July 2014 Home Sales

Real Estate by the Numbers

By Abigail Davidson   CRS, ABR, SRES, CLHMS, CNE
Broker Associate, Sotheby’s International Realty

The following information has been compiled to provide you with updated information on sales in Santa Fe and its surrounding areas for July, 2014. These statistics are for all Santa Fe residential home sales including single-family homes, condos, and townhomes.

There were a total of 170 home sales in July, up from June, which was 161.  Prices ranged from $65,900 to $2,625,000.  Total sales volume for July was $74,319,368, up from June which was $67,022,452.  The average sold to list price was 96.73 percent. 37 percent of the sales were cash transactions. These transactions accounted for 40 percent of the total sales volume.

The average sales price in July was $437,172, up from June, which was $416,288. The median sales price for July was $345,000, up from June’s median of $310,000.  The average number of days on the market in July was 168 and June’s was 188.

Here is how number of sales per price-band reported in July 2014:

  • 86 homes sold for under $350,000
  • 39 homes sold from $350,001 to $500,000
  • 35 homes sold from $500,001 to $1,000,000
  • 10 homes sold from $1,000,001 to $2,625,000

There was an increase in sales in the $350,000 – $1,000,000+ ranges.

 

Finding the Right Family Home

By Ron Blessey, Private Mortgage Banker, Wells Fargo Home Mortgage
NMLS ID # 214672

The goal of all parents is to provide a stable home environment for their children. Finding the right home configuration with all the features that fit the family’s lifestyle can be a process. Some buyers look at many homes over a period of months to find the perfect nest for their family.

These days it is not unusual for both parents to work. In some cases, both parents are salaried employees and receive a specific income every month for the services they provide their employer. In other cases one or both parents are self-employed. In that case, a two year average of their income is needed. And, of course, there could be a combination of salaried and self-employment income for me to document for my underwriter.

All good and responsible parents keep excellent records of all their financial documentation. When presented with the list I compile of the documentation I need, it is easy for the borrowers to collect what they have on hand and supply it to me for my file. I can then provide a program tailored to their needs and qualifications, as this is one of the most important parts of my job.

Much like a parent, I listen intently to what my clients want in the way of a mortgage and advise them on how they can qualify for those terms. The initial interview I conduct provides me with the information I need to make a determination for that client. On the other side of this process are the borrowers who should always articulate their wants and needs. Never shy away from asking questions throughout the process; after all, borrowing money to buy or refinance a home is an educational exercise.  Part of my job is to educate borrowers in how the process works and why we ask for documentation throughout the process, which is an integral part of getting loan approval.

At the successful closing of every loan I produce I can look back with satisfaction knowing I have done my job to the utmost and provided those clients with a loan that has met their expectations.

June 2014 Home Sales

Real Estate by the Numbers

By Abigail Davidson CRS, ABR, SRES, CLHMS, CNE, Broker Associate, Sotheby’s International Realty

The following information has been compiled to provide you with updated information on sales in Santa Fe and its surrounding areas for June, 2014. These statistics are for all Santa Fe residential home sales including single-family homes, condos, and townhomes.

There were a total of 161 home sales in June up from May’s total of 138.  Prices ranged from $29,900 to $3,475,000.  Total sales volume for June was $67,022,452, up from May’s figure of $59,624,461.  The average sold to list price was 95.81 percent. 43 percent of the sales were cash transactions. These transactions accounted for 52 percent of the total sales volume.

The average sales price in June was $416,288, down slightly from May’s figure of $432,061. The median sales price for June was $310,000, up from May’s median of $293,337.  The average number of days on the market in June was 188 and May’s was 171.

Here is how number of sales per price-band reported in June 2014:

  • 97 homes sold for under $350,000
  • 24 homes sold from $350,001 to $500,000
  • 33 homes sold from $500,001 to $1,000,000
  • 7 homes sold from $1,000,001 to $3,475,000

 

Considering a Move?

By Ron Blessey, Private Mortgage Banker, Wells Fargo Home Mortgage
NMLSR ID 214672

When Horace Greeley purportedly uttered “Go West Young Man,” he may have planted the seed for those who seek to visit Santa Fe as a vacation destination today. Invariably, visitors to our great city fall in love with the beauty and ambiance and decide to relocate here. Real Estate prices are very attractive right now. That, coupled with desirable interest rates and loan programs that I can offer, make now the perfect time to make a move.
I have many loan programs available in the Private Mortgage Bank that offer some very creative financing solutions for not only high-net worth borrowers but anyone else considering a move here.
One program of note is our Asset Dissipation Program. I can take a borrower’s assets and do a depletion calculation over 15 years to come up with qualifying income. This is a great alternative for recent retirees who may have deferred receiving certain streams of retirement income until later in the future.  Those individuals may have a less than qualified income stream at the present; however, a substantial asset portfolio can be the source of qualifying income for that borrower. I will consult with one of our in-house Financial Advisors to assess and formulate a plan that is specific to that borrower’s needs.
In this current environment, each borrower’s financial situation can present a variety of challenges that requires the expertise of analyzing tax returns, asset statements, and other forms of documentation to present the file in the acceptable format per our underwriting guidelines that will result in an underwriting approval.
I am very proud to be a part of the strong Wells Fargo brand. This collaboration gives me the ability to be extremely creative in putting together custom-tailored loan packages specifically suited to any qualified borrower.
As a member of the Wells Fargo team, I share the vision that we want to satisfy all our customers’ financial needs and help them succeed financially.

Homes with History – Rancho Viejo County Road 142, Abiquiu NM

Rancho Viejo County Road 142
Abiquiu, New Mexico

By Adrienne DeGuere, Editor and Office Administrator, Sotheby’s International Realty

In the heart of Georgia O’Keeffe country sits this 115 acre working ranch with a 200+ year old territorial style adobe home and one mile of frontage on the Chama River.  The largest remaining intact portion of a land grant made to Bartolome Trujillo in the early 1730s, the property was once the headquarters of what was originally an 11,000 acre ranch. The 4,000 square foot main house of four bedrooms and three baths comes with vigas and latillas, radiant heated stone floors, and three fireplaces; nearby but still private is the one bedroom, one bath casita that once served as a bunkhouse for ranch hands.  The land includes two ponds, 156 acre feet of adjudicated water rights for irrigation purposes with a 1734 priority date, and multiple additional structures.  Special touches such as adobe handmade and formed by a local family and a pasture area peppered with Anasazi Indian pottery shards add to the appeal of this unique offering.

 Exclusively represented by CINDY VOLPER
505.901.1436 cindy.volper@sothebyshomes.com

 

Introducing Planet Forward, LLC

By Rod Gesten, Co-Founder, CEO

Planet Forward ReversedPlanet Forward, LLC is committed to improving the quality of your life through saving you money, reducing your carbon footprint, and helping the planet. With the invention of our FREE home energy consumption (HEC™) tracking system www.hecbenchmark.com, home buyers, sellers, and owners can determine the health of their building(s).

We all know that for our own bodies, eating too many calories a day can result in an unhealthy body. Similarly, your building may be consuming excess BTUs — think of BTUs as an amount of food calories, namely one food calorie equals 4 BTUs. Planet Forward principals Rod Gesten and Scott Irving bring over fifty combined years of architectural experience to the system, enabling you to find out if your structure is lean and fit or is taking in more than its share.

Simply create a user account at www.hecbenchmark.com, add your building(s) and input your recent energy usage from your energy bills. You can enter as many months’ worth of information as you like; the more you enter, the more the HEC™ system will learn about your structure’s energy usage. Once you determine how fit your building is, you can then begin to make energy efficient upgrades to your home, and continue to enter your energy usage afterward. The HEC allows you to monitor your building’s health post-changes, the same way a diet-tracking system would allow you to monitor your personal weight loss.

For more information, email info@planetforwardllc.com and follow us on Facebook, Google+, Twitter and LinkedIn to get updates on the company and the efforts we are making toward improving your quality of life.  Read more on how we came to the idea of calories/person within a home on our Blog here http://planetforwardllc.com/blog/calories.asp.

April 2014 Home Sales

Real Estate by the Numbers

By Abigail Davidson CRS, ABR, SRES, CLHMS, CNE, Broker Associate, Sotheby’s International Realty

The following information has been compiled to provide you with updated information on sales in Santa Fe and its surrounding areas for April, 2014. These statistics are for all Santa Fe residential home sales including single-family homes, condos, and townhomes.

There were a total of 140 home sales in April.  Prices ranged from $78,000 to $2,817,500.  Total sales volume for April was $60,956,698, up from March which was $60,651,266. The average sold to list price was 96.39 percent.

The average sales price in April was $435,404, up from March which was $421,189. The median sales price for April was $318,500, up from March’s median of $286,950.  The average number of days on the market in April was 170 and March’s was 165.   Here is how number of sales per price-band reported in April 2014:

  • 80 homes sold for under $350,000
  • 26 homes sold from $350,001 to $500,000
  • 25 homes sold from $500,001 to $1,000,000
  • 9 homes sold from $1,000,001 to $2,817,500

 

SERVICE

By Ron Blessey, Senior Mortgage Banker, Peoples Bank

At the forefront for all providers of real estate related services should be their level of service on the mortgage side of the process. I have seen advertisements and flyers from a variety of online lenders and mortgage bank branch offices that tout low rates and promise the moon to anyone who contacts them for mortgage financing. It is not as simple as all that, however.   If the service provider cannot deliver or does not have the experience or availability to provide what is asked for, all the talk in the world will not make a difference. Borrowers do not want to hear that as they approach the end of their transaction.

There is a saying that most aptly applies to great service: “Quality in a service or product is not only what you put into it but what the customer gets out of it.” As a mortgage banker, the foundation for the service I provide is many years of experience and expertise coupled with the Bank’s lending platform. In this challenging lending environment, it is not as simple as quoting a rate and giving empty promises. It requires the analytical ability to look at each situation on its own merits and then determine what loan program fits that borrower’s specific needs. Also, as important is being able to think ahead based on my knowledge of the new qualified mortgage rules. Having a complete grasp of what underwriters require and how every detail associated with the borrower can impact the success or failure of the deal.

On the customer side, taking the lead of the loan officer, being educated in the process, cooperating, and asking questions throughout the underwriting timeframe is your responsibility. You should never go through with a real estate transaction and ignore what you think may not be important only to find out later that you should have asked a question.   Being educated in the process and asking questions will make your borrowing experience successful.

Coronado Paint and Decorating

Unique Destinations
By Ken Dettelbach, Advertising Sales/Marketing Director, Gateway Marketing LLC

Coronado Paint and Decorating will celebrate 30 years in Santa Fe from the end of May through the July 4th holiday, 2014. During this period, anniversary values will be offered on many premier products and services. Also offered will be professional workshops, free to all who wish to attend. Everyone at Coronado invites you to visit and help us celebrate our 30th anniversary.

Locally owned, locally operated, and locally committed, Coronado Paint and Decorating continually serves the Santa Fe community. From multiple awards for community service, serving on boards of Santa Fe institutions, and most recently selected as ‘The Business of the Year’ in a district-wide choice awarded by the Downtown Santa Fe Rotary, Coronado Paint and Decorating, and specifically Buddy Roybal, has proven that community involvement is an important component of growing a successful business in Santa Fe.

Cervantes “Buddy” Roybal, a native of Santa Fe, opened the store 30 years ago in a small showroom of 900 square feet on a dead-end street in Santa Fe. Today with over 21,000 square feet of retail and warehouse space at 2929 Cerrillos Road, Coronado Paint & Decorating is known as the premier one-stop shop for finishing products on new construction and remodeling projects for homes and commercial development alike.

With a staff of 25, most with over 10 years of service, Coronado has maintained a home operated atmosphere which over the last three decades has encouraged customers’ comfort, satisfaction, and loyalty, built with honesty, integrity, and fairness.

Over the years, Coronado has become the source in Northern New Mexico for custom and imported tile, floor, wall and window coverings, home accents, and quality paints of every imaginable color. Its website – www.CoronadoDecorating.com – allows new and established customers to shop all products and services, including professional design services and free home installation reviews.

Coronado Painting and Decorating is being profiled as part of the All Things Real Estate “Unique Destinations” series.

 

Domicilio Cerro Gordo: 1520 Cerro Gordo Road

Homes with History
By Adrienne DeGuere, Editor and Office Administrator, Sotheby’s International Realty

cerroSet in the lush upper canyon of the Santa Fe River, Domicilio Cerro Gordo is one of the oldest farm houses in this historic area that was exclusively devoted to farming as late as just after the first World War. Cerro Gordo, translated as “fat hill,” was part of the Lucero Land Grant in 1732 and the property stayed within familial ownerships of the Lucero, Armijo, and Gonzales families until 1959.

In 1995 Ron Mann, a California designer, and his wife became the current owners and remodeled the home.  It was celebrated in the July, 2002 issue of Architectural Digest.  Special touches include pine flooring from an 18th century New England barn used in the kitchen, sala, and dining room, and use of a felled white fir from the property to create the interior doors, kitchen counters, and shelving.  The white fir stump remains as a natural wood sculpture in the yard.

With three bedrooms and three baths, this south-facing double adobe includes a solar tracking system, raised-bed organic vegetable and flower gardens with an irrigation system, and views of Atalaya and Picacho Peaks.

Exclusively represented by CAROLINE RUSSELL
505.699.0909 caroline.russell@sothebyshomes.com