Rio Del Oro subdivision - HELP!?! (Los Lunas, Belen: for sale, home builders, buyer)

[teakabelle]

I posted this question at the end of a long thread related to Rio Del Oro, but never heard a reply, so suspect the locals moved on to reading other threads and didn't see my post. Therefore, I am going to start a fresh one.

I am trying to research the Rio Del Oro subdivision. My grandparents bought 6 parcels there a very long time ago and now my grandmother needs to sell them to continue funding her retirement (she turns 95 next month!).

I was hoping to determine a fair market value for the lots (2 contiguous lots near the base of the mountains and 4 contiguous lots near the western side and freeway). I was also curious to know how long it takes for lots to sell in this area, as I noticed there were a lot of them for sale on the internet with values ranging from $5,000 per lot to $10,000 per lot.

I also heard that you needed 3/4 acre to build, but only 1/2 acre for septic/well. How far into the subdivision has the City/County brought the electric/gas utilities?

Any help would be greatly appreciated by my grandmother and our family. I will most likely need to put her lots up for sale in the next few weeks.

[Julia2sf]

I've asked a friend to run some numbers for you and do a little research to see if he can't find some answers for you.

[lacey]

The lots in Rio del Oro are marketed from $1500 acre to $17,500 per acre depending on where they are located. Actual figures on lots sold vary from $800 to $4000, once again depending on where they are. Rio del Oro is a very large chunk of land located between Belen and Los Lunas, east toward the Manzano Mountains. There are some homes going up in the area but the roads are mostly undeveloped. Some lots have services9power and gas) and some don't. You need to have at least one acre to have a septic tank and the well has to be a certain distance away from the septic. You can drill wells, and it is cheaper do drill in Rio del Oro than it is in the East Mountains. Some parts are zoned for homes, some for manufactured homes, commercial, townhomes,etc. you need to contact V-I-A.org for more information. Lots tend to sit on the market a long time.....Prices will depend on which Unit they are located in.

[teakabelle]

Thank you for the information. My grandmother has given me the green light to try to sell her parcels. Any additional info that anyone has would be great. I would like to get a fair market price for the land so that my grandmother is not cheated, and neither is the buyer.

[lacey]

The lots closer to the hiway are priced higher as utilities, etc. are available. Some places have generators for their power as it is expensive to run power to the further lots. I have a friend who bought lots (1/4acre size) for $800 to $1800 each. I believe you have to have 1 acre for septic (check with the New Mexico State Engineer's Office) and new wells have to be registered with the State so they can monitor your water consumption. Some lots stay on the market for over a year; others sell within 6 months. You can also go to www.V-I-A.org or com. That's the Valley Improvement Agency, they have a lot of info on the area and covenants, etc. Habitat for Humanity has built homes ther but new home builders are also coming in and putting in nice homes in the area. The closer to the river/Hiway 47 area, the better your selling price can be.

[gypsyqueen77]

So does this mean that if you have a 1/4 acre lot that you can't build because you have to have at least 1 acre for septic? What would be the purpose then of people purchasing 1/4 acre lots?

[rdls1999]

Originally Posted by lacey

The lots closer to the hiway are priced higher as utilities, etc. are available. Some places have generators for their power as it is expensive to run power to the further lots. I have a friend who bought lots (1/4acre size) for $800 to $1800 each. I believe you have to have 1 acre for septic (check with the New Mexico State Engineer's Office) and new wells have to be registered with the State so they can monitor your water consumption. Some lots stay on the market for over a year; others sell within 6 months. You can also go to Valley Improvement Association - New Mexico or com. That's the Valley Improvement Agency, they have a lot of info on the area and covenants, etc. Habitat for Humanity has built homes ther but new home builders are also coming in and putting in nice homes in the area. The closer to the river/Hiway 47 area, the better your selling price can be.

Lacey,

--"The closer to the river/Hiway 47 area, the better your selling price can be."

Did your really mean Hiway 47 or Interstate 25? I am hoping that you did since my lots are near H47.

[Rose Bud]

Does anyone have any plat maps of Rio Del Oro or pictures of the area. Trying to find info on the area. Thank you Rose Bud

[rljsrubicon]

Hi.. I'm looking for a lot in NM. I'll need to live there, so it'll have to have utilities, etc.. Ron

Originally Posted by teakabelle

I posted this question at the end of a long thread related to Rio Del Oro, but never heard a reply, so suspect the locals moved on to reading other threads and didn't see my post. Therefore, I am going to start a fresh one.

I am trying to research the Rio Del Oro subdivision. My grandparents bought 6 parcels there a very long time ago and now my grandmother needs to sell them to continue funding her retirement (she turns 95 next month!).

I was hoping to determine a fair market value for the lots (2 contiguous lots near the base of the mountains and 4 contiguous lots near the western side and freeway). I was also curious to know how long it takes for lots to sell in this area, as I noticed there were a lot of them for sale on the internet with values ranging from $5,000 per lot to $10,000 per lot.

I also heard that you needed 3/4 acre to build, but only 1/2 acre for septic/well. How far into the subdivision has the City/County brought the electric/gas utilities?

Any help would be greatly appreciated by my grandmother and our family. I will most likely need to put her lots up for sale in the next few weeks.

[one2busy]

Go to Google Maps select satellite view, then type in Belen,NM. Then, move the 'green' arrow above belen to the lower left spot of the screen. Most of the right 2/3 of screen is Rio Del Oro. If you open another instance of your browser and type in the link below, you will see a detailed drawing of the area broken up into 5 sections that show the units/blocks/lots. Valley Improvement Association - New Mexico Hope this will help One2busy