Without any more than a month to work with, 2013 is already showing great signs of continued growth in sales and eventual recovery of our healthy real estate market. on the heels of the best year in a long time – 2012 – we are still headed in the right direction. Everyone needs something to feel good about and right now, property Sellers (and their Realtors) have a reason to feel like things are going their way. January 2013 was the best January of the last six years. Can we say that the Santa Fe NM real estate market is back? All the way back?
Maybe I should say “not so fast” Some areas and neighborhoods and price ranges are quite popular with homes selling quickly. Other areas and price ranges are still bearing the weight of excess inventory and lethargic buyer demand. But overall we have seen the worst of it and can now proceed forward without having to keep checking to see if there is still some unknown threat to a full recovery.
Home inventory counts keep dropping which puts the market closer and closer to balance. Balance is usually good for everyone, or at least equal to all. We have seen heavy seller markets and heavy buyer markets in the last 10 years. They are just different in who they benefit, but a balanced market is a good thing for all concerned.
Please feel free to read and share the statistical charts and stats in the reports available on the right side of the home page.
I would be a fool to not at least mention the obvious. There is no way to guaranty that we won’t have many foreclosures to work through in the future. Nationally, estimates of how many homes are still “underwater” range from 4 to 12 million. Some of those homeowners can pay on time every month for ten years and still be underwater, with a negative equity status. Is it morally wrong for them to default or mail in the house keys and walk away? What would be your argument for them to continue to pay on a home they cannot afford?
Thanks for your loyalty and words of encouragement over the years. This blog/website, which grew out of a newsletter, has never been perfect and never will be. But valuable and timely information is scarce and being able to keep this site updated is something I enjoy.
For your real estate needs that require a professional with a heart, look no further than the host of this blog. Contact me by email or phone most anytime at firstname.lastname@example.org or at 505-470-7153.
If you would like to do some online shopping, visit my property search site at http://alanball2.kwrealty.com/ and sign in for unlimited access to all Santa Fe Association of Realtor listings. We have the home you have been looking for…