Archives for May 2019

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In contrast to the commercial market transactions reported by RCA ($2.5 million and above), most REALTORS® who specialize in commercial real estate managed investment deals averaging less than $2.5 million per deal, frequently located in secondary and tertiary markets. The Commercial Real Estate International Business Trends 2019 focuses on this significant segment of the economy and real estate markets.
The responses gathered from a survey of REALTORS® engaged in commercial real estate transactions indicates a similar slowdown in property acquisitions in the small cap market, leasing activity, and appraisal valuations.
In this survey, the term international or foreign client refers to two types of clients:

• Non-resident foreigners (Type A): Non-U.S. citizens with permanent residences outside the United States. These clients typically purchase property for investment, vacation, or visits of less than six months to the United States on non-immigrant visas.
• Resident foreigners (Type B): Non-U.S. citizens who are recent immigrants (less than two years at the time of the transaction) or non-immigrant visa holders who reside for more than six months in the United States for professional, educational, or other reasons.

By: NAR
Click here to view source article.

Two New Mexico counties remain among the top oil-producing counties in the U.S., according to new federal numbers.

Data from the U.S. Energy Information Administration shows that Lea County was the No. 2 oil-producing county in January behind North Dakota’s McKenzie County, The Hobbs News-Sun report ed.

Lea County produced 14.6 million barrels of oil in January while McKenzie County which produced 17.3 million barrels, the report said.

Lea County had more than twice the number of operating rigs as McKenzie County.

Steve Vierck, the outgoing CEO and president of the Economic Development Corporation of Lea County, was pleased to hear the news.

“Our production has roughly tripled in the last five years,” Vierck said. “The county produces over half the state’s oil and the state is No. 3. It really reflects not only how much oil production there is, but how much growth there has been in oil production to move up the chart as fast as Lea County has.”

Meanwhile, New Mexico’s Eddy County was listed as the No. 6 top oil-producing county. It produced 10 million barrels during the same month.

In November, a group of major oil and gas companies with plays in the Permian Basin, a portion of which is the Delaware Basin that straddles the New Mexico-Texas border including the southern half of Lea County, announced the formation of an energy alliance, collectively committing more than $100 million over the next several years to spur additional private-sector investment in the region.

The 18 major oil companies that comprise the Permian Strategic Partnership said the Permian Basin is an oil-producing superpower, becoming one of the most strategically important oil-producing regions in the world.

The coalition of companies said it intends to address infrastructure challenges and strengthen communities across West Texas and southeast New Mexico. They said building new roads, recruiting new doctors and teachers and developing new neighborhoods will require years of work, substantial resources and sustained cooperation among many entities.

By: Associated Press
Click here to view source article.

I have friends in Corrales who don’t lock their doors when they leave the house.

Their security system consists of a doormat that reads “The Neighbors Have Better Stuff” and two vigilant, vocal but decidedly not vicious dogs.

Show up unannounced and unrecognized and you’ll get barked at a lot, but that’s about as far as it goes. No fangs rending flesh.

My friends once had an attack goat named Ethyl-Mae.

Ethyl-Mae, a pygmy goat, was a piece of work. People crossing a certain point on the property – even members of the family – faced the very real possibility of a rude and bruising butting at the horns of Ethyl-Mae.

My friends found out that among the men who delivered hay to their place, their home was known as “the crazy goat house.”

But Ethyl-Mae died a few years ago, so now all that stands between my friends’ unlocked doors and intruders are that doormat and two noisy dogs.

And in Corrales that may be good enough, because, for the second year in a row, Corrales has been named the safest place in New Mexico.

Don’t misunderstand. There’s no magic bubble over Corrales, which, by the way, has been my home for the past 20 years. Things here catch on fire just as they do every other place. People in Corrales fall off ladders, step on nails and get kicked by horses. They get butted by goats, although not so much since Ethyl-Mae passed.

Corrales’ safest city status comes courtesy of the FBI Uniform Crime Reporting program, which shows that Corrales is well below the national average in violent crime and property crime.

Nationally, the numbers are 4.49 violent crimes – murder, rape, aggravated assault, robbery – per 1,000 people and 27.11 property crimes – burglary, arson, larceny-theft, motor vehicle theft – per 1,000.

Overall, New Mexico is a lot worse with 9.57 violent crimes per 1,000 people and 52.84 property crimes. Albuquerque is worse still with 13.69 violent crimes per 1,000 and 73.66 property crimes.

But Corrales, which I like to think of as Mayberry on the Rio Grande, had only 0.58 violent crimes per 1,000 people and 8.93 property crimes per 1,000.

State Legislature considers uses for ‘produced water’: Wyoming-based startup, Encore Green Environmental, is pursuing an ambitious pilot project to clean and re-use water waste from the booming oil and gas operations of southeastern New Mexico. The program has the potential to generate more than 40 billion gallons of new water resources annually and use it to increase vegetation for ranching and erosion control.
Read more HERE.
By: Kevin Robinson Avila (ABQ Journal)
Click here to view source article.