Tag Archives: Santa Fe Real Estate

What Other People Are Saying About Santa Fe

Santa Fe is a world class destination market.  With a rich culture history, fanstastic art museums and galleries, abundant natural beauty, an internationally renowned opera and some of the best and most unique dining available anywhere, there’s something for everyone to experience and enjoy.  Read more about what makes Santa Fe, the City Different, so special and start planning your next visit today. Maybe like so many other visitors, you’ll also fall in love with this unique city and decide to make it your next home!

What other people are saying about Santa Fe:

 

 

 

Santa Fe Neighborhoods – Focus on Villa de la Paz

Villa de la Paz

Villa de la Paz

Villa de la Paz means “Peaceful Village”  in Spanish. This tranquil little haven tucked into the southwest side of Santa Fe certainly lives up to its name.

 

 

 

 

Development began in 1999 – 2000, for this well-established condominium subdivision, which was designed to provide the local community with affordable, quality, urban village housing.

The development contains 89 plotted lots on nearly 10 acres.  76 lots have already been built.  There are eight different floor plans to choose from, three single story and five two story, and all are two or three bedroom units.  The units start at 1,000 square feet and go up to approximately 1,800 square feet.  The housing is FHA approved, which gives buyers the opportunity to purchase these units with a low downpayment.

The gazebo and benches in the park

The gazebo and benches in the park

Villa de la Paz contains a beautifully landscaped park that is approximately 1 acre in size with a gazebo and benches, perfect for walking, contemplating nature or visiting with neighbors.

Peaceful walking trails weave through the subdivision, which also has two landscaped park-like retention ponds. The outdoor areas were planted with a beautiful selection of botanical plants that are drought resistiant and low maintenance.

One of the Villa de la Paz walking trails

One of the Villa de la Paz walking trails

The existing units in the subdivision are designed for maximum light and privacy with vaulted ceilings in the single story units and decks with mountain views in the two story units. Quality construction details include radiant heating, Pella Windows, tile floors, Kohler plumbing fixtures, and solid wood interior doors.  Protective covenants were created  to ensure that residents enjoy uniformity and consistency of style and design in their surrounding environment.

Street scene in Villa de la Paz

Street scene in Villa de la Paz

The subdivision is self contained, with one entrance and one exit and contains ample public parking. Most units have garages.  Villa de la Paz has convenient shopping and enjoys many city services such as water, sewer, electricity and trash pickup.

Contact me, Karen Meredith, Keller Williams, (505) 603-3036 for more information about homes in this neighborhood or for a free market analysis of how much your home is worth.

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2012 Santa Fe homes sales on pace to be best in five years

The New Mexican reported on August 11, 2012 that the summer of 2012 so far represents a rebound for residential sales in Santa Fe County.

The 158 residential sales in June were the highest number of closed transactions in 57 months. July’s sales total of 143 showed the trend continuing. Barring unforeseen circumstances, such as another financial crises, total sales in 2012 are on pace to be the best since 2007.

The total number of sales in the first seven months of 2012, 879, represents a 14 percent increase over 2011 and a 40 percent increase from 2009.

The sales have occurred in all price ranges. There have been 42 residential sales of $1 million or higher so far this year, and 366 sales at $300,000 or below according to statistics complied by Alan Ball, local real estate statistician guru.

The New Mexican observed that “Though the boost is helping the overall economy — with more business for agents, appraisers and inspectors, and increased revenue for local governments that collect gross receipts taxes — it does not necessarily mean jubilant sellers, since prices have not significantly increased from the bottom.

In the second quarter of 2012, the median sales price in the city and county combined had declined 6.8 percent from a year ago. And overall in Santa Fe County, the typical home has lost 30 percent of its value from the top of the market in 2007, according to some estimates.

That has led to a smaller inventory of homes as more owners refinance and stay put, waiting for prices to climb — especially as interest rates have remained low. At the end of June, for instance, there were 1,571 homes on the market countywide — a decrease of 19 percent from a year earlier, according to the Santa Fe Association of Realtors.

For those looking to buy, there is a new database to determine the average closing costs on a $200,000 loan in New Mexico. According to Bankrate.com, which surveyed five to 10 lenders in each state, those average costs total $3,617, including $435 for an appraisal, $495 for processing and $1,058 for the origination fee on the loan. In New Mexico, the average cost of a title search and insurance on a $200,000 loan is $1,434, according to Bankrate.

The 50-state average for closing fees is $3,754, with New York highest at $5,435 and Missouri the lowest at $3,006.”

To view the Bankrate.com website.

Original article by:

Bruce Krasnow | The New Mexican
Posted: Saturday, August 11, 2012

Report: S.F. housing more affordable

By Tom Sharpe| The New Mexican Posted: Friday, February 24, 2012.  This article is syndicated from The New Mexican, for a complete copy of the original article, click here.

The recent economic recession has made Santa Fe housing more affordable, says a report released Friday by the Santa Fe Association of Realtors.

“For the first time in years,” the report says, Santa Fe’s median household income is enough to qualify for the purchase of a median-priced home.

“The market rates of homes have declined which does, unfortunately, negatively affect current homeowners’ investments,” it says, “yet the result is a larger number of affordably priced homes in Santa Fe.”

The report, 2011 Affordable Housing in Santa Fe, cites how the economic collapse in late 2008 led to the loss of 4,600 jobs, increased unemployment rates, poverty rates and foreclosure rates while decreasing median incomes.

But the recession caused the median price of reported real-estate sales to drop from an all-time high of $425,000 in 2007 to $330,000 for the third quarter of 2011, says the report.

“There are a considerable number of re-sale homes on the open market at low prices that were unimaginable a few short years ago,” it says. In addition to the lower median prices, the report notes that prevailing interest rates also have fallen, although lenders have become stricter in qualifying borrowers, sometimes requiring larger down payments than before.

The report says that even though there is little residential building under way in Santa Fe, nonprofits have been able to pull together funding from federal sources, grants and tax credits to increase the number of affordable-housing units:

110 units at the Santa Fe Civic Housing Authority’s new Villa Alegre compound;

60 rental units for the Housing Trust’s Village Sage;

60 rental units at the old Stage Coach Inn on Cerrillos Road have been approved for the Housing Trust;

Habitat for Humanity has acquired eight townhouse lots and has started construction on four townhouses.

The report was researched and written by Jeri Chenelle, a former government-affairs officer for the Realtors Association of New Mexico, with funding by the state association and the National Association of Realtors.

Victoria Murphy, president-elect of the Santa Fe Association of Realtors and an associate broker at Santa Fe Properties, said the idea for the affordable-housing study began when the city proposed a 1 percent “transfer tax” on the sale of homes priced at $750,000 and up. Voters rejected the tax in 2009.

“Obviously, as Realtors, we were in opposition to that, but we did come to [the city] and say, ‘Look, we understand that there is a need here,’ and in that, we found out that at times the city didn’t know how many affordable homes they actually had,” she said. “So our thing was, ‘Let’s find a way that we can have a database that we can find out exactly what’s out there and what the needs are.’ ”

Murphy said her biggest surprise was finding out how many “stakeholders” are involved in affordable housing — not only the nonprofit housing groups, but also the many construction companies that specialize in affordable housing. An extensive list of stakeholders are included in the report.

Both the City Council and the County Commission recently lowered requirements for including affordable homes in new subdivisions. But Murphy said the report’s findings don’t suggest the need for further easing of affordable housing requirements.

“The whole idea is just saying, ‘OK, this is what we have out there,’ ” she said. “How can we start promoting this so we don’t have this perception that Santa Fe is unaffordable to our workforce?”

Santa Fe Home inventory down as families stay put

By Bruce Krasnow | The New Mexican  This article was syndicated from The New Mexican, click here for a copy of the original article.
Posted: Wednesday, January 18, 2012 -

Lower interest rates have boosted home ownership in Santa Fe, but they also have reduced sales inventory as more families refinance and stay put.

“A lot of times if it’s being refinanced, it comes off the market,” said Victoria Murphy, a broker with Santa Fe Properties who serves as president-elect of the Santa Fe Association of Realtors. “Sometimes it goes back on, other times they decide to wait [to sell].”

And refinance activity isn’t yet over, predicts Jeff Payne, a branch manager at Wells Fargo. He said the federal government will roll out a new program in February that should help those who owe banks more than a home is worth get in on fixed-rate home loans as low as 4 percent.

“We keep pinching ourselves to figure out if it’s real,” said Payne, who spoke to Santa Fe Realtors on Wednesday. “It’s real.”

Sharon Yermal, a Wells Fargo mortgage specialist, has seen many people who may want to sell but instead refinance to take advantage of lower rates. They do so with five-year adjustable-rate mortgages with the idea of lowering monthly payments now but with the intent of selling when the market recovers.

“Five years seems to be the timeline they’re looking at,” she said. “They’re not looking for it to happen in the next year or two.”

Sales figures released by the association Wednesday indicate that the inventory of properties for sale is down 30 percent from two years ago, while new listings are down 18 percent over the past 12 months.

At the same time, residential sales rose 10 percent in the fourth quarter and 2.4 percent in all of 2011 compared with 2010.

The median sales price in the city fell to $289,000 in 2011 from $300,000, a decline of 3.3 percent. In the city and county combined, the median price dropped to $349,000 from $354,000.

Median prices in Santa Fe are now at a seven-year low.

“I am absolutely surprised how many homes I’m seeing on the market for under $200,000,” Murphy said.

Santa Fe Market Report – The Santa Fe City North West Area

The North West city area of Santa Fe includes the popular and affordable neighborhood of Casa Solana.  Built in the 1950s and 1960s by the well known and locally beloved developer Allen Stamm, Casa Solana has beautiful mature trees, sidewalks and paved streets.  Residents enjoy a neighborhood pool and convenient shopping at the Solana Center.  Homes here have the Stamm traditional features of vigas, hardwood floors, fireplaces and solid construction.

As you travel down West Alameda, newly constructed homes appear on larger, more open tracts.  Homes begin to spread out a bit and horse farms emerge to dot the landscape.  Some lots in the hills offer 360 degree views, while others have a beautiful view of the Santa Fe city lights.

Along US Hwy 84/285 at the exit for the world renowned Santa Fe Opera is Monte Sereno, one of Santa Fe’s newer neighborhoods.  Homes here enjoy breathtaking views of the majestic Sangre de Cristo and Jemez Mountain ranges on lots averaging 1.7 acres.

The North West city area also includes Zocolo, a residential condominium community of casita-style homes centered around small plazas.


If you would like to know more about any of the homes for sale in the Santa Fe City Northwest Area, contact me or if you would like a free market analysis of your home contact me, Karen Meredith, Keller Williams, by e-mail or at (505) 603-3036. 

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Santa Fe Real Estate News – The Airport Road Area Neighborhood

The Airport Road neighborhood is located in the Southwest section of Santa Fe.  Airport Road was once a semi-rural road leading out to the Santa Fe Municipal Airport.  It is now an area of condos, town homes and single-family dwellings that looks more like other U.S. cities than any other part of Santa Fe.  Airport Road is also a commercial corridor through the Southwestern end of the city.  Roads along Airport Road are paved, most streets have sidewalks and most houses have garages. Prices for homes in the Southwest section of Santa Fe, including in the Airport Road neighborhood, tend to be somewhat lower than the rest of Santa Fe.

AIRPORT ROAD NEIGHBORHOOD HOMES FOR SALE

If you would like to know more about any of the homes for sale in the Airport Road neighborhood or for a free market analysis of your home, contact me, Karen Meredith, Keller Williams, by e-mail or at (505) 603-3036.  

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Housing market still flat in Santa Fe County, Sales on par with last year; home inventory down 14 percent

By Bruce Krasnow| The New Mexican, Posted: Wednesday, April 13, 2011.  This article is syndicated from The New Mexican, for a copy of the original article, click here.T

JoAnne Vigil Coppler has a short refrain for those waiting for the Santa Fe real-estate market to come back before trying to sell a house.

“It’s going to be a very, very long time, if ever,” said Coppler, Santa Fe Association of Realtors board president, who on Wednesday released sales data for the first quarter of 2011.

The data show the market slogging along with about the same number of home sales closed as last year, and a countywide median price of $355,000 for a single-family sale — a 2.7 percent decline from a year ago.

But the biggest surprise is the smaller inventory of homes on the market, a 14 percent drop from 2010. Some of this represents fewer foreclosures, which RealtyTrac reported this morning. It also could indicate the reluctance of longtime owners to sell at today’s market price.

“Sellers may be choosing to rent rather than put their houses up for sale in the competitive market,” Coppler said.

The lower inventory also has to do with a less mobile society, said veteran agent Lois Sury. “People aren’t moving for jobs, and those who need to sell a home to buy another can’t.”

That may be one reason many of the home-mortgage applicants coming into Santa Fe banks are first-time buyers, said Pam Trujillo, a lender with Community Bank in Santa Fe. Though paperwork and underwriting are tougher than ever, new buyers can go forward with a clean offer that is not contingent on a home sale.

“A lot more local people are looking to buy,” Trujillo said. “(For) those without a house to sell, there are less complications.”

With regard to foreclosures, Santa Fe’s lower numbers follow the rest of the U.S., which shows all foreclosure activities from default notices to auctions to bank sales are down from a year ago. The total foreclosure activity in Santa Fe at the end of March was the lowest since the first quarter of 2009 — and down 26 percent from December.

Highlights of the first quarter:

• There were 113 closed single-family home sales in the city, with a median price of $282,000 — a drop of 11.2 percent from a year ago.

• There were 96 closed sales in the unincorporated area, with a median price of $430,000 — an increase of 10.9 percent.

• There were 57 condo and townhouse sales in the quarter, with a median price of $255,000 — an 8.9 percent decline.

Santa Fe Real Estate News – Santa Fe City Southeast Area

The Southeast city area of Santa Fe includes Canyon Road, one of the most famous roads in the country for its art galleries, the picturesque Historic Eastside with its winding, narrow streets lined with some of Santa Fe’s oldest homes hiding behind adobe walls, South Capitol whose centerpiece is the Round House, Santa Fe’s state capitol building,  and St. Vincent Hospital, Santa Fe’s regional hospital.  The Southeast city area also contains  four world class museums on Museum Hill, which gives its name to the surrounding neighborhood of  larger homes on oversized lots.  Further out and near the boundary where the city of Santa Fe ends and Santa Fe County begins is Quail Run, a gated residential community with a nine hole golf course, health spa and restaurant.

Santa Fe Market Report
Featuring The Santa Fe City Southeast Area

Active SFAR Listings
All Santa Fe Listings (4/14/11)
Residential: 2215
Residential Land: 1486
Farm & Ranch: 122
Commercial Land: 64
Multi Family: 31
Commercia Buildings: 173
Live/Work: 21


The Santa Fe City Southeast Area Snapshot


Days on Market (DOM)
The Santa Fe City Southeast Area – Residential Sold*


Selling Price: % of List Price
The Santa Fe City Southeast Area – Residential Sold*

If you would like to know more about any of the homes for sale in the Santa Fe City Southeast Area, contact me, Karen Meredith, Prudential Santa Fe Real Estate, by e-mail or at (505) 603-3036. For a free market analysis of how much your Santa Fe City Southeast Area home is worth, click here.

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Santa Fe Real Estate News – The Bellamah Neighborhood

Santa Fe Market Report
Featuring The Bellamah Area


Active SFAR Listings
All Santa Fe Listings (3/10/11)
Residential: 2154
Residential Land: 1436
Farm & Ranch: 120
Commercial Land: 68
Multi Family: 31
Commercia Buildings: 164
Live/Work: 19


The Bellamah Area Snapshot


Days on Market (DOM)
The Bellamah Area – Residential Sold*


Selling Price: % of List Price
The Bellamah Area – Residential Sold*

BROWSE FOR BELLAMAH HOMES FOR SALE HERE

If you would like to know more about any of the homes for sale in the Bellamah neighborhood, contact me, Karen Meredith, Prudential Santa Fe Real Estate, by e-mail or at (505) 603-3036. For a free market analysis of how much your Bellamah neighborhood home is worth, click here.

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