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How Are Home Prices in Albuquerque Affected by Inflation?

by Sandi Pressley

Inflation has been in the news quite a bit lately. A number of categories saw significant increases, including cars, gas, food and restaurant meals. Compared to last year, core inflation increased 4% in September.

Because of COVID-19, factories in Asia continue to close and operations at U.S. ports are slowed. High demand and significant bottlenecks in the supply chain will keep inflation high for a long time.

What effect does this have on Albuquerque's real estate market?

The Inventory Issue

There has been a bubble in everything, not just the housing market, because interest rates have been kept so low for so long. Due to limited inventory, there is also inflationary pressure on the housing market. The industry faces a variety of problems that contribute to limited inventory levels.

The first problem is that many homeowners aren't putting their houses on the market. This is due to factors like lockdowns, but also the fear they won’t be able to find a new one to buy.

There are construction delays due to supply chain bottlenecks as well.

Albuquerque home buyers are often having to put in bids well above asking to get properties, creating a frustrating situation, to say the least.

Other Inflationary Effects On Real Estate

There are other ways inflation can affect how much you pay for a home in addition to the situations described above.

Inflation refers to a rise in the price of everyday items. Homes are built with those everyday goods. A builder will increase the price of a home if the cost of lumber or appliances goes up.

In some cases, however, inflation can have oppositional effects on real estate. If inflation rises, then theoretically, money should become more expensive to borrow. People borrow less of it, so there are fewer home purchases and that can lead to lower economic growth. Right now, that’s not happening however, because as mentioned, interest rates remain low.

When the Central Bank increases the money supply into the economy, which is a primary driver of inflation, home prices tend to automatically go up as a result.

Real Estate Can Protect You Against Inflation

Although inflation can negatively affect real estate through higher prices, it can also protect you from its effects.

As home prices go up over time, you’re lowering the loan-to-value of your debt. You’re simultaneously increasing your equity, but your fixed-rate mortgage payments will stay the same.

A real estate investor who earns income from rental properties will likely be able to charge higher rent when inflation increases. The rent can be adjusted while the mortgage remains the same.

Finally, in general, home prices do also tend to go up steadily over time. The homes that hit bottom prices during the real estate bubble burst of 2008 were back up to pre-crash prices in less than ten years in most cases.

The relationship between housing and inflation can go in both directions. If you’re a buyer right now, inflation isn’t good news, but if you own a home, it can be one of the best ways to protect yourself against rising prices.

510 Loma Linda Court NE
Rio Rancho, NM 87124

1520 VISTA DE COLINAS Drive SE, Rio Rancho, NM 87124

Corner lot, BEAUTIFUL one story home with a desirable floor place & lots of living space w/beautiful upgrades! Great room features a wall of windows, decorative ledges & a gas fireplace! Gather, cook & entertain in the gourmet kitchen featuring a wide island/bar with sink, 42''cabinets w/crown molding, granite countertops, large pantry & bkfst nook w/French doors to the backyard patio! Spacious master suite features his & her vanities, garden tub, separate shower, tile flooring and a large walk-in closet. Secondary bdrs on a private wing feature a Jack-N-Jill bath w/walk-in tub & shower. Utility room has cabs, sink & storage closet. Covered patio, easy care rock landscape, trees, turf and walled for privacy; a perfect place to enjoy outdoor living and the best of NM weather!

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

New Albuquerque Listings for a New Year!

by Sandi Pressley

These HOT Albuquerque homes are our first offerings for 2023. so make sure you schedule a showing today before they leave the market!

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

510 Loma Linda Court NE
Rio Rancho, NM 87124

1520 VISTA DE COLINAS Drive SE, Rio Rancho, NM 87124

Corner lot, BEAUTIFUL one story home with a desirable floor place & lots of living space w/beautiful upgrades! Great room features a wall of windows, decorative ledges & a gas fireplace! Gather, cook & entertain in the gourmet kitchen featuring a wide island/bar with sink, 42''cabinets w/crown molding, granite countertops, large pantry & bkfst nook w/French doors to the backyard patio! Spacious master suite features his & her vanities, garden tub, separate shower, tile flooring and a large walk-in closet. Secondary bdrs on a private wing feature a Jack-N-Jill bath w/walk-in tub & shower. Utility room has cabs, sink & storage closet. Covered patio, easy care rock landscape, trees, turf and walled for privacy; a perfect place to enjoy outdoor living and the best of NM weather!

Learn More!


521 ALBINO Road, Corrales, NM 87048

Majestic Custom Tuscan style home with over 3500 square feet, featuring an open & bright floorplan & thoughtful architectural & design details throughout! Grand foyer leads to stunning great room boasting a raised, beamed ceiling; floor to ceiling 'stack' stone fireplace; picture windows to enjoy the Sandia Mtn views; & surround sound extending out to covered patio. Gourmet kitchen graced w/beautiful cabinets & granite cntrs; high end SS appliances w/dbl ovens & 2 microwaves; oversized eat-at island; large pantry & sunny nook. Exquisite custom etched glass doors open o the formal dining room! Privately situated primary suite is a true retreat with its own east facing patio & spa like en suite.

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

New Albuquerque Home Owner? These Items are a Must

by Sandi Pressley

Being a new homeowner in Albuquerque is quite a learning experience. No matter what the project you try to tackle, it seems like there's always something that will catch you by surprise.

Yet if you have the right items handy, then you can be better prepared for any scenario. By stocking your home with these following items, you'll be ready for any new challenge as a new homeowner.

Wet-Dry Vacuum

You’re gonna be spilling stuff. Look for a wet-dry vacuum that can handle everything from paint to nails and small stones.

(The Right) Fire Extinguisher

Most people don't realize there are more than one type if fire extinguisher. In fact, there are five different types of fire extinguishers with different uses, from extinguishing cooking oils to wood and paper. Check the U.S. Fire Administration’s guide to make sure you get the right one for your home.

A small coloured band indicates the type of fire extinguisher – red for water, white and red for water mist, cream colour for foam, blue for dry powder, yellow coded extinguishers are used for wet chemical, green for clean agent and black for CO2 extinguishers.

Extension Cord Organizer

No one likes to deal with tangled cords, especially extension cords. You can save yourself time and hassle with cord management devices. You can also make your own with a pegboard, hooks, and velcro straps to keep each cord loop secure.

Either way, your cords will be knot-free and easy to find. And be sure to include a heavy-duty extension cord in your organizer that’s outdoor-worthy. You don’t want to really have to use that fire extinguisher.

Big-Kid Tools

Odds are you already own a bunch of the basics: drill, screwdriver, hammer, level, tape measure, wrench, pliers, staple gun, utility knife, etc. But home ownership may require a few new ones you might not have needed before, including a:

  • Stud finder. You can make as many holes in the walls as you want now. Use the stud finder to figure out where to hang those heavy shelves so they’re safely anchored.
  • Hand saw. Much easier (and cheaper!) than a power saw, you can get a good cross-cut saw for smooth edges on small DIY projects.
  • Ratchet set. Every bolt in your new house belongs to you, so you’d better be able to loosen and tighten them when needed. Crank that ratchet to get to spots where you can’t turn a wrench all the way around. Great for when you’re stuck in a corner.
  • Pry bar. Get one with a clawed end to pull nails and a flat end to separate drywall, remove trim or molding, and separate tile.

Tool Kit

You’ll need something to carry all those tools around from project to project. Create a tool carrier using a tool bucket liner and an old 5-gallon bucket. Or invest in a handyman belt filled with the basics to keep on hand in the kitchen.

Confidence

With a little self-confidence — and some YouTube tutorials — there’s (almost) no DIY project you can’t master.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

5208 RUSSELL Drive NW, Albuquerque, NM 87114

Location + Serenity = 5208 Russell Dr. Welcome home to this updated gem in Paradise Hills. Situated on an oversized lot, enjoy a wealth of perks in this 4-bedroom, comfortable home. NEW Champion Windows (2022), NEW Fireplace High-Efficiency Wood Stove insert (2021), almost new kitchen appliances (2019) including Gas Range, Refrigerator, Dishwasher and Disposal, Mastercool (2016) AND NEWER Stucco & Roof (2016). Get ready for the holidays with room for everyone in the open, updated kitchen with oversized pantry and access to TWO living areas. And then check out the backyard!!

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

Get your Morning Inspiration with the Sandi Pressley Team

You Don't Need Perfect Credit to Buy a Home in Albuquerque

by Sandi Pressley

Here's a fact many people don't know. You don't need perfect credit to buy a home in Albuquerque.

Having a low credit score doesn't mean that owning a home is impossible. It will mean, however, that a mortgage will cost you more than if you had perfect credit. But there are still many lenders that will work with you.

Here’s what you need to know about low-credit score mortgages:

What Counts as "Low Credit"?

We first need to get past the myth that you have to have amazing credit to buy a house. Lenders will take into account your entire financial picture. If you have a stable income, regular payment history, and cash in hand, this will all help if your credit isn't so stellar.

Here’s how FICO generally categorizes credit scores:

  • 800+ = Excellent credit score
  • 740-799 = Very good credit score
  • 670-739 = Good credit score
  • 580-669 = Fair credit score
  • Below 580 = Poor credit score

Having a credit score below 669 usually makes you what is called a “subprime” borrower, according to FICO. This means that a loan will cost more, since you're a bigger risk. You will also have fewer options.

Your primary low-credit-score mortgage option will be FHA , which sometimes give loans with credit scores as low as 580. But the lower your score, the more it will cost you.

How Does Your Credit Score Affect Interest Rates?

Having a lower score means you will usually pay more of a down payment, higher interest rates, and private mortgage insurance.

Buy Now Or Work On My Credit?

If you pay a ton for rent, then buying now might be better, then you can refinance when your credit improves. For others, it may be smart to how promptly you pay your bills; it accounts for 35% of your score. A lender can help you decide. Or you can use an online tool to estimate the cost of different scenarios.

If you’re going to apply for a low-credit-score mortgage, more cash in the form of a bigger down payment helps. Plus, it can reduce your interest rate, which reduces your monthly payment.

How Do I Boost My Credit Score?

If you opt to work on your credit before getting a mortgage, here are a few ways to do it:

  • Look into rapid rescoring. You’ll work through your lender to fix errors and update information with the credit bureaus quickly, sometimes within days or weeks, rather than months. This isn’t credit repair, but a way to accelerate getting updated information through the system and into your report. Discuss with your lender whether this is a worthwhile pursuit for your circumstances.
  • Find a reputable credit counselor to guide you as the industry is fraught with scams.
    • Check your credit report for errors.
    • Pay off credit card balances.
    • Pay off other outstanding collections.
    • If you don’t have credit, get a credit card or small loan and establish a good payment history. (No credit is low credit.)

Even if you have a low credit score, a mortgage isn’t out of reach. While it may cost you more to buy now, in the end, it may be less expensive than waiting. And you’ll get the joy of owning a home to call your own.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

510 Loma Linda Court NE
Rio Rancho, NM 87124

121 LAWRENCE Drive NE, Albuquerque, NM 87123

Welcome home to this single-owner, single-story Foothills gem! This one has a lot of updates: 2 NEW Evaporative Coolers (2022), 1 NEW Furnace (2022), Nest system (2022). The renovated kitchen showcases an open floorplan, granite countertops, SS appliances, double-oven, and butcher-block island. Enjoy a spacious master suite complete with tons of closet space, dual sinks, oversized jetted tub and multi-showerheads in the large shower. This one has living space galore plus a 3-car garage to house all of your toys. With the convenience of a central vac system, a 75-gallon water heater & oversized, walled lot, this one is ready for its new owner today!

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Start 2023 in One of These HOT Mid-Priced Albuquerque Homes

by Sandi Pressley

There's no better way to start the new year than in a new home. And these mid-priced Albuquerque homes are just waiting for you to move in and start a new life in 2023.

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

510 Loma Linda Court NE
Rio Rancho, NM 87124

121 LAWRENCE Drive NE, Albuquerque, NM 87123

Welcome home to this single-owner, single-story Foothills gem! This one has a lot of updates: 2 NEW Evaporative Coolers (2022), 1 NEW Furnace (2022), Nest system (2022). The renovated kitchen showcases an open floorplan, granite countertops, SS appliances, double-oven, and butcher-block island. Enjoy a spacious master suite complete with tons of closet space, dual sinks, oversized jetted tub and multi-showerheads in the large shower. This one has living space galore plus a 3-car garage to house all of your toys. With the convenience of a central vac system, a 75-gallon water heater & oversized, walled lot, this one is ready for its new owner today!

Learn More!


5208 RUSSELL Drive NW, Albuquerque, NM 87114

Location + Serenity = 5208 Russell Dr. Welcome home to this updated gem in Paradise Hills. Situated on an oversized lot, enjoy a wealth of perks in this 4-bedroom, comfortable home. NEW Champion Windows (2022), NEW Fireplace High-Efficiency Wood Stove insert (2021), almost new kitchen appliances (2019) including Gas Range, Refrigerator, Dishwasher and Disposal, Mastercool (2016) AND NEWER Stucco & Roof (2016). Get ready for the holidays with room for everyone in the open, updated kitchen with oversized pantry and access to TWO living areas. And then check out the backyard!!

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Why Albuquerque Home Inspections are So Important

by Sandi Pressley

The process of buying and selling a home in Albuquerque involves inspections. By doing this, buyers can avoid spending money on expensive repairs later on, and sellers can prepare their properties for a quick sale. Furthermore, regular home inspections help homeowners learn how to maintain, enhance, and increase the value of their properties. 

Here are the things you should know about a home inspection and what to expect from it. 

The Property Will Be Inspected Thoroughly

As the name suggests, a home inspection will cover every nook and cranny of the property, both the interior and exterior. 

You should be present during the inspection if you are the buyer. The inspector will be able to show you firsthand what the inspector is checking, allowing you to determine which areas need repair and how extensive those repairs will be.

Generally, the seller should not attend the home inspection. The seller’s presence will inhibit the success of the inspection because the buyer will not be comfortable conferring with the inspector about the home’s flaws. 

You can find out more about the home inspection process and what it entails by contacting reputable real estate agencies like Hills Direct Real Estate.

It May Take Several Hours

Depending on the size of the house and the number of areas to inspect, a general home inspection can take around two to four hours or even more. In case there are too many major issues with the property, the inspection may be the start of a new process.

Depending on the findings, the report may launch a series of questions and challenges. The seller may agree to make the necessary repairs or give the buyer some money to hire someone to do the repairs before they move in. In some cases, the buyer may cancel the offer to buy the property if it has major safety issues. 

You Need To Hire A Good Home Inspector

Just like in any profession, there are qualified and unqualified home inspectors. However, it can be challenging to distinguish a professional and qualified inspector from someone who’s not. 

Checking the inspector's credentials is essential. A licensed and certified inspector is the best choice. The American Society of Home Inspectors (ASHI) certifies inspectors who have passed an exam and completed a minimum of 250 inspections. An inspector licensed by the state is familiar with the state's home inspection standards. 

Furthermore, you may ask to see the inspector’s sample report. This report should be comprehensive and contain color photos of the home’s problems. 

Inspecting a home is a tedious process. Further evaluation is needed in many areas and aspects. Therefore, hiring a professional home inspector is essential. Also, an incompetent home inspector can jeopardize a transaction.

It Requires You To Invest Some Money

Home inspections can give the buyer peace of mind. It’s beneficial for you to know that the property has been thoroughly checked for any issues. You can be sure that the house you intend to purchase has no hidden problems that might cause you headaches once you start living there. Since no home is perfect, the home inspection can also serve as a guide on home repairs that may be required over time.

It is your responsibility to hire a home inspector as the buyer. When you purchase a property, you should know what a home inspection will cost you so you are prepared for additional costs. There is no set fee for home inspections, however. Home size and location determine the price. 

Typically, the price of a general home inspection costs somewhere between USD$300 and USD$500. Also, the price may increase if you want a more specialized inspection. 

You Will Receive A Home Inspection Report

A copy of the home inspection report will be sent to the buyer within a few days. It’s a usually multi-page document that includes all the details of how the inspection went and the overall condition of the property. 

The report will list the issues that were found during the inspection and corresponding recommendations. Expect to see many photos from different areas that highlight the house’s flaws. 

The inspector will also include in the report the age of appliances and systems in the house based on the information they’ve gathered. 

The best thing about home inspections is that it protects the buyer from acquiring a property with major safety and health issues. You may also use the inspection report as leverage to request the seller to reduce the price or to undertake some repairs. The report itself is valuable because it contains a professional’s unbiased opinion about the issues they managed to uncover and how these can be addressed.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

510 Loma Linda Court NE
Rio Rancho, NM 87124

8519 MENDOCINO Drive NE, Albuquerque, NM 87122

Exceptional Custom Beauty situated in the highly desirable neighborhood of Vineyard Estates! This light, bright, single level home features 2 living areas & a split master floorplan. Featuring raised ceilings, clerestory windows, & skylights optimal for natural light; rich oak wood flooring & wood look tile throughout. The fully remodeled kitchen (2022) boasts gorgeous granite countertops w/waterfall eat at island, new cabinets w/solid brass hardware, SS appliances including 3 ovens, & opens to the welcoming family & dining spaces. The Primary Suite is a true oasis with its own private courtyard & spa like en suite. Oversized Garage w/room for workshop etc. Outdoor entertaining will be a delight under the covered patio & lush landscaped backyard. Close to shopping, park, schools, & more.

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Our Latest HOT Albuquerque Homes for Sale!

by Sandi Pressley

If you're in the market to find the ideal home in Albuquerque that's packed with features at a great price, then these latest HOT properties are just what you're looking for!

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

510 Loma Linda Court NE
Rio Rancho, NM 87124

9909 ARTEMSIA Avenue SW, Albuquerque, NM 87121

Welcome to this wonderful home, 4 years young to make it your own. Well maintained 4 bedroom, 3 bath home that is move in ready. All bedrooms are on the second level including the laundry room. Primary bedroom included, garden tub, separate shower, WC and a spacious walk in closet. Light filled home with an open floorplan. Flowing great room transition with Kitchen and dining room. Great location within the Desert Sands community. Near shopping and easy access to I40.

Learn More!


512 PLAYFUL MEADOWS Drive NE, Rio Rancho, NM 87144

Welcome home to this open floorplan in the beautiful neighborhood of Northern Meadows! This one-story home features vaulted ceilings, a large kitchen that opens to the living room, and a large primary suite separate from the other two bedrooms. NEW ROOF (2019), REF. AIR CONVERTED in (2019). All appliances stay in the home (kitchen appliances, washer/dryer). This home has a large finished backyard. Schedule a showing!

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Check Out These Hot "Just Listed" Albuquerque Properties!

by Sandi Pressley

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

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

510 Loma Linda Court NE
Rio Rancho, NM 87124

324 PLAZA MUCHOMAS, Bernalillo, NM 87004

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

Learn More!


5208 RUSSELL Drive NW, Albuquerque, NM 87114

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

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

Is a Fixer-Upper Really Worth Buying in Albuquerque?

by Sandi Pressley

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

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

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

Evaluate the Price

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

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

Start Evaluating What Improvements Are Needed

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

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

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

Which Hire-a-Pro Projects Add Instant Equity?

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

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

  • New roof
  • Hardwood floors
  • Insulation

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

Evaluate Your Ability to Deal with Disruption

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

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

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

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

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

26 BENDITA LOMA, Los Lunas, NM 87031

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

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

These Hot Albuquerque Homes Offer Room to Grow

by Sandi Pressley

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

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

510 Loma Linda Court NE
Rio Rancho, NM 87124

635 FOXCROFT Loop, Bosque Farms, NM 87068

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

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26 BENDITA LOMA, Los Lunas, NM 87031

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

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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.

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

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