I live in Albuquerque, and work in Santa Fe. I can see the snow packed Ski Santa Fe peak from my office - great mountain. Sandia Peak got the most snow in a decade this year, so it has been fun. Taos, Angel Fire, and Red River are within 3 - 3 1/2 hours of driving. Pajarito is another local mountain close to Santa Fe that most people forget about. It's pretty decent sized, and steep.
I think Albuquerque has the best weather, since we get a taste of all four seasons. Winters are moderately cold, but the town doesn't get too much snow itself. However, if you are into winter sports, Sandia Peak is only 20 minutes from town. There's lots of good fishing throughout the year as well. The housing market depends on the side of town you want to live in. The NE Heights ( closer to mountain ) is more expensive than the west side, which is a new subdivision with newly constructed houses etc. Traffic is hardly ever a problem, unless you are travelling to the west side during rush hour traffic.
We do have a decent downtown ( could always use more nightclubs ). You will find a lot of clubs playing salsa, other latin music here. Hip/hop and reggae as well. Electronic music scene is finally starting to pick up here, and hopefully keeps improving.
The population of Albuquerque is 45 % hispanic, 40% white and so on, but you will never feel out of place anywhere, since most people here are very accepting, friendly and tolerant. There's always arts and crafts festivals, and food fairs going on here. We like our chile! I never want to move away from here. It's awesome. Midsized city, with lots of outdoor stuff. Most of the town has bike lanes, and you can golf pretty much throughout the year.