Lake of the Ozarks Real Estate Blog

As part of our continuous effort to stay knowledgeable of what is for sale at the Lake of the Ozarks our sales team spent Wednesday morning touring some properties.  Amongst the units toured was the New Condominium Development called “The Hamptons.”  I must say that I was quite impressed with this new project.

The Hamptons is a medium sized condominium development located in the heart of Osage Beach at the 19 mile marker.  The Hamptons offers views of the Grand Glaize Bridge and down the lake towards Lake Ozark.  By road The Hamptons is located off of Jeffries road or right next to Dog Days Restaurant and Bar.

The Hamptons will consist of 140 total units to be built in 4 phases.  The first phase will be comprised of 35 units and will offer 4 different floor plans.  The smallest floor plan is 1,746 square feet and the largest is 1,999 square feet.  All of the units will range in price from $353,000 to $450,000.

While touring this complex I was quite impressed with the open floor plans, the tall ceilings and the large decks.  The finish work was of very nice quality and my favorite feature was the built in fridge and grill out on the deck.

If you do not like the entertainment from Dog Days in the summers then I would not recommend this complex.  Keep in mind that Dog Days is required to move all live entertainment indoors after 9pm.  This eliminates the majority of the noise that could travel across the cove from the restaurant. 

Overall I feel that The Hamptons is a Great project and provides a real nice, upscale buying option for the center of Osage Beach.

If you would like to schedule a private tour of The Hamptons, please contact us at John Farrell Real Estate Co.

We are all frequently reminded that it is still a buyer’s market, and as one REALTOR I know likes to describe the current real estate market, “It’s a beauty contest and a price war.”   

Buyers will be glad to know that interest rates have come down again too.  One of our local banks advertised today that 30 year fixed rates are at 5.00% and 15 year fixed are only 4.375%!  So, if you’re a buyer who has been sitting on the fence, you have many good reasons to get off the fence and make that purchase. 

Also, first time buyers have less than 66 days to close on a purchase in order to receive the federal tax credit of up to $8,000.00.

Take advantage of all these buyer incentives while they’re available!

Well it's that time of year again. Soon the leaves will offer us a beautiful show of fall color, then fall

down to our waiting rakes and leaf blowers. Teresa and I got to thinking about all we need to do

to get ready for the cold months. Is your biggest investment ready for the change in season?

There are so many inexpensive things you can do that will save you money; above all cover the basics.

Your Water lines for example can be protected at little cost but not protecting them can cost loads to repair.

Keeping old man winter out is another basic that is a biggie. There are several options to seal windows and doors.

Talk to your local professional about the best way to seal your home. This can save big bucks on the heating bill.

 
I am writing this blog for several reasons. Winterizing your home protects your home and the VALUE of your home.

Damage is never good especially if you are thinking of selling your home later.  Also in the economic times we are living, saving money is essential. So enjoy the fall season and get you, your house and your wallet ready for

Old Man Winter.  We would like to hear your tips on protecting your home from old man winter!

Come see us!

Scotty

Interest rates are remaining low and the activity in our office is at a high for the year.  As I am writing this we currently have 8 contracts pending and a few more contracts being negotiated.  Of the nine contracts that we currently have pending more than half of them are purchases of second homes.  In addition these contracts range in value from below $200,000 and just more than $600,000.

At this time, I would say that there are not enough first time home buyers taking advantage of the Great Buyers Market and the tax incentives provided to them to purchase a home.  Remember the $8,000 tax credit currently expires on November 30^th.  In order to qualify for that credit you must purchase your home before December 1^st.

Do not procrastinate with today’s market.  While interest rates remain low lenders are starting to predict that the rates will soon begin to rise.   

I was listening to a podcast from the National Association of REALTORS Chief Economic

advisor , Leonard Yun, and heard some very positive statements that I wanted to pass on to our internet Friends.

NARs research has shown an increase in new home sales as well as resale over the last 6 months.

Yun attributes a lot of this to the tax credit allowed for first time home buyers. This, of course, was expected

to some degree and Yun continued to say we could experience a decrease in these numbers when the tax credit

goes away later this year. We as REALTORS are taking action through NAR to have the tax break extended.

Being in the foreclosure business, I was particularly excited to hear that the days on market on foreclosure homes has

decreased. (days on Market is the number of days it takes for a house to sell.) What this means is investors are letting go of money more for investment purposes. Which is a good indicator. All of this info tells me two things. We are seeing signs of light at the end of tunnel and real estate is a big part of that up swing. It's still a long tunnel but just the same... First time buyers? Now could be a perfect time to take steps to investing in your future through real estate. Looking for good solid investments that hold their value for the long term?

Think real estate. If we can help let us know. Come see us.

Often I get the question from my friends and contacts: What is selling at the Lake?  What are the hot properties at the lake today?  Well if you are in the market for condos I would have to say that Lands End is the Hottest property at the lake today. 

I know you asking yourself how could a condo complex be the hottest property at the lake in this market.  Well, my answer would be it is all about three factors; 1. Location, 2. Quality and 3. Price.

Located at the 19 mile marker, Lands End is centrally located in Osage Beach with Great water frontage, views North towards Horseshoe Bend and South towards Linn Creek.

Lands End is a large condominium project built by Pro Build.  Pro Build is owned by Kevin Brown.  Pro Build has built several condo complexes in the Lake Area for other developers but Lands End is their own project. 

If you look beyond the superior location and quality Lands End also offers Great Amenities.  Lands End currently offers two pools, a large club house and a wonderful exercise facility.  The Lakefront pool is built as a beach entry pool with water fall in the deep end and the childrens play area includes spraying water, tumbling water and a lazy river.

Lands End offers several different units ranging in size from a reasonable 2 bedroom and 2 bathroom to various 3 bedroom units.  The three bedroom units have plans with square footages of 1,365, 1,520 and over 1,700.  With all of these different options there are units in size and price for all buyers.

If you would like to tour Lands End and discover for yourself why I think it is the Hottest condo project at the lake please give me a call or email so we can schedule an appointment.

Jonas Farrell

Home sales are picking up at the Lake of the Ozarks.  Aside from the actual numbers, I can see it in other ways through my own clients.  Two out of three couples who have been “on the fence” for nearly two years have decided that it’s time to buy.  I expect one couple to purchase a home during the month of September, and I expect the other couple to make a return trip from Iowa “after the crops come in” (are harvested).

I’ve also seen positive activity from those who have just started looking.  I just helped a young family find just the right home last month as they moved to the Lake of the Ozarks from Arkansas.  The husband is joining the work force in a managerial position.  And, I’m showing homes all day tomorrow to a young woman who is “moving up” from a manufactured home to a stick-built in an established neighborhood.

Believe it, or not, we’re even hearing some good news, be it ever so faint, on the national level – and, this time, on the commercial side of real estate.  Lawrence Yun, chief economist of the National Association of Realtors (NAR), noted, “The pace of decline has moderated” but still notes “lower business opportunities in commercial real estate activity.”  Still, he believes that we will see a more positive upturn by the second half of 2010.  I believe that the upturn will happen more quickly in areas like the Lake of the Ozarks where a great deal of the major economy (tourism) is driven by those with higher levels of income and greater amounts of discretionary spending.  To read the full NAR report on commercial real estate, click on this link:  http://go-to.realtor.org/r/WLKJPC/QNVRL/FX6ZUT/2WUZU/BYWQT/HK/t. 

How do I summarize this Blog?  I do it with two points: 

1. If you’ve been “fence sitting” on the purchase of a full-time or second home at the Lake of the Ozarks, consider jumping off of that fence and get on with

living like you want to live.

2. If you’re considering a commercial buy, be cautious, but don’t rely on the

“talking heads” on TV, most of whom make their living by taking extreme opposite points of view.  Instead, study the market in which you want to invest.  Establish a relationship with a Realtor who will give you good council.  Talk, also, with local lenders who know the trends of this market.

John Farrell Real Estate is celebrating 25 years in the business this year.  Prior to that John was Vice President of First National Bank.  John and his wife, Lynn, have put together a great team of real estate professionals – all, who take pride in developing personal relationships with their clients.  I’m proud to be counted among them.  My name is Joel Pottinger.