Real Estate Information Archive

If you plan to buy a home in Albuquerque, you should know about homeowner's associations. These are groups that control what you can or can't do with your home in a particular neighborhood. There are quite a few HOA neighborhoods in Albuquerque, so there's a chance that you will find a home that you like in one of these neighborhoods.

Before you buy any home in a HOA neighborhood, you should research all you can about that particular HOA association. HOA's can be a good thing, as they can make life easier and benefit the neighborhood, if they are run properly. But we've all hear the stories of the badly run HOA with the power-hungry troublemakers who just want to make life difficult.

What can you do to make sure that a particular HOA is right for your lifestyle in Albuquerque?

What is an HOA?

First of all, let's define what an HOA does. Simply put, it sets rules that are hopefully designed to make life in that neighborhood more pleasant for residents. It enforces those rules through various measures.

For example, an HOA may ban parking on the street. It will issue a warning, then a fee for those who violate that rule.

Residents pay a fee that funds the operation of the HOA and goes toward community repairs.

All of this may seem restrictive, but it can be a good thing for residents if operated correctly. An HOA can improve the quality of life in the community and make living there more enjoyable.

But an HOA is not for everyone, and not every HOA is managed well. So you should research as much as you can about any HOA before moving into the neighborhood.

Here are some things you should find out about any HOA.

1. What are the rules?

Knowing the rules of an HOA in advance can save you a lot of headaches in the future. You should also find out what the penalties are for breaking those rules.

Here are some common things to think about:

1. Does the association allow a satellite dish?
2. Can you have pets? If so are there any restrictions?
3. Am I allowed to change the color of my home?
4. Can I display a flag or other such decorations?
5. Am I allowed to have a camper or other commercial vehicle parked in my yard?
6. Is it possible to have a fence installed?

Some HOAs may not allow some or all of these things. Decide in advance what you plan for your home and make sure it aligns with the rules of the HOA. If not, then weigh that into your decision to buy that home.

2. Can you rent your property?

If you plan to buy an investment property to rent out, this is a huge question. HOAs can restrict or outright ban renting out your home.

3. How are changes/decisions made in the neighborhood?

Changes and decisions in an HOA can be made in various ways. And this will affect your lifestyle. You should find out how rules are made and changed.

4. Verify that the home you are going to purchase is currently in compliance.

It is possible to buy a home in an HOA and then discover that the house is already breaking the rules. That means that you will have to make changes immediately or risk being fined or otherwise reprimanded.

5. Learn about the fees.

How much more will you be paying to live in the neighborhood? You should find out:

• How do the costs compare to other communities?
• What is the process required to increase fees?
• How big is the reserve fund of the HOA?
• When was the last time the fees increased? What about the time before that?
• What do your dues cover? Are there extra fees?
• How do special assessments work? How much do they tend to cost and how often do they occur?

There are more things you should know about an HOA before you move in. We can help you determine if an HOA fits your needs when buying your next home in Albuquerque.

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!

1004 El Paseo Street NW, Rio Rancho, NM 87144  $215,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2053 Square Feet

Camino Crossing! 4BDR/2.5BA/2CG. Light, bright & open! REFRIGERATED AIR & SOLAR PANELS! Huge great room opens for entertaining to the kitchen with breakfast nook, pantry, gas stove, tile flooring, granite countertops & beautiful cabinetry! Large secondary bedrooms and laundry room upstairs for convenience. Master suite features a garden tub, separate shower, dual sink vanity & walk-in closet! Gardener? Enjoy the established outdoor garden with fruit trees of Apple, Peach, Nectarine, Fig, Plum, Pear, Asian Pear, Jasmine among lots of other vegetables!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

If you plan to buy a home in Albuquerque and need to save money on furniture and home goods, you can always count on the thrift stores in Albuquerque to come to the rescue. You never know what treasures you'll discover if you look hard enough.

And if you need a way to clear out some of your possessions when you sell your home, they offer a fine way to give to those in need. Some even offer free pickup of larger items. Many thrift stores are connected with charities that help our neighbors in Albuquerque, providing solutions to many problems people here are dealing with. That makes shopping at Albuquerque area thrift stores is a win-win scenario.

Here's a few thrift stores in Albuquerque that are waiting for your discovery.

Thrift Town
3900 Menaul Blvd NE, Albuquerque, NM 87110

This family-owned thrift store features regular specials and even has an app to get coupons for more savings. Reviewers comment about the low prices for high quality items, which include housewares, clothing, decor, and much more. 

The Common Good Thrift Store
2902 Eubank Blvd NE, Albuquerque, NM 87111

This upscale thrift store supports community programs and offers vocational development. They also offer pickup for furniture donations. You can buy a bag of books for just $5, and they offer high quality furniture at affordable prices.

Savers
2620 Carlisle Blvd NE, Albuquerque, NM 87110

At Savers, you'll find a huge selection of housewares, from everyday dishes to fine China, accessories, books, electronics and much more. Proceeds go to support Clothes Helping ids, Inc.

Assistance League Albuquerque
5211 Lomas Blvd NE, Albuquerque, NM 87110

This charitable thrift store features a wide variety of quality, gently-used items, such as clothing, jewelry, shoes, books, sports equipment, electronics, paintings, furniture, home decor, dishes, and housewares.

New Heights Thrift Store
1016 Juan Tabo Blvd NE, Albuquerque, NM 87112

New Heights Thrift Store is a non-profit thrift store that benefits Eagles' Wings Youth Ranch. You'll discover all sorts of treasures, along with a friendly and helpful staff.

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!

1004 El Paseo Street NW, Rio Rancho, NM 87144  $215,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2053 Square Feet

Camino Crossing! 4BDR/2.5BA/2CG. Light, bright & open! REFRIGERATED AIR & SOLAR PANELS! Huge great room opens for entertaining to the kitchen with breakfast nook, pantry, gas stove, tile flooring, granite countertops & beautiful cabinetry! Large secondary bedrooms and laundry room upstairs for convenience. Master suite features a garden tub, separate shower, dual sink vanity & walk-in closet! Gardener? Enjoy the established outdoor garden with fruit trees of Apple, Peach, Nectarine, Fig, Plum, Pear, Asian Pear, Jasmine among lots of other vegetables!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are you thinking about moving into a smaller home in Albuquerque? Many people choose to downsize, and for many reasons. One major reason to downsize is if you plan to retire to Albuquerque and don't need as much room as you had when you were raising children.

Now is a great time to consider if downsizing is the right choice, as home values have been steadily increasing for years. If you've owned your home in Albuquerque for a while, then you've no doubt built equity in it. That puts you in a great position.

Another strong reason that downsizing is a good idea right now is that mortgage rates are expected to remain low throughout 2020 at an average of 3.8% for a 30-year fixed-rate loan.

When you combine growing equity and low interest rates, it makes for an opportune time to consider downsizing.

Using Your Home Equity

For people who are looking to buy a bigger and better home in Albuquerque, the plan is to buy a home and gain equity by making mortgage payments for several years. Over time, home values generally increase, adding to that value. You then can take that built up equity and make a down payment on the larger home.

For those who want to downsize, it works a bit differently depending on your goals.

Some may chose to downsize for reasons other than retirement. Perhaps a younger homeowner may not need as much room if they are single. It may be a way to save money and simplify their lifestyle. The reasons can be quite varied.

If you've built equity in your current home, you may be able to make a huge down payment toward a smaller home, or perhaps even pay for it entirely. Either way, you're in the plus, with little or no mortgage payment.

Those who choose to put their equity toward a new home have the opportunity to make a substantial down payment or maybe even to buy their next home in cash. This is incredibly valuable if your goal is to have a minimal mortgage payment or none at all.

The Power of Low Mortgage Rates

If you still need to get a mortgage when you downsize, then now is the time to lock in the low rates while they last. You should also consider a shorter term loan, as you can pay it off faster. Loans with shorter terms have lower rates than 30-year loans, which makes them a better deal if you can afford the payments.

If downsizing is your goal, now is the perfect time to consider a transition to a smaller home in Albuquerque. With low rates and rising home prices, you're in an ideal position to make downsizing an economic boon.

Sandi Pressley and her team will be happy to discuss your goals, now matter if you want to downsize or upsize your home. Contact us today to find out how you can use your home equity and low interest rates to your advantage.

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!

9209 HENDRIX Road NE, Albuquerque, NM 87111  $185,000

3 Bedrooms / 2 Bathrooms (0 full, 2 half) / 1058 Square Feet

Terrific location! So close to shopping, restaurants & transportation in the NE Heights! Foothill trails nearby! BRAND NEW ROOF! One story 3BDR/BA/1CG with NEW CARPET & NEW PAINT! REFRIGERATED AIR! Updated baths & windows, furnace and water heater! Updated kitchen has room for bkfst table, pantry, sliding door to the patio and all appliances stay! Master bdr/bath has new shower! Light, bright and open with a great floor plan! Large backyard with open patio and room to entertain, walled for privacy. Don't miss this little gem!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Using a storage unit when you buy or sell a home in Albuquerque is usually a helpful idea. You can pack away and store items that you want to move to your new home, but want out of the way during the showing phase of your sale. Then when you're ready to move to your new home, you can load up everything in storage and get it on the road. Here's a handy list of some of the best self storage facilities in Albuquerque to help you with your next move.

A-1 Self Storage

A-1 has 10 locations across Albuquerque and has been locally owned and operated for over 35 years. They offer a month-month lease that's perfect for moving. They frequently offer specials and are affordably priced. Customers rave about the friendly and fast customer service. 

Abe’s Storage
7801 Louisiana Blvd NE Albuquerque, NM 87109

Abe’s Storage offers both climate-controlled and standard storage units at its facility off Paseo del Norte. The property is secured with fencing as well as 24-hour video monitoring. Units can be accessed seven days a week between 7 AM-7 PM. Abe’s Storage often runs specials, including half-off rent for the first two months. Reviewers are impressed with the cleanliness of this facility, as well as the friendly staff and excellent service. 

East Central Self Storage
10801 Central Ave NE Albuquerque, NM 87123

East Central offers a wide range of storage options with over 21 different sizes of units to choose from. Entry to units is provided every day between 7 AM to 9 PM and 24-hour access upon request. A special discount of 10 percent off is offered to all active duty Military, AARP members, and AAA customers. They also pride themselves on their tight security practices.

Fort Knox Self Storage
6650 Edith Blvd NE Albuquerque, NM 87113

With extra wide lanes that provide easy access to their units, Fort Knox focuses on providing convenient storage solutions. They offer advanced security measures with with video surveillance monitoring, keypad gate entry, and security patrols at night and on weekends.

Jen’s Self Storage
300 Menaul Blvd NW Albuquerque, NM 87107

Jen's offers 19 different sizes of temperature controlled units that make a great option for students attending the University of New Mexico.  It offers high-tech security features including cameras, digital keypad access, bright lighting, and perimeter fencing. Clients comment about the superb customer service and the way the staff is dedicated to helping every need. 

North Coors Self Storage
615B Coors Blvd NW Albuquerque, NM 87121

North Coors is an affordable self storage solution as they don't charge administrative fees, so you just pay the posted rental amount. These units are secured by an on-site manager, 24-hour surveillance of the property, and nighttime security patrols. 

Southwest Self Storage LLC
700 98th St SW Albuquerque, NM 87121

This family owned and operated storage facility in has been serving Albuquerque for 15 years. Customers rave about the clean, affordable, and secure storage experience. There are always specials, including 5 percent off for all active Military, Veterans, school employees, and customers over 60 years old.

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!

9209 HENDRIX Road NE, Albuquerque, NM 87111  $185,000

3 Bedrooms / 2 Bathrooms (0 full, 2 half) / 1058 Square Feet

Terrific location! So close to shopping, restaurants & transportation in the NE Heights! Foothill trails nearby! BRAND NEW ROOF! One story 3BDR/BA/1CG with NEW CARPET & NEW PAINT! REFRIGERATED AIR! Updated baths & windows, furnace and water heater! Updated kitchen has room for bkfst table, pantry, sliding door to the patio and all appliances stay! Master bdr/bath has new shower! Light, bright and open with a great floor plan! Large backyard with open patio and room to entertain, walled for privacy. Don't miss this little gem!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

There's some important news for veterans looking to buy a home in Albuquerque with a VA loan. There's been a big change to VA home loans this year. The good news is that veterans will have more borrowing power, but there will be higher fees.

This change went into effect on Jan 1 as part of the Blue Water Navy Vietnam Veterans Act of 2019. This act extends disability benefits to more Vietnam War vets that were exposed to Agent Orange. It also eliminates VA loan limits to vets who have full entitlement to VA loans. Yet it does increase the VA funding fee for all borrowers except National Guard and Reserve members. For National Guard and Reserve members, the fee decreases slightly.

These VA funding fees are a one-time fee that's paid by the borrower instead of mortgage insurance. This is done in case the borrower defaults on the loan, then the VA repays the lender a portion of the loan.

Keep in mind that removing the loan limit doesn't mean you can buy a mansion. The loan still needs a down payment and you still have to meet the lender's credit requirements.

The removal of the loan limits only applies to new loans that started after January 1, 2020.

VA funding fee to increase

The VA funding fee is based on your down payment and if you've had a VA loan before. If you haven’t, it’s a “first use” loan, and if you have, it’s a “subsequent use” loan. You can pay the fee upfront or roll the cost into the loan.

The fee for first-use, zero-down loans is 2.3% of the loan amount in 2020, up from 2.15% for active-duty military and veterans in 2019. The fee for subsequent use loans will be 3.6% of the loan amount, up from 3.3%. These fees will stay in place for two years, return to 2019 levels from 2022 through Sept. 30, 2029, and then drop further after that.

There are other changes made to VA loans due to the new act. Starting in 2020, the fees will be the same for the main branches, National Guard and reservists. Currently, National Guard and Reserve members pay slightly higher fees.

In addition, active-duty service members who have received a Purple Heart are now exempt from the funding fee.

Shopping for a VA loan

You will find that VA loans are not offered by all lenders. And lenders that do offer them vary in their level of experience with them. Sandi Pressley and her team can help you find the right VA lender for your home purchase in Albuquerque.

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!

2612 Espanola Street, Albuquerque, NM 87110  $162,000

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

Just because the holidays are over doesn't mean that the fun has to stop. Now that you've had a chance to rest after all the festivities, it's time to go out on the town in Albuquerque and have more fun this month. Start off your new year with these upcoming events in Albuquerque.

Toughest Monster Truck Tour at Santa Ana Star Center
Sat, Jan 18, 7:30 – 10:30 PM
Santa Ana Star Center | 3001 Civic Center Cir NE, Rio Rancho, NM

Toughest Monster Truck Rio Rancho will feature auto shows, cars, rods, car spare parts & accessories, Bigfoot 21, wild thang, double trouble, and much more.

Albuquerque Comic Con
Jan 17 - 19, 12:00 AM – Sun, Jan 19, 11:59 PM
Hotel Albuquerque at Old Town | 800 Rio Grande Blvd NW, Albuquerque, NM

It's time for comic and sci-fi lovers to unite. Meet comic and movie stars and shop for all sorts of sci-fi and comic items.

The Jim Henson Exhibition: Imagination Unlimited
Sat, Jan 18, 9 AM – 5 PM
Albuquerque Museum | 2000 Mountain Rd NW, Albuquerque, NM

Learn about how Jim Henson and his team of builders and performers brought to life some of the most memorable characters of the 20th century. You'll also get to see material from Henson’s experimental film projects and his early work. On display will be more than 20 puppets, character sketches, storyboards, scripts, photographs, film and television clips, behind-the-scenes footage, iconic costumes, and interactive experiences.

FREE Admission to the Albuquerque Museum
Sun, Jan 26, 9 AM – 1 PM
Albuquerque Museum | 2000 Mountain Rd NW, Albuquerque, NM

Take the kids to the museum for free to get a taste of history, art, and sculpture in a beautiful setting. Free admission applies to the general museum only; special exhibits and events fees still apply.

Supernationals Car Show
Fri, Jan 24 – Sun, Jan 26
Expo New Mexico | 300 San Pedro Dr NE, Albuquerque, NM

Supernationals Car Show conference will display trucks, cars, motorcycles and some wild pieces, wheels and much more.

The Price is Right LIVE
Sat, Jan 25
Route 66 Casino Hotel | 14500 Central Ave SW, Rio Puerco, Albuquerque, NM

Now is your chance to play the world's longest running game show live on stage. You'll have a chance to win big prizes, playing all the classic games from the show, including the bog wheel! Come on down!

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!

2612 Espanola Street, Albuquerque, NM 87110  $162,000

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

If you plan to buy a home in Albuquerque, no doubt you would appreciate some insight into the many fine neighborhoods here. Niche.com is a website that rates, among other things, the best neighborhoods to buy a home in Albuquerque. These ratings are based on a wide range of criteria, including the quality of local schools, crime rates, housing trends, employment statistics, and access to amenities. Here are some of the top neighborhoods in Albuquerque according to Niche.com.

Nob Hill
#1 Best Neighborhoods to Live in Albuquerque
#1 Best Neighborhoods for Young Professionals in Albuquerque
#1 Best Neighborhoods to Raise a Family in Albuquerque

Albuquerque is a city rich in history, dating back hundreds of years. As such, if you're looking to buy a home here, you might come across a home for sale that's over 50 years old. There's certainly nothing wrong with buying an older home, as they offer styles and features from the past that may not be found in newer homes.

When you buy an older home in Albuquerque, there are some things to consider before making a decision to buy.

Plumbing

Many older homes have galvanized steel water piping. This kind of pipe was used originally in the 1970's because it was thought to have a longer shelf life. Now, after several decades, it's been discovered that these pipes can rust inside, leading to dirty water and blockage.

A specialized plumber can help you decide what needs to be repaired with this type of plumbing. New plumbing technology will give you cleaner water and reduce leaking.

Energy Efficiency

Older homes were not built to be as energy-efficient as they are today. Energy was cheaper back then, and insulation was not always used in home construction. If insulation wasn't installed or upgraded since the home's original construction, then you should assess how insulated your home is and make any needed upgrades.

Single-paned windows were also used in older homes, which can add up to a huge heat loss. If you're looking to buy an older home in Albuquerque that still has this type of window, you should decide if you plan to replace them, and how much that will cost if you do so. You may also see if you can negotiate having those windows replaced as part of the sale.

Floor Plans

Older homes in Albuquerque may not have as much floor space as newer homes. The bedrooms in older homes tend to be smaller, and master bedrooms were not as popular. 

If you're considering an older home, but want more open space, you can do so by adding additions, redoing your kitchen, or removing walls to add to your open floor plan. Of course, these improvements will cost a good deal of money. Make sure you factor in these costs when looking to buy an older home in Albuquerque.

Lead

All the way up to the 1970's lead paint was used in the interior of homes. The government banned lead paint in 1978. But even with that ban, lead paint was still used on occasion. Make sure that the house you plan to buy has been tested for lead. If a wall has been painted over, there still could be lead paint underneath the tops layer.

If the paint does test positive for lead, make sure it's removed and repainted by a professional. Professional painters are better equiped to deal with unhealthy paint and make sure it's removed in a manner that won't cause any health issues.