STRONGER HOUSING SALES IN ABQ

Several Reports Point to Stronger Housing:Existing home sales shot up 10.1% in October and reached the highest level in 2 ½ years, according to the National Association of Realtors. They also reported that the national median home price had the smallest decline in over a year.New home sales jump 6.2%, to reach their highest level in over one year. The U.S. Commerce Department reported that new home sales hit annual rate of 430K with the strongest sales coming from the South. I reported last week that new home starts were down. This bodes well for home prices if inventory is being reduced and demand is increasing. Call me if you'd like to buy here!!!

BACK FROM AFRICA

Sorry to have been gone abit, but I was in South Africa working on a USAID project in Zimbabwe. I have been working on it for five years and looks like it will be renewed for another three and extended into Kenya, possibly Ethiopia. Being in rural Africa is a sobering experience and makes me realize how self-indulgent and materialistic we Americans are. They have nothing and are happy and hopeful. We have everything and are neurotic and cynical.

Although I love film and television, it is disheartening to see how we have distorted values throughout the world. Our TV shows are popular there; everyone with a TV knows about Oprah and American Idol. Our movies are bootlegged on to bad DVD discs and watched there too. Our tendency for violence supports their lifestyle rather than encouraging any kind of evolution towards more peaceful conflict resolutions. We have through our films supported women in taking power in abusive relationships. I look forward to Invictus which will celebrate what Africa can do under inspired leadership and teamwork.

Filming to Ramp up in New Mexico

Filming has been rather quiet here for a couple of months but things will start up soon. Two motion picture projects and the third season of a TV series will be made soon. "Due Date" starring Robert Downey, Fr as a father-to-be will shoot in the Fall. "Passion Play" starring Mickey Rourke will also film here. One of our favorite TV series "In Plain Sight" will film starting in January. And then there is our pride and joy, "Breaking Bad." So I would love to be a fly on the wall while Robert Downey, Mickey Rourke and Cranston have a few beers downtown!!

NEW SANTA FE STUDIO

The City Different --- Santa Fe --- has allocated $6 million to the developers of a new studio in Santa Fe. The negotiations have been in the works for awhile and now has been worked out. Watch out Hollywood!!

NEW HOME SALES UP IN ABQ

This commentary by David Murphy who tracks new home sales: By now you’ve no doubt seen on the news and read reports in the media that the housing market is beginning to turn around; the last few years of decline are nearly over. (Not the first time you’ve encountered that opinion over the course of this recession either). But this time around, it seems to be for real. Pending existing home sales are up substantially, new home sales are at their highest level in a year, and mortgage interest rates remain at historic lows to attract home buyers. Indeed, even in the local Albuquerque metropolitan housing market, positive signs are evident both in new and resale data. On the new home side, an ever-growing array of smaller more affordable floor plans, coupled with government subsidies to first time homebuyers to the tune of $8,000.00, are fueling sales - especially in the below $200,000 price range. On the resale side, the local Greater Albuquerque Association of Realtors’ statistics show increased sales month-over-month for all of 2009 so far, as well as lower inventory levels compared to last year. The positive data is there and cannot be denied.

MORTGAGE RATES AT 3 MONTH LOW

Long term mortgage rates dropped again this week, ending at an average of 5.12% down from 5.29%. The new rates were the lowest in nearly three months. Great time to buy. Just Call Judy.

NM TOP PLACES TO FILM

Variety magazine, which all of us from LA know intimately, hasw ranked NM the third best place to film right behing LA and New York. The survey was of film industry professionals and will published in October. It means that if a film company wants to leave Hollywood, NM is the first choice. The monetary incentives offered here have really helped plus we have new studios and lots more local resources. Of course, now other cities and countries are mimicing us and trying to get that market, but who can compete with our weather and beauty. We offer a 25% rebate while Alaska offers 44%. Big difference in environment though. Movie Maker magazine name ABQ the second-greatest city to live, work and make movies in 2008. Well, ya'all come on now, ya hear????