General

11 Reasons Your Home Might Not Be Selling

  1. You overvalued your property. If your house is overpriced, it’s simply not going to sell. Compare your property to similar properties that recently sold within your area to get a better idea of its true value. An experienced real estate agent can give you an accurate value of your home. Additionally, don’t make the mistake of tacking on the cost of any renovations you made. You can’t just assume that the cost of a renovation translates to added value.

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Lyle Anderson- Mixed Residential and Commercial Project named “Plaza la Tierra.”

August 7, 2017
A community meeting was held on the evening of August 2, 2017, at the Unity Church located at 1212 Unity Way, Santa Fe, NM 87506. The meeting was hosted by Joseph Karnes, a partner of Sommer Karnes & Associates, LLP, lawyers representing Santa Fe 300 Investments, LLC (the “Developer”), whose principals are a group of investors led by Lyle Anderson, the former developer of Las Campanas, and the Bass brothers of Ft. Worth, Texas, scions of a Texas oil and gas dynasty. The Developer owns a parcel of land consisting of approximately 304 acres lying north and west of Highway 599 on both sides of Camino la Tierra (the “Property”).

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Market Update Dec 14, 2016

For the week of December 12, 2016 – Vol. 14
QUOTE OF THE WEEK… “Nothing happens unless first we dream.” –Carl Sandburg, American poet

INFO THAT HITS US WHERE WE LIVE … In the housing market we’re in the business of making people’s dreams come true. Lately, some are saying that fewer people may have those dreams realized and the housing recovery may stall. Why? Because mortgage rates have crept up a little. This is patently absurd. Average interest rates are now about where they were in 2014. Yet the housing recovery was fine then. Some say, yes, but home prices were lower. Well, so were wages. Plus, it looks like the newly elected administration may remove some of the constraints on lenders that have made it difficult for home buyers to qualify for mortgages.

Pundits may be pessimistic but not so the public. Fannie Mae’s chief economist said their latest study revealed “there is evidence of an increase in consumer optimism in the immediate aftermath of the election.”

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Santa Fe Las Campanas Homes For Sale-Housing Steady to Start 2016
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 Over the past week, mortgage rates have drifted up and down mostly based on year-end volatility due to light trading volume. The economic events have had little influence. Mortgage rates ended the past week slightly higher.

While existing home sales dropped sharply in November, partly due to new closing disclosure regulations, other recently released data on housing activity showed better results. NAR’s pending home sales index for November was nearly unchanged. This index measures contracts to buy previously owned homes which were signed during the month. Similarly, the Commerce Board’s new home sales report measures contracts signed to buy new homes, and it showed a 4% increase in activity in November. These two leading indicators bode well for early 2016 closing activity. Fannie Mae forecasts a 3.9% increase in total home sales in 2016.

The core PCE price index is the Fed’s preferred indicator of inflation. The most recent release showed that in November inflation remained well contained, at an annual rate of just 1.3%. Both low commodity prices and a stronger dollar have helped keep inflation low in 2015. However, the effect these have on inflation is transitory. Unless commodity prices continue to fall or the value of the dollar continues to rise, future readings will not reflect these benefits. Since mortgage rates are heavily influenced by expectations for future inflation, the success of the Fed’s efforts to keep inflation low will be closely watched by investors in 2016.

Looking ahead, mortgage markets will close early on Thursday and will be closed on Friday in observance of New Year’s. Next week, the important monthly Employment Report will be released on January 8. As usual, this data on the number of jobs, the unemployment rate and wage inflation will be the most highly anticipated economic data of the month. Before that, the ISM national manufacturing index and Construction Spending will be released on January 4. The ADP Employment Change, the ISM national services index and the Minutes from the December 16 Fed meeting will come out on January 6.
Robert Miera
 Senior Loan Officer
Castle & Cooke Mortgage, LLC
505-800-6033 Ext. 412
rmiera@castlecookemortgage.com

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Las Campanas Food and Beverage

“Old School” Week at the Las Campanas Clubhouse Mixed Grill

Las Campanas members-  Beginning February 19th through the 23rd we are changing

things up in the Mixed Grill with an “Old School” menu

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