This story just came out about AMREP (the largest land owner and developer of Rio rancho) and how their sales are down. This is no surprise to anyone trying to sell vacant land in Rio Rancho lately. We have seen substantial declines in the rate of closed sales. Bad news for sellers but great news for buyers.
Amrep 4Q profit plunges as N.M. land sales plummet: "Amrep Corp. on Monday posted a 92-percent drop in fiscal fourth-quarter profit, reflecting plummeting land sales at its Rio Rancho development in New Mexico." More... http://www.abqjournal.com/news/state/apamrep07-15-08.htm?jsbottom
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