Real Estate Information Archive

What really defines a city? Is it the people? The food? The culture? In the case of Albuquerque, it’s all these things, but even more so, the history of this unique city.  Albuquerque is one of the oldest cities in America. Officially founded 312 years ago in 1706, Native Americans called this place home for thousands of years. Today, Albuquerque embraces that past while looking forward to the future. It’s easy to see into the fascinating past of Albuquerque, through monuments such as the ancient rock carvings at Petroglyph National Monument, the vintage neon signs along Route 66, or the historic Old Town Plaza.

The area that would become Albuquerque has been populated and cultivated as far back as 2000 B.C. European influence on the area goes back to around 1540, when Spanish explorers under General Francisco de Coronado arrived. Colonists were granted permission in 1706 by King Philip of Spain to establish a new city, named in honor of Francisco Fernández de la Cueva, 10th Duke of Alburquerque, Viceroy of New Spain.  You’ll notice that the first “r” in the name has disappeared over the centuries, probably due to the difficulty in pronouncing the name, bringing us the modern spelling of Albuquerque.

The rich history of Albuquerque is evident in the daily life of residents, particularly in the Historic Old Town.  It’s a place where you can get away from the hustle and bustle and step back in time as you go about your modern affairs. Residents and visitors alike enjoy shopping in more than 100 stores and galleries that feature the stunning artwork of the Southwest. You’ll also find world-class exhibits in the Albuquerque Museum, New Mexico Museum of Natural History and Science, and Explora Science Center and Children's Museum.

The architecture of Old Town hasn’t changed much since it was built over 200 years ago. The beautiful plaza still hosts events much as it did so long ago.

The beautiful and amazing past of Albuquerque is just waiting for you to explore and call home. If you’re looking for the ideal home in this historic city, contact us today, or search for a home online. And make sure to check back on our blog twice a week for more great reasons to call Albuquerque home.  And don’t forget to follow us on Facebook for the latest Albuquerque real estate news.

HOT HOME LISTING OF THE WEEK!

10465 Chandler Drive NW, Albuquerque, NM  $260,000

3 Bedrooms/ 4 Bathrooms (2 full, 2 partial) / 2200 Square Feet

Original owner`Pride of Ownership shows thru-out in this meticulously cared for beautifully kept home. 3 bedroom home features 2 master bedrooms each with a full bath. Large 3 car garage room for all of your toys. 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

When it comes to buying a home in Albuquerque, the biggest factor in whether or not it’s possible boils down to income.  And of course, depending on where you live, income and cost of living can vary drastically.  A new study by GOBankingRates endeavored to reveal what the minimum salary would be needed to buy a medium priced home in each state.

The great news is that New Mexico, and by extension Albuquerque, came out as one of the most affordable states to buy a home. GOBankingRates arrived at this conclusion based on the average mortgage payment for each state along with the average APR on a 30-year fixed-rate mortgage.  They then assumed that no more than 30% of monthly income would be spent on housing.  For New Mexico, that figure came out to only $40,960!

Other neighboring states turned out to be quite a bit higher.  You would need to make $55,680 a year to own a home in Nevada. Arizona is higher as well with $50,880.  If you bought a home in Colorado, you would need to make at least $73,600. So it really goes to show that if you plan on buying a house in the Southwest, your dollar goes farther in Albuquerque.

GoBankingRates has this advice,

“Before you buy a home, it’s important to find out if you can afford the monthly mortgage payment. To do this, some financial experts recommend your housing costs — primarily your mortgage payments — shouldn’t consume more than 30 percent of your monthly income.”

Historically, Americans have spent 21% of their income to own a medium priced home.  Today that figure is down to 15%! This all demonstrates that now is a great time to own a home in Albuquerque.

If you're looking to buy a home in the Albuquerque area, feel free to contact us to help you find the right home for your budget and income. You can also search for your dream home now using our convenient home search tool. And make sure to follow us on Facebook for the latest real estate updates for Albuquerque and the surrounding areas.

HOT HOME LISTING OF THE WEEK!

15 Calle Cobre, Placitas, NM  $498,000

5 Bedrooms/ 3 Bathrooms (3 full, 0 partial) / 3200 Square Feet

Exquisite Placitas property nestled on 2.25 AC w/stunning views. Custom home offers functional open floorplan w/radiant heat, soaring ceiling w/viga& latillas, kiva FP, nichos&surround sound thru-out main floor. Back yard offers large deck w/breathtaking views-Perfect for entertaining. 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

There’s one thing you should expect to find in a Southwest city like Albuquerque – amazing Mexican cuisine. Not only will you find some of the best Mexican dishes anywhere, but the best flavors the Southwest has to offer as well.  The epicenter of the explosion of flavors in Albuquerque’s restaurant scene is definitely the many great Mexican restaurants to be found here – over 200 of them to be discovered. 

To get you started on your journey through Mexico’s finest flavors, here’s the top 4 places to enjoy Mexican and Southwest cuisine in Albuquerque.

Padilla's Mexican Kitchen

A staple for Mexican cuisine lovers in Albuquerque for decades, Padilla’s authentic Mexican dishes are certain to please any pallet.  It may always be busy, but the service is fast and friendly.  All dishes are home made, including their mouth watering tacos, enchiladas, tamales, and fresh made Sopailla’s.

The Range Cafe

If not everyone in your party is in the mood for Mexican food, then The Range Café is the perfect solution.  Their motto is “ordinary food done extraordinarily well,” and that motto has been demonstrated since 1992 with an outstanding menu selection from both sides of the border.

Monroe's Restaurant

Another great restaurant in Albuquerque for those who like both Mexican and American dishes, Monroe’s even offers dishes for those watching their carbs and gluten intake.  They also offer a great selection of beverages including the unique agave wine margarita. Also make sure to try their famous chile.

Cocina Azul

Family owned since 2009, Cocina Azul has become of the best new Mexican restaurants and catering businesses in Albuquerque. Created from scratch, their recipes have been handed down through the generations.  Owner Frank Barela, Sr. has recreated all of the dishes he learned to cook as a child in his family kitchen.  You also delight in their award winning chile made only from green chile grown in Hatch, New Mexico.

Join us twice a week on our blog for more great reasons to buy a home in Albuquerque and the surrounding area. And follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

5243 Foothills Trail NE, Albuquerque, NM  $798,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3156 Square Feet

Gated community of the Wilderness! Casual elegance abounds in this Scott Patrick Gold Package custom home. Tons of features include Oversized great room w/stacked stone fireplace, wall of windows! Gourmet kitchen has custom island, pantry, gas cooktop, custom cabinetry, Sub Zero fridge, Wolfe double oven. Private Master Suite on its own wing! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

If you’re getting ready to buy a home in Albuquerque, you need to know as much as you can.  If you’re looking for a mortgage that lets you put down less than 20%, you’ll notice a lot of programs out there that lets buyers purchase homes with less than 20% down. But do you know about Private Mortgage Insurance? Not everyone knows about this insurance policy called Private Mortgage Insurance (PMI). What exactly is this policy and how can it protect you when buying a home in Albuquerque?

Freddie Mac defines PMI as:

“An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.

Once you’ve built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”

As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. Freddie Mac goes on to explain that:

“The cost of PMI varies based on your loan-to-value ratio – the amount you owe on your mortgage compared to its value – and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.” 

According to the National Association of Realtors (NAR), the average down payment last for all home buyers across the nation was 10% and 5% for first time buyers. The average for repeat buyers was 14%. That means that Private Mortgage Insurance didn't stop many home buyers from buying homes.

Here’s an example of the cost of a mortgage on a $200,000 home with a 5% down payment & PMI, compared to a 20% down payment without PMI:

The larger the down payment, the lower your monthly housing cost will be, but Freddie Mac has this advice:

“It’s no doubt an added cost, but it’s enabling you to buy now and begin building equity versus waiting 5 to 10 years to build enough savings for a 20% down payment.”

If you're looking to buy a home in the Albuquerque area and have questions about buying now or saving for a larger down payment, feel free to contact us to help you decide what works best for your situation. You can also search for your dream home now using our convenient home search tool. And make sure to follow us on Facebook for the latest real estate updates for Albuquerque and the surrounding areas.

HOT HOME LISTING OF THE WEEK!

8520 Hawk Eye Road NW, Albuquerque, NM  $260,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3486 Square Feet

Incredible back yard perfect for entertaining family & friends, with Outdoor kitchen, built in grill, tile bar, flagstone open & covered patios, pergola, hot tub, fire pit, garden area, trees, and shrubs! Exceptional home with many custom upgrades including stacked stone accents, light fixtures, wrought iron stairway! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Selling your home in Albuquerque can be a challenge. Many home sellers decide to hire a pro to help them stage their home to attract more buyers.  But if you don’t want to spend that extra money, there’s certainly some helpful tips from the pros that you can do on your own to help your home sell more quickly and maybe even get more money in the sale. Here’s a few tips that can help.

De-Clutter

Having a spotless home - it may seem like a simple concept. But it is so essential to make sure that your home is free from clutter.  Don’t just get rid of daily clutter. Get rid of items you haven’t used in years.  This serves both the purpose of making your home clean, but it will also help the moving process once your home is sold. Your home has to be cleaner than it’s ever been, so make sure you clean with prejudice.  And if you can’t bear to throw certain things away, think about storing them in an outside storage unit (not in the garage or shed as they need to see those clean as well).

Curb Appeal

What do buyers see first when they look at your home? Of course it’s the outside. They say you can’t judge a book by its cover, but when it comes to real estate, that’s not always true. Many times, the outside reflects the inside. Some buyers will just drive on by if the outside looks bad.  So make sure the yard is clean and maintained.  Add a fresh coat of paint to the siding and trim.  Gleaming hardware and a few potted plants also help. Power wash the walkways and driveway. Also think about investing in new roofing if it’s showing its age.

Do a Walk-Through

Try to see your home with new eyes by doing a walk-through from the buyer’s perspective.  You can see not only what needs cleaning, but things that need to be changed. What could be removed to make the room look bigger? Could you change a solid door with a French door to let in more light? Do the kitchen cabinets need new hardware? Even simple changes can make a huge difference.

Other things you can look at in your home are making sure your foyer is clean and clutter free, making the rooms more generic and versatile, find ways to let in more light, cleaning the fridge and organize the cupboards.

HOT HOME LISTING OF THE WEEK!

5243 Foothills Trail NE, Albuquerque, NM  $798,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3156 Square Feet

Gated community of the Wilderness! Casual elegance abounds in this Scott Patrick Gold Package custom home. Tons of features include Oversized great room w/stacked stone fireplace, wall of windows! Gourmet kitchen has custom island, pantry, gas cooktop, custom cabinetry, Sub Zero fridge, Wolfe double oven. Private Master Suite on its own wing! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

If there’s one thing among many that people love about Albuquerque is all the great flavors to be found here.  Usually you think of Southwest or Mexican dishes when you think of New Mexico. But what about pizza? The fact is that Albuquerque has over 100 places to get a delicious pie, along with other Italian dishes and brews.  So get ready for an unforgettable pizza night in Albuquerque! Here’s the top 4 places to get pizza to start you off on your journey to flavorville.

Golden Crown Bakery

If you want more than just great pizza, Golden Crown combines a bakery to offer sandwiches and other baked goods. Being primarily a bakery means that your pizza crust is sure to be amazing, and the reviews prove it. Over the years, Goldne Crown has been featured in magazines such as Gourmet, Condé Naste Traveller, Budget Travel, Alibi, USA Western, IQ, Guia Azul, and Su Casa. They also feature espresso drinks and a variety of brews.

Saggio's

Family owned and operated, Saggio’s prides themselves on their upbeat nostalgic atmosphere that appeals to young and old, along with gourmet pizzas, calzones, sandwiches, salads, pastas and desserts. They also offer a great selection of beer and wine. Your dollar also goes farther at Saggio’s with their huge portions. It’s the perfect place for a large family pizza night.

Farina

Named the #17 Best Pizza Joint in the Nation by TimeOut Magazine, Farina offers a more trendy and hip environment for your next pizza outing. You’ll keep coming back for their artisan pizzas, house-made pastas, and fresh salads. Local art from some of Albuquerque’s best artists adds to the atmosphere. They also stay committed to using only fresh locally sourced ingredients as much as possible.

Old Town Pizza Parlor

Located in old town Albuquerque, the name certainly applies, as they’ve been an Albuquerque fixture since the late 1930’s. Today’s Old Town Pizza is a melding of traditions and a modern vibe, offering the perfect setting for your next pizza night.

Join us twice a week on our blog for more great reasons to buy a home in Albuquerque and the surrounding area. And follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

10465 Chandler Drive NW, Albuquerque, NM  $260,000

3 Bedrooms/ 4 Bathrooms (2 full, 2 partial) / 2200 Square Feet

Pride of Ownership shows thru-out in this meticulously cared for beautifully kept home. 3 bedroom home features 2 master bedrooms each with a full bath. Beautiful backyard with backyard access and rv pad.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are you ready to sell your home in Albuquerque? If so, then now is the perfect time to sell. Typically, Spring is usually the best time of year to sell a home. But there are other factors taking place right now that make selling your home this Spring even more advantageous. Here are the 4 reasons you should sell your home now.

1. Strong Demand

The National Association of Realtors Buyer Traffic Report shows that buyer traffic is strong in New Mexico. Buyers are ready and able to buy right now. And the more buyers on the market means that they are competing with each other to buy homes, meaning a bidding war could happen over your home. In the end, that could mean more money in your pocket.

2. Less Competition

Housing inventory has been declining for the past 32 months, remaining under the normal 6-month supply. That means there’s not enough homes for all the buyers. That’s a good thing for you if you’ve built up equity in your home. But this situation may not last long. The average number of years that homeowners stayed in their homes has been around 9-10 years since 2011. This was due to the previous negative equity that kept many homeowners from selling. Now as values are rising, more will be enticed to sell.

3. The Process Will Be Quicker

The competition among buyers has forced them to do what they can to stand out from the market, which includes getting pre-approved for their financing. This speeds up the selling process and makes it simpler, as buyers will be more likely to know how much they can spend.

4. Time to Move Up

If you plan on moving into a more premium or luxury home, now is the ideal time. Higher priced homes are actually selling for less due to a higher inventory at this price range. So if you’re selling a starter home, your home will sell more quickly and you’ll be more likely to find a premium home.Don’t wait to let the best time for the year slip by to sell your home in Albuquerque. Sell now while the time is ripe. Sandi Pressley and her expert team can help you sell your home in record time and find the home of your dreams in Albuquerque. Find out what your home is worth now with our free instant Market Valuation. And make sure to follow us on Facebook for the latest Albuquerque real estate news.

HOT HOME LISTING OF THE WEEK!

5243 Foothills Trail NE, Albuquerque, NM  $798,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3156 Square Feet

Gated community of the Wilderness! Casual elegance abounds in this Scott Patrick Gold Package custom home. Tons of features include Oversized great room w/stacked stone fireplace, wall of windows! Gourmet kitchen has custom island, pantry, gas cooktop, custom cabinetry, Sub Zero fridge, Wolfe double oven. Private Master Suite on its own wing! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team