Localism: New Mexico

I Can't Believe MikeInTucson Missed This Photo!

Thu, 04 Dec 2008 22:58:55 -0600

I love Mike Jones - he is a dear person, friend, photo & blogging guru and a great professional to send clients needing loans to.

It all started when he drove through Las Cruces, New Mexico (my hometown) and was impressed with a sculpture of a roadrunner at the rest area off of I-10, west of town. Being the consummate shutterbug and blogger that he is, Mike wrote a great blog post about the roadrunner made of spare parts and junk, relating it to his business and providing inspirational thoughts for us all. Here is his post: It's Not What You Have...It's What You DO With What You Have...

Great Post! I especially like that he found something truly unique in my hometown, and saw inspiration in it. Isn't that Roadrunner great? Here's a photo that shows the artwork as seen going west on I-10: You can see the roadrunner highlighted in the red circle.

As wonderful as Mike is, I have to question his judgement (although I can understand how his awe at the craftsmanship and creativity that went into the roadrunner).

He completely missed the best part of that vantage point...the view of Las Cruces & the Mesilla Valley that unfolds as you head east into town off of the mesa:

As incredible as the roadrunner is, I can't believe MikeInTucson missed this photo! Those are the Organ Mountains to the east, and Las Cruces is the city unfolding before them. You can see pecan groves in the foreground.

Oh, by the way...that roadrunner? It was approximately 5 feet to my left when taking this picture. Better luck next time, Mike. Perhaps he was just letting me have the opportunity to show a little of the Mesilla Valley's beauty, after all it is my hometown! LOL

Las Cruces, New Mexico - High School Football Capital of The Southwest Region?

Thu, 04 Dec 2008 21:29:21 -0600

High School Football...in some parts of the country, it is treated like religion. Towns shut down on Friday nights to see the local team play. A few communities organize caravans and ride-share programs to go to away games.

TV shows like "Friday Night Lights" treat the subject like the most important thing in teenagers' lives and of their families also.

Texas, Florida, Oklahoma, Pennsylvania...Alabama, Illinois and many others come to mind as places where High School Football is a passion. And Las Cruces, New Mexico.

WHAT? WHERE?

Las Cruces, New Mexico! Yes - this community of roughly 100,000 people in the Mesilla Valley where the Rio Grande River makes the land fertile & history includes Billy The Kid, Pat Garrett along other figures notorious or heroic - is incredibly supportive of its high school gridiron gangs.

The stadium that the school district uses for regular games is named the "Field of Dreams," providing a 10,000 seat place for the 3 high schools to play their home games. When Las Cruces High and Mayfield High play each other...the place just isn't big enough.

When the Bulldawgs meet the Trojans, the game is moved across town to Aggie Memorial Stadium at New Mexico State University, which seats just over 30,000 people. The backdrop of "A" Mountain and the majesty of the Organ Mountains behind provide a scenic setting for fans.

The Saturday after Thanksgiving, these two teams met for the right to play for the State Championship...and somewhere in the neighborhood of 24,000 people came. This was a disappointing turnout...two weeks before, the Bulldawgs & Trojans drew 26,000+ to their annual regular season battle. The university team barely averages 15,000.

WHY?

One of these teams has won 9 out of the last 13 titles in New Mexico's 5A (large school) division! Mayfield has won 6 (the last 3 championships in a row), and Las Cruces 3.

Having beaten Mayfield during the regular season by virtue of a 2-point conversion in the final minute of play, Las Cruces fans were anxious, hoping that their undefeated season would not be ruined by a Trojan squad looking for revenge. Instead of a close nail-biter, the Bulldawgs won convincingly, 35-7, to dash Mayfield's hopes of a 4th straight championship.

What makes this rivalry special? Many look at the fact that these footballers are all TEAMS first. There are no superstars. In most years, only a few players will earn athletic scholarships. Division I caliber players are even fewer. The special feeling comes from the cameraderie and knowledge that as a TEAM, these kids can do great things, enjoy a fierce rivalry...and still be friends, especially since they've known each other from grade school on.

This country loves its underdogs, Horatio Alger stories and seeing the little guy overcome challenges to achieve great things by working together. In Las Cruces, New Mexico, the storybook gets new chapters every fall.

(Born & Raised in Las Cruces...
known for needing his "enchilada fix"

every few months or so)

Back in the saddle again!

Thu, 04 Dec 2008 11:13:03 -0600

Been having a great time here in Albuquerque, and so much fun that I haven't posted to AR in a long time. Thanks to my friend Margaret Rome who has put me back on the road again.

Been busy with Albuquerque real estate, even if the market is taking a bit of a nap - but it gives me time to retune and refine my business. New ideas come easier and I'm able to implement them. Retooling my websites, putting in new searches, all lots of fun. I've been out searching for new homes on the market, and getting good ideas for marketing in 2009.

Ran across a great inspiration named Seth Godin - wow, what a mind bender. I'm running out to get his books today.

The weather in Albuquerque has been Chamber of Commerce quality. I can't believe it's December. I've had lots of fun getting out doors, hiking the Sandia Mountains and enjoying everything. There are lots of things to enjoy - get out and find them!

Having a ton of fun with new recipes - I get a box of fresh local vegetables delivered weekly. It's both extremely economical and great fun. A local farmer at Los Poblanos, he has a delivery service which drops these wonderful products at your door every week. It gives me variety and inspiration for new things. Some of the products are locally grown, some are free trade - all great. I simply Google the item for recipes. Get those ovens going!

Here's to wishing all of you a fabulous end of 2008.

Remington Financial Group - Advisory Services

Wed, 03 Dec 2008 09:38:38 -0600

About Remington Financial Group's Advisory Services:

Remington's expert Advisory Services help clients carefully evaluate and restructure transactions that may have existing financing challenges. Our team develops advanced strategies to create new and alternative financing opportunities that can help supplement or replace conventional lending sources.

By providing our clients with access to the latest and most competitive capital sources the market has to offer, RFG's borrowers gain the advantage of a comprehensive perspective from which to choose the widest range of financing products available.

Remington also offers quick access to capital sources that can meet the unique demands of specialty and challenging transactions. Companies that are currently restructuring or emerging from bankruptcy and are in need of recapitalization, or considering expansion through leveraged acquisition, will benefit significantly from our experience and insightful guidance through complex transactions.

Remington Financial Group's Available Programs

Senior Debt/Equity Financing

All Property Types
$1 Million to $100 Million
Acquisition, Development, Refinance, Bridge, Principal Buyout, Special or Story Situations

Mezzanine/Bridge Loan Financing

All Property Types
$1 Million to $350 Million
Aggregate Leverage up to 85%
Loan Term up to 8 Years
Amortization up to 25 Years
11% - 14% Annual Interest Rate
Non-recourse Subject to Carve-outs

Joint Venture Financing

100% Financing
Construction, Developments & Acquisitions
$1 Million to $350 Million

Multifamily

Existing Apartment Properties with 5+ Units
Mobile Home Parks
Limited Mixed Use
$1 Million to $5 Million
Nation Wide
6 month, 3, 5, 7, & 10 Year Fixed Terms
15-year Fixed Fully Amortized
Bank Rates
Minimum DSC 1.20
80% LTV for Purchase, Rate & Term Refinance
75% LTV for Cash-out Refinance

Remington Provides
Specialized Funding For:

Apartments & Mixed Use
Assisted Care Facilities
Business Investment Capital
Business Loans without Real Estate
Commercial Properties
Special Purpose Properties;
e.g. Car Washes
Construction Loans
Entertainment & Multi Media
Equity/Debt; 100% Financing
Equity & Working/Operating/
Seed Capital
Franchise; up to 100% Financing
Hard Money; Interim Bridge Financing
Hotels/Motels
Land Development; up to 100%
Mixed-Use Commercial
Multi-Dwellings
Non-Conforming Commercial
Real Estate
Office Buildings - Industrial &
Retail Properties
Retail Space

Remington Financial Group's Loan Process:

Submit Business Plan / Executive Summary

Pre-qualification determination process - project is reviewed and evaluated resulting in:

the project being accepted
proposed revisions being issued for the project
the project being declined

Lender / Investor conceptual interest is obtained along with projected terms and the proposal is issued

Due-Diligence document checklist of typically requested data is prepared and sent to client

Analysis of all documents, preparation and packaging of the data for submission to designated lender/investor;
formal due-diligence commences

Term Sheet/Conditional Commitment and/or Firm Commitment issued

After Term Sheet/Conditional Commitment and/or Firm Commitment are accepted, a site visit and market analysis will commence

Closing | Capitalization | Funding

All I want for Christmas is........a new home with a mortgage rate of 5.25%

Mon, 01 Dec 2008 17:12:02 -0600

That's right folks! Believe it. Mortgage rates dropped last week to 5.25% for a 30-year fixed and 5.125% for a 15 year fixed. Is your heart beating with excitement...mine sure is. This is fabulous news for anyone (yes, I know you're out there) thinking about buying right now.

Let me just illustrate the difference in what a 6.25% interest rate (which you would have gotten ten days ago) and TODAY's interest rate which is 5.25%.

Let's just say you decided to buy this incredibly beautiful new home on Cullum Drive (shameless promotion here) for $329,000 with 10% down. The amount financed would be $296,100:

@ 6.25% your payments would be: $1823/month

@ 5.25% your payments would be: $1635/month

That's almost a $200 difference in your monthly payment. Figure out how much that saves you for one year...for 30 years...

Feel free to call Donna or me and we'll hit the streets looking at the different properties available. We'd love nothing more than to help you find your dream home at your dream mortgage rate.

We can help you get connected to a good lender too. In this day and age we would highly suggest going with a local lender. We're finding it's harder and harder to close loans on properties with out of town lenders or mortgage brokers. We have a great list of lenders in our Insider's Guide-Local Mortgage Help and you can also play with our Mortgage Calculator too.