Real Estate Information Archive

Get ready to take advantage of these price reductions on a few of our featured homes in Albuquerque.  They may have been on the market for a couple of weeks, but that's only because you haven't looked a them yet. But you better act quick, because these homes will go fast.

If you have any questions about these fine properties, always feel free to contact Sandi Pressley and her team at 505-263-2173. You can check out all of our listings on our Featured Listings page. You can also see our other Hot Properties on our other blog.

1200 STAGECOACH Road SE, Albuquerque, NM 87123

$499,000

Welcome Home to this pristine Four Hills Village beauty with city and mountain views! Natural light fills every room in this very functional floor plan. Featuring both formal and informal living areas. In the enormous family room you will find vaulted ceilings, new carpet, brick fireplace, hearth, built in book shelves and big beautiful windows! You will love the gourmet kitchen boasting granite counters, large island, and SS appliances. Entertaining will be a breeze as there is plenty of room for everyone in this lovely 4 bedroom home!! Many wonderful upgrades, please see list in documents.

Learn More!

400 PENNY Lane, Corrales, NM 87048

$545,000

Spectacular Sandia Mountains & Valley Views from this incredible 4BDR/3BA/3CG Corrales home! Enjoy the picturesque views from the great room, sunny breakfast nook, dining room, master suite & balcony! Open great room features wood ceiling, cozy kiva fireplace. Kitchen features granite countertops, beautiful cabinetry, island, bkfst bar, SS appliances, brick flooring. Study/Office/BDR and full Bath on the main floor. Two secondary bdrs share a Jack N Jill bath. Master suite features a double sided fireplace, East facing covered balcony, jetted tub, dual sink vanity and walk-in closet. Fully fenced property with gate entrance, lush grass, fruit trees, waterfall feature, raised beds, covered patio & balcony with amazing mountain and bosque views!

Learn More!

1016 SARATOGA Drive NE, Rio Rancho, NM 87144

$499,000

Enjoy Grand Views of Sandia Mountains from the Belvedere. Breathtaking setting for this European flair home perched on elevated lot landscaped, w/ grapevines, fruit trees, grass, fountain, a walk path around the property. Courtyard entry, Inviting foyer curved archways, opens to expansive great room w/ Soaring ceilings, Light filled gourmet kitchen, w/center island & gas cooktop, double ovens, ample cabinets and counters, 2 pantries, an breakfast nook that looks onto the outdoor east facing pavilion. Private Owner's suite, features European style WC, jetted bath, separate shower and dual vanities. walk in closet and a bonus/flex room & laundry rm. 3 more spacious bdrms. Zoned radiant heat, entire property is gated, 4 cg/each oversized. circular driveway, backyard access w/ room for RV!

Learn More!

8100 Ronan Court, Albuquerque, NM 87122

$610,000

Gorgeous Former Model Home with Abrazo 'All Inclusive' Upgrades plus Casita/Studio! Featuring fine appointments throughout that include; Home Automation system; raised ceilings w/wood beams; Hardwood flooring; High end Ceramic Tile in wet areas; Gorgeous Carerra quartz counter tops; built in gourmet kitchen w/ white icing Lancaster cabinetry & high end Kitchen-Aide appliances; High speed ethernet thru-out; Navion Tankless Wtr Htr; 95% Efficient Carrier Furnace; Heated & Cooled Garage. Master retreat w/luxurious spa like en suite. Twelve foot sliding doors lead to beautiful low maintenance landscaped backyard w/covered patio & firepit. 300 Sq Ft Casita w/large living/studio area; 3/4 bath; spacious closet. So many upgrades-must see the included feature sheet to appreciate all.

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.

As you well know, the pandemic has impacted every industry, including the the real estate industry. The way people buy and sell homes has changed quite a bit as a result. The interesting twist in all of this is that the demand for housing hasn't fallen, despite expectations that it would. In fact, the demand seems to has gone up.

Many people in Albuquerque are looking for more space, and for obvious reasons. We are all spending much more time in our homes, as well as working from home. And since more people are working remotely, they have the options to widen their search since they don't have the commute they use to. Who knows if this will be a permanent situation. But in the end, things will be different when the pandemic pass, and home buyers are keeping that in mind when searching for a home in Albuquerque.

Whether you plan to buy or sell a home in Albuquerque, you need to be aware fo how much the market has changed. This will allow you to find the right home for your needs.

Here are a few things to keep in mind when buying or selling a home in Albuquerque during the pandemic.

Know the Local Albuquerque Real Estate Market

Keep in mind that local real estate markets vary from place to place. Right now in Albuquerque, there are plenty of homes for sale. That means that Albuquerque has a great selection of homes for home buyers looking for a home that better suits their needs. This is not even including the surrounding communities such as Bernalillo, Corrales, Rio Rancho, and others. These surrounding areas in Albuquerque give home buyers more options, as commuting is not as much as an issue as it once was for many people who can now work from home.

The Changing Loan Market

It's taking a bit longer for loans to go through now due to the pandemic, as some parts of the home loan market are not operating at full capacity. This is causing a backlog in processing loans. To add to this load, traditional lenders are trying to process SBA loans under the Payroll Protection Program (PPP), placing home loans lower on the priority list.

This means that has a home buyer in Albuquerque, you need to be patient. Interest rates are still historically low. If you are looking to buy a home in Albuquerque that you plan on living in for the next few decades, you could end up saving thousands of dollars over the life of the loan.

Questions About Employment Are Common

Finally, you should expect a lot of questions about the status of your employment. Since tens of millions of people have filed for unemployment since the pandemic started, lenders are just as strict as ever when it comes to making sure their borrowers have the capacity to pay back their loans. You might even be asked to submit pay stubs every two weeks instead of the traditional six weeks.

The Real Estate Market in Albuquerque Is Strong

The COVID-19 pandemic has forever changed how people look at the process of buying and selling homes. Right now, everyone needs to expect the unexpected. The good news is that for both buyers and sellers in Albuquerque, there are still significant opportunities.

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!

1 TIERRA MONTE Street NE, Albuquerque, NM 87122  $495,000

2 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2655 Square Feet

Spectacular and Breathtaking Panoramic views from this gorgeous one owner custom home nestled in the foothills of the Sandias. Beautifully updated/remolded bathrooms and kitchen, including new appliances. Master bath is a true spa like retreat along with a huge walk in closet. What a great home for entertaining family and friends indoors and out. This is a true one of a kind home conveniently located near hiking, biking and waking trails. The unobstructed majestic views will take you breath away!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Selling your home in Albuquerque can be an exciting time, but there's a lot of things to keep in mind so that the process goes smoothly as you transition to your new home. Here are a few common mistakes for you to avoid in hopes to keep the selling process as efficient and stress-free as possible.

1. Setting a price for your home without doing research or working with a real estate agent is the first mistake to avoid. Home prices are based on a number of factors, such as comparable sales in your Albuquerque neighborhood,the time of year, current available inventory, and much more. 

2. On that same note, the next mistake to avoid is pricing your home too high off the bat. We can tell you from experience that overpricing a listing will yield fewer showings. Also, we know that homes for sale in Albuquerque sell closer to their asking amount if they are priced correctly at the start of the listing. 

3. Another mistake regarding pricing your home for sale is setting a strange listing price. In other words, don't set your price for your $400k home at $402,289. Not only is that odd, but it will keep your home from being seen if a home buyer is searching for homes in the price range below $400,000.

4. Overpricing your home because you have more time to sell it is also a mistake. Some may think that they can list their home at a higher price and wait for the right buyer to come along who will pay it. Yet the longer your house sits on the market, the less likely you are to get showings and in return the more difficult it becomes to attain that higher asking price. 

5. Becoming emotionally involved in the selling process is another mistake that's easy to make. You have probably lived in this home for years and have emotional connections to it. But you need to remember that this is a business transaction, and you should not take it personally if you get a low offer on your listing. View this as an opportunity to negotiate with the potential buyer to see if you can settle on a number that works for both parties. 

6. Even in the best seller’s market, you need to stay away from the mindset that the house will sell itself. Anytime a listing goes live, you need to ensure that the home is properly staged and marketed to ensure it is appealing to potential buyers. 

7. Finally, the last mistake to avoid is trying to sell your home on your own. Studies have shown that homes for sale in Albuquerque stay on the market longer and sell for far less when people do not work with a real estate agent.

The Sandi Pressley Team has the experience you need to help avoid making these selling mistakes. Contact us today to see how we can help you get the best price for your home for sale in Albuquerque.

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!

4332 ALTURA VISTA Lane NE, Albuquerque, NM 87110  $230,000

3 Bedrooms / 3 Bathrooms (2 full, 1 half) / 1662 Square Feet

Fantastic location in desirable gated community of Altura Village! Conveniently located close to UNM, Nob Hill, UNM Hospital, Altura Park! 3BDR/2.5BATH plus Loft! Light, bright & open with lots of living space in the great room. Open kitchen with sunny breakfast nook, gas stove, built-microwave, refrigerator, washer & dryer stay! 3 large bedrooms upstairs! Master bdr has a wall of windows, 2 walk-in closets, garden tub/shower, dual sink vanity and tile flooring in bath. Private gated community minutes away from shopping malls, Uptown & restaurants.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

There are a lot of beautiful homes in Albuquerque for sale. So when you sell your home, you need to make sure it stands out from all the competition, especially these days. Your porch will be one of first things that potential home buyers in Albuquerque will see, so you want to make sure it welcomes them to their new home. Having an inviting porch is an important part of staging your home so that it sell more quickly. Here's a few ideas that will help your porch stand out and welcome guests and home buyers alike.

1. Plants in the Foreground

You can lead your guests right to your porch with plants and flowers that follow the path to your front door. Pretty flowers can really make a big difference in curb appeal. And for those sitting on the porch, it's also a relaxing scene to look at.

2. A Doormat

This step involves nothing more than replacing that tired old doormat. For a more custom affect, try layering a traditional coir doormat atop a larger striped outdoor rug.

3. A Pair of Chairs

If there's room for it, having two chairs instead of one is more welcoming, as it paints the scene of family and friends spending time on the porch together. Some photos may show a chair on each side of a porch, but that doesn't make sense in real life, unless you want to shout back and forth across the porch. Put them together.

4. Thoughtful Color Coordination

Use the color of your front door or trim as a starting point for choosing a color scheme for your porch. You can then repeat that same hue in the accents, like pillows, cushions, door mat, and flower pots.

5. A Fan

Fans are a great way to deal with the bugs and warm weather, and as such make a great investment. A ceiling fan installed by a professional is an ideal choice, but you could also use a standing or tabletop fan as well.

6. Outdoor Curtains

If your porch is lacking in shade, you can add a set of outdoor curtains to diffuse the sun. You can open and close them as needed, just like indoor curtains. If you choose a color other than white, make sure it's a fade resistant fabric to make sure the colors stay vibrant.

With these tips, you'll be on your way to making your home in Albuquerque stand out from the rest of the pack.

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!

60 SANDIA MOUNTAIN RANCH Drive, Tijeras, NM 87059  $575,000

4 Bedrooms / 3 Bathrooms (1 full, 2 half) / 4255 Square Feet

Very special mountain home with incredible views, patios and balcony! Well designed floor plan with 3 wings. Master suite retreat with walk-in closet, jetted tub and connecting laundry. Two bedrooms in the second wing with bath and an office or 4th BDR in the third wing. Great room with cozy fireplace, formal dining room with private deck, gourmet kitchen with granite counter tops, SS appliances, wine fridge, gas cooktop, bar, recessed lighting, bkfst nook with amazing views! Special features include an elevator and approx 1500sf of living space; game room, exercise room, media room and workshop!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Downsizing. It's a word that's been on more people's lips lately due to the economic situation we're living in now. Many people are thinking about how they can adjust their finances to ride this storm and be more secure. For those who own a home in Albuquerque, the thought of moving into a smaller and less expensive home has stood out as a way to make better use of income now, and in the future.

Traditionally, downsizing was a decision that mostly retired homeowners were faced with. Now, virtually all of us need to consider it. But is downsizing your home the right move for you? Here are some pros and cons to consider before you abandon your home for a smaller one in Albuquerque.

Pro: You Can Make Money Selling Your Stuff

Moving into a smaller home means that you will need to shed some possessions. You can sell your more expensive items using Facebook, Craigslist, or Ebay. Depending on social distancing restrictions in the future, you can have a garage sale. Whatever is left to dispense of can be donated.

Con: Purging Can Be Exhausting

Selling your personal items does take a good deal of time (which you may have more of now anyways), but it can be exhausting. Just deciding what to get rid of can be emotionally draining.

Pro: Live in a More Desirable Neighborhood in Albuquerque

As a smaller home in Albuquerque will probably cost less, this can give you an opportunity to move to a neighborhood in Albuquerque that better fits your new lifestyle. You can check out the top neighborhoods in Albuquerque and search for homes on our blog.

Pro: Fewer Costs and Less Upkeep

If you move into a less expensive home in Albuquerque, you can save any profit you make in the move. And you'll probably also save more money on utilities. If you shop wisely, you can find a more energy efficient home that will help you save money down the road. Plus, you'll have a smaller home to upkeep, saving even more money.

Con: The Costs of Moving

Depending on how far you move and if you hire professionals, moving could cost you a lot of money, not to mention effort and time. Plus, there's the time and effort to put your home on the market and go through the selling process, and then to find your new home.

Con: Less Space

With less space to work with, you'll need to be more selective about what you buy. Living in small quarters means constantly making a series of trade-offs. 

Downsizing is a big decision, but one that can make a positive impact on your life. If you carefully weigh the costs and benefits, you can make a good decision when it comes to downsizing to a smaller home in Albuquerque.

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!

400 Penny Lane, Corrales, NM 87048  $550,000

4 Bedrooms / 3 Bathrooms (3 full, 0 half) / 2275 Square Feet

Spectacular Sandia Mountains & Valley Views from this incredible 4BDR/3BA/3CG Corrales home! Enjoy the picturesque views from the great room, sunny breakfast nook, dining room, master suite & balcony! Open great room features wood ceiling, cozy kiva fireplace. Kitchen features granite countertops, beautiful cabinetry, island, bkfst bar, SS appliances, brick flooring. Study/Office/BDR and full Bath on the main floor. Two secondary bdrs share a Jack N Jill bath. Master suite features a double sided fireplace, East facing covered balcony, jetted tub, dual sink vanity and walk-in closet. Fully fenced property with gate entrance, lush grass, fruit trees, waterfall feature, raised beds, covered patio & balcony with amazing mountain and bosque views!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

If you’re a regular reader of our blogs, you’ve no doubt noticed a “Featured Hot Property” at the end of every article. These are some of the hottest properties in the Albuquerque real estate market. Here’s a roundup of some of our latest properties currently on the Albuquerque market. If you have any questions about these fine properties, always feel free to contact Sandi Pressley and her team at 505-263-2173. You can check out all of our listings on our Featured Listings page.

6038 DEL CAMPO Place NE, Albuquerque, NM 87109

$159,000

Lovingly tended and cared for charming townhouse! Courtyard with gate for privacy. New furnace and refrigerated air unit. New carpet and tile in bathrooms! Large living area with lots of natural light. Backyard has covered and open patio. New Roof 2019, HOA Covers Exterior of Residence- Roof, Stucco, Pool, Club house Etc!

Learn More!

11705 Golden Gate Court NE, Albuquerque, NM 87111

$250,000

Outstanding 3bdr, one level, Double Brick, Holiday Park Custom Ranch Home! Tremendous functional floorplan! Brand new appliances in the kitchen. Kitchen opens to the family room with cozy gas fireplace. Pride of ownership shows throughout this home!! Front yard features a convenient circular driveway. Two large lovely covered patios in the big backyard. Desirable location, NE Heights comfort and convenience located close to schools, medical, shopping, gym, restaurants Labs & KAFB. Come see this classic well maintained home today!

Learn More!

1240 Blanca Avenue NW, Los Lunas, NM 87031

$450,000

Beautiful custom home located in a cul-de-sac and short commute to Albuquerque. Enjoy the large backyard on your covered patio with a built-in surround system and open space behind for added privacy. The foyer with high ceilings makes for a grand entrance. Step into the stunning kitchen with custom cabinets and granite countertops that opens up to the living room. The bonus room downstairs could be an in-law suite with a private bath across the hall or a fourth bedroom. The decorative over-sized wooden staircase leads to the 2 additional bedrooms and master suite with balcony. Entertain family and friends at this beautiful home.

Learn More!

1016 SARATOGA Drive NE, Rio Rancho, NM 87144

$549,000

Enjoy Grand Views of Sandia Mountains from the Belvedere. Breathtaking setting for this European flair home perched on elevated lot landscaped, w/ grapevines, fruit trees, grass, fountain, a walk path around the property. Courtyard entry, Inviting foyer curved archways, opens to expansive great room w/ Soaring ceilings, Light filled gourmet kitchen, w/center island & gas cooktop, double ovens, ample cabinets and counters, 2 pantries, an breakfast nook that looks onto the outdoor east facing pavilion. Private Owner's suite, features European style WC, jetted bath, separate shower and dual vanities. walk in closet and a bonus/flex room & laundry rm. 3 more spacious bdrms. Zoned radiant heat, entire property is gated, 4 cg/each oversized. circular driveway, backyard access w/ room for RV!

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.

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

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

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

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

Disclosure Laws in New Mexico for Home Sellers

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

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

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

What Are Your Rights as a Home Buyer in Albuquerque?

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

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

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

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

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

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

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

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