Office suites will cater to small-firm entrepreneurs – Albuquerque Journal

.......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........

We are targeting neighborhood-oriented services and offering efficient floor plans for the small-business entrepreneur, said Robert Kantor of Red Sky Realty, one of the owners of a 4,600-square-foot office building soon to be under construction. Spaces will range from 525 to 750 square feet at the new building, which will be at 2103 Golf Course Rd.

Well have about eight suites in the building, said co-developer David Soule, a local engineer with extensive experience in subdivision creation and a real estate investor. Soule places the valuation of the project, with land and construction costs, at $500,000.

A lot of commercial space just isnt ideal for many small-business owners, said Soule. A lot of the existing spaces (available for lease) are either too dated or too big or charge too much He said the size of the suites at the new official building in Rio Rancho makes them ideal for single operators like insurance agents, real estate sales agents, chiropractors or mom-and-pop retailers.

Soule called the area a key block, given its proximity to the nearby Cabezon master-plan housing community. Rio Rancho has a lot of rooftops, said Soule, gesturing to nearby homes whose residents presumably could be either potential tenants or future patrons.

Albuquerque architect Robert Ponto, who is also the projects general contractor, is overseeing construction. Financing was provided by Washington Federal.

The plan is to have construction finished by late May with expected occupancy by mid-June.

Lender Lucero lauded by NAHB

The National Association of Home Builders has named Diana Lucero, vice president of construction lending for New Mexico Bank & Trust in Albuquerque, its Associate of the Year. The award was given earlier this month during the associations International Builders Show in Orlando, Fla.

The award honors someone who has made outstanding contributions to a local, state and national homebuilding industry. Lucero has been an active associate member for many years, serving in leadership roles for her state and local home builders associations, as well as at the national level for NAHB. Most recently, she served as chairwoman for the NAHB Associates Committee (representing approximately 85,000 associates nationwide), and is currently the education committee chairwoman for the Home Builders Association of Central New Mexico and associate vice president for New Mexico Home Builders Association.

Diana should be commended for her incredible dedication to our industry, said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. Her contributions at both the national and local levels are truly impressive, and we are pleased to be able to recognize her for her years of hard work.

Diana is an amazing volunteer here at the HBA and we are grateful for her leadership both here in New Mexico and on a national level, said Scott Ashcraft, president of the Home Builders Association of Central New Mexico. She is our shining star.

Housing organizations: Things are looking up

Leaders from four statewide housing organizations told an overflow crowd at the Roundhouse that things are looking up for New Mexicos housing industry. Officials said 2016 was the best year for home sales, affordable housing and real estate-related industries since 2008. We know that, when the housing market is strong, things are better for New Mexico and its families, said Lt. Gov. John Sanchez, who addressed the audience. Thanks to a recovering market and strong programs, in 2016, a record number of families moved into quality homes that they could afford over the long term places where their children can grow and their families can thrive.

Some snapshots:

Steve Anaya of the Realtors Association of New Mexico said that 19,933 homes were sold in New Mexico in 2016. It is the highest number reported since 2008 and 6.4 percent higher than 2015, he said. In addition, the median home price rose to $185,000, which is almost to the pre-recession level.

John Garcia, executive vice president of the Homebuilders Association of Central New Mexico, said that, since the state Legislature implemented the Sustainable Building Tax Credit in 2007, 2,981 energy-efficient homes have been built in New Mexico. New Mexico is now considered one of the top green-built states in the country, Garcia said.

Susan Millspaugh of the New Mexico Mortgage Lenders Association said that foreclosure rates continue to drop in the state and are currently one-third of 1 percent. Millspaugh also said the regulations created and enforced by the state ensure that New Mexico lenders are highly trained and adhere to high ethical standards.

Mortgage money

After peaking at 40.8 million in 2007, the number of tax returns claiming the mortgage interest deduction has steadily fallen and, as of 2013, the latest year from which data are available, stands at just 33.3 million, according to Elliott Eisenberg, the Laughs and Graphs economist. Not surprisingly, the amount of mortgage interest paid also peaked in 2007 at $491 billion and is now $296 billion, while the average amount of MID claimed per filer has fallen from $12,052 to $8,900.

Go here to see the original:
Office suites will cater to small-firm entrepreneurs - Albuquerque Journal