Skip to main content

Archives: February 2018

Costly Mistakes to Avoid After You Buy Your First Home

A single-level ranch-style house with a front porch, two-car garage, and well-maintained front yard.You’re smart. You’re doing your research about home buying and homeownership (like you are right now!), so you feel like you’re prepared to avoid common home buying pitfalls. But you’ll soon find that once you’ve moved in, there is a whole new list of common problems that plague unwary first-time homeowners.

To help you make the best buying and ownership decisions possible, we’ve outlined some of the the biggest blunders that first-time buyers make after closing on their home.

Investing in Too Many Upgrades

Not every home improvement project is worth the money or effort. Many first-time homeowners make the mistake of not considering a project’s return on investment, at least until it’s time to sell the house down the road.

If you want to know which home improvements are worth the investment, talk with a real estate agent or get a market report for your neighborhood. Give us a call and we’ll send one to you.

Ignoring “Minor” Maintenance Issues

Water dripping out of a long kitchen faucet and into the sink.As your home ages, seemingly minor issues may arise. But be careful: A dripping faucet, crumbling caulk, or slanting floors could spiral into much bigger headaches if you don’t take care of them quickly.

To avoid shelling out hundreds or even thousands of dollars down the road, tackle these maintenance issues as soon as you can.

We’re happy to provide local vendor recommendations if you need maintenance work. Just give us a call!

Choosing the Cheapest Repair Option

Quality comes at a price, especially when it comes to making repairs. Whether it’s picking up a cheap tool set or going with the lowest bid for a service provider, many first-time homeowners make the mistake of sacrificing quality for cost.

Contact us and we’ll be happy to recommend a high-quality local service provider.

Trying to DIY a Complicated Project

A large bathroom with white countertops, a white standing tub, white bidet, frameless glass shower, and orange walls.Some things can be done yourself. Think painting, hanging up shelves, or sprucing up the front entry.

But when it comes to stuff like plumbing, electricity, or structural engineering, think again. Hiring a professional will save you time and money — and keep you from starting a project you don’t know how to finish.

Need to talk to a contractor? Call us and we’ll give you recommendations.

Not Preparing for the Unexpected

A sudden job change, severe weather damage, or major maintenance problem can throw a wrench in your plans. Be sure that you budget accordingly for unexpected expenses as a homeowner.

We’re Happy to be a Resource

As local real estate experts, we have a wealth of information that can help you avoid many of these first-time home buying and homeownership mistakes. Contact us to learn more.

sign in front of home for sale

3 Key Reasons Why You Should Sell Your Albuquerque Home

As the year continues, you might be thinking back on your resolutions for 2018. For many homeowners, 2018 has one main goal: to sell their home. If you’ve been wanting to sell your home in Albuquerque, now may be a fantastic time to do so.

To help you keep up with your 2018 goals, we’ve done some research to present to you the 3 key reasons you should sell your home.

Albuquerque’s market favors sellers, making now a wonderful time to get the return on your investment you’ve always hoped for. Let’s dig in.

Spring Awakening

old town signSpring is a great time to sell your home because it’s when buyers are most motivated. Warm weather brings on “spring fever” in real estate, meaning that buyers see the rising temperatures as the perfect time to get out there and find their dream home.

Since Albuquerque has some of the finest weather in the country, almost any time of year is great for selling a home. However, the months leading up to spring remain as a beneficial time to sell.

A Seller’s Market

When low inventory and high demand combine in real estate, it’s known as a seller’s market. That’s exactly what’s happening in Albuquerque. The area continues to be highly sought-after by homebuyers, and it isn’t hard to see why. With excellent public schools, breathtaking natural scenery, and a wide variety of fun things to do, Albuquerque offers a high quality of life.

As a result of current market conditions, average sales prices are steadily increasing.

Fewer Days on Market

homeRemember that seller’s market? As the demand for homes in Albuquerque continues to rise, buyers are scooping up homes faster than ever!

As a result, the number of days a home typically spends on market has decreased. In Albuquerque, the median days on market in January was 22 for 2018. In 2017 it was 27.

Need Another Reason to Sell?

You have an expert team on your side. When you list your home with the Feil Cabinet, you’re enlisting the help of dedicated Albuquerque realtors who will stop at nothing to achieve your goals.

If you’re interested in selling your Albuquerque home, please reach out to us. We would love to provide you with a complimentary home evaluation, as well as market reports for similar properties in your neighborhood. We even have resources for staging your home and a timeline for selling it.

Any other questions about the Albuquerque real estate market? Please give us a call at (505) 235-9398. We’re always happy to help.

 

sandia mountains

5 Reasons to Drop Everything and Move to Albuquerque Right Now

Let’s be real: there’s no place quite like Albuquerque. Centrally located, close to natural wonders and metropolitan attractions, and home to the best chiles in the world, Albuquerque continues to impress long after you’ve moved here.

There are so many reasons to love Albuquerque, it’s hard to pick our top 5. In addition to gourmet food, gorgeous homes for sale, and plenty of historic charm, Albuquerque has amenities to complement every lifestyle.

With over 22,000 acres of parkland, unique and interesting shopping, and picturesque scenery around every corner, what’s not to love?

Still in doubt? Here’s five key reasons why life is better in Albuquerque.

Some of the Cleanest Air in the U.S.

Sunflowers in the Albuquerque desert.Once you’re within city limits, you’ll be able to tell. Albuquerque has exceptionally high air quality, it’s obvious with every breath you take!

In fact, Albuquerque was ranked ninth in the nation for cleanest air, according to the American Lung Association.

Big-City Amenities with a Small Town Feel

Living in Albuquerque means having big-city amenities and small town charm right at your fingertips. Enjoy a wide variety of gourmet restaurants, exciting nightlife, and museums while still feeling a part of a tight-knit community.

Plus, traffic in Albuquerque is no big deal. It’s much calmer than the traffic of a major metropolitan area like L.A.

The International Balloon Fiesta

Row of hot air balloons on the ground.Because the weather in Albuquerque is regularly fantastic, it allows more time for exciting outdoor events throughout the year. Take, for example, the Albuquerque International Balloon Fiesta, also known as the largest hot air balloon fiesta in the world.

Every year, the skies of Albuquerque fill with gorgeous hot air balloons in every color imaginable. In addition to the balloons, the fiesta features a whole week of awesome events like laser light shows, chainsaw carving competitions, a rodeo, and live entertainment.

A Distinct Local Culture

Red chiles hanging from a post.New Mexican food is unlike any other.

People who live here long enough report feeling withdrawal-like symptoms when they leave, because you can’t food food like this anywhere else in the world.

Native American and Hispanic cultures blend seamlessly in Albuquerque, which you’ll see represented in historic places like Old Town, and even everyday mom & pop shops throughout the city.

Natural Outdoor beauty

Clouds rolling over the Sandia Mountains.Breathtaking mountain ranges, scenic desert vistas, and more are waiting in Albuquerque. The Sandias are one of the most beautiful mountain ranges in the world. Depending on the time of day, they are almost never the same color twice. Imagine living in a city that has such a gorgeous natural backdrop at all times!

Let Us Convince You

That Albuquerque is the best place to live. If you have any questions about life in Albuquerque, or the kind of homes for sale here, please reach out to us. We would love to connect you with even more resources about the area.

Do You Know What These Crucial Real Estate Acronyms Mean?

A man standing on a flat field and juggling apples.Acronyms are tossed around like crazy in the real estate world, which can be confusing to even the most veteran home buyers. But don’t worry — it doesn’t take long to learn the language.

Here’s a quick list of the most widely used home buying acronyms and what they actually mean. Of course, if you’d like to know even more real estate terminology, don’t hesitate to call us.

MLS: Multiple Listing Service

The multiple listing service is a massive database of available properties that is split up into hundreds of different regions. If you’ve ever heard someone refer to a home as “on the market,” it means that the home is available on the MLS.

Buyers can search for properties that are on the MLS by using a real estate agent’s website (like ours!), but that’s not the only way to find homes. Your agent can send you updates whenever new properties hit the market.

Want to get these email updates? Call us and we’ll set them up for you!

PITI: Principal, Interest, Taxes, and Insurance

A wooden cutout of a house standing next to three stacks of coins, each taller than the next and with a sprout growing out of the top.Principal, interest, taxes, and insurance are the four parts of a mortgage payment. Initially, you will pay more toward the interest on the mortgage, but you will start to pay off more of the principal (the initial loan amount) the longer you stay in your home.

Want to see the estimated PITI for your next loan? Check out our handy mortgage calculator on our website.

FHA: Federal Housing Administration

The Federal Housing Administration, or FHA, is a mortgage insurer that offers a variety of home buying assistance programs to help people purchase homes that they otherwise couldn’t afford.

FHA-insured loans generally offer more flexible credit qualifications and a lower down payment. However, borrowers are required to pay for mortgage insurance.

Interest rates and terms depend on the FHA-approved mortgage lender you choose.

PMI: Private Mortgage Insurance

Speaking of mortgage insurance, many lenders require you to have private mortgage insurance (PMI) if you can’t put 20% down on your home. This insurance protects the lender in case you can’t pay off your mortgage.

HOA: Homeowners Association

A community pool with orange inflatable innertube floating on top.Want to live in a community with a pool or clubhouse? Chances are you’re looking for a neighborhood with an HOA, or homeowners association.

An HOA is responsible for maintaining common areas and any amenities, and it typically sets standards for how homes should look in order to keep property values up. In some cases, homeowners associations may even include Internet, cable, and lawn care with their HOA dues.

If you’re considering buying a home in a neighborhood with an HOA, check the association’s CC&Rs — Covenants, Conditions, and Restrictions — to see what rules the HOA enforces.

We’ll Help You Speak the Language

Understanding real estate terminology is one of the best ways to start your research as a home buyer. Want to know the meanings of other commonly used terms? Give us a call!

Let’s Get Started

By giving us your phone number and email address, you are giving Susan & Alicia Feil permission to contact you via email or phone.