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Pros & Cons of Refinancing Your Mortgage for Your Albuquerque Home

by Sandi Pressley

Refinancing a mortgage is something that many homeowners in Albuquerque do at some point. There are a wide range of reasons why a homeowner would want to refinance their mortgage. Yet along with the benefits of refinancing come some risks and costs. The question you need to ask is, if in your case, do the benefits outweigh those risks. Here's a list of pros and cons of refinancing to help you decide if it's the right decision for you.

Refinancing Pros

Free Up Money

If you replace your mortgage with a rate-and-term refinance at a lower rate, you will pay less each month. You could save anywhere from $75 to several hundred dollars a month.

Pay Off Your Home Faster

A loan with a lower interest rate and shorter term means you can pay your home off faster, especially if you go from a 30-year loan to a 15-year loan. The down side of this is you may pay more per month, meaning you'll have less cash on hand.

Get Cash

Albuquerque homeowners who want to get money for remodeling or other important matters can get what's called a cash-out refinance. This is a loan that let's homeowners with at least 20% equity in their home refinance for a larger amount and get the difference in cash.

Lock in a Fixed Rate

If you have a loan with an adjustable rate and you want to lock it into a lower rate so that it doesn't rise, you can get a fixed-rate loan. The rate may be higher than what you have now, but it will not rise in the future, giving you more financial predictability.

Refinancing Cons

It Costs Money

Remember the fees you paid on your original mortgage? You will have tp pay them again for a refinance. This includes origination fees, an appraisal, title insurance, taxes and other fees. If you are refinancing to save monthly costs, you should calculate how long it will take to make up the difference between your monthly savings and the refinance costs.

Prepayment Penalty

You may have to pay your current lender extra to pay off the loan early. If that amount is too high, you might want to just stick with your current loan.

Total Costs Can Increase

The interest and fees over the life of a new 30-year loan can increase. This could also offset the advantage of refinancing.

Make sure to 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. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Contact us today to help you buy or sell your next home in Albuquerque.

HOT HOME LISTING OF THE WEEK!

1820 34TH Street SE, Rio Rancho, NM 87124  $169,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1348 Square Feet

One story 3BDR/2BA/2CG in the heart of Rio Rancho! Minutes from Intel, Cottonwood Mall, schools, parks and shopping! HUGE BACKYARD with views of the Sandia Mountains!! Tile flooring throughout!! NEW Water Heater! Oversized great room with cozy wood stove, open to the kitchen with lots of cabinets, long breakfast bar, gas stove & refrigerator. Master bdr features a walk in closet and private bath. Fenced backyard with open patio, mountain views and plenty of room for gathering family & friends!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

 

Albuquerque is more walkable than the average New Mexico city. It received a walk score of 43. It has a public transit score of 30. Where it shines is its bike friendliness. It has a bike score of 60, well above the national average of 50.This is aside from the many bike trails in the Sandia Hills.

The abundant outdoor recreational opportunities and service providers make it a great place to live, though it isn’t so popular that it is overloaded with tourists.

Top Reasons to Buy a Home in Albuquerque

by Sandi Pressley

When you consider all the great things Albuquerque has going for it - the climate, history, arts, culture, and beautiful architecture - it's easy to see why people choose to buy a home here. Yet there are even more reasons to buy a home in this great city than meets the eye. Let's dig a little deeper and look at some other reasons to buy your next home in Albuquerque.

Affordable Real Estate

The median home value of homes in Albuquerque is $240,000. This may be slightly higher than the rest of the nation, but still much more affordable than homes in Las Vegas or Southern California. Homes for sale in Albuquerque definitely give you far more bang for the buck compared to these other markets. 

A Balanced Market

Albuquerque has a balanced real estate market, meaning that there's about the same amount of buyers as there are sellers. So that means that even though home values are gradually rising (another great reason to buy now), it's not out of control. 

Stable Job Market

There is a stable level of employment in Albuquerque due to state and federal level jobs. Sandia Laboratories is a high paying employer in the area, and there are also plenty of jobs in the healthcare and education fields.

Livability

Albuquerque has a walk score of 43 and a transit score of 30, which is quite good and higher than the average city in New Mexico. It's also a great city for bike riders, being a very bike friendly city, along with the many bike trials in the Sandia Hills. There's plenty of things to do outdoors, with a vast array of recreational choices. And the best part is that despite being such a beautiful place to live, it's not overflowing with tourists.

More Renters

If you plan to buy an investment home to rent out, you won't have any problem finding good renters, as there is a large military presence here. Those serving in the military are more likely to rent than to buy, and the average rent is around $1300, so you will get a nice flow of cash for your investment.

When you add it all up, Albuquerque stands out as one of the best cities in America to buy a home. If you're in the market for a home in Albuquerque, talk to one of our experienced agents today to help you find the perfect home for sale in Albuquerque today.

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

HOT HOME LISTING OF THE WEEK!

2612 Espanola Street, Albuquerque, NM 87110  $165,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1140 Square Feet

HUGE LOT with BACKYARD ACCESS and custom gate in the NE Heights! Conveniently located close to Uptown, Trader Joe's, shopping, restaurants & parks! 3BDR/1.5BA/1CG featuring a large open great room with huge picture window and tile flooring! Remodeled kitchen with new soft-close cabinetry & crown molding, Quartz countertops! Beautiful shade tree in the front yard and oversized backyard with plenty of room for pets, backyard access, custom metal gate and covered patio for Summer BBQs!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

 

 

Albuquerque is more walkable than the average New Mexico city. It received a walk score of 43. It has a public transit score of 30. Where it shines is its bike friendliness. It has a bike score of 60, well above the national average of 50.This is aside from the many bike trails in the Sandia Hills.

The abundant outdoor recreational opportunities and service providers make it a great place to live, though it isn’t so popular that it is overloaded with tourists.

 

One of the Top Reasons to Own a Home in Albuquerque

by Sandi Pressley

Do you want a really good reason to own a home in Albuquerque? Besides being a fantastic location to live, when you own your home, it's what can be called a “forced savings plan.” When you make your mortgage payment, part of it is applied to the principle balance. Each month, you owe less on the home. The difference between the value of the home and what you owe is called equity.

If your home's value has increased since you bought it, then your equity increases. On average, home owners gained more than $65,000 in equity over the last 5 years. That's a lot of money!

When you compare spending habits to 10 years ago, we find that homeowners also are no longer tapping into that equity to buy expensive items. They were pulling out cash (equity) from an appreciating asset, and then spending it on rapidly depreciating items. That is not the case today.

The number of homeowners that currently have at least 50% equity in their home is astonishing. According to the Urban Institute, 37.1% of all homes in the country are mortgage-free. In a home equity study, ATTOM Data Solutions revealed that of the 62.9% of homes with a mortgage, 25.6% have at least 50% equity. That number has been increasing over the last five years.

By doing a little math, we can see that 53.2% of all homes in this country have at least 50% equity right now. Of all homes, 37.1% are mortgage-free and an additional 16.1% with a mortgage have at least 50% equity.

As we can see, owning a home in Albuquerque is far different from renting. Owning a home means that your mortgage payment comes back to you in the form of equity in your home. That doesn’t happen with your rent payment. Your rent helps build your landlord’s equity instead.

Let us help you find the home of your dreams in Albuquerque. And make sure to join us twice a week on our blog for more 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!

1800 Cooke Canyon Drive NW, Albuquerque, NM  $385,000

4 Bedrooms / 3 Bathrooms (1 full, 2 half) / 2690 Square Feet

Mountain Views! This popular one story Pulte floorplan has 4BDRS/3BA plus separate office/study with French doors!! Light, bright and open featuring two walls of sliding doors opening to the outdoor living space, covered patio showcasing mountain views! REFRIGERATED AIR! Tankless Water Heater! Approx 19k in new engineered wood flooring! 11k Professionally landscaped backyard with grass, roses, shrubs! Gourmet kitchen has built-in stainless steel appliances, gas cooktop, huge teardrop shaped Island, granite counter tops, beautiful cabinetry, backsplash & walk-in pantry. Master suite has bay window, large shower, raised granite dual sink vanity & walk-in closet!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

How To Cope With Rising Home Prices In Albuquerque

by Sandi Pressley

Real estate prices in the Albuquerque market are expected to rise at a steady pace throughout 2019. In fact, Albuquerque home values have gone up 4.2% over the past year and Zillow predicts they will rise 2.6% within the next year. If you're considering moving to Albuquerque, there are a few creative ways to cope with rising housing costs and get into your dream home sooner rather than later.

Consider Nearby or Adjacent ZIP Codes

The old adage in real estate is “location, location, location,” but often the location is the very thing that makes certain ZIP codes so pricey. When looking into a desirable area, consider the nearby or adjacent neighborhoods to scout for more affordable finds. The good news is that if your house is near a pricier area, home prices are expected to remain strong or even rise as demand for the area increases.

Purchase a Foreclosure or Fixer-Upper

Purchasing a foreclosure or home that needs a little work is a smart move if you want to buy into a more expensive neighborhood and stay in your price range.

Fixer-uppers can yield significant discounts in major urban areas, as much as 40% to 50%, according to research conducted by realtor.com, but inventory may be low, and the competition may be fierce.

Consider a Roommate

If you can afford a home but are concerned about what the monthly payment will do to your lifestyle (and budget) consider renting out rooms in your house to a long-term roommate or on housing-share apps.

This way, your housing payment gets covered and any extra can go toward paying down the mortgage, paying off student loans, or maintaining your lifestyle.

Try a Starter Home Before Thinking of a Forever Home

Think about what you really need in a first-home purchase as opposed to what you fantasize about having. With so many first-time buyers now delaying home ownership until their early 30’s (when a family and kids comes along), many skip the notion of the starter home and leap right into the forever home - often at a cost.

Starting small allows buyers to start putting housing payments into equity, not rent. Should property values rise, after a few years a buyer would then be able to upgrade into something bigger or more practical for their lifestyle.

Also keep in mind that just because you qualify for a loan amount, it doesn’t mean you have to borrow the maximum. When shopping for homes, be sure to find something that sits comfortably in your budget once you factor in insurance, taxes, home maintenance, and even discretionary funds.

While these tips may not land a first-time buyer in their ideal neighborhood straight away, equity (the amount of your house that you “own”) builds over time and works in favor of the buyer. Remember: With time and patience, many may be able to cash in on the equity in their first home and move into their ideal square footage or location.

Looking to find the perfect home in Albuquerque? Let us help you find the perfect home in Albuquerque. And make sure to join us twice a week on our blog for more 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!

7 Chamisa Road, Placitas, NM  $468,000

3 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2500 Square Feet

Southwest Style custom home on incredible 2 acre lot with stunning views. Exquisite tile & woodwork throughout. Well appointed kitchen with SS appliances, granite counters, large pantry and island. New Carpet in 2019, new Paint in bedrooms and entry 2017, Refrigerated air, raised ceilings, open floor plan, skylights and lighted niches make this home perfect for entertaining. Private master suite has private balcony access, double sinks w/jetted tub, separate shower and a huge walk-in closet. Backyard has covered patio, water feature, fire-pit and mature landscaping. Over-sized 3 car garage, water softener, central vac system, upgraded sinks and faucets, brand new septic in 2013, the list just goes on!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Who to Know When Buying a Home in Albuquerque

by Sandi Pressley

How do I get approved for a home loan? Who will help me find the right home in Albuquerque? Don’t panic! Here are the top four people you need to know when it comes to buying a home.

The Person Who Approves the Loan

One of the first people you’ll need to work with is a loan officer or lender. This is the person who helps you understand the ins and outs of getting a loan, as well as any requirements or conditions.

Before speaking with the loan officer, however, you may want to estimate what a monthly mortgage payment may look like, which you can do with a simple mortgage calculator. Your monthly payment will include homeowners insurance, property taxes paid into an escrow account, and, if you put down less than 20%, PMI or private mortgage insurance.

Remember: The bank will provide an initial number of what it thinks you can afford based on your gross monthly income. But it’s up to you to account for your own personal budget and living expenses.

Once you’ve spoken with the lender, it’s worthwhile to get a preapproval letter, which shows how much the bank would be willing to lend you based on your full financial picture. Without this letter, most sellers won't take you seriously and may not even accept your offer.

The Person Who Finds the Home

A real estate agent is usually the first person that most people speak to during the homebuying process. You need someone who understands the housing market in Albuquerque.

When you begin your home search, you might start with an online search. While these property listing sites provide formatted data on available properties, a REALTOR®, such as Sandi Pressley, will have access to the latest information and can provide any updates or correct misinformation found online.

A REALTOR® can work on your behalf or on behalf of the seller. When you’re buying a home, it’s important to work with a buyer’s agent, whose responsibility is to you, not the seller.

You should ask the agent all the questions that are important to you — how much other homes in the area recently sold for, how long those homes were on the market, and any other questions that might help you make an informed decision.

The Person Who Inspects the Home

Once you have found a home, made an offer, and signed the contract to buy, it’s time to hire a home inspector. The contract will specify how many days you have to get the inspection. The home inspector will come to check things like structural integrity, plumbing, electrical systems, heating and cooling, the condition of windows, walls, door frames, ceilings, the attic — basically anything that can be seen without going into walls.

The Person Who Checks Ownership of the Home

The title officer or title company checks the ownership of the home to make sure there are no potential disputes with previous owners, and, ultimately, will issue title insurance for the property. This insurance protects you and the lender if there are claims or lawsuits against your ownership of the property.

Each person has a distinct role in the homebuying process in Albuquerque, and being informed about exactly what you need from them helps make the process run smoothly. The key is patience — it’s all worth it when you get the new keys to your home!

Looking to find the perfect home in Albuquerque? Let us help you find the perfect home in Albuquerque. And make sure to join us twice a week on our blog for more 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!

104 Sandia Mountain Ranch Drive, Tijeras, NM  $479,000

3 Bedrooms / 2 Bathrooms (2 full, 0 half) / 2608 Square Feet

Resort style living in the mountains with incredible views on approx 3.25 acres in Sandia Mountain Ranch!! Custom elegance featuring TPO Roof, Refrig Air, Sec System, Water Softener, Skylights, Private Elec Gate. Amazing outdoor living space featuring a huge raised deck for entertaining, relaxing in nature taking in the mountain views! Great room features wall of windows, wood beam ceiling, wood stove. Custom kitchen features cherry cabs, granite countertops, walk-in pantry, bkfst bar & nook. Master suite features his/her vanities, jetted tub, sep shower, two walk-in closets. Finished & insulated oversized 2CG!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Pros and Cons of Fencing Your Yard

by Sandi Pressley

If you're deciding whether to build a fence for your property, be it a wood, wrought iron, vinyl or chain link fence, they can be expensive. So it's a good idea to decide what your needs are and if a fence is worth the cost. You need to consider the pros and cons of fencing your yard.

Since fences are so prevalent, the pros certainly outweigh the cons. Here's a few points to consider.

PROS

Privacy

Privacy is obviously the main benefit of having a fenced yard. Having a fence not only reduces the disturbance to your neighbors, but to your family as they play in the pool, garden, sunbathe, etc. Having privacy in your yard can play a vital role in making sure your time outside with family and friends is protected from prying eyes.

Safety

Safety is another key reason people decide to fence their yard. If you have a swimming pool, it's especially essential to have a fence that will protect your family. It's also a great way to keep out the critters you don't want in your yard, as well as letting your dog run free.

Noise Reduction

If you live near a busy street, noise may be an issue. Building an 8 ft high solid fence can reduce noise by up to 10 decibels. Acoustifenc is a product that has been used to reduce sound along highways and mass transit lines. You can now use it in residential settings, and it's reported to reduce noise by up to 5 percent, depending on fence height, elevations and noise frequencies.

Design Element

A well built fence can add a great deal to your home's overall appeal. Picket fences are a great example of how a fence can add to the attractiveness of a property, as well as define the property boundary.

The biggest cons in building a fence are often overlooked. Months or years after building a fence consumers may feel like they made the wrong decision.

CONS

Maintenance

A fence well cared for will add to the appeal of your home for years. But if you don't keep them up, they can deteriorate over the years, especially wood fences. Wood fences, specifically, require occasional cleaning, staining, sealing or painting and can warp and rot over time.

Expense

Fencing an an entire property, or even part of one, is expensive. The price can vary a great deal depending on materials and length, number of gates, and labor.  A wooden privacy fence now averages $17.31 to $23.13 per linear foot – that’s $2,596.50 to $3,469.50 for a 150-foot-long fence.

When determining whether to build a fence or not, it is important to weigh the pros and cons. Typically, the pros will outweigh the cons.

Looking to sell your home for the right price in Albuquerque? Let us help you sell your home in Albuquerque and get the right price. And make sure to join us twice a week on our blog for more 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!

8000 Oso Loco Road NE, Albuquerque, NM  $288,000

3 Bedrooms / 2 Bathrooms (1 full, 0 half) / 1879 Square Feet

Excellent opportunity to own in Far North East Heights neighborhood! This beautiful home is close to in shopping, bike paths and highly desirable schools. Open and bright floor plan with custom Southwest touches throughout; ledges; arched doorways and more. A custom Kiva fireplace with built-in Bancos grace the family room that opens to the sunny kitchen with breakfast bar; kitchen island; lots of cabinets and pantry for storage. Separate formal dining room. Master Suite w/access to patio and ample spa like en suite with walk-in closet that includes a custom closet system. Low maintenance front and backyard landscaping w/ lush shrubs and trees & cool covered patio for warm summer evenings.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Dangers of Not Backing Up Your Income Tax Documents

by Sandi Pressley

Millions of Americans will remember to do their taxes just in time to sprint to the April 15 finish, fists stuffed with W2s and receipts. But if you're a homeowner, wrangling income tax paperwork, or other home records is a marathon, not a sprint. Even more than repainting your house's facade or mowing your lawn, keeping important docs organized year round is a crucial part of home maintenance — it can save you $ and protect you from the Tax Man.

Here's what could happen if you don't keep accurate records and back them up.

You'll Pay More Taxes Than You Should

Homeowners get access to various deductions and credits based on payments for owning, financing, and maintaining a home. If you don't maintain your records, you may miss out on some of these major tax benefits:

1. Real Estate Tax and Mortgage Interest Deductions. "A homeowner's biggest tax break generally comes from his or their monthly mortgage payments since, for most folks, the bulk of that check goes toward interest, and all that interest is fully deductible on Schedule A," says Kay Bell, tax analyst at Bankrate.com. Property taxes are also deductible.

What You Need: Your annual statement from your mortgage company, which usually includes property taxes. If you pay your real estate taxes directly, the bill from your local unit of government.

2. Home Improvement Deductions: Improvements made for purpose of accommodating disabled residents can be included in medical expense deductions. Energy costs for certain medical-related improvements may also be partially deductible. 

What You Need: Receipts and a letter from a doctor.

3. Tax Credits for Energy-Efficient Upgrades: Installing new energy-efficient systems (that meet Energy Star guidelines) like insulation, a roof, windows, water heater, or furnace can earn you a credit to offset your tax liability. 

What You Need: Receipts and certification from product manufacturers.

4. Home Office Deductions: If you can deduct the costs of a home office , you will need to prove you paid those expenses. For example, if your home office takes up 10% of your home's square footage, you can deduct 10% of your home insurance and utility costs. But you need proof you paid those bills. 

What You Need: Bank statements, bill receipts, insurance receipts, your mortgage documents, and any other documents of related expenses. If you're self-employed, you'll be taking this deduction on Schedule C.

You May Have Trouble Selling Your Home

It's not just the IRS that requires paperwork. Ryan Fitzgerald, a REALTOR® in Raleigh, N.C., and owner of Raleigh Realty, recently ran into proof of ownership issues when a seller hadn't backed up his paperwork, nearly causing a delay in the sale of his property.

"The original deed was filed with the wrong county in North Carolina. The original bank was sold to another bank, and there were several refinances in between that caused confusion as well. The original paperwork could not be located by the purchasing bank, and since the original bank was no longer in business, the seller was freaking out about the sale not being able to go through," recalls Fitzgerald.

"The buyer's attorney needed to prove that my seller did indeed own the property outright, and could not do so without the original deed," he says. "This all could have been avoided if there were duplicate documents backed up."

What You Need: Your home's deed, or deed of trust if you have a mortgage that needs to be paid off.

Selling your home in Albuquerque? Get a FREE home valuation of your home today. Looking for the perfect home in Albuquerque? Our powerful home search feature will help you find the home of your dreams. And make sure to join us twice a week on our blog for more 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!

326 Atrisco Drive SW, Albuquerque, NM 87105  $189,000

2 Bedrooms / 2 Bathrooms (1 full, 0 half) / 1570 Square Feet

Check out this incredible opportunity! Precious 2 BR Adobe with separate Casita! Lovingly restored, the main house boasts wood floors, newer water heater, newer metal roof and refrigerated air. With beautiful landscaping surrounding, the separate casita has a kitchen, full bath & combo sleeping/living area. This oversized lot - greater than a 1/2 acre - also boasts irrigiation from the Atrisco Ditch and great open space!! Both the main house & casita have a solid Air BnB rental history. Don't miss this one!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Planning For the Future When You Buy a Home in Albuquerque

by Sandi Pressley

Buying a home in Albuquerque is a huge financial responsibility. Sure, buying a home is very exciting, but you need to also need to look carefully at your current and future plans before you take this important step in your life.

Here are five questions to consider:

Where Do You See Yourself in 5 Years?

How do you feel about your career? What about your family situation? So you see any of these things changing dramatically in the next few years?

If you plan on starting or growing your family in Albuquerqueor starting a new career, try your best to factor in those changes before you buy. You can't predict everything, but you can make good guesses that can help guide your decision.

What Will It Cost to Both Purchase and Own Your New Property?

There's more to the price of a home than just the initial purchase price.

A general rule of thumb is to keep your PITI (principal, interest, taxes, and insurance) costs below 28% of your gross monthly income, while your overall debt-to-income ratio should be no more than 36%.

If you are buying a bigger space than what you currently have, then you need to factor in increased heating and cooling costs. Also, plan for homeowner’s association dues if applicable. 

In addition to the funds you have for your down payment, don’t overlook the following expenses you’ll incur once you purchase your home: 

  • Moving costs 

  • Closing costs 

  • Home repairs 

  • Painting 

  • New appliances 

  • Fixtures

  • Furniture 

It is recommend to open a separate savings account in addition to your down payment fund to save for these expenses.

What’s Your Credit Score?

Your credit score will make a huge difference in the overall cost of your home over the years. A higher score can save thousands of dollars over the course of your mortgage. And of course, a lower score can cost you a higher interest rate.

If you have any issues on your credit report, tackle them as soon as possible.

What About Home Repairs and Maintenance?

How much property in Albuquerque can you handle? Does the home have a pool or huge lawn, or landscaping? Will you maintain these elements, or will you hire them out to be maintained. Try to price all of this out before you buy to make sure you can afford it.

Location, Location, Location

Where you live can be just as important as what you live in. How far away is work, shopping, or other services you regularly use?

In addition to transportation costs, consider whether your food and utility costs will increase or decrease, and whether you’ll enroll kids in the local school district or opt for private schooling.

Selling your home in Albuquerque? Get a FREE home valuation of your home today. Looking for the perfect home in Albuquerque? Our powerful home search feature will help you find the home of your dreams. And make sure to join us twice a week on our blog for more 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!

326 Atrisco Drive SW, Albuquerque, NM 87105  $189,000

2 Bedrooms / 2 Bathrooms (1 full, 0 half) / 1570 Square Feet

Check out this incredible opportunity! Precious 2 BR Adobe with separate Casita! Lovingly restored, the main house boasts wood floors, newer water heater, newer metal roof and refrigerated air. With beautiful landscaping surrounding, the separate casita has a kitchen, full bath & combo sleeping/living area. This oversized lot - greater than a 1/2 acre - also boasts irrigiation from the Atrisco Ditch and great open space!! Both the main house & casita have a solid Air BnB rental history. Don't miss this one!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Packing Hacks That Make Moving Less Awful

by Sandi Pressley

No matter how you slice it, moving is exhausting. Packing up, moving, and then unpacking an entire house is the worst.

Yet there are ways you can cut down on all that aggravation, effort, and anxiety. Here's a few pro tips that can help during your next move.

Do a Pre-Pack Photo Shoot

Here's an idea that can save your memory and sanity. Trying to remember where all those cords go and how you had your bookshelf looking so good can get mind-numbing when you mix it in with the rest of the process.

Save yourself some grief by taking pre-packing photos of all those things that were hard to arrange int he first place, so you won't have to figure it out again. With photos in hand, you’ll be able to recreate it all in record time.

Corral Cords With Toilet Paper Rolls

There's nothing more frustrating than not being able to find extension cords when you need them during a move. You know you've seen them laying around, but where?

When you pack, wind up each cord in a 6-inch coil, then insert it in a toilet paper roll. You’ll have lots more room in the box, and no tangled mess to unpack later. Just remember to clearly label the box!

Create a "Moving Toolbox"

Keep all your moving tools, such as your Sharpies, packing tape, box cutter and such together in a “moving toolbox” that you can take from room to room as you pack. This will keep you from misplacing small essential items when your house is full of boxes.

Tape Appliance Cords to Their Homes

You could be exploring your new neighborhood, but you're too busy trying to find the right power cord for your appliances.

You can save more time by taping the plug to the appliance it belongs to. Then go get a taco on the corner with your reclaimed time.

Use Your Towels, Blankets as Packing Materials

Another way moving day gets frustratingly extended? Your third trip to the store to buy more bubble wrap.

Kudos on treating your breakables with care, you don’t need the store-bought stuff. Pot holders, oven mitts, and even those old paper and plastic grocery bags you were planning to recycle make great packing materials. Also consider towels, pillows, blankets, the kids’ stuffed animals — whatever’s soft!

Color-Code Boxes

If you’re paying movers, really get your money’s worth by making it easy for them to deposit every box in the right room.

Assign a color to each room, then mark that color on the outside of each box. Before movers arrive, add the correct color label to each room’s door. They’ll love the simplicity, and you’ll love not having to haul everything that was supposed to go in the office out of the playroom.

Search for your dream home in Albuquerque with our easy to use home search. Check back on our blog every week for more real estate advice and local articles about living in Albuquerque. And make sure to follow us on Facebook for up to date real estate news for Albuquerque and surrounding areas.

HOT HOME LISTING OF THE WEEK!

10215 Alexandria Road NE, Albuquerque, NM 87122  $299,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1639 Square Feet

Gorgeous backyard! Impeccably maintained ONE LEVEL 3BDR/2BA home with so many updates! Updated Andersen windows & patio door (2008), aluminum patio cover & extended outdoor patio (2015), furnace (2016), sidewalk to backyard (2015), water heater (2011) and so much more! REFRIG AIR! Light, bright & open floor plan with skylights, TWO living areas, kitchen is open to the family room with access to the covered patio, features an island, roll-out drawers, pantry, dec backsplash & sunny bkfst nook! Master suite has walk-in closet & linen closet. Incredible outdoor living area with a large covered patio, beautifully landscaped yard with grass, shrubs, trees & mountain views!! Close to schools, parks shopping, Trader Joe's, foothill trails!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are you buying a home for the first time in Albuquerque and trying to figure out how to save for that crucial down payment? You're certainly in good company. Saving for a down payment is a struggle that many first time buyers have. But younger buyers have been getting creative, suing modern methods to help save money.

One creative way that young buyers have been using to save money is crowd sourcing. This method is really starting to gain traction, and it's a great way for family and friends to help you buy your first home in Albuquerque.

Here's how they do it. When the young couple gets married, instead of a wedding registry or buying traditional gifts, they invite guests to contribute to a “Down Payment Fund." The new couple may already have the things they need to start a new life. What they really need is a new home to put it all in. It's the perfect collective wedding gift!

When you do the math, it works out, since most weddings average about 120 guests. The average gift costs about $186. That would give the new couple over $22,000 for a down payment! Of course this figure could vary greatly. But as any newly wed couple knows, anything helps. And those who contribute to the fund know it's going to be used wisely.

And as you've already no doubt guesses, there's online services to do this, such as HomeFundMe. These services make it easy for friends and family to contribute. Plus the ones contributing can decide if their gift is  ‘conditional’ or ‘non-conditional’ on the beneficiary buying a home.

According to a recent Wall Street Journal article report, “about 400 borrowers have used HomeFundMe to help buy homes since the program launched in October and on average, they raise about $2,500.” The article goes on to show that these funds are used by the borrower along with their own savings to help them reach the down payment.

The other major factor helping new home buyers is programs that let first-time buyers make a down payment of as little as 3% such as with Fannie Mae and Freddie Mac loan programs. Also, FHA programs require as little as 3.5%, and VA Loans are often approved with 0% down!

Gone are the days when you had to come up with a whopping 20% down. And with this creative solution, now even more first-time buyers in Albuquerque can make owning a home a dream come true.

Search for your dream home in Albuquerque with our easy to use home search. Check back on our blog every week for more real estate advice and local articles about living in Albuquerque. And make sure to follow us on Facebook for up to date real estate news for Albuquerque and surrounding areas.

HOT HOME LISTING OF THE WEEK!

7508 Calle Montana NE, Albuquerque, NM 87113  $419,000

5 Bedrooms / 3 Bathrooms (2 full, 1 half) / 3000 Square Feet

Beautiful 5 bedroom Stillbrooke in highly desirable planned community! The main level offers a grand open floorplan that seemlessly connects the living spaces. Cathedral ceilings & Clerestory windows lend to the light, bright family room w/cozy fireplace; A chef inspiring kitchen will delight featuring gorgeous granite counter tops, ample cabinet space, large pantry, eat at kitchen island & sunny breakfast nook. Master suite is situated on the main level at the back of home for optimal tranquility with backyard access, spa like en suite & huge walkin closet. Upstairs features a loft/den, three more large bedrooms, & another full bathroom. Enjoy the tranquil water feature in the professionally landscaped and fully walled backyard.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

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