What a great weekend and a great win by the Volunteers – we were all holding our breath at that last second, weren’t we? That win goes down in history!
Last week, 175 Warranty Deeds with a total of $65.9 million were recorded with six transactions over a million dollars. The commercial transaction of over a million dollars was a small apartment complex in Fountain City. Rowdon Holdings Inc. sold the property, currently known as The Oaks at Watauga, to Serrano Property Investments LLC for $1,675,000.
There were six property sales over a million dollars and seven loans over a million. Those are included in the 287 loans from last week, which had a value of $90.3 million. The largest loan obtained was $5.07 million from Cumberland Valley National Bank & Trust Co.
E Mortgage Capital, Inc backed $2.62 million; Mountain Commerce bank also had a large loan, $2.25 million. Simmons Bank loaned $1.34 million, First Farmers & Commercial Bank $1.28 million, Hearthside Bank lent $1.17 million and Citizens Bank loaned $1.1 million.
Interest rates have been raised again so we shall see how this affects the real estate industry. Knox County is still growing, and our economy is good. Effects should be minimal compared to some of the smaller rural counties.
The three-year comparison chart below shows us that banks are lending less money in 2022 than in 2021 but the sales are still going strong.
Do you know about the new Property Fraud Alert System that is now in place for Knox County residents? This system will alert you via email if any transactions are recorded that include the names and addresses that you have entered. It is easy and FREE to sign up for this very helpful tool-just go to www.alertme.knoxrod.org or click on this link. Once on the website, click on Register Here and follow the prompts. We are here to serve you; if you have any questions, please give us a call at 865-215-2330.
Have a great weekend!
Nick McBride is register of deeds for Knox County.