What is the buyer of your home  dreaming about in their next home?  They are a growing cadre of homebuyers who value lifestyle over luxury and quality over quantity... wanting more comfort and convenience in their daily life.

Lifestyle is about having the time, space, and equipment to do the things you want to do.  The home should facilitate more time for family and friends, hobbies and interests, and healthy exercise.

Seller or buyer, look carefully at how space is allocated for each room. Is the kitchen arranged comfortably for family meal preparation? Is there space for home office (s)? Can you also have an exercise room, a play room, an art studio, or a media room? Lifestyle may also prioritize sustainability through solar-power and xeriscaped lawns.

Dreams can come true.

Click Here: Above photo:  MLS 109369 @ $1,100,000 in Arroyo Seco:  Between TSV and Taos with3BD/3BA/3AC.  RV hookup, mini golf green, greenhouse and workshop.

With today’s runaway inflation and rising interest rates, it may seem like a good idea to put your remodeling plans on hold. Or, maybe not.

According to the Leading Indicator of Remodeling Activity (LIRA)  remodeling expenditures are expected to cool down from 17.4 percent in 2022 to 10.1 percent by Q2-2023, citing steep slowdowns in homebuilding, retail sales of building materials, and renovation permits. 

As existing and new home sales decelerate, so will the need for contractors and materials. BusinessInsider.com reports that lumber prices are already down to $604.50 per thousand board feet in July 2022, falling 47% year-to-date, and 65% off from the 2021 high of $1,733 per thousand board feet. Inventories are starting to pile up at both sawmills and home improvement stores, making contractors more affordable and available. As the cost to build declines, inflationary pressures on the housing market should subside.

But as long as overall inflation is still a problem, the Federal Reserve will keep raising overnight borrowing rates to banks, increasing the likelihood of a recession. Economists polled by Bloomberg.com say that over the next 12 months, a mild, brief recession is 47.5% likely.

If you decide to remodel, it’s wise to stay in your home for at least five years to comfortably weather any housing market volatility.

 

Click Here  Above photo:  MLS 109338 @ $399,000 in Penasco:  2BD/1BA old adobe home with mountain backdrop, fields and fruit trees.  Private.

As the last quarter of 2022 proceeds, we are seeing the market slow a bit.  Still busy, just not the feeding frenzy we were experiencing earlier this year and 2021.

Single Family Stats:  Average Sales Price DOWN to $593,245 from $601,776 on 6/30/22. Units Sales remain STEADY.  Active Listing inventory UP to 175 from 89 on 10/15/21.  Pending Contracts DOWN.  Absorption Rate is UP from 3 months on 11/1/21 to 6 months currently.

Price Activity:  Under $200,000, very little.  The bulk of the market is between $300,000 - $600,000 with 51% of the sales.  Up to $900,000, a 33% drop.  Above $1M:  Absorption rate is now 12 months, UP from 8 months just 3 months ago. (listings increased, listings sold decreased).

Condos:  UP to $408,510 and still climbing with 2 $1M+ pending in TSV.

Land <5 acres (building sites):  Average Sales Price iYTD is $111,531.  The 2022Q3 recorded the highest individual quarter ever = $134,089.  Units sales UP, already surpassing 2021 totals.

Commercial:  13 units have sold YTD from boutiques to historic adobe lodges.  Pricing ranges from $80,000 to $2,900,000.  Call for more details.

The included photo sold in  January/2022 for $445,000 over the listed price.  

This home is in the Valverde Commons over 55+ Cohousing Community. It is in the heart of Taos with 28 private homesites.

Magee Design and build combines sustainable principles, artistic design and modern comfort in this modern adobe 2298 sqft. home.    Views of Taos Mountain from the great room, kitchen and portals are captured.  ADA compliant. Park and common spaces are yours to enjoy. 

Delightfully Taos  with Taos Plaza walking distance.

Click Here:  Above Photo MLS MLS 109544 @ $1,100,000 in Town:  3BD/2BA

Click Here:  For information on Valverde Commons

Too much fun and for such an incredible cause!  The Girl Scouts of New Mexico Trails fund raiser was a great success with a full line of sponsors and players for the 2nd Annual Birdie Bash.  We played at Sandia Resort in Albuquerque. Joel and Marny Schantz,along with long-time friends/clients, Ron and Carol Polichnowski made a decent showing.  Our shot of the day was Joel winning "closest to the hole", having smacked one of the more creative hits of the day.  We all tried for the "hole in one", pursing $50,000. with no success. But... someone really holed it!  

Look for this event next September. It is a 4-man scramble (the only way I could have done such a thing), 36 teams.  Be a sponsor and play, or just play.  Everyone had smiles on their faces and Girl Scout Cookies.

Click here for more Girl Scout information

The bounty has overflowed the kitchen counter for months. The freezer is stuffed.  Joel loves that he is able to share his green thumb.  Ha, friends have more zucchini and Swiss chard, and they too, need to be creative as to what to do with so much.  Taos had perfect hot weather in the beginning and delightful rains for growth. Now the squashes: pumpkins, calabas and acorn squash are crawling all over the garden.  Oh, and look at the asparagus ferns 4' high making the crop for next year.  Tomatoes?  Yep.  Joel has enjoyed growing the Black Crimmon variety.  

What's next?  Till, fertilize and put it to bed.