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Displaying blog entries 171-180 of 228

Retirement - A Time to Sell

Wednesday, August 8, 2018
by The Hat Team

With more and more Baby Boomers reaching retirement age, they will be asking themselves if they should sell their homes. This is a time in their lives to finally enjoy the fruits of their labor and the last thing many want is to have to take care of a large home or be tied down to a big mortgage. Today’s housing market has low inventory of starter and trade-up properties, meaning there are a lot of buyers out there competing for homes.  So, the question retirees need to ask themselves is, “should we sell now?”.  Consider these questions to find your answer:

  1. Will you be able to afford your home once you have retired?  It’s important to think long term about the monthly costs of staying in your home.  Even if you have paid off your mortgage, you will still be responsible for Property Taxes, insurance, HOA fees, and utilities.  Then there are home repair costs.  If you are living on a limited monthly income, an unexpected, costly home repair can be devastating. 
  2. How much Equity  do you have in your current home?  If you have a lot of equity built up in your current home, you can use that to purchase a retirement home and have little or no mortgage, freeing up your monthly income for other things. 
  3. Can you keep up with home maintenance? Maybe you are someone who enjoys yard work and other home maintenance tasks, but depending on your age and health, these chores can become more challenging with time.  A condo with an HOA fee might be the way to go so that you can enjoy your golden years with the peace of mind in knowing that you don’t have to do maintenance work yourself.
  4. Do you feel secure in your home?  Criminals prey on the elderly.  It’s a sad, but true fact.  Elderly homeowners are often targets for scams and break-ins.  Home security systems are helpful, but living somewhere that has 24-hour security, such as a manned gate-house and resident only access can provide you the security you need to be able to relax and enjoy retirement.
  5. Is your current home set up property for limited mobility?  As people age, getting around can get more challenging.  People are living longer, more active lives these days, but that doesn’t mean that you will always want to climb the stairs to your bedroom. And what if you must use a wheel chair at some point?  Are your doorways and hallways wide enough? Will you have easy access to a bathroom and shower?  Homes in retirement communities are built with these things in mind and often offer the best of both worlds…activities to keep you busy and entertained and accommodations for any physical needs you might have in the future.
  6. Is your current home in a convenient location?  There are many things to consider about location.  Are you close to a hospital and drug store?  Can you easily get to shopping and entertainment venues?  Are your grandchildren close by?  Maybe you are living in a fantastic school district, which was great when your kids were growing up, but doesn’t really serve you now.  If that’s the case, take advantage of the resale value that will give you and sell so that you can find a home that is more conveniently located for you.

If you are considering selling so that you can find your perfect forever home, contact Sandra Nickel, a Seniors Real Estate Specialist (SRES), and her Hat Team of professional Realtors and let them help you get your house on the market and sold for the best possible price. Call them today at 334-834-1500!

Photo Credit: forbes.com

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The Price is Right - How to Price Your Home to Sell

Wednesday, August 1, 2018
by The Hat Team

When preparing to put your home on the market, there are a lot of things you need to think about: deciding if you should make home repairs and improvements, staging your home to impress potential buyers, keeping your lawn and house in prime condition for viewings and prepping to move.  But one of the most important decisions you must make is how much you should ask for your house. Determining the asking price for your home cannot be taken lightly. There needs to be some psychology and strategy used to decide the price that will sell your home in a timely manner and for the most profit.  You and your Realtor should identify and agree upon the approximate value of your property. You can use Comparable Sales of similar properties sold in your neighborhood to help you make this decision.

Next, you need to understand the price range for your list price.  Depending on market conditions, competing properties, time of year or inventory, the price range can fluctuate.  For example, a house with the asking price of $500 K can have a price range of $480 K to $520 K.  Once you have determined your home’s value and have a price range in mind, it’s time to conclude what your asking price will be.  This is where pricing strategies come into play.

- Appeal to multiple buyers - It may be tempting to ask for the highest price you think you can possibly get for your home.  But if you price your property on the lower end of the value range, you will likely appeal to more than one buyer and you might even have a bidding war amongst buyers who want your home.  Chances are you will get more than your asking price if this happens.

- Utilize psychology when choosing your asking price - Be careful of too many zeros.  For example, it is easier for a buyer to process $250 thousand than it is $250,000 - and $250,000.00 is even worse on the eyes. Buyers feel like they are being asked to pay more when there are more zeroes included in the price. It doesn’t change the actual price, but the perception of the price changes.

- Make sure it’s visible in real estate searches - If buyers are looking for three-bedroom homes under $400 K and you have your property priced at $405 K, an automated buyer search for properties under $400 K will exclude your home, meaning you will miss out on a lot of potential buyers. Experienced Realtors  will set up search parameters for buyers that include properties listed a little bit more above their price ceiling.  Keeping in mind that home prices are flexible, buyers could find the perfect match on a home above their limit, but with the possibility that it is in within a reasonable range of price or that it will be reduced.

- Have a price contingency plan before listing your home - You may have very high expectations regarding the worth and appeal of your home. If you insist on asking top dollar for it, you may get lucky (depending on the current market) and get it, or you may not get any full price offers at all. In that case, it’s important to have a contingency plan lined up before you list your home. That way, if you must lower your asking price, you will already be prepared for it and it won’t catch you off guard.

- Be flexible -  Setting an initial asking price is just the beginning of your home selling process.  A lot of different factors may come into play when selling your house, and you won’t be able to anticipate all of them.  Being flexible will allow you to react quickly to changing Market Conditions or new information and you will be more likely to get the best price for your home.

If you are planning to sell your house, contact Sandra Nickel and her Hat Team of professional Realtors and let them assist you in pricing it right for the current market.  Call them today at 334-834-1500.

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Home Improvements that Don’t Increase the Value of Your Home

Wednesday, July 25, 2018
by The Hat Team

Preparing to sell your home can be a stressful process.  Often you will find yourself making improvements just for the sake of the sale.  While some of these enhancements may boost the look of your property and make it easier to sell your home, you will be surprised to discover that they do not increase the value of your home.  In fact, some improvements might actually detract from it.  Here is a list of 6 “home improvements” that do not increase the value of your home:

EXTENSIVE PROFESSIONAL LANDSCAPING

Landscaping choices are a personal preference.If you are going to invest in elaborate landscaping, you should do it for your own enjoyment, because no matter how grand your yard is, it’s not going to bring you big bucks upon resale.

NEW ROOF, GUTTERS, SPRINKLERS OR HVAC

There are certainly buyers in the market who will be looking for homes that have newer features, but they won’t pay more for them.Replacing things that are broken or past their life expectancy is considered and not something buyers expect to pay for.

SWIMMING POOL AND/OR PERSONAL SPA

While water-related improvements can provide a lot of fun and entertainment for your family, the cost of installing a pool or spa never finds its way back to you. In fact, some buyers will ask that you take the spa with you or won’t purchase a house with a swimming pool.Installing a pool or spa should only be done for your own pleasure.

MAKING DATED IMPROVMENTS

If you think you might be selling your house, you need to be careful about making improvements that are not in style. For example, you might love white appliances and countertops in your kitchen, but because these are not currently trendy, potential buyers are not likely to feel the same way.

PAINTING YOUR HOUSE

Painting may be the single most cost-effective improvement you can make before selling your home, but it won’t return any bang for your buck unless you do the painting yourself. Fresh paint on the exterior or interior of your home absolutely makes the home more saleable, but an appraiser will not give you a credit boost for it.

SOLAR PANELS

The people selling you those solar panels will tell you that they will improve the value of your home and add to your bottom line profit, but it’s not true. You get zero approved value for solar panel installation.

If you are in the market to sell or buy a home, let Sandra Nickel and her Hat Team of professionals assist you with all your real estate needs.  Call them at 334-834-1500 today!

Photo Credit: centrestaged.com

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618 Mary Ann Dr: Move-in Ready Johnstown Home with Lots to Love

Monday, July 23, 2018
by The Hat Team

618 Mary Ann Dr, Montgomery, Al 36109 

MLS# 437018

3 Bedrooms | 2 Bathrooms | 2,018 sqft | Johnstown

Lots to love in this move-in ready Johnstown home on oversized lot. Ample sized living room and dining room, and spacious greatroom with stone fireplace and wall of built-in bookshelves. Kitchen has sunny breakfast area and updated countertops and stove. Plenty of parking in the back, plus huge back yard with tall pines. Wonderful neighborhood and close to shopping and dining, and zoned for Dalraida Elementary! 

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1164 S McDonough St: Unique Converted Firehouse in Desirable Garden District!

Monday, July 23, 2018
by The Hat Team

1164 S McDonough St, Montgomery AL 36104 

MLS# 438223

3 Bedrooms | 2 Bathrooms | 3,064 sqft | Garden District

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A Live-Work Opportunity That Has Stood the Test of Tiime! Firehouse 9 is an exceptional and unique property, not only for Montgomery, but nationally, having been featured in magazines, books and television shows. Its notable renovation and rejuvenation has maintained the 1917 historic character, retained the original floor plan, and incorporated modern and up-to-date conveniences. Firehouse 9 is constructed of solid materials that surpass the standard of most buildings: 16” exterior masonry walls, old-growth timber interior framing, thick plaster finishes and bead-board ceilings. If you are looking to simplify your home and work routine, enhance your sense of identity, and want something different from the normal package of room names wrapped up in gypsum board and brick veneer, Firehouse 9 may be right for you. And, yes, it still has the fire pole!

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Calling All Investors: 301 Bowling Green Drive

Friday, July 20, 2018
by The Hat Team

301 Bowling Green Drive, Montgomery, AL 36109 

MLS# 437096

4 Bedrooms | 2 Bathrooms | 1,650 sqft | College Grove

Calling all investors/flippers! Here is your opportunity to make $$$ on this spacious <span class="ContextualSpellingAndGrammarError SCXW90153456" style="margin: 0px; padding: 0px; user-select: text; -webkit-user-drag: none; -webkit-tap-highlight-color: transparent; background-repeat: repeat-x; background-position: left bottom; background-image: url(" data:image="" gif;base64,r0lgodlhbqaeapedaabvzdnvzdnv="" waaach5bauaaamalaaaaaafaaqaaaiinc2qchykqgeaow="=&quot;);" border-bottom:="" 1px="" solid="" transparent;="" background-color:="" inherit;"="">4 bedroom home in College Grove. Great bones, just needs cosmetic updating (kitchen, baths, finishes, flooring.) Separate living spaces, four bedrooms, plus enclosed porch and inground swimming pool. Large storage building. Roof is less than a year old, so that won't be an expense to the next owner! 

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1319 Pampas Drive: Pristine custom built one owner home in Woodmere!

Sunday, July 15, 2018
by The Hat Team

1319 Pampas Drive, Montgomery, AL 36117 

MLS# 436914

3 Bedrooms | 2 Bathrooms | 1,985 sqft | Woodmere

Pristine custom built one owner home in Woodmere. This spacious ranch is in immaculate condition! Wonderful living areas with the eat-in kitchen open to the large family room, huge sun room overlooking the shaded deck and nice sized bedrooms. Attached two-car carport and situated on a private pie shaped lot. You can move your family right in!  

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767 Hillman Road:Cherished Mid Century Ranch with Original Details

Wednesday, July 11, 2018
by The Hat Team

767 Hillman Road, Montgomery, Alabama 36109 

MLS# 436521 ​

2 Bedrooms | 1.5 Bathrooms | 1,600 sqft | Dalraida Park Estates 


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Sensational original mid century modern ranch in beautiful Dalraida.... large corner lot ... this home should be on the pages of Atomic ranch magazine.... Many original 1950's details intact.... wonderful lot..... call us or your favorite agent today!!!!!!!! 

 

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The Top Five Reasons to Hire a Realtor

Thursday, July 5, 2018
by The Hat Team

Whether you are looking to purchase a home or getting ready to sell one, the process of doing so will go much more smoothly if you have an experienced Realtor to represent your interests.  You might be thinking that you can save money by trying to do it on your own, but the truth is that the time, energy and stress a Realtor will save you is priceless!  Here are the top five reasons why you should hire a Realtor when buying or selling a house:

  1. EXPERTISE - Experienced real estate professionals will know all the ins and outs of buying and selling homes. Real estate has a language of its own, and Realtors will speak it fluently.  They are not only familiar with all the forms, reports and disclosures involved, they understand them and can explain them to you.  They will work to get you the best deal possible and help you avoid costly mistakes. Glossary of Real Estate Terms
  2. ACCESS - Realtors can search listings that the public does not have access to.  They will know immediately when a house goes on the market; long before you can find it on the internet.  Local Realtors will also have a lot of knowledge about different neighborhoods and areas that may appeal to you.
  3. NEGOTIATION - Realtors are trained negotiators.  It is their job to get you a first-rate deal.  With fierce competition for homes and the chance of a bidding war, you are going to want a shrewd and experienced negotiator on your side.
  4. CONNECTIONS - They know who’s who in every aspect of a real estate transaction. They can hook you up with a mortgage lender, home inspector, real estate attorney, home stager, etc.  And since the best deal for you benefits them as well, they are going to make sure to recommend the top people in their professions.
  5. TIME - While searching for a new house, or getting one ready to sell, chances are you’re still working full time, taking care of a family and feeling a little stressed about everything you need to do.  Slow down, take a deep breath and let your Realtor alleviate that stress a bit.  Being a Realtor is a full-time job that you don’t need to add to your to do list. 

The bottom line is, you probably can buy or sell a home on you own, but that doesn’t mean you should.  Hiring an experienced professional like Sandra Nickel will make your home-buying/selling experience less stressful and more successful.  Call her today at 334-834-1500!

Photo Credit: wondersunn.com

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Selling Your House vs. Becoming a Landlord - Should You Sell or Should You Rent?

Wednesday, June 13, 2018
by The Hat Team

Whether moving for a job or just relocating for personal reasons, you still must decide what to do with your current home.  Should you rent it out?  Or sell it?  There are many circumstances to consider before making that decision.  How long do you have before you move?  What is the housing market doing in your area?  And do you have someone you can trust to manage your property?

Of course, the biggest motivator in your decision is which option will be most financially profitable.   If you have a lot of equity in your house and can sell it, you’ll walk away with some cash to put toward your new home.  If the house is paid off, you’ll walk away with A LOT of cash.  However, if your equity is built up and you have low mortgage payments (or no mortgage payment), you could bring in a substantial monthly income by renting the house for more than your monthly payments.  You do have to consider the costs involved with renting the house out.  If you’re relocating to another town, you will likely have to hire a Property Manager to collect rent and take care of issues that come up.  You might also have to pay to advertise the home.

There are going to be risks involved either way.  If you put the house up for sale, you run the risk of not selling it quickly and possibly ending up with two mortgage payments or a house payment and rent payment on a new place. But, renting out your house could be a bigger risk. There’s a chance you will rent it to people who you think will be good tenants, but wind up paying the rent late or not at all.  There is also the risk that renters will not take care of the house and lower its value.

Another issue to consider is that housing markets can greatly fluctuate from year to year. You must question whether your neighborhood is in the kind of shape to support a quick sale.  If other homes haven’t been selling, for example, you might not get as much for your house as you might if you could wait a year or two and rent it out in the meantime.  On the other hand, if the housing market is hot in your neighborhood, it might just be the best time to take advantage of it and sell to get the best price possible.

Finally, you have to think about whether you can afford a new mortgage while you still own the first house.  Per Kiplinger, lenders count about 75 percent of the income you receive from renters when figuring out if they’ll give you a new loan, but that’s only if you have a signed lease and your salary is sufficient to cover the rest of the mortgage requirement.  Selling your house will make it much easier for you to qualify for a new loan.

The bottom line is that, after doing your research, you can decide whether selling or renting is the best and most financially sound choice for you.

If you’re thinking about selling your home let experienced Realtor Sandra Nickel and her Hat Team of professionals assist you in getting your home listed and sold for the best possible price!  Call them today at 334-834-1500!

Photo Credit: hawaiilife.com

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