January 2, 2012
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marketing, real estate | bargers solutions, home maintenance tips, home winter maintenance, in the news, january 2012, kenneth bargers, monthly newsletter, Nashville, tennessee |
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Real estate investors, who call themselves wholesalers, are snapping up distressed properties, often paying all cash and seeking a discount, preferably from a cash-strapped home owner.
Then the real estate wholesaler flips the homes — often so fast that he never takes possession of the title. Instead, he signs a contract with the home’s owner and then signs the contract over to a new buyer for an “assigning fee” — the wholesaler’s profit.
“Wholesaling is finding a bargain for a bargain hunter,” says Michael Jake, a Colorado-based real estate investor.
Critics of the practice say it makes it harder for lower-income families to take advantage of a down market, not only because good deals are snapped up quickly but also because the practice distorts the market.
“It makes the bottom [of the market] very frothy and hard to figure out where real value is,” says Andrew Jakabovics, associate director for housing and economics at the Center for American Progress, a Washington, D.C., think tank.
Source: Christian Science Monitor, Tracey D Samuelson (05/17/2010)
May 20, 2010
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economy, marketing | andrew jakabovics, assigning fee, bargers solutions, center for american progress, christian science monitor, distressed properties, down market, flipping homes, home buying, home selling, kenneth bargers, michael jake, prudential woodmont realty, real estate investors, real estate wholesalers, realtor, tracey d samuelson |
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This month’s In the News newsletter is now available. If you wish to be added to the monthly distribution, please send me your name and email address to kb@bargers-solutions.com. I hope you enjoy this month’s contribution – http://www.bargers-solutions.com/NewsletterFebruary10.html
February 1, 2010
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marketing, real estate | bargers solutions, Brentwood, february 2010 newsletter, in the news, kenneth bargers, middle tennessee, monthly newsletter, Nashville, prudential woodmont realty, realtor, tennessee |
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What is happening to our society and the standard decency of civility in American life? Do these actors in the public eye represent the average person? Is this how your family member, neighbor, coworker, or friend behaves? When I come in contact with my clients or any consumer I do not see this behavior - these appear to be good people from all walks of life in which I enjoy wonderful conversations, whether personally or professionally. What has caused the disconnect and why do we reward bad behavior?
Just this past week in a variety of genres I have witnessed:
- Politics: A congressman shouting out in a sacred chamber to our President “You Lie” in a national address to the citizens of the United States and not being punished.
- Sports: Serena Williams, a great athlete, bombarding a lines person for doing her job with insults and threats after being called for foot fault and only being fined a minimal amount of money for this outburst.
- Music: Kanye West going on stage and ranting in front of the nation while an award is given to Taylor Swift how it should go to Beyonce.
Whether you agree with their points of view or not, is this how we communicate and behave in a civilized society? I was brought up with a value system to always treat everyone with respect. Unfortunately, the trend of rewarding bad behavior continues. We, as a whole, will continue to donate money to the Congressman’s campaign, support and root for the athlete, and buy the popular music. Maybe these public figures “get it” and know that their perceived impression of the dumbing down of America is a money maker. I hope that we, as average citizens, begin to make our point heard and let these public figures understand enough is enough and this is not how to behave, survive and prosper in this great country.
This is not the best way for me to start off my Monday but I feel better already!
September 14, 2009
Posted by kbargers |
Inspiration, marketing | civility, decency, public, society |
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Strategy in a shopping center – it can help or hurt to drive traffic. Maybe its me but I found this to be too funny.
September 11, 2009
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humor, marketing |
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| Pending Home Sales Record Fourth Straight Monthly Gain |
| Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the latest survey. The Pending Home Sales Index increased 0.1 percent to 90.7 from an upwardly revised reading of 90.6 in April, and is 6.7 percent higher than May 2008 when it was 85.0. The last time there were four consecutive monthly gains was in October 2004. Lawrence Yun, NAR chief economist, cautions that there could be delays in the number of contracts that go to closing. “Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions,” he said. “Rises in contract activity show buyers are becoming more active even as they face much more stringent loan underwriting standards. Speedy clarification of the appraisal rules could smooth a housing market recovery and support the overall economy.” Source: National Association of Realtors. |
| On Appraisals: the Impact of HVCC |
| A preliminary analysis indicates that the implementation of the Home Valuation Code of Conduct (HVCC) appears to be having adverse impacts on the housing market. Appraisal issues associated with the implementation of HVCC have recently been in the news. NAR Research has developed information on the subject through a statistically representative survey of the membership. |
July 15, 2009
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marketing, real estate, tennessee | home sales, kenneth bargers, monthly gain, trends |
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JUNE HOME SALES SHOW SOME SIGNS OF IMPROVEMENT
There were 2,091 homes sold in the month of June, according to figures provided by the Greater Nashville Association of REALTORS®. That figure is down 19.2 percent compared to the 2,591 closings reported for June 2008. The number of closings exceeded 2,000 for the first time since September of last year.
Second-quarter numbers are also down, with 5,478 closings reported, a 24.2 percent decrease from the 7,234 closings reported through the second quarter of 2008. Year-to-date closings for the Greater Nashville area are down 28.9 percent with 9,240 compared to the 12,997 closings reported through mid-year 2008.
“There are several encouraging signs in the current home sales data for Greater Nashville and Middle Tennessee,” said GNAR President Mike Nichols. “There were more than 2,000 closings in one month for the first time since September of last year. There are more than 2,000 sales pending for the second consecutive month. And, the median price for a single-family home is down only three percent from where it was a year ago. These signs are early indications of what we hope will become positive trends for the coming months. It does seem that more people are again beginning to explore the possibility of home ownership.”
In that regard, Nichols says first-time buyers can learn more about their opportunities by attending the upcoming Mayor’s Housing Fair, sponsored by Nashville Mayor Karl Dean, which is set for Sunday, July 26th from 1:00 p.m. until 5:00 p.m. at The Sommet Center.
The median residential price for a single-family home during June was $177,700, and for a condominium it was $152,870. Last year’s median residential and condominium prices for June were $183,615 and $185,500, respectively.
There were 2,141 sales pending at the end of June, compared with 2,684 pending sales at this time last year. The average number of days on the market for a single-family home was 83 days which is the lowest so far in the calendar year for 2009.
Inventory at the end of June was 24,552, down from 24,935 in June 2008.
“Inventory is actually down in every category except farm, land and lots,” said Nichols. “That category will likely remain large until homebuilding activity increases. Buyers still have plenty from which to choose. For sellers, the priority remains to make their home is priced, prepared and presented well in order to be attractive to buyers.”
Source: GNAR Press Release 070909.
July 9, 2009
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