Tag Archives: Santa Fe Real Estate Sales

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

Santa Fe area home sales up, while median prices decline

By Chris Quintana | The New Mexican
Posted: Thursday, July 12, 2012, this article was syndicated from The New Mexican, click here for the original article

The median sales price for homes in the Santa Fe area — including both the city and the county — dropped 6.8 percent between the second quarter of 2011 and the second quarter of 2012, the Santa Fe Association of Realtors reported Thursday.

The median sales price in the combined city and county data for the second quarter of 2011 was $359,000 compared to $334,450 for the first quarter of 2012.

Dan Wright, 2012 president of the Santa Fe Association of Realtors, attributed that change to the gradual drop in the market since the peak in 2007, when the median price hit about $420,000.

“We’re at the tail end of the decline in the market,” he said. “Personally, I don’t think it will continue to go down at this point.”

The total number of homes sold in the second quarter rose by 5.6 percent, from 318 units in 2011 to 336 units in 2012.

But the total value of those home sales sank from $151.9 million in 2011’s second quarter to $144.9 million in 2012’s second quarter, which Wright said creates a more advantageous market for buyers.

Second-quarter sales of condos and townhomes also rose, to 74 units from 60 units. The median price rose from $237,188 to $245,000. Wright said low interest rates may have helped boost the market.

“The Santa Fe housing market is picking up with sales modestly over last year,” he said. “The historically low interest rates are helping to get buyers motivated.”

The inventory of available homes sank by 15 percent in comparison to the second quarter of last year. Coleen Dearing, vice president of the association, said that can be attributed to people pulling their homes off the market or people who have decided to take advantage of low refinancing rates. Dearing also said the increase in home sales has affected the inventory rate.

Also notable, the number of young homeowners, in the 23 to 25 age range, has risen for the first time in five years, according to Gilbert Garcia, a mortgage professional with Century Bank. He said organizations that can help lower the down payment, such as the New Mexico Mortgage Finance Authority or the Santa Fe Housing Trust, coupled with low mortgage rates, have helped young people get into the housing market.

Garcia added that banks are indeed lending, though the process requires more documentation of financial information than in years past.

“It’s not harder,” he said. “It’s just more.”

Garcia also said banks in the area have seen the foreclosure rate slow down while the refinancing of mortgages and new purchases of homes have been on the rise.

“The number of foreclosures is not leveling off, but it’s slowed down a bit,” he said. “But it’s going to get tougher before it gets easier.”

 

 

Recent Transactions

Below is a summary of some of my recent sales where I represented the Seller or the Buyer:

17 Los Ojitos, Santa Fe, NM 87506, Offering Price – $169,000, MLS # 201105094, 3 Bedrooms, 2 Baths, 1,938 Sq. Ft., Lot Size, .29 acres,  Represented the Seller and the Buyer.  Sold 6/27/12.

6600-6700 Cerrillos Road, Santa Fe, NM 87507, Offering Price – $1,995,000, MLS #201001373, 12,000 sq. ft., Lot Size 24,363 Sq. Ft. Commercial.  Represented the Seller and the Buyer.  Sold 6/6/12.

734 Porvenir, Santa Fe, New Mexico 87501, Offering Price – $225,000, MLS # 201201321, 3 Bedrooms, 2 Baths, 1,348 Sq. Ft., Lot Size .014 acres.  Represented the Seller.  Sold 5/29/12.

21 Ceramic Court, Santa Fe, New Mexico 87508, Offering Price$245,000. MLS # 201104457, 3 Bedrooms, 2 Baths, 1,943 Sq. Ft., Lot Size 2.46 acres.  Represented the Seller.  Sold 5/03/12.

06 Las Joyas, Santa Fe, New Mexico  87506, Offering Price – $899,000. MLS # 201201592, 4 Bedrooms, 4 Baths, 4,837 Sq. Ft., Lot Size 2.66 acres. Represented the Seller and the Buyer. Sold 4/16/12.

3148 La Paz Lane, Santa Fe, New Mexico 87507, Offering Price – $225,000. MLS #702402, 2 Bedrooms, 2 Baths, 1,230 Sq. Ft.  Represented the Seller. Sold 3/26/12.

71 Star Dancer Trail, Santa Fe, NM  87506, Offering Price – $649,000.  MLS #201100993, 3 Bedrooms, 2 baths, 2,630 Sq. Ft. Represented the Buyer.  Sold 3/15/12.

2308 Calle Pacifica, Santa Fe, New Mexico  87505, Offering Price – $249,500, MLS # 201104870, 3 Bedrooms, 2 Baths, 1,753 square feet.  Lot Size .19 acres.  Represented the Seller.  Sold – 02/07/12.

18 Primrose, Santa Fe, New Mexico 87506, Offering Price – $869,000, MLS # 201005531, 3 Bedrooms, 3 Baths, 3,300 Square Feet, Lot Size 1.5 acres.  Represented the Buyer.  Sold – 01/10/12.

1405 Vegas Verdes #105, Santa Fe, New Mexico, Offering Price $120,000, MLS # 201104936, 1 Bedroom, 2 Baths, 874 square feet.  Represented the Seller. Sold 11/30/11.

47 Bouquet Lane, Santa Fe, New Mexico, Offering Price – $355,000, MLS # 201104078, 4 Bedrooms, 2 Baths, 2,487 square feet, Lot Size .8 acres.  Represented the Buyer and the Seller.  Sold 11/03/11.

2924 Pueblo Pintado, Santa Fe, New Mexico, Offering Price – $220,000, MLS # 201105107, 3 Bedrooms, 2 Baths, Lot Size .13 acres.  Represented the Seller.  Sold – 10/31/11.

621 Old Santa Fe Trail, Santa Fe, New Mexico, Offering Price – $1,380,000, MLS # 201103504, 8,700 square feet. Commercial. Represented the Buyer. Sold 09/09/11.

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, 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, 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.

Recent Transactions

Below is a summary of some of my recent sales where I represented the Seller or the Buyer:

6600-6700 Cerrillos Road, Santa Fe, NM 87507, Offering Price – $1,995,000, MLS #201001373, 12,000 Sq. Ft., Lot Size 24,363 Sq. Ft. Commercial.  Represented the Seller and the Buyer.  Sold 6/6/12.

734 Porvenir, Santa Fe, New Mexico 87501, Offering Price – $225,000, MLS # 201201321, 3 Bedrooms, 2 Baths, 1,348 Sq. Ft., Lot Size .014 acres.  Represented the Seller.  Sold 5/29/12.

21 Ceramic Court, Santa Fe, New Mexico 87508, Offering Price$245,000. MLS # 201104457, 3 Bedrooms, 2 Baths, 1,943 Sq. Ft., Lot Size 2.46 acres.  Represented the Seller.  Sold 5/03/12.

06 Las Joyas, Santa Fe, New Mexico  87506, Offering Price – $899,000. MLS # 201201592, 4 Bedrooms, 4 Baths, 4,837 Sq. Ft., Lot Size 2.66 acres. Represented the Seller and the Buyer. Sold 4/16/12.

3148 La Paz Lane, Santa Fe, New Mexico 87507, Offering Price – $225,000. MLS #702402, 2 Bedrooms, 2 Baths, 1,230 Sq. Ft.  Represented the Seller. Sold 3/26/12.

71 Star Dancer Trail, Santa Fe, NM  87506, Offering Price – $649,000.  MLS #201100993, 3 Bedrooms, 2 baths, 2,630 Sq. Ft. Represented the Buyer.  Sold 3/15/12.

2308 Calle Pacifica, Santa Fe, New Mexico  87505, Offering Price – $249,500, MLS # 201104870, 3 Bedrooms, 2 Baths, 1,753 square feet.  Lot Size .19 acres.  Represented the Seller.  Sold – 02/07/12.

18 Primrose, Santa Fe, New Mexico 87506, Offering Price – $869,000, MLS # 201005531, 3 Bedrooms, 3 Baths, 3,300 Square Feet, Lot Size 1.5 acres.  Represented the Buyer.  Sold – 01/10/12.

1405 Vegas Verdes #105, Santa Fe, New Mexico, Offering Price $120,000, MLS # 201104936, 1 Bedroom, 2 Baths, 874 square feet.  Represented the Seller. Sold 11/30/11.

47 Bouquet Lane, Santa Fe, New Mexico, Offering Price – $355,000, MLS # 201104078, 4 Bedrooms, 2 Baths, 2,487 square feet, Lot Size .8 acres.  Represented the Buyer and the Seller.  Sold 11/03/11.

2924 Pueblo Pintado, Santa Fe, New Mexico, Offering Price – $220,000, MLS # 201105107, 3 Bedrooms, 2 Baths, Lot Size .13 acres.  Represented the Seller.  Sold – 10/31/11.

621 Old Santa Fe Trail, Santa Fe, New Mexico, Offering Price – $1,380,000, MLS # 201103504, 8,700 square feet. Commercial. Represented the Buyer. Sold 09/09/11.

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, 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, 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.

Recent Transactions

Below is a summary of some of my recent sales where I represented the Seller or the Buyer:

734 Porvenir, Santa Fe, New Mexico 87501, Offering Price – $225,000, MLS 201201321, 3 Bedrooms, 2 Baths, 1,348 Sq. Ft., Lot Size .014 acres.  Represented the Seller.  Sold 5/29/12.

21 Ceramic Court, Santa Fe, New Mexico 87508, Offering Price$245,000. MLS # 201104457, 3 Bedrooms, 2 Baths, 1,943 Sq. Ft., Lot Size 2.46 acres.  Represented the Seller.  Sold 5/03/12.

06 Las Joyas, Santa Fe, New Mexico  87506, Offering Price – $899,000. MLS # 201201592, 4 Bedrooms, 4 Baths, 4,837 Sq. Ft., Lot Size 2.66 acres. Represented the Seller and the Buyer. Sold 4/16/12.

3148 La Paz Lane, Santa Fe, New Mexico 87507, Offering Price – $225,000. MLS #702402, 2 Bedrooms, 2 Baths, 1,230 Sq. Ft.  Represented the Seller. Sold 3/26/12.

71 Star Dancer Trail, Santa Fe, NM  87506, Offering Price – $649,000.  MLS #201100993, 3 Bedrooms, 2 baths, 2,630 Sq. Ft. Represented the Buyer.  Sold 3/15/12.

2308 Calle Pacifica, Santa Fe, New Mexico  87505, Offering Price – $249,500, MLS # 201104870, 3 Bedrooms, 2 Baths, 1,753 square feet.  Lot Size .19 acres.  Represented the Seller.  Sold – 02/07/12.

18 Primrose, Santa Fe, New Mexico 87506, Offering Price – $869,000, MLS # 201005531, 3 Bedrooms, 3 Baths, 3,300 Square Feet, Lot Size 1.5 acres.  Represented the Buyer.  Sold – 01/10/12.

1405 Vegas Verdes #105, Santa Fe, New Mexico, Offering Price $120,000, MLS # 201104936, 1 Bedroom, 2 Baths, 874 square feet.  Represented the Seller. Sold 11/30/11.

47 Bouquet Lane, Santa Fe, New Mexico, Offering Price – $355,000, MLS # 201104078, 4 Bedrooms, 2 Baths, 2,487 square feet, Lot Size .8 acres.  Represented the Buyer and the Seller.  Sold 11/03/11.

2924 Pueblo Pintado, Santa Fe, New Mexico, Offering Price – $220,000, MLS # 201105107, 3 Bedrooms, 2 Baths, Lot Size .13 acres.  Represented the Seller.  Sold – 10/31/11.

621 Old Santa Fe Trail, Santa Fe, New Mexico, Offering Price – $1,380,000, MLS # 201103504, 8,700 square feet. Commercial. Represented the Buyer. Sold 09/09/11.

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, 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, 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.

First Quarter 2012 – Santa Fe Home Sales Are Up While Inventory Is Down

According to the latest figures from the Santa Fe Association of Realtors, the number of sales is up and the number of properties for sale is down.   During the first three months of 2012, there were 249 sales of single-family homes in the City and County of Santa Fe, up 16.4 percent from 214 sales in the City and County of Santa Fe in first three months of 2011.  The inventory of all available properties for sale during the last quarter was 1,413, down 17.1 percent from the first quarter of 2011, which was down 17.2 percent from the first quarter of 2010.

During a presentation Wednesday, April 11, 2012, association officers said the statistics from the first quarter of 2012 show:

• Santa Fe housing prices remain low, compared to their high point in the second quarter of 2008.

• The upswing in the number of sales is due to low prices, low interest rates and buyer concerns that both prices and rates could  soon go up.

• Fewer properties are on the market which may be due to sellers taking advantage of low interest rate to refinance, allowing them to hold off in hopes that sales prices will improve.

“There’s a substantial uptick in the number of people looking for houses and some increase in the number of sales,” said association President Dan H. Wright.

Association President-elect Victoria Murphy, added that a number of people from out of state who had been looking for a home in Santa Fe recently have decided to go ahead with purchasing because they think both prices and interest rates soon will rise.

The median sales price of a single-family dwelling in both the city and county in the first quater of 2012 was $352,000, which is down less than 1 percent from $355,000 in the first quarter of 2011.  In a press release accompanying the first quater data Mr. Wright observed, “The Santa Fe single family housing market continues to stablize when you look at prices with sales up modestly over last year.”

Santa Fe Realtors Association officers say if the inventory of available housing continues to fall, it will push the median prices up.

The recent figures also show a 8.4% decrease in the number of days properties remain on the market, 247 days, compared to 270 days a year earlier.


Recent Transactions

Below is a summay  of my most recent transactions where I represented the buyer or seller:

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

Purchase to include #’s 136, 136 1/2, 138, 138 1/2, and 140 E. Santa Fe Ave. Investors don’t miss this opportunity to own a triplex and a duplex in a great location with a proven rental history.

One building is a charming vintage Victorian brick two-story house, the other a Pueblo style two-story house with a laundry room and storage room.

1 block to State Capitol, walking distance to Plaza. Front building contains Units 136,138 and 138 1/2 with a combined 2,159 sq. ft. Units 136 1/2 and 140 and the laundry room in the back building have a combined 1,760 sq. ft. Beautiful shared courtyard garden. Shared driveway.  Profit/Loss statement available upon request.

Interested in South Capitol homes for sale? Call Karen Meredith, Keller Williams at 505-603-3036.

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.

RETURN TO VISIT MORE SANTA FE NEIGHBORHOODS

Santa Fe Market Report – the Historic East Side Neighborhood

Santa Fe Market Report
Featuring The Santa Fe East Side Area


Active SFAR Listings
All Santa Fe Listings (1/26/11)
Residential: 2145
Residential Land: 1425
Farm & Ranch: 113
Commercial Land: 63
Multi Family: 30
Commercia Buildings: 172
Live/Work: 20


The Santa Fe East Side Area Snapshot


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


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

BROWSE HISTORIC EASTSIDE HOMES FOR SALE HERE

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

Return to view more SANTA FE NEIGHBORHOODS

4th QUARTER 2010 – HOME SALES SLOW WHILE MEDIAN PRICE HOLDS STEADY

City and County of Santa Fe home sales slowed from 274 in the 4th Quarter of 2009 to 227 in the 4th Quarter of 2010. The overall median price of homes in the City and County during the 4th Quarter held steady showing a modest increase to $340,000 in the 4th Quarter of 2010 from $335,000 in the same quarter of last year. The volume of home sales was off only $18M or $129M in the 4th Quarter of 2009 compared to $111M in 2010.
 
Condo and townhome sales rose in sales from last year with 60 sales in the 4th Quarter of 2009 and 76 in the same Quarter of 2010; however, the median price dipped from $250,000 in the 4th Quarter of 2009 to $232,500 or an 8% drop in the same Quarter of 2010. Land sales slowed from 43 in the 4th Quarter of 2009 to 32 in the most recent 2010 Quarter with prices down from a median of $160,000 in 2009 to a median of $134,500 in 2010.
 
  “While Santa Fe City and County single family home sales slowed in the 4th Quarter, condo and townhome sales showed a modest increase perhaps the first signs of the return of the second home market,” stated JoAnne Vigil Coppler, 2011 President of the Santa Fe Association of REALTORS®. “Sluggish sales in the 4th Quarter generally reflected the mood of the country as we settled in for the national Election results. More recently the market has shown an upswing of activity and buyer interest especially when interest rates began to inch up,” she added. 

“With a seasonal drop in inventory, single family home sales have slowed with values holding steady in our housing market,” said Ms. Coppler. “Buyers who are watching the market closely; particularly the increase in interest rates and stabilization of several federal tax policies, are beginning to move off the fence,” she noted.

 

The median sales price is determined from only those sales listed on the Santa Fe Association of REALTORS® Multiple Listing Service, which does not include every sale in the area but has been used historically to track trends in the home buying market.