Typical second-week slowdown

Nick McBrideOn the Grow, West Knox

Forever etched in our memories are the tragic events that occurred during the second week of September 2001. We will never forget the heartbreaking terrorist attacks of 9/11, those who lost their lives or those who willingly gave or risked their lives to help others.


We will also never forget where we were when we heard the news. There is an annual memorial gathering at the City County building which is always somber and leaves the participants with tears in their eyes. We will always remember.

Nick McBride

The second week of the month is rarely the busiest for our office and the past week turned out to be typical with numbers of both transfers and loans being slightly lower than the first week.

We recorded 458 mortgages that came to a total of $105.9 million. That’s only 20 fewer and $4 million less than the first week of the month, so not really a bad week. I was surprised, however, that there were only nine transactions over $1 million in both categories combined, and of those, only one was a commercial property transfer.

The lenders of the largest loans of the week were:

  • People’s Bank of the South – $3.51 million
  • TN Rural Development Fund LLC – $1.25 million
  • First Citizens Bank & Trust – $1.23 million
  • First Horizon Bank – $1.16 million
  • Home Trust Bank – $1.10 million

Additionally, 241 property transfers were recorded totaling $68.57 million. Down from the previous week by 16 deeds and $6 million. The highest value commercial transfer, $1.2 million, was the office building on the corner of Shaeffer Road and Lovell Road. It changed hands from Daddy’s Girl LLC to Michael Witt.

For details on the lending side of real estate, our top lenders can be viewed at: https://knoxcounty.org/apps/top_lender/

Even with a slower second week, September is off to a good start. As we continue into fall, we are optimistic that the healthy market will remain. Regardless, we will be here to record and report all real estate activity to our Knox County citizens. Stay healthy, and until next time, wear your masks and wash those hands!

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 register of deeds for Knox County.

 

Leave a Reply

Your email address will not be published.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