Middle Tennessee Beauty… a place to call home!

03_TNHometour--2_mlsMiddle Tennessee Beauty
a place to call home

207 Thoma Lane, Manchester TN
MLS 1915634  |  $1,295,000

Just listed and back on the market for spring this impressive luxury custom home with 25-acres surrounded by 250-acres of TVA land.
Built 2009 | 7,267 s.f. | 25-acres | 5 bed | 4/1 bath | 5-car garage

Details
view Website  view Video  View MLS 1915634

Exclusively Marketed by
Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | bargers-solutions.com web
2 Cadillac Drive, Brentwood TN 37027 address

#luxuryhomes #luxuryrealestate #nashvillerealestate

Many Baby Boomers Plan to Move Again

Many Baby Boomers Plan to Move Again
Article by Daily Real Estate News | June 13, 2016

HouseSaleKB110315About 60 percent of home owners age 55 or older say they would prefer to age in place if they had complete control over their living arrangements. That said, nearly 40 percent indicate they would prefer to move at least one more time.

That means nearly 27 million home owners may move again, according to the Freddie Mac 55+ Survey. Of those baby boomers who expect to move, 13 percent say they will likely move within four years.

“The decisions the nation’s baby boomers and other older home owners make will have an enormous impact on the demand for housing and new mortgage credit for the foreseeable future,” says Dave Lowman, executive vice president of Single-Family Business at Freddie Mac. “Whether they buy new homes or decide to refinance and renovate their current ones, the size of this generation and the fact that they hold close to two-thirds, approximately $8 trillion, of the nation’s home equity makes it very important that we watch what they do.”

Twelve percent of those baby boomers who would consider moving say they expect their next home to be more expensive than their current one. The survey showed that thirty-seven percent believe their next home purchase will be in the same price range as their current home, and half say that it will be less expensive.

Here are some additional findings from the survey:

  • 76% of baby boomers surveyed say they are confident they will be financially comfortable in retirement.
  • 59% of home owners say they are “very satisfied” with their communities, 64 percent with their current home, and 54 percent with their quality of life.
  • Nearly 25 percent of the respondents say they have already helped someone financially with a down payment for a home.
  • The top factors influencing whether to move and where to live: affordability of living in a particular community (46%); having the amenities needed to live there for many years after I retire (44%); less maintenance (41%); having a place where I was no longer responsible for caring for the property (e.g. yard work, snow removal) (30%); proximity to other family members (31%); being in a walkable community (28%); having abundant services for adults my age (25%); access to public transportation (17%); warmer climate (19%); having a place that is smaller than my current home (e.g. downsizing) (19%).

Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 061316

Where Properties Are Selling the Fastest

DOM-April2016realtor

Source: National Association of REALTORS®; April 2016 REALTORS® Confidence Index Survey Report

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

Successful May Keeps Nashville Pacing with National Home Sales Trends

Successful May Keeps Nashville Pacing with National Home Sales Trends
Article by Greater Nashville Association of REALTORS® | June 7, 2016

HouseForSaleNASHVILLE, Tenn. (June 7, 2016) – There were 3,698 closings reported for the month of May, according to figures provided by the Greater Nashville Association of REALTORS®. This represents an increase of 3.9 percent over the 3,558 closings reported for May 2015.

Year-to-date closings total 14,583. That is an 8.8 percent increase compared to the 13,402 closings reported through May 2015.

“May was another strong month for the housing market,” said GNAR President Denise Creswell. “The successes and challenges we face locally are in-line with the rest of the country.

“Our median price rose 10 percent in May compared to 2015. The most recent national numbers from April show median price is up 6.3 percent, so we’re similar in growth. Middle Tennessee is also following national trends with housing supply. Our inventory levels made slight gains in the condo and multi-family areas in May compared to the previous month, but are still down overall when compared year-to-year. Inventory levels nationally are also struggling, down 3.6 percent for April of this year compared to 2015.”

There were 3,930 sales pending at the end of the month, compared to the 3,730 pending sales at this time last year. Single-family homes averaged 57 days on the market in May.

The median residential price for a single-family home during May was $258,900 and for a condominium it was $194,000. This compares with last year’s median residential and condominium prices of $235,000 and $175,000, respectively.

Inventory at the end of May was 12,122, down from 13,764 in 2015.

“Last month, Realtors from across the country met in Washington, D.C. for the National Association of Realtors Legislative Meetings. One of the biggest takeaways from those meetings was the proposed changes to the FHA condominium loan program,” said Creswell. “The changes announced by Housing and Urban Development Secretary Julian Castro address streamlining the recertification process, reducing the owner-occupancy requirements and the limits on the types of property insurance FHA considers acceptable coverage.

“Condos are often excellent and affordable properties for first-time buyers. As competition is so tough in the entry-level market, anything that can be done to make homeownership more attainable for eligible first-time buyers is a positive move in the industry,” said Creswell.

Source: GNAR 060716

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 Continue Upward Trend

Mortgage Rates Continue Upward Trend
Article by Freddie Mac | June 2, 2016

FreddieMac-LogoMCLEAN, VA–(Marketwired – Jun 2, 2016) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates up slightly from last week, but still near three year lows.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.5 point for the week ending June 2, 2016, up from last week when it averaged 3.64 percent. A year ago at this time, the 30-year FRM averaged 3.87 percent.
  • 15-year FRM this week averaged 2.92 percent with an average 0.5 point, up from last week when it averaged 2.89 percent. A year ago at this time, the 15-year FRM averaged 3.08 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.88 percent this week with an average 0.5 point, up from last week when it averaged 2.87 percent. A year ago, the 5-year ARM averaged 2.96 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 link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote Attributed to Sean Becketti, chief economist, Freddie Mac
Since jumping 11 basis points on May 18th, the 10-year Treasury yield has leveled-off around 1.85 percent. Mortgage rates continue to adjust to this new level with the 30-year fixed rate inching up another 2 basis points this week to 3.66 percent. Recent statements by the Fed appear to have persuaded the market that a rate hike may come sooner than later. However, the market is fickle, and Friday’s employment report has the potential to swing opinion 180 degrees in the other direction.

### 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 the largest source 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

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

MarketGraphics Releases April 2016 New Home Permit Reports for Greater Nashville

The Greater Nashville Area (12-County) New Home Permit Reports for April 2016
Courtesy of MarketGraphics Research Group | May 25, 2016

MarketGraphics Research, located in Franklin, Tennessee, releases April’s New Home Permit Reports for the 12-county Greater Nashville area: County/Builder/Subdivision New Home Permit Report, Permits by County New Home Permit Report, Top 50 Builders New Home Permit Report

Nashville-MSA-Counties-Apri

Source: Cecilia Gonsewski | MarketGraphics Research Group, Inc.
(615) 371-2282 | cecilia@mgresearch.net | http://www.mgresearch.net

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

More New Homes Are Entering the Pipeline

More New Homes Are Entering the Pipeline
Article by Daily Real Estate News | May 18, 2016

NAHB-LogoNationwide housing starts climbed 6.6 percent last month to a seasonally adjusted annual rate of 1.17 million, according to Commerce Department data released Tuesday. Permits, a gauge of future construction, also jumped 3.6 percent month over month, showing the uptick will likely stay.

“Though housing construction data is relatively flat for the beginning of 2016, we anticipate a ramping up of housing production during the rest of the year, given a strengthening job market, low mortgage interest rates, and favorable demographics,” says Robert Dietz, chief economist for the National Association of Home Builders.

Single-family and multifamily starts both saw gains in April. Housing starts on single-family homes jumped 3.3 percent to a seasonally adjusted annual rate of 778,000 units. Multifamily starts, a more volatile sector, rose 13.9 percent to 394,000 units, the Commerce Department reported.

The bulk of the increase in single- and multifamily housing stats was in the Midwest and South. The Midwest saw a 22.2 percent month-over-month increase in housing starts, while the South saw a 14.1 percent boost. On the other hand, the Northeast saw starts drop 7.6 percent last month, while the West posted a 10 percent loss.

Housing permits, however, were up in all four regions in April, led by the largest gains in the West with a 4.7 percent month-over-month permit gain. The Midwest and South both registered 3.3 percent increases in permit issuance, and the Northeast saw a 3 percent increase.

Source: National Association of Home Builders; REALTOR® Magazine Online, Daily Real Estate News 051816

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