Santa Fe Foreclosures surge – Santa Fe New Mexican

Santa Fe Public Library
Image via Wikipedia

Good story in the Santa Fe New Mexican about the continued growth in real estate foreclosures.  I was quoted in this article and in a radio story on KSFR, my opinion being it’s not over yet, and we have more foreclosures to come in Santa Fe County before we start seeing daylight.

Frank O’Mahony, who opened up his Evolve Real Estate Santa Fe last year — the worst in at least a decade for home sales here — has done an analysis of the market on his website. He sees inventory rising whenever sales percolate.

“There is a huge overhang of people holding back, waiting to put their homes on the market,” he said.

Las Campanas – worth a new look

People have a vision of Las Campanas, the community in the northwest of Santa Fe, as a place for elegant, multi-million dollar homes. And it is – but a receLc_lakesnt trip there showed how much more it is, and I for one will be showing it to a much broader client base this year. The amenities at Las Campanas are stunning – two 18 hole golf courses, an equestrian center, a very impressive clubhouse, fitness center, swimming pool, hiking trails….

- Land: I have a lovely 1.6 acre lot for $199,000706689ct, (sold!) and there are other great building lots from around 1.5 acres up to 10 acre, horse-friendly lots. All these lots are well positioned, with pre-defined building envelopes and a tried-and-tested group of builders who understand the requirements of Las Campanas and the best way to take advantage of the fabulous views.

- Homes: What I saw this week was a new Las Campanas price point, from around $650,000. Well-designed, highly finished homes with great golf course, lake and mountain views.

Img001One of the builders, Infill Solutions, has several floor plans available, some with small guest house and great view lots.
Infill’s 2200 sq ft home, including guest house, is around $720,000.

Next door another builder offers a first for Las Campanas, 2 story homes. There’s a variety of finishes and floor plans, and the two story units have a unique mini-elevator! So those who are thinking of a retirement place, but ruling out a second story because of the ol’ knees can think again! 2500 sq ft homes with 2 stories are priced at around $775,000.

Now, we can consider Las Campanas from $199,000, through $700,000 to $1.5 million (like this charming property) and up. I look forward to introducing many of you to Las Campanas in 2008!

Rightsidefrank_2