Real Estate Information Archive

When you buy a home in Albuquerque, the last step is usually the final walk-through. This is an important step in the buying process, as you and your agent will need to carefully look at the condition of the home before you close the deal.

How does this process work, and what should you look for?

A walk-through happens just before settlement. It's your time as a buyer to check the property and make sure any work has been done on the home that was part of the negotiations. The seller and listing agent usually won't be there during the walk-through. That way there won't be as much pressure on you as a buyer as you inspect the property.

What should you check during the walk-through?

• Inspect the outside for any obvious damage
• Run the AC
• Turn on and off all the lights
• Test all appliances
• Run the faucets and check for leaks
• Flush the toilets and check for leaks`
• Open and shut all the doors and windows
• Verify that any agreed upon repairs have been made
• Verify that any fixtures that are supposed to be left behind are still in place

As you check these items, make a list of questions about how systems in the home work and anything else you need clarification on. 

Also, make sure you give yourself plenty of time for the inspection. This is your last chance before you complete the purchase, and you won't have another chance to make sure the home is up to your expectations.

You should also have your Agreement of Sale and inspection reports handy to make sure that anything that needed repaired has been taken care of. You should also take photos of items that have not been taken care of so that you can further negotiate repairs.

A successful walk-through may take time and effort, but it's worth it as it could save you many headaches after you've finalized the purchase.

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!

9423 MORROW Avenue NE, Albuquerque, NM 87112  $220,000

4 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1475 Square Feet

Excellent location across from SNOW PARK!! 4BDR/2BA/1CG! TPO Roof! New Swamp Cooler! Newly updated kitchen! Wood floors! Great room features cozy wood burning fireplace, wood floors and is open to the dining room. Beautifully remodeled kitchen featuring new cabinets, granite countertops, SS microwave & dishwasher, refrigerator, new tile flooring! Separate utility room and washer & dryer stay! Close to shopping, restaurants, parks, transportation and Uptown!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Now that you've found the perfect home for sale in Albuquerque, the next step is to determine how much you want to pay for the home. This leads to getting a signed offer to purchase to the seller. While the whole purchase agreement is important, there are some parts that are critical to understand before you sign. Here are 3 of those parts.

Earnest Money Deposit

The earnest money deposit is the amount of money you’ll be giving the seller when you submit your offer to purchase (or shortly after it is accepted) to show you are serious. This is not the same as a down payment, which is what you give to your lender.

Usually you pay about 1% of the price of the home to the seller, and the money is kept in the broker’s trust account or with the title company. If the seller accepts the offer, the earnest money will be applied to the purchase of the home.

Personal Property

Personal property is anything that is not permanently attached to the house. Sometimes personal property is included in the sale to sweeten the deal. These items will be listed in the purchase agreement or in a separate addendum.

Items of personal property commonly included in home sales include:

• Appliances
• Yard equipment
• Furniture

Closing Date

There are various strategies when it comes to choosing a closing date. Some people feel it’s best to close escrow as late in the month as possible. This is because prepaid interest, which you’ll need to pay at closing, is prorate from the date of closing to the end of the month.

If you're keeping a tight leash on your cash flow, you may want to close escrow early in the month. Your prepaid interest charge will be higher. Yet, because mortgage interest is paid in arrears, you will skip two mortgage payments instead of one.

That said, there are some times that are better for closings, for various reasons:

• Avoid closing escrow near the fall and winter holidays, especially Thanksgiving, Christmas Eve or New Year’s Eve. Real estate professionals, like everyone else, take time off to be with friends and family.

• If you are both selling and buying, you may need a simultaneous close, allowing both escrows to wrap up on the same day. This is a delicate process and it does have its shortcomings, which can be explained to you if you are in this situation.

Sandi Pressley and her team has the experience to walk you through the purchase agreement, line-by-line, to ensure you understand what you’re signing. 

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!

13504 DESERT ZINNIA Court NE, Albuquerque, NM 87111  $1,050,000

4 Bedrooms / 4 Bathrooms (4 full, 0 half) / 4556 Square Feet

Highly Sought after High Desert Contemporary Southwestern Beauty. Custom built for Original owner. Well Situated on .86 acre lot to maximize the spectacular Mountain and City views! Incredible floor plan features 4 spacious en-suite bedrooms all with private bathrooms, Dual Masters, with the largest one on main level. Gorgeous, sunny kitchen with quartz counter tops, opens onto bright, light breakfast nook and family room. Complete with kitchen island, double ovens. Soaring ceilings throughout - with walls of windows to enjoy the views from every room. Approx 1500 sqft of wrap around decks/patios on front and back of home can be accessed from all bedrooms. Gorgeous serene courtyard with water feature. Spectacular low maintenance landscaping front and back! Newer TPO top of the line roof.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are you thinking about buying a home in Albuquerque, but not sure if certain forms of income will help you qualify for a loan? Lenders want you make sure you can repay your loan comfortably. They can determine this by comparing your monthly income with monthly debt. If you work for an employer or for yourself, this can be done by reviewing recent paycheck stubs, W2 forms and/or tax returns. But if you're looking for additional income support to buy a home in Albuquerque, you may not be aware that there are other income sources that lenders can use.

Support Income

If you are receiving spousal or child support, this income can be used to help qualify. There needs to be a record of timely payments, which can be shown by providing copies of bank statements showing the monthly deposits being made and when. Spousal support payments need to continue barring the ex-spouse receiving the income has not married. Child support payments typically continue until the child turns 18.

Investment Income

If you have any investments, the dividends and interest can also be used. This is providing that the income is shown to be consistent over the previous two years. Also, your name must appear on the statement. Any other names on the statement will cause the lender to divide up the income among all who appear on the investment account. Income is averaged over the previous 24 months in order to arrive at a qualifying amount. 

Disability Income

If you are receiving disability payments due to an injury on the job, this can be used as well. This can be verified by reviewing a copy of the disability policy benefit statement. This income may also be used as long as the lender makes the determination the income will likely continue well into the future, for a minimum of three years. It can sometimes be the case that the disability is shorter term in nature, or the lender needs more information about the nature of the disability filing. 

Social Security Income

In order for the lender to use social security income, all that is needed is a copy of the social security awards letter. A request for this letter is made directly to the Social Security Administration either by the borrower or the lender.

Bonus Income

Like other forms of income, bonus income can be counted as long as there is a regular history of having received it. Bonus income should be both consistent and at regular intervals. Bonus income is averaged and should be paid monthly or sometimes quarterly. An annual bonus most often won’t be used. It’s thought that a holiday bonus in December may not be readily available in another time of the year. Verification of the terms of the bonus can be obtained directly from the employer.

Part Time/Seasonal Income

With a two year history of receiving part time income as well as seasonal work, such as during the holidays or during the summer, this income can also be counted when adding up qualifying income. The part time income should also be relatively consistent. Seasonal income may be counted, depending upon the lender’s internal guidelines, again with evidence of receiving it for the most recent two years and paid out in a consistent manner.

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!

13504 DESERT ZINNIA Court NE, Albuquerque, NM 87111  $1,125,000

4 Bedrooms / 4 Bathrooms (4 full, 0 half) / 4556 Square Feet

Highly Sought after High Desert Contemporary Southwestern Beauty. Custom built for Original owner. Well Situated on .86 acre lot to maximize the spectacular Mountain and City views! Incredible floor plan features 4 spacious en-suite bedrooms all with private bathrooms, Dual Masters, with the largest one on main level. Gorgeous, sunny kitchen with quartz counter tops, opens onto bright, light breakfast nook and family room. Complete with kitchen island, double ovens. Soaring ceilings throughout - with walls of windows to enjoy the views from every room. Approx 1500 sqft of wrap around decks/patios on front and back of home can be accessed from all bedrooms. Gorgeous serene courtyard with water feature. Spectacular low maintenance landscaping front and back! Newer TPO top of the line roof.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Buying a home in Albuquerque involves making important decisions. One of the most important of those is how you plan to move your belongings. If you plan on hiring a moving company in Albuquerque, the thing to remember is that not all moving companies are operating on the same level. There are a number of things that can go wrong during a move. The question is how the moving company you hire will handle those issues and protect your items.

Here are some common moving disputes, and how you can handle them:

Damaged or Lost Items

Things tend to break or get damaged during a move. It's inevitable. Even when you hire pros to help, it can happen. How can you minimize the risk?

A professional mover will offer the option of buying Full Value Protection, which is a type of insurance that fully covers the cost of any broken or lost items. Without this protection, you will be asked to sign a Waiver of Full Value Protection. In that case, only 60 cents for each pound will be covered. That's not very much compensation, especially if you have expensive items that don't weigh very much.

Before you move, take the time to photograph your possessions, or at least the most expensive ones. If anything is damaged or lost, you should submit a claim as soon as possible, as the moving company can take up to 30 days to acknowledge the claim and 120 days to settle it.

Here are a few things to do during the move to make sure any damages are accounted for:

• Look over all of your items to check for damage as you unpack.
• Make a list of any damaged or missing items.
• Take photos of any damage found.
• Determine the replacement costs for damaged or lost items.
• Fill out a claim form with the moving company immediately and return it with your photos. Make copies for your records.

Hostage Shipments

There have been cases where a disreputable mover will hold a delivery hostage until the owner is forced to pay an additional fee. The federal government calls these 'hostage shipments.'

If a mover does try to hold your things hostage, there is recourse. The Federal Motor Carrier Safety Administration has a Consumer Complaint Hot line that you can call at (888) 368-7238. The federal organization claims that it tries to respond to hostage shipment as quickly as possible, so you can expect some sort of resolution.

Late Deliveries

Late deliveries are not completely unexpected. But there have been cases where a delay an last several weeks. Not all companies do this of course. Make sure that you carefully research moving company reviews for any reports of late deliveries.

Keep in mind that delays of some kind are possible. If you need certain things that are really important, like a computer, medication, or other critical items, make sure you take them in your car instead of the moving truck.

Moving to a new home is a never a trouble-free process. But if you keep these tips in mind, you can lessen your chance of having issues with movers, and know what to do if you do have any problems.

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!

6017 CROWNPOINT Drive NE, Rio Rancho, NM 87144  $299,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 3086 Square Feet 

4 BDRS/3BA/2CG PLUS two office/flex rooms! TWO livings spaces! Kitchen features walk-in pantry, island, breakfast nook and bkfst bar. Light, bright and open floor plan! REFRIGERATED AIR! UPDATED WATER HEATER! Large secondary bdrs have walk-in closets & laundry room located upstairs for convenience! Office/flex room on the main level with 3/4 bath! Newly painted interior and new carpet! Master suite features a balcony, walk-in closet, dual sink vanity, garden tub and separate shower. Backyard features a covered patio, balcony off master suite, walled for privacy and easy care rock landscape!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

You've found the perfect home for sale in Albuquerque and closed the deal. Now for the fun part - buying furniture! But hold on, don't get carried away. Doing so can lead to costly mistakes. When it comes to buying furniture for your home, there are a number of points to consider to make sure you buy the right items.

Measure Twice, Move Once

Will your new luxury leather couch fit through the front door, or any of your doors? There’s nothing more frustrating than buying a piece of furniture and not be able to get it in the house. Also, consider the size of the room you’re placing your furniture. Would it be too big or small? Make sure that you get the measurements on the furniture you’re buying and compare it to the space you plan to put it. You can also download an app for your pad or phone that will help you visualize how furniture will look in your home.

Maintenance

Hardwood furniture is certainly appealing and will last for many years, but it does take more maintenance than furniture made with synthetic materials. Make sure that you have the time and know-how to care for hardwood furniture before you invest in it.

Avoid Fads

Will that trendy chair or sofa still be in style next year? If you want to avoid having your home look dated, consider more classic styles. Classic styles will outlive trends for generations and always keep your home looking good.

Take Some Time

There’s no law that says you have to buy the first piece of furniture that strikes your fancy. It’s a lot like buying a home. Did you buy the first home you saw? Probably not. When you take your time, there’s more of a chance of finding the best products that will compliment your home.

Think Ahead

What are your living plans over the next few years? Are you staying in your home indefinitely? Or are you planning to upgrade in the a few years? Base your furniture choices on your plans as much as possible and you won’t have to spend more money than you need to if you do move.

Cost and Budget

Lay out a budget before you dive into the furniture stores or shop online. And of course, furniture stores have all sorts of sales and plans to get you to buy more than you need. Stay focused on your goals and budget. If you buy furniture using credit plans offered by these store, you will pay more than you need to for items that are not necessarily of higher quality. Remember – furniture stores exist to make money.

If you keep these thoughts in mind when buying furniture for your home in Albuquerque, you can make great choices that will make your home look amazing for years to come.

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!

13504 DESERT ZINNIA Court NE, Albuquerque, NM 87111  $1,125,000

4 Bedrooms / 4 Bathrooms (4 full, 0 half) / 4556 Square Feet

Highly Sought after High Desert Contemporary Southwestern Beauty. Custom built for Original owner. Well Situated on .86 acre lot to maximize the spectacular Mountain and City views! Incredible floor plan features 4 spacious en-suite bedrooms all with private bathrooms, Dual Masters, with the largest one on main level. Gorgeous, sunny kitchen with quartz counter tops, opens onto bright, light breakfast nook and family room. Complete with kitchen island, double ovens. Soaring ceilings throughout - with walls of windows to enjoy the views from every room. Approx 1500 sqft of wrap around decks/patios on front and back of home can be accessed from all bedrooms. Gorgeous serene courtyard with water feature. Spectacular low maintenance landscaping front and back! Newer TPO top of the line roof.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Every home buyer in Albuquerque wants to make the perfect offer when buying a home. Ideally you won't have to negotiate and you can move on with the deal and move into your new home.

Sure, that could happen. But usually, there's going to be some negotiation to nail down the perfect offer. But sellers are known to reject offers for a variety of reasons. Or they make counteroffers. This is especially likely if you bid low, or when you’re up against multiple competing offers.

Here are a few rules you should know before you start negotiating:

Act Fast

When the seller makes a counteroffer, don't sit on it. You should respond as quickly as possible. The longer you wait, the more space you leave for another buyer to swoop in and nab the property. Also, if a seller senses hesitation, they may decide to withdraw their counteroffer before you even have a chance to respond.

Raise Your Price (Within Reason)

Of course you don't want to overpay for your home. But you may have to up the offer, especially if you initially made a lowball offer. You agent will lend their expertise to determine how much money you should add to the offer.

Before you make an offer, talk with your agent about how high you’re willing to go if the seller doesn’t accept your bid. Then your agent can make the counteroffer look even more attractive by pointing out similarly priced “comps”, recently sold homes in the area of the home that are comparable in terms of square footage and features.

As your agent negotiates, it can feel like things are escalating quickly. It’s stressful. You may feel a sudden urge to do whatever it takes to win.

Before you go overboard, there are two things you must keep in mind:

• You can’t exceed the monetary confines of the pre-approved mortgage you received from your lender.
• You shouldn’t overextend your budget.
• Because your counteroffer has to be an amount you’re comfortable spending on a home. You want that new house and to keep living your life. Plus: You’re not out of options yet.

Increase Your Earnest Money Deposit

Increasing your earnest money deposit (EMD) — the sum of money you put down to prove to the seller you’re serious (i.e., “earnest”) about buying the house — is another way to show the seller you have more skin in the game. A standard EMD is typically 1% to 3% of the sales price of the home. Making a counteroffer with a 3% to 4% deposit could be what you need to persuade the seller to side with you.

Demonstrate Patience About Taking Possession

Depending on the seller’s timetable, changing your proposed possession date, the date you take over the property, could sweeten the deal. If the seller wants to stay in the home for a few days after closing, try offering a later possession date. You could also draw up a “rent-back” agreement, meaning the seller pays you rent for staying in the home for a set period of time after the closing date.

Negotiating the right price for a home for sale in Albuquerque can be a challenging task. But if you follow these tips, you can have a better chance of getting the perfect deal on your new home.

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!

13504 DESERT ZINNIA Court NE, Albuquerque, NM 87111  $1,125,000

4 Bedrooms / 4 Bathrooms (4 full, 0 half) / 4556 Square Feet

Highly Sought after High Desert Contemporary Southwestern Beauty. Custom built for Original owner. Well Situated on .86 acre lot to maximize the spectacular Mountain and City views! Incredible floor plan features 4 spacious en-suite bedrooms all with private bathrooms, Dual Masters, with the largest one on main level. Gorgeous, sunny kitchen with quartz counter tops, opens onto bright, light breakfast nook and family room. Complete with kitchen island, double ovens. Soaring ceilings throughout - with walls of windows to enjoy the views from every room. Approx 1500 sqft of wrap around decks/patios on front and back of home can be accessed from all bedrooms. Gorgeous serene courtyard with water feature. Spectacular low maintenance landscaping front and back! Newer TPO top of the line roof.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Homes are selling fast in Albuquerque, and it's all due to one of the hottest real estate markets in recent memory. Many people thought that the pandemic would adversely affect the local Albuquerque real estate market. But the good news is that home sales are booming.

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. Don't let these fine properties pass you by, because they will go fast.

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

910 NICHOLAS Court, Bernalillo, NM 87004

$550,000

Exquisite Custom Home w/Stunning views, situated in gated community. Grand foyer features majestic circular staircase w/regal iron banister; Open & bright living spaces feature diamond plaster finishes, raised tray ceilings, builtins, custom lighting, Juliet balcony, office w/sep entrance off carport & much more! Enjoy Sandia Mountain views from main living room w/2 way fireplace; Open chef's kitchen w/gorgeous cabinets & granite counters, SS Jenn-Air applns, large pantry, & eat at kitchen island; dining room shares 2 way FP & opens to covered patio. All bedrooms on upper level feature full bathrooms. Master suite w/breathtaking views & spa like en-suite w/dble shower & jetted tub. Enjoy outdoor living from balcony or patio spaces below; tranquil water feature; & blt in grill.

Learn More!

11200 WOODMAR Lane NE, Albuquerque, NM 87111

$539,000

TANOAN EAST-CORNER LOT! 5BDR/4BA/3CG featuring an open floor plan & 2 living areas! Beautiful windows abound with lots of natural light! UPDATES include two evap coolers! Two new water heaters! New gas cooktop & disposal! Living room & family room with fireplaces. One bdr/study/office on the main level! Kitchen features a new gas cooktop, an island, a built-in wall oven, tile flooring, a walk-in pantry & spacious breakfast nook. Large secondary bdrs with walk-in closets and one bdr with its own private bath makes a great guest suite! Owner suite features a balcony, fireplace, his & her walk-in closets, dual sink vanity, separate shower and garden tub! Private backyard features a beautiful pond, grass, trees & shrubs and a covered patio for outdoor living! Private gated community of Tanoan!

Learn More!

804 ADAMS Place SE, Albuquerque, NM 87108

$399,000

Magnificent Rex Wilson remodel of this amazing Pueblo style home. From the minute you enter you will feel like you are on vacation (feels like a Taos Hacienda), beautiful hardwood floor, custom carved beams, corbels kiva fireplace, leads into a wonderful custom kitchen. Skylights bring in natural light, and Pella windows, hardwood doors updated electrical and an amazing wrap around covered patio embraces beautifully landscaped private oasis. ''And'' a detached casita heating cooled, presently used as a theatre room (projection equipment, screen and couches will stay) and of course a totally remodeled bathroom, and could easily be an in law quarters.

Learn More!

5108 WILD PLUM Way NW, Albuquerque, NM 87120

$839,000

Stunning Custom Home in desirable, gated neighborhood! On a quiet cul-de-sac this luxurious home has a fantastic layout perfect for entertaining. Chipped edge Travertine tile downstairs, lighted niches, viga ceilings and tile accents on the walls/ceiling are just few of the features this home has to offer. Kitchen is a chefs dream with granite counters, Wolf gas cooktop, pot filler, warming drawer, 2 dishwashers, 2 sinks and a wine cooler that holds 88 bottles! Master suite has balcony with access from bedroom and private sitting room. Two-way fireplace, bidet, california closets (in all rms), jetted tub and a steamer in the shwr make this a perfect retreat. Theater room with projector, recliner chairs, movie posters and popcorn maker all convey! So much more you have too see to believe.

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.