Once a part of Albuquerque, with 82,000+ residents, Rio Rancho, located within Rio Rancho Estates, is one of America's fastest growing cities. Rio Rancho has job opportunities, anchored by Intel, shopping, and affordable housing (homes can be found in the $100,000+ range). For the golf enthusiast there's High Resort, a community surrounding a golf course. Rio Rancho has three fire stations, a library, city water and sewer service, twenty nine parks, and two pools.
Shining Stars Preschool (3 and 4-year-olds)
10 elementary schools (K-5)
4 middle schools (6-8)
Cleveland High School (9-12)
Rio Rancho High School (9-12)
Independence High School (9-12)
Rio Rancho Cyber Academy (6-12)
Patrick F. Montrose - REALTOR®, BA, MAT
Certified Relocation Specialist
Coldwell Banker Legacy Realtors
6767 Academy Road NE
Albuquerque, New Mexico 87109
(505) 857-2344 Office Direct Line
(505) 239-4253 Mobile
(505) 821-0399 Fax
(505) 828-1000 Main Office Front Desk
Rio Rancho Estates: In the early 1960s the AMREP Corporation purchased 55,000 acres of land on the outskirts of Albuquerque, originally called Rio Rancho Estates. This was the beginning of Rio Rancho . AMREP platted and sold this land as Rio Rancho Estates in half acre and one acre lots to thousands of absentee property owners through mail order sales in the 60's and 70's. AMREP sold 77,000 lots to 40,000 buyers for $200 million at $795 for one half acre and $1,495 for one acre, while retaining over 25% of the acreage for future development. AMREP marketed the area to residents in the Midwest and Eastern states. Home building began in 1962, many of the first residents were middle-income retirees. In 1966, the 100th family moved to Rio Rancho and and Rio Rancho Real Estate started to take off, by 1977 the population had grown to 5,000. In 1971 AMREP purchased and platted an additional 35,000 acres. Rio Rancho Estates was now 92,000 acres and larger, geographically, than the city of Albuquerque. By the early 1980s Rio Rancho was incorporated, it's population had reached 10,000. A new financing program, offering low interest home loans changed Rio Rancho from a retirement community to a community attracting young families. Today Rio Rancho offers a cultural diversity within its population of 72,000+. Other builders have now moved into the area, giving the home purchaser a wide variety of home styles to choose from in Rio Rancho Real Estate.
During the 1960's and 1970's AMREP heavily marketed lots in Rio Rancho Estates, to people along the East Coast, as a place to build a retirement home in the future. If you are are one of the people that bought a lot, or someone who has inherited one, contact me for information about your property if you've decided to sell it. We can help you determine if development has reached the Unit your lot is in, how to find it, and if you decide to market your lot we can help determine its Fair Market Value. While I would like to be able to provide this service to everyone, time constraints force me to restrict this service to people who agree to use my services to market their property. I receive an average of thirty e-mails a day with inquiries about Rio Rancho lots, and it takes a large amount of my time to research the information needed to arrive at a Fair Market Value for the land. To send an e-mail, click here: RRE@PatMontrose.com .
There are a variety of people trying to make money from long time holders
of Rio Rancho Estates lots. They are offering everything from maps, to insurance, to newletters, to purchasing your lots for
small sums of money. The latest scam is that the caller will tell you your lot is worth $25,000; $30,000 or more; all you have
to do is send then $749 (or some similar amount) to cover their costs, and they will have or find a buyer for your lot(s). Do
not fall for this, no real Realtor will charge you an up front fee to sell your lot(s).
Currently lots in unimproved areas of Rio Rancho estates are not selling, unless you take the $1,000 (or similar amount) offer you have received either through a telephone call or in the mail. My advice is to wait out the currenty downturn in the real estate market, keep an eye on your taxes, if they are raised significantly, call me and I'll let you know if the area around your lot is being developed. Keep in mind, there is little development going on at this time, my best advice is to hold onto your lot(s) and wait for the market to pick up. Forbes Magazine has listed the Albuquerque Area as one of the areas that will make a real estate comeback, in the first tier of areas to recover.
Currently, the only lots selling in Rio Rancho Estates are those in totally undeveloped areas for very small sums of money or those located within the city limits of Rio Rancho and that have full infrastructure (not all lots within the city limits have streets, utilities, electricity, etc and when the city brings in the infrastructure they are assesing individual lot owners for the section for the improvments that extend along the street side of their properties, these assesments can run as high as $22,000, payable over 10 years), those lots may sell to someone who is interested in building a home that has the utilities and roads already in. Unless the money is really needed at this time, i would wait until the Area goes through a correction, settles down and investors and regular Buyers start contacting Realtors for listed properties.
New construction of large facilities include:
City Centre Development, including new City Hall and the completed Events Center.
New Indoor Aquatic Recreation Center.
New City Library.
New 48,000 SF office complex, home to Waste Management's Regional Offices.
New 50,000 SF Aerospace Components Warehouse.
New 8,000 SF office for Professional Chefs Association.
New 19,000 SF retail center at Hwy 528 and Rockaway.
Lionsgate Entertainment 52.8 acre major motion picture studio.
Loma Colorado Development.
Mariposa, an upscale community, has home construction underway.
New high school for the far Northern area of Paradise Hills.
New UNM West Satellite Campus join by entral New Mexico Communiy College located across from the new City Hall Complex off of Paseo del Vulcan.
Statistics for Rio Rancho Estate Lots as of 2012:
Number of lots For Sale (Active) = 1,723 Lots
The following statistics are for Sold lots in Rio Rancho Estates, both those in undeveloped and developed areas; the lots in developed areas have a Fair Market Value that is much greater than lots that are in undeveloped areas and they greatly effect the higher prices shown. An undeveloped lot can be have a Fair Market Value that is only 10% of a developed lot.
Statistics for Lots sold in Rio Rancho Estates:
Average Sale Price for all Areas of Rio Rancho Estates: $9,245
Medium Sale Price for lots in all Areas of Rio Rancho Estates: $3,500
Days on market: Average= 601 days
823 Lots have sold for under $20,000, with an Average Days on Market of 329, with the majority of the Lots selling in the $2,000 to $5,000 range; the closer a lot is to development, the higher its Fair Market Value.
|Unit 24 Block 18 Lot 24 Rio Rancho Estates- sold||$9,000||0.5 acres||Unit 24 is an undeveloped Area|
|Unit 12 Block 89 Lot 16 Rio Rancho Estates- Sold!||$95,000||1.76 acres||This view lot is near development and is within the Rio Rancho City Limits. Zone Atlas and maps are available to locate the lot. It is one block north of Northern Blvd.|
|Unit 21 Block 32 Lot 16 and Lot 17 Rio Rancho Estates- Sold!||$65,000 each lot||0.5 acres||These lots are near development and is within the Rio Rancho City Limits. Zone Atlas and maps are available to locate the lots. Thet are near the new Rio Rancho City Center.|
|Unit 25 Block 22 Lot 22 and 23 Fletcher Road, Rio Rancho Estates- Sold!||$28,000 per lot||1 acre||Unit 25 is partially developed.|
|Unit 21 Block 32 Lots 16 and 17 Unser Blvd., Rio Rancho Estates, Rio Rancho Sold!||$65,000 a lot||0.5 acres||Unit 21 is the Unit that contains the new Rio Rancho City Hall Complex, Arena, UNM Campus and Movie Studio.|
|Unit 13 Block 15 Lot 32 21st Avenue, Rio Rancho Estates, Rio Rancho. Sold!||$33,000||0.5 acres||This lot is within the city limits of Rio Rancho and is northwest of the intersection on Unser Blvd. and northern Blvd.|
|Unit 25 Block 27 Lot 30 (Elegy Lane)Rio Rancho Estates, Rio Rancho. Sold!||$20,000||.5 acres||This lot is in the far northern section of Rio Rancho Estates, located East of Unser Blvd and North of Mariposa Parkway.|
|Unit 25 Block 27 Lot 31 (Elegy Lane)Rio Rancho Estates, Rio Rancho. Sold!||$20,000||.5 acres||This lot is in the far northern section of Rio Rancho Estates, located East of Unser Blvd and North of Mariposa Parkway.|
|Unit 12 Block 32 Lot 37 Rio Rancho Estates, Rio Rancho Sold!||$30,000||1.1||Great lot, located within the city limits of Rio Rancho.|
|Unit 21 Block 63 Lot 143 Rio Rancho Estates, Rio Rancho Sold!||$20,000||.5||Great lot, located within the city limits of Rio Rancho.|
|Unit 12 Block M Lot 37 19th Avenue, Rio Rancho Estates.||$34,950||.33 acres||Great .33 acre lot, located within the city limits of the City of Rio Rancho.|
|Unit 17 Block 48 Lot 1 (Eucalyptus Road)Rio Rancho Estates, Rio Rancho. Sold!||$65,000||1.1 acres||This lot is within the City Limits of Rio Rancho- At the intersection of Eucalyptus Road and Kim; electric at lot line.|
|Unit 23 Block 70 Lot 5 Rio Rancho Estates, Rio Rancho Sold!||$8,000||.60||Great lot, in an area that has not been built out. Looking for privacy? Like being off of the energy loop? Build your own private homestead or hold for future development.|
|Unit 13 Block 3 Lot 27 Rio Rancho Estates, Rio Rancho Sold!||$35,000||1.25||Great lot for future investment|
|Unit 11 Block 21 Lot 48 (1st Street NW)Rio Rancho Estates, Rio Rancho. Sold!||$24,990||.50||Wallen Builders on NW corner of Sandia, utilities across Sandia. Homes are being built to north of this lot!|
|Unit 7 Block 33 Lot 112 (19th Street NW)Rio Rancho Estates, Rio Rancho -Sold!||$12,750||1.10||Great cul-de-sac lot for future development.|
|27th Avenue in Rio Rancho Estates, Unit 7, Block 74, Lots 52, 53, 54, 55, and 56. Sold!||$12,500 each||5 acres||The lots are in a developing Unit, utilities are at Block 58. Five lots, each are 1 acre!|