“Who needs beaches?” That is the sentiment of Cheapflights in the UK, in their 2011 list of Top Ten Destinations in the Desert, of which Santa Fe was listed. And many other people agree that Santa Fe’s charm, artistic flair and history make it a unique vacation destination and a wonderful place to call home.

In 2011, the city of Santa Fe was named in Travel + Leisure, Trip Advisor, Huffington Post, Conde Nast Traveler and AmericanStyle magazine as a top getaway town for culture, arts and peace and quiet, and an all-around great vacation.

News and business magazines also named Santa Fe one of the most promising housing markets, best places to retire and best visitor bureau. Visit the Santa Fe Convention and Visitors Bureau to find out more about the honors bestowed on Santa Fe in 2011 and earlier.

As we plan our summer vacations and activities, it is also a good time to review our home safety plan. UL, the company known for international safety certification, has a great Home Safety Checklist that focus on electrical, water and fire safety.

Here are a few tips from UL’s checklist and from my own experience with my years in Santa Fe real estate:

• Smoke and carbon monoxide detectors – Be sure they are in working order. Change the batteries every time we switch to Daylight Savings Time.
• Water heater – Check that water temperature is below 120 degrees Fahrenheit to prevent scalding and save energy.
• Fire Extinguishers – If you don’t have them, get one for each floor and for major living areas of your home (e.g. kitchen, bedrooms). Check that your existing ones are still viable, and review directions on how to use them.
• Fire escape plan – Create or review your fire escape plan with all members of the household. Be sure that your second floor has an escape besides the stairs. Have emergency phone numbers in a prominent place on all floors.
• Extension cords – Check all extension cords to ensure that they are not overloaded. Assure that no cords are placed under rugs or furniture, and that they are not coiled, kinked or frayed.
• Laundry room – Clean out dryer vent hose bi-monthly with a hose brush. Use an aluminum hose instead of plastic to prevent meltdowns and fires. Also check your washing machine water hose for leakage. Not only can old washer hoses pose a plumbing problem, they can cause electrical fires if the water comes in contact with electrical outlets or appliances.

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.

214 Polaco Street - Walking Distance to Railyard and Plaza

Grab this tasteful Pueblo style home in the historic district of Santa Fe. This 2 bedroom, 2 bath, 1165 sq ft home is a cozy and inviting retreat, yet open and airy for entertaining.  This gem features a nicely appointed kitchen, kiva fireplace, tile floors and large windows. A heated one-car garage can also be used as a studio or workshop.

This stylish home is convenient to the Railyard and Plaza, and is priced to sell at $387,500.

Contact me today about this beauty, or any of my other great listings in the Santa Fe area.

Enjoy an exclusive resort-style lifestyle in the Las Campanas community!

Signature golf courses, an equestrian center, tennis center, full spa and clubhouse await your enjoyment at Las Campanas. It is the best of both worlds; serene and secluded, yet only 10 minutes from the cultural district of Santa Fe.

Outdoor lovers will be able to play to their heart’s content as members of the Club at Las Campanas.  Two highly rated Jack Nicklaus Signature golf courses along with driving, chipping and putting practice areas. The club also features one of the best equestrian centers, with boarding and instruction in all riding disciplines. If tennis is your passion, the beautiful tennis center offers seven synthetic clay courts, leagues for all levels, and instruction by Pro Tour and USPTA tennis pros. Enjoy the outdoor pool with spectacular mountain views.

You’ll enjoy your time indoors at the Club as well, with a well-appointed fitness center with personal trainers, an indoor pool, and a spa and salon for rejuvenation. The stunning 46,000-square-foot Hacienda Clubhouse features peaceful meeting areas, cozy fireplaces and restaurant and bar facilities. Members create lasting friendships with their neighbors and celebrate life with their family and friends here.

Return after your days of activities to the serenity of your own Las Campanas home. The community offers Pueblo and log inspired homes with all of the amenities that you would expect in an sophisticated resort community. Homes prices sell from mid $500,000 to the multimillion dollar range.

There is still land in Las Campanas available to build your custom dream home. Homesites range in size from less than ½ acre to over 5 acres, and are priced from the mid $20’s to over $500,000.

Here are some pictures of current Las Campanas listings. Click the pictures for more detailed information:

Browse more Las Campanas listings on my website. Feel free to contact me to explore this remarkable community.

Here are some links for more information on the Las Campanas community and the Club at Las Campanas:

Las Campanas Owners Association –http://lascampanasowners.com

Club at Las Campanas  – http://www.theclubatlascampanas.com

Santa Fe, New Mexico -Residential Sales show Improvement in Absorption Rates

 Having just completed the first month of 2012, it is encouraging to see that residential absorption rates have continued to improve across all price ranges.  This means that it takes fewer months for a home to sell (provided it is priced properly, etc.), compared the past several years.  At its worst, the absorption rate for all price ranges was at 23.47 months in June of 2009.   At the end of January 2012, this rate had dropped to 12.37 months.     

As always, however, it is crucial to parse data for a clearer picture as the absorption rates vary widely depending on price range.  The best news is with homes priced under $500,000.  This absorption rate has fallen from a high of 17.48 months in June 2009 to 10.22 months at the end of January.  The rate for homes priced over a million dollars has improved; however, there is still a significant time headwind.  At the peak in September of 2009, the absorption rate for home over $1,000,000 was 57.85 months.  Now it is down to 27.49 months. 

Since the number of sales has not increased significantly, the reduction of the number of homes for sale indicated properties are being sold and fewer people are putting their homes on the market.  We do expect inventory to increase over the next few months as spring, summer, and fall are our best selling seasons. Yet, as inventory rises and sales rise seasonally, we do not expect a huge change in absorption rates in the short run.

 I hope this information is helpful.  Just let me know if you would like more in-depth detail!

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.

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.

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  -  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