Thanks for your interest in Santa Fe Real Estate.

Luckily for us Santa Fe locals, real estate values firmed up in the end of 2008. Indicating a gradual increase in buyers as folks realize investment diversification into Santa Fe makes sense now.

Buyers of late are simply closing out their mutual funds and investing their cash into Santa Fe real estate. They know they will retire here sooner rather than later, so cut their stock losses and move on to real estate investment where they can: appreciate, depreciate, rent, improve, refinance. These cash buyers are smart enough to know that their return on equity invested and a long term view point will give an investor double digit returns.

Everyone else sitting on the sideline, know we can find you a loan. If your credit is good, you will enjoy historically low interest rates. If your credit is average, expect to put more money down and lower debit ratios (so payoff your credit cards now!).

Talk to you soon!  Anthony Atwell

Associate Broker, CRS, ABR, 505-670-2177, tony@sfrp.com

http://santa-fe.rentclicks.com 

http://sfar.com/rentals.asp

http://www.santaferent.com/

http://www.kokoproperty.com/rentals.html

http://www.santaferentals.com/

http://www.vacationrentalsantafe.com/Home.html

http://santafe.craigslist.org/

http://www.newmexicanclassifieds.com/

http://newmexico.backpage.com/gyrobase/classifieds/index 

Rising building costs sources: cost of commercial finance, raw materials, especially steel, up 60% in past year. Additional city and state regulations also pushing prices higher.

Land price appreciation is flat at the moment, lot’s of land available on NW city limits and along Hwy 285. Deals to be had.

If you want to be close to downtown Santa Fe or in the foothills overlooking Santa Fe, you will pay to play in Santa Fe.

So how much to build your dream home ? 

Since your wife has great taste, expect to invest $275 - $400 sqr/ft.

Anthony Atwell, tony@sfrp.com, 505-670-2177.

On a bright note, sales in the City for the 3rd quarter 2008 are on par with sales from the 3rd quarter 2007.

Clearly Santa Fe, New Mexico homes are holding their value. This is especially positive during this evolving US real estate correction and evolving stock market correction.

So diversify your investments into Santa Fe real estate!

Sell your exisiting properties in soft markets below median value and stop the losses. Close your non performing stocks in a very volatile stock market and stop the losses. Have peace of mind knowing your Santa Fe real estate is a safe haven, driven by: retiring baby boomers, 4 million tourists a year, less and less land available, great weather, great cultural life, great outdoor activities.

For more statistics see:

http://www.sfar.com/documents/3QStats-Web_001.pdf

Have a great day, I am now going skiing.

Anthony Atwell, ABR, CRS, ePRO

tony@sfrp.com, 505-670-2177.

Santa Fe, New Mexico now experiencing: High Inventories, Slow Absorption Rate, Flexible Sellers, Historically Low Interest Rates.

Timing is on the buyer’s side now, until Santa Fe wakes up in May 2009 for another tourism cycle.

If you buyer’s are not around, I am going skiing 3-4 times a week.

Anthony Atwell, tony@sfrp.com

            While the main “scream” media would have you believe things have never been worse in this country, it’s important to look at historical data for a better perspective.  The Federal Housing Finance Agency released a report on November 25, 2008* just in time for the holidays. Although the report expresses reasonable concerns for the state of the national housing market, I found the data on New Mexico and Santa Fe to be rather uplifting.

The report shows that for the period ending September 30, 2008, the net percent of change in home prices in New Mexico was -0.22-that’s less than one-quarter of one percent!!!  For Santa Fe in particular the one-year net difference is -1.71. That’s less than 2%!!! Guess what that means folks? For the prior five-year period, Santa Fe home prices have risen by 42.34% and New Mexico, overall, has seen an increase of 236.89% since 1980!!! Granted, those aren’t the highest historical numbers in the nation but, many of the markets that experienced the highest appreciation rates are also subject the biggest declines in the current market.

What does it all mean? It means simply that while the markets of California, Nevada, Arizona and Florida have all seen double-digit declines and the Eastern sea board states have seen about 4% declines which is also the average for the entire US, Santa Fe is still one of the best value markets in the entire US.

 As of this writing, conventional conforming loan rates have dropped back to historical lows-around 5.25%!!! Now more than ever (especially at this holiday-time), it’s important to stay focused on the positive thing and be thankful. We’re very fortunate to live in such a beautiful place with the relative isolation from so many of the challenges facing the rest of our great country. Please remember the less fortunate at this sensitive time with your good thoughts and charitable contributions and remember “Life is good here in Santa Fe!”

*Complete report available: http://www.ofheo.gov/newsroom.aspx?ID=487&q1=1&q2=None

 Gary Miller is Senior Loan Officer for American Capital Mortgage, Inc. and independent mortgage brokerage in Santa Fe and can be reached directly at 505.920.4239. You can also reach him by email to garym@hubwest.com. 

PAY ATTENTION INVESTORS. NOW IS YOUR TIME !

In Santa Fe, NM, current MLS statistics indicate:

price - current MLS inventory - absorption rate/mo

100K-300K, 199, 6 months inventory based on current demand

301K-500K, 341, 9 months inventory based on current demand

501K-800K, 350, 4yrs inventory based on current demand

801K-1.1M, 176, 18 months inventory based on current demand

Price-Current Listings-Avg Sale/Mo-SP/LP%-DOM-Absorption

100K-300K, 199, 25.83, 94.87, 134, 6.22

301K-500K, 341, 25.67, 95.31, 170, 9.22

501K-800K, 350, 17.50, 93.94, 167, 63.71

801K-1.1M, 176, 7.33 93.76, 224, 25.14

1.2M-5M, 300, 8.50, 91.31, 269, 18.75 

The rate of return will calculate and report - purchase price, loan, interest rate, cash flow, appreciation, depreciation. Numbers can be modified to review various investment scenaries. 

You will be surprised how your money compounds safely here in Santa Fe, New Mexico.

Also remember Santa Fe has some of the lowest property tax rates in the US.