Real Estate Information Archive

When you are searching for a new home, location is one of the most important factors to consider. You might love a house, but if it’s not in the right neighborhood, it may not be the right house regardless of how much it appeals to you.  So, before you start scrolling through home listings online, it is smart to have an idea of WHERE you want to live. 

Here are some things to consider when searching for the right neighborhood:

1. You may have heard this saying before: “It’s better to have the worst house in the best neighborhood than the best house in the worst neighborhood”. While nobody really wants to live in the “worst” house anywhere, there is some good logic behind this statement. If you ever plan to sell your home, its value will be impacted by the surrounding homes in the neighborhood.  For that reason, you will have better resale value if you are surrounded by homes that are like yours.  So, it is a good idea to research home values in the neighborhoods that appeal to you.
    
2. How important is convenience to you? Some people prefer living in more rural areas, but others desire proximity to things like major interstates, shopping areas, medical facilities, and schools. Before you start your home search it is important to decide how much convenience matters to you. In addition, you may want to think about the fact that having a home that is convenient to highways and such can have a positive impact on your resale value.
   
3. Are home values rising or falling in the neighborhood? If a neighborhood has home values that are climbing, that is a positive indication that it is a good place to buy.  However, if a neighborhood has stagnant or falling home values, it might not be the best place to look for a home. Many things can have an impact on home values; for example, if an area is growing with new businesses, the career opportunities involved can lead to rising home values in the area.
    
4. Does the neighborhood have an HOA? (Homeowners Association)?  Some people love an HOA. They appreciate how it protects home values by establishing rules for maintaining the appearance of the homes and neighborhood. They also enjoy perks such as a neighborhood pool and clubhouse, parks, and walking trails.  However, for other people, an HOA is a deal breaker. They do not care for the rules and regulations (and payments) that come with it. HOA regulations and costs vary from neighborhood to neighborhood, so it is important to research them before you decide to live in a community with an HOA.
    
5. How are the schools rated? Whether you have children or not, the school system is an important factor when choosing where to live. If you plan to send your children to public school, you will want to live where schools are highly rated. You may think that if you do not have kids in school, it doesn’t matter how the school system is rated. But that thinking is a mistake. The truth is that the rating of a school system can have a huge impact on your resale value; positive or negative.
    
6. How safe is the neighborhood? Safety is important to everyone. Nobody wants to live in a neighborhood that is not safe. You can research crime statistics for neighborhoods online. If you are relocating to a new state and you are not familiar with the area, an experienced local Realtor is a great resource to help you determine what areas are safe for you and your family.

There are so many factors involved in the home buying process, but determining the right location is a decision that requires thought and research. Once you have found the right place, then you can start searching for the right house!

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://homesforsaleinmontgomeryalabama.com for more information.

Photo Credits: proptiger.com, foxroach.com, bendrelocationservices.com

Deciding to buy a home is exciting. But it can also be overwhelming, especially for first-time homebuyers. There is so much to think about! Before you start your home search, you should find a mortgage lender who can help walk you through the home-buying process.

Follow these mortgage tips and you will be prepared to purchase the home of your dreams!

• FIND THE BEST LENDER

With a little homework, you will be able to find the best lender to help walk you through the home-buying process. Get recommendations from friends and family or from your Realtor. Interview lenders. Find out what their closing time averages are and look up customer satisfaction rates. This is likely the largest financial investment you will ever make, so be sure that the lender you choose is right for you both personally and financially.

• DETERMINE HOW MUCH YOU WANT TO SPEND ON A HOME

There is a difference between what you can afford and what you are willing to spend. Many factors play into this decision. Your lifestyle, the size of home you’re looking for, and other expenses should all be considered. You might be shocked by what the numbers say. Chances are you won’t want to spend as much as you qualify for. So, work out a budget first and don’t overestimate what you can afford.

• GET PRE-APPROVED FOR A MORTGAGE LOAN

The last thing you want to happen is to find the perfect home and not be able to make an offer because you haven’t been pre-approved for a loan. Taking the time to do this now will save you time and grief in the future.

• STOP SPENDING

Now is not the time to make large purchases. Avoid taking out new lines of credit. Don’t purchase a new car or apply for a new credit card. Make sure that you are not adding to your credit card balances. Remember that your Debt to Income Ratio is a vital piece of the mortgage puzzle and can be a deal breaker if you go over your limit.  Save large purchases for after closing day.

• DON’T RUSH!

Now that you’ve got all your ducks in a row, the fun begins. Take your time searching for the right home. This is a financial investment that you will be living with for a long time, so don’t settle. Professional Realtor Sandra Nickel and her team can answer any questions you have about purchasing your first home. 

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://homesforsaleinmontgomeryalabama.com for more information.

Photo Credits: loans.com, realtor.com, schlage.com

House hunting can be overwhelming sometimes, especially when beginning the search for your first home. Chances are you might get caught up in the process and important details might slip by you. While the number of rooms, condition of the kitchen, and size of the yard are important, there are other things to consider before you make an offer. 

Here are things to look for to get your house hunting off to the right start:

• Location

They say that the 3 most important things to look for when buying a home are location, location, location! While a home might not be perfect, loving your neighborhood and neighbors can make all the difference in living with imperfection. And face it…you can change almost anything about your house, but you can’t change its location or the people living nearby. When you go house hunting, make sure to consider the home’s proximity to your work, the appeal of the neighborhood, where in the neighborhood the home is situated, ease of access, noise from neighbors, traffic, pets and access to parks, shopping, schools and public transportation.

• Home Placement

Beyond location, look at how the home is situated. If the home is on a hill does it have a view, a walkout basement, or lots of stairs to climb? Do neighbors' windows look directly into the home? Is the yard suitable for kids, pets, gardening, or other uses? Is there safe access to the home? These are all important questions to ask yourself when determining if it is the right property for you.

• Check Out the Neighborhood

While it’s important for your house to meet your expectations, it’s equally important that the neighborhood meets them too. Take a drive around the development you are interested in on weekdays and weekends, during the day and in the evening. Are the homes in good repair? Are yards kept clean and tidy?  Is the neighborhood safe enough for people to walk, run or bike?  Are there children playing outdoors?

• Consider a Home’s Curb Appeal

You want a home that is going to reflect your lifestyle. Do you live a casual, laid-back life? Then you probably won’t want a formal Victorian or Tudor style home.  A simple, contemporary home might better suit you. Pay close attention to exterior features. Think about maintenance. For example, a brick home is easier to maintain than one with siding. Do you like working in the yard? If not, you might not want a house with extensive landscaping. Is the roof in good condition?  Attention to detail will help you choose the home with the best curb appeal for you.

• Size and Floor Plan

You may be thinking about buying your dream home. But is your dream home practical?  Do you need 4 bedrooms and 4 baths when you live alone? A spacious home may provide the extra room you've always wanted for a home office or a theater room, but you'll pay higher heating bills and have higher taxes. Additionally, it will take more furniture to furnish and money to decorate. Think about how the new home space will be used and whether it will fit your lifestyle now and in the future.

• Bedrooms and Bathrooms

Decide how many bedrooms and bathrooms you will need and only look at homes that meet that criterion. You don’t want to fall in love with what is otherwise a perfect house if it doesn’t provide the space needed for your family. It is smart to consider counting an extra bedroom in that number so that you have extra space for a home office or guest room. If you think you might add on to the home later, make sure you consult an architect who can advise you on space planning and regulations.

• The Kitchen

For many people, the kitchen is the heart of the home. Don’t settle for a home with a kitchen that doesn’t work for you. Yes, you can remodel later, but at great expense. If it is an easy fix like replacing cabinets or countertops, get a price quote before committing to the house so that you will know if it is within your budget to take that on.

• Closets and Storage

Older homes often have small closets and lack storage space. As you’re looking at a home ask yourself where you will store your belongings. Tiny closets don’t have to be a deal breaker. There are ways to maximize storage without renovations. Newer homes tend to have lots of storage, and you may sacrifice living space while having more closet space than you need.

• Windows and Lighting

While looking at a home keep in mind your preferences regarding light and privacy. Do you want a lot of windows to provide bright, sunny rooms?  Pay attention to the locations of electrical outlets and fixtures to make sure they will meet your lighting needs.      

• Finishing Touches

Even a simple home can look spectacular with the right moldings, hardware, and a fireplace. If elements like these are important to you, look for them while house hunting. 

You may not find everything you want in one house but keep this list handy and you are more likely to find the home that best suits your needs and desires.  Happy House Hunting!

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://homesforsaleinmontgomeryalabama.com for more information.

Photo credits: ramseysolutions.com, statefarm.com, verv.com, bobvila.com

When purchasing a home, the many different loan options available to you can be a bit overwhelming. With different names, various term lengths and many other factors on the table, it can be confusing trying to figure out which loan is best for you. While your mortgage lender and your Realtor can both answer questions you may have, it’s still smart to do your own research so that you have a basic understanding of mortgage loans.

Let’s focus on the two major options that affect your mortgage: the term of the loan and the type of interest rate attached to it. The term of the loan is the amount of time you have to pay it off.  Two of the most common loan terms are 15-year and 30-year loans. There are pros and cons to both. In addition, there are two types of interest rates to choose from: a fixed-rate or an adjustable-rate. Each type of loan combination has perks that meet your specific needs and will determine your monthly payment and the total interest you will pay.

First we will look at a 15-year fixed-rate mortgage loan.

This is a loan that you pay back over 15 years with the same interest rate throughout the life of the loan. One of the biggest benefits of a 15-year fixed-rate mortgage loan is that you will pay it off in half the time of a 30-year loan. Obvious, right? But what you may not realize is that you will also be paying less toward interest AND you will be building equity more quickly.  Paying your loan off faster means being able to use your hard-earned money for other things like retirement savings, college tuition for children, travel etc. However, while having a shorter term will often garner a lower interest rate, it still likely means higher monthly payments. And that is something you need to think about when deciding what kind of loan to pursue. For example, say your loan amount is $184,000 and you have a fixed interest rate of 7%.  You will pay about $1,650 a month with a 15-year loan verses about $1,220 a month with a 30-year term.  Since your payment will be lower with a 30-year loan, you might be able to qualify for a larger amount if you choose the loan with the longer term.

Shorter term loans usually have lower interest rates. This is because the lender is taking on less risk when money is borrowed for a shorter amount of time and they are able to get their interest back sooner. Locking into an interest rate with a  fixed-rate loan means you will pay at that interest rate for the entirety of your loan term. Since rates fluctuate daily, this is a good thing. However, there is always a chance that interest rates could drop lower than your rate, in which case an adjustable-rate mortgage might be beneficial. Adjustable-rate loans are risky though, because your rate could also go much higher meaning higher monthly payments and more interest paid throughout the life of the loan. The main reason to think about getting an adjustable-rate mortgage loan is to get a lower monthly payment. Since you are taking on the risk of rates rising, the bank will often reward you with a low rate starting out.

Now, let’s look at a 30-year mortgage loan. 

This is a home loan that will be paid off completely in 30 years as long as every payment is made as scheduled. Most 30-year mortgages are fixed-rate loans, meaning the interest rate will stay the same throughout the life of the loan. When you take out a 30-year loan, you may qualify for a higher amount than you would with a 15-year term. In addition, you will have lower monthly payments, making a more expensive home affordable for you. You also will enjoy the flexibility of being able to pay the loan off faster by adding to your monthly payment or making extra payments. But you can always go back to your regular payment when you can’t afford to do more. It’s easier to qualify for a 30-year loan and with the lower payments, you might have money left over each month for other things like savings, travel, etc. Just keep in mind that with a 30-year mortgage you will likely be paying a higher interest rate as well as more interest over the years, and you won’t be building equity as fast as you would with a 15-year mortgage.

Choosing what mortgage works best for you is a personal decision based on your needs.  Again, your mortgage lender and Realtor can help you do the math to determine what type of loan is going to give you the best outcome.

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.

Photo credits: texasunitedmortgage.com, corbymortgage.com, totalmortgage.com, mortgagemoon.com

You are ready to purchase your first house.  Your credit score is great.  You know you can afford a monthly mortgage payment based on your budget.  You are sure you will be approved for a mortgage loan.  But that down payment!  How the heck are you supposed to come up with 20%?  Don’t despair, because the truth is, you don’t need a 20% down payment to purchase a house!

Saving for a down payment on a house can seem overwhelming for many people.  Keep in mind that it can come from various sources.  Funds can come from bank accounts, stocks or mutual funds, an inheritance, or a gift from a family member.  Some people will even use assets from their retirement portfolio.  Requirements regarding where the money comes from for your down payment depend on the loan type.  Also, purchasing a primary residence usually requires a lower down payment than if you are purchasing a second home or buying an investment property. The Different Types of Mortgage Loans in 2018, Explained

The myth about down payments is that 20% is the norm. While that may have been true in the past, it’s not anymore.  The fact is that per the National Association of Realtors, a majority of homebuyers purchased their home with a down payment of 6 percent or less. Unfortunately, a lot of people don’t even consider buying a home because they still think they need 20% down.  The NAR'S Aspiring Home Buyers Profile 2018 found that 36% of non-owners believed that saving for a down payment would be very difficult. Chances are they still believe in the 20% down myth and it is just not the case anymore!

So, now that you know you don’t have to have 20%, perhaps buying a home seems more within reach.  But there are still some things you should be aware of before taking that first step toward homeownership.  Various factors are at play in determining if you should take on a mortgage with lower down payment.  For example, the less you put down, the larger your mortgage payment will be each month.  That is because you will have a larger loan amount, possibly a higher mortgage interest rate, and the added cost of Mortgage Insurance.  So, while you don’t have to come up with more cash, your monthly costs go up.

Once you have educated yourself about the requirements, you can make informed decisions about your budget and how much you can afford.  Don’t let the 20% down payment myth stop you from pursuing your dream of home ownership! 

If you are in the market to sell or buy 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!

The decision to purchase your first home is not one that should be made lightly.  It is an important, life-changing decision that should be given serious consideration.  So, before you take the plunge into searching for the prefect home, here are some questions you should ask yourself to make sure that you are ready.

- Can I afford a home?  The first step is to determine if you can afford to buy a home based on your current financial situation.   Using a Home Affordability Calculator will help you figure out how much you can afford by plugging in your income, debt and the amount of a down payment you will be able to make.   You will now have a number for the highest amount you can afford and what the monthly payment will be.

 - Is it better for me to rent or buy?  Using a Rent vs. Buy Calculator will allow you to crunch the numbers. You can enter the current amount of rent you’re paying (or how much you would be able to pay) and the zip code where you want to live. The calculator will provide a comparison of the cost of buying a home versus renting in that area.  You will also be able to see which option is more cost effective over time.

 - How long will I live here?  If you plan to stay in a home for a long time, it is generally better to buy versus rent. If you’re going to be living somewhere for a short term, renting might be the better option.  The reason is that when you buy a home you will likely have to pay closing costs which can total in the thousands of dollars.  In addition, most of your early mortgage payments go toward interest rather than paying down the principal, which is the actual amount you owe on the home.  A good rule of thumb is that home buyers should stay put for at least five years.  Otherwise, renting may be better.

 - Are you saving for retirement?  Retirement may seem a long way off to young home-buyers, but it is important to start saving early.  It’s not a good idea to neglect your retirement accounts to “save” money to put down on a house.   Consider meeting with a financial counselor who can help you find a balance in saving for retirement and saving for your first home at the same time.

 - Am I ready for the responsibility?  Owning a home is a huge responsibility.  With rentals, you can call your landlord to fix things that aren’t working in the home, but as an owner, it’s all up to you.  You need to be sure that you have the time, willingness and resources to keep up with home and yard maintenance.

Sandra Nickel and her Hat Team of professional Realtors at Homes for Sale in Montgomery AL can assist you in the process of determining if you are ready to purchase your first home.  Give them a call at 334-834-1500 and get started today!

It is almost time for the seasons to change once again as we move from winter slowly into spring.  As the seasons change many people find that they like to get things around their home organized to make the transition seem smoother.  Organizing your home can be made simple with a few of the following tips. 

1. One way to organize your home is to get rid of “junk drawers” throughout the house. Many times folks tend to throw things they don’t know what to do with into a drawer that soon becomes a drawer full of junk. While these drawers DO keep the junk out of the eye of those that come to visit, you just never know when someone may open one of them looking for utensils or other useful items and you may be embarrassed by them.  Simple fix…..throw out the junk once and for all and have no more junk drawers in your home!
2. Another great and simple way to organize your home   is to organize and de-clutter your pantry.  Typically there are items in your pantry that you haven’t used in years and they end up just sitting there taking up space.  This is very true for old canned food items that tend to have a shelf life of forever.   Once you get this simple organizing of your pantry complete, be sure not to let it get messy again by throwing away things you don’t use periodically. 
3. Yet another simple way to organize your home  is to use all of your closet space for things you will actually use instead of just getting things out of the way.   If you have a lot of games for example why not make a game closet just for the purpose of storing all of your family games.  This type of closet will make it more likely that your family may have a game night once a week because you will know exactly where to go to find the games. 
4. Keeping all of the books in the house in one spot is another great organization tip.  If you have various bookshelves in your home, you can utilize them for other purposes and keep one for only books.  Organize each shelf for books from each family member if you have a lot of books.  

Courtesy of Montgomery AL Real Estate Expert Sandra Nickel.   

The kitchen is a place in the home where many hours are spent preparing meals and spending time with family.  If the kitchen is boring and not ecstatically pleasing to you or your family, no one is going to want to spend any time there.  Below is a list of a few ways in which you can spruce up your boring kitchen and make it a place where you really love to be.  

1. One of the first ways you might think about to spruce up a boring kitchen is buying new appliances.  The typical type of appliance these days is stainless steel.  Another type of appliance that folks are using these days are the ones that look just like cabinets.  Whatever type of appliance you decide to buy, you will be helping your kitchen look as good as it possibly can.
2. Another way to spruce up your kitchen is by changing the paint color.  If your kitchen is older, it is possible that the paint has gotten worn over the years and adding a pop of color with new paint can make all the difference in the world.
3. Yet another good way to spruce up a boring kitchen  is by changing the cabinets.  You can choose to have all new cabinets put in or you could just change the way they look by painting them.  Antiquing is a popular way to refinish and spruce up furniture.  Antiqued cabinets are very beautiful and can make a kitchen look really nice. 
4. Buying some new lighting for your kitchen is an easy way to spruce it up.  You can get as crazy as you want with lighting when it comes to making your kitchen an exciting place to be.  Go to your local hardware or lighting store to see what all is available for you to choose from. 
5. New flooring in the kitchen is another way to make it look updated.  If you currently have laminate you may want to change it to tile, or you could choose to extend the hardwoods from the family room or whatever room adjoins the kitchen into the kitchen.   

These are just a few ideas for sprucing up a boring kitchen.  Hopefully they will get you started in the right direction for making your kitchen a room that everyone wants to congregate in.  

Courtesy of Montgomery AL Real Estate Expert Sandra Nickel.   

Today we are going to let you in on a few ideas of what characteristics home buyers are looking for these days so that you can get top dollar for your home.  There is no better time than now to get busy about getting your home ready to sell.

• One of the most important things that home buyers these days are looking for is that there is a laundry room in the home.  Most folks do not want a laundry closet but an actual room where they can escape in order to get their laundry done.  A great way to catch the eye of the women of the family is to have a nice laundry room  with updated appliances and a few extras as well.  Many of these extra’s can be done DIY style.
   
• Exterior lighting is another way to catch potential home buyer’s attention quickly.  As the days grow longer and it stays light longer many folks will be driving around looking at homes late into the evening.  By lighting your home up on the outside you are doing a great service towards selling your home more quickly. 
   
• Replacing old windows for new energy efficient windows is a characteristic that many home buyers may be looking for.  With the high costs of energy these days, folks are doing all they can to lower their electric bills.  Buying energy efficient windows will help lower electric bills dramatically.
   
• Extra storage space in your garage is a feature that most men will love in a new home.  By taking time to add some extra storage in your garage before a sale you may be adding extra change in your pocket. 
   
• Eat-in kitchens are essential for a home to have for most people these days.  If your kitchen is not eat-in you may want to do a little bit of remodeling before you put your house on the market. 
   
• Kitchen pantry storage is of up-most regard for most home buyers these days as well.  If you already have adequate pantry space then it would be a good idea for you to purchase some organizational shelves and such to make it less cluttered and more organized. 

These are just some of the many characteristics that potential home buyers are looking for in today's market.   If you can, it will serve you well to add at least one of these to your home before you put it on the market.

Information provided by Montgomery AL Realtors Sandra Nickel Hat Team.

Montgomery Real Estate For Sale:

3413 Country Church Road Montgomery, AL 36116

MLS#294910

Handsomely updated traditional home with big rooms and lots of storage too. New neutral carpet in living areas, hard tile in kitchen, baths, laundry and bedroom wing center hall--low maintenance! Wonderful master bath with 2 vanities and huge walk-in closet.Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.