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

1. Extremely low interest rates
2. High inventory
3. 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.
   
4. 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.
   
5. 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.
6. 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.
   
7. You still get to write off your interest on your second home on your taxes.
8. 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?
9. 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.
10. 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!