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Santa Fe Real Estate Scene
May 2006

State of the Santa Fe Market

Santa Fe Spring - purple Lilacs bloom, trees shimmer green, hummingbirds returning. Sunny, seventy degree weather has real estate investors and tourists out visiting open houses.

Winter 2006 sales remained strong. Attribute this to exceptionally mild weather and plenty of newer homes attracting the Santa Fe and out of state buyers. These newer homes accentuate: expansive views, open kitchen/den areas, gardens, natural light, bay windows and skylights, large stone flooring with radiant heat, masters baths with large closets and makeup areas for the ladies. Price range $400,000 - $800,000

No doubt about it - less and less Santa Fe land available, and the value of land goes up, up, up. Realize Santa Fe land is surrounded by: national forest, pueblo land, BLM land. Also know that water restrictions and no subdividing under 2 acres in Santa Fe County increase the value of land with established water and utilities.

Searching for 1-5 acres, residential lot in or near Santa Fe?

One mountain view, $130,000 - $175,000

Two mountain view, $200,000 - $260,000

3+ mountain view, $275,000 - $400,000

What about Santa Fe building costs for a home full of the SW Amenities?

Think investment when building - you get what you pay for in the long run.

Santa Fe building costs now running $160 sqr/ft - $500 sqr/ft.

Spring Home Improvements – when you are not shopping for real estate, invest in the real estate you have.

Make home improvements that add value to your real estate: paint home, remodel kitchen, remodel master bath and closets, add home office, add patio, landscape with automated drip irrigation.

Remodelers in Santa Fe: Casa Hermosa Builders, Honey Do Home Repair and Closets, Sage Builders

Spring Gardens – now is the time to plant and mulch your gardens. Check your drip irrigation system for leaks and proper water distribution. In the Southwest, respect the fact we live in the high mountain desert. Choose plants that thrive in low water and high sun exposure. SW Plants to enjoy: Lavender, bachelor buttons, yarrow, poppies.

Landscapers in Santa Fe: Desert Rose Landscape and Maintenance, Oscar Quezada Landscaping

Nurseries in Santa Fe: Santa Fe Nurseries, Plants of the Southwest, Payne’s Nurseries, Tropic of Capricorn

"Create Wealth Through Santa Fe Real Estate"

For Advice, call Broker Atwell at 866-264-4848 or 505-670-2177.

Buyer Tips

7 Habits of Successful Investors

  1. Save and invest 15% pretax income
  2. Buy and Hold. Power of Compounding
  3. Utilize Professionals – Realtor, Attorney, Accountant, Title
  4. Asset allocation, diversify – cash, stocks, bonds, credit line, real estate, insurance
  5. Systematic and unemotional accumulation
  6. Expert Team gives you unbiased and objective advice
  7. Align reinvestment with growth trends

3 Major Tax Deductions

  1. Own your business, Schedule C or K-1
  2. Real Estate and depreciation
  3. Oil and Gas

Habits of Successful Real Estate Investors

  • Finance for 15 years
  • Place 20% or more down on your loan
  • Invest and Hold
  • Invest consistently
  • Buy newer properties
  • Focus on investment strategy
  • Research and know your marketplace
  • Hire an experienced Realtor to save time and money
  • Utilize property management company for consistent income
  • Maintain great records
  • Depreciate your properties
  • File and Pay your taxes strategically
  • Plan and setup estates and LLC with your attorney and accountant

Are you aware of the following financial loan options?

  • 40 year fixed rate
  • 30 year fixed rate
  • ARMS – adjustable rate
  • Interest Only
  • Construction
  • Purchase to Remodel
  • Commercial
  • Mixed use
  • Piggy Backs, Helocs
  • Veterans Administration Loans
  • Owner financed New Mexico Real Estate Contracts

New Mexico Personal Income Tax Rates continue to fall, making PIT rates more competitive with surrounding states. New Mexico Deductions for capital gains continue to expand. Taxes on homes and land continue to be some of the lowest in the United States.

New Mexico Tax and Revenue, Santa Fe 505-827-0951, 827-0700 http://www.state.nm.us/tax/ City of Santa Fe 505-955-6500 http://www.santafenm.gov/index.asp

Santa Fe County 505-986-6200 http://www.co.santa-fe.nm.us/

Federal Real Estate Tax Rules for Property Owners http://www.real-estate-owner.com/

Financial Pre-Qualification is nothing to fear and is free. Call Santa Fe mortgage brokers listed in this newsletter. Financial pre-qualification process simply requires: a phone call, define your financial objectives, your social security number. Mortgage brokers will call or email you with a range of value in which you are pre-qualified to shop for your Santa Fe real estate.

Gary Miller, Northern New Mexico Mortgage
877-988-2276 toll free, 505-920-4239, gary@santafemortgagesource.com

Marcela Lopez, Delta Mortgage, 505-920-2344

Rich Zimmerman, The Watkins Group 866-989-8996

Whitney Smith, Wells Fargo Home Mortgage 505-989-3260, 505-315-1908 william.w.smith@wellsfargo.com

Interest rates, See www.Bankrate.com

See Buyer Tips http://www.santafeone.com/articles/buyers.html

Want to search for all available properties in Santa Fe, Eldorado and Los Alamos? search the MLS.

Seller Tips

Broker Anthony Atwell and his team of experienced Realtors are committed to bring you great results.

  • Free Home Market Analysis, Call Now 1-866-264-4848
  • Listing Team for Fast and Effective Sale of Your Home Strong Internet Presence for Out-of-Town Shoppers Proven Advertising Campaigns Property Management for Santa Fe Real Estate. Consistent and Responsive Communication
  • Investment, Pricing and Negotiation Strategies

We will be your partner throughout this important process. We'll keep it simple. We'll keep you informed and we'll sell your house fast, at the right price. Thank you.

Call Direct toll free, 1-866-264-4848

See Seller Tips http://www.santafeone.com/articles/sellers.html

Statistics


Santa Fe Association
of Realtors
2006 First Quarter
Santa Fe Area

Existing and new single family detached home sales:

City of Santa Fe

Northeast
Northeast
34 sold, median price $717,500
Northwest
12 sold, median price $430,562
Southeast
39 sold, median price $582,000
Southwest
132 sold, median price $271,857
Total City of Santa Fe
217 sold, median price $308,000

Santa Fe County

North
14 sold, median price $570,000
Northwest
38 sold, median price $697,625
Southeast
81 sold, median price $460,000
Eldorado
44 sold, median price $370,000
Southwest
61 sold, median price $340,000
Total Santa Fe County
194 sold, median price $449,750

Total City of Santa Fe/Santa Fe County
411 sold, median price $375,140

Condo/Townhome  City and County
174 sold, median price $297,250
Duplex, Xplex  City and County
9 sold, median price $165,000
Mobile/Manufactured City and County
17 sold, $153,000

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.

Finance


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

Marcela Lopez, Delta Mortgage, 505-920-2344

Rich Zimmerman, The Watkins Group
866-989-8996

Interest rates, See www.Bankrate.com

Whitney Smith, Wells Fargo Home Mortgage,
505-319-1908,
whit.smith@wellsfargo.com

Interest rates, See www.Bankrate.com

Jobs in Santa Fe

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

Also:
http://www.santafehasjobs.com/
http://newmexicojobs.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.
Santa Fe Resources

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

Kokopelli Realty services: City of Santa Fe, and the following counties: Santa Fe County, Rio Arriba County, Mora County. Other cities and towns include: Santa Fe, Los Alamos, Espanola, Abiquiu, Medanales, Alcalde, Dixon, Pojoaque, Tesuque, Las Campanas, Nambe, Chimayo, El Dorado, Glorietta, Pecos, Hwy 285, Galisteo, Lamy, Hwy 14, Cerrillos, Madrid, Rio Chama, Rio Grande, Pecos River and more!


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Member, National Association of Realtors  Accredited Buyer Agent  RE/Max Capitol
  Certified Residential Specialist
  Anthony Atwell, Jr.   ABR, CRS, ePRO
505-670-2177,

RE/MAX Capital - Each Office Independently Owned and Operated
411 St. Michaels Dr. Ste. 3, Santa Fe, New Mexico, 87505 505-988-4688

 

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