Foreclosures

Not many foreclosures at this time.

That may seem like a lot, and yes I’d prefer the number to be at about 600 but 802 active condo listings is way down from 2006 highs when we saw over 1600 active listings.   448 condos sold at the Lake in 2010, that number is actually higher than the 440 that sold in 2009.  We are seeing signs of a market that is stabilizing, and as of today there are only 12 foreclosure condo listings in our MLS.

These are all positive signs of what will be a slow, bump-along recovery of this real estate market.   If you are looking for the right time to buy, the record low interest rates and a stabilizing market should look appealing right now.  John Garrett can help you and take some of the questions and confusion out of the condo buying experience.  Call today at 573-480-6420.

Let’s hope #2 is proven to be true this year at the Lake of the Ozarks!

Daily Real Estate News  | December 10, 2010  | Share 5 Predictions for 2011
Freddie Mac analysts point to five features that they believe will likely characterize the 2011 housing and mortgage markets:

1. Low mortgage rates. With Fed observers expecting the central bank to keep the federal funds rate at its current target range of 0 percent to 0.25 percent for most (or all) of 2011, relatively low mortgage rates will be a feature of the 2011 mortgage market. Thirty-year fixed-rate loans are likely to remain below 5 percent throughout the year, and initial rates of 5/1 hybrid adjustable-rate mortgages will likely remain below 4 percent in 2011.

2. Prices have hit bottom. House prices are likely to begin a gradual, but sustained recovery in the second half of 2011.

3. Housing will remain affordable. With affordability high, many first-time buyers will be attracted to the housing market in the New Year, likely translating into more home sales in 2011 than in 2010.

4. Refinances will dwindle. Many eligible borrowers have already refinanced and the federal Making Home Affordable refinance program is expiring on June 30. While fixed-rate loans are likely to remain low, they will move up gradually, making it even less likely that refinances will be attractive to most home owners.

5. Delinquency rates will decline. Based on the last several business cycles, the share of loans that are 90 or more days delinquent or in foreclosure proceedings — known as the “seriously delinquent rate” — generally crests within a year of the start of the recovery in payroll employment, and this economic recovery appears to fit within that pattern. Payrolls began to rise last January, and by the spring the seriously delinquent rate had begun to fall.

Source: Freddie Mac (12/09/2010)

Lake of the Ozarks Condominiums sales increased yet again in dollar volume sold and in number of sales.   February dollar volume was 4.329 million in 2010, during the same period in 2009 sales were 4.086 million.

The average condo sold at the Lake of the Ozarks was $180,412.

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

John Garrett has joined Prudential Lake Ozark Realty and is ready to meet his Lake of the Ozark real estate clients needs in 2011.  John can be reached at 573-480-6420

Search Foreclosure Condos

Lake of the Ozarks Mobile Home Park for sale.  Eagle Mobile Home Park  just a minute or two from Bagnell Dam is for sale.  This price has been greatly reduced for a quick sale.  The seller is in no financial hardship, and in fact they were able to just refinance this property, showing what great fundamentals are here in place.    Try refi-ing a commercial property right now, bank will only lend their money to the best of the best properties, such as this one.

You can search for Foreclosures quickly and easily.  Residential, Condo, Lots and Land.   Select the property type you are searching and check the foreclosure box  and it will bring up foreclosure properties.   SEARCH HERE

Call John Garrett 573-480-6420 with any property questions.

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

Lake of the Ozarks waterfront home sales increased 48% in dollar volume sold!  That is first quarter of 2010 versus first quarter 2009.  The amazing part is that it was done with only one more sale.  The average price per square foot increased from 143 psf to 150 psf.  The average sale price was 46% higher in 2010.  All good news, especially given the unseasonably bad weather during the 1st quarter.   

If you are a ready, willing and able buyer waiting for the “bottom’ of this market, you have likely already missed it.   Don’t wait any longer, this market is seeing a recovery and the lack of new construction during the last 3 years will start to drive up prices at an accelerated pace when the demand comes back.  Call John Garrett at Lake Real Estate Pros today to get started.  573-480-6420.

This Mobile Home Park at the Lake of the Ozarks boasts great income and a location and reputation that makes it easy to keep full.  The property sits on 20 acres, and is surrounded by trees.   Just a few miles from Bagnell Dam in Lake Ozark, this is close to area employment and future growth.  Call John Garrett Lake Real Estate Pros for more information at 573-480-6420.

EAGLE MOBILE PARK