Real Estate Information

When you purchase a home, you are not only choosing where to live, you are making a financial investment as well. Home equity is the percentage of your home value that you own and with each mortgage payment you make you are contributing to your own financial savings.  The goal is to build up as much equity as you can so that when you sell your home, you will make a nice profit!  Here are some tips for building home equity:

• Take Out a 15-Year Mortgage Loan - It’s common for people to choose a 30-year mortgage because many believe a 15-year mortgage is out of their budget.  However, it can’t hurt to ask your mortgage lender to run the numbers to see if a 15-year mortgage is doable for you.  You might be surprised to discover that the shorter term is within reach.  Sticking to a budget that allows you to pay off your house in half the time will build equity faster and will certainly pay off in the long run! 32 Hacks for Sticking to Your Budget
   
• Pay Down the Principal - Build equity faster by paying down your home loan quicker.  Even if you don’t have the ability to take out a 15-year mortgage, you can still make extra mortgage payments when you have the means to do so and the difference extra mortgage payments can make toward building equity are huge. If you make just one extra payment toward principal each year, you can potentially pay off your home loan seven or eight years ahead of schedule.  There are ways to do this without breaking your budget.  For example, you can use a tax refund or a work bonus.  Another way to do it is to simply add a small amount to your principal payment each month.
   
• Make a Larger Down Payment - Depending on your credit standing, you can qualify for a conventional mortgage loan with a down payment as low as 3%, and an FHA loan with a down payment as low as 3.5%.  While it’s tempting to buy a house with a low down payment so that you have more cash on hand, the pros of making a larger down payment may outweigh the cons. The larger the down payment, the faster you build equity.  The faster you build equity, the more profit you will make should you have to sell your home before paying it off.
   
• Make Improvements on Your Home - Making home improvements is a good way to add value to your property.  It’s important to educate yourself about what home improvements give you the best ROI (return on investment).  For example, per Chris Terrill, CEO of HomeAdvisor, “a minor kitchen remodel is one of the best investments homeowners can make.”  “Projects including refinishing cabinets, updating the countertops and installing new appliances all provide high return without breaking the bank.”  Other home improvements that add value to your property include replacing garage doors, adding a bedroom, updating a bathroom and installing new windows. And don’t underestimate the value of curb appeal!  A professionally landscaped yard will not only help with a quick sale; it can also add up to 20% to your home’s value! Which Home Improvements Pay Off?

Owning a home is likely the largest financial investment you will make, and the more equity you acquire, the more wealth you will generate.  You can utilize your equity as a nest egg for the future or it can be used as a cash down payment on your next home.  Use these tips to build up your savings an enjoy this wonderful perk of home ownership!

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!

Photo Credit: achievalife.com

Perhaps you are ready to buy a home, but you think you can’t because of a low score on your credit report.  Bad credit can present challenges when purchasing a home, but it doesn’t have to keep you from moving forward with your dream of becoming a home owner.  With interest rates still low, now is a great time to buy, so don’t let bad credit hold you back! Here are some tips for how to buy a home even when you have bad credit:

• Get your credit score.  Take a deep breath and do that search.  There are several places you can get your credit score for free. Just keep in mind that you will have three credit scores - one each from Equifax, Experian, and TransUnion. These are the three major credit reporting agencies, so it’s a good idea to get scores form all of them. Get Your Credit Scores
   
• Make sure your credit report is accurate and up to date. Your credit report is like a history of how you have handled borrowed money.  There may be errors in it and if so, that could damage your credit score.  You can get a free credit report from each of the three major credit reporting companies annually. When you get the reports, look over them carefully to make sure all the information is correct. If you find any errors, you can dispute them with the reporting companies. How to Dispute Credit Report Information
   
• Prepare yourself to pay a higher interest rate.  Qualifying for a mortgage with a lower credit score is possible if you are willing to pay a higher interest rate.  That’s why it’s a good time to buy when rates are relatively low to begin with.  Lenders charge more to protect themselves should the buyer make late payments or fail to make payments altogether. Unfortunately, bad credit means that you likely have a history of doing just that.  While a higher interest rate does mean a higher mortgage payment, it may be worth it to become a homeowner investing in your own home rather than paying rent to a landlord.
   
• Apply for an FHA loan. Loans insured by the Federal Housing Administration (FHA loans) have lower credit requirements.  With a credit score of at least 580, you can qualify for an FHA-insured mortgage with a down payment of just 3.5 percent of your home’s final purchase price.  However, there are some catches.  First, FHA loans are insured by the Federal Housing Administration, but they are originated by traditional mortgage lenders.  Even though they can originate FHA-insured loans for borrowers with scores as low as 500, it doesn’t mean they are obligated to do so.  They can choose to require higher credit scores.  Secondly, FHA loans come with a financial penalty.  With traditional mortgage loans, you can cancel your private mortgage insurance (PMI) after building up enough equity.  With an FHA loan, you must maintain private mortgage insurance for the life of your loan. Let FHA Loans Help You
   
• Make a larger down payment. If you can come up with a larger down payment, lenders may be willing to take a chance on you. While it’s possible today to get a mortgage with as little as 3 percent down, people with bad credit may find that making a larger down payment is what will get them the mortgage loan they seek. When you put down more money up front it shows the lender that you are willing to take on the risk of a home loan. The lender also will feel you are less likely to walk away from a large financial investment.  If you can come up with a down payment of 20 percent or more, you will increase your chance of getting approval on a mortgage loan. Top 10 Ways to Save For a Down Payment
   
• Rebuild your credit. If your credit is so bad that a mortgage is not feasible right now, don’t despair. It just means that it is time for you to start rebuilding your credit so that you can become a home owner in the future.  To do this, you simply need to start paying all your bills on time every month so that you can build a better credit history.  Also, pay down as much credit card debt as possible to raise your score.

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!

Photo Credit: virginiamortgagelender.com

0 Felder Avenue, Montgomery AL 36104

MLS# 471622

Picture yourself sipping tea (or an adult beverage) on the front porch of your hassle-free brand new home. Wave to your neighbors as they pass by walking their dogs or working out. Then smile smugly to yourself. While they deal with old house issues, you'll enjoy the best of both worlds: new construction and historic district ambiance. Architectural controls assure you that the surrounding historic homes will retain their integrity, which supports your property value. And you'll find yourself only moments from all the action downtown and in Cloverdale. Sweet!

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

Montgomery AL Real Estate: 3334 Cloverdale Road, Montgomery AL 36106

MLS# 472848

3 Bedrooms | 2 Baths| 1,925 Square Feet | Cloverdale/Idlewild

This adorable Cloverdale cottage in Midtown Montgomery has all the charm you expect in historic homes...like arched doorways, transoms, great molding, and built-ins. And, this one has not only had nice updates to the kitchen and guest/hall bath, there is a spacious master suite addition on the rear of the house sporting vaulted ceiling, bath with garden tub and separate shower, and huge walk-in closet! Enjoy relaxing in the cozy screened-in porch or cookouts on the big back deck. There is plenty of parking behind the house on the 2+car parking pad. Located just blocks from Cloverdale Bottom park and walking distance to dining and entertainment!

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

Whether you are a DIY expert or you plan to hire experts to “fix” your home, buying a fixer-upper is a risk.  But often it is a risk very well worth taking!  It just depends upon finding the RIGHT home to fix up.  Here are steps to take before you make the decision to invest your money, time and energy into fixing up a house:

1. Consider the Price Carefully

A fixer-upper should have a fixer-upper price.That may seem obvious, but you might be surprised by how much sellers think a home is worth.Try not to have a “this is the one!” moment with a house when the listing claims it just needs a little TLC. Do your research first. An experienced Realtor like Sandra Nickel can help you find out what similar homes in the neighborhood have sold for.  You are also going to want to be aware of what types of homes they are so that you don’t over invest in luxury improvements that price your house right out of the neighborhood for future resale. When determining your budget, base it on the market value of the homes in the neighborhood.

2. Determine What Improvements Are Needed

How much work do you want to do? How much do you want to spend?Ideally a fixer-upper will offer many opportunities for “instant equity”, meaning that you would make money on the home if you immediately sold it after fixing it up. Some fixer-uppers will just need cosmetic fixes like painting and landscaping.Other may require large renovations.You will need to carefully consider the potential cost of improvements along with the sale price of the home so that you don’t get in over your head.

3. Research Which Projects Will Give You Instant Equity

Will you have to hire a professional to complete the projects?If so, will the cost of that outweigh the money you might get back in instant equity?While many home improvements add some equity, some add a lot more value than others. But they are usually the types of projects that require the help of a professional.Here are some examples of projects that will give you excellent return on investment even if you pay a professional to complete them: new roof, hardwood floors, and insulation. Why a New Roof May Cost You Zero Dollars (In the Long Run)

4. Be Sure You and Your Family Can Cope With the Disruption

A fixer-upper takes time and patience. If you have to move into the home to complete the renovations,you may be living in chaos for a while. Also remember that not all projects go smoothly and there may be set backs and unexpected issues.Can you handle that emotionally?It’s important to consider how the disruptions will affect you and your family before deciding to take on a fixer-upper.

Buying a fixer-upper should never be a spontaneous decision. It needs to be well thought out.  So, do your homework first to determine your budget along with how much you are willing and able to take on before jumping into a fixer-upper.  With the proper preparation, you will end up with a beautiful home that is worth much more than you paid for it!

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! 

Photo Credit: realtor.com

Everyone has different tastes when it comes to home decor, and window dressing is no exception. While most of what we see in magazines and home websites are windows covered in draperies, that may not be what we have in mind for our own home. What are the alternatives? There are plenty of different ways to dress up our windows without forgoing privacy or style.

• Using shutters instead of curtains give you privacy while allowing light to come through when you have adjustable louvers on the shutters. Most are made of wood and can be painted or stained to match your room’s decor or make a statement.
• A pelmet or cornice covered in fabric and paired with plain sheer panels is a simple way to draw the eye up, and make the room appear larger.
• Shades are simple and are mostly used for light control and privacy. Shades come in three main styles:  rolling, cellular, and Roman.
  • Rolling shades are much improved from the days of the plain white; they come in decorative fabrics and colors to coordinate with the room decor.
  • Cellular shades are great for insulating the windows the cover, and softly filter the light coming in.
  • Roman shades can be made of fabric or natural materials, such as bamboo for a casual look.
• Covering a window with a piece of art is nothing new:  vintage stained-glass windows can be found in flea markets and tag sales. If you’re feeling crafty, make your own “stained glass” with paints, and hang the piece over your window.
• For a simpler craft, use the “stained glass” paint in clear to make the window look like wavy antique glass.
• A sunny window is a perfect place for plants, so use them as your window treatment! Purchase shelving and install, or make shelves for your green thumb display.
• Laser-cut metal panels can be installed over windows, and are becoming increasingly popular. Pattern choices are seemingly endless and can be easily purchased at online home decor sites.

Gone are the days when everyone’s home interiors were almost cookie-cutter identical, and good riddance! Our homes should reflect our unique style, and windows are no exception.  Whatever you choose for a window treatment, you will not have a problem finding the right product for you, your family, and your 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! 

Photo credit: DIY Plantation Shutters

If you’ve ever had to call a plumber to come out to your house to fix a clogged sink or jammed garbage disposal, you already know how expensive that visit can be. Now you have the added concern of having someone come into your home while maintaining social distancing. Here are some tips for things you can do to take care of your kitchen sink so that you won’t have to call a plumber to fix it for you:

1. Do not pour grease, oil or fat into your garbage disposal or drain. Grease will slowly accumulate and impede your garbage disposal’s grinding ability as well as clog drains.
    
2. Do not use hot water when grinding food waste. Hot water will cause grease to liquefy and accumulate, causing drains to clog.
    
3. Don’t grind extremely fibrous materials like corn husks, celery stalks, onions, and artichokes. Fibers from these can tangle and jam the garbage disposal motor and block drains.
    
4. Don’t turn off the motor or water until grinding is completed. When grinding is complete, turn off the garbage disposal first. Let water continue to run for at least 15 seconds, flushing out any remaining particles. Then turn off water.
    
5. Don’t put too many potato peels down the garbage disposal. The starches in the potatoes will turn into a thick paste and may cause blades to stick.
    
6. Don’t put large amounts of food down the garbage disposal. Feed food into the garbage disposal a little at a time with the cold water running; this will help the food scraps flow down freely through the drain pipes and plumbing.
    
7. Don’t put expandable foods into your garbage disposal. Foods like pasta and rice expand when you add water in a pot; they do the same thing once inside your pipes or garbage disposal and are the cause of many jams and clogs.
    
8. Don’t grind large animal bones of any kind.
    
9. Don’t put coffee grounds down the garbage disposal. They won’t harm the disposal but they can accumulate in drains and pipes, causing clogs.
    
10. Most importantly: Don’t use harsh chemicals like bleach or drain cleaners to unclog the drain. They damage blades and pipes.

Follow these tips to take care of your sink and garbage disposal and save yourself from that expensive plumber’s bill!!

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!

Photo Credit: thespruce.com

Montgomery AL Home For Sale:

1934 Ridge Ave, Montgomery AL 36106

3 Bedrooms | 2.5 Baths | 3,351 Square Feet | Old Cloverdale

Welcome to this fabulous Old Cloverdale beauty! This amazing property has been meticulously maintained inside and out. Tucked away behind lush landscaping, you will find your own private get away starting with the welcoming front porch all the way to the gorgeous back yard with covered deck and sparkling pool! This lovely home is made for entertaining family and friends with a large formal living room with a beautiful fireplace, formal dining room with another fireplace, updated kitchen with island and breakfast nook and a sun room overlooking the private back yard and covered porch. The large master suite has a fireplace, a wonderfully updated bath and gigantic walk-in closet. The hall bath has been recently updated as well. To top it off, there is a quaint guest house with a bath for company, or man cave. This property is stunning and in an ideal Midtown Montgomery location to walk to restaurants and shopping. Come see for yourself today and then, welcome home!

Click here for the Virtual Tour.

Marketed by Montgomery AL Realtor Lauren Layfield, Sandra Nickel Hat Team. 

Go to HomesForSaleInMontgomeryAlabama.com and click on "About".

Millennials (or Generation Y) have emerged as a preeminent force in the housing market.  Per the National Association of Realtors’, “older millennials, buyers aged 30 to 39 years, made up the largest share of home buyers by generation at 25 percent of all home buyers in 2019.” In fact, this group, born between 1980 and 1989 comprised the largest share of buyers for the seventh consecutive year. Older Millennials: Forming Families, Establishing Homes

That being said, when selling your home, it would be wise to think about the wants and needs of millennials as potential buyers.  Here are 10 must-haves for selling a home to millennials:

1. Updated kitchens and baths – Millennial homebuyers seek out updated kitchens and baths because they are on a budget.  Most of their money will go toward down payments and furnishings, and kitchens and baths are the most expensive spaces to update, so millennials will want a home that requires little to no work in these rooms.  As a seller, you want to find ways to update your bathrooms and kitchen as inexpensively as possible. While these updated rooms will attract younger buyers, you want to avoid losing the money that you put into them.
    
2. Big kitchen, open floor plan – There was a time when a formal dining room was on every buyer’s wish list. But this generation of buyers would rather eat and hang out in the kitchen, along with the family room. And because of how this generation of homeowners entertain, they prefer an open floor plan for easier flow throughout the house.
    
3. Home office – per recent US Census data, over 13 million Americans are working from home and it is a trend that is expected to continue.  Even if a room is currently staged as a bedroom, a real estate agent can point it out as a potential office space.  And it’s not just for those who work full-time from home. With ever growing technology making us increasingly mobile, a home office is a dedicated space for making phone calls, skyping or face-timing clients or even just paying bills.
    
4. Good location -  Millennial buyers seek out locations with easy access to public transportation and a good walk score. Montgomery Alabama Walk Score
    
5. Low maintenance – young buyers want low maintenance homes.  Things like wood floors and granite countertops appeal to them because they are both attractive and easy to take care of.  They also like smaller yards. They want to spend their weekends doing activities that don’t include mowing the lawn or doing housework.
    
6. Technology – internet and cell phone service matter a lot to this generation.  Many millennials don’t even use a landline.  You may not be able to control the strength of cell service at your home, but you can be sure that young buyers will be asking about it.
7. Energy efficiency – With a growing interest in protecting the environment, younger buyers look to buy homes that are green.  While energy efficiency is not the top reason to purchase a house, it can certainly be an advantage when dealing with millennial buyers. 8 Simple Ways to Turn Your Home From Toxic to Green
    
8. The reality TV effect – Real estate reality shows on channels such as TLC and HGTV have had an impact on how buyers view homes.   Staging has become a crucial part of the selling process. It is not unusual to hear a younger buyer speak about a room being staged or not staged.
    
9. Low HOA costs – when considering a property, younger buyers sometimes find that while the price is within their budget, homeowners association fees or condo fees make it unaffordable.  They seek homes in neighborhoods with low, or preferably, NO monthly assessments.
    
10. Online photos – Technology strikes again!  If you are serious about attracting young buyers, you need to consider how your home shows online. Millennials start their home searches online and if the photos don’t look good, they will likely scroll on by without ever stepping foot in the house. How to Take the Best Photos to Sell Your 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!

Photo Credit: wsj.com

Montgomery AL Real Estate: 1855 Gillespie Dr, Montgomery AL 36106

MLS# 471170

3 Bedrooms | 2 Baths| 1680 Square Feet | Hill Hedge

Click here for Virtual Tour.

This 50's style ranch is a great purchase for those wanting to live in the Midtown Montgomery area. A landscaped front and back yard with plenty of green space allows for all types of outdoor activities, from kids playing in the sprinkler to the lawn enthusiast. The back porch is a captivating space that allows the outdoors to be enjoyed in any weather with the roof covering. This 3 bedroom and 2 bath home is the perfect size for a variety of buyers with coveted wooden floors in all the bedrooms and new 1 year old double oven installed in the kitchen. The outdoor shed off the back porch can be used as a shed, man cave or even storage and is great additional space! Conveniently located off Carter Hill Rd, less than a 5 minute drive to either Zelda Rd, Cloverdale area or the interstate.

Marketed by Montgomery AL Realtor Brennan Parker, Sandra Nickel Hat Team!

Go to HomesForSaleInMontgomeryAlabama.com. Click on “About”.