Real Estate Information Archive

After about a month of staying at home in Albuquerque, you're probably aching for something new to put on the table. The good news is that many restaurants in Albuquerque are making the best of this situation by offering delivery and takeout options. That means that you can spend a little of yoru stimulous money on some of the best food in town, while helping support the local economy. Why not make tonight special by ordering a feast for your family from one of these fine Albuquerque restaurants?

JC New York Pizza – offering FREE delivery and carryout 
Address: 215 Central Ave NW, Albuquerque, NM 87102
Menu: Selflane.com
Phone: (505) 766-6973
Order: selflane.com

Japanese Kitchen Sushi Bar & Steakhouse – offering curbside pick up and delivery through Selflane. 
Address: 6511 Americas Pkwy, Albuquerque, NM 87110
Menu : Selflane.com
Phone: (505) 872-1166
Order: Selflane.com

Two Cranes Bistro and Brew – offering delivery through GrubHub, Selflane as well as curbside pick-up. Any order over $10 receives a free roll of toilet paper and you can buy 6 rolls for 4.50.
Located: 901 Rio Grande Boulevard Northwest Suite
Phone: (505) 295-3970
Order: grubhub.com, seamless.com, selflane.com, doordash.com

Filling Philly’s Downtown – offering delivery and carryout
Address: 301 Central Ave NW, Albuquerque, NM 87102
Menu: toasttab.com
Phone: (505) 208-0228
Order: ubereats.com, toasttab.com, doordash.com

Christi Maes – is offering curbside and take out
Address: 1400 San Pedro Dr NE, Albuquerque, NM 87110
Menu: christymaes.com
Phone: (505) 255-4740
Order: doordash.com, seamless.com, grubhub.com

Cocina Azul – is offering delivery through Grubhub and carryout
Address: 5916 Holly Ave NE, Albuquerque, NM 87113
Menu: Cocina Azul Menu
Phone: (505) 831-4500
Order: grubhub.com, seamless.com, doordash.com

Rio Bravo Brewing Company – open from 12-8 pm for to go (carryout and curbside delivery) orders as well as 6 Packs, Kegs and New Growler Fills
Address: 1912 2nd St NW, Albuquerque, NM 87102
Menu: riobravobrewing.com
Phone: (505) 900-3909

Monroes – open for carryout, delivery, and curbside. In addition, any purchase of 3 jars of Chile or $25 or more gift card gets you a free roll of toilet paper.
Address: 1025 4th St NW, Albuquerque, NM 87102
Menu: monroeschile.com
Phone: (505) 242-1111

Rock and Brews ABQ – offering carryout and delivery.
Address: 4800 Montgomery Blvd NE, Albuquerque, NM 87109
Phone: (505) 340-2953
Menu: rockandbrews.com

Yanni’s Modern Mediterranean -open for Grubhub and carryout
Address: 3109 Central Ave NE, Albuquerque, NM 87106
Menu: yannisabq.com
Phone: (505) 268-9250
Order: seamless.com, grubhub.com

Two Fools Tavern – doing to go from 11 a.m. to 8 p.m. People can call 505-265-7447
Address: 3211 Central Ave NE, Albuquerque, NM 87106
Menu: Two Fools Menu
Phone: (505) 265-7447

Frontier Restaurant – offering take-out orders placed in-store and orders placed over the phone.
Address: 2400 Central Ave SE, Albuquerque, NM 87106
Menu: Frontier Menu
Phone: (505) 266-0550

O’Hare’s Grille & Pub – carryout available
Address: 4100 Southern Blvd SE, Rio Rancho, NM 87124
Menu: O Hare’s Menu
Phone: (505) 896-0123
Order: doordash.com

El Patio – carryout and delivery
Address: 10500 4th St NW, Albuquerque, NM 87114
Menu: elpinto.com
Phone: (505) 898-1771

The Last Call – Carryout and delivery
Address: 420 Central Ave SW, Albuquerque, NM 87102
Menu: Last Call Menu
Phone: (505) 300-4911

Gino’s Pizza – carryout and delivery
Menu: ginosnystylepizza.com
Phone: (505) 883-6000
Order: ginosnystylepizza.com, slicelife.com, doordash.com, seamless.com, eatstreet.com

Fork and Fig – carryout and delivery
6904 Menaul Blvd NE C, Albuquerque, NM 87110
Menu: Fork and Fig Menu
Phone: (505) 881-5293

Asian Pear – carryout available through phone
Address: 8101 San Pedro Dr NE d, Albuquerque, NM 87113
Menu: Asian Pear Menu
Order: doordash.com
Phone: (505) 766-9405

M’tuccis Italian Restaurant – carryout and delivery
Address: 6001 Winter Haven Rd NW M, Albuquerque, NM 87120
Menu: M’Tuccis Menu
Phone: (505) 503-7327

Five Star Burgers– carryout and delivery
Address: 5901 Wyoming Blvd NE, Albuquerque, NM 87109
Menu: Five Star Burger Menu
Phone: (505) 821-1909

Oak Tree Cafe – carryout and delivery
Address: 4545 Alameda Blvd NE, Albuquerque, NM 87117
Menu : Oak Tree Cafe Menu
Phone: (505) 830-2233

Desert Valley Brewing Company– open for carryout and local delivery
Address: 3700 Ellison Rd NW, Albuquerque, NM 87114
Menu: www.desertvalleybrewing.com/all-day-menu-1
Phone: (505) 899-8494
Order: doordash.com

Chile Chicken Nashville Hot Chicken– open for carryout and local delivery
Address: 3105 Eubank Blvd NE, Albuquerque, NM 87111
Phone: (505) 293-1700

La Reforma – open for carryout and delivery
Address: 8900 San Mateo Blvd NE suite i, Albuquerque, NM 87113
Menu: lareformabrewery.com
Phone: (505) 717-1361

Los Compadres Restaurant– open for carryout and delivery
Address: 2437 Central Ave NW, Albuquerque, NM 87104
Menu: compadresabq.com
Phone: (505) 452-8091
Order: grubhub.com, seamless.com, doordash.com

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.

HOT HOME LISTING OF THE WEEK!

5910 HANNETT Avenue NE, Albuquerque, NM 87110  $208,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1885 Square Feet

Terrific location close to Uptown, shopping, dining, parks, UNM! 3BDR/2BA/1CG! Versatile floor plan with 3 living spaces; combined living & dining space, separate hobby/office/bdr, plus large family room/den with cozy wood fireplace. NEW ROOF (2017-1018) Updated furnace (2017) Newer water heater! Lots of light, skylights, ceiling fans, separate utility room! Kitchen features new gas stove, lots of cabinets, tile floor, breakfast bar and is open to the dining room. Outdoor living space with covered patio and walled for privacy and storage shed.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Many people who plan to buy or sell a home in Albuquerque fear that as we head into a recession, that this will lead to a housing crash. But will that be the case with this recession? The thing to keep in mind is that a recession and a housing crash are two different things.

What is a recession?

The National Bureau of Economic Research defines a recession this way:

“A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”

The Coronavirus restrictions hit the American economy in March. According to Goldman Sachs, JP Morgan, and Morgan Stanley are all indicating that there will be a deep dive in the economy in the second quarter of this year. 

Does that mean we’re headed for another housing crash?

Home buyers and sellers in Albuquerque and around the nation fear that we're going to see a repeat of the housing crash that happened during the Great Recession of 2006-2008. Yet if we look at past recessions, we can see that most do not impact home values adversely.

Doug Brien, CEO of Mynd Property Management, explains:

“With the exception of two recessions, the Great Recession from 2007-2009, & the Gulf War recession from 1990-1991, no other recessions have impacted the U.S. housing market, according to Freddie Mac Home Price Index data collected from 1975 to 2018.”

What are the experts saying this time?

This is what three economic leaders are saying about the housing connection to this recession:

Robert Dietz, Chief Economist with NAHB

“The housing sector enters this recession underbuilt rather than overbuilt…That means as the economy rebounds – which it will at some stage – housing is set to help lead the way out.”

Ali Wolf, Chief Economist with Meyers Research

“Last time housing led the recession…This time it’s poised to bring us out. This is the Great Recession for leisure, hospitality, trade and transportation in that this recession will feel as bad as the Great Recession did to housing.”

John Burns, founder of John Burns Consulting, also had this to say, based on his firm's research:

“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices).”

What does all this mean for home buyers and sellers in Albuquerque? It means that if you had plans to buy or sell a home in Albuquerque before the pandemic, there's no reason to derail your plans. These are uncertain times for sure. The Sandi Pressley Team is adapting to these changing times and are ready to help you realize your real estate goals. Contact us today to see how we can help you continue on your plans to buy or sell a home in Albuquerque today.

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.

HOT HOME LISTING OF THE WEEK!

9214 REDMONT Road NE, Albuquerque, NM 87109  $435,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2695 Square Feet

This beautiful light filled Family Home in a fabulous NE Heights location has been meticulously maintained! Two living areas, cathedral ceilings, bright kitchen with large breakfast area, plenty of cabinets and a pantry. Kitchen is open to the family room. The master suite is spacious and truly a retreat. Enjoy the views from the balcony! Wonderful home and gorgeous landscaped yard for entertaining.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Moving into a new home in Albuquerque may have seemed like a daunting task before the COVID-19 pandemic. But now we have to take extra steps to make sure we stay safe and protect others as well when moving into a new home. 

If you can postpone your move, that would be ideal. But you may not have that luxury. And if you can move without a moving company, that's also ideal. But if you do need to hire movers, what steps can you take to move safely during this pandemic and protect everyone involved?

Before the Move

Contact your movers

Talk to your moving company about the safeguards they are implementing and best practices for moving day. Make sure you're both on the same page so that the move goes mor smoothly.

Buy all of your supplies in one go

You will want to limit how many times you go out to get supplies and how many stores you go to. Try your best to plan for what you need and get it all in one trip. You can use this packing calculator to get an estimate of what you’ll need based on the number of rooms and people in your house. Buy extra if in doubt.

Clean as you pack

Cleaning items before you pack has the dual effect of protecting yourself and others, as well as making less work when you unpack in your new home. Use disinfectant, and if you don't have any, make your own with a solution of one tablespoon bleach to one gallon water.

Finish packing at least 24 hours before the movers arrive

Coronovirus can last up to 24 hours on cardboard boxes. Even though your movers will be wearing gloves, it's an extra precaution to take to finish packing 24 hours ahead of the move and leave boxes untouched.

During the Move

Let your mover know right away if you or anyone in your family is experiencing coronavirus symptoms. 

Letting you movers know that someone is experiencing coronavirus symptoms won't necessarily cancel the move. But it will give your moving company the opportunity to put additional protocols into place to protect their workers. Also let them know if you or a family member are isolating due to exposure, as the same protocols will apply.

Provide hygiene products for your movers. 

Your moving company will most likely have all the hygien products the movers will need. But it won't hurt for you to have extra products on hand just in case, such as soap and paper towels by the sink, and hand sanitizer by the door. 

Don’t use free or recycled moving boxes. 

The virus can live on cardboard for as long as 24 hours, so picking up used boxes from stores or other sources outside your home is not a good idea. Your moving company may be able to provide new boxes, or you can purchase them yourself.

Postpone or cancel your move if you're high risk. 

If you are over 60 or have a pre-existing respiratory and cardiovascular condition, you should reconsider moving if at all possible. 

If traveling for your move, plan accordingly. 

Need to book flights or hotels for your move? Make refundable reservations and/or only work with companies that offer free cancellations. Ask about cancellation policies before you book so that you don’t end up wasting money later on.

Above all, use common sense when you move and stay safe.

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.

HOT HOME LISTING OF THE WEEK!

9214 REDMONT Road NE, Albuquerque, NM 87109  $435,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2695 Square Feet

This beautiful light filled Family Home in a fabulous NE Heights location has been meticulously maintained! Two living areas, cathedral ceilings, bright kitchen with large breakfast area, plenty of cabinets and a pantry. Kitchen is open to the family room. The master suite is spacious and truly a retreat. Enjoy the views from the balcony! Wonderful home and gorgeous landscaped yard for entertaining.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

"I don't need to hire an agent. Why should I pay extra?" This is a statement many home buyers and sellers in Albuquerque have said over the years. Despite the fact that most people have no idea how to buy or sell a home by themselves, some still decide to take on the process on their own, without professional help.

You might think it's self-serving for us to say that you need to hire an experienced real estate agent to buy or sell a home in Albuquerque. Yet now more than ever, there are very solid reasons why you should hire a Realtor. Here are 3 of those reasons:

My services are free for buyers

Many home buyers in Albuquerque don't know that it’s the seller who pays all the real estate fees at closing. This includes not only their real estate broker’s commissions, but the buyers’ agent’s as well.

It is important to have professional representation when you purchase a home. Even if you think you can do it alone, you must remember that there are major steps to the purchase process, many people involved in the transaction, time restrictions, legal requirements and more to consider.

Not many things in life are free, so the fact that you can hire someone to represent you in one of the largest financial transactions you’ll ever be a party to, at no cost to you, is pretty compelling.

Not all FSBO sellers cooperate with brokers

When a FSBO seller agrees to pay a buyers’ real estate agent’s commission, the process is known as cooperating with brokers. Not all FSBO sellers are willing to do so. If you’ve decided to work with an agent in the purchase of a FSBO, ask the seller if he or she is willing to pay your agent’s commission.

You won’t necessarily get a discount

Many FSBO buyers are under the impression that, since the seller doesn’t have to pay an agent’s commission, he or she will be willing to discount the price of the home accordingly. Nothing could be further from the truth.

Consider this: the typical FSBO seller is single and earns less than the area median income. He or she is less likely to offer help with closing costs than home sellers with agents, according to the National Association of Realtors (NAR). Furthermore, the number one reason a homeowner chooses to go it alone when selling is to save the money they would’ve paid in commissions. They are not about to give this money to the buyer of their home.

To sum up, working with a real estate agent, especially someone who has decades of experience buying and selling home in Albuquerque, just makes sense.

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.

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

Most of us are stuck indoors for a while, and for our own good. No doubt you and your family have been finding ways to keep yourselves occupied and out of each other's hair. But there are certainly plenty of things you can do to pass the time that are interesting and productive.

What are some ways you can make your quarantine more interesting in Albuquerque? Here's a few suggestions.

Complete a puzzle. The bigger the better. Take out your old Rubik's Cube and bring back the memories.

Start a journal or blog. These are certainly interesting times to write about. But you can make it about anything you want. Go for it!

Practice that old instrument. Has it been a few years since you played that old guitar? Tune it up and start playing. Just try not to annoy the neighbors.

Write poetry. There are many things to write about here in Albuquerque. Maybe just a short haiku will do.

Learn a new language. Impress your friends by speaking a new language when you come out of quarantine. Download Duolingo, or a similar app, and teach yourself a foreign language.

Meditate. Try lying down with your eyes closed, palms up and while focusing on your breath. Or spend 20 minutes sitting crosslegged and repeat a soothing word to yourself in your head.

Write actual letters to family and friends. Yes, a good old-fashioned handwritten letter will lift their spirits, and yours. 

Learn calligraphy. YouTube can help. You can use your new skill writing those letters.

Put on a soap opera. Mute the sound. Create your own dialogue.

Go through your junk drawers and supply shelves. Organize and get rid of anything you don't need.

Bake those cake mixes you have sitting in the pantry. You know you have a least a couple of boxes. Learn how to make your own frosting if you don't have any.

Knit or crochet.

Try out at-home aerobics or yoga videos. Consider downloading a fitness app with workout playlists.

Take a bubble bath. A few candles and a glass of wine makes it even better.

Coloring books. You know you still love to color.

Go outside and draw. Do you have interesting things outside your home you can draw? Can you see the beautiful Sandia mountains? Test you drawing skills.

There's many more things you can do to stay busy at home. Come back to this blog every week for more ideas to help you deal with the virus, along with helpful real estate article and local Albuquerque news. Visit our other blog as well.

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

"Spring adds new life and new joy to all that is." - Jessica Harrelson

During this difficult and unique time, we hope that you take this opportunity during the Easter season to reflect on the gift of life and love. We will get through this challenge together, and come out of it stronger than ever.

If you're looking for some idea on how to celebrate the holiday with your family while at home, here are some great ideas for the holiday weekend.

Easter Dinner Ideas

7 tips for making the most of the holiday while in quarantine

If you want a unique way to attend a church service, here's an opportinity to safely celebrate with others in Albuquerque while staying safe.

The parking lot at Calvary Church Albuquerque is being transformed into a drive-in theater for two live services on Easter Sunday, so you can celebrate Easter from the safety and comfort of your own car. With video on two huge screens and audio on Star 88, this Easter promises to be as unforgettable as it is unconventional.

Have a Safe and Happy Easter!

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!

10647 SUMMERCREST Drive NW, Albuquerque, NM 87114  $310,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2820 Square Feet

VIEWS of the Sandia Mountains!! Beautiful 4BBDR/3BA/3CG home with 3 living spaces! Light, bright and open floor plan with living room, family room and large LOFT!! REFRIGERATED AIR! NEW ROOF! NEW CARPET! Updated flooring! Under stair storage! Kitchen features upgraded raised panel cabinetry with crown molding, granite countertops, LG appliances, tile flooring, recessed lighting, island, walk-in pantry & breakfast nook! Family room features cozy fireplace. Master suite features double door entry, walk-in closet with built-in shelving, dual sink vanity, sep shower and garden tub. Huge backyard with open patio and pergola covered outdoor space for entertaining! Terrific location close to Cottonwood Mall, shopping, restaurants, Rust Medical Center, schools and parks!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Many home sellers are understandably concerned about a looming recession and how it will impact their ability to sell their home in Albuquerque. But just because there may be a recession doesn't mean your home won't sell. It just means there are things to consider to make sure your home is as competitive on the market as possible. Right now, we are in what's considered a buyer's market, which means you'll need to do mare to attract buyers.

Here are 3 main factors to look at:

Pricing

Strategically pricing your home for sale in Albuquerque means the difference between making and breaking the sale. In a buyer’s market, getting the price right is critical.

While market value is based on the sales prices of similar homes in your neighborhood, in a buyer’s market it pays to be aware of your competition. This means looking at homes for sale in your area online. If you find one that is priced comparable to yours, you’ve found your main competitor. If it’s in far better condition than yours, you have two choices, upgrade your home similarly, or adjust the price of your home. We can help you decide which of these two choices would be more advantageous.

Flexibility

Due to new rules regarding social distancing, you will need to be more flexible when it comes to showing your home. No matter what, you home should always be kept clean. Photos will need to be taken to show your home online, as more people will be using our website to look at your home. And in the event that your home will be shown in person, you need to be able to make it ready to view and have arrangements to be safely away from your home during a showing.

Concessions

Home buyers can become unreasonable when they know they are in the driver’s seat. They may ask for personal property to be included in the sale, such as furniture or play equipment. They may ask for credit for carpet or vinyl replacement even if there’s not a thing wrong with the existing floorcovering except that the buyer doesn’t like the color or pattern.

There is no rule about how to handle these situations, since just about everything in a home sale is negotiable when it comes to concessions. If it will pave the way to a smooth and quick closing, many homeowners are more than happy to accommodate the buyers’ requests, as long as they’re reasonable.

Unfortunately, you may need to sell your home when the market is stacked against you. Get your price right, be flexible and have plenty of patience and you’ll get through it.

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!

10647 SUMMERCREST Drive NW, Albuquerque, NM 87114  $310,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2820 Square Feet

VIEWS of the Sandia Mountains!! Beautiful 4BBDR/3BA/3CG home with 3 living spaces! Light, bright and open floor plan with living room, family room and large LOFT!! REFRIGERATED AIR! NEW ROOF! NEW CARPET! Updated flooring! Under stair storage! Kitchen features upgraded raised panel cabinetry with crown molding, granite countertops, LG appliances, tile flooring, recessed lighting, island, walk-in pantry & breakfast nook! Family room features cozy fireplace. Master suite features double door entry, walk-in closet with built-in shelving, dual sink vanity, sep shower and garden tub. Huge backyard with open patio and pergola covered outdoor space for entertaining! Terrific location close to Cottonwood Mall, shopping, restaurants, Rust Medical Center, schools and parks!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

As our world is changing so rapidly with the spread of the COVID-19 virus, many people are wondering how long this will last and what impact it will have on the economy. As such, many who were thinking about buying a home in Albuquerque may think they should put that goal on hold. But should you suspend your home search now? The short answer is "no." Here's why.

Despite all the unsettling changes happening and the effect it's having on the economy right now, it will very likely be followed by economic expansion like we’ve seen play out in the U.S. economy many times over.

What are experts saying about an economic rebound? It starts with a forecast of U.S. Gross Domestic Product (GDP).

According to Investopedia:

“Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of the country’s economic health.”

Based on the GDP, three leading financial institutions state that the economy will see a projected sharp decline followed by a steep rebound in the second half of this year. A recent study from John Burns Consulting also notes that past pandemics have also created V-Shaped Economic Recoveries, and they had minimal impact on housing prices. This certainly gives hope and optimism for what is to come as the crisis passes.

Keeping this history in mind, many business owners are being optimistic about the economy making a strong return. A recent survey by PricewaterhouseCoopers shows that 66% of business owners feel that their companies will return to business as usual within a month of the passing of the pandemic. A solid 90% feel that within 1-3 months, things will be back to normal. 

From expert financial institutions to business leaders across the country, we can clearly see that the anticipation of a quick return to normal once the current crisis subsides is not too far away. 

With these things being considered, if you had been wanting to buy a home in Albuquerque, there's no reason to stop your progress on searching for a home.

One thing you can do to stay on top of your home buying process is to get pre-approved for a mortgage, which you can do from home. Getting pre-approved will hep you get a better idea of what you can afford so that you can move forward with confidence in buying a 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!

5910 HANNETT Avenue NE, Albuquerque, NM 87110  $208,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1885 Square Feet

Terrific location close to Uptown, shopping, dining, parks, UNM! 3BDR/2BA/1CG! Versatile floor plan with 3 living spaces; combined living & dining space, separate hobby/office/bdr, plus large family room/den with cozy wood fireplace. NEW ROOF (2017-1018) Updated furnace (2017) Newer water heater! Lots of light, skylights, ceiling fans, separate utility room! Kitchen features new gas stove, lots of cabinets, tile floor, breakfast bar and is open to the dining room. Outdoor living space with covered patio and walled for privacy and storage shed.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team