KENNETH BARGERS | In The News

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

Mortgage Rates Ease This Week

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Mortgage Rates Ease This Week
Freddie Mac   article by Daily Real Estate News | October 20, 2017

rates102017

Borrowers may be able to lock in lower interest rates this week, as the 30-year fixed-rate mortgage dips to a 3.88 percent average.

“Rates came down slightly this week, ending a brief two-week streak of increases,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield dipped 6 basis points, while the 30-year fixed mortgage rate fell 3 basis points to 3.88 percent.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 19:

  • 30-year fixed-rate mortgages: averaged 3.88 percent, with an average 0.5 point, falling from last week’s 3.91 percent average. Last year at this time, 30-year rates averaged 3.52 percent.
  • 15-year fixed-rate mortgages: averaged 3.19 percent, with an average 0.5 point, dropping from last week’s 3.21 percent average. A year ago, 15-year rates averaged 2.79 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.17 percent, with an average 0.4 point, rising from last week’s 3.16 percent average. A year ago, 5-year ARMs averaged 2.85 percent.

Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 102017


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

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Written by Kenneth Bargers

October 20, 2017 at 8:22 pm

Stunning Normandy Lake Luxury Home

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207Thoma WP675w


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

Written by Kenneth Bargers

October 15, 2017 at 6:33 pm

Greater Nashville: Region’s Housing Market on Pace for Record Year in Sales

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Greater Nashville: Region’s Housing Market on Pace for Record Year in Sales
Press Release by Greater Nashville REALTORS® | October 9, 2017

House 1023NASHVILLE, Tenn. (Oct. 9, 2017) – There were 3,544 closings reported for the month of September, according to figures provided by Greater Nashville REALTORS®. This represents an increase of 2.0 percent over the 3,474 closings reported for September 2016.

Third quarter numbers experienced a 3.5 percent increase from 2016 with 11,299 closings reported, compared to last year’s third quarter closings of 10,920.

Year-to-date closings for the Greater Nashville area are 30,792. That total is up 4.8 percent from the 29,372 closings reported through the third quarter of 2016.

“For a month where home sales begin to slow, this past September turned out to be remarkable for our region. Middle Tennessee achieved the best performing month of September that we have on record,” said Greater Nashville REALTORS® President, Scott Troxel. “Yes, overall home sales are slowing down, as is typical for this time of year. But, the September success sends a strong message about the importance and attractiveness of homeownership.”

There were 3,292 properties under contract at the end of the month, compared to the 3,234 properties under contract at this time last year. The average number of days on the market for a single-family home was 27 days.

The median residential price for a single-family home during September was $280,000 and for a condominium, it was $223,450. This compares with last year’s median residential and condominium prices of $256,900 and $188,495, respectively.

Active inventory at the end of September was 9,358, down from 10,350 in 2017.

“Sales are up incrementally for both the quarter and year-to-date compared to last year, keeping us on track to the best housing market we’ve ever had,” said Troxel. “That said, we have to work to keep our market healthy and an attractive place to live. Greater Nashville REALTORS® is actively working with the Transit for Nashville Coalition to help bring solutions to our congestion and traffic woes, problems that can cause current and future residents to choose elsewhere to call home. Nationally, the National Association of REALTORS® is closely monitoring proposed changes to the tax plan to ensure homeowners aren’t hurt in the process.”

Source: Greater Nashville REALTORS®, Press Release 100917


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

Porches Are Making a Comeback

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Porches Are Making a Comeback
National Association of Home Builders article by Daily Real Estate News | October 6, 2017

More new homes are coming equipped with front porches. Sixty-five percent of new single-family homes started in 2016 included a porch, according to a Census data analysis from the National Association of Home Builders. It’s only the second time since tracking began that new single-family homes with porches have moved back above 65 percent. For comparison, in 2005, 54 percent of new homes had porches.

Certain regions of the U.S. are showing higher preference for porches. For example, the East-South-Central region of the U.S. had the highest share of new homes started in 2016 with porches at 86 percent.

Front porches_NAHB

The Census data from the Survey of Construction report does not indicate much information about the look of the porches. However, the NAHB reports that the Annual Builder Practices Survey, conducted by Home Innovation Research Labs, shows that front porches on new homes tend to be more common than side porches. Also, most new home porches are open rather than screened.

The average size of a front porch on a new home is about 60 square feet, according to the report. The materials used often tend to be concrete and treated wood. However, some regions—like the Mountain and Pacific areas of the U.S.—tend to favor redwood over treated wood for their front porches.

Source: “Share of New Homes With Porches Back Over 65 Percent,” National Association of Home Builders’ Eye on Housing blog (Oct. 5, 2017); REALTOR® Magazine Online, Daily Real Estate News 100617


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

Mortgage Rates Hit Highest Levels in 6 Weeks

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Mortgage Rates Hit Highest Levels in 6 Weeks
Freddie Mac   article by Daily Real Estate News | October 6, 2017

The 30-year fixed-rate mortgage inched upwards this week, averaging 3.85 percent. It’s the highest average in six weeks, Freddie Mac reports.

rates100617

“After holding steady last week, rates ticked up this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield rose 8 basis points, while the 30-year mortgage rate increased 2 basis points to 3.85 percent.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 5:

  • 30-year fixed-rate mortgages: averaged 3.85 percent, with an average 0.5 point, rising from last week’s 3.83 percent average. Last year at this time, 30-year rates averaged 3.42 percent.
  • 15-year fixed-rate mortgages: averaged 3.15 percent, with an average 0.5 point, rising from last week’s 3.13 percent. A year ago, 15-year rates averaged 2.72 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.18 percent, with an average 0.4 point, falling from last week’s 3.20 percent average. A year ago, 5-year ARMs averaged 2.80 percent.

Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 100617


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

Home Lot Sizes Shrink to New Low

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Home Lot Sizes Shrink to New Low
National Association of Home Builders    article by Daily Real Estate News | October 5, 2017

Lot sizes on new single-family homes have reached a new record low. New homes sold in 2016 had a median lot size of 8,562 square feet, or slightly under one-fifth of an acre.

The median lot size fell to under 8,600 square feet in 2015, according to the Census Bureau’s Survey of Construction data. Lot sizes have continued to shrink since then.

Location plays a big role. For example, the median lot size in the New England region is nearly twice as large as the national median, exceeding a third of an acre.

“New England is known for its strict local zoning regulations that often require very low densities,” the National Association of Home Builders notes on its Eye on Housing blog. “Therefore, it is not surprising that more than half of single-family spec homes started in New England are built on some of the largest lots in the nation, with more than half of the lots exceeding a third of an acre.”

On the other hand, the Pacific region—where densities are often high and developed land is more scarce—has the smallest lots. Half of the lots in the region are under 0.15 acres.

NAHB graphic_lot sizes

Source: “Lot Size Is at a Record Low,” National Association of Home Builders’ Eye on Housing blog (Oct. 3, 2017); REALTOR® Magazine Online, Daily Real Estate News 100317


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

October is great month to review your home’s fire and life safety

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October 2017 – Fire and Life Safety

SmokeAlarm2Test Your Smoke Detectors
The leaves are changing and the weather is cooling down! It’s October, and it’s time for bonfires, fireplaces, and heaters to start taking center stage. Make sure your home is prepared for a fire-safe fall. By testing your smoke alarms, Tennesseans will be better protected from home fires. Read More 

 

CarbonMonoxide2The Silent Killer
Carbon monoxide (CO) is a gas that can kill you quickly. It is called the “silent killer” because it is colorless, odorless, tasteless and non- irritating. If the early signs of CO poisoning are ignored, a person may lose consciousness and be unable to escape the danger. Test your CO detector! Read More

 

FireEscapePlan2Fire Escape Plan
Your ability to get out depends on advance warning from smoke alarms and advance planning. Fire can spread rapidly through your home, leaving you as little as one or two minutes to escape safely once the alarm sounds. Read more

 

 


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

Written by Kenneth Bargers

October 2, 2017 at 8:14 pm

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