Please go to my new site

October 2, 2014

If you are on my blog alanball2.wordpress.com I want to invite you to move to my new blog

at http://santaferealestateconsultant.com and get the latest statistics and market analysis for Santa Fe residential real estate.

This site is no longer being updated. Thanks for visiting and I hope to see you

on my new blog.

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Feelin’ groovy

April 16, 2014

Trying to bring back “groovy” while using real estate methodology is not an easy task. Bear with me as I explain. Or just skip to the statistical data included on this site, if you prefer. Read the rest of this entry »

Ready, Set, Go

March 30, 2014

Nobody in real estate makes a living making predictions. They might speculate about some trends and then be right or wrong, but there is no paycheck for that. The reward of being right is not wealth or even comfort. Read the rest of this entry »

Good trendlines

March 18, 2014

Quick study of the most recent statistics for Santa Fe residential real estate shows improvement in many segments. Read the rest of this entry »

What does your market look like?

March 5, 2014

So many experts, so little consensus…  If one agrees the phrase “All Real Estate is Local” is mostly true, then comparing
our market to other markets might reveal some disparities. Some think Santa Fe real estate’s recovery  is lagging the rest of the country. What do you think?
Nationally, many areas have a shortage of inventory of homes, which feeds the concept of a seller’s market. In some cities, prices are rising again (like the good old days we may not want to return to?) and buyers are having to scramble to secure the home they want. A balanced market would be good, if only it were that easy.

What is happening here? There still seems a disconnect between seller’s ideas of value and ultimate sales prices agreed to. Plenty of examples exist of starting prices around 10% above final sales prices. What is concerning is the length of time those sellers take to realize they are not participating in the market conversation about their home. Then they lower the price and there is a flurry of buyer interest.

The delay between listing a home and selling it creates (at least) two statistics, one of which I feature in this blog. The Santa Fe Association of Realtors has a huge database with thousands of records of listings, sales, expired listings and so on. For our market area, there are some 90,000 different records. The focus of this blog is Absorption Rate, while our MLS database features Average Days on Market.

The differences are clear. For the 12 month period ending January 31, 2014, there were 1757 sales of homes in Santa Fe city and county. The MLS database will tell you the average days on market for all of those was 169 days. Yet an absorption rate analysis tells us that it is taking 9.68 months for all of those listings to sell. In days speak, that is about 290. And both are correct.

Ask your real estate professional to illuminate what this means for you. For more about this or any other residential real estate information for Santa Fe, NM please contact Alan Ball at 505-470-7153 or by email at alanball2@gmail.com

 

News:  site/blog redesign and upgrade is underway. Keep an eye out for the announcements and roll out…soon

A living treasure

February 27, 2014

One of the best things to happen in Santa Fe in the last 20 years is the building of the Dale Ball Trails. You have an opportunity to thank Dale and his wife Sylvia at the next Dale Ball Day, March 7th. As his very proud son, I am very thankful that he is still able to participate in events such as this. If you attend, Dale and Sylvia Ball will be delighted to see you.

Here is a link to the event information: http://sfct.org/trails/dale-ball-day

Cupid or stupid?

February 14, 2014

The obvious answer to the question is Cupid. Nobody chooses stupid. Or do they? On this romantic holiday, the Read the rest of this entry »

How do you rate? and some News

February 3, 2014

Interest rates are published at least daily on many websites. Mortgage interest rates are a major factor – likely the most important variable – in a home buyer’s choice of loan programs and lending sources. Read the rest of this entry »

Seven percent is OK

January 11, 2014

“Increase in annual unit sales for Santa Fe residential real estate” – said the headline. How much of an increase? For unit sales, it was seven percent. This is considered a good number for most. Read the rest of this entry »

Auld Lang Syne

December 29, 2013

We know the tune and some of the words to this song. The title of the Scottish tune translates to “times gone by” and is about remembering friends from the past and not letting them be forgotten. Read the rest of this entry »

Shoulder to the wheel

December 21, 2013

When we started this recovery, things looked very bleak and the mountain seemed insurmountable. But we are most of the way to the top Read the rest of this entry »

Can you see the light?

December 6, 2013

CAN is not proper grammar when asking if someone is able to or willing to do something, or see something, or Read the rest of this entry »