Rydal Park & Waters is one of our company's largest neighbors.  In a location that touches Abington, Rydal, and Jenkintown it is 55 acres of non-profit senior living.    This morning we were invited to share in the ribbon cutting for a new sidewalk along Susquehanna Road.  A new sidewalk...is ribbon cutting worthy?  Yes, in this case it really is. This new sidewalk connects the Rydal Waters Community with the Abington Township walking path and connections to the Abington Township Library and the SEPTA bus line.  Going the other direction, this gradually-sloping bit of sidewalk allows Rydal Waters residents to safely get to the shops of the Fairway (where we are) and to the Rydal Train Station.  Prior to today people were walking on the busy Susquehanna Road, which is rather unsafe.   Kudos to the Montgomery County Commissioners who provided much of the funding for this project, State Representative Ben Sanchez who added funding from the state, and Abington Township Public Works, who brought the project to life.    Quinn & Wilson is excited about the walkability this little bit of concrete brings to our community and are so excited we were asked to be there!        The existing trail that leads to the Library.

Last week BrightMLS, the Multiple Listing Service that provides property information for thousands of REALTORS throughout the eastern seaboard released their latest data on housing.   The information shows that the market is still amazingly good, especially in light of the fears that mortgage rate increases would stifle growth.    We are still in need of more houses to sell, as can be shown in the "Months of Inventory" statistic - a balanced real estate market (where there are equal buyers and sellers) would be 3 months.   Read the entire statistical presentation here.  You can also contact us if you would like more information on what these statistics really mean. 

Fed Decision: A Ripple Effect on Real Estate The Federal Reserve's decision today will send ripples through the housing market, impacting affordability, buyer behavior, and potentially even home prices. While the Fed doesn't directly set mortgage rates, their influence on the federal funds rate plays a significant role. Higher Borrowing Costs Likely on Hold Economists predict a pause on further interest rate hikes, following a period of aggressive increases in 2022. "The Fed's tightening bias seems to be over," says Mike Fratantoni, chief economist at the Mortgage Bankers Association. "[This] is good news for the housing and mortgage markets." Affordability: A Double-Edged Sword A steady federal funds rate could translate to stable mortgage rates, offering some relief to potential buyers. "This might provide a window of opportunity for those looking to lock in reasonable rates," says a spokesperson for realty firm Letterio Haug. However, current rates, hovering around 7%, remain considerably higher than the lows of recent years. Looking Ahead: Potential Rate Cuts The possibility of future rate cuts is a topic of discussion. "The focus has shifted from hikes to the pace of cuts," says Fratantoni. Reduced borrowing costs could significantly improve affordability, potentially leading to a more active market. However, the timing and extent of these cuts remain uncertain. The Federal Reserve's decision will undoubtedly influence the real estate market, but the full impact will likely unfold over time. Homebuyers and sellers should stay informed about the evolving situation and consult our team of agents and lender partners to make informed decisions