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