Wrapping up August; loan volume outpaces sales

It’s hard to believe August is over, but here we are. As of last Friday, there have been 5,109 documents recorded in the Register’s office in August. 838 pieces of property have been sold so far and 1,111 loans have been granted.

Nick McBride

Last week’s total of 1,470 recordings included 261 loans with a value of $133.87 million. Property sales accounted for 207 documents which had a value of $70.84 million.

The highest value Trust Deed (loan) of the week was a huge one, $61 million, funded by Bank of America. Seven others with values over $ 1 million dollars were recorded with Pinnacle Bank loaning three on the list.

Of the 207 Warranty Deeds, four had property values over one million dollars. Two of those properties were private and two were commercial.

The first commercial property is at 1711 Jackson Road, which is just past the Amherst and Jackson roads intersection in West Knoxville. Cleghorn Properties LLC sold the warehouse property to Production Components Inc. for $1.5 million.

The other commercial property changing hands consists of two apartment buildings. The Flats at Hutton Apartments on Hutton Road in the Inskip community were sold by 4506 Hutton Rd LLC to AVEM 4506 Hutton Rd LLC for $1.7 million.

The three-year comparison chart was updated as of 8/25.

Our new website is full of resources to benefit the citizens of Knox County. One thing I want to bring to your attention is the Weekly Real Estate Transfers page. This provides information on the property sales of the prior week. You can also sign up to have the report emailed to you every Monday by entering your email and clicking “subscribe here”: https://rod.knoxcounty.org/newsletter-signup/.

Have a great holiday weekend and please note that the Register’s office will be closed on Monday, September 4, in observance of the Labor Day holiday. We will re-open on Tuesday at 8 a.m.

Thank you              – Nick

Nick McBride is register of deeds for Knox County.