Eldorado in Santa Fe, New Mexico, is home to some of the most sought-after real estate properties in the county. My name is Lisa Smith and I am a long-time resident and a realtor in this community. I specialize in listing and selling Eldorado area properties. It is truly a unique community which offers something for everyone: hiking trails, biking, swimming, tennis, basketball, stables, soccer fields, dog park, children’s parks, a 4,000 acre nature preserve and more.
It’s just 20 minutes to the heart of Santa Fe and the art, culture and history our beautiful city offers as well as excellent year-round climate, gorgeous views, clean air and a variety of recreational activities.
There are 2,670 homes on 8,000 acres with about 6,000 residents. Singles, families, artists, couples, sports enthusiasts, writers, historians—you won’t meet a boring person, believe me! Residents have moved here to enjoy the peaceful atmosphere of Santa Fe or just enjoy the beauty and expansive views of Eldorado.
The homes are primarily Pueblo Revival Style with a few Northern New Mexico (pitched metal roof) style mixed in.
The Agora shopping center in Eldorado has restaurants, vet services, hair salon, shops and mail services as well as a beautifully landscaped courtyard. La Tienda across Avenida Vista Grande has tap room, more restaurants, hardware store and boutique shopping.
Dues are an extremely low $525 a year because Santa Fe County maintains the roads. Eldorado also has the top ranked Volunteer Fire Department in New Mexico.
We would not live anywhere else! Please let me know if you have any questions regarding this wonderful community or the real estate properties available in Eldorado.
3 bedrooms, 3 baths. 2,900 square feet. Bonus office and media room. 2 acres. 585K
This property has the ideal floorplan for today’s buyer: 3 bedrooms, 3 bathrooms, office space and a separate media room. Direct entry oversized, 2-car garage and an open floorplan. Add to this amazing mountain vews in almost every direction from elevated lot and plenty of wall space for artwork – it’s your lucky day. New kitchen with beautiful hickory cabinets, stainless appliances, quartz counters and an island with a walnut counter top and additional storage. Luxurious master bedroom has a tile floor, private portal, wood burning kiva with flagstone hearth, large walk-in closet, double sinks, soaking tub and spacious shower. Radiant tubing is Aqua Pex. Paved road. Converted to natural gas from propane 2018. Proper laundry room with a ton of storage and a sink. Carpet in guestrooms is new.
Entrepreneur Allan Affeldt, who acquired the La Castañeda hotel in Las Vegas, N.M., last year, has taken on another Northern New Mexico restoration project, this one in Lamy.
Affeldt, through a nonprofit he created in Arizona, acquired the historic Legal Tender restaurant and saloon building from the Lamy Railroad & History Museum, he confirmed Friday. The museum itself, located in the same building, and a Pullman dining car across the street were part of the transaction.
“There is no bar like that in Santa Fe or Lamy,” Affeldt said. “It could be a really nice attraction.” No money changed hands in the deal.
The transaction, which closed July 13, simply involved the Lamy museum board dissolving and transferring its assets to Affeldt’s nonprofit Winslow Arts Trust, he said.
The Legal Tender, built in 1881, was placed on the National Register of Historic Places and donated to the nonprofit railroad museum in 2006, according to the museum’s website. A distinguishing feature is an oaken bar imported from Germany and installed in 1884, according to the site.
The property, renamed the Legal Tender in 1970, was a nightspot popular with servicemen in transit along the Atchison, Topeka and Sante Fe Railway during World War II. It was called the Pink Garter in those days, according to Affeldt and museum officials. Sam Latkin, treasurer of the Lamy museum, said Affeldt’s acquisition of the property signals a new, potentially successful chapter in its history. The restaurant and saloon, and the dining car that housed a cafe, went through a series of contracted operators before closing about two years ago.
The museum board had contacted Affeldt about taking over the property, Latkin said. He called the deal “a miracle.”“We found somebody that is really good at preserving history and buildings and things,” Latkin said. “He knows how to do it, and he’s capable.”
Michael Gintert, who operated a cafe in the Pullman dining car for five years, also said he was pleased with the deal.“We’re all excited,” Gintert said. “Now that Allan is taking over, he’s coming in with a lot more resources and has plans for it.”
A complaint to the New Mexico Attorney General’s Office alleging artworks and antiques have gone missing at the Lamy museum is still pending, an agency spokesman said Friday. Latkin said the claim, filed in January 2017 by Tom Hyland of Lamy, is without merit.
Prior to acquiring the hotel in Las Vegas, Affeldt had restored La Posada in Winslow, Ariz., an 80,000-square-foot historic hotel. Built in the 1930s, La Posada today is a favorite subject for travel writers and has been featured in Sunset magazine and the New York Times.
Both properties were part of the Fred Harvey Co. chain, which operated hotels along the Santa Fe Railway. La Posada, like La Fonda on the Plaza in Santa Fe, also a former Harvey House, was designed by Harvey architect Mary Colter.
The $5 million renovation of La Castañeda is ahead of schedule, Affeldt said. One wing may open in October and the remainder of the hotel in summer 2019.Another Harvey hotel, El Ortiz, once stood in Lamy.
Affeldt hopes to revive interest in the Legal Tender with the owner of the Santa Fe Southern Railway, which operated a tourist excursion line between Santa Fe and Lamy until 2013.
Santa Fe Southern owner Karl Ziebarth of Dallas could not be reached Friday afternoon for comment on whether the railroad would restore the excursion service.
The bar and restaurant used to benefit from the railway tourist traffic, Latkin said. “At different times, they used to bring people out for lunch and sometimes for dinner,” he said. “We’re not associated [with the railroad], but we sometimes worked together.”
In the meantime, Affeldt is soliciting offers from prospective restaurateurs interested in running the bar and restaurant, he said. The kitchen and dining room are in good shape, he added, and there is a card room, too.
“The building is in pretty good condition,” Affeldt said. “The saloon is the most beautiful in all of New Mexico.”
New Listing in La Paz at Eldorado! True artists studio with beautiful kiva, slate floors, sink, skylights and in-floor natural gas radiant heat. Main house is 1,800 sq. ft. with beautiful long-range mountain views, 3 outdoor areas and kiva in living room. Priced well and ready to go. Happy to schedule a private showing. Give me a call at 505-570-5770.
62 Camino Rosa Linda, Lamy
Gorgeous long-range 360 degree mountain views from this 12.5 acre lot 30 minutes from the Santa Fe Plaza. Serene and peaceful area where you can watch the spectacular sunsets and star gaze every night. Easy building site and shared well is already in place. Shopping and restaurants in the Eldorado area are minutes away. Bring your horses!
Here is the monthly Eldorado Real Estate Report covering the last six months from November 2017 through April 2018.
**Low inventory means higher prices. ** Two Weeks of Inventory – Lowest on Record!
Listing prices are increasing due to the lack of available homes on the market. Multiple offer situations are back. If you are looking for a home in Eldorado, best to get your financing in place now if you are getting a loan or have your proof of funds ready if you are paying cash. Offers contingent on selling another home are still happening, but your leverage will be decreased.
If you are considering listing later in the year, now may be an ideal time as your competition is low.
11 Active Eldorado Properties
18 Homes Under Contract
– $194 was the average price per square foot in April. Remember this number depends on a wide range of factors – the size of the house, age, quality of the finishes, views, heating, construction, etc. The larger the house, the lower the price per square foot. The smaller the house, the higher the price per square foot. This average has ranged from $198 – $218 in the last six months. Some properties sell for as low as $115 and as high as $294.
****55 were the average days on the market last month. *** The Santa Fe MLS has changed the way Days on the Market are reported. No longer are the days counted in which a property is under contract. Which could be 14-65 days typically. Days on the market are stopped the day a seller accepts an offer.
– 98% is the sales price vs. listing price for April. This is the listing price when the property went under contract, not the original listing price, which may have been higher. This has ranged from 97% – 99% for the last six months. The sooner a property goes under contract, the closer to the listing price the seller is likely to receive.
– 423K was the average listing price last month. The average sales price was 410K.
– .06 months of inventory – which means the length of time it would take to sell all the homes listed in Eldorado at the current rate of sales. Six months indicates a healthy real estate market. Eldorado remains a popular and in-demand neighborhood.