Real Estate Information Archive

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

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

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

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

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

Have An Awesome Week!

Sandi's Hot Home Listing

12105 Signal Ave NE, Albuquerque

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

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

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Albuquerque is a city of rich history and cultural diversity. Celebrate our community’s past by honoring those whose ancestors have lived in the area for long before we became a nation. Head to the Indian Pueblo Cultural Center (2401 12th Street NW) on Monday, October 10th, for the Indigenous Peoples’ Day Celebration. The event takes place all day from 9:00 am until 5:00 pm. Songs, dances, and stories will be performed by students of the Native American Community Academy (NACA) to honor and share their heritage with all guests of the museum. The students of NACA have worked hard putting together their performances in order to express what it means to them to be indigenous. Learn more about the people that have inhabited this land since ancient times and celebrate the future of this rich community.

Schedule of Events

9:00 am - American Indian Development Associates, Inc. Opening Remarks

10:00 am - NACA Student Presentations

12:00 pm - Bird Dancers (San Felipe)

1:00 pm - Radical Poets Presentation

1:30 pm - NACA Student Presentations

2:30 pm - Sweet Nations Sisterhood Jingle Dress Dancers

3:00 pm - Bird Dancers (San Felipe)

4:00 pm - Pre-Columbian Seeds Dry/Wet Preservation Demos Presented by the IPCC Education Department

This great educational event is open to all. The cost is FREE with the regular $8 museum admission. Be sure to check out all of the Indian Pueblo Cultural Center during the event. This fantastic museum presents the history, art, and culture of the 19 Pueblos in New Mexico.

Bring the family down to the Indigenous Peoples’ Day Celebration for all the fun!

Visit our blog and website frequently for more Tips on fantastic upcoming events!

Featured Home Listing of the Week!

6 Bedrooms/ 5 Bathrooms/ 5135 Square Feet...$1,195,000

ONE OF A KIND PROPERTY! Exquisitely Appointed SINGLE LEVEL MULTIGENRATIONAL Custom Home! Nestled in desired Black Farms Estates, this 1.14 acre EXCLUSIVE dream home offers Elegance, Luxury & stunning Backkyard!   View this incredible listing

Get your Monday Morning Inspiration with Sandi Pressley!

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

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

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

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

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

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

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

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

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

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

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

Have An Awesome Week!

Sandi's Hot Home Listing

12095 Irish Mist Rd NE, Albuquerque

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

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

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

We've been asked recently about the effect Brexit will have on the US housing market. Initial reactions say the stock market responded negatively. This puts pressure on the Fed who might, in turn, keep interest rates low. There might even be a temporary, slight drop in rates as the market adjusts.

The reality is, we won't see much change at all until things settle over in Europe. If other countries in the UK follow suit, this could all change, and quickly. The reality is, now is still a great time to buy or sell a home.

If you're ready to buy or sell, contact The Sandi Pressley Team today!

Have An Awesome Week!

Sandi's Hot Home Listing

1104 Indiana St SE, Albuquerque

Price: $145,000 Beds:3 Baths: 2 Square Feet: 1,236

STYLISH REMODEL! 3BDR/2BATH, so many updates! New windows, new evap cooler, new water heater, new light fixtures, new tile flooring, newly painted, updated baths! Remodeled kitchen includes new cabinets, new tile flooring, new granite countertops, new backsplash, new SS sink, spacious and still room to add a table, island or baker’s rack

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

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

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

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

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

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

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

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

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

Have An Awesome Week!

Sandi's Hot Home Listing

6427 Lagunitas Rd SW, Albuquerque

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

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

The worry that the inspector will find something wrong with your home is something that hangs over every seller, but it doesn’t have to be. Keep in mind what the inspector will be looking for and at and you can make the inspection process much smoother. Most sellers think that all they have to do for an inspection is leave the house. While most Realtors will suggest that the owners leave the house during the inspection, this is far from the only thing the seller can do.

Clear out Closets

Clean out any closets that have attic access scuttles in them, as the inspector will need to get in and out of the attic spaces. Some insulation may fall out during the inspection and while the inspector will try to clean it up after he probably won’t be able to get it all. So remove all the clothes and boxes from the closet to make it easier for the inspector.

Keep the Windows Closed

If your home will be getting a Radon test as part of its inspection leave the windows closed for two or three days before the test is to take place. The Radon detector will be placed in your home and will need to be there for 48-72 hours in order to collect enough information for accurate test results.

Make Sure Your Mechanicals are Accessible

Your inspector will be running tests on the cooling and heating systems, the water heater, the water softener and the electrical service panel, so make sure the inspector has easy access to all these things so they don’t have to climb over or step on any of your things.

Check the Appliances

Check that all the appliances that are staying in the house are plugged in and functioning properly. The inspector will run the dishwasher and check the burners on the oven and stove. They will also run the microwave, ice maker, and any other appliances like the trash compactor.

Check the Garage Door Openers

Make sure the garage door openers are working properly and the safeties are set correctly. The inspector will check to see if breaking the safety beams will make the door stop closing and that pressure on the door that indicates the door has hit someone or something will cause it to stop.

Septic

If your inspector is going to be doing well and septic tests make sure to mark the spot where the tank is or even dig down and uncover the top as the septic inspector will need to open the tank. For the well tests they will be testing the bladder (holding) tank to make sure that it’s not ruptured. They’ll also be taking a water sample which will be sent in for analysis.

Other things a good inspector will be checking are:

The Faucets

All the faucets will be run, the toilets will be flushed and the tubs and sinks will all be filled and drained to test the plumbing for leaks or other various problems.

The Windows

The inspector will be opening and closing all your windows to make sure they all open and close smoothly and properly.

Roof and Basement

Your inspector will be getting onto your roof to check it for any damage. In the basement the inspector will be checking for cracks that indicate excessive foundation settling and any signs of water damage. If there are obvious cracks or water damage you might want to leave an explanation for the inspector and proof for any repairs or water proofing work that has been done on the home.

The Fireplace

The inspector will be checking your chimney for any blockages or problems. If there is an insert for a wood-burning system installed the inspector will check to make sure there aren’t any defects or mistakes with the instillation.

Don’t Hide Things

Remember that your inspector will look behind and under things so make sure you don’t try to cover things up by tucking them in a corner.

Your home inspection doesn’t have to be an anxiety creating event for the buyer or the seller. If you have a good thorough inspector they will explain the state of the home to the buyers as he goes through the house and give them their opinion on the condition of the home. He might also offer the buyers advice on the potential cost of dealing with the issues that may be found in the home. A good inspector can alert the buyer to problems without causing undue alarm to the buyer. Most of the issues an inspector finds during an inspection are minor problems that involve postponed maintenance or improper installation and can be resolved for a few hundred dollars.

Be patient with your Realtor if they ask you to leave for the inspection. There are a few good reasons behind their request. First of all, some homeowners can become overly defensive and argumentative with their inspector if they are following them on their inspection. Secondly, some home owners are overly helpful pointing out flaws that the inspector has already noted or doesn’t even need to note. Lastly some sellers tend to get in the way of the inspector as they work.

So make sure your home is prime condition for the inspection and then let the inspector do their work. You’ll have ample opportunity to defend any problems after the inspector has made their report.

If you’d like to sell your home contact The Sandi Pressley Team today.

Have An Awesome Week!

Sandi's Hot Home Listing

814 Sandoval Lane, Bernalillo

Price: $625,000 Beds: 4 Baths: 2 Square Feet: 2,705

Welcome to this Exceptional One-of-a-kind Custom Built Home by your private oasis along the Rio Grande Riverfront where your living space extends onto a LG covered patio delivering captivating views of the mountains & mature cottonwood trees-Perfect for entertaining or relax while enjoying the serene SW eves.With over 2 acres, this sophisticated single level custom home showcases 4 BDRMS/2 Full baths/oversized 3CG & open concept exquisitely designed w/hi-end finishes.

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

After your home is listed on the MLS (Multiple Listing Service) and the sign is placed in your yard, you might be wondering what comes next. Most sellers think there’s nothing left but to sit back and wait for the offers to come rolling in, but that’s not always what ends up happening. You'll need to draw in some buyers. Here are some tips to get buyers more interested in your home.

First start by looking at your home and finding any repairs you’ll need to make. Is your plan to sell your home as it is or are you going to be put some money into fixing it up? There might be a few surface problems that can be distracting to potential buyers that you can easily fix.

After that you’ll want to pack away anything that might be cluttering up your home. Extra furniture, family portraits, books and any boxes you have stored in your closets. Try to store these things in your garage or even in an offsite storage area. Unnecessary clutter can make a buyer think there's a lack of space, so clearing up the clutter shows the buyer how much room your home actually has.

Make sure that you don’t block any views out of the house with furniture or stacked boxes from your oncoming move. Blocking the views might make buyers think that you’re trying to hide something unpleasant or it may just give them a claustrophobic feeling, neither thing is something you want from a potential buyer. While buyers are usually pretty sympathetic about the mess a move can cause try to keep the mess confined to one room or maybe even half the garage.

Always remember more room and storage space are things that buyers love. Create an open feeling in your home by swapping out or removing any bulky furniture in the house. Large pieces of furniture take up precious square footage in a room and make it look much smaller than it is. Try to find a piece of furniture that fits into the room better, or if you can’t just remove it altogether. The idea is to present your home in the best possible light, adding mirrors to a room can make a room look bigger and can bring more light in.

Make your repairs, pack away any extra clutter and make your home as open as possible and make sure to do a clean-up before any showings or open houses to make sure your home puts its best foot forward.

If you’re ready to put your home on the market contact The Sandi Pressley Team today.

Have An Awesome Week!

Sandi's Hot Home Listing

8619 Vintner Court, Albuquerque

Price: $840,000 Beds: 5 Baths: 5 Square Feet: 4,327

Exquisitely Appointed Custom Home! Nestled on culdesac in North ABQ Acres this custom dream home offers Elegance, Luxury & VIEWS! With over 4300 SF,the open floorplan incl casita; Showcases EVERY UPGRADE you would desire-finest quality craftsmanship,EXQUISITE wood accents.5BD/5BTHS/3 Car Garage.

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

While you might think buyers pick homes by how well the home is staged or the quality of the additions you’ve just made, this isn’t actually the case. While these things will go a long way towards getting a buyer interested in your home, they aren’t the main factors. The main factors that draw buyers to a home are price, location, and condition.

Price

Choosing the right listing price for your home can be tricky, you’ll need to know if your neighborhood is in your in a buyers or seller’s market. A buyer’s market is distinguished by the large inventories of six or more month’s worth of supply. Fewer buyers are making offers and any offers that are being made are low and the buyers will usually ask for more concessions from the sellers. In a seller’s market there is a low supply of six or less months. Buyer traffic gets heavier and sellers are more likely to get multiple offers and close closer to the full price.

Buyer’s agents, buyers and bankers all have access to the same market information that you and your agent have. If your price your home too high potential buyers who would be interested in your home won’t see it at all and if they do end up seeing it it’s unlikely they’ll get their loans approved.

Location

While you can’t do much about the location of your home, you can make sure your home looks its best inside and out. Spruce up your landscaping and put up fencing to block out any unpleasant views that might diminish the value of your home and remember to drop the price for any problems that can’t be solved.

If your home is in a good location, try not to overprice your home. People will expect to pay more for a great location near shopping, restaurants, schools and transportation but if you overprice you’ll drive some buyers away.

Condition

Putting your home onto the market in the best possible condition will help your agent place your home onto the market in the best possible light. While the pet peeves of individual buyers are easy to fix, having your home in good condition as it comes onto the market will keep it in the minds of any potential buyers who come to see it. You wouldn’t want to lose buyer interest because you didn’t mow the lawn or repaint a wall.

Keep in mind that today’s buyers are usually more skeptical about buying a home so problems like outdated wallpaper, creaky steps and dripping faucets will just give buyers an excuse to skip over your home.

Its understandable to be sentimental about a home you’ve lived in for years, but to the buyers your home is something they are looking to buy, like you they just want a good deal on a home they love.

You’ll find out what agents and buyers think of your home pretty quickly. If you get an offer quickly, you know you’ve priced your home right for the location and condition of your home, but if you don’t get an offer within the normal time range for your area, there’s probably something wrong. Take a close look at the condition and price and see if you can adjust them to make your home a little more desirable.

If you’re ready to sell your home contact The Sandi Pressley Team today.

Have An Awesome Week!

Sandi's Hot Home Listing

6905 Tesoro Place, Albuquerque

Price: $399,000 Beds:5 Baths: 3 Square Feet: 2,909

Great neighborhood of Sonora! 5BR/3 FULL BATH/3CG! CUL-DE-SAC! New flooring and newly painted interior! Versatile floor plan with two living areas, formal dining, one bedroom/bath on the main level, spacious kitchen has breakfast nook! Oversized master suite features a two-way fireplace, balcony, walk-closet, separate shower and garden tub.

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

The Albuquerque Real Estate market is continuing heat up as an increase of the local economy and the concern for mortgage interest rates increasing are promoting the market. With the home inventories remaining low and the demand still being high, this creates a great opportunity for anyone looking to sell their home. If you think about selling your home, you might want to start doing some research. Start by looking up the current market value of your home by getting an online evaluation at www.valuemyalbuquerquehome.com.

Bernalillo County saw boosted real estate activity everywhere in the month of April. Pending sales at 557 showed an increase of 56.6% over the 356 offers that were accepted in the April of 2014. This shows the one of strongest April for pending sales in Bernalillo County on record. Closed sales at 382 also outdid April 2014, by about 29.9%, making it the April with the most closings since April 2006 and its 394 closings. There have been 687 new listings which is 15.7% over April 2014 and its 594 new listings, which makes it the highest number since 2010 when there were 691 new listings in April. The inventory in Bernalillo County has dropped to 3.4 months in April and total market time has fallen to 95 days within the same time frame.

Average and median sale prices have gone up higher in 2016 than they were in 2014 as well, with the average sales price of $225,200 rising to $236,900, a 5.2% increase, and the median sales prices have risen 5.6% from $203,100 to $214,500.

If you’re looking to sell your home this year contact The Sandi Pressley Team today.

Have An Awesome Week!

Sandi's Hot Home Listing

4515 Atherton Way, Albuquerque

Price: $899,000 Beds:4 Baths: 3 Square Feet: 4,361

Exceptional Customized Dream Home. Over 150k spent just last year in high end remodeling & resort style backyard! Exquisite custom home in the exclusive gated community of Oxbow North w/sweeping views of the Sandia Mtns. This pristine 4/5 BDR/5 BATH/3 CG home showcases arch accents, pillars, custom lighting, wood & hi-grade tile flooring, 3 NEW Refrig & 3 NEW central heating units. Gourmet Kitchen features granite countertops, prof grade SS appl, custom cabinetry/LG Island.

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Mortgage rates have remained at all-time lows so the home buying market stays strong. Are you one of the many looking to buy a home this year? Here are steps you may take on your journey to home ownership.  

Start with a list – Your wish list should begin with the area you want to live in and basic needs like how many bedrooms and bathrooms you need. You should also consider the type of home you want, condos with shared spaces and minimum owner responsibility, a single-family home offering more privacy and room to spread out or an as-is home that would require some TLC, are all options at this stage of the game.  

Talk with a lender – Once you’ve made a decision about the kind of home you want, it’s time to call a lender. A lender can look at your budget, credit rating and other factors and let you know how much home you can get a loan for, and more importantly, how much home you can afford. A qualified lender can also help you decide what kind of loan program is best for you.

Avoid looking at homes before this important step and you’ll side step some heartache if you don’t qualify in that price range.

Start interviewing Realtors – Now that you know your price range and you have an idea of the type of home you want, you’ll want to partner with a real estate professional to help with your home search. A qualified real estate professional will have access to the MLS which lists most homes for sale in your local area. Look for someone who is an expert in the area you’re shopping and avoid using friends and family unless they meet your standards.

Find your dream home – You will never find a home that offers every single item on your wish list. Unless you build a custom home, this is nearly impossible. Know which items on that list are deal breakers and which ones are flexible. Look at the use of space, the features and amenities that match your lifestyle and don’t look at homes outside your price range.

Getting your offer in – Once you’ve selected your dream home it’s time to make an offer. Your real estate professional should pull comparable homes so you know you’re making an offer that makes sense. They should know whether you’re in a buyer’s or seller’s market as this can affect what kind of offer you make. Make sure your broker knows how to negotiate offers and how to deal with multiple offer situations.

Don’t skip the inspections – Home inspections are your protection against material defects in the home that could end up costing you more after you close the deal. A professional home inspection will reveal any major malfunctions in the home and help you decide what you’ll deal with after closing and what might be a deal breaker before.

Get the home appraised – If you’re getting a loan, an appraisal will be required. This step gives the bank a fair market value of your home. If the appraisal comes in low, it may be difficult to get a loan. If it comes in high, you may have instant equity in your new home.

Head to the closing table – Once you’ve made your list, been pre-approved, selected a home, had an inspection and gotten a good appraisal, it’s time to close the deal. Your title company will gather documents from the mortgage company and some of their own and bring you in to sign everything. All documents will be signed by all parties involved including the buyer and seller. The lender will fund the payoff of the seller and then, once all payments have been made, you’ll receive your keys. It seems like a lot of work to buy a home, and it is! The professional buyer brokers at The Sandi Pressley Team are ready to walk you through the process and help you find your dream home today!

Have An Awesome Week!

Sandi's Hot Home Listing