Category Archives: Uncategorized

Snapshot of the market…

In the first six months of 2014 we, in the Deming area, sold 40 residential properties for a dollar volume of $3,996,200.  The average price was $99,905 and the median price was $100,500.  In the first six months of 2015 we sold 32 residential properties for a dollar volume of $3,077,000.  The average price was $96,156 and the median price was $96,500.

I know the market is getting stronger in some parts of the country so eventually it will here.  When the market improves in the Midwest and Northeast so retirees can sell their homes and make a little money they will begin to come back to the Desert Southwest to retire.  You cannot beat the winter weather here…it’s wonderful!  And we have plenty of inventory!  So…get your home on the market and come join us.  We would love to have you!

Wildfire Update (Gila National Forest)

It dry and windy! Be careful out there!

NM Fire Info

More cloud cover, less growth on Pinon and Moore fires. The 3,200-acre Pinon Fire is located 13 miles east of Reserve, NM on the Reserve Ranger District with 40 personnel on scene. The 4,000-acre Moore Fire is located in the Gila Wilderness on the Wilderness Ranger District with 85 personnel on the incident.
http://www.fs.usda.gov/detail/gila/news-events/?cid=STELPRD3842644

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Market update

It’s probably a little premature because more closings could be still pending that actually closed in April but here it is as of this morning.  Comparing the first four months of 2015 to the first four months of 2014 in residential sales in the Luna County area:

Number sold     $ Value          Average Price     Median Price     Average Days on the market

2014       53                     $4,283,550     $80,822              $76,000             199

2015       47                     $4,314,669     $91,801              $80,000             229

This is so weird.  Fewer sales for more money with a higher average price, a higher median price and longer days on the market???  I know I’m not an statistician but this just seems strange.  Guess we will see what the rest of the year brings.  I do know there a lot of properties on the market and it looks like prices are starting to go up a little.  So hopefully we are continuing an upward climb.  Now if we could just get something in the area to bring buyers in to buy houses we would all be in good shape.  Or if someone could put a stop to the foreclosures so the retirees could sell their homes in the cold country and come enjoy our mild winters, that would work too!

Update in beautiful Southwest New Mexico

Mother Nature didn’t receive her calendar this year!  It’s April 28th and the high today is 70 degrees!  It was pretty cool this morning at 41!  We didn’t get snow like many places around did, but we did get a little rain Sunday so it’s worth it and when it does warm up again I’ll probably be whining about that.  Cause, that’s what we do, right.

The real estate market has picked up a little in sales and this is the time to do something if you’re thinking about buying.  In the Deming-Luna County MLS there are 221 active residential listings.  There are 100 listings below $100,000;  63 listings between $100,000 and $150,000; 37 between $150,000 and $200,000 and 18 over $200,000.  If for some reason you don’t like any of the houses we have listed and you want to build…we have 465 land listings in the MLS.

The interest rate is still really good (if your credit is good you can get below 4%) and there is a great inventory to chose from.  This interest rate can’t stay this way forever…I don’t think.  I have been thinking that for a while though.  If you haven’t found a lender yet, give us a call.  We can tell you about a few. If you’re renting and have decided it’s time to stop that, there are some really great First Time Home Buyer loans available. Ask your lender about them.  If they don’t have any available, give us a call.

There are so many great reasons to live in Luna County, New Mexico.  We have the best weather (ignore comments above), great water, lots of sunshine, beautiful night skies, friendly people, delicious chile (both green and red!) and

Sunset 4-27-15

killer sunsets!  Come see for yourself.  We can sell you a house and you can enjoy it all with us!

Things are picking up!

I’m feeling more optimistic than I have for a while about the real estate market in Luna County, New Mexico!  According to my calculations, 2014 was 18% better than 2013 in both number of residential listings sold and in $$ value.  That’s great!  Best news I’ve had in a long time.  And…the first quarter of 2015 is about even with the first quarter of 2014, so we’re still doing okay.

We have a more than ample inventory on the market right now…so if you have thought about buying a home…it couldn’t get better than now.  Of course no one knows what the interest rates are going to be but they are still very good now.  Go to the bank and get pre-qualified and come see us!

Right now there are 212 residential listings in the MLS.  We have houses listed from below $20,000 to over $900,000. There are 100 residential properties in the city limits and 53 in the County.  There are 18 manufactured homes in town and 41 in the county.  One of those residences is the one  you’ve been looking for! Come see us!!!

Land sales in Luna County NM

Land sales in the area are different

In 2013 in the first 8 months we sold 10 parcels of land. This does not include farms. We sold 10 parcels of lots and acreage for a total value of $77,850. The average price was $7,785, the Median price was $5,750 and the average Days On The Market was 441.

In 2014 we sold 7 parcels of lots and acreage for a total value of $106,300. The average price was $15,186, the Median Price was $6,000 and the average Days On The Market was 376.

Land sales have been very slow, so if you have land listed for sale, be patient. Especially if these are small parcels in the Deming Ranchettes or Sunshine Valley Ranchettes. At this time we have 234 listings listed between $500 and $10,000. At 10 sales a year that is a 20 year supply. Another thing you need to be aware of is that if you have multiple land listings on one tax bill that will necessitate a “break out” which means you will have to pay the taxes in advance on that tax bill at the time of sale.

This post in no way implies the opinion of any group or organization. These are my interpretations only!

The first 4 months of the year in Deming, NM

The market seems busier than it did this time last year, and the sales numbers are a little better, but the prices aren’t.

Jan 1 – Apr 30, 2013

46 Residences sold.  Dollar amount $4,622,184 with an Average Price of $100,482 and a Median Price of $100,000.

Jan 1- Apr 30, 2014

53 Residences sold.  Dollar amount $4,283,550 with an Average Price of $80,822 and a Median Price of $76,000.

There are lots of changes going on in Deming and Luna County this year.  By July 1st we will have a new County Administrator, City Administrator, Superintendent of Schools, Deming Mayor and one new City Councilman.  By the first of the year we will also have a new Sheriff and possibly more changes.  Wonder what all those new people will bring to the table.

We need to do something to stimulate some growth and economic improvement in our area.  I realize this is not just our problem, but we certainly have room for improvement.  Maybe it’s time for the citizens and business people here to give some ideas to the officials and try to help out.  We have had positive things happen here too…a new IHOP Restaurant, Holiday Inn Express, Tractor Supply, Dollar General are fairly recent additions.  The Walgreens is coming along quickly as well as the Medical Building near the Mimbres Memorial Hospital.  Those things are adding a few jobs but it would be nice to see a larger employer come in.  Do you have any ideas???  Now is the time to let them be heard.

Just sayin’…

 

Residential sales from the REALTORS Assn. of NM

New Mexico Housing Market On Slow Road to Recovery

Housing trends reported to the REALTORS Association of New Mexico (RANM) for April show a continuing increase in the number of sales, while monthly median prices are slightly lower than prices recorded in April of 2011 and 2012.

New Mexico reflects national growth in number of sales. 1,387 April 2013 New Mexico sales were reported to RANM. In April of 2012, 1,273 sales were reported and in April of 2011, there were 1,110 reported sales. 2013 year to date sales are nearly 10% more than 2012 and over 20% more than 2011 numbers. Homes are selling at a faster pace than previous years which is good news for sellers.

Citing research from the NATIONAL ASSOCIATION OF REALTORS, RANM President Cathy Colvin reports, “Existing-home sales continue to improve, although inventory constraints are preventing stronger growth. After four years of relatively flat activity from 2008 through 2011, nationally, existing home sales rose 9.4 percent to almost 4.3 million in 2012 and are forecast to increase to nearly 5.0 million this year.”

New Mexico median prices (median price indicates half the properties sold for more and half for less) for the month of April 2013 show a -0.3% decrease from April 2012 ($164,000 to $164,490) and a

-0.6% decrease from April 2011 when the reported median was $165,000.

M. Steven Anaya, RANM CEO, says “Nationally, median home prices are rising. While April 2013 median prices dropped slightly, year to date New Mexico median prices reflect this rising trend. Year to date April 2012 New Mexico median was $160,000; January through April 2013 median is reported at $165,000.”

The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.

Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats.

Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Board of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only. Information does not necessarily represent all activity in any market/county. Figures based on reports run 5/21/13. Visit http://www.nmrealtor.com (housing trends) for county and board statistics.

 

The REALTORS Association of New Mexico is one of the state’s largest trade associations, representing over 5,400 members involved in all aspects of the residential and commercial real estate market.