First Speaker; Mr. Steve Bottfeld BottfeldReport
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Transcript of First Speaker; Mr. Steve Bottfeld BottfeldReport
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First Speaker;
Mr. Steve Bottfeld
www.BottfeldReport.com
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TWO OBJECTIVESPUT HOUSING STATISTICS IN PUT HOUSING STATISTICS IN PERSPECTIVE BY PERSPECTIVE BY ASKING THE ASKING THE
RIGHT QUESTIONRIGHT QUESTIONSHOW YOU SHOW YOU A NEWA NEW MAJOR MAJOR
DEMOGRAPHIC TREND DEMOGRAPHIC TREND AFFECTING YOUR MARKETAFFECTING YOUR MARKET..
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IN-MIGRATION•
ARIZONA, ARIZONA, •FLORIDAFLORIDA
•NEW YORK-NEW NEW YORK-NEW JERSEYJERSEY
•NEVADA, TEXASNEVADA, TEXAS
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CHANGING!•
Median PricesMedian Prices•Duke CityDuke City•$183,990-$183,990-$229,000 $229,000
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PRICE COMPARISON
0
50
100
150
200
250
300
350
S O N D J F M A M J J A S
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PRICE COMPARISON
0
50
100
150
200
250
300
350
S O N D J F M A M J J A S
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SALESTRAQTM
Of New Mexico
New Home Base Price Stats
Albuquerque / Rio Rancho / Los Lunas
David Murphy - Publisher
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$180,000
$190,000
$200,000
$210,000
$220,000
$230,000
$240,000
$250,000
$260,000
Base(brochure)
PriceDec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Month
ALBUQUERQUE 2005/2006 "Average" &"Median" New Home Base Price Comparisons
(12 month perspective - Single Family Homes)
Average
Median
$231,839$231,839
$256,174“Volterra”More than 10 new subdivisions added
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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.
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Reminder – the price fluctuations in Albuquerque
have much to do with product.
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10
20
30
40
50
60
Nu
mb
ero
f ac
tive
Su
bd
ivis
ion
s
D J F M A M J J A S O N D J F M A M J J A S O N
Month
Quantity of subdivisions in Albuquerque:
24 month perspective (Dec. 2004 - Nov. 2006)
Hurricane Katrina
Buyer’s Market!
Peak demand
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What have been the lowest new home prices
historically?
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$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
Base(brochure)
Price
Nov.2000
Nov.2001
Nov.2002
Nov.2003
Nov.2004
Nov.2005
Nov.2006
2000 to 2006 Albuquerque / Rio Rancho / Los Lunas "lowest" base price point (7-year comparison)
(Single Family Homes)
ABQ
RR
LL
$112,990
$74,990$74,990
$155,990
$69,990
$119,990
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0
100
200
300
400
500
600
700
$1-$99,999 $100K-$199,999
$200K-$299,999
$300K-$399,999
$400K-$499,999
$500K-$999,999
$1,000,000+
Price Range (Demand)
METROPOLITAN PRICE RANGESupply & Demand (Nov. 2005)(Single Family Homes / ABQ, RR, Bernalillo & Los Lunas combined)
Purchased Resale
New price "menu"T
ota
l nu
mb
er o
f h
om
es (
Su
pp
ly )
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”
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