We have just launched a FULL Service Flat Fee Listing. This program allows you to sell ANY Property at ANY price for just $3,000. This program will save anyone who is selling a property greater than $100,000 money. Learn more about this innovative listing program by visiting www.SellFor3000.com

Labels: Albuquerque, Discount Realty, Flat Fee Listing, Los Alamos, Marketing, Rio Rancho, Santa Fe

My company, Hardy & Co., has just launched a new service in Albuquerque called SantaFeFlatFeeMLS.com. The service allows those home owners who wish to sell their home on their own the ability to have the property posted in the MLS so that the property will show up on searches done by real estate agents and brokers. This added exposure can add a real boost to a seller's marketing efforts.

So how much can it save a seller of real estate? Well, the average sales price of a Santa Fe home was $402,057 over the first 6 months of 2009. The majority of sellers pay 6% of the sales price to agents involved in the transaction, or $24,123. Using SantaFeFlatFeeMLS.com, you would only pay $395 if you sell your home yourself, saving $23,728. If a buyer's broker brings you a buyer you will pay our fee plus that brokers commission (typically 3%), still saving $11,666.

Savings if you sell your Home Yourself:	$24,123
Savings if a Buyer's Broker Brings you a Buyer:	$11,666

If you are interested in learning more about the program, please visit SantaFeFlatFeeMLS.com at the site you will find all the details of the Santa Fe Flat Fee MLS program as well as an interactive ccalculator that will figure your own personal savings. The service can be purchased directly from the site, and you home can be up and running on the MLS in as little as one day!

If you decide you need some additional assistance at any time during the sales process, help is available. If you need help, you will still find that The Albuquerque Flat Fee MLS is still much less expensive than full service real estate brokerage. When you ask for help, you will get help with:

• negotiating offers
• handling contingencies
• seeing you through the closing process

For this professional assistance from a licensed real estate broker, you pay only $600 at the time you decide you need help and 1% of the sales price, at closing. Still much less than a full fare brokerage.

We also offer this service in Albuquerque through: ABQFlatFeeMLS.com

Labels: Flat Fee MLS, Marketing, Santa Fe

Just Listed!

Fantastic DeVargas Heights home for Lease ($2,300/ month). This centrally located home has three bedrooms, two baths, a living room, TV room, and breakfast area. The home is located on a Cul-de-Sac and has terrific outdoor spaces with world class views. Partly furnished (furniture could be removed if needed) Washer and Dryer included. Utilities (Water, Electric, and Sewer) are all included in the lease. Flexible lease times are available.

View the Virtual Flyer

Labels: New Listing, Property Management, Santa Fe

Today, Business Week Magazine named Rio Rancho as the number one city in the state to raise kids in 2009. Santa Fe was runner up on the list.

Steve Hardy

Labels: Press, Rio Rancho, Santa Fe

Online home-value sites offer some useful tools, but their estimates are often wrong.

"The percentage of error on these estimates is still very large," says Delores Conway, director of the Casden Forecast at the University of Southern California Lusk Center for Real Estate. If there are not many comparable sales in one area, for example, she says, "the estimates will have huge errors in them."

Zillow.com and Cyberhomes.com rely on computer-generated automated models to estimate values. The models help compensate for the fact that many neighborhoods don’t have enough sales to generate accurate values based on experience.

But these computer models don’t reflect home condition, improvements and may not even accurately convey property descriptions.

Marty Frame, general manager of Cyberhomes.com, says the data on the site is best used as a way to form an overall impression of a neighborhood.

"Our goal is to provide you all this information and let you cherry-pick the things that are most interesting to you," Frame says. "You're going to look at an estimate and say, "that makes sense' or 'that doesn't make any sense."'

From my observation, the error in valuations seems to be especially high in New Mexico and particularly Santa Fe. I attribute this to two factors. First, New Mexico is a non-disclosure state. This means that the sales price of a property does not become a matter of public record. Secondly, in Santa Fe, the idea of a tract home is very rare. Most homes in Santa Fe are custom or semi-custom making a generalized appraisal by a computer subject to a high degree of error. If you would like an estimate of the value of your home, please feel free to call me at 505-670-5604. I'd be happy to provide this information to you free of charge.

The Associated Press (06/23/2008), contributed to this post.

Labels: Finance, Market Stats, Santa Fe

On June 25, 2008, the Santa Fe City Council will vote on a proposal called the "Workforce Housing Initiative" that will levy a 1% tax when residential property over $650,000 is transferred. Proponents say that the new transfer tax will help fund the city's housing plan. However, there is no certainty that such a tax will remain at this threshold, at the tax rate proposed, or whether the first $650,000 of value will be exempted. It is also unclear if the money will be dedicated for any new housing initiatives.

The hearing scheduled for 7:00 p.m. on June 25th at City Hall in City Council Chambers will allow members of the public to voice their opposition to the new transfer tax. If you have an opinion about the transfer tax, please consider attending the meeting to hear more about the proposal and speak your mind. My opinion is that the proposed tax will not meet the housing needs of the city, is inequitable, will increase the cost of homes and will capture more homes over time as homes increase in value. In these uncertain economic times with gas and food prices rising, Santa Fe can't afford another tax.

Labels: Santa Fe

I've just sold a great home in the Nava Ade subdivision of Santa Fe. Many thanks to Larry Valadez of American Building Inspections and Andrea Garcia at 1st American Title for making this another smooth transaction.

Labels: Closed Transactions, Santa Fe

Analysts from the PMI Group, the company that provides private mortgage insurance, have issued its the Spring 2008 Risk Index. According to the findings, analysts are betting that prices in both Santa Fe and Albuquerque have a less than 1% chance of being lower two years from now.

At the same time, PMI says that 13 of the nation's top housing markets have more than a 60 percent likelihood of home price declines.

The cities with the biggest price risks are in California, Florida, Nevada and Arizona, and in most cases are already experiencing sharp home price declines.

"Excess supply is responsible for much of the risk we're seeing in the market," David W. Berson, PMI's chief economist and strategist, said in Thursday's report.

"The excess supply of housing in the United States is 9.2 months for existing homes (the 20-year average has been six) and 9.8 months for new homes (the 20-year average has been 5.5), which will continue to depress prices."

Additionally, the report stated that in the 4th Quarter of 2007 Home Values GREW by 4.07% in Santa Fe. This compares to an increase of 9.32% in Q4 2006, a difference of 4.34. In Albuquerque, home values grew by 4.66% in Q4 2007 compared to an increase of 14.45% in Q4 2006.

So, How risky is the Housing Market? The following information shows the markets with the most and least risk of a home price decline, based on price appreciation, economic growth and affordability according to PMI Group's spring risk index. An index of 100 means there is a 100 percent chance of home prices falling in the next two years. This list is represents the top 50 metro areas in the US. A full list with 381 markets can be found here:

http://www.pmi-us.com/media/pdf/products_services/eret/pmi_eretappndx_08v2.pdf

MOST RISKY
Riverside, Calif	93
Las Vegas	91
Orlando	85
Ft. Lauderdale	84
Phoenix	84
LEAST RISKY
Fort Worth	Less than 1
Pittsburgh	Less than 1
Dallas	Less than 1
Houston	Less than 1
Indianapolis	Less than 1
SOURCE: PMI Group

Labels: Albuquerque, Market Stats, Santa Fe

I spent part of the day showing one of my land listings. The listing is 25 acres just outside of Santa Fe. The property is garnering huge interest and I hope to have a contract shortly. Please take a moment to view this listing at www.LamyLand.com. Call or e-mail me if you would like to see this incredible piece of dirt!

Labels: Listings, Ranch Property, Santa Fe

I just closed on the sale of 687 Calle Espejo it only took 18 Open Houses to the Public, multiple Realtor Open Houses with door prizes and other incentives (home made breakfast burritos), a professionally designed custom website (www.CalleEspejo.com) with 5 virtual tours, $250-300 a month in keyword advertising and sponsorships, 40+ showings, and nearly weekly print advertising. In the end, what's required to sell a home in today's market hasn't changed. It still requires patience, persistence, and hard work...

Call me if your broker is not living up to your expectations!

Steve Hardy
505-670-5604
Steve@SteveHardy.com

Labels: Closed Transactions, Santa Fe