Local real estate agent discusses impact of city's fallout with - KOAM TV 7

Local real estate agent discusses impact of city's fallout with Wallace Bajjali on developers and property owners in redevelopment zone

A local real estate agent discusses the impact of the city's recent fallout with Wallace Bajjali on developers and property owners in Joplin's redevelopment zone.

David Inman is currently renting a home close to one of Wallace Bajjali's former properties near 26th and Main Street.

He plans to purchase the home in a couple months, and believes with Wallace Bajjali out of the picture, things are looking up.

"With a new developer, I hope that it brings up my house value," Inman said.

And many of his neighbors feel the same.

"A lot of these lots next to me, they are not for sale because they're holding on to it," Inman said. "They want to see what's going on."

Commercial real estate broker David Glenn, with Keller Williams Realty in Joplin, previously had a buyer agency contract with Wallace Bajjali.

He doesn't consider their leaving a loss.

"I don't think it's any bad news that Wallace Bajjali is gone," Glenn said. "I think it's good news."

Good news, for the developers at 20th and Connecticut Avenue and 26th and Maiden Lane, who no longer have to co-develop with Wallace Bajjali.

"They can just develop it themselves, which I think they both will think that's an advantage," Glenn said.

Glenn says Wallace Bajjali's leaving could lead to bigger and better developers coming into areas such as 26th and Main Street and 26th and Jackson Avenue.

"Joplin has some interest with a lot of developers around the country right now," he said.

Residents are hopeful new developers will result in many long-awaited improvements to the redevelopment zone, while increasing home values in the process.

"We're just waiting to see what happens," Inman said.

"Good commercial real estate and a good location, that is always going to maintain its value, if not improve its value," Glenn said. "Depending on their financial situation, I would certainly advise owners to hold onto their property and see what develops around them."

Glenn's buyer agency contract with Wallace Bajjali had been renewed on an annual basis since 2013.

The agreement expired Dec. 31 and staff members with the real estate agency have been unable to make any contact with Wallace Bajjali officials.
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