Wow! Taos is on the map again! Chosen by the February issue of Sunset Magazine as THE cool vacation home place, charming, inviting, Taos is the place to invest.

Taos values continue to hold up in this depressed housing market and the vacation rental market has held. Of course we're seeing Californians and Texans continue to invest here - Taos is within driving distance of Texas and a short plane trip from California. But we continue to see folks from the northeast and southeast investing here, as well as lots of people from outside the US.

Thing about what Taos has to offer: the art scene is great year-round; we have world-class skiing all winter long; and you can't beat the hot air ballooning, hiking, biking and sight-seeing in the spring, summer and fall.

Now is the time to think about investing in real estate in Taos, while mortgage rates are low. We have just the perfect situation for you, whether you're looking for land, a condo or a single family home.

Brian Summerfield, Online Editor at Realtor Magazine is reporting some interesting trends for the mortgage industry this year:

Mortgage rates will likely remain relatively low for awhile this year, although credit will continue to be challenging to come by:

1. No new plan will be implemented to reform Freddie and Fannie this year although GOP reps are making reforms a top priority. A speedy resolution is not anticipated, however. When they finally do get some reform through, it will probably include an overt guarantee of government backing.

2. FHA will continue to be the prime mover in the secondary mortgage market, as the main driver of home loans for first-time buyers.

3. Refinances will go down and purchases will go up.

4. Jumbo loans will remain hard to come by.

The good news is that mortgage rates will be relatively low for most of the year, so get your loan aps in now, before the rates rise. And more good news is that purchases will probably go up.

Now's the time to buy, buy, buy. Don't put your new purchase on hold to see where rates go toward the end of the year!

Remember, Angel Fire and Taos are dream destinations for full time living, retirement or vacation investments. Come see us or call us today!

Michele Lerner, author of Homebuying: Tough Times, First Time, Any Time, offers reasons why real estate is likely to improve in 2011. Here are five reasons she thinks consumers should consider a home purchase next year:

1. Mortgage rates will stay low. Even with rates climbing -- maybe to as high as 6 percent by 2012 -- they are still well below where they have been historically.

2. Tax cuts could help. Extending the tax cuts could encourage a more rapid recovery for the economy.

3. Americans want to be home owners. A recent Fannie Mae survey showed that Americans still believe a home is a safe and desirable investment.

4. Builders are about to begin building. Home builders have been sitting on the sidelines. This year, they think pent-up demand will create an appetite for new homes.

5. Homes are shrinking. Homes are getting smaller, which has made them more affordable.

Be sure to call us and let us show you some homes here in beautiful northern New Mexico. 2011 could be the year you realize your dream of owning a home in Taos or Angel Fire!

Proving what I've always said about the Angel Fire and Taos Real Estate markets . . .

Sales data in the Angel Fire and Taos areas from January 1, 2009 to January 1, 2011 show only a 1% decline in sales prices! Additionally, total sales between 2009 and 2011 show only a one percent decrease . . .

In other words, our market is more resilient to downward trends than most other areas in the country. And what does this good news mean for those looking to invest? Come and see what our markets have in the way of second homes or vacation homes. Or, if it's time to make your move permanent, come check us out. With the MLS data showing prices and sales staying steady, you can feel good knowing that our beautiful area is a great place to invest.

We'd love to show you around the area and show you just why we love being here in Angel Fire and Taos. The snow's great in both areas if you're a skiier, and of course you already know about the art scene, the hot air balloon rides, the llama treks, the fishing and hiking and biking, and all that other good stuff.

We hope to see you out here this winter. Remember, life's not getting us any younger with the advent of this new year, and it's time to start doing what you really want to do, and being where you really want to be.

Have a happy 2011, and if success comes your way, enjoy that, too, but above all, be happy!

Many blessings to you all!

Christmas and New Years can be a great time for showing your home to its best advantage. A green Christmas tree with other holiday decorations can be a wonderful asset, especially it you don't overdo it. A welcoming wreath on the front door, the aroma of Christmas cookies just out of the oven . . . You know the scene.

But if you're into decorating, don't make the mistake of piling on lots of extra stuff like an inflatable Santa in the foyer or Christmas toilet paper in the powder room. Keep your decorating simple and tasteful. That way the decorations will add to the decor and cozy feeling of your home but not distract a potential buyer.

As important as the interior holiday decorations are, probably the most crucial is the initial drive-up impression, the curb appeal. We all know how bleak our yards look in the winter, so add a bit of bling with a few strands of non-blinking white lights, perhaps some poinsettias on the porch, that wreath on the door, and maybe even an outside holiday tree on the deck.

And please, when the holdiays are over, remove the decor immediately. There's nothing worse than showing a home in the middle of January that's still showing the holiday spirit. New Year, new look for a house on the market. Besides, my mother always told me it's bad luck to keep your decorations up after New Years, and we know we need all the luck we can get in this market!

Have a wonderful holiday season. Come see us next year. We'd love to show you Angel Fire and Taos real estate!

Here is some helpful advice from Trulia for making your next home purchase:

1. Minimize your holiday spending and save your cash. Instead of using the holiday sales to acquire a new winter wardrobe of cashmere sweaters, hold the discretionary spending down so you can give yourself the gift of homeownership! If you are serious about buying a home next year, don't run up additional credit card debt on gifts this year. Instead, make homemade cards or write holiday letters this year for everyone except the kiddos. And even for the kids, consider scaling back on the stuff, spending more of your time with them than your money, and getting started now saving toward your home purchase.

Kickstart your 2011 homebuying resolution by starting a "Home" savings account at an high-interest, online bank (the discipline-boosting goal is a bank that isn't super easy to transfer funds out of when you run low on cash), and set up an automatic deposit into it every payday. To get specific about your savings goal, if you're cash-flush, obviously a 20% down payment will get you top notch interest rates and provide you with the maximum ability to manage your monthly payments. If you're going to be more of a bootstrapping buyer, an FHA loan might be right up your alley - they offer a down payment of 3.5% of the purchase price.

All buyers should plan to have at least 3 percent of the purchase price saved up for closing costs, even if you want the seller to chip in. The lower-priced the home you want to buy, the more percentage points you should be willing to chip in for closing costs. It's easy for closing costs on an $150,000 FHA loan to run as high as $4,000 or more, considering transfer taxes, inspections, appraisals and mortgage insurance fees. So, even the scrappiest buyer should have a savings target somewhere around 6.5% of their target home's price. To buy a $200,000 home, for example, that would mean a savings target of $13,000.

2. Research financing, areas homes, prices, agents and online. Smart homebuying takes a lot of research and knowledge-gathering. Since most buyers find it much harder to qualify for a mortgage than it is to find a home you'd love to live in, start with studying up on home financing and what it will take for you to get a home loan (note: FHA loans are preferred by the average homebuyer on today's market who has less than a 10% down payment, so start your research there).

If you're considering relocating next year, now's the time to start narrowing down states, cities and even neighborhoods that may or may not work for you. Take into account the job market, housing and other costs of living, and income and property tax rates, as well as the critical lifestyle inputs that vary from state-to-state, like weather and whether the place is a personality fit for you and the life you want to live, be it urban sophisticate or outdoors adventurer.

Also, start to develop a feel for home prices in a what-you-get-for-your-money type way, and start narrowing down the home styles and even neighborhoods that might fit your aesthetic preferences and lifestyle.

3. Rehab your credit, if you need to. Go to AnnualCreditReport.com and check out your credit reports - from all 3 bureaus - for free. (Note - these will not give you your credit score for free - that costs extra, but it will give you the actual detailed credit reports.) Audit them for errors and do the work of disputing inaccuracies to have them corrected. Pay particular attention to: accounts that are not yours/you never opened, derogatory information that should have "aged off" your report by now (i.e., 7 years for late payments, 10 for bankruptcies) and balances or credit limits that are inaccurate (i.e., your credit card balance is listed at $2500, but you actually only owe $250.) These are the errors most likely to foul up your financing, so follow the instructions each bureau provides to correct them, stat. While you're at it, don't close any accounts, even if you are able to pay some down or off - actually, check out these tips for getting the bank to give you the best possible home loan, without unintentionally making your score worse!

4. Run your numbers. In the past, some overextended homeowners complained that they felt pushed into a mortgage they couldn't afford. Pundits blamed that on the real estate and mortgage industry, but I have witnessed firsthand many a homebuyer push themselves or their spouses into buying too expensive of a home. Eliminate this issue entirely by doing this - run your own numbers, before you ever even talk to a salesperson or start looking at homes beyond your means. (I assure you, once you see the million dollar home you think you can afford, the $250,000 home you can actually afford will be underwhelming.)

Get your monthly finances in order, and get a clear read on how much your monthly bills are - outside of housing. Decide how much you can afford to spend every month for housing, when you buy your home. Get clear on exactly how much cash you plan to have at hand to put into your transaction up front. When, in the next step, you begin working with a mortgage broker, you'll want to share these numbers with them, early on in your conversation, to empower them to tell you what home price you can afford - not based on their rubrics, but based on what you say you want to spend every month and what you want to put down.

5. Talk to a real estate and mortgage broker (1 of each). We at New Mexico Mountain Properties have all the info you need for finding and financing a wonderful home in Taos or Angel Fire. Just email us or call and let us know you'd like to work on putting an action plan together for buying a home next year, and would like to talk with us about what action steps need to go on the list. We'll brief you on the timeline of a transaction in our market, and point out for you things like when along the process you'll need to bring money in, when you'll need to miss work and come into our office or the closing office. We offer conveniences like digital document signing, and we can advise you on the local standard practices about which you'll need to know. Depending on your target home purchase timeline, we'll take you to look at a few properties to reality-check your expectations or narrow down a broad wish list.

When you get in touch with the mortgage maven, if you're serious about buying, you will want them to actually pull your credit report, check the actual FICO scores that come up on their system and give you their professional recommendations for what final tweaks you can do to your debts to get your credit score where it needs to be.

Again, we're here to help you achieve your homebuying goals for next year. Give us a call today and let New Mexico Mountain Properties help you get in the game!

Lots of people are concerned about their liability for capital gains tax these days. Following is an informative perspective from Jennifer Pendizeck of Asset Preservation that may shed some light for you on this confusing subject:

"It is imperative to understand how you can avoid paying capital gain tax when selling any investment property. Currently, the federal long-term capital gain, which applies to assets held for a year or more, is at a lower rate than the short-term capital gain tax rate. The long term rate was reduced in 2003 to 15% for most taxpayers.

"The reduced tax rate is effective through 2010. Beginning January 1, 2011 the long term tax rate is scheduled to sunset and revert to the prior rate, which was generally 20%. Additionally, state income tax applies, and any depreciation taken over the years is recaptured at a federal rate as high as 25%.

"By performing a 1031 Exchange, you can defer all of the capital gain taxes due on the sale of a property. To fully defer the taxes, you must buy property or properties equal to or greater than the sales price of the one you are selling and spend all of the proceeds. If you buy for less, you can partially defer your taxes.

"Any taxpayer contemplating an exchange of a vacation home should be able to substantiate that their primary objective in owning the property is to hold it for investment, rather than personal use. Efforts to rent the property should be documented and rental income should be reported on their tax return.

"In an effort to make it easier to determine if your property would constitute an investment property Revenue Procedure 2008-16 has created a safe harbor for exchanges involving vacation properties , under which the IRS will not challenge whether a dwelling unit qualifies . The safe harbor will apply where: (1) the relinquished property is owned by the taxpayer for 24 months immediately prior to the exchange and the replacement property is owned for at least 24 months immediately after the exchange (the "qualifying use period"); and (2) within each of the two 12 month periods constituting the qualifying use period, the taxpayer has:

a) Rented the property to another person or persons at a fair market rent for 14 or more days; and

b) The taxpayer's personal use of the dwelling unit does not exceed the greater of 14 days, or 10 percent of the number of days during the 12 month period the dwelling unit is rented at a fair market rent.

"Property that does not meet the terms of the safe harbor may also constitute qualifying investment property depending on the specific facts and circumstances. To be sure, any taxpayer contemplating a 1031 exchange should consult with their legal and tax-advisor."

The November Housing Scorecard features key data on the health of the housing market including:

-An additional one million families refinanced their mortgages in the last quarter, taking advantage of the lowest rates in history on 30-year fixed mortgages. Since April 2009, record low interest rates have helped more than 8.3 million homeowners to refinance, resulting in more stable home prices and $15.2 billion in annual borrower savings.

-As expected with the expiration of the Home Buyer Tax Credit, new and existing home sales have remained below levels seen in the first half of 2010. However, the good news is that home prices remained level in the past year after 33 straight months of decline and homeowners added $95 billion in home equity in the second quarter.

-More than 3.73 million modification arrangements were started between April 2009 and the end of August 2010--more than double the number of foreclosure completions during that time. These modification arrangements included nearly 1.4 million trial Home Affordable Modification Program (HAMP) modification starts, more than 600,000 Federal Housing Administration (FHA) loss mitigation and early delinquency interventions, and nearly 1.8 million proprietary modifications under HOPE Now. While some homeowners may have received help from more than one program, the number of agreements offered were more than double the number of foreclosure completions for the same period (1.6 million).

Data in the scorecard also show that the recovery in the housing market continues to remain fragile, but the recovery will take place over time, and the Administration remains committed to its efforts to prevent avoidable foreclosures and stabilize the housing market.

Times are trying for everyone, but if the Fed data is correct, we may see a continuing improvement in real estate sales and values. Of course, the Taos and Angel Fire areas tend to be somewhat insulated from the rest of the country in lower values since Taos and Angel Fire properties are in lovely resort areas. The deals are out there, and we at New Mexico Mountain Properties would love to show prospective buyers what they can get for their money.

Call us or visit us this winter and let us show you your perfect piece of paradise!

Angel Fire Resort has announced the creation of an unprecedented land sales incentive that would make available 100 mountain top lots, lot sizes ranging from ¾-acre to 1-acre on Angel Fire Resort ski mountain. Many of these lots are just steps away from the top of the Chile Express chairlift (elevation 10,600') & the cost is only $999, plus an Angel Fire Resort Platinum Membership (annual dues are currently $2,350).

This is an incredible deal . . . own a fantastic piece of land in an incredible ski and golf resort, with unlimited access to all the amenities!

The lots are located in Angel Fire Chalet 3 Subdivision, located at the top of the ski mountain with no utilities or roads. Although the developer will not be responsible for infrastructure, this is a fabulous opportunity for a FUTURE building site, and an opportunity for the PRESENT because buyers will have access NOW to all resort amenities: Fitness Center, Pool Access at the Angel Fire Golf & Country Club, Free RV Park Usage, Preferred Ski and Country Club Parking, Locker Storage, Fishing at Monte Verde Lake, and 20% off All Resort Food, Beverage and Retail Purchases!

All for only the cost of the Platinum Membership and your lot priced at $999! Sounds like a deal to me!

If you'd like more information on this incredible opportunity, call us here at New Mexico Mountain Properties. The home and land deals are here and now you can become part of this very special resort area for a bargain basement price!

Lots of folks these days are looking for deals, and often they find them in foreclosures. Taos and Angel Fire real estate has lagged behind other markets in foreclosures. Our market has been fairly insulated from bank sales, but that may be changing soon. So if you're thinking about a real deal, consider stepping into the foreclosure market. But while you're there, there are a couple of important things that may put your mind as ease about buying a foreclosed property:

Contrary to what you may have heard in the media, title insurance is getting easier to obtain on foreclosed properties due to the bona fide purchaser rule, under which courts would prefer to simply award cash damages to be paid by the culpable bank to a wongfully foreclosed-on homeowner, rather than reversing the sale or ownership to the new, innocent buyer.

If you're waiting for "shadow inventory" to be released, banks are expressing that they are not releasing this inventory in order to avoid flooding the market and driving home values down further. Don't expect to see a huge influx of these shadow homes onto the market anytime soon. If you see a foreclosed home that fits your needs now, buy it now.

As always, we at New Mexico Mountain Properties are honored to have you as clients. We are well versed in foreclosure sales and look forward to helping you find the deal of a lifetime on a special property in the Angel Fire or Taos area. Call us!