Prices and mortgage rates continue to be at historic lows!
It's a buyers market at Lake of the Ozarks!
Summer may be over according to the Calendar, but the weather remains fantastic! Many locals will tell you that the season never ends at the Lake, only the weather changes. There are events going on every weekend throughout the year, and nothing really slows down. This is a great time to contact the Fran Campbell team and find that gorgeous luxury home at the Lake of the Ozarks before the holidays!
Top 10 Tips to Successful Home Buying at the Lake of the Ozarks
Buying a home is probably the biggest investment you will make, with long-term financial ramifications. It calls for many informed decisions and for good advice from a real estate professional. When buying a home, you can learn from the knowledge and skill of a real estate agent at the Lake of the Ozarks.
Tip #1: Research Is The Key To Discovery
Home sellers won't call you with an offer to buy a maintenance-free home with a wonderful mortgage. You have to find the gems yourself! Only by reading available materials, talking to friends and experts, and spending time looking at different homes, schools, and neighborhoods will you end up with your American dream. Avoid the nightmares by learning how best to buy and maintain a home.
Tip #2: Make A Plan And Get Pre-Qualified
Every important decision needs to be clearly thought out. Developing a home buying plan can help you focus on the important factors and organize the entire process. You may even want to use a binder with sections on house hunting, home financing, service providers, etc. Loan pre-qualifying helps you determine the home price you can afford and presents you as a genuine prospect to the seller. A lender typically uses the 28% formula (your monthly mortgage can't exceed 28% of your monthly income) in approving your loan. Planning your actions and getting pre-qualified will keep you out of the panic mode and allow you to take advantage of opportunities. A thorough plan will save both time and money!
Tip #3: Value, Value, Value
The days of 10-30% annual appreciation have passed. Homebuyers in the 1970's benefited tremendously from what seemed like ever appreciating home prices. Nowadays, you're looking at slow growth while guarding against the possibilities of falling prices, skyrocketing ARM rates and corporate layoffs that can dramatically affect your home values. The classic rule of buying the worst house in the best neighborhood still applies. If you buy with an eye towards improvement, you can customize the home to fit your needs. The saying, "make money buying a home, not selling one," should keep you focused on the long-term importance of the purchasing price.
Read tips 7-10 here: 10 Tips for Successful Home Buying
Be sure to "Like" our Facebook page, "Follow" us on Twitter, and "Connect" with the Fran Campbell Team on LinkedIn. This week the Fran Campbell team will be talking about the wonderful reasons to buy a house at the Lake of the Ozarks . We will feature some of the best local deals, helpful tips for buying at the lake, and information about activities happening this week.
Enjoy the week and this beautiful weather!!
Don't hesitate to contact the Fran Campbell Team with any questions you have on buying or selling a home at Lake of the Ozarks.
It's a great day at the Lake of the Ozarks!
Fran Campbell Johnson
Fran Campbell Team
RE/MAX Lake of the Ozarks
3525 Osage Beach Parkway
Osage Beach, MO 65065
Best Realtor Lake of the Ozarks
The Fran Campbell Team is dedicated to providing you the best and most recent news about the housing market at Lake of the Ozarks, including resources to help you purchase or sell your home, events going on at the Lake, and other relevant information about the area.