Tucumcari real estate market upbeat

by Chelle Delaney: Quay County Sun

Residential real estate sales in Tucumcari in 2006 were upbeat, according to the principles of several real estate companies.

“It’s been a pretty good year,” said Mickey Trousdale, of Trousdale Real Estate. “It’s been the best year since I’ve been in business for the last four to five years.”
“We had a good year,” said Richard Randals of the New Mexico Property Group.

“There are a lot of people looking for property.”
“Property values are showing a little appreciation and that’s a good sign,” said Jim McElroy of McElroy Associates.
Property values appreciated an estimated three percent i n 2006, McElroy said.

Sales were especially good in properties between $75,000 to $150,000, said Randals. “That is a good market category,” he said.

In fact, real estate agents would like it if there more housing stock in the mid-price range, said real estate agents.
Semi-retired and newly-retired newcomers are looking in this price range and seeking out the contemporary floor plans and amenities associated with this category that they would find in larger markets, McElroy said.

“We could use some new construction in this area,” McElroy said.

Deed transactions, for commercial and residential properties, in the county remained steady in 2006 compared to 2005, said Janie Murray, Quay County Tax Assessor.
“There was more activity in 2006 in the mid-price range and there were a few large ranch sales,” she said.

In 2005, there were 327 deed transactions, including quit and special warranty deeds, compared to 328 in 2006 as of Friday, Murray said.

The hobby farm or ranch, with homes on a five- to 10-acre site are being sought after by buyers, but there are not that many to be had, said the three real estate agents.
Newcomers are attracted by the climate, laid-back lifestyle and relatively low cost of living, they said.

Commercial property sales also appear to have picked up as well, based on sales along Route 66. Two of the city’s older motels on Route 66 were purchased and reopened in the last six months. They are the Safari and the Apache motels, which with their signage are considered marquee motels on the mother road.

And recently, the old Pizza Hut building on Route 66 building was purchased by Mike and Rachel Hicklin for a future business venture.

“We’ve not come to any one decision yet,” Hicklin said. “We’re looking at multiple opportunities.”

Meanwhile, work has been done on the building to make it weather-ready, Hicklin said.

“Whatever it is, we are trying to do something good for the community,” he said.