Tag Archives: Karen Meredith Prudential Santa Fe Real Estate

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 Real Estate News – The Santa Fe City South East Area

Santa Fe Market Report
Featuring The Santa Fe City South East Area


Active SFAR Listings
All Santa Fe Listings (6/22/11)
Residential: 2434
Residential Land: 1519
Farm & Ranch: 127
Commercial Land: 57
Multi Family: 37
Commercial Buildings: 174
Live/Work: 18


The Santa Fe City South East Area Snapshot


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


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

Santa Fe Neighborhoods – Focus on Tesuque

Santa Fe Neighborhoods – Focus on Tesuque

Tesuque is a neighborhood located 5 miles north of Santa Fe, east of Highway 285 on Bishops Lodge Road.  Tesuque is known for its beauty, verdant landscape and traditional adobe structures.  Tesuque owes its grassy fields and leafy orchards to Tesuque Creek which runs the length of the village. Many acequias nourish the yards of the houses that line the creek, creating a green oasis in the middle of a high country desert.  Abundant trees such as cottonwoods along the banks of the creek provide residents with soothing cool shade in the summer.

At the 2000 Census, Tesuque had a population of 909 with 541 housing units in a  land area of 6.96 sq. miles giving it a population density of 130.61 people per square mile.  Tesuque has its own post office and an elementary school.  

Tesuque Village Market

 
Local Amenities and Attractions

The popular Tesuque Village Market sits in the center of the village.  Built to resemble a trading post and stocked with grocery items, it serves breakfast, lunch and dinner 7 days a week.  A fun feature about Tesuque Village Market is that for a $15 corkage fee you can  buy wine from the wine section inside the market and drink that wine at the restaurant.  Outdoor dinning on the porch (weather permitting) provides diners with entertaining people watching.  The breakfast burritos and green chile are particularly noteworthy at Tesuque Village Market and the pasteries are delicious.

Fresh pasteries at Tesuque Village Market

Tesuque’s other restaurant El Nido  has experienced a change of management.  On January 24, 2010 Dennis Dampf and Don Scharhag, who operated El Nido for 27 years under a lease agreement, ceased operations.  Owner Carlton Colquitt, a part-time Santa Fe resident who also resides in New York, has stated that he will reopen El Nido after a short hiatus. El Nido, built in the 1920s, has a colorful history.  It first started out as a roadhouse and dance hall and was reputed to have been a brothel at one point.  In the past El Nido was popular with opera goers due to its proximity to the Santa Fe Opera.

Tesuque is also home to one of the top bronze art foundries in the United States, Shidoni Foundry, which was established in 1971.  Shidoni pours 3,500 pounds of bronze per week to make their bronze sculptures.  Shidoni holds weekly public demonstrations on sculpture making. Call (505) 988-8001 for the pouring schedule and plan to arrive a little early.  The pouring starts when the bronze is heated to 2000 degrees and ready to be poured into ceramic shells, which can be up to half an hour before the scheduled time.

Glass Flowers

The foundry has an 8 acre outdoor sculpture gallery showcasing sculptures in styles ranging from contemporary to traditional as well as two indoor galleries. Also on site is the Shidoni Arts Gallery which features works in glass and wood and Tesuque Glassworks where visitors can watch daily glassblowing demonstrations.

Tesuque Pueblo lies north and west of Tesuque, just 9 miles north of Santa Fe.  Archeologists believe that this pueblo has existed since at least 1,200 A.D.  Comprised of just 424 residents, this tiny pueblo is one of the most traditional Tewa speaking pueblos, with a great reverence for its traditional religious ceremonies.  Their dances are known for their authenticity and costumes.  Public dances include the Kings Dance held in January, the Corn Dance held in June, Harvest Dance held in November and the Deer and Buffalo Dances held in December.  The pueblo is closed to the public during certain days of the year, so call the pueblo before planning to visit. (505) 983-2667.

Inside Tesuque Village Market

Tesuque Pueblo also operates the Tesuque Pueblo Flea Market, 6.5 miles north of Santa Fe, just off U.S. 84/285 at Exit 171, next to the Santa Fe Opera every weekend (Friday, Saturday and Sunday) from March to December.  Call (505) 670-2599 for more information

BROWSE HOMES FOR SALE IN TESUQUE HERE

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

Prices for homes in Tesuque currently range from the mid $400,000s to several million dollars.

Return to view more SANTA FE NEIGHBORHOODS

Santa Fe Market Report – The Tesuque – Chupadero Area

Santa Fe Market Report
Featuring The Tesuque/Chupadero Area


Active SFAR Listings
All Santa Fe Listings (6/08/11)
Residential: 2393
Residential Land: 1498
Farm & Ranch: 124
Commercial Land: 59
Multi Family: 38
Commercial Buildings: 173
Live/Work: 17


The Tesuque/Chupadero Area Snapshot


Days on Market (DOM)
The Tesuque/Chupadero Area – Residential Sold*


Selling Price: % of List Price
The Tesuque/Chupadero Area – Residential Sold*

BROWSE HOMES FOR SALE IN TESUQUE HERE

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

Prices for homes in Tesuque currently range from the mid $400,000s to several million dollars.

Return to view more SANTA FE NEIGHBORHOODS

Santa Fe Neighborhoods – Focus on the Old Las Vegas Highway Corridor

The Old Las Vegas Highway Corridor is located southeast of the Plaza on Old Las Vegas Highway and extends to Highway 285 South.  It is near the main hospital, St. Vincent Regional Medical Center, and many retail services.

Lots in this area, nestled in the foothills of the Sangre de Cristo Mountains, average between two and a half to approximately five acres depending on the community.  Although this area is only minutes from town, its feel is decidedly rural, and its views to the south and west are more expansive. Many horse properties are in this area and horse trails weave in and around many of those properties.  You can find a beautiful home with privacy and views here.  Neighborhoods  include Arroyo Hondo, Double Arrow, Overlook, Hondo Hills, Sunlit Hills, La Barberia, and Seton Village.  Housing is not uniform or cookie-cutter and the styles range from modest homes to elegant territorial and pueblo ranchs.  Arroyo Hondo, in particular, is known for its superior horse properties.

BROWSE HERE FOR HOMES FOR SALE ALONG THE OLD LAS VEGAS HIGHWAY CORRIDOR

If you would like to know more about any of the homes for sale in the Old Las Vegas Highway Corridor neighborhoods, 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 Old Las Vegas Highway Corridor neighborhood home is worth, click here.

RETURN TO VIEW MORE SANTA FE NEIGHBORHOODS 

Santa Fe Market Report
Featuring The OLVH Corridor Area


Active SFAR Listings
All Santa Fe Listings (5/25/11)
Residential: 2350
Residential Land: 1506
Farm & Ranch: 124
Commercial Land: 59
Multi Family: 36
Commercial Buildings: 173
Live/Work: 19


The OLVH Corridor Area Snapshot


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


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

Santa Fe Neighborhoods – Focus on Bellamah

Bellamah

The Bellamah neighborhood is located in the southwest section of the City of Santa Fe.  Its boundaries are, in general,  West Rodeo Road to the south, Richards Avenue to the west, Cerrillos Road to the northwest, Siringo Road to the north and Yucca Street to the east.

In 1959, the City of Santa Fe annexed 600 acres so that  Dale Bellamah, the famous residential real estate developer and builder from Albuquerque, could build this neighborhood.   Bellamah began building homes in Albuquerque in 1947.  A booming post-war housing market and aggressive advertising led to his success.   His company, Dale Bellamah Homes, ultimately developed subdivisions in Albuquerque, Las Cruces, Hobbs,  Alamogordo, Las Vegas, and Santa Fe, New Mexico, as well as El Paso, Texas.

The Bellamah neighborhood features affordable, rectangular, one-story, suburban homes with elements of Santa Fe style on wide, curvilinear streets.   The homes are known for their logical floor plans, flat or pitched roofs, garages or car ports, larger lot sizes and many practical conveniences.

Bellamah’s advertisements touted the modern conveniences built into each home, such as an attached garage or car port and a garbage disposal.   These homes were designed to appeal to median income families.  Brochures promised a  house with conveniences to save the homemaker from the “drudgery of household chores”, which would  free up the homemaker’s time for family, self-development, and community activities.

Herb Martinez Park

“Advertising high quality construction at a value price, Bellamah began offering a money back guarantee on all home sales.  .  .  These homes were meant to be domestic retreats for working class and middle class families, and Bellamah had no trouble selling them.”  Source:  Rocky Mountain Online Archive.

Residents of Bellamah enjoy the many parks in the area, including General Franklin E. Miles, which is one of the largest parks in the city. General Franklin E. Miles has basketball courts, volleyball sand pits, children’s playgrounds, a skateboard area and grass for picnics.  Francis X. Nava Elementary School sits at the edge of the park at 2655 Siringo Road.  The Herb Martinez Park has tennis courts, a cement outdoor hockey area, a baseball field and grass that is often filled with soccer players.

The city’s popular Arroyo Chamisa hiking/biking trail is located in Bellamah, which runs from Rodeo Road past the Monica Lucero Park on Avenida de las Campanas and then passes across Camino Carlos Rey and ends at Yucca Street.   The Santa Fe University of Art and Design  borders the Bellamah neighborhood to the northeast.

 

Arroyo Chamisa hiking/biking trail

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.

Return to view more SANTA FE NEIGHBORHOODS

1018 Calle de Suenos

 

 

 

Currently I have one home for sale in Bellamah:

1018 Calle De Suenos, Santa Fe, NM  87507 

MLS # 201100860, $165,000

3 Bedrooms, 1 Bath, 1,178 sq. ft., Lot size .140 acres

Terrific opportunity to buy in an established neigborhood with large lot and room to expand or garden. This property has three bedrooms, one bath with large backyard, covered portal and two storage units in backyard. Kitchen and bath have been updated.  Conveniently located to shops and parks.  Flooring needs some TLC.   Listing Agents:  Renee Edwards and Karen Meredith, Prudential Santa Fe Real Estate,  505-603-3036.

Santa Fe Market Report – The Bellamah Area

Santa Fe Market Report
Featuring The Bellamah Area


Active SFAR Listings
All Santa Fe Listings (5/18/11)
Residential: 2313
Residential Land: 1482
Farm & Ranch: 124
Commercial Land: 60
Multi Family: 37
Commercial Buildings: 176
Live/Work: 20


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.

RETURN TO VISIT MORE SANTA FE NEIGHBORHOODS

Santa Fe Real Estate News – The Bishops Lodge Road Neighborhood

Santa Fe Market Report
Featuring The Bishops Lodge Road Area


Active SFAR Listings
All Santa Fe Listings (5/04/11)
Residential: 2266
Residential Land: 1476
Farm & Ranch: 122
Commercial Land: 63
Multi Family: 32
Commercia Buildings: 170
Live/Work: 19


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*

BROWSE HOMES FOR SALE ON BISHOPS LODGE ROAD

If you would like to know more about any of the homes for sale in the Bishops Lodge Road 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 Bishops Lodge Road neighborhood home is worth, click here.

Return to view more  SANTA FE NEIGHBORHOODS

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.

Santa Fe Market Report
Featuring The Airport Road Area


Active SFAR Listings
All Santa Fe Listings (4/27/11)
Residential: 2265
Residential Land: 1507
Farm & Ranch: 123
Commercial Land: 63
Multi Family: 31
Commercia Buildings: 168
Live/Work: 18


The Airport Road Area SnapshotThe Airport Road Area – Residential Sold*


Days on Market (DOM)


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

BROWSE AIRPORT ROAD NEIGHBORHOOD HOMES FOR SALE HERE.

If you would like to know more about any of the homes for sale in the Airport Road 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 Airport Road neighborhood home is worth, click here.

RETURN TO VIEW MORE SANTA FE NEIGHBORHOODS

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.