Santa Fe Real Estate Scene
July 2003

Message from the Broker at Santa Fe One Realty

Fourth of July was a blast this year. Before the evening festivities began, my buddies and I four wheeled to the top of the world in the Jemez mountains and enjoyed the views 300 miles in every direction. We all thought how lucky we are to live in Santa Fe, able to escape to the mountains with a twenty minute drive. Camping, fishing, skiing and horseback riding are activities we Santa Feans also enjoy.

Santa Fe real estate investments continue to enjoy steady annual growth in the $200K - $500K market. Median prices in the Southwest side of town have enjoyed a strong 14%-16% annual increase since 2002 - Good for the sellers! Pricing at the upper end of the market, over one million, remains steady, though inventory remains very high relative to the annual demand - good for the buyer!

Perhaps as interest rates slowly begin to move up, we will see more motivated buyers commit to the Santa Fe market. Perhaps investors will realize inventory on the lower half of the market remains limited due to strong sales during the first half of the year. If you are coming to shop,come financially pre-qualified to make your offer or you will likely lose out on the home of your choice.

Spanish Market will be held the last weekend in July. Then Indian Market and Parade of Homes happen in August. Make your reservations now, as Santa Fe appears to be full of tourists shopping for new homes and lands. All the Realtors we know are busy, so make sure to call in advance to plan your real estate showings around your tourism agendas.

Do not forget to take advantage of your FREE services, just ask!!!

• Free Home Market Analysis
• Free MLS (Multiple Listing Service) research
• Free Relocation Packages
• Free Appraisal if your escrow closes on or before 10/30/03

Featured Property:
3445 Via Janna, Santa Fe

Residential Property: 3445 Via Janna single family vacant land $ 550,000 3 bedrooms 2 bathrooms 1 fireplace

http://www.santafeone.com/listings/168.shtml

Contact Tony about this listing or others like it

Tax Tips - $$$

"Those that fail to plan, . . ."
Article by Gary Miller, mortgage broker

As a mortgage broker I frequently coordinate with realtors, tax planners, accountants, attorneys, investment advisors and other qualified professionals in their respective fields to insure that borrowers maximize any applicable tax benefits associated with their properties. There is a common misconception that many of the fees associated with a mortgage loan purchase or, refinance, are tax deductible. I spoke with William T. Barrett, C.P.A. (505-983-5111)in Santa Fe this morning to seek his counsel on the current rulings concerning some of these matters.

Question: "Exactly which loan fees, if any, are currently allowable as deductions?"

Read the rest of this article
http://www.santafeone.com/articles/failtoplan.html

Finance Tips

"Personal Credit Management - Part One"
Article by Gary Miller, mortgage broker

Question: What is a credit score or, FICO score, and how does it affect my borrowing ability?

Answer: There are three major repositories that track your spending through your personal and/or business lines of credit. Experian, TransUnion and Equifax each utilize their own unique process of risk evaluation to determine your personal credit risk score based primarily upon how you are managing your credit lines as well as numerous other factors. Fair, Isaac & Company (FICO) developed the model system now used by Experian. TransUnion uses the Empirica model and Equifax uses the Beacon scoring model. Scores range from 0-1000, theoretically. The practical range is from 400-850. Lenders will generally use the middle of the three scores, not the average score, to determine your eligibility for a particular loan program

Read the rest of this article
http://www.santafeone.com/articles/credit1.html

Golf Tips

Even though there is snow and skiing high in the mountains; golfers are now out in full force as the average day temperatures run 50 - 70 degrees Farenheit. Hitting a golf ball at 7,000 feet is a lot of fun or very frustrating. You will crush your drives in this thin air, then often overshoot the green with your wedge. In Santa Fe we have three private golf course communities: Las Campanas, Quail Run, and Wedgewood on the Green. Las Campanas maintains two championship courses. Quail Run is a gated community with a shorter irons course. Wedgewood on the green is part of the Santa Fe Country Club. If one prefers not to live in these golf communities, you can live anywhere in Santa Fe County and enjoy other municipal courses: Marty Sanchez, Santa Fe Country Club, Cochiti Golf, and Towa Golf. Golf within a half hour of Santa Fe:

• Santa Fe Country Club 505-471-0601
• Marty Sanchez 505-955-4400
• Pueblo de Cochiti Golf 505-465-2230, 505-465-2239
• Towa Golf Resort 505-455-9000
• Black Mesa Golf Club 505-747-8946

FINANCE TIPS

NEW MEXICO WEEKLY QUOTES, NOW ON LINE!
CLICK HERE

New Mexico Mortgage Brokers
Call or email today for your free financial pre-qualification.

Gary Miller, Citivest Mortgage
1-877-982-9530 toll free, garym@hubwest.com

Ron Blessy, John Schwelnus Capitol City Partners
505-983-9222, capitolpartners@qwest.net

Troy Lepisto, Countrywide Loans
800-264-2114, 505-670-6390, 505-995-3138

Clare Easterwood, Cissy Moore, The Mortgage Company
505-984-9121, http://www.mtgcompany.com

Jobs in Santa Fe

Check out this job resource page, loaded with essential job and relocation information.

Also:
http://www.santafehasjobs.com/

Santa Fe Resources

Government, Non Profit, Schools, Jobs, Media, Finance, Appraisal, Inspection, Title, Survey, Moving, Utility, Contractors & Construction, Wells, Design, Home Services, Property Management, Transportation, Hotels & Motels, Arts & Recreation.
CLICK HERE

If you cannot facilitate your inquiries, contact us and we will help you - info@santafeone.com

STATISTICS
Santa Fe Association
of Realtors
2003 Second Quarter
Santa Fe Area

Existing and new single family detached home sales:
Total City of Santa Fe
2nd qtr 2003
189 sold, median price $269,000
2nd qtr 2002
206 sold, median price $268,119

Total Santa Fe County
2nd qtr 2003
259 sold, median price $275,000
2nd qtr 2002
255 sold, median price $278,000

Condo/Townhome sales
Total City and County
2nd qtr 2003
95 sold, median price $194,600
2nd qtr 2002
129 sold, median price $170,000

Duplex, Xplex
Total City and County
2nd qtr 2003
7 sold, median price $235,000
2nd qtr 2002
4 sold, median price $355,000

Mobile/Manufactured
City and County
2nd qtr 2003
5 sold, median price $151,800
2nd qtr 2002
7 sold, median price $136,500

Note: The City of Santa Fe and Santa Fe County offer homes and land for all levels of buyers and sellers.

Note: This representation is based in whole or in part on data supplied by the Santa Fe Association of Realtors or its Multiple Listing Service. Neither the Association nor its MLS guarantees or is any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.