Frequently Asked Questions About The Taos Real Estate Market

What does property cost in the Taos area?
Generally a homesite lot will cost between $25,000 and $300,000, depending on the size and amenities. Undeveloped land will start at $900 per acre for large tracts. Homes range from $90,000 for a simple cabin to $500,000 or more for large homes with every convenience. There is a wide range of options in between.

Why should I invest in this area?
Supply and demand! In addition to the obvious beauty of Taos County, the big plus is the abundance of National Forest. This public land provides privacy and an enduring quality of life, and at the same times means there is precious little private land available for sale. And demand increases every time another person discovers our "undiscovered" paradise.

What if I don't plan to live here for full time for several years?
You have many viable alternatives. You could purchase the perfect vacant parcel on which to build your dream home when you are ready. Rental properties are in great demand, you might select a home or condominium that will provide some income during the time prior to your relocation.

Is there a relationship between price and location within the county?
Yes. Although there are exceptions, land is somewhat less expensive in the western part of the county and more expensive as you approach the mountains to the east. Homes and parcels offering views and proximity to outdoor activities are always at a premium.

How do I select a real estate agent?
First of all you don't want a salesman - you want a Realtor who belongs to his national, state, and local organizations subscribing to the highest standards of professional service, education and ethics. Ideally, he or she should have many years experience in the purchase and sale of real estate and belongs to the Multiple Listing Service, affording you the widest possible market selection. To avoid wasting your time, always deal with a full time licensed Real Estate Professional.

How do I find the right property?
Once you have located a Realtor, explain your particular situation in great detail. Talk about what you want, need and what you can afford. If an agent wants to do all the talking, you may have the wrong one. Only by listening effectively can your Realtor relate your needs to the inventory of currently listed properties and properties which may become available in the future. Finally, don't be afraid to look - only by standing on the property can you relate its value to the price.

Will the seller take less?
Although many properties sell at or very near the asking price, a surprising number of sales are negotiated. I suggest you make a serious written offer with an Earnest Money Deposit explaining what the property is worth to you and how you want to pay for it. This provides a starting place for negotiations at no risk, and usually results in an excellent purchase.

Will I get an Abstract of Deed or Title Insurance?
Demand Title Insurance - an abstract is simply a history of ownership and is only as good as the opinion of the person who makes it. Title Insurance guarantees your clear title, with some specified exceptions, to the dollar amount of the purchase price, and it is paid for by the seller.