It's official!Marvel's The Avengers is in pre-production and will be shooting in New Mexico through 2011.While industry estimates vary, the production expenditure is projected to be at least $140 million dollars, making it the largest shoot in the history of New Mexico film.Productions of this size have a significant impact on our economy. They hire New Mexico crew, use our production services, and cast our talent. They stay at our hotels and furnished homes, eat our food, and shoot our locations. For several thousand individuals and hundreds of businesses, the economic impact is significant and evidence of how critical film has become to the New Mexico economy.
Thanks to Crew New Mexico for that announcement. And what a great time to buy a home if you are one of those on the crew for that film. Call me and I'll tell you about ABQ and show you some homes. Unlike California, we didn't go through a boom to bust so prices are great and home prices stable for the last six months. Call me at 505-220-9193.
Wednesday, December 29, 2010
Tuesday, December 21, 2010
New Mexico to Lead Job Growth
The jobs outlook is not rosy anywhere, but Moody's is projecting New Mexico to lead the nation in job growth over the next year with 2.6% increase. Click this link to see the story and interactive map:
http://www.usatoday.com/money/economy/2009-02-06-new-jobs-growth-graphic_N.htm
http://www.usatoday.com/money/economy/2009-02-06-new-jobs-growth-graphic_N.htm
Friday, December 10, 2010
Mortgage Rates Inching Up
This just in from the Wall Street Journal: Mortgage rates rose again last week to their highest level since July.
The 30-year fixed-rate mortgage averaged 4.66% last week, up from 4.56% two weeks ago. That’s still below the year-to-date average of 4.74%, but it’s up from a low of 4.21% in October.
Rising rates are likely to further crimp refinance activity, which was down 1% for the week and down 8% from year-earlier levels.
But rising rates could encourage some fence-sitting buyers to close deals, and home-purchase mortgage applications jumped by nearly 2% last week, sending activity to its highest level since May.
Rates are closely tied to the 10-year Treasury, which has been on the rise over the past few weeks and jumped in recent days after the tax-cut compromise struck by the White House and congressional Republicans.
The 30-year fixed-rate mortgage averaged 4.66% last week, up from 4.56% two weeks ago. That’s still below the year-to-date average of 4.74%, but it’s up from a low of 4.21% in October.
Rising rates are likely to further crimp refinance activity, which was down 1% for the week and down 8% from year-earlier levels.
But rising rates could encourage some fence-sitting buyers to close deals, and home-purchase mortgage applications jumped by nearly 2% last week, sending activity to its highest level since May.
Rates are closely tied to the 10-year Treasury, which has been on the rise over the past few weeks and jumped in recent days after the tax-cut compromise struck by the White House and congressional Republicans.
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