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Am curious to the true status of housing in the ABQ/ Santa Fe areas. I am a Real Estate Appraiser looking to relocate from SoCal (was a Pittsburgher most of my life, Go Steelers! so I don't consider myself a Californian)
Some stats I have seen show in past years a ratio of about 2 to 1 of listings compared to home sales. Current months are showing a ratio of 4 to 1 which means properties are sitting on the market longer. House values have stabilized in California and in some areas, started a slight decline.
Is New Mexico similar?
How easy to acquire property in the Placitas area? Range of Values?
Look forward to hearing from anyone.
Am curious to the true status of housing in the ABQ/ Santa Fe areas. I am a Real Estate Appraiser looking to relocate from SoCal (was a Pittsburgher most of my life, Go Steelers! so I don't consider myself a Californian)
Some stats I have seen show in past years a ratio of about 2 to 1 of listings compared to home sales. Current months are showing a ratio of 4 to 1 which means properties are sitting on the market longer. House values have stabilized in California and in some areas, started a slight decline.
Is New Mexico similar?
How easy to acquire property in the Placitas area? Range of Values?
Look forward to hearing from anyone.
Just a couple of thoughts here: yes, prices have somewhat stabliized but according to an article in the paper just about a week ago: Alb has the highest housing market in the country; prices are up 9.1% over a year ago. I say it has stabilized because things are not selling very fast.
You mention "go Steelers" I don't know if you are a big sports fan or just a Steelers fan, but one of the things that we hate about living in NM: the majority of the people really do not follow sports very closely. Of couse this isn't true for everyone, but we have never lived anywhere that has less true fans. You see some loyalty and enthuiasm (spelling) for college sports; that is about it.
Thanks for reply.
One good thing is; somewhere in Albuquerque is a Steeler bar. There's one in every city I have ever visited.
Values in California peaked in June of '06 and flattened since then.
As in all cities, some areas began to decline, some stayed flat and others continue to rise, but not at the pace of prior years.
Instead of looking at one years cycles, take a look and see what has happened in the previous 6 months. Might give a clearer picture of things. The ratios I mentioned previously are pretty telling where the inventory of houses on the market has doubled and monthly sales have remained the same.
Something to consider with what is happening in SoCal, may be starting there, albeit a little later and a little softer.
Just food for thought.
FWIW - There are a lot more houses than buyers in New Hampshire. Prices are dropping as well. I'm hoping for a realty collapse so I can afford a retirement place in New Mexico while renting my current place in NH.
FWIW - There are a lot more houses than buyers in New Hampshire. Prices are dropping as well. I'm hoping for a realty collapse so I can afford a retirement place in New Mexico while renting my current place in NH.
this is pretty much the story all over the country. Let's face it, the market has it's ups and downs all the time. Let just hope we are all lucky to sell in an up market and buy in a down. Fat chance....
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Housing & Steelers
