Considering moving to Santa Fe: Advice? (Rio Rancho, Los Alamos: property taxes, transplants, vacation)

[Lovehound]

First a bit about me. I'm an electronic engineer who has lived in Los Angeles my whole life. I'll retire in about 3-4 years and although LA is an okay place it's just too congested with too much traffic and too many urban problems, and without any need for employment there isn't any great justification for living here after I retire. I have one geographically related hobby, that I like to go camping and sight seeing and exploring and backroading, and the four corners states are my favorite places to do it. Living in one of those states would put me closer to where I like to vacation.

One other hobby is that I love to cook and I need to be near reasonable supermarkets where I can buy gourmet and fresh food to cook my feasts. I note that Santa Fe has Trader Joe's Market (the best, the very best!!!) and Whole Foods market (good too but expensive). I've been in a few Santa Fe chain supermarkets and okay not quite as good as Los Angeles but TJ's will fill in enough that I'll be good to go. (Right?) I'd never be happy living somewhere that is limited in food shopping. (Can you purchase sushi grade tuna and other seafoods retail? I make my own sushi.)

I currently own a very modest tract home in suburbia. I've always planned upon retirement that for once in my life I want a really nice home, nicer than I have now. By the time I sell my current house and add some savings I can probably scrape up $500,000 for a home in Santa Fe. I'd like 3-4 bedrooms and at least 2 car garage, preferably 3. Here's the big deal breaker: I've always wanted a place with a view, where I can look out across the city in the daytime and see the city lights at night. It doesn't have to be a 360 degree view, maybe only 90 degrees, but I want to be able to see a nice view as I sit in my main living area and relax or entertain. I suspect I may be being unrealistic. What do you think? Obtainable for $500,000?

A couple years ago I visited Santa Fe and discovered my dream home, just east of downtown (on the road to the campgrounds) up in the hills overlooking Santa Fe. It was only $1.2 million. (Gulp!!!) I hope there are more modest versions of this home that sell for significantly less.

One of the big draws of Santa Fe is that the food is the best! I hear it's New Mexican food, evidently the Santa Fe version of Mexican food, and it's to die for! I cook all kinds of food including Mexican (and I'll bet I can get good ingredients in town) but I know I'll have no problems finding good spots when I dine out.

Is the traffic a problem? I suspect that during the tourist season the traffic downtown can get pretty bad. However I don't expect to live near downtown. I wanna live in the hills. (Are fires a problem?)

Well my OP is long enough for now and I'll appreciate any advice you may offer, and also a reality check. The big question: Nice house with somewhat of a view for $500K? Realistic or deluding myself? And also, if not in Santa Fe, close enough by that S.F. markets and restaurants are within perhaps 20 minute drive?

[santafescribe]

Yes You Can!
Sounds like you're mentally moved in! And yes, the Coming of Trader Joes was something of an event here, and it's a great addition to Santa Fe. Somewhat like the way some people are looking forward to REI's arrival here at the Railyard in the Fall....

Anyway, the kind of home you are looking for is certainly within your reach. I guess you can add gourmet kitchen to "views, garages, square footage". You should look at Las Estrellas de Santa Fe north of town, and Eldorado south of town

Is traffic a problem? Can be, especially around Cerrillos Road & St Francis. Not LA traffic, but it's definitely a factor several times a day. Outside that, the traffic runs pretty well.

Are fires a problem? They haven't been, around Santa Fe (the Los Alamos fire a few years ago was scary for that area, of course). The watershed is carefully monitored for fire danger.

To your big question - no you're not deluding yourself. It can be done, with some research and planning. And, of course, a great realtor ;-}

[Devin Bent]

Originally Posted by santafescribe

Yes You Can!
. . . . .

Anyway, the kind of home you are looking for is certainly within your reach. I guess you can add gourmet kitchen to "views, garages, square footage". You should look at Las Estrellas de Santa Fe north of town, and Eldorado south of town

. . .
To your big question - no you're not deluding yourself. It can be done, with some research and planning. And, of course, a great realtor ;-}

He is asking for a view overlooking Santa Fe, see the lights at night -- I presume the city. I'd have to respectfully question this. In Eldorado, yes with a view of the mountains, but a view of the city? From Eldorado?

Las Estrellas -- a $500K home? A detached single family home? With a view of the city?

Of course, you are the realtor.

[santafescribe]

Originally Posted by Devin Bent

He is asking for a view overlooking Santa Fe, see the lights at night -- I presume the city. I'd have to respectfully question this. In Eldorado, yes with a view of the mountains, but a view of the city? From Eldorado?

Las Estrellas -- a $500K home? A detached single family home? With a view of the city?

Of course, you are the realtor.

You are of course right, and I appreciate your clarification. Eldorado doesn't have city views, it has mountain views. Las Estrellas can have city views, and there are other homes in the northside that certainly do. But I stand corrected. Everywhere doesn't have everything he wants, but several places have most of the things he wants!

[tortugo]

Good luck
Big expensive developments like Las Campanas have most of the "to die for views". There are still some nice homes in your price range but they are harder to find. The 80's saw a giant influx of CA an Tex transplants and they pretty well locked up the "bargains way back then. You need to find a quality realtor and be patient. It will take some looking but it can be done. I ran a heating and cooling company there for a bunch of years and I had to live in Albq. I couldn't afford the Santa Fe Style prices. Heck...a big chunk of the locals had to move into trailer parks out by the prison because of the inflated taxes caused by the big show homes popping up all over the place. (by the way, El Dorado is hot, dusty, and quite a ways from Santa Fe. but you can see the mountains. except in the spring when the wind causes dust screens)
Good luck
Tortugo

[Vinegaroon]

There is an article in today's Santa Fe New Mexican regarding the price of homes and living in Santa Fe. Many people that work in Santa Fe cannot afford to live there, and have chosen to buy homes in places like Rio Rancho. The current price of gas has been hurting those who have to commute, which is eating up the money saved in living out of Santa Fe.

Who knows, maybe the Roadrunner train will help a bit when it is finished for some of these people.

[Lovehound]

Thanks for the replies.

I'm still giving this some thought... I might be able to scare up as much as $650K for the home, but I think my biggest problem might be not being able to afford the property taxes. Guessing a 2 percent property tax, that's $13K per year, and I expect my income will be about $18K before taxes. Looks like most of my Social Security would go to property taxes and I'd be left living on savings (which are not bountiful). It's difficult to face ending a professional career (engineering) and going to a limited income and no hope for improvement. My goal is to find a pleasant place to run out the clock and that's what attracts me to Santa Fe.

It's difficult to describe the house I want. At present as I type this I can look out my window and see my neighbor's garage, trees in a few neighbors' yards, and through one little narrow gap I can see a mountain about 10 miles away. Not much scenery here. Nothing to look at except my back yard. What I want in my dream house is to be able to look out and see a little motion, cars driving around, maybe the patterns of clouds on the land as they drift by, twinkling lights at night. I'm suspect that I won't be able to afford my dreams, even at $650K.

[Vinegaroon]

You can find that for $650K in Santa Fe, especially now. If you are thinking about it, the market is very buyer friendly right now, which could change any month now.

You will especially be able to find a good house if you are willing to get into a fixer upper. I imagine right now you could find a house for $650K which would have cost you $750K-$800K as little as 2-3 years ago. The nice thing about Santa Fe is that the housing market will never hit bottom, because there are 3-4 easterners and Californians moving in every day.

If you are not dead set on Santa Fe however, you might look into Rio Rancho. The place is booming, and you will get much more house for the money.

[Devin Bent]

Originally Posted by Lovehound

Thanks for the replies.

I'm still giving this some thought... I might be able to scare up as much as $650K for the home, but I think my biggest problem might be not being able to afford the property taxes. Guessing a 2 percent property tax, that's $13K per year, and I expect my income will be about $18K before taxes. Looks like most of my Social Security would go to property taxes and I'd be left living on savings (which are not bountiful). It's difficult to face ending a professional career (engineering) and going to a limited income and no hope for improvement. My goal is to find a pleasant place to run out the clock and that's what attracts me to Santa Fe.

It's difficult to describe the house I want. At present as I type this I can look out my window and see my neighbor's garage, trees in a few neighbors' yards, and through one little narrow gap I can see a mountain about 10 miles away. Not much scenery here. Nothing to look at except my back yard. What I want in my dream house is to be able to look out and see a little motion, cars driving around, maybe the patterns of clouds on the land as they drift by, twinkling lights at night. I'm suspect that I won't be able to afford my dreams, even at $650K.

If you are in the county, your taxes on a 600K house would be more like 3-4 K -- nothing like 13 K. [Edited later -- I am probably a little high on the property tax -- see SS below who is a realtor.]

And you can get everything you want and more for $600 K or less if you are willing to settle for a great view -- but not looking over the city -- and maybe 20 minutes from Trader Joes's -- not ten minutes. I see a row of 12+K mountains from inside most of the rooms in my house looking directly out front (east) and if I turn my head to the left about 45 degrees (northeast) then I see two of NM's 13ers. Look to the south and see the plateau where the city sits. Look to the west at the face of 100 foot cliffs. The Milky Way spreads above at night and the moon shines like a spotlight -- first night I was here I walked all over looking for the light I had left on. It was the moon. Realistically, I would say it is about a 270 degree view.

It is on a dead end road -- little traffic and all five acre lots. I sure didn't spend 650K and prices are soft now in Santa Fe.

Oh, the stars are bright. On a moonless night, you let your eyes adjust and you can walk around outside by starlight.

And if that still doesn't let you realize your dream -- you can certainly do it somewhere in New Mexico.

[santafescribe]

Originally Posted by Lovehound

Thanks for the replies.

I'm still giving this some thought... I might be able to scare up as much as $650K for the home, but I think my biggest problem might be not being able to afford the property taxes. Guessing a 2 percent property tax, that's $13K per year

Well the good news is you're way off on property taxes! On a $650,000 home your taxes are somewhere around $3,500 a year.