New pending home sales softening

New pending sales declined in April as the local market reacted to the economic fallout from the coronavirus pandemic.There were 688 new contracts (pending sales) at the end of the…
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How to make the best purchase offer in a seller’s market

You’ve worked with a REALTOR® to scour the listings, toured what feels like a million listings, and finally found it: the house you want to call home. The next step is…
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Realtor®-Client relationship more critical now than ever

By KRISTI BAILEY During these chaotic times, the single most crucial thing anyone planning to buy or sell real estate can do is to partner with the right REALTOR®.   Media…
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April home sales down 17.9%; sales price up 14.9%

In April, home sales were down by 17.9% in Northeast Tennessee. However, home prices increased by almost an equal percentage. According to the Northeast Tennessee Association of Realtors (NETAR), 543…
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The who, what, when and why of a home inspection

Homeowners who want to sell must give buyers a disclosure of the property’s known defects. Unless the buyer agrees to buy the property “as is,” one of the steps is…
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Realtors® Report That 77% of Potential Home Sellers are Preparing to Sell Following End of Stay-At-Home Orders

WASHINGTON (May 7, 2020) – More than 3 in 4 potential sellers – 77% – are preparing to sell their homes following the end of stay-at-home orders, with half completing do-it-yourself home…
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Days on Market a housing marketing tool and a market indicator

The Days on Market (DOM) metric that’s typically at the bottom of the Northeast Tennessee Association of REALTORS® (NETAR) Trends Report is more than just a data point. It’s a…
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Mortgage forbearance – the good and the not so good

There are so many housing market hot topics these days that you need a helicopter to say above them. One that’s of interest to homeowners and real estate professionals is…
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New pending home sales see a small increase in March

The economic fallout from the coronavirus pandemic did not have much effect on new contracts for residential resales in March. There were 798 new contracts (pending sales) at the end…
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How to take the pulse of the housing market

The March housing numbers didn’t follow suit with the early coronavirus pandemic drama from other parts of the economy. In fact, sales and prices were pretty much what was expected.…
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A Quarter of Realtors® This Week Report Homes Coming Under Contract Without Buyers First Visiting the Property

WASHINGTON (April 16, 2020) – A quarter of Realtors® with clients putting contracts on homes this week had at least one do so without physically seeing the property, according to a…
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March home sales down 8.4%; first-quarter sales up 1.1%

Tri-Cities home sales were down 8.4% from March last year and up 1.1% from the first quarter of 2019, according to the Northeast Tennessee Association of Realtors. There were 568…
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Each April REALTORS® reaffirm their commitment to the Fair Housing Act

This year’s observance of Fair Housing Month is not happening as planned. Consumers and real estate professionals are currently preoccupied with making the best of the situation we are in…
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With a Spring Real Estate Slowdown Expected, NAR Survey Finds Many Realtors® Hopeful for Post-Pandemic Market Rebound

WASHINGTON (April 9, 2020) – With an expected slowdown in spring real estate business activity, many Realtors® remain hopeful for a post-pandemic market rebound, according to a new survey from the…
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Realtors are innovative, redefining how real estate gets done

It is definitely not business as usual, but REALTORS® are innovative. They are adapting to representing clients during these upside-down times. With current safer-at-home orders and other COIVID-19 driven situations,…
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Housing market sails into uncharted waters

You can depend on COVID-19 pushing the local prime home buying and selling season onto uncharted waters this year.  In the short-term, you can rely on housing and economic data…
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Real estate and the coronavirus – take a deep breath, stay focused

Coronavirus is the housing market disrupter that no one could have seen coming.  And it arrived hand-in-hand with the first look at February’s Northeast Tennessee Association of Realtors® (NETAR) market…
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NAR Survey Finds Nearly Half of Realtors® Say Home Buyer Interest Has Decreased Due to the Coronavirus Outbreak

WASHINGTON (March 19, 2020) – Nearly half of Realtors® – 48% – said home buyer interest has decreased due to the coronavirus outbreak, according to a new survey from the National Association of Realtors®.…
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Pending home sales cancellation rate may increase

There were about 1000 approved contracts for residential resales awaiting approval at the end of February, according to the Northeast Tennessee Association of Realtors’ (NETAR) latest report. Those contracts were…
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Tri-Cities Commercial Real Estate sales, leases, permits up – volumes down

It wasn’t the best year. But it wasn’t the worst. When you look at the data, 2019 was an OK year for the Tri-Cities Commercial Real Estate (CRE). Sales, leases,…
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Here’s why foreclosure buyers need a buyer’s agent

There was a time when the first words a REALTOR® would hear from a new client was, “What kind of foreclosures are there out there?” Those days are gone, but…
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COVID 19 Information *UPDATED FREQUENTLY*

As the coronavirus remains a growing concern in the U.S. and in Tennessee, our leadership would like to assure you that we are prepared, and that we are keeping a…
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Tri-Cities home sales take a breather

February Tri-Cities’ home sales took a breather from the double-digit increase we saw in January with 30 fewer closings. “Don’t read too much into that,” said Northeast Tennessee Association of…
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Listing price strategy takes on new importance

The initial listing price of a property is one of the single most essential items in a successful real estate transaction, and it does not matter if the market is…
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Low mortgage rates, tight inventory pressures selling strategy

EDITOR’S NOTE – The rate droped to 3.45 percent after this item was written. Do not look for mortgage rates to be a big home sales driver this year. Even…
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Pending home sales trend posts double-digit gain

The Tri-Cities pending homes sales trend posted a double-digit gain over January 2019, according to the Northeast Tennessee Association of Realtors (NETAR) Pending Sales Report. Pending sales are a leading…
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January home sales post double-digit gains

The local housing market started 2020 the same way it ended 2019 – with a bang. January resales were up 16.5%, and there was a tidy 3.3% sales price appreciation.…
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Tri-Cities housing market begins the year with a double-digit sales increase

The Tri-Cities area home sales were up 16.5% in January. The average residential resale price had a 3.3% improvement.   “This is a promising walk-up to the 2020 prime buying and…
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There’s no substitute for partnering with the right Realtor®

The single most important thing anyone planning to buy or sell real estate this year can do is to partner with the right REALTOR®.  All the signs point to a market…
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A flipped home can be great find or a money pit

Unless you are a cash buyer, there is no way around the fact that things can be tough in today’s housing market – especially if you are a first-time buyer…
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Housing market metrics signal, “Now is an excellent time to sell!”

Mortgage rates fell to their lowest point in three months at the end of January, and we are only one-quarter of a percentage point above the all-time low. According to…
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Pending home sales increase for a 2020 sellers’ market

Tri-Cities pending homes sales posted a small increase over November’s total while year-over-year and the moving average trend surged, according to the Northeast Tennessee Association of REALTORS® (NETAR) latest report.…
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Home sales study says single-women tend to buy high and sell low

The folks who specialize in marketing and demographics will tell you women are the principal spending influencers, and that will only increase in the future. Women outnumber men in college…
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2019 was another record-setting year for the local housing market

Wow! That’s the first impression when you look at what the Tri-Cities area housing market did in 2019.  Here are just a few of the milestones. It saw the best annual…
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December home sales lift 2019 housing market to new highs

December was a strong month for the Tri-Cities region’s housing market, and it lifted annual sales and prices to new highs. Kristi Bailey, NETAR 2020 President, said 2019 saw several…
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November pending home sales trend increases despite lagging inventory

Tri-Cities pending homes sales posted an 8.9% seasonal decline November after increased in October, according to the Northeast Tennessee Association of Realtors’ (NETAR) latest report. The year-over-year contract signing short-term trend…
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