OK, now tell me about Albequerque, NM

[Groesbeck Hurricane]

OK, company still playing the relocation game.

They have thrown a new possible city on the table and it's Albuquerque, NM. What can yall tell us about that? Again, we would be looking for about 10 to 30 acres and we could build the house on the land or find a decent house already built. We have horses and like the outdoors. I like the idea of forest, desert, mountains all close together. But again we have turned down San Francisco and are rather cold on New Jersey or other NE areas due to costs involved with property.

Again, thanks in advance!!

[dd74]

You get twice the buzz from a margerita because of the altitude.

Supposedly, land is pretty pricey there...

[slodave]

It's a nice place. I'd rather be relocated to Santa Fe, but at least you can drive there (SF) and can also go to Taos for some great skiing.

[motion]

I know the market in Albquerque quite well, as I have been investing there for several months. RE is on fire currently, and prices are escalating quickly. You can, however find lots of land outside of town... say 30-60 minute drive from town. Prices are not that bad. Lemme know if you need a good realtor - mine is excellent.

[dd74]

Richard - is Albequerque getting larger? I mean, are many people moving into the city? Are track home communities being built?

[motion]

Originally posted by dd74
Richard - is Albequerque getting larger? I mean, are many people moving into the city? Are track home communities being built?

Yes, like crazy. All sides of town are exploding outward. All the major builders are there. No investor purchases allowed, which is a good sign of strong new home sales and optimism.

[dd74]

Originally posted by motion
Yes, like crazy. All sides of town are exploding outward. All the major builders are there. No investor purchases allowed, which is a good sign of strong new home sales and optimism.

Just curious: what have you invested in? Single-family dwellings? Or part of a real estate group building track homes?

[vash]

i love you guys. so far, i dont think anyone has spell albuquerque correctly! i cheated, i yahooed it. but i effen love that place. i used to visit all the time, and the town has a real outdoorsy feel. i have to admit i did see 10 drunk guys get in a fight over the last budweiser, but it was fun. i ended it by giving them the rest of our 12 pack. my bro and i were on a bass fishing tour. the town is cool, but a bit sleepy. i remember housing on the cheap side. and no smog nazis!

sante fe is a hop skip and a jump away. i am looking for land there with my siblings.

[cool_chick]

vash, this is how I remember it

albu que r que

the pattern.....

And Albuquerque is an awesome city.

[motion]

Originally posted by dd74
Just curious: what have you invested in? Single-family dwellings? Or part of a real estate group building track homes?

I'm buying all 2-5 year old 3/2 SFR. Close as possible to freeway access. Easy commute to downtown. Just little 1300-1600 sq ft tract homes, but they are performing extremely well.

However.... with 20% down payment, you can no longer buy a house and cash flow as a rental. Not even close. Those days ended about 4-5 months ago. Rents are depressed right now. My houses are renting for $825-900 a month. 2 years ago, they would have rented for $1000 a month. I'm hoping that once things slow down to a rational growth level the rental market will rebound and rents will start creeping back up.

[M.D. Holloway]

Hot Air Ballons, gotta luv'm if you move there.

[Groesbeck Hurricane]

And corrected my spelling!

Good information, any and all information is appreciated.

[vash]

oh yes. i forgot about the balloon festival.

[Jim Richards]

ALb. is pretty nice. My brothers moved there from the great white north. They love it. I'm happy being a visitor. I like the color green much more than brown.

[dd74]

I can't spell Alburquerque or tract homes - as you'll see.

I just finished up figuring out "guarantee" and "restuarant" a few months ago.

Some words and names just seem to get to me...

P.S.: thanks for the information, Richard.

[gaijindabe]

1/2 the cars on the road in NM carry no insurance. Get uninsured and under-insured coverage.

[Rick Lee]

I was just there in Jan. and was interested in scoping it out as a possible place to live. No thanks. There's not much there. Driving through NM is gorgeous and I love the desert and I hate people. But I need some stuff nearby and ALB didn't have much.

[RKC]

Going back to Santa Fe for the umpteenth time next week. Been to Albuquerque just once - but got a nice feeling. It is a "real" town, rather than the resort/tourist type place like Santa Fe or Taos. It's booming too - story last week in USA Today http://www.usatoday.com/travel/destinations/2006-04-13-albuquerque_x.htm

[Rich76_911s]

I live relatively close to Abq. I really don't like it that much. Property values have gone through the roof, traffic is congested, everything is brown, the houses, the highways, the ground, the mountains, but the sky is almost always blue. But I will admit that I have not stayed and spent a lot of time there usually it is a drive to the airport (which YES is brown), a quick bite to eat, and a drive back home.

If you go you should drive north to Chaco Canyon. It is the best indian ruins that I have ever been to. The ruins are so far out of the way that hardly anyone gets there so they have not limited access to the insides of the ruins ect. You can even still find pot shards on the ground, although it is illegal to take them 500 dollar charge or so. Really neat place.

Rich

[motion]

Albuquerque isn't the most beautiful place in the world. But it is in the West. It has good weather most of the year. Plenty of outdoor opportunities. And, you can buy a nice 3/2 house for $150k still. Where else can you get something like this? Better hurry.... won't last long