Real Estate Information Archive

Let's say you just bought a new two-story home in Albuquerque. As you unpack upstairs, you realize there's no water coming from the faucets. In fact, there's no running water at all on the second floor. Somehow this went unnoticed when you were viewing the home.

What's even worse is that the owner knew the whole time and didn't disclose that issue. But was the seller required by law to disclose all the issues with the home, including the fact that you have no water running upstairs? And what legal action can you take to have the seller fix any major issues such as this that were not disclosed?

Disclosure Laws in New Mexico for Home Sellers

The state of New Mexico requires sellers to disclose defects in a home to buyers. Albuquerque home sellers are required to provide buyers with a written disclosure of all material defects on the property of which they have knowledge of. This disclosure should be given to the buyer before the contract is signed. Usually the seller's real estate agent will take care of this.

The seller is also required by state law in New Mexico to disclose tax burden information. According to New Mexico Statutes § 47-13-4, the seller must “(1) request from the county assessor the estimated amount of property tax levy with respect to the property and… specify the listed price as the value of the property to be used in the estimate” and “(2) provide a copy of the assessor’s response… in writing to the prospective buyer or the buyer’s broker.” 

New Mexico is somewhat unique when it comes to requiring both of these disclosures. It helps buyers to avoid unpleasant surprises from home defects or having a huge tax bill they didn't expect.

What Are Your Rights as a Home Buyer in Albuquerque?

If you buy a home in Albuquerque and it turns out that the home has issues that were not disclosed, what can you do? Here are some details about the disclosure form that will shed light on your rights as a buyer.

The bottom of the disclosure form contains important language. It states that: “This is not a contract.” That means the seller isn't guaranteeing anything. They are only required to disclose defects that they know about. And the seller is not required to hire a home inspector to check the before checking the “no” box on the disclosure form.

There is also a second important statement on that form: “The law does not protect a Seller who makes an intentional misrepresentation.” In other words, if the seller knows that the AC doesn't work and doesn't disclose that fact, then they could be charged with fraud.

Furthermore, to continue with the AC example, if the contract promises that the AC would be in good working order, and it's not, this would cause a breach of contract.

So if you as a buyer find yourself in this situation, you need to immediately write to the seller, broker, or both, stating the problem and outlining your damages. You can also send a demand letter to the seller, and this may persuade them to settle the dispute. But before you take legal action, you should weigh the cost of litigation against simply fixing the issue yourself. Suing someone is probably going to cost more than fixing a refridgerator.

In the end, when you buy a home in Albuquerque, you have a measure of protection against dishonest sellers. And as a seller, it's a good idea to fully disclose any defects in your home that you have knowledge of, or it could come back to get you later.

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!

12906 ALICE Avenue NE, Albuquerque, NM 87112  $172,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1443 Square Feet

This wonderful townhome has newer carpet & fresh paint in 2019. Refrigerated Air, Custom Brick fireplace and Banco (hearth). The great room is wonderful for entertaining, and an enclosed atrium opening to kitchen (window) and great room, great for dining or planting. Oversized garage, enclosed courtyard makes this your next home. Close to shopping and fwy. Don't wait!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

The weather is getting warmer here in Albuquerque, which makes this week perfect for events coming up this week. You can test your tolerance for spicy foods, spend the day at the meuseum for free, visit polar bears, and search for gold and treasure. 

Round out the month of February with these fun events in Albuquerque:

32nd National Fiery Foods and Barbecue Show

Feb 28 - March 1, 11 AM
Sandia Resort & Casino | 30 Rainbow Rd, Albuquerque, NM

This will litterally be the hottest even in Albuquerque this week. The National Fiery Foods and Barbecue Show is the "largest and most visited show about spicy foods and barbecue in the world" where you'll find virtually any hot sauce and BBQ flavors imaginable.

FREE Admission to the Albuquerque Museum

Sun, Mar 1, 9 AM – 1 PM
Albuquerque Museum | 2000 Mountain Rd NW, Albuquerque, NM

Come to the Albuquerque Museum on Sunday and get in FREE! Free admission is only for the general museum, not special exibits or events.

Albuquerque Gold & Treasure Show

Sat, Feb 29, 10 AM – Sun, Mar 1, 4 PM
Expo New Mexico | 300 San Pedro Dr NE, Albuquerque, NM

Get ready to strike it rich at the GPAA Gold & Treasure Show at EXPO NM. With more than 33 ounces of gold to pan for, $110,000 in prizes including prospecting trips and equipment, several-dozen vendors, new equipment releases, local prospecting clubs and top-notch seminars from industry leaders.

Spiders' Market 2020

Thu, Feb 27 – Sat, Feb 29, 9:00 AM to 5:00 PM
Albuquerque Garden Center | 10120 Lomas Blvd NE, Albuquerque, NM

Fiber Arts sale and Silent Auction in aid of: "Healthcare for the Homeless. Admission is Free.

International Polar Bear Day in Albuquerque

Thu, Feb 27, 12 AM
ABQ BioPark - Zoo | 903 10th St SW, Albuquerque, NM

Bring the family to visit polar bear brothers Koluk and Kiska during International Polar Bear Day. The event will include a keeper talk at 11 a.m. and a polar bear feeding following the talk around 11:30 a.m.

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!

12906 ALICE Avenue NE, Albuquerque, NM 87112  $172,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1443 Square Feet

This wonderful townhome has newer carpet & fresh paint in 2019. Refrigerated Air, Custom Brick fireplace and Banco (hearth). The great room is wonderful for entertaining, and an enclosed atrium opening to kitchen (window) and great room, great for dining or planting. Oversized garage, enclosed courtyard makes this your next home. Close to shopping and fwy. Don't wait!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

If you own a home in Albuquerque, at some point you will probably decide to sell your home. No matter when that time may come, it's important to keep your home maintained to make sure it remains in good condition. Good maintenance habits are not something you can just start at the last-minute before you sell your home, they are something you should start now.

What are some of the most important home maintenance habits to get into?

Maintain Your Filters

If you have an AC system, it's important to keep up with changing the filters. When your filters are clogged, your system has to work harder to push air through the house, and this causes more wear on the system over time.

When buying a filter, pay attention to the rating of the filter you are using, as some are rated to last longer and need replacing less frequently.

Inspect and Clean Your Furnace or Boiler

Along with changing filters in your cooling system, it's also important to keep your heating and cooling system itself clean. Dust and condensation can build up over time, leading to degradation of the unit. Maintaining your cooling and heating system can extend its lifespan by years.

Check Your Water Heater

Water heaters are the unsung heros of home life. We just expect them to work forever unchecked. Then when they go out, it's time to panic.

As you no doubt guessed, you can save yourself some grief and get more life from your water heater with some simple maintenance. It's recommended that you check your water heater every year for issues.

Seals can fail and drains can clog, especially if you have hard water. If you notice even a minor leak or scale build up, have a plumber or water heater repair company take a look to make sure there isn't a bigger issue that could lead to a flooded basement.

Check Your Toilets and Faucets

Your toilets and sinks will be inspected when you sell your home, so make you inspect the plumbing fixtures every six months. If you do find any leaks, you can replace the faulty seal yourself. If the leak ends up being larger, then you may need professional help.

Vacuum Refrigerator Condenser Coils

Refrigerators are another appliance that most people don't think about checking. But the condenser coils on the back can collect dust, and this can affect performance. 

All you need to do is pull the fridge out and clean off the dust. Then you can also take the opportunity to clean behind it and the floor where it sits.

Clean Your Exhaust Hood

Exhaust hoods can get quite dirty, especially if you love to cook. That grease and grime can lead to a fire hazard, so you should make a habit of cleaning it and replacing the filter if it has one.

These are just a few of the things in your home you should keep maintained and in good order before you sell your home in Albuquerque. Visit our blog regularly for more real estate advice and tips on how to sell your home faster and for more money 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 sell your home in Albuquerque, there's good news. Home prices are increasing, not only in Albuquerque, but in 94% of the major metro areas in America. Here in Albuquerque in the fourth quarter, appreciation climbed by 11%. This was higher than the average gain of 6.6% for the rest of the nation during that same period.

According to a report by the NAR, home buyers in general could more easily afford a mortgage due to lower mortgage rates, which on average was 3.76% for a 30-year fixed mortgage. When you combine those two factors, that means that more home buyers can afford to buy a home, even though prices are appreciating. That's a great combination for home sellers in Albuquerque!

First-time home buyers also have good news, as they also saw an expansion in affordability last quarter, according to the same report. The average monthly mortgage payment for first time buyers went down to $1,006, provided they had a 10% down payment.

The Albuquerque housing market forecast ending with the 3rd Quarter of 2021 is also positive. LittleBigHomes.com estimates that the probability for rising home prices in Albuquerque, NM is 82% during this period. If this Housing Market Forecast is correct, home values will be higher in the 3rd Quarter of 2021 than they were in the 4th Quarter of 2019.

The bottom line is that if you plan to sell your home in Albuquerque, now is as good of a time as any. But if you're not ready to sell, there's also a good chance that your home's value will continue to increase over the next couple of years, if predictions hold true. 

What about buying a home in Albuquerque? This is also a great time for Albuquerque home buyers, as this is a good time to buy a home before prices increase. Again, if prices continue to increase, that means your home equity will increase as well.

If you're thinking about buying or selling a home in Albuquerque, call Sandi Pressley and her team today. Their unmatched knowledge of the Albuquerque real estate market will help you benefit from this current market trend, and to make a solid investment to benefit from the growing Albuquerque real estate market.

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!

100 BROADWAY Boulevard NE, Albuquerque, NM 87102  $150,000

1 Bedrooms / 1 Bathrooms (1 full, 0 half) / 730 Square Feet

Urban Living at it's finest! Loft is located in the historic Classroom Building(built in 1935) of the old Albuquerque High School. Large west facing windows flood the loft with natural sunlight. Original wood floors. Kitchen Island, all appliances convey. Open floorplan, 14 foot ceilings, original chalkboard. Full bath. 3 Lockers for storage. Laundry and elevator in building.

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 want to live the ultimate golf lifestyle, you'll love the homes for sale near Albuquerque's best golf courses. The golf clubs and courses in Albuquerque are some of the best in the nation, offering challenging greens to satisify the most avid golfer.

And as you can imagine, the homes in Albuquerque's golf course luxury communities have everything a person could want to get the most from the Albuquerque golf lifestyle.

Here's a few of the top golf courses located in Albuquerque, along with links to find your dream golf course home.

Tanoan Country Club

This stunning golf course features 27 holes, upscale dining and recreational amenities set against the beautiful backdrop of the Sandia Mountains. In addition to challenging courses, you can make good use of the 14 tennis courts, Junior Olympic-size swimming pool, toddler pool and diving tank, and a gorgeous clubhouse that serves as a welcoming centerpiece for member dining, hospitality and socializing.

Find Homes for Sale Near Tanoan Country Club

Sandia Golf Club

This Par 72 Championship Course features 7,752 yards of challenging greens. There's also a full size practice range with a double-tiered teeing area, a 10,000 square foot practice putting green, a practice chipping green with bunker, and a putting green to keep your golfing skills sharp. And after a full round of golf, you can relax and enjoy great food at the Pueblo style Sandia Golf Course Grill.

Find Homes for Sale Near Sandia Golf Club

Puerto del Sol Golf Course

Puerto del Sol is the only lighted golf course in Albuquerque's and features a lighted driving range. This outstanding 9-hole course includes ample greens and tree-lined fairways to keep your game challenging.

Find Homes for Sale Near Puerto del Sol Golf Course

The Canyon Club at Four Hills

Featuring an 18-hole championship golf course, the Canyon Club is situated between the Sandia Mountains to the east and the Rio Grande River valley, offering a stunning scenic backdrop. They also offer several sessions of junior golf camp throughout the summer so the whole family can enjoy the game. The Rio Grande Ballroom is the perfect setting for weddings and events.

Find Homes for Sale Near The Canyon Club at Four Hills

Arroyo Del Oso Golf Course

Nestled in Bear Canyon Arroyo, this 27-hole Northeast Albuquerque course is noted for its interesting topography and a course that's suited well for intermediate to advanced golfers.

Find Homes for Sale Near Arroyo Del Oso Golf Course

Of course, there are other fine homes for sale near the many spectacular golf courses and clubs in Albuquerque. Contact us today to help you find the perfect golf course home for sale today.

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!

100 BROADWAY Boulevard NE, Albuquerque, NM 87102  $150,000

1 Bedrooms / 1 Bathrooms (1 full, 0 half) / 730 Square Feet

Urban Living at it's finest! Loft is located in the historic Classroom Building(built in 1935) of the old Albuquerque High School. Large west facing windows flood the loft with natural sunlight. Original wood floors. Kitchen Island, all appliances convey. Open floorplan, 14 foot ceilings, original chalkboard. Full bath. 3 Lockers for storage. Laundry and elevator in building.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Valentine's Day is just over a week away, so now is the time to make sure you make plans to make it a special day with that special someone in Albuquerque. The Valentine's Day fun starts this week in Albuquerque, with something to please any couple. So make sure to take note of these upcoming Valentine's Day events in Albuquerque and make this a holiday to remember.

That's A Moray! Adults-Only Valentine's Day Dinner & Tour

Fri, Feb 14, 6 PM
ABQ BioPark Aquarium | 2601 Central Ave NW, Albuquerque, NM

Bring your date for a special adults-only dinner and tour at the ABQ BioPark Aquarium. Tickets include admission, a three course meal and a guided tour of the aquarium discussing the romantic rituals of aquatic animals. Now that's a Moray!

Valentine's Day Dinner

Fri, Feb 14 – Sat, Feb 15
Turquoise Museum | 400 2nd St SW, Albuquerque, NM

What better venue to take your sweetheart to than the only castle in Albuquerque - The Turquoise Museum. Between 6pm and 7pm, you and your date can tour around the museum and experience the exhibits as they highlight the uniqueness of turquoise. At 7pm you will enjoy a deliciously prepared candlelight dinner from The Cooperage, serenaded by live music. A truly romantic experience awaits.

Valentine’s Day Sweets & Treats

Sat, Feb 8, 11 AM – 2 PM 
Cost Plus World Market | 3601 Old Airport Ave NW Suite B, Albuquerque, NM

Sample chocolate, berries, candies and bubblies, each one perfect for a romantic rendezvous, a quiet night in or a Galentine’s Day getaway. Plus, they'll share a unique recipe for a Valentine’s Day dessert everyone will love.

My Furry Valentine Pet Photos

Sun, Feb 9, 11 AM – 4 PM
Boofy's Best for Pets | 8201 Golf Course Rd NW C-2, Albuquerque, NM

All critters deserve to be loved, especially on Valentine's Day. Stop by for pet photos starring your furry sweetheart benefiting F.A.T. Katz. Any and all well-behaved pets and humans are welcome. $10

Valentine's Day D&B Albuquerque

Fri, Feb 14, 5 PM – Sat, Feb 15, 12 AM
Dave & Buster's | 2100 Louisiana Blvd NE, Albuquerque, NM

Bring your special someone out to Dave and Buster's for their Valentine's Day Special! Each couple will receive 1 appetizer, 2 entrees and 1 dessert, all of their choice, for the ultimate 3 course meal. You will also receive a free $20 power card to play games together. You can also add on 2 premium drink tickets.

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!

4809 MI CORDELIA Drive NW, Albuquerque, NM  $465,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2765 Square Feet

This spectacular Scott Patrick, updated one-story home is perched high in the desired Andalucia De La Luz community with park & walking trails. This spacious home has soaring ceilings, light filled rooms, a curved wall of windows providing sweeping views of the Sandias, & amazing Sunsets. Beautifully renovated Gourmet kitchen opens to a spacious dining & family rooms. This flowing floorplan is wonderful for entertaining. 4 spacious bdrms or 3bdrm plus an office. Luscious master suite with oversized dream custom closet. The landscaped private courtyard offers more views of the Sandias. Features include gas log fireplace, skylights, generous storage thru-out, good sized laundry room. Convenient access to Coors, Montano, I40 & Cottonwood. Curtains, Ring alarm system & camaras do not convey.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team