Terre du Lac (St. Louis, Bonne Terre: cul-de-sac, vacation home, buying)

[firebll31]

I have a few questions about this development on the SE side of the state, 1 hour south of St. Louis. My folks bought into this lake development in the 70s and have been paying fees and taxes on it ever since, with the idea that they would build a 2nd home there for retirement. Then we moved to the SW corner of the state. On a road trip a couple years ago my husband and I drove there to see how the development had progressed, thinking my folks could sell it for a decent amount of money. There seems to have been very little development since the 70s, with the exception of the lakeside properties, some of which are pretty nice. Unfortunately the lot my folks own is in the 2nd or 3rd "tier" (a good 15 minute drive on winding roads to get to the lake), and they bought the worst property on the cul-de-sac. It looks like the drainage area for the other lots and would require lots of groundwork to make it ready for building. None of the other lots in this area are developed. Is there a reason no one is buying in this area? I expected to find an empty lot surrounded by vacation homes. Why has development been so slow? I am encouraging them to sell the property, just to get away from the taxes and "maintenance" fees. If it won't sell, can they give it back? What happens when they die, as none of us kids wants to mess with it. Is there any possibility for future value? I would love to hear from anyone who is familiar with this area.

[ShadowCaver]

Recall driving by there few times when lived near Bonne Terre area, but nothing else is coming to my noggin at the moment. Kinda slow-paced, relaxed, and not much pressure if I remember correctly. Guess like any/most developments, you need demand and interest, and some ways to get that is nearby jobs [for commuters] and/or enough attractions therein to make the place vibrant/desirable.

Their web site does its job for the most part of 'selling' the place,,, Terre du Lac - A Place to Call Home