Erwin
Erwin, TN · Real Estate
The Newport Plain Talk
ITH's Buffalo Creek customers to start receiving refunds
NEWPORT — The Plain Talk has received a copy of an email sent to customers who had bought into Incredible Properties’ Buffalo Creek development, which is located off Industrial Road. The email, which was sent Wednesday morning, indicates refunds will be issued to those who reserved lots in the unfinished development. Buffalo Creek is located across from Tiny Towne, a tiny home development at 850 Industrial Road. Customers had been complaining about the delays in the project, and Cocke County Regional Planning Commission has repeatedly asked for Randy Jones, co-founder and owner of Incredible Tiny Homes, to attend a meeting. None of the company’s developments have had site plans approved by the planning commission. To live on property owned by ITH or Incredible Properties, the homebuyers must pay a deposit, sometimes called key money, for the opportunity to rent a lot. That lot deposit is considered non-refundable. The email reads: “Starting July 1st we will mail $1,000 per month to each of you toward your non-refundable lot deposit for Buffalo Creek. To ensure a timely delivery please email me the best address to send the check; otherwise, it will be sent to the last known address we have on file.
wcyb.com
Bristol Sportsplex listed for sale
BRISTOL, Tenn. (WCYB) — The Bristol Sportsplex is listed for sale by the Addington Agency. The property includes tennis, pickleball, indoor soccer, fitness, and a full-service restaurant and bar. The current owners bought the property in 2020 and renovated it to be what it is today. In 2023, the...
donfenley.com
Refinancing Quietly Becomes Largest Driver of Tri-Cities Mortgage Activity
The Tri-Cities outran the national mortgage market this past year, but the strength was in refinancing, not home buyers. Take refinancing out of the picture and the local market looks like everyone else’s – buyers squeezed by affordability. The refi flip points to a market that is deeply equity-driven rather than transaction-driven.
donfenley.com
Johnson City Retail Space Remains Landlord-Tight
The Johnson City metro area remains one of the tightest commercial retail space markets around. The metro area’s vacancy rate is holding at 2.4%, which is well under half of the national rate. According to an analysis by the National Association of Realtors (NAR) local retail space is “weaker...
donfenley.com
Johnson City Apartment Rents Cool
Johnson City is a healthy market, but it is no longer the standout it was. Multifamily vacancies have increased to 6.1% from 3.6% this time last year. The metro is now tracking closer to national conditions as a wave of new units gets absorbed. Vacancy climbed because supply increased. According...
donfenley.com
Johnson City office market stays tight as the nation digs out
Office vacancy in the Johnson City MSA held at 2.3% so far this year. It’s roughly 15 percentage points below the national rate. Tightness, not weakness, is the binding constraint. The National Association of Realtors’® (NAR) analysis is that local office demand is “weaker than nationwide” on absorption is...
WJHL
Holston Habitat Homeownership Program opens June 1
TRI-CITIES, Tenn. (WJHL) – Applications will open beginning June 1 for the Holston Habitat for Humanity Homeownership Program for those looking to become homeowners. According to a release, 11 individuals and/or families will be selected in this round for a single-family home in Bristol, TN, and two single-family homes and four duplexes in Johnson City, […]
WJHL
NETAR representative explains if Kingsport houses are overpriced
KINGSPORT, Tenn. (WJHL) – A recent MoneyLion article said Kingsport is within the top 50 places with overpriced homes. However, a local real estate expert said there is more to the story. Don Fenley, who does market research and data analytics for the Northeast Tennessee Association of Realtors, said the numbers in the article are […]