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Archives: January 2019

The Pros & Cons of a Buyer’s Letter: Standing Out in a Busy Market

Imagine, after weeks of searching, that you’ve finally found your dream home. It’s in the perfect location with the right features and exactly the amount of space you need. But after requesting more information, your agent informs you that there are already several offers made on the house. How do you stand out in a busy market and snag your dream home?

When buyers are looking to make a lasting impression on sellers, they often opt to submit a letter to the seller. In fact, a recent study found that buyers who submitted letters were 9% more likely to have their offer accepted.

A Buyer’s Letter can work both with you and against you, so it’s important to understand what they are and when you should use one.

What is a Buyer’s Letter?

A man typing on a laptopA Buyer’s Letter is pretty much what it sounds like — a letter written by the buyer for the seller in order to stand out in a busy market. The letter is your chance to make a case for why you should get the home over other buyers.

Many people opt to write about how they envision their lives in the home, how well they would take care of it, how much owning this specific home would mean to them, and similar sentiments.

You might also use this space to talk yourself up, bringing up steady finances, your down payment, and job security — things geared towards making the seller confident in choosing you.

Advantages of a Buyer’s Letter

A man and a woman shaking handsA Buyer’s Letter sets you apart from the crowd and makes you more than just an offer on a sheet of paper — it allows you to connect with the seller on a personal level. In a constantly growing and changing market, being able to stand out or connect puts you a big step ahead of other buyers.

Is the home close to a golf course? Does the seller have bikes in their garage? Are there signs of pets in the home? If you notice you have common interests, including them in the Buyer’s Letter can elevate your standing.

When you choose to forgo a Buyer’s Letter, you miss out on the chance to advocate for yourself, which can go a long way in the seller’s final decision.

Disadvantages of a Buyer’s Letter

A woman writing in a notebook. While there are plenty of pros to using a Buyer’s Letter, there are also pitfalls to consider. Making your case is great, but it does give the seller leverage. If you really love the house as much as you say, then what’s to stop the seller from raising the asking price?

Maybe the seller accepts your offer, and you move to the home inspection stage. If issues turn up, then the seller might refuse to make costly repairs, assuming that you’ll buy the house no matter what.

Another unexpected con of a buyer’s letter? It can be tricky for sellers to navigate around discrimination issues. If a seller picks a buyer of a certain race, religion, gender, or family status instead of another, they could face backlash. Be aware of this when writing your letter so as to not put the seller in an uncomfortable position.

Need Help Standing Out?

If you’re kicking off the home-buying process and need help standing out, we’ve got you covered. Get in touch with us today, and we’ll help you secure your dream home, and answer any and all of your questions in the process.

New Year, New & Improved Home Value

Happy 2019! What do you want to accomplish in the New Year? If you’re thinking seriously about selling your home this year, or just want to add some value to your property, then it’s time to make a game plan for 2019.

You don’t have to break the bank to build your home equity; there are a number of small, easy projects you can do to increase your home’s value. And bonus: they’re indoor-only, so you can get started right away!

Here are three DIY, cost-effective ways to add value to your home.

Update Your Kitchen

Light-filled kitchen with hanging light fixture.Kitchens and bathrooms sell homes. It’s just a fact. If you’re aiming to add value to your entire home, start with these areas.

In the kitchen, refinish wooden cabinets or use a faux-wood finish on non-wood cabinets to give them an updated look. You can also replace your sink with a trendy single-basin fit and sprayer nozzle, and upgrade your appliances to stainless-steel.

With just a few small updates, you can have your whole kitchen feeling brand new!

Give Your Bathroom a Facelift

New construction bathroom with a soaking tub and granite countertop.Let’s head to the bathroom. With a few small upgrades, you can have your entire bathroom feeling like new.

Consider installing a low-flush toilet, updating your faucets, updating your flooring, re-caulking your bathtub, and even replacing the vanity. Strike the perfect balance between energy-efficient upgrades and aesthetic finishes to create a space that’s peaceful, luxurious, and comfortable.

Bring Some Light Into Your Home

Chandelier light fixture.Consider replacing all the lights (and light switches) in your home for a more modern aesthetic. Swap out traditional light switches with dimmers, install wall-mounted lights in your bathroom for a more luxurious feel, and be sure you’re using high-wattage bulbs in every room.

Adding light to your home will instantly make it appear more open and spacious.

Planning to Sell Your Home in the New Year?

We can help with that. Give us a call to begin exploring your real estate options. We’d love to share some additional tips on how to add even more value to your home!

Dive in to Local Arts & Culture at the Latest Albuquerque Museum Exhibit

One of the benefits of living in a place like Albuquerque is the chance to learn about and experience a variety of cultures. The Albuquerque Museum strives to showcase works, pieces, and stories from a wide spectrum of people, and the latest exhibit is no exception.

Visions of the Hispanic World” has been on view at the museum since November 10th, 2018,  and it will stay on display until March 31st, 2019. Organized by the Hispanic Society of American and curated by the Executive Director Mitchell A. Codding, it’s truly a can’t-miss exhibit.

“Visions of the Hispanic World”

A woman at an art exhibitThe exhibit as a whole details the narrative of cultures in Spain and how their influence and heritage grew within the area and still does today. Over 220 works are included, covering 3,00 years of time and history. Some of the works have never even been exhibited before!

The pieces on display are all part of the Hispanic Society’s own Museum and Library collections, and will include things like archaeological artifacts from the Iberian Peninsula, art work from Islamic Spain, and manuscripts from a variety of ages, as well as sculptures, decorative arts, and paintings. The pieces date all the way back to the Medieval Age and stretch to the early 20th century.

The goal of the exhibit is to allow New Mexican residents to both observe the larger world culture, as well as see how their own region was influenced by the Hispanic world.

Part I

An ancient bustThe first part of the exhibit takes place November 10th through March 31st and will deal with the oldest works. The Ancient, Islamic, Medieval, Golden Age, Colonial, and 19th century Spain and Latin America will be showcased. Works from this periods will be by artists including El Greco, Velázquez, and Zubarán.

Part II

Part II will take place from December 22nd to March 31st. While it covers a significantly smaller period, – painter Francisco de Goya through the 1920s in Spain – it still offers a wealth of material. Often referred to as the father of modern art, Goya had an enormous impact on the artistic that still shows up today.

Visit the Exhibit

Since the exhibit is a special, limited-time feature at the Albuquerque Museum, visitors will have to pay an extra fee to gain admittance. Children under 12, however, don’t have to pay, and there is no charge during the museum’s free days.

Avoid the lines, and purchase your ticket ahead of time here!

Find Your Home in Albuquerque

Here in Albuquerque, we’re always ready to learn more about the people around us, and learn from others. So when you move here, you can expect to be welcomed with open arms into the tight-knit communities!

Are you looking to make the move to Albuquerque? The Feil Team is here to help! Feel free to contact us with any questions or to get started today.

Let’s Get Started

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