There's A Very Good Reason Why The New Home Sales Data Plunged In November

There’s always more to the story than the headline. Sometimes, you have to dig deeper. Looking back over 10 months, the housing market is on a steady course of improvement. Read the rest of the story.

10 Trouble Spots to Consider When Purchasing a Foreclosed Home

RISMEDIA, December 21, 2009—It's easy pickings out there for many potential homebuyers. Housing prices are at their lowest in more than a decade, inventories are high, analysts are predicting a new wave of foreclosures and the government is offering two substantial tax credits for which many homebuyers qualify. But bargain buyers beware, warns Vince Mastronardi, whose property preservation business has been busy preparing Continued

Real Estate Outlook: Signs of Rebound

Unemployment and foreclosures continue to be huge weights holding back the economy, but housing's performance is just the opposite: Its signs of rebound keep getting stronger and stronger.
Full Story: http://realtytimes.com/rtpages/20091208_realestateoutlook.htm

7 Things All Buyers Ought to Know

"Ignorance is bliss" was never said about real estate purchases for 7 good reasons. PJ Wade shares sound insights and practical solutions for buyers in any market.
Full Story: http://realtytimes.com/rtpages/20091117_buyers.htm

Higher Home Prices Ahead, Says The Pending Home Sales Index

When the Pending Home Sales Index rises, it tells us that market activity has picked up. September’s data confirms what we’ve been noticing since February — the Buyers Market is ending. READ MORE...

U.S. Department of Housing and Urban Development (HUD)

WASHINGTON, DC - Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan called on Congress to approve three important measures to improve housing and the housing market for Americans: extension ... READ MORE...

59% of Home Buyers Rely on Low Down-Payment Government Mortgages

RISMEDIA, October 21, 2009—The new home market is cooling down and government intervention has been a key driver to new home sales, according to a recent monthly survey of home builders, just released by John Burns Real Estate Consulting. In addition to the tax credit that expires Nov. 30, government mortgage programs have been critical in 2009. The survey reveals that 59% of this year's sales have been dependent on FHA, VA Continued

PHOTOS FROM AROUND THE LAKE!

Here are a few shots from around the lake.

Real Estate Outlook: Warning of Slow Down?

Though some economic analysts are warning that the housing market's rebound will slow down as the weather turns colder, this week's numbers show no hints of that.
Full Story: http://realtytimes.com/rtpages/20091013_realestateoutlook.htm

Real Estate Outlook: Sales Stats and Rates

Regionally, pending sales were up by 8.2 percent in the Northeast, 7.6 percent in the Midwest, by just less than one percent in the South, and up a stunning 16 percent in the Western states.
Full Story: http://realtytimes.com/rtpages/20091006_realestateoutlook.htm

Real Estate Investment 101

It's one of the best of times ever to invest in real estate, but just like buying a home to live in, taking the real estate investment plunge requires lots of foresight.
Full Story: http://realtytimes.com/rtpages/20090924_invest.htm

PRICE REDUCED FOR QUICK SALE

FREE Homebuyers Workshop

You’re Invited to a FREE Homebuyer Workshop Tue. 9/22 from 5:30 - 6:30pm Lower Level RE/MAX at the Lake in Laurie, MO Please join us for a free homebuyer workshop, sponsored by Bank of America. This workshop is designed to provide insight on each step of the homebuying process from a dedicated and experienced Bank of America mortgage loan officer.You’ll get useful tips on: The benefits of owning a home Determining how much home you can afford Understanding, establishing and repairing credit Affordable mortgage programs offered by Bank of America Don’t miss this opportunity to learn about the homebuying process from a lending professional. If you are interested in attending, please contact me for details.

Real Estate Outlook: A Bright Market

Pending home sales jumped again. They were up by 3.2 percent for the month of July, according to the National Association of Realtors. That's the sixth straight month of increases. The pending sales index is now at its highest level since June of 2007, and is 12 percent above a year ago.
Full Story: http://realtytimes.com/rtpages/20090908_realestateoutlook.htm

First-Time Home Buyers Dominate Real Estate Market

RISMEDIA, August 27, 2009-With the first-time home buyer's tax credit in full effect, younger buyers are taking the opportunity to enter the real estate market and the New Jersey real estate market has seen its fair share of first-time buyers enter the playing field recently. Across the state, agents are finding that they must consider Continued

Up to $14,999 Down Payment When Purchasing Foreclosed Property

New Program To Help Stabilize Missouri Neighborhoods

MHDC is offering a new product to help stabilize and rebuild the neighborhoods of Missouri hard hit by the housing downturn. The commission received $4.2 million from the Neighborhood Stabilization Program (NSP), which was part of the Housing and Economic Recovery Act of 2008. These funds are intended to be used for down payment and closing cost assistance for qualified buyers purchasing foreclosed property that will be used as the owner’s principal residence. For more info click here:

Factors That Do Not Affect the Value of Real Estate

I read this article and think that all home owners thinking about selling should read it.

When selling a home, there are many factors which affect market value and the eventual sale price of a home, such as location, condition, size, amenities, features, improvements and upgrades, local economic conditions, the current real estate market and mortgage interest rates, among others. Some of these factors are within the control of the owner, and others are beyond the control of the owner.
Full Story: http://realtytimes.com/rtpages/20090805_factors.htm

New Home Sales Up 11%

WASHINGTON — New US home sales leapt 11 percent in June, government data showed Monday in a further sign of recovery for the sector at the epicenter of the ... Read More

Dock owners must post 911 address by next summer

A new law will affect boat dock owners at the Lake of the Ozarks in 2010 thanks to HB 657 sponsored by lake resident Representative Dr. Wayne Cooper (R - Camden County).

Beginning next summer all dock owners will be required by law to post the recognized 911 street address of the adjacent land. According to the bill, the 911 address must be displayed on the lake side of the dock in the area most visible from the channel or cove.

The address must be at at least three-inch block style lettering and should be in a contrasting color to the background on which it is displayed. The penalty for not posting this information is a $25 fine for each time the delinquency is cited. Click here to read the rest of the story.

First-Time Home Buyers Eager to Reap Tax Credit Benefits, but Unsure of Details

The federal tax credit for first-time home buyers is now half way to its Dec. 1, 2009, expiration date, and it seems fair to ask just how much it is helping real estate markets. The RE/MAX network in northern Illinois did just that, interviewing 40 RE/MAX agents from across the region about how the tax credit is impacting the first-time buyers with whom they work. Continued

Lake Front Cabin For Sale

Here is your chance to own your own lake front cabin that comes complete with everything you need to enjoy the lake. It comes with furniture, linens, dishes, nice dock with boat hoist, and a swim deck. All of this at a price you can't pass up. ONLY $169,000 and it is yours.
Check out mls #3061853 or go to www.OzarkHome.com/mls3061853

NAR: Home Hunting without Fear

Those who've suffered the agony of defeat in what's likely the most dangerous consumer game, learned the hard way that sheer fearlessness isn't enough to become and remain a homeowner -- through good times and bad.
Full Story: http://realtytimes.com/rtpages/20090716_homehunt.htm

Pending Home Sales Record Fourth Straight Monthly Gain

Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity. Read more >

Dock owners must post 911 address

A new law will affect boat dock owners at the Lake of the Ozarks in 2010 thanks to HB 657 sponsored by lake resident Representative Dr. Wayne Cooper (R - Camden County).
Full story click here.

Selling Home May Be Influenced by What Buyers Can't See

It’s not always what buyers can see in a home that causes them to want to buy it or not. Sometimes it’s the way the home feels.
Full Story: http://realtytimes.com/rtpages/20090619_nosee.htm

Washington Report: Housing Tax Credit

A campaign to extend and expand the housing tax credit officially got underway on Capitol Hill last week.
Full Story: http://realtytimes.com/rtpages/20090615_washingtonreport.htm

Rally for the Cure

The Indian Rock Ladies Golf League and RE/MAX at the Lake have committed, with great enthusiasm, to host a Rally for the Cure Golf Tournament on June 22nd, 2009. Rally for the Cure is a grassroots organization that works to spread awareness about breast health and breast cancer through golf, tennis and dining events.

Rally has been supporting Susan G. Komen for the Cure's commitment to awareness as the first step in eliminating breast cancer since 1996. Monies raised through Rally and fundraising efforts, like this golf tournament has generated over $46 million and counting for Komen.

We invite you to join Indian Rock Ladies Golf League and RE/MAX at the Lake in their efforts by sponsoring a hole, a silent auction item or attendance prizes at their upcoming Rally.

For more information, please contact Steve Gum at 573-280-5754 or by e-mail at callsteve@ozarkhome.com

Thank you for your support!

Washington Report: $8,000 Tax Credit

Home builders and Realtors cheered in Washington last week when HUD Secretary Shaun Donovan announced that FHA will allow lenders and government agencies to “monetize” the $8,000 federal homebuyer tax credit, providing purchasers with downpayment cash upfront, available at closing, rather than waiting for the IRS to mail them a tax credit check.
Full Story: http://realtytimes.com/rtpages/20090518_washingtonreport.htm

Appraisers Advise Sellers How to Get Top Dollar

Appraisers determine the true market value of homes so they know what it takes to boost property values. Listen to what they say about getting your home ready for market so that it sells for the greatest amount possible.
Full Story: http://realtytimes.com/rtpages/20090514_appraisal.htm

Buying Condo Now More Difficult: Fully Research The Complex Before You Buy

When the real estate bubble burst, so too, did the dreams of many speculators who were snatching up and flipping condos like hotcakes. Today, buying a condo can still be a great choice but getting financing for it could be a bit more challenging because some financial institutions are "blacklisting" some condo complexes due to high speculator ownership and dropping prices.
Full Story: http://realtytimes.com/rtpages/20090508_buycondo.htm

Pending home sales up 3.2 percent

The National Association of Realtors says pending U.S. home sales rose from February to March as buyers took advantage of deeply discounted prices and low interest rates.

Full story

The World's 10 Best Places to Live, 2009 Edition

In Mercer Consulting's annual Quality of Living Survey, Europe once again rules the roost. See which locales ranked highest and find out whether any U.S. cities made the cut... read more

No Money to Buy a Home? Try These Savings Tips

For many people, buying their own home is still the American dream. Yet, it remains out of reach for a lot of people, even though the housing affordability index in many areas of the country is as good as it's ever been. But if you're not prepared to buy a house, then the index doesn't mean a thing to you—except, perhaps, to create a painful sting and a constant reminder that you're missing out on a good opportunity to buy real estate at lower prices.

Full Story: http://realtytimes.com/rtpages/20090417_savingtips.htm

Real Estate Outlook: Sales Rising?

Pushed by a powerful combination of historically-low fixed mortgage rates, an $8,000 tax credit, and affordable prices, sales of existing homes jumped 5 percent in February compared with the same month last year.
Full Story: http://realtytimes.com/rtpages/20090331_realestateoutlook.htm

Hot Market: Bloomberg: 2008 Home Prices Increase in Various U.S. States

Buried at the tail end of new report on Bloomberg.com was the news we've all been waiting for -- home sales price increases. The headline was pointing out how home prices had dropped in 70% of states across the country (34 states); which meant that there were, indeed, states where home prices increased.

Full Story: http://realtytimes.com/rtpages/20090327_hotmarket.htm

Mortgage Rates Dip in Response to Fed's Decision to Buy Treasury Bonds and Mortgage Securities

RISMEDIA, March 23, 2009—(MCT)—Mortgage rates are again dropping to near-record lows - below 5% - in the wake of the Federal Reserve's decision to buy up Treasury bonds and mortgage securities. Continued

INTEREST RATES BELOW 5%

I just received my daily interest rate update. Can you believe that it was

30 yr fixed 4.625%

15 yr fixed 4.50%

I don't think I have ever seen rates this low. It is no wonder home buyers are getting excited about buying a home right now. If you throw in the 10% or up to $8,000 First Time Buyers Credit what could be better. If you have not owned a home in the last three years you could qualify as a First Time home buyer.

Home prices are low and rates are even lower, inventory is high and people are ready to deal. If you have been think about buying your first home or that weekend get-away, give me a call and we will work together to find that right property. Now is the time to buy!!!!!

Real Estate Outlook: Balancing the News

Sometimes bad economic news comes at you so hard and fast that you forget to notice some of the more encouraging trends that may be underway, like super low mortgage rates, record-setting affordability, new tax credits, and big sales increases in the boom-to-bust real estate markets of Florida, California and Nevada.

Full Story: http://realtytimes.com/rtpages/20090310_realestateoutlook.htm

Real Estate Outlook: Housing Positioned For Growth

No economist has more information at his or her disposal than Federal Reserve chairman Ben Bernanke, and what he told Congress last week should be encouraging news for anyone interested in real estate: The recession that has gripped the country painfully for 18 months will "end" later this year - moving us into positive economic growth.
Full Story: http://realtytimes.com/rtpages/20090303_realestateoutlook.htm

Introducing Distressed Homeowners to Their Options

The first step is to educate homeowners in your area. Most homeowners think they have only two options – pay up or move out. The fact is that more than a dozen options are available. Although all of these options may not be realistic for every homeowner, most homeowners can realistically consider at least four or five of the options on this list:

Full Story: http://realtytimes.com/rtpages/20090223_options.htm

Buy Now! Beat The Spring Rush

Record low interest rates, low-low home prices, less competition and other factors have converged. You've got plenty of time to beat the spring rush. Use it wisely.
Full Story: http://realtytimes.com/rtpages/20090219_buynow.htm

Real Estate Outlook: Encouraging Signs

Could the tide be turning for real estate? It's probably premature to make that call, but you can't ignore the encouraging signs -- especially when they come in multiples.
Full Story: http://realtytimes.com/rtpages/20090210_realestateoutlook.htm

COMPARE 2008—2007—2006 SALES STATS

RESIDENTIAL SOLD STATISTICS:
TOTAL HOMES SOLD 2008: 1149
TOTAL HOMES SOLD 2007: 1601
TOTAL HOMES SOLD 2006: 1837
AVERAGE SALE PRICE 2008: $228,030
AVERAGE SALE PRICE 2007: $242,250
AVERAGE SALE PRICE 2006: $236,793
MEDIAN SALE PRICE 2008: $160,000
MEDIAN SALE PRICE 2008: $175,000
MEDIAN SALE PRICE 2008: $179,500
AVE. DAYS ON MARKET 2008: 120
AVE. DAYS ON MARKET 2007: 121
AVE. DAYS ON MARKET 2006: 119
TOTAL SELL VOLUME 2008: $262,006,645
TOTAL SELL VOLUME 2007: $387,843,615
TOTAL SELL VOLUME 2006: $434,990,314

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

PRICE REDUCED !!!!

Now is the time to buy your home at the lake. Interest rates are low and so are the prices. But you had better hurry, prices seem to go back up in the late winter and early spring months.

This home has been reduced by $36,000 to make it the bargain of the week. 3 bedrooms, 3 baths, and almost 2,000 sq. ft. of living space along with 81' of lake frontage, 2-well dock w/hoists, suim deck, PWC lift, one car garage and very gentle lot in a No-Wake Cove. Priced at Only $289,000. Click here to view the virtual tour.

DOCK OWNERS GET ICY REMINDER

LAKE OF THE OZARKS, Mo. -- Dock owners awoke Friday to a hard winter reminder -- ice. It's innocent enough when 40-degree temperatures are on the way, but can be disastrous under other conditions. Sustained frigid temperatures will freeze surface water around docks, lifts and boats, prompting all kinds of expensive repairs. A deep freeze followed by a reduction in the lake level can be disastrous. When docks freeze, they become less flexible and do not move evenly as the water level reduces. This causes major structural stress, can break joints and twist boatlifts.

For more of this story, click on or type the URL below:http://lakeexpo.com/articles/2009/01/17/top_news/07.txt