Monthly Archives: October 2020

The State Of The Real Estate Market October 22 2020

The State Of The Real Estate Market
              By Rey Post
Associate Broker, Sotheby’s International Realty &
Host of “All Things Real Estate” Radio Show
            October 22, 2020


In spite of the challenges we are facing in our COVID-19 world, real estate stands out as one of the strongest elements of our economy.

To illustrate this reality, Dr. Lawrence Yun, the Chief Economist of the National Association of Realtors (NAR) recently stated, “Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market. Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3%.” Dr. Yun further observed last month, that existing homes sales across the U.S. recently hit the highest level, since December 2006.Rey Post Santa Fe New Mexico

Dr. Yun also noted that the need for housing will grow even further, especially in areas that are attractive to those who can work from home. NAR highlighted—in its August 2020 Work From Home Counties report—that remote work opportunities are likely to become a growing part of the nation’s workforce culture. Dr. Yun believes that this trend will endure, even after a coronavirus vaccine is available.

Going to Dr. Yun’s observations, there is clear evidence over the past eight months, that people living in high-density urban settings, are seeing destinations like Santa Fe to be more attractive for home ownership. Beyond the architectural, cultural, art, food, sports and environmental attractions of our community, many people living in larger cities are simply looking for more wide-open space to work in, and raise their families.

Santa Fe has always been a place that consumers have found desirable for second home ownership. But the impact of COVID-19 in our lives and work, may accelerate the purchase of permanent residences in our city among people from our active real estate “feeder” markets (Texas, Colorado, California, et al.), as well as from other regions around the nation, as well as from overseas.

To this point, and as reported by the Santa Fe Association of Realtors (SFAR), the overall volume of home sales in the city rose by 24%, or from $313.3 million in 2019, to $389.5 million in the 3rd Quarter of 2020. The association’s 2020 President, Susan Orth, recently observed that “The Santa Fe housing market surged in both sales and prices during this quarter, following weak sales in the 2nd Quarter of 2020, due to the COVID-19 pandemic closures.” She further noted that, “The data demonstrates the robust strength of the Santa Fe housing market, even with historically low inventories, and the growing desire to acquire a home oasis in the pandemic era.”

To underscore these statistics, Gregg Antonsen, the Qualifying Broker of the Santa Fe operation of Sotheby’s International Realty, advises that our company—as the real estate market leader in Northern New Mexico—realized a home sales volume in the 3rd Quarter of this year (despite a huge drop-off in April/May due to COVID-19), that exceeded the company’s sales volume in the 3rd Quarter of last year.

Beyond Santa Fe, M. Steven Anaya, the Chief Executive Officer of the New Mexico Association of Realtors (NMAR), stated in this third quarter report, that to date New Mexico’s real estate market seems to be on track to maintain its 17% contribution to the state’s economy in 2020. He further observed that the economic impact of a home sale is not limited to just real estate related industries.

Anaya notes that expenditures related to a home purchase (such as furniture and remodeling) make up roughly 6.4% of the total economic impact of a home sale. Plus, there is a multiplier effect to account for the fact that income earned in other sectors of the economy as a result of a home sale, is then re-circulated into the economy. Additional homes sales also induce added home production. Typically, one new home is constructed for every six existing home sales.

But NMAR’s Anaya also observed in his report that the tight supply of homes for sale in our market has contributed to rising prices. In their recent report on the state of the market, SFAR revealed that median home prices in Santa Fe have grown by 16% from $396,500 in the 3rd Quarter of 2019, to $461,500 this quarter.

As NAR’s Dr. Yun notes, “Housing demand is robust but supply is not, and this imbalance will inevitably harm affordability and hinder ownership opportunities. To assure broad gains in homeownership, more new homes need to be constructed.”

In fact, research by the NAR indicates housing affordability is weakening as prices continue to surge. The jump in home prices of 11.7% nationally in August was way above family income increases of 2.2%. The lowest-on-record 30-year fixed-rate mortgage helps offset some of the high home prices, however affordability is a concern across the nation.

Creating affordable housing is something that real estate professionals, government and business leaders realize must be addressed, especially given the strain that COVID-19 has placed on our economy, and specifically the job market.

At the same time, the robust real estate market we are enjoying in Santa Fe and around the U.S. is clearly benefitting our local and national economies, while also providing a pathway for those who have an interest in, and capability to purchase a home.

Buying a property requires you to be financially sound and truly prepared to own a place you want to call “home.” Beyond all the financial elements associated with actually buying a home, you will also be liable for property taxes, insurance, maintenance, and repairs.

One positive note, is that mortgage rates are extremely competitive and at historically low levels, and this will most likely remain the case through the end of 2020.

With all of my home buyer clients, who come to me with their interest in a property purchase—with a desire to use a loan in the process—I always recommend that they initially meet with a mortgage professional. This first step allows them to determine what they are qualified to buy, based on their financial situation. Doing so also allows me, or any real estate broker, the ability to zero in on the home options that meet a buyer’s needs, and desires.

It is also recommended that you make sure you have enough money saved to cover around six months of essential living costs, once you make your down payment and pay closing costs on your mortgage.

And if you are planning to move from one jurisdiction to another, you need to allocate funds to pay for the cost of moving. But if you’re able to do all of your packing, as well as some or all of the transporting yourself, it’s far more affordable.

Of course, in our coronavirus world, you’ll need to use safe and secure health practices in your move, plus you will need to make sure that you follow COVID-19 related rules established by each state, should you be traveling between jurisdictions (e.g., the need to self-quarantine upon arrival; etc.).

Lastly, because of the presence of coronavirus, real estate professionals are using a range of technology tools to make the exploration of home options by buyers very doable in a safe process. Virtual tours using special elements allow home buyers the chance to see homes in a 3-D format, which was not often used by brokers during our pre-COVID-19 days.

These tools provide buyers with a method for narrowing the homes they are most interested in, thereby reducing the need for in-person tours, as they search for the perfect property.

Like every other professional operating today in the home buying/selling process, real estate brokers are using strict protocols for making the in-person viewing of homes as safe as possible (e.g., small groups of people to tour homes at one time; face mask requirements at properties; availability of hand sanitizers at homes; etc.).

Similarly, title companies, which handle the final step of closing on the purchase of a property, are using creative processes for accomplishing this task with little to no direct person-to-person contact (e.g., “drive through” document signing from your car; etc.).

Home inspection professionals are also providing their critical services to buyers (and sellers), while also keeping their clients at a safe distance from the actual inspection process, sharing pictures and written reports of problems discovered via electronic means, minimizing in-person communication.

My “All Things Real Estate” radio show website ( provides a roster of real estate professionals who follow all required COVID-19 measures that meet the rules established by the State of New Mexico. In addition, these are some of the very best practitioners of all parts of the real estate purchase and rental process, and are regularly offering commentary on a variety of subjects important to consumers during our Sunday broadcasts.

I hope that this information is useful to you as you explore the opportunity to realize the “dream of home ownership” in Santa Fe. I’ll be offering you additional observations about the real estate market and the home buying/selling process on a quarterly basis in 2021. Also, we invite you to join us each Sunday (12-2pm Mountain Time), as we air the “All Things Real Estate” radio show on Santa Fe’s KTRC (1260-AM and 103.7-FM), as well as via streaming on

This Sunday, Join All Things Real Estate Host, Rey Post, Stephen Etre of Stephen’s, A Consignment Gallery, Truewill Mashburn of Lucky Dog HiFi, and Scott Robinson of the Gateway Mortgage Group

By Rey Post
Associate Broker, Sotheby’s International Realty
Host of the “All Things Real Estate” Radio Show
October 18, 2020

The “All Things Real Estate radio show airs this Sunday, October 18 (12-2pm Mountain Time) on Santa Fe’s Talk 1260 AM KTRC and 103.7-FM, and streams on, as well as via the “Listen Now” link at

New Mexico Coronavirus Medical Hotline: 855-600-3453

New Mexico Health Department Info:

This weekly radio show features host and Sotheby’s International Realty’s Associate Broker Rey Post (NM REC License #45660), as well as variety of special guests who offer news, information and commentary on current real estate, business, and community issues, important to homeowners, buyers and sellers.

The “All Things Real Estate” (ATRE) radio show meets the standards established by the New Mexico Department of Health as an “essential business” (real estate-related and radio service), as defined in the state’s March 23, 2020 public health emergency order relating to the presence of coronavirus. As such, ATRE is committed to bringing timely and informative content to the public from some of the nation’s best business, non-profit, community, and real estate leaders. The guest commentators on this week’s show are emblematic of the quality of professionals who have helped to make ATRE a destination that people from all over the country turn to each Sunday.

In the first hour of the show, join Rey and his guest co-host Stephen Etre, owner of Stephen’s, A Consignment Gallery, for a discussion of the gallery’s annual “Fall Sale” event, being staged on both Saturday and Sunday. Rey, Stephen, and their guests will also note a historic event occurring this Sunday, as another theme for the broadcast.

On October 18, 1954, Texas Instruments announces the Regency TR-1 Transistor radio, making it the first commercially sold transistor radio, selling in significant numbers to people all over the world. With the transistor radio–no matter how isolated you were–music and world news suddenly became portable. It is also claimed that the device helped to further the rock n’ roll music revolution. The anniversary of the transistor radio reinforces another ATRE show theme this week: the value of radio as a medium for sharing news and information with consumers.

Stephen’s, A Consignment Gallery Review:

Stephen Etre, Owner of Stephen’s, A Consignment Gallery, will speak from the floor of the gallery, as he and his team stage their annual “Fall Sale” event. For decades, this event has attracted consumers from all over the country to the more than 13,000 square feet of gallery display space, providing a wide variety of unique items, including furniture, antiques, art, estate items, jewelry, and home accessories. Most of these items are offered to homeowners, buyers, and sellers at reduced prices during the two-day affair. Stephen will also remind the audience that–especially during this popular event, and as we deal with the presence of coronavirus–he and his gallery team are practicing social distancing procedures, to make participation at the event, safe and secure for all their clients. Stephen’s gallery–which has been a part of the Santa Fe community for nearly 40 years–is proud of its mission of “giving back” to Santa Fe, including the support of local charities, as well as cultural and educational organizations. The team at the gallery has a deep commitment to building local, and sustainable community relationships. For more than eleven years, Stephen’s gallery has served as one of the major corporate supporters of “All Things Real Estate,” and has committed to returning to this role in 2021.

Lucky Dog Hi-Fi & Technology Solutions Report:

Truewill Mashburn, co-owner of Lucky Dog Hi-Fi & Technology Solutions, will not only offer his support for the success of the “Fall Sale” at Stephen’s, A Consignment Gallery, but will also reflect on the show’s theme of marking the anniversary of the creation of the transistor radio. To the theme, Truewill and his team bring not only an experience in offering a range of hi-fi products and services to his clients, but also entertainment-related knowledge working for, or owning record stores, night clubs, production companies, and recording studios. Truewill will also update the audience about the ways that his company fully operates for its clients, in the ongoing coronavirus environment. Truewill will share information on how he and his business partner, Daniel Muller, specialize in providing residential and commercial custom technology solutions to their clients. The different backgrounds of the Lucky Dog team contribute to a unique end result: their ability to customize their clients’ home for audio, A/V, home automation, networking, and home lighting based on their particular specifications and circumstances. They understand how architecture, design, engineering, acoustics, and technology can all work together to craft a certain outcome. Since January, Truewill and Daniel have served as ATRE corporate supporters and show commentators, offering information on how their firm brings custom technology solutions to homes and businesses.

Rey’s “Real Estate Recommendation”:

Rey’s weekly real estate recommendation will offer information on the ongoing efforts of Sotheby’s International Realty to address the needs of home buyers and sellers, as the coronavirus situation continues. Rey will also share some thoughts on an ongoing element of teamwork, that he and all of his broker colleagues subscribe to. Specifically, that the marketing and administrative staff at the Santa Fe office of Sotheby’s International Realty are offering an even greater level of professional assistance to the company’s brokers and clients, during this exceptionally challenging period of time.

Broker Reflections and Property of the Week:

Rey will review the attributes of 93 County Road 120 with his Sotheby’s International Realty broker colleague Lois Sury. Rey will also ask Lois to update the audience on how she and her team are offering safe and secure processes for her clients, as we continue to deal with the impact of coronavirus in our lives, and work. Regarding the property, it offers rural living at its best: privacy, peace-and-quiet, surrounded in beauty with views to the west of the Jemez mountain range and Chicoma Peak. The home is also conveniently located in La Mesilla, close to the Black Mesa Golf Course, and only 25 minutes to Santa Fe and 40 minutes to Los Alamos. This two-bedroom, two-bathroom Craftsman style home, is approximately 2,304 square feet and sits in a private and peaceful setting with a gated entrance amid tall Cottonwood trees. This open concept living room, kitchen, and dining room floor plan are perfect for enjoying the views and the garden, family, and entertaining family and friends. There is an office space, an upgraded kitchen with granite counters and cherry cabinets with an island and Viking appliances, and Kohler memory collection faucets. The builder of this home used six different types of woods and the hand finishes are beautiful–you must see them to appreciate the quality. There is a two-car garage that could be converted into a guest house for extra living space. This home is all on one level and if your hobbies include quilting, there is a store in the neighborhood. Take a look at this web site for more information, CLICK HERE, and call Lois to arrange a private tour of this stunning home.

In the second hour of the show, join Scott Robinson, Mortgage Sales Manager at the Santa Fe office of the Gateway Mortgage Group, NMLS 202265, as he hosts his monthly broadcast featuring guests offering commentary on a variety of mortgage issues, important to home buyers who use a lender in the process of purchasing a home. Scott will offer a review of the state of the mortgage market, as well as useful tips that can benefit consumers, whether they are first-time homebuyers, experienced homeowners, or are seeking a second-home investment property. Joining Scott in the conversation, is one of the firm’s mortgage professionals, while in separate phone conversations, Scott will also speak with an associate broker with the Santa Fe office of Sotheby’s International Realty, as well as one of his firm’s mortgage clients in the “Raving Fan” segment of the show. The Gateway Mortgage Group is one of the largest privately-held mortgage companies in the country, doing its entire mortgage servicing in-house. This business element is important since it means that Gateway’s customers work directly with them until the time their loan is paid. Commentary contained within this broadcast is for informational purposes only and should not be considered a solicitation to extend credit. The Gateway Mortgage Group is located at 502 West Cordova Road, Suite 1, Santa Fe, New Mexico 87505. All loans are subject to program guidelines and final underwriting approval. Gateway Mortgage Group, LLC, is an equal housing lender. NMLS 7233. Scott and his team are long-time content providers on the ATRE radio show, and expanded their role with the program, by hosting their own second-hour broadcast each month in 2020.

ATRE Marked 11 Years Of Airing On June 7, 2020

On June 7, 2009, the inaugural broadcast of the ATRE program was aired. Since then, the show has aired on 550+ occasions mostly in a two-hour format with more than 2,500 guest commentators coming from Santa Fe and national real estate, business, governmental, entertainment, and community organizations. Though Rey created the show, and has hosted just about every 1st hour (and many of the 2nd hour broadcasts), a number of professionals have served as special guest hosts for many of the 2nd hour broadcasts of the show. Rey is honored that ATRE has been embraced by the listening audience, with people in Santa Fe, throughout New Mexico, and across the country selecting the show as a destination each Sunday. He is also very appreciative for the program’s corporate supporters, broadcast professionals at Hutton Broadcasting, and the marketing team at Sotheby’s International Realty, for all that they have done to make the show a success.

ATRE Wins National Award

RISMedia—the leading information and news provider for the residential real estate industry—has named ATRE as one of their “2020 Newsmakers.” Cited as one of this year’s 300 nationally-recognized industry leaders, ATRE and others have been characterized by RISMedia as “making a difference in the real estate and homeownership sectors, and whose actions have a far-reaching and profound impact on the real estate industry.” ATRE won in the category of “Trendsetters” in real estate, with information on the roster of award designees at:, and ATRE recognized at: Rey is honored to be a recipient of this special award and thanks all of the professionals who have helped to make ATRE a destination that people go to each week since the show first launched in 2009.

Giving Back to the Community

Since 2009, the “All Things Real Estate” (ATRE) radio show has offered air time to a variety of Santa Fe non-profit and community organizations. Representatives from organizations are able to use the ATRE program to share news and information with northern New Mexico residents about their services and activities. Over the years, some of the highly-regarded non-profit organizations featured on the ATRE program are: Cornerstones Community PartnershipsThink New MexicoLas Campanas Compadres; the Santa Fe Concorso; Kitchen AngelsCreative Santa FeDollars4Schools; and Youthworks. Senior Officers of the CHRISTUS St. Vincent Regional Medical Center, have also served as commentators on the program. In addition, Santa Fe Mayor Alan Webber—who has offered commentary on the show since first elected in 2018—speaks to the programs, events and community activities important to the residents of the city. In 2019, the Town of Taos collaborated with ATRE, in a year-long information series—sponsored by the Taos Ski Valley—called “This Is Taos.” Designed to offer useful information about this historic northern New Mexico community, the monthly show earned high marks from the public. Among the companies and non-profit organizations joining in supporting this monthly show series were: Taos Mesa Brewing; the Taos Center for the Arts; the Taos Arts Council; the Taos Gallery Association; the Taos Opera Institute; as well as Taos Behavioral Health, the Strong at Heart, and Taos MainStreet Accelerator projects.

The Realogy Disaster Relief Fund

The Realogy Disaster Relief Fund has been activated with the sole purpose of providing much-needed financial assistance to help those in need who are not covered by personal insurance policies. You may make a tax-deductible donation to the fund. The Realogy Disaster Relief Fund is managed through the Realogy Charitable Foundation. In donating to the Fund, 100 percent of the money will be disbursed to those who are affected by declared federal disasters. Click here to donate to the Realogy Disaster Relief Fund. Realogy Holdings Corp. delivers its real estate services through its well-known industry brands including Sotheby’s International Realty®.

As always, listener email questions and comments are welcome during the broadcast. Join in the conversation by calling Rey with your own questions or comments at 505-989-8900 or you can email Rey at:

Check out the radio show and tune in via the Internet: Go to and click on the “Listen Now” button.