Real Estate Information Archive

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

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

The Sandi Pressley Team has just listed several fine homes for sale in Albuquerque, which is a breath fo fresh air in this tight market. But you need to act fast, as homes are selling at record pace. These homes offer plenty for both first time home buyers or those looking to step up into a home with more features and space. And make sure you check out other blog for even more newly listed homes for sale in Albuquerque!

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.

6917 LAS ANIMAS Avenue NE, Albuquerque, NM 87110

$310,000

Lovely Meticulously Maintained Home! Move in ready! Located in the highly sought after Sandia High School District, beautifully established NE Heights neighborhood. This brick, single level ranch features a half circle drive at front of home, with garage on side; two living areas for both formal & informal gatherings; cozy stacked brick fireplace & wet bar in family room; bright sunny eat in kitchen w/breakfast nook, plus formal dining room; large laundry/mud room that includes a half bath; oversized garage w/workshop space; and so much more! Water Heater & Evap Cooler approximately 2 years old; 2017 Roof Shingles replaced! Pride of ownership prevails. Convenient to shopping, parks, and schools.

Learn More!

9104 SURREY Road NE, Albuquerque, NM 87109

$549,000

This elegant 4-bedroom home, located in highly coveted Heritage East and La Cueva School District boast many great features including a gorgeous finished basement and a light bright floor plan!! Enjoy entertaining in the updated kitchen complete with granite counters, SS appliances and plenty of cabinet space. Owners Suite and bath is well equipped. Relax and enjoy outdoor living in your backyard oasis, lush green lawn, mature trees and covered patio. To many features to list. Move in ready!! This home is a must see!!

Learn More!

8716 GREENARBOR Road NE, Albuquerque, NM 87122

$425,000

Location! Location! This Beautiful Home with room to grow, is situated in the highly sought after NE Heights/Desert Ridge & La Cueva school district. Featuring five bedrooms plus study; two living areas for formal and informal gatherings; built ins; & more! The open & bright kitchen features gorgeous granite countertops; lots of cabinets & storage; & high ceilings; & sunny nook with built in seating. Master suite on main level with access to backyard, a full en suite w/jetted tub & separate shower. Lush landscaping front & back. No HOA fees & move in ready!!

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 buy or sell a home in Albuquerque it’s good to know what to expect in real estate trends. The spring months are always exciting and interesting in the real estate industry, so what are analysts expecting us to see in the near future?

Increasing Mortgage Rates

It appears that mortgage rates could continue to rise, depending on how well the economy recovers. Rates have been rising for weeks, whereas earlier in the year, they were holding under 3%. With the expectation that rates will continue to tick upward throughout the year, borrowers are advised to lock in low rates now. 

According to Fannie Mae, 30-year fixed-rate mortgages are expected to average 3.1% through the spring months, while they were averaging 2.9% in the first quarter of the year.

Many economists agree that as more Americans are immunized, there will be a larger economic recovery, thus a rise in mortgage rates.

Even with the slowdown compared to the hot market that has combusted the past year, there’s no major crash forecast. Prices could slow down a bit, and new homes might get built a bit more.

So that means if you plan to buy a home in Albuquerque, now is the time to act, despite stiff buyer competition.

Inventories Could Increase

The past year has been frustrating for home buyers and would-be homebuyers. It has been near impossible to find homes available, and when something comes on the market, it will often sell within just a few days or just an hour.

Today, however, more people have been vaccinated, so there will be less fear of catching COVID-19 from people coming into their home.

Although inventory levels are expected to rise, there could remain a shortage of options, particularly in some markets.

Millennial Movement

More than five million millennials will turn 30 on this year, and they are now the biggest segment of buyers in the real estate market. In 2018, millennial homeownership was at record lows, but that looks like it may be changing.

Around 86% of younger millennials and 52% of older ones are buying first homes, and some are buying luxury properties that are well beyond what you think of as a starter home.

Millennials will likely continue to dominate the market in 2021. According to a survey from the National Association of Homebuilders in the fourth quarter of 2020, 27% of millennial respondents intend to buy a home in the next 12 months, a significant jump from only 19% previously.

The Online Trends Are Growing

The popularity of real estate services online continues to grow, and that will probably not change regardless of the pandemic's state.

It has become increasingly possible to buy or sell a home without leaving the comfort of your current location. Virtual showings, the use of fully virtual agents, or mobile or online closings are just a few ways technology made real estate easier this past year.

What does all this mean for home buyers and sellers in Albuquerque? Whether you plan to buy or sell your home, now is the time to act. For home buyers, you’ll want to get your mortgage rates locked in before they rise any further. For home sellers, there’s never been a better time to sell your home, with stiff buyer demand raising prices and making homes sell fast. Talk to Sandi Pressley and her team soon to buy or sell a home in Albuquerque today!

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

HOT HOME LISTING OF THE WEEK!

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

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

Pandemic or not, some of us just need more space. Whether you’re taking care of a growing family, or your current family just needs more room to roam, there’s a home in Albuquerque waiting for you. These featured homes from the Sandi Pressley team are perfect for anyone who needs more room or wants to upgrade their lifestyle.

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.

803 WARM SANDS Court SE, Albuquerque, NM 87123

$599,000

Stunning Custom home (By Guererro)on a cul de sac in 4 Hills Village, upon entering you will notice the hardwood grand staircase. Home features 6 Bedrooms, 4 Baths, with Gourmet Kitchen, stainless appliances, granite counter tops, remodeled bathrooms, an amazing walk out basement (1200 sq ft) with a bedroom bathroom (pool table stays), storage, wet bar and so much more and entertaining areas. Spectacular views from master bedroom Balcony,(there are two other balconies as well), backyard w/rv access. There is new carpet, paint, surround sound, updated lighting, fans, all new hardware on the doors, oversized 3 car garage w new doors/openers. Schedule an appt now. 

Learn More!

13516 Deer Trail Place NE, Albuquerque, NM 87111

$895,000

Perfectly situated with 180 degree views in Glenwood Hills. The frosted glass accented front door greets you and beyond is a wide, open floorplan, with tons of natural light, gas fireplace and wet bar making this home perfect for entertaining. Main level boasts a master suite, 2 spacious bedrooms, formaldining and well-appointed kitchen with breakfast nook and access to one of many patios. Upstairs is another master suite with jetted tub and double sinks, privatebalcony and a fantastic walk-in closet. The garden level is open to the patios and is perfect for rec room/office/gym. Want city AND mountain views this uniqueproperty offers panoramic, breathtaking city views with Mount Taylor in the distance! Hiking, biking and walking trails are just minutes away.

Learn More!

11721 SKY VALLEY Way NE, Albuquerque, NM 87111

$829,000

Almost 5,000sqft in Prestigious Tanoan East with absolutely INCREDIBLE views!! Enjoy mountain views as you overlook the 6th Hole of Sandia and float in the pristine, HEATED pool, with a lot situated above the golf course for privacy. At night, view the twinkling lights of Albuquerque from your private balcony off the oversized master. Too many amenities to list! With room for everyone, this home boasts a finished basement complete with rec room, bedroom & bath. The luxury kitchen features granite countertops, newer appliances and open floorplan. Beautiful wood floors, oak staircase, 2 gas log fireplaces and more are ready to welcome you home.

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.

One of the best ways to attract home buyers in Albuquerque is with a beautiful garden. When they drive up to your home, they'll be compelled to look further when they see the vibrant array of plants. However, what if you can't spend a fortune to create a huge garden? You still can have a beautiful garden with the right motivation, budgeting and understanding of your landscape's limitations and strengths.

Here are a few tips to help you create a garden on a limited budget that will help attract buyers:

Grow Your Own

Starting your garden from seed can save you a lot of money, as long as you have the patience to wait for them to grow. Seeds typically cost between $1 - $5 per packet, and you can grow many flowers from those packets. By contrast, a full-grown plant costs between $10 and $50. This demonstrates how easy it is to save money by sowing seeds.

Rock Up

You can probably find plenty of rocks in your yard to use in your garden. You can build a small border that will look natural. And if you don't have enough rocks, consider buying some for cheap.

Fairy Lights

At night, lights will really make your garden stand out. You can find solar-charging lights at reasonable prices for your garden. 

Upcycle Furniture

Do you have any old furniture that you could refurbish? Maybe you can get a piece or two from a thrift store? Rather than bringing in new furniture for your garden, you can fix up your old furniture.

Rusty metals can be removed from outdoor furniture easily, just use acidic ingredients such as baking soda or coca-cola to remove them with a rag. Old wooden benches could simply be sanded or have some of the slats replaced. 

Fill with Pots

Pots can add beauty to any garden. Pots are inexpensive and can be filled with your seedlings to create an aesthetically pleasing landscape. You can place them next to the front door to welcome buyers.

Grow Upwards 

An effective trellis can make a big impact with your budget garden. You can plant roses or lilacs to make a stunning vertical display.

Gravel It 

Don't buy expensive paving stones or high-end gravel. You can create a chic garden with this durable product at an affordable price. It's modern, minimalistic and on-trend.

You can also purchase paving slabs to decorate the gravel if you so desire.

With just these few tips, you can help get your home ready to sell to Albuquerque home buyers. And the best part is that you won't have to spend a ton of money to make it happen.

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

Are you wondering when would be the best time to sell your home in Albuquerque? The answer is a resounding “NOW!” The home selling season has never been stronger. Home inventory is lower than ever, meaning you will have less competition. And with an increase in buyers, it’s the perfect combination to make sure you sell your home fast and make the highest profit possible.

Right now, typical home value of homes in Albuquerque is $239,548, which is an increase of 12.5% over last year. The median number of days on the market for homes for sale in Albuquerque is only 57 days. This means that home sellers are selling their homes faster and making more money on the sale.

Home sales this fall outperformed last year’s numbers due to historically low interest rates, according to data from the National Association of Realtors showing a 20.2% increase in closings in October.

According to a report from the Federal Housing Finance Agency, US home prices climbed 7.8% from the third quarter of 2019 to the third quarter of 2020, the fastest year-over-year increase since 2006. 

Several factors have contributed to the increase in demand. People who work at home due to the pandemic, fearing that they won't return to the workplace, have sought larger home-office spaces, often by buying bigger houses. Low mortgage rates have encouraged people to buy, while the supply of available homes is still low. 

That means home sellers have it good until at least the end of the year if conditions hold. According to a study by the National Association of Realtors in 2020, homes sold for an average of $66,000 more than the purchase price, up from $60,000. 

But low inventory and an increase in buyers isn’t the only reason you should sell your home. Here are some other factors to think about.

Interest Rates Are Expected to Remain Low

Before the U.S. was infected with the coronavirus, economists and real estate professionals predicted mortgage interest rates would stay low for most of the year. The pandemic has caused interest rates to drop even further, and this decline has been predicted to continue well into 2021.

You Have a Starter Home

In areas such as Albuquerque, where home prices are rapidly rising and bidding wars are common, entry-level homes, frequently purchased by first-time home buyers, should see a lot of buyer activity for the remainder of the year.

You Need to Move

No matter why you need to move, you can still sell your home and find one that suits your needs. Selling your house may be a viable option if your income has decreased since losing your job. If that’s the case, you might be worried that you won’t be able to pay your mortgage.

The lack of inventory can help your home sell faster. A correctly priced home, or one whose asking price is close to its market value, should sell quickly while inventory is low.

Sandi Pressley and her team are ready to help you sell your home in this hot market. Call us today or visit www.valuemyalbuquerquehome.com to get a free home valuation.

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

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

Are you ready to move into your ideal home in Albuquerque? Since the busy Spring home selling season is coming soon, now is the perfect time to find the home of your dreams. These homes are sure to go fast, so make sure you schedule a viewing today!

Feel free to contact Sandi Pressley and her team at 505-263-2173 to get more information and schedule a viewing of these fine homes. You can check out all of our listings on our Featured Listings page.

8716 MADRE Avenue NE, Albuquerque, NM 87111

$360,000

Precious Inman Patio-Home in highly desirable Canyon Run! Prime NE Heights location, location, location with so many recent updates: FURNACE (2020), HVAC (2020), WATER HEATER (2020), STUCCO (2019), GUTTERS (2019) plus fresh paint and beautiful floors. Featuring 2 living areas, a wet bar, and gas fireplace, this is comfortable living. Oversized Master Bedroom features tons of closet space plus a spa-like master bathroom with double-sinks and separate shower and garden tub. Enjoy your privacy in the backyard under an oversized patio, or spread out indoors with the beautiful sunroom. Updated counters in the kitchen plus newer stainless steel appliances make this home move-in ready.

Learn More!

2509 RIDGECREST Drive SE, Albuquerque, NM 87108

$375,000

Welcome Home to this beautiful brick home situated on a large corner lot close to conveniences. Great curb appeal with curved driveway, large covered porch & garage to the side of home. Featuring desirable split floorplan with spacious living spaces throughout including both formal & informal living & dining options; Two ample master suites for guest or in-law quarters; Fresh interior paint & carpet replaced in 2020; Huge family room w/efficient wood stove opening to the 207 sqft sunroom (not included in square footage); Kitchen features eat at bar plus sunny nook, & lots of cabinet space. Mature landscaping provides trees, shrubs and partial xeriscaping; open patio; & backyard access. **Square footage does not include the 207sqft Sunroom**

Learn More!

14319 MARQUETTE Drive NE, Albuquerque, NM 87123

$399,000

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.

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.