Tag Archives: Santa Fe Real Estate Market

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:

 

 

 

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:

 

 

 

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 Real Estate News – the Eldorado and Ranch Road Neighborhood

Santa Fe Market Report
Featuring The Eldorado / Ranch Road Area


Active SFAR Listings
All Santa Fe Listings (3/03/11)
Residential: 2131
Residential Land: 1424
Farm & Ranch: 117
Commercial Land: 67
Multi Family: 29
Commercia Buildings: 160
Live/Work: 19

 
The Eldorado / Ranch Road Area SnapshotThe Eldorado / Ranch Road Area – Residential Sold*


Days on Market (DOM)


Selling Price: % of List Price
The Eldorado / Ranch Road Area – Residential Sold*

BROWSE HOMES FOR SALE IN THE ELDORADO AND RANCH ROAD NEIGHBORHOOD HERE.

Ifyou would like to know more about any of the homes for sale in the Eldorado and Ranch 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 Eldorado and Ranch Road neighborhood home is worth, click here.

RETURN TO VIEW MORE SANTA FE NEIGHBORHOODS.

Santa Fe Real Estate News – South Capitol Area

Santa Fe Market Report
Featuring The South Capitol Area

Active SFAR Listings
All Santa Fe Listings (10/27/10)
Residential: 2663
Residential Land: 1472
Farm & Ranch: 117
Commercia Buildings: 199
Commercial Land: 73
Live/Work: 17
Multi Family: 36

The South Capitol Area Snapshot
Residential Listings (10/27/10)
Active: 68
Pending: 13
Sold: 59*
  Average DOM: 216*
  Average Listing Price: $523,786*
     Average Listing Price Per Sq.ft: $270*
  Average Selling Price: $487,410*
     Average Selling Price Per Sq.ft.: $252*
  % of List Price: 93%*

*Sold (10/28/09-10/27/10)

Days on Market (DOM)
The South Capitol Area – Residential Sold*
Days on the Market

Selling Price: % of List Price
The South Capitol Area – Residential Sold*
Percentage of asking price

MLS Comparison, Sales Year To Date
The South Capitol Area – Residential – 2009 v. 2010
(1/1/09-10/28/09) – (1/1/10-10/27/10)
Year to Date Comparison

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

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Housing market still breathing in city as foreclosure freeze sets in

By Bruce Krasnow | The New Mexican
Posted: Wednesday, October 13, 2010  This article was syndicated from The New Mexican, click here for the original article.

Flat may be the new up for the Santa Fe home market, as increased sales in the city were offset in the third quarter by sharply lower volume in the unincorporated area, according to data released Wednesday.

In the third quarter of 2010, sales in the city of Santa Fe increased slightly to 145 single-family units from 135 as the median sales price rose 11 percent to $318,000. Single-family transactions in the unincorporated area fell 61 percent to 87. The median price in the county fell slightly to $389,000 from a year ago, according to the Santa Fe Association of Realtors.

Donna Reynolds, executive director of the association, said the county decline is likely because of more expensive housing in outlying areas, while the price points now selling are largely in city neighborhoods. “Even with the tax break expiring, it’s amazing to see we’re holding steady,” she said.

More telling might be the dollar volume of transactions, which fell 17 percent from 2009. That number, about $118 million for the recent quarter, represents dollars that ripple through the economy to brokers, title agents, surveyors, appraisers, loan officers and inspectors.

Still, as the expiration of the homebuyer tax credit has pushed prices and sales down nationally, the Santa Fe data shows the market here is still breathing — especially for buyers who can tap into record-low interest rates.

“With record-low interest rates and a growing inventory of homes in all price ranges, buyers are still in the driver’s seat,” added JoAnne Vigil Coppler, president-elect of the Santa Fe Association of Realtors.

But it may also be that inventory — and what some call the “shadow inventory” of distressed and foreclosed homes still to enter the market — will be the biggest headwind for sellers in the coming year. And it is also affecting those looking to refinance properties, said one broker, as appraisals may not sustain an expected value.

September saw more than 1,700 active listings — up 5 percent from a year ago and 25 percent from June, when people ready their homes for the busy summer season, according to the association.

And in the $1 million-plus price range, just seven homes on average are selling a month, with 330 listed for sale, according to Alan Ball, who blogs on the Santa Fe real-estate market.

And no one can rightly assess the continuing foreclosure issues, which now have many lenders freezing repossessions because of disputed paperwork.

“There are many homeowners that lenders are just now beginning foreclosure activity against. Some may be going into default now for the first time, while others may have been past due for many months already. Since the number of ‘problem’ loans (however you define the word) is increasing, it is difficult to expect overall improvement,” Ball said in a blog post last month.

“Sales, slightly improved over last year, are not keeping pace. Bottom line: We are only marginally better off than at the worst of the downturn around the summer of 2009,” Ball added.

A new report this morning from RealtyTrac indicates several surrounding states are still reeling from foreclosures, with Nevada, Arizona and California at the top nationally. New Mexico is ranked 29, with more than 3,000 properties having seen some foreclosure activity — that’s down 8.1 percent from the second quarter of 2010, but up 48 percent from a year ago.

And some of the foreclosure snafus are hitting Santa Fe, said Steve Riemann, area manager for Fidelity National Title, who attended the Association of Realtors briefing.

Riemann said he is seeing 10 percent of all sales having some foreclosure action, and one closing last week was canceled while in progress by a bank that could not guarantee a deed.

“It was right in my closing room,” he said. “This is a legal battle that consumers need to be aware of.”

Still, for those who can borrow money, it is and will remain a buyer’s market, said Riemann, who has a home under contract himself. One indication of the market instability, he said, is that for the first time he can remember about 20 percent of the sales contracts never go to closing. He speculated that might be because of credit problems, home-appraisal or pricing disputes, and the large inventory that could lead buyers elsewhere.

Santa Fe Real Estate News – Eldorado at Santa Fe

Santa Fe Market Report
Featuring The Eldorado Area

Active SFAR Listings
All Santa Fe Listings (8/5/10)
Residential: 2841
Residential Land: 1569
Farm & Ranch: 109
Commercia Buildings: 207
Commercial Land: 75
Live/Work: 21
Multi Family: 37

Eldorado Area Snapshot
Residential Listings (8/5/10)
Active: 138
Pending: 12
Sold: 136*
  Average DOM: 156*
  Average Listing Price: $384,305*
     Average Listing Price Per Sq.ft: $188*
  Average Selling Price: $367,286*
     Average Selling Price Per Sq.ft.: $180*
  % of List Price: 96%*

*Sold (8/6/09-8/5/10)

Days on Market (DOM)
Eldorado Area – Residential Sold*
Days on the Market

Selling Price: % of List Price
Eldorado Area – Residential Sold*
Percentage of asking price

MLS Comparison, Sales Year To Date
Eldorado Area – Residential – 2009 v. 2010
(1/1/09-8/6/09) – (1/1/10-8/5/10)
Year to Date Comparison

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

Return to view more Santa Fe Neighborhoods