Kenneth Bargers

Greater Nashville Area: Be Part of the Showcase of Homes 2010

Are you interested in building your dream home? I am passing along this information in reference to this builder's opportunity. Brian Walsh, Walsh Custom Builders, is a member of a high-end builders organization named Custom Builders USA of Middle Tennessee. This builders group will be hosting a Parade of Homes in October 2010 featuring custom designs of 1M>. Each builder's home will be on display in the Parade of Homes. If you are willing to have your home shown in the Parade of Homes, then the builder will be offering you substantial discounts. This will be a great opportunity for someone to take advantage of this rare promotion and save thousands of dollars through builder and vendor discounts. For example a vendor has already committed to donate and install toilets in the home. This is an approximate $750 per unit for the higher end product.

If you are not familiar with Brian, his product is exceptional and has a tremendous reputation here in Middle Tennessee. I am attaching his description below. If you are interested or know someone considering new construction, please contact Brian or myself for further information.

Limited Time Promotion

Save Thousands of Dollars! Let me introduce myself for those who do not know me. I'm Brian Walsh of Walsh Custom Homes located here in Franklin. I have been in the building business for 32 years and have proudly completed 268 homes to date.

I have great news that may interest you and your clients. I wanted to inform you of a once in a lifetime opportunity to possibly save $150,000 to $200,000 on a custom built home in Williamson county. I am involved with a group of high end builders here in Middle Tennessee. The group is called CBUSA of Middle Tennessee. We are planning a Showcase of Homes for October 2010, and have gotten local and national vendors to greatly discount items such as appliances, windows, lumber etc. These discounts, along with my own builder discounts could translate into $200,000 off a $1,000,000 custom built home. Any lot and development will be considered. This is a huge opportunity and I'd like to speak with you further when you get the chance.

We also plan to donate the admission proceeds to the customer's charities. Please don't hesitate to contact Kenneth Bargers at (615) 512-9836, kb@bargers-solutions.com; or me at (615) 957-7999, or visit my website at www.walshcustomhomesllc.com.

Major increase in closings is first since October 2006

There were 2,145 home closings reported for the month of October, according to figures provided by the Greater Nashville Association of REALTORS®. This figure is up 22.7 percent from the 1,748 closings reported for the same period last year. This is the first time since October of 2006 that Greater Nashville home sales have recorded and increase in home sales on a year-to-year comparison for the month.

Year-to-date closings through October are 17,598, and 18.4 percent decrease from the 21,581 closings reported through October 2008.

"It is truly welcome news that home sales in Greater Nashville increased so dramatically in October," said GNAR President Mike Nichols. "And while one month does not make a trend, having a significant number of sales pending for the next month is also encouraging."

"This is undeniable evidence that the $8,000 tax credit has been meaningful in stimulating home sales. There is no question that many of these sales were initiated due to the tax credit and it is certainly our hope that, with the expansion and extension of this tax credit through next spring, we will continue to see positive sales in the area."

"This is really positive news for the area economy beyond those directly involved in the home sales transactions. Many new homeowners purchase appliances, furniture, floor covering, landscaping, lighting and other household items that help make their new house become their new home."

There were 2,106 sales pending at the end of the month, compared with 1,504 pending sales at this time last year. The average number of days on the market for a single-family home was 85 days.

The median residential price for a single-family home during October was $160,000, and for a condominium it was $144,000. This compares with last year's median residential and condominium prices of $170,000 and $152,500, respectively.

Inventory at the end of October was 23,398, compared to 24,043 in October 2008.

"Inventory is down overall and actually down significantly in the single-family homes category," said Nichols. "Based on October's numbers, we are at about an eight-month supply in that category, which is much more in balance than what has been the case for some time. There are still plenty of options in all categories, but the supply is in a more healthy range than it was earlier in the year."

Source: Greater Nashville Association of REALTORS®

MARKET COMMENT. Mortgage bond prices were near unchanged for the week amid very choppy trading conditions. Stronger than expected factory orders and ISM Index data were generally not bond friendly and attributed to higher rates in the middle of the week. Fortunately the Fed indicated the continued desire to keep rates low for an extended period. In addition, higher than expected unemployment and more payroll losses than expected helped mortgage bonds rally Friday. For the week, interest rates finished near unchanged.

The record debt auctions Monday, Tuesday, and Thursday will once again take center stage as the Veterans holiday Wednesday splits the trading week in half. Strong foreign demand remains necessary for interest rates to stay relatively low. The trade data Friday will also be important.

TRADING THIS WEEK. Market conditions that often lead to mortgage interest rate volatility are thin trading and shortened trading weeks. If very few market participants are buying and selling bonds, the potential for short-term volatility is escalated. A large buyer or seller can execute trading orders that, without additional traders to buffer out the extreme buying or selling, can lead to swift market movements. In addition, shortened trading weeks have the potential to compress a week's worth of trading into fewer days. Bond traders often take defensive positions ahead of weekends and holidays to guard against unforeseen events that could possibly jeopardize their investments. This positioning can be beneficial or detrimental to mortgage interest rates. If investors sell stocks and buy mortgage-backed securities, mortgage interest rates will improve. However, if investors sell mortgage-backed securities and hold cash positions, mortgage interest rates will rise.

Holidays can often result in volatility as trading resumes following the extended close. The Fed continues to state the goal of low interest rates for some time. It is hard to argue they have not been effective with that goal so far this year. That doesn't mean we haven't and won't see any interest rate volatility. Recent history attests to spikes and drops in rates throughout the year even with the Fed pumping $1.25 trillion in mortgage bonds. The big unknown remains when and how the Fed will exit the market without severe disruptions. Fed officials admit the future remains uncertain.

This week could result in market swings that are favorable or negative in nature. Considering the heightened possibility for mortgage interest rate volatility, a cautious approach to interest rate exposure is prudent.

Courtesy of Todd Kabel, US Bank, Nashville Tennessee

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Courtesy of Kenneth Bargers, REALTOR® A proud member of Prudential Woodmont Realty and the Jennie Clements Team (615) 512-9836 cell | (615) 661-7800 office kb@bargers-solutions.com | www.bargers-solutions.com

A hooded robber burst into a bank and forced the tellers to load a sack full of cash.

On his way out the door a brave customer grabbed the hood and pulled it off revealing the robber's face.

The robber shot the customer without a moment's hesitation.

He then looked around the bank and noticed one of the tellers looking straight at him.

The robber instantly shot him also.

Everyone else, by now very scared, looked intently down at the floor in silence.

The Robber yelled, "Well, did anyone else see my face?"

There are a few moments of utter silence, in which everyone was plainly afraid to speak. Then one old man tentatively raised his hand and said, "I think my wife may have caught a glimpse of you."