John Garrett of RE/MAX Lake of the Ozarks has worked with many banks, governement agencies, trusts, and other entities that are looking for professional representation in Camden County Missouri.  John’s central location in Mid-Missouri allows him to adequately serve Camden as well as other counties, such as Miller, Morgan, Pulsaki, Laclede, Cole, Hickory, and Dallas County.   

John Garrett has been trained and has listed and sold many REO properties and can give you professional and ethical representation every step of the way.   Call 573-302-2320.

John Garrett Broker RE/MAX Lake of the Ozarks

 

 

How do I “interview” a Buyer’s Broker?

• They should have a Broker’s License in the State of Missouri.  Make sure more than 75% of their sales activity is in your desired area.
• Ask how long they have been full time in real estate.
• Ask them to produce sold listing sheets with their name as the selling agent to verify their claims.
• They should explain the duties of a buyer’s broker, and what happens in different situations, especially in “dual agency” situations.
• A good agent will spend more time listening rather than talking.  If they focus on how “great” they are, rather than getting to know your family, lifestyle, and needs, you don’t want them.
• The best agents can quickly tell you about the market, how it is performing compared to last year, how many “property showings” their company has had in the last 30 days, how many contracts were written and accepted during that time, and what property is currently selling for per square foot in different areas.   This will “weed out” 90% of the agents right here.   They should be able to answer this off the top of their head, not by taking hours to get back to you with the information.

 

What will a buyer’s agent do for me?

• A buyer’s broker can show you homes that are on the market, and the best ones may even know of ones that aren’t even on the market - yet.
• A buyer’s broker can help you write your offer to put your best foot forward and beat other buyer’s offers on the best properties.
• A buyer’s broker will provide market data to help you establish an offering price based on price per square foot, local conditions, and seller mentality.
• A buyer’s broker will negotiate on your behalf, honestly and ethically.
• Much happens between writing an offer and closing, a buyer’s broker will attend to the details in a timely manner.  We have put together a paperwork package that shows what we do to get a deal from accepted offer to successful closing, and it was over 200 pages of forms, documents, disclosures, etc.  This should be done for you, within set deadlines and without you having to worry about it!  

 

 

This will give you a guideline for a successful interview to choose your next agent.  

 

Condos at Lake of the Ozarks

Condos at Lake of the Ozarks did very well in 2007, posting very respectable gains in appreciation of 9.5%, bringing the 5 year average to 9.8%.  Think about that, Lake of the Ozarks condominiums have gone up in price, on average, 9.8% per year over the last 5 years.  A $100,000 condo bought 5 years ago would now be worth $159,592 (on average), not to shabby!  That same owner also had a tax write-off on property taxes, interest paid on the mortgage, and also had the chance to enjoy and use the condo for recreation during that period.  What are your stocks/mutual funds doing right now?

In the above example, even if you sold the unit, paid a commission and closing costs, and paid the capital gains, you are still in great shape.  Cost of sale is 7%, the capital gain is taxed at 15%, and that is on the basis not on the whole $159,000.  The real advantage is that you only had to put 5, 10, or 20% down on the unit, so the power of leverage just gave you a great boost.

When you hear talk that the Lake of the Ozarks condo market is down, take a look at the real numbers and realize that smart money is making more money that ever at the Lake, that’s why lenders are lining up to fund 40 and 50 million project right now as we speak.  Call John Garrett if you need to discuss this situation any further at 888-322-1802 and remember to ask for John.

John Garrett Krantz and Associates RE/MAX Lake of the Ozarks

John Garrett is the Broker Manager of RE/MAX Lake of the Ozarks, one of the nation’s most dynamic real estate companies. Since becoming the Mananging Broker of RE/MAX, John has been awarded Broker/Manager of the Year for the State of Missouri, and RE/MAX Lake of the Ozarks was named the top real estate company in all of RE/MAX for the category of small market.

You can call John at 573-302-2320 or e-mail jgarrett@remax.net

Lake of the Ozarks Condo days on market

Days on market for condos has been going up this year, and right now there are 1570 condos for sale. 

The number of condos that have sold for 100% of asking price has decreased as well.  This is a great time to buy a new construction condo, the developers are dealing. 

The average price numbers look good for the market.    Call John with any questions or comments 573-302-2320. 

Lake of the Ozarks Condominiums

Wow, summer sales were as hot as the weather! 

Combined, there was a very nice increase in the number of units sold from 173 to 182.  Not a huge gain, but a gain.  Given the tighter money, the paranoia, bad press and fear being put out to buyers,  this is really a nice surprise. 

Even more impressive is the dollar volume sold.  

So even larger gains were made in volume sold from $31,534,000 in 2006 to $35,845,000 in 2007. 

RE/MAX Lake of the Ozarks

Commissions paid out to RE/MAX Lake of the Ozarks agents in August saw an increase of 40% over the same month last year, bringing the amount of commission paid year to date to the exact level they were in 2006 (within one tenth of a point), a recording setting year for sales!  Dollar volume through the month of August shows that RE/MAX Lake of the Ozarks has already closed over 215 million in sales, and had over 855 closing sides! 

The idea that the market is slow is dead wrong, and after a super hot August, the fall buying season looks like it will be very busy indeed.  Now is a great time to sell, and if you are considering selling, call the experts at 573-302-2320. 

Lake of the Ozarks Condo

Should I use No Down Payment to Buy?

This option has changed from a tool of low income buyers that simply lacked any cash to put down on a purchase to a very smart investment vehicle for the disciplined investor.  One of the main factors involved in this is the likelihood that you will not own your condominium for a very long term, as most Lake of the Ozark Condos “turn over” every 3.5 years on average (this is my estimation).   

The main idea at work here is that you will be able to take the money saved and will consistently invest it instead in things such as stocks or mutual funds or something similar. You can do this by taking the money you would have otherwise used as down payment and invest those same funds somewhere else, provided you put your money to work, and don’t spend it frivolously. I agree with the concept, and these concepts should most definitely be explored.  Right now, there is a serious backlash against no money down and interest only options, and for good reason.   Many loan officers put people that never should have been in these plans into their primary homes and used the lower payments to qualify buyers for more than they could afford. 

What I am suggesting is that you consider all options when looking at purchasing a Lake of the Ozarks Condominium.  Using your mortgage as a financial planning tool is a good thing, but is not for everybody by any stretch.  I’ll be glad to help you with any questions you have about your condominium purchase at the Lake of the Ozarks.    

Buy a Lake of the Ozarks Condominium

This is the first time in many years that the average ask to sell ratio for condos has falled under 100%.  While resale units are in the 95% to 98%, new construction has always kept this number over 100%, because the asking price of a new unit often does not include boat docks, upgrades, allowances, etc.  This number dipped below 100% for the first time in late June, and this means that now really is the best time to buy a Lake Condo, and now more than ever you need a great agent that can advise you on how not to leave money on the table when purchasing Call John Garrett today at 573-302-2320 for more market information. 

Lake Fire and Rescue Shootout

It’s time!  The old Shooter’s Shootout has become the Lake Fire and Rescue Shootout and is this weekend at the Lake of the Ozarks.  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! 

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