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Summertime 2022

Summer time in Taos.  Whether you own a home or looking to buy or sell one, here are the latest news clips from Joel and his Team when you’re ready to take the next step.

Berkshire Hathaway HomeServices Taos Real Estate
Joel K. Schantz
Owner/Broker, CRB
(575) 758-1924 x 217
jschantz@newmex.com
www.SchantzCo.com

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Got the summertime blues?

Success Strategies for 2022 Homebuyers

If you’re a homebuyer without a home to buy, certain factors should change with time, which should provide you with a better chance to buy a home in mid-to-late 2022.

One factor that helped fuel the current housing market boom was record low interest rates. Compare current 5.20% rates, Mortgage Bankers Association with the record low recorded by Freddie Mac in December 2020 of 2.68% for the same FRM loan.  As a borrower you could ask your lender about a hybrid mortgage that gives you a lower adjustable rate for a fixed period of five years before the rate adjusts to a fixed rate. 

Since the Great Recession, there’s been a serious shortage of new homes being built. The National Association of REALTORS says the U.S. needs to add 550,000 more homes to its 1.5 million annual average for the next ten years to make up the shortfall that’s now calculated to be about 6.8 million homes. Builders need more labor, more land and an end to supply chain shortages to meet this goal.

What can you do? Buy an older home that needs work. You’ll have the option of improving it or tearing it down and rebuilding when the market improves.  Or buy land and build that Dream Home. 

Click Here  "What it Takes to Buy Your First Home Now", June 27, 2022; Wall Street Journal.

Click Here for above photo information: Ranchos de Taos, 2.0 acres @ $170,000. MLS 108931

What? recession?  

Recession or Not.  It's all in the way you approach it.

Things could not remain the same.  They never do.  We as humans adjust constantly.  Real Estate hits the pocketbook when it starts to change trends many times. One projection of a recession is mid 2023. Many say we are in one now as real estate sales pace has slowed with increased mortgage rates and inflation causing basics like gas, to sky rocket.  

*  Buyers buy no matter what.  They qualify differently.

*  Our increasing population proves that real estate is a good investment.

*  A controlled market is returning as inventory increases and buyers are still interested

*  Zillow will not be able to say if the house will get 3 offers....only the local Realtor knows

Click Here for the above listing on DeVargas Lane in Town: $499,000 MLS 10899

Featured Listing: Alpine Haven

In the Pines of Taos Canyon

"Tween Taos and Angel Fire, this mountain retreat is tucked away with seasonal streams, meadows, tall pines and aspens on 69.9 acres!  

The private 3,024sqft home features 4BD/2.5BA plus a detached 3-car garage.  With vaulted ceilings and floor to ceiling windows, the LR invites the outdoors in with access to  the large deck.  A wood burning stove fireplace insert, abundant natural light and solar gains, provide warmth and comfort year round. The layout allows for options in room usages such as, studios, offices, a formal DR.  MBR with BA has a wood burning fireplace and access to deck.  Upper level is for family and guests with 3BD and full BA.  Inclusive are high speed internet, fenced area for doggies or garden and room to build a compound.  Bring your horses, donkeys or llamas or just hike, bike and xc ski, snowshoe.  Rio Fernando runs through the west and borders USFS.  Easy access to skiing & golfing & amenities.  $2,100,000  MLS 109051   

Click Here for featured listing detailed information

Charts for the 1st half of year

Price Range for Single Family Units Sold:  Comparing 1st half of 2022, 2021, 2022

Slow down? ...can't tell by these numbers.  The hitch is that our title companies are 6 months behind in closings.  The majority of these numbers were put under contract in 2021.

* Under $100,000 there is no activity.

*Less activity in ranges $101,000 up to $500,000

* Dramatic increase in the ranges of $501,000 - $600,000, $701,000 - $800,000, $1,000,001 - $1.5.

* New activity above $1.5 million to $3M

Key:  $100,000 ranges up to $2.5 million in $100,000 increments.  Blue is 2020, Red is 2021, Green is 2022.

Click Here for Market Report on website

Green Thumb Wisdom from Joel

Enjoy the peas.....pull those weeds!

Yes, it is July in Taos and we are eating peas.  It will be delicious edible pods for tonight's dinner, along with the lettuce.  But with the joys of produce, comes the toilsome chore of pulling weeds. After all, they both love the sun and water.  Joel is always upset with my insistence of dill in the garden...Ha, they call it Dill Weed.

As the summer gets hot, mulching will keep the weeds down and will keep the ground cooler.  Joel uses hay (some hay comes with next year's weeds in it unfortunately).

The garden is in full swing.  With some swiss chard already in the freezer, the  beets are getting bigger, beans and zucchini are getting close to harvesting, corn and potatoes and tomatoes and peppers later on.....  Yum!  

Best of Taos: #1 Realtor 

Joel wins "Top Dog" Realtor 

"After forty years in the business, the only thing better than being voted the best Broker, is the business itself.  I like selling the joys, hopes, and dreams of home ownership, as I work with trusted colleagues and my wonderful Team. Thank you for such the honor,"  Joel Schantz

Kristine Wood:  Associate Broker

Joel Schantz:  Owner/Qualifying Broker

Marny Schantz: Owner/Manager

Yvonne Lewis:  Associate Broker

NM Lic #: 8233
314A Paseo Del Pueblo Norte Taos, NM 87571

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