ABQ-area market offers fewer home listings, higher prices

New D.R. Horton homes are under construction in the Milagro Mesa subdivision in Rio Rancho. (Greg Sorber/Journal)

ALBUQUERQUE, N.M. — The spring home buying season in the Albuquerque metro area could be described this way: Fewer house listings, higher prices and faster deals.

It wasn’t just the weather that was heating up in Central New Mexico as April ended and May began. As the summer months approach, experts say home buyers should be prepared to face one of the most competitive selling seasons in years.

They say based on the number of single-family home transactions in April, demand will be intense. And that’s in an environment of rising home prices, mortgage rates and changes in the tax law that limit mortgage deductions.

While closed and pending sales were up in April from the previous year, there were fewer single-family homes to choose from, according to figures released this week by the Greater Albuquerque Association of Realtors.

The inventory of existing single-family homes for sale in the Albuquerque metro area shrunk more than 17 percent from last year in the GAAR coverage area, a region that includes Bernalillo, Valencia, Sandoval, Torrance and parts of Socorro and Santa Fe counties.

Even the number of condos and townhomes on offer saw an inventory decline of 16.5 percent from April 2017, according to GAAR.

With more buyers vying for fewer single-family residences, prices continued to climb higher. The average sales price in this category rose 2.5 percent from April 2017 to $242,037. Also during this period, detached homes moved four days faster than last year, selling in 47 days.

Still, rising home prices have yet to squelch demand, especially for those on the first rung of the property ladder, said GAAR’s president in a recent interview with the Journal. Being quick with an offer is still the rule of the day in most metro area submarkets, said Danny Wm. Vigil, GAAR president. “The Greater Albuquerque market has proven to be a strong seller’s market for 2018 so far,” he said. Year to date, sellers are getting 98 percent of the list price, according to GAAR.

But buyers are still hungry, Vigil said, and competition for homes that show well and that are still on the market continues unabated.

Meanwhile, an indicator of new-home construction in the metro area saw its best month so far this year. According to DataTraq, 203 residential building permits were issued in April. Volume rose 55 percent from last April’s figure of 131 permits.

One industry observer said the April number is a “nice bump” in activity but he isn’t sure it means the beginning of an upward trend.

“I think (April’s permit activity) is more of a case of builders like D.R. Horton, Pulte and LGI trying to close existing subdivisons out,” said John Garcia, executive vice president of the Home Builders of Central New Mexico.

In the past year, hot spots for new-home buyers were the Mirehaven, Desert Sands, Saltillo and Los Diamantes sudvisions. These communities were issued the most residential building permits.

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Albuquerque Mayor Tim Keller gives State of the City address – Albuquerque Business First

Before he became mayor of Albuquerque, Tim Keller sat through his share of State of the City and State of the State addresses.

He learned how mayors and governors talk: mention how great the city or state is, discuss the problems and what’s holding it back, and end with big-picture concepts.

"It’s a pretty good formula for a speech," he said. "I want to do something a little bit different today."

Keller began his six-month State of the City update Monday as the NAIOP guest speaker at Albuquerque Marriott by saying the touristy photos of the city don’t always line up with reality.

"We’re a city that is stricken by addiction, that is dealing with real crime problems that are worse then they’ve been in recent years," Keller said. "We’re a city, I think, that is treading water just to keep up.

"It’s going to be a hot summer. It’s going to be a summer, I think unfortunately, no matter what we do today, [that] will be marked by homelessness, marked by crime and wildfires."

He said the city is long on ideas, but short on solutions, and said it cannot rely on bigger companies, or "silver bullets," to save it.

Keller laid out three tasks that should Albuquerque solve, it could compete with cities like Denver, Phoenix and Austin in neighboring states: get crime under control, figure out strategic placemaking with businesses and place a higher emphasis on after-school and youth summer programs. Placemaking is strategically placing economic development projects where they benefit the surrounding community.

The mayor said the city submitted a budget that will have the resources to beef up the police enough to make a dent in crime, should it get passed, drawing applause from the audience at the meeting hosted by NAIOP, a commercial real estate development association.

For each public project the city will explore, Keller said he will ask if it builds on Albuquerque’s core, if it’s part of a growing trend nationally, if it will help the city become a national leader in something, if it will add economic-based jobs that will pull money into the city rather than dividing it, and if it will be a part of strategic placemaking.

"That’s how we make step-change development in Albuquerque," the mayor said.

Keller touched on his new initiative to review all out-of-state contracts and said he hoped businesses in the audience could land some of the contracts that come up for grabs.

When Keller was state auditor, a transparency report from his office found that New Mexico’s information technology industry had the highest proportion of large contracts awarded out of state of any industry.

In fiscal year 2015, New Mexico spent about $40 million out of $48 million on IT contracts worth $60,000 or more outside the state, amounting to 84 cents of every dollar spent on IT going to outside companies, the report said.

"We have to actually try and hit the target, instead of looking for other solutions," Keller said Monday, "and to do this, we have to come together as one Albuquerque."

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GRAPHIC: Dad accused of prostituting young daughter in NM

A father in Albuquerque, NM, is facing human trafficking and child abuse charges after allegedly prostituting his 7-year-old daughter for drugs. (Source: KOAT/Albuquerque Police Department/CNN)

ALBUQUERQUE, NM (KOAT/CNN) – A father in New Mexico is facing several charges after being accused of forcing his 7-year-old daughter into prostitution.

Teachers at the girl’s school alerted officials to launch an investigation, but it was months before action was taken to protect the child.

"My immediate reaction as a mom, and as a human, is just absolute disgust and heartbreak," said Monique Jacobson, the cabinet secretary for the New Mexico Child, Youth and Families Department – or CYFD.

The man is behind bars after New Mexico’s attorney general said he prostituted his 7-year-old daughter for drugs.

Court documents said the little girl is homeless and would show up to Lew Wallace Elementary School, exhausted and disheveled, telling teachers: "Mom and I hustle."

Back in November, the criminal complaint said a teacher called police when she noticed dried blood on the girl’s underwear. Police took a report and notified CYFD.

But the little girl and her brother stayed with their parents.

Documents show the Albuquerque Police Department talked to the family at a nearby motel and said there was "nothing that could cause concern of either of these children being abused in any way by their parents."

Six months later, New Mexico Attorney General Hector Balderas became involved because a school nurse said she was worried about the little girl.

Investigators talked with the 7-year-old and her brother.

According to court documents, their father prostituted the girl and made both children panhandle and steal.

Balderas is angry that nothing happened to help the children six months ago.

"There absolutely just need to be earlier interventions when it comes to protecting young children," Balderas said.

CYFD has ordered an internal review. If something was done incorrectly, they said the right people will be held accountable.

"We’re still – from our perspective – doing a real deep dive into all of that," Jacobson said.

APD said they’re still looking into what happened on their end. Balderas said that’s simply not good enough.

"These types of agencies need to take some responsibility in evaluating all of these cases, but there clearly needs to be timelier interventions when it comes to protecting children," Balderas said.

James Stewart, the father, is facing human trafficking and child abuse charges. It’s unclear if the mother will be charged.

Balderas gave credit to school faculty and staff for contacting authorities. He said they likely saved the girl’s life.

CYFD officials said they’re unable to remove children from their parents until they’re ordered to do so by a judge or law enforcement.

Copyright 2018 KOAT via CNN. All rights reserved.

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GRAPHIC: Dad accused of prostituting young daughter in NM

A father in Albuquerque, NM, is facing human trafficking and child abuse charges after allegedly prostituting his 7-year-old daughter for drugs. (Source: KOAT/Albuquerque Police Department/CNN)

ALBUQUERQUE, NM (KOAT/CNN) – A father in New Mexico is facing several charges after being accused of forcing his 7-year-old daughter into prostitution.

Teachers at the girl’s school alerted officials to launch an investigation, but it was months before action was taken to protect the child.

"My immediate reaction as a mom, and as a human, is just absolute disgust and heartbreak," said Monique Jacobson, the cabinet secretary for the New Mexico Child, Youth and Families Department – or CYFD.

The man is behind bars after New Mexico’s attorney general said he prostituted his 7-year-old daughter for drugs.

Court documents said the little girl is homeless and would show up to Lew Wallace Elementary School, exhausted and disheveled, telling teachers: "Mom and I hustle."

Back in November, the criminal complaint said a teacher called police when she noticed dried blood on the girl’s underwear. Police took a report and notified CYFD.

But the little girl and her brother stayed with their parents.

Documents show the Albuquerque Police Department talked to the family at a nearby motel and said there was "nothing that could cause concern of either of these children being abused in any way by their parents."

Six months later, New Mexico Attorney General Hector Balderas became involved because a school nurse said she was worried about the little girl.

Investigators talked with the 7-year-old and her brother.

According to court documents, their father prostituted the girl and made both children panhandle and steal.

Balderas is angry that nothing happened to help the children six months ago.

"There absolutely just need to be earlier interventions when it comes to protecting young children," Balderas said.

CYFD has ordered an internal review. If something was done incorrectly, they said the right people will be held accountable.

"We’re still – from our perspective – doing a real deep dive into all of that," Jacobson said.

APD said they’re still looking into what happened on their end. Balderas said that’s simply not good enough.

"These types of agencies need to take some responsibility in evaluating all of these cases, but there clearly needs to be timelier interventions when it comes to protecting children," Balderas said.

James Stewart, the father, is facing human trafficking and child abuse charges. It’s unclear if the mother will be charged.

Balderas gave credit to school faculty and staff for contacting authorities. He said they likely saved the girl’s life.

CYFD officials said they’re unable to remove children from their parents until they’re ordered to do so by a judge or law enforcement.

Copyright 2018 KOAT via CNN. All rights reserved.

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Albuquerque, NM Real Estate: Foreclosures

Foreclosures listed for sale in and around Albuquerque could provide opportunities to move into a home you couldn’t afford otherwise. Foreclosures for sale are still being listed regularly all across New Mexico, including in Albuquerque.

So where can you find foreclosures in Albuquerque? Here’s a look at the most recent listings from our partners at realtor.com.

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Contractor’s tiny homes may help solve housing problem

ALBUQUERQUE, N.M. – New Mexico is not immune to a housing shortage being felt across the country.

A new report from the National Low Income Housing Coalition found “no state has an adequate supply of affordable rental housing for the lowest income renters.”

In New Mexico, the report shows there are 43 affordable and available rental homes for every 100 renter who makes 30 percent or less than their area’s median income. It’s a number that doesn’t surprise Santa Fe contractor Zane Fischer.

“We’re not looking at a problem coming down the road,” said Fischer. “We’re waking up to a problem in the middle of it.”

Fischer is the CEO of Extraordinary Structures. He’s focused on creating an efficient, affordable way to build energy-smart homes. Usually, that means fewer square feet.

“Smaller homes is less area to heat and to cool, not to mention vacuum which we all enjoy a break from every once in a while,” said Fischer. “But the other end is figuring out how to, you know, not necessarily do huge high rise apartment blocks, but if we can make pocket neighborhoods or compact communities where we’re living in smaller houses with shared open space we can maximize our resources and kind of create those neighborhoods of yesteryear and those European neighborhoods that we all find still have so much charm,” said Fischer.

A 200-square-foot tiny house sits just outside their Santa Fe workshop. Fischer says it already sold for $80,000.

Like anything else, to reduce the cost of housing, you need to increase supply. Fischer says many zoning regulations prevent the construction of high-density housing.

“There is zoning that’s creating problems that limit us from building casitas, from doing smart density, from doing fourplexes and duplexes, and finding other ways of smart, beautiful, character-rich urban living,” said Fischer.

Fischer says he is already seeing some positive changes in New Mexico. He says Albuquerque’s new zoning code is a step in the right direction, and he believes Santa Fe’s new administration is making affordable housing a priority.“We need to move really fast and create bold solutions,” said Fischer. “A big part of that is going to be political will. It’s our mayors and our city councilors and representative saying, ‘we’re making changes and not all of them are going to be popular but we have to do this for the good of everyone,’" said Fischer.

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$2.7 Million Homes in Massachusetts, Idaho and New Mexico

Concord, Mass.

WHAT A house with six bedrooms and five and a half bathrooms

HOW MUCH $2.699 million

SIZE 5,467 square feet

PRICE PER SQUARE FOOT $494

SETTING This 1860 home, a former setting of a school for young children, is on the edge of Concord’s historic district, a 10-minute walk from the center of town and less than an hour northwest of Boston.

INDOORS A builder who acquired the house in 2004 performed a gut renovation, adding a large mudroom and an attached two-car garage with an upstairs bonus room. The current owners bought the property in 2012 and chose the lively wall colors.

The front door, which retains the push-bar on the inside from schoolhouse days, opens to a center hall. On the right is a burgundy-colored living and dining room with bay windows and decorative columns. On the left is a lavender parlor, formerly used as a faculty lounge, that serves as an office. The large kitchen flows into a second dining room and a family room with a fireplace; all are painted spring green.

Upstairs, the bay-windowed master suite has walk-in closets, a sitting room and a bathroom with marble flooring. Three additional bedrooms and two bathrooms are on the second floor; two bedrooms, a playroom and a bathroom are on the third floor.

The finished space under the gabled garage roof has a stone fireplace and a full bathroom.

OUTDOOR SPACE Sliding doors from the family room lead to a new stone patio and a fenced yard. The house sits on more than half an acre.

TAXES $28,810

CONTACT Sharon Mendosa, Mendosa-Balboni Team, Engel & Völkers, 978-580-0386; concord.evusa.com

David Fish/Blu Fish Photography
Boise, Idaho

WHAT A medieval-style castle with five bedrooms, five full bathrooms, two half bathrooms and a suit of armor

HOW MUCH $2.675 million (Bitcoin is accepted)

SIZE 5,845 square feet

PRICE PER SQUARE FOOT $458

SETTING Completed in 2011, the castle is in the East End neighborhood of Boise, on a street where houses have historically been warmed by underground hot springs. It is about two miles southeast of the Idaho state capitol building; downtown is visible from the crenelated roof. The building is made of sandstone, 90 percent of it quarried locally.

INDOORS Passing under a fixed iron portcullis, and pushing open a 220-pound door, one enters a foyer with a full suit of plate mail standing in a niche. (The armor goes by the name George and comes with the house.) The surrounding rooms have reclaimed hardwood floors and beams, plaster walls and a thoroughgoing baronial vibe. The living room fireplace is massive; the circular dining room befits a King Arthur-style table; and the gourmet kitchen has its own kitchen (a butler’s pantry with an island, a refrigerator and a copper sink). All of the floors have radiant heat.

The entire level upstairs is taken up by a master suite that includes a bedroom with leather walls and a fireplace; a walk-in closet; a bathroom with a plunge tub, steam room and shower room; an exercise room; a home theater with a wet bar; and an office.

Two additional bedrooms and bathrooms, as well as a second theater and a wine cellar, are on the first level, below the main floor. The top, or fourth, level has a roof deck. An elevator operates between all four floors, but you can also walk the 76 steps in the main tower.

A three-car garage that is attached to the house by a breezeway (downstairs) and a catwalk (upstairs) has a one-bedroom apartment with a full-size kitchen, living area and bathroom.

OUTDOOR SPACE The building sits on .37 acre and has a large stone patio in the backyard. The multilevel roof terrace, which can be lighted at night with flaming torches, includes an outdoor kitchen, a firepit, a bar, a jetted tub, a dragon fountain and a greenhouse.

TAXES $19,977 (2017)

CONTACT Missy Coman, Group One Sotheby’s International Realty, 208-484-8617; sothebysrealty.com

Ed Macias
Abiquiú, N.M.

WHAT A 58-acre riverfront complex built in 1996 with a two-bedroom main house, a guesthouse with two units and a vineyard

HOW MUCH $2.7 million

SIZE 3,325 square feet

PRICE PER SQUARE FOOT $812

SETTING The property is a mile and a half northeast of Abiquiú, a tiny place whose most famous resident was the artist Georgia O’Keeffe. It is about two hours by car from the Albuquerque airport and about an hour from Santa Fe.

INDOORS The main house has 16-inch-thick walls of Pumice-Crete, concrete floors, a metal roof with skylights and a screened porch. The central living area has pine cabinets and beams, a fireplace whose chimney rises to the top of the vaulted ceiling and an open kitchen with a white-quartz-topped peninsula. A dining room is off to the side.

This level also has a bedroom with a walk-in closet, a full bathroom and a powder room. A second bedroom and a study are upstairs in a loft-like space with a balcony overlooking the main floor.

A separate guesthouse shaded by a long veranda has two casitas, each with a private entrance, a full bathroom with Mexican tile and a wood-burning fireplace.

OUTDOOR SPACE In addition to the vineyard with its more than 6,000 vines, the property has strawberry and asparagus plants, alfalfa fields, a cottonwood grove, lines of poplar trees, flower gardens and a chicken coop. The Chama River runs along the border.

TAXES $7,229

CONTACT Emery or Dolores Maez, Keller Williams Realty, 505-469-0546; kw.com

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NM unemployment, air traffic and more in ABQ Business First Deep Dive Economy – Albuquerque Business First

Unemployment is down. Personal income is up. Airport passengers are up.

Our quarterly Deep Dive Economy report takes a closer look at several economic indicators in New Mexico that show how the state is faring financially.

This updated review of the state’s economy measures the latest trends in employment, personal income, housing, airport travel, hotel occupancy and agriculture. See the charts below to view the data for fourth quarter 2017, and check out our Deep Dive Economy feature on why New Mexico fared so poorly in U.S. News & World Report’s Best States ranking.

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Our quarterly Deep Dive Economy report takes a closer look at several economic indicators in New Mexico that show how the state is faring financially.

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Price Land & Development Group buying 10 acres of Mariposa is ABQ Business First Deal of the Week – Albuquerque Business First

The skinny

Mariposa, a master-planned community on the outskirts of Rio Rancho, is launching its next phase with a local developer.

The numbers

New Mexico-based Price Land & Development Group has purchased 10 acres of the Mariposa Master Planned Community. The purchase price was not immediately disclosed. Homes in Mariposa range from about 1,500 square feet to 4,500 square feet and from the low $200,000s to the $400,000s.

The details

Price Land & Development plans to build 41 homes to comprise the Jemez Vista neighborhood as part of the 6,500-acre Mariposa Master Planned Community.

What’s next

Price Land & Development plans to prepare the 41 lots for two local homebuilders, who were not immediately named, to begin work in September.

Why it’s significant

Mariposa East was a victim of the recession when the original developer — High Desert Investment Corp. — stopped work there in 2012. That left residents with a potentially huge increase in tax payments toward $16 million in bond debt that High Desert incurred for the installation of a water treatment system. Lawyers representing Mariposa later outlined a bond restructuring plan to lessen the blow, and activity slowly began to return to the community. Arizona-based Harvard Investments bought Mariposa East, where a community center had gone into foreclosure, in 2014. Mariposa’s a sizable planned community, so the new local developer will be closely watched as it moves the project into the next phase.

More about Harvard Investments

It’s the US subsidiary of The Hill Cos., a family-owned company based in western Canada. The Hill Cos. has roots that go back to 1903, when it specialized in real estate development and insurance.

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Kindness spread to Albuquerque, New Mexico a Local Chapter Begin

The Gift Of A Helping Hand Charitable Trust
Cathy P Russell
(313) 282-9476
helpinghand2002@hotmail.com
https://www.tgoahhct.org

The Gift Of A Helping Hand Charitable Trust set up additional New Chapter in partnership with Prosper and Be In Health Inc., Albuquerque, New Mexico to help assist the less fortunate and be a voice. Our vision is to set cup Chapters all around the globe.

FOR IMMEDIATE RELEASE

Detroit. Michigan, March 30, 2018{City, – The Gift Of A Helping Hand Charitable Trust vision is to set up Chapters under the umbrella of the organization all across the United States and all around the world to unite in peace, unity and spread kindness worldwide.

Since 2002, The Gift Of A Hand Charitable Trust provides safe and affordable housing for Veterans, Domestic Violence Survivors and their children and homeless women and their children. We Foster technology, health education, career and financial educational training computer classes for economically disadvantaged youth’s, girls, women, Veterans, domestic violence survivors and underprivileged individuals in helping them to become self-sufficiency and learn the skills for career advancement. In addition, we provide basic needs and care packages to thousands of families and individuals all around the world requesting our assistance during these challenging times. The Chapter Foster awareness and empowering women, and girls all around the world.

Cathy P Russell said, "Let us unite by spreading kindness, compassion and empathy all around the world. Starting a Chapter is rewarding , a voice and a blessing to the less fortunate. She is proud to be able to form Chapters under the umbrella of The Gift Of A Helping Hand Charitable Trust in the U.S. and other countries."

Cathy P Russell is proud to be working in partnership with Frederick Esters, CEO and Founder of Prosper and Be In Health Inc. in changing and inspiring the life’s of the less fortunate in Albuquerque, New Mexico and all around the world.

The Gift Of A Helping Hand Charitable Trust welcome all States and countries to come on board and Start A Chapter under our agency in your State or country to help assist the less fortunate. To Start A Chapter in your State or country go to www.tgoahhct.org and click on the link Chapter and apply online. Help changing the life of others is the greatest gift you can give. Being a Voice for those who can not be a Voice for themselves. Start A Chapter in your State or country and help bring unity and peace back into the world.

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