Real Estate Information

When you get a mortgage to buy a home in Albuquerque, you are taking out a long-term loan. Mortgages are used to finance the purchase of a home. As well as repaying your principal, you make interest payments to your lender. Your house and land serve as collateral for the loan. A mortgage consists of two basic components: principal and interest. The following sections describe what they are and how they impact you as a borrower.

What is a Principal Payment?

As a borrower, you will initially borrow a certain amount of money, which is called the principal. You calculate your principal by subtracting the final selling price of your home from your down payment. Your budget and how much home you can afford are determined largely by your principal. 

As soon as you borrow money, interest begins to accrue. Mortgages are typically paid in monthly installments over a 15- or 30-year period. The outstanding principal on your mortgage refers to how much you still owe.

Interest on a Mortgage

Mortgages don't just require you to pay the principal each month. You also pay interest. A lender charges you interest to let you borrow money. The interest rate is determined by a percentage. The money you pay each month goes toward your principal and interest, and the two are combined into a single payment to your lender.

Does Your Mortgage Principal Change?

With most home loans, your monthly payments don't change despite paying down your principal over time. However, you will end up paying less interest over time. 3% of a smaller remaining principal, for example, is going to cost you less than 3% of your entire principal when your loan is processed. Even though your payments remain the same, you're putting more toward your principal. 

Payment changes could occur on rare occasions. Getting an adjustable-rate mortgage is one example. Home loans come in two varieties. The first is adjustable-rate and the second is fixed-rate. Your interest rate will remain the same throughout the term of your loan if you take out a fixed-rate loan. A variable-rate mortgage has periodic rate changes. If the rate goes up, so do your monthly payments.

After you get enough equity in your home, your lender will cancel your private mortgage insurance, so your payment may change.

Refinancing means replacing your old mortgage with a new one. Therefore, you'll have a new interest rate, monthly payment, and term length on the new one. When you refinance, your principal could change, but it doesn't have to.

Last but not least, you can pay more toward your mortgage than the minimum. You can either make a monthly payment or a lump sum payment. When you make extra payments, you reduce your principal, so you can pay less in interest every month.

When you reduce how much you pay in interest, you get lower monthly payments.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

7509 MCNERNEY Avenue NE, Albuquerque, NM 87110

Wonderful Mossman home in the desirable Uptown area. Beautiful refinished original hardwood floors. Renovated kitchen, with satin finished granite countertops, ample cabinets and island. Two open living spaces, a generous sized dining room, 3 bedrooms. Both bathrooms have been updated. Separate laundry room. Designer Paint colors throughout the home. oversized 2 car garage, room for storage or workshop. Large backyard. Refrigerated Air. Roof replaced in 10/2020. This home is a true Gem.

Learn More!

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.

When homes like this hit the market in Albuquerque, there's no time to waste! These hot listings are prices to sell fast, so make sure you act now to get into the ideal home for your family in Albuquerque.

Feel free to contact Sandi Pressley and her team at 505-263-2173 to get more information and schedule a viewing of these fine homes. You can also check out all of our listings on our Featured Listings page.

515 IRON Avenue SW, Albuquerque, NM 87102

PRIME DOWNTOWN LOCATION READY FOR AN INVESTOR'S TLC....SOLD AS-IS....PRICED TO MOVE. HOME WAS SEPARATED INTO 2 UNITS, BUT COULD EASILY BE MADE BACK INTO ONE. INTERIOR DOOR SEPARATES FRONT UNIT FROM BACK UNIT. ALL OFFERS TO BE REVIEWED SATURDAY AT 5 PM

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545 PINON CREEK Road SE, Albuquerque, NM 87123

Views! Views! Views! Enjoy the views & wildlife all around in this natural setting nestled in the foothills!! Open floor plan with lots of natural light! Two balconies & front porch deck!! New roof in 2021! 3 new patio doors in 2021! 2BDR/2BA/2CG plus approx 1033 sf of unfinished bonus storage area on lower level. Large foyer! Skylights! Living/dining room features raised ceilings, clerestory windows, fireplace & balcony with views! Master suite features a fireplace, dual sink vanity, sep shower & sep tub, & balcony with views! Make your own updates with your style in this light, bright & open townhome! Great location close to foothill trails, shopping, parks, easy access to I-40 to KAFB, Sandia Labs, airport, downtown!

Learn More!

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.

Just becasue the holidays are over doesn't mean the fun times have to be. There's always something going on in Albuquerque! Why not start off the new year with one of these exciting events coming soon.

Albuquerque Comic Con

Fri, Jan 14, 3 PM – Sun, Jan 16, 5 PM
Albuquerque Convention Center
401 2nd St NW, Albuquerque, NM

The Albuquerque Comic Con will be held on January 14-16, 2022, at the Albuquerque Convention Center, located at 402 2nd Street NW in Albuquerque, New Mexico.

Celebrity guests include Michael Pare (Eddie and the Cruisers), Maile Flanagan and Maurice LaMarche (Naruto), Bai Ling (Crank: High Voltage), Alan Ritchson (Titans), Sam Jones III (Smallville), Ellyn Stern (Bleach), Austin St. John and Johnny Yong Bosch (Power Rangers), Rob Paulsen (Teenage Mutant Ninja Turtles), Naomi Grossman (American Horror Story), and several others.

Macbeth

Sun, Mar 20, 3 – 8 PM
Popejoy Hall
203 Cornell Dr, Albuquerque, NM

The Tragedy of Macbeth begins on a deserted, mist-covered moor, as a battle-weary warrior encounters three witches who deliver a chilling prophecy: he will be crowned king. Macbeth immediately gains a new title one step removed from the throne. Armed now with a growing ambition, further fueled by his wife, Macbeth’s lust for a power ultimately consumes him. He and Lady Macbeth succumb to paranoid visions, terrifying phantoms, and fragmenting sanity. Aquila Theatre breathes new life and vigorous dramatic fire into this wickedly famous work.

Hamilton

Thu, Jan 27, 7:30 PM – Sun, Jan 30, 10:30 AM
Popejoy Hall
203 Cornell Dr, Albuquerque, NM

HAMILTON is the story of America then, told by America now. Featuring a score that blends hip-hop, jazz, R&B, and Broadway, HAMILTON has taken the story of American founding father Alexander HAMILTON and created a revolutionary moment in theatre—a musical that has had a profound impact on culture, politics, and education.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

Palm Road NE, Rio Rancho, NM 87144

Sweeping Views of the Sandia Mountains, ready to build your custom home.

Learn More!

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.

You are no doubt going to have a number of showings to potential buyers when you sell your home in Albuquerque. Unfortunately, this can lead to a lack of security for your possessions. It’s not uncommon for thieves to take advantage of home showings and open houses in order to get their hands on valuables.

Here are some tips to keep your home and valuables safe.

Get a few cameras

You can buy a few cheap cameras and install them in plain sight throughout your home. This way, you will be able to identify theft if it does occur. The obvious place to put these is at the front door to the home, as well as in places like the bedroom closet and the home office, where thieves tend to hide. If you don’t have the budget for a security system, you can even place some dummy cameras around the house, which can be bought at many dollar stores.

Remove temptations

Your stuff will be much harder for thieves to steal if they don't have easy access to it. It is a good idea to remove high-value items when strangers are going to be around, even if you cannot get rid of everything of value (TVs can stay). Therefore, jewellery, expensive collectibles, or important documents should not be left lying around. Be sure not to leave bank statements or any other financial information out, and make sure important items like passports and keys are not visible. Don’t hide anything in your top dresser drawer (a go-to spot for thieves).

Watch the medicine

Another important step is to examine medicine cabinets. Thieves have been known to target open houses to find prescription drugs.

Watch the kids

You can’t stop people from bringing their kids to open houses (nor would you want to if you’re in a family area), but that doesn’t mean you have to be thrilled about them traipsing through your house. Children who are unsupervised will probably touch items, especially if toys are accessible. Keeping access to toys or games limited will help, as will putting out a toy or game specifically for the purpose of attracting little hands.

Make sure you’re insured

As a precaution, it's wise to check with your insurance agent to make sure you're covered should something happen during an open house or showing. Working from room to room and taking pictures can help you provide documentation should you need it.

Showing your home to buyers in Albuquerque is a necessary part of the process of selling your home. But with some common sense and preparation, you can make the experience safer for all involved.

HOT ALBUQUERQUE PROPERTY OF THE WEEK!

Palm Road NE, Rio Rancho, NM 87144

Sweeping Views of the Sandia Mountains, ready to build your custom home.

Learn More!

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.

There is no one way to buy a house, and everyone experiences it differently. One element of buying a home in Albuquerque may be challenging for you while another element may be more challenging for another. In general, a lot of people say the following things are the most challenging when buying a house.

Home Price

Since the pandemic, home prices have risen sharply. Even after they've been able to purchase a property, homeowners say the most challenging aspect of the process was the price.

There are major bidding wars going on, particularly for starter homes, as well as for properties in all price ranges. There is a limited number of homes on the market, people are afraid to sell because they aren't sure if they'll find something else to buy, and mortgage rates are at record lows. All of these factors can make it feel impossible to buy a home.

The Paperwork

One of the most challenging parts of buying a home is the paperwork, although how difficult this is depends on your job and financial situation as well as the type of loan you're applying for.

Self-employed people may have a harder time with paperwork and the loan process itself. Just to get started, you'll need to show several years of tax returns and bank statements. During the waiting period before the loan is finalized, you may feel a lot of anxiety. Loans are usually not finalized until just before closing. You have to wait in limbo until the last moment, and you may not have a clear idea of what’s happening with it during this time of uncertainty. 

The Emotions

Before you start the process, you may not realize how emotionally draining buying a home can be. For example, you might fall in love with a house that's way out of your budget and end up overspending. When you work with an experienced realtor like Sandi Pressley, they can help you stay objective so you don't put yourself in a precarious financial situation. 

It’s easy to start to feel overwhelmed and discouraged when you lose out on a house as well.

During the home-buying process, you should learn how to manage your expectations. You have to prioritize the most important things and be ready to walk away if something like a bad inspection happens.

Saving for a Down Payment

One of the biggest hurdles to buying a home is the down payment, which is determined by the cost of the home. When you're already paying rent, it can be incredibly challenging to save for a significant down payment.

Agreeing

If you're buying your first home with your partner, deciding might be the toughest part.

You may have a completely different idea of what the ideal home is than they do. You may fall in love with something that your partner flatly rejects. It can be challenging, but you can void some of these pitfalls by having in-depth discussions about what you both want early on.

A real estate agent can assist you with many other aspects of buying a home; their job is to make things easier on you and provide their expertise to an otherwise stressful process. You can count on Sandi Pressley and her experienced team to make the home buying process as easy and stress-free as possible.

"It is never too late to be what you might have been."

The Sandi Pressley Team would like to wish all of our family, friends, and clients the very best in the coming year. 2022 is a time for new beginnings. Here are a few goals to help you start the new year right.

• Exercise more
• Lose weight
• Get organized
• Learn a new skill or hobby
• Live life to the fullest
• Save more money / spend less money
• Quit smoking
• Spend more time with family and friends
• Travel more
• Read more

Here's to making 2022 the best year ever!

Happy New Year!

It's hard to believe another year has come and gone. But now it's time to welcome the new year 2022 in Albuquerque! Here are some New Year Celebrations in Albuquerque the whole family can enjoy.

New Year's Eve Before Dark

Friday, December 31, 2021 | 10 a.m.-2 p.m.
Albuquerque Museum
2000 Mountain Rd NW, Albuquerque, NM

Celebrate New Year’s Eve with the entire family at Albuquerque Museum! Create a new-year-inspired artwork. Tour the Museum galleries. Free admission.

New Year's Eve Masquerade

Crowne Plaza Albuquerque, an IHG Hotel
1901 University Blvd NE, Albuquerque, NM

The biggest party in town will be the “new year's eve masquerade” at crowne plaza. Celebrate in style with a champagne toast, party favors, balloon drop at midnight, and make memories in the photo booth. Dance all night with music from dj big worm; plus you could win a trip to vegas or thousands in prizes.

New Year’s Eve Before Dark at the Balloon Museum!

Anderson Abruzzo Albuquerque International Balloon Museum
9201 Balloon Museum Dr NE, Albuquerque, NM

Celebrate New Year’s Eve Before Dark at the Balloon Museum - a great venue and opportunity for families to celebrate the New Year at a fun and safe learning environment! Visitors can explore the Balloon Museum; learn about the history, science, sport, and art of ballooning; receive prizes and take fun photos together!

Visitors can participate in a scavenger hunt to get to know the various exhibitions at the Balloon Museum. When completed, visitors can turn in the Scavenger Hunt to receive a prize.

"Noon" Years Eve Party

Fri, Dec 31, 11 AM – 12 PM MST
Erna Fergusson Public Library
3700 San Mateo Blvd NE, Albuquerque, NM

Warmest wishes for a wonderful holiday season and a happy New Year! May peace, love, and prosperity follow you always.

The Sandi Pressley Team wishes you peace, joy, and prosperity throughout the coming year. Thank you for your continued support and partnership.

Happy Holidays!

The holiday season is rounding out for 2021. Its been a very special season for many Albuquerque residents. Let's keep it that way. Will you be traveling over the upcoming holidays? If so, there are some safety steps you should take.

TAKING TO THE HIGHWAY

1. Make sure your car is in good condition for a road trip.
2. Pack an emergency preparedness kit, supplies and a first aid kit in your vehicle.
3. Share travel plans with a family member or friend.
4. Check the weather before departing and along your route. Plan for travel around any storms that may be coming.
5. Be well rested and alert.
6. Buckle up, slow down and don’t drive impaired.
7. Follow the rules of the road and use caution in work zones.
8. Give your full attention to the road. Avoid distractions such as cell phones.
9. Make frequent stops. During long trips, rotate drivers. If you’re too tired to drive, stop and get some rest.
10. If you have car trouble, pull off the road as far as possible.

COVID-19 AND PUBLIC TRANSPORTATION

1. Face masks are mandatory for everyone while using public transportation. This requirement is extended in the U.S. through March 18, 2022. Those who are exempt include children under age 2, someone whose disability prevents them from safely wearing a mask, or someone for whom a mask may create a risk to their workplace safety.
2. Plan ahead. Check the current coronavirus situation at your destination and follow all restrictions in that area. You can find that information here.
3. If traveling by air, check if the airline requires any testing, vaccination or other documents.
4. Don’t travel if you are sick, have been exposed to COVID-19, tested positive for the virus, or are waiting for your test results. More information is available here.
5. If you are traveling internationally, you need to get a COVID-19 viral test no more than 24 hours before you fly into the U.S., whether you are vaccinated and regardless of your citizenship status. Full information from the Centers for Disease Control and Prevention can be found here COVID-19 travel recommendations by destination are available here.

Have a Safe and Happy Holiday Season!

HOT PROPERTY OF THE WEEK!

4100 SKYVIEW CREST Road NW, Albuquerque, NM 87114

Price reflects $248,000 in upgrades in the past 7 months! Seller has invested in upgrading & improving this home with the best of the best. This property is exclusive and exquisite. Upgrades include: New (TPO ROOF) 50 year industrial grade 80mil TPO Carlise Syntec roof system. New (PAID SOLAR) 30 year low profile solar array not visible from ground level provides enough energy to waive off future energy bills -- $4000 to $5000 annual savings. New (SWIM SPA) premier Marque aquatic training vessel for endless swimming with a number of other aquatic fitness features. New (HOT TUB) premier Marque seven seat therapeutic spa. See MLS Features & Updates List for a full list of many more updates. 3 minutes from Intel & easy access to shopping, restaurants, schools, and major thoroughfares.

Learn More!

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.

The holidays are here and many of us will be traveling to be with loved ones to share the joy of the season. While we’re all excited to get packed and be on our way, it is very important to make sure our home and property is secure while we are away. Here are some home safety tips to employ while you’re away to ensure you come back to a safe and sound residence.

Set timers on your lights- timers on indoor lights or programmable switches make it seem like someone is home and normal day to day functions are taking place. You can also utilize smart blubs that can be programmed right from your phone!

Install a security system- this doesn’t necessarily mean a pricey service; many camera systems are available for purchase and can be installed fairly easily and come with monitoring right from your phone. These systems will also send an alert to your phone if something is amiss.

Install motion sensors on outdoor lights- an easy way to scare off an intruder is for a flood light to come on when they enter the yard. Motion sensors on your outdoor lights will do just this and will avoid them even getting close to your home to cause potential damage.

Make sure all windows and doors are locked- this usually goes without saying, but always do a second check of windows and doors before leaving your home to make sure one of the family members haven’t opened a window or door you previously locked.

Stop your Mail- If you will be gone for longer than a day or two, make sure to have the post office stop your mail and hold it until you return.  Mail that builds up in your mailbox is a signal to intruders that your house is open for business.

Social Media Time Out- Even though you are all excited about your trip, resist the urge to post about leaving for your trip, where you are going, photos when you are on the trip, etc.  If you want to share your experiences and memories, wait until you are back home to do so.

Lastly, always let a trusted neighbor know your plans. That way they can keep an eye on your home and know when to expect you home in the event there is an emergency on the road or at home while you are away.

Have a wonderful, safe holiday season!

Be sure to follow us on our Facebook page and check back to our blog frequently for real estate updates and community news.