First Speaker; Mr. Steve Bottfeld www.BottfeldReport.com.

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Presentation transcript:

First Speaker; Mr. Steve Bottfeld

TWO OBJECTIVES PUT HOUSING STATISTICS IN PERSPECTIVE BY ASKING THE RIGHT QUESTION PUT HOUSING STATISTICS IN PERSPECTIVE BY ASKING THE RIGHT QUESTION SHOW YOU A NEW MAJOR DEMOGRAPHIC TREND AFFECTING YOUR MARKET. SHOW YOU A NEW MAJOR DEMOGRAPHIC TREND AFFECTING YOUR MARKET.

IN-MIGRATION ARIZONA, ARIZONA, FLORIDAFLORIDA NEW YORK-NEW JERSEYNEW YORK-NEW JERSEY NEVADA, TEXASNEVADA, TEXAS

CHANGING! Median Prices Median Prices Duke CityDuke City $183,990- $229,000$183,990- $229,000

PRICE COMPARISON

SALESTRAQ TM Of New Mexico New Home Base Price Stats Albuquerque / Rio Rancho / Los Lunas David Murphy - Publisher

$231,839 $256,174 “Volterra” More than 10 new subdivisions added

Current Average & Median for “Volterra” subdivision: * NEW HOME BROCHURE BASE ASKING PRICE Base price average = $282,354 Base price median = $265,990 Average square feet = 2,299 sq. ft. Median square feet = 2,242 sq. ft.

Reminder – the price fluctuations in Albuquerque have much to do with product.

Hurricane Katrina Buyer’s Market! Peak demand

What have been the lowest new home prices historically?

$112,990 $74,990 $155,990 $69,990 $119,990

Total number of homes (Supply ) SOURCES: Southwest MLS / Albuquerque Metropolitan Board of Realtors (Resale) and SalesTraq of New Mexico (New) Light gray represents resale units which sold Dark gray represents new home “menu”