Real Estate Information Archive

Blog

Displaying blog entries 41-50 of 109

What Pet Door Is Right For Your Home in Albuquerque?

by Sandi Pressley

Just like humans, our pets need a safe and secure place to live. Pet doors are an ideal way of letting your pets in and out of your home when you aren't home. Not all pet doors are the same, and they serve different needs. Some can install in your door, inserted in a slide door, or be installed in the wall. Some of these are easy to install, while others may need professional installation. Here are some of the types of pet doors to help you find the right one for your home in Albuquerque.

Installed-in Doors

Installed pet doors usually go in your home's exterior wall leading to the front or back yard. Depending on how deep the wall is, it can be a flap, frame, or even a tunnel. A flapped door will be made from either a plastic or aluminum frame, with between 2-3 flaps for passage. The downside of plastic frames is that they can break easily. Aluminum will expand and contract with temperature changes, but can get warped over time. The good thing with installed doors is that you can buy replacement flaps.

If you decide a tunnel type is the best option, then you should hire a professional carpenter or handyman to drill the door tunnel in your wall so that you don't damage your plumbing or electrical. 

Custom Doors

Custom pet doors are versatile in that they will let your make changes as your pet grows.

Patio Door

If you live in a rental with a patio door, or don't want to drill holes in your walls or doors, then a patio panel door is a good option. All you have to do is find one that fits the right height of the patio door, then just slip it in. It will let both you and your pets to come in and out easily, making these types very popular. You can also find these doors for sale used, as some people don't need them for long periods if they are renting.

Electronic Doors

Don't want other animals coming into your home? An electronic pet door will solve that issue, as it only lets in pets who are wearing a sensor tag on their collar. Some can even be programmed to only open certain times of the day. This type of door is obviously more expensive, but it can be worth it to protect your home and pets from unfriendly animals. The only trick is that you will need to train your pet how to use it.

Getting the right pet door can save you a lot of trouble having to let your pets in and out all the time, as well as offer them more safety. Any type of door is well worth the cost and effort.

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!

1393 TIFFANY Lane SE, Rio Rancho, NM 87124  $300,000

3 Bedrooms / 2 Bathrooms (2 full, 0 half) / 1846 Square Feet

TRINITY ESTATES! Open floor plan with lots of living space featuring wood ceilings, vigas, nichos, Kiva fireplace, skylights, REFRIGERATED AIR! Kitchen features beautiful cabinetry, granite countertops, island, recessed lighting, gas cooktop, double oven, walk-in pantry, breakfast bar & bkfst nook with a bay of windows! Master suite features double doors, sep shower, jetted tub, his & her vanities and two closets! Secondary bdrs and full bath on its own wing! Private backyard, beautifully landscaped with turf, shrubs, flowers and trees, covered patio and walled for privacy. Garage has separate, enclosed room for easy storage. Close to shopping, restaurants, parks and easy access to Albuquerque!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

3 Differences Between the Limited and Standard 203(k) FHA Loans

by Sandi Pressley

You've found a home for sale in Albuquerque in the ideal neighborhood, and it's priced just right. But something is holding you back from making the deal.

Could it be the outdated appliances, dark brown exterior, and wall-to-wall carpeting? You can make it the home of your dreams with an FHA 203(k) renovation loan. This type of loan will let you buy the home and have extra cash to purchase appliances or make other improvements to the home. It's unique because you can borrow the funds you'll need based on what your house is expected to be worth after the renovation is complete. 

The FHA 203(k) loan is insured by the Federal Housing Administration (FHA), and offers two options: Limited and Standard. Finding the one that's right for you depends on how much you want to spend and what you intend to do. 

3 Differences between the Limited 203(k) and the Standard 203(k)

  1. Structural Repairs.LIMITED: Minor remodeling and non-structural repairs.

    STANDARD: Major rehabilitation or when repairs are structural or involve landscaping. Examples include jacking up your house to replace the sill plate or knocking the house down to rebuild it (you must leave the foundation). 

  2. HUD Consultant.

    LIMITED: Does not require a HUD consultant.

    STANDARD: Requires the use of a HUD consultant. He will draw up the paperwork and work with you and your contractors to get a write-up before the appraisal and ensure the required renovation is completed. (Your loan officer can work with you to obtain the services of an experienced HUD-approved 203(k) consultant).

  3. Cost.

    LIMITED: Total renovation costs cannot exceed $35,000. There are no minimum costs.

    STANDARD: Your repairs and renovations can go above $35,000. There is a minimum repair cost of $5,000. 

Eligible repairs you can make with a Limited 203(k)

  • Repairing or replacing the roof, gutters or downspouts
  • Repairing or replacing HVAC, heating, plumbing, or electrical systems
  • Repairing or replacing flooring
  • Minor remodeling
  • Indoor or outdoor painting
  • Replacing appliances
  • Accessibility upgrades
  • Abatement of lead-based paint
  • Repairing or replacing decks, patios, and porches
  • Waterproofing or finishing a basement
  • Weatherization

Eligible repairs you can make with a Standard 203(k)

  • Plumbing, electrical, heating, and cooling improvements
  • Structural changes
  • Storm shelter additions
  • Appliance and HVAC upgrades
  • Roofing alterations
  • Large landscaping and site improvements
  • Sewage and septic improvements
  • Site conversion (from a single unit to multi-unit property, for example)
  • Site relocation
  • Accessibility upgrades

This is a basic overview of the differences between the Standard and Limited 203(k) loan. Let us know if you want to learn more about how these loans can help you live in the perfect home 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!

4732 SANDPOINT Road NW, Albuquerque, NM  $365,000

 

4 Bedrooms / 3 Bathrooms (3 full, 0 half) / 2915 Square Feet

All brick KB home with amazing Chef Kitchen with viking appliances, cherry wood soft close cabinetry, tankless water system, Easy Water whole house system, Solar System owned by the seller (not leased),custom tile floors, Brazilian cherry floors on the loft, custom wood banister(railings), Washer,dryer refrigerator and pool table conveys.Home has numerous skylights, fully professionally landscaped with water features!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Protect Your Albuquerque Home From Theft

by Sandi Pressley

It's not something we like to think about, but home crimes can happen to anyone at any time. As a homeowner in Albuquerque, you know doubt have already taken steps to secure your home and protect your family.

Your main goal when it comes to home security is to prevent criminals from damaging, stealing, or breaking into your home in the first place. That doesn't just mean locking doors and windows. It involves taking into account your property's security weak points and resolving any issues. And criminals are getting more clever, even using online activity to find targets.

What are some basic steps you can take to make sure your Albuquerque home is secure?

  • Even if you’re home, lock windows and external doors when not in use.
  • Lock up your home, even if you go out only for a short time. Many burglars just walk in through an unlocked door or window.
  • If you lose your keys, change the locks immediately.
  • Don’t put an outdoor spare key in an obvious place like under a doormat or potted plant.
  • Keep a light on when you’re not home. This could signal to potential intruders that someone is inside the home, potentially deterring them from trying to break in.
  • Don't leave notes for service people or family members on the door. These act as a welcome mat for a burglar.
  • Keep items of value, like fine jewelry and gaming consoles, out of plain view as much as possible.
  • If you leave your home for an extended period of time, have a trusted friend or family member grab your mail while you’re away. You can also place a hold on your mail with the post office.

Technology Can Help

Of course, by now you've heard about smart home systems that can keep an eye on your home while you're away. You can start with a device as simple as a video doorbell, or up to camera alarms that are professionally monitored 24/7. Here's a few options:

  • Easy to install outdoor motion sensors. These range from $20 - $100.
  • Smart camera system to watch your home remotely through a phone app. These will alert you when they sense motion or someone trips a sensor.
  • Make sure to hide any wiring, as they can be cut and could disable your security system.
  • If you don't have the budget, even a fake security sign or sticker on the window can deter criminals.

How can you make sure your home is secure? You can plan to 'burglarize' your own home to discover any weaknesses in your security. The best way to protect your home from the outside is to survey it with the eyes of a burglar. If you can easily tell that a window could be pried open, a thief will definitely be able to come to the same conclusion. 

While you’re checking for vulnerable spots, take note of any expensive electronics, art, or furniture that is easily spotted through windows. You don’t have to redecorate your entire home to keep expensive items out of sight, but it doesn’t hurt to make small adjustments where you can.

If you follow these tips, you can help reduce the chances of your home being the target of criminal activity.

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!

1541 Nez Perce Loop NE, Rio Rancho, NM 87144  $599,000

4 Bedrooms / 4 Bathrooms (2 full, 2 half) / 3644 Square Feet

Stunning Views! This home will WOW your buyers! Wide open floor plan with 2 living areas, perfect for entertaining. Gorgeous wood beam accents, custom kiva fireplace & large picture windows with mountain and city views. Well appointed kitchen features granite counter tops, custom cabinets & SS appliances. Brilliant floor plan offers 2 master suites, 2 additional spacious bedrooms and 2 bonus rooms, plus a formal dining room overlooking the wrap around balcony. Master suite is a gem has a picturesque jetted tub, separate snail shower & large walk in closet. Enjoy the views from your covered patio & wrap around balcony year round! New Septic and Well in 2017 - All New Paint inside and out 2019! Hardwood floors refinished 2019! New Driveway! This home is sure to impress!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

What Are E-Closings?

by Sandi Pressley

Back in the days before the coronavirus, closing on a home purchase in Albuquerque was an affair that included a bunch of people passing pens and paper around the table, exchanging handshakes. Today, that's a scene that evokes a bit of cringing. Times have changed, and so have the way we close on home purchases. Now, lenders use what are called e-closings to navigate social distancing guidelines.

An e-closing doesn't mean that the whole process is done online only. There is still some limited personal interaction. The interesting thing is that this new way of mortgage closing is likely to proceed faster than a traditional mortgage closing, and you’re probably going to be more well-informed about what’s happening each step of the way.

What is an e-closing?

An e-closing is a loan closing where at least one document is signed electronically. 

In the past, closing documents were paper and ink. Lately, this has been transitioning to include electronic methods. The most important documents, such as the promissory note, transfer deed and deed of trust or mortgage, are still signed with ink on paper. The less important documents, such as the Closing Disclosure and escrow disclosure, can signed electronically.

Not all e-closings are the same

There are three types of e-closings:

  1. Hybrid e-closing. The borrowers and notary meet in person, and they sign some documents digitally and they sign some documents traditionally. Most e-closings are of the hybrid type.
  2. In-person e-notarization, or IPEN. The borrower and notary public meet face to face. All the documents are digital and are signed electronically on a tablet or computer and digitally notarized.
  3. Remote online notarization, or RON. All documents are signed electronically, and the borrower and notary meet by webcam instead of in person. Not all states, including New Mexico, allow RON, but that list is shrinking, as more states are allowing this provision. 

What happens at an e-closing?

Simply put, you sign documents digitally at an e-closing. This may be done by typing your name, or by adding a snapshot of your signature by clicking a mouse or tapping a tablet.

A notary still must confirm your identity. This may be done in person or by an online meeting service. They may as you questions that only you would be able to answer, such as questions about your personal or credit history.

How e-closings benefit mortgage borrowers

The convenience of e-closings is quickly becoming apparent, as it allows borrowers to close from virtually anywhere in the world.

According to a study conducted in 2015 by the Consumer Financial Protection Bureau “to explore whether the use of e-closing technology combined with more time to review closing documents with embedded educational tools can help consumers navigate the closing process”, it was concluded that borrowers understood the closing process better. They got their disclosure documents earlier, giving them more time to review the paperwork. 

What mortgage lenders get out of e-closings

Lenders have much less paper to deal with on an e-closing. Plus, they can track electronic documents much more accurately. The process of closing is also faster.

Another benefit is that an electronic document can't be submitted without a signature. That's not the case with paper documents. On a paper document, a missing signature might not be detected immediately, causing headaches and delays.

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!

60 SANDIA MOUNTAIN RANCH Drive, Tijeras, NM 87059  $575,000

4 Bedrooms / 3 Bathrooms (1 full, 2 half) / 4255 Square Feet

Very special mountain home with incredible views, patios and balcony! Well designed floor plan with 3 wings. Master suite retreat with walk-in closet, jetted tub and connecting laundry. Two bedrooms in the second wing with bath and an office or 4th BDR in the third wing. Great room with cozy fireplace, formal dining room with private deck, gourmet kitchen with granite counter tops, SS appliances, wine fridge, gas cooktop, bar, recessed lighting, bkfst nook with amazing views! Special features include an elevator and approx 1500sf of living space; game room, exercise room, media room and workshop!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Living in this time of uncharted waters can cause much anxiety, frustration and confusion. As a homeowner you may be concerned about the ability to pay your mortgage. According to Computershare Loan Services in the U.S., currently 8% of homeowners have filed for forbearance. Even if your current loan servicer offers forbearance under the CARES Act, much confusion still exists about the program requirements & impact.

Here’s what you need to know:

Forbearance does not mean Forgiveness

This program was initially offered for 90 days for those impacted by COVID 19 for financial hardship but can be extended up to 1 year. However, once the forbearance period is over, the amount will need to be repaid. Meaning it is not forgiven. Options for repayment are being reviewed at this time for all mortgage lenders. The FHFA issued a statement today that mortgages serviced under Fannie Mae & Freddie Mac will not have a lump sum due at the end of the forbearance- but that only covers mortgage loans held by Fannie Mae & Freddie Mac. It is critically important that you discuss these terms with the servicer of your mortgage so you will not be in an even more difficult situation following the forbearance.

The statements below are directly from Freddie Mac (mortgagenewsdaily.com)

“Homeowners with a hardship can have up to 12 months of forbearance although servicers will typically start with a shorter timeframe, reassessing it over time. Once the hardship has been resolved the homeowners will have the following options.

  • Full repayment or reinstatement. Missed payments are repaid, putting the loan back on track

  • A repayment plan which allows borrowers to pay their regular monthly payments and an additional amount so they can catch up gradually.

  • Payment deferral or modification. This would keep the monthly payments as originally agreed. The missed payments are added to the end of the loan.

  • Loan modification. Changing the interest rate, loan term, or some other feature to lower the original payment amount.”

Will the forbearance impact my credit score?

In accordance with the CARES Act, a forbearance will not affect your credit score. However, any missed payments before the forbearance period, or an inability to repay the amount owed after the end of the forbearance, will negatively affect your credit score.

Can I refinance my loan after a forbearance?

While forbearance will not affect your credit score, the one little known fact that is extremely important is that it will affect your ability to refinance. Any two missed consecutive payments in a 12-month period will show a gap in your payment history…and this will affect the underwriting of the loan. Therefore, you would not qualify to refinance until after a 12-month period of timely payments has been established after the forbearance.

Will I be able to do a future home purchase after a forbearance?

Just as in the refinancing of a loan, your payment history will be affected and impact your ability to purchase a home after forbearance. The simple act of applying for forbearance, will be on your record and will prevent you from qualifying for a new mortgage- even if you decide not to go through with the forbearance and make all your monthly payments on time, the record will show the forbearance. Once the approved forbearance period is over, you will need to show 12- months of timely consecutive payments to eventually qualify for a new home mortgage.

What is the impact on Private Loans vs Government Secured Loans?

At this time approximately 30% of homeowners utilize private loans, which are NOT included in the CARES Act! All government secured loans are eligible. The option does exist for local governments to offer their borrowers payment suspensions. This, however, would be on a state to state basis and should be discussed with your lender.

If I start the forbearance process, can it be cancelled or reversed?

It is extremely important that you evaluate all aspects of the forbearance program and its affect on you prior to choosing the option. While you may be able to cancel your request and continue paying your mortgage monthly, the documentation to your credit file will be noted and will impact your refinancing and buying activity moving forward. With loan servicers inundated with calls and requests, getting personal assistance with removal of this from your record may prove to be difficult.

It is always recommended to speak with your servicing lender before making these decisions.

The bottom line is this: If you can afford to make your monthly mortgage payments, make them! This will ensure you have all options available to you in the future for refinance or purchase of a new property.

Here at the Sandi Pressley Team we have adapted and created successful virtual and high-tech tools that are allowing our clients to successfully buy and sell homes during this unique time.

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!

6038 DEL CAMPO Place NE, Albuquerque, NM 87109  $165,000

2 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1271 Square Feet

Lovingly tended and cared for charming townhouse! Courtyard with gate for privacy. New furnace and refrigerated air unit. New carpet and tile in bathrooms! Large living area with lots of natural light. Backyard has covered and open patio. New Roof 2019, HOA Covers Exterior of Residence- Roof, Stucco, Pool, Club house Etc!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Disclaimer: The information contained herein has been researched but is evolving on a daily basis. Each consumer should always do their own research and speak with their lender before making any decisions. Coldwell Banker Legacy/ Sandi Pressley, Inc/Sandi Pressley Team are not liable for the content contained in this blog.

Ideas to Make This a Mother's Day to Remember

by Sandi Pressley

Are you stuck thinking of ideas for Mother's Day this Sunday, May 10? The lockdown has made life a challenge, but don't worry, you can still share a special day with mom in Albuquerque. Here's a few ideas that will help you make this Mother's Day 2020 one to remember.

Share a meal

Sure, you can't eat in a restaurant right now, but many restaurants in Albuquerque are offering takeout or delivery. You can eat together in person if you live together, or set up a virtual meal through video conferencing. You can have the food delivered to you separately at about the same time to make sure your food is ready in both locations.

Enjoy nature together

The weather is going to be beautiful this Sunday, so why not sit together on the porch and just enjoy the fresh air. Poor some lemonade or wine, sit back, and relax.

Relax with casual activities

Another relaxing way to spend time together, virtually or in person, is to watch a favorite movie or TV show. Many major TV stations like ABCNBC, and CBS offer full episodes of their shows for free on their websites and through their apps.

You could also do a jigsaw puzzle, sudoku, or crossword puzzle together. If you’re not in the same household, it doesn’t have to be the same puzzle. The goal is to enjoy an activity together.

Bake or cook together

Why not spend the day baking or cooking a favorite dish or dessert? Depending on each of your abilities, one of you can prep for the other, or just be a taste-tester.

Relax with music

Another activity that can be enjoyed in person together or via video call or telephone is to listen to music together. If you both play the same song, you can listen or even sing along together. If one or both of you plays an instrument, you can pick a song or two to parter up on.

Whatever you do, make this Sunday a Mother's Day to remember. Your mom deserves it!

Happy Mother's Day!

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!

6038 DEL CAMPO Place NE, Albuquerque, NM 87109  $165,000

2 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1271 Square Feet

Lovingly tended and cared for charming townhouse! Courtyard with gate for privacy. New furnace and refrigerated air unit. New carpet and tile in bathrooms! Large living area with lots of natural light. Backyard has covered and open patio. New Roof 2019, HOA Covers Exterior of Residence- Roof, Stucco, Pool, Club house Etc!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Is a Bidet Right for Your Albuqerque Home?

by Sandi Pressley

It goes without saying that this year will be remembered for decades, especially when we see a roll of toilet paper. The stunning suddenness of the lack of TP on the shelves has had many people in Albuquerque and around the nation looking for alternatives. One of the options that stands out is a device that's actually very popular around the world. The bidet.

As such, it's time to ask: Should America switch to using bidets?

What is a bidet?

Most of us who have lived in the US and never traveled around the world have probably never seen a bidet, let alone used one. But they are quite common in Asia and Europe. Simply defined, a bidet is a fixture that shoots a stream of water to take care of post-toilet personal hygiene.

How much do they cost?

As you might have guessed, the cost of a bidet varies quite a bit. You can get a basic standalone model for around $200. You can pay up to $1000 if you want to go all out, with features such as an automatic lid that opens and closes with the touch of a button, an LED nightlight, stainless steel nozzles that look prettier than plastic ones, and a heated seat.

There are other options to installing a standalone bidet that are more affordable. You can add a bidet attachment to your existing toilet, which is also faster to install. It's basically a little hose inside the toilet that shoots water where you need it. And you can install it yourself, saving even more money.

You can also go with an integrated toilet option, such as Toto's compact Washlet G500, which comes with a built-in deodorizer, sensor-activated lid opener, and hands-free automatic flusher. Or you can buy a bidet seat, which will convert your current toilet. With electronic models, the touch of a button extends a small nozzle beneath you that sprays a comfortable stream of warm, aerated water. When you’re done, the nozzle automatically cleans itself before retracting back into its sleeve.

Why are they so popular around the world?

There's some very good reasons why bidets are so popular around the world.

  • You save money

    We use a staggering 36 billion rolls of toilet paper per year in America. That adds up to a lot of money being litterally flushed down the toilet. The average US houseld spends hundreds of dollars each year. That's enough to buy a fairly decent bidet. You will still need to use some TP with a bidet, but it's just to pat yourself dry. So you're still saving a great deal of paper.

  • Environmentally friendly

    Using less toilet paper can only be a good thing for the environement. 36.8 billion rolls of toilet paper is roughly 15 million trees. Can you imagine the impact if just 50% of the population in this country switched to using bidets?  

  • It’s more hygienic

    We usually don't think about the fact that TP is bleached, which means you're rubbing chlorine and chemicals on yourself. Water is understandably cleaner and does a better job of cleaning.

  • It’s better for your plumbing and septic system

    No clogging up your system.

  • It can reduce health problems

    Toilet paper can aggravate constipation or hemorrhoids. And people with limited mobility may struggle on the toilet. A bidet with a built-in blow dryer may seem like a luxury, but may actually be a necessity for some.

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!

5910 HANNETT Avenue NE, Albuquerque, NM 87110  $208,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1885 Square Feet

Terrific location close to Uptown, shopping, dining, parks, UNM! 3BDR/2BA/1CG! Versatile floor plan with 3 living spaces; combined living & dining space, separate hobby/office/bdr, plus large family room/den with cozy wood fireplace. NEW ROOF (2017-1018) Updated furnace (2017) Newer water heater! Lots of light, skylights, ceiling fans, separate utility room! Kitchen features new gas stove, lots of cabinets, tile floor, breakfast bar and is open to the dining room. Outdoor living space with covered patio and walled for privacy and storage shed.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Is a Recession the Same as a Housing Crash?

by Sandi Pressley

Many people who plan to buy or sell a home in Albuquerque fear that as we head into a recession, that this will lead to a housing crash. But will that be the case with this recession? The thing to keep in mind is that a recession and a housing crash are two different things.

What is a recession?

The National Bureau of Economic Research defines a recession this way:

“A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”

The Coronavirus restrictions hit the American economy in March. According to Goldman Sachs, JP Morgan, and Morgan Stanley are all indicating that there will be a deep dive in the economy in the second quarter of this year. 

Does that mean we’re headed for another housing crash?

Home buyers and sellers in Albuquerque and around the nation fear that we're going to see a repeat of the housing crash that happened during the Great Recession of 2006-2008. Yet if we look at past recessions, we can see that most do not impact home values adversely.

Doug Brien, CEO of Mynd Property Management, explains:

“With the exception of two recessions, the Great Recession from 2007-2009, & the Gulf War recession from 1990-1991, no other recessions have impacted the U.S. housing market, according to Freddie Mac Home Price Index data collected from 1975 to 2018.”

What are the experts saying this time?

This is what three economic leaders are saying about the housing connection to this recession:

Robert Dietz, Chief Economist with NAHB

“The housing sector enters this recession underbuilt rather than overbuilt…That means as the economy rebounds – which it will at some stage – housing is set to help lead the way out.”

Ali Wolf, Chief Economist with Meyers Research

“Last time housing led the recession…This time it’s poised to bring us out. This is the Great Recession for leisure, hospitality, trade and transportation in that this recession will feel as bad as the Great Recession did to housing.”

John Burns, founder of John Burns Consulting, also had this to say, based on his firm's research:

“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices).”

What does all this mean for home buyers and sellers in Albuquerque? It means that if you had plans to buy or sell a home in Albuquerque before the pandemic, there's no reason to derail your plans. These are uncertain times for sure. The Sandi Pressley Team is adapting to these changing times and are ready to help you realize your real estate goals. Contact us today to see how we can help you continue on your plans 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!

9214 REDMONT Road NE, Albuquerque, NM 87109  $435,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2695 Square Feet

This beautiful light filled Family Home in a fabulous NE Heights location has been meticulously maintained! Two living areas, cathedral ceilings, bright kitchen with large breakfast area, plenty of cabinets and a pantry. Kitchen is open to the family room. The master suite is spacious and truly a retreat. Enjoy the views from the balcony! Wonderful home and gorgeous landscaped yard for entertaining.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Moving Safely During the Coronavirus Pandemic

by Sandi Pressley

Moving into a new home in Albuquerque may have seemed like a daunting task before the COVID-19 pandemic. But now we have to take extra steps to make sure we stay safe and protect others as well when moving into a new home. 

If you can postpone your move, that would be ideal. But you may not have that luxury. And if you can move without a moving company, that's also ideal. But if you do need to hire movers, what steps can you take to move safely during this pandemic and protect everyone involved?

Before the Move

Contact your movers

Talk to your moving company about the safeguards they are implementing and best practices for moving day. Make sure you're both on the same page so that the move goes mor smoothly.

Buy all of your supplies in one go

You will want to limit how many times you go out to get supplies and how many stores you go to. Try your best to plan for what you need and get it all in one trip. You can use this packing calculator to get an estimate of what you’ll need based on the number of rooms and people in your house. Buy extra if in doubt.

Clean as you pack

Cleaning items before you pack has the dual effect of protecting yourself and others, as well as making less work when you unpack in your new home. Use disinfectant, and if you don't have any, make your own with a solution of one tablespoon bleach to one gallon water.

Finish packing at least 24 hours before the movers arrive

Coronovirus can last up to 24 hours on cardboard boxes. Even though your movers will be wearing gloves, it's an extra precaution to take to finish packing 24 hours ahead of the move and leave boxes untouched.

During the Move

Let your mover know right away if you or anyone in your family is experiencing coronavirus symptoms. 

Letting you movers know that someone is experiencing coronavirus symptoms won't necessarily cancel the move. But it will give your moving company the opportunity to put additional protocols into place to protect their workers. Also let them know if you or a family member are isolating due to exposure, as the same protocols will apply.

Provide hygiene products for your movers. 

Your moving company will most likely have all the hygien products the movers will need. But it won't hurt for you to have extra products on hand just in case, such as soap and paper towels by the sink, and hand sanitizer by the door. 

Don’t use free or recycled moving boxes. 

The virus can live on cardboard for as long as 24 hours, so picking up used boxes from stores or other sources outside your home is not a good idea. Your moving company may be able to provide new boxes, or you can purchase them yourself.

Postpone or cancel your move if you're high risk. 

If you are over 60 or have a pre-existing respiratory and cardiovascular condition, you should reconsider moving if at all possible. 

If traveling for your move, plan accordingly. 

Need to book flights or hotels for your move? Make refundable reservations and/or only work with companies that offer free cancellations. Ask about cancellation policies before you book so that you don’t end up wasting money later on.

Above all, use common sense when you move and stay safe.

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!

9214 REDMONT Road NE, Albuquerque, NM 87109  $435,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2695 Square Feet

This beautiful light filled Family Home in a fabulous NE Heights location has been meticulously maintained! Two living areas, cathedral ceilings, bright kitchen with large breakfast area, plenty of cabinets and a pantry. Kitchen is open to the family room. The master suite is spacious and truly a retreat. Enjoy the views from the balcony! Wonderful home and gorgeous landscaped yard for entertaining.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Things to Do in Albuquerque While in Quarantine

by Sandi Pressley

Most of us are stuck indoors for a while, and for our own good. No doubt you and your family have been finding ways to keep yourselves occupied and out of each other's hair. But there are certainly plenty of things you can do to pass the time that are interesting and productive.

What are some ways you can make your quarantine more interesting in Albuquerque? Here's a few suggestions.

Complete a puzzle. The bigger the better. Take out your old Rubik's Cube and bring back the memories.

Start a journal or blog. These are certainly interesting times to write about. But you can make it about anything you want. Go for it!

Practice that old instrument. Has it been a few years since you played that old guitar? Tune it up and start playing. Just try not to annoy the neighbors.

Write poetry. There are many things to write about here in Albuquerque. Maybe just a short haiku will do.

Learn a new language. Impress your friends by speaking a new language when you come out of quarantine. Download Duolingo, or a similar app, and teach yourself a foreign language.

Meditate. Try lying down with your eyes closed, palms up and while focusing on your breath. Or spend 20 minutes sitting crosslegged and repeat a soothing word to yourself in your head.

Write actual letters to family and friends. Yes, a good old-fashioned handwritten letter will lift their spirits, and yours. 

Learn calligraphy. YouTube can help. You can use your new skill writing those letters.

Put on a soap opera. Mute the sound. Create your own dialogue.

Go through your junk drawers and supply shelves. Organize and get rid of anything you don't need.

Bake those cake mixes you have sitting in the pantry. You know you have a least a couple of boxes. Learn how to make your own frosting if you don't have any.

Knit or crochet.

Try out at-home aerobics or yoga videos. Consider downloading a fitness app with workout playlists.

Take a bubble bath. A few candles and a glass of wine makes it even better.

Coloring books. You know you still love to color.

Go outside and draw. Do you have interesting things outside your home you can draw? Can you see the beautiful Sandia mountains? Test you drawing skills.

There's many more things you can do to stay busy at home. Come back to this blog every week for more ideas to help you deal with the virus, along with helpful real estate article and local Albuquerque news. Visit our other blog as well.

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. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Contact us today to help you buy or sell your next home in Albuquerque.

HOT HOME LISTING OF THE WEEK!

12906 ALICE Avenue NE, Albuquerque, NM 87112  $172,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 1443 Square Feet

This wonderful townhome has newer carpet & fresh paint in 2019. Refrigerated Air, Custom Brick fireplace and Banco (hearth). The great room is wonderful for entertaining, and an enclosed atrium opening to kitchen (window) and great room, great for dining or planting. Oversized garage, enclosed courtyard makes this your next home. Close to shopping and fwy. Don't wait!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Displaying blog entries 41-50 of 109

Syndication

Categories

Archives

Contact Information

Photo of The Sandi Pressley Team Real Estate
The Sandi Pressley Team
Coldwell Banker Legacy
10400 Academy Rd. NE Suite 100
Albuquerque NM 87111
505-980-2999
505-263-2173 / 505 293-3700
Fax: 505-212-0729

Quick links to this site are also SandiSells.net or SandiSellsHomes.com