subscribesubscriber servicescontact usabout ussite map
Wed, Feb 10 2010 

Resources

print this story   Print this story
email this story   E-mail this story
  Post to del.icio.us

Photos


Globe/T. Rob Brown Donny Allen, a broker and officer with Keller Williams Realty and president of the Ozark Gateway Association of Realtors, calls attention to aspects of a luxury home in Grand Falls Estates. Real-estate agents say 38 Joplin-area homes valued at more than $500,000 each are now on the market.

Published August 08, 2008 12:38 am - Even in a sluggish real-estate market, houses change hands, sales are made, contracts are signed and moving trucks line up for the big move. But about once a month, a local Realtor makes a one-in-a-million sale.

Luxury still sells



By Melissa Dunson

mdunson@joplinglobe.com

Even in a sluggish real-estate market, houses change hands, sales are made, contracts are signed and moving trucks line up for the big move. But about once a month, a local Realtor makes a one-in-a-million sale.

“I think if someone actually knew how many million-dollar houses there are in the Joplin area, they would be blown away,” said Donny Allen, president of the Ozark Gateway Association of Realtors.

With one of the lowest costs of living in the country, the Joplin area still has 38 homes for sale currently listed at $500,000 or more — the real-estate definition of a “luxury home” — according to the Multiple List Service. It’s a posh subclass that remains mostly unseen by the rest of Joplin’s residents, but it can mean big opportunity and big stress for the area real-estate agents and builders who operate in that niche market.

Allen is trying to sell a house in the Grand Falls subdivision near Redings Mill for just less than $1 million. That price tag is unusual, considering that Ozark Gateway reports $109,906 was the average price for the 188 houses that sold in the area in June. Even nationally, a $1 million house is the exception. The National Association of Realtors reported that the average sale price for an existing home in June was $256,600.

‘They have the cash’

Doris Carlin, a Keller Williams Realtor specializing in luxury homes, said no homes listed at $1 million or more have sold in the past 30 days, but the average rate is about one a month for the Joplin area.

The economy seems to have little to do with it, Allen said.

“These houses exist here, and there’s a market for them,” he said. “You hear the national media talking about how bad the housing market is, but it doesn’t matter to them as much because they have a motor home that costs as much as the house. They have the cash.”

Allen said most of the clients who buy million-dollar homes aren’t concerned about the mortgage scandal or interest rates, because they’re paying in cash. If a buyer decided to take out a mortgage on a $1 million house and put 20 percent down, Allen said, the payments would be about $7,500 a month, and the buyer would have to make at least $300,000 a year to qualify.

“At that point, it’s about the amenities and the quality of life,” he said. “I don’t think the sluggish economy is going to make that much of a difference to them.”

All of the million-dollar homes in the Joplin area were custom-built for particular clients in the beginning, said Charlie Kuehn, owner of Four State Homes in Joplin, the builder of three million-dollar homes in Joplin just in the past year.

“Nobody in this area is building million-dollar spec houses,” Kuehn said. “But there are some in Springfield and Kansas City.”

With clients requesting such custom amenities as exercise pools in the basement and 11 bathrooms, Kuehn said nothing surprises him anymore. He said there are homes in Joplin that cost $15 million to build, have 18,000 square feet and took five years to complete.



print this story    email this story    comment on this story   

Click to discuss this story with other readers on our forums.


Add a comment on this story







autoconx
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide

Announcements

Click here!!

: Special Offer For New Subscribers : 32 buy 1 get 1 free offers

Click Here!


Featured Jobs

MECHANIC NEEDED
MECHANIC NEEDED Southwest MO trucking company seeks mechanic. Pay based on experience. Apply in person, 921 N. High Str...>MORE

ADMINSTRATOR/OFFICE MANAGER
ADMINISTRATOR/OFFICE MANAGER
Regional Eye Center PC. Busy multi doctor optimology practice seeks office manager/adm
...>MORE

RECEPTIONIST
busy law office seeking full-time receptionist. Previous experience required, mulit-tasking, computer skills, and great ...>MORE

FRONT LOADER
driver needed, local routes, experienced driver preferred. Class B license required. Pay $10-$11 per hour. Call for inte...>MORE

TRANSPORTATION
Transportation Southwest Missouri trucking company has opening for day shift Broker/Dispatcher. Qualified person must h...>MORE

SENIOR ACCOUNTANT
Non-profit organization searching for Senior Accountant. Bachelor’s Degree in Accounting, 3 to 5 years combination of pu...>MORE

LPN FOR MDS COORDINATOR
LPN FOR MDS Coordinator, experience required. Apply at Seneca House, 914 Chickesaw, Seneca, MO or call Holly at 417-776...>MORE

See all ads

Featured Transportation

CHEVROLET, 1999 MONTE CARLO
169,000 miles, $2750. (417)540-9986...>MORE

PONTIAC, 1999 SUNFIRE
148,000 miles, $2750. (417)540-9986...>MORE

2001 GRAND PRIX
Richard Petty Special Edition Package, $4995/offer. 417-317-2000....>MORE

SATURN, 2001 SC-2
154,000 miles, $2850. (417)540-9986...>MORE

See all ads

Featured Homes

5 ACRES INCLUDES UTILITIES
5 ACRES includes utilities + creek + paved road, near Downstream, $2,950 down, $500/month. owner finance. 800-720-8503...>MORE

VALENTINES GIFT
Unique Gorgeous Valentines Gift
1112 W. 5th, Joplin. Approximaitely 2200 sq. ft, could be 4,000 sq. ft. 3 br, 2 ba
...>MORE

1 BR, BONUS ROOM
1 BR 1 ba, bonus room, 2115 S. Pennsylvania #B, Joplin. Refrigerator, stove, small storage shed, central heat/air, $385/...>MORE

See all ads

Other Cool Stuff

BLOOD PYTHONS
Blood PYTHONS Adult and juvenile Blood Pythons for sale. Adults are proven 100% het for albino. Adults are breeders and...>MORE

FOR SALE DOBERMAN PUPS

6 males and 1 female, date of birth 1-18-2010 all black and rust, mom and dad for more information please call Je
...>MORE

APR FRENCH BULLDOG

14 week old female. Brindle with white markings. $900. 417-540-7490
...>MORE

MINI SCHNAUZER
4 months, male, $75 with papers and accessories. (417)434-8830....>MORE

VALENTINE YORKIES
girls and boys, 8-weeks, smallest 1 lb. 7 oz., starting price $400. Home raised. All up to date. Comes with bed and carr...>MORE

BEAUTY SHOP EQUIPMENT
Beauty shop equipment, 4 styling chairs, $100 each; 4 floor mats, $50 each; 4 shampoo bowls with faucets, $50 each; 4 sh...>MORE

AKC ENGLISH BULLDOGS
AKC English Bulldogs, quality home raised puppies, born New Year’s eve, ready just in time for Valentines Day. $1000. (4...>MORE

GERMAN SHEPHERD PUPS
GERMAN SHEPHERD PUPS, AKC, shots, wormed, ready to go $250. (417)850-5060...>MORE

See all ads


 

Community Newspaper Holdings, Inc.CNHI Classified Advertising NetworkCNHI News Service
Associated Press content © 2009. All rights reserved. AP content may not be published, broadcast, rewritten or redistributed.
Our site is powered by Zope and our Internet Yellow Pages site is powered by PremierGuide.
Some parts of our site may require you to download the Flash Player Plugin.
View our Privacy Policy
Advertiser index

 

 

The Joplin Globe Electronic Edition