KENNETH BARGERS | In The News

Realtor, Tennis Player, Titans & Vols Fan, Nashvillian… Live! Work! Play! in Middle Tennessee

Archive for the ‘economy’ Category

December Home Sales Best in Nearly a Decade for Greater Nashville

leave a comment »

December Home Sales Best in Nearly a Decade for Greater Nashville
Press Release by Greater Nashville Association of REALTORS® | January 7, 2016

GNAR-225x100NASHVILLE, Tenn. (Jan. 7, 2016) – There were 3,194 closings during the month of December, according to figures provided by the Greater Nashville Association of REALTORS®. This is a 12.5 percent increase from the 2,838 closings reported for the same period in 2014.

Fourth quarter closings are 8,621 for Greater Nashville. That total is a 3.5 percent increase from the 8,327 closings during the fourth quarter of 2014.

Final numbers for 2015 show there were 36,873 homes sold in the region. Compared to the 33,269 closings in 2014, the final closing numbers are up 10.8 percent.

“December proved to be a strong month for home sales in the Nashville area. This marks the strongest December home sales our area has experienced since closing 3,109 units in 2006,” said GNAR President Denise Creswell. “The number of pending sales is a good indicator for January. This is also the highest number of pending units, over 2,600, we have seen since 2006.”

“It has been nearly a decade since our real estate market has seen this much activity and positive growth,” said Creswell. “We ended 2015 with 36,873 units closed. Again, that’s the most annual closings we have had since 2006. Staying on a sustainable growth track, coupled with continued good reports on the economy and job market should make this year another successful and favorable one for both current and potential homeowners.”

There were 2,678 sales pending at the end of December, compared with 2,458 pending sales at this time last year. The average number of days on the market for a single-family home was 61 days.

The median price for both residential properties and condominiums increased during December. For a single-family home it was $242,945, and for a condominium it was $194,183. This compares with last year’s median residential and condominium prices of $213,500 and $172,999, respectively.

Inventory at the end of December was 10,846, down from 12,093 in December 2014.

“Many of the factors necessary for healthy real estate markets are set to continue in 2016, including consumer confidence in both the economy and homeownership,” said Creswell. “For those desiring to get the most out of a purchase or sale this year, now is the time to make that move. Getting ahead of the spring rush gives buyers and sellers a definite inventory advantage. There are many equipped Realtors in Middle Tennessee ready to assist you with your real estate transactions this year.”

### 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 010716

Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office kb@bargers-solutions.com email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address

Need a home? visit Search for Properties
Do you need marketing assistance for special projects or contract assignments? visit the Marketing page of Bargers Solutions

Advertisements

Is it an End to Mortgage Rates Under 4%?

leave a comment »

Is it an End to Mortgage Rates Under 4%?
Article by Daily Real Estate News | January 04, 2016

FreddieMac-LogoThe 30-year fixed-rate mortgage finished out 2015 breaking above the 4 percent mark. It was the first time in five months the rate edged above 4 percent.

“In the final week of 2015, Treasury yields jumped reacting in part to strong consumer confidence in December,” says Sean Becketti, Freddie Mac’s chief economist. “In response, the 30-year mortgage rate rose 5 basis points to 4.01 percent, ending a five-month span below 4 percent. After averaging 3.9 percent in the fourth quarter of 2015, we expect the 30-year mortgage rate to average 4.7 percent for the fourth quarter of 2016.”

Freddie Mac reported the following national averages with mortgage rates for the week ending Dec. 31, 2015:

  • 30-year fixed-rate mortgages: averaged 4.01 percent, with an average 0.6 point, rising from the previous week’s 3.96 percent average. A year ago, 30-year rates averaged 3.87 percent.
  • 15-year fixed-rate mortgages: averaged 3.24 percent, with an average 0.6 point, increasing from 3.22 percent the previous week. A year ago at this time, 15-year rates averaged 3.15 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgages: averaged 3.08 percent, with an average 0.4 point, up from 3.06 percent the previous week. Last year at this time, 5-year ARMs averaged 3.01 percent.
  • 1-year ARMs: averaged 2.68 percent, with an average 0.2 point, holding the same as last week. A year ago, 1-year ARMs averaged 2.40 percent.

Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 010416

Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office kb@bargers-solutions.com email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address

Need a home? visit Search for Properties
Do you need marketing assistance for special projects or contract assignments? visit the Marketing page of Bargers Solutions

Housing Outlook for 2016: Expect Change

leave a comment »

Housing Outlook for 2016: Expect Change
Article by Daily Real Estate News | December 28, 2015

Treed-Home-LotWhile change is coming to the mortgage market, Freddie Mac says in its 2016 housing forecast that it’s too soon to tell whether marketplace lending is the next Uber or just another flash in the pan.

“The current generation of marketplace lenders all may fail in the next economic downturn,” says Sean Becketti, Freddie Mac’s chief economist. “Regulators may impose higher standards on marketplace lenders. The cost advantages of marketplace lending may not extend to mortgage lending.”

But Becketti says the new year will undoubtedly bring changes: “Innovation is difficult to stop. New startups will look for ways to improve upon current marketplace lending business models. Large bank lenders may incorporate the most successful of the marketplace lending innovations. It’s difficult to say where all this will lead, but one prediction is indisputable. Expect change.”

Here are five more predictions for 2016 from the mortgage giant:

  1. The 30-year fixed-rate mortgage will likely average below 4.5 percent for 2016 on an annualized basis.
  2. Mortgage rates will gradually move higher posing an affordability challenge. But expect a strengthening labor market and pent-up demand to carry momentum into 2016.
  3. Home prices will likely moderate slightly to 4.4 percent in 2016, driven in part by the reduction in home buyer affordability and reduced demand as a result of Fed tightening.
  4. But industry activity will grow in 2016 despite monetary tightening. Expect total housing starts to increase 16 percent year-over-year and total home sales to increase 3 percent.
  5. While home purchases will increase next year, higher interest rates will reduce the refinance volume pushing overall mortgage originations lower in 2016 than in 2015.

Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 122815

Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office kb@bargers-solutions.com email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address

Need a home? visit Search for Properties
Do you need marketing assistance for special projects or contract assignments? visit the Marketing page of Bargers Solutions

Mortgage Rates Move Higher

leave a comment »

Mortgage Rates Move Higher
Article by Freddie Mac | December 17, 2015

FreddieMac-LogoMCLEAN, VA–(Marketwired – Dec 17, 2015) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates ticking slightly higher for the second week in a row amid the Federal Reserve’s decision to raise short-term interest rates for the first time since 2006.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.97 percent with an average 0.6 point for the week ending December 17, 2015, up from last week when it averaged 3.95 percent. A year ago at this time, the 30-year FRM averaged 3.80 percent.
  • 15-year FRM this week averaged 3.22 percent with an average 0.5 point, up from last week when it averaged 3.19 percent. A year ago at this time, the 15-year FRM averaged 3.09 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.03 percent this week with an average 0.4 point, unchanged from last week. A year ago, the 5-year ARM averaged 2.95 percent.
  • 1-year Treasury-indexed ARM averaged 2.67 percent this week with an average 0.2 point, up from 2.64 percent last week. At this time last year, the 1-year ARM averaged 2.38 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

As of January 1, 2016, the PMMS will no longer provide results for the 1-year ARM. Additionally, the regional breakouts will not be provided for the 30-year and 15-year fixed rate mortgages, and the
5/1 Hybrid ARM.

Quote Attributed to Sean Becketti, chief economist, Freddie Mac.
“As was almost-universally expected, the Federal Open Market Committee (FOMC) of the Federal Reserve elected this week to raise short-term interest rates for the first time since 2006. We take the Fed at its word that monetary tightening in 2016 will be gradual, and we expect only a modest increase in longer-term rates. Mortgage rates will tick higher but remain at historically low levels in 2016. Home sales will remain strong, but refinance activity should cool somewhat. Novel policy approaches such as quantitative easing injected significant liquidity in the economy over the past seven years. As a result, the Fed is forced to employ some new tools, such as reverse repos, as it tightens monetary policy. We are likely to see some short-term volatility in fixed-income markets as market participants adjust to these new tools.”

### Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog. ###

Source: Freddie Mac 121715

Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office kb@bargers-solutions.com email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address

Need a home? visit Search for Properties
Do you need marketing assistance for special projects or contract assignments? visit the Marketing page of Bargers Solutions

Nationally: What’s Behind the Drop in Sales Contracts?

leave a comment »

Nationally: What’s Behind the Drop in Sales Contracts?
Article by Daily Real Estate News | October 29, 2015

HouseForSalePending home sales lost more ground in September, reaching the second lowest level of the year, according to the National Association of REALTORS®’ Pending Home Sales Index, a forward-looking indicator based on contract signings. Pending home sales dropped 2.3 percent month-over-month in September as all four of the major U.S. regions saw a decrease in contract activity.

Lawrence Yun, NAR’s chief economist, says several factors are contributing to September’s cool off in contract signings.

“There continues to be a dearth of available listings in the lower end of the market for first-time buyers, and REALTORS® in many areas are reporting stronger competition than what’s normal this time of year because of stubbornly low inventory conditions,” he says. “Additionally, the rockiness in the financial markets at the end of the summer and signs of a slowing U.S. economy may be causing some prospective buyers to take a wait-and-see approach.”

While pending home sales were down in September, they still remain 3 percent above last year’s levels. Yun says he’s confident the housing market will prove itself as one of the brighter spots of a more-sluggish economy in the coming months.

“With interest rates hovering around 4 percent, rents rising at a near eight-year high, and job growth holding strong – albeit at a more modest pace than earlier this year – the overall demand for buying should stay at a healthy level despite some weakness in the overall economy,” Yun says.

Here’s a closer look at how pending home sales fared in September across the country:

  • Northeast: pending home sales dropped 4 percent compared to last month but are 3.9 percent above year ago levels.
  • Midwest: pending home sales declined 2.5 percent month-over-month but are 4.3 percent higher than year ago levels.
  • South: pending home sales fell 2.6 percent and are just 0.1 percent below last September’s levels. (Greater Nashville Area remains strong!)
  • West: pending home sales fell slightly by 0.2 percent month-over-month but are 6.6 percent above year ago levels.

Source: National Association of REALTORS®; REALTOR® Magazine Online, Daily Real Estate News 102915

Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office kb@bargers-solutions.com email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address

Need a home? visit Search for Properties
Do you need marketing assistance for special projects or contract assignments? visit the Marketing page of Bargers Solutions

U.S. Housing Markets Continue to Stabilize

leave a comment »

U.S. Housing Markets Continue to Stabilize
Best Annual Improvement Since 2005
Article by Freddie Mac | September 23, 2015

FreddieMac-LogoMCLEAN, VA–(Marketwired – Sep 23, 2015) – Freddie Mac (OTCQB: FMCC) today released its updated Multi-Indicator Market Index® (MiMi®) showing the U.S. housing market continuing to slowly stabilize with one additional state, Rhode Island, and four additional metro areas entering their outer range of stable housing activity: Philadelphia and Harrisburg, Pennsylvania; Phoenix, Arizona; and Albany, New York.

The national MiMi value stands at 81, indicating a housing market that is on its outer range of stable housing activity, while showing an improvement of +0.93% from June to July and a three-month improvement of +2.99%. On a year-over-year basis, the national MiMi value has improved +6.17%. Since its all-time low in October 2010, the national MiMi has rebounded 37%, but remains significantly off from its high of 121.7.

News Facts:

  • Twenty-nine of the 50 states plus the District of Columbia have MiMi values in a stable range, with the District of Columbia (103), North Dakota (97), Montana (93.7), Hawaii (93.5), and California and Utah tied at (90) and ranking in the top five.
  • Forty-six of the 100 metro areas have MiMi values in a stable range, with Fresno (98.9), Austin (96.4), Honolulu (94.1), and Salt Lake City and Los Angeles tied at (92.9) and ranking in the top five.
  • The most improving states month-over-month were Florida (+2.00%), Colorado (+1.99%), New Jersey (+1.83%), Connecticut (+1.80%) and Nevada (+1.48%). On a year-over-year basis, the most improving states were Florida (+14.35%), Oregon (+13.45%), Nevada (12.18%), Colorado (+11.65%), and Washington (+10.18%).
  • The most improving metro areas month-over-month were Orlando, FL (+2.60%), Greenville, SC (+2.55%), Cape Coral, FL (+2.51%), Tampa, FL (+2.19%) and Jacksonville, FL (+2.12%). On a year-over-year basis, the most improving metro areas were Orlando, FL (+18.27%), Cape Coral, FL (+17.75%), Tampa, FL (+15.99%), Palm Bay, FL (+14.98%) and North Port, FL (+14.77%).
  • In July, 49 of the 50 states and all of the top 100 metros were showing an improving three month trend. The same time last year, 20 of the 50 states plus the District of Columbia, and 59 of the top 100 metro areas were showing an improving three-month trend.

Quote attributable to Freddie Mac Deputy Chief Economist Len Kiefer:
“Nationally, all MiMi indicators are heading in the right direction for the second consecutive month and improving more than 6 percent from the same time last year. Florida has some of the most improving housing markets in the country, largely a reflection of more borrowers becoming current on their mortgage payments as the local employment picture improves and house prices rebound. The one area of the country that has been slow to respond has been the Northeast. However, we’ve started to see these housing markets turn around, especially in Pennsylvania, Connecticut, New Hampshire, Vermont and Maine. While many of the locals markets in the Northeast are still weak, they’re steadily trending in the right direction and their pace of improvement is accelerating. Overall, the West remains especially strong, with many markets posting double-digit growth in their MiMi purchase applications indicator compared to a year ago and helping to keep the country on pace for the best year of home sales since 2007.”

The 2015 MiMi release calendar is available online.

MiMi monitors and measures the stability of the nation’s housing market, as well as the housing markets of all 50 states, the District of Columbia, and the top 100 metro markets. MiMi combines proprietary Freddie Mac data with current local market data to assess where each single-family housing market is relative to its own long-term stable range by looking at home purchase applications, payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income), proportion of on-time mortgage payments in each market, and the local employment picture. The four indicators are combined to create a composite MiMi value for each market. Monthly, MiMi uses this data to show, at a glance, where each market stands relative to its own stable range of housing activity. MiMi also indicates how each market is trending, whether it is moving closer to, or further away from, its stable range. A market can fall outside its stable range by being too weak to generate enough demand for a well-balanced housing market or by overheating to an unsustainable level of activity.

For more detail on MiMi see the FAQs. The most current version can be found at FreddieMac.com/mimi.

### Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for approximately one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog. ###

Source: Freddie Mac News Release 092315

Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office kb@bargers-solutions.com email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address

Need a home? visit Search for Properties
Do you need marketing assistance for special projects or contract assignments? visit the Marketing page of Bargers Solutions

30-Year Fixed-Rate Mortgage Remains Below Four Percent

leave a comment »

30-Year Fixed-Rate Mortgage Remains Below Four Percent
Article by Freddie Mac | August 20, 2015

FreddieMac-LogoMCLEAN, VA–(Marketwired – Aug 20, 2015) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates largely unchanged from the previous week amid little movement in financial markets. The 30-year fixed rate mortgage has averaged below four percent for the fifth consecutive week.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.93 percent with an average 0.6 point for the week ending August 20, 2015, down from last week when it averaged 3.94 percent. A year ago at this time, the 30-year FRM averaged 4.10 percent.
  • 15-year FRM this week averaged 3.15 percent with an average 0.6 point, down from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 3.23 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.94 percent this week with an average 0.5 point, up from last week when it averaged 2.93 percent. A year ago, the 5-year ARM averaged 2.95 percent.
  • 1-year Treasury-indexed ARM averaged 2.62 percent this week with an average 0.3 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.38 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote  Attributed to Sean Becketti, chief economist, Freddie Mac.
“There was little movement in financial markets this week as the 30-year fixed mortgage rate remained steady, dropping only 1 basis point to 3.93 percent. Overall inflation [PDF] grew an underwhelming 0.2 percent year-over-year in July, but core inflation remains steady at 1.8 percent keeping chances alive for a potential rate hike in September. Housing markets have responded positively to low mortgage rates — the 30-year fixed mortgage rate has been below four percent for five consecutive weeks. The latest NAHB/Wells Fargo Housing Market Index for August 2015 was 61, the highest level in more than nine years. One-unit housing starts [PDF] in July 2015 jumped to 782,000 units, up 12.8 percent from June and up 19 percent from last year. Overall housing markets remain on track for the best year since 2007.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

Source: Freddie Mac 082115

Bargers-Signature-Block

Hiaco

Ad, Sales & Marketing.

Rachel Being Chatty

Now featuring 15% more sarcasm.

MovieBabble

The Casual Way to Discuss Movies

The Ninth Life

It's time to be inspired, become encouraged, and get uplifted!

MovieBabble

The Casual Way to Discuss Movies

The Shameful Sheep

shit storms, shame, and stories that make you cringe

Autoindigo Blog

Fresh news about automotive world. Cars overviews written by experts, pros and cons, features, performance, safety, interior and driving.

Little Fears

Tales of whimsy, humour and courgettes

www.virtual-reality-shop.co.uk/

VR, AR, 3D and Video Glasses Reviews

Woodstock Business Welcome

Welcome Wagon Canada

Blookup Blog

Turn and print all your digital contents, blogs and social networks into amazing real paper books on blookup.com

nalinidesignprofile

Graphic Designer

Sableyes

Sabbles woz 'ere

518-songofmypeople

A town everyone hates, yet no one leaves...

Attila Ovari

Loving Life and Inspiring Others

Augusta Littleton

Nonprofits and Charities

The Home Buyer Class Blog

What to know when buying a home

The Contractor's Cabinet

A Blog On Construction & More

Gamintraveler

Love, Travel Lifestyle and Destinations

kelzbelzphotography

My journey - The good, bad and the ugly

antryump

"A Blog worth reading "

john pavlovitz

Stuff That Needs To Be Said

Smart Discount Shop

Discover all the creative and ingenious ways to save money !

playwithlifeorg

4 out of 5 dentists recommend this WordPress.com site

ultimatemindsettoday

A great WordPress.com site

Vonj Productions

Bringing you love through spirit!

The Dystopian Nation of City-State

A cruel, futuristic vision created by science fiction authors James Courtney and Kaisy Wilkerson-Mills. ©2013-2016. All Rights Reserved. All writings available through Amazon.

Bubba Pigg

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

@TheTexasBroker Blog

Real Estate Sales Houston Texas

The Travelling Pantry

Adventurous, Honest and Wholesome

Top 10 of Anything and Everything!!!

Animals, Gift Ideas, Travel, Books, Recycling Ideas and Many, Many More

meganelizabethmorales

MANNERS MAKETH MAN, LOST BOYS FAN & PERPETAUL CREATIVITY.

William the butler

Serving drinks since 1985

lauraagudelo272

This WordPress.com 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, Known Moron

Natalie Breuer

Natalie. Writer. Photographer. Etc.

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

%d bloggers like this: