REY’S     REAL   ESTATE   RECOMMENDATION

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

December 17, 2017

U.S. House and Senate members of a combined Conference Committee have just passed a revised version of the tax reform legislation they have been considering for a few weeks. Next week, it is likely that Congress will pass this measure and then send it to the President for signing into law.

There are many elements of this legislation that impact current and future homeowners, which—as National Association of Realtors President Elizabeth Meddenhall states—poses problems for homeowners and the broader housing market. There are some elements to the bill that will benefit some homeowners and communities, including capital gains on the sale of a home, as well as keeping some mortgage interest and state and local tax deductions.

To understand how this legislation—which will most likely become law—impacts you as a homeowner, here is a link to an article in the Washington Post that helps explain provisions of the measure:

https://www.washingtonpost.com/news/wonk/wp/2017/12/15/the-final-gop-tax-bill-is-complete-heres-what-is-in-it/?utm_term=.0df2c330f051

Learn more about this topic and also pick up additional news by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

“Rey’s Real Estate Recommendation”

December 4, 2017

To continue on a message I have been delivering for several weeks, early in the morning of December 1st, the U.S. Senate passed tax reform legislation that the National Association of Realtors® believes puts home values at risk, and dramatically undercuts the incentive to own a home.

NAR President Elizabeth Mendenhall, offered strong concerns over the bill and said Realtors® will continue to work with members of the House and Senate as the process moves forward into a conference committee between both bodies of the U.S. Congress.

As Mendenhall stated, “Tax incentives to own a home are baked into the overall value of homes in every state and territory across the country. When those incentives are nullified in the way this bill provides, our estimates show that home values stand to fall by an average of more than 10 percent, and even greater in high-cost areas.

Mendenhall further noted that, “Realtors® support tax cuts when done in a fiscally responsible way; while there are some winners in this legislation, millions of middle-class homeowners would see very limited benefits, and many will even see a tax increase. In exchange for that, they’ll also see much or all of their home equity evaporates as $1.5 trillion is added to the national debt and piled onto the backs of their children and grandchildren.

Mendenhall finally observed that, “This legislation is a poor foot to put forward, but this isn’t the end of the road. Realtors® will continue to advocate for homeownership and hope members of the House and Senate will listen to the concerns of America’s 75 million homeowners as the tax reform discussion continues.”

As a member of the National Association of Realtors®—America’s largest trade association, representing 1.3 million professionals—I am using the “All Things Real Estate” (ATRE) radio show to share my views on this major legislation that is currently before our Congress. It is important that all homeowners, and those who wish to own a home, understand the implications of this legislation being passed and then sent to the President for his signature into law.

For anyone who is concerned about the direction this potential law could take us, NOW is the time to share your own views with your Congressman, as well as your two U.S. Senators. Call 1-202-224-3121, (repeat), to get the ball running.

REY’S   REAL   ESTATE    RECOMMENDATION

NOVEMBER 19, 2017

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

For this week,   I am continuing a theme I have discussed recently on a couple of occasions during airings of the “All Things real Estate” radio show (Go To the “Listen Now” link at ATRradio.com on Sundays, 12-2pm Mountain Time).

Since our show is heard all over the country, I strongly urge all homeowners — no matter where you live — to contact your two U.S. Senators about the Tax Cut and Jobs Act that was just passed by the U.S. House of Representatives.

The House bill threatens homeowners with a loss of tax incentives and a reduction in home values.  The bill would reduce the value of the mortgage interest deduction, eliminate the deduction for state and local taxes, and cap the property tax deduction — increasing taxes for many homeowners.

Eliminating the state and local property tax deduction and changes to the capital gains exemption, will increase taxes now and when a home is sold. These incentives are critical for a strong housing market, that creates jobs and builds stable communities.

The bill now goes to the U.S. Senate for consideration,   where a different version of the legislation has also been drafted.  It’s likely that action by the U.S. Senate will occur after the Thanksgiving holiday, with differences between the House and Senate bills, being pursued in early December.

So now is the time to share your own views about this legislation  with those who represent you in Congress.  If you own a home, or wish to do so, the potential outcome of what is finally passed into law and then signed by the President, could impact you significantly.

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

October 22, 2017

Last week I suggested some thoughts about issues associated with selling a home. Today, I want to go to the other side of the equation and speak to what may be on the minds of people when they are contemplating the purchase of a home.

An article in realtor.com offers some great advice about addressing top concerns that you may have as a new home buyer. This counsel might help you get past some home-buying fears and bring you closer to realizing the American Dream of home ownership.

Fear No. 1: ‘I’m afraid I can’t afford a home’

Some house hunters are possessed by worries that their entire savings account will get sucked into a black hole if they buy. Then they’ll never be able to afford vacations, or new clothes, or food beyond beans and rice or mac ‘n cheese ever again.

The reality: Depending on what and where you’re buying, you’re not likely to drain your savings account. There are many loan programs out there that can help first-time home buyers with down payment assistance, or that don’t require a severed arm and leg in order to get a mortgage.

The best way to determine how financially ready you are to buy a home is to talk to a loan officer, like my friend Scott Robinson, the Santa Fe Branch Manager at the Gateway Mortgage Group (go to: gatewayloan.com/branches/santa-fe-nm/). Alternatively, you can also enter your income, debts, and other info in realtor.com®’s home affordability calculator to see exactly how much you can afford to spend on a home without going broke.

Fear No. 2: ‘I’m worried I won’t be able to buy a home I actually like’

The current economic climate may lead some buyers to believe that buying means they’ll end up living in a version of a “Saw” movie set—a windowless pit with exposed plumbing. Fact is, interest rates are low, allowing homeowners to snag a great deal and pay less over the course of their loan. Now the inventory of homes remains at a low level in Santa Fe—and in most areas around the country—so searching for the right home will take some time and energy. And if you see something you really like, make sure you are ready to move on making an offer, since there are probably several people thinking the same thing at the same moment.

Fear No. 3: ‘What if I buy a money pit?’

We’ve all seen that movie of the same name where Tom Hanks’s life and bank account are shredded, thanks to a rapidly disintegrating old house. But hey, that’s just a movie—most houses aren’t money pits, and even if there are potential issues lurking in the shadows, like a leaking pipe, you can do plenty to protect yourself. Before the sale, hire a good home inspector, like Jeff Brown of WIN Home Inspection (go to: santafe.wini.com). Jeff will be able to see signs of water damage, or any electrical and plumbing red flags. A home inspector will also advise you on potential repair costs, which can provide leverage for you as you go through a transaction with the sellers of the home. Next week, I am working with Jeff Brown on a home inspection here in Santa Fe for buyer clients of mine from California. They can’t attend the inspection, but Jeff offers a terrific service of electronically summarizing what he sees at any house he inspects, including pictures of potential problems.

Fear No. 4: ‘I’m worried I’ll overspend’

The asking price for a house may seem like an unholy amount of money. But keep in mind, that’s just what the sellers are asking for—what they get could be a totally different picture. Any good Realtor can help guide you to a realistic offer. A good broker will know the price points of the areas you’re targeting and can back them up with historical data and comps. Since you can search the prices of homes that recently sold in any area, it’s easier to find out what the neighbors paid and gain better insight before you place an offer.

Fear No. 5: ‘It’s just safer to rent’

Sure, renting means you aren’t trapped in one place, as you are with homeownership. Yet rent money disappears without allowing you to build any equity over time. In fact, by paying about $100 a month more, many renters could actually own their own home—and receive tax deductions. If in doubt, use a rent vs. buy calculator (find it at realtor.com) to crunch the numbers and see whether it’s renting, or buying that wins out in your area.

Learn more about this topic and also pick up additional news by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

“REY’S     REAL   ESTATE   RECOMMENDATION” 

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

 October 15, 2017

Those who wish to sell a home in this fall season, carefully consider a suggestions that my friends at the National Association of Realtors and I agree upon.

#1, your home décor isn’t always perfect for selling. Remember that while your home may be beautifully decorated, it still looks like your home, not the buyer’s.    Clutter, in particular, can make a home feel cramped and buyers will be distracted by too many personal items, as well as the need to negotiate around furniture to see your home.

#2, sellers need to disclose any problems with the property, like a broken air    conditioner, leaky faucets, water damage, or pest infestation. Don’t keep any of     your home’s flaws from your broker because you are scared it might hurt your sale. The listing broker is always on the homeowner’s side, but he or she must be aware    of what needs to be fixed, or what could become an issue in a transaction going     forward. Besides, a buyer who does a home inspection as part of any purchase, is   probably going to discover these problems anyway.

#3, remodeling doesn’t guarantee a price uptick. While remodeling projects may enhance a property, the projects homeowners take on are never a guarantee of payback at the time of resale. It is pretty standard that the payback will greatly depend on what type of home improvement was completed. Ask your real estate broker what improvements in our community seem to have a positive impact on home appreciation.

And #4, be ready to fix some things. Sellers may have to spend a few bucks to get their home ready to sell. For example, they may need to replace the trim the dogs scratched up, or clean the scuff marks off the walls, power-wash dirt off of sidewalks, repair damaged driveways, or put some new paint on interior or exterior parts of the house. Of course, to you, it’s totally normal because you’ve lived with these issues for years. But to buyers, these will look like expensive repairs, which means they may lowball you on an offer, or not make an offer at all, because your house is perceived to ‘need a lot of work.’ Remember—perception is reality, even when selling a home.

If you are a home seller and you consider these recommendations, you may see     an enhancement in the dollar value of an offer that a buyer makes on your property.

Learn more about this topic and also pick up additional news by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

Thank you!

Rey Post
Associate Broker
Sotheby’s International Realty
Santa Fe, NM

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

September 29, 2017

Today, I recommend that those who wish to buy, or sell a home carefully follow developments over the coming weeks that relate to the tax reform plan just issued by the Trump Administration and a small group of U.S. House and Senate members.

Though details are still being worked out, some of the proposed elements to the plan—as the National Association of Realtors has stated—have the potential for effectively challenging, or erasing incentives for homeowners.

Specifically, both the doubling of the standard deduction and the elimination of local and state tax deductions, along with any change in the current mortgage interest deduction—if you bought a home using a loan—could inhibit the homeownership rate.

My recommendation is—if own a home, or wish to buy one—contact your Congressperson and U.S. Senators to express your views.   

Put simply: Given the importance that buying and selling real estate plays in our economy, whateverCongress prepares in tax reform legislation that is then sent to the President for him to review and eventually sign into law, will have a significant impact on your life.

Follow the news on this issue and also join us each Sunday at the “All Things Real Estate” radio show (12-2pm Mountain Time on Santa Fe’s 1260 KTRC AM, or via streaming at the “Listen Now” link at ATREradio.com).

By Rey Post, Associate Broker, Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show
On August 13 & 20, 2017, Rey hosted remote broadcasts of the “All Things Real Estate” (ATRE) radio show from two of the nineteen properties of the 25th annual Haciendas, A Parade of Homes tour. This nationally-known event is sponsored by the Santa Fe Area Home Builders Association (SFAHBA) and features some of the finest new construction and remodeled homes in the nation. During both two-hour broadcasts, Rey was joined by a variety of real estate, business, community and non-profit leaders who offered commentary on the event and the homes being featured.

• SFAHBA Tour: Joining Rey to kick off the two-hour broadcast this Sunday is Kim Shanahan, Executive Officer of the SFAHBA. Kim will offer commentary on the mission of his association, the elements of the Parade, the home builders involved in this annual competition, as well as highlights of the homes being offered to the public for tour. As a professional home builder by experience, Kim will also offer his thoughts on the qualities of 36 Paseo Las Terrazas. Closing out the broadcast with Rey will be Joe Gammon, President of the SFAHBA and principal at House Incorporated, one of Santa Fe’s highly regarded home construction and remodeling companies. Joe will be able to offer his professional observations on the elements of 36 Paseo Las Terrazas, as well as the other entrants in the 2017 edition of the Parade.
• Pulte Homes: Throughout the ATRE broadcast, Joe Ortiz, On-Site Sales Director of thePulte Homes Las Campanas operation, will offer the “story” behind the design and construction of 36 Paseo Las Terrazas. This Parade property is a three-bedroom home, offering more than 3,600 heated square feet, a striking chef’s kitchen, numerous features that provide true Santa Fe essence, and views that overlook a Jack Nicklaus golf course at the Club at Las Campanas.
• Hospital Working With Residents: Jeff Lamie, the President and Chief Executive Officer of the St. Vincent Hospital Foundation, will offer his observations on the home being featured during Sunday’s show. Jeff will also share some thoughts on how the foundation and the CHRISTUS St. Vincent Regional Medical Center play major roles in providing extraordinary and compassionate health care to the home owners, buyers and sellers of the Santa Fe region. Jeff will also update the audience on the 2017 St. Vincent Hospital Foundation Annual Glamour and Gauze Gala on September 16. This year’s gala will support the hospital improvement project to create all private rooms for adult patients at the medicalcenter.
• Title Insurance Review: Steve Riemann, President of the Santa Fe Title Company, is a longtime corporate supporter of the ATRE radio program, and has offered commentary during multiple past Parade remote broadcasts. Steve is known for bringing well-respected real estate knowledge to not only the radio show, but also to the home buying and selling clients—and their respective real estate brokers—that his firm serves. The Santa Fe Title Insurance Company offers title insurance, escrow services, closing services, preliminary title reports, document recording, and property searches.
• Architectural Review: Craig Hoopes, Principal at the well-known architectural firm Hoopesand Associates Architects,will provide the audience with his professional observations on the design and numerous features of the home that is the site for Sunday’s broadcast. Craig and his firm are 2014 winners of the Parade’s “Grand Hacienda” award and are participating in this year’s event with two property entries in the competition. Craig’s firm has gained the reputation as one of Santa Fe’s top studios. Since its founding in 1992, the firm has specialized in the design of custom homes, performing/assembly spaces, sacred spaces, and custom spaces designed for end-users. This combination of projects has allowed the firm’s team to learn lessons from one scale of project that they can apply to another.
• Sotheby’s International Realty: Gregg Antonsen, Qualifying Broker and Senior Vice President of the Santa Fe operation of Sotheby’s International Realty, will join Rey in discussing the major role that the brokerage plays in aiding home buyers and sellers in the region. Sotheby’s International Realty is the leading real estate brokerage in Santa Fe and has considerable long-term buyer and seller experience in Las Campanas. Since January 2017, SIR has gained 63% of the market share of active listings by dollar volume in Las Campanas, as well as 58% of the market share of units sold by dollar volume in the community. In addition, the Club at Las Campanas is a longtime corporate supporter of ATRE, with General Manager Al Antonez and his staff on the radio program each month this year.
• Home Roofing Commentary: John Grisak, President of Fix My Roof, LLC, will share his thoughts on the qualities of the home featured during today’s remote broadcast. John will also speak to the application of roof restoration that Fix My Roof, LLC, applies each day that the company works with home owners, buyers and sellers. Headquartered in Santa Fe, Fix My Roof, LLC, is committed to restoring existing roofs for a fraction of the cost of roof replacement while maximizing a positive impact on the environment by embracing environmentally responsible practices and educating the greater community about environmental stewardship.
• Open House of the Week: Rey will discuss all of the open houses offered this Sunday by the brokers of Sotheby’s International Realty. Check the full-page Sotheby’s ad in the real estate classified section of the Sunday edition of The Santa Fe New Mexican for a roster of all of the brokerage’s open house events.

August 13 Podcasts:
https://santafe.com/thevoice/podcasts/all-things-real-estate-first-hour-august-13-2017

https://santafe.com/thevoice/podcasts/all-things-real-estate-second-hour-august-13-2017

• The Value of ATRE’s Commentators: Rey will offer observations on how the varied roster of real estate, business, community and non-profit commentators over the eight years that ATRE has been airing has added considerable value to the message the radio show has delivered to those who wish to buy or sell a home.
• Community Association Management Update: Bonnie will offer her thoughts on the theme of the show, as well as update the audience on current issues that residents within community association neighborhoods are facing this season. Bonnie will also review the elements of the second hour of the show when she and her guests will address timely community association matters important to home owners, buyers and sellers. Based in Santa Fe, Westgate Properties specializes in the management of multi-tenant commercial properties and homeowners associations. Their goal is to promote community through highly responsive management with the aim that quality of life, quality of work and the value of one’s real estate investment is improved.
• Gateway Mortgage Group “Home Buyer Tip”: Scott Robinson (NMLS#202265), Santa Fe Branch Manager at the Gateway Mortgage Group, will offer his own thoughts on the theme of the Sunday show, especially focusing on the talented people who make up the team at his firm and how they contribute to his recurring radio show commentary. Scott will also provide his regular mortgage tip, which can benefit home buyers who are purchasing a property in collaboration with a lender. 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.  
• Open House of the Week: Rey will review the attributes of 1220 Cerro Gordo Road with his Sotheby’s International Realty broker colleague Marilyn Foss. This sophisticated country-style residence and guesthouse is sited on a beautifully landscaped lot, offering numerous features and located just a short distance from the Santa Fe Plaza.

• HOA Legal Review: Joining Bonnie in the studio are Javier Delgado and Melissa Brown of the Carpenter, Hazlewood, Delgado, Bolen Law Firm, as they offer observations on the theme of this week’s second hour of the show. Javier will also provide his monthly legal perspective on a variety of other issues facing homeowner (HOA) and condo (COA) association communities.
• Insurance Advice: Vincent Marciano of the ADV Insurance Agency—specializing in community association insurance needs—joins Bonnie to discuss the theme of theSunday show, as well as offer his monthly insurance counsel on other matters of interest to home owners.
• Landscape Tip: Sean Gabriel, Principal with locally-owned and operated Proscape Landscape Management, will offer his landscape tip of the month, which speaks to the theme of the second hour of the program.

https://santafe.com/thevoice/podcasts/all-things-real-estate-first-hour-july-30-2017

“All Things Real Estate” airs each Sunday (12-2pm Mountain Time) on Santa Fe’s Talk 1260 AM & KTRC 101.5 FM, as well as via the “Listen Now” link at ATREradio.com.

August 2016