Kendra Ruminer's Two Cents of Real Estate

Take A Peek At Los Alamos, New Mexico

Author: Kendra (Page 12 of 19)

Perceptions of 2021

December 18, 2021 /

As 2021 comes to a close, it’s always fun and exciting to look back over the year and see how things have changed in and around Los Alamos. This year we’ve seen the completion of our new roundabout, more new construction in White Rock’s Mirador subdivision, and even the demolition of the old McDonald’s building. Starbucks is proceeding with their brand new building and there are plans to see a second location of Pig & Fig here in Los Alamos. (but more about that in a future post!)

When I say PERCEPTIONS of 2021, what I’m speaking about are the things that we think we know. And when it comes to the real estate market here in Los Alamos, 2021 has been yet another year where perception is everything.

What determines the value of a home?

Of course the value of a home can be determined by many concrete things like comparable sales in the neighborhood, appraisals, and of course the amenities a home has to offer any potential buyers.

What determines the status of the market?

We sometimes refer to a market as a buyers’ market or a sellers’ market. These designations are defined by plenty of data. There are statistics regarding number of homes on market, average selling price, average number of offers, averages on the number of days on market… The list of data sets can feel enormous! But how do those numbers stack up against perception?

What part does perception play in market status and home values?

The answer? Perception is huge! Public perception. The perception of the brokers and agents working in the market. Perceptions about economics both locally and nationally. No matter where you’re home shopping, perception is a big part of your experience. But here in Los Alamos, perception plays another unique role in defining how we view buying and selling real estate in Los Alamos County.

In the beginning, when Los Alamos was a jumbled collection of government owned housing units populated by employees of the National Laboratory, it was a firmly held belief that this is a company town. Even when employees both LANL (then LASL) and the Zia Company began to clamor for privately owned housing it was difficult to convince mortgage and insurance companies that Los Alamos would ever be able to stand on its own as a town.

Many current residents of Los Alamos still believe deep down that this is true. You’ll hear statements like, “The Lab is hiring! Our property values are going to go up!” Or, you might hear something like, “The mandatory vaccination policy has caused lots of people to walk off the job. The housing crisis up here will probably ease up now.”

These are perceptions. They aren’t facts. And here’s something really interesting I noticed during the last half of 2021: Those perceptions are not really all that accurate. During my last newsletter in October, I mentioned that there was a feeling around the office of the market shifting. Though the statistics didn’t necessarily support our perceptions just yet, I suggested that the brokers around town felt that there was an easing up that could mean more houses available for sale.

As I look back, I’ve begun to realize that this was nearly all perception! There had been quite a lot of news around town and nationally about vaccine mandates and potential job vacancies up at LANL that would end with folks moving out of the area. This caused us real estate professionals to perceive that the market was going to suddenly be flooded with homes for sale because in the past, this has very often been the case. This time, it was what was happening all over our country!

But it didn’t have the same impact on the Los Alamos real estate market this time. Not really. Did we see some effects? Sure. Very small ones though. Perhaps there were only two offers on a home instead of five or six. The number of homes on the market a few weeks ago was twelve, which is more than the usual average. But at the end of the day, here are a few things that I learned:

Trust the statistics more than the perception. Right now real estate markets all over the United States are reflecting the same thing. Americans want to buy their own home. The number of homes available just isn’t comparable to the surge in the number of buyers. Period. It doesn’t matter if you’re in Los Alamos or Germantown, Tennessee.

Los Alamos is a town in its own right. It’s time to shed the 1940’s perceptions behind us. Yes. Housing here in Los Alamos is always going to be unique. That’s part of our history. But all housing crises do not belong solely to our population. They’re everywhere now. We should be focusing on enjoying our town, bringing in and supporting new businesses, and utilizing the amazing activities and amenities our town has to offer.

So get involved this holiday season! Shop small. Take a walk beneath the twinkling lights around the pond. Gather with friends and family and relax. The year AFTER Covid is coming to a close. Things aren’t the same, but maybe that’s all part of moving forward. And when you’re ready to join or leave our unique community, give me a call! I’m your home town real estate expert!

Who Would You Call in Los Alamos?

December 4, 2021 /

Halloween is over, so the answer to this question isn’t Ghostbusters. To be honest, I hadn’t thought about this much until a recent event in my yard caused me to wonder what I was supposed to do with the body in the yard.

Yes. Body. A random predator left the remains of their meal in my yard. Because there were multiple reasons not to let my dogs take care of removing the carcass, I found myself staring at the screen of my phone wondering who takes care of that. After all, it wasn’t an emergency. Dialing 911 to report a dead body in the yard seemed like a bad idea.

The “CDC” in Los Alamos

If you’re a member of this community or you spend any time at all in our county, there is one number you should have in your contacts. 505-662-8222. The CDC. No. I’m not suggesting the Center for Disease Control is the answer to everything in Los Alamos. Here locally, CDC refers to the Consolidated Dispatch Center. The Dispatch center employs state certified and nationally certified emergency service dispatchers. But they don’t just put you in touch with police and fire services. The dispatchers in Los Alamos can be an amazing resource when you’re not quite sure who to call.

Cat Stuck in a Tree?

It might sound like a children’s story, but this situation occurs more than you might think! With all of the coyotes and bobcats in Los Alamos County, cats have to be more than just wily. They have to be brave enough to run straight up a towering ponderosa or cottonwood tree. If your four legged feline friend happens to climb too high, you might need a hand getting them down. Since cats never do this during regular business hours, calling Dispatch should be your first move. They’ll put you in touch with the right people to get your fluffy pal safely to the ground.

In this particular case, Dispatch arranged for an on call Utility worker to use a bucket truck to retrieve a very scared cat named Ella Marie!

Nuisance Wildlife?

We’ve spent a lot of time lately talking about the fact that Los Alamos County is essentially a suburb of the Santa Fe National Forest. That means you’re more than likely going to need help dealing with unruly wildlife of some kind. Going back to the recent event in my yard, I eventually discovered through a series of dead end phone calls, that I needed to contact Animal Control. However, if I had called Central Dispatch from the beginning, it would have saved me time and effort.

Keep in mind that your wildlife emergency could be just about anything. One Los Alamos resident discovered a deer in their yard that wouldn’t move. They contacted Dispatch and a Police Officer arrived in only a few minutes. When the resident asked why Animal Control hadn’t responded, the officer explained that he was already on duty and had previous experience working for NM Fish & Game. It was faster for him to respond to their situation than activating the on call Animal Control officer. In this case, the deer had been injured, but the experienced officer determined that she didn’t need emergency care and she was able to move away from the yard and continue about her business. The situation was handled quickly and with as little fuss as possible thanks to Consolidated Dispatch! The experienced dispatcher on duty knew which officers were available and exactly what their skill sets were in order to determine the fastest solution to the problem at hand.

Do I Have an Emergency or Not?

Whether you call 911 or 662-8222, your call is going to hit the same call center, it’s just prioritized differently. Interestingly enough, cell phones make emergency calls a little more complicated than they have to be. If you have your data off, or your location service isn’t accurate enough, dialing 911 could end with you talking to a 911 operator in Santa Fe. Of course, they can redirect you or connect you to our local office here, but if you had dialed 662-8222 to start with, there would be no question who was going to answer your call.

There are moments in time where dialing 911 is imperative, instinctive even. But if you’re reporting a wreck with no injuries, a traffic incident, a stray dog wandering around, a car on the road driving erratically, or maybe you need to talk to a police officer or someone from the fire department for a non life threatening situation. Dialing 662-8222 might just save you time. And it also leaves the 911 calls strictly for real emergency situations.

So the next time you’re not entirely sure who to call in Los Alamos, give Dispatch a ring. With their deep knowledge of who does what in Los Alamos, they might just send help that you never would have thought to ask for in the first place. And if you’re looking for help with buying or selling a home in Los Alamos, just contact me! I’m your local real estate expert!

Situational Awareness – Part 2

November 26, 2021 /

One of the most baffling and strangely frightening stories I’ve ever heard was told to me by a friend who is an avid outdoorsman. The guy has lived in Los Alamos County for almost his entire life and has spent a large amount of that time outdoors. He’s a hunter. But instead of hunting deer and elk, he prefers to hunt “varmints” in general and coyotes in particular.

This guy and his hunting partner were up above the Quemazon subdivision on what remains of Pipeline Road. The two of them had been out since long before dawn. They were using their scopes to track their next target when only a few yards away from their quarry they spotted a splash of pink and blue bobbing through the field. It was a young woman jogging all by herself with earbuds in, completely oblivious to what was going on around her.

Now, there are a lot of fingers that you could point when it comes to this story. First off, for the record, my friend and his hunting partner packed up and headed back to their vehicle in order to leave the area. Not only did they leave the area, they quit for the day. He said it was not only startling, but outright scary to have a human wander into his rifle scope in that situation.

The hunters were on public land hunting coyotes. They were an appropriate distance from any human dwellings and were shooting in a safe direction. Coyote hunting is legal all year round no matter the time of day in New Mexico. Coyotes are considered “non protected fur bearers”. They’re also nuisance animals and are part of the “varmint” population. Consider that for a moment. It is legal to hunt coyotes during all seasons on any public land in New Mexico. While there are obvious precautions to take as a hunter when choosing where you’re going to hunt coyotes, when does it also become the responsibility of the average civilian who chooses to go running or mountain biking out on public lands to know what you might run into out there?

Two weeks ago, our topic leaned more toward situational awareness related to sharing our local terrain with wild animals such as deer and whatever might hunt them. If you’d like to read more about that, just click here. This week, I’m focused more on common sense and situational awareness.

Going back to the jogger who accidentally stumbled into the rifle scope of a local hunter, I really identify with this poor woman. I love to run! I go with friends and I go by myself too. Sometimes I take my dogs, and other times I don’t. But the idea that I might find myself literally in the crosshairs is something I’d never thought of before!

It’s easy to point the finger at the hunter, but what about the jogger? She was running in the National Forest with earbuds in. The hunters had been out for hours, likely since before she even rolled out of bed. They’d been successful. That meant there’d been sporadic gunfire that morning. Did she hear it? If she did hear it, did she think about what it might mean? And what about the fact that there was a coyote only a few yards away from her path completely unconcerned about the human wandering by?

Los Alamos is NOT suburbia. This community is a unique and wild place to live. We are on the edge of the wilderness. Not an urban wilderness, a real live forest. When I was growing up here, it wasn’t uncommon for people to get lost when hiking or hunting. Search and rescue was called out, and hopefully they were found. Hikers used to take day packs full of emergency gear in case of getting lost or having to take shelter because of a sudden change in weather. And if you went off roading in one of the canyons, there was probably a chance of breaking something or getting stuck and having to walk out on foot or spend the night in your vehicle trying to stay warm and alive.

A second baffling story happened only this past summer at the Sportsman’s Club in Rendija Canyon. There are several public trails that skirt the ranges down there. It’s not unusual to find a variety of trail users since you can leave your vehicle and head out from a parking lot just down the dirt road from the club.

During a typical Sunday morning Trap Shoot, (shotgun sporting for those who aren’t into that sort of thing) one of the club officers who happened to be on the property got a bizarre phone call from someone claiming to be down range.

Of course, the officer immediately shut down all operations at the club. All live fire was stopped and weapons were cleared as is standard procedure for that kind of emergency. The officer and several other members got into a vehicle and headed out toward the very edge of the range in order to find out what was going on.

As it turned out, a young man had been running out in Rendija Canyon by himself. He stated he’d been startled by a cow. He went on to say that the cow had run one direction, and he’d fallen while trying to run in the other direction. He’d twisted his ankle in the skirmish and by the time the club members found the man, he’d removed his shoe and was hopping on one foot trying to find help.

In a bizarre twist, the injured runner had stumbled upon the boundary of the Sportsman’s Club and had started calling the contact numbers listed on the sign in hopes of finding help.

Stop for a moment and digest this story. How lucky was this young man? He had nothing with him and obviously wasn’t prepared for getting injured. When his rescuers asked him where he had left his car, he couldn’t remember. Probably because of shock. His foot immediately swelled when he took his shoe off, which meant he couldn’t get it back on. The odds of his cell phone working while in that canyon were dicey at best. And it’s rather fortunate he ran into a cow instead of a bull because there are both varieties down there. Not unlike knowing about hunting seasons, it’s helpful to know that public lands are also open to grazing leases, which can result in random cow sightings.

So, the moral of today’s post is to be aware! I love Los Alamos. I love being outdoors and I know that many of you come to this community because you love the outdoors too! Being outdoors in a place like this comes with a responsibility. Not just to yourself, but to those around you. Enjoy Los Alamos, but do it responsibly. And when you’re considering a move, give me a call! I’d love to talk real estate in Los Alamos with you.

Questions You Need To Ask

November 20, 2021 /

There are plenty of situations in which politeness involves keeping your mouth closed. As we coast into the 2021 Holiday Season, I don’t think it’s difficult to think of a few choice moments when its better to let sleeping dogs lie. However, there are certain times when it is imperative to say what’s on your mind. Searching for a Real Estate Broker is most definitely one of those times.

Raise your hand if you’ve ever felt as though you could NOT ask a question.

I think it’s probably fair to say that we’ve all experienced this moment. Perhaps you feel it would be rude. Maybe you don’t feel as though you’ve got enough credibility on a certain topic. Or perhaps you just don’t know the right way to phrase a question to get the information you need. Well, when it comes to choosing a broker for your needs, here are a few questions you should really be asking any potential broker that you work with.

How long have you been in the real estate business?

It might feel rude to ask this of a broker when you’re very likely the one who initiated the conversation, possibly by calling the number on their website. But here’s a really important thing to consider. You’re about to trust this individual with one of the biggest purchases of your life. If this is their third sale or their three hundredth sale, you really need to know that.

When you choose a broker, you’re not just getting a person, you’re also getting their network. Brokers who have been in the business for a long time have contacts. They know which lender would be perfect for your situation or which title company will suit your unique needs. They have a working relationship with other brokers in their area and they utilize that relationship for your benefit.

This is also why you should be asking any potential brokers if they’re “full time” or “part time”. There are a lot of brokers out there who have been in the business for a long time, but only do one or two deals a year because real estate is more of a hobby than a job. While these individuals might be really great brokers, they might not be as accessible as you want in a market like the one we’re currently in. Successful real estate brokers don’t have office hours. They are available 24/7 365 days per year. It’s part of the business and while it might seem harsh, if you’re trying to negotiate a deal on the home of your dreams, you want someone who will be available every step of the way.

How familiar are you with (insert city or area here)?

Now, this might seem like a no brainer. After all, you called this broker for a reason that usually involves seeing their name or their number on a sign in the area you’re house hunting in. Or, perhaps you inquired online about a home and got a response from a broker so why wouldn’t they be familiar with the area?

Remember when we talked about using Zillow responsibly? If you missed that post, you can catch up on the ins and outs of Zillow here. But beyond some of the tips I offered up before, there’s something else I’ve been hearing a lot about lately. See, when you inquire about a home online, especially on Zillow, you’re not necessarily getting in touch with the listing broker for that particular home. Zillow allows brokers to purchase leads. That means any hungry, young broker looking to add sales to their resume could be answering your inquiry. The good news is that they’re likely to be not only “full time”, but super motivated to find you a house. The bad news is that they could be from out of the area. Here in Los Alamos, this is a critical piece of information you need to know if you’re looking for a broker to work with.

Our community is unique and so is our home market. When brokers from other areas such as Albuquerque come up to Los Alamos, they usually don’t know the difference between a Group 18 and a Group 11. They don’t always have access to the same information the local brokers do. They don’t have the contacts to find out what offers are pending or where a home is in the listing process. Again, they don’t have the network. In several of these cases, outside brokers have encouraged their buyers to make offers above what that buyer might have needed to. Sure. The buyer gets a home and the broker gets a sale, but it most definitely wasn’t in the buyer’s best interest. Not that the broker did it on purpose. They just didn’t know any better.

This can be the case when you’re leaving the Los Alamos area and looking elsewhere too. I’ve often referred my buyers to other brokers in the area where they really want to look. I’m your local Los Alamos Real Estate expert, but if you tell me you’re looking for horse property in La Mesilla or Nambe, I’m not going to pretend to have the first clue how to find you the best situation for your needs.

(Insert Question Here)

No, seriously. You are buying a home. There is no such thing as a stupid question. I’d much rather have you ask than have you get two thirds of the way into the process and not understand what’s happening. Your broker is working for YOU. Yes. They’re busy people and sometimes when people are busy they forget that not everyone knows as much about the process as they do. But at the end of the day, you’re paying a broker to walk you through this. If you didn’t want that service, you’d be buying a house without it. That means, if you feel confused or upset or worried, you need to be communicating that. Of course, tact is appreciated, but if you ever feel as though you CANNOT ask a question because your broker might get mad at you, then you’re not working with the right person for you and your needs!

At the end of the day, it’s about having the courage to say what you think and feel and the confidence to remember that YOU MATTER. I’m not suggesting buyers should become the real estate version of bridezilla, but brokers are used to working their clients through cold feet, confusion, and even disappointment. We’re also used to sharing in the excitement and elation of finding that perfect house and helping it become YOUR HOME. It’s all a part of the job!

So ask the questions. And when you’re ready to talk with me, give me a call! I love to talk about real estate in Los Alamos!

Situational Awareness in Los Alamos

November 12, 2021 /

I think it is pretty safe to say that we’ve been enjoying some incredible weather here in Los Alamos. Cooler temperatures and beautiful blue skies always make me want to get outside! Whether you’re a runner, biker, hiker, or prefer a trek with your dogs or even your horses, there is probably nothing more relevant to your outdoor ramble than situational awareness.

I know. You’re probably scratching your head and wondering what on earth I’m talking about. According to Wikipedia, “Situational awareness or situation awareness is the perception of environmental elements and events with respect to time or space, the comprehension of their meaning, and the projection of their future status.” Not that Wikipedia is the most reliable resource, but in this particular example, they’re right on the mark.

A short while ago, the Los Alamos Daily Post published an article talking about local residents feeding the deer and asking that this practice be stopped. The article contained plenty of interesting information, but I think what struck me most was the reference to a NM Wildlife study that suggested there were no more deer now than there have been in the past.

Um, really? Then why are they everywhere?

The most likely answer? Deer aren’t stupid. There is cultivated grass, plenty of shrubs, gardens to munch on, and even deer chow available at some houses. It’s not unlike the popularity of Loma Linda as a place to get great candy on Halloween. Within a few generations, the deer aren’t just here in Los Alamos to snack, they seem to know they can’t be hunted and that they even have the power to stop traffic! If you want to see this phenomena in action, head down to the Los Alamos Sportsmen Club. It isn’t an uncommon sight for deer to be grazing on the range while active gunfire is going on.

What does this have to do with your morning run in the beautiful fall weather? Other than wondering how long it’s going to be before we get body checked by bold as brass deer running past us, I think the real focus should be on what the deer attract.

See, the main point here is that Los Alamos is not a city. This isn’t some suburban town. In fact, if you were going to call us a suburb, we’d be a suburb of the Santa Fe National Forest!

From an August 2011 brochure from NM Game & Fish:

“Generally, large predators are elusive. They tend to live in remote, rural country like Los Alamos County. Consequently, the number of predator human interactions is increasing. This increase is due to a variety of reasons: more people moving into their habitat, an increase in prey species, drought conditions
requiring them to expand their home range, more people using hiking and biking trails in their habitat and a greater awareness of the presence of large predators.”

Ahem! An increase in prey species? Maybe like dozens upon dozens of practically tame deer hanging around in one place? So going back to the definition of situational awareness, the perception of environmental elements and events with respect to time or space, the comprehension of their meaning, and the projection of their future status. This means when you spot those deer, don’t get so distracted by the novelty of hanging out with wild creatures who seem completely unbothered by your presence, be thinking about what else is out there! What other critters are hanging about in the shadows watching those deer?

I’ve said it before and I’ll say it again. Be aware when you’re out and about. If you’re out with your dogs, don’t assume Fido is barking at a squirrel. If he’s really freaking out, he might be trying to tell you about a pack of coyotes or a bobcat in the area. If you’re rocking out to your fave tunes you might be so distracted you don’t even notice!

Make sure your peripheral vision isn’t blocked by a hood or some other headgear. Either headphones off or make the volume very low so you can hear what’s going on around you. If you need to stop and rest, do it in the open where there is no cover for a predator to hang out and wait for prey. A good number of the trails on the outskirts of Los Alamos County were originally game trails. If you’re running at dusk or at night or early in the morning, it’s probably a good idea not to use one of these. After all, the predator might not be hunting you, but it’s best not to get in the way all the same.

So ENJOY the beautiful fall weather! Take your earbuds out and listen to the birds in the trees and the breeze rustling through the leaves. Now that the time has changed, the days are going to get shorter and soon we’ll be talking about winter weather. And when you’re ready to discuss real estate in Los Alamos, give me a call! I’m your local real estate expert. I love Los Alamos and I’m always excited to meet new neighbors!

The Market of “As Is”

November 5, 2021 /

Home For Sale – Needs TLC

Our community is unique in many different ways and the available housing is probably one of the most eclectic pieces of that differentness. Homes that come on market here in Los Alamos County are as varied as it gets. You might be looking at a home in Mirador that was only built two years ago. You might be looking at a Group 11 that has been updated and renovated until it barely resembles the original structure. Or, you could be considering a custom home built in the seventies or eighties that has quite literally been in a time warp since the first owners moved in and began raising their family.

There is actually something strangely attractive about going into a home and looking at it through the very optimistic lens of HGTV. The good news about homes from that era is that they are generally pretty darned spacious. The lots back in those days were huge. You’ve got good general construction to work with. And honestly, you can make something that looks like Grandma’s House into YOUR HOME with a good contractor and ready cash. And in a market like this, it’s not too crazy to consider the possibility of making that investment into your home.

Please. Please. Please go into these “as is” sales with your eyes wide open. It isn’t uncommon in the current market to see sellers, (this happens A LOT with FSBO sales btw) telling buyers up front that their home is for sale AS IS. Sellers don’t budge off a sale price because of what comes up on a home inspection. They don’t feel they have to. And in reality, they don’t. But it is a giant red flag if a seller tells you that you CANNOT have a home inspection before purchase.

I’m always concerned when my buyers suggest skipping the home inspection because they’d rather not spend the money when they know they’re going to buy the home “as is”. Many times these are buyers who come to me and tell me to “do whatever it takes” to get this home. They don’t care. They want it. It is their dream home and they’re so passionate about that right now they’re ready to go! Love is blind. Even when it comes to a home sale.

Here is what I always suggest they think about. Yes. Right now it doesn’t seem like a big deal that the kitchen needs to be gutted and the roof is more than a decade past its expiration date. But the average home mortgage term is 30 years. You need to know what you’re really getting into and a home inspection will at least provide you with an idea. It isn’t the reno projects staring you in the face. It’s the ones hiding in the crawl space that really matter. The average home owner purchases a home and lives in it for 2-5 years. You don’t want to spend those five years making repairs to keep your dream home from falling down around your ears and never have any time or ready cash to make the changes that really allow you to live comfortably and happily in your home. Yes. You might be purchasing a home “as is”, but you also need to do it “eyes wide open”. Are you certain you know what needs to be done? Do you understand that certain things take priority? Safety vs Functional and both of those over Pretty?

These are really big questions that buyers need to ask themselves when they’re considering that home purchase. My hope is that things are slowing down so that “whatever it takes” can coexist more peacefully with buyers being thrilled beyond belief with the journey they’re about to begin in their new home! After all, that’s what makes my job so amazing. I’m your hometown real estate expert, but I’m also your neighbor. I love watching my buyers move in and really make that house their home! So give me a call! I’d love to hear from you!

Bridge the Gap

October 23, 2021 /

The brilliant colors of autumn are beginning to wane. There is a distinct chill in the morning air and all too soon Daylight Savings Time will be over. We’ll roll back our clocks and enjoy an extra hour to stay snug in our beds. Yes. Fall is here. Halloween is almost upon us, Thanksgiving is right around the corner, and – not to freak you out- but there are only 63 shopping days left until Christmas 2021.

For those of you still searching for that perfect home or those considering selling one that no longer feels perfect, the market here in Los Alamos County still continues to be a seller’s market. A week or two ago there were actually over twenty homes available on the market, an unprecedented event in recent memory. However, we’re starting to see some signs of “buyer fatigue”. There aren’t quite so many offers for each home prior to sale. Many people have taken a pause and aren’t so sure they want to shop for a home right at the moment. There is certainly something happening here in our local market. And no. This doesn’t mean you’ve missed your window. LANL is still hiring. Homes are still in high demand. And this demand for homes is nationwide and not just here in Los Alamos. Which brings me to a few interesting points about the market of “as is”.

Bridging the Appraisal Gap

Many of you have heard this phrase before. We’ve touched on it a few times in past posts. The appraisal gap. The distance between what a home is valued at by a licensed appraiser and the bank willing to offer the mortgage, and the price the seller is asking or the buyer is willing to pay. Traditionally, this gap was seen as being in the buyer’s favor. If a bank determined that a home wasn’t “worth” what a seller was asking due to recent comparable sales in and around the area, then a buyer would lower their offer accordingly. At that point it became up to the seller as to how badly they really wanted to sell their home. Either they lowered their asking price or they waited for another buyer who really wanted to buy the property. Most of the time, they lowered their price and the sale continued. This isn’t the case anymore and it isn’t just the home markets seeing this trend. Have you tried to purchase a vehicle in “high market demand” lately? Dealers are adding up six or seven thousand dollar “market premiums” onto their MSRP because certain popular models sell out and create a supply/demand issue. The way that we buy and sell things in general has most definitely changed!

However, something that has affected that appraisal gap in recent months is the fact that we are seeing most of the homes selling in our county appraise at a level consistent with what – at first glance – might seem like a steep purchase price. Why? It’s actually both simple and very complex. See, we’ve been in a seller’s market for a long time now. There have been a lot of buyers bridging that appraisal gap for more than a year. I’ve seen clients bring more than thirty thousand dollars plus their down payment to the closing table in order to secure the home of their dreams. But this has effectively created a market that supports the purchase prices we see now. Why would House A not be valued at X when Houses B, C, D, & Z have sold for right around or even more in the last six months? Once enough sales have taken place, an appraiser has enough comparable sales to establish a higher value. Of course that’s great news for anyone who had to bridge that appraisal gap in the beginning.

A home is worth what a buyer (or 3 buyers) is willing to pay for it in an open market. Even if it does not appraise to value, it is still worth what someone is willing to pay for it, and the worth is not dependent on the appraiser’s opinion of value.  This is the reason people are making their offers with the appraisal gap language.  They are stating that this home is worth it to me, and I’ll put my money where my mouth is.

I often get asked what happens when a buyer suddenly decides that they’re not quite so willing to bridge that appraisal gap. After all, there are reasons writing an offer for a home is serious business. The offer is a contract, a binding legal contract. When my buyers decide that an offered purchase price is no longer in their best interest, I always tell them they need to consult an attorney. It is possible they could be held to the contract with their signature on the dotted line. This is and continues to be a serious risk. Legal action, consequences, and keeping your word are par for the course. Certainly there could be issues with financing, qualifying for a mortgage, and plenty of other concerns when it comes to closing on a home. But if you agreed to pay X, then you’d better be prepared to pay X. Sellers have often made plans based on the offer they accepted, maybe made an offer on another home, or even just scheduled movers. Sellers typically choose the offer based on the chances of it closing on time, for the agreed upon price, and under the agreed upon terms.  It is a big deal for a seller to have to go back on the market for many reasons, people wonder what happened (is something wrong with the house?), they’ve lost time, and interested buyers.  There is no guarantee of multiple offers when going back on the market after a deal falls apart, and no guarantee that they’ll get as much money with the first buyer.  There could be legal and monetary ramifications for defaulting on a contract even in a seller’s market when the house could sell again. 

What would make a buyer change their mind about bridging the appraisal gap? The other aspect of “as is” has a huge impact on that. The home inspection. But we’ll talk more about that next week. For now, I’m going to sign off and remind you that I’m always here ready to answer questions about appraisal gaps and every other aspect of home buying and selling here in Los Alamos. After all, I’m your home town real estate agent. So give me a call! I’d love to chat with you.

Live on the Edge in Los Alamos

October 14, 2021 /

If you’ve spent much time driving around Los Alamos getting to and from the homes of friends or maybe just walking your dog, you might have missed taking a tour through Ponderosa Estates. The neighborhood isn’t unlike Los Alamos itself. You have to intend to go there. You deliberately drive to the corner of Diamond Drive and Range Road and make the turn by the fire station and head down and out of sight. Either you’re trying to get to the Guaje Pines Cemetery, you’re headed to Ponderosa Estates, or you are set to leave the map entirely. The terrain is gorgeous. The trees are tall and thick. And in some cases, residents have decks that are perched upon the edge of the map. One step and the forest awaits.

The first homes in Ponderosa Estates were developed in 1993. The original proposal was for 222 single family homes on 111 acres of land. The development was set to take place in 4 phases, each phase being completed before another was set to be started. After 27 years, the next phase is finally in the planning stages. Phase 3 consists of 49 homes proposed to occupy 11.62 acres.

Why So Long?

A good number of residents here in Los Alamos probably assumed that whatever had been built down in Ponderosa Estates was the end of it. Why wouldn’t we have thought this? It’s been going on thirty years since any construction took place in what was originally an area designated for access to forest land used for everything from ATV riding and camping to wood cutting. The answer that has been suggested is the economy. Once phases 1 and 2 were completed, there was less demand for new homes in Los Alamos. The market was variable and development was expensive. There are also several other issues to address, some of which were brought up at a February 26th meeting of the Planning and Zoning Committee.

One thing that isn’t commonly known is that responsibility for maintenance and snow removal on the streets of Ponderosa Estates isn’t a clear cut thing. Theoretically, once all phases of a proposed subdivision are completed, the streets are dedicated to the county and the county then becomes responsible for everything from snow removal to water service and traffic issues. Right now, this is not the case.

Other issues under discussion are possible park or green space areas to give neighborhood children a safe space to play, and of course, traffic. If you’ve ever driven around Ponderosa Estates, one of the first things you notice is the winding and often steep nature of the streets. Some of the driveways themselves are incredibly intimidating to maneuver in bad weather.

The good news though, is that talks are underway regarding the approval of developing a variety of dense residential options to help alleviate some of the housing pinch here in town. The proposal is for phase 3, but that means there’s another phase to come and that’s great news! Not only are they proposing to maximize the number of units in order to provide housing to as many residents as possible, but planners are paying attention to the terrain in relation to aesthetics in order to create an attractive street view to the properties that will really be an asset to the landscape of Los Alamos County.

Ponderosa Estates is just one of several upcoming new construction developments here in Los Alamos. That means even if you’re not ready to sign on the dotted line for your new home right this second, there’s a good chance that when you are, Los Alamos is going to have a home for you. Give me a call and let’s talk Real Estate in Los Alamos! I love to chat with residents whether they’re coming in or going out. We’re all a part of this community and that makes us neighbors in this unique place!

Get Ready for Winter in Los Alamos

October 2, 2021 /

When the clouds lifted off the mountains and we finally said goodbye to this last storm front, not only were we soaking wet from a LOT of rain, but our mountain peaks got their first visible snowfall. Snow. Since we’ve only just said goodbye to a couple weeks of rather warm weather, it’s difficult to immediately turn our attention to winter. What happened to fall, right? It’s October! We should be thinking about Halloweekend in Los Alamos. It’s pumpkin season, people! But here in the Secret City on the Hill, it isn’t unusual to find yourself slogging through knee high snow drifts when Trick or Treating. And as Mother Nature reminded us very forcefully only a few years ago, she’s still got a few epic winters up her sleeve.

So, here are two categories to at LEAST glance over before you find yourself stepping outside one morning to find Santa’s Reindeer nibbling on your Jack o’ Lantern.

Your House

I’m not suggesting you pull out the snowblower and park it by the front door. But, if you have a snowblower, at least pull it out and make sure it starts. Does it need maintenance? Is it parked behind the golf clubs and an entire year’s worth of yard care tools?

While you’re locating and servicing that snowblower (if you have one), check the status of your snow shovels. Are they still in decent condition? Are you likely to pull a muscle just trying to get the raggedy thing to push a path from your front door to your car? More importantly than that, if you depend on a stack of firewood to keep your home warm, do you have a snow shovel handy to clear a path from the door to the wood pile? Do you depend on heated water bowls for your pets? Find them and make sure they’re still functional. If you have chickens at home, be real about the amount of insulation in their coop. Do you need some extra straw or other bedding? What about a heat lamp for those really cold nights? Don’t wait until you’ve got snow in your bedroom slippers to plan for the cold weather.

Get ready right now! If your snow removal equipment is in good shape and ready to use, then take a look around your storage area. Imagine you woke up to the first snowfall. It’s not just a dusting of the white stuff either. But it isn’t enough to cancel school and prevent you from having to go to work. Ask yourself how long is it going to take you to unbury and untangle your snow removal gear from the garden shed or garage? Be realistic. Asking this question now is likely to save you a whole lot of frustration and maybe a late morning later in the season.

If your snow shovel is a lost cause and that brand new bag of snow melt you were sure you bought at the end of last winter is either almost empty or missing entirely, DO NOT WAIT TO PURCHASE MORE. You heard me, friend! Most hardware & home improvement stores begin stocking these supplies in the early fall. Be the first to replenish your stock. Don’t be the guy standing in a nearly empty aisle playing last man standing just for the right to purchase an overpriced container of snow melt or the very last snow shovel! Sure. We’re always playing a bit of Russian Roulette with the amount of snowfall we’ll actually receive. But the winter of 2019 taught us it’s better to be safe than sorry and we should probably all remember that lesson!

Your Car

Yes. That’s right. Your car! Fall is the time to check your antifreeze levels. Consult your owners’ manual (or the Internet) for instructions on how to do this important chore. If you’ve got a four wheel drive, when was the last time you actually tried to use that feature? The appropriate time to hit that button is NOT when you’re stranded in a parking lot feeling smug about getting home in your 4×4. Oddly enough, back in 2019 when we had all of that snow, I heard from more than one frustrated SUV owner that the SUV they thought was a 4×4 actually wasn’t one at all. Not all SUVs have the same features. And full time all wheel drive is not the same as four wheel drive. Know your vehicle’s capabilities. Check your tires. Some front wheel drive cars can be amazing beasts in the snow if they’ve got good tires. It’s much better to know before you go. That way, you can opt to just stay home if that’s the wiser choice.

Even if you think you’re completely prepared, there is always the possibility of getting stranded in your vehicle. It doesn’t take much to be prepared for this, but preparation is key. Now is the time to put together a small box of emergency supplies and keep it in your trunk or perhaps the cargo area of your SUV.

Space blankets make a wonderful start to any cold weather emergency box. They don’t take up much space and you can find them in the camping or outdoor department of the store. You might want to add a fleecy blanket of some kind too. These are comforting and can keep you warm for a short period of time when you’re waiting for a ride.

Hand warmers are something a lot of people don’t think about and wish that they had. Hot Hands makes a variety of chemical warmers that work like first aid ice packs. You pop them and they heat up. You can buy a multi pack on Amazon for less than twenty bucks and keep it in your emergency box. Having toe warmers in your shoes can make sitting in a rapidly cooling car a lot less frightening.

It isn’t a bad idea to put some kind of food rations or snacks in your emergency box as well. Protein bars work well, or fruit snacks for the kids. And its always a good idea to have some bottled water in there too. Most inexpensive bottled water can freeze and thaw without breaking through the plastic so it shouldn’t be an issue with your car sitting overnight in the driveway.

The other key ingredient to the emergency box is to keep checking it to make sure you’ve got what you need. Maybe you used all of your snacks waiting in the car the other day for the kids to get done with sports practice. Or one of the kiddos grabbed the blanket for a nap in their seat and took it into the house with them. The truth is that we live in a town, but we don’t live in a huge metropolitan area.

Most of us who grew up here in Los Alamos remember parents nagging us to have extra clothing in the car or a spare pair of shoes or boots. Maybe we’re in the habit of keeping half a dozen jackets or sweatshirts in our backseat at any given moment. This is because Los Alamos is still pretty rural in some significant ways. You are NOT going to be able to call a tow truck in a snow storm. If you’re stranded somewhere in the county you can call the police or the fire department to come and get you out of your car, but that’s going to take time. And in some cases, you’re going to be better off leaving your car and walking to the nearest neighborhood for help. So be prepared and have boots and jackets for everyone with you! Put some waterproof gloves in your emergency kit. Maybe some extra socks or even an entire dry set of clothing. It’s always much better to be prepared than be sorry.

Remember, Los Alamos is an awesome place to be! But when you’re this close to the bonafide wilderness, there are both benefits and costs. Sure. You can curl into a cozy chair at night and listen to the bull elk calling like a bunch of third graders learning to play the recorder or hear a pack of coyotes howl at the moon as they sprint past your yard. But we also have to think about bear proof trashcans, bobcats in our chicken coops, and getting stranded in a snowstorm. So be prepared! And when you’re preparing to buy or sell your home, give me a call! Rain or snow, I’d love to talk to you!

What EXACTLY is a Hilltopper?

September 27, 2021 /

Since Homecoming Fever has only just recently passed, plenty of you were out to support our football teams. The Los Alamos Middle School Hawks in their blue and silver are always eye catching. After all, there is little doubt what a Hawk looks like or why they make a fearsome mascot. However, High School sports are still king in these parts and there’s no doubt that Los Alamos is Home to the Hilltoppers! But if you didn’t grow up as part of that legacy, you might be scratching your head and wondering what a Hilltopper IS.

First off, just so you know, there are approximately 36 other schools nationwide who claim the name Hilltopper, one of the oldest being in Fall River, Massachusetts where the school was founded in 1887. Yes. 1887. And Durfee Hilltoppers have something in else in common with students in Los Alamos. Their city was once referred to as “the Hill” and the school was sort of built on top of that hill. As were we. Although, since Durfee sits at 121 feet above sea level and Los Alamos sits at 7,320 feet elevation, it can be argued that our claim to a mountain man for our mascot is probably far more appropriate.

Hilltopper mascots take the shape of mountain goats, foxes, the little yodeling mountain climber straight out of that Price is Right game, and even Western Kentucky University’s great big red blob referred to affectionately as “Big Red”.

What makes OUR Hilltopper history unique? Let’s take a look and see.

While LAHS’s first graduating class was in 1944, the school became a permanent structure in time for the graduating class of 1946. LAHS was originally funded by the Atomic Energy Commission as part of the continuing support network for research conducted at the Lab. We have had two presidential visits, (John F. Kennedy & Bill Clinton). And our high school has always boasted a list of incredibly distinguished alumni for such a small high school. The school mascot of the Hilltoppers came into use sometime in the 1960’s. Originally, the Toppers were represented by a top hat and gloves. In fact, the school yearbooks (La Loma, to those in the know) in the eighties still featured the top hat and gloves motif.

Our Mountain Man

In 1980 a wonderfully artistic student was asked to paint an image of our Hilltopper on the wall of Griffith Gym. This bright vision of LA Mountain and our very own “Hilltopper Man” was unfortunately lost during the renovations to the gym’s HVAC system in 2004. Honestly though? Anyone who has spent much time in the gym probably prefers the wonderful air circulation provided by the fans in lieu of having a giant blond man strongly resembling a former LAHS Wrestling coach grinning down at them.

The Green and the Gold

Our school colors were chosen to reflected the glorious fall colors displayed on the Jemez Mountains that provide the dramatic background for our school. Green for the deep green of the evergreens and brilliant gold for the foliage on the Aspens each autumn.

It might interest you to know that in the old days, not all of our LAHS seniors wore green graduation gowns. In days past, green was only ever worn by the young men. The young women wore yellow. The rumblings of discontent about the particular shade of yellow worn by the young ladies began in the early nineties and reached a fever pitch midway through. By 1995, all of the graduates were wearing deep green as they currently do now.

Now you know just how awesome a Hilltopper really is, and more importantly, WHAT it is. Whether you like the top hat and gloves or the mountain man, our Hilltopper has always been more about the awesomeness of just being a part of this unique community and a high school with a long and distinguished history of not only academic excellence, but creativity and ingenuity. Many of our graduates go on to distinguished secondary programs from the Air Force Academy to Johns Hopkins University.

Perhaps of of the things that makes OUR Hilltoppers most unique is the fact that we DON’T try to dress anyone up in a costume. There aren’t any furry animals or giant mountain men running around our football fields. WE are the Toppers, after all.

Regardless of where you fit into the Hilltopper Legacy, being part of our community here in Los Alamos is a great experience! And when you’re ready to talk real estate in Los Alamos, give me a call. I’m your home town real estate expert… and yes. I’m proud to be a Hilltopper!

« Older posts Newer posts »

© 2024 Kendra Ruminer's Two Cents of Real Estate

Theme by Anders Noren — Up ↑