About Alan Ball

Over 30 years in real estate and related business in Santa Fe, NM.

A success story

The Santa Fe residential real estate market has come through some difficult times (no kidding!) and survived with a bright future and a solid foundation for growth and prosperity. Overall the market is somewhat balanced, with the usual strong and weak pockets. One who wishes to sell a home should find enough of a pool of buyers to make a deal. Prospects who are considering our area will have a reasonable amount of inventory to shop.

As always, the monthly statistics will be posted by the 10th of the following month, so May 2017 and year to date results will be available by June 10th. If you choose to follow this blog you will get an email when I post them, or just come back around the 10th for the good news; things are looking good!

Thank you

The Saga of Elk Mountain

Once upon a time, the lands around here were explored by people from other parts of the world, including from parts of Europe where they have to put names on everything. And many times explorers and adventurers, representing the King or Queen or POTUS of their homelands would attach the name of that royal personage or their own name on a large piece of land or body of water. Lake Louise, Mount Ranier, Bering Straits, Jamestown, Queens and even a little burg (larger back then) known as Elizabethtown in the Romero Valley of New Mexico.

Well, as luck would have it, the Europeans coming into what would become New Mexico gave some names to some of the mountains around here such as Wheeler Peak but the use of proper names was not so strong as many others were named for existing conditions, such as Trampas, Vallecito and Truchas. I mean, those are connected to things and events and beliefs, but not so much proper names. Then the mountain east of the Pecos River Canyon a low and massive hump of land with a barely discernible peak from below, but long deep snow cover in the winter, came to be called Elk Mountain. Now I am not a betting man but I believe at least 31 states of our 50 have a hill or mountain by that name. And that’s fine because names of things are used over and over in different areas and locations. Imagine my surprise when as a young boy I found out that the Broadway I lived on in Fremont Nebraska was not the biggest well-known Broadway around.

Now begins the saga as Elk Mountain has been properly named for many a year, but then politics sometimes gets in the middle of things and ruins them completely. Or improves them if you are of a certain ethnic or gender based group that depends on laws (borne out of political angst) to get to live your life in our bent out of shape country. Just last night I heard a guy say, on TV (a hallowed soap box from which to spread rumors and lies), that we are not a nation of immigrants but we are a WHITE nation. Wow, what box did that guy crawl out of? And what about Elephant Butte?

So the people sitting in Washington said one day that they had a compunction to honor some of their favorite sons-in-law (Kushner?) and sons of the Third Wife (Barron?) so the renaming began in earnest. Lake-of-the-Woods became Flynn Pond. Georgia was retitled Jaredland. The Smoky Mountains became Ivanka’s Ridge and so on and so on. Then they started seeing things named after animals and old Native American names, which they knew they could ignore because no descendants held any power over the 45 Regime and they would have little resistance. So Lake Peak, just above little Santa Fe, became Pence Mountain and Elk Mountain became Davidduke Hill. After several years of this renaming process the people were so confused and left in the dark that some of the information did not get circulated on a timely basis and National Park maps, for which there was no budget, started coming out with the new names. It was a tedious process to pore over those maps to find out what had been changed. There was an element of disbelief when many landmarks and lakes and streams and mountains and cities and states all of a sudden were named something else.

And who pray tell would represent the Elks, except maybe that old group of beer drinking guys that have clubs all over the country (Elks Lodges, each with a distinct charter and number) and all of the actual elk that live and propagate on those same mountains (except where they have been hunted out completely). Well, as fate would dictate, the Elks Lodge guys were not well enough organized to make a difference but the elk animals were very upset. They started dodging bullets and arrows with abandon and refusing to be shot for antler trophies and meat. The cost to the people who hunt elk was tremendous and the lack of meat on the table was a big wakeup call to all. And the elk, without the process of elimination that comes from being hunted, grew in population to where they were asking about homesteading on new lands and setting up new elk villages all over the place, even near Tucson and El Paso and areas where they were not expected.

This situation became a huge news item and of course many were confused because they thought it might be fake news and all. But it was the real deal. The story got even more weird when all the bald guys in American go up in arms because of all the mountains with Baldy in the name (and there were quite a few) that were renamed after 45’s various resorts and golf courses around the globe. Bald guys are not the type to offend and slight, let me tell you. So stay tuned for the Baldy Saga coming to a movie house near you.

Whats good for the goose

The story behind our fair and historic city is a long and romantic one. It is also filled with assorted groups claiming Northern New Mexico with swords and knives and later being overthrown. The dirt we grow our roses in has been governed by several nations and has been subject to differing methods of land ownership verification over the last 400 plus years. Today one gets a title insurance policy when one buys real property, most of the time. On occasion a family transfer occurs and title is not researched and insurance is not purchased because there is a presumption of clear title on behalf of the family’s elders.

You can trust anyone you want, but it is usually a good idea to verify what they are telling you; check on what they are selling you. While there are rarely title insurance claims filed, probably because the title companies do excellent research, there are too often bad feelings and threats of lawsuits after a simple real estate transaction. Many times that has to do with someones perception of what a Realtor is supposed to do or say, or what the seller did or did not disclose. A leaky roof is a very bad thing to discover in your new (to you) home, but it happens to the best of us. As we rarely get rain and or snow to test the integrity of our roofing systems, months can go by without a drop of moisture while the tar or foam or aluminum flashing holding out the moisture is failing slowly but surely. Then when we get a big wet late April snow storm, it may feel as if the seller was dishonest in not disclosing a roof leak. But did it ever leak before? That is a difficult question to answer with 100% accuracy. Some sellers might not be honest but I would submit to you that most are.

So buy a home and ask lots of questions, get lots of inspections, order and read lots of reports so when you walk in the door for the first time as the owner, there won’t be surprises and disappointments. Buying a home is not the time to save a couple hundred by choosing not to investigate the quality of the construction of your new dwelling.

Some roof leaks, canale leaks, skylight leaks and other places water can get inside are only wet for a few hours, plenty of time for them to dry while we are at work or in Albuquerque shopping at Costco. Go away for a week and who knows what is going on inside your home. I have seen homes so large that I doubt the owners can physically see every inch of their home on the inside to even know if a leak exists. Vigilance is a good thing when you are fighting leaks, and other unwanted invasions.

The wisdom of owning a home usually is greater than leasing, but when your home requires a bunch of work just to bring it back to normal, it may feel like you are not doing the right thing to own a home. If you were leasing you could just call the landlord, right? Let’s hope you have a good landlord; most are good in my experience. But the money required to maintain a home is not somewhere to skimp and save. The true savings in home maintenance seem to be when the owner can do much of the work herself without having to call a professional. Painting, tile and grout, cleaning, re-sealing wood surfaces, are all known to be projects an owner can take on with confidence. Electrical and plumbing maybe require more journeyman help than Uncle Jimmy who is handy with a hammer. You must keep the home in good condition if you want it to maintain value. If you want it to increase in value, consider adding on with a quality addition, or remodeling key areas of your home, such as the kitchen.

If you were not up to speed on our particular market characteristics, appreciation of home values is still a story we will hope to write in the future. If you find a home that has grown in value over the last 5-7 years, either it was bought for a song and is now fixed up or the owner make improvements that added value. Just running the vacuum and washing windows will not make your home worth more money.

Funny how I can show a home to a couple that says they rarely cook and yet they are quick to criticize a home with an outdated or small kitchen. If I ask them why they care, they are slow to admit it makes an impression, good or bad, on their visitors and house guests. Hope springs eternal for the day when a homeowner stops trying to keep up with the Joneses and just lives a simple and happy life. Then there is the shock when they find out their home seems to be a mid-century modern with a certain panache that makes it “unique”. Speaking of styles what exactly is soft contemporary? Is that something you can define or put your finger on? Does it mean contemporary but that some of the hard and straight lines have curves in them? Someday I will catch up on the jargon. Still my fave is 5 minutes to the Plaza. The most fun a person can have when they live south of St. Michaels Drive and try to get to the Plaza from home in 5 minutes or less.

Take a gander at this: home sales continue to climb, with April sales for the month well above last year’s April. I will let you look it up in the attached spreadsheets so you can have that moment of joy when you see the numbers.

So now an important question for you. Please vote by your site visits over the next month. I have been contemplating making this website more about marketing my listings, if I happen to have any, than just dry and hard to understand numbers. What do you think? Would you still come by and visit if you had to look at some banner ads with my listings? Many have told me I should charge admission for access to the information herein. I would settle for an occasional commission check from selling one of my listings from a feature post with photos right here. If you are not happy with the changeover to a more “retail” appearance, then make me an offer and you can buy this very blog with its history and first page of Google pedigree. Is it for sale? Show me something that is not for sale and then I want it. Speaking of the goose, I want to visit the Bosque soon and see what birds are hanging out there. I hear January is the busiest month.

Enjoy the spring and coming summer as we live in a wonderful part of the world with little to distract us from the beauty of nature and the mixing bowl of the people of Santa Fe.

I like it like that

Three months in the books and 2017 looks promising indeed. One month (March) of homes sold was well above last year, and the first three months of the last several years show a steady positive trend line. The first quarter of 2015 and 2016 produced 395 home sales while this year same period shows us with 458, a healthy 16% increase. Will that continue? If it does continue, we will soon have that shortage of inventory that the rest of the country seems to be experiencing. That inventory shortage is not something to strive for; in fact we need new construction and some spec homes soon or we will suffer from the shortage that would result. Buyers will be hurt the worst as they will have less to choose from and prices will reflect the sellers market that would take over Santa Fe. Note I said would, because it is not here yet.

In some price ranges, the recent results show good strength and a continued improvement. I have been moaning about the fact that we are still in our “recovery” mode, but maybe just maybe this will be the year we truly get beyond the pain and loss of the last 10 years. Take a look at the latest rolling 12 month unit sales totals in most any price range… (the spreadsheets are on the left margin) …you will see the most recent number in unit sales is the highest in about 10 years. While we have not yet regained the ground we held from 2003 to 2006, we are fast approaching those levels of unit sales. There were times when a full recovery seemed a dream, but it might just come true. Keep pushing my friend!

After years of scraping the bottom, bouncing along the bottom, calling the bottom, fearing there may be no bottom to the real estate crisis, burst-bubble and final markdowns/meltdowns, it is exhilarating to now be able to report some positive news about Santa Fe area residential real estate. I like it like that.

More or less what you expected

The first two months of 2017 are in the books and the numbers are fairly predictable for unit sales in all price ranges for the market area of Santa Fe NM and surrounds. Not much changes month to month anyway, but we are staying the course and building a solid foundation for future growth, should it occur. Help yourself to any of the spreadsheets available in this blog site and feel free to print and share with friends and foes alike. And possibly make your foes into friends.

The year may bring unsettled results if mortgage interest rates climb as expected. Nobody who predicts the future actually knows anything, so maybe stop listening to their rants and smooth talk. And if they did know anything, they are probably not saying what lies ahead for real estate in our City Different.

As we are now approaching the spring season (also known as Allergy Season, see prior posts), our market begins to heat up with most of the movement coming in the form of new listings appearing on the market. Over the last 8-10 years, many new listings were actually old listings that did not sell. Now we are nearly done with that old inventory and are chugging along with new sales matching up with new listings on a fair and balanced basis.

The current powers that be in our nation’s capitol have some folks thinking the future is uncertain. And those not it power, citizens and the loyal opposition, are confident the future is uncertain. Yes, but please confirm; it is always uncertain. Live life to the fullest, live every day as if it will be your last and dance like you actually had some dance training. Be friendly and be nice, get yourself healthy and if you decide to dig a bomb shelter to hide in when the bad guys come for your guns, consider stockpiling thousands of rounds of ammunition so you can kill everything that survives the Zombie Apocalypse and be the last person standing (along with your family) on the ground you love so dearly. Then call me and I will find you a new home to move into.

The differences between various beliefs and values that we read about and see online are at times as wide a gap as the difference between black and white. One side wishes the other did not exist. Of course one side would not exist without the other. If there were no black, there would be no white. All would be the same color. And yet when someone is able to voice what is truly important to them, despite the headlines and alternative facts, the same old things keep coming up. Health and happiness. Safety and security. Shelter and clean water. Stylish clothing and the best personal trainer. Fast internet and reality show entertainment. No wait… fast internet? Is that a bedrock value and need for people? Maybe so these days. I want what I want. I might also want what you have. If I am a bully and have money and ammunition, do I have the right to take what I want from you? You want what you want. Will you share what it is that is important to you? Willingly or only under threat of physical harm? Can we get along?

You can be as disgusted as the next person with what is going on out there in the Land of the Free. What are you doing about it? If you are unhappy are you looking for ways to right things that you perceive as wrong? Or are you just digging a deeper hole to hide in, hoping it all goes away? Our grand kids, some of you already have some, have the duty to ask us in the future what we did to mitigate rapid climate change and what we did to bring peace and understanding to different groups that seem constantly at odds . Is it OK with you if we are seeing species of animals and insects disappear faster than we can discover and study them? How do you know that the complete extinction of the pink tail blow fish in Southeast Asian waters will not lead to the end of life in our oceans as we know it? Is there a caring cell in your body or is it every man (or woman) for himself (or herself) and damn those that get in the way? Make America White Again? Really? Like your good old days? Good for whom?

Besides real property as opposed to personal property, what is real estate to you? The land is the earth and it has nurtured us to this point in history. Even in the high desert the land can support us. Like it or not we all came from Africa somewhere approaching 200,000 years ago. Check your DNA (I assume you might trust science and think DNA has value in amassing knowledge?) and find out where your distant ancestors came from. Mine migrated North out of Africa some 50-60,000 years ago and moved thru the Middle East, then migrated West finally settling in Europe. Then from the 1600s to the 1800s both sides of my parent’s families came over the ocean on big sailing ships to settle in the new land; a wild and woolly America. Both sides included many people who farmed and raised food and lived off of the land. How can you value a piece of fertile dirt that might sustain you while everyone buys sugary soda drinks and highly processed foods at the corner store known as IGA?

Get some dirt under your nails. Buy some land you can love and will spend time on, even better if it’s a long way from “town”.  Learn the night sky. If you can establish fruit trees and create garden space, you will form an attachment that is much stronger than steaming movies from Netflix or having a tamale at the local grill. Buy some land today. Give it to your heirs. If you are able to, buy enough that you can put some of it into a conservation easement and protect it from development forever. Why? So we might all benefit from seeing it in an undeveloped condition. The old natural look; no make up and no hair spray.

Thanks for reading and visiting. There is much to do and at times it seems like we are climbing up a very steep hill. But consider the views from the top. It will be worth the difficult ascent

You always hurt the one you love

When and if you ever choose to buy a home in the Santa Fe area, please consider treating yourself kindly and fairly and do the right thing for your family. Too many times a real estate transaction gets sideways because of poor communication or the lack of contact with customers. If you are interviewing buyer brokers to potentially work with, ask about the methods and timeliness of their communication habits. If you have a home listed for sale as a Realtor and you tell me you have not communicated with the owners of the home in more than a week’s time, I am concerned for your ability to do a great job for them.

Selling the home is the paramount task for a listing broker, but until it sells, is there not some minimum level of communication that should be reached? Would you put yourself in their position and think you would be perfectly happy without any communication for any period of time? How long would you be willing to wait between updates and reports of any interest or activity? A week seems to be about the longest tolerable time, to me. And what is that seller to the broker anyway? Are they not one of the most important business contacts they have while the listing is active? Realtors fight and claw to get listings, then amazingly drop the ball and stop the communication (why?) with their seller because they have no real news.

Being a seller of a home listed for sale is tough enough, with strangers walking through your bedroom and opening cabinet doors everywhere. No privacy and no taking a break from housecleaning and making it shine for a prospect. But if you are a seller and you know there have been showings of your home, or maybe there have not been many at all, should you expect an update or report from your chosen Realtor as to what they think is going on. Maybe as a minimum, the listing broker should share the feedback from the showings where feedback was provided. That can be invaluable and can lead to a serious consideration of the pricing and/or the condition of the home. When prospects continually say that they could not see the value of a home as it’s currently priced, that might mean its time to think about the price.

If I may be so bold as to speculate that your seller is someone you “love” — they are paying you a commission when their home sells — it seems they would be the last person you would want to hurt or treat badly. And yet it happens. And Realtors can hurt their buyers too, sometimes. A buyer who has chosen a Realtor to work with for assistance in purchasing a home should expect professional help and expertise. They should expect communication as befits the buyer’s agenda and timeline. Some buyer customers are going to buy in a couple of years. They likely do not expect weekly updates on our market conditions. How about the buyer that thinks they may be ready to purchase in the next 3 or 4 months? Seems like frequent communication would be in order. Don’t hurt the one you love; don’t hurt anyone, for that matter. But if you must choose because your time or energy is limited today, stay in touch with the ones you love. Days may feel long, but life can be unexpectedly short sometimes. Treat each day with respect, gratitude and appreciation.

Absorption Rate – Unplugged

A major focus of this blog site, along with statistics about the Santa Fe NM residential real estate market, is something called an Absorption Rate. On the left side of the site pages you will see the list of spreadsheets and charts available for review. Four of those charts are specific to Absorption Rates and they are in four price categories: all prices and then each of three smaller categories.

What does it mean if your home is approximately in the middle of the price range of $500K to $1 million? What it means is that there is an absorption rate that may apply should you attempt to sell your home. The rate uses averages so is no more precise that throwing a dart at a board, but it is very instructive if understood and factored in to how your home is marketed.

First, the chart for that price range shows four columns; inventory of homes for sale – total homes sold in that range over the last 12 months – average number of homes sold per month – average number of months it would take to sell all of the inventory (from the first column). This set of calculations presumes that only those presently for sale will actually sell and no new listings will come along in the mean time. It is a diminishing return sort of number, even though in reality, homes are withdrawn from the market and newly listed homes show up all the time.

Looking at the fourth column, the number of months entry; this is the approximate number of months it will take for those homes to sell. Let us say you have a home in that range and it is for sale. If the months count is 10 for example, one out of 10 homes will sell each month for 10 months. Each month 10 percent fewer homes will be for sale because they would have sold. A key question to ask yourself at this moment of clarity is: in which month do you want your home to sell? Maybe you are highly motivated and want yours to sell in month one or month two. Next I recommend looking at the other homes for sale in your price range and positioning yours to compare favorably with the competition. If you have a fairly “normal” home and it should be worth about $700,000, what is the asking price? If its much more than maybe $735K, what are you doing? Are you hoping a buyer will come along that cannot tell the difference between your home and another one that might be priced just above $700K?

The charts and graphs and spreadsheets herein are for your use and education. You are always welcome to share, print and quote the content with appropriate attribution. If you think I am an idiot and want to share your criticism, please feel free to contact me and I will try to incorporate your suggestions. There may be no other site that will give you the depth and breadth of information that this site offers. If you know of one, please let me know so I can take a look. I do like knowing what the competition is publishing.

Home sales up 3.3%

The results of 2016 data as reported to the Santa Fe Association of Realtors show a single digit increase in unit sales year over year: 2016 compared to 2015. The headline is the number:  3.3% increase. Overall the total dollar volume also went up, a decent number of 6.44%. The average sales price went up also; but only 3.03%. These numbers and the relevant spreadsheet is available for you to review by selecting it in the right margin (Monthly Residential Solds) which applies to homes, condos, townhouses & modular within the County (and City) of Santa Fe, NM.

Nobody can or should complain about a positive trend in unit sales, correct? The prior year over year (2015 vs 2014) showed up with a 7.8% increase. So we slowed down it seems. The actual increase in unit sales shows up as follows:  2014= 1824  —  2015= 1967  —  2016= 2032, which means the unit count increased by 143 for 2015 and by 65 for 2016. We did slow down a little bit.

That grand total of 2032 units sold in 2016 is still 27% below what we peaked at in 2005, during those red-hot years of liar loans, free and easy money, no doc no cry deals, etc. Still you will find plenty of homes that are worth what someone paid 10 years ago, assuming the did the normal upkeep and did not add-on or do a major remodel and update.

Land sales were hot then too. Many lots were sold in the last decade that still would not bring what was paid for them way back when real estate was great. Shall we make real estate great again? MREGA? Or maybe shorten it to MEGA? That sounds more poetic. Make realEstate Great Again. MEGA – Yeah, we just created a new ad campaign!

Some say the majority of last year witnessed buyers sitting on the fence awaiting the results of the national election. They were hesitant to make their move until they knew what direction the country (and interest rates too?) were headed in. Those same buyers might have had another excuse such as an ingrown toenail so that may have just been a convenient one to latch on to. And now that they waited, what is going on? It seems interest rates are climbing. This blog site does not track interest rates carefully as that information is almost everywhere online, but looking them up might illustrate that waiting was a mistake (if you need mortgage money). Does that mean 2017 will be better? Rising interest rates typically mean fewer buyers can buy so if 2017 is going to meet or surpass 2016, we have some work to do. Get out there and sell a home today.

If you are studying the Santa Fe residential real estate market in-depth, this site has a great deal of historical information you are free to access anytime. No future trends are predicted here. You are allowed to print pages and share them. I do not ask for compensation, but do request that you not brazenly plagiarise my statistics and pass them off as your own hard work. If you do quote me, please do so accurately and fairly. If you do not like the information and wished it showed more sales, that is not my fault and blaming me will only make you look worse. Yes, I have been blamed for being too influential on our market results. The concept is bizarre as if I spoke with a large number of sellers and/or buyers and said things that caused them to change the way they went about doing business in local real estate. Honestly I have lots of opinions (as everyone does) and am not hesitant to share them, but I try to let the hot air escape, staying primarily focused on the facts. It is a fact that there is going to be 12 months this year. I will report on each and every one of them. You can come back as often as you wish.

Lot sales up 10%

2017 saw a modest increase in residential lot sales in Santa Fe city and county reporting to the MLS database for the Santa Fe Assoc of Realtors. 2016 showed a total of 194 sales while 2015 showed 175. This is “modest” since we are still light years behind the volume of sales we experienced thru most of the last decade, topping out above 490 unit sales for six consecutive years ending in 2006. Since then it has been a dogfight just to be relevant and to be optimistic.

Lot sales trend down if people are not buying lots to build. Lot sales trend down when investors are uncertain of the values of lots year after year. Having been burned once or twice on a lot purchase, investors are standing on the sidelines waiting for a more stable and solid market and valuations. There are still a large number of lot sales (of the modest total we are reporting today) that show a sales price BELOW what that seller paid years ago. Would they reinvest in another lot? Without knowing which way the market was going? Not likely.

So any increase in lot sales is likely directly tied to a modest increase in future home owners actually buying the lot they want to build on in the near future. And we are not seeing a large increase in new construction across the board so new homes is not yet a thing we can get excited about. But the shift seems to be underway that will prove up an increase in lot sales again this year and beyond. One might feel that a 10% increase is great, but when you look at where we have been, it feels like a replacement bandage on the one that has been applied in the past. Healing is still taking place.

Please note the following breakdown and analysis of the 2017 lot sales numbers:

Sold prices ranged from $29K to $435K in Las Campanas, with 10 of the 20 lowest priced lot sales of the group of 194 sales. A total of 48 lots sold in Las Campanas.

Of all sales and in various price categories, please note:

91 sales below $100,000. 44 sales between $100K and $150K. 21 sales between 150K and $200K and 22 sales between $200K and $300K. There were 12 sales at or above $300K including one of a subdivision of 15 lots and one super premium lot in a highly desirable part of town that sold well above $1 million.   Average sold price= $142,429    Median sold price= $105,000

Compare to 2006:  561 lots were sold averaging $240K per lot (almost $100K higher than 2016 avg).

Thanks for visiting this blog site and do us all a favor: buy a lot today and build a new home on it. We need the activity and the inventory.  Happy 2017

Sending you our best wishes

…for a great year in 2017. May the numbers you visualize show up on time and may the results you desire come true. Ending 2016 with a solid number of sold homes over the prior 12 months, in excess of the 2000 level, is gratifying and it seems to prove we are on solid ground and not backsliding.

Your image of how you think our market should look is important. It seems we should be in agreement on the following statements. You may not agree, but then we don’t have to be in full agreement.

Interest rates are climbing and will continue to climb during the year. This always means a slight slowdown in buyers purchasing homes. The higher the rates go the more of a slowdown we can expect. It is simple mathematics, not voodoo or blind faith.

New construction seems to be picking up, helping with a dearth of inventory in the lower price ranges, taking pressure off the 40-year-old homes to satisfy the needs of today’s buyers of affordable dwellings. Proposed apartments seem to be quickly approved now also and that will also affect the lower priced inventory as people will have a bit more choice. Of course we hope they buy instead of rent. That is the standard Realtor belief: that everyone should be a homeowner.

The City of Santa Fe seems to be committed to providing high-speed internet access and updated airport facilities (maybe I am dreaming) which experts believe are sure-fire ways to stimulate economic development and entrepreneurial activity. When a business opens and stimulates everything around it (as Meow Wolf seems to be doing), economic development is no longer a mystery. Oh if only we could have ten copies of Meow Wolf please! Proximity is important in real estate. Walking distance is a growing asset in residential real estate. So is being near Meow Wolf, the Plaza and several other locations such as the Dale Ball Trails, shopping centers and schools.

The world of foreclosures and short sales seems to be on the tail end of a long and painful run, though we will still see homes show up in both categories this year. The top broker in unit sales in this market several years ago was a specialist in foreclosures. That is not the case today, but our recovery is still a work in progress. Witness that many homes are not yet worth what someone paid for them nine or ten years ago. When you want a bargain, do you look at foreclosures first? Those days are about over with. So many buyers came away with huge headaches from trying to buy a foreclosure. And of course nobody made a profit except the lawyers (bless them and everyone) and the people doing the winterizing and the repair work.

2017 is going to be a watershed year for many due to unknown future events that some are looking forward to and others are living in fear about. Will Obamacare be repealed, or replaced? Will inflation take off and throw a wrench into our economic gears? How will the Tweeter-in-Chief rule the country? How will his supporters and his detractors heal wounds and work together in this coming year? Will they be able to work together at all? Will our citizens feel safe or will the threat of terrorism grow? Will our forgotten youth and disadvantaged groups be included or excluded in our uniquely American future? Will Christians be able to reconcile their religious beliefs with their demands for making America great again? Is the gap between the haves and the have-nots going to grow or shrink? Does it matter to you? Should it matter to anyone? Is TRUTH an endangered species? Will the Cowboys win the Super Bowl? These important, and not so important questions will be answered this year, maybe.

Please plan a return visit to this blog site on January 10th if you are interested in the most recent monthly numbers plus the 12 month studies of how the Santa Fe residential real estate market is doing. I am working on the annual report of residential lot sales, a 4th quarter report for homes and the rolling 12 month recap, which is showing total sales above the number of 2000 homes. This has been a long time in the making. Can we maintain 2000 plus this year? With your help it can be done.