Who’s Representing You?
Missouri law allows real estate licensees to work for the interest of one or both of the parties to the transaction. The law also allows the licensee to work in a neutral position. The general public, and even many licensees, believe that if you are working with a licensed real estate agent, they are working on your behalf. However, Missouri law requires that you must enter into a written agreement if you want representation.
At the onset of communication, a licensee must make you aware of the choices available to you in terms of representation. Without a written agreement stating the type of relationship you have with an agent, that agent is working in a neutral position, not as an advocate for you or, if they are the listing agent on a property you have interest in, most likely they are working for the seller. In a neutral, or Transaction Brokerage, position the agent still has a duty to be honest and fair with all parties and cannot disclose any of your confidential information. If you’d like a copy of the types of representation that are available call or email me.
Be sure you understand from the start, who the agent you are dealing with is working for. Ask for recommendations from friends and coworkers. Ask the agent for previous clients you can contact for insight into their real estate experience. Many buyers are concerned about entering into an exclusive agreement with an agent in case a “deal” comes along that they could “save” on commissions. I have assisted numerous sellers over the years who are struggling to re-sell that “deal” they cut for themselves. Consider enlisting an experienced, knowledgeable, reputable agent to work on your behalf. A great agent can save you time, money and a great deal of headaches down the road.
Now for an update on the current lake market. A year ago, I wrote that I was seeing an upward trend in the number of homes sold, the total sales volume and an increase in the upper range of sales prices. I was cautiously optimistic that the lake home market was starting toward a slow but positive recovery.
As you’ll see in the chart below, our market has continued a steady growth.
This chart lays out the number of homes sold, average sales price, and average days on the market based on data from our Bagnell Dam Association of REALTORS Multiple Listing System comparing the time frames of January 1 thru April 15 of each year from 2003 to the 2012.
Chart here please
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Monday, April 23, 2012
April Lake of the Ozarks Real Estate Report
The latest lake home sales figures show an increase once again. This rate is above year ago levels by 26.7 percent. Condo sales have also shown a large increase in 2012 vs. 2011 with a 22.8 percent growth in units sold. Average days on the market for lake homes has dropped from 214 to 168 however, condo market times have seen an increase of 23 days over the same time last year.
Lawrence Yun, NAR chief economist, said underlying factors are much better compared to one year ago. "The market is trending up unevenly, with record high consumer buying power and sustained job gains giving buyers the confidence they need to get into the market," he said. "Although relatively unusual, there will be rising demand for both rental space and homeownership this year. The great suppression in household formation during the past four years was unsustainable, and a pent-up demand could burst forth from the improving economy."
Regionally, the results were mixed. Declines were seen in both the Northeast and West. The Northeast dropped 3.3 percent in February, with median prices declining 1.9 percent from a year ago.
The West posted a 3.2 percent monthly decline, but is up 6.1 percent of February 2011 as well as up 3.1 percent in median prices.
The Midwest and South were both up, rising 1.0 and 0.6 percent respectively. The median price in the Midwest was down half a percent to $120,000, the lowest median price in the nation.
Decreasing inventory, combined with virtually no new residential construction during the past three years, assure that rents will continue to rise as well as likely home price increases in 2012. I also feel the decrease will drive lot sale which have been almost non-existent the past few years.
So, back to the same song, second verse: you’re not going to find a better time to purchase at Lake of the Ozarks. If you are considering selling, prices are holding steady. If you’re looking to sell and purchase another property, any value loss in your existing home will be offset in the lowered value of the purchased home.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Lawrence Yun, NAR chief economist, said underlying factors are much better compared to one year ago. "The market is trending up unevenly, with record high consumer buying power and sustained job gains giving buyers the confidence they need to get into the market," he said. "Although relatively unusual, there will be rising demand for both rental space and homeownership this year. The great suppression in household formation during the past four years was unsustainable, and a pent-up demand could burst forth from the improving economy."
Regionally, the results were mixed. Declines were seen in both the Northeast and West. The Northeast dropped 3.3 percent in February, with median prices declining 1.9 percent from a year ago.
The West posted a 3.2 percent monthly decline, but is up 6.1 percent of February 2011 as well as up 3.1 percent in median prices.
The Midwest and South were both up, rising 1.0 and 0.6 percent respectively. The median price in the Midwest was down half a percent to $120,000, the lowest median price in the nation.
Decreasing inventory, combined with virtually no new residential construction during the past three years, assure that rents will continue to rise as well as likely home price increases in 2012. I also feel the decrease will drive lot sale which have been almost non-existent the past few years.
So, back to the same song, second verse: you’re not going to find a better time to purchase at Lake of the Ozarks. If you are considering selling, prices are holding steady. If you’re looking to sell and purchase another property, any value loss in your existing home will be offset in the lowered value of the purchased home.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
March Lake of the Ozarks Real Estate Report
As the market stabilizes some buyers are defeating themselves and reducing the value they could gain from buying at the bottom of the market, in terms of both home prices and interest rates. Here are just a few ways buyers are setting themselves up for failure.
Looking too long and at too many homes. It is not unusual to hear buyers today say they've been searching for a year, 18 months, even two or three years. Often these buyers have made low offers on multiple properties and have lost out on several “deals”. When you take that long, you become susceptible to overpaying out of sheer exhaustion. It can also cause you to settle for a home that doesn’t meet your needs. To avoid this problem understand and be clear on the differences between what you want and what you need, and work with a local real estate professional you trust. Look to your agent to help keep your expectations based in reality so you can make better decisions about your purchase. Look at homes in a price range where you're likely to find something that will work for you and will allow you to be successful in your efforts to obtain one.
Delaying making a decision because they think prices may get even lower or a better deal will come along. The lake home market has stabilized and I predict a small increase in values over the course of 2012. Inventory is being reduced and days on the market are almost a month and a half shorter than last year.
Making offers way too low. Overbidding seems like an obvious way to cancel out the bargain potential of your deal but making excessively low offers that sellers couldn't afford to take if they wanted to can have the very same result. Buyers who think they can operate strictly on the basis of what the news keeps reporting as a buyer's market are shooting themselves in the foot. If you don't actually secure the home, the bargain basement price you offered is no deal at all. Even if you are willing to come up in price, you’ve probably insulted the seller which will make negotiations more difficult when you make a better offer.
Stressing out. There is so much information available now that it can be overwhelming for a buyer to know how to move forward. Some buyers try to apply national headlines about home prices being depressed to the superlocal dynamics of the Lake of the Ozarks market. Many deny that basic truths apply to them. For example buying a short sale listing can result in a great deal for you however every step in the process is a long drawn out affair, know going in that you will have to have patience and remain calm. Stress over buying a home often leads to panic-based and fear-based decisions, which can be costly in the short and long term.
Manage your expectations by working with a trusted broker or agent you feel comfortable having advise you about the lake area market. Make sure they are knowledgeable about the location where you want to purchase and that they have the negotiation skills to secure the best deal possible on the home that fits your wants and needs.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Looking too long and at too many homes. It is not unusual to hear buyers today say they've been searching for a year, 18 months, even two or three years. Often these buyers have made low offers on multiple properties and have lost out on several “deals”. When you take that long, you become susceptible to overpaying out of sheer exhaustion. It can also cause you to settle for a home that doesn’t meet your needs. To avoid this problem understand and be clear on the differences between what you want and what you need, and work with a local real estate professional you trust. Look to your agent to help keep your expectations based in reality so you can make better decisions about your purchase. Look at homes in a price range where you're likely to find something that will work for you and will allow you to be successful in your efforts to obtain one.
Delaying making a decision because they think prices may get even lower or a better deal will come along. The lake home market has stabilized and I predict a small increase in values over the course of 2012. Inventory is being reduced and days on the market are almost a month and a half shorter than last year.
Making offers way too low. Overbidding seems like an obvious way to cancel out the bargain potential of your deal but making excessively low offers that sellers couldn't afford to take if they wanted to can have the very same result. Buyers who think they can operate strictly on the basis of what the news keeps reporting as a buyer's market are shooting themselves in the foot. If you don't actually secure the home, the bargain basement price you offered is no deal at all. Even if you are willing to come up in price, you’ve probably insulted the seller which will make negotiations more difficult when you make a better offer.
Stressing out. There is so much information available now that it can be overwhelming for a buyer to know how to move forward. Some buyers try to apply national headlines about home prices being depressed to the superlocal dynamics of the Lake of the Ozarks market. Many deny that basic truths apply to them. For example buying a short sale listing can result in a great deal for you however every step in the process is a long drawn out affair, know going in that you will have to have patience and remain calm. Stress over buying a home often leads to panic-based and fear-based decisions, which can be costly in the short and long term.
Manage your expectations by working with a trusted broker or agent you feel comfortable having advise you about the lake area market. Make sure they are knowledgeable about the location where you want to purchase and that they have the negotiation skills to secure the best deal possible on the home that fits your wants and needs.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Monday, January 9, 2012
January 2012 Real Estate Update
The lake area home market continues it’s slow, steady progress. The number of homes sales are up slightly with 50 more units sold from January 1 to December 20, 2011 over the same time frame in 2010 according to data from the Bagnell Dam Association of Realtors Multiple Listing System. Average sales price remains unchanged, a positive sign that the downward spiral has come to an end.
Nationwide existing-home sales rose again in November and remain above a year ago, according to the National Association of Realtors®. The latest monthly data shows total existing home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 4.0 percent in November over October, and are 12.2 percent above November 2010.
With more people taking advantage of the buyer’s market sales reached the highest mark in 10 months and are 34 percent above the cyclical low point in mid-2010 – a genuine sustained sales recovery appears to be developing. We are seeing healthy gains in contract activity, so it looks like more people are realizing the great opportunity that exists in today’s market.
Houses haven’t been this affordable since appliances came in harvest gold or avocado green. The benchmark of affordability—the ratio of median home price to median family income—has fallen to 2.6, below the historical ratio of 2.9. Another measure, the percentage of monthly family income consumed by a mortgage payment (principal and interest, using a mortgage rate of 4.1 percent), is 12 percent nationally, the lowest since 1971.
I feel the lake area prices will continue to hold steady through 2012 with some increases in certain property types then I expect a small increase to begin in 2013 assuming things are left to work themselves out and there are no further shocks to the economy.
Buyers who invest now or in the first few months of 2012 will be able to take full advantage of the bottom of the market. With both property prices and interest rates at historical lows, buyers will reap the benefits of this affordability as well as buying on the cusp of an increase in values.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Nationwide existing-home sales rose again in November and remain above a year ago, according to the National Association of Realtors®. The latest monthly data shows total existing home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 4.0 percent in November over October, and are 12.2 percent above November 2010.
With more people taking advantage of the buyer’s market sales reached the highest mark in 10 months and are 34 percent above the cyclical low point in mid-2010 – a genuine sustained sales recovery appears to be developing. We are seeing healthy gains in contract activity, so it looks like more people are realizing the great opportunity that exists in today’s market.
Houses haven’t been this affordable since appliances came in harvest gold or avocado green. The benchmark of affordability—the ratio of median home price to median family income—has fallen to 2.6, below the historical ratio of 2.9. Another measure, the percentage of monthly family income consumed by a mortgage payment (principal and interest, using a mortgage rate of 4.1 percent), is 12 percent nationally, the lowest since 1971.
I feel the lake area prices will continue to hold steady through 2012 with some increases in certain property types then I expect a small increase to begin in 2013 assuming things are left to work themselves out and there are no further shocks to the economy.
Buyers who invest now or in the first few months of 2012 will be able to take full advantage of the bottom of the market. With both property prices and interest rates at historical lows, buyers will reap the benefits of this affordability as well as buying on the cusp of an increase in values.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
December Real Estate Update
Further indicators of a (slowly) improving real estate market with some backsliding in the past 30 days: The sale of lakefront homes rose again in a year over year comparison with the highest number of home sales since 2007, an increase of 8.6% over 2010. The average sales price is following along at a slower pace but is up 1.6% over last year. Both of these increases are down slightly from the year over year comparison 30 days ago. I feel this is characteristic of the lake market this time of year. Sales data is from the Bagnell Dam Association of Realtors MLS from January 1, 2002 to November 20, 2011.
The national delinquency rate for residential home loans fell to 7.99 percent in the third quarter—the lowest reading since the fourth quarter of 2008. The Mortgage Bankers Association reported recently that the 30-day delinquency rate reached its lowest level since the second quarter of 2007 at 3.19 percent.
Recently, BuildFax reported its BuildFax Remodeling Index for September 2011, which shows that remodeling activity reached a record high during the month. The latest BFRI showed that September 2011 became the month with the highest level of remodeling activity since the Index was introduced in 2004 and represented the 23rd consecutive month of increases. BuildFax also released data stating the most popular types of remodeling projects over the past five years.
1. Roof (21.4%)
2. Deck (7.9%)
3. Bathroom (6.9%)
4. Garage (6.1%)
5. Kitchen (4.8%)
6. Basement (2.9%)
7. Office (1.7%)
8. Sunroom (0.7%)
Mortgage rates continue to be near record lows, and as homeowners refinance, they are continuing to update their current home and invest in their properties. Homeowners are not only doing important maintenance projects, such as fixing their roof, but also taking on projects that add to the livability of their homes by adding decks, remodeling their bathrooms and updating their kitchens. These are immediate fixes they will enjoy and that potential buyers look for.
Karen and I would like to extend wishes to you for a wonderful holiday season. Our hope for everyone is food on the table, a roof over your head and loving friends and family to enjoy.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
The national delinquency rate for residential home loans fell to 7.99 percent in the third quarter—the lowest reading since the fourth quarter of 2008. The Mortgage Bankers Association reported recently that the 30-day delinquency rate reached its lowest level since the second quarter of 2007 at 3.19 percent.
Recently, BuildFax reported its BuildFax Remodeling Index for September 2011, which shows that remodeling activity reached a record high during the month. The latest BFRI showed that September 2011 became the month with the highest level of remodeling activity since the Index was introduced in 2004 and represented the 23rd consecutive month of increases. BuildFax also released data stating the most popular types of remodeling projects over the past five years.
1. Roof (21.4%)
2. Deck (7.9%)
3. Bathroom (6.9%)
4. Garage (6.1%)
5. Kitchen (4.8%)
6. Basement (2.9%)
7. Office (1.7%)
8. Sunroom (0.7%)
Mortgage rates continue to be near record lows, and as homeowners refinance, they are continuing to update their current home and invest in their properties. Homeowners are not only doing important maintenance projects, such as fixing their roof, but also taking on projects that add to the livability of their homes by adding decks, remodeling their bathrooms and updating their kitchens. These are immediate fixes they will enjoy and that potential buyers look for.
Karen and I would like to extend wishes to you for a wonderful holiday season. Our hope for everyone is food on the table, a roof over your head and loving friends and family to enjoy.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Tuesday, November 1, 2011
November Lake of the Ozarks Real Estate News Update
News continues to be promising in the Lake of the Ozarks real estate market. Sales of lakefront homes are up again over last year with 8.8% more homes sold in 2011 vs. 2010, both up from 2009 numbers. The average lake home sales price is up 12% and sales of condos continue to hold steady both in units sold and value. Existing home sales in the Midwest have experienced large increases over the other regions in the country.
The luxury home market saw an increase of 45.4% in 2011 over 2010 and the luxury home inventory is down to levels we saw four to five years ago. This should help owners of luxury building lots since that market has been flat for several years due in large part to the decrease of values in the luxury home market. Some values fell as much as 30%, making buying an existing home much more affordable with the market offering a large inventory of options. According to information from Camden County planning and zoning just 17 new home permits were issued through August of this year.
Home foreclosures in 2011 are even with last year; the majority of these foreclosures are offwater homes. There are 14% less Lakefront home foreclosures vs. offwater homes. All home foreclosures in the area are 7% below the national average.
With the volatile real estate environment we’ve experienced here at the lake along with the rest of the country, it is important that you understand property values. I’d like to stress the importance of seeking out a professional who has the experience and knowledge to guide you through the potential pitfalls of buying or selling in today’s market and protect your investment. They should be familiar with properties that have sold as well as ones currently on the market. A skilled Realtor can also assist you on how to best position yourself in the negotiation process, help buyers through today’s more stringent finance process and guide all parties through escrow to a successful closing. They can also help you to stay calm and neutral through what is for many a very personal and sometimes emotional situation.
Sales data is from the Bagnell Dam Association of Realtors MLS from January 1, 2010 to October 15, 2011.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
The luxury home market saw an increase of 45.4% in 2011 over 2010 and the luxury home inventory is down to levels we saw four to five years ago. This should help owners of luxury building lots since that market has been flat for several years due in large part to the decrease of values in the luxury home market. Some values fell as much as 30%, making buying an existing home much more affordable with the market offering a large inventory of options. According to information from Camden County planning and zoning just 17 new home permits were issued through August of this year.
Home foreclosures in 2011 are even with last year; the majority of these foreclosures are offwater homes. There are 14% less Lakefront home foreclosures vs. offwater homes. All home foreclosures in the area are 7% below the national average.
With the volatile real estate environment we’ve experienced here at the lake along with the rest of the country, it is important that you understand property values. I’d like to stress the importance of seeking out a professional who has the experience and knowledge to guide you through the potential pitfalls of buying or selling in today’s market and protect your investment. They should be familiar with properties that have sold as well as ones currently on the market. A skilled Realtor can also assist you on how to best position yourself in the negotiation process, help buyers through today’s more stringent finance process and guide all parties through escrow to a successful closing. They can also help you to stay calm and neutral through what is for many a very personal and sometimes emotional situation.
Sales data is from the Bagnell Dam Association of Realtors MLS from January 1, 2010 to October 15, 2011.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Thursday, September 29, 2011
October Real Estate Update
Following is a copy of the October article for the Lake of the Ozarks Business Journal monthly real estate column. You can view the Business Journal online at www.LakeBusJournal.com
I’ve created a Visual Tour showing much of the commercial construction activity and roads here at the lake. www.visualtour.com/show.asp?T=2602143
Last Man Standing
In the fall of 2007 when I saw where the market was headed and knew the effect this would have on those of us in the real estate industry, my remark was “last one out, turn off the lights”. My wife, Karen, always joked that it would be a “last man standing” situation.
As I am writing this in mid-September, my sales are up 42.7% over all of last year. With the four contracts I have set to close by the end of September, my first three quarter sales will have eclipsed the entire 12 months of 2010. My comrades here in the business at the lake are seeing relief as well.
It has been a long and arduous four years. Huge numbers have left their real estate careers behind both locally and across the country. To those who by luck, knowledge, experience and just sheer brute force were able to stay in the game, I say congratulations. The last men (and women) are now standing and I’m grateful to be among the best (and seasoned) real estate professionals you can find anywhere.
Lake home sales continue in an upward trend. I am seeing a huge increase in luxury home sales. These buyers are generally professional businesspeople paying cash. This shows a real boost in confidence in both lake area real estate values and its economy. I am hearing similar reports from builders and agents in the St. Louis and Kansas City areas. With most of our 2nd homeowners coming from those two areas, good news for them is always good news for the lake.
Lots sales have continued to be almost non-existent. With the supply of homes ready to buy, people simply aren’t looking to build. As this supply is reduced and values begin to stabilize, we will see a return to new home starts. Condo sales are still holding steady.
Again, all of the commercial activity creates excitement and spurs confidence. We’ve created a virtual tour of some of the commercial happenings here at Lake of the Ozarks. For a link, email me at cme@YourLake.com and request the lake tour or visit my website www.YourLake.com and choose Lake of the Ozarks Commercial Activity Tour on the Welcome (home) page.
Karen and I would like to say thanks to our fellow agents for being so great to work with. During the past two years we have concentrated on stabilizing then growing our business. We have seen continual increase in our sales and the past 60 days we have had a large jump in activity. If you are considering making a move from your current company, please give us a call. We have the systems and marketing in place to help you grow your business. No matter what level you are at in terms of experience and success, we have the capabilities to assist you in reaching the next level through training, mentoring and not only sharing leads that we generate but teaching you how to generate your own leads and be more independent in producing income.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
I’ve created a Visual Tour showing much of the commercial construction activity and roads here at the lake. www.visualtour.com/show.asp?T=2602143
Last Man Standing
In the fall of 2007 when I saw where the market was headed and knew the effect this would have on those of us in the real estate industry, my remark was “last one out, turn off the lights”. My wife, Karen, always joked that it would be a “last man standing” situation.
As I am writing this in mid-September, my sales are up 42.7% over all of last year. With the four contracts I have set to close by the end of September, my first three quarter sales will have eclipsed the entire 12 months of 2010. My comrades here in the business at the lake are seeing relief as well.
It has been a long and arduous four years. Huge numbers have left their real estate careers behind both locally and across the country. To those who by luck, knowledge, experience and just sheer brute force were able to stay in the game, I say congratulations. The last men (and women) are now standing and I’m grateful to be among the best (and seasoned) real estate professionals you can find anywhere.
Lake home sales continue in an upward trend. I am seeing a huge increase in luxury home sales. These buyers are generally professional businesspeople paying cash. This shows a real boost in confidence in both lake area real estate values and its economy. I am hearing similar reports from builders and agents in the St. Louis and Kansas City areas. With most of our 2nd homeowners coming from those two areas, good news for them is always good news for the lake.
Lots sales have continued to be almost non-existent. With the supply of homes ready to buy, people simply aren’t looking to build. As this supply is reduced and values begin to stabilize, we will see a return to new home starts. Condo sales are still holding steady.
Again, all of the commercial activity creates excitement and spurs confidence. We’ve created a virtual tour of some of the commercial happenings here at Lake of the Ozarks. For a link, email me at cme@YourLake.com and request the lake tour or visit my website www.YourLake.com and choose Lake of the Ozarks Commercial Activity Tour on the Welcome (home) page.
Karen and I would like to say thanks to our fellow agents for being so great to work with. During the past two years we have concentrated on stabilizing then growing our business. We have seen continual increase in our sales and the past 60 days we have had a large jump in activity. If you are considering making a move from your current company, please give us a call. We have the systems and marketing in place to help you grow your business. No matter what level you are at in terms of experience and success, we have the capabilities to assist you in reaching the next level through training, mentoring and not only sharing leads that we generate but teaching you how to generate your own leads and be more independent in producing income.
If you would like a detailed sales report on your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 866.Your.Lake or cme@yourlake.com View thousands of lake area listings at www.YourLake.com. You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
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