Albuquerque, New Mexico area suburbs such as Rio Rancho and Corrales are enjoying faster sales than this time last year, say local Realtors.

"Rio Rancho is in the high desert," explains Realtor Diane Wild, "with lots of sunshine, fantastic weather year-round with summers that are not too hot and winters that are not too cold. Beautiful mountains and sunsets and lots of friendly people.

About the market, Wild advises, "Interests rates remain low and are predicted to remain low at least until the Presidential election. Due to the lower interest rates buyers can afford more house for the same payment. This is bringing the median price up nationwide. In Albuquerque and surroundings areas we have seen our strong buyers market slowly shift to a more neutral market. Homes that are priced at market value sell within 60-90 days compared to 180 days just two years ago. It is definitely the time to buy and sell and make a profit."

Says Realtor Laurie Balmer, "Rio Rancho is a fast-growing community northwest of Albuquerque that reaches north to Bernalillo. Still affordable, houses in Rio Rancho are still selling at what seems to be an even pace. With highway 528 being widened in 2003, the possibilities of faster growth could be realized. It's still a good first-time homebuyers haven with many affordable existing homes on the market and many new subdivisions being built as we speak."

Corrales

Says Balmer, "Corrales is a peaceful, rural setting along the Rio Grande in close proximity to Albuquerque and it's amenities. There aren't as many homes for sale in Corrales as last year at this time and the prices just keep going up! Land in the green belt is scarce also!"

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Published: January 23, 2004

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