By DON FENLEY Tri-Cities foreclosure filing during Q1 increased 23% compared to the same period last year. Notice of Trustee Sales was the increase driver. According to RealtyTrac’s Q1 Foreclosure Market Report, REO filings in the NE Tennessee Tri-Cities counties was down in Q1 in all the counties except Sullivan where the total was unchanged […]
By DON FENLEY Early April has seen aggressive discounting from listing prices in most of the region’s city housing markets. According to Realtor.com’s current tracking the average highest percentage and dollar reduction in the major city markets have been made in Bristol, VA. The second largest average dollar discounts came in Johnson City. Here’s the […]
By DON FENLEY Tri-Cities home prices continued advancing a softer price trend according to the current CoreLogic Home Price Index. Prices in both of the MSAs that make up the Tri-Cities are positive when compared to the same months of the previous year, but have been receding since last September. In February the Tri-Cities’ HPI […]
Local housing markets get buy rating from reports; why did developer pull the plug on Johnson City high-end apartments?
By DON FENLEY According to a study by RealtyTrac, monthly house payments on a median-prices home is more affordable than the monthly fair market rent on a three bedroom property in 76$ of the U.S. counties included in the analysis. Johnson City was the only local MSA that was part of this study and the […]
By DON FENLEY Tri-Cities December year-to-year new home closings put the Kingsport-Bristol and Johnson City MSAs in a neck-to-neck 2014 finish. According to Builderonline, there were 60 closings in the Johnson City MSA and 59 in Kingsport-Bristol. But the 12-month closings comparison and market share were the only similar data points. The 12-month new home market […]
By DON FENLEY Although foreclosure rates drifted slightly higher in December and January the overall trend the for Johnson City MSA continues to be downward. According to CoreLogic’s current report foreclosures among outstanding mortgage loans was 0.61% in January, a decrease of 0.08 points compared to January 2014. Foreclosure activity in Johnson City was lower […]