Property Q&A in Rio Rancho>Question Details

Cheri, Other/Just Looking in Rio Rancho, NM

I own 2 lots in section21, block 106 near the new university. Are prices rising and what's a reasonable asking price now?

Asked by Cheri, Rio Rancho, NM Sat Jan 2, 2010

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The land sales in Rio Rancho have declined greatly over the past few years but lots are still selling if they are priced “right”. Block 106 in Unit 21 is undeveloped and more than likely you have ½ acre or 1 acre lots. Your location is good because it sits in the path of progress between the city centre and the new high school. Lots like yours in this area were selling for $30-$40k each at one time, but in today’s market I expect the price would be around $20k or less. To answer your question about prices rising… we have seen a steady decline in prices for RR land over the past few years (prices topped in 2007). It feels as though we may have bottomed out but there is still way more supply than demand. Visit my Rio Rancho Land page at http://www.welcomehomeabq.com/rio-rancho-land.htm (or Google "Rio Rancho Land") for more info on RR, or contact me directly if you need more help.
Tego Venturi
0 votes Thank Flag Link Sat Jan 2, 2010
Hi Cheri

I need a little more info about your property before I can give you an answer. What neighborhood specifically are they in? Do you have an address? A complete legal description? Please email me at kwtrav@gmail.com or call me at 505-332-5499.

Thanks,

Travis Billingham
0 votes Thank Flag Link Sat Jan 2, 2010
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