2017 Client Appreciation Party

2017 Client Appreciation Party

Last weekend, we had a Client Appreciation Party at our home in Eldorado. A good time was had by all and new residents were able to connect. Most of the guests had purchased a home in Eldorado, a few were from Santa Fe.

Eldorado Real Estate

Youth Symphony Mariachi Group perform at Client Appreciation Party. May 2017

Eldorado Real Estate

And they were fantastic!

Eldorado Real Estate

Guests enjoyed drinks and snacks on portal

Eldorado Studio Tour 2017

2017 Eldorado Studio Tour

Preview Gallery May 20-21, 16 Avenida Torreon, 9am-5pm | Opening Reception Friday, May 19, 5pm-7pm May 20-21, 2017 10am-5pm

2017 Open Studios – May 20-21, 10am-5pm

2017 Opening Reception – Friday, May 19, 5pm-7pm, 16 Avenida Torreon (at the Max Coll Center, adjacent to the Vista Grande Public Library)

2017 Preview Gallery – May 20-21,  9am-5pm, 16 Avenida Torreon (at the Max Coll Center, adjacent to the Vista Grande Public Library)

The Eldorado Arts and Crafts Association proudly presents the 26th annual Eldorado Studio Tour the weekend of May 20-21. Once again the Tour leads the pack of spring studio tours with the largest number of artist and artisan participants in New Mexico.

The Preview Gallery kicks off the Tour on Friday, May 19, at 16 Avenida Torreon in Eldorado (the Max Coll Center, adjacent to the Vista Grande Public Library), from 5-7 p.m. with an opening reception. You can meet and talk with the artists, ask them questions about their inspiration, immerse yourself in their work, and enjoy music and light refreshments.

Artist genres include painting, ceramics, sculpture, glass, jewelry, photography, digital images, furniture, and fiber and wearable art. Also included are woodworking, mixed media, and recycled art. To enhance the enjoyment of your weekend, visit the Preview Gallery at 16 Avenida Torreon (the Max Coll Center, adjacent to the Vista Grande Public Library) in Eldorado on Saturday and Sunday, May 20-21, from 9 a.m. to 5 p.m. to view a representative piece of each participating artist’s work. You can also pick up a brochure and a map to each artist’s studio.

Directions to the Preview Gallery:
Eldorado is located 12 miles southeast of Santa Fe on US 285, I-25 at exit 290. Go south on US 285 to the second traffic light at Avenida Vista Grande. Turn right on Avenida Vista Grande and then left on Avenida Torreon. Follow the signs to the Preview Gallery.

Please visit this link for additional information.

2017 Eldorado Studio Tour

Eldorado Real Estate Report – Nov. 2016 – April 2017

Eldorado Real Estate Report – Nov. 2016 – April 2017

Here is the monthly Eldorado Real Estate Report covering the last six months from November 2016 through April 2017. Available homes for sale remain at historic lows. We are seeing an increase in the number of listings as selling season gets underway, but no where near normal levels.

In April:

22 Active Eldorado Properties 

18 Homes Under Contract

18 Sold

– $200 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 $173 – $200 in the last six months. Some properties sell for as low as $119 and as high as $250.

73 were the average days on the market last month. This includes the number of days the property was under contract which is typically 30-45 days. This has ranged from 51 – 188 in the last six months. Homes sold quickly when priced correctly and properly prepared for sale. 

– 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 95% – 100% for the last six months. The sooner a property goes under contract, the closer to the listing price the seller is likely to receive. The 100% figure takes into account that some homes sold above the listing price.

– 408K was the average listing price last month. The average sales price was 379K.

– 1.2 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. Eight months indicates a healthy real estate market. Eldorado remains a popular and in-demand neighborhood. 

If you would like to discuss the current state of the very active Eldorado market, or have questions about this beautiful neighborhood, please let me know.

Number of Homes For Sale vs. Sold vs. Pended (Nov. 2016 – Apr. 2017)
Average Price per SQFT (Sold) (Nov. 2016 – Apr. 2017)
Avg Days On Market & Sold/List Price % (Nov. 2016 – Apr. 2017)
Average Price of For Sale and Sold (Nov. 2016 – Apr. 2017)
Months of Inventory Based on Closed Sales (Nov. 2016 – Apr. 2017)
If your email program is not displaying the chart graphs properly, please click on the following link which will take you to a web page that contains the graphs: Show Chart

*All reports are published May 2017, based on data available at the end of April 2017. All reports presented are based on data supplied by the Santa Fe MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Construction Industry Booms in New Mexico

Construction industry booms in N.M.

With work underway on a Facebook data center in Los Lunas, a major rapid transit project in Albuquerque and hospitals and roads in Santa Fe, New Mexico’s construction industry is off to one of its best starts in years.

The number of construction jobs statewide in March hit 46,000 — the highest since the middle of 2009. The jump from February employment represents an increase of 3.4 percent, the best gain in the United States, according to the U.S. Bureau of Labor Statistics.

That’s nowhere near the peak for the state, which saw 60,000 industry jobs just before the recession in 2007-08, but March numbers are higher than the past few summers and the best in 90 months.

With the state budget facing spending cuts, it’s too early to tell whether the trend will be enough to offset shortfalls in areas such as retail or manufacturing, but preliminary data show construction is helping the city of Santa Fe’s bottom line. Construction-related payments from the gross receipts tax are up 11 percent in fiscal year 2017 compared with the same period in 2016 — that’s a boost of $780,000.

In the village of Los Lunas, construction is well underway on the new data storage center for Facebook. The work so far is dirt moving, trenching and utility extensions, but this summer the first building of a million square feet will start to take shape, said Ralph Mims, director of economic development for the village.

Over the next several years, the site will see anywhere from 200 to 1,000 construction workers a day. “If they go ahead and do all six buildings, we’re looking at nine years of construction,” Mims said.

In Santa Fe, the city is seeing ongoing work at the new Presbyterian Healthcare medical center in Las Soleras near Interstate 25 and Cerrillos Road, as well as an expansion of Christus St.Vincent Regional Medical Center on St. Michael’s Drive.

Both sites have large cranes, something not seen in Santa Fe since completion of the New Mexico Rail Runner tunnel at St. Francis Drive.

Another high-profile project is a retirement center north of N.M. 599 at the intersection of Avenida Aldea and Camino Botanica. Houston-based PinPoint Commercial is building The Legacy at Santa Fe with a total of 84 units offering a mix of limited assistance, traditional assisted living and memory care

The facility also will house a restaurant, a movie theater, a general store, a gym and a library. The company has other facilities in Texas, Florida and Georgia.

Another retirement complex along Caja del Rio Road in the unincorporated area was set to break ground this spring. The Place at Caja del Rio has been given full development approval by county commissioners with plans to complete it in phases over five years.

The initial phase will open in 2021 and, when completed, will have 180 units for independent living, 200 for assisted living, 120 skilled nursing beds and 80 units for memory care, according to information on file with Santa Fe County. The project is being developed by Cauwels & Stuve Construction of Albuquerque.

Closer to downtown, Vital Consulting Group is installing concrete beams and managing the slab jacking across St. Francis Drive for the new underpass of the city’s Acequia Trail. The entire project is expected to be complete by the end of September and has its own Facebook page — AcequiaTrailUnderpass.

The city also has started work replacing the narrow DeFouri Street bridge over the Santa Fe River. The $500,000 project will replace the span between West Alameda and Alto streets that was built in the late 1930s and reconstructed in 1959.

That work continues through the summer and will require some traffic detours around the work zone just west of downtown.

Homebuilding is also picking up in Santa Fe, said Kim Shanahan of the Santa Fe Area Home Builders Association. He said a project by the Pulte Group in Las Soleras is advancing quickly and will eventually have 300 homes. Pulte also recently purchased a tract of land for higher-end, single-family homes in Las Campanas, according to Shanahan.

Twilight Homes and Palo Duro are building new homes in Cielo Azul off Aga Fría Street near South Meadows Road. Also on the south side, the Santa Fe Housing Trust and Homewise have more affordable projects moving forward.

“We signed up 15 homes yesterday for the Parade of Homes,” Shanahan said of the annual new-home tour in which builders highlight their inventory. He expects if building continues at the current pace, the home tour will be bigger than last year.

In Albuquerque, the city’s newest hotel opens next week in Old Town. The Hotel Chaco by Heritage Hotels is 118 rooms and five stories with a price tag of $40 million.

Albuquerque is also in the middle of a bus and mass transit redevelopment project along Central Avenue known as ART — Albuquerque Rapid Transit. The $120 million project, a headache for drivers and businesses, will include new buses, but construction spending alone is $86 million, said Joanie Griffin, project spokeswoman.

“At any given time, there are 350 workers” on the project, she said. Many live in Albuquerque and can now work without having to travel, she added.

“Everything is local except for the buses. Obviously, we don’t have bus manufacturers here.”

Source: JCCAYER.