Real Estate Information Archive

If you are preparing to list your house for sale, you may be wondering if the financial reward will be worth the time, effort, and money to fix up things that are in disrepair or that are dated. The answer to that question depends on a myriad of circumstances such as the current real estate market, the condition of competing inventory and whether the renovations that need to be made generally provide a return on investment.

Some home buyers are looking to purchase a "fixer upper". They are looking for properties priced to sell, perhaps because they do not qualify for more expensive homes or maybe because they want to make a profit by fixing the home up themselves. Most “fixer” buyers want to do simple repairs such as painting walls, replacing light fixtures and putting in new carpet. Only a few want to take a house down to the studs and completely redo it. These potential buyers will want a price for the home that will allow for all the repairs, the inconvenience of doing the work, and often a bit more. For example, if a home is worth $200,000 fixed up but needs a new roof, and the roof costs approximately $10,000, a buyer most likely will not offer $190,000 for this home. The reason is that they can probably find a similar house that already has a new roof for $200,000 and save themselves the headache of replacing it themselves. A buyer in this situation might offer $175,000 or less, in which case it would make more sense for the seller to replace the roof and sell it for $200,000.

It’s important to note that many buyers are looking for "turn-key" homes. They fear having to make major repairs because they might be costlier than anticipated or other problems might be revealed. Even if the price is right, homes listed for sale in “as is” condition might not attract as many buyers.

However, before doing major renovations, there are many things to consider.

Smart sellers will research what their home’s market value will be once improvements are made and compare it to the cost of the renovations. If an upgrade will not provide return on the investment, it probably does not make sense to do it. Knowing the condition of your competition is helpful. For example, if other homes for sale in your neighborhood all have modern kitchens, it might make sense to update yours. This does not mean you should tear it down and start from scratch. Often a minor kitchen remodel will suffice. Also, keep in mind that kitchen and bathroom remodels are known to bring the best return on investment.

Start by making a list of the things in your home that are dated or in disrepair and then prioritize.  Here is a list of 10 minimum improvements to make before putting your house on the market:

• Patch all holes and cracks in walls and ceilings.
• Fix all appliances and HVAC systems.
• Repair leaky faucets.
• Replace worn carpeting.
• Repaint dark or marred walls in neutral colors (not white).
• Replace broken windows.
• Repair the roof.
• Change dated light fixtures/ceiling fans.
• Replace old linens/window coverings.
• Fix any code violations.

If your real estate market is a sellers’ market and homes are moving quickly, you can get by with fewer fix ups, however a home that needs repairs will still deliver a lower price. If it’s a buyers’ market, people might not even be willing to look at homes that need repairs. A professional Realtor like Sandra Nickel can help you understand what the current market is like in Montgomery right now; and assist you in determining what home renovations will help you get the best price when you sell!

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: gobankingrates.com, tidewatermortgage.com, keepingcurrentmatters.com

With life getting back to “normal”, many people will be traveling to visit family and friends this summer. If you are expecting house guests, you will want to prepare your home so that is comfortable and welcoming. Here is a list of things to do before your guests arrive:

• Buy Fresh Flowers - Even if you don’t keep fresh flowers in your home all the time, it’s nice to splurge a little to have them for your guests. You don’t have to spend a lot of money. You can often find lovely bunches of flowers at your local grocery store. If you have a green thumb and grow flowers in your yard, that is even better! Just clip some and place them in pretty vases around the house.
   
• Clean Out and Restock the Refrigerator - Get rid of any lurking left-overs as well as any condiments that have passed their expiration. Plan your meals for the duration of the visit and Stock the Fridge accordingly. Make sure you know your guests’ dietary needs and allergies prior to their arrival.
   
• Make a Spare Key - Unless you plan to spend every second of the visit with your guests, you will want to give them a key so that they have the freedom to come and go if you are not home.
  
• Have Extra Toothbrushes on Hand - You will be doing your guests a great favor by having extra personal items on hand in case they have forgotten something. There is nothing worse after arriving from a long trip than having to go back out to purchase forgotten items. Other items to have on hand: razors, deodorant, feminine hygiene products etc.
   
• Clean Out the Guest Room Closet - If you’ve been using your guest room closet for storage, now is the time to clean it out. Even if you don’t clear it out completely, make sure there is enough space for your guests to store their bags and hang clothes.
   
• Declutter - Having a cluttered home might be ok when it is just you and your immediate family, but you will want to have a neat and tidy home for your guests. You don’t have to go overboard. You can leave out things you use daily, like the bag of dog food or the tv remotes. But put other extraneous items away for the duration of their stay.
   
• Wipe the Ceiling Fan Blades - There are some things that often get overlooked in your normal cleaning routine.  Make sure to wipe down the ceiling-fan blades along with other nooks and crannies you might have missed before. It is also a good time to change your air filters if they have not recently been changed.
   
• Replace Shower Curtain Liner - If you have not changed your shower curtain liner in the  guest bathroom recently, check it to make sure there is no mildew.  Liners are inexpensive and new one will give the bathroom a fresh feel. 
  
• Prepare Guest Bath - Speaking of the Guest Bathroom - make sure it is fully stocked with plenty of toilet paper, facial tissues, shampoo, conditioner and body wash. Splurge on some fragrant fancy soaps to place on the sink. Provide a stack of freshly laundered towels so that your guests do not have to go looking for them.

Having guests in your home can be a little stressful sometimes. Preparing for their visit ahead of time will alleviate some of that stress so that you can enjoy their visit to the fullest!

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: realtor.com, expatica.com, hgtv.com

If you love the idea of bringing nature indoors in the form of houseplants, but you also have some precious fur babies living in your home, then there are some things you need to know. Not all houseplants are safe for our furry friends.  It’s important to do your homework and find out which houseplants will add the beauty of nature to your décor while also being safe for your pets!

Luckily, there are plenty of options available that are not toxic for pets. Here’s a list of a few houseplants that are known to be safe for cats and dogs to get you started:

• African Violets – These low maintenance plants come in a range of purple and pink hues. Keep their soil moderately wet and water them by letting them soak up the water from the pot’s drainage hole to keep from damaging leaves and petals.
  
• Christmas Cactus – Unlike another holiday plant, amaryllis, Christmas cacti are not toxic to dogs and cats.  While they can still cause a tummy ache if eaten, they are safer than other festive holiday plants
  
• Friendship Plant – This friendly plant, named for the ease with which it can be divided and shared, is a safe choice for your cats and dogs.  Friendship plants tolerate medium and low light and love humidity.
  
• Lace Flower Vine – This pretty plant grows best in a hanging basket.  That means it should be well out of reach of your pets, but even if they got ahold of it and ate some, it would not harm them. Hang it in a spot with bright, indirect light and water when soil feels dry. It’s trailing stems will grow about three feet long.
  
• Lipstick Plant – This unique plant has blooms that resemble tubes of lipstick!  It’s a tropical plant that thrives in bright light. It can grow up to 20 inches tall and needs to be watered frequently. It’s a great pet-friendly option for adding some bright color to your space!
  
• Polka Dot Plant – Add some more color with a polka dot plant.  These plants have patterned leaves in colors like pink or white. While it can grow up to three feet tall, it will usually remain on the small side (12 inches or less) when planted in containers.  It needs bright, indirect light and moist soil.
  
• Spider Plant – If you’re looking for a houseplant that is safe for pets and easy to grow, you can’t go wrong with a spider plant. They grow  best in bright, indirect light but can tolerate low light as well.  Be sure to let the soil dry between watering them for best growth.
  

While the plants listed (and many others) are technically safe for pets, it is important to remember that they might still get tummy aches if they ingest them. The best practice is to keep houseplants out of reach of your pets. If they should manage to snack on a plant, watch them closely for any reactions.

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: hartz.com, pinterest.com, almanac.com, plantingman.com, homeaddict.io, nobelpotsandpavers.com, pinterest, logees.com

Summer. It’s hot. Really hot! With temperatures in Montgomery hovering near 90 degrees, you may have already seen the numbers going up on your power bill from your air conditioning running non-stop. But there are ways to help keep your house cool during heatwaves that will not only allow you to be more comfortable but will also assist in lowering your power bill.

Here are some tips for keeping cool when it’s HOT, HOT, HOT outside:

• INSULATE YOUR ATTIC

You can make your home more energy efficient by installing quality attic insulation. Good insulation will prevent heat from going from the attic to your living space. With the right insulation, you can reduce cooling costs up to 50% because fewer “on” cycles for your air conditioner will be necessary to maintain the temperature you want. You will also get a great return on your investment with an insulated attic space if and when you sell your house.

• MAKE SURE ALL WINDOWS AND DOORS ARE PROPERLY SEALED

It is easier to keep your house cool when all the doors and windows are properly sealed. It is a good idea to have an energy audit done by your local utility company to find where cooling losses are occurring. Energy Consultants in Montgomery

• IF YOU LIVE IN A HISTORIC HOME OR IN A LOCALLY DESIGNATED HISTORIC DISTRICT 
  Window replacement is generally not desirable or an available option.  In these instances, invest in storm windows approved by your architectural review body.
   
• REPLACE DOOR WEATHER GUARDS

Replacing weather guards around your exterior doors is an inexpensive way to keep your home cooler. You would be surprised by how much cool air can be lost in the little cracks if the weather guards aren’t in good shape.

• CHANGE YOUR CEILING FAN TO A COUNTERCLOCKWISE ROTATION        

Just having a ceiling fan can reduce cooling costs by up to 40%. When it is hot, be sure to have your fan on a counterclockwise rotation so that it is pushing cool air down instead of up toward the ceiling.

• KEEP HEAT OUT WITH WINDOW TREATMENTS

It is hard to keep rooms cool when heat is pouring in through the windows; especially south and west facing rooms. It’s a good idea to keep shades drawn in these rooms. Also use thick, dark curtains that have a white reflective backing. They are best at keeping the heat out.

• REPLACE OLDER WINDOWS WITH NEW ENERGYSTAR QUALIFIED WINDOWS

If you have older, single-pane windows, it is likely they are drafty and allowing air conditioning to leak out. Most older windows also have poor or no insulation around the window frames. While it may seem like an expensive investment to replace all your windows, it will be worthwhile in the end with all the money you will save on your energy bill.

• SCHEDULE REGULAR MAINTENANCE FOR YOUR AC UNIT

Don’t wait until your AC isn’t working to have someone inspect it. Have a professional technician inspect and review your complete system to be sure that it is working efficiently. That way you can manage any problems before the system breaks down and you are left to deal with the heat while it is being fixed.

• INVEST IN A SMART THERMOSTAT

A smart thermostat will allow you to set the temperature to be slightly warmer during the hours you are not home, and then to adjust to a cooler temperature one or two hours before you get home. No more wasting air on an empty house or coming home to a “sauna”.

• REPLACE AC FILTERS REGULARLY

When it is hot outside, your AC filters are working harder than usual.It is recommended that you replace your AC filters every month; especially during the hottest months when it is running more frequently. When air flows easily, your AC system runs more efficiently.

• USE A DEHUMIDFIER

When there is a lot of humidity, the whole house can feel warmer, damper, and very uncomfortable. If you want to feel cooler in high humidity, consider purchasing a dehumidifier to help remove moisture from the air. Your house will feel cooler even when the temperatures soar.

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: aarp.org, pinterest, johnsonandsons.com, healthline.com

Not everyone is naturally tidy. For some, it takes conscious effort to keep a home neat and clean. Wishing that you were more organized and orderly isn’t going to make it happen. You must take action!  Sometimes it’s more about what you DO NOT do.  Here are 5 things people with tidy homes DO NOT do:

1. Tidy people do not allow the mess to accumulate until it becomes overwhelming. They are smart and know that cleaning a whole house all at one time is no fun. So, they have  daily tasks and strategies for keeping their homes in order. By maintaining a routine, they prevent their homes from ever getting too messy.
   
2. Tidy people never run out of cleaning supplies. Have you ever gone to clean the bathroom and realized you have no toilet bowl cleaner?  Do you remember the frustration of having to stop what you were doing to go to the store and purchase more cleaning supplies?  Tidy people do not let that happen. When you have an established routine for keeping house, it’s easy to track when you are running low on cleaning supplies. Keep a list so that next time you go to the store you will remember to pick up knew supplies before you run out.
    
3. Tidy people do not play first, clean later. You won’t find a tidy person sitting on the couch watching TV while there is a sink full of dirty dishes in the kitchen. Their motto is “better now than later”.  Because really, how can you enjoy anything if you are anticipating having to do chores afterward?  Take a few minutes to get things done as needed and then you can truly enjoy your free time.
   
4. Tidy people do not store things on the floor. There is no “drop and go” in a tidy person’s house. Everything has its place and there is a place for everything. Letting things stack up on the floor (think books, magazines, laundry baskets, back packs, the box of items waiting to go to the thrift store) can make your house seem a lot messier than it really is.
    
5. Tidy people do not over decorate. "Flat Surface Syndrome" does not exist among tidy people. Meaning, just because there is a flat surface, that doesn’t mean it must have something on it. A highly decorated surface can often look cluttered and messy. Also, tchotchkes are dust collectors, creating more for you to clean. That doesn’t mean you can’t have any special, decorative items around your house. Just limit them so that every surface isn’t covered with them.

If you are not neat and orderly by nature, it might take a while to break bad habits and become a tidy person. Start with these five “DO NOT” tips and before you know it, you too will have a tidy home!

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: aliciainasmalltown.com, lifesavvy.com, amyleehayes.com

There are a lot of perks to home ownership, but let’s face it; it can be expensive.  You are not only making a mortgage payment every month, but you are also responsible for maintaining your home. But there are lots of easy ways to save money without ever leaving the house. Follow these tips and start saving today!

1. Save money on your electric bill by utilizing natural ways to cool your house.  During the spring and summer, open your windows and use fans to get the air circulating through your home. Ceiling fans will help too. Moving the air through the house will help cool it down quite a bit.
   
2. Another way to save on your electric bill is to line dry your clothes. Dryers use a lot of electricity, and there are many good reasons to choose line drying.  Not only is it an energy saver, but it may extend the life of your clothing!
    
3. Get rid of cable television. With all the options for streaming shows on apps like Hulu and Netflix, you could save a lot of money by ending your relationship with cable and using apps to stream your favorite programs.  You might be surprised to discover that even after upgrading your internet, you will still pay less per month than you did for cable television.
    
4. Always unplug.  Even when you are not using an appliance, if you keep it plugged in, it is still pulling electricity. It may not seem like much, but over years you can save quite a bit by unplugging when not using things. Chances are you are not going to want to be bothered with walking around your house to unplug everything, but to make it a little easier, consider using power strips so you can just unplug that at the end of the day.
    
5. Use a shopping list. This may sound silly, but when you go shopping without a list you often come home with way more than you need. Make a list and stick to it. It will not only make shopping more efficient, but it will save you money in the long run.
   
6. Learn how to do basic home maintenance. You can save a ton of money over time by being able to take care of home maintenance yourself.  By doing small tasks like replacing filters and cleaning out dust, you can lengthen the lifespan of many appliances, thus saving money as well. 
    
7. Bundle up and save on heating costs. Invest in quality, warm blankets so you can turn the heat down and still be warm and cozy when you sleep at night.  Decreasing your heat by just a few degrees can save you a lot of money over time.
    
8. Create a budget and try to stick to it. By creating a budget, you will be more conscientious about your spending. It will not only help you to see where you are spending too much, it will also assist you in prioritizing your spending.

Saving money is important.  Whether you’re saving for retirement or for a special family vacation, it’s the little things you do that make a big difference in the long run!

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: thebalance.com, southernliving.com, housebeautiful.com

The possibility of losing your home to foreclosure is frightening. You likely feel a sense of helplessness and hopelessness. Not only do you have to worry about where you are going to live, but your future credit rating can be ruined as well. However, if you act quickly after getting a foreclosure notice, you can possibly avoid losing your home.

Here are some tips to help you deal with this crucial situation quickly and efficiently:

• If you can, pay the total amount past due on your loan. The lender would much rather have your money than your house, so this should prevent foreclosure if there are no mitigating circumstances. Of course, chances are that if you have received a foreclosure notice it is due to the fact that you don’t have the funds available to get current on your loan. But don’t despair…there are other options.
   
• If making your monthly mortgage payment is beyond your ability, you can attempt to modify the terms of your loan. Depending upon the circumstances, this could mean reducing your monthly payments or interest rate.  You can seek guidance from your lender, or you may be eligible for the government assistance through the Homeowner Affordability and Sustainability Plan (HASP), which will allow you to restructure your mortgage.  The purpose of HASP is to help people who owe more than their home is worth or have more debt on their home than income. Homeowner Affordability and Sustainability Plan
   
• While the goal is to keep your home, foreclosure may be unavoidable. You may want to consider attempting a short sale on your home. This requires permission from your lender. The purpose of the short sale is to sell the home for the amount of money needed to pay what you owe to your lender. If you can’t sell the home for the needed amount, you may be responsible for paying back the remaining balance of the loan.  Short Sale
  
• As a last resort, you may want to consider declaring bankruptcy. It is a huge decision that should not be made lightly because it can have some harsh consequences.  In addition, it may not allow to keep your home, so it is definitely risky. Filing bankruptcy means that all lenders and creditors you have are given a stay on your loans, meaning they cannot collect until your bankruptcy case is settled. However, this stay is temporary. If the foreclosure process has already been started by your lender, they will not be able to repossess your home until all issues have been worked out. You may be able to restructure your debts and create a payment plan that will allow you to keep your home, depending on the type of bankruptcy you file for. But there is also a chance that you might have to sell your home as part of the liquidation of your assets. It is vital that you speak to a financial advisor before going this route.

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: facebook, fool.com, moveinphilly.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

Under normal circumstances, spring is the busiest season for residential real estate with many people choosing to list their houses.  Spring of last year was far from “normal” and we’re not quite there this year either. We do know more people are looking to buy homes right now than there are homes available for sale; making this spring a prime time to put your house on the market.

Let’s look at what it means for you if you are thinking about selling your house.

Housing inventory declined 39.6% on a national level in 2020, making it the lowest housing inventory year on record, according to Realtor.com. In addition to the record low inventory, there has been a boom in buyer demand, thus creating a situation where home prices continue to rise.

With so few homes available for sale, buyers will be sure to notice when you put your home on the market.  And it is such a competitive market, that it is more likely you will find yourself getting multiple offers for your home. Per the Realtors Confidence Index Survey from NAR, the average home for sale is receiving 3.7 offers today, up from 2.3 offers just one year ago. That alone should make the idea of putting your home on the market very enticing!

This seller’s market gives you a HUGE advantage!

Another advantage of selling now is that when you get that great price for your house, you can use your equity toward a down payment on a new home.

But where will you go to buy a house if there are so few available?

Because there is so much demand for housing, homeowners are not sure what to do. While a house in good condition can get top dollar and sell quickly, there is a fear that once they sell, there might not be another house available in this market that they can afford.

Options for Home Buyers

There are options out there for people ready to sell and buy a new home. One thing to think about is new construction. When the supply of new homes for sale is below 6.5 months (how long it will take to sell existing inventory), builders take advantage of the opportunity and build more homes.  In December, the supply of new homes was 3.3 months. With such a low supply, builders are excited to start building to fulfill the needs of home buyers.

If you are looking to move up to a bigger or more luxurious home, you will find that there are more available at the higher end of the market, so now is a great time to find your dream “move-up” home! Or perhaps you are an empty nester near retirement and you are ready to downsize to a smaller, one level home and a 55+ community is the right move for you.  Selling now means getting top price for your house and the profit you make can get you into the right home that fulfills your needs and desires.

Another thing to think about if you’re on the fence about selling your home is forbearance. If you have benefited from not having to make full (or any) mortgage payments over the past year, it may be time to get out now!  This administration could retract forbearance at any time, thus helping supply; but higher payments or balloon payments could be on the horizon since forbearance is not forgiveness.

Whether you passed on selling your house last year due to the pandemic, or you just recently started thinking about selling, with inventory so low, it’s time to act now!

Getting your house on the market and ready to sell may seem like a big task, but  Sandra Nickel and her Hat Team of Professionals are ready and waiting to assist you with every step of the house selling process. Give them a call today at 334-834-1500!