The Season of Giving... But Don't Get Scammed
Jacob Force • December 16, 2025
The Season of Giving... But Don't Get Scammed
The holidays bring out the best in people—generosity, warmth, and community spirit. But unfortunately, this season of giving also attracts those looking to take advantage of trusting homeowners. As Northeast Tennessee Realtors Association President Wayne Porter warns, the region's remodeling boom has created fertile ground for scammers to operate.
Our local housing market tells an important story. The average existing home sold in Northeast Tennessee is roughly 44 years old, significantly older than the national median of 36 years. These aging homes need updates, and with limited housing inventory pushing more residents toward remodeling instead of moving, demand for contractors has never been higher. When projects range from $100,000 to $200,000 or more, scammers take notice.
The consequences are real. Local cases like the conviction of Joe Wood of Wood Construction and Remodeling, who received 10 months of electronically monitored home detention contingent on full restitution to his victims, demonstrate how devastating contractor fraud can be for families. (For more details, visit https://www.wjhl.com/news/local/wood-construction-owner-gets-10-months-home-detention/) Stories of unfinished projects, shoddy workmanship, and broken promises are becoming all too common.
Protect yourself by watching for these red flags:
- No physical office or vague business addresses
- Refusal to provide licensing or insurance proof
- Demands for large upfront deposits beyond state limits
- Unsolicited "discounts" or claims of leftover materials
- Contractor-arranged financing (often predatory)
- Suspicious online reviews that seem manufactured
- No detailed written contract provided
- Pressure to approve incomplete work
While the Tri-Cities area has many reputable, skilled contractors who take pride in their craft, the surge in remodeling demand has attracted less-qualified operators making promises they can't keep. Older homes present unique challenges—outdated wiring, aging plumbing, structural surprises—that require genuine expertise and proper permits.
Your best defense is diligence. Take time to verify credentials, check references thoroughly, obtain multiple bids, and read every contract carefully. Don't let holiday excitement or contractor pressure rush you into poor decisions.
The National Association of Realtors offers valuable consumer resources at Houselogic.com, including guides on screening contractors and managing renovation projects. Visit https://lookforther.realtor/remodel/ for expert remodeling advice.
This season, give yourself the gift of due diligence. A little research now can save you from turning your dream project into a financial nightmare.
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Understanding the Shift in Northeast Tennessee's Home Equity Landscape Recent data from ATTOM reveals a subtle but significant shift in Northeast Tennessee's real estate market. According to Don Fenley at Core Data, the number of equity-rich properties in the Tri-Cities declined by 3.6% during the third quarter, while seriously underwater mortgages increased by 0.4%. While these changes may seem modest, they signal an important transition that could affect local homeowners, buyers, and the broader market. What Does "Underwater" Really Mean? A seriously underwater mortgage occurs when a homeowner owes at least 25% more than their property's current market value—a loan-to-value ratio of 125% or higher. Across the Tri-Cities' 86,923 mortgaged properties, certain areas show higher vulnerability. Abingdon's 24210 zip code leads the region with 4.8% of mortgages seriously underwater, followed by nearby 24202 Bristol at 4.7% and 24211 Abingdon at 4.0%. Meanwhile, communities like Elizabethton maintain stronger equity positions, with 60.6% of properties equity-rich. Market Stabilization After Years of Growth Rob Barber, CEO of ATTOM, notes that "after several years of strong equity growth that peaked in 2022, homeowner equity levels appear to be stabilizing." For Northeast Tennessee, this means the rapid appreciation that benefited many homeowners is moderating. The modest fluctuations suggest our housing market is finding balance rather than experiencing crisis. However, this stabilization presents challenges for specific groups. Homeowners who purchased near market peaks or in areas experiencing slower appreciation may find themselves with limited options. Selling becomes difficult when proceeds won't cover the outstanding loan balance. Refinancing to lower interest rates or access cash becomes nearly impossible when underwater. This constraint keeps inventory tight and may prevent families from relocating for job opportunities or life changes. Implications for Buyers and Sellers For prospective buyers, understanding equity distribution across zip codes provides valuable insight. Areas with higher percentages of underwater mortgages may see fewer listings as constrained sellers wait for values to recover. Conversely, communities like Johnson City's 37604, where 59.5% of properties are equity-rich, may offer more inventory as homeowners have flexibility to sell. Current sellers with strong equity positions—the majority in most Tri-Cities communities—remain well-positioned to make moves. However, anyone who purchased in the past two years should carefully evaluate their equity situation before listing. Looking Ahead The increase in underwater mortgages, though still relatively small compared to national trends, warrants attention. Real estate professionals must help clients navigate this evolving landscape with realistic expectations about pricing and timing. The market isn't in distress, but the era of guaranteed rapid appreciation has given way to a more measured environment where location, condition, and pricing strategy matter more than ever.
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The recent federal government shutdown has created significant uncertainty in real estate markets nationwide, and East Tennessee is no exception. While our region's housing market has shown remarkable resilience, the ripple effects of a prolonged shutdown could touch local homebuyers, sellers, and the broader economy in ways many residents might not expect. Flood Insurance: An Immediate Concern The most immediate impact stems from the National Flood Insurance Program (NFIP), which lost its authority to issue new policies when the shutdown began on October 1. This program is critical for East Tennessee, where properties near rivers, creeks, and in flood-prone areas require flood insurance to complete transactions. With an estimated 1,400 property transactions threatened nationwide each day, local buyers and sellers in affected areas could face significant delays or even lost deals. While existing NFIP policies remain valid for 30 days and can be transferred to new owners, the growing uncertainty creates stress for families trying to close on their homes. The longer the lapse continues, the more precarious these situations become. Broader Market Disruptions Beyond flood insurance, government shutdowns typically trigger a cascade of delays that slow the entire real estate process. IRS income verification—essential for mortgage approval—can grind to a halt. FHA and VA loan processing, which many first-time homebuyers and veterans in our region rely on, faces significant backlogs. Federal housing program funding may freeze, affecting affordable housing initiatives in communities throughout East Tennessee. These disruptions hit particularly hard in a market already grappling with affordability challenges and limited inventory. East Tennessee has experienced strong demand and rising home prices in recent years, and any additional friction in the transaction process could sideline buyers who are already stretching their budgets. Economic Impact The stakes extend beyond individual transactions. According to the National Association of Realtors, the NFIP alone supports roughly half a million home sales annually, generating 1 million jobs and contributing $70 billion to the U.S. economy. Housing represents nearly 20% of the national economy, meaning prolonged shutdowns affect not just real estate professionals but contractors, home inspectors, title companies, and countless other businesses that depend on a healthy housing market. For East Tennessee's growing economy, a stable real estate market is essential. Local realtors continue advocating for swift congressional action to reauthorize the NFIP and end the shutdown, ensuring families and businesses can move forward with confidence.
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As your local Elizabethton real estate specialist, I'm pleased to share a comprehensive look at how our Carter County market has performed during the first six months of 2025. The data reveals fascinating trends that tell the story of a market finding its balance after years of dramatic changes. A Journey of Market Stabilization Looking back at our market's evolution, Elizabethton has experienced a remarkable transformation. In December 2024, our median home price peaked at $264,000, reflecting the tail end of the pandemic-driven price surge. However, the first half of 2025 tells a different story – one of gradual market correction and stabilization. By February 2025, prices had adjusted to $251,000, and our mid-year data shows we've settled at a year-to-date median of $240,000. This represents a healthy market correction of approximately 9% from the December peak, bringing affordability back to Elizabethton while maintaining strong underlying value. Steady Sales Activity Despite Regional Volatility With 169 homes sold through June 2025, Elizabethton achieved a modest 1.2% increase in sales volume compared to the same period last year. This steady performance is particularly noteworthy given the dramatic swings occurring throughout our region. While some communities like Bluff City saw explosive 95.6% growth and others like Surgoinsville experienced 42.9% declines, Elizabethton maintained consistent buyer activity. This stability aligns with the broader migration patterns identified by Don Fenley, who noted that while "new residents continued flocking to the Tri-Cities," the flow decreased by 30% in 2024. Our steady sales volume suggests Elizabethton continues attracting both local buyers and newcomers seeking value in the region. Regional Value Leader At $240,000, Elizabethton's median price positions our community as an exceptional value proposition. We're significantly below premium markets like Jonesborough ($405,000) and Piney Flats ($425,000), while offering comparable quality of life and access to regional amenities. Even compared to the overall Tri-Cities median of $278,048, Elizabethton provides substantial savings without compromising on community character. Looking Ahead The first half of 2025 demonstrates that Elizabethton's real estate market has successfully navigated the post-pandemic adjustment period. Our modest 0.42% year-over-year price increase indicates we've reached a sustainable equilibrium, offering both buyers and sellers a predictable market environment. For buyers, this represents an excellent opportunity to enter a stabilized market with strong value potential. For sellers, the consistent sales activity and price stability provide confidence in market conditions. As we move into the second half of 2025, Elizabethton's combination of affordability, stability, and regional connectivity positions our community as a smart choice for anyone considering Carter County real estate.
Fanatics and the Sports Card Market: A Game-Changing Shift: The sports card industry is experiencing seismic shifts as Fanatics secures exclusive licensing deals with major sports leagues, including the NBA, NFL, and MLB. Starting in 2026, Fanatics will take over card production from longtime industry leaders like Panini and Topps. This transition promises to reshape the collectibles landscape in ways that could dramatically impact card values and collector behavior. Positive Impacts on the Market: Fanatics bring significant advantages to sports card collecting. Their massive distribution network and retail partnerships could make cards more accessible to casual fans, potentially expanding the collector base beyond traditional hobbyists. The company's digital-first approach may introduce innovative features like QR codes linking to exclusive content, enhanced authentication technology, and seamless integration with fantasy sports platforms. Their financial resources dwarf those of current manufacturers, suggesting higher production values, better print quality, and more elaborate insert sets. Fanatics also has direct relationships with athletes through their merchandise deals, potentially creating unique autograph opportunities and exclusive content that previous manufacturers couldn't access. This vertical integration could lead to more authentic, player-driven collectibles. The company's tech-savvy approach may also address long-standing issues like counterfeiting through blockchain authentication and improved quality control processes. Potential Negative Consequences: However, this transition raises serious concerns among collectors. Fanatics lacks the decades of card-making expertise that Panini and Topps have cultivated. Their inexperience could result in design missteps, quality control issues, or products that feel more like corporate merchandise than authentic collectibles. The loss of competition could prove detrimental. Panini and Topps have pushed each other to innovate, creating diverse product lines that cater to different collector segments. A Fanatics monopoly might reduce variety and creativity while potentially increasing prices due to lack of competitive pressure. Established collectors worry about continuity. Long-running sets like Topps Heritage or Panini Prizm have built devoted followings over years. Disrupting these traditions could alienate core collectors who value consistency and heritage. Impact on Card Values: The transition period will likely create volatility in card values. Pre-Fanatics cards from established manufacturers may gain premium status as "final editions," similar to how Upper Deck baseball cards appreciated after losing their MLB license. Conversely, uncertainty about Fanatics' quality and design philosophy could suppress values until their products prove themselves. Long-term value impacts depend entirely on execution. If Fanatics delivers innovative, high-quality products while expanding the market, values could rise substantially. However, if they prioritize mass market appeal over collector-focused features, traditional hobbyists might flee to other sports or alternative collectibles, potentially deflating the entire market. The sports card industry stands at a crossroads, with Fanatics holding the keys to either unprecedented growth or potential disruption of a beloved hobby. If you need help evaluating or liquidating your collection, Please feel free to reach out. We are constantly looking for inventory for our sports card auctions. We market, auction, pack, and ship collectables around the county. Making Collins and Company Realtors and Auctioneers your one stop shop for collectable auctions.
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