What Does Toni Have To Say?

Try an Island Before you Buy.

The other day, a client and I were looking at Homes for Sale in Hoover Alabama.  She was very interested in having a kitchen with a LOT of counter space.  Because I like to prepare meals with lots of ingredients, I want lots of space in MY Hoover, Alabama kitchen, so I could totally understand where she was coming from.

We saw some kitchens that had islands in them.  Some islands were attached to the floor and others were on legs. Some had tops that matched the other counter tops and others had tops made with a contrasting material. Most of the islands competmented the kitchen, but some made the kitchen seem too small...

Ever thought about adding an island to your kitchen?  This may seem like a really good idea, but is your kitchen big enough?  An island can limit the number of people working in the kitchen, can limit the traffic flow (only one person can get by at a time) and make for really cramped quarters.

It is a good idea to try out an island before purchasing one.  You can make a full scale model out of cardboard or plywood and leave it up for a couple of weeks before you decide to buy.  Try out all the appliances and make sure the doors open and close and that you don't hurt yourself trying to get hot things out of the oven.

You can have your sink, dishwasher or stove in the island, but make sure you research the plumbing and electrical lines beforehand. Here in Hoover Alabama many homes for sale have basements. If you are over an unfinished basement it's not too hard, but other foundations can make it a lot more costly - nothing is ever impossible, everything has a price.

If you don't have space for an island, you may want to look at buying an Island Trolley that is rolled into place when you need it.  They are great for extra cutting space and storage.

If you just have to have more space in the kitchen, you may need a different house.  I can help you find a new home with great counter space.  Take a look at homes for sale in Hoover Alabama and the Greater Birmingham area on my website at www.ToniBird.com.  Call me when you are ready for a personal tour.

When getting your home ready to sell in Hoover Alabama, you want it to look warm and inviting.  Just like curb appeal on the outside - you want your home to appeal to the buyer on an emotional level on the inside.  Now I'm not talking about putting out tons of stuff so the house looks cluttered, and putting every family photo you own on the walls, but all blank walls make a house look sterile. 

 Mirrors can make a room look bigger.  It's important to pay attention to what people see when they look in the mirror.  If your mirror is reflecting a bathroom or messy kitchen, perhaps you should rethink that placement.  The size of the mirror needs to be appropriate for the wall.

 Do you have a blank wall that you just don't know what to do with?  Paintings and mirrors are great but sometimes you just need something different.  I like to see some things with texture.

  Iron work is very popular these days.  Iron pieces come in all shapes and sizes and there are several shops in Hoover Alabama that sell very attractive pieces.  I've seen some that resemble gates, some that hold candles or flowers and the list goes on.  We received a cross as a wedding present and it hangs in the foyer just inside the front door.

 Trivets come in all shapes and sizes and make great wall decorations - especially in the kitchen.  So take a look at those trivets that you may have stashed away in the drawer.

 Add a Shelf to the wall and display different items such as pitchers, flower pots, even trophies and or model cars (especially great for a kid's room).  Shelves offer the opportunity for seasonal variety because it is easy to leave the shelf alone and change out the items you have on display.

 Plates make great decorations and can add new color to a room.  Do you have some old plates that grandma had years ago?  Or perhaps you have a colorful platter that caught your eye and it is just too pretty to sit in the cabinet. Some "craftman style" homes have a plate shelf about eye level in the Dining Room and are a great place to display plates.  Plate hangers are pretty easy to find.  Liven up that dead space in the Kitchen between the top of the cabinet and the ceiling.  Old fashioned side boards and baker's racks are prefect for displaying plates but also those built-in bookshelves in the den.  Click here for some new ideas on displaying plates.

 You'd be surprised how may things you have around the house that can make decorations (and for very little money).

 If you'd like to talk to someone about selling your home, give me a call.  I'll be happy to give you some pointers on getting your house ready for sale.  You can reach me at 205-821-3312

Interest Rates are really low right now, and we've been talking about 30 and 15 year Fixed Rate Loans. If you look at the different loan programs that lenders are offering, you will also hear about Adjustable Rate Loans.  Adjustable Rate Loans typically have a lower rate than the fixed rate initially and can look really attractive (and can help you afford a more expensive house).  Sounds like a great deal, but you need to really look at the total picture before getting into an adjustabel rate loan.

The FIXED RATE LOAN is based on what the current rate is and your loan repayment amount is set at the same amount for the life of the loan (most commonly 15 year or 30 year repayment).  The payment includes an amount that pays down the principal (the amount you borrowed) and the interest that accrued on that principal balance. The more payments you make, the less you owe on the loan so each month the amount you apply to principal increases and the amount you pay in interest decreases. But the PAYMENT remains the same. Usually added to your monthly payment is an amount for taxes and insurance which can go up each year based on whether the tax assessor or the insurance company raises the amount due to them, but your monthly payment amount remains the same. 

With an ADJUSTABLE RATE LOAN, the payments can adjust or change over the life of the loan.  There are two components, first the frequency (how often it changes) and 2nd, the amount of change.   Typically, the rate will change on a yearly basis (a One Year ARM will change every year).  Some loans have a set rate for the first few years - perhaps fixed for 5 years then it will adjust every year after that. So, if you started out with an interest rate of 5.5% and your loan is a 5/1 ARM, it will be fixed for 5 years at the 5.5% rate and then on the 5th year anniversary of your 1st payment, your payment will change and continue to change every year after that.

What will it change to?  That depends to what "index" your loan is tied to.  What is an index?  There are several different types of money rates in the open market.  These rates change every day. Their numbers are published and they are pretty easy to track. Some commonly tied to mortgages are the T-Bill, the FNMA Security Rate, the 7th District Cost of Finds. Once you know your index you also need to know your margin.  The margin is the amount OVER the index you will pay.  So, if your margin is 2%, then your new payment rate will be the index rate plus 2%.  So, if today the 7^th District Cost of Funds rate is 6%, your new rate will be 8%.  If you started out at 5.5% and then it's time for your rate to change and it goes to 8% - Wow that is a huge adjustment in your payment.  Say you had a 100,000 loan at 5.5%, your loan payment (not taxes and insurance) would be about $568. At 8% the amount would be $734.  That would be an increase of $168 per month.  Not to mention the fact that taxes and insurance go up on a regular basis.

In the news we've heard that people's payments have been going up on their adjustable rate mortgages - this has contributed to people losing their homes to foreclosure.  Adjustable rate mortgages are nothing new.  In fact the same thing happened back in the 80's when rates went up and people couldn't afford their payments.

Many people rationalize that they KNOW their salary will go up later so they'll be able to afford it.  That is not always the case and you might want to buy a new car or furniture.  The safest way to go is with a fixed rate - even if it is a little higher to begin with.

If you would like any additional information about Buying a Home in Hoover, AL, I'd be happy to help you.  Contact me at www.ToniBird.com.

I woke up this morning and heard an incredible amount of chatter in the back yard.  There was so much noise I had to look.  There, on top of the shed were two cardinals and one was feeding the other.  They were both good sized birds, but on closer examination, one was a baby - just a little smaller that its mother.   Female Cardinals make a lot of noise anyway, but this one was teaching her baby how to fly and they were talking back and forth.  The baby could fly from the shed to the fence and back, but was really struggling.  After a couple of "laps" they landed on the feeder for a treat.

 Later in the day I looked out and saw a juvenile male cardinal.  He was red like a cardinal, but didn't have the tuft on top of his head.  He had a little wisp, like a cowlick that wouldn't lie down.  I tried desperately to get his picture, but he was too far away for a good shot.

We are all so busy these days, but it is nice to stop and watch the birds and other creatures in the backyard.  This was such a treat and made me smile for the whole day.

Making a bird friendly yard here in Hoover Alabama is not too hard; you need trees, shrubs, water and food. There are hundreds of birds that visit each week, sometime flocks are migrating and are there for only a day. Bird food is on my regular grocery list and of course I have worked on my backyard over time, but the rewards are great.

A bird friendly backyard can be a great selling point if your house is on the market. If you would like tips to get your house ready to sell here in Hoover Alabama, let me know, I'd be happy to talk to you. Give me a call at 821-3312 or shoot me an e-mail at Toni@ToniBird.com.

I hope you get to see lots of birds in YOUR backyard!

Yesterday the government decided to help out Fannie Mae and Freddie Mac which allowed the financial markets to feel "more secure", thus causing interest rates to go down.  With interest rates going lower, Now is a Great Time to Buy A Home in Hoover Alabama or anywhere for that matter!

Well you may be asking - What does that mean?

When you borrow money for a mortgage, you are getting a loan at the prevailing interest rate.  Let's say the going rate for today is 6%.  The two most common pay back periods are 15 years and 30 years.  The other variable used to figure your mortgage payment is the loan amount (which is the purchase price minus your down payment).

Let's say you found a house that costs $150,000 and you were going to make a 5% downpayment (that is the amount you would pay in cash toward the house). Five percent would be $7500. Subtract $7500 from $150,000 and you get $142,500.  $142,500 is your Loan Amount.

If you were to borrow $142,500 for 30 years at an interest rate of 6%, the payment on your loan would be $854.36 each month.

If interest rates dropped to 5.5%, on a $142,500 loan for 30 years, the payment would be $809.10 each month.

854.36 - 809.10 = $45.26 less in your house payment EACH MONTH.  That's $543 PER YEAR.

What could you DO with that money??  Well, you could use it to buy Christmas presents, or put it in savings for a new car, or it could allow you to qualify for a bigger house.

Since the amount of house you "qualify for" is based on what your monthly payment would be as a portion of your income, than the payment is the beginning point to determine the price of house you can afford.

Let's say you make $17.60 per hour which equals $36,615 per year. Let's also assume for this example that you have no debt because that is an additional step and we want to keep this simple.  Take your yearly salary and convert it to a monthly number (36,615/12=3051 per month). Next Multiply the monthly income number by 28% (3051 X .28 = 854.35). This is the amount of mortgage payment the lender will say you "qualify for".

In our example above, we saw that a $142,500 loan at 6% for 30 years came out to $854.36, so we can say that a person making $36,615 per year can qualify to buy a $150,000 house when the rate is 6%.  When we do the calculations based on 5.5%, we see that $854.35 per month at 5.5% for 30 years will let you qualify for a loan amount of $150,470.  With a downpayment of 5% ($7525) like in the example above, your new house can cost as much as $157,995. That is almost $8,000 more house which can make a big difference!

So, either pay less each month for the house you want, or buy a more expensive house - either way it's a WIN.

If you've been thinking about Buying A House, now would be a good time to talk to a lender.  They will run a credit report on you and let you know what payment you qualify for and ultimately how much house you can afford.

If you have any questions about Buying A House in Hoover Alabama or the greater Birmingham area, I'd be happy to help, let me know at www.ToniBird.com.

Wow, Interest Rates are Great Today.

There is a lender in town who sends me the interest rates on a daily basis.  I really like this becasue it keeps me up to date with what is going on in case someone wants to know.  Well, today the rates dropped BELOW 6%.  His company was showing 5.875 with NO Origination fee on a 30 year fixed rate conventional.

Makes Me Want to Buy A HOUSE !!

They claim it has something to do with the government taking over Fannie Mae and Freddie Mac.  Well, if you are a plain citizen, and NOT a mortgage guru, you probably don't even know who Fannie Mae and Freddie Mac are.  Well DOES IT MATTER!  Call Your Lender, Lock in that rate and BUY TODAY.

If you would like to shop for a house - check out my website at www.ToniBird.com.  You will find every home for sale in Birmingham Alabama under Search the MLS. Questions - let me know.

The High School football games are finally here.  All that practice for the football team, band, cheerleaders and mascotts is finally paying off.  Parents and students from all over the county gather to watch their local team fight for victory.

To read what the Birmingham News had to say about the game click here.

I also like to watch the activity off the playing field.  It's amazing to see the cheerleaders fly through the air.  I know I wouldn't be that brave!  Never seen anyone dropped.  Have you watched what they do during halftime?  The cheerleaders go over to the other side and talk with the cheerleaders from the opposing team. Good training for the diplomatic corps - even though we are adversaries, we can find things in common.

I also like to watch the bands.  Most people don't realize, they have "two a day" practices just like the football players.  Think about the effort it takes to play an instrument and move in the right direction and stay with everyone else all while wearing that hot uniform.  And the percussion - they have more instruments out there than the symphony orchestra - all on wheels or being carried by a strong back.  It's quite amazing.  There is also the color guard and the dance team.  I especially like those capes that are one color on one side and a different color on the other and open up like a butterfly.

At last night's game Hoover's band played songs from West Side Story while Homewood's had a patriotic theme.  Both performed well and were very entertaining. The music during the game of course mirrored the excitement on the field as Hoover defeated Homewood 30 to 21.

I drove up to the front door today and saw this wonderful butterfly drinking from the Lanatana hanging baskets.  I had never seen one like this - a swallowtail.

I am not a fan of catepillars because they eat the leaves off of the rose bushes and other plants, but knowing those leaves went toward feeding this beautiful butterfly made that a little less aggravating.

Here in Hoover Alabama, we have many beautiful plants and living creatures.  I enjoy seeing sights like this one on a regular basis.

If you would like more information about the Hoover, Alabama area - contact me and I'd be happy to share.  If you are interested in shopping for a Home in Hooover Alabama, check out my website at www.ToniBird.com.

When was the last time you looked at your retirement portfolio? 

Do you get those quarterly stock reports? 

Are they performing the way you would like???????

As you take a look at your current financial snapshot, is there something missing from the picture?   Is your retirement plan diversified and growing in a way that will allow you to be comfortable in your golden years?  Many of us have IRAs or 401K plans through our company.  Did you know that you can also buy Real Estate within an IRA retirement plan? IRA stands for Individual Retirement Arrangement (not account).

Most Individual Retirement Administrators, such as banks or brokerage firms limit your IRA choices to the products they sell - such as stocks, bonds and CDs.  They are restricted by the plan document which dictates the type of investments allowed within the plan.  So, if you look for the real estate option within your current plan you may not see Real Estate as a choice. 

If you have investment property that is NOT within your retirement plan, you or your accountant can manage all the costs of the investment yourself. If you want your real estate to be inside your retirement plan, you will need to find a third party administrator to manage it for you (just as your IRA invested in stocks is handled by an administrator). I have found an investment company here in Birmingham Alabama that handles Self-Directed Retirement Plans.  You control the types of investments that you participate in, such as buying and selling Real Estate.

What type of Real Estate can you buy?  Almost any type as long as it is for investment purposes. 

Can you leverage your investment if you don't have enough money for a down payment?  Yes

Can you partner your IRA with others to make an investment?  Yes

If your retirement dollars are within a 401K plan with your current employer, those funds probably cannot be moved to a new Self-Directed IRA which allows for the purchase of Real Estate, however, if you have funds within a Traditional IRA, an IRA at a previous employer, or your company goes through a merger, those funds may be available for transfer to the Self-Directed IRA.  You can also start a self-directed IRA from scratch.

For more information about buying Real Estate in Hoover, Alabama, or a Real Estate Investment within your retirement plan, contact me at Toni@ToniBird.com or give me a call at 205-821-3312.  There are great opportunities in Real Estate today and I would love to help you build a portfolio for the future.

Birmingham Barons are playing for the championship.  Do you have your tickets yet?

Located in Hoover Alabama is the wonderful Regions Park stadium - home to the Birmingham Barons Baseball team.  If you have not been to a game, you NEED to go. Did you know that over 250,000 people have attended Barons games this year?  The Barons have drawn record crowds (over 250,000) for 21 years straight.

Why is that? 

1. The games are a great place to take the family.  The tickets are reasonably priced - general admission tickets (first come, first served seating) are only $6.00 each and all the seats have good views.  Reserved seats (also a bit more comfortable) are $8-$12. And by the way, Military personal get a $1 discount.  There is a play park, so if the kids get bored, they have something to do.

2. The facility is fantastic.  Originally built in 1988 and given a facelift in 2007, the stadium has comfortable seating with a lot of seats in the shade - to keep you cooler on those hot days. It's easy to find a place to park (although you will have to pay extra for that) and the Hoover police keep traffic moving after the game so you don't spend as much time in the parking lot as you did in the game!  Regions Park (it used to be called the Hoover Met) is owned by the city of Hoover and is used for numerous events such as the Hoover High Football Games, Hoover High Band Competition. SEC Baseball Championship and other stuff.  We are lucky to have such a great stadium.

3. The Barons are a great team to watch.  They have been a Birmingham Baseball team since 1885 - click here for a history of the team. They are a farm team for the Chicago White Sox (for the last 22 years) so we can track players we see here as they make it up to the major leagues. They have won 13 Southern League Championships in their career and went to the playoffs 6 straight years between 2000-2005. 

 They have made it to the playoffs again and will host playoff games on Thursday, September 4^th and Friday September 5^th.  Tickets for the playoffs are the same as regular season, $6.00 for general admission and $8-$12 for reserved.  In addition to great baseball action, Thursday night's special is $1.00 drinks and 20 cent hot wings.  On Friday night you will get a great fireworks display.

If they win, there will be more baseball action to see here at Regions Park as they advance. So, get your tickets and come cheer on the Barons - plan for a night of fun!

Where is Regions Park?  Conveniently located near I-459 and HWY 150 in Hoover, Alabama the park is part of the Trace Crossings neighborhood.  If you would like to know more about living in Hoover, Alabama contact me at www.ToniBird.com.