The Ruidoso Blog - News & Views on Ruidoso Real Estate

Fall in Ruidoso

2009-10-29T03:19:04Z

The Fall season in Ruidoso is my favorite time of year!

Here in the South Central Mountains of New Mexico, the foliage is a mixture of gold, orange, brown and red against a backdrop of evergreens. The colors seem to have lasted longer this year than they usually do, and the aroma of pinon wood smoke from fireplaces and green chile roasting is in the air. We already have had a few inches of snow on top of Sierra Blanca, and hopes are high for a good ski season. It just doesn’t get any better than this!

I wanted to share a few recent photos from around the area…

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Price reductions, more homes on the market in Alto Village

2009-10-27T03:40:42Z

There has been a lot of interest in Alto Village real estate this summer with prospective buyers looking to take advantage of a large inventory of homes for sale, and market conditions that have cooled prices since the highs of 2006 and 2007. Alto Village is made up of 7 individual subdivisions: Alto Lakes Golf & Country Club, Deer Park Meadows, Deer Park Valley, Deer Park Woods, High Mesa, Lakeside Estates, and Sierra Blanca.

Today’s buyers are looking for value, or “a great deal”, so I thought it would be good to compare the numbers by subdivision in Alto, and look at recent price reductions.

The chart below shows data for each subdivision.

As you can see, there have been some significant price reductions, especially in Deer Park Woods and Sierra Blanca. If you would like information on specific listings that have been reduced, contact me.

If you would like to receive a list of all properties for sale in Alto Lakes Golf & Country Club, please contact me, or email mary@ruidoso-homes.com or call or text me at 575-937-5229.

View Current Homes for Sale – Alto Lakes Golf & County Club click here

Search Alto Lakes by Price, Size, etc. click here

The Upper Canyon – Cabins, River Property & Cool Pines

2009-10-27T03:42:09Z

The Upper Canyon is a popular area located on the far west end of Ruidoso, and is comprised of several separate subdivisions. Main Rd. follows the path of the Ruidoso River from Mechem Dr, west to the Mescalero Apache Reservation border. Many of the homes in the Upper Canyon area were built in the 1930s thru the 1960s. Some have been remodeled and some have not. There are many nice, large homes located on the Ruidoso River as well as many small cabins scattered along the valley and hill sides.

The subdivisions I have included for this article, and analysis of recent sales data, are: Central, Chateaux Village, Cree, Dufo, Flume Canyon, McCarty, McDaniel Heights, Pinescape, Sherwood Forest, Sleepy Hollow, Singing Pines, Silver Mountain Terrace, Ruidoso Acres, and White Fir.

In looking back at 12 months of sales data for the Upper Canyon area, there were 13 transactions closed from June 1, 2008 thru June 01, 2009.

View Current Listings in The Upper Canyon click here

Search the Upper Canyon by Price, Size, etc. click here

Sold transactions ranged from a high sold price of $590,000 to a low listing price of $50,000, and a median sold price of $169,000. List to sold price ratio was 91.9%. The median “days on the market” was at 197.

Keep in mind that in July of 2008, the Upper Canyon was hit hard by one of the worst floods in Ruidoso history. Months of bridge repair and river cleanup followed, with some repair work still underway today. Driving down Main, however, there are only a few areas where you see the impact of the flood, mostly at the river crossings. Many of the homes in the area were not affected at all. The flood has probably slowed real estate sales in the Upper Canyon this year, however, it is impossible to know what amount of decline is attributable to the flood damage and what to the general downturn in the real estate market here and nation wide.

Currently, there are 31 homes for sale in the Upper Canyon area. Listing prices range from $68,800 to $599,850.00 with a median of $229,000. Median price per sq. ft. based on listing price is $148.64.

To search all properties for sale in Ruidoso, click here. If you would like to view current listings in a specific area, such as Upper Canyon, email me for a link to those properties. Now is a great time for buyers looking in the Ruidoso area and we are seeing more motivated sellers, and price reductions.

Contact me for price reductions, custom property searches, or any questions you might have regarding real estate in the Ruidoso area. I’ll be glad to set up a email notifier for you to get listing alerts. Email mary@ruidoso-homes.com or call or text me at 575-937-5229.

View Upper Canyon Cabin photos on Flickr click here

Ranches of Sonterra – Update

2009-09-30T20:10:53Z

NOTE: Updated 10-01-2009: See “View listings” link below, to see new properties listed, and recent price reductions.

Just a quick update on the current listings in Ranches of Sonterra. The number of residential and land listings in Sonterra are shown in the chart below, along with some pricing data:

NOTE: Land stats include residential tracts, 4-8 acres in size. Commercial land, and some larger residential tracts were omitted.

I have written previous articles, with more background information on Ranches Sonterra.

View Land Listings in Ranches of Sonterra click here

View Homes for Sale in Ranches of Sonterra – click here

Contact me for price reductions, custom property searches, or any questions you might have regarding real estate in the Ranches of Sonterra, or Ruidoso area. I’ll be glad to set up a email notifier for you to get listing alerts. Email mary@ruidoso-homes.com or call or text me at 575-937-5229.

Homes with acreage, land for horses, near Alto, NM

2009-10-19T17:03:17Z

I’d like to share photos and give a brief update on several properties in the area north of Ruidoso, where horses are allowed. These properties range in size from 5 to 34 acres. Some include homes, while others are acreage with no home. One of these is a newly listed tract of 141 acres near Arabela.

Search for Land in Lincoln County click here

Search for Homes in Lincoln County – click here

In summary, here are the properties, followed by a slide show (click on photo for more details )

Nice mountain views, home on 5 acre tract, in Ranches of Sonterra. Price $799,000.00. see more details.
Big mountain views, home on 5 or 10 acre tract, near Ranches of Sonterra. Price$549,000.00. see more details.
NEW Listing ! Home & horse facilities on 30 acres – Ranches of Sonterra – see details
NEW Listing ! Near Ruidoso Downs Racetrack – home on 4.8 acres for horses – details
Lot in Ranches of Sonterra, mostly level, Views of Capitans, Bonito River Valley, $89,000.00 more info
Land near the Capitan Mountains, 34 ac. Big Mountain views, includes well, electricity. Price $239,900.00 more info
Victorian style home on 4.7 acres, near Alto & Ruidoso, could be B&B, nice setting. Price $489,000.00 more info
Southwestern home on 5 acres, near Ranches of Sonterra, Nice views of Capitans, workshop. Price $499,000.00 more info.
Land near Arabela, NM. 141 acre tract near Deadman’s Canyon ( Hwy 368 MM 9). Nice views, hunting, seasonal creek, Price $99,900.00 more info .

Click on a photo for more details:

Value Alert: Huge Price Reduction on Ruidoso Downs Home

2009-09-30T20:17:11Z

UPDATE: SOLD, no longer available.

This home in Ruidoso Downs, NM has just been reduced by $60,000 to a listing price of $198,500.00. This 4 bedroom, 3 bath home is approximately 4140 sq. ft, is one level, brick exterior, with a metal roof. If you are looking for a large home, in a price range under $200,000.00, act now, because this listing will not last long!

Listed by Gary Lynch, Prudential Lynch Realty

Contact me for info on this property, other price reductions, custom property searches, or any questions you might have regarding real estate in the Ruidoso area. I’ll be glad to set up a email notifier for you to receive listing alerts. Email mary@ruidoso-homes.com or call or text me at 575-937-5229.

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Have real estate prices hit bottom ?

2009-08-28T03:08:18Z

As I have mentioned before, there are a lot of potential home buyers on the sideline, looking for deals steals, and trying to gauge a market bottom. Nothing new with this strategy ( buying as low as possible ) especially in light of today’s uncertainty in the market.

The “experts” continue to weigh in, and I thought I would pass on a few points taken from today’s online article When home Prices Hit Bottom, over at CNNMoney.com .

If you are thinking of selling, you might want to wait due to high inventory & lower prices
Nationwide, home prices may hit bottom in late 2009, assuming government action works.
Recovery may be gradual. Prices may not return to 2006 levels for another decade.
Buyers need to think long term, take advantage of record low interest rates, and know thy market.

The Ruidoso area market is seeing signs of recovery, as buyers take advantage of the current market conditions (high inventory, motivated sellers and great interest rates). In general, sellers in our market are not as desperate to sell and/or reduce prices, as in markets such as Phoenix, AZ or Las Vegas, NV where foreclosures are common. The media reporting on these areas would lead one to believe that all sellers are distressed, and we may have a few sellers that are, but most sellers in our area will only accept offers that are reasonable.

It is important to remember that “real estate is local” and all buyers and sellers should follow their local market conditions, and weigh the factors necessary to make informed decisions.

I will continue to provide in depth analysis of specific areas within our market as well as historic data on local subdivisions. If you would like information on an individual property or subdivision, please contact me, or email mary@ruidoso-homes.com or call or text me at 575-937-5229.

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Events Calendar for Ruidoso – Spring & Summer 2009

2009-05-06T04:10:38Z

Here are just a few of the Upcoming Events for the Ruidoso Area. From a very worthwhile fundraiser for Hospice at the Flying J Ranch, to concerts at the Inn of the Mountain Gods, there are some great events planned for Ruidoso this spring & summer.

3rd Annual Kite Festival – Ruidoso – April 24, 25, 26
Kenny Rogers – Inn of the Mountain Gods – May 1
Annual Hospice Fundraiser – Flying J Ranch – May 2
Rodney Carrington- Inn of the Mountain Gods – May 14
Military Appreciation Weekend – Ruidoso, May 14-17
Aspencash Motorcycle Run & Trade Show – Ruidoso Convention Center – May 14-17
Ruidoso Downs Racetrack Opening Day -May 22
Joe Nichols in Concert – Ruidoso Downs Racetrack – May 23
Ruidoso Noon Lions Gun & Collectible Show – Ruidoso Convention Center – May 23 & 24
Ruidoso Sprint Triathlon – Ruidoso Athletic Club – May 30
Mountain of Blues Festival – Ruidoso – June 6
Zia Charity Classic – Inn of the Mountain Gods – June 14
Spring Fling Rod Run & Car Show – Mountain Annies – June 20

These are just a few of many events scheduled. For a more detailed calendar of all events, please visit Ruidosonow.com

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3rd Annual Ruidoso Kite Festival

2009-08-29T03:11:31Z

Mark your calendars for April 24, 25 and 26^th to attend the 3^rd Annual Ruidoso Kite Festival at White Mountain Sports Complex in Ruidoso New Mexico! Festivities begin Friday at 1pm till 5pm. Saturday begins at 9 am and close at 5 pm. Sunday will be 11am until 4 pm with an early worship service to kick things off starting at 10:30.

You might be wondering….WHAT IS A KITE FESTIVAL???

View Photos from 2008 Kite Festival in Ruidoso click here

Bruce DeFoor, one of the Kite Festival organizers and Chairman of the Art Department at ENMU Ruidoso, sees it as “A chance for people to discover HUGE hand made kites of unique designs flown by professional kite fliers from surrounding states. It’s also a event that you can actually be a participant in. You can sit back and just take it all in, or you can grab a kite and fly with 100’s of others and actually learn to love the wind for a change!” Believe it or not, kite flying is an international hobby in which thousands of people participate. Visit the American Kite Fliers Association website at http://www.aka.kite.org/ for more information about the huge variety of modern kites.

DeFoor was instrumental in launching the 1^st Annual Ruidoso Kite Festival in 2007, where no less than 300 kites were made during the weekend (with assistance from volunteers) and flown by local children. Jeri and Joan, the sisters at WeCree8, teamed with Bruce that 1st year and somehow pulled off a successful event in a little less than a month. The event takes far more planning now though, and new board members Rifle Salas and Dawnn Moore are helping to make it more successful than ever.

During the 2008 festival, over 800 kites were made and this year, the volunteer organization is expected to assist over 1,200 children in building and flying their own handmade kites! It is believed that over 4,500 hundred spectators/participants are expected this year over the 3 day span. Local businesses and lodgers have reported increased sales directly related to the Kite Festival and are happily waiting to greet kiters this year as well. April is considered a slower activity month for the Village, so the Kitefest makes a great fit. Ironically, April is National Kite Flying Month as well.

There is no entry fee to the festival, and all are invited to come and spend a day….or the entire weekend, watching great kites like our giant mascot of the event, 88 ft tall “Ollie the Octopus” and colorful “Spike the Blow Fish”, and many more float over the White Mountain Sports Complex. The only cost associated with the festival is $2 donation per kite, for children who want to make and fly their own kite. Attendees are welcome to bring their own kites too. This is a participatory, not just a spectator event! There will be prizes given for different catagories, such as for the highest kite flown and farthest distance traveled to the show. There will also be high quality, commercially made rip stop nylon kites available for sale for those that don’t bring one.

This year will feature an aerial “dogfight” between Snoopy and the Red Baron in their huge kite-airplanes! Come and cheer for Snoopy! Another new event this year will be CANDY DROPS throughout the weekend, where bags of candy will be hauled up in the air by a huge kite, and dropped to the children waiting below. A Kite Hospital will be waiting for kids with kites in distress again this year. Due to popular request, this year there will be professional kite fliers who will be teaching people how to fly a variety of different kites. Live bands and an announcer will keep things moving along nicely. There will also be Kite Festival hats, pins, and t-shirts available for sale, with proceeds going to the Kite Festival fund for next year’s event.

This event is all about FAMILY. It is not unusual to see 3 or 4 generations of a family out flying kites and enjoying a beautiful spring day together. There will also be more food vendors than last year, so you won’t have to worry about leaving for lunch.

People are coming from out of town for this event too, like the bus that is bringing up families from Holloman Air Force Base. Word of this event continues to spread throughout the west, as far away as California. Last year at least 2 families reported made the long trip from California by car, just to take in the sights and be a part of all the colorful kites. The event has now been sanctioned by the Ruidoso Village Council, Chamber of Commerce and Visitor Center.

Donations and volunteers are still very much needed for the event, and it will be the most fun you will ever have as a volunteer. Please contact Dawnn Moore, ENMU Event Planner at 257-2120 if you would like to volunteer or donate. Even if you are not able to attend, volunteer or donate, you can help us spread the news of this incredible event by forwarding this website to your friends and family http://www.ruidosokitefestival.com/ ..

See you there, and happy kite flying!

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A good time to buy in Lincoln County, New Mexico

2009-04-09T17:26:57Z

Like many real estate markets across the nation, Lincoln County’s total sales volume for last year was down 25 per cent or more, depending in which area you are looking. Total sales volume and number of units sold, for the entire county, has declined by 24 per cent, comparing 2008 vs. 2007. Ruidoso’s total dollar volume on sales of residential units dropped about 19 per cent, while number of units sold declined about 22 per cent. Alto Lakes Golf & CC dollar volume declined about 42 percent, while the area surrounding Alto ( N. Ruidoso to Bonito River ) was only down about 6 per cent.

Buyers Market: The opportunities for buyers continue to improve as motivated sellers are reducing their prices. There is a constant negative media drumbeat of a troubled economy, government stimulus bills pending, and job losses nationwide. The national news about the housing market does not inspire confidence, and buyers are in waiting, trying to guess when and where the market bottoms. Trying to “time” the real estate market it like trying to “time” the stock market (it’s really hard to do). By the time most people realize the bottom is here, it has already past and prices are on their way back up.

Housing Affordability at Record High: The National Association of Realtors carefully track housing and economic data and issue a periodic report on the housing market. A recent article titled: Pending Home Sales Down but Housing Affordability at Record suggest that the current Housing Affordability Index rose in January by 13 percentage points, which was a record high, and the most favorable index since tracking began in 1970.

Markets that have been hit the hardest such as Phoenix, Las Vegas, and Miami have seen price reductions of 40 per cent. A recent article in the Wall St. Journal online edition describes a great opportunity for many buyers who were previously priced out of these markets.

How much lower will the market go here in Lincoln County? I honestly cannot predict it. We are however, seeing some significant price reductions, and there are some great buys out there.

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