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Displaying blog entries 951-960 of 1998

Montgomery AL Home For Sale: 3258 Southmont Dr

Tuesday, September 15, 2015
by The Hat Team

Montgomery AL Home For Sale:

3258 Southmont Dr, Montgomery AL 36105
MLS# 320880

Absolutely Adorable Make-Over!

3258 southont dr

Absolutely adorable South Hull District home has had a complete makeover and is ready for a new owner. For cooking and entertaining, you will love the newly installed "Dutch-inspired" kitchen with plenty of space for guests. Relax in the cozy sunroom/bonus room off the breakfast nook, or on the cool screened front porch. Dining room has great architectural details such as French doors and built-in corner china cabinets. And, check out the retro-cool built-ins in the living room, perfect for displaying books or collectibles. And, you won’t have to fuss with details like NEW appliances, NEW central heating and air, NEW windows (energy efficient!) and added attic insulation. Great landscaping out back with beds and gardens all contained in fence, great for pets! Above ground pool can remain for your enjoyment, or sellers will remove.

Marketed by Montgomery AL Realtors Sandra Nickel Hat Team!

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Montgomery AL Real Estate For Sale: 8452 Water Oak Ct

Tuesday, September 15, 2015
by The Hat Team

Montgomery AL Real Estate For Sale:

8452 Water Oak Ct, Montgomery AL 36117
MLS# 320882

Pristine Patio Home In Great Location!

8452 water oak ct
Pristine patio home in a great location! Absolutely move-in ready, with split floor plan, trey ceiling in living room and updated hall bath. Walk-in closets in each bedroom, like new carpet and tiled kitchen floor. Nice backyard with privacy fence. Close to shopping, restaurants, AUM and I-85. Check it out today!

Marketed by Montgomery AL Realtors Sandra Nickel Hat Team!

 

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Montgomery AL Real Estate For Sale: 1875 Gillespie Drive

Friday, September 11, 2015
by The Hat Team

Montgomery AL Real Estate For Sale:

1875 Gillespie Drive, Montgomery AL 36106
MLS# 320805

You Will Not Believe This Midtown Home!

You will not believe the space in this 4 bedroom, 2 bath home in Midtown! Priced to SELL, this move-in ready home boasts two spacious living areas, a large corner lot, and attached carport for convenience. Hardwood floors throughout most of the house means no carpet and no allergies! If you are a pet lover, there is already an invisible fence for the front and back yards. Convenient to shopping and dining, I-85, and downtown. Call your favorite agent and make an appointment to see this one before it gets away!

1875 gillespie dr

Virtual Tour

Marketed by Montgomery AL Realtors Sandra Nickel Hat Team!

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How to Help Your Child with Their First Home Purchase

Thursday, September 10, 2015
by The Hat Team

If you have an adult child that has just graduated from college you may want to know how you can help them afford to purchase their very first home.  Hopefully your child already has a job lined up so that they can afford to pay for their new home once you have helped them to achieve the goal of home ownership, if not you may want to postpone this plan until they do. 

home buyer

  • Many kids just out of college have a huge student debt that has accumulated over the last four years but that doesn’t have to stop them from owning their own home.  Parents can help their children be able to purchase their own home and to come up with the down payment by gifting the down payment to them.   Make sure that you do not loan them the money because that can work against them in the long run, rather give them the down payment as a gift.  This type of gift is much better than any house warming gift you could ever give them and it’s the gift that will keep on giving.  You will need to write a “gift letter” so that the lender realizes that the money is in fact a gift and not a loan.
     
  • If you simply cannot afford to gift the money for the down payment to your child then you can give them a loan but the lender will have guidelines that you must follow.  The lender will consider the loan a second mortgage on the house and you may also be prepared to have interest in the loan as well.  The interest rate will most likely be the current market rate. 
     
  • You can apply for a mortgage jointly with your child if you want to help out in that way.  You will be considered a non-occupant co-borrower.  If however your child fails to pay the mortgage, guess who will be responsible for it?  Yes, you.  This type of help towards a home purchase should only be done as a last resort.
     
  • You may want to choose to let your recent graduate move back home with you until he or she can afford to take on a home mortgage without having to have help from you.  By letting them move back in you are allowing them to be able to save money towards a home purchase and that in itself is a huge help in the right direction. 

Hopefully this gives you a few ideas on how to help your child afford to purchase a home of their own.

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Montgomery AL Home For Sale: 9143 Carters Grove Way

Wednesday, September 9, 2015
by The Hat Team

Montgomery AL Home For Sale:

9143 Carters Grove Way, Montgomery AL 36116
MLS# 320751

Not-To-Miss Home!



Welcome home to this spacious Sturbridge property with open floor plan on a quiet cul-de-sac street! With fresh paint, new carpet in most areas, and new stove and dishwasher in kitchen, all you need to do is move in. Enjoy relaxing on your private covered back patio, or walk to the pool for a refreshing swim. Also included is use of the tennis courts and fitness center, and access to the clubhouse for parties and large gatherings. 2 car attached garage and in-ground sprinkler system add to the amenities of this not-to-miss offering in beautiful Sturbridge Plantation.

Marketed by Montgomery AL Realtors Sandra Nickel Hat Team.

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Buying Is 38% Cheaper Than Renting

Thursday, September 3, 2015
by The Hat Team

That statement reflects Trulia’s Rent vs. Buy Report. “Although the gap between renting and buying is narrowing across the U.S., homeownership is still 38% cheaper than renting.”

rent vs buy

When evaluating buying a home vs. renting you need to understand the local math. Although the national average is 38% cheaper for buying vs. renting, the range across the country is from 5% cheaper to 66% cheaper.

The Trulia report concludes that there is nowhere in the US that buying a home is not cheaper than renting. However, the percentage of difference does vary widely. That is because there are variables that depend on local circumstances such as:

  • Local home values
  • Local rents
  • Mortgage interest rates
  • Rates of value appreciation

If you really want to understand the detailed numbers go to the full report.

You can also go to Trulia’s Rent vs. Buy Calculator that allows you to plug in your local variables.

Borrower’s credit score is another factor you need to take into account when evaluating your situation. Mortgage interest rates are perhaps the most important variable in the buy vs. rent calculation. One of the factors that affects interest rates the most is the borrower’s credit score. The lower your credit score the higher the interest rate you will pay.

The monthly payment on a $200,000 loan for 30 years increases by $60.27 for every 0.5% added to the interest rate. That means the decision about whether to borrower using a variable interest rate (such as an ARM) or a fixed interest rate over the life of the loan is very important.

The Trulia report also evaluates the “tipping point” for interest rates that will cause renting to be cheaper than buying. For the national average that leads to the 38% figure the mortgage interest rate would have to rise to over 10%. However, you should look at local factors involved for a home using the Rent vs. Buy Calculator.

You can follow this link for the current Forbes.com interest rate forecast. You can also find current mortgage interest rates at bankrate.com.

Current indicators are that both home prices and interest rates are going to rise steadily over the next five years. That is good news for potential buyers, and means now is a good time to buy. However, if you’re hoping to become a homeowner anytime soon use these tools to do some research.

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Checking for Water Leaks

Wednesday, September 2, 2015
by The Hat Team

An unexpected, larger-than-normal water bill could lead a person to think that they might have a leak. Before incurring the cost of a plumber, it is fairly easy to run your own test.

water meter-250.jpg

Locate your water meter. They’re usually in the front of the house, near the street. In some cases, you might need a meter key to open it; they can be purchased at Lowe’s, Home Depot or other hardware stores.

Step One - Write down the numbers on the meters to get a current reading. Don’t use any water for thirty minutes. If the meter shows water usage during the test period, proceed to step two.

Step Two - Shut off the valves to all of the toilets. If you have a pool with an automatic filler, it has a similar device. Repeat the test again for the same thirty minute period. If the numbers haven’t changed this time, it indicates that the toilets probably need servicing.

If the numbers have changed during step two, it is an indication there may be a leak and it will need to be tracked down. This could be the time to call a plumber or plumbing leak specialist. Your water department may have a consumer help line that can offer suggestions also.

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

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Midtown Montgomery Home For Sale: 312 E Fairview Ave

Monday, August 31, 2015
by The Hat Team

Midtown Montgomery Home For Sale:

312 E Fairview Ave, Montgomery AL 36105
MLS# 320633

Updated and Move-in Ready!

312 e fairview ave

Looking for a lovely updated home in Midtown Montgomery near Cloverdale? This house has a lot to offer and is move-in ready! Beautiful open kitchen with granite and stainless appliances, two bedrooms down and two up, renovated bathrooms, one with a claw foot tub and the other with a walk-in shower. Hardwood floors throughout, a nice sun room and good sized living room and all new windows. Check it out today!

Marketed by Montgomery AL Realtors Sandra Nickel Hat Team!

 

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Midtown Montgomery Real Estate Market Trends - July 2015

Friday, August 28, 2015
by The Hat Team

Yes, it’s August but don’t let global warming trends ruin your weekend house hunting plans! Simply follow these 4 tips on how to survive the sweltering heat outside while making your appointed house-hunting rounds.

midtown montgomery real estae

1. Schedule your viewings when it’s relatively cool. Plan your house hunting for the morning starting around 9:00 a.m. so it can be done by 1 p.m. when temps can become unbearable.

2. Map out homes that are close to one another. Have a very clear plan of which homes you will visit within a certain area so you can quickly and efficiently go down the list and avoid your car overheating.

3. Carry a fan. Carry a small hand held fan and bottled water for a quick pick me up.

4. Laugh it off. Keep things light and remember winter weather is on its way. 

Take a look at July's 2015's real estate sales statistics.

July 2015 Midtown Montgomery Real Estate Market Update

Midtown Montgomery real estate sales statistics for July 2015, show the number of homes decreased 27.5%. The average sales price decreased by 14.17% to $144,136 for the month. The median sales price decreased by 12.24% to $107,501, and market times decreased by 79 days.  The highest selling price decreased by 21.02% from July 2014.

Midtown Montgomery  July 2015   July 2014
Homes Sold 29 40
Average Selling Price $144,136 $167,931
Median Selling Price $107,501 $122,500
Days On The Market 130 209
Highest Selling Price $620,000 $785,000
Lowest Selling Price $5,100 $3,400


For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

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What Every Homebuyer Should Know About FHA Loans

Saturday, August 22, 2015
by The Hat Team

The Federal Housing Administration (FHA) is a government agency within the U.S. Department of Housing and Urban Development (HUD). FHA is not a lender. It provides an insurance fund that protects lenders against borrower loan defaults. Therefore, to obtain an FHA loan, a homebuyer must get their loan through an FHA-approved lender. The actual loan and mortgage for your home is actually with a commercial lender.

home buyerNot all FHA-approved lenders offer the same interest rates and costs, even for the same loan. Therefore, borrowers need to shop around with multiple lenders for the best total package for an FHA loan.

Here’s some good news…

  • Perfect credit is not a requirement of FHA. The FHA does not dictate a minimum credit score. However, lenders can overlay their own requirements on top of what FHA requires. FHA provides leeway in underwriting for the lender by insuring the loan, but the final decision about the loan is in the lenders hands.

    The lenders’ underwriting of a loan is targeted at ensuring that the homebuyer “has the willingness and capability to repay the loan, but we do have flexibility beyond pure credit score to look at the borrower’s financial situation,” according to Vicki Bott, HUD deputy assistant secretary.
     
  • The minimum down payment is 3.5% of the purchase price of the home. Borrowers can use their own savings for the down payment. But, they can also use other sources such as a gift from a family member.
  • Closing costs may also be covered. FHA allows home sellers, builders, and lenders to pay some of the borrower’s closing costs. However, lenders often charge a higher interest rate if they agree to pay closing costs.

Here are some cautions…

  • Homebuyers should get a Good Faith Estimate (GFE) of closing costs from the lender when shopping for their loan.
  • Mortgage Insurance is a must. Two premiums are required on all FHA loans: first, an upfront premium of 2.25%, charged when the homebuyer gets the loan (but may be financed in the loan); and second, an annual premium of 0.55% paid monthly with the mortgage payment.

Many homebuyers feel this all sounds expensive. However, the alternative is potentially not qualifying for a loan at all. The borrower must compare total costs of the purchase with the equity that potentially is possible in the long haul…along with careful shopping for the loan. Click here for more details.

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

 

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Displaying blog entries 951-960 of 1998

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