October 4, 2012
FALL IN TAOS
Life was just a bowl of cherries and apricots, plums, apples, pears, and even peaches this year in Taos. Summer was stunning, the crops abundant, the Farmer’s Market bustling, and even Taos real estate saw some of the abundance. The number of sales for the 3rd Quarter and year to date in the Taos MLS are up almost 30% and the average sales price for a single family home seems to be holding it’s own. The average sales price year to date for single family homes is $252,005 compared to $253,125 last year so I’m cautiously optimistic that there is light at the end of the tunnel. Prices on many properties have rolled back to mimic those of 2003 – 2004 but because of the historically low interest rates, payments are much lower today for the same property. Payments on a $200,000 mortgage in 2003 @ 6.25% would be $1,231. Today @ 3.5% it would be $898.
Nationwide, we’re seeing more sales yet there are still challenges in getting loans closed because of the amount of paperwork/documentation involved. The number of loans – especially for re-fi’s – in lender’s pipelines slow the process, BUT, it’s worth it to get an interest rate at 4% or lower, isn’t it? The combination of low prices and low, low interest rates make it the perfect time to buy. We’re even seeing multiple offers again. Sometimes he who snoozes loses.
NEWS: OLD MARTINA’S HALL is OPEN.
After fighting City Hall (County actually) Martina has opened her beautifully restored/remodeled
landmark “cantina” maintaining the classic pueblo exterior and creating stunning interiors.
Now open for breakfast & lunch. Reasonably priced. Check it out!
Taosis absolutely beautiful this time of year. Fall is in the air, so days are sunny, nights are crisp, and the colors awe inspiring. The
Fall Arts Festival is in full swing. The Wool Festival is this week-end, and the Taos Mountain Balloon Rally is right around the corner. Enjoy SOMOS Storytelling Festival Oct. 19 – 20 or for a delightful night out go see a beautiful flamenco show at TaDa Dance Academy Oct. 11. There are ongoing programs and shows at the Millicent Rogers Museum and The Harwood. There’s always lots to do inTaos.
For more information on ongoing or special events in Taos, click here: Taos.
If you’re inTaos, drive theEnchanted Circleand enjoy the colors or just drive up to theSkiValley, enjoy the display & have lunch or cocktails at Tim’s Stray Dog. If you’re not inTaosnow, plan a trip soon!