Nelson Barss

NMLS# 201517

Senior Loan Officer

Nelson Barss
Senior Loan Officer

NMLS# 201517
State Lic: UT # 5502102; ID # MLO-22280;
1810 East 3100 North
Layton, UT 84040
Branch: (801) 775-8875
Direct: (801) 923-2161

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Nelson is a 15 year veteran of the mortgage industry and has worked as a loan officer, sales manager, branch manager and trainer. Nelson has trained more than 50 loan officers and has been involved in over 1,000 loan closings.  Nelson also owned and operated Old Providence Mortgage Co. in Centerville, UT and managed a branch for a major national lender in South Ogden, UT before joining Academy Mortgage.  Joining forces with Academy has allowed Nelson to re-focus on what he loves - taking great care of his clients and real estate partners.

Prior to entering the mortgage industry, Nelson worked for 2 years as an NASD registered securities representative, and for 2 years as a credit and debt counselor. In those capacities, he helped clients avoid bankruptcy, pay off debt, manage their finances, and increase their credit score - skills which make him a valuable resource to his clients.

Nelson attended the University of Utah where he earned a BS in Organizational Communication in 2002, and Master of Business Administration in 2007.

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Nelson and Gloria were extremely helpful and always got back to me quickly and took the time to explain the process to me. I cannot recommend them enough!Peter Spence

NMLS# 201517

State Lic: UT: 5502102; ID: MLO-22280;

Corp Lic: UT: 5491140-MLCO; ID: MBL-671;


Housing market and strengthening economy are good news

Many home construction company gains occurred during periods of low U.S. home mortgage and other related rates. CNBC reported iShares Home Construction ETF saw a 7.6% average return, Masco averaged around an 8.4% gain, D.R. Horton reported an 8.7% average return, Lennar gained 10.1% and PulteGroup saw the highest average return of  14.8% during low rate and strong growth periods. 

Historical evidence for improvement of housing-market-related stocks. CNBC took a look at previous situations to determine a projection for the future of the housing market. In 1980, the 10-year Treasury yield dipped under 2.5%, and gross domestic product teetered above 2%. The result of these two numbers meeting instigated four quarters when home? builder stocks skyrocketed. This pattern could be mimicked in 2015.

Kiplinger, a business forecasting and finance advising company based out of the District of Columbia, reported GDP at 2% during the fourth quarter, MarketWatch noted that the current 10-year Treasury dropped to 2.19% Dec. 30. These conditions mimic those observed previously and lead economists to forecast a great year in 2015. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit to find a loan, get a rate, or calculate your payment today.


Predictions for the housing market in 2015

As the new year approaches, specific factors and trends may impact the market. Fortune indicates that new jobs, preferences of the new generation of homebuyers and population growth may control the 2015 housing market. In addition, changes to mortgage rates, home values and the number of housing starts and sales may determine how well the market performs in the upcoming year.

Millennials dictate the growth or decline of the market. Previously baby boomers were the largest generation to bolster the housing market. However, millennials are about to fill those shoes. The generation consists of those aged 18 to 34. The U.S. Census Bureau reported the presence of 73 million millennials in the U.S., which is the largest generation in three decades. 

Additionally, Fortune noted that this generation may look to purchase homes and begin their own families in the coming year. 

Jonathan Smoke, chief economist at, relayed that in the next five years, millennials will be responsible for two-thirds of all new households and believed 2015 will be the year that this generation's presence will impact the housing market. 

In addition, Smoke indicated that the improving economy and job market may directly impact this generation more than any other demographic in the nation. The job growth that millennials benefit from proves to be 60% better than the rest of the country, according to Smoke. The improvements seen in the economy prompt this young generation to move into new homes, begin planning for a family of their own and serve as a propelling force for the U.S. housing market in future years.

However, Fortune also indicated that millennials may continue to be more interested in purchasing and building homes in less affordable areas in the U.S. In addition, these preferred regions pose problems for the construction of new homes. 

Mortgage rates and home sales and starts predicted to increase in 2015. Despite failing forecasts of lower home loan rates this year, economists insist 2015 will have higher rates for U.S. home mortgages. Many of the economists Fortune polled forecasted an average 5% rate for 30-year fixed mortgages by the end of 2015. 

Freddie Mac forecasted a more conservative rate of 4.6%for a 30-year FRMs

Additionally, Freddie Mac expects a jump in home starts and sales in 2015. The company anticipated a 20% leap in housing starts and a 5% increase in total home sales in the upcoming year.

With regard to housing starts, Freddie Mac proposed that these will primarily consist of single-family homes and rental apartment space.

Home values forecasted to continue growing. In the Fortune poll, nearly all economists agreed on home values' continual rise but forecasted that this would take place at a far slower pace. The rebound after the housing market crisis in 2008 propelled the rapid acceleration seen in years previous. Now, economists predict that the rebound may be losing steam.

The increase in home value paired with rising mortgage rates might contribute to lower affordability.

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit to find a loan, get a rate, or calculate your payment today.


Home Purchase Affordability Increases

Purchasing a home might become more affordable than renting real estate in the next three years, according to a report released by Capital Economics, an economic research consultancy headquartered in London. Rent is predicted to rise. As the U.S. economy improves, renting real estate becomes pricier and less attainable for first-time homebuyers and individuals with a lower income. Capital Economics predicts that the annual average rate will rise 5% or more over the next few years. The improving employment rate among Americans has also contributed to the rising cost of rent. In addition, millennials have had a tendency to rent, which increases the demand for leased property. In a survey taken by, 41% of property owners saw more millennials renting over the past year. The student loans that this generation has accumulated has made applying for a conventional mortgage more difficult. U.S. News and World Report also conveyed that many millennials are taking advantage of the amenities and accessibility to the city offered by apartments. These factors have driven more millennials to rent, consequently increasing demand and giving an opportunity for rental rates to steadily increase. Home affordability has improved. The down payment necessary to purchase a home keeps many potential homebuyers from moving forward with the process. Some lenders require as much as a 20 percent down payment to qualify for a U.S. home mortgage. Government-affiliated mortgage lenders like Freddie Mac have announced a new program that offers potential borrowers the opportunity to qualify for a mortgage with a down payment as low as 3% of the total value of a home. This opportunity is specifically designed to encourage the purchase of real estate by first-time homebuyers. Home affordability improves with the increased accessibility to mortgages and increased employment rate. Potential homebuyers are more confident moving forward with the purchase of a home when they have more job security. In addition, interest rates for mortgages are at historical lows, making homebuying more appealing than ever. However, the annual percentage rates affixed to mortgages are predicted to rise according to the source. While rent is forecasted to rise 5%, house price inflation is expected to fall to 4% over the next few years according to Capital Economics' findings. Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit to find a loan, get a rate, or calculate your payment today. ×