Weekly Update

December 13th, 2024 - #481

Good Evening,

Gang, welcome to the December Friday the 13^th OR the less ominous 12 days until Christmas count down. Thanks to y’all, this year’s Toy Drive was our biggest haul yet and a special thanks to Dennis for the toys he dopped off and to Aimee for dropping off by at the proverbial buzzer as well.



Our editors are WAY behind on their shopping as they were laser-focused on finding several interesting stories for your reading enjoyment. You can help them get out there while they finish their shopping, if you see an interesting story or amazing house send it our way! BUT before we get to update, we continue to help with a few questions about house-related needs from y’all including a skylight question and some landscape fertilization questions. So, if you ever find yourself needing help with something at your house whether small or needing help with renovations, like redoing a closet or bathroom, or need more square footage etc. feel free to reach out! Back to the update… this week, rates increased slightly– the results of which you can see just above the trivia question. Before you scroll down to the rates and trivia, as usual, there is LOTS GOING ON, SO LET’S GET STARTED.

CRAZY STORY

Crazy story time –According to some estimates, if people continue purchasing Electric Vehicles at the current pace, by 2040, the global need for charging stations would skyrocket. But those stations would be static and stationary… right?

Lemme introduce you to ZiGGY – a Robotic Mobile Charging stations.

EV Safe Charge has unveiled ZiGGY, the world’s first AI-powered, mobile EV-charging robot. Ziggy is equipped with high-definition screen for communication and advertising opportunities (“The Smartest Way Home” would look AWESOME on these things), ZiGGY brings charging to the vehicle, solving the problem of limited stationary chargers, and answers the question of, could a car charge itself?  This little robot could be perfect for facilities like shopping centers, hotels, and airports, offering a flexible and more affordable solution to meet the BOOMING demand for electric vehicle charging.

Ziggy techy, cool and has ties to right here in Birmingham, receiving some of their funding thru the EnergyTech Accelerator, powered by Alabama Power and located right here in Birmingham, Alabama. Their application was chosen over 99% of the other applicants (Gang our approval rate is much, much, MUCH higher). If that wasn’t ENOUGH of a tie to here in Alabama, Birmingham and Tuscaloosa will soon be part of a pilot program for EV Safe Charge and Ziggy. If it catches on in a big way, that nationwide network of refueling stations could be headed for extinction. Click below to read more about this new invention. 

DRONING ON AND ON...

We missed this one a few weeks ago, but our editors felt like this should work in tandem with ZiGGY above. Shenzhen, China, has become the world’s drone capital, smashing records with aerial lighted drone displays. In September, 10,197 drones lit up the sky, forming floating cities, martial artists, and animals in a truly phenomenal sight to see. But this isn't Shenzhen’s first record-breaking performance. Just a few weeks earlier, they launched 8,100 drones in another jaw-dropping display. Back in 2020, the record was a "mere" 3,051 drones. Fast forward three and a half years, and that Guiness Record Book number for, 'most unmanned aerial vehicles airborne simultaneously' has more than tripled! The sky is NO LONGER the limit… Click below to watch more.

ALABAMA GETS THE CREDIT

Since we have to continue to wait for the end to abusive trigger leads with that amendment deleted from the NDAA bill that was previously, all but certain to pass (by the way, have you opted out yet?), we wanted to include a story about credit here. Wallethub.com recently released their findings for credit reports using data from Transunion from 2024. The average credit score in America is 701. But credit scores vary widely across the country. Minnesota leads the pack with an impressive average score of 726, but New Hampshire (723) and Vermont (722), are close behind.

At the other end of the spectrum, Mississippi ranks last with 672, followed by Louisiana (677) and Alabama (680). The 54-point gap between top and bottom show how local economies and factors like income and unemployment play big roles in boosting—or dragging down—scores.

Alabama IS near the top in another spirited study.

According to a “study” by an online gaming market, Alabama currently ranks No. 3 among the “Most Christmas-Obsessed States” in the U.S.! Alabamians deck the halls like pros, trailing only West Virginia and Utah in holiday spirit, or rather data compiled from Google searches and time-honored festive traditions, it’s clear Alabama brings the Santa spirit!

Huntsville’s Tinsel Trail, with its beautifully decorated trees, and the Heart of Dixie Railroad Museum’s magical North Pole Express are just two examples of how some communities go all out. Cullman recently even earned Southern Living’s praise for its Christmas market and 40-foot Christmas tree pyramid! Click below to see if, as Buddy the Elf may have said, “the best way to spread Christmas cheer is singing loud for all to hear.” DECORATING A LOT! 

REAL ESTATE TO BEHOLD

Here’s a few for your enjoyment. First, let’s head to Texas for one that’s deep in the heart… Clap, Clap, Clap, Clap of Texas. A stunning 600-acre ranch near Fort Worth, listed for $19.8 million, is the ultimate blend of luxury and nature. The K6 Ranch boasts a 7,200-square-foot main house, a 2,300-square-foot guest house, and world-class amenities, including an infinity pool, outdoor kitchen, gym, pickleball court, and equestrian facilities. The property features 12 stocked ponds, seasonal creeks, and abundant wildlife, making it a hunter’s paradise. With acres of hay fields, multiple water sources, and even oil and gas wells, this property offers both beauty and investment potential. Located just outside the historic spa town of Mineral Wells, it’s a perfect mix of privacy and accessibility. Click below to see more.

STAYING in Texas for a minute for one that’s a little smaller, but includes, EXACTLY what everyone needs - A WINDMILL. The Circle S Ranch, a 40-acre estate in New Braunfels, Texas, is listed for $5.45 million and offers a blend of rustic charm and modern amenities. The ranch features a newly renovated 2,700-square-foot main house, built from stone sourced on the property, along with an antique log cabin, an observation tower, a windmill, and a rare beach-entry swimming pool. Originally built in the 1920s, the ranch has only had two owners, and the current owners, have spent decades thoughtfully enhancing the property. The estate includes guest accommodations, a barn, and numerous outdoor living spaces, all set against a backdrop of lush oak trees and abundant wildlife. Located between San Antonio and Austin, it offers the perfect blend of country living with easy access to city amenities. Click on the pictures below to read more.

They may say everything is BIGGER in Texas, but how about a 100-acre ranch along Big Sur in California? This stunning oceanfront property, listed for $100 million, could set a record for Monterey County if it sells near its asking price. The ranch has been in the same family for over 60 years and offers sweeping views of the coastline, a sandy beach, and three homes, including a 1940s ranch-style house and two more modern residences. Located on the same ridge as the famous Post Ranch Inn, the property is deeply rooted in family history, with seller C. Blake Forrest recalling childhood memories of life on the ranch. The estate, while remote, offers an incredible sense of freedom and natural beauty but also comes with challenges like unpredictable weather and landslides that occasionally isolate the area. Despite these challenges, the property is a unique piece of Big Sur, and with its hefty price tag, it stands to break local records for the region's real estate market.

THE ECONOMY AND REAL ESTATE

Inflation moved higher in November for the second straight month, and while prices aren’t soaring like they were in 2022, they’re still climbing. Wednesday, Core CPI held steady at 3.3% YoY, the Consumer Price Index (CPI) rose 0.3% last month, nudging the annual inflation rate from 2.6% to 2.7% year over year. Most of the increase came from shelter costs, which rose 0.3% and made up about 40% of the CPI bump. Meanwhile, food prices crept up 0.4%, thanks in large part to a 55% spike in egg prices… what will that do to NOG pricing? The good news is energy costs barely moved.

Thursday, the Producer Price Index (PPI) reported a sharper rise than expected in November, increasing 0.4%, above the forecasted 0.2%. However, when food and energy were excluded, the core PPI met expectations with a 0.2% gain. On the jobs front, first-time unemployment claims also surprised, climbing to 242,000 for the week ending Dec. 7—17,000 higher than the previous week and above the 220,000 estimate.

The financial editors for the Update, think that the Federal Reserve is likely to respond to the inflation reports this week by cutting interest rates 0.25% next week. (our editors aren’t TOO far out on a limb since markets are predicting a 99% chance of a quarter-point reduction.) This would mark the fourth cut since September as the Fed works to tame inflation while keeping the economy on track. Click below to read more.

In October, pending home sales increased for the third month in a row, with the National Association of Realtors' (NAR) Pending Home Sales Index rising 2% to 77.4—a 5.4% boost compared to last year. NAR's Chief Economist, Lawrence Yun, attributes this growth to steady job additions and a slight uptick in housing inventory, which are encouraging more buyers to enter the market. However, mortgage application volumes have dipped, as rates rose. Regionally, the Northeast saw the most significant monthly gain at 4.7%, followed by the Midwest at 4%, the South at 0.9%, and the West with a modest 0.2% increase. The Market continues to balance affordability and the limited inventory in the housing sector. Click below to read more.

Economic reports like these seem to continue to point us towards a busier 2025. So, we wanted to include a piece from our friends at Keeping Current Matters about improving affordability by moving to less expensive areas. In this market, if you want to see what’s out there, please reach out, let’s get your budget and we can help connect you with a great real estate agent to help guide you along. Until then, keep reading below, “Don’t Let These Two Concerns Hold You Back from Selling Your House.”

Moving to a more affordable area could be the fresh start you need to get ahead financially. While some markets are certainly more affordable than others, know that working with a trusted real estate agent to find what fits your budget and your desired location – no matter where you want to be – is always the best plan. And with the rising cost of living, many people are rethinking where they live and looking for ways to cut expenses. If that sounds like you, here’s a great place to start (see visual below):

These states are well known for lower housing costs, reduced insurance premiums, and more budget-friendly daily living expenses – but they’re not the only places to find a hidden gem. If you're open to relocating, you might discover the savings you’re looking for.

Why Move to a Lower-Cost Area?

Life is getting more expensive by the day. From rising home prices to higher grocery bills, it feels like everything costs more than it used to. Housing, the largest expense for most people, has become especially costly.

In fact, according to data from Case-Shiller, home prices increased 3.9% from September 2023 to September 2024. And data from GOBankingRates shows insurance costs are up too, with home insurance premiums averaging $2,151 annually – a significant jump compared to recent years.

These rising costs can feel like a lot to handle. That’s why more people are considering lower-cost areas. An article from the National Association of Realtors (NAR) says:

"With the past decade of rising home prices, buyers are looking for more affordable areas . . . As housing affordability continues to shape migration patterns, these areas may provide an opportunity . . . for those looking for more cost-effective alternatives to the nation’s larger, pricier metropolitan areas."



Lower-cost areas typically offer more affordable housing, less expensive home insurance, and reduced costs for daily living like groceries and gas. Transportation expenses and car insurance premiums also tend to be lower. For anyone feeling stretched thin, moving to a less expensive area can provide meaningful financial relief.

Planning Your Big Move

Whether it’s finding a home that fits your budget or cutting down on other expenses, making the right move in any market can bring significant financial relief. Of course, moving isn’t a decision to take lightly.

Whether you’re moving just a few towns over or to a completely different state, there’s a lot to consider. From job opportunities, to schools, to local amenities – it all has an impact on finding the right home for you.

This is where a knowledgeable local real estate agent can be your best resource. Not only can they help you navigate the housing market in your new or desired area, but they’ll also guide you to neighborhoods that balance affordability with your needs.

And don’t worry if none of the states on the affordability list seem like the right fit for you. An agent can still help you identify budget-friendly options wherever you need to be.

Bottom Line

If the rising cost of living has you feeling stuck, know that you have options. Moving to a more affordable area could be the fresh start you need to get ahead financially and improve your quality of life.

But don’t try to tackle the process alone. With the help of a real estate agent who knows the area, you’ll be well-prepared to make a move. When you’re ready to take the first step, let’s connect.

RATES:

Pricing and rates remain erratic and volatile. Confirm rates & pricing directly with your loan officer.

Check out the trivia below and remember, there is a drawing to enter to win a gift card. This is your chance to enter for a chance to win the gift card awarded every other month. This trivia question is for the November & December drawing/card.

TRIVIA QUESTION

On Saturday the Heisman Trophy will be awarded at night, but during the day, the annual Army – Navy game will be played in Andover, Maryland in the stadium where the Washington Commanders play their NFL games. Previously, the game had been played a total of 90 times in Philadelphia, four times in West Point and three times in Annapolis. The game has been played one time west of the Mississippi. Where was that game held?

A.    Soldier Field, Chicago, IL

B.    Rose Bowl, Pasadena, CA

C.    Cowboys Stadium, Arlington, TX

D.   Candlestick Park, San Francisco, CA

E.    Falcon Stadium, Air Force Academy, CO 

Click here to EMAIL ME YOUR ANSWER.

**Email your answer to me to have your name entered in a drawing for a gift card at the beginning of odd months and YES you can go back and answer previous weeks’ questions if you have not answered them already AND if we have not unveiled the answer yet***

Have a great rest of the weekend. Stay safe out there. If you have any questions, please do not hesitate to call. You can contact me by email. Please, follow us on Facebook, Twitter, or LinkedIn. Thanks to many of you, we are continuing to expand our readership, so if you have a friend or client that you think may benefit from this newsletter, please feel free to forward it to them! If you got this from a friend, click here to sign up to receive it.