Santa Fe - Looking For Small Apt or Room (Las Cruces: real estate market, apartment)

[larry08]

Need opinions as to which part of Santa Fe is best to find a small apartment or room (fairly reasonable) in a citylike enviroment close to activities.

Need an area that is walkable while still being able to park my car.

Also interested in Las Cruces or other NM cities.

Thanks

[santafescribe]

There are three condo developments relatively close to town - the San Mateo Condos (on San Mateo & St Francis), Zia Vista and Tierra Zia (both on Zia Road). Don't know whether you are looking to rent or buy, but either way these are good, affordable options that are within 5/10 mins of downtown but close to the stores you need for daily life!

[GregW]

Please define "affordable". Every time I look at Santa Fe area prices I am astounded that they are nearly as high or higher than here on the East coast.

[Towanda]

As one who is shopping for a home in Santa Fe right now, I have watched the housing prices falling dramatically in the last 6 months. We are looking at getting a home there for MUCH less than we would have 6 months to a year ago.

There are already many foreclosures listed in Santa Fe County, but I don't know how purchase of one of those would work.

[santafescribe]

Affordable is of course relative, but the condos I mentioned would include a nice one-bedroom unit for around $135,000.

Regarding foreclosures, NM has one of the lowest levels in the US - currently around 3000 for the whole state. I'm working on one at the moment - a client is buying it. They are complicated, and of course the bank professes to know nothing about the property, so the inspection is very, very important especially septic, well, plumbing, mold and hidden items like radiant heating. Once you sign "ok", you've got no recourse...

[ibarrio]

For Las Cruces I would recommend the University area as walkable and bike friendly.

[Devin Bent]

I signed for a free trial membership of one of the best known on-line foreclosure services mostly from curiosity. In my area of Santa Fe county, they promised me foreclosure listings and send me what they call foreclosures, but all I ever see are properties where somebody has filed against somebody. That happens but it doesn't mean a foreclosure is inevitable. I am yet to see any actual foreclosures in my area. It could be different in other areas.

Certainly, there is a slow down in the Santa Fe real estate market, and I think you will see some price cuts, but mostly dramatically on properties where
1. the owner got carried away and put too high a price originally -- probably against the advice of his/her broker. I know two places in this area (and I am not in the business) where they listed for more than a million and 700K would have been more reasonable.
2. in developments on the edge of town, where the developer has debts to pay off.
3. the occasional motivated seller. That is how we got our place.

Probably none of these will be much help to someone looking for something within walking distance. Santa Fe, I suspect but could be wrong, is like other destination areas. The best bargains pop up on the fringes.

And someone who is persistent is more likely to find a bargain. We meant to come here once for a week -- ended up coming three times.

Good luck

[designer]

Santa fe is much more urban than Las Cruces is. It is a far better walking town than Las Cruces. Las Cruces is starting to beecome just be another suburban sprawl type of town like a tiny Phoenix and doesn't really have a urban core like Santa Fe. Santa Fe is also good for bicycling. I spend pretty much equal time in both towns and they both have a lot of positives but they are both very different.

[desert sun]

I agree,Santa Fe is more of a walking type town and Las Cruces really dosent have a city core,but I do enjoy the weather more in Las Cruces.