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A LOOK AT ALBUQUERQUE
Albuquerque has one of the highest elevations of any major metro area in the United States, with an elevation ranging from 4,946 feet at the Rio Grande to 6,559 feet above sea level, and is bordered on its east side by the 10,300 foot peak of the Sandia Mountains. Residents enjoy an average of 310 days of sunshine per year, and are blessed with a mild, dry,climate and four distinctly beautiful seasons. Very low humidity means that even when temperatures rise, summer is comfortable, and our sunny winters are comparatively mild. This makes Albuquerque an ideal location for both summer and winter outdoor activities.
The Albuquerque Metro area consists of four counties located in central New Mexico with a population of more than 800,000 people. The two largest cities within the metro area are Albuquerque and Rio Rancho, with a host of smaller towns and suburbs north and south is Central Avenue which was once known as "Old Route 66." The east/west dividing line is Broadway Boulevard.
NW - The Northwest Quadrant
This is the most diversified of the quadrants. It includes the North Valley area where prestigious residential and rural horse ranch properties parallel the east banks of the Rio Grande River. Across the river on the west side you will find two distinct residential areas: The West Bluff area, bordered on the west by Coors Blvd. and on the east by the Rio Grande River, is where you iwll find primarily custom residences overlooking the Rio Grande River and enjoying spectacular views of the Sandia Mountains and City lights. West of Coors Blvd., more traditional subdivision-type neighborhoods can be found. The West side has been host to a major percentage of the city's growth within the past ten years, including the home to New Mexico's second largest shopping mall - Cottonwood Mall; as well as a great deal of new retail development, new restaurants and services. Highly desirable neighborhoods such as Oxbow communities and Black Fram Estates
can be found on the west side. The West side provides the entrance and connection to Rio Rancho and Corrales. Much of the west side is very convenient to downtown and
making up the remainder of the metro area. Rio Rancho has grown rapidly since its incorporation in 1981, and today is home to more than 70,000 residents. The City of Albuquerque (population over 523,000) provides a central downtown district, a well-maintained historic area, an international airport and the greatest majority of the industrial, commercial, and residential development in the state.
Historically, Albuquerque's residential real estate has been among the most affordable in the nation. In spite of recent challenges in the market and a slowing of sales, Albuquerque real estate continues to appreciate and its market remains strong.
HousingPredictor.com has once again chosen this area as one of the top 25 markets in the U.S. for 2008, citing the recent announcements of new businesses moving to Albuquerque. It has placed the city on its Lucky Seven Investor Forecast predicting it will remain a good place for investsors looking to make a profit. It was also chosen (again) as on of the best cities for jobs by Forbes, Inc.
Regions Of The City
Albuquerque is divided into four quadrants: NW, SW, NE and SE. The dividing line for the North Valley.
SW - The Southwest Quadrant
This quadrant is primarily rural and agricultural and often referred to as the South Valley. However, there are areas located within this quadrant with residential subdivisions including the renowned Old County Club neighborhood. Lushly landscaped and quiet, this neighborhood is considered one of the most desirable locations in the city. Much of downtown Albuquerque is also located in the Southwest quadrant, where the revival continues.
NE - The Northeast Quadrant
Most of the expansion in this quadrant has been near the base of the Sandia Mountains. The Far NE area & Sandia Heights area has a high desert setting with spectacular views of the city lights. The northeast area is a mixture of residential bordered by office and retail services in a grid type street system, offering a variety of price ranges. Some of the most affluent subdivisions lie within this area, including Sandia Heights, Tanoan, High Desert and Glenwood Hills. Closer "in", the University of New Mexico area is extremely popular and also offers a variety of middle and upper middle income housing opportunities.
SE - The Southeast Quadrant
In this quadrant you will find Kirtland Air Force Base which includes Sandia National Laboratory and the Albuquerque International Airport. Housing developments include Four Hills which has a desirable country club, the well-established Ridgecrest area and the refreshingly contemporary Willow Wood & Volterra. This quandrant is also home to the newly constructed ABQ Studios within the boundaries of the new masterplanned community, Mesa Del Sol.
City Guidehigher elevations) annual snowfall averages a total of only 6 inches, although could be more depending upon where one lives within the City. Sandia Peak Ski Area, only a 30-minute drive from the city, or a tramride up the
Albuquerque was founded in the year 1706. Its average elevation is 5,314 feet.
Did you know that Albuquerque is acutally, on average, higher than the mile high city of Denver?
Size of the City
Albuquerque is roughly 133 square miles. The Albuquerque Metropolitan Area is home to about 750,000 residents. The elevation ranges from 4,900 to 6,500 feet. The metropolitan area of Albuquerque includes the city of Albuquerque, the surrounding areas of Bernalillo County, and the communities of Rio Rancho and Corrales in neighboring Sandoval County. In close proximity is the East Mountain communities and Placitas to the north on the way to Santa Fe.
The Weather
Albuquerque enjoys four distinct seasons, but all are characterized by sunny days. Humidity averages a comfortable 43%. Temperatures ordinarily average a high of 77 degrees and a low of 42 degrees year-round. Annual rainfall averages about eight inches a year. Did you know that we average about 350 days of sunshine each year?
Although Albuquerque receives snow several times each winter (some winters we have no snow except in the mountain, averages 183 inches.
Employment
Job growth in Albuquerque is steadily climbing!
The unemployment rate for the Albuquerque metropolitan statistical area (MSA)was
3.7%, less than the national average of 5.0%. New Mexico added 7,300 jobs in 2007 and ranked 28th for job growth among the states (data provided by NM Dept. of Workforce Solutions.) The Albuquerque metro area accounts for nearly half of all the economic activity in New Meixco. The seasonally adjusted unemplyment rate for Albuquerque was 3.5 % in December 2007 - one tenth of a percentage point lower than the December 2006 rate of 3.6%
Below are some of the key growth industries or areas for Albuquerque.
MESA DEL SOL: The Future of Albuquerque
The future of Albuquerque's ubusiness and residential expansion is closely intertwined with the 25 square nile development on our South Mesa. This mixed use plan calls for a mosaic of businesses, homes, schools, parks, shops, restaurants and open spaces. Two key companies are already there - Albuquerque Studios and ADvent Solar. Three more companies - Fidelity Human Resources Services Co., Schott Solar and Sony Pictures Imageworkds have committed to join them by 2009. These businesses represent up to 6,600 new jobs for Albuquerque with retail and services needed to support them. Business development like this will support the strength of the existing home market in the near future while fueling new home building in the mid and long term.
FILM INDUSTRY
In addition to Albuquerque studios and Sony Imageworks, Rio Rancho will sonn be ther home for Lions Gate Studuios. Supporting businesses are beginning to move to the Metro Area as well. This industry will continue to grow dueu to the State and City incentives offered to production groups. Additionally, the Central New Mexico Community College has begun designing programs to train below the crew line, and UNM is developing an interdisciplinary digital/media arts program to support the burgeoning industry.
AERO SPACE
Eclipse Aviation, AeroParts Manufacturing, Aspen Avionics, GE Aircraft Engines, Sun Country Industries, Aero Mechanical Industries, Devore Aviation, Vibrant Corp. and the expansion of Double Eage II Airport represent new and growing aero space companies in the Metro Area. Eclipse alone plans to hire another 700 employees in 2008.
SOLAR POWER
Schott Solar and ADvent Solar in Mesa Del Sol join Emcore, UniRac and Sterling Energy and several other companies in researching, developing and delivering advanced solar power. This is an indsutry that clearly supports our sustainability initiatives for the City of Albuquerque.
Housing Costs
The Albuquerque real estate market was rated the most likely market for appreciation among the top 100 markets in the nation, according to Housing Predictor, Fall 2007. For 2007, the average selling price of an existing single-family detached homes was $237,397, according to the Albuquerque Metro Board ofRealtors.
EXISTING HOME SALES
While there has been a slowdown in unit sales for the Albuquerque market resulting in increased inventory, there has only been slight pressure on price - mostly in the luxury home market. The average price for a home increased by 6.3 % in 2007. Steady appreciation and the influx of new employers will help keep prices strong.
In spite of the price increase, the larger inventory means buyers have more choice, greater expectations and demand more incentives from sellers. Buyers expect properties to be in top condition - "as is " properties are being bypassed for "move in condition" offerings. Homes cannot be "priced right" , they must be "priced aggressively".
Because of the inventory, some properties are on the market longer. As of January 2008, the average number of days on the market for properties that sold was 91 compared to 50 days in January 2007. Todays market is complex and today's real estate professional is mandatory for sellers to assist with staging, pricing, marketing and negotiating with buyers. Likewise, buyers benefit by working with a professional for strategizing and negotiating with seller's agents.
WHY IS THERE MORE INVENTORY?
As of mid-January 2008, there were more than 6,600 residential listings on the local MLS system, marking an all-time record for the area. This represents an increase of 60% over the 4,098 properties available in January 2007. The increase represents several market factors. The hesitancy of buyers to enter the market in light of recent mortgage industry problems is one factor. Leading economic indicators predict that home values in Albuquerque should contine to appreciate in 2008, if only at the modest estimate of 3.5% according to HousingPredictor.com.
Cost of Living
A national average of 100 points.
Albuquerque - 101.2
State Taxes
New Mexico has a graduated state income tax. The statewide gross-receipts tax of 5% applies to essentially all goods and services. The total gross-receipts tax in the Albuquerque Metro Areas ranges from 6.0875.375% to 7.125%.
Duke City Facts
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Albuquerque was founded in 1706. It is one of the oldest inland communities in the United States.
Albuquerque's elevation is 5,314 feet - the highest metropolitan city in the American mainland.
Within a day's drive of Albuquerque are nine national monuments.
Albuquerque is the Hot-Air Balloon Capitol of the world. The city hosts the annual International Balloon Fiesta - the largest international hot-air balloon competition in the world. The event lasts 9 days, features more than 900 balloons and 1100 pilots every year, and draws crowds of more than 1.6 million people. The fiesta is held anually in early October.
The Rio Grande Zoological Park is considered one of the finest zoos in the country.
Cochiti Dam, 45 miles northwest of Albuquerque, is the second-largest dam west of the Mississippi.
The aerial tramway just east of Tramway Boulevard in Albuquerque stretches 2.7 miles up into the Sandia Mountains. It has the longest span of any tram in North America and the third longest of any in the world, and it is the longest single-span tram on Earth.
The median age in Albuquerque is 35.7.
Intel Corporation, whose plant in Rio Rancho is one of the largest employers in the state, is the world's largest producer of computer microchips. In addition to containing approximately 1,000 miles of interstate highway, New Mexico also contains the oldest capital city in the U.S. (Santa Fe), the oldest continuously occupied city in the U.S. (Acoma's Sky City), and the largest known caves in the world (Carlsbad Caverns). |
Greater Albuquerque
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Average cost of a single-family home in February 2008 was $252,592.
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The following averages are stated for 2007
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South Valley and southwestern areas: Average list price was $137,630
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North Albuquerque Acres: The average price was $616,766.
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ABQ Acres West: The average price was $350,358.
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UNM area: The average price was $302,291.
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SE Heights: The average price was $180,453.
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Foothills North: the average price was $553,115.
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North Valley: The average price was $429,069.
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West River Valley: The average price was $366,000.
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Paradise Hills: Average price was $252,026
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Downtown: The average cost was $189,509
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Corrales: The average home rose to $504,745.
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Rio Rancho: Average price is $273,153
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Placitas: Average home prices hit $522,433.
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East Mountain Areas: Average price is $254,003.
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Bernalillo: The average price is $299,703.
Neighborhoods
Nob Hill, University Area: The Ridgecrest areas lies just south of the charming and historic Nob Hill District, which features some of the city's most enjoyable shopping and dining opportunities. Also nearby is the University Of New Mexico area, which also offers proximity to the busy arts and culture scene of the city's college community.
Downtown Area: Even closer to downtown is the affluent and exclusive Huning Castle or Country Club neighborhood near the Rio Grande. Small, tightly-knit, lushly landscaped, and quiet, the neighborhood is widely considered one of the most desirable residential locations in the city. Several less exclusive neighborhoods are also near downtown - many deeply rooted in the history of the city. This downtown area is experiencing a great deal of tastful, upscale revitalization.which stretch into the foothills of the Sandia Mountains along the eastern edge of the city, contain several of Albuquerque's most upscale and affluent areas - Tanoan, Glenwood Hills, Sandia Heights, but contains a wide variety of other neighborhoods as well, including many rental opportunities and condominiums.
The Valley, North and South: For a more secluded, rural setting, properties in the North and South Valley areas include many comfortable homes surrounded by massive cottonwood trees, expansive fertile acreage, and proximity to the Rio Grande.
The South Valley tends to be more affordable, the North Valley more exclusive, but both areas offer short and very convenient commutes to work in the city. Adjacent to the North Valley on the north end, the village of Corrales, with an abundance of small crafts and antique shops (and superb dining options), offers many similar features.
West Side: The city's West Side boasts neighborhoods such as Paradise Hills, Taylor Ranch, which abuts the Volcano and La Boca Negra parks - both Open Space facilities.
The West Bluff area, home to the Oxbow Communities, provides beautiful views of the river, the mountains and the city lights in numerous upscale gated neighborhoods. Black Farm, to the north of Paseo Del Norte, features large luxury homes on 1 acre homesites.
East Mountain Areas: Outside the city, the East Mountain area is gaining popularity with people who seek a more rural, scenic, and secluded alternative to city living. Communities such as Tijeras and Cedar Crest both feature cozy, neighborly atmospheres, easy commuter access to I-40, and green surroundings of tall-trees and soft grasslands.
Rio Rancho, just northwest of the city.
A planned community less than 30 years old, the city is enjoying explosive growth and phenomenal economic development, mainly rooted in the recent expansion of the Intel Corporation microchip plant there.
Rio Rancho's popularity has increased of late, in part to its independent school system, and newly constructed high schools and the city's focus on becoming a wireless community. Rio Rancho is truly forward thinking. Housing of all price ranges is now available, providing opportunities for older homes or new homes. The Rio Rancho Country Club with its golf course and swimming pool has recently undergone a complete renovation.
Placitas offers sites with more land, bigger homes, continuity of architectural style (the community embraces Pueblo and Territorial building styles), a bit more distance from the city, and overall higher prices. an almost hour-long ride. Call World Balloon Corporation (505-293-6800), the fiesta's exclusive ride concessionaire. Besides taking an aerial jaunt, people wanting to do more than watch and partake of the food offerings can get involved by joining a balloon chase crew. The fiesta has a committee set up to handle the crews. To sign up, or to get information on the fiesta, call 505-821-1000. It has the convenience of a small commercial area containing an art gallery, a convenience store, a post office, an outstanding restaurant, and little else.
Bosque Farms/Las Lunas: two smaller towns just minutes away from Albuquerque off South I-25 which are rapidly gaining popularity as bedroom communities for Albuquerque commuters. For those who want to leave the hustle and bustle of the city behind and savor a more simple way of life these communities are hard to match.
AS ALBUQUERQUE GROWS, SO DO THE DEMANDS on its diverse education system. From the Albuquerque Public schools to the University of New Mexico, the quality and range of programs in the city continues to increase in step with Albuquerque's population. As the flagship university, among New Mexico's six four-year institutions, UNM defines a regional and national standard of excellence with its 11 degree-granting programs and distinguished research facilities.
Public Schools: An Overview
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The APS district is the 25th largest district in the nation, with more than 95,000 students. The district's area covers 1,243 square miles, serving all of Bernalillo County.
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APS includes 76 elementary schools (K through grade 5), 23 middle schools (6 through 8), 11 regular high schools, and five alternative high schools for students with special needs. All APS schools offer special educational opportunities for handicapped and gifted students.
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APS funding comes directly from state revenues and is distributed equally to all of the schools. APS alone lays claim to 15% of the state legislature's annual budget for the entire state - and fully 50% of the legislature's General Fund. APS also relies on local property taxes (by mill levy votes) for capital projects.
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You can reach the APS Central Office at 505-842-8211. APS's Community Relations department (505-842-3606) also sends out a comprehensive information packet, including district-boundary maps.
For more information, check the following links:
Albuquerque Public Schools
University of New Mexico
New Mexico State University
New Mexico Tech
Northeast Heights: The city's Northeast Heights, which stretch into the foothills of the Sandia Mountains along the eastern edge of the city, contain several of Albuquerque's most upscale and affluent areas - Tanoan, Glenwood Hills, Sandia Heights, but contains a wide variety of other neighborhoods as well, including many rental opportunities and condominiums.
The Valley, North and South: For a more secluded, rural setting, properties in the North and South Valley areas include many comfortable homes surrounded by massive cottonwood trees, expansive fertile acreage, and proximity to the Rio Grande.
The South Valley tends to be more affordable, the North Valley more exclusive, but both areas offer short and very convenient commutes to work in the city. Adjacent to the North Valley on the north end, the village of Corrales, with an abundance of small crafts and antique shops (and superb dining options), offers many similar features.
West Side: The city's West Side boasts neighborhoods such as Paradise Hills, Taylor Ranch, which abuts the Volcano and La Boca Negra parks - both Open Space facilities.
The West Bluff area, home to the Oxbow Communities, provides beautiful views of the river, the mountains and the city lights in numerous upscale gated neighborhoods. Black Farm, to the north of Paseo Del Norte, features large luxury homes on 1 acre homesites.
East Mountain Areas: Outside the city, the East Mountain area is gaining popularity with people who seek a more rural, scenic, and secluded alternative to city living. Communities such as Tijeras and Cedar Crest both feature cozy, neighborly atmospheres, easy commuter access to I-40, and green surroundings of tall-trees and soft grasslands.
Rio Rancho, just northwest of the city.
A planned community less than 30 years old, the city is enjoying explosive growth and phenomenal economic development, mainly rooted in the recent expansion of the Intel Corporation microchip plant there.
Rio Rancho's popularity has increased of late, in part to its independent school system, and newly constructed high schools and the city's focus on becoming a wireless community. Rio Rancho is truly forward thinking. Housing of all price ranges is now available, providing opportunities for older homes or new homes. The Rio Rancho Country Club with its golf course and swimming pool has recently undergone a complete renovation.
Placitas offers sites with more land, bigger homes, continuity of architectural style (the community embraces Pueblo and Territorial building styles), a bit more distance from the city, and overall higher prices. an almost hour-long ride. Call World Balloon Corporation (505-293-6800), the fiesta's exclusive ride concessionaire. Besides taking an aerial jaunt, people wanting to do more than watch and partake of the food offerings can get involved by joining a balloon chase crew. The fiesta has a committee set up to handle the crews. To sign up, or to get information on the fiesta, call 505-821-1000. It has the convenience of a small commercial area containing an art gallery, a convenience store, a post office, an outstanding restaurant, and little else.
Bosque Farms/Las Lunas: two smaller towns just minutes away from Albuquerque off South I-25 which are rapidly gaining popularity as bedroom communities for Albuquerque commuters. For those who want to leave the hustle and bustle of the city behind and savor a more simple way of life these communities are hard to match.
Balloon Fiesta

The Albuquerque International Balloon Fiesta began in 1972 with 16 balloons. In 1995, some 1.6 million people turned out to watch 670 balloons from 16 different countries.
One of the most popular events is the balloon glow, in which balloon pilots light their burners to illuminate their balloons in a spectacular nighttime tableau. Since then, it has become one of the fiesta's main attractions.
A ride in a balloon will cost $135 to $175 per person, depending on day and time, for an almost hour-long ride. Call World Balloon Corporation (505-293-6800), the fiesta's exclusive ride concessionaire. Besides taking an aerial jaunt, people wanting to do more than watch and partake of the food offerings can get involved by joining a balloon chase crew. The fiesta has a committee set up to handle the crews. To sign up, or to get information on the fiesta, call 505-821-1000.
Links to other New Mexico Companies
& Points of Interest
USEFULL WEBSITES
Albuquerque Economic Develment (AED) abq.org
Albuquerque Green abq.org/sustainability
Keller Williams Realty KW.com
Keller Williams Luxury
Great Albuquerque Association of Realtors abqrealtors.com
Housing Predictor HousingPredictor.com
Mesa Del Sol mesadelsolnm.com
Realty Trac realtytrac.com |