Great article written by John Hummer, President and Qualifying Broker at Steinborn & Associates Real Estate here in Las Cruces NM. I wanted to share this, I believe it is very interesting and revealing of what is currently happening in Las Cruces Real Estate.
Invest In Las Cruces and Dona Ana County, New Mexico!
by: John L. Hummer
Las Cruces, Dona Ana County, New Mexico: For the first 10 months of 2010, annualized, the following is a quick diagnosis of the health of the local construction spending in our community.
New Single Family Home Permits:
# Permits Over/Under 2009: -5%
Value of Permits: + 29% or $44,237,400
New Commercial Building Permits:
# Permits Over / Under 2009: + 89%
Value of Permits: + 127% or $3,440,676
All Permits Combined:
This includes new residential / commercial structures, remodels, demolition, churches, barns, metal buildings, rock walls, storage structures, garages, carports, swimming pools, expansions
# Permits Over / Under 2009: + 1%
Value of Permits: + 30% or $70,628,441
We expect this growth to continue well into the future based on, but not limited to, the following key factors:
1. Growth of Ft. Bliss, TX (45 minutes to the south). Ft. Bliss is undergoing a $5 Billion expansion. Ft. Bliss has a shortage of 2,200 homes to house the 70,000 increase in soldiers and family members. Add another 30,000 population from the increase in service industry spinning off to support this growth. Las Cruces continues to be an attractive bedroom community to accommodate this growth.
2. Our Reputation. Las Cruces continues to grow based on its own merits as evidenced by the continued national recognition. A few examples of such are:
- Projected 2009 - 2001 Employment Growth: 5th in US. Strengths: low business costs, population growth, military/govt.employment.
- Milken 2010 Best Performing Cities: Ranking #8.
- Money Magazine 2010 Ranking: 14th Best County in the nation for job growth over the last 9 years.
- Where to Retire / AARP: Over the past decade, Las Cruces has consistently ranked in the top 10 of best places to retire.
3. City of the Future.
a. Spaceport America. The world's first purpose built commercial spaceport will open its launch pads and runways to the world in 2011. Virgin Galactic, Armadillo Aerospace and UP Aerospace are but a few of the burgeoning companies who have called our community home.
b. White Sands Missile Range, New Mexico State University's Physical Science Laboratory (PSL) and Arrowhead Research Park. These entities in concert with the Department of Defense, NASA, Honeywell, Raytheon and many others are leading efforts in the testing and design of unmanned aviation technology.
c. Alternative Energy. Dona Ana County is ground zero for the future growth of solar energy and biofuels. Sapphire Energy (biofuel) and Edison Solar are two new companies that speak to such growth.
d. Diversity, The Great Outdoors & The Arts. Las Cruces has to be one of the most tolerant, diverse communities in the nation. Its proud Spanish heritage combined with pioneering spirit of the Wild West has blended one of the most inviting communities.
Hiking, biking, horseback riding and nature trails are in abundance throughout our fertile Mesilla Valley or at the base of the majestic Organ Mountains. Our community also boasts outstanding and growing art, theatre, symphony and recreational activities.
Las Cruces, New Mexico is a vibrant city whose maximum potential is yet to be realized. Come grow with us!
