Foreclosures fall to 5-year low

NEW YORK (CNNMoney) -- The wave of foreclosures hitting the nation's housing market has been much less severe than anticipated, with foreclosure filings at their lowest level in five years last month, according to a report out Thursday.

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Foreclosure filings -- including default notices, scheduled auctions and bank repossessions -- were reported on 180,427 properties in September, a 7% decline from August and down more than 16% from a year earlier, according to a report released Thursday by RealtyTrac, an online marketer of foreclosed properties. That's the lowest number of filings since September 2007. Read More...

Homeowners Recover 13.5 Percent of Lost Equity Through Q3

Rising home values have brought homeowner equity to its highest level since the third quarter of 2008 and helped lift 1.3 million families above water. Homeowner equity jumped $406 billion, or 5.9 percent, to $7,275 billion in the second quarter of 2012, according to the Obama Administration’s September Housing Scorecard. Read More...

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Time Lapse of ABQ Balloon Fiesta

Real Estate Forecast 2013: The Housing Market

The housing market will improve moderately in 2013, but nobody will mistake this for a boom. The gains in activity and prices will be a welcome relief, but will leave many homeowners still underwater.

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The usual way of discussing housing problems is misleading. Foreclosures, short sales, shadow inventory, upside-down mortgages are all symptoms. The fundamental problem that we have is an excess supply of housing units. Read More....

How The Housing Recovery Will Take Shape In Coming Months

More good news on the home front.  The latest S&P/Case-Shiller Home Price Index indicates that home prices gained 1.6% in July compared to a year earlier. Every city tracked in the 20-City Composite has seen prices rise for three straight months and 16 of the 20 cities saw year-over-year increases.

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“The positive news in both the monthly and annual rates of change in home prices over the past few months signals a possible recovery in the housing market,” noted David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a statement. Read More...

Asking Prices Soar Nationwide

Asking prices posted their largest year-over-year increase since the housing slump began, a monthly report from Trulia shows. Home prices listed on the Trulia web site were up 2.5 percent nationally. When foreclosures are left out, asking prices were up 3.5 percent from year-ago levels.  Read More...

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House Prices: Annual Appreciation for Last 25 Years

by THE KCM CREW on OCTOBER 5, 2012

Economists: Housing recovery finally here

NEW YORK (CNNMoney) -- It's been a long time coming, but economists surveyed by CNNMoney believe the nation's housing market has finally turned the corner.

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Of the 14 economists who answered questions about home prices in the survey, nine believe that prices have already turned higher or will make that turn later this year. Only three months ago, half of the economists surveyed by CNNMoney believed a turnaround in prices would not take place until 2013 or later. Read More...

Housing: Finally on the Path to Recovery

The housing market overcame a listless economy this summer, and several data points on Wednesday show it is finally beginning a long climb out of a deep hole.

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Single-family housing starts hit their highest level in 28 months during August, on a seasonally adjusted annual basis, the Commerce Department said Wednesday. Single-family starts were up by 5.5% from July and 26.8% from one year. Starts have been up from one year ago in 11 straight months—and by double digits in each of the last nine months. Read More...

House Prices: Experts Becoming More Optimistic

Each quarter, Pulsenomics surveys a

“distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 4-year expectations for future home prices in the United States.”

Here are the latest survey results.

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5 Reasons to Buy a Home NOW

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

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Price Increases Are on the Horizon

Prices will bounce along the bottom this winter. However, projections call for appreciation after that. Several studies and surveys call for price increases over the next few years starting in 2013. One such survey shows that prices will increase over 10% by 2016. Read More...

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.

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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...

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.

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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...

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 BiggerPockets.com 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. 

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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...

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...

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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.

Virtual Tour

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...

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.

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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...

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...

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.

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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....

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.

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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...

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...

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.

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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...

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.

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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...

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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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.

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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...

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.

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

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 Hotwire.com.

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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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. 

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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...

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...

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July Pending Home Sales Rebound

Pending home sales rose in July to the highest level in over two years and remain well above year-ago levels, according to the National Association of REALTORS® (NAR).

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The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 2.4 percent to 101.7 in July from 99.3 in June and is 12.4 percent above July 2011 when it was 90.5. The data reflect contracts but not closings.  Read More...

Home Prices up Across the Board

Home prices in the second quarter gained across all headline composite indices measured in the latest Standard & Poor's/Case-Shiller report.

This is the first time all three headline composites studied by S&P have reported positive annual growth simultaneously since the summer of 2010.

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"This is a clear sign we've turned around," said David Blitzer, managing director and chairman of Standard & Poor's Index Committee in an interview on CNBC.  Read More...

Sales of Existing Homes Improve as Prices Rise

According to the National Association of REALTORS®, resales of single-family homes, townhouses, condominiums and co-ops grew 2.3 percent in July from June to a seasonally adjusted annual rate of 4.47 million. The measure took an unexpected fall in June.  Read More...

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Time to Buy Now? Mortgage Rates are Rising.

Fixed mortgage rates rose for the third straight week after setting all-time lows, with the typical 30-year rate increasing from 3.59% to 3.62%, home finance giant Freddie Mac reported.

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Freddie Mac's weekly survey, released Thursday morning, pegged this week's average for the 15-year fixed loan at 2.88%, up from 2.84% a week earlier. The start rates on variable-interest loans were mixed.  Read More...

Price Your House to Sell Quickly

A first-quarter survey of homebuyers and sellers done by HomeGain.com, a real estate services website, revealed that 76 percent of homeowners believe their home is worth more than the list price recommended by their real estate agent.  Read More...

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5 Mistakes Sellers Make in a Hot Market

Sometimes, the real estate market can play games with our minds. At the top of the market, home buyers imagine that sellers frolic through fields of cash, rubbing their hands together megalomaniacally as they flip through hundreds of offers, concocting arcane "no brown M&M"-type contract clauses to put the screws to buyers-in-waiting.  

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At the bottom of the market, the tables turned, and sellers might have visualized buyers sitting on top of truckloads of cash, while deigning to offer them only a paltry few pennies for their Most Precious Asset. Read More...

The National Housing Market - Compared to One Year Ago

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Positive Housing Report Lifts Shares

Encouraging earnings from Cisco and positive signs in a housing report lifted the stock market Thursday and nudged the Standard & Poor’s 500-stock index near a four-year high it reached in April. 

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Cisco Systems, the maker of computer networking equipment, led the 30 stocks in the Dow Jones industrial average, surging 10 percent. Read More...

Home Prices on the Rise while Mortgage Rates Remain Low

This past week, Freddie Mac released their U.S. Economic and Housing Market Outlook for the month of August, 2012 which revealed a much needed home price increase. The Freddie Mac House Price Index increased 4.8% from March to June, 2012 which was the largest quarterly increase in eight years. Read More...

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Home Price Picture Across the US is Uneven

The median national home price rose 7.3% in the second quarter of 2012 compared with the same period a year ago. But that statistic hides the real variation in local home prices. Read More....

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No Rush to Lock in Low Rates

9: Number of months in the last 12 when mortgage rates hit new record lows.

“Lock in your low rates” is a common refrain among realtors. So common, in fact, that we’ve been hearing it for years now, and likely for years to come.  Read More...

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America's Favorite Cities - How does Santa Fe Rank?

Check out how Travel & Leisure rates Santa Fe, NM

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Finally, it is Time to Buy a House!

Warren Buffett famously once said: "Be fearful when others are greedy, be greedy when others are fearful."

And if you're not instinctively scared of the housing market, then global warming, saturated fat, running with scissors and the bogeyman probably aren't keeping you awake at night, either.

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The fact that everyone is scared to dabble in—much less commit to—housing makes it a close-to-perfect investment based on Mr. Buffett's principle. But buying real estate is a good long-term investment for many more reasons, some of which have only become apparent in recent weeks. Read More...

Mortgage closing costs fell 7% for homebuyers

NEW YORK (CNNMoney) -- Federal regulations are helping to significantly reduce the amount new homebuyers are paying come closing time.

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The average cost of closing on a mortgage has fallen by 7.4% over the past year, according to a recent survey by Bankrate.com. At the end of June, a homebuyer looking to close on a $200,000 mortgage with 20% down paid an average of $3,754, $300 less than 12 months earlier. Read More

If you can pull it off, a house is a smart investment

Investment opinions are like, um, noses: Everyone has one. Buy stocks, sell bonds? Go long steel and short copper? Buy sheep, sell deer? 

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It's pretty easy to see both sides of an investment argument. But it's hard to argue against buying a house now, assuming you can get a loan.  Read More

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If you like gadgets, this one is for you.

25 Awesome Gadgets for $50 or Less

Gorgeous Gated Condo in the Railyard - Santa Fe, NM

Stand alone casita, a short walk to town or the railyard. Rastra construction in the Assisi Compound, a walled and gated garden setting with 9 distinctive casitas in the vibrant Railyard -Guadalupe area. Very private with lots of east light and custom lighting. Travertine floors throughout. The open living area is augmented by a central flagstone patio. Well separated bedroom suites plus study with private entrance.

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In Santa Fe - 2012 homes sales on pace to be best in five years

2012 homes sales on pace to be best in five years In Santa Fe, NM

Those who sell homes in Santa Fe have had little reason to smile the past few summers. There was the financial meltdown and recession in 2008-09, and last summer’s wildfires kept tourists away and dented sales.

But like a rubber band, the summer of 2012 so far represents a rebound for residential sales in Santa Fe County.  Read More....

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Asking Prices Bode Well for Spring Sales
A report out Thursday says that strengthening asking prices for homes point to higher sales prices as early as June, which would be a welcome turn for the beleaguered sector.

Mortgage Rates fall to New Record Lows

Mortgage Rates fall to NEW Record Lows

Buying a Home Won't Get Much Cheaper...

Retire Here - Not there: New Mexico

Santa Fe on the Top 10 Cities with the Cleanest Air in the Nation!

New Listing:
Beautiful horse property in the heart of horse country just off of Rte 14 only 15 minutes to town. Over 14 acres with a sunny & bright one bedroom main house that includes a living room with fireplace, study, bedroom, country kitchen, full bath and laundry area. Large windows take in the spectacular views of the Ortiz Mountains. Home includes tall ceilings with vigas, and plaster walls. Beautiful wide plank floors, and spacious brick patios and portals on 3 sides. New 20x40 barn with huge NE portal, round pen, corral, storage closet, tack room and attached one bedroom guest house with bathroom. Property is completely fenced with separate 3 acres fenced in a rolling meadow. Great tree cover and views of the Sangres and Ortiz. Home is gated with a circular driveway.

HORSE PROPERTY ON 14 ACRES WITH VIEWS IN SANTA FE, NM

De-Clutter That House and Sell it Faster

Home Prices in 2012 Expected to Reach 5 Year High

Home Prices Going up?

Demand for Homes continues to show recovery - Wall St. Journal