Realtor, Tennis Player, Titans & Vols Fan, Nashvillan

Season’s Greetings to All!

leave a comment »

Written by kbargers

December 20, 2014 at 10:02 am

Posted in dedication, Inspiration

Home Buying Gets Cheaper This Week

leave a comment »

Home Buying Gets Cheaper This Week
Daily Real Estate News | December 19, 2014

FreddieMac-LogoThe 30-year fixed-rate mortgage this week dipped to its lowest level in more than a year, bringing borrowing costs down for home buyers and refinancers.

The 30-year fixed-rate mortgage, the most popular loan among home buyers, averaged 3.80 percent this week, meaning that it has remained below 4 percent for every week except for two since Oct. 16, Freddie Mac reports in its weekly mortgage market survey.

Still, “the temporary decline in rates will likely be short-lived,” says Jonathan Smoke, chief economist at®. “Those who can take advantage now and lock in a purchase or refinance at these levels may never see these rates again. This is likely the last of the low rates. We’re likely to see increases in the weeks ahead.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 18:

  • 30-year fixed-rate mortgages averaged 3.80 percent, with an average 0.6 point, dropping from last week’s 3.93 percent. The 30-year rate was at its lowest average this week since May 2013. A year ago, 30-year rates averaged 4.47 percent. The 30-year fixed-rate mortgage’s record low was set on Nov. 21, 2012, when it averaged 3.31 percent.
  • 15-year fixed-rate mortgages averaged 3.09 percent, with an average 0.6 point, dropping from last week’s 3.20 percent average. Last year at this time, 15-year rates averaged 3.52 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 2.95 percent, with an average 0.5 point, dropping from last week’s 2.98 percent average. A year ago, 5-year ARMs averaged 3 percent.
  • 1-year ARMs averaged 2.38 percent, with an average 0.4 point, dropping from last week’s 2.40 percent average. A year ago, 1-year ARMs averaged 2.56 percent.

Source: Freddie Mac and “Mortgage Rates Hit Lowest Level of the Year Again,”® (Dec. 18, 2014); REALTOR® Magazine Online, Daily Real Estate News 121914


MarketGraphics Releases November 2014 New Home Permit Reports for Greater Nashville

leave a comment »

The Greater Nashville Area (12-County) New Home Permit Reports for November 2014
Courtesy of MarketGraphics Research Group | December 19, 2014

MarketGraphics Research, located in Franklin, Tennessee, releases November’s New Home Permit Reports for the 12-county Greater Nashville area: County/Builder/Subdivision New Home Permit Report, Permits by County New Home Permit Report, Top 50 Builders New Home Permit Report


Source: Paula Charles | MarketGraphics Research Group, Inc.
(615) 371-2282 | |


Did you know… down payment requirements have changed

leave a comment »

1509829888Did you know… According to this survey on yahoo finance, the #1 reason for renting and not buying a home, is because they don’t have money for a down payment, in fact over 53% of people in this study confirmed this.

Did you know that ALL of the down payment on conventional 5% down financing can now be gifted to buyers? Also, as you may know by now, conventional loans will, starting Monday, allowing first-time buyers to put only 3% down again- this is HUGE news! More details will be forthcoming over the next few days and we will share them.

All of the down payment funds can also be gifted on FHA financing too, which is a minimum amount of 3.5%. Were you aware of this?

Have a great weekend, and please let me know if you have a client needing some questions answered, or for a prequalification. If you have a client with a loan that looks like it might not be able to close this month, let us know, and we can see if we can close it! Our process is very fast!

by Brian Smith, Senior Loan Advisor
Movement Mortgage: Phone: (615) 525-8094


3% Down Payments May Be Game Changer

leave a comment »

3% Down Payments May Be Game Changer
Daily Real Estate News | December 9, 2014

FreddieMac-LogoMortgage giants Fannie Mae and Freddie Mac announced Monday that first-time home buyers can now qualify for loans with down payments as low as 3 percent. That will expand credit for qualified home shoppers who may have been sidelined the last few years because of higher down-payment requirements, housing analysts say.

Freddie Mac launched Home Possible Advantage, a conventional mortgage with a 3 percent down-payment requirement geared to low- and moderate-income borrowers. It’s a conforming conventional mortgage with a maximum loan-to-value ratio of 97 percent. To qualify, first-time home buyers are required to participate in a borrower education program.

With Fannie Mae’s 3 percent down-payment offering, borrowers must still meet standard eligibility requirements, including underwriting, income documentation, and risk management standards. Any buyer can take advantage of Fannie’s loans as long as at least one co-borrower is a first-time buyer. The loans will require private mortgage insurance.

“Our goal is to help additional qualified borrowers gain access to mortgages,” says Andrew Bon Salle, Fannie Mae executive vice president for single-family underwriting, pricing, and capital markets. “This option alone will not solve all the challenges around access to credit. Our new 97 percent LTV offering is simply one way we are working to remove barriers for creditworthy borrowers to get a mortgage.”

The National Association of REALTORS® applauds the move by the Federal Housing Finance Agency, which oversees Fannie and Freddie.

NAR said in a statement that the action by FHFA demonstrates its “commitment to home ownership by serving creditworthy borrowers who lack the resources for substantial down payments, plus closing costs, with a new 3 percent down-payment program that mitigates risk with strong underwriting. The new program ensures that responsible home buyers will have access to safe, affordable mortgage credit.”

Source: Fannie Mae and Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 120914


2015: Year of the First-Time Home Buyer

leave a comment »

2015: Year of the First-Time Home Buyer
Daily Real Estate News | December 05, 2014

NAR LogoFirst-time home buyers are expected to re-emerge in the new year after mostly staying out of the market in the aftermath of the housing crisis. That’s one of®’s five top housing predictions for 2015.

“The residual financial effects of recession-driven job losses and subsequent unemployment have impeded Millennials’ entry into the home-owning market,” says Jonathan Smoke, chief economist for®. “In 2015, increases in employment opportunities will empower younger buyers to return to the market and fuel the continued housing recovery. If access to credit improves, we could see substantially larger numbers of young buyers in the market. However, given a high dependency on financial qualifications, this activity will be skewed to geographic areas with higher affordability, such as the Midwest and South.”®’s top five housing predictions for 2015 are:

Millennials to drive household formation. Households headed by Millennials are expected to see significant growth in 2015, particularly as the economy continues to make gains. Millennials are expected to drive two-thirds of household formations over the next five years, according to®’s report. The forecasted addition of 2.5 million jobs next year, as well as an increase in household formation, are the two factors that® points to in driving more first-time home buyers to the housing market.

Existing-home sales on the rise. Existing-home sales are projected to rise 8 percent year-over-year in 2015, as more buyers enter the market. Distressed properties will make up a smaller share of that growth, unlike in 2012, when a similar increase in existing-home sales was mostly driven by distressed properties.

Home prices will rise. Home prices are expected to continue to edge up in 2015, with® forecasters predicting a 4.5 percent gain. “While first-time home buyers have many economic factors working in their favor, increasing home prices will make it more difficult to get into high-priced markets such as San Francisco and San Jose, Calif.,”® notes in its report. “As a result, first-time home buyer activity is expected to concentrate in markets with strong employment and affordability, such as Des Moines, Iowa; Atlanta; and Houston.”

Mortgage rates to inch up to 5 percent. In the middle of 2015, mortgage rates are expected to increase as the Federal Reserve increases its target rate by at least 50 basis points before the end of the year. That will likely bring the 30-year fixed-rate mortgage to an average of 5 percent by the end of 2015. (It’s currently averaging 3.89 percent, according to Freddie Mac.) The 1-year adjustable-rate mortgage, on the other hand, is expected to rise more minimally. “Lower ARM interest rates will influence an uptick in buyer interest for adjustable and hybrid mortgages,”® notes. “While still at historic lows, rate increases will affect housing affordability for first-timers trying to break into the housing market and will be another factor pushing them to less-expensive locales.”

Housing affordability will decline. Affordability for homes, based on home-price appreciation and rising mortgage interest rates, will likely fall by 5 to 10 percent in 2015. However, the decline in affordability likely will be offset by an increase in salaries next year for many households. “When considering historical norms, housing affordability will continue to remain strong next year,”® notes.

Source:®; REALTOR® Magazine Online; Daily Real Estate News 120514


Greater Nashville Home Sales Continue to Increase

leave a comment »

Press Release by Greater Nashville Association of REALTORS® | 120414

GNARNASHVILLE, Tenn. (Dec. 4, 2014) – There were 2,474 home closings reported for the month of November, according to figures provided by the Greater Nashville Association of REALTORS®. This figure is up 8.2 percent from the 2,287 closings reported for the same period last year.

Year-to-date closings through November are 30,431, a 6.9 percent increase from the 28,476 closings reported through November 2013.

“The increase in November is further proof of the health of the Middle Tennessee housing market,” said GNAR President Hagan Stone. “This is the highest level of closings for the month of November our region has seen since 2006.”

“With more than 2,000 sales pending, the Greater Nashville area is well on its way to exceeding last year’s total closings. These signs are welcome as we begin to look toward 2015.”

There were 2,489 sales pending at the end of the month, compared with 2,192 pending sales at this time last year. The average number of days on the market for a single-family home was 67 days.

The median residential price for a single-family home during November was $215,000, and for a condominium, it was $165,256. This compares with last year’s median residential and condominium prices of $195,000 and $150,000, respectively.

Inventory at the end of November was 13,715, compared to 15,262 in November 2013.

“If you are considering putting your home on the market early in the new year, now is the time to begin those preparations,” said Stone. “Set up a meeting with your Realtor now to discuss any changes or updates to be made to your home. It’s possible you might even conquer a few of those during the holiday break. The sooner your market-ready home is available in 2015, the greater your chance for a swift transaction.”

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

Source: GNAR Press Release 120414



4 out of 5 dentists recommend this site


A great site

Vonj productions

Inspiration received and put forth for the good of the people

The Dystopian Nation of City-State

A cruel, futuristic vision created by science fiction authors James Courtney and Kaisy Wilkerson-Mills. ©2013-2014 All Rights Reserved

Bubba Pigg

South' s Leading Anti- Intellectual: Wealthy in Common Sense and the Wisdom of Selfishness

Texasproudrealty's Blog

Real Estate Sales Houston Texas

The Travelling Pantry

Adventerous, Honest and Wholesome

The top 10 of Anything and Everything!!!

The top 10 of just about anything everything, from cakes to cats and dogs to caravans. Always a laugh, always worth seeing.


I left my heart in Middle-Earth...

William the butler

Serving drinks since 1985


This site is the bee's knees

Plutonium™ Paint

Ultra Supreme Professional Grade Aerosol Paint

Levi's Daily Thoughts

For I know that my Redeemer lives Job 19:25

Covered in Beer

by Thomas Cochran. Just another idiot on the Internet...Great.

The Girl in the Little Black Dress

Natalie. 18. Fashion Blogger.

Post it Notes from my Idiot Boss

delivered directly to my computer monitor on an all too regular basis...

Late Blooming Entrepreneurs

Making it big in business after age 40

automotive culture Blogs

Official Blog of the National Football League

A Certain Slant of Light Photography

... the landscape listens, shadows hold their breath

Jim Caffrey Images Photo Blog

nature photography from the ground up


Magickal Arts

A Good Blog is Hard to Find

I will shatter a word and scatter the contents into the wind to share it with the world.

Grow up proper

A raw view on life

Latest Offerings

A fine site

Welcome to the world of NECCO!

News, crafts, recipes and more from the New England Confectionery Company (NECCO).


This site is the cat’s pajamas


Read our Mission. Find out how you can help us adopt James.


His mission is to serve his clients with honesty, integrity and competence.

Sykose Extreme Sports News



Sutton Group Professional Realty

Something For Everyone's Needs

Ray Ferrer - Emotion on Canvas

** OFFICIAL Site of Artist Ray Ferrer **

Project Light to Life

A bucket list blog: exploring happiness, growth, and the world.

Wawang Lake Resort

FISH: Walleye, Northern Pike, Perch, White Fish

Don Charisma

because anything is possible with Charisma

Gabriel Lucatero Official Website

Chronicles of The Santa Barbara Diner and Other Stories

Cheeni Thoughts

a lifestyle blog!

Kendall F. Person, thepublicblogger

where writing is a performance art and every post is a show


An evolving commentary on the double top secret world of candle making


Just another site


Get every new post delivered to your Inbox.

Join 1,385 other followers