Albuquerque and the rest of New Mexico escaped the worst of the speculative feeding frenzy that drove up prices and spurred overbuilding in many southwestern towns. Most of Albuquerque's mortgage problems were driven by economic setbacks and poorly underwritten loans.
When this house sold in a foreclosure auction back in September, the owner owed more than $171,000 on the mortgage. The house is now being resold for less than half that.
It's being delivered clean, with fresh paint and new carpet. The house features an open floor plan, a master suite and good-sized bedrooms.
For further information: Trulia
