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We were looking at some SkyView homes last spring. There were a few spec homes for sale then, and those same houses are still for sale. It's a beautiful area, but it would have added about 5 miles to our commutes and the dues would be a financial burden to us. They have big plans for Mariposa, but it's all come to a halt for now.
It seems Mariposa came into existance about 3 years too late for the last market boom. Just as it was getting started the market started slowing, so now it has to wait for the turn around...WHICH WILL COME!
Its about 7 miles from the I-25 exit at the 550 to the entrance to Mariposa. Eventually the 550 will be widened to accomodate better traffic flow, but for now it can be a little testy during rush hours.
The area is beautiful and has a sort of but not quite Placitas feel, and terrific views of the mountains. A positive aspect is that it is on the city of RR water grid, which some people prefer.
Everyone remember that the housing market will recuperate in time. As long as Albuquerque and NM as a whole continue to grow, (which nearly all forecasts speak positively in these terms) we will need more housing, and the west side has ample space to accomodate the growth. And the metro area has huge potential for infill and revitalization projects. We are in a downturn but not even close to so many cities that are suffering major job losses and huge housing devaluations.
I really believe we will see great economic times here in NM in the coming few years.
Any thoughts on the Mariposa development west of Rio Rancho?
We looked there, and spent time talking to several builders.
1. Geared toward affluent, professional couples, equity transplanters
2. Schools are an issue right now.
3. Not much in the way of retail- long drive for bread and milk
4. lot size is deceptive. The large lots we looked at had significant easements for open space. It makes for a nice feel, but you are paying for land (and taxes) on a lot you may not be able to utilize like you think.
5. Long commute
6. Same developer as High Desert - they did an excellent job there.
7. US550 traffic sucks
8. Building is essentially at a standstill right now
9. Close to new RR downtown. New Pres hospital 7 will be 7 miles away.
10. Dues, dues, dues.
11. Views, views, views.
12. Probably a good long-term investment, not short-term.
13. Lot prices are holding firm even in this market as to not devalue the current owners. Or so I was told.
We are curious about this area, too - and wondered if there have been any change in the past few months there?
We took a ride through Mariposa the other day, and it was the most beautiful place I've ever seen. Breathtaking landscapes and open space.
We noticed that many of the lots in the cul-de-sacs had "sold" signs on them.
And we did notice workers at the model homes, and one home currently being constructed.
We could never afford a home there, but are just curious if there have been any changes since we noticed so many "sold" signs there.
This looks like an amazing place to live. Never saw an HOA clubhouse like the one they have there. It looks so nice.
Last edited by Poncho_NM; 06-19-2009 at 10:23 AM..
Can you say super long commute? Why would anyone want pay high prices to live there ? Go to Placitas, Corrales or even Albuquerque Acres. You are paying wayyyy too much to live that far away from EVERYTHING!
Mariposa Calls It Quits
By Rosalie Rayburn / Journal Staff Writer on Mon, Jun 11, 2012
RIO RANCHO – The lackluster economy and dismal property sales are forcing the developer of the high-end and remote Mariposa community in northwest Rio Rancho to call it quits on the project.
High Desert Investment Corp., the investment arm of Albuquerque Academy, plans to close its sales and information office at Mariposa and has listed the land and lots it owns in the master-planned community with Land Advisors Organization of Scottsdale, Ariz., a company that specializes in large tracts of land, board member Gary Gordon said this week.
“We can’t wait any longer,” Gordon said.
With home and land sales flat in recent years and expected revenues a fraction of the projected level, Gordon said High Desert was burning through its own cash reserves to cover expenses for the community.
Around $1 million a year was going to cover bonds the company sold to pay for water and wastewater improvements the city required for Mariposa and surrounding homes.
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