Once a part of Albuquerque, with 72,000+ 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, seven elementary schools, four middle schools, two high schools, twenty nine parks, and two pools.

Patrick F. Montrose - REALTOR®, BA, MAT
Associate Broker
Certified Relocation Specialist
Coldwell Banker Legacy Realtors
6767 Academy Road NE
Albuquerque, New Mexico 87109
Pat@PatMontrose.com
(505) 857-2344 Office Direct Line
(505) 239-4253 Mobile
(505) 821-0399 Fax
(505) 828-1000 Main Office Front Desk

Rio Rancho Estates Units

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 site acquired and construction funded for a projected 2009 opening.
New UNM West Satellite Campus location identified, land acquired and planning underway.

Statistics for Rio Rancho Estate Lots as of July 2010:

Number of lots For Sale (Active) = 2,456 Lots Number of lots sold in the last year, July 2009 to July 2010 (Closed) = 167 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 both lots in undeveloped and developed Areas of Rio Rancho Esates: $18,553
Days on market: Average= 212 days
116 Lots have sold for under $19,000 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.

Do you own a lot in Rio Rancho Estates? Investors are sending out letters to lot owners and offering to buy their lots in areas that possible development may occur. Check with me first to make sure you are being offered a fair price, lot owners who list their lot with me get a much higher price for their lots than if they just accept the money offered by these speculators. We also provide, to people who list their lots with us, maps and aerial photographs to locate their lots and to see if there is any development near their lot. If the lot is located within the City Limits of Rio Rancho, we will provide a map that pinpoints the exact location of the individual Lot, if the lot is located outside of the city limits, we will provide a map that shows the Unit and Block (street) of the lot. If you are just gathering information about your Lot, we can provide the maps and aerial photos for a fee, that would be refunded if you decide to list the Lot with us.

Please fill out the form below to receive information about your lot. When you click on the "Submit!" button, it will automatically send your form to me by email. Use the "Tab" button to move around the form. There is no charge for this service. It is being offered to people who are considering marketing their lot with me.

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Request for information about a lot in Rio Rancho Estates:

Rio Rancho Estates Information

Note: * indicates required information- we can't respond if we don't know who you are or what your e-mail address is! Submitting a form does not automatically send e-mail information. We assure you that all information submitted is kept confidential. Please see our Privacy Statement above.

New Mexico is a strict nondisclosure state, information about property can only be given to the registered owner of the property or their representative. Please list below the name and address of the OWNER of the property, as it appears in the tax roles. We are required to match this information up before we can send you information

Owner(s) First Name * :

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If you are requesting the information for someone else please indicate your relationship below, if the information is the same as above, you may leave it blank:

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E-mail (must have to respond to you!) * :

Please reenter your e-mail address to verify its accuracy :

Telephone Number:

Property Information:

Unit Number *

Block Number *

Lot Number *

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Opptional (but helpful) UPC number off of tax bill normally starts with "100"

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I try to reply to e-mails within 24 hours, so you will get your quickest response if you send me an E-mail with the Unit, Block and Lot numbers. I am now getting between 10 and 20 telephone calls a day with requests for information from Rio Rancho Estates Owners. If you are going to list your lot with me for sale, I will accept your telephone call, if you just want information about your lot, please E-mail me. As a Realtor, I make a living helping people buy and sell real estate, I am willing to continue to give people advice about their Rio Rancho Estates Lot(s), but only through E-mails. New Mexico is a non-disclosure state. That means information about real estate is deemed private and confidential. We get daily requests for information that does not include a name and address; we can only give information about a lot to the registered owner of the lot or their representative. We no longer answer e-mails that do not contain a name or address.We have a very strict privacy policy, we do not share your information with anyone. Please click here to view our Privacy Policy.

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