Santa Fe Real Estate Blog

What is all the fuss is about in Las Campanas ?

granite counter tops, wolf ranges, adjoining patio

Could it be the gourmet kitchens ?

Gracious portals and endless mountain views ?

flagstone, granite fountain, Sangre de Christo mountains

Southwest Interior Design

hand carved doors

hand carved columns, vigas, kiva fireplace, plastered walls

And do not forget about:

Two Jack Nicolas golf courses

Spa & Gym

Equestrian facilities & miles of BLM land

Club House & Fine Dining

Santa Fe short sale homes, foreclosure homes, and bank owned properties are on the rise. While nothing like Arizona or Florida, Santa Fe does see a greater number of home owners selling their homes under market value or giving up and allowing foreclosure to occur.

• According to RealtyTrac.com, Santa Fe stats for PreForeclosure, Auction, Bank Owned / REO indicate:
• 121 Foreclosures City of Santa Fe
• 149 Foreclosures Santa Fe County
• Median Market Value of these properties, $516,334

If you are a seller, suffering from a life hardship which is causing you financial distress, contact this Certified Distressed Property Expert for a confidential consultation.

Spring in Santa Fe Real Estate is a special time. All the trees are blooming, temperature around 70 degrees, and many homes are on sale with big discounts.

Las Campanas, the gated community with Jack Nicholas golf courses, equestrian center, spa, clubhouse - has seen price reductions of 10-20% over the past year. What was 1.2 million now priced at 900K. The best deal I have seen in Las Campanas is 59 Sunflower, MLS 802486. 3378 sqr/ft for $869,000 !

Other Santa Fe areas with higher inventory and steady price reductions -

Rancho Viejo 300K-500K, Eldorado 300K-600K.

While flowers begin to bloom,  so do the deals in Santa Fe real estate.  

I am watching a handfull of million dollar listings modify pricing to 800K- 900K.

Then there are those million dollar buyers now shopping at 700K-800K for cash.

Soon we will have adjustable rate mortgages come due, forcing many Santa Fe sellers to price aggressively;  many sellers even going to short sale status or foreclosure mode.

For more information visit santafeone.com and santaferealtypartners.com

Anthony Atwell, ABR, CRS, CDPE, ePRO - 18 years serving You.

Buying a Santa Fe home has never been more affordable.

Record low mortgages and a new first time homebuyer tax credit are big incentives.

See home buyer survey -

http://www.reuters.com/article/marketsNew/idUSN2544437620090326

For more information visit santafeone.com and santaferealtypartners.com

Anthony Atwell, ABR, CRS, CDPE, ePRO - 18 years serving You.

Dear Homeowner,
Let’s be honest, you have not sold your home yet.
Taking honesty further, the failure to sell your house may have created emotional and financial distress.
Many homeowners now find themselves in houses they cannot afford and help is available.
We all experience hardship at some point or another- poor credit, low cash flow, inability to refinance, real estate not selling, no savings, divorce, death, job loss, medical, military duty, relocation.
In the current economic downturn, homeowners may fall behind in their mortgage payments. Currently 10%, some 5,500,000 home owners are behind in their mortgage payments. Sadly, 70% offoreclosed properties did so without any intervention - the home owner never listed because he believed one default notice meant a direct path to foreclosure. Worse yet, this foreclosure rate is expected to double over the next three years as Adjustable Rate Mortgages / (ARMS) reset to higher interest rate.
What is a distressed homeowner to do ? The Santa Fe Short Sale Solutions Team provides dignified solutions to sell properties that will not sale and help others avoid foreclosure.
Santa Fe Short Sale Solutions Team works with homeowners who may have properties:
1. Overpriced.
2. Poorly marketed.
3. Owner must Sell.
4. Poor physical condition or vacant.
5. Mortgage value is greater than market value.
6. Property owned by a person suffering hardship, causing financial distress.
7. Property in Foreclosure.
Call us now for your confidential consultation and tell your friends about us.

Anthony Atwell, Broker Associate, Santa Fe Realty Partners, CDPE, CRS, ABR, ePRO
505-670-2177, tony@sfrp.com
Peter Kahn, Broker Associate, Santa Fe Realty Partners, CDPE, CRS, RSPS, SRES
505-690-4840, 946-2254, pkahn@sfrp.com

2007 -2008

City Size 26,620 acres - 26,620 acres
Housing Growth 1.6% - 1.3%
Median Price Home $371,000 - $355,688

For more information visit santafeone.com and santaferealtypartners.com

Anthony Atwell, ABR, CRS, CDPE, ePRO - 18 years serving You.

First-Time Santa Fe Home Buyers, pay attention to gift from the IRS.
The Federal Stimulus Bill 2009 contains a tax credit for first-time Santa Fe home buyers of $8,000. This revises te 2008 credit of $7,500 which was in the form of an interest-free loan for 15 years, and now is a direct tax credit which can be taken on 2008 or 2009 Federal tax returns.
A home buyer qualifies if they purchase a Santa Fe home between April 8, 2008 and December 1, 2009, although purchases before January 1, 2009 are still treated as a 15 year loan. For 2009 purchases, if you sell a home within 36 months of purchases, there will be a recapture ofthe credit. A first-time homebuyer is one who has not owned a home for 36 months.
If your adjusted gross income is over $95,000 (or $170,000 if married and file jointly), no benefit is received which is defined as the lesser of 10% of purchase price or $8,000.
See IRS Form 5405,http://www.irs.gov/pub/irs-pdf/f5405.pdf
Andrew Hoffman, Morgage Partners Santa Fe
505-660-6575

Santa Fe Style in Santa Fe Real Estate ? You can bet your boots we are a multicultural society. You see it everywhere - in the architecture, the people, the traditions that make Santa Fe and Northern New Mexico so special.
Relative to Santa Fe Real Estate we have historic and new construction reflecting Pueblo Style and Territorial Style. Adobe is common in the historic areas. Most homes are built with frame and stucco construction, emulating the Pueblo Style.
Other Santa Fe Style elements you will have to see to believe: corbles, vigas, latillas, nichos, bancos, kiva fireplace, diamond plaster, Saltillo tile, Italian Granite, and more !
In the newer construction you will find: effective passive solar design, split floor plans, combined kitchen/living area, awesome views, Green Building Standards.
Remember the best homes always sell first at fair market value. So do not wait to long to discover your Santa Fe dream home.

The Santa Fe public voted no on Santa Fe transfer tax of expensive Santa Fe homes. 54%voted against the Workforce Housing Funding Initiative, sponsored by the City of Santa Fe.
We can all breath a sigh of relief that we did not create another underfunded City of Santa Fe bureaucracy. Raising taxes in a slower economic environment is not a great idea either.
Now is time to refocus on ideas how to fund and create affordable homes for all Santa Feans who need financial assistance. Many of these ideas will be coming from: The Santa Fe Housing Opportunity Partnership, Homewise Santa Fe, Santa Fe Builders Association, Santa Fe Association of Realtors.