Moo Thorpe Sothebys International Realty

Santa Fe, NM – Market Report 4th Qtr 2011

admin — Thu, 26 Jan 2012 19:24:02 +0000

Greetings and Happy New Year! We enjoyed a snowy white Christmas in Santa Fe and welcomed the New Year with good skiing and sunny skies. It is encouraging to step into 2012 with more positive national economic news than we have had the past few years, particularly the increases in the number of pending homes over the past few months as well as residential price stabilization across many markets.

We have also been pleased with the resiliency of Santa Fe’s real estate market as seen in the following bits of data:

The number of residential sales essentially equaled that of 201
The average sales price rose slightly (the median price was down slightly
The number of currently listed properties has dropped
The number of high end sales $1,000,000 + improved over the numbers sold in 2009 and 2010
The number of homes sold in Las Campanas essentially doubled from 27 homes in 2010 to 50 in 2011
The number of homes sold in the Historic Eastside is rose back to 2008 levels
The absorption rates in all price ranges, while still elevated, have continued to nudge downward, indicating that the time to absorb current inventory has improved.

Click here to read the rest of the Market Report

Santa Fe, NM – Named A Best Housing Market For the Next Years

Moo Thorpe — Tue, 13 Dec 2011 18:22:18 +0000

According to a report by Business Insider, a blog publication for Hanely Wood, Santa Fe is expected to be one of the country’s 15 best housing market’s over the next five years. Being a tried and true Santa Fean, I know the long term benefits and allure to living in Santa Fe so I am not surprised our market should do well. Here is a link to the article — I think you will find it intriguing.

Historic Homes For Sale – Santa Fe, NM

Moo Thorpe — Tue, 06 Dec 2011 19:50:07 +0000

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!

Santa Fe, New Mexico – A Retirement Haven

Moo Thorpe — Fri, 18 Nov 2011 23:14:24 +0000

Santa Fe, New Mexico - A Retirement Haven - As Reported in Smart Money Magazine

In a recent Smart Money article by Cathy Hill, Santa Fe, New Mexico was chosen as an underrated retirement jewel that is “relatively affordable, delightful, and full or opportunities to work and play.” Of course, those of us that live here already know the secret and are delighted the word is getting out! As for relatively affordable, Santa Fe real estate is full of amazing values with prices down to levels not seen since the late 1990′s in many cases. From vacation condominiums to historic Santa Fe style estates, this is a great time to buy!

To read the Smart Money article click here

Santa Fe New Mexico Real Estate News Update

Moo Thorpe — Tue, 08 Nov 2011 23:23:39 +0000

November 8th, 2011

After a somewhat sluggish pace of sale this summer, residential sales in Santa Fe have outpaced last year’s sales in both October and September by 13% in September and 27% in October. It appears that buyers held back through out the gloomy economic news and budget deficit talks earlier in the season,yet, sentiment seem to shift after labor day with most Santa Fe agents reporting brisker showing and sales activity. If the pace continues, Santa Fe sales for 2011 should match those of 2010 and perhaps surpass that by a smudge. Price is still key and today’s buyers demand value. The properties that sell are those that are priced extremely attractively relative to their competition.

What’s happening with land sales in Santa Fe? Unfortunately, not enough. Inventory levels remain very high and while their was a small uptick in land sales as well the past few months, we are avergaing less than 20 sales/month. Prices in some areas are quite attractive, especially in Las Campanas where good lots are available under $100,000! Unheard of value!

Santa Fe, NM – Real Estate Market Gaining Strength

admin — Fri, 16 Sep 2011 22:58:03 +0000

Another week blown out of the water, and a pretty good week after all is said and done. As a company, Sotheby’s put 23 properties under contracts in a variety of price ranges (60 in the entire MLS system), 17 solds with six of those in-house (30 for the entire MLS system), and 21 new listings (77 in the entire MLS system). A good number of prices changes are still coming in, and there were approximately 400 Sotheby’s showings for the week. It looks like fall is going to be a strong selling season!

Year to Date Properties Sold in Santa Fe, New Mexico

admin — Tue, 09 Aug 2011 21:42:03 +0000

The graph below shows the number of residential properites sold in Santa Fe since 2007. As you can see, the number of properties sold year to date are on par with the number of properties sold last year. In areas 24 and 25 (Las Campanas and the surrounding areas) there are actually more properties sold this year, so far, than last year. Area 3 (the core down town area of Santa Fe) is showing a similar trend. To enlarge the graph, please click on it and then you can zoom to see it better.

If you have any more questions regarding statistics or reports for Santa Fe, don’t hesitate to contact me!

Santa Fe Team Now Offers Market Reports

admin — Wed, 20 Jul 2011 21:43:45 +0000

Yesterday, the Santa Fe Team just released one of our new services – up to date market reports for Santa Fe! We are very excited about this new service and hope that it will help all of our clients understand the Santa Fe real estate market, how it is changing, and to be able to better predict how it will continue to change in the coming months and years. Above is an example of one of the many different kinds of reports that we can now produce. If you are interested in receiving this type of report, please contact me: moo@moothorpe.com .

January Santa Fe Real Estate News

admin — Thu, 13 Jan 2011 21:57:55 +0000

If faith is defined as “something believed with strong conviction” and hope is “to value a wish with expectation of fulfillment,” then I suspect most of you will join me in seeking a big helping of both in the New Year. Combined with hard work, a bit of luck and the view that embracing pessimism is simply not an alternative, then I think the stage is set for 2011 to be a better year than the one to which we have just said a fond farewell.

You’ll note that we have a new look to our monthly newsletter. On November 30, 2010 Sotheby’s International Realty (SIR) acquired Santa Fe Realty Partners (SFRP), bringing together the established local presence, global reach and brand recognition of SIR and the well known performance and perspective in Santa Fe of SFRP. Under the Sotheby’s International Realty banner, our combined team of brokers share considerable optimism about the future of the real estate market in 2011.

CLICK HERE TO READ MORE

Santa Fe, NM – Market Insights – Fall 2010

admin — Tue, 02 Nov 2010 20:32:57 +0000

Driving home on a recent (and rare) gray day, my eyes were drawn to vibrant splashes of orange and yellow aspen trees here and there between dark evergreens and gray sky.

Somewhat like those glowing aspens, Santa Fe’s real estate market at the end of the 3rd quarter shows a few bright spots while a fair amount of gray remains.

On the bright side:

There has been a 17% increase in sales year-to-date over 2009.

The bulk of the increase has been in properties priced $500,000 and below due to the first-time home buyer credit as well as record low interest rates.

The number of units sold in the North West sector as well as the Historic Eastside is close to surpassing the number sold for all of 2009.

Activity in showings and sales activity has picked-up nicely since Labor Day after a sluggish summer.

Motivated sellers and low interest rates have produced an incredible buying opportunity. As is typical for this time of year, serious buyers are in town and have been jumping on fantastic values. Continue reading here…