Posts Tagged ‘Taos condos’

Taos, NM – Old World Feel and Tourism Help Keep Property Values Above National Average

Saturday, June 18th, 2011

The economic recession that began in 2007 continues to affect the global economy today. One of the biggest industries hurt by the downturn and still struggling to find a bottom is the housing sector. There are, however, just a few exceptions and one of the most extraordinary of these is the Taos, NM real estate market. Prices in this delightfully distinct high desert town have held almost steady the past few years and are, in fact, currently still higher than the national average of comparative residences.

With an average of 280 days of sunny weather annually, along with low humidity and incredible scenery, National Geographic has named Taos as number 13 of the 133 best places to visit. It’s a sanctuary for retirees and tourists alike, as both permanent residences, as attested by the listings of Taos real estate for sale, and as vacation rentals.

Taos condos are especially desirable for ski holidays; Taos Ski Valley was branded the second best ski area in the country, according to Travel Guidepost. White-water rafting in the Taos Box region is a major draw for summer visitors, while the 15th Century Pueblo, Kit Carson Park, and the many museums and art galleries attract international tourists all year long.

By far one of the most interesting aspects of Taos, NM real estate is the great variety of design styles. Old adobe buildings like the Taos Pueblo have been continuously inhabited for six centuries, in contrast to the forward-looking Earth ships which were conceived locally and are proliferating in the area. Many of these interesting houses can be rented for short periods or found in the listings of Taos real estate for sale.

The majority of the “green” properties in this area are completely off the grid, producing their own electricity from solar and wind, their water from rain and snow melt and their heating and cooling from the earth itself. Residents grow their own food both inside the dwellings and on the grounds surrounding them, irrigating crops with recycled water through a series of filtering systems.

The eclectic character of the town and surrounding area attracts both the gregarious and those who prefer to be left alone. The breathtaking vistas and salubrious climatic conditions have been inspiring artists and writers since the original residents decorated their adobe pueblos with artwork depicting the surrounding mountains and native wildlife. Since that time, Taos has developed into a thriving artists’ colony, inspiring such well-known names as D.H. Lawrence and Georgia O’Keeffe to do some of their most outstanding work. The large number of galleries in and around Taos attests to its continuing appeal to those with a creative bent.

Distinctive in so many ways, it is no surprise that many visitors to Taos choose to remain and purchase permanent or vacation homes. Aside from the distinctive ambiance, prudent buyers know that Taos, NM real estate is a sound investment that will more than likely continue to hold its value well into the foreseeable future.

Reproduction permitted only when all active links are retained. 2011 All rights reserved.

Taos New Mexico Real Estate Shows Promise for Buyers

Tuesday, May 31st, 2011

Located on the base of the beautiful Sangre de Cristo mountain range in northern New Mexico, Taos is one of the most incredible locations in the southwestern United States. Well-known as a tucked-away artist enclave, there has not been as good a time as now to find yourself in the Taos New Mexico real estate market. Although the market there is still a bit stagnant, typical single-family home prices are still far above the national average. Moreover, it is a buyer’s market, so you will find deals to be had. It is important to also remember that this is a relatively small town, so there is never an abundance of homes available on the market at any given time. This will act to keep values reasonably stable, even in a stagnant market.

On the whole, most potential real-estate buyers are waiting in the wings. No one is really sure if the market has bottomed out or if it will continue to fall. Buyers in Taos appear to be asking for better deals or just biding their time. But for the month of October 2010 when compared with October 2009, both the number of sales and dollar figures were up 27 percent for single-family homes. Moreover, year-to-date home sales are up over 8 percent, while the dollar volume for all those sales has increased over 7 percent. Taos condos haven’t fared as well, though; they are still down 36 percent for this year. But compare the typical single-family home price of approximately $319,000 through the first three quarters of 2010 to the national average of $200,000, anyone can see that things aren’t so bad in this city.

All this points to the fact that the real estate market in Taos is improving, at least for single-family dwellings. Even though the town has experienced foreclosures, the speculative practice of flipping properties never really impacted this town, so it didn’t crash like it did in other places. As they do today, people were mostly in the market for a vacation home they wanted to keep.

Brand new construction of single-family homes and condos, meanwhile, is stalled. This is equally due to the fact that building costs haven’t dropped and that the prices for existing homes have flat lined or decreased over the past few years. Since a new construction might prove to be worth less than the expense of labor, land and materials, there’s little financial incentive to develop. A better option is undeveloped land; not only are there no maintenance costs and few taxes (if any), land is likely to go up in value, especially in Taos.

There are few pure investment property buyers who look in this desirable mountain region. Most buyers are retirees or those contemplating investing in a second home. They are a diverse lot, coming from nearby states like Texas and Arizona, both coasts, and even the Midwest. Because Taos largely doesn’t appeal to the jet-setters like Aspen or Vail do, few buyers are foreigners. By some estimates, up to 65 percent of homeowners either rent their purchase to vacationers or hire a rental agency to make it happen. This is a good way to get back some of the initial investment cost. Another investment option is to go into business. From quaint bed-and-breakfasts, restaurants, art galleries and other shops, there are lots of opportunities to become self-employed. It might put off retirement for a little bit longer, but it also brings one closer to the goal of settling down within this peaceful community famous for its great ski slopes, stunning natural surroundings and art.

It’s still hard to secure financing for real estate, especially for second-home buyers and those considering condominiums. Interest is down, and many are expecting prices to drop further. Taos real estate for sale may continue to fall slightly, but it’s not likely to drop drastically. This, along with rock-bottom interest rates, makes it a good time to get into the market. Plus, with common actual prices more than 11 percent lower than asking prices for October 2010, it’s a good time to find a deal.

Reproduction permitted only when all active hyperlinks are included. 2010 All rights reserved.

Taos Ski Valley Real Estate Available for Both Long- and Short-Term Living

Friday, April 15th, 2011

 

Taos, NM is a place with a feel all its own – a remarkable combination of cosmopolitan, artsy, and outdoorsy. Most days, while gazing from the window of your favorite downtown coffee shop, you can take in the marvelous Sangre de Cristo Mountains set against deep blue skies as you sip your coffee. These mountains provide more than just a picture-postcard type of background for the area; they are home to a variety of Taos Ski Valley real estate possibilities, offering vacationers and residents both the chance to reside where they play.

Leisure opportunities in the Sangre de Cristo Mountains and neighboring community range from backpacking and fishing during the summer months to the world-class Taos Ski Valley Resort, which features many of the region’s best skiing and winter sports during the colder times of the year. Each of these sparkling Southwest seasons attract people to the area from all around the globe, some of whom are simply visiting, and some who end up staying for good.

If you are among those individuals who have been pulled in by the natural beauty of the Sangre de Cristo Mountains, either temporarily or permanently, there is no time like the present when it comes to looking for Taos Ski Valley real estate. Because winter is the prime season in this location, and people typically find themselves mesmerized by the splendor, property sellers typically list homes during this time of year. With the current bad housing economy, the competition for buyers is fierce, so as a possible purchaser, you may very well be in a good position to wheel and deal – and end up with a fantastic bargain.

Although the median income in Taos is quite a bit higher than the majority of the country, which has produced greater property costs in the past, some thorough research will reveal that there is housing in this vacation area that is remarkably reasonable. Taos and surrounding communities have not escaped the real estate collapse, or the resulting home foreclosures that allow for great bargains. Unlike years past, you can actually discover Taos condos and houses here from as low as $100,000 for a smaller but charming one-bedroom condominium, to properties at $1 million and higher. Options for these properties, obviously, run the gamut as well, but be assured that those offered in homes at the higher end of the spectrum rival what you would get in resort homes anywhere in the world.

One need not be a major investor to purchase a “ski-out” condo and use it as an investment property when not making use of it themselves. Frequently, people defray the expenses of purchasing a vacation home by having it rented when not being used. If you love to ski and have been searching for either a permanent home or a vacation getaway in the mountains, Taos is an ideal place to look, and the time to look is now.

Reproduction permitted only when all active hyperlinks are included. 2010 All rights reserved.