off 100 acre area that a builder had started to prepare for residential construction. Some of the dig is quite close to the street. A van parked on the site has Crime Lab prominently written on its side. We park near a police car on the street and get out of our car for a closer look and to take pictures. The site is quiet. Today is Sunday. My client says that on weekdays diggers with shovels are all over the site. A few other people are are parked nearby and are taking pictures also.

One of the photographers is from the Albuquerque Journal and we talk about how unlikely it seems to have a crime scene in such a beautiful spot. The mesa stretches peaceful, serene and undisturbed as far as eye can see westward. Eastward and to the south, the Sandia and Manzano Mountains rise - today a blue-green backdrop for the city of Albuquerque. As the city expands westward in the only direction in which undeveloped land remains available, we have arrived at this place that as recently as five years ago was peaceful, pristine, undisturbed land conceivably ideal for the perfect crime or a permanent resting place. As things stand, New Mexico, geographically one of the largest states in the Union and in population one of the smallest, seems paradoxically blessed and cursed with an abundance of such spaces.

Almost one year ago, my then client, a former real estate professional himself, relocated from another state and chose to buy a home in this newly developing area precisely for the beauty, the views and the nearby vast open spaces. Had it not been for the downturn in the community, building in this adjoining development would have continued without interruption and we would not have had to wait for for hikers to make the gruesome chance discovery. Findings, so far, indicate that disturbance at the site apart from that of the builder, date back four or five years, hence the APD’s determination that no serial killer is currently running loose.

For the time being, residents are breathing a sigh of relief. But the discovery is unfortunate and disquieting. Albuquerque and indeed all of New Mexico hope no more bodies will be found, and impatiently await the solving of the mystery and the restoration of order in a community that is more often than not described with words that evoke safety, beauty, calm, quality of life.