Friday, September 28, 2012

Five Questions: Why Home Prices Are Rising

Home prices through July posted their largest year-to-date rise since 2005, according to the S&P/Case-Shiller index covering 20 major metropolitan areas. Read More...

New Home Sales Steady - But Prices Jump!

NEW YORK (CNNMoney) -- Sales of new homes were little changed in August, but prices rose sharply in a signal of continued improvement in the housing market, according to a government report issued Wednesday.

How much is your Santa Fe, NM home worth? Find out here.

New homes sold at an annual rate of 373,000, down 1,000 from the July reading from the Census Bureau, which tracks the sales. The number is 28% above year-earlier levels. Read More...

Wednesday, September 26, 2012

Home Prices Rebound to '03 Levels

NEW YORK (CNNMoney) -- In another sign of a turnaround in the long-battered real estate market, average home prices rebounded in July to the same level as they were nine years ago.

How much is your Santa Fe, NM home worth? Find out!

According to the closely watched S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, the typical home price in July rose 1.6% compared to the previous month. Read More...

Tuesday, September 25, 2012

Investors Ready to Take Bigger Bite Out of Market

Rising home prices haven’t deterred investors from the housing market, according to a new survey by real estate-centered companies and Memphis Invest. In fact, nearly 40 percent of real estate investors say they plan to purchase more properties over the next 12 months than they did last year. Twenty-six percent say they plan to buy as many as they did last year, according to the survey. 

Find a great deal on a home in Santa Fe, NM

Investors have made up a big part of the housing market in recent months. Investors bought 1.23 million homes last year—a nearly 65 percent increase over the 749,000 they purchased in 2010, according to the National Association of REALTORS®.  Read More...

Monday, September 24, 2012

Mortgage Rates Lower Every Day This Week. New Lifetime Lows.

Mortgage rates have moved lower every day this week.  Today's move was even more pronounced than yesterday's, carrying rates decisively into NEW all-time lows.   Today's data and events during the domestic market session were of little concern to Secondary Mortgage Markets, which began the day in stronger territory thanks to the overnight sessions in Europe and Asia.  From there, MBS (the "mortgage-backed-securities") that most directly influence rates) essentially held stead for the rest of the day, allowing lenders the ability to pass on more of the improvements. Read More...

2 bedroom / 2 bath home on corner lot in Santa Fe, NM

Check out this new listing!

                                           This corner lot home on a cul-de-sac, by a field and running path has wonderful views & privacy. Better then new home has been freshened up from head to toe w/new carpet, paint & landscaping. Feel its expansiveness while relaxing in the landscaped extra large rear patio. Conveniently located in the heart of The Original Village just steps from the market. The newly insulated/sheet rocked 2 car garage makes a perfect workshop/office. The best deal in Rancho Viejo! MLS 201204477.  Offered at $199,000

See the listing here.

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Friday, September 21, 2012

Mortgage rates at record low, again.

NEW YORK (CNNMoney) -- Mortgage rates fell to record low levels once again last week, as the Federal Reserve's decision to buy billions in home loans for the foreseeable future helped bring lending costs down for home buyers and owners.

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Mortgage finance backer Freddie Mac's weekly survey of mortgage rates showed the average 30-year fixed-rate mortgage fell to 3.49% from 3.55% the previous week. That matched the previous record low set in July. The fixed-rate 15-year mortgage reached a new record low of 2.77%, down from 2.85% a week earlier. Read More...

Thursday, September 20, 2012

Home Sales Rate Rose in August to a 2-Year High

Sales of existing homes rose in August to their highest rate in more than two years and new housing construction also climbed last month, providing signs that a budding housing market recovery is gaining traction.

How much is your Santa Fe, NM home worth?

The National Association of Realtors said Wednesday that existing home sales increased 7.8 percent last month to an annual rate of 4.82 million units. That was well above economists’ expectations and the fastest rate since May 2010 when activity was being supported by a homebuyer tax credit. Read More...

Wednesday, September 19, 2012

Home Loans may get Cheaper under New Rules

Home mortgages could get a bit cheaper and eventually easier to get as a result of actions taken last week by the Federal Reserve and the agency that regulates Fannie Mae and 
Freddie Mac. 

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On Thursday, the Fed said it would begin buying $40 billion worth of mortgage-backed securities per month. Read more...

Monday, September 17, 2012

As Home Prices Rise, Will Investors Step Back?

Now that home prices are rising again, watch for investors to step back from the market.
Home prices in June rose by 0.5% from one year ago, according to the S&P/Case-Shiller home price index released on Tuesday. That is the first year-over-year increase in the since a tax credit-fueled home-buying rush two years ago.
Prices began rising earlier this year amid a strong bid from investors for bargain-priced foreclosures. They have continued to climb as more buyers chase fewer homes for sale. Listings are down sharply from one year ago, the result of banks putting fewer foreclosures up for sale and traditional homeowners sitting on the sidelines. Read More....

Friday, September 14, 2012

Home Buyers Face Serious Competition

(Money Magazine) -- When Paul and Ieva Johnson moved from Minnesota to Florida, they were looking forward to warm weather and plenty of bargain-priced homes. But when the couple made their first offer earlier this year, they quickly discovered that they'd have to settle for the sunshine.

What is your Santa Fe, NM Home Worth?

Not only didn't they get the house, says Paul, but "we didn't even get a callback." Over the next two months they put in seven offers -- most at or above asking price -- before finally making a successful $365,000 bid on a Sarasota three-bedroom.  Read More...

Santa Fe NM Inventory the lowest in months

Thursday, September 13, 2012

Housing on Mend, but Full Recovery Is Far Off

Home prices during the first half of 2012 posted their strongest gains in six years, the clearest sign that more U.S. housing markets have hit bottom.

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But the housing market remains far from normal. Hitting a bottom shouldn't be confused with a full-on recovery, which looks a ways off.  Read More...

Wednesday, September 12, 2012

Finally a little Rain!

I woke up this morning to gray, cloudy skies with a touch of drizzle.  It's not much, but we'll take what we can get. The smell of the pinon when it rains is intoxicating. Love that rain!

Housing Is Rebounding -- Just Not the Way You Think

Make no mistake: Housing is recovering. It's on an upswing. It's likely sustainable, and I think it has a long way to run. But if you're a homeowner, don't get your hopes up. The recovery probably won't affect you like you think.

How much is your Santa Fe home worth?

Housing construction is rebounding, and there's a decent chance it will double in the coming years (more on that in a second). But housing prices are another story altogether.  Read More...

Monday, September 10, 2012

The 10 States with the Strongest Housing Markets

The housing market is showing signs of a recovery, albeit a halting one. In 10 states, median home prices increased by more than 5.5% from July 2011 to July of this year. While there is no single reason why housing markets in these states have done so well, most have several things in common.

Many of them, like North and South Dakota, have maintained jobless rates at nationwide lows. In these states, home prices barely dropped when the national housing bubble burst. Since then, home prices in some of have even risen, while the national market plummeted. In these economically stable areas, home prices expected to continue to move higher, although recoveries are expected to be modest. Read More...
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10 Tax Tips for Home Sellers

The IRS has recently issued a helpful list of 10 tax tips all homeowners should keep in mind when selling a home:

1. You are usually eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale.

Are you interested in selling your Santa Fe, NM home? 

2. If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income ($500,000 on a joint return in most cases). Read More...

Friday, September 07, 2012

Home prices post strongest growth in 6 years

A home price index based on multiple listing service data showed national home prices were up 3.8 percent from a year ago in July, the biggest annual increase since August 2006.

Home prices were down from a year ago in 23 of the 100 largest markets tracked by data aggregator CoreLogic's home price index, but that's four fewer than in June. Read More...

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Thursday, September 06, 2012

CoreLogic: July Home Prices See Biggest Monthly Jump Since 2006

Home prices in the U.S. enjoyed the largest annual increase in July that they had in six years, increasing 3.8 percent from prices in July 2011.  CoreLogic, in releasing its July Home Price Index (HPI) which also includes sales of distressed properties, noted that July's prices were also up from the previous month, increasing 1.3 percent.  This was the fifth consecutive month that the Index had increased on both an annual and month-over-month basis.

Find out the price of your home.

When distressed sales, transactions involving homes that have been foreclosed into bank ownership (REO) or are in some stage of foreclosure, are excluded from the figures CoreLogic's HPI rose 4.3 percent from July 2011 and was up 1.7 percent month-over-month.  This was also the fifth consecutive month-over-month increase. Read More...

Wednesday, September 05, 2012

Here's More Evidence that Home Prices Have Hit Bottom

In each of the last three years, home prices have increased in the spring and summer, when more people are buying homes, before giving back all of those gains and then some in the fall and winter, when activity cools.


But it is beginning to look like that might not happen this year, absent a major stumble for the economy.

Tuesday, September 04, 2012

Santa Fe: Home sales finally may be on rebound

The long and dark protracted downturn may soon be over for homeowners. Given the relative calm in the stock and bond markets these past few months, the real estate world looks better and better all the time to investors. Prices have turned a corner in some of the hardest hit cities such as Las Vegas, Nev., and Phoenix. The Land of Enchantment’s statistics, while not as dramatic as our neighbors, are similar.

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We may have seen a bottom in valuations and investors are entering the market for both new and existing homes regardless of whether or not banks are extending financing.  Read More...

Getting Better!

Santa Fe Ranked as Top 10 City in Hotwire List

Santa Fe was ranked as a Top 10 international destination for art and architecture in a list compiled by

Santa Fe was included with such cities as Paris, Florence, Vatican City, St. Petersburg and other major travel destinations as being one of the best cities in the world in which to admire famous art. Read More...

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Monday, September 03, 2012

Mortgage Rates Reverse Course

Mortgage rates eased this week, reversing three consecutive weeks of increases, as Federal Reserve policymakers weighed further stimulus measures that could include additional purchases of mortgage-backed securities that fund most U.S. mortgage loans. 

Find out what your house is worth

Rates for 30-year fixed-rate mortgages averaged 3.59 percent with an average 0.6 point for the week ending Aug. 30, down from 3.66 percent last week and 4.22 percent a year ago, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey. Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 of 3.49 percent during the week ending July 26. Read More...

Sunday, September 02, 2012

8 Things to Reconsider Before Relocating

Moving to a new area can be daunting. You can ease the anxiety if you do your home work and take a few precautions that might not be necessary if you were selling one house and buying another one in the same area.  Read More...

Request an online Santa Fe, NM Relocation Package Here!