Real Estate Information Archive

It seems that negotiation has become a lost art in the world of real estate, and that’s unfortunate because the truth of the matter is, if you don’t ask…you don’t get. While sellers want the highest price and buyers want the best deal, they must meet somewhere in the middle for the deal to close. Negotiation is a crucial part of selling or buying a home because it is the largest asset people own and there is a lot of money at stake. Here is a simple guide for what sellers and buyers might ask for in real estate negotiations:

• Price

Negotiating the best price means different things for sellers and buyers.  The seller wants the highest price and the buyer wants to pay as little as possible.  For a successful transaction, they must compromise and come up with a price that is acceptable to both.

• Closing Costs

Prepaid closing costs are paid by buyers for their mortgage.  These are funds that the mortgage lender holds in escrow for expenses like taxes and insurance.  A buyer may ask a seller to cover some or all their closing costs either with a flat dollar amount or up to a percentage of what’s an allowable contribution for a lender.  If a buyer asks the seller to do this, they are likely going to pay a higher asking price. What is Escrow and Why is it Needed?

• Closing Date

Sometimes sellers want to get out of a home quickly because they need the money from that house they are selling to put toward a new real estate purchase.  The closing date will also affect the buyer’s monthly cash-flow because when a buyer closes on a house, they skip the next month’s mortgage payment, therefore they may want to negotiate to close at the beginning of a month.

• Financing Contingencies

When there is a financing contingency in place for a real estate transaction, it can tie up a seller’s property for a required 30 to 60 days.  For this reason, many sellers prefer buyers coming to the table with cash offers. If you are competing with cash buyers, you can shorten the closing timeline substantially by getting pre-approved for a home loan prior to making an offer.   Mortgage preapproval shows that your finances are in order and you can afford the home.  5 Things You Need to Be Pre-Approved for a Mortgage

• Home Warranty

As a buyer, you can request a home warranty.  As a seller, you can offer one.      This home protection plan covers things like appliances and systems such as the hot water heater or air conditioning, in the event they need repair or replacement.

• Leaseback

The moving process is stressful and labor intensive.  Sometimes a seller will need extra time to get into their new home.  When this happens, buyers can offer a zero-cost rent-back for 30 to 90 days to persuade the seller to accept their offer over others. 

• Home Repairs

With a home that needs a lot of updating there comes ample opportunity for negotiation. Buyers need to consider the cost of bringing the home up to current standards and use the estimate of that cost to request a lower asking price.  The seller, on the other hand, can specify that the house is being sold “as is” and not offer any repairs.

• Appraisal Contingency

A seller can push for a buyer to waive the appraisal contingency. However, if for some reason the appraisal falls short of the expected amount, buyers need to be prepared for the amount they might have to pay should the bank only be willing to lend them money based on the appraised value. How an Appraisal Contingency Can Protect You

• Furniture

Personal property such as patio furniture, window treatments and chandeliers is all up for grabs. The buyer can ask for these things to be included in the contract.  Sellers need to determine what they are willing to leave behind.  And any exclusions need to be specifically listed in the contract as well.

• Appliances

Depending on the market, sellers don’t always leave every appliance for the buyer.  They may include the dishwasher, stove and built in microwave in the contract but not the refrigerator, washer and dryer.  Sometimes they don’t want to give everything away up front so that they can use these as items for negotiation.

• Inspection

When buyers waive inspection, they often find themselves with "buyer's remorse", but they can try to shorten the time frame for inspection, from ten days to five.

• Condo/Co-op Assessments

These are fees that are used to maintain common areas in a community. If there is an open assessment, it can become a negotiation between the buyer and seller as to who will pay for it.

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

You’ve found the perfect home, and now it’s time to make an offer.  This is a decision that should not be taken lightly. It requires some thought and strategy. It’s vital that you plan carefully and have your finances in order prior to making an offer on a home.  Here are some things to consider when you are preparing to make an offer:

1. GATHER INFORMATION - While your Realtor can assist you in deciding on an offer price, it’s important that you understand what you are getting into. This is likely the largest financial investment you will make, so you need to know what is going on. Take advantage of your Realtor’s expertise and learn about the Current Market so that you will be aware of what’s going on in your area. Don’t be afraid to ask questions if there is something that you don’t understand.
    
2. GET PRE-APPROVED - Before you make an offer, get pre-approved for a mortgage loan.  Not only will this help you determine how much you can spend on a home, it will also make you appeal to the seller because they will know that you have already been financially vetted and you can afford the home.  That means the sale is less likely to fall through. How to Get Pre-Approved for a Mortgage Home Loan
    
3. TURN ON THE CHARM - People can get very sentimental when it comes to selling their homes.  Being friendly and showing a seller how much you love their home can sometimes influence them to choose you over other prospective buyers. Write a letter letting them know the reasons why their home will be the perfect home for you and your family. 
    
4. DON’T MAKE AN INSULTING OFFER - While everyone wants to get the best deal possible, a lowball offer is risky. You might end up offending the seller and creating a situation where they just say no and are unwilling to negotiate.  This one reason why it’s important for you to understand the market value of the home. Allow your Realtor to guide you in deciding what a reasonable offer is.  You can still offer lower than the asking price and leave room for negotiation.
    
5. NEGOTIATE OTHER THINGS BESIDES MONEY - Not all real estate negotiations involve the home price.  You can ask for things like a home warranty, home improvements to be made, closing costs, and new appliances.  If the seller will only accept the asking price, but is willing to negotiate other terms, you can still come out with a great deal on your new home. 5 Things to Negotiate When You Buy Your First House
    
6. TRY TO BE FLEXIBLE - Things may come up that require some flexibility on your part. For example, the seller might need continue living in the home for a month or two while they look for a new home. Your willingness to rent the home to them for that time period could make you stand out over other buyers.

Making an offer on a home is not just about the money; it’s also about appealing to the seller while at the same time doing what is right for you. It can be complicated, but it is worth it when the right house comes along!

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

When you are purchasing a home, especially if you are a first-time homebuyer, it’s easy to become overwhelmed by all the things you need to think about.  Something like title insurance is probably not even on your radar. It’s a fee that will appear on your closing document and chances are you don’t even know what it’s for.  If that’s the case, we’ve got you covered.  Here are five things you need to know about title insurance:

1. Like other insurance policies, title insurance is something that protects you financially should there be a loss.  In this case it protects you with regard to property ownership. It not only ensures that the property you are purchasing will be legally transferred to you from the previous owner, it also protects you from possible future Title Defects.  There isn’t a monthly premium with title insurance; it is a one-time fee paid at closing.  This one-time payment will protect the insured from title defects for the life of the loan.
2. Title insurance is important because while a title research company will look into the history of ownership of the home to be sure there are no title defects, there is always a possibility that an issue could arise later due to several reasons such as improperly recorded documents, mistakes in ownership history or other legal matters that occurred prior to your purchase of the home.
3. There are two types of title insurance; one that protects the home owner and one that protects the mortgage lender.  Your lender will require that you purchase the lender’s policy to protect them from any loss should a problem arise.  The owner policy protects you and will cover legal fees or other losses that occur due to a title defect. You are not required to get an owner policy, but it’s well worth it to have it in place just in case something goes wrong in the future.
4. It can be frustrating to pay for insurance that you might never use, but it is risky to not have it in place. Think of it as paying for peace of mind.  With title insurance, you will be protected from catastrophic circumstances should a title defect be found.  You could not only lose a lot of money; you may even lose your home.
5. Title insurance is purchased when closing on your home. You have the option of buying it from whatever company you choose, but if your lender has a preferred company, you may find it less expensive to add your owner’s policy onto your lender’s policy. Average Cost of Title Insurance 2019

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 today at 334-834-1500!

Photo Credit: wsj.com

If you turned the page on your calendar this morning and realized Valentine’s Day is only 2 days away, we’ve got you covered! Here are some Valentine's Day date ideas that range anywhere from the traditional romantic dinner to the out-of-the-ordinary.

1. Romantic dinner at the City Grill

The City Grill is a Montgomery staple. It is a beautifully appointed restaurant and a perfect choice for a romantic dinner. Reviews refer to the “City Grill as having the best menu in town. The wait staff is always good and knows their stuff. Nice appetizers and great deserts compliment some truly excellent main courses.”

2. Day at the Montgomery Zoo

Maybe a romantic dinner isn’t your thing but your special someone is an animal lover. If so, consider a day at the Montgomery Zoo. See the Zebras graze on the plains while elephants roam nearby. Discover over 500 animal residents from five continents, all housed in natural, barrier-free habitats. Consisting of over 42 beautifully landscaped acres, you’ll enjoy magnificent views of exotic wildlife and endangered species. Stroll through the Zoo on your own or ride on the miniature train, the Montgomery Zoo is a sight to see!

3. Scenic Boat Ride Down the Alabama River

The Harriott II Riverboat offers a wonderful dinner, dancing, and a romantic cruise down the Alabama River. This is a one of a kind experience and will show your loved one just how much they mean to you. The Valentine Day special includes a two hour intimate dinner cruise, surf and turf dinner, roses, commemorative champagne flute, live entertainment and cash bar access. This special is available Feb 14, 15, and 16.

4. Weekend at Gorham’s Bluff

Gracing the banks of the mighty Tennessee River, Gorham’s Bluff offers gorgeous views as far as the eye can see. The Lodge features splendid views of the Tennessee River form its expansive porch, rooms with stone fireplaces and a restaurant with candlelight dining.

However you celebrate, enjoy being with the special person in your life and Happy Valentine’s Day!

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 today at 334-834-1500!

Investing in real estate is a time-tested way to successfully build wealth.  While there are many ways to invest your savings, investing in real estate is unique in that it offers cash-flow, liquidity, profitability, and tax and diversification benefits that other investments do not.  If you’ve been thinking about how to build wealth for your retirement, you would be smart to consider investing in real estate. Diversification and Real Estate Investing

There are four primary ways to make money in real estate:

1. Appreciation. When a property increases in value, you have real estate appreciation. Sometimes is happens due to changes in the market and other times it may be due to upgrades made on the property.
2. Cash flow income (rent). Cash flow income is a nice perk of real estate investment that you don’t have in other types of investments.  It is generated when you purchase a home or apartment building or an office building and rent them out.
3. Real Estate Income.  This is income earned by people who earn commissions through real estate transactions or buy property managers who oversee the operations of rental properties.
4. Ancillary Real Estate Income - This can be a huge source of profit.  Things like application fees, vending machines and laundry facilities are money makers that go beyond the monthly rent.  Increase Your Bottom Line - Supplementing Rent with Ancillary Income

While there are certainly Risks of Real Estate Investing, there are a lot of benefits that outweigh the risks:

1. Real estate is something that people who grew up lower to middle class are familiar with.  They may not have been exposed to things like stocks and bonds, but they likely know the importance of owning a home.  Buying a home is an investment that is reachable for them.
2. Having an investment that you can see; something that is tangible, is psychologically important.
3. You have the control in a real estate investment.  You don’t have to worry as much about being defrauded the way you might when entrust your money to someone else to invest for you.
4. You will reap the benefits of tax advantages.
5. You can Leverage Your Debt to buy more real estate and increase your net worth.

Whether you are thinking of purchasing a home for yourself and investing in your own future by building equity or you are considering buying property to rent out, investing in real estate is great way to build wealth!

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 today at 334-834-1500!

Wallpaper has been out for a long time, but as most trends do, it is making its way back into homes everywhere.  Wallpaper designs have changed a lot and unlike the dark floral prints of the 80s and 90s, new wallpaper looks more like murals or custom wall art.  So, if you’re thinking about a new look for a room (or several rooms) in your house, you may want to consider using wallpaper instead of paint.  Here are some current popular wallpaper trends to choose from:

• Eastern Influence - Think Japanese and Indian designs with hand finished patterns; the perfect backdrop for classic decorative designs and geometric prints.

Photo Credit: pinterest.com

• New Retro - Everything old is new again! Geometric patterns such as chevron, honeycomb, and zigzags are back in vogue in retro colors like orange, teal, and mustard.  Use as the backdrop for your funky mid-century modern furnishings.

Photo Credit: wordpress.com

• Traditional Florals - Florals inspired by watercolors and oil paintings have been given a more modern look with oversized prints. Plain linens and lush velvets create a beautiful contrast to floral prints.

Photo Credit: archiexpo.com

• Modern Rustic - Influenced by mother nature, modern rustic wall décor is a beautiful collection of faux textures. Cover your walls with paper that represents the natural beauty of the untamed wilderness and features raised patterns that mimic elements like brick, bamboo, limestone, cork, rock, and wood.

Photo Credit: blackforestdecor.com

• Quiet Patterns - Create a peaceful, calming landscape with nature-inspired prints in the modern-country style featuring layered designs in a color palette that includes pale tints of gray, taupe, pink, and blue.

Photo Credit: pinterest.com

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 today at 334-834-1500!

With new trends endlessly popping up, it can be challenging to decide what home design projects are worth your time and money.  It will serve you well to research what trends are timeless and what trends have gone by the wayside before investing in updating your home, especially if you are getting ready to put it on the market.  To simplify that process for you, here is a list of five of the hottest home design projects for 2019!

1. Vintage Lighting - Think less exposed lighting and more pendants and sconces. Brass and copper finishes will also be popular.  Changing light fixtures is a great way to change the whole look and feel of a room.
    
2. Millennial Pink - Already a hit in the fashion world, this trendy hue is making its way into home décor in unique and creative ways in 2019.  This serene color softens any room and mixes well with other colors and metals.  15 Millennial Pink Accessories for Your Home
    
3. Copper Accents - Say goodbye to rose gold - popular in 2018, and hello to copper for 2019.  The red and orange tones of copper add an earthy hue to any space. Copper Accents
    
4. Bucket Sinks - Sometimes called a “trough sink”, the bucket sink is another vintage design trend that designers believe will make a huge comeback in 2019.  Farm-house inspired, these sinks will add a touch of nostalgia and personality to your kitchen and/or bathrooms.
    
5. 70s Chic - You may have heard the saying “everything old is new again”, and that is so true for 2019!  Along with many other old design trends coming back in style, such as velvet and geometric patterns, the 70s era is going to be well represented in the new year.  Warm palettes, funky textures and abstract silhouettes will make your home feel groovy!

These are just a few of many Home Design Trends that can give your home a whole new aesthetic, and if you’re selling, make it more desirable to buyers in 2019!

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 today at 334-834-1500!

Photo Credit: trenddesignbook.com

I know you probably just finished pulling out all your holiday decorations, but it’s not too early to start thinking about how you’re going to put it all away.  If you’re like me, every year you tell yourself “this year I will be super organized when I put my holiday decorations away!” Also, if you’re like me, by the time the holidays are over you are exhausted and just want to get the stuff put away as quickly as possible.  Then you go to pull it out the following year and you say,” this year…I will organize it all this year.”  Sigh.  Part of the problem is figuring out how to organize everything. There are lots of Holiday Storage Containers and bags and bins and boxes for sale out there, but that can get expensive!  And let’s face it, just after the gift giving season, the last thing you want to do is spend more money.  But it is possible to organize your holiday decorations without breaking the bank.  Here are some holiday storage hacks to help you get organized this year:

Do you eat eggs?  That may seem like more of an Easter question, but stay with me here. It’s not the eggs you need, it’s the cartons they come in.  They are perfect for storing small, round ornaments.

Keep strings of lights from tangling with this easy hack - wrap them around cardboard before storing them. You can use shoe boxes or any of the many boxes that were likely delivered to your house before December 25 to cut pieces to size for your light strings. Then place them all together in a bin where they will remain safely untangled until next year!

Hang your wreaths year around.  Keep your holiday wreaths in pristine condition by hanging them rather than putting them in a storage bin, where they are likely to get crushed. If you don’t have room in a closet, you can use an inexpensive portable coat rack.  Cover the wreaths with plastic trash bags (garment back style) and hang them on the rack. 

Turn bins you already have into ornament storage bins with this easy and inexpensive hack.  Three words. Red. Solo. Cups.  They aren’t just for parties!  With cardboard, a glue gun and cups you can create a DIY ornament storage bin.  Just glue the cups to cardboard pieces cut to fit and place them in the bin and, voila!  You have the perfect place to safely keep your holiday treasures! Safe Ornament Storage

Shiny beads make a beautiful garland for your tree, but when they are all tangled up in a box you may decide it’s not even worth it to try to untangle them.  This year, save up your plastic water bottles and use them to store your garland.  They will stay untangled and be easy to pull our when you’re ready to put them on the tree again.

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 today at 334-834-1500!

Photo Credit: pinterest.com

So, you think you like modern décor, or is it contemporary?  You may think the two styles are synonymous, but they are quite different.  If you are decorating your home, or if you’ve hired a decorator to do it for you, terminology matters!  It’s important to know the correct words to describe the look you are going for!  Here is how to tell the difference between modern and contemporary home décor styles.

Modern design was developed in the early to mid-twentieth century.  Highly influenced by Scandinavian and German Bauhaus Design, it created a distinct style focused on simple form and function.  Then, Mid-Century Modern  was developed in the 50s and 60s. But for most interior designers, the word “modern” covers both styles.  Modern spaces tend to follow specific style formats that emphasize balance and lean toward natural and warm neutral colors for decorating.

Contemporary design doesn’t refer to any specific time-period. It is dynamic, changing to reflect current popular trends.  It borrows from other styles including modernism, Minimalism and Art Deco. There are many variations in contemporary interior design and color palettes of brown, taupe, cream and white are featured, with splashes of color sometimes found on a single wall, rug or piece of art.

While the main differences between modern and contemporary are significant, there are similarities as well, which is why people often confuse them.  They both embrace simple, clutter free spaces with smooth, clean lines.  Furniture in both styles feature exposed legs, and reflective surfaces such as exposed metals and glass are popular in both. Neither utilizes ornate designs or dramatic elements.

Hopefully this has cleared up some confusion, but if you like elements of both styles, don’t despair.  Mix it up and have fun with it, because at the end of the day, the only style that matters is YOUR style!

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 today at 334-834-1500!

Photo Credit: interiorzine.com                      
Photo Credit: thespruce.com

Pumpkin is very popular this time of year. It seems “pumpkin spice” is everywhere.  But if you’re like most people, you have never ventured beyond the most common way to serve and enjoy pumpkin -  in a pie.  Don’t get me wrong!  Pumpkin pies are great!  But if you love pumpkin, you might be surprised to discover there are a lot of other ways you can enjoy it!  Check out these 6 ways to eat pumpkin (not in a pie):

1. Pumpkin Soup - If you’re looking for a simple way to enjoy pumpkin, then pumpkin soup is the way to go. Nothing says fall like a warm bowl of soup.  Make it from scratch with this Simple Pumpkin Soup recipe!
2. Toasted Pumpkin Seeds - Not only are they tasty, but they are a healthy snack!  After getting the seeds out of the pumpkin, rinse them in a colander. Boil them in a pot of salted water for about ten minutes. Drain the pot and toss the seeds in a tablespoon of olive oil. Add any seasoning to taste. Spread them out on a baking sheet and bake at 400 degrees for about 20 minutes or until the seeds start to turn a toasty brown.
3. Pumpkin Pancakes - Create a sweet and tasty breakfast with these  Perfect Pumpkin Pancakes! This easy recipe is made with ingredients you probably already have at home. And along with pumpkin, fall flavors like cinnamon, ginger, and nutmeg will have your mouth watering for this delectable dish!
4. Pumpkin Dip - If you’re hosting a holiday gathering or you will be attending one, this yummy pumpkin dip is perfect for serving to guests. This quick and easy Pumpkin Dip is light and scrumptious. Serve with apple slices or graham crackers or ginger cookies for a tasty treat!
5. Roasted Pumpkin Risotto - Looking for a more savory pumpkin dish?  Try this Roast Pumpkin and Feta Risotto.  A combination of sweet and salty, this recipe will please most any palate!
6. Savory Pumpkin Hummus - Another savory option, pumpkin hummus is easy to make and healthy to eat.  Just blend a can of garbanzo chick peas with a can of pumpkin, season to taste, and voila! - you have a healthy hummus, perfect for snacking!

So, don’t limit yourself to pie! These are just a few of MANY recipes that include palate pleasing pumpkin. Try them and enjoy all things pumpkin!

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 today at 334-834-1500!

Photo Credit: laferme1794.ch