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:
- 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.
- 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.
