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I'm considering buying land in NM as well. Thanks for the tips given in this thread.
If it turns to be a wasteland, sit on it...you will profit from inflation, anyway.
Absolute nonsense. There are plenty of places in New Mexico and Colorado where values of "wasteland" have not kept up with inflation, without even considering the carrying cost--most notably property taxes. That shallow statement is like saying all stocks always go up in value--even the crappy ones. The statement about real estate values especially rings false now, when we are likely entering what may be a long-term bear market in real estate. Real estate has enjoyed a long-term bull market, to be sure--long enough to seduce people into thinking that it can only continue to go up and that any real estate investment is a good one. That thinking has, as it usually does, created a huge speculative bubble that now is bursting. Of course, there are some that would say that having some Western land owners fleece a bunch of out-of-state tenderfoots out of their money is just dandy--especially on some sight-unseen little piece of the "Old West." After those suckers find out what they've bought, maybe they'll be game to buy some snake-oil, too--helps get that bitter taste out of their mouths.
i dont find any raw land wasteland they have alot for sale in southern colorado, cheap. it might not be for everyones taste but it might be for some. although i do have to agree buying land without seeing it isnt a good idea.
Absolute nonsense. There are plenty of places in New Mexico and Colorado where values of "wasteland" have not kept up with inflation, without even considering the carrying cost--most notably property taxes. That shallow statement is like saying all stocks always go up in value--even the crappy ones. The statement about real estate values especially rings false now, when we are likely entering what may be a long-term bear market in real estate. Real estate has enjoyed a long-term bull market, to be sure--long enough to seduce people into thinking that it can only continue to go up and that any real estate investment is a good one. That thinking has, as it usually does, created a huge speculative bubble that now is bursting. Of course, there are some that would say that having some Western land owners fleece a bunch of out-of-state tenderfoots out of their money is just dandy--especially on some sight-unseen little piece of the "Old West." After those suckers find out what they've bought, maybe they'll be game to buy some snake-oil, too--helps get that bitter taste out of their mouths.
I agree that there are a whole lot of people who bought land when they shouldn't have. Now they're sitting around whining and blaming the whole world for their stupidity. I hope some of them take your post to heart and drop those prices a lot more.
I agree that there are a whole lot of people who bought land when they shouldn't have. Now they're sitting around whining and blaming the whole world for their stupidity. I hope some of them take your post to heart and drop those prices a lot more.
A lot of people treat land as if it was a commodity or an investment. By doing this you lose your respect for the land and nature. After that the next step becomes developing everything under the sun so that more people can invest and treat the rest of the land the same way. Unfortunately land is a finite resource.
A lot of people treat land as if it was a commodity or an investment. By doing this you lose your respect for the land and nature. After that the next step becomes developing everything under the sun so that more people can invest and treat the rest of the land the same way. Unfortunately land is a finite resource.
Someone hasn't seen the most recent Superman movie...
...the villain decides to create new islands in the ocean, giving him ultimate power!
It costs a few hundred dollars to fly to New Mexico from anywhere - PLEASE do that before buying land unseen. In New Mexico it's illegal to sell land that has no access to it, but other than that you could be in for a bunch of expensive and unwelcome surprises....
I've got some land that I am putting a cabin on between Mora and Guadalupita. It is a beautiful area and there are a quite a few people who are buying and moving in from out of state.
Well, I have a tendency to wax poetic about NM. Perhaps I should have my poetic license revoked. But I do hope it hasn't changed much since I was there.
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