Real Estate Information Archive

In today’s Market in Albuquerque, some homeowners might be thinking about selling their home on their own.  This is known as For Sale by Owner (FSBO).  But there are a number of reasons why this may not be the best idea is you’re planning on selling your home in Albuquerque.

Here are 4 reasons why:

Buyer Exposure

It’s a fact that 94% of buyers search online for a home.  That’s compared to only 17% looking at the newspaper ads. Most real estate agents in Albuquerque have a marketing strategy that involves online marketing. Do you?

The Internet Gets Results

51% of home buyers find their home on the internet.  34% found it from a real estate agent.  A mere 9% found it from a yard sign.  Just putting up a sign in the front yard doesn’t work anymore.  A strong internet marketing strategy is essential.

Too Many People to Deal With

Most FSBO home sellers don’t realize at first all the people they have to deal with.  You have the buyer, the buyer’s agent, the buyer’s attorney, home inspectors, and appraisers. That can be overwhelming if you don’t have experience in selling a home.

FSBOs Have Become More Difficult

There’s far more paperwork involved in buying and selling a home than there used to be.  That’s why the percentage of people selling by FSBO has dropped from 19% to 8% over the last 20 or so years.

So before you take on the challenge of selling your home by yourself, give us a call and let us help you decide if an experienced Albuquerque real estate agent can help you sell your home.

HOT PROPERTY OF THE WEEK!

4 Cinco Circle, Placitas, NM 87043  $399,000

3 Bedrooms/ 3 Bathrooms/ 2740 Square Feet

Gorgeous single story custom home on private 2 acre sanctuary.

Learn more by contacting the Sandi Pressley Team

Get your Morning Inspiration with the Sandi Pressley Team!

Interest rates on a home mortgage remain low. Home prices are rising but they are still below the level they were at before the market took a dive. If you qualify for a low or no down payment loan, you're still likely to have closing costs and other expenses revolving around a new home purchase.

Here are 6 tips to help you save enough to make owning a home more than just a dream.

Tip #1 - Create a budget and expense report. Be specific about how much income you have each month and how much of it is being spent where. This will not only help you see where you might be able to make cuts, but will also help when you need to decide on a price range for your new home.

Tip #2 - Eliminate recurring service expenses, like gym memberships or cleaning services, that you aren't using or you might be able to do yourself to save some cash. A gym membership can add up to hundreds of dollars in a year.

Tip #3 - Cut out the java and other treats. Sure, we all like a good cup of coffee on the way to work but those trips can cost $30 - $40 a week or more if you add any food items to your stop. Your budget and your waistline will thank you!

Tip #4 - Eat out less or go earlier in the day. Dinners at restaurants are often more expensive than the same meal on a happy hour or lunch menu. Keep your leftovers and take them for lunch the next day. Living lean has become more and more popular in recent days.

Tip #5 - Consider getting a side job. What skills do you have that you can use on the side to make a little extra cash? Selling crafts on Etsy, working part time at the mall or even babysitting or mowing lawns can be great ways to earn a little extra each month.

Tip #6 - Be diligent about paying off debt. Start with your highest interest rate card first. Hit it hard and then move that payment to the next highest card. Rinse and repeat until all debts are paid.

It may feel like you're depriving yourself of the basics that make life comfortable to you but remember, there's a bigger purpose here. You want to be a homeowner and you want an affordable payment. Saving for the down payment or closing costs is a great start to ownership.

If you're ready to start your search, contact The Sandi Pressley Team today.

Have An Awesome Week!

Sandi's Hot Home Listing

4 Cinco Circle, Placitas

Price: $409,000 Beds: 3 Baths: 3 Square Feet: 2,740

GORGEOUS SINGLE STORY Placitas custom home offers a private 2 acre sanctuary with breathtaking mountain views. This 3 bedroom, 3 bath, 3 car garage, NM Pueblo home showcases spacious floorplan featuring a dramatic entry way into a cozy living space with Kiva fireplace and exposed vigas, T&G ceilings+wooden shutters throughout. Upgraded gourmet kitchen with custom cabinetry, granite countertops with beautiful backsplash accents. Private master suite with stunning Kiva fireplace and lovely Master Bath jetted tub, separate shower and large walk-in closets.

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The one question we get asked more than any other is this: When is the best time to buy a home? It most often comes from first time homebuyers who are making the change from being renters to being owners. The answer is complicated and varies depending on your individual situation but let's take a look at a common situation as an example. Your readiness to make a commitment is likely the most important factor in the timing of a home purchase. You've already looked at your budget and determined that renting is costing you more than owning would. You have a down payment saved up and you're ready to take the leap. What's next? Here are some questions to ask to determine if it's time.

• Am I willing to work with a lender to determine my price range and ONLY look at homes in that range?
• Am I willing to research neighborhoods to find one that meets my lifestyle needs?
• Am I willing to compromise my desires to find a home that suits most of my needs?
• Am I prepared to make an offer when I find a home that fits my needs and is within my budget?

If you answered no to any of these questions, you may not be ready. Finding the right home is the easy part. Being prepared to jump, not so much. Prices are still at historic lows, rates remain very affordable. Now is a great time to buy a home. The real estate market has been tumultuous for years. Being fearful of making such a large financial commitment is understandable. Buying a home is a long term investment. Like the stock market, there is risk. If the market tanks again, you may lose equity and be forced to stay in your home longer than you expected. If you can be realistic about home ownership being a long term investment, you will eventually get a return on investment. However, you must be willing to:

• Keep your home updated and do repairs on a regular basis
• Be patient, return on investment can take a decade or more
• Buy in your price range

Once you asked yourself all the right questions and decided that you're willing to do what it takes, it's time to talk to your lender and a real estate professional. The Sandi Pressley Team is here to answer your questions.

Have An Awesome Week!

Sandi's Hot Home Listing

12105 Signal Ave NE, Albuquerque

Price: $945,000 Beds: 5 Baths: 4 Square Feet: 4,495

Sophisticated custom home with casita; Nestled in desired Primrose Pointe, showcases breathtaking MTN & City views!Built with Elegance & Luxury, the 4495 SF Award winning home offers the finest quality craftsmanship 5 bedrooms, 4 baths, 3 fireplaces, a 3 car garage and 2 spacious living areas, with wet-bar, travertine flooring and alder wood throughout! Gourmet kitchen with custom Alderwood cabinets, granite counters, island, stainless steel Subzero and WOLF appliances!  Tranquil Master suite with fireplace, sitting room and private patio.

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Having a home inspection is a given when you are selling a home. You can prepare for your home inspection by taking a few steps. This will help the seller avoid bumps along the road to the closing table and helps the buyer avoid complications as they go through the buying process.

A competent inspector should be called in to inspect any home for sale. This inspection protects the buyer from future issues and protects the seller from potential lawsuits for known defects. The inspector will be looking for material defects in the home and reporting these defects to the buyer and seller, giving them the opportunity to negotiate repairs or price changes based on repairs needed. Often, sellers think they can just leave during their home inspection. This is far from accurate and taking these steps can help your inspection go smoother from the beginning.

Tip #1 Clear areas the inspector may need to enter. This includes attic scuttle entries, furnace areas, hot water heaters, crawl spaces and your electrical box.

Tip #2 Have the power on. Inspectors will be testing all major mechanical appliances including all those mentioned above.

Tip #3 Don’t forget about other appliances. A good inspector should test all appliances like the ice maker, dishwasher, microwave, water softener and trash compactor.

Tip #4 Replace garage door opener batteries and make sure the door(s) are clear and can be opened. The inspector will open and close the garage door(s).

Tip #5 If you have a well and/or septic system, the inspector will be running tests. For the septic system they will need to open the tank. Ensure the inspector has access for that. They may also take a water sample if you're using a well.

Tip #6 Here are some other things a competent inspector will check:

• Toilets
• Faucets
• Electrical receptacles
• Windows
• Roof
• Basement
• Fireplaces

Tip #7 Don't try to hide things. A good inspector will know what signs to look for to ensure nothing is being kept from the inspection. In fact, a hidden items found during inspection may even raise red flags with the inspector.

Preparing for your home inspection may seem overwhelming. Following these tips above can help your inspection go smoothly and put the buyer at ease that the home they've made an offer on will be a good investment.

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Sandi's Hot Home Listing

12095 Irish Mist Rd NE, Albuquerque

Price: $1,750,000 Beds:5 Baths: 7 Square Feet: 7,037

Elegant Tuscan Estate! Exquisitely Appointed Custom Home with amazing VIEWS located in Primrose.One of a kind floorplan showcases EVERY UPGRADE you would desire. Finest quality of craftsmanship throughout. In this dream home you will feel like you are in Italy. Impeccable travertine, hardwood & carpet flooring.

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

At this time of year it's not uncommon for homeowners to list their homes for sale. Competition can be steep so preparing your home to stand out among the rest is the key to getting it sold quickly and for top dollar. Here are 5 tips to help you do just that.

Your broker has added your home for sale to the local multiple listing service or MLS. The field services agent has put up a sign on your lawn. You have beautiful marketing flyers ready to go and you've scheduled an open house. What's next? v

You might think you're part of the work is done but you'd be wrong. A lot of what draws buyers, and hopefully THE buyer, to your home, happens before it even goes on the market.

1. Decide on repairs - Unless you are selling as-is, you'll want to make a list of repairs needed on your home and prioritize which ones you can afford to do and which ones you can't. Consider also the opportunity cost you might lose if you don't do some repairs. Heavily stained carpets can set the tone for the buyer leaving them feeling like the home hasn't been cared for. If you're not sure which repairs are worthwhile, ask a real estate professional. They can help you sort your list and get the most bang for your buck.

2. Make way - Clutter sends a similar message to deferred maintenance. In addition to not caring for your home, clutter says the home lacks storage space. Pack away all your knick knacks, clear the kid's art off the fridge and take down personal photos. This also allows the buyer to see themselves in your home.

3. Keep things clear - covering up windows or blocking views to areas of your home or property may give the buyer the impression that you've got something to hide. Not to mention it could minimize the light that comes into your home making it look dark and dirty.

4. Maximize the space to let in the most light. You can accomplish this by packing away extra furniture, opening blinds and curtains during showings and taking extra boxes of personal items to a storage facility or stacking them neatly in the garage.

5. To compete in a tough market, you must be prepared to stand out. This means your home must be cleaner and nicer than competing similar homes in the neighborhood. It also means your home must be priced competitively. Ask your broker for a competitive market analysis to see what other homes like yours are selling for in the area.

Small efforts, big rewards. Working on these small things can mean a quicker sale and more money in your pocket. If you're ready to get started on the process, call the Sandi Pressley Team today!

Have An Awesome Week!

Sandi's Hot Home Listing

6427 Lagunitas Rd SW, Albuquerque

Price: $535,000 Beds:5 Baths: 4 Square Feet: 3,900

Welcome to this meticulous SV Farms home on 1.54 AC fenced lot. Northern New Mexico meets contemporary offers multigenerational living-main home built-in 2004 approx. 2650sf, 3BDRM+OFC(closet.2BDRM,3CG w/WKSHP. Custom finishes thru-out. Gourmet kitchen features a quartz counters, kraftmade cabinets, copper backsplash & S/S appliances w/5 burner gas cooktop.

The Albuquerque real estate market is HOT! This means the market for selling is good but if you're thinking about selling, there are some things you'll need to consider before you list your home. To sell quickly and for top dollar, you won't want to get caught with these issues dragging your listing down.

Problem #1 - Repair Damage Whether it's tenant damage or deferred maintenance on your part, repairing damage to your home is a great way to increase its value. Walls with holes, floors with scratches and the yard filled with weeds taller than your toddler are a sure way to scare off buyers or receive low ball offers on your home.

Problem #2 - Outdated Features Outdated features like carpeted bathrooms should be updated before you list. Issues like this speak volumes to buyers about the care and effort you've put into your home.

Problem #3 - Dirty Carpet Large stains in carpet will surely scare off potential buyers who may not understand if said stain came from a recent encounter with a spilled drink or a dog that's been using the area for a potty box long term. Shampoo the carpets and if the stain doesn't come out, consider replacing the carpet with wood, tile or new carpet. If replacement isn't an option, be ready to offer a discount so the buyers can do it themselves.

Problem #4 - Pet Smells Since we're on the topic of pets, you may not notice pet smells in your home because you live there. Buyers on the other hand will know right away if you have pets in your home. If you can't find a place for your pets to go while your home is listed, make sure the litter box is ALWAYS clean, clean up Fido's mess from the yard and use air fresheners where needed. Also, consider the options mentioned in #3.

Problem #5 - Barking If you have a dog who barks when someone comes in, it's imperative the dog is kenneled away from the areas buyers will be viewing. Ideally, you'll have a different home where Fifi can stay until your home goes under contract or at least during showings. If not, get a kennel and ask your agent to build in enough time before showings to put the dog in the kennel.

Problem #6 - Bad Curb Appeal If your lawn is dead, your trees are overgrown and your shrubs are hiding your home from the street view, you probably need to do a little work in the yard. Curb appeal is your home's first impression. Getting buyers in the door is the first step toward getting an offer.

Problem #7 - Bad Marketing If your real estate broker is lazy, mean, inattentive, doesn't communicate or isn't marketing your home, fire them. If they aren't giving you the attention you desire, they probably aren't giving it to your listing either. A bad agent can definitely have a negative impact on days on market and final sales price.

Problem #8 - Junk Like it or not, buyers are going to open drawers, cabinets and closets when they view your home. If you crammed all your junk into those drawers, cabinets and closets, your secret will be revealed during a showing. Declutter, clean and clear these areas so buyers can picture their stuff in your home.

Problem #9 - Poor Choices That matching pink toilet and vanity may have seemed like a great idea when you put it in back in the 80s but outdated decor can be a real turn off for buyers. While you're not expected to update kitchens and bathrooms in most price ranges, do what you can to bring your home's decorative items into the current decade. Window coverings, wallpaper and furniture can go a long way toward improving the appearance of your home to buyers.

Problem #10 - Controlling Sellers Yes, it is reasonable to ask brokers to give you notice before showing your home. You probably want to lock up that barking dog, empty the litter box and pick up toys in the kids' rooms. Asking for more than a small amount of notice however may be unreasonable. Some buyers may find your home online and call their broker to see it right away. Another piece of advice, NEVER be home during showings. It makes buyers uncomfortable. Let the broker do their job and get out of the way.

If you're ready to list your home for sale, this is a great time to get started. When you're ready to put that sign in your yard, call the Sandi Pressley Team. We're here to help. 

Have An Awesome Week!

Sandi's Hot Home Listing

10528 Crestridge Ct, Albuquerque

Price: $275,000 Beds: 4 Baths: 2+ Square Feet: 2,603

AMAZING home on Cul-de-Sac Lot! Dramatic Great Rm w/Soaring Tongue&Groove Beamed Ceilings, Latillas, custom fireplace w/picture windows and access to balcony/patio to take in Scenic views! Gorgeous Kitchen features: lovely Counters w/Beautiful Tiled Backsplash/Custom Cabinetry with S/S appliances w/breakfast bar Seating that opens to the family dining.

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If you're considering selling in 2016, it's important to be priced competitively to avoid certain challenges. Historically, overpriced homes stay on the market longer, often sell for less than market value and sometimes don't sell at all. You may see a listing in your neighborhood that seems to be for sale forever, with a different broker every few months. If there are no major defects in the home itself, it's likely overpriced. This stigma can stay with your home and is a great reason to avoid overpricing in the first place.

A great way to avoid overpricing is to get a home valuation from a reputable source. Not only can overpricing give your home a bad reputation on the market, it can also cost you, big time, in the long run. Not only can overpricing scare off potential buyers, but over time, you'll actually end up reducing your price more than if you had just listed it at market value to begin with. Overpricing is often the most costly mistake a seller can make.

When you're ready to list your home, and 2016 is looking like a great time to do so, start with a home valuation from a specialist who knows your area well. A licensed real estate broker should be willing to provide this information free of charge. Relying on sites like Zillow and their zestimates is risky business when you're ready to list as they've never seen your home, nor do they know what features your home has to offer, or the amenities in the neighborhood.

Put your trust in The Sandi Pressley team; a listing specialist from The Sandi Pressley team can give you a free, no-obligation home valuation during a 20-30 minute in-person consultation. Call us today for more information or to schedule your appointment.

Have An Awesome Week!

Sandi's Hot Home Listing

528 Brianna Loop, Albuquerque

Price: $315,000 Beds:4 Baths: 2+ Square Feet: 2,260

North Valley Beauty! Built in 2013 sleek and contemporary design two story with 1BDR/office on the main floor! Upgraded kitchen with 42’ cabinets, granite countertops, tile backsplash and breakfast nook! Security system, refrig air, raised ceilings, ceramic tile flooring in kitchen and great room, ceilings fans, window coverings.

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Springtime is the most common time sellers decide to put their homes on the market. Many assume spring and summer are the best sales seasons. Unfortunately, this is a common misconception and often, sellers miss out on valuable listing time because of it. Typically, you'll see more homes listed for sale during spring and summer. The amazing weather we have here in Albuquerque also makes this a great time to list. However, don't rule out the fall and winter months just yet! Here are some points to consider about listing during fall and winter:

• There is less competition during these months as most sellers prefer to list in spring and summer
• Less families are on vacation during fall and winter
• Buyers looking during these times might be more serious about purchasing since this is considered the off season

If you're considering listing your home, don't wait for spring. Contact The Sandi Pressley Team today for a no-obligation market analysis. Our listing specialist can help you decide if this is the right time to list your home.

Have An Awesome Week!

Sandi's Hot Home Listing

9312 Nationwide St. NW, Albuquerque

Price: $210,000 Beds: 4 Baths: 2+ Square Feet: 2,270

Beautiful 4 Bedroom/2.5 Baths w/open and functional floor plan*Home features comfortable great room with cozy fireplace, arched accents, lovely wood laminate flooring thru out the lower level. Sunny spacious kitchen overlooks the family dining area & showcases plenty of counter & cabinet space

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Thinking about selling your home? Here are some tips for home selling success.

Get a CMA

The Competitive Market Analysis is a great tool to show you what the market looks like in your immediate area. Knowing what the local market is doing is essential to being able to accurately price your home for a quick sale without sacrificing a fair market price.

Remember, a CMA should only include homes in your immediate area and that are similar in size, amenities and features to your home. A home that sold with more or less upgrades won't be an accurate indicator of your home's potential buyers, days on market or how it should be priced.

You may not be in a hurry to sell but you might not be thinking about how longer days on market can affect your price and the impression of your home. If you overprice, buyers may assume you're making room for negotiation and make a low-ball offer to counter that. Underprice and buyers may jump to the conclusion that there is something wrong with the house.

A Buyer's Market

In a buyer's market you can expect:

• More days on market
• Dropping prices
• More seller incentives
• Higher inventories

A Seller's Market

In a typical seller's market you'll often see:

• Less inventory
• Rising prices
• Multiple offers

The type of market you're in will determine whether you can ask a little more for your home or if you need to price aggressively. It's important to pay attention to market conditions and understand how they affect your listing. Your real estate broker should be able to offer you guidance in this area. Ignoring market trends is a great way to have a long term listing with few showings and no offers.

When you're ready to look at a CMA for your home, call The Sandi Pressley Team. You can also visit our website for a no-obligation market analysis. Just complete the form and a member of our team will contact you with more information.

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Sandi's Hot Home Listing

827 Affirmed St NW, Albuquerque

Price: $145,000 Beds:3 Baths: 2 Square Feet: 1,400

This immaculate & stylish home is a gem! Features: Designer paint throughout, spacious family room and separate dining room, large country kitchen, new H20 Heater, Master bedroom with walk in closet separate from the other 2 bedrooms and a BEAUTIFUL, Terraced back yard with grass, shrubs, trees and flowers

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

What is universal design? In the past it was focused on mobility issues for an aging population. Today, it makes sense to include these features not just for the elderly. Creating a more safe and practical environment for all families is becoming the new norm. If you're planning a major remodel or just upgrading your existing home, there are some easy features you can add that will incorporate universal design into your home. The internet has suggestions for many such features. Here are a few of our favorites.

Get rid of doorknobs

Knobs require more dexterity and strength to open. Lever-style handles are simple to use, inexpensive and easy to install. It's an easy job and replacing a house full of knobs can be a quick, weekend project.

Replace light switches

Rocker plates have a large surface area making them ideal for use in any situation. Rocker plates are easier to clean, can be flipped with hands, fingers, knuckles or even an elbow if your hands are full. These plates can be installed easily and replacing a house full of toggle switches can be done in just a few hours.

Add motion sensing lights

Motion sensor lights come in a variety of options. You've probably seen them installed in public restrooms and in the form of night lights that plug in to wall sockets. Now there's even an option to use lamps and lights with a device that plugs into the wall. When the device senses movement, the light comes on. Not only is this a great option for night time wake ups, but it can add security to your home as well. Adding a few motion sending lights can be done in just a few minutes and save can also help save on your electric bill, turning off lights in rooms where no activity is happening. If you’re ready to find a home that already has these features, call The Sandi Pressley Team today. Our team of buyer specialists will go to work to help you find your dream home.

Have An Awesome Week!

Sandi's Hot Home Listing

1733 Black River Dr NE, Albuquerque

Price: $379,000 Beds:4 Baths: 3 Square Feet: 3,010

BOSQUE TRAILS! Master suite on the main floor! Backyard access!! Custom Elegance! Beautiful wood floors in the main floor office/den, two secondary bdrs upstairs with Jack & Jill bath, adjoining huge loft, and balcony. Stacked stone accents, custom fireplace, raised ceilings, refrig air, water softener, security system, upgrades hardware & lighting, tile flooring.