Real Estate Information

There are many steps to take when purchasing a home, but one of the first and most important is finding the right mortgage loan. Knowing the right questions to ask a mortgage banker is key to your success in acquiring a loan that works for you. It’s vital that you are educated about everything related to your home purchase.

Here are the questions you should ask your mortgage banker to be sure that you are prepared for the lending process:

1. What is my credit score?

When you apply for a mortgage loan, your lender will take a look at your credit history including your credit score, your debt-to-income ratio (DTI), and your liquid cash and assets. Having a high credit score will definitely help you in the securing a loan. It is calculated by taking your payment history, outstanding balances, length of credit history, number of credit inquiries, and types of credit history all into account. Your lender will use your credit score to help determine the risk of granting you a loan.

2. What is the best type of loan for me?

Once your mortgage banker has all the personal financial information you provide, he or she will let you know the loan programs you qualify for. Every loan program has a minimum qualifying credit score and DTI ratio. A good mortgage banker will patiently walk you through each type of loan so you can determine which one you are most comfortable with.
 

3. How much should my down payment be?
   
   Many people believe that you must put 20% down when purchasing a home. That is not always true! You have options. A conventional loan generally requires at least 3% down. But if you want to avoid Private Mortgage Insurance (PMI), 20% is required. There are also some government-backed loans that range from 0-3.5% down. Your lender will go over these options with you thoroughly.
    
4. What are closing costs?
   When you close on your home, your closing costs may include property taxes, homeowner’s insurance, title search fees, and appraisal fees. There might be other costs as well. Basically all fees for services completed involved in the loan process need to paid and are taken care of with closing costs. These items will be itemized and your mortgage banker can answer any questions you have about them.
    
5. When will I close on my home?
   The time it takes to close on a house after getting your mortgage loan application approved usually runs anywhere from 30-50 days. As long as there are no last minute problems, the closing itself (signing the papers) may take about an hour.

Buying a home can be an overwhelming experience, especially for first-time homebuyers, but finding the right mortgage lender and asking the right questions will make the process less stressful for 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!

Photo Credits: mattersmortgage.com, lansingstatejournal.com, crosscountrymortgage.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

Many people look forward to Memorial Day weekend.  It has become the unofficial beginning of the summer vacation season and a much-appreciated long weekend for some people after a long winter and spring. The three-day weekend provides the opportunity to “celebrate” the whole time with picnics, parties, and family gatherings.  But the truth is, Memorial Day is a solemn “holiday”.  Here is a brief history of how Memorial Day came to be:

This American holiday is observed annually on the last Monday of May to honor the men and women who died while serving in the U.S. military.  It was originally called “Decoration Day” when it was begun in the years following the Civil War.  It became an official federal holiday in 1971. 

The Civil War, which ended in the spring of 1865, claimed more lives than any conflict in U.S. history.  Because of this, the country’s first national cemeteries were established.  By the late 1860s, Americans in many towns and cities had begun holding springtime tributes to the fallen soldiers. They decorated their graves with flowers and recited prayers.

Waterloo, NY was designated the birthplace of Memorial Day because beginning on May 5, 1866, it hosted an annual, community-wide event, during which businesses closed and residents decorated graves with flowers and flags.

The leader of an organization for Northern Civil War veterans, General John A. Logan, decided on May 5, 1868 that “The 30th of May, 1868, is designated for the purpose of strewing flowers, or otherwise decorating the graves of comrades who died in defense of their country during the late rebellion, and whose bodies now lie in almost every city, village and hamlet churchyard in the land.” He called it Decoration Day, and chose the date because it did not coincide with the anniversary of any particular battle. John A. Logan 

General James Garfield spoke at Arlington National Cemetery  on the first Decoration Day, where 5,000 participants decorated the graves of the 20,000 Union and Confederate soldiers buried there. 

Decoration Day gradually became known as Memorial Day. While it originally honored only those lost while fighting in the Civil War, after WWI, the holiday evolved to commemorate American military personnel who died in all wars.  It continued to be observed annually on May 30th for decades, but in 1968 Congress passed the Uniform Monday Holiday Act to establish Memorial Day as the last Monday in May so that there could be a three-day weekend for federal workers.  The change went into effect in 1971.  The same law also declared Memorial Day a federal holiday.

So, while it’s great to have a long weekend, and fun to celebrate the unofficial start of summer vacation season, take some time this Memorial Day to remember and honor those who lost their lives to save our freedom.

Photo two – americanhistory.si.edu
Photo three – military.com

Montgomery AL Home For Sale:

1931 Ellen St, Montgomery AL 36106

MLS# 494000 | 3 Bedrooms | 2 Baths | 2,130 Square feet | Old Cloverdale

Feels Double the Size

Virtual Tour

With 12' ceilings and a beautiful open floorplan, this home on Old Cloverdale's most private street feels double the size. A beautiful living room with large windows and large crown molding gives way to a massive chef's kitchen with GE stainless Steel appliances, over 30 cabinets and drawers, plus a breakfast bar, recessed lighting, huge laundry room, a separate bonus room perfect for an office or kid's room. A jetted tub and separate shower await you in the master bathroom which looks out at your 500 sq. ft. back deck. Beautiful hardwoods plus ceramic tile in the kitchen, laundry and master bath will delight you. The two space carport and covered front porch make for a cozy house that is not going to be on the market long. The back yard is privately fenced and has a detached storage/workshop. This Midtown Montgomery home is a must see!

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

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

Montgomery AL Home For Sale:

1512 Hallwood Ln, Montgomery AL 36117

MLS# 4916233 | 3 Bedrooms | 2 Baths | 1,454 Square Feet | Thorington Trace

Split Floor Plan Offers Lots of Privacy

Virtual Tour

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

Joining the military was a huge decision that required a lot of thought. Now that you have made the commitment to serve your country, there are other big decisions you will have to make that have to do with the transient lifestyle military life entails. A decision you will have to make each time you transfer to a new duty station is whether you should buy or rent a home.  There is a lot to consider before making this decision.

Why should I buy?

Many may wonder why they should buy when they know they will be moving on in a few years. Well, here is one BIG reason: the VA Loan Program.  A VA Loan is a mortgage loan for service members that is guaranteed by the U.S. Department of Veterans Affairs. The main purpose of this program is to assist active duty military and veterans in the financing of a home purchase. These loans offer advantageous terms that make buying a home an attractive financial option. If you are in the military or you are a veteran, you may be eligible for a VA loan and many of the perks of VA loans are NOT available with other home loan options.

But wouldn’t renting make more sense?

The loan terms of VA loans are definitely in your favor if you want to buy a home, but there may still be times when renting might work better for you. Here are some things to consider when trying to decide whether buying or renting is the best option:

• How often will you be moving? This greatly depends upon what branch of military you are in and what career path you are on. People assume that all military families move every few years, but the truth is, the amount of moves vary widely across the different branches. If you don’t think you will be transferred frequently and will be in a home for five or more years, then buying a home would definitely better suit your needs. However, if you think you will be moving more frequently, renting might be the better option, unless renting your home out when you relocate sounds like something you would be interested in.
  
• Depending on what branch of the military you are serving and what your position is, it may require you to be deployed much of the time.  It may seem silly to buy a home when you will be away so much you might be surprised at the benefits of doing so. For example, say you are single and you’re renting; unless you can sublet, you will be paying rent on a “home” that you won’t be living in for parts of the year.  However, if you buy a home, you will be paying a mortgage and building equity…a great investment for your future!  This is true even if you have a family that stays in the home when you are deployed. Knowing they have a place of their own will give them peace of mind while you are away.
   
• Reselling your home can be profitable depending on how long you have been there. When it comes time to relocate, thanks to not having to make a down payment or pay PMI (perks of that VA loan we talked about above!), you will likely at the very least break even on the sale of your home, if not make a profit. Just be aware of the current real estate market conditions which will determine how long it may take to sell your house and how much you can get for it.  If you are not able to sell right away, you need to have enough money saved to pay your mortgage while also paying to live somewhere else.
   
• Do you want to be a landlord?  If you don’t want to sell the home (maybe you want to move back there someday, or maybe you want to keep it as an investment), renting it out is a great option. But there are challenges to being a landlord, especially when you live far away from your property. You may have to hire a property management company to maintain the home in your absence. Make sure you consider all the costs involved before deciding it it’s financially worthwhile to rent your home out.

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: kiplinger.com, forbes.com

Montgomery AL Home For Sale:

2936 Jamestown Dr, Montgomery AL 36111

MLS# 494235 | 3 Bedrooms | 2.5 Baths | 2,100 Square Feet | MeGehee Estates

You MUST See This!

Virtual Tour

You must see this beautiful Townhome on one of the most desirable streets in McGehee Estates! Entering the foyer, you can feel the openness of the great room with a view through the wall of windows overlooking the private courtyard. A handsome office/study/den with built-in bookshelves is at the front of the home. Then you step down into the great room that has a huge brick fireplace surrounded by built-in bookshelves including a wet bar. The dining area flows into the breakfast nook at the back of the galley kitchen (Corian countertops, stainless appliances, pantry and lots of cabinets), with a door leading into the courtyard brick patio that will be your most favorite spot to relax or entertain. Upstairs is the large master suite with a walk-in closet and double vanities, along with two guest rooms with good closet space. This is a wonderful street in a convenient location. Come see for yourself today!

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

There is a low inventory of homes to buy right now and the competition for homes can be fierce.  If you are looking to purchase a home, chances are you may find yourself in a BIDDING WAR. Be prepared!  Here are six ways to come out on top in a bidding war:

1. Get your finances in order and get as much cash as you can.  It is never too soon to get pre-approved for a loan. In fact, the sooner the better. Sellers will have lots of options and will be leery of those who do not have loans set in stone. If possible, bring cash to the table. Sellers will fear appraisals coming in low and loans falling through, so be prepared to cover the difference with cash.
    
2. Don’t hesitate! Be the first to make an offer, and make it a good one. An insulting offer will put you at the bottom of the seller’s list, so it is not a good time to low ball. Come in at or slightly below asking price so that they know you are serious about purchasing their home.
   
    
3. Escalation Clause.  This is the amount of money the buyer agrees to increase the offer if there are other bids. If you offer the asking price of $400,000 on a house, but it might sell for $450,000, put in an escalation clause stating that you are willing to go as high as $460,000. But know your limit. Don’t offer more than you can handle. Also, make sure the clause states that the seller can only take the winning bid up to a level just above the competing offers. For example, if an offer comes in for $430,000, your bid would be upped to $431,000.
    
4. Get a pre-inspection. It will cost you a few hundred dollars, but it can help you in a super-tight market. If you can make a bid that is not contingent upon inspection, sellers will look favorably on your offer versus the same offer from someone who has a contingency in their contract.
    
5. Think with your head, not your heart. BE SMART! Purchasing a home is an emotional decision, but emotions can get in the way of making wise decisions.  Make sure you have done thorough research of the market: look at the most recent comparable sales, compare prices from a year ago, visit local schools, have coffee at the closest café and speak to potential neighbors. Look at listings nearby. Whatever you do, don’t overpay because you get caught up in the heat of the competition. While the house may seem perfect for you, it is not the only house that will be perfect for you. So, keep a level head and MAKE INTELLIGENT DECISIONS.
    
6. Finally, and most importantly, HIRE AN EXPERIENCED, PROFESSIONAL REALTOR to guide you through the process. The benefits of having a Realtor are priceless because they are experts in negotiating multiple offers, and now more than ever, you need that expertise on your side!

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: dsnews.com, forbes.com

Montgomery AL Home For Sale:

1211 S Perry St, Montgomery AL 36104

MLS#494901 | 3 Bedrooms | 1.5 Baths | 2,327 Square Feet | Garden District

Character and Charm Personified

Virtual Tour

This home has all you would expect from a historic Garden District home in Midtown Montgomery. Well-proportioned rooms boast high ceilings, great moldings, and lots of natural light from large windows. Enjoy entertaining in the oversized living and dining rooms, and more casual living in either of the two cheery sunrooms. The large kitchen will accommodate several "chefs" at one time, and the ample bedrooms are large enough for lots of heirloom furniture. A fixed staircase leads to a floored attic with tons and tons of storage, and there is even an unfinished basement with endless possibilities! The private backyard has a brick pathway and mature landscaping, and is accessed via an automatic car gate for off-street parking. There is a detached storage building as well. You just don't find this kind of charm and character in newer construction, and at this price, there is room to customize the kitchen and baths to your personal taste!

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