Postcards from the Lake

Archive for the 'Market Trends' Category

Foreclosure Lists for Lake of the Ozarks

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Author: | April 9th, 2010
Categories: Market Trends, Real Estate News
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USDA funding to end April 10

Funding for the most popular loan package for first-time homebuyers has been depleted, it was announced late last week.  No additional funding is expected unless Congress intervenes.  And given the current economic climate,  Congressional intervention seems unlikely.

This loss of funding,  along with the expected interest rate increase in April,  will make it much harder for young homebuyers to qualify for their first home.

Other than conventional financing, an option that remains available to them is FHA  – still offering  96.5% loans.  Many local banks have chosen not to offer this route of financing due to the much longer and more complicated approval process.    It remains to be seen whether or not that will change.

Still, with the credit markets opening as they have been in recent months, I look for some sort of vehicle to be put in place to fill the hole left by the departure of USDA financing.   It will be interesting to see what evolves in the coming weeks and months.

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Author: | March 15th, 2010
Categories: Market Trends, Real Estate News
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First-time homebuyer tax credit to be extended

Homeowners Wanting to Move-Up Also to Receive A Tax Credit

After passing 98-0 in the Senate, H.R. 3548 is expected to pass in the House by week’s end, and signed by the President.

In addition to extending the current $8000 tax credit for first-time homebuyers who are under contract by April 30, 2010; the bill also allows up to $6500 tax credit to buyers who have owned their existing home for at least 5 years, and who wish to buy another home as their primary residence.

This credit will be available for the purchase of primary residences under $800,000.  The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000.  The credit will be further extended for members of the military serving at least 90 days outside the country for an additional year.

This is such welcomed news for the Lake of the Ozarks region.  Even though vacation homes are exempt, this additional credit will no doubt help existing homeowners make the move they’ve long wanted to make, but couldn’t - due to the depressed market.

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Author: | November 5th, 2009
Categories: Market Trends, Real Estate News
2 Comments

Camdenton Real Estate Market Report

Sales of Single Family Residences Rise For 2nd Straight Month

A snapshot taken of the market activity for Camdenton home sales in recent months gives rise to optimism.  The number of home sales in Sept and Oct show improvement over the extemely disappointing summer sales season.   Many first-time homebuyers hoping to take advantage of the $8000 tax credit currently scheduled to expire in November likely account for much of the increase.  We will all, no doubt, be watching closely to see  where the real estate market goes from here as we enter what is traditionally the slowest home-buying season in  Camdenton.

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Author: | October 31st, 2009
Categories: Market Trends, Real Estate News
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Time Running Out for First-Time Home Buyers Tax Credit

$8,000 Tax Credit Scheduled to Expire Nov.30

Unless Congress acts to extend the credit before the scheduled deadline, first-time homebuyers wanting to take advantage of this credit need to act soon!   Nowadays it’s taking at least 30 days to close, so I advise putting something under contract before Nov. 1.

Realtors and contractors have been lobbying, as you might imagine, for an extension of this deadline.    There is plenty of opposition to an extension of this homebuyer’s credit, so passage is far from assured.

I have no crystal ball during these uncertain times,  but if you have a stable job, decent credit, and always wanted to own a home; it’s hard to see how you could lose by acting in time to receive this credit – particularly on homes priced under $100K.  

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Author: | September 23rd, 2009
Categories: Market Trends, Real Estate News
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Lake of the Ozarks Real Estate Market Report

Rebound in Sales of Lake Area Homes Begins

 

 For the first time this year, total monthly sales of single family  homes at the Lake of the Ozarks showed an increase over last year’s sales.

 

 

 

 As the table to the left shows, YTD sales figures still lag behind last year’s numbers. Yet this past month’s sales inspire cautious optimism for the beginning of a market recovery.

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Author: | August 7th, 2009
Categories: Market Trends
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Homebuyers in Camden County Choose USDA Loans

100% Financing Option Not Just for First Time Homebuyers

 

Camden County homebuyers who qualify for USDA home loans are discovering the benefits over FHA home loans or conventional mortgages.

• No Down Payment - Genuinely a 100% home loan
• 2% loan guarantee fee (rolled into mortgage) replaces costly PMI insurance.
• Can qualify without high credit score
• No Minimum Credit History Required
• No limits to seller concessions – seller is allowed to pay closing costs Read the rest of this entry »

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Author: | August 7th, 2009
Categories: Market Trends, Mortgage News
1 Comments

Palisades Luxury Condo in Lake of the Ozarks For Sale

Prime Real Estate Location and Panoramic Views

If you’ve been waiting for a great deal on a luxury 4-bedroom, 2-level condominium in a highly desirable location with breathtaking panoramic views;  here’s your chance. Bring your toothbrush because this well maintained beauty comes fully furnished!

The owners understand this is a buyers market and have priced this condo unit for less Read the rest of this entry »

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Author: | June 3rd, 2009
Categories: Market Trends
1 Comments

Camdenton Realtor Utilizes Online Technologies

Staying Abreast of New Online Technologies to Help My Clients Buy and Sell Homes at the Lake of the Ozarks

[youtube]http://www.youtube.com/watch?v=vJ5raac2NCw[/youtube]

 Now more than ever before, an agent needs to know how to use online technology to best represent the interests of her clients.   Online marketing, professional networking and other real estate trends change and adapt consistently –  and so does Melody!

 

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Author: | June 1st, 2009
Categories: Market Trends, Real Estate News, Video Postcards
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Homes sales report for Lake of the Ozarks

Sales of single family residences down 30% from last year

An analysis of recent sales figures reflects what we knew already: that the sales of single family homes in 2008 were down substantially from previous years.  To see it on a graph is even more impacting.

Sales of single family residences in 2008 were Read the rest of this entry »

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Author: | January 17th, 2009
Categories: Market Trends
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