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Hello, I have two parcels in Rio Grands Estates and would like to sell both of them. Each are.50 acre. Not sure of a value but would like to negotiate something.
I would like to know the price of property in Los lunas, new mexico. I have some property in Rio Grande estates. Is the area developing around that area?
Last edited by Poncho_NM; 06-27-2016 at 01:48 PM..
Be Veeeery Careful about buying land without access to Utilities and 1 acre or less in parts {or possibly the whole State} of New Mexico. Many places require More land for house and septic systems now, or you won't be able to build.
And you need to make Sure that you'll have access to WATER.
Very Important
{and it cost Alot to run electricity from roads to house too}
Perhaps this home "sub-division" you're posting about has All of this covered, perhaps not. Check it out.
Lest these have been my understanding for about the last year, when new laws started to go into affect.
If I'm wrong or misunderstand- folks, Post it Ok?!
Need at least 1 and 1/2 acres to build now? Or is that only Counties and in Southern NM?
This thread reminds me that I have been wondering for a while what the deal is with these land parcels - Ranchettes, Estates.... (like the ones in Deming, or Rio Rancho Estates where they only developed a portion of the purchased lots).
Out just past Moriarty is Estancia Valley Ranchettes, which people sell on ebay. I could drive out there to see what they look like, but I suspect it is rugged dirt road through undeveloped lots without utilities, and perhaps not enough land to dig a septic.
What is the deal with the Rio Rancho Estates? How much of that is actually undeveloped?
These little land parcels all over the state are very suspect in my mind.
Are we running into the same issue with the larger subdivided parcels out in the rough? I refer to the large parcels of land south of Grants and north of I-10 (yes that is a wide area but I think they are selling acreage all in that area) and the large acreage parcels in SE NM (I have seen some around Ruidoso for higher price than the ones in SW NM).
Now that I live in NM, I understand the complications with buying land out here, but if I lived somewhere else, looking for some cheap land to retire on, and came across the ebay land listings, I can see how one could get suckered.
editing to add: I think I am finding the answer to my own question
http://www.nmlots.com/
"Buyers from other parts of the country often have no idea how the presence or absence of water affects land values in arid New Mexico. Valley of the Estancia Ranchettes covered several square miles east of Moriarty and some people did jail time for it. I have been at Torrence county tax sales where people were buying these one acre lots for back taxes in the amount of $100 or so. Maybe they will make out eventually, but it's going to cost someone(s) a bundle. Why is that you ask? If you drill a well in most areas out there you will go down about 600' where you will find a plentiful supply of salt water. So you have just spent about $6,000 to find out you are going to have to truck in water if you want to live on your land. "
The Rio Grande Estates consists of thousands of acres that stretch across Southern Valencia County and Northern Socorro County.
Article:
High Hopes and Worthless Land
Published in The New York Times
November 6, 2005
My father's bad investment
SOMETIME in 1965, a salesman from the Horizon Land Corporation sat down on my parents' floral-patterned sofa on Long Island. Before he left, he persuaded my father - then earning about $8,000 a year - to buy two half-acre lots just south of Albuquerque, in what he promised would soon be the bustling town of Rio Grande Estates. The price was about $1,000 a lot, payable in monthly installments.
The neighborhood Socorro Co. "forgot"
Some residents feel neglected
Updated: Thursday, 24 Jun 2010, 3:03 PM MDT
Published : Tuesday, 22 Jun 2010, 10:00 PM MDT
Reporter: Kim Holland
SOCORRO COUNTY, N.M. (KRQE)
My Grandfather bought 4 ac (lots) around 1954.....all these years the tax's have been paid. And it is still worthless...$5 each a year. I spoke to N.M. again last year and was told the projection of roads power ect was at least another 50 years.
The sad thing is all that land and with what is going on today, That land would make for a great place to build AFFORDABLE homes. And the fact that if industry was to bounch back N.M. seems to want it.
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Rio Grande Estates
