Prices Rise at Fastest Pace Since 2006, Calming Investor Fears of a Spring Swoon

Home prices surged during the first quarter at their fastest pace in nearly seven years, the latest sign of a sustained warm-up in an economic recovery that has otherwise been marked by starts and stops.

The housing-market revival—and an accompanying report on consumer confidence—adds new grist for a debate inside the Federal Reserve about how far to push its easy-money policies, including an $85 billion-a-month bond-buying program which has helped to keep mortgage rates near historic lows, boosted asset prices and begun to stimulate hiring and spending.

Fed officials say they have been considering when to wind down the program. Signs of a stronger housing market could give confidence to officials who want to be sure that the economy can stand on its own, without the bond buying. Still, they have been reluctant to get too enthusiastic about signs of an upturn, in part because the economy has disappointed before.

The latest reports were big factors driving financial markets Tuesday. Stock investors, encouraged by the strong data, sent the Dow Jones Industrial Average to a new high. At the same time, yields on the benchmark 10-year Treasury note climbed to 2.132%, the highest level in 13 months. Bond yields rise as prices fall, and the gain could have been a response to strong data—and also the prospect of a less active Fed.

“The data we’re seeing tells the Fed we’re moving in the right direction, but I don’t know if it’s enough to really have the Fed scale back what they’re doing,” said Scott Buchta, head of fixed-income strategy at Brean Capital LLC.

The market reaction reflected rising optimism that the U.S. economy has shaken off a potential spring slowdown and is on track for steady gains. Home prices in March rose 10.2% from a year earlier, the largest annual gain since prices began to fall in 2006, according to the Standard & Poor’s/Case-Shiller national index released Tuesday. Prices increased 1.2% in the first quarter, the first increase for the typically slower winter period since 2006. In a separate report, the Conference Board, a private research group, said Tuesday that its index of consumer confidence in May increased to the highest level since February 2008.

The pace of home-price gains has raised concerns among some economists over whether low mortgage rates have stimulated unsustainable home-price inflation—the proverbial bubble that some critics of Fed policies have feared. The average rate on the 30-year fixed mortgage, which is closely tied to yields on the 10-year Treasury, rose to 3.9% on Tuesday, the highest level in a year, according to HSH.com, a financial publisher.

Read full article: http://online.wsj.com/article/SB10001424127887324809804578510931769289110.html?mod=WSJ_RealEstate_RIGHTTopCarousel

 from The Tennessean

The signs of growth are hard to miss.

New housing developments are under construction in Franklin and across Middle Tennessee. A Walmart is going up in Spring Hill. Cranes dot Nashville’s skyline. And, of course, there’s plenty of traffic on the region’s roads.

New Census Bureau population estimates released today show Middle Tennessee cities among the nation’s fastest growing over the last year.

Clarksville was the nation’s fifth-fastest-growing city with at least 50,000 people. The Montgomery County city grew by 4.43 percent and now has more than 142,000 residents. Nashville ranked 15th for numerical gain, with more than 12,300 new residents calling Music City home between 2011 and 2012.

Nationwide, the fastest-growing large cities remain in the South and West. Seven of the top 15 are in Texas, according to the new census estimates.

Middle Tennessee also dominates the state’s list of the fastest-growing cities, the new census estimates show. Thompson’s Station ranked No. 2 in the state for growth rate. Mt. Juliet, Spring Hill, Franklin and Brentwood also showed gains.

A diversified economy, affordable housing and military spending are among the factors contributing to the region’s growth, University of Georgia demographer Doug Bachtel said.

“Those cities that have those high growth rates are probably growing from new people moving in,” he said. “That goes to the diversification of jobs.”

Bachtel said other factors contributing to a community’s fast growth are the quality of education and local leadership.

“People move to good education and they move away from bad education,” he said. “The wild card is the leadership.”

Starting July 1, the Tennessee Department of Revenue will use annual population figures to determine how to distribute state-shared tax revenue. The year-over-year population change will be a key factor in that distribution, according to the Municipal Technical Advisory Service at the University of Tennessee.

Building boom

Thompson’s Station Town Administrator Greg Langeliers said he isn’t surprised that his town grew so fast. The town increased its population by 4.92 percent, according to the census estimates.

“We have been issuing a lot of building permits here. Especially considering how we had basically nothing coming in for four or five years, it’s a big change,” he said. “So far, the population boost has not caused any problems. We have been able to keep up. But we may need to hire someone part time to help with building inspections.”

The town, with an estimated 2,366 residents, sits in a prominent transportation corridor along U.S. 31 and the newly completed State Route 840. It’s just a few miles away from Interstate 65, and working professionals can easily make it from there to jobs in Franklin or Nashville.

Mt. Juliet in Wilson County ranked No. 4 for growth in the state. The city now has 26,780 residents, up 3.97 percent from 2011 to 2012, the census shows.

“We’ve been growing rapidly each and every year for 10 years,” Mt. Juliet Mayor Ed Hagarty said. “It is driven by what it has always been driven by: extremely high quality of life, a very low crime rate, a very low tax rate, excellent schools.” Hagerty said the city has had struggles keeping up, particularly with roads.

“It is something you never claim victory over,” Hagerty said. “It is an ongoing struggle.”

Just south of Thompson’s Station is Spring Hill, another of Tennessee’s fast-growing cities. The city’s population estimate jumped from 30,108 in 2011 to 31,140 in 2012, a 3.43 percent increase.

Source: http://www.tennessean.com/article/20130523/NEWS01/305230042/Growth-spurts-good-sign-Middle-Tennessee-cities?sf13133910=1

Home construction activity in Nashville continues to build momentum, according to a new report by research firm Metrostudy. 

“Builders continue to successfully sell their existing inventory and new starts. Even model homes are being sold as inventory tightens,” Jason Brown, director of Metrostudy’s Nashville region, said in the report.
 
During the 12-month period that ended in March, Nashville saw 4,763 new home starts, a 34 percent increase over the previous year. In that same period there 4,322 new homes sold, a 20 percent jump from a year ago.
 
The number of new lots delivered during the period was up 47 percent compared to a year ago. However, Brown said, “We are already seeing shortages in certain submarkets.”
 
With demand for new homes outpacing supply, Nashville’s stock of new single-family homes has dipped to a healthy two-month supply level, down from a high of 3.8 months three years ago, according to Metrostudy.
 
“These factors combined with continued steady employment growth, the area’s lack of new home inventory, for sale listings still showing a tight supply and home values remaining stable, Nashville should expect to see continued upward movement in the new home market through the remainder of 2013,” Brown said.

Source: http://www.bizjournals.com/nashville/blog/2013/05/nashville-home-construction-activity.html

Need to move soon? The Jones Company of TN has homes under construction and Ready Now! Click here for a preview.

The BUILDER 100+ Rankings List for 2012 were just released!

We’re proud to announce that we are ranked at #109 in the entire country! Out of the thousands of homebuilders (large and small) in the U.S…..this little ol’ Middle Tennessee, privately-owned JONES team ranked #109! 

 Just a testimony to the fact that we are here to stay…going on 85+ years! Way to go Jones team!

The BUILDER 100 is compiled from data collected by BUILDER magazine via direct survey of the nation’s top builders. The BUILDER 100 and the Next 100 lists are made up of private and public builders and identify the top home builders in the U.S. by annual closings and gross revenue, as well as information about where and what they build.
 
BUILDER magazine has conducted the survey and compiled the BUILDER 100 list since 1984. The BUILDER 100 and the Next 100 lists of builders are featured in the May 2013 issue of BUILDER magazine and on builderonline.com. This year’s honorees also will be recognized at an awards dinner at the 2013 Housing Leadership Summit in Scottsdale on May 14.

For more information about the 2012 BUILDER 100 and Next 100 rankings, visit www.builderonline.com/builder100/2012.aspx.

Build your Jones Home Now and Get the FREE LUXURY BATHROOM PACKAGE.

Granite Countertops ~ Framed Mirrors ~ Upgraded Closet Features ~ Ceramic Tile Flooring ~ Recessed Lighting ~ Marble Tub ~ Marble Body Spray Shower ~Frameless Glass Shower Door

Learn more at JonesLuxuryBath.com

Offer subject to change without notice. Offer varies slightly depending on the particular home and community where you are building. See Sales Manager in the Jones community of your choice for details. Offer cannot be combined with other offers or exchanged for any cash value equivalent. Photos shown do not represent what is offered. Offer ends 5/13/13, and ONLY applies to NEW contracts dated 4/12/13 – 5/31/13.

 Please join us for the Groundbreaking ceremonies for

LCpl Ben Maenza and SPC Andrew Wilson!

Join us as Homes for Our Troops pairs with the Nashville area community to break ground for these homes. This is a chance to learn how you, your family and friends can support this project throughout construction! 

LCpl Ben Maenza on Saturday,

April 13 at 10:00 am

5530 Kelly Road, Brentwood, TN 37207

www.homesforourtroops.org/Maenza

SPC Andrew Wilson on Sunday,

April 14 at 10:00 am

7008 Nolen Park Circle, Nolensville, TN 37135

www.homesforourtroops.org/Wilson

Written by Price Lechleiter

When real estate is discussed, the conversation most often turns to the number of homes sold, the median price in the area, available inventory or pending sales. All of those items and the trends they represent are important, but rarely does anyone take a look at the overall impact of the real estate market on the economy.

Economic development efforts sometimes overlook the key impact of the housing market.

Let’s take a look at the economic impact of single-family homes in Greater Nashville just so far this year (not even including condominiums) using the number of closings and median prices already reported. Based on the number of homes sold in the first quarter, at the median price reported in each of the first three months of this year, there have been more than $825 million in residential real estate sales in the Greater Nashville area.

In addition to that, whenever someone purchases a home, there is a significant amount of money put into the economy through the add-on purchases such as appliances, furniture, flooring, cabinetry, lighting, window treatments, landscaping, lawn service and much more.

There are several reasons this is so important. First, if there is not a healthy real estate market here, with meaningful inventory choices at a variety of levels, it becomes much more difficult to attract companies and families here. The choices are not just about price. Access to services such as transit, shopping, education and entertainment figures into the equation. Proper planning for housing location and services is critical.

Second, let’s consider the jobs created by housing activity. Realtors, mortgage lenders, builders and developers are all directly connected. But it is also important to remember the jobs related to the manufacture and sale of appliances, furniture and the other items mentioned earlier.

And we have not even mentioned the impact of property taxes as the main resource that funds many of our government services.

All of this is to say, while we enjoy our own homes or like dreaming about the one we want to purchase, the housing market has a major impact beyond the individual purchases. Keeping the housing market active and free of questionable choices by government (like decreasing or removing the mortgage interest deduction or ending FHA, Fannie Mae or Freddie Mac) is important to all of us.

Read full article from The Tennessean: http://www.tennessean.com/apps/pbcs.dll/article?AID=2013304090015&nclick_check=1

The Jones Company has the honor and the privilege to be building two homes with Homes for Our Troops.

Meet Our Heroes…

 LCpl Ben Maenza 

LCpl Ben Maenza

http://www.homesforourtroops.org/site/PageServer?pagename=BenMaenza

Marine Lance Corporal Benjamin Maenza was 3 weeks into his first deployment when he lost both of his legs and suffered injuries to his arm as the result of a bomb blast in Sangin, Afghanistan on October 21, 2010. While on foot patrol, Maenza and his team crossed a river and began making their way along the other side when a pressure plated Improvised Explosive Device (IED) was triggered after being stepped on. LCpl. Maenza suffered traumatic amputations to both of his legs, requiring lifesaving measures to prepare him for helicopter transport to the nearest hospital. Airlifted to Camp Bastion, LCpl. Maenza was next sent to Landstuhl, Germany before arriving stateside at Bethesda National Naval Medical Center in Maryland in late October 2010. Ben has endured over a dozen surgeries thus far, and remains at the newly renamed Walter Reed National Military Medical Center for continued treatment and physical therapy.

LCpl. Maenza enjoys working-out, cycling, swimming, and playing wheelchair basketball and volleyball. Pursuing a college degree, Ben looks forward to a future of possibilities where he says, “I want everyone to see me for who I am, not for what I am missing.”
LCpl. Maenza would like to thank all of the donors and volunteers who will make his specially adapted home from Homes for Our Troops a reality. “I really appreciate what everyone does and all of the work they do to support me and other injured service members. Having a specially adapted home from Homes for Our Troops will give me back my independence. Thank you.”

 SPC Andrew Wilson

SPC Andrew Wilson

http://www.homesforourtroops.org/site/PageServer?pagename=Andrew%20Wilson 
 
Army SPC Andrew Wilson was on his first deployment when he suffered the amputations of his right leg below the knee, and his left leg above the knee, after stepping on an IED while on a foot patrol in Kandahar, Afghanistan on October 19, 2011. While patrolling in an area that had been the location of an IED explosion 3 days earlier, SPC Wilson was part of the team clearing the “Red Zone”. Stepping on a pressure plate, only 2 feet from the bomb itself, Andrew and his best friend were both blown into the air by the blast. With his platoon frantically working to save his life, and as his low blood pressure prevented him from receiving any morphine to numb the pain, Andrew’s platoon talked and sang to him while carrying him for 700 meters (nearly half a mile) to the medevac helicopter. Transported to local hospitals, SPC Wilson was stabilized in-country and airlifted to Landstuhl, Germany before arriving at the Walter Reed National Military Medical Center in Bethesda, Maryland where he continues his treatments and therapies at this time.

SPC Wilson enjoys running, scuba diving, and target shooting. He looks forward to returning to college and earning a degree in physical therapy, and eventually becoming a personal trainer. He is looking forward to living in the area where he was raised and being close to his parents and siblings.

SPC Wilson would like to thank those who have been encouraging him on his journey to recovery. When asked if there was something he would like to share with those who are helping to make his specially adapted home a reality he shared the following: “Having an adapted home will provide a comfort physically, mentally, and financially which will greatly reduce any anxiety about my future; something I have worried about since the moment of my injury. Thank you for supporting me and this amazing organization.”
 
 
UPCOMING EVENT DATES:

Saturday, April 13th
10AM – NOON
GROUNDBREAKING CEREMONY
for LCp Ben MAENZA & family
at Hemmingwood (Brentwood)
 
&
 
Sunday, April 14th
10AM-NOON
GROUNDBREAKING CEREMONY
for SPC Andrew WILSON & family
 at NOLEN PARK (Nolensville)
 
More information on Homes for Our Troops and these specific heroes can be found here: http://www.homesforourtroops.org
 
MORE INFORMATION TO COME…

Prospective home buyers have the choice of two types of houses on the market: resale or new.

Home buyers planning to buy a brand-new house or condominium often cite energy-efficiency, open layout, a warranty, and being able to select appliances, flooring, paint colors and other design elements as factors driving their choice.

But builders say that buyers can be drawn to a new house for reasons that aren’t so obvious.  Below are a few more benefits of a brand-new home that you may not see in the sales brochure. 

Building a Community Together

A brand-new community is one of the built-in benefits of many new homes. When families move in to a subdivision at the same time, often lasting bonds of friendship and neighborliness are formed right away. Nobody is the “new kid on the block,” and many home builders host community block parties in new developments to help owners meet and connect.

Popular amenities like pools, walking trails and courts for tennis and basketball offer additional opportunities for interaction among neighbors of all ages. Often new communities are comprised of home owners in the same stage of life, such as young families or active retirees, so neighbors can get to know each other through carpools, PTA meetings, tennis matches or golf games.

Entertaining

Throwing a party in an older home can be a challenge because smaller, distinct rooms make it difficult to entertain guests in one large space.  Builders are responding to today’s home buyer preferences with layouts featuring more open spaces and rooms that flow into each other more easily, like the popular great room. While you are in the kitchen preparing dinner, you can still interact with guests enjoying conversation in the family room without feeling closed off. The feeling of spaciousness in today’s new-home layouts often is enhanced the higher ceilings and additional windows that bringing in more light than you would find in an older home.

A Clean Slate
For some buyers, parking the car in a sparkling-clean garage or being the first to cook a dinner in a brand-new kitchen is part of the appeal of new construction. In addition, you won’t have to spend time stripping dated wallpaper or repainting to suit your own sense of style. You can create your own home décor from the get-go!

The advantages of being the first owner of a home extend to the outdoors. Instead of inheriting inconveniently or precariously placed trees, or having to tear up overgrown shrubs, you can design and plant the lawn and garden you want.

Outlets, Outlets Everywhere

Homes built in the 1960’s and earlier were wired much differently than houses today. Builders had no way of anticipating the invention of high-definition televisions, DVRs and computers that we enjoy today — and the very different electrical requirements they would introduce. New homes can accommodate advanced technologies like structured wiring, security systems and sophisticated lighting plans, and can be tailored to meet the individual home owner’s needs.

Anyone who has ever lived in an older home can also attest to the fact that there are never enough outlets, inside or out! New-home builders plan for the increased number and type of electronics and appliances used by today’s families, so you can safely operate a wine cooler, Christmas lights or your computer.

Source: http://www.nahb.org/generic.aspx?genericContentID=177637

The Jones Company has been given the privilege of working with Homes for Our Troops to build a new home for Two very deserving American heroes. 

Homes for Our Troops is a national non-profit 501(c)(3) organization. Their mission is to build specially adapted homes for service members who have been severely injured in combat operations since September 11, 2001.  These beautiful homes are designed to accommodate the special needs of the homeowner, and are provided at no cost to the veterans they serve.

 In the months ahead, LCpl Benjamin Maenza & SPC Andrew Wilson’s homes will take form. One home will be built in Nolen Park in Nolensville and the other in Brentwood, TN. More information to come…

Visit Homes for Our Troops website ( www.homesforourtroops.org ) for more details on how you can help with these projects and bring a hero home.