Considering moving to Santa Fe: Advice? (Albuquerque, Los Alamos: smog, hoa fees, vacation)

[Lovehound]

Originally Posted by Towanda

It is Santa Fe Pueblo style ... vigas in every room, Mexican tile throughout, two kiva fireplaces, two enclosed courtyards with covered brick portals, three bedrooms, each with a full bath, xeriscape landscaping and mountain views of the Sangres and the Jemez. It has 2100 square feet ... probably the one in the picture is much larger.

Gimme, gimme, gimme!!! Oh, wait a second. That's your house.

Actually 2100 feet sounds pretty good. I've got 1500 now and desiring a bit more room. (I'm having trouble locating Eldorado.)

I'm sure going to return for another visit to Santa Fe later this year or more likely next year, like when I'm a bit closer to retiring and the market is a bit closer to recovering.

[Xavious Orgus]

Lovehound,

Just curious, why have you decided on Santa Fe?

I have never been there, but have heard/read many great things about the place! Can't wait to make a visit this summer!!

[Lovehound]

Originally Posted by Xavious Orgus

Just curious, why have you decided on Santa Fe?

I have never been there, but have heard/read many great things about the place! Can't wait to make a visit this summer!!

I went over part of this in my OP, but don't mind adding to it. BTW I haven't decided yet, but SF is one of the nicest areas I'm considering.

I like desert areas, the desert Southwest, the four corners states (NM, CO, AZ, UT), camping, exploring, hiking, visiting national parks.

I'm looking for a city that is just the right size, and in a pretty environment. I sort of like Prescott AZ but it's a bit too small and the surrounding country is not all that pretty. The area around Santa Fe is prettier. I love the architecture (as described above). Santa Fe is big enough to have most big city conveniences, but no bigger than just that. Albuquerque is too big IMO and not that different than where I come from (L.A.) although of course not as big.

I'm interested in art as a hobby, looking at it and also doing my own. There's a fairly strong art influence in SF. Plenty of galleries, and plenty of pretty scenery and interesting culture to base my drawings upon. I like the Indian influence on the city and culture and art and lifestyle.

I'm interested in eating and cooking. SF has plenty of good restaurants and "to die for" New Mexican food (similar to Mexican). SF has a reasonablenumber and quality of supermarkets including big chains plus Trader Joe's Market and Whole Foods Market. Trader Joe's has a huge selection of wine and very affordable and competitive prices, famous for their "Two Buck Chuck" (Charles Shaw wine, $1.99/fifth), plenty of gourmet items at reasonable prices. Whole Foods has uber gourmet stuff but at premium prices. I still haven't found out if I can get sushi grade tuna and other seafood in Santa Fe, and will be disappointed if not because I like to make my own sushi. I'm sure SF has Japanese restaurants that serve sushi, although I haven't checked.

Lots of other places that seem attractive might have one supermarket. I couldn't live there because it would kill my cooking hobby not being able to buy a large variety of ingredients, little or no fresh meat and fish. Silver Springs NM is a good example. Pretty place, a few or half dozen markets, but nothing to compare to Santa Fe.

New Mexico seems like a more sane state than my own of California. We've got government run amok, and we've got up to our ears people, people, people and cars, cars, cars. New Mexico has wide open spaces and a much smaller population. Big cities are beginning to drive me crazy. I can't stand being this near this many people, I'm freaking out in the traffic, and I'd never have lived here if it weren't for my electronic engineering career and the need to be near big employers and lots of jobs (not that I'm working at the present).

So does that explain more about why I'm interested in Santa Fe? We can talk about this all day if you like. I like.

Regards,
Greg/Lovehound

[Devin Bent]

Originally Posted by Lovehound

This applies to Santa Fe but of course it applies to the entire country too. Crazy mortgage practices and speculation got us into this situation, and the situation will return to normal only when the prices have finished correcting, and people will once again expect the typical mortgage package of 20 percent down and 30 years term. Perhaps people will take my advice to demand fixed rate mortgages. That's the only kind of situation you can count on. I think it will take at least two years to restore a healthy market. That's some time in 2010 before we're back to business as usual and houses again appreciating in value.

From what data I have seen Santa Fe and all of New Mexico escaped the boom and most of the insane mortgages that characterized the boom. Thus the bust should be more moderate. Every data set I have seen support this.

One very specific piece of information. I get the mailings from RealtyTrac -- and they are about alarmist as anybody. But I am yet to see a single bank owned property in my Zip Code.

The impact of the bust on Santa Fe is more indirect. People can't sell elsewhere so they don't buy here. And Santa Fe Scribe suggests this hit mostly above 500 K.

[Devin Bent]

Originally Posted by Lovehound

Actually 2100 feet sounds pretty good. I've got 1500 now and desiring a bit more room. (I'm having trouble locating Eldorado.)
.

I didn't realized that you were talking 2100 square feet. Somehow I thought you talking about 4000 square feet.

Realize your dreams at your price -- might take a little time, but no problem at all. A great view and 10 minutes to Trader Joe's. (I am not a realtor -- you can't hold me to this.)

Eldorado is not -- as far I know -- incorporated, so it may not show on many maps. I'd check the realtor sites -- one of them will have a map that shows it.

[drwnorth]

Interesting and odd to hear you say the "hit" has been in higher end markets when in most markets in the West that is not the case. However, the REO stats are an excellent indicator. My first thought is the repercussion from the troubled markets which fuel the NM market just hasn't had a chance to sink in.

[Xavious Orgus]

Thanks for the insight Lovehound.

My "Lady friend" also loves cooking and the arts. With the name Lovehound, it is probably a good idea for me to keep her away from you! lol

I think I need to get my house sold, check out the Santa Fe area and if I like it, pick a few homes I would be interested in and make offers. I know this is not going to be my dream home, so I will go for the best deal, in the best location I can afford.

[Lovehound]

Originally Posted by Devin Bent

1. I didn't realized that you were talking 2100 square feet. Somehow I thought you talking about 4000 square feet.

2. A great view and 10 minutes to Trader Joe's. (I am not realtor -- you can't hold me to this.)

3. Eldorado is not -- as far I know -- incorporated, so it may not show on many maps. I'd check the realtor sites -- one of them will have a map that shows it.

1. As far as the square footage, I don't really know. I've got 1500 now, too small. Although I'm single I want nice big rooms and enough bedrooms that a few could go to other purposes: master bedroom, guest bedroom, office/library, hobby room, maybe a room for her hobbies if I get un-single. 2100 might be enough; I'd have to see it. I'm pretty sure 4000 would be way more than I need. A three car garage would be nice although I've got only one car now. Might be a good move to have room for her car if I get un-single.

2. No need to be that close to Joe's. I'd probably go only twice a month. It would be good to be within 10 minutes of a big chain supermarket though.

3. It would be good to know what the choices are in nearby areas to SF. My view I'm looking for just needs some scenery and maybe part of a city with a few lights at night. If I go painting the town, it's going to be with water colors or pastels, and not with dancing and drinking. I'll want to go downtown for dinner on occasion, and might even spend an hour or so seeking musical entertainment, but nearby SF might work for me as well as within SF, particularly if my home buying dollars get more house, particularly if the area is quiet and peaceful.

When you're younger you want noise and excitement. But I expect most people eventually reach a point where they've had their belly full of that, and sometimes it's really nice to just have quiet and peace and pretty skies and a nice home and enjoyable hobbies.

I didn't ask yet, but can anybody tell me if you can have a koi pond in SF? These are the Japanese fish that some folks have in a back yard concrete lined pond. They would die if the pond froze in winter. You could probably have a heater... Have you ever heard of koi ponds in SF?

EDIT: Just googled it, some bed 'n breakfasts have koi ponds, so I guess you can have them in SF. (Even at least one koi and koi supplies store. See? SF does have big city amenities!) I've always wanted my own koi pond because the fish swimming around make me feel so peaceful. It's like a fishy form of meditation. Anybody else like koi too?

[Devin Bent]

Originally Posted by drwnorth

Interesting and odd to hear you say the "hit" has been in higher end markets when in most markets in the West that is not the case. However, the REO stats are an excellent indicator. My first thought is the repercussion from the troubled markets which fuel the NM market just hasn't had a chance to sink in.

Ultimately I don't know much. But I think that the best data that reaches down to Santa Fe is from Office of Federal Housing Enterprise Oversight because it compares only same house sales.

As of the fourth quarter 2007 -- it shows all three of NM's largest metro areas still going up -- albeit at a reduced percentage rate. Booming Las Cruces is going up fastest even for same house sales.

First quarter 2008 will come out later this month. I suspect it will show some downturn in Santa Fe, but not the other two.

[santafescribe]

Originally Posted by Devin Bent

First quarter 2008 will come out later this month. I suspect it will show some downturn in Santa Fe, but not the other two.

Those numbers are out already:
http://santafescribe.typepad.com/realtorsantafe/files/2008-FirstQuarter.doc