It sure felt great to be outdoors this weekend. I’m more than ready for spring’s arrival, and it looks like it’s just around the corner.
The last day of February and the first days of March made up our week, and during the week the office recorded a total of 1,941 documents. The past three weeks we’ve had numbers over 1,900, and hopefully this current week will be no different.
Nick McBride
Property transfers for the week came to a total value of over $130 million between the 330 warranty deeds that were recorded. Four commercial properties over $1 million changed hands last week, with the most notable being the sale of the Greyhound Bus station on Magnolia Avenue. First Group Services Inc. sold the building and the parking lot to Knoxville Southern Station LLC for $1.45 million.
Firestone Complete Auto Care
The property of Firestone Complete Auto Care located at 6809 Maynardville Pike sold for $4.12 million. Bayrock Investment sold this valuable property to a private trust. Three units in the Downtown West Village Condominium retail center have a new owner. Straight Street LTD Co. sold the three units to Columbia Ventures, LLC for $1.75 million. And the last of the high value properties to be sold last week was the Overlook at Elk Hill Apartment homes overlooking the I-640 and I-75 interchange (Sharp’s Ridge area). This complex was sold by Cassell View LP to OSM Elk Hill LLC for $3.38 million.
Lenders were very busy producing paperwork for the 575 loans that were recorded. We recorded 20 loans over $1 million. The largest deed of trust last week was funded by HomeTrust Bank in the amount of $8.73 million. Home Federal Bank loaned $5 million; Busey Bank $3.12 million; ORNL Federal Credit Union funded $2.7 million. First Horizon funded two large loans, $2.4 million and $2.3 million, while UBank funded $2.1 million. There were 13 for amounts from $1-2 million, which seems like the most I’ve seen in that range lately. These were funded by:
The number of deeds recorded may be slightly less, but the dollar amounts speak for themselves. People are borrowing more money and buying more expensive homes since the interest rates are still low. If you have yet to re-finance, there are still good rates available.
If you would like a speaker for a meeting, I’d be happy to oblige. Give me a call at the office 865-215-2330 to schedule, even if it’s a last-minute engagement; I might be able to help.
For more details visit these pages on our website:
Recording statistics here: Recording Statistics – Register of Deeds – Knox County Tennessee Government
Top lender report: Top Lenders Lookup – Knox County Tennessee Intranet
Have a safe and happy weekend!
Nick McBride is register of deeds for Knox County.