tag:blogger.com,1999:blog-28788270644570173132024-03-24T23:09:37.661-07:00As The Lake ChurnsLake of the Ozarks Real Estate Blog, news and general real estate information.C. Michael Elliotthttp://www.blogger.com/profile/07017657776872025687noreply@blogger.comBlogger139125tag:blogger.com,1999:blog-2878827064457017313.post-8727872197379681182021-11-30T12:49:00.004-08:002021-11-30T12:50:06.197-08:00December Lake of the Ozarks Real Estate Update<p style="text-align: center;"> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-JKEa1eppnFc/YaaNt-UobLI/AAAAAAAAARs/0SAE-Hrr-mIhEkv1MK94o1coRJm8AAKjACLcBGAsYHQ/s2884/merry-christmas-transparent-clipart-kid-merry-christmas-clip-art-free-4987_1886.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1091" data-original-width="2884" height="121" src="https://1.bp.blogspot.com/-JKEa1eppnFc/YaaNt-UobLI/AAAAAAAAARs/0SAE-Hrr-mIhEkv1MK94o1coRJm8AAKjACLcBGAsYHQ/s320/merry-christmas-transparent-clipart-kid-merry-christmas-clip-art-free-4987_1886.png" width="320" /></a></div><br /><p style="text-align: left;"></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>You may have heard that all real estate is
local.<span style="mso-spacerun: yes;"> </span>I know I’ve talked beat the drum about
why it’s a good idea to have an experienced, knowledgeable broker to help with
pricing and other items important to making a good buying or selling
decision.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>I
think recent events with Zillow and their home buying adventures present a
cautionary tale based on exactly these points.<span style="mso-spacerun: yes;">
</span>Or, as my wife likes to say, “You can either be a good example or a
horrible warning.”<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Don’t get me wrong, I think Zillow has
done a fantastic job of putting together a real estate search app and follow up
system that was lacking in this industry.<span style="mso-spacerun: yes;">
</span>They truly nailed that and captured the market.<span style="mso-spacerun: yes;"> </span>Whether they got greedy or over ambitious or
a combination of both, their ibuying program showed none of the well thought
out execution of their marketing platform.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Zillow paused it’s ibuying program at the
beginning of November.<span style="mso-spacerun: yes;"> </span>Reports showed
that at the end of the third quarter 9,790 homes in inventory, with another
8,172 homes under contract. <span style="mso-spacerun: yes;"> </span>They stated
they would honor the existing contracts but would not be purchasing any
additional homes.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Until this event, I really thought of the
zestimate as a gimmick to draw people in and a bit of an aggravation to be
honest.<span style="mso-spacerun: yes;"> </span>It was rarely correct, and I
have spent a lot of time digging through Zillow’s data in order to show
homeowners where Zillow had gotten it so wrong.<span style="mso-spacerun: yes;">
</span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>It never occurred to me that this company
believed its own hype and was prepared to purchase homes based on these,
frequently way off, guesstimates.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Three main things went wrong here.<span style="mso-spacerun: yes;"> </span>1.<span style="mso-spacerun: yes;">
</span>They relied on computer generated pricing without having any direct
knowledge of the home or neighborhood.<span style="mso-spacerun: yes;">
</span>2. Often, the sellers drawn to this type of quick sale transaction have
homes with issues.<span style="mso-spacerun: yes;"> </span>These may range from
repairs and updates to unfixable flaws that make them more difficult to sell.<span style="mso-spacerun: yes;"> </span>3.<span style="mso-spacerun: yes;"> </span>They
didn’t have relationships with various local contractors needed to bring the
homes they purchased up to par.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Each of these items could be overcome by a
local real estate professional.<span style="mso-spacerun: yes;"> </span>Think I should
see if Zillow needs a listing broker?<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>C. Michael Elliott and Associates is a
boutique, privately owned office.<span style="mso-spacerun: yes;"> </span>Please
give us a call if you are considering buying or selling, we’ll explain our
services in detail and you can decide if we are a good fit for you.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;">
</span>He is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with Michael in the
sale or purchase of property, or have interest in a career in real estate,
contact him at 573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>or stop by C.
Michael Elliott & Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span></span><o:p></o:p></p><br /><p></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-10757376621102880452021-10-26T10:03:00.007-07:002021-10-26T10:11:40.412-07:00November Lake of the Ozarks Real Estate Update<p style="text-align: center;"> </p><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;"><p style="text-align: center;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-ib_oa3_4-aE/YXg2jo4QaTI/AAAAAAAAARc/Dd7syzqn_3UJENYdEQcKzjg_4Hk4XWL2ACLcBGAsYHQ/s243/thanks%2B2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="207" data-original-width="243" height="171" src="https://1.bp.blogspot.com/-ib_oa3_4-aE/YXg2jo4QaTI/AAAAAAAAARc/Dd7syzqn_3UJENYdEQcKzjg_4Hk4XWL2ACLcBGAsYHQ/w200-h171/thanks%2B2.jpg" width="200" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><p></p></blockquote><p style="text-align: center;"><br /></p><p style="text-align: center;"><span style="color: #cc0000; font-size: large;"><i><u>Third Quarter Update 2021</u></i></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-4Jo6JpZFOtc/YXgz5CrTDzI/AAAAAAAAARU/y59CTPVufywduqfmJtjzPJdxuDTHabCuQCLcBGAsYHQ/s1474/Elliott%2BNovember.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1474" data-original-width="556" height="947" src="https://1.bp.blogspot.com/-4Jo6JpZFOtc/YXgz5CrTDzI/AAAAAAAAARU/y59CTPVufywduqfmJtjzPJdxuDTHabCuQCLcBGAsYHQ/w358-h947/Elliott%2BNovember.jpg" width="358" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><p style="text-align: center;"><br /></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-23911884024713455572021-09-27T11:21:00.003-07:002021-09-27T11:22:39.376-07:00October Lake of the Ozarks Real Estate Update<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-xvzR1hDkV6c/YVIIujPW-RI/AAAAAAAAAQ8/H4bFJ_St1dYhTmol7kACaEhU0vb7G4QfQCLcBGAsYHQ/s319/October%2Bclipart.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="158" data-original-width="319" height="135" src="https://1.bp.blogspot.com/-xvzR1hDkV6c/YVIIujPW-RI/AAAAAAAAAQ8/H4bFJ_St1dYhTmol7kACaEhU0vb7G4QfQCLcBGAsYHQ/w273-h135/October%2Bclipart.png" width="273" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><u><br /></u></div><div class="separator" style="clear: both; text-align: center;"><span style="color: #b45f06; font-size: large;"><u>A Seller's Market</u></span></div><div class="separator" style="clear: both; text-align: center;"><span style="color: #b45f06; font-size: large;"><u><br /></u></span></div><p></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;">The month to month decrease in new listings coming to
the multiple listing service continued in September. Lakefront home listings in September 2021
were 37 percent less than August’s new listings and 43.4 percent less than
September 2020’s homes coming on the market.
Year to date, 2021 lakefront homes listings decreased by 12.8 percent
compared to 2020.<o:p></o:p></span></p><div class="separator" style="clear: both;">
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> Condominium
listings in September ’21 decreased by 45 percent from August and 68 percent
from September of 2020. Although, year
to date condo listings increased by 1.38 percent over 2020.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> Lakefront
home sales by unit closed, year to date as of the end of September, decreased 16.5
percent, 146 less homes than last year. Most of reduction in the number of lakefront
homes closed year to date compared to 2020 comes from August and September
closings.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> The gross sales dollar volume of lakefront
homes shows an increase of 13.66 percent year to date in 2021 compared to 2020
however that is a little over 6 percent less than the increase shown thirty
days ago. The average sales price at the
end of the September is up by 36 percent but down from a year-to-date increase
of 40.29 percent at the end of August.
The average days on the market has decreased another two days from 61 to
59 days. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> Condo sales
year to date are also showing a year to date decrease with the number of units
closed at the end of September 2021 dipping 5.12 percent. The total gross sales dollar volumes
increased 25.5 percent compared to 2020 and the average sales price climbed 32.3
percent. The average days on the market
for condos decreased by 58 percent in 2021.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> Lakefront
lot sales showed the move toward building as buyers were unable to find or win
the bid on a lake home. Year to date
closed units are up 39.3 percent in 2021 over 2020 and the total sales volume
increase 71.2 percent. In September of
2020 the average days on the market for closed lakefront lots was at 313
days. In September of 2021 it was 84
days.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> As I
discussed last month, I think we are seeing the beginning of the next
trend. I feel the existing home seller’s
market needle will edge toward center.
I think it will continue to lean toward the seller’s favor simply due to
the lack of inventory. I see more
serious buying and selling clientele making their move to the forefront. Clients who do not have to buy or sell but
are extremely capable and who will make good solid decisions. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> New
construction will also change the playing field for existing homes and give
buyers more choice. As these new
properties become available, owners of existing homes who have waited until
they can find another home that suits them will finally be ready to put their
home on the market. This will also open
up more inventory over the next year, but it will be the type of inventory that
will sell within days if not hours of hitting the market. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.
He is one of the most respected brokers in the area and operates a
boutique office focused on personal service.
If you would like to work with Michael in the sale or purchase of
property, or have interest in a career in real estate, contact him at
573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%; mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> or stop by C. Michael Elliott &
Associates located at 3738 Osage Beach Parkway.
Data obtained from the Lake of the Ozarks Multiple Listing System for 2021
and 2020.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"> </span></p></div><p><br /></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-74852585922137024942021-08-30T10:57:00.003-07:002021-08-30T11:09:52.943-07:00September Lake of the Ozarks Real Estate Update<p style="text-align: center;"> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-Vs6D5hy79BU/YS0ZnX-xXII/AAAAAAAAAQ0/riY_VM125aAqfHGeqNd5SswIbCQsMhqRwCLcBGAsYHQ/s265/september%2Bclipart.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="190" data-original-width="265" height="190" src="https://1.bp.blogspot.com/-Vs6D5hy79BU/YS0ZnX-xXII/AAAAAAAAAQ0/riY_VM125aAqfHGeqNd5SswIbCQsMhqRwCLcBGAsYHQ/s0/september%2Bclipart.jpg" width="265" /></a></div><br /><p></p><p style="text-align: center;"><span style="color: #990000; font-family: verdana; font-size: large;">MARKET CONDITIONS</span></p><p style="text-align: left;"></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> Now that we
are a little over halfway through the year, we can get a better look at how
sales are trending in 2021. The market
is still definitely a strong, seller’s market.
Prices are increasing and days on the market have drastically reduced on
many property types. <o:p></o:p></span></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> Lakefront
home sales year to date as of the end of August are down by 14.6 percent in
number of units closed, 110 less homes than last year. However, the gross sales dollar volume
increased 19.85 percent and the average sales price was up by 40.29
percent. The average days on the market
has decreased by 41.8 percent to 61 days.
<o:p></o:p></span></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> Most of
reduction in the number of lakefront homes closed year to date compared to 2020
comes from August closings. August 2021
had 78 less lakefront home sales than August 2020. This is over fifty percent reduction, while
the average sales price remained almost the same with just a .6 percent
increase and the days on the market in August 2021 compared to August 2020
decreased from 96 days to 49 days. There
was a 17.7 percent decrease in new listings, not enough to account for the
fifty plus percent reduction.<o:p></o:p></span></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> Condo sales
year to date are also showing a year to date decrease with the number of units
closed at the end of August 2021 dipping 4.15 percent. The total gross sales dollar volumes
increased 27.6 percent compared to 2020 and the average sales price climbed 33
percent.<o:p></o:p></span></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> Comparing
August 2020 to August 2021 Condo Sales, new listings increased by 3.79 percent
in 2021. Like the lakefront home market,
the number of August 2021 condo sales decreased by 37.33 percent or a total of
56 units. This is what caused the
overall year to date decrease in condo sales.
The average days on the market for condos decreased by 61 percent in
2021 to just 37 days.<o:p></o:p></span></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> Check back
next month. I’ll take a closer look to
see if this is an anomaly or a trend. As
I mentioned a couple of months ago, I do think that we’ve hit a ceiling on
prices. There are a lot of buyers who
are ready and able to purchase but who are not willing to overpay. I think the market will remain strong. Properties that <u>are</u> selling, are
selling rapidly, as we can see from the days on the market. Market time continues to decrease. This tells me that properties that are priced
correctly are still selling quickly and that buyers are beginning to take a
step back or a deep breath and make thoughtful decisions. <o:p></o:p></span></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> C. Michael Elliott & Associates is
sponsoring Hot Summer Nights the second Friday night of each month on the
Bagnell Dam Strip. Lots of great food,
music, events, and my favorite, cool cars cruising the strip. Karen and I will be there with my new (old)
ride on September 10<sup>th</sup>.
September is a salute to military, law enforcement, firefighters and all
of our front line people. If you haven’t
been to the Lake Ozark Strip lately, you’ll be impressed. <o:p></o:p></span></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> Michael
Elliott has been selling real estate at the Lake of the Ozarks since 1981. He is one of the most respected brokers in
the area. If you would like to work with
Michael in the sale or purchase of property, or have interest in a career in
real estate, contact him at 573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%; mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.
Data obtained from the Lake of the Ozarks Multiple Listing System for 2021
and 2020.<o:p></o:p></span></p><p class="MsoNormal">
</p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> </span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"><o:p> </o:p></span></p><span style="color: #990000; font-family: verdana; font-size: large;"></span><p></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-83654995295265908222021-07-27T09:18:00.001-07:002021-07-27T10:23:30.017-07:00August Lake of the Ozarks Real Estate Update<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-obJDruNhvOc/YQAu1QiyGGI/AAAAAAAAAQU/lTsbrpsvxLsq5WdXTlKfyDcyyIqmXeZzACLcBGAsYHQ/s276/August%2Bclipart.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="165" data-original-width="276" src="https://1.bp.blogspot.com/-obJDruNhvOc/YQAu1QiyGGI/AAAAAAAAAQU/lTsbrpsvxLsq5WdXTlKfyDcyyIqmXeZzACLcBGAsYHQ/s0/August%2Bclipart.jpg" /></a></div><br /><div><br /></div><div style="text-align: center;"><span style="color: #cc0000; font-size: x-large;"><u>Mid Year Update</u></span></div><div style="text-align: center;"><span style="color: #cc0000; font-size: x-large;"><br /></span></div><div style="text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-dxLQMNy9J80/YQAvw5kk5PI/AAAAAAAAAQk/lk-HJR-wvuwih_eZ1uBubI7wxJIjpfpOwCLcBGAsYHQ/s1433/Elliott%2BAugust.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1433" data-original-width="556" height="1135" src="https://1.bp.blogspot.com/-dxLQMNy9J80/YQAvw5kk5PI/AAAAAAAAAQk/lk-HJR-wvuwih_eZ1uBubI7wxJIjpfpOwCLcBGAsYHQ/w441-h1135/Elliott%2BAugust.jpg" width="441" /></a></div><br /><span style="color: #cc0000; font-size: x-large;"><br /></span></div>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-80075594842045691992021-06-29T09:46:00.001-07:002021-06-29T09:46:44.804-07:00July Lake of the Ozarks Real Estate Update<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-acbhJEinZnw/YNtM2q4J-4I/AAAAAAAAAQA/VbW1IbQWWtQuXCIVU2cj9N7MsPwrS6MZgCLcBGAsYHQ/s612/istockphoto-1247245713-612x612.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="407" data-original-width="612" height="84" src="https://1.bp.blogspot.com/-acbhJEinZnw/YNtM2q4J-4I/AAAAAAAAAQA/VbW1IbQWWtQuXCIVU2cj9N7MsPwrS6MZgCLcBGAsYHQ/w126-h84/istockphoto-1247245713-612x612.jpg" width="126" /></a></div><br /><p></p><p></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 1pt; text-align: center;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span><b>More Changes are on the Horizon!</b><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 1.0pt;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Over the past few weeks, we have finally
started to have more properties come on the market than properties sell.<span style="mso-spacerun: yes;"> </span>I am also seeing an increase in price
reductions.<span style="mso-spacerun: yes;"> </span>These are primarily due to
sellers being overly optimistic about pricing in this hot seller’s market.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 1.0pt;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Bidding wars have cooled slightly as
buyers have become weary of the fight and concerned about overpaying.<span style="mso-spacerun: yes;"> </span>Many are making one offer but refusing to
engage in a contest while others are sitting back and biding their time.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 1.0pt;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Lumber prices dropped recently with
reports that costs will be considerably less by the end of this year.<span style="mso-spacerun: yes;"> </span>That will accelerate new construction more
than the lack of inventory has been able to spur activity.<span style="mso-spacerun: yes;"> </span>The building trades have also been getting
their crews back in place after several years of lack of work.<span style="mso-spacerun: yes;"> </span>Several reputable, capable contractors have
relocated to the lake this year and are in place to take advantage of the
upcoming construction boom.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 1.0pt;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>2020 was such an unexpected year due to
the pandemic.<span style="mso-spacerun: yes;"> </span>Based on the natural
amenities of the lake area and the freedom mentality, we gained national
exposure on a level not previously experienced.<span style="mso-spacerun: yes;">
</span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 1.0pt;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>I believe this attention and subsequent
increase in visitors and property owners will continue to trend upward.<span style="mso-spacerun: yes;"> </span>I think we are on the cusp of another
development expansions here at the lake.<span style="mso-spacerun: yes;">
</span>We are already seeing a few condominium projects and residential
developments take place.<span style="mso-spacerun: yes;"> </span>By next Spring,
I expect to see numerous ground breakings.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 1.0pt;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>I am currently working with an investment
group with a condominium project set to break ground this fall.<span style="mso-spacerun: yes;"> </span>I am also working with developers on a few
upcoming lakefront luxury spec homes.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 1.0pt;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>I have been involved in several
condominium and residential subdivisions over the years.<span style="mso-spacerun: yes;"> </span>If you have questions or interest in
investment and development property, please give me a call.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 1.0pt;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>I recently listed the “Lake Dale Estate”
at $6,550,000 situated on 25 acres and 500 feet of lakefront.<span style="mso-spacerun: yes;"> </span>We will be hosting an open house mid July by
invitation.<span style="mso-spacerun: yes;"> </span>If you would like the
opportunity to visit this exceptional home, please send an email to </span><a href="mailto:Karen@YourLake.com"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;">Karen@YourLake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;">, subject line Lake Dale Open and
include your name and the email(s) or postal address(es) where you would like
an invitation sent. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 1.0pt;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;">
</span>He is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with Michael in the
sale or purchase of property, or have interest in a career in real estate,
contact him at 573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>or stop by C.
Michael Elliott & Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p><br /><p></p>Anonymousnoreply@blogger.com1tag:blogger.com,1999:blog-2878827064457017313.post-43842746766561333532021-05-28T11:48:00.000-07:002021-05-28T11:48:43.891-07:00June Lake of the Ozarks Real Estate Update<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-ZLL3rER5--k/YLE6qy3bd7I/AAAAAAAAAPk/gK0PAkzjZ0gAmYa3TpcQ0gPfUV0avet-wCLcBGAsYHQ/s229/June%2Bone.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="229" data-original-width="220" height="148" src="https://1.bp.blogspot.com/-ZLL3rER5--k/YLE6qy3bd7I/AAAAAAAAAPk/gK0PAkzjZ0gAmYa3TpcQ0gPfUV0avet-wCLcBGAsYHQ/w142-h148/June%2Bone.jpg" width="142" /></a></div><br /><p style="text-align: center;"><span style="color: #cc0000; font-family: "Times New Roman", serif; font-size: xx-large;">What a difference a year makes!</span><span style="color: #cc0000; font-family: "Times New Roman", serif; font-size: xx-large;"> </span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>Last year
came out of the gates strong.<span style="mso-spacerun: yes;"> </span>Compared
to January of 2019, January 2020 total closed transactions had increased 20.28
percent, total dollar volume 37.6 percent and average sales price 14.4 percent.
<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>Lakefront
home sales had increased immensely.<span style="mso-spacerun: yes;"> </span>January
2020 Lakefront home closed transactions were up 28.6 percent, total dollar
volume increased 62.3 percent and the average sales price increased 25.25
percent from January 2019.<span style="mso-spacerun: yes;"> </span>New listings
decreased 14.6 percent and days on the market averaged 5 percent less than in
2019.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>In February
and March the closed transactions continued to increase year over years but
each month the gains were less, new listings began to increase as did days on
the market.<span style="mso-spacerun: yes;"> </span>In April, things really
changed abruptly.<span style="mso-spacerun: yes;"> </span>New listings dropped
by 45 percent compared to 2019, closed transactions dropped 18 percent and
sales volume dropped 14 percent. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>By the end
of May 2020, the downward effects of the pandemic on the lake real estate
market had eliminated most of the gains from the early months.<span style="mso-spacerun: yes;"> </span>Total closed transactions were down 5.56
percent year over year, total closed sales volume was even with the previous
year and the average sales price was up just 5.75 percent.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>One year
later.<span style="mso-spacerun: yes;"> </span>We’ve watched most properties
spend limited<span style="mso-spacerun: yes;"> </span>days on the market and
enjoy multiple offers.<span style="mso-spacerun: yes;"> </span>The number of
properties sold in 2021 has increased 44 percent compared to 2020.<span style="mso-spacerun: yes;"> </span>There is a 101 percent increased in total
sold volume year to date.<span style="mso-spacerun: yes;"> </span>The average
sales price has increased 39.87 percent for 2021 sales compared to those closed
in 2020.<span style="mso-spacerun: yes;"> </span>There is also a 15.28 percent
decrease in time on the market.<span style="mso-spacerun: yes;"> </span>These
numbers include all properties types.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>It’s a
little difficult to compare this year vs last due to the pandemic and the toll
it took on the second quarter of the year.<span style="mso-spacerun: yes;">
</span>It is important to keep in mind that while there has been huge increases
this year, there were some pretty big decreases or adjustments to the market
during the early months of the pandemic.<span style="mso-spacerun: yes;">
</span>Even so, it’s no difficulty to see that the pandemic drove our market up
in a way that we have never experienced.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>I have
noticed over the last two to three weeks of May that there has been a slight
slow down to the frenetic activity of the past year.<span style="mso-spacerun: yes;"> </span>I am seeing properties sit a little longer on
the market and I am seeing more price reductions.<span style="mso-spacerun: yes;"> </span>I don’t feel we are headed for any major
change, but I do think that we’ve hit a ceiling on prices.<span style="mso-spacerun: yes;"> </span>There are a lot of buyers who are ready and
able to purchase but who are not willing to overpay.<span style="mso-spacerun: yes;"> </span>I think we are reaching the point where
prices will begin to even out and not climb as rapidly.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>C. Michael Elliott & Associates is
sponsoring Hot Summer Nights second Friday night of each month on the Bagnell
Dam Strip.<span style="mso-spacerun: yes;"> </span>Lots of great food, music,
events, and my favorite, cool cars cruising the strip.<span style="mso-spacerun: yes;"> </span>Karen and I will be there with my new (old)
ride on June 11<sup>th</sup>.<span style="mso-spacerun: yes;"> </span>If you
haven’t been to the Lake Ozark Strip lately, you’ll be impressed.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>Michael
Elliott has been selling real estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;"> </span>He is one of the most respected brokers in
the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with
Michael in the sale or purchase of property, or have interest in a career in
real estate, contact him at 573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%; mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;">
</span>Data obtained from the Lake of the Ozarks Multiple Listing System for
2019 and 2020.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><o:p> </o:p></span></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-7182262066322348922021-04-27T08:32:00.003-07:002021-05-28T12:14:44.132-07:00May Lake of the Ozarks Real Estate Update<p style="text-align: center;"><a href="https://1.bp.blogspot.com/-2iCAmSCWuwg/YLFAglX0icI/AAAAAAAAAPs/wVBBTO3CsXoYAQ7qKCUqI58vgSf4PwTTACLcBGAsYHQ/s225/hello%2Bmay.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="225" data-original-width="225" height="162" src="https://1.bp.blogspot.com/-2iCAmSCWuwg/YLFAglX0icI/AAAAAAAAAPs/wVBBTO3CsXoYAQ7qKCUqI58vgSf4PwTTACLcBGAsYHQ/w162-h162/hello%2Bmay.jpg" width="162" /></a></p><p style="text-align: center;"><br /> </p><p style="text-align: center;"><span style="color: red; font-size: x-large;"><b>Hot Seller's Market</b></span></p><p style="text-align: left;"></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>You don’t need me to tell you that it’s a
HOT seller’s market or that property values have doubled and then some this
year.<span style="mso-spacerun: yes;"> </span>I think that information is
glaring at you from every media source available.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>As I write this as the end of April, there
are currently about 1200 properties on the market in the Lake of the Ozarks and
Bagnell Dam area multiple listing system.<span style="mso-spacerun: yes;">
</span>This number includes all homes, on and off water, condos, lots, farms,
and acreages.<span style="mso-spacerun: yes;"> </span>There have been almost
that number of properties sold and closed so far this year.<span style="mso-spacerun: yes;"> </span>We also have just under 1,000 agents in our
local MLS with hundreds of agents who primarily work other areas also working
the lake market.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>I see a lot of information talking about
whether now is the time to sell or buy.<span style="mso-spacerun: yes;">
</span>There are so many variables to this answer depending on everything from
how you plan to use the property to what level of risk you are comfortable
with.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>Almost all properties, and especially
homes and condos, are receiving multiple offers.<span style="mso-spacerun: yes;"> </span>Some things to keep in mind as a buyer.<span style="mso-spacerun: yes;"> </span>You need to be in a position to move quickly
when a property becomes available.<span style="mso-spacerun: yes;"> </span>If
you aren’t located at the lake full time, develop a relationship with a broker
that you can count on.<span style="mso-spacerun: yes;"> </span>You need a broker
who will be able to visit a new listing as soon as it hits the market, tell you
if it will suit your needs and give you a video walk through.<span style="mso-spacerun: yes;"> </span>Even better, is a broker who will let you
know as soon as a suitable property becomes available AND one who will seek out
property not on the market or for sale by owner for you.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>You will need to be pre-approved for
financing or have the ability to pay cash in order to compete with today’s
offers.<span style="mso-spacerun: yes;"> </span>Depending on the property, you
may need to make an offer considerably above the asking price.<span style="mso-spacerun: yes;"> </span>While you need to be able to make a strong
offer, I urge you to be cautious about giving up your rights to inspections and
appraisals.<span style="mso-spacerun: yes;"> </span>It’s easy to get carried
away with winning the bidding war.<span style="mso-spacerun: yes;"> </span>An
experienced real estate broker can help you stay calm and make rational long-term
decisions.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>If you are considering selling your lake
property, you are definitely in the driver’s seat. Prior to accepting offers,
setting the asking price and how you initially present your property to the
market still matters and can make a big difference in your final sale price.<span style="mso-spacerun: yes;"> </span>If you need to purchase another property, you
should research your options before deciding to sell.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>Some properties are receiving as many as
twenty offers.<span style="mso-spacerun: yes;"> </span>This is a great position
to be in but can bring a lot of confusion in deciding which offer to
accept.<span style="mso-spacerun: yes;"> </span>Highest price seems like the
obvious choice but there are many other factors to consider.<span style="mso-spacerun: yes;"> </span>Various contingencies, closing dates, items
included in the sale and buyers financing are a few of the items that you will
need to weigh out.<span style="mso-spacerun: yes;"> </span>A buyer might make a
cash offer, but your broker should verify that they have the funds to bring to
the closing table or you could be starting over at square one.<span style="mso-spacerun: yes;"> </span>With the amount of ready buyers, it’s a great
idea to have a backup offer in place in case the first buyer is unable to
complete the purchase. <span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;">
</span>He is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with Michael in the
sale or purchase of property, or have interest in a career in real estate,
contact him at 573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>or stop by C.
Michael Elliott & Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 107%;"><o:p> </o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p><span style="color: red; font-size: large;"><b></b></span><p></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-47824707261256818372021-03-30T12:21:00.000-07:002021-03-30T12:21:11.705-07:00April Lake of the Ozarks Real Estate Update<p style="text-align: center;"> <span style="color: #0b5394; font-size: x-large;"><b>Spring Market</b></span></p><p style="text-align: center;"><span style="font-family: "Times New Roman", serif; font-size: 14pt; text-align: left;">As we reach the
Spring market and look back at the first quarter of 2021, lake area real estate
sales show no signs of slowing down.</span><span style="font-family: "Times New Roman", serif; font-size: 14pt; text-align: left;"> </span></p><p style="text-align: center;">
</p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>I’ve been reviewing the inventory levels
over the last few years beginning in 2016.<span style="mso-spacerun: yes;">
</span>For comparison I am using the category of lakefront home listings.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>In January of 2016, there were 700
lakefront homes on the market on average on any given day.<span style="mso-spacerun: yes;"> </span>That number increased to 753 in February of
2016 and continued to increased each month until June.<span style="mso-spacerun: yes;"> </span>In June of 2016, lakefront home inventory had
peaked for the year at 1,001 and inventory returned to 671 lakefront homes in
December.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>It is typical for the inventory to ebb and
flow each year and it usually reaches its highest point in June or July.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>As the market improved each year, the
overall average inventory dropped.<span style="mso-spacerun: yes;">
</span>That’s a pretty obvious result of increased demand and no surprise.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>That brings us to this year, 2021.<span style="mso-spacerun: yes;"> </span>In January of this year the average lakefront
home inventory was 208.<span style="mso-spacerun: yes;"> </span>That’s a
decrease of 12.6 percent compared to the inventory in the previous month of
December 2020.<span style="mso-spacerun: yes;"> </span>It is still “normal” for
inventory to decrease from December to January although in the past I think
that is due to people taking their property off the market as much, if not
more, than it is due to sales.<span style="mso-spacerun: yes;"> </span>I’m
speaking strictly anecdotally since I don’t have a way to definitely track
this, but I feel this inventory decrease is due to the sales.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>In February 2021, when we would expect to
see an increase in average active lakefront home inventory, the market
experienced another decrease of 16.3 percent from January levels to February
levels of 174 lakefront homes.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>As I wrap this up on March 30<sup>th</sup>,
the full average inventory data is not yet available for March.<span style="mso-spacerun: yes;"> </span>I can tell you that today there are just 63
lakefront homes actively available. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Something we don’t have a shortage of is
available agents.<span style="mso-spacerun: yes;"> </span>There are currently
911 members of our local Multiple Listing Systems and growing daily.<span style="mso-spacerun: yes;"> </span>You’ll have plenty of selection when it comes
to getting help finding a lake home.<span style="mso-spacerun: yes;"> </span>I’d
love to have the opportunity!<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>All sales data obtained from the Bagnell Dam
and Lake of the Ozarks Board of Realtors Multiple Listing System for the years
2016 through March 30, 2021.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>C. Michael Elliott and Associates is a
boutique, privately owned office.<span style="mso-spacerun: yes;"> </span>Please
give us a call if you are considering buying or selling, we’ll explain our
services in detail and you can decide if we are a good fit for you.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;">
</span>He is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with Michael in the
sale or purchase of property, or have interest in a career in real estate,
contact him at 573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>or stop by C.
Michael Elliott & Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span></span><o:p></o:p></p><span style="color: #0b5394; font-size: x-large;"><b></b></span><p></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-85443196287060359372021-02-23T09:22:00.000-08:002021-02-23T09:22:42.096-08:00March Lake of the Ozarks Real Estate Update<p> </p><div class="separator" style="clear: both; text-align: left;"><a href="https://1.bp.blogspot.com/-UnKZj9Eanlw/YDU4TpkA8nI/AAAAAAAAAO4/HNpaVM2dlbs7WyqwNwL9ES6vwDJ1928KACLcBGAsYHQ/s1703/Elliott%2BMarch.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1703" data-original-width="556" height="1603" src="https://1.bp.blogspot.com/-UnKZj9Eanlw/YDU4TpkA8nI/AAAAAAAAAO4/HNpaVM2dlbs7WyqwNwL9ES6vwDJ1928KACLcBGAsYHQ/w551-h1603/Elliott%2BMarch.jpg" width="551" /></a></div><br /><p></p>Anonymousnoreply@blogger.com1tag:blogger.com,1999:blog-2878827064457017313.post-32244575942320532782021-01-26T11:50:00.009-08:002021-01-26T12:59:21.956-08:00February Lake of the Ozarks Real Estate Update<p> </p><p style="text-align: center;"><span style="color: red; font-size: medium;"><b>2021 Lake Market Remains Strong</b></span></p><p> The real estate market in 2021 shows no
sign of slowing based on the activity I am seeing so far in January. I have broken down the numbers to give you an
idea of how quickly residential properties are moving during what is
traditionally a slower time for sales at the Lake.</p><p></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>During the first four weeks of 2021, from
January 1 to January 26, a total of sixty-two new condominiums or single-family
homes were placed on the market.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>It is possible that some of these were
previously on the market and have been relisted but considering how strong
sales are, I feel this would be an extremely small amount.<span style="mso-spacerun: yes;"> </span>At this same time, one hundred sixty-seven listings
were sold (closed) and two hundred twelve listings’ status was changed to
indicate either a pending or contingent contract.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>Further analysis of these numbers shows
that there were only five new listings of condominium units.<span style="mso-spacerun: yes;"> </span>A total of forty-six condo units closed and sixty-two
condo units had status changes to pending or contingent.<span style="mso-spacerun: yes;"> </span>There are currently just thirty-two condos
actively available.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>Single family home sales also remain
vigorous.<span style="mso-spacerun: yes;"> </span>Twenty-five offwater homes
were new to the market in January, fifty-three offwater homes were pending or
contingent and fifty-six offwater homes sold.<span style="mso-spacerun: yes;">
</span>One hundred twenty-one offwater single family homes are now on the
market.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>Homes with lake views and/or lake access
amounted to twelve new to the market, twenty-nine pended or shown as contingent
and fourteen closed.<span style="mso-spacerun: yes;"> </span>Forty homes in the
property type are currently available.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>Lakefront homes new to the market equaled
twenty.<span style="mso-spacerun: yes;"> </span>Seventy lakefront homes were
marked as pending or contingent and fifty-one sold.<span style="mso-spacerun: yes;"> </span>One hundred six lakefront homes remain on the
market.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>All sales data obtained from the Lake of
the Ozarks Board of Realtors Multiple Listing System for the time frame January
1 – January 26, 2021.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>C. Michael Elliott and Associates is a
boutique, privately owned office with a great group of knowledgeable, topnotch
agents and staff that will work in your best interest and are enjoyable to work
with.<span style="mso-spacerun: yes;"> </span>Please give us a call if you are
considering buying or selling, we’ll explain our services in detail and you can
decide if we are a good fit for you.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;">
</span>He is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with Michael in the
sale or purchase of property, or have interest in a career in real estate,
contact him at 573.365.SOLD or <a href="mailto:cme@yourlake.com"><span style="mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p><b><span style="color: #cc0000; font-size: medium;"></span></b><p></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-75368730891660978182020-12-29T12:04:00.000-08:002020-12-29T12:04:07.156-08:00January Lake of the Ozarks Real Estate Update<p> </p><p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;"><span style="color: red; font-size: large;"><b>New Year’s Market Uncertainty</b></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p> </o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>Market activity over the previous seven
days ending December 29<sup>th </sup>had thirty-five new listings to the market
plus nine properties had sales contracts cancelled and are now back on the
market. A total of fifty-six properties were placed under contract.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>While
nine may not seem a large amount, it is considerable when you realize that it
equals one-fourth the number of new listings.<span style="mso-spacerun: yes;">
</span><span style="mso-spacerun: yes;"> </span>The most common reasons for failure
are due to items discovered during inspections, property not appraising, buyer
unable to obtain financing and, lately, buyer getting cold feet.<span style="mso-spacerun: yes;"> </span>I have been involved in more transactions
this year where the buyer backs up and chooses not to complete a sale than I
have any other year over the last thirty-nine years.<span style="mso-spacerun: yes;"> </span>I have spoken to numerous fellow agents
experiencing the same circumstances.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>I expect this situation to continue into
2021 for the first six months at a minimum.<span style="mso-spacerun: yes;">
</span>As we are all aware, there is a great deal of uncertainty in almost
every aspect of life right now. Buyers are also facing much higher prices than
just one year ago and are having to make cuts to their criteria list.<span style="mso-spacerun: yes;"> </span>Competition is fierce and when a new listing
hits the market, buyers must move rapidly and be prepared to make quick
decisions to have a shot at an accepted contract.<span style="mso-spacerun: yes;"> </span>These factors can make for nervous buyers and
sometimes result in cold feet.<span style="mso-spacerun: yes;"> </span>There is
an abundance of demand for lake property coupled with historically low
inventory. <span style="mso-spacerun: yes;"> </span>The upside of this is that it
allows sellers to move quickly to the next buyer.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>Year to date sales comparisons as of
December 29<sup>th </sup>, 2020 show the number of<span style="mso-spacerun: yes;"> </span>lakefront home sales up forty percent
compared to 2019 and the average sales price up twenty-two percent.<span style="mso-spacerun: yes;"> </span>Off-water home sales increased seventeen
percent both by amount and price.<span style="mso-spacerun: yes;"> </span>Condo
units sold increased thirty-three percent and the average sales price of resale
units rose seventeen percent.<span style="mso-spacerun: yes;"> </span>The number
of Lakefront lot sales increased by one hundred and forty-seven percent and the
average sales price was up by twenty-four percent.<span style="mso-spacerun: yes;"> </span>Total Off-water lot sales increased
thirty-three percent with an increase of nineteen percent in the average sales
price.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>All sales data obtained from the Lake of the
Ozarks Board of Realtors’ Multiple Listing System for the years 2019 and 2020.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>C. Michael Elliott and Associates is a
boutique, privately owned office with a great group of knowledgeable, topnotch
agents and staff that will work in your best interest and are enjoyable to work
with.<span style="mso-spacerun: yes;"> </span>We are happy to explain our
services in detail and you can decide if we are a good fit for you.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>C. Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;">
</span>He is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with Michael in the
sale or purchase of property, or have interest in a career in real estate,
contact him at 573.365.SOLD or <a href="mailto:cme@yourlake.com"><span style="mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p> </o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p> </o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p> </o:p></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-80895011863694097552020-11-30T12:37:00.000-08:002020-11-30T12:37:26.641-08:00December Lake of the Ozarks Real Estate Update<p style="text-align: center;"> <span style="color: #cc0000; font-size: x-large; text-align: center;">A Year Like No Other at a Lake Like No Other</span></p><p></p><p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;"><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p> </o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>2020 has been a year of blessings.<span style="mso-spacerun: yes;"> </span>That may not be most people’s first thought
as they reflect on this past year.<span style="mso-spacerun: yes;"> </span>It
has also been a year of fear, loss, upheaval, and unforeseen events.<span style="mso-spacerun: yes;"> </span>I feel we have been particularly blessed at
Lake of the Ozarks.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>As an unknown virus made its appearance
during the first quarter of this year and traveled across the country;
businesses, schools and events were closed or cancelled.<span style="mso-spacerun: yes;"> </span>At a time when most Lake area businesses were
gearing up for the 2020 season, suddenly everything and everyone was in
limbo.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>As people began to realize that schools
were not going to resume session and employers set up work from home
situations, the nation collectively looked to areas where they could spread
out, be safe and still possibly enjoy life while we waited to see what came
next.</p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>Those fortunate enough to own a home at
the lake headed this way.<span style="mso-spacerun: yes;"> </span>Spring boating
at the lake was at an all-time high with plenty of space to socially distance
in the fresh air.<span style="mso-spacerun: yes;"> </span>Businesses cautiously
opened.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Memorial Weekend gave us widespread news
coverage (all press is good press?) as the world learned about our piece of
heaven here in the Ozarks and vacation rentals began to rapidly fill up.<span style="mso-spacerun: yes;"> </span>Property sales began to skyrocket with sales
increasing over 100 percent during the summer months.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>I know there have been terrible hardships
suffered across the country.<span style="mso-spacerun: yes;"> </span>Loss of
lives and loss of income has devastated many areas and many people.<span style="mso-spacerun: yes;"> </span>I feel we have been truly fortunate here at
the lake to have an environment that allowed us to continue working and gave us
an outlet to enjoy life and time with our immediate families.<span style="mso-spacerun: yes;"> </span>There is a spirit of comradery among “Lake
People”; a willingness to help one another and a common bond in our love of
Lake Life.<o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>As 2020 winds down and a vaccine seems
close to being distributed for medical personnel and first responders, I pray
that it is successful.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>I am thankful for so many things.<span style="mso-spacerun: yes;"> </span>I appreciate my clients who allow me to
provide for my family.<span style="mso-spacerun: yes;"> </span>I am thankful for
my work family of staff and agents who support me.<span style="mso-spacerun: yes;"> </span>I enjoy the Lake’s extended Realtor family,
all of whom also help me to be successful and to enjoy this business.<span style="mso-spacerun: yes;"> </span>I am grateful to live in such a beautiful and
prosperous area as Lake of the Ozarks.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span>Merry Christmas and Happy New Year.<span style="mso-spacerun: yes;"> </span>I hope you all find peace and joy this
season.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>C.
Michael Elliott and Associates is a boutique, privately owned office with a
great group of knowledgeable, topnotch agents and staff that will work in your
best interest and are enjoyable to work with.<span style="mso-spacerun: yes;">
</span>Please give us a call if you are considering buying or selling, we’ll
explain our services in detail and you can decide if we are a good fit for you.<span style="mso-spacerun: yes;"> </span>Michael Elliott has been selling real estate
at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;"> </span>He
is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>You
can contact him at 573.365.SOLD or <a href="mailto:cme@yourlake.com"><span style="mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p> </o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p> </o:p></p><br /><p></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-51841141447758674812020-10-27T11:26:00.002-07:002020-10-27T11:26:46.123-07:00November Lake of the Ozarks Real Estate Update<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p> </o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p></o:p></p><p style="text-align: center;"><span style="color: #cc0000; font-size: large;"><span style="text-align: left;">Continuing the
Upward Trend</span> </span></p><p style="text-align: center;"><span style="text-align: left;"> <span style="font-size: medium;"> </span></span><span style="font-size: medium;"><span style="text-align: left;">Lake area sales continue the rapid pace we
have been seeing since Spring of this year.</span><span style="text-align: left;">
</span><span style="text-align: left;">Contracts written keep exceeding new listings coming on the market.</span><span style="text-align: left;"> </span><span style="text-align: left;">As I write this near the end of October, the
previous seven day’s activity remains strong.</span><span style="text-align: left;">
</span><span style="text-align: left;">A total of 73 new listings became available via the Lake’s Multiple
Listing System, 118 properties have had contracts accepted and 125 property
transactions closed.</span></span></p><p style="text-align: left;"></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-size: medium;"><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-size: medium;"><span style="mso-spacerun: yes;"> </span>I am currently working with developers who
are planning a new lakefront condo project in one of the Lake’s most desirable
locations.<span style="mso-spacerun: yes;"> </span>Over the next couple of
months, I will be able to share more information on size, pricing, finishes and
options.<span style="mso-spacerun: yes;"> </span>It’s an exciting time as we see
more people become aware of all that the lake has to offer.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-size: medium;"><span style="mso-spacerun: yes;"> </span>All property types and all price ranges
have benefited from the surge of activity created by the pandemic. At the start
of the year, luxury home sales had lagged behind the recovery enjoyed by more
moderately priced homes but have now regained traction and are generating more
interest than I have ever experienced in that price point.<span style="mso-spacerun: yes;"> </span>I recently listed a lakefront home at just
under $1.2 million and had eight showing appointments scheduled within two
hours.<span style="mso-spacerun: yes;"> </span>The home was sold within 24
hours.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-size: medium;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Here’s a snapshot of sales across all
property types.<span style="mso-spacerun: yes;"> </span>Year to date in 2020 vs.
2019, lakefront homes sales have increased by 38.6 percent.<span style="mso-spacerun: yes;"> </span>Non lakefront homes sales have increased by
10.4 percent.<span style="mso-spacerun: yes;"> </span>Condo sales have increased
by 23.4 percent.<span style="mso-spacerun: yes;"> </span>Non lakefront lots
sales have increased by 18.4 percent and lakefront lots have increased a
whopping 130 percent.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-size: medium;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>All sales data obtained from the Lake of the
Ozarks Board of Realtors Multiple Listing System for the years 2019 and 2020.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-size: medium;"><span style="mso-spacerun: yes;"> </span>C. Michael Elliott and Associates is a
boutique, privately owned office with a great group of knowledgeable, topnotch
agents and staff that will work in your best interest and are enjoyable to work
with.<span style="mso-spacerun: yes;"> </span>Please give us a call if you are
considering buying or selling, we’ll explain our services in detail and you can
decide if we are a good fit for you.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><span style="font-size: medium;"><span style="mso-spacerun: yes;"> </span>Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;">
</span>He is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with Michael in the
sale or purchase of property, or have interest in a career in real estate,
contact him at 573.365.SOLD or <a href="mailto:cme@yourlake.com"><span style="mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p><span style="font-size: medium;"> </span></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p><span style="font-size: medium;"> </span></o:p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0in;"><o:p><span style="font-size: medium;"> </span></o:p></p><span style="color: #cc0000; font-size: large;"></span><p></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-43979238488072927202020-09-29T13:49:00.000-07:002020-09-29T13:49:04.747-07:00October Lake of the Ozarks Real Estate Update<p style="text-align: center;"><b> <span style="color: #990000;">UPTURN MARKET DESPITE COVID</span></b></p><p style="text-align: center;"><span style="color: #990000;"><br /></span></p><p style="text-align: left;"></p><p class="MsoNormal"><span style="mso-spacerun: yes;"> </span>At the start of
2020, it appeared that this year would bring a slight easing of existing
property sales as new construction started to take off.<span style="mso-spacerun: yes;"> </span>I also felt that property values would not
continue to increase as quickly as last year.<span style="mso-spacerun: yes;">
</span>Then Covid made it’s appearance and turned all real estate predictions
upside down.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="mso-spacerun: yes;"> </span>January and
February residential sales had increased by 18.9 percent in 2020 versus
2019.<span style="mso-spacerun: yes;"> </span>This included all homes and condos
closed in those months.<span style="mso-spacerun: yes;"> </span>In March, lake
area sales slowed down.<span style="mso-spacerun: yes;"> </span>We watched to
see what the various restrictions and shutdowns across the country would
bring.<span style="mso-spacerun: yes;"> </span>Businesses pivoted to allow
employees to work from home and schools shifted to online learning.<span style="mso-spacerun: yes;"> </span>Thousands who had access to a lake home
packed up and moved temporarily, many permanently, to Lake of the Ozarks.<o:p></o:p></p>
<p class="MsoNormal"><span style="mso-spacerun: yes;"> </span>By the end of
May, lake area real estate sales had fallen in comparison to last year.<span style="mso-spacerun: yes;"> </span>The number of lakefront home closings had
decreased by 2.5 percent.<span style="mso-spacerun: yes;"> </span>The sale of
homes not directly on the water decreased 4.5 percent compared to 2019 and
condo sales were down 13 percent.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="mso-spacerun: yes;"> </span>Beginning in June,
closing numbers roared and property values accelerated rapidly.<span style="mso-spacerun: yes;"> </span>It was unusual for any properly priced
property NOT to receive multiple offers.<span style="mso-spacerun: yes;">
</span>The months of June through September had record increases in residential
sales.<span style="mso-spacerun: yes;"> </span>During those four months, lakefront
homes sold increased by 78 percent compared to 2019.<span style="mso-spacerun: yes;"> </span>Non lakefront home sales increased 21.4
percent and condo sales increased 57 percent.<o:p></o:p></p>
<p class="MsoNormal"><span style="mso-spacerun: yes;"> </span>Current YTD sales
as of the end of September show that 2020 lakefront home sales increased by
41.2 percent compared to 2019.<span style="mso-spacerun: yes;"> </span>Non
lakefront home sales increased 8.7 percent YTD and condo sales increased 22.8
percent.<o:p></o:p></p>
<p class="MsoNormal"><span style="mso-spacerun: yes;"> </span>Weekly sales
stats for the last week of September indicate that sales remain strong into the
Fall market.<span style="mso-spacerun: yes;"> </span>A review of the data for all
homes and condos show that 68 new residential listings hit the market and 100
residential listings were marked as under contract.<span style="mso-spacerun: yes;"> </span>There also have been a total of 103
residential sales closed in the last seven days.<span style="mso-spacerun: yes;"> </span>All sales data obtained from the Lake of the
Ozarks Board of Realtors Multiple Listing System for the years 2019 and 2020.<o:p></o:p></p>
<p class="MsoNormal"><span style="mso-spacerun: yes;"> </span>C. Michael
Elliott and Associates is a boutique, privately owned office with a great group
of knowledgeable, topnotch agents and staff that will work in your best interest
and are enjoyable to work with.<span style="mso-spacerun: yes;"> </span>Please
give us a call if you are considering buying or selling, we’ll explain our
services in detail and you can decide if we are a good fit for you.<o:p></o:p></p>
<p class="MsoNormal"><span style="mso-spacerun: yes;"> </span>Michael Elliott
has been selling real estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;"> </span>He is one of the most respected brokers in
the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with
Michael in the sale or purchase of property, or have interest in a career in
real estate, contact him at 573.365.SOLD or <a href="mailto:cme@yourlake.com"><span style="mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p><span style="color: #990000;"></span><p></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-29401924730767175342020-08-25T12:36:00.004-07:002020-08-25T12:36:58.393-07:00September Lake of the Ozarks Real Estate Update<p> <span style="background-color: white; font-size: 16pt; text-align: center;"><span style="color: #990000;">Check the Dock Permit before you Buy</span></span></p>
<p class="MsoNormal"><span style="background: white; font-size: 11.0pt;"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="background: white; color: black; font-size: 11.0pt; mso-color-alt: windowtext;"><span style="mso-spacerun: yes;"> </span></span><span style="background: white; color: black; font-size: 14.0pt; mso-color-alt: windowtext;">The
ability to have a dock permit greatly affects property value.<span style="mso-spacerun: yes;"> </span>The size of the dock envelope and distance
from other structures also is a big factor.<span style="mso-spacerun: yes;">
</span>Be sure you are making an informed decision before you commit to a
purchase.</span><span style="background: white; font-size: 14.0pt;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="background: white; color: black; font-size: 14.0pt; mso-color-alt: windowtext;"><span style="mso-spacerun: yes;"> </span>When searching
for a lakefront property, understand the permitting process for docks, seawalls,
and other lakefront improvements. When considering a property for purchase, always
ask to see approved permits.</span><span style="background: white; font-size: 14.0pt;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="background: white; color: black; font-size: 14.0pt; mso-color-alt: windowtext;"><span style="mso-spacerun: yes;"> </span>When I
list a property, I discuss the dock and various permits with the seller and
request a copy of those permits from Ameren.<span style="mso-spacerun: yes;">
</span>This shows all permitted items currently on the property along with a
drawing of where the items should be situated according to the permit.<span style="mso-spacerun: yes;"> </span>It can also indicate potential for a larger
dock system or other items.<span style="mso-spacerun: yes;"> </span>If it
appears that any items are not permitted or appear to be out of the correct
position, I help the owner arrange further investigation and correction, if
necessary.</span><span style="background: white; font-size: 14.0pt;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="background: white; color: black; font-size: 14.0pt; mso-color-alt: windowtext;"><span style="mso-spacerun: yes;"> </span>I post
the permit information with the listing data so buyers can see if a property’s
lakefrontage suits their needs.<span style="mso-spacerun: yes;"> </span>This verifies
that the existing dock, seawall, etc. match the current permit and makes for a
smoother real estate transaction.<span style="mso-spacerun: yes;"> </span>I
recommend that you do a visual inspection and get additional help if you aren’t
sure about any permit items.<span style="mso-spacerun: yes;"> </span></span><span style="background: white; font-size: 14.0pt;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="background: white; color: black; font-size: 14.0pt; mso-color-alt: windowtext;"><span style="mso-spacerun: yes;"> </span>For
most lakefront buyers, the availability to have or install a dock that suits
their needs is crucial.<span style="mso-spacerun: yes;"> </span>Not all
lakefront property is able to have a dock, and some have significant
limitations. This may be caused by a subdivision restriction; other times it is
due to the way the lot lines run to the lake, position of the lot in a cove,
size of cove, etc.<span style="mso-spacerun: yes;"> </span>Some subdivisions
designated certain lots as able to have a small dock, day dock, etc. BUT in the
time since those subdivisions were created Ameren permitting rules changed and many
of those lots are no longer able to obtain a permit.</span><span style="background: white; font-size: 14.0pt;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="background: white; color: black; font-size: 14.0pt; mso-color-alt: windowtext;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Docks are required to be installed within the
boundaries set out by Ameren.<span style="mso-spacerun: yes;"> </span>Because
lot lines vary from lot to lot, the dock envelope can change greatly between
properties.<span style="mso-spacerun: yes;"> </span>Ameren can require a
property owner to obtain a survey if there is any question about the location
of permit items.<span style="mso-spacerun: yes;"> </span>There may be dock
location agreements or easements granted to or by another property owner that
you need to research before purchasing.<span style="mso-spacerun: yes;">
</span></span><span style="background: white; font-size: 14.0pt;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="background: white; color: black; font-size: 14.0pt; mso-color-alt: windowtext;"><span style="mso-spacerun: yes;"> </span>When ownership
of a lakefront property with Ameren permits changes; Ameren must be notified,
and the existing permit(s) should be transferred to the new owner.<span style="mso-spacerun: yes;"> </span>An electrical inspection completed and
approved by the appropriate authority within the previous 12 months must be
submitted with the permit transfer.<span style="mso-spacerun: yes;"> </span>If
this inspection shows items not in compliance; those items must be corrected with
an approval issued before Ameren will process the transfer.<span style="mso-spacerun: yes;"> </span>Existing permit numbers stay with the
property, they are NOT transferred with the dock.<span style="mso-spacerun: yes;"> </span>Any new construction, replacement or
modification of existing docks must be permitted.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span><span style="background: white; font-size: 14.0pt;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="background: white; color: black; font-size: 14.0pt; mso-color-alt: windowtext;"><span style="mso-spacerun: yes;"> </span>These
are the type of issues that a good Broker will keep you informed about and walk
you through any vital procedures to help you maintain your property’s
value.<span style="mso-spacerun: yes;"> </span>There are many unseen items
beyond the house size, condition and location that you need to be aware of when
making a purchase.<span style="mso-spacerun: yes;"> </span></span><span style="background: white; font-size: 14.0pt;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="background: white; color: black; font-size: 14.0pt; mso-color-alt: windowtext;"><span style="mso-spacerun: yes;"> </span></span><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="font-size: 14.0pt;">Michael Elliott has been selling real estate at the
Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;"> </span>He is one
of the most respected brokers in the area.<span style="mso-spacerun: yes;">
</span>If you have interest in a career in real estate or would like Michael’s
assistance in the sale or purchase of property, you can reach him at
573.365.SOLD or </span></i></b><a href="mailto:cme@yourlake.com"><b><i style="mso-bidi-font-style: normal;"><span style="font-size: 14.0pt;">cme@yourlake.com</span></i></b></a><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="font-size: 14.0pt;"><span style="mso-spacerun: yes;"> </span>View thousands
of lake area listings at </span></i></b><a href="http://www.yourlake.com/"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="font-size: 14.0pt;">www.YourLake.com</span></i></b></a><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="font-size: 14.0pt;"> <span style="mso-spacerun: yes;"> </span></span></i></b><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt;"><o:p></o:p></span></b></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt;"><o:p> </o:p></span></b></p>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-60503010354094189252020-07-29T07:25:00.000-07:002020-07-29T07:25:50.615-07:00August Lake of the Ozarks Real Estate Update<div style="text-align: center;">
<span style="font-size: x-large;">It's a Seller's Market</span></div>
<br />
<br />
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;">At
the rate lake property is selling, we’ll be sold out by Fall!<span style="mso-spacerun: yes;"> </span>Seriously, I have been selling lake area real
estate since 1981 and I have never seen inventory levels this low.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>We have been experiencing low inventory
the past couple of years.<span style="mso-spacerun: yes;"> </span>This was
especially true in a price range up to $500,000 and somewhat extending up to
about $750,000 for lakefront homes and most condos.<span style="mso-spacerun: yes;"> </span>Upper end properties and vacant land were
not seeing much activity.<span style="mso-spacerun: yes;"> </span>Also,
properties with limitations like shallow water, cramped docking areas and
grossly overpriced properties simply were not moving.<span style="mso-spacerun: yes;"> </span>As this year has progressed, more buyers and
buyers willing to accept those limits just to get on the lake have drawn even
those inventories down.<span style="mso-spacerun: yes;"> </span>I am seeing
prices escalate and buyers willing to pay more based on that continual increase
however I am not seeing many buyers who are willing to pay a hugely inflated
number.<span style="mso-spacerun: yes;"> </span>They are doing their homework
and not setting themselves up to be upside in a home.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>At this point, all price ranges are moving
and homes both on and off water, condos and vacant lots are all selling at a
rapid pace.<span style="mso-spacerun: yes;"> </span>There are currently just 169
lakefront homes available and 100 condo units.<span style="mso-spacerun: yes;">
</span>Year to date there have been 558 lakefront home sales (closed) with 135
currently pending and 546 condo sales with 110 currently pending.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>New listing of Lakefront homes have
dropped 12.5 percent in 2020 compared to 2019 and the number is down 27 percent
from June to July 2020.<span style="mso-spacerun: yes;"> </span>New condo
listings are 11.25 percent lower in 2020 year to date and down 7.62 percent
from June to July of this year.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>Lakefront lot sales have increased 78
percent in 2020 compared to 2019 as we are starting to see buyers shift from
searching for an existing home to building.<span style="mso-spacerun: yes;">
</span>There has also been a small increase in new condominium units under
construction and that trend will continue along with ground being broken on
spec homes.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>I don’t look for us to see the traditional
slow down that we usually experience after Labor Day as remote learning and
work continue in much of the country.<span style="mso-spacerun: yes;"> </span>Area
schools are experiencing record numbers of new students and the lake post
offices are experiencing huge increases in residential delivery customers.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>The
strong sellers’ market continues.<span style="mso-spacerun: yes;"> </span>I
believe it will continue to do so well into next year barring any unusual
events.<span style="mso-spacerun: yes;"> </span>I think it will start to ease
some in mid to late 2021 as more spec homes and condos are built, and prices
reach a point where the cost of building new vs. buying existing are not as far
apart.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;">
</span>Michael Elliott has been selling real estate at the Lake of the Ozarks
since 1981.<span style="mso-spacerun: yes;"> </span>He is one of the most
respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you
would like to work with Michael in the sale or purchase of property, or have
interest in a career in real estate, contact him at 573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%; mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;">
</span>View thousands of lake area listings at </span><a href="http://www.yourlake.com/"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;">www.YourLake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;">.<span style="mso-spacerun: yes;"> </span>You can also view each months’ article, ask
questions and offer your opinion on Michael’s real estate blog, </span><a href="http://www.asthelakechurns.com/"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%; mso-bidi-font-weight: bold;">www.AsTheLakeChurns.com</span></a><span class="MsoHyperlink"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%; mso-bidi-font-weight: bold;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="mso-pagination: none;">
<br /></div>
<br />Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-20706027492062279622020-06-30T09:23:00.001-07:002020-06-30T09:23:30.263-07:00July Lake of the Ozarks Real Estate Update<div style="text-align: center;">
<b><span style="color: #990000; font-size: large;">The Market is Still Strong</span></b></div>
<div style="text-align: center;">
<b><span style="color: #990000; font-size: large;"><br /></span></b></div>
<div style="text-align: left;">
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"> The
market continues to be on fire.<span style="mso-spacerun: yes;"> </span>The
increase in buyer’s interest because of the covid pandemic has created a
marketplace where homes and condos are receiving multiple offers and selling
within days of becoming available.<span style="mso-spacerun: yes;"> </span>The
lake area inventory was already at all time lows, now people are standing in
line to view property as soon as it becomes available.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>In another interesting twist in the middle
of everything is a new rule by the National Association of Realtors.<span style="mso-spacerun: yes;"> </span>This was something decided on in 2019 and
each area Multiple Listing System (MLS) had until May 1, 2020 to implement
it.<span style="mso-spacerun: yes;"> </span>All new listings taken by any
Realtor member must be shared with the entire membership via the MLS system as
soon as the property is advertised in any other fashion.<span style="mso-spacerun: yes;"> </span>What this means for you as a buyer is that
you have the opportunity to see each property as it becomes available.<span style="mso-spacerun: yes;"> </span>For sellers, it means that your property is
exposed to the widest possible audience of buyers and you can obtain the best
deal.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>Of course, there is never a rule made
unless someone has behaved in a fashion to prompt it.<span style="mso-spacerun: yes;"> </span>Many agents were promoting their listings to
a select group of people in the hopes that they could work both sides of the
transaction and collect the entire commission.<span style="mso-spacerun: yes;">
</span>I don’t know how much of this occurred in the lake area but it will
certainly remove any temptation to operate in this manner while the market is
moving so quickly.<span style="mso-spacerun: yes;"> </span>To be clear, I feel a
good agent is perfectly capable of handling both sides of a transaction but I
don’t feel people should be forced into that situation.<span style="mso-spacerun: yes;"> </span>Also, I think sellers deserve the best
exposure for their property.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>What this means for my customers who
receive new listing updates is that I can now provide them with a true, timely
picture of what is available.<span style="mso-spacerun: yes;"> </span>I have a
lake area listing search on my website YourLake.com that allows you to enter
your specific criteria, view any current matching properties and immediately
receive updates as soon as a new listing is entered in MLS whether it is one of
my company listings or a cooperating broker’s listing.<span style="mso-spacerun: yes;"> </span>Happy lake home hunting and Happy 4<sup>th</sup>
of July!<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<i><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"></span>Michael Elliott has been selling real estate at the Lake of the Ozarks
since 1981.<span style="mso-spacerun: yes;"> </span>He is one of the most
respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you
would like to work with Michael in the sale or purchase of property, or have
interest in a career in real estate, contact him at 573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%; mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;"><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;">
</span>View thousands of lake area listings at </span><a href="http://www.yourlake.com/"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;">www.YourLake.com</span></a><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%;">.<span style="mso-spacerun: yes;"> </span>You can also view each months’ article, ask
questions and offer your opinion on Michael’s real estate blog, </span><a href="http://www.asthelakechurns.com/"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%; mso-bidi-font-weight: bold;">www.AsTheLakeChurns.com</span></a></i><span class="MsoHyperlink"><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 107%; mso-bidi-font-weight: bold;"><o:p></o:p></span></span></div>
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<b><span style="color: #990000; font-size: large;"></span></b>Anonymousnoreply@blogger.com1tag:blogger.com,1999:blog-2878827064457017313.post-87369465571974919062020-05-27T10:55:00.000-07:002020-05-27T11:00:14.607-07:00June Lake of the Ozarks Real Estate Update<span style="color: #cc0000; font-size: x-large;"><br /></span>
<br />
<div style="text-align: center;">
<span style="color: #cc0000; font-size: large;">The Market is Strong</span></div>
<div style="text-align: center;">
<span style="color: #cc0000; font-size: x-large;"><br /></span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"> Memorial
weekend 2020 may have been the busiest the lake has ever seen. The real estate market is an even stronger
seller’s market than thirty days ago. Homes
and condos are selling within a few days and prices keep getting higher. The
number of sales is still down due to the lack of inventory which fell even more
because home owners are delaying listing.
Some have decided not to sell, some are using their homes more during
various shut down orders across the country and some don’t want to have buyers
in their property at this time. </span><br />
<span style="font-family: arial, helvetica, sans-serif;"> </span><span style="font-family: arial, helvetica, sans-serif;">Here’s a personal example of how strong
the market has remained during the Covid-19 situation. </span><span style="font-family: arial, helvetica, sans-serif;"> </span><span style="font-family: arial, helvetica, sans-serif;">A new property became available in early
May.</span><span style="font-family: arial, helvetica, sans-serif;"> </span><span style="font-family: arial, helvetica, sans-serif;">It was a lakefront home located on
Horseshoe Bend and was priced in the upper $300’s.</span><span style="font-family: arial, helvetica, sans-serif;"> </span><span style="font-family: arial, helvetica, sans-serif;">This is currently one of the highest
sought-after price points so it does draw a large audience.</span><span style="font-family: arial, helvetica, sans-serif;"> </span><span style="font-family: arial, helvetica, sans-serif;">I scheduled an appointment and met clients at
the home since we are not currently sharing vehicles to limit exposure.</span><span style="font-family: arial, helvetica, sans-serif;"> </span><span style="font-family: arial, helvetica, sans-serif;">When I arrived, cars were lined up the
driveway and down the street with buyers waiting their turn to view the
home.</span><span style="font-family: arial, helvetica, sans-serif;"> </span><span style="font-family: arial, helvetica, sans-serif;">The home was shown about three
dozen times in the first few hours of becoming available and received twelve written
offers.</span><span style="font-family: arial, helvetica, sans-serif;"> </span><span style="font-family: arial, helvetica, sans-serif;">My buyers made a cash offer,
above list price with a fast closing and, unfortunately, did not end up with
the winning contract.</span><span style="font-family: arial, helvetica, sans-serif;"> </span><br />
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<span style="line-height: 107%;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="mso-spacerun: yes;"> </span>If you are considering selling, there are
a huge amount of buyers who are ready and capable.<span style="mso-spacerun: yes;"> </span>We can work with you remotely if you prefer
not to travel to the lake right now.<span style="mso-spacerun: yes;">
</span>Agents and buyers are being very considerate and aware of the need to
protect each other and be respectful not to touch or handle items inside a
home.<span style="mso-spacerun: yes;"> </span>I feel the strong buying trend will
continue over the summer.<span style="mso-spacerun: yes;"> </span>New listings
have been down over fifty percent and I think we will see inventory levels
start to rise some in June, but I feel new inventory will continue to be lower
than previous years for several months.<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="line-height: 107%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;">
</span>Michael Elliott has been selling real estate at the Lake of the Ozarks
since 1981.<span style="mso-spacerun: yes;"> </span>He is one of the most
respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you
would like to work with Michael in the sale or purchase of property, or have
interest in a career in real estate, contact him at 573.365.SOLD or </span><a href="mailto:cme@yourlake.com"><span style="line-height: 107%;">cme@yourlake.com</span></a><span style="line-height: 107%;"><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;">
</span>View thousands of lake area listings at </span><a href="http://www.yourlake.com/"><span style="line-height: 107%;">www.YourLake.com</span></a><span style="line-height: 107%;">.<span style="mso-spacerun: yes;"> </span>You can also view each months’ article, ask
questions and offer your opinion on Michael’s real estate blog, </span><a href="http://www.asthelakechurns.com/"><span style="line-height: 107%;">www.AsTheLakeChurns.com</span></a><span class="MsoHyperlink"><span style="line-height: 107%;"><o:p></o:p></span></span></span></div>
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<br />Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-15390352480223191302020-04-29T08:42:00.001-07:002020-04-29T08:42:36.450-07:00May Lake of the Ozarks Real Estate Update<div style="text-align: center;">
<br /></div>
<div style="text-align: center;">
<i><span style="color: #990000; font-size: x-large;">Coronavirus Impacts Lake</span></i></div>
<br />
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>First quarter
sales volume and closed transaction reports look good on the surface but a
deeper review reveals the harsh impact Covid 19 has had on the Spring lake area
real estate market.<span style="mso-spacerun: yes;"> </span>First quarter
closings of lakefront homes increased 12.9 percent compared to 2019 and
increased 25.8 percent in sales volume and 11.4 percent increase in average
sales price.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>New listings were down by 8.4 percent and
days on the market decreased 9.3 percent.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>A closer look at
these numbers along with compiling additional reports from April data shows a
considerable decrease in 2020 year to date lakefront home sales.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>The year started
strong and transactions increased in each of the first three months but you
will see that each month that increase lessened.<span style="mso-spacerun: yes;"> </span>We were on track to have a record Spring
market.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>January 2020 showed
an increase in sales compared to January 2019.<span style="mso-spacerun: yes;">
</span>Closed transactions increased 28.6 percent, total dollar volume
increased 62.3 percent and the average sales price increased 25.25 percent.<span style="mso-spacerun: yes;"> </span>New listings decreased 14.6 percent and days
on the market averaged 5 percent less than in 2019.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>February 2020
Closed transactions increased 12.9 percent, total dollar volume increased
22.9<span style="mso-spacerun: yes;"> </span>percent and the average sales price
increased 8.9 percent.<span style="mso-spacerun: yes;"> </span>New listings
increased 20.8 percent and days on the market averaged 16.7 percent more than
in 2019.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>March 2020 closed
transactions increased 3.4 percent, total dollar volume increased 8.8 percent
and the average sales price increased 5.2 percent.<span style="mso-spacerun: yes;"> </span>New listings decreased 23.7 percent and days
on the market averaged 30 percent less than in 2019.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>Beginning
mid-March we began to see several buyers and sellers cancel pending
transactions.<span style="mso-spacerun: yes;"> </span>This continued to occur
over the last half of March and into the first week of April.<span style="mso-spacerun: yes;"> </span>Most of these deals would have been scheduled
to close in April and the first half of May.<span style="mso-spacerun: yes;">
</span>Many of the homes that had buyer cancellation are already under contract
again; but it created a considerable gap in closed sales.<span style="mso-spacerun: yes;"> </span>The large decrease in new listings has also
suppressed sales.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Breaking down the sales data into weekly
increments beginning mid-March really shows when the effects of Covid-19 and
the protective measures start to kick in.<span style="mso-spacerun: yes;">
</span><o:p></o:p></div>
<div class="MsoNormal">
March 15-21, 2020 vs. 2019:<span style="mso-spacerun: yes;">
</span>21 percent increase in closed transactions, 66 percent increase in
average sales price and 101 percent increase in closed sales volume.<o:p></o:p></div>
<div class="MsoNormal">
March 22-28, 2020 vs. 2019: 25 percent increase in closed
transactions, 2 percent increase in average sales price and 27.6 percent
increase in closed sales volume.<o:p></o:p></div>
<div class="MsoNormal">
March 29-April 4, 2020 vs. 2019: 18 percent increase in
closed transactions, 23 percent decrease in average sales price and 8.7 percent
decrease in closed sales volume.<o:p></o:p></div>
<div class="MsoNormal">
April 5-11, 2020 vs. 2019: 11 percent increase in closed
transactions, 15 percent increase in average sales price and 28.5 percent
increase in sales volume.<o:p></o:p></div>
<div class="MsoNormal">
April 12-18, 2020 vs. 2019: 42 percent decrease in closed
transactions, 35.6 percent decrease in average sales price and 62.7 percent
decrease in closed sales volume.<o:p></o:p></div>
<div class="MsoNormal">
April 19-26, 2020 vs. 2019: 71 percent decrease in closed
transactions, 5.9 percent decrease in average sales price and 72.2 percent
decrease in closed sales volume.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>April 2020 vs.
2019 shows that closed transactions decreased 35.2 percent, total dollar volume
decreased 45.79 percent and the average sales price decreased 16.3
percent.<span style="mso-spacerun: yes;"> </span>New listings decreased 55.9
percent and days on the market averaged 24.6 percent less than in 2019.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>The year to date
2020 vs. 2019 lakefront homes sales as of April 27<sup>th</sup> show a decrease
of 4.6 percent in closed transactions, 3.8 percent decrease in total sales
volume and the average sales price is changed less than 1 percent.<span style="mso-spacerun: yes;"> </span>Average days on the market has shortened by
almost 16 percent and new listings decreased 23.3 percent. <o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>Buyer activity
and interest is extremely strong.<span style="mso-spacerun: yes;"> </span>I am
also seeing an uptick in the luxury and half a million an up market.<span style="mso-spacerun: yes;"> </span>In the past seven days, I have successfully
negotiated contracts on two $1 million plus homes and two $500,000 plus
homes.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>I am currently negotiating on a $950,000 home.<span style="mso-spacerun: yes;"> </span>Calls and information requests are up, and I
feel optimistic that the market is already correcting itself and will come back
even stronger as restrictions are lifted.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>There are
currently 338 lakefront homes on the market. 132 homes are priced at $500,000
and up, 119 are in the $250k to $500k range and 87 are priced under $250k.<span style="mso-spacerun: yes;"> </span>An additional 92 lakefront homes are under
contract.<span style="mso-spacerun: yes;"> </span>24 homes are price at $500k
and up, 41 are in the 250k to $500k range and 27 are priced under $250k.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>I’ve concentrated
on lakefront home sales because they tend to show the clearest picture of what
is going on with the second home market but sales across all property types
have followed closely.<span style="mso-spacerun: yes;"> </span><o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>A brief synopsis
of condo sales shows the same patterns.<span style="mso-spacerun: yes;">
</span>April 2020 Closed transactions were down 46 percent vs. 2019 and YTD had
decreased by 28.9 percent.<span style="mso-spacerun: yes;"> </span>Total sales
volume for April decreased 43.1 percent but just 3.4 percent YTD.<span style="mso-spacerun: yes;"> </span>April 2020 vs. 2019 average sales price
increased 5.19 percent month over month and 5.76 percent YTD.<span style="mso-spacerun: yes;"> </span>Days on the market decreased 6.8 percent in April
2020 vs. 2019 and YTD the days on the market decreased 14.23 percent.<span style="mso-spacerun: yes;"> </span>There are currently 249 active condo listings
and 83 condo listings under contract.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>Second
homeowners have migrated to the lake in droves during the stay at home
orders.<span style="mso-spacerun: yes;"> </span>Many families are getting to
experience a new time at the lake when work and extracurricular activities
normally prevent them from spending much time in their happy place.<span style="mso-spacerun: yes;"> </span>I have seen an abundance of traffic at
subdivisions and condo projects all over the lake area with some development’s
parking as full as I usually see in July.<span style="mso-spacerun: yes;">
</span>When the sun shines and we are blessed with warm weather, the lake looks
like a summer weekend on a weekday in April.<span style="mso-spacerun: yes;">
</span>I think the Covid-19 outbreak will increase interest in vacation homes
in more secluded area.<span style="mso-spacerun: yes;"> </span>Families will be
reassessing values and time spent together and seeking out places that they can
enjoy in case of future shelter orders where they feel safer and more removed.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>I know I am
biased having grown up at Lake of the Ozarks, but I feel we have the best
community to shelter in during any life event.<span style="mso-spacerun: yes;">
</span>The kindness and support I have seen from the residents (full and part
time) is unsurpassed.<span style="mso-spacerun: yes;"> </span>Business owners
have quickly adapted in order to protect employees and customers, restaurants
switched to curb and dockside services to keep paychecks going to their
employees.<span style="mso-spacerun: yes;"> </span>Volunteers at food banks
across the lake have continued to show up and help keep food on the tables of
so many in need of assistance.<span style="mso-spacerun: yes;"> </span><o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>We took a pretty
good hit in April especially if you factor in the upward trajectory in sales
that were trending the first three months of 2020.<span style="mso-spacerun: yes;"> </span>This was driven in part by cancelled sales
due to the unknown personal and financial impact of the coming months. It was
also driven by an already limited inventory seeing new listings reduced by more
than 50 percent.<span style="mso-spacerun: yes;"> </span>Unless we have major
setbacks in the next few months, I predict that the upward trend will reappear
and be confirmed by May and June sales stats.<span style="mso-spacerun: yes;">
</span>One unknown factor is what the impact will be on current owners who had
intended to sell in the Spring of 2020.<span style="mso-spacerun: yes;">
</span>I know some are now reconsidering keeping their lake home as a retreat.<span style="mso-spacerun: yes;"> </span>Inventory is going to continue to be a huge
factor at Lake of the Ozarks.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>C. Michael
Elliott and Associates is a privately owned, boutique office with a great group
of knowledgeable, topnotch agents and staff that will work in your best interest.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>There
are some great real estate agents at the Lake, but you won’t find any better
than the agents I work with daily.<span style="mso-spacerun: yes;">
</span>Please give us a call if you are considering buying or selling. We’ll
explain our services in detail and you can decide if we are a good fit for you.<o:p></o:p></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>Michael Elliott
has been selling real estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;"> </span>He is one of the most respected brokers in
the area.<span style="mso-spacerun: yes;"> </span>Feel free to contact him if
you would like to work with him,<span style="mso-spacerun: yes;"> </span>have a
real estate question or have interest in a career in real estate.<span style="mso-spacerun: yes;"> </span>573.365.SOLD or <a href="mailto:cme@yourlake.com"><span style="mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span>Sales
data obtained from the Lake of the Ozarks MLS for 2019 and 2020.<o:p></o:p></div>
<div class="MsoNormal">
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<br />Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-83445912461694862512020-03-31T11:45:00.000-07:002020-03-31T11:45:04.888-07:00April Lake of the Ozarks Real Estate Update<h2 style="text-align: center;">
<span style="color: #cc0000;"> </span></h2>
<h2 style="text-align: center;">
<span style="font-size: x-large;"><span style="color: #cc0000;">Coronavirus Impacts Lake</span></span></h2>
<h2 style="text-align: left;">
<span style="color: #cc0000;"> </span></h2>
<h2 style="text-align: center;">
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<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span style="mso-spacerun: yes;"> <span style="font-weight: normal;"> </span></span><span style="font-size: large;"><span style="font-weight: normal;">Due to the uncertainty of how long
Covid-19 will be affecting our nation’s health and economy, we have seen an
increase in the number of contracts across the lake area and including all
property types falling through the last two weeks of March.<span> </span>At the same time, properties continue to go
under contract at a good rate and closings are happening daily.<span> </span>I have not seen an unusual increase in new
properties on the market.<span> </span>My office is
talking with buyers and sellers every day at about the same rate.<span> </span>We are handling more initial home viewings
via video and in person showings have dropped considerably.</span></span></div>
</h2>
<div style="text-align: justify;">
<span style="font-size: large;"><span style="font-weight: normal;">
</span></span></div>
<h2 style="text-align: justify;">
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-size: large;"><span style="font-weight: normal;"><span> </span>Currently, my staff and agents are working
primarily from home.<span> </span>We are screening
everyone prior to physical meetings. When viewing homes, my clients and I have
been taking separate vehicles and meeting at the properties.<span> </span><span> </span>I
unlock and open doors and turn on lights throughout, wear gloves and ask that
everyone refrain from touching anything in the home.<span> </span>I also hand sanitize before and after and maintain
a physical distance of about 10 or more feet in order to protect my clients and
my family.<span> </span><span> </span>At closings, title companies are allowing only
the buyer or seller into their offices and are encouraging anyone that can
close electronically to do so.</span></span></div>
</h2>
<div style="text-align: justify;">
<span style="font-size: large;"><span style="font-weight: normal;">
</span></span></div>
<h2 style="text-align: justify;">
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-size: large;"><span style="font-weight: normal;"><span> </span>With school and extracurricular activities
suspended, plus so many people working from home, the lake area has seen the
early arrival of second homeowners taking advantage of their lake homes. With
other areas of the country experiencing high infection rates, people are also
booking vacation rentals and coming to the lake to shelter in a much less
populated area.<span> </span><span> </span>The lake itself has seemed to respond with
beautiful Spring days and perfect boating weather.<span> </span>It feels more like June than March
lately.<span> </span>I don’t have any hard data to
share but, anecdotally, I have spoken with grocery providers who say the supply
orders are closer to summer numbers than amounts they usually experience this
time of year.<span> </span></span></span></div>
</h2>
<div style="text-align: justify;">
<span style="font-size: large;"><span style="font-weight: normal;">
</span></span></div>
<h2 style="text-align: justify;">
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-size: large;"><span style="font-weight: normal;"><span> </span>Area restaurants have switched to curbside
and dockside service.<span> </span>Owners are doing
all they can to continue to provide their employees with income and many are
also assisting them with food for their families.<span> </span>At least one local distillery has switched to
making hand sanitizer – and is giving it away at no charge.<span> </span>Local food pantries have adjusted their procedures,
but volunteers are still helping keep lake area families fed.<span> </span>Keep them in mind if you are fortunate enough
to be able to help with financial donations.<span>
</span><span> </span>There is no other community I
would rather be a part of in a crisis.</span></span></div>
</h2>
<div style="text-align: justify;">
<span style="font-size: large;"><span style="font-weight: normal;">
</span></span></div>
<h2 style="text-align: justify;">
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-size: large;"><span style="font-weight: normal;"><span> </span>The Lake of the Ozarks is both safe haven
and happy place for so many people across the country.<span> </span>At this point, the market is holding its own
and I feel good about the outlook of where we’re going to be in three to six
months.<span> </span>I think we will see a similar
effect to what happened after 9/11.<span> </span>Families
pull together and take stock of what is most important to them.<span> </span>The lake is a safe and enjoyable place to
create lifetime memories and it’s a solid investment.<span> </span></span></span></div>
</h2>
<div style="text-align: justify;">
<span style="font-size: large;"><span style="font-weight: normal;">
</span></span></div>
<h2 style="text-align: justify;">
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-size: large;"><span style="font-weight: normal;"><span> </span>I hope you are well and safe.<span> </span>It will be interesting to see how much or how
little has changed when I see you here next month.</span></span></div>
</h2>
<div style="text-align: justify;">
<span style="font-size: large;"><span style="font-weight: normal;">
</span></span></div>
<h2 style="text-align: justify;">
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-size: large;"><span style="font-weight: normal;"><span> </span><span>
</span>Michael Elliott has been selling real estate at the Lake of the Ozarks
since 1981.<span> </span>He is one of the most
respected brokers in the area.<span> </span>If you
would like to work with Michael in the sale or purchase of property, or have
interest in a career in real estate, contact him at 573.365.SOLD or <a href="mailto:cme@yourlake.com"><span>cme@yourlake.com</span></a><span> </span>or stop by C. Michael Elliott & Associates,
3738 Osage Beach Parkway.<span> </span>View thousands
of lake area listings at <a href="http://www.yourlake.com/">www.YourLake.com</a>.<span> </span>You can also view each months’ article, ask
questions and offer your opinion on Michael’s real estate blog, <a href="http://www.asthelakechurns.com/"><span>www.AsTheLakeChurns.com</span></a></span></span></div>
</h2>
<div style="text-align: justify;">
<span style="font-size: large;"><span style="font-weight: normal;">
</span></span></div>
<h2 style="text-align: justify;">
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-size: large;"><span style="font-weight: normal;"><span> </span></span></span></div>
</h2>
<div style="text-align: justify;">
<span style="font-size: large;"><span style="font-weight: normal;">
</span></span></div>
<h2 style="text-align: center;">
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
</h2>
Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-44575468008944162392020-02-25T13:06:00.001-08:002020-02-25T13:06:52.716-08:00March Lake of the Ozarks Real Estate Update<br />
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b>Septic
Systems:<span style="mso-spacerun: yes;"> </span>Sellers Be Aware and Buyers
Beware</b><o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-spacerun: yes;"> </span>In the past twenty years there has been a
lot of progress with central sewer systems in the lake area, but most homes are
still on private, on-site septic systems.<span style="mso-spacerun: yes;">
</span>Many of the systems currently in use were installed in the 1980’s and
are failing at a pretty rapid pace.<span style="mso-spacerun: yes;"> </span><o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-spacerun: yes;"> </span>Most private systems in the lake area
consist of a tank and lateral lines.<span style="mso-spacerun: yes;">
</span>Many of the tanks are aerated via an electrical motor.<span style="mso-spacerun: yes;"> </span>Waste from a home drains into the tank, an
aerated system churns the waste helping to break down any solids then liquid
effluence exits from the top level of the tank and into the lateral
fields.<span style="mso-spacerun: yes;"> </span>Lateral fields are pipes that
extend out and allow the liquid to drain via holes all along the pipe then flow
into the ground.<span style="mso-spacerun: yes;"> </span>The ground area beneath
these pipes should be lined with gravel in order to allow the liquid to seep
into the ground evenly as opposed to ending up making a puddle in your
yard.<span style="mso-spacerun: yes;"> </span><o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-spacerun: yes;"> </span>During inspection, the tank is opened to
assess the condition of the tank, how full the tank is and how much sludge it
contains.<span style="mso-spacerun: yes;"> </span>If it is an aerated system,
they check the motor operation.<span style="mso-spacerun: yes;"> </span>The
inspector runs water inside your home to be sure the system is handling the
amount of flow the home would reasonably produce based on size.<span style="mso-spacerun: yes;"> </span>They will check the tank to see if it is
filling up and how quickly it drains into the lateral lines.<span style="mso-spacerun: yes;"> </span>They will also add dye to locate where the
water ultimately drains from the lateral lines.<span style="mso-spacerun: yes;">
</span>This will tell them if the lines are draining and if the drainage is
going to the proper location.<span style="mso-spacerun: yes;"> </span>If the
lines are not draining, the most likely issue is that the lateral lines are
plugged up.<o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-spacerun: yes;"> </span>The best way to keep your existing system
from failure is maintenance.<span style="mso-spacerun: yes;"> </span>Many times,
when an aerator motor stops working an owner will have it removed.<span style="mso-spacerun: yes;"> </span>While the motor is not absolutely necessary
for the septic tank to function, it will help to keep your system working well
and is required by some homeowner associations and governing bodies.<span style="mso-spacerun: yes;"> </span>Another way to help your system is by
limiting the amount of garbage you wash down your sinks.<span style="mso-spacerun: yes;"> </span>All solids cause build up in the tank but
fatty foods are especially bad for your system.<span style="mso-spacerun: yes;">
</span>Even if you are on a central sewer system, if you have a lift station
that pumps your waste to the sewer connection, fatty foods will cause you major
issues in a short amount of time.<span style="mso-spacerun: yes;"> </span>It is
also recommended that you have your tank pumped every three to five years.<span style="mso-spacerun: yes;"> </span><o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-spacerun: yes;"> </span>In the lake area, each counties’
Department of Health oversees on-site septic systems with less than 3,000
gallons of flow per day.<span style="mso-spacerun: yes;"> </span>Larger scale
systems are governed by the Missouri Department of Natural Resources.<span style="mso-spacerun: yes;"> </span>Septic inspectors, repair services and
installers must be certified.<span style="mso-spacerun: yes;"> </span>When
septic system service providers encounter a failing system, they must notify
the local Department of Health.<span style="mso-spacerun: yes;"> </span>The
property owner is contacted and informed that they must correct the issue and
given a timeframe for completion.<span style="mso-spacerun: yes;"> </span><o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-spacerun: yes;"> </span>I have encountered two failing systems in
just the past two weeks while working with buyers during the inspection
process.<span style="mso-spacerun: yes;"> </span>The seller of one of the homes
insisted they did not have a problem and the home has since been put back on
the market.<span style="mso-spacerun: yes;"> </span>Per the state certified
septic installer, the septic of that home has failed completely and is not a
candidate for repair.<span style="mso-spacerun: yes;"> </span>Due to new
regulations, designed to keep our lake clean, an engineered system is required,
and replacement will cost from $50,000 to $75,000 because the lakefront lot is
not large enough to handle a traditional system.<span style="mso-spacerun: yes;"> </span>Any time you are buying a property, be sure
to use a qualified inspector to thoroughly check the septic.<span style="mso-spacerun: yes;"> </span>I also advise you to contact the local Department
of Health and inquire whether the system has been reported.<o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-spacerun: yes;"> </span><i>Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;">
</span>He is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with Michael in the
sale or purchase of property, or have interest in a career in real estate, contact
him at 573.365.SOLD or <a href="mailto:cme@yourlake.com"><span style="mso-bidi-font-weight: bold;">cme@yourlake.com</span></a><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;">
</span>View thousands of lake area listings at <a href="http://www.yourlake.com/">www.YourLake.com</a>.
<span style="mso-spacerun: yes;"> </span>You can also view each months’ article,
ask questions and offer your opinion on Michael’s real estate blog, <a href="http://www.asthelakechurns.com/"><span style="mso-bidi-font-weight: bold;">www.AsTheLakeChurns.com</span></a></i><o:p></o:p></div>
<br />Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-53814494289463837542020-01-28T10:00:00.000-08:002020-01-28T10:00:43.754-08:00February Lake of the Ozarks Real Estate Update<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-sFhxpRa8zS4/XjB2d6OvLsI/AAAAAAAAANY/VNMegtN7x-4BjYM-c5_spl_NnbHBwnm1wCLcBGAsYHQ/s1600/Feb%2BBiz%2BJournal.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="617" height="640" src="https://1.bp.blogspot.com/-sFhxpRa8zS4/XjB2d6OvLsI/AAAAAAAAANY/VNMegtN7x-4BjYM-c5_spl_NnbHBwnm1wCLcBGAsYHQ/s640/Feb%2BBiz%2BJournal.jpg" width="246" /></a></div>
<br />Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-77330679390137267582019-12-31T09:24:00.000-08:002019-12-31T09:26:54.556-08:00January Lake of the Ozarks Real Estate Update<div style="text-align: center;">
<b><span style="font-size: large;">The Decade in Review</span></b></div>
<div style="text-align: center;">
<b><br /></b></div>
<div style="text-align: center;">
</div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span><span style="background-color: white;">At the end of this decade, I’ve researched the lake
real estate market stats to show how the market looked in 2019 stacked up
against 2010.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="background-color: white;"><span style="mso-spacerun: yes;"> </span>Sales of lakefront homes increased 64.7
percent in the past year compared to ten years ago while 2019 lakefront home
sales had a slight decrease of 1.6 percent from 2018.<span style="mso-spacerun: yes;"> </span>The 2010 median sales price was $230,000 and
in 2019 was $295,000 or an increase of 28 percent.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="background-color: white;"><span style="mso-spacerun: yes;"> </span>Sales of non-lakefront homes increased
63.7 percent over the decade and decreased from 2018 to 2019 by 2.4 percent.<span style="mso-spacerun: yes;"> </span>The 2010 median sales price for non-lakefront
homes was $90,000 and in 2019 was $149,000 or an increase of 65 percent.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="background-color: white;"><span style="mso-spacerun: yes;"> </span>Condominium units saw the largest increase
of residential sales since 2010 with an 88.9% increase in 2019 and sales from
2018 to 2019 increased by almost one percent.<span style="mso-spacerun: yes;">
</span>The 2010 median condo sales price was $153,000 and in 2019 was $163,000
for an increase of 6.5%.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="background-color: white;"><span style="mso-spacerun: yes;"> </span>Reviewing the ten-year data, I feel the
overall market has experienced a solid, steady increase.<span style="mso-spacerun: yes;"> </span>Median sales prices have increased less than ten
percent per year and total number of sales has increased less than ten percent
per year for residential properties.<span style="mso-spacerun: yes;"> </span>I
expect 2020 to maintain the same solid growth and I also believe that inventory
will continue to be tight.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="background-color: white;"><span style="mso-spacerun: yes;"> </span>Residential properties will still have a
short time on the market as long as they are not grossly overpriced, and
sellers will continue to enjoy having the needle on their side while the
Seller’s Market continues.<span style="mso-spacerun: yes;"> </span>Even though
sellers have more advantage, you can see from the ten-year data that Lake of
the Ozarks real estate is still an excellent investment.<span style="mso-spacerun: yes;"> </span>If you are still undecided on whether to
purchase in 2020, take time to visit with myself or one of my agents.<span style="mso-spacerun: yes;"> </span>We’d be happy to give you a more in-depth
market report on the specific property type, area and price range you are
considering.<span style="mso-spacerun: yes;"> </span>There are still good buys
coming on the market weekly and we’d be happy to help you decide how best to
maximize your dollar and create the best future investment return.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<span style="background-color: white;"><span style="mso-spacerun: yes;"> </span>I have compiled this data from the Lake of
the Ozarks Board of Realtors’ Multiple Listing System for the time frame
beginning January 1, 2010 and ending December 30, 2019.<o:p></o:p></span></div>
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<span style="background-color: white;"><span style="mso-spacerun: yes;"> </span>Michael Elliott has been selling real
estate at the Lake of the Ozarks since 1981.<span style="mso-spacerun: yes;">
</span>He is one of the most respected brokers in the area.<span style="mso-spacerun: yes;"> </span>If you would like to work with Michael in the
sale or purchase of property, or have interest in a career in real estate, contact
him at 573.365.SOLD or <a href="mailto:cme@yourlake.com">cme@yourlake.com</a><span style="mso-spacerun: yes;"> </span>or stop by C.
Michael Elliott & Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;"> </span>View thousands of lake area listings at <a href="http://www.yourlake.com/">www.YourLake.com</a>.<span style="mso-spacerun: yes;"> </span>You can also
view each months’ article, ask questions and offer your opinion on Michael’s
real estate blog, <a href="http://www.asthelakechurns.com/">www.AsTheLakeChurns.com</a><o:p></o:p></span></div>
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<b></b>Anonymousnoreply@blogger.com0tag:blogger.com,1999:blog-2878827064457017313.post-7496095258816093942019-11-26T08:20:00.003-08:002019-11-26T08:20:45.529-08:00December Lake of the Ozarks Real Estate Update<div style="text-align: center;">
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<b><span style="color: #806000; font-family: "Bickley Script"; font-size: 36.0pt; line-height: 118%; mso-ligatures: none;">Fool’s Gold :<o:p></o:p></span></b></div>
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<b><span style="color: #1f3864; font-family: "Times New Roman", serif; line-height: 118%;">Name
g</span></b><b><span style="color: #04294b; font-family: "Times New Roman", serif; line-height: 118%;">iven to iron pyrites, which looks a little
like gold but is worthless<span style="font-size: 12pt;"><o:p></o:p></span></span></b></div>
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<span style="color: #04294b; font-family: "Times New Roman",serif; font-size: 12.0pt; line-height: 118%; mso-ligatures: none;">The ‘biggest liar gets the listing’ is a
common thought among real estate agents.<span style="mso-spacerun: yes;">
</span>In order to gain a listing, agents have an incentive to inflate a home’s
value.<span style="mso-spacerun: yes;"> </span>Sellers often think their home is
worth more than market value, and every homeowner wants to receive the highest
price possible, who wouldn’t?<o:p></o:p></span></div>
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<span style="color: #04294b; font-family: "Times New Roman",serif; font-size: 12.0pt; line-height: 116%; mso-ligatures: none;">Unfortunately, when a homeowner interviews
agents as part of the listing process, they tend to gravitate toward the one
who agrees to the highest price necessary to get the sellers to sign.<span style="mso-spacerun: yes;"> </span>Sellers are in for a harsh reality when
their home is overpriced.<span style="mso-spacerun: yes;"> </span>It will linger
on the market and sell for less than it would have if properly priced and
marketed correctly from the onset.<o:p></o:p></span></div>
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<span style="color: #04294b; font-family: "Times New Roman",serif; font-size: 12.0pt; line-height: 116%; mso-ligatures: none;">You should always hire an agent and brokerage
that will put <u>your</u> best interests above “getting the listing”.<span style="mso-spacerun: yes;"> </span>Armed with an honest pricing evaluation and
customized marketing plan; you’ll attract the highest number of qualified
buyers.<span style="mso-spacerun: yes;"> </span>You’ll also create the greatest
opportunity to sell your home for top dollar.<o:p></o:p></span></div>
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<span style="color: #04294b; font-family: "Times New Roman",serif; font-size: 12.0pt; line-height: 116%; mso-ligatures: none;">When interviewing an agent, focus on their
track record, reputation in the community, marketing plan, negotiating skills
and wide range of services necessary to handle the sale of your home.<span style="mso-spacerun: yes;"> </span>The designated broker is who your listing
contract is really with, so check out the broker behind each agent.<span style="mso-spacerun: yes;"> </span>Choose professionals who are dedicated to
real estate as a career and who reside full time, year-round at Lake of the
Ozarks.<span style="mso-spacerun: yes;"> </span>We can handle a great deal via
technology but real estate still requires showing up in real time and being
available when clients and customers need assistance.<o:p></o:p></span></div>
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<span style="color: #04294b; font-family: "Times New Roman",serif; font-size: 12.0pt; line-height: 116%; mso-ligatures: none;">Our limited, first-class inventory enables us
to provide personal service to each client.<span style="mso-spacerun: yes;">
</span>Priced correctly and marketed expansively, our listings are only on the
market for a short time.<o:p></o:p></span></div>
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<span style="color: #04294b; font-family: "Times New Roman",serif; font-size: 12.0pt; line-height: 116%; mso-ligatures: none;">For almost 40 years, C. Michael Elliott &
Associates have done things the right way.<span style="mso-spacerun: yes;">
</span>We will present a strategy for pricing and the best way to debut your
home into the marketplace. If you are preparing to sell, call us for an
interview appointment before you make any decisions about listing your
property.<o:p></o:p></span></div>
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<span style="color: #04294b; font-family: "Times New Roman",serif; font-size: 11.0pt; line-height: 118%; mso-ligatures: none;"><span style="mso-spacerun: yes;"> </span></span><span style="font-size: 11.0pt; line-height: 118%;"><span style="mso-spacerun: yes;"> </span></span><i><span style="font-family: "Times New Roman", serif; line-height: 118%;">Michael
Elliott has been selling real estate at the Lake of the Ozarks since 1981. He is one of the most respected brokers in
the area. If you would like to work with
Michael in the sale or purchase of property, or have interest in a career in
real estate, contact him at 573.365.SOLD or </span></i><span style="line-height: 118%;"><a href="mailto:cme@yourlake.com"><i><span style="font-family: "Times New Roman",serif; mso-bidi-font-weight: bold;">cme@yourlake.com</span></i></a></span><i><span style="font-family: "Times New Roman", serif; line-height: 118%;"><span style="mso-spacerun: yes;"> </span>or stop by C. Michael Elliott &
Associates, 3738 Osage Beach Parkway.<span style="mso-spacerun: yes;">
</span>View thousands of lake area listings at </span></i><span style="line-height: 118%;"><a href="http://www.yourlake.com/"><i><span style="font-family: "Times New Roman",serif;">www.YourLake.com</span></i></a></span><i><span style="font-family: "Times New Roman", serif; line-height: 118%;">.<span style="mso-spacerun: yes;"> </span>You can also view each months’ article, ask
questions and offer your opinion on Michael’s real estate blog, </span></i><span style="line-height: 118%;"><a href="http://www.asthelakechurns.com/"><i><span style="font-family: "Times New Roman",serif; mso-bidi-font-weight: bold;">www.AsTheLakeChurns.com</span></i></a></span><i><span style="font-family: "Times New Roman", serif; line-height: 118%;"><o:p></o:p></span></i></div>
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