Dia de los Muertos, or Day of the Dead, is my favorite holiday. In 2015, I had the privilege of experiencing this quintessential Mexican holiday in Patzcuaro, Michoacan. It was beautiful, spiritual and very moving. 

Tucson's All Souls Procession had to be cancelled like everything else this year, so we went to the Tucson Botanical Gardens to see the eight-foot tall catrinas. We wore calavera pandemic masks. 

Earnest Money Deposits in New Mexico

I am working on getting licensed to sell real estate in New Mexico, and I have learned some surprising things about how houses are sold in the Land of Enchantment. 

In the Grand Canyon State, if the Arizona Association of Realtors Purchase Agreement is used, when a buyer's offer is accepted on a property, the buyer deposits refundable earnest money, usually 1% of the sale price, with an escrow company. The Arizona buyer has several opportunities to cancel their purchase contract and get their earnest money deposit returned. 

1) The buyer has an inspection period, typically 10 days, and if they "reasonably disapprove" of anything about the property after doing the inspection period, they can cancel the purchase contract and get their earnest money refunded. 

2) If the seller won't make the repairs the buyer requests, the buyer can cancel the contract within five days of receiving the seller's response to the buyer's request for repairs.

3) If the buyer doesn't approve of information in the title report or the homeowner association disclosure, the buyer can cancel the contract within five days of the receipt of the unacceptable information. 

4) If the property doesn't appraise for the contract price, and the seller won't reduce the sale price to the appraised price, the buyer can cancel the contract. If the buyer is getting a mortgage, his lender won't let him pay more than the appraised price, and the buyer has no choice but to cancel the contract if the seller won't reduce the price. 

5) If the buyer notifies the seller no fewer than three days before close of escrow that they are unable to get a mortgage on the terms specified in the purchase contract, the buyer can cancel the contract. 

In all these cases, the buyer notifies the escrow company and the seller that they are cancelling the purchase contract, and if the notice to the escrow company is given within the time frames specified in the contract, the escrow company refunds the buyer's earnest money. The seller has no say in the matter, which is as it should be, because he agreed to all these cancellation contingencies when he accepted the offer. 

In New Mexico, if the buyer wants to cancel the contract because of one of the conditions above, which are all allowed in the New Mexico Purchase Agreement, the buyer still needs to get the seller's permission to cancel the contract. If the seller won't sign the cancellation agreement, the escrow company has to hold the earnest money until the buyer and seller work things out. The seller can put the house back on the market and accept a purchase contract from another buyer while holding on to the first buyer's earnest money. The second buyer has to use a different escrow company, one that's not holding the earnest money. Whether the seller has to disclose to buyer #2 that the seller is in a dispute over earnest money with buyer #1 is another question I couldn't get answered in my class. 

The escrow company sometimes bears the cost of the earnest money battle. If the buyer and seller can't agree on who is entitled to the earnest money, eventually the escrow company needs to get the earnest money off their books, and they will release the funds to the state's unclaimed funds account. Everyone loses. 

Rather than just authorizing the escrow company to release earnest money in accordance with the Purchase Agreement that the seller signed, the New Mexico Real Estate Commission invented the Time Off Market (TOM) Fee. This is a small, $50 to $350 non-refundable deposit paid directly to the seller by the buyer when the buyer's offer is accepted. The seller keeps the TOM fee regardless of whether the buyer buys the house or cancels the contract. 

The buyer and seller can negotiate when or if earnest money will be deposited. They might wait until the inspection, financing, title and homeowner contingencies have been met. But a Silver City broker I talked to said earnest money is usually only $500 to $1,000, which doesn't seem to me like enough money to justify a legal dispute. 

The Jewel Box

Stunningly beautiful. Rarely will you find such attention to detail as the owner has put into this little jewel box of a home. 

Living room ceiling was opened to create a cathedral effect. Kitchen wall was widened to living room. Saltillo-look porcelain tile throughout. Custom-made cabinets in kitchen and bath. Concrete counter tops, new stainless appliances and a gorgeous wall of green tile in the completely redesigned cook's heaven. 

New French doors, plank ceiling, laundry cabinet with new stacking washer and dryer in the dining room. 

Hall has raised ceiling, restored built-in cabinet and new sky light. Walk-in closets in both bedrooms. 

Enormous yard with mature mesquite is enclosed by attractive rusted corrugated fence and block wall. Gas pak/AC new in 2020. Evaporative cooler new in 2018. Two bedrooms, one bath, 971 square feet. The floor plan is here.

We put this house on the market on a Thursday and allowed agents to schedule showings at 30 minute intervals on Saturday. We received three offers at or above the list price. We accepted an offer for $15,000 above the list price. We found that this method maximized the market exposure for the house and motivated the buyers to make aggressive offers. We minimized the number of people in the house at any one time, which in important when selling a house in the time of coronavirus. This was also convenient for the seller, who only had to leave the house for one three-hour period during the compressed showing schedule. 

Sold for $235,000 on September 4, 2020. 

Eden Roc Rocks!

Extremely rare first floor Central Tucson condo with private yard and GARAGE! Vintage masonry Mid-Century Modern design by Swaim and Cook Architects. 

Lush Mediterranean landscaping. Just one block from Reid Park Community Center and Randolph Golf Course. Tucked away in one of the best locations in Eden Roc Gardens, adjacent to the common area and away from the hustle and bustle. 

Listen to the birds and the tranquil burbling of the tiki fountain under the orange tree on your secluded patio. Spacious rooms with natural light. Check out the floor plan here.

Lots of storage. Almost everything in the condo can be conveyed by separate bill of sale. Has been a great turn-key vacation home. 

Rolling shutters keep it secure while you're away. $5,000 special assessment has been paid. This is the home you've been seeking at a bargain price. Sold September 11, 2020 for $150,000. 

Affordable Home in Desirable Starr Pass

Spotlessly clean, well-maintained home, ready for you to move in. Split floor plan could provide two master suites. The den could become a third bedroom with the addition of a closet. Check the floor plan for the possibilities. 

Great room has abundant natural light from north-facing windows and the skylight in the kitchen. Master bedroom has walk-in closet plus second closet. Washer and dryer in laundry room. 

Backs to common area filled with mesquite trees for privacy and bird watching. Covered patio with brick floor. Mature desert landscaping. Great location near Starr Pass Resort in the Tucson Mountains, yet only 10 minutes from downtown. Close to miles of gorgeous hiking and biking trails. Surrounded by much more expensive homes. Easy access to I-10 and airport. Great opportunity. Sold April 28, 2020 for $265,000. 

Three Generations Lived Here

Fabulous home for multiple generations to enjoy together. 

Master suite in the west wing has its own living room with fireplace and private entrance. 

In the east wing you will find the second master bedroom with ensuite bath plus two more bedrooms and guest bath. Wonderful floor plan. 

Remodeled kitchen and baths with granite counters and stainless appliances. Ceramic tile in all rooms except carpeted bedrooms. Rare in central Tucson: a two car garage! 

Huge yard with children's slide set and storage shed. Water harvesting and covered back porch. Solid brick construction in excellent location. Only two blocks from Beyond Bread, Bookman's, Trader Joe's, banks and buses. Sold for $300,00 on March 25, 2020

1415 E Seneca St

I have owned this sweet little University-area home since 1995. I invested almost $25,000 in 2016 in flooring, new kitchen, plumbing, electrical, fence, HVAC and painting.

Only four blocks to University Medical Center. Its desirable Jefferson Park location can't be beat. This little two bedroom, one bath house is like a mountain cabin with its high, open beamed ceilings and wood paneling. Ceramic Saltillo look-alike tile throughout. 

The operative word is little. At only 750 square feet, it is tiny, but my tenants happily stay for years because of the comfort and convenience of living here. The floor plan is here. 

I really got carried away with the bathroom. Adorable hand painted Talavera tile in the shower. Beautiful calla lily ceramic mirror. Too cute.

The sweet new kitchen has a dishwasher, gas stove, microwave and refrigerator. 14 SEER air conditioner and gas furnace were installed in June 2016. Ceiling fans in kitchen, living room and bedrooms. 

There is a new metal shed on the back patio with washer and dryer. Grey water goes to the gorgeous mesquite. New corrugated metal fence on west side of the fully enclosed back yard.

Gigantic yard. You can use about 60 square feet of the storage shed. 

In preparation for my retirement, I sold this little jewel box in 2021. I was very sad to see that a developer tore out my cute improvements and mature trees to expand the house and make it look like a 1990s subdivision house. Grey and white.