Real Estate Information Archive

You’ve made your decision. You’re moving to Albuquerque. You even found a great house. Time to start packing. As well as tell the kids. It doesn’t matter how far you are moving. Moving at all can be an unpleasant event in a child’s life and can be overwhelming for any child. Not only is there the chaos of packing, kids are forced to say goodbye to friends, teachers, and the familiar comfort of their community.

For the children of military families, there are particularly acute challenges during relocation—or Permanent Change of Station. Military families relocate more frequently than civilian families (every two to three years, on average) and they tend to move greater distances. When military families move from bases to civilian neighborhoods, children often feel isolated from their peers, who can’t identify with the military lifestyle.

By preparing for the move in advance, keeping lines of communication open, and maintaining a positive attitude, parents can help their kids cope with the challenges of relocation. Here are some tips for ensuring that your child transitions smoothly from one home to another.

First Try a Family Meeting.

Before you prepare to relocate, talk to your child about what the move will be like, and what challenges might occur during the process of relocation.

Get some take out and have an enjoyable family diner, that way you can casually bring up the subject. This gives you a chance to slip into the conversation without too much upset and to let them know why the move is necessary. It’s also a good opportunity to let them ask their questions, so you can answer them and ease any concerns they will have.

Get Them Involved in the Process.

This is also a good opportunity to go through the house and clean out all the unnecessary stuff that that your family have picked up over the years. Get the kids to help you decide what can be trashed, donated or sold. Moving sale time!

Younger kids also benefit from transitional exercises before moving to a new home. Let your child help out with packing, or encourage her to choose the color of her new room. Involving children in the move in this way has the added benefit of making them feel in control at a time when events in their lives can seem out of control.

Encourage them to Learn More About Where Your Family is Moving.

Help them learn as much about their soon to be new community. Encourage them to do some of their own research. Help them check out the local schools and school district. A website of the local schools with pictures would be a great help and let them get an idea of where they’ll be attending school. You could also try to find a local online paper to help the whole family get a feel for the local people and issues.

Establish a routine

When unpacking all those boxes in a new home, keeping regular mealtimes and bedtimes might not be your biggest priority. But it’s important to try and establish a routine for your kids as soon as you get to the new location.

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If you've thought about restructuring your mortgage, you no doubt have certain goals in mind. Maybe you want to free up funds for a purchase, reduce your monthly costs, or pay off the mortgage faster.

There are three strategies that can work to restructure your mortgage:

• Send in extra money to pay down principal.
• Recast your mortgage.
• Refinance your loan.

Send in Extra Money to Pay Down Principal

Around 40 years ago, Marc Eisenson coined the term “banker’s secret,” which promoted a cost-saving idea. It's quite simple: pay more per month than required on your mortgage. Eisenson says, “It was a secret that bankers knew, but didn’t share with their customers.”

Here’s how it works. If you take out a $200,000 30-year mortgage at an interest rate of 6%, and just make the minimum payments, you’ll pay a total of $382,537.97 for your home, including interest of $182,537.97. However, if you send in just an additional $100 each month, you’ll save more than $49,000 in interest over the term of the loan.

And for the bonus: You'll pay the loan off over 5 years early! It's an easy way to restructure your loan without extra fees or hassles.

You can also pay off your loan early with a bi-weekly payment plan. Your bank can set this up, but they may charge a lot of money for this service. If you have the self-discipline to do this yourself, that's the way to go.

With this strategy, you make half your monthly mortgage payment every two weeks, which equals 13 payments a year instead of 12. With bi-weekly payments on a 30-year $200,000 loan, you’ll save more than $49,000 in interest over the course of the loan, and pay it off approximately five years earlier.

Other ways to easily do it yourself:

• Make one additional mortgage payment per year at any time.
• Divide your monthly payment by 12, and add that extra amount each month when you pay your mortgage.

Recast Mortgage for Lower Payments

Another way to restructure your loan is called to recast it. You'll need at least $5,000 to recast your mortgage. Recasting a loan changes the principle balance, not the interest rate or term.

Here’s how it works: You've been paying your mortgage for 10 years at 6%, with a monthly payment of $1,432.86. You balance is now $200,000. You contribute an additional $20,000 in the recast. Now your principle is $180,000, and you still have the remaining 20 years to pay it off at 6%. Now your new monthly payment has been reduced by $143.28, making the payment $1,289.58.

It will usually cost a fee for this service. The bank doesn't make anything from this, except retaining you as a customer. As such, they usually won't promote this method. Not every lender will recast a mortgage, but it never hurts to ask.

Refinance Your Loan

Refinancing a loan is the most common method of restructuring. In this case, you're replacing your current mortgage with a new one at a lower rate. If you took that same $200,000 balance on your 6% mortgage and refinanced into one with a 5% interest rate, you’d reduce your monthly payment from $1,199 to $1,074, saving $125 monthly.

Keep in mind that this method is the most challenging, so you need a good credit score and solid job history. There are also closing costs, which can run 3% to 6% of the loan amount.

These tips are appropriate if you’re current on your mortgage and have extra money. Struggling home owners should consider the government-sponsored Home Affordable Modification Program (HAMP) for mortgage restructuring.

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No matter how you slice it, moving is exhausting. Packing up, moving, and then unpacking an entire house is the worst.

Yet there are ways you can cut down on all that aggravation, effort, and anxiety. Here's a few pro tips that can help during your next move.

Do a Pre-Pack Photo Shoot

Here's an idea that can save your memory and sanity. Trying to remember where all those cords go and how you had your bookshelf looking so good can get mind-numbing when you mix it in with the rest of the process.

Save yourself some grief by taking pre-packing photos of all those things that were hard to arrange int he first place, so you won't have to figure it out again. With photos in hand, you’ll be able to recreate it all in record time.

Corral Cords With Toilet Paper Rolls

There's nothing more frustrating than not being able to find extension cords when you need them during a move. You know you've seen them laying around, but where?

When you pack, wind up each cord in a 6-inch coil, then insert it in a toilet paper roll. You’ll have lots more room in the box, and no tangled mess to unpack later. Just remember to clearly label the box!

Create a "Moving Toolbox"

Keep all your moving tools, such as your Sharpies, packing tape, box cutter and such together in a “moving toolbox” that you can take from room to room as you pack. This will keep you from misplacing small essential items when your house is full of boxes.

Tape Appliance Cords to Their Homes

You could be exploring your new neighborhood, but you're too busy trying to find the right power cord for your appliances.

You can save more time by taping the plug to the appliance it belongs to. Then go get a taco on the corner with your reclaimed time.

Use Your Towels, Blankets as Packing Materials

Another way moving day gets frustratingly extended? Your third trip to the store to buy more bubble wrap.

Kudos on treating your breakables with care, you don’t need the store-bought stuff. Pot holders, oven mitts, and even those old paper and plastic grocery bags you were planning to recycle make great packing materials. Also consider towels, pillows, blankets, the kids’ stuffed animals — whatever’s soft!

Color-Code Boxes

If you’re paying movers, really get your money’s worth by making it easy for them to deposit every box in the right room.

Assign a color to each room, then mark that color on the outside of each box. Before movers arrive, add the correct color label to each room’s door. They’ll love the simplicity, and you’ll love not having to haul everything that was supposed to go in the office out of the playroom.

Search for your dream home in Albuquerque with our easy to use home search. 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.

Do you know all the places where you waste energy? We may think we know where all the energy wasting hot spots are, but have you thought about dirty light bulbs?

Dirty light bulbs and fixtures not only waste energy, but if you're selling your home in Albuquerque, they can detract from the cleanliness of your home when it's being shown.

True, cleaning light fixtures isn't everyone's favorite job. You need a stepladder and a steady hand. But it's a necessary task that should be done at least every few months.

Dirty bulbs shed 30% less light than clean ones, says the U.S. Department of Energy. Add a dusty, dead-bug riddled cover, and you’ve got an automatic dimmer, whether you want one or not.

Light Bulbs

Light bulbs have much longer lifespans than they used to, thanks to LED and CFL technology. So obviously they'll get dirtier and need cleaning from time to time.

Wipe bulbs with a dry cloth, not wet. Water can get into crevices and damage electronics. Also, don’t spray cleaning solutions directly onto the light bulb, which could damage the bulb. Turn off the electricity to the fixture before messing with the bulbs.

Ceiling Fixtures

Bugs and ceiling fixtures go together like PB&J and is just as messy (and far less tasty). Remove fixtures and soak in a sink with soapy water. Dry and shine with a microfiber cloth.

Don't put glass fixtures in the dishwasher. The glass is not designed to be dishwasher safe and can damage both the fixture and the dishwasher.

Recessed Lights

Dust with a long-handle duster, such as a Swiffer, that traps dust and cobwebs. For a more thorough cleaning, wipe the insides of canisters and the bulbs with a microfiber cloth or a slightly damp rag.

Before cleaning, make sure the electricity is off and the bulb is cool.

Ceiling Fans

Dust the lights on ceiling fans when you clean the fan blades. When a bulb goes out and you have to climb a ladder anyway, clean globes and bulbs with a microfiber cloth. If the globes are really dirty, take them down and clean with soapy water or a cleaning solution.

When removing or returning globes or bulbs, be sure not to steady yourself by grabbing fan blades, which will turn if touched.

Tricks of the Trade

1. Dryer sheets are low-cost alternatives to microfiber clothes. They’re great for dusting bulbs.

2. Wear goggles when dusting or spritzing overhead fixtures to prevent dust or cleaning solution from hurting your eyes.

3. If you’re having trouble removing the bulb in a recessed light, cut a 12-inch strip of duct tape, and fold it over the bulb so that the ends act like handles that are easier to grip than the glass.

Search for your dream home in Albuquerque with our easy to use home search. 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.

Looking for something to do with extra cash? If you own a home in Albuquerque, you could pay off your mortgage. Or you could invest your money in something else. Which option is better?

There's been no shortage of debate on this matter, with great arguments on either side. But in the end, it's a decision that will have a huge impact on your finances.

Which way should you go?

You need to consider these variables:

• Your home’s current market value
• Your mortgage interest rate
• Home appreciation in your area
• Your income tax rate
• Expectations for inflation
• An assumed rate of investment return

A certified financial planner named Justin Goodbread analyzed these variables by sung national averages in order to compare various scenarios between investing and paying off a mortgage.

As it turned out, the math favored investing. But the math isn’t the only thing you should consider. It also depends on your own situation. Goodbread offered two rules of thumb to decide:

You should pay off your mortgage early if you’re a conservative investor, in a low tax bracket with a high mortgage interest rate.

And you should invest if you’re a more aggressive investor, in a high tax bracket with a low, 30-year, fixed mortgage interest rate, and if you’re younger than 50.

What are some reasons to keep your mortgage?

• Maintaining liquidity.  Paying off a mortgage will leave you without a cash cushion in an emergency.
• Your home’s value isn’t affected by a mortgage.  The value of your home will increase over time. But this will not affect how much you owe on your mortgage.
• Mortgage interest is inexpensive. Your mortgage is secured by your home’s value, and this keeps interest rates much cheaper than credit cards and personal loans. Even better, the interest is tax deductible.

Of course, in the end, the choice of investing vs paying off your mortgage is one you should make carefully.

Search for your dream home in Albuquerque with our easy to use home search. 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.

Whether you're moving to or from Albuquerque, it can be a very stressful and exhausting time, even if all goes as planned. And since things rarely go perfectly when you move, that stress can go through the roof. Even though you can't expect everything to go as planned, there are mistakes that can be avoided that will make it worse.

Try to avoid making these following mistakes during your move:

Not Planning

Planning for your move is realy key to avoiding stress. The moment you know you're moving, start planning. The more time to plan, the better. When it comes time to move, then you should be ready for the unexpected. If you fail to plan, this can lead to disaster. Sure, there are times when you have to move suddenly. But in most cases, you should have enough time to plan.

Moving Everything

You don't have to take verything you own to your new home. Most people accumulate items they don't need over time. So take this opportunity to declutter and get rid of extra things you won't need in your new home.

Separate those items into donations, items to sell, items to recycle or dispose of, and items to move. Then when moving day comes, you'll have less to deal with and more room on the moving truck.

Spending Money on Packing Material

If you're trying to save money, there's no good reason to spend a ton of money on packing materials that will only be used once and then disposed of. If you need boxes, check with local stores to see if they have any that haven't been broken down. If you can find newspapers laying around, that makes for great padding. You may still need to buy some materials, but you won't need as much.

Not Making a Moving Survival Kit

If you're moving a long distance, it's a good idea to put together a survival kit with a change of clothes, toilet paper, snacks, medication, water, and other essentials you may need.

Not Keeping Track of Expenses

You can write off your move from your taxes, so make sure you save receipts, bills of lading, and estimates to use on your tax return next year to deduct your moving expenses.

Keep these tips in mind, and hopefully you can relieve some stress during your next move.

Search for your dream home in Albuquerque with our easy to use home search. 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.

When you buy or sell a home in Albuquerque, the home inspection is a critical part of the process. A home inspection benefits all parties involved in the transaction, as it reveals what the condition of the home is and what needs work.

How can you get the most from your home inspection?  Here’s the steps of the process and how you can maximize the results.

Why Have Your Home Inspected?

If you’re selling a home in Albuquerque, the home inspection gives you the opportunity to make needed repairs, and as such, list your home for a higher value. Your home will also sell faster with fewer issues. Most people in Albuquerque want to buy a turn-key home rather than a fixer-upper.

Make sure you do your research when you hire a home inspector. The internet is a powerful way to look at reviews and work history. If you find a home inspector with a good track record, but they cost more, it’s worth it.

During the Home Inspection

Make sure you’re there during the inspection. This way, the inspector can show you the issues in person and explain options for repair. You can also ask questions and take photos. This will also help you learn about what to look for when you buy a home in Albuquerque.

Recheck and Take Notes

After your home is inspected, go back over the issues for a closer look. Whether you’re buying or selling a home, this will help with negotiations. Then you can increase or lower the asking price depending on the repairs needed.

Discuss and Negotiate Repairs

For home sellers, you can either do the repairs before the home is listed and ask for a higher price, or you can skip the repairs and lower the price. It all depends on how much time you have to put into it.

If you’re the buyer, you can ask for an asking price deduction that is equal to the estimated cost of repairs if you’re buying the home as-is. Another option is to suggest that the current owner get repairs done and then you buy it after a re-inspection following the repairs. This would be best for very expensive repairs such as for changing the entire roof or re-plumbing the entire home.

A good home inspection can make the difference between a smooth transaction and a disaster.  Make sure you find the right inspector and be involved in the process.

Search for your dream home in Albuquerque with our easy to use home search. 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.