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Displaying blog entries 221-230 of 288

Is It Time To Downsize Your Home?

Friday, July 10, 2015
by The Hat Team

If you’ve officially joined the ranks of the empty-nesters. one of the first questions that usually comes to mind is should we downsize our home. The kids are gone and we probably don’t need this big house. But is buying a smaller home right for you? Obviously, there are pros and cons to consider about both your finances and lifestyle before making a decision.

downsizeReasons not to downsize:

  • The family is spread all across the country and you want to have a place for everyone to gather for the holidays and vacations.
  • You’ve been in your current home for many years and have filled it with mementos you don’t want to part with.
  • You’re not emotionally ready to pack up and leave a lifestyle you worked hard to create. Leaving family, friends and familiar surroundings is more than you can bear.
  • You enjoy the feelings that go along with your larger home. A smaller home will not feel right for your current lifestyle.

Reasons to downsize:

  • The lower (or zero) mortgage payment that comes with a smaller home would give you more discretionary funds to travel and enjoy other recreational activities.
  • A smaller home means less to maintain and more time to play.
  • You and/or your spouse are not able to navigate the stairs like you use. A single level home is more desirable.
  • A smaller, newer home is more efficient and cost effective.
  • You need to be closer to a family member who needs assistance and your attention.

If you decide to downsize, make sure the new home fits both your lifestyle and pocketbook. Talk with a real estate professional about how much money you will net from the sale of your current home, as well as the costs of buying another one. Look into how much it would cost to move and to maintain the smaller home. Make sure it really is cheaper to live there. Downsize only once you’re satisfied that the finances make sense.

Buy into your new lifestyle

A smaller house in your current neighborhood could be the right decision if your priority is maintaining close ties to neighbors. Just make sure there are amenities like public transportation and stores nearby if your health begins to deteriorate.

A retirement community could be perfect if you never want to move again and you want to focus on travel, hobbies and perfecting your golf stroke instead of mowing the lawn. Talk to current residents to see whether they’re happy with the rules and the way things are run. Another option you may prefer is a condominium to eliminate the maintenance but not be locked in for life like many life care communities.

It is a big decision to downsize. So, make it carefully, do not rush, and get professional advice about the real estate and financial aspects of moving.

Information provided by Montgomery AL Realtors Sandra Nickel Hat Team.

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4 Tips to Prepare Your Home For Summer Vacation

Friday, July 3, 2015
by The Hat Team

Summer has arrived!  Many families plan for their summer vacation months in advance but did you know that you need to prepare your home for your vacation as well?  Below are a few tips on what you should do to prepare your home for your summer vacation.   

  • summer vacationMow your grass before you leave for your vacation.  I would suggest that you set the mower on the shortest cut you can get so that you don’t have to worry about it growing up while you are gone.  If you are going to be gone for an extended period of time you may want to arrange to have a family member mow your yard at least once while you are gone.  Mowing your yard before vacation makes it look like you are still at home and therefore may keep away potential intruders. 

     
  • Another thing you should do before you leave on vacation this coming summer is to contact the post office and have your mail canceled while you are gone.  You can pick your mail up at the post office once you arrive back home and start your service back up.  This may sound like a huge ordeal but it really is an easy way to keep things neat and tidy while you are away from home.  This simple act will also deter intruders.
     
  • If you don’t want your house to stand out as if no one is home, you may need to install a flood light that is activated by motion outside of your home.  This way if someone walks up to your house that is not suppose to be there the neighbors will be able to see them and can report anything out of the ordinary.  Another thing you can do with lights is to set a few inside lights on a timer so that it looks like you are home.
     
  • Some water heaters have a VAC mode otherwise known as a vacation mode. If you have this setting on your water heater it’s a good idea to use it while you are away.  Doing this is not only a good way to save on your bill but it is also a good way to avoid any type of flooding that may occur while you are gone.  The last thing you want to come home to is a flooded house due to a broken or burst pipe.

Hopefully these tips will get you started in the right direction before you set off on your summer vacation and you’ll be able to relax and have fun without worrying about your house! 

Information provided by Montgomery AL Realtors Sandra Nickel Hat Team.

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Montgomery AL Real Estate For Sale: 3706 Cricklewood Dr

Tuesday, June 23, 2015
by The Hat Team

Montgomery Homes For Sale:

3706 Cricklewood Dr Montgomery, AL 36109
MLS #318836

Splendidly Renovated in Dalraida!

Distinguished Dalraida home has had stunning and complete renovation! Breathtaking views of the sparking pool with new liner from den, breakfast room, kitchen and main bedroom! Need 4 bedrooms, it’s got it! Kitchen includes hard surface flooring, granite counter tops, tile back splash, and stainless appliances. New, new, new... fixtures, hardware, lighting, new roof, new windows, new upper and main level HVAC and the list goes on. Two separate living spaces for entertaining, one overlooks pool, one has a fireplace! Home comes with a one year AHS Warranty for your peace of mind. Corner lot and fenced backyard with refreshing cool pool! Large metal storage building with roll up door to store all your things or even your car! Call us or your favorite agent to view today!

Marketed by Montgomery Alabama Realtor Sandra Nickel, Sandra Nickel Hat Team.

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Take Pictures Now

Thursday, June 11, 2015
by The Hat Team

Preserve the memories you’re making by taking photographs of your home now. The pictures will remind you of the role your home played with your family and life.

houseReminiscing is easier when scrolling through pictures to remind you of people and times. One of the least heard regrets is that we should have taken more pictures.

Shots to consider:

  • The front of the home from across the street    
  • Times when your yard and plants looked exceptional
  • Holiday decorations
  • Special occasions in the homes like birthdays, anniversaries, graduations, etc.
    Home improvements
  • Major purchases for the home
  • Times when the home looked the best and the worst
  • Family, friends and pets in the home
  • Your children’s height marks on a door frame
  • The view from a favorite window

From an organizational standpoint, put the pictures in a folder with your address as the name. Even if you don’t take time to name each picture, you’ll have the file date to identify when it was taken. Since the cost of film and processing has disappeared, there is little reason not to chronicle your life in pictures.

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

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4 Tips for Buying Your First Home

Thursday, May 28, 2015
by The Hat Team

If you are in the market to buy your first home, you have come to the right place.  We are going to give you a few tips that might make buying your first home a good experience.  Buying a home can be a fun and exciting experience.  Buying your first home is a monumental time in your life and needs to be done right to assure you get all that you want out of it. 

  1. home buyerThe number one tip for having a great first time home buying experience is to find the right Realtor.  Sure you can find a Realtor quickly and easily as they will all likely be eager to help you with your home purchase but if you don’t find the right one you may be sorry later.  It is good to find a Realtor that shares some of your personality traits.  You may want to actually interview a few different agents before making your decision.  A good place to start looking for an excellent Realtor is by asking your friends and family members who they may recommend.
     
  2. Finding the best mortgage lender is also a key to a quality first time home buying experience.  Lenders are a dime a dozen so you need to be careful who you choose.  You may find that one lender in your area of town may offer a much better deal than one on the same side of town.  Again you may want to “interview” a few different lenders to find out who is willing to give you the best deal possible.  Keep in mind that mortgage lenders are basically sales people.  They are trying to get you to get your mortgage with them versus another lender.  Use that to your advantage.
     
  3. When buying your first home, be sure not to let your feelings and emotions get in the way if you get bad news. For example,  if you have your heart set on a particular house and then you find out that it is way out of your price range or that there are many problems that need addressing with the home  you are going to need to be able to quickly move on to the next house without getting upset about it.  You can make any house a home once you move in and put your own personal touch on it so don’t get discouraged and don’t be too quick to jump into purchasing the first house you see or like.
     
  4. Before buying your first home it is a good idea to have all of your financial affairs in order.  For instance if your debt to income ratio is a bit off you need to work on that before making a home purchase.  You are going to want to get the most house for your money and by doing your best to get your finances in order and get pre-qualified before you start looking you will be moving in the right direction. 

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

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Live the Dream

Wednesday, May 20, 2015
by The Hat Team

Consumers are more easily living the American Dream of owning a home because of the incredibly low mortgage rates. Today, most buyers can get a much lower rate than their parents or grandparents got on their first home.

American dream2.png

In a recent housing survey, FNMA released information about consumers' thoughts on the current market. Almost two-thirds would rather buy than rent and believe that now is a good time to buy. Half of the respondents expect rent and home prices will go up.

Top Ten reasons to move the dream to reality:

  1. It’s cheaper than renting in most cases
  2. Avoid rental increases in the future
  3. Equity build-up with amortization of each payment going to principal
  4. A home is a forced savings account
  5. Appreciation increases your equity and your overall investment
  6. Mortgage interest and property tax deductions
  7. Home equity interest deduction
  8. A place you can call your own
  9. A place to share with friends and family
  10. Capital gains exclusion on profit

Buyers need the confidence that they can afford a home and proof for the sellers when they’re ready to submit a contract. If a buyer has steady reliable income, a good record of paying their bills, money saved for a down payment and are prepared to pay the mortgage each month, the next step is to get pre-approved by a trusted mortgage professional.

Take a look at the Rent vs. Own to see what the real cost of owning a home for your price range.

Information courtesy of Montgomery AL Real Estate Experts Sandra Nickel Hat Team Realtors.

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Tips For Choosing the Right Counter-Tops

Friday, May 15, 2015
by The Hat Team

If you are in the market to buy or sell a home, you likely will want to do a bit of renovating before doing so.  A great way to spruce up your home in order to sell it is by replacing the old kitchen counter-tops.  This is an easy upgrade that doesn’t have to cost you an arm and a leg.  Here are a few different kitchen countertop ideas  to get you started in the right direction and weigh the pros and cons of each.  

  • countertopsGranite counter-tops are all the rage and it seems that everyone is putting these in their homes these days.  A good thing about granite counter-tops is that it is very hard to damage them.  Granite counter-tops are basically fool proof.  They will cost you around 2,000-6,000 but are well worth the money.  The only con I can think of when it comes to granite counter-tops is that you may need to reseal them every now and again because the edges and corners can chip.  This will need to be done by a professional.
  •  Soapstone and marble are some other good ideas for replacing your current counter-tops with as well.  These types of materials will cost you anywhere from 2,800-8,400.  If you have this kind of money to sink into your counter-tops you may find that your home will go for a bit more when it comes to selling it.  Soapstone typically scratches easily and may even stain although it is very beautiful.   Marble also can have these types of problems as well being easily damaged from heat.  If you are selling your home you may be able to get a higher asking price if you put marble or soapstone counter-tops in, but if you are going to be living in your house and you want maintenance free counter-tops you may want to stick with granite instead.  You are going to have beautiful new counter-tops not matter which material you decide to use, so whatever you choose to do will be a winning situation.  
  • Quartz is always an option when replacing kitchen counter-tops.  It looks a lot like stone but it won’t require as much maintenance.  You can get all sorts of cool colors if you choose quartz counter-tops.  If you are going to go with quartz counter-tops I would suggest that you have the edges rounded as they can sometimes chip and need to be repaired. 

Hopefully this blog has given you a few ideas if you are planning to replace your kitchen counter-tops.   Whether you plan to live in your home for many more years or you are planning to put it on the market, a nice new kitchen counter-top can do a lot for a home. 

Information courtesy of Montgomery AL Real Estate Experts Sandra Nickel Hat Team.

 

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Mortgage Rates: Deal Of The Century?

Thursday, May 7, 2015
by The Hat Team

Recently, Freddie Mac published a blog post titled Mortgage Rates: Still the Deal of the Century. They explained that, if you are planning to purchase a home, now may be the time:

mortgage"If you are in the market to buy a home, today's average mortgage rates are something to celebrate compared to almost any year since 1971.

The average 30-year fixed mortgage rate is 3.67% this week. If you take out a $200,000 mortgage at this rate to buy that home you've had your eye on, you'll pay $917 in principal and interest payments each month. One year ago, when mortgage rates were higher and averaged 4.27%, this same mortgage would have cost you an additional $69 in monthly interest payments or $828 per year.

Over the past few years, we've enjoyed a long run of historically low mortgage rates. While no one expects them to change dramatically overnight, they are expected to head up. Most experts agree that mortgage rates will drift up in the coming months to end the year approaching 4.50%.

Since 1971, when Freddie Mac began tracking mortgage rates, they have ranged from a high of 18.63% in October of 1981 to a low of 3.31% in November of 2012. Looking at the all-time highs and lows compared to more recent history offers a good perspective on how your payments on the same $200,000 mortgage would change as mortgage rates change.

  Date Average 30-year Fixed Mortgage Rate Approximate Monthly Payment on a $200,000 Mortgage
One Year Ago April 17, 2014 4.27% $986
This Week April 16, 2015 3.67% $917
Year-end 2015 (Forecast) December 31, 2015 4.50% $1,013
All-Time Low November 21, 2012 3.31% $877
All-Time High October 9, 1981 18.63% $3,117

Source: Freddie Mac Primary Mortgage Market Survey® (PMMS®). Tracking through the PMMS began in March 1971. Mortgage payments are principal and interest only, based on a $200,000 fully amortizing mortgage. All terms are assumed to be 30 years. FreddieMac.com/pmms/

Buying a home is a big investment – perhaps the biggest one you'll make in your life. So, it's important to be sure you are ready to make that purchase. If you are ready, today's rates are not to be missed."

For more information and tools on buying a home and homeownership give us a call or shoot us an email.

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Pay More or Less

Thursday, May 7, 2015
by The Hat Team

Paying more for your house payment does not make your home more valuable. It does mean that the mortgage rate may be higher than it has to be.

more or less.png

Even though fixed rates may never again be as low as they are currently, an adjustable rate mortgage may provide the lowest cost of ownership depending on how long a borrower plans to own a home. There are different types of ARMs but the one in this example is a 30 year mortgage with the rate fixed for five years and can adjust every one year after that based on independent indexes.

Another feature of a FHA ARM is the maximum rate change in one period is 1% and the maximum lifetime cap is 5% over the initial rate.

In the example below, the payment on the adjustable is $153.48 lower for the first five years or 60 payments. Another interesting thing is that lower interest rate loans amortize faster than higher interest rate loans. In this example, the ARM has a lower unpaid balance at the end of the first five years by $4,239.

The total savings on the ARM at the end of the first period is $13,477. If a borrower felt confident they would sell the home prior to the breakeven point of 8.5 years, the ARM would produce a lower cost of housing even if the mortgage rate escalated the maximum at each adjustment period.

To help determine whether you pay more or less, consult with a trusted mortgage professional and your real estate agent to learn the advantages and disadvantages of different programs. To try your own comparison, check today’s rates at the Freddie Mac Mortgage Rate Survey and plug your numbers into an Equity Accelerator.

ARM comparison2.png.jpg
 

Information courtesy of Montgomery Realtors Sandra Nickel Hat Team.
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Montgomery AL Real Estate For Sale: 2627 Ashlawn Ave

Friday, May 1, 2015
by The Hat Team

Montgomery Homes For Sale:

2627 Ashlawn Ave, Montgomery, AL 36111
MLS #317361

Income Producing Investment Opportunity!

Investors, this one is priced for YOU! Out-of-state owner is ready to let this one go, and has priced it to sell AS-IS. With a little "lipstick and rouge" this old girl in Midtown Montgomery could turn into a cash cow, income-producing rental! Do the numbers, you will see!

Marketed by Montgomery Alabama Realtor Sandra Nickel, Sandra Nickel Hat Team.

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