If you plan on selling your home in Albuquerque, one important question to ask is if your home is up to date or needs repairs.  A dated or worn down appearance can take away from the resale value.  However, the balance is that you want to avoid spending tons of money that won’t be recouped in the sale.  How do you decide what repairs or improvements are worth the investment? I f you come to the conclusion that your home needs improvements, then you need to pin down which ones will yield the highest returns.

Don’t fool yourself into thinking every improvement will increase the value of your home. Many projects will simply preserve the value, while others will help increase it.  So if you do those projects, the value won't be as adversely affected when you sell your home.

So to get down to it, what are the projects that get the highest ROI?

Outside Projects

Think about curb appeal. First impressions are lasting impressions as they say.  Basically any project that boosts curb appeal is worth the investment. Outside projects that can recoup the most money are garage door replacements, replacing a steel door entry, adding a wood deck, and siding and facade projects. Even if you just focus on the siding, it can improve the value of your home with minimal investment.

Kitchens and Baths

Potential buyers can spend the most time inspecting a kitchen and we all know why.  Many lives center around the kitchen and rely on its appliances. If your kitchen has the old yellow fridge and oven, they need to go. And don’t forget about the bathrooms.   They send a powerful message about your home, so you can expect a high ROI on a bathroom remodel.

The Little Things

Don’t have a lot of money to invest in a major remodel?  No problem. Focusing on the little things can also have a big impact on the resale value of your home. You can give your home a fresh coat of paint, trim trees and bushes, plant new bushes and landscaping. De-cluttering and cleaning your home only costs time. If you have an unfinished basement, you can put gray epoxy on the floor and paint the walls white. Never underestimate the power of improving the little things.

Every home is different, and so is every Albuquerque neighborhood. If you're not sure what improvements would be best to sell your home in Albuquerque, feel free to ask us. We know what sells a home in Albuquerque and what buyers are looking for.

HOT HOME LISTING OF THE WEEK!

5243 Foothills Trail NE, Albuquerque, NM  $798,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3156 Square Feet

Gated community of the Wilderness! Casual elegance abounds in this Scott Patrick Gold Package custom home. Tons of features include Oversized great room w/stacked stone fireplace, wall of windows! Gourmet kitchen has custom island, pantry, gas cooktop, custom cabinetry, Sub Zero fridge, Wolfe double oven. Private Master Suite on its own wing! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Everyone knows that the best time to sell anything is when demand is the highest for that item and the supply is low. If you plan on selling your home in Albuquerque, there’s great news.  Two major reports released by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to put your home on the market in Albuquerque.

Here is the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report that shows this.

REALTORS® CONFIDENCE INDEX

Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that home buying demand continued to outpace the supply of homes available in January.

The map below illustrates buyer demand broken down by state.  If you look at Arizona, you can see that buyer demand is strong in this state, which is great news is you plan on selling your home in Albuquerque

In addition to revealing a high demand for homes, the index also shows that compared to conditions in the same month last year, seller traffic conditions were strong in Arizona.

That shows that demand for housing continues to be strong, but supply is struggling to keep up, and this trend is likely to continue throughout 2018.

THE EXISTING HOME SALES REPORT

The most important data revealed in the report was not sales but was instead the inventory of homes for sale (supply). The report explained:

• Total housing inventory rose 4.1% from December to 1.52 million homes available for sale.
• Unsold inventory is 9.5% lower than a year ago, marking the 32nd consecutive month with year-over-year declines.
• This represents a 3.4-month supply at the current sales pace.

According to Lawrence Yun, Chief Economist at NAR:

“Another month of solid price gains underlines this ongoing trend of strong demand and weak supply. The underproduction of single-family homes over the last decade has played a predominant role in the current inventory crisis that is weighing on affordability.”

There’s a guideline that often applies in Albuquerque Real Estate; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Between 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.

As mentioned earlier, there is currently a 3.4-month supply, and houses are going under contract fast. The Existing Home Sales Report shows that 43% of properties were on the market for less than a month when sold.

In January, properties sold nationally were typically on the market for 42 days. As Yun notes, this will continue unless more listings come to the market.

“While the good news is that Realtors in most areas are saying buyer traffic is even stronger than the beginning of last year, sales failed to follow course and far lagged last January’s pace. It’s very clear that too many markets right now are becoming less affordable and desperately need more new listings to calm the speedy price growth.”

Inventory of homes for sale is still well below the 6-month supply needed for a normal market and supply will ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.

If you plan on selling your home in Albuquerque, now is the time.  You can find out what your home is worth in Albuquerque with our home valuation website ValueMyAlbuquerqueHome.com.  You can also follow us on Facebook for the latest real estate news in Albuquerque. And always feel free to call us at 505-980-2999 to speak with an experienced agent.

HOT HOME LISTING OF THE WEEK!

5243 Foothills Trail NE, Albuquerque, NM  $798,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3156 Square Feet

Gated community of the Wilderness! Casual elegance abounds in this Scott Patrick Gold Package custom home. Tons of features include Oversized great room w/stacked stone fireplace, wall of windows! Gourmet kitchen has custom island, pantry, gas cooktop, custom cabinetry, Sub Zero fridge, Wolfe double oven. Private Master Suite on its own wing! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Everyone knows that the best time to sell anything is when demand is high and supply is low.  The National Association of Realtors (NAR) just released two major reports showing that now continues to be an ideal to sell your home.

REALTORS® CONFIDENCE INDEX

Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” In May the index continued to show that demand for homes outpaced supply.

The map below illustrates buyer demand broken down by state (the darker your state, the stronger the demand is there). As you can in New Mexico, buyer traffic remains strong.

Takeaway: Demand for housing continues to be strong throughout 2017, but supply is struggling to keep up, and this trend is likely to continue into 2018.

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out searching for your house.

HOT HOME LISTING OF THE WEEK!

10 Caminito Trail, Placitas   $395,000

3 Bedrooms/ 2 Bathrooms/ 2580 Square Feet

This amazing culdesac property features unobstructed views of the mountains and open floorplans with stunning raised ceilings.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

When you sell your house, you obviously want the best price for your home with minimal hassles, and of course, actually getting your home sold. To do this, you should realize how important it is to use a real estate professional.

People are relying more and more on technology.  This has dramatically changed how people buy a home and their behavior during the buying process.  According to NAR, the percentage of people who use the internet to search for a home was 94% in 2016!

At the same time though, they brought out that 96% of home buyers who did use the internet also used a real estate professional to buy their home. On 2% bought homes directly from the seller, also known as  “For Sale by Owner” or FSBO.

Buyers tend to search for a home online first, but then use an agent during the buying process.  All this information on the internet now available has led people to work with agents who can help them connect the dots.  The amount of people using agents to buy a home has increased steadily since 2001.

So if you plan on selling your home in Albuquerque, then you need an agent who can help you connect the dots as well. The Sandi Pressley Team has the experience to help you bring the process together so that you can make the most money from your home and make the process go as smoothly as possible.

HOT HOME LISTING OF THE WEEK!

652 Gene Avenue NW, Albuquerque   $249,000

3 Bedrooms/ 1 Bathrooms/ 1780 Square Feet

Plenty of character and North Valley charm in this 3 bed 2 bath home with tons of space and large living areas.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are getting ready to sell your home in Albuquerque? If so, you already know there’s a lot of things to consider.  But there are some basic things to keep in mind to make sure you get more money from the sale of your home as well as sell it faster. Here’s a few things you can do right now.

Get Storage

Don’t think you can declutter your home by shoving things in the closets. Buyers will look in your closets and see a mess. Instead, rent a storage unit and store things that you won’t need when you home is on the market.

Depersonalize

One of the main goals of selling a home is to make the buyer see it as their home. That’s harder to do if your photos are all over the walls. The same goes with artwork.  You may appreciate the art, but the buyer might not.  Try to make the interior as neutral as possible in the way of personal affects.

Lighten Up

Light can make all the difference when it comes to making the home more appealing.  Get as high of a wattage bulb as your fixtures will safely allow.  And open the blinds and curtains.

Curb Appeal is Real

The first few seconds are critical when a buyer comes to your home.  They will almost always judge a book by its cover. So tidy up the yard.  Trim the hedges, put down new mulch, edge the lawn.  Hire a landscaper if you need to.  Freshen up the exterior paint. Powerwash the walkways and driveway.  Every little thing does matter.

If you follow these few steps, you'll almost certainly sell your home faster and make more money in the end.

HOT HOME LISTING OF THE WEEK!

11 Calle Cienega, Placitas, NM   $525,000

4 Bedrooms/ 3.5 Bathrooms/ 3384 Square Feet

An incredible Placitas Custom 4 bedroom home with unobstructed views and great room with raised ceilings and sculpted vigas!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are you looking to buy or sell Real Estate in 2017?  Choosing the Best Local Real Estate Team is critical to your success!

5 Reasons to choose the Sandi Pressley Team:

To receive a personal consultation for your home, contact the Sandi Pressley Team directly!

Looking for the perfect Albuquerque area home? Sign-up for our free Preferred Email Listing Alerts and receive only the properties that meet your personal qualifications! Follow this link: PREFERRED EMAIL LISTING ALERTS

HOT HOME LISTING OF THE WEEK!

4840 Mcnary Court NW, Albuquerque New Mexico   $239,000

5 Bedrooms/ 3 Bathrooms/ 2420 Square Feet

Ready to Close-Show and Sell! Meticulously maintained open concept quiet culdesac lot showcasing 5 BDRMS/3BATHS/2 car garage. This functional floorplan features stunning oak wood flooring in living, dining room & spacious kitchen. Kitchen overlooks family room offering a cozy fireplace. Rare find private in-law Suite on Main floor and other Master Suite on Upper level with oversized master bath; dual vanities, jetted tub, separate shower & walk-in closet + access to balcony to enjoy the beautiful views. Additional Amenities incl: Refrigerated Air, arch accents, hi ceilings, plant ledges bull-nose corners thru-out and so much more-Pride of Ownership! Lovely low maintenance landscaping both front and back-Perfect for summer BBQ's!NO PID! It is a MUST SEE!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

In today’s Market in Albuquerque, some homeowners might be thinking about selling their home on their own.  This is known as For Sale by Owner (FSBO).  But there are a number of reasons why this may not be the best idea is you’re planning on selling your home in Albuquerque.

Here are 4 reasons why:

Buyer Exposure

It’s a fact that 94% of buyers search online for a home.  That’s compared to only 17% looking at the newspaper ads. Most real estate agents in Albuquerque have a marketing strategy that involves online marketing. Do you?

The Internet Gets Results

51% of home buyers find their home on the internet.  34% found it from a real estate agent.  A mere 9% found it from a yard sign.  Just putting up a sign in the front yard doesn’t work anymore.  A strong internet marketing strategy is essential.

Too Many People to Deal With

Most FSBO home sellers don’t realize at first all the people they have to deal with.  You have the buyer, the buyer’s agent, the buyer’s attorney, home inspectors, and appraisers. That can be overwhelming if you don’t have experience in selling a home.

FSBOs Have Become More Difficult

There’s far more paperwork involved in buying and selling a home than there used to be.  That’s why the percentage of people selling by FSBO has dropped from 19% to 8% over the last 20 or so years.

So before you take on the challenge of selling your home by yourself, give us a call and let us help you decide if an experienced Albuquerque real estate agent can help you sell your home.

HOT PROPERTY OF THE WEEK!

4 Cinco Circle, Placitas, NM 87043  $399,000

3 Bedrooms/ 3 Bathrooms/ 2740 Square Feet

Gorgeous single story custom home on private 2 acre sanctuary.

Learn more by contacting the Sandi Pressley Team

Get your Morning Inspiration with the Sandi Pressley Team!

Are you selling your Albuquerque home this holiday season?

If so, make the most of the holiday spirit...but don't overdo it!  Here are 7 Tips for Staging your Home for successful Holiday sales:

Clean & De-Clutter. Holiday decorating can be fun and a delightful way to showcase your home. However, it is very important to clear your home of other decorating and clutter before beginning.

Complement your Color Palette. Before hanging those Christmas decorations and tinsel, make sure you are complementing the color palette of your home. Nostalgic decorations are always a must, but if they clash with the color in each or your rooms, you'll do yourself a disservice by decorating at all. 

A Charming Cozy Vibe is a great Seller!  Creating the right vibe for your holiday home is very important. Use local artifacts to create a cozy vibe that is also charming. Keep in mind the overall decorating of your home and keep consistent.

Go Easy on the Christmas Lights! Stay away from a Clark Griswold looking home...meaning No inflatable snowman and Christmas Lights that complement your home. Many home sellers make the mistake of putting up so many lights and other Christmas outdoor decorations that it makes their home look like something out of the movie! Instead, choose a solid color, simple strand of lighting that plays up your home's architectural style.

Be mindful of your Christmas Tree. Historically, Christmas Trees have always made a home full of holiday spirit, while creating a warm vibe. However, allowing your tree to drop needles all over the floor...or forgetting to water it so it looks like it's going to fall over, will create the opposite affect you're trying to create.

Keep Neutrality throughout. It's important to decorate in a way to attract all types of buyers. This may mean keeping the large, yard Navitity Scene in storage til next year. No matter what someone's religious preferences are, they aren't going to be offended by a Nutcracker.

For more Home Selling Tips visit our website or give the Sandi Pressley Team a call for a personal consultation!

Reference: HGtV.com  Photo Credit: Brian Patrick Flynn Story By:  Kara Wahlgren

6412 Baker Avenue NE, Albuquerque, New Mexico  $275,000!

3 Bedrooms/ 2 Baths/ 2,415 Square Feet

This home is a Slice of Paradise in NE Heights showcasing spacious & functional floorplan w/2 living areas offering a stunning floor to ceiling stone fireplace creating a tranquil ambiance.  Learn more about this stunning home by calling the Sandi Pressley Team!

Get your Monday Morning Inspiration with the Sandi Pressley Team!

It's a phenomenal time to sell your Albuquerque home!  If you've decided to sell, make sure you've prepared your home for the market before advertising. You get one shot at making a great first impression and introducing your home to the market...so make it count!

Many home buyers today want to move-in their new home as quickly as possible. Making sure you've crossed all the 'T's and dotted all the 'I's will insure your home sells quickly and for top dollar.

Here are 6 great tips to get your home prepared:

1. Get a Home Inspection.  Why you ask? By being proactive and ordering your Home Inspection upfront, you'll be notified of any potential troubles that could make your potential buyers balk. You'll still need to disclose what the home inspection finds, but you'll have time to make repairs. 

2. Gather all your Warranties for items staying in the home. This gives your potential home buyers confidence in you and your home. Warranties should include any appliances, etc that will be part of your home sale.

3. Make all Minor Repairs! It's critical to walk through your home with an eye for detail. Each room should be evaluated for any minor fixes; including patching of holes or cracks, painting, floor replacement, windows, closets, outlets and more. Once you've identified all repairs to be made in each room, make the ones you can...and be ready to negotiate the others.

4. Clear out Clutter. You've probably heard this a dozen times or more, but it bears repeating. A cluttered home shows poorly and commands a lower selling point. 

5. Sparkle and Shine. Make sure you do a 'white glove' cleaning of every aspect of your home!  Remove all signs of pets, including deodorizing your home. 

6. Stage your Home to Sell! If you haven't thought of Home Staging, you may want to consider this service. Home Stagers are experts at presenting your home's best assets and hiding those that are not. They also create the best light and flow to showcase your home. 

For more Home Selling Tips, visit our website or give us a call for a personal evaluation.

HOT PROPERTY OF THE WEEK!

3813 Tierra Vista Place NE, Rio Rancho, NM  $359,000!

4 Bedrooms/ 3 1/2 Baths/ 3420 Square Feet

Welcome to this Meticulously Maintained Home delivering 3400+ sqft of optimal living.

Contact the Sandi Pressley Team for more details!

Get your Monday Morning Inspiration with the Sandi Pressley Team!