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Is an IKEA Kitchen Right for Your Albuquerque Home?

by Sandi Pressley

Many Albuquerque homeowners find kitchen remodeling a costly project. The fact that COVID-19 has given people more time at home means that many are considering remodeling their homes.

Some homeowners choose IKEA kitchens to save money on kitchen projects.

The savings can eventually add up to thousands or even tens of thousands of dollars, but is it worth it? This is a personal decision, but there are a few things to know about an IKEA kitchen.

Designing an IKEA Kitchen

The initial design process of an IKEA kitchen poses one of the biggest challenges. In the store, you can have a designer assist you with the design. A nearby IKEA can simplify things, and you will avoid the risk of your mistakes derailing your project. But if you live in Albuquerque, you will no doubt have your kitchen shipped, as the closest store is in Phoenix.

If so, there is an online planning tool available.

The concept of an IKEA kitchen is the same as that of their furniture. Aside from being budget-friendly, things are packaged and delivered so they can be assembled right away. The work may be possible without a contractor.

One of the most important things to remember when using the design planner is to measure, measure, and measure again. It is important to consider things like window openings, outlets, and door swings.

As soon as you have your measurements, you can start planning the layout of your kitchen. This simply means putting everything where you will need it and thinking about how everything will flow.

Are the Cabinets High-Quality?

Cabinets, particularly custom cabinets, can be extremely expensive. It is significantly cheaper to buy cabinets at Ikea.

IKEA cabinets are primarily made of particleboard, which is then covered in laminate. Solid wood is a preferred choice for some people. Again, that's completely up to you.

As IKEA cabinets aren't available in custom sizes, if you have an odd space or something doesn't quite work out, you may need to use a filler piece.

Another important part of planning your kitchen is the 3D planner. You can think of it as a puzzle.

Cabinets can be equipped with features such as internal organizers, and drawer dampeners can give your cabinets a soft closing. Below the counter are the base cabinets. It is available in two depths, with the standard depth being 24 inches. Above the countertops are wall cabinets. Wall cabinets typically have a depth of 15 inches.

The tall cabinets come in handy if you need additional storage, which is somewhat like a free-standing pantry. Their height is 80 or 90 inches, and they sit on the floor. Base cabinets can either have exposed legs or toe kicks.

What About the Countertop?

Although you can buy cabinets at Ikea, you might want to look elsewhere for countertops. You can choose either laminate or veneer.

Putting it Together

As always, your IKEA kitchen will not be assembled when it arrives. A contractor can assemble them for you or you can do it yourself. You should have your kitchen delivered instead of picking it up, and you may find that if you have a larger kitchen, you have more than 100 boxes.

The way you put everything together and install the components correctly is crucial to the durability and quality of your IKEA kitchen. Think about having someone help you if you're unsure of your skills.

In addition, if you do not plan on changing your kitchen layout or shape, you could be limited in your IKEA kitchen choices. This is simply due to the modular design of IKEA kitchens and the lack of customization possibilities. If you are going with IKEA, a straight-line kitchen is the best option.

Whether or not an IKEA kitchen is worth the cost savings depends on your preferences, the layout of your kitchen, how handy you are, and what your budget is.

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!

7508 CALLE MONTANA NE, Albuquerque, NM 87113

5 Bedrooms / 3 Bathrooms (2 full, 1 half) / 3011 Square Feet

Beautiful 5 bedroom Stillbrooke home in highly sought after planned community! Main level features grand open floorplan w/gorgeous custom staircase; spacious great room opens onto breakfast nook & kitchen w/granite countertops, island & breakfast bar. Cathedral ceilings & Clerestory windows makes this home bright & light. Flexible floorplan could be 2 living areas: office & 5 bedroom plus loft, OR formal dining, greatroom, 5 bedrooms & loft/media area. Master suite on main level has backyard access, spa like en suite & huge walk-in closet. Also, a secondary bedroom on main level. Upstairs features a huge loft/media room, 3 more very large bedrooms, & additional full bathroom. Lovely landscaped backyard w/water feature & fully walled for privacy. New carpet 2019, & updated SS appliances.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Just Listed! Check Out Our Latest Hot Properties

by Sandi Pressley

The real estate market in Albuquerque has never been hotter, with homes still selling at record pace. That's why we're excited to offer 3 new listings just posted on our website. These affordable homes are perfect for first time home buyers as well as home buyers looking for an upgrade. Check these out now before they're gone!

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.

13517 SKYLINE Road NE, Albuquerque, NM 87123

$225,000

GREAT LOCATION close to foothills trails, shopping, parks, restaurants and easy access to I40! Southwest style 2BDR/2BA/2CG townhome! Private front courtyard with pergola covered patio, entertain family & friends and enjoy the best of NM weather!! Huge great room features Saltillo tile, gas fireplace, and raised ceilings! Large kitchen with eat-in space, Saltillo tie, lots of cabinets, pantry and granite countertops! Open patio and walled backyard for privacy!

Learn More!


6029 CREGGS Street NW, Albuquerque, NM 87120

$310,000

Peaceful Living Awaits! Situated on a quiet cul-de-sac street, nestled up against the Petroglyphs for optimal serene suburban living, no homes behind you, this beauty will not disappoint! Backyard is a private paradise featuring a Sparkling Gunite POOL, covered patio, & low maintenance landscaping! Attractive Saltillo tile floors and cathedral ceilings in living areas. Two living areas, an open & bright kitchen w/adjoining dining, & half bath grace the main level. Three bedrooms including the Master Suite w/VIEW balcony & his/her closets, & two bathrooms on upper level. Close to library, hiking trails, & dog park.

Learn More!


4 CAMINO DE LA VINA VIEJA, Placitas, NM 87043

$425,000

Nestled in the foothills on an acre with incredible views! Beautiful 3BDR/2BA home with the master suite on its own wing! Updated windows and Pella Doors showcasing amazing views! Radiant heat! Skylights! Tile flooring! Great room features a wood beam ceiling, vigas, Kiva wood fireplace, and a wall of windows! Master suite features double doors, walk-closet, jetted tub & separate shower. Secondary bdrs & full bath on its own wing! Private well! New septic system installed soon! Incredible outdoor living space with lots of spots to relax & enjoy nature, sunset views from the covered porch, walled back courtyard with lots of room to entertain family & friends. Huge storage shed, partially fenced lot, potting shed over the bridge, solar powered gate, backyard access!!

Learn More!

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

Get your Morning Inspiration with the Sandi Pressley Team

What You Should Know Before Flipping a Home in Albuquerque

by Sandi Pressley

House flipping has become increasingly popular thanks to reality TV shows that show house flippers making nearly $50,000 in just a few weeks. You make a nice living doing it and help a lot of families find their dream homes (since you have helped fix them up). The only problem is that you must have the ability to do the job correctly. You cannot expect to paint the walls and sell the home for a million dollars. It takes a lot of hard work and research to flip a house. Here are five steps to help.

1. Research the Albuquerque Real Estate Market

There are certain markets that are better suited for flipping houses. For example, if you're only looking to start off with $10,000 for your remodeling budget, you probably should not start flipping houses that are previously listed for millions. This kind of strategy isn't recommended because you'll end up with less than what you began with. It's a general rule of thumb that the less cash you have to start with, the less the house should cost overall. That means that the first two questions that you need to answer are:

  • How much cash are you starting off with?
  • What market can you afford to work with?

You need to know where the neighborhood that you’re planning on working with sits on the scale of A to D. A neighborhood that is classified as “A” means that the homes are wealthier. A “D” neighborhood would be considered poorer and definitely working class. Each neighborhood has its challenges and benefits, so learn about your local market before buying your first home to flip.

2. Set a Budget and a Plan

If you enter this without a plan, you're setting yourself up for failure. It need not be extravagant or crazy, or even very detailed. It is imperative that you plan how much you'll spend on the flip and how much you'll make off of it. Try not to buy anything that has serious issues that you cannot fix within your budget. This is especially true for your first home, which you want to flip quickly and easily.

3. Find the Right House

Secondly, you will need to start looking for the right house. Here are again the benefits of neighborhood classification. You need to find a house that fits your budget without significant complications. Research the property first as well to verify structural soundness, the absence of infestations, and mold problems if any. If everything you do feels like a numbers game, it is. You need to find a house that's high enough for you to make money off of it, but low enough for you to feel comfortable with the price that you are spending.

4. Renovate

Here comes the most important part of the process: the renovation. You'll be busy all day and night to flip the house since the faster you do it, the more money you'll earn. Make the house feel homey by adding special touches. Skim coat the walls to prolong their lifespan and give it a quality appearance. The more time you spend on your house, the more money you'll lose since you must pay taxes, bills, and insurance. Because of all that, you should finish the house right away.

5. Get Ready to Sell

Fortunately, the final step of the process is the easiest one, since now you just have to prepare to sell the home. It's in your hands to determine the price that you're willing to sell it for. You want to make sure the house is priced right, while still making enough money to cover the costs. An experienced Realtor, such as Sandi Pressley and her team, can help you get the highest price for your newly completed home flip.

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!

7508 CALLE MONTANA NE, Albuquerque, NM 87113

5 Bedrooms / 3 Bathrooms (2 full, 1 half) / 3011 Square Feet

Beautiful 5 bedroom Stillbrooke home in highly sought after planned community! Main level features grand open floorplan w/gorgeous custom staircase; spacious great room opens onto breakfast nook & kitchen w/granite countertops, island & breakfast bar. Cathedral ceilings & Clerestory windows makes this home bright & light. Flexible floorplan could be 2 living areas: office & 5 bedroom plus loft, OR formal dining, greatroom, 5 bedrooms & loft/media area. Master suite on main level has backyard access, spa like en suite & huge walk-in closet. Also, a secondary bedroom on main level. Upstairs features a huge loft/media room, 3 more very large bedrooms, & additional full bathroom. Lovely landscaped backyard w/water feature & fully walled for privacy. New carpet 2019, & updated SS appliances.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Will Writing a Letter to a Seller Make a Difference?

by Sandi Pressley

When it comes to buying a home in Albuquerque, the competition is stiff. You will no doubt end up in a bidding war if you do find a home you want. You need to act quick to stay ahead of the competition. More money will always make your deal more appealing, but that’s not always an option.

One way to make your offer stand out is to write a personal letter.

There is a trend for sellers to accept offers by sending a heartfelt letter that explains why their home means so much to you. This method is growing in popularity throughout the Albuquerque real estate market.

In some cases, a letter can be off-putting, so be careful to strike the right balance if you submit it. If you’re worried about not being able to write a genuine, honest letter, you might consider another method to increase the likelihood of your offer being accepted.

Don’t Use a Template

You should always speak directly from your heart when writing an offer letter to a seller. If you are being fake or using a template, this is probably going to backfire, since most sellers are smart, perceptive people who will notice you are trying to flatter or flatter them too much.

Try to Find a Connection

You may identify and highlight some kind of connection the seller and you share. For instance, maybe you both have similar hobbies, or your families have a similar number of children. Do not force it if it’s not there.

There Are Times When a Letter’s Not Worth It

If the seller is an investor or builder, you shouldn't bother with the letter. They just want to make a profit, so they don't have any emotional attachment to the property. It might be best to offer them more money or an expedited closing to get their attention.

Appreciate Their Work and Improvements

Don't be afraid to mention the recent remodeling the seller has done in their home. Houses are a lot of work and the seller's probably put a lot of effort into it, so it's good to know others are aware of that.

Do not mention your plans to remodel even if you have some ideas in mind. It’s better for the seller to know that you will enjoy the spaces just as much as they did.

Don’t Be Desperate

Don’t appear desperate or needy. Sellers prefer positive emotions to negative ones. No one likes to feel uncomfortable. They should be pleased to pass their home onto new owners who will enjoy it just as much as they did.

Last, keep it short and to the point. Not only should you be telling the story behind why this is such an important house to you, but you should also include how you intend to use it. You don't have to go on and on to make an impression.

In your final paragraph, sum up all your key points to provide a takeaway from your letter.

You may not find it easy to write a personable and engaging letter to a seller, and it is not for everyone, but in certain instances it can make the difference in getting the house you want.

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!

9519 OAKLAND Avenue NE, Albuquerque, NM 87122

5 Bedrooms / 5 Bathrooms (3 full, 2 half) / 3631 Square Feet

Welcome home to this Custom John Mark home built in 2019 with all the bells and whistles. Nestled into 0.73 acres in this prime location, walk in to soaring ceilings & a magnificent floor-to-ceiling gas fireplace as the centerpiece to this open floorplan with bright, LED lighting. The gourmet kitchen features top-of-the-line Jenn-Air appliances, gorgeous granite countertops & a cleverly concealed oversized pantry. From the living room, slide open the 3 glass doors to enjoy the INCREDIBLE backyard. This property features: a heated pool with electric cover, separate spa/hot tub, outdoor kitchen, gas fire pit with circular seating, basketball court, soccer field, meticulously planned landscaping, an outdoor accessible 3/4 bath, and electric gate entry.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Common Contingencies When Buying a Home in Albuquerque

by Sandi Pressley

You need to be aware of contingency clauses when buying a home in Albuquerque. These clauses bind the contract by requiring certain requirements to be met prior to closing. If they aren’t met, then the contract can be terminated.

Some people describe these as if-then scenarios. For instance, if you sell your home you’ll buy someone else’s.

The buying process begins with a purchase offer you make to a seller. Your contingencies may be included in the purchase contract once your offer is accepted. 

Among the most common contingencies are the following.

Selling Your Current Home

The chain of sale clause is the most common contingency where your offer might be contingent on the sale of your current home.

If your home's not sold after a certain period of time, usually 30 to 60 days, your contract will end.

As long as you are buying your home during a down market, this strategy might work for you. However, if you're trying to purchase a home during a hot or competitive market, such as is occurring now, this might not be as feasible.

Appraisals

The appraisal contingency is a way for you as a buyer to be sure the property appraises for a minimum amount. If the property does not appraise for that amount, you can terminate the contract. The earnest money can be returned in most cases.

Inspections

There’s always a good reason for having a professional inspector examine a property before you move in. An appraisal, on the other hand, is required by lenders. An appraisal doesn’t look at the physical condition of a home as much as specific factors that affect its value.

An inspector evaluates structural and mechanical elements of a home and identifies anything that needs replacement or perhaps repair. These can be used in your negotiation.

There might be a clause in the contract that requires repairs be done by the seller if they are found, or you might renegotiate based on what an inspector finds.

It’s possible that you will agree not to have an inspection if you’re in a hot market.

Financing

Financing contingencies, or mortgage contingencies, can give you the time you need to get the financing you need for your home purchase. If financing cannot be obtained, then there is the possibility that you can end the contract without forfeiting your earnest money.

You may have a financial contingency in a contract, where you have a period of time to obtain financing. Then, you may have a certain amount of time to terminate or extend your contract. The contingency is automatically waived if the contingency is not met, and you have to buy the property even without financing.

It’s important to understand that contingencies can be essential when buying a home. However, you need to use them wisely because overusing them may cause your offer to be rejected. With multiple offers flying around, sellers tend to prefer buyers with less contingencies. Even if you’re not able to beat a competitor's offer, you can at least take out contingencies and make yourself a more attractive buyer.

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!

9519 OAKLAND Avenue NE, Albuquerque, NM 87122

5 Bedrooms / 5 Bathrooms (3 full, 2 half) / 3631 Square Feet

Welcome home to this Custom John Mark home built in 2019 with all the bells and whistles. Nestled into 0.73 acres in this prime location, walk in to soaring ceilings & a magnificent floor-to-ceiling gas fireplace as the centerpiece to this open floorplan with bright, LED lighting. The gourmet kitchen features top-of-the-line Jenn-Air appliances, gorgeous granite countertops & a cleverly concealed oversized pantry. From the living room, slide open the 3 glass doors to enjoy the INCREDIBLE backyard. This property features: a heated pool with electric cover, separate spa/hot tub, outdoor kitchen, gas fire pit with circular seating, basketball court, soccer field, meticulously planned landscaping, an outdoor accessible 3/4 bath, and electric gate entry.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

What Is Earnest Money?

by Sandi Pressley

If you're planning to buy a home in Albuquerque, earnest money is just one of the terms you need to be aware of. It is often overlooked by buyers, but not understanding it can cause roadblocks once you’re ready to make an offer.

The Basics of Earnest Money

Simply put, earnest money is a deposit that the buyer makes on the property to indicate that he or she is serious about buying it. The earnest money might range from 1% to 5% of the total purchase price.

After accepting the earnest money, the seller will take the home off the market. This will enable them to start getting things ready, such as inspections.

While you wait for your closing, your earnest money goes into an escrow account. The escrow account is held by either the seller's broker or title company, or by an escrow company.

The earnest money is kept securely until closing. Then, the earnest money is deducted from your total payment and applied to closing costs.

How Much Earnest Money Should You Offer?

The earnest money is typically between 1% to 5% of the total purchase price. However, there are many causes for variance. For instance, some cities might require you to pay a fixed amount while others may prefer a percentage.

It is not unusual for earnest money deposits to be very high in highly regarded housing markets. Your real estate agent will help you know what to expect in your area.

Earnest Money Is Not a Down Payment

Many buyers are confused by the idea of earnest money—it is not a down payment. Your down payment will be anywhere from 10-20% of your home's purchase price.

Think about the price of a house after adding your earnest money and down payment, and then figure out how much you need to pay for the house down payment and closing costs later. Your earnest money is usually due with your offer, while the down payment and closing costs come later.

Is It Refundable?

You should make sure your purchase agreement includes contingencies. These are situations in which you may walk away from a deal and still be able to get your earnest money back.

As an example, you might stipulate a contingency for appraisals that are lower than the sale price.

In a market that is highly competitive, you could agree to a nonrefundable earnest money deposit. That can be very risky since the seller may hold the money if your sale collapses.

The seller can keep your earnest money if you break the terms of your purchase agreement or decide that you do not want to buy a house anymore.

That is why hiring a skilled real estate agent is crucial, like the ones on the Sandi Pressley Team. They will make sure that you fully understand what is involved before you sign anything. Otherwise, you could end up forking over a lot of money you cannot afford.

If you’re buying in a market that’s not very competitive, earnest money isn’t a requirement. It is however a good way to beef up an offer, especially if you expect there will be multiple offers on the house you want.

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!

1004 NOVAK Lane NW, Albuquerque, NM 87114  $898,000

4 Bedrooms / 4 Bathrooms (3 full, 1 half) / 4235 Square Feet

North Valley Renaissance Custom Masterpiece! Situated in a gated community close to Rio Grande/Alameda. Highlights include a well thought out floorplan with both formal & casual living spaces. Exceptional features include wood beam raised ceilings; travertine floors; quality wood doors; wood trimmed windows; custom paint; floor to ceiling fireplace; & more! Well appointed Kitchen w/Wolf & Subzero appliances; Alderwood cabinets; gorgeous granite counters; kitchen island; large walk-in pantry; kitchen nook; & eat at bar. Privately located Master Suite offers portal access, luxurious en suite w/snail shower, jetted tub, ample walk-in closet w/built-ins. Three additional bedrooms-one could be In-law Suite. Large covered portal w/relaxing spa & cozy fireplace. See Feature Page for more details!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Is Rent-to-Own a Good Way to Buy a Home in Albuquerque?

by Sandi Pressley

If you want to buy a home in Albuquerque, one of the options you might come across is rent-to-own. It may sound like a great deal at first, but as with anything, there are pros and cons. The real question boils down to if it’s the best way for you to go in order to own a home.

Here are some important things you should know before you get into a rent-to-own agreement.

The Basics

While rent-to-own properties can be appealing, there are also risks involved.

This type of agreement basically tells you that you’re going to rent a house for a certain amount of time until you gain ownership. The time you rent can range from a couple of months to a few years, depending on your contract.

A company or an individual can be the owner of a property.

A predetermined amount of each rent payment is retained by the seller. That money will go toward the equity at the time of sale.

A lease-purchase agreement and a lease-option agreement are both categorized as rent-to-own agreements. When you follow the lease option agreement, you can opt to buy the home after the time you agree upon. On the other hand, with a lease-purchase agreement, you have a legal obligation to buy the house.

The Process

While every process might have its own unique elements, some of the things to anticipate in a rent-to-own transaction include:

  • An agreement will first specify a purchase price, which may be based on the current value of the home, or perhaps on the estimated future value. Perhaps a buyer and seller agree to a price during negotiations, while the purchase price is decided when a lease expires.
  • Your monthly rent payment then becomes a part of your contract. Since a portion is being set aside toward your future purchase, the rent payment will likely be more than comparable rent prices in the neighborhood.
  • The seller can require you to cover the entire cost of maintenance, so when you enter into one of these agreements, it’s important to understand exactly what you’re agreeing to.
  • The seller usually collects a one-time fee that isn't refundable, and some sellers will apply it to the equity balance. The fee is usually calculated based on a percentage of the sales price of the house.
  • Your contract will dictate a specific lease term.
  • At the end of your lease term, if you intend to purchase a house, you’ll have to obtain financing. So there will be a closing date.

The Pros of Rent-to-Own

For buyers, the upsides of rent-to-own agreements include:

  • By progressively accumulating your down payment, you’re avoiding having to come up with a large sum upfront.
  • There will be no competition from other buyers when you are ready to buy.
  • It is not necessary to qualify for a mortgage right away, so you can build your credit score over a period of time.

The Cons of Rent-to-Own

Rent-to-own deals might sound great, but there are a lot of downsides to them.

  • Because you are being forced to set aside a down payment, you will pay more rent than you would for a comparable home. On the other hand, you could rent a home at a lower price and then put a portion of your own income into a savings account.
  • If your deal doesn’t work out, you still have to pay the option money, which is not refundable.
  • There is a good chance that you will be forced to pay all the maintenance and repairs on a home that you do not yet own.
  • You might end up with a purchase price in your agreement that is much too high if the home’s value goes down.
  • A foreclosure is one example of situations beyond your control that could cause you to lose your equity in the home.

It is important to weigh the pros and cons of your personal financial situation and determine what is best for you.

The traditional route rather than rent-to-own can be more advantageous as a home buyer in Albuquerque, especially if you have good credit.

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!

1261 MONTERREY Road NE, Rio Rancho, NM 87144  $539,000

4 Bedrooms / 3 Bathrooms (3 full, 0 half) / 3007 Square Feet

Stunning custom Tuscan style home in a highly sought-after Rio Rancho location. With beautiful Mountain and City views!! This luxurious home has a fantastic layout perfect for entertaining. Grand iron Double Entry Doors. Beautiful beamed ceiling also boasts gorgeous marbled tiled barreled ceilings. Kitchen is a chefs dream with granite counter tops, pantry, SS appliances and huge island. Large Owners suite has balcony access, fireplace and a spa like bath equipped with a jetted tub. This home has to many amenities to list, come see for yourself!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Agents, Brokers, and Realtors - What's the Difference?

by Sandi Pressley

When you decide to buy or sell a home in Albuquerque, you need to first decide who you’re going to have on your side to help you complete your transaction succesfully. Albuquerque real estate professionals come in three types - agents, brokers, and Realtors. So what really is the difference between them, and why does it matter?

There are overlaps between all three, but at the same time, distinctions.

Agents

A real estate agent is a person working in the field who has studied for and passed the relevant real estate courses. They are also licensed to practice in the state of New Mexico.

An agent represents either the buyer or the seller in a transaction. Some specialize in working with buyers, others with sellers, others do both.

An agent's job description includes collecting offers and counteroffers, negotiating, and assisting clients with the paperwork. Real estate agents are able to provide their clients with additional services that aid in tying up loose ends, such as arranging any necessary home inspections. They usually receive a commission on a successful transaction, so they receive a percentage of the sale price.

Brokers

A real estate broker is someone with more education than is required to become a real estate agent and has obtained their broker license. A real estate broker might need to complete courses in topics like insurance, taxes, and ethics. Brokers also learn topics like property management and real estate investments. The coursework is more in-depth compared to what agents are required to complete.

There are three types of brokers.

A principal or designated broker is a person who works in every real estate office. They make sure the legal compliance of the office. Additionally, they get a commission of the sales their agents make. Next, there’s a managing broker, who may have greater influence over the agents at the office. An associate broker works under a managing broker but usually doesn’t supervise others.

Real estate brokers can work for themselves. They can also hire agents who work under them.

After passing a broker's exam, you can continue to work under another broker, in which case you will be called an associate broker. This was briefly touched upon earlier.

Brokers and real estate agents share the same responsibilities. The main difference is that a broker may earn more money than an agent by having a team under their management.

Realtors

Realtor is a third term often used to denote an agent or broker. Realtors belong to the National Association of Realtors or NAR.

NAR members agree to adhere to NAR’s strict ethical guidelines. Besides agents, Realtors can also include other professionals in the industry. For instance, property managers and appraisers can be Realtors since it's a profession that originates from a group membership.

When you become a Realtor, you can use the trademark as part of your title.

This trademark has been assigned to Sandi Pressley since 1979. Sandi has listed and sold more homes than any other agent throughout New Mexico. Through her dedication and hard work, she has been able to help over 12,200 families buy or sell their property. Sandi has been the top realtor in Albuquerque as well as in the state of New Mexico for 35 consecutive years. Sandi and her dedicated team of real estate professionals stand ready to help you realize your real estate goals 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!

14319 MARQUETTE Drive NE, Albuquerque, NM 87123  $399,000

4 Bedrooms / 3 Bathrooms (3 full, 0 half) / 3000 Square Feet

Impeccably Maintained Home Ready for its new Owners! Nestled in the Foothills on a great corner lot, this home will not disappoint. Main level features two living areas, with both formal & informal dining options; a galley kitchen with dining nook; great guest bedroom next to a full bath; & closed in porch/sunroom ideal for home gym or game room. Upper level features a very roomy master suite & en suite, plus two additional bedrooms & full bath. Great curb appeal on a large corner lot & easy access to Hwy, close to hiking/biking trails, & conveniences.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Things That Can Affect Your Homeowner's Insurance Rates

by Sandi Pressley

Do you have homeowner’s insurance or considering getting it for your home in Albuquerque? It can be complicated to understand insurance rates, but it all comes down to a formula that takes many variables into account. You need to know these five factors that can affect your bottom line if keeping rates as low as possible is your number one objective.

1. Your house's age and condition.

Obviously, the age of your house and its wiring, pipes, roof, lumber, square footage, and even how many corners it has all play a role in the cost of your insurance.

The risk attributed to the house is determined by the costs associated with repair or replacement. For example, if your house was built in 1920, old pipes and wiring may not be up to code. Insurance companies will charge more to insure these materials because they are more likely to damage or catch fire.

2. In a flood zone? 

As mentioned above, if you are at high risk of destruction, your insurance will reflect that. If your home is near a river, you can expect to pay more than if it were in an area where flooding is less of a threat.

If your home is in a flood zone and you have a mortgage on it, your lender may require that you purchase separate flood insurance for your home — and that costs money. Despite your location, your mortgage company may still require flood coverage, so you should be aware of your lender’s requirements when shopping around.

3. Some dog breeds can make a difference.

Dogs can sometimes push up premiums. Certain breeds have been traditionally regarded as more dangerous and are associated with large liability concerns from your insurer, leading to a higher rate. Even if your dog is the most loving example of such a breed, it’s the insurance company that makes that general rule. So that’s why it’s important to check before buying insurance.

Three things can happen if your dog is considered a “dangerous” dog breed: you could be charged a higher rate from your carrier, your provider may cover you but exclude any liability associated with the dog, or the carrier could decide not to insure you at all.

4. Backyard attractions.

Pools, trampolines, and even backyard construction projects fall into a category called attractive nuisances that raises liability concerns (and your premiums) on the part of an insurer. If you have anything on your property which may attract the attention of minors or pose any level of danger, this will probably affect your insurance policy.

5. Proximity to the fire department.

How long would it take for the local fire department to get to your house if it caught fire? The faster they arrive, the more likely they are to minimize the damage.

A public protection class rating is required for every homeowner’s insurance policy. A PPC is based on a scale of 1-10, with one the best. Factors like nearby fire departments, the availability of fire hydrants, water towers, and even railroad tracks are considered in calculating the PPC.

It is possible that some changes can cut down your rates, but never intentionally lie or withhold key information from an application—this can result in your coverage being denied. Provide your agent with honest feedback, and they will assist you in finding the right policy and rate for your needs.

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!

5916 KATHRYN Avenue SE, Albuquerque, NM 87108  $239,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1947 Square Feet

WOW! Beautiful remodel with so many updates including ROOF, ELECTRICAL, FURNACE, EVAP COOLER, WATER HEATER, BATHS, INTERIOR PAINT, CARPET, REFINSHED WOOD FLOORS, FRONT DOOR & STORM DOOR! TWO large living areas! Kitchen features LG gas stove with double oven & Quartz countertops! Open living room features wood floors, fireplace, recessed lighting and barn door to family room. HUGE family room features wood ceiling, wood stove, extra flex room/office and separate laundry room. Huge lot with BACKYARD ACCESS & NEW GATE! Close to UNM, CNM, UNM Hospital, Nob Hill!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

What Matters Most on Your Credit Report

by Sandi Pressley

If you plan on buying a home in Albuquerque, your credit history is critical. If you haven’t reviewed your credit report in a while, you probably need to pull another one for free from www.annualcreditreport.com. This site allows consumers to retrieve their free credit report once a year from Equifax, Experian, and TransUnion. It has the main goal of ensuring that there aren't any errors in the report. Unfortunately, credit reports do contain a fair amount of errors. 

However, these repositories are not to blame because they only report what they receive from merchants and companies who issue credit. When data is sent to them, they include it. They will not be checking every time a consumer's payment history is forwarded to them. They will only check it if the consumer reports the error. 

For example, someone who has a similar name on their report might show some late payments on your report which do not belong to you. This is the kind of information to look out for. You would be surprised to see what all your report contains. You’ll see the addresses of homes you’ve lived in over the years. You’ll also see any previous names you’ve used. 

When consumers look at their report, they should look for errors, but they also want some assurances what is put out there is accurate. The key to building a good credit history is making sure that these credit agencies are reporting your timely payments. However, some data bits from these reports are more important than others. What are they?

Surely the places you've lived over the last few years aren't that important. Right? And of course any other surnames you’ve used. If you married John Doe and your name is Jane Smith, you will be recorded as Jane Doe and Jane Smith. Pretty straightforward. 

The most important factor in your credit report is payment on time. Account balances are also important. Someone with a balance that exceeds his or her limit regularly will see their scores plummet. On the other hand, keeping your balance relatively low all the time improves your scores.

If you have had the credit card for a while, a late payment on it won’t hurt your scores as long as the late payment is relatively isolated. A late mortgage payment will count more against you than any late credit card payments. However, bankruptcy or foreclosure will hurt your credit report the most, although the damage will lessen with time. What matters most to your credit report is what happened within the last few years, not what happened five or six years ago. Older, less reliable information will be ignored, provided that current payments are being reported in a timely manner. 

When you apply for new credit, an inquiry is recorded. The occasional inquiry for new credit is not detrimental to your credit score, but multiple inquiries within a short period of time will hurt your score. Not as much as a late payment or high balance account, but it will still have an impact. There will be more impact on your credit report when there are other negative marks as well.

It all comes down to making sure payments are made within 30 days after the due date and keeping balances below one-third of credit limits. These two factors are the biggest ones. A mortgage company looks at your credit report and credit score, so long as your payments, balances, and history are kept under control, your credit will be fine.

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!

5916 KATHRYN Avenue SE, Albuquerque, NM 87108  $239,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1947 Square Feet

WOW! Beautiful remodel with so many updates including ROOF, ELECTRICAL, FURNACE, EVAP COOLER, WATER HEATER, BATHS, INTERIOR PAINT, CARPET, REFINSHED WOOD FLOORS, FRONT DOOR & STORM DOOR! TWO large living areas! Kitchen features LG gas stove with double oven & Quartz countertops! Open living room features wood floors, fireplace, recessed lighting and barn door to family room. HUGE family room features wood ceiling, wood stove, extra flex room/office and separate laundry room. Huge lot with BACKYARD ACCESS & NEW GATE! Close to UNM, CNM, UNM Hospital, Nob Hill!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

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

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