If you have been thinking about buying a home then NOW really is te time!!!!

Freddie Mac has reported that the 30-year fixed mortgage rate fell to a new low this past week, averaging 3.88 percent, which is down a notch from 3.89 percent a week earlier! 

The benchmark rate has been below 4 percent for seven straight weeks. 

Meanwhile, the average interest on 15-year loans bumped up to 3.17 percent from 3.16 percent last week. Freddie Mac chief economist Frank Nothaft said mortgage rates were basically flat in lieu of a mixed bag of economic data reports.

[SOURCES: Freddie Mac; Information, Inc.]

Home Builders More Confident

This report from the National Association of Home Builders is showing that the new home builders have a renewed confidence in the demand for homs. Home builders are at the front line of trying to determine the mood of the home buyers confidence. If the confidence is low then buyers will back off from looking at buying a home...but if they feel reasinably secure in their job and they see that the economy as a whole is improving then they may consider buying a new home.

The trickle down effect is huge because with new home starts on the rise this then has the multiplier effect for the whole ecomomy as a ne home requires not just the wood, dryway, shingles, bricks needed to construct the home, but all the preipheral supplies

Nick has had a busy couple weeks.

Last Thursday, he spent the day with some clients in from New Jersey to look at some different areas of Nashville in the $250-300k range to narrow down their search area for their move coming up in a few months.

Monday he started with a final walk thru for a new construction closing coming up next week in Antioch for $117k.

Then he meet with some clients, he has been working with to look at a new listing in West Nashville. They had an offer in that night and got a contract accepted in the $220k range by the next morning. His clients had their home inspection done today.

Next week doesn’t seem to be looking at much of a slow down either. He already has clients coming in from Florida that will be

Mark spent last week helping clients from Portland, Oregon find their perfect home.

On Saturday they viewed 13 properties in Hendersonville, Gallatin, Mt Juliet and Old Hickory including some lake homes. On Sunday, the focus switched to the south of Nashville with the clients viewing 11 properties in Brentwood and Franklin. All the properties had minimum of 4 beds and 4 bathrooms and ranged between $550,000 to $900,000.

A second trip is being planned to view the shortlisted homes and to visit local schools.

Mark also help other out of state clients relocating from Kentucky who are trying to find the perfect 2 to 3 bedroom condo ranging between $130,000 – $160,000.

Here is an intersting report that talks about real estate foreclsoures across the USA not just in Nashville TN. As usual with statistics there is some reading between the lines and there is talk of a second wave of foreclosures coming on the market soon.

What the report doesn't mention that there id definately a renewed level of real estate activity in Nashville. It's as if the country as a whole is on the same bio rythmn and the thought of buying a home in Nashville, which has been in the minds of many people, seems to have become a definate possibility recently.

With the buyers market publicity and all the talk about historically low interest rates people seem to have collectively realised that this is a great time to buy a home! After a while

Here is a message from our newest agent on The Ashton Real Estate Group of RE/MAX Elite, Stacy DeLima.

"I am thrilled to be joining the #1 RE/MAX team in Tennessee! I was previously an agent with a relocating service assisting people searching for their new apartment home, townhome, condo or loft.

I LOVE helping others find their new place to live! 2012 looks to be a great time to buy in middle Tennessee and I'm excited to become a successful part of The Ashton Real Estate Group of RE/MAX Elite."

Here is an interesting note from the Los Angeles Times about the current mortgage rates and how the may change in the coming year.

Housing experts believe that high unemployment and continued home price depreciation in many areas will keep many would-be buyers on the sidelines in 2012. "Remarkably low rates are not enough" to entice buyers worried about the "lack of equity in their properties, poor credit and a weak job market," notes Michael Fratantoni of the Mortgage Bankers Association. Still, those rates will remain historically low this year, according to Freddie Mac, which predicts that interest on 30-year mortgages will average 4.5 percent for the year before rising to 5.4 percent in 2013.

[SOURCES: Los Angeles Times; Information, Inc.]

Jarrod Curcio has had another strong beginning of 2012.  He closed on a listing in West Nashville, and then he wrote an offer on a townhome in S.Nashville .

Another good indication of the strengthening real estate market in Nashville is that he received and finalised a contract on his short sale listing in Mt. Juliet. 

Jarrod also just reached an agreement with teammate Mark O’Connell on a short sale in Antioch.  The Ashton Real Estate Group is a powerful resource!

John Gilbert wrapped up 2011 with a closing on 12/30th with a couple who relocated to the Nashville area from Springfield, MO.  The couple relocated to the area to accept new job offers and bought new construction in the Cane Ridge area and got a great deal on a new home @ $155K and the builder offered a 4% commission.

On 1/2/12 John showed property to a local cash buyer who made an offer that day that went under contract 1/3/12 and they are looking to close 1/12/12.