Shootout

Lake of the Ozarks Fire and Rescue is one of my favorite events because I have seen it go from a little boating get together to see who has the fastest boat in front of Shooters 21 to becoming a Top 10 “must see” boating event in the US according to Powerboat Magazine. This has been a yearly event since 1988, and it now serves a charity fundraiser fro Lake area fire and rescue teams, so it really is a great event for a great cause. Record speeds of over 209 miles per hour has been reached, although last years winner “only ” went 178 mph!

Last Years Winner

There are a variety of events that start the 25th, including a benefit Golf Tournament, the very fun PWC Dam run on the 27th, a Poker Run for powerboats on the 28th, and the stereo shootout at Dog Days the same day. This is a great time for the whole family, and one of the Last big blowouts of the summer. Don’t miss it.

Beach at Captain Rons

One of my favorite Lakefront hangouts is Captain Rons.  With 3 young children I like the atmosphere and the secure sandy beach where the kids can play in safety and the adults can order food and drinks.  The facility has very good dockage as well.  It is located at the 34 milemarker just downstream from the Hurricane Deck Bridge.  By car you can find it at Lake road 5-50 just north of the Hurricane Deck Bridge.  They will be hosting the Lake Rescue Shootout for the second year August 25th through the 30th, with the actual races on Saturday and Sunday, August 29th and 30th.

I just saw a national stat that 20% of all sales in 2008 were foreclosures.  Yes, we are seeing an increase at the Lake of the Ozarks, but for the year 2008, only .008 of residential sales were listed as  a foreclosure. 

CURRENT UPDATE 2012:  In 2011, there were 274  foreclosure sales.  In 2010, there were 382 foreclosures sold.  That’s a big decrease.  Like a 28% decrease.   If you are a buyer, this means you are missing the best time to nab a foreclosure buy.  Here are the current foreclosure deals at the Lake of the Ozarks.

Everyone is looking for a deal, and choosing the right buyer’s agent to work with is crucial and critical.  I like to say that “I can deliver certainty of outcome.”  You will be certain that you didn’t overpay for property and you will feel comfortable with your deal.  I sell enough real estate that no one deal is going to make or break me, so you won’t feel pressure from me to go ahead and buy a deal that you are not 100% convinced is right for you. 

If you would like to interview me to see if we might be able to work together, call 573-480-6420 or e-mail me.   

Lake of the Ozarks

Speeds were way down, but the enthusiasm that a new venue on a different part brought to the table in 2008 made the Shootout a success.   Next year promises to be even better, there were a lot of bugs to work out of the new location at the 34 milemarker and Captain Rons, and they did a great job with the event, which has been called one the the ten “must see” powerboat races by

Bug Light Dave Scott

 Dave Scott once again claimed the Top Gun trophy, and the event raised a lot of much needed funding for area Fire and Rescue teams. Speeds were way down, but last year was exceptional  2007 Fire and Rescue Shootout 

Many teams were preparing for the OSS race and chose to race only in one event.    

Lake of the Ozarks

   Some of the best views happened away from the track!   If you need more information about this event, or real estate at the Lake of the Ozarks, call John Garrett at 573-302-2320.

The series include the OSS Cat, Oss Cat Lite, OSS Vee, OSS Vee Lite, OSS Cat Outboard, OSS Cat Extreme, and the OSS Turbine Extreme.  Powerboat Magazine

Team CRC won the OSS Cat Extreme competition, with Bud Light a close second. The national title went to Team CRC with Lake of the Ozarks boats Bud Light (Dave Scott) and Bad Moon Risin’ (Bob Morgan) finishing second and third in the season long race.

The OSS Cat Supercharged saw Fury taking first in the race and WHM motorsports (pictured above) that won the national championship.   Congrats on your first national title. 

Team AMSOIL finished first with second going to Peppers.

In OSS Turbine Extreme action, Miss GEICO beat the new JBS Racing boat (beautiful boat) and take home the championship.

Under Destruction just beat out Typhoon and Wild Ride in the OSS Vee Lite class.   Wild Ride won the season’s national championship title.

Special thanks to Merlyn Vandervort and the Toad Cove for making this event a great success .

It’s time!  The old Shooter’s Shootout has become the Lake Fire and Rescue Shootout.  Here is this years schedule.  This has become the largest non sanctioned boat race in the US!  Powerboating Magazine calls this one of the 8 boat races you need to see!  This is your chance to get up close and personal to the World’s most powerful offshore performance boats.  The spectator fleet is allowed right by the course, and you can walk the pits at Shooter’s 21 and see the boats up close.

UPDATE:

Dave Callen beats his own record at 209 mph!

More Pics

This is a great unit where you can park right in front of the condo and have no steps into the unit.  The 12 x 30 boat dock is close by, and so is the pool.  The deck is screened-in, and has tile flooring.  The unit was professionally decorated, you will be impressed by the colors, decorations, and furniture.

Parkview is a great family location, and has all the amenities a renter would want in a Lake front community.

A 12×30 slip right in front of the unit, just a few steps away is available.

 See the link below to get more information from Vacation Renter By Owner.

While a reverse mortgage is usually used to help seniors have housing options in their later years, it’s rarely thought of as a way to maximize returns on a second home purchase.

Here’s a hypothetical scenario using Mr. and Mrs. Jones, who thanks to a wise purchase and many mortgage payments own a home valued at $425,000 free and clear.

Using a HUD Home Equity Conversion Mortgage (HECM) (that can be used by homeowners who are 62 years of age and older) the Jones could net up to $120,000 using the formula that is a mix of interest rate, the borrowers age, and equity in the home.  For example, on the basis of a loan at recent interest rates, a 65-year-old could borrow up to 26 percent of the home’s value, a 75-year-old could borrow up to 39 percent, and an 85-year-old could borrow up to 56 percent.  The rest of the balance needed can be obtained from other sources, such as a retirement fund or cash. 

The borrower remains the owner of the home and may sell it and move at any time, keeping the sales proceeds that exceed the mortgage balance. A borrower cannot be forced to sell the home to pay off the mortgage, even if the mortgage balance grows to exceed the value of the property. A HECM loan need not be repaid until the borrower moves, sells, or dies. When the loan must be paid, if it exceeds the value of the property, the borrower (or the heirs) will owe no more than the value of the property. FHA insurance will cover any balance due the lender.

So the Jones’ take their $120,000 and add another $30,000 from a retirement account to buy a condominium at the Lake of the Ozarks.  They now own that condo free and clear, as the reverse mortgage is attached to their primary home.  The Jones will have no mortgage payment on either property, and have the option of living where they want, when they want to, with no real concerns of having to spend more time at one property over the other, or worrying about which one is the primary residence for tax reasons. 

So why not just sell the primary home and take the tax exclusion, then buy at the Lake of the Ozarks for cash?  That is an option, but the reverse mortgage eliminates any new monthly mortgage payment, and helps them to keep more of the sales proceeds from their primary home and that translated as a larger amount of savings.  If the home appreciates in value, that money is yours to keep. 

If you have any questions about financing your second home purchase at the Lake of the Ozarks, please feel free to call John Garrett at Prudential Lake Ozark Realty, 573-480-6420. 

Lake of the Ozarks condo sales were up from 17 million in April of 2006 to 18.2 million in April 2007.  This is good news for condo sales, and the year to date totals for 2007 have almost caught up to the YTD totals for 2006, lagging behind at $54,530,355 versus $58,748,060 for 2006.  Price per square foot from April 2006 was $129.72, increasing to $142.50 in 2007.  Condo sales had been waaay off the first few months, but much of that can be attributed to the inclimate weather.

Condo sales appear to be right back on pace, and the early May returns look very strong.

UPDATE 2011 here are more current numbers

Search Lake of the Ozarks Foreclosures here!   RE/MAX Lake of the Ozarks sales numbers once again show strength.  April 2007 sales were up an amazing 29% over April of last year!  There’s no slump or bubble in this market – from our perspective.  Our amazing run in 2006 ended with over 300 million dollars in sales, and we are already past 85 million year to date this year – even with the poor weather to start 2007!

The dollar volume for the entire Year to date is up 12%, and the number of sales is quickly catching up to the record pace of 2006, with 339 closed transactions through April.

John Garrett Real Estate broker Lake of the Ozarks now works for Prudential Lake Ozark Realty and can be reached at 573-480-6420.  Updated 2011