New Mexico Real Estate

Are you Underwater? Take Charge!

2011-07-11T07:19:00.001-07:00

Are you underwater with your mortgage? Did you lose your job? Are you facing insurmountable health costs? Are you having trouble keeping up with your mortgage payments? Getting divorced? Stuff happens. If you are thinking that foreclosure is your only option it is not. However, if you just sit and do not take action it may end up being your only way out of an uncomfortable situation.
You worked hard, saved, followed your dream to buy a home. Now you need to put some effort into keeping it. Here are some steps you can take to find a solution that is better than foreclosure. Where you choose to begin may depend on your perception of the level of difficulty you face or the length of time you have been struggling to keep up with your mortgage payments. Whatever you do, beware of scams that include “counselors” who ask you to pay counseling fees. A new law now addresses that. And DO NOT under any circumstance, sign over to anyone, the deed to your house.

Consider these options:

Call and talk to a trusted real estate professional.
Call your mortgage lender and explain your difficulty. You can request a restructuring or modification of your loan.
Call the Housing and Urban Development (HUD) and request a free housing approved counselor.
Ask your lender to approve a short sale.

You are not the only person underwater and worried about foreclosure these days. You have lots of company. What happens in your particular case in the end will depend largely on how you choose to deal with your situation. Take action! Get out your mental life raft or hot-air balloon and float or soar above the water you think your are drowning in.

Homes of Enchantment in Paradise Hills

2010-10-19T15:38:00.000-07:00

One of the premier homes in this year's Home of Enchantment Parade is in Paradise Hills. Check out this home by one of Albuquerque's premier custom home builders.

The attractiveness of Paradise Hills is its eclectic mix of homes and communities with single-family detached homes, condos and town homes as well as custom and production built, newer and older, contemporary and traditional spanning City of Albuquerque and Bernalillo County jurisdictions.

Paradise Hills has one of the oldest established golf courses in the city of Albuquerque, a community center with programs for all ages, bike paths, user-friendly parks, a nearby mall to augment the smaller shopping centers scattered throughout the area, schools and for all ages.

The area has a strong sense of community. The long-established Paradise Hills Civic Association supports quality of life issues and is well known for strong advocacy on behalf of residents.
Eloise Gift
Albuquerque Realtor
Gift Realty NM

Blog Action Day 2010 A Worldwide Call to Action

2010-10-15T09:27:00.000-07:00

Water, water everywhere,
Nor any drop to drink (Coleridge)

Today is Blog Action Day 2010 when bloggers across the globe will write on the topic of life-sustaining water. I hope to hear from people who have an abundance of water and from those who have little. I don't expect that anyone will confirm that water is everywhere because, sadly, many communities are already running short. I expect that Blog Action Day 2010 about "Water" will draw attention to the global problem, build awareness that they exist, and start a groundswell of goodwill to address the problems. I hope that with people who live in countries of greatest access to clean drinking water will be motivated to to help those who live where lack of access to a commodity so vital to life is lacking.

Having to choose between drinking dirty drinking water and having no water is not a choice. Both will have disastrous outcomes.

Wars, climate change, industrial wastes, carelessness are all causes of water pollution and/or shortage leading to sickness and death and all can be corrected. Sadly, the words from the Rhyme of the Ancient Mariner is true for people in some places on our planet. We hope the efforts of this day will help to reverse and change course for everyone of these places. See also, New Mexico Real Estate.
Eloise Gift
http://www.giftrealtynm.com

This Land Can Be Your Land

2010-07-01T08:57:00.000-07:00

Rio Rancho is the fastest growing city in New Mexico but you can still buy vacant in just about any of the four quadrants of the city. The 1-acre lot shown here on 13th Avenue (Unit 7 Block 59 Lot 14) is centrally located and easily accessible from the intersection of two major cross streets – Rainbow and Northern – major arteries that place both the new city center and Northwest Albuquerque only minutes away.

This lot is close to a major residential development that is under construction at the corner of Rainbow and Northern, an indication that utilities - water and electricity - are in the area. Wide open spaces with unobstructed views of eastern southern and northern mountain ranges surround the lot. This and many other vacant lots are available alongside elegant, reasonably priced homes throughout Rio Rancho.

Albuquerque, New Mexico Real Estate Market

2010-06-14T09:07:00.000-07:00

Market Update

Real Estate Market Statistics provided by the Greater Albuquerque Association Of REALTORS®, for May, 2010 show that 731 single-family detached homes sold in the greater Albuquerque area, compared to 678 in April. This was the highest sales record for the month of May since 2007. (You may remember that 2007 was the year of the start of market decline in our area.) The May statistics also reflect an increase in sales of 28.09 percent in sales for the city of Albuquerque over May 2009, and similarly for Rio Rancho, an increase of 37.08 percent over the same period.

The median sale price for single-family detached home sales remained $175,000 for the 3rd consecutive month. Average sale price, however, continued to decline. In 2008, the average sales price for single-family detached homes was $210,406; in 2009, it was $247, 795, and in May, $210,406. Nevertheless, both median and average sales prices are still above those of 2005 when the annual average was $205,731 and the median $166,500. In analyzing the figures, it may also be useful to bear in mind that the highest selling price ranges are currently between $160,000 and $179,000 for single-family detached homes. (Single-family detached home listings and sales represent approximately nine times those of attached homes listings in our market area.)

What drives our Market?

Continued low interest rates, declining home prices, and FHA loans seem to be the current driving forces behind our market. According to several reliable sources, in recent weeks, contrary to what many expected, the 30-year fixed-rate mortgage remained comparatively, low averaging 4.72% - 4.79%, down from 5.59% a year ago. Also, average rates on 15-year fixed-rate mortgages were 4.17%, falling from 4.2% to 5.06% in previous weeks and 15-year rates set a new low in recent weeks. First-time homebuyers still have a resource in FHA loans. .

The Million dollar Question

The question still remains. Is our market recovering? In one form or another, that’s the question I hear most often. My answer is that our market has not fallen as much as it could have. Our average and median prices are still better than they were 2005. I think the market is on the threshold of recovery. If the buyers sitting on the fence were to get off, it could be advantageous to them (the convergence of favorable conditions will not last indefinitely). That one act on their part might just prove to be the little extra push that the market needs to be on its way to recovery.

The Homebuyer Tax Credit Ended - Now What?

2010-05-29T22:54:00.000-07:00

In Albuquerque, New Mexico as in many other parts of the country, April saw a flurry of homebuying activity because those with the will and the means made an effort to sign purchase agreements before the end of April so as to get the federal homebuyer tax credit before ended at the April 31. For many who signed contracts, closings may not take place for another month or two so we are still experiencing the effects of the tax credit which may last through the summer.

People in and outside of the real estate industry are watching with interest to see what will happen next in the residential real estate. It's as if we are all taking a deep breath and are waiting to exhale as soon as we feel that we are completely out to the woods with respect to market recovery. Will the market maintain the momentum developed over the pasr few months? Almost one month later, there are no significant changes to report and many remain cautious and hesitant to predict the future. In the meantime, we continue to add listings, hope for improved employment figures, and that buyers will find lenders able and willing to provide loans. neIt will be interesting to see what next month's update. will offer us.

New Twist in Real Estate Land Grant Property Development

2010-04-07T08:34:00.000-07:00

In 2007, SunCal developers bought the last of one of New Mexico's largest land grant holdings from Westland Corporation with fanfare and great promise of development. With no direction in which to expand but west, the acquisition of the vast tract of land west of the city of Albuquerque seemed to offer great promise for development. With this latest announcement, however, the immediate future of the old Atrisco Land Grand property is in doubt. SunCal, for the moment, appears to be yet another casualty of the real estate and economic downturn.

Westward is the only direction in which the city of Albuquerque can expand. The Sandia Mountains block eastward expansion. Kirtland Air Force Base and the airport restrict expansion southward and the city of Rio Rancho and Native American lands block expansion to the north. The SunCal properties (formerly Westland Corporation and Atrisco Land Grant) is the last large tract of open, undeveloped space near Albuquerque. It is valuable land and without a doubt will one day, sooner or later, be an extension of Albuquerque roof tops or a new city on the west mesa, extending westward into the sunset.
Eloise Gift,CRS

Pilgrims in Albuquerque NM

2010-04-02T08:31:00.000-07:00

Throughout the Christian world, From Lourdes to various holy sites around New Mexico, today is a special day. It is Good Friday, a day for Pilgrimage. It is the day that marks the culmination of the observance of Holy Week commemorating the day of the Crucifixion of Jesus Christ some 2,000 year ago.

The young daughter of one of my clients told me yesterday, that she would start her 3-hour walk and 16th pilgrimage at 8:00 AM this morning. As I write, she is almost half way to El Santuario de Chimayo. In her sixteen years of pilgrimage, she missed one year because, new in her job, she could not get time off. She made up by doing the journey the following day. She told me that in her family, Good Friday is of even greater significance than Easter. The celebratory meal comes on returning home after the visit to the tiny chapel at the back of the Snatuario.

In Albuquerque, New Mexico, as I write, pilgrims are on their way or are already returning from a sunrise visit to Tome Hill near Los Lunas, about 25 miles south of Albuquerque. The pilgrims, some on their knees on the rocky slope, will be up and down the Hill all day today. To the north of Albuquerque, Carmelina and thousands of pilgrims from near and far, young and old, are converging on Chimayo, about 15 miles north of Santa Fe.

New Mexico is a destination for pilgrims. People, not only Christians, come to the state from all parts of the world on all kinds of pilgrimages. Bike riders and runners come to practice in the Sandia Mountains. Artists come to be inspired by and pay homage to places that were the inspiration of Georgia O'Keeffe and others artists. Good Friday draws Christians and other worshippers.

Sacred spaces all around Albuquerque and the rest of the state don't have to be pointed out, natives, residents and tourists alike, will tell you. People say that they feel tand are drawn to them. Albuquerque residents say that living in the city with its views of the Sandia Mountains is spiritual, if not sacred. The Rio Grande river snaking its way through the desert is spiritual and so is the Petroglyph Monument. Less than an day's drive will take you to many other sacred and spiritual sites that include Acoma, Chaco Canyon and other Native American pueblos
Eloise Gift
Gift Realty NM , Albuquerque New Mexico
http://www.eloisegift.com/

Economic Game Plan Outlined by Albuquerque NM Mayor

2010-03-30T10:06:00.001-07:00

A record 600 people packed the Albuquerque Marriott at I-40 and Louisiana yesterday to hear Albuquerque’s new mayor, Richard Barry, address the annual National Association of Industrial and Office Properties (NAIOP) luncheon.

Mayor Barry outlined his game plan for putting the city on a fast track for economic recovery. He said he plans to run the city more like a business and described three principles he would follow:

Albuquerque First
The mayor plans to direct city departments to buy local in an effort to keep jobs in the area and help small businesses get a bigger piece of the pie of business contracts.
Albuquerque Easy
The intention of Albuquerque Easy is to direct effort toward making it easier to do business locally. To that end, the city of Albuquerque will speed up the permit process by instituting electronic filing , create a business resource center in City Hall, and develop a more customer/ business friendly environment.
Albuquerque Recruits
Albuquerque Recruits relates to bringing more people to the region, encouraging business growth, and attracting new jobs and investments. This principle also relates to targeting businesses that are a good fit for the Greater Albuquerque region. The mayor made special reference to the solar and film industries.

The mayor featured three small businesses with video presentations during his speech –Valliant Printing, minority, woman-owned company by Keiko Johnson; Steve Pasternoster, a restaurateur in the Nob Hill Area, and Schott Solar at Mesa del Sol.

The mayor made it clear that in speaking of Albuquerque, he meant the entire Greater Albuquerque Area that included Rio Rancho and Los Lunas. He specified and was applauded for saying that whatever opportunities for business arose, he hoped one area or another of the region would get it because it was in fact one region.

Technorati Tags: Albuquerque Economy,Albuquerque NM Events,Mayor Berry,Albuquerque Mayor,NAIOP,Albuquerque New Mexico Business

Tax Credit Expiring – Will HAMP Fill Gap?

2010-03-29T07:04:00.000-07:00

First-time and repeat homebuyers profited from the tax credit offered as part of the Federal Recovery and Reinvestment Act initiatives designed to help jump start the economy. That package helped sustain the residential real estate market through the past two years and has been particularly helpful to first-time home buyers, many of whom felt left out during the protracted increases in home prices up to 2007.

The first homebuyer tax credit extended initially only to first-time homebuyers, expired in 2009 and was extended and expanded to include some repeat home buyers. As we approach the expiration of the extended/expanded period, not only industry insiders but savvy consumers, doubting the feasibility of another extension have been wondering what would be the next best thing to do to support a market still in need of crutches.

The evidence all around us, even in New Mexico that seemingly weathered the downturn better than most other areas, according to national trend reports. Mortgage payments for many, are far higher than the value of their homes. To alleviate the burden, consumers approach lending institutions seeking restructuring or modification of their loans only to receive no response or responses that make their situation more arduous. In cases where restructuring or modification becomes even more crucial because homeowner are facing reduction in earnings through job loss or other setbacks, unable to reach agreement with lenders for restructuring or modification, many simply choose to walk away to homelessness or rental at a price more affordable than mortgage. Still others try to sell but are unable to sell at a price high enough to pay off the mortgage balance. One alternative is to seek agreement for a short sale (the lender agrees to accept an amount short of what is actually owed) currently a long process with uncertain outcome.

If and when the short sale is executed, the beleaguered homeowner may face one of two additional challenges. They may be required to sign a promissory note for the difference between the amount owed and the amount of the sale or a tax liability for the amount forgiven by the lender.

Given this scenario many, it is welcome news that President Obama has chosen to tweak the previously agreed upon Home Affordable Assistance Program (HAMP).

The revised FHA- HAMP program in providing relief to homebuyers where it is needed most, will fill the gap that the expiration of the tax credit will leave and continue to support an industry that is still fragile and in need of stimulus.

Technorati Tags: first-time homebuyers,new mexico real estate,HAMP,residential real estate,homebuyer tax credit,President Obama,home affordable modification program

Homebuyer Tax Credit Expiring - Updated HAMP Just In Time

2010-03-27T11:50:00.000-07:00

First-time and repeat homebuyers profited from the tax credit offered as part of the Federal Recovery and Reinvestment Act initiative designed to help jumpstart the economy. That package helped sustain the residential real estate market through 2008 to date. It has been particularly helpful to first-time home buyers, many of whom felt left out during the protracted increases home prices up to 2007 (at least in our neck of the woods - New Mexico).

The initaial tax credit for first-time homebuyers expired in 2009 and was extended and expanded to include repeat home buyers who met certain criteria. As we approach the expiration of the extended/expanded period, not only industry insiders but savvy consumers have been doubting the feasibility of another extension. The million-dollar question was what next could be done to help a still-ailing housing market.
The evidence of a market still in ill health is all around us, even in New Mexico, a state that seemingly weathered the downturn better than most others, according to national trend reports.

The evidence, from talking with clients, is that mortgage payments for many are sometimes significantly higher than the value of their homes. To alleviate the burden, some approach lending institutions to seek restructuring or modification of their loans only to receive no response or responses that in their perception, make their situation more difficult. In cases, these homeowner are facing reduction in earnings because of job loss or other financial setbacks. Unable to reach agreement with lenders for restructuring or modification, many simply choose to walk away to homelessness or rental at rates more affordable than their mortgage.

Others try to sell but are unable to sell at a price high enough to pay off the mortgage balance and do not have the resources to pay the difference. A portion of this latter group seek agreement for a short sale (the lender agrees to accept an amount short of what is actually owed) a long process with uncertain outcome. If and when the short sale is executed, beleaguered homeowners may face additional challenges. They may be required to sign a promissory note for the difference between the amount owed and the amount of the sale or a tax liability for the amount forgiven by the lender.

The long and short of the situation is that vacant homes with delinquent mortgages persist. Many homes are occupied with residents who are barely managing to pay mortgages, may be one month away from defaulting or are several months behind, waiting for the axe to fall. That is why the news of President Obama's latest initiative one month before the expiration of the homebuyer tax credit is welcome news. The President has chosen to tweak the previously agreed upon Home Affordable Assistance Program (HAMP) with

the inclusion of considerations for principal reduction. The revised FHA- HAMP program is expected to provide relief for homebuyers where it is needed most. It is also expected to fill the assistance gap the expiration of the tax credit will leave and continue support for the residential real estate industry whose recovery has serious implications for overall economic well being. - Eloise Gift, REALTOR, CRS, GRI, e-PRO

Saturday Mornings

2010-03-13T09:21:00.000-07:00

Some sleep in on Saturday mornings. Others escort children to swim meets and other sports events. Saturday mornings are great times for a sumptuous brunch. As a REALTOR, I present seminars, show houses or meet with clients for whom Saturday morning is the only available time for real estate matters. As a REALTOR, Saturday morning is a continuation of the week, not the beginning of the weekend.

Be Safe as you Spring Forward

2010-03-07T17:17:00.000-07:00

Sunday, March 14 at 2:00 a.m. we revert to standard time. We must all remember to move our clocks forward 1 hour – "spring forward "- so as not to miss our standing Sunday appointments and fall out of step with the rhythm of our lives. In addition, to help keep us safe in our homes, the University of Oklahoma Police Department recommends tasks we might consider carrying out in conjunction with adjusting our clocks.

Coinciding with the time change, the department recommends:

Checking and replace batteries in smoke and carbon monoxide (CO) alarms
Preparing disaster supply kit for your house (water, food flashlights, batteries, blankets). If kit is already prepared, do semi-annual check ing of contents including testing /replacing flashlight batteries).
Preparing or checking car-emergency kit and include a separate “Cold Gear” bag with items necessary for one to stay comfortable in case of emergency in cold weather.
Checking home and outbuilding storage areas for hazardous materials (HAZMATS). Discard safely all unused and outdated. (In Bernalillo County, call 1 877 643-1956 or344-3655)
Checkingand discarding (safely) all expired medications.

The same checks should be carried out again in the fall when we switch to daylight saving time again.

Finally, the United States Consumer Protection Safety Commission suggests:

Replacing smoke alarms every ten years.
Replacing carbon monoxide alarms every five years.

Have a safe and happy spring!

Market Update - January 2010 Home Sales

2010-03-03T21:46:00.000-07:00

According to the Greater Albuquerque Association of Realtors (GAAR) 43 attached and 349 detached homes sold in the Greater Albuquerque area, reflecting an increase of 7.72 more closings than occurred in January 2009. In addition, 740 detached and 82 attached homes were under contract and awaiting closing - a total of 2960 more than in January 2009.

Of the detached homes sold, 241 were in Albuquerque, 1 in Corrales, 57 in Rio Rancho, 4 in Bernalillo, 4 in Placitas, 19 in the East Mountains/Estancia area and 23 in Valencia County. Sales increased in Albuquerque, Rio Rancho, Bernalillo, Placitas and the East Mountains, held steady in Valencia County, and decreased in Corrales.

Both average and median sale prices declined from January 2009 to January 2010. In January 2010 the average sale price for a detached home was $205,624 and the median $172,240. In January 2009 the average sale price was $214,872 and the median $175,000. For attached homes the average sale price in January 2010 was $141,351 and the median $144,000. In 2009 the average attached home sale price was $180,159 and the median, $158,500

New listings entering the market in January numbered 1617. This was 3.30% less than in January 2009 when 1,658 listings entered the market. In January 2010, the Greater Albuquerque area had 4,766 detached and 566 attached homes listed for sale, 10.23% fewer than there were in January 2009 (5,309 detached and 616 attached).

The number of days on the market for detached and attached homes declined 3.5%. We are exiting the traditional slowest market period of the year but the past months have not been traditional in any way. We had a market scarred by short sales, foreclosures and tight lending practicest and we had the federal input of stimulus funds and regulations. The statistics for February should be in soon. It will be interesting to see if trends remain consistent.

International Women’s Day with Half the Sky

2010-02-28T21:59:00.000-07:00

International Women’s Day developed sporadically at the turn of the 20th Century out of the need to validate the struggle of women for recognition and equality. The promotion of the cause by the United Nations brought global attention and consolidation of the women’s movement, which, throughout the United States and many other countries, is now celebrated March 8, each year;

For International Women’s Day 2010, CARE, the humanitarian organization with a poverty-fighting mission that focuses on women and girls is once again partnering with like-minded organizations to for a live, one-day only event at 7:30 p.m., March 4 in select theatres across the United States ; s

Theatres will show the movie Woineshet inspired by stories from the New York Times bestseller, Half the Sky, by Nicholas Kristof and Sheryl WuDunn. The goal is to celebrate women and girls and inspire them to rise above poverty and circumstance that would prevent them from thriving and achieving their potential.

In Albuquerque, Half the Sky will be shown in the following theatres at 7:30 p.m., March 4 2020.

Albuquerque Rio 24
Albuquerque Downtown 14
Cottonwood 16.

Albuquerque Market Update - January Sales

2010-02-28T16:48:00.000-07:00

According to the Greater Albuquerque Association of Realtors (GAAR) 43 attached and 349 detached homes sold in the Greater Albuquerque area, reflecting an increase of 7.72% more closings than occurred in January 2009. In addition, 740 detached and 82 attached homes were under contract and awaiting closing - a total of 2960 more than in January 2009.

Of the detached homes sold, 241 were in Albuquerque, 1 in Corrales, 57 in Rio Rancho, 4 in Bernalillo, 4 in Placitas, 19 in the East Mountains/Estancia area and 23 in Valencia County. Sales increase in Albuquerque, Rio Rancho, Bernalillo, Placitas and the East Mountains, held steady in Valencia County, and decreased in Corrales (January 2009 -3; January 2010-1).

Both average and median home sale prices declined from January 2009 to January 2010. In January 2010 the average sale price for detached homes was $205,624 and the median $172,240. In January 2009 the average sale price was $214,872 and the median $175,000. For attached homes the average sale price in January 2010 was $141,351 and the median $144,000. In 2009 the average attached home sale price was $180,159 and the median, $158,500

New listings entering the market in January numbered 1617. This was 3.30% less than in January 2009 when 1,658 listings entered the market. In January 2010, the Greater Albuquerque area had 4,766 detached and 566 attached homes listed for sale, 10.23% fewer than there were in January 2009 (5,309 detached and 616 attached).

The number of days on the market for detached and attached homes declined 3.5%.

The stars seem to be in alignment for market recovery. Days on the market continue to decline. The inventory is growing smaller, sales keep increasing as do pendings (properties awaiting closing) and price correction continues.

Albuquerque NM Real Estate Spring Headlines

2010-02-24T09:12:00.000-07:00

These are the topics that are leading the real estate discussions as spring approaches.

Existing Home Sales Surge.
Home Values Decline.
Foreclosure Activity Declines.
Mortgage delinquencies rise.
Pending Home Sales level off.
Flurry in New Homes Starts.

What does all this mean? Do these pronouncements indicate a turnaround in the market? Is this bad or good news for consumers? Sound off. What do you think?

Happy Valentine's Day!

2010-02-11T22:18:00.000-07:00

In February, we begin to see the end of winter and our thoughts turn toward spring cleaning, tidying up the garden and longer sun-filled days. St. Valentine’s Day comes along just in time to provide us an excuse to procrastinate, be frivolous and playful sending and receive silly and not-so-silly, gifts, poems, cards, flowers, chocolate, candy, and other trifles.

Because of St. Valentine’s Day, February is often called the month of lovers. Lover or not, feeling loved or not, the day gives us us a great opportunity to say, I love you. It really can be serious fun!

So while I await my chocolate and flowers, here’s my not-so-silly poem by Johanna Fuchs. Thanks Johanna!

Valentine’s Day is for expressing affection
Fond thoughts are coming your way;
We’ve always had a special connection,
So Happy Valentine’s Day!

Decade In Review - Albuquerque 1999-2009

2010-02-04T13:05:00.019-07:00

Sales Volume
According to statistics provided by the Greater Albuquerque Association of Realtors, in terms of sales volume, the real estate market in the Greater Albuquerque Area came full circle from 1999 to 2099. In 1999 7,007 homes were sold. In 2005 sales volume peaked at 14, 330. At the end of 2009, with 7,933 homes sold, sales were almost back at the 1999 level. The least number of sales for the decade occurred in 2000 when only 7,606 homes were sold.

Inventory
Not surprisingly, the year of lowest inventory of the decade was 2005 with and annual average of close to 2000 homes on the market and only 2,156 listed in the month of February. The year of highest inventory was 2008 with an annual average of approcimately 7000 homes on the market that year, the highest being 7,082 homes in the month of July. Later that year, in December, the inventory fell to 5,821.–Since then, the inventory has see-sawed between a high of 6,128 in July 2009 and a low of 5,156 (the lowest since April 2007) in December 2009.

Price Changes
Throughout the decade, with the exception of the year 2000, average prices in the Greater Albuquerque Area, have shown year over year positive changes up until 2008. The average price change for 2008 was -4.30% and in 2009, -7.72%. In 2009 all except four areas of the Greater Albuquerque Multiple Listing Service experienced year over year price decline. The four exceptions were Sandia Heights, Rio Rancho Mid North, Rio Rancho Mid West and Rio Rancho North, all of which showed appreciation ranging from 1.74% to 4.77%.

The steepest average price reduction (-7.72%) of any year since 1999 occurred in 2009. Areas of severest negative price changes were Pajarito with a change of -38.71%, Rio Rancho Southwest with a change of -28.o7%, and the Far North Valley with -26.89%. Highest area year over year increase (23.331%) occurred in 2006 when the average price of a home reached $227,883. In 1999, the average price of a home in the Greater Albuquerque Area was $150,264. Despite the price reductions of the past two years, the current average price of $214,662 is higher than all pre-2006 prices. The average price of Greater Albuquerque homes in 2005 was $204,502.

Conclusion
Looking back over the last decade, the big picture supports that Albuquerque real estate experienced a time of flux and readjustment. Prices of homes fell but are today higher than they were prior to 2006. The inventory rose and peaked and is almost back at 2001 levels, a real estate period considered normal. Although 2009 sales fell short of the 2008 volume, the surge in completed and pending sales activities during the last three months of 2009 suggest the beginning of the building of momentum towards complete market readjustment. With the promise of new jobs in the healthcare, film, and solar related industries aligning with actual historically low interest rates and tax incentives for home buyers, Albuquerque real estate shows promise for the new decade.

Albuquerque, New Mexico Movie-making Capital of the Nation

2010-01-26T17:47:00.000-07:00

Moviemaker magazine, in its Winter 2010 issue, placed Albuquerque, New Mexico at the top of its list (above Los Angeles) of places for making movies. Why?

Moviemaker Magazine discovered, among other enticements, Albuquerque's s a vibrant nightlife, 300-plus days of sunshine and diverse terrain and a great infrastructure for making movies. This infrastructure includes the NBC Universal Filmmaker Production Services' 25,000-square-foot prop, costume and wardrobe shop that opened in Albuquerque in 2008 as well as
Albuquerque Studios, the largest movie studio in all of North America. As if that space weren't enough, the city and surrounding areas provide rich and diverse topography and landscapes that easily “double for nearly every type of backdrop."

Some may be wondering if the area can live up to the expectations that come with the recognition of Moviemaker magazine. Today's announcement by Governor Richardson should do much to dispel those doubts. The Steven Soderbergh film “Knockout”, from Relativity Media and Lionsgate, will shoot in New Mexico in March and April. It is great news that reassures that the recognition is not premature. At a time when every city and state is vying for jobs, Albuquerque and other cities of New Mexico are happy to welcome Steven Soderbergh, Relativity Media, and Lionsgate with the over 100 jobs they will provice for New Mexico cast and crew.

Albuquerque Celebrates Legacy of Dr. Martin Luther King, Jr.

2010-01-18T13:42:00.000-07:00

- All men are caught in an inescapable network of mutuality.-
At the Fourteenth Annual Martin Luther King Jr. Community Commemorative Breakfast hosted by Grant Chapel African Methodist Episcopal Church at the Marriott Pyramid hotel this morning, a diverse crowd packed the ballroom, intermingled, celebrated excellence, greeted one another and met community leaders before hearing a spirited talk by Pastor Wayne Stafford of Allen Texas.

Pastor Wayne chose as his topic, the quote above, one many of the oft-repeated excerpts from famous speeches by the late Dr. King.

Rousing renditions from the New Mexico Mass Choir interspersed the program that began with the singing of Lift Every Voice and Sing and ended with all holding wrists instead of hands(thanks to the H1N1 virus) while singing the signature hymn of the the civil rights era, We Shall Overcome.

The commemorative breakfast has become an Albuquerque tradition that each year draws the community together to remember Dr. King and reflect on his dream. The celebration offers fellowship, speeches, Thirteen students received scholarships as they and community benefactors were recognized. The Greater Albuquerque Chamber of Commerce , as it has for several years, read of statement of commendation in honor of Dr. King.
Eloise Gift
Gift Realty NM

Albuquerque, N M Real Estate Market --Positive Fourth Quarter Update

2010-01-17T22:00:00.000-07:00

The fourth quarter report for the Greater Albuquerque real estate market holds no surprises..Greater Albuquerque Association of Realtors, statistics continue to point to a consistent march towards market rebalancing. The indicators include increased number of closed sales, diminishing number of days on market, reduced number of new listings entering the market and relatively slight declines in average and median closed sales prices.

Compared with the fourth quarter 2008 report, closed sales increased from 994 to 1334 (34.2%) for single family detached homes and for condos and townhomes, 147 to 187 (27.21%). But 2009 4th. quarter median and average sales prices were lower than those of 2008. The average sale price of a single family detached home decreased from $217,161 in 2008 to $211,805 (2.4%) in 2009 and the median from $183,000 to $175,000 (4.37%). Townhomes and condos saw even greater price reductions-9% for the average and 12% for the median.

Consistent with other indicators for rebalancing was the lowering of the average number of days it took to sell a house. Days on the market fell by nearly 3% below the 2008 4th. quarter figures for both detached and attached homes. New listings also decreased. Nevertheless, the total dollar volume of sales increased 30.85% for detached homes and for condos and townhomes 15.66%.
Eloise Gift
Qualifying Broker
Gift Realty NM
www.EloiseGift.com

Year in Review – Albuquerque New Mexico Real Estate 2009

2009-12-29T14:35:00.001-07:00

Greater Albuquerque Area
For the year 2009, with respect to the Southwest Multiple Listing Service (SWMLS) area of New Mexico where my business is based it was the best of times and the worst of times in real estate. It was not all bad.

The Worst of Times-It was the worst of times because the subprime mortgage problems and the subsequent meltdown in the economy had an impact that led to the departure from the industry of associates and affiliate. Individuals and businesses from brokerages to inspection companies, home appraisal and title companies decided to shut down or restructure.

It was also the worst of times because the new housing market all but came to a standstill leaving a swath of abandoned, unfinished building sites across the city. Some homebuilders simply stopped production in mid stream, some left town, and others merged. (Pulte and Centex merged and Pulte brought the Del Webb community to the Albuquerque area.) D. R. Horton stayed and continued to build. Self-described green home builders, Artistic Homes and Paul Allen Homes are also still in business. The 1,500 homes built in New Mexico in 2009 represented the lowest annual total of new homes built in 20 years (Home Builders Association).

The year 2009 was the worst of time for sellers because the price of resale properties continued to decline and many homeowners saw the value of their homes drop below a price at which they could afford to sell. Sadly, many had to opt for short sales or worse, deed in lieu of foreclosure. Communities across the state reluctantly came to terms with the fact that property values were no longer increasing but decreasing and those who could afford to sell gradually loosened their grip on their ideal price. With this acceptance, somewhere around midyear, properties started moving at a faster pace that culminated in a year-end rally of pending and closed sales that outperformed the two previous years for the same time period; reduced average days on the market and helped lower inventory.

It was the worst of time because professionals and consumers alike learned to accept the new reality of short sales, and bank-owned properties to the extent that 2009 was the year the SWMLS added these categories to listing criteria. But it is an ill wind that blows nobody no good. More

The Best of Times-It was also the best of times in New Mexico real estate for starting a new businesses if one took the advice to re-margin, cut costs and leverage. Gift Realty NM began operating in 2009.

It was the best of times for buyers. There has rarely been more favorable time for buying a house with respect to price, availability and mortgage interest rates. Added to that, the American Recovery and Reinvestment Act (ARRA) came to the rescue of first-time buyers and later resale buyers with tax credits of $8,000 and $6,500 respectively. This support helped the market by boosting sales of homes in the $100,000 to $250,000 price range.

Scrutiny and Reform
Real estate professionals will remember 2009 as a year for scrutiny and reforms as the industry collaborated with the government in continuing efforts to protect the consumer. Particular attention was given to rules governing:

Short sales and bank-owned properties

Home Appraisals by way of the Home Valuation Code of Conduct (HVCC) – As reported by National Association of REALTORS® (NAR) – REALTORS® and mortgage brokers are prohibited from selecting appraisers. Lenders may use “in house” staff appraisers to conduct appraisals. However, the loan production staff is prohibited from:

Selecting, retaining, recommending, or influencing the selection of an appraiser; and,
Conducting any substantive conversation with an appraiser or appraisal management company regarding the appraisal assignment.

For the consumer, the appraisal process has remained largely intact. However, consumers may find the process takes longer than and may be more costly than it has been in the past.

However, the Federal Housing Administration (FHA) announced that the enactment of two appraisal Mortgagee Letters (ML) initially to be implemented on January 1, 2010 will be delayed until February 15, 2010 to provide FHA and lenders additional time to adjust systems to accommodate the changes. (NAR)

Truth In Lending -The proposed rule to amend the regulations implementing the Truth in Lending Act (TILA) includes new and amended disclosure obligations for creditors, restrictions on loan originator compensation, and requirements to prevent adverse steering based on loan originator compensation, among other changes. TILA, of course, does not apply to transactions that are primarily for business, commercial, or agricultural purposes, but with real estate mortgages.

The real estate industry (NAR) supports the proposed rule's overall reform of the TILA Regulation disclosures to focus the consumer on the most meaningful terms in simple tables that should prove much easier for consumers to understand. That, in turn, should help consumers find fair and affordable mortgages, resulting in a reduction in default rates and foreclosures and helping to stabilize communities. NAR also supports the Board's efforts to eliminate adverse steering of consumers to loan products that may not be in their best interests. (NAR)

The more things change, the more they remain the same
During 2009, experiencing the Greater Albuquerque residential real estate market and hearing people talk about it as the year rolled along, without paying close attention to local statistics, one could easily conclude that it was all bad. But we have already established that it wasn’t. (Read January 2009 Market Update for a comparison. http://activerain.com/blogsview/893455/greater-albuquerque-market-report-4th-quarter-2009 However, the more things change, the more they remain the same, and for the first half of the despite some positive news there were also negatives, and the market seemed ambivalent as if it could go either way- up or down. Month after month, pending sales increased, days on the market decreased in some areas and not others, inventory built up in some neighborhoods and not others. Gradually, however the overall buildup in inventory of the two previous years started to fall. Similarly, overall average days on the market although remaining higher than in 2008, decreased from an average of 88 in January to 76 at the end of November.

Although average price showed a significant drop below that of 2008 (average price at the end of the third quarter of 2008 was $235,051 (8.5% higher than 2009) and the median was $193,205 (5.71% higher than 2009) during 2009, the variation in average price from the beginning of the year to the end was comparatively small. The average sales price at the end of the first quarter was $215, 295 and the median $182,000. At the end of the third quarter the average price was $214,902 and the median $182,000. First-time homebuyers taking advantage of the ARRA tax credit, and historically low interest rates kept the Greater Albuquerque residential resale market going throughout the year, boosting sales in the $100,000 to $250.000 price range. October 2009 had the 2nd highest monthly sales for 2009 and the 3rd highest since September 2007.

When all is said and done, the real estate market did not come to a halt in Albuquerque. It tripped and faltered as happened all across the nation but in Albuquerque, Rio Rancho, and Los Lunas it picked up steam in 2009 and has kept rolling and powering through the year with a comparatively respectable end-of-third-quarter report. If I may rely on current performance to predict the future, I would hazard that the final tally at the end of December will show 2009 outperforming 2008 and 2007at least in sales volume. That alone would confirm a commendable year of achievement in the local Greater Albuquerque New Mexico real estate market and augurs well for 2010. Good-bye 2009! Welcome 2010!

Eloise Gift
Gift Realty NM
Albuquerque New Mexico
http://www.eloisegift.com/

The Story of the Christmas Chile

2009-12-24T08:04:00.000-07:00

Chile is a household word in New Mexico. As a ne resident or a tourist it is to your advantage to learn as soon as possible the answer to the question simply put, “Red or hot?”If you don’t, you may find yourself waiting interminably to be served at restaurants, or even worse, make the wrong choice and regretting it.

Chile, a hot not sweet pepper, grows in New Mexico and is the most pervasive condiment in Southwestern cooking. Chiles come in two colors, red and green. Connoisseurs can distinguish the flavors of the two and will swear one is hotter than the other. Personally, I think the distinction depends largely on the preparation of the chile, a particular dish, and the myriad ways in which the peppers may be used to enhance flavors. I like red chile in some dishes and green in others. I think red can be much hotter.

Many stories beyond its culinary uses surround the chile. One relates to a Christmas tradition-the story of the Christmas Chile. It is said that in the Southwest, it is a tradition that after the Christmas tree is decorated and the children fall asleep, their parents carefully hide a chile among the limbs of the tree. On Christmas morning eager children search for the chile knowing that Santa leaves an extra present to the child who finds it first. Will you be continuing this Southwestern tradition this Christmas Eve?

Happy holidays!

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

2009-10-26T09:26:00.001-07:00

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

2009-10-19T16:50:00.002-07:00

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 highest selling areas are areas 50, 92 and 120 - Northeast Heights, Southwest Heights and Paradise West in Albuquerque.

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.

A Powerful Noise: Meg Ryan says A POWERFUL NOISE is the "real spirit of the women's empowerment movement"

2009-02-22T14:23:00.000-07:00

A Powerful Noise: Meg Ryan says A POWERFUL NOISE is the "real spirit of the women's empowerment movement"

Happy Valentine's Day

2009-02-14T22:42:00.001-07:00

Valentine's day is a day for love, thughts of beautiful people, beautiful places and beautiful things. This lake and its surroundings, though far away from home were picture perfect. If ever there was a place for lovers, this was it. In honor St Valentine and all lovers, I share it today. Happy St. Valentine's Day!

The Forty-Ninth New Mexico Legislative Session

2009-02-07T13:49:00.000-07:00

The Forty-ninth New Mexico Legislative Session is in full swing in the state’s capital city of Santa Fe at the Roundhouse. We are in an odd-numbered year so the session that opened January 20, will last 60 days until March 21. The lawmakers have a full calendar that include the house calendar and the senate calendar. These calendars do not include the the packed schedules of the committees of both the house and senate.

Because of the extreme political and economic circumstances facing the state and the nation, this session presents urgent challenges. Current events at home and across the nation bring ethics reform into full focus. The focus is also on health care - an ongoing, burning issue for state and federal government alike. Bills relating to education, crime prevention, housing, the environment are not new nor less urgent but funding considerations underpins considerations will surely affect deliberation and passage of all bills. Law makers will certainly be earning their stipend this session.

Apart from work relating to the serious business of drafting and passing legislation for the state, the legislative session also includes a busy social calendar which, as the web page states, does not include every event. The Governor’s Prayer Breakfast sponsored by Presbyterian Healthcare, for example, does not appear on the social calendar. It appears every group that wishes, may go the Santa Fe for days of fun and direct or indirect lobbying during the legislative session. The special days on the calendar reflect cultural, business, and special interests - American Indian Day, Hispanic Culture Day, African American Day, Culture Day, Santa Fe Public School Day, Animal Advocacy Day, WIPP - to name a few of the social events that I think are a mixture of fun and seriousness.

Groups seek to get the attention of their lawmakers and raise awareness for their causes through demonstrations, presentations, displays and visits to the office of their representatives. Hardworking committee members, behind the scenes workers, and special-interest groups get opportunities to take a break and network. local businesses a boost. Hotels, restaurants and caterers especially must thrive during the legislative session because of the increase in visitors, their dinner meetings, breakfasts, receptions and the

I have visited Santa Fe once already during the session for a session related social function that was not at the Roundhouse. On that occasion I drove my car. Santa Fe is fifty minutes from Albuquerque. On my next visit, I will attend a session at the Roundhouse and I plan to take the Rail Runner even though the freebies are over. If you would like to join me in visiting the legislature before the session ends, here is the schedule. All Aboard!

2008 Residential Home Sales Report, Greater Albuquerque Area

2009-01-31T01:35:00.000-07:00

An official report from the Greater Albuquerque Association of Realtors (GAAR) supports my findings in my earlier unofficial report on Active Rain. Single family detached homes are at their lowest since 2001 and townhomes and condos are at their highest. Here is the press release.

Albuquerque, NM, January 28, 2009 -- The Southwest Multiple Listing Service, Inc. (SWMLS), a subsidiary of the Greater Albuquerque Association of REALTORS® (GAAR) reports that home sales units decreased by 25.07 percent from 10,961 units sold in 2007 to 8,144 units sold in 2008. If compared to annual sales to previous years, sales levels for 2008 are similar to the levels in 2001.

For 2008, three areas in the Greater Albuquerque market area showed an increase in units sold compared to 2007 sales. Average sales prices for Single Family (R1) homes show a decrease of 4.3 percent, from $243,089 in 2007 to $232,626 in 2008. The median sales price for Single Family homes decreased by 3.5 percent from $198,500 in 2007 to $191,500 in 2008. The average sales price in 2008 for Condo/Townhomes (R2) was $162,783, compared to $161,290 in 2007, a .9 percent increase. The median sale price for Condo/Townhomes rose by 3.4 percent from $149,000 in 2007 to $154,000 in 2008. For the Greater Albuquerque market area, ten MLS areas showed a positive increase in average sales prices when compared to the previous year.

Don Padilla, chairman of the Greater Albuquerque Association of REALTORS®, says “2008stats demonstrate steady activity in our local market, and the small decrease in median and average sales price reflects that our market activity is not dominated by a lot of foreclosure sales.”

The 21,297 listings added during 2008, decreased by 21.1 percent from the 26,979 added in 2007. This significant decrease can be attributed to the already high amount of existing listing inventory. The area’s listing inventory of single family and condo/townhomes in 2008 was at its highest level ever for the market area. This is one indication of 2008 as a “buyer’s market,”

When comparing total dollar volume of Residential Home Sales in 2008 to 2007, a decrease of $698,052,191 is shown. In 2007 the total dollar volume was $2,398,316,501versus $1,700,264,310 in 2008. Another indicator of the local market conditions is the days on market (DOM) it takes to sell a home. The DOM for Single Family homes in 2008 began in January at 71 and fluctuated close to that level throughout the year to end at 76 in December. Although this number is higher than in previous years, it is not cause for alarm. (Emphasis mine.) Looking further at the DOM breakdown in 2008, it’s safe to say most of the homes sales in Albuquerque, Rio Rancho and the East Mountains took place within the first 30 days of being listed. Press Release of the Greater Albuquerque Association of Realtors.

I chose to highlight that there is no cause for alarm because many indications reinforce the fact that there is indeed none, not least of which is the news item published concurrently by salary.com that Albuquerque is in the top five cities for building wealth.

The City of Albuquerque - An Update

2009-01-29T15:29:00.000-07:00

The Founding of Albuquerque
Albuquerque, New Mexico is over 300 years old. Before the Spanish explorers arrived, Pueblo Indians chose the fertile spot on the bank of the Rio Grande to grow their crops. With the arrival of the Europeans, the small trading post grew. Eventually spanning both banks of the Rio Grande (the Nile of New Mexico) Albuquerque became an important stop on the Camino Real, and is today, the state’s largest city with over half a million people.

Early Years
In its early years the city expanded north and south along El Camino Real, Old Route 66, and east-west as the route got realigned along Central Avenue. Old Town, built in traditional Spanish style around a plaza is a good starting point for a visit to Albuquerque.

Arrival of the Railroad
The arrival of the railroads led to another growth spurt which helped define and shape the city in ways that are still evident long after the heyday of the railroads. Someone familiar with railway towns overheard my comment about the seemingly odd configuration of clusters of commercial and manufacturing areas across the city and gave me the simple and obvious explanation – business followed the path of the railroad.

New Growth
The city is currently in another rapid growth phase; this time mainly across the river towards the west. Go West in Albuquerque. The northeastern side of the city already developed up to the foothills of the Sandia Mountains leaves room only for infilling of areas bypassed in periods of previous development.

The Northeast
Of the four quadrants into which the city is divided, the northeast is the oldest, most developed and most populous. Well established over a number of years, this part of town is where you will find Old Town, Sandia Laboratories, the University of New Mexico, and ABQ Uptown with its new upscale office buildings, shops, and restaurants. Many of the most expensive homes in the city are also found in this part of the town. As available land becomes developed, lots and home prices have increased.

The Northwest
The northwest quadrant is undergoing rapid development Bulldozers and earth movers seem to be everywhere as large tracts of previously undeveloped lands give way to new housing,. Single family homes, and an increasing number of commercial and industrial sites wrap around the Petroglyph National Monument and skirt the edge of the high mesa where the five sleeping sisters .(small extinct volcano cones that outline the area) have remained undisturbed for thousands of years.

The influx of new residents and subsequent explosion in residential and commercial development across the city led to a spate of road and highway construction to keep pace with the needs of the growing population. The “Big I” connector of the Northeast finally has company in the new Coors/I-40 Overpass in the Northwest, with another expected at I-25 and Jefferson.

Southeast Development
The development of the northeast section of the city progressed naturally into the southeast. Thus the southeast quadrant is home to both older elegant and no-so-elegant neighborhoods that border on long-established Sunport National Airport and Kirtland Air Force Base, both of which cover extensive tracts of land that prohibit out further expansion of the city towards the southeast, except for the most recently found Mesa del Sol lands now under development just south of the airport. Mesa del Sol is a master-planned mixed-use, sustainable development of 13,000 acres within the city limits.

The Southwest
Large parts of the southwest, such as the South Valley, have been largely agricultural land that border on pueblo lands (Isleta) farther south. More recently, as is happening all across the city, the areas of the south west are seeing the gradual introduction of small residential developments, and long-time dwellers of the area are learning to cope with these and accompanying commercial infrastructure, anchored by “big boxes.”

Quality of life
The attraction of the city lies in its charm, its people, the high desert climate, an inspirational landscape and the quality of life it allows. Biking, running, and hiking trails and paths along the Rio Grande and through the Sandia Mountains encourage outdoor activities and attract sports enthusiasts from around the world. You can step out your door and walk straight up into the mountains, or you can leave your downtown office and in less than half an hour, be on the cable car for a fifteen minute ride to the top of Sandia Peak for an afternoon of skiing, then return to an evening on the town in the city without concerns about snow or inclement weather. Golf courses are well maintained and accessible to all.

The west side offers gorgeous views of peachy-red dawns, a flourishing bosque fringing the river, and Sandia Mountain views as opposed to the nearby, in-your-face foothill views of the northeast. Few sights are more glorious than the Westside view of the sun rising behind the Sandia Mountains.

City Attractions
Throughout Albuquerque, great restaurants abound. Food has been inexpensive and people eat out a lot. In-town venues like the historic Kimo, the Hispanic Cultural Center, the Pueblo Cultural Center, the University of New Mexico, and museums and galleries offer a rich cultural feast of theatrical and musical performances, art and craft shows, and exhibitions. Nineteen pueblos offer shows, feast-day celebrations, casino entertainment and gaming throughout the year. The annual, two-week-long balloon fiesta is of international proportions, http://www.balloonfiesta.com/.

Surrounding Areas
If these attractions turned out to be insufficient, Albuquerque, at the center of Bernalillo County in the middle of the state, is easily accessible to a wide variety of attractions in surrounding cities and counties. Jemez, Santa Fe (the capital city), Taos, Angel Fire, Chaco Canyon, Acoma, Bosque del Apache, and White Sands, are only a few of the beautiful places with marvelous attractions only a day trip or less away from the city.

Reasons to Live in Duke City
Duke City, our favorite name for Albuquerque, named for the Duke of Albuquerque, is a special place. If you get the chance to visit, you should. At least fifty percent of the people who live here say it was love at first sight. They came to visit and stayed or returned to live. The charms of the area are no longer a well-kept secret. They have been discovered and publicized. The city is the recipient of many accolades. Among other things, it is the best place to raise a family, start a new business, work, and play. It is a top-ranked southwestern city. Visit Albuquerque. You, too, will want to stay and we will welcome you. The city is a great introduction to the state of New Mexico, the Land of Enchantment.

New Mexico Celebrates the Inauguration of Barack Obama

2009-01-18T19:20:00.001-07:00

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New Mexico joins the rest of the nation and the world in celebrating the inauguration of Barack Obama as the 44th President of the United States of America.

The inauguration represents the true coming of age of the nation founded by a people who set out on a pilgrimage to find freedom and enshrined in their Declaration of Independence their desire to found a nation where all men (and women) were created equal with inalienable right to life, liberty and the pursuit of happiness.

Our nation, after pursuing that dream for over 230-years, is seeing its fulfillment. The inauguration of Senator Obama cements the place of the United States of America in history and in the world as a beacon of democracy and a model for every nation to follow. People are not judged by the color of their skin but by the content of their character. (Dr. King)

The inauguration of Barack Obama as the 44th President of the United States of America represents the establishment of a new order and way of life that ushers in a better, brighter and more just tomorrow. It represents the true dawning of an age of enlightenment not just for the United States of America but the whole world.

Eloise Gift

Albuquerque, NM Market Update

2009-01-10T15:28:00.001-07:00

Technorati Tags: Albuquerque,market report,market update,New Mexico housing,Albuquerque home sales

Eloise Gift

At this time last year, the predictions for our real estate market in Albuquerque, NM was that we would be saying good-bye to the downward shift in 2009. In November, only two months ago, Albuquerque was on Forbes Magazine top ten list of cities poised for early recovery from the slump. A look at our end of year, December statistics do not, at first sight, reveal an imminent recovery. The prices of houses in the Greater Albuquerque area have not made a dramatic nosedive, neither have they improved. Rather, they continue to decline. The average price of a home in the Greater Albuquerque area is now $218,633 and the median is $179,900.

Sales volume also, declined. December sales were 104 fewer than in December 2007 and almost one half of our December 2005 high of 900 sales. See Albuquerque New Mexico Home Prices. Nevertheless, resale listings also declined. So our inventory, although still comparatively high, has decreased. The December 2008 inventory of 5,222 homes, twice as high as that of December 2005, was actually lower than the inventor of December 2007. A glimmer of hope? Perhaps!

Also another glimmer of hope in the December, Albuquerque market statistics was the decline in the number of days it took to sell a house --5% fewer days than just one month before in November.

The combination of a gradual price decline, lower interest rates, fewer new housing starts resulting from a drastic reduction in the number of building permits, job retention and a strong injection of new jobs could be the stimulus for the predicted rebound for 2009-2010.

Last Free Rides to Santa Fe

2009-01-03T19:25:00.000-07:00

This is the last weekend of free rides on the newly completed section of the rail runner that now goes from Belen to Santa Fe. As happened at the opening of the first leg from Belen to Albuquerque, the Albuquerque to Santa Fe section that opened just in time for the holiday season offered free rides.

An overwhelming number of folk turned out to take take advantage of the free rides. Based on newspaper accounts, many were disappointed with the overcrowding of the cars and others for not being able to ride at all. It is left to be seen if the popularity of the trains will remain as high following the last free rides this weekend. Will regular commuters between Albuquerque and Santa Fe start leaving their cars at home? Personally, I plan to go for a ride as soon as the crowds abate.

Albuquerque New Mexico Holiday Traditions

2008-12-24T02:01:00.001-07:00

HolidayTraditions - The Christmas holidays in Albuquerque, New Mexico are, like most other places, a time to share traditions by getting together with family and friends, exchanging gifts, and having festive meals together. In New Mexico, however a rich cultural blend of native and newer traditions add enchantment that makes a difference. The traditions of 19 native pueblos combined with enriching ideas from a constant stream of newer residents from across the nation and the world create varied and interesting holiday experiences.

Feast Days in the pueblos. Whenever I visit a pueblo, people invite me to return to celebrate Christmas or New Year's Eve with them because each pueblo has pride in its unique traditions that include lights or bonfires. If the weather should permit, this is the year I will make it to one.

Las Posadas, probably date back to the arrival of the first Spanish settlers and are still celebrated in pockets in cities across the state. They offer another opportunity to participate in a uniquely New Mexican Christmas tradition. Whether your are Christian or not, on Christmas Eve you can join the party re-enacting the Christmas story and accompany Mary and Joseph as they go from house to house seeking a shelter, or you may choose to go to church as Christians all over the world will do.

Also on Christmas Eve, you can drive through city neighborhoods to enjoy the display of lights. Many, giving the landscape the distinctive southwestern appearance, are the farolitas or luminarias that outline sidewalks, driveways, and rooftops. Many are still hand-made: assembled with paper bags, sand, and candles. Others are modernised, electrically strung. In some communities like Nob Hill and Old Town, Albuquerque's oldest neighborhoods, streets are closed to motorized traffic to allow leisurely strolls for the enjoyment the lights. And all this is separate and apart from the River of Lights extravaganza held throughout the season at the Botanic Gardens.

On Christmas Day, the pleasures of a rich cultural heritage continue in the interesting flavors of traditional and other foods that grace the holiday dinner table. Whatever else you may have, be prepared for New Mexico red or green chile flavor in dishes like posole and tamales. At the Christmas table, it is a good place to start preparing to answer the most frequently asked question in New Mexico's restaurants: red or green?

Happy Holidays from the Land of Enchantment!

Eloise Gift
Gift Realty NM

Albuquerque Events

2008-12-19T20:24:00.000-07:00

Did you know?

In Albuquerque, New Mexico we have a river of lights?
The river of light flows every year from November 29 through December 30 (except on Dec. 24 and Dec. 25) at the Rio Grande Botanic Gardens. The River of Lights is a scintillating walk-through display of thousands of artfully designed twinkling lights. You may view the River of Lights, evenings from 6:00 pm to 9:00 pm. Entrance is $7:00 for adults and $3:00 for children. Some evenings offer additional attractions like ice skating or live entertainment. The River of Lights while a pleasant outing for all, is particularly attractive to kids. Dress warmly.

During the holiday season, the night landscape of the desert is particularly enchanting with its myriad of decorative lights.

Time With my Little - A weeked Off?

2008-12-15T23:38:00.000-07:00

Vicky ended up spending almost the whole weekend with me. Vicky is my almost-ten-year-old little sister. She is my match from Big Brothers and Big Sisters (BBBS).

Her mom gave permission for her to spend as much time as she wanted, with me, so she went home with me after her party. She walked into the house, took one look around my office and declared, I can see you have a lot to do. We were and still are in the middle of preparing my holiday mailing that needs go out in time for the holidays.

Yet, I needed to spend some time with Vicky. We have an arrangement to spend an hour per week together. We often don't get to do sequential weeks, but if we averaged out the time it would perhaps turn out to be more than an hour per week. As often happens, planned, two-hour events expand into day-long visits and even sleepovers taking us into the other day.

This weekend, we went to Vicky's party just after mid day. Next we went to my party with my service club and that was a perfect lead into a sleepover. It was getting late. Next day being Sunday, it seemed natural we should go to church in the morning. Work took a back seat. It is no wonder I am now behind in getting my mailing done. But it's all right. I did need a weekend off!

I didn't get to take pictures. Somehow I left both my camera and my phone behind. But Vicki had a new toy, one of the tiniest cameras I ever saw, and she took lots of pictures. Sadly, we did not have the appropriate software on my computer to download them. I'll just have to use a picture from last month's picnic.

Life can be busy in Albuquerque! That's the truth.

Market Update– Albuquerque Westside Paradise Hills Civic Association Area (PHCA)

2008-12-12T18:39:00.001-07:00

Overview ─ The real estate market trend in the PHCA area continues to reflect positively that of the rest of Greater Albuquerque. The Greater Albuquerque market is less adversely affected than that of most others regions across the country and was reported by Forbes Magazine to be among the country’s top ten most promising markets. The PHCA is a part of the larger Westside neighborhood of Paradise Hills, and during the last quarter, was one of the highest selling neighborhoods in all of Albuquerque. (Greater Albuquerque Association of Realtors report)

Current Market Activity ─ Since July, 83 homes were sold in the PHCA area. Currently, 13 homes are under contract, awaiting closing and 118 homes are for sale, awaiting offers.

Of the 83 homes sold, 9 were 2-bedrooms, 46 were 3-bedrooms, 27 were 4-bedrooms and 1had 5+ bedrooms. The average square footage for these homes was 2047 and the average price; $226,065. In October (the latest month for which official statics are available) the average price of homes throughout the Greater Albuquerque area was $220,000.

Of the 13 homes under contract (pending) the average square footage is 1761, the average time on the market, 75 days, and the average listing price, $195,377.

The homes for sale - awaiting buyers - include 11 with 2 bedrooms, 61 with 3 bedrooms, 44 with 4 bedrooms and 2 with 5 or more bedrooms. The average price of these homes is $272, 902 and they have been on the market for an average of 90 days. They range in size from an average of 1215 square feet for the 2-bedroom group to 2210 square feet for the 5+ bedroom group.

Conclusion ─ As we approach the holiday season, the sentiments of Charles Dickens in A Christmas Carol seem appropriate for our market. We are likely to look back on this period thinking, it was the best of times; it was the worst of times. Best, because of the large inventory and historically low interest rates. On the other hand, worst, because our economy is in a historically low period with job losses, failed financial institutions, and economic uncertainty. The lending institutions that remain afloat have tightened qualifying requirements and it is more challenging to obtain loans.

Having said all this, Paradise Hills is a comparatively high-selling neighborhood (GAAR report) in one of the top-ten cities for recovery in the nation. (Forbes Magazine)In buying or selling a house in the neighborhood, we need to recognize that difficult times call difficult decisions that may include adjusting expectations and being creative in marketing, making offers, and accepting offers.

The Paradise Hills Civic Association area is defined by Paseo del Norte to the south, Coors Boulevard to the southeast, Calabacillas Arroyo to the north, and the AMAFCA Las Ventanas Dam to the west. The area is a part of the larger Multiple Listing Service (MLS) area of Paradise Hills East.
Eloise Gift

Positive Events _Celebrating the Present, Honoring the Past, Ensuring the Future

2008-12-11T23:42:00.000-07:00

I participated in four back-to-back, wonderfully positive events over the course of two days - positive for our economy and for the quality of life in our city. The first event was the significant ribbon-cutting event cutting for the opening of Fidelity Investments workspace at Mesa del Sol, the master-planned community that promises o be the city's poster child for green. Fidelityarrived in Albuquerque less than 1 year ago with a promise of creation jobs just at the time when fear of job losses began to creep across the country. The firm has been occupying temporary quarters while awaiting the completion of its building at Mesa del Sol. Completed in record time, all the company has to do now is move into its new space and and complete its hiring of the 300 workers they anticipated they would need.

Then the Greater Albuquerque Chamber of Commerce organized a luncheon to celebrate the Rodey Law Firm's 125th birthday. The speeches and reminiscences were inspirational. One speaker reflected on the possibilities of a combination of vision and values to contribute to the success and sustainability of institutions like the Rodey Law Firm, and I couldn't help thinking that Albuquerque, recently identified as an ideal place to work and raise a family, has enjoyed that status for much longer. Law firm founder, Rodey recognized that quality 125 years ago ever since he set up practice in Albuquerque.

The luncheon followed an early morning tour of the best water treatment facility in the whole nation. Four hundred fourth graders visited last year to see a room-size diorama that shows the course of the water we use, from its source at the continental divide to its delivery into our homes. The tour made me a believer out of me. I left the water treatment facility convinced I will no longer need bottled water. Expert and dedicated workers are hard at work every day at the facility, overseeing and treating the water supply to ensure its purity and safety.

At the end of the day, I had the opportunity to attend the celebration of the completion of the refurbishing of areas of Cibola, the first high school built on the Westside of Albuquerque. The makeover with a state-of-the-art, green, energy- efficient cafeteria and other spaces was impressive. Community leaders, legislators, and administrators reiterated their commitment to preserving the institution, and student musicians and dancers performed surrounded by student art in the new open space provided by the enovation.

If we are able to create jobs, we take care of today's needs. As we continue to protect our environment and non-renewable resources and prepare our children to love responsible and consequential lives, we take care of the future.

Open Houses in Albuquerque NM November 29 - 30, 2008

2008-11-28T23:43:00.000-07:00

Because of the mild, high desert climate of Albuquerque, we can expect pleasant, sunny days even in mid winter. Consequently, every season is a good season for buying and selling real estate. In Albuquerque, the real estate business is perennial.

I plan to hold two house open this weekend and I will take appointments for showing two others. The range in prices reflects the diversity of the inventory available.

If the sun shines, as it is expected to, it should be a delightful day to show houses. To encourage you to attend, I made a video tour for you.

Happy Thanksgiving!

2008-11-27T14:10:00.000-07:00

Wishing all a Happy Thanksgiving in the words of a famous American . . .

God, give us thankful hearts in this season of Thanksgiving. May we be thankful for health and strength, for sun and rain, and peace. Let us to seize the day, and opportunity to 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. Du Bois, as quoted in A Grateful Heart, M. J. Ryan (Editor)

(With special thanks to my friend, Joyce C.)

Across Four Septembers of Real Estate –Albuquerque, NM 2005 – 2008

2008-10-22T00:30:00.000-07:00

From September 2005 through September 2008, like every other region in the country, the real estate market in the Greater Albuquerque area continues to favor buyers with an increased inventory of homes for sale. For the better part of the past year that inventory has remained at over 6,000. Buyers, take note of the large number of listings and the historically low interest rates!

The cataclysmic global financial events of the past few weeks actually helped trigger lower interest rates as an additional bonus to buyers. As the saying goes, it’s an ill wind that blows nobody no good. We don’t know how long rates will remain low. Should they go up again soon, who knows how long it may be before they should fall again. Sellers, too, take note that there might be an opportunity here for you also. Prices, you will observe, have not fallen dramatically.

Reviewing the numbers for the past three-years helps buyers and sellers develop perspective. In September 2005, the Greater Albuquerque area had 1,500 new listings enter the market; September 2006: 2,157, and September 2007: 2,127. In September 2008, 1,502 new listings were added. We have come almost full circle since 2005. Could this mean that we are getting poised for recovery?

But what were sales like in the Greater Albuquerque area during September 2005 to September 2008? September 2005, 2,143 homes were active on the market; September 2006: 4,332; September 2007: 6,151 and September 2008: 6,181. Although new listings declined during the three-year period, inventory climbed as sales also dipped. In September 2005 the area had 1,187 sales; September 2006: 990; September 2007: 716, and the September 2008 recorded sales the lowest for the period over three years: 604. The average number of days on the market for each property increased gradually from 29 days (just under 1 month) in 2005 to 74 in September 2008 ─ from 6.49 absorption rate to in September 2005, to 9.25 September 2008.

September 2008 has the largest inventory of homes for sale for the same period since September 2005. Yet, both median and average home prices have increased, and although lower than their peak period in mid 2007, are both higher in September 2008 than they were in September 2005 at average price: $222,947 and median price $186, 750. Most homes sold are in the $240,000 - $249,000 price range followed by those in the $160,000-$179,000 price range. Forbes Magazine has ranked Albuquerque as the #1 city for real estate appreciation by 2010.

Good-bye Balloon Fiesta - Hello Parade of Homes

2008-10-16T05:32:00.002-07:00

ABQ International Balloon Fiesta 2008

The International Balloon Fiesta and the Homes of Enchantment Parade always overlap. People from far and near in the world arrive in Albuquerque in October each year, not only to participate in balloon fiesta but also to see the work of world-class builders. We are thrilled that they do and don't mind if they buy a house or two while here. Actually, we are delighted if they decide to do so. We who live here know the the real name for New Mexico is not Land of Enchantment, but "Land of Entrapment." It is difficult not to fall in love with our landscape, our climate, our culture and last but not least, the friendliness of the people who call New Mexico home.

So it's a great idea to have the two events overlap. The challenge for me is to find the time to go to the fiesta with my friends, accompany them on home tours, visit Santa Fe, Taos, Angel Fire, Chimayo and all the other fascinating places including the pueblos. Father Time makes it hard unless my friends can stay for a couple of months following the fiesta and the parade of homes. Otherwise, alas, we have to make choices! We have to forgo some must-see and must-do events and hope to fill in the gaps next time. There is always next year. Be sure to come again. I'll be expecting you.
Eloise Gift
Albuquerque Realtor
Gift Realty NM

Kindergarten Balloon Treat

2008-10-16T04:58:00.000-07:00

The International Balloon Fiesta 2008 has ended in Albuquerque, New Mexico, but the memory will remain special for many for a long time. I imagine that among the many will be kindergarten students at Bel-Air Elementary School. One Wednesday morning, during the fiesta, they watched a balloon land on their playground and got to go out and get a close-up view.

The 2009 kindergartners may hope to have the same treat next year during the 2009 Balloon Fiesta, October 3 -11.

The Crowds Came - NM State Fair Ends with a Bang

2008-09-21T09:40:00.000-07:00

The second last evening of the NM State Fair, Saturday, September 20, was a resounding success. The crowds came and the cat came back. (See pictures.)From Main Street to the midway was what one expected a state fair to be-elbow to elbow people strolling, gawking, eating; waiting in lines to get on rides. The workers hawking their games and wares were busy and looking much happier and livelier than on previous days.

I sensed it would be different when a sign to the approach to my preferred parking lot said, Lot Full. With a sinking feeling that I would not be able to keep my promise to take my little sister to the fair, I sat in the traffic line while it slowly snaked its way down Louisiana NE to Central Avenue NE with the hope that we would be able to find an open parking lot. My little sister was antsy in the backseat. She had already planned her rides . We got in!

And did we have fun! We went on rides, tried the bumber cars, played games at which we won nothing, visited the animals at Old McDonald's Farm, looked at rattlesnakes from a safe distance and viewed lovely art work at the Hispanic Art center. My little sister got to walk under the bridge the leg of the stilt-walkers made and she shook hands with Smokey Bear. Of course we remembered to eat. Dinner was corn dogs, turkey leg, lemonade, and ice cream. We enjoyed the evening.

Another Afternoon at the New Mexico State Fair

2008-09-20T09:37:00.000-07:00

The NM State Fair is almost over. These events are from Friday, September 19 and it closes September 21. I had a 12:30 PM luncheon appointment at the downs as guest of a business affiliate. It was another first for me since it was one section of the fairgrounds I had not visited. Had I stayed, I would have been had perfect views of all the races that were scheduled to start at 3:00 PM. But I couldn’t. I had 2:30 appointment with “guests” at the Albuquerque Reads Read-to-me table. So, as agreed, I made my way over to the Read-to-Me corner for my second volunteer assignment at the fair.

As I wrote about my first assignment, traffic was light. For this visit, we are in area four, moved from area six. I like the new location better. We are out from under the tent and are out in the open closer to other children’s activities. The tiny tot traffic is heavier and my partner and I get to read to several kids and their parents.

The time passed quickly. For the first hour, children’s book author, Kersten Hamilton, joined us to sign and distribute her newest book, The butterfly Book. John Larrañaga, FirstBook volunteer from the University of New Mexico handed out books and took turns reading. (He is the other cat in the hat.)

It was another perfect Albuquerque, New Mexico afternoon and one that begged for us to be outdoors. A very slight sprinkle only served to exaggerate the pleasant feel of autumn in the air and was not enough to put a damper on our activities. It was fun to be back at the fair. But once again, I just wished more of us there for the fun.

A food convention in Albuquerque,NM

2008-09-17T22:13:00.000-07:00

A picture is worth a thousand words and I would love to show you a picture of a section of the Albuquerque, New Mexico Convention Center that was devoted entirely to a food exhibition, but I fleft my camera in my car, not realising now interesting a show I was going to see. But we can pretend these dishes represent the reality of what I saw.

I went to the food exhibition to help recruit volunteers for my pet literacy program and ended up gaining insight into a world that was altogether unfamiliar- the food industry. A food show is precisely tghat, a show about food- its production, preparation, distribution.

I walked into the convention hall looking for my booth and realised that on the entire floor of the center, vendors were preparing and offering samples of every imaginable food group. Iwas curious; so after finding my booth I and arranged for some time off to explore the stalls around the convention floor.

After samples and conversations with five to six vendors I began to understand that food growers, producers and manufacturers no longer sell directly to restaurants and supermarkets. They deliver them to a distributor who repackages and distributes on a very large scale. I discovered a world of producers, retailers, manufacturers, wholesalers, and brokers --a veritable army of people who manage food before it gets to our tables?

I spoke with a producer whose company has 4,000,000 chickens and has eggs distributed as far as Japan. I joined a group of people who were sampling a tropical fruit I had not seen since my childhood and that they were seeing and tasting for the first time. On my way to signing up volunteers for literacy, I discovered a whole new world. From now on, when I see those eighteen wheelers barrelling down the highway, I will have a better idea of the mission of some of them.
Albuquerque, now a distribution center will see the truck roll in and roll out and we will likely have more food conventions.

Financial Institutions Collapse

2008-09-15T17:41:00.001-07:00

What ails us?

It's the economy!

Lehman Brothers Merril Lynch FreddieMac FannieMae AIG

What can we do about it?

Relying on Bank of America is not the answer.

What CAN we do about it?

We don't know where to turn.
-Eloise

Governor Bill Richardson Lowers State Fair Prices

2008-09-13T09:56:00.000-07:00

If Governor Bill Richardson can help it, more people will be having fun at the state fair from today through September 21 when it closes. He must have experienced or heard of the low attendance that I observed in my previous article. He ordered managers at the fair to drop admission and midway prices effective today. Admission prices have been reduced by $1.00 and weekend all-day ride prices by $10.00. In addition, Tuesday, Wednesday and Thursday admission prices will be two for one, for adults, senior citizens and children.

I hope the price reductions will be effective in getting more people to the fairgrounds not only because the fair is fun, but also because the livelihood of many people depends on its success. I find myself thinking about the mother who accompanied her son to our Read-to-Me booth. She was at the fair because in her business, she travels ten months of the year with the fair. I would like her to leave Albuquerque pleased with her business success while here.

I hope those who want to attend the fair will will be encouraged by the lower prices. On Friday when I return, I hope to have elbow room only as I walk down the mid way and I won't mind standing in line for my lemonade or turkey leg.

The fairgrounds are in the middle of the city of Albuquerque at 300 San Pedro Avenue. They are just south of Uptown. Exits on San Mateo and Louisiana from I-25 will take you to one of several entrances on Lousiana, Central and San Pedro.

New Mexico State Fair 2008 - Albuquerque

2008-09-09T09:59:00.001-07:00

The annual New Mexico State Fair opened Friday, September 5 with parades and anticipated perfect weather and will continue through Friday September 19. I paid my first visit yesterday, Monday September 8, for the first time as a State Fair worker, so to speak. I knew I was a worker when I got to park in a spot marked Entertainer. I was at the fair as a volunteer a reader for the Albuquerque Reads kindergarten literacy program that is a joint partnership between the Albuquerque Public Schools and the Greater Albuquerque Chamber of Commerce. Imagine a booth for reading to children at a State Fair! Obviously New Mexico takes reading and literacy seriously, missing no opportunity to bring children and books together. The Albuquerque Reads tag line is: We’ll all be better off when Albuquerque Reads.

We were told that the booth was mobbed during the morning hours. In the afternoon, however, we had s visitors but not as many as we would have liked. I blamed attendance on competing attractions, as there always are at a fair. This morning I discovered another likely reason in the morning news. Attendance at the fair is down 14% this year. I wonder why? Are fairs or other events in your area seeing fewer attendees?

I have one other reading session scheduled next week. Nevertheless, I think I will go back to the fair this evening as a visitor, not as an entertainer. I returning today because I like going to the fair and I want to help improve attendance. I will drop by the Read-to-me-booth to see how they are doing and I might even get to see our horsey visitor again.

Eloise Gift

http://www.eloisegift.com/

Continuous Change

2008-09-06T06:53:00.001-07:00

I am amazed at the daily and constant changes that the Web undergoes. There is no settling down and getting cozy with procedures or processes and I think I understand why. It is amazing the number of people who think that the highest and best use of the Internet is to see how many people, businesses and institutions they can, defraud and disrupt. The result is that a development that is supposed to, enhance and improve the quality of our lives is turned into n instrument of bother and fear for some and a nightmare others.

Consequently, the interventions needed to keep our computers and Internet use safe seem only to create an obstacle course to trouble-free use. A tool that was supposed to make our lives easier, save time, provide entertainment, improve business procedures for everyone, seems now geared to use by only techies. I wonder how many people are being turned off by the frustrations of computer use. Computer users are terrified of opening email and terrified of surfing the web. They were used to sharing their pictures with loved ones, now they don't know where their pictures will end up or if they will be a path leading the bad guys to their hard drive. Do I sound paranoid? Maybe I am. My frustrations are real.
Eloise Gift
http://www.eloisegift.com/
http://eloisegift.yourkwagent.com/

Paradise Hills - A Premier Albuquerque Westside Community

2008-09-03T15:37:00.000-07:00

Looking for a Westside Albuquerque, New Mexico community in which to settle? Paradise Hills offers delightful spaces in Paradise East and Paradise West. Paradise West is virtually all new with ongoing construction in some areas. Paradise East includes vintage Paradise Hills (built about 40 years ago ) with mature gardens, each on .25 or more acre in the County of Bernalillo. It is a community that was developed around a golf course and apart from Executive Estates on the south side of Paradise Hills Boulevard, was for the better part of the last forty years, an almost isolated Albuquerque community. Now, new communities extend in every direction around the golf course to fill out the original boundaries from the AMAFCA Las Ventanas Dam to the Calabacillas Arroyo, Paseo del Norte and Coors Boulevard.

The golf course, in its latest reincarnation as Desert Greens, continues to provide recreation and an oasis of green open space as additional attractions of the area. Other attractions, apart from a variety of comfortable homes (older and newer) include expanding shopping and recreational resources. The Cottonwood Mall one of Albuquerque's four upscale malls is on the edge of Paradise Hills. Apart from its own shops and restaurants, and movie theatres, the mall serves as a hub for a widening circle of restaurants and other businesses.

Paradise Hills borders the Petroglyph National Monument with accessible trails to explore paths and the mystery of the glyphs carved on ancient rocks. Paradise Hills is also an area the offers magnificent views of Northeast Albuquerque, the Sandia, Manzano, and even the Sangre de Cristo and Jemez Mountains as well as the sleeping sisters (extinct volcanic cones) on the edge of the western high mesa. Depending on where your home is located in Paradise Hills, you may even have the equivalent of a ringside seat for the International Balloon Fiesta each year.
Homes in Paradise Hills range in price from the low hundreds to under $1,000,000. They include town homes and single family detached homes.

http://www.eloisegift.com/

The Trails - A Developing Westside Neighborhood

2008-09-01T20:12:00.000-07:00

The Trails, still being developed, is a premier Albuquerque Westside neighborhoods on the northwestern rim of the high mesa. It is bordered on the north by Paseo del Norte, on the south and west by Woodmont Avenue and by Universe Boulevard on the east. It is a master-planned commnity of single and two story homes of varying sizes. and as the name suggests, has a network of bike and walking trails. When completed, The Trails will have no fewer than eight parks, four of which I was able to identfy- a community park, a soccer park, a baseball park, and a dog park.

The new state of the art, green built Volcano Vista High School is in the community across the street from the middle school that is under construction. The site for a church as well as theose for for two retail /commercial sites have been are already identified along the northeastern and northwestern conrners of the development along Paseo del Norte.

North Valley Farmers Market Worthy of Slow Food Celebration

2008-09-01T00:20:00.000-07:00

The Los Ranchos de Albuquerque farmers market was on schedule yesterday as it is on Saturdays throughout the growing season. This last weekend in August, it happens to coincide with the California slow food celebrations. There was no hint the vendors and customers were aware of the California happenings but the market had a festive air.

There were young and old, men and women vendors and the home grown produce on sale was colorful and delicious looking. The craft on the stands were attractive and vendors and customers alike seemed to be having fun. I bought 'Placitas plums' from two young women of high school age; one a senior about to leave for college on the east coast and the other a sophomore. I couldn't resist the mounds of bread at the bakery stand and also ended up buying scones and tarts.

But Albuquerque being the town it is and farmers markets being farmers markets, my morning would not have been complete without meeting a friend or two.

North Valley Farmers Market Prosuce is Slow Food

2008-08-31T23:51:00.001-07:00

This weekend California is having a slow food celebration. I was not aware of it when I popped in at the Los Ranchos farmers market yesterday. What I found attest to the fertility of the Valley and could be classified as a slow food celebration in its own right. If vendors and customers were aware of the California celebration, however, they were not giving that away. There was no evidence of awareness that they were participating in a world food awareness celebration apart form the very luscious looking tomatoes squash, and other home-grown produce they had on sale. I bought some 'Placitas plums' from two young women, one of whom was a high school senior hoping to go to an east coast college her friend a junior.

The slow food society is international. If the farmers who grow crops throughout the Albuquerque North valley area are not yet members, I think they deserve to be, for all their effort and success in producing beautiful organic homegrown produce. Several farmers or growers markets (as many people like to say) are opened on Saturday or Sunday mornings throughout the valley during the growing period. (The Corrales market is on Saturdays.)

Balloons Over Albuquerque- Fiesta Draws Near

2008-08-17T09:08:00.003-07:00

Balloons are always floating over Albuquerque, especially on the Westside. I can rely on having at least one for company on my morning walks. The number afloat and their flight stage are usually an indicator of wheather or not I was early or late in getting started. It is rare that I see none at all, which happens when the weather is less than perfect. Usually, I count at least three. Ona rare day, I saw a lone flier and wondered if her were the only one to take a risk in less then optimal flying conditions. By 7:30, if any are aloft, they are already beginning to look for a landing site. At 6:30 they are just beginning to pop up above the skyline from their preferred take-off fields.

This morning, increased activity in an open field along my route, added another indicator--that the annual Internation Balloon Fiesta in Albuquerque is not far away. Today, my little mesa around which I walk, was ringed with balloons at various stages of flight. In an open space adjacent to my path, three were preparing at once for lift off. Further afield, others were also firing up, and some were already drifting away towards the river and the bosque

I expect to see the frequency and intensity of practice increase in the next few weeks leading up to the two-week-long fiesta that starts October 4. People will be coming from all over the world to or watch the shows. All eyes will turn towards the park just north west of the Sandia Montains twice-daily mass ascensions; morning and evening. I also know that as I write, designers are putting the finishing touches on creative special shapes that are among the highlights of the festival.

Sanchez Canyon a moderate hike near Albuquerque

2008-08-05T23:37:00.000-07:00

Last summer I drove with friends to Dome Trail then hiked to Sanchez Canyon. (The leader of our group gave me these directions to the Canyon).

To get to Sanchez Canyon, you travel north on Interstate 25 to exit 264. Next you travel along west along Highway 16 6o Highway 22. From High22, north go straight past the dam and follow the sign to the village of Cochiti Lake. Continue 2.8 miles north from the Lake Plaza shopping center to Forest Road 289 . Follow forest Road 289 north for about 3.4 miles the the parking area at the site of the abandoned Eagle Canyon pumice mines. (Don't try to negotiate Forest Road 289 in anything but a vehicle with a high clearance. It is a rough dirt track, not a smooth road. )

From the parking area, Dome Trail No. 118, head north into the Dome Wilderness area. After 1.5 miles, the trail crosses Sanchez Canyon and a small stream that plunges over a cliff in a tiny waterfall. From this point you may continue on Trail 118 as it ascends to a mesa where it branches, one fork heading east to Turkey Springs in Bandelier National Monument and the other heading north past Cerro Picacho to St. Peter's Dome.

I did not go beyond Sanchez Canyon. I left that trail for another day. The Dome Trail is only about tw hours from Albuquerque.

Eloise Gift

www.eloisegift.com

Albuquerque Real Estate Market Trends- Challenges

2008-05-27T22:49:00.001-07:00

During the past month, several transactions in some of our communities were adversely affected by higher loan-to-value ratio requirements imposed by lenders, presumably because of falling sales prices. The areas, labeled "declining," were identified by zip codes, and buyers were asked to come up with higher down payments for loans for mortgages.

Consequently, buyers who considered themselves qualified for loans had a reversal of their situation as lending policies changed overnight, in the middle of the escrow period, and they saw their dream of home ownership vanish. Buyers discovered they could get no better than a 90 percent loan because lenders were requiring a 5-percentage-point cushion to protect against possible continuing price declines.

Good News
But the situation has changed again. Beginning June 1, Fannie Mae and Freddie Mac, the two giants of the secondary mortgage market, will no longer require borrowers to provide an extra 5 percent down payment when purchasing homes in those areas labeled "declining markets" because of falling prices.

With the new policy, borrowers can again borrow at a 95 percent loan-to-value ratio. This is particularly good news for first-time buyers who usually are unable to come up with extra cash at a moment's notice. In general, it is good news for all buyers and sellers, especially those living in the targeted neighborhoods. In addition, it is good news for the real estate industry and the economy of the greater Albuquerque region. With the stigma removed, we expect to see all neighborhoods thrive and fewer people denied their dream of home ownership.

Eloise Gift, Associate Broker
Keller Williams Realty
6240 Riverside Plaza Lane, Suite 100
Albuquerque, NM

www.EloiseGift.com

http://www.activerain.com/giftrealty

Your Gift for real estate ~ A Gift for all seasons
HABLO ESPANOL

New Mexico Real Estate Market Report

2008-05-25T11:28:00.001-07:00

Albuquerque, New Mexico Homes for Sale

On this Memorial Day weekend, 2008, the Greater Albuquerque Association of Realtors Multiple Listing Service reports 7083 residential properties for sale, 6, 337 parcels of land, 125 commercial properties, and 118 available residential rental properties.

The inventory of homes for sale in the area is significantly greater than it was at the same time last year despite a cutback in the building of new homes and falling prices. (The average price in April was $227, 281 compared to $243,o23 in April 2007.)

Why, then , the large inventory?

I know several people who want to buy. The price is right and the interest rates are still historically low but they can't. After a contingency offer of almost a year, one of my buyers withdrew her offer. Why? She could not find a buyer for her home. That takes care of the the buyer who wants to move up.

I know of one seller who received four offers, all of which he accepted,. Ultimately, his house is still on the market after nearly one year because on each occasion, the buyers could not get a loan. Interest rates are still at historically low rates. However, lenders are imposing stricter requirements and seem to be changing their rules from day to day. Buyers who are told they qualify discover a week later, that they no longer do. (This is particularly true for first-time buyers.)

There is also another reason for the increasing high inventory. Some buyers, faced with so many homes to choose from, find it difficult to make a choice. Others, feel that if they wait a bit longer they will be able to buy at an even lower price.

What to do?
If you are in the market for a house, are able to qualify for a loan, by all means buy. It is always a perfect time to buy or not a perfect time. The people who waited for prices to fall now have falling prices but also greater difficulty in obtaining a loan and may not be able to take advantage of the lower prices. A year ago, they would have paid more, but more than likely would have qualified for a loan.

Questions
How long will interest rates remain low?
How long will supply of homes for sale exceed demand?
Will lending strategies become more or less favorable to buyers?
What may change in the overall economy to favorably affect the housing market and when?

Conclusion
It may be true after all, that there is no time like the present.

Eloise Gift , GRI, E-Pro, Certified EcoBroker
Keller Williams Realty
Albuquerque, NM
http://www.eloisegift.com/
http://activerain.com/blogs/giftrealty

Trulia Breaks New Ground on the Internet

2008-05-22T21:02:00.001-07:00

Technorati Tags: Trulia,marketing listings,Internet

I heard from Trulia yesterday. They informed me that I may now add my voice to the marketing of my listings on their website. It is a big change. Now the listing appears under my brokerage, with my name and contact information and that makes me feel as if I am representing the owner of the property whose permission I had to obtain to market it in the first place.

I no longer feel as if my listings were hijacked. Thank you Trulia! I now feel as if we are in a win-win partnership. I hope other owners of web sites who place the properties of brokers anonymously market our listings as if theirs will follow your example to respect the ownership of the information and give brokers the opportunity to claim that ownership. New Mexico Homes for Sale. My Profile on Active Rain

Eloise Gift, Realtor
Your Gift for Real Estate ~ A Gift For All Seasons

Albuquerque Celebrates Sustainability Week

2008-05-19T23:43:00.000-07:00

From Taos and Santa Fe through Albuquerque, Tijeras and Edgewood in the East Mountains, to Los Lunas in the south, the United States Green Building Council New Mexico (USGBCNM) chapter, observed Sustainability Week with lectures, workshops, and tours of gardens and green buildings—commercial and residential. The self-guided residential tour was educational and served to show that green and sustainable concepts encompass more than buildings.

Although not obvious to the uninitiated, the twenty homes at various stages of completion on the residential tour, provided tour participants with close-up views of sustainable (green) techniques and products during the construction phase and in completed projects. Some projects were renovations that converted conventional and often distressed properties to green ones. Others were completely newly built green.

Renovated properties, some in historic neighborhoods, demonstrate the potential that exists to revitalize distressed neighborhoods with attractive, healthy housing at a lower than building new. At one property on the tour, an in-fill adobe renovation saved another historic adobe house from being bulldozed. In another in a so-called student ghetto, a 780 square foot home was gutted and completely rebuilt in an attractive, modern style.

But what makes these homes green, sustainable, ecologically sounder than other homes? Several factors were mentioned repeatedly in the tour guide and by the builders and designers.. These factors relate to the materials used, water conservation; health, and safety issues; energy conservation; and community impact. Specifically, builders made wide use of solar energy, recycled materials, highly rated energy efficient cooling, heating, and household appliances; energy efficient lighting. They reduced or eliminated the use of construction materials (paints, sealers, plasters, wood) with known noxious substances. Builders conserve water, through catchment, the use of low-flow toilets, special shower heads and faucets and the collection of gray water for gardening. In addition, builders emphasize efficient insulation, tight construction, and effective roofs, doors, and windows.

The tour program and guidebook detailed the green features of each home and explained some of the terms. But I concluded, the tour was geared toward professionals. Much of green vocabulary ENERGY STAR, low-e, LEED, HERS, VOC, SEER, CFL, PV are still not yet common currency, and will likely not be for some time until more people embrace the green concept.

But owners, builders, designers and their assistants did a fantastic job of explaining their projects. Bill Reynolds of New Haven Homes described his newly built 4, 674 square foot Frank Lloyd Wright inspired home in Corrales and in Albuquerque, Nancy Furbush explained the adobe renovation of the 9828 4th Street, NW adobe that preserved one historic home and saved another from being bulldozed. Some of these award-winning homes are benefited from tax incentives.

Since several of the homes on tour were for sale, it is appropriate to ask: what does a green house cost? The same factors that affect the price of conventional homes, do also affect the price of green homes: location, size, quality of construction, floor plan, desirability. But green buildings, despite the gradual lowering of initial building costs, are still more costly to build from scratch. An advantage of owning a green home, however, is that over the long haul, it saves its owners money. The houses I visited ranged from $288,500 for a 780 square foot renovation infill to just over $1,000,000 for a newly constructed 400+ square foot. contemporary.

Interested in going green? Call me.

Eloise Gift, GRI, e-PRO, EcoBroker certified
http://www.eloisegift.com/

China - A Country of Massive cities and Buildings

2008-04-05T13:57:00.000-07:00

On a recent trip to China - Beijing, Shanghai, Suzhou, Hangzhou - I was able to see why so many think the Chinese are responsible for the high cost and sometimes scarcity of building materials in our part of the world. Chinese buildings in their large cities Beijing (16 million) and Shanghai (18 million) and even in smaller cities, Suzhou (2 million) and Hangzhou (3 million) are massive.

There seems to be construction everywhere as the country races to beat the clock to complete new buildings to host the Olympics in August while undergoing urban renewal, and apparent infilling. Some high rises seem good candidates for implosion, not unlike those imploded for urban renewal of our own inner cities.

Based on my observations, between building for the Olympics, infilling, and urban renewal, construction in China should be continuing at a strong pace for the foreseeable future. I would not expect the Chinese demand for building materials to abate anytime soon.

As I travelled around the country I found an interesting mix of traditional and modern, old and new building designs; particularly in Beijing.

China is a fascinating countyry, and the people were much warmer and friendlier than I anticipated. If only I could speak Chinese as well as many of the people I met, speak English.

Of course, no trip to China could be complete without a visit to a tea plantation. I am told that every province thinks its teas are the best. I will have to go back to savor tea in other provinces to see how they compare with the tea we were served in Hangzhou.

Eloise Gift

www.eloisegift.com

Albuquerque, New Mexico Homes For Sale

2008-02-06T18:05:00.001-07:00

Currently, in Albuquerque, New Mexico has more than six thousand homes for sale, and these do not include the newly homes homes of the many developers in the area.

The opinion of many is that a large inventory of homes for sale signifies a bad real estate market. There are those of us who do not agree simply because we do not think of markets as bad or good. Different market conditions may seem to favor one group rather than another, but opportunities are always available for everyone.

Markets with smalller inventories may seem to favor sellers and markets with larger inventories, apparently favor the buyer. The way I see it? It is always a good time to buy and sell real estate.

Women of Color Face Dilemma of Choice

2008-02-04T08:43:00.000-07:00

For the first time in United States history, women of color have the chance to be part of a group of change agents to elect a president from one of the country’s two major disadvantaged groups - people of color and women; and naturally they feel conflicted. They are faced with an unprecedented dilemma of having to choose between two ideal candidates in elections to choose the Democratic Party candidate to run for the presidency.

Doubly disadvantaged, most of these women will quickly tell you that choosing a candidate is beyond race and gender, but in conversations about the suitability of either of the front-runner candidates, Barak Obama and Hillary Clinton, they invariably engage in circuitous conversations that always come back to touching on some aspect of one or the other attribute.

The behavior is understandable. To be elected president of the United States is the ultimate endorsement of a citizen’s capability. As a woman, having a woman president in the White House would signify for me, the full the dream I had since a kid, that I could be anything I wanted to be as a woman. As a person of color, having a president of color would signify the end of lip-service to equality for all people of color in the United States.

But choosing a candidate is beyond gender and color. And fortunately, both candidates force us as voters, to look beyond the surface, precisely because they are so capable, well qualified, and closely matched in their ability to convince us that they are suitable candidates to govern, lead the nation, and represent us with respectability at home and abroad. Besides, I like to think that what is essential is invisible to the eye.--Antoine de Saint Exupéry.

Fate seems cruel in giving us bothh of these two wonderfully viable candidates at the same moment in time in our history. I want both Hilary and Obama to win but can vote for only one. I am as conflicted as my sisters of color. If this primary election serves no other purpose, I hope it has shown that election to the presidency of the United States for a woman or a person of color is within the realm of possibility, and from now onward, make all conversations of gender or race irrelevant.
Eloise Gift
http://www.eloisegift.com/

New Mexico Economy Flying High - Bill's Back

2008-01-17T23:41:00.000-07:00

Tuesday, January 15 at the opening of the New Mexico 30-day legislative session at the state capitol in Santa Fe, Governor Bill Richardson announced, the end of his presidential quest and turned his focus fully on the business of New Mexico.

Since then we have had three significant announcements about infusion of money and jobs into the New Mexico economy. The German firm, Schott AG, announced its intention to build and open a solar equipment manufacturing plant at
Mesa del sol: (Good Economic News For Albuquerque New Mexico )in 2009; Eclipse Aviation got a boost with a new partnership, and the latest announcement Wednesday, that the International firm, Fidelity Investments, will also open an office at Mesa del Sol 2009, creating 1, 200 high-paying jobs.

Today, while the national evening news highlighted rumors of recession, the local news was all about new business opportunities and new jobs in New Mexico. News of the economy is somewhat like that of real estate. New Mexico real estate, while broadly reflecting the national trend, has to be more narrowly defined. It is ultimately local, reflecting the local economy and job market.

Eloise Gift http://www.eloisegift.com/
A Gift for real estate - A Gift for all seasons

Green Buildings Pay

2008-01-15T23:16:00.000-07:00

If incentives help, green buildings are likely to become commonplace in Albuquerque, New Mexico because green buildings pay.

Most people who live in green buildings speak of the energy savings from energy star appliances, low-e windows, tighter construction and the advantages of solar power. Many extol the comfort level and health benefits resulting from the use of well-chosen ,non polluting materials.

For New Mexico owners of green homes, 2007 brought additional advantages by way of savings. As part of its incentive to reduce carbon emissions and reduce global warming, the New Mexico State Legislature passed the Sustainable Building Tax credit Incentive to encourage the private sector to build green.

Everyone who buys or builds a green home is eligible for the tax savings, regardless of income levels. The tax credit is based on the qualified occupied square footage of the home, the sustainable building rating, and energy efficiency as verified by a third party.

Today, a green builder, Artistic Homes, http://www.artistichomes.com/ contacted me. They wanted to inform me, as an eco-broker, that they have taken up the state's challenge and are in the market to provide green homes to consumers. Based on the floor plan purchased, buyers may claim from $6, 525 to $10, 600 in tax credits over a seven year period.

Building green seems to be a good investment. People who build green and take advantage of the government's tax incentive will realise gains in more ways than one --through energy savings and deposits to their bank accounts. They will also have the added pleasure of knowing they are taking care of ttheir health and preserving the environment for future generations.

Green building pays, as others besides home owners and home builders know. The recent Smith's grocery store opened in Albuquerque Westside is a green building. The managers say the materials, construction and design and save thousands of dollars in maintenance and energy costs.

Schott Solar Plant A Shot in the Arm for New Mexico

2008-01-14T22:39:00.000-07:00

The Albuquerque, New Mexico economy received good news today. The first came from Eclipse Aviation http://www.eclipseaviation.com/ Albuquerque, New Mexico’s small airplane manufacturing plant that has had to defend itself from repeated negative unsubstantiated rumors these past few weeks. Eclipse, announced a $100 million equity investment by European Technology and Investment Research Center (ETIRC) Aviation and renewed their commitment to remain part of the Albuquerque community.

The second announcement of good news came from Governor Bill Richardson himself, fresh from his presidential campaign that SCHOTT AG will build a solar products manufacturing plant in Albuquerque, creating as many as 1,500 jobs at peak production in an eventual $500 million complex. A $100 million first phase investment will require 200,000 square feet and open with 350 employees in early 2009 at Mesa del Sol, http://www.mesadelsolnm.com/ south of the Albuquerque Sunport..

The Schott announcement is a timely shot in the arm of the New Mexico Economy which slowed somewhat in 2007. Through the plant, the state will receive an infusion of $500 million (the cost of the building) and 1,500 jobs when it is operating at its peak.

The announcement complements and supports the state’s commitment to providing clean, renewable, and alternative energy. It is in alignment with the state’s aggressive goals that by the year 2020, 20% of all energy consumed in New Mexico must be generated by renewable energy sources, of which 4% must be from solar power.

The announcement is validating for Mesa del Sol, the master planned community that promised to build a sustainable, energy-renewable community where people would work where they live. The plant will be built at Mesa del Sol.

The Schott announcement is immediately good news for residential and commercial real estate. On the commercial side, the company will construct a 200,000 square-foot facility that they hope to expand to 800,000 square ft in the near future. On the residential side, up to 1,500 employed workers will have the resources to achieve the American dream of owning homes to live in or to invest.

Eloise Gift http://www.newmexicohomesbyeloise.com A Gift for real estate - A Gift for all seasons

The Greening of Albuquerque - Tell the Truth

2008-01-13T23:03:00.000-07:00

I have proudly written several articles extolling the efforts and achievements of the city of Albuquerque to reduce the release of greenhouse gasses into the atmosphere.

According to the news in today's Albuquerque Journal, the city has indeed been taking steps to reduce carbon emissions but it has exaggerated its successes.

It is a pity that the city should see it fit to be less than candid about its success in greening the city when its efforts are so far reaching. Cleaning up the environment is a daunting task that no one expects overnight success.

I, therefore will continue to be a cheerleader for the city and the mayor for taking action and not fiddling while the city burns so I give the city authorities an A for effort and a D for veracity with respect to the greening of Albuquerque. I hope the mayor and his team will review the goals they set for sustainability and renew their efforts to reach them.

Albuquerque received accolades for being a safe city in which to work, live, and raise a family. Continuing to work toward sustainability will help us keep our air and water clean and preserve our clear blue skies for generations to come.

History of Rio Rancho -City of Vision

2008-01-13T01:55:00.000-07:00

Today I listened to an abbreviated history of http://www.cabq.gov/aes/s2rr.html. In brief, he said that Rio Rancho, the fastest growing city in the state of New Mexico was started by a group of con artists who sold parcels of vacant, undeveloped land to unsuspecting people in far away cities (mainly New York) who had no idea they were buying real estate in the City of Vision.

From the sale of those parcels and the construction of the first homes in 1962, building began in earnest in the seventies and has never stopped. From a city of about 100 in the 60’s Rio Rancho has grown to be a city of some 70,000 to 80,000 people. It is expected to become a competitor in size with Albuquerque if it continues to grow at the same pace. From vast, undeveloped spaces Rio Rancho is being rapidly transformed into a vibrant city of thousands, City of Rio Rancho - Official Site.

One consequence of growth is the relocation of the city center several miles north. A bright new City Hall now has as its only neighbor, the Santa Ana Star Center. The vibrant, populated city center that the area is destined to become is now only a vision.

But Rio Rancho is not wanting for people and neighborhoods. Every quadrant except perhaps the southwest has communities already built or being built. Southeast Rio Rancho, where some of the first homes were built some 30 to 35 years ago (Rolling Hills, Country Club) along with a golf course is still a charming part of the city with detached homes, condos, and apartments. These older communities are now losing their isolation as new developments like Cabezon and others fill out the wide open spaces that separated them. The borders between Albuquerque and Rio are becoming indistinguishable as developments on the edges of each city merge.

On the farthest northwestern edge of the city, Mariposa, a master planned development of high-end homes is under development. When the new city center is complete, Mariposa will not be far away.

To the northeast, current new developments on the edge of Bernalillo link the older River’s Edge communities to ongoing developments (Enchanted Hills) bordering Highway 550. Some of the homes are part of planned, much needed adult communities. Others may in the long run, turn out to be bedroom communities for Santa Fe and Albuquerque. Interstate 25 is close by; Albuquerque is running out of room; and Santa Fe has less affordable housing;

Otherwise, houses are being built in pockets all across the wide open spaces of Rio Rancho. Communities completed include North Hills and High Resort. Loma Colorado, a Pulte project complementary to Mariposa in the northwest, is underway in the mid-north. The only quadrant of the city that is largely untouched by construction is the southwest, and even there, the earthmovers can't be too far away.

Relocaters to the City of Vision in New Mexico have many choices in buying a home. They may choose new or resale, (none older then 35-40 years) custom or tract, and in a variety of neighborhoods. The vision is not complete but unfolding rapidly.

Eloise Gift http://www.eloisegift.com/ A Gift for real estate -A Gift for all seasons

New Mexico Real Estate More Than Land And Buildings

2008-01-12T00:21:00.000-07:00

What constitutes Albuquerque, New Mexico Real Estate? The people, the landscape, the climate, the art, the entire culture and way of life of the city and surrounding areas help define the real estate of the city. Albuquerque would not be Albuquerque without the calming backdrop of the Sandia mountains, the quiet peacefulness of the Petroglyphs, and of course, the river with the bosque.

Albuquerque, New Mexico real estate relates to northeast and northwest Albuquerque but not only to Albuquerque. It also relates to Rio Rancho, Santa Fe, Los Lunas, Los Ranchos, Tijeras, Edgewood, Chama, Taos, Angel Fire, Mora, Chimayo, Madrid, Los Alamos, Ghost Ranch, Espanola, Farmington, Socorro, Las Cruces, Belen, Sky City, and Truth or Consequences, to name only a few of the colorful towns and cities, all of which sound like the names of places out of storybooks, while many tell stories of the land and people.

The Sandias, the Manzanos, the Sangre de Cristo, and the Jemez mountains color the Albuquerque / Santa Fe / Los Alamos real estate, and farther south, the Magdalena and Organ mountains not far from El Malpaís, color the Las Cruces / Socorro world. The Sandia, Manzano, and Sangre de Cristo mountains all carry connotations of red., and the Organ Mountains, connotations of sound. To get to them, you will first have to go across El Malpais (the bad land).

Albuquerque ,New Mexico real estate would not be the same without the Petroglyph National Monument, the Elena Gallegos Park, Cibola National Monument, and Bandelier.

Under all is the land, says the preamble to the Code of Ethics of the National Association of Realtors, and nowhere is that more true, both literally and figuratively, than in the state of New Mexico.

The incomparable climate and the unique landscape attracted the indigenous people who first settled in and around Albuquerque and the rest of New Mexico many years ago. They carved designs of their way of life into the fabric and spirit of their every-day lives. The same attractions continue to lure people to the state. When people invest in Albuquerque real estate they are not merely investing in a piece of land or a house, but in a way of life that gives them access to surrounding national and natural treasures and everything that goes into creating the Land of Enchantment. Albuquerque apart from all it has to offer, is the perfect jumping off point to surrounding areas of enchantment.

Eloise Gift - A Gift for real estate - A Gift for all seasons

Albuquerque, New Mexico Market Report

2008-01-10T21:33:00.001-07:00

The numbers keep changing. No two months are alike. Sometimes the numbers are higher, sometimes lower and they help us answer the question: How is the market doing? Here is the story in graphs, for November. http://members.abqrealtors.com/hs/stats-2007_november-report.pdf, courtesy of the Greater Albuquerque Metropolitan Board of Realtors.

It won't be long before we receive the official figures for December to help us precisely describe 2007 in real estate.

Eloise Gift http://www.eloisegift.com/ A Gift for real estate - A Gift for all seasons

Albuquerque NM Tops Hottest 10 Buyers Market

2008-01-03T16:56:00.000-07:00

Hot off the press! Housing Predictor http://www.housingpredictor.com/top25 in its latest update, places Albuquerque, New Mexico at the top of its list of Hottest 10 Buyers Markets, after a surveying 75 markets nationwide.

According to Housing Predictor, they based their conclusion on Albuquerque's continuing attraction to outside investors that are bringing new industries like film and airplane manufacturing, thus enabling population growth of people who want to buy houses.
This news is, of course, not surprising. Those of us in the trenches everyday usually can sense which way the wind is blowing despite what the headlines say, also know that if people have jobs and the economy is thriving, buyers will have money to buy homes and sellers will be able to sell their homes. This is basically what Housing Predictor discovered.

In a recent post, Albuquerque New Mexico Real Estate Market - Year in Review, I wrote of the opening of new supermarkets, of developers pursuing their goals to build planned communities not only in Albuquerque but adjacent cities of Rio Rancho, Santa Fe, and Los Lunas. We know to keep our eye on the economy because that is the most significant indicator of whether our local real estate market will stay afloat.
Eloise Gift, GRI, E-Pro, EcoBroker
http://www.eloisegift.com/
A Gift for Real Estate ~ A Gift for all seasons

Happy New Year

2008-01-02T02:23:00.000-07:00

May your year be filled with

love, peace, joy.

Happy New Year!

Eloise Gift

A Taste of the Caribbean in the Land of Enchantment

2007-12-19T11:19:00.000-07:00

What does Caribbean fruit cake have to do with New Mexico Real Estate? It speaks to the diversity of the Land of Enchantment. New Mexico has a diverse landscape, diverse climatic regions, and a diverse population and culture to match. As a result, you will also find here an expanding diversity in food and drink that grows richer by the day.

Fruitcake Takes a Caribbean Holiday
I couldn't resist sharing this New York Times article by Julia Moskin with photograph by Chester Higgins, Jr., because they do a great job of explaining the history and culture of the Caribbean fruitcake. In doing so they help me educate my friends about one of my West Indian traditions and the article highlights that in fact, we here in the Southwest share points of diversity with the Big Apple.

The article is timely. At the end of a closing yesterday, my escrow officer told me she was pleasantly surprised to hear a nurse at her doctor's office telling about about the gift of a Jamaican fruitcake received from a former patient. I had been explaining the tradition to her only a few days earlier. With her increased interest, my gift list of fruitcake immediately increased by two. I added her and my very curious client to my list.

Each year, as the holidays approach, I steal time from my business to bake batches of fruitcake and other holiday treats treasured from childhood or adopted from my sojourn in other places. Fruit cake is the one treat that improves with age, so I can make it and store it to "ripen" steeped in liquor. (Read the NY Times article.) When I serve fruitcake during the holidays, in the tradition of my homeland, invariably guests will request it for the next year. The list keeps growing. I am happy to continue and expand on a sweet tradition that started a long way from the Caribbean in the Land of Enchantment, adding to its diversity.

Albuquerque, New Mexico Housing Market Holding Steady

2007-12-16T19:03:00.000-07:00

At the beginning of 2007, the prediction was that the Greater Albuquerque real estate market would remain vibrant through 2007 and 2008 as long as the economy remained vibrant and people had jobs. Is our economy vibrant? Do people have jobs?

It is continuous ebb and flow. Based on what is reported in the local media, some businesses (Technology Ventures Corporation (TVC) for example) are anticipating having to cut their workforce because of lack of funding.

Our local national laboratories, Sandia and Los Alamos that have been reliable employees over a long period, have been expecting a shift in demand for traditional products and have been planning adjustments to mimimize the impact on their workforce. Intel, another of our largest employers, gave notice and then laid off workers earlier this year.

However, if the evidence in Albuquerque is any indication of what is happening elsewhere in the state, the workforce seems to have reabsorbed the displaced workers and there is no perceved threat to the real estate industry. Across the city, every month, many ribbon cuttings announce the start up of several new small businesses. (Small businesses account for 87% of the employees in our region.)

On the Westside, where residential growth has been strongest and everyone is waiting for commercial to catch up, two large retailers, Costco and Smiths-both large groceries- opened their doors within days of each other in December, providing new jobs and injecting money into the Westside Albuquerque economy.

Both Sandia and Los Alamos along with other National Laboratories around the country are seeking to diversify their product through technology ventures to fill the anticipated gap left by the discontinuation of traditional services, and so our local labs continue to be major employees.

It is no surprise, therefore, that the latest report issued by the Albuquerque Metropolitan Board of Realtors (soon to be the Greater Albuquerque Board of Realtors) confirmed that even with the continuing imbalance of supply and demand, home prices in our region continue to increase. The average price of homes in the local Albuquerque residential market showed a 7.5 percent increase in October. Visit www.eloisegift.com and www.newmecicohomesbyeloise to search for New Mexico, Albuquerque porperties.

Eloise Gift

Albuquerque, New Mexico Home Prices -Market Report

2007-12-09T09:36:00.000-07:00

The Greater Albuquerque Association of Realtors reports for October (latest available) confirm that although the volume of home sales remain down from the highs of the last two to four years, home prices increased. The average existing price increased 7.55 to $246, 522. The fact that supply is greater than demand does not appear to be affecting prices adversely.

New listings of 2, 393 homes increased the total number of homes on the market to 6, 131 and only 687 homes sold. The average number of days for a home on the market before it sells has increased from 43 to 51.

Albuquerque continues to be a favorite destination for folk seeking a good place to live, work and raise a family.

Albuquerque Realtor Certified EcoBroker

2007-11-24T12:02:00.001-07:00

ALBUQUERQUE REAL ESTATE PROFESSIONAL EARNS ECOBROKER DESIGNATION. BUYERS AND SELLERS ARE ENCOURAGED TO CONTACT ELOISE GIFT FOR INFORMATION ON THE ENERGY EFFICIENCY, “GREEN,” COMFORT, AND HEALTH-RELATED FEATURES OF HOMES AND BUILDINGS.

Albuquerque, NM—November 23 – Eloise Gift of Keller Williams Realty in Albuquerque, NM has earned the EcoBroker Certified® designation, having successfully completed a unique and informative training program on the energy and environmental issues that affect real estate transactions. Ms. Gift joins the movement of professionals pushing the real estate market toward energy-efficient, sustainable, and healthier design/features in homes and buildings. The “performance home” movement is getting a boost thanks to this type of high quality real estate professional earning the EcoBroker designation.

EcoBroker International’s education and designation program is designed exclusively for real estate professionals who care about the environment and want to help their clients benefit from the energy-efficiency, “green,” and healthier features of homes and buildings. Real estate professionals must complete the extensive EcoBroker curriculum and training and fulfill additional program requirements to become Certified EcoBrokers®. “Ms. Gift is an example of the quality real estate professional the EcoBroker designation continues to attract,” explains EcoBroker International’s CEO, Dr. John Beldock. “These real estate professionals are not only distinguishing themselves in a competitive market place, but they are really giving back to the community in very constructive and meaningful ways. Albuquerque needs more contributors like Ms. Gift. The planet and our grandchildren need them too,” Dr. Beldock said.

For additional information please contact:

Eloise Gift
Office: 505-897-1100
Direct: 505-363-5156
Email: Eloise@EloiseGift.com

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It's Balloon Fiesta Time Again!

Greater Albuquerque Association of REALTORSÃÂ® | Market Statistics | Report | August 2009 Market Report

Albuquerque Market Update - The Impact of Impact Fees

Gift Realty NM

Bonanza For First-Time Home Buyers

Albuquerque's Watermelon Mountains

Greater Albuquerque Area Market Update

Another Week in th Q

Albuquerque, NM on Top Ten Best Cities List AGAIN

Accessible Santa Barbara in Albuquerque NM

Real Estate Investment Now and For All Seasons

Rotary International District 5520 Convention

Clean up Day in Paradise

Real Estate, an Investment for All Seasons

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

Body Count 13 - No Serial Killer on the Loose

A Powerful Noise: Meg Ryan says A POWERFUL NOISE is the "real spirit of the women's empowerment movement"

Happy Valentine's Day

The Forty-Ninth New Mexico Legislative Session

2008 Residential Home Sales Report, Greater Albuquerque Area

The City of Albuquerque - An Update

New Mexico Celebrates the Inauguration of Barack Obama

Albuquerque, NM Market Update

Last Free Rides to Santa Fe

Albuquerque New Mexico Holiday Traditions

Albuquerque Events

Time With my Little - A weeked Off?

Market Update– Albuquerque Westside Paradise Hills Civic Association Area (PHCA)

Positive Events _Celebrating the Present, Honoring the Past, Ensuring the Future

Open Houses in Albuquerque NM November 29 - 30, 2008

Happy Thanksgiving!

Across Four Septembers of Real Estate –Albuquerque, NM 2005 – 2008

Good-bye Balloon Fiesta - Hello Parade of Homes

Kindergarten Balloon Treat

The Crowds Came - NM State Fair Ends with a Bang

Another Afternoon at the New Mexico State Fair

A food convention in Albuquerque,NM

Financial Institutions Collapse

Governor Bill Richardson Lowers State Fair Prices

New Mexico State Fair 2008 - Albuquerque

Continuous Change

Paradise Hills - A Premier Albuquerque Westside Community

The Trails - A Developing Westside Neighborhood

North Valley Farmers Market Worthy of Slow Food Celebration

North Valley Farmers Market Prosuce is Slow Food

Balloons Over Albuquerque- Fiesta Draws Near

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