Real Estate Information Archive

The summer fun continues in full force in Albuquerque in June. Celebrate summer with movies, festivals, dancing, live music, and the amazing food of the Southwest. Here’s a few upcoming events in Albuquerque that you can look forward to.

31ST FESTIVAL FLAMENCO INTERNACIONAL DE ALBURQUERQUE

June 9, 2018 - June 16, 2018
National Hispanic Cultural Center and Rodey Theatre on UNM Campus

The finest flamenco artists in the world come to the University of New Mexico every June for Festival Flamenco Internacional de Albuquerque, an 8 day flamenco extravaganza. The event celebrates this ancient Spanish-Gypsy art form that expresses the full range of human emotions. The festival has been drawing students and patron for over 30 years to the University of New Mexico, establishing it as the center for flamenco in the US.

HEIGHTS SUMMERFEST

June 9, 2018
North Domingo Baca Park, 7521 Carmel Ave NE, #605, Albuquerque, NM 87113

Start the Summerfest season at North Domingo Baca Park.  The City of Albuquerque will be hosting an evening full of sweet and savory treats, local beer, wine and spirits in the Microbrew Garden. You can shop from artisans in the market, and the kids will enjoy free activities. Then top it off with live music from The Squirrel Nut Zippers!

DOWNTOWN GROWERS' MARKET

Recurring weekly on Saturday
Robinson Park, Central & 8th Ave, Ste. 209, Albuquerque, NM 87102

This family friendly market is a weekly event on Saturday at Robinson Park. One of the largest and longest running markets in the state of New Mexico, it features endless local produce, prepared food, live music, arts and crafts, and fun activities. Admission is free, but donations are welcome to keep the market an Albuquerque tradition.

Check back on our blog every week for more real estate advice and local articles about living in Albuquerque. And make sure to follow us on Facebook for up to date real estate news for Albuquerque and surrounding areas.

HOT HOME LISTING OF THE WEEK!

1625 Los Alamos Avenue SW, Albuquerque, NM  $489,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 2775 Square Feet

Beautifully situated in Coveted Albuquerque COUNTRY CLUB NEIGHBORHOOD! Near parks and bike paths, and just blocks from downtown. Warmth and Charm exudes thru-out. Don't miss out on this one! 

Contact the Sandi Pressley team for additional details! 

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Memorial Day is fast approaching, so now is a good time to plan for the weekend if you haven’t already done so. It’s also the unofficial start of summer, giving us even more to celebrate. Albuquerque is the perfect place to both remember our veterans and enjoy the freedoms they fought for. Here’s a few events we can look forward to this Memorial Day Weekend in Albuquerque and the surrounding area.

Memorial Day Ceremony at New Mexico Veterans' Memorial Park

This special Memorial Day ceremony at New Mexico Veterans' Memorial Park features patriotic music and guest speakers. The ceremony takes place from 10am – noon on Memorial Day.

Memorial Day Ceremony in Rio Rancho

This remembrance ceremony will honor both those service members and first responders from the community.  The ceremony for service members begins at 11am at the Veterans Memorial Park, featuring speeches from the mayor and military personnel.  There will be a dedication ceremony after the ceremony for the new Metro Area First Responders Monument.

New Mexico Philharmonic Concert at the Zoo

The New Mexico Philharmonic brings it’s "Hooray for Heroes" concert to the Albuquerque Biopark Zoo. You can eat your picnic in the grass while enjoying American favorites along with the Jackie McGehee Young Artists' competition winners. The concert takes place on Saturday, May 26, at 8 p.m. Gates open at 6:30 p.m. There will be pre-concert entertainment for early birds and military discounts.

Albuquerque Blues and Brews

Round out the Memorial Day weekend with Blues and Brews, featuring top blues bands and non-stop samples from local craft breweries.  Have a great time with raffles, games, a cocktail bar and much more. All this happens on Sunday from 2pm – 6pm.

Have an Amazing Memorial Day Weekend!

HOT HOME LISTING OF THE WEEK!

12201 Mountain Haze Road NE, Albuquerque, NM  $750,000

5 Bedrooms/ 6 Bathrooms (3 full, 3 partial) / 4438 Square Feet

Luxury awaits you in this fully renovated and remodeled home in the sought after neighborhood of Primrose! 5 spacious bedrooms each with own bath, as well as a 20x17 Casita with private entrance and 3/4 bath! Outdoor kitchen, fire pit, mature landscaping and raised flower beds will make your backyard BBQ's a blast!  

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

There’s always something fun and exciting happening in Albuquerque, and May is no exception.  Even though the month is coming to a close, there’s still plenty of things to do.  Here’s a few events coming up to look forward to.

DOWNTOWN GROWERS' MARKET

Robinson Park
7:00 AM to 4:00 PM

Occurring every weekend until Nov 3, this family oriented event is one of the longest running markets in New Mexico.  In addition to the freshest produce around, you’ll find delicious prepared food, local live music, arts and crafts, and fun activities. Admission is free and donations are accepted to help keep the market running.

RAIL YARDS MARKET

Sundays 10am-2pm

Celebrate New Mexican culture as you browse through hundreds of food, farm, artisan, and healing vendors, along with live music and educational zones for the kids. This weekly market runs until October 3. Admission is free.

8TH ANNUAL ABQ BEER WEEK

Multiple Venues
May 24, 2018 - June 3, 2018

This 10 day event brings together the community to enjoy all the great local craft beers brewed in Albuquerque.  With over 70 educational events around the city, there’s plenty of brews to go around. These events will be sure to get your more involved and excited about the craft brew scene in Albuquerque.

ALBUQUERQUE WINE FESTIVAL

Balloon Fiesta Park
Visit site for times as they vary.

If local beers are not quite your thing, then you can enjoy the Albuquerque Wine Festival this memorial day weekend. In addition to the best wineries from around the state, you’ll find great food, arts and crafts and live music. And it’s set in the relaxed setting of Balloon Fiesta Park.

Join us twice a week on our blog for more great reasons to buy a home in Albuquerque and the surrounding area. And follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

1625 Los Alamos Avenue SW, Albuquerque, NM  $489,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 2775 Square Feet

Beautifully situated in Coveted Albuquerque COUNTRY CLUB NEIGHBORHOOD! Near parks and bike paths, and just blocks from downtown. Warmth and Charm exudes thru-out. Don't miss out on this one! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

For centuries, indoor gardens have been used to add color and life to homes of all kinds.  It’s not just looks that describe the benefits of planting an indoor garden.  Caring for an indoor garden is also a great way to deal with stress. It doesn’t matter if you’re just starting out or have been gardening for years, following a few basic tips will help you get a greener thumb.

Some might think that because they haven’t had success in the past with plants that they don’t have the “green thumb” their parents had. Better Homes and Gardens, all the way back in 1939, had this to say regarding that belief: “Mother's and grandmother's plants grew, not because of green thumbs, but because they were treated as living, feeling beings that required the same common-sense care as the canary or any other house pet."

You really just need some basics to have a thriving garden.  Sunlight and water are an obvious must have, but also consider other factors such as nutrients, cleansing and care to deal with the dry environment of your home. After you take care of these basics, then you’ll be on your way to growing a splendid garden.

Let There Be Light

It’s important to place plants in your home according to how much light they need.  Plants vary in how much natural light they need. Older homes, especially Victorian era designs, were made in such a way that natural light was plentiful, and as such plants could thrive. So if you live in a Victorian home, then finding enough light won’t be a problem. The challenge of newer homes and apartments is that there are fewer natural light sources, which can make it more of a challenge. But don’t let a little challenge stop you.

Finding windows that face south is the preferable location for most plants.  There are more hours of light for your plants to soak up what they need for photosynthesis. If you only have windows that face North, try going with plants that require minimal light, such as a fern, spider plant, or African violet. Pothos don’t need any light to thrive, in case you have very little to no natural light available.

Get With the Program

You also need to make sure you have a good care schedule for your plants.  Try to do research on the specific plant and what it needs. You need to make sure you have a schedule to water and feed your plants with plant food or fertilizer.  You also need to clean the leaves of larger plants with a damp cloth periodically. Also check for mold or pests as this will indicate if your routine is effective. Make sure to trim or thin out your plants on occasion.  Larger plant s may also need to be repotted in larger pots as they grow.

If your schedule doesn’t permit this level of commitment, why not start with plants that don’t require as much attention? Cactus, succulents, or bamboo plants are ideal choices. Succulents are a popular choice as they are easy to care for and offer unique textures and colors.

Of course there’s more to consider when it comes to having a thriving indoor garden. But with planning and patience, you can succeed. Join us on our blog every week for more home improvement tips and Albuquerque area real estate news and advice.

HOT HOME LISTING OF THE WEEK!

1625 Los Alamos Avenue SW, Albuquerque, NM  $489,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 2775 Square Feet

Beautifully situated in Coveted Albuquerque COUNTRY CLUB NEIGHBORHOOD! Near parks and bike paths, and just blocks from downtown. Warmth and Charm exudes thru-out. Don't miss out on this one! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

During the past few months, many people and new sources were speculating that the 2018 tax reform would adversely affect the real estate market. A number of sources were reporting a potential for double-digit price depreciation because of changes in the tax code. It was even suggested that there would be a significant drop in buyer demand. The dream of owning a home in America was feared to hang in the balance.

Here we are after the first quarter of 2018, and now we can start looking at the numbers and get a feel for the impact of the tax reform on the real estate market. Here are a few important questions we can ask.

1. Has tax reform killed off home buyer demand?

Taking a look at the Showing Time Index which “tracks the average number of buyer showings on active residential properties on a monthly basis” and is a “highly reliable leading indicator of current and future demand trends,” it’s evident that the number of home buyers has actually risen each month over the last three months and is even higher than it was for the same months last year. This shows that buyer demand is going up, not down.

2. Have the tax changes affected America’s belief in real estate as a long-term investment?

A few weeks ago, Gallup released its annual survey that asked Americans which asset they thought was the best long-term investment. This is what the survey showed:

“More Americans name real estate over several other vehicles for growing wealth as the best long-term investment for the fifth year in a row. Just over a third cite real estate for this, while roughly a quarter name stocks or mutual funds.”

It was also shown in this survey that there has been no real change of the percentage of Americans who believe real estate is a good investment in the past year.

3. Has the homeownership rate been negatively impacted by the tax changes?

In her latest “Z Report,” Ivy Zelman helps us to understand that the 2018 tax reform didn’t damage the homeownership rate. In fact it helped it.  She explains it this way:

“We have been of the opinion that homeownership is most highly correlated with income and the net effect of tax reform would be a positive, rather than negative catalyst for the homeownership rate. While still in the early innings of tax changes, this has proven to be the case.”

4. Will the reforms in the tax code cause home prices to tumble over the next twelve months?

According to CoreLogic’s latest Home Price Insights Report, home prices will appreciate in each of the 50 states over the next twelve months. Appreciation is projected to be anywhere from 1.9% to 10.3% with the national average being 4.7%.

As we’ve proceeded through the year, we can see that the dire predictions of the 2018 tax reform have not affected the real estate market adversely. If you’re ready to buy or sell a home in Albuquerque, let us help. You can search for your dream home now using our convenient home search tool. And make sure to follow us on Facebook for the latest real estate updates for Albuquerque and the surrounding areas.

HOT HOME LISTING OF THE WEEK!

3713 Glen Canyon Road NE, Albuquerque, NM  $275,000

4 Bedrooms/ 2 Bathrooms (1 full, 1 partial) / 2020 Square Feet

Well Cared for Holiday Park Home! Desirable Open Concept Floorplan-Great for Entertaining or just hanging out. Open Chef Inspiring Kitchen features a high performance THERMADOR duel fuel, drop in range. Backyard features; NEW patio cover, shady tree & shrubs. 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

It’s time once again to show our dear moms how much we appreciate them, and what better city to do so than in Albuquerque? Sunday May 13 is the perfect day to celebrate mom, with all the great brunch specials available throughout the city. You’ll find a wide variety of options for any taste and budget. So make sure you make arrangements now to reserve a table at one of these tasty destinations for a special brunch with mom.

Artichoke Cafe

11 a.m. - 3 p.m.

Enjoy exquisite dishes such as quiche Florentine, Sicilian baked eggs, salmon crepes, steamed artichokes, roasted garlic, crab cakes, charcuterie plate, soups, salads, and various entrees.  Top it all off with strawberry shortcake. Entrée selections feature poached salmon, pan roasted duck breast, baked ham, mushroom ravioli, prosciutto wrapped scallops, veal scaloppini and steak Diane.

El Pinto

10:30 a.m. – 2 p.m.

If local flavors are what you’re looking for, then El Pinto is the ideal place for Sunday brunch. Brunch items feature local dishes such as green chile cheese biscuits smothered in green chile white gravy with a side of choriz.  Or try the eggs Benedict, which includes eggs and pork loin on a green chile biscuit with a red hollandaise sauce.

Forque at Hyatt Albuquerque

11 a.m. - 3 p.m.

For the buffet lovers, you’ll find a variety of great buffets at the The Forque Kitchen and Bar at the Hyatt downtown. You’ll find breakfast items at the omelet and waffle stations, along with fresh fruits, breafast meats, eggs, potatoes and more. Or enjoy other buffet favorites like cured meats, salads, smoked salmon, grilled and chilled shrimp, tuna tataki, and orzo salad.

Tamaya Resort

10 a.m. - 2:30 p.m.

This delightful Sunday brunch buffet offers a crepe station, salads, chilled shrimp and crab claws, cheese and fruit platter, house cured salmon and assorted petite pastries. There’s also a carving station with prime rib, honey dijon pork loin and baby squash and asparagus. The chef's specialties offered are smoked pork, orange poppy seed pancakes, poached eggs, grilled chicken, green chile saffron poached salmon, and an assortment of vegetables. To top it all of there will be an extravagant dessert display.

Join us twice a week on our blog for more great reasons to buy a home in Albuquerque and the surrounding area. And follow us on Facebook for the latest Albuquerque real estate updates.

Have a happy Mother's Day!

HOT HOME LISTING OF THE WEEK!

6437 Dorado Beach NE, Albuquerque, NM  $295,000

3 Bedrooms/ 2 Bathrooms (2 full, 0 partial) / 1652 Square Feet

Hard to find one story townhome in the gated community of Tanoan's Torrey Pines!! Private courtyard and landscaped backyard! Master bedroom split floor plan. Excellent location in the FAR NE Heights, close to schools, parks, shopping, Whole Foods & Trader Joes!

Contact the Sandi Pressley team for additional details! 

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What really defines a city? Is it the people? The food? The culture? In the case of Albuquerque, it’s all these things, but even more so, the history of this unique city.  Albuquerque is one of the oldest cities in America. Officially founded 312 years ago in 1706, Native Americans called this place home for thousands of years. Today, Albuquerque embraces that past while looking forward to the future. It’s easy to see into the fascinating past of Albuquerque, through monuments such as the ancient rock carvings at Petroglyph National Monument, the vintage neon signs along Route 66, or the historic Old Town Plaza.

The area that would become Albuquerque has been populated and cultivated as far back as 2000 B.C. European influence on the area goes back to around 1540, when Spanish explorers under General Francisco de Coronado arrived. Colonists were granted permission in 1706 by King Philip of Spain to establish a new city, named in honor of Francisco Fernández de la Cueva, 10th Duke of Alburquerque, Viceroy of New Spain.  You’ll notice that the first “r” in the name has disappeared over the centuries, probably due to the difficulty in pronouncing the name, bringing us the modern spelling of Albuquerque.

The rich history of Albuquerque is evident in the daily life of residents, particularly in the Historic Old Town.  It’s a place where you can get away from the hustle and bustle and step back in time as you go about your modern affairs. Residents and visitors alike enjoy shopping in more than 100 stores and galleries that feature the stunning artwork of the Southwest. You’ll also find world-class exhibits in the Albuquerque Museum, New Mexico Museum of Natural History and Science, and Explora Science Center and Children's Museum.

The architecture of Old Town hasn’t changed much since it was built over 200 years ago. The beautiful plaza still hosts events much as it did so long ago.

The beautiful and amazing past of Albuquerque is just waiting for you to explore and call home. If you’re looking for the ideal home in this historic city, contact us today, or search for a home online. And make sure to check back on our blog twice a week for more great reasons to call Albuquerque home.  And don’t forget to follow us on Facebook for the latest Albuquerque real estate news.

HOT HOME LISTING OF THE WEEK!

10465 Chandler Drive NW, Albuquerque, NM  $260,000

3 Bedrooms/ 4 Bathrooms (2 full, 2 partial) / 2200 Square Feet

Original owner`Pride of Ownership shows thru-out in this meticulously cared for beautifully kept home. 3 bedroom home features 2 master bedrooms each with a full bath. Large 3 car garage room for all of your toys. 

Contact the Sandi Pressley team for additional details! 

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When it comes to buying a home in Albuquerque, the biggest factor in whether or not it’s possible boils down to income.  And of course, depending on where you live, income and cost of living can vary drastically.  A new study by GOBankingRates endeavored to reveal what the minimum salary would be needed to buy a medium priced home in each state.

The great news is that New Mexico, and by extension Albuquerque, came out as one of the most affordable states to buy a home. GOBankingRates arrived at this conclusion based on the average mortgage payment for each state along with the average APR on a 30-year fixed-rate mortgage.  They then assumed that no more than 30% of monthly income would be spent on housing.  For New Mexico, that figure came out to only $40,960!

Other neighboring states turned out to be quite a bit higher.  You would need to make $55,680 a year to own a home in Nevada. Arizona is higher as well with $50,880.  If you bought a home in Colorado, you would need to make at least $73,600. So it really goes to show that if you plan on buying a house in the Southwest, your dollar goes farther in Albuquerque.

GoBankingRates has this advice,

“Before you buy a home, it’s important to find out if you can afford the monthly mortgage payment. To do this, some financial experts recommend your housing costs — primarily your mortgage payments — shouldn’t consume more than 30 percent of your monthly income.”

Historically, Americans have spent 21% of their income to own a medium priced home.  Today that figure is down to 15%! This all demonstrates that now is a great time to own a home in Albuquerque.

If you're looking to buy a home in the Albuquerque area, feel free to contact us to help you find the right home for your budget and income. You can also search for your dream home now using our convenient home search tool. And make sure to follow us on Facebook for the latest real estate updates for Albuquerque and the surrounding areas.

HOT HOME LISTING OF THE WEEK!

15 Calle Cobre, Placitas, NM  $498,000

5 Bedrooms/ 3 Bathrooms (3 full, 0 partial) / 3200 Square Feet

Exquisite Placitas property nestled on 2.25 AC w/stunning views. Custom home offers functional open floorplan w/radiant heat, soaring ceiling w/viga& latillas, kiva FP, nichos&surround sound thru-out main floor. Back yard offers large deck w/breathtaking views-Perfect for entertaining. 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

There’s one thing you should expect to find in a Southwest city like Albuquerque – amazing Mexican cuisine. Not only will you find some of the best Mexican dishes anywhere, but the best flavors the Southwest has to offer as well.  The epicenter of the explosion of flavors in Albuquerque’s restaurant scene is definitely the many great Mexican restaurants to be found here – over 200 of them to be discovered. 

To get you started on your journey through Mexico’s finest flavors, here’s the top 4 places to enjoy Mexican and Southwest cuisine in Albuquerque.

Padilla's Mexican Kitchen

A staple for Mexican cuisine lovers in Albuquerque for decades, Padilla’s authentic Mexican dishes are certain to please any pallet.  It may always be busy, but the service is fast and friendly.  All dishes are home made, including their mouth watering tacos, enchiladas, tamales, and fresh made Sopailla’s.

The Range Cafe

If not everyone in your party is in the mood for Mexican food, then The Range Café is the perfect solution.  Their motto is “ordinary food done extraordinarily well,” and that motto has been demonstrated since 1992 with an outstanding menu selection from both sides of the border.

Monroe's Restaurant

Another great restaurant in Albuquerque for those who like both Mexican and American dishes, Monroe’s even offers dishes for those watching their carbs and gluten intake.  They also offer a great selection of beverages including the unique agave wine margarita. Also make sure to try their famous chile.

Cocina Azul

Family owned since 2009, Cocina Azul has become of the best new Mexican restaurants and catering businesses in Albuquerque. Created from scratch, their recipes have been handed down through the generations.  Owner Frank Barela, Sr. has recreated all of the dishes he learned to cook as a child in his family kitchen.  You also delight in their award winning chile made only from green chile grown in Hatch, New Mexico.

Join us twice a week on our blog for more great reasons to buy a home in Albuquerque and the surrounding area. And follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

5243 Foothills Trail NE, Albuquerque, NM  $798,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3156 Square Feet

Gated community of the Wilderness! Casual elegance abounds in this Scott Patrick Gold Package custom home. Tons of features include Oversized great room w/stacked stone fireplace, wall of windows! Gourmet kitchen has custom island, pantry, gas cooktop, custom cabinetry, Sub Zero fridge, Wolfe double oven. Private Master Suite on its own wing! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

If you’re getting ready to buy a home in Albuquerque, you need to know as much as you can.  If you’re looking for a mortgage that lets you put down less than 20%, you’ll notice a lot of programs out there that lets buyers purchase homes with less than 20% down. But do you know about Private Mortgage Insurance? Not everyone knows about this insurance policy called Private Mortgage Insurance (PMI). What exactly is this policy and how can it protect you when buying a home in Albuquerque?

Freddie Mac defines PMI as:

“An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.

Once you’ve built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”

As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. Freddie Mac goes on to explain that:

“The cost of PMI varies based on your loan-to-value ratio – the amount you owe on your mortgage compared to its value – and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.” 

According to the National Association of Realtors (NAR), the average down payment last for all home buyers across the nation was 10% and 5% for first time buyers. The average for repeat buyers was 14%. That means that Private Mortgage Insurance didn't stop many home buyers from buying homes.

Here’s an example of the cost of a mortgage on a $200,000 home with a 5% down payment & PMI, compared to a 20% down payment without PMI:

The larger the down payment, the lower your monthly housing cost will be, but Freddie Mac has this advice:

“It’s no doubt an added cost, but it’s enabling you to buy now and begin building equity versus waiting 5 to 10 years to build enough savings for a 20% down payment.”

If you're looking to buy a home in the Albuquerque area and have questions about buying now or saving for a larger down payment, feel free to contact us to help you decide what works best for your situation. You can also search for your dream home now using our convenient home search tool. And make sure to follow us on Facebook for the latest real estate updates for Albuquerque and the surrounding areas.

HOT HOME LISTING OF THE WEEK!

8520 Hawk Eye Road NW, Albuquerque, NM  $260,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3486 Square Feet

Incredible back yard perfect for entertaining family & friends, with Outdoor kitchen, built in grill, tile bar, flagstone open & covered patios, pergola, hot tub, fire pit, garden area, trees, and shrubs! Exceptional home with many custom upgrades including stacked stone accents, light fixtures, wrought iron stairway! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team