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Price Ranges
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# of Sales in 2007
|
# of Homes Listed
|
No. Months of Inventory
|
Absorption Rate Per Month
|
Market Condition
|
|
$0 - $149,999
|
46
|
17
|
4.43
|
3.83
|
Sellers
|
|
$150,000 - $199,999
|
93
|
50
|
6.45
|
7.75
|
Neutral
|
|
$200,000 - $249,999
|
102
|
83
|
9.76
|
8.50
|
Buyers
|
|
$250,000 - $299,999
|
97
|
95
|
11.75
|
8.08
|
Buyers
|
|
$300,000 - $349,999
|
73
|
70
|
11.51
|
6.08
|
Buyers
|
|
$350,000 - $399,999
|
53
|
93
|
21.06
|
4.42
|
Buyers
|
|
$400,000 - $449,999
|
40
|
32
|
9.60
|
3.33
|
Buyers
|
|
$450,000 - $499,999
|
27
|
37
|
16.44
|
2.25
|
Buyers
|
|
$500,000 - $549,999
|
10
|
23
|
27.60
|
0.83
|
Buyers
|
|
$550,000 - $599,999
|
15
|
29
|
23.20
|
1.25
|
Buyers
|
|
$600,000 - $649,999
|
13
|
19
|
17.54
|
1.08
|
Buyers
|
|
$650,000 - $699,999
|
9
|
17
|
22.67
|
0.75
|
Buyers
|
|
$700,000 - $749,999
|
9
|
10
|
13.33
|
0.75
|
Buyers
|
|
$750,000 - $799,999
|
6
|
19
|
38.00
|
0.50
|
Buyers
|
|
$800,000 - $849,999
|
4
|
9
|
27.00
|
0.33
|
Buyers
|
|
$850,000 - $899,999
|
10
|
8
|
9.60
|
0.83
|
Buyers
|
|
$900,000 - $949,000
|
1
|
3
|
36.00
|
0.08
|
Buyers
|
|
$950,000 - $999,999
|
3
|
15
|
60.00
|
0.25
|
Buyers
|
|
$1,000,000 - $1,249,999
|
12
|
14
|
14.00
|
1.00
|
Buyers
|
|
$1,250,000 - $1,499,999
|
5
|
17
|
40.80
|
0.42
|
Buyers
|
|
$1,500,000 - $1,749,999
|
1
|
13
|
156.00
|
0.08
|
Buyers
|
|
$1,750,000 - $1.999,999
|
0
|
9
|
-
|
0.00
|
Buyers
|
|
$2,000,000 - $2,499,999
|
1
|
8
|
96.00
|
0.08
|
Buyers
|
|
$2,500,000 - $2,999,999
|
2
|
10
|
60.00
|
0.17
|
Buyers
|
|
$3,000,000 - $3,999,999
|
5
|
8
|
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Jan. 19, 2008 - Interest Rates |
Interest rates have been steadily dropping. I have seen several lenders at the lake offering 30 year, No Points 5.625% and a 15 year at 5.125%!!! That is the lowest in over 2 years and near a 30 year low again!
Now is a great time to get back in the market for a Lake home or condo. With just moderate appreciation plus your write off for the interest on your taxes, the loan is basically free money. Then factor in the high inventory numbers, so you have many choices.(Not always the case for the Lake of the Ozarks real estate market.) I firmly believe this is the Best Buyers Market I have seen in my 25 years of real estate at the Lake of the Ozarks!
Reasons To Buy Now
- Extremely low interest rates
- High inventory
- Sellers are willing to look at your offer. In the past, it was often full price or they would go on the the next contract. Today, we are seeing our skills of negotiating being more important than ever.
- Less competition from other Buyers. You don't have to buy the very first property you see, just to make sure you don't miss out. Properties are selling, but not at the frenzied pace of a couple of years ago.
- Get the inspection and ask for repairs. It used to be you bought "As Is" or the Seller had another Buyer in line. Now, Sellers are more willing to make necessary repairs.
- The Lake of the Ozarks area is growing and expanding, both commercially and in the residential market. Waterfront homes are still appreciating in value. We all say, "If I had only bought 10 years ago." Don't be saying "If only" in 10 more years.
- You still get to write off your interest on your second home on your taxes.
- Where else can you buy an investment and still get to enjoy it as much as YOUR get-away at the Lake of the Ozarks?
- Due to advances in technology, you can view Lake real estate from the comfort and privacy of your own home or office. Sites like www.DemandDonna.com allow you to search the entire Lake of the Ozarks inventory, see virtual tours, and even set showings with the click of your mouse.
- The Lake of the Ozarks is getting better every year. We have and are getting more shopping and dinning, better roads, improved boating enforcement, a cleaner lake, and of course as always, THE FRIENDLY, LAID BACK Lake Atmosphere!
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Jan. 18, 2008 - 2007 Commercial Growth at Lake of the Ozarks |
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2007 Growth at Lake of the Ozarks
Development… Development…Development… Development…
Every where you look commercial development is going on. From World Class multi-million dollar resort/hotels to major retail shopping destinations to luxury condominiums.
Osage Beach had $50 Million plus in permits. Lake Ozark reports more than $1 Billion, with a B, in new projects. The largest are The Shoppes at Horseshoe Bend, where HorseShoe Bend Parkway will be extended out to Hwy 54, and a Revitalization plan for the “Strip”.
John Q. Hammons has the GO to build a world class hotel/resort in Osage Beach and across the lake on Shawnee Bend, Riva D’Lago has the approval from the Camden County P & Z.
Assessed Valuation is going through the roof. Camden County is over $1.4 Billion, Miller is up to nearly $380 Million and Morgan is up 16% to $366 Million
It used to be that we had to travel to Jefferson City, Columbia, Springfield, KC or St. Louis if we wanted to shop. Now they are all coming to the lake to shop! My how times have changed and from all I see going on around the lake, “You ain’t seen nothin’ yet!”
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Oct. 28, 2007 - Hwy 54 Expressway |
This week in the Lake Focus, the front page article showed a ceremony kicking off the construction of a $30 Million dollar phase of the new 54 Expressway through Osage Beach. This part, from the Grand Glaize Bridge to Hwy 42 is just part of the over all $158 Million dollar project which is due for completion in late 2010.
With interchanges at KK, Broadwater, Jefferies Rd., Passover Rd, Rt. 42, and the new Horseshoe Bend Parkway, this will make travel through Osage Beach a quick and painless trip. Even holiday weekends won't pose the problems they do today. Traveling at 65 miles an hour the 8.7 miles will even change the real estate market. Currently, many people do not want to go to KK or Linn Creek due to the added travel times on weekends.
We are all excited to see this finally come to fruition. |
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A Blog to discuss Lake of the Ozarks specifically and Resort Real Estate and Investing in general.
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