Springfield area Dirt Cheap Homes (Ozark, Fordland: for sale, real estate, renting)

[redneck central]

Hey Ya'all,
I just moved down into the area 2 months ago, I've been getting a feel for the real estate prices. Currently renting, looking to buy next year.
Looking at the inventory of places in the country, In the area I am watching, the same houses have been on the market for the last 6 months.
Very few homes appear to be selling. Yet, they have not been marking the prices down much.
I went to an auction in Ozark on Sat, 4 new homes on the block.
4100-4200 sq ft. Granite counter tops, 4 bedroom, 3 car garages, etc, very nice. These were in a subdivision. The lots were on the smaller side, but it had a community pool and park.
These houses drew a bid of between $41 -$56 a square foot. Ouch said the seller! OOOH said the buyers! 5 people were bidding, 25 watching.
Moral to the story...if you are comming in out of state, when you make an offer on a house, under bid by alot, you just might get it!
There are houses for sale everywhere. The supply is large, the demand is weak.
A few weeks ago, a 16 acre buildable woods near Fordland sold for $3900 an acre. Upcomming auctions are usually listed in the weekend News -leader.

[Lake Junkie]

Just curious...did the houses actually sell for that? Many times people try an auction but have a reserve that has to be met, and after the auction the house has not sold because the reserve was not met.

[redneck central]

Those were the prices that were bid. The auctioneer then went behind closed doors to talk it over . The auctoneer then came out to try to get the prices higher.
I did leave when they went behind closed doors. What this showed me is that the buying demand is very weak. The prices will be comming down.
Rumor at the auction was that this was a speculator that bought these from a builder, and tried to flip them, but got stuck, and had to cut his losses.
There has been so much building in Christian county the last decade, that now the supply exceeds demand big time. By shopping around and looking for distressed sellers, you will be able to get a bargain house.
Have fun.

[Lake Junkie]

Originally Posted by redneck central

Those were the prices that were bid. The auctioneer then went behind closed doors to talk it over . The auctoneer then came out to try to get the prices higher.
I did leave when they went behind closed doors. What this showed me is that the buying demand is very weak. The prices will be comming down.
Rumor at the auction was that this was a speculator that bought these from a builder, and tried to flip them, but got stuck, and had to cut his losses.
There has been so much building in Christian county the last decade, that now the supply exceeds demand big time. By shopping around and looking for distressed sellers, you will be able to get a bargain house.
Have fun.

My parents had a "difficult" house to sell in Webster Co (overbuilt for the neighborhood) so they hired an auctioneer they met at a home show.
I was there for the auction, it was just nosy neighbors looking for a "bargain".
My thoughts were that the folks attracted to an auction were just bargain hunters, not real buyers.
You just confirmed that.
After finally putting the house on the market with a realtor, my folks got 97% of asking.
And it appraised for more.
That's why I wondered if those houses actually sold for what you said, or if that's all people would offer at an auction.
Just curious.

[coldinsheboygan]

Hi redneck central - I believe we know each other - cold in Sheboygan. I just posted a question about the superhighway. We will see what type of responses we get.

[sunshine girl]

There is an ethanol plant in the future for the Fordland area. Some folks might want out of that area, therefore the "good" price. I attend many, many area auctions. You are correct that most do sell for way less than you might imagine. But also sometimes they are VERY distressed properties. A few weeks ago, I could not even stand to look at the interior furniture up for bidding because the house smelled so strongly of urine.Didn't stay for that one, but I suspect it went very "cheap". Most are not this extreme and can be good finds, but buyer beware. Have it inspected, know the immediate area, and make sure you will have a clear title. Sometimes they are excellent buys. Pays to do your homework on these. Happy hunting

[coldinsheboygan]

How definitive is this ethenol plant? and have they decided on the exact location yet? What if any would be the adverse impact? would it create more jobs?

[8 SNAKE]

Originally Posted by Lake Junkie

My thoughts were that the folks attracted to an auction were just bargain hunters, not real buyers.
You just confirmed that.

I believe you hit the nail on the head. I mean no offense to the OP, but this thread title and original post are VERY misleading. Both seem to indicate that there's a "fire sale" going on in Christian County when that's not the case in most circumstances. There may be a time or two when someone gets an absolute steal of a deal, but implying that new homes are going for $41-$56 per square foot is a fairy tale. Christian County is the fastest growing county in the state and one of the top 50 in the country. The cost of living here is very appealing, but don't be led to believe that people are giving their homes away.

[sunshine girl]

Don't pretend to know all the details about the ethanol plant, just that a judge ruled in the favor of the company and not the citizens protesting it's development. The problem is not with bringing jobs, which it will of course, but in that it requires a good deal of fresh water to produce the ethanol and the waste product goes.....where? This area is a karst (sp?) type of area, and the fear is that they will suck out enough water to cause ground problems, like sinkholes and lowered water tables, and that the waste water will then be expected to percolate into the ground and finally into the ground water of the surrounding area wells and drinking water. Springfield has a good supply of water for it's citizens, but there is much debate on both sides whether or not to share it's bounty with surrounding areas. That may come into play if the neighbors groundwater is contaminated. Anyway, that's why maybe it's possible to see lower prices out thata way. Hasn't happened yet, but the courts are with the big company. There was no zoning in place prior to this in that county, so they won the right to place it wherever they wanted to. Kind of goes back to know what you're getting into with auctioned property sometimes. Sometimes good deal, sometimes not. Again, it's up to the buyer to be diligent in the sale, not the seller. And once again, happy hunting The chase for the right place can be exciting.