Attractive Real Estate and Land Investing Areas in New Mexico
Lets take a look at land in the area, and then also talk about the real estate market and potential hotspots to buy a house.
Attractive Land Opportunities in New Mexico
Were going to be discussing several different plots of land that we have in stock that are so good, its almost impossible to pass them up. Youll find that different regions of the state have great opportunities, but there is one area that stands out among the rest: Valencia County.
Valencia County Opportunities
The following opportunities are available in Valencia County:
- 3.09 acres of land is for sale with mountain views for $2,550. This equates to just $825 an acre of land.
- 2.93 acres is available in a residential lot, but the price is so low, its not even disclosed.
- 3.47 acres of land is available with electricity and a paved to dirt road for $2,750 cash. This comes out to $792 an acre.
So, Valencia has several opportunities. You could buy multiple acres of land for far less than in most other parts of the country. And property taxes are so low in the state that you won't incur a massive loss if you choose to hold onto the property to sell it later.
I may be cheating with the city because it's inside Valencia County, but it is one of the hottest cities in all of New Mexico to live in. A thriving city, Los Lunas has the following land opportunity available:
- 3.08 acres of land is selling for $2,500 in cash. This property has beautiful mountain views, and property taxes are just $27.90 it doesnt get much cheaper than this.
Land opportunities in Los Lunas come and go so quickly because the land is in such high demand. Youll also want to note that the Rio Del Oro subdivision is within Los Lunas. The subdivision has so many different opportunities for land investment. Here are some of our current listings:
- 4 lots of land selling for just $2,350.
- 4 buildable lots selling for $2,500.
- 5.7 acres selling for $2,850 cash. This comes out to just $500 per acre.
Investors have an overabundance of land opportunities within Valencia County. This is the most popular county to buy land at the moment because the prices are rock-bottom, and the cities that encompass Valencia are growing at a rapid rate.
Real Estate Investing Areas in New Mexico
There are opportunities for every real estate investor to enter the New Mexico real estate market. Youll find that Albuquerque is a great spot for a little bit more money, and Los Lunas has great prices for every investment level.
Where are the best places to live in New Mexico in 2015? The hotspots, according to Movoto, are:
- Los Alamos
- North Valley
- Rio Rancho
- Santa Fe
These cities have all been chosen based on income level, unemployment levels and quality of life. These are the hotspots in the area where the real estate market and the centers are booming. But a major issue is that the prices are usually higher in cities, such as Albuquerque or Santa Fe, for obvious reasons.
A news report released in July 2015 showed that the New Mexico real estate market had its strongest summer in seven years. Across the state, 18 different counties saw an increase in the number of homes that were sold over the last year.
Median housing prices have also risen, coming very close to where they were in 2008 before the housing bubble popped. In retrospect, in 2008, the average single-family home was priced at $199,000, but prices quickly declined after 2008. Now in 2015, the prices are back up to $184,000. That equates to a rise of $7,000 compared to 2014. Foreclosures in New Mexico are on the decline, and prices are starting to trickle up more and more every season.
There were a total of 1,632 homes sold in September 2015, which is an increase of 7% to 8% over the last two years when September is routinely slow month in the housing market. The average home sold for $186,000 in September, which is 4.5% higher on the year.
Remember, half of the homes sold were sold for more than this price. If youre serious about investing in real estate, the one area that I would recommend most is Santa Fe. This great city offers the following:
- The cleanest air in the whole entire country.
- A market that was forecasted at a 10% gain in 2013.
- Unemployment levels that are as low as 5.5%.
- One of the top metropolitan areas for jobs.
- The center for the famous Santa Fe Opera, performing arts and visual arts.
When looking back to sales in 2012, we find that the median home price was $248,000. A quick look at prices of over 1,200 homes shows that you wouldve made your money back dramatically if you invested in the market in 2012. The current home prices are as follows:
- Home prices one month ago for a one-bedroom home averaged $303,000. As of November 4, one bedroom homes are selling for $297,000 on average.
- Two-bedroom home prices have range between $467,000 and $497,000 in the last month.
- Three bedroom homes have a range of $595,000-$645,000 over the last month.
- Four bedroom homes have a range of $759,000-$821,000 in last month.
The market is extremely hot in this area. Whether you want to invest in land or real estate, New Mexico is a very smart choice. The state not only has a real estate market that is rising back to peak levels seen in 2008, but there are several options for great land which you can build up for either commercial purposes, rental purposes, or to build and sell homes.