Showing posts from June, 2011

Pending Home Sales Turn Around in May

Washington, DC, June 29, 2011 Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. The data reflects contracts but not closings, which normally occur with a lag time of one or two months. This is the first time since April 2010 that contract activity was above year-ago levels, and the monthly gain was the strongest increase since last November when the index rose 10.6 percent. Lawrence Yun, NAR chief economist, said the improvement bodes well for home prices. “Absorption of inventory is the key to price improvement, and this solid gain in contract signings implies that home values in many localities are or will s

Looking To Relocate Or Vacation At The Beautiful Lake of the Ozarks? Business is going Strong, NOW IS THE TIME!

The economic down turn of recent years has many pundits predicting doom and gloom when it comes to business growth and expansion. This doesn’t seem to be the case in Osage Beach, MO. With tax revenues up over last year and nearly double what they were a decade ago the city seems poised for more good time’s ahead making the purchase of Real Estate in the Lake Area a sound and reliable investment. This seems to be evident as well in the increase of new businesses opening in the area. Visitors and those relocating to the Lake of the Ozarks have quite a few new restaurants to choose from. Several have opened this year, such as Molotoft Cocktails Bar and Grill, The Paint Box Cafe, Sluggers Eatery, the Hideout Bar and Grill, and Biggies. Construction was finished a month or so ago on the new Golden Corral and by looks of the crowded parking lot its doors have opened with much success. Shoppers at the Lake of the Ozark can enjoy several new stores recently opened at the Osage Beach Premium Ou

Summer Sale at the Lake of the Ozarks! Don’t miss this “HOT” opportunity!

If you saw this headline for one of your favorite department stores, you would eagerly look to see what items are on sale and for how long. Then, you would make plans to get to the store during the “sale event” to purchase these products and would feel really good about “being a smart shopper.” The same thing is true for real estate at the Lake of the Ozarks. We just don’t have the sales flyer, or the sales coupons. Right now there are incredibly discounted, beautiful, waterfront properties for sale. Up to 30% off previous pricing! Wow! Who wouldn’t feel good about getting such a bargain on a luxury, lakefront home or lakefront condominium?? I know what you’re thinking: the news media says the world is going to hell in a hand basket. Be afraid, be very afraid. Baloney! There is a saying that, “if it bleeds, it reads.” The news media is just trying to sell copy or air time. Don’t miss this (really) once in a lifetime combination of sale pricing and (artificially maintained) l

Don't shop for a home on price alone!

Right now, listing prices on homes can be particularly confusing. Today's buyer has a one-track mind when it comes to shopping for a lake home at Lake of the Ozarks; price, but it might lead them in the wrong direction. "There are certain expectations now, Buyer’s think, 'In this economy, I should be able to get X home at Y price." There's nothing wrong with a bargain, except that obsessively focusing on price can divert you from other key considerations, like whether a home suits your family’s particular needs. As a Buyer, now more than ever, you need a Realtor working for you. Hire an experienced Buyer’s Agent! Don't enter a home knowing the list price. Instead, ask your buyer’s agent to show you properties within your affordability range. Judge the homes on their respective merits, and then ask your Buyer’s Agent for help determining a reasonable purchase price. I know it’s hard to disregard the list price. But, I would like home shoppers to at least be awa

REALTOR® Magazine-Daily News-Housing Shortage Is Likely Coming, Report Says

REALTOR® Magazine-Daily News-Housing Shortage Is Likely Coming, Report Says Within the next decade, 16 million new housing units will be needed to meet population growth and shifting demands, according to Harvard University’s Joint Center for Housing Studies in its latest annual "State of the Nation's Housing" report. That means household growth, which has dropped drastically in recent years, will need to greatly reverse its trend to meet the forecasted spike in demand. From 2007-2010, household growth averaged about 500,000 per year--less than half the 1.2 million annual pace averaged prior from 2000-2007. To absorb the current rate of foreclosed and distressed homes plaguing most markets, a more normal rate of household formation is critical, according to the report. However, household growth partially has stalled as young adults have delayed home ownership and immigration has slowed. As such, in recent years, builders have drastically cut production of new homes. "