Overpriced housing? (Knoxville, Johnson City, Kingsport: house, neighborhoods, buyers)

[hiknapster]

So I checked Trulia since I haven't heard any prices in Tennessee were suddenly out of line.

Most recent median sales prices:

Memphis 86,250

Bell Buckle 92,900

Bristol 100,267

Kingsport 109,400

Chattanooga 109,900

Johnson City 126,519

Knoxville 134,284

Murfreesboro 144,000 (Where 12buttons use to live!)

Nashville 160,000

Collierville 269,000 (Memphis suburb)

Franklin 320,000

Brentwood 378,000

Johnson City seems a bit "highish" considering the area but I think it might be attracting retirees. Not my cup of tea but it looks like there are plenty of other places to choose from in the northeast part of the state. Bristol and Kingsport prices don't seem out of whack at all nor does any other area on this list.

The OP lives in Buffalo, NY where the median sales price is now $82,000.

[Beretta]

Mod Note: Moved to main TN forum and title changed since the posts actually were about housing prices all over the state and not just Knoxville.

[corvidae]

I don't think the tri-cities are expensive, at all. You must not be looking very hard.

[BirdieBelle]

OP your attitude is so ... off-putting. Have you ever actually been here?

I'm thinking you have this really poor preconceived notion of what you think Tennessee is like based on the way you pooh-pooh what the agents are telling you. You threw all these grenades in the Nashville forum earlier this week, and now you're here, rolling your eyes and sticking your tongue out.

Do you WANT to move here or not?

The truth is that Tennessee has been attracting a lot of attention (in part because of the TV show but in reality because of the friendly people, low taxes and well-managed state govt) and a lot of people want to move here. So ... rising demand with a limited supply means ... increased prices.

Yes, the stories you've heard are true. I had a neighbor who listed her house last month in the mid-$400s and had four offers the first day. Two went into a bidding war, and she signed a contract for $12K over asking price.

So do you want help or do you just want to *****?

[EVAunit1981]

Rural west TN has low prices. Where I live the median house value was just below $93,000 in 2009 and median rent was just below $500.

But I second Wmsn4Life's opinion of the OP.

[Memphis1979]

Hell I'm buying a 3000 sq ft home for 212000, appraised for 226.

[Leonard64]

Originally Posted by 12buttons

what areas would you say get the highest dollars per sq ft in the metro region?
What areas are considered cheapest?

Which would you consider to be underpriced, (or a better bargain)?
How's the spring market going so far? How's the inventory? Which market is hottest? Sub 200k? 200-300k? I doubt it's the 300k-nosebleed prices...

As a buyer, I just started my search into TN..so I made a few calls to get the tone of the market in some areas..of course agents are the LAST ones to ask ..ya know it's always raining house contracts where they live...

for instance,I heard houses are flying off the market in Nashville ( somethin' to do with that dang new TV show...everybody wants to move next door to Nicole Kidman I guess) Outside of Nashville, not so crazy but stable.

And I had an agent in Memphis tell me that if you see a house online today, chances are it will be sold by the time you git yer butt down here and buy buy buy...and never mind about that silly old school issue in Germantown or crime in the city or our ridiculous taxes!!

Then I checked out Johnson City and Kingsport and Bristol ..yikes --the house prices there are expensive!!!!
What's that all about? It's not like you're getting a ton of services or WHole Foods, Trader Joes type shopping...is it the mountain air or the ????

Where's the biggest bang for your buck these days anyway? With ample inventory so you don't have to go chasing or bidding up a house?

2013 is a very tricky market for buyers...

East TN; and while the market is improving the prices are not changing significantly, just inventory being sold and a few new ones built.

[12buttons]

Originally Posted by Wmsn4Life

OP your attitude is so ... off-putting. Have you ever actually been here?

I'm thinking you have this really poor preconceived notion of what you think Tennessee is like based on the way you pooh-pooh what the agents are telling you. You threw all these grenades in the Nashville forum earlier this week, and now you're here, rolling your eyes and sticking your tongue out.

Do you WANT to move here or not?

The truth is that Tennessee has been attracting a lot of attention (in part because of the TV show but in reality because of the friendly people, low taxes and well-managed state govt) and a lot of people want to move here. So ... rising demand with a limited supply means ... increased prices.

Yes, the stories you've heard are true. I had a neighbor who listed her house last month in the mid-$400s and had four offers the first day. Two went into a bidding war, and she signed a contract for $12K over asking price.

So do you want help or do you just want to *****?

not that I have to explain myself to you especially considering your personal attack, but I lived in Nashville for a year before purchasing a home in Rutherford county and lived there for five years. I still own investment property in the nashville area. Please do me a favor and do not respond to any of my posts.
I think an apology from you is in order.

[vivelafrance]

Originally Posted by 12buttons

not that I have to explain myself to you especially considering your personal attack, but I lived in Nashville for a year before purchasing a home in Rutherford county and lived there for five years. I still own investment property in the nashville area. Please do me a favor and do not respond to any of my posts.
I think an apology from you is in order.

I have to agree with wmsn here. Many on the Nashville forum have tried to give you advice and be courteous but you always derail threads and continue to complain without taking the advice. I'm not sure what you're looking to get out of this forum with that kind of attitude.

[nashvols]

Originally Posted by 12buttons

not that I have to explain myself to you especially considering your personal attack, but I lived in Nashville for a year before purchasing a home in Rutherford county and lived there for five years. I still own investment property in the nashville area. Please do me a favor and do not respond to any of my posts.
I think an apology from you is in order.

You'll get nothing and like it.

For someone that has lived in the area for 6 years, you don't seem to have picked up on...anything. While I am generally happy with the thought of you moving away from here, I do feel bad seeing that you're looking elsewhere in Tennessee, and that you'll be a thorn in another area of the forum's side for years to come.

Have you thought about Kentucky?