Buying a home can be an emotional experience, like sticker shock when first seeing Santa Fe prices. Santa Fe real estate is pricey. It is difficult (but not impossible) to purchase a quality home here for less than $500,000. The tradeoff is that the Santa Fe real estate market has been remarkably rewarding. During the current nationwide housing slump, sales of Santa Fe homes costing more than $500,000 have increased. Prices also have increased. During the period 1995 to second quarter 2007, the average price of a single family home increased 112 %, or an average of 8.6% per year (MLS data). A quality Santa Fe home is an excellent long-term investment.
Ann suggests that the first steps should be pre-qualifying for a loan (if one is needed), deciding on a price range and thinking about physical requirements, such as your preferred school district, a mountain view or a golf course lot. Ann can then review Multiple Listing Services and select a number of homes of which you may do virtual tours.
As helpful as virtual tours and pictures are, there is no substitute for a house-by-house search. Here Ann’s in depth knowledge of the market and the community is a great advantage. And Ann is patient. Some of her clients have taken three or four years to find the house of their dreams.
Making an offer and negotiating a contract takes strength and skill. Ann’s successful business career before becoming a broker and her 19 years of buying and selling houses have taught her how to close a deal. During her career, Ann has closed $100,000,000 in residential real estate sales.
She drafts the purchase agreement and advises on contingencies, such as title insurance binder, inspections, survey, government requirements and restrictive covenants. And, of course, she is there to represent you at closing with the title company.
Ann is there with you from the initial interview till the day you move into your Santa Fe dream house.
The real estate market in Santa Fe is unique in that, while there is a nation-wide housing slump, sales of high-end homes here are actually increasing. In the $500,000 to $1,000,000 price range, sales of residential properties in the period 2006 through the first half of 2007 increased 8.1% over the year 2005. In the $1,000,000 to $2,000,000 price range, the increase in sales during the same period was 25.5% (MLS data).
The first, and one of the most important steps in selling your home, is to determine the asking price. Set the price too high and the house will not sell, too low and you give up a part of your profit. Ann does a thorough analysis of the market (a Comparative Market Analysis), specific to the neighborhood, and will work with the seller to determine goals and develop a selling strategy.
Ann’s business experience has taught her that an aggressive marketing campaign pays good dividends. She will create a page on her web site with photographs, a fact sheet and a virtual tour, and will enter this page on the nation-wide National Association of Realtors web site.
As for print advertising, she will create a full color brochure, place ads in the daily Santa Fe New Mexican newspaper (circulation of 30,000) and in the monthly Real Estate Guide (circulation of 36,000).
Your property will be listed in the Santa Fe Association of Realtor’s Multiple Listing Service and Ann will stage a realtor’s open house so that realtors may preview the home. Her sign will be posted on your property (nationwide, 20% of sales are generated by “For Sale” signs).
Ann will show the property by appointment and will provide a lock box so that other qualified agents can also show the house. She will hold open house on special occasions, such as holidays and events that attract the public.
Ann is a strong negotiator and represents the seller during the offer and counter-offer dance. During her career she has done $100,000,000 in residential real estate sales. She follows through on due diligence involving inspections, survey and title reports, and helps to resolve any difficulties. She works closely with the title company and stays with her client throughout the whole transaction to a successful closing.