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Fiestas de Albuquerque

by The Schnoor Team

Presented By: City of Albuquerque, Cultural Services
Dates: April 6, 2019
Location: Historic Old Town
Address: 200 N Plaza St. NW, Albuquerque, NM 87104
Phone: 505-768-3556
Time: 12:00 PM to 5:00 PM
Price: Free

 

 

 

 

 

 

 

 

 

Celebrate Albuquerque's birthday and enjoy the history and traditions of our city with free children's activities, live artist demonstrations, local food, shopping, and fun for the whole family. Fiestas de Albuquerque will feature live entertainment performed by a variety of local talent including headliner, Gonzalo.

Source: "Fiestas de Albuquerque"

What You Need to Know Before Accepting — or Rejecting — an Offer

by The Schnoor Team

It’s not always about the money (except when it is).

The day will come — and it will be a wonderful, joyous, do-a-happy-dance day — when you receive an offer, or multiple offers, for your home.

And on that day, you’re going to face a question you may not have previously considered: How do you know if an offer is the best one for you?

Your listing agent will be a big help here. They will understand and help you suss out the merits and faults of an offer because — believe it or not — it’s not always about price.

One buyer’s beautifully high offer might not look so good anymore, for example, if you discover that it’s contingent upon you moving out a month earlier than planned. Or, conversely, you may prefer speed over price, particularly if you’re moving to a new city.

Your listing agent will have a sense  of what you want financially and personally — and can help you determine whether the offer at hand satisfies those goals.

Before the first offer rolls in, here’s what you need to know about the offer evaluation process, including the main factors that should go into making a decision — accept or reject? — with your agent.

5 Important Things — Other Than Price — to Consider When Evaluating an Offer

Want to fetch top dollar for your home and walk away with as much money in your pocket as possible? Of course you do. You’ve gone through the time-consuming process of setting your asking price, staging your home, promoting your listing, and preparing for open house-  and should be rewarded for your efforts.

Your first instinct may be to just pick the highest bid on the table. But the offer price isn’t the only thing worth considering.

When vetting offers, evaluate these five areas in addition to price:

1. The earnest money deposit. One important consideration when weighing an offer is the size of the earnest money deposit. The EMD is the sum of cash the buyer is offering to fork over when the sales agreement is signed to show the person is serious (i.e., “earnest”) about buying your home. This money, which is typically held by a title company, will go toward the buyer’s down payment at closing.

A standard EMD is 1% to 3% of the cost of the home (so, that would be $2,000 to $6,000 on a $200,000 house). If a buyer tries to back out of an offer for no good reason, the seller typically keeps the EMD. Therefore, the higher the earnest money, the stronger the offer.

2. The contingencies. Most offers have contingencies — provisions that must be met for the transaction to go through, or the buyer is entitled to walk away from the deal with their earnest money. Contracts with fewer contingencies are more likely to reach closing, and in a timely fashion. 

Here are five of the most common contingencies:

  • Home inspection contingency. This gives the buyer the right to have the home professionally inspected and request repairs by a certain date — typically within five to seven days of the purchase agreement being signed. Depending on where you live, you may be required to make home repairs for structural defects, building code violations, or safety issues. Most repair requests are negotiable, though, so you have the option to haggle over which fixes you’re willing to make.
  • Appraisal contingency. For a mortgage lender to approve a home buyer’s loan, the home must pass appraisal — a process during which the property’s value is assessed by a neutral third party. The appraisal verifies that the home is worth at least enough money to cover the price of the mortgage. (In the event the buyer can’t make their mortgage payments, the lender can foreclose on the home and sell the property to recoup all — or at least some — of its costs.) Generally, the home buyer is responsible for paying for the appraisal, which typically takes place within 14 days of the sales contract being signed.
  • Financing contingency. Also called a loan contingency or mortgage contingency, a financing contingency protects the buyer in the event their lender doesn’t approve their mortgage. Although the timeframe for financing contingencies can vary, mortgage lenders report that buyers generally have about 21 days to obtain mortgage approval.
  • Sale of current home contingency. Depending on the buyer’s financial situation, their offer may be contingent on the sale of their home. Usually, buyers have a window of 30 to 90 days to sell their house before the sales agreement is voided. This contingency puts you, the seller, at a disadvantage because you can’t control whether the buyer sells their house in time.
  • Title contingency. Before approving a mortgage, a lender will require the borrower to “clear title” — a process in which the buyer’s title company reviews any potential easements or agreements that are on public record. This ensures the buyer is becoming the rightful owner of the property and the lender is protected from ownership claims over liens, fraudulent claims from previous owners, clerical problems in courthouse documents, or forged signatures.


These contingencies are standard for most real estate sales contracts. There’s one exception: the sale of current home contingency, which tends to be used more often in strong buyer’s markets, when buyers have greater leverage over sellers.

That being said, contingencies are always negotiable. (The caveat: Mortgage lenders require borrowers to have appraisal financing contingencies, or they won’t approve the loan.) It’s up to you to decide what you’re comfortable agreeing to, and your agent can help you make that decision.

3. The down payment. Depending on the type of mortgage, the buyer must make a down payment on the house — and the size of that down payment can affect the strength of the offer. In most cases, a buyer’s down payment amount is related to the home loan they’re taking out. Your chief concern as a seller, of course, is for the transaction to close — and for that to happen, the buyer’s mortgage has be approved.

Generally, a larger down payment signals the buyer’s financial wherewithal to complete the sale. The average down payment, according to the NATIONAL ASSOCIATION OF REALTORS®, is 10%. Some mortgage products, such as FHA and VA loans, allow for even lower down payments.

If, by chance, the appraisal comes in higher than your contract’s sale price, the buyer with a higher down payment would more likely be able to cover the difference with the large amount of cash they have available.

4. The all-cash offer. The more cash the buyer plunks down, the more likely the lender is to approve their loan. That’s why an all-cash offer is ideal for both parties. The buyer doesn’t have to fulfill an appraisal contingency — whereby their lender has the home appraised to make sure the property value is large enough to cover the mortgage — or a financing contingency, which requires buyers to obtain mortgage approval within a certain number of days. As always, having a sales contract with fewer contingencies means there are fewer ways for the deal to fall through.

5. The closing date. Settlement, or “closing,” is the day when both parties sign the final paperwork and make the sale official. Typically, the whole process — from accepting an offer to closing — takes between 30 and 60 days; however, the average closing time is 42 days, according to a report from mortgage software company Ellie Mae.

Three days before closing, the buyer receives a closing disclosure from the lender, which he compares with the loan estimate he received when he applied for the loan. If there are material differences between the buyer’s loan estimate and closing disclosure, the closing can’t happen until those amounts are reviewed and approved. But this is rare.

Some transactions can take more time, depending on the buyer’s financing. For example, the average closing time for a Federal Housing Administration (FHA) loan is 43 days, according to Ellie Mae.

Whether you want a slow or quick settlement will depend on your circumstances. If you’ve already purchased your next home, for instance, you probably want to close as soon as possible. On the other hand, you may want a longer closing period — say, 60 days — if you need the proceeds from the sale to purchase your new home.

When Should You Make a Counteroffer?

Depending on the circumstances, you may be in the position to make a counteroffer. But every transaction is different, based on the particular market conditions and your home. In some circumstances, you can be gutsy with your counteroffer. In others, it might serve your goals better to give in to the buyer’s demands. Your agent can provide helpful insight about when and why a counteroffer will be the right thing for you.

For instance: If you’re in a seller’s market — meaning that homes are selling quickly and for more than the asking prices — and you received multiple offers, your agent may recommend you counteroffer with an amount higher than you would have in a buyer’s market.

If you choose to write a counteroffer your agent will negotiate on your behalf, to make sure you get the best deal for you.

A caveat: In many states sellers can’t legally make a counteroffer to more than one buyer at the same time, since they’re obligated to sign a purchase agreement if a buyer accepts the new offer.

When Does an Offer Become a Contract?

In a nutshell, a deal is under contract when the buyer’s offer (or seller’s counteroffer) is agreed upon and signed by both parties. At that point, the clock starts ticking for the home buyer’s contingencies — and for the sweet moment when the cash — and home — is yours.

Source: "What You Need to Know Before Accepting — or Rejecting — an Offer"

 

Do’s and Don’ts of Flooring

by The Schnoor Team

What to consider — from durability to style — for what’s under foot.

So many flooring choices, so little time to research which looks good, feels good, and lasts.

No worries. We’ve sorted it out for you with a handy do’s and don’ts list.

Style

DO: Consider your home’s layout. Got an open floor plan? Using the same flooring throughout the space will create a clean, continuous appearance.

DON’T: Forget about your home’s architectural integrity. By all means, make your home a reflection of your personal style. (Get inspired by these super-cool  floor ideas.) Just keep in mind that staying true to your home’s innate style will pay off when it’s time to sell.

Tip: Hardwood floors are the goof-proof option.

  • Hardwood is a win-win when it comes to architectural style. It’s equally at home in both classic and contemporary abodes. You and your eventual buyers will never regret the choice.
  • It’s practical and beautiful; hardwood is strong enough for kitchen duty, but adds a homey and classic touch.

Durability

DO: Keep your local climate in mind. Damp and humid weather can shorten a floor’s lifespan. For instance, hardwood can warp.

DON’T: Underestimate wear and tear depending on where you’re planning to install new flooring. Drop a glass jar on ceramic tile and it’ll chip; heavy foot traffic will beat up pretty plush carpeting.

Tip: Properly sealed, concrete floors are a tough and good-looking choice.

  • Concrete resists water, stains, smells, and scratches. It also won’t harbor mold or mildew.
  • It can take a pounding, so no worries there about daily wear and tear.
  • It packs an energy-saving benefit since concrete floors can retain your home’s heating and cooling.
  • The icing on the cake? It can be painted to look like wood or tile.

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Comfort and Air Quality

DO: Consider comfortable flooring materials, especially in rooms where you spend a lot of time standing, such as the kitchen, and if you have small children or plan to age in place.

DON’T: Contribute to household air pollution. Both traditional vinyl flooring and newly installed carpets can emit high levels of VOCs for up to 72 hours.

Tip: Cork hits the comfort and environmental-friendly trifecta.

  • It’s a treat for feet (think kitchens) and can soften the blow when little ones fall (think basements, family rooms, kids’ rooms) thanks to microscopic air pockets that give the material its cushiness.
  • Cork is great for indoor health. It won’t hold on to dust and pollen and resists nasties like bacteria and fungi. When it comes to VOCs, go with low- or no-formaldehyde content and avoid cork-vinyl composites. How do you do that? Look for cork flooring products that are either Floorscore or Greenguard certified, or that qualify for a LEED point for low-emitting materials. Also, if you’re using a sealer or an adhesive select a low- or no-VOC product.
  • It’s sustainably harvested. Cork flooring is made from cork oak bark. Since the bark grows back, the tree is left standing.

Tip: You’ll want to seal cork every few years to help protect it from any standing water; it’s water resistant but not waterproof.

DO: Add carpet. It’s great for maximizing comfort, and it can cost much less than other types of flooring. For a 12-foot-by-12-foot room, you could expect to pay about $1,580 to $3,190 in materials and labor for hardwood versus $335 to $700 for carpet.

New fiber technologies have made carpet more durable (think longer wear and superior color-fastness), stain resistant, and even eco-friendly (some carpets are made from recycled materials, like plastic bottles, and natural fibers). The key is picking and maintaining the right carpet for your home and lifestyle. For example, a dense carpet with a short pile height (half an inch or less) is best for high-traffic areas.

DON’T: Think carpet is off the table because you have allergies.  Several studies suggest that carpet doesn’t cause allergies or make asthma worse.

  • Since carpet traps particulates, like dust and dander, it can act as a filter and bring relief to some people, according to a recent Spanish study.
  • Frequent vacuuming, using a doormat to eliminate the amount of dirt that comes into your home, and a yearly deep cleaning can keep your carpet in good shape for years to come while retaining good air quality.

​​Source: "Do’s and Don’ts of Flooring"

 

Renting Out Your Home? Get Landlord Insurance

by The Schnoor Team

If you’re renting out your home, it might not be covered by home owners insurance, so look into landlord insurance instead.

Maybe you’re moving up to a bigger home and holding on to your former residence as a rental property. Or maybe you’ve tried to sell your home without success. Whatever the reason, if you’re thinking about renting out your home, you need to look into landlord insurance.

Homeowners insurance covers your house if it burns down, your possessions if there’s a break-in, and medical and legal bills if someone gets hurt on your property. Problem is, homeowners insurance might not offer protection if you decide to rent out your home. Landlord insurance does. Set aside half a day to research policies.

Renting Out Your Home Raises Risks

Homeowners insurance typically covers owner-occupied, single-family residences, says John W. Saunders, president of Slemp Brant Saunders, an independent insurance brokerage in Marion, Va. When your home doesn’t meet that definition because it’s being rented out regularly, it’s no longer covered.

Most homeowners policies will cover an occasional short-term rental if, say, you’re going away for a few weeks, says Dave Millar, a partner at Riley Insurance Agency in Brunswick, Me. “But if you have a summer home you’ve decided to use as an income property and are putting different people in there every week,” he explains, “that’s a lot higher risk for the insurance company.”

The risk is also higher for both you and your insurer when you rent out your home on a full-time basis. You have an increased responsibility for injuries on the property, whether to your tenants or your tenants’ guests, says Bob O’Brien, vice president of Noyes Hall & Allen Insurance in South Portland, Me.

Insurers also experience more claims on tenant-occupied properties because tenants typically don’t care for properties as well as owners would. Renters are less likely to either identify or report maintenance needs, says O’Brien, and may be unfamiliar with a home’s systems like the location of the water shut-off.

Look Into Landlord Insurance

When you decide to become a landlord, inform your insurer and ask about a specific landlord insurance policy, sometimes known as a dwelling fire policy or special perils policy. Coverage from a basic landlord policy isn’t quite as broad as a homeowners policy, says O’Brien, but it includes big risks like fire, wind, theft, and ice damage.

There are several levels of dwelling fire policies: DP-1, DP-2, and DP-3. The higher the number, the better the coverage. “A DP-3 policy might provide replacement cost on the house and theft of contents coverage for your belongings,” says Millar.

Expect to pay 15% to 20% more for landlord insurance than you did for homeowners insurance. In recent years the average cost of homeowners insurance was $822 a year. Tack on 20%, and that would put the average annual premium on landlord insurance at about $986.

A landlord policy covering a one-year rental for a home in Maine insured for $370,000 and personal property for $10,000 would cost $1,170, for example, says Millar. Expect to pay even more if you allow short-term rentals. The same insurance for the home if rented by the week for 12 weeks during a year would be $2,170.

Other Insurance Policies to Consider

Landlord insurance typically covers the house itself, other structures on the property such as sheds, the owner’s possessions (but not the tenant’s possessions), lost rental income if the house is damaged and uninhabitable, and some liability protection for the owner in case of injury or a lawsuit. Policies vary, however, so read the fine print. If lost rental income isn’t included, you might be able to add the coverage for an additional $50 a year, says Saunders.

Also consider an umbrella policy, that provides additional liability protection beyond the limits of your landlord policy. “If you’re talking about owning more than one house, and your net worth is starting to build up, then you should consider an umbrella policy,” says O’Brien. You can usually get an additional $1 million worth of liability coverage for $250 to $300 a year.

Finally, O’Brien advises that you require tenants to buy renters insurance that protects their own property. Remember, landlord insurance only covers the owner’s property. In recent years, the average cost of renters insurance has run $182 annually.

Source: "Renting Out Your Home? Get Landlord Insurance"

10 Clever Uses for Hydrogen Peroxide

by The Schnoor Team

Non-toxic. Low-cost. Hydrogen peroxide is your cleaning arsenal’s secret weapon.

When it’s time to clean, have your trusty green cleaners at the ready — baking soda, vinegar — plus another ultra-cheap gem: hydrogen peroxide. You can use it anywhere, and can’t beat the price: A 16-oz. bottle only costs a buck or so.

Here are 10 ways you can use that ubiquitous brown bottle of 3% hydrogen peroxide to your home’s advantage:

In Your Kitchen

1. Clean your cutting board and countertop. Hydrogen peroxide bubbles away any nasties left after preparing meat or fish for dinner. Add hydrogen peroxide to an opaque spray bottle — exposure to light kills its effectiveness — and spray on your surfaces. Let everything bubble for a few minutes, then scrub and rinse clean.

2. Wipe out your refrigerator and dishwasher. Because it’s non-toxic, hydrogen peroxide is great for cleaning places that store food and dishes. Just spray the appliance outside and in, let the solution sit for a few minutes, then wipe clean.

3. Clean your sponges. Soak them for 10 minutes in a 50/50 mixture of hydrogen peroxide and warm water in a shallow dish. Rinse the sponges thoroughly afterward.

4. Remove baked-on crud from pots and pans. Combine hydrogen peroxide with enough baking soda to make a paste, then rub onto the dirty pan and let it sit for a while. Come back later with a scrubby sponge and some warm water, and the baked-on stains will lift right off.

In Your Bathroom

5. Whiten bathtub grout. If excess moisture has left your tub grout dingy, first dry the tub thoroughly, then spray it liberally with hydrogen peroxide. Let it sit for a little while (it may bubble slightly), then come back and scrub the grout with an old toothbrush. You may have to repeat the process a few times, depending on how much mildew you have, but eventually your grout will be white again.

6. Clean the toilet bowl. Pour half a cup of hydrogen peroxide into the toilet bowl, let stand for 20 minutes, then scrub clean.

In Your Laundry Room

7. Remove stains from clothing, curtains, and tablecloths. Hydrogen peroxide can be used as a pre-treater for stains — just soak the stain for a little while in 3% hydrogen peroxide before tossing into the laundry. You can also add a cup of peroxide to a regular load of whites to boost brightness. It’s a green alternative to bleach, and works just as well.

Anywhere in Your House

8. Brighten dingy floors. Combine half a cup of hydrogen peroxide with one gallon of hot water, then go to town on your flooring. Because it’s so mild, it’s safe for any floor type, and there’s no need to rinse.

9. Clean kids’ toys and play areas. Hydrogen peroxide is a safe cleaner to use around kids, or anyone with respiratory problems, because it’s not a lung irritant. Fill an opaque spray bottle with hydrogen peroxide and spray toys, toy boxes, doorknobs, and anything else your kids touch on a regular basis. You could also soak a rag in peroxide to make a wipe.

Outside

10. Help out your plants. To ward off fungus, add a little hydrogen peroxide to your spray bottle the next time you’re spritzing plants. Use a 1/2 cup of hydrogen peroxide added to one gallon of water for your plants.

Source: "10 Clever Uses for Hydrogen Peroxide"

In Defense of Having a (Slightly) Cluttered Home

by The Schnoor Team

A messy environment is actually good for your psyche.

Breaking news: Humans like stuff. Stuff they have. Stuff they like. Stuff they need.

But stuff just gets everywhere. Hence the trendiness of uber-organized spaces, hyper-cleanliness, and Marie Kondo-like thank-your-stuff-for-its-service-then-toss-it attitudes. But living in that state of constant tidying is exhausting.

Enough.

It is not a moral failing to have a slightly cluttered home.

And you know what? Life can be better with slightly more stuff. Here are seven reasons why:

#1 A Messy Environment Is a More Creative One

Being too tidy will stifle your imagination. Science says so.

There’s a lot of research showing messy surroundings encourage you to break the rules of convention and think more freely, while a highly ordered house stifles you.

We’re not talking rooms full of empty cat food cans and closets crammed with so much crap you can’t open the door. We’re talking about a comfortable amount of disorder.

If you’re not convinced disarray fuels creativity, Google “Einstein’s office.” He dreamed up the theory of relativity in a room that would give Marie Kondo a heart attack.

If you share your home, chat with your partner and agree on the line between creativity-inducing clutter and chaos. Are the piles of “Architectural Digest” genius fuel, or a sign you’re a hoarder? Discuss.

#2 A Perfectly Tidy Home Isn't a Sign of a Happy Home

Your obituary won’t mention how tidy your house was (unless you’re Martha), so why dedicate your life to cleaning it?

“Your home will never be 100% clean and organized and lived in at the same time,” says Becky Rapinchuk, author of “Simply Clean.”

You want to focus on living in your home, keeping it functional and enjoyable — not perfect.

She recommends doing one task each day: Clean bathrooms Monday, dust on Tuesdays — you get it.

This allows you time to do the things that remind you why you bought your house, from porch swinging to reading-nook sitting. “Don’t spend more than 30 minutes a day on each task,” Rapinchuk says.

“If you don’t get it done, save it until next week. It’s just dirt.”

#3 A Little Dirt Is Good for You

People with super-clean houses have bleached and scrubbed all the microbes out of their house. But some of those microbes sent to that petri dish in the sky are actually good for you.

They strengthen your immune system and make your kids less likely to develop allergies.

Studies show that kids exposed to fumes from cleaning products are more likely to develop asthma, and may cause adults to be 30% to 50% more likely to get asthma, too.

The solution? Use natural cleaning products free of industrial chemicals.

And don’t clean so much. And maybe add a bit more clutter (and dirt) with plants.

#4 Plant-Cluttered Houses Are Healthier Houses

Sure, houseplants drop leaves, look unruly at times, and their pots scatter dirt, but you’ll breathe easier around them, and possibly live longer, too.

Many houseplants remove toxins from the air (devil’s ivy and peace lily are two examples).

And studies have shown that having a bit of nature indoors reduces the type of stress that causes deadly cardiovascular problems.

Plus, filling your home with houseplants is so trendy right now, a la #urbanjungle.

#5 If You Do Declutter, You Will Toss Something You Need Later

Disciples of extreme cleaning and organizing exclaim how happy they are to be free of their stuff. At first.

“All kinds of wonderful, valuable, and useful things get thrown out in the name of organizing,” writes Columbia Business School professor Eric Abrahamson in his book (with David H. Freedman)  “A Perfect Mess.”

Instead of throwing out anything you haven’t used in a year, Abrahamson recommends evaluating an item’s value and ability to be replaced. Throw out that stack of Domino back issues. Think twice about tossing your first edition “Harry Potter and the Sorcerer’s Stone.”

#6 A Cluttered Home Can Be Stylish, Too

The backlash to minimalism has begun. Thank goodness.

Evidence? Jungalow style, a look that features rooms stuffed with artful clutter: houseplants everywhere, boho pillows, tribal rugs, mismatched furniture, tchotchkes on every flat surface, and walls full of macramé hangings and art. Your clutter is no longer clutter. It’s fashion.

#7 The Stuff You Love Isn't Clutter

It’s your stuff. Don’t let the cleaning and decluttering tyrants tell you what’s clutter and what’s not. Make your house please you.

Fill it with items that mean something to you and express your personality. Display your 25-year-old T-ball trophy, make a gallery wall of your child’s art, and stack your vintage vinyl collection on the mid-century mod end table you snagged at a garage sale.

Throw away the copy of “The Art of Tidying Up” that you bought in a moment of guilt. Now that’s clutter.

Source: "In Defense of Having a (Slightly) Cluttered Home"

 

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