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Recent Blog Posts by Brandon Wells

State Offers Assistance To First-Time Homebuyers

SANTA FE -- First-time homebuyers can find new financial assistance from the state and federal government.Gov. Bill Richardson and the New Mexico Mortgage Finance Authority announced a loan program Tuesday that will help lower-and middle-income New Mexicans make a down payment in buying their first house.The program takes advantage of a tax credit that was created as part of the federal economic stimulus ...
Posted by Brandon Wells @ 5:24 PM on 03/31/2009
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Signet Solar Bringing Jobs to Albuquerque

SANTA FE-Governor Bill Richardson announced Signet Solar will build the company's first North American solar panel production facility in Belen. The first phase of the plant will bring 200 high-wage jobs to the state and is scheduled to begin operations in 2010. Signet's long-term plans call for expansion and the creation of a total of 600 jobs."As Governor, I've been dedicated to making New Mexico ...
Posted by Brandon Wells @ 4:03 PM on 01/26/2009
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Eclipse Aviation Files Chapter 11

Eclipse Aviation Corp. has filed for Chapter 11 protection in the U.S. Bankruptcy Court in Delaware.The Albuquerque-based maker of Eclipse 500 very light jets is seeking court approval for debtor-in-possession (DIP) financing and procedures for the sale of substantially all of its assets under Section 363 of the U.S. Bankruptcy Code.Eclipse also announced an agreement to sell its assets for a ...
Posted by Brandon Wells @ 11:58 AM on 11/26/2008
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New Mexico Mortgages Retain Equity

New Mexico is ranked in the nation’s top 10 for home mortgage equity, according to a survey that uses negative equity as its key metric.Just 8.2 percent of New Mexico’s 186,844 mortgages were showing negative equity at the end of September.The survey, conducted by First American CoreLogic, shows New Mexico had the eighth lowest negative equity among the 50 states. Nevada at 47.8 percent and Michigan ...
Posted by Brandon Wells @ 1:49 PM on 11/04/2008
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Greater Albuquerque Association of Realtors (3rd Quarter Statistics)

The Greater Albuquerque Association of Realtors (GAAR) has just posted the 3rd quarter statistics.  If you own a home in or around the Albuquerque you will find this report very informative and helpful in determining the current market climate in your area.                                       ...
Posted by Brandon Wells @ 2:12 PM on 10/16/2008
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FHA Responds To Buy & Bail Transactions

FHA Responds To Buy & Bail TransactionsTo address increasing occurrences of the practice known as "buy and bail," FHA has issued Mortgagee Letter 08-25 - Converting Existing Homes to Rentals - Underwriting Instructions. FHA is instituting the following requirements for borrowers who purchase a new primary residence without selling their existing primary residence. The term "buy and bail" refers ...
Posted by Brandon Wells @ 12:15 PM on 10/09/2008
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Albuquerque Avoids Real Estate Rollercoaster

The stories are plentiful: A California home listed at $7 million finally sells for $3.5. A Florida developer auctions off his completed but vacant condominiums at cost. Family homes sit on the market for months, bearing unrealistic bubble-era price tags.But according to research done by Avi Shama, a professor at the Anderson School of Management at the University of New Mexico, in the Albuquerque ...
Posted by Brandon Wells @ 3:14 PM on 09/11/2008
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Where Home Prices Are Likely To Rise

Believe it or not, in the future people will be buying and selling homes. Some of them will even make a profit.It's not so crazy an idea. Consider Albuquerque, N.M. The mid-sized Southwestern city has experienced housing price declines since a peak in the third quarter of 2007, job growth has been flat, and housing starts are expected to fade by 45% through the end of 2008. Nevertheless, it's a city ...
Posted by Brandon Wells @ 2:41 PM on 09/11/2008
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