Are Home prices falling in NE TN? 2023 Update

We took local MLS Data, TN state numbers, and national housing data and put together our thoughts on whether we expect home prices to fall in north east Tennessee in 2023. We talk about how the demand has shifted due to the mortgage rate increases and run-up in real estate prices, and how that is affecting our market.
Thinking of moving to Tennessee or Virginia? We're specialists in helping people relocating from out of the area. Feel free to reach out to us for our thoughts and/or more information. We want you to make the decision that's best for you.
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Here's a list of active listings in the Johnson City area - myre.io/0UmEcRpv4TDb
Reach out to us if we can answer any questions or help.
Scott & Kim Henninger with The Home Team
(423) 295-8009 (Cell)
Brokered by exp Realty
Licensed in TN and the Commonwealth of Virginia
Office - 888-519-5113 ext 384 - TN
Office - 703-665-3362 - VA

Пікірлер: 18

  • @paulbjork2869
    @paulbjork2869 Жыл бұрын

    Very helpful information, thank you.

  • @realestaterealtalkwithsesta
    @realestaterealtalkwithsesta Жыл бұрын

    Great information! Thank you!

  • @TNVAHomeTeam

    @TNVAHomeTeam

    Жыл бұрын

    Glad it was helpful!

  • @nicoleb7829
    @nicoleb7829 Жыл бұрын

    I’m curious how things are now compared to when this was made in January?

  • @danhattaway3513
    @danhattaway3513 Жыл бұрын

    I subscribed, I like the Bristol area and want to move there soon.

  • @wholovesyababy5574
    @wholovesyababy5574 Жыл бұрын

    I'm very interested in moving to Northeast Tennessee, but I don't know where exactly. I'm considering the Knoxville area, and also the Johnson City area. Recently, I have been watching videos of Jonesborough. I hope to come down and spend time looking around. I was thinking of renting for 6 months and exploring the region. Seeing what activities I could get involved in and where I might make friends. In short, where I would be happy to live. One thing I really would like to have is natural gas. I have to find out where that is available. I don't want an electric stove, or a propane tank. I would also prefer a sewer system to a septic tank too. And I need good internet. Is broadcast TV available, or only cable? Many considerations. Thanks for your great videos.

  • @TNVAHomeTeam

    @TNVAHomeTeam

    Жыл бұрын

    As long as you are in the city limits, you should be good on the sewer & internet. Broadcast TV is available. There are ABC, NBC, and CBS stations in the tri-cities. Natural gas isn't as simple, as it is spread out in different areas, but it is indeed available. Thanks for the kind words.

  • @laceyschwab7181
    @laceyschwab71815 ай бұрын

    Looking to move 🎉 possibly to tn

  • @nPcDrone
    @nPcDrone Жыл бұрын

    Selling my homes in the north and buying in Tennessee within the next 2 or 3 years.

  • @alissawhite8772
    @alissawhite8772 Жыл бұрын

    Very informative video! I had a question for you, I looked up what the mortgage interest rates are predicted at for 2025 (the year I plan to move to NE Tennessee) and they are predicting interest rates to be at 15%!!!!!!! As a realtor, have you heard this, as well, because if it is true moving to NE Tennessee will be out of the question for me, financially. I am deeply saddened by this information and would truly appreciate your input on this regarding whether or not you think that the predicted interest rates are correct. Thank you so much!!

  • @TNVAHomeTeam

    @TNVAHomeTeam

    Жыл бұрын

    I can't imagine a realistic scenario where rates would be anywhere near that high. The last time 30-year mortgage rates were that high, the Federal Reserve rates were in the high teens also. As long as a slight recession happens this coming year or two, there's no way the feds would raise rates anywhere near that in that range. Everyone is kind of expecting no higher than 5.75% this year, probably lower. Take a look at this article by Forbes - www.forbes.com/advisor/mortgages/mortgage-interest-rates-forecast/

  • @danielspencer5023
    @danielspencer50236 ай бұрын

    What if any advantage do mortgage-free homeowners have wanting to purchase a different home at this time in the marketplace?

  • @TNVAHomeTeam

    @TNVAHomeTeam

    6 ай бұрын

    If you're able to pay cash, you might expect a 3% - 5% discount off of the list price, especially on newer listings. Maybe more on homes sitting on the market for awhile. It really depends on the seller's motivation and needs but that's a guideline.

  • @gemsgems1174
    @gemsgems1174 Жыл бұрын

    How about rentals, apartments, cottages?

  • @TNVAHomeTeam

    @TNVAHomeTeam

    Жыл бұрын

    That market is just as tight as the housing market. I've heard that apartment prices had been increasing,, but compared to a lot of other cities I've looked at, our rent is pretty reasonable.

  • @gemsgems1174

    @gemsgems1174

    Жыл бұрын

    @@TNVAHomeTeam thank you

  • @GodswillBDone4WeThePeople
    @GodswillBDone4WeThePeople Жыл бұрын

    Guarantee once everyone sees how police are policing TN going fall in 3rd world prices and actions

  • @countrymiddleton1519
    @countrymiddleton1519 Жыл бұрын

    Y’all’s home and land prices are frigging highway robbery.!