About Montgomery County, AL

We are proud to announce Sandra Nickel Hat Team REALTORS, Montgomery real estate specialists, have developed a marketing strategy and website that is focused on assisting distressed homeowners find information and investigate options to avoid the foreclosure process.

A short sale is a real estate transaction option that banks will consider instead of foreclosure with specific guidelines. As a Certified Distressed Property Expert (CDPE) we are determined to provide essential knowledge to homeowners in Montgomery facing this unfortunate circumstance.

Visitors to AvoidForeclosureMontgomeryAL.com will find information regarding the process of foreclosure, what effects foreclosure has on a homeowner, and ways to prevent the foreclosure process from continuing. The website features easy-to-understand informational tools such as a list of frequently asked questions, a glossary of terms and free reports as well as resources that allow the homeowner to get their questions addressed in a confidential manner. In addition, the website offers the homeowner information regarding short sales, often a viable solution to foreclosure that can save a distressed homeowner from the damaging effects foreclosure has on their credit.

It is important in today's economic conditions for homeowners to know that they have options other than the foreclosure route. Statistics show that 50% of homeowners facing this stressful situation often ignore the issue and that doesn't have to be. There are options such as a short sale, especially if the homeowner works with an experienced REALTOR® to provide them assistance in showing the lender the hardship situation and other real estate documentation."

Our new website provides visitors with a description of how the short sale process works, how it compares to a foreclosure, and how a homeowner may be able to qualify for a short sale.

For more information about foreclosures and short sales in Montgomery, please feel free to visit the website at AvoidForeclosureMontgomeryAL.com, or to contact us directly at 334-834-1500 and by emailing Info@AvoidForeclosureMontgomeryAL.com.

For several month now, there have been many commercials, radio spots and magazine ads telling consumers that now is the time to purchase a home. We, as Realtors, tried to make everyone aware of the $8,000 tax credit and the original deadline of November 30, 2009. Then we got the news that the tax credit would be extended and even expanded to offer move-up buyers a credit of $6,500 as well. Now with the second deadline fast approaching, we are trying to get potential buyers to see that time truly is of the essence.

We've had yet another change to the FHA guidelines that will seriouly impact many potential buyers. Last year, for example, in the Montgomery, AL metro area the average home sale was around $140,000 according to the Alabama Cent er for Real Estate located in Tuscaloosa at The University of Alabama. This leads me to believe that 90% or more of those buyers were financed with an FHA loan. With the new guidelines, lenders will be required to collect a mortgage insurance premium (MIP) of 2.25% instead of the previous 1.75% at closing. In real numbers, that means that $140,000 home that used to have an MIP of around $2,500 will now have an MIP of about $3,150. A significant increase even if it can be financed into the final loan amount. This change is scheduled to take effect on April 5, 2010, almost one month before the tax credit expires.

The other big change will the amount of concessions the seller is allowed to pay. Now, sellers will only be able to contribute 3% back to the buyer to used toward closing costs. This is cut in half from the 6% that so many buyers wanted and needed previously. This means more buyers will have to bring more money to the closing table. Up until now, our market in Montgomery, AL and the River Region has been stable. I wonder if this will throw us into the turmoil we've seen and heard about in so many other markets. I've done my best to educate those that I've come in contact with so they can prepare themselves. Especially with the talk of requiring buyers with credit scores below 600 to put up to 10% down on a home.

As we begin this journey into a change, change and more change, we can be certain of one thing. Now is the time to buy!

Low listing prices, reasonable interest rates, and an abundant variety of homes to choose from are among a few of the reasons now is the perfect time for buyers to make a move in today's real estate market. Current market trends and other factors have made conditions even more favorable for first-time homebuyers. Though becoming a homeowner comes with huge responsibilities and financial commitments, first-time home buyers should take advantage of the market over flowing with opportunities. The following tips will help ease the mind when considering the smart purchase of your first Montgomery home.

1. Become familiar with the new first-time homebuyer federal tax credit.

People who are considering the purchase of their first home, or have not been home owners for at least the past three years can gain great benefits from the first-time homebuyer tax credit. According to FederalHousingTaxCredit.com, qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before May 1, 2010 will receive a tax credit of up to $8,000. Unlike past tax credits from 2008, the money received does not have to be repaid, unless the homebuyer sells the property with in three years.

2. Determine what is reasonably affordable.

Prior to beginning the hunt for the perfect home, it is important to find an affordable price range. Many factors such as money available for a down payment, eligibility for a loan, and monthly mortgage payments, all play a role in determining what the buyer can comfortably afford. Total monthly mortgage payments should be, on average, approximately 30 percent of one's gross monthly income. Affordability or loan calculators found on the internet can give a good idea of what is affordable. Before seriously inquiring the purchase of your first Montgomery home it is important to have a consultation with a knowledgeable financial advisor.

3. Deciding where and what

Once an affordable price range is determined, it is time to decide where you want to live and what you are looking for in a home. Whether staying with in the same general area, or looking for a new location, it is crucial to do a fair amount of research on the area and its demographics. For example crime rates, school districts, shopping, medical facilities, and travel, are all important factors have to be considered since they could affect your everyday life. It is also essential to know what you are looking for in a home. Separate lists of essential needs and wants should be carefully thought out towards the beginning of the home search. The list of basic needs should include things such as minimum square footage, number of bedrooms and bathrooms, location, and price. The want list should be compiled of things that would be nice to have, such as pools, big yards, and gated communities.

4. Find a knowledgeable Real Estate professional

Finding and purchasing a home is a complicated, overwhelming experience, which should be nothing but exciting. Working with an experienced real estate agent can make the process run smoothly and be more successful. The chances of finding the perfect Montgomery home are significantly increased when put in to the hands of the right real estate professional.

Learn more about how we can help you purchase a Montgomery home by visiting HatTeam.com or give us a call for more personal service.

Search all Montgomery homes for sale.

Baby, it's cold outside! January has started out to be among the coldest on record. Below are tips for keeping warm and saving energy recommended by the U.S. Department of Energy's Energy Savers Consumer Tips Web site and their Energy Savers booklet PDF.

Use Furnaces and Heaters Wisely

• Set your thermostat as low as it is comfortable. Each degree you lower your thermostat can cut your heating costs between one and three percent. A common strategy is to lower thermostat settings to 68 degrees. The lower you set it, the more you'll save.
• Turn your thermostat down 10 to 15 degrees during your sleeping hours or while you're away, to save even more on your heating bill.
• Use a programmable thermostat with your furnace to adjust the setting while you sleep or no one is home.
• Clean or replace filters on furnaces once a month, or as needed.
• Clean warm-air registers, baseboard heaters, and radiators as needed; make sure they're not blocked by furniture, carpeting, or drapes.
• Place heat-resistant radiator reflectors between exterior walls and the radiators.
• Bleed trapped air from hot-water radiators once or twice a season. If in doubt about how to perform this task, call a professional.

Weatherize - air leaks waste energy dollars year-round

• Caulking and weatherstripping keeps warm air in during the winter.
• Add insulation around heat ducts when they are located in unconditioned spaces such as attics, crawl spaces, and garages.
• If you see holes or separated joints in your ducts, hire a professional to repair them.
• Check to see that your fireplace damper is tightly closed, when it is not in use.
• During the heating season, keep draperies and shades on south-facing windows open during the day to allow sunlight to enter your home, and close them at night to reduce the chill from cold windows.

For Long Term Savings:

• If your furnace is old, the new energy efficient models can help you save on heating bills. Your contractor should be able to give you energy fact sheets for different types, models,
  and designs to help you compare energy usage. Look for the ENERGY STAR®.
• Adding insulation and sealing air leaks help your energy performance in the wintertime by keeping the warm air inside.

Everyday Tips to To Save Energy
These no-cost or low-cost tips are easy ways to save energy and money all year round.

• Replace incandescent bulbs with compact fluorescent lights.
• Air-dry dishes instead of using your dishwasher's drying cycle.
• Use a microwave oven instead of a conventional electric range or oven.
• Turn off your computer and monitor when not in use.
• Plug home electronics, such as TVs and VCRs, into power strips and turn power strips off when equipment is not in use.
• Lower the thermostat on your hot water heater; 115° is comfortable for most uses.
• Wash only full loads of dishes and clothes.

Many of these same tips are also applicable to savings on summer cooling costs

When you put your home on the market, you only get one chance to make a good first impression. Before you have your agent put that sign in the yard, you might want to take an honest look at your home. This must include every aspect of your home, from the exterior to the interior. Ask a good friend that will speak openly to help you. If you need to declutter, start as soon as you can so that you will be able to capture your prospective buyers' attention when they walk through the door.

First, you will need to walk across the street and look at your home the way a potential buyer will see it. With today's technology, the first time people see your home could be on the internet. When you imagine a camera angle, is there anything that stands out? Do your shutters need paint? Is your landscaping neatly done? If your entrance needs to be spruced up, add some colorful annuals in bright pots or planters. Perk up your beds with some fresh mulch or pine straw. Clean the gutters and make sure all of them are in good working order. If necessary, clean your windows so that they sparkle from the outside and let in maximum light on the inside. Check your back yard for any holes or potential dangers that might injure someone as they walk through. Remember, buyers will want to see all of your home when they are looking.

Once your work is done outside, step inside and take an inventory of every room. Remove any unused items from each room and if you like have a yard sale! It will also be a good time to let your neighbors know you'll be moving. Pack up anything you're not using on a daily basis and be sure to label the boxes so that when you do move, unpacking will go much smoother. Dust, wipe down and polish every surface in your home and then move on to the floors. Clean your grout, carpets and rugs so they look spotless. Use a non-stipping floor cleaner on your wood floors to make them shine. When your done, all these small chores will help you enjoy the last memories in your home before you hand the keys off to the next residents!