Parade of Homes

The balloons are gone.  They have floated away until next year so that means get your footies on, its the Homes of Enchantment Parade. Quick!  Sock check!  October 11 thru the 26th make sure you don’t have your Swiss cheese socks on!  It can be a bit embarrassing when removing your shoes to tour the homes on parade!  All the parade homes have been spiffed and shined and they all require those cute (?) or not so cute booties that we are used to seeing in the surgical suites at the hospital. In the Parade prices range from $168,500 to $4 million!  (Wow imagine the payments on that one!)  Just a few short years ago we could count on one hand the number of homes over a million.  Last time I checked there were 68 in the MLS. If you like architecture and seeing all the newest and best of everything, get those booties on and shake your booty to the Parade of Homes.

Tags: Albuquerque, parade of homes

OK I just wanted to brag a little bit on my real estate site:  www.AlbuquerqueNMRealty.com

It seems as though I’m number 1 on a google search for East Mountain Properties in NM.   I feel pretty good about that as 67% of searches use google so it truly is the standard by which we judge.  I’ve been in this 12 week internet marketing class and experiencing first hand all the work this takes!  My RE site is not made from scratch like my UFirst site:  EraseYourMortgageDebt.com Thanks to Brooke Barnett for taking the time to teach all of us illiterate non-techies just what it means to get google and alexa rated on the internet!

I have to confess though that I have tweaked and re tweaked my website for 3 weeks now.  It has become a great vacuum to which a lot of my time is going!  Please send me your comments!

Tags: east mountain properties, NM

Say goodbye to all those beautiful balloons until next year!  It was a somewhat dreary end to the fiesta this year as the last weekend flights were cancelled due to weather.  Friday night’s balloon glow was also cancelled due to winds but the worst news of the fiesta was went a balloon went down early Friday morning killing the pilot when it hit power lines and ignited.  The passenger remained in critical care several days later.

But on a cheerier note, it happens ever year;  someone pops the question floating above the crowds.  Better yet every year someone actually ties the knot while floating overhead.  I can’t quite imagine all that preparation: hair, gown, makeup, hose, garter, something borrowed, something blue, before 6 in the morning!  And then to have it ruined as soon as you hop into the balloon!  Speaking of hopping into the balloon, exactly how does one do it in a wedding gown?

However this year rumor has it that a gentlemen hired 2 ballons, one for his lady friend and one for himself.  On his balloon he had a banner proposing marriage to the lucky lady.   Again rumor has it she said no and landed never to be heard from again!

Mark your calenders for next year’s Albuquerque International Balloon Fiesta on October 3, 2009.  We’ll put in our order for better weather early and be sure and put your reservations early as this town fills up!

Tags: Albuquerque, balloon, fiesta, international

News from the Feds hot off the press regarding loan limits.

The Federal Housing Finance Authority (FHFA), will announce 2009 conforming loan limits for Fannie Mae and Freddie Mac by November 7.  The limits will define the maximum loan size of mortgages that can be purchased.

Under Housing and Economic Recovery Act of 2008 , (HERA )passed July 2008, the FHFA was directed to set conforming loan limits each year for the nation as well as for high cost areas.  The rules governing how the loan limits are established differ from the rules set forth in the Economic Stimulus Act of 2008, (ESA) which applies to loans originated in 2008.  Under ESA loan limits for high cost areas were set at 125 percent of local house price medians and the maximum high cost limit was 175 percent of the nation conforming limit ($729,750 in the continental US).  Under HERA, the high cost area loan limits are 115 percent of local price medians up to a maximun of 150 percent of the national limit.  In 2009, if the national limit remains at $417,000 for one unit properties, the max limit in high cost areas would be $625,000 for the continental US.

To determine high cost area limits under HERA for 2009, FHFA will use median home values estimated by the Federal Housing Administration (FHA) of the Department of Housing and Urban Development (HUD).  The FHA median prices will be calculated in the coming weeks by FHA for the purpose of determining its 2009 loan limits.  Information can be found here.

Tags: Fannie Mae, FHA, FHFA, Freddie Mac, HERA