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Displaying blog entries 231-240 of 274

4 Compelling Reasons To Buy a Home

Thursday, February 5, 2015
by The Hat Team

According to Fannie Mae the top five reasons people buy a home:

  • To have a better place to raise their children
  • A place where their family can feel safe
  • To have more space; Freedom to renovate to their own taste
  • Being a homeowner is a better investment.

home buyersDoes this hold true for you? Well, let’s take a look at these reasons to get a broader perspective…then you decide for yourself about being a homeowner.

1. To have a better place to raise children and family can feel safe…

This can very subjective and involves a lot of factors. It boils down to community and personal preferences. What is the look and feel of a community where you could see yourself living? The school system and convenience to shopping are important. Local government services provided such as emergency services, hospitals, fire, police, utilities, etc. must be considered. Is there a neighborhood watch, public parks, a community center with activities for everyone in the family, etc.? Try making a list of all the things important to you and use it evaluate where you’re searching for a home.

2. To have more space…

This is also somewhat subjective, but can be looked at analytically as well. Much depends on your lifestyle and the size of your family. There are large and small apartments, and large and small houses. Much has to do with how much space you would like to have versus how much you can afford. And this also really flows into the next topic…

3. Freedom to renovate for your own taste…

Whether you want to add on or simply renovate within existing walls, “freedom” is a huge factor in deciding to buy a house. Buying is not for everyone. Renting is a very good option for a lot of people. But the freedom to do as you please with your home is a powerful motivator. Here’s where lifestyle comes into play. It costs more to own a home than to rent. The money saved by renting can arguably be used to support a different lifestyle, which is also a form of freedom. Only you can decide.

4. Owning is a better investment…

There is no doubt that at the end of a renting cycle you walk away with no financial benefit except for the money you have saved in the process. How that savings compares with what you have when you sell a house you have owned is the question. And the answer is “It all depends.” Being a homeowner costs money. But, a lot of the money spent owning a home potentially can be recuperated. A homeowner is also building equity every month they make a mortgage payment. In that sense home ownership can be viewed as a huge savings fund.

If freedom is your primary key factor, buying real estate and becoming a homeowner is definitely to be considered!

Information courtesy of Montgomery AL Realtor Sandra Nickel.

 

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Get Ready to Garage Sale

Thursday, January 22, 2015
by The Hat Team

A well-planned garage or yard sale can make room in your home, get rid of unused items and make some money but it needs some planning to be successful.

  • garage saleStart early to research and plan
  • Promotion is key
  • Display items attractively
  • Price items right
  • Organize checkout

Saturdays are generally the best day but there may be some exceptions.  Experienced garage-salers believe that a well-planned one-day event will do as well as a multi-day event.  Serious purchasers will look for the “new” sale and most people don’t come back multiple days.

Advertise in local newspapers and free online classified sites like craigslist.  If several families are going together for the sale, mention that in the ad; it will be a big draw.  Mention your bigger-ticket items like furniture, equipment and baby items.

Garage sale signs can be purchased or made at Staples, Fedex Office or Kwik Signs.  Signs need large lettering so they’re easy to read while people are driving. Most important info: Garage or Yard Sale, address, date and time.  Directional signs are also important.  Balloons and streamers to attract attention to the signs are very helpful.

Consider using the service Square so that you can take credit cards.  The cost is 2.75% per swipe and can be done on your smartphone or iPad.  You’ll need to sign up at least two weeks in advance to receive your reader.

Unless you’re having an estate sale, keep your home locked.  You don’t want people wandering through your home while you’re outside.  If you start to accumulate a lot of money, take some of it inside.  Don’t discuss how much money you’ve made during the sale or how successful it has been.

People will want to bargain; it’s the nature of the game.  Consider this strategy: less negotiations early in the sale and possibly, more toward the end of the sale.

Information courtesy of Sandra Nickel Hat Team REALTORS.

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Reducing Interest Expense

Wednesday, January 14, 2015
by The Hat Team

0% financing has induced car buyers into taking the plunge because it doesn’t cost anything to use someone else’s money.  While mortgage rates are not at zero, they’re close enough that many buyers are applying similar logic.

value of debt-free homeQualified mortgage interest is deductible on taxpayers' returns subject to the maximum acquisition debt of one million dollars.  For the fortunate homeowners who have paid off their mortgage, their acquisition debt was reduced to zero and only the interest on a maximum home equity debt of $100,000 is deductible.

If you have to pay interest, deductible interest is preferable because it reduces your actual cost.

Consider the following example of a taxpayer with a $500,000 debt-free home.  If they did an 80% cash-out refinance of $400,000, $100,000 would be considered home equity debt and the interest on that would be deductible on their income tax.  The other $300,000 of debt is considered personal debt and the interest is not deductible.

However, because the rates are currently so low, the loss of deductibility of the interest doesn’t have as much impact as if the rates were higher.  The key is to have a good purpose for the money that would offset the actual cost of the interest.

Paying off a higher rate debt such as credit cards, student loans, possibly, business debt could all have significantly higher interest rates.  Refinancing a home and eliminating debts like these could be a big savings.

All lenders are not the same.  Call for a recommendation of a trusted mortgage professional.

Information courtesy of Montgomery Real Estate Experts Sandra Nickel Hat Team!

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ICE Can Save Lives

Monday, January 5, 2015
by The Hat Team

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

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

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

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

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

Information courtesy of Sandra Nickel Hat Team REALTORS.

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Being a Good Neighbor

Tuesday, December 16, 2014
by The Hat Team

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

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

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

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

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

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

Information courtesy of Montgomery Realtor Sandra Nickel.

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3 Ways to Get Your Home Ready For Winter

Thursday, December 11, 2014
by The Hat Team

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

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

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

Information courtesy of Montgomery AL Real Estate Expert Sandra Nickel. 

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Verify With Your Lender

Wednesday, November 26, 2014
by The Hat Team

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

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

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

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

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

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Realize Tax Savings Sooner

Thursday, November 13, 2014
by The Hat Team

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

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

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

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

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

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9 Steps toPreventing Identity Theft After You Move

Friday, November 7, 2014
by The Hat Team

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

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

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

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

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

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Relax...There's an Alternative

Monday, November 3, 2014
by The Hat Team

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

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

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

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

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

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

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Displaying blog entries 231-240 of 274

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