Thursday, January 2, 2014

January Lake of the Ozarks Real Estate Update

Recent reports show that both Lake Ozark and Osage Beach’s sales tax revenue is up this year. Lake Ozark’s revenue has increased by 26% and Osage Beach is up 1.6% over 2012. New retail developments in both cities have played a large part in this uptick and in Osage Beach, Prewitt’s Point and Dierbergs generated $510,000 in tax revenue. Nationally, homes values roses 7.9% over last year. This is the 2nd yearly gain in a row and in 2012 and 2013 homes have gained back about 44% of the total value lost from 2007 through 2011 when values decreased each year. Locally, home sales continue to increase in numbers and value. A total of 1,462 lake area homes have sold as of December 20, 2013. This is an increase of 7.1% over 2012 sales of the same time frame. Data gathered from Lake of the Ozarks MLS for all dates noted. Broken down by property type, here’s an overview of how the sales shook out:
I recently responded to a person who posted a request for advice via an online real estate forum. Following is the question along with my response. Question: What do new house buyers look for in their real estate Agent? Does personality really matter? Answer: Buyers should look for an agent with experience, knowledge of the area they are purchasing in, knowledge of the real estate process, good negotiation skills, honesty and integrity, a good reputation among the community, fellow agents and previous clients, patience and the time available to work with them based on their needs. Personality does matter; a buyer should feel at ease with an agent as they will be spending a great deal of time together. Their agent will also be working with other agents, lenders, inspectors, title companies etc.,so a good personality along with the aforementioned traits will benefit the buyer when their agent deals with other people on their behalf. If you have a question regarding real estate, please feel free to call, email, or post a message on my blog. I’ll get back to you promptly. If you would like a detailed sales report and value for your specific property type or neighborhood, or would like information on the best buys at the lake, contact C. Michael Elliott & Associates at 573.365.SOLD or You can view thousands of lake area listings with photos and virtual tours at You can also log your opinions and ask questions on Michael’s real estate blog,