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2009 Across the country, home sales have been down, foreclosures up, and potential buyers scared off since the recession. But Realtors in New Mexico who gathered in Albuquerque Friday to talk about the future of the real estate market said things are looking up. National expert Dr. Lawrence Yun said New Mexico is actually a bright spot when it comes to the real estate market. "New Mexico never had the bubble, so there was nothing to bust," Yun said. While the real estate market hasn't been as bad in New Mexico as it has been in other parts of the country, Realtors said times have still been tough. "We see the cycles come and go. We expect the cycles to come and go, so for us, the experienced agents in Albuquerque, we were kind of prepared for it," Realtor Don Padilla said. "We just weren't prepared for the prolonged part of it." Even those who have been realtors for 20 or 25 years said they felt the downturn at the end of last year. "It's been more difficult to do business," Realtor George Lowes said. Lowes said he started to get fewer calls from people looking to buy homes. In fact, he said at times the phone wasn't ringing at all. "It got very quiet toward the end of last year," Lowes said. "Then the interest rates started going down; we saw in January the phones started ringing, and they're continuing to ring." Yun predicted that trend will continue. "I think it will be a better second half than last year, and then I think that momentum will build into 2010," Yun said. Yun actually predicted a 20 percent rise in home sales in the second half of 2009, compared to 2008. The reasons: the lowest mortgage rates in 60 years, the $8,000 tax credit available to first-time home buyers, and increased consumer confidence.

Housing numbers not all gloom KQRE Reporter: Kim Vallez and Web Producer: Bill Diven ALBUQUERQUE (KRQE) - Nationwide home sales numbers released recently showed their worst posting on record although NM Realtors are reporting signs of hope. In Jan home buyers in the Albuquerque metro area could choose from among 5,309 homes and 616 townhomes. That translated into 9 homes for every buyer out there looking. Of those 5,309 homes for sale, 324 sold with an average selling price was $214,872. Despite the gloom numbers, George Lowes, president of the RANM, said he recently attended a meeting with Realtors from across the area. CA and NV realtors reported an increase in home sales, he said. "Prices are down to more affordable level so I think we're going to have more people getting into the market," Lowes told KRQE News 13. Lowes also saw some positives in the numbers. Pending sales jumped by 19.7 percent, something Lowes said shows there are many buyers out there who just need the money to buy. If lending frees up, the market could see a big turnaround very quickly, he said. Another positive: home prices in some areas like Rio Rancho increased last month by 2.9 percent. Lowes said these numbers show it is definitely a buyers' market. That means buyers are very picky and think they can get a better deal than the advertised price. "Most every buyer, unless they realize this house they absolutely have to have, then they're going to come in and lowball the house," he said. The way a seller can stand out is to provide the cleanest, most up-to-date house at the best price, Lowes added. And right now price is the driving factor, he said. Also Lt. Gov. Diane Denish announce a plan being handle by the New Mexico Finance Authority to help stimulate the state housing market. It includes money to help first-time home buyers, assistance for qualifying teachers, public safety and health care workers and active-duty military personnel.

I just completed a tour of all the model homes at Jubilee in Los Lunas yesterday and thought I would share with you that their standing inventory is down to five homes! Prices range on those homes from $159,900 to only $219,900! Jubilee in case you didn't know is an "active-adult" gated community. From their brochure - Breathtaking views (yep), friendly active neighbors (yep - and they can probably run circles around me), and incomparable weather are just a few benefits that you will discover at Jubilee. Our private gated community offers a wide choice of affordable high quality homes designed especially for active adults. Surrounding these stunning homes are miles of open space and walking trails that wind through El Cerro de Los Lunas, the mountain which serves as the community's backdrop. If you would like me send you more info on this gorgeous area (right off of historic Rt66), I can scan the floor plans and email to you! Tonya 505-264-7941

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