2008 In Review

2008 brought many changes to the real estate market and to the lake in general. For the first time in my 20 years of real estate around the lake area, I saw home values start to drop and total residential sales drop by about 28% from 2007 and about 38% from 2006. There is hope just around the corner. It looks like we might have seen the bottom and now moving in a positive direction. Interest rates are dropping to record lows and home prices will never be lower making this a great time to invest in real estate. With low gas prices and the stock market becoming a little more stable, confidence in our economy is growing again. We are still a long ways from back to normal but I think we are starting to move in the right direction.

The lake area continues to grow and with the help of everyone we will continue to make this great place to live, work, and play.

Have a safe and happy 2009 and we will see you on the water.

The First Snow

It had to happen sooner or later, we had our first dusting of snow yesterday. The temps are in the 30's right now and the furnace is working hard. Even with the colder weather, there is still plenty of time to buy and sell real estate this year. And yes it usually is a slower market here at the lake in December and January but if we have nice weather the market gets hot quick. Prices are still holding their own with a slight drop in value. Come the middle of February I predict that the prices will be on the rise once again for the spring rush of buyers.

So if you are thing about buying, now is the time to take advantage of the low interest rates and low prices. The trees, flowers and prices will all start to grow come spring so don't be left out in the cold. Think warm thoughts of enjoying the lake in your new home or condo.

2008 National REALTORS® Conference & Expo

Steve Gum of RE/MAX at the Lake and president-elect of the Lake of the Ozarks Board of REALTORS® recently attended the 2008 National REALTORS® Conference & Expo in Orlando, Florida. There REALTORS® see their referrals and sales increase significantly from the networking and education they gain and to learn about industry trends, new technology and innovative products and services. Special seminars and education sessions provide REALTORS® with the know-how they need to better serve their community. More than 400 exhibitors make REALTORS® Expo the world's largest, most comprehensive real estate products supermarket. The Conference & Expo is guaranteed to make you proud to be a REALTOR®!

New Listing - Hunters Retreat

Are you looking for some land. I just listed a great place for hunters and fisherman. It is 149 acres with 7 ponds, 2 cabins, mixed open pasture and timber, fenced and cross fenced. There is also about a 1/2 acre grape vineyard for you winemakers. This would be a nice place to call home or continue to lease out to the sportsman. It is located on a blacktop road very close to lake access. Check this one out. Priced at ONLY $295,000. Click here to view more info.

Time to winterize your vacation home and boat

It's that time of the year again. I just returned from the National Association of REALTORS business conference in Florida where it was in the upper 70's and sunny. Now I come home to cold and cloudy. If you have a boat that needs winterizing, NOW is the time to get it done. It is also the time to winterize your lake home if you don't plan on using it until spring. A few hours of work now can save many dollars of repairs later. They are saying it will get down into the mid 20's later this week so don't wait too long!

2008 Sales Stats

2008 SALES STATS
JAN. 1ST - OCT. 31ST

TOTAL RESIDENTIAL SOLD:

TOTAL HOMES SOLD 2008: 1035

AVERAGE SALE PRICE: $230,829

AVERAGE DAYS ON MARKET: 122

TOTAL LOTS & LAND SOLD:

TOTAL LOTS & LAND SOLD: 219

AVERAGE SALE PRICE: $96,925

AVERAGE DAYS ON MARKET: 206

TOTAL COMMERCIAL SOLD:

TOTAL COMMERCIAL SOLD: 51

AVERAGE SALE PRICE: $436,822

AVERAGE DAYS ON MARKET: 189

TOTAL CONDO’S SOLD:

TOTAL CONDO’S SOLD 2008: 521

AVERAGE SALE PRICE: $200,169

AVERAGE DAYS ON MARKET: 207

This information is based on MLS data for January 1st through Oct. 31st, 2008 for LOBR & BDAR. Information is deemed reliable but not guaranteed.