Howdy to all our neighbors here in the Enchanted Circle and visitors to our beautiful part of Northern New Mexico. I appreciate you reading this column as I give you the Views from the Valley on all things real estate and related.
In this issue, we’ll talk about the overall health of the Angel Fire real estate market, how to navigate the financial indicators, the Grande at Angel Fire passing the halfway point sold and winterizing your home. So keep reading if these topics have piqued your interest!
Checking the market’s vitals
When you take into consideration all of the factors that determine the health of a real estate market — fluctuating prices, supply of inventory, time on market, list-to-sale, etc., Angel Fire is faring well. Against all odds, we’re still seeing strong numbers, especially for sellers. Due to the decreased inventory of listings, the market has become increasingly beneficial to sellers as there are more buyers than there are properties available. Even if the market is not in an ideal state, it’s doing better here in the Valley than most places.
Right as I sat down to pen this column, I received the report on closings during the first half of 2022 compared to the same time last year. We all knew that following up 2021 was going to be tough, and not surprisingly, the data backed that up. Units sold and total volume were lower this year across the region. Average price was up, for the most part, due to the strength of the seller’s market we’re experiencing.
At the same time, everyone who lives here knows the first half of 2022 was dominated by the wildfires to our south. This had a major impact on economic activity in the region, including real estate activity. Gaining control of this natural disaster required many months of extensive manpower. The communities of Northern New Mexico are still recovering from what has been a long and excruciating battle. Our community of Angel Fire has come together in a beautiful way, which makes us love where we live even more.
Overcoming the national indicators
We acknowledge that the national economic indicators paint a grim picture. The combination of record-high inflation coupled with rising interest rates is nobody’s ideal scenario. On the bright side, many experts predict that interest rates will decrease in the next year or two. One potential solution, for the time being, is an adjustable-rate mortgage (ARM), a home loan with a variable interest rate that can fluctuate periodically based on the performance of a specific benchmark. A wise financial move for homebuyers who plan to use the loan for a limited period of time, ARMs typically have caps that limit how much the interest rate and/or payments can rise per year or over the lifetime of the loan.
Even with the current state of the national real estate market, the Northern New Mexico market continues to drive significant sales and closings, and our team at RE/MAX Mountain Realty of Angel Fire continues to grow.
Angel Fire’s luxury condo complex passes halfway point
We’d be remiss not to update readers on The Grande at Angel Fire Condominiums. Angel Fire’s first and only luxury condominium complex recently surpassed the halfway point of units sold. The Grande is a timely option for those hoping to own property in the mountains sooner rather than later. While traditional houses aren’t as plentiful as we’d like, these luxury condos are available for purchase right away.
Winter is coming
With the fall season almost over, have you thought about how you’ll winterize your home this year? Here are some suggestions for how to protect your mountain property from the elements while still enjoying it:
- Check the gutters to prevent ice dams/pileups
- Keep driveways and walkways free of snow and ice, so as to avoid slipping
- Ensure that all detectors are working properly
- Get your furnace inspected & serviced if needed
- Run a stream of water through a few faucets to prevent frozen pipes
If your home will be empty during the winter months, here are steps you should take:
- Shut off the main water valve to avoid water damage
- Turn off and drain the water heater
- Blow out all of your pipes
- Pour antifreeze into vulnerable sources of water
- Caulk and maintain weather stripping
- Prevent your home from appearing vacant
For us, our clients become like an extension of our families. As experts in the region, we want to help you get the absolute most out of your home here. Whether you need more suggestions on how to prepare well for winter or hands-on help, we’ve got you covered so you’ll be ready before the snow starts falling.
RE/MAX Mountain Realty of Angel Fire
2022 Southwest Region RE/MAX Brokerage of the Year
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