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Centex Homes builds in Santa Fe, Albuquerque, and Rio Rancho. You can make interesting comparisons between the prices of their homes of similar square footage and see that yes Santa Fe is USUALLY more expensive and significantly more expensive.
But not always.
The following is a comparison of prices of new condos of IDENTICAL square footage in developments in Santa Fe and Albuquerque
square - Santa Fe - Albuquerque
feet
1,316 -- $189,900 ---- $195,000
1,576 --- - $212,500 ---- $209,000
Same builder, identical square footage, virtually identical prices -- oh, my goodness.
<moderator cut: per forum TOS, no realtor or home builder referrals/advertising - sorry, cannot allow links>
Last edited by EnjoyEP; 03-26-2008 at 12:43 PM..
Reason: please see forum TOS
Centex Homes builds in Santa Fe, Albuquerque, and Rio Rancho. You can make interesting comparisons between the prices of their homes of similar square footage and see that yes Santa Fe is USUALLY more expensive and significantly more expensive.
But not always.
The following is a comparison of prices of new condos of IDENTICAL square footage in developments in Santa Fe and Albuquerque
square - Santa Fe - Albuquerque
feet
1,316 -- $189,900 ---- $195,000
1,576 --- - $212,500 ---- $209,000
Same builder, identical square footage, virtually identical prices -- oh, my goodness.
<moderator cut: per forum TOS, no realtor or home builder referrals/advertising - sorry, cannot allow links>
Please note: the link cut was the source of the data. I guess you either have to take my word for it or message me if you want the link.
Santa Fe has the most expensive zip codes - three out of the top five in NM.
Yes, Mortimer, also great numbers.
But other places in New Mexio have two of the five. And as ABQ and LC continue to grow and prosper, you will soon have three or even four.
Point is, you are not so different from us as you would all like to pretend. ABQ is no longer just a wide spot on Route 66 with the good old boys hanging around the gas station waiting for Martin Milner and George Maharis to pull their Corvette in to refuel.
I'd make the comparison this way. A house that sells for $250,000 in Santa Fe, with a small piece of property, and in a neighborhood with similar feel would sell for $170,000 or so in Albuquerque. In Albuquerque, you could buy a house in the Far East Heights, that backs up to hiking trails, for $400,000 and in Santa Fe, find a similar house in a position backing up to the mountains here, that would cost twice that. So, in some cases, Santa Fe can be twice as expensive as Albuquerque. Downtown areas would be another example of that.
Condo comparisons on square footage and age don't mean much unless you know the monthly maintenance fee, and also the location.
Houses are so much cheaper in Rio Rancho and Albuquerque that there are many people who work in the state capitol, Santa Fe, commute the 50+ miles which takes an hour or more.
Santa Fe has its more reasonable surrounding areas....Eldorado (big lots, nice houses...start in the $300,000 range), Pecos (20+ miles away), and parts of Santa Fe County. (mobiles galore), starting in the $150,000 range and a little more of a commute than Eldorado but not as much as Pecos.
The good thing about Santa Fe's prices is that they are nothing like Aspen or San Francisco.
I'd make the comparison this way. A house that sells for $250,000 in Santa Fe, with a small piece of property, and in a neighborhood with similar feel would sell for $170,000 or so in Albuquerque. In Albuquerque, you could buy a house in the Far East Heights, that backs up to hiking trails, for $400,000 and in Santa Fe, find a similar house in a position backing up to the mountains here, that would cost twice that. So, in some cases, Santa Fe can be twice as expensive as Albuquerque. Downtown areas would be another example of that.
Condo comparisons on square footage and age don't mean much unless you know the monthly maintenance fee, and also the location.
I'm sorry but you are applying a double standard of evidence. Iwas making a very limited point. At the low end of the housing market, condo prices in Santa are not that different from those in ABQ. I provided a comparison of actual condos on the market with identical square footage and the same builder. The same builder and identical square footage -- we are not going to see a big difference in maintenance. If you want to dispute my conclusions then you need tell me that the ABQ condos are in a better location. But If have to tell you, the Santa Fe condos are in a perfectly good neighborhood -- bus service, close to the major shopping areas, and not even that far from the Plaza. So you are going to have to tell me that the ABQ condos are in a fantastic location.
Now my citation was cut out -- so the evidence is not there. But complain to the moderator who tolerates flagrant real estate ads, but cuts out mine which was up there for comparisons of accurate comparison and analysis. If you want to see the site, send me a message.
You then give very vague comparisons of hypothetical houses you seem to have come up with based perhaps generalizing from experience -- not quite the same as real housing on the market. So everything that is wrong with my comparisons is wrong with yours plus more.
I suspect that in some ways -- despite your data -- that you are right and that once you move away from condos to single family homes and the bigger the lot for that single family -- yes, Santa Fe is more expensive than ABQ. And that the current comparability in price for condos may be a function of the current prices in Santa Fe. But the equality in price and a FACT.
And yes -- you are correct -- as you move closer to the plaza, prices go up in Santa Fe. So stay away from the Plaza. I suspect that you don't have a similar phenomenon in ABQ, because well -- it doesn't have a center that I have ever been able to find.
But don't go for overkill -- you can make your basic points without attacking my data -- which is much much better yours and makes a more limited point.
> ... as you move closer to the plaza, prices go up in Santa Fe. ...
> ... I suspect that you don't have a similar phenomenon in ABQ, ...
> ... it doesn't have a center that I have ever been able to find.
I suspect (note that I "suspect," but don't "know") there are similar phenomenon when you get close to 'view' points or desirable areas. A home a few blocks away from the University is likely to be more expensive than one a dozen blocks away.
It might be the same situation with houses near the Nob Hill shops at Carlisle & Central.
I sure is for homes in N Albuquerque Acres (in general, area N of Paseo) where an acre of land in Sandia Heights is over $1 million in a 'view' spot and under a quarter million and lower as you get closer to the freeway.
There are some new places in the High Desert off Academy where the builders are asking almost $700k for places that might go for half that West of the river.
Oh, that's another one; across the river - the price goes way down.
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When we first moved here, my spousal unit wanted to live in the foothills where she could have mountain views.
Partially to 'help' her 'decide' to move here, I agreed, but would have preferred a Nob Hill location - even ghetto.
Later, she decided that she likes it a lot down there.
Should we later decide to move, I sure would pay a premium the closer I got to the University area.
I won't quote you, because your comments are close above.
But are we in disagreement? I don't think so. (Notice I said 'think'.)
There is a difference between a defined "center" which is more characteristic of Santa Fe as opposed to a number of more desirable (as defined by prices) locations which I suspect (note word choice) is more characteristic of ABQ.
The disadvantage of a single center as in SF is the astronomical prices as you get close to that center. When you look at upper end prices, then part of the difference between SF and ABQ is the premium some pay for the prestige of living close to the center.
The good thing about it is that the SF center is not particularly a place I would want to live anyway -- I don't make choices based on prestige, but practicality -- being close to work, recreation, shopping etc.
I don't think so either. I was just pointing out some price/value variances that I have noticed.
Santa Fe's city center is like a vortex where affordability drops off into the abyss as you get closer for the reasons you cited.
Albuquerque simply has some slopes in certain areas.
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