RISMEDIA, July 30, 2010--The economy is stabilizing. Home prices are holding. It's not just as good a time as ever to buy a house. It's one of the best times ever.


1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system – and this is just the opportunity that owners of many desirable properties have been waiting for.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines...again. Now that appraisers have more flexibility to set values that reflect the current market, today's deals will make it over the finish line.

5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by "workforce housing" programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.

Make your plans now for Albuquerque's Salsa Fiesta.  On Aug. 14, Old Town will come alive with salsa music, salsa dancing, and a homemade salsa cook-off.  Homemade Salsa Competition contestants will compete for a $1,000 first prize.  Salsa bands and dancers will perform throughout Old Town. The fun culminates with musical headliner 8 y Mas.  Join us for a hot time of music, food, and fun!

http://www.cabq.gov/crs/salsafiesta.html

Home sales in the Greater Albuquerque Market areas are up over 20% from 2nd quarter last year, but home prices continue to fall.

Knowing the our area's absorption rate helps to track trends. Understanding the market and where it's headed.

The number of weeks it takes to sell the current inventory at the present rate of sales = the absorption rate.

Sellers Market 1-4

Neutral Market 5-6

Buyers Market Greater than 7

  6/09  through 6/10

Because of strife in Greece, Spain and North Korea, conforming mortgage rates are back to all-time lows. They're at levels not seen in 50 years.  For homeowners that missed the Refi Boom of November 2009, it's a second chance.

In this well-presented, 3-minute video from NBC's The Today Show, you'll get tips getting low rates and choosing the best time to lock in.

Some of the topics covered include:

• Why were the experts wrong about rates moving higher this summer?
• How much money can you save with a 1 point drop in your interest rate?
• Should you buy a bigger home now that rates have fallen?

The advice in the piece is matter-of-fact and centered.  There is no cheerleading and the message is honest. Mortgage rates are low and they likely won't stay that way.  If you've been thinking about a refinance, talk to your loan officer as soon as possible.

Corrales Growers' Market features New Mexico grown, fresh produce; greens,vegetables herbs, fruits, as well as flowers, honey, jams, baked goods, salsas and New Mexico grown agricultural products. The Sunday Market offers breakfast burritos from local hero Chef Jim White, a Market Shop, and special events throughout the season.

The Wednesday Market gives customers an opportunity to bring home something very fresh for dinner in the middle of the week. The Growers' Market is a primary way to support local agriculture, and in the village of Corrales it helps to maintain traditional agricultural practices and a way of life with a long history in this location.

This year the village will be holding many special events and celebrations on Sundays, such as Art in the Park, Sundays in Corrales and Carnival of the Arts, so a visit to the Corrales Growers' Market can be the start of a full day of family fun and interest. As always, the freshest locally grown goods in a beautiful setting - well worth the trip.

600 Jones Rd.

Corrales Road to Jones Road then West.

THINK SPRING!

The clocks have "sprung" ahead, baseball training is underway and here at HWA we all have one thing on our minds – SPRING!

Along with all the fun Spring brings, there's also a lot of work to do. Spring is the best time to clean, organize and update your home.

Check Out Your Home's Equipment