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Santa Fe County : Real Estate Advice

  • All13
  • Local Info0
  • Home Buying7
  • Home Selling0
  • Market Conditions1

Activity 71
Wed Feb 9, 2011
Scott Godzyk answered:
Krys it is hard to guess why anyone would not email you back. The Real Estate market is not as bad as you think, the experienced agents are very busy, for me sales are back to the 2005 levels. There is a great amount of potential buyers but fewer houses on the market.

If you used a link from Trulia unfortanately alot of potential buyers get lumped in with the shear amount of spam that comes through the lead button for agents and may get lost in it.

To email from someones site though, there is no excuse not to return an email. I would just make sure you put a topic in your email so agents know you are a serious buyer and not a spammer.
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Mon Dec 20, 2010
Elisahbai asked:
Wed Feb 22, 2012
Anna M Brocco answered:
Consider consulting with an attorney who specializes in real estate--he/she can best advise as to the addendum and possible options you may have--what is your agent advising...
0 votes 6 answers Share Flag
Sun Nov 14, 2010
Rich Cederberg answered:
To begin with Zillow is notoriously inaccurate, and since New Mexico is a non-disclosure state, the only data that Zillow has to create their zestimates is the sales data that agents choose to provide. Most brokers don't choose to do that so there is insufficient data. Even Zillow admits their Zestimates are inaccurate. I went to a Zillow presentation this spring and the Zillow representative touted how Zestimates were on average within 11% of the actual value. That's a wide margin of error and that's probably the margin in disclosure states where they have sufficient data. From what I've seen the margin of error in NM is even greater.

Sold data is difficult to find here in our state. Even if you stumble upon a website or web form advertising closed sales data they are usually providing estimates since they don't have the real data. Our MLS does not feed that data to websites like it does the home for sale information.

The only way to get the closed sales data is to contact a real estate agent. Once you are ready to buy and have selected a real estate agent they will be able to provide you with information on sold comparables. Until then beware the inaccurate data that's out there.
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Sun Oct 3, 2010
Bill Eckler answered:
Hi Cat,

Your question is a good most enterprises Zillow has strengths and weaknesses. You have unfortunately identified one of the later.

Essentially, Zillow views real estate in a particular area from the perspective of homes distance from a subject home......often not taking into consideration that there may be several very different types of communities within their perameters...usually a one mile radius.

Therefore to use their information with accuracy, it would be important to know the various communities and be able to organize the homes into groups from similar communities. Zillows resources are accurate...they come directly from the tax records...unfortunately, they do not have the ability to analyze a given location in the detail necessary to be able to provide solid values for homes......

In our opinion, one should take great care when considering services offered as "canned" reports. The best approach is to utilize a real estate professional that know and understands your target community.

Good luck,

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Wed Sep 22, 2010
Steve Rizika answered:
Dear Cs:

Unless you can carry the costs for over a year I would not contemplate building such a home in this particular market. It could fly if you could sell from the 475 to 525 range and should be 1800+ square footage.

That is my 2 cents....anyone have something different to say?
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Thu Sep 2, 2010
Spence Ralston answered:
Donna - Here are the stats you requested:
There are currently 145 houses for sale in Las Campanas. They range from $425,000 - $7.5M. Of these 61 are over $1M.
Since January 1, 2010, 18 homes have sold in Las Campanas.They ranged in price from $475K - $4.175M. Of those, 7 were over $1M, 5 were in the $900Ks, 4 were in the $700s and 2 were in the $400s.

Thus there is about a 5 year absorption rate for homes costing more than $1M and about a 4 year supply of homes under a million.

There are 2 foreclosed homes in Las Campanas.

I hope this answers your questions. If not, let me know.
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Sun May 24, 2015
Victoria Murphy answered:
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Thu May 6, 2010
Spence Ralston answered:
It depends on the area within the zip code. I picked three of the most prevalent sections for your information:

Area Average List Price Average Home Size (Sq.Ft.) Avg. Cost/Sq.Ft.
Airport Road $233,162 1497 $158
Southwest $423,305 2092 $203
Southeast $866,034 2967 $294

Keep in mind that just several extremely low, or high-priced homes can skew the figures in either direction. Also, these are averages for single family homes only. I did not include condos, townhomes, etc.
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Sun Jan 27, 2013
Patrick Thies answered:
You make an offer just like you would any regular transaction. There may be addendums that need to be included with your offer. Short sales will be subject to bank approval.

With a short sale you are dealing with the current owner first, not the bank. The current owner tries to sell the property for market value. Once they have an accepted offer they will take it to the bank for approval. The bank can accept, counter offer or deny the offer. It could be several months before you hear back from the bank. It will depend on the bank and how many short sales they are dealing with.

Foreclosures are already bank owned to you are dealing directly with the bank. It can go a little quicker, but again it will depend on the bank and the amount of foreclosures they have.

Once the bank accepts the offer they will give you a closing date. You need to be ready to go, the banks don't like delays once the deal is ready to close.
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Fri Nov 20, 2009
Don Tepper answered:
Sure. There are hundreds of such programs.

For good general real estate investing information, go to

For real estate investing clubs in New Mexico, go to

Hint: You don't have to pay thousands of dollars for programs or courses, though you'll find plenty that cost $995, or around there. And you'll find some expensive mentoring programs that cost $15,000 or more. Go to a few meetings of a few real estate investing clubs and get a feel for what's out there and what people are doing.

Hint: What you're specifically interested in is called wholesaling. That's putting a property under contract, then assigning the contract. You can put a property under contract for as little as a dollar--some investors routinely make offers with a $10 payment. You get a contract with the owner (with language protecting you in case you can't wholesale the property), then assign the contract to another investor, usually a rehabber. Depending on what the market's like where you are, you might make $5,000-$15,000, on average, per deal.

Hope that helps.
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Sun Nov 14, 2010
Dan Chase answered:
Find another site. Trulia is just for properties that are for sale. Sorry, craigs list is good for what you want, trulia is the wrong entrance for the market you seek.
0 votes 4 answers Share Flag
Sat Jan 14, 2012
Brandon DENT answered:
Stay away from the areas that have Covenants and Restrictions, usually the developed communities. The more rural areas don't usually have them.
0 votes 5 answers Share Flag
Sun Jan 17, 2010
Dallas Texas answered:
Are you talking about marketing your home? Or have buyer purchase home never see it as we might do when we purchase a gift for someone?

Speak with listing agent therefore you can comply with State laws market or sale any home and comply with state statues.

If you are doing a FSBO .... do you realize most home buyers turn to Realtor search for their home purchase than a FSBO.

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Tue Oct 27, 2009
Susan Orth answered:
Generally 'Pending Please Show' means there are outstanding contingencies on the contract such as inspections, loan approval or an appraisal. The seller wants to continue showing the property and possibly take a back up offer until all contingencies have been satisfied. Once that happens the status should be changed to 'Under Contract.' ... more
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Mon May 21, 2012
Elizabeth Herbert answered:
Contact a lawyer to see what the specific laws of your state are regarding breach of contract.
0 votes 6 answers Share Flag
Mon Jul 27, 2009
Spence Ralston answered:
Jc - Where are you seeing "and -'s"? I'd like to help you but I've looked at a couple of search sites and cannot see what you are referring to. Thanks.
0 votes 3 answers Share Flag
Sun Jul 19, 2009
Rich Cederberg answered:
You should still make an offer if you want the house. The listing agent may not submit the offer to the bank, but they will hold on to it as a back up offer. 4 out of 5 buyers who make offers on short sales eventually pull their offers because they get tired of waiting or they find another house. If your offer is already with the listing agent, when the original offer is pulled yours can be submitted immediately. By this time the bank may have completed their appraisal and may be ready to move ahead with selling. First offerers rarely get the house. It is usually one of the back ups on a short sale. ... more
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Thu Apr 2, 2009
Marcia Leary answered:
Nancy - first thing to do is sit down with the mortgage company and review all options right away! There are some good programs out there right now for refinancing but it just depends on your specific situation.

I have a few great mortgage contacts I use for my buyers/sellers here in Santa Fe if you would like to speak with them.

Not sure where your home is located but the market is picking up again. If you want to talk further or would like the names of my mortgage folks, I'd be happy to provide them to you. Just email me.

Marcia Leary
Assoc. Broker/EcoBroker
Prudential Santa Fe
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