Springfield resisting credit crunch

“I’d say there’s more hesitation in the market on the commercial side,” said Mark Patrick, agent/broker with Coldwell Banker Commercial Vanguard Realtors. “The activity’s still good, but the deals are taking longer to get done.”

Lenders are being more cautious in the post-residential-boom era and are scrutinizing their clients more carefully. “People I’ve talked to say, ‘I’ve got banks asking me for stuff on my loan renewal that I’ve never been asked for before,’” Patrick said.

Appraiser Joe Roberts of Roberts and Associates said southwest Missouri’s commercial market is “going strong” and “our commercial values are holding up real well.”

Only time will tell if southwest Missouri will feel the full brunt of the national credit crunch, but so far, it’s bucking the trend.

“When I read stuff on the national level, I still kind of get a smile because it doesn’t seem like it’s hurt us that bad,” Patrick said.

According to the November Moody’s REAL Commercial Property Price Index, commercial property prices nationwide showed a decline of 1.2 percent between August and September.

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