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
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.
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