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.

Living in this time of uncharted waters can cause much anxiety, frustration and confusion. As a homeowner you may be concerned about the ability to pay your mortgage. According to Computershare Loan Services in the U.S., currently 8% of homeowners have filed for forbearance. Even if your current loan servicer offers forbearance under the CARES Act, much confusion still exists about the program requirements & impact.

Here’s what you need to know:

Forbearance does not mean Forgiveness

This program was initially offered for 90 days for those impacted by COVID 19 for financial hardship but can be extended up to 1 year. However, once the forbearance period is over, the amount will need to be repaid. Meaning it is not forgiven. Options for repayment are being reviewed at this time for all mortgage lenders. The FHFA issued a statement today that mortgages serviced under Fannie Mae & Freddie Mac will not have a lump sum due at the end of the forbearance- but that only covers mortgage loans held by Fannie Mae & Freddie Mac. It is critically important that you discuss these terms with the servicer of your mortgage so you will not be in an even more difficult situation following the forbearance.

The statements below are directly from Freddie Mac (mortgagenewsdaily.com)

“Homeowners with a hardship can have up to 12 months of forbearance although servicers will typically start with a shorter timeframe, reassessing it over time. Once the hardship has been resolved the homeowners will have the following options.

• Full repayment or reinstatement. Missed payments are repaid, putting the loan back on track

• A repayment plan which allows borrowers to pay their regular monthly payments and an additional amount so they can catch up gradually.

• Payment deferral or modification. This would keep the monthly payments as originally agreed. The missed payments are added to the end of the loan.

• Loan modification. Changing the interest rate, loan term, or some other feature to lower the original payment amount.”

Will the forbearance impact my credit score?

In accordance with the CARES Act, a forbearance will not affect your credit score. However, any missed payments before the forbearance period, or an inability to repay the amount owed after the end of the forbearance, will negatively affect your credit score.

Can I refinance my loan after a forbearance?

While forbearance will not affect your credit score, the one little known fact that is extremely important is that it will affect your ability to refinance. Any two missed consecutive payments in a 12-month period will show a gap in your payment history…and this will affect the underwriting of the loan. Therefore, you would not qualify to refinance until after a 12-month period of timely payments has been established after the forbearance.

Will I be able to do a future home purchase after a forbearance?

Just as in the refinancing of a loan, your payment history will be affected and impact your ability to purchase a home after forbearance. The simple act of applying for forbearance, will be on your record and will prevent you from qualifying for a new mortgage- even if you decide not to go through with the forbearance and make all your monthly payments on time, the record will show the forbearance. Once the approved forbearance period is over, you will need to show 12- months of timely consecutive payments to eventually qualify for a new home mortgage.

What is the impact on Private Loans vs Government Secured Loans?

At this time approximately 30% of homeowners utilize private loans, which are NOT included in the CARES Act! All government secured loans are eligible. The option does exist for local governments to offer their borrowers payment suspensions. This, however, would be on a state to state basis and should be discussed with your lender.

If I start the forbearance process, can it be cancelled or reversed?

It is extremely important that you evaluate all aspects of the forbearance program and its affect on you prior to choosing the option. While you may be able to cancel your request and continue paying your mortgage monthly, the documentation to your credit file will be noted and will impact your refinancing and buying activity moving forward. With loan servicers inundated with calls and requests, getting personal assistance with removal of this from your record may prove to be difficult.

It is always recommended to speak with your servicing lender before making these decisions.

The bottom line is this: If you can afford to make your monthly mortgage payments, make them! This will ensure you have all options available to you in the future for refinance or purchase of a new property.

Here at the Sandi Pressley Team we have adapted and created successful virtual and high-tech tools that are allowing our clients to successfully buy and sell homes during this unique time.

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!

6038 DEL CAMPO Place NE, Albuquerque, NM 87109  $165,000

2 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1271 Square Feet

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!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Disclaimer: The information contained herein has been researched but is evolving on a daily basis. Each consumer should always do their own research and speak with their lender before making any decisions. Coldwell Banker Legacy/ Sandi Pressley, Inc/Sandi Pressley Team are not liable for the content contained in this blog.

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

What is a recession?

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

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

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

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

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

Doug Brien, CEO of Mynd Property Management, explains:

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

What are the experts saying this time?

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

Robert Dietz, Chief Economist with NAHB

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

Ali Wolf, Chief Economist with Meyers Research

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

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

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

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

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

HOT HOME LISTING OF THE WEEK!

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

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

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

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

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

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

Before the Move

Contact your movers

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

Buy all of your supplies in one go

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

Clean as you pack

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

Finish packing at least 24 hours before the movers arrive

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

During the Move

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

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

Provide hygiene products for your movers. 

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

Don’t use free or recycled moving boxes. 

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

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

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

If traveling for your move, plan accordingly. 

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

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

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

HOT HOME LISTING OF THE WEEK!

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

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

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

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

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

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

My services are free for buyers

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

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

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

Not all FSBO sellers cooperate with brokers

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

You won’t necessarily get a discount

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

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

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

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

HOT HOME LISTING OF THE WEEK!

12906 ALICE Avenue NE, Albuquerque, NM 87112  $172,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1443 Square Feet

This wonderful townhome has newer carpet & fresh paint in 2019. Refrigerated Air, Custom Brick fireplace and Banco (hearth). The great room is wonderful for entertaining, and an enclosed atrium opening to kitchen (window) and great room, great for dining or planting. Oversized garage, enclosed courtyard makes this your next home. Close to shopping and fwy. Don't wait!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

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

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

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

According to Investopedia:

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

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

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

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

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

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

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

HOT HOME LISTING OF THE WEEK!

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

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

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

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Everything is changing in our lives, and the real estate market is no exception. They way buyers work with agents, lenders, and all of the people involved in buying a home in Albuquerque are changing to the virtual world. But through it all, one thing is not changing: the need for people to buy homes. Buying a home can drive the local economy here in Albuquerque.

Everyone is being affected differently by the effects of this virus on the economy. If you're in a position to buy a home, you are a major economic force in your neighborhood in Albuquerque. Even though we don't know how long it will take for this pandemic to pass, there are still things right now to keep your search for a new home in Albuquerque going.

Every year the National Association of Realtors (NAR) shares a report that notes the full economic impact of home sales. This report makes the following statement:

“The total economic impact of real estate related industries on the state economy, as well as the expenditures that result from a single home sale, including aspects like home construction costs, real estate brokerage, mortgage lending and title insurance.”

That means that when you buy a home in Albuquerque, you make an impact on the local economy. While it fulfills your need for a having a roof over your head, it also generates income for appraisers, loan officers, the title company, your real estate agent, and anyone else who contributes to the process of buying a home. These people also have teams that they work with that benefit from the purchase. And when you buy a new construction home, that impact almost doubles. According that same report, the economic impact of a home sale in New Mexico is $66,912. That's a lot of people in Albuquerque who benefit from just one home sale.

When you buy a home in Albuquerque, you become an economic driver. Even if you're not ready to buy a home right now, there are things you can do to keep your own process moving forward so you’re set when the time is right for you. Contact us today to keep your home buying process on track.

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

HOT HOME LISTING OF THE WEEK!

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

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

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

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are you thinking about moving into a smaller home in Albuquerque? Many people choose to downsize, and for many reasons. One major reason to downsize is if you plan to retire to Albuquerque and don't need as much room as you had when you were raising children.

Now is a great time to consider if downsizing is the right choice, as home values have been steadily increasing for years. If you've owned your home in Albuquerque for a while, then you've no doubt built equity in it. That puts you in a great position.

Another strong reason that downsizing is a good idea right now is that mortgage rates are expected to remain low throughout 2020 at an average of 3.8% for a 30-year fixed-rate loan.

When you combine growing equity and low interest rates, it makes for an opportune time to consider downsizing.

Using Your Home Equity

For people who are looking to buy a bigger and better home in Albuquerque, the plan is to buy a home and gain equity by making mortgage payments for several years. Over time, home values generally increase, adding to that value. You then can take that built up equity and make a down payment on the larger home.

For those who want to downsize, it works a bit differently depending on your goals.

Some may chose to downsize for reasons other than retirement. Perhaps a younger homeowner may not need as much room if they are single. It may be a way to save money and simplify their lifestyle. The reasons can be quite varied.

If you've built equity in your current home, you may be able to make a huge down payment toward a smaller home, or perhaps even pay for it entirely. Either way, you're in the plus, with little or no mortgage payment.

Those who choose to put their equity toward a new home have the opportunity to make a substantial down payment or maybe even to buy their next home in cash. This is incredibly valuable if your goal is to have a minimal mortgage payment or none at all.

The Power of Low Mortgage Rates

If you still need to get a mortgage when you downsize, then now is the time to lock in the low rates while they last. You should also consider a shorter term loan, as you can pay it off faster. Loans with shorter terms have lower rates than 30-year loans, which makes them a better deal if you can afford the payments.

If downsizing is your goal, now is the perfect time to consider a transition to a smaller home in Albuquerque. With low rates and rising home prices, you're in an ideal position to make downsizing an economic boon.

Sandi Pressley and her team will be happy to discuss your goals, now matter if you want to downsize or upsize your home. Contact us today to find out how you can use your home equity and low interest rates to your advantage.

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!

9209 HENDRIX Road NE, Albuquerque, NM 87111  $185,000

3 Bedrooms / 2 Bathrooms (0 full, 2 half) / 1058 Square Feet

Terrific location! So close to shopping, restaurants & transportation in the NE Heights! Foothill trails nearby! BRAND NEW ROOF! One story 3BDR/BA/1CG with NEW CARPET & NEW PAINT! REFRIGERATED AIR! Updated baths & windows, furnace and water heater! Updated kitchen has room for bkfst table, pantry, sliding door to the patio and all appliances stay! Master bdr/bath has new shower! Light, bright and open with a great floor plan! Large backyard with open patio and room to entertain, walled for privacy. Don't miss this little gem!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Albuquerque is a city rich in history, dating back hundreds of years. As such, if you're looking to buy a home here, you might come across a home for sale that's over 50 years old. There's certainly nothing wrong with buying an older home, as they offer styles and features from the past that may not be found in newer homes.

When you buy an older home in Albuquerque, there are some things to consider before making a decision to buy.

Plumbing

Many older homes have galvanized steel water piping. This kind of pipe was used originally in the 1970's because it was thought to have a longer shelf life. Now, after several decades, it's been discovered that these pipes can rust inside, leading to dirty water and blockage.

A specialized plumber can help you decide what needs to be repaired with this type of plumbing. New plumbing technology will give you cleaner water and reduce leaking.

Energy Efficiency

Older homes were not built to be as energy-efficient as they are today. Energy was cheaper back then, and insulation was not always used in home construction. If insulation wasn't installed or upgraded since the home's original construction, then you should assess how insulated your home is and make any needed upgrades.

Single-paned windows were also used in older homes, which can add up to a huge heat loss. If you're looking to buy an older home in Albuquerque that still has this type of window, you should decide if you plan to replace them, and how much that will cost if you do so. You may also see if you can negotiate having those windows replaced as part of the sale.

Floor Plans

Older homes in Albuquerque may not have as much floor space as newer homes. The bedrooms in older homes tend to be smaller, and master bedrooms were not as popular. 

If you're considering an older home, but want more open space, you can do so by adding additions, redoing your kitchen, or removing walls to add to your open floor plan. Of course, these improvements will cost a good deal of money. Make sure you factor in these costs when looking to buy an older home in Albuquerque.

Lead

All the way up to the 1970's lead paint was used in the interior of homes. The government banned lead paint in 1978. But even with that ban, lead paint was still used on occasion. Make sure that the house you plan to buy has been tested for lead. If a wall has been painted over, there still could be lead paint underneath the tops layer.

If the paint does test positive for lead, make sure it's removed and repainted by a professional. Professional painters are better equiped to deal with unhealthy paint and make sure it's removed in a manner that won't cause any health issues.