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Check Out These Hot "Just Listed" Albuquerque Properties!

by Sandi Pressley

Are you ready to step up to another level of living? Or are you looking for more room for your growing family? These hot albuquerque homes are ready for your new lifestyle! With tons of room inside and out, these fine homes are the perfect choice for the discerning home buyer.

Contact the Sandi Pressley Team today for your exclusive showing. You can also check out all of our listings on our Featured Listings page.

510 Loma Linda Court NE
Rio Rancho, NM 87124

324 PLAZA MUCHOMAS, Bernalillo, NM 87004

Welcome home to this prestigious ''gated-community'' located in the much desired Bosque Encantado. This community is situated west of the bosque and has mature trees, walking trails, is close to restaurants/stores and is only a 30 minute drive to both Santa Fe and the Albuquerque Airport. This exceptional energy efficient home is ''Eco built with IFC construction''; keeps cool in summer/heat in the winter. The specs of the home: 3 bd + 4th bedroom or office, 3 ba and a spacious 3 car garage. The home has luxurious cherry wood floors, accents and cabinetry, tile in the wet areas and carpet in the living areas. Stylish kitchen has a stainless package, granite and a private dining area. This home has too many exceptional features to list; come see for yourself. Schedule a showing today!

Learn More!


5208 RUSSELL Drive NW, Albuquerque, NM 87114

Location + Serenity = 5208 Russell Dr. Welcome home to this updated gem in Paradise Hills. Situated on an oversized lot, enjoy a wealth of perks in this 4-bedroom, comfortable home. NEW Champion Windows (2022), NEW Fireplace High-Efficiency Wood Stove insert (2021), almost new kitchen appliances (2019) including Gas Range, Refrigerator, Dishwasher and Disposal, Mastercool (2016) AND NEWER Stucco & Roof (2016). Get ready for the holidays with room for everyone in the open, updated kitchen with oversized pantry and access to TWO living areas. And then check out the backyard!! This peaceful space is ready for you to enjoy the Inground, Custom, Heated Pool with Automatic Cover (2017), Backyard RV access with RV pad plus 110, a NEW water feature, 2 gas stub-outs.

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Is a Fixer-Upper Really Worth Buying in Albuquerque?

by Sandi Pressley

Buying a fixer-upper, if you buy the right one, can really be a great investment. If the right things are wrong with a house, it can become both your dream home, as well as earn a great deal of equity.

You don't need to be a DIY guru wither. Patience and time are all that's needed.

Here's how you can tell if that home you're looking at fixing up is worth it.

Evaluate the Price

A fixer-upper should be priced as such. Try not to fall in love too quickly with a home that “just needs a little TLC.” make sure you do your research and make sure the price is right for the work needed.

Also look at other homes in the neighborhood to see how much they sold for and how much work they've had and how fancy they are. you don't want to over-improve for the neighborhood, as this could affect the selling price in the future if you decide to sell.

Start Evaluating What Improvements Are Needed

An ideal fixer-upper is a home that offers a lot of opportunities for “instant equity." This means that if your turned around and sold the home right away, you would get your money back.

Some improvement tasks can be as simple as painting or landscaping, which you can accomplish with sweat equity.

Other tasks may require the work of professionals and cash to pay them. It’s those projects you want to carefully evaluate against the home’s price.

Which Hire-a-Pro Projects Add Instant Equity?

Some home improvement projects that require a pro stay at the top of the list of things that will be worth the cost instantly.

Based on data gleaned from the “Remodeling Impact Report” (RIR) from the National Association of REALTORS®’, if these three projects are on your fixer-upper’s list of must-haves, then you may have found your dream equity-builder:

  • New roof
  • Hardwood floors
  • Insulation

While those three are pretty safe bets. Almost any project can be worth it with a fixer-upper if the price is right. For example, a complete kitchen renovation can cost $65,000 and recover only about $40,000 when you sell. But if the fixer-upper is discounted enough, think how amazing it would be to cook in a kitchen you designed yourself.

Evaluate Your Ability to Deal with Disruption

Whether you’re a DIY Jedi or content to let the pros handle the remodel, if your patience is shorter than your potential home’s to-do list, a fixer-upper may not be a good choice.

Renovating a bathroom alone can take two to three weeks. Add hardwood flooring, a new kitchen, and siding, and you’re looking at a whole summer’s worth of rehab.

When considering a fixer-upper, evaluate the limits of your emotional energy as well. Inevitable project pitfalls and delays can be wearing. Only if you have the time, patience, and emotional endurance for a fixer-upper will it be a good fit for you. And only you can determine that.

But if you can budget your time and money, and employ the right fixer-upper strategies, you might find yourself with a double reward: A home that’s worth far more than you paid, and the joy of knowing you helped get it there.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

26 BENDITA LOMA, Los Lunas, NM 87031

Country living retreat on 5 acres w/private drive, solar powered gates, pastures, 3 cov horse pens & turn out, fenced w/gorgeous mtn views! Incredibly maintained! Casual elegance abounds in this custom 4BDR/3BA/3CG home! Lots of natural light! Re-Stucco (2022), Refrig Air, Water Soft, Central Vac! Custom kitchen w/hickory cabs, double oven, 5 burner cooktop, large pantry & bkfst nook bay! Open plan family room w/cozy pellet stove, custom bar & wine rack, picture window w/mtn views! Private master suite w/patio access, dual sink vanity, jetted tub, sep shower, walk-in closet. Guest suite w/its own bath. Finished, insulated 3CG w/9ft garage door, attic w/ladder & utility sink. Relax & enjoy the views, entertain family & friends in the beautiful backyard, large covered patio & hot tub!

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Happy Thanksgiving!

by Sandi Pressley

Sending good wishes to all of you this Thanksgiving! Good food that fills your table, good health as you work hard, and good times with family and friends. May you have all the best delights in life. 

Here are a few things in our lives we can show thanks for this week:

  • Family
  • Clean Air
  • The Beautiful Albuquerque Landscape
  • Children
  • Friends
  • Music
  • Your Job
  • A Good Laugh
  • Health

May the warm glow of autumn surround you as you celebrate the holiday with family & friends.

Happy Thanksgiving!

These Hot Albuquerque Homes Offer Room to Grow

by Sandi Pressley

Are you ready to step up to another level of living? Or are you looking for more room for your growing family? These hot albuquerque homes are ready for your new lifestyle! With tons of room inside and out, these fine homes are the perfect choice for the discerning home buyer.

Contact the Sandi Pressley Team today for your exclusive showing. You can also check out all of our listings on our Featured Listings page.

510 Loma Linda Court NE
Rio Rancho, NM 87124

635 FOXCROFT Loop, Bosque Farms, NM 87068

Welcome home to this rare find in beautiful Bosque Farms! This custom built beauty has it all. Open the front door to find cathedral ceilings, 8ft wood doors throughout, an open floorplan, and a gorgeous gas fireplace. Be ready for the holidays in this chef's dream kitchen with oversized pantry, 6-burner gas range + griddle, huge island and tons of storage. Enjoy dual living areas plus an oversized upstairs loft perfect for everyone's needs. Master suite showcases a relaxing en suite with jetted tub, separate shower and huge closet. Nestled on 0.5 acres, this one has city water and city sewer plus an irrigation well and outdoor storage for all your toys including a 3-car garage with pull-through. Stay cosy inside with radiant heat and refrigerated air. This is life at its finest!

Learn More!


26 BENDITA LOMA, Los Lunas, NM 87031

Country living retreat on 5 acres w/private drive, solar powered gates, pastures, 3 cov horse pens & turn out, fenced w/gorgeous mtn views! Incredibly maintained! Casual elegance abounds in this custom 4BDR/3BA/3CG home! Lots of natural light! Re-Stucco (2022), Refrig Air, Water Soft, Central Vac! Custom kitchen w/hickory cabs, double oven, 5 burner cooktop, large pantry & bkfst nook bay! Open plan family room w/cozy pellet stove, custom bar & wine rack, picture window w/mtn views! Private master suite w/patio access, dual sink vanity, jetted tub, sep shower, walk-in closet. Guest suite w/its own bath. Finished, insulated 3CG w/9ft garage door, attic w/ladder & utility sink. Relax & enjoy the views, entertain family & friends in the beautiful backyard, large covered patio & hot tub!

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

5 Things You Should Know Before Installing Granite Counters

by Sandi Pressley

Interior designers have for years tried to break homeowners' addiction to granite counters. Alternative surfaces have been introduced such as stainless steel, concrete, glass, quartz, wood, and marble, but these surfaces lack granite's luxury look.

Here are five things you need to know if you're getting granite countertops in your Albuquerque home for the first time:

Choose the Right Stone

The term granite refers to granular igneous rocks formed by cooled magma and indigenous minerals. There are many colors of granite depending on where it is quarried, including gray, pink, red, green, blue, and gold. The rarity of the vein of granite can drive up the price considerably, as well as the thickness and the type of fabrication you choose.

Make sure you don't choose granite from a sample when you shop for it. In a sense, you're buying the whole slab, so that's how you should shop. Be sure to look at the whole slabs to minimize waste and to ensure sections are matched. In some cases, you may be able to purchase more than one slab from the same lot. To accommodate large kitchens, they are sliced like toast. When they are placed back to back, they form a butterfly or mirror image.

The beauty of granite is the movement of color and the pattern of streaks and dapples, so choose wisely. A strong graphic pattern will be highly energizing, while a softer color and pattern will be calming.

Measure Carefully

The price of granite is determined by the square foot. Multiply the length and width of each section of your kitchen, such as countertops, backsplash, and an island, to figure out how many square feet you need. Once that has been done, add up each section's square feet.

Measuring involves more than just that. It is important to consider edge allowances, seam allowances, sinks, and other factors. You can tell your salesperson how many square feet you think you'll need, and he or she can direct you to slabs and lots that are large enough to fulfill your order. Once you choose, the salesperson will "hold" the slab with a deposit, until the fabricator can come out to measure exactly.

It is recommended that you install your cabinets before the fabricator arrives. In addition to appliances, if you plan to install a new sink or cooktop, you will have to give the fabricator the measurements of those items as well. Let the fabricator take the measurements. That way the fit is guaranteed.

Be Aware of Slab Thickness

There is a difference in thickness between granite slabs, so expect to pay more for a three-inch thickness than a one-inch thickness. If you choose a thick granite, make sure your cabinets can support that much weight.

The next step is to decide whether you want a bullnose, an ogee, a bevel, or a raw edge. Granite can also look different depending on its finish. Granite that has been polished is glossy and reflective. A matte finish is achieved with honed granite. A leather finish has a textured appearance.

Ask for as Few Seams as Possible

The granite pattern and color should flow as smoothly as possible when doing a large area like a kitchen. Seamless slabs are more valuable than seamed pieces because they're like works of art. Check with the fabricator to see if any parts can be done without seams. Depending on the design of your kitchen, it is sometimes possible.

For a cheaper option, you can choose granite tiles, which have no seams, but they don't add much value to your home. You can also order from scraps the dealer may have leftover from other jobs, but they're only be suitable for small jobs where you don't have to match another granite, such as a powder bath or laundry.

Granite requires care.

Granite is fairly heat-resistant and easy to clean, but you should keep in mind that it's also porous. It can crack, chip, stain and show scratches.

Use a trivet or hot pad instead of directly placing hot pans on the surface. Clean granite only with granite-safe cleaners. Bleach, ammonia products, scouring pads, and anything acidic such as lemon or vinegar should not be used to clean. Don't use dish soap to clean as it can leave a dulling film on the surface. Spills of wine, juice and tomato sauce should be cleaned up quickly.

Some finishes such as polish act as more of a seal, but you can also purchase granite sealers at your local market. Just wipe it on once a year or so to keep your countertops looking their best.

If you're wondering whether your countertop needs sealing, spill some clean water or the surface and cover it with a paper towel. If it leaves a stain, it will go away eventually, but you'll know it's time for sealant.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

4715 SANDPOINT Road NW, Albuquerque, NM 87114

 

Welcome home to this Oppel-Jenkins brick beauty! This versatile floorplan features extensive living space with a gas-lighting, wood-burning fireplace and newer water heater (2019). Be ready for the holidays with the oversized kitchen complete with 5-burner gas range (new 2020) and oversized island. There's room for everyone upstairs with the giant loft and 4 bedrooms. Master suite features a huge walk-in closet, jetted tub and separate shower. Take in the amazing views from your balcony, and enjoy being close to restaurants, shopping and more.
REQUEST MORE INFORMATION

Welcome home to this Oppel-Jenkins brick beauty! This versatile floorplan features extensive living space with a gas-lighting, wood-burning fireplace and newer water heater (2019). Be ready for the holidays with the oversized kitchen complete with 5-burner gas range (new 2020) and oversized island. There's room for everyone upstairs with the giant loft and 4 bedrooms. Master suite features a huge walk-in closet, jetted tub and separate shower. Take in the amazing views from your balcony, and enjoy being close to restaurants, shopping and more.

 

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Cheap and Easy Ways to Improve Your Albuquerque Home

by Sandi Pressley

Are you trying to find ways to improve your home, but can't spend a fortune? Whether you plan to sell your home in Albuquerque, or just want to give it a fresh new feel, you can make a big impact on a budget.

Here's a list of simple and value-packed projects you can tackle to improve the look (and value) of your home.

Projects Under $100

1. Rearrange Furniture. Pull furniture away from the walls and position it at new, more inviting angles. You’ll change the look and dimension of your room.

2. Paint Walls. Choose one wall to paint in an accent color. Select a hue that’s already a part of the décor, one that complements and highlights your pieces.

3. Get Plenty of Greens. Lush broad-leafed plants are easy to maintain indoors and add some life to any room. If you don’t have a green thumb, opt for silk plants instead.

4. Accent Floors. A new rug is the perfect accent. Look for one that has colors that reflects your décor, and then angle it under a coffee table or dining room table.

5. Frame It. Use multiple frames that are of a similar style to create a framed picture collage on the wall. If frames don’t match, faux finish them for a complete look.

6. Light Up Your Room. Lighting dictates the mood of a room. Mix and match lamp bases and shades to create new looks. Looking for another bright idea? Add recessed lighting.

7. Go Faux. Create a whole new look with faux finishing. Washing, leafing, marbling and stripping can be used to change walls or make furniture look fresh.

8. Update Cabinets. New hardware can transform a kitchen. Select matching sets of knobs and pulls to completely change the look and feel of your cabinets.

9. Wallpaper. Wallpaper doesn’t need to go wall-to-wall. Use it with paint to accent borders or choose a single wall to express your style.

Projects Under $500

10. Update Fixtures. New fittings, a fresh vanity and new toilet can completely change the appearance of your bathroom. Choose sets that work well together.

11. Add Moulding. Crown moulding adds a touch of luxury. To install it yourself, buy extra moulding and practice your miter cuts before beginning.

12. Update Flooring. New flooring gives a room a boost from the bottom. Try a natural-looking wood laminate. It’s simple to install and yields extraordinary results.

13. Install a fan. A large, decorative ceiling fan with a light fixture can brighten a room and create a comfortable climate that you control at the touch of a button.

14. Organize Closets. Less clutter will make your entire home feel more spacious. Maximize storage with new shelving and wire organizers so everything is neat.

15. Care For Your Landscape. Add new hedges in the front, trees in the back and flowers that complement your home’s exterior. Little outdoor projects like these can really make you feel more settled in.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

521 ALBINO Road, Corrales, NM 87048

Majestic Custom Tuscan style home with over 3500 square feet, featuring an open & bright floorplan with thoughtful architectural & design details throughout! Grand foyer leads to stunning great room boasting a raised beamed ceiling; floor to ceiling 'stack' stone fireplace; picture windows to enjoy the Sandia Mtn views; & surround sound extending out to covered patio. Gourmet kitchen graced w/beautiful cabinets & granite counters; high end SS appliances including two built-in microwaves; oversized eat-at island; large pantry; & sunny nook. Exquisite custom etched glass doors lead into the formal dining room! Privately situated primary suite is a true retreat with its own east facing patio & spa like en suite. 

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Our Latest Hot Albuquerque Properties!

by Sandi Pressley

Just listed! These latest Albuquerque properties for sale are just what the real estate market has been waiting for. Whether you're looking for the perfect starter home or ready to upgrade your lifestyle, these homes have what you need.

Contact the Sandi Pressley Team today for your exclusive showing. You can also check out all of our listings on our Featured Listings page.

510 Loma Linda Court NE
Rio Rancho, NM 87124

11208 HAINES Avenue NE, Albuquerque, NM 87112

Welcome Home! This adorable move in ready 3 bedroom 1 bath home has been tastefully remodeled. Wonderful light bright open floor plan. Large living area and spacious rooms. Backyard access is a real plus! Enjoy relaxing on the big covered patio with a little mountain view. This NE Heights GEM is conveniently located close to shopping, parks, schools and restaurants. Come see this charming home today!

Learn More!


521 ALBINO Road, Corrales, NM 87048

Majestic Custom Tuscan style home with over 3500 square feet, featuring an open & bright floorplan with thoughtful architectural & design details throughout! Grand foyer leads to stunning great room boasting a raised beamed ceiling; floor to ceiling 'stack' stone fireplace; picture windows to enjoy the Sandia Mtn views; & surround sound extending out to covered patio. Gourmet kitchen graced w/beautiful cabinets & granite counters; high end SS appliances including two built-in microwaves; oversized eat-at island; large pantry; & sunny nook. Exquisite custom etched glass doors lead into the formal dining room! Privately situated primary suite is a true retreat with its own east facing patio & spa like en suite. 

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Investing in Albuquerque Real Estate Using an IRA

by Sandi Pressley

A variety of factors make Albuquerque real estate an excellent long-term investment. A real estate investment, for instance, can serve as a hedge against market downturns as well as inflation. You must, however, understand how individual retirement accounts work in order to invest in real estate with them. 

IRAs are essentially retirement accounts that you can use to save money. When you understand the fundamentals of investing with an IRA, you'll see how easy it is to invest in real estate with one. 

We will explain what an IRA is and why real estate investors might benefit from using one.

The Basics of an IRA

Individual retirement accounts (IRAs) are special accounts that can be used to invest for retirement. You can open several types of IRAs, including a traditional IRA and a Roth IRA. Most people will use a Roth IRA to invest in real estate. 

With a Roth IRA, you pay taxes upfront on all your contributions, so if you invest in real estate, you won't have to worry about taxes on your earnings. With a traditional IRA, you pay taxes upfront when you contribute to the account, whereas a Roth IRA allows you to pay taxes upfront on all your contributions.

Why Should I Invest In a Real Estate IRA?

Diversifying your retirement savings with a real estate IRA is a great idea. Instead of investing all your retirement savings in stocks or bonds, you could put a portion into real estate. In this way, you won't lose everything if the stock market drops or interest rates go up and affect bond prices. 

Real estate IRAs are also advantageous because of their long-term investment horizon. Investing in real estate requires a long-term perspective due to the fact that cycles can last decades. By investing in an IRA, you can ignore short-term fluctuations in the market and focus on the long term. Saving for retirement means you don't have to worry about getting out of the market when it's down.

How To Invest In Real Estate Using An IRA

If you want to invest in real estate with your IRA, you must open a Roth IRA account. You can open the account with any investment brokerage. 

After you open the account, you can use it to invest in real estate in a variety of ways. Depending on where you live and your investment strategy, you can invest in both residential and commercial real estate using an IRA.

If you want to invest in residential real estate, you can either purchase a single-family home or a multi-family property such as a duplex or apartment building. If you’re considering purchasing a residential rental property, you’ll want to know the average rental income for the area where you want to invest. This will help you estimate how much money you can expect to earn from the property. 

Commercial real estate is often more expensive than residential real estate, but it can be a more lucrative long-term investment. To invest in commercial real estate with your Roth IRA, you’ll likely need to partner with a commercial real estate investment firm. 

You can also use your Roth IRA to invest in real estate through stocks in real estate investment trusts (REITs). REITs are companies that invest in real estate, and they often pay healthy dividends.

Albuquerque real estate is an excellent long-term investment for a variety of reasons. For example, real estate is often considered to be inflation resistant and can also act as a hedge against market downturns. These benefits, in addition to the fact that you can use your Roth IRA to invest in real estate, make a Roth IRA an excellent choice for long-term, retirement savings. 

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

510 Loma Linda Court NE
Rio Rancho, NM 87124

3515 COLINA SERENA Place NE, Rio Rancho, NM 87124

Beautifully updated, former Pulte Model home in the highly sought after community of Loma Colorado. This home is tucked in a quaint cul-de-sac and backs to open space. Multiple living spaces to fit into your lifestyle. Flooded with light and open floor plan, it has been freshly updated with designer details. Kitchen features an amazing, large granite island with seating and storage. Ample cabinets and countertops, newer Stainless appliances & a walk in pantry. New hot water heater. Off the kitchen you will find a functional Mudroom w/storage and laundry room. One bedroom on the main level and 1/2 bath. Glass doors open to the backyard, which features a sports court, pergola, mature trees, lawn and the privacy of open space behind it. On the second level you will be greeted with a huge Loft.

Learn More!

510 Loma Linda Court NERio Rancho, NM 87124

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

Get your Morning Inspiration with the Sandi Pressley Team

The Rent is Too High! Now is the Time to Buy!

by Sandi Pressley

The rent is just too high! That's why many people in Albuquerque find that owning a home makes more sense financially and in terms of lifestyle than renting. Even though it's a seller's market and homes may cost more than they have in the last couple of years, owning a home still makes sense over renting. These are some of the top reasons why people choose to buy versus rent in Albuquerque.

It’s Yours - Do What You Want

The biggest advantage of owning your own home in Albuquerque is that you can paint the kid's room however you want, change the flooring from carpet to hardwood, and install a chandelier without asking the landlord permission. Sometimes, you will also increase your property's value by making these home improvements.

Appreciation Benefits

It is easier for many people to understand investing in a home than stocks, since owning a home provides a tangible benefit to their everyday lives. Investing in real estate also has significant financial benefits, which are often more substantial than those of investing in stocks. Since you get the appreciation on the entire home's value, not just the gain on your down payment, a home appreciates more rapidly than stocks.

For instance, if you invested $30,000 in stock and it appreciated 3 percent per year for three years, you have gained $2,782 on top of the $30,000 you invested - and if you sold it, you'd have to pay taxes on that gain. If you buy a $300,000 primary residence with a $30,000 down payment (representing 10 percent down) and it appreciated 3 percent per year for three years, you’ve gained $27,818 on top of your $30,000 invested — and if you sold, you’d be exempt from paying any taxes on that money gained.

Tax Benefits

When homeowners file their tax returns, they can deduct mortgage interest and property taxes. Using the same example of $300,000 home purchase with 10 percent down, a mortgage calculator shows a total monthly housing cost of about $1,731, with $1,231 in principal and interest (using a rate of 3.625 percent), $300 in property taxes, insurance of $67, and mortgage insurance (required when putting less than 20 percent down) of $133. For every $1,731 in total housing expenses, homeowners can deduct $335 in mortgage interest and property taxes, so this results in an after-tax housing cost of $1,396. Owning becomes cheaper or equal to renting due to significant savings from tax benefits.

Rents Rise

With a fixed-rate mortgage, your mortgage payment will never change. Every year, rent will rise for renters in non-rent-controlled buildings or neighborhoods. The majority of the owner's housing payment is made up of mortgage payments, which creates a lot of financial stability. Other costs include homeowner's insurance (though renters do not need insurance the way homeowners do), and that fee can vary year-to-year. Even though owners have property taxes that renters do not, and property taxes are subject to increases with the appreciation of a house, this fee is tax deductible.

Forced Savings

Every time a homeowner makes a mortgage payment, a portion of that payment is put towards paying it down, increasing the equity in the home. Using the example of a $300,000 home purchase with 10 percent down, the average pay-down per month in the first year is $423, and the average in the second year is $438, and the average pay-down per month keeps rising each year. This loan pay-down each month is required as part of the mortgage payment, but it’s the owner being required to invest in their own home, so it’s like forced savings that benefits the owner — whereas the entire portion of a renter’s monthly payment is going to a landlord.

If you feel it’s time to take control of your living situation and own a home in Albuquerque, we can help. Contact Sandi Pressley today to see how you can go from renting to owning a piece of the American dream.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

510 Loma Linda Court NE
Rio Rancho, NM 87124

3515 COLINA SERENA Place NE, Rio Rancho, NM 87124

Beautifully updated, former Pulte Model home in the highly sought after community of Loma Colorado. This home is tucked in a quaint cul-de-sac and backs to open space. Multiple living spaces to fit into your lifestyle. Flooded with light and open floor plan, it has been freshly updated with designer details. Kitchen features an amazing, large granite island with seating and storage. Ample cabinets and countertops, newer Stainless appliances & a walk in pantry. New hot water heater. Off the kitchen you will find a functional Mudroom w/storage and laundry room. One bedroom on the main level and 1/2 bath. Glass doors open to the backyard, which features a sports court, pergola, mature trees, lawn and the privacy of open space behind it. On the second level you will be greeted with a huge Loft.

Learn More!

510 Loma Linda Court NERio Rancho, NM 87124

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

Get your Morning Inspiration with the Sandi Pressley Team

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Photo of The Sandi Pressley Team Real Estate
The Sandi Pressley Team
Coldwell Banker Legacy
10400 Academy Rd. NE Suite 100
Albuquerque NM 87111
505-980-2999
505-263-2173 / 505 293-3700
Fax: 505-212-0729

Quick links to this site are also SandiSells.net or SandiSellsHomes.com