Real Estate Information Archive

Transforming your Albuquerque home into a luxurious sanctuary doesn't have to drain your bank account. With a few strategic choices and some creativity, you can elevate your living space's elegance without spending a fortune. Here are some expert tips to help you achieve that high-end look for less.

1. Paint Wisely: A fresh coat of paint can do wonders. Opt for neutral shades that provide a timeless and sophisticated backdrop for your decor. Warm whites for walls and crisp whites for trims can create a clean and inviting atmosphere.

2. Texture Play: Mixing textures can add depth and interest to your home. Combine smooth leather furniture with fluffy cushions, or pair a wooden coffee table with a metallic vase to create a dynamic look.

3. Statement Rugs: A large, well-placed rug can anchor a room and make it appear larger. Choose a design that complements your color scheme and adds a touch of luxury.

4. Smart Storage: Clutter is the enemy of luxury. Use stylish baskets and decorative bowls to hide everyday items and maintain a neat and orderly appearance.

5. Pillow Talk: Overstuffed throw pillows exude comfort and opulence. Use larger inserts than the pillow covers to achieve that plush, inviting look.

6. Elevate Your Curtains: Hanging curtains closer to the ceiling can give the illusion of height and grandeur. Opt for long, flowing drapes to enhance the elegance.

7. Update Lighting: Swapping out dated light fixtures for modern ones can instantly uplift a space. Consider pendant lights or chic lamps to add character and warmth.

8. Accessorize Wisely: Less is more when it comes to accessories. Choose a few impactful pieces, like a statement vase or a bold piece of art, to draw the eye and create focal points.

9. Furniture Proportions: Select furniture that fits the scale of your room. Avoid pieces that are too large or too small, as they can disrupt the harmony of the space.

10. DIY Elegance: Simple DIY projects, like adding molding or a tile backsplash, can give your home a custom, luxurious feel without the custom price tag.

11. Greenery and Florals: Incorporate plants and fresh flowers to breathe life into your rooms. They add color, texture, and a sense of luxury.

12. Scent-sational Atmosphere: A luxurious home isn't just about looks; it's also about ambiance. Use scented candles or diffusers to create a pleasant and inviting scent throughout your home.

Remember, creating a luxurious home is about making thoughtful decisions that reflect your personal style and attention to detail. With these tips, you can enjoy the luxury you deserve, all while staying within your budget. Happy decorating!

HOT ALBUQUERQUE LISTING OF THE WEEK

Beautiful 'Move in Ready' Home situated in the quaint community of Mountain Hawk! With 5 bedrooms/2.5 bathrooms, this home is ideal for large &/or extended families, hobbyist, etc! Featuring efficient floorplan with 2 living areas; easy care tile & Mohawk laminate flooring thru-out; gourmet kitchen w/granite countertops; upgraded cabinetry; pantry; overlooking dining & family room. Privately situated on main floor, the primary suite is a true retreat w/spa like en suite. Upper level boasts a spacious loft plus 4 more bedrooms & full bath w/dbl vanity. Low maint' front & back yards w/covered & open flagstone patio, weed barrier, decorative rock/mulch, privacy fence, raised garden beds, security side gate, shed & more. Close to local amenities with easy commute to Santa Fe or Albuquerque.

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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.

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Being underwater on your mortgage for your Albuquerque home, where the balance you owe is greater than the value of your home, can feel like a daunting and isolating experience. However, it's important to remember that you have options and there are strategies you can employ to navigate this challenging financial situation.

Refinance Your Mortgage

Refinancing could be a viable option if you're eligible. This process involves taking out a new mortgage with better terms, which could lead to lower interest rates and monthly payments. It's essential to consider closing costs and how long you plan to stay in your home before deciding if refinancing is right for you.

Loan Modification

A loan modification is a negotiation process with your lender where you can discuss altering the terms of your loan. This might include extending the duration of your mortgage, reducing the interest rate, or even forgiving a portion of the principal. Each lender has different policies and programs for modification, so direct communication is key.

Short Sale

In a short sale, you sell your Albuquerque home for less than the outstanding mortgage balance with the consent of your lender. This can be a complex process that requires approval from all parties involved, including potential buyers and any secondary lenders if you have more than one loan on the property.

Deed in Lieu of Foreclosure

Offering a deed in lieu of foreclosure means voluntarily transferring ownership of your property to the lender as an alternative to foreclosure. While this can relieve you from the mortgage debt, it's important to understand that it may have tax consequences and impact your credit score.

Seek Legal Advice

Consulting with a real estate attorney or financial advisor can provide valuable insights into your situation. They can help you understand the legal implications of each option and guide you towards making an informed decision.

Government Programs

Investigate government programs designed to assist homeowners in distress. Programs like HARP (Home Affordable Refinance Program) or HAMP (Home Affordable Modification Program) may offer solutions if you meet their eligibility criteria.

Budgeting and Financial Planning

Take a close look at your finances and consider creating a budget that accounts for your reduced home value. Financial planning might also involve prioritizing expenses, cutting non-essential costs, and exploring additional income streams.

Remember, being proactive is crucial when dealing with an underwater mortgage. Explore every avenue, communicate openly with your lender, and seek professional advice to find the best path forward.

HOT ALBUQUERQUE LISTING OF THE WEEK

Incredible 3BDR/2BA home with so many upgrades built by Abrazo Homes! Gorgeous upgraded tile flooring throughout the main living, kitchen, baths, hall & utility rooms! Luxury kitchen pkg w/upgraded raised panel cabinetry & crown molding, new microwave & dishwasher (2023), gas stove, pantry, recessed lighting! Primary suite features new shower (approx 1yr), raised dual sink vanity, garden tub, large walk-in closet w/extra shelving. Secondary bdrs w/walk-in closets! Cabinets & counter in utility room! Navien tankless water heater! Recirculating Pump! Anderson windows! Front storm door! Insulated garage & garage door w/workbench & extra outlets! Expanded covered & open patio for entertaining! Great location, close to parks, schools, shopping, Cottonwood Mall!

Learn More!

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.

Get your Morning Inspiration with the Sandi Pressley Team!

The security of a new home in Albuquerque goes beyond physical barriers. While homeowners prioritize visible precautions like sturdy locks and security cameras to establish safety, they often neglect cybersecurity measures that safeguard the home network. However, failing to secure the digital entry points into a home can leave it vulnerable to intrusion. Just as strong locks deter physical intruders, proactive cybersecurity deters hackers from exploiting weaknesses and gaining access. A truly secure home requires protection for both the physical property and the digital one.

To better secure your home network and protect your personal information, take these key steps: Change the default Wi-Fi name and password, keep your router software updated, disable SSID broadcasting, and implement additional practices like using a firewall, encrypting data, and enabling two-factor authentication. Taking these precautions will prevent unauthorized access, stop hackers from stealing private data for financial gain, and strengthen the overall cybersecurity of your home network.

Risks of having an unprotected home network

Your home network is vulnerable to cyberthreats like data theft, identity theft, and malware without proper cybersecurity. Any device on your network could be compromised. The growing Internet of Things (IoT), with connected devices like smart TVs, thermostats, and refrigerators, introduces new risks. The biggest is the lack of encryption—if an attacker accessed the network, they could steal credentials and data sent to and from devices.

New homeowners must implement key security measures to protect their home network from cyberthreats. The best practices include:

1. Getting a VPN

A Virtual Private Network (VPN) is an excellent way to protect your smart devices by encrypting your internet traffic and hiding your IP address. This prevents unauthorized access to your connection by hackers, software, and web browsers. Most VPN providers are easy to set up on routers or offer DNS features that allow installation on devices that don't natively support VPNs, like smart TVs and game consoles. A key benefit of a VPN is the ability to virtually relocate to other countries, granting access to region-restricted content. For budget-conscious users, an affordable monthly VPN subscription makes this essential cybersecurity tool very accessible, providing reliable protection without being costly.

2. Changing the default passwords on all your smart devices

Keeping the default passwords on your internet-connected devices poses a major security threat. Hackers can take control of your smart devices by gaining unauthorized access and stealing private data or using them for illegal activities like botnets. Botnets are networks of infected devices that hackers control to steal information, distribute spam, or launch cyberattacks. Consequently, changing the default passwords on all your smart gadgets is essential to improve your home's cybersecurity.

3. Installing antivirus software

Antivirus software provides crucial protection by detecting and eliminating malicious viruses like malware and spyware that infiltrate devices. Viruses can enter through email attachments, downloaded apps, web links in texts, or online ads. Once activated, malware damages system data, steals confidential information, spies on system resources, and slows performance. Antivirus software blocks and removes viruses and malware while warning users about dangerous websites, apps, attachments, and links. Installing antivirus software helps secure home networks and smart devices from cyberthreats.

With cyber-attacks on the rise each year, it is crucial for new Albuquerque homeowners to implement cybersecurity practices that protect their homes from threats. Simple yet effective measures like using a VPN, changing default passwords on smart devices, and installing antivirus software can help homeowners establish a sense of safety and cyber defense in their homes.

HOT ALBUQUERQUE LISTING OF THE WEEK

1526 Vassar Drive NE, Albuquerque, NM 87106

Welcome home to this precious house in the heart of the UNM corridor! Charming wood floors lead the way to the open living room plus light and bright kitchen featuring eat-in space and gas range. Featuring FOUR Bedrooms, this one has room for everything. 4th Bedroom also showcases a separate outdoor entrance for potential Air BnB use. Newer TPO Roof (2020) and Electrical Panel Upgrade (2021)...plus a HUGE yard situated on almost 1/4 acre ready for your ideas and projects. Enjoy the convenience of both an attached garage and a U-shaped driveway all while being close to UNM, Green Jeans and the new Whole Foods. Come see this today!

Learn More!

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.

Get your Morning Inspiration with the Sandi Pressley Team!

"You know what I love about fitness? I love fitness whole pizza in my mouth."

This old, eye-roll inducing joke still gets a laugh, even if only for the kernel of truth at its core. What makes it even more poignant: The weekend has arrived, and though you may have lofty plans to hit the gym daily or go on long hikes (or both!), you're probably more inclined to settle in with a pizza. Sound familiar?

Doing that cleaning you've been putting off can actually burn calories, so go ahead and enjoy some pie guilt-free - no need to feel bad about skipping the gym.

"Does housework count as a workout? The answer: Yes! There's a reason they call it housework," said Fitness Magazine. "You can burn serious calories during a marathon cleaning session."

This weekend, tackle these home cleaning tasks - with one home renovation project and two weekend chores added - while remembering to prioritize each activity based on your personal preferences and schedule.

Calorie estimates assume a 150-pound person. Adjust up or down by 20% for lighter or heavier weights. For example, vacuuming burns about 200 calories for a 150-pound person. So a 120-pound person would burn around 160 calories, while a 180-pound person would burn about 240 calories.

Vacuuming: According to Shape, vacuuming could help you reach your daily goal of 10,000 steps, depending on the size of your home. In just 30 minutes of vacuuming, you could burn around 119 calories.

Mopping: Your floors probably need it, and the best news is that this task will burn about 150 calories in an hour!

Cleaning the bathroom: We hope your bathroom cleaning does not take an hour, but you could clean three bathrooms in that time, burning 180 calories—enough for a sweet treat after dinner!

Scrubbing the tub: Scrubbing away stubborn soap scum in the bathtub for 15 minutes provides a great arm workout and can burn over 90 calories, making this unpleasant chore more motivating.

Gardening: Spending an hour in the yard cleaning up flower beds or preparing the space for cooler weather ahead can burn about 250 calories. All the bending, kneeling, and leaning involved in yard work provides a great calorie-burning workout.

Get the windows sparkling clean: Health stated that washing the inside and outside of your windows for 30 minutes burns around 100 calories.

Painting the walls: Add a splash of color to your home this weekend by painting for an hour - you'll burn approximately 270 calories in the process.

Grocery shopping: Considering a one-hour grocery store trip can burn 350 calories, you may want to rethink having your groceries delivered or using the market's pre-order/load up service.

So there you go! You can have a clean house and improved health by following these tips.

HOT ALBUQUERQUE LISTING OF THE WEEK

Beautiful Home located in the highly desirable gated community of Sara's Meadow! Featuring a bright & open floorplan, cozy fireplace in great room that opens to the adjoining breakfast nook & kitchen with double sliding doors & picture window providing abundant natural light. All kitchen appliances, washer & dryer convey! Primary Suite suite offers a separate slider door for backyard access; ensuite with soaking tub/shower combo & ample walk-in closet. Separate living area can be used for hobbies, exercise space, TV room, etc. Second bedroom has its own walk out patio. Ceramic tile thru-out except bedrooms, raised ceilings, custom window coverings, & more. Wagner heating & cooling system & water heater approximately 2 yrs old. Low maintenance yards. Close to trails, shops, & restaurants!

Learn More!

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.

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Homeowners who bought a home in Albuquerque after December 15, 2017 can deduct interest paid on the first $750,000 of their mortgage when itemizing their tax return. Other homeowners can deduct interest on the first $1 million of mortgage debt.

The following is a guide to what to know about the mortgage interest deduction and how it works.

The Basics

The mortgage interest deduction allows homeowners to reduce their taxable income by the amount paid in mortgage interest over the year. Homeowners with a mortgage can lower their tax bill if they keep records of interest paid. In general, interest on the first $1 million of a mortgage for a primary or secondary residence can be deducted. However, for homes purchased after December 15, 2017, the deduction applies only to the first $750,000 of mortgage debt.

What Qualifies?

If you’re deducting mortgage interest for your primary home, typically, the following will count:

• Your property can be a mobile home, house, apartment, condo, co-op, house trailer, or even a houseboat
• Your home has to be the loan’s collateral.
• The home needs to have sleeping, toilet, and cooking facilities.
• If you get a housing allowance from the military or through the ministry that’s not taxable, you can still deduct the interest for a mortgage.
• A mortgage you get to buy out the other half of your home in a divorce also counts.

If you have a mortgage on a second home, the following will qualify you:

• You don’t need to use the home throughout the year
• The house has to be the loan’s collateral
• If you rent out your second home, you need to be there for the longer of at least 14 days or over 10% of the number of days you rented it out

Points are prepaid interest you can get on a loan. You can deduct your points gradually through the life of your loan, or if you meet certain requirements, you can deduct them at the same time. The eight requirements you have to meet to deduct your points all at once include:

• The mortgage has to be for your primary home
• It’s an established practice to pay points in your area
• Your points can’t be abnormally high
• Your points aren’t for closing costs
• The down payment you make is higher than your points
• The points are calculated as a percentage of your loan
• The points are on your settlement statement
• You use a cash method of accounting on your taxes

If you paid a late fee that was not for a specific service related to your mortgage loan, you can deduct it. You can also deduct any prepayment penalty you incurred for paying your mortgage early as interest.

If you take out a home equity loan and use the money to buy, substantially renovate, or construct a home, the interest is tax deductible. However, if you use the loan for expenses unrelated to your home, the interest cannot be deducted.

What’s Not Deductible?

Most extra principal payments on your mortgage, homeowners' insurance, title insurance, and settlement costs are not deductible. Down payments, earnest money, deposits you forfeit, and interest on reverse mortgages are also non-deductible.

To claim a mortgage interest deduction, first look for Form 1098, which your lender will send in January or early February. This form details your total mortgage interest and points paid for the year, and your lender also sends a copy to the IRS. You will receive a Form 1098 if you paid at least $600 in mortgage interest, including points, during the tax year.

When you file your taxes, itemizing deductions is necessary if you want to claim more than the standard deduction.

Itemizing your taxes takes more time, but if your standard deduction is less than your total itemized deductions, you should itemize to lower your tax bill. Use Schedule A to calculate your itemized deductions. Tax software can also guide you through the itemization process.

HOT ALBUQUERQUE LISTING OF THE WEEK

Beautiful Home located in the highly desirable gated community of Sara's Meadow! Featuring a bright & open floorplan, cozy fireplace in great room that opens to the adjoining breakfast nook & kitchen with double sliding doors & picture window providing abundant natural light. All kitchen appliances, washer & dryer convey! Primary Suite suite offers a separate slider door for backyard access; ensuite with soaking tub/shower combo & ample walk-in closet. Separate living area can be used for hobbies, exercise space, TV room, etc. Second bedroom has its own walk out patio. Ceramic tile thru-out except bedrooms, raised ceilings, custom window coverings, & more. Wagner heating & cooling system & water heater approximately 2 yrs old. Low maintenance yards. Close to trails, shops, & restaurants!

Learn More!

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.

Get your Morning Inspiration with the Sandi Pressley Team!

Are you wondering if you can write off your home improvements? Home improvements in Albuquerque can have tax implications, but only in certain situations. For taxes, a home improvement is defined as any work that significantly increases your home's value, extends its useful life, or enables new uses for the property. The specifics of when home improvements impact taxes are examined below.

Home Improvements vs. Repairs

The money you spend on your home in terms of taxes can be divided into two categories: improvements and repairs.

The cost of capital improvements made to your home can be added to the tax basis, which is the amount subtracted from the sales price to determine your profit. However, you can only benefit from this tax basis increase when you sell the home.

A capital improvement in this context refers to anything that adds value to a home, adapts it to new uses, or prolongs its lifespan, as mentioned previously. Examples of capital improvements include installing a new roof or central air conditioning.

While capital improvements don't need to be major purchases, installing small upgrades like storm windows or a home security system can also qualify. However, repairs cannot be added to your basis. Repairs may include painting your home or fixing gutters. If you make any improvements to your home, be sure to keep thorough records of everything in case you sell the property in the future.

Tax Deductions for a Home Office

One way to save on taxes and improve your home is to build a home office. You can claim a deduction for improvements when converting an area into a dedicated workspace, which many people now do as more work from home.

The cost of any home repairs that improve the part of your home used as an office can also be deducted, based on the percentage of your home that is used for business.

Likewise, if you rent out part of your home, you may be able to deduct the cost of improvements made to that rented area. For example, if you were to add a bathroom to the portion of the home you rent out, you may be able to deduct the full cost of that renovation.

Medical Modifications

If a health care provider suggests modifications to your home to help you or to allow you to provide care for your family member, such as an aging parent, the expenses of these updates may be deductible. Examples include adding a wheelchair ramp or modifying your doorways. If the improvement adds value to your home, on the other hand, it’s not deductible.

Upgraded Energy Systems

If your health care provider suggests home modifications to help you or allow you to care for a family member such as an aging parent, you may be able to deduct the costs of these updates as medical expenses. Deductible improvements include adding a wheelchair ramp or widening doorways. However, you cannot claim the costs as a medical deduction if the modification increases your home's value.

The residential energy property credit covers several home improvements that increase energy efficiency, including installing energy-efficient windows, doors, skylights, metal or asphalt roofs, insulation, and heating and air conditioning system upgrades.

Upgrading your home opens opportunities to lower your tax bill, but restrictions apply. If any part seems unclear, consult a tax advisor since rules vary annually.

HOT ALBUQUERQUE LISTING OF THE WEEK

2109 Palenque Drive SE, Rio Rancho, NM 87124

Lots of entertaining spaces in this beautiful 4BDR/3BA/3CG home! Open floor plan features a large living room with wet bar, cabinets & wine rack, formal dining room plus a huge loft/recreation room! One bedroom or office on the main level! Huge primary suite with room for sitting area, large walk-in closet, dual sink vanity, garden tub & separate shower! Spacious kitchen features lots of cabinets, large island, breakfast bar & nook with bay windows. Outdoor living space with pergola to relax, unwind and entertain family & friends. In the heart of Rio Rancho, excellent location close to parks, schools, shopping, Intel, Presbyterian Rust Medical Center, Cottonwood Mall!!

Learn More!

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.

Get your Morning Inspiration with the Sandi Pressley Team!

Purchasing your first home in Albuquerque is an exciting milestone, and you'll likely want to personalize the space to make it truly your own. Renovating your home can be a rewarding experience if you approach the process with careful planning and forethought.

For new homeowners looking to renovate, here are five tips to help transform your property into the home of your dreams, whether you're planning minor upgrades or a major overhaul.

1. Create a Budget and Stick to It

To start any renovation project, the first step is to establish a realistic budget by thoroughly evaluating your finances and creating a detailed breakdown of expected costs.

When planning a budget, consider factors such as materials, labor, and any potential unforeseen expenses. A well-thought-out budget not only helps prioritize goals, but also ensures that you don't overspend or compromise the quality of work.

To save money without sacrificing quality, shop around for budget-friendly home items. For instance, many mattress stores in Albuquerque may offer affordable single mattresses that provide comfort and support, so you can sleep well without overspending.

2. Prioritize Any Repairs

Before diving into stylish upgrades, first address any necessary repairs or maintenance your new home requires. While an aesthetic makeover is tempting, focusing on function ensures your home's basic needs are met.

Addressing plumbing, roofing, and electrical issues early on will prevent minor problems from escalating into major repairs later.

Focus first on making any necessary repairs so your home stays safe, usable, and structurally intact. With urgent issues resolved, you can then turn your attention to the more exciting interior design projects with confidence.

3. Focus on Energy Efficiency

With concerns over climate change and rising costs, incorporating energy efficiency into home renovations benefits the environment and saves on energy costs. For example, installing double-glazed windows and insulating walls makes homes more eco-friendly. When choosing energy suppliers, consider companies that prioritize green solutions.

4. Work With Trusted Tradespeople

Though you can complete some parts of the renovation yourself, you should hire experts for areas like electrical work, plumbing, and structural changes to ensure those complex tasks are handled properly.

Although it may seem like an unnecessary cost, hiring professionals to maintain your health, safety, and home is crucial for your well-being and your property's longevity.

5. Plan for Your Future Needs

As you plan home renovations, consider how your family's needs and lifestyle may evolve, and aim to build in flexibility that allows rooms to serve multiple functions or accommodate future additions to the family.

Thinking ahead can save you time and money in the long run, ensuring that your Albuquerque home remains functional and accommodating for years to come.

HOT ALBUQUERQUE LISTING OF THE WEEK

460 Michael Avenue SW, Los Lunas, NM 87031

Beautiful Hakes Brothers home in the much desired Legacy at Sierra Vista subdivision. 1907 SF with 4 bd, 2 ba., built in 2022. Owner has finished the backyard and spent $10k on a (custom) security door and side gates. In addition; raised the walls in the backyard for privacy. Home comes equipped with a kitchen stainless package + washer/dryer. Builder upgrades include: fireplace, instant hot, pot filler, rain shower and so much more! Call for a showing today!

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Congratulations on your new home in Albuquerque! Moving presents an opportunity to holistically design your home's interior. Mismatched decor can make a home feel disjointed, like people talking past each other. Follow these tips to smoothly transition your furnishings during your move.

Planning

The first step is to survey the territory:

• List any furniture or decorative elements (like rugs or framed art) you are keeping from your prior home.
• Consider design aspects you can choose, like wall color, textures and lighting. Also take into account existing aspects that will impact your planning.

If you have a treasured family heirloom that will be moving with you to your new home, consider how your future furniture purchases can complement it. Take a moment to reflect on why this heirloom is meaningful to you. If it no longer sparks joy, feel free to pass it on to someone who will cherish it.

Preparing

Before painting, consider the furniture and overall interior design. For example, if you plan on a bold red sofa, choose neutral wall colors to let it stand out. Making paint choices too early may clash with furniture and decor you add later. It's best to finalize the furniture first, then select wall colors that complement the furnishings and create harmony.

When refinishing wood floors, consider how the floor and molding colors will visually interact with the rest of the interior design.

Prioritizing

Though acquiring all your furniture before moving in may not be feasible, prioritize purchases based on your family's needs. If you have children, buying a dining table and chairs should be a top priority, as this gathering spot can help the new house feel like home right away. Let the kids have input on decorating their rooms too - giving them a say can ease their transition.

Purchasing

Consider furnishing each room with major pieces from the same designer's collection, as they are designed to coordinate. Once you find a piece you love, explore other offerings from that line to build a cohesive look.

Rather than mere gimmicks capitalizing on a celebrity's name, celebrity furniture brands are carefully designed to evoke the mood and emotion most linked to that star. A great deal of work goes into creating a cohesive, evocative style for the entire line.

Getting Help

Rather than hiring an interior decorator, you can find free online tutorials on interior decorating and design that provide helpful guidance.

Your new Albuquerque home is just waiting for your vision and the opportunity to create your own world. Take your time and don't make rash decisions. Making the right choices now will help you create a home that will be your refuge for years to come.

HOT ALBUQUERQUE LISTING OF THE WEEK

460 Michael Avenue SW, Los Lunas, NM 87031

Beautiful Hakes Brothers home in the much desired Legacy at Sierra Vista subdivision. 1907 SF with 4 bd, 2 ba., built in 2022. Owner has finished the backyard and spent $10k on a (custom) security door and side gates. In addition; raised the walls in the backyard for privacy. Home comes equipped with a kitchen stainless package + washer/dryer. Builder upgrades include: fireplace, instant hot, pot filler, rain shower and so much more! Call for a showing today!

Learn More!

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.

Get your Morning Inspiration with the Sandi Pressley Team!

Living in a house in Albuquerque without paying the mortgage is a topic that sparks curiosity and misconceptions. However, the reality is complex. A mortgage is a long-term loan used to purchase a home, with specific terms and conditions outlined in a legal contract.

There are several factors that can determine how long you can stay in your house without making mortgage payments. These factors include the type of mortgage you have, the foreclosure laws in your area, your financial situation, and any negotiations you have with your lender. Additionally, it's worth considering the potential impact of foreclosure mediation in helping to find alternative solutions to mortgage problems.

The Consequences of Missing Mortgage Payments

Missing a mortgage payment can have significant consequences on your credit score and financial well-being. It is important to understand that even a single missed payment can have a lasting impact.

1. Late Payment Fees

Lenders often impose a late payment fee when borrowers fail to meet the due date for their mortgage payment. These fees can quickly accumulate, further contributing to overall debt.

2. Credit Score Impact

Late mortgage payments can have a significant negative impact on your credit score, making it harder for you to secure loans, credit cards, or favorable interest rates in the future.

3. Default Status

When you fail to make a certain number of mortgage payments, your mortgage is considered in default. At this point, the lender has the right to accelerate the loan, which means that the full balance becomes due immediately.

4. Foreclosure Proceedings

If you continue to miss payments, your lender may initiate foreclosure proceedings. However, there is a potential solution called foreclosure mediation, which allows homeowners to collaborate with their lenders and reach a mutually agreeable resolution to avoid foreclosure.

So, how long can you live in your house without paying the mortgage before these consequences come into play?

The Grace Period

The standard grace period for mortgage payments is typically 15 days after the due date. During this time, you can make your payment without incurring any penalties. However, it is important to review your mortgage agreement, as grace periods may vary.

Missed Payments and Penalties

Once the grace period is missed and consecutive payments are not made, penalties begin to accumulate. The exact number of missed payments that result in these penalties can vary, but typically lenders take action after three to four consecutive missed payments.

a. Three to Four Missed Payments

Missing three to four consecutive mortgage payments can result in your lender reporting the late payments to credit bureaus, which will negatively impact your credit rating.

b. Late Fees

Missing a payment not only affects your credit score, but also results in additional costs in the form of late fees. These fees can vary, ranging from a few percentage points to as much as five percent of your regular mortgage payment.

c. Default Status

Once you've missed multiple consecutive payments, your mortgage can enter default status. At this critical stage, the loan is accelerated and the outstanding balance becomes immediately due.

Facing Foreclosure

If you continue to miss payments, foreclosure becomes a looming threat. A foreclosure is a legal proceeding that gives the lender the right to confiscate and sell your property to recoup the money owed. The exact timeline for foreclosure can vary widely depending on state laws, court schedules, and lender policies.

The foreclosure process typically takes several months to over a year to be completed. Throughout this time, it is possible for you to continue living in your house. However, it is important to note that the impending loss of your home is a significant consequence.

The missed payments and default status have already greatly affected your credit score, making it challenging to secure another mortgage or find alternative housing.

Avoiding Foreclosure

If you find yourself unable to make your mortgage payments and want to avoid foreclosure, it is crucial to take immediate action. Here are some steps to consider:

• Contact your lender: It is important to maintain open communication with your lender if you experience financial challenges. They may offer options such as loan modification or repayment plans to assist you.
  
  
• Seek Assistance: There are various resources available to assist individuals facing financial difficulties and potential foreclosure. Government programs, such as loan modification and refinancing options, can provide solutions to help homeowners stay in their homes.
  
  
• Sell Your Home: If you are unable to continue living in your home, it may be wise to sell it before foreclosure becomes unavoidable. By doing so, you can use the proceeds to pay off your mortgage and possibly retain some of your equity.
  
  
• Legal Assistance: To delay or stop the foreclosure process, consult a foreclosure defense lawyer for alternative options.

The length of time you can live in your house without paying the mortgage before facing serious consequences varies based on factors such as your lender, mortgage agreement, and location. Generally, there is a grace period of approximately 15 days after the due date to pay without penalties. However, if you miss three to four consecutive payments, late fees, credit score damage, and the risk of foreclosure become significant concerns.

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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.

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Many people share the frustration of limited storage space in their homes. According to Forbes, a significant number of buyers are seeking additional storage options to better organize and declutter their living spaces. Garage storage solutions and walk-in pantries are particularly popular choices for effectively organizing and concealing items.

Take a new look at your house

If you're running low on linen space, consider transforming a corner or niche into a closet. With an open mind and fresh outlook, you can reimagine the space to meet your needs.

Pick the right furniture

Better Homes and Gardens recommends a hardworking living area that maximizes space with built-in cabinets for storage and display. Ottomans are a versatile option as they are small, movable, and can serve as a coffee table or extra seating. They also provide hidden storage for remotes, blankets, and other items, helping to declutter your space efficiently.

Grab some Space Saver Bags

Space bags are a practical storage solution for off-season clothes, jackets, and bedding. With the ability to compress items to a fraction of their original size, they are ideal for maximizing storage space. According to Amazon, the jumbo size is more than sufficient for bulky bed linens with pillows, a big winter jacket, or an entire season's worth of wardrobes.

Roll it out

There’s a better use for the space under your bed than dust bunnies. All you need are a few rolling storage tubs to reclaim this square footage for your stuff.

Recycle your coat closet

If you have a coat closet, it would be repurposed for other uses. Add some basic wire shelving, which you can find in tons of sizes and configurations, and now you’ve got a place to store linens, Costco goods, or anything that doesn’t currently have a place to go.

Go above and beyond

To maximize storage space in closets, consider adding an additional shelf at the top. This eliminates the risk of items falling or becoming unbalanced and allows for full utilization of the space up to the ceiling.

Hang from the ceiling

Garage storage is essential. However, if your garage is lacking in space, there is still a solution. SafeRacks are hanging garage storage shelves that can be purchased online or at Costco. These shelves allow you to elevate your belongings, freeing up valuable floor space for your vehicles.

Organize your pots and pans

If you're struggling with limited space and poor organization in your kitchen, it may not be a matter of lacking space altogether. Rather, it could be due to inefficient storage solutions such as oversized, shelf-less cabinets or poorly designed pantry shelves that hinder visibility to the back. Investing in the right organizer can have a transformative effect on your kitchen. Consider checking out specific recommendations, and you'll witness a remarkable improvement in your kitchen's functionality and organization.

DIY yourself a solution

With a vivid imagination and the right tools, you can create storage solutions that meet your needs. Consider incorporating secret compartments in the fireplace trim, pull-out drawers in the banquette, and the under-the-stairs trick to maximize space.

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Learn More!

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.

Get your Morning Inspiration with the Sandi Pressley Team