In a long-awaited move, the Federal Reserve announced that it has cut the federal funds rate by fifty basis points. The new federal funds rate, which acts as a benchmark for borrowing rates across the economy, is now reduced to 4.8%, the lowest rate since March of 2023. This is the first rate cut since […]
Interest rates remained flat during the first week of September, slowing down a multi-week decrease that experts attribute to the market preparing for the much-anticipated Federal Reserve cuts expected to be announced at the Fed’s next meeting, on September 18. “I do believe in anticipation of this cut, most of the reduction has been built […]
As part of the proposed $418M settlement to the NAR lawsuit, there’s going to be a few changes for both buyers and sellers in the TN Valley. The first big change is that buyer agreements are now required before viewing a home. It’s always been a requirement to go over a RECAD disclosure (even though […]
Real estate markets across the United States have begun responding to lowering interest rates. In the first week of August, the average rate on a 30-year fixed rate mortgage dropped to 6.73%. As a result, the Mortgage Bankers Association reported that mortgage applications jumped 6.9% over that week, while refinance applications rose 16% over that […]
In March, news broke of a class action lawsuit filed against Huntsville’s Eclipse apartment complex by several tenants. The lawsuit targets the developers and owners of the building, RCP Companies and Willow Bridge Inc., and alleges issues with false fire alarms and flooding at the apartment complex located at 401 Williams Avenue SW. The companies […]
Accessory Dwelling Units (ADUs), have been a hot topic to help solve the national housing supply crisis of approximately 6 million homes. Housing supply is not easily fixed as it would likely take at least a decade to bridge the gap, assuming we were building at the right pace, which we are not. So with […]
In its most recent rendition, the Huntsville City Council delved into a series of urban development projects, including the Mill Creek and Blue Bike initiatives, aimed at enhancing the city’s infrastructure and promoting sustainable growth. Affordability and transportation access The meeting opened with a focus on downtown development, highlighting efforts to increase diversity, affordability, and […]
Reports from the U.S. Department of Commerce showed a year-over-year decline in the rate of core inflation over the month of June, down to 2.5% from 2.6% the previous year. This marks the third consecutive month of year-over-year declining rates of inflation, the first signs that the inflation crisis, which has been at the heart […]
The Alabama Association of Realtors (AAR) has released its Alabama Economic and Real Estate Report for June of 2024. The report shows several indicators that the real estate market across the state is maintaining a strong and healthy level of activity. “The latest data underscores a positive trend in our housing market, driven by economic […]
The City of Huntsville and the Huntsville Housing Authority have secured a significant $50 million Choice Neighborhood Implementation (CNI) Grant from the U.S. Department of Housing and Urban Development (HUD). The goal of the grant, as outlined by the City’s longterm goals, is to help transform the area surrounding Butler Terrace and Johnson Towers into […]
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