Real Estate Information Archive


Displaying blog entries 1-9 of 9

7 Things You Thought You Knew About Foreclosures

by The Schnoor Team


The foreclosure market in Albuquerque has been relatively dormant until recent years and this has caused many people to be skeptical of it. They don't fully understand how foreclosures work, and this lack of understanding can foster foreclosure myths that are dangerous both for homeowners who want to avoid foreclosure and buyers interested in purchasing a foreclosure.

Here are seven of the most common myths about foreclosures:

Foreclosures only happen in poor areas.

Foreclosures come in all shapes and sizes and occur in all neighborhoods. From low-income to million-dollar properties, you will see the full spectrum of homes entering into the foreclosure process. Economic forces such as rising interest rates and decreasing home values affect homeowners from all types of neighborhoods.

Financial irresponsibility causes most foreclosures.

While there are always those cases of financial neglect, most homeowners have shown some high level of financial responsibility in order to qualify to purchase a property in the first place. Unforeseen events such as job loss or a catastrophic accident can cause sudden and unpredictable financial havoc for homeowners. In addition, foreclosures also tend to increase when interest rates are up and property values begin to decrease. When this occurs, homeowners may find themselves paying higher monthly mortgage payments for a property that is no longer worth what they originally bought it for.

All foreclosures are in disrepair.

While some foreclosures can be in less than ideal shape, many are in great condition. The myth that all foreclosures are in disrepair seems to be driven by the other myth that foreclosures are usually caused by financial irresponsibility. Many homeowners who find themselves in a default situation encounter circumstances that are out of their control. Even so, this usually does not negatively affect the condition of the property. However, if you are not an expert in buying foreclosure properties, it is highly recommended that you seek the advice of a professional who is experienced with these types of sales to avoid common pitfalls.

Lenders want to foreclose on homeowners.

The foreclosure process is costly and time consuming, and is a last resort for lenders to recover their investment. When a homeowner defaults on a mortgage agreement, the lender must first file a public default notice after which the homeowner is given a grace period known as a pre-foreclosure period. During this time, the homeowner can pay off the debt or choose to sell the property. The minimum timeframe for a pre-foreclosure period varies by state and can range from 27 days (Texas) to 290 days (Wisconsin). Only at the end of the pre-foreclosure period can the lender auction the property off to a third-party buyer or repossess the property and sell it on the regular market.

Foreclosures are often bought for pennies on the dollar.

While it is true that foreclosures are often purchased below market value, one should be leery of anyone claiming that one can consistently find discounts of less than 10 percent of market value. 

Foreclosure buyers usually take advantage of the homeowner.

While homeowners in default should be wary of unscrupulous buyers and investors who try to take unfair advantage of the situation, most foreclosure buyers can actually help an owner to walk away with something to show for equity in the property and avoid a bad mark on his or her credit history. During the pre-foreclosure period, a potential buyer may approach the homeowner in default and arrange to buy the property before the foreclosure actually takes place. This pre-foreclosure sale also benefits buyers, allowing them to often purchase properties below full market price.

Foreclosure buying is only for professional investors.

Perhaps at one time this may have been the case, but with all of the tools available to today's buyers, more people than ever before have the opportunity to purchase foreclosure properties. Using online resources such as RealtyTrac's online foreclosure database, potential buyers can search nationwide for properties in pre-foreclosure, up for auction or banked-owned, as well as find extensive reports on each property listed. Buyers can also get financing and find real estate agents familiar with ins and outs of the foreclosure market to help create a smoother transaction.

Need more information?

If you have more questions about buying foreclosures, avoiding foreclosure, or any real estate topic, you can contact using the information below! 

Selling your home, How long does it take?

by The Schnoor Team


When we list a home for sale, one of the first questions we typically ask sellers is how quickly they would like to sell. It's no secret that an overpriced home takes longer to sell, and it might eventually sell for a lot less than market value. In a high demand market, a well priced home could sell within 10 to 21 days.

Average Days on Market

Average days on market is a number almost every real estate agent knows by heart. If your agent can't give you that number, you might want to think about hiring an agent who can. To determine the average number days on market yourself, figure out the day each home in any given month goes on the market and count the days to pending. Add those days together and divide by the number of homes.

What Makes a House Sell Quickly?

Sometimes there is no logical reason for the length of time it takes to sell a house. It could be luck. Your house could come on the market on the very day a specific buyer is looking to buy such a house. But more likely, how long it takes to sell a house depends on the following 3 factors:


A smart strategy some agents use to entice multiple offers, which tend to push the price higher, is to price the house a little bit under market value. Price range makes a difference, too. Often, lower price ranges sell faster than higher price ranges simply because there are more buyers who can afford lower-priced homes.


The adage: location, location, location is true. If the home is located in a highly desirable neighborhood near excellent schools, there will be more demand for the home. If it's located on the wrong side of the tracks near a toxic dump, it might never sell.


Homes in tip-top shape that sparkle and shine sell much faster than homes that need repairs or are cluttered. Home buyers need to imagine how they will live in that house, and they can't do that if the home looks like it belongs to you or is a mess.

Market Temperature Determines How Long it Takes a House to Sell
In seller's markets, homes tend to sell faster because there are fewer sellers and more buyers. When more than one buyer is trying to buy the same home, that can result in a bidding war with offers above list price. It's not unusual for a home to sell in a seller's market in less than a week.

In buyer's markets, buyers have more choices and can take their time. If the home isn't exactly what a buyer wants, a buyer will pass it over and keep looking. If you are a seller in a buyer's market, patience is key.

Here at The Schnoor Team, we would love to work with you to achieve your goals! We have a Unique Strategy when it comes to selling your home.  Our philosophy for selling your home is based upon Positioning.  We put your home at the top of every buyers wish list.  We make sure you home is seen!  

Looking to sell? Get experience on your side!

Things To Do: Albuquerque Wine Festival

by The Schnoor Team

Step into the southwest where wine tasting is nothing short of enchanting. New Mexico has been a proud producer of grapes for more than 400 years starting with mission grapes brought by Spanish Colonists from New Spain. The Colonists, whose travelers included Monks, needed wine for their daily mass, which lead them to plant a variety of wine grapes in the fertile New Mexican soils.

Today, New Mexico remains a vibrant wine region containing an incredible variety of vineyards, wineries, and tasting rooms amidst the low and high-desert vistas of the state.

Bringing together wineries from around the state, food, arts and crafts vendors, and live music in a relaxed setting, the Albuquerque Wine Festival is the place to be Memorial weekend! Find the wines you like through sampling, purchase a glass to enjoy on site and buy bottles to take home to enjoy later. The New Mexico Wine Growers Association will be hosting the Albuquerque Wine Festival at Balloon Fiesta Park again on Memorial Day Weekend. The annual event will showcase a wide variety of award-winning New Mexico wines in a relaxed, park-like setting with live music, international food and crafts vendors.



The largest wine festival in New Mexico.


Balloon Fiesta Park

5500 Balloon Fiesta Pkwy NE

Albuquerque, NM 87113


Memorial Day Weekend

May 27-29, 2017

11:30-12:30 Wine Lover Early Access Hour*

12:30-6:30 General Admission

Get tickets or see full details at:

Information Provided by:

How to Address Low Offers When Selling Your House

by The Schnoor Team

You should put a lot of thought into every offer you get. Before ignoring or refusing a low purchase offer, counteroffer and negotiate. It could turn that low purchase offer into a sale.

Your best response is to counter with a price that you're willing to accept. Obviously, the person making the offer wants to buy your home. Set aside your emotions and focus on the fact. Counter with an offer that keeps the buyer involved.

Control your emotions

Unless the offer is ridiculously low, it deserves a response even if that response is an outright rejection.


Counter the purchase offer

You should already be thinking about the the lowest possible price that you're willing to sell your home for. How far off is the offer? Unless you've received multiple purchase offers, the best response is to counter the low offer with a price and terms you're willing to accept. Some buyers make a low offer because they think that's customary, they're afraid they'll overpay, or they want to test your limits. 

Sending the signal that you're willing to negotiate is a good thing in these situations. If you decide to counter with a lower price, remove other concessions such as closing costs, appliances, or other upgrades to the home that you may have promised.

Review your comps

Ask your Realtor if any homes comparable to yours been sold or put on the market since your home was originally listed for sale. If those new comps are at lower prices, you might have to lower your price to match them if you want to sell.

Consider the buyer's comps

Buyers sometimes attach comps to a low offer to try to convince the seller to accept a lower purchase offer. Take a look at those comps. Are the homes similar to yours? If so, your asking price might be unrealistic. If not, you might want to include in your counteroffer information about those homes and your own comps that justify your asking price.

If the buyers don't include comps to justify their low purchase offer, have your real estate agent ask the buyers' agent for those comps.

Get the agents together

If the purchase offer is too low to counter, but you don't have a better option, ask your Realtor to call the buyer's agent and try to narrow the price gap so that a counteroffer would make sense. Also, ask your Realtor if the buyer (or buyer's agent) has a reputation for lowball purchase offers. If that's the case, you might feel freer to reject the offer.

Don't signal desperation

Buyers are sensitive to signs that a seller may be receptive to a low purchase offer. If your home is vacant or your home's listing describes you as a "motivated" seller, you're signaling you're open to a low offer. 

If you can remedy the situation, maybe by renting furniture or asking your agent not to mention in your home listing that you're motivated, the next purchase offer you get might be more to your liking.

Get experience on your side and contact The Schnoor Team Today!


A Guide to Exterior Paints and Stains

by The Schnoor Team

To choose the best exterior paint or stain for your job, match the coating to your house, your climate, and the look you want.

Latex Paint

Latex paint cleans up easily with water and can be used on wood, stucco, and vinyl siding.

At a cost of $4,000 to $6,000 or
more for a professional house painting, you want to get the most from your investment. Done right, an exterior paint job can last 10 years; stain needs to be reapplied more often, anywhere from two to 10 years, depending on the type of stain.
One key to how long an exterior finish lasts is how well the surface is prepared. But equally important is the choice of the paint or stain itself. Using high-quality materials, matching them to your house and climate, and conducting regular maintenance will extend the time between recoatings.

Expect to pay $35 to $45 per gallon for conventional premium paint or stain. "Green," or zero-VOC, products run $45 to $55 per gallon. A gallon covers 350 to 400 square feet, so figure on about 8 gallons to cover an average two-story, 30-by-40-foot house. Most paint jobs require a primer and two topcoats.

Acrylic Latex Paints

Acrylic latex is the favored choice, both of pros and do-it-yourselfers. These water-based paints come in an endless range of colors and three popular finishes. Flat paint, commonly used indoors, offers the least protection against the elements. Satin, with its slightly higher sheen, is a good choice for wood siding. Semi-gloss or gloss offers the most protection and works well on high-use areas like window and door trim.

Pros: Latex paints are easy to work with and clean up with water. The paint film remains flexible even after drying, so it breathes and moves slightly to accommodate changes in temperature, or even house settling, without cracking. In addition to wood, latex can also cover siding made of vinyl, aluminum, fiber cement, stucco, brick, and metal.

Cons: Unless you're using "green" products, expect to smell paint fumes from the moment you open the can until the paint dries completely. These odors, produced by volatile organic compounds, are toxic in high quantities and contribute to air pollution.

In general, latex paint doesn't bond well to previous coats of oil paint unless you prepare the surface very well. That means stripping nearly all the old paint off the wood first, a time-consuming and expensive job. It's often smarter to stick with oil if you've got oil, and latex if you've
got latex.

Costs: $35 to $45 a gallon for premium latex paint; $45 to $55 a gallon for premium low- or zero-VOC paints.

Oil-Based Paints

Oil paint, long prized for its durability, used to be the gold standard for exteriors and some high-traffic house trim such as handrails, doors, and floors. But these days it plays second fiddle to latex.

Pros: Oil paints dry hard and get harder with time. That makes them perfect for high-traffic uses: porch floors, steps, metal handrails, even your front door.

Cons: Over time, oil paint can become brittle and crack, producing an "alligator" look. (Some people actually
like the effect.) Oil paint can never be applied on top of old latex paint; the two won't bond properly.

Toxic solvents are required to clean brushes and other equipment that come in contact with oil paint. The average can of oil paint has more VOCs than a can of conventional latex paint. Low-VOC oil paint is available, but even these products contain more VOCs than low-VOC latex paint.

Costs: $35 to $45 a gallon for premium oil-based paint; $45 to $55 a gallon for premium Low-VOC Paints.

Exterior stain

Stain is the choice when you want to let some of the natural features of the wood shine through but still shield your investment from the elements. Cedar, redwood, and other beautiful varieties cry out for stain. As a rule, stain isn't as protective as paint; sunlight and weather can still penetrate the stain, causing the wood to age and discolor.

Like paints, stains come in latex and oil-based versions. You don't want to cover an oil with a latex stain, or vice versa, unless the old coat of stain has aged and weathered to the point where the new coat can adhere.

Stains come in three

finishes: Clear stains are extremely translucent. You'll see more of the wood, but you'll need to reapply as often as every two to three years. Clear stains can still vary greatly in appearance, so you will want to experiment on a scrap piece of shingle to choose your favorite product. Over time, the wood under clear stain will continue to discolor, forcing you to eventually move to the next category.

Semi-transparent stains are bulkier and offer more protection than clear stains, because they contain a hint of pigment. Color choices are not nearly as numerous as those for latex paint, but there's still a broad range of options. Reapply in five to seven years.
Opaque stains behave more like paint; they offer maximum protection and hide much of the wood's look. But they still allow the texture to show through. These come in many colors, but choose carefully-if you want to change colors next time around, you'll need to sand the surface completely. Opaques last 10 years or more.

Pros: Stains don't require extensive surface prep the way paint does. Just
wash, dry, scrape any raised or cracked stain, and re-stain with a brush. You don't need a primer and may be able to squeak by with one coat.

Cons: Depending on type of stain, requires frequent reapplication.

Costs: $35 to $45 a gallon.

It's worth springing for the good stuff. To make sure you're purchasing a quality product, buy at a reputable paint store and ask sales clerks for recommendations. When buying latex paints, choose ones that are 100% acrylic polymers or resins, labeled on the front or in the ingredients list. Low-quality paint feels thin, runs
down surfaces, and spatters off rollers. High-quality paint feels thicker, levels well when applied, and hides the old paint layer or primer in one to two coats, tops.

When it comes to stain, brand name and reputation are the best indicators of quality. Ask for recommendations, accept the higher price, and don't try to cut corners.

Need local recommendations? Contact us today!

Explore The Outdoors This Summer

by The Schnoor Team

Whether you crave a week of camping in a backcountry wilderness area, a day of single track mountain biking, a weekend rafting trip, hitting the links for a round of 18, or discovering where the Rockies begin, the Land of Enchantment has you covered. Adventurers and explorers, welcome to the Southwest’s best outdoor recreation.


New Mexico Fun Facts:

  • New Mexico is the fifth largest state by land mass and 37th in population.

  • The state is home to five national forests, 17 national parks and monuments, 35 state parks (20 of which have lakes), and 25 wilderness areas.

  • Wheeler Peak, near Taos, is New Mexico’s highest peak 13,161 feet.

  • Elephant Butte Lake State Park, near Truth or Consequences, is home to the state’s largest lake.

  • The Rio Grande, which ribbons through the state from north to south, is the fourth longest river in the U.S.

  • With over 300 days of sunshine, any season is golf season in the Land of Enchantment.

  • New Mexico's ski resorts are exceptionally family friendly, with affordable skiing and lodging packages to suit any budget.

Information Provided by: New Mexico True: See a full list at:

8 Water Saving Tips

by The Schnoor Team

Americans consume more water during the summer than any other season, particularly in Albuquerque where temperatures can climb to the 90s!


However, it's important to conserve water whenever and wherever possible. Doing so can help you save money, as well as help the environment. Here are 8 tips to help you save water.


1. Reuse water whenever possible

You can save a tremendous amount of water by using the same water to perform multiple tasks around your Las Cruces home. For example: instead of rinsing fruits and vegetables in the sink, put water in a dish and rinse them there. When you're done, use the leftover water for your houseplants or lawn. Or if your shower takes a minute or so to warm up, start saving that water and then water your plants with it. 


2. Use a pitcher for drinking water

Instead of filling a glass of water in the sink, invest in a water pitcher to store in your fridge. This ensures that water is not wasted down the drain by running the tap. Some pitchers are outfitted with water filters, which can help purify the water and improve its taste.



3. Turn off the water while brushing your teeth or shaving

Next time you brush your teeth, wet the tooth brush and then turn the faucet off while you brush. Doing so can save as much as four gallons per minute. When shaving, try filling up your sink with a few inches of water for rinsing your razor.


4. Avoid rinsing dirty dishes with running water

When hand-washing your dishes, fill one side of your sink with soapy water and the other side with clean water. This method saves much more water than rinsing your dishes with a running faucet. If you prefer to use a dishwasher, scrape the leftover food off your plates instead of rinsing them. Newer dishwashers and detergents are powerful enough to thoroughly clean your dishes without rinsing beforehand.


5. Use a water-efficient showerhead

Try this experiment at home: take a one-gallon bucket and fill it up with the water from your showerhead. If the bucket fills up in less than 20 seconds, your showerhead expels too much water. Consider installing a showerhead that uses 2.5 gallons per minute or less to conserve water.


6. Find and fix leaky faucets

Check your kitchen and bathroom sinks to see if they're dripping. A leaky faucet can waste as much as 20 gallons of water a day. Thankfully, fixing a leaky faucet is much easier than you may think and usually requires little more than a wrench to repair. has a handy guide to fixing a variety of different faucets typically found in homes.


7. Only water plants when necessary

Did you know that more plants die from over-watering than under-watering? Prevent this by only watering your plants when they need it most. Try to water your plants early in the morning, when cooler temperatures reduce evaporation. To make it simpler, invest in a self-watering system with a timer so your plants get the water they need at the right time. Make sure you adhere to the Albuquerque Water Authority.


8. Reduce unnecessary flushing

You might be tempted to dispose of dead bugs, cigarette butts or used facial tissues in the toilet. However, these unwanted items should be thrown in the trash instead. A typical toilet can use as much as seven gallons of water per flush.


Avoid Common Contract Mistakes

by The Schnoor Team


In our 27 plus years of experience here in Albuquerque, NM, we have run into just about every kind of problem that causes delays or even kills the purchase and sale of your home. This week we thought we’d share some of the most common mistakes made when dealing with contracts and how to avoid them. Of course, the best way to avoid all of these is to work with an experienced Realtor, like Jon & Jeanne.

Here are 4 ways to avoid making common contract mistakes.

1. Give yourself time to get a loan

Many contracts are contingent upon the buyer getting financing by a certain date. In today's tough lending climate, buyers are wise to allow themselves plenty of time to get approval for a home loan. If the date passes and no financing is secured, the sellers may terminate the contract and keep the earnest money deposit.

You should also be realistic about your closing date. Don't try to close too quickly. There are a lot of things that need to be done properly, and you must give lenders, title companies and others time.

2. Be specific about which items stay with the house

You've likely heard the story of the buyer who walked into a new home only to discover that the refrigerator and chandeliers were missing. Check the contract

As a seller, be sure you specifically state on the contract what will stay with the home.
As a buyer, pay attention. Don't assume that the Sub-Zero refrigerator is yours once you close.

3. Know the dates for all the terms and contingencies

Surprise! The contract doesn't always take effect on the day you sign it.
In every contract, there are things that must be done within X number of days from the effective dates: inspections, loan applications and approval, title searches. If you don't know the dates by which all contingencies must be removed and all terms met, you may not have a valid contract.

4. Get everyone to sign

Sometimes the home is owned by both spouses, other owners or an entity such as a corporation. Whether it is the listing agreement or purchase agreement, all parties must sign the contract. If a party to the transaction fails to sign, that contract is invalid.

Buying a house is one of the biggest financial decisions you're going to make. Simply, take it seriously and make sure everything that's important to you is in writing.

As you may know, one of the most important parts of the buying process is financing. Many people find the financing process intimidating. I’m here to tell you it is not as scary as you would think. Our complete step-by-step financing guide will provide you with all the information you need to have a smooth and successful experience.

How Not to be Your Own Worst Enemy

by The Schnoor Team

Don't let your brain betray you when buying a home!

If you've bought or sold a home before, you probably know that people aren't necessarily at their most rational moments when they're buying or selling real estate. This is true in Albuquerque, NM just as it is everywhere.

Buying a new house isn't the same as buying a car, lawn mower or stock. It's different because it represents the kind of lifestyle you want to live. It doesn't just have pluses and minuses like good landscaping versus a long commute, or lots of space versus bad schools. It has to fit into your larger vision of the kind of life you want to live. And that makes the whole thing very tricky.

Plus, let's not forget that this is the most expensive thing you'll ever buy and it can either gain or lose value.

Thus the issue we're talking about today: People's judgment about real estate is susceptible to many of the foolish forces that affect so many other consumer decisions.

Here's a few common things that affect decisions that could be easily solved:

A room painted an ugly color. Even though it's an easy fix, it turns people away... right away.
The smell of a strong dinner. Onions, garlic, you know the smells that stick around too long. They turn people away.
Too many cars in the driveway. "This neighborhood seems busy," a recent buyer told me.

Sellers are just as irrational sometimes, especially when the market turns south.

Sellers are commonly affected by loss aversion, the mental quirk by which we feel
losses much more sharply than we feel pains. Instead of setting the price of our homes by what the market will bear, we set it by what we paid and what we think we "have to get." This sets you up for failure.

In our experience, homeowners consistently overestimate the value of their homes by 5 to 10% when the market is bad.

How do you keep yourself from doing these things? You don't. You are your own worst enemy when you buy and sell real estate. Step back, find a professional Realtor who you can trust, and take their advice. That's the only real way for you to not be your own worst enemy.

Displaying blog entries 1-9 of 9

©2017 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Information is deemed to be reliable, but is not guaranteed. This is not a solicitation if you are currently working with a real estate broker. Equal Housing Opportunity