KENNETH BARGERS BLOG

Realtor, Tennis Player, Titans & Vols Fan, Nashvillan

Mortgage Rates Dip Below 4% Threshold

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Mortgage Rates Dip Below 4% Threshold
Daily Real Estate News | October 17, 2014

FreddieMac-LogoBorrowing costs sank to the lowest amounts in more than a year as the 30-year-fixed rate mortgage averaged 3.97 percent this week, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage is at its lowest average since the week of June 20, 2013, when it averaged 3.93 percent.

“Mortgage rates were down sharply following the decline in the 10-year Treasury yield for the second straight week,” says Frank Nothaft, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 16:

  • 30-year fixed-rate mortgages: averaged 3.97 percent, with an average 0.5 point, posting a big drop from last week’s 4.12 percent. A year ago, 30-year rates averaged 4.28 percent.
  • 15-year fixed-rate mortgages: averaged 3.18 percent, with an average 0.5 point, dropping from last week’s 3.30 percent average. Last year at this time, 15-year rates averaged 3.33 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.92 percent, with an average 0.5 point, dropping from last week’s 3.05 percent average. A year ago, 5-year ARMs averaged 3.07 percent.
  • 1-year ARMs: averaged 2.38 percent, with an average 0.4 point, also down from last week’s 2.42 percent average. Last year at this time, 1-year ARMs averaged 2.63 percent.

Source: Freddie Mac; Realtor Magazine Online, Daily Real Estate News 101714

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate : marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
kennethbargers.com blog | www.pilkertonrealtors.com web

2 Cadillac Drive, Brentwood TN 37027 address

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Early voting begins tomorrow in Tennessee… it matters!

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Written by kbargers

October 14, 2014 at 2:03 pm

America’s Youth and Homeownership

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Americas Youth & Homeownership

Provided by:
Brian Smith, Senior Loan Advisor | Movement Mortgage
brian@tnhomelender.com email | (615) 525-8094 telephone

30-Year Mortgage Falls Back to Yearly Lows

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30-Year Mortgage Falls Back to Yearly Lows
Daily Real Estate News | October 10, 2014

FreddieMac-LogoBorrowing costs were down once again this week, giving home buyers another opportunity to lock in some of the lowest rates of the year.

Freddie Mac reported the following national mortgage rate averages for the week ending Oct. 9:

  • 30-year fixed-rate mortgages: averaged 4.12 percent, with an average 0.5 point, dropping from last week’s 4.19 percent average. Last year at this time, 30-year rates averaged 4.23 percent.
  • 15-year fixed-rate mortgages: averaged 3.30 percent, with an average 0.5 point, dropping from last week’s 3.36 percent average. Last year at this time, 15-year rates averaged 3.31 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.05 percent, with an average 0.5 point, dropping from last week’s 3.06 percent average. A year ago, 5-year ARMs averaged 3.05 percent.
  • 1-year ARMs: averaged 2.42 percent, with an average 0.4 point, holding the same average as last week. A year ago, 1-year ARMs averaged 2.64 percent.

Source: Freddie Mac; Realtor Magazine Online, Daily Real Estate News 101014

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate : marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
kennethbargers.com blog | www.pilkertonrealtors.com web

2 Cadillac Drive, Brentwood TN 37027 address

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Americans’ Attitudes Improve on Housing

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Americans’ Attitudes Improve on Housing
Daily Real Estate News | October 08, 2014

Fannie-Mae-Logo-200wConsumers’ optimism toward the housing market showed a slight rebound last month, with more people now saying it’s a good time to buy or sell a home, according to Fannie Mae’s September 2014 National Housing Survey, based on about 1,000 Americans’ attitudes on the housing market.

The share of consumers who say now is a good time to purchase a home rose to 68 percent in September, a four percentage point increase from August. Also, the share of Americans who said they’d prefer to buy a home on their next move rose to 66 percent, following a three-point drop the previous month. The percentage of those who reported now is a good time to sell grew to 39 percent. Those surveyed also were more upbeat about home prices rising in the next 12 months, with expectations of price gains of 2.2 percent, on average.

Consumers also showed greater optimism toward the overall economy, with 40 percent now saying the economy is on the right track, posting a five percentage point gain from last month.

“The September National Housing Survey shows a slight recovery in consumer housing sentiment after a two-month setback, bringing us back to the modestly positive trend we’ve seen over the last year,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “It might be too late to save this year’s home sales from posting the first decline in five years. However, the return to an upward trend in housing sentiment, combined with this month’s positive news on the jobs front, suggests that a broad-based, albeit measured, housing recovery is on track to resume in 2015. The results of the past few months show that consumer optimism remains cautious and somewhat volatile, and we’ll likely continue to see bumps on the housing recovery path reflected in our survey results.”

Source: Fannie Mae; REALTOR® Magazine Online, Daily Real Estate News 100814

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate : marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
kennethbargers.com blog | www.pilkertonrealtors.com web

2 Cadillac Drive, Brentwood TN 37027 address

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Greater Nashville Home Sales Increase 19% in September

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Greater Nashville Home Sales Increase 19% in September
Press Release by Greater Nashville Association of REALTORS®; October 8, 2014

GNARNASHVILLE, Tenn. (Oct. 8, 2014) – There were 3,122 home closings reported for the month of September, according to figures provided by the Greater Nashville Association of REALTORS®. That number is up 19 percent from the 2,626 closings reported for the same period last year.

Third quarter numbers have increased from 2013 with 9,606 closings reported, which is 8.4 percent higher than last year’s third quarter closings of 8,861.

Year-to-date closings for the Greater Nashville area are 24,942. That total is up 5.2 percent from the 23,720 closings reported through the third quarter of 2013.

“Seeing an increase in home sales in September, third-quarter and year-to-date says a lot about the market in our region,” said GNAR President Hagan Stone. “Between July and September, nearly every county in our area saw increases in residential sales, condominium sales or both. These numbers are strong indicators that Middle Tennessee remains healthy and vibrant as we move into the fourth quarter.

“In addition, we are confident that good economic and job growth news like Under Armour’s distribution center in Mt. Juliet, the opening of the Mars Petcare Global Innovation Center in Thompson’s Station and the groundbreaking on HCA’s Capitol View development will have a positive impact on area home sales in the coming year.”

There were 3,049 sales pending at the end of September, compared with 2,487 pending sales at this time last year. The average number of days on the market for a single-family home was 68 days, compared with 70 days for September 2013.

The median residential price for a single-family home during September was $211,400, and for a condominium, it was $162,000. This compares with last year’s median residential and condominium prices of $195,660 and $159,092, respectively.

Inventory at the end of September was 15,182, down from 16,263 in September 2013.

“Inventory remains at a lower level than we would prefer. As we enter the cooler months and holiday season, fewer sellers will enter the market,” added Stone. “For those considering selling your home, be sure the property is prepared, properly priced and presentable. With one of the strongest markets in the country, now is definitely the time to make the move.”

The Greater Nashville Association of REALTORS(R) is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR(R) is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors(R) and subscribe to its strict code of ethics.

Source: GNAR Press Release 100814

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate : marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
kennethbargers.com blog | www.pilkertonrealtors.com web

2 Cadillac Drive, Brentwood TN 37027 address

Subscribe BLOG: EMAIL ME your name/email address to receive Kenneth Bargers Blog
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October is Fire Safety Awareness Month

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October is Fire Safety Awareness Month

Do you participate in Fire Safety Awareness Month? How do you convey this important educational opportunity to your family and friends?

October has long been designated as Fire Safety Awareness Month by many industry associations, organizations, government and fire entities. While the campaign lasts the entire month, many groups coordinate with the National Fire Protection Association (NFPA) and designate the second week of October for events and activities.

FireBar-October2014ABOUT FIRE PREVENTION WEEK

Since 1922, Fire Prevention Week has been observed on the Sunday through Saturday period in which October 9 falls. This year the designated week is October 5-11, 2014.

Fire Prevention Week was established to commemorate the Great Chicago Fire, the tragic 1871 conflagration that killed more than 250 people, left 100,000 homeless, destroyed more than 17,400 structures and burned more than 2,000 acres. The fire began on October 8, but continued into and did most of its damage on October 9, 1871.

Nine decades of fire prevention  Those who survived the Chicago and Peshtigo fires never forgot what they’d been through; both blazes produced countless tales of bravery and heroism. But the fires also changed the way that firefighters and public officials thought about fire safety. On the 40th anniversary of the Great Chicago Fire, the Fire Marshals Association of North America (today known as the International Fire Marshals Association), decided that the anniversary of the Great Chicago Fire should henceforth be observed not with festivities, but in a way that would keep the public informed about the importance of fire prevention. The commemoration grew incrementally official over the years.

In 1920, President Woodrow Wilson issued the first National Fire Prevention Day proclamation, and since 1922, Fire Prevention Week has been observed on the Sunday through Saturday period in which October 9 falls. According to the National Archives and Records Administration’s Library Information Center, Fire Prevention Week is the longest running public health and safety observance on record. The President of the United States has signed a proclamation proclaiming a national observance during that week every year since 1925.

State of Tennessee
FIRE PREVENTION WEEK KICK-OFF EVENT

October 3, 2014 | 10:00am-3:00pm
Bicentennial Capitol Mall State Park Plaza
600 James Robertson Parkway
Nashville TN 37243

EVENT: Learn about fire safety, tour the Bicentennial Mall State Park, and eat/shop at the Farmer’s Market… all in one stop!

inflatable fire truck slide, fire safety house tours, fire safety demos/lessons, Shriner clowns, Smokey Bear and Sparky Fire Dog, fire safety information, new and antique fire trucks, great giveaways

QUICK FACTS

Become familiar with the importance of fire safety, detection and design. A quick review of the most recent and startling data available demonstrates the need to emphasize fire products, monitoring and education to every household.

Nationally, in 2011, the rounded numbers conclude there were 364,500 for residential building fires, 2,450 deaths, and 13,900 injuries, valued at 6.7 billion dollar loss. There were 85,400 non-residential building fires in the same year, 80 deaths, 1,100 injuries, valued at 2.5 billion dollar loss. The positive news is a strong trend in reducing the major category losses for the most recent five years analyzed. The 2011 data was last reviewed on July 9, 2014 for updates and corrections.

Fire Deaths in the South  The most recent data reported rates the following Fire Death Rate per Million Population: (the National Fire Death Rate average is 11.1)

Alabama 28.2   Arkansas 13.3   Florida 7.6   Georgia 16.9
Kentucky 17.5   Louisiana 19.8   Mississippi 25.3   Missouri 18.2
North Carolina 12.6   South Carolina 12.5   Tennessee 21.7
Virginia 10.3

REVIEW YOUR HOME’S FIRE SAFETY DETECTION

  • Do you have a fire escape plan? Discuss with members of your home an escape plan in case of fire and/or smoke. Coordinate a designated area outside the home to meet. Review at least once a year especially for young family members.
  • Smoke/Heat Detectors – replace and test your smoke detectors each year.
  • Heat Detectors – do you have the appropriate degreed heat sensors in the attic and garage?
  • Carbon Monoxide Detectors – Be proactive in detecting The Silent Killer, carbon monoxide, be sure to place carbon monoxide detectors in the home focusing especially in the sleeping areas of the home.
  • Is your fire system monitored? Contact your electronic security provider for an evaluation of the proper placement for your fire devices and have them tied in to your security system.
  • Take advantage of numerous educational materials offered from industry and government websites

Photo by Hatcher & FellBy Kenneth Bargers; kb@bargers-solutions.com

Research included source material from United States Fire Administration, National Fire Protection Association, National Association of State Fire Marshals, Federal Emergency Management Agency, State of Tennessee; October 2014 In The News

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