Real Estate Information Archive

When you are searching for a new home, location is one of the most important factors to consider. You might love a house, but if it’s not in the right neighborhood, it may not be the right house regardless of how much it appeals to you.  So, before you start scrolling through home listings online, it is smart to have an idea of WHERE you want to live. 

Here are some things to consider when searching for the right neighborhood:

1. You may have heard this saying before: “It’s better to have the worst house in the best neighborhood than the best house in the worst neighborhood”. While nobody really wants to live in the “worst” house anywhere, there is some good logic behind this statement. If you ever plan to sell your home, its value will be impacted by the surrounding homes in the neighborhood.  For that reason, you will have better resale value if you are surrounded by homes that are like yours.  So, it is a good idea to research home values in the neighborhoods that appeal to you.
    
2. How important is convenience to you? Some people prefer living in more rural areas, but others desire proximity to things like major interstates, shopping areas, medical facilities, and schools. Before you start your home search it is important to decide how much convenience matters to you. In addition, you may want to think about the fact that having a home that is convenient to highways and such can have a positive impact on your resale value.
   
3. Are home values rising or falling in the neighborhood? If a neighborhood has home values that are climbing, that is a positive indication that it is a good place to buy.  However, if a neighborhood has stagnant or falling home values, it might not be the best place to look for a home. Many things can have an impact on home values; for example, if an area is growing with new businesses, the career opportunities involved can lead to rising home values in the area.
    
4. Does the neighborhood have an HOA? (Homeowners Association)?  Some people love an HOA. They appreciate how it protects home values by establishing rules for maintaining the appearance of the homes and neighborhood. They also enjoy perks such as a neighborhood pool and clubhouse, parks, and walking trails.  However, for other people, an HOA is a deal breaker. They do not care for the rules and regulations (and payments) that come with it. HOA regulations and costs vary from neighborhood to neighborhood, so it is important to research them before you decide to live in a community with an HOA.
    
5. How are the schools rated? Whether you have children or not, the school system is an important factor when choosing where to live. If you plan to send your children to public school, you will want to live where schools are highly rated. You may think that if you do not have kids in school, it doesn’t matter how the school system is rated. But that thinking is a mistake. The truth is that the rating of a school system can have a huge impact on your resale value; positive or negative.
    
6. How safe is the neighborhood? Safety is important to everyone. Nobody wants to live in a neighborhood that is not safe. You can research crime statistics for neighborhoods online. If you are relocating to a new state and you are not familiar with the area, an experienced local Realtor is a great resource to help you determine what areas are safe for you and your family.

There are so many factors involved in the home buying process, but determining the right location is a decision that requires thought and research. Once you have found the right place, then you can start searching for the right house!

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

Photo Credits: proptiger.com, foxroach.com, bendrelocationservices.com

Deciding to buy a home is exciting. But it can also be overwhelming, especially for first-time homebuyers. There is so much to think about! Before you start your home search, you should find a mortgage lender who can help walk you through the home-buying process.

Follow these mortgage tips and you will be prepared to purchase the home of your dreams!

• FIND THE BEST LENDER

With a little homework, you will be able to find the best lender to help walk you through the home-buying process. Get recommendations from friends and family or from your Realtor. Interview lenders. Find out what their closing time averages are and look up customer satisfaction rates. This is likely the largest financial investment you will ever make, so be sure that the lender you choose is right for you both personally and financially.

• DETERMINE HOW MUCH YOU WANT TO SPEND ON A HOME

There is a difference between what you can afford and what you are willing to spend. Many factors play into this decision. Your lifestyle, the size of home you’re looking for, and other expenses should all be considered. You might be shocked by what the numbers say. Chances are you won’t want to spend as much as you qualify for. So, work out a budget first and don’t overestimate what you can afford.

• GET PRE-APPROVED FOR A MORTGAGE LOAN

The last thing you want to happen is to find the perfect home and not be able to make an offer because you haven’t been pre-approved for a loan. Taking the time to do this now will save you time and grief in the future.

• STOP SPENDING

Now is not the time to make large purchases. Avoid taking out new lines of credit. Don’t purchase a new car or apply for a new credit card. Make sure that you are not adding to your credit card balances. Remember that your Debt to Income Ratio is a vital piece of the mortgage puzzle and can be a deal breaker if you go over your limit.  Save large purchases for after closing day.

• DON’T RUSH!

Now that you’ve got all your ducks in a row, the fun begins. Take your time searching for the right home. This is a financial investment that you will be living with for a long time, so don’t settle. Professional Realtor Sandra Nickel and her team can answer any questions you have about purchasing your first home. 

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

Photo Credits: loans.com, realtor.com, schlage.com

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.

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 your 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.

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

Photo Credits: fairfield-park.com, calbizjournal.com, rd.com

House hunting can be overwhelming sometimes, especially when beginning the search for your first home. Chances are you might get caught up in the process and important details might slip by you. While the number of rooms, condition of the kitchen, and size of the yard are important, there are other things to consider before you make an offer. 

Here are things to look for to get your house hunting off to the right start:

• Location

They say that the 3 most important things to look for when buying a home are location, location, location! While a home might not be perfect, loving your neighborhood and neighbors can make all the difference in living with imperfection. And face it…you can change almost anything about your house, but you can’t change its location or the people living nearby. When you go house hunting, make sure to consider the home’s proximity to your work, the appeal of the neighborhood, where in the neighborhood the home is situated, ease of access, noise from neighbors, traffic, pets and access to parks, shopping, schools and public transportation.

• Home Placement

Beyond location, look at how the home is situated. If the home is on a hill does it have a view, a walkout basement, or lots of stairs to climb? Do neighbors' windows look directly into the home? Is the yard suitable for kids, pets, gardening, or other uses? Is there safe access to the home? These are all important questions to ask yourself when determining if it is the right property for you.

• Check Out the Neighborhood

While it’s important for your house to meet your expectations, it’s equally important that the neighborhood meets them too. Take a drive around the development you are interested in on weekdays and weekends, during the day and in the evening. Are the homes in good repair? Are yards kept clean and tidy?  Is the neighborhood safe enough for people to walk, run or bike?  Are there children playing outdoors?

• Consider a Home’s Curb Appeal

You want a home that is going to reflect your lifestyle. Do you live a casual, laid-back life? Then you probably won’t want a formal Victorian or Tudor style home.  A simple, contemporary home might better suit you. Pay close attention to exterior features. Think about maintenance. For example, a brick home is easier to maintain than one with siding. Do you like working in the yard? If not, you might not want a house with extensive landscaping. Is the roof in good condition?  Attention to detail will help you choose the home with the best curb appeal for you.

• Size and Floor Plan

You may be thinking about buying your dream home. But is your dream home practical?  Do you need 4 bedrooms and 4 baths when you live alone? A spacious home may provide the extra room you've always wanted for a home office or a theater room, but you'll pay higher heating bills and have higher taxes. Additionally, it will take more furniture to furnish and money to decorate. Think about how the new home space will be used and whether it will fit your lifestyle now and in the future.

• Bedrooms and Bathrooms

Decide how many bedrooms and bathrooms you will need and only look at homes that meet that criterion. You don’t want to fall in love with what is otherwise a perfect house if it doesn’t provide the space needed for your family. It is smart to consider counting an extra bedroom in that number so that you have extra space for a home office or guest room. If you think you might add on to the home later, make sure you consult an architect who can advise you on space planning and regulations.

• The Kitchen

For many people, the kitchen is the heart of the home. Don’t settle for a home with a kitchen that doesn’t work for you. Yes, you can remodel later, but at great expense. If it is an easy fix like replacing cabinets or countertops, get a price quote before committing to the house so that you will know if it is within your budget to take that on.

• Closets and Storage

Older homes often have small closets and lack storage space. As you’re looking at a home ask yourself where you will store your belongings. Tiny closets don’t have to be a deal breaker. There are ways to maximize storage without renovations. Newer homes tend to have lots of storage, and you may sacrifice living space while having more closet space than you need.

• Windows and Lighting

While looking at a home keep in mind your preferences regarding light and privacy. Do you want a lot of windows to provide bright, sunny rooms?  Pay attention to the locations of electrical outlets and fixtures to make sure they will meet your lighting needs.      

• Finishing Touches

Even a simple home can look spectacular with the right moldings, hardware, and a fireplace. If elements like these are important to you, look for them while house hunting. 

You may not find everything you want in one house but keep this list handy and you are more likely to find the home that best suits your needs and desires.  Happy House Hunting!

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

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Whether you are a DIY expert or plan to hire experts to “fix” your home, buying a fixer-upper is a risk. But often it is a risk very well worth taking! It just depends upon finding the RIGHT home to fix up.

Here are things you should consider before you make the decision to invest your money, time and energy into fixing up a house:

• Consider the Price Carefully

A fixer-upper should have a fixer-upper price. That may seem obvious, but you might be surprised by how much sellers think a home is worth. Try not to have a “this is the one!” moment with a house when the listing claims it just needs a little TLC. Do your research first. An experienced Realtor like Sandra Nickel can help you find out what similar homes in the neighborhood have sold for. You are also going to want to be aware of what types of homes they are so that you don’t over invest in luxury improvements that price your house right out of the neighborhood for future resale. When determining your budget, base it on the market value of the homes in the neighborhood.

• Determine What Improvements Are Needed

How much work do you want to do? How much do you want to spend? Ideally a fixer-upper will offer many opportunities for “instant equity”, meaning that you would make money on the home if you immediately sold it after fixing it up. Some fixer-uppers will just need cosmetic fixes like painting and landscaping. Others may require large renovations. You will need to carefully consider the potential cost of improvements along with the sale price of the home so that you don’t get in over your head.

• Research Which Projects Will Give You Instant Equity

Will you have to hire a professional to complete the projects? If so, will the cost of that outweigh the money you might get back in instant equity? While many home improvements add some equity, some add a lot more value than others. But they are usually the types of projects that require the help of a professional. Here are some examples of projects that will give you excellent return on investment even if you pay a professional to complete them: new roof, hardwood floors, and insulation.

• Be Sure You and Your Family Can Cope with the Disruption

A fixer-upper takes time and patience. If you must move into the home to complete the renovations, you may be living in chaos for a while. Also remember that not all projects go smoothly and there may be setbacks and unexpected issues. Can you handle that emotionally? It’s important to consider how the disruptions will affect you and your family before deciding to take on a fixer upper.

Buying a fixer-upper should never be a spontaneous decision. It needs to be well thought out. So, do your homework first to determine your budget along with how much you are willing and able to take on before jumping into a fixer upper. With the proper preparation, you will end up with a beautiful home that is worth much more than you paid for it!

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

Photo credits: moving.com, nextavenue.org, blog.topknobs.com

Closing on a home is the final step to the home selling/buying process. It can feel stressful and overwhelming, especially to first-timers.

Here are some things that most often go wrong with home closings, and how to avoid them!

• WALK-THROUGH

A walk through of the home is done before closing to confirm that everything is as it was when you signed the purchase agreement. It’s also the time to make sure any repairs that you requested were completed. If you get to your walk-through and discover that the owner took the washer and dryer they had agreed to leave or there were agreed upon repairs not done, your closing will definitely be put on hold. Money may be placed in escrow to cover the costs and deadlines may be extended.

• FEES

You will want to look at a copy of your HUD-1 Settlement Statement before going to your closing so that you can look over all the fees and ask questions should you have any. Fees on the statement will include those from your lender, closing attorney, city, insurance, surveys, and transaction fees among other things. You don’t want to get all the way to your closing and find out there are fees you weren’t aware of which may delay proceedings.

• TITLE SEARCH

Make sure the title search is completed with plenty of time to deal with any issues that may arise. A professional title examiner should be utilized by your closing attorney to be sure there are no defects on the title that would prevent the property from being sold. If the title search is done at the last minute and there are problems, it might take a long time to fix, thus holding up the closing.

• WIRE TRANSFER

The wire transfer of funds needs to arrive within a specific window of time for closing.  An issue with the wire can hold up closing. It’s vital to check with your lender and closing attorney to be sure that all parties have the correct wire information and timelines.

• CLOSING PACKAGE

A common problem that delays closings is the Closing Package not being ready. At the end of the loan process, there are a lot of loose ends that must be tied up and they can sometimes cause delays. Timing is everything. You may be scheduled to close at 11:00 AM, but if your package isn’t ready until 2:00 PM and your lender and attorney has other closings scheduled, your closing may be postponed to the next day.

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

There was some good news for buyers this week as mortgage rates continued a recent downslide. So, if you are questioning whether you should buy or rent a home, now may be a great time to lock into a rate.

Buying is often considered to be financially better than renting over the long run because your mortgage payments build equity in your home, which you will eventually own, while rent only goes toward the upkeep of your home and the pocket of your landlord. That is just one reason buying is better than renting. 

Here are some others:

• YOU CAN DO WHAT YOU WANT WITH YOUR PROPERTY

Making home improvements will be your choice…from colors to paint the walls to light fixtures to types of floors, you won’t need permission from a landlord to make changes.

• TAX BENEFITS

Tax deductions are a great perk of home ownership.

• STABLE MONTHLY PAYMENTS

Rents can go up, but with a fixed-rate mortgage, your monthly payments won’t change.

• FORCED SAVINGS

Renting might seem less expensive, but would you actually save the money you don’t spend on rent?  Since your mortgage payments are building equity in your own home, which you can later sell for profit, it’s like a forced savings.

Using a Rent vs. Buy Calculator you can see how buying is a better financial option than renting. For example, after 4 years, the cost of homeownership (down payment, mortgage, taxes, etc.) for a $300,000 home would be $143,564. The total cost to rent the same house for that period would be $102,022. Renting would leave you with $41,543 in your pocket (including the money you didn’t spend on a down payment). So, it looks like renting would be better financially, right? 

But wait…not so fast.

Let’s look at what you gain over the same 4-year period if you buy. After 4 years, your home will have $79,736 in equity. However, if you instead rent and invest your down payment and the other money you save at a 6% return rate, it will earn around $8,351 in 4 years. So, if you look at your gross costs, equity, and investment potential, it’s better for you to buy than rent if you plan to live in your home for more than 3 years and 9 months.

The bottom line is, if you’ve been thinking about buying a home in the Montgomery area, don’t wait! Start investing your money in your own home vs that of a landlord today!

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

Photo credits: ramseysolutions.com, theguardian.com, getarate.com, familyhandyman.com

Purchasing your first home is a huge milestone…and not one that should be taken lightly. It is a big commitment, and you want to make sure you get it right. Educating yourself before you begin the home buying process will help you find the right property and procure the financing for it. 

Here are some things you should know as a first-time homebuyer:

PEOPLE INVOLVED IN THE HOME BUYING PROCESS

Entering the home buying process for the first time might feel a little overwhelming. You will have a lot of questions, but don’t worry, there will be people who will guide you through. The first thing to do is to find an experienced, professional Realtor. Your Realtor will assist you in finding your starter home, making an offer, and negotiating with sellers. Another person you should meet with prior to starting your home search is a mortgage lender. Your mortgage banker will help you complete your loan application along with determining the amount you qualify for.

Getting preapproved for a mortgage is an important step that will set you on the right course for buying your first home.

STARTING YOUR HOME SEARCH

I’m sure you’ve heard the saying “location, location, location” in relation to real estate. It exists for a reason. Because location is one of the most important aspects in choosing a home. The first thing you must do when searching for your starter home is determine the area you want to live in. You should take many things into consideration when making this decision. Do you want city, suburban, or country living? What is the reputation of the school system?  Are there shopping, dining, and entertainment activities nearby?  The answers to these questions aren’t just important for you when you are living there but may also have an impact on resale value. Remember, this is your starter home; not necessarily your forever home. So, you should take resale value into consideration when choosing the location. Once you have determined WHERE you want to look, you can create a list of what you are looking for in a home. You may have to compromise on some things, but going into your search knowing what you want will make things less confusing. 

FINANCIAL IMPLICATIONS

When buying your starter home, there may be some expenses that you didn’t anticipate. Don’t risk being blindsided by unexpected expenses. Do your research and make sure you know what you are getting into. Here are some costs you may not have thought of:

• Closing costs
• Home inspection
• Moving expenses
• Setting up your new house

Remember that your Realtor and Mortgage Banker are there to answer questions you may have, so don’t hesitate to take advantage of their expertise!

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

Photo credits: pwcva.gov, findmywayhome.com, financebuzz.com

Spring is approaching and with it, prime time for real estate transactions. Many people will be looking to purchase homes meaning home buying will become a “competitive sport”. This means that you will need to stand out to sellers if you want to “win” the house of your dreams. One way to show that you are serious about buying your dream home is to get pre-approved for a mortgage before starting your search. In fact, regardless of how competitive the market is, getting a mortgage pre-approval will give you the security of knowing what your true budget is, allowing you to know if a desired home is within your reach.

One of the many advantages of working with a local Realtor is that many have relationships with lenders who will be able to help you with this process. Once you have chosen a lender, you will need to fill out their loan application and provide them with vital information regarding your credit, debt, work history, down payment, and residential history.

There are “5 Cs” that aid in determining the amount you will be qualified to borrow:

1. Capacity: Your current and future ability to make payments.
2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash.
3. Collateral: The home or type of home that you want to purchase.
4. Character: Your history of paying bills and other debts on time.
5. Conditions: Current interest rates and amount of principal influence the lender’s likelihood of financing the borrower.

Getting pre-approved not only shows sellers you are serious, but also speeds up the process of completing the purchase once your offer has been accepted.

Even before you contact a mortgage lender, it’s a good idea to look at your credit score to see where you stand.

Here are some steps you can take to improve your credit score:

• Check your report for errors. If you find errors, dispute them with the credit bureaus. Having errors removed can improve your score.
• If possible, pay down balances on credit cards.
• Resolve collection accounts. If you have any accounts past due, it will have a negative effect on your credit report.
• Open a secured credit card. If your score is low, this can be an effective way to raise it.

Purchasing a new home is exciting but can also be stressful. Getting pre-approved for a mortgage will help alleviate some of that stress. So, if you are in the market to buy a house this spring, contact mortgage lenders now and get the process started!

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

Photo credits: fortunebuilders.com, divorcelendingassociation.com, realtor.com

Buying your first home is exciting. After getting approved for a mortgage loan, working with a professional Realtor and finding your dream home, it’s time to settle in and start enjoying your new digs. Then BAM!  The shock of an unexpected expense slaps you in the face. Don’t let that happen to you. Being informed about the possible expenses of being a homeowner will not make spending the money any more fun, but at least you will be prepared. 

Here are some ancillary costs of homeownership that you should be aware of:

1. CLOSING COSTS

When closing on your mortgage you will be presented with a long list of costs: mortgage taxes, lender application fees, attorney’s fees, title insurance, recording fees and any potential real estate tax reimbursements if the seller has paid them up front. Altogether, closing costs are an average of 2 to 5 percent of the total cost of the home. They will vary from state to state.

2. HOME MAINTENANCE
   

Now that you are a homeowner, you are solely responsible for the maintenance and upkeep of your property. Everything from yardwork to cleaning; pressure washing to clearing the gutters…it’s all in your hands and on your dime. Oh…and fixing things. Yeah. When the AC isn’t working or there is a leaky faucet, you will be footing the bill for repairs. This all sounds a bit overwhelming, but the key is to be prepared. Go into your home purchase knowing that you will likely be spending about 1% of the purchase price of your home on maintenance annually.

3. PROPERTY TAXES

Property taxes vary by state and can also vary based on city, ordinance, and even specific house. You can utilize a Property Tax Calculator to get an idea of what your taxes will be when planning for your expenses.

4. UTILITIES
   

If you’re coming from a rental where your utilities were included with the rent, you may not have considered how much you will need to set aside to pay for electricity, gas, water, and sewage costs. Added to internet, cable and phone bills, it can be quite a chunk of change. Planning for utility costs is crucial to making sure you can afford to live in a home of your own.

5. HOMEOWNER’S INSURANCE
   
   When you get a mortgage, you must get homeowner’s insurance as well. Be sure to do your homework and shop around for the best possible price. You can get discounts for things like security systems, working from home or bundling coverage for your home with your auto insurance policy. Educate yourself on what your insurance policy covers so that you’re not left disappointed when you must pay for something you thought would be taken care of.

Don’t let these expenses scare you off from purchasing a home. Again, the key is to be aware of them going in so that you won’t be caught unawares when they come up.

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

Photo credits: genisyscu.org, hometowninspect.com, energyathaas.wordpress.com, smt.greenwaymortgage.com