Real Estate Information Archive

Albuquerque home sellers often overlook pre-listing home inspections, which are crucial to the real estate transaction.

An inspection of a property before it is listed provides sellers with a clear understanding of its condition. Before putting the home on the market, the seller can fix any issues or set the right asking price.

Pre-listing home inspections can help expedite the transaction process and reduce the chance of surprises that may arise from the inspection. Some of the benefits are as follows:

Uncover Any Issues

Sellers will be able to clearly understand any problems in their home by having their home inspected prior to listing the property. Before putting your home on the market or presenting to potential buyers, the inspector will inform you of issues that you can address and fix. As a result, you will save both time and money.

Save Money

It usually costs the same as a standard home inspection to conduct a pre-listing inspection. Inspections can be extremely valuable. The pre-listing inspection warns you of potential problems well in advance of the listing, whereas a buyer's inspection only gives you a few days to resolve them. In this way, you can compare the cost of repairs and negotiate prices without feeling rushed.

A full disclosure upfront will be appreciated by buyers, as will any repairs made. As a result, the risk of buyers returning and asking for more off the sale price is reduced.

Boost Marketability

Transparency is a key factor in home selling. In addition to disclosing information to the potential buyers, a pre-listing inspection will enhance the level of trust between you and buyer. By making the information readily available, you are able to get your home sold more quickly and make your home more attractive to buyers.

Clearly reflecting the state of the home and providing suggestions for resolving any issues that are found is the goal of a professional home inspection. By leveraging the knowledge and experience of professionals, it is ensured that important issues are not neglected, reports are received efficiently and sellers are able to move through the real estate process quickly.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

In the process of buying or selling a home in Albuquerque, a real estate attorney may or may not be necessary, but how do you know?

If you are able to understand their role and what they do, you can determine if they are the right person for your team.

What Do Real Estate Lawyers Do?

What are the general duties of a real estate lawyer? Obviously, they handle transactions related to real estate, but what does that entail?

The attorney may review any contracts or other agreements you had with the seller related to the purchase, including your contract. Your lender documents, your title and transfer documents can also be reviewed by a real estate attorney.

An attorney might be present at the closing in some circumstances.

Both the buyer and the seller can benefit from legal advice from a real estate attorney.

A mortgage lender can also be represented by an attorney.

How Do You Know When to Hire an Attorney?

A home closing is considered a practice of law in some states, so an attorney must be present. This is not the case in New Mexico.

Here are some reasons why you might want to hire an attorney:

• In situations where a contract is unusual in any way, having an attorney at least look things over might prove beneficial. A lawyer is almost always beneficial in complicated situations.
• Having an attorney on your side can bring you peace of mind. It can help you feel more confident, and you can make sure all of your bases are covered.
• Buying a home in a special sale might require the assistance of a lawyer. An example is a short sale, a bank purchase, an auction, or an estate sale.
• If you're purchasing a home in a different state, an attorney might prove useful.
• Your family member owned a home you are selling, and you are the executor.
• If there are several severe issues with your house or if there is damage to the structure, you might need an attorney.
• You are trying to sell your property despite having liens against it.
• There is a divorce settlement attached to the sale of your home.

What Is The Cost Of Hiring a Real Estate Attorney?

A real estate attorney's fee will vary greatly depending on what services they're providing and who's paying for that portion of the closing costs.

In some cases, attorneys will charge a flat fee that will include certain services, and in others, they will charge by the hour.

You don’t necessarily need an attorney to buy a home in Albuquerque. It can be beneficial, however, to have someone review your contracts during this time if you can afford it.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

Are you thinking about upgrading your lifestyle in Albuquerque, but also want a great value? If so, take a look at our latest homes for sale! These gems are certain to sell fast, so make sure you schedule a showing today.

Feel free to contact Sandi Pressley and her team at 505-263-2173 to get more information and schedule a viewing of these fine homes. You can also check out all of our listings on our Featured Listings page.

3316 19TH Avenue SE, Rio Rancho, NM 87124

AMAZING REMODEL! Sandia mountain VIEWS! BACKYARD ACCESS! Incredibly updated 3BDR/2BA/1CG in the heart of Rio Rancho! New luxury vinyl plank flooring! New lighting! New windows! Newly painted interior & exterior! NEW SEPTIC TANK IN 2019! Huge great room with stacked stone fireplace, patio access and free flowing & open to the beautifully remodeled kitchen with new soft close cabinets & drawers, new granite countertops & sunny breakfast nook! Awesome flex room/game room PLUS separate office/study! Gorgeous remodeled baths with new vanities featuring dryer station, new flooring, commodes & lighting. Master suite bath features a new dual sink vanity, flooring & barn door! Close to Intel, Presbyterian Rust Hospital, Cottonwood Mall, parks, schools, shopping, restaurants!

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624 3RD Street NE, Rio Rancho, NM 87124

Come see this semi-custom Wallen Home with the most INCREDIBLE views!! Set on a 1/2 acre, these may be some of the best views in Rio Rancho. Relax outdoors and listen to your beautiful, oversized water feature, or just listen to the wind blow through the trees. Enjoy the open floorplan with eat-in kitchen and gas appliances. All bedrooms have NEW carpet, and master bedroom is an oversized comfort zone. Master bath features dual sinks, a gorgeous walk-in shower and separate garden tub, plus great walk-in closet. In addition, there's a great office with plenty of space. Plus, bring your toys! Garage has room for 3 cars with a tandem space, and there is side-yard access that can lead to the backyard for your camping toys. Schedule your showing today!

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2104 BEULAH Drive SE, Albuquerque, NM 87123

This luxurious home has a fantastic layout perfect for entertaining. Beautiful crystal chandelier as you walk in the door speaks elegance. The kitchen has plenty of cabinet space, SS appliances with w/a double oven (2020) and NEW granite countertops (2021) along with a walk-in pantry. This fabulous floorplan has 3 Master bedrooms, 1 downstairs, 2 upstairs w/2 nice sized bedrooms upstairs and if that wasn't enough, a 1 bd | 1 ba | 229sf CASITA that leads to the patio & backyard. Please see attachment (features & upgrades). This home is sure to please multi-family living! Note: Casita is included in bds/ba & overall sf.

Learn More!

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

A pool might sound like a great idea if you're searching for a new home in Albuquerque. Keeping cool is important in this climate since it gets hot. Pools are extremely popular right now, so popular that there are waiting lists for pool contractors and a shortage of maintenance items like chlorine.

Does pool ownership live up to its hype? The answer is yes, but you need to prepare.

The Pros of a Pool

Can Improve Your Quality of Life

Owning a pool can make your life more enjoyable, and it can also enhance your lifestyle. It can also be used for exercising or getting out for fresh air and vitamin D.

Having a pool can enhance your social life in the sense that many families with them enjoy spending time together.

A Pool Can be Beautiful

The aesthetics of a pool might be a factor in your decision to buy a home with one. It's great to look out at your pool or see the water from your deck. Many people find relaxation in the sight of water in any form, including in a pool.

Pools Can Increase Your Home’s Value

Pools can add value to a home in many instances. In warm climates like ours, this is especially important. In places like New Mexico, swimming pools are pretty much considered to be necessities.

In the case that you ever want to sell your home and your neighbors don't, your property might be in higher demand or fetch a higher price than a home without a pool.

The Cons of a Pool

Cleaning and Maintenance

It's true that some people prefer to clean and maintain their pools, but if you aren't one of them, think twice about buying a house with one. You may need to spend several hours a week maintaining your pool if you do it yourself.

If you hire an individual or company to maintain your pool, expect to spend $50 to $150 per week.

You also have to pay for the supplies required to clean and maintain a pool.

Safety

Buying a home with a pool means checking for safety codes and complying with existing regulations. An alarm system or fence may need to be installed.

If you have small children or pets, consider how an in-ground pool will affect your family's safety.

Insurance Costs

A pool is usually covered as part of "other structures" in a homeowner's policy. In any case, you may be responsible for injuries caused by your pool. This is why some insurance policies refer to pools as an "attractive nuisance.". It will cost you more to insure, since you'll need liability coverage.

Not Always Be a Good Thing for Resale

Pools are not always viewed as pluses by buyers, so you need to consider that as well. You could end up limiting your options if you wanted to sell your house.

Last but not least, if you're buying an existing home, what is the condition of the pool? Is there a possibility that you may need to make major repairs or upgrades when you move in?

Choosing whether or not to purchase a pool is a personal decision that should be made strategically and not emotionally.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

Would you like to learn how to increase the value of your house for sale in Albuquerque? You can increase the value of your home by up to 15% by improving your landscaping. For a $300,000 home, that means about $45,000.

A small improvement can have a big impact. You should aim to spend between 5% and 10% of the value of your home. You can save even more if you do the work yourself or enlist the help of family and friends.

Here are four landscaping ideas that can increase the value of your home in Albuquerque.

Clean It Up

What does your yard look like? Keeping the grass mowed and removing dead trees and bushes is a simple way to improve the appearance of your property. You can then replace them with low-maintenance plants. 

You should also trim overgrown trees and shrubs, and remove low branches. Replace rusted metal edging where your grass meets your rock or mulch if it is old and rusted.

Keep It Low Maintenance

Here are some ideas to create a low-maintenance yard if you don't have all day to work on it.

• Plant perennial flowers that will return every year.
• Install a sprinkler system or automated soaker hoses.
• Cover more areas with pavers or hardscape to cut down on mowing time.
• Avoid messy trees that leaves, needles, and berries. Consider arborvitae trees that can grow up to 50 feet tall, need little pruning, and stay green year-round.

Grow a Privacy Fence

Are you able to see your neighbor's backyard? Trees or shrubs can be planted to block their view as well as yours. Go with plants and trees that are native to the Albuquqerque area, such as Mimosa, Desert Willow, Smoketree, Big Sage, Fourwing Saltbush, Butterfly Bush and many others.

Try to plant various types of shrubs or trees so that if one gets a disease, they don't all get it and die. When you stagger these different plants, it creates an attractive look that home buyers will love.

Bring Your Indoors Outside

Your backyard is a great place to relax with your family and friends during the summer. With the right budget and space, a gazebo is an excellent addition to any landscape. You might as well add an outdoor kitchen equipped with a built-in grill, a refrigerator, and a TV if you really want to go all out. Soft cushions, outdoor carpet, and throw pillows will complete your lovely gazebo.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

Is your family growing and you need some extra room? If you're looking to expand your living area, you can't beat these two outstanding values. One of these homes offers 7 bedrooms and 3566 sq ft of room! Check out these great properties while can!

Feel free to contact Sandi Pressley and her team at 505-263-2173 to get more information and schedule a viewing of these fine homes. You can also check out all of our listings on our Featured Listings page.

7321 THUNDERBIRD Court NW, Albuquerque, NM 87121

$275,000

Cul-De-Sac! Private gated entrance! Beautiful shade tree at the front entry! 7 BDR/3BA! Two master bedrooms on main level! THREE living areas with living/dining and separate family room with wood burning fireplace plus a huge den. 7 bdrs with closets, 4 on the main level and 3 bdr upstairs plus an office/study/flex room on the main. Kitchen is open to the family room with breakfast bar and pantry. Approx .25 acre lot located on a cul-de-sac, extended covered patio, large backyard, two storage sheds, walled for privacy and lots of outdoor entertaining space. Close to schools, shopping, restaurants, easy access to 1-40 and Coors!

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4621 CONGRESS Avenue NW, Albuquerque, NM 87114

$325,000

Excellent location in Knolls of Paradise Hills! Close to shopping, restaurants, parks, Cottonwood Mall, Presbyterian Rust Hospital and easy access across town or downtown! 4BDR/2BA/2CG! Private front courtyard! Huge great room with cove ceiling and fireplace! Skylights! Master suite on its own wing! New water heater (2020) Kitchen features breakfast nook with beautiful bay windows overlooking the backyard. Master suite features jetted tub, large shower, dual sink vanity, two walk-in closets & tile floor. Large secondary bedrooms and full bath on a separate wing. Outdoor living features a covered patio, entertaining space for summer BBQs, raised garden space for flowers & herb pots and mature trees and shrubs!

Learn More!

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

Purchase of a home in Albuquerque can be intimidating for many young or first-time buyers. Homebuyers aged 25 to 40 may be unsure about the homebuying process and what they can afford, according to a recent survey. The study found:

• “1 in 4 underestimated their buying potential by $150k or more”
• “1 in 4 underestimated the increase in value by $100k or more”
• “47% don’t know what a good interest rate is”

Most young homebuyers have given up on their search because they feel uncertain, or worse, they have decided homebuying isn't right for them and don't even start a search.

If you want to buy a home but aren't sure where to start, here are three things you should know about homeownership.

1. Down Payments

It's not necessary to have a large down payment to qualify to buy a home, but that's how many people view it. According to Freddie Mac:

“The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”

Those looking to buy between July 2019 and June 2020 only had to make an average down payment of 12%, according to the National Association of Realtors (NAR) Generational Trends Report. The median down payment for buyers ages 22 to 30 was only 6% when controlling for age.

2. You May Be Able To Afford More Home Than You Think

Spending more time in our homes as a result of working from home, exercising, and spending more time on leisure has changed what people expect from their living spaces. Some young homebuyers are unable to afford homes that will meet their growing needs, so they choose to continue renting. As a result, they'll miss out on some of the benefits of home ownership in the long run. A recent NAR article points out:

“Many young adults are underestimating how much they need for homeownership, the survey finds. Millennials underestimated how much home they can afford right now, how much interest they would pay over a 30-year mortgage, and how much home values appreciate, on average, over 10 years…”

When you are starting the home buying process, knowing how much to spend on a home is critical and could be a game-changer.

3. Don't Wait

In addition, with mortgage rates on the rise along with home prices appreciating, you may end up paying much more for putting off buying a house now. According to Sam Khater, Chief Economist at Freddie Mac:

“As the economy progresses and inflation remains elevated, we expect that rates will continually rise in the second half of the year.”

Experts predict that interest rates will rise in the months ahead, and even a small increase can affect your purchasing power. There's no better time to buy a home if you've been on the fence.

When you begin your home search, you may feel overwhelmed. You're not alone. We can help. Contact the Sandi Pressley team today to see how you can make your goal of owning a home a reality.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

Are you in the market for a luxury Albuquerque home that offers the very height of custom distinction? A full array of luxury features await you in each of these unique and amazing estates. Please contact us for an exclusive showing since there are too many great features to list here.

Feel free to contact Sandi Pressley and her team at 505-263-2173 to get more information and schedule a viewing of these fine homes. You can also check out all of our listings on our Featured Listings page.

10200 Corona Avenue NE, Albuquerque, NM 87122

$1,899,000

Heaven in North ABQ Acres! Spectacular Custom Built home, designed by Eric Spurlock. Enter through private courtyard. The flowing floorplan offers soaring herring bone beamed ceilings and expansive great room makes this a wonderful home for entertaining. Chef's kitchen offers all Viking Appliances, island with gas cooktop, opens to a Morning room with Kiva Fireplace, sitting area and a breakfast nook. Also opens to an outdoor patio. Formal dinning room, with entrance to private Wine tasting room, temperature controlled, space for 100s of bottles w/racks and wine storage. Seating for conversation. Owner's suite on main level offers tray ceilings, sitting area, access to outside patio.

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13516 DEER TRAIL Place NE, Albuquerque, NM 87111

$875,000

Perfectly situated with 180 degree views in Glenwood Hills. The frosted glass accented front door greets you and beyond is a wide, open floorplan, with tons of natural light, gas fireplace and wet bar making this home perfect for entertaining. Main level boasts a master suite, 2 spacious bedrooms, formal dining and well-appointed kitchen with breakfast nook and access to one of many patios. Upstairs is another master suite with jetted tub and double sinks, privatebalcony and a fantastic walk-in closet. The garden level is open to the patios and is perfect for rec room/office/gym. Want city AND mountain views this uniqueproperty offers panoramic, breathtaking city views with Mount Taylor in the distance! Hiking, biking and walking trails are just minutes away!

Learn More!

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

The average time to sell a home is 25 days. This is significantly better than how things were back in 2010 when the average time it took to sell a house was 140 days. However, this is not fast, and your home is not guaranteed to sell in 25 days. There are a number of factors that determine how quickly you can sell your home, such as location, season, and others.

If you want to sell your home in Albuquerque quickly, what do you do? You may have seen those "we buy houses for cash" signs. Are you able to sell your home in a few days without doing any repairs, or even cleaning it up for walkthroughs by buyers? 

If it sounds too good to be true, perhaps it is.

Let’s see what’s going on with these home buyers.

Who Are They?

Buyers who offer to buy homes for cash are not the typical buyer. Their purpose isn't to live in or find a rental property. Their aim is to earn a quick profit by investing in properties. 

The objective of such home buyers is to buy a house for the cheapest possible price, fix it up, and resell it soon after. In just a few months, they often make a large profit. 

Who Do They Target?

In order to accomplish this, they specifically target motivated and desperate sellers. Have you tried listing your home for sale and the listing expired without a sale? A cash buyer probably contacted you soon after. When you fail on the open market, you may have no choice but to sell your house for cash at a rock bottom price.

It is possible that your home did not do well on the market for any number of reasons. You can ask a knowledgeable agent what changes to make for your next attempt. A good agent will always provide you with a better return than a cash buyer.

In the same vein, cash buyers go after people in situations that require a fast sale. A few examples include:

• Divorcing sellers
• Bankruptcy
• Foreclosure
• Employment change
• Probate sales

Often these buyers are called "opportunity investors". Their goal is to earn some serious cash. Opportunities are often found in other people's misfortune.

Benefits

The fact that they can sell their home quickly, however, may seem like a blessing to some people in these situations. A fast sale would take care of their problem of not getting enough return on their investment.

Cash buyers are also quick to close. 

It typically takes about 30 days to close a financed purchase. In most cases, it's the lender who drags out the process by requiring appraisals and other paperwork and procedures before approving the funds release.

This is not an issue for cash buyers. It's quite common for them to visit your home within two days after you contact them. You may receive an offer on the spot or within the next few days. Most of the time, titles are cleared by a title company that they have on-hand. 

Also, a home inspection can slow down the transaction. Usually, buyers request them before closing the sale, and may even request repairs to be made.

This is not what cash buyers do. As a rule, they buy the house "as is" and do the repairs later.

You will hand over the keys in only a few days, and the house will be sold.

Negatives

This sounds really good, doesn't it? Where's the catch?

Your profits and equity will most likely disappear. A cash buyer's offer is often just enough to pay off your mortgage. Generally, you will only receive 50-80% of the market value. 

To save on the hassle of conventional marketing, 80% of the market value might seem attractive. Yet the average is about 65% of the market value. Alternatives exist, as well, such as iBuyers such as Opendoor, which offer a more convenient and speedy buying process.

These types of companies should also be treated with extreme caution. They are scammers in some cases. Buying a home, but not paying for the mortgage, is a common scheme. There have been a number of instances where sellers who no longer owned the property found themselves still responsible for paying the mortgage.

Make sure you do your research before selling your home to a cash buyer. Selling a property to get rid of it is not the only option. Alternatives are available that are more lucrative.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

4704 SILVER HAIR Road NW, Albuquerque, NM 87114   $325,000

3 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2370 Square Feet

**Updated & Meticulously Maintained** This beautiful home with an open & light filled floorplan offers two living areas for both formal & informal gatherings; Updated/remodeled kitchen appointed w/gorgeous granite cntrs; glass/stone backsplash; SS appliances; & sunny breakfast nook. Master retreat features view balcony w/composite decking; updated spa like en suite; & huge walk-in closet! Two additional bedrooms upstairs + updated full bath! Fourth bedroom/study & updated 3/4 guest bath on main level. Interior professionally painted May 2021; Upgraded Evap cooler; Extra large 2 car garage w/storage cabinets/shelves. Relax out back in the hot tub that will convey; covered & open patio areas; shrubs, flowers, trees. Close to shopping, the bosque, & schools. See Seller's Feature page for more!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Have you heard about Opendoor? If you plan to sell your home in Albuquerque, perhaps this company has crossed your path. Opendoor is capitalizing on the popularity of iBuyer technology. The term iBuyer refers to an instant buyer. IBuyers theoretically make the process of selling a home easier, faster, and sometimes cheaper.

What Is an iBuyer?

As was touched on, Opendoor is characterized as an iBuyer. Using technology, iBuyer companies offer instant offers on properties. Data and advanced algorithms are used by an iBuyer company to estimate the value of a property. Based on that information, they make an offer.

Traditionally, sellers do not have to market and sell their homes. iBuyer then takes ownership of the home, makes any necessary repairs or changes, markets it, and eventually sells it on.

Occasionally, the terms iBuyer and flipper are used interchangeably, but there often appears to be differences between the models. Flippers typically buy foreclosure homes or homes near foreclosure that need extensive renovations. The work will be done and then sold for a profit.

IBuyers tend to search for homes in good condition, and they'll likely pay fair market value. Repairs might be made, but most renovations are minor.

Where do they make their money?

Opendoor is a fee-based service. The iBuyers try to charge a commission fee that is comparable to that of a real estate agent. Fees are based on the time required to sell a property.

What Is Opendoor Specifically?

Opendoor is one of the largest iBuyers at the moment. A lot of credit goes to them for starting iBuying. Opendoor charges its customers a service fee.

When someone submits an offer request, Opendoor will provide the seller with all-cash offers within 24 hours. After entering your address, you can choose the features of your home and any upgrades you've made. After you accept the offer from Opendoor, they'll send a team out to conduct a walkthrough.

They deduct the costs of repairs if they believe they are necessary. You only need to choose a closing date if you agree to the offer and terms.

What Are the Pros of Opendoor?

There are definitely some upsides to Opendoor. To begin with, it is simple. That’s the biggest benefit. Traditional methods of selling a house can be time-consuming and frustrating. An inspection, closing, and selling a house can take months. It is really possible to get an offer within 24 hours on Opendoor, and they also pay for the inspection.

What Are the Cons of Opendoor?

Opendoor has its downsides, as with anything.

First of all, it helps if you have some idea about the local Albuquerque real estate market. Selling a home requires you to make smart decisions that lead to a competitive offer from Opendoor. You might be better off working with a realtor in the traditional sense if you do not have this knowledge and experience.

It's also possible that you won't make as much money selling your home as you would if you sold it traditionally, especially if you live in a seller's market right now.

Also, Opendoor charges at least 7.5% for using the service, which is more than the usual commission paid to real estate agents. There is also a disclaimer that they could charge as much as 14%, whereas real estate agents usually charge just 6%. Fees are determined by how long it takes to sell your home, its features, as well as comparable homes in your area.

Furthermore, Opendoor determines the cost of any repairs based on its own inspection. You can negotiate repair costs if you sell your home conventionally.

Opendoor and other platforms like it may seem as if they're the future of real estate, but it's more likely to be a component of it. But working with a real estate agent will also remain a popular choice for buyers and sellers.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

2625 HALCON Place SW, Albuquerque, NM 87105   $400,000

3 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2797 Square Feet

Country living in the South Valley at its best! Covered sun porch & front entry with rose bushes! BACKYARD ACCESS with electric gate. Metal Roof! 3BDR/3BATH featuring a beautiful ADDITION in 2010 for kitchen, sitting room & master suite! Oversized kitchen features beautiful cabinetry, granite countertops, huge pantry & tile flooring! Master suite features his/her vanities, large walk in closet, jetted tub, sep shower, skylights, gas fireplace! Detached 2Car garage with pit, crane, sink & storage; horse barn & shop w/electricity & chicken coop! Gorgeous yard to entertain family & friends! Fruit trees, grapes, grass, shrubs & covered patio!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team