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

Earth Day 2017… respect our planet

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Written by Kenneth Bargers

April 22, 2017 at 8:04 am

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The 10 Crowning Markets of the Spring Season

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The 10 Crowning Markets of the Spring Season
Article by Daily Real Estate News | April 18, 2017

Which housing markets are emerging as top performers this spring season? Ten X, an online real estate marketplace vendor, factored in pricing, sales, affordability, permit activity, economic and demographic growth, and forward-looking data such as economic and population forecasts, to come up with a list of housing market champs for this spring.

They are listed below, along with year-over-year changes in seasonally adjusted median prices and sales of existing homes:

  1. Tampa, Florida
    Home prices: +13.12%
    Home sales: +7.31%
  2. Dallas, Texas
    Home prices: +10.64%
    Home sales: +2.94%
  3. Columbus, Ohio
    Home prices: +9.60%
    Home sales: +6.62%
  4. Las Vegas, Nevada
    Home prices: +9.67%
    Home sales: +11.37%
  5. Jacksonville, Florida
    Home prices: +11.86%
    Home sales: +7.27%
  6. Nashville, Tennessee
    Home prices: +9.08%
    Home sales: +10.63%
  7. Raleigh, North Carolina
    Home prices: +8.56%
    Home sales: +7.95%
  8. Orlando, Florida
    Home prices: +7.31%
    Home sales: 7.95%
  9. Portland, Oregon
    Home prices: +11.12%
    Home sales: 9.29%
  10. Salt Lake City, Utah
    Home prices: +8.62%
    Home sales: +11.10%

Source: “The 15 Hottest Housing Markets of Spring ’17,” National Mortgage News (April 17, 2017); REALTOR® Magazine Online, Daily Real Estate News 041817

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
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(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

What Really Makes a Property Appreciate

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What Really Makes a Property Appreciate
realtor.com | April 18, 2017

Patio 500wA home’s value generally appreciates 3 percent to 4 percent every year, which is attributed mostly to population growth and inflation. However in 2016, homeowners saw appreciation jump to an average of 6.3 percent.

Realtor.com®’s research team sought to find out what would boost a home’s value even more and what home features buyers may be willing to pay more for. Researchers analyzed millions of listings on realtor.com® from 2011 to 2016 to calculate the annual price growth rate of homes with certain features.

Here are some of the clear winners in housing appreciation:

Publication1Small homes: Homes smaller than 1,200 square feet appreciated by an average rate of 7.5 percent a year for the past five years. On the other hand, larger homes of 2,400 square feet or more rose by 3.8 percent a year. The smaller-home demand is being driven by millennials wanting to enter the market with a more affordable starter home and baby boomers who are looking to downsize, realtor.com® notes. Further, smaller homes are in shorter supply, which is prompting prices to increase more due to the high demand, says Jonathan Miller, president of Miller Samuel, a real estate appraisal firm.

Two-bedroom homes: Homes with two bedrooms appreciate at a rate of 6.6 percent a year, compared to homes with five bedrooms that appreciate at 4.3 percent a year, realtor.com®’s research team found.

Open floor plans: Homes with open floor plans appreciate 7.4 percent a year. It’s the hottest appreciating home feature that realtor.com® studied (see side for full list). As for features like stainless steel and granite, Miller says those amenities don’t really add any value to a home. “Those are what I call ‘have-to-have’ features,” Miller says. “A home needs to have them in a competitive market. But they don’t add long-term value. … Ten years from now, when you update your kitchen, they’ll be replaced.”

Modern and contemporary homes: Modern and contemporary architectural styles have the highest potential for appreciation, increasing at about 7.7 percent annually. This style of home is known for simple, geometric shapes, and large windows. Newly constructed modern homes also tend to be energy efficient. Bungalows and Traditional are the next highest appreciating styles at 6.5 percent and 5.6 percent, respectively. Meanwhile, niche styles like Craftsman bungalows and Victorians are among the lowest appreciating architectural styles, at 3.7 percent and 2.2 percent, respectively. Researchers speculate that may be due to some of the maintenance responsibilities in staying true to the home’s historical architecture that is often connected to these styles of homes.

Green space views: Homes with a park view appreciate at 7.9 percent a year, realtor.com®’s research team found. “[They] hold value over a longer period of time, and they recover quickly from a downturn,” says Michael Minson, a real estate pro in San Francisco at Keller Williams. “Buyers appreciate the tranquility and outdoor activities. They like being close to nature.” Indeed, homes with mountain views appreciated on average by 5.1 percent, and homes with a lake view at 4.9 percent. Ocean views appreciated the least of the “home views” studied, at just 3.6 percent a year. Recent storms may have spooked buyers from oceanfront properties as well as the fact that the highest-cost homes tend to be along the ocean, realtor.com®’s research team notes.

Source: “Appreciation Sensation: The Real Factors That Boost Your Home’s Bottom Line,” realtor.com® (April 17, 2017); REALTOR® Magazine Online, Daily Real Estate News 041817

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

Concord Forest Roomy Ranch

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KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

Written by Kenneth Bargers

April 16, 2017 at 12:13 pm

a great opportunity to own this Normandy Lake dream home

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207ThomaLane eblast041417.pub

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

Mortgage Rates Set a New 2017 Low This Week

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Mortgage Rates Set a New 2017 Low This Week
Article by Daily Real Estate News | April 14, 2017

HouseforSaleIllustration500wThe 30-year fixed-rate mortgage continues to drop this week, setting a new low for 2017, Freddie Mac reports in its weekly mortgage market survey. This marks the fourth consecutive week that 30-year rates have fallen.

“Following a weak March jobs report, the 10-year Treasury yield dropped about 5 basis points,” explains Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate fell 2 basis points to 4.08 percent.”

Freddie Mac reports the following national averages with mortgage rates for the week ending April 13, 2017:

  • 30-year fixed-rate mortgages averaged 4.08 percent, with an average 0.5 point, falling from last week’s 4.10 percent average. A year ago, 30-year rates averaged 3.58 percent.
  • 15-year fixed-rate mortgages averaged 3.34 percent, with an average 0.5 point, falling slightly from last week’s 3.36 percent average. Last year at this time, 15-year rates averaged 2.86 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.18 percent, with an average 0.4 point, falling from last week’s 3.19 percent average. A year ago, 5-year ARMs averaged 2.84 percent.

Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 041417

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

Middle Tennessee Home Sales See Strong Spring Start in March

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Middle Tennessee Home Sales See Strong Spring Start in March
Press Release by Greater Nashville REALTORS® | April 7, 2017

HomeforSale500w 0417NASHVILLE, Tenn. (April 7, 2017) – There were 3,420 home closings reported for the month of March, according to figures provided by Greater Nashville REALTORS®. This figure represents an 8.9 percent increase compared to the 3,141 closings in March 2016.

Data for the first quarter of 2017 showed 8,338 closings, up 9.7 percent from the 7,601 closings during the first quarter of 2016.

“March was a very strong month for our region’s housing market with sales up almost 9 percent,” said Greater Nashville REALTORS® President Scott Troxel. “We were exactly 96 units short of tying the mark for the best March on record, which is March 2006. A stronger economy and growing consumer confidence enable our region to continue to experience positive growth that rivals our market’s best years.”

“Mortgage interest rates have risen slightly in the past month, which can nudge potential buyers to act more quickly,” said Troxel. “Interest rates are very important for homebuyers and they get that. The rate can begin to impact whether a buyer can qualify for the home they want. Locking in at the lowest interest rate is a motivating factor for many buyers.”

There were 3,602 sales pending at the end of March, compared with 3,285 pending sales at this time last year. The average number of days on the market for a single-family home was 50 days.

The median residential price for a single-family home during March was $273,500 and for a condominium it was $199,900. This compares with last year’s median residential and condominium prices of $245,000 and $181,894, respectively.

Inventory at the end of March was 10,710, down from 11,951 in March 2016.

“April is Fair Housing Month, and as Realtors, we strive to help all who desire to own a home to become a homeowner. We are advocates for all current and future homeowners, and we will continue working to ensure housing is available to all,” said Troxel.

### Greater Nashville 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: Greater Nashville REALTORS® Press Release 040717

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

Written by Kenneth Bargers

April 11, 2017 at 9:59 pm

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