Real Estate Information

Looking for a great way to celebrate the Labor Day weekend? There's plenty of ways to have fun the next week in Albuquerque. Here are some of the events to plan for.

New Mexico State Fair

Sep 9 – 19

Expo New Mexico

Since 1938 the New Mexico State Fair has been a favorite gathering place for New Mexicans to celebrate local food, competition, culture, creativity and our rich agricultural heritage. Located just five miles east of downtown Albuquerque at EXPO NM, the New Mexico State Fair has consistently been in the top 5 ranked fairs in the nation based on affordability, programming and weather.

New Mexico Wine Festival Albuquerque

Sat, Sep 4 – Mon, Sep 6

Balloon Fiesta Park

Albuquerque Wine Festival Brings together wineries from around the state in a relaxed setting, the Albuquerque Wine Festival is the place to be Memorial weekend. Find the wines you like through sampling, purchase a glass to enjoy on site and buy bottles to take home to enjoy later. Plus, enjoy a wide range of tasty foods, live music, and many vendors and art displays.

21st Annual AHEPA 501 Golf Tournament

Sat, Sep 4, 7:30 AM MDT

Los Altos Golf Course and Banquet Facility
9717 Copper Ave NE, Albuquerque, NM

HEPA 501 and The 100 Club is inviting you to join them on thier 21st annual golf tournament to support competitive scholarships for High School graduates and the initiatives of the 100 Club.

Owning a home in Albuquerque can certainly be a rewarding experience. And sometimes it makes you want to pull your hair out. The inevitable home repairs will come along from time to time, testing your patience and your wallet. You might be tempted to take on these repairs yourself, or have a friend who knows what they're doing" handle it? But there are some repairs that are definitely best left to thepros. Here's a few examples for you to consider.

Electrical Repairs

Electricians train for years to master their craft. And for good reason - electricity is dangerous. We take it for granted because we use it every day, but electricity can kill if not handled properly. Plus, bad electical work can lead to fires. You might think calling in your relative or friend who's a "great handyman" to do the repair for you, but often that can cause more problems or dangers than it will solve. Electricians can be expensive, but that is because they've spent many years studying and training to get the job done safely for you and them.

Basement Makeover

Renovating your basement may seem safe enough. But if you make mistakes, it could lead to major damage and injuty. A basement is a very important part of a home's structure, so don;t take chances. Even if the damage isn't fatal, it could wind up costing you far more than you bargained for.

Fun with Plumbing

Plumbing issues. Not a whole lot of fun to deal with one every day, leaving you tempted to take care of it yourself. You might think too, that plumbing, along with simple electrical repairs will be a walk in the park, but a fix done wrong can cause serious damage. To your home and wallet. So try calling a plumber. Why else are there at least a dozen in every town?

Gas Appliances

When it comes to gas appliances it could literally be an explosive situation if an appliance is not fixed and reconnected correctly during a repair. Similar to electrical repairs, if not done right, you could cause a leak, which could create major health problems and even a fire or explosion in your home or worse. So when it come to your gas appliances, don't DIY. Call a professional.

When it comes to health, safety and caring for your home, erring on the side of caution is always the best option.

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.

Purchasing a home in Albuquerque comes with many expenses, including closing costs. Often, these costs come as a surprise to inexperienced homebuyers and drastically affect their budgets. In spite of the seemingly additional costs, with a little planning, you can prepare for the added expenses. Planning ahead when searching for a new home can make the process easier.

How can you prepare for closing costs when buying a home in Albuquerque?

How to Budget for Closing Costs

When it comes to saving for their closing costs, homebuyers need to start planning well in advance. Before looking for a house, you should start saving money. If an unexpected expense arises, you will have your funds ready so you won't be forced to borrow from family or take out loans to cover it. 

Generally, you should expect to pay 3-4 percent of the purchase price for closing costs when calculating your home buying budget. As an example, if you spent $200,000 on your home, you can expect closing costs to be between $6,000 and $8,000. Using this figure as a starting point can give you a good idea, but keep in mind that it can vary greatly, depending on the area you live in and the amount of the mortgage.

What's Included in Closing Costs? 

The three main areas where closing costs are incurred are mortgage origination fees, which comprise points and lender's fees; government recording fees; and charges from third parties, including adjustments for utilities, flood certifications, home warranties, and points for loan discounts. Several closing costs are negotiable, including lender's charges and government recording fees. Buying a house requires some specific closing costs, which you can find out from your mortgage lender.

There are a variety of closing costs that include the down payment, the settlement agent fee, escrow or title searches, and any other charges that are typically related to a home purchase. 

The majority of closing costs arise from paperwork required to process your mortgage application and handle the loan closing paperwork. In addition, you will be charged various service fees from your lender and unpaid agents. 

Factors That Affect Closing Costs

You will have to pay closing costs based on a variety of factors. As an example, your down payment is an important factor, but it isn't the only one. You need to take into account these additional factors as well:

The size of your loan: 

The loan origination fees as well as points will likely be higher if you are taking out a large loan. If you're planning on taking out a large mortgage, you should be prepared to pay an extra 2 to 4 percent for these fees. 

Where you buy: 

Closing costs are likely to be higher if you are buying in a high-cost area. Transfer fees and taxes tend to be higher in areas with high property values. When considering a new area, you should research it so you can make the right decisions. 

The type of home: 

Closing costs also depend on the type of property you purchase. In the instance of a newly built house, the lender will put aside money to pay taxes owed once the property has been assessed. In the case of an existing home purchase, you will likely have to pay these fees and taxes upfront. 

Buying a home has its share of closing costs, but they can be less daunting if you plan ahead and budget. It is best to start preparing for these costs before you get too involved in the process of buying a home, and once you know how many costs to expect you can seek professional advice.

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 Albuquerque homeowners have been inspired by the looming climate crisis and the overall push toward sustainability to make eco-conscious improvements to their homes. Simply switching to refillable cleaning products is an easy way to go green. You can also buy organic mattresses from Essentia, or use beeswax wrap instead of plastic. The presence of organic mattresses in your home can reduce toxins, although these eco-friendly alternatives, such as chemical-free sleeping surfaces, won't be enough to gain eco-conscious buyers. 

The change to eco-friendly products does reduce your personal carbon footprint, but investing in green home improvements benefits the environment and your wallet, all while giving prospective buyers a positive impression of your home. 

Would you like to go green? Boost the resale value of your Albuquerque home with these seven sustainable tips. 

Efficient Heating

Over 30% of your energy expenses are attributed to heating your home during the winter. To reduce your utility bills by a half, you need to replace your outdated furnace or boiler with energy-efficient models. Thermostats can also be programmed for maximum efficiency all year round with modern heating systems. 

Water-Saving Fixtures 

Old toilets and faucets leak a surprising amount of water. Fixtures with faults are more likely to leak water and increase your water bill. Water-saving toilets, showerheads, and faucets can help you save money and water by reducing the use of water within your home. 

Kitchen Appliances 

Since cooking appliances consume the most electricity, it is no surprise to see your kitchen as the highest energy consumer in your home. In order to reduce the environmental impact of your home, you can easily swap out energy-consuming appliances for energy-efficient alternatives. Choose dishwashers, refrigerators, and microwaves with Energy Star ratings for the best eco-friendly appliances. 

Better Windows 

Unsealed cracks in old windows allow a substantial amount of air to enter your home, literally wasting your money when it comes to heating and cooling. Put in new windows that are designed to keep your house warm in the winter and cool in the summer. You'll save money and be able to attract buyers with high-efficiency windows. 

Smarter Lighting 

It's time to retire fluorescent bulbs from your home's lighting. Lighting that's energy-efficient requires a lot less energy to illuminate your home. For maximum efficiency, use LED bulbs or compact fluorescent lamps. 

Water-Wise Landscaping 

Even though a lush front lawn looks healthy from the outside, it consumes a great deal of water. Lawn care costs homeowners a lot of money and in turn is a turn-off to potential buyers. Choose drought-tolerant plants that are easy to maintain and add curb appeal to your home instead. California Poppy, Yucca, and Lavender are just some of the greenery that is water-wise. 

Insulation

A house that is not properly insulated won't benefit from new windows and cooling systems. Don't forget to insulate an unused attic space and seal windows and doors properly. For the best results, hire a professional energy auditor who will provide a comprehensive inspection of your home. 

An eco-friendly home is easily attainable if you have the right information and preparation. Invest in energy-efficient appliances and systems by replacing old ones. Consider investing in more substantial changes such as a landscape renovation once you have made simple changes. Home improvements that are green will save you money in the long run as well as make your property more attractive to potential buyers. 

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.

Just listed! Whether you're looking for the ideal first home or need to expand your living space, these fine homes will make the perfect choice. 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.

11520 WOODMAR Lane NE, Albuquerque, NM 87111

Wonderful opportunity in Prestigious Tanoan! This single-story gem is packed with amenities galore...Renovated bathrooms, updated flooring, owned solar and more! This comfortable 4-bedroom home enjoys 2 large living areas complete with fireplace & built-ins. The master bedroom has an oversized en suite bathroom with gorgeous tile work, dual sinks, and large walk-in closet. The second bedroom features an attached bath, and additional 2 bedrooms share a convenient Jack & Jill bath. And get ready to enjoy the beautiful NM weather in multiple outdoor living spaces: there's a spacious, private courtyard, multiple patio spaces, and yard. Welcome home!

Learn More!

208 MADISON Street NE, Albuquerque, NM 87108

Nob Hill, UNM, downtown!! Close to shopping, restaurants, breweries, transportation! Updated 3BDR/2BA home with private front courtyard, light, bright and open living/dining area with lots of windows, wood floors, wood burning fireplace! REFRIG AIR! Versatile floor plan with 2BDRS/1BA on its own wing! 1BDR & BATH on it's own wing! Updated kitchen and baths! Kitchen features lots of cabs, gas stove, built-in microwave, tile flooring! Separate laundry room! Huge backyard with backyard access, deck and large storage shed!

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 we approach the end of 2020, some analysts predict the number of foreclosures will rise. The Albuquerque housing market remains strong, but Coronavirus shutdowns have damaged the economy, and unemployment has remained high.

It's important to be prepared for the experience of dealing with foreclosure if you're hoping to find a great deal. Buying a foreclosure has many aspects similar to buying any other house, but if you know what to expect, your process will go more smoothly.

Types of Foreclosures

Foreclosed homes fall into two general categories. Home foreclosures include bank-owned homes and real estate-owned properties (REOs). In both cases, the lender is the owner of the home. Foreclosure stages distinguish the two.

A bank-owned home is in foreclosure, meaning the homeowner is not making payments, and the lender is taking steps to remove the homeowner. Bank-owned homes are sold at auction when they are foreclosed. A bank-owned REO property remains the property of the bank even if it doesn't sell at auction. In spite of being auctioned, REO properties haven't been sold yet. REO agents are usually used by lenders to sell them.

The prices of foreclosures are often significantly lower than similar properties in an area. A lot of foreclosed properties are sold at well below the market value. Buying a foreclosure can also help lower your interest rates, reduce your down payment, and save you money on appraisal fees and closing costs.

Some deals on distressed properties can be found in situations where the property isn't bank-owned.

Pre-foreclosure is one example. It means the lender has notified the borrower they have defaulted, but they might be able to avoid foreclosure if they sell the property. In short sales, lenders take less for the property than what's owed on the mortgage. Lenders can approve a short sale even when you aren't in default.

Buying a Foreclosed Home

If you want to buy a foreclosure, the following are the steps to expect:

Mortgage Preapproval

Before looking at properties in Albuquerque foreclosed by banks, preapproval for a mortgage is a good idea. A preapproval will show you're serious about buying, and it will help you narrow down your search.

Find an Agent Experienced in Foreclosures

It's important to have a foreclosure expert on your side. They can also help you find properties in your area if you don't have a specific property in mind.

Make a Competitive Offer

Even if a property is in foreclosure, you may still have to make a competitive offer. It is likely you will receive a substantial deal, but if you make an offer that is too low it may not be accepted.

Get an Inspection

Foreclosed homes are bought as-is. There will be no repairs made by the seller. When you buy a property, whatever is needed becomes your responsibility. If you make an offer, you need to know what you're getting into. If you do an inspection and you find too many problems, you should pass on the property. In the inspection, whatever is found is not going to be a strong negotiation tool - it's only there to help you decide.

You cannot do an inspection when you buy a house at auction. You don't even have the opportunity to see the inside of the home before you bid.

The Risk for Buyers

Buying a foreclosed home comes with a lot of risks. A property inspection may fail to reveal hidden problems or costs. Moreover, it's a long process.

When you buy a foreclosure, you have to deal with a lot of paperwork. The response times for banks to offers on these properties are usually slow, and if a bank is behind in foreclosures, it may take months before they respond.

It doesn't mean you shouldn't consider buying a foreclosure. To be prepared for these hurdles, you simply need to be organized.

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 to buy a new home in Albuquerque? If so, you already know that location matters. What neighborhoods in Albuquerque will best serve your needs and lifestyle? Niche.com comes out with a yearly list of the best neighborhoods in Albuquerque. Here are the top 3 neighborhoods from that list. Contact us today to view homes in any of these communities!

Nob Hill

#1 Best Neighborhood to Live in Albuquerque

Nob Hill is a neighborhood in Albuquerque, New Mexico with a population of 6,427. The Median Home Value is $271,555. It's rated as the #1 Best Neighborhood for Young Professionals in Albuquerque, #1 Best Neighborhood to Live in Albuquerque, and #1
Best Neighborhood to Raise a Family in Albuquerque.

All the schools serving Nob Hill are top rated, which includeEarly College Academy, College & Career High School, Nex+Gen Academy, Coral Community Charter School, Desert Willow Family School.

Residents of Nob Hill have nothing but good things to say about life in this community. One reviewer notes, "This is probably the best place I've lived in my whole life. Almost anywhere in the neighborhood is extremely walkable, whether it's to a restaurant, theater, school, or small business. Everyone is incredibly warm and friendly..."

Eastside

#2 in Best Neighborhoods to Live in Albuquerque

Eastside is a neighborhood in Albuquerque, New Mexico with a population of 162,145. The Median Home Value is $247,679. Eastside is rated #2 Best Neighborhood to Live in Albuquerque, #2 Best Neighborhood to Raise a Family in Albuquerque, and #2
Most Diverse Neighborhoods in Albuquerque.

All the schools serving Eastside have an "A" rating, including La Cueva High School, Southwest Primary Learning Center, Early College Academy, College & Career High School, and Nex+Gen Academy.

Of living in Eastside, one happy resident remarks, "You will meet all kinds of people, and you could grab lunch with your new friends at a local shop serving traditional New Mexican fare (smothered in green chile, of course), or you could load up on caffeine at an eclectic coffee shop. Join all the marathon bicyclists, run a trail, sleep 'til noon - whatever. In short: take your pick from the array of lifestyles New Mexico can offer you."

Balloon Fiesta

#3 Best Neighborhood to Live in Albuquerque

Balloon Fiesta is a neighborhood in Albuquerque, New Mexico with a population of 79,076. The Median Home Value is $200,783. Balloon Fiesta is rated #1 Most Diverse Neighborhood in Albuquerque, #3 Best Neighborhood for Young Professionals in Albuquerque, and #3 Best Neighborhood to Live in Albuquerque.

"A" rated schools serve the Balloon Fiesta neighborhood, which include La Cueva High School, Cottonwood Classical Preparatory School, Early College Academy, College & Career High School, and Nex+Gen Academy.

One satisified resident says "I wouldn't change the view of the mountains in the east for anything, especially with hot air balloons drifting in the early morning in front of the mountains."

Search Homes 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.

Albuquerque is currently a seller's market, so you may have problems finding a home to buy. More people are searching for homes than usual, but fewer homes are available. Therefore, the key to getting a good home deal is having a competitive edge. Here are a few tips that will help you close the deal.

Listen to Your Realtor

A Freddie Mac article discusses making an offer. Throughout the process, it emphasizes how important it is to be guided by trusted professionals, especially during times of emotion:

“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”

When making an offer, the first thing you should do is get expert advice. Over the years, Sandi Pressley and her team have helped many Albuquerque residents find their dream home. Your home buying experience will be greatly enhanced by their experience.

Understand Your Finances

Before you look at houses, you should know what you can afford and what your financial situation is like. In addition to this valuable information, getting pre-approved for a loan shows the selling agent that you mean business and are serious about buying. 

Act Fast!

Recent NAR data shows that real estate listings received an average of 3.7 offers and remained on the market for an average of 21 days. As these examples illustrate, it is crucial to remain flexible and alert while searching for a house. Once you find a home that meets your needs, you should be prepared to make an offer as soon as possible.

Make a Fair Offer

If you're buying a home, you obviously want the best terms possible. There is, however, a need to appeal to the seller. Low-ball offers are likely to make sellers question the seriousness of your offer. Do not submit an offer which will be rejected immediately. 

Stay Flexible in Negotiations

The mere fact that you submitted an offer doesn't mean it will be accepted. Keep in mind that you may be competing with multiple offers. The seller can accept, reject, or counter an offer. Negotiating in a competitive market requires nimbleness. By including flexible moving dates, a higher price, or a minimal contingency clause (conditions you set that the seller must meet before a purchase is finalized), you can strengthen your position when making an offer. 

It is more important than ever to make a winning offer on a home in today's competitive real estate market in Albuquerque. Be sure to connect with Sandi Pressley as soon as you can so that you can stay on top of the game.

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.

Albuquerque home sellers often overlook pre-listing home inspections, which are crucial to the real estate transaction.

An inspection of a property before it is listed provides sellers with a clear understanding of its condition. Before putting the home on the market, the seller can fix any issues or set the right asking price.

Pre-listing home inspections can help expedite the transaction process and reduce the chance of surprises that may arise from the inspection. Some of the benefits are as follows:

Uncover Any Issues

Sellers will be able to clearly understand any problems in their home by having their home inspected prior to listing the property. Before putting your home on the market or presenting to potential buyers, the inspector will inform you of issues that you can address and fix. As a result, you will save both time and money.

Save Money

It usually costs the same as a standard home inspection to conduct a pre-listing inspection. Inspections can be extremely valuable. The pre-listing inspection warns you of potential problems well in advance of the listing, whereas a buyer's inspection only gives you a few days to resolve them. In this way, you can compare the cost of repairs and negotiate prices without feeling rushed.

A full disclosure upfront will be appreciated by buyers, as will any repairs made. As a result, the risk of buyers returning and asking for more off the sale price is reduced.

Boost Marketability

Transparency is a key factor in home selling. In addition to disclosing information to the potential buyers, a pre-listing inspection will enhance the level of trust between you and buyer. By making the information readily available, you are able to get your home sold more quickly and make your home more attractive to buyers.

Clearly reflecting the state of the home and providing suggestions for resolving any issues that are found is the goal of a professional home inspection. By leveraging the knowledge and experience of professionals, it is ensured that important issues are not neglected, reports are received efficiently and sellers are able to move through the real estate process quickly.

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.

In the process of buying or selling a home in Albuquerque, a real estate attorney may or may not be necessary, but how do you know?

If you are able to understand their role and what they do, you can determine if they are the right person for your team.

What Do Real Estate Lawyers Do?

What are the general duties of a real estate lawyer? Obviously, they handle transactions related to real estate, but what does that entail?

The attorney may review any contracts or other agreements you had with the seller related to the purchase, including your contract. Your lender documents, your title and transfer documents can also be reviewed by a real estate attorney.

An attorney might be present at the closing in some circumstances.

Both the buyer and the seller can benefit from legal advice from a real estate attorney.

A mortgage lender can also be represented by an attorney.

How Do You Know When to Hire an Attorney?

A home closing is considered a practice of law in some states, so an attorney must be present. This is not the case in New Mexico.

Here are some reasons why you might want to hire an attorney:

• In situations where a contract is unusual in any way, having an attorney at least look things over might prove beneficial. A lawyer is almost always beneficial in complicated situations.
• Having an attorney on your side can bring you peace of mind. It can help you feel more confident, and you can make sure all of your bases are covered.
• Buying a home in a special sale might require the assistance of a lawyer. An example is a short sale, a bank purchase, an auction, or an estate sale.
• If you're purchasing a home in a different state, an attorney might prove useful.
• Your family member owned a home you are selling, and you are the executor.
• If there are several severe issues with your house or if there is damage to the structure, you might need an attorney.
• You are trying to sell your property despite having liens against it.
• There is a divorce settlement attached to the sale of your home.

What Is The Cost Of Hiring a Real Estate Attorney?

A real estate attorney's fee will vary greatly depending on what services they're providing and who's paying for that portion of the closing costs.

In some cases, attorneys will charge a flat fee that will include certain services, and in others, they will charge by the hour.

You don’t necessarily need an attorney to buy a home in Albuquerque. It can be beneficial, however, to have someone review your contracts during this time if you can afford it.

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.