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…
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…
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.
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…
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…
Tired of the same old Netflix nights on the couch? Plan to check out the Santa Fe Motorama drive-in movie theater. They have tons of great options every Thursday- Sunday nights. With themed movie events, car shows, and dance-offs!
Each space at the Drive-in is separated with a good amount of space so you feel comfortable sitting outside. We definitely felt comfortable, with the space meeting the COVID rules.
We have done it a total of five drive in nights, and its been a blast each time. So far we have seen Dirty Dancing, Grease, Lala Land, Pulp Fiction, 50 First Dates, and plan to see more.
Every night there are food trucks parked out so you can plan to pick up some local Santa Fe food Favorites and snacks so plan to come…
Getting your Santa Fe home ready for pictures can be a bit tricky. As we know, the internet helps to do the majority of our Santa Fe Real Estate transactions. So having a quality presentation of your home is imperative to a successful sale!
Three pro tips
Tip 1 Declutter
Remember less is more, just because you love all your cool stuff doesnt mean everyone else will like all the space it takes up. Try to remember you are not selling your stuff; you're selling your house. So focus on showing off the cool features of your home. Clear all the items of your granite countertops or your marble sinks.
Tip 2 Hide your pictures.
People will not want to see pictures of your Tio and Tia in Cancun or the picture of you receiving your bowling trophy.…
When is the right time to buy? Should I wait till the market takes a turn? What about interest rates?
All good questions to ask. In the end, the main question is.....Do interest rates outweigh the cost of purchasing in a Seller's market?
So here is something cool to think about. Many of our clients say they want to wait until the market cools down. Give a little time and see if they can save on their home purchase. When we are asked this question, it is hard to judge and adds a lot of subjectivity to the answer. The current Santa Fe Home Market has stayed strong even with COVID. So far we have not seen medium prices fall, they have stayed consistent and even raised in some cases 3-6% in current market value.
So is buying a…
Title insurance is a key component to the purchase and sale of your home. In a nutshell, it helps to protect you from past liens, encroachments on your property, and a plethora of other things. For more information, contact Escrow Officer Andrea Padilla to help guide you through the closing process and give you all the information you need to feel confident about your transaction.
Andrea H. Padilla
Escrow Officer
License Number 18083283
236 Montezuma Ave.
Santa Fe, NM 87501
505-946-2907 Direct
Andreap@swt-e.com
www.sftitles.com
Selling your Santa Fe home in 8 Steps
Step 1: Choose the Right Santa Fe REALTOR®
Selling your home in Santa Fe can be made more straightforward when you have someone looking out for your best interests, and that is accurately representing you. This is why picking the right Santa Fe agent listing agent is so important! A listing Agent work’s to not only market your home effectively, but they will also help you navigate the current Santa FE Real Estate market to ensure you get the best deal possible for your home. A REALTOR® is a licensed real estate agent that is an active member of the National Association of Realtors (NAR).
We recommend asking friends and family members for recommendations, reading reviews, and ensuring you pick the right agent…
