Albuquerque lease to own

5 Replies

I have a friend that is moving to Albuquerque with his family and is looking for a lease option for him primary residence.  I'd love to get some insight on the Albuquerque market from the bp world.  Anyone out there familiar with this market?  Any recommendations on neighborhoods to look at? j

Hi, Jason - 

What kind of house is your friend and his family looking for?  We have a rental property on the west side of Albuquerque (Montano & Unser) which is within walking distance of the Taylor Ranch public library, park and dog park.  It's also within a couple of miles to grocery stores, restaurants, gyms and other amenities.  We would consider doing a lease-to-own deal on this property.  We have a realtor who has worked on these and would be a great help.  The house is three bedrooms, two full baths.  The west side has grown tremendously in the past 10-15 years.  Taylor Ranch is a great, friendly neighborhood and like other places in Albuquerque; it's pretty easy to get around.  

Albuquerque is a bigger town with a small town feel.  The weather is extraordinary - over 300 days of sun, but we still get all four seasons (changing leaves, snow, rain, hail).  There are several nice neighborhoods for families - Taylor Ranch being one of them.  We live in the NE quadrant of the city now.  We get more "weather" on this side of town (closer to the mountains) as opposed to the west side.  But when we lived on the west side we loved the views of the city lights and Sandia Mountains from afar - and we could watch the weather instead of get the weather.  :)  

I would be happy to answer more questions about Albuquerque - just ask away.  What are your friends looking for in their new home and neighborhood?

Sincerely,

Nicole

You did not say why your friend was moving to Albuquerque but if it is for employment and he will be working on the base I would suggest living reasonably close to the base. 

Albuquerque is a very small town in most ways, our rush hour, for example last for about 30 minutes in the afternoon and a little longer in the morning. This sounds good but if there is an accident on the major artery that move people though town it really backs up and their are few alternatives. The neighborhood you choose is somewhat price dependent but if you have to cross the river twice a day to get to and from work it is a pain in the butt. Traveling across town from the North to the South or vice versa is also a pain.

There are good neighborhoods and bad neighborhoods and they are pretty easy to distinguish. I would suggest getting to know the area pretty well before making a purchase unless they plan on turning the purchase into a rental property at some point in the future. 

This is my third time to live in Albuquerque, and I have been here longer than anyplace else at this point. I have lived on the North Side of town, the East Mountains, the West Side and now I live about 30 miles south in Los Lunas. They all have their advantages and disadvantages. It just depends on what you are looking for.  Albuquerque is cheap if your friend is coming from San Francisco, and it is expensive if they are coming from Liberal Kansas.

I would be happy to talk to your friend and give them information and try to be of assistance. 

Best,

Rick

Nicole & Rick, thank you for sharing.  My friend and his wife are moving down to Albuquerque with their 5 young children, so they would be looking for a house that would accommodate a large family.  They will be staying at a friend's house for a month or so but want to settle in somewhere as soon as they can.  I'll definitely suggest that they check out Taylor Ranch.  How is the overall RE market in Albuquerque at the moment?  What's the foreclosure inventory in the area?

Jason, our little 3 BR, 2 BA house would be tight, wouldn't it?! :)  

The better public schools are in the Northeast Heights.  Top elementary schools include Double Eagle Elementary, Northstar Elementary and Georgia O'Keeffe Elementary as well as a couple others.  There are definitely bigger homes in the North Albuquerque Acres part of town, and I believe there are rentals and lease-to-own properties in that area.  Our realtor who is a real go-getter is Valerie Almanzar with Keller Williams Realty.  Her phone number is (505) 681-6261 and her web site is: http://www.findyourcasa.com.  She can give your friends the current scoop on the ABQ RE market.   From Business Weekly articles I've read it looks like the market is getting stronger and sales are up.  I'm not sure about foreclosures, but Valerie would know that.  How soon are your friends moving?

Thanks for the info Nicole....They arrived in Albuquerque is past Saturday.