Real Estate Information Archive

You've likely heard a lot about all-cash offers if you've ever watched a real estate show, especially one that focuses on the luxury market. All-cash offers are becoming increasingly popular because there are few properties on the Albuquerque real estate market, and bidding wars are rampant.

What that means may confuse you.

An all-cash offer contains a secret that you may not know about - you can still get a mortgage.

Cash Offers: The Basics

All-cash offers mean that a buyer will pay for the home in full at closing. Consequently, the buyer can show they are able to perform the transaction based on their bank account. There are fewer chances for something to go wrong along the way with a cash offer, which makes it appealing to a seller.

The risk of selling to someone who plans to get a mortgage is greater. From the seller's viewpoint, the less financing a deal requires, the better.

A prospective buyer who is not financing their home will use a cashier's check or electronic transfer.

As cash purchases do not involve a lender, the closing time is usually shorter. The process can usually be completed in two weeks. Within those two weeks, any liens can be cleared, paperwork can be prepared and insurance can be procured.

An average closing time for a mortgage-financed purchase is 30 days. However, the timeline may vary from 45 to 60 days from signing to closing date.

How to Buy a Home With Cash

In the process of buying a house all-cash, the following steps usually occur:

Upon accepting the buyer's offer, a Purchase and Sale Agreement is then drafted. This is called going under contract.

Afterwards, funds must be verified. In the case of a seller, it's vital that the buyer actually has the cash they claim. One to two percent of the sales price is usually required as earnest money. A bank statement or investment statement may be required as proof of funds. Your real estate agent can assist you with this.

Title companies check for liens and arrange title insurance. A title company ensures the transfer of ownership occurs correctly on closing day. In addition, an escrow company handles the transfer of funds and closing documents. Escrow companies also handle legal paperwork.

Depending on what the buyer finds during the inspection, the buyer may have the option to renegotiate a lower sale price or request repairs.

The closing documents must then be reviewed and signed. The amount of paperwork you'll encounter is considerable even when the transaction is all-cash.

Are You Still Competitive With a Mortgage?

It is true that buyers prefer cash buyers, especially right now in a seller's market. You can still be considered all-cash with a loan.

A decision-now approval is offered by some lenders. Although it's not cash, the benefits may be similar for a seller because of the preapproval. Therefore, the loan will already be funded, and the lender can verify the remaining amount of the sales price.

The buyer can then remove financing contingencies from their offer without worrying about losing their earnest money since they've already secured a mortgage.

It's possible to become a strong buyer by doing something like this, depending on the lender's offer.

Finally, you may want to shop around if you're considering this approach because not all lenders offer upfront underwriting.

HOT PROPERTY OF THE WEEK!

508 ORTEGA Road NW, Los Ranchos, NM 87114

Plenty of room for your HORSES & HORSE POWER! Gorgeous approx 1.26 acre NV Village of Los Ranchos Horse Property. One of a kind, rare opportunity to own private gated valuable Sub-dividable lot. 4BD/3.5 BA renovated 2015 w/hardwood oak floors, 2015 roof, HVAC, HWH, windows, insulation, refrigerated air/heat throughout home. 1000sf grand sunroom w/ tile setting the stage for peace & relaxation. Recessed Lighting & Skylights! New SS appl! This home shines like a diamond! Not incl in TSF Finished 1979sqft heated/cooled 6 Car Tandem Garage/Shop w/220! The possibilities are truly endless.1100sf Horse barn, plus storage, 2 patios, circular drive w/50+ trees & fenced lawn.1 mile to Alameda Open Space, trails & Rio Grande River, & 15 mins to Airport. Perfect for entertaining. RV parking/NO HOA!

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.

Whether you're looking to make more room for your expanding family (including your horses), or want to upgrade your lifestyle, these stunning homes will offer all that and so much more. And you can't beat the the amazing location and stunning views these homes offer. Don't wait to shedule your exclusive viewing!

Feel free to contact Sandi Pressley and her team at 505-263-2173 to get more information and schedule a viewing of these fine homes. You can also check out all of our listings on our Featured Listings page.

218 SKYLAND Boulevard, Tijeras, NM 87059

This wonderful home boasts, Newer windows, newer carpet, newer tile! Newer stainless steel appliances. (Wash & Dryer, Refrigerator all convey as is) Newer water heater, new septic system 2018, newer blinds throughout, Newer metal roof, newer energy efficient heater! Out-Buildings for horses, goats chickens. Home has an attached mother in law suite (built in 2004) w/2 bedrooms, kitchenette, and huge family room, could be Air BNB, office, the possibilities are endless! radiant heat (in in law quarters), 3/4 bath w/handicap access) complete with own entrance, private patio area. Beautiful vigas, tongue and groove ceiling, oversized garage w/workshop area, and so much more! only 10 miles once exit off Cedar Crest exit!

Learn More!

508 ORTEGA Road NW, Los Ranchos, NM 87114

Plenty of room for your HORSES & HORSE POWER! Gorgeous approx 1.26 acre NV Village of Los Ranchos Horse Property. One of a kind, rare opportunity to own private gated valuable Sub-dividable lot. 4BD/3.5 BA renovated 2015 w/hardwood oak floors, 2015 roof, HVAC, HWH, windows, insulation, refrigerated air/heat throughout home. 1000sf grand sunroom w/ tile setting the stage for peace & relaxation. Recessed Lighting & Skylights! New SS appl! This home shines like a diamond! Not incl in TSF Finished 1979sqft heated/cooled 6 Car Tandem Garage/Shop w/220! The possibilities are truly endless.1100sf Horse barn, plus storage, 2 patios, circular drive w/50+ trees & fenced lawn.1 mile to Alameda Open Space, trails & Rio Grande River, & 15 mins to Airport. Perfect for entertaining. RV parking/NO HOA!

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.

Buying a home in Albuquerque is a great opportunity at the moment, with mortgage rates lowest in several years. In addition to lower monthly payments, a lower interest rate also means that more people can qualify to buy a home. When you apply for a loan, the current interest rate is locked into your loan. But what happens if the rate falls further once it is locked in? What are the chances of getting the lower rate?

Lenders take rate locks seriously. You are reserving a rate when you lock it in with your lender. If rates rise before your closing date, you are protected. Most lock periods are between 15 - 30 days in length. It is crucial that the lock period last as long as the duration of your transaction. 

The lock protects you in case the rate increases. But what if the rate decreases during that time? Would you be able to get the lower rate?

Even if rates fall just a little, such as by less than 0.125%, it won't make much difference to change the rate in your agreement, nor will your lender be very motivated to make the change. Your lender might agree to lower your rate if it decreases by more than 0.25%. 

Changing lenders to get a lower rate is not a problem in advance of the closing date. This will allow you to have a lower rate. However, you also have to submit all your documents all over again to a new lender, including paystubs, tax returns, and bank statements. 

Your lender should consider lowering your agreed rate if rates fall by more than 0.25%. For a lender, it's better to do so than lose your business. Since both of you have worked hard to make the deal work, it benefits both of you.

Also, don't expect to get the absolute lowest rate when you make the request. There may also be a small fee to make the change. In the end, do the math and decide if requesting a lower rate works out for the best. It never hurts to ask!

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.

2021 Balloon Fiesta Live!

Oct 2 – 9
Balloon Fiesta Park
Albuquerque, NM

Balloon Fiesta is held in October due to the wind conditions known as the ‘Albuquerque Box’, which can take the balloons on a tour of the river valley, the surrounding mountains and bring them back to the 80-acre launch area in the even bigger Albuquerque Balloon Fiesta Park.

The calendar includes a dawn patrol, when the crews lift off in the dark and come into view with the early sun; laser and firework shows; flight competitions; musical entertainment and the dramatic mass ascension when almost 600 balloons are launched over two hours. Though it is not cheap, event-approved rides can be organised. More than 860,000 people and 670 pilots are expected to attend the nine-day show.

Harvest Festival

Sat, Oct 2, 10 AM – Sun, Oct 3, 4 PM 
ABQ BioPark
903 10th St SW, Albuquerque, NM

The ABQ BioPark is excited to host the Harvest Festival for two fun-filled days at the Botanic Garden in October. Explore a variety of landscapes throughout the Garden, listen to live music, enjoy festival treats and local brews, and celebrate the beauty of the season.

Disney On Ice presents Let's Celebrate

Sat, Oct 9, 3 – 7 PM
Rio Rancho Events Center
3001 Civic Center Cir NE, Rio Rancho, NM

The celebration of the century comes alive in Disney On Ice presents Let’s Celebrate! This monumental ice-skating spectacular skates into Albuquerque this Fall playing Rio Rancho Events Center for six fun-filled performances from October 8–10, 2021. After the pandemic pause, this tour will be the first Disney On Ice shows returning to New Mexico in over a year and half!

New Mexico United vs. Rio Grande Valley

Sat, Oct 9, 5 – 10 PM
Isotopes Park
1601 Avenida Cesar Chavez SE, Albuquerque, NM

The New Mexico United 2021 Season is here!

Tickets for regular season matches will be available on a limited basis, dependent upon county, state, and federal COVID-safe protocols, and best practices, and will be released a few matches at a time, to allow United to adjust to the latest COVID-safe protocols as they develop. Those tickets will be available in waves, with each wave capped to provide equitable access for everyone. In addition, tickets will be sold in pods of varying sizes to allow for proper social distancing.

For the most up-to-date ticketing information, please contact New Mexico United directly.

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.

A neighbor with an iron fist and an intolerance for all things fun can absolutely ruin buying a home in Albuquerque. ...or who makes all the noise. There are a number of types of neighbors you hope not to have. 

The Neighbors from Hell Instagram page contains cautionary tale after cautionary tale, and a few laughs at the same time. Although you can't avoid every nuisance in a neighborhood, you can prepare for it by doing your research on the areas in Albuquerque you're considering.

You can take these steps to diffuse or rectify a tense or problematic situation if you end up with a neighbor who is worrying.

Lend an ear

Perhaps your neighbor's grumpiness is a cry for help. A little kindness can sometimes tame a grouch, even if the person doesn't deserve it. 

Lend a hand

Are your neighbors' lawns overgrown, their shutters peeling, or their siding dirty? Despite the fact that you may assume they're neglectful, there may be a larger issue at play, The Spruce reported. “The family may be dealing with sickness, or their lawnmower broke down and they can't afford a new one.”

Don’t be afraid to stand up for yourself

It is sometimes necessary to show strength to someone who isn't used to facing a formidable foe. There may be a better way, but it might require you to get in the muck in order to achieve your goals.

Get support

Rentberry noted that joint efforts lead to more success. “If it’s likely that you’re not the only one unhappy about your neighbor’s behavior, you should check if someone else is ready to side you. This point is especially important if you decide to contact local precinct or file a complaint in court. In this case, quantity matters. The more people share your opinion, the more chances to win you have.”

Get the authorities involved

The situation may require escalation if it involves legal violations or being intimidated or harassed.

Steer clear of danger

“Sad but true, some neighbors are not worth getting to know well—but it’s still good to know something about their dislikes and boundaries, so you don’t cross them,” said HGTV. An elderly Ohio man named Charles Martin shot to death a 15-year-old boy in 2006 because he walked across his meticulously mowed lawn in a suburb of Cincinnati, Ohio.

How to handle them: Martin—who is in jail—may have been destined to snap no matter what his neighbors did or didn’t do, but he was well known for the care he lavished on his lawn, and in theory, if that 15-year-old had been more aware of the kook’s devotion to his lawn, it might have kept him from going anywhere near the home.

Nightmare neighbors are just sometimes unavoidable. But with these above tips, you may have a chance of making your situation more livable.

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.

Are you looking for a mid-priced Albuquerque home packed with features? Our latest listings offer everything you need in a modern home, with newer constrcution or tons of upgrades. These homes are certain to sell fast, so make sure you schedule a showing today.

Feel free to contact Sandi Pressley and her team at 505-263-2173 to get more information and schedule a viewing of these fine homes. You can also check out all of our listings on our Featured Listings page.

6713 PROMENADE Avenue NE, Albuquerque, NM 87109

Beautiful '4 Year Young' Abrazo Home! Tucked away in the desirable Santa Monica neighborhood, this home includes lots of builder & owner upgrades! Featuring an open & light floorplan, wood look tile floors, tray ceilings, remote control shutters, built-ins, & more! Must see 'Seller's Feature' sheet included in MLS! Kitchen appointed w/gorgeous granite counters, Stainless Steel appliances, eat-at island, large pantry, & opens to family dining & great room. Owner's Suite, privately situated privately at the back of home, features spa like en suite & huge walk in closet. Flex room currently converted to closet, could be 4th bedroom/study. Professional landscaping front & back yards; both covered & open patio areas in backyard; great for entertaining. Easy access to I-25, shopping, & more.

Learn More!

4100 SKYVIEW CREST Road NW, Albuquerque, NM 87114

Price reflects $248,000 in upgrades in the past 7 months! Seller has invested in upgrading & improving this home with the best of the best. This property is exclusive and exquisite. Upgrades include: New (TPO ROOF) 50 year industrial grade 80mil TPO Carlise Syntec roof system. New (PAID SOLAR) 30 year low profile solar array not visible from ground level provides enough energy to waive off future energy bills -- $4000 to $5000 annual savings. New (SWIM SPA) premier Marque aquatic training vessel for endless swimming with a number of other aquatic fitness features. New (HOT TUB) premier Marque seven seat therapeutic spa. See MLS Features & Updates List for a full list of many more updates. 3 minutes from Intel & easy access to shopping, restaurants, schools, and major thoroughfares.

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.

Fall is here and nothing brings in the season more than Albuquerque's pumpkin patches and corn mazes. You can even make your experience more frightening with a haunted farm or corn maze, if you dare. Check out these fun farm attractions and make this autumn in Albuquerque one to remember.

Galloping Goat Pumpkin Patch

Rio Rancho Event Center
3001 Civic Center Circle NE
Rio Rancho, NM 87144

Admission:
Kids – $6.00
Adults – $8.00
Seniors/Military/1st Responders – $6.00

The Pumpkin Patch is located in Rio Rancho, New Mexico. It’s a family-friendly event open every day in October that features Fall fun such as a 20’ X 40’ corn pit, harvest maze, tricycle track, playhouses, a roping arena, pumpkin bowling, duck races, mud pie kitchen, putt-putt golf, football toss, cornhole, basketball shoot, Fall decor, and of course PUMPKINS! Plus, each weekend the Pumpkin Patch will also have a Petting Zoo and a Paintball Target Arena.

Attendees can select their very own pumpkins to purchase from the on-site Pumpkin Patch with over hundreds of choices including specialty pumpkins and gourds, varying in size, color, and shape. Also available for purchase are Fall decor items such as corn stalks, hay bales, and corn bundles.

Rio Grande Community Farm

1701 Montaño Rd NW, Albuquerque, NM 87107

The Maize Maze is BACK for 2021! October 23rd and 24th

Rio Grande Community Farm is proud to announce that they will be hosting the Maize Maze again in 2021. This year’s event takes place on the weekend of October 23rd and 24th, with thier annual FarmStrong 5k and Fun Run, live music, a beer garden, food trucks, vendors, games, hay rides, Pick Your Own (PYO) Sunflowers, and more. This year they are delighted to partner with our neighbors at The AgriNature center, who will be hosting educational workshops.

McCall's Pumpkin Patch

2 McCall Ln, Moriarty, NM 87035

HAUNTED BARN

The McCall's old cattle barn and meat processing facility have been closed for years.... however, the rumor is that neighbors have seen activity around the barn late into the night and have heard strange sounds coming from animal, human???....

HAUNTED CORN FIELD - FIELD OF SCREAMS

The past does not die easily. This haunted cornfield is tormented by the ghosts of many of Farmer McCall's victims. Their desire is to have their story heard and, unfortunately for you, that often leads to new victims joining their ranks.

Come to the farm before your scheduled haunt time or stay late to enjoy food, music, entertainment and other haunted games and attractions.

Tickets for these activities may be purchased at the farm.

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.

Are you beginning to feel that you chose the wrong lender to buy your Albuquerque home?

For whatever reason, you may feel that the mortgage lender you chose did not suit you. Perhaps you selected the wrong loan officer. In mortgage lending, the reputation of the staff is crucial. There is nothing like a lousy loan officer to make a prospective borrower regret their choice of the mortgage company they're working with.

Consider these things when switching mortgage lenders.

You are not under any obligation to continue working with the loan company, even after you have submitted all your documentation and completed the loan application. If you want to pull the plug, you can do so whenever you like. Perhaps you assumed that the rate you locked in was stable, but market rates exceeded your expectations. Perhaps you feel like it's impossible to get in touch with your loan officer. Then why not turn around?

You should know that the lender cannot send your loan documentation, including pay stubs, tax returns, bank statements, and similar documents, directly to the new mortgage lender. You must apply directly with the new bank for a loan if you switch banks. Exactly like the first bank, the bank will give you everything you need for closing after you've completed your application. In addition, the documents are probably too old to be useful. The credit report and pay stubs must have been dated within 30 days. Switching midstream will delay the approval of your loan.

The old appraisal won't follow you as well, even if you paid for it earlier. It is the lender who now owns the valuation, even if you paid for it. This report will have the lender's name on the front, not yours. Occasionally, you can get a 'retype' appraisal, in which the lender's name is changed after the first appraisal, but that's unusual. A new mortgage lender will order a new appraisal from an appraisal management company.

There is a possibility that the rate they locked in at is now higher than the rates offered by other lenders. If you are looking for a better rate, your current lender may want the opportunity to quote you a new rate to retain your business. Getting the lowest rate may not be possible, but you will get close.

The process of switching lenders is basically the same as the first time you did it. Do your best to work with the new loan officer and be patient.

HOT HOME LISTING OF THE WEEK!

7416 Blue Holly Court NE, Albuquerque, NM 87113  $695,000

4 Bedrooms / 4 Bathrooms (4 full, 0 half) / 3520 Square Feet

Beautiful family home in La Cueva and North Star distrist. Floorplan features 4 bedrooms and 3 full baths, formal dining, breakfast nook, plus large bonus/game room with wine cooler and loft. Kitchen updated with granite countertops, island, double oven and pantry. Romantic mastersuite with gas fireplace, separate tub and large walk in closest. Tons of out door spaces includes a courtyard, two covered balconies, a covered patio and private parklike backyard with Gazebo that already has water and electric. Mountain views and located on a cul da sac finish out this lovely home.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

There's a home for every budget with our hot Albuquerque properties! Whether you're looking for your first home, wanting to upgrade, or looking for a more luxurious life, these fine homes are ready for your inspection. These homes are certain to sell fast, so make sure you schedule a showing today.

Feel free to contact Sandi Pressley and her team at 505-263-2173 to get more information and schedule a viewing of these fine homes. You can also check out all of our listings on our Featured Listings page.

7416 Blue Holly Court NE, Albuquerque, NM 87113

Beautiful family home in La Cueva and North Star distrist. Floorplan features 4 bedrooms and 3 full baths, formal dining, breakfast nook, plus large bonus/game room with wine cooler and loft. Kitchen updated with granite countertops, island, double oven and pantry. Romantic mastersuite with gas fireplace, separate tub and large walk in closest. Tons of out door spaces includes a courtyard, two covered balconies, a covered patio and private parklike backyard with Gazebo that already has water and electric. Mountain views and located on a cul da sac finish out this lovely home.

Learn More!

6601 TAUTON Road NW, Albuquerque, NM 87120

Welcome to this move-in ready home. Soaring ceilings , bright and open floorplan. Two living spaces separated by a 2-way fireplace with gas starter. Spacious kitchen, ample cabinetry, counter tops & Pantry. Newer dishwasher and refrigerator. Opens to a breakfast nook and sliding doors to covered patio outdoors. Formal dining room could be an office/hobby room or workout area. . Primary bedroom is in rear of home and is separated from 2 front bedrooms. Primary suite offers a bay window with seating, walk-in closet, oversized shower, separate garden tub & 2 sink vanity. Covered front porch & huge covered rear patio! New block wall added in Spring of 2021.

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11200 ELENA Drive NE, Albuquerque, NM 87122

Welcome to North Albuquerque Acres This stunning, light-filled home is surrounded by Pines and forever views of the Sandias. Three balconies with views off to the mountains and city views. 2 spacious living areas, 5 large bedrooms, an office plus a second living area that can be used as a bedroom, gameroom, home schooling, it is a wonderful flex space. From the living room on 1st level enjoy magnificent views of the Sandias. Open kitchen offers ample cabinets and counter space, breakfast nook, and then onto the formal dining room with a fireplace.A Guest room is located on the 1st level and a full bath. The Primary suite is nicely separated from the other bedrooms. Oversized with space for a sitting area, more views of the mountains.

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.