Real Estate Information

Did you know that Albuquerque is often ranked as one of the best cities in America to have a dog? Given the number of trails, dog parks and hiking spots in the area, it’s no surprise. Not to mention the predictably beautiful weather! If you’re looking for the perfect park to enjoy quality time with the furriest member of your family, look no further!

Off-Leash Dog Parks

There are so many wonderful choices of dog parks in Albuquerque to take advantage. Have you been to them all yet? Whether you and your pup have a go-to or like to switch it up from time to time, here’s a list of the best:

Bud Warren & Lady Dog Park

• Completely fenced in and water is provided

• 10001 Universe NW

Canine Skyline Dog Park

• Completely fenced in, lit up at night and water is provided

• 12700 Montgomery NE

Coronado Dog Park

• Completely fenced in and water is provided

• 301 McKnight NW

Kirtland Dog Park

• Completely fenced in

• 2903 University Blvd SE

Los Altos Park

• Completely fenced in and lit up at night

• 821 Eubank NE

Montessa Park

• Completely fenced in

• 3615 Los Picaros SE

North Domingo Baca

• Completely fenced in, lit up at night and water is provided

• 7520 Corona NE

Ouray Dog Park

• Completely fenced in and water is provided

• 7500 Ouray NW

Rio Grande Triangle Park

• Completely fenced in, lit up at night and water is provided

• 1451 Kit Carson SE

Roosevelt Park

• NOT fenced in and water is provided

• Hours differ: 6:00am – 10:00pm Monday – Friday 4/1 – 9/30 and 7:00am – 11:00am 10/1 – 3/31

• 500 Spruce SE

Santa Fe Village Dog Park

• Completely fenced in, lit up at night and water is provided

• 5700 Bogart NW

Tom Bolack Urban Forest Park

• Completely fenced in and water is provided

• 2000 Dakota NE

Tower Pond Park

• Completely fenced in

• Tower SW and 86^th SW

USS Bullhead Park

• Completely fenced in and lit up at night

• 1606 San Pedro SW

Westgate Dog Park

• Completely fenced in and lit up at night

• Cartagena & Valley View

All parks are open from 6:00am – 10:00pm (unless stated otherwise) and dogs are required to be registered and have tags on them while in the park.

Hiking Trails

There are numerous trails throughout Albuquerque that range in difficulty for you and your favorite pup to utilize. Whether you choose a higher degree of difficulty or more of a leisurely stroll, one thing is certain: the views will not disappoint!

Paso del Bosque

• A Rails-to-Trails sponsored trail that is ideal for walking and running with your dog!

Rinconada Canyon Trail

• A fairly easy 2 ¼-mile hike within the Petroglyph National Monument. An ideal hike for the entire family.

Petroglyph National Monument

• The national park has many trails available for dogs and their owners. Being a national park, make sure your dog doesn’t run into snakes and other wildlife and bring them an ample amount of water!

Sandia Crest Trail No. 130S

• A beginner to intermediate hike along the gorgeous Sandia Mountains. Get to the end and admire the Sandia Crest!

El Morro National Monument

• You will not be disappointed with the sandstone bluff that are an estimated 200 feet.

Highland Park

• A quaint park that has ample picnic opportunities and is ideal for families looking to walk around and enjoy the scenery.

Wheeler Peak via Williams Lake Trail

• This trail is about 8.2-miles and is rated as quite difficult. Located near Taos Ski Valley, dogs and horses are both allowed on the trail.

Williams Lake Trail

• A local favorite. This moderate 4.2-mile trail runs along the lake and is near Toas Ski Valley. It is recommended for use between May and September.

Remember to keep in mind that all parks and trails require dogs to stay on a leash and be picked up after. Enjoy all of the impending adventures that you and your pup are sure to enjoy all year long!

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!

804 ADAMS Place SE, Albuquerque, NM 87108  $399,000

3 Bedrooms / 3 Bathrooms (1 full, 2 half) / 1888 Square Feet

Magnificent Rex Wilson remodel of this amazing Pueblo style home. From the minute you enter you will feel like you are on vacation (feels like a Taos Hacienda), beautiful hardwood floor, custom carved beams, corbels kiva fireplace, leads into a wonderful custom kitchen. Skylights bring in natural light, and Pella windows, hardwood doors updated electrical and an amazing wrap around covered patio embraces beautifully landscaped private oasis. ''And'' a detached casita heating cooled, presently used as a theatre room (projection equipment, screen and couches will stay) and of course a totally remodeled bathroom, and could easily be an in law quarters.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Have you heard of the term "house poor"? If you are house poor, it simply means that you're spending most of your income on things related to your home. This is more than just the mortgage. It includes things like maintenance, utilities, insurance, and taxes. When you’re house poor, you can’t afford many other things, and certainly not big extras like vacations.

When you buy a home in Albuquerque, you need to know what you realistically can afford to keep from being house poor. One of the biggest mistakes home buyers make is being too ambitious and taking on a home that's too expensive, as well as not anticipating other expenses.

Here are some ways to buy a home in Albuquerque that you can reasonably afford and lower your risk of being house poor.

Crunch the Numbers

Before you ever start the actual process of shopping for homes, look at the numbers.

You’ll need to take into account how much your household earns every month. Then, outline all of the housing costs, which include:

• The down payment
• Property taxes
• Homeowner’s insurance
• Utilities and maintenance

Tally up all of the expenses that you currently have to pay every month. Then, look at your discretionary spending and include that as well. Including that discretionary spending is important and sometimes overlooked. It’s those extras that you want to be able to continue to pay for, even when you buy a home.

Follow the 28/36% Rule

Many financial professionals advise that you spend no more than 28% of your gross monthly income on your housing expenses. You should also plan to spend no more than 36% on your total debt, including not just your home loan but your credit cards, car loan, and student loans.

Affordability Considerations

Some of the things that you should think about beyond your income and expenses include:

• How much savings do you have set aside? You want to have a reserve of cash in case something happens, and if your down payment or mortgage costs are going to dip into your savings, that can be a problem.
• How much of a down payment can you afford? The traditional wisdom is that you put 20% down, but there are loans with options to put as little as 3% down. Remember that the lower the down payment, this higher your monthly payments will be.
• Is there a different type of mortgage outside of a traditional bank loan that you might qualify for? For example, FHA loans are backed by the Federal Housing Administration and you may qualify with a lower credit score and down payment compared to a traditional loan.

Take Steps to Get a Competitive Interest Rates

Interest rates are at an all-time low. Even so, try to get the most competitive rates you can. Having a strong credit score will help. Before you buy a home, look at your credit report, and clean it up if necessary. Try to minimize how much debt you have compared to your income.

Err on the Side of Caution

When you start looking at homes, you should always err on the side of caution. Keep your house hunt focused on the lower end of what you can technically afford. If you’re a first-time home buyer in Albuquerque, it can be tempting to want to go all-in with the belief that you’re buying your forever home. Your life can change over the years, and your first home is probably not your forever home.

Focus on finding a starter home for sale in Albuquerque that works for your current needs. You can’t just think about your current income either. Think about what might happen if you lost your job or your partner lost their income. How would that change the equation?

Finally, one option that can help you better stay within your budget is buying a fixer-upper. You can find a great deal, and then you have the option to gradually create the home of your dreams as your budget allows, rather than having to go all-in right away.

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!

804 ADAMS Place SE, Albuquerque, NM 87108  $399,000

3 Bedrooms / 3 Bathrooms (1 full, 2 half) / 1888 Square Feet

Magnificent Rex Wilson remodel of this amazing Pueblo style home. From the minute you enter you will feel like you are on vacation (feels like a Taos Hacienda), beautiful hardwood floor, custom carved beams, corbels kiva fireplace, leads into a wonderful custom kitchen. Skylights bring in natural light, and Pella windows, hardwood doors updated electrical and an amazing wrap around covered patio embraces beautifully landscaped private oasis. ''And'' a detached casita heating cooled, presently used as a theatre room (projection equipment, screen and couches will stay) and of course a totally remodeled bathroom, and could easily be an in law quarters.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

It's hard to believe summer is almost over. But you can still enjoy the last days of summer in Albuquerque with these upcoming events. Enjoy fresh farm produce, live music, or an exciting soccer match with our local team. There's still something for everyone to enjoy in Albuquerque. Here are some of the events you can look forward to this month.

NEW MEXICO UNITED 2020 SEASON

Daily through September 30, 2020
Broadcast Live on ESPN Networks

Every game of the 2020 USL Championship season will air on the ESPN family of networks, with broadcasts on ESPN2, ESPNews, ESPN Deportes and ESPN+ bringing all the excitement of the first league in the United States to return to play in home markets directly to homes across the United States. All New Mexico United matches will also be broadcast live on ESPN 101.7 The TEAM.

RAIL YARDS MARKET EXPRESS

September 6, 2020
Rail Yards Market | 777 1st Street SW, Albuquerque, NM 87102

Pre-order/Drive-thru. You will be able to order from your favorite food and farm vendors online. These local businesses will prepare your orders, with the utmost attention to safety. You'll pick-up your order at the Rail Yards Market. All you have to do is drive up, show your receipt/phone/or name, pop your trunk, and friendly staff will place your order right in your car.

DOWNTOWN GROWERS' MARKET & FARM TO CAR

Recurring weekly on Saturday
Robinson Park | 810 Copper Avenue NW, Corner of Central Avenue and 8th Street , Albuquerque, NM 87102

Market is open at Robinson Park for in person shopping, with many new safety measures in place. Farm to Car is available for pre-order pick-ups at Robinson Park from individual vendors.

2020 NEW MEXICO STATE FAIR

September 14, 2020 - September 20, 2020 | Recurring daily
Location: Virtual

New Mexico State Fair officials announced plans to host the 2020 New Mexico Virtual State Fair. This online event will run September 14 - 20, 2020, and will bring some fair fun into the homes of New Mexicans. The event will include virtual competitions, livestock shows, shopping, live stream performances and more.

8TH ANNUAL ALBUQUERQUE FILM & MUSIC EXPERIENCE: THE VIRTUAL EDITION

September 22, 2020 - September 27, 2020 | Recurring daily

Whether you are a die-hard movie buff, a fan of music, poetry, art, photography, or dance, you are at the center of AFMX’s program with specially selected films and virtual/live events that will touch the human spirit.

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!

11200 WOODMAR Lane NE, Albuquerque, NM 87111  $539,000

5 Bedrooms / 4 Bathrooms (3 full, 1 half) / 3970 Square Feet

TANOAN EAST-CORNER LOT! 5BDR/4BA/3CG featuring an open floor plan & 2 living areas! Beautiful windows abound with lots of natural light! UPDATES include two evap coolers! Two new water heaters! New gas cooktop & disposal! Living room & family room with fireplaces. One bdr/study/office on the main level! Kitchen features a new gas cooktop, an island, a built-in wall oven, tile flooring, a walk-in pantry & spacious breakfast nook. Large secondary bdrs with walk-in closets and one bdr with its own private bath makes a great guest suite! Owner suite features a balcony, fireplace, his & her walk-in closets, dual sink vanity, separate shower and garden tub! Private backyard features a beautiful pond, grass, trees & shrubs and a covered patio for outdoor living! Private gated community of Tanoan!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Homes are selling fast in Albuquerque, and it's all due to one of the hottest real estate markets in recent memory. Many people thought that the pandemic would adversely affect the local Albuquerque real estate market. But the good news is that home sales are booming.

If you’re a regular reader of our blogs, you’ve no doubt noticed a “Featured Hot Property” at the end of every article. These are some of the hottest properties in the Albuquerque real estate market. Here’s a roundup of some of our latest properties currently on the Albuquerque market. Don't let these fine properties pass you by, because they will go fast.

If you have any questions about these fine properties, always feel free to contact Sandi Pressley and her team at 505-263-2173. You can check out all of our listings on our Featured Listings page. Also make sure to see our other Hot Properties on our other blog.

910 NICHOLAS Court, Bernalillo, NM 87004

$550,000

Exquisite Custom Home w/Stunning views, situated in gated community. Grand foyer features majestic circular staircase w/regal iron banister; Open & bright living spaces feature diamond plaster finishes, raised tray ceilings, builtins, custom lighting, Juliet balcony, office w/sep entrance off carport & much more! Enjoy Sandia Mountain views from main living room w/2 way fireplace; Open chef's kitchen w/gorgeous cabinets & granite counters, SS Jenn-Air applns, large pantry, & eat at kitchen island; dining room shares 2 way FP & opens to covered patio. All bedrooms on upper level feature full bathrooms. Master suite w/breathtaking views & spa like en-suite w/dble shower & jetted tub. Enjoy outdoor living from balcony or patio spaces below; tranquil water feature; & blt in grill.

Learn More!

11200 WOODMAR Lane NE, Albuquerque, NM 87111

$539,000

TANOAN EAST-CORNER LOT! 5BDR/4BA/3CG featuring an open floor plan & 2 living areas! Beautiful windows abound with lots of natural light! UPDATES include two evap coolers! Two new water heaters! New gas cooktop & disposal! Living room & family room with fireplaces. One bdr/study/office on the main level! Kitchen features a new gas cooktop, an island, a built-in wall oven, tile flooring, a walk-in pantry & spacious breakfast nook. Large secondary bdrs with walk-in closets and one bdr with its own private bath makes a great guest suite! Owner suite features a balcony, fireplace, his & her walk-in closets, dual sink vanity, separate shower and garden tub! Private backyard features a beautiful pond, grass, trees & shrubs and a covered patio for outdoor living! Private gated community of Tanoan!

Learn More!

804 ADAMS Place SE, Albuquerque, NM 87108

$399,000

Magnificent Rex Wilson remodel of this amazing Pueblo style home. From the minute you enter you will feel like you are on vacation (feels like a Taos Hacienda), beautiful hardwood floor, custom carved beams, corbels kiva fireplace, leads into a wonderful custom kitchen. Skylights bring in natural light, and Pella windows, hardwood doors updated electrical and an amazing wrap around covered patio embraces beautifully landscaped private oasis. ''And'' a detached casita heating cooled, presently used as a theatre room (projection equipment, screen and couches will stay) and of course a totally remodeled bathroom, and could easily be an in law quarters.

Learn More!

5108 WILD PLUM Way NW, Albuquerque, NM 87120

$839,000

Stunning Custom Home in desirable, gated neighborhood! On a quiet cul-de-sac this luxurious home has a fantastic layout perfect for entertaining. Chipped edge Travertine tile downstairs, lighted niches, viga ceilings and tile accents on the walls/ceiling are just few of the features this home has to offer. Kitchen is a chefs dream with granite counters, Wolf gas cooktop, pot filler, warming drawer, 2 dishwashers, 2 sinks and a wine cooler that holds 88 bottles! Master suite has balcony with access from bedroom and private sitting room. Two-way fireplace, bidet, california closets (in all rms), jetted tub and a steamer in the shwr make this a perfect retreat. Theater room with projector, recliner chairs, movie posters and popcorn maker all convey! So much more you have too see to believe.

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.

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!

10032 BRIDGEPOINTE Court NE, Albuquerque, NM 87111  $459,000

3 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2466 Square Feet

Delightful Custom Home in the prestigious gated golf course community of Tanoan! Soaring cathedral ceiling & grand staircase welcome you through the impressive foyer. This immaculate home features clerestory, bow & picture windows invitng the natural light in & raised tray ceilings gracing several rooms thru-out. Cozy fireplace is heart of family room w/custom wainscoting flowing into ample dining room & open kitchen w/island, eat at bar, SS appliances & gorgeous granite counters. Upper level features 3 privately situated bedrooms w/stunning views from their own balconies; Master suite w/spa like en suite with stainglass window, sitting area w/fireplace & balcony to enjoy city & mtn views. Lush backyard w/covered & open patios is a bird watchers dream-w/flagstone & lawn w/brick border.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Get ready to take advantage of these price reductions on a few of our featured homes in Albuquerque.  They may have been on the market for a couple of weeks, but that's only because you haven't looked a them yet. But you better act quick, because these homes will go fast.

If you have any questions about these fine properties, always feel free to contact Sandi Pressley and her team at 505-263-2173. You can check out all of our listings on our Featured Listings page. You can also see our other Hot Properties on our other blog.

1200 STAGECOACH Road SE, Albuquerque, NM 87123

$499,000

Welcome Home to this pristine Four Hills Village beauty with city and mountain views! Natural light fills every room in this very functional floor plan. Featuring both formal and informal living areas. In the enormous family room you will find vaulted ceilings, new carpet, brick fireplace, hearth, built in book shelves and big beautiful windows! You will love the gourmet kitchen boasting granite counters, large island, and SS appliances. Entertaining will be a breeze as there is plenty of room for everyone in this lovely 4 bedroom home!! Many wonderful upgrades, please see list in documents.

Learn More!

400 PENNY Lane, Corrales, NM 87048

$545,000

Spectacular Sandia Mountains & Valley Views from this incredible 4BDR/3BA/3CG Corrales home! Enjoy the picturesque views from the great room, sunny breakfast nook, dining room, master suite & balcony! Open great room features wood ceiling, cozy kiva fireplace. Kitchen features granite countertops, beautiful cabinetry, island, bkfst bar, SS appliances, brick flooring. Study/Office/BDR and full Bath on the main floor. Two secondary bdrs share a Jack N Jill bath. Master suite features a double sided fireplace, East facing covered balcony, jetted tub, dual sink vanity and walk-in closet. Fully fenced property with gate entrance, lush grass, fruit trees, waterfall feature, raised beds, covered patio & balcony with amazing mountain and bosque views!

Learn More!

1016 SARATOGA Drive NE, Rio Rancho, NM 87144

$499,000

Enjoy Grand Views of Sandia Mountains from the Belvedere. Breathtaking setting for this European flair home perched on elevated lot landscaped, w/ grapevines, fruit trees, grass, fountain, a walk path around the property. Courtyard entry, Inviting foyer curved archways, opens to expansive great room w/ Soaring ceilings, Light filled gourmet kitchen, w/center island & gas cooktop, double ovens, ample cabinets and counters, 2 pantries, an breakfast nook that looks onto the outdoor east facing pavilion. Private Owner's suite, features European style WC, jetted bath, separate shower and dual vanities. walk in closet and a bonus/flex room & laundry rm. 3 more spacious bdrms. Zoned radiant heat, entire property is gated, 4 cg/each oversized. circular driveway, backyard access w/ room for RV!

Learn More!

8100 Ronan Court, Albuquerque, NM 87122

$610,000

Gorgeous Former Model Home with Abrazo 'All Inclusive' Upgrades plus Casita/Studio! Featuring fine appointments throughout that include; Home Automation system; raised ceilings w/wood beams; Hardwood flooring; High end Ceramic Tile in wet areas; Gorgeous Carerra quartz counter tops; built in gourmet kitchen w/ white icing Lancaster cabinetry & high end Kitchen-Aide appliances; High speed ethernet thru-out; Navion Tankless Wtr Htr; 95% Efficient Carrier Furnace; Heated & Cooled Garage. Master retreat w/luxurious spa like en suite. Twelve foot sliding doors lead to beautiful low maintenance landscaped backyard w/covered patio & firepit. 300 Sq Ft Casita w/large living/studio area; 3/4 bath; spacious closet. So many upgrades-must see the included feature sheet to appreciate 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.

Accessory dwelling units have been around for a while. You might call them granny flats, in-law units, tiny homes, or carriage houses. These little homes can solve a number of issues, such as making a good retirement home, or if you want your parents to live close to you so you can take care of them. Accessory dwelling units (ADUs) can be located within the primary dwelling such as a basement or attic, be attached to the primary dwelling, or be structurally separate from the primary dwelling. ADUs usually contain a separate kitchen and bathroom. ADUs can be traced back to the early 20th century, when they were a common feature in single-family housing. Many ADUs were created by middle-aged or older persons seeking to take in boarders after their children moved out.

What should you know if you plan to build an ADU in Albuquerque?

Types of ADUs

There are several ways you can build an ADU. They include:

• Detached new construction ADUs, also sometimes called backyard cottages, granny flats, laneway houses, or DADUs.
• Garage conversion ADUs
• ADUs above a garage or workshop, or attached to it.
• Addition ADUs or “bump-out ADUs”:
• Basement conversion ADUs, also commonly called basement apartments, mother-in-law units, in law units, secondary suites, English basements, accessory apartments, and a host of other names.
• Internal ADUs, where part of the primary house besides the basement is converted to an ADU.

Cost

It comes as no surprise that building an ADU is cheaper than building a regular home. But it's still a considerable investment. An ADU that includes a kitchen and bathroom typically start at $80,000 and can quickly move up from there. Depending how elaborate the structure is you can end up spending as much as $150,000 or more.

In addition to the cost of construction, you need to consider permits. Many homeowners may end up building illegal accessory dwellings because they realize how much permits cost. So make sure that you check the permit fees before you build.

Regulations

If you want to build an ADU in Albuquerque or the surrounding area, you should check current local regulations before you build as they are subject to change. In general, in New Mexico most regulations include the following guidelines:

• It must have a room which is at least 70 sq. ft and no less than seven ft in any direction (including the ceiling)
• Each tiny house must have sanitary facilities (toilet, sink, and either a bath or shower)
• The bathroom and kitchen sink have to have both hot and cold water
• The plumbing fixtures must be connected to an approved sewage system
• The whole structure has to sit on a foundation which is considered permanent
• It needs to meet the requirement of the New Mexico Energy Conservation Code
• There are a number of things which must be included, and which need to be regulated, such as:
  • Windows
  • Permanent heating facilities
  • Wall-switch lighting
  • Bathroom windows or exhaust fans
  • Smoke alarms
  • A door (leading to the outside) which must be at least 32 inches wide and 78 inches high

Building an ADU on your property can certainly be a good way to address your family's needs. Just make sure you do your research and are ready to make the investment.

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!

5 BLUE SPRUCE Trail, Jemez Springs, NM 87025  $499,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 2900 Square Feet

Beautiful setting for this home built with Northern Hemlock logs on 2 acres of land among soaring Ponderosa Pines. Enjoy the mountain air from your 8x24' covered front porch looking out to the mountain range. Great rm w/ Wood stove, vaulted ceilings, a 26ft pitch, wood beams. Functional kitchen, stainless appliances, ample counter and cabinet space. 2 bedrooms and a bonus/flex room that could be an office/recreation/fitness on main level. Upstairs offers a loft and a spacious Master suite, huge walk in closet, bath w/jetted tub, separate shower. Viewing deck off Master. From lower level access back yard with SW landscape, privacy fence and hot tub. Also access to a separate entrance for in laws quarters/studio apt. complete with kitchenette and bath. Horses allowed, w/RUN IN stall

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

If you plan to buy your first home in Albuquerque, you're certainly not alone. There's a growing trend this year in home sales across the nation - first-time home buyers. In fact, last month in June, first-time home buyers made up 35% of home sales nationwide.

The National Association of Realtors (NAR) had this to say about the rise in first-time home buyers:

“The share of first-time buyers increased in March through June—right into the heart of the pandemic period and the surge in unemployment—and is now trending higher than the 29% to 32% average in past years since 2012.”

Why are there more new home buyers?

NAR continues to say:

“The major factor is, arguably, low mortgage rates. As of the week ended July 16, the 30-year fixed mortgage rate dropped to 2.98%. With rates so low that are locked in under a 30-year mortgage, the typical mortgage payment, estimated at $1,036, has fallen below the median rent, at $1,045. For potential home buyers who were thinking of purchasing a home anyway before the pandemic outbreak and who are likely to remain employed, the low mortgage rate may be the clincher.”

These record-low mortgage rates are just too enticing for many people who are currently renting, especially since monthly mortgage payments can be cheaper than renting. According to the Q2 2020 Housing Trends Report from the National Association of Homebuilders (NAHB):

“Eighty-four percent of Gen Z’s planning to buy a home are first timers, compared to 68% of Millennials, 52% of Gen X’s, and 21% of Boomers. Looking at results by region shows that over 60% of prospective buyers in the South are buying a home for the first time.”

The issue for most first-time home buyers is that they don't understand the home buying process. NeighborWorks America had this to say about this challenge:

“Homeownership is a particular challenge for many, despite high levels of interest. Americans believe there are many benefits to homeownership and half of non-owners will seek information about the process in the next few years…a large share of non-owners say the process is too challenging and only a minority know where to find advice if they wanted it. And although many would seek the guidance of community and non-profit programs, only one in three non-owners are aware of such services.”

If you plan to buy your first home in Albuquerque, you don't have to worry about having the help you need to buy the perfect home for your needs. The Sandi Pressley team is here to help. We've been helping people buy homes in Albuquerque and the surrounding communities for decades. In fact, Sandi has been rated the #1 Top Producing Realtor for 34 consecutive years. You can count on Sandi Pressley and her team to help you understand the home buying process. Contact us today to start your journey to owning your first home in Albuquerque!

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!

1393 TIFFANY Lane SE, Rio Rancho, NM 87124  $300,000

3 Bedrooms / 2 Bathrooms (2 full, 0 half) / 1846 Square Feet

TRINITY ESTATES! Open floor plan with lots of living space featuring wood ceilings, vigas, nichos, Kiva fireplace, skylights, REFRIGERATED AIR! Kitchen features beautiful cabinetry, granite countertops, island, recessed lighting, gas cooktop, double oven, walk-in pantry, breakfast bar & bkfst nook with a bay of windows! Master suite features double doors, sep shower, jetted tub, his & her vanities and two closets! Secondary bdrs and full bath on its own wing! Private backyard, beautifully landscaped with turf, shrubs, flowers and trees, covered patio and walled for privacy. Garage has separate, enclosed room for easy storage. Close to shopping, restaurants, parks and easy access to Albuquerque!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team