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 […]
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 […]
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 […]
Recently, I took my car to get cleaned at a local car wash company in town. The logo on my car sparked a conversation with a young kid checking me in. He wanted to tell me that he was a real estate investor and wholesaler and told me about his recent “deal.” He said unfortunately […]
The June Mortgage Monitor Report released by the Intercontinental Exchange (ICE) shows that many of the Southern real estate markets, which saw a boom during the Covid-19 Pandemic, have begun to bust as the pace of buying has slowed and surplus inventory reaches or even exceeds pre-pandemic levels. Austin, Texas, for example, saw a 0.25% […]
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