Real Estate Information Archive

Blog

Displaying blog entries 21-30 of 1236

Debt: The Good and The Bad

Wednesday, October 16, 2024
by The Hat Team

You may think that the only good debt is NO debt, and that is understandable. But the truth is that if you want to purchase big-ticket items like, for example, a house, you will most likely have to borrow money to do so.  A loan to purchase a home is justifiable; essential even and provides value while taking on debt. However, there are other forms of debt that can bog you down and make it challenging to manage your money.


Let’s look at what the differences are between good debt and bad debt.

What is Good Debt?

You’ve probably heard it said that “it takes money to make money”.  This is the rationale we take in determining what good debt is. If debt assists you in generating income or building wealth, it can be considered good debt. This debt adds value to your future and benefits you in some way. Here are some examples of things that can be considered good debt:

  • Education: Higher education and trade schools may offer greater earning potential. Investing in a college degree or a technical trade may pay for itself within a few years of graduation. However, keep in mind that not all degrees offer the same value, so you should do your research to have an idea of how much you can potentially earn and how long it may take you to pay off your student loans.
     
  • Owning Real Estate or a Home: Owning a home can generate income either by renting it out or via resale value. There are also tax breaks that benefit homeowners that are not available to renters.
     
  • Owning a Business: While starting a business may require a substantial investment, that investment is still considered good debt. There are risks involved, but with hard work, being your own boss can be financially beneficial.
     
  • Transportation: Depending upon where you live and work, transportation may be essential. This means possibly investing in a reliable vehicle to get you to and from work. Having a vehicle can open up opportunities for jobs that might not be available to you if you cannot provide your own transportation. But it is vital that you purchase a vehicle within your budget so that your monthly car payment is within your means.


What is Bad Debt?

If you borrow money to purchase things that depreciate, this is considered bad debt. In other words, items that either will not increase in value or bring meaningful value to your life are not worth going into debt for.

Here are some examples of bad debt:

  • Clothing and Consumables: Clothes may be a necessity but are often not worth what you pay for them. Food and furniture are also essential but going out to eat every day or purchasing new furniture frequently are not good ways to live within your means. If you must use credit to eat out or if you can’t pay off a credit purchase within a short period of time, you may build up a lot of debt which can hurt you financially.
  • Credit Cards: Credit cards can help you build credit, but they can be dangerous if they are not used properly. If you can’t pay your credit card bill in full monthly, interest and fees will add up quickly, putting you further into debt. In fact, you may end up paying more in interest and fees than you did for the original purchase. It is in your best interest to save credit card use for necessary large purchases or for emergencies.
  • Transportation: As seen above in the good debt category, having a reliable vehicle may not only be necessary, but can also provide value. However, having a second vehicle or vehicular “toy” of some kind (think boats, four-wheelers) may do a number on your budget. You need to be sure that you can afford another payment before adding something else to your monthly bills. And remember that “needs” should always come before “wants” when determining your budget.

Focus on Good Debt

If you manage your good debt and have a clear understanding of what construes bad debt you are less likely to get in long term financial trouble.  But remember…even if you don’t have bad debt, it is still beneficial to pay off good debt as quickly as possible!  Doing so will help you if /when you are applying for a mortgage or other loans in the future.

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!

Add Comment

310 Tecumseh Ct: Arrowhead Patio Home with an Open Floor Plan!

Wednesday, October 9, 2024
by The Hat Team

310 Tecumseh Court, Montgomery, AL 36117

MLS# 565170

3 Bedrooms | 2 Baths | 1 Half Bath | 1,614 Square Feet | Arrowhead

Play VisualTour

Looking for a deal in Arrowhead? Look no further!  Original 3 bedroom, 2.5 bath patio home looking for a new owner to give it some TLC and a spruce up. Great open floor plan, just needs a little updating. Established neighborhood, convenient location. Check it out as soon as you can!

Marketed by Montgomery AL Realtor, Lauren Keen, Sandra Nickel Hat Team!

Add Comment

754 Forestdale Dr: Great Starter Home in Forest Hills!

Thursday, October 3, 2024
by The Hat Team

754 Forestdale Drive, Montgomery, AL 36109

MLS# 563910

3 Bedrooms | 2 Baths | 1,556 Square Feet | Forest Hills

Play VisualTour

Great starter home in Forest Hills, OR a good addition for your Investment Portfolio. Living/Dining combo, large eat in kitchen and den with tile flooring. Good closets and separate laundry room and nice flat back yard. Check it out today!

Marketed by Montgomery AL Realtor, Lauren Keen, Sandra Nickel Hat Team

Add Comment

Maintaining Your “Vintage” Home

Wednesday, October 2, 2024
by The Hat Team

There are some beautiful older homes in Montgomery and if you are lucky enough to own one, you want to keep it in the best shape possible. It’s important to take steps to maintain the old-world charm of a historic home. 

Here are steps you can take to keep your aging, vintage home properly protected and preserved:

  • KEEP UP WITH REGULAR MAINTENANCE

Routine maintenance, like cleaning and painting (especially the exterior) is vital to minimizing issues that might mean costly repairs. It’s a good idea to develop a maintenance schedule and follow it as best you can.

 

  • LIMIT CHANGES

When repairs must be made, try to keep original details intact. For example, if some trim needs to be replaced due to rot or infestation, only replace the parts that are damaged. This will save wood and money and help preserve the historic fabric of the house. If you do have to replace something completely, take photos prior to removing anything so that it can be duplicated to retain the character of the home.

  • KEEP HISTORIC WINDOWS

If you have early twentieth century (or earlier) windows, you are going to want to keep them. They were made to be repaired, not replaced.It is possible to make old windows more energy efficient.

 

  • TAKE SPECIAL CARE WITH MASONRY

While brick and masonry are long-lasting components, they will need maintenance and eventually, repairs. Educate yourself about proper ways to care for and repair them.

 

  • EMBRACE THE QUIRKS

You don’t have to “fix” everything. You can repair and stabilize structural damage while keeping elements that show how your home has aged over the generations.

  • KEEP HISTORIC INTERIOR FEATURES

While you will surely want to update some aspects of your home, try to hang on to the charming features that make it unique. Things like transoms, paneled doors, moldings and such are features that make your home special.

 

  • KEEP PLASTER WALLS

Plaster is a remarkable material that is superior to modern day drywall. In recent years, preservation contractors have discovered the benefits of preserving plaster walls. Damaged plaster walls can be repaired, and if necessary, only replace the damaged portions.

 

  • CHERISH THOSE OLD HARDWOOD FLOORS

Retaining the old floors in a historic house requires special care. Be careful not to over-sand them, destroying the antique character in the process. Old floors were hand-planed, and hand-sanding is the best way to maintain their character.

The most important step you can take to maintain your vintage home is to educate yourself. Lots of information can be found online and there are “Old House Specialists” that can help 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!

Add Comment

Selling in Autumn is a Great Idea!

Wednesday, September 25, 2024
by The Hat Team

While summer is considered by many to be the hottest time for selling a house (both literally and figuratively), sometimes circumstances require you to sell during a different time of the year. If there is a season for everything, autumn just might be exactly the right season to sell.

Here are some perks to selling in autumn:

  1. HOMES SHOW WELL IN AUTUMN

The autumn season lends a beauty to homes that can’t be found in any other season. Colorful leaves, fall décor, and seasonal flowers provide a gorgeous, cozy aesthetic that draws a lot of positive attention to the appearance of a home. For sellers, this means prime curb appeal will draw buyers’ interest.

  1. SERIOUS BUYERS

Buyers who are looking at homes in autumn likely want to buy before the end of the year, so they are serious buyers. They likely want to get settled into a new house before the holiday season begins. The pressure is on for them to find their new home quickly and this puts you (the seller) in the driver’s seat when it comes to negotiations.

  1. LESS COMPETITION

There is less competition in autumn. Many sellers need to close and move before school starts, so fewer houses are for sale. With less to choose from, buyers can’t afford to be quite as picky.

  1. DIFFERENT TYPES OF BUYERS

You will be dealing with different types of buyers in Autumn. Families often move in the summer to accommodate school schedules. Empty nesters and Millennial home buyers are more likely to be looking in the fall. In addition, employers who need to relocate their workers often wait for fall to avoid the hot market during spring and summer. A speedy closing is the goal of most of these buyers, which means you are more likely to get the best price possible for your house.

  1. LOWER MOVING COSTS

Since autumn is not the peak moving season, movers will be less in demand than they were during the summer. This means prices for moving may drop as demand drops. So, for those moving in autumn, you may possibly be able to save quite a bit on moving costs. You can maximize your savings choosing to move mid-month and/or mid-week when rates are often even lower.

  1. BETTER (SWEATER) WEATHER

It can still be pretty warm during autumn in the south, so while it might not actually be “sweater weather”, it definitely will be “better weather” for moving than it is in the heat of summer.

Autumn is pretty. The weather is cooler; the leaves are changing colors and fall décor can make homes look and feel warm and cozy. This is a great time of year to dress up your house to entice buyers!

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

Add Comment

3123 Woodley Terrace: Delightfully Updated Woodley Terrace Home!

Friday, September 20, 2024
by The Hat Team

3123 Woodley Terrace, Montgomery, AL 36106

MLS# 563782

3 Bedrooms | 3 Baths | 2,048 Square Feet | Woodley Terrace

Play VisualTour

Welcome to 3123 Woodley Terrace, a delightful gem nestled on a peaceful street! As you approach, the beautiful azaleas will be the first thing to catch your eye! Step inside to see the beautifully refinished hardwood floors that flow throughout the first floor, complemented by unique detailing along the staircase. The updated kitchen features a stylish tile backsplash, elegant granite countertops, and custom cabinetry—perfect for both everyday meals and entertaining. This charming home offers two spacious bedrooms on the first floor, while the finished upstairs boasts a third bedroom and additional bathroom. This versatile space is ideal for children or a home office, providing plenty of room to grow. Outside, you’ll find a two-car garage and a nicely sized fenced yard, complete with a lovely stone walkway—perfect for your gardening ambitions or creating a nice space for outdoor gatherings. Recent updates include a new HVAC system and roof installed in 2022, along with fresh interior and exterior paint, refinished floors, and new carpet installed upstairs this year. Don’t miss the opportunity to make this Cloverdale charmer yours!

Marketed by Montgomery AL Realtor, Ali Bertschy, Sandra Nickel Hat Team!

Add Comment

338 Cloverdale Rd: Adorable Garden District Cottage!

Friday, September 20, 2024
by The Hat Team

338 Cloverdale Road, Montgomery, AL 36104

MLS# 563781

2 Bedrooms | 2 Baths | 1,920 Square Feet | Garden District

Play VisualTour

This adorable Garden District cottage has been in the same family for over 80 years! Living spaces feature high ceilings and large open rooms. Seller says hardwoods under carpet. Spacious kitchen has original/antique built-in cabinet and fabulous farm sink. Rear section of central hallway large enough for sitting area off main bedroom. Main/rear bedroom is large and flooded in light by multiple large windows. Central hallway has large walk-in closet that would be perfect for powder room conversion. Front bedroom is spacious and also has en suite bath. Attic is floored for additional storage. Cozy and private back yard features a deck, is fenced for pets, and has an original 1 car detached garage with storage in rear. Attached 1-car aluminum carport protects from the elements. Great street and just a block from fine dining, coffee shop, bars, restaurants, and entertainment. Easy access to downtown and both interstates!

Marketed by Montgomery AL Realtor, Billy Young, Sandra Nickel Hat Team

Add Comment

1936 Norman Bridge Ct: Thoughtfully Redesigned Home in Historic Garden District!

Thursday, September 12, 2024
by The Hat Team

1936 Norman Bridge Court, Montgomery, AL 36104

MLS# 563552

2 Bedrooms | 2 Baths | 1,746 Square Feet | Garden District

Play VisualTour

Welcome to 1936 Norman Bridge Court! Nestled at the end of the cul-de-sac in the historic Garden District, this house offers the tranquility of a quiet neighborhood while being just a short stroll from the Cloverdale Entertainment District. Upon entering, you’ll be greeted by a spacious living room, providing ample room for all your furniture and creating a welcoming atmosphere. The dining room features an impressive, oversized window which floods the space with natural light. Originally a three-bedroom home, it has been thoughtfully redesigned to include a large primary bathroom. This updated space boasts a tiled shower and a generous closet area, offering you plenty of room for a vanity and your wardrobe needs. Relax on the back deck during peaceful evenings or tackle your DIY projects in the detached one-car garage. This home combines comfort, convenience, and a touch of historic charm, making it a true gem in the Garden District.

Marketed by Montgomery AL Realtor, Alison Bertschy, Sandra Nickel Hat Team!

Add Comment

Advice for First-Time Home Sellers

Wednesday, September 11, 2024
by The Hat Team

You are a homeowner. You have gone through the process of procuring a mortgage, closing on a house, moving in, and creating a home for yourself and your family. Chances are you have developed a loving attachment to your first home, but for one reason or another, it is time to move on. Maybe you have outgrown it, or maybe you are being transferred for a job.


Whatever the reason, now it is time for you to begin the process of selling your home. This is no small task. A lot of time and energy goes into preparing your home to get the best possible price when you sell. So, if you are ready to list your house for sale, take a deep cleansing breath and take one step at a time:

  1. THINK BEFORE YOU ACT

Before putting that “for sale” sign in your yard, make sure you know exactly what you want. Communicate with your partner (unless you live alone) so that you are both on the same page. Ask yourself and your partner these important questions:

  • Why are we moving?
  • What is our timeline?
  • What do we expect from the home selling process?
  • What role will we play in preparing our home for sale?
  1. DO SOME HOMEWORK

You will want to have an idea what kind of real estate market you are entering. There are a lot of factors that influence the market, including fluctuating mortgage rates and inventory shifts. Educate yourself so you will know what to expect.

  1. INTERVIEW & CHOOSE A PROFESSIONAL REALTOR

There is no more important relationship in your selling process than that which you have with your Realtor. The right agent will guide you, advise you, answer questions, and market your home so that you get the best possible price.

  1. DETERMINE YOUR SELLING PRICE

Your Realtor can help you decide the best asking price based on current market values.

  1. PREPARE YOUR HOME TO IMPRESS

These days, home buyers have free access to look at property listings online, so it is vital that your home makes a good first impression. That means getting your home in “show-worthy” condition. The time and effort you put into decluttering, making necessary home repairs, and cleaning until it sparkles will go a long way toward getting your house sold for the best possible price. Even better? Stage your home to sell. Staged homes sell faster and for better prices than those that aren’t staged.

  1. MARKET YOUR HOME

You not only need your home to be visible online, but you also need it to stand out! Consider having professional photos taken that showcase the best attributes of your home. The best listings also have compelling property descriptions that generate interest. Videos and virtual tours can also be used to draw interest from buyers. Be sure that your property is being promoted in the best possible way.

  1. BE FLEXIBLE WITH SHOWINGS

You want every interested party to be able to come to see your home. So, even though it’s inconvenient sometimes, make sure that you can make your home available for potential buyers to visit.

  1. CONSIDER OFFERS & NEGOTIATE WITH BUYERS

Again, your Realtor will play an important role here. Professional Realtor Sandra Nickel is an expert negotiator who will assist you in deciding on a strategic counteroffer to the buyer’s offer. They will consider not only the money being offered, but the contingencies as well.

  1. CLOSING THE SALE

Before you arrive to sign the final paperwork and collect your check, make sure your home is ready for the buyer’s final walk-through and take care of any last-minute issues.


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!

Add Comment

3235 Wellington Rd: Adorable Cloverdale Cottage!

Monday, September 9, 2024
by The Hat Team

3235 Wellington Road, Montgomery, AL 36106

MLS# 563487

3 Bedrooms | 2 Baths | 1,824 Square Feet |  Cloverdale/Idlewild

Play VisualTour

This adorable Cloverdale Cottage will capture your heart! Whether one, two, or a family, this home fits all. Spacious living room with fireplace and lots of built-ins for books and collectibles, dining room for big family gatherings, PLUS cozy den/family room with classic coffered ceilings will satisfy all your living needs. The kitchen overlooks gathering room/breakfast room and allows grown-ups to prepare meals while the little ones do homework or play. Elevated rear deck overlooks shady back yard, large brick patio with built-in firepit, and playground -grade jungle-gym for the kids. The backyard also boasts a wired and insulated workshop that once was a music studio with additional storage space inside. Check it out today! 

Marketed by Montgomery AL Realtor, Lauren Keen, Sandra Nickel Hat Team! 

Add Comment

Displaying blog entries 21-30 of 1236

Syndication

Categories

Archives

   cdpe    crsHat Lady on Zillow