Real Estate Topics
This page is designed to provide information about Real Estate in Angel Fire, NM. For further information please call the RE/MAX Bella Tierra office at 575-377-1919 or toll free at 1-888-677-1919. I also encourage you to visit the RE/MAX Bella Tierra web site ww.bellatierra.net where you can search properties that RE/MAX Bella Tierra has listed as well as all properties on the Multiple Listing Service (MLS).
SEPTIC SYSTEMS AND THE NEW LAWS
Life is so much easier when we understand that being armed with accurate information is key to a smoother transaction when buying or selling a property with a septic system.
The New Mexico Environmental Department set up a meeting for the real estate community, septic tank installers and contractors on November 1, to help us better understand these rules and regulations.
Here are some tips that will help everyone understand the necessity for Septic System inspections
* The environmental department has long recognized that large numbers of septic systems are polluting the ground water. Did you know that prior to transferring title of ownership on property with a septic system, the state requires an inspection by licensed inspector.
* The original permits of most properties can be found at:
http://www.nmenv.state.nm.us/fod/LiquidWaste
Put last name only or general area- a general search vs. detailed data is best.
* A permit is required, if you do not have one, for $100 at time of inspection
* Have risers installed for accessibility to the tank when the ground is frozen and normally un-assessable. This is critical as many lenders will no longer allow escrow of funds at closing to protect the buyer from failed systems inspected after closing.
· At this time septic inspections are valid for 6 months only.
Public Improvement District Formation Gets a Unanimous Vote of Approval by the Village of Angel Fire
Major Hurdle Cleared as PID Moves Next to a Public Vote
February 18, 2008–Angel Fire, NM—Angel Fire Resort is pleased to announce that on February 14th, 2008, the Village of Angel Fire voted to approve the Public Improvement District (PID) final formation resolution, an all-encompassing plan to bring much needed improvements and infrastructure to 850 lots in Angel Fire. The petition received a unanimous vote of support by the Village Councilors. This critical step forward will enable a vote by the affected property owners within the next ninety days, at which time the resolution must be approved by 75% of the votes cast.
“The final formation of the PID by the Village is definitely reason to celebrate,” said Dan Rakes, general counsel for Angel Fire Resort Operations. “The opportunity for growth and economic development ahead of us now clearly rests with the votes of property owners in our valley. It’s incumbent upon the affected property owners to approve the District, as this is our best chance to move forward with a plan experts agree is the right one for providing the long awaited infrastructure to these lots and enhancing the standard of living for our community as a whole.”
During the same meeting, the Village appointed the PID Board Members, which will include Dan Rakes, Legal Counsel for Angel Fire Resort, Jim Lebus, President of the Association of Angel Fire Property Owners (AAFPO) Board, Hoot Gibson, Village Counsel Member and Angel Fire Village Mayor Pro-tem, Charles Verry, AAFPO Board Director and Pat Brunstad, Director of Real Estate and Land Development for Angel Fire Resort.
The Public Improvement District (PID) final formation documents are available online at http://www.angelfireresort.com/winter/re_pid.html.
The Public Improvement District passed the affected property owner’s vote by 84.9% vs. 15.1%. The count is YES:5837 and NO:1035.
Total votes cast: 262.
The PID board has been formed. They are now a goverment entity and will take things from here. More info to come.
Real Estate sales are increasing this fall. A resort market is not the same as the market out in the “real” world. We have very few foreclosures. For many of our owners their homes here are not their primary residence and much of the land was purchased as an investment.
As the stock market has fluctuated wildly lately, our buyers have said that real estate felt like a wiser investment to them. Unlike stocks, real estate values may go down but seldom go to zero.
PID Assessment
All property owners with land in the Public Improvement Distric should have received the first assessment on their Nov. billing statement. This is the maximum annual levy and will be billed for the first two years. The construction is estimated to be completed in two years. At this time, the PID board will know the exact amount to be assessed for each property. They are expecting the amounts to be less than the current estimation. Property owners will have the option to pay off the amount in full or continue with financing. The financing details are to be determined.
The PID web site is angelfirepid.com.
Mortgage rates moved even lower this week, helped by economic weakness and recent actions by the Fed and the Treasury. Conforming fixed-rate mortgage rates dropped to levels last seen in 2003. According to Freddie Mac, the weekly decline in rates was the largest since 1981.
The Fed and the Treasury are looking at additional programs to boost the economy. The Treasury confirmed that it is considering a plan which would offer below-market mortgage rates for select loans used to purchase homes.
Historically low mortgage interest rates coupled with lower home and condo pricing could translate to great values for buyers.
Greetings I’m new here
:):)
And it looks like a good forum, so just wanted to say hello!
And looking forward to participating.
Going on vacation for a few days, so i’ll be back
Hey
Do you have a feeling on where Economy is ending?
The National Association of Realtors has just this morning released the Existing Home Sales figures for February.
TRENDS:
Existing home sales rose an unexpected 5.1% in February, the largest single month jump- since July 2003. Higher sales were the result of record low interest rates, lower prices and First-Time homebuyers, who purchased over 50% of all existing homes sales. Low prices were due to the fact that 40% to 45% of all sales were distressed properties, which were selling at an average of 20% below market. In Feb, mortgage interest rates were averaging their second lowest point since records started in 1971, or 5.13%.
FEB 09 DATA:
1. Existing Home Sales +5.1% from January to annual rate of 4.72 mil, but -4.6% from a year ago
2. Inventory +5.2% from January to 3.8 mil units or 9.7 month’s supply
3. Median Price $165,400 down 15.5% from a year ago ($195,800)
4. Regional Transactions Northeast +15.6% from Jan and -14.9% from 2008
South +6.1% from Jan and -11.2% from 2008
West +2.6% from Jan and +30.4% from 2008
Midwest +1.0% from Jan and -14.0% from 2008
FOR MORE INFO:
http://www.realtor.org
http://www.msnbc.msn.com/id/29836196/
Excellent site angelfireblog.com and I am really pleased to see you have what I am actually looking for here and this this post is exactly what I am interested in. It’s taken me literally 2 hours and 00 minutes of searching the web to find you (just kidding!) so I shall be pleased to become a regular visitor
Is it a good time to buy real estate?
Yes! Mortgage rates are low, sellers are motivated, and real estate is a great investment for the future. Angel Fire offers many opportunities to find your perfect mountain vacation home or building site at a good value, and inventories are high. Prices are down, especially on vacant lots, however, this will not last.
According to historical data from National Association of Realtor’s existing home-sales series, “Despite some contrary media reports and some moderate losses in value in the short-term, home values long-term have and will continue to rise. Real estate is a long-term investment. Over the past 30 years, the median price of existing homes has
increased an average of more than 6 percent every year. Thanks to the power of leverage, a homeowner’s return on investment is even more impressive over time. Visit http://www.HousingMarketFacts.com to learn more.”
Visit our websites http://www.gooddealsonangelfireland.com and http://www.bellatierra.net to see the homes, condos and land currently available in beautiful Angel Fire.
Hello, I am new to post here and I’m not sure if this is the right place or not. I currently own a 35yr old Honda Franchise. I am looking for an Investor or partner of any type to help me grow my business.
While Honda is closing more than 500 dealers I feel we will be positioned with a great market advantage. I feel this will be the time to really start building a brand. We also have everything in place and working to break into the billion dollar internet sales industry. We are currently accepting online order and have our own reviews section in a leading motorcycle website. Any offers or inquiries welcome.
For more info please contact me at matt@ridemillerhonda.com our Matt 805-698-3843
Website is http://www.ridemillerhonda.com
6 Reasons Why it is still a good time to buy!
1. The Goverment is willing to help, first time home buyers (anyone that has not owned in the last 3 years)can recieve a 8,000.00 tax credit with interest rates at a all time low.
2. People need to live somewhere, estimated 800,000 new households are formed each year.
3. Real estate is still the best investment around
4. Instant equity when the housing comes back
5. A fixed mortgage rate stays the same while everything goes up including rent.
6. It is yours to do with what you want paint, let the dog run in the back yard,
Prepare Now to Pre-Pay
meeting, Abrams told the board he would “push AUI to have
BY MARK ST.J. COUHIG
News editor
ANGEL FIRE – It’s time to start gathering your nickels and dimes.
If all goes as planned, owners of Public Improvement District (PID)
lots will soon have an opportunity to pre-pay in full their special
levy without incurring any of the financing fees.
The schedule now reads like this: the PID board will this week
formally announce the opportunity for PID lot owners to pre-pay their
levy in one lump sum. The owners must in turn notify the PID of their
intention to do so. Then PID owners must pay the fee in full by May
26. On May 28 a loan application for the final sum of the required
financing, less the pre-paid fees, will be submitted to the New
Mexico Finance Authority.
The only remaining issue: how much will be lot owners be required to
pay?
That figure is still in question because the cost of the project
hasn’t been fully settled. Carl Abrams, the PID board’s consulting
engineer, is still working with AUI, the project’s design-build firm,
to establish the final figure. During the PID board’s Wednesday
(April
it by April 29.” Among the issues remaining on the table are costs
for work to be done by Qwest, possible wetlands issues that must be
settled with the US Corps of Engineers, and any additional cost
saving measures identified by AUI.
Board member Dan Rakes told Abrams the deadline is now set in stone.
“No pushing,” Rakes told Abrams. “We have to have it.”
Board financial advisor Paul Cassidy told the board, “When the design-
build contract is completed, we can do the sizing of the loan, and
that will translate to the final amount.”
Board members agreed the final costs would be established by their
May 6 meeting, providing lot owners with an approximately three week
window to pre-pay the full amount. After that, the amount will go up,
said Cassidy.
Board Chair Jim LeBus said by allowing owners to pre-pay, the board
is fulfilling its earlier promise give PID owners an opportunity “pay
out before the full financing.”
“If all goes well, we should be able to close on the loan by June
18,” Cassidy said.
Cassidy also noted the board has already submitted to the New Mexico
Finance Authority a loan application for $26,719,000. “It’s above
what we need,” he said, but explained that the figure can and likely
will be reduced.
Cassidy also said lot owners who pay over time can anticipate seeing
their annual levies drop considerably. As an example, he said someone
now receiving a $3,000 annual levy could see that amount drop to
$2,260 – about a 25 percent decrease. He stressed those figures are
simply an estimate, but that he is hopeful owners will see a
significant drop due to lower-than-predicted interest rates and fewer
defaults on the levies.
To determine the amount you will be required to pre-pay, contact
Davey. The PID office is located in the Enchanted Home Design Center,
Suite 14. Telephone 575-377-3483, or contact her through the PID
website at http://www.angelfirepid.com.
Wetlands still in play
One issue remains a concern for the board: the US Corps of Engineers
hasn’t completed its “wetlands delineation” process. Further, the
Corps’ representative is apparently having some difficulty
establishing whether the PID is a “development,” or something else
altogether. PID Director Penni Davey said “they (the Corps) think
they’re supposed to review all 850 lots.”
The confusion is understandable, said Cassidy, who notes every other
PID in New Mexico has been a development, with one owner. “There are
about 500 owners here,” he said.
If it’s a development, the Corps would be required to evaluate the
entire project, Davey said.
Abrams said the Corps has been asked to re-evaluate their position.
“We’re waiting to hear back,” he said.
Board member Steve Oliver said the Corps hasn’t halted the work.
“They say you can begin any time,” he told the Chronicle, “but if you
put something somewhere in a wetlands you may have to mitigate.”
He also said discerning wetlands is in most cases relatively easy.
According to Oliver, the Corps will determine if the area in question
is wet, or has substantial organic materials in the soil. They also
investigate the types of vegetation present at the location.
Abrams agrees with Oliver’s assessment. When asked by Rakes if he was
confident AUI can begin work this June 19, Abrams responded, “AUI
intends to start sooner than that. There are plenty of uplands where
there’s no question.”
Deanna Cummings, the Corps representative, will return to Angel Fire
the week of April 25 for an extended tour of the PID properties.
Story courtesy Sangre de Cristo Chronicle
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