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Save On Power During Winter

by Sandi Pressley

Winter is an expensive season, and not just because of the holidays. During the winter months your energy bill can double, but there are ways to avoid that monthly ding in your account. We have a few tips.

The Sun Is Free

That beautiful bright thing in the sky, during the day, is a free and natural way of warming up your home. During the day, you open any curtains or blinds in windows you have facing south to get as much heat as possible. Then close everything back up once the sun lowers to the horizon to trap that warmth.

Bundle Up!

This is a super easy way to keep warm. You can wear those comfy looking, super warm socks you found on sale over summer, or those nice new house slippers with those comfy insoles. Now it's time to pull out those sweaters you stored away during the warm season, and don't forget those soft throw blankets, they'll add a comfortable layer of warmth as well.

Adjusting the Temperature at Night

By adjusting you thermostat at night to a lower temperature, while your all snuggly tucked in bed, you can keep from losing warm air from your home. Which means less power loss.

Don't Heat That Room! 

If you have a room or two you're not using, like a guest room, don't turn on the heat, or close off the vents to direct the heat flow to the more important areas of the home. If you're only using oil heaters, only use them in rooms you're using. Another thing is to keep the furnace maintained so it stays clean and unblocked. These will help quite a bit in lowering your bill.

With these things in mind, stay warm during winter and keep those annoying bills manageable.

Check back on our blog every week for more real estate advice and local articles about living in Albuquerque. And make sure to follow us on Facebook for up to date real estate news for Albuquerque and surrounding areas.

HOT HOME LISTING OF THE WEEK!

231 Graceland Drive NE, Albuquerque, NM  $214,000

2 Bedrooms / 2 Bathrooms (1 full, 1 partial) / 1530 Square Feet

 Nob Hill Charmer! Great Opportunity!!! Make this one your own or your investment property; whatever the goal-DO NOT MISS this one! Situated on a large corner lot, this gem features both formal and informal living areas; Recently re-finished hardwood floors; Cozy wood burning fireplace; separate dining room or perhaps office/hobby space; plus classic details throughout. Enjoy warm summer evenings under the ample covered patio. Close to shopping, UNM & UNMH, transporation! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Keeping Mold Out of Your Home

by Sandi Pressley

Mold – it's a dirty word no matter how you look at it, at least in the home. Mold can cause significant damage to your home and is certainly not good for your health. Mold can grow anywhere, and getting rid of spores completely is almost impossible. But with a few preventative measures, you can keep mold to a minimum. Here's a few tips to help you keep mold in check.


Find Problem Areas

You can't make a home completely mold proof, but you can make it mold resistant. Go through your home and look for areas that are prone to mold.  Does the basement flood? Are there windows that have condensation? Is there a water stain on the ceiling from a leak? Preventing mold can be  as easy as removing a carpet in the basement, or repairing a damaged gutter.

Keep Things Dry

Moisture is an invitation for mold spores. Things like wet spots on the carpet, clothes or wet laundry in the dryer should be dried as soon as possible. The bathroom is especially a hotbet for mold spores, so make sure you keep the bathroom dry and clean. Turn on the fan or open the window while bathing or showering, and do so until the moisture is gone. Dry around the kitchen sink after washing dishes. Keep areas like the bathroom and laundry room open for ventilation.

Keep Good Airflow In You Home

The air is unable to hold as much moisture as is cools down. Keeping a good airflow in your home will keep that moisture from settling into your walls or windows. Keep doors in the home open to help increase circulation and pull your furniture from the walls a bit. Fresh air never hurts.

Cooking and taking a shower are also activities that can invite moisture. Make sure you use the fan when cooking or taking a shower, or in the laundry room when washing clothes.

Keeping Plants In the Home

Keep an eye on your houseplants. They can attract mold in the soil. Try keeping them in areas that have good airflow and be careful not to water them more than is necessary for each plants needs.

Following these simple suggestions will help keep mold out of your home.

Check back on our blog every week for more real estate advice and local articles about living in Albuquerque. And make sure to follow us on Facebook for up to date real estate news for Albuquerque and surrounding areas.

HOT HOME LISTING OF THE WEEK!

231 Graceland Drive NE, Albuquerque, NM  $214,000

2 Bedrooms / 2 Bathrooms (1 full, 1 partial) / 1530 Square Feet

 Nob Hill Charmer! Great Opportunity!!! Make this one your own or your investment property; whatever the goal-DO NOT MISS this one! Situated on a large corner lot, this gem features both formal and informal living areas; Recently re-finished hardwood floors; Cozy wood burning fireplace; separate dining room or perhaps office/hobby space; plus classic details throughout. Enjoy warm summer evenings under the ample covered patio. Close to shopping, UNM & UNMH, transporation! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

From Rental to Your New Home - The Move Out Checklist

by Sandi Pressley

You did it! After all those years of renting and paying someone else's mortgage, you've purchased your own home at last. Now it's time to get ready to move out of your rental and into your dream home. 

But if you've never moved from a rental before, or if it's been a few years, you may have forgot all the things you need to do in order to properly leave your rental so that you get as much back from your deposit as you can. You'll certainly need that money for your new home, so it's a good idea to cover all of your bases when moving out of your rental.

Here's a checklist of the tasks to prioritize so that you can get back your deposit.

Two Months Before the Move: 

Examine Your Lease

As soon as you decide to move, you need to ask your landlord or leasing company about the move-out guidelines in your lease. Check your copy of the lease and go over specifics about how much notice is needed, cleaning responsibility, and other essential items.

Asses Damage 

Check the areas of your rental to see what needs repair before the final inspection. Go over the list with your landlord to see what items they will fix, and what you are responsible for.

 

One Month Before the Move:

Give written notice.

Write a letter to your landlord or leasing company with the exact date of your move. Make sure to give notice according to their rules or you may lose your deposit

Cancel or Change Your Renter’s Insurance.

Contact your insurance company to advise them of your move date.

Gather Supplies

Get together all the supplies you'll need, such as boxes, tape, and packing materials.

 

Three Weeks Before the Move:

Start Decluttering and Packing.

Start organizing and getting rid of things you won't need to move. Sell them, donate them, or give them to other tenants in your complex.

Tie Up Loose Ends

Make sure you get time off work, check into boarding pets, and changing utilities such as phone and internet, electricity, gas, and water to your new home. That will make sure you're not moving in the dark in your new home.

Want more tips on what to do before your move? Check back on our blog later this week for part 2 of this article.

Check back on our blog every week for more real estate advice and local articles about living in Albuquerque. And make sure to follow us on Facebook for up to date real estate news for Albuquerque and surrounding areas.

HOT HOME LISTING OF THE WEEK!

2536 Sarita Avenue NW, Albuquerque, NM 87104  $169,000

3 Bedrooms / 2 Bathrooms (2 full, 0 partial) / 1232 Square Feet

 Convenient location near Old Town & Rio Grande! Wonderful home with tile roof, refrigerated air, great room with fireplace open to kitchen with breakfast bar & pantry. Nice layout featuring master bedroom separate from the 2 additional bedrooms, great covered patio & attached 2 car garage. All appliances stay! Don't miss this turn key property!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Improve Your Curb Appeal

by Sandi Pressley

When you sell a home, you want it to look it's best. Buyers will judge a home almost instantly based on how it look son the outside. That's why having great curb appeal is so important to a successful home sale. The good new is that you don't have to spend a ton of money to make your home stand out. Here's a few ideas that will help you spruce up the curb appeal on your home and get more money from the sale.

Replace Old Hardware

Replace old hardware, such as door knobs and house numbers, with fresh new fixtures.

Makeover the Mailbox

If your mailbox is next to your home (not across the street), then you can spruce it up to compliments your home. Pick a box that reflects your home's trimmings. You can paint the post or surround it with flowers.

Add Planters

You can place various potted plants on the front steps and patio, complimenting you garden.

Outdoor Lighting

Low voltage lighting along paths and walkways is a striking way to add flare to your home.

Reveal the Architecture

Don't go overboard with plants and landscaping that can hide your home. Keep your landscaping back from the home to let it shine.

Pressure Wash the Exterior

This is a quick and easy makeover that will make your home shine.. A pressure washer can be rented at most hardware and home improvement stores, and are easy to operate.

Display a Wreath

Welcome buyers with a beautiful seasonal wreath on the front door.

Lay Out a Path

You can use pavers to make a curved walkway and add unique flair to your yard.

A Fresh Coat of Paint

A fresh coat of paint can liven up any home, especially if the current coat is fading or chipped, or the color is outdated.

Add Window Boxes and Shutters

Adding colorful shutters with window boxes with matching paint will brighten up any exterior. You can also add colorful flowers to make it stand out even more.

Line Up the Porch Chairs

If you have a porch large enough for a few chairs, make sure they're lined up. If you don't have matching porch chairs, it would be worth investing in a set.

These are just a few ways you can spice up the exterior of your home and drive a higher price on your home for sale.

HOT HOME LISTING OF THE WEEK!

2228 Cebolla Creek Way NW, Albuquerque, NM  $397,000

3 Bedrooms/ 2 Bathrooms (1 full, 1 partial) / 2345 Square Feet

Fantastic Del Webb gated community! Premium lot, wood tile flooring, plantation shutters, garage door screens, artistic landscaping, upgraded light fixtures & appliances, private courtyard w/OJstom gate & stucco wall are just a few!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Rio Rancho Rated One of the Best Places to Live in America

by Sandi Pressley

 

The third-largest city in New Mexico, Rio Rancho is surrounded by scenic desert landscapes and views of the Sandia Mountains. It has emerged as an alternative to nearby Albuquerque, attracting numerous residents with a high quality of life and plentiful amenities.
The rapidly growing city boasts good schools and a reputation as one of the safest places in the state. Family incomes are well above the state median, while housing costs are still modest.
The Next Best
Hunter Mill, Virginia
Hunter Mill, Virginia
Rio Rancho has also been surging economically in the past decade. By far the area’s largest employer is Intel, which has a $2 billion facility located here. But other employers include major companies like Hewlett Packard and Walmart, as well as schools like University of New Mexico West Campus and Central New Mexico Community College. — Sergei Klebnikov

 

Money magazine has just come out with their top 50 list of best cities to live in America. Rio Rancho made the list at #30! And it's no surprise to anyone who lives here as to why.

What makes Rio Rancho such a fantastic place to live? The amazing scenery is one big reason. The surrounding desert and picturesque Sandia mountains make for a scenic view that can't be beat. People also find that Rio Rancho is a great alternative to living in Albuquerque, as it also enjoys a wide range of amenities and high quality of life.

Rio Rancho also boast a healthy economy and outstanding schools, along with being one of the safest cities in the state. Intel is the largest employer in the city, with a $2 billion facility located here. You'll also find other major employers such as Walmart and Hewlett Packard. Higher education is provided by the University of New Mexico West Campus and Central New Mexico Community College.

The shopping and dining options are also outstanding in Rio Rancho. You'll find plenty of local stores and artisans that create Southwestern arts and crafts. And just a short drive away is the Cottonwood Mall, with more than 135 retailers.

Since the scenery is such a huge draw, you'll certainly enjoy it in the dozens of parks and bike paths, along with 6 dog parks, 5 maintained trails, and 4 aquatic centers.

Rio Rancho Public Schools atke care of 18 schools. You can chose from two regular high schools and two alternative high schools, plus four middle schools, 10 elementary schools and one preschool.

Rio Rancho Facts

Population: 95,594

Clear Days Per Year: 278

Median Family Income: $72,807

High School Graduation Rate: 81.7%

Median Home Price: $199,250

Average Commute: 27 min

Projected Job Growth 2017–2022: 8.35%

Home Price/Income: 2.7x

If living in Rio Rancho sounds good to you, why not start searching for the home of your dream in one of the best cities to live in America. Search homes for sale in Rio Rancho now!

HOT HOME LISTING OF THE WEEK!

3620 Monte Vista Boulevard NE, Albuquerque, NM  $330,000

3 Bedrooms/ 2 Bathrooms (2 full, 0 partial) / 1590 Square Feet

Vintage beauty in the heart of NOB HILL!! Vintage feel in harmony with modern elements. This updated and remodeled classic home features a versatile floor plan with 3BDRs/2BAs plus two living areas, an office/study, second kitchenette and second entrance. Desirable URBAN location is close to shopping, restaurants, parks, Nob Hill, UNM and transportation!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

How to Use Our Website to Buy or Sell Your Next Home

by Sandi Pressley

The Sandi Pressley Team has taken great care in making our website, www.albuquerquehomesolutions.com, a useful and powerful tool for anyone looking to buy or sell a home in Albuquerque. Our website is full of useful features and tools that will help you start your home buying or selling journey. If you plan to buy or sell a home soon, why not a take a few moments to see how our website can be a valuable resource.

Here's a few main features to look for on our website.

For Home Buyers

Featured Properties

Our Featured Properties page showcases our own premium listings in the Albuquerque area. You can sort listings by a number of factors, such as price, type, and open houses.

Property Search

This powerful property search tool lets you find the perfect home in Albuquerque that fits your exact needs. You can refine your search using a wide range of parameters, such as price range, sq feet, construction, schools district, and much more. By clicking on the Map Search tab, you can even draw a map around the area you want to search in.  It makes find the right home in Albuquerque even easier!

There is also a list of neighborhoods in the main menu under "Search MLS" which will let you search for homes in that specific neighborhood, along with information about that neighborhood.

Property Detail Pages

Selecting any property in the Featured Properties or Property Search pages will bring you to a comprehensive detaile page for that property. In addition to detailed information about the property itself, you can also view information about local schools, walks scores, and use a convenient mortgage calculator.

Email Listing Alerts

Be the first to know of new homes that meet your search criteria as soon as they hit the Albuquerque real estate market. It's a free, no obligation service that will help you stay in tune with the local real estate market.

Community Pages

Want to learn more about the communities that make up the Albuquerque area? These community real esatet and information pages will give you the run down on each community, along with being able to search homes for sael in those communities.

Buyer's Resources

This section features a number of useful articles to help home buyers with a variety of topics.

For Home Sellers

Home Valuation

Get an instant market valuation for your Albuquerque or surrounding area home. It's free, and no obligation.

Seller Resources

Just like the Buyer's Resoruces section, this section also features a number of useful articles to help home sells with a variety of topics.

These are just a few of the helpful tools and resources avaiable to our current and future clients. If we can offer any additional help in buying or selling your home, please feel free to conatct us.  We're always happy to help.

HOT HOME LISTING OF THE WEEK!

3620 Monte Vista Boulevard NE, Albuquerque, NM  $330,000

3 Bedrooms/ 2 Bathrooms (2 full, 0 partial) / 1590 Square Feet

Vintage beauty in the heart of NOB HILL!! Vintage feel in harmony with modern elements. This updated and remodeled classic home features a versatile floor plan with 3BDRs/2BAs plus two living areas, an office/study, second kitchenette and second entrance. Desirable URBAN location is close to shopping, restaurants, parks, Nob Hill, UNM and transportation!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Add Southwestern Style to Your Home

by Sandi Pressley

If you're planning to buy a home in Albuquerque, or already live here, no doubt you want your home to reflect the spirit of the Southwest. The Southwest is home to unique artwork and décor found nowhere else. What area some of the essentials you need to make your home a Southwestern haven?

Wall Art and Decor

Adding a Southwestern rug or art to a bare wall is a great way to add rustic beauty to any room. You might try mounting tapestries or rugs with rustic wooden rug hangers that clamp to protect the rug. Your room acoustics will also be softened with rug hangings, especially in rooms with tile floors.

You can also mount terra cotta Kokopellis and gecko lizards, wrought iron suns, rabbit fur mandellas, framed Southwestern paintings and laser-cut metal designs finished in rustic hues.

Southwestern Pottery

For any Southwestern home décor, pottery is a must. You can put pottery anywhere – tables, bookcases, floors, cabinets, you name it. Southwestern pottery tends to get expensive, so you may want to go with Mexican pottery. Mexican pottery is almost the same quality as Southwestern potter in may cases, and it works great with your southwestern décor.

Rugs, Blankets & Throws

You can add a great range of colors to your home with Southwest rugs and blankets, as they come in a variety of striking colors, sizes, and textures. Like pottery, imported rugs and blankets can be more affordable that ones made in the Southwest. You can display them on a wooden kiva ladder for a striking affect. These ladders look like the ones used in the ancient civilizations of the Southwest. You can use blankets and throws as table rugs, on furniture, or as a colorful tablecloth.

Lamps & Lighting

You can use lighting to enhance your Southwest scheme. You can use laser-cut Southwest themed lamps, or chili pepper light strings for a warm glow. Or you can replace switch plates with ones that have a Southwestern theme.

Accessories

You can round out your Southwestern decorating with all sorts of accessories. The options are only limited by your imagination. You can use candles, throw pillows and bedspreads, or a chili pepper canister set in the kitchen. The possibilities are endless.

With these few basics, you can bring all of the beauty and style of the Southwest to your home in Albuquerque.

Check back on our blog every week for more real estate advice and local articles about living in Albuquerque. And make sure to follow us on Facebook for up to date real estate news for Albuquerque and surrounding areas.

HOT HOME LISTING OF THE WEEK!

6108 Eagle Eye Drive NW, Albuquerque, NM  $210,000

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

 Pride of ownership shows thru-out! Single story Pueblo style home delivers an open concept floorplan with tasteful updates thru-out; featuring 3BDRMS/2 Full Baths(Both with double sinks) & 2 Car garage! Backyard features covered Patio & ample space-Perfect for relaxing or Entertaining!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

Buyers - Watch Out For This Email Scam

by Sandi Pressley

It's a nightmare scenario: You've been saving to put down a payment on your dream home. You're about to close the deal, but instead, you're deceived into wiring your money to an account outside of the country. You lose it all – the money, the new home, and possibly your life savings.

This may sound exaggerated, but it's not. It's the classic "business email compromise" scam, but this version targets people buying a home. The problem is that this scam is claiming more victims than ever.

It's a devastating scheme. The victim not only loses all the money they saved for a down payment, but it destroys their dreams and lives as well. Some who have been victims of this scam have lost hundreds of thousands of dollars, their dream home, and even their life savings.

The FBI reports that this kind of scam is on the rise. A company known as Proofpoint is also tracking these schemes.  According to Proffpoint, email schemes have reached a level 14 times higher than last year.

How does it work?

It doesn't take much for scammers to make this scheme work for them. They send emails to lawyers and real estate agents, who unwittingly click a link in the email and their malware is installed, compromising their email account. The scammers now have control of the email and can monitor the account for upcoming transactions. And the real estate professional has no idea this is occurring.

Then the time arrives to close the deal. The scammer will email the buyer from the hacked email account. The email seems perfectly normal, as the email address it's sent from is familiar and the email content looks official. The emails will claim that plans were changed and that the buyer needs to wire money to the seller's bank account.

And once you send the money, that's it. The scammer has it in their account in another country where it can't be touched by U.S. law. Scammers are stepping up their game, following up with a phone call to the buyer. They usually claim that they represent the title company or seller's law office to further convince the buyer that the wire transfer is legitimate. This extra step pays off for the scammer, as the payout is immediate and far higher than other types of scams.

Long Gone

As we know already, the money is gone for good once it's wired.  And the bank is not responsible to reimburse the sender, since the sender is the one who initiated and authorized the transfer. This differs from someone you didn't authorize just stealing money from your accounts. And since the funds are sent overseas, there's basically nothing U.S. law agencies can do about it.

How Can You Protect Yourself?

First of all, don't panic. All you need to do is apply some basic common sense and caution.

Be vigilant: Verify any suspicious emails regarding your transaction. Be alert. It's better to be overly cautious than to lose everything.

Voice verify: You must follow up any emails with a phone call to the sender if the email asks you to sign a document, log into a new website, send money, or give them any financial information. Yes it takes a few minutes, but it's well worth the time.

Talk to your bank: Check with your bank to see if they will place restrictions on wire transfers from your account in the form of a voice verification or other checkpoint.

Don't immediately respond to email: If you get an email that requests some kind of action, regard it with suspicion and follow up with a phone call to the individual sending the email.

We can all protect ourselves from these form of scams if we use care. You can always feel free to contact our office if we are helping you buy a home with any questions about emails you receive from us or anyone involved in the buying process.

 

Check back on our blog every week for more real estate advice and local articles about living in Albuquerque. And make sure to follow us on Facebook for up to date real estate news for Albuquerque and surrounding areas.

HOT HOME LISTING OF THE WEEK!

6108 Eagle Eye Drive NW, Albuquerque, NM  $210,000

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

 Pride of ownership shows thru-out! Single story Pueblo style home delivers an open concept floorplan with tasteful updates thru-out; featuring 3BDRMS/2 Full Baths(Both with double sinks) & 2 Car garage! Backyard features covered Patio & ample space-Perfect for relaxing or Entertaining!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Enjoy the Variety of Albuquerque Parks

by Sandi Pressley

One of the many factors that makes Albuquerque such a great place to live is the parks and recreation system here. No matter your interest, you'll find a park suited for your needs, whether it be golfing, swimming, tennis, baseball, and softball, to bicycling and rock climbing. There's nearly 300 parks, along with open spaces, all for your relaxation and enjoyment. Here's a few of the outstanding amenities the parks in Albuquerque has to offer.

City Parks

Los Altos Park | 10300 Lomas Blvd NE

This city park offers plenty of recreation options from an indoor swimming pool to a skate park.

Rio Grande Nature Center State Park | 2901 Candelaria Rd NW

The Rio Grande Nature Center is a 38 acre urban wildlife preserve habitat. The park includes a visitors center, two gardens, several wildlife viewing areas, an education building and a building housing the non-profit Wildlife Rescue, Inc. You can also enjoy four constructed ponds that serve as a habitat for birds and other wildlife.

Mariposa Basin Park | 4900 Kachina St NW

Mariposa Basin Park features 3 walking trail loops around ponds, ideal for bird watchers, along with playgrounds & sports fields.

Open Spaces

Albuquerque maintains over 29,000 acres of open spaces.

Golf

There are 4 public golf courses located in the Albuquerque park system. They all include a well-stocked pro shop with rental clubs, range balls, cart rentals, and golf retail merchandise. Lessons are also available.

The oldest course is Los Altos Golf Course and is ideal for beginning to intermediate golfers and features a banquet and grill. Other courses include Arroyo del Oso, Puerto del Sol, and Ladera.

Recreation Activities

You'll find plenty of recreational activities which include basketball, flag Football, shooting range, softball, tennis, pickle ball, model aircraft flying, along with open space activities such as rock climbing, model rocketry, extreme recreation, and bicycling.

There's plenty of fun waiting for you in Albuquerque. Find a park near you:

 

 

HOT HOME LISTING OF THE WEEK!

3401 Avenida Charada NW, Albuquerque, NM  $$550,000

3 Bedrooms/ 4 Bathrooms (2 full, 2 partial) / 4000 Square Feet

 Unique Custom home on 1/2 acre lot backing up to open space in the desirable Matthew Meadows! Features including home gym, movie theatre and hot tub just to name a few! New Roof and Stucco in 2014. This home is even available furnished!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

A New Trend to Help First Time Home Buyers

by Sandi Pressley

 

Are you a first time buyer in Dallas/Fort Worth looking for help saving enough for a down payment? You're not the only one. The struggle is real, as they say. But there's been a new trend of young buyers using creative ways to save enough money.  One way is through crowd sourcing, and it's a great and safe way to let friends and relatives help save for this important purchase.
How does it work? Let's say that when a young couple gets married, they invite the wedding gusts to forgo the traditional gift giving and instead contribute to a “Down Payment Fund." Most of the time a newly wed couple already has the items they need for a new home, as they have their own furniture and home items living separately, or together. Now all they need is the perfect present - a new home.
When you break down the math, it makes it even more clear why this is such a great idea. If you have a wedding and invite abut 120 guests who all give gifts of about $186 (the average price), then you would get over $22,000 for your down payment! That would cover a 105 down payment on a $220,000 starter home. Of course this is just an example, and real world result certainly vary.  But it shows how much this can help a new couple on their way to buying their first home.
Services are already in place to make this all happen, such as a company called HomeFundMe. Friends and family can easily and safely contribute to the fund.  Plus the ones contributing can decide if their gift is  ‘conditional’ or ‘non-conditional’ on the beneficiary buying a home.
According to a recent Wall Street Journal article report, “about 400 borrowers have used HomeFundMe to help buy homes since the program launched in October and on average, they raise about $2,500.” The article goes on to show that these funds are used by the borrower along with their own savings to help them reach the down payment.
Add to this the fact that many first time buyers can take advantage of programs from Fannie Mae and Freddie Mac that lets them put down as little as 3%.  Also, FHA programs require as little as 3.5%, and VA Loans are often approved with 0% down!
Gone are the days when you had to come up with a whopping 20% down. And with this creative solution, now even more first-time buyers can make owning a home a dream come true.

 

Many first time buyers struggle with saving enough for a down payment. But one creative way to save that money is gaining traction - crowd sourcing. It's a great way to let friends and relatives help you buy your first home.


Here's how it works. When a young couple gets married, they will invite the wedding guests to skip the usual gifts and instead contribute to a “Down Payment Fund." Usually a newly wed couple already has the items they need for a new home, as they have their own furniture and home items. Now all they need is the new home.


When you see the math, it makes it even more clear why this is such a great idea. For example, if you have a wedding have 120 guests who all give gifts of about $186 (the average price), then you would have over $22,000 for your down payment! That would cover a 10% down payment on a $220,000 starter home. Not bad! This is just an example, and real world result certainly vary.  But it shows how much this can help a new couple on their way to buying their first home.


Services are already in place to make this all happen, such as a company called HomeFundMe. Friends and family can easily and safely contribute to the fund.  Plus the ones contributing can decide if their gift is  ‘conditional’ or ‘non-conditional’ on the beneficiary buying a home.


According to a recent Wall Street Journal article report, “about 400 borrowers have used HomeFundMe to help buy homes since the program launched in October and on average, they raise about $2,500.” The article goes on to show that these funds are used by the borrower along with their own savings to help them reach the down payment.


Another thing that helps first time home buyers is that they can take advantage of programs from Fannie Mae and Freddie Mac that lets them put down as little as 3%.  Also, FHA programs require as little as 3.5%, and VA Loans are often approved with 0% down!


Gone are the days when you had to come up with a whopping 20% down. And with this creative solution, now even more first-time buyers can make owning a home a dream come true.

HOT HOME LISTING OF THE WEEK!

2228 Cebolla Creek Way NW, Albuquerque, NM  $397,000

3 Bedrooms/ 2 Bathrooms (1 full, 1 partial) / 2345 Square Feet

Fantastic Del Webb gated community! Premium lot, wood tile flooring, plantation shutters, garage door screens, artistic landscaping, upgraded light fixtures & appliances, private courtyard w/OJstom gate & stucco wall are just a few!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

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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