Albuquerque Home Value Trajectory Over 25 Years | ABQ Real Estate Talk
Navigating Albuquerque’s Evolving Real Estate Landscape: Insights and Opportunities
Albuquerque’s population is teetering on the brink of a significant milestone.
As we discussed in the latest episode of Albuquerque Real Estate Talk, projections from macrotrends.net suggest that by 2028, the Metro Albuquerque area is expected to exceed 1 million residents. This anticipated growth presents both challenges and opportunities in our real estate landscape, which Tracy and I explored in detail during our conversation on February 17, 2024.
Addressing Albuquerque’s Housing Needs
With the projected population gain of 1% per year, the necessity for additional housing units becomes glaringly apparent. We saw that growth in Albuquerque slowed during the pandemic with fewer people relocating from out of state. Yet, as we heard from a recent volunteer from California, the movement towards more affordable regions like New Mexico has resumed. To accommodate this inflow, Albuquerque must rise to the challenge of providing ample housing without losing the charm and affordability that make our city a desirable relocation destination.
Attracting New Businesses to Albuquerque
The prospect of reaching 999,000 inhabitants by 2027 and over a million shortly thereafter can serve as a beacon to entice more businesses to set up shop in our area. During our discussion, Tracy and I mused about the possible arrival of new businesses, like In N Out Burger and Nordstrom. These additions to our commercial landscape could enhance the diversity of offerings to residents while upholding the unique local culture that defines Albuquerque.
The Albuquerque Home Value Trend Over the Years
Albuquerque home values – 25 year trend. In our episode, I delved into the Zillow home value index, shedding light on Albuquerque home values over the past 25 years. The trajectory has shown significant increases, especially in specific years, driven by various factors, including inventory levels and homeowner equity. We also highlighted the fact that we offer an equity analysis service, so homeowners can determine their property’s worth in todayβs market.
Zoning’s Role in Real Estate
We explained that zoning is the regulatory framework used to organize land use, ensuring the development of safe, efficient, and environmentally friendly communities. In Albuquerque, the allotment of spaces for residential, commercial, and special use plays a crucial role in mapping out the city’s growth and ensuring it aligns with the community’s needs.
Aiding Affordability: The Role of Assumable Mortgages
Affordability remains a paramount concern in real estate. I pointed listeners toward an innovative assumable loan search tool, which facilitates the process for buyers to assume the current terms of an existing mortgage β often with FHA and VA loans. This can provide a pathway to homeownership while mitigating some lending hurdles, although it’s essential to acknowledge that buyers would still need to cover any existing equity.
Exploring Current Listings and Advice
Tracy and I discussed various properties on the market, from a fixer-upper on Silver Street to a spacious manufactured home in Stanley. We navigated through the details of these listings, sharing insights and tips aimed at helping our listeners make informed decisions in their real estate ventures.
The Power of Preparation
Drawing parallels between the Chiefs’ Super Bowl victory and real estate success, we emphasized the crucial role of preparation. Itβs about creating repeatable systems that guarantee exceptional service for our clients, ensuring each transaction is as smooth and successful as the Chiefs’ game-winning strategies.
Conclusion
As Albuquerque edges closer to a significant population milestone, the responsibility falls on us β realtors, city planners, and community members β to steer the city’s real estate market towards a future that honors both growth and tradition. At Venturi Realty Group, weβre committed to guiding you through this dynamic landscape. For questions or assistance with your real estate needs in Central New Mexico, you can always reach out to us.
Transcript Episode 480:Β
Tego Venturi:
Welcome to Albuquerque Realty Estate Talk with Tego and Tracy Venturi, episode 480, mid February. Tracy, in this week, we have 25 years of Albuquerque home values. We’re gonna break that down. I put a new chart together. Imagine that. Albuquerque population trend. When are we gonna hit a million people in the metro Albuquerque area? I’ve got some data on that. I always have data.
Tego Venturi:
Definitely. Got something good. You’ve got something on rebates?
Tracy Venturi:
Energy Star rebates. Right? If you look online, there are a lot of things that have rebates or tax incentives on them. So we’ll get into that.
Tego Venturi:
Awesome. And then, question of the week was zoning. What the heck is zoning, and why do we need it, and how does it work, and how to understand it? So we’ll break down zoning. And then I’ve got one more thing. Last week okay. So so last week, we spent a lot of time talking about affordability and the affordability challenges in real estate in general, just across the board, renting, buying, Albuquerque nationwide, everywhere. Right? It’s it’s it’s a challenge. But this week, something else popped up on my radar, which was a product to help with affordability.
Tego Venturi:
So I wanted to get into that. But first off, Tracy, introduce us and phone number, and how do we get ahold of us?
Tracy Venturi:
Sure. We’re welcomehomeabq.com, and our phone number is 448-8888, and we’re with Real Broker here in New Mexico.
Tego Venturi:
Thanks. Well, thanks for everybody that that joins us every week. Appreciate your comments on Facebook and YouTube. That’s great. And if you are following or watching us on YouTube, do hit the subscribe button. It just helps us out. We’re really close to hitting a big landmark for the number of subscribers on YouTube. So, hit that subscribe.
Tego Venturi:
We’d appreciate it.
Tracy Venturi:
Great.
Tego Venturi:
Alright. Alright. What do you wanna do for us to do?
Tracy Venturi:
25 Years of home values.
Tego Venturi:
25 Years of home values.
Tracy Venturi:
Interesting. We had it come up this week with a client who wanted to see a chart of 25 years, and it was kind of
Tego Venturi:
the Albuquerque home value, not home prices, but, actually, what what and I used a thing called the Zillow home value index. And what they do is they look at the values of all properties, be they sold or not, and what is the average value over time. And I went back to, 20 no. 2. 2000. No. 1998 for 20 to get to our to get to our 25 years. That was as far back as I could go with with good data.
Tego Venturi:
It’s interesting just so that in in what they do is they look at kinda what the typical home you know, they’re not doing the extremes in the low end. They’re not doing extremes on the high end. They’re kind of just, you know, in that middle range typical home. And in 1998 at the end of 1998, it was a 120 7,617, 25 years ago. End of 23, just here in December, 321,000. You can see the chart on my Facebook, also on our team’s Facebook page at Venturi Team, Venturi Realty on on Facebook or just search mine. It’s TEGO, t e g o, Venturi, and you’ll see it. It’s interesting because it’s striking, Tracy, because you can see that bump from 2,000, 5, six, and seven where home prices, you know, cry climbed dramatically.
Tego Venturi:
And the thing that’s striking about that is you we have that same kind of climb in 21, 2020, 21, 22, 23, and everybody goes, uh-oh. Look. Here we go again. Right? The the thing is you gotta overlay on top of that is the inventory and the number of homes actually on the market. It’s very different case than back then.
Tracy Venturi:
And the amount of equity people have in their homes.
Tego Venturi:
Exactly.
Tracy Venturi:
People aren’t leveraged like they were then.
Tego Venturi:
Yeah. Yeah.
Tracy Venturi:
So good information, Tego. We all like to know what our homes are worth. If you wanna know what your home might be worth in today’s market, even if you’re not wanting to sell, we’d be happy to put that together for you. Just let us know. Give us a call at that 448-8888, and we’ll put together what we call an equity analysis. So an equity analysis analysis is how much you might owe on the house versus what it’s worth, and they a difference is the equity. So we’d be happy to put that together.
Tego Venturi:
I know, you know, most people wanna know what their, you know, net worth is, meaning, you know, how much dollars if they sold everything, how many dollars would they have? And, obviously, equity for most people, equity in their home is one of their biggest assets. So Right. Always good to know. You always like to know. And, of course, it’s been a a a great few years for homeowners. So Right. You know, lot lot of equity out there. Tracy, the other thing was, well, let’s talk about zoning.
Tego Venturi:
This came up, you know, peep it’s it’s in our business, Tracy, we end up just taking certain things for granted that people know what zoning means. And a question came up, and and it was great because somebody was you know, they weren’t afraid to ask. They didn’t, like, act like, oh, I guess I’m supposed to know what this is. They were like, well, what’s zoning? Yeah. What what what is zoning all about, and what does that mean?
Tracy Venturi:
Yeah. Zoning basically are rules and land use regulations that are guidelines set by the government, right, of how to how this this specific land or home can be used. So, like, zoning could be commercial zoning. So it means it’s a commercial property. It could be residential. It could be special use. It could be, you know, whatever. But that’s what it is.
Tracy Venturi:
It’s just a a a rule book for cities and towns that divides areas into different zones. And typically, it’s different zones to keep like pie like kind property together. Right, Tego? So they don’t put, commercial building right in the middle of a residential neighborhood. They kind of group commercial together and residential together, and then there’s sort of some sort of mixed use usually that helps buffer the 2.
Tego Venturi:
Exactly. Yeah. So you’ll put a buffer between so maybe there’s a school, and instead of putting a single family home neighbor right next neighborhood next to it, maybe you put an apartment complex or something in between. Right? So you kinda set up these buffers. I don’t know if that’s a great example, but that would that would be, you know, what what the goal is to make
Tracy Venturi:
Yeah. To make it Yeah. Good for the residential, good for commercial. People think about it. You know, I was in retail before real estate for a while, and and it was like, you see the same types of stores all clumped together, all selling similar products. That’s intentional because people think of that as that’s where I go for furniture, let’s say, or that’s where we go for mattresses. They’re all kind of in the same area, so it’s it’s zoned that way. But, you know, the main idea behind zoning rules and land use reg regulations is to organize a city or town in a way that makes it a nice place to live and work while also keep keeping people safe and protecting the environment.
Tego Venturi:
Yeah. So In in you know, we always talk in terms like, it’s r one or it’s r two or it’s a one or a two or it’s c one or whatever, all these different terms. Right? And in so r one is residential one property per lot. Of course, the City of Albuquerque just changed that and now allows ADUs, meaning an accessory dwelling unit, on an r one lot, which was a big deal.
Tracy Venturi:
Yeah. With with other qualifications as well.
Tego Venturi:
Of of course. And that’s just it. You know, there’s all these there’s there’s rules, and, and so every municipality is going to have rules about land use and what you can do on your property and can’t do on your property. But then on top of that, you might have some other overlays like CC and Rs.
Tracy Venturi:
Right.
Tego Venturi:
KIVA and regulations? Restrictions.
Tracy Venturi:
Restrictions. I don’t know why I got the wrong word in my head. Like, rare yeah. Restrictions. Covenants, conditions. So how you can use that land Exactly. On top of what what if it’s intended for 1 house or one commercial property.
Tego Venturi:
And then you might have an HOA too, a homeowners association or a condo owners association that has other restrictions on what you can and cannot do. So,
Tracy Venturi:
So that’s zoning.
Tego Venturi:
Yeah. Know, you know, know what you’re what you’re looking at. And, you know, the thing that’s really good, I think I go back 20 years, Tracy, in this business, we didn’t have a way to go research that stuff really easily, but now there’s so many good maps out there, like city of Albuquerque. Basically, every county, most cities have what they call a GIS map. It’s an interactive map. I don’t even know what GIS stands for. Graphical. Global.
Tego Venturi:
Yeah. I don’t remember. Anyway, but Geographic. Maps with different layers. And so you can say, okay, show me and you can click on it and say, give me everything that’s a one. So show me everything that’s a one. And and a one is agricultural, residential, generally, but show me everything that’s r one, or show me things that are mobile homes, show me so so you can look at this. But it the other cool thing is if you’re looking at a property, you’re curious what, you know, the lot is behind it that’s sitting vacant, and you wanna know what it’s zoned for, well, you can go look it up, and you should.
Tracy Venturi:
Right.
Tego Venturi:
Right. It’s part of your due diligence of your purchasing. Yeah.
Tracy Venturi:
And that’s pretty common. I know there’s a strip in, right here near us where there was a big open lot behind it, Mhmm. And it was zoned for apartments. And those apartments are now almost complete, but that was probably 15 years ago that we looked it up and we saw that that’s what it was zoned for. But it was vacant for a long time. But at least when we were reselling a house there, we could tell them that is zoned for apartments.
Tego Venturi:
Yeah. Yeah.
Tracy Venturi:
So there you go. Tego, let’s let’s talk about the Energy Star rebate finder.
Tego Venturi:
I wanna call it free money.
Tracy Venturi:
Maybe. Gotta work
Tego Venturi:
for it.
Tracy Venturi:
Energy Star rebate finder.
Tego Venturi:
Okay. You gotta spend money to get money. I know.
Tracy Venturi:
I know.
Tego Venturi:
I know.
Tracy Venturi:
So you wanna get on energy star .gov /rebatedashfinder. And look, because there’s tax rebates as well as rebate rebates. Right? Like, just cash back.
Tego Venturi:
So, like, there’s tax?
Tracy Venturi:
Tax credit.
Tego Venturi:
Tax okay. Got
Tracy Venturi:
it. Credit. Sorry. Tax credits or mail in rebates or other rebates. And some are from, like, New Mexico Gas Company. Some are federal government. Some are New Mexico energy, minerals, and natural resources department. That’s for windows, doors, and skylights, where you can get 500 to $1,000 if you put in energy, star rated windows or doors that you are using to replace.
Tracy Venturi:
So there’s a lot of different things in here. I was going through it. I you have to put in a ZIP code just to kinda find what, what you might find. But clothes dryers, clothes washers, dishwashers, things that are Energy Star, even like mini splits, central air conditioning systems, heat source things, tankless water heaters, smart thermostats. That’s the one that’s most common, I know. When we go to, like, the home stores, a lot of times, the smart thermostats will say right there, qualifies for a rebate. And those light bulbs too. Right? So you might wanna get on that site, energy star .gov/ Realty dash finder, and see if there are some rebates for any projects maybe you’ve done Realty.
Tracy Venturi:
If they allow you to do it in arrears or in the future if you’re doing some work. Right? I might just help you move forward.
Tego Venturi:
Well, when you were just talking about that, Tracy, I just put a mini split in one of our rental properties. So mini split is a heating cool unit, you know, that that goes in a specific Group. And you said it was on the list, so it’s like, now I gotta go check it out and see if if it qualifies. Now it’s a rental property. I don’t know. Maybe that it’s only for your your personal residence.
Tracy Venturi:
It’s still saving energy. Isn’t that the point? That is the point. I would think so. Yeah. Anyway, Energy Star.
Tego Venturi:
Good stuff. It’s a great resource. So, yeah, energy star dot gov or just Google Energy Star rebates, and and you can do a search. You put in the ZIP code and blah blah blah. Yeah.
Tracy Venturi:
Pretty cool. Just Google Energy Star rebates. You’ll probably find it faster than what I said.
Tego Venturi:
Yeah. Yeah.
Tracy Venturi:
How how to get there?
Tego Venturi:
Or you use perplexity, which I’ve been using all the time now instead of Google. So
Tracy Venturi:
no.
Tego Venturi:
Sorry. That’s for all the nerds out there, the AI nerds. So, perplexity, it’s awesome. Okay. Population. I had reason to woah. Don’t bump the microphone. I had reason, Tracy, to search Albuquerque population, so the Albuquerque MSA, the metro area, which is the the 4 counties, Bernalillo, Sanoval, Valencia, Torrance.
Tego Venturi:
And I wanted to know, okay, where are we at now? How much has it grown? And I found a really good resource for it. It’s on, macro trends .net, and this is from the, looks like it’s a combination of the UN as well as Census, But, basically, they’re saying in 2023, in the Metro Albuquerque area, we’re at 900 and 40,000 people in the the 4 counties. And the question is, okay, when do we get to a1000000?
Tracy Venturi:
And does it tell you that prediction?
Tego Venturi:
Based on this, it says we will hit 999,000 in 2027 and go over a 1000000 people in 2028. And that’s based on just a 1% population gain over the next few years.
Tracy Venturi:
So that means we need a lot more housing units.
Tego Venturi:
Yes. And that actually brings me to another conversation I had this week I wanted to talk to you about, and that was the, apartment units. But, yeah, it’s interesting because up until 2018, they were saying that Albuquerque was growing at about 2% per year, but it actually the growth rate actually dropped starting in 2019 all the way through till now. It’s interesting. So, actually, the growth we still grew, but we didn’t grow as fast during the pandemic as everybody thought. Remember that
Tracy Venturi:
Really interesting.
Tego Venturi:
You know how many times people kept saying, oh, the Californians are all moving here and buying all our houses? And I kept saying, no. They’re not. Yeah. No. They’re not. I said, yes. There’s a few, but they’re not there’s not this flood of people coming in here. Right.
Tego Venturi:
And I kept having news people say try to put words in my mouth and say, yes. It’s all those Californias that are driving up our prices. Right? I said, no. It’s not. It’s us. It’s people that live here. And and and I don’t, I’ve got some other data that shows that’s the case that most of the movement, I think the stat was, like, 2% last year came from out of state.
Tracy Venturi:
Very low.
Tego Venturi:
Very low.
Tracy Venturi:
Very low. Yeah. You know, during the pandemic, as I have really
Tego Venturi:
Now, And let let me qualify that because this is important. Right? Because I’m always a stickler on data is it’s 2% of all the homes or all the moves, basically. Right? So so, you know no. I take that back. It’s 2% of the entire population. So it’s actually not you know, it’s a fair number, but it’s not like a crazy big number.
Tracy Venturi:
So, Tego, we were, volunteering this week.
Tego Venturi:
I have no idea what you just talked about.
Tracy Venturi:
Yeah. Moving on. Yeah. We were volunteering this week. We were at Storehouse West in Rio Rancho, helping them for a few hours, putting together bags of food that they distribute. And, one of the gentlemen who volunteers there, he’s been helping them for 2 years. He retired. He’s probably younger than us based on how he looked.
Tracy Venturi:
Very, very healthy, young looking, retired man. And, he retired he moved from California and bought a house in Rio Ranch, Tree and Clear, and and started working at Rust Hospital and then retired. And he’s just been volunteering, but he was somebody that actually moved from California and picked it, kind of just from coming out here and liking it and deciding the cost of living and that, a lot of affordability things were were worth it. And so it was interesting conversation.
Tego Venturi:
Yeah. Well, I think I think there’s you know, we we’ve been saying this for years, Tracy, that that Albuquerque, New Mexico, our Realty, is kind of undiscovered by a lot of places yet, and we’ll see. I think, you know, if we do hit that million that million person if we do hit that 1,000,000 person mark, that will change things. That’s what people say. It’s like once you hit a1000000 people in your metro, it kind of puts you on the radar for a lot of other business search type
Tracy Venturi:
people? Yeah. So I’ve heard that many times. Right? Once you go over a 1000000, lots of different companies are now you’re they’re you’re on their radar to move into. But you know what, Tego? We used to, like it was great when we got to go on vacation somewhere, and our favorite store was there that we didn’t have here, or a favorite restaurant was there that we didn’t have here. Seems like now we kinda have everything we need. Do we really need a big Nord strom’s? No. We’ve got the rack.
Tego Venturi:
Do we need an In N Out Burger? I think that’s really the question.
Tracy Venturi:
Do we do we need beans and brews? Yes. Because that’s Ann Vallejos, and she’s bringing another coffee shop. But, you know, it’s kind of nice to be able to travel and experience different things and not have everything right at your fingertips. But that’s just my take on when we hit the million. So it seems like maybe we’ve been close enough that a lot of places have come in.
Tego Venturi:
I tried to set you up so you could get hate for peep, in, and I tried to set you up to say that we don’t need In N Out Burger because, yeah, that would have not gone well.
Tracy Venturi:
I’ve I’ve seen the threads on the In N Out when they announced it, and it’s still, like, 3 years away or something before we’ll have our first one.
Tego Venturi:
I thought that was on April 1st that somebody announced In N Out Burger was coming.
Tracy Venturi:
No. It’s been a while.
Tego Venturi:
Is it for real?
Tracy Venturi:
It’s yes. But
Tego Venturi:
it’s that was a fake fake news.
Tracy Venturi:
No. It’s, like, 3 years from now. Like, twenty 27 or something they’re playing their 1st one.
Tego Venturi:
See, there we go. Yeah.
Tracy Venturi:
It tells
Tego Venturi:
you what I know.
Tracy Venturi:
No. But yeah. But, you know, it’s fun to be able to go somewhere and go to In N Out Burger because we don’t have it. You know? You can find it in Phoenix or Vegas or Tucson or I don’t know where else. But, you know
Tego Venturi:
West Coast. Yeah.
Tracy Venturi:
Yeah.
Tego Venturi:
Affordability. Can we go back to that?
Tracy Venturi:
Sure.
Tego Venturi:
We did a lot of conversation about affordability last week here on the show in in real estate, in general, in Albuquerque in particular, and it’s it’s a challenge. The and and there’s a lot of different resources. There’s people trying to figure out different ways and mortgage programs and this and that. Right? Well, one thing that I I came across and it’s interesting, and it’s an assumable loan search tool. So it allows you to find homes that have a mortgage that are assumable, meaning you, as the new buyer, can assume the current terms of that existing mortgage. Now
Tracy Venturi:
Sounds complicated.
Tego Venturi:
It does. It is complicated, but it may be worth it to jump through those hoops, because you might be able to find somebody that has a 3% mortgage that you can assume whatever their principal balance is, you still have to qualify though.
Tracy Venturi:
And, Tego, what’s the chance that of those homes that are available are ones that somebody wants to sell and No. They they are the
Tego Venturi:
ones that are on the market.
Tracy Venturi:
They’re on the market, and they’re in the neighborhood and price point that you’re looking for.
Tego Venturi:
For sure. You know? I mean, all stars definitely need to align. Right. However, it is an an opportunity to find some value and take over, not take over, but, basically, well, it’s assumed, the mortgage of of somebody. Now these are gonna be FHA and VA mortgages, so you have to be owner occupied. And, of course, VA, you have to be VA qualified, veteran administration qualified.
Tracy Venturi:
And the VA borrower who currently holds that loan and holds has the house has to know that if their loan is assumable, let’s see, they’re gonna be off that loan then.
Tego Venturi:
Yeah.
Tracy Venturi:
Yeah. It’s it’s not that they’ve taken over their eligibility. So that’s good.
Tego Venturi:
Yeah. So, the this is the catch. So it all sounds great. It’s like, okay. I can take over, you know, a $200,000 balance that’s got a 4% mortgage instead of, you know, the current rate at 8, 7% or whatever it is. The catch is, there may still be there may be $200,000 in equity on top of that. Where is that 200 coming from? That’s the question. So either you have to take out a 2nd mortgage for that amount or
Tracy Venturi:
have the cash. Yeah. Yeah. So it’s it’s great that the tool is out there, but probably not gonna happen.
Tego Venturi:
No. You’re you’re pessimistic. I think people that are looking for opportunity to save some money and get some affordability, it is an opportunity, but it’s definitely not your standard Tego get a mortgage, buy a house kinda thing. Totally. And I never said this. I’m sorry. It’s Assumable dot I o is the website. Assumable dot I o, and it looks like what they are is a I don’t really even know much about this company.
Tego Venturi:
I just came across it last week, and they it appears what they’re doing is they’re searching, public record databases of mortgages, and so they know what the you know, what people have, and they estimate what their mortgage balance is. They estimate what their payment is. And then they also cross reference that against homes that are on the market or have been on the market recently and and and put together this list. But they, I think, are a mortgage company then that is going to help you through this process. I I don’t quite understand the the process. But assumable mortgages, it’s a thing.
Tracy Venturi:
Let’s talk about some houses.
Tego Venturi:
Good idea.
Tracy Venturi:
Fun stuff. So we have a coming soon. 21 zero one silver. Oh, yes. 2101 silver. So that’s right at Buena Vista in silver, just south of the main UNM campus. Yep. Very, very convenient location on the corner of Silver and Buena Vista.
Tracy Venturi:
It’s a very charming could be very charming home. Three bedrooms, 1 and a half bath, 2 car detached garage.
Tego Venturi:
Realty good sized lot?
Tracy Venturi:
Yeah. Good sized yard. The house is livable, but it definitely is ripe for somebody to turn it into a charming gem that it apparently once was. 259.9. And that’s priced according to what people think, it’s going to take to make it that gem. It has, you know, the old original wood floors, but somebody painted them maybe and kind of scratched up and, you know, it’s gonna take some work. Some of the systems need updating. Some of the systems were updated, but a lot of them need updating.
Tracy Venturi:
But it’s Group location and a great opportunity because it’s priced to to know that it does need, like, electrical upgrade. Right? Some other things. So 21 zero one silver. Do you
Tego Venturi:
know what it has that’s rare? It’s got a basement.
Tracy Venturi:
It does have a basement. Yep. And a half bath down there along with some laundry facilities and an extra room that could be hobby or office.
Tego Venturi:
An old big old furnace too. It’s very cool old furnace, but it’s it’s, yeah. No. It it’s, I looked at it. Huge huge potential on that property. Give the address again, Tracy, if somebody want to Google it.
Tracy Venturi:
2101 Silver Southeast. I’m gonna talk about a couple others that are sort of out of area. So 247 Rough Road in Stanley is a, manufactured home, 4 bedrooms on a 160 acres.
Tego Venturi:
Wait. Say that again?
Tracy Venturi:
Yeah. Four bed, 2 bath, $215,000, and it’s a 160 acres in Stanley. So do we all know where Stanley is? You go out through the canyon to the east mountains, and you head north, and you go to Bruce King country. Right? Well, you
Tego Venturi:
go to you, basically, you go to Moriarty, and you take a left.
Tracy Venturi:
Go to Moriarty and go north?
Tego Venturi:
Yeah.
Tracy Venturi:
And then you hit Stanley.
Tego Venturi:
Yeah.
Tracy Venturi:
Yeah. So a 160 acres with a 4 bedroom manufactured home. So that one, I’m I’m surprised at 2/15 that it’s still on the market. It does need to be cash only, because of the manufactured home part of it. So that’s that’s definitely out there. We have another one, in Berlin that I wanna talk about because it’s a 115,500. It’s 187 Garcia Avenue. This is a 2 bedroom, 1 bath, house on, you know, about a 5th of an acre.
Tracy Venturi:
Just a small lot, but a nice little house. It’s it’s ready for a new owner. And if you’re interested at a 1155 in Berlin, you might wanna check that house out itself. In the Terrace area, we have, 49 La Cressida Circle. It’s sort of cabin like, 150,000. It’s also probably cash only. It has some work that was underway, and it needs to be finished. But it’s on an acre in the tall Ponderosas, not too far south on 14, through the Canyon South 14 Yep.
Tracy Venturi:
In Terrace. Yeah.
Tego Venturi:
Kind of Ponderosa area if if people are familiar with that. Yep.
Tracy Venturi:
Yep. And, lots of others. So if you’re looking for something specific, give us a call and see if we’ve got it coming. 448-8888. I know there’s open houses this weekend now that football’s over and now that the Chiefs won the Super Bowl. I know. I talk about it every week. But I I had some bittersweet about that game.
Tego Venturi:
Why?
Tracy Venturi:
Because I really liked Brockportie.
Tego Venturi:
So, you
Tracy Venturi:
know, if the Chiefs would have lost, I would have felt like, well, okay, Brock Purdie won. But, you know, my the Chiefs and my team
Tego Venturi:
everybody’s talking about the 3 peat. So that’s that’s the next the next milestone for them.
Tracy Venturi:
Yeah. You can never be at the top and just stay there and be top. Right? You have to keep growing.
Tego Venturi:
K. I gotta tell you my takeaway from the Super Bowl.
Tracy Venturi:
Okay.
Tego Venturi:
2 things came out of that. 1 was I was watching the interviews after after the, you know, after the game. I think I went to NFL channel and just, you know, kinda watching and talk to different people. And, Patrick Mahomes comes up, and and he talked about how the coaches just hammered into them over and over and over again about what happens during overtime. Tego, like, they were just sick of hearing it, just sick of hearing about what we do at overtime and what the rules are and how it works. And he said, we didn’t even have to think about what we needed to do because we were prepared. We didn’t have to, like, try to remember what we do during overtime and what the rules are. The next day, I heard somebody commenting about how the 49ers did not seem to know what the rules were for overtime.
Tego Venturi:
And, like, it and it would they were 2 totally separate conversations, but they came together then going, yeah, it’s like the 49ers didn’t seem to know what to do, you know, and didn’t quite understand what the rules were regarding overtime. And it’s you know? And so it just it struck me that that’s not the player’s fault. Right? That’s you know, they they they shouldn’t I’m sorry. This is not a sports talk show. But to me, it was more about a story about preparation, preparation, preparation, and over preparing is
Tracy Venturi:
Having your game plan?
Tego Venturi:
Having your game plan and actually knowing what, you know, what is going on and and how to deal with every situation that comes up. So
Tracy Venturi:
Yep. Well, and that’s kind of relates to real estate in that One of the things we do is we make sure we have systems. We have to repeat it. You can’t just tell somebody something once. Right? We have to have repeatable things that make, our clients get the best service, the best marketing, the best whatever to make sure that they’re taken care of as buyers and sellers of real estate.
Tego Venturi:
Yep. You wanna do you wanna outro us here?
Tracy Venturi:
Yeah. It’s always great to be here. We appreciate all of you listeners. Let us know if there’s something that you would like us to talk about or if you have a question of the week that we can help under answer for you. Have a great weekend, and it’s almost feels like spring is coming this week, so we’ll, enjoy it while we can.
Tego Venturi:
Let me give the last. It’s the Venturi Realty Group, real broker here in Central New Mexico, Albuquerque. You can reach us at 505-448-8888. Take care.