Interest Rates Hikes, Bank Failures, & Huntsville Housing Market Report

 

For the February Huntsville Housing Market update, we are going to cover everything from average sales prices and inventory to interest rate hikes, bank failures, and the safest places to put your money. With an insight into how the market is currently operating, we'll also discuss what the Fed is doing and what the future holds. If you are buying or selling a home in Huntsville, Alabama, this information can help you make the best decision when it comes to your financial and real estate goals.

 

Average Sales Price & Homes Sold in Huntsville

Average sales prices have gone up in the Huntsville area by 5% year over year from $356,000 to $374,000 for your average home…

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Pros & Cons of Moving to Huntsville, Alabama


Huntsville is an amazing place to live. So much so that it was ranked the #1 city in the entire US to live in by US News & World Report in 2022.

Like anything in life, there are pros and cons to living in the Rocket City. I  think the pros far outweigh the cons, but I’ll let you decide for yourself as I  give you the information you need to decide if you want to call Huntsville, Sweet Home Alabama!

Pros of Moving to Huntsville, Alabama

Pro #1: Huntsville's Booming Economy & Job Market.

The city is home to several high-tech companies, including NASA, Boeing, and Lockheed Martin, which have brought a lot of job opportunities to the area. The presence of these companies has also created a…

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Sneak Peek Listings for March 24th

360 Weatherford - $415,000

360 Weatherford Drive NW, Madison, Alabama 35757

4 Bed | 3 Bath | 2,840 sqft

Talk to an MC Agent today for more info or call 256-270-9393

29841 Glenrose - $360,000

29841 Glenrose Way, Harvest, Alabama 35749

3 Bed | 3 Bath | 3,823 sqft

Talk to an MC Agent today for more info or call 256-270-9393

 

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Are Homes Getting Smaller in Huntsville, Alabama?



New construction homes are getting smaller nationally and here locally in Huntsville, Alabama. 

The square footage of new homes has been at its lowest level in the last decade. Take a look at the chart at the 00:20 mark in the video above. The average is now 2,472 square feet, this is down from a high of nearly 2,700 square feet where things seem to have peaked around the 2015 time frame. They were starting to go back up during the pandemic with more people working from home and needing extra space. However, the square footage of new homes is continuing that downward trajectory. The average is about 2,472 square feet which is still up over the last couple of decades, in 2000 we were at about 2200…

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Sneak peek Listings for March 17th, 2023

14409 Crooked Stick - $323,500

14409 Crooked Stick Place, Athens, Alabama 35613

3 Bed | 3 Bath | 1,989 sqft

Talk to an MC Agent today for more info or call 256-270-9393

 

151 Farmington - $195,000

151 Farmington Drive, Harvest, Alabama 35749

3 Bed | 2 Bath | 1,345 sqft

Talk to an MC Agent today for more info or call 256-270-9393

 

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Ultimate Guide to Moving to Huntsville, Alabama

If you're considering a move to Huntsville, Alabama, congratulations! You've made a great choice. There are some things you need to know before moving to Huntsville though! Known as the Rocket City, Huntsville is home to NASA's Marshall Space Flight Center and the US Army's Redstone Arsenal, making it a hub for innovation and technology. But moving to a new city can be overwhelming, especially if you don't know much about it. That's why we've put together this ultimate guide to moving to Huntsville, Alabama.

Huntsville's Location in Alabama and the Southeast

Huntsville is located in the northern part of Alabama in Madison County. The city is situated in the Tennessee River Valley and is…

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Huntsville Receives Top Credit Rating

Once again, the city of Huntsville, Alabama has achieved a Triple-A credit rating from both Moody’s and S&P Global Ratings. That's right, Triple-A!

Now, you may be thinking, what's the big deal about a credit rating? Well, a Triple-A credit rating means that Huntsville is considered to be of the “highest quality, with minimal risk” and reflects the City’s ability and willingness to meet their financial obligations. This is a significant accomplishment, as the average for municipalities is AA, and compared to the corporate world, it's BA.

What's even better is that this Triple-A rating means that the city of Huntsville has the lowest interest rate possible. Out of all the cities in Alabama, only three have…

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Sneak Peek Listings for March 10th, 2023

600 Highland - $419,000

600 Highland Drive, Madison, Alabama 35758

4 Bed | 3 Bath | 2,773 sqft

Talk to an MC Agent today for more info or call 256-270-9393

17052 Obsidian - $450,000

17052 Obsidian Circle, Athens, Alabama 35613

4 Bed | 4 Bath | 3,248

Talk to an MC Agent today for more info or call 256-270-9393

24525 Ridge Road - $110,000

24525 Ridge Road, Elkmont, Alabama 35620

3 Bed | 2 Bath | 1,344 sqft | 3 Acres

Talk to an MC Agent today for more info or call 256-270-9393

 

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5 Steps to Selling Your Home in Huntsville, Alabama


Selling a home in the Huntsville, Alabama market can be a complex process, but there are a few steps that you can take to make it a smooth process for you. We’ll outline the five critical steps involved in selling a home, including setting a competitive price and responding to market trends. Additionally, we’ll provide advice on selecting the right real estate agent and present two exclusive programs to assist you in obtaining the best possible price for your home. By following these steps, you can ensure a successful home-selling experience.

Before taking any steps to sell your home, you're going to want to hire a local real estate agent. There are some tips at the end on how to hire a good…

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How to Buy Your First Home in Huntsville, Alabama & Build Wealth

Buying your first home in Huntsville, Alabama, is a great way to build wealth. According to the US Census, homeowners have an average of 40 times the net worth of renters. That's $255,000 versus only $6,300 for renters. Let's jump into the six steps on how to buy your first home in Huntsville, Alabama.

1. Determine Your Budget

The first step is to determine your budget. A lot of that is going to be dependent upon you, it's going to be dependent on your credit, your income, and your overall debt level.

A good rule of thumb is a 28/36 rule. Basically, your house payment should not be greater than 28% of your gross monthly income. The 36 is if you add your house debt and…

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