Loan refinancing keeps register’s office busy

Nick McBrideOn the Grow

Finally, it’s beginning to feel like fall! We can tell because of today’s great temperatures and because September was a bit slower in the register’s office than August. This is not unusual as sales typically decrease during the fall and winter months. In September we recorded 1,109 property transfers that equaled $341 million and 1,675 loans totaling $498.7 million. Even down a bit, sales are still going strong in Knox County!

In the first week of October, we recorded 330 property transfers totaling $86.5 million. The largest property transfer ($2.35 million) was between the city of Knoxville and C&H Knoxville Partners LLC for the former State Supreme Court site. C&H Knoxville plans to build a hotel with a minimum of 45 rooms and approximately 230 apartments with onsite parking.

The second-highest property transfer was between Tacala Tennessee Corp. and Kirkyl LP for property located in the Northshore Town Center development.  Kirkyl LP purchased the property located at 1970 Town Center Blvd. for $2 million.

Interest rates are low, so the title companies and lenders are busy with refinancing mortgage loans. As for the first week in October, we recorded 499 loans that totaled $104.2 million. This is 83 more loans than in the first week of September. Many people are taking advantage of the lower rates so if you are considering refinancing your home loan, now is a great time to do it.

Nick McBride is the register of deeds for Knox County.

Leave a Reply

Your email address will not be published. Required fields are marked *