Buying Taos Real Estate: Helpful Hints.

Taos, NM, Taos Real Estate, House in upper Colonias, 3 bdr 3 bth

Are you thinking about purchasing a home or real estate property in Taos, New Mexico? There are a lot of things that you will want to think about when it comes to buying a home in this vibrant and glorious city.

Fabulous Bedroom in historic Home, Taos downtown property

 

Taos is a very unique place to live, and before you buy a home in the city, make sure that you have thought it through. If you are interested in Taos real estate buyer tips, you have come to the right place. Take a look at this brief article for more details on how you can own your own perfect home in Taos.

1. Know The Area

The first thing you need to do when you are considering buying Taos real estate is to make sure that you really understand the city. You need to have a good grasp on all of the different areas and neighborhoods within the Taos area so that you can have a better understanding of where you want to live.

Taos summer trail, activities for Taos

 

Taos Mountain early winter

Your individual needs are going to determine where you want to live. Are you a young, working professional that wants to reside close to his or her job? Are you just starting a family and wanting to live close to schools? These are just two of the questions you need to ask yourself when you are thinking about the different neighborhoods you might want to live in in the Taos area.

2. Understand Your Real Estate Needs

Everyone is going to have different requirements and preferences based on the purpose of the real estate that you are buying. Whenever you are looking for Taos real estate buyer tips, you need to keep in mind you with the information that you need, knowing what kind of real estate you are looking for is going to go a long way.

 

It could be that you are not sure what exactly you are looking for until you see it, and that is certainly alright. But you will want to make sure that before you get into the real estate buying process, you have thought about your individual needs and requirements.  Size of property, location, number of bedrooms and baths, garages, outbuildings, views are all items to be considered.

Great dining room in historical Taos New Mexico Home

3. Finding A Real Estate Agent

Finding a qualified Taos real estate agent can take away a lot of the stress and headache that goes along with buying real estate in the Taos area. A real estate agent is going to have knowledge and expertise that you do not have, and  she will be able to advise you on the details of the process. Also, she is going to have access to information that you will not have access to that could potentially help you to get a better deal.
Master bedroom Taos home

4. Why Is It a Good Time To Buy Real Estate in Taos?

The real estate market has gone through some drastic changes in the past few years, and there has never been a better time to purchase real estate in the Taos area. Due to the fluctuations in the market, you will be able to find the best prices on the best homes, especially if you work with experienced and qualified real estate agents.

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Taos, New Mexico, is home to about 6,000 permanent residents, but it’s a home away from home for many tens of thousands more who return year after year to spend their leisure time here. That is thanks in part to the superlative Taos Ski Valley resort and village just a stone’s throw from the town center. But each year, more and more people visit Taos, NM, for its other attributes as well. And many people who visit end up putting down roots in this loveliest of regions, either buying a second home or deciding to make it their primary residence.

And who can fault anyone for wanting to live in Taos, NM? The lifestyle of residents and regular visitors is simply more relaxed and at peace than in most any other part of the country. Living in the natural splendor of the mountains and without the crowds and bustle of a big city helps folks take life at a slower, more fulfilling pace. And the fresh alpine air doesn’t hurt, either!  

Taos, NM real estate, outdoor activities

The area boasts cold winters with plenty of snow for winter sport enthusiasts, perfect for skiing, snowboarding, snowshoeing, and more. But Taos is also blessed with beautiful, mild summers, with the temperature rarely topping 90 degrees and always dropping back down during the cool, pleasant nights. And if weather like that alone is not enough to entice you to visit Taos, the striking mountain vistas, the rolling hills, and the stunning valleys will be!

Daisy on Italianos trail, taos, nm.

Taos is also a region steeped in history. The town itself was incorporated almost 80 years ago, but there native peoples made the region their home for many hundreds of years before Europeans ever set foot in the Americas. The Spanish Colonial influence, prevalent from the 17th century onward, still plays a role in the beautiful architecture of the area.

You can own your own piece of Taos “architecture” for a great value. Though the real estate market is heating up in the area, homes are still available for reasonable prices. There’s a range of styles, sizes, and prices to fit almost any potential home buyer’s wants, needs, and budget. From the low six figures to all the way up, you can find just the right home for you and your family, if you start looking soon.

Taos real estate, Sandia canyon

Taos, NM, real estate presents owners with a great opportunity not only to live in a lovely part of the world, but also to leverage equity out of their Taos home by turning it into a rental or a leased property for some (or all) of the year. Perhaps your family loves the mild summers in the region; why not rent out the house to folks who flock to the Taos Ski Valley resort when the temperature and the snow start to fall? Or maybe you want to ski the steep and deep but prefer to spend summer elsewhere; put your home up for seasonal rental and help it pay for its own mortgage.

Winter skies taos nm

It’s hard to beat a Taos skiing or snowboarding vacation, but there is one surefire way to do it: Buy yourself a piece of Taos, NM, real estate and make it your new home or your regular escape! Let the lifestyle of the New Mexico mountains bring you and your family years of relaxation, serenity, and joy.

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The beautiful town of Taos, New Mexico, boasts a breathtaking landscape, majestic mountains and valleys–and legendary skiing at Taos Ski Valley, only half an hour from the center of town.

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With clear blue skies overlooking seemingly endless terrain and mounds of deep, fluffy powder, Taos Ski Valley has been tapped by readers of Ski Magazine as one of the best resorts in North America.

Taos, NM, Taos Real Estate, Taos Ski Valley, Skiing, Winter Vacation

Operating since 1955, Taos Ski Valley is a family-owned business started by Ernie and Rhoda Blake. One day in the early 1950s, Ernie Blake flew over New Mexico and spotted something he couldn’t quite believe, “a tremendous snow basin” that grabbed his attention. A year later, he claimed it as his own. From the original Snakedance run, Taos Ski Valley now boasts nearly 60 trails with 51% of the runs considered expert level, 25% intermediate, and 24% beginner.

If you’re looking for something even more hardcore, hike to Kachina Peak to experience one of the highest points in New Mexico (elevation 12,481 feet). Peering up at the vast Al’s Run may cause new and leisure skiers a bit of trepidation, but there is something for everyone. Taos Ski Valley boasts one of the top-rated ski schools in the country. The highly popular Ski Weeks held by the school offer six days of instruction created to hone anyone’s technique and possibly widen a student’s trail repertoire.

Taos, NM, Taos Ski Valley, Taos Real Estate, Skiing, Winter sports, Ski Resort

Taos Ski Valley has even more great news for snow sports lovers. Until March 19th, 2008, Taos Ski Valley was strictly a ski-exclusive resort. Now the trails are open wide for snowboarders. Expert snowboard instructors offer daily lessons, along with a host of snowboarding races and clinics.

In addition to the skiing and snowboarding competitions, Taos Ski Valley hosts an annual Taos Winter Wine Festival, a grand event showcasing the finest wines from all over the world. For the beer aficionado, Taos invites all to the annual Brewmaster’s Festival to sample work from the best microbreweries in the West. The Annual Pond Skimming Contest, commemorating the end of ski season, provides fun for all ages as participants race down the mountain and attempt to skim across an 80-foot-wide pond of freezing water.

Taos Ski Valley is the pride of New Mexico for endless reasons. The family-friendly environment and camaraderie enjoyed by all make it a favorite for serious skiers and families alike. Condominiums, luxury hotels, and charming bed-and-breakfast establishments are plentiful in the valley, and the resort has a sweet, rustic charm that’s universally appealing. Once you experience Taos Ski Valley for yourself, you’ll see why it ranks so highly among Ski Magazine readers.

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I started on a dictionary of Real Estate terms last week and only got a far as the A’s.  Yikes.  Well, this is a learning experience and I will give you a few terms per week in hopes that the definitions and then practical explanation will help you if you are a buyer or seller in the Real Estate Market in Taos, NM.

 

Let’s skip to some terms which are often repeated in a normal real estate contract.

Sales Contract: A contract by which a buyer and seller agree to the terms of the sale of real property. 

This means that both buyer and seller agree on a price for the property, closing date of the sale and to certain contingencies outlined in the purchase agreement.  For example, one contingency of the sale may be the ability of the buyer to obtain financing.  Another common contingency may be having a home inspection completed.  In New Mexico, septic inspections must be done prior to selling a property.

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Closing Date:  A date on which a buyer pays for the property and the seller delivers the deed. 

This is the day that the buyer becomes the new owner of the property.  This is a date agreed upon by buyer and seller in the Sales Contract.  This original date from the contract, can be changed, if there is a signed agreement between buyer and seller.

 

Contingency:  A contractual Clause that calls for an uncertain future event to be done or to occur in order for the contract to be binding. 2. A condition specified in the purchase contract. 

Contingencies which are outlined in the New Mexico purchase agreement include the buyers ability to get financing for the purchase, inspections of documents including survey, septic etc., home inspection, clarity of title, to name a few.  A buyer may have their agent include other contingencies such as the sale of another property owned by the buyer.  These contingencies should be written and clearly put forth in the purchase contract.  If you have any questions about any of these or other contingencies, just give me a call!

 

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Inspection:  A physical scrutinizing of documents or property done to assure correctness of paperwork such as loan papers, compliance with codes,  or absence of safety hazards etc.

Normally, a buyer will have a home inspector, thoroughly check out a property and give a written inspection report to a buyer regarding the property the buyer trying to buy.  An inspector will typically inspect both the interior and exterior of a home and will not any problems which are evident in a property.  An example of a problem would be plumbing issues, electrical issues, poor roofing, foundation etc.  I strongly encourage all of our buyers to have an inspection done prior to closing on a property.

For more information about Real Estate in general and Taos Real Estate specifically, call me at 575-758-7890

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In the last few weeks, I have been fortunate enough to write some purchase agreement contracts for buyers who want to purchase properties in the Taos, New Mexico area.

As I sat down with Buyers to prepare the contracts, I realized that so many of the terms used in a typical Real Estate Purchase Agreement sound like a foreign language to most people who are not in the real estate business.

 

I found an online Real Estate Dictionary and started looking at the terminology that is used in real estate.  Wow! for all of you non real estate mortals, I am sorry.  A purchase contract is such a “mess” (as they say in Georgia, where I grew up) of terms.

I hope that by explaining some of the definitions for these terms, that your purchase agreement process will be a little more understandable.  I plan to give you the legal explaination and then add some comments to try and help you understand the terms.  Just so you know, I am not an attorney.

I am going to start with an alphabetical approach, but if any of you have questions down the alphabet, just send me an email and I will skip a few letters and explain some of this jargon in laymen’s terms.

 

The A’s:

Agent

A natural or legal person who has either expressed or implied authority to act for and represent another party known as the principal typically in business matters.

Read more: http://www.realestatewords.com/agent/#ixzz2Brv4ogc4

Well what does this mean? Simplistically, as your agent, I will write your purchase contract for you,  will cover the basic terms of the contract with you, will present the contract to the seller’s agent, and will walk you through the negotiations of that contract, help you with the process of buying the property.  In this process of purchasing a property, there are some logical steps to follow .  An example of one step would having the property inspected by a home inspector. (More on this later) I already have lots to say about this procedure, but will wait for a later date to go through that.

Agency Disclosure

A written declaration signed by a prospective buyer or seller informing that party of the role that the broker is playing in a specific transaction.

Read more: http://www.realestatewords.com/agency-disclosure/#ixzz2BrxFGTMP

Well, hmmm.  As an agent, do I respresent you and the seller or just you as the buyer ?  Important to know.  Also do I have any material (ownership) in the property.  Make sure you understand who the players in this transaction are.

Appraisal

1. A ”defensible” and carefully documented opinion of value most commonly derived using recent sales of comparable properties by a licensed, professional appraiser. 2. A statement of value

Read more: http://www.realestatewords.com/appraisal/#ixzz2BrzXyzhr

If you are getting a loan in order to purchase a property, the lender (bank, mortage broker etc) will want the property appraised or evaluated by a licensed appraiser.  This is done in order for the lending institution to feel secure that the property that you are going to buy, is worth the amount of money that they are willing to lend you for that property.  If you are fortunate enough to be a cash buyer, then you may also want an appraisal done on the property.

I hope some of these definitions help you to understand some of the terminology used in the standard New Mexican Real Estate Purchase contract.  Realtors are not attorneys.  For further explaination of legal terms, talk with your favorite Legal guide.

Understanding the terms and the process for buying real estate makes the whole transaction seem a lot more fun and exciting.

Here is a great video on how to Make a Wise Real Estate Purchase in Taos.  This is just one of many videos and blogs on this subject which I will post over the next few months. 

There are so many factors involved in buying Real Estate in general and specifically in Taos, New Mexico.  Knowledge of the current real estate market, importance of location for your specific needs and desires, condition of the properties available, resale information, and price are all conditions that a savy buyer will research.  Some of these conditions change and some do not.

Have a  look at this video and then stay tuned for more detailed information about the Taos Real Estate market.

 

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If you are looking for real estate in the Rocky Mountains, check out Taos, New Mexico. Why you ask?  I can give you literally millions of reasons, but for today I will list a few very practical ones.

 

 1.  Taos Real Estate prices are at an all time low.

 2.  USDA loans are availble for Taos County because the area is considered rural.  These loans  offer low interest and low downpayments.

3.  The inventory of homes and land for sale in Taos,  is high and there are many sellers who are “motivated” to sell at prices which are favorable for buyers.

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4. Taos, New Mexico offers so many unique features and is a truly interesting and wonderful place to live. (much more on this later).

5.  The climate in Taos is very moderate for a Mountain Resort area.  You are not freezing all the time as you would in Jackson Hole, and yet you can ski in the winter and play golf, tennis, fish, ride bikes, hike almost all year round.  For you outdoor lovers, this is an amazing place.

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6.  Taos is a true center and home for many Artists, and craftsmen.

7.  You history buffs will find a wealth of interest to pursue here.  Three Cultures and three distinct points of view in history, will keep you busy for a lifetime.

8.  Entertainment abounds with lots of local and national musicians flocking to Taos to perform.

9.  Taos is a “foodies” town. 

10.  World class fishing is available in Taos and in the surrounding areas.  Come check out the “secret” waters around Taos and the Rio Grande River.

This is just the start of the list.  Housing is available and priced to sell, Loans rates are at an all time low, There are tons of activities indoor and outdoor to keep you happy and occupied.  Cultural events happen often and are often free to attend.  And the weather is good!

Spectacular one-acre homesite on the west mesa between Blueberry Hill Road and Millicent Rogers Road is an ideal location for your new dream home. The views are tremendous, no matter which way you look.

This particular lot is level. The neighborhood restrictions allow for the construction of a guest house or studio in addition to the main house. Underground telephone and electric are at the lot.  There  are just a few lots left in this popular and upscale neighborhood. The location is really ideal because of the proximity to the historic downtown district of Taos, New Mexico.

Blueberry Hill is an neighborhood which supports good resale value for homes built there.  The lots are large enough to insure privacy and uninterupted views of Taos Mountain and El Salto. views to the west are spectacular as well.

Live minutes from the Town of Taos and Taos Ski Valley and enjoy beautiful sunrises over Taos Mountain and magnificent sunsets that fade into dazzling, star-filled nights. The price is right, so let’s make a deal!

Produced By: Page Sullivan Group | 575.758.7890

This two-bedroom, two-bath home in Upper Colonias is 1688 square feet of Taos magic, set on an acre with mature fruit trees, charming perennial gardens, and shady portals.

The home is frame 2 x 6, pumice, and block construction on a slab. Floors are tile, brick, and bamboo. The living room has floor-to-ceiling windows that overlook the covered back porch and back garden. The entire acre is landscaped. In early autumn, the apple trees are laden with fruit. Paths meander through the garden–and at night, in the distance, you can see the twinkle of lights from town.

The gourmet kitchen is a treat for anyone who loves to cook. The kitchen has an electric oven, a convection oven, a gas range, dishwasher, refrigerator, microwave, and disposal (also included in the sale are a washer and dryer)

Produced By: Page Sullivan Group | 575.758.7890