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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
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

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Target Markets for Investors in 2017

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Target Markets for Investors in 2017
Article by Daily Real Estate News | January 18, 2017

nashvilleskyline175x180For prime investment locations, it may be time to look South. Forbes teamed up with Local Market Monitor, a company that tracks more than 300 housing markets, to uncover the top cities for investors in the new year. The markets that dominate this year’s list reflect two major benefits: affordability and growth.

If you are planning on making an investment, either by buying a home or by buying a rental property, these are really good markets,” says Ingo Winzer, Local Market Monitor CEO. “These are markets where… you are probably going to get a good return and you are not taking an extraordinary risk.”

Dallas topped this year’s list. Home prices there average $233,000, up nearly 4 percent from a year ago. Yet, the city’s housing market is still considered underpriced by 3 percent compared to its historic average. Local Market Monitor predicts home prices in Dallas to increase 31 percent by 2020, due to a boom in job and population growth.

Here are the 15 cities investors could do particularly well in this year, according to the study:

  1. Dallas, TX: 31% (the percentage increase predicted for home prices by 2020)
  2. Jacksonville, FL: 30%
  3. Orlando, FL: 28%
  4. Seattle, WA: 26%
  5. West Palm Beach, FL: 26%
  6. Salt Lake City, UT: 25%
  7. Tampa-St. Petersburg, FL: 25%
  8. Nashville, TN: 24%
  9. Fort Worth, TX: 24%
  10. Grand Rapids, MI: 23%
  11. Sacramento, CA: 22%
  12. Charlotte, NC: 21%
  13. Raleigh, NC: 21%
  14. San Diego, CA: 21%
  15. Las Vegas, NV: 20%

Source: “Best Buy Cities: Where to Invest in Housing in 2017,” Forbes.com (Jan. 10, 2017); REALTOR® Magazine Online, Daily Real Estate News 011817

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

Nashville among the 10 Hot Housing Markets for Singles

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10 Hot Housing Markets for Singles
Article by Daily Real Estate News | February 12, 2016

In some cities, love and real estate could make a perfect match. Realtor.com®’s research team recently identified the cities that attract singles with low employment, affordable housing, and a wide range of fun activities.

“These markets are not simply places with a high number of singles; in fact, the raw share of singles in these markets combined is about the same as the U.S. average,” says Javier Vivas, a realtor.com economic research analyst. “What really distinguishes this set are the more favorable conditions singles face when it comes to home ownership. Some of those right ingredients include solid job creation, rational price appreciation, and varied amounts of affordable inventory.”

The following cities boast 20 to 50 percent more single-owned households compared to the rest of the nation. Also, median list prices are more affordable for residents earning the median income, and unemployment rates are near or less than the national average of 5 percent.

Realtor.com® identified the following cities as the “best cities for singles looking for love and real estate.”

Hottest-Cities-for-Singles-

Visit realtor.com® to learn more about these top 10 single cities and the best date ideas in each of the top 10 locales too.

Source: “Best Cities for Singles Looking for Love and Real Estate,” realtor.com® (Feb. 10, 2016); REALTOR® Magazine Online, Daily Real Estate News 021216

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

Housing Starts Expected to Climb in 2011

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New home construction is looking up this year. 

During an economic update Wednesday at the International Builders’ Show in Orlando David Crowe, chief economist of the National Association of Home Builders, projected single-family housing starts to rise by 21 percent in 2011, reaching 575,000 units. 

The estimate is slightly more conservative than the Dec. 30 projection of 716,000 housing starts this year by Lawrence Yun, chief economist of the National Association of REALTORS®. Both estimates assume sustained job growth, increasing U.S. population, as well as continued low interest rates driving construction. 

Yun expects about 2 million jobs to be added in 2011. However, as NAHB presenter Frank Nothaft, chief economist for Freddie Mac, pointed out, 2011 got off to a slow start with nonfarm payrolls rising only by 103,000 in December. He called the figure weaker than expected. 

Credit is another factor. Lending remains tight, but if it opens up with safe underwriting standards for creditworthy buyers, Yun says there would be a bigger boost to the housing market with spillover benefits for the broader economy. The 30-year fixed-rate mortgage is forecast to rise gradually to 5.3 percent around the end of 2011; at the same time, unemployment should drop to 9.2 percent, according to NAR. 

In addition, over the past 10 years the U.S. has added 27 million people. Continued population growth will also spur home construction and sales. “All the indicator trends are pointing to a gradual housing recovery,” Yun says. 

An even more conservative projection of 492,000 housing starts in 2011 was released by the Portland Cement Association during the International Builders Show Wednesday. Edward Sullivan, PCA chief economist, does not expect significant increases until 2012 due to tight lending standards, a high home inventory count, and unstable housing prices. He also says that new home construction will vary considerably by region. 

Source: Erica Christoffer, REALTOR® Magazine; blog distribution provided by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee

Overpriced, Underpriced Housing Markets

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What are the most overvalued and undervalued housing markets in the country? The Local Market Monitor recently released a list for investors analyzing buying conditions for real estate markets in the United States. 

Overall, Las Vegas was a city they flagged as the worst — or “frankly dangerous,” as they referred to it. They said the city is not only one of the most undervalued housing markets in the country but is also considered one of the worst housing buys. Orlando, Fla., was another city the Local Market Monitor considered a bad investment city. 

Las Vegas’ median home price is less than $145,000–a drop of more than half in its median home price since its housing peak days. The Local Market Monitor says Las Vegas is also nearly 30 percent less than what would be considered fair market value. Both Las Vegas and Orlando have been plagued with high inventories of homes due to overbuilding from a few years ago, and also are two of the hardest hit areas for foreclosures. 

Here’s a list of the most overpriced housing markets and the percentage they are overvalued by, according to the report: 

  1. Nassau-Suffolk, N.Y.: 26% ($418,416 median home price)
  2. Los Angeles: 24% ($368,056 median home price)
  3. Portland, Ore.: 24% ($240,912 median home price)
  4. Anaheim, Calif.: 23% ($449,396 median home price)
  5. Edison, N.J.: 20% ($286,900 median home price)

Here is a list of the top 5 most undervalued markets: 

  1. Las Vegas: -27% ($144,636 median home price)
  2. Akron, Ohio: -22% ($155,673 median home price)
  3. Cleveland: -21% ($154,674 median home price)
  4. Warren, Mich.: -21% ($111,114 median home price)
  5. McAllenn, Texas: -20% ($131,871 median home price)

View a complete list of overvalued and undervalued cities.

Source: “America’s Most Overvalued – and Undervalued – Cities,” CNNMoney.com (Jan. 10, 2011); blog distribution provided by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee

Foreclosures Decline in Most Hard-Hit Markets

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Among the 20 U.S. metropolitan areas with the highest foreclosure rates, foreclosures actually declined in the last year, falling in 14 of the top 20 cities and eight of the top 10, reports RealtyTrac, which provides a market platform for foreclosures. 

“The decreasing foreclosure activity in some of the nation’s top foreclosure hot spots in the first quarter is largely the result of government intervention and other non-market influences, and not a sure signal that those areas are out of the woods yet when it comes to foreclosures,” says RealtyTrac CEO James J. Saccacio. 

Nationwide, foreclosure activity increased in 159 of the 206 metro areas RealtyTrac tracks and was up 16 percent overall compared to the first quarter of 2009. 

Here are the top 10 cities with the most foreclosures: 

  1. Las Vegas-Paradise, Nev.
  2. Modesto, Calif.
  3. Cape Coral-Fort Myers, Fla.
  4. Riverside-San Bernardino-Ontario, Calif.
  5. Stockton, Calif.
  6. Merced, Calif.
  7. Phoenix-Mesa-Scottsdale, Ariz.
  8. Vallejo-Fairfield, Calif.
  9. Bakersfield, Calif.
  10. Orlando-Kissimmee, Fla.

Source: RealtyTrac (04/29/2010)

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