Tara Condo

Here is an affordable condominium with a great location and all the amentities you expect at the Lake. A 10 x 24 boat slip is included, and this condo is right next to the pool. You have plenty of extra parking for guests, and just one step into the unit. This is the perfect first condo at the Lake, and would most likely qualify for the $8000 first time home buyer program. Don’t wait, this is a rare opportunity and it won’t be here for long! Call John Garrett 573-480-6420 today!

More Pictures here

Let’s look at a real life example of this in action.  This property was listed as a fannie mae foreclosure and it was hot hot hot.  Everyone was rushing to see it, and it was located in a very nice condo project known as the Breakers.  The unit had been terribly painted, and the color scheme was quite bad.  There were mirrors missing in the bathrooms, and it probably needed $3500 of repair and remodeling.  It was also unfurnished.   It was purchase for $154,000.

Now look at this Breakers unit I just recently sold to a buyer that was bought for $147,000, fully furnished, in immaculate condition, including all electronics, a boat hoist, towels, bed linens, totally turnkey and in A+ condition.  I’d have to say that not only did this one not need the additional $3500 to be spent on repair, it had an additional $10,000 to $12,000 of value the other lacked.  That is around $22,000 difference in the two!

Condo sold by John Garrett

    So don’t be too quick to think that foreclosures are your guaranteed best bet in this buyer’s market.  Many seller’s have adjusted their prices using sold foreclosure comps, and these seller’s will be the first to sell.  Don’t fall for agents offering “A free list of area foreclosures” thinking it puts you ahead of the game.  Hire a Buyer’s Broker and look at all MLS properties, you might find the one you have been waiting for!     

This might be the finest condominium unit I ever sold for under $150,000 at the Lake of the Ozarks in 15 years of selling Lake real estate.  Perfect condition, large boat slip, hoist, it is really as nice a turnkey package as you could ask for. 

This buyer wasn’t afraid of the doom and gloom, and I appreciate that.  They were able to lock in a fantastic fixed rate and buy at a very nice discount.   The Breakers is a condominium project located on Horseshoe Bend in Lake Ozark, and is one of the better maintained condo project at the Lake of the Ozarks.

My last three condo sales in late June and July 2009 were all challenging but all closed successfully.   The condos were all good units, actually great buys, and the buyer’s were all qualified.  The condo projects themselves were all strong, well funded, and very well established.  The trouble came from some external factors to our market, namely Fannie Mae and Freddie Mac.   Their reponse to record losses and bad loans and management choices would appear to be to make it almost impossible to get a loan.  Not exactly the best way to get your company out of receivership, is it?  Of course, they are also raising fees so they can make up for the loss of volume.    

Fannie Mae used to guarantee mortgages where 51% of the units in a building had been sold.   In their infinite wisdom they have now decided they would raise the level to 70%.  In other words, until 71% are sold out, they won’t make a loan.   How as agents are we supposed to sell 71% of them if we can’t get a decent loan?    Fannie will no longer back loans for sales in buildings where 15% of current owners are delinquent on home owners association fees.  More rules, more regs, more hurdles to getting these markets back to some seblance of normal.  

The good news is that this is the time for a qualified buyer to swoop into this market and take full advantage of a once in a lifetime buyer’s market!  Lock in that fixed rate loan for five and a half percent and get the great buy you missed 7 to 8 years ago. 

Don’t wait, get pre qualified (oe better yet bring cash) and contact a well qualifed agent that has actually sold units with these new rules and guidelines in place.

Lake of the ozarks condo

John Garrett just sold a beautiful condominium unit in Lake Ozark.  Yes, it has been a bit more difficult to secure financing for condos, but with an experienced agent it is possible to buy a condo and get a really great deal at this time.  Rates can be locked in under 6 percent for 30 years, that is a real value!  Call John with any question 573-302-2320.

Emerald Bay

John Garrett Broker Sales with RE/MAX Lake of the Ozarks just sold another Lake of the Ozarks condominium.  This great condo at Emerald Bay is right on the water and included a boat dock at 10,000lb hoist.  The buyers were referred to John Garrett from another RE/MAX agent from out of town.   The majority of John Garrett’s business comes from referrals of other agents and his past clients, John is never too busy to help a referred client at the Lake of the Ozarks. 

If you are serious about buying or selling at the Lake of the Ozarks, call John Garrett to get the results you are looking for.  Call anytime at 573-302-2320 or e-mail me at jgarrett@remax.net.  

John Garrett Sold another Parkview Bay Condominium in Osage Beach Missouri on July 6th 2009. The offer was for cash and closed in 14 days! Parkview Bay has always been one of my favorite condominium projects, whether renting or buying you cannot go wrong with that awesome location and the big view of the State Park. If you need any additional information on Parkview Bay Condominiums in Osage Beach, do not hesitate to give me a call at 573-302-2320.

Parkview Bay Driving Directions

Parkview Bay Condo for Rent

From US Hwy 54 in Osage Beach, if you are coming from the West or North (technically Hwy 54 is an East/West Hwy, but through Osage Beach it runs almost straight North/South).  It is past the Outlet Mall, Happy Fisherman, Golden Door motel, and Big O tires from the North, it is the last stoplight intersection before you get to the Grand Glaize Bridge.  If you cross the bridge, you have gone too far.   Turn left at the intersection on Passover Road.

From the South, you simply cross the Bridge and turn right at the next Light on Passover road.

Stay on Passover Road and go straight at the 4 way stop sign.  Go about ¼ mile and look for a large stone and granite sign that reads PARKVIEW BAY on your left and turn into entrance.

The Towers units are to your right, the Parkview Bay Condos are to the left.  For the rental unit from VRBO, go down the hill until you must go left or right, go left towards Building One.  The unit is unit #123 and is a walk-in unit.  Call John Garrett with any questions, 573-480-6420.