"Zombie Foreclosures", (homes that are vacant and foreclosed on) has been a non-issue during Covid.  "But that could easily change over the coming months as lenders are now free to take back properties from delinquent homeowners", as the federal protections expire.  The housing market is "likely to face a downturn to varying degrees", resulting in foreclosures becoming more common.  Local lenders will either decide to "vigorously pursue foreclosures to recoup losses....while other give homeowners more time to get back on their feet".   RISMedia' Real Estate (October 2021)

The Biggest Mistakes Home Buyers and Sellers Make. 

By Beth DeCarbo.  WSJ (9/18/21)

Big investment with lots of emotion can lead to a bad combination. 

Buyers Beware:  Did you just fall in love with a house?  "Love is Blind".   

1.  Don't overlook the lousy view, ancient mechanical systems, yucky floor plan.

2.  Location!!!!:  Next to an airport? Highway? Factory?  Remember, you will need to sell some day.

3.  Videos and broker walk thru...never replace you physically experiencing the property.

4.  Don't waive the inspections.  "Never judge a book by it's cover": septic, foundation, roofs, wiring.

5.  Vacation/2nd home:  Don't let a second home become a second job.  

6.  Can you live with HOA regulations, restrictions, and assessments?

7.  Not using a Realtor?

Sellers Beware:  Are you too eager to sell?

1.  Don't be blind to your home's flaws.

2.  Make sure you have a plan for capital gains.  Having proof of major improvements helps with tax bills.

3.  House showings must always be tidy or staged.  Buyers only see the mess.

4.  Estate Sale?  Have a clear detailed estate plan, leaving enough money to allow for the cost of maintenance, taxes, closing costs.

5.  Don't "streamroll" your significant other....be honest and on the same page with each other.

1.  Listing inventory down drastically for residential listings.

For Single Family homes:  Sales up 6% over 2020.  Active listings down to only 89 units..  Absorption Rate is 3 months.

For Condos/Townhomes:  Unit sales have dropped -19% from 2020.  62 Units have sold with TSV and Town of Taos the primary sold locations. ONLY 20 active listings with Active Pending/Under Contract = 48 units waiting to close. Absorption rate is 10 days.

2.  Residential average sales prices still climbing:

For Single Family:  Average price up 40% to $531,960 over 2020.

For Condos/Townhomes: Average price up 6% to $326,159 with pending @ $477,573.

3.  Land is selling.

Average sold price is $105,059, UP 27% from 2020.  121 building site units sold with a unit increase +46%.

All Land (including

4.  Investment opportunities.

Much of the commercial transactions are done outside of MLS.  But, both commercial and multi-family properties appear to be quite active this year.

5.  When it comes to choosing your Realtor.

BHHS Taos Real Estate is commanding the market.

Joel Schantz and Company stand as a powerhouse in the BHHS New Mexico Properties awards standings, placing #5 in the state network.  

In the midst of the hustle and bustle of the Village Plaze, this furnished 1BD/1BA condo is the perfect place to experience Taos Ski Valley with its restaurants, events, and 'the' mountain.  Situated at Chair 1, be first on chair, last off the mountain. With upscale granite countertops, stone tile floors, travertine, gas log fireplace, satellite TV and WiFi, you have the comforts of home.  Inn at Snakedance amenities include on-site management, ski valet, concierge, restaurant, bar and convenience store.  Enjoy today's comforts in this year-round Alpine environment!  618sqft.  Well Priced @$309,000.  MLS 106646

Hopefully, you have had your favorite supplier of horse manure delivered.  Turn your pile to hasten the break down, then mix into your garden soil.  Don't forget the compost.  Tilling in the garden now can also get rid of those pesty bugs who have already settled in for the winter. 

I have dug all of the root crops finalizing with the potatoes and the onions being stored in a cool place. 

Oh, I have an abundance of Jerusalem Artichokes that I am digging.  Looking for a good recipe!