Rio Rancho lies to the north and west of Albuquerque and is the third largest city in the state of New Mexico. Residents who live in Rio Rancho appreciate the good schools and low crime. There are a wide variety of homes available, all the way from foreclosure homes to luxury homes, newer homes to older homes, and pool homes too.
There are construction issues that you need to be aware of with the older AMREP homes Rio Rancho, including problems with old polybutylene pipes. Learn more about polybutylene pipes.
Instead, I would recommend that you take a look at some of the newer home areas like the Cabezon, Loma Colorado and Northern Meadows neighborhoods. In those areas you can find much newer homes built after 2000. Many home shoppers like newer homes because they are more energy efficient and built to modern building code. They like the fact that the floorplans are much better with open floor plans, larger bedrooms and larger closets.
Homes sales have lagged behind Albuquerque until recently. Over the last several months the numbers are catching up. Year over year sales were up 10% in January, 29% in December, and 21% in November 2013.
Distressed property sales - foreclosures and short sales - which have been on the decline in Albuquerque, are still a big part of the Rio Rancho real estate market.
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