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Archives: October 2017

The Hidden Horrors of Going FSBO (For Sale by Owner)

piggy bank surrounded by coinsMany home sellers have considered skipping the real estate agent to save on closing costs, but very few have actually succeeded in seeing those savings. There’s a good reason: the average homeowner doesn’t have the rigorous training and real estate knowledge that a licensed agent does.

But just what makes For Sale By Owner (FSBO) such a bad idea? From incessant inconveniences to costly paperwork mistakes, here are a few of the horror stories that FSBO sellers inevitably encounter.

The Daunting Task of Marketing Your Home

It takes more than a “For Sale” sign in your front yard to make buyers notice your home. According to the National Association of Realtors, 95% of buyers use the Internet in their home search.

This means that online marketing — starting with listing your home on the local listings database, sharing your listing to dozens of social media platforms, and advertising your listing on numerous websites with a global audience — is essential to selling your home.

Without an Agent, Home Marketing Isn’t Cheap

This is where it gets expensive: yard signs, newspaper ads, brochures, high-quality photographs, and a professional-looking website — things real estate agents have at their disposal — are your responsibility to finance and maintain when you have to do your home’s marketing yourself.

Incorrect Home Pricing: The Ghosts of Lost Profits

chart of fluctuating home valuesEven after all that marketing, FSBO sellers don’t actually make more money. In fact, many lose money.

The research backs it up: the National Association of Realtors reports that the average home sold with an agent sells for $240,000. FSBO homes, however, sell for only $185,000. What you could save in commission you lose by pricing your home incorrectly or skimping on the marketing.

Without an Agent, Finding the Right Price is Impossible

Part of the problem with a low-dollar sale is the asking price. Real estate agents have more tools and resources, plus an intimate knowledge of the local housing market, so they can spot a wrongly priced listing from a mile away. FSBO sellers, however, have only limited access to home value tools and resources about past sales activity.

The Mountains of Paperwork

stacks of papers in bindersUnderstanding the paperwork involved in a real estate transaction is one of the biggest challenges of selling For Sale By Owner.

After all, the contract isn’t just an agreement about the price; it also includes contingencies (like those for home inspections and financing), the closing date, and other important terms.

Without an Agent, Sellers Can Make Costly Mistakes

The paperwork involved in a home sale can be complicated and full of legal jargon. An oversight could mean a costly mistake or even a lawsuit. Real estate agents, however, have the knowledge and understanding to take care of all the necessary disclosures.

Don’t Become the Next FSBO Horror Story

Sign that says For Sale By OwnerYes, commission is a sizable chunk of change. But so are the hidden fees and lost profits, not to mention the added stress, that come with selling a home by yourself. The best way to save money, save time, and save headaches is to work with an experienced real estate professional.

We’re here to help! Give us a call and let’s talk about the home selling process.

hot air balloon festival

Your Guide to Moving to Albuquerque

So you’ve made the decision to move to Albuquerque. Congrats! This is a fantastic place to live. The weather is moderate and comfortable year-round, there’s ample outdoor recreation, and the local culture is unbeatable.

This area is known for its fascinating Native American culture and history, as well as its delicious food. Local Albuquerque has vibrant street art and murals, awesome museums and aquariums, and no shortage of gorgeous outdoor sights.

If you’re moving here, you’ll soon discover why locals get so excited about hot air balloons, and what it means to live at a higher altitude.

We could rave about life in Albuquerque for days, but before you move, check out these helpful relocation tips!

Plan Ahead

The number one tip for a successful and stress-free move is in-depth planning. If you have the time, start planning your move a couple months in advance. Use these relocation tips as a guide.

Moving with a pet? Check out these tips for a stress-free move with your four-legged family members!

Get Rid of Excess Stuff

A month or two before your move, have a garage sale. Get rid of everything that you don’t use or that you’ve outgrown. This way, you’ll have less stuff topack and worry about when it’s finally time to move.

If you don’t have the time for a garage sale, consider donating unwanted items to a local charity.

Gather Packing Supplies

moving boxesIn the weeks before you start packing, begin to gather packing supplies. Hit up your local big-box retailer during off-hours to see if they have extra boxes. You can also go to the liquor store for this. Keep in mind that these boxes are not reinforced.

Be sure to stock up on other supplies, including:

  • Packing tape to reinforce boxes
  • Bubble wrap or other cushioning for fragile items
  • Labels
  • Permanent markers

Label Everything!

When it finally comes time to pack up everything, do it one room at a time. Start a week or two in advance by packing up the stuff you don’t use every day. Pack heavy items like books in smaller boxes, for easier moving.

Try to pack by room, and then label every box by the room it belongs to. Once you arrive at your new home, instruct the movers or friends to move boxes labeled with their corresponding room.

Keep Valuables and Important Documents Close By

The night before moving, pack all of your personal, must-have items in a box or bag and keep it close by. Pack this with any valuables, like jewelry or antiques, as well as with personal documents.

Include medications, contact information, cell phone chargers, and snacks, as well as toiletries like your toothbrush. You’ll thank yourself later.

Prepare Your Body

high elevationIf you’re moving from somewhere sea-level, you should know that your body may take a few days or even weeks to adjust to the altitude.

This is very normal for newcomers to Albuquerque, but give your body a few days of lounging around to adjust.

Any Other Questions? Let Us Know!

We’re so excited to have you join the Albuquerque community! If you need any additional relocation resources, please let us know.

 

stunning sunset view

Los Poblanos: Stunning Architecture and Natural Wonders

Welcome to Los Poblanos, an Albuquerque neighborhood where historic architecture blends seamlessly with modern day art and convenience. Named for the Los Poblanos Historic Inn & Organic Farm, this community is known for its expansive agriculture and rustic beauty.

Residents feel as though they’re in a private resort year-round, with luxurious home features and breathtaking views of the Sandia Mountains. It’s easy to become lost in the New Mexican sunset, which paints gorgeous colors across the evening sky every evening.

If you’re searching for a luxurious estate in one of the most beautiful communities of Albuquerque, you should take a minute to explore Los Poblanos.

Immerse Yourself in Luxury

formal dining roomLiving in Los Poblanos means resort-style relaxation, while in the comfort of your own home. Many of the homes for sale in Los Poblanos come equipped with top-of-the-line features and amenities. It’s not uncommon to find granite countertops, whirpool tubs, open floor plans, and formal dining rooms.

Plus, while you live in luxury, you have convenient access to all the wonders of Albuquerque.

Exciting Adventures in Nature

sandia mountainsHiking enthusiasts will explode with joy over living less than 30-minutes from the Sandia Peak tramway. Sandia Peak offers summer sports and winter sports, including biking, hiking, skiing, and scenic rides on the tram.

The Rio Grande Nature Center is just 15-minutes away from the homes of Los Poblanos, offering trail access and wildlife viewing.

Wherever you are in Los Poblanos, you’re guaranteed a jaw-dropping view.

Historic Architecture

horno historic ovenOriginally inhabited byancient Pueblo Indians, the Los Poblanos community of Albuquerque is rich with history, culture, and architecture. Famous architect John Gaw Meem designed and built many of the building here, and is renowned all over the world for his work.

Residents take pride knowing that they live somewhere that is unlike any other. Almost every home in Los Poblanos features designs similar to John Gaw Meem’s, making the community itself a work of art.

Convenience to Albuquerque

Another wonderful feature of Los Poblanos is its quick commute to the rest of Albuquerque. Historic Old Town is just a 10-minute drive. Residents can travel to vibrant Downtown is less than 20.

Albuquerque offers Los Poblanos residents the ultimate experience in food, entertainment, and culture. Take your tastebuds on a journey through Latin America, absorb the wonders of nature at the Rio Grande, and take comfort in your own luxurious home.

Want to Live in Paradise?

If you’ve been dreaming of a place like Los Poblanos, and are eager to call this community home, please contact us! As your Albuquerque and New Mexico experts, we’re here to help make your real estate dreams come true.

6 Reasons Why Owning a Home is Awesome

From personalizing your living spaces to turning a profit when you sell, there are dozens of reasons why first-time home buyers can’t wait to find a home and make it their own. Though there are plenty of benefits of owning a home, here are the six benefits that stand out from the rest.

decorated room in a home

1. You Can Customize Your Space

Whether you want to invest in the latest high-tech home features or paint your walls neon green, owning a home gives you the freedom to do just about anything you want.

cute dog in a backyard

2. You Make the Rules

Unlike with a rental property, where a landlord can dictate what you can and can’t do while living there, living in your own home means you have the freedom to host parties, adopt a pet, plant a garden, you name it. As a homeowner, you are in total control!

calculator next to accounting sheet

3. You Can Take Advantage of Tax Breaks

It’s true what they say: owning a home is an investment. But that doesn’t mean there aren’t ways that you can reap financial rewards up front. The IRS allows homeowners to deduct mortgage interest, property taxes, and capital gains from their annual taxes.

flowers in a street median

4. You Can Better Invest in Your Community

Eager to make friends with your neighbors? Want to participate in homeowners association meetings? Can’t wait to get involved with community beautification projects or local organizations? When you own a home, you can truly become an important part of the community.

cozy home

5. You Can Put Down Roots

Speaking of getting involved in your community, owning a home also allows you to settle down and establish roots in a home and neighborhood that you love.

increasing heights of coin stacks

6. You Can Earn Money Back When You Sell Your Home

The longer you live in your home, the more equity you build. And if the homes in your neighborhood are appreciating in value, you can earn a significant amount of money back when you decide to sell your home — maybe even thousands of dollars!

Want to Own a Home of Your Own? We Can Help!

Homeownership is a rewarding experience, especially if you have the right tools and resources at your fingertips. If you’re considering buying your first home, give us a call and let’s talk about your plans!