Blog
Jan 16, 2006
Friday's Santa Fe New Mexican
The headlines of last Friday's Santa Fe New Mexican newspaper read "Santa Fe median home price hits $470,000". The price of homes in Santa Fe has more than doubled since 2000. Homes outside the city limits have a median price of $419,950. Low interest rates and continuing market demand are pushing prices higher.
That is the good news and bad news as far as purchasing property in this area. It is a great investment in your future because the Southwest continues to attract buyers from both the East and West coasts where prices are much higher. However, home building costs continue to rise as demand for steel, concrete and lumber grows... then add higher oil prices. And, from the many articles I've ready about housing price bubbles bursting, it doesn't seem eminent for this area.
As I mentioned in my last post, I have not raised my lot prices since I started selling lots in 2004, but will most likely price them to market this spring when we start building homes. So, if you are considering purchasing property at Birds of a Feather or in Santa Fe, the sooner you purchase a lot and build your home, the better.
