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Jama Fontaine Joins Top Agents to Discuss Luxury Real Estate Market

“Leaders in Luxury” Event Debuts New World-wide Research on Über-Rich

DALLAS, Texas. (October 16, 2007) – From Hawaii to New York, and Canada to Florida, over 100 of the top real estate professionals working in the upscale residential market converged last week in Santa Fe (NM) at The Institute for Luxury Home Marketing’s annual Leaders in Luxury (LIL) conference where they heard predictions from an international luxury market futurist.   According to Jama Fontaine, an agent with  Keller Williams Realty, the exclusive event was an invitation-only educational and networking opportunity for real estate agents who handle million and multi-million dollar homes and estates.  “The event attracted top luxury home agents who, on the average, work with properties priced at $3 million and above, with many working with homes valued at $10 million to $100 million,” said Fontaine.

Highlights of the conference included a presentation on “Cultural Rebooting: The New, Emerging, Global Elite are Rewriting the Rules of Luxury” by Martin Raymond, Founder of Future Laboratories in London, England. Raymond shared new research findings-- the North American debut of the information -- on the new echelon of global wealthy and how they are reinventing luxury and changing the upper-tier housing market.

Mrs. Mary Louise Starkey, Founder of Starkey International (also known as “Butler Boot Camp”) shared information on “Working for the High Net Worth Individual.”  Other speakers and panelists for the event discussed  a variety of topics, including tips for working with the international buyer and seller, how to use blogging to build business, tips for succeeding at the $10 million and above price point, and how to write real estate copy Madison Avenue style.

“LIL registration was limited to only 115 top luxury agents,” said Laurie Moore-Moore, Founder of The Institute for Luxury Home Marketing, “to give our attendees the opportunity to build an exclusive network of contacts focused on the upscale residential industry while sharing with the best in the business. Since competency is the key to working successfully with the luxury buyer and seller,” added Moore-Moore, “Leaders in Luxury is designed to provide attendees with important knowledge and insights giving them a competitive edge in meeting the needs of the affluent.

Jama Fontaine considers attendance at Leaders in Luxury to be essential for success. “Attending the Leaders in Luxury event is an investment for my clients,” said Fontaine. “With the current real estate market, I have to be proactive to stay on top of the industry. By networking with the best in the business, sharing ideas, and learning about the latest trends and outlooks, I can help my affluent clients find success where others are finding challenges.”

The conference is an annual event.  For information, visit www.LeadersinLuxury.com  or contact The Institute for Luxury Home Marketing at 214-485-3000.

About The laceType w:st="on">InstitutelaceType> of laceName w:st="on">LuxurylaceName> Home Marketing

The Institute has 5000 members on four continents.  Members who have completed special training and met performance standards may earn the prestigious Certified Luxury Home Marketing Specialist designation. Associates who demonstrate competence in the million dollar and above property arena are recognized with membership in The Institute’s Million Dollar Guild. Find training and membership information at www.LuxuryHomeMarketing.com or phone 214-485-3000.

The Federal Reserve just announced that the Fed Funds rate will remain unchanged at 5.25%. The Fed Funds rate has not changed since June 29th, 2006. The news came as no suprise to the financial markets. As I stated in an earlier market update. The Fed Funds Futures Index was reflecting with 100% certainty that the Fed Funds rate would not change.

Many times the financial markets react more strongly to the comments released from the Federal Reserve than the actual rate announcement. The Feds comments addressed inflation. The Fed stated that core inflation had improved modestly. This is good news. However, core inflation does not include volatile food or energy prices. Crude oil is still trading at $70 a barrell and consumers are paying over $3.00 per gallon for gasoline.

The bond market and mortgage backed securities market did not move lower on the announcement. Mortgage backed securities and mortgage interest rates are moving higher today. Many investors may raise their rates and fees in the morning. The national average for a FNMA 30 year fixed rate is currently at 6.62%.

If I can be a resource to you or your clients, please contact me.

To Your Success,

Scott Cummings,CMPS
Nationally Certified Mortage Planning Specialist
Cummings Financial
Scott@CummingsFinancial.net
(505) 884.8600 Office

Hottest 10 Buyers Real Estate Markets Announced
There are still hotly appreciating real estate markets, according to Housing Predictor, which is announced its Hottest 10 Buyers Markets..

(FAST PITCH PRESS) Date Released: 04/30/2007
There are still hotly appreciating real estate markets in the U.S., according to a nationwide survey conducted by Housing Predictor, which forecasts housing markets futures in more than 250 local housing markets in all 50 U.S. states.
Driven by booming local economies and unprecedented growth, the Hottest 10 Buyers Markets in the U.S. are mainly located in the southern half of the nation. Five of the Hottest 10 Markets in 2007 are located in Texas.

The Top spot, however, is Albuquerque, New Mexico, which is projected to appreciate 9.1% by the year’s end. Exploding with a population of almost a million people for the first time in its history, Albuquerque is growing like never before, attracting the movie business from Hollywood with the construction of new movie studios, a new airplane factory and many other new businesses.

Housing Predictor’s selection of the Hottest 10 Buyers Markets are based on surveys conducted on 75 markets under consideration from more than 250 local housing markets forecast on the web site.

McAllen, Texas was selected as the runner-up to Albuquerque to place second among the top 10 markets forecast for the highest appreciation throughout the remainder of the year. Four other Texas markets made the list, reflecting a state real estate market in the Lone Star state that is appreciating at levels not seen in many years. Housing Predictor forecast the current boom in Texas in early 2006.

Salt Lake City, Utah placed third. Salt Lake is experiencing the beginning of a slow down in its housing markets after nearly a 20% increase in appreciation in 2006. The brakes, however, won’t hit the market until late this year, keeping Salt Lake at a rich stride through the end of the year, according to Housing Predictor.

The Hottest 10 Buyers Markets represent growing local economies, which are sure to foster growth into 2008 and perhaps into the following decade as the composition of the U.S. population changes, resulting in major changes in the housing market nationally.

New Orleans, Louisiana placed fourth, followed by Austin, Texas, Houston and Biloxi, Mississippi, which is experiencing unprecedented growth with a booming local economy in the wake of Hurricane Katrina, which devastated the Gulf Coast Community.

Biloxi has risen from the depth of destruction to re-open casinos and entertain gamblers at its casinos again. A new condominium preconstruction boom is taking the place on the old waterfront. Eight new major condominium developments are already under construction with another dozen in the planning stages.

To see the entire list of the Hottest 10 Buyers Markets in the nation, check on your local markets future and search real estate listings visit http://www.housingpredictor.com

Action! Real Estate market goes Hollywood
New Mexico Business Weekly - December 16, 2005by Abby RoedelNMBW Staff
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It might never be Hollywood, but the Albuquerque area is certainly starting to carve out its own niche in the film and television industries -- and that's turning out to be more than mere glitz for the local commercial real estate market.

The Albuquerque Film Office says there are currently seven films that are either filming or in pre-production in the greater metropolitan area and to real estate brokers, they all have one thing in common: Every production needs to rent some type of space.


"It's been great for the real estate market," says Tom Jenkins, a broker with Real Estate Advisors, who has recently leased a total of 82,000 square feet of office space to three separate productions. The largest of these leases belongs to the ABC Family original series "Wildfire," produced by Lions Gate Television, which doubled in size and extended the term of its lease by one year on its location in Rio Rancho's Fulcrum Building. The three tenants, including Wildfire, are leasing the office space at a rate of $9.50 per square foot, plus operating expenses. The warehouse space is priced at $5.50 per square foot.

Wildfire expanded into a 59,000-square-foot studio and office space at the end of October, about two months after ABC Family announced it had picked up a second season of the show. The expansion left the 160,000 square-foot Fulcrum Building with just 9,000 square feet of vacant space. Brokers say it also helped sell the building, which was listed in October at a price of $8 million.

"We were not trying to sell the property to investors, rather users, but by getting Wildfire in there, we were able to go after investors," says Brad Allen, a broker with Roger Cox & Associates, the management and leasing company for the property. Both Allen and Roger Cox represented the buyer, an investment group operating as Fulcrum Building LLC.

The limited liability co. is half owned by Las Cruces investor, Bern Thurston. The other half belongs to Rincon Valley LLC, owned by Thurston's six nieces and nephews. Jenkins, along with broker David Genrich, represented the seller, Phoenix, Ariz.-based Diversified Properties.

But, the expansion of Wildfire's Rio Rancho headquarters is only part of the local real estate market's burgeoning relationship with the entertainment industry. Richard Gere's new movie, "The Flock," is leasing an 8,000-square-foot space in the IBEW [International Brotherhood of Electrical Workers] building at 4921 Alexander Blvd. NE. Real Estate Advisors leased the space for $16 per square foot in November and Jenkins says the production crew will be in there until April.

"That's an average rent for the area, but the vacancy rate is going down and rents are going up," says Scott Throckmorton, president of Argus Investment Realty. "The market is tightening and there will be fewer spaces to choose from next year," he says.

Another big win for New Mexico was the announcement that Warner Bros. Pictures film "Beerfest" will start filming here at the beginning of January. The film's Albuquerque office will be a 15,000-square-foot space at 1551 Mercantile Ave. NE. Warner Bros. is leasing the space at $12.50 per square foot.

While Real Estate Advisors has only recently begun reaping the benefits of Tinsel Town's entrance into the Albuquerque real estate market, Janice and Ralph Brutsche have been leasing out their sound stage and office space for the last two and a half years. Sound Stage 41, located at 4121 Cutler Ave. NE., has been host to five productions during this time.

The film "Welcome to America," starring Kevin Kline, is currently leasing the space and was preceded by "Bordertown," with Jennifer Lopez and Antonio Banderas. Across town, Steve Maes has subleased his property to two different productions, including the USA Network's movie "Three Wise Guys" and the independent film "Doubting Thomas."

"When we first leased the space [about two years ago], we were having a little bit of a hard time getting some tenants," says Maes, a digital media producer, who is leasing the building at 907 3rd St. NW from owners Dave and Dan Hernandez.

"Until the industry came in and started taking over, it hadn't been fully occupied," adds Maes.

10 best places to own real estate
Even in a tough market, 63 of the 100 biggest markets are due to see a rise in 2007.
December 21 2006: 6:16 AM EST


NEW YORK (Fortune) -- Many Americans looking at the values of their homes are asking not whether it will fall, but how much. But in fact, more than half of the 100 top markets in the U.S. are slated to rise next year.

Forecasts for 100 real estate markets
Fortune asked Moody's Economy.com and real estate valuation company Fiserv Lending Solutions to give us their take on what lies ahead for housing in the country's 100 largest metropolitan areas.

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The picture in many parts of the country isn't pretty. In 2007, 36 of the 100 biggest markets are expected to see price declines. For 2008, that number rises a notch to 37.

6 strategies to survive the real estate bust
But the housing market looks healthy in the Southeast, where the top market, McAllen Texas, is predicted to rise 8.5 percent in 2007, and another 9.8 percent in 2008. In fact, four of the hottest U.S. home markets forecast for next year are in Texas. Also on the list are two markets in upstate New York -- Syracuse and Rochester.

See forecasts for 100 markets.

10 housing markets projected to rise
Metro area 2007 projected price change 2008 projected price change Median home price
McAllen-Mission, Texas 8.50% 9.80% $69,660
El Paso 7.10% 4.40% $124,410
Albuquerque 5.90% 0.60% $179,620
Salt Lake City 5.40% 1.90% $186,230
Syracuse, N.Y. 4.80% 3.60% $117,540
San Antonio 4.80% 3.50% $139,830
Rochester, N.Y. 4.50% 4.20% $116,090
Baton Rouge 4.50% 2.80% $170,240
Fort Worth-Arlington 4.40% 3.50% $127,470
Birmingham, Ala. 4.40% 3.50% $165,740

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Mortgage rates fall to 4-month low

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Weak home sales could point to more severe economic slowdown
Thursday, August 24, 2006


Inman News

Frank Nothaft, Freddie Mac

Mortgage rates dropped for the fifth straight week to lows not seen since April on expectations that the housing market slowdown will ease inflation fears, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage sank to an average 6.48 percent this week, down from last week's average of 6.52 percent, and is now at its lowest since April 6, 2006, when it averaged 6.43 percent.

The average for the 15-year fixed-rate mortgage also fell from last week, down to 6.18 percent from 6.2 percent, and is now at its lowest point since the week ending April 20, when it was 6.17 percent.

Points, which are fees charged by lenders for loan processing expressed as a percent of the loan, averaged 0.4 on the 30- and 15-year loans.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) fell to 6.14 percent this week, with an average 0.5 point, down from last week's rate of 6.18 percent. The one-year Treasury-indexed ARM averaged 5.6 percent, with an average 0.7 point, down from last week when it averaged 5.65 percent.

"The Fed has acknowledged that it is closely monitoring the housing market as it slows down from last year's record pace," said Frank Nothaft, Freddie Mac vice president and chief economist. "Although this fuels arguments about whether we will experience a soft landing or a bursting housing bubble, market watchers also perceive that it's possible that the Fed may stop raising short-term interest rates over the near term. This perception takes upward pressure off mortgage rates.

"Meanwhile, although both existing- and new-home sales for July fell below market expectations -- confirming the slowdown in the housing market -- we still expect 2006 to be the third-highest year on record for total sales."

In Bankrate.com's survey, mortgage rates declined for the seventh time in the last eight weeks, aided by last week's better-than-expected reading on the Consumer Price Index. The average 30-year fixed-rate mortgage fell to 6.48 percent, the lowest since March 29, according to Bankrate.com's weekly national survey of large lenders, and these loans had an average of 0.32 discount and origination points.

The average 15-year fixed rate mortgage, popular for refinancing, dropped by a similar amount to 6.19 percent, Bankrate.com reported. On larger loans, the average jumbo 30-year fixed rate declined to 6.74 percent. Adjustable-rate mortgages also backtracked, with the average 5/1 ARM sliding to 6.24 percent, and the average one-year ARM retreating to 6 percent.

Slower economic growth and the Fed hitting the pause button have helped bring fixed mortgage rates to a five-month low, according to Bankrate.com's survey. Although inflation remains a threat, bond investors are confident in the Fed's forecast that inflation will recede as the economy cools. Bond yields and fixed mortgage rates both reflect some concern on the part of investors that the economy will slow too much, causing the Fed to cut rates at a later date. Fixed mortgage rates are closely related to yields on long-term government bonds.

Bankrate.com reported that fixed mortgage rates have fallen nearly one-half of a percentage point since the Fed last hiked rates at the end of June. At the time, the average 30-year fixed mortgage rate was 6.93 percent, meaning that the monthly payment on a loan of $165,000 was $1,090. With the average 30-year fixed rate now 6.48 percent, the same loan originated today would carry a monthly payment of $1,041. With the recent pullback, fixed mortgage rates remain an attractive refinancing alternative for adjustable-rate borrowers facing sharp payment adjustments, Bankrate.com said.

The following is a sampling of Bankrate.com's average 30-year-mortgage interest rates this week in some U.S. metropolitan areas:

New York - 6.42 percent with 0.26 point

Los Angeles - 6.53 percent with 0.53 point

Chicago - 6.63 percent with 0.06 point

San Francisco - 6.52 percent with 0.32 point

Philadelphia - 6.33 percent with 0.48 point

Detroit - 6.55 percent with 0.03 point

Boston - 6.51 percent with 0.18 point

Houston - 6.52 percent with 0.32 point

Dallas - 6.46 percent with 0.43 point

Washington, D.C. - 6.36 percent with 0.58 point