Luxury Waterfront Home

I just previewed the finest Lake home I’ve seen to date, it is listed with RE/MAX Lake of the Ozarks and is located in the Villages on Shawnee Bend.  Wow, 6 bedrooms, 8 bathrooms, 3 full laundry rooms, and two full and two half kitchens. The finest travertine marble, granite, stone, slate, exotic ebony hardwood, knotty alder, are featured through this expansive home. State of the art sound, security, and technology is featured in every room offering all of your senses a treat.  Waterfront pool, plenty of room for a boat dock, elevator, all build by the Lake’s premier home builder. 

Trust me when I say this writeup or a few pictures cannot do this home justice.   If you want the best, this one is it.  Priced at $3,750,000

Luxury Waterfront Home Market Lake of the Ozarks.   

Forget trying to time this market, now is the time to step up and buy that deal of a lifetime at the Lake of the Ozarks.   Don’t be that guy that goes around telling everyone “Well I could have bought that for $$$$”.  Don’t you always want to say to that guy “then why didn’t you, are you crazy?  Oh, you don’t like making money!” 

An interesting look at the numbers show 26 sales over a million dollars in all of 2007, and through Novemeber 15th 2008 there have been 21 closings with a few pendings that could still close this year. 

That is not a whole lot of difference considering the turmoil that 2008 has seen in all markets.  If we drill down into the numbers a bit more, we see that the averge price per square foot paid decreased from $325 psf to $288 psf in the last year.  This market usually sees a healthy increase in price per square foot, so this decrease would mean a buyer today is not only paying 11% less, they are also saving the usual 12 to 15% appreciation we are used to.  A buyer today is looking at an average savings of something in the 23% range or better!   A fourth off the price you were looking at in 2006! 

 You make money when you buy, and right now really is the best time to buy.  Call John Garrett with any questions or comments. 

Buy a Luxury waterfront home at the Lake of the Ozarks

RE/Max Lake of the Ozarks recently held a real estate Symposium that featured pricing data from John Garrett.  The big surprise was how well the real estate market was doing, and that all all sectors saw price increase last year.  The second home market is somewhat immune to the current subprime fiasco, and as it was pointed out in our presentation, real estate is a local event, not a national trend.

Lawrence Yun, NAR chief economist, said the findings suggest different cycles for each of the sectors over the past two years.  “Investment-home sales declined sharply in 2006 as speculators disappeared, leaving the market to serious buyers, with the pattern continuing in 2007,” he said.  “Vacation-home sales rose to a new record in 2006 because there was a pent-up demand from buyers who couldn’t find a property as a result of tight supplies in preceding years.”  The great thing about the Lake of the Ozarks market is that we had very little participation from investors and speculators looking to ‘flip” property, and remained a retirement and second home market the last 5 years.  Not surprisingly, we are seeing a strong market that is weathering the current talk of a real estate “bubble”.

Luxury home sales of homes over $1,000,000 have increased from only 5 sales in 2003 to over 42 sales in 2007.  That is an increase of over 740% in that period, or an average of 148% per year!