Mortgage Interest Rates continue to vary from day to day as both Buyer and Sellers adjust to the mortgage rate shock begun in 2022. Here is a general interest rate update for your information and home buying plans as of today. Program                                                  Rate                                 APRConforming 30 Year Fixed                     6.5%                                  6.567%Conforming 15  Year Fixed                     5.500%                              5.608%Jumbo 30 Year Fixed                               6.250%                              6.280%Jumbo 15 Year Fixed                                6.250%                              6.406%FHA 30 Year Fixed                                    6.250%                               7.333%VA 30 Year Fixe... 01/14/2023

Today's housing market in Santa Fe, New Mexico is absolutely nothing like it was 15 years ago --- both in Santa Fe and nationwise. There’s no doubt today’s housing market is very different than the frenzied buying and selling of real esatate in the pandemiic housing boom. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences. In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle: Looking at the those facts, it’s ... 01/13/2023

Mortgage Interest Rates continue to vary from day to day as both Buyer and Sellers adjust to the mortgage rate shock begun in 2022. Here is a general interest rate update for your information and home buying plans as of today. Program                                                         Rate                                     APRConforming 30 Year Fixed                         6.625%                                 6.07%Conforming 15  Year Fixed                         6.000%                                6.128%Jumbo 30 Year Fixed                                  6.375%                                  6.417%Jumbo 15 Year Fixed                                   6.375%                                  6.551%FHA 30 Year Fixed                                       6.250%              ... 01/07/2023

Avoid the Santa Fe Rental Trap in 2023Are you a renter in Santa Fe, New Mexico? If so, you likely face an important decision this year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the true costs of renting moving forward, especially in our rental market. Here a 2BD 2BA apartment rental in one of the new buildings that popped up over Santa Fe during the pandemic ranges from $1800 to $2200 a month! In the past year, both current renters and new renters have seen their rent go up based on information from realtor.com: “Three out of four renters (74.2%) who have moved in the past 12 months reported seeing their rent increase. The strain from recent rent hikes isn’t exclusive to ... 01/07/2023

What's happening in Santa Fe, New Mexico as this 2023 New Year begins. There are many events and performances to enjoy after a day at Ski Santa Fe which is located only 16  miles north of the Historic Plaza. As we roll into 2023, here is what to look forward to in  our city in January: Pink Martini, R.E.S.P.E.C.T, Aaron Diehl Trio and Jason Marsalis, The Modern Jazz Quartet, Mireya Ramos, Danish String Quartet, The New Mexico Hip Hop Awards, An Evening With Lyle Lovett and more. Learn more and get tickets here at Santa Fe's Lensic Theater. Leaving the Santa Fe Ski Basin just before sunset you can expect to see one of these sunsets which seem to be a regular gift to all those who live and live Santa Fe over nearly every early evening. Now if you know you love Santa Fe and want to see the... 12/30/2022

            6113 Vuelta Ventura Santa Fe NM 87507 FOR SALE - Imagine This Deal! 4 BD 2 BA 1430 Sq Ft w/one car garage conversion on .1 ac lot with easy access to everything important in Santa Fe from Presbyterian Hospital, Restaurants, Shopping, Local Businesses, Santa Fe Community College and More. Home Features include: Evaporative Cooling, Skylights, Large Kitchen with gas range, Remodeled Bathrooms, Tile and Wood (Laminate) Flooring and MORE                           Easy Access to 599 for commute to Los Alamos Lab                        Seller Credit Offered To Help Buyer Lower Mortgage Rates Virtual Tour News Flash: Santa Fe market cooling off in recent weeks. This destination remains an opportunity for investors and buyers alike. This week the median list price for Santa Fe, New ... 12/17/2022

This 2022 holiday season, if you’re a Santa Fe, New Mexico homeowner, odds are your equity has grown significantly during the pandemic housing boom as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you achieve certain goals. According to the latest Equity Insights Report from CoreLogic, the average borrower with a home loan has almost $300,000 in equity right now. As you weigh your options, especially in the face of inflation and talk of a recession, it’s important to understand your assets and how you can leverage them. This article is a resource to help you understand how much home equity you have and advise you on some of the ways you can use it.  Here are a few examples. 1. Buy a Home That Fits Your Needs If you no long... 12/15/2022

Lamy, New Mexico is only 18 miles south of Santa Fe, New Mexico. The Amtrak Southwest Chief train stops at the Lamy station. Imagine living in Lamy and taking the Amtrak Southwest Sky Chief to Chicago or Los Angeles. Lamy is a small community within Santa Fe County offering a rural surburban lifestyle while connected to Amtrak and Starlink and a short 25 minute drive to the Santa Fe Plaza.Named after Archbishop Jean-Baptiste Lamy, the community began as a railroad town in the 1880s and lies within the Spanish Land Grant. The Lamy Station, now a landmark, began as a railroad depot for the Atchison, Santa Fe, and Topeka Railway. The railway was included "Santa Fe" despite the fact the engineers at the time could not build the tracks to deliver the train to Santa Fe, making Lamy what it is... 12/13/2022

Winter comes to Santa Fe, New Mexico and brings colder temperatures, snow and fun skiing. Typically, this happens in December, January and February. Winter here is over all fairly pleasant with blue skies and sunshine following snowy days. The average temperatures in winter range from of low of 19 degrees to a high of 49 degrees. Our Santa Fe houses do not automatically adjust to winter. Here are some tip reminders to help you easily transform your house into an efficient winter home. Check your flat roof and remove leaves and branches. Cut back overhanging tree limbs. Engage a licensed roofing professional to inspect for any holes or indentations and the sealing caulking around the roof parapets, where roof material connects with stucco.  Repair any windows with cracks, broken panes or... 12/03/2022

Keep reading as there is an answer to your blank screen! Yes, it’s true that record levels of home price appreciation have spurred significant equity gains for homeowners over the past few years. As Diana Olick, Real Estate Correspondent at CNBC, says:“The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners record amounts of housing wealth.”That’s great for your home’s value over the last couple of years, but what if you’ve lived in your home for longer than that? You may be wondering how much equity you truly have. And what happens, when our local real estate market shifts?The National Association of Realtors (NAR) has done a study to calculate the typical equity gains over longer spans of time. The data they compiled could be enough to motiv... 11/28/2022

Do You Have Questions About Selling Your SANTA FE NM Home In Winter?Yes, winter is coming to Santa Fe New Mexico and there is currently a market shift happening this season. Both things do make you wonder it it makes sense to sell your house. Here are three of the top questions you may be asking – and some facts that helps answer them – so you can make a more informed decision. 1. Should I Wait To Sell? Even though the supply of homes for sale has increased in 2022, inventory is still low overall. That means it’s still a sellers’ market. The graph below helps put the inventory growth into perspective. Using data from the National Association of Realtors (NAR), it shows just how far off we are from flipping to a buyers’ market: While buyers have regained some negotiation power as invento... 11/27/2022

Land like this is not made forever. Imagine this place for creating your dream hacienda and Santa Fe lifestyle where you can enjoy dramatic sky and panoramic views forever. This luxury equestrian 12.34 acres of natural beauty is new on the  market in a small gated community with water and Starlink at 19 Del Charro Road, Lamy New Mexico  87540 (in Santa Fe County).Click Here for 19 More Images and Virtual TourHighlights: Panoramic 360 degree mountain range Views, Small Gated Community of 10+ acre deed restricted lots, Eldorado community water service, water meter in place, electric to lot line, STARLINK available, equestrian lot for your dream home, guest casita and horses.Improvements: Driveway in Place, Two choice building sites. Amenities: Rural residential HOA Free Community, Reasona... 11/27/2022

In New Mexico real estate transactions it has become very common for Buyer and Sellers to typically pay for certain costs related to the purchase and sale of a house, condominium or land. Buyer typically pays for these items: escrow fees recording changes for all documents related to transfer of title to buyer prorated share of taxes all new loan charges and lender fees including: appraisal, credit report, tax service fee, loan origination or discount fee, reserves for property taxes and insurance, flood certification and mortgage insurance premium title insurance premium (the lender policy) interest on a new loan starting from the day of funding to 30 days prior to the first loan payment date Homeowner (HOA) or Condomium (COA) owner transfer fees if applicable fire insurance premium fo... 11/25/2022

Even though the top 2022 housing market headlines predicted a crash or a housing bubble burst for 2022, I think this terrier has the right idea about bubbles...they are poofy! Without dismissing buyer and seller fears fueled by media, here are some important realities and facts from housing economists, who are typically pessimistic, to seriously consider. This is not 2009 or a housing bubble 2.0.  A market correction is not the same as a crash or bubble burst. Historically LOW home inventory or 3,000,000 million homes short of meeting buyer demand according to Freddie Mac estimates Buyer demand is still consistent and adjusting due to rapid increase in mortgage interest rates and nearly doubling of them since January 2022.  Mortgage rates are substantially different today. This terrier ... 11/14/2022

In 2022, being prepared for a wildfire is year-round in Santa Fe NM is beyond important, especially when your neighbor is the Santa Fe National Forest! This image from the spring of 2022 is of the Sangre de Cristo Mountain Range and Hermit Peak/Calf Canyon fire.  This view is from my neighborhood, the Vista Encantada S/D. Although this fire was not in Santa Fe County or the City of Santa Fe, the fact it happened changed the risk factors for a wildfire in many Santa Fe neighborhoods. This has changed both the availability and cost of home hazard insurance. Unfortunately, having a conversation about the wildfire risk in a particular neighborhood was not on the minds of many buyers, sellers or their Realtors and Brokers in the past Hot Market. Why?Until this past spring, being a fire-adapt... 11/13/2022

Election Day is November 8, 2022. Many people have relocated to Santa Fe in the past two years. This is your guide to voting in Santa Fe County. Election Day information for Santa Fe County, New Mexico residents for voting and polling locations. All Santa Fe County voters can choose ANY location to vote. All early voting and election-day locations will feature same-day registration. In the general, same-day registration will only be available unregistered voters. Please bring 1.) photo ID showing your address, or 2.) a photo ID and a bill or document showing your name and address or 3.) a student ID and current school financial statement. Here is the link to the Office of the Santa Fe County Clerk, voting hours, polling locations and a map. Polls open at 7am and close at 7pm.    11/07/2022

Buyers, you may remember the famous line in the Dirty Harry movie when Clint Eastwood has just had a shootout with bank robbers and is standing in front of the lone surviving thief who is considering going for his gun. Harry with his gun pointed at the bad guy says to him ""Did he fire six shots or only five? Well, to tell you the truth, in all this excitement, I kinda lost track myself. But being this is a 44 Magnum, the most powerful handgun in the world and would blow your head clean off, you've gotta ask yourself one question: Do I feel lucky? Well, do ya?" Ok what are some facts? Our economy has had a long recovery from the great recession, due in most part to the housing crisis of 2007-2009.  Then, the Pandemic hit in 2020 which tanked the worldwide economy but the surprise to hom... 10/27/2022

The lst Snow arrived in Santa Fe yesterday, October 24,2022 on the crest of the Sangre de Cristo Mountain range seen here from a vantage point on Old Taos Highway overlooking the Vista Encantada subdivision. Beautiful, isn't it! Now what else is up there?  Well if you love Santa Fe and love to Ski, you are looking at the Santa Fe Ski basin approximately 16 miles from the Santa Fe Plaza.Here is the link to the web cam for 3 separate snow views at the Ski Basin from SkiSantaFe. There you can spend your day on the ski slopes and experience everything at Santa Fe as well. Expected opening is November 22, 2022. If you want this view everyday, check out homes for sale in this Vista Encantada subdivision with views of the mountains here.Thank you for reading and/or commenting on this blog post... 10/25/2022

Here is what happens in Santa Fe NM when the sky shifts at Sunset! It is both a blessing to witness and a reminder that change surrounds us with opportunities. Sometimes a sunset can spark our imagination to see things differently. In our real estate world now, the word "shift" has another meaning. Maybe it is time to see those as opportunities and explore new ways to respond to change.Now if you are sold on New Mexico and on the move, you can search for homes and find valuable real estate information, facts and news here. Let's connect soon and maybe someday you can see these glorious sunsets!Thank you for reading and/or commenting on this blog post. Words and image created by Emily Medvec. 10/23/2022

941 Calle Mejia Unit 715 Santa Fe NM 87501Asking $300,000   2 BD 2BA  Sq Ft 868 Updates: New Stove, Water Heater, Custom PaintingVirtual Tour LinkAmenities: All Year Pool, Fitness and Clubhouse, Gated Community, Low HOA at $279/month --- minutes to Plaza, shopping, Santa Fe Opera, Ski Basin and Los Alamos Lab. Call 505-660-4541 for more information about how Emily Medvec sells Santa Fe NM properties. Or if you are interested and ready to jump in to a 2nd home or investment one like this condo home near the Plaza, let's connect today.  10/23/2022