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Testimonial Letter

Thursday, July 14th, 2011

I wanted to take a moment to commend Liz Sheffield with regard to my recent home purchase in Santa Fe.

We came to Liz purely by coincidence – she was the listing agent for the home my wife and I saw online, but from the first time we spoke she was knowledgeable, accommodating and very helpful.  As long- distance buyers, it was essential to find an agent we could trust to take care of us, and after speaking with Liz regarding our needs for our Santa Fe home, it was apparent that she had our priorities in mind at all times, from her honest assessment of location and functionality to our specific needs as second-home owners.

Further, we found her knowledge not just of the Santa Fe area, but 

also of craftsmen, contractors and home repair firms invaluable.  

Although the property we ended up buying did not need excessive work, Liz was able to recommend several craftsmen to us for a series of small-to-medium projects that we wanted to start with immediately.

Simply put, Liz knew the city, knew her properties, and most importantly, took time to learn about her clients’ needs, and those things reflect highly both on her professionalism and on your organization. I would not hesitate to work with Liz again in the future, and would unhesitatingly recommend her to any associates of mine that might be looking for a property in Santa Fe.

Best Regards,

James Leasure

Courtney Clark

How To Lower Your Property Tax Bill

Thursday, July 7th, 2011

June 6, 2011

Agents, share this post with all of your clients. In case you didn’t know, many homeowners are paying property taxes based on the inflated bubble value.

Its common for the tax assessors office to continue charging the higher amount until the owner goes through the process of contesting the bill. Fortunately, its realitively easy to have your property tax assessment lowered…here’s how:

To get your property taxes reduced on the basis of the recent decline in market value:

Search Yahoo! or Google to find the Web site for your County Tax Assessor’s Office or Tax Collector’s Office.

Go to the Forms section and look for a form with the words “reassessment request” or “decline in market value.” If you can’t find it, give the office a ring and ask them to fax, mail or email the form to you.Usually the request will ask you for (a) an estimate of the current market value of your home, and (b) a list of recent, comparable sales in your neighborhood supporting that estimate of value.

Call up the Realtor who sold you the house and ask them to complete the form for you or to at least provide the information you need about comparable sales. They want to keep you as a long-term friend, client and referral resource, so 9 times out of 10 they’ll do it for you.

Alternatively, find a trustworthy online comparables site, like CyberHomes.com, where you can get both an estimated value and a list of the comparable sales on which it was based.

Keep in mind that you are trying to make the case that your property value is significantly lower now than when you bought it, so list legitimate comparable sales which support that argument or you are wasting your time! And keep in mind that if you bought your home 10 or 20 years ago, your property’s assessed value might not be out of whack with current market values, even though your home’s market value may have declined from the peak of the market.

Sign it and mail it! Allow several weeks, then call and check on the progress of your request. If it’s accepted, you’re golden — for this year. Most areas require you to revisit the reassessment issue every year. If it’s denied, there will be a more formal application and appeals process available to you, and you can decide at that time whether it makes sense to undertake that.

This weeks most popular real estate news

Wednesday, March 16th, 2011
 

 

Real Estate

 

 

REALTOR® Magazine-Daily News-Survey: Buyers, Sellers Optimistic About Housing – realtor.org

 

Nearly 70 percent of buyers and sellers say they believe a real estate recovery is on the horizon and that real estate is a good investment, according to a new survey.

 

Read full story  

 

 

 

Foreclosure Activity Sinks to Three-Year Low – dsnews.com

 

New data from RealtyTrac shows that foreclosure filings nationwide dropped 14 percent between January and February, as overall activity last month sunk to its lowest level since February of 2008. RealtyTrac says total…

 

Read full story 

 

 

 

Double-digit rent rise is coming to the housing market. – money.cnn.com

 

Renters are coming back to the housing market, and they’ll force rents much higher.

Read full story

 

 

 

REALTOR® Magazine-Daily News-What Buyers Want in Homes Today – realtor.org

 

Buyers have a long list of what they are looking for in homes. Bankrate.com highlights a few of their top home shopping desires.

 

Read full story 

The Best Time in History to Buy a House

Monday, January 31st, 2011
Right now, is the best time in history to buy a house in America.
 
Today, I’ll show you why… based on a few cold, hard facts.
 
First off, mortgage rates are lower than they’ve ever been in American history…
 
Most investors have only seen a couple decades of mortgages rates on a chart. But my friends at Global Financial Data have databases – including real estate data – that literally go back centuries.
 
I had dinner with the Global Financial Data team over the weekend. And they told me about their “Winans International” real estate indexes, with housing prices back to the 1800s and mortgage rates going back over a century. I had to share it with you…
 
Take a look at this chart of mortgage interest rates since 1900:
 
 
As you can see, current mortgage rates are the lowest in U.S. history.
 
When were mortgage rates even close to this low in the past? Just after World War II…
 
And what happened, just after World War II, when mortgage rates were this low? The greatest postwar boom in housing prices – by far.
 
 
Take a look. Mortgage rates bottomed in the mid-1950s, and house prices bottomed about the same time. Then the greatest boom in home prices in our lifetimes started.
 
Today we have record-low mortgage rates. And we have another thing in our favor…
 
Homes are more affordable than ever.
 
Based on the 40-year history of the Housing Affordability Index… houses are more affordable than they’ve ever been. Take a look…
 
 
“Affordability” takes three factors into account: home prices, your income, and mortgage rates.
 
Home prices have crashed. And mortgage rates are at record lows. But incomes (nationwide) haven’t fallen nearly as much… So homes are now more affordable than ever.
 
“Most people” out there will only tell you the bad news about housing… That’s the way it goes in a bear market. People drive looking in the rearview mirror.
 
Meanwhile, we have some darn compelling facts out there…
 
Home prices have fallen by a third… and mortgage rates are the lowest in history. Therefore, U.S. homes are more affordable than they’ve ever been.
 
You can listen to “most people.” Or you can choose to ignore them and stick to these facts.
 
Based on these facts alone, now may be one of the best times in American history – even the very best time – to buy a house.

Pending Home Sales Continue Uptrend

Monday, January 31st, 2011

Washington, January 27, 2011

Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors®

The Pending Home Sales Index,* a forward-looking indicator, increased 2.0 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2 percent below the 97.8 mark in December 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, credits good affordability conditions and economic improvement. “Modest gains in the labor market and the improving economy are creating a more favorable backdrop for buyers, allowing them to take advantage of excellent housing affordability conditions. Mortgage rates should rise only modestly in the months ahead, so we’ll continue to see a favorable environment for buyers with good credit,” he said.

“In the past two years, home buyers have been very successful, with super-low loan default rates, partly because of stable home prices during that time. That trend is likely to continue in 2011 as long as there is sufficient demand to absorb inventory,” Yun said. “The latest pending sales gain suggests activity is very close to a sustainable, healthy volume of a mid-5 million total annual home sales. However, sales above 6 million, as occurred during the bubble years, is highly unlikely this year.”

The PHSI in the Northeast increased 1.8 percent to 73.9 in December but is 5.3 percent below December 2009. In the Midwest the index rose 8.0 percent in December to 84.6 but is 5.1 percent below a year ago. Pending home sales in the South jumped 11.5 percent to an index of 101.9 and are 1.7 percent above December 2009. In the West the index fell 13.2 percent to 105.8 and is 10.7 percent below a year ago.

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.

Time to ski!

Monday, December 13th, 2010

Ski Santa Fe is finally opened. 

Click here for more information on skiing in Santa Fe.

The Top 10 Housing Markets for the Next 10 Years

Wednesday, June 10th, 2009

Home prices in these 10 cities will appreciate handsomely over the next decade. (more…)

Good Economic News as GDP Rate is Higher Than Expected

Wednesday, April 29th, 2009

The gross domestic product (GDP) was higher than expected in the first quarter, leading many to believe that the economic recession may have hit its bottom at the end of 2008. (more…)

Museum-Quality Tile Artwork Can Add Value To Your Home

Saturday, January 3rd, 2009

Creating lasting images through tile helps sustain value in your home while bringing unique décor that sets your home apart from the rest…

(more…)