03 Dec 09

More condo developments in trouble?

As I was trolling the internet for info on a certain condo development, I happen upon the quarterly report of a Springfield based regional bank. Since I had used keywords that had nothing to do with the bank in my google search, curiosity got the best of me and I had to figure out why it came up in the results. Google was spot on, as deep in the document it was noted that at least one condo development in the area who’s $9.2 loan is held by this specific bank is indeed in risk of being foreclosed upon. Using what I know about that bank and what condos are currently being built around the Tri Lakes area, there’s a very good chance that there could be some price-reduced inventory on Table Rock Lake condos in the near future (especially on Indian Point). Just a heads up for those of you who would like to snag a lakefront condo on the cheap. Let me know if you would like more info on this topic. 417.337.1627