Real Estate Information Archive

Montgomery AL Real Estate For Sale

3603 Thomas Ave, Montgomery AL 36111

MLA# 503961 | 4 Bedrooms | 4.5 Baths | 2,992 Square Feet | Edgewood

Virtual Tour

Here is your opportunity to own a pristine Mid-Century modern home in desirable Edgewood! This unique property has been very well cared for by the same owner since the early 80's! Situated on a large corner lot, this home has a great flow and features vaulted ceilings, a large open living area with an entire wall of built-in bookcases, a huge corner fireplace, and lots of windows with natural light. The three bedrooms are on the main floor, each with their own bath and an upstairs bedroom/studio with a full bath, perfect for a teenager to have their own space. The room off the living room is ideal for an office/playroom or a 5th bedroom. Off the kitchen is a breezeway to the double carport, storage and greenhouse. The back yard has plenty of room for play and pets even with the enormous pool where you can't help but picture your family and friends enjoying!

Marketed by Montgomery AL Realtor Lauren Keen, Sandra Nickel Hat Team.

Your home equity is how much of your home that you “own”. For example, if you put down 20% on your home when you purchased it, that means you already have 20% of the home’s value of equity in the home.  As you pay the loan down over the years, your principal loan value decreases while your equity increases. To calculate your equity, take the current appraised value of your home and then subtract what you still owe on your home. Home Equity Calculator

Every month when you make your mortgage payment, you gain equity in your home.  If you make full payments on time, your equity will grow as your principal loan decreases and at the end of the term of your loan, you will own your home outright. So, if you have a 30-year mortgage, you will own your house in 30 years. Building equity is one of the major perks of being a homeowner.  It makes your home a valuable asset that you can use in the future to either buy a new home or make other large purchases.  Some people even use their home equity to fund their retirement. But thirty years is a long time! If you want or need access to your money sooner, you can build your equity faster and here is how:

• PAY MORE AGAINST YOUR PRINCIPAL MORTGAGE

By making extra mortgage payments, or paying more than you owe each month, you can decrease the amount of your principal balance and build equity faster. For example, if you make one extra mortgage payment a year, you could possibly pay off your loan ahead of schedule. Or, if you pay a little more than your required payment each month, you can also shorten the life of your loan. Say your required monthly payment is $2100. $2100 divided by 12 is $175. If you add $175 to each monthly mortgage payment, after 12 months you will have made one extra payment for the year, thus paying off your mortgage a little quicker! But be careful, because some loans have prepayment penalties for paying off your loan too much ahead of schedule. So, check into that before you decide to pay more on your loan. Prepayment Penalty

• WHEN YOU GET EXTRA MONEY PUT IT TOWARD YOUR LOAN

Extra money? Who has that? Well, you might if you get a bonus or a gift of money. Perhaps you can’t afford to put extra money toward your loan every month, but things like holiday bonuses or even a tax refund or an inheritance may give you the extra cash you need to make and extra loan payment. Just be sure that your money is going toward your principal and not your interest. How Do I Make Extra Payments on My Loans

• COMPLETE A HOME IMPROVEMENT PROJECT

There are some home improvement projects that can add significant value to your home, thus increasing the equity you have in your home. Even a small project can give you a huge return on your investment (ROI)

• CHOOSE A 15-YEAR LOAN VERSUS A 30-YEAR LOAN

Just because a 15-year mortgage is half the time of a 30-year mortgage, that does not mean that your monthly payment will double. Have the mortgage lender run the numbers to see if you can swing the payments on a 15-year loan. If so, you will not only pay the loan off faster, but you will also pay less interest over the life of the loan, thus saving even more money!

• MAKE A LARGE DOWN PAYMENT

While it may be tempting to take advantage of a loan that offers a low or no down payment, if you’re looking to build equity quicker, it is not the best choice. A large down payment will assist you in building equity faster. The more you put down, the more equity you begin with. If you can put at least 20% down, you get the added perk of not having to pay for PMI (Private Mortgage Insurance), which can be expensive.

Building equity is a huge benefit of being a homeowner. It’s like a forced savings account and can be one of the best investments you will ever make!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: moving.com, lunchboxarchitect.com, urockloans.com

If going green is important to you, you have probably considered installing a solar panel system to your home. While solar is certainly a smart long-term investment that can reduce your environmental footprint, it is important to understand the pros and cons of solar power so you can make the right decision for your home. Making your home more energy efficient is always a good thing, but there are a lot of solar power myths that are communicated via the media. Take time to do your research and educate yourself before purchasing a solar panel system!

PROS OF SOLAR ENERGY

• Lowers electric bills. This is the top benefit of using solar panels.  With solar power, you are generating your own electricity, thus becoming less reliant on your electric utility company. This, in turn, reduces your electric bill.  Because solar panel systems generally last 25-30 years, you can save money on your electric bill for decades!
   
• You can actually earn money using solar! Due to many Solar Incentives in the United States, solar panels not only generate bill savings, but also pay off in other ways.  Utilizing these incentives will allow you to be compensated for the electricity that your solar panels generate.
  
• It will give you some control over rising energy costs. The cost of electricity has risen by about 5% over the past decade and that trend of rising electric costs is expected to continue. However, the cost of solar has decreased more than 70% over the same ten years. By installing solar panels now, you will avoid rising energy costs!
   
• Improves the value of your home. Studies have shown that property values often increase after solar is installed.  So, even if you do not plan on staying in your current home long term, you can still reap the financial benefits of your solar panel investment when you sell.
   
• It reduces your carbon footprint and moves our country toward energy independence. This is what it is all about, right?  Saving money is a wonderful thing but saving our planet…that is priceless! Using solar power benefits our environment and at the same time, moves our country toward transitioning away from fossil fuels and being heavily reliant on fossil fuel producers abroad.

CONS OF SOLAR ENERGY

• Solar panels do not work on every type of roof. Because of the way solar panels are installed, not every type of roof will support them. If you have an older or historic home that has a roof made from slate or cedar tiles, it can be challenging for solar to be installed. Skylights and rooftop decks can also make solar installation difficult and costly. There are other options, such as ground mounted solar panels or buying a share in a Community Solar Garden.  So, even if you cannot have panels installed on your roof, you can still take advantage of solar energy.
  
• You may not get a return on your investment if you are about to move. While solar is a great financial investment, it does take a while to break even on it.  If you are planning to move within a few years, you may feel like they are an unworthy investment. However, as stated in the pros above, solar does increase the value of your home. So, if you buy your system with cash or a loan, you can still earn your money back when you sell your home.
   
• If you already have low electric costs, your solar savings will be low as well. Some people live in areas with low electric costs to begin with and in those cases a solar panel system will not be nearly as attractive as it is to someone who pays a high electric rate.
   
• Upfront costs can be intimidating. The total out-of-pocket price for a solar panel system depends on many things, including tax credits, rebates, and the financing you use.  But the upfront cost can seem overwhelming, especially if you don’t qualify for a Zero-Down Solar Loan.  Many people will not even consider solar panels because they feel they just cannot afford the cost.  That is why it is important to do research and find out about solar financing options. Solar Companies in Montgomery Alabama  

While rooftop solar panels are not the right choice for everyone, they clearly do provide many benefits to homeowners. Going green and decreasing your carbon footprint can be done in many ways.  With our country moving toward clean energy, solar is one of the most consumer- friendly options.

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: cnn.com, greenmatch.co.uk, paksolarservices.com

Most real estate offers have contingencies, which are provisions that must be met for the transaction to go through. If the contingencies are not met, the buyer is entitled to walk away from the deal with their earnest money. The fewer contingencies there are, the more likely a contract will go through in a timely manner. Earnest Money

Here are five of the most common contingencies:

• Home inspection contingency. This contingency allows the buyer to have the home professionally inspected. If problems are found the buyer can request repairs by a certain date; generally, within five to seven days of the purchase agreement being signed. Depending on where you live, there may be requirements for repairs on structural defects, building code violations, and/or safety issues. But keep in mind that many repairs are negotiable, so there is wiggle room for the sellers to decide what repairs they are willing to make for the sale to go through.
  
• Appraisal contingency. A home must pass appraisal for a buyer to obtain a home loan. The appraisal is a process during which the property’s value is assessed by a neutral third party. The purpose of the appraisal is to be sure that the home’s worth is enough to cover the price of the mortgage. Usually, the home buyer pays for the appraisal, which typically takes place within 14 days of the sales contract being signed.
   
• Financing contingency. A financing contingency is also referred to as a loan contingency or mortgage contingency. It protects the buyer in the event their lender does not 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. Sometimes home buyers will make the purchase of the new home contingent upon the sale of their current home. Usually, buyers have a window of 30 to 90 days to sell their house before the sales agreement is voided. This contingency puts the seller at a disadvantage because the buyer’s house might not sell in time.
  
• Title contingency.  A buyer must “clear title” prior to having a mortgage approved. This is 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. Property Title Search: What it is and How it Works

These contingencies are common in most real estate sales contracts. However, the sale of current home contingency is used more often in a strong buyer’s market. Just remember that contingencies are negotiable!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: canva, lonestarfinancing.com, rismedia.com

Perhaps you have been thinking about purchasing a home, but you are not sure how much you need for a down payment. Many people will tell you that you need to have 20% to secure a mortgage. Thanks to various programs available to buyers, the truth is that you can put down as little as 3%. In fact, if you are a military veteran you could qualify for a Veterans Affairs Home Loan and not need a down payment at all! While these programs may mean that you do not have to save as much and you can get into a home sooner, there are some major benefits to making a 20% down payment if you can:

• YOU MAY QUALIFY FOR A LOWER INTEREST RATE

Putting 20% down vs a 3-5% down payment gives your lender/bank the confidence that you are financially stable and a good credit risk. With this confidence, they will be willing to give you a lower interest rate on your mortgage loan.

• YOU WILL PAY LESS OVER THE LONG RUN

With a bigger down payment, you will have a lower loan amount for your mortgage. That means you will be paying less interest. For example, if you make a 20% down payment, you will only pay interest on the remaining 80% of the loan. If you put only 5% down, the extra 15% on your loan will accrue interest and you will pay more over the long run.

• YOU WILL BE MORE APPEALING TO SELLERS

Chances are, you will be competing with other buyers for the same home. Like the mortgage lender/bank, sellers feel more confident in buyers who are making 20% or larger down payment. They will see you as a buyer who’s financing is more likely to be approved, thus ensuring the sale will go through.

• YOU WILL SAVE MONEY BY NOT HAVING TO PURCHASE PRIVATE MORTGAGE INSURANCE

Private Mortgage Insurance (PMI) is an insurance policy that protects the lender if you are unable to pay your mortgage. It comes to you in the form of a monthly fee included in your mortgage payment. It is required for all conforming, conventional loans that have down payments of less than 20%. If you make a down payment of 20% or more, this insurance is not required. 6 Reasons to Avoid Private Mortgage Insurance

• YOU WILL HAVE LOWER MONTHLY PAYMENTS

When you make a 20% down payment it will result in smaller mortgage payments. You are starting off with a smaller overall mortgage and saving the expense of PMI, therefore your monthly payments won’t be as high.

• YOU MAY BE ABLE TO AFFORD A MORE EXPENSIVE HOME

Let’s say you are budgeting for a $1,000 monthly mortgage payment. If you are able to get an interest rate of 3% on a 30-year mortgage, with a 5% down payment you can afford to buy a $171,000 home. But if you made a 20% down payment, you would be able to buy a $213,000 home and still maintain your budget of a $1,000 a month mortgage payment.

While putting 20% down on a home is not a requirement, and you can certainly purchase a house with less down, saving for a 20% down payment may be worth it thanks to advantages listed above!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: moneyunder30.com, usatoday.com, gobankingrates.com

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Wishing you a safe and happy Labor Day weekend!

Montgomery AL Home For Sale:

3452 Bankhead Ave, Montgomery AL 36111

MLS# 503019 | 6 Bedrooms | 3 Baths | 3,251 Square Feet | Edgewood

Virtual Tour

This marvelous mid-century modern is one of only a handful in Montgomery that is completely original and pristinely intact! Custom built in 1953 by a local family, no expense was spared in design and materials. Highly functional multiple living areas are flooded with light from vaulted skylights. Rich wood cabinetry with drawers and built-in glass front display cabinets abound in every hallway and pass through, affording endless storage. The original design includes an ample master suite with built in headboard and dresser PLUS 5 other bedrooms and two back-to-back baths for their growing family. Each of the "children's" bedrooms have built-in desks/shelving and storage. Outdoor living includes covered entry, covered side porch, and a third rear patio area, and the back yard is totally fenced for pets. Heirloom landscaping dots the property, along with mature trees and lots of privacy. Truly a museum quality one-of-a-kind find in prestigious Edgewood!

Marketed by Montgomery AL Realtor Billy Young, Sandra Nickel Hat Team!

Montgomery AL Home for Sale: 

4624 Wares Ferry Rd, Montgomery AL 36109

MLS# 36109 | 3 Bedrooms | 2 Baths | 1,624 Square Feet | College Grove

Virtual Tour

Even on the approach to this home, you know it is something special...unlike any of its neighbors. Custom additions and renovations abound like the fencing in the front yard, landscaping, and tilework on the covered front porch. Once inside, the foyer with a shiplap accent wall welcomes you into a cozy living/dining room combo. If you are an HGTV fan, you will flip over the custom kitchen with hickory soft close cabinets, roll-out shelving, and a lazy susan to optimize storage. The two-drawer Fisher-Paykel dishwasher is a Godsend for singles or families, and the 5 burner stove allows you to cook lots all at once. Relax in the light filled den/family room with a real fireplace and stunning views out the picture window of the covered deck and big salt water swimming pool. Both bathrooms have been tastefully updated. Wake up to a perfect view of the gleaming pool every morning from the oversized master bedroom that boasts two closets. The backyard is a dream for entertaining large groups or just winding down after work. A detached workshop is wired and perfect for storing pool toys, lawn equipment, or even a man cave/she-shed (with a little creative work...). The metal roof is a huge plus, and the pool pump and liner are in good working order, as is the HVAC system. Zoned for desirable Dalraida elementary school, this home is truly one of the best homes in the area, and one you don't want to miss out on!

Marketed by Montgomery AL Realtor Billy Young, Sandra Nickel Hat Team!

Raise your hand if you are a homeowner living on a budget who also wants all the latest and greatest home décor trends. If you raised your hand, these tips are for you! 

Check out these 8 ways you can make your home décor look expensive without breaking the bank:

1. FRESHEN UP YOUR FIREPLACE

Just having a fireplace to begin with gives your home a more upscale aesthetic, but if it is in poor condition, you do not have to spend a lot of money to give it a makeover. You can give it a new, modern look with things like laminate, paint, peel and stick tiles, and molding. How to Update Your Fireplace - 5 Easy and Affordable Ideas

2. PUT IN SOME WOOD FLOORS

Real hardwood can be cost prohibitive, but there are so many alternatives these days, many of which are just as durable and beautiful as the real deal. For example, laminated tile that looks like wood grain. The 7 Best Low-Cost Alternatives to Hardwood Flooring

3. ADD SOME BASEBOARDS FOR AN ELEGANT FEEL

If your house is lacking in those special touches such as trims and moldings, you can add them easily and inexpensively to elevate the quality of a room. Cheap and Easy Dramatic Baseboards

4. CREATE A RUSTIC LOOK WITH AN ACCENT WALL

Sure, you can paint or put up wallpaper to make a wall stand out, but for that updated rustic charm that adds color and texture, wood is what you are looking for! Choose your wood, stain it, and add it to the wall for a look that will change the whole feel of the room. 50 Wood Accent Wall Ideas

5. MAKE A BOARD & BATTEN WALL

Not only will this make your bedroom look more chic, it will also provide a beautiful “headboard” for your bed. It will add depth and texture to your wall for a much more upscale look. Cheap and Easy Board and Batten Tutorial

6. ILLUMINATE WITH LIGHTING

Bringing light into a room is a simple and budget-friendly trick to make your home look more elegant and luxurious. You can do this by adding lighting pieces that are unique and expressive. 5 Cheap Ways to Update a Room With Lighting

7. EXPAND YOUR SPACE WITH MIRRORS

Along with lighting, a few strategically placed mirrors can create an illusion of space making a room look much larger than it actually is. In order to achieve this illusion be sure to hang your mirrors across from a lighting source, whether it be a window or a lamp light. Creating the Illusion of Space Using Mirrors

8. CHANGE HARDWARE

If you want a more elegant look for your kitchen, you do not have to renovate the whole room. It is amazing how much you can upgrade the look of your kitchen by just changing out the hardware finishes such as drawer pulls and knobs. Kitchen Hardware: 27 Budget Friendly Options

These are just a few things you can do to give your home a more expensive look while living on a budget.

Creating modern, upscale home décor is not out of reach!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: idealhome.co.uk, decoist.com, sebringdesignbuild.com