Lake of the Ozarks Real Estate Blog

Been setting on the fence when it comes to buying a home? By now everyone knows

about the $8,000.00 tax credit. But did you know the Missouri Housing Development

Commission is offering a loan of up to $15,000.00 to buyers. With the two combined that

could mean a savings of $23,000.00 for you. The loan is at  0% interest and is forgiven

if you live in the home for 5 years. For more information talk to your lender or

check out their website at www.mhdc.com.

This could be a great way for you to purchase the home of your dreams and afford it as well.

At John Farrell Real Estate we are always looking for ways to help our clients.

Come see us!

Scotty Henderson

John Farrell Real Estate

573-286-6517

Realtors will tell you that one of the most heard phrases in today’s market is, “I’m still trying to decide when it’s going to be “the right time to buy.”

There’s an old saying among those who collect antiques.  It goes something like this:  The right time to buy an antique is when you see it.”  In other words, if you want it and can afford it, buy it.  Don’t wait for the price to come down; negotiate the price.

Don’t take the attitude of, “I’m just not sure;” it may be gone when you finally make up your mind. 

I’m not saying that a person should not be cautious, or that a person should not do some comparative shopping.  I’m just saying that, at some point in time, it’s time to make up your mind and just do it.  Sure, interest rates may come down a little more tomorrow; but, they might go up.  Sure, the sellers might lower the price of the home in a week or two; but, they might sell it tomorrow.  Yes, a more perfect home might come on the market tomorrow; but, there will always be a more perfect home.

Here’s what I know for sure:

1. Too many people are trying to base their decisions on the opinionsof all of the “talking heads” who are dominating the news these days.
2. None of the “talking heads” have a crystal ball.  In fact, many of them don’t appear to have “much on the ball.”
3. No one knows your circumstances better than you, so who are youlistening to the most – the talking heads, or yourself?”
4. There have been ups and downs in the market before, and there will ups and downs in future.  But, the ups and downs that have appeared in the past have never been as serious at the Lake of the Ozarks as in other parts of the state or nation, and that remains a fact today!

So, that brings us back to the beginning premise.  Now is the time to buy.  You’ll find no group of Realtors more ready to meet you needs and give you the personal attention that you deserve than those of us at John Farrell Real Estate.  Stop by and see us when you’re at the Lake.  We’re in the heart of Osage Beach.  You’ll find us in the log house with the red roof.

Did you know that Missouri is one of only six states that do not require the disclosure of value when a piece of real estate sells?  This is one of the key reasons that our real estate taxes are so low when compared to the rest of the country.

As a REALTOR at the Lake of the Ozarks I often show property to potential buyers from out of state.  One of the more common questions from these potential buyers is “What are the Real Estate Taxes?”  The most common response when I disclose the value is a curious smile, laughter or the comment “Are you kidding?”  The majority of these buyers are amazed at how cheap our real estate tax prices are.  These individuals are use to paying thousands more every year.

I believe that this makes the Lake of the Ozarks a very attractive place for buyers of full time residents and part-time residents.  Individuals who are preparing to retire will give strong consideration to the Lake of the Ozarks because of the significantly lower real estate tax prices.

Today there are only four counties in the state of Missouri that have adopted the requirement to disclose value; those counties are located in St. Louis, St. Charles and Kansas City. 

The assessor for Camden County has gone on record that he would like to see a requirement for disclosure of value.  I can certainly understand his position, a requirement for a disclosure of value would save his office a lot of time and money; however that time and money saved would be lost to the real estate buyer. 

Remember this the next time you are paying your real estate taxes at the lake and feel that your bill is too high.  It could be a whole lot worse.