Here’s the impact that inflation may have on homebuyers this year.

Inflation has been in the news quite a bit lately, so many of you are wondering if that means you should hold off from purchasing a home. If that describes your situation, there are a few things to consider. 

The first is affordability. If you’re struggling to pay your rent, current mortgage, or may struggle with the extra costs of a home purchase, you may want to wait and see what’s going to be best for your financial situation. You want a nest egg to fall back on, just in case. That being said, over the last 30 years, home values have outpaced inflation. Purchasing property is a great way to protect your money; history shows that you won’t lose out by purchasing a home. 

"Over the last 30 years, home values have outpaced inflation."

In 2021, inflation increased by about 7.5% in the U.S., but housing markets rose by around 20%, depending on the area. Some of the major housing authorities such as Fannie Mae, the National Association of Realtors (NAR), and Zillow are predicting an 11% growth in home price appreciation this year, and some are predicting much higher rates. Even if inflation continues at 7% or escalates to 10%, housing appreciation will beat it. 

Despite the upward trajectory of prices, it’s still an excellent time to buy. Interest rates are destined to climb a little, but even if they do, you’ll still win out due to inflation. Rents will also tick up with inflation, along with multiple other things, but according to the data, historically, housing has been a good hedge against inflation. 

If you have questions or would like to discuss your particular situation, I’m always available to provide advice or help in any way I can. Just call or email me; I would love to help you.

Unique Attractions that will Make You Want to Live in Albuquerque

Albuquerque is the biggest city in New Mexico and is widely known for its sunny weather all year round. This makes it the ideal venue for a wide variety of outdoor activities and unique attractions. Indeed, you will never run out of things to do while you are in Albuquerque. In this article, we will talk about some of the most interesting attractions that you can enjoy in this city.

Sandia Mountains

The city of Albuquerque is situated right at the foothills of the Sandia Mountains, where there is an abundance of outdoor activities that can be experienced. Aside from the natural beauty of the mountain, many areas have also been developed to enhance the outdoor experience in this environment.

Sandia Peak Tramway

The Sandia Peak Tramway, for instance, was built in 1966 and is now the third-longest tramway in the country. It connects northeastern Albuquerque to Sandia Peak. Traversing this aerial tramway will give you a majestic view of the mountain and the city, and also give you an amazing adrenaline rush that you won’t soon forget.

Elena Gallegos Open Space

If you are looking for a slightly tamer adventure, the Elena Gallegos Open Space might be a more suitable venue. It is located at the foothills of the Sandia, with easy access to biking and hiking trails for those that want to explore the mountain further. The area is suitable for families and groups, with its 2 reservation areas and 7 covered picnic areas. There are also a lot of barbecue grills available for use so that you can truly enjoy your outdoor dining experience.

International Balloon Fiesta

Of course, we can’t do an article on Albuquerque attractions without mentioning the balloon festival. Anticipated by thousands of locals and tourists each year, this splendid event is marked by hundreds of beautiful and colorful hot air balloons rising into the sky. This balloon extravaganza lasts for nine days and is held every October.

Old Town

Another must-visit when you are in Albuquerque is this tribute to the original Spanish settlement of centuries past. Many of the present structures had been developed and enhanced over the years but one of the originals that remain to this day is the San Felipe de Neri Church. It has been carefully maintained to keep the original architecture, as well as several religious artifacts displayed in the museum. There are also restaurants around the area where you can take a quick snack while enjoying your tour.

ABQ BioPark Botanic Garden

Occupying more than 36 acres, this vast botanical garden features many different garden setups that truly give justice to the natural beauty of plants combined with the artistry of landscaping and garden design. A visit to the ABQ BioPark Botanic Garden will certainly be a relaxing experience. Booking in advance is recommended if you want to go for a visit.

Petroglyph National Monument

If hiking is your thing, you must not pass on a trip to the Petroglyph National Monument. This place has plenty of trails with varying difficulties for hiking and walking. There will be very little shade where you can hide from the sun so make sure you wear sunscreen, as well as comfortable hiking shoes. This natural area spans more than 27 kilometers and is controlled by the City of Albuquerque, together with the National Park Service.

Best Places to Eat in Albuquerque

Albuquerque does not only have a myriad of magnificent attractions to keep you amazed and entertained. They also have some of the finest dining establishments in New Mexico where you can really enjoy a scrumptious culinary treat. Here are some of the most famous restaurants and cafes that you have to check out.

Nexus Brewery

Craft beers are quite a big thing in Albuquerque and there are several breweries that make really excellent beverages, as well as the mouth-watering dishes that New Mexico is quite known for. At Nexus Brewery, you can get the best of both worlds. They specialize in spicy food, which when paired with your choice of beer makes a really delicious meal.

Monroe’s

If you are in search of a truly authentic New Mexican culinary experience, you should definitely head to Monroe’s. They have been serving traditional food like chimichangas, enchiladas, and burritos for more than half a century. Their diverse menu includes something for all tastes, making it the perfect family restaurant.

Accommodations

If you are planning a vacation to Albuquerque, you don’t have to worry about places to stay. There are plenty of accommodations to choose from that will fit any budget and any length of stay. Whether you are planning on staying just two nights or are thinking of renting an apartment for the entire summer, there are countless options available. Housing and rentals in Albuquerque are very comfortable and affordable. And of course, if you're thinking of purchasing a home or property in Albuquerque give the Realtors here at Albuquerque Realty a call.

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We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.