Albuquerque Real Estate

PARTNERSHIP IN RIO RANCHO

2009-02-02T08:59:00.001-07:00

The University of New Mexico Board of regents approved UNM's partnership with the Sandia Foundation to build the first building located at the new UNM West campus in Rio Rancho. UNM and the Sandia Foundation anticipate the building will be completed in time for classes to begin for the spring semester of 2010.

Nearly three-quarters of the 40,000 square foot building will house classrooms and student support services. The UNM Medical Group will use approximately 10% of the building for administrative functions, with the rest being used for faculty/staff offices and building systems. The building will be designed as a student-oriented, architecurally distinctive, flexible-space learning facility.

The new building will act as an"incubator" for both program and campus development, and may ultimately become multi-institutional in nature as UNM's "2&2" partnership with Central New Mexico Community College is refined and a new partnership with New Mexico State University is developed for the delivery of selected programs such as tourism and hospitality management that do not duplicate UNM offerings. Total project costs are estimated to be $10.98 million.

RIO RANCHO BOND ELECTION

2009-01-29T08:51:00.002-07:00

The bond election for a variety of road rehabilitation,major road construction, and new construction projects throughout the city will be held on March 10,2009.

2009 Bond election- $25 million
Unser Blvd. widening project phase A ---$6.1 million
Paseo del Volcan project ---$10 million
Northern Blvd. widening project phase A ---$1.6 million
30th Street paving (design) ---$300,00
Western Hills Drive ---$2.58 million
Nicklaus Drive from Broadmore Drive to Southern Blvd. ---$2.1 million
Paving Preservation ( preventative maintenance) ---$2.32 million

Polling locations will be open on March 10th from 7:00a.m. to 7:00p.m. Absentee and early voting will be from Feb 11, thru March 6 2009. Contact the City Clerks office, 3200 Civic Center Circle, NE for more information.

ALBUQUERQUE REAL ESTATE REPORT

2009-01-26T07:59:00.002-07:00

The local housing market ended 2008 much like the rest of the economy--down, with no sign of recovery in the short-term. Almost every indicator, from sales prices to the number of closed sales and new listings continued to be headed in the wrong direction except in one area: Sales of townhomes and condos have generally been stable or on the rise, depending on the month. The median price in December on townhomes/condos was $164,000, an increase of 13% over the same month in 2007, according to the statistics from the Greater Albuquerque Association of Realtors. However, existing detached homes saw the median price fall 10% last month, to $179,000, compared with $200,000 in December of 2007. The median price has not seen the $170's since Feb. of 2006.

The average time a home sat on the market in December was 76 days, down from 80 the month before, but up from 60 a year ago.

RIO RANCHO PARKS AND REC. BROCHURE AVAILABLE

2009-01-24T15:31:00.002-07:00

Each year the Rio Rancho Dept. of Parks and Rec. and Community Services publishes three brochures (Spring, Summer, and Fall) which give complete listings of community special events and activities for children, teens, and adults. Brochures provide registration deadlines, activity dates, and prices.
While supplies last, brochures will be available at the following locations:

City Hall Parks and Rec. office

Sabana Grande Recration Center

Star Heights Recreation Center

Meadowlark Senior Center

Loma Colorado Main Library

RIO RANCHO CRIME MAP

2009-01-23T09:58:00.002-07:00

The Rio Rancho Police Department Has teamed up with CrimeReports.com to provide maps that show where incidents in the city have occured. Using this system is free and includes the option of signing up for automated alerts when crime occurs near your home,office,school, or other areas of the city. In addition, users can view an interactive map of the city that includes specific information (date,general location, and a brief description). Crime information is automatically downloaded to the system nightly from Police department computer-aided dispatch systems.

TV NETWORK MOVING TO ALBUQUERQUE

2009-01-09T15:09:00.002-07:00

New Mexico is getting into a new industry as the ReelzChannel television network moves its company headquarters to Albuquerque. The national cable and satelite TV network specializes in TV shows about movies. The network owned by the Hubbard Media Group is planning to set up in Albuquerque by May 1. The company is expecting to need 100 new employees, from production staff to accountants and writers and will be holding a job fair from 10 a.m.-- 8p.m. at the Embassy Suites Hotel. Visit www.reelzchannel.com/careers for more information.

The company's headquarters now are in Minneapolis and St. Paul, Mn., with production offices in Los Angeles. Though some employees will stay in L.A., the company is expecting to need about 100 new employees here to run the day-to-day operations of the network.

The 24-hour channel shows movies and TV shows about movies, such as "Secret's Out with Leonard Maltin", a show that champions films that may have flown under the radar, "Movie Mob", a show of user-generated content blogs, and "The Critic", an animated show starring Jon Lovitz as a down-and-out movie critic.

PRESBYTERIAN RIO RANCHO MEDICAL CENTER

2008-12-19T10:36:00.002-07:00

Presbyterian will create a healthcare system for west side patients and members that is safe, patient-centered,operationally efficient and flexible, environmentally friendly and technologically innovative. Presbyterian has spent more than a year researching, reading, going to other state-of-the-art hospitals and planning to provide New Mexicans with a healthcare delivery system that will meet their needs today and in the future.

Hospitals are complex facilities to build with special considerations given to medical gas lines, safety for patients and visitors and many other factors. The average hospital takes two to three years to build. Presbyterian has broken ground for the new hospital and medical center in the summer of 2008 with completion targeted for the fall of 2010.

The 21st Century Hospital

* 66 acres east of Unser Blvd. & north of Black Arroyo Blvd.
* 120 private patient rooms in 340,000 square feet of hospital space.
* Full-service emergency department with helicopter pad.
* Medical office building with four floors providing more than 110,000 square feet of medical services.
*More than 140 physicans and 500 plus employees.

AIR FORCE MOVES SPACE WARFARE OPERATIONS TO ALBUQUERQUE

2008-12-17T15:06:00.002-07:00

More of the nation's space operations are moving to Kirtland Air Force Base in Albuquerque next year. The Battlespace Environment Division, with 175 jobs and an $89million annual budget is transfering from Hanscom Air Force Base in Massachusetts to Kirtland next year as part of the recommendations of the 2005 Base Realignment and Closure Commission.

The division's missions include developing advanced surveillance technologies and studying conditions in space that can affect military operations. The division has Dept. of Defense wide responsibility to perform basic and applied research and development to provide technologies to warn operators of potential problems and to protect our space assets from the effects of the space environment.

The Battlespace Environment Division is one of three divisions that make up the Space Vehicles Directorate. The other two divisions are already at Kirtland. The Battlespace Environment Division includes the Space Weather Center of excellence and the Battlespace Surveillance Innovation Center. The Innovation Center develops detection and imaging technologies that can provide the military with information about combatant forces in the field. The Weather center studies phenomena in space that can affect military systems and develops ways to predict, mitigate and reduce those effects. These range from radio signal interference in the ionosphere to radiation damage to spacecraft hardware. The Environment Laboratory will develop technologies to improve space systems and operations.

The Air Force plans to break ground in January with a completion date of July 2010.

RIO RANCHO FIREFIGHTERS HOLD FOOD DRIVE

2008-12-17T10:12:00.002-07:00

Rio Rancho's firefighter union ( local 7911 ) along with the Rio Rancho Benevolent Association of Firefighters are participating in a food drive to benefit St. Felix Pantry. During the holiday season St. Felix Pantry serves about 800 families a week. Waste Management of New Mexico has donated six containers to use as collection bins which have been set up at fire stations as well as city hall. Firefighters will be taking donations of non-perishable food, toys, household items, and clothing for all ages. Donations will be accepted now through the end of December.

RIO RANCHO NAMED AS THE STATE'S BEST LOCATION TO RAISE KIDS

2008-12-15T07:54:00.002-07:00

Rio Rancho has been named by Business Week magazine as the state of New Mexico's best place to raise kids in 2009. For Business Week's second annual list of best places to raise kids they teamed with New York based real estate provider OnBoard Informatics to select a community from every state. Communities with 50,000 residents and a median family income between 440,000 and $100,000 were used as a starting point to create this year's list.

The list was then narrowed using weighted criteria such as school performance, number of schools, household expenditures, crimes rates, air quality, job growth, family income, museums, parks, theaters, diversity, and other amenities. School performance and public safety were weighted the most heavily when assessing a community followed by amenities and affordability.

This past April, Rio Rancho was recognized by Fortune Small Business magazine as one of the best places to live and launch a business in the United States. In addition in 2005 and 2006 the city was listed by Money Magazine as one of the best 100 places to live in America.

RIO RANCHO 2009 WATER CONSERVATION CALENDAR AVAILABLE

2008-12-11T07:35:00.003-07:00

The City of Rio Rancho 2009 calendar is now available and can be obtained by visiting city hall (3200 Civic Center Circle NE), the Meadowlark Senior Center (4330 Meadowlark Lane), the Loma Colorado Main Library (755 Loma Colorado Drive) and the Esther Bone Memorial Library (950 Pinetree Road). Calenders are free and will be available while supplies last.

The calendar's theme is "Growing Green in Rio Rancho" and throughout, water wise tips residents can use year round to reduce water waste, conserve energy, and save money are provided. In addition, colorfull photographs capturing every season in the City of Vision are used.

The calendar is produced by the city's Environmental Programs and Water Conservation Office which is part of the city's Utilities Division. Their mission is to educate, provide outreach, and offer programs that empower residents and businesses to act responsibly to protect the city's most precious resources.

For more information call 505-896-8715

RIO RANCHO TOP EMPLOYERS

2008-12-08T09:59:00.002-07:00

Intel 5,000 employees
Rio Rancho Public Schools 1,838
Sprint PCS 800
Bank of America Banking Services 700
City of Rio Rancho 651
eTelcare Global Solutions 600
Brycon Construction 422
Sandoval County 406
Victoria's Secret 400
JC Penny Customer Service Center 350
Wal-Mart 334
US Cotton Inc 210
Intersections 200

HEWLETT-PACKARD EXPANDS TO RIO RANCHO

2008-12-04T12:46:00.002-07:00

Intel did it in the 1980's and 90's. Rio Rancho officials are counting on computer giant Hewlett-Packard to do it starting next year. The construction and opening of HP's 218,000 square-foot customer and technical support center in Rio Rancho will jump start local economic activity much the way Intel's massive chip-making plant did here 20 years age.

Hewlett-Packard has said it will provide 1,300 high-tech, high-pay jobs when it opens a year from now. The company expects to break ground next month. Employees will do sales and provide technical support for HP products ranging from notebook computers to desktops, from servers to hand-held devices. Most employees will be hired locally.

The company has pledged to create 1,300 sales and technical support jobs by 2013 and 1,800 within 15 years. Most of the jobs will offer an annual salary starting at $40,000. Rio Rancho will be the largest of 3 U.S. sites where HP will consolidate operations supporting 10 divisions, including its PC, computer server and printer business lines. The other sites are in Georgia and Arkansas.

HP will begin construction on the 3 story center in January and hopes to open by Dec 20, 2009. The center will be on a 17 acre site in the City Center area, nortwest of the Santa Anna Star Center. Central New Mexico Community College and the University of New Mexico plan to open a campus nearby in 2010.

HP, based in Palo Alto Ca. reported net revenue of $28 billion for the third quarter of 2008, a 10% increase over the same period in 2007

RIO RANCHO PUBLIC SCHOOLS

2008-12-02T10:05:00.002-07:00

Rio Rancho Public Schools is dedicated to helping every student gain the knowledge and skills needed to adapt to a changing world and become a productive citizen. The Rio Rancho community insists on safe, clean, functional schools where where students can learn effectively and demands that students meet high expectations in the areas of academic achievement,character, behavior, and career readiness. To further these goals, the district encourages parent involvement and community and business partnerships.

There are two new elementary schools to serve our city's growing population open in 2008. Cielo Azul Elementary will serve the fast-growing Northern Meadows community. Sandia Vista Elementary will serve portions of the Enchanted Hills neighborhood and the new Lomas Encantadas neighborhood just ot the south. Meanwhile, construction continues on the new Sue V. Cleveland High School opening in the fall of 2009. Already the school's three story main classroom building and other facilities are a dominating presence on the landscape to the east of the City Center. The new school was conceived and designed with 21st century skills in mind. Like Rio Ranch High School, Cleveland High will offer students a choice of career-based academies in engineering, the sciences, liberal arts and performing arts.

Rio Rancho High School is especially well known for excellence in science,enginering, and student research. In 2004 Rio Rancho High was one of eight schools nationally named a Microsoft Center of Innovation school. The school has sent students to the Intel International Science and Engineering Fair for the past six years. Rio Rancho High won the state championships in robotics for the seventh time and sports medicine in 2008 The high school also captured state championships in volleyball, girls soccer, wrestling and district championships in nine sports.

Rio Rancho students can take advantage of a strong curriculum including a wide selection of advanced placement courses and concurrent enrollment and duel credit opportunities at the University of New Mexico, Central NM Community College and other institutions.

To succeed in high school and beyond, students must have a solid foundation. Rio Rancho's 10 elementary schools laid that foundation with special emphasis on math, reading and other literacy skills. All elementary schools offer full day kindergarten programs and have full time librarians and music, technology, arts, and physical education programs. Rio Rancho's Shining Stars Pre-school helps three and four-year olds learn the reading readiness and social skills that they need to be prepared for kindergarten. It primarily serves students who are developmently delayed and students with disabilities, but also accepts typically developing four-year olds selected through a lottery system.

At the community's three middle schools students are taught math, science, and humanities by a team of teachers who work together to provide an integrated program. Middle school students also take elective cources geared to the needs of young adolescents. Rio Rancho Mid-High School's campus serves the district's eighth and ninth-graders. The Mid-High's programs are designed to meet the special academic needs of students making transition from childhood to adolescence, and from lower grades to high school.

RRPS offers several other educational opportunities for secondary students. The Rio Rancho Cyber Academy provides classes on line featuring live interaction with teachers as well as self paced computer courses. Cyber Academy students are often high achieving young people , who do well with a program that combines rigor with flexability. Independence High School offers an option for students seeking extra support so they can earn a high school diploma. Among its programs IHS provides day care services and parenting classes for young families and flexible schedules for students required to work. Independence also partners with CNM to offer careers education programs in film, culinary arts, and health care.

Rio Rancho Public Schools is the state's third largest school district with 15,600 students. Since the district was founded in 1994, Its rapid growth has paralleled that of the city of Rio Rancho. The district has maintained high academic standards while building and opening eleven new campuses in twelve years. This rapid expansion has been suported through voter-approved bond levies, corporate and government partnerships, and state funding.

ALBUQUERQUE AREA DIAMONDS

2008-12-01T10:27:00.002-07:00

AAA has awarded 2 hotels and 1 restaurant the prestigious AAA Diamond Rating for the year 2009. Lodgings at that level offer an extensive array of amenities combined with a high degree of hospitality, service and attention to detail. Restaurants at this level offer distinctive fine dining experience marked by high level ingredients, creative presentation and attentive service.

Just 3.9% of the more than 31,000 AAA rated lodgings and 2.8% of the 27,000 AAA Rated restaurants were awarded the prestigious AAA Four Diamond designation for 2009. AAA Four Diamond Award winners represent an important tier of the hospitality industry, offering guests superior experiences with a high level of hospitality in luxurious surroundings.

The winning resturant in Albuquerque is the Rancher's Club of New Mexico. The winning hotels are the Hyatt Regency in Albuquerque, and the Hyatt Regency Tamaya Resort and Spa in Bernalillo.

RIO RANCHO HIGHER EDUCATION OPPORTUNITIES

2008-11-30T15:36:00.002-07:00

Options are abundant for Rio Rancho residents, who wish to pursue higher education with many institutions offering classes either in or near Rio Rancho In November of 2007, voters approved a Central New Mexico Community College (CNM) district expansion to include all of Rio Rancho. Situated on 40 acres adjacent to the Rio Rancho City Center and scheduled for construction in 2009, CNM will partner with the University of New Mexico for the delivery of higher education. Visit www.cnm.edu for more information.

The University of New Mexico: UNM has a Rio Rancho Center, which operates on upper-division and graduate-level course work. A full UNM campus is projected in the near future, eventually serving 12,000 students making it the 3rd largest campus inthe state. For information, visit www.dce.unm.edu.

New Mexico Highlands University in Rio Rancho offers upper- division undergraduate and graduate courses in several fields awarding bachelor and master degrees, as well as state licensing for teachers. Visit their web site at www.nmhu.edu/riorancho

National American University, a multi-campus institution with locations throughout the country has sites in Rio Rancho and Albuquerque where students can earn associate and bachelor's degrees. Visit the web site at www.national.edu. The University of Phoenix offers several classes in Rio Rancho and has a larger campus nearby in albuquerque. The university offers Bashelor's, Master's, and Doctoral degrees in a range of disciplines. Visit www.phoenix.edu.

RIO RANCHO DEMOGRAPHICS

2008-11-28T07:35:00.002-07:00

91% of Rio Rancho residents have a high school degree or better, 9% do not have a high school diploma. The % of education breaks down in the following:
8% Graduate degrees
17% Bachelor degrees
9% Associate degrees
29% Some college
28% High school graduate

Rio Rancho's male to female ratio is 48.5% to 51.5%. The average age is just over 35 years old. The median household income is $47,169. The following table shows the same variables for Sandoval County, the Albuquerque MSA, and the state Of New Mexico.

Albuquerque MSA male to female---49% to 51% age---34.9 HS ed.---83.8% income---$39,088
New Mexico male to female---49.2% to 50.8% age---34.6 HS ed.---78.8% income---$34,133
Rio Rancho male to female---48.5% to 51.5% age---35.1 HS ed.---91% income---$47,169
Sandoval county male to female 48.8% to 51.2% age---35.1 HS ed.---86.1% income---$44,949

ALBUQUERQUE / RIO RANCHO COST OF LIVING INDEX

2008-11-26T15:32:00.002-07:00

El Paso 91.1
Rio rancho 93.1
Dallas 94.6
Colorado Springs 94.7
Tucson 97.3
Albuquerque 97.6
Phoenix 100.4
Denver 100.6
Portland 115.5
Reno 112.1
Las Vegas 109.9
Seattle 115.3
San Diego 150.3
Los Angeles 159.0
San Francisco 171.4 *Source: Rio Rancho Economic Development Corp.

RIO RANCHO: CITY OF VISION

2008-11-25T11:11:00.002-07:00

Rio Rancho has become one of the nation's fastest growing small cities, largely due to affordable housing, good schools, employment opportunities, and an aggressive city government stressing smart growth. AMREP land co. purchased approxmately 90,000 acres of land, known as the Koonz ranch in the early 60's, and home to 500 head of cattle. The company marketed Rio Rancho to people in the east and the midwest, using free dinners and other inducements, offering the dream of a move west to the wide-open spaces.

Model home construction began in 1962 and construction of the first home in 1963. In 1964 the community's population was between 75 and 100, growing to 1,500 residents by 1969. The Rio Rancho Golf and Country Club was built in 1970, and the city boasted 2,500 residents and its first shopping center by 1971. By 1974, the community's population reached 5,377 and the first elementary school was opened. By 1977 AMREP had sold more than 75,000 lots.

Between 1970 and 1980 the population more than doubled. The community now boasted a department of public safety, a library, and a planning and zoning commission. Because most residents were still required to commute to Albuquerque for jobs, AMREP established an economic development department and began working to recruit business and industry. The effort paid almost immediate dividends as Intel Corp, employng more than 6,000 workers,
established an anchor factory in the center of town. In 1992, voters approved a Home Rule Charter for Rio Rancho to afford the city to more effectively govern itself.

Long known as a retirement community, the influx of young families created a need for schools. While most of the city was served by the Albuquerque Public Schools district, Jemez Valley Public Schools served the northern part of the city. The New Mexico Department of Education approved the creation of the Rio Rancho School District in 1994.

A realtively young city in a state occupied since 100 A.D., today's Rio Rancho is the third largest city in New Mexico and one of the fastest growing cities in the nation. Recently ranked 83rd on CNN Money's list of the 100 Best places to live, Rio Rancho is now home to more than 80,000 people. Plans for two public elementary schools and a second high school are currently underway and projected for opening in 2009 and 2010, in addition to Central New Mexico College and the University of New Mexico branch campuses and two hospitals by 2010.

GOOD NEWS FOR ALBUQUERQUE REAL ESTATE

2008-11-25T10:50:00.002-07:00

Smart Money Magazine said Albuquerque's housing market appears to be in the best position to make a comeback. Researchers at the magazine said the nationwide rate of decline in sales is slowing and that the government takeover of Freddie Mac and Fannie Mae could boost the housing market by making borrowing easier for buyers. That's helping homeowners nationwide.

In Albuquerque, home inventories have leveled off and the number of homes on the market has remained level. Experts caution not to expect a rapid rebound. It could still take years for the housing industry to recover entirely. In Albuquerque, however, Smart Money Magazine seems to think we are ready to start seeing an increase in sales prices than a decrease.

Other cities that had high rankings in the magazine are Birmingham, Al., Buffalo, N.Y., and Charlotte, N.C.

ALBUQUERQUE REAL ESTATE UPDATE

2008-11-18T11:03:00.002-07:00

Homeowners facing foreclosure have doubled in the Albuquerque area metro area over the past year, but not all of them stand to lose the roof over their heads. One in every five houses going into foreclosure appears to be owned by real estate speculators, according to Irvine, Cal. based Realty Trac. They bought the houses on speculation that an easy profit could be made on a resale. Nationwide, speculative home buying was much more common. Close to one out of every three houses going into foreclosure appears to be speculator-owned, RealtyTrac reported.

The Albuquerque metro ranked 86 out of 100 cities tracked by RealtyTrac in the third quarter, with one out of every 415 households in some stage of foreclosure. A year earlier in the third quarter of 2007, the rate was much better at one in every 880 households.

Cities with high foreclosure rates, particularly in the Sun Belt, have one thing in common: dramatic drops in home values. The biggest problem with dropping home values is that a homeowner can end up owing more on his or her mortgage than the house is worth.

The Albuquerque metro's residential market is seeing some of the same downward pressure on home prices. The median sales price of an existing single-family house dropped 5.4 percent to $193,025 in the third quarter compared to the same period a year earlier, according to the Greater Albuquerque Association of Realtors. Median means half of houses sold for more and half sold for less.This year's decline in median home price is the first time since 2000

NEW MEXICO'S MORTGAGES RETAIN EQUITY

2008-11-17T15:44:00.002-07:00

New Mexico is ranked in the nation's top 10 for home mortgage equity, according to a survey that uses negative equity as its key metric. Just 8.2 percent of New Mexico's 186,844 mortgages were showing negative equity at the end of September. The survey, conducted by First American CoreLogic, shows New Mexico had the eighth lowest negative equity among the 50 states. Nevada at 48.7 percent and Michigan at 39 percent had the most negative equity. Negative equity is calculated by comparing the current estimated value of a home against its outstanding mortgage debt.

The national negative equity stands at 18.2 percent. Many homes with negative equity end up as foreclosures as homeowners simply walk away from their homes because they are worth less than the mortgage owed. The survey also shows near-negative equity mortgages and there are 11.7 percent of New Mexico's mortgages in that catagory. Arizona,, California,and Florida are all approaching 30 percent levels of negative equity. Conversely New York is strong at just 4.4 percent. Colorado is at 18.c percent.

ALBUQUERQUE NM TOPS FORBES LIST

2008-10-23T08:50:00.002-06:00

To determine where home prices are expected to rise most in the next couple of years, Forbes.com looked at projections for housing starts from the National Association of Home Builders and job growth projections from Moody's Economy.com

Forbes identified cities that are likely to be vibrant markets bcause jobs are increasing and the housing market wasn't overbuilt during the boom.

"The logic is pretty straight forward"' says Mark Zandi, chief economist at Moody's Economy.com. "People will spend as much on housing as their income will allow them. Housing prices are very closely tied to household income over the long run when you look at business cycles".

According to Forbes, these are the 10 cities where home prices are most likely to rise:

*Albuquerque, N.M.
*Charlotte, N.C.
*San Antonio, Texas
*Portland, Ore.
*Austin, Texas
*Salt Lake City, Utah
*Colorado springs, Co.
*Minneapolis, Mn.
*Atlanta, Ga.
Oklahoma City, Ok.

MORE ALBUQUERQUE REAL ESTATE INFORMATION

2008-09-30T10:58:00.002-06:00

August 2008 real estate statistics for the Albuquerque metropolitan area show that there were 6,381 homes on the market. 619 homes sold in Aug., with an average selling price of $239,018 compared to an average selling price of $243,411 in Aug 2007. The median selling price was $195,000 compared with a median selling price 0f $208,000 in Aug 2007.

The average number of days on the market was 74, but that figure is misleading for comparative purposes. Here's why: Since Oct 07, the number of days on the market has been determined from date of listing to date of of sale. Prior to that the statistic was determined from date of listing to date of closing. Since closing normally occurs 30 to 45 days after the sale the new calculation effectively cuts off more than a month in calculating days on market. So for comparative purposes one needs to add at least 30 days to the stated days on market to place the time period in proper historical perspective.

ALBUQUERQUE REAL ESTATE NEWS

2008-09-26T10:50:00.003-06:00

The Albuquerque Board of Realtors reports that home prices shrank only 6% between Aug. of 2007 and 2008. Albuquerque has not seen the large declines in home prices like in Las Vegas, Phoenix or Tucson. However, Albuquerque also did not see the large 40% appreciations in price as the other areas during the boom.