Monthly Archives: July 2011

Recent Transactions

 

36 Vista Lagunitas

36 Vista Lagunitas, Santa Fe, New Mexico, Offering Price – $599,000, MLS # 201102611, 4 bedrooms, 4 baths, 2,900 square feet, Lot size 1.499 acres.  Represented the Seller.  Sold – 7/27/11.

 

41 Camino de Milagro

41 Camino de Milagro, Santa Fe, New Mexico, Offering Price – $635,000, MLS # 201006026, 3 bedrooms, 3 baths, 3,457 square feet, Lot Size 14.94 acres. Represented the Buyer. Sold – 6/23/11

 

138 East Santa Fe Avenue

138 East Santa Fe Avenue, Santa Fe, New Mexico, Offering Price – $443,000, MLS #201006182, a 2,159 square foot triplex and 140 East Santa Fe Avenue, Santa Fe, New Mexico, Offering Price – $352,000 MLS #201006188, a 1,760 sq. ft. duplex. Represented the Seller. Sold both – 3/29/11.

 

 

Santa Fe Neighborhoods – Focus on Bishops Lodge Road

Bishops Lodge Road

Make a left on Paseo de Peralta onto Washington Avenue near the massive, pink, iconic Scottish Rite Temple and you find yourself heading north from the Santa Fe Plaza along the old stagecoach road to the Village of Tesuque.  Soon Washington Avenue turns into Bishops Lodge Road.  This 5 mile drive to Tesuque is one of the prettiest and most relaxing drives in Santa Fe. You’ll pass scenic hillsides and enter a cottonwood shaded lush valley filled with orchards and horse farms.  Along the way you will see some of the most expensive luxury homes in the Santa Fe style peppering the hillsides.

The Bishops Lodge Road neighborhood is one of Santa Fe’s older neighborhoods.  Well established, many of these homes enjoy beautiful views of the Sangre de Cristo, Jemez, Ortiz and Sandia mountain ranges as well as city light views.  Tucked away on dirt roads and nestled in the hillsides, these homes have privacy, yet are only minutes away from the Plaza.

Residents of Bishops Lodge Road have easy access to hiking in the Santa Fe National Forest, which has 1,500 contiguous square miles of territory nearby.

Horseback riding at Bishop's Lodge Ranch Resort & Spa

Along the way to Tesuque you’ll pass the Bishop’s Lodge Ranch Resort & Spa, which was originally the home of Bishop Jean Baptiste Lamy.  Bishop Lamy was the first bishop appointed by the Vatican in 1850 for its newly created American southwest diocese, Vicariate of New Mexico.  He oversaw the creation of St. Francis Cathedral, at the end of East San Francisco Street, just off the Plaza, which he commissioned in 1869, and was very influencial in the development of Santa Fe and its surrounding areas in the mid 1800s.  The town of Lamy is named after Bishop Lamy for his work in bringing the railroad to that town and donating Church property for the railroad junction there.  Eventually becoming an Archbishop in 1875, Archbishop Lamy was the inspiration for the lead character in Willa Cather’s masterpiece, Death Comes for the Archbishop.

Bishop’s Lodge Resort’s website states:  “Lamy enjoyed having visitors out to his lodge and his many guests were invited to partake in the pleasure of his gardens, orchard, fish-pond and the natural serenity of his country estate. In time, the path out to the ranch became a road and led the city’s newspaper to remark, “Good work has been done on the Bishop’s ranch road. It forms one of the best rides out of the city. This is the work, we presume, of Bishop Lamy.”

The New Mexico Governor’s Mansion also resides just off Bishop’s Lodge Road on 1 Mansion Way.  It was built in 1954 and is 7,949 square feet.  Click here for more information about the New Mexico Governor’s Mansion.

The Hills at Bishop’s Lodge is a new 45 acre residential luxury home and condominium development with amenities that include swimming, tennis and riding trails.

If you would like to know more about any of the homes for sale in the Bishops Lodge Road neighborhood, contact me, Karen MeredithKeller Williams Realty, by e-mail or at (505) 603-3036. For a free market analysis of how much your Bishops Lodge Road neighborhood home is worth, click here.

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Santa Fe Market Report – The Bishops Lodge Road Area


Santa Fe Market Report
Featuring The Bishops Lodge Road Area


Active SFAR Listings
All Santa Fe Listings (7/13/11)
Residential: 2470
Residential Land: 1507
Farm & Ranch: 125
Commercial Land: 60
Multi Family: 30
Commercial Buildings: 169
Live/Work: 18


The Bishops Lodge Road Area Snapshot


Days on Market (DOM)
The Bishops Lodge Road Area – Residential Sold*


Selling Price: % of List Price
The Bishops Lodge Road Area – Residential Sold*

 

If you would like to know more about any of the homes for sale in the Bishops Lodge Road neighborhood, contact me, Karen Meredith, Keller Williams Realty, by e-mail or at (505) 603-3036. For a free market analysis of how much your Bishops Lodge Road neighborhood home is worth, click here.

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Hike in building permits issued in Santa Fe could point to economic recovery

By Trip Jennings | The New Mexican
Posted: Sunday, July 10, 2011

This article is syndicated from The New Mexican.  For a complete copy of the original article, click here.

It’s not quite time to cue up “Let the Good Times Roll,” Shirley and Lee’s 1950s R&B classic. But maybe the Beatles’ “Here Comes the Sun” will do the trick.

The number of building permits issued by the city of Santa Fe has increased in recent months, tempting local officials to wonder whether the local economy is rebounding.

Matthew O’Reilly, Santa Fe’s land-use director, wouldn’t go that far Thursday, but confirmed that city staff members handling building permits are busier than a year ago. Cautioning that they were preliminary numbers, O’Reilly predicted the number of city-issued building permits for the year that just ended June 30 would eclipse the previous year’s total by 36 percent.

“We’re seeing a lot of commercial permits, and that includes new construction and remodels. And we are seeing a lot of additions, remodels and alterations in residential construction,” O’Reilly said. “What we are not seeing is new home production building.”

John Di Janni, a local builder, can relate.

Di Janni, who has built custom homes in Santa Fe since 1977, finished his last home in 2008 after several years of juggling work on three to four new homes at a time.

“We haven’t built a house since then,” he said. “There are some people who are lucky to land a new house, but they are few and far between.”

Custom Homes by John Di Janni has survived on remodeling jobs and additions to existing homes since then. About a year ago, Di Janni noticed that the number of calls for such work began to increase, he said.

“People want to update their homes, new windows, new stuccos; rather than buying new, they are fixing up their houses, it seems to me,” he said.

Tax data appear to confirm the construction trend. Spending in the city of Santa Fe rose significantly in a year-to-year comparison between April 2010 and this past April, when the city reported $19 million in taxable receipts in the construction industry compared with $11 million in the previous year, according to information from the New Mexico Taxation and Revenue Department.

The gross-receipts tax is generally a good indicator of economic activity because it is a levy not only on the purchase of goods but also of services. And, generally, growth in taxable receipts usually means more revenue for the city. A clearer picture will emerge when numbers come in for the months of May and June, the last two months of the fiscal year.

Even though it was only a snapshot, tax data for the city of Santa Fe in April appear promising. Transactions in the city that were subject to the gross-receipts tax were $202 million, nudging past the $197 million reported in April 2010 and the $200 million recorded in April 2009. April is the latest month for which information was available.

Optimists might be tempted to point to a ongoing recovery, but the data aren’t so easily interpreted. Yes, local economic activity this April was slightly better in a year-to-year-comparison, but it is still well below matching pre-recession levels. The taxable portion of the gross-receipts tax in April 2008 was $222 million, well above this April’s figures.

There are other signs that the local economy hasn’t fully recovered.

Retail trade, Santa Fe’s major gross-receipts tax generator, appears to have stayed flat, if not dropped slightly, in recent years. Retail transactions subject to the tax dipped to $67.8 million this April, down from $68.8 million in April 2010. That compares unfavorably to the $73.5 million reported in April of 2008 and $68.2 million in April 2009.

The snapshot of the city’s economic activity seems to coincide with what’s happening in New Mexico overall.

According to a recent report by the Legislative Finance Committee, the Legislature’s budget arm, state tax revenues are greater than expected. Through April, the state received $87 million more than anticipated.

Receipts from the state’s corporate income tax showed big growth, coming in nearly 200 percent over last year’s levels, the report noted. But higher-than-anticipated rebates from the state’s film production tax credit program are expected to eat into that growth, the report said.

“An unexpected rush to receive film refunds before the new tax credit law takes effect in FY12 has pushed full-year credits to approximately $101 million compared to the forecast of $65 million,” according to the LFC. The rebates totaled $65.9 million in the state budget year that ended June 30, 2010.

The LFC’s report was issued July 1, the first day of the new state budget year. It was also the day the new law changing the state’s film production tax credit program took effect.

Santa Fe Market Report – The Airport Road Area

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.

Santa Fe Market Report
Featuring The Airport Road Area


Active SFAR Listings
All Santa Fe Listings (7/06/11)
Residential: 2448
Residential Land: 1497
Farm & Ranch: 127
Commercial Land: 59
Multi Family: 32
Commercial Buildings: 168
Live/Work: 18


The Airport Road Area Snapshot


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


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

 

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

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