Is Huntsville, Alabama Still Affordable?

 

We keep hearing that Huntsville is one of the most affordable cities in the United States, but is Huntsville really still affordable?

Housing Affordability in Huntsville

Overall affordability is measured using a few metrics, one of those metrics is the housing affordability index. If the housing affordability index score is 100, the median income for that city is 100% of what you would need to buy the median price range home for that area.

In Huntsville, housing affordability index numbers have actually continued to decrease. Locally, the score for single family homes is down to 78 compared to 119 in 2021 and 137 in 2020. The score for townhome affordability is down to 110 from 155 in 2021…

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Real Estate Capital Gains Tax Explained

A capital gains tax is a tax you pay on the profit you made from selling an asset. The tax paid covers the amount of profit - the capital gain - you made between the purchase price and sales price. In real estate, there are many factors that can decide if you have to pay capital gains tax and if so, how much. 

Real Estate Capital Gains Tax Question

I got a great question about real estate capital gains taxes from a viewer named Brett. Brett currently lives in Colorado and he purchased a home back in 1997 for $160,000. It's his primary residence, he and his wife live in that home, and they're now under contract to sell the home for $555,000 since they’re moving from Colorado to the Huntsville area. They…

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Are you thinking about buying a new construction home in Huntsville, Alabama? Matt Curtis Real Estate is here to help. Read below to learn about the pros and cons of new construction properties so you can decide on the best housing option when you search “homes for sale near me.” 

In the August Housing Update for Huntsville, Matt reports new construction is on sale due to a shift in builder strategy and other market factors. If you are in the market, now's a great opportunity to take advantage of the incentives builders are offering. 

Pros of Buying a New Construction Home

If you are looking at new homes in Huntsville, AL, there are important things to consider. Understanding the several benefits of purchasing a new property,…

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Huntsville, Alabama Housing Market Update

Real estate in Huntsville, Alabama has been growing steadily over the past decade. Read this article to learn more about the current state of the Huntsville housing market industry. 

With a population of nearly 500 ,000 people, the Huntsville, AL metro area  is home to NASA’s Marshall Space Flight Center and Redstone Arsenal. In recent months, Huntsville has seen an increase in new construction homes, a shift in interest rates, and changes in the real estate market. Several factors are affecting this month's housing market update, and the details are outlined below.

Federal Reserve Raises Overnight Rates

The Federal Reserve has raised our overnight rates again by 0.75% which is one of the…

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WHY INVESTING IN REAL ESTATE MAKES SENSE DURING INFLATION

In an annual Gallup poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best long-term investment (see graph below):

If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines.

Why Is Real Estate a Great Investment During Times of High Inflation?

With inflation reaching its highest level in 40 years, it’s more important than ever to understand the financial benefits…

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PROS & CONS: RENTING VS. OWNING

Renting vs. buying is an important decision that affects many aspects of our lives. It’s also a big financial commitment. This article offers important points that outline the good and bad of renting versus owning your next home. Here are some things to consider before making a decision.

Renting Pros: 

  • Lower Payments

If you rent, you’re likely paying less than if you were to buy. You won’t be responsible for property taxes, insurance, maintenance, and repairs. And because you’re not tied into a long-term contract, you can move at any time without penalty.

  • Flexibility

Renting also offers you flexibility not always given with homeownership. Leasing an apartment also gives you…

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QUESTIONS TO ASK A LISTING AGENT

If you look to buy a home in Huntsville, you will likely hire a listing agent to help you find one. Many homeowners find it necessary to sell their home. The home selling process is unique for each individual home. Finding a real estate selling agent that can effectively market your home is vital if you want maximum value from your home sale. Also, observing when the home is placed on the market, the housing market shift, and discovering comparable homes for sale is significant. However, there are some things you should consider before you begin interviewing agents.  

What You Need To Know Before You Start interviewing A Listing Agent

The first thing you need to know before hiring a realtor is whether they…

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When Will Real Estate Prices Drop?

Are real estate prices going to drop in 2022 and 2023? What are the current predictions for our real estate market? As far as predicting future trends, it's difficult to say with certainty whether or not real estate prices will continue to rise or fall. It depends on many different factors, such as how much inventory exists, interest rates, the value of homes, and other macroeconomic indicators.

In this article, we will tell you exactly what you should know about real estate prices and the real estate market so you can make the best housing market decisions when you're ready to buy and sell your home. 

What to know about the 2022 Real Estate Market 

If you're thinking about buying or selling a property…

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