U.S. News and world Report (Oct. 17, 2011) named Santa Fe as the:

Best place for recreation and culture: Santa Fe, N.M.

Santa Fe art, architecture and cutural events make it among the Top 10 "Best Places To Retire"

At more than 400 years old, Santa Fe is the country’s oldest state capital. The city is known for its unique culture and art galleries, including the New Mexico Museum of Art and Institute of American Indian Arts.

“Santa Fe has a character that is unlike other cities,” says Karen Ralston, 67, a retired director of marketing for a publisher. She moved to Santa Fe in 2006. “The cultural mix that we get here—the Anglo culture and the Indian culture and the Hispanic culture—blends very beautifully here. We really love that mix,” she says. An art history minor in college, Ralston rediscovered that interest by volunteering at the Georgia O’Keeffe Museum and the Center for Contemporary Arts.

The creations of artists worldwide are also celebrated at a variety of annual festivals and markets, such as the Native Treasures Indian Arts Festival and the Santa Fe International Folk Art Market.

GreenRoads Realty is Santa Fe’s only Buyer’s Agency. Call (505) 995-0195 to start your home buying search and work with professionals who represent only you!

Experience Santa Fe's beautiful Spring and Summer! photo by Aysha Griffin

Santa Fe offers a huge range of arts and cultural events throughout the year, but especially in summer.

For a list and description of Santa Fe events for Spring/Summer 2011, please click here.
(or copy and paste this link: http://greenlivingnewmexico.com/2011/03/30/santa-fe-spring-and-summer-events/)

compiled by the Santa Fe Visitor and Convention Bureau.

By Aysha Griffin

Being a real estate agency owner and broker for the past decade, I often forget that home buyers and sellers– who may do a few deals in a lifetime – are likely uninformed or misinformed about the basics of real estate transactions. It is my hope to simplify and explain this.

Agent or Broker? Definition: In New Mexico, an “agent” and a ”broker” are synonymous and interchangeable. This person hangs his/her real estate license in an office (small or large) under the auspices of a “Qualifying Broker,” who is the individual responsible for supervising all agent/brokers whose licenses are registered under his with the state regulatory department, e.g. the New Mexico Real Estate Commission. Each agent is an Independent Contractor who has signed an Agreement with that agency and can leave, or be “let go,” at any time and move his license to another agency.

The terms “agency” and “brokerage” are also interchangeable. For the purposes of this article, I’ll use the term “agent” and “agency.

How It Works For Sellers:

1. Find an agent: A homeowner wants to sell his property with professional assistance. If he knows an agent, (from past dealings, recommendation or online research), he contacts the agent directly. If not, he may call a local real estate agency that will assign an agent to meet with the seller and “take the listing.”

2. Contract with the Listing Agency: Whoever takes the listing is the “listing agent,” but all listings are owned by the agency with which the agent is an Independent Contractor. The Listing Agreement grants permission for the agency, and the agent, to market and sell the house. This is usually an “exclusive listing” giving that agency the sole right to a market, sell and receive a commission, payable upon closing, based on the sale price, no matter what price the seller accepts. The listing agent, as an Independent Contractor, has an agreement with his agency as to the split he receives from the agency, typically 50-85% of the agency’s commission.

Set List Price and Commission: Together, agent and seller set a listing price and the commission to be paid to the listing agency and shared with the buyer’s agency. They confidentially discuss the seller’s situation and marketing strategies. The listing agent (under the contractual agreement between the seller and the agency) is now the exclusive representative of the seller and obliged to act in his/her best interest. Keep in mind that most sellers believe their property to be worth more than it is in today’s market, where low price is what sells a home. What a seller has paid or invested in the house is of no concern to a buyer.

Commissions are negotiable by law. However, customary commissions prevail, and it is important for a seller to consider that his agent – and the buyer’s agent – are less inclined to promote a property when offered less commission than “the going rate.” Given an option of the same amount of work, would you choose to work for less?

Time Frame: The Listing Agreement gives the right (usually “exclusive”) to the agent and his agency to market and sell the property for a specific length of time. Every legally-binding contract must have a start and end date, and a “consideration,” or form of payment. Should the property not sell within that time, the listing expires and the seller is free to do whatever he wants: renew with the same or different agent and agency, take it off the market, try to sell it himself, etc. Given that “absorption rates,” have become much longer – average time on the market for an average property in a certain area and price point to sell – it is logical for an agent to request a longer time frame to see his efforts result in a sale. Most listings are for a minimum of a year.

Terminating a Listing Agreement: Most Listing Agreements have a clause that prohibits the seller from listing with another agency for a specified period of time. This is understandable, as the agent and agency often invest considerable time and effort into marketing the property and, specially now, with longer time frames due to fewer buyers and increased inventory, it’s only fair to allow the agent/agency sufficient time to attempt to sell. Since they are only paid upon sale, they are presumably motivated to sell your home and doing their best. That may or may not be “good enough” for the seller.

3. Does The Agency Matter? Rarely. The seller will be dealing with one agent (or team). The quality and effectiveness of that agent has little to do with their agency, and everything to do with their experience, professionalism, communication skills, local market knowledge and implemented marketing plan.

Misconceptions: The public often thinks that going with a “big agency” gives them an advantage, and the big agency would like you to think that. While in the “old days,” when listings were held by separate offices (as they still are in much of the world), buyers depended on the collective listings of each separate agency. That all changed with the internet, which leveled the field among all agencies.

Another misconception is that agents are partial to selling properties listed within their agency and therefore, the more agents, the more likely an in-house sale. While there is usually a small bonus offered for selling in-house, agents representing a buyer will show everything and anything on the market that may meet their client’s criteria – without consideration of the listing agency. It’s about making a sale, not loyalty to the other agents in his office who are, in fact, his competitors.

4. The Truth About Your Listing: Every listing, by every agent-member of their local Realtor’s Association, is posted on the internet-based Multiple List Service (MLS) for all other local Realtors to see in full detail. Then, an abbreviated listing also posts automatically to The National Association of Realtors’ (NAR) site (www.realtor.com) and dozens of other well-known sites, like Zillow, Trulia, Yahoo, Google, Bing, etc.

The NAR estimates that more than 90% of all buyers nationwide begin their home search online, which means that the only really important place for your listing is in your local MLS. Any agent can put it there for you!

Some agencies, like Go Realty, even offer to post your listing in the MLS for a flat-fee, without providing other standard services, in case you are comfortable selling it your self and want to save the listing commission; you will still need to offer a commission to an agent who brings you a buyer.

5. So, Why Do You Need A Listing Agent? Technically, you don’t. But a “good agent” will provide you a host of valuable services, such as: help you price your home competitively to sell; provide advice to prioritize any improvements to increase value or appeal; help with staging so the home shows more favorably; additionally, he will post a complete MLS listing with excellent copy, maximum number of photos, attachment of pertinent documents, and a video to feed into other marketing channels like YouTube and their blog, tweets, newsletter, extensive client/lead email list.

A “good agent” will also have a great reputation for integrity and professionalism and relationships with other Realtors and vendors who like doing business with him/her. Then there’s showings, and being accessible to other agents, plus communicating with you, the seller, providing feedback.

While you may believe differently, open houses have become obsolete in their effectiveness, again thanks to the internet, and are used by your agent primarily to garner potential buyer clients who may wander through without their own agent. If your agent agrees to do open houses, it is only to appease you and look like he’s doing something. But, in fact, open houses are a waste of time. The single-most effective method for promoting a house is a great MLS listing along with other online marketing exposure.

Finally, after an offer is made, your agent will negotiate on your behalf and handle the myriad of transaction details (contracts, inspections, title, etc.) and stay in close communication with the buyer’s agent, to get you to closing.
Do not underestimate the value of a “good agent” as your trusted advisor and counselor throughout the whole process, committed to your goals and working hard to find and secure a qualified and ready buyer for your property.

How It Works For Buyers:

1. Find an agent: Since Buyer’s Agents are paid at closing by the Seller (almost always), it costs you nothing extra to have your own Representative, it’s crazy not to avail your self of the knowledge and services of a local professional. It’s also crazy to allow the seller’s agent to be a “dual agent” because then neither you, nor the seller, have representation. Get your own agent – preferably one who specializes in working with buyers!

2. Should You Sign A Buyer-Broker Agreement? How hard and long would you work for someone who didn’t agree to pay you for your time, effort and expertise? Not all agents are created equal, and it’s important you connect with one who is a “good fit” for you. When you find one who you feel listens and hears you, knows what he’s talking about and seems trustworthy and easy to communicate with, why not commit to working together? This is motivation for him to care about and work hard for you, and peace of mind for you in that you have a professional doing the legwork and taking care of all the details. Also, a written Agreement clearly spells out his duties and yours, so you know what to expect.

3. Finding Your Ideal Property, Making An Offer and Closing The Deal: Your agent should help you every step of the way. While you’ll probably do some searching for yourself online, if you are not local to the area you need to trust your agent’s knowledge and advice, especially in regard to the location, condition and value of a property that looks good on the MLS. Photos can be, and often are, deceiving.

Be respectful and expect respect. You and your agent are a team, working together to fulfill your goals. Be honest about your time frame, your financial worthiness and comfort level, your motivation, your circumstances and your feelings. Since this relationship can continue for months and even years, it’s important to have superior communication.

When you find a home that interests you and decide to make an offer, be sincere. Writing up and submitting an offer takes many hours. Expect it to be countered. Offers accepted in total are rare. If accepted, rejoice; you got what you asked for. Once negotiated and under contract, your agent will help with scheduling inspections, ordering title work, ensuring all due diligence and paperwork is completed in a timely manner. He needs to stay on top of all deadlines and issues and keep you informed. Keep in mind that there are some occasions when problems arise beyond his control. He should accompany you to the closing table (if your closing is not mailed out to you) and ensure all questions are answered to your satisfaction and the property is transferred and recorded according to law. Hopefully, when it’s all over, you are satisfied and will refer him to others.

GreenRoads Realty is Santa Fe’s only Exclusive Buyer’s Agency. We welcome your inquiries.

According to my mortgage sources online and locally, government regulations governing all mortgage brokers, bankers and underwriters continue to get tougher by the week. At minimum, here is what is now required: W2 forms and on-going employment, 3 years of tax returns, credit scores above 720 (above 750 preferable), 20 percent down, and a loan-to-debt ratio of no more than 36%. For buyers meeting this criteria, mortgage interest rates remain at historical lows.

Other good news for qualified buyers is that

With price reductions at every price point, now is a good time to buy for cash buyers or those who qualify for a mortgage.

So, if you are an entrepreneur, like many Santa Feans, without W2 forms – no matter how high your annual income, how great your credit scores or how much of a down payment you can make – forget it. You will not get a loan.

The galling aspect of this, and its devastating effect on the U.S. economy, is being seen in the ever-rising number of foreclosures and short sales. Although the number of Santa Fe’s bank-owned (REO) and short sale properties were initially behind the national surge and average, they seem to be creeping up, adversely affecting the lives and credit of our many of our neighbors, and our community in general.

Meanwhile, banks continue to be uncooperative in providing any relief or assistance to struggling homeowners and are repackaging REOs to sell in bulk to commercial buyers, thereby redistributing wealth to the upwardly mobile, as we saw in the late 80s under Neil Bush and Gang’s destruction of the Savings & Loans and subsequent Resolution Trust Corp.

I believe that if the American people truly grasped the “game” being manipulated against the middle class by intentional economic forces, they would rise up en mass against these corporate mega-institutions (read about where TARP fund money went). But, as it is, the corporate media lies about the “lazy unemployed”, our neighbors and friends lose their homes one at a time, and our municipal governments lose their tax base, lay off more employees and shut down more services in an effort to make ends meet. It is a great unraveling, and will be curious to see how it resolves itself in the years to come, especially in light of our enormous national debt.

According to the U.S. National Debt Clock, the outstanding public debt as of Aug. 17, 2010 is more than $13.3 trillion, or $43,250 per citizen, rising at $4.13 billion per day since Sept. 28, 2007. Just think what we might have done to improve our health care systems, schools, infrastructure and generosity to the world had we not squandered this in wars over oil and destruction of lives abroad and at home.

The only bright light has always been and remains the dreams and innovation of the American people. Of all the places in the U.S. where culture and the arts, clean air and tolerance still thrive, Santa Fe remains a relative oasis of sanity and a wonderful place to call home.

Peruvian weavers at UNESCO International Folk Art Festival

From Friday evening Gallery Openings to major world-class arts and music festivals, opera and recreational opportunities, Santa Fe in summer offers a huge array of activities for every interest. There is so much information online that making choices about when to visit, or what to participate in if you’re a resident, can be overwhelming. Here are two superior resource sites that should help your planning:

Santa Fe.org

Summer Events, Museums and Pueblos

In addition to consulting on and facilitating real estate purchases/investments as Buyer’s Agents, we are happy to be your resource for recommendations for accommodations, restaurants, events, logistics. If you have questions or ideas you’d like to share, please post them below in the comments.

Enjoy it all and feel free to call us: (505) 995-0195

Santa Fe, a popular international destination in the American Southwest, is called the “City Different” for a number of good reasons, among them:

It is one of the oldest cities in the U.S., with the Palace of the Governors having the distinction of the oldest, continuously inhabited government building in the U.S. Santa Fe is celebrating its 400th Anniversary (Quatrocentennial) in 2010. The heart of the city is The Plaza, in the tradition of Plazas, or Zocalos, found in Spain and Spanish-settled cities and towns, and acts as a popular gathering point for tourists and locals alike.

Its pueblo-style architecture is uniquely charming and comes with its own vocabulary: bancos, nichos, kivas, vigas, etc. (Click here for a glossary of Santa Fe architectural terms). And beyond architecture, the romance of Santa has infused designs of clothing, jewelry and household objects with a defining term called “Santa Fe Style”.

Santa Fe is a crossroads of three distinct cultures: Native American, Hispanic, Anglo. This cultural convergence and history has informed the city with a richly varied and vital arts community, considered the second largest art market in the U.S.A., after New York City.

The accessibility of Native American culture is apparent in the daily sight of Native artisans selling their wares beneath the portal of the Palace of the Governors, and in the many Pueblos of Northern New Mexico where visitors are welcome.

In addition to fine arts exhibited some 200 galleries, Santa Fe boasts a number of museums including: the Georgia O’Keefe Museum, the Museum of Fine Arts, the Museum of International Folk Art, the Wheelwright Museum of the American Indian, the Institute of American Indian Arts and others, such as the History of New Mexico Museum opening late 2008 or early 2009.

Santa Fe’s renowned festivals and cultural offerings are of the scope and calibre you would expect in a major metropolitan city, and yet you find them in an intimate, European-feeling town of only 70,000 population, albeit the State Capital. To mention a few: Santa Fe Opera with its outdoor theatre and and world-class performances, the Lensic Theater featuring music, dance and lectures, Indian Market (the largest of its kind for Native American arts and crafts), Spanish Market, UNESCO Folk Art Festival Fiesta, and the endearing Christmas Eve Canyon Road Walk where 50,000 people bundle up with their children and dogs and walk, sing carols around bonfires and soak in the ambiance of tens of thousands of ferolitos lining adobe walls and rooftops.

Visitors also find a wide selection of accommodations, from the likes of Rancho Encantado (a 5-star Auberge resort located 6 miles north of the Plaza in Tesuque) to a plethora of chain hotels along the commercial strip of Cerrillos Road, to B&Bs and hotels within walking distance of the Plaza and Canyon Road, and more than 200 restaurants to satisfy the most-discerning gourmet or the tamale afficionado.

Often surprising to first-time visitors is the climate. Santa Fe is located an hour north of Albuquerque (the closest commercial airport) in the foothills of the Sangre de Cristo Mountains (the southern end of the Rocky Mountain chain) at 7,000 feet elevation. Due to this elevation, the landscape is dotted with juniper and pinon pine trees (although a beetle infestation and drought in 2002 killed many pinons), cottonwoods and fruit trees, grasses, and tall pines on the higher slopes. Over the years, much has been domesticated and many luscious gardens are hidden behind adobe walls, although xeriscaping (natural, drought-resistant plants) is now popular.

Temperatures in summer may climb into the 90s (F) but invariable fall into the 60s in the evening. Fall is market by the turning of the aspen trees and golden hillsides. In winter, days can be chilly and snow storms can blow through — Santa Fe Ski area is just 15 miles from downtown. Spring (arriving around mid-April) bursts on the scene with flowers and greenery. It is considered a “mild four-season climate.” With 300 days of sunshine and deep blue skies, an average of 11-14 inches of precipitation annually and spectacular sunsets, Santa Fe is a delightful and enriching destination any time of year.

For more information about – and images of – Santa Fe, please visit www.GoRealtySantaFe.com (“Santa Fe’s Only Exclusive Buyer’s Agency”) and www.GoGreenRoadsRealty.com, your source for All Things Related to Green Homes. Search the Santa Fe MLS and contact us to discuss inhabiting your dreams!

It’s been a wetter and grayer winter than normal in Santa Fe. While we’re all eagerly awaiting spring, this wetness (127 inch snow base at Santa Fe Ski area) will ensure a verdant landscape and full reservoirs.

Meanwhile, the local real estate market is slogging along with signs of pent-up buyer energy and sales the first three months exceeding last year’s. With much inventory from which to choose and increasing motivation by many sellers, coupled with interest rates holding around 5%, qualified buyers have an excellent opportunity to seize upon their dream of owning a home in Santa Fe.

Having recently been certified in short sales and foreclosures after an 8-hour course from the National Association of Realtors, I can tell you that the frustration, uncertainty and lack of care on the part of banks is generally not worth the effort. Banks are not eager to negotiate short sales, especially if there are other lien holders. Getting underwriters to agree to accept less than the loan balance is an iffy-proposition and can take weeks or months to get a response once the homeowner has been re-qualified for the house he’s been paying on, sometimes for many years. If a short sale is finally granted, the price is often not for enough less to make it a “great deal” for the buyer.

Banks are tending to prefer foreclosure. In some cases, they are reimbursed by the FDIC (more taxpayer money!) for the difference between what they sell it for at foreclosure and the balance of the loan. For the homeowner facing displacement via foreclosure, the resentment level is understandably high. This often leads not only to deferred maintenance but outright vandalism and destruction of the property prior to being evicted. Once the homeowner (or tenants) are evicted, the house usually sits empty for quite some time before it is processed by “asset managers” representing the lender and placed with a local real estate agency to sell.

For the homebuyer who may be interested in the property, again the price may not be significantly less than a comparable home that is still owned and maintained by the seller. And the process of offering to purchase a foreclosed property is aggravating, as the asset manager sets all the terms for closing and need not adhere to any typical time frames.

While buyers are being marketed to about the “great deals” in short sales and REO (bank owned) properties, that’s not what we’re seeing in Santa Fe. I am happy to discuss this with you. Call me: (505) 995-0195.

Moving along with changes and improvements to GreenRoads Realty, please visit our new eZine, www.GreenLivingNewMexico.com for articles about Santa Fe arts, cuisine, non-profit organizations and green real estate.

If you are looking to take advantage of the 30% tax credits to cut your energy bills, there’s a simple retrofit that attaches to your water heater, costs about $500 and can reduce your heating bill by 50% to 70%. If you have in-floor radiant heat, rather than forced air, it could save you be up to 70%, because radiant heating uses hot water to heat your house.

Made by Texas-based AirGenerate, their AirTap device was demonstrated at the Solar Decathlon, and helped the University of Illinois earn their perfect score for hot water energy efficiency.

This product claims to turn any conventional gas or electric water heater into an affordable, effective, heat-pump water heater, more than doubling the energy performance compared with a standard electric water heater.

The unit is 18″ wide by 14″ deep by 14″ high, and weighs 48 pounds. It saves energy by drawing heat from the surrounding air and transfers the heat into fluid within a sealed copper coil that is inserted into the hot water tank, heating up the water, so the gas does not have to work as hard.

The $500 cost can be reduced not just by the 30% tax credit, but may qualify for additional rebates, subsidies or tax credits.