Fed Raises Rates for 10th Straight Time

When are we going to get off of this roller coaster with the Fed? The Fed just announced its 10th straight rate hike, so what does that mean for homebuyers?

In the Fed's speech, they omitted some key language which has a lot of people interpreting this as the Fed saying that this is going to be the last rate hike. The Fed’s post-meeting statement omitted a sentence present in the previous statement saying that “the Committee anticipates that some additional policy firming may be appropriate”. Could the 10th straight rate hike be the last rate hike?  It looks like it may be, at least for the time being.

 

How Does This Affect Homebuyers & Mortgage Rates?

How is that going to affect everybody,…

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New Tax on Good Credit

You're not going to believe this, there's a new federal rule that is penalizing homebuyers with good credit. This new rule is coming at probably the worst time as home affordability is at an all-time low with higher home prices and higher interest rates This new rule is actually creating an additional burden for homebuyers and is going to price some homebuyers out of the marketplace because this rule could actually affect up to two-thirds of the potential market for new homebuyers.

This fee was designed to help people with lower credit scores purchase homes and get into homeownership, which is a great thing. The problem is, this is not the way to do that.  A few ways we can help more people purchase homes is to focus…

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2023 Housing Crisis

How Did We Get Here?

We have a housing crisis in this country and in Huntsville, AL. I know what you're thinking, how did we get here? We’ll look at how the 2008 housing crash actually started us down the path to our current crisis, how the COVID pandemic exacerbated things, and where the housing market stands in 2023.

How Did We Get Here?

Housing Crash in 2008

It all started back in 2008 when we had a housing crash in this country. As a result of this housing crash, we had fewer homes being built. Fewer homes were being built because banks were tightening up their development loans so builders and developers could not get loans to build these new communities. A lot of builders just simply went bankrupt during this…

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House Hacking & Millennial Housing Struggles

Are you a millennial struggling to buy your first home? You're not alone. The latest data shows that millennials are no longer the largest group of homebuyers, with their percentage of homes purchased dropping significantly in 2022. We’ll look at what contributed to this decline, what the possible outcomes are for millennials if this trend continues, and what millennials can do to get into the housing market to start building wealth.

Millennial Housing Struggles

Millennials are having huge problems with housing right now. For the first time in eight years, millennials are not the largest portion of home buyers. They dominated from 2014 to 2021 but in 2022 they took a big downward spiral in…

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Big News from Zillow & Zillow's New 2023 Housing Predictions

Zillow has updated its 2023 Housing Predictions and it’s making waves in the real estate industry. While there is an expected increase in home values, there is also a predicted decrease in the number of homes sold, leaving many wondering what is causing this shift. With a shortage of supply and potential homebuyers sitting on the sidelines due to higher interest rates, the market is experiencing volatility. However, recent bank failures could change the game. We’ll look at the changes in Zillow’s housing forecast as well as how they will affect buying and selling a home in Huntsville, Alabama. Read until the end to find out big, breaking news from Zillow!

Zillow’s New Prediction on…

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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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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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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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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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