Real Estate Information Archive

Winter is almost upon us and that means the weather is changing quickly. Now is the time to make sure your home is ready for the cold weather that is on its way. Here are some tips on winterizing to save money and be more comfortable when it's cold outside. El Nino is expected to be particularly strong this year. This means there could potentially be plenty of rain, snow and maybe even ice coming. Here are some cost-effective ways to get ready for the worst El Nino might throw your way.

Caulk Doors and Windows

Statistics show that a home can lose up to 33% of its energy to drafts at windows and doors. Experts recommend a gap of no more than a nickel's width to avoid heat escaping in winter. For drafty doors, consider adding weather stripping and a draft stopper for the bottom.

Reverse All Ceiling Fans

Remember that heat rises and you don't want all your heating dollars trapped near the ceiling. Reversing your ceiling fans helps push all that warm air back down into the room.

Get Your Heater Serviced

Having a repairman come out during an emergency is costly and inconvenient. Get your heating unit serviced before the cold hits to avoid most surprises that could end up costing you much more.

Clear Gutters and Downspouts

Gutters and downspouts are made to carry water away from your house, saving it from damage. Having clogged downspouts and blocked gutters gives water the option of backing up where it can then flow into your home causing possible water damage and worse, possibly even mold.

Watch the Weather Report and Prepare Accordingly

Know when winter weather is likely to be at its worst and prepare ahead. Stock up on essentials like water, paper products and firewood. These things are likely to go up in price when weather strikes and in a worst case scenario, you may not be able to travel out during the storm. If you're ready to sell, winter is a great time to put your home on the market. Buyers this time of year are more likely to be serious about moving and there is generally less competition in the market. Call The Sandi Pressley Team today to find out about listing your home.

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Sandi's Hot Home Listing

6812 Vista Del Sol Dr, Albuquerque

Price: $339,000 Beds:3 Baths: 2+ Square Feet: 2,650

This spacious & beautiful home located on a cul-de-sac lot in the highly sought after NE Heights Neighborhood. This spacious open concept home showcases a formal dining room, 2 living areas w/fireplace, raised ceilings, plant ledges to name a few!

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Buying a home is more than just finding the right home and going to the title company to sign documents. Unless you have cash to make the purchase, you'll need to obtain a home loan or mortgage. This can be an intimidating process. We hear every day about new predatory lending practices and mortgage scams. So how do you protect yourself and get the best loan available for your situation? Here are some tips to help protect you when the time to buy a home comes along.

Ask for referrals

You're likely to have family, friends or coworkers who have recently been through the process of obtaining a home loan. Ask around and find out where they had the best experience. Your real estate broker is also likely to have a preferred lender they like to use. Word of mouth is a great way to find a reputable lender.

If it seems too good to be true...

If it sees too good to be true, it probably is. Be wary of rates far below what the market shows. There are plenty of programs available that help with down payment, closings costs and other parts of buying a home. Try not to be wowed by companies offering miracle deals.

Do your homework

Taking the time to research rates, companies and programs, can save you thousands of dollars out of pocket and even more over the term of a conventional mortgage. Being uneducated can cost you the same. Start by:

• Understanding your credit score and how it relates to interest rate
• Understanding mortgage terms like amortization, APR and compounding interest
• Understanding payment and prepayment options

Be careful who you trust

The internet is a smorgasbord of information when it comes to mortgage lending. You have to be careful though as there is a ton of outdated information, deceptive advertising and just plain bad advice.

There are ways to protect yourself and even learn from other peoples’ mistakes. Consumer websites like the Consumer Financial Protection Bureau are a great place to start. Here you can learn about known scams and read personal experiences from people who have been there already.

When you're ready to buy a home, contact us for a referral to our preferred lender, Legacy Mortgage. The Sandi Pressley team is here to help you have a great experience!

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Sandi's Hot Home Listing

6812 Vista Del Sol Dr, Albuquerque

Price: $375,000 Beds:4 Baths: 2+ Square Feet: 3,755

Exquisitely Appointed Home in desired Montecito Estates!With over 3700SF, this open floorplan shows like a model-featuring cozy living area w/fireplace, 4 BDRMS/3BA+loft & computer area!

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Often, when meeting with prospective sellers, I hear the question, "Should I sell my home or remodel it and stay?" There's even a show on the home and garden channel called Love it or List it where a broker shops for new homes for a couple while a contractor remodels their existing home. At the end of the show, the couple must decide if they love it enough to stay or want to take one of the new homes found by the broker. Most of us don't have access to a TV show who will offer us this option so we have to decide if it is a better investment to remodel and stay in the home or just move out and buy what we want. Here are some tips to help you decide.

Look at Market Conditions in your area

Market statistics, the ones that really matter, should be hyper-local. Numbers in your county or city can vary greatly from the national ones put out by NAR and other organizations. Home prices can even vary from one neighborhood to another, depending on amenities, condition and crime in the area.

Look at your purchasing options

Living in an area where you can fetch a good price for your home might also mean it will be difficult to find a new home that is affordable. Look at your purchase options before making a decision to list. If you sell, will you have enough for a down payment? Will your payments go up in your new home?

Consider the costs

Statistics show that an average home renovation is less expensive now, around $4,000 down from over $6,000 in 2010. Looking at the cost, it's obviously less expensive to renovate than to move. However, most average families don't have that kind of money lying around and would need to take out a loan to cover the costs. This additional debt may offset the expense of moving in the long run.

Make the upgrades count

Unless you're in Arizona or a few other US locations, you probably got up today and set your clocks back one hour. We may get an extra hour of daylight in the morning but the sun is still setting around dinner time in most places. So how do you keep the darkness from wearing down your spirits? Here are some tips to help you let the sunshine in when fall and winter arrive.

• Change your dark curtains out for lighter colors or even better, throw them open during the day, especially in the morning.
• Add more lighting. This can add brightness to your home but the heat from the lights can also add warmth and mean savings on your heating bill
• Max out the watts. Don't use bulbs not intended for your light fixtures. That can cause higher fire risk. Just put in the highest wattage allowable in your lamps. Again, this adds warmth and can help with those winter heating bills. The new bulbs allow for more light without the increase in electricity usage.
• Consider adding skylights to your home. Solatubes and other skylight options can add a lot of natural light to your home.
• Lighter surfaces reflect light. You might consider painting rooms with lighter paint colors during the fall and winter months. Don't feel like repainting that often? Think about changing out dark colored decorations for lighter colored ones.
• Mirrors are another great option for reflecting light in an otherwise darker room. Hang your mirror on a wall across the room from a window and double the light.
• Clean the windows. That's right, just cleaning the windows can allow more light to enter the room.

Need a home with more light? Call The Sandi Pressley Team today and let us help you find the home of your dreams.

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Sandi's Hot Home Listing

13201 Canyon Edge Trail, Albuquerque

Price: $680,000 Beds:5 Baths: 4 Square Feet: 3,265

A Rare find - Oversized Lot at the Canyons featuring two homes and a 3 Car Garage.Perfect Multigenerational Home- Numerous recent upgrades to main home- Beautiful New Kitchen, New Wood Floors, Heating System Upgrade, Living Room Remodel. Open and Bright- High Ceilings.

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Deferred maintenance is a huge concern for buyers. If they find small things left undone in a listing, they're likely to walk away without giving the home a second thought. Here are a few home maintenance tips to make your home stand out when you're listed for sale.

You should be replacing your air filter and dusting the return vents at least once every 3 months. More often if you live in a dusty area, have pets or suffer from allergies. This will help your AC system last longer and nothing turns off a buyer like looking up and seeing a filter covered in dust and hair.  

Grout, in areas of your home that get wet, need to be cleaned and resealed about once per year. If you notice an area that needs it more often, add it to your calendar. Buyers may not notice your efforts but I guarantee they will notice if it's not done.

Look for leaky faucets and toilets. Run faucets for a minute or two and check under the sinks for water leaking. If you think you might have a leak, turn off all water sources and check your meter. Still moving? You may have a leak. The ABQ Water Authority can help you with a water audit to help detect those leaks and refer a licensed plumber to get repairs done.

Finally, dust ceiling corners and remove cobwebs from the front porch area. While cobwebs and dust may not be indicators of damage, it can give a buyer the wrong impression about your home. Best to clear them out before your first showing.

If you're ready to put your Albuquerque home on the market, call The Sandi Pressley team today. We'll help you get your home ready to sell fast and for the best possible price.

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Sandi's Hot Home Listing

1015 C De Baca Lane, Bernalillo

Price: $550,000 Beds:4 Baths: 3 Square Feet: 3,664

Welcome to this Exquisite Custom home in the sought after gated community of C de Baca Casitas. Upon entering this home, you’ll notice sweeping views of the Sandias! Built by Su Casa, this home features Diamond Finish Plaster, arches, pillars, beamed/raised ceilings, custom lighting, hardwood & travertine flooring.

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Few things in life are certain. One thing that is certain is the ever-changing real estate market. The market we see today will not be the same a year or even a month from now. The market for 1st time buyers hasn't changed much in recent time but it looks like that might be changing soon. If you're a first time buyer, now is the time to act. Here are a few reasons why.

Historically Low Rates

Many experts predicted a rise in real estate rates over last summer. That didn’t happen. It could come at any time but for now, it looks like rates are holding at near historic lows. A rise in rates can have a significant impact on your monthly payment so if the stars are aligned for you to purchase, don’t wait. "If mortgage rates hit 6%, a third of millennials (people younger than 35 years old) wouldn't be able to afford homes as they're currently listed, according to an analysis by HouseCanary, a housing-data analytics company," said Money magazine. A $215,000 loan at 80% LTV over 30 years climbs just over $100 a month with just a 1% increase in interest rate.

Low Down Payment Programs

New loan programs from Fannie Mae and existing loans from FHA make buying a home even easier. With down payments as low as 3% in some cases, homes become more affordable for first time buyers. Pair that with lower MIP and you’ve got a great reason to buy now.

Rent is Going Up

In most markets around the nation, rental payments have been climbing steadily in recent years. When you look at rising rental payments and the tax benefits of home ownership, the decision becomes much clearer. In many markets, it is less expensive to make a house payment, usually on a larger residence, than to pay rent.

Tax Benefits

When you own a home, especially the first year, the tax benefits can easily outweigh the costs. Here are just a few things that may reduce your tax burden when you own a home:

• Interest payments
• Interest buy downs
• Points
• Property Taxes

PMI Went Down

The going rate for PMI in recent years was 1.35% of the balance of the loan. The feds recently made a change that lowered this rate to /85 meaning huge savings for buyers with lower down payments. The change can mean a savings of around $900 each year. As you can see, there are plenty of reasons why now is a GREAT time to buy your first home. If you’re ready to start your search, contact the Sandi Pressley Team today!

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Sandi's Hot Home Listing

24 Plaza De Sonadores, Placitas

Price: $300,000 Beds:3 Baths: 2 Square Feet: 2,170

Immaculate single story home nestled on 2.1AC showcasing breathtaking 360 degree views~Pride of ownership! This open concept floorplan showcases 2 Heated Sunrooms-North & South side of home, 2 living areas w/3 fireplaces, raised ceilings, family dining room. Gourmet Kitchen features stunning upgraded granite countertops & backsplash (2015), lovely cabinetry+ sunny breakfast nook-Chefs Dream!

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Making a home purchase on your own has become increasingly difficult. New regulations, an increase in the amount of paperwork required and negotiation requirements means it's even more important to find a qualified real estate professional. In addition to a real estate license you should seek a broker who is a negotiation specialist for repairs and inspections, someone who is very familiar with the area you're shopping in and a broker who knows a lot about the mortgage industry.

The process of getting a real estate deal from contract to close is a complicated one. The number of obstacles a buyer may face is ever increasing and always changing. Financing standards have tightened, supply of homes has changed dramatically and prices and interest rates are always on the rise.

Your Sandi Pressley team buyer specialist will have access to all homes listed for sale in the Albuquerque Metro Area through the local MLS. They can set you up with email alerts so know immediately when a new listing goes on the market or if a listing you're looking at changes status or price.

Brokers also share new listings with each other, sometimes before they even hit the market. This means having a well-connected real estate broker will benefit you even more. If your broker isn’t contacting you with new home prospects on a regular basis, it’s time to shop for a new broker.

Your broker should also be poised and ready to help you make an offer as soon as you decide on a home. If your broker isn’t available by phone text or email, or fails to return your calls in a timely manner, this is a sign they aren’t invested in your situation. Sadly, this lack of attention could end up costing you the home you want.

Your broker should also have strong negotiating skills. Since buyers and sellers have competing interests, it’s important that your buyer specialist be able to negotiate with the sellers and be able to work through problems that arise along the way.

While all of these things are important when you’re looking for an agent, you aren’t without responsibility in the deal. Here are a few things you should do:

• Be Loyal
Working with more than one broker is not kind. Brokers work solely on commission and if you spend their time to find your dream home, then give them the commission they deserve for their hard work.
• Communicate
You may hear a lot of stories about brokers who never call back or don’t communicate as much as you’d like. This is a two way street. If your needs change or you aren’t happy with the level of service you receive, tell your broker and give them an opportunity to remedy the situation. If they fail to do so, move on.
• Don't Go Alone
If you're going to look at a home, tell your broker first. They may have inside information about the home. It’s also good because having them with you can rule out any possibility of a seller trying to take advantage of your lack of representation.

If you want the best service during your home purchase, hire a real estate professional with a proven track record. If you’re ready to work with the best, call the Sandi Pressley Team today.

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Sandi's Hot Home Listing

604 Autumnwood Pl, Albuquerque

Price: $389,000 Beds:3 Baths: 3 Square Feet: 2,900

SLICE OF HEAVEN-CULDESAC Hillside Home w/Private Pool, Lush landscaping & breathtaking city & mountain views. This stunning home shows like a MODEL w/upgrades galore-showcasing 3 BDRMS/3 BATHS/2 CAR GARAGE/UPSTAIRS LOFT/BALCONY OFFERING MAJESTIC VIEWS-3 decks for views overlooking Tijeras Canyon. This open concept floorplan includes 2 living areas w/fireplace, spacious remodeled Kitchen w/granite counters S/S appliances -chefs dream!

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Are you looking to buy your first home? A large number of homes selling today are going to first time buyers. The low mortgage rates and great prices are making it a great market for home buyers, especially first time buyers It’s a good idea to start early, at least 4-6 months before you plan to purchase and before you call a lender. To best position yourself for a purchase, follow these tips.

Get your Credit Report and Score

The 3 credit bureaus offer an annual free check of your credit. Under the Fair Credit Reporting Act they are required to provide you with a copy of your full credit report at no cost. You can also pay a small fee and see your credit score. Your credit score is what a lender will use to determine your creditworthiness. The higher your score, the better your interest rate will be. Lenders look at your average score and while they use a complex algorithm, having good credit can make a huge difference in your monthly payment. All three credit bureaus can take up to 90 days to correct errors on your report. Check it carefully for mistaken identities, signs of identity theft and payments that were incorrectly reported. Make sure to allow plenty of advance time for those corrections. This will make the pre-approval process smoother.

Keep Your Scores Up

You might think that opening a new credit account and then leaving it uncharged will help your credit score. This includes large purchases like furniture and cars. It also includes personal loans, major credit cards and even store credit cards like those offered at department and home improvement stores. Lenders look at your credit score but they also consider your debt to income ratio. The higher this number is, the more risk you pose. Rates rise or loans are denied. It is best to wait to open new accounts until after your home loan has closed.

Get Pre-approved

Know what you can afford AND what you can qualify for before you go shopping for a home. Your lender will want to see your credit reports, job history, income, loans, credit card balances and any alimony or child support you pay or receive. Once you apply for a loan and get a pre-approval letter, finding a home in your price range is easier and you don’t risk falling in love with a house that’s out of reach. Based on all the financial information you provided, your lender will provide a tentative commitment to your loan. You won’t lock your interest rate yet but your lender can give you an idea of what your monthly payment might be like and how much of a down payment you might need.

Make a List

Make a list of all the things you want and need in a home. Do you need a single story home? Do you want to include a pool or horse stables in your purchase? Before you call a real estate professional it’s a good idea to have your choices narrowed down. Looking at 20 houses in one day might sound like fun but you won’t enjoy it if none of those homes meet your needs. Communication is key when it comes to your agent helping you find a home. Tell them what you’re looking for and talk to them if your needs or wants change during the home search process.

Find a Broker

When you’re ready to go look at homes it’s important to hire the right broker to help you. It’s important to find someone who is experienced in negotiations and who knows the areas you’re shopping in. You should interview no less than 3 agents in this stage of the process. Look for a broker who has a positive track record and whose personality is a good fit for yours. You’re likely to be spending a lot of time together in the process of finding and purchasing your first home.

Check Your Expectations

Unless you’re having a home custom built, you’re unlikely to find a home that has everything you’re looking for. Make a list of the top 3-5 things that are deal breakers and be flexible on everything else. Cosmetic changes like paint and carpet are an easy fix compared to structural changes and major renovations. Some home improvements can be covered by your mortgage loan. Talk to your lender about programs that may be able to help.

Real Estate is NOT a Short Term Investment

Unless you buy cheap, do all the work yourself and then flip the home for an immediate profit, you should always think of real estate as a long term investment. The National Association of Realtors says that home equity in general beats out inflation by one or two percent annually. Add that to the tax benefits of home ownership and this is an investment that can really pay off if done right. It’s not just an investment though. If you focus completely on the financial aspects of your home purchase you might miss out on the joys of home ownership. Living in a great neighborhood, not worrying about rising rents and making your house a home, all easily outweigh the financial benefits of owning. When you’re ready to purchase your first home, contact The Sandi Pressley Team and let our buyer specialists help you find the home of your dreams.

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Sandi's Hot Home Listing

1412 Stagecoach Ln, Albuquerque

Price: $575,000 Beds:5 Baths: 4 Square Feet: 4,250

Check out this Private Dream Home! Nestled in desired Four Hills, this rare find 2.21 acre single level dream home offers Elegance and Tranquil living! With over 4200SF, PLUS attached Sunroom 267+SF (not incl in sqftg) the open floor plan offers 5 BDRMS/4 Baths/Huge 3 Car garage ,2 breathtaking living areas +formal dining. Lovely raised and T&G/Beamed ceilings with picturesque window which flood the home with natural light and views

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

How to fall in love with your home When you’re shopping for a new home, you’re likely to be emotional about the process. You may fall in love with a house that isn’t right for you. Here are some tips to help you make a smart decision.

• Shop for the home you can afford
Being house poor is never fun. Even the most beautiful home, with all the special features, can seem like a burden if it’s not affordable. In a worst case scenario, you may end up losing that home to foreclosure! Make sure you know the difference between what you can afford and what you can qualify for and shop for affordability.
• Work with a Realtor
Looking at homes online can be a dangerous game. Some websites might be posting outdated information and the home you fall in love with could be under contract or no longer for sale at all. Your real estate professional will ensure you’re getting the most up to date information and also help you negotiate the best deal possible when you do find the home of your dreams.
• Shop for the home you need
You might be tempted to buy the biggest home you can get in your price range. However, just like the unaffordable home, having a home that is much bigger than you need can be just as frustrating in the long run. Heating and cooling a larger home can be costly. Maintenance, upkeep and cleaning a large home can also be daunting.
• Buy a home that suits your lifestyle
Are you a frequent traveler? You’re probably not going to be interested in a home with a lot of landscape maintenance or a fixer-upper. Have kids? You’re less likely to be shopping for a condo. Make sure the home you choose fits the life you live.
• Distance matters
If you’re currently driving less than half an hour to work or school, buying a house that significantly adds to your commute can be a very bad idea. Not only will the longer time away from home become a frustration, but the extra fuel and vehicle maintenance can be costly.

Falling in love with your new home is about more than getting the biggest and fanciest. It’s about finding the perfect fit, from lifestyle and commute to size and affordability. If you’re ready to start your new home search, call the Sandi Pressley team today!

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Sandi's Hot Home Listing

10805 Towne Park Dr, Albuquerque

Price: $145,000 Beds:3 Baths: 2 Square Feet: 1,308

This lovely single story Home in gated community offers a spacious & functional floor plan complete w/cathedral ceilings, laminate wood flooring & tile.This open concept floorplan showcases a spacious & sunny kitchen w/plenty of counters & cabinets w/ lovely dining area. Large Master bedroom is complete w/full Master Bath and access onto patio.Additional amenities include oversized 2 Car Garage,from backyard private gate access to tranquil walking path.Back yard is tastefully landscaped for low maintenance-This home is a must see!!Close to shopping,KAFB and Sandia Labs. This gated community has 2 pools,2 parks,club house,work out room & tennis courts..

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Selling your Albuquerque home for top dollar requires that your home be in prime condition, especially compared to other homes in the same area and price range. We can’t all afford to spring for a professional home stager but there are some tips and tricks we can offer to help your home have that staged look and feel.

• Consider Updates - Updating, especially in kitchens and bathrooms can make or break a deal. Potential buyer look at these rooms as major projects in general. If they’re outdated, a buyer may decide that your home is more work than they are willing to put in.
• Declutter - Put it all away. From knick knacks to family photos, decluttering makes a big difference in the look of a home. Homes with a lot of clutter give the impression that a home might be lacking storage.
• Smell It - Better yet, have someone else smell it. We get used to the smells in our home and often, we overlook unpleasant odors that can be a real turnoff to potential buyers. Invite an honest friend over to take a whiff and tell you what needs work.
• Let the Sunshine In - Natural light can make a room look larger. Remove or replace heavy curtains or blinds with light and airy coverings that let the light in but still provide privacy. During showings, throw back the curtains and let the sunshine in.
• Add Curb Appeal - Clean up the yard, clear cobwebs and peeling paint and add some color. The fastest way to scare off a potential buyer is to make a bad first impression.
• Remove That Personal Touch - Buyers want to be able to picture themselves in your home. Removing family photos, religious relics and kid’s artwork allows buyers to see their own belongings in the home.
• Make The Room A Room - One of the worst mistakes sellers often make is not giving a room a purpose. Putting bedroom and office furniture in the same room can confuse a room’s purpose and potential buyers. Decide what a room will be “staged” as and stick to that one thing.

If you need advice, call the Sandi Pressley Team. We’re here to help you get top dollar for your home.

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Sandi's Hot Home Listing

10128 Masters Drive NE, Albuquerque

Price: $525,000 Beds: 5 Baths: 4.5 Square Feet: 4,164

TANOAN LOT-Original owner designed & built this Exquisite home in the highly desired gated community-This Custom Home is situated in a PRIVATE area ON one of the Largest Lots. Check out this dream house w/your wish list met! With 4164 SF, this floorplan offers 5BDRMS/4.5BTHS, 2 breathtaking living areas. Stunning updated gourmet kitchen(2012):includes custom cabinets, exquisite granite counters, oversized island w/veggie sink,5-Burner Gas cooktop, Amazing Breakfast nook-Chefs delight.

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AND HERE'S YOUR MONDAY MORNING COFFEE!!