Real Estate Information Archive


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Prices going up in Santa Fe

by Susan Orth

Updated at: 11/21/2008 07:09:20 AM

By: Eyewitness News 4

Home prices show upward trend in parts of NM

Foreclosures have also remained low across the state

Real estate experts say even though home prices in the

Albuquerque area and other parts of the state are lower than a year ago, they're not as bad as other parts in the country.

What's more, parts of New Mexico are seeing a surge in home prices, bucking the downward trend seen across America. "Here in New Mexico, the market is still very good," said David Kittle, chairman of the Mortgage Bankers Association.

Kittle said it's just a handful of states that are dragging the overall numbers down in the home market.

"If you take out seven states: California, Florida, Nevada, Arizona, Ohio, Indiana and Michigan, you've got 43 states out there that are still fairly stable in the mortgage market," Kittle said.

Kittle was in Albuquerque Thursday to speak about the nation's economic crisis and its impact on the mortgage industry. Industry experts said over the past year, home sales have dropped in Albuquerque by about 20 percent. That is compared to about 60 percent in some of the areas worst hit, like Nevada.

Kittle said this could be a very good time to own property if it is in the right location.

"If you're in Seattle, Wash., or Charlotte, N.C. right now, things are booming. Prices are up in Louisville, Ky., where I live, prices are flat to rising just a little bit," Kittle said.

Parts of New Mexico are also seeing the value of real estate go up. In places like Placitas, Artesia and Gallup, prices are said to be booming. In Santa Fe and Hobbs, prices are also going up.

John Snyder of the New Mexico Mortgage Lenders Association said Albuquerque isn't doing too badly either. (1 of 2) [11/21/2008 3:11:46 PM]

Posted at: 11/20/2008 03:59:14 PM


New Mexico Economy Expanding

by Susan Orth

ABC News Story; New Mexico Economy Expanding and NOT In Recession!

Majority of States Now in Recession

In March, 5 States Were in Recession; Now There are 27 With 14 More at Risk

ABC NEWS Business Unit

Oct. 21, 2008

What started out as a housing problem in a few states has now exploded into a full-fledged recession with a majority of states now in or dangerously close to recession.

What started as a recession in just a few states has now spread to 27 with another 14 states near recession, according to Mark Zandi,

chief economist and co-founder of Moody's

(ABC News Photo Illustration)

Just this weekend, President Bush's top economic advisor used the much-avoided word "recession" to describe the economies in some states.

"We are seeing what I think anyone would characterize as a recession in certain parts of the country," Edward P. Lazear,

chairman of the Council of Economic Advisers, said on CNN's "Late Edition."

Back in March, Mark Zandi, chief economist and co-founder of Moody's, said that only five states were in recession: Arizona, California, Florida, Michigan and Nevada.

Albuquerque Real Estate Market

by Susan Orth

Housing Predictor, which provides housing forecasts in 250 markets, has identified 10 markets where the regional economies are healthy and have strong potential for increasing prosperity.

These housing markets have bucked the national trend in 2008 and avoided the subprime crisis, the consultancy says.

Whatever the future holds for the housing market as a whole, Housing Predictor forecasts that these cities will continue to see steady, dependable growth.

Top cities and the percentage sales prices have increased so far in 2008.
  • Biloxi, Miss., 4.9 percent
  • Salem, Ore., 4.7 percent
  • Bismarck, N.D., 4.6 percent
  • Spokane, Wash., 4.4 percent
  • Yakima, Wash., 4.1 percent
  • Austin, Texas, 4.0 percent
  • Grand Junction, Colo., 4.0 percent
  • Fargo, N.D., 4.0 percent
  • Mobile, Ala., 3.9 percent
  • Albuquerque, N.M., 3.5 percent

Santa Fe Q3 sales 2008 v. 2007

by Susan Orth

Displaying blog entries 1-5 of 5

Contact Information

Susan Orth
City Different Realty
518 Old Santa Fe Trail #190
Santa Fe NM 87505