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More Americans Are on the Move, Survey Says; Tennessee Among Top Inbound States

More households are moving to East Coast states while leaving Rust Belt states — the area in the U.S. between the Midwest and the Northeast — where unemployment remains high, according to the latest Atlas Lines Migration Patterns study, which has tracked the nation’s moves since 1993.

For the fifth year in a row, Washington, D.C., had the highest percentage of inbound moves while Ohio had the highest percentage of residents leaving, or “outbound moves.” Meanwhile, western states mostly stayed balanced in moves for the year. Several southeastern states, such as Florida and Georgia, also stayed balanced in moves despite high foreclosure rates, possibly because they also serve as retirement hot-spots, according to the survey.

The summer months continued to have the largest number of moves per season, according to the survey.

The following is a list from the Atlas Van Lines’ 2011 Migration Patterns study showing the top outbound states for moves (in which more than 55 percent of total shipments moved out of the state) and inbound states (in which more than 55 percent of total moving shipments moved into the state). The list is in no particular order.

Top Outbound States for Moves

• Ohio
• Indiana
• Illinois
• Kansas
• Nebraska
• Utah
• Minnesota
• Wisconsin
• Louisiana
• New York
• Massachusetts
• Connecticut
• Delaware
• New Jersey
• West Virginia
• Missouri
• Kansas
• Hawaii

Top Inbound States for Moves

• Washington, D.C.
• Maryland
• Texas
• Virginia
• North Carolina
• New Hampshire
• Rhode Island
• New Mexico
• Alaska
• North Dakota
• Tennessee

View Helpful Link: http://www.atlasvanlines.com/infographics/2011-migration-patterns

Source: Atlas Van Lines 2011 Migration Patterns; Daily Real Estate News (010412); Blog distribution provided by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

January 4, 2012 Posted by | real estate, relocation | , , , , , , , , , , , | Leave a Comment

The Greater Nashville Area Continues as One of the Nation’s Top Destinations to Live, Work, and Play!

Each year the Greater Nashville area earns numerous top-tier national rankings for our strengths in business investment, quality of living, education, entrepreneurship, entertainment and diversity of population.

In 2011, the recognition of our communities’ existing features and future potential provides an impressive list. Nashville Rankings: Read the Complete Article…

December 1, 2011 Posted by | Nashville, relocation | , , , , , , | Leave a Comment

Nashville Ranked #2 of the Best College Towns for Investors

Housing markets with universities and colleges are often considered great buys for real estate investors, typically attracting a steady flow of renters.

“Housing demand in college towns is generally high and vacancy rates are usually low,” says Steve Berkowitz, CEO of Move Inc. “Combine the supply and demand ratio with rising admissions and the five percent rise in rental rates expected by the end of the year, and rental property in college towns can be a smart option for the right investor.”

The following is a list of seven strong college towns for real estate investments, according to Move.com.

1. Boston   Median list price: $335,000, Average two-bedroom rent: $3,122, Average mortgage: $1,370

2. Nashville   Median list price: $189,000, Average two-bedroom rent: $949, Average mortgage: $770

3. Chicago   Median list price: $199,900, Average two-bedroom rent: $1,780, Average mortgage: $820

4. Washington   Median list price: $375,000, Average two-bedroom rent: $3,086, Average rent: $1,530

5. Houston   Median list price: $174,900, Average two-bedroom rent: $1,218, Average mortgage: $710

6. South Bend   Median list price: $112,900, Average two-bedroom rent: $790, Average mortgage: $460

7. Atlanta    Median list price: $159,600, Average two-bedroom rent: $1,236, Average mortgage: $650

Source: Move.com; REALTOR® Magazine Daily News; Blog distribution provided by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

August 16, 2011 Posted by | Nashville, real estate, relocation | , , , , , , , , , , , | Leave a Comment

Nashville is Among Top Cities That Boast the ‘Best Value’

Which cities offer the best value? Kiplinger’s Personal Finance magazine recently ranked metro areas by best “value,” factoring in low cost of living, strong economies, and personal amenities.

The following are the six metro areas that topped its list, including each city’s unemployment rate, median household income, and cost-of-living index (the index is based on the national average of 100; cities with a score below 100 have a lower cost-of-living). To see the other factors that weighed Kiplinger’s decisions for the top 6 and to view the full list, visit the Kiplinger Web site.

1. Omaha, Nebraska
Unemployment rate: 4.6%
Cost-of-living index: 90.3
Median household income: $53,457

2. Charlotte, North Carolina
Unemployment rate: 10.4%
Cost of living index: 93
Median household income: $53,168

3. Nashville, Tennessee
Unemployment rate: 8.5%
Cost of living index: 90.7
Median household income: $51,352

4. Colorado Springs, Colorado
Unemployment rate: 9.3%
Cost-of-living index: 92.0
Median household income: $56,576

5. Knoxville, Tennessee
Unemployment rate: 7.7%
Cost-of-living index: 89.7
Median household income: $45,727

6. Lexington, Kentucky
Unemployment rate: 7.8%
Cost-of-living index: 89.1
Median household income: $48,158

Source: “10 Best Value Cities for 2011,” Kiplinger’s Personal Finance (July 2011); Daily Real Estate News (July 26, 2011); Blog distribution provided by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

July 27, 2011 Posted by | economy, Nashville, relocation | , , , , , , , , , , , , , , , , , , , , , , , , , | 2 Comments

Nashville Ranks One of the Best Places for Business 2011

To find cities with the most jobs and lower costs of doing business, you’ll have to venture to the heartland, according to Forbes’ 13th annual Best Places of Business list. Eighty percent of the top 25 regions on Forbes’ list this year are from the center of the United States.

Forbes’ rankings evaluate 200 metro areas, factoring in job growth (past and projected), costs (business and living), income growth, projected economic growth, and educational attainment.

Demographer Bert Sperling says the heartland’s success is largely due to its “extractive industries,” such as oil, gas, and mining and record-high crop prices that have added jobs.

“These economies run in cycles, and these booms and busts are often decades in the making,” Sterling says.

Many of the cities topping the list also boast at least one strong university and strong entrepreneurial activity.

Here are the top six cities to make Forbes’ list:

Raleigh, North Carolina
Des Moines, Iowa
Provo, Utah
Lexington, Kentucky
Fort Collins, Colorado
Nashville, Tennessee

Source: “Raleigh Tops Forbes’ Best Places for Business 2011,” Forbes.com (July 11, 2011); Realtor Magazine; Blog distribution provided by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

July 12, 2011 Posted by | economy, environment, Nashville, relocation, surveys, tennessee | , , , , , , , , , , , , , | Leave a Comment

2011 Home Sales Begin with Increase in the Greater Nashville Area

NASHVILLE, Tenn. (Feb. 9, 2011) –     There were 1,101 home closings reported for the month of January, according to figures provided by the Greater Nashville Association of REALTORS®.  This figure is up 6.6 percent from the 1,033 closings reported for the same period last year.    

“The new year has brought positive news for home sales in the Greater Nashville area,” said GNAR President Alice Walker. “This data is especially encouraging because the data from last year were supported by the tax credit for first-time home buyers. Also, having this increase at a time when winter weather has been so challenging in Middle Tennessee makes the improvement even more significant. The January data is another example of positive economic news from this region as well as from across the country, which may signal the beginning of a broader overall recovery.”  Read complete news release…

Source:  GNAR, Greater Nashville Association of Realtors; Blog distribution provided by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee

February 9, 2011 Posted by | relocation | , , , , , , , , , , , | 1 Comment

Williamson County Ranks 3rd Nationally for Future Job Growth

Tennessee’s Williamson County ranks third in the nation when it comes to job growth. 

According to Washington research firm Woods and Poole Economics Inc., Williamson County is expected to see growth of more than 3% in employment through 2040 compared the rest of the country which will see just over a 1% growth. 

“I think the fact there are 3,000 counties in America, the fact that we are number three speaks volumes for the leadership in Williamson County,” Matt Largen, Williamson County Economic Development Director, told Nashville’s News 2. 

He continued, “In today’s world, you want to have two things to have a successful economy, innovators and decision makers, and Williamson County has both of those and both of those kinds of people have built this economy over the last decade.” 

The county’s proximity to Nashville is an added bonus and so is its access to Interstate 65. 

The quality of life issue also factors in, according to Largen. 

“There’s the school system, great place to raise your family, great amenities, high end retail, corporate housing, all different sorts of housing, so I think all those things play a part in the puzzle that is Williamson County,” he said. 

According to the research, Williamson County will add more than 170,000 jobs over the next 30 years, a figure that is promising to both residents and businesses alike. 

Teresa Ofman opened LuLu, a home decor and gift boutique, in downtown Franklin two years and choosing a location was never a question. 

“The downtown location is the best.  Lots of tourists, tons of tourists,” Ofman told Nashville’s News 2.  “I have lived in Williamson County for 25 years.  I love it.  I shop here.  I live here.  I raised my son here.” 

Ofman believes Williamson County is appealing for many reasons. 

“We are very family oriented,” she said.  “There [are] a lot of local events all through the year for families and children.  I feel very safe here.  It’s just small town living.” 

County leaders believe most of the job growth will be in the healthcare and information technology fields. 

They also expect to see more corporate headquarters relocating to Williamson County and more people opening small businesses in the future. 

Ahead of Williamson County on the list are Loudoun County in Virginia and Douglas County in Colorado.

 

RELATED LINK: Nashville Area Links of Interest; Life is Good! Things to Do!

Source: 013111, WKRN, Woods and Poole Economics Inc. (www.woodsandpoole.com); blog distribution provided by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee

February 1, 2011 Posted by | economy, relocation, tennessee | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment

Overpriced, Underpriced Housing Markets

What are the most overvalued and undervalued housing markets in the country? The Local Market Monitor recently released a list for investors analyzing buying conditions for real estate markets in the United States. 

Overall, Las Vegas was a city they flagged as the worst — or “frankly dangerous,” as they referred to it. They said the city is not only one of the most undervalued housing markets in the country but is also considered one of the worst housing buys. Orlando, Fla., was another city the Local Market Monitor considered a bad investment city. 

Las Vegas’ median home price is less than $145,000–a drop of more than half in its median home price since its housing peak days. The Local Market Monitor says Las Vegas is also nearly 30 percent less than what would be considered fair market value. Both Las Vegas and Orlando have been plagued with high inventories of homes due to overbuilding from a few years ago, and also are two of the hardest hit areas for foreclosures. 

Here’s a list of the most overpriced housing markets and the percentage they are overvalued by, according to the report: 

  1. Nassau-Suffolk, N.Y.: 26% ($418,416 median home price)
  2. Los Angeles: 24% ($368,056 median home price)
  3. Portland, Ore.: 24% ($240,912 median home price)
  4. Anaheim, Calif.: 23% ($449,396 median home price)
  5. Edison, N.J.: 20% ($286,900 median home price)

Here is a list of the top 5 most undervalued markets: 

  1. Las Vegas: -27% ($144,636 median home price)
  2. Akron, Ohio: -22% ($155,673 median home price)
  3. Cleveland: -21% ($154,674 median home price)
  4. Warren, Mich.: -21% ($111,114 median home price)
  5. McAllenn, Texas: -20% ($131,871 median home price)

View a complete list of overvalued and undervalued cities.

Source: “America’s Most Overvalued – and Undervalued – Cities,” CNNMoney.com (Jan. 10, 2011); blog distribution provided by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee

January 12, 2011 Posted by | economy, real estate, relocation | , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment

10 States Losing the Most Residents

Using data from Moody’s Economy.com, Forbes identified the top-10 states where more residents are leaving than arriving. 

The factors that encourage outbound migration from these states are mostly economic — high employment and high cost of living — although both Louisiana and Mississippi have been affected by natural disasters. 

The 10 states that have said goodbye to the most residents are: 

  1. New York
  2. Illinois
  3. Ohio
  4. Nebraska
  5. Kansas
  6. Iowa
  7. Louisiana
  8. North Dakota
  9. South Dakota
  10. Mississippi

Source: Forbes, Jenna Goudreau (12/08/2010); blog distribution provided Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee

December 17, 2010 Posted by | economy, real estate, relocation | , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment

Purchase Applications Rose for Third Week (120810)

Applications for mortgages to purchase homes rose 1.8 percent last week compared to the previous week on a seasonally adjusted basis. On an unadjusted basis, purchase applications rose 21.3 percent compared to the previous week, which included Thanksgiving. Applications were up 12 percent compared to the same week a year ago. 

This is the third week that applications to purchase homes have increased, reaching the highest level since early May. 

The average contract interest rate for 30-year fixed-rate mortgages increased to 4.66 percent from 4.56 percent, while 15-year fixed-rate mortgages increased to 3.98 percent from 3.91 percent. 

Source: Mortgage Bankers Association (12/08/2010; blog distribution provided by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee.

December 8, 2010 Posted by | relocation | , , , , , , , , , , , , | Leave a Comment

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