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DIY Upgrades That Make Your Home Sell for More

Spring is upon us, and with spring comes another anticipated time of year: home selling season. Traditionally, spring is one of the most popular times to list a home for sale. It’s also an excellent season for spring cleaning and trying out a few home-improvement projects on the weekends.

If you’re thinking about selling your property, or simply want to up its resale value down the road, take a look at our most recommended home improvement projects. Not only are these projects simple and affordable, they’re sure to increase your home’s overall value.

Two Key Places to Start Your Upgrades

Can you guess which two areas of a home are most important to buyers? The kitchen and bathrooms. This is because these are the rooms where people tend to spend a lot of time.

The Kitchen

Spacious open kitchen with wood floors.Oftentimes, the kitchen is the first place potential buyers rush to when they’re touring a home for sale. This room is considered the “heart of the home.”

While the idea of updating your kitchen can be scary (all those expensive new appliances!), improving this room doesn’t have to break the bank. There are many projects you can complete to upgrade your kitchen that cost less than $1,000.

These inexpensive kitchen improvements include:

Add a Tile Backsplash

This is a relatively affordable project, and if you’re handy enough, you can do it yourself. For a really easy option, purchase backsplash made from a single sheet of material.

Refresh Your Cabinetry

White cabinets in a large open kitchen.It’s as simple as switching out old handles and pulls, painting old cabinets, or replacing cabinet doors with glass-paneled ones.

Quick fixes like this can breathe new life into an older kitchen.

Install a Water Filtration System

While it may not add a whole lot of money to the selling price, this is one small detail that may win over potential buyers. They won’t need to spend extra grocery money on bottled water if they have a water filtration system built in.

The Bathroom

The second most popular room of the house is the bathroom.

If a spa-like renovation isn’t in the budget, don’t worry! There are plenty of ways to update your bathroom without spending thousands of dollars on repairs.

Update Fixtures

Swapping out old sink faucets, towel racks, and drawer pullers can make a huge difference in the bathroom’s overall appearance.

Re-do Caulk and Grout

Pristine white bathtub.Old grout can be quite unsightly, but it’s easy to fix!

Simply scrub the grout clean and add fresh lines of caulk around the tub and sink.

It might take a little elbow grease, but it’s inexpensive and can make your bathroom look cleaner and newer.

Save on Countertop Upgrades

Have your heart set on granite countertops? You can save money by buying a slab containing imperfections. Since the sink takes up most of the surface area, you may not even notice the imperfections!

Other Simple Fixes that Add Value to Your Home

Large home improvement projects aren’t the only way to add value to your property! There are a host of other small upgrades that can freshen up the rest of your home and increase its value to home buyers.

Add Some New Paint

Happy couple in dirty overalls sitting on the floor of a freshly painted room.Gather your friends and spend the weekend painting! Opt for high-quality paint with a satin finish. Don’t forget plenty of painter’s tape to protect moulding, fixtures, or light switches, as well as sheets to cover flooring.

Opt for neutral colors like slate gray and ivory, or popular colors like aqua and cool green. However, when it comes to selling a home, neutral colors are best.

Replace Old Light Fixtures

Dull, dim, or tarnished fixtures can make a room seem older and darker. Fortunately, upgrading lighting can be fairly simple. This could be anything from updating overhead lighting to replacing fluorescent bulbs. Bonus points for energy efficient features like LED bulbs! Opt for less expensive lighting if you need to hire an electrician.

Another easy lighting upgrade is replacing traditional light switches with dimmers.

Need More Recommendations for Upping Your Home Value?

We’ve got your back. We’d love to give you a list of home improvement projects that will get you the most bang for your buck. All you have to do is ask.

Give us a call today to get started.

How to Make a Wants Vs. Needs List for Your Home Search

It’s spring, which means home buying season has officially arrived! If you’re on the hunt for a new home, chances are you’ve already thought about the features you’d like to have.

However, one important part of searching for homes is making a distinction between your needs and your wants. Needs are amenities or features you can’t live without, while wants are things that you’d like to have (but they ultimately wouldn’t affect your home buying decision too much).

Two-story suburban home with a large garage and grey shutters.Ideally, you’ll want to come up with this list of needs (e.g. 3 bedrooms, under $200k, close to schools) and wants (e.g. fiber internet connection, stainless steel appliances, walk-in closets) before you start looking for homes. This will save you time along the way as you browse dozens, maybe hundreds, of homes online or in person.

Here’s a guide for distinguishing between your wants and needs:

Your Needs

To begin, come up with a list of priorities. What are some features or amenities that are non-negotiable? Do you need a home with a certain number of bedrooms? Maybe it has to be in a specific location — close to public transit, near a popular attraction, or within a local school district.

Write your priorities down on paper or in a smartphone app to better visualize what you need in a home. Here are some things to consider:

Lot Size

Small black and white dog sitting on a green lawn with a wooden fence behind him.How much outdoor space do you need? This is one feature than tends to be at the top of home buyers’ minds.

If you have a dog or two, you may want a large fenced-in yard so they have plenty of space to run around. You might also be interested in starting a garden, or perhaps you just like the extra space for peace and quiet.

Home Size

Your specific needs determine how much space you need in a home.

Do you anticipate any future changes in your household size? If so, you should think about how much space you may require to accommodate those changes. The larger your household, the more bedrooms and bathrooms you’ll need (unless you want to spend mornings waiting for your turn to shower).

You may also consider if you’d like to have a large basement or bonus room to turn into a game room or home theater. If you’re an avid hobbyist, you may need an additional room for your workshop.

Location

Man driving a car with his hands on the wheel.Think about where you currently live. Are you close enough to conveniences like grocery stores, local employers, or schools? Do you dread driving home in the afternoons because of bumper-to-bumper traffic?

Make a pros and cons list about your current location and base your new list off of the features you like or wish you had.

Budget

When you’re coming up with your list of needs, one of the most important factors to consider in your home search is your budget.

A great way to set your budget is by meeting with a lender to get pre-approved. During this process, the bank will go over all your financial information and let you know exactly how much they’re willing to lend you.

Your Wants

Spacious open living room filled with natural light.Once you narrow down your list of needs (the biggest of which is your budget), you should tackle your list of wants.

Try focusing on amenities or special features that will increase your property’s resale potential (for when you decide to sell down the road).

Value-boosting home features can include dual-pane windows, additional “flex” rooms (such as a finished basement or in-law suite), and LED lights or other energy-efficient features.

Not only can these amenities increase your quality of life, they’ll likely get you more money in the long run when you decide to sell.

Prioritizing Your Wants and Needs

Smiling couple looking at a computer researching their budget.It can be challenging to find a home that has everything you need, everything you want, and is still within your budget.

Ultimately, you should prepare to make compromises along the way. (Which is more important, having a spa-like master bathroom or living less than 10 minutes away from the grocery store?)

Here are a few tips you can follow:

  • Consider any additional costs of certain home features and amenities. For example, if you want a bigger yard, make sure you have enough time to take care of it or the means to hire someone to maintain it for you.
  • Don’t always choose the latest upgrades. A number of different factors determine the cost of a home. Amenities like granite countertops and whirlpool tubs are likely to increase the price tag.
  • Adjust your list if necessary. You may realize during your home search that what you thought was a need is actually just a want.

Last on Your Checklist: The Right Realtor

Using your wants and needs list, a good Realtor can create a personalized list of potential homes that meet all your criteria.

That’s where we come in. Allow us to use our unique home buying expertise to help you find the home that’s just right. Give us a call today to get started.

Staging Shortcuts That Sabotage Your Home Sale

Home staging is a major player in a home sale. How your home looks, feels, and even smells can influence buyers’ decisions, so it’s important to present your home in the best light.

Cleaning, decluttering, and rearranging furniture are essential to preparing your home for showings, but it can be tempting to take a few shortcuts to get your property on the market faster. Out of all the home staging shortcuts that can hinder your home sale, these you should avoid at all costs.

Keeping Your Interiors Too Dark

A dimly lit kitchen with tile floors, wood cabinets, and laminate countertops looking out onto a dimly lit dining area.Your property needs to shine on the market — don’t dim your home’s sparkle.

Natural light works wonders to maximize space, especially for small floor plans, so it’s important to let in as much sunlight as possible when staging your home.

Throw open the curtains, trim any shrubs blocking the windows, and polish the glass to welcome in the natural sunlight.

Painting All of Your Walls Bright, Bold Colors

Nothing stops home buyers in their tracks faster than loud paint colors that don’t match their personal style. After all, one buyer may prefer rich earthy reds while another may be drawn to calming blues and greens.

Instead of painting your walls in oranges, purples, and electric greens, opt for neutral tones like off-white or beige to appeal to as many home buyers as possible.

Painting All of Your Walls Neutral Colors

On the other hand, you can go too far with neutralizing your space. Remember, home buyers are likely looking at several different properties, so you need to make sure yours stands out — and that buyers can envision themselves living in your home.

An open concept living room with beige couches in the foreground and a modern kitchen in the background.Splashes of color here and there are enough to draw buyers’ eyes without distracting them from the overall look and feel of your home.

The trick is to find a balance between the bold and the neutral colors.

Need advice? We’re more than happy to provide some pointers.

Forgetting to Deodorize Your Home

Home buyers can fall in love with a property merely from the listing photos. But if a foul odor greets them at the front door, they won’t stick around for long.

It can be tricky to determine what your home smells like since you have lived in it for so long. But there are a few tricks you can use to ensure your home smells fresh and clean for each buyer who schedules a showing:

  • Open the windows to air out your home
  • Hire a professional to deep clean your home
  • Light candles with simple scents, such as orange or vanilla
  • Ask a friend or neighbor for honest feedback

We’re Happy to Share More Home Selling Resources

The whole goal of home staging is to present your property in the best light, both for listing photos and for potential buyers. If you have questions about what it takes to sell and market your home, give us a call and let’s chat.

Planning on Retiring in Your Albuquerque Dream Home? Read This First

If you’re well established in your career, you may already be thinking about retirement. If you’re nearing or have already reached it; we want to say congratulations! Retiring is an exciting part of life, one you’ve probably been looking forward to for a while.

Do you know where you’ll be retiring to? Ultimately, where you live out your retirement should complement the retirement lifestyle you want to have. Many retirees, as they advance in age, want to stay in their own home (instead of moving to an assisted living facility.)

This is called “aging in place.” It’s a wonderful option for homeowners who have the means to stay in their home. If you’d like to buy the perfect home to retire in, continue reading for some tips.

The Benefits to Aging in Place

In many cases, staying in your home as you age can be less expensive than moving to an assisted-living facility. Plus, you have the added comfort of being in the home you know. Your friends and community are still nearby to take an active part in your life.

If you’re planning on aging in place, here are four things to keep in mind as you search for your dream home.

Opt For a More Accessible Home

Single-story ranch style home.Whether it’s a cozy single-family home in an active adult community or a first-floor master bedroom in a ranch-style home, your retirement home should be easily accessible.

Explore your options by searching homes for sale in the Albuquerque area. There are a wide variety of housing options available here.

Keep Developing YourPlan

How thoroughly have you planned your retirement years? It’s not enough to make on plan and stick with it, you should evolve your plan as your situation changes.

If, you start to need more care as you age, your plan should change to reflect that.

Ensure Your Home is Safe

Living room with gray couch and blue pillows.Be sure the floors are easy to traverse, and free of clutter, and that everything is within easy reach in your dream home. Thoroughly check each room to be sure there aren’t any potential hazards.

As you get older, it’s also a good idea to install brighter outdoor lighting, secure handrails, and automatic hallway lights.

Work With an Experienced Realtor

When it comes to finding your dream “forever” home, you should work with a realtor who will prioritize your needs. Our mother-daughter team, The Feil Cabinet, is well experienced with buying and selling homes in Albuquerque for a variety of different people. Allow us to leverage our unique expertise to assist you in finding your dream home.

Get started today by searching for homes and looking at local neighborhoods. Please reach out to us if you have any questions, or simply need someone to chat with about your goals.

Finding Home in New Mexico: The 5 Best Neighborhoods in Albuquerque

Thinking of buying a home in Albuquerque but not sure which neighborhood is the right fit? Check out the top 5 neighborhoods in town to find your favorite and start searching for your dream home!

The Best Places to Live in Albuquerque

This city’s got a lot of great neighborhoods and communities, but in our opinion, there are a few that really stand out from the crowd. Here are our favorite five Albuquerque neighborhoods.

1. Albuquerque Country Club

best neighborhoods in albuquerque: albuquerque country clubAmazing amenities and unbeatable location make Albuquerque Country Club a local favorite. Spend a day on the 18-golf golf course. Enjoy some fishing at Tingley Beach. Visit the ABQ BioPark Zoo. Take a hike on the 16-mile Paseo Del Bosque Trail or explore the Albuquerque Botanical Gardens.

Plus, there’s a community junior Olympic pool, a fitness center, and tennis center. And with a location just minutes from Downtown, all the city’s best shopping, dining, attractions and entertainment are just minutes from home.

2. High Desert

best neighborhoods in albuquerque: high desert

Tucked into the rolling foothills of the sandia Mountains, High Desert homes boast some of the most breathtaking views in the city. An active HOA maintains the pristine natural beauty of the community and takes care of the upkeep of the neighborhood amenities, which include a community pool and spa. And though it’s quiet and secluded, High Desert is conveniently just minutes from shopping, dining, and the attractions of Downtown.

3. Ridgecrest

beautiful home for sale in ridgecrest, one of the best neighborhoods in albuquerqueIt’s not hard to see why Ridgecrest has been nicknamed “Parkland Circle”—the area is filled with grassy green lawns, lush parks, and breathtaking mountain views peeking through the trees. Just minutes from the University of New Mexico, Central Ave, and Old Town, Ridgecrest is a world of luxurious green living that’s still plenty convenient to the amenities, attractions, and opportunities of Downtown Albuquerque.

4. The North Valley

lush vineyard and farmland in the north valley, one of the best neighborhoods in albuquerqueFollowing along the Rio Grande, the North Valley is arguably one of the lushest and most beautiful neighborhoods in town, home to vineyards, farm fields, cottonwood trees, and even horse stables. Many of the area’s oldest homes—and families—are located in the North Valley, as well as some of its priciest homes and largest lots.

It’s also home to some fabulous amenities, like La Ladera Park, Raymond G. Sanchez Community Center, and Vernon’s Speakeasy. And despite its sense of rural beauty and seclusion, the North Valley is still convenient to main thoroughfares, allowing it to maintain a low 20 minute average commute.

5. Ventana Ranch

beautiful outdoor patio on a home for sale in albuquerqueThis stunning planned community of stained stucco homes, stone yards, and lush desert vegetation is less of a neighborhood and more of its own private world of attractions and amenities. It’s home to Central New Mexico Community College, local schools and parks, affordable housing, miles of multi-use paths, and even a community center featuring a fitness center, pool, and other amenities.

Ready to Find Your Perfect Home in Albuquerque?

Are you thinking of buying a home in Albuquerque? Then it’s time to contact The Feils. As your guides to all things lifestyle and real estate throughout the Albuquerque community, we’re here to help you explore the area, discover its beautiful neighborhoods, and find the perfect place to call home.

What’s Your Style? 5 Popular Architectural Styles to Consider for Your Dream Home

Dream homes around the country have one thing in common: amazing architecture. From Greek Revival to Modern, we’re breaking down the most popular architectural styles in America to help you discover your own dream home.

A two-story Greek Revival plantation home with tall columns, wrap-around porches, and a grassy lawn.

1. Greek Revival Homes

Popular during the 1820s, ’30s, and ’40s, Greek Revival takes inspiration from the ornate temples of ancient Greek cities.

In America, you’ll find this architectural style sprinkled in cities throughout the country. Picture the magnificent columns and symmetrical design of historic Southern plantation homes, monuments like the Lincoln Memorial, and the White House itself, and you’re thinking of Greek Revival.

This architectural style exudes elegance and sophistication, which is why Greek Revival is one of the most popular housing styles in the United States. Many Greek Revival homes feature:

  • neutral exterior colors, particularly white
  • gabled roofs with a cornice
  • tall columns, either fluted or smooth

The Painted Ladies in San Francisco, a row of tri-colored Victorian houses with the San Francisco skyline in the background.

2. Victorian Homes

Fans of Full House will instantly recognize these colorful Victorian homes in San Francisco. The Victorian architectural style made its debut in America during the reign of Queen Victoria in the 19th century, popping up in small towns and big cities alike.

Victorian homes are often asymmetrical and ornate, and they typically include some or all of the following features:

  • bright, bold exteriors instead of neutral tones
  • elaborate trim and rooflines
  • towers with pointed roofs
  • bay windows

Two Tudor-style buildings, the one on the left with black timber in a criss-cross pattern and the one on the right with red timber in a criss-cross pattern.

3. Tudor Homes

In the late 19th century and early 20th century, homes started to take on the look of medieval European castles and inns.

The Tudor, or Tudor Revival, style is best recognized by the decorative timbers on the exterior of the house, but homes with this architectural style also feature:

  • steep gabled roofs
  • dormer windows
  • large decorative chimneys

A two-story brick Colonial house with dormer windows on the roof and two brick chimneys flanking both sides of the house.

4. Colonial Revival Homes

Arguably the most popular architectural style in the United States, Colonial Revival first came on the scene between the 1880s and 1950s. Dutch Revival and Georgian Revival are considered subcategories of the Colonial Revival style.

Like Tudor homes, Colonials often feature dormer windows and gabled roofs, but they can also have:

  • simple rectangular windows
  • symmetrical exteriors
  • covered center entrances

Frank Lloyd Wright's Fallingwater House, a Modern three-story home with a stone chimney that is surrounded by trees.

5. Modern Homes

Also known as Mid-Century Modern, this architectural style was popular during the 1930s, ’40s, ’50s, and ’60s and valued simplicity over showy design. Frank Lloyd Wright’s Fallingwater House is a great example of this popular home style.

Since Modern houses were also designed as a way to connect with nature, these properties tend to feature:

  • open floor plans that flow to outdoor spaces
  • large windows and sliding glass doors
  • ranch or split-level layouts

No Matter Your Style, We Can Find Your Dream Home

Have your heart set on a certain architectural style? We’ll help you find (or build!) your dream home with the look and feel you want. Contact us and let’s talk.

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.

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.

 

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!