Albuquerque Owner Financed Homes
Albuquerque is the largest city in the state of New Mexico. It is the county seat of the county of Bernalillo and is situated in the central part of the state, straddling the Rio Grande River. The Albuquerque Metro Area (including Rio Rancho) has a population of approximately 908,000.
Albuquerque is home to The University of New Mexico, Kriktland Air Force Base, Sandia National Laboratories, Northrup Grumman, General Mills, and many other nationally ranked fortune 500 companies.
There were 746 pending sales of detached homes for November 2011, up 26.66% over November 2010. There were 492 closed sales of detached homes reported, a 4.90% increase over the prior year. Median sales price for detached residential homes settled in at $160,000. Of the 492 sales, 235 sales were between $100,000 and $179,000.
“As we approach the holiday season, sales typically drop,” said Peter Parnegg, President of the Greater Albuquerque Association of REALTORS®, “but the market is feeling a bit more stable than this time last year.” “The disparity between pending sales and closed sales is reflective of the over-reaching regulatory environment in the mortgage industry, making for unnecessary delays and failed transactions,” said Parnegg.