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Why I love New Mexico

post #1 of 14
Thread Starter 

I fly into Albuquerque and drive up to Taos (the town), check into the motel, and look for some dinner.  But it's kinda late, the obvious restaurants are closed or closing.  I'm going to have to eat fast food.

So, I go through the drive in at Wendy's.  They have the standardized, nationwide, pre-printed menu.  But down at the bottom, what do I see pieced in underneath?  "New Mexican Chicken Sandwich" made with Hatch green chiles!   Thank you, New Mexico!

post #2 of 14

There has never been a better time to buy a second home in the Taos area.  Buy it now and eventually make it your primary residence.  Taos is an amazingly comfortable place to live.

post #3 of 14



 

Quote:
Originally Posted by mdf View Post

I fly into Albuquerque and drive up to Taos (the town), check into the motel, and look for some dinner.  But it's kinda late, the obvious restaurants are closed or closing.  I'm going to have to eat fast food.

So, I go through the drive in at Wendy's.  They have the standardized, nationwide, pre-printed menu.  But down at the bottom, what do I see pieced in underneath?  "New Mexican Chicken Sandwich" made with Hatch green chiles!   Thank you, New Mexico!

I recently got a chicken sandwich at the McDonalds in Raton, NM with green chiles.  It was good toobiggrin.gif

 

 



Quote:
Originally Posted by MJB View Post

There has never been a better time to buy a second home in the Taos area.  Buy it now and eventually make it your primary residence.  Taos is an amazingly comfortable place to live.


On a recent early January 2012 road trip from the East to NM and CO the cheapest gas on the whole trip was in Taos ($2.73).  Also got one of the best deals of the trip via priceline on a motel in the town of Taos.  Taos Ski Valley had the best snow of the trip with VERY impressive advanced terrain!
 

 

post #4 of 14

Taos is indeed awsome.  Grew up in NM skiing it and still make a few trips out each year.  Green Chile abounds everywhere in New Mexico...try it on pizza for a nice surprise!

 

I believe TSV has gotten approval to do quite a bit of expansion & "updating" to the base which will include a lot of real estate and lodging.  I would be curious why now would be the good time to buy there as opposed to waiting for an increase in inventory?

post #5 of 14

Inventory is strong in the area, prices are as low as they will get, and interest rates are rock bottom.  That adds up to a buyer's market.  The lots recently opened up at TSV along Rubezahl have a price tag of around $500k.  I wouldn't call this a deal but these lots are it.

post #6 of 14

I read an article on Taos real estate in the Financial Times last week and am seriously thinking about buying.  Any thoughts on town vs. TSV?

 

Also, will the deals still be there a year from now?

post #7 of 14
Quote:
Originally Posted by MJB View Post

Inventory is strong in the area, prices are as low as they will get, and interest rates are rock bottom.  That adds up to a buyer's market.  The lots recently opened up at TSV along Rubezahl have a price tag of around $500k.  I wouldn't call this a deal but these lots are it.




Nice looking lots, but do you really think this is a good time to build?  From what I've seen at most resorts, you can buy existing,  well below building costs?



Quote:
Originally Posted by chraya View Post

I read an article on Taos real estate in the Financial Times last week and am seriously thinking about buying.  Any thoughts on town vs. TSV?

 

Also, will the deals still be there a year from now?


TSV would be nice, but I wonder what it's like in the off seasons?   A realtor can tell you the inventory turnover rate, how many month/years it would take to sell the current stock.

 

post #8 of 14

This is what I call good looking Taos real estatebiggrin.gif

1/3/12:

DSCN1851.JPG

post #9 of 14
Quote:
Originally Posted by SHREDHEAD View Post




Nice looking lots, but do you really think this is a good time to build?  From what I've seen at most resorts, you can buy existing,  well below building costs?


TSV would be nice, but I wonder what it's like in the off seasons?   A realtor can tell you the inventory turnover rate, how many month/years it would take to sell the current stock.

 

I'm not a realtor and not an expert on the market but I keep up with it. Building costs will not be a consideration for those who buy the lots on Rubezahl.  Those people will have the money to put millions into the land and structure.  I've heard that building costs are down because there are a lot of hungry contractors.  I personally wouldn't want to live at TSV because it is too far from town and rather slow during spring and fall with a little more going on in the summer.

 

I live on the high desert between Taos and TSV.  I prefer the desert because of the views and I like adobe houses which don't work so well in an alpine environment.  There are many upper end houses in this area and this part of the market is stable.  I recently had my house appraised and it has lost very little value since the markert high of 2006.  Real estate moves slowly.  It is not unusual for a house to be on the market for over a year.  Many sales are cash transactions.  But financing around 4% is hard to beat.  I also wouldn't want to live in town and I'm not familiar with that part of the market.

 

If someone is looking for a deal, I've heard they're giving away condos. 

 

 

post #10 of 14

Many thanks.

post #11 of 14
Quote:
Originally Posted by MJB View Post

 

If someone is looking for a deal, I've heard they're giving away condos. 

 

 



I would be interested in hearing more about that.  I personally would be more into a fractional or time share type situation, as I'm in no position to have Taos as my primary residence.

post #12 of 14
Quote:
Originally Posted by elduderino View Post



I would be interested in hearing more about that.  I personally would be more into a fractional or time share type situation, as I'm in no position to have Taos as my primary residence.



Check out www.pinoninvestmentsoftaos.com and give them a call.  They know more about the north side market, including TSV, than anybody.  While they tend to list mostly high end properties, including the Rubezahl lots, I bet they'll be able to help you out.  I don't have a clue about timeshares and I don't know if they do either.

 

post #13 of 14

Personally, I think the Rubezhal lots (Pioneer Glade) are not the best lots - 100% shaded lots - no sun - not worth the price.

 

The Taos condo market is ripe to buy...the only problem is getting a loan - cash deals are getting done but loans on Condos/second homes are scarce in today's banking climate...

post #14 of 14
Quote:
Originally Posted by We Ski TSV View Post

 

 

...the only problem is getting a loan - cash deals are getting done but loans on Condos/second homes are scarce in today's banking climate...



This has not been my experience.  I've closed on real estate loans in 2008, 2009, 2010, and 2012.  As a second home, a borrower needs to put down 25% for a condo and 20% for a house. Dimond Mortgage in Taos has plenty of lenders available for those with good income and credit. My last loan was done on a 30-day lock without a problem.  If somebody wants to buy a second home, it can be done with a loan.

 

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