Round Rio Rancho

3 Bedrooms, 3 Bathrooms, 1596 Square Ft

This one of a kind townhome is tucked away in a cul de sac near the Petroglyph Monument. With stainless steel appliances, granite tile counters, custom maple cabinetry, unusual architechtural features and hand carved vigas inside and out, you won’t find anything like it elsewhere! The spacious 3 car garage can be a great workshop, complete with radiant heat and its own half bath. The home is energy efficient, with heating and cooling costs well below average. Come take a look!

4 Bedrooms, 3 Bathrooms, 3465 Square Ft

Do you have a big household? Then this may be the house for you! This custom home sits on a half acre lot that backs up to Chamisa Hills Golf Course. The owners have invested in this home, so you will not need to. You will love the long granite counters in the huge kitchen, the stainless steel appliances, the pellet stove in the spacious family room and the tiled wet bar. New windows and sliding doors were recently installed, significantly upgrading the homes energy efficiency and beauty.

This listing went into escrow about the time we finished the video, but we really liked it and wanted to share… Enjoy!

River’s Edge III is the newest and last subdivision of the River’s Edge neighborhood in Rio Rancho, NM. Located between Pat D’Arco Highway (Hwy 528) and the Rio Grande bosque, there are just under 600 homes, many of which have unparalleled views of the Sandia mountains and the river. Amrep Southwest developed the neighborhoods, building about 500 homes in the third subdivision, and selling most of the lots facing the bosque to custom and semi-custom builders for more expensive homes. One of the big attractions of living in River’s Edge is the easy access to the bosque walking trails, although you will find dozens of locals walking the streets of the neighborhood at dawn and at dusk, when it cools off.

The City of Rio Rancho was named #51 in the Top 100 Places to Live and Launch (a business) by Money Magazine in their latest issue. In 2006, Rio Rancho was #56 on the list, and was #83 in 2008. While there is some controversy about the magazine’s methodology in selecting their top 100, there is no denying that many things have been going right in Rio Rancho in the past few years…. Economically, Rio Rancho has been attracting a number of new and well known companies to settle here. Housing prices have remained moderate compared with much of the country, and the ups and downs of the national economy have had a lesser effect locally. You can see the statistical results for the latest rating below.

So you’re buying a home….  Here are some tips you need to know about purchasing homeowners /hazard insurance:

When purchasing a home it’s important to secure your insurance as soon as possible.  This will help you avoid any surprises or last minute decisions.  Even if you’ve found a home you like but it’s not yet under contract you can get a homeowners insurance quote from an agent.   Checking with your current auto insurance company is a good idea but it’s also recommended that you get comparable quotes from other agents.  Not all insurance companies or agents are created equal nor is the coverage they quote.  Remember this is your home we’re talking about don’t risk working with someone you can’t look in the eye and voice your concerns.  You want to find an agent (and staff) you can feel comfortable with because this could be the beginning of a long business relationship.  You’ll want an advocate who is willing to go the extra mile on your behalf.

An insurance agent can also check the claims-filing history of the home you want to buy.  Some insurance agents will give you a copy of the home loss history report, also known as the CLUE report, just for asking.  A claim may increase the premium of your prospective home insurance by up to 30% for as long as three years.  It’s also a good way to find out if there have been any water or roof issues, even if they’ve been repaired.

By: Aprilyn Chavez Geissler, our favorite Albuquerque Area Farmer’s Insurance Agent. For more information you can reach Aprilyn here.

For parties interested in the outcome of “tax lightning” litigation, your day may be coming. The New Mexico Court of Appeals has put two tax lightning cases onto their calendar for hearing.

If you are unfamiliar with the term, “tax lightning” occurs when someone buys a home, (often thinking that the property tax rate in effect when they purchased will continue) and at the next property tax assessment their home’s taxes are adjusted to a new and often much higher rate based upon their purchase price. On top of their shock when the taxes double or sometimes triple, imagine their indignation when they discover that their neighbors across the street (in the same model of home) are still paying one half or one third of what the new home buyer is now being billed!

Last year there were two rulings in the 2nd Judicial Court in Bernalillo County stating that parts of the property tax laws were unconstitutional. In response to these rulings, the Bernalillo County Assessor put into motion a rollback of some of the skyrocketed assessments – but only in Bernalillo County. The Sandoval County Assessor basically ignored the ruling, as the courts were not in Sandoval County. If the Court of Appeals basically affirms the lower court’s rulings, or made similar rulings of their own, the effect would be statewide.

Over 2000 lawsuits over property tax assessments are pending in Bernalillo County. State legislators are considering whether to attempt a constitutional amendment in the near future to craft a better system. The state legislature has taken up and dropped the ball on tax lightening reforms during the last two sessions. State Senator Mark Boitano has pushed workable plans in both sessions but has been blindsided by the leadership consistently.
 
There is a need for us all to pay taxes to fund public services and infrastructure, but the current property tax assessment system is broken, probably unconstitutional, and is in serious need of reform. Regardless of the outcome of cases before the Court of Appeals, if you agree that the system is broken, share your thoughts with your state representatives now, and when they go back into session.

If you own a home, are over 65 years of age with moderate income, or if you are disabled, the State of New Mexico may have a gift for you….

Under a state law revised in 2008, if you meet the above criteria you may be able to freeze the property tax valuation on your home at a lower level. Here are the particulars:

You must apply for qualification under this program each year, no later than 30 days after receiving the Notice of Valuation. After the year 2001, the applicant must be 65 or more years old (in the year the application is made). The applicant must be the owner and occupant of the property and it must be their primary residence.
 
If you are applying based upon disability instead of age, you must be blind or permanently disabled and not be expected to improve (medically).
The previous year’s modified gross income must be $32,000 or less (including all income from a spouse and dependents).

Although qualification under this program does not guarantee that your property taxes will not increase (as the mill levy rate can still adjust), the property valuation will stay the same (and that will certainly help keep the taxes down). The application is a simple, one-page form that should take 5 minutes to complete (if you have your tax return handy).