Real Estate Information

Everyone knows that the best time to sell anything is when demand is the highest for that item and the supply is low. If you plan on selling your home in Albuquerque, there’s great news.  Two major reports released by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to put your home on the market in Albuquerque.

Here is the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report that shows this.

REALTORS® CONFIDENCE INDEX

Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that home buying demand continued to outpace the supply of homes available in January.

The map below illustrates buyer demand broken down by state.  If you look at Arizona, you can see that buyer demand is strong in this state, which is great news is you plan on selling your home in Albuquerque

In addition to revealing a high demand for homes, the index also shows that compared to conditions in the same month last year, seller traffic conditions were strong in Arizona.

That shows that demand for housing continues to be strong, but supply is struggling to keep up, and this trend is likely to continue throughout 2018.

THE EXISTING HOME SALES REPORT

The most important data revealed in the report was not sales but was instead the inventory of homes for sale (supply). The report explained:

• Total housing inventory rose 4.1% from December to 1.52 million homes available for sale.
• Unsold inventory is 9.5% lower than a year ago, marking the 32nd consecutive month with year-over-year declines.
• This represents a 3.4-month supply at the current sales pace.

According to Lawrence Yun, Chief Economist at NAR:

“Another month of solid price gains underlines this ongoing trend of strong demand and weak supply. The underproduction of single-family homes over the last decade has played a predominant role in the current inventory crisis that is weighing on affordability.”

There’s a guideline that often applies in Albuquerque Real Estate; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Between 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.

As mentioned earlier, there is currently a 3.4-month supply, and houses are going under contract fast. The Existing Home Sales Report shows that 43% of properties were on the market for less than a month when sold.

In January, properties sold nationally were typically on the market for 42 days. As Yun notes, this will continue unless more listings come to the market.

“While the good news is that Realtors in most areas are saying buyer traffic is even stronger than the beginning of last year, sales failed to follow course and far lagged last January’s pace. It’s very clear that too many markets right now are becoming less affordable and desperately need more new listings to calm the speedy price growth.”

Inventory of homes for sale is still well below the 6-month supply needed for a normal market and supply will ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.

If you plan on selling your home in Albuquerque, now is the time.  You can find out what your home is worth in Albuquerque with our home valuation website ValueMyAlbuquerqueHome.com.  You can also follow us on Facebook for the latest real estate news in Albuquerque. And always feel free to call us at 505-980-2999 to speak with an experienced agent.

HOT HOME LISTING OF THE WEEK!

5243 Foothills Trail NE, Albuquerque, NM  $798,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3156 Square Feet

Gated community of the Wilderness! Casual elegance abounds in this Scott Patrick Gold Package custom home. Tons of features include Oversized great room w/stacked stone fireplace, wall of windows! Gourmet kitchen has custom island, pantry, gas cooktop, custom cabinetry, Sub Zero fridge, Wolfe double oven. Private Master Suite on its own wing! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are you planning to buy a home in Albuquerque and have kids in school? Then no doubt you want to find the right home near the best schools in Albuquerque.  You certainly don’t want to end up regretting buying your home if it turns out that the school you live near isn’t right for your child.

You may think that your real estate agent can show you all the best schools in Albuquerque. But they can’t. Fair housing laws have been enacted that prevents agents from recommending schools.  Why? It was discovered that some agents in recent years have been labeling schools as "bad" to swing the sales of homes toward more affluent neighborhoods. So it’s a good thing that agents in general aren’t allowed to recommend schools. That means that you as a parent should research the best schools in Albuquerque for your children. After you find a school you think would best suit your children’s needs, then your agent can help you find the right home near that school.

There are at least 3 questions you should ask when finding the right school in Albuquerque.

What school will you child attend?

Sure this may seem obvious, and that’s why some people forget to ask it. There are dozens of schools in the Albuquerque Public School district, so that means you have a lot of schools to choose from. Their website has a great deal of information about schools in Albuquerque that should be useful in finding a good school.

What are the numbers?

Even though numbers don’t provide a complete perspective, they are a great place to start. You can find helpful ratings and scores on websites such as GreatSchools.org and Niche.com. They use test scores, reviews, and other factors to rate the best schools in a given area.

What about reputation?

If you know people in the area you want to move to in Albuquerque, ask them what they know the schools in the area. You might even meet with the principal of a school to get an even closer look, presuming you can make such an arrangement. See if they can give you a tour of the school with your child present.  Look at class sizes.  Is the library well stocked? What does your child think about the school? These are great indicators to look for.

Finding the right school and the right home for sale in Albuquerque is worth the effort.  Once you do find a great school for your child, let us help you find the right home near that school.  Our powerful search tools can help you find homes for sale near the schools of your choice in Albuquerque.  Also make sure to take advantage of our Home Buyer Listing Alerts to get automated alerts of homes as they hit the market. And you can always feel free to call us at 505-980-2999 to speak with an experienced agent.

HOT HOME LISTING OF THE WEEK!

10 Tres Amigos Road, Placitas, NM  $399,000

3 Bedrooms/ 2 Bathrooms (2 full, 0 partial) / 2200 Square Feet

This stunning Placitas Custom Home offers a secluded .97 AC Sanctuary w/breathtaking views. Open & spacious floorplan featuring a dramatic entry way into a cozy living space. Warm & inviting property in a highly sought-after location. Fabulous access to hiking & biking.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Antique collecting can be an addiction – just ask any antique lover. If you live in Albuquerque, you already know that this is the place to find the best antiques in the Southwest.  And if you’re thinking about buying a home in  Albuquerque and love to shop for antiques, then welcome home! Downtown Albuquerque is filled with places to pick up all the cool things from the past, no matter what your taste is.  You’ll find truth in the old saying “they don’t make ‘em like they used to” as you delve into the antique stores of Albuquerque.  Here’s a few of the better antique stores to get you started on your journey back in time.

Antique Specialty Mall

With nearly 50 dealers covering an area of over 18,000 sq feet, you’ll find plenty of treasures spanning over 200 years of history. You’ll definitely need to make sure you have enough time to spend at this one-stop antique shop.

Antiques & Things

Another great antique mall in Albuquerque, with 75 vendors in 15,000 sq feet. They feature a wide range of collectables and fine furniture, along with jewelry, clothing, Western and Native American goods, toys, art, and more.  Plus they’re located in an historic Five & Dime with the original oak floors and old cases, just to add more historic flavor to your antique shopping.

Cowboys & Indians Antiques

If you’re looking for antique Native American and Western art, then Cowboys & Indians Antiques is where you need to go. You’ll find items from many of the best-known antique dealers in the nation. Located on Route 66, it’s the perfect setting for your western antique shopping spree, or just to browse and enjoy the amazing pieces.

Old Town Antiques

This antique shop features a bit of everything. The vibe is both museum and retail store.  You’ll find an eclectic mix of items including antique Indian art, jewelry, pottery, antique art, early science, and much more.

There are so many great reasons to live in Albuquerque.  Check back on our blog every week for more great reasons to buy a home here. And if you’re looking to buy a home in Albuquerque and the surrounding areas, be sure to check out our powerful home search tool to find the latest homes on the market!

HOT HOME LISTING OF THE WEEK!

5719 Balsa Court NE, Albuquerque, NM  $410,000

4 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 2830 Square Feet

This beautiful custom home is nestled on a scenic mountain view lot in the highly sought after Peppertree Subdivision. An elegant entry to the circular staircase leads to the wonderful loft/office and 3 comfortable guest bedrooms & full bath.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Self-made millionaire David Bach has written nine consecutive New York Times best-selling books. His book, “The Automatic Millionaire,” was on the New York Times bestseller list for a whopping 31 weeks. In fact, he is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

In a recent CNBC article, Bach explained that: “The biggest mistake millennials are making is not buying their first home.” Then he said that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”

Bach went on to explain why buying a home is so important:

“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.”

 “Don’t do a 30-year mortgage. You want to take that 30-year mortgage and instead pay it off early, do a 15-year mortgage. What happens if you do a 15-year mortgage? Well, one, you pay the mortgage off 15-years sooner, that means you’ll be able to retire in your fifties. Number two, you’ll save a fortune (on potentially hundreds of thousands of dollars in interest payments).”

What will it cost to pay your mortgage in fifteen years? Here’s what he had to say:

“For fifteen years, you got to brownbag your lunch. Think about that! Brownbag your lunch literally for fifteen years. You can retire ten years sooner than your friends. You’ll have real wealth, because you bought a home – you’re not a renter. And you’ll be financially secure for life.”

If a well-respected millionaire gives advice, it’s usually a good idea to follow it.  But of course, he’s not the first person in the know to advice on the wisdom of buying a home. Many successful individuals have found that over time, buying a home is the most advisable course toward financial security.

As an additional note on David Bach’s experience, he has been a contributor to NBC’s Today Show, appearing more than 100 times, as well as a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS. He has also been profiled in many major publications, including the New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, Washington Post, the Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes. Not a bad resume!

If you’re ready to buy a home in Albuquerque, you couldn’t have found a better city to buy a new home! Give us a call at 505-263-2173 to talk to an experienced agent. And if you don’t want to talk to someone just yet, you can browse our website for the latest real estate on the market.  And make sure to use our powerful home search tool to find the home of your dreams in Albuquerque.

HOT HOME LISTING OF THE WEEK!

522 Palo Alto Drive NE, Rio Rancho, NM  $320,000

4 Bedrooms/ 2 Bathrooms (1 full, 1 partial) / 2960 Square Feet

Like new Pulte Home Ruby Model versatile floor plan. So many options! Upgraded gourmet kitchen with stacked cabinets, SS appliances, electric cooktop, built-in oven, granite countertops, backsplash, island, pantry and recessed lighting, tile flooring! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are you looking for the perfect romantic thing to do with your loved one this Valentine’s Day in Albuquerque? If you own a home in Albuquerque, you have the advantage, as there are so many things about this city that’s perfect for lovers – great food, clean air, and wide open spaces. So put away those chocolates and do something different this Valentine’s Day in Albuquerque. Here’s a few of the best things to do for couples to get you started.

Sandia Peak Tramway

This may not be the first thing that comes to mind when you think of romance, but when you’re holding hands at 10,000 feet overlooking the Sandia Mountains and the entire city, what could be more romantic? Sandi Peak Tramway is the longest tram in the country and runs every 20-30 minutes and is a 15 minute ride. You can then have a romantic lunch or dinner at Sandiago’s Grill at the Tram while you enjoy the beautiful view.

ABQ BioPark Botanical Garden

The botanical garden features desert and Mediterranean plants covering 32 acres, setting the perfect backdrop for a walk along the 1.5 mile winding scenic footpaths.  And for a cozier setting, you can go to the ABQ BioPark Aquarium, where the dim lighting and sharks will set the mood.

Balloon Ride

One thing that Albuquerque is certainly famous for is hot air balloons.  It’s the home of the largest balloon festival in the world, the Albuquerque International Balloon Fiesta.  Why not see for yourself what it’s like to fly free in the sky with your loved one? Companies like Air Carriage offer sunrise packages that are sure to thrill you both.

Albuquerque’s Old Town

Spend a few hours in the old west in Albuquerque’s Old Town.  You can stroll through the adobe nooks and old vigas, visit the Albuquerque Museum, enjoy a latte at Velvet Coffee, and shop the myriad unique boutiques in this historic district.

If these ideas don’t quite suit you, here’s some more ideas for spending the perfect Valentine’s Day in Albuquerque. Check back on our blog each week for more great local Albuquerque information and real estate advice.

HOT HOME LISTING OF THE WEEK!

8222 Sprenger Drive NE, Albuquerque, NM  $329,000

4 Bedrooms/ 3 Bathrooms (1 full, 2 partial) / 2300 Square Feet

Beautiful & impeccably well-maintained original owner property on oversized lot w/paved backyard access perfect for RV parking. Open floorplan featuring 4 bdrms,3 Baths-w/updated cabinets/counters. Back yard offers gorgeous & mature landscaping w/low-use drippers, fish pond w/water fall & steel shed.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

If you live in Albuquerque and are on Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) benefits, you may have wondered if buying a home is attainable.  Perhaps you’ve wondered if merely owning a home may affect your benefits, making home owning nearly impossible. The fact is that many people living on SSDI and SSI benefits do qualify to buy a home, and it’s possible that you can as well. But as you can guess, there are obstacles to think about.

What are some of the challenges? As you know already, the benefits for SSI are low, and you will probably struggle to save for a home while trying to make ends meet.  And if you live on SSDI benefits, you may not be sure how long those benefits will last.  So when you go to apply for a loan, it may be difficult to prove you have a stable income.

Another factor to consider is that SSI rules limit how much income and assets you can have while receiving benefits.  So that creates a fine line between making or having enough to save for a home and keeping your benefits. Here’s the good news though:  the home is considered your primary residence, and not an asset.

All of this is not presented to discourage you from buying a home in Albuquerque. It may seem almost impossible to buy a home if you are on SSI or SSDI, but it’s not. There are a number of programs that can help.  For example, Fannie Mae offers loans for people with disabilities.  Here’s some examples:

• Fannie Mae loans for disabled individuals
• Individual Development Account (IDA)
• Habitat for Humanity
• Housing and Urban Development (HUD) Homeownership Voucher Program

There may also be some nonprofits in Albuquerque that can help as well.

The bottom line is that if you are on SSI or SSDI and are considering buying a home in Albuquerque, give us a call at 505-980-2999 to see how we can help you find assistance.

HOT HOME LISTING OF THE WEEK!

10 Tres Amigos Road, Placitas, NM  $399,000

3 Bedrooms/ 2 Bathrooms (2 full, 0 partial) / 2200 Square Feet

This stunning Placitas Custom Home offers a secluded .97 AC Sanctuary w/breathtaking views. Open & spacious floorplan featuring a dramatic entry way into a cozy living space. Warm & inviting property in a highly sought-after location. Fabulous access to hiking & biking.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Are you looking for a new way to start the day in Albuquerque?  If your way of waking up is with a delicious cup of java, tea, or tasty pastry, then you’ll have plenty of ways to do that in Albuquerque.  This city is filled with unique places to have the perfect espresso or refreshing cup of tea.  Here’s a few of the best places to get coffee and tea in Albuquerque.

Trifecta Coffee Company

Known as the first combined coffee roaster, coffee bar, and bakery in Albuquerque, Trifecta also features roasts from around the world, including coffees from Latin America, Mexico, South America, Africa, and the Pacific Rim. The coffee is not the only great thing about Trifecta.  Their pastries area all the rage, with blueberry scones, apple cake, and quiché of feta and artichoke.  The atmosphere is relaxed, as are the people who work here. All this adds up to Trifecta being a favorite morning spot in Albuquerque.

Espresso Fino

This family owned espresso bar features locally roasted coffees that are certified organic fair trade. Located in downtown Albuquerque, you can enjoy your brew in the charming atmosphere inside the shop, or get some fresh air in their sidewalk seating. All three owners, Greg, Nina, and Pablo are talented baristas, assuring a perfect brew with every visit. A downtown Albuquerque gem for sure.

Prismatic Coffee

If you find yourself in the sawmill district of Albuquerque, make sure you stop by Prismatic.  Not only can you get an outstanding cup of coffee, but they feature stroopwafels, a waffle cookie from the Netherlands. The owners and baristas take pride in what they do and it shows. This is not the coffee you find at the big chains.  They highlight the quality and care of fine coffee roasting. And of course you’ll find their passion translates to great customer service.  And if you need a little help deciding what you want, their unique flavor wheel can help you chose the perfect brew.

Humble Coffee Company

In addition to having some of the best coffee in Albuquerque, Humble Coffee also features breakfast burritos which are a big hit with customers. If you’re a tea drinker, then you’ll also find this to be a great place to sit and sip your favorite selection.  The vibe is hip and modern, yet charming. You can relax inside and take advantage of free wi-fi, or enjoy the outside patio.

Looking for more great places to start your day in Albuquerque? Check out the top coffee shops in Albuquerque.  And make sure to visit our blog every week for more great things to see and do in Albuquerque.

HOT HOME LISTING OF THE WEEK!

5243 Foothills Trail NE, Albuquerque, NM  $825,000

3 Bedrooms/ 4 Bathrooms (2 full, 2 partial) / 3156 Square Feet

Amazing views of the Sandia Mtns & Rio Grande Valley in this beautiful gated community. Scott Patrick Gold Package custom home features oversized great room w/stacked stone fireplace, wall of windows, and much more! 

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

In 2017, Sandi and her team closed out a successful year in Albuquerque real estate to rave reviews on Zillow. In fact, out of 78 reviews of The Sandi Pressley Team on Zillow, 27 were from last year alone! The team also was rated 4.9 out of 5 stars, an impressive score for sure.  And according to Zillow, her team also sold a total of 262 homes during 2017.  With those impressive numbers, it’s easy to see why The Sandi Pressley Team is taking the lead in the Albuquerque real estate scene.

It takes a special group of people to be this successful.  Her clients mention their appreciation for everything from the marketing, quick response time, knowledge, and professionalism demonstrated by Sandi and the team. And the great reviews come from both people buying and selling homes in Albuquerque. Here’s a sample of what people are saying:

From people selling a home in Albuquerque:

“We are extremely impressed with Sandi Pressleys team. From the pictures to the advertising top notch. We were impressed with the response time of all involved in selling our home. A special thanks to Sharahi Santos our realtor. She was there for us and went above what one would expect.”

“Working with Sandi was an excellent experience. She has her own team of workers that are great at what they do; they are assigned to different tasks to make sure everything is done on time and done well. Sandi's team was amazing and not only met my expectations but surpassed them. If you want your   home sold quickly and without a lot of fuss, call Sandi Pressley!”

“We were very impressed with Sandi and her team.  Sandi was extremely professional and very knowledgeable about our neighborhood's market.  Her team was great to work with; always professional and responsive. Because of the efforts from Sandi and her team, we received multiple offers and negotiated   an offer above asking price within 48 hours of listing.”

From people buying a home in Albuquerque:

“I have bought and sold over 20 properties in two states over 50 years and Sandi Pressley stands tall above all the realtors I've used.  She returns all my calls and is supported by the most efficient and wonderful team.  Just the Finest !”

“We would 100 percent recommend Tori Ducket to anyone in the market to buy a house. We got to know her professionally and now we even call her a friend! She takes very good care of her clients and treats everyone so well!”

“This is the second time I have worked with Arny; I have now bought one home through him and sold one as well.  I am highly recommending him to anyone looking for a realtor -- whether you are buying or selling.  He listens well, is very prompt in all correspondence, is respectful and professional   and offers sage advice.  Equally important, Arny has the full support of Sandi's entire team which may be the best in the business.”

The evidence is clear – if you plan to buy or sell a home in Albuquerque, then The Sandi Pressley Team is your best choice. If you want to learn more about how Sandi and her team can help you with your next real estate transaction, give us a call at 505-980-2999 or 505-263-2173 today!

HOT HOME LISTING OF THE WEEK!

10001 San Francisco Road NE, Albuquerque, NM  $1,250,000

6 Bedrooms/ 6 Bathrooms (2 full, 4 partial) / 5750 Square Feet

This dream home is a slice of paradise at over 5800SF! Open concept floorplan showcasing arch accents,columns,gleaming tile, & hardwood flooring, and lush carpet. Renovated Spa-Like master bath offers many amenities including Steamroom.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Where has 2017 gone? 2018 is fast approaching, so it’s time to get ready for the party! There’s a number of great New Year’s Eve events coming up this Sunday night in Albuquerque.  Get ready to have a great time and bring in the New Year in style with these events!

New Year's Eve Dinner at Gruet Winery

Get ready for an extraordinary 4-course dinner paired with Gruet’s vintages.  It’s the perfect way to start off the evening of festivities. Dinner prices range from $90 - $180 per person.

Capricorn Pre New Year's Eve 2018 by Famous Hip Hop Radio

Why not start the party early? Come to the American Legion Post 13 on Saturday night and get your groove on with Uncle Frank’s Birthday. $20 at the door.

Hotel Andaluz's New Year's Eve Black & White Ball

Bring in the new year with elegance at Hotel Andaluz. The Tracy Whitney Quartet will entertain in the lobby from 8 to 11 p.m., followed by a dance party featuring a DJ from 11 p.m. to 1:30 a.m. The countdown to midnight features a balloon drop and Champaign toast to 2018.

New Year's Eve on Civic Plaza

If you want to celebrate the New Year for free with the family, come join your fellow Albuquerque neighbors at Civic Plaza.  There will be activities such as ice skating, food trucks, concessions, and holiday tunes.

Have a safe and happy New Year 2018!

HOT HOME LISTING OF THE WEEK!

8314 Calle Picaflor NW, Albuquerque, NM  $850,000

4 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 4710 Square Feet

Exquisitely appointed single story custom home offers an exclusive & tranquil environment nestled on 1 Acre Sanctuary. Open concept floorplan featuring a dramatic entry way into inviting living area, 3 car garage, hardwood flooring, and so much more!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

The Sandi Pressley team would like to wish all of our past, present, and future clients the very best of the holiday season. We thank all of our clients over the past year for allowing us the pleasure and privilege to help you fulfill your dream of owning a home in Albuquerque.

Happy Holidays and a Happy New Year!

HOT HOME LISTING OF THE WEEK!

2032 Calle Pajaro Azul NW, Albuquerque, NM  $750,000

3 Bedrooms/ 3 Bathrooms (2 full, 1 partial) / 3600 Square Feet

Custom Single-Story Spanish inspired Dream Home! Stunning open concept floorplan showcases 3 living areas. Lush 1 acre property bordered by cottonwoods & calm outdoor living w/covered patios overlooking Horse Stables & Park-like grounds!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team