Lake of the Ozarks Real Estate Blog

People throughout the country are learning what we, at the Lake of the Ozarks, already knew.  The Lake of the Ozarks is a great place to “Getaway” – for a weekend, a week or a life time.

“Health magazine teamed up with a panel of travel and health experts to help find the healthiest of the nation’s most popular beach and lake towns.  They evaluated air and water quality, the abundance of parks, the cost of a hotel room, availability of activities and more to zero in on the Top Ten healthiest getaways, where rejuvenation and fun are practically guaranteed.”*

The article focused on Osage Beach and one of the public beaches at the Lake of the Ozarks State Park, but it also mentioned that the Lake of the Ozarks has 1150 miles of shoreline.  I’m not sure if anyone has ever counted the number of coves along the shoreline, but suffice it to say that you can certainly find one to call your own for an afternoon.

One of the reasons to own your own home at the Lake of the Ozarks is your ability to create your own little escape from reality.  Over the last 30+ years, my wife and I have owned homes along the shoreline.  It was always great to escape there after a hard day’s work.  To sit on the deck and look across the lake is a great way to let the cares of the day go by the wayside.  A leisure swim off of the dock could achieve the same purpose.  Of course, it was never a leisure experience when the kids and the grandkids came for the weekend with cannonballs off of the seawall and water fights – but, still a great deal of fun.

Now, we live off the water and near the 18^th fairway of a golf course.  We’re two miles from the grocery store, The Landing on Main Street and Lake Regional Hospital, four miles from the outlet mall and a variety of restaurants and only three miles from Public Beach #2.  We can be at Pirate’s Cove Miniature Golf Course or Miner Mike’s – two of our grandkids’ favorite spots in a matter of minutes.

I encourage you to experience the Lake of the Ozarks and all that it has to offer.  Try a weekend or a week, but consider it for a lifetime.  While you’re at the lake, stop by the John Farrell Real Estate office in Osage Beach, and let us show you how to find the “Getaway” of your dreams.

In my limited time in Real Estate, there are two phrases that I don’t like hearing:

1) “I’d like to make an offer on the property, but I don’t want to insult them;” and
2) “I’m looking for a STEAL.”

In the first statement, the buyer is not acknowledging “the process.”  In the simplest form, that’s a) seller lists property for sale; b) buyer makes offer; c) seller makes counter offer; d) buyer and seller agree on a price.  There’s hardly ever a firm price, and when that’s the case, the process still requires the first offer.

Over the years, I’ve made offers on properties where the counter was no counter offer.  In other words, the seller was telling me, “Until you make a serious offer, I’m not going to waste my time with a written counter.”  At that time, I had to make a choice to either look at another property, or move closer to the seller’s asking price.

No harm was done, and I had a better understanding of where the seller stood.

When I hear the second statement, my guard goes up.  My thinking is, “If this guy is looking for a STEAL, he’s probably going to try to get me to do my work for less than the normal commission.  I don’t enjoy spending time with a person with this attitude.  Life is too short, and there are plenty of “good guys” out there with whom to work.

There is no doubt that every seller wants to get as much for their property as they possibly can.  And, by the same token, the buyer doesn’t want to pay any more than is absolutely necessary.  Going through a reasonable negotiation process will achieve that end for both parties – with the emphasis being on the word, REASONABLE.   

When you choose John Farrell Real Estate Company, I can guarantee that you will be working with some of the most fair and REASONABLE agents in the profession.  Stop in, or call and we’ll help you begin the process of finding the right property for you.

Joel Pottinger, Agent

John Farrell Real Estate Co.

The dam has broken.  Not Bagnell Dam!  The dam that has kept people back from coming to the lake to vacation and to look for second homes.  At the beginning of the year, we began to see it – the small trickle – a few more phone calls, a few more e-mails and a few more walk-ins.  

In the second quarter of the year, the stream became a little steadier, and even broadened in scope.  There were offers being made and contracts being written.  Then, came the closings – a celebration here and there.  But, for the most part, the dam was holding steady.  Was this going to be what we had to look forward to in the summer of 2009?

Holding our breath and looking down the road, we all waited for the Fourth of July.  And then, the dam broke.  The cars poured in from all points of the Midwest.  We even saw license plates from Alabama, Mississippi and, yes, Alaska!  Grocers had trouble keeping their shelves stocked; parking lots in shopping malls were filling up; no vacancy signs started to light up along Hwy 54.  And, Realtors were busy showing homes throughout the Lake area.

The Fourth of July weekend was one of the best in years for the Lake of the Ozarks.  One good weekend doesn’t make a good season, but I’m taking it as a sign of good things to come.  Based on what I saw and what I’ve been told, my prediction is that we going to have a great last half of the year.  I believe that those who have been “fence sitting” are ready to make their move.  They’ve shopped enough; they’ve waited on the economy as long as they’re going to, and those capable of buying are about to buy.

Where are you in all of this?  Have you been “fence sitting” for whatever reason?  Maybe you’ve been looking for a “Steal.”  Maybe you have a home in mind and just haven’t made that commitment.  Whatever the case, I urge you to reconsider your position.  Interest rates are still low, but they appear to be moving a little higher.  Most sellers have adjusted their prices to their “Bottom Dollar,” and they’re waiting for your offer.  Don’t miss the chance to be a home owner at the Lake of the Ozarks.

The lake has always been a popular choice for second homeowners, but did you know that 69% of Missourians who own second homes, own them at the Lake of the Ozarks?   Where do these lovers of our beautiful Lake of the Ozarks come from?  Of the non-resident property owners, it breaks down like this:

                        28% are from the St. Louis area

                        26% are from the Kansas City area

                        15% are from other in-State areas

                        31% are from out of the State of Missouri

                                                                       (source:  Missouri Career Center)

Give us a call when you’re ready to find your second home here at the Lake, or like we did five years ago, make this your full-time home so you never have to go home at the end of the weekend.

 

 

Ruth and Randy Anderson

Agents, John Farrell Real Estate

After looking at the sales data on the local Multiple Listing Service for the lake in June there are some interesting numbers to ponder.  In May this year there were 62 lake front homes sold and in June of this year there were 51 units sold; there were 43 Offshore homes sold in May and 52 sold in June.  The average sale price of a lake front home in May was $345,672 and in June it dropped to $288,437.  The average sale price of a house off the water was $145,104 in May and in June it dropped to $119,551.

Regarding the sale of Brand New Condos there were 10 units sold in June, down from 12 units in May.  The average sale price of a Brand new condo in June was $234,544 up from $218,755 in May.  In May there were 31 Resale Condos sold at an average sale price of $134,618, those numbers increased to 38 units sold and an average sale price of $155,212 in June.

What does all of this mean?  I believe it is an indication of the Real Estate Market fluctuating just like the Stock Market.  It is my belief that we are in a period of market correction and stabilization.  While I look into my crystal ball to predict the future I believe the number of units selling is going to increase steadily while the average price is going to drop.  As I write this I am staring out my window at the highway on Friday July 3^rd and have been incredibly pleased with the number of cars passing by.  It feels like a long time since I have seen this kind of activity at the lake and it feels Great!

At the Lake of the Ozarks there are some real good deals to be had if you are a buyer.  As a buyer this is a very exciting time; do not be scared to purchase a home or condo at the lake.  Remember Real Estate can fluctuate in price but traditionally it has always rebounded and usually when the market improves it proves to be stronger then it was before.