Tag: Amrep

Posted on

AMREP Has Record Quarter

I guess you could say that AMREP owned most of Rio Rancho at some point. They basically started Rio Rancho, the first house I bought here was made by AMREP. Thankfully they are out of the house building market.

Their latest financial report is a good indicator that the real estate marked hasn’t slowed down that much here.

Revenues of the Company’s AMREP Southwest real estate subsidiary were $37,092,000 in the first quarter of 2007 compared to $7,689,000 in the same quarter last year. This substantial revenue increase was primarily due to increased sales of both developed and undeveloped lots in AMREP Southwest’s principal market of Rio Rancho, New Mexico, where interest in the Company’s landholdings did not appear to be impacted by the slowdown in housing that has been reported in many parts of the country.

Posted on

House Hunting Week 4

The trend continues, I either like the house and not the land or I like the land and not the house.

This house kind of had a weird lay out.

  • I’m not so much in love with the sunken living room, especially since it was sunken about 6 inches or less it seemed.
  • The kitchen was small and it didn’t seem to have much room to expand
  • No back yard access with a vehicle

This was a Amrep house built in the early 1970s. I’m not a huge fan of Amrep homes (more on that some other time) but this one had a very nice layout. THe kitchen was very well done. The owners had already done most of the renovation work I would have with wood floors and painting and so-forth.

Unfortunately the yard was really that big (.25 acres or maybe smaller). And I wouldn’t be able to talk them down much considering the work that was done.

This house has a nice large back yard with block walls. It’s also a Amrep house and lives up the the “werid” design that some Amrep houses have. I don’t mind a 2 story house but this one was just not right.

Finally the last house of the week. Another Amrep house that has a interesting design. I liked it actually. They had put tile on the kitchen counters, it looked nice but was the kind of adobe tile that wasn’t uniform. Thus the counters are uneven. And of course the plot of land was too small/had no vehicle access.