Home Buying in Clovis>Question Details

Rustyberry, Home Buyer in Clovis, NM

why are home prices so high in cloves?

Asked by Rustyberry, Clovis, NM Mon Feb 24, 2014

A comprable home in Albuquerque is 30000.00 to 40000.00 less

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3
USAFDAVE is right, real estate is like any other commodity. Supply and demand dictate the prices. Pricing in Portales tends to be a little lower.
0 votes Thank Flag Link Thu May 29, 2014
Captive audience. Since AFSOC moved into the base, 4000-5000 new potential homeowners came into the area around 2009 (when I moved there) ... since new houses can't be built overnight (and there are no decent apartments OR available base housing... at least at the time) there was a high-demand, low-density mismatch. Prices skyrocketed nearly overnight. Especially since Basic Allowance for Housing (BAH) is public record. People selling knew what we made, knew what the median homebuyer's BAH was, adjusted their prices accordingly. It wasn't personal, it was business... still didn't keep me from having to pay 20-30% over comps in other cities. Have since moved away, but still own the home... have paid about $25K off the balance. Maybe I'll see that back if I can sell it for around the same price. At least I got lucky and found a GOOD house for a single Capt. Not a cookie-cutter "same as everyone else's" house.
0 votes Thank Flag Link Thu May 8, 2014
It can depend on the value for the area based on previously homes sold. Each market will differ.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
FREE Listing Alerts: http://www.syan.com/alerts
0 votes Thank Flag Link Mon Feb 24, 2014
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