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Historic Downtown Las Cruces Revival

by Tom Whatley Real Estate, LLC

 

 

 

 

 

 

 

If you are an investor interested in learning more about opportunities in the Downtown area, please don't hesitate to call me at (575)649-2256.

 

There are some big and exciting changes happening to our Main Street Downtown. One of these big changes is a Plaza. The plaza, built at an approximate cost of $5.7 million, includes a large stage, a splash pad, a sundial near its center, and benches and shade trees. This historic area within Las Cruces that has always attracted tourists and investors. Now as the area is revived, it has become a huge point of interest for many citizens, developers, as well as people looking to relocate to Las Cruces. Galleries and museums such as the Branigan Cultural Center, The Museum of Nature and Sciences, and The Museum of Art have relocated to the downtown area slowly over the years, creating a very art centered community within the area. In fact, on Thursday nights the Museum's and galleries stay open late to encourage people to walk from museum to museum. This area is also home to places like Coas Bookstore, the Rio Grande Theatre, and the Black Box Theatre. The Las Cruces Farmers and Crafts Market is held outside along the newly renovated streets here each Wednesday and Saturday mornings, with special evening markets during the warmer months. Historic Downtown Main Street has already come a long way and there are plans to further the renovations. Many people are excited for these continued changes, as the city believes this will create a less car-dependent Downtown with plenty of walkable options for living, working, shopping, and entertainment. A stage for outdoor entertainment is currently underway, along with a splash pad water feature that will have its grand opening next month, in September. There is also a possibility for a parking garage in order to free up space currently being used as parking lots. The idea is to use those parking lots for housing or mixed use buildings since these lots are so close to the Plaza. Recent studies indicate there is a strong potential for additional commercial and housing development in Downtown.

The National Association of REALTORS® 2015 Community Preference Survey of American Priorities in Housing reached this conclusion:

“…Americans prefer walkable communities more so than they have in the past. Forty-eight percent of respondents reported that they prefer to live in communities containing houses with small yards but within easy walking distance of the community’s amenities, as opposed to living in communities with houses with large yards but they have to drive to all amenities. And while 60 percent of adults surveyed live in detached homes, 25 percent of those respondents said they would rather live in an attached home and have greater walkability,” (National Association of REALTORS®, 2015).

 

 

 

 

According to documents released by the city in regards to the progress in the Downtown area, "There is immediate opportunity for redevelopment at Amador Avenue and Main Street, framing the southern entry to Downtown. The Restoration and re-purpose of the Amador Hotel and the redevelopment of the Dona Ana County Courthouse provide a near term opportunity to build activity at the southern end of Main Street," (City of Las Cruces, 2016).

 

View the entire document of the Main Street Downtown Master Plan

 

View the entire document of the Plaza's Final Design

Renting or Buying?

by Thomas Whatley Real Estate, LLC

It isn't just about the money! There are a lot of benefits to owning a home, a lot of them have to do with the freedom to do what you want with your space. 

 

Buying

Paint the inside any color you want

Make improvements that benefit you, not the landlord

Get the pet(s) you’ve always wanted

The ability to make changes – like adding pet doors, landscaping, customizing your closet

Improves your credit

 

Renting

No matter what happens with the value of the home, you will never gain equity

Limited-or no-ability to personalize your living space

No tax advantages

Should I Buy a Home Now?

by Thomas Whatley Real Estate, LLC

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall down the road, while others are convinced that home prices will go up.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have fluctuated, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, a one point rise in interest rates could cost tens of thousands of dollars over the life of your mortgage!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates while they are still available.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

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Tom Whatley Real Estate, LLC
Tom Whatley REALTOR®
CRS® ABR® MRP® AHWD® SRES® GREEN® RSPS® SFR® CDPE®
Steinborn & Associate Real Estate
141 N. Roadrunner Parkway, Suite 141
Las Cruces NM 88011
Office: 575-522-3698
Mobile: 575-649-2256
Fax: 575-522-4987