August brings the heat of summer and the beginning of the school year. July 2024 seemed to pass quickly; even so, 6,447 documents were added to the county records. This included 1,146 Warranty Deeds (property sales) and 1,530 Trust Deeds (loans).
The aggregate value of property transfers recorded in July was $490.32 million. I recently mentioned the increase in the number of million-dollar properties selling in Knox County. Well, in July we recorded 62, both commercial and residential. Ball Homes LLC made the largest purchase of the month, spending $8.63 million for land in the Meadows at Hickory Creek subdivision. That neighborhood is located off Buttermilk Road in the western part of the county. The second highest was the acreage on Strawberry Plains Pike mentioned in last week’s article. First Covenant Trust and Advisors LLC and a private trust combined to pay $3.24 million for the land near Aubrey’s Restaurant.
July’s loans had a total value of $597.97 million. Guardian Life Insurance Company funded the largest loan of the month for $63.37 million. The second highest came in at $40 million and was backed by Western Alliance Bank.
The workweek ended on August 2 with 1,374 new documents on the books. Three hundred forty-one were loans with a combined value of $119.91 million. The loans were topped by 11 with values over one million dollars. The largest of the week was $14.53 million funded by Walker & Dunlop LLC. The second highest, backed by Sixth Street Lending Partners, came in at $13.2 million. The others are as follow
Two hundred seventy-eight of the documents processed last week were property sales with a cumulative value of $112.6 million. Thirteen were valued at over one million dollars, and two were commercial properties. The most valuable to change hands at $1.53 million, was for 18 lots in the Haven at Hardin Valley subdivision. Turner Homes LLC purchased those lots from SH Couch Mill.
The other commercial transfer was the professional building at 305 Westfield Rd (behind Calhoun’s on Bearden Hill). Westfield Healthcare Properties LLC sold the property to a private owner for $1.2 million.
The year-to-date comparison chart has been updated:
We hope to see you at this weekend’s Neighborhood Resource Fair in the Jacob Building at Chilhowee Park. We will be there with information regarding the FREE Property Fraud Alert Program that is in place for Knox County homeowners. If you haven’t already signed up, take a moment to visit here and sign up for FREE. You’ll receive an email if anything is recorded in your name or the names you have added to the system. The peace of mind it offers is worth it!
Don’t forget to stop for the school buses and use care in the crosswalks as the school year starts back up. Keep those kids safe!
Have a great weekend!
Nick
