Posts by Don Fenley
Johnson City snares $500K hot-spot status, but…
GRAY – Everyone knows Johnson City is the region’s top housing market. That’s a fact. But last month its 82 sales were second place to the 95 in Kingsport. Where…
Read MoreApril Pending Sales Increase – Prices Pick Up Momentum
GRAY, TN – April’s pending sales increased as the market slogged into the prime home buying and selling season. Last month they stood at an eight-month high after sellers accepted…
Read MoreLocal commercial real estate weathering economy’s volatility
GRAY – Despite a transactions slump, concerns over bank reactions to stress from a spat of bank failures, and inflation fears the local commercial real estate outlook is positive. Here’s the…
Read MoreAffordable housing isn’t another term for government help
Despite some common public opinion, affordable housing is not another name for government assistance. The two primary formulas to gauge affordability are the financial model and the percentage of income…
Read MoreLocal home sales decline, prices increase
GRAY – The 2023 Housing Market Restructuring continued in April with fewer local home sales and prices inching higher. “The market is performing much the same it has for months,”…
Read MoreGuard against shoddy work on home flips, restorations
Flipped homes are an important part of the local housing market. They account for about 10% of existing home sales and half of them are always in the affordable and…
Read MoreVeterans and VA loans a big part of the housing market
GRAY – Home owners like fast, uncomplicated closings. Frequently they back away from VA loans because they believe deals are risker and a pain in the process. According to mortgage…
Read MoreMost cash sales are $100K or less deals
Anecdotes about cash-flush, out-of-town buyers snapping up local homes are so common some think they are the norm and one of the reasons local home prices have increased so much. …
Read MoreMarch Pending Sales Increase; Inventory Inches Higher
GRAY, TN – Pending sales offered its version of mixed NE TN – SW VA housing market signals in March. The number of accepted contracts increased. That’s what you would…
Read MoreCommercial real estate transactions tread water
GRAY, TN – Commercial Real Estate transactions were treading water on the two local commercial databases in March. Last month’s total lagged March last year by 32 percent. First quarter…
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