Fort Blackmore
Real Estate
Mount Carmel BMA discusses proposed 20 cent property tax increase
During its May 11 workshop, the Mount Carmel BMA discussed a 20 cent property tax increase, raising from 1.38 to 1.58, which would increase property tax revenue by an estimated $180,000. City Manager Emily Wood recommended the property tax increase to offset a projected $168,395 deficit in the proposed 2023-24 budget. Most of this imbalance stems from the library needing a new roof, the increased costs of running streetlights, and...
Johnson City new house permits down sharply in 2023
JOHNSON CITY, Tenn. (WJHL) — Local realtors and housing industry experts say home availability continues to be tight, but the first four months of this year saw a slowdown in new house permits in a number of area markets compared to 2022. Permits for new single family homes are down sharply in Johnson City for […]
Local 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 30,000-foot view. The area has experienced steady economic growth in recent years, and this has created a strong demand for commercial real estate. Currently, […] The post Local commercial real estate weathering economy’s volatility appeared first on www.elizabethton.com.
Cities with the most expensive homes in the Kingsport metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers. High mortgage rates are also making monthly payments more expensive; as of May 4, the 30-year fixed mortgage rate sits at 6.39%. The typical home value in the United States increased over the last year by 3% to $334,994. Although home...
Commercial real estate transactions tread water
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 sales and leases were down 18 percent from last year. The only positive number from the Northeast Tennessee Association of Realtors (NETAR) March report was a comparison of […] The post Commercial real estate transactions tread water appeared first on www.elizabethton.com.
Summit confronts middle class housing affordability in Tri-Cities
BLOUNTVILLE, Tenn. (WJHL) — The days of the Tri-Cities being a reliable bastion of affordable housing are over — and a group of leaders gathered Thursday want to keep a challenge about housing prices from becoming a crisis. “The trajectory is, housing has increased in prices rather dramatically — what didn’t keep pace was wages,” […]
Tri-Cities realtors report home sales are increasing while prices decrease
GRAY, Tenn. (WJHL) – The Northeast Tennessee Association of Realtors (NETAR) is reporting an increase in area home sales as prices dip. New statistics reveal sales were up 43 percent from last month. These numbers mean good news for buyers as realtors state sellers dropped their asking price on 34 percent of those sales. Officials […]
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