The word is out that "it's a buyer's market" in Angel Fire and Taos real estate. Interest rates are about as low as they've ever been, there is plenty of inventory, and most sellers are willing to bargain. Whether you are considering buying a home for the first time, re-locating to the Taos or Angel Fire area because of the unique lifestyle opportunities or taking the leap from renting to home ownership, now could be the perfect time to act. But just because conditions are favorable, does that really mean it's the right time for YOU to buy? Some important points to consider in determining your readiness to buy include:

1) Having enough money for a down payment. This can range from 3.5% on a FHA loan to 10 or 20% on a conventional loan.

2) Being prepared to deal with the responsibilities of home ownership including repairs and regular maintenance.

3) Willingness to hold the property for 7-10 years or longer in order to build equity and make up for the costs of buying and selling.

4) Confidence in your personal financial stability.

Buying a home can be a very rewarding experience. And it is a long term commitment which will impact your lifestyle, family and finances for many years. Working closely with a Realtor who knows the Angel Fire and Taos real estate market and a mortgage professional familiar with the local area will ensure that your experience is a positive one with your best interest in mind.

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.72 percent, up from 4.71 percent at this same time last week.

The 30-year fixed mortgage rate declined over the weekend, falling to 4.67 percent on Saturday, before climbing to the current rate.

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 3.98 percent and for 5/1 ARMs, the rate was 3.29 percent.

Many prognosticators say mortgage rates will continue to rise this year. Take advantage of this summer sales season to buy your dream home in Taos or Angel Fire. We're here to help you find your dream home here in the Land of Enchantment!

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!

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!

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!

Buying a home in any area of the country these days is challenging, to say the least. Although the deals on homes in Taos and Angel Fire are easy to find, the art is in the deal itself. You can make the task easier by following a few simple rules:

1) Work with a reputable agent. Of course, we at New Mexico Mountain Properties are some of the best around at finding and helping you negotiate the deal on your new home. But the buyer needs to be aware of his/her deal points and what is most important, for example, do you want a drastically lower price, or do you want to close in six months?

2) Buyers should boost their closeability factor. Most sellers would take a lower offer that they knew would close rather than risk accepting a full price offer that had iffy financing.

3) Educate yourself. Ask us if more than the purchase price can be negotiable . . . repairs, contingency periods, closing costs, etc.

4) Be respectful in the deal. You could attach a letter to the offer about yourself and the reasons you like the house.

5) Don't take anything personally by getting overly emotional about the offers you make and receive from the other side. It's a business proposition. Take your feelings out of it!

Finally, it's our duty here at New Mexico Mountain Properties to follow the above guidelines, too, so we know we've lived up to our reputation and found and helped you negotiate the best deal on your new home in Taos or Angel Fire.

Hope to see you on the slopes this winter or lazing in front of your roaring fire in your new home!

The summer of 2010 will be enchanting in Angel Fire. Music from Angel Fire is presenting its 27th season featuring prominent international musical artists. There will be 15 concerts featuring works from the Baroque to the Contemporary.

And speaking of Baroque, do you feel really broke these days? Feel like you can't afford to buy a lovely Angel Fire home or a secluded Taos land parcel?

Did you know that mortgage rates are at an all-time low? Did you know that seller financing is offered on most land purchases? Don't let that Baroque feeling damper your enthusiasm for buying Taos or Angel Fire real estate. Come visit us up here in the Land of Enchantment, feel the cool breezes up in the pines, and see just what how far your dollar will go these days . . . go for Baroque and let us show you around!