In late November, the Federal Trade Commission issued a final rule on Mortgage Assistance Relief Services, referred to as MARS. The rule addresses concerns related to the practices of for-profit companies that, in exchange for a fee, offer to work on behalf of consumers to help them modify the terms of mortgage loans or avoid foreclosure.

The MARS rule: 1) prohibits providers of mortgage-assistance-relief services from making false or misleading claims; 2) requires the disclosure of certain information about their services; 3) bans advance collection of payments for services; 4) prohibits those who may provide substantial assistance or support to providers who are in violation of the new rule; and
5) imposes new record-keeping and compliance requirements.

The final rule is effective on Dec. 29, 2010.


Condominium and town-home sales nearly doubled in November 2010 when compared to last November — 31 condo and town-home sales in 2010 compared to 17 in 2009. Sales volumes for condos and town homes in November more than doubled at $10.9 million in 2010, up from $5.2 million.

Last year, during November, the first-time home buyer tax credit was set to expire, so home sales remained quite steady. This November, the market is off modestly with median single-family home prices creeping up. While home sales were down from 94 in 2009 to 75 in 2010, the median price of single-family homes in the Santa Fe area rose from $326,250 in 2009 to $571,250 in 2010.

The housing data shows that more medium- to higher-priced homes are beginning to sell, especially as mortgage interest rates increase. Realtors have noted the uptick in local market activity.


Santa Fe continues to attract media interest as one of the best places in the country to retire. U.S. News & World Report recently ranked Santa Fe in two new categories as one of the "10 Best Places to Reinvent Your Life in Retirement" and as one of "10 Historic Places to Retire."

The magazine reports on reinventing your life through a retired local art fan who lives in Santa Fe and enjoys volunteering at the New Mexico Museum of Art, Spanish Market and at the International Folk Art Market. All of these venues provide access to art, culture, and entertainment.

Touting Santa Fe as the oldest state capital in the United States where residents can live and breathe history, U.S. News & World Report calls attention to the unique Spanish-Pueblo architecture that has been codified into law. Retired history buffs can also take advantage of the easy access to the great outdoors and clean air abundant here in Santa Fe.

Donna Reynolds is chief executive officer of the Santa Fe Association of Realtors (www.sfar.com).