Real Estate With Jerome & Chantell Leyba

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As we come into the final week of the new year we have seen an adjustment in the rates, but no hint of a decrease in pricing. This could be chalked up to the lack of inventory. I have been telling clients we normally complain when there is 400- 500 homes on the market. Closing out the Week of the 27th we are down to to 159 homes, which is an increase of more then 10% from last weeks home inventory. It is also important to keep in mind this report takes the entire Santa Fe County into consideration. So we are including a lot of the surrounding Santa Fe areas.

Another key factor to take into consideration is the median sales price which came in higher then the average, at $612,500. This tells us the majority of the sales were on the higher side of…

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Hello Everyone, this is Jerome Leyba with Red and Green Properties, and we are asking for your help in Santa Fe. The New Del Norte Boys and girls club will be hosting the First Annual Gift Drive. The gift drive will be held through December 20th, and donations will be accepted at the new teen center at Santa Fe Place Mall from 11:00 AM-8:00 PM. Clothing, outdoor wear, shoes, electronics are all acceptable items.

Help our teens enjoy the holidays!

 


bgcsantafe.org 

 

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Another solid week in the Santa Fe real estate market. With a median price point staying strong at 550,000, we see a consistent price pattern for homes in Santa Fe. The inventory is still shallow in comparison to earlier months. Santa Fe county's total homes are trending around 226 total properties available for sale. A total of 46 homes were sold this week. This has been relatively consistent, showing a 20 to 25% return on new market updates, and property is also coming off the market. With talks of interest rates going up, there is still an opportunity to lock in solid interest rates of around 3%. Shorter termed loans are offering rates even lower in the 2 to 2 1/2% range. With the low inventory, there are opportunities for sellers to capitalize. As…

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Selling your house in Santa Fe? How much is it going to cost you? Where do I even start?

When you begin the process of selling your home, it is easy to become overwhelmed with all of the factors that are needed for preparation. What do I start first? Where am I going to move? How long will it take to sell my house? The list goes on and on.

As real estate agents, we find the number one question is, what will it cost to sell our home?
In a nutshell, we tell sellers you will be looking at a 7-7.5% cost for selling fees.

What do selling fees include?

Six percent of the price will be your broker selling fees. That money will go to paying your Real Estate agent and the buyer's Real Estate agent. Depending on how your broker prepares your listing…

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The next round of market reports is out! There's been a slight decrease in interest rates for 30 year fixed mortgages, keeping New Mexico in good standing below the national average. There is still a low amount of inventory, which means deals are happening quickly right now. Over the last week, there have been a total of 84 closings, which is a significant increase in comparison to the last market report. This report highlights the fast-paced market that both buyers and sellers are working with right now. We do not foresee an increase in inventory between now and the next market report, so if you're interested in buying or selling give us a call and we'd be happy to work with you!

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Another week in the books! Rates did have an uptick again, and we expect to see them go up consistently, but they are overall statically low. We have seen an uptick with out-of-state clients finding quality properties in and around the Santa Fe area. Inventory has been low, and pricing is still being affected by the lack of inventory. Current clients have found success with off-market properties, still in construction, and other homes that have fallen out of contact. 

Most of our clients have had to act fast and make quick decisions on properties once they come to market. Some homes are allowing a full week for offers to allow all interested buyers to have an opportunity to make a purchase. These usually work more in the seller's favor than…

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Santa Fe market report update. Another consistent week of low inventory. There is a total of 247 homes currently on the Santa Fe market. There was a total of 37 sales that took place this week. The median price point for sales was $439,000. Rates have stayed relatively consistent but are still a bit up from what they were. Some of our clients in the last month were locking in 2.7% on their interest rates. Right now 3.09% is the current rate with solid credit scores. 

There are opportunities in new builds that are currently not on the market. Many of our clients have been able to solidify contracts with new inventory. The current homes on the market are still moving within two weeks of the contract dates of being placed on the market. Anything…

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Another week of low inventory. The trend has been consistent. We have had low inventory for several weeks now, and we’re hopeful it will pick up. In order to do so, we need more houses is listed. There are still opportunities to find good quality homes. Some outside-the-box features are new construction. Locking in an opportunity that may be not on the market yet. Interest rates have stayed consistent for two weeks at 3%. Closings are down from last week by 20%. The average price point was higher and has stayed consistent with increases. We had four closings this past week, featuring the Nava Ade Neighborhood in Santa Fe New Mexico. The new price per square foot set in the neighborhood. We are hopeful to see more inventory come to market. Interested in…

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 Worried about the market after the election? When we research and review market trends, we commonly see consistent trends of drops during and close to the November elections. These trends can be seen up to a 15% decrease, depending on the current consistency of the market and current rates. This year has been very interesting as we have seen interest rates as low as they have ever been for purchasing.

Santa Fe New Mexico Sunset

Another key factor we must review is inventory. This is subjective to your location in the country. In our case, we will be referencing Santa Fe, New Mexico. Our wonderful town where we work and sell. In the past year, we have watched the market trend upwards and follow pricing increases as inventory has stayed low and interest rates have kept on a…

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So you want to be a homeowner... Now what?

Time to start the home buying process! So exciting, but it can also be very scary. So, where do we start?

1st step

Connect with a local loan lender. This is a key component in preparing for your purchase. As a first-time homebuyer, you need to figure out what payment amounts work for you, how much you are eligible to borrow, and what other types of incentives may be available to help you purchase your first house. In many cases, first time home buyers may be eligible for down payment assistance and other cool options. Your local lender will be tied in with your state incentives that might work for you.

2nd step

Connect with a local Realtor who specializes in first-time homebuyer purchasing. You…

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