John Garrett, Broker Agent at Prudential Lake Ozark realty sold another Emerald Bay unit.  This awesome 3 bedroom unit was immaculate and had a great view and a boat dock as well.

If you are interested in buying a condo at Emerald Bay, or any of the great condos at the Lake of the Ozarks, give the Condo expert a call.  John Garrett will make sure to represent your best interest every step of the way.  Buying a condo can be tricky IF you use no agent or an agent that really doesn’t understand condominiums.  Call John at 573-480-6420 today. 

Lake of the Ozarks Common Closing Costs for Buyers

When you buy a house at the Lake of the Ozarks, you’ll be glad to know that Missouri is one of the lowest closing costs state in the US. This along with low interest rates and great seller concessions make it an ideal time to buy at the Lake.

You’ll likely be responsible for a variety of fees and expenses that you and the seller will have to pay at the time of closing. Your lender must provide a good-faith estimate of all settlement costs. The title company or other entity conducting the closing will tell you the required amount for:

• Down payment
• Loan origination
• Points, or loan discount fees, which you pay to receive a lower interest rate
• Home inspection
• Appraisal
• Credit report
• Private mortgage insurance premium
• Insurance escrow for homeowner’s insurance, if being paid as part of the mortgage
• Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
• Deed recording
• Title insurance policy premiums
• Land survey
• Notary fees
• Prorations for your share of costs, such as utility bills and property taxes

A Note about Prorations: Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6^th of the month. You would owe the gas company for only the days from the 6^th to the end for the month. The seller would owe for the first five days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.  Call John Garrett Prudential Lake Ozark Realty at 573-480-6420 with any questions. 

If you are serious about buying Lake of the Ozarks real estate, now is the time you have been waiting for.  A perfect storm of low interest rates,  a buyer’s real estate market, and foreclosures to lower prices further have created the right time to buy real estate at the Lake of the Ozarks.   Here’s what you need to do:

• You need a qualified buyer’s agent.
• Get pre-qualified with a lender.
• Register with the best MLS search site at the Lake.
• Decide what area of the Lake is right for you.
• Decide the level of “fixing up” you are willing to do.

Buying real estate at the Lake of the Ozarks is not difficult if you follow a good plan.  By doing the 5 items present above, you will have a huge advantage over typical buyers that are wasting their time chasing print ads that have already been sold and looking at outdated real estate web sites.   I have helped people buy their Lake of the Ozarks home (and Condos) since 1995, I have worked everyday, full-time in this market ever since.   I can say without a doubt that now is the best time to buy real estate at the Lake of the Ozarks. 573-480-6420

Lake of the Ozarks Condominiums sold in 2011, what would you guess?  Sales up or down from last year?  If you said up, you are right.  Sales increased in both # of sales, and dollar volume, while average sale price remained basically unchanged.

2011 produced 135 sales, 2011 produced 157 sales.  The volume increased from $22,782,910 to $26,017,834.   The sales volume was slow for spring, but has really picked up lately.  Let’s hope this indicates a strong 3rd and 4th quarter for condo sales.

Search for foreclosure condos here

Lake of the Ozarks Waterfront Homes sales show a nice gain over the same period last year.  26% is nothing to sneeze at!

June 2011 Waterfront Home Sales
Sale Price Volume $17,833,499
Avg Sale Price $349,676

June 2010 Waterfront Home Sales
Sale Price Volume $13,138,210
Avg Sale Price $285,613

It is a bump along recovery, but positive news is good news anytime you can get it.  Call John Garrett for detailed accurate pricing reports in this market.  Whether a buyer or seller, you can’t afford to use an agent that doesn’t know the market.

Where: Lake of the Ozarks, On land and in the water at Dog Days Bar & Grill, 19MM by water, 1232 Jeffries Road, Osage Beach
Lake of the Ozarks, Missouri 65049

Date: July 16, 2011
Time: 12:00 p.m.- 5:00 p.m.

Contact Name: Teresa Riley
Phone: 573-365-5382
Email: teresa.riley@marinemax.com

Dealership: United States – MarineMax Lake Ozark
Dealership Website: http://www.marinemaxmissouri.com/
Directions to event:

Always a great party!

If searching the Lake of the Ozarks area for foreclosures, you’ll notice in the MLS comments a line that reads “This is a Fannie Mae HomePath property you can purchase for as little as 3% down.”

Sounds great, right? The problem is that it must be your primary residence to qualify for this low down payment option. The good news is you can buy with as little as 10% down, IF you use the right lender.

John Garrett is an expert on getting these kind of deals done. Call him to get started today, having your financing in order makes all the difference, especially in these challenging times. 573-480-6420

Lake of the Ozarks Fannie Mae listings get 3.5% closing closing costs paid for the next quarter!

I had several buyers last year take advantage of this, it really is a great program with no strings attached.

E-mail me for a current list of Fannie Mae properties.  John Garrett 573-480-6420

This is the old listing sheet

This has not been listed in the MLS, if you have any interest we need to get moving on it before it hits the market and gets multiple offers.  Horseshoe Bend location, great deal.  Going on the market at $147,000.  Don’t delay!  573-480-6420

That is higher than the average sale at REMAX Lake of the Ozarks.  For Information on The Villages, Porto Cima, or and other Luxury homes at the Lake of the Ozarks, call the Luxury Experts.

John Garrett, Broker Sales Prudential Lake Ozark Realty. 573-480-6420