Values are holding strong in real estate market

Nick McBrideOn the Grow

The week of August 15-19 ended with a total of 1538 documents recorded, with 252 warranty deeds and 367 loans. These property transfer deeds had a combined value of $135,071,351 with 13 transactions coming in over $1 million. The highest value property, commercial or residential, to change hands last week was an office/bank building in Parkside Plaza I. Viking Partners Parkside LLC sold the property located at 11400 Parkside Drive to O&M Holdings LLC for $24.5 million dollars.

In the Lovell Road vicinity, the Caliber Collision property has changed hands. The building at 10606 Kingston Pike, along with a parking lot behind the building on Flickenger Lane, was purchased by 212 Rodeo Drive LLC, a Texas company, for $7.3 million dollars.

Nick McBride

In the Hardin Valley community, more farmland is changing hands. I’d say there’s a great possibility of development to come. SH Couch Mill LLC has purchased property on Couch Mill Road from Hardin Valley Farm LLC for $6.29 million.

The current owners in the Tippit Village neighborhood will soon have new neighbors as the second phase of development is in the works. Sites to See Inc. sold 27 lots in the subdivision, which is on Andes Road, to B & B Builders Inc. for $1.62 million.

And, on Baum Drive, BC Terminals LLC sold the building located at 6420 Baum Drive to R.J. Louis & Company LLC for $1.9 million.

Lenders were busy with the 367 loans that were recorded, which when tallied up, came to a total of $154,400,870. Of those, 18 loans exceeding $1 million were recorded last week with Y-12 Federal Credit Union funding the largest at $19.6 million. There were two others that topped the $10-million mark — Commercial Bank funded a $12.2 million dollar loan, and Dwight Mortgage Trust LLC funded a loan of $11.9 million. Broadway National Bank lent $5.84 million, and Wilson Bank and Trust had two on the list: one for $5 million and the other for $1.55 million. The other loans were:

The three-year comparison chart has been updated:

The document numbers are down but the amounts are much greater than the previous years.

If you haven’t yet signed up for our FREE Property Fraud Alert program, it’s easy to do and can keep your mind at ease regarding you biggest investment, your property. You can find out more by going here, then clicking on “Register Here” and following the prompts. Or feel free to call our office if you have other questions at 865-215-2330.

Have a great weekend!

Nick McBride is register of deeds for Knox County.

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