Rio Rancho real estate market
As most of us know the real estate market is not too good. But the Rio Rancho real estate market seems to be hanging in there. Located in New Mexico, the Land of Enchantment, the housing market has not been hit with that bad of a downturn.
How do I know this, I just had my house appraised and the appraisal came in right where it should have. Maybe not as high as it could have been a couple year’s back, but still very good for a real estate market that I hear and read is just terrible.
Now I know there has to be some area’s of New Mexico that has been hit worse than Rio Rancho, but I don’t know where those cities are. Maybe Albuquerque or Las Cruses or up north in Farmington, but I don’t know for sure.
What I do know is the Rio Rancho real estate market is doing just fine. I see houses for sale in my neighborhood go up for sale and in a couple month they have a sold sign on them. I would imagine that pricing the homes has a lot to do with the sale. Rio Rancho homes for sale where I live are also doing good and I don’t see this big market downturn that I hear and read about.
So the Rio Rancho real estate market is doing better than other parts of our great nation and I should not complain. New Mexico is a great place to live and raise a family. Low crime, good schools and more, makes the land of enchantment just great in my book.
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The Rio Rancho real Estate market was hanging in there pretty well when you wrote this. In fact, Rio Rancho home sales were off the charts in the spring of 2010, but now they have returned to their previously slow pace.
What your house appraised for and what you could actually sell it for for are two different things in today’s market. How many times have I seen ads “Selling 10$ below appraisal.” However, compared to other parts of the country, Rio Rancho real estate is doing very well.
Yes Rio Rancho is hanging in when compared to other parts of the country. Thanks for your comments.
Steve
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