Real estate market keeps on percolating

Nick McBrideOn the Grow

I hope you were able to get outside and enjoy the sunshine and fresh air this weekend. Let’s all hope for good weather for the upcoming Dogwood Arts Festival this weekend at World’s Fair Park. Don’t forget, this year you must reserve your entrance ticket online.

Last week, just as many other weeks of the year so far, we recorded over 2,000 deeds of all types. Of those, 654 were loans, and 274 were property transfers.

Nick McBride

The total value of the property transfers was $77.83 million. Six properties changed hands for more than a million dollars: four residential and two commercial. The commercial properties included two side-by-side lots located at 2325 and 2339 Old Callahan Drive in North Knoxville, which are currently occupied by Mr. Mattress and Affordable Storage Guys self-storage. The previous owner, CAS Holdings LLC, sold the property to Robert and Deirdre Grimes for $1.4 million.

Clinch Ave. property

The other commercial property transaction is on Clinch Avenue in the UT area. The property, located on the corner of Clinch Ave and 11th Street, consists of a 6-unit student apartment building and a 6,600 square foot office building. Barrett A. Leslie sold this corner of Clinch Ave for $1.1 million to Sachchidan and Hotel WFT RE LLC.

Lending is still going strong! If you’ve been considering refinancing your existing loans now is a good time to do it. Interest rates are still low. The 654 loans that were recorded last week came to a total of $180.71 million dollars. Of those loans, 13 were over a million dollars, and those were funded by the following:

  • Citizens Bank – $1.15 million
  • First Horizon Bank – $1.16 million
  • Smartbank – $1.8 million
  • Trustone Financial Credit Union – $1.41 million
  • First State Bank – $2.52 million
  • Corevest American Finance Lender LLC – $3 million
  • TNBank – $3.1 million
  • Mountain Commerce Bank – $4.31 million
  • Greystone Funding Company LLC – $28.03 million

Look for us on Facebook here. Have a great week everyone!

Nick McBride is register of deeds for Knox County.


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