Cheap Albuquerque Foreclosed Homes for Sale

Buy Foreclosure Houses, Apartments & Condos in Albuquerque

ForeclosureDeals offers a solid database of Albuquerque bank owned foreclosure homes and Albuquerque government foreclosed homes for sale from federal agencies such as: HUD, VA, FHA, Freddie Mac, Fannie Mae, USDA. These Albuquerque repossessed homes can be found in a number of ways, such as pre foreclosures, short sales, foreclosure auctions, flipping homes, bankruptcies and home foreclosures for sale in Albuquerque, NM. Our up-to-date real estate foreclosure listings in Albuquerque offers cheap distressed properties for buying & investing, in a great variety of properties like commercial & residential, multi & single family homes, lands, condos and apartment foreclosures in Albuquerque area.

About Foreclosed Homes in Albuquerque, NM

Albuquerque is known to be one of the oldest cities in the United States and is very popular because it is rich in history and culture of both Native American Indians and old Spanish settlers. If you're thinking of investing in a real estate property such as an apartment, a condominium, or a single-family home in the largest city of New Mexico, you might be in for a great treat. Most bank foreclosures are sold at very cheap prices to recover the outstanding debt. But, Albuquerque doesn't just offer fabulous homes for sale, it offers them at some of the cheapest rates in the country. Take advantage of these opportunities and start searching for foreclosed homes for sale in Albuquerque, NM now!

Albuquerque - Hot Real Estate in the American Southwest

When investing in real estate properties, it is important to locate properties that have upside potential. This includes properties in prime locations in hot, in-demand cities - cities with vibrant economies and solid prospects for entertainment, employment, and services that people want in this day and age.

One of the most promising examples of exemplary real estate investment potential is Albuquerque, New Mexico - the sixth-fastest growing city in the U.S. and one of the country's cultural gems. Albuquerque has a metro area population of 907,775, which means it has the amenities of a big city without the population density or crowding that comes with other big, sprawling metroplexes. Tourists and retirees flock to Albuquerque thanks to its terrific year-round climate and gorgeous surroundings, and the local economy - based on technology - has attracted billions of investment dollars over the years. Additionally, Forbes magazine has ranked Albuquerque the best city in America for business and careers for its growing technologically-based economy.

For these reasons and more, Albuquerque is a prime destination for real estate investors looking for unique opportunities.

Median Home Values

Homes in Albuquerque are typically worth a median value of $180,000, which is slightly higher than the usual value for other cities of its size. This is primarily a product of the high-tech nature of the local economy, plus the high growth rate the city enjoys. The city's foreclosure rate, approximately one out of every 544 properties, is higher than the state's rate but lower than the national average of 624 foreclosures per housing unit.

Best Places to Live

Some of the best places to live in Albuquerque are determined by how close they are to everything else - including amenities, transportation, services, entertainment, shopping, and recreational activities - and by how stable the local market is. When talking about neighborhoods, this means the lower the foreclosure rate, the better.

Based off of this criteria, some of Albuquerque's best areas and neighborhoods to live in include Alban Hills, City View Estates, Clayton Heights, Mirabella, Parkland Hills, Southeast Heights, South San Pedro, Trumbull Village, University Heights, Victory Hills, and Winterwood Park.

New Mexico's Foreclosure Laws

New Mexico has a judicial-foreclosure process in which lenders must seek approval of the court before it can foreclose on a borrower. The timeline of this procedure typically averages 120 days from start to finish, and is initiated when the lender files a complaint called a lis pendens against the borrower in the District Court. The court then determines the amount of debt owed, if any, and whether or not the property will be allowed to be foreclosed on and sold at auction. Following this decision, the borrower has nine months to redeem the property by paying the highest amount tendered at the foreclosure auction for the property, plus interest, costs, and fees. (It must be noted that non-judicial foreclosure does exist in New Mexico, but only for commercial properties over a certain value).