Own and Rent Property

While we’re currently seeing a nationwide decline in real estate values, and a much cooler market than just 6 months ago, Santa Fe in New Mexico is still going strong. I find this a bit surprising, but the city has some great things going for it.

There’s a lot of culture available, and with New Mexico getting plenty of Southern California professionals moving there after retirement, the number of cultural events and venues is always increasing.

For the same reason, the job market is holding up pretty well. Yes, most of the jobs are in the service industries (to serve all those retirees, no doubt) but also plenty of telecommuting and professional jobs are available.

Somewhat affordable housing. The bubble didn’t quite break the affordability barrier in Santa Fe, so while it hasn’t fallen as far back as many other areas, it never got all that stratospheric either. Combine that with Santa Fe NM land being reasonably cheap, and it looks to stay that way for a while. Although there are new planning regulations in the works, which will cut sprawl and likely send housing costs soaring, so get in to that market now.

Buying real estate in Santa Fe doesn’t even have to be taxing, as there are a number of very professional real estate agents in the city. I’ve been in touch with a number of Santa Fe New Mexico MLS agents by now, and my impressions are good. So far, I’ve not found the right investment for me, but I’m keeping my eyes open for opportunities.

There’re plenty of both commercial and domestic real estate on the agents’ books at the moment, including some repossessions, so do check with the local estate agents now.