Albuquerque New Mexico Real Estate

Food for Life – Community Gardens #BAD11

Eloise Gift — Sun, 16 Oct 2011 23:07:00 GMT

In celebration of World Food Dan and Blog Action Day I am making the observation that for several years, I have known fewer people than I can count on one hand who, year after year, cultivated backyard vegetable gardens. Suddenly, this year, everywhere I go, I seem to hear about community gardens, many of which are not off the beaten track in country backwoods but in the heart of urban areas , thriving in inner cities. I have not seen them in real life, but those that appear on television appear...(read more)

Rio Rancho - City of Vision and Homes

Eloise Gift — Fri, 05 Aug 2011 20:21:00 GMT

If there is one city in New Mexico where growth is obvious, it is Rio Rancho. A multiplex cinema opened up at Unser near Southern a few months ago, sparking the opening of at least three eateries nearby around the corner from the Starbucks.Further down Unser, they are putting the finishing touches on the Presbyterian Hospital that is expected to open this fall. Forty-four thirty-six Snow Heights Circle is also in Southeast Rio Rancho just a bit farter north not far from the Pat D'Arco Highway....(read more)

What do Americans Want?

Eloise Gift — Fri, 29 Jul 2011 19:29:00 GMT

The majority of Americans looking to buy a home want good schools and good neighborhoods that are walkable . Those are the findings of a recent survey by the National Association of REALTORS ® (NAR). According to the survey, Americans value schools and neighborhoods more highly than size of home. When considering a home purchase, fifty-six percent want neighborhoods where they can walk to parks, restaurants and entertainment instead of having to drive. Seventy-seven percent say an abundance of...(read more)

Where is the Market Headed?

Eloise Gift — Mon, 28 Mar 2011 03:45:00 GMT

Greater Albuquerque Metropolitan Area February 2011 indicators give reason to be optimistic about the residential real estate market recovery. Median sales price, average sales price, closed sales and dollar volume of closed sales were all higher than in February 2010. It is significant that average price seems to be increasing consistently. At $220,299, it reflected an increase of 6.6 percent increase over February’s average and was higher than the average for 2006, the third down from the...(read more)

Preparing Your House for Sale

Eloise Gift — Mon, 28 Feb 2011 18:41:00 GMT

Inventories of homes for sale are high all across the country as competition continues from distressed properties. Fewer than usual qualified buyers are looking for homes. If you are thinking of selling, follow some time-honored advice, good for all seasons and especially in challenging markets. Impressions start at the curbside draw prospects to the front door, then on inside. So start with the garden. Prune and cut back overgrowth. Rake or blow leaves Spring is the perfect time to add new plants...(read more)

Greater Albuquerque, New Mexico January 2011 Market Update

Eloise Gift — Mon, 28 Feb 2011 15:28:00 GMT

Across the state of New Mexico , home sales were up almost 3 percent from January 2010 and 14 percent from January 2009. Taos County led the rally, reporting almost twice as many sales as in January 2010. Santa Fe and Bernalillo Counties also reported increase in sales but with median price in both counties less than in 2010. Santa Fe’s median price was $311,000 and Bernalillo County $172,000. In the Greater Albuquerque market area which includes Bernalillo, Sandoval, and Valencia Counties,...(read more)

'Tis the Season to be Jolly

Eloise Gift — Thu, 02 Dec 2010 23:24:00 GMT

'Tis the season to be jolly, the holiday season when we coulld easily spend every evening of the next 30 days at a holiday party or other festive event. This year, despite continuing economic hardship for many, I have noted dogged determination not to let hard times put a damper on holiday cheer. Not only private parties but public, new and traditional events are on calendars. Check out the Community Events Page for local public events. Commendably, hosts and hostesses are not forgetting those...(read more)

Don't Underestimate Curb Appeal

Eloise Gift — Mon, 08 Nov 2010 06:45:00 GMT

When you put your house on the market one thing you want to do is lure would-be buyers to enter your home to see the floorplan, the marvelous updates and the loving care you have taken over the years. Your home has lovely features and amenities but if prospective buyers constantly drive by without stopping and never enter the property, you have little chance of convincing or persuading them to buy . So when you are considering selling, do not neglect to work on landscaping for curb appeal as much...(read more)

HouseLogic Valuable Realtor Resource

Eloise Gift — Mon, 08 Nov 2010 04:33:00 GMT

Would you like to learn more about home care, maintenance, protection and management? Through membership in the National Association of Realtors, I am able to provide my customers and clients with a valuable information resource to take care of one of their most valuable assets. Access HouseLogic through my blog to start taking advantage of resource s like Joe Bousquin's article onwater heaters and saving energy, Water Heater Heaters: Five Tips For Saving Energy....(read more)

2010 Parade of Homes

Eloise Gift — Mon, 18 Oct 2010 03:17:00 GMT

Every year, the Homebuilders Association of New Mexico hosts the Parade of Homes that showcases the best of the best homes built in the area. The 2010 Parade has fewer homes than in recent years but is every bit as interesting as it has always been. Homes on tour, are in Rio Rancho, Corrales, the Northwest Heights, the Northeast Heights, Placitas and the East Mountains, I note a greater number of lower priced production homes added to the parade, as if to compensate for the reduction in the number...(read more)

Parade of Homes

Eloise Gift — Mon, 18 Oct 2010 03:11:00 GMT

Note that this information is outdated.

Annual Homebuilders Association of Central New Mexico Event spread over three weekends

When/Where: Greater Albuquerque Area/ October 8-10, 15-17, 22-24

The Short Sale Inventory

Eloise Gift — Fri, 18 Jun 2010 20:25:00 GMT

In the current real estate market, every community in the nation has its share of short sale and bank-owned inventory, and the greater Albuquerque, New Mexico market is no exception. The difference in the size of each market's inventory lies in the degree of impact of the mortgage loan crisis. Surprisingly, although we are well into the third year of the downturn with rising inventories of short sales and bank-owned in the market, i routinely have conversations with people who think a short sale...(read more)

How Many Homes Did We Sell in Albuquerque, NM in May 2010?

Eloise Gift — Tue, 15 Jun 2010 16:24:00 GMT

If the greater Albuquerque area was not a destination for many out-of-towners in May, we must conclude that many locals bought new homes for the first time, downsized, or upgraded. In all, 731 detached single family homes sold, compared to 678 in April. This was the highest sales record for the month of May since 2007. (You may remember, that was the year of the start of market decline in our area.) Home sales in May, when broken down, also reflect sales increase of 28.09 percent for the city of...(read more)

Juneteenth

Eloise Gift — Wed, 26 May 2010 03:15:00 GMT

Note that this information is outdated.

Rio Rancho Northwest NAACP sponsors Junteenth celebration, June 19 at 11:00 AM., All are invited

When/Where: Roskos Field, Haynes Park, June 19, 11:00 AM.

Homes In Ladera Heights NW, Albuquerque NM

Eloise Gift — Thu, 18 Mar 2010 03:25:00 GMT

Sundance subdivision is just one of many small neighborhoods that make up the Ladera Heights Community, an interesting blend of old and new subdivisions west of Coors stretching across Unser onto the Mesa from Taylor Ranch south, past Interstate 40. That's where you will find 8620 Hatteras Place , Built in 2004, it is a little bit more than your basic home since it has four bedrooms and three baths. It is well-cared-for, still looks new, and is for sale. Kirtland Air Force Base employees, Downtown,...(read more)

Low-Flow Toilets Must Wait

Eloise Gift — Mon, 08 Mar 2010 02:17:00 GMT

Greater Albuquerque REALTORS® can stop worrying about having to monitor toilets, at least for the time being. The Albuquerque city council unanimously approved a moratorium on the plumbing fixture retrofit on sale ordinance (O-06-41) during the March 1, 2010 meeting. The resolution, proposed by Councilor Trudy Jones, (R-10-48) is retroactive to January 6, 2010 when the original legislation went into effect. According to Councilor Jones’ office, the moratorium will extend until, “the...(read more)

Spring Forward!

Eloise Gift — Sun, 07 Mar 2010 23:22:00 GMT

Sunday, March 14 at 2:00 a.m. we revert to standard time. We must all remember to move our clocks forward 1 hour – to "spring forward "- so as not to miss our Sunday, standing appointments and fall out of step with the rhythm of our lives. To help us along, the University of Oklahoma Police Department offers some sage advice on tasks we might consider carrying out in conjunction with adjusting our clocks. Coinciding with the time change, the department recommends: · Checking...(read more)

Blogging Around

Eloise Gift — Mon, 19 Oct 2009 20:31:00 GMT

Today I decided to google my name and look over a few of the posts I have written elsewhere about Albuquerque and New Mexico over the years and came upon this site: Localism - Cochiti Pueblo.I don't contribute as much as I would like to this site any more and was pleasantly surprised to see what I had contributed. It was like a walk down memory lane and I decided to share it on this platform . The posts brought back memory of the pleasure I had visiting places, photographing sites and writing about them. Daytripping is still one of my my favorite things to and some of these spots are definitely worth revisiting not just once, but many times.

As the fall days shorten, the leaves along the bosque turn golden and the light changes, it is a great time to take a stroll down a memory lane of blog posts.

Albuquerque, NM Housing Market Update

Eloise Gift — Fri, 22 Aug 2008 07:25:00 GMT

The Greater Albuquerque Metropolitan real estate market continues to share the experiences (though comparatively less severely) of most other cities acrosss the country. The downturn that began in the 2007 for our region) has led to an increase in foreclosures and an increase in the inventory of houses for sale.

Conditions brought about by sub-prime lending practices, adjustable rate mortgages and the ensing tightening in lending practices have contributed to an ongoing downward shift primarily in the residential real estate market.

New Mexico's housing market did not enjoy the rapid and inflationary increases of many other states. Ours was a gradual moderate rise in prices. Consequently, the decrease in home prices in the state has not been as great or as precipitous as in others. So while some regions are seeing decreases in home prices as great as 30%, and double digit percentage increase in in foreclosures, in New Mexico, foreclosures have declined . Despite the increase in inventory in the Greater Albuquerue Area, home prices have not plunged. Decline has been gradual-more like the gentle ripple effect that we have come to expect at times of market and economy changes.

We have an eight month supply of homes for sale making it a buyer's market. Yet many buyers are unable to buy. First-time home buyers, invesotrs, and some other sectors of our community are currently having difficulty getting loans because the rules have changed. On the other hand, some who are able to qualify are still not partiipating in the market, but are adopting a wait-and-see attitude. Will prices fall lower? Will the economy get worse? yet other prospective buyers cannot buy because the are unable to sell their current house to move on.

In New Mexico, we are optimistic that the shift upward will return soon because we know that people with jobs are able to earn an qualify for loans to buy houses. The real estate market recovery depends in large part on tNew Mexico's continuing ability to attract business and create new jobs. Those indicators are positive with the recent arrival of new employers like Fidelity Investments, Schott solar, Prudential Investments and an ever-increasing group of small business owners.

Second Quarter Performance

During the last quarter, across the board in the greater Albuquerque housing market, the average price of a single family detached house decreased 3.9 percent from $248,185 in 2007 to $240,514. We sold 27.83 fewer homes than in 2007 with a decrease in monetary volume of 30.67 percent.

All of the above occurred despite a twenty-five percent reduction in the number of new listings that appeared on the market and a 71.7 % increase in days on the market.

The best performing market area for the quarter in 2007 was the Southwest Heights and the worst, the Northwest Heights. The best performing so far this year has been the Northeast Heights and worst performing, Rio Rancho.

The picture for condos and townhouses was different for some criteria and similar in others. Unlike detached houses, both the average and the median price of condos and townhouses increased (average: 2.12%) and (median: 4.67) .New condo and townhouse listings increased by a stalwart 80%. However, fewer condos and townhouses sold in the last quarter (-18%) resulting in a total dollar volume loss of 16.94%. Time on the market was seven times longer for condos and townhouses than for detached houses. The average number of days increased from an average of 21 days on the market to 67 days - an increase of 157%.

Best performing area for condos and townhouses for the period in 2007 was Ladera Heights. This year it’s the Northeast Heights. Worst performing condo/townhouse area last year was Rio Rancho. Worst performing area during the last the last quarter was Uptown.

Eloise Gift, CRS, GRI, EcoBroker Certified
www.eloisegift.com

Greater Albuquerque, NM Real Estate Market Update

Eloise Gift — Tue, 03 Jun 2008 18:10:00 GMT

navigating the ripiples of the ABQ market
June 2008

Recently, some areas of our community had transactions that were adversely affected by higher loan-to-value ratio requirements imposed by lenders because of falling sales prices. Several areas, identified by zip codes, were labeled "declining areas" and buyers were asked to come up with higher down payments. Buyers told they qualified for loans saw their situation reversed overnight and their hope of home ownership diminished as lending policies changed in without warning. These 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. Thank heavens, there has been another reversal. Good News Beginning June 1, Fannie Mae and Freddie Mac 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 get up to 95 percent loan-to-value mortgages. This is good news for buyers and sellers, especially for those living in the neighborhoods targeted. It is also good news for the real estate industry and the economy of the entire region. With the stigma removed, we expect to see all neighborhoods thrive and fewer people denied their dream. Sellers, be patient! Buyers, help is on the way!

Eloise Gift
Associate Broker
Keller Williams Realty
www.eloisegift.com
HABLO ESPANOL

Ups and Downs of Life and the Market

Eloise Gift — Fri, 09 May 2008 01:46:00 GMT

In Albuquerque, New Mexico, the skies are still as blue as always as the sunlight continues its daily light and shadow plays across the Sandia mountain ranges. Not much has changed. But we watch the billboards to see if gas prices are showing any inclination to go down. And we think of diplomatic ways to explain to our clients the reality of the current real estate market. The houses are still as beautiful as they've always been. They are still as well kept, and we still have buyers. But many homes no longer seem to receive offers on the first day they are listed, and multiple offers are rare.

So what happened? The yin and yang of life, the ever-present life cycle of beginnings and endings, birth and rebirth, ebb and flow happened. It is as a wise man told his son. Life is like walking across the back of a zebra. You have to go from black to white stripes. When you are on a black stripe, walk slowly, and enjoy the good times of being in the black, knowing that sooner or later you are going to be coming upon a white stripe. When you get to the white stripe, run as fast as you can to get to another black stripe and and have prosperity again.

Today, I advised one of my clients that it was prudent to reduce her property by $10,000. She agreed and I expect to find her a buyer soon. I also and that both buyer and seller will be happy at the end of the transaction. They will both be winners. I have the best clients in Albuquerque and the world. They are all winners.

New Mexico Gets Economic Report Card

Eloise Gift — Thu, 10 Jan 2008 23:45:00 GMT

Eloise Gift www.EloiseGift.com A Gift for Real Estate

The New Mexico Bureau of Business and Economic Research gave its state of New Mexico report yesterday and it wasn’t all bad. Larry Waldman, senior economist at the University, said the New Mexico economy is walking, and not running as it was in 2006.

New Mexico’s economic growth though slower than 2006 and previous years, is still outperforming the national economy.

Reasons for the less-than-stellar performance of the economy are to be found in the construction, mining, and manufacturing industries. The construction industry grew in the third quarter of 2006 but slowed in the third quarter of 2007. Fewer new housing permits were issued, and demand for materials like cement and steel drove up building costs.

Two thousand seven saw a reversal in the robust manufacturing growth of 2006. Several New Mexico’s manufacturers reduced their labor force – Intel Corp., www.intel.com Eclipse Aviation, http://www.eclipseaviation.com/ , Advent Solar, http://www.adventsolar.com and Millennium Transit, http://www.answers.com/topic/millennium-transitservices, among others. In addition, the mining industry performance is also sluggish with a reduction in revenue from 2006.

With these adverse changes, one would expect the unemployment rate. However, the state of New Mexico’s unemployment rate remains lower than the national average because despite job losses in certain sectors of the economy, the state had a net gain of several thousand jobs.

The explanation for the net gain lied in the fact that other sectors absorbed the job losses. New Mexico’s growing film industry, new small businesses (providers of 80% of state employment) health care, and the government sector picked up the slack.

What does all of the above have to do with real estate? The report is highly relevant to the real estate industry. People without jobs, and therefore without income, are unlikely consumers (buyers) and sellers need buyers.

Consequently, the real estate industry in New Mexico can take heart. Although the report was not as optimistic as last year’s, is not as pessimistic as it could be. New Mexico’s economic outlook is cheerier than the overall national outlook, which may account for the real estate industry’s performance here being somewhat cheerier than that of the national. As we have said in these posts before, in real estate we keep our sights on the economy and remember that real estate is always local.

Albuquerque Housing Tops List of Hottest Buyers' Markets

Eloise Gift — Fri, 04 Jan 2008 08:02:00 GMT

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
www.eloisegift.com

Embracing Green as an EcoBroker

Eloise Gift — Sun, 25 Nov 2007 00:27:00 GMT

Local Real Estate Professional Certified to Address and eNCOURAGE the Benefits of Energy Efficiency and Green Features in Homes

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.

EcoBrokers^® like Ms. Gift throughout the country are forging this market and creating competitive advantages for their customers. With national surveys indicating that 80% of consumers consider themselves “green-minded,” real estate professionals with the EcoBroker designation are in a better position to serve the real estate consumer. “I’m always looking for the best ways to offer my clients the best value. My EcoBroker training helps me ensure that customer service is my number one priority,” Ms. Gift explains. “From windows to moisture control to energy savings, I now have more resources at my disposal to help my buyers and sellers make better real estate decisions. The EcoBroker designation doesn’t make me an energy and environmental expert, but it allows me to better understand the issues and to convey this understanding to my buyers and sellers.”

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.

From her Albuquerque office, Eloise Gift explains, “With EcoBroker^Ò training, I have broadened the range of real estate opportunities I offer my clients. Whether the transaction involves environmental assessment and mitigation (mold, radon, etc.) or the opportunity to reduce utility bills, I’m in a position to help. The real estate industry is changing, and to offer my clients the very best service I need to understand the newest designs, technologies, and environmental issues. Adding the EcoBroker designation to others I already earned helps me do just that.”

Ms. Gift earned her EcoBroker Certified^® designation this month (November) and is wasting no time in putting her additional expertise to work. Eloise has already found that being a Certified EcoBroker^® creates added value and customer satisfaction that sets her apart from other agents. For example, in conversation with a green builder of a LEED certified home, Eloise was able to show the prospective seller how she can highlight the benefits of his newly constructed home’s cooling and heating systems, as well as other energy saving features like the windows. She also suggested an inexpensive energy efficiency test. Her innovative energy and environmental perspective won her the confidence of the builder who was looking for ways to highlight green features of his home. Ms. Gift says she’s looking forward to continuing to positively impact the quality, durability, comfort, safety, and cost-effectiveness of homes and commercial buildings through her new skills.

For additional information please contact:

Eloise Gift

Office: 505-897-1100

Direct: 505-363-5156

Email: Eloise@EloiseGift.com

Timing Is Everything In Real Estate

Eloise Gift — Sun, 27 May 2007 19:20:00 GMT

In real estate, Timing Is Everything may have more than one meaning

My client, Shauna (not her real name) is businesslike and decisive. When she called me about selling her house. She was not hesitant. She had thought about the matter and she knew what she wanted to do. She was ready." I am moving to Florida. I discussed it with my husband and we are both in agreement. I want you to sell my house."

"When would you like me to come over to see it?" I asked.

"As soon as you can, I'd like to put it on the market this week." We agreed to meet the following day after her husband , John's scheduled medical appointment. About an hour into the appointment, Shauna called to say she would be delayed for our appointment becauseJohn was to be admitted to the hospital.

Shauna and I met the following day for our listing appointment. I made recommendations for preparing the home for sale and established a time line for doing so. Shauna is an ideal client. She agreed to follow my suggestions, reminding me that she had learned to appreciate my standards and values when I sold her mother's home two years earlier.

"The first time you worked for us I thought your were a pain in the ______ because I didn't understand what you were trying to do. But when I saw how quickly you got my mother's home sold, I was sold on you."

I told her that a successful transaction was always a joint effort. In working with her to sell her mother's home Shauna lived up to her side of our agreement, She followed my insructions to take control the aspects of the transaction that she could and was pleased with the favorable results she received.

Now, a year later, she did not hesitate to call me, she said, to sell her own home for her move to Florida. After a week on the market, however, the news from John's doctors suggested he would not be released soon to return home and it was unlikely he would be able to undertake a major move of the type he and Shauna were planning.

Shauna was tearful when we met. Sitting at her kitchen table, two calls came in from prospective buyers who wanted to view the property. In her usual decisive way, she told the agents she was taking her home off the market.

She explained to me that because of the uncertainties surrounding John's illness, she would postpone her plans. She requested a cancellation of the listing, at least for the time being.

I went to my office and prepared the amendment to terminate, returned to get her signature, removed the lockbox, and picked up my signs. There is a time and a season for everything.