100 best places to live and launch - 83. Rio Rancho, N.M. (83) - FORTUNE Small Business: "Fans of warm weather flock to Rio Rancho, which boasts average temperatures of about 70 degrees in the spring and fall, in addition to scenic mountain trails. Nearby Albuquerque and Santa Fe offer a wealth of cultural opportunities. But Rio Rancho has its own attractions,"
Albuquerque Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Sunday, March 30, 2008
Friday, March 21, 2008
Chamiza Estates gets state money for flood control
The Observer Online: "The Southern Sandoval County Arroyo Flood Control Authority received $332,000 for a drainage improvement project in the Chamiza Estates area in northern Rio Rancho.
Chamiza Estates, like several other areas in the northern part of the city, suffered severe flood damage in 2006 from the monsoon-like downpour."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Chamiza Estates, like several other areas in the northern part of the city, suffered severe flood damage in 2006 from the monsoon-like downpour."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
ABQ and Rio Rancho plan on working together
KOB.com - ABQ and Rio Rancho plan on working together: "The mayors of Albuquerque and Rio Rancho have big plans to work together on projects and problems in the two cities.
Thursday Albuquerque Mayor Martin Chavez and newly elected Rio Rancho Mayor Tom Swisstack announced that the two cities will start regularly meeting.
The idea is to develop plans for challenges that face the two cities.
Transportation is a huge issue that the mayors plan to tackle"
Albuquerque Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Thursday Albuquerque Mayor Martin Chavez and newly elected Rio Rancho Mayor Tom Swisstack announced that the two cities will start regularly meeting.
The idea is to develop plans for challenges that face the two cities.
Transportation is a huge issue that the mayors plan to tackle"
Albuquerque Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Wednesday, March 19, 2008
Albuquerque and Rio Rancho Real Estate Activity Update
Here is a rundown of what we see happening in the Albuquerque Real Estate Market.
New home builders such as Pulte, Centex & DR Horton have been aggressive in moving inventory and have been offering large incentives to buyers. These new home sales are generally not listed in our Multiple Listing Service (MLS) database so these numbers aren't reflected very well in the statistics but from what we have seen, they were doing whatever they need to do to get through the slower time. It seems as though they were successful and sold their 'already built' inventory homes. So now… most of these new home builders are out of inventory and are quoting 7-9 months build time. It seems the only homes in inventory are ones that were started for a client who later cancelled. Recently we have seen some of these builders raise prices, reduce incentives and/or change standard features. Due to the nature of our available land, most of these new homes are located on the Westside, Southwest, and Rio Rancho.
Speaking of those Westside and Rio Rancho locations, the new home sales seem to have slowed the re-sale homes in these areas. Buyers are comparing a re-sale home with new and finding the prices similar with the new homes often winning out for the buyer. Re-sale homes need to be priced competitively and be in great condition. But…with the changes mentioned above in new home availability, incentives, and build times, the re-sale market should fare better in the coming months.
Also helping propel home sales are the favorable interest rates we continue to have (and look to have through the summer). We expect with the just released news from Fannie Mae & Freddie Mac, more money will be flowing into the mortgage market and should bring mortgage rates down. On a side note… you may also want to look into re-financing your current mortgage in the next few months if rates continue to drop. The general rule of thumb is to re-finance if the rate will be 1% less than your current mortgage rate. We can recommend lenders if you'd like to talk with someone about re-financing your mortgage.
Here are some of the stats we've been following:
Residential Properties: Currently there are 5941 homes for sale in the metro area. There are 1174 pending closings and 1299 closed since January 1, 2008. The simple calculation of these numbers equates to a 6.5 month inventory of homes based on the selling pace since the first of the year. We know that the next few months are the busiest months of the year for home sales and based on the level of activity we're experiencing, we have no doubt that our market will be fairly strong.
Rio Rancho Vacant Land: There are 3506 active land listings with 28 pending sale and 65 closings so far this year and 615 in the past year. In 2006 there were 1750 land sales in Rio Rancho so the drop in sales is quite significant. We've also seen a steady decline in list and sales prices for Rio Rancho land. Rio Rancho continues to have many exciting development plans and we expect the pace of lot sales to pick up this summer. Rio Rancho just elected a new Mayor and it looks like he will do a good job moving Rio Rancho forward. There is a Land Auction for some large parcels of land in Rio Rancho and it should generate quite a bit of “buzz”. We went to a recent Sandoval County land auction and found that some lots went for good prices, while others sold for more than current value.
To wrap it up...our market for homes is quite strong, especially when compared with many parts of the Country. The number of homes on the market has come down and the pace of sales has increased.
As always, we appreciate your business.
All the best,
Tracy & Tego Venturi
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
New home builders such as Pulte, Centex & DR Horton have been aggressive in moving inventory and have been offering large incentives to buyers. These new home sales are generally not listed in our Multiple Listing Service (MLS) database so these numbers aren't reflected very well in the statistics but from what we have seen, they were doing whatever they need to do to get through the slower time. It seems as though they were successful and sold their 'already built' inventory homes. So now… most of these new home builders are out of inventory and are quoting 7-9 months build time. It seems the only homes in inventory are ones that were started for a client who later cancelled. Recently we have seen some of these builders raise prices, reduce incentives and/or change standard features. Due to the nature of our available land, most of these new homes are located on the Westside, Southwest, and Rio Rancho.
Speaking of those Westside and Rio Rancho locations, the new home sales seem to have slowed the re-sale homes in these areas. Buyers are comparing a re-sale home with new and finding the prices similar with the new homes often winning out for the buyer. Re-sale homes need to be priced competitively and be in great condition. But…with the changes mentioned above in new home availability, incentives, and build times, the re-sale market should fare better in the coming months.
Also helping propel home sales are the favorable interest rates we continue to have (and look to have through the summer). We expect with the just released news from Fannie Mae & Freddie Mac, more money will be flowing into the mortgage market and should bring mortgage rates down. On a side note… you may also want to look into re-financing your current mortgage in the next few months if rates continue to drop. The general rule of thumb is to re-finance if the rate will be 1% less than your current mortgage rate. We can recommend lenders if you'd like to talk with someone about re-financing your mortgage.
Here are some of the stats we've been following:
Residential Properties: Currently there are 5941 homes for sale in the metro area. There are 1174 pending closings and 1299 closed since January 1, 2008. The simple calculation of these numbers equates to a 6.5 month inventory of homes based on the selling pace since the first of the year. We know that the next few months are the busiest months of the year for home sales and based on the level of activity we're experiencing, we have no doubt that our market will be fairly strong.
Rio Rancho Vacant Land: There are 3506 active land listings with 28 pending sale and 65 closings so far this year and 615 in the past year. In 2006 there were 1750 land sales in Rio Rancho so the drop in sales is quite significant. We've also seen a steady decline in list and sales prices for Rio Rancho land. Rio Rancho continues to have many exciting development plans and we expect the pace of lot sales to pick up this summer. Rio Rancho just elected a new Mayor and it looks like he will do a good job moving Rio Rancho forward. There is a Land Auction for some large parcels of land in Rio Rancho and it should generate quite a bit of “buzz”. We went to a recent Sandoval County land auction and found that some lots went for good prices, while others sold for more than current value.
To wrap it up...our market for homes is quite strong, especially when compared with many parts of the Country. The number of homes on the market has come down and the pace of sales has increased.
As always, we appreciate your business.
All the best,
Tracy & Tego Venturi
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Tuesday, March 18, 2008
SAD 7 opposition group seeking legal counsel
The Observer Online: "The City of Rio Rancho could be facing a lawsuit if a SAD 7 opposition group does not see changes in the proposed drainage improvement plan.
Special Assessment District 7 Citizens Action Group chairman Michael MacDonald told the city council at Wednesday’s meeting that the group is seeking legal counsel."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Special Assessment District 7 Citizens Action Group chairman Michael MacDonald told the city council at Wednesday’s meeting that the group is seeking legal counsel."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Loma Colorado hosts sportsplex dam dedication
Loma Colorado hosts sportsplex dam dedication - New Mexico Business Weekly:: "A dedication ceremony for the Montoyas Arroyo Sportsplex Dam at Loma Colorado in Rio Rancho is scheduled for March 21, at noon.
Ground was broken on the dam, which is adjacent to the Rio Rancho Sports Complex, in August 2006. It was designed to hold 100 million gallons of water. A dedication ceremony for the Montoyas Arroyo Sportsplex Dam at Loma Colorado in Rio Rancho is scheduled for March 21, at noon.
Ground was broken on the dam, which is adjacent to the Rio Rancho Sports Complex, in August 2006. It was designed to hold 100 million gallons of water."
Albuquerque Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Ground was broken on the dam, which is adjacent to the Rio Rancho Sports Complex, in August 2006. It was designed to hold 100 million gallons of water. A dedication ceremony for the Montoyas Arroyo Sportsplex Dam at Loma Colorado in Rio Rancho is scheduled for March 21, at noon.
Ground was broken on the dam, which is adjacent to the Rio Rancho Sports Complex, in August 2006. It was designed to hold 100 million gallons of water."
Albuquerque Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Sunday, March 16, 2008
Rio Rancho Downtown-Area Land for Auction
It's exciting to be quoted in the paper!
ABQjournal West_News: Downtown-Area Land for Auction: "Prices for land in the area vary greatly, said Tracy Venturi, a Realtor with Keller Williams Realty.
She quoted a couple of sales in mid-2007 where half-acre lots near Progress and Unser sold for $35,000 each. She said prices have fallen since then, but lots with potential for commercial development are still commanding much higher prices."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
ABQjournal West_News: Downtown-Area Land for Auction: "Prices for land in the area vary greatly, said Tracy Venturi, a Realtor with Keller Williams Realty.
She quoted a couple of sales in mid-2007 where half-acre lots near Progress and Unser sold for $35,000 each. She said prices have fallen since then, but lots with potential for commercial development are still commanding much higher prices."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Saturday, March 15, 2008
Presbyterian Going Green in Rio Rancho
ABQjournal West_News: Presbyterian Going Green in Rio Rancho: "Presbyterian Healthcare plans to incorporate green building principles to help reduce water consumption in the hospital it will build in Rio Rancho near the Bernalillo County line.
Presbyterian plans to open a full-scale hospital near Unser and Westside Boulevard by 2010 to meet growing demand in the area."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Presbyterian plans to open a full-scale hospital near Unser and Westside Boulevard by 2010 to meet growing demand in the area."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Rio Rancho Residents Appeal Rezoning
ABQjournal West_News: Residents Appeal Rezoning: "Residents of a high-end northern Rio Rancho neighborhood are furious about a City Council rezoning decision they say will hurt their property values and quality of life.
The group from the Vista Entrada subdivision filed an appeal Wednesday in Sandoval County's 13th Judicial District Court against the council's action, which rezoned nine acres in the 69-acre La Plazuela de Sandoval master-planned development near N.M. 528 and Idalia."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
The group from the Vista Entrada subdivision filed an appeal Wednesday in Sandoval County's 13th Judicial District Court against the council's action, which rezoned nine acres in the 69-acre La Plazuela de Sandoval master-planned development near N.M. 528 and Idalia."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Rio Rancho Land Auction coming April 12.
the Rio Rancho Land Auction Rio Rancho Land Auction
Rio Rancho Land Auction Rio Rancho Land Auction.
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Rio Rancho Land Auction Rio Rancho Land Auction.
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Wednesday, March 12, 2008
Rio Rancho Gets Smaller Slice of Pork
ABQjournal West_News: Rio Rancho Gets Smaller Slice of Pork: "Rio Rancho's share of the legislative pork pie was considerably slimmer than expected.
The city secured just under $1.7 million in capital improvements funds— often called pork— from the 2008 Legislative session.
City leaders put together a wish list last fall with more than $28 million in capital requests."
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
The city secured just under $1.7 million in capital improvements funds— often called pork— from the 2008 Legislative session.
City leaders put together a wish list last fall with more than $28 million in capital requests."
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Runoff Election Information
The Official Site of Rio Rancho, NM: "Pending approval by the Rio Rancho Governing Body at their March 12, 2008 meeting, a runoff election between the top 2 vote-getters for the District 6 City Council seat will be held on April 15, 2008.
The runoff is being held because neither of the top 2 candidates from the March 4, 2008 municipal election garnered more than 50% of the total votes cast. Kathleen M. Colley finished first out of 5 candidates and received 672 votes or 32%. Incumbent Marilyn Salzman was second and received 632 votes or 30%."
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
The runoff is being held because neither of the top 2 candidates from the March 4, 2008 municipal election garnered more than 50% of the total votes cast. Kathleen M. Colley finished first out of 5 candidates and received 672 votes or 32%. Incumbent Marilyn Salzman was second and received 632 votes or 30%."
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Monday, March 10, 2008
Swisstack Has Ideas for RR
ABQjournal West_News: Swisstack Has Ideas for RR: "Rio Rancho's newly elected mayor is bursting with ideas and ready to initiate change at a pace that might make the winds of change feel like a gale through City Hall.
Mayor-elect Thomas Swisstack is ready to brainstorm with city employees, galvanize city councilors and reach out to residents to get them involved in his vision for the city's future."
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Mayor-elect Thomas Swisstack is ready to brainstorm with city employees, galvanize city councilors and reach out to residents to get them involved in his vision for the city's future."
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Saturday, March 8, 2008
Swearing-in Ceremony
On Monday, March 10, 2008, the City of Rio Rancho will conduct a Swearing-in Ceremony for recently elected municipal officials. The ceremony will take place at 6:00 p.m. at Chamisa Hills Country Club.
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Thursday, March 6, 2008
Voters Approve Tax For UNM
ABQjournal West_News: Voters Approve Tax For UNM: "Voters in Rio Rancho said yes Tuesday to a quarter-cent tax increase to help bring a University of New Mexico campus to the city, according to unofficial results.
The tax will add 25 cents to the price of a $100 item purchased in Rio Rancho starting July 1. It will sunset, or expire, after 20 years.
UNM President David Schmidly has said the tax could bring in $20 million over the 20-year period. UNM has already purchased more than 200 acres near the City Centre to build its Rio Rancho school."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
The tax will add 25 cents to the price of a $100 item purchased in Rio Rancho starting July 1. It will sunset, or expire, after 20 years.
UNM President David Schmidly has said the tax could bring in $20 million over the 20-year period. UNM has already purchased more than 200 acres near the City Centre to build its Rio Rancho school."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
State Still Plans to Fine RR
ABQjournal Business: State Still Plans to Fine RR: "The state Environment Department is pushing ahead with enforcement action against the city of Rio Rancho that could result in heavy fines for permit violations related to water used at Chamisa Hills Golf and Country Club."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Wednesday, March 5, 2008
Rio Rancho backs Swisstack, university tax
KRQE - Albuquerque, New Mexico - News, Video, Weather Forecast, Sports, Community, Health, Homes KBIM - KREZ Rio Rancho backs Swisstack, university tax: "RIO RANCHO, N. M. (KRQE) - A landslide victory swept a former Rio Rancho mayor back into office tonight as voters also endorse a higher-education tax for their city."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Swisstack returns to Rio Rancho mayor's office
KOB.com - Swisstack returns to Rio Rancho mayor's office: "Rio Rancho voters decided after recent scandals in City Hall, they wanted a mayor who had been there before.
They elected Thomas Swisstack Tuesday night. Swisstack had served as mayor ten years ago."
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
They elected Thomas Swisstack Tuesday night. Swisstack had served as mayor ten years ago."
Albuquerque NM Real Estate
Rio Rancho Land
Albuquerque Real Estate News
Saturday, March 1, 2008
State to RR: Plan Or Fine
ABQjournal West_News: State to RR: Plan Or Fine: "The state Environment Department has given the city of Rio Rancho until the end of March to produce a cleanup plan for Chamisa Hills Golf and Country Club or pay a nearly $580,000 fine."
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
Albuquerque NM Real Estate
Rio Rancho Real Estate Blog
Albuquerque Real Estate Blog
State Still Intends to Fine RR for Violations
ABQjournal West_News: State Still Intends to Fine RR for Violations: "The state Environment Department is pushing ahead with enforcement action against the city of Rio Rancho that could result in heavy fines for permit violations related to water used at Chamisa Hills Golf and Country Club."
Albuquerque Real Estate
Rio Rancho Real Estate News
Albuquerque Real Estate News
Albuquerque Real Estate
Rio Rancho Real Estate News
Albuquerque Real Estate News
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