Where to live based on cost of gas (Albuquerque, Rio Rancho: real estate market, condos)

[nmguy]

I'm wondering what effect the price of gas is having on today's real estate market . . . .

How far from Albuquerque are you willing to live based on $4 a gallon gas prices? Are places like Corrales, Rio Rancho, Bernalillo and Placitas losing their luster?

[Zoidberg]

For Placitas and Corrales in particular, if you can afford to live there, you can afford the gas.

Rio Rancho will probably not continue growing faster than local industry can support it.

$4 gas will definitely slow down growth outward, and speed up growth upward.

[rybert]

Do y'all really thing ABQ will grow upwards?

I think it would be great!

[yukon]

I hope not. Building up means losing personal space. Cramped condos like NYC is not my idea of fun. But I wouldn't mind seeing a compromise between sprawl and upwards congestion.

Maybe the gas price will prompt ABQ Ride to expand to some new areas.

[EnjoyEP]

Originally Posted by Zoidberg

Rio Rancho will probably not continue growing faster than local industry can support it.

Somewhat disagree, if by "local industry" you mean industry *in* Rio Rancho (or bordering areas of NW ABQ, bordering Corrales areas, and bordering Bernalillo areas).

Sure, it'll suck royally for folks to drive 20+ miles to work one-way on $4/gallon gas (or who knows? Maybe soon $6/gallon gas)...and it'll be very pricey.

Let's say they are working Downtown for hypotheticals. Now...

However, if one wants and desires a home of their own, and can afford a home in RR for $180K that they couldn't have purchased either in the nicer near-UNM/Nob Hill/near-Downtown for anything short of $265K or $335K, well then, that price difference might make coming up with the gas money a whole lot more doable.

I know up here in Milwaukee metro, I live in a very nice (but not affluent by any means...kind of a much smaller, more quaint - but also more northern/mosquito & snow infested - Rio Rancho) inner-ring suburb of Milwaukee - Greendale, a community of 14,000. I drive about 14 miles one-way for work. Our gas prices are higher here than they are in ABQ Metro. Up here, in 1.7 MSA metro Milwaukee, that commute is seen as fairly quick and adventageous. In ABQ? People would be complaining. Why do I share this? Because Greendale is nice, but also, it is a nice community we could AFFORD housing in. If I bought a house in, oh, say, Whitefish Bay WI which would've been a 3 mile one-way commute (thus saving tons on gas)....just wait a minute...I COULDN'T have bought there...because homes are way out of my league.

So Zoidberg's overall post / point is well taken, but I do think that Rio Rancho will continue to grow and boom, gas prices or not. It is a very nice community with affordable middle class housing...that'll always be in high demand unless our economy would tank royaly (which, contrary to conventional mainstream media punditry, is far, far, far from happening)...

[the_mudman]

Originally Posted by nmguy

I'm wondering what effect the price of gas is having on today's real estate market . . . .

How far from Albuquerque are you willing to live based on $4 a gallon gas prices? Are places like Corrales, Rio Rancho, Bernalillo and Placitas losing their luster?

I think that this is a great question to ask... how will high gas prices affect the outward growth of Albuquerque? This is my personal take:

I am a current US servicemember stationed overseas. In the next week or so, I will be coming to Albuquerque to go house hunting for my impending retirement from the military (< 3yrs). I have chosen Albuquerque for my final retirement area due to my familiarity of the city (I enlisted in the Navy back in 1991), and my desire to be within close proximity to a major US base, Kirtland.

I am personally taking fuel prices, or more specifically, commute times into account when looking for a home. I have no desire to commute any more than I have to get to the necessary facilities (commissary, exchange, hospital, university, sports, airport, etc) that are readily accessible from living in the NE/SE heights. I am focusing on finding a home in the SE heights nearer the base, with possibly moving into some areas of the NE heights. And avoiding the obviously more unsafe pockets that exist in proximity of the Central Zuni Corridor from San Pedro to Wyoming, and immediately surrounding the Fairgrounds, the imfamous "War Zone".

But to make a long story short, gas prices are, in effect, determining where I wish to live. If I desired to be nearer industry that is established on the West Mesa and Rio Rancho, I would go there... but I desire to be near EVERYTHING... when I get settled in, I plan on driving as little as possible. And to be be within a 5 mile radius of most city attractions to me is an acceptable option to paying for a larger home, and dealing with commute times. I used to commute to high school, St. Joseph's on the Rio Grande (there wouldn't happen to be anyone from that high school reading this board?), but that was back in the mid-80s. I couldn't imagine what it is now...

[yukon]

I picked my place based on access to public transportation. I wasn't thinking as much gas prices at the time as I was being able to get to work, shopping, doctors etc. by bus in case of bad snow, my car dying, etc. Now with gas prices going up, it's an added benefit to be on a good bus route. I'd love to live in Placitas or Tijeras but there's no bus service. I'm hoping the gas prices prompt ABQ to increase route coverage to/from areas like Rio Rancho, Paseo, etc. and to expand hours of operation, especially on the weekends.

[rybert]

I hope Mesa del Sol will bring a new wave for the SE area of ABQ. It's been sad watching Lovelace be dismantled and the military base destroy a bunch of old houses (although they needed to be torn dowm).

[the_mudman]

Originally Posted by rybert

I hope Mesa del Sol will bring a new wave for the SE area of ABQ. It's been sad watching Lovelace be dismantled and the military base destroy a bunch of old houses (although they needed to be torn dowm).

Please specify... I am very curious to know about this "dismantling of Lovelace". Is the hospital being moved?

I have also read about some renovations on KAFB, but I am not aware of any what you describe.

Thanks in advance!

[rybert]

Originally Posted by the_mudman

Please specify... I am very curious to know about this "dismantling of Lovelace". Is the hospital being moved?

I have also read about some renovations on KAFB, but I am not aware of any what you describe.

Thanks in advance!

I grew-up in Siesta Hills... right next to Lovelace and KAFB. When we were little there were houses right next to us on base, with lots of young military families that had kids we would play with. However, the base has since changed it's housing around and there are no longer any families near by. The hospital has been struggling for the last couple years... they have down-graded their services offered (although still technically a hospital) and are (from what my mother tells me) mostly medical offices. It's not like the area was ever super-nice, but is has seen better days.

I've heard through the grape-vine that they are building a lot of new structures near the airport (Gibson @ Yale... and near by)... it feels like a resurgence of the area. I hope it is not simply a last breath for the area.