As we crossed through the midpoint of summer last week, real estate markets continued reporting healthy numbers. We recorded a total of 541 trust deeds valued at $155.1 million. These numbers in the lending market outperformed the previous week by $30.1 million while only six additional documents were recorded. On the transfer side of real estate, we recorded 26 fewer warranty deeds than the week prior, yet a greater aggregate value of the property transferred. Last week’s 299 transfers valued $85.8 million which is $7.8 million more in value than the 325 recorded the week befotr.
The largest transfer of the week was in the Hardin Valley area. Hardin Valley Medical Investors LLC bought 4.39 acres on Reagan Road from Hardin Valley Development Partners LLC for $1.75 million on July 22. Thus far, it appears that the plans for the property are to become Morning Pointe of Hardin Valley Assisted Living.
To find the next largest conveyance of the week we must cross the Tennessee River and go back to South Knoxville as we did last week. In the South-Doyle school zone, off Goff Road, 32 lots of the Sevier Meadows subdivision changed hands. If we remember from the week of July 13, we will recognize the parties involved in the sale. D.R. Horton bought this subdivided land from Mesana Investments LLC, as they did the property off Gray Road in Halls. The 32 lots off Goff Road sold for $1.499 million on July 24.
The largest loans backing the $155.1 million in value recorded on trust deeds last week are as follows:
- Central Bank & Trust Co. $28.17 million
- First Bank $5.98 million
- Citizens Bank $5.5 million
- First Horizon Bank $4.84 million
- Eastman Credit Union $2.9 million
- Pinnacle Bank $1.37 million
Check out our top lender page at https://knoxcounty.org/apps/top_lender/
During this time of uncertainty, the real estate market continues to be active. That is a good sign for the economy and the people of Knox County. The Register’s office will remain open to continue serving our citizens.
Don’t forget, we’re on Facebook! Just search Facebook for @KnoxRegister to find us, and while there, please give us a ‘like’ and share the page.
Nick McBride is the register of deeds for Knox County.