| Venturi Team's Albuquerque Real Estate Blog
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Wednesday, July 30, 2008
About Rio Rancho New Mexico
Considering its beginnings, Rio Rancho has come a long way. Now a "City of Vision" they are delivering on the goods. At one time considered a land scam, Rio Rancho has really done well for itself. Buildings in Rio Rancho are generally less than 40 years old - an anomaly in New Mexico with rich culture and a long history. The people who live in Rio Rancho have chosen to live here and in the last few years Rio Rancho, dubbed “The City of Vision”, has seen phenomenal growth. Between 1961 (the year I was born) and 1977, AMREP sold more than 75,000 lots in “Rio Rancho Estates” to thousands of people in other parts of the country. In 1970, Rio Rancho welcomed their 500th family's move to town, and built the Rio Rancho Golf and Country Club. In the early '80's, they recognized the need for employers and established an economic development department and began working to recruit businesses and industries. They were fortunate to entice Intel Corporation into building a Fab in 1981 - a homerun! It's not just my opinion that Intel Corporation had a major economic impact on the City and propelled it forward. I was also fortunate to work for Intel Corporation for a few years in recruiting, so I know first hand what a wonderful community partner they have been and continue to be to Rio Rancho. Currently, Rio Rancho is reported to have almost 80,000 residents and growing quickly --- expecting to be at 125,000 by 2010 (!). ...ahhh, which leads me to say, there's plenty of investment opportunity in Rio Rancho and in Rio Rancho Land in particular. Rio Rancho made a decision to build a "Downtown" and chose a parcel of Real Estate in the middle of Rio Rancho. Out of the ground sprouted a first class Event Center (by far the nicest arena in New Mexico) where The New Mexico Scorpions Hockey team plays. Opened in late 2006, they are now booking many touring productions, sporting events, concerts, and community events. Next door the new Rio Rancho City Hall is located along with an already fully leased office building. Rio Rancho has done extremely well planning and executing their new downtown and has attracted major employers as well as an area where The University of New Mexico and the Central New Mexico Community College have committed to build campuses. The University of New Mexico campus is scheduled to have 12,000 students so I project student housing, fun shops and retail will follow. One of the more exciting companies that will be in this area is Lionsgate Entertainment. They are building a movie studio since New Mexico has such a fantastic climate and acceptance of the movie industry. Watch for me on the big screen, I had the opportunity to be an extra in a film that was shot here last year. Also in the works is a “Main Street” so they will truly have a downtown. Rio Rancho Homes are still among the most affordable in the Albuquerque metropolitan area but have changed quite a bit in just the last few years. AMREP built almost exclusively for many years. Now, you'll find many developments from leading local, regional, and national home builders -but also many custom homes on 1/2+ acre parcels. There are many opportunities for finding just what you're looking for in Rio Rancho from tradition style homes to Southwestern motif. Rio Rancho is a young and growing community that is moving toward being the most visionary city in New Mexico and with Rio Rancho Land being plentiful, I expect the growth to continue for many years. Visit our Rio Rancho Real Estate website for Albuquerque area homes search and listings.
Monday, July 28, 2008
Home Inspection - Is it Really Necessary?: "Yes it is true that buying a home is expensive. The house price alone can take your breath at times when you are contemplating that new payment each month. But then there are all these other little charges for things like home inspections, well tests, bug tests, earnest money, loan origination fee, escrow, title fees, etc. It is natural to want to try and find where you can cut costs. The home inspection is one service that buyers often consider skipping to save money. Is this a good idea?" Visit our Albuquerque Real Estate website for Albuquerque area homes search and listings.
30-Year Avg: 6.63 , 30-Year Pt: 0.6 , 15-Year Avg: 6.18 , 15-Year Pt: 0.6 , 5/1-Year Avg: 6.16 , 5/1-Year Pt: 0.7 , 1-Year Adj: 5.49 , 1-Year Pt: 0.5 Freddie Mac's Primary Market Mortgage Survey: "Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.63 percent with an average 0.6 point for the week ending July 24, 2008, up from last week when it averaged 6.26 percent. Last year at this time, the 30-year FRM averaged 6.69 percent.
The 15-year FRM this week averaged 6.18 percent with an average 0.6 point, up from last week when it averaged 5.78 percent. A year ago at this time, the 15-year FRM averaged 6.37 percent."
Visit our Albuquerque Real Estate website for Albuquerque area homes search and listings.
KOB.com - New aquifer discovered on West Mesa: "A new potential source of water for the Albuquerque metro has been discovered under the West Mesa." Visit our supersite for more information on Rio Rancho Homes for sale and to search for homes and land in Albuquerque and Rio Rancho.
Monday, July 21, 2008
Meeting - Near Heights Metropolitan Redevelopment Area Expansion - Official City NewsPUBLIC NOTICE The City of Albuquerque Metropolitan Redevelopment Agency Invites You To Attend the Second Citizen Action Team (CAT) Meeting Regarding The Near Heights Metropolitan Redevelopment Area Expansion Plan Wilson Middle School Library 1138 Cardenas SE Albuquerque, NM 87108 (Corner of San Pedro Dr. and Ross Ave.) Tuesday, July 22, 2008 from 6 to 7 pm Visit our Albuquerque Real Estate website for Albuquerque area homes search and listings.
AAA Travel Professionals Say Travelers Adjust Plans in Response to Rising Gas Prices: "Domestic 'hot spots' for this summer include: New Mexico; San Antonio, Texas; Albuquerque, New Mexico; Oregon; and Miami/South Beach." AAA travel agency managers say Albuquerque and the state of New Mexico are "hot spot" destinations this summer. A recent survey of the managers indicated that the top domestic vacation destinations were Orlando, Las Vegas, New York, Los Angeles and Washington, D.C., with Albuquerque, San Antonio, Texas, Miami/South Beach, the state of New Mexico and the state of Oregon noted as "hot spots." Visit our supersite for more information on Albuquerque Homes for sale and to search for homes and land in Albuquerque and Rio Rancho.
Saturday, July 19, 2008
Cuesta Al Este Plan Near Rio Rancho City Centre Gets Approval
 A 115 acre area of Unit 13 has received approval of a residential neighborhood plan called Cuesta Al Este. The site is south of the Rio Rancho City Centre in an area that has many development projects in the works. The plan consists of 491 home sites surrounding centralized neighborhood park and a network of walking trails. The plan also shows a neighborhood clubhouse, open space set asides, and a dog park. There is no indication of the timeframe for the build out of this project. News : Cuesta Al Este Master Plan approved by city council - Rio Rancho Observer: "The Rio Rancho city council approved the Cuesta Al Este Master Plan and amended the Preferred Growth Scenario Map, which is under the umbrella of the City of Rio Rancho’s Vision 2020 Integrated Comprehensive Plan." Visit our Rio Rancho Real Estate website for Rio Rancho area homes search and listings. Labels: Rio Rancho
Thursday, July 17, 2008
The slow housing market does not stop long term planning... The Lower Petroglyphs development is already moving forward but much larger developments are coming. Suncal owns 55000 acres of land on Albuquerques westside and has a 50 year build out plan. Suncal promises not to follow the normal urban sprawl we have seen in past years and plans to develop the area using the " New Urbanism" model. From the Suncal NM website... "SunCal Companies recognizes there has been no greater opportunity to revive the spirit of this historic concept than at the site of the Atrisco Land Grant. Today, our goal is to couple your feedback with these core urban planning principles to create a remarkable new place that will foster a unique sense of community and belonging that is absent in many modern-day neighborhoods."
Story from the New Mexico Business Weekly. SunCal unveils plans for its Westside 'legacy development' - New Mexico Business Weekly:: "SunCal's massive master-planned community on Albuquerque's west mesa is on track, and the developer's pockets are deep enough to weather the downturn in the economy and home sales" Visit our Albuquerque Real Estate website for area homes and to search listings. Labels: Albuquerque Development, Westside
La Plazuela de Sandoval Complex in Bernalillo / Rio Rancho
We recently listed a home in the Vista Entrada Neighborhood of Rio Rancho. The Vista Entrada Subdivision is adjacent to a 69 Acre site that is being developed as a mixed use complex named La Plazuela de Sandoval. Since some of the details are hard to find I have put together the following summary of the Master Plan (based on all the information I have). The site is located at the Northwest corner of NM 528 and Idalia Roads. The site will have a new North South route off Idalia that will serve as an additional entry/exit to the Enchanted Hills Neighborhood to the north. Also Oersted Road will extend to the east into the plan area.  Currently the site is home of the $9.3 million Sandoval County Judicial Complex that opened in August 2005. The 45,699 sq/ft complex is home to the Sandoval County District Court, the Sandoval County Sheriff's Department, and the District Attorney's office. Just north of the Judicial Complex is the Health Commons. This houses Family Services, Community Health, and Sandoval County’s Medical Assistance Program. A 60,000 sq/ft County Administrative Center is also planned for this area. North of this is the Transportation Center with Park-n-Ride and shuttle but to the RailRunner Station in Bernalillo.  Future development plans include the Cielo Azul Retirement Community. This is a planned to contain 257 apartments and assisted living units. The La Plazuela master plan includes a site for High Density Housing. This would be in accordance with Rio Rancho’s R-6 zoning that allows up to 32 dwelling units per acre. I have not seen any plans for what this could look like. The site also includes areas set aside for Office Space and Commercial Uses such as retail shops, restaurants, bank, church and such. No industrial or manufacturing type operations would be allowed.  The layout looks to be pedestrian friendly and has some open space areas and has large set aside for flood control. This plan has had its share of controversy. Some neighbors are concerned that their property values will be hurt and the “estate home” feel of the area will be lost. The jury will be out on that until the project is complete. From my point of view it’s positive (overall) for the area, but some property owners will be negatively affected, and that’s unfortunate. Visit our supersite for more information on Rio Rancho Homes for sale and to search for homes and land in Albuquerque and Rio Rancho. Visit our Albuquerque Real Estate website for Albuquerque area homes search and listings. Labels: Albuquerque Commercial Real Estate, Rio Rancho
Take that foreclosure list you got in your e-mail with a grain of salt. Not to say the info is not accurate, but there may be more to the story. We have seen a situation where the RealityTrac report shows an outstanding balance but is only the 1st mortgage and did not include and underlying debts.
Is that preforeclosure really for sale? | Inman News: "Many homes in preforeclosure are not on the market and their owners do not intend to sell them. Although preforeclosure properties that turn up in the search results at First Team Real Estate are accompanied by dollar figures, a disclaimer informs users that the dollar amount is not the list price, but a default amount or remaining balance on a loan. Listing sites like Yahoo Real Estate and Trulia have been criticized for not taking similar steps to make clear that preforeclosures from RealtyTrac that are mixed in with for-sale listings are not necessarily for sale (see story)."
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Visit our Albuquerque Homes website. Labels: Mortgage News
Friday, July 11, 2008
The Albuquerque Journal today published data from July 2007 showing that Rio Rancho had surpassed Santa Fe as the third largest city in New Mexico. While we knew Rio Rancho has been growing steadily, it is official. With the relocation of Hewlett Packard from Colorado Springs next year, it should continue to grow steadily. Rio Rancho had 75,978 people at the time of the census in July 2007. Las Cruces has 89,722 and Albuquerque 518,271.
All the best, Tracy
Visit our Albuquerque Real Estate website for Albuquerque area homes search and listings. Labels: Rio Rancho
Thursday, July 10, 2008
We just listed a wonderful home in Rio Rancho. Wow, what a great house! Views, high quality construction, custom features, 2522/sf, 4bdrms, and a lot of almost one acre. Priced at $354900.00.
Visit our Albuquerque Real Estate website for Albuquerque area homes search and listings. Labels: Rio Rancho, Rio Rancho Real Estate
Sunday, July 6, 2008
We just listed a home in the 7 Bar South neighborhood. This home has great back yard, it's extra large and has open space on the west side. It's located at an end of a quite and private cul-de-sac. Call us to come see it today.
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