The importance of being a homeowner cannot be overstated, beside the obvious tax benefits, according to a recent study done by the Federal Reserve, the average net worth of a homeowner is $225,000 compared to a renter at $6,300, that is 40x more net worth for a homeowner vs a renter. This is an astonishing statistic and underscores the importance of home ownership and the path to prosperity. 

A misconception that many of our locals who work in the service sector have is that home ownership is out of reach for them. This misconception is far from the truth and prevents them from having a home of their own and subsequently increasing their net worth. 

Buying a home is a process and that process needs to start somewhere. I know in our brokerage we do everything within our power to get locals into homes. We know that without our locals we would not have the beautiful vibrant towns that we all enjoy, so helping locals achieve stability through home ownership is a priority. 

So where do you start the process? The first step is to start getting your team together by building a relationship with an experienced real estate broker. This is the person who knows the housing market intimately and will find you the right house, this is their job, that’s what they do all day every day. Your broker is the one that is also going to get you with a lender to round out your home buying team. 

The lender is a big part of the equation, your lender is the one that is going to help you get those ducks lined out and make that new home a reality. Very few first time buyers have everything in order, but don’t worry, a good lender will help you get it all sorted out. The lender is going to look at your individual situation, probably request additional documents then make recommendations on what needs to be done so when the right house comes along you are ready to pull the trigger. Getting qualified for a loan can be frustrating at times, however, the end result far outweighs any frustrations you may experience along the way. So if you are thinking about buying, let's get your home buying team together and get you on the road to prosperity. 

Questions, contact me anytime. 

Rob Swan

Swan Realty

575-613-4243

rob@swanrealtyinc.com

According to county records approximately 90% of homes in Red River and Angel Fire are owned by non-residents (owners whose tax bill is mailed to an outside zip code). So what drives people to buy homes in resort areas when they could just simply rent a house when they want a vacation and avoid all the hassles of home ownership? Many people have incomes that exceed their needs and with that comes an unlimited amount of places to invest that same money. So why do they invest in resort properties? Individual motivations can vary widely and in many cases tend to overlap, here are some of the biggest reasons. 

Many buyers just want a second home in order to escape the daily routine of home life at their primary residence and spend some time relaxing and indulging in pastimes that they may not normally have available. 

Rental income. The short term rental market has become a hot commodity over the past decade. Income from renting out your property in a resort area can be lucrative. These funds can not only put cash in the pocket of the owner but can also go a long way in paying for the home. 

Retirement destination. Our towns offer a nice climate, activities, social functions and many other amenities that appeal to retirees. These homes also offer a desirable location for multi generational family gatherings. What grandparent doesn’t want the grandkids around?

Real estate appreciation. Due to supply and demand, real estate tends to appreciate at a higher  rate in resort areas than it does in other areas. There are only so many nice places to go and they always come with a finite amount of available properties. 

Lifestyle choice. If you are reading this, then most likely you have experienced what our resorts have to offer and the fact that we have a nice lifestyle is no secret. The accessibility to outdoor recreation, laid back atmosphere and natural beauty is unmatched. 

Irrespective of the reasons behind their home purchases, these non-residents generate a substantial level of economic activity that contribute greatly to the development of additional infrastructure, thereby enhancing the overall quality of our towns. So to the non-resident and resident homeowners, thank you for being here, it takes all of us to make this work. 

Real Estate Questions? Feel free to contact me. 

Rob Swan

Qualifying Broker, Swan Realty

rob@swanrealtyinc.com

575-613-4243

Real Property is simply land that includes any and all improvements. Improvements could include a home, well, septic system, fencing and any other improvements that may have been done to the property. Personal property is everything else. So why does this matter in real estate?

It actually matters a lot due to the fact that banks will not do real estate loans on personal property. We have had many instances where clients would like to sell their land with a manufactured home on it and end up having difficulty due to the fact that the manufactured home is not attached permanently to the land and still has a DMV title and is therefore taxed separately. Until the title is deactivated and the manufactured home is converted to real property, it is considered personal property and banks don’t do real estate loans on personal property.

So what can you do? The first step is to ensure the house has an approved foundation and tie down system. The next step is to have the house inspected and approved by the local authority. The DMV will then need to de-activate the title and then the owner will make a request to the county to change the valuation status. This explanation is a bit over simplified but it gives you a general idea without boring you with all the details. This process is actually a bit daunting and can be frustrating if you are not familiar with it. However, the benefits are worth it due to the fact that as soon as it is taxed as real property, the home is now eligible for a loan and a whole lot easier to sell. 

Another instance where personal property comes into play in real estate transactions is when the seller includes all the furnishing in the sale. If the buyer has a loan and the furnishings are included in the contract, many times the lender will request to have wording added to the contract that states that the furnishings have no monetary value or are being left in the home as  convenience to the seller. Banks don’t loan on furnishings. 

If you need help or advice in converting your manufactured home to real property, don’t hesitate to give us a call, we are always more than happy to assist in the process or answer any questions you may have. 

Rob Swan

Swan Realty

rob@swanrealtyinc.com

575-613-4243

 Waste Disposal, all dumpsters in the Town Of Red River are public and can be used by anyone for household refuse. All other refuse must be taken to the transfer station located approximately 1 mile west of Red River on Hwy 38.  The facility is located on Straight Creek Rd, look for the Waste Water Treatment Plant sign. Current rates to dispose of refuse is $10 per cubic yard. 

Brush and Limb Disposal, The Town of Red River provides a location at the Waste Water Treatment Plant to dispose of brush and limbs free of charge. They will accept brush, limbs and small trees. They will not accept tree stumps. The facility is located on Straight Creek Rd 1 mile west of Red River on Hwy 38, look for the Waste Water Treatment Plant sign.

Water Testing, The Town of Red River provides water testing services. They will test any water you bring to them. If you would like to have your water tested please visit the Waste Water Treatment Plant to obtain a sample jar and instructions on how to obtain a water sample. There is a fee for this service, please call 575-754-6671 with additional questions regarding water testing. 

Plumbers, Busy Bee Plumbing 575-586-1847, Plumb Crazy 575-770-5915

Electricians, Double Eagle Electrical 575-770-5843, Trevor Lancaster 575-224-4427

Surveyors, Dave Hamilton 903-930-8048, Red Tail Surveying 575-758-7441

Title Companies,  Pioneer Title 866-294-4100, First NM Title 575-758-4264, Tierras Title 575-758-4046

Real Estate Lawyers, Jacob Caldwell 575 770 9150, Steve Nattleson 575-758-4844

Mortgage Lenders, Megan Gallagher 575-770-9883, David Bennet 785-830-4652

Home Inspectors, Chaney Becker 575-779-1983, Cottages and Castles 505-404-3197

Contractors, Randall Kiker 575-770-0644, Red River Const. 575-770-8291, Eriks Workshop 575-754-6219

Septic Services, Latigo Septic Inspections and Installation 575-776-4778, Enchanted Circle Septic Pumping 575-224-6591

Roofers, Joseph Rael 575-770-0161, Daniel Griesel 505-401-6371

Snow Plowing, Cimarron Dugas 575 770 5764, Bud Jacobs 575 770 1537, Scott Wilson 575 770 0560

Electric - Kit Carson Electric - 

Gas - NM Gas - 575-758-5873

Garbage - Town Of Red River 575-754-2277

Water and Sewer (within city limits) - Town Of Red River 575-754-2277

Internet - Kit Carson Fiber Optic - 575-758-4838

Propane - Northern NM Gas 575-377-3744, Pendleton 575-586-0042

The Tourism Overlay Zone was adopted in 2016 in order to preserve the down town main street area in Red River for tourist oriented businesses. 

For a complete copy of the ordinance Click Here - Red River Tourism Overlay Zone Ordinance

Video explaining Tourism Overlay Zone - https://youtube.com/shorts/cpkey9_CCX0

RED RIVER ZONING - We get a lot of questions about zoning and where you can and cannot rent your home within the Town of Red River. Here you will find a zoning map that will show you exactly where you are allowed to rent.

Click here for a larger image that can be expanded - https://bit.ly/38VKHWk-ZONING

Map showing the current Gross Receipts tax rates for the state of New Mexico - Link to map

Title Insurance Rates are mandated by the state of NM

Click Here for a complete list of Title Insurance Rates