Have you ever wondered how healthy your bank is? Here in Springfield, MO, we have not yet experienced the massive bank failures that other parts of the country have experienced, but that does not mean we are immune. Having specialized in new construction homes and land development, many of my clients have been victims of the banks frantically attempting to increase their capital, while decreasing their troubled assets, with the results usually being the builder/developer has his loan called, and the bank ends up with troubled assets anyway.
As of the end of October, there have been 123 bank failures in 2009. The number is rapidly increasing. Here is a link to view the banks which have failed this year: FDIC failed bank list.
Many of the troubled banks in the Springfield, MO, area were banks with a substantial amount of construction and/or development loans. With the new construction industry basically at a standstill, it is no surprise the banks are proportionately troubled as evidenced by the chart below I found on Calculated Risk Blog (the author, Bill, was very kind to let me use his charts). To reach his full article, click here.
To put this in perspective, Bill at the Calculated Risk Blog compared the history of the number of bank failures through 2009 since the inception of the FDIC in 1934.
So now, are you wondering how healthy your bank is? I have found a wonderful website to look up your bank based on its quarterly reportings to the FDIC. The Investigative Reporting Workshop has created a website that you can search for your own bank based on the location of its headquarters. It will tell you how healthy your bank is, and what banks received TARP monies. It may surprise you to know, that Great Southern Bank is actually headquartered out of Reeds Spring, MO.
Here are links to some of the banks around Springfield, MO:
How does your bank fare?
Homes for Sale in Greene County, MO: Greene County MO Sales Price Information Days on Market (for Sold homes) Average Days on Market: 64 days Three Month Comparison of Home Sales
Inventory Report of Homes
Homes for Sale in Nixa, MO: Nixa MO Sales Price Information Days on Market (for Sold homes) Average Days on Market: 76 days Nixa MO Real Estate Market Report for September 2009Three Month Comparison of Home Sales
Inventory Report of Homes
Looking for information regarding Springfield Public Schools? I often have clients who are searching Springfield MO homes for sale, ask, "What is the best school district?" Unfortunately, I can't answer that question. The answer is very subjective. What may be important to one client is not necessarily important to another client.
When relocating, it's wise to research the area schools yourself and make your decisions based on what criteria in a school is MOST important to YOU. I have provided some helpful links to help you in your analysis of the high schools in the Springfield Public School District.
Springfield Public Schools, consists of five high schools:
Central High School - Home of the Bulldogs!
For information regarding safety, the Springfield Newsleader has a database you can search for Springfield Public Schools Safety Incident Reports.
This chart from Credit Suisse was forwarded to me by Mark Trigg, with North American Savings Bank in Springfield, Missouri, this morning. You can see the lull in 2009 between the resets for subprime and the beginning of the resets for Option ARM's, Alt-A, and Prime loans, etc., that are just beginning to hit our market at such a critical time in our economy.
I suspect we will see an increase in motivation to sell by those homeowners that bought more home than they could afford as their payments begin to reset. This will, of course, be much more pronounced on the east and west coasts, but will be felt in the Springfield MO Real Estate market as well.
The media is reporting that the biggest part of the subprime wave is passing, but the good "prime" loans are an area to watch closely in the next couple of years. This graph helps put that in perspective.
Personally, I was shocked to see how dramatic the drop off was midway through 2012.
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Full-time realtor with 10 years experience specializing in residential and commercial real estate in Springfield, Ozark, Nixa, Republic and Willard.
Lina Robertson is a full-time realtor and Certified Finance Specialist with 10 years of experience in the Ozark, Nixa, and Springfield real estate markets. As an owner/agent in RE/MAX Solutions, she is actively involved in her community, including the Ozark Economic Development Committee, Ozark Chamber of Commerce, PTA, and a portion of all of her commission goes to Children's Miracle Network. She has been a multi-million dollar producer each year in the business and has helped hundreds of families with their individual needs in buying or selling.
Looking for a local realtor? Learn more about me and my background, and how my innovative techniques and experience will provide you with the reassurance of knowing that you are protected by a true professional.
Welcome to Springfield Missouri's Real Estate Resource Center
Considering buying a home in Springfield Missouri? My website is a comprehensive resource for all of your real estate needs. Start your search here for Springfield MO homes for sale for access to all listings in the Greater Springfield MLS, including the outlying communites such as Ozark, Nixa, Republic, Willard and Rogersville. You can also search for upcoming Open Houses in Springfiield MO.
Register with My Home Finder and enter your search criteria. You may rerun a saved search anytime without reentering your personal criteria. You may save as many searches as you like. Would you like to be notified via email about new listings matching your personal critera? Simply select the email notification option in any of your personal saved searches. You will receive links to newly listed properties!
Considering selling a home in Springfield Missouri? You will find tips on how to prepare your home here. Ask me about my marketing plan and how it can help your home gain the exposure it needs to sell as quickly as possible, for the best price.
Looking for a pre-foreclosure or foreclosed home? You can search for Springfield MO foreclosure homes here. Find a foreclosure home you'd like more information on? Contact me and I will conduct a search for the history of the home, including prior listings, prior sales, and the market value of the homes in the surrounding area.
"We loved working with Lina and have recommended her to many friends thinking about selling their homes." - Joe & Gina Beamish
Lina Robertson was great! We purchased a house from 4,000+ miles away. We were well informed and were educated to our new home. She knew schools, different residential areas and listened to our preferences and requirements. She did tons of legwork and picture taking. She helped us with financial options. She was definately an advocate for us as the Buyer and a great representative for us with the Sellers and the bank. I can't say enough! Our closing was in Alaska and was flawless and easy. She thought of everything. We consider her a great new friend. - Clay & Angela Owens
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