Kingsport & Bristol home prices buck the national trend... (Knoxville: sale, rental)

[kamoshika]

Housing prices in the Kingsport and Bristol metro area increased 5.09 percent in the past year and a whopping 33.57 percent in the past five years.
Kingsport home prices buck the national trend

The article above incorrectly states that "[f]or the Kingsport and Bristol metro area, the report shows that home prices in the first quarter rose 0.62 percent vs. the same period of 2007 — the 27th best appreciation rate in the nation." While that appreciation rate is correct, Kingsport/Bristol's No. 27 national ranking actually applies to the annual appreciation rate (5.09%) from Q1 2007 to Q1 2008. FWIW, that rate is higher than those in Knoxville, Nashville, Charlotte and Asheville.

Ranked Metropolitan Statistical Areas and Divisions (scroll down to pp. 27-39 to see the complete list)

[fallfanatic]

I guess that means the secret is out? See, y'all are so friendly and helpful that almost everyone is moving to NETN!!!
That should be good for employment,business, etc... though more expensive to buy a home.(I told y'all I couldn't get there quick enough, now I have proof.)

[Tennesseestorm]

Well, my parents informed me last night that they have
decided to sell their rental property. It was getting to be a headache - liars, non-payers, etc.

At first, they were going to let someone simply assume the loan, but after phoning the finance company today they have it financed through, they said that the loan cannot be assumed and that the buyer would have to get a new loan, or simply pay it off. When I first advertise it last night for that, we had emails out the boo-koos and phone calls! Maybe no ones credit can stand up? I "revised" it and said they need to sell it for $12750 - only one interested party so far. The thing is, it could be a real money maker. Its directly across from BMS and could easily rent out for $3000 per race! It would pay for itself in no time- then pure profit. They just want shed of it - pay it off and just a little extra to pay off some credit cards.

Heck, cannot even buy a late model used car for $12K. Its not Biltmore, but I think a good price on a comfy home.

Its been awhile since they have sold a home, so it was decided to sell it for the minimum.

There was a little house that I seen in Bristol that I liked, but way to pricey for what it was.

[mexicomike]

I've seen this discussion elsewhere. Where the problem comes is---what homes are SELLING? If the lower priced homes are selling during a certain period, then the median sale price, of course, goes down. It is only when you compare the sale of the SAME place that you really see an up or down trend.
Thanks for the link to the timesnews.net however. It is quite interesting.

Mike