New Mexico Land For Sale

LAS CRUCES - Come Tuesday, the Doña Ana County Board of Commissioners will decide whether to give an initial approval to a development company seeking millions of dollars in future tax revenue for infrastructure in a huge development near Santa Teresa.

The El Paso-based Verde Group is requesting the county commission commit to dedicating 75 percent of the project’s future sales tax revenue toward public infrastructure.

At issue will be a new financing mechanism, which has drawn its share of critics and proponents.

Under the mechanism - called a Tax Increment Development District - Verde would front $113 million for projects, roughly half of the estimated cost of infrastructure for its first development. The company would eventually be reimbursed from the sale of bonds, which would be repaid by sales tax revenue coming from within the boundaries of the development.

The Verde Group is requesting three TIDDs - two for industrial parks and one for the company’s first housing development, a 5,000-lot subdivision called Rialta Mesa. The tax districts, allowed by a relatively new state law, would be the first-ever in the unincorporated areas of Doña Ana County, as well as some of the first-ever in New Mexico.

Advocates have argued the districts will stimulate economic development in Santa Teresa and encourage the sort of large-scale master-planning the county wants to promote. Critics, however, have said the tax districts amount to an unnecessary subsidy for a developer in a region where growth is likely to occur regardless of whether tax districts are in place. In addition, they say the county risks siphoning off tax revenue that might be needed in other areas.

The Verde Group has contended the development won’t go forward without the tax districts, as well as a second type of financing it plans to request from the county later on. Also, the company has said an approval Tuesday is critical to keep on a time line of starting construction next year. In addition to the county commission, two state boards would have to sign off on the proposal soon for it to reach the next level of authorization, the state Legislature, which convenes in mid-January.

What’s a TIDD?

To establish a TIDD, state law calls for counties or cities to set base years for tax revenue within a district, which is a defined geographical area. Up to 75 percent of the county and state’s revenue above that level in years to come would go to repay infrastructure bonds.

The Verde Group’s proposed TIDDs are all located near the international border, along Pete V. Domenici International Boulevard. The proposed base year is 2006.

Eligible projects range from sidewalks, to streets, to lighting to wastewater treatment facilities, though it’s up to the county or city to work out agreements with a developer about what improvements qualify for reimbursement.

The state law allows for both property and sales tax to be diverted to TIDDs. The Verde Group has said it’s seeking sales tax only.

A financial adviser for Doña Ana County has estimated the three TIDDs would generate nearly $1.1 million to repay bonds in 2011 and roughly $7 million by 2020.

Doña Ana County wouldn’t be liable for failed bonds, but officials have said a default would reflect poorly on the county.

The county would take over infrastructure after it’s built, and, after bonds were paid off, Doña Ana County and the state would resume collecting the full portion of tax revenue.

New to New Mexico

A statute allowing for Tax Increment Development Districts cleared the Legislature in 2006, after being promoted heavily by developers of a 12,900-acre, Albuquerque project called Mesa Del Sol.

Though the financing mechanism is new to the state, it’s a take on tax increment financing that has been used in other parts of the country for years.

Tax increment financing originated in California in the 1950s as a way to revitalize blighted urban areas, said Toby Rittner, executive director for the Ohio-based Council of Development Finance Agencies. He said the concept spread, and the number of states adopting tax increment financing has boomed in the last 15 years.

“You saw states start to bring it on in the late ’80s, early ’90s, but then you really see them start using it in the ’90s,” he said.

Tax increment financing, which pledges future tax revenue to pay off bonds, was initially applied only toward revitalization efforts, but it was soon adapted to include so-called greenfields - previously undeveloped, vacant land. The Verde Group’s development would fall into this category.

The Verde Group’s TIDD proposal is one of two in Doña Ana County. The city of Las Cruces is in the midst of considering a tax district, as well. The proposal differs from the Verde Group’s because it will encompass an area of existing development in the city’s downtown region. That tax district is aimed at funding revitalization-related projects.

The greenfield debate

Some critics, including San Miguel resident James Kadlecek, object to the use of TIDDs in greenfields, especially those located on the outskirts of metropolitan areas.

Kadlecek, a former director for the Mesilla Valley Economic Development Alliance, said he believes the region proposed by Verde is bound to grow because of its proximity to El Paso. Because of that, he said, the Verde Group’s project doesn’t warrant creating a TIDD.

“The area there is clearly in the pattern of growth for El Paso metro,” he said. “Development is going to happen there, we don’t need to provide an incentive for it. … It just seems to me this company is asking the public to pay for costs they ought to be able to pay for themselves. ”

Kadlecek said he doesn’t mind the use of tax districts in Verde’s two industrial areas because those could result new jobs.

Rittner said the use of tax increment financing in greenfields isn’t uncommon. He estimated roughly 30 to 40 percent of tax increment financing is applied to previously undeveloped areas.

Kadlecek’s said one of his main concerns is the type of infrastructure that will be paid for using public dollars. Historically, the county has footed the cost of some infrastructure, including portions of arterial roads and trunk lines for utilities, while developers have picked up the tabs of projects such as streets and the extensions of utilities to lots.

County Manager Brian Haines has assured money from TIDDs in Verde’s projects will go toward infrastructure the county has typically paid for, such as water and utility systems.

In addition, Haines said, the tax districts will take the guesswork out of anticipating where growth is going to occur, something that has been problematic for the county in the past. Haines pointed to the county’s sale of bonds for a water utility in Santa Teresa in 1996.

“We were waiting in hopes development would occur, and we still only have 12 or 15 customers,” he said.

The Verde Group has said previously that constructing needed infrastructure from the ground up would be too costly for the company. Verde also plans to petition the county for a Public Improvement District, a PID. This type of financing adds a new assessment to a homeowner’s lot, on top of property tax. Revenue repays bonds for infrastructure.

Verde executive Jack Darnall emphasized the company won’t move forward unless the financing is approved.

“We can’t do the project without a TIDD and a PID,” he said, after an informational session last month with county commissioners. “We need both for it to work economically.”

Future tax flow

Tax district opponents also argue that the financing option would tie up future tax dollars. But advocates say the tax revenue wouldn’t exist without new development, which hinges on the creation of TIDDs.

Good Jobs First, an organization based in Washington, D.C., has several criticisms for tax increment financing, including that it diverts tax revenue from a local government’s general fund.

“Once you create this TIDD, up to 75 percent of the tax … can only go to subsidize the development,” said Greg LeRoy, executive director for Good Jobs First. “It can’t go to support any other activity outside of the TIDD.”

LeRoy said New Mexico’s statute is farther-reaching than most because it allows as much as 75 percent of the state’s share of sales tax to be diverted, in addition to a county’s or city’s portion.

County Commissioner Kent Evans said he’s “leaning toward approval” of Tuesday’s measure, mostly because he feels it will benefit the county in the long-run.

“I think they (Verde) really do need this to get started,” he said. “I think the returns are going to outweigh the investments. It’s going to benefit us all.”

TIDD proponents also highlight that the county and state will receive their full portions of tax revenue once bonds are paid off.

County Commission Chairwoman Karen Perez expressed doubts the county will able to maintain infrastructure in the large development while bonds are being paid off. She said that’s an especially important concern, considering infrastructure in most of the county’s rural areas isn’t up to par.

“Can the county take on more infrastructure and services?” she said.

Master-planned community

The Verde Group’s Rialta Mesa is the first part of a master plan for a development that could one day hold between 70,000 and 100,000 people.

Verde executives have said the development, designed with a so-called new urbanism style of planning, will feature retail centers and schools interspersed throughout homes, reducing the need to travel. In addition, trails and bicycle pathways would link the community, and the development would emphasize retaining open space. They say a mix of housing types is proposed.

The style is in contrast to the typical large-scale development in the Las Cruces area, which often results in high-density homes punctuated by occasional strip malls.

County Commissioner Bill McCamley said his decision will come down to a comparison of the benefits of a TIDD and the costs.

“If a developer can show far and above what a normal developer would go, as far as schools, open space, I think it’s up to the county to consider incentivizing development,” he said.

McCamley said he likes what he’s seen of Verde’s plans so far, but he does have some concerns, including whether the county can guarantee a portion of homes will be considered affordable housing.

McCamley, who’s running for New Mexico’s 2nd Congressional district seat, said he plans to disclose at Tuesday’s meeting that he has received campaign contributions from Verde executives. He said he doesn’t plan to recuse himself from the vote.

“I’ll make decisions based on what is, in my assessment, the best policy for Doña Ana County,” he said. “There will be no other reasons for my decisions.”

Questions remain

Rittner said his organization, Council of Development Finance Agencies, promotes sound use of financing tools. He said an important consideration on the part of government officials is setting policies that outline how tax increment financing will be used and then ensuring individual proposals match up with them.

Goals might be to only use it in cases of revitalization or to improve housing in an underserved market.

In addition, Rittner said, governments should take steps to keep the public informed about the process.

County Commissioner Dolores Saldaña-Caviness said she generally likes the Verde Group’s proposal, but she’s not certain she agrees with dedicating 75 percent of future sales tax.

“We need to make sure the interests of Doña Ana County are protected, no matter what we do,” she said. “We have to make sure we do everything right.”

Perez said she hasn’t decided how she’ll vote Tuesday, but her decision will hinge on how well questions about specifics of the proposal are answered by county staff. She said the county’s review of the Verde Group’s application for TIDDs, has reminded her of how advocates of a tax related to Spaceport America pushed that item through the county commission early this year, when unanswered questions remained.

“There’s a lot of loose ends, and really I’m getting flashbacks to the spaceport, in that people are saying: “We’ll work out the details later,’” she said.

Kadlecek said the county is setting a precedent in how it deals with TIDD requests. He said he thinks officials should consider decreasing the percentage of tax revenue that will be dedicated to the tax districts or perhaps limiting the use of TIDDs to the industrial areas only.

“At the very least, I hope the county does some hard negotiating,” he said.

Source: By Diana M. Alba Sun-News reporter
Diana M. Alba can be reached at dalba@lcsun-news.com

North West Markets Named to Top Real Estate List
Destin, FL (FV Newswire) - Driven by exceptionally strong local economies the top 10 Housing Predictor buyers markets at the halfway point of 2007 are expanding across the nation from the southern half of the country into the Greater Pacific North-West. Seattle, Washington and Portland, Oregon have been named to the top 10.

The top 10 buyers markets have the highest probability of reaching their forecast appreciation of more than 250 local housing markets forecast by Housing Predictor, which forecasts the best buyers markets annually and updates the forecast at the mid-way point of each year.

Five Texas markets remain on the list, including McAllen in second place, Dallas and Houston. Texas has the strongest real estate market statewide in the nation, despite an increase in foreclosures in some areas.

Seattle’s exceptionally strong local economy pushed by growth in high-tech and the booming aerospace industry has pushed the housing market to new heights. Sales have begun to slow, but through at least the end of 2007 the market should remain strong, and perhaps even last into 2008.

Portland, Oregon has also been added to the top 10 buyers markets, mainly because of its long endurance for appreciation with the growth of industry producing higher employment levels in the community. Portland has seen home prices nearly triple in the last decade in some areas. The volume of sales in Portland, however, like many other areas of the nation have begun to slide over the past few months, but it should be at least several months before pricing levels begin to deteriorate.

Housing Predictor forecasts more than 250 local housing markets in all 50 U.S. states and has become a major resource for homeowners, real estate investors and potential home buyers. It’s independent unbiased forecasts have proven to be more than 85% accurate.

With a market that shows little signs of slowing, Albuquerque, New Mexico remains as the top 10 buyers market with forecast appreciation of 9.1% through the end of the year. Albuquerque is bulging with nearly one million residents, attracted to a warm climate and a growing industrial community, including a new movie studio and airplane factory.

The southern half of the nation is experiencing a migration of new residents never witnessed before in the nation’s history as more U.S. residents move from colder climates to the warmth of the southern half of the country.

To see the entire top 10 buyers markets forecast, your own market forecast and search for real estate listings and foreclosures visit http://www.housingpredictor.com

Source: http://www.financevisor.com/

Winemakers take medals at state fair

New Mexico State Fair showcases best work of state’s winemakers winners were best of show awards for commercial wineries went to Tim and Tom McGinn of Arena Blanca Winery in Alamogordo and Paolo D’Andrea of Luna Rossa Winery in Deming.

In addition to best of show, wines are awarded gold, silver and bronze medals. Leading medal winner in the commercial competition was Luna Rossa Winery with four golds, seven silvers and four bronzes.

The next Southwest Regional Vine and Wine Educational Conference will be held Feb. 29-March 1 in Albuquerque.

For complete State Fair winemaking competition results, visit the New Mexico Vine & Wine Society’s Web site at www.vineandwine.org/2007Results.htm.

A great step by the governor to protect New Mexico’s land:

SANTA FE, New Mexico (ENS) New Mexico Governor Bill Richardson today expressed his opposition to a new $2 billion, 1,500 megawatt coal-fired power plant proposed for Navajo Nation lands in northwestern New Mexico near the Four Corners area.

“I am gravely concerned about the potential environmental impacts of the proposed Desert Rock Energy Facility,” said the governor, who is a candidate for the Democratic presidential nomination. “Each new conventional coal plant built without significant carbon dioxide controls is a step backwards and does not move us towards a future of more safe and efficient energy use,” Richardson said.

“The estimated 12 million tons of carbon dioxide emitted each year from the Desert Rock Energy Facility would increase New Mexico greenhouse gas emissions by about 15 percent, making my aggressive greenhouse gas reduction goals difficult – if not impossible – to meet.”

source: mywire.com; Environment News Service, July, 2007

If there is any good news in the sub-prime mortgage scandal, it is that New Mexico is coming out relatively unscathed in the number of risky loans within the state.  An article from New Mexico Business Weekly (below) highlights some of the reasons.

“Mortgage Shakeout… The subprime lending crisis has touched Thornburg and Frost in New Mexico, but the state has dodged the worst due to fewer risky loans.

While the nationwide mortgage credit quality crisis spawned by lax subprime lending has had an impact on New Mexico, the state has been spared the worst of the carnage that has claimed dozens of lenders around the country.

The reasons? Two big mitigating factors have helped lessen the impact: a below-average percentage of subprime lending, and the fact that much of subprime volume is done by out-of-state lenders.”

source: New Mexico Business Weekly - Aug. 31, 2007 by Mark Fogarty

Spending a day in the quiet expanse of the Valles Caldera National Preserve is worth the effort of booking reservations and getting to this remote location. Hidden beyond Los Alamos in the New Mexico Jemez Mountain Range, the 360-square-kilometer (89,000-acre) preserve is a secret garden enclosed by a geologic wonder, just two and a half hours from the Albuquerque airport. From Albuquerque, the highway winds through pueblos and red rock canyons before it reaches Jemez Springs and the preserve.

Those who wish to see the interior of the Valles Caldera preserve, or to see any of the smaller valles, might want to book a spot on one of the guided excursions, which range from group hikes to geology or archaeology tours to elk hunts or fishing clinics. If you do have the time, the geology tours are frequent and inexpensive, and worth it. The preserve geologist leads walking tours through the caldera at 10 a.m. and noon every Friday, Saturday and Sunday. In an effort to make the caldera more accessible, the preserve does not require reservations for the geology tours — you just show up ahead of time and pay a modest $5 fee.

If you want to get deeper into the preserve, a hiking tour is your best bet. Most of the hiking trails are about 11 kilometers long, pass over the forested resurgent domes and offer spectacular views of the grassy meadows below. You can only hike from June through September, and hikers are advised to bring extra clothing for the elevation change. The hikes take 4 to 5 hours to complete, plus 30- to 60-minute van rides to and from the trailheads. There are guided and unguided tours, both of which require reservations and a $10 to $15 fee.

For those who prefer to sleep in beds, the town of Jemez Springs several quaint hotels and is a delightful place to spend an evening. Jemez Springs is on Highway 4, about half an hour west of the main gate of the Valles Caldera. The town rests at the feet of red rock mesas, the eroded remnants of lava flows from the caldera’s volcanic field. It is also the best place to enjoy the most inviting features of the volcanic landscape — the hot springs. The Jemez Springs Bath House in the middle of town offers indoor tubs and spa-like amenities such as massages and body wraps. Giggling Springs is a privately owned outdoor pool, and the local Zen center allows anyone to use its springs when workshops are not in session. All three are walking distance from the local hotels, and are a good choice for bathers who would rather not hike or drive after a full day in the caldera. For those who like to work for their bath, there are several hot springs on U.S. Forest Service land within driving distance of Jemez Springs. Directions and GPS coordinates are available on the Jemez Springs Web site.

After your foray into the wilds of the caldera and hot springs, head into Los Alamos which is about half an hour east of the caldera’s main gate and offers some great golf, as well as local art and cuisine. As Los Alamos was the birthplace of the first atomic weapon and is now home to the Los Alamos National Laboratory research community, nuclear history buffs may want to check out the Bradbury Science Museum, which is a good place to learn about the Manhattan Project and the current research pursuits at Los Alamos (they are many and varied).

If you’re traveling through the Desert Southwest, it’s worth a quick jaunt off the main highway into the Valles Caldera, even if only to see it from the road.

author: Jenna Beck

source: http://www.geotimes.org/july07/article.html?id=Travels0707.html

Funding includes $2,314,000 for land and wildlife projects, and $1,200,000 for clean energy projects

July 12, 2007 — SANTA FE – New Mexico Governor Bill Richardson today announced he will distribute a total of $3,514,000 to 17 projects throughout the state designed to promote land, wildlife and clean energy.

“We must protect our state’s extraordinary landscape – including working farms and ranches – and our abundant wildlife, and promote clean energy development,” said Governor Richardson. “A concentrated effort to fund these types of programs creates an important legacy for future generations to enjoy, while positioning our state to build a more vibrant economy for a cleaner, more secure energy future.”

Farm/Ranch Land Protection and Natural Lands and Wildlife Projects include:

Circle A Ranch Conservation Easement $500,000

Conservation easement on 300 acres in the Los Pinos Valley of the Naciemento Mountains above Cuba in Sandoval County. The property is surrounded by the Santa Fe National Forest and is near the San Pedro Wilderness Area and the National Continental Divide Trail. This is a priority watershed that provides agricultural and domestic surface water and this project will help ensure the quality and quantity of surface water for the future. The conservation easement will tie the high priority water rights to the land and protect the acequia from divided ownerships.

Socorro Bosque Project Conservation Easement $294,000

Socorro Bosque project provides for flood plain and wildlife habitat enhancement and restoration, watershed health and control of exotic species, plus a limit on future development.

Ranchland Conservation Easement in Southeastern New Mexico $180,000

This project will protect approximately 10,000 acres of prime rangeland for ongoing livestock production from subdivision and development. The easement will also preserve high-quality habitat for a variety of wildlife, including mule deer, elk, and pronghorn antelope, as well as scenic, open space.

Conservation Easement in Tome, Valencia County $125,000

A conservation easement that is located on traditional farmland on one of the middle Rio Grande’s most historic farming areas.

Bioresearch Ranch Conservation Easement in Hidalgo County $75,000

This project will protect 1,700 acres of pristine, natural habitat in the Peloncillo Mountains for a variety of flora and fauna, including several state and federally listed threatened and endangered species. The property is adjacent to the Central Peloncillos Wilderness Study Area, administered by the U.S. Bureau of Land Management, and is part of a larger landscape that has been federally designated as both an Area of Critical Environmental Concern and a Research Natural Area.

Forests, Watersheds, Natural Areas and Wildlife Habitat Protection Projects include:

Rio Grande/Tonuco $300,000

These funds will be used for protection and enhancement for the first phase of 784 acre project straddling Rio Grande in Selden Canyon for wildlife habitat, recreation, agricultural preservation, and research.

La Cienega/Rael $200,000

This is a fee purchase of 180 acres on the Santa Fe River in BLM’s La Cienega Area of Critical Environmental Concern. El Camino Real National Historic Trail runs through the area.

La Joya, Bernardo Ladd Gordon Waterfowl Management Area $75,000

La Joya, Bernardo Ladd Gordon Waterfowl Management Area, owned and managed by the State Game Commission, provides wildlife habitat for hunting and viewing. This project will upgrade outdated water infrastructure for 1,000 acres of wetland ponds.

Black River Watershed $6,000

Black River Watershed contains over 25 species of great conservation value occurring in the Black River drainage, including 13 listed species. This project will inhibit trespassing that poses a threat to the critical habitat by providing protective fencing.

Black River Learning Center $2,500

This project will provide watershed education and outreach in an outdoor educational display focusing on ecological diversity of the ecology of the Black River Watershed (the main tributary of the Pecos River).

Pecos River Aquatic Species $4,500

This is an outreach and education project about the introduction of nuisance species.

Outdoor Recreation and Trails:

Bottomless Lake State Park $252,000

This is a wetlands restoration project on 43 acres that will restore and enhance native aquatic habitat for 150 species (including several rare species), help restore ecosystem function within a tributary watershed to the Pecos River, and expand wildlife-related outdoor recreation and education opportunities.

Turquoise Trail; Gutierrez Canyon $300,000

This is a fee purchase of 420 acres that stretches from NM highway14 National Scenic Byways to the existing Gutierrez Canyon Open Space. This project would double the size of this widely used recreational area and create a trailhead right off NM highway14.

Clean energy projects include:

Northern Recycling $200,000

Funding will enhance recycling opportunities in Northern Counties above Santa Fe.

The Renewable Energy Transmission Authority - $500,000

This is an authority designed to develop electric transmission infrastructure with an emphasis on renewable energy development.

Energy Efficiency and Renewable Energy Act Audits $350,000

This program will conduct certified energy audits and provide certification to the New Mexico Finance Authority, which can issue up to $20 million in bonds to fund energy efficient and renewable energy renovations at state government, university and public school facilities.

Sustainable Building Professional Infrastructure Development $150,000

This program is designed to advance and expand the energy efficient green building professional infrastructure, provide for training workshops and develop promotional material.

In all, the $3.4 million will enable these projects to move forward with other matching funds that are valued at more than $30 million. These projects cover the state and specifically focus on rural areas in Sandoval, Hidalgo, Santa Fe, Valencia, Lincoln, Chaves, Eddy, Dona Ana, Bernalillo, Socorro, Rio Arriba, San Miguel, Guadalupe and Quay Counties.

Source: New Mexico Governor

To learn more about the “Land of Enchantment” you can take a trip to explore the scenic byways throughout the state of New Mexico. The “New Mexico Tourism Dept.” suggests the following routes:

“From the lush river landscapes of the Narrow Gauge Scenic Byway to the legendary Route 66 National Scenic Byway, New Mexico’s highways offer sights to satisfy everyone.”

New Mexico’s Scenic Byways:

1. Narrow Gauge Scenic Roadway -Visit the Narrow Gauge, known for its outstanding scenic, cultural, and historic qualities.

2. Wild Rivers Back Country Byway - Cutting through the high plains of northern New Mexico, the Rio Grande flows through an 800 foot deep volcanic canyon.

3. Enchanted Circle Scenic Byway - This winding route takes you through some of the most beautiful areas of North Central New Mexico.

4. Dry Cimarron Scenic Byway - A multi-state route traveling through Colorado, Oklahoma and New Mexico.

5. Jemez Mountain Trail National Scenic Byway -Traveling this trail is a journey through time in a leisurely day trip takes you past fantastic geologic formations.

6. Puye Cliffs Scenic Byway - Visit the best known landmark of the Santa Clara Pueblo.

7. Santa Fe National Forest Scenic Byway - Magnificent mountain scenery and cool summer temperatures lure vacationers to fish, hunt, camp, hike and backpack.

8. Santa Fe Trail National Scenic Byway - Explore the rich legacy of western expansion in Colorado and New Mexico.

9. Route 66 National Scenic Byway - Come travel the legendary Route 66 Urban/Rural byway.

10. Corrales Road Scenic Byway - Travel Corrales Road, shaded by cottonwoods and offering breathtaking views.

11. Turquoise Trail National Scenic Byway - Leave the freeway and venture onto the Turquoise Trail, the scenic and historic area that links Albuquerque and Santa Fe.

12. Mesalands Scenic Byway - The very flat tops and steep rock walls of mesas are a unique feature of central New Mexico.

13. Salt Missions Trail - Take a journey back in time and travel along the Salt Missions Trail.

14. Abo Pass Trail - The Abo Pass Trail is a unique route which showcases the natural beauty of the Salt Missions area.

15. Socorro Historical District Scenic Byway - The Socorro Scenic Byway winds through the Socorro Historical District.

16. Quebradas Back Country Byway - The Quebradas (kay-brah’-das) Back Country Byway crosses about 24 miles of rugged land colorful country east of Socorro.

17. Trail of the Mountain Spirits National Scenic Byway -The Trail of the Mountain Spirits National Scenic Byway beckons you to experience the beauties of southwestern New Mexico.

18. Geronimo Trail National Scenic Byway -The Geronimo Trail National Scenic Byway road is a picturesque and unique drive.

19. Lake Valley Back Country Byway - Meandering drive on dirt roads takes you to ruins of 1880s mining town of Lake Valley.

20. Billy The Kid National Scenic Byway - Come celebrate the history of the Wild West on Billy the Kid Trail.

21. Sunspot Scenic Byway - The majestic Sacramento Mountains offer the traveler spectacular views of the Tularosa Basin and White Sands National Monument.

22. Guadalupe Back Country Byway -The Guadalupe Back Country Byway provides a gateway for access to many recreational opportunities.

23. El Camino Real National Scenic Byway - Travel the Royal Highway of the Interior Land.

24. The High Road to Taos - Through its art, landscapes, and history, the High Road to Taos will tell a story of its past and present

25. Native Heritage Trail - The Native Heritage Trail exposes visitors to exploration routes and world-famous archeological sites.

26. La Frontera del Llano - Spend the day traveling through the grasslands and plains of New Mexico and experience the natural “Wild West”.

Source: http://nmtourism.org/go/loc/favorites/page/attractions-scenicbywaysmap.html

According to the “Housing Predictors, Top 25 Real Estate Market Forecast” Albuquerque, NM has been rated #1 in the Top 25 housing markets for appreciation. See article below:

“Driven by strong local economies the Top 25 housing markets with the highest forecast appreciation at the mid-year point of 2007 are further proof that all real estate is local in nature, and that despite news reports that the entire nation’s housing markets are depreciating, many states have housing markets that are appreciating strongly.

Fifteen states are now represented in the Top 25 markets, two more than at the start of 2007, including New Mexico. Albuquerque retains it’s #1 spot with a projected 9.1% in appreciation for the year. Growing McAllen, Texas is at second on the list with projected appreciation of 8.9% in 2007.

Housing Predictor’s 25 top markets have the highest probability of reaching their forecast appreciation out of more than 250 local markets forecast.

The great majority of the real estate markets on the Top 25 List are in the southern half of the nation. But bursting New York City and Spokane, Washington were added to the list at the mid-year update. Six Texas markets made the top 25.

Salt Lake City, Utah captured third due in part to Californians fleeing the Golden State. More Californians are actively looking to move out of the sunshine state than in the state’s history.”

Rank	Real Estate Market	Median Price	2007 Forecast
1.	Albuquerque, NM	$194,000	9.1%
2.	McAllen, TX	$112,000	8.9%
3.	Salt Lake City, UT	$241,000	8.6%
4.	Austin, TX	$174,000	8.4%
5.	Seattle, WA	$380,000	8.2%
6.	Houston, TX	$148,000	7.8%
7.	Biloxi, MS	$204,000	7.5%
8.	El Paso, TX	$132,000	7.2%
9.	Nashville, TN	$155,000	6.9%
10.	Portland, OR	$241,000	6.7%
11.	San Antonio, TX	$154,000	6.5%
12.	Las Cruces, NM	$ 154,000	6.4%
13.	Little Rock, AR	$117,000	6.4%
14.	Dallas, TX	$161,000	6.4%
15.	Monroe, LA	$164,000	6.3%
16.	Boise, ID	$162,000	6.1%
17.	Jackson, MS	$137,000	6.1%
18.	New York, NY	$535,000	6.0%
19.	Raleigh, NC	$239,000	5.9%
20.	Newport, NC	$208,000	5.8%
21.	Fort Smith, AR	$112,000	5.8%
22.	Spokane, WA	$178,000	5.8%
23.	Charlotte, NC	$235,000	5.7%
24.	Bar Harbor, ME	$398,000	5.5%
25.	Hot Springs, AR	$159,000	5.4%

Source: http://www.housingpredictor.com/top25.html