A New Year 2010 in Santa Fe, New Mexico

By Anthony • January 17th, 2010

Hello from Santa Fe, New Mexico and welcome to 2010.

The Santa Fe Holidays propelled us into the future. We looked at our kids this past holiday, all taller than us with boisterous voices and bold ideas. Us parents realized we parents and kids are going to have to work smarter to stay in the investment game.

Certainly 2010 we hold dear to our hearts what we learned in 2009: Have a plan, stay diversified, invest in long term quality.

The Santa Fe real estate market held it’s own over the past two years. Now we see: decreasing inventory, moderate pricing, improving buyer confidence.

You smart buyers had better not wait past June 2010. The FEDS have pressures to finance enormous debt and will be prone to raise the discount rate. If discount rates rise around 1%, you the investor will then loose approximate 20% of your purchasing power. Thus will evaporate your opportunity to invest at a discount in Santa Fe real estate. I am also going to predict that once we see this trend begin, we are going to see a sea of buyers swoop in on Santa Fe real estate.

Forget us little guys, the notorious banks are ignoring shorts sales and moving past foreclosure to REOS / bank owned properties. Pay attention to mortgages which now create a “pure” deed of trust in New Mexico. The act allows for full power of sale by the trustee no sooner than 90 days from filing of notice of sale.

You smart real investors also keep in mind the real estate invest tax credits expire in March 2010.

Anthony Atwell, ABR, CRS, CDPE ePRO, Serving Santa Fe 19 years.