BANK OF AMERICA TO HELP BORROWERS

Bank of America is going to forgive up to 30% of some customers' home loans to help troubled homeowners. it will start forgiving principal for those who owe more than 120% of their home'svalue. It is to begin in May.

So if you think you qualify, CALL ME and I will do a free market analysis.

Home Sales up in ABQ New Mexico

And like most areas, the prices are still hovering in the low range. I did read that California prices are starting to come up which shows that the higher end houses are starting to sell so is pushing the average up. Here in ABQ, I personally am seeing many more buyers and have 6 closings this month including one half a million dollar home. It had been on the market for 18 months. The buyers seem to be young working couples looking forward to building a home and a family. They have good credit scores and good incomes from two salaries. I do think we have hit bottom in the housing market.

New Lead Based Paint Remodeling Rule

Lead-Safe RemodelingU.S. Environmental Protection Agency rules taking effect April 22 require remodeling work on homes built before 1978 to be undertaken only by contractors certified by the agency in lead-safe practices. ( An EPA-certified contractor isn't necessary if the work doesn't disturb the paint, but that can be hard to know up front. ) The National Association of the Remodeling Industry recommends that home owners assume lead is present if their home was built before 1978 unless they've had it tested and found it lead-free. Certified remodelers are required to display their EPA - certified training certificate to home owners. For a compliance guide,search for "lead paint renovation rule" at www.realtor.org.

NM Homes Sales Buck National Trend

New Mexico is bucking a national trend by posting a tremendous jump in sales of previously owned homes in January compared to a sharp dropoff across the country. The ABQ metro area's pending sales bounced up 55% in jan to 740 compared to December's 476 and jumped 30% from a year ago. New listings also shot up to 1,43 from a 12 month low returning to a norm of 1483 listings. We're Baaack! I know my sales have skyrocketed so call me if you want to buy or sell. It's a good time for both.