Real Estate Information Archive

Moving is one of the most stressful things you do in life. Even if you are just moving to a new home in the same town, there are a lot of factors that go into it. So, when you are moving far away to a new place, the logistics can be overwhelming! 

Here is a guide to help you prepare for a long-distance move:

Your first step is to find a local Realtor in the place where you are moving. Ideally, you want an experienced Realtor with a lot of knowledge about the area. Someone who knows about the best neighborhoods, the best school districts and the most convenient locations. Yes, you can browse listings and research the area online, but you will need the expertise of someone who lives in that area and understands the local market and has local contacts that can help you through the process. Plus, by having a professional Realtor on your side, you will get access to the newest listings before they even hit online sites. We know top REALTORS in nearly every market in the country, so call or text us for a referral.

Do your homework.

Your Realtor can provide a lot of great information and assistance, but only if she knows what you are looking for. Depending on where you are moving, you might be able to find informational guide books. But, if not, technology can be your guide. Look up local news stations and newspapers online to see what’s going on in your new town. Find groups from the town on social media and ask questions. Websites like Area Vibes and U.S. News and World Reports are great resources for finding information about a place including its housing market, job market, schools, cost of living, crime rates, etc. You will find that the more knowledge you have about the place where you are moving, the easier your move will be.

Determine your needs and desires.

This sounds like common sense, right?  But sometimes people rush into finding a new home without giving much thought to exactly what they want, whether due to time constraints or excitement. It will pay off to slow your roll and take the time to determine what it is you want in your new home. This will also allow your Realtor to assist you in the most effective way. Do you want to live in a rural, suburban, or urban area?  What style and size house are you looking for? How important is the school district? How close do you want to be to your job? These are just a few questions to ask yourself before starting your home search.

Create a realistic budget.

Once you have researched your new town and looked through some of the listings, you will have an idea what price point you are looking at for your new home. Your local Realtor will be able to assist with this part of it too. You will also want to research the general cost of living in terms of things like gas, groceries, and childcare. Once you have figured out what the anticipated cost of living will be, it will be easier for you to create your buying budget.

Visit if you can.

If possible, you should plan a visit to your new town before moving there. All the online research in the world, while helpful, cannot give you a true feel for a place. Make plans to meet up with your local Realtor and have her show you various neighborhoods based on the needs you expressed. Spending time familiarizing yourself with your new home town will help you make an informed home-buying decision.

Hire a moving company.

A long-distance move is hard. So, if you can include hiring a moving company in your budget, definitely do so! Not only will they help you with the physical moving of your belongings, they will also take care of the transportation logistics. That way, you can focus on getting your new home set up. Research different moving companies and find the one that best fits your needs and budget.

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

Photo credits: movingaheadservices.com, mashvisor.com, updater.com, moving.com

There are many steps to take when purchasing a home, but one of the first and most important is finding the right mortgage loan. Knowing the right questions to ask a mortgage banker is key to your success in acquiring a loan that works for you. It’s vital that you are educated about everything related to your home purchase.

Here are the questions you should ask your mortgage banker to be sure that you are prepared for the lending process:

1. What is my credit score?

When you apply for a mortgage loan, your lender will take a look at your credit history including your credit score, your debt-to-income ratio (DTI), and your liquid cash and assets. Having a high credit score will definitely help you in the securing a loan. It is calculated by taking your payment history, outstanding balances, length of credit history, number of credit inquiries, and types of credit history all into account. Your lender will use your credit score to help determine the risk of granting you a loan.

2. What is the best type of loan for me?

Once your mortgage banker has all the personal financial information you provide, he or she will let you know the loan programs you qualify for. Every loan program has a minimum qualifying credit score and DTI ratio. A good mortgage banker will patiently walk you through each type of loan so you can determine which one you are most comfortable with.
 

3. How much should my down payment be?
   
   Many people believe that you must put 20% down when purchasing a home. That is not always true! You have options. A conventional loan generally requires at least 3% down. But if you want to avoid Private Mortgage Insurance (PMI), 20% is required. There are also some government-backed loans that range from 0-3.5% down. Your lender will go over these options with you thoroughly.
    
4. What are closing costs?
   When you close on your home, your closing costs may include property taxes, homeowner’s insurance, title search fees, and appraisal fees. There might be other costs as well. Basically all fees for services completed involved in the loan process need to paid and are taken care of with closing costs. These items will be itemized and your mortgage banker can answer any questions you have about them.
    
5. When will I close on my home?
   The time it takes to close on a house after getting your mortgage loan application approved usually runs anywhere from 30-50 days. As long as there are no last minute problems, the closing itself (signing the papers) may take about an hour.

Buying a home can be an overwhelming experience, especially for first-time homebuyers, but finding the right mortgage lender and asking the right questions will make the process less stressful for you!

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

Photo Credits: mattersmortgage.com, lansingstatejournal.com, crosscountrymortgage.com

Joining the military was a huge decision that required a lot of thought. Now that you have made the commitment to serve your country, there are other big decisions you will have to make that have to do with the transient lifestyle military life entails. A decision you will have to make each time you transfer to a new duty station is whether you should buy or rent a home.  There is a lot to consider before making this decision.

Why should I buy?

Many may wonder why they should buy when they know they will be moving on in a few years. Well, here is one BIG reason: the VA Loan Program.  A VA Loan is a mortgage loan for service members that is guaranteed by the U.S. Department of Veterans Affairs. The main purpose of this program is to assist active duty military and veterans in the financing of a home purchase. These loans offer advantageous terms that make buying a home an attractive financial option. If you are in the military or you are a veteran, you may be eligible for a VA loan and many of the perks of VA loans are NOT available with other home loan options.

But wouldn’t renting make more sense?

The loan terms of VA loans are definitely in your favor if you want to buy a home, but there may still be times when renting might work better for you. Here are some things to consider when trying to decide whether buying or renting is the best option:

• How often will you be moving? This greatly depends upon what branch of military you are in and what career path you are on. People assume that all military families move every few years, but the truth is, the amount of moves vary widely across the different branches. If you don’t think you will be transferred frequently and will be in a home for five or more years, then buying a home would definitely better suit your needs. However, if you think you will be moving more frequently, renting might be the better option, unless renting your home out when you relocate sounds like something you would be interested in.
  
• Depending on what branch of the military you are serving and what your position is, it may require you to be deployed much of the time.  It may seem silly to buy a home when you will be away so much you might be surprised at the benefits of doing so. For example, say you are single and you’re renting; unless you can sublet, you will be paying rent on a “home” that you won’t be living in for parts of the year.  However, if you buy a home, you will be paying a mortgage and building equity…a great investment for your future!  This is true even if you have a family that stays in the home when you are deployed. Knowing they have a place of their own will give them peace of mind while you are away.
   
• Reselling your home can be profitable depending on how long you have been there. When it comes time to relocate, thanks to not having to make a down payment or pay PMI (perks of that VA loan we talked about above!), you will likely at the very least break even on the sale of your home, if not make a profit. Just be aware of the current real estate market conditions which will determine how long it may take to sell your house and how much you can get for it.  If you are not able to sell right away, you need to have enough money saved to pay your mortgage while also paying to live somewhere else.
   
• Do you want to be a landlord?  If you don’t want to sell the home (maybe you want to move back there someday, or maybe you want to keep it as an investment), renting it out is a great option. But there are challenges to being a landlord, especially when you live far away from your property. You may have to hire a property management company to maintain the home in your absence. Make sure you consider all the costs involved before deciding it it’s financially worthwhile to rent your home out.

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

Photo credits: kiplinger.com, forbes.com

There is a low inventory of homes to buy right now and the competition for homes can be fierce.  If you are looking to purchase a home, chances are you may find yourself in a BIDDING WAR. Be prepared!  Here are six ways to come out on top in a bidding war:

1. Get your finances in order and get as much cash as you can.  It is never too soon to get pre-approved for a loan. In fact, the sooner the better. Sellers will have lots of options and will be leery of those who do not have loans set in stone. If possible, bring cash to the table. Sellers will fear appraisals coming in low and loans falling through, so be prepared to cover the difference with cash.
    
2. Don’t hesitate! Be the first to make an offer, and make it a good one. An insulting offer will put you at the bottom of the seller’s list, so it is not a good time to low ball. Come in at or slightly below asking price so that they know you are serious about purchasing their home.
   
    
3. Escalation Clause.  This is the amount of money the buyer agrees to increase the offer if there are other bids. If you offer the asking price of $400,000 on a house, but it might sell for $450,000, put in an escalation clause stating that you are willing to go as high as $460,000. But know your limit. Don’t offer more than you can handle. Also, make sure the clause states that the seller can only take the winning bid up to a level just above the competing offers. For example, if an offer comes in for $430,000, your bid would be upped to $431,000.
    
4. Get a pre-inspection. It will cost you a few hundred dollars, but it can help you in a super-tight market. If you can make a bid that is not contingent upon inspection, sellers will look favorably on your offer versus the same offer from someone who has a contingency in their contract.
    
5. Think with your head, not your heart. BE SMART! Purchasing a home is an emotional decision, but emotions can get in the way of making wise decisions.  Make sure you have done thorough research of the market: look at the most recent comparable sales, compare prices from a year ago, visit local schools, have coffee at the closest café and speak to potential neighbors. Look at listings nearby. Whatever you do, don’t overpay because you get caught up in the heat of the competition. While the house may seem perfect for you, it is not the only house that will be perfect for you. So, keep a level head and MAKE INTELLIGENT DECISIONS.
    
6. Finally, and most importantly, HIRE AN EXPERIENCED, PROFESSIONAL REALTOR to guide you through the process. The benefits of having a Realtor are priceless because they are experts in negotiating multiple offers, and now more than ever, you need that expertise on your side!

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

Photo Credits: dsnews.com, forbes.com

Let’s face it, selling and buying a house at the same time can be very overwhelming and usually involves some element of risk. However, it is pretty common for people to have to buy and sell at the same time. Per the National Association of Realtors, 71% of repeat home buyers still owned their previous residences, which means it’s highly likely that most of them were both buyers and sellers.

If you are lucky enough to time it right, you may hit that perfect “sweet spot” where you sell your house, make a profit that can be used for a down payment, and then find your next dream home, in that order. But chances are, things might not go as planned and hoped for.

Let’s look at some common challenges you might face, different avenues that might work better for you, and tips for getting through the process with your mental health intact.

• Financial Issues – Chances are you might not have the amount of cash on hand that it takes to make a down payment on a house unless you sell your current home first. If you have found your new dream home and don’t want to risk losing it while waiting to sell, you have some options. You could do a cash out refinance on your current home, take out a home equity line of credit, or maybe sell some investments. But keep in mind that these options have costs and might not work for everyone.
   
• Logistics – With all the details and decisions that have to be made when both buying and selling a home, the logistics of doing both at the same time can be complicated. You have to think about the timing of the purchase and sale and negotiating with both the sellers of your new home and the buyers of your current home; all while trying to organize and pack for your move. An experienced Realtor is vital to help you navigate this process.
   
• Risk of Losing New Home to Non-Contingent Buyer – Buying and selling at the same time comes with risks, one of which is moving forward with a purchase before you have sold your current home. To minimize this risk, many homeowners choose to make their offer on a house contingent upon the sale of their current home. But this brings about another risk, because there is a possibility that your offer may get turned down in favor of a buyer who has made a non-contingent offer.  At that point you may have to decide whether or not you can remove the contingency, which may not be financially possible.

Now let’s look at some tips to help you navigate the buying-while-selling process:

• Determine Financial Feasibility – It’s time to take a good hard look at your monthly disposable income and to ask yourself these questions:

• Can you afford paying both mortgages?
• How long will you be able to afford doing so?
• Do you have enough available cash for a down payment?
• Will you have enough available for down payment after paying both mortgages for a “worst-case scenario” period of time?

If you are living paycheck to paycheck, buying and selling at the same time is not a good option for you, but if you have a steady, dependable income and low monthly debts, you may be able to get through the process relatively unscathed. Talking to a trusted lender is a good idea at this stage because they can help you determine what you can afford to do.

• Consider a Bridge Loan – If you do not have enough for a down payment, you may want to consider a bridge loan. A bridge loan is a short-term loan that uses the equity from your current home to get the necessary down payment to complete your purchase. But you must keep in mind that this is only an option if you are ok with taking on two mortgage payments for up to six months to a year; the typical term for a bridge loan.
   
• Make Satisfying Offers to Both Seller and Buyer – If the thought of two mortgage payments is too much, as mentioned before, you can make an offer contingent upon selling your current home. With that contingency, your contract states that you won’t lose your earnest money if your house doesn’t sell. This eliminates your financial risk, but weakens your offer. If another buyer makes a cash offer with no contingencies, sellers will go after the cash offer every time. Today’s market of low inventory and high demand means that a contingent offer is not as likely to be accepted. One way you can have a better shot at getting your new house is to offer significant non-refundable earnest money, in hopes that the seller will be willing to wait longer for your current house to sell.
   
• Look For a Cash Buyer – If you’ve already decided to buy your next home and sell your current home later, you definitely will want it to sell as quickly as possible. So, as a seller, a cash sale with no contingencies is the way to go if you can. You may want to seek out an instant homebuyer or a local real estate investment company to initiate a cash sale;  typically a much faster process than a traditional listing process. The downside is that the offers you may receive might be significantly less than what you might get on the open market. If your Realtor can help you find a cash buyer on the open market, all the better!

While the idea of buying and selling at the same time is definitely a little scary, the experienced, professional Realtors on Sandra Nickel's team can help you through the process.

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

Photo Credits: fincancebuddha.com, thehill.com, yourfundingtree.com

“When you know, you know”. That’s what they say. But not everyone has a “say yes to the dress” moment (or in this case a “say yes to the house” moment) when they are shopping. Some people are more analytical and are not willing to make a big purchase with just a gut feeling. And let’s face it, buying a house is probably the biggest purchase you’re going to make, so it’s important that you know you have the right one. So, how do you know? Well, here are some signs that you have found the right home for you:

• When you enter the home, does it feel like you’ve been embraced in a great big hug? An immediate sense of comfort and safety is a good sign that this might be the right house for you. You may not know for sure until you have completely explored the house to make sure it checks most of the boxes on your “wants and needs” list, but feeling a good vibe when you first walk in is definitely a positive sign!
   
• When you’re walking through the home, do you feel insulted if the Realtor points out flaws in it? This is also a good sign that this might be the home for you. It shows that you already feel possessive about the home…as if it’s already yours. You are willing to overlook the flaws to see the bigger picture. Feeling connected to a home when you haven’t even bought it yet is another sign that it is the right one! Homebuyers: It's Ok to Overlook These 8 Flaws
  
• Does the home fulfill your basic needs? You likely have decided what it is you want in a house and what it is you need. If needs aren’t met, that is usually a deal breaker. So, if a house meets your needs; has the right amount of bedrooms and bathrooms, the layout you want, the neighborhood you want etc., and it also “feels” right, then it probably is right. Even if it’s missing some of your “wants”, they can be added later.
   
• If the first thing you want to do after looking at a house is to text photos of it to your friends and family, chances are you’ve found the one. When you are excited about something, you want to share it! Whether you’ve been looking for months, or it’s the first house you see…that urge to share is a sign that it’s a true gem.
   
• When you decide to stop looking at houses, that a sure sign that you’ve found your home. If you think you’ve found the house you want, but you still want to keep looking - “just in case”, then chances are you are settling and haven’t truly found the right home.  But when you can confidently say, “this is it and I don’t want to look at any more houses”, you have found your home sweet home!
  

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 and check out https://www.homesforsaleinmontgomeryalabama.com/ for more info!

Photo Credits: parenting-blog.net, financialavenue.org, smartasset.com

Deciding whether or not to buy a home is a big deal, especially for military families who may only live someplace for a short period of time. If you are in the military and are thinking about buying a home, here are some important things to take into consideration:

RESEARCH

It is important to start researching the area where you will be moving long before your moving date.  Check out websites, newspapers, and magazines with real estate listings. Have a list of wants and needs prepared to help narrow down the types of homes you are interested in viewing.  Pay particular attention to houses in the neighborhoods you are interested in to see how long they are staying on the market and if there are changes in their asking prices.

RESALE VALUE

Since military families often do not live in one place for very long, when buying a home, you need to really think about resale value. It is important to find a good neighborhood that does not have too much turnover, since having too many homes on the market could be bad for selling. It makes sense to buy in neighborhoods that are in desirable school districts, but that are well-established and will not be competing with new construction happening nearby. It is also a good idea to buy homes that have standard floor plans that appeal to more people rather than custom homes that may be unique, but only appeal to a few.

COMMUNITY

Moving often can make it challenging for military families to find a sense of community. Buying a home in an area that offers a lot of amenities makes it easier for residents to meet people and form connections. Look for neighborhoods that offer things like pools, fitness centers, dog parks, playgrounds, and community gardens. Families with children moving in the summer before school starts can utilize these amenities to meet people and establish relationships that will help you integrate more easily into the school year.

MILITARY INCENTIVES

You will find that many developers and builders will offer special incentives for military buyers. Some communities even offer free landscaping services for members of the military who are deployed. Military buyers also can qualify for interior design extras and help with closing costs. It is prudent to always ask about any available extras for active military and veterans.  In addition, military buyers can also benefit from special financing options. Using a VA Home Loan is a great advantage for military buyers. And if the military buyer has greater than 30% disability, there are tax benefits which will lower his or her tax rate. With low interest rates and your housing allowance, you will be able to pay your mortgage and build equity even if you only live there a short time.

Military buyers want the same things in a new home that all buyers want…a good floorplan, great schools, lots of storage, nice appliances, and a safe neighborhood. But you do bring a unique perspective to the home-shopping experience. Connecting with a military-friendly professional Realtor like Sandra Nickel is vital to navigating the homebuying process, especially right now with the market being so fast-paced. Sandra is a Certified Residential Specialist who will provide information about schools, safety, traffic, and neighborhood activities to help military families make the best choice for their new home!

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 and check out https://www.homesforsaleinmontgomeryalabama.com/ for more info! 

Photo credits: rismedia.com, colemanhighlands.org, debt.org

There was a time when there were three mortgage loan types available to home buyers. You could get a Fixed-Rate Conventional Mortgage, an FHA Loan or a VA Loan. But times, they are a changing.  Now there is a vast array of mortgage loan types to be had!  Let’s learn about some of them, and the differences between them.

We will start with the Most Popular:

FIXED-RATE MORTGAGES - These loans come in 5-year, 10-year, 15-year, 20-year, 30-year, 40-year, and even 50-year timeframes and they are all completely amortized.

FHA LOANS - FHA Mortgage Loan types are insured by the government through mortgage insurance that is funded into the loan. This is an ideal loan type for first-time buyers because it has minimal down payment requirements and does not rely on credit scores for approval.

VA LOANS - VA loans are government loans available to veterans who have served in the Armed Forces for the United States. They are also available to spouses of deceased veterans in some cases.  The requirements depend upon the years of service and whether or not the veteran was honorably discharged or not. The primary benefit of a VA Loan is that the borrower does not have to come up with a down payment. The loan is guaranteed by the Department of Veterans Affairs, but funded by a conventional lender.

USDA LOANS - USDA Loans are offered through the U.S. Department of Agriculture for eligible home buyers who want to buy a rural property.  They often come with no down payment required and can sometimes be more affordable than an FHA loan.

INTEREST-ONLY MORTGAGE TYPES – This name is a bit misleading, as these loans are not truly interest-only in terms of the borrower only paying interest on the loan.  The reality of the interest-only mortgage is that it offers an option to make an interest-only payment. This option is only available for a set period of time.  However, there are some junior mortgages that are interest-only and necessitate a balloon payment in the amount of the original loan balance at maturity.

Now, let’s take a look at HYBRID LOANS:

ADJUSTABLE-RATE MORTGAGE TYPES -  There are various types of adjustable-rate mortgages (ARMS). They can fluctuate monthly, semi-annually, annually, or remain fixed for a set amount of time before they adjust.

OPTION ARM MORTGAGE TYPES – These types of loans are complicated. Like your standard ARM, the interest rate on them will fluctuate periodically, but in these loans, the borrowers can choose from various payment options and index rates.  WARNING: The minimum payment option can be dangerous as it can result in negative amortization.

COMBO/PIGGYBACK MORTGAGE LOAN TYPES – This is a type of financing that consists of TWO loans: a first mortgage and a second mortgage. They can be adjustable-rate, fixed-rate or a combination of both.  This is option is used by borrowers when the down payment is less than 20% in order to avoid paying private mortgage insurance.

MORTGAGE BUYDOWNS – A mortgage buy down is a choice for borrowers who want to pay a lower interest rate in the beginning of their loan.  Basically, fees are paid to lower the rate, thus the name buydown. Buyers, sellers, or lenders can buy down the interest rate for the borrower.

Finally, Specialty Mortgage Loan Types:

BRIDGE LOANS – Bridge loans are used when a seller’s home has not yet sold and the seller wants to borrow equity to buy another home.  The seller’s existing home is used as collateral for the bridge loan.

STREAMLINED-K MORTGAGE LOANS – FHA has a program that provides money to a borrower to make home improvements by rolling the funds into one loan. This is similar to the 203(K) Loan Program, but involves less paper work and is easier to get than a 203(K).

EQUITY MORTGAGE LOAN TYPES – Equity loans are second, or junior to the existing first mortgage. Borrowers take out equity loans to get access to cash. The loans can be adjustable, fixed, or a line of credit that allows the borrower to obtain funds on an as needed basis.

SHAERED APPRECIATION MORTGAGES – These are rare in the United States, but shared appreciation mortgages allow home buyers to share part of their property’s value gains with an investor or lender. The guaranteed return to the lender means that the borrower will get a lower interest rate and lower monthly payment on the loan.

REVERSE MORTGAGE – This type of mortgage is for people over the age of 62 who have enough equity in their homes.  Instead of making monthly payments to the lender, the lender makes monthly payments to the borrower for the duration of their residence in the home. Reverse mortgages can be done with either fixed or adjustable interest rates. Please get advice from a trusted advisor before considering a reverse mortgage!

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 and check out https://www.homesforsaleinmontgomeryalabama.com/ for more info! 

Montgomery is a spectacular city! Its warm, Southern hospitality, high quality of life, and low cost of living make it an ideal place to work and live. While it is a mid-sized city, it has a small-town feel, giving you the best of both worlds!

You will find everything you want from a big city in Midtown Montgomery; from world-class arts and theater, to excellent health care facilities, to a bustling restaurant and retail area, and while every city has its own unique history, Montgomery is home to some of the most memorable events in American history. There are many family-friendly museums, monuments, and historical sites that celebrate African American history. One particular street is said by locals to be one of the most historic in America!  At one end of Dexter Ave., you will find a large fountain, at another the Alabama State Capitol, and in between, is the Dexter Avenue King Memorial Baptist Church, where Dr. Martin Luther King, Jr. served as pastor in the late 1950s.  This street is also where Rosa Parks refused to give up her seat on the bus. Montgomery is the city where the modern civil rights movement took off, and its rich history makes it an interesting and inspiring place to live.

Midtown Montgomery is home to approximately 193,000 residents. It includes established neighborhoods with charming, historic homes, the city’s two largest business parks, Baptist Hospital, two of the largest private schools in Montgomery: Montgomery Academy (enrollment 858) and Trinity Presbyterian School (enrollment 980), Huntingdon College (enrollment 1,000) and Alabama State University (enrollment 5,600). Midtown Montgomery is convenient to Interstate 85 and Vaughn Road, two highly traveled Montgomery thoroughfares between east Montgomery and downtown. 

If you are a foodie, Montgomery will not disappoint! The people here love their food so much, the Minor League Baseball team is named, wait for it…the Montgomery Biscuits! And living in Midtown provides convenient access to some of the best restaurants in town. There are no shortage of delectable dining experiences in and around Midtown. Cahawba House, a cozy breakfast/lunch spot known for its biscuits, Derk's Filet and Vine, a restaurant and market all in one, and Bibb Street Pizza Company are just a few of the many casual dining options. For fine dining, head to the downtown entertainment district to try Central, a locally owned, and regionally sourced fine dining establishment.

One of the best things about Midtown Montgomery are the neighborhoods. Beautiful, historic homes from Bungalow and Cottage style architecture, to Craftsman style, Tudor and Neoclassical Revivals, sit among mature trees and exquisite gardens; some of them walk-in ready and others a fixer-uppers dream.

Find more information about Midtown Montgomery neighborhoods HERE.

Learn more about life in Midtown HERE.

If you are interested in purchasing a historic home in Montgomery, Sandra Nickel and her Hat Team are the Real Estate Professionals for you!  Sandra and her team are experts when it comes to finding the perfect quaint cottage, bungalow, or mansion in historic Montgomery neighborhoods for their clients. Give them a call today at 334-834-1500 or send them an email HERE and before you know it, you will be living the dream in Midtown Montgomery!

Photo credits: ulc.org, newsweek.com, wtvy.com, watchtheyard.com, central129coosa.com, homesforsalemontgomeryalabama.com

The global pandemic set the world into a tailspin, and one result was that the US economy suffered its largest blow since the Great Depression in the second quarter.  It has been about a year since the housing market was on hold for a few months due to the pandemic last spring, and back then it appeared that the real estate market would go into a steep decline because of widespread stay-home orders. But that has not been the case. Instead, the US housing market has been kept afloat by homebuyers. It turns out that residential real estate has been very resilient. In fact, 2020 was a record-breaking year for the US housing market. And as we enter 2021, housing prices are not falling.

“The typical U.S. home was worth $266,104 in December, up 8.4% (or $20,587) from a year ago. A total of 5.64 million homes were sold in 2020, up 5.6% from 2019 and the most since before the Great Recession, according to Lawrence Yun, NAR’s chief economist. Sales also rose 0.7% from November and 22.2% year over year. Existing home sales reached the highest level in 13 years.”

Just over a month into 2021, the housing market is still super-competitive for homebuyers. The number of active homebuyers is far greater than the number of homes available for sale, and as a result it seems unlikely that the current pace of home price growth will not change anytime soon. Per Realtor.com market data for the week ending February 6, 2021, the median listing prices grew at 12.9% over last year, making it the 26^th consecutive week of double-digit price appreciation.

HOUSING PRICE FORECAST 2021: STEADY APPRECIATION

Right now, across the nation, homes are selling quickly and the number of homes available for sale continue to fall lower and lower. With homebuyers competing for homes, prices will continue to rise. In fact, per economists and market watchers, home values are growing faster than they have in a generation; and there is no sign of them slowing down.

WHY ARE SO MANY PEOPLE BUYING HOMES DURING A PANDEMIC?

With stay-at-home orders, there was a huge rise in remote work which, in turn, created a suburban boom, with an outbound migration from cities. A lack of developed land means that home builders may not be able to meet rising demand, leading home prices to continue to rise in 2021. While some urban cities still lack the supply of homes demanded by buyers in those areas, the pandemic has generated a desire for houses with more space; both indoors and out. Combined with historically low interest rates, you see prices rising greatly from urban-to-suburban markets.

Right now, it does not look like price growth is going to slow.  Per Economic Research, predictions are that annual home value growth will rise as high as 13.5% by mid-2021, and the year will finish with approximately 6.9 million sales, the most since 2005.

Another reason there are so many homebuyers in the market now is due to the March to July period from 2020, when a huge portion of the country was on total lockdown. That is normally busy time for residential real estate, and many people who had planned to buy last year are now looking to buy this year. So, it is supply and demand. Low supply + huge demand = rising prices!

WHAT DOES THIS MEAN FOR YOU?

If you have been thinking about selling your home, now is a great time to do it! 

Sandra Nickel and her Hat Team of Professionals will help you get your house on the market and sold for the best possible price!  Call them at 334-834-1500 or contact them via email HERE. There has never been a better time to sell your home!