Santa Fe Real Estate Blog by Tom Trujillo

City home sales drop 36% in 4th quarter
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The New Mexican didn't paint such a rosy Real Estate picture in the City Different. I've been telling customers, Santa Fe is a "Buyers Market" and today’s article confirms it. So what does that mean to you?

If you're selling, it's all about value. During the holiday, I was out with a number of buyers, who were looking for, "a great deal"! They're looking for new paint, clean carpets and working appliances. The home needs to be in order. I showed numerous properties where the home-owners barely made the beds or hung around the house when I was showing the property. This is totally unacceptable. The web has made it very easy for the "Buyer" to compare values just by linking to the IDX.

If you're buying, this is a great time to buy in Santa Fe. Although the news is that the 4th quarter was down 36%, there was a lot of buzz in our office during the holiday with out of town buyers checking out what's available. A number of my listings showed more than once during the holidays with promises of customers coming back in February and March. I've seen this before back in 1991, when I first earned my license. There was a large inventory in the beginning of the year but by years end the pickings were slim and we began to see an upturn in prices. If you have good credit, the interest rates are extremely good. If you're buying cash, well we all know that's King.