Taneycomo Condos At Great Prices

At the end of December 2009, a condo project on Lake Taneycomo was foreclosed on. It is a beautiful development and the prices are VERY attractive, well under $200,000 for brand new condos. Don’t want to say a whole lot about them right this instant, other than that if you are interested in purchasing a condo or second home on Taneycomo these condos should be on the top of your list. Give me a call at (417) 337 – 1627 for more details.

Two Branson Landing Condos Sell

Promenade View at the Branson LandingI was just talking with a friend of mine who keeps a pretty close eye on sales at the Branson Landing, and apparently a side-by-side pair of condos sold recently. Though I still need to find out the exact price, it was over $500,000 as reported by my source. This bodes well for condos in the area and may spark more sales. At this point with banks being so reluctant to lend, the buyers likely paid cash — as buyers are currently being asked to come to closing with 20% – 30% down. I’ll repost again when I have more details to share.

Know the Association Before Purchasing a Condo in Branson, Missouri

Though this post is applicable to condos in Branson, it is really applicable to purchasing in any market with a strong presence of condos. Since buying a condo amounts to actually buying a pro rata interest in the maintenance of the entire property association, buyers need to be acutely aware of the health of the aforementioned association. Look over the condo docs and current bank balances to get a good idea, then ask some of the neighbors (or your Realtor!) to get an even better idea of how the property is run. Also, how do the dues compare to other similar properties around the area? — this will affect the marketability of the property in the future. In short, do your homework before encumbering yourself with a share of maintenance of the buildings and common elements.

What to Know Before Buying a Condo

Before you pull the trigger on a condo you think is a great buy, there are a few things you need to consider. Among these is a condo resale certificate. This document is issued by the homeowners association which states their current financial condition, bank balance, planned projects (if applicable), and other information you need to be aware of before you obligate yourself to paying a pro rata share of these costs.

If the condo is in a newer development still controlled by the developer, you need to make sure the condo development is “warrantable”, which means that the development meets certain criteria as deemed by most banks that would make loans or refinance loans in the development. These criteria include what percentage of planned units are completed, if planned amenities are completed, what percentage of completed units are sold, whether or not there is a nightly rental program run by the developer, and other information the banks and their risk managers deem pertinent to making loans that will have sufficient collateral in the event of default.

In conclusion, make sure of what you are buying before pulling the trigger on your dream condo. Give me a call at 417.337.1627 with any questions!