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Market Conditions for Las Campanas in Santa Fe, New Mexico
Reported by Peter Kahn, CRS, CDPE, RSPS, SRES
Updated May 3, 2012.
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Current Market Rating: 1
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5
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Buyer's
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Seller's
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Current Price Trend: 2
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Falling
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Rising
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There are 65 active properties and four sales in the month of April which is about the same as March. The four sales reflected a 90% net of the original asking prices.
I am always confounded by the lack of insight of banks that currently own property here. They refuse the common sense of pricing at fair market value because they "need to get more out of the property". When has a buyer ever paid more for anything because a seller needed more? Some bank owned properties in Las Campanas have experienced price increases! It staggers the imagination.
Days on market for active properties is more than 13.5 months.
Las Campanas continues to provide an excellent opportunity for those seeking everything from a grand home to a 2 bedroom townhouse.
Asking prices curently range from $414,000K to several million.
Average decline in asking prices is currently 6%. This is a reduction from several months ago as bargain hunters are acquiring the distressed properties.
Seven properties are either bank owned or short sales and present exceptional opportunity.
There are 11 properties pending and five of those are either bank owned or short sales.
While some properties do not reflect price changes in their histories, it is probably safe to assume that these owners are not highly motivated and their asking prices may not reflect current fair market value.
ZIP Code: 87506
Location Characteristics: Santa Fe's spectacular landscape, light and traditions have profoundly influenced Las Campanas. Here, residents live inspired lives, pursuing dreams as horse-lovers, active citizens, golfers, artists and collectors.
Life at Las Campanas includes two Jack Nicklaus Signature Golf Courses, an unparalleled Equestrian Center, a well-appointed Spa & Tennis Center and the inviting Hacienda Clubhouse that serves as the heart of the community.
This peaceful setting is home to more than a dozen distinctive neighborhoods, consisting of custom and semi-custom pueblo-style homes and residences with lock-and-leave convenience, to handsomely crafted log-cabin homes and pristine developer homesites that invite residents to match their living spaces to their lifestyles. Each home and homesite uniquely reflects the spirit of the Las Campanas community, offering warm, inviting gathering places for the indoor and outdoor living possible in New Mexico's mild four-season climate.
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Visit http://www.lascampanas.com/ for more information
For More Information:
View Market Conditions of other areas served by Peter Kahn
Navigate: Top > New Mexico > Santa Fe > Las Campanas
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
