$2.7 Million Homes in Massachusetts, Idaho and New Mexico

Concord, Mass.

WHAT A house with six bedrooms and five and a half bathrooms

HOW MUCH $2.699 million

SIZE 5,467 square feet


SETTING This 1860 home, a former setting of a school for young children, is on the edge of Concord’s historic district, a 10-minute walk from the center of town and less than an hour northwest of Boston.

INDOORS A builder who acquired the house in 2004 performed a gut renovation, adding a large mudroom and an attached two-car garage with an upstairs bonus room. The current owners bought the property in 2012 and chose the lively wall colors.

The front door, which retains the push-bar on the inside from schoolhouse days, opens to a center hall. On the right is a burgundy-colored living and dining room with bay windows and decorative columns. On the left is a lavender parlor, formerly used as a faculty lounge, that serves as an office. The large kitchen flows into a second dining room and a family room with a fireplace; all are painted spring green.

Upstairs, the bay-windowed master suite has walk-in closets, a sitting room and a bathroom with marble flooring. Three additional bedrooms and two bathrooms are on the second floor; two bedrooms, a playroom and a bathroom are on the third floor.

The finished space under the gabled garage roof has a stone fireplace and a full bathroom.

OUTDOOR SPACE Sliding doors from the family room lead to a new stone patio and a fenced yard. The house sits on more than half an acre.

TAXES $28,810

CONTACT Sharon Mendosa, Mendosa-Balboni Team, Engel & Völkers, 978-580-0386; concord.evusa.com

David Fish/Blu Fish Photography
Boise, Idaho

WHAT A medieval-style castle with five bedrooms, five full bathrooms, two half bathrooms and a suit of armor

HOW MUCH $2.675 million (Bitcoin is accepted)

SIZE 5,845 square feet


SETTING Completed in 2011, the castle is in the East End neighborhood of Boise, on a street where houses have historically been warmed by underground hot springs. It is about two miles southeast of the Idaho state capitol building; downtown is visible from the crenelated roof. The building is made of sandstone, 90 percent of it quarried locally.

INDOORS Passing under a fixed iron portcullis, and pushing open a 220-pound door, one enters a foyer with a full suit of plate mail standing in a niche. (The armor goes by the name George and comes with the house.) The surrounding rooms have reclaimed hardwood floors and beams, plaster walls and a thoroughgoing baronial vibe. The living room fireplace is massive; the circular dining room befits a King Arthur-style table; and the gourmet kitchen has its own kitchen (a butler’s pantry with an island, a refrigerator and a copper sink). All of the floors have radiant heat.

The entire level upstairs is taken up by a master suite that includes a bedroom with leather walls and a fireplace; a walk-in closet; a bathroom with a plunge tub, steam room and shower room; an exercise room; a home theater with a wet bar; and an office.

Two additional bedrooms and bathrooms, as well as a second theater and a wine cellar, are on the first level, below the main floor. The top, or fourth, level has a roof deck. An elevator operates between all four floors, but you can also walk the 76 steps in the main tower.

A three-car garage that is attached to the house by a breezeway (downstairs) and a catwalk (upstairs) has a one-bedroom apartment with a full-size kitchen, living area and bathroom.

OUTDOOR SPACE The building sits on .37 acre and has a large stone patio in the backyard. The multilevel roof terrace, which can be lighted at night with flaming torches, includes an outdoor kitchen, a firepit, a bar, a jetted tub, a dragon fountain and a greenhouse.

TAXES $19,977 (2017)

CONTACT Missy Coman, Group One Sotheby’s International Realty, 208-484-8617; sothebysrealty.com

Ed Macias
Abiquiú, N.M.

WHAT A 58-acre riverfront complex built in 1996 with a two-bedroom main house, a guesthouse with two units and a vineyard

HOW MUCH $2.7 million

SIZE 3,325 square feet


SETTING The property is a mile and a half northeast of Abiquiú, a tiny place whose most famous resident was the artist Georgia O’Keeffe. It is about two hours by car from the Albuquerque airport and about an hour from Santa Fe.

INDOORS The main house has 16-inch-thick walls of Pumice-Crete, concrete floors, a metal roof with skylights and a screened porch. The central living area has pine cabinets and beams, a fireplace whose chimney rises to the top of the vaulted ceiling and an open kitchen with a white-quartz-topped peninsula. A dining room is off to the side.

This level also has a bedroom with a walk-in closet, a full bathroom and a powder room. A second bedroom and a study are upstairs in a loft-like space with a balcony overlooking the main floor.

A separate guesthouse shaded by a long veranda has two casitas, each with a private entrance, a full bathroom with Mexican tile and a wood-burning fireplace.

OUTDOOR SPACE In addition to the vineyard with its more than 6,000 vines, the property has strawberry and asparagus plants, alfalfa fields, a cottonwood grove, lines of poplar trees, flower gardens and a chicken coop. The Chama River runs along the border.

TAXES $7,229

CONTACT Emery or Dolores Maez, Keller Williams Realty, 505-469-0546; kw.com

Source Article

NM unemployment, air traffic and more in ABQ Business First Deep Dive Economy – Albuquerque Business First

Unemployment is down. Personal income is up. Airport passengers are up.

Our quarterly Deep Dive Economy report takes a closer look at several economic indicators in New Mexico that show how the state is faring financially.

This updated review of the state’s economy measures the latest trends in employment, personal income, housing, airport travel, hotel occupancy and agriculture. See the charts below to view the data for fourth quarter 2017, and check out our Deep Dive Economy feature on why New Mexico fared so poorly in U.S. News & World Report’s Best States ranking.


Our quarterly Deep Dive Economy report takes a closer look at several economic indicators in New Mexico that show how the state is faring financially.

Source Article

Price Land & Development Group buying 10 acres of Mariposa is ABQ Business First Deal of the Week – Albuquerque Business First

The skinny

Mariposa, a master-planned community on the outskirts of Rio Rancho, is launching its next phase with a local developer.

The numbers

New Mexico-based Price Land & Development Group has purchased 10 acres of the Mariposa Master Planned Community. The purchase price was not immediately disclosed. Homes in Mariposa range from about 1,500 square feet to 4,500 square feet and from the low $200,000s to the $400,000s.

The details

Price Land & Development plans to build 41 homes to comprise the Jemez Vista neighborhood as part of the 6,500-acre Mariposa Master Planned Community.

What’s next

Price Land & Development plans to prepare the 41 lots for two local homebuilders, who were not immediately named, to begin work in September.

Why it’s significant

Mariposa East was a victim of the recession when the original developer — High Desert Investment Corp. — stopped work there in 2012. That left residents with a potentially huge increase in tax payments toward $16 million in bond debt that High Desert incurred for the installation of a water treatment system. Lawyers representing Mariposa later outlined a bond restructuring plan to lessen the blow, and activity slowly began to return to the community. Arizona-based Harvard Investments bought Mariposa East, where a community center had gone into foreclosure, in 2014. Mariposa’s a sizable planned community, so the new local developer will be closely watched as it moves the project into the next phase.

More about Harvard Investments

It’s the US subsidiary of The Hill Cos., a family-owned company based in western Canada. The Hill Cos. has roots that go back to 1903, when it specialized in real estate development and insurance.

Source Article

Kindness spread to Albuquerque, New Mexico a Local Chapter Begin

The Gift Of A Helping Hand Charitable Trust
Cathy P Russell
(313) 282-9476

The Gift Of A Helping Hand Charitable Trust set up additional New Chapter in partnership with Prosper and Be In Health Inc., Albuquerque, New Mexico to help assist the less fortunate and be a voice. Our vision is to set cup Chapters all around the globe.


Detroit. Michigan, March 30, 2018{City, – The Gift Of A Helping Hand Charitable Trust vision is to set up Chapters under the umbrella of the organization all across the United States and all around the world to unite in peace, unity and spread kindness worldwide.

Since 2002, The Gift Of A Hand Charitable Trust provides safe and affordable housing for Veterans, Domestic Violence Survivors and their children and homeless women and their children. We Foster technology, health education, career and financial educational training computer classes for economically disadvantaged youth’s, girls, women, Veterans, domestic violence survivors and underprivileged individuals in helping them to become self-sufficiency and learn the skills for career advancement. In addition, we provide basic needs and care packages to thousands of families and individuals all around the world requesting our assistance during these challenging times. The Chapter Foster awareness and empowering women, and girls all around the world.

Cathy P Russell said, "Let us unite by spreading kindness, compassion and empathy all around the world. Starting a Chapter is rewarding , a voice and a blessing to the less fortunate. She is proud to be able to form Chapters under the umbrella of The Gift Of A Helping Hand Charitable Trust in the U.S. and other countries."

Cathy P Russell is proud to be working in partnership with Frederick Esters, CEO and Founder of Prosper and Be In Health Inc. in changing and inspiring the life’s of the less fortunate in Albuquerque, New Mexico and all around the world.

The Gift Of A Helping Hand Charitable Trust welcome all States and countries to come on board and Start A Chapter under our agency in your State or country to help assist the less fortunate. To Start A Chapter in your State or country go to www.tgoahhct.org and click on the link Chapter and apply online. Help changing the life of others is the greatest gift you can give. Being a Voice for those who can not be a Voice for themselves. Start A Chapter in your State or country and help bring unity and peace back into the world.

Source Article

Census: Los Alamos, Sandoval counties lead NM in population growth

ALBUQUERQUE, N.M. — For the sixth year in a row, more people moved out of New Mexico than moved in, but the state’s total population stayed steady last year as births continued to outpace deaths, according to recently released federal census data.

The data show Los Alamos and Sandoval counties leading with population growth between July 2016 and July 2017, while oil field boom towns in Eddy and Lea counties, which showed a spike in residents from 2012-2015, actually dropped in population. Local experts say the oil boom counties are now rebounding.

Los Alamos County even made the national top 10 list for fastest-growing micropolitan areas, those with between 10,000 and 50,000 residents, ranking 5th with a growth of 3.13 percent.

The state’s largest county, Bernalillo County, followed the state trend with more moving out than moving in. The data show that overall it grew by about 1,185 people — about 0.18 percent — to 676,773. The data show a net loss of 749 residents from migration.


No compatible source was found for this media.

Overall the state’s population grew just 0.3 percent to 2,088,070.

“We are growing, but it’s nominal growth because births are down, deaths are up and migration is out, and those three things are what drive population growth,” said Robert Rhatigan, associate director for Geospatial and Population Studies at the University of New Mexico.

The U.S. Census Bureau uses vital statistics of births and deaths to track what it calls natural population change and tax filings to track people moving in and out of the state, which it calls migration. Migration is the trickier of the data because people sometimes don’t file taxes or might work in one state and file taxes in another. Together, migration and natural change make up the total population change.

New Mexico’s total population grew by 2,638 people: that growth accounts for slightly more than 25,200 births and 17,800 deaths and a net loss of 4,666 residents to migration.

International residents, which can include U.S. citizens or military people moving back to the U.S., dominated the state’s incoming migration trend, with a net gain of 2,771 international residents. At the same time, 7,437 more domestic residents moved out of the state than moved in.

That was the same migration trend for the state in 2015-16, when the total state population grew but only by about 700 people.

These past two years of overall growth, while small, cap six straight years of net migration loss.

“That’s because our neighboring states began recovering from the recession and we didn’t,” Rhatigan said.

Pockets of net positive migration held steady in southern New Mexico as the oil and gas industry flourished through 2016. But the oil prices drop precipitated a population decline captured in this snapshot, which logged a net loss of 804 residents from Eddy County and a net loss of 1,709 residents from Lea County — the most dramatic net loss in migration of any county during this period.

“Population data lags, and so this loss was related to the fact that our big economic driver, which is really oil production, was really in a swoon for two years or so. It’s since come out of that,” said Steve Vierck, president and CEO of the Economic Development Corp. of Lea County.

Rhatigan said the Lea and Eddy population counts, like all in this snapshot, are estimates based in part on IRS fillings. That means oil and gas employees who work in New Mexico but also live in other states might have filed their taxes elsewhere, thus skewing population stats.

At the same rate that Lea County lost residents, Sandoval County gained them.

The county marked the largest total population growth in the state with a total of 2,283 new residents — about 1.6 percent growth. About 1,900 were relocations to Sandoval County from elsewhere in the U.S.

“It’s a bedroom community for both Albuquerque and Santa Fe,” Rhatigan said. “New homes are being built, and it’s a place to get an affordable and brand new home and decent schools.”

Los Alamos County also topped the list of percentage growth, with 3.13 percent, but the county gained only a net 586 residents.

In Doña Ana County, 294 international people took residency along with about 96 domestic relocations. The county as a whole grew 0.79 percent by about 1,705 people.

Santa Fe County grew by about 807 people, about 0.54 percent. It drew the second biggest domestic migration with 550 relocations and 148 international relocations.

Overall, 14 New Mexico counties experienced total population growth, none more than Los Alamos County. Harding County saw no net growth or loss. The other 18 counties dropped population, none more than Lea County’s 1.59 percent.

Source Article

Viva! NM Rural Animal Rescue helps at-risk pets in underfunded shelters

ALBUQUERQUE, N.M. – Viva! NM Rural Animal Rescue works throughout the state of New Mexico to help rural animal shelters lower their euthanasia rates.

Viva! NM Rural Animal Rescue is a small, volunteer-based animal rescue located in Albuquerque, New Mexico. Established in 2012, they work throughout the state of New Mexico to help rural animal shelters lower their euthanasia rates.

Their efforts are focused on responsibly re-homing pets, promoting spay and neuter, community education, networking with other rescues, and helping shelters achieve an online presence.

VNMRAR is a foster-based rescue, which means they do not have a facility location. All of their adoptable dogs reside in foster homes where they live as members of the family until they are adopted.

Registration is now open for their fundraiser, the 4th Annual 4-Legged Race. The fun event will take place on Saturday, April 14, from 9 a.m. to 4 p.m.

For more information, visit their website.

Source Article

Pot decriminalization proposed for New Mexico’s biggest city

Albuquerque City Councilor Pat Davis, left, discusses a proposal to decriminalize possessing an ounce of marijuana or less with Emily Kaltenbach, of the Drug Policy Alliance, center, and fellow Councilman Isaac Benton, right, at a news conference in Albuquerque, N.M., Monday, March 5, 2018. Davis and Benton’s proposed change to the local criminal code would add Albuquerque to a growing list of municipalities that have decriminalized possessing pot in small amounts. (AP Photo/Mary Hudetz).

Mary Hudetz

ALBUQUERQUE, N.M. (AP) — Two Albuquerque city councilors are pushing to decriminalize marijuana possession in cases where a person is caught with an ounce (28 grams) or less, saying their proposal will free up police time and resources to focus on more serious crimes.

Councilors Pat Davis and Isaac Benton announced their proposal Monday to amend Albuquerque’s criminal code by making low-level pot possession and paraphernalia without a valid medical marijuana referral a citable offense that can come with a $25 ticket but no jail time.

The proposed change —which still must go before the City Council and mayor for approval — would add Albuquerque to a growing list of municipalities that have decriminalized possessing pot in small amounts, including Orlando and Pittsburgh. Nine states and Washington, D.C, have already legalized recreational marijuana.

"It’s been needed for many years," said Emily Kaltenbach, the state director in New Mexico for the Drug Policy Alliance, which has advocated nationally for easing drug sentencing laws. "New Mexico is sort of behind the curve when it comes to marijuana reform."

She added that a single arrest for marijuana possession can hinder a person’s chances at securing housing or student loans. New Mexico is also among a handful of states where marijuana possession on a person’s record can block his or her chances of getting approval to adopt a child, she said.

Under the city’s criminal code now, police can issue $50 fines to first-time offenders possessing an ounce or less of marijuana. Authorities can also decide to send the first-time offenders to jail for a maximum of 15 days, though such instances appear to be rare. The fines and penalties increase with a second violation.

A review of Metropolitan Detention Center bookings over the past week showed no one was booked into the jail following an Albuquerque police arrest on a sole petty misdemeanor charge of paraphernalia or marijuana possession. Bernalillo County Sheriff’s deputies only made one such arrest in Albuquerque resulting in a jail booking in Albuquerque in the same period.

The low rate of arrests has raised some question from skeptics, including Rep. Monica Youngblood, an Albuquerque Republican, over the proposal’s impact. As a state lawmaker, she expressed opposition to legalizing marijuana in the past, saying she believes the state has bigger problems to address.

"I don’t see that people are being arrested or rearrested or that the justice system is being packed with all of these low-level possession crimes," she said. "I don’t see that it’s an issue or something we should be concerned about."

Citing Albuquerque police data, Davis, a former law enforcement officer and Democrat, said that in a recent 12-month period there were 177 instances in which marijuana possession was listed as the top offense. Each arrest or citation was likely to have resulted in potentially hours of police time to process.

In 2015, a similar proposal went before the City Council, but was vetoed by Mayor Richard Berry, a Republican. Berry was replaced late last year by Tim Keller, a Democrat.

Davis said he believes the proposal’s prospects have been boosted by the change in administrations.

This story corrects a previous version to say a similar ordinance was vetoed in 2015, not 2014.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source Article

The homeless in San Diego are getting jobs – thanks to a 16-year-old boy

Kevin Barber, 16, was inspired by a TED Talk to tackle homelessness in his own town. – Carolyn BarberThe San Diego "Wheels of Change" van, which transports the newly employed work teams to their cleanu… – Carolyn BarberHomeless workers pose with trash they cleaned up from the streets of San Diego. – Alpha ProjectIn San Diego, a "Wheels of Change" work crew digs in. – Carolyn Barber

The homeless men and women step off the van and get straight to work. They pick up trash and bottles, and as they do, business owners and residents cheer them on — honking, clapping and even handing out refreshments.

It’s part of a pilot program in San Diego that hires homeless people to help clean up the city’s streets. And it was started by a 16 year-old boy: Kevin Barber.

Barber got the idea from a TED Talk video showcasing a similar program in Albuquerque, New Mexico, that invited panhandlers to clean local streets in exchange for fair wages and access to city services.

"It just looked really simple, and the statistics were staggering," the high school junior told CNN.

Cities across the country are using programs like the one in Albuquerque to provide hundreds of part-time jobs to the homeless. Barber wanted to implement one in San Diego, which hosts the country’s fourth-largest homeless population.

It’s an issue the young activist was keenly aware of from conversations he had with his mother, an emergency room physician who interacts with the homeless on a daily basis.

"I see so many people who just don’t have many opportunities," Dr. Carolyn Barber said.

So mother and son reached out to the city government to start a trial run of the homeless program.

It’s called "Wheels for Change." Participants get paid $11.50 an hour. Kevin’s mom felt so strongly about the cause that she donated the funds to pay for the six-month pilot.

The city is considering financing the program moving forward. Local politicians are also getting on board.

"It’s a win-win for everybody," said City Councilman Scott Sherman. Employing the homeless population to clean up the city has the added benefit of easing the burden on San Diego’s sanitation department.

Feeling relevant again

Several times a week, a van picks up eight to ten people from one of the downtown homeless shelters. The workers travel to different locations, removing trash and debris from many of the same sidewalks and park benches where they once used to sleep.

Bob McElroy, who helps the homeless through the non-profit Alpha Project said he’s seen the program’s impact on the streets and on the faces of the homeless workers as their fellow citizens come out and cheer their efforts.

"It’s just so medicinal for our folks who have always been marginalized and irrelevant," he said.

After their shift, workers are brought back to the shelter and given their pay in cash. But their job isn’t over. They are expected to connect other homeless people with the services that the city and Alpha Project offer. Word of mouth is spreading; the waiting list to participate in "Wheels of Change" is more than 150 names long.

"Lord have mercy, our folks just wanted to participate," McElroy exclaimed. "San Diego is going to be spotless by the time we are through with this."

Susan Graham is one of these motivated folks. She was having suicidal thoughts just a couple weeks ago when she was brought to the Alpha Project shelter. After seven days there, she was introduced to the "Wheels of Change" program. Graham eagerly signed up.

"To give back means a lot to me because they have given so much to me," she said.

Graham plans to participate regularly in the program and has been placed in an apartment after eight months of homelessness.

"This is a miracle. I am a miracle," she said.

The first item Graham put up on her wall as decoration — $46 in cash she earned from her first day of work with "Wheels of Change."

High school student Kevin Barber is already working to expand the program and hopes to improve San Diego one work shift at a time.

"Our goal is to get another van and have it go more days of the week," he said. "Helping as many people as we can."

Source Article

NM high court affirms ‘copper rule’ for mining

ALBUQUERQUE, N.M. — The New Mexico Supreme Court today affirmed the state’s so-called “copper rule,” ruling that the 2013 regulation provides “significant groundwater protection” at open pit copper mines.

The court ruled unanimously that regulations adopted by the state’s Water Quality Control Commission were valid under the state’s Water Quality Act.

The New Mexico attorney general and other groups, including Amigos Bravos, the Gila Resources Information Project and Turner Ranch Properties, had challenged the regulation.

The regulation dictates how mining companies are required to protect – opponents say allowed to pollute – groundwater where they operate.
“We cannot conclude that the Copper Rule violates the (Water Quality Act) because it purportedly permits rather than prevents contamination when the Cooper Rule’s plain terms contain an abundance of provisions that afford significant groundwater protection at copper mine facilities designed to prevent pollution,” said the opinion written by Chief Justice Judith K. Nakamura.

Supporters of the rule had argued that it strikes a balance and that overturning it could threaten the viability of copper mining in New Mexico.

The rule allows mining companies to exceed water quality standards at mining sites, including open pit operations and waste rock piles, as long as the concentration of contaminants found in monitoring wells around the perimeter of those areas meet water quality standards. Under the rule, pollution standards do not apply at the bottom of the pit, where water gathers in deep open pit mines.

Attorney General Hector Balderas argued that the rule would allow “widespread pollution.” He said in his petition that the case “raises the most important legal question New Mexico courts have faced with regard to protecting groundwater resources.”
The court found that the regulations “advance a comprehensive containment strategy” for acidic mining contaminants. Contaminated water in the pit is to be removed by evaporation or pumping, and groundwater monitoring wells are required outside the pit area to determine whether water quality standards are met at those locations, the court said.

The Copper Rule’s waiver of the water quality standards “reflects policy preferences and strategic choices designed to mitigate the environmental harms inherent in open pit copper mining,” the court said. “The waiver provision in no way invites industry to contaminate freely in that area.”

The justices rejected claims that the Copper Rule was invalid because it differed from past regulatory approaches for controlling water discharges at copper mines.

“To the extent the Copper Rule is a departure from past commission practice, the law makes clear that the commission is not constrained by its prior practices,” the Court said.

Source Article

Crime’s effect on NM’s commercial real estate and what buyers look for – Albuquerque Business First

Once you’re in, you’re hooked for the long haul.

That is the case for many in the commercial real estate industry. Take a gander at some of the top commercial real estate firms in New Mexico. Their longstanding employees have been in the business for 30, 35 or nearly 45 years. For many, that means staying in the same industry their whole career.

On the other hand, the industry is still attractive to newcomers. Many of the firms have agents who have been in the industry for two years or less. There will always be a need for office and warehouse space, and a steady stream of new brokers shows the industry is still kicking.

Largest New Mexico Commercial Real Estate Firms

Ranked by 2017 commercial transactions value

Rank Business name 2017 commercial transactions value 1 CBRE New Mexico $447.24 million 2 NAI Maestas & Ward Commercial Real Estate $193.7 million 3 Colliers International | Albuquerque-Santa Fe $179.65 million View This List

Commercial real estate deals differ from other types of real estate deals in what they require and the length of time it takes to get them done. Many commercial real estate deals take about two or three months from start to finish, according to our List respondents. Buyers or leasers have a list of amenities they look for in their space, including parking, security and easy access.

There are over 1,200 listings in New Mexico for office space, according to the Commercial Association of REALTORS – New Mexico, as of January 2018.

Albuquerque has been grappling with crime for years. The FBI Uniform Crime report for 2016 showed Albuquerque saw an increase in violent crime of 15.5 percent since the previous year and a 41.8 percent increase in murder.

Crime affects all industries but presents a unique challenge to commercial real estate, from managing property to selling and leasing. Here’s what some local real estate leaders had to say about several issues related to crime.

“Crime has affected our apartment communities that we manage. Lots of auto break-ins and auto theft,” said John Menicucci, qualifying broker and principal at Berger Briggs Real Estate & Insurance Inc.

Crime in the real estate and construction industries isn’t new, though.


Walt Arnold, managing director of SVN Walt Arnold Commercial Brokerage Inc.

“[Crime] continues to be a problem. Lighting is an important part of deterring crime. Increased patrol and tenant involvement have also been important,” said Walt Arnold, managing director of SVN/Walt Arnold Commercial Brokerage Inc.

Some longtime problems are still prevalent, in addition to new problems with security.

“Copper wire theft is still a big problem. Crime has increased the cost typically spent on security and raised the cost to insure property,” said Jim Chynoweth, managing director for CBRE New Mexico.

The problem doesn’t exist just in Albuquerque, either. In other areas of the state, property managers and sellers are making changes to better ensure safety at their locations.

“In Gallup, all larger shopping centers have on-site security and video systems,” said Dan Frady, owner and broker at RE/MAX Combined Investments Inc.

Crime’s effect on the industry isn’t just hurting the real estate companies.

“Albuquerque’s crime reputation is hurting all local businesses and causes lots of out-of-state companies to reconsider locating here,” said Michael Leach, managing member of Sycamore Associates LLC.

Whatever the solution — extra lighting, security cameras, patrols, fencing (all of which are measures the biggest commercial real estate firms in the state have taken) — it is clear crime is having an impact on the real estate industry.

Source Article