• May 26, 2017 Home values vary depending on location
    Gary Sandler
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    Published 26 May 2017

    LAS CRUCES – “Location, location, location” is a real estate mantra that been around for eons. The message behind the proverbial chant is that homes located in the most popular areas typically sell for more than homes located in less desirable areas. That’s true to a certain extent. But age, size and type of construction also have a bearing on values.

    Take, for example, the post-World War II era homes found in the part of town known as the Bellamah area. The neighborhoods, roughly situated on either side of Idaho Avenue between I-25 and Espina Street, were developed 1954 and 1959 and offer some of the lowest prices and prices-per-square-foot in Las Cruces. With an average sales price of $78,675 and $56.40 per square foot, these older properties make great starter homes for first-time buyers and novice investors alike.

    On the other end of the spectrum is the area known as both “behind ‘A’ mountain” and Soledad Canyon, where homes sell for an average of $349,000 and $141.64 per square foot. Unobstructed views of the Organ Mountains and the valley, coupled with newer and larger custom homes constructed on 2.5-acre lots, all add value to this popular area.

    In the bread and butter category, homes in the Las Colinas/Jornada Road area just north of Highway 70, offer some of the best values in town. At an average sales price of $177,463 and $100.04 per square foot, the new and existing-homes in this area are priced within the budget of many working-class families. The same holds true for the Four Hills area, located north and east of the I-25/Highway 70 intersection, where homes are a bit smaller and sell for just under $150,000. These two areas alone accounted for 120, or just under 20 percent, of the 608 new and existing homes sold during the first five months of this year.

    The bottom line is that the general area in which a property is located is not the only factor that impacts its value. The location of a property within a particular area and whether it is located in close proximity to negative influences, such as railroad tracks or heavy traffic, can also influence the amount buyers are willing to pay.

    See you at closing!

    Gary Sandler is a full-time Realtor and president of Gary Sandler Inc., Realtors in Las Cruces. He can be reached at 575-642-2292 or Gary@GarySandler.com

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      Gary Sandler