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Putnam Commissioner Expects High Interest In Old Fairgrounds

/ The Upper Cumberland's News Leader
Putnam Commissioner Expects High Interest In Old Fairgrounds

Local Realtor and Putnam County Commissioner Kathy Dunn said she thinks it is the right time to start preparing to sale the old fairgrounds next spring.

Dunn said she expects the land to bring in a fair price and developments to come easily based on its location and the current market.

“I think the land will sale well,” Dunn said. “Right now with rising real estate cost and low interest rates, I think it is a good time to start thinking about that and maybe be ready by the spring.”

Dunn said right now, commercial land is selling quicker than usual, and price for square foot is staying steady. Dunn said the federal government not increasing the currently low interest rate until 2023 makes for a good selling environment for the land.

“Under my firm, we have several commercial properties under contract right now,” Dunn said. “They seem to be moving a little quicker, and the price per square foot seems to be holing steady and increasing somewhat.”

Dunn said as a realtor, selling the land in a traditional way would bring a transaction closer to market value. But when the county does sell property, it must be done by sealed bid, internet auction or public auction.

“Me being a traditional realtor, I feel like that you have a better opportunity if you are able to put it out to everybody through a traditional sale since,” Dunn said. “I am sure auctioneers would argue with me and say that their way of selling property by public auction or seal bid that that is a true and accurate value.”

Putnam County Mayor Randy Porter said in September’s Commission meeting that he believed waiting until spring to put the current Putnam County Fairgrounds on the market makes the most sense.


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