Big News

No doubt about it, Santa Fe home buyers. Now is the time to find your new home. Freddie Mac announced on May 3, 2012 that the 30-year fixed-rate mortgage interest rate is at an all time record low. Lowest-ever rates and still-recovering property values mean this a perfect time to make the commitment to purchase.

How it Happened

According to Frank Nothaft, vice president and chief economist at Freddie Mac, “Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week.”

The Numbers

The national 30-year fixed rate averaged 3.84%, down from 3.88% last week. 15-year rates averaged 3.07%, down from 3.12% last week. Freddie Mac has been keeping records of interest rates since its inception in 1970. See Freddie Mac’s site for more interest rate history.

What it Means to You

Making a large financial commitment like a home purchase during an unsettled economy may seem like an uncomfortable risk to you. But depending on your current financial situation, this could be the best time to purchase a primary residence or make a real estate investment. Contact your financial advisor, and then contact me to find the perfect home.

For centuries, Santa Fe has been an important desitination and crossroads in the history of the southwest.  Our history spans from the indigenous Pueblo Indians, the Spainards, to the migration of merchants, treasure seekers, and homesteaders from back east.  Throughout this period, as Santa Fe has grown, its changes have been reflected in its housing and architecture which are truly unique in the United States.   As an example of how lucky we are, I wanted to share with you a blog post on historic homes that our Sotheby’s team put together for us. Just click on this link to read:  http://santafesir.com/featured-properties/10-historic-homes-in-one-of-the-nations-oldest-cities.   Enjoy!

Around the turn of the century, artists, attracted by the climate and the beauty of the area, moved to Santa Fe, and the city soon became popular as an art colony. When New Mexico attained statehood in 1912, Santa Fe, as the capital, entered a period of prosperity; government workers arrived to live in the city and federal and state buildings were constructed around the Plaza. By 1920 the population had grown from 5,000 to more than 7,000 people, and by the 1940s it was over 20,000 people.

In 1957 the city established zoning codes designed to maintain a uniform architectural style. Two types of architecture are permitted: Pueblo, characterized by rounded parapets and rough-hewn woodwork, and Territorial, featuring brick coping and milled, often decorative woodworking.

Santa Fe is rich in its art history, another of the fantastic benefits for living here. Frank Applegate, in the early 20th century, was one of the most influential artists in the area. He came to prominence in New Mexico after 1921, as a painter, sculptor and ceramist.

In 1921, Applegate came to Santa Fe, devoting himself to painting. His house was on Camino del Monte Sol, in line with the adobe huts built by Los Cinto Pintores, Mruk, Bakos, Nash, Ellis, and Shuster. His home is one of the historic highlights of the area. He was actually close friends with the designers and architects and sometime financial helper, whatever that means. His home is a historic treasure.

He became a member of the New Mexico Painters society in 1923, exhibiting extensively. He wrote “Indian Stories from the Pueblos” in 1929.

Santa Fe is one of the richest historical areas in the country. One of the historical highlights in Santa Fe is San Miguel. San Miguel Mission, also known as San Miguel Chapel, is a Spanish colonial mission church in Santa Fe, New Mexico. It is claimed to be the oldest church in the United States.

It was built between roughly1610 and 1626. The church was damaged during the Pueblo Revolt of 1680 but was rebuilt in 1710 following the Spanish re-conquest and served for a time as a chapel for the Spanish soldiers. The wooden reredos, which includes a wooden statue of Saint Michael dating back to at least 1709, was added in 1798. Though the church has been repaired and rebuilt numerous times over the years, its original adobe walls are still largely intact despite having been hidden by later additions.

Don Juan de Onate, a controversial figure in New Mexico history, led an expedition up the Rio Grande to present-day New Mexico in 1598 and founded the first Spanish capital, San Juan de los Caballeros, across the Rio Grande from San Juan Pueblo, now Ohkay Owingeh.