Nick McBride
With the short workweek also being the end of the month, we were very busy last week! A total of 863 new documents were added to the records. For the lending side of things, 224 trust deeds (loans) came through equaling $67.99 million.
Of the new trust deeds recorded, six were valued over $1 million. Pinnacle Bank financed the largest mortgage of the week at $4.5 million. Bank of America backed the second highest value loan for $4.09 million. The others are as follows:
Warranty deeds (property sales) made up 172 of the total recordings and had a cumulative value of $71.98 million.
The building and property at 2326 Cherahala Boulevard, home to the Primrose School of Hardin Valley, was at the top of the list of the eight sales over $1 million. Hardin Valley Holdings LLC sold the property to BG Holdings LLC for $4.47 million.
Also in the Hardin Valley area, 18 additional lots have been purchased for construction in the new phase of the Haven at Hardin Valley neighborhood. SH Couch Mill LLC sold the lots to Turner Homes LLC for $1.53 million.
Rutledge Pike property
Making up the last commercial sales on the list were two purchases made by one private party for adjoining lots on Rutledge Pike. The 5-acre property at 9923 Rutledge Pike was purchased for $1.2 million, and the 3-acre property at 9929 Rutledge Pike was obtained for $1.5 million. This makes the third commercial property on Rutledge Pike purchased by this party in the last two weeks.
Our year-to-date comparison chart is updated through the end of November — 2021 keeps reigning as the best year to borrow in a long time!
To recap November, a total of 5,169 new deeds are on the record for the month. Trust deeds (loans) account for 1,184 recordings with a total value of $480.91 million. There were 37 loans over $1 million. The largest was for $57.03 million funded by Nationwide Life and Annuity Company. The second highest was $42.13 million loaned by Bank of Tennessee.
The 910 warranty deeds (sales) recorded in the month were valued at $438.05 million. Fifty-two properties were priced over $1 million with the largest at $35.5 million. Martin Marietta Materials Real Estate Investments Inc. made that purchase for 115 acres on Smith School Road at Thorn Grove Pike in East Knoxville. The second most expensive transfer of the month was the $7.4 million purchase of Gettysvue Golf and Country Club by HGC Gettysvue LLC.
Your home is your most important asset, and we have just the tool to help you keep it safe. Enrolling in the FREE Property Fraud Alert Program is easy, all you need is an email address. Go to this website: https://alertme.knoxrod.org, follow the prompts, and once enrolled you will receive an email alert if any documents are recorded in your name. Peace of mind is a great gift to give yourself this holiday season.
It was great to see so many folks at the office breakfast on Tuesday. We had a great turnout; we are so thankful for the companies and individuals we work with.
Have a great weekend! – Nick
Nick McBride is register of deeds for Knox County.
