5 Steps For Adding Value to Your Older Home

Older homes that are well maintained can carry a higher value than newer homes, simply because they are fresh and unique. That additional value, however, can be negated if certain features are left old or outdated. Here are five simple and relatively inexpensive steps you can take to add value to an older home.

1. Update Fixtures and Appliances

Modern track lighting and sink fixtures provide a streamlined look to older and even vintage kitchens and baths. Appliances are not a major expense, but can really add a contemporary appeal to your older kitchen. They can be well worth the investment for interested buyers.

2. Install New Garage Doors

Modern garage doors come in a number of styles and finishes that can accentuate the style of your home. Some of the newer styles include frosted glass panels or rustic wooden doors with barn door fixtures which can provide a modern and charming accent to your home.

3. Refinish Wood Flooring

If you’re lucky enough to have vintage wooden flooring, stripping, sanding, and refinishing them will increase any home’s value significantly. If your home doesn’t have wood flooring, stripping up old, outdated carpet and installing bamboo flooring is not only inexpensive, but will provide a much more durable and easy-to-care finish. Bamboo flooring comes in a number of different styles and colors and is fairly easy to install.

4. Refinish Popcorn Ceilings

Removing your old popcorn ceiling is a fairly easy and inexpensive process, but does require furniture removal and quite a bit of elbow grease. Be aware that many popcorn ceilings applied before 1980 contain asbestos. If your home was built before 1980, you’ll need to have a small portion of the ceiling tested. If it contains more than 1% asbestos, you’ll need to have it professionally removed.

5. Install Energy Efficient Windows and Doors

Not only will these new fixtures add value to your home, but will also bring down your utility bills, which will add jingle to your pocket. Be sure to read my 8 Ways to Increase Energy Efficiency in Your Home and Saving the “Green” with a Home Energy Audit.

So, as you can see, increasing the value of your home doesn’t have to be a lengthy and expensive process. With some planning and dedication, you can greatly increase the value of your home!

What type of home would you like to make your next? Let me know in the comments below. And if you’re looking to buy your next home in metro Albuquerque, contact me today so I can help you find it!

Which of These 4 Basic Home Types is Your Favorite?

Before buying any home, you should always consider your medium- to long-term lifestyle needs. My Albuquerque home search page lets you drill down your search based on the types of home you’re interested in. However, if you’re not quite sure about the various types of homes, here’s an explanation of the four basic residential types in Albuquerque.

1. Single Family Homes (SFH), also known as detached homes, are built on a single lot, with no shared walls. You may find a garage, either attached or detached.

The upside is that you generally get more privacy in this type of home than the others, since SFH don’t share walls. Usually the largest type of home, SFH often get front and back yards. Likewise, they tend to have a more reliable resell value than the other home types.

However, the drawback is that you, the homeowner, are responsible for all maintenance work/costs.

2. Condominiums are single units within a larger building or community. The unit often shares walls with other units. Expect to pay typical monthly homeowners’ association (HOA) dues to maintain the common grounds and other amenities. Condos are usually conveniently located close to restaurants and retailers.

Those HOA fees means the convenience of no responsibility on the homeowner’s part to contribute to maintenance and upkeep. Amenities can be nice as well. Some condos offer fitness rooms, pools, and rec rooms.

Unfortunately, HOAs establish limitations on remodeling your condo. Because of common walls, there may be noise policies in place after certain hours. Further, you may find pet restrictions.

3. Townhomes are a cross between a condo and a single family home in features, and basically place in between in size. Often multiple-floored with shared walls, townhomes can have small yards or a rooftop deck.

Residents of townhomes often have more privacy than condos provide. Some even have HOAs. And they tend to be more less expensive than most single family homes.

Townhomes, however, don’t usually have the shared amenities that condos do. And they don’t generally offer the amount of privacy that SFH homes do.

4. Multi-family units comprise the smallest type of residencies. They’re often two residential units that have a common wall. Each unit typically has its own separate entrance. Multi-family units generally can’t be purchased individually; one owner owns the whole building.

Usually, people looking for multi-family units want an investment property. They can live in one unit, and rent out the other units. There are generally fewer people you’re sharing your building with, making it more private and quiet. You may also get some yard space.

Multi-family units, like townhomes, are a hybrid between a single family home and a condo. They’re fairly small and less private. If you’re renting, you’re paying maintenance to the landlord. If you own one as the landlord, you’re responsible for handling all maintenance costs, plus trying to find renters.

What type of home would you like to make your next? Let me know in the comments below.

And if you’re looking to buy your next home in metro Albuquerque, contact me today so I can help you find it!

7 Simple Steps for Modernizing Your Kitchen

Albuquerque Home KitchenThe kitchen, far too often, is the one room of the house that many homeowners “never get to” updating. But wouldn’t you really like your kitchen to look stylish and exciting? Then consider my 7 simple tips for modernizing your kitchen.

1Fit New Faucets

Believe it or not, faucets can completely change the look of a room. And buying beautiful ones won’t break the bank, either. The Moen Kleo Pull-Down kitchen faucet comes in a spot-resist stainless finish and resists fingerprints and water spots. It features Reflex, a hose system that operates easily, retracts smoothly, and sits securely.

2Suspend Pots and Pans

Instead of investing in brand-new cabinetry, try working with what you have. You can free up space by suspending your pots and pans from the ceiling. A pot rack adds style, makes everything easily accessible, and creates more cabinet space for other items.

3Update Cabinets

And speaking of cabinets, having pull-out shelves fitted in will help you avoid digging for those hard-to-reach items. Today’s kitchens are seeing less upper cabinets and more drawers rather than base cabinets. Because of this, pantry size will increase, along with the use of more ergonomic storage with practical accessories, such as plate racks, accessory drawers, pivoting pantry units, and corner drawers. It’s usually easy to retrofit your current layout with drawers to save money. As for hardware, among the most popular finishes today are nickel and oil-rubbed bronze. SA Baxter has some beautiful designs in both finishes.

4Enhance Lighting

Make sure you’ve got ample lighting for meal preparation. Instead of having one light in the center of the room, you can add more fitted lighting in various places on the ceiling. Curved track lighting in a stainless steel finish is still quite the rage in a lot of kitchens these days.

5Paint Kitchen Tile

Using a good primer is key. I recommend using Gripper primer by Glidden. This primer will stick to anything, including tile. Wait a day for the primer to set before painting. Decide the sheen you want to use. For the tile look, go with high-gloss paint. Otherwise, a less shiny sheen will be fine. For kitchen walls, most people use a satin finish since it’s very easy to clean. Use a foam roller. If you use high gloss paint, you’ll get a nice, glass-like finish.

6Lay Wooden Flooring

Wood floors are a great option if you’re looking for a modern flooring that is slightly softer underfoot. Wood floors come in a variety of colors and styles to match any decor and will add natural warmth to your kitchen. If you don’t want the maintenance of a natural wood floor but love the look, laminate may be the way to go. These floors are easy to install, maintain and clean, and like real wood, come in a variety of finishes. There’s green options, too, that are both beautiful and resilient. Both cork and bamboo flooring are made from renewable resources and provide a soft, warm flooring underfoot.

7Update Appliances

If you’re looking for an ultra modern kitchen, then the Sub-Zero line of luxury kitchen appliances will surely appeal. Ranging from built-in freezers and refrigerators to wine storage, the Sub-Zero line is 100% stainless steel. Wolf kitchen appliances will add a contemporary yet robust flair to your kitchen design. From gas and dual fuel ranges to electric appliances, Wolf kitchen appliances will give your kitchen space a beautiful, modern design.

Finally, modern kitchens are very minimalistic; they don’t have a lot of extras stuffed into them. Multi-purpose, smart designs are today’s kitchens. This extends to small appliances, bar stools, and countertops. These items will finish off your modern kitchen without leaving it looking crowded and uninviting.

If you’re looking to buy or sell a house in the Albuquerque area, contact me today!

5 Easy Ways to Maximize Your Dining Area

home dining roomYour dining room is one of the most important places in your home where your family gathers to share meals and quality time together. As such, it should be a comfortable area where family and friends can relax and enjoy themselves. If your dining room feels cramped though, your family may be tempted to go elsewhere for dining and entertainment. Don’t let that happen! Instead, take to heart my five easy ways to maximize your dining area space in style and comfort.

1Use a Round Table. Despite the traditional styling of a rectangular table, you can actually maximize your dining area by using a circular one. By freeing up floor space, you’ll be able to fit in an extra seat or two. A round table with a pedestal base allows you to compactly slip any chairs underneath the table top when not needed.

2Choose Chairs Without Armrests. The widths of your chairs will no doubt affect the roominess of your dining area. Avoid armrests and go with delicate designs. A common color strategy is to use dark colors that contrast with lighter surroundings to accentuate the walls and make the room appear larger. Ideally, a slim-line design in a strong hue can make your dining room seem more spacious.

3Add Mirrors. The reflection of mirrors is the best way to enhance the perception of roominess. Seeing twice the room will subconsciously make you feel that you’re in a larger dining room. Mirrors give a great illusion of extra space, and are quite affordable, too.

4Add Glass Doors. Installing glass doors provides an easy way to keep the dining room enclosed without creating a feeling of crampedness. Using the principle of mirrors above, glass doors can also make your dining area appear larger and brighter as you allow more light in.

5Create Multi-Use Functionality. Your dining room can be used for more than just housing a table and chairs; it can have other uses as well. Perhaps opening this space up to a neighboring bar or an open kitchen pass-through, will allow you to get more use and space out of your dining area. Combining purposes together can free up your dining environment. With a bit of thought, you’ll be amazed at how much more you can do with your dining area space!

If you’re looking to buy or sell a house in the Albuquerque area, contact me today!

Sorting Through the Home Loans

home-financesConfused about the different loan types out there? Here’s a quick, “at-your-fingertips” post to help you sort it all out.

Conventional

A conventional home loan is one that is not insured or guaranteed by the federal government. This is the most common mortgage option and usually has the best interest rates.

Down Payments: 10%
More Financing Options
Good Credit Score

FHA

FHA loans are mortgages insured by the Federal Housing Administration. Makes ownership more affordable with less down and easier credit requirements.

Low Down Payment Down – 3.5%
Low Payments
Low Credit Score

VA

Veterans Administration loans are for qualifying veterans, active military and military families.

No Down Payment
Low Payments
No Private Mortgage Insurance (PMI)

USDA

United States Department of Agriculture (USDA) loans are designed to help low- or moderate-income people buy, repair or renovate a home in rural areas. Some suburban areas qualify, too.

No Down Payment
Low Payments
Good Credit Score

Questions? When you feel ready to speak to a lender about getting pre-qualified for your new home, contact one of my professional mortgage brokers. And if you have questions about selling or buying a home in metro Albuquerque, be sure to contact me today!

5 Tips to Help Home Sellers Maximize Their Sales Price

ABQ Home SellingIn recent times, it seems that more homeowners than ever are thinking about jumping into the real estate market. But before you commit to taking that leap, you should consider my 5 tips to help home sellers maximize their sales price:

1Sell Your Home in the mid-Spring to mid-Summer..
Generally, nicer weather brings out more buyers. Lawns and landscaping are at their peak, making your home look its best, and helping you get a higher sales price compared to listing later in the year.

2Go with an Agent Who Uses a Professional Photographer.
Sellers who provide stunning, high-resolution photos in their listings can expect a sales price closer to the listing price. Professional photos help listings get more web views, and they increase the perceived value of a home by nearly 13 percent, according to a consumer survey by VHT.

3Demand Your Agent Post a Video of Your Home on YouTube (and other social media sites).
More than 80 percent of all buyers find their homes online, and 21 percent look for online videos or photos. Besides social media sites like Facebook, Twitter, and Google+. there are a plethora of home listing sites, including: Alibi, Backpage, Craigslist, Frontdoor, Geebo, HotPads, Listhub, Oodle, Postlets, Trulia, Vast, VFlyer, Zillow, and Zimbio –just to name a few.

4Use Floor Plans in Your Listing.
Interactive floor plans that show how rooms relate to each other are an increasingly popular marketing tool. This helps buyers envision how to use the rooms. The combination of floor plans and professionally-taken photos creates the ultimate shopping experience for buyers.

5De-Clutter!
Your house will show better if it’s clean and well-organized. Potential buyers are interested in buying your home, not your furnishings. So depersonalize your house! Eliminate piles of paperwork, books, houseplants, and photos. Make sure everything sparkles and smells fresh! Beds should be made and dishes done before you leave the house in the morning. After all, interested buyers might stop by on short notice. It’s amazing how much better your home can look with a fresh coat of paint and how much value it can add, for so little cost. You don’t have to repaint everything, but do consider freshening up the rooms that need it the most. Use neutral colors inside. Outside, a gallon of paint on exterior trim, wooden stairs and banisters can do wonders for your home’s appearance.

By taking just a few proactive steps in homeselling, you can do your best to encourage multi-offer buyer situations in no time at all!

If you’re looking to buy or sell a house in the Albuquerque area, contact me today!

Albuquerque Home Market Report July 2016

ABQ home comparablesAcademy West Home Sales for July
Closed Sales: 22
Average Sales Price: $237,377
DOM: 33
Average Price increased 11.80% from the previous year.
The closed sales increased 22.20%.
The Average Days on Market decreased 13.20%.

See the most up-to-date list of Academy West Homes for Sale.

Greater Albuquerque Metro Home Sales for July
Closed Sales: 1060
Average Sales Price: $226,192
DOM: 48
Average Price increased 6.80% from the previous year.
The closed sales increased 0.20%.
The Average Days on Market decreased 20.00%.

Be sure to read the full Albuquerque home market report.

To find out what your home is worth, contact me for a Complimentary
Comparative Market Analysis.

If you’re looking to buy or sell a home in Academy West or anywhere else in the Greater Albuquerque Metro, be sure to contact me today!

SOURCE: Greater Albuquerque Association of REALTORS®. Based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.

The Top 15 Design Features That Buyers Like

Home Sold ABQZillow Digs screened over 2 million listings for homes sold between January 2014 and March 2016 and looked for the keywords that had the best effect on how much over the expected price homes sold for and how much faster they sold.

Apparently, Buyers are wild about barn doors and farmhouse sinks! Here are the top 15 design features:

1. Outdoor kitchen
Percent of homes that sell for above expected values: 3.7 percent
How many days faster than expected the home sells: 19
Most common metro: Tampa, Florida

2. Tankless water heater
Percent of homes that sell for above expected values: 4 percent
How many days faster than expected the home sells: 43
Most common metro: Los Angeles, California

3. Backsplash
Percent of homes that sell for above expected values: 4.1 percent
How many days faster than expected the home sells: 46
Most common metro: Philadelphia, Pennsylvania

4. Granite
Percent of homes that sell for above expected values: 4.1 percent
How many days faster than expected the home sells: 38
Most common metro: Dallas, Texas

5. Stainless steel
Percent of homes that sell for above expected values: 4.2 percent
How many days faster than expected the home sells: 42
Most common metro: Chicago, Illinois

6. Heated floors
Percent of homes that sell for above expected values: 4.3 percent
How many days faster than expected the home sells: 28
Most common metro: Seattle, Washington

7. Frameless shower
Percent of homes that sell for above expected values: 4.6 percent
How many days faster than expected the home sells: 38
Most common metro: Dallas, Texas

8. Pendant light
Percent of homes that sell for above expected values: 4.6 percent
How many days faster than expected the home sells: 48
Most common metro: Phoenix, Arizona

9. Exposed brick
Percent of homes that sell for above expected values: 4.9 percent
How many days faster than expected the home sells: 36
Most common metro: New York, New York

10. Craftsman
Percent of homes that sell for above expected values: 5.4 percent
How many days faster than expected the home sells: 14
Most common metro: Seattle, Washington

11. Quartz
Percent of homes that sell for above expected values: 6 percent
How many days faster than expected the home sells: 50
Most common metro: Los Angeles, California

12. Subway tile
Percent of homes that sell for above expected values: 6.9 percent
How many days faster than expected the home sells: 63
Most common metro: Philadelphia, Pennsylvania

13. Farmhouse sink
Percent of homes that sell for above expected values: 7.9 percent
How many days faster than expected the home sells: 58
Most common metro: Los Angeles, California

14. Shaker cabinet
Percent of homes that sell for above expected values: 9.6 percent
How many days faster than expected the home sells: 45
Most common metro: Los Angeles, California

15. Barn door
Percent of homes that sell for above expected values: 13.4 percent
How many days faster than expected the home sells: 57
Most common metro: Phoenix, Arizona

What are your must-have features? Leave them in the comments below! And if you have any questions about selling or buying a home in metro Albuquerque, be sure to contact me today!

Albuquerque Home Market Report June 2016

ABQ home comparables

Albuquerque Home Sales for June

Closed Sales: 739
Average Sales Price: $245,315
DOM: 40
Average Price increased 4.30% from the previous year.
The closed sales increased 6.64%.
The Average Days on Market decreased 21.57.

Rio Rancho Home Sales for June

Closed Sales: 196
Average Sales Price: $197,575
DOM: 47
Average Price increased 2.88% from the previous year.
The closed sales increased 15.98%.
The Average Days on Market decreased 14.55%.

Be sure to read the full Albuquerque home market report.

To find out what your home is worth, contact me for a Complimentary
Comparative Market Analysis.

SOURCE: Greater Albuquerque Association of REALTORS®.

Based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.