I visited Taos almost thirty years ago and stayed when I learned what a great place it was. When I decided to settle down, the real estate seemed expensive. In reality it was more reasonable than what I’d left in California. In the last five years we’ve experienced a similar price appreciation to what we experienced in the 1970’s. And yet, if you compare Taos to other small towns in the Rocky Mountain region that have similar recreational and cultural activities, Taos still seems undervalued. As long as that imbalance remains we all have an opportunity to profit.