Thursday, May 25, 2017

6 Vital Questions To Ask Your Lender

When buying a home at the Lake of the Ozarks, there are several factors to take into consideration. One of the things is your mortgage. With all of the lending opportunities available, it's easy to become overwhelmed and just go with the first choice without even asking questions about your mortgage payment responsibilities. That's why the Fran Campbell Team has come up with a list of questions that you should be asking your lender before signing off on a mortgage commitment. Take a look:

1. What is the interest rate?

The first thing you should ask your lender for is a direct interest rate quote, as well as the corresponding annual percentage rate for the loan. The interest rate, along with your mortgage balance and loan term will determine your real monthly payment. A loan with a smaller balance or lower interest rate will make for smaller monthly payments. If you're not sure about the interest rate your lender has quoted you, don't hesitate to shop around with other mortgage lenders to try to get a lower rate.

2. What is the monthly mortgage payment?

Buying a new home means starting a new budgeting plan. As you begin budgeting for your new home, it's important to make sure you can afford the monthly mortgage payment. Be sure to include insurance and taxes into your budget, along with other living and leisure expenses. Your monthly mortgage payment shouldn't be so high that your money can't work toward other financial goals.

3. What is the minimum down payment required?

Different lenders will have different down payment requirements. Most mortgages require a 20 percent down payment. But, for example, if you qualify for a FHA loan your down payment required could be as low as 3.5 percent. Keep in mind that typically loans with lower down payments cost more. Often, when putting down less than 20 percent, you're required to pay for mortgage insurance until your loan value falls below a certain amount. Your down payment has an effect on other loan aspects as well, such as your rate, terms and monthly payments.

4. Are there any prepayment penalties?

Some mortgage lenders will put in the loan agreement that if you pay your loan amount off in full before a certain time frame, you're required to pay a penalty fee to them for early repayment. The reason for this is to ensure the lender that they will be getting paid regardless of how long you hold a loan with them. So it's important before signing off on a mortgage to ask your lender in advance if there are any prepayment penalties. Read through your loan documents carefully so that you understand any repercussions you may face for early payoff.

5. What closing costs will I be responsible for?

Closing costs are expenses over and above the price of a property in a real estate transaction. It's a good idea to get closing cost information upfront so you can begin preparing for this expense. Closing costs may include loan-origination fees, discount points, appraisal fees, title searches and insurance, surveys, etc. Ask your lender to estimate your closing costs so you can budget accordingly.

6. Are there any special requirements I need to be aware of?

There are all kinds of guidelines when it comes to applying for a mortgage. Typically, requirements relate to debt to income ratio, employment status, and your credit report. But in some circumstances you may be eligible for special mortgage programs offered by the government. The best way to find out is by speaking to a lender about all of the options that may be available to you.

When asking these questions, your lender can provide you with the information you need to make an informed decision on choosing a mortgage. You'll able to determine whether the mortgage rates that the lender you're speaking with will allow your monthly payments to be within your budget or match your future financial goal needs. For more real estate related guidance, contact the Fran Campbell Team, the best real estate team at the Lake of the Ozarks to help you through the buying process!

Contact the Fran Campbell Team to get your home CLOSED!

Thursday, May 18, 2017

How Professional Photography Can Help Sell Your Home Faster!

When you decide to sell a home at the Lake of the Ozarks, one of things you need to be aware of is that most people are finding their new homes via the internet. It is absolutely essential that your home is easy to find and will draw buyer attention online. That being said, when people do find your home online, the main thing that will catch their eye are the photos of your home. If you have bad photos or no photos, the potential buyer is not going to waste their time visiting your property. That's why the Fran Campbell Team thinks it's a great idea to hire a professional photographer when listing a home for sale at the Lake of the Ozarks - see our reasons why:

Creating a Captivating First Impression

Your photos are your first impression, so why would you show potential buyers bad images of your beautiful property? Professional real estate photographers are trained to capture the right angles, emphasize the important features, utilize the light, and manipulate images in order to showcase your property in a way that draws in potential buyers. Professional photos will increase the number of offers and showings on your property. They will attract new clients and put more money in your pocket.

A Picture Paints a Thousand Words

The biggest reason for hiring a professional photographer rather than taking the pictures yourself is that professionals know how to make something ordinary look spectacular! Photographers understand how to make things look better than they appear. They understand how the sizes and colors of objects impact a photograph. Photographers have spent thousands of hours learning how to take the best possible pictures. They have the expertise and equipment to capture the essence of your property and present it in a way that sets your property apart from the competition.

How Important Is Having Professional Photos?

Still not sold on the importance of professional photos when listing a home for sale at the Lake of the Ozarks? Consider this: you have two seconds to grab the buyer’s attention without a photo, and 20 seconds with a photo. Take a look at these statistics to see how much of an impact professional photos have on the sale of a home. Homes with professional photos get 61% more views and sell 32% faster. They also typically receive 47% higher asking price per square foot, gaining anywhere between $934 and $116,076 more on the market.

A professional photographer sees the world in a different way through a lens, and that amazing talent will make a tremendous difference with potential homebuyers. You cannot sell a house to someone who doesn’t put in an offer, and you will receive more offers with professional photographs. So put your best foot forward and hire a professional to take photographs of your home for you instead of snapping quick and unflattering pictures that buyers will pass up. For more great tips on selling a home at the Lake of the Ozarks, contact the Fran Campbell Team today!

Wednesday, May 10, 2017

Things to Consider When Investing in a Vacation Rental Property

Have you considered investing in a vacation rental property at the Lake of the Ozarks? It's a great idea and a wonderful opportunity for making some extra money to put away for a rainy day or retirement. However, there are some really important things to consider before buying investment property at the Lake of the Ozarks. The Fran Campbell Team has come up with some things that you should consider before making a purchase:

How often will you want to use it yourself?

One thing you need to consider before investing in a vacation rental property at the Lake of the Ozarks is how often you plan to use it for personal use. This will play a big role in how often your property is rented. If you plan to use your vacation rental frequently during the tourist season for the Lake of the Ozarks, you're going to cut down your the opportunity to make money. Plan in advance to use the property during off season months and try to avoid holidays, as those will be the best times to capitalize on your investment.

Consider the location

Believe it or not, even though the Lake is considered to be a rural community, there are still highly sought out subdivisions that draw in vacationers. Before buying, it's important to do research of the area in terms of what vacationers look for. Select a location that can provide a relaxing environment, yet also be close enough to attractions, shopping, and activities so that renters will be more likely to choose your property above competitors. Don't forget to check into the amenities that are available within the subdivision you're interested in. The more perks your investment property at the Lake of the Ozarks has to offer, the more renters you'll procure. Our knowledgeable real estate agents can help pinpoint subdivisions that will be great choices for you.

Do you have time to manage a rental property?

Don't think that you can buy a rental property and just walk away and expect it to make you a profit. Owning an investment property takes work. Successfully turning it into a profitable investment can be more work than you're ready to take on by yourself. You'll need to coordinate arrivals and departures, maintain a schedule to avoid double bookings, handle any maintenance issues that may arise, process payments and book reservations, clean and restage the property between guests, and so much more. It may be beneficial to consider hiring a property management company to handle the details for you. Don't forget to calculate that expense into your cost.

Calculate your return on the investment

Take into consideration the cost of maintaining an investment property. The list of expenses does not end at the closing of the purchase. There are taxes, utilities, and sometimes even association dues that you must consider as well. Don't forget you will need to furnish the property to be turn-key ready, so that will add up too. While the goal is to make money from renting out the property, the expenses could very well outweigh the income you pull in. If you're prepared for this possibility in advance, you'll be happier with your decision to invest.

Does the subdivision have rental restrictions?

Make sure to check into rental restrictions within subdivision bylaws. Many subdivisions do not permit short term rentals. Therefore, it's extremely important to check into this BEFORE buying an investment property with the intent of renting on a nightly or weekly basis. Often times, when you are looking into buying a home or condo at the Lake of the Ozarks, you can request to review the subdivision rules/regulations and declarations/bylaws.

Investing in rental property at the Lake of the Ozarks is a great idea and can be a very lucrative side business. If you've considered these 5 points and still think buying investment property is right for you, contact the best real estate team at the Lake of the Ozarks to get started on your search! We're the experts in knowing all the best locations and highly sought after subdivisions that vacationers love and visit the most. We can help you find the perfect vacation rental investment property at the Lake of the Ozarks and get you on the right track to an exciting business opportunity. Contact the Fran Campbell Team TODAY to get started!

Tuesday, May 2, 2017

Advice for Dealing with Financing BEFORE Buying a Home

One of the most important things to consider when buying a home at the Lake of the Ozarks is the financing aspect. Your home buying process literally depends on this. If you don't have your financial ducks in a row and don't understand the many aspects of financing, you may not be able to buy a home at the Lake of the Ozarks. OR, you may end up paying more than you would have had you proactively educated yourself prior to purchasing. The Fran Campbell Team has some stellar advice on how you can protect yourself and make smart decisions when dealing with financing for purchasing a home at the Lake of the Ozarks - take a look!

Get Pre-Approved
The last thing you want to do is fall in love with a home that you can't afford. That's why it's so important to know what your budget is before you start looking at homes. You can avoid a lot of wasted time and energy by getting pre-approved so you have an idea of what lenders will loan to you. This will help you and your agent pinpoint homes within your budget and get you into your new home more quickly. Don't forget that a pre-qualification is NOT the same thing as a pre-approval. Many lenders will send out pre-qualified letters to entice potential clients. However, a pre-qualification is just a precursory review of your finances. It does not take into consideration much of what lenders actually look for when processing a mortgage application. A pre-approval from a lender is based on your actual income, debt and credit history.

Do Research on Mortgage Lending
Not all mortgages are the same. First of all, you need to check mortgage rates, and gather a few rate quotes. You also need to interview at least a few mortgage lenders to ensure that the mortgage and services they're offering is suitable for you. Ask questions before moving forward. Some mortgage lenders may be delayed in processing due to high volumes of clients they are serving. If this is the case, processing your loan may take longer, so make sure to ask about turnaround time. Another important question to ask is who will be servicing the loan. Many lenders often sell loans to 3rd party investors making it more difficult to get personalized service when you have questions or problems. While a lot of times, this is the reason why they can offer such low rates, you may forego good service experience.

Do Your Homework on the Market
Before making an offer on a home, you need to do some research on recent sale trends on similar homes in the neighborhood. A good time frame to look back on would be about 6 months. For example, if similar homes in the neighborhood have sold recently for 5 percent less than the price the home you're looking at is listed for, you may want to consider offering 8-10 percent less than the listed price. Knowing the market and having knowledge of the neighborhood will help you with negotiating sales price and prevent you from overpaying.

With this helpful advice and the best real estate team at the Lake of the Ozarks to guide you through the home buying process, you'll be on your way to closing on the home of your dreams in no time. While much of this financing stuff can be overwhelming, our team of experts can help to guide you in the right direction for getting the answers you need for your financing questions. While we are not experts in mortgage financing, we ARE experts in looking out for our clients best interest and making sure our clients needs are met. For all of your Lake of the Ozarks real estate needs contact the Fran Campbell Team today - lets get you in your new home!

Thursday, April 27, 2017

Super Simple Tips to Get Your Home SOLD!

One of the biggest decisions a homeowner can make is whether or not to sell a home at the Lake of the Ozarks. Once the choice has been made, it can be extremely frustrating for a homeowner when they have high hopes to see their home sell within the first 30 days, and it's been listed for 90+ days and no offers have been received. The Fran Campbell Team knows how frustrating that can be - and we can guarantee that when you work with our experienced real estate agents at the Lake of the Ozarks, we will work hard to get your home sold as quickly as possible for a price that you agree upon. As proof of our dedication, we've come up with some tips to help you reach your goal of getting your home sold quickly.

Price Your Home Right

Your home may be one of the best staged homes on the market, and may have some of the most desirable attributes that other homes simply can't compare with. But when it comes down to it, money talks. If you've listed your home above market value, buyers will settle for getting less to stick within their budget. It's extremely important to assess the value of your home before marketing so that you're not over or underpricing it. It's also equally important to understand the market and what it can bare for a home like yours. Sometimes listing your home for a little less than what you feel it's worth will get more promising buyers interested and could mean selling your home quicker.

Don't Over-Upgrade

It's always nice for buyers to walk into a newer looking home. It can also be a complete waste of your time and money to do unnecessary upgrades. Don't spend a bunch of time and money remodeling your home for the sale. Instead do things like applying a fresh coat of paint to the walls, replace old door handles or cabinet hardware. Clean the tile grout and carpet throughout your home. Fix leaky faucets and put those closet doors back on track. You'll save a lot of money by focusing on the small items, and eliminate the potential for buyers viewing your home as a fixer-upper.

De-Personalize Your Home

Keep buyers from overlooking your home by depersonalizing it. One of the main reasons buyers may be looking at other homes over yours is because they simply cannot imagine themselves living in your home. Nix this problem by getting rid of your personal items such as family pictures, memorabilia, and personal keepsakes. Store them away and stage your home to best showcase the floor plan and maximize the use of space. By doing this, you'll create a space that buyers can more easily picture living in.

Always be Ready to Show

You need to try to keep your home show ready at all times. While this may seem inconvenient, it's more of a problem if you miss out on an opportunity to sell your home. Sometimes your agent may call you wanting to show your home to a client NOW. That potential buyer may only be in town for one day and has listed your home as their first choice. If your home isn't show ready in that moment and you have to turn away the showing, they've already moved onto the next choice.

Give Off a Great First Impression

We cannot stress this enough - the first impression a buyer will get is home's exterior. Take this opportunity to make a great and lasting first impression by maintaining your lawn regularly. Tackle any eye sores on your home's exterior to avoid potential buyers from passing your home by. Hire a landscaper to create a beautiful and welcoming scene that buyers will want to stop for. Pay special attention to your home's entryway. This is a great opportunity to make your home feel warm and inviting for buyers and to get them to want to stay.

With these helpful tips and the assistance of the most experienced real estate team at the Lake of the Ozarks, you'll be well on your way to getting your home sold quickly. The Fran Campbell Team provides superior service to our clients by demonstrating the highest standard of negotiation, communication, integrity and professionalism. Our pledge is to go above and beyond our client's expectations. Contact the best real estate team at the Lake of the Ozarks to get your home sold!

Tuesday, April 18, 2017

3 Spring Cleaning Tips to Help Your Home Show Better

Spring is here which means now is the best time to start thinking about what you need to do to get your home in tip-top shape. Beautiful weather will bring out the buyers and if you're selling a home at the Lake of the Ozarks, you want your home to be ready for all the showings you're likely to have coming up. The Fran Campbell Team wants to provide you with some helpful tips to make sure your home is show-ready and entices those buyers!

Take Care of These 3 Spring Cleaning Items to Make Your Home Show-Ready:

1. Maintain your Lawn
Lawn maintenance is one of the biggest first impression make or break items homeowners should pay special attention to. Your home's exterior is the first impression that a buyer gets of your home. If your lawn is overgrown and unkempt, that will give the impression that you don't put care into the home and gives the idea that there could be other neglected maintenance issues with your home. Plus, a neglected lawn is not very inviting. Keep your grass cut regularly, trim trees limbs away from your home's roof, power lines and driveways. Prune the bushes in your yard and make sure they are trimmed neatly so as to avoid covering up windows or entry ways.

2. Touch up paint
Don't let your home get passed by because a buyer sees it and immediately thinks of work to make it pretty again. Scuffed trim and door jambs, and dinged up walls are going to scream extra work required to any potential buyer - and if they're not looking for a project home, they're going to mark your home off their list. Take the time to touch up paint throughout the interior AND exterior of your home to give it a fresh crisp facelift.

3. Power wash exterior of home and driveway
Fall and winter tend to be pretty harsh on the exterior of our homes and driveways. To wash away the built up dirt and grime, power wash your home's siding, decks or patios, and driveway. This will give the exterior of your home a fresh look and help to create a good first impression to those buyers who may drive by before scheduling an appointment to view the home. Take it a step further, and hire a power washing company to come out to do this for you, as they can look over the exterior of your home objectively and may see things that you might have missed since you're not sure what to look for.

With these helpful tips to get your home ready for spring time and for those potential buyer showings, you'll be well on your way to selling a home at the Lake of the Ozarks! For more helpful tips and help with anything relating to real estate at the Lake of the Ozarks, subscribe to our blog and check in weekly or give us a call at 573-302-2300. Our expert real estate team at the Lake of the Ozarks will be more than happy to help you with your buying and selling needs!

Wednesday, April 12, 2017

3 Reasons Why You Should Complete a Seller's Disclosure in its Entirety

One thing we see all too often when listing a home for sale at the Lake of the Ozarks is partially completed seller's disclosures coming back to us. While most sellers feel like this part of the paperwork is unnecessary and inconvenient, there are very valid reasons why you should complete the disclosures in their entirety and with full honesty. The Fran Campbell Team is happy to share with you 3 important reasons why you should take the time to complete your seller's disclosure and make sure it's as accurate as possible.


  1. Protects the Seller from future litigation. The most important reason to fill out a seller's disclosure is that is purpose is to hold the seller and real estate agent harmless if you've disclosed the truth about the property. The disclosure can help prevent potential buyers from filing lawsuits against the seller if after the home has been sold a problem arises with the property. It's not a guarantee that there won't be any litigation, but it definitely helps to protect the seller if the buyer is made aware of all known defects up front. 
  2. Helps the Agent listing the home have more accurate information. Much of the information provided on the seller's disclosure can be used by the listing agent to provide accurate information on the listing itself when advertising. For example, on the disclosure the agent will be able to see if the property is on city water or a shared well. If your home uses a shared well, there is likely paperwork that needs to be retrieved for that, and the possibility that there are monthly or annual incurred costs that will need to be disclosed to buyers. These are things that you may not think of initially when listing your home, but by providing a completed disclosure, your agent is able to catch those things for you and make sure that all the necessary documentation is taken care of.  
  3. Provides the Buyer with a fair and honest idea of the home's condition. Don't be afraid of the seller's disclosure. This document discloses material information to the buyer about the home, which can help them make an informed decision about their purchase. It's not meant to be a deal-killer, but a deal-maker. Many agents provide a copy of the disclosure to interested buyers so they can get an idea of the home's condition before they make an offer or have an inspection. 

Now that you know why filling out a seller's disclosure in it entirety and as accurately as possible is so important, you can feel more confident in your home's listing and worry less about potential post-closing issues that could arise. Remember, when in doubt, it's best to provide more information than not enough. If you have questions about completing your seller's disclosure, the best real estate team at the Lake of the Ozarks are your go to agents. We'll be happy to answer any questions you may have and help walk you through the process to ensure your listing is as accurate as possible. For all of your Lake of the Ozarks real estate needs, contact the Fran Campbell Team!