Taos Real Estate

Taos real estate is not unique in any respect as far as human nature and property negotiations.  But it is in its own class due to some features of the Taos  real estate market:

• heavily weighted toward vacation and part-time use;
• second homes with no need to relocate for job, etc;
• owners can continue to enjoy home while for sale;
• many are vacation rentals, and can continue while listed; and
• the market can be highly seasonal with the ski area considered.

Motivation plays a large roll in the negotiation process.  And there can be a distinct lack of motivation on the part of both buyers and sellers in the Taos real estate market.  Many buyers are looking for a recreation retreat in the form of a part-time second home.  They don't NEED this home, but they do want it.  Not needing it is definitely a motivational factor.  There isn't a great pressure on buyers to actually buy a home.  They can continue to rent when they come to ski, hike or buy art.

Sellers on the other hand, are the buyers of the past.  They are still, in most cases, enjoying the area, art and outdoor recreation.  They can continue to enjoy these things with little interruption to their visiting routine, even with the home listed for sale.  This means that there is little or no pressure to aggressively price their property in order to get it sold.  They can just put a top end price on it and continue to come skiing.

When a buyer does decide to make an offer on Taos real estate, whether it's a home or land, the fun begins for the real estate broker.  It's a difficult market for bringing the buyer and seller to a deal.  In 2007, I wrote more contracts that never got to acceptance than those that did.  It was a variety of factors, but it usually came down to a buyer without great motivation and looking for a really good deal bumping into a seller without great motivation and looking for the highest price.

The buyer's permanent residence location plays a factor as well.  Buyers from California bring attitudes and real estate experiences that are quite different from a Texas or a New York buyer.  None of them are unreasonable, but each has their own idea of how it should go.  Then they bump into the laid-back Taoseno seller who doesn't really care whether the home sells soon or not.  One thing that seems better in Taos is the lack of personal offence taken when low offers are made.  Some buyers come in too low, but it doesn't seem to get the sellers that excited.  They just counter high and the fun begins.

If you're contemplating buying Taos real estate, it would be good to keep these things in mind.  Unless the market really gets bad, it doesn't seem likely that there will be any true "real estate bargain sales" made.

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