Turning the corner into a new year, those adverse to change can rest easy. The local housing market is not likely to alter its pace much, aside from the annual uptick in sales come spring and summer, accordimg to forecasts by industry professionals. Whether the status quo is good or bad; depends on whether you're a buyer or seller, on whether your a builder selling a new home, or an individual selling an existing home, on whether you have expectations that fit with 2008 or whether you're still living in 2004. Thats when many houses sold in a matter of days, at record high prices, keeping inventory low and buyers scrambling to sign purchase afreements. That's no longer the case.
Experts predict a slow market in 2008. But even a slow market isn't all that bad, as interest rates remain low, falling again below 6%, and the inventory remains between 5,000 and 6,000 homes in the metro area giving buyers a choice. Experts agree that 2008 may be a best year to buy.
Specifically, professionals predict the following in the next 11 months:
# The first time home buyer market-houses priced less than $200,000- is strong and will remain so because those folks don't have the burden of first trying to sell the home they're living in.
#Prices will remain lower, especially on new homes, because of the high inventory. Builders will continue to offer incentives, giving new home sales a competitive edge over existing homes, since you or I cannot offer $20,000 in incentives.
#Subdivisions slated to be built will stall, or builders will start selling off lots because inventory is already high.
# Both national and local forecasters believe the market could turn positive in the third quarter of this year.
However, down is the key word in the latest monthly report on the local residential real estate market. Home sales prices are down, the number of homes sold is down and the number of new listings are down. Though the average and median sales prices have fluctuated for several months, November's lower prices are the result of all of the competition. The median sales price in Nov. was $189,450, down from $192,000 last year. The average sales price was $233,950, down from $242.061 the year before.

International financial giant Fidelity Investmants announced today that it will open an office at Mesa Del Sol with 1,200 high paying jobs. Fidelity plans to build a 200,000 square foot office at the master planned development southwest of downtown. The office is scheduled to open in early 2009. Employees there would perform white-collar tasks such as human resources, with an averafe annual salary of $60,000.
The announcement comes within days of another economic development coup for the city and state. On Tuesday, Gov. Bill Richardson anounced the decision by German glass giant Schott AG to open a solar equipment plant, also at Mesa Del Sol.
Fidelity Investments brovides brokerage and retirement services estate planning, wealth management,life insurance and other investment products, along with operating several mutual funds. It had revenues of nearly $13 billion last year and employs 41,000 people around the world.

A German company this morning announced plans to build a solar technology manufacturing plant in Albuquerque's Mesa Del Sol development that could one day employ 1500 people.
Schott Solar will break ground next month on a 200,000-square-foot facility- an initial $100 million investment that will intially employ 350 people to build receivers for concentrated solar power plants and 64 megawatts worth of photovoltaic modules. The manufacturing plant is expected to be open sometime in 2009. The company over time hopes to increase its investment in New Mexico to $500million, grow its plant to 800'000 square feet and employ 1500 people. That optimism is based upon a solar energy market that is growing by 50% every year thanks to an increasing global energy demand and rising costs of dwindling fossil fuel resources. If the company meets its goal it could become the state's third largest private employer.

Four Albuquerque high schools are named among "America's best high schools" by U.S. News and World Report. The schools received silver or bronze awards for ranking among the nation's top high schools in 2008. The report evaluated 18,790 high schools in 40 states. Awards were based on a three-step process that analyzed the following: 1) academic performance in reading and math, 2) academic performance of the school's "least-advantaged students," and 3) college level achievement for the highest percentage of students using Advanced Placement data as a benchmark for success.

The schools receiving silver recognition were:

Sandia High School
La Cueva High school

The schools receiving bronze recognition were:

Eldorado High School
East Mountain Charter High School