KENNETH BARGERS | In The News

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

Posts Tagged ‘current housing conditons

Why New Homes Are About to Get Pricier

leave a comment »

Why New Homes Are About to Get Pricier
Article by Daily Real Estate News | March 1, 2017

newhomeblueprintsWith the cost of building materials jumping 25 percent year over year, according to the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index, builders are increasingly concerned about how this will affect home buyers in the new-construction market. In 2016, builders ranked the cost of building materials low on their list of concerns—but now it’s one of their top five.

The increased cost of lumber is a chief catalyst. “Negotiations on a new softwood lumber agreement between the United States and Canada ground to a halt at the end of 2016 and likely are stalled pending the results of an investigation into unfair import practices requested by the U.S. Lumber Coalition,” the NAHB reports.

Because of this, home buyers likely will face price hikes. According to the NAHB/Wells Fargo Housing Market Index, builders cited the following as the 10 most significant problems they expect to face in 2017:

  1. Cost/availability of labor: 82%
  2. Cost/availability of developed lots: 67%
  3. Impact/hook-up/inspection or other fees: 61%
  4. Building material prices: 60%
  5. Federal environmental regulations and policies: 52%
  6. Local/state environmental regulations and policies: 52%
  7. Regulation of banking/financial institutions: 48%
  8. Development standards (parking, setbacks, etc.): 47%
  9. Inaccurate appraisals: 46%
  10. Health insurance: 40%

Source: “Material Costs Spike as a Menacing Builder Worry,” BUILDER (Feb. 28, 2017); REALTOR® Magazine Online, Daily Real Estate News 030117

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 Are Moving on Up

leave a comment »

Mortgage Rates Are Moving on Up
Article by Daily Real Estate News | September 16, 2016

Treed-Home-LotThe 30-year fixed rate mortgage surged to its highest level since June.

“This is the first week since June that mortgage rates were above 3.48 percent, snapping an 11-week trend,” says Sean Becketti, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 15:

  • 30-year fixed-rate mortgages: averaged 3.50 percent, with an average 0.5 point, rising from last week’s 3.44 percent average. Last year at this time, 15-year rates averaged 3.91 percent.
  • 15-year fixed-rate mortgages: averaged 2.77 percent, with an average 0.5 point, rising from last week’s 2.76 percent average. A year ago, 15-year rates averaged 3.11 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.82 percent, with an average 0.4 point, increasing from last week’s 2.81 percent average. A year ago, 5-year ARMs averaged 2.92 percent.

Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 091616

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

Greater Nashville: Big Gain in Pending Home Sales to Start Summer Selling Season

leave a comment »

Big Gain in Pending Home Sales to Start Summer Selling Season
Press Release by Greater Nashville Association of REALTORS® | June 8, 2015

GNAR-LOGO-175wNASHVILLE, Tenn. (June 8, 2015) – There were 3,558 closings reported for the month of May, according to figures provided by the Greater Nashville Association of REALTORS®. This represents an increase of 15.6 percent from the 3,079 closings reported for May 2014.

Year-to-date closings total 13,402. That is an 11.6 percent increase compared to the 12,012 closings reported through May 2014.

“The summer is always a hot time for home sales. Middle Tennessee hasn’t seen a month of May this strong since 2007, said Cindy Stanton, GNAR President. “This is the first time since June of 2007 that we have exceeded 3,500 units sold in one month. The steady increase in home sales is the sign of a vibrant market.

“The excitement continues with the number of pending home sales. There were 3,730 pending sales at the end of May. We haven’t experiences pending sales numbers like these since June of 2006. While not all of those pending sales may make it to the closing table, they are a good indicator of the solid activity in the housing industry we can expect in the coming months.”

There were 3,730 sales pending at the end of the month, compared to the 3,108 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 residential price for a single-family home during May was $235,000 and for a condominium it was $175,000. This compares with last year’s median residential and condominium prices of $209,900 and $174,000, respectively.

Inventory at the end of May was 13,764, down from 15,962 in 2014.

“Inventory remains a deterrent for buyers, with a three month supply for single family homes and two months for condominiums. Many properties rapidly leave the market and some never make it to be listed in the multiple listing service,” said Stanton. “A Realtor’s market knowledge, both of available and coming properties, is invaluable in these circumstances.”

### 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: Greater Nashville Association of REALTORS®, Press Release 060815

Bargers-Signature-Block

Freddie Mac June 2014 U.S. Economic and Housing Market Outlook

leave a comment »

Freddie Mac June 2014 U.S. Economic and Housing Market Outlook
2014: A Mid-Year Assessment
Article by Freddie Mac | June 18, 2014

FreddieMac-LogoMCLEAN, VA–(Marketwired – Jun 18, 2014) – Freddie Mac (OTCQB: FMCC) released today its U.S. Economic and Housing Market Outlook for June providing a mid-year assessment as well as how for-sale inventory and vacancy rates will affect the near-term outlook. The complete June 2014 U.S. Economic and Housing Market Outlook and forecast table are available here.

Outlook Highlights

  • Low for-sale inventory will help to sustain house price and rent gains but at the expense of affordability in the short term.
  • While the total number of vacant units has decreased by 4.2 percent from the first quarter of 2010 to the first quarter of 2014, the number of vacant units for sale has declined by 24.2 percent (485,000 units).
  • Home purchase applications have picked up a bit recently with the traditional homebuying season underway, yet they’re still currently 13 percent below last year. For this reason, we’re lowering our overall homes sales forecast from 5.5 million to 5.4 million.
  • We expect fixed rates to rise gradually during the second half of the year in part as a result of the Federal Reserve’s “tapering” of net mortgage-backed securities acquisitions. Expect the 30-year fixed-rate mortgage to gradually rise higher, ending the year around 4.4 percent.

Quote Attributed to Frank Nothaft, Freddie Mac vice president and chief economist.
“We’re nearly half way through the year and single-family housing remains weaker than we projected six months ago, while multifamily appears to be right on track. With vacancy rates moving back in line with historical averages, even falling below historical averages in some markets, and for-sale inventories remaining tight, U.S. home price indexes are likely to continue their above-inflation growth for the remainder of the year, as will rent gains, albeit much slower than in 2013. The important question is how much further will prices and rents have to rise to give incentives for more existing owners to list their property for sale and developers bring more supply to the market. Construction has rebounded over the past two years but is still significantly below the levels one would expect to see given projections of household formations.”

### 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

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate|marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
kennethbargers.com blog | www.pilkertonrealtors.com web

2 Cadillac Drive, Brentwood TN 37027 address

Subscribe BLOG: EMAIL ME your name/email address to receive Kenneth Bargers Blog
Subscribe NEWSLETTER: EMAIL ME your name/email address to receive In The News

let’s connect…

pinterest-logotrulia-logoyelp-logoabout-me-logogoogle-plus-logowordpress-logotwitter-logolinkedin-logofacebook-logo

 

Mortgage Rates Hold Mostly Flat for the Week

leave a comment »

Mortgage Rates Hold Mostly Flat for the Week
Daily Real Estate News | Friday, January 10, 2014

Mortgage rates were little changed this week, with the 30-year fixed-rate mortgage averaging 4.51 percent, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 9:

  • 30-year fixed-rate mortgages averaged 4.51 percent, with an average 0.7 point, dropping from last week’s 4.53 percent average. Last year at this time, 30-year rates averaged 3.40 percent.
  • 15-year fixed-rate mortgages averaged 3.56 percent, with an average 0.6 point, rising slightly from last week’s 3.55 percent average. A year ago, 15-year rates averaged 2.66 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.15 percent, with an average 0.4 point, rising from last week’s 3.05 percent average. Last year, 5-year ARMs averaged 2.67 percent.
  • 1-year ARMs averaged 2.56 percent, with an average 0.5 point, holding the same average as last week. A year ago, 1-year ARMs averaged 2.60 percent.

Source: Freddie Mac; Daily Real Estate News (011014) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

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

Flash fiction tales of humor, horror and whimsy

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

realtracs.wordpress.com/

News and Information From RealTracs Solutions

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

timscribbles.com

automotive culture