Real Estate Information Archive

Are you planning to buy a home in Albuquerque and work for yourself? These days, it's more common and popular in Albuquerque to be a freelancer, contract worker, gig worker, or anyone self-employed. The downside is that there are no benefits such as health insurance. The same time, there are more upsides for professionals who can work remotely.

One of the advantages is the freedom and flexibility you have to create your own schedule and earn unlimited income. You can also create your own lifestyle by balancing work and personal time.

Freelancers and contractors may encounter a problem, however.

Is it possible to get a mortgage?

It can be difficult to prove your income if you do not have a traditional employer when you apply for a mortgage. Lenders will also scrutinize your application more closely.

Keep Up with Relevant Documents

It's easy to lose track of your earnings and expenditures over time, but when it comes time to apply for a mortgage, being disorganized can become a problem. You can expect to have ups and downs in your income when you're a freelancer or self-employed. A lender wants to see your long-term earnings average. If you can show your lender at least several years' worth of earnings documentation, you should be able to calm their fears.

A pattern of earnings needs to be demonstrated. You might have to delay buying a home until you can do that. The best way to show steady earnings is to show trends that are on the rise.

Furthermore, if you are self-employed, you likely try to write off as much of your business expenses as you can. Obviously, you want to show as high an income as possible, so if you are planning to buy a house in the near future, consider your deductions accordingly.

Rather than W2s, you will need to show your 1099s from the past two years. In addition to your tax returns, you may need to provide bank statements and profit and loss statements. Additionally, you can provide letters from clients proving your relationship is stable.

Income Calculation

The way you calculate your income as a freelancer is different. By dividing the past two years of your adjusted gross income by 24, your lender will arrive at your average monthly income.

Make the most of your savings

In order to avoid paying private mortgage insurance, you should aim to save at least 20% of the home's purchase price. With that in mind, it's best to make a large downpayment in order to demonstrate your reliability as a borrower.

Organize Your Finances

If you're self-employed, you can expect to face more hurdles when buying a home. You will most certainly be held to a higher standard financially, so be prepared.

Ideally, you need a credit score of at least 740. The higher the score, the better.

Put a plan in place to pay off your debt, including your credit cards. A lender's willingness to lend to you is heavily influenced by your credit utilization. It is ideal to use less than 30 percent of your credit limit.

Check your credit report before applying for a home loan. By doing this, you can see where you need to improve and where possible errors may be occurring. It is not uncommon to find errors in credit reports.

Before you apply for a home loan, refrain from opening new accounts or lines of credit, because that will negatively impact your credit score.

Finally, separate your personal and business bank accounts before applying for a mortgage. Your business should not use a personal bank account.

Getting a mortgage as a freelancer is definitely possible, but also more challenging. Prepare yourself for it as much as possible, and you will be more successful in the long run.

HOT PROPERTY OF THE WEEK!

8116 CORN MOUNTAIN Place NW, Albuquerque, NM 87114

Popular floor plan 4BDR/3BA/3CG plus office/study on the main level plus a large loft! Light, bright & open floor plan with lots of living space featuring an oversized family room with stacked stone fireplace, wall of windows & soaring ceilings, separate living room, formal dining room w/new flooring! Entertainer's kitchen features beautiful cabinetry, solid surface countertops, recessed lighting, island/bar tile flooring, pantry & sunny bkfst nook! Private master suite features huge walk-in closet, dual sink vanity, garden tub & sep shower! Covered patio, shrubs, trees, rock landscape. In the heart of Ventana Ranch West close to schools, parks, pathways, shopping!!

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.

It can be daunting to begin the process of building a custom home rather than buying one of the existing ones in Albuquerque. You know what you're getting when you buy an existing home. There is a lot of uncertainty when doing a custom build.

Choosing a home builder is the first thing you need to do.

What you should know about choosing a builder and some tips to help you along the way are detailed below.

Exactly What is a Home Builder?

This may sound like an obvious question, but not so much. The term home builder has a broad definition. Builders are contractors who construct residential housing, but there are subcategories of home builders.

There are home builders available for hire. An in-house team of professionals works for the company you hire. It is a turnkey project that the team manages from start to finish.

A general contractor is another option. The general contractor will hire and manage workers. Your house will be built by this contractor. General contractors also obtain building permits and materials.

It may be that you hire your own architect to design your home, and then you hire a general contractor to build it.

An agreement with a general contractor typically includes a fee of up to 20% of the project's cost, which covers the contractor's services.

There are also the options of hiring project managers or hiring a construction management company. Subcontractors may be hired and materials may be obtained, and they may charge fees for overseeing the project.

Choosing The Right Builder in Albuquerque

Knowing the different types of homebuilders, how can you select the best one for your project?

• Identify your niche. Considering your budget, home size, and style are all important when building a house. Ensure that the company you choose specializes in the niche that your home falls under. You wouldn't hire a company specializing in luxury properties if you were building a starter home.
• Prepare a list of the most important things to you and a clear vision of what you want before you start talking to builders.
• When comparing contractors, ask to see examples of their work. Furthermore, you'll want to know how long the company has been operating.
• You can learn a lot about contractors from online reviews.
• Credentials should be checked before hiring a builder. The state license and insurance should be up-to-date.
• What kind of warranty does the builder offer?
• A builder's recently built homes should be viewed in person, and if possible, you should take a tour, although this isn't always possible.

Questions to Ask Builders

At least three builders should be interviewed. You must have a clear understanding of what your expectations and timeline are before you do this, as was discussed above.

Among the questions you should ask are whether or not they are willing to provide references and if they offer a guarantee. Once you select a builder, every detail of what you agree upon should be in writing, including how allowances are determined, the type of materials they use (such as copper or plastic plumbing), and how you will work together.

You should call references provided by potential builders. Vendors and subcontractors should also be contacted.

As a first step, you might consider contacting your local home builder's association. They can provide you with a list of local builders.

In addition to real estate agents, such as Sandi Pressley and her team, you may be able to get help from friends or relatives who have worked with a builder.

Building your own home in Albuquerque can be an exciting and life-changing experience. Make sure it’s a positive decision by following these tips above.

HOT PROPERTY OF THE WEEK!

14412 OAKWOOD Place NE, Albuquerque, NM 87123

A gem nestled in the Foothills! Built in 2000, this 4-Bedroom custom home comes with all the bells & whistles. At 4,665sqft, this home boasts incredible living space made for entertaining. Open kitchen is a chef's delight w/ great new appliances, 5-burner Gas Range, gorgeous granite, large pantry and tons of seating. Spread out w/ the lower level entertaining area, or go outside on any of the multiple balconies, or through the huge backyard with hot tub and so many great views. This smart home features lights that turn on automatically as you enter the room & is wired with surround sound. The Master Suite showcases a luxurious bathroom complete with jetted tub, oversized shower, & custom California Closet. With a water softener, humidifier, and laundry chute, this home truly has it all.

Learn More!

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

Are you selling your Albuquerque home and have dogs? We know you love your dogs. Pet odors or the appearance of a house that has been occupied by pets can make selling a home difficult. The smells your dogs leave behind will be noticed right away by potential buyers.

If you are putting your house up for sale, how can you prevent the smell of pets from permeating the house?

Steam Clean All Fabrics

The best absorbent surfaces are those with a soft texture. As a result, you need to steam clean everything in the house that is fabric.

Dogs are known to stick their paws on everything and leave behind oils, odors, and fur. For this reason, you need to clean carpets, rugs, furniture, and even drapes. Even though it may seem extreme, it could make the difference between selling your home or not.

Grooming

As you likely groom your dog regularly, this is a good time to give them a grooming. But make sure you hire a professional. Therefore, the cleaner will do a better job, and their water will flow down the drain instead of yours.

Brush your dog outside regularly while your house is on the market to prevent hair from falling onto your sofa or rugs.

Clean Tile-Floor Grout

Tile grout absorbs pet stains and smells as well. Stains and odors can be removed by steam cleaning the grout. If the old grout looks bad, hire a professional to remove it and replace it.

Get an Air Purifier

Since you've grown accustomed to pet odors, you might not even notice them. An air purifier with a HEPA filter will remove hair and dander from the air.

When your air filters are changed regularly, most air ducts do not need to be cleaned. If, however, dander and fur seem to be taking over your home, you may need to hire a company to clean your air ducts.

Use Enzymatic Cleaners

Enzymatic cleaners are specially made to remove pet odors. They're made from beneficial bacteria that eat stains and odors.

They’re formulated to get rid of a specific type of stain, so a cleanser that targets urine won’t be the same as one for vomit. Apply them liberally to stains regardless of how old they are.

Get Rid of Scratches

The toenails of pets leave recognizable marks on walls and doors. If your walls and doors are made of synthetic materials, you can just paint over the marks. To fill in scratches on wooden doors, use a wood-filling pen. Steel wool or fine sandpaper should be used to remove small scratches, followed by mineral spirits, wood filler, and polyurethane. Refinishing hardwood is a good investment when there is major damage.

Absorb Odors With Charcoal

Charcoal is great for pulling moisture and odors out of the air. Place inconspicuous little bags of it in places your pets love most. Or, just strategically stash some charcoal briquettes around the house.

Spot Clean Furniture Daily

Keeping your dog off the couch isn't always possible, so cover your freshly-cleaned furniture with throws or pet covers, and wash them at least once a week. Vacuum rugs and carpets every day. Pet smells sink in fast.

Get a Sniff Test

You’ve scrubbed everything, and you think your house smells like a dog has never set foot in the door. Get a second opinion as to whether the odors are gone. You may be nose-blind. Ask your agent to walk through and give you an honest opinion.

HOT PROPERTY OF THE WEEK!

9905 DENALI Road NE, Albuquerque, NM 87111

PRIDE OF OWNERSHIP! Great opportunity to make this immaculate & lovingly cared for home your own! Situated in the highly desirable Far Northeast Heights Academy Hills subdivision, this gem will not disappoint. Featuring a light, bright open floorplan with impressive high-end finishes throughout. Main level includes an inviting great room appointed with a vaulted beamed ceiling; wood burning fireplace with blower & built-ins; French doors with side panels to invite in the natural light & opening to the view deck overlooking the backyard & Sandia Mountains. Wood floors grace the formal dining room & eat in kitchen with high-end appliances & fixtures; pot filler; separate coffee bar; enjoy the views from the large window next to the eat at bar; ample pantry & more.....

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.

If you're ready to enter the luxury home market in Albuquerque, there's no better place to start than with our latest featured luxury listings. Whether you're looking for extra room for your family, meticulous contruction and features, or a spectacular view, these homes are sure to please.

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.

14412 OAKWOOD Place NE, Albuquerque, NM 87123

A gem nestled in the Foothills! Built in 2000, this 4-Bedroom custom home comes with all the bells & whistles. At 4,665sqft, this home boasts incredible living space made for entertaining. Open kitchen is a chef's delight w/ great new appliances, 5-burner Gas Range, gorgeous granite, large pantry and tons of seating. Spread out w/ the lower level entertaining area, or go outside on any of the multiple balconies, or through the huge backyard with hot tub and so many great views. This smart home features lights that turn on automatically as you enter the room & is wired with surround sound. The Master Suite showcases a luxurious bathroom complete with jetted tub, oversized shower, & custom California Closet. With a water softener, humidifier, and laundry chute, this home truly has it all.

Learn More!

315 LAGUNA SECA Lane NW, Albuquerque, NM 87104

Private gated community of The Gardens on the Rio Grande! Minutes to Old Town, downtown, parks, shopping, restaurants! Incredible outdoor living & entertaining space with 3 sets of patio doors to the lush interior courtyard, rose bushes, shrubs, trees & beautiful serene fountain! Relax & unwind in the custom spa with waterfall! 3BDR Plus OFFICE/STUDY/3BA/3CG! Formal dining! Oversized great room with soaring ceilings and Kiva fireplace. REFRIGERATED AIR & FURNACES! RADIANT HEAT! Skylights! Gourmet kitchen with granite countertops, island w/wine rack, SubZero fridge, gas cooktop & convection oven! Large secondary bdrs with Jack-N-Jill bath! Elegant mst suite looks onto courtyard & features Kiva fireplace, sitting area, jetted tub, sep shower, dual sink granite vanity & two closets!

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.

More and more Albuquerque home buyers are working remotely, which has changed what they want in a home. Businesses are choosing to delay reopenings or go remote full-time, and buyers are looking for homes with more space to accommodate their work needs.

It is assured that you will find a buyer for the extra room you have in your home if you no longer need it.

Working Remotely is Here to Stay

There are still many Americans who work remotely. According to a recent Garter, Inc. poll, many organizations haven't yet returned to their offices: “. . . 66% of organizations are delaying reopening their offices due to new COVID-19 variants.”

Remote working is not just a trend among companies - workers are also seeking more flexibility. A study by PricewaterhouseCoopers found that nearly one in five employees would prefer to work remotely in the future. Many people are leaving jobs to pursue remote work opportunities, according to the study: “Among employees looking for new jobs, almost one in ten say it’s because they moved away from the office while working remotely and don’t want to go back on-site.”

More Remote Work Means a Greater Need for Home Offices

Today's buyers prioritize finding homes with more space so they can work from home comfortably. According to the American Institute of Architects survey of 2021, 69% of respondents still wish to have an office at home. The study also shows that more people are looking for multiple spaces in their home to conduct remote work and virtual meetings.

How Does This Affect You?

In case you have extra space in your house and are no longer using it, buyers are interested, so now may be a good time to sell.

Sandi Pressley and her expert team will help make sure your listing highlights many of the most sought-after features, such as a home office. However, if you have an unused room, consider staging it as a location where remote work can be accomplished. You can enlist the help of your agent to evaluate and prepare your space for potential buyers, as well. You'll get recommendations for how to stage a room, where to draw attention, and what other sellers are doing to make their houses stand out.

Due to the continued rise of remote work, more buyers are looking for homes that can accommodate multiple home offices. If you have extra room you’re no longer using, consider selling. Discuss the unique features of your home with us and how you can utilize any extra space to appeal to today's buyers.

HOT PROPERTY OF THE WEEK!

6424 PRAIRIE Road NE, Albuquerque, NM 87109

Welcome to this well maintained 2 bd | 2 ba Townhouse in the sought after NE Heights. Master bedroom has his/hers separate bathrooms and walk-in closets. NEW CARPETS, FRESH PAINT (10/2021), NEW WATER HEATER (2021), NEW A/C (REF AIR), NEW HEATER (6/2021), NEW TPO ROOF (2016), NEW SKYLIGHTS (2020). The Murphy bed in 2nd bedroom makes space for a great office. Home also has a detached hobby room. Low-maintenance, private backyard with access to a roof deck! Schedule a showing today!

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.

In the last 18 months, buyers' preferences have changed. An AIA survey of home design trends was recently released for Q3 2021 by the American Institute of Architects. It found that:

• 70% of respondents want more outdoor living space
• 69% of respondents want a home office (48% wanted multiple offices)
• 46% of respondents want a multi-function room/flexible space
• 42% of respondents want an au pair/in-law suite
• 39% of respondents want an exercise room/yoga space

Albuquerque homeowners who wish to add any of the above options have two options: renovate their existing homes or purchase a home that already contains those features. You may be influenced by factors such as:

• Possibility of relocating
• The cost difference between renovating and buying
• Find an existing house or design a new one that has exactly what you want (rather than trying to rearrange your current house)

Regardless of the outcome, you'll need access to capital: either for the renovation or the down payment on your next home. You probably have the money you need in the form of equity in your home already.

Home Equity Is Skyrocketing

Over the last two years, home prices have risen at a record pace, improving homeowners' equity dramatically. Odeta Kushi, Deputy Chief Economist at First American, quantifies the amount of equity homeowners gained recently:

“Remember U.S. households own nearly $35 trillion in owner-occupied real estate, just over $11 trillion in debt, and the remaining ~$24 trillion in equity. In inflation adjusted terms, homeowners in Q2 had an average of $280,000 in equity- a historic high.”

If you own a home, you may have the funds to purchase the perfect home or renovate your current home. However, if you wait to decide, the cost of tapping that equity may increase.

Renovations will require you to refinance (or take out a home equity loan) to access the equity. In the event that you decide to move instead and use your equity as a down payment, you will still need a mortgage to cover the difference between the down payment and the price of your next home.

Over the next year, mortgage rates are expected to increase. You will probably pay more if you wait to leverage your equity. Most current mortgage borrowers have a rate of less than 4%, according to the latest Federal Housing Finance Agency (FHFA) data. By taking action now, you can keep your mortgage rate below 4% if you're one of those homeowners. If you're among the 43 percent of homeowners with a mortgage rate over 4%, you may be able to refinance for a cash-out or buy a more expensive home without significantly increasing your monthly payment.

Calculate your home's equity

To determine how much equity you have in your current home, or to find a constructed or existing home that has everything you need, you first need to determine how much equity you have in your current home. You will need two things for that:

• The current mortgage balance on your home
• The current value of your home

If you have a monthly mortgage statement, you should be able to find your mortgage balance there. You can get an appraisal for several hundred dollars, or you can get an equity appraisal for free from a professional local real estate agent.

If the past 18 months have refocused your thoughts on what you want from your house, now may be the time to either renovate or make a move to the perfect home. Contact the Sandi Pressley team to help you decide what the best way to move forward if you decide to buy a home in Albuquerque.

HOT PROPERTY OF THE WEEK!

508 ORTEGA Road NW, Los Ranchos, NM 87114

Plenty of room for your HORSES & HORSE POWER! Gorgeous approx 1.26 acre NV Village of Los Ranchos Horse Property. One of a kind, rare opportunity to own private gated valuable Sub-dividable lot. 4BD/3.5 BA renovated 2015 w/hardwood oak floors, 2015 roof, HVAC, HWH, windows, insulation, refrigerated air/heat throughout home. 1000sf grand sunroom w/ tile setting the stage for peace & relaxation. Recessed Lighting & Skylights! New SS appl! This home shines like a diamond! Not incl in TSF Finished 1979sqft heated/cooled 6 Car Tandem Garage/Shop w/220! The possibilities are truly endless.1100sf Horse barn, plus storage, 2 patios, circular drive w/50+ trees & fenced lawn.1 mile to Alameda Open Space, trails & Rio Grande River, & 15 mins to Airport. Perfect for entertaining. RV parking/NO HOA!

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.

When homes like this hit the market in Albuquerque, there's no time to waste! Whether you're looking for the perfect entry level home, or want to step up to a more luxurious setting, these fine homes are definitely worth a look!

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.

8007 Tuscarora Road NW, Albuquerque, NM 87114

Freshly updated Pulte home in the sought after community of Ventana Ranch. Luxury vinyl flooring throughout(no carpet) Ceiling fans and recessed lighting have all been replaced. Newer Refrigerated Air and Furnace(approx 2 years young). Functional kitchen with ample cabinets and countertops. Stainless appliances all convey. Open floor plan. Spacious Primary bedroom, dual vanities, walk in closet. 2 more good sized bedrooms. SW landscape, front and back with drip system.Close to parks, amenities & schools (Volcano Vista school district). Dont miss this GEM.

Learn More!

14412 OAKWOOD Place NE, Albuquerque, NM 87123

A gem nestled in the Foothills! Built in 2000, this 4-Bedroom custom home comes with all the bells & whistles. At 4,665sqft, this home boasts incredible living space made for entertaining. Open kitchen is a chef's delight w/ great new appliances, 5-burner Gas Range, gorgeous granite, large pantry and tons of seating. Spread out w/ the lower level entertaining area, or go outside on any of the multiple balconies, or through the huge backyard with hot tub and so many great views. This smart home features lights that turn on automatically as you enter the room & is wired with surround sound. The Master Suite showcases a luxurious bathroom complete with jetted tub, oversized shower, & custom California Closet. With a water softener, humidifier, and laundry chute, this home truly has it all.

Learn More!

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

You've likely heard a lot about all-cash offers if you've ever watched a real estate show, especially one that focuses on the luxury market. All-cash offers are becoming increasingly popular because there are few properties on the Albuquerque real estate market, and bidding wars are rampant.

What that means may confuse you.

An all-cash offer contains a secret that you may not know about - you can still get a mortgage.

Cash Offers: The Basics

All-cash offers mean that a buyer will pay for the home in full at closing. Consequently, the buyer can show they are able to perform the transaction based on their bank account. There are fewer chances for something to go wrong along the way with a cash offer, which makes it appealing to a seller.

The risk of selling to someone who plans to get a mortgage is greater. From the seller's viewpoint, the less financing a deal requires, the better.

A prospective buyer who is not financing their home will use a cashier's check or electronic transfer.

As cash purchases do not involve a lender, the closing time is usually shorter. The process can usually be completed in two weeks. Within those two weeks, any liens can be cleared, paperwork can be prepared and insurance can be procured.

An average closing time for a mortgage-financed purchase is 30 days. However, the timeline may vary from 45 to 60 days from signing to closing date.

How to Buy a Home With Cash

In the process of buying a house all-cash, the following steps usually occur:

Upon accepting the buyer's offer, a Purchase and Sale Agreement is then drafted. This is called going under contract.

Afterwards, funds must be verified. In the case of a seller, it's vital that the buyer actually has the cash they claim. One to two percent of the sales price is usually required as earnest money. A bank statement or investment statement may be required as proof of funds. Your real estate agent can assist you with this.

Title companies check for liens and arrange title insurance. A title company ensures the transfer of ownership occurs correctly on closing day. In addition, an escrow company handles the transfer of funds and closing documents. Escrow companies also handle legal paperwork.

Depending on what the buyer finds during the inspection, the buyer may have the option to renegotiate a lower sale price or request repairs.

The closing documents must then be reviewed and signed. The amount of paperwork you'll encounter is considerable even when the transaction is all-cash.

Are You Still Competitive With a Mortgage?

It is true that buyers prefer cash buyers, especially right now in a seller's market. You can still be considered all-cash with a loan.

A decision-now approval is offered by some lenders. Although it's not cash, the benefits may be similar for a seller because of the preapproval. Therefore, the loan will already be funded, and the lender can verify the remaining amount of the sales price.

The buyer can then remove financing contingencies from their offer without worrying about losing their earnest money since they've already secured a mortgage.

It's possible to become a strong buyer by doing something like this, depending on the lender's offer.

Finally, you may want to shop around if you're considering this approach because not all lenders offer upfront underwriting.

HOT PROPERTY OF THE WEEK!

508 ORTEGA Road NW, Los Ranchos, NM 87114

Plenty of room for your HORSES & HORSE POWER! Gorgeous approx 1.26 acre NV Village of Los Ranchos Horse Property. One of a kind, rare opportunity to own private gated valuable Sub-dividable lot. 4BD/3.5 BA renovated 2015 w/hardwood oak floors, 2015 roof, HVAC, HWH, windows, insulation, refrigerated air/heat throughout home. 1000sf grand sunroom w/ tile setting the stage for peace & relaxation. Recessed Lighting & Skylights! New SS appl! This home shines like a diamond! Not incl in TSF Finished 1979sqft heated/cooled 6 Car Tandem Garage/Shop w/220! The possibilities are truly endless.1100sf Horse barn, plus storage, 2 patios, circular drive w/50+ trees & fenced lawn.1 mile to Alameda Open Space, trails & Rio Grande River, & 15 mins to Airport. Perfect for entertaining. RV parking/NO HOA!

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.

Whether you're looking to make more room for your expanding family (including your horses), or want to upgrade your lifestyle, these stunning homes will offer all that and so much more. And you can't beat the the amazing location and stunning views these homes offer. Don't wait to shedule your exclusive viewing!

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.

218 SKYLAND Boulevard, Tijeras, NM 87059

This wonderful home boasts, Newer windows, newer carpet, newer tile! Newer stainless steel appliances. (Wash & Dryer, Refrigerator all convey as is) Newer water heater, new septic system 2018, newer blinds throughout, Newer metal roof, newer energy efficient heater! Out-Buildings for horses, goats chickens. Home has an attached mother in law suite (built in 2004) w/2 bedrooms, kitchenette, and huge family room, could be Air BNB, office, the possibilities are endless! radiant heat (in in law quarters), 3/4 bath w/handicap access) complete with own entrance, private patio area. Beautiful vigas, tongue and groove ceiling, oversized garage w/workshop area, and so much more! only 10 miles once exit off Cedar Crest exit!

Learn More!

508 ORTEGA Road NW, Los Ranchos, NM 87114

Plenty of room for your HORSES & HORSE POWER! Gorgeous approx 1.26 acre NV Village of Los Ranchos Horse Property. One of a kind, rare opportunity to own private gated valuable Sub-dividable lot. 4BD/3.5 BA renovated 2015 w/hardwood oak floors, 2015 roof, HVAC, HWH, windows, insulation, refrigerated air/heat throughout home. 1000sf grand sunroom w/ tile setting the stage for peace & relaxation. Recessed Lighting & Skylights! New SS appl! This home shines like a diamond! Not incl in TSF Finished 1979sqft heated/cooled 6 Car Tandem Garage/Shop w/220! The possibilities are truly endless.1100sf Horse barn, plus storage, 2 patios, circular drive w/50+ trees & fenced lawn.1 mile to Alameda Open Space, trails & Rio Grande River, & 15 mins to Airport. Perfect for entertaining. RV parking/NO HOA!

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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.

Buying a home in Albuquerque is a great opportunity at the moment, with mortgage rates lowest in several years. In addition to lower monthly payments, a lower interest rate also means that more people can qualify to buy a home. When you apply for a loan, the current interest rate is locked into your loan. But what happens if the rate falls further once it is locked in? What are the chances of getting the lower rate?

Lenders take rate locks seriously. You are reserving a rate when you lock it in with your lender. If rates rise before your closing date, you are protected. Most lock periods are between 15 - 30 days in length. It is crucial that the lock period last as long as the duration of your transaction. 

The lock protects you in case the rate increases. But what if the rate decreases during that time? Would you be able to get the lower rate?

Even if rates fall just a little, such as by less than 0.125%, it won't make much difference to change the rate in your agreement, nor will your lender be very motivated to make the change. Your lender might agree to lower your rate if it decreases by more than 0.25%. 

Changing lenders to get a lower rate is not a problem in advance of the closing date. This will allow you to have a lower rate. However, you also have to submit all your documents all over again to a new lender, including paystubs, tax returns, and bank statements. 

Your lender should consider lowering your agreed rate if rates fall by more than 0.25%. For a lender, it's better to do so than lose your business. Since both of you have worked hard to make the deal work, it benefits both of you.

Also, don't expect to get the absolute lowest rate when you make the request. There may also be a small fee to make the change. In the end, do the math and decide if requesting a lower rate works out for the best. It never hurts to ask!

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.