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Old 04-11-2008, 10:33 PM
 
Location: Corinth, TX
420 posts, read 961,884 times
Reputation: 227

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My husband & I are thinking about relocating to the SF/ABQ area within the next year for a couple of reasons: 1). to get closer to my aging parents in Pep, NM (south of Portales), 2) SUN!

I vacationed in the area as a child and so have a bit of a skewed, romanticized view I'm sure but I have always loved NM and am excited at the prospect of actually moving there. We are originally from TX and have been in WA for about 15 yrs now and as beautiful as it is, the wet is really starting to wear on us. We are planning a trip to NM in June to scope things out but would like a little advice on areas in which to look at homes. From reading other posts and receiving relo pkgs from both cities we understand the housing market is a bit pricey... coming from the Seattle area I don't think we'll be too surprised at the prices after seeing the home prices up here not much can shock us; its ridiculous up here (another reason to move).

Knowing that everything hinges on where we actually get jobs... we would like to have a pueblo style home (2500 sf or so) on 2+ acres, views of something more than our neighbors & within a reasonable commute (<hour) to either ABQ or SF in a (don't laugh) $250-400K price range (cheaper is better of course). Looking online and in the relo pkgs we are thinking the following towns/communities: Placitas, Tesuque, Cerrilos, Madrid, Algodones, Las Padillas, Bernalillo, White Rock, Espanola, Las Alamos, Edgewood, Tijeras, Galisto, or Belen might be good choices.

We don't have kids so don't necessarily need to worry schools. We would like to be in a safe (reading the horror stories about crime in the cities), rural area if possible but not opposed to being closer in for the right property.

Any tips you have on what areas to absolutely avoid, areas we may not have thought of and should check out while on our trip would be appreciated.
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Old 04-12-2008, 02:11 PM
 
Location: Santa Fe NM
327 posts, read 672,333 times
Reputation: 142
Your budget is fine - nothing to laugh at! Santa Fe prices are of course higher than Albuquerque's but that's a reasonable budget for either location. I would add to your Santa Fe list Eldorado - many two-acre lots, pueblo style homes, feeling of wide open spaces - and to your Albuquerque list Edgewood, with its similar larger lots, although not so many pueblo-style properties.
On your list Cerrillos and Madrid are interesting - I'm always wary about proposing them to clients because houses tend to take a long time to sell there.
Hope this helps.
Frank.

Last edited by santafescribe; 04-12-2008 at 02:11 PM.. Reason: left out a phrase
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Old 04-12-2008, 06:09 PM
 
950 posts, read 2,133,360 times
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Question Less optimistic

Cerrillos and Madrid. Test the well for flow and purity before you buy. Mining is not great for the water.
Los Alamos. Not many 2 acre lots. Space is at a premium. Also surprisingly hard to get a good view. Cliffside are good, but prices are high.
Tesuque??? 2500 sq feet, 2 acres, great view for 400K? 400K gets you nada in Tesuque -- the wealthiest CDP in New Mexico.
Yes, add Eldorado especially if you would like a planned, covenanted community.
Espanola has a heroin problem. But we have friends with a nice place and a couple of acres and they are quite happy. And Espanola has the cheapest housing of all the places you list around Santa Fe. (It is out of the County.)
Consider Pojoaque Valley -- Nambe, Pojoaque, Jacona, Jaconita are a series of small contiguous places mostly within a few blocks of the Pojoaque River. (River is a courtesy title.)

I'd be a little less optimistic than Santafescribe that your budget is reasonable for within Santa Fe County or Los Alamos County. 2500 feet, 2 acres, and good view? But prices are soft and SS is the realtor. Maybe I'm wrong.

Come to think of it -- test any well for flow and quality before buying.

Ordinarily I'd say rent first -- but will prices still be soft a year from now? I don't know.

You might want to consider east of Santa Fe off I-25. Prices drop by the mile. (exaggeration)

Last edited by Devin Bent; 04-12-2008 at 07:05 PM..
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Old 04-12-2008, 06:14 PM
 
Location: Las Cruces and loving it!
575 posts, read 1,455,211 times
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Quote:
Originally Posted by SoggyInSeattle View Post
I vacationed in the area as a child and so have a bit of a skewed, romanticized view...
Hey, we all have a skewed, romanticized view of this state, even when we live here. It's just a skewed, romantic kind of place!

~clairz
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Old 04-12-2008, 10:26 PM
 
Location: Corinth, TX
420 posts, read 961,884 times
Reputation: 227
Thanks - these are the comments we are looking for...
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Old 04-13-2008, 10:10 AM
 
Location: Santa Fe, New Mexico
3,059 posts, read 6,263,583 times
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Hi SoggyInSeattle:

We just purchased a home in Eldorado at Santa Fe, and I would encourage you to have a look at the community when you visit NM.

Homes there are on 1-2 acre sites, and many of them have wonderful mountain views. There are many in the 2500 square foot range, and the prices seem to be coming down some. Many have been on the market for a long time, and sellers might accept a lower offer, as was the case with the house we bought. (It was only on the market for 8 days, but the sellers accepted our much lower-than-asking-price offer.)

For 2500 square feet, you will still be looking at $350-500,000, depending on the features you want/need/expect. All the houses are pueblo style or Northern New Mexico style.

Yes, Eldorado is a planned community, and there is an HOA and covenants and many people do not like that sort of thing. But it works well in Eldorado because it preserves the character and ambience, the views, the quiet, and the privacy. Eldorado is also loaded with amenities: pool, tennis courts, senior center, community center, dog park, many greenbelt areas, and paved walking trails all through the subidivision. There is also a horse stables, an elementary school, a fire department, a bank, and a growing shopping area. It is a very low crime area. I would say there is an equal number of families with children as retired couples.

And one of the nicest parts about Eldorado to me is that you have the feel of living in a rural area, but you are just a 10 minute drive into the city.
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Old 04-13-2008, 10:31 AM
 
950 posts, read 2,133,360 times
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Quote:
Originally Posted by Towanda View Post
Hi SoggyInSeattle:


For 2500 square feet, you will still be looking at $350-500,000, depending on the features you want/need/expect. All the houses are pueblo style or Northern New Mexico style.
Thanks, Towanda -- I was curious and looked at asking prices. But you bought recently and have a better idea of what property can be purchased for in the current soft market.

MLS data says prices fell 7% in the county and 15% in the city comparing 1st Q 08 with 1st Q 07. But we will have a better idea when we see the federal same house data.
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Old 04-13-2008, 10:34 AM
 
Location: Santa Fe, New Mexico
3,059 posts, read 6,263,583 times
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The agent at closing was telling us that in Santa Fe, the lower priced homes (I would guess below $350,000) are selling well (makes sense) and for some reason higher priced houses (I would guess $700,000 and up) are selling well, but it is the middle range that is soft and slow, with prices coming down.

We found a house in that middle range that would have been priced much higher six months ago.
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Old 04-13-2008, 10:50 AM
 
950 posts, read 2,133,360 times
Reputation: 252
Default lower prices

Quote:
Originally Posted by Towanda View Post
The agent at closing was telling us that in Santa Fe, the lower priced homes (I would guess below $350,000) are selling well (makes sense) and for some reason higher priced houses (I would guess $700,000 and up) are selling well, but it is the middle range that is soft and slow, with prices coming down.

We found a house in that middle range that would have been priced much higher six months ago.
That is what I have heard except that one of the national lower range developers recently cut prices in Santa Fe which suggests that the low end has slowed also.

The developer's price cuts in Santa Fe is what resulted in similar condos selling for virtually identical prices in Santa Fe and Albuquerque.
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Old 04-13-2008, 12:17 PM
 
Location: Corinth, TX
420 posts, read 961,884 times
Reputation: 227
Great info on Eldorado, we'll definitely visit in June.

A question about the HOA's, tho: Do any of the homes there come with large detached shops/barns/garages? We have a large shop now and have managed to fill it full of stuff. :-) Would we be able to build one without too much hassle? What about restrictions on RV parking - 1). we have a small one and 2). we have relatives/friends that come visit for extended periods (1-2 mos) and would the neighbors have a fit if an RV was parked there for any length of time?

We've never really lived in an area with HOA's/Covenants (other than King County, WA where if you live close to anything that could be construed as "wetlands" then you pretty miuch can't do anything with your land but pay taxes on it).

Speaking of taxes - does NM have a state income tax? I've heard it does and googled it but not sure I understand it, exactly.
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