Is Now the Worst Time to Buy a home in Santa Fe, New Mexico? Santa Fe real estate update June 2022

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Is Now the Worst Time to Buy a home in Santa Fe, New Mexico? Is the market going to crash in Santa Fe? Are you wondering if Now is the WORST time to BUY a House in Santa Fe New Mexico?! Maybe you’re thinking of making the move to Santa Fe New Mexico in 2022 but you want to know if this is the RIGHT time or the WORST time to relocate to Santa Fe New Mexico or to buy a house in New Mexico? We're going to dive in and see what it looks like.
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00:00 Introduction
00:37 Is NOW the WORST time to buy a home in Santa Fe?
01:25 When is the Santa Fe real estate bubble going to burst?
02:49 The market crashed in 2008 because of loans being given to unqualified buyers.
05:09 We don't expect a huge wave of foreclosures.
07:23 Are homes in Santa Fe overpriced?
08:02 We expect home values to continue to appreciate, but at a slower rate than previous years.
09:36 How are high interest rates impacting the market in Santa Fe?
12:04 Is now the worst time to buy? We don't believe so.
Ready to start the conversation about moving or relocating to Santa Fe, New Mexico? Click the link below to schedule your private Zoom video call with a member of our team to learn more about The City Different.
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calendly.com/benji-tercero
📲 We specialize in helping people become locals of Santa Fe, New Mexico and we ABSOLUTELY love it! If you are moving or relocating here to Santa Fe, New Mexico, we can make that transition so much easier on you!!
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Tercero Agency with Keller Williams Santa Fe
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📲 Email: santafe@terceroagency.com
👨‍💻 Home Search: www.mrsantaferealestate.com
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About Santa Fe, New Mexico
👀 www.mrsantaferealestate.com
👀 www.santafe.org
👀 www.santafenm.gov
👀 en.wikipedia.org/wiki/Santa_F...
👀 travel.usnews.com/Santa_Fe_NM...

Опубликовано:

27 июл 2024

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Комментарии : 13

@ezpatari 2 года назад

You two are doing a great job explaining the Santa Fe market and how this housing cycle and interest rate environment differ from times past. Hope you continue posting more content. You can do short items! It takes a while to grow a following, but you are both young, and before you know it the Terceros will be the first and last word on residential real estate in your cherished city.

@Livinginsantafe 2 года назад

Thank you so much for the encouragement! We don’t plan on stopping. The videos take time to produce and it takes time to build a following, just like you said. But real estate is the business we’ve hung our hat on. Been at it for 12+ years already, no turning back. Thanks for watching and for your comments. Benjamin will be reaching out to you!

@carlossandoval3517 Год назад

Thanks for the info, with what you said were going to continue to hold on to our rental in Santa Fe. With a higher sell price down the road might as well continue to collect rents that well exceed our mortgage until then. Thanks again

@Livinginsantafe Год назад

I heard someone quote this recently, “the secret to staying poor is selling things that go up in value over time.” Couldn’t be more true! If you can manage your rental successfully without much of a headache, might as well keep it! Renter is paying off your mortgage, over time home will continue to increase in value. Even IF the market does crash, it’s always temporary. It’ll go back up. Only reason to sell is if it becomes a headache managing it or if you need to cash out and use the money towards another investment or some other life goal. Thanks for watching!

@RABPWarrior Год назад

What about crime and safety within the county

@Livinginsantafe 10 месяцев назад

One of the best places to research crime is online. There are websites like CrimeMapping.com that scrapes public records and shows you what’s going on. You can also call the police department and ask questions about crime in different areas. The answer is it depends on where your coming from and your definition of what’s acceptable or not. Lots of people are coming from big cities like San Francisco or Seattle where crime is completely out of control. Compared to that, Santa Fe looks pretty good. And on the flip side, if you’re coming from some small town where everybody knows your name and you still sleep with your doors unlocked… well, you’re going to want to lock your doors.

@helpingthe5059 2 года назад

It’s a crazy market right now we have 250k cash and looking for something decent but there absolutely nothing for that price

@Livinginsantafe 2 года назад

The market has been absolutely nuts. We’ve never seen anything like it. It’s tough to find anything for $250K. Maybe a townhouse or condo. But even those are pretty rare. $350-$400K seems to be a sweet spot, lots more inventory available around there. Thanks for watching!

@davidpfaff9879 2 года назад

OK so what's your income? A $250k down is great, but without qualifying income you will be hard pressed.

@helpingthe5059 2 года назад

I’m self employed and my last yrs income was 62000 but my credit is only 615 witch makes it hard for a loan from what the loan company says

@Livinginsantafe 2 года назад

@@davidpfaff9879 you’re absolutely right. It’s disappointing when we’re working with self employed folks who have a great business, have a good chunk of cash on hand but can’t prove their monthly income because the way they do their taxes. There’s ways around it, but it takes planning.

@Livinginsantafe 2 года назад

@@helpingthe5059 if you’d like us to connect you with a good local lender, let’s us know if we can introduce you. Most people don’t have the discipline to save $250K. You’re headed in the right direction. But if you need a loan to supplement the remaining balance of the home, you have to put the other pieces in place. Credit is important and tax returns for at least 2 years showing you have stable income. But honestly, you can negotiate with a lender when you have that much cash involved. You might have to pay a little higher interest rate, but I think they could help you put a loan together. Buying something for $250K cash straight out, there’s not much inventory to look at.