Jan. 31, 2014 February Fun

Angel Fire has two fun filled week-ends coming up in February. On Super Bowl Sunday, Legends Grill is throwing a "super" party. There will be food and drink specials, a free super bowl square, plus door prizes. Join the fun and cheer for your favorite team. Mark your calendar for Feb. 8th, and wax your favorite shovel. Angel Fire will be hosting their annual shovel races. GO FAST.........WIN PRIZES!!!! While you are here, be sure to stop by New Mexico Mountain Properties and check out our many fabulous real estate offers. Want a condo close to the slopes? New Mexico Mountain Properties has several at great prices. Maybe you want a larger home, New Mexico Mountain Properties has so many too choose from, you will surely find your dread home. Want to build your own home? No problem, New Mexico Mountain Properties has lots as well as 10 and 20 acre tracts will fabulous views of mountains as well as lakes. Remember folks, it's a buyers' market right now and New Mexico Mountain Properties was to be your realtor.

The National Association of Realtors' Pending Home Sales Index is a forward-looking indicator that tracks contract signings, not closings. The index, which is released monthly, is a predictor of future existing-home sales.

In December, the index fell 8.7 percent from November's downwardly revised total. Lawrence Yun, NAR's chief economist, said unusually disruptive weather across large stretches of the country forced people indoors and prevented some buyers from looking at homes and making offers. According to Yun, rising home prices and lack of for-sale inventory are also to blame for the poor sales performance in December. Still, existing-home sales are expected to be at about the same level this year as last year, despite the fact that inventory is limited in much of the country. Prices, though still rising, are expected to moderate this year, gaining about 5.4 percent in 2014.

December and January are always slow months for real estate in Taos. Most people visiting Taos in the winter are here to ski, not to look at homes or condos. But they love their time here so much in the winter, many people call us in the spring, hoping to find their perfect ski condo or vacation home. Taos definitely leaves a lasting impression on visitors during every season. Lots of summer visitors staying in town look for condos or vacation homes out on the mesa. And of course those skiers love to be in the mountains. Taos has such a variety of landscapes and recreational options, it's easy to pick the place of your dreams.

Though prices usually weaken at the end of the year, the most recent S&P/Case-Shiller Home Price Indices show year-over-year increases of nearly 14 percent in both the 10-city and 20-city Composites through the end of November 2013. The gains continue the upward trend of year-over-year improvement that began in June 2012. David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, said home prices continue to rise despite last May's jump in mortgage rates. According to Blitzer, mortgage applications for purchase were up in recent weeks which validates home builders' optimism as seen in the most recent survey from the National Association of Home Builders. Combined with low inflation, homeowners are enjoying real appreciation and rising equity values, Blitzer said. Though home price increases are expected to moderate this year, Blitzer feels housing will make further contributions to the economy in 2014.

Absolutely, things are turning around for sellers; more equity, better value for their homes. This should give Taos and Angel Fire homeowners incentive to market their home or condo, giving buyers more choice when buying Taos real estate, and when we have a bigger selection of properties, prices come down. Come on out this year and see what Taos and Angel Fire have to offer: land, homes, condos, casitas . . . Taos and Angel Fire have what you're looking for in real estate!

Freddie Mac's U.S. Economic and Housing Market Outlook for January finds four of the key housing indicators moving in the right direction to begin the year.

The unemployment rate, though still high at 6.7 percent, is vastly improved and should continue its gradual path to a more consistent and historically normal level. Mortgage delinquencies have also shown great improvement, having been nearly cut in half since their peak. Finally, both affordability levels and home sales continue to trend in the right direction, with the average mortgage payment remaining very affordable in most markets – suggesting there's still room for more recovery in home prices.

Frank Nothaft, Freddie Mac's chief economist, said the housing recovery continues on a steady pace. According to Nothaft, home prices should rise about 5 percent this year, while home sales – along with other key indicators – will continue to trend in the right direction.

This is good news for sellers, so attention buyers: Get on out here while prices are low, interest rates are low and sellers of Taos and Angel Fire homes and land are eager to sell for a reasonable price. We know prices on homes, condos and land in Taos and Angel Fire could go up as the economy continues to improve. What are you waiting for?

New residential construction ended 2013 at the highest level in six years, according to estimates from the U.S. Census Bureau and the Department of Housing and Urban Development. An estimated 923,400 housing units were started last year, which is 18.3 percent above year-before levels and the best total since 2007. That year, housing starts came in at 1.4 million. Still, despite a strong finish year-over-year, monthly figures fell in December. Privately-owned housing starts dropped 9.8 percent, after surging to the highest pace of the year the month before. But, though starts fell nearly 10 percent, December's estimate was still the third best month of 2013. Also in the report, building permits were down 3 percent from the previous month. Permits – which are a barometer of future building activity – ended the year 17.5 percent above 2012's estimate. There were an estimated 974,700 housing units authorized in 2013.

And guess what this means . . . land sales will be coming back, too. As we run through the inventory of existing homes, buyers will more and more consider buying land and building their dream home.

We have plenty of land for sale here in the Taos and Angel Fire areas. Prices have come down from their 2008 highs. And building sites here are varied. From lots of one to two acres to your own ranch or ranchette, we have what you're looking for. Want to live in the mountains surrounded by trees, or would you rather be out on the mesa with 360-degree views, looking at the mountains? Taos and Angel Fire offer the perfect land situation for your new home.

According to the Mortgage Bankers Association's Weekly Applications Survey, total mortgage loan application volume increased 11.9 percent last week due to a significant drop in the average mortgage rate. The Refinance Index was up 11 percent and the seasonally adjusted Purchase Index rose 12 percent. The previous week's results included an adjustment for the New Year's. Michael Fratantoni, MBA's chief economist, said the drop in rates triggered a pickup in refinance volume, while the change in purchase activity most likely reflects an increase following the holiday season. Still, the gain in purchase demand was more than anticipated and may indicate a strong selling season this coming spring and summer.

The MBA's survey covers more than 75 percent of all U.S. retail residential mortgage applications and has been conducted weekly since 1990.

The feeling in our offices here in Taos and Angel Fire is that all the calls and emails we've been getting is foretelling a great selling season. And this new interest rate decline can only help, and help a lot!

Most buyers interested in this area, for the past three or four years, have been buying homes; land sales haven't been great because it's been cheaper for buyers to purchase a home already built than to buy a piece of land and build. But that could be changing; in the last two weeks I've had land inquiries that I hope will produce two land sales. In January??? Land may be on the rise, and I'm not talking about new islands, either. This is New Mexico.

Come out and visit us this spring or summer. We'll help you find your special piece of Taos or Angel Fire real estate.

Nationwide, housing and economic activity is 86 percent back to normal, based on current permits, prices, and employment data.

In fact, more than 35 percent of all markets tracked by The National Association of Home Builders Leading Market Index are operating at 90 percent or better of their previous normal. The index tracks 350 metro areas across the country and identifies those that are now approaching or exceeding their previous norms. According to the most recent release, 56 out of those 350 have returned to or surpassed their normal levels of economic and housing activity. And nearly half of the improved markets are areas with populations less than 500,000.

David Crowe, NAHB's chief economist, said 45 percent of metro areas are recovering at a faster pace than the nation as a whole, with smaller markets leading the way. The results are a good sign that the housing recovery's progress will continue in 2014.

Here in the Taos and Angel Fire real estate markets we're getting lots of calls and leads from national websites for buyers looking for condos and vacation homes, and even land is making a comeback. It's early in the year to be getting so many inquiries because our selling season doesn't catch fire until late April. Get in while the getting's good.

Jan. 14, 2014

Good "ole" Texas Days Beginning Thursday, Jan. 23, Angel Fire Resort will be celebrating "Good Ole Texas Days" weekend. Be sure to sign up for your VIP package. This package includes discounts on lodging, tickets, first tracks and a special "meet and greet" with their musical guests. Also during the month of January, lodging rates run as low as $98.00 per night. What a deal! Don't forget to take time out from all this fun, to visit New Mexico Mountain Properties and check out our excellent deals on real estate. New Mexico Mountain Properties is sure to have your dream home at a very affordable price. Want to build your own dream home? New Mexico Mountain Properties has lots, and 10 to 20 acre parcels that have been drastically reduced. Prindle Brothers Construction, located in the same building, has numerous plans for you to choose from to build your dream log home. What can be more perfect than finding your perfect parcel of land as well as your perfect dream log home all in one stop?

Trulia's Housing Barometer has been tracking the housing market's recovery since February 2012.

The Barometer measures how quickly the market has been returning to normal by comparing existing-home sales, prices, delinquency and foreclosure rates, new home starts, and the employment rate for 25-34 year-olds against their pre-bubble normal and their lowest reading during the housing crisis.

The most recent release shows that three of the five indicators have improved significantly over the past year and are now close to normal.

Existing-home sales, for example, are 79 percent back to normal, up from 51 percent a year earlier. Prices also have recovered dramatically from a year ago and are now 71 percent back to normal.

Among the other indicators, foreclosure and delinquency rates have recovered 59 percent, while new home starts and employment levels still have a ways to go. Overall, the recovery has been uneven but, at the current pace, non-distressed sales and home prices could reach normal levels this year, with the other indicators taking a bit longer to fully recover.

Listen up, buyers for the Taos and Angel Fire real estate market! This sounds to me like prices may eke up a bit this year. You know Taos and Angel Fire are two of the best small towns in the U.S. Buyers from all over have flocked here in recent years to buy condos, single family homes, land and vacation homes and casitas. 2014 may be just the right time to get out here and see what's available. Your piece of paradise awaits!

Jan 10, 2014

Ski for Free January is National Learn to Ski month, and Angel Fire Resort has some phenomenal bargains for beginners of all ages. The High 5 School consists of 5 lessons at a great price. When you complete your 5 lessons, you get a free season pass. What a deal!! Don't forget about "College Days." Through Jan. 16th college students get $40.00 lift tickets plus 50% off lodging. All you need is your current college student ID. You will surely fall in love with this fairy land called, Angel Fire, and will want your own perfect place so you can enjoy it year round. Take time out from your fun on the slopes to stop by New Mexico Mountain Properties, and explore out many real estate options. New Mexico Mountain Properties has Condos close to the slopes, as well as homes, lots and acreage at reduced prices. Also located in the same building is Prindle Brothers Construction, ready to build your dream log home. New Mexico Mountain Properties and Prindle Brothers Construction are ready and waiting to satisfy all you real estate desires.