Porto Cima Waterfront Homes

Porto Cima saw over twenty three million dollars in waterfont homes sold in 2006.  The average price per square foot was $249.72, up 13% from 2005.  There were 20 waterfront homes sold through the MLS, so this was the first year the average sale in this area was for more than a million dollars. There were actually seven homes sold for over a million dollars, and three of those sold for over two million dollars.

The average size of these homes was 4720 sq ft, and the largest sale was 7500 sq ft.

If you have any questions about Porto Cima or buying or selling Lake of the Ozarks real estate, you can always contact John Garrett at 573-302-2320 or e-mail me for a fast response.

Porto Cima

Found on the Shawnee Bend peninsula at Missouri’s Lake of the Ozarks, Porto Cima combines 2,300 acres of rolling hills and native oak trees with a Jack Nicklaus-signature golf course and a meticulous plan to deliver one of the Midwest’s finest golfing communities. Today, Porto Cima (Italian for “hillside harbor”) thrives as a luxury waterfront community and one of the finest private clubs in the Midwest.

“On a scale of one to ten, this is as close to a ten – if there ever was a ten…” — Jack Nicklaus

As a Waterfront Golf Community, it rivals anything that can be found in the midwest.  The advanatge of having private ownership of the waterfront makes this a very unique chance to own at the premier lakefront golf community in the midwest.

If you have any questions about Porto Cima or buying or selling Lake of the Ozarks real estate, you can always contact John Garrett at 573-302-2320 or e-mail me for a fast response.

Cost of building a Luxury home at the Lake of the Ozarks

A quick look at million dollar homes that were built in 2006 that sold in 2006 in Porto Cima and The Villages shows a price (including the lot) completed of $282 per sq ft.

If you have any questions buying or selling luxury homes at the Lake of the Ozarks , you can always contact John Garrett at 573-302-2320 or e-mail me for a fast response.

Advice on buying a luxury waterfront home at the Lake of the Ozarks

Here’s some advice on buying a luxury waterfront home at the Lake of the Ozarks.

Get a Good Agent While the Internet gives you a great deal of advanced information, it rarely tells you the whole story. Many upper end homes at the Lake of the Ozarks are not officially on the “for sale” market, but the good agents know which ones are available. The Lake of the Ozarks is a very different place than most metro areas, and a good agent can pay dividends in both time spent searching for a home and when it comes time to make an offer.

Get your Finances Together Get either a letter of credit (if you’re paying cash) or a pre-approval letter from a lender. Many upper end homeowners won’t allow a buyer to view their property without proof of pre-approval. The pre-approval will do nothing but help you when the time comes to negotiate on the contract, and gives you better leverage and a “cleaner” contract once the question of financing is removed form the equation. This is also a good time in the process to consider the tax implications of purchasing this home. Talk with your tax advisor about whether to preserve cash and obtain a higher mortgage for the tax write-off, and discuss capital gains, etc.

Get an Inspection Even if the home is new construction, you will want to have it inspected in a timely manner and make sure to have contingencies written into the contract for your protection. You would be surprised at what can be wrong with a house that looks perfect from the outside!

Look at the Surrounding Area Consider that many million dollar homes are unique, and often are set apart from the other homes in the area. Be sure you know exactly what the future plans are for any undeveloped land nearby. Get in writing from your real estate agent what is known at this time. After all, your agent’s expertise and local knowledge is what they are getting paid for. Make sure there is proper zoning for the area to make sure you don’t end up with a waterfront bar as your new neighbor!

Making the Offer Now we get down to the fun! What I find that works best at the Lake of the Ozarks is to make the offer for 95% of what you are willing to pay for the property. A good buyers agent can help you to determine what is a fair price for the home. Make an offer any lower and you risk insulting the seller, and the property will end up costing you more to acquire, and any higher and you may end up paying more than was necessary in the first place. One of the many unique nuisances of the Lake is the personal property that is often conveyed to the buyer. Furnishings, boat docks, hoists for boats, even watercraft end up on our contracts. While this is an appraisers nightmare, it is simply a matter of convenience for the buyer and seller. I try to include as much of these negotiable items in my first 95% offer as possible. The worst thing that can happen is they can say NO, but at the same time no one is insulted, it’s just the game being played. Again, a good agent will be able to gauge the sellers response to let you know what to do if there is a counter offer to your first offer. Good luck, and don’t hesitate to E-mail me or call me with any real estate questions!

2006 Luxury waterfront home market at the Lake of the Ozarks

2006 has seen a flurry of sold activity in the Luxury home market at the Lake of the Ozarks. There were 157 homes sold in the Luxury Home category (over $450,000) and 29 of those were over the one million dollar mark. Seven of those home were over two million dollars, with one topping out at over four million dollars.

Luxury Condominiums at the Lake of the Ozarks

What qualifies as a Luxury condo at the Lake of the Ozarks?  Here’s a listing that was sold by RE/MAX Lake of the Ozarks in 2006.

“Fantastic waterfront townhome in Punto Piloto. This home features; Mosaic tile work, all electronics down stairs with surround sound, and big screen TV, see thru fireplace (between kitchen living room), cabinets in laundry, tile in master shower, 2 master suites, 2 hot water heaters, power water to dock, wonderful view with cove protection.”

In 2006, there were 8 condos sold for more than $500,000, but expect this number to climb dramatically in the next fews years.  Replacement cost and demand will provide a lot of upward pressure on the Luxury Condo market at the Lake of the Ozarks.

There are currently 36 waterfront porto cima properties ranging from $587,00 to 3.2 million, with two pending at $989,5000 and $2,850,000. Found on the Shawnee Bend peninsula at Missouri’s Lake of the Ozarks, Porto Cima combines 2,300 acres of rolling hills and native oak trees with a Jack Nicklaus-signature golf course and a meticulous plan to deliver one of the Midwest’s finest golfing communities. Today, Porto Cima (Italian for “hillside harbor”) thrives as a luxury waterfront community and one of the finest private clubs in the Midwest. Call or e-mail for an up to the second list of properties in this area. 573-302-2320.

Lake of the Ozarks luxury hospitality

Investment Profile: In the Lap of LuxuryBuyers continue to book high-end hospitality assets.By Sara Drummond
It’s hard to find an unhappy hotel owner, developer, or investor at any level this year. Global travel and tourism topped $6 trillion in 2005, growing 5.7 percent, and 4.2 percent annual growth is forecast for the next 10 years, according to the World Travel and Tourism Council. Business travel also has returned to levels unseen since Sept. 11, 2001, and is expected to grow by 2 percent, according to Marcus & Millichap.
For luxury properties the outlook is especially strong. Just three years ago, PricewaterhouseCoopers forecast 1 percent growth in luxury revenue per available room. In 2005, its estimate jumped to 12.8 percent. While PWC moderates luxury RevPAR growth for 2006 and 2007 to 9.4 and 8.9 percent respectively, those forecasts are among the highest for all hospitality segments. Luxury occupancy is expected to gain 70 basis points to 71.4 percent, according to Marcus & Millichap’s Spring 2006 Hospitality Research Report, which also forecasts a 7.6 percent increase in average daily rates for luxury properties.
more…. http://ciremagazine.com/article.php?article_id=975

Here’s a new Lake development that is looking to capitalize on this market

http://lakeoftheozarksreal-estate.com/files/247692/Toad%20Cove%20Floorplans.pdf