Where Is the Lake of the Ozarks Real Estate Market Heading?

05/02/16 • -1 min

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Right now is a pretty unprecedented time in Lake Ozark real estate. We have nearly the same number of agents as we do properties to sell!

Right now, we have 629 active agents in the board, and only 692 condos in the Lake of the Ozarks -- 87 of which are under contract. There are 789 active listings for waterfront homes, with a total of 97 of them under contract. As you can see, inventory is quite low right now!

What does all of this mean for you? Well, lo...

Looking to buy in Lake Ozark? Get a full Home Search
Looking to sell in Lake Ozark? Get a free Home Price Evaluation

Right now is a pretty unprecedented time in Lake Ozark real estate. We have nearly the same number of agents as we do properties to sell!

What does all of this mean for you? Well, lo...

Previous Episode

Why Should You Hire a Local Lender in Lake Ozark?

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Looking to sell in Lake Ozark? Get a free Home Price Evaluation

Today, our guest Michael Lasson from First State Bank Mortgage will tell you about the advantages of having a local lender. He will also go over common challenges you may face today when getting a loan.

First of all, the Lake Ozark area has a particularly unique market right now. Local lenders understand the market. They have contacts in place to help make your transaction smooth.

Another reason a local lender is important is an out-of-town lender will not have a full understanding of condominium financing. Michael handles this every day. The condo market is different from condos in bigger cities because this is a resort area. There aren’t many full-time condominium owners here; they’re mostly part-time, so the rules are a little different.

Not only that, local lenders like Michael have experience working with local businesses to expedite the process. They know insurance people who can make your transaction go smoothly, as well as appraisers who make sure we’re following the regulations set by Fannie Mae or Freddie Mac.

Boat docks also come into play during the transaction, and these can be tricky. In a standard home loan transaction, Michael is able to include the boat dock into the transaction so a value doesn’t have to be assigned to the boat dock. If you’re getting a condo, lenders are not allowed to give value to the boat slip because it’s usually owned by the association. There is a value with the boat slip as you make the purchase. An out-of-town lender won’t know how to navigate this kind of transaction.

Next Episode

Join Us for a Luxury Open House Tour May 27th

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Looking to sell in Lake Ozark? Get a free Home Price Evaluation

I’m sure most of you will be down here for Memorial Day weekend - that’s the official kickoff here at Lake of the Ozarks for all the fun and festivities - so we decided to add an event to that weekend.

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See some of the finest homes for sale at Lake of the Ozarks

”

On Friday, May 27th we’re going to have a luxury open house tour where we’ll tour between six and 12 luxury homes that we currently have listed.