Santa Fe, NM

Looking For a Home In Santa Fe With A 3 Car Garage? Stop Now!

Here is what the stats say about homes on the market with 3 car garages. There are currently 111 homes on the market with a 3 car garage. The story does not end there. The highest price home with a 3 car garage is $9,900,000 and the lowest priced is $259,000. But wait, the median asking price for a 3 car garage single family home in Santa Fe is $975,000. These numbers say that an affordable home in Santa Fe with a three car garage is RARE!

This property at 4225 Vuelta Colorada, Santa Fe, New Mexico is NOT a short sale or owned by a bank. It is just a rare opportunity. It is more than an affordable one level single family home with a 3 car garage waiting for a smart buyer to make a move. If you need extra space for an office or studio or workshop, now is the time to consider buying a 3 bedroom, 2 bath home with a finished 3 car garage. It is possible in Santa Fe today for under $260,000. If this sounds too good to be true, call us today to schedule an appointment and learn how this fine home can be your next move.

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When was the last time you did something for the first time? At least, that is what some of my garden plants are thinking today. It is January and they have decided to tell me it is spring with some new buds. How could this be happening? It appears my lilacs believe our winter in Santa Fe has indeed been a mild one. Is it mild enough to think differently now when it comes to gardening?

Fortunately, the US Department of Agriculture thinks something is changing. Using new mapping technology, the USDA has revised its plant hardiness zone map this year. This is the first time since 1990. By using weather data, the have created an interactive map by state, county and zip code level. This amazing resource now provides more than an estimate but exact information about the average coldest temperatures. Technology is becoming a new gardening tool too. Now I know something my lilacs knew. It feels like spring in Santa Fe for plants and real estate!

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It is January 2012 and already there are some new signs of life in our local Santa Fe real estate market. It looks like the answer to if not now, when? to buy, might just be now or very soon. After three years of the average home sale price steady at near $400,000, there does appear to be a trend of balance in play. In the last quarter of 2011, there were 22 home sales of over one million. And there were 3 sales of over three million. These were not new record numbers, but they have been a solid pattern. Home sales in the price range of below $150,000 have been consistently above average.

The stable sales in the high price range tell me confidence has returned to the Santa Fe real estate market. A second factor is always the number of homes sold in each quarter. Here again, there is balance and consistency through 2011 with an average of over 425 sales for each quarter. At the same time, our inventory of homes on the market is the lowest now since early 2006. Given the attraction of Santa Fe has not changed, it appears there is still pent up demand for the Santa Fe lifestyle from retiring baby boomers.

If not now, when is the question on every Santa Fe home buyer’s mind who is still sitting on the fence. As supply and demand come back into play in a more balanced market, the inventory of deals and good buys will be reduced. And over time, prices will change too if this is the start of new upward trend. So, if not now, when? is the question today for Santa Fe real estate buyers to answer.

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Do you love Art? Food? Wine? Fashion? Homes? Santa Fe? Then, it is time to mark your calendar now for the upcoming 15th Annual Santa Fe Art Feast weekend happening on February 24-26, 2012. Good things happen when a community supports the imagination of our youth. Your participation in ArtFeast benefits the nonprofit ArtSmart which has donated $972,000 to support visual art programs in Santa Fe. Perhaps this is why we continue to be a community where art makes a difference and imagination rules.

Tickets for the Edible Art Tour are available from www.ticketssantafe.com. The self-guided Home Tour is sponsored by Santa Fe Properties. The home tour is on Saturday and Sunday from noon to 4 PM and is free.

We are thrilled our livable sculpture home on at 7468 A Old Santa Fe Trail has been selected as one of Santa Fe’s most artistic and elegant homes on tour this year. We look forward to seeing you on tour and helping us make a difference for the kids in our community.
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November to November numbers always give me a good indicator as to any market shifts in play before the holidays, especially in Santa Fe real estate. Why? The holidays are when our city appears to just double in size with people. It feels like two months of Indian Market. Given this new landscape of real estate, it is important to step back and look at the numbers to get a handle on if what I see is actually really happening. From experience, it did appear home and land buyers were continuing to jump off the fence. In Santa Fe, this could be a coyote fence (shown here) which is not comfortable to be on in the first place. Here are is the number story for November 2011. If you are a buyer or seller still on the fence it is time to see what happened. Here are some important facts:

• The total home sales volume increase 12% from $38.1 million in Nov 2010 to $42.8 million in Nov 2011.
• The median price of homes in the city and Santa Fe County jumped EIGHT percent from $338,094 in Nov 2010 to $365,000 in Nov 2011.
• The median price of condo and townhome sales jumped 29% from $229, 000 in Nov 2010 to $290,000 in Nov 2011.
• The median price of land sales moved up 27% from $90,000 in Nov 2010 to $127,000 in Nov 2011.

What does this mean? Aside from all real estate everywhere being local, it does appear buyers of Santa Fe real estate are were more confident in the Santa Fe real estate market than 2010. This is good news for Santa Fe. It appears supply and demand is back and a normal market is taking shape. If you are a buyer or seller and now that it is mid-January, you might want to give me a call at 505-660-4541 to discuss your home buying or home selling plans for this new year. As Bob Dylan said, times are a changin!

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