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Find the Perfect Gift at These Albuquerque Holiday Gift Fairs

by Sandi Pressley

This is the year the find truly unique and thoughtful gifts for your loved ones this holiday season. And what better place to find those perfect gifts than at Albuquerque's holiday markets. There are a number of outstanding markets this year offering every kind of handmade and custom gifts imaginable. And it's a greta way to support local Albuquerque artists. Here are a few to check out.

Holiday Market at the Rail Yards

Dec 11th-12th, 2021 10a-4p
777 1st Street SW, Albuquerque, New Mexico 87102

The event brings food, art, and music together for the Holidays. Sample New Mexico's finest cuisine, peruse all the local gifts, and give back to your community at our Donation Station.

Holiday Craft Fair

Sat Nov 13 2021 | 08:00 am to 12:00 pm
11800 Princess Jeanne Ave NE, Albuquerque, NM 87112

No Admission. Come for one of a kind gifts for your holiday gifts this season.
The PAPA student council is hosting this craft fair. Fair Booth cost is $35 email [email protected] for an application.

Seasons Greetings A Holiday Market

Sun Nov 14 2021 | 09:00 am to 3:00 pm
9577 Osuna Rd NE, Albuquerque, NM 87111

40+ local vendors, food trucks, car show, and raffles! All ages welcome.

Sandia Band Craft Fair

Sat Nov 20 2021 | 08:00 am to 3:00 pm
Sandia High School, 7801 Candelaria Road Northeast, Albuquerque

It’s time for the OUTDOOR Sandia Band Craft Fair-a 25-year tradition with hundreds of vendors. Unique gifts, treats for yourself.

Craft Fair

Sat Nov 20 2021 | 08:00 am to 2:00 pm
6600 Zuni Rd SE, Albuquerque, NM 87108

Troop 7080 is hosting a Craft Fair at the Shrine Center to help raise money for their Trip to Europe. If you are interested in participating in the fair, tables can be purchased for $20 for Girl Scout Members or $25 for Non-Girl Scout Members.

April's Arts and Craft Fair

Sat Nov 20 2021 | 08:00 am to 4:00 pm
Hampton Inn & Suites - Albuquerque, Coors Road, 6150 Iliff Rd NW, Albuquerque, NM 87121

Support Local Artists and Crafters, and get some Christmas gifts for your friends and family!

HOT PROPERTY OF THE WEEK!

6424 PRAIRIE Road NE, Albuquerque, NM 87109

Welcome to this well maintained 2 bd | 2 ba Townhouse in the sought after NE Heights. Master bedroom has his/hers separate bathrooms and walk-in closets. NEW CARPETS, FRESH PAINT (10/2021), NEW WATER HEATER (2021), NEW A/C (REF AIR), NEW HEATER (6/2021), NEW TPO ROOF (2016), NEW SKYLIGHTS (2020). The Murphy bed in 2nd bedroom makes space for a great office. Home also has a detached hobby room. Low-maintenance, private backyard with access to a roof deck! Schedule a showing today!

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.

Get your Morning Inspiration with the Sandi Pressley Team

Making Your Albuquerque Home Appeal to Remote Workers

by Sandi Pressley

More and more Albuquerque home buyers are working remotely, which has changed what they want in a home. Businesses are choosing to delay reopenings or go remote full-time, and buyers are looking for homes with more space to accommodate their work needs.

It is assured that you will find a buyer for the extra room you have in your home if you no longer need it.

Working Remotely is Here to Stay

There are still many Americans who work remotely. According to a recent Garter, Inc. poll, many organizations haven't yet returned to their offices: “. . . 66% of organizations are delaying reopening their offices due to new COVID-19 variants.”

Remote working is not just a trend among companies - workers are also seeking more flexibility. A study by PricewaterhouseCoopers found that nearly one in five employees would prefer to work remotely in the future. Many people are leaving jobs to pursue remote work opportunities, according to the study: “Among employees looking for new jobs, almost one in ten say it’s because they moved away from the office while working remotely and don’t want to go back on-site.”

More Remote Work Means a Greater Need for Home Offices

Today's buyers prioritize finding homes with more space so they can work from home comfortably. According to the American Institute of Architects survey of 2021, 69% of respondents still wish to have an office at home. The study also shows that more people are looking for multiple spaces in their home to conduct remote work and virtual meetings.

How Does This Affect You?

In case you have extra space in your house and are no longer using it, buyers are interested, so now may be a good time to sell.

Sandi Pressley and her expert team will help make sure your listing highlights many of the most sought-after features, such as a home office. However, if you have an unused room, consider staging it as a location where remote work can be accomplished. You can enlist the help of your agent to evaluate and prepare your space for potential buyers, as well. You'll get recommendations for how to stage a room, where to draw attention, and what other sellers are doing to make their houses stand out.

Due to the continued rise of remote work, more buyers are looking for homes that can accommodate multiple home offices. If you have extra room you’re no longer using, consider selling. Discuss the unique features of your home with us and how you can utilize any extra space to appeal to today's buyers.

HOT PROPERTY OF THE WEEK!

6424 PRAIRIE Road NE, Albuquerque, NM 87109

Welcome to this well maintained 2 bd | 2 ba Townhouse in the sought after NE Heights. Master bedroom has his/hers separate bathrooms and walk-in closets. NEW CARPETS, FRESH PAINT (10/2021), NEW WATER HEATER (2021), NEW A/C (REF AIR), NEW HEATER (6/2021), NEW TPO ROOF (2016), NEW SKYLIGHTS (2020). The Murphy bed in 2nd bedroom makes space for a great office. Home also has a detached hobby room. Low-maintenance, private backyard with access to a roof deck! Schedule a showing today!

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.

Get your Morning Inspiration with the Sandi Pressley Team

Have a Safe and Happy Halloween in Albuquerque!

by Sandi Pressley

It's time to put on your scary face and have some good old fashioned Halloween fun this weekend in Albuquerque!

Here are a few tips to keep your family safe:

  • Keep activities outdoor
  • Adults who are supervising the children should be vaccinated and also wear masks
  • All children should wear a cloth mask (or appropriate mask; costume related masks are not recommended)
  • Do not wear a costume mask over the cloth/surgical mask
  • Have a small group go trick or treating together, for example the families you had your quarantine 'bubble' with
  • Carry hand sanitizer and use it often

If you're looking for some ways to make your Halloween unique, here are some events planned for the weekend in the Albuquerque area.

Dragons House of Horror

Oct 1 – Nov 5
405 Central Ave NW

Food , Entertainment and Fun For The Whole Family! Currently the record holder for the longest haunted house in the world, certified by Guinness World Records. 

McCall’s Haunted Farm

Every Friday & Saturday in October
2 McCall Lane, Moriarty

The McCall's old cattle barn and meat processing facility have been closed for years.... however, the rumor is that neighbors have seen activity around the barn late into the night and have heard strange sounds coming from animal, human???

Pumpkin Swim

Oct 29
Rio Grande Indoor Pool

Costume contest, face painting, music, pumpkins, games, and a haunted house. What more could a kid at Halloween ask for?

Boo at the Zoo

Oct 30
ABQ BioParkZoo

Boo at the Zoo is back and ready to lift your spirits! We welcome you back to eat, drink, and be scary as we turn our menagerie macabre for one day only! There will be costumes and candy, family and friends, and tricks and treats!

Have a Safe and Happy Halloween!

HOT PROPERTY OF THE WEEK!

7804 AVENIDA VISTA VENTANA NW, Albuquerque, NM 87114

Welcome home to this GEM in Ventana Ranch! Meticulously cared for, this 4 Bedroom + Office stunner is full of upgrades. Enjoy the oversized corner lot while swimming in your NEW heated, gunite pool with automatic cover. This home also boasts 2 living areas, gas fireplace, open kitchen with SS gas appliances, one downstairs bedroom, a large office/gym, plus 3 FULL bathrooms. With 3 additional bedrooms upstairs, this home is move-in ready. Close to trail access, and convenient to grocery stores, schools and more, enjoy the Ventana Ranch lifestyle today!

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.

Get your Morning Inspiration with the Sandi Pressley Team

Should You Renovate or Buy a Home in Albuquerque?

by Sandi Pressley

In the last 18 months, buyers' preferences have changed. An AIA survey of home design trends was recently released for Q3 2021 by the American Institute of Architects. It found that:

  • 70% of respondents want more outdoor living space
  • 69% of respondents want a home office (48% wanted multiple offices)
  • 46% of respondents want a multi-function room/flexible space
  • 42% of respondents want an au pair/in-law suite
  • 39% of respondents want an exercise room/yoga space

Albuquerque homeowners who wish to add any of the above options have two options: renovate their existing homes or purchase a home that already contains those features. You may be influenced by factors such as:

  • Possibility of relocating
  • The cost difference between renovating and buying
  • Find an existing house or design a new one that has exactly what you want (rather than trying to rearrange your current house)

Regardless of the outcome, you'll need access to capital: either for the renovation or the down payment on your next home. You probably have the money you need in the form of equity in your home already.

Home Equity Is Skyrocketing

Over the last two years, home prices have risen at a record pace, improving homeowners' equity dramatically. Odeta Kushi, Deputy Chief Economist at First American, quantifies the amount of equity homeowners gained recently:

“Remember U.S. households own nearly $35 trillion in owner-occupied real estate, just over $11 trillion in debt, and the remaining ~$24 trillion in equity. In inflation adjusted terms, homeowners in Q2 had an average of $280,000 in equity- a historic high.”

If you own a home, you may have the funds to purchase the perfect home or renovate your current home. However, if you wait to decide, the cost of tapping that equity may increase.

Renovations will require you to refinance (or take out a home equity loan) to access the equity. In the event that you decide to move instead and use your equity as a down payment, you will still need a mortgage to cover the difference between the down payment and the price of your next home.

Over the next year, mortgage rates are expected to increase. You will probably pay more if you wait to leverage your equity. Most current mortgage borrowers have a rate of less than 4%, according to the latest Federal Housing Finance Agency (FHFA) data. By taking action now, you can keep your mortgage rate below 4% if you're one of those homeowners. If you're among the 43 percent of homeowners with a mortgage rate over 4%, you may be able to refinance for a cash-out or buy a more expensive home without significantly increasing your monthly payment.

Calculate your home's equity

To determine how much equity you have in your current home, or to find a constructed or existing home that has everything you need, you first need to determine how much equity you have in your current home. You will need two things for that:

  • The current mortgage balance on your home
  • The current value of your home

If you have a monthly mortgage statement, you should be able to find your mortgage balance there. You can get an appraisal for several hundred dollars, or you can get an equity appraisal for free from a professional local real estate agent.

If the past 18 months have refocused your thoughts on what you want from your house, now may be the time to either renovate or make a move to the perfect home. Contact the Sandi Pressley team to help you decide what the best way to move forward if you decide to buy a home in Albuquerque.

HOT PROPERTY OF THE WEEK!

508 ORTEGA Road NW, Los Ranchos, NM 87114

Plenty of room for your HORSES & HORSE POWER! Gorgeous approx 1.26 acre NV Village of Los Ranchos Horse Property. One of a kind, rare opportunity to own private gated valuable Sub-dividable lot. 4BD/3.5 BA renovated 2015 w/hardwood oak floors, 2015 roof, HVAC, HWH, windows, insulation, refrigerated air/heat throughout home. 1000sf grand sunroom w/ tile setting the stage for peace & relaxation. Recessed Lighting & Skylights! New SS appl! This home shines like a diamond! Not incl in TSF Finished 1979sqft heated/cooled 6 Car Tandem Garage/Shop w/220! The possibilities are truly endless.1100sf Horse barn, plus storage, 2 patios, circular drive w/50+ trees & fenced lawn.1 mile to Alameda Open Space, trails & Rio Grande River, & 15 mins to Airport. Perfect for entertaining. RV parking/NO HOA!

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.

Get your Morning Inspiration with the Sandi Pressley Team

New to Site Today! Check Out Our Latest Albuquerque Homes for Sale

by Sandi Pressley

When homes like this hit the market in Albuquerque, there's no time to waste! Whether you're looking for the perfect entry level home, or want to step up to a more luxurious setting, these fine homes are definitely worth a look!

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.

8007 Tuscarora Road NW, Albuquerque, NM 87114

Freshly updated Pulte home in the sought after community of Ventana Ranch. Luxury vinyl flooring throughout(no carpet) Ceiling fans and recessed lighting have all been replaced. Newer Refrigerated Air and Furnace(approx 2 years young). Functional kitchen with ample cabinets and countertops. Stainless appliances all convey. Open floor plan. Spacious Primary bedroom, dual vanities, walk in closet. 2 more good sized bedrooms. SW landscape, front and back with drip system.Close to parks, amenities & schools (Volcano Vista school district). Dont miss this GEM.

Learn More!


14412 OAKWOOD Place NE, Albuquerque, NM 87123

A gem nestled in the Foothills! Built in 2000, this 4-Bedroom custom home comes with all the bells & whistles. At 4,665sqft, this home boasts incredible living space made for entertaining. Open kitchen is a chef's delight w/ great new appliances, 5-burner Gas Range, gorgeous granite, large pantry and tons of seating. Spread out w/ the lower level entertaining area, or go outside on any of the multiple balconies, or through the huge backyard with hot tub and so many great views. This smart home features lights that turn on automatically as you enter the room & is wired with surround sound. The Master Suite showcases a luxurious bathroom complete with jetted tub, oversized shower, & custom California Closet. With a water softener, humidifier, and laundry chute, this home truly has it all.

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.

Get your Morning Inspiration with the Sandi Pressley Team

You Don't Need Perfect Credit to Refi Your Albuquerque Home

by Sandi Pressley

Mortgage rates under 3% are certainly appealing. But can you actually get one? The best rates might not be available to you if you don't have excellent credit. Still, you may be able to refinance your Albuquerque house if you qualify.

Minimum credit score

You will have more refinance options if your score is above 700. Although, contrary to popular belief, you can still qualify with a lower credit score.

“Credit requirements vary by lender and type of mortgage. In general, you'll need a credit score of 620 or higher for a conventional mortgage refinance,” said Experian. “Certain government programs require a credit score of 580, however, or have no minimum at all. As is true for other types of loans, the higher your credit score, the more likely a mortgage refinance lender will be to work with you. Not only are your chances of approval higher, but you'll typically receive a lower interest rate and more favorable loan terms than qualifying borrowers with lower scores.”

Going with a higher rate

In the long run, any rate drop will save you money, even if you are not eligible for the lowest rate. A .25 reduction in your mortgage rate will save you almost $100 a month. The savings will, of course, need to be weighed against your refi costs and the time it will take to recover those costs.

Buying down your rate

If you don’t qualify for the lowest rate and you want to go lower, you can buy down the rate. “Mortgage points are one way for homeowners to lower their interest rate,” said Bankrate. “When you pay for points on a mortgage, you are actually paying interest right now for the loan. In return, the homeowner can lock in a lower and discounted rate. The rate depends on how many points are purchased. Your mortgage rate will drop more if you purchase more points.”

One point is the same as a .25% discount in the mortgage rate, which will cost you 1% of the total mortgage amount. To lower your mortgage rate by a quarter point would cost you $3,000 on a $300,000 mortgage. “Homeowners can buy more than one point, depending on their financial situation.”

HOT PROPERTY OF THE WEEK!

508 ORTEGA Road NW, Los Ranchos, NM 87114

Plenty of room for your HORSES & HORSE POWER! Gorgeous approx 1.26 acre NV Village of Los Ranchos Horse Property. One of a kind, rare opportunity to own private gated valuable Sub-dividable lot. 4BD/3.5 BA renovated 2015 w/hardwood oak floors, 2015 roof, HVAC, HWH, windows, insulation, refrigerated air/heat throughout home. 1000sf grand sunroom w/ tile setting the stage for peace & relaxation. Recessed Lighting & Skylights! New SS appl! This home shines like a diamond! Not incl in TSF Finished 1979sqft heated/cooled 6 Car Tandem Garage/Shop w/220! The possibilities are truly endless.1100sf Horse barn, plus storage, 2 patios, circular drive w/50+ trees & fenced lawn.1 mile to Alameda Open Space, trails & Rio Grande River, & 15 mins to Airport. Perfect for entertaining. RV parking/NO HOA!

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.

Get your Morning Inspiration with the Sandi Pressley Team

What Is Involved With Buying an Albuquerque Home With All Cash

by Sandi Pressley

You've likely heard a lot about all-cash offers if you've ever watched a real estate show, especially one that focuses on the luxury market. All-cash offers are becoming increasingly popular because there are few properties on the Albuquerque real estate market, and bidding wars are rampant.

What that means may confuse you.

An all-cash offer contains a secret that you may not know about - you can still get a mortgage.

Cash Offers: The Basics

All-cash offers mean that a buyer will pay for the home in full at closing. Consequently, the buyer can show they are able to perform the transaction based on their bank account. There are fewer chances for something to go wrong along the way with a cash offer, which makes it appealing to a seller.

The risk of selling to someone who plans to get a mortgage is greater. From the seller's viewpoint, the less financing a deal requires, the better.

A prospective buyer who is not financing their home will use a cashier's check or electronic transfer.

As cash purchases do not involve a lender, the closing time is usually shorter. The process can usually be completed in two weeks. Within those two weeks, any liens can be cleared, paperwork can be prepared and insurance can be procured.

An average closing time for a mortgage-financed purchase is 30 days. However, the timeline may vary from 45 to 60 days from signing to closing date.

How to Buy a Home With Cash

In the process of buying a house all-cash, the following steps usually occur:

Upon accepting the buyer's offer, a Purchase and Sale Agreement is then drafted. This is called going under contract.

Afterwards, funds must be verified. In the case of a seller, it's vital that the buyer actually has the cash they claim. One to two percent of the sales price is usually required as earnest money. A bank statement or investment statement may be required as proof of funds. Your real estate agent can assist you with this.

Title companies check for liens and arrange title insurance. A title company ensures the transfer of ownership occurs correctly on closing day. In addition, an escrow company handles the transfer of funds and closing documents. Escrow companies also handle legal paperwork.

Depending on what the buyer finds during the inspection, the buyer may have the option to renegotiate a lower sale price or request repairs.

The closing documents must then be reviewed and signed. The amount of paperwork you'll encounter is considerable even when the transaction is all-cash.

Are You Still Competitive With a Mortgage?

It is true that buyers prefer cash buyers, especially right now in a seller's market. You can still be considered all-cash with a loan.

A decision-now approval is offered by some lenders. Although it's not cash, the benefits may be similar for a seller because of the preapproval. Therefore, the loan will already be funded, and the lender can verify the remaining amount of the sales price.

The buyer can then remove financing contingencies from their offer without worrying about losing their earnest money since they've already secured a mortgage.

It's possible to become a strong buyer by doing something like this, depending on the lender's offer.

Finally, you may want to shop around if you're considering this approach because not all lenders offer upfront underwriting.

HOT PROPERTY OF THE WEEK!

508 ORTEGA Road NW, Los Ranchos, NM 87114

Plenty of room for your HORSES & HORSE POWER! Gorgeous approx 1.26 acre NV Village of Los Ranchos Horse Property. One of a kind, rare opportunity to own private gated valuable Sub-dividable lot. 4BD/3.5 BA renovated 2015 w/hardwood oak floors, 2015 roof, HVAC, HWH, windows, insulation, refrigerated air/heat throughout home. 1000sf grand sunroom w/ tile setting the stage for peace & relaxation. Recessed Lighting & Skylights! New SS appl! This home shines like a diamond! Not incl in TSF Finished 1979sqft heated/cooled 6 Car Tandem Garage/Shop w/220! The possibilities are truly endless.1100sf Horse barn, plus storage, 2 patios, circular drive w/50+ trees & fenced lawn.1 mile to Alameda Open Space, trails & Rio Grande River, & 15 mins to Airport. Perfect for entertaining. RV parking/NO HOA!

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.

Get your Morning Inspiration with the Sandi Pressley Team

Expand Your Living Space With These Spacious Albuquerque Homes

by Sandi Pressley

Whether you're looking to make more room for your expanding family (including your horses), or want to upgrade your lifestyle, these stunning homes will offer all that and so much more. And you can't beat the the amazing location and stunning views these homes offer. Don't wait to shedule your exclusive viewing!

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.

218 SKYLAND Boulevard, Tijeras, NM 87059

This wonderful home boasts, Newer windows, newer carpet, newer tile! Newer stainless steel appliances. (Wash & Dryer, Refrigerator all convey as is) Newer water heater, new septic system 2018, newer blinds throughout, Newer metal roof, newer energy efficient heater! Out-Buildings for horses, goats chickens. Home has an attached mother in law suite (built in 2004) w/2 bedrooms, kitchenette, and huge family room, could be Air BNB, office, the possibilities are endless! radiant heat (in in law quarters), 3/4 bath w/handicap access) complete with own entrance, private patio area. Beautiful vigas, tongue and groove ceiling, oversized garage w/workshop area, and so much more! only 10 miles once exit off Cedar Crest exit!

Learn More!


508 ORTEGA Road NW, Los Ranchos, NM 87114

Plenty of room for your HORSES & HORSE POWER! Gorgeous approx 1.26 acre NV Village of Los Ranchos Horse Property. One of a kind, rare opportunity to own private gated valuable Sub-dividable lot. 4BD/3.5 BA renovated 2015 w/hardwood oak floors, 2015 roof, HVAC, HWH, windows, insulation, refrigerated air/heat throughout home. 1000sf grand sunroom w/ tile setting the stage for peace & relaxation. Recessed Lighting & Skylights! New SS appl! This home shines like a diamond! Not incl in TSF Finished 1979sqft heated/cooled 6 Car Tandem Garage/Shop w/220! The possibilities are truly endless.1100sf Horse barn, plus storage, 2 patios, circular drive w/50+ trees & fenced lawn.1 mile to Alameda Open Space, trails & Rio Grande River, & 15 mins to Airport. Perfect for entertaining. RV parking/NO HOA!

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.

Get your Morning Inspiration with the Sandi Pressley Team

What If Mortgage Rates Fall During Your Lock Period?

by Sandi Pressley

Buying a home in Albuquerque is a great opportunity at the moment, with mortgage rates lowest in several years. In addition to lower monthly payments, a lower interest rate also means that more people can qualify to buy a home. When you apply for a loan, the current interest rate is locked into your loan. But what happens if the rate falls further once it is locked in? What are the chances of getting the lower rate?

Lenders take rate locks seriously. You are reserving a rate when you lock it in with your lender. If rates rise before your closing date, you are protected. Most lock periods are between 15 - 30 days in length. It is crucial that the lock period last as long as the duration of your transaction. 

The lock protects you in case the rate increases. But what if the rate decreases during that time? Would you be able to get the lower rate?

Even if rates fall just a little, such as by less than 0.125%, it won't make much difference to change the rate in your agreement, nor will your lender be very motivated to make the change. Your lender might agree to lower your rate if it decreases by more than 0.25%. 

Changing lenders to get a lower rate is not a problem in advance of the closing date. This will allow you to have a lower rate. However, you also have to submit all your documents all over again to a new lender, including paystubs, tax returns, and bank statements. 

Your lender should consider lowering your agreed rate if rates fall by more than 0.25%. For a lender, it's better to do so than lose your business. Since both of you have worked hard to make the deal work, it benefits both of you.

Also, don't expect to get the absolute lowest rate when you make the request. There may also be a small fee to make the change. In the end, do the math and decide if requesting a lower rate works out for the best. It never hurts to ask!

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

 

HOT HOME LISTING OF THE WEEK!

10 PEARL GUEST Court, Edgewood, NM 87015   $355,000

3 Bedrooms / 2 Bathrooms (0 full, 2 half) / 1781 Square Feet

WELCOME HOME! This gorgeous one-story home is light and bright - it is spacious with two living areas, a stainless kitchen and breakfast nook. Home beams of natural light as you walk in. Tongue and groove with vigas makes it a beautiful entry. Home sits on 2.76 acres with beautiful sunrises and sunsets. Only 20 minutes to Albuquerque!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Make Sure to Put These Fun Albuquerque Events on Your Calendar

by Sandi Pressley

2021 Balloon Fiesta Live!

Oct 2 – 9
Balloon Fiesta Park
Albuquerque, NM

Balloon Fiesta is held in October due to the wind conditions known as the ‘Albuquerque Box’, which can take the balloons on a tour of the river valley, the surrounding mountains and bring them back to the 80-acre launch area in the even bigger Albuquerque Balloon Fiesta Park.

The calendar includes a dawn patrol, when the crews lift off in the dark and come into view with the early sun; laser and firework shows; flight competitions; musical entertainment and the dramatic mass ascension when almost 600 balloons are launched over two hours. Though it is not cheap, event-approved rides can be organised. More than 860,000 people and 670 pilots are expected to attend the nine-day show.

Harvest Festival

Sat, Oct 2, 10 AM – Sun, Oct 3, 4 PM 
ABQ BioPark
903 10th St SW, Albuquerque, NM

The ABQ BioPark is excited to host the Harvest Festival for two fun-filled days at the Botanic Garden in October. Explore a variety of landscapes throughout the Garden, listen to live music, enjoy festival treats and local brews, and celebrate the beauty of the season.

Disney On Ice presents Let's Celebrate

Sat, Oct 9, 3 – 7 PM
Rio Rancho Events Center
3001 Civic Center Cir NE, Rio Rancho, NM

The celebration of the century comes alive in Disney On Ice presents Let’s Celebrate! This monumental ice-skating spectacular skates into Albuquerque this Fall playing Rio Rancho Events Center for six fun-filled performances from October 8–10, 2021. After the pandemic pause, this tour will be the first Disney On Ice shows returning to New Mexico in over a year and half!

New Mexico United vs. Rio Grande Valley

Sat, Oct 9, 5 – 10 PM
Isotopes Park
1601 Avenida Cesar Chavez SE, Albuquerque, NM

The New Mexico United 2021 Season is here!

Tickets for regular season matches will be available on a limited basis, dependent upon county, state, and federal COVID-safe protocols, and best practices, and will be released a few matches at a time, to allow United to adjust to the latest COVID-safe protocols as they develop. Those tickets will be available in waves, with each wave capped to provide equitable access for everyone. In addition, tickets will be sold in pods of varying sizes to allow for proper social distancing.

For the most up-to-date ticketing information, please contact New Mexico United directly.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

 

HOT HOME LISTING OF THE WEEK!

10 PEARL GUEST Court, Edgewood, NM 87015   $355,000

3 Bedrooms / 2 Bathrooms (0 full, 2 half) / 1781 Square Feet

WELCOME HOME! This gorgeous one-story home is light and bright - it is spacious with two living areas, a stainless kitchen and breakfast nook. Home beams of natural light as you walk in. Tongue and groove with vigas makes it a beautiful entry. Home sits on 2.76 acres with beautiful sunrises and sunsets. Only 20 minutes to Albuquerque!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

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

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