Best housing markets?

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If you don’t already own a home in or near Santa Fe, the article linked here might be useful information for you to consider. When appreciation of home values and prices is predicted to be near Nine percent a year, buying now makes more sense than using your spa membership or taking your vitamins. (Disclaimer: speculative predictions are not fact-based!)

Business Insider just published this article –  which you might see mentioned in several news and information sources for the next few days.

Many could see this as a signal to celebrate and become bullish on the Santa Fe residential real estate market. That saying that a “high tide raises all boats” is almost always true. Check your boat for leaks and get ready to benefit from the coming appreciation (higher water).

Now, if you know me at all, you also know that I reference both sides of an issue. Higher appreciation can lead to a seller’s market, where homes are selling so quickly that buyers must compete with prices and terms for the home they really want to buy. My strong preference is for a balanced market, with about a 6 month supply of homes available for purchase.

We do have some ways to go before we get to the 6 month water mark, so it may seem quite premature to talk about a seller’s market based on a business publication article. Predicting how much a home might appreciate in value is and always has been a fool’s game and if you are a sales professional, telling a buyer to expect any specific appreciation should be communicated with extreme care.

The tipping point between inventory and potential higher demand is when we might be reading news headlines about how wonderful our housing market is; predicted to be one of the fastest growing markets nationally. Remember please, this is someone’s prediction.

Call me (505-470-7153) for the truth about housing prices in Santa Fe, and how you can safely enter or move up in our marketplace. Alan Ball

Posted in Home Values, Posts & Updates, Santa Fe area real estate, Statistical Data - Santa Fe real estate market and tagged , , , .

The writer is a 68 year-old young man engaged as an active REALTOR (associate broker) with Keller Williams, in real estate sales and management in the Santa Fe NM market area. My career has been in and around the real estate industry for more than 35 years, ranging from mortgage lending (interim, commercial, residential); residential property management and leasing; shopping center development and leasing; real estate sales; sales training; title insurance as an executive and an escrow officer; various management positions; consulting and other related activities. That plus a bunch of banking experience including our family-owned Bank of Santa Fe in the 1980s. Where has the time gone?
My background means you have my working knowledge of the entire transaction process at your disposal. That comes with honesty and no bullshit.