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A number of people who post here are thinking about moving to NM. I thought they might be interested in current info about the market in cities across the state from someone who should know -- the CEO of the Homebuilders Association as quoted in New Mexico Business Weekly:
"Jack Milarch, CEO of the New Mexico Home Builders Association, says builders and subcontractors at a recent round-table discussion told him that most of the action now is in Hobbs, Gallup, Ruidoso and Farmington, and that they are having trouble hiring enough employees in those areas.
Albuquerque, Santa Fe and Las Cruces, meanwhile, are seeing a series of downturns, with some builders and subcontractors getting half as much work as the same time a year ago.
"The numbers back that up. Between January and November 2007, new-home permits declined to less than half from the same period in 2005 -- 3,874 permits compared to 8,090
What this should mean to buyers is that at least some builders in Albuquerque, Santa Fe, Las Cruces metro areas should be working off excessive inventory of newly built housing. That in turn may hold down prices of housing across the board and create opportunities for buyers in these metro areas.
Of course, this is a temporary phenomenon. In nine months the lists could be totally different.
I'd add on my own, that if you are interested in Santa Fe, then don't be too discouraged by the higher median prices. Santa Fe has a significant amount of expensive/luxury housing aimed at wealthy out-of-towners. These houses drive up the median price. But if you look at comparable housing, then you should find that Santa Fe is not as expensive as you thought.
Last edited by Devin Bent; 01-26-2008 at 12:11 PM..
Reason: typos
What is your definition of expensive? I can't find anything under $165,000 in Santa Fe except mobile homes and one bedroom condos (and a couple two bdrm condos.) It's not the place for first time buyers, not living alone, or have interests/hobbies and need room for them.
I never meant to imply you could find something that inexpensive in Santa Fe -- sorry if I did. I think you might find something like this in Espanola with regularly scheduled one-stop commuter bus service into Santa Fe. But I am not sure -- you don't say exactly how many square feet you are looking for.
You might even find something in Los Alamos, with reputedly the best public schools in New Mexico and the same one-stop commuter bus service.
You might also be able to find something comparable south of Santa Fe, but I am not as familiar with the area.
I also didn't mean to imply that Santa Fe is the best place for everybody. All I was trying to say is that you can find some places a little cheaper than the median price of home sales might imply.
Last edited by Devin Bent; 01-26-2008 at 04:28 PM..
Reason: typo
Devin......hows Espanola doing?? It's always had a bad rap on being poor (little mexico) and lots of Gangsta's. Even a few posters on here over this past year said they were afraid to go there.
But i also remember the last time i was there about 4 or 5 years back there was new housing subdivisions being built and the new supercenter built there. I also used to read about LANL creating some spinoff jobs there to help the local economy....but someone like you from up that way would have the better scoop on the town.
Devin......hows Espanola doing?? It's always had a bad rap on being poor (little mexico) and lots of Gangsta's. Even a few posters on here over this past year said they were afraid to go there.
But i also remember the last time i was there about 4 or 5 years back there was new housing subdivisions being built and the new supercenter built there. I also used to read about LANL creating some spinoff jobs there to help the local economy....but someone like you from up that way would have the better scoop on the town.
6/3
I go up there all the time. I live in northern Santa Fe county and Espanola is closer than the non-tourist shopping area in Santa Fe. I shop, eat out, and visit friends. My favorite restaurant is Paraqua with a Hispanic ownership and predominantly Hispanic customers. I'm Anglo and 67 years old, but never had any problems. Everybody is friendly and welcoming.
It is certainly not little Mexico -- the population may be predominantly Hispanic, but their ancestors got here long before mine did.
I never meant to imply you could find something that inexpensive in Santa Fe -- sorry if I did. I think you might find something like this in Espanola with regularly scheduled one-stop commuter bus service into Santa Fe. But I am not sure -- you don't say exactly how many square feet you are looking for.
You might even find something in Los Alamos, with reputedly the best public schools in New Mexico and the same one-stop commuter bus service.
You might also be able to find something comparable south of Santa Fe, but I am not as familiar with the area.
I also didn't mean to imply that Santa Fe is the best place for everybody. All I was trying to say is that you can find some places a little cheaper than the median price of home sales might imply.
Thanks Devin--now I understand. I do get grumpy when people think 200M+ is affordable and it would be if there were two incomes or I had a down payment. I've also been on this computer non-stop trying to find somewhere to live. I also feel bad for young families just starting out. Today I went for a walk down to Overlook Park and around White Rock and remembered how much I love New Mexico and I'm happy to be back. Not even sure I want to buy but I definitely don't want to move two times--tired of moving. I'm looking for 2-3 bedrooms and a garage (for a potter's studio.) 1,000 sq ft would be fine along with a community to get involved in and cultural activities and a college. Los Alamos is too small--I'm 55 so schools aren't an issue. I should have lived here when my son was young--he went to Santa Fe High.
It's nice to hear something positive about Espanola because all I've heard is negative. Makes me nervous to even consider living there alone but I also think it would be too small. The more I research ABQ, the more I want to try it. I could take up writing to pass the four hour commute. The Railrunner should cut some time off that too. I'm longing to be settled and begin making friends and becoming involved in the community.
The railrunner will add at least 20 minutes each way to your commute (from 550 in Bernalillo). Thats not including the time it takes to get on and off the bus and train.
The railrunner will add at least 20 minutes each way to your commute (from 550 in Bernalillo). Thats not including the time it takes to get on and off the bus and train.
Why? Doesn't it go faster than the bus? Right now I figure 20-30 minutes to get to Los Ranchos RR station, take that to Bernallillo and then get on the Park N Ride bus and then walk a few blocks to work. Maybe I could find a vanpool that would be faster.
You might give Espanola a look. I went to a party there back before Christmas and there seemed to be stuff going on -- people trying to start a theater and other things I don't remember specifically. Also the Community College was upgraded to a four year college, maybe even masters level and seems to be adding interesting new programs.
And certainly there is room to get involved in politics and try to straighten some of that out.
I suspect Espanola will be changing -- Santa Fe is moving north with increasing population and admittedly expensive housing prices on the north side of the city. The area immediately north of the city can't absorb many people -- too much land is held by BLM, the forest service and the pueblos and too much is already develped and occupied -- new people will move into Espanola and the numerous small towns in the area. I met a young woman the other day who lives by herself in Chimayo and commutes into Santa Fe & they don't have bus service.
Last edited by Devin Bent; 01-27-2008 at 08:55 AM..
Reason: typos
You might give Espanola a look. I went to a party there back before Christmas and there seemed to be stuff going on -- people trying to start a theater and other things I don't remember specifically. Also the Community College was upgraded to a four year college, maybe even masters level and seems to be adding interesting new programs.
And certainly there is room to get involved in politics and try to straighten some of that out.
I suspect Espanola will be changing -- Santa Fe is moving north with increasing population and admittedly expensive housing prices on the north side of the city. The area immediately north of the city can't absorb many people -- too much land is held by BLM, the forest service and the pueblos and too much is already develped and occupied -- new people will move into Espanola and the numerous small towns in the area. I met a young woman the other day who lives by herself in Chimayo and commutes into Santa Fe & they don't have bus service.
Thanks Devin! I will look at Espanola. I just contacted a dean at the college I went to in WA who has family in Espanola (for generations.) I would feel better if I knew someone there since I've heard such horror stories about the crime. I am interested in theater - volunteered to sew costumes in the theater in Olympia, WA and just loved it. This morning I decided I will stay at my friend's house in White Rock until I can save more and make up my mind. If I'm going to commute for hours, I might as well do it in a place that enables me to save money. Now I'm going to enjoy my last week of freedom before beginning work.
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Today I went for a walk down to Overlook Park and around White Rock and remembered how much I love New Mexico and I'm happy to be back. Not even sure I want to buy but I definitely don't want to move two times--tired of moving. I'm looking for 2-3 bedrooms and a garage (for a potter's studio.) 1,000 sq ft would be fine along with a community to get involved in and cultural activities and a college. Los Alamos is too small--I'm 55 so schools aren't an issue. I should have lived here when my son was young--he went to Santa Fe High. 
