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Displaying blog entries 151-160 of 166

Montgomery AL Home For Sale: 423 Martha St

Tuesday, June 16, 2015
by The Hat Team

Montgomery AL Home For Sale:

423 Martha St, Montgomery AL 36104
MLS# 318603

Live in a Landmark and Save!

423 martha st

Live in a Landmark and Save! Why pay rent when you can own this sweet little cottage for a lot less than you'd expect: $295 principal and interest on a 4.5% loan. Around $400 with add-ons. Try doing that in an apartment in the downtown area. What's more, this home qualifies for special financing with lender-paid closing costs, so what are you waiting for? Call now!!!

Marketed by Montgomery AL Realtors Sandra Nickel Hat Team!

 

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Montgomery AL Home Price Index and Annual Appreciation

Tuesday, June 2, 2015
by The Hat Team

Montgomery AL home prices heated up in the first quarter of 2015 with 1.36% growth in value Jan-Mar 2015 compared to .76% for 2014.

Recent Appreciation

2nd Quarter 2014:  -1.06%
3rd Quarter 2014:  1.21%
4th Quarter 2014:  0.61%
1st Quarter 2015: 1.36%
montgomery al


Find out the current market value of your home in just 17 seconds!

Information courtesy of Montgomery AL Realtors, Sandra Nickel Hat Team!

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Who would want to be without one?

Monday, June 1, 2015
by The Hat Team

When the 75 year old man who had been widowed four times was asked why he was getting married again, he said “for the little bit that they eat, I wouldn’t want to be without one.”

house-umbrella.png.jpg

In a torrential rainfall, you wouldn’t want to be without an umbrella. It is also understandable that when purchasing or selling a home, more and more people want an agent involved.

NAR’s Homebuyers and Sellers Profile states the trend in owners trying to sell their home themselves has declined over the past ten years from 14% in 2003 to only 9% in 2014. Similarly, the number of buyers purchasing directly through an owner has decreased from 2001 to 2014 from 15% to 5%.

It is natural to think that a seller wants to get the highest price for their property while the buyer wants to pay the least possible. Negotiations may be the most valuable service provided by an agent because of the clear conflicts of interest such as the price, terms and condition.

Other areas of contention that could affect a party without an agent:

  • The real estate agent who represents the other party
  • The attorney who represents only one party
  • Home and pest inspectors regarding condition
  • The buyer’s lender regarding terms
  • The lender’s appraiser regarding value
  • The title company in an effort to satisfy challenges to clear title
  • Municipal authorities to mitigate code violations

Even when there are two licensed agents involved, there could be a question of representation. This is a discussion that buyers should have with a real estate professional before looking at houses.

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

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4 Tips for Buying Your First Home

Thursday, May 28, 2015
by The Hat Team

If you are in the market to buy your first home, you have come to the right place.  We are going to give you a few tips that might make buying your first home a good experience.  Buying a home can be a fun and exciting experience.  Buying your first home is a monumental time in your life and needs to be done right to assure you get all that you want out of it. 

  1. home buyerThe number one tip for having a great first time home buying experience is to find the right Realtor.  Sure you can find a Realtor quickly and easily as they will all likely be eager to help you with your home purchase but if you don’t find the right one you may be sorry later.  It is good to find a Realtor that shares some of your personality traits.  You may want to actually interview a few different agents before making your decision.  A good place to start looking for an excellent Realtor is by asking your friends and family members who they may recommend.
     
  2. Finding the best mortgage lender is also a key to a quality first time home buying experience.  Lenders are a dime a dozen so you need to be careful who you choose.  You may find that one lender in your area of town may offer a much better deal than one on the same side of town.  Again you may want to “interview” a few different lenders to find out who is willing to give you the best deal possible.  Keep in mind that mortgage lenders are basically sales people.  They are trying to get you to get your mortgage with them versus another lender.  Use that to your advantage.
     
  3. When buying your first home, be sure not to let your feelings and emotions get in the way if you get bad news. For example,  if you have your heart set on a particular house and then you find out that it is way out of your price range or that there are many problems that need addressing with the home  you are going to need to be able to quickly move on to the next house without getting upset about it.  You can make any house a home once you move in and put your own personal touch on it so don’t get discouraged and don’t be too quick to jump into purchasing the first house you see or like.
     
  4. Before buying your first home it is a good idea to have all of your financial affairs in order.  For instance if your debt to income ratio is a bit off you need to work on that before making a home purchase.  You are going to want to get the most house for your money and by doing your best to get your finances in order and get pre-qualified before you start looking you will be moving in the right direction. 

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

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Things to Think About Before Moving To the Country

Friday, May 8, 2015
by The Hat Team

Moving to the country may sound appealing to you however there are a few things you need to think about before doing so.  Living in the country can be rewarding if you are willing to take a few things into consideration before moving there.  Getting away from the hustle and bustle of the city may be just what you are in need of.  In this blog post we are going to give you a few tips for making your move to the country a peaceful one.

  • countryRealize that most homes out in the country require that you have a well.   Well water although great tasting may need a bit of work in order to get it ready to drink.  Sometimes well’s can be costly if you are moving to a rural area that has hard water.  Just be sure to keep this little fact in mind before you move out to the country and you won’t be surprised by it if you end up needing to purchase some sort of water softener. 
  • Realize that your commute to work may be a bit longer if you work in the city and choose to purchase land or a home in the country.  If living in the country is important to you and your family then making the sacrifice of driving a little bit further to work may be worth it to all of you.
  • Buying land or a home out in the country is also going to mean a more difficult time driving anywhere in the event of inclement weather.   You and your family may have to settle in for a few days and just enjoy one another when bad weather comes once you move out to the country.  This can be a blessing or a curse, depending on the way you look at it.  It is just good to be aware that rural roads typically do not get cleared as fast as roads in the big cities when bad weather sets in.  You may want to consider buying a four wheel drive if you purchase a home in the country so that you can more easily maneuver around the snow covered country roads.
  • The cost of trash removal can get quite expensive in the country.  Many folks that live in the country take their trash to the local dump because they can save quite a bit of money that way. 
  • If you are considering buying a home in the country to get away from loud neighbors, be aware that you may have to deal with gun shots and folks hunting within walking distance of your home once you move out on a bigger piece of land. 

If moving to the country sounds appealing to you and none of these items we have listed for you to think about bother you, then you are likely going to enjoy living in the peace and tranquility the country life has to offer you. 

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

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Tips to Make Your Spring Housecleaning a Breeze

Friday, April 17, 2015
by The Hat Team

It’s that time of year! Spring-cleaning time! Check out these spring housecleaning tips from Angie Hicks, founder of Angieslist.com. These are tips from the pros to get your home in shape for spring.

housecleaningVacuuming your rugs and carpets weekly is the key to not letting dirt accumulate. If you have pets, more often is better. Here’s a three-step approach for use with wall-to-wall carpet to consider:  

  1. Clean the perimeter with the edging tool.
  2. Begin at the far corner and move backward so you don’t leave footprints.
  3. Vacuum slowly and steadily, rather than using numerous quick passes.

The pros prefer lightweight machines, which use HEPA filters, and come equipped with long hoses to reach under furniture and high ceiling corners. Also, check out this resource for Martha Stewart’s suggestions on carpet maintenance.

Additional miscellaneous expert tips are…

  • To remove rust stains in shower areas make a paste of hot water and powdered oxygen cleaner. Apply the mixture to shower walls and glass and let sit for 30 minutes. Scrub with nylon scrubber, rinse and buff dry.
  • To clean smudges from dark granite counters, wipe down with soapy water and buff dry.
  • To freshen drains and clear clogs pour baking soda over the drain, then pour on vinegar. Use boiling water to rinse the bubbling mixture down the drain.
  • Remove debris from tiny crevices with toothpicks.

Some kitchen supplies that the pros like are…

  • Baking soda can be sprinkled showers and sinks to deodorize them.
  • Mix one part vinegar, one part water, and 5 to 10 drops of eucalyptus or lavender oils to be shaken or sprayed on carpets, sofas, or mattresses.
  • Mix some antibacterial dish soap with white vinegar and hot water to sanitize doorknobs, doors, walls and other surfaces.

If you prefer to outsource the cleaning, line up possible candidates by checking Angies' List or another trusted online source for references. Also, get references from friends. Most cleaning companies will provide free estimates. An initial “deep” cleaning can average $300 to $400 with biweekly cleaning averaging $100 to $150. Of course, specific prices will depend on the size of your home, types of flooring, whether or not you have pets or kids, etc.

You can find more information from Angie Hicks’ article and from Martha Stewart’s guide to cleaning here.

Happy spring cleaning!

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

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Are You Ready?

Thursday, April 16, 2015
by The Hat Team

For whatever reason you’ve delayed buying a home, it may be time to reconsider that decision based on today’s conditions and what is expected to happen in the future.

are you readyRents are continuing to increase to the point that in most markets, it is significantly less expensive to own than to rent.  Even after you factor repairs into the equation, the low interest rates, principal accumulation due to amortization, appreciation and tax savings lower the monthly cost of housing.

Low inventories coupled with strong demand cause a rising effect on prices.  Another reason for higher values is that builders, especially in certain price ranges, have not ramped up new home starts to keep up with the demand.

Recently, the Federal Reserve announced that they intend to start raising rates. Most experts agree that higher interest rates are a foregone conclusion; it is just a matter of when it will happen.

A $300,000 home today could cost considerably more one year from now.  With a 20% down payment, if prices go up by 3% and the interest rates increase by .5%, the principal and interest payment at 3.625% would be $1,094.52 for 30 years compared to $1,198.05 at 4.125%.

The question is not necessarily “can you afford the additional $103.53 more per month that you’d have to pay for the home during the 30 year term?”  More importantly, “How would you feel about having to pay more because you weren’t ready to make a decision and what would you have spent it on if you didn’t have to pay a higher payment?”

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

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Top 5 Reasons to Own Your Own Home

Friday, March 13, 2015
by The Hat Team

According to Fannie Mae the top five reasons people buy a home:

  • To have a better place to raise their children
  • A place where their family can feel safe
  • To have more space; Freedom to renovate to their own taste
  • Being a homeowner is a better investment.

home buyerDoes this hold true for you? Well, let’s take a look at these reasons to get a broader perspective…then you decide for yourself about being a homeowner.

To have a better place to raise children and family can feel safe…

This can very subjective and involves a lot of factors. It boils down to community and personal preferences. What is the look and feel of a community where you could see yourself living? The school system and convenience to shopping are important. Local government services provided such as emergency services, hospitals, fire, police, utilities, etc. must be considered. Is there a neighborhood watch, public parks, a community center with activities for everyone in the family, etc.? Try making a list of all the things important to you and use it evaluate where you’re searching for real estate.

To have more space…

This is also somewhat subjective, but can be looked at analytically as well. Much depends on your lifestyle and the size of your family. There are large and small apartments, and large and small houses. Much has to do with how much space you would like to have versus how much you can afford. And this also really flows into the next topic…

Freedom to renovate for your own taste…

Whether you want to add on or simply renovate within existing walls, “freedom” is a huge factor in deciding to buy a house. Buying is not for everyone. Renting is a very good option for a lot of people. But the freedom to do as you please with your home is a powerful motivator. Here’s where lifestyle comes into play. It costs more to own a home than to rent. The money saved by renting can arguably be used to support a different lifestyle, which is also a form of freedom. Only you can decide.

Owning is a better investment…

There is no doubt that at the end of a renting cycle you walk away with no financial benefit except for the money you have saved in the process. How that savings compares with what you have when you sell a house you have owned is the question. And the answer is “It all depends.” Being a homeowner costs money. But, a lot of the money spent owning a home potentially can be recuperated. A homeowner is also building equity every month they make a mortgage payment. In that sense home ownership can be viewed as a huge savings fund.

If freedom is your primary key factor, buying real estate and becoming a homeowner is definitely to be considered!

Ready to own your own home? Start your search here!

Information courtesy of Montgomery AL Realtor Sandra Nickel, Hat Team!

 

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Fast and Easy But Is It Accurate?

Monday, March 9, 2015
by The Hat Team

There are sites all over the web that offer to tell you what your home is worth.  Simply plug in your address and email and you’ll get a value.  It’s fast; it’s easy but is it accurate?

325000The value is determined by what is called an Automated Valuation Model (AVM) that analyzes public record data with computer decision logic.  Square footage, age, number of bedrooms and location are easily definable objective data.  The challenge is identifying, measuring and comparing the subjective data.

An AVM cannot identify how unique features might add or detract from the value, if the market is declining or why the comparable sales apply or don’t apply to the subject property.  Is a home worth more because it is near shopping or less because it is across the street from a high-traffic commercially zoned property?

Experienced professionals are more likely to make proper adjustments for condition, market appeal and positive and negative influences.

Imagine that you’re going out for dinner and you consult HamburgerAVM.com to tell you how much a hamburger is worth.  It might be accurate based on condiments, vegetables and weight but can it address things like taste, quality, cleanliness, service, convenience or atmosphere.  You certainly couldn’t present the printout to the waiter to negotiate a lower price.

An AVM can be a tool that a homeowner, prospective buyer, mortgage officer, appraiser or real estate agent can use to get a quick idea of price but there are inherent limitations that can only be considered by personal examination balanced with experience in the market place.

Experience and understanding of the subject property and the marketplace are critical to having confidence that a value is accurate.  Any person could go through the same steps to arrive at a value but an experienced, well-trained professional is far more likely to assess all of the variables more accurately.

Information courtesy of Montgomery AL Realtor Sandra Nickel, Hat Team.

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4 First-Time Homebuyer Mistakes NOT To Make

Thursday, February 12, 2015
by The Hat Team

First-time homebuyers owe it to themselves to do a lot of research about the finances of buying a home. Here are four first-time homebuyer mistakes to avoid.

oops1. Spending the maximum amount on a mortgage a lender will loan.

Lenders often qualify buyers based on incomes and debt-to-income ratios without considering how much the borrowers spend on other budget items.

Financial experts recommend that consumers decide how much they want to spend each month on housing before meeting with a lender. It’s up to you to know your budget and to not just jump at a mortgage amount that a lender says you can afford.

2. Not getting pre-qualified.

This should be the first step toward homeownership. Many first-time homebuyers wait until they are ready to start house hunting before contacting a lender.

Buyers need to get pre-qualified early enough in the process so that they can make changes if they need to or correct errors on their credit report. Some first-time buyers may need to spend up to a year saving more money, increasing their incomes or cleaning up their credit before making an offer on a home.

3. Underestimating the importance your credit score.

While most consumers know it's important to have a high credit score, not everyone understands how costly a low score can be. Mortgage lending is done with a tier of interest rates and terms based on consumer credit scores. Learn about credit scores the minute you start working. Many websites provide information about how to improve your credit score.

And remember, even after a mortgage approval, you must avoid applying for new credit or taking on new debt, because a second credit check is now often required before settlement.

4. Choosing the wrong mortgage product

Many first-time homebuyers opt for a 30-year fixed-rate mortgage only because it is an industry standard. Alternatives to a 30-year-fixed sometimes make more sense. For example, buyers certain they will be relocated by their companies within five years may find a 5/1 ARM could be a much better mortgage.

Homebuyers eager to build equity in their homes or who are older and want to live mortgage-free in retirement should consider a 15-year fixed-rate loan or even a 10-year mortgage to reach their goals.

Do your homework and don’t jump at a mortgage because it will buy you a bigger home.

Information courtesy of Montgomery AL Realtor Sandra Nickel, Hat Team Realtors.

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