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Displaying blog entries 241-250 of 281

ICE Can Save Lives

Monday, January 5, 2015
by The Hat Team

Everyone knows that ice can make a drink cool or reduce swelling, but if you put it on your cell phone, it might just save your life.

ICEThe concept is simple.  Make a contact record in your address book with the name “ICE”, which stands for In Case of Emergency.  In the note section of the record, you would list your name, blood type and medical conditions along with prescriptions and physicians.  You’d also list the people and their phone numbers that can be contacted in case of an emergency.

Several years ago, a British first responder came up with the idea when his emergency unit responded to a call where the victim was unable to communicate due to illness or trauma.  The victim’s wallet didn’t indicate specific persons to be notified in an emergency.  The fireman went through his cell phone to try to identify a relative and wasn’t successful.

That’s when he came up with the idea of a universal entry into the address book for ICE where the necessary parties and special information could be kept.  The story received a considerable amount of publicity and spread across the pond to the United States and into many other countries.

While it isn’t recognized everywhere, it is becoming increasingly more popular.  Even if emergency technicians didn’t find it, the slight possibility that they would find it and it would make a difference would justify the few minutes it will take to create it.  Click here to download a card to carry in your wallet or purse.

Information courtesy of Sandra Nickel Hat Team REALTORS.

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Being a Good Neighbor

Tuesday, December 16, 2014
by The Hat Team

A good neighbor might be characterized as someone who’ll look after your home when you’re out of town by picking up your mail and watering your plants.  You’d most likely reciprocate for anyone who’d be so generous toward you.

good neighborIn some cases, you might only be able to name one or two of your neighbors who would step up to that level of service.   Wouldn’t it be nice if more people on your street would be happy to make that offer?

The solution may just start with being a better neighbor first.  The following suggestions go a long way to improving your neighborhood and making new friends at the same time.

  • Meet your neighbors and exchange phone numbers and email addresses.  Agree with each other that you’ll let them know if you see something strange going on at their home. 
  • Slow down when driving through the neighborhood; it will make it safer and everyone will appreciate it. 
  • Control your dog: keep it on a leash; pick up after it; don’t let it bark too much.
  • Don’t park in front of your neighbor’s home.
  • Notify your immediate neighbors when you’re having remodeling done and ask them to let you know if any of the contractors cause damage to their property.
  • Let your neighbors know when you’re having a party and that there will be more cars on the street than usual.
  • Maintain your home and yard so that it adds to the beauty of the neighborhood.
  • Put your garbage out for collection on the correct day and bring the containers back in promptly.

In reality, it is fairly obvious; you just have to think of the things that you’d want from your neighbors.  Be friendly; don’t be noisy; offer a helping hand when available and respect each other’s boundaries.  Having a sense of community and that you all share the neighborhood can be underlying principles that will guide your behavior.

A good neighbor would be aware of suspicious activity and would call their neighbors and the police if warranted.  This might be something you can discuss with your neighbors.  Click here for a template to record your immediate neighbor’s contact information and keep readily available if needed.

Information courtesy of Montgomery Realtor Sandra Nickel.

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3 Ways to Get Your Home Ready For Winter

Thursday, December 11, 2014
by The Hat Team

If you haven’t already noticed, it is getting colder with each passing day outside.  If you want to stay cozy and warm inside your home this winter, you are going to have to do a few things to make sure it is possible.  Typically folks don’t think about winterizing their home until it is already freezing cold outside.  Hopefully you still have a few weeks winter homebefore the temperatures get down too low to get your home ready for the cold.   In this blog we are going to give you three ways to get your home ready for winter.   

  • Turn your heat on close to 80 degrees and leave it there until you hear the heat come on.  If you hear the system come on and it seems to be making the home nice and toasty then you don’t have to worry about doing anything to your heat for the coming colder months.  However, if you notice that the heat smells funny or that it is not getting the house as warm as you would like it, you may have to call in a professional to do a diagnostic test to see what the problem is and fix it for you.
     
  • Get your fireplace ready for winter by making sure it is free of debris.  Sometimes birds like to make their nests in chimneys and you don’t want to start a fire with a birds nest in the way.  It’s also a good idea to make sure that the damper opens and closes as it should. This will help to insure that any fire you make in the fireplace brings the heat into your home instead of heating the outside.  A good way to check the draft of your fireplace is to light a piece of paper and put in inside the fireplace.  If the smoke rises then you should be good to go, if not then you probably have some sort of obstruction in the way and you need to clean it out properly before you make your first fire of the season.
     
  • Check to make sure that there are no drafts around your doors and windows.  You can purchase weather stripping at your local hardware store if you find that you do have some draftiness.  You would be surprised at how much cold air can get in through even the tiniest of cracks in and around windows and doors in your home. 

Hopefully these tips will get you started in the right direction for getting your home ready for winter.

Information courtesy of Montgomery AL Real Estate Expert Sandra Nickel. 

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Verify With Your Lender

Wednesday, November 26, 2014
by The Hat Team

If you have a mortgage with an escrow account to pay your property taxes and insurance, you expect the company servicing your loan to pay this year’s taxes this year so that you can deduct them on your 2014 income tax return.  property taxAfter all, your monthly payment includes 1/12 the annual amount so there will be money available for them to be paid on time.

IRS requires that expenses must actually be paid in the year that a deduction is to be taken.

The predicament occurs when you’ve made your payments but the mortgage company didn’t pay the taxing authority in the tax year they were due.  If they paid your 2014 taxes in January of 2015, they wouldn’t be deductible for you until you file your 2015 income tax return.

Verify with your lender after you make the December payment that they did indeed pay your property taxes.  The question for your lender’s customer service is: "Have you or will you pay the 2014 property taxes this year so I’m eligible to deduct them on my 2014 income tax return?”

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

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Realize Tax Savings Sooner

Thursday, November 13, 2014
by The Hat Team

A homeowner’s tax saving benefit is generally realized when they file their federal income tax return after the money has been spent for the interest and property taxes.  Some people look forward to the refund as a means of forced savings but some people need to realize the savings during the year.

tax savingsIt is possible to adjust the deductions being withheld from the homeowner’s salary so they realize the benefit of the savings prior to filing their tax returns in the form of more money in their pay checks.  Employees would talk to their employers about increasing their deductions stated on their W-4 form.

By increasing the exemptions or deductions, less is taken out of the check and the employee will receive more in each pay check.  If a person over-estimates their exemptions and therefore, underpays their income tax, they might incur interest and would have additional tax to pay when they filed their tax return.

Buyers considering this strategy should seek tax advice and discuss it with their human relations department at work.   Additional information is available on the Internal Revenue Service website about Completing Form w-4 and Worksheets.

Information provided by Montgomery Realtor Sandra Nickel and The Hat Team.

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9 Steps toPreventing Identity Theft After You Move

Friday, November 7, 2014
by The Hat Team

The previous blog about preventing identity theft during a move dealt primarily with precautionary steps to take from your old residence to thwart clever criminals.  So you’re now safely ensconced in your new  home. And you can breathe a sigh of relief, right?

identity theftActually, no.  Unfortunately, there are clever identity thieves waiting at that end of your relocation, also, and your efforts to outwit them must continue at your new address.  Read on for more advice:

  1. Once you have reached your new home, check to make certain that you have all the important papers and documents you carried with you—and immediately put them in a safe, secured place.
     
  2. Locate and unpack the box containing your electronic possessions—tablet, IPhone, computers, etc.  Account for each one and consider changing your passwords.
     
  3. Carefully look through your bank statements to make certain that there are no unauthorized charges.  You might also think about requesting new credit reports to be sure that your status hasn’t changed significantly.
     
  4. Make certain that you are receiving your mail at your new address.  If you are missing any statements, checks, and the like, report those losses immediately.
     
  5. Contact your old neighbor to verify that he/she is collecting any mail that arrives to the prior address.  Arrange for it to be mailed to you or go by and pick it up, if possible.
     
  6. If you have to cancel any bank accounts or credit cards because of your relocation, close the account, cut up any cards associated with the account, and shred unneeded papers.
     
  7. Replace the locks on immediately- preferably before you even move in, as the old tenants could still have keys.
     
  8. Be diligent and cautious when providing personal information, especially your social security number, to new doctors, organizations, or schools.
     
  9. After the move set up a “safe zone” where you store important papers and can work on private matters away from the eyes of visitors to your new home, repairmen, utility workers, and strangers.

Although you may not be able to protect your identity 100%, you can go a long way in ensuring peace of mind by being proactive, diligent, and aware, especially during a move.

Information provided by Montgomery Realtor Sandra Nickel, Sandra Nickel Hat Team.

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Relax...There's an Alternative

Monday, November 3, 2014
by The Hat Team

Is the stock market keeping you up at night?  Are you consuming more antacids than ever before?  Are the ups and downs causing more stress than you want or need?  There is a simple alternative in rental real estate.

for rentSingle family homes for rental purposes offer an excellent rate of return in an investment that most people understand better than other investments.  The concept is simple: stay with predominantly owner-occupied homes in a slightly below average price range.  In most areas, tenants are easy to find and they’ll usually stay two to three years or more.

For the person who doesn’t want to be bothered with calls from tenants, professional management is available and commonly won’t dramatically affect the rate of return.  Managers can achieve economies of scale that individuals can’t due to managing multiple properties and having good connections with the best workmen.

Unlike most commercial property, single family homes are much more liquid because of the higher demand for residential property.  Single family homes offer the investor the opportunity to borrow high loan-to-value mortgages at fixed interest rates, for long periods of time on appreciating assets with tax advantages while providing the investor a higher than normal level of control.

Spend an hour investigating the benefits and you might sleep better at night, eat less antacids and find yourself more mellow than you’ve been in years.

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

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Enjoy Your Improvements and Profit by Them

Thursday, October 30, 2014
by The Hat Team

Homeowners can raise the basis or cost in their home by money spent on capital improvements. The benefit is that it will lower their gain and may save them taxes when they sell their home.

capital improvementsImprovements must add value to your home, prolong its useful life or adapt it to new uses. Repairs are routine in nature to maintain the value and keep the property in an ordinary, operating condition.

Additions of decks, pools, fences and landscaping add value to a home as well as new floor covering, counter-tops and other updates. Replacing a roof, appliances or heating and cooling systems would be considered to extend the useful life of the home. Completing an unfinished basement or converting a garage to living space are common examples of adapting a portion of the home to a new use.

Other items that can raise the basis in your home are special assessments for local improvements like sidewalks or curbs and money spent to restore damage from casualty losses not covered by insurance.

Here’s a simple idea that could save you money years from now.

Every time you spend money on your home other than the house payment and the utilities, put the receipt or canceled check in an envelope labeled “Home Improvements.” Regardless of whether you know if the money would be classified as maintenance or improvements, the receipt or cancelled check goes in the envelope.

Years from now, when you’ve sold your home and you need to report the gain on the property, you or your accountant can go through the envelope and determine which of the expenditures will be adjustments to your basis.

Some people disregard this idea because of the generous exclusion allowed on principal residences. At the unknown point in the future when you sell your home, circumstances may have changed and the proof of these expenditures will be valuable. The tax laws could lower the exclusion amount or eliminate it altogether. Your marital status may change because of death or divorce. The market value of your home may skyrocket.

Since the future is unknown, it is better to keep track of the improvements as they are made and how much is spent on them. Download an Improvement Register and examples or read more in Publication 523 on Increases to Basis.

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

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6 Steps For Avoiding Identity Theft When Moving

Friday, October 17, 2014
by The Hat Team

With all the news concerning retailers databases being compromised and resulting in consumer identity theft, you need to be acutely aware of the increase of identity theft during a move and take precautions to prevent your becoming a victim of enterprising criminals. Moving often makes it easier for identity theft to occur: we leave identity theftinformation behind that others can use---mail that is not rerouted to our new address, important papers that aren't shredded but left in the trash, or through hiring rogue movers. The following steps are essential to ensure your protection:

  1. If you are using a moving company, be sure that you know it is a trusted and reliable firm.  Sometimes simply getting recommendations from friends, family members, and real estate agents is not enough.
     
  2. Make a change of address checklist.  Before you move, make sure you take the time to list all companies, institutions, and subscriptions that you receive through the postal system. Click here for a list of those you should include.  Personally notify all financial institutions of your plans to leave your home.  One of the easiest ways that someone can obtain your personal identity is through mail theft.
     
  3. Submit a change of address form to the U.S. Post Office.  Once your form has been filed, double-check the confirmation from the Postal Service to make sure that they list your new address correctly. Your mail should start being delivered to your new residence within seven to 10 business days after you submit a change-of-address filing.  Ask a current neighbor to take in any mail that comes to your old address after you move.
     
  4. Although moving is a good time to discard unwanted personal files, records, and documents, don’t just throw them away; shred them!
     
  5. Make sure your technological “toys”---computers, cell phones, tablets, and the like—are secured by passwords and packed in unmarked boxes.  Better yet, take the computers, hard drives, and other external storage devices with you when you travel to your new home.
     
  6. Stay in your current home as much as you can while movers are there.

All this before you actually move into your new home.  After?  See part 2 next week.

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

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Do You Have Enough Homeowners Insurance?

Friday, October 10, 2014
by The Hat Team

The news lately has been filled with reports of tornadoes, hurricanes, floods, and fires, each of which has resulted in untold loss of lives, homes, and possessions.  As we watch with horror the impact these disasters have on those homeowners insuranceaffected, it is only natural that we ask ourselves,” Would I be able to sustain such losses?  Would my homeowners insurance policy cover the costs of rebuilding my home?

The National Association of Insurance Commissioners (NAIC)) recommends that you use your annual renewal notice or any improvements to your home as a reminder to touch base with your agent or insurer to recheck how much insurance you really need.  Do you have sufficient coverage for rebuilding and replacement? Amy Bach, executive director of United Policyholders, a consumer advocacy group, urges homeowners not to blindly trust that their home insurer has all the bases covered.

With fluctuations in the real estate market, coverage equal to the current replacement cost (excluding land), is advisable.  The first step in getting adequate coverage is to establish your policy’s dwelling limit. Your target number is the full-replacement cost of your home and its possessions. The dwelling limit bears no relation to your property’s market value, its appraised value, or its assessed tax value. And don’t mistake the cost of new construction for the cost to rebuild, which is more expensive because of factors such as debris removal and higher demand for materials and labor after a catastrophe,

(You can get a pretty good idea of what it would cost to rebuild your home by using an online calculator, available at sites such as HMFacts.com ($7) and AccuCoverage.com ($8).

It’s a good idea to purchase guaranteed replacement coverage, meaning the insurer will pay whatever it costs to rebuild your home with materials of like kind and quality, without deducting for wear and tear. Avoid actual cash value coverage, which pays only the depreciated value of your home.

Check also on your need for flood insurance, even if you don’t live near a body of water, since policies vary in their coverage of many types of water damage.

And lastly, it goes without saying that you need to update the inventory of your possessions at least annually since it is not only a record of the contents of your house and their value, but also a good indicator of whether you have enough coverage.

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

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