On Nov. 30, the Federal Housing Finance Agency, the conservator of Fannie Mae and Freddie Mac, released a summary. Tallied therein are the responses received on the idea of enhancing Fannie Mae, Freddie Mac, and the Federal Housing Administration real-estate-owned (foreclosure) asset disposition strategies.
The agency said most respondents suggested strategies that involved renting properties for a period of time and many recommended offering tenants an opportunity to purchase.

The National Association of Realtors emphasized the need for mortgage financing for qualified purchasers, and expansion of resources for loan modification, refinancing, and short-sale efforts.

The agency noted that many respondents from nonprofit organizations and trade groups stressed the importance of promoting local neighborhood stabilization efforts, knowledge of individual communities, and using community groups' expertise in any disposition strategy.

FHFA said that the responses will inform the scope, magnitude and policy choices the agency will consider as it continues to develop pilot transactions.


November housing statistics show prices rising overall. Sales of single-family homes remained level in the city of Santa Fe and Santa Fe County: from 80 in November 2010 to 81 in November 2011. The overall median price of homes in Santa Fe city and county rose 8 percent, from $338,094 November 2010 to $365,000 in November 2011.

Total home-sales volumes also climbed during this same period — up 12 percent from $38.1 million in November 2010 to $42.8 million last November.

Condo and townhome sales lost ground, with 25 last November compared to 33 in November 2010; however, the median price was up by 29 percent: $290,000 this year from $225,000 last year.

Land sales saw a spurt in growth with 14
sales reported in November 2011 compared with 11 land sales in November 2010. The median price of land sales also saw a good jump in price from $90,000 in 2010 to $125,000 in 2011, a 27 percent increase.

The Santa Fe Association of Realtors noted that November 2011 was one of the best months in the past year in terms of the number of online visitors inquiring about Santa Fe listings, according to our third-party syndication partner, ListHub.


So you just bought your first house? Like graduating or getting married, this life-changing event ushers in a new chapter in your life.

Once new homeowners have their house keys in hand and prepare to move furniture into their new place, one question they may find themselves pondering is, "What happens next?"

One major advantage new homeowners enjoy is the ability to personalize and decorate their house; renters are often restricted in this respect. Walls painted in
a rented home will likely need to be repainted to their original color when the renter moves.

Remodeling the interior is an investment a renter will never recoup. In contrast, homeowners have the freedom to strip the interior bare and rebuild it entirely, investing in remodels and upgrades that can pay off in the long run.

This month, Houselogic.com features its 2012 remodeling guide, featuring remodeling advice for kitchens, bathrooms and basements.

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