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The Housing Hot List for October

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The Housing Hot List for October
realtor.com    article by Daily Real Estate News | October 30, 2017

Nashville Union Station HotelListing prices for residential homes remained near record highs in October, according to a preliminary analysis by realtor.com®. The median list price nationwide was $274,000, near the $275,000 record set in June.

One point of relief for “market-fatigued buyers” who’ve faced low inventories for the past few years is that supplies of new listings are up slightly from a year ago, says Danielle Hale, realtor.com®’s chief economist. By the end of October, about 420,000 new listings will have hit the market over the entire month, realtor.com® predicts.

Some housing markets are more lively than others, with California continuing to see some of the most activity. Realtor.com® released its “hottest market” list for October, which is based on how quickly homes are selling and the amount of clicks cities receive on listings at realtor.com®.

The top 20 performing markets in October are:

  1. San Jose, California
  2. Vallejo, California
  3. San Francisco, California
  4. San Diego, California
  5. Boston, Massachusetts
  6. Stockton, California
  7. Sacramento, California
  8. Detroit, Michigan
  9. Denver, Colorado
  10. Modesto, California
  11. Columbus, Ohio
  12. Fresno, California
  13. Dallas, Texas
  14. Nashville, Tennessee
  15. Colorado Springs, Colorado
  16. Midland, Texas
  17. Rochester, New York
  18. Oxnard, California
  19. Santa Cruz, California
  20. Janesville, Wisconsin

Source: “Tight Inventory Drives High Prices, Quick Sales in the Nation’s Hottest Markets,” realtor.com® (Oct. 27, 2017); REALTOR® Magazine Online, Daily Real Estate News 103017


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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November’s Hot List: The Top 20 Markets

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November’s Hot List: The Top 20 Markets
Article by Daily Real Estate News | November 28, 2016

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Nashville, Tennessee

California real estate professionals are staying busy. Cities in California continue to dominate lists of the most booming housing markets in the country. But they’re not alone. Many markets across the country are seeing elevated sales this fall.

“After an eventful election, demand for real estate appears to be carrying momentum going into the holiday season,” says Javier Vivas, manager of economic research for realtor.com®. “We expect that to be put to the test, as mortgage rates sky rocket to new highs. But forecasts expect growth as we enter the new year, which should keep waves of buyers intent on entering the market.”

Inventory of homes for sale is down 5 percent in November from October, but the combo of low supply and high demand is keeping prices high, realtor.com® notes. The median list price nationwide remained at $250,000 for the fourth consecutive month, a new record for November.

Realtor.com® flagged the following 20 markets as the hottest in the country in November, where homes are selling the fastest and demand is highest (based on page views):

  1. San Francisco CA
  2. Dallas TX
  3. Vallejo CA
  4. Denver CO
  5. San Jose CA
  6. San Diego CA
  7. Stockton CA
  8. Fort Wayne IN
  9. Columbus OH
  10. Detroit MI
  11. Sacramento CA
  12. Boston MA
  13. Santa Rosa CA
  14. Fresno CA
  15. Modesto CA
  16. Billings MT
  17. Nashville TN
  18. Los Angeles CA
  19. Oxnard CA
  20. Colorado Springs CO

Source: “The 20 Hottest U.S. Real Estate Markets for November 2016,” realtor.com® (Nov. 23, 2016); REALTOR® Magazine Online, Daily Real Estate News 112816

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

50 Markets Ranked: Where Does Yours Fall?

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50 Markets Ranked: Where Does Yours Fall?
Article by Daily Real Estate News | October 25, 2016

NashvilleSkyBridge130x210

Nashville, TN

Who has the hottest single-family housing market this fall? Fort Lauderdale, Fla., according to a new report released by Ten-X, an online real estate marketplace. Ten-X ranked the 50 largest single-family housing markets for fall 2016 based on current and forecasted fundamentals.

Florida markets continue to dominate its list for the second consecutive season.

“Florida’s housing market continues to set the pace for the nation, with five of the top 10 metros on our report,” says Rick Sharga, Ten-X executive vice president. “While all of the top five markets took substantial hits during the housing crash, especially Las Vegas, the continued road to recovery for these destination cities is looking even brighter.”

The five single-family markets topping Ten-X’s list for this fall are: Fort Lauderdale, Fla.; Palm Beach County, Fla.; Tampa, Fla.; Orlando; and Las Vegas.

The rankings factor in pricing, sales, permit activity, and economic growth, population growth.

See how your metro stacked up.

  1. Fort Lauderdale
  2. Palm Beach County
  3. Tampa
  4. Orlando
  5. Las Vegas
  6. Phoenix
  7. Seattle
  8. Nashville
  9. Dallas
  10. Jacksonville
  11. Denver
  12. Portland
  13. Oakland
  14. Atlanta
  15. Columbus
  16. Raleigh
  17. San Francisco
  18. San Jose
  19. Miami
  20. Boston
  21. Austin
  22. San Diego
  23. Charlotte
  24. Salt Lake City
  25. DC
  26. Riverside
  27. Los Angeles
  28. Indianapolis
  29. Sacramento
  30. Minneapolis
  31. Fort Worth
  32. Orange County
  33. San Antonio
  34. Kansas City
  35. Detroit
  36. Pittsburgh
  37. Cincinnati
  38. Milwaukee
  39. Northern Virginia
  40. St. Louis
  41. Suburban Maryland
  42. Houston
  43. Memphis
  44. Philadelphia
  45. Long Island
  46. Northern New Jersey
  47. Chicago
  48. Cleveland
  49. Central New Jersey
  50. Baltimore

Source: Ten-X   Article distribution: REALTOR® Magazine Online, Daily Real Estate News 102516

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

Top 10 Smartest U.S. Cities

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A study that looked at the education levels of the residents from the 200 largest metros identified Boulder, Colo., as the nation’s smartest city, as well as nine other mostly small-city locales that are home to high tech and aerospace companies as well as brainy people. 

“We often associate larger cities as the centers of education and culture, and therefore epicenters for the country’s smartest people. However this study shows that smaller cities can attract some significant brain power. Out of the top 10 smartest places, six of them have populations of less than one million people,” said J. Jennings Moss, editor of Portfolio.com. 

Here are the nation’s top-10 brainiest cities

  1. Boulder, Colorado
  2. Ann Arbor, Michigan
  3. Washington, D.C.
  4. Durham, North Carolina
  5. Fort Collins, Colorado
  6. Bridgeport-Stamford, Connecticut
  7. San Jose, California
  8. Boston, Massachusetts
  9. Madison, Wisconsin
  10. San Francisco-Oakland, California

Source: Portfolio.com (12/01/2010); blog distribution by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee.

10 Best Cities for Working Women with Kids

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ForbesWoman calculated the best cities for working females raising children. To pick the 10 best, it factored in crime rates, quality of the schools, availability of good healthcare, employment opportunities with high earning potential, and a budget-friendly cost of living. 

Here are their picks

  1. Minneapolis-St. Paul, Minn.
  2. Washington, D.C.
  3. Boston, Mass.
  4. Pittsburgh, Pa.
  5. Baltimore-Towson, Md.
  6. Denver, Colo.
  7. Hartford, Conn.
  8. New York, New York
  9. Seattle-Tacoma, Wash.
  10. Buffalo-Niagara Falls, N.Y.

Source: ForbesWoman, Meghan Casserly (07/26/2010)

Top 10 Places for New Grads to Live and Work

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Apartments.com and CareerRookie.com, CareerBuilder’s college job search site, have identified the 10 best cities for recent college graduates to both find a job and an affordable apartment. 

The list was compiled by identifying the top U.S. cities with the highest concentration of young adults, the largest inventory of jobs requiring less than one year of experience, and the most apartments affordable on a median new graduate’s salary. 

Here’s the list of selected cities and the cost of renting a one-bedroom apartment. 

1. Atlanta, $723
2. Phoenix, $669
3. Denver, $779
4. Dallas, $740
5. Boston, $1,275
6. Philadelphia, $938
7. New York, $1,366
8. Cincinnati, $613
9. Baltimore, $1,041
10. Los Angeles, $1,319

Source: CareerRookie.com and Apartments.com (05/05/2010)

Home Sales Rise on Tax Credit, Favorable Market

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Buyers responding to the home buyer tax credit and favorable affordability conditions boosted existing-home sales in March, marking the beginning of an expected spring surge, according to the National Association of REALTORS®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million units in March from 5.01 million in February, and are 16.1 percent above the 4.61 million-unit level in March 2009.

Lawrence Yun, NAR chief economist, said it is encouraging to see a broad home sales recovery in nearly every part of the country, with two important underlying trends. “Sales have been above year-ago levels for nine straight months, and inventory has trended down from year-ago levels for 20 months running,” he said. “The home buyer tax credit has been a resounding success as these underlying trends point to a broad stabilization in home prices. This is preserving perhaps $1 trillion in largely middle-class housing wealth that may have been wiped out without the housing stimulus measure.”

Rise in Inventories, Prices

Total housing inventory at the end of March rose 1.5 percent to 3.58 million existing homes available for sale, which represents an 8.0-month supply at the current sales pace, down from an 8.5-month supply in February. Raw unsold inventory is 1.8 percent below a year ago, and is 21.7 percent below the record of 4.58 million in July 2008.

“Foreclosures have been feeding into the inventory pipeline at a fairly steady pace and are being absorbed manageably,” Yun said. “In fact, foreclosures are selling quickly, especially in the lower-price ranges that are attractive to first-time home buyers.”

A parallel NAR practitioner survey shows first-time buyers purchased 44 percent of homes in March, up from 42 percent in February. Investors accounted for 19 percent of transactions in March, unchanged from February; the remaining sales were to repeat buyers. All-cash sales remain elevated at 27 percent in March, the same as in February.

The national median existing-home price for all housing types was $170,700 in March, up 0.4 percent from March 2009. Distressed homes, typically sold at a 15 percent discount, accounted for 35 percent of sales last month – unchanged from February.

“With home values stabilizing, a revival in home buying confidence will likely help the housing market get back on its feet even as the tax credit impact disappears,” Yun said.

A Great Time to Buy

NAR President Vicki Cox Golder said buying conditions are in near-perfect alignment. “Even with tougher loan standards, historically low mortgage interest rates with affordable prices and a sense that the market is turning have created optimal conditions in much of the country,” she said.

“With the fast-approaching April 30 deadline to get a contract in place for the tax credit, REALTORS® are working harder than ever to negotiate transactions, arrange services and complete paperwork,” Golder said. “Because many repeat buyers need to sell their current home first, many will be purchasing later without the tax credit but now have the benefit of a more buoyant housing market.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage dipped to 4.97 percent in March from 4.99 percent in February; the rate was 5.00 percent in March 2009.

Single-family home sales rose 7.3 percent to a seasonally adjusted annual rate of 4.68 million in March from a level of 4.36 million in February, and are 13.3 percent above the 4.13 million level a year ago. The median existing single-family home price was $170,700 in March, up 0.6 percent from March 2009.

Regional, Metro Area Performances

Single-family median prices rose in 14 out of 20 metropolitan statistical areas reported in March in comparison with a year earlier. Five metro areas experienced double-digit increases, including San Diego, St. Louis, and Boston.

Existing condominium and co-op sales increased 3.1 percent to a seasonally adjusted annual rate of 670,000 in March from 650,000 in February, and are 39.3 percent higher than the 481,000-unit level in March 2009. The median existing condo price was $170,600 in March, which is 0.7 percent below a year ago.

Regionally, existing-home sales in the Northeast increased 6.0 percent to an annual level of 890,000 in March and are 25.4 percent higher than a year ago. The median price in the Northeast was $249,800, up 8.9 percent from March 2009.

Existing-home sales in the Midwest rose 7.2 percent in March to a pace of 1.19 million and are 15.5 percent above March 2009. The median price in the Midwest was $139,300, up 0.2 percent from a year ago.

In the South, existing-home sales increased 7.1 percent to an annual level of 1.97 million in March and are 13.9 percent higher than a year ago. The median price in the South was $154,800, up 5.2 percent from March 2009.

Existing-home sales in the West rose 6.6 percent to an annual rate of 1.30 million in March and are 14.0 percent above March 2009. The median price in the West was $209,400, down 7.9 percent from a year ago.

Source: NAR

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