2nd Quarter Lake Real Estate Update

Our agents are asked on a daily basis two questions.  “How’s the market?” and “When do you expect things to improve?”   

Our market has improved from the first quarter.  Farms and waterfront homes are the strongest markets, with commercial and condos seeing the biggest impact from a weak economy.

The sky is NOT falling.  We are seeing some positive events that continue to shape our transitional market.

For the first time in more than 2 years, we had a substantial improvement in the number of showings versus the previous year.  June 2009 had 30% more showings, than June of 2008.  Is the market changing or was this a one month abnormality?  It is hard to say at this point.  If showings continue to improve, then so will the market.

Our team continues to see a decline in the number of buyer’s leads who are beginning their search for lake property.  This decline is directly related to the overall economy in our opinion.

The strongest market continues to be homes priced under $250,000.  The weakest market is homes selling for $ 1 million or more.  There have only been 5 homes that sold in excess of $1 million in 2009.  One of those was a lease purchase. There has never been a better time to explore trade options.

To date, financing has not been an issue for buyers.  That might change with new regulations in the pipeline, as to how a dock is valued in an appraisal.

Our Buyer’s Agents have been able to find some excellent properties for their clients in this market.  If you have an interest in upgrading, now is a wonderful time to pursue those objectives.  Our Team continues to have more of our listings sell than any other agent at the lake.

New Lake of the Ozarks Visitor Information Center

 A new “Lake of the Ozarks Visitor Information Center” will be opening on June 29th. The visitor center will be located at 4681 Hwy 54 in Osage Beach across from the Outlet Mall & Happy Fisherman next to Randy’s Frozen Custard. Hours of operation will be 9 am – 7 pm and will be open 7 days a week.

Don’t Wait Any Longer – Avoid Foreclosure!

Krantz & Associates have agents that are Certified Distressed Property Experts!  Click here to find out how we work with lenders to assist sellers with short sales to avoid home foreclosure.  http://krantzproperties.com/foreclosure.aspx

Krantz Earns Prestigious Designation to Help Homeowners in Danger of Foreclosure

Melissa Krantz of Krantz & Associates RE/MAX Lake of the Ozarks has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales.  This is an invaluable expertise to offer at a time when we have seen more “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at a price that the home sells for, even though it is lower than what is owed on the property.  With plummeting property values, this can save many people from foreclosure and even bankruptcy.  More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Krantz.  “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Krantz with the CDPE designation have valuable training in short sales that offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating.  These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online.  The CDPE is the premier designation for Realtors® helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.

For more information on the CDPE designation, contact Melissa Krantz at 888-322-1802 or email melissa@krantzproperties.com.  Visit Krantz & Associates’ website at www.krantzproperties.com/blog

Lake of the Ozarks Condo Market Update 2009

The condo market is off to a slower start in 2009 as compared to 2008, however “slower” does not mean “dead”.  The facts about the condo market are that more than 100 condominium units have already sold this year, that’s almost 1 per day!    The number of units on the market have stabilized and may even be on the decline.  Buyers interested in condominiums still have great opportunities in both new and resale units.  Interest rates are at an all time low and favorable loan terms are available.  Condo’s have maintained a stable track record over the last 10 years here at the lake.  They provide the perfect solution for second home owners and primary buyers in favor of maintenance-free living at the lake.  Condo Buyers and Sellers can call us at (888)322-1802 to receive a list of condo’s currently available, or to get assistance on selling your condo.  You may also view all active condos in the lake area on our website at www.krantzproperties.com/blog

Krantz Team Cleans the Shoreline!

The Krantz team along with several other Realtors, volunteers, and Ameren UE officials participated in the annual Shoreline Clean Up on April 23rd. Ameren had anticipated a heavy load this year due to the December 2008 deadline to finish the encapsulation of docks.  Final numbers are not in for this Spring’s clean up, but they anticipate a record set for the amount collected, which will be close to 200 tons.  Since the program’s inception in 1991, more than 4 million pounds of debris has been removed from the lake.  Currently, there is more than  670 miles of adopted shoreline, being cleaned by 107 groups through the Shoreline Clean Up program.  Krantz & Associates and other RE/MAX Lake of the Ozarks agents have been involved with the clean up since the Realtors in the Bagnell Dam Board began their program in 2001. The Realtors have removed over 50 tons of debris.  The lake provides so much to its residents and visitors, it’s satisfying to contribute to the maintenance and beautification of it.  If you are interested in participating in Shoreline Clean Up or you would like to adopt your own section of shoreline to maintain, call Ameren UE at 573-365-9310.

Hammack Earns Prestigious Designation to Help Homeowners in Danger of Foreclosure

T. Marc Hammack of Krantz & Associates RE/MAX Lake of the Ozarks has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales.  This is an invaluable expertise to offer at a time when we have seen more “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at a price that the home sells for, even though it is lower than what is owed on the property.  With plummeting property values, this can save many people from foreclosure and even bankruptcy.  More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Hammack.  “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Hammack with the CDPE designation have valuable training in short sales that offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating.  These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online.  The CDPE is the premier designation for Realtors® helping homeowners in distress and handling short sales.

 “Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.

For more information on the CDPE designation, contact T. Marc Hammack at 888-322-1802 or email marc@krantzproperties.com.  Visit Krantz & Associates’ website at www.krantzproperties.com/pr

New Bill Introduced to Post E-911 Addresses on Docks

Missouri State Representative, Wayne Cooper has introduced House  Bill 657, which if passed would require boat dock owners to post their residential 911 address on docks located on lakes having at least 950 miles of shoreline.  This would allow for emergency responders to arrive at the scene of an acident on the water quicker.  This law will go into effect this August if, passed.  Four years ago, new E-911 addresses were assigned in Camden County.  According to Jr. Reiter, mapping and addressing specialist for the county, the addressing was required because in some instances, homes had been used solely for second residences and had never been assigned an actual street address.  This made it very difficult to respond to emergencies.  Mike Cleary, spokesman for Ameren UE, which governs boat docks at the Lake of the Ozarks, said the power company hasn’t taken an official position on the bill.  “In principle, as a matter of public safety, it looks like a measure we could support.  All new docks are currently required to display their E-911 addresses, but there are approximately 25,000 existing docks on the lake and this bill would require them to post that address as well,” he said.

First-Time Homebuyer’s $8000 Tax Credit

This may be one of the best times historically for first time homebuyers to purchase their first home with the $8,000 tax credit & other incentives!  Affordability is better than ever, there are plenty of homes on the market, and sellers are more willing to bargain.  With the 30 year fixed interest rate dropping below 5%, anyone qualified for this, should take advantage of it before December 1st, 2009.  To find out the qualifications and view other FAQ’s, visit: http://www.krantzproperties.com/affordable_homes.aspx

Shoreline Cleanup, Dock Encapsulation, and Zebra Mussels at Lake of the Ozarks

Jeff Krantz attended the Adopt-the-Shoreline advisory board meeting Tuesday january 20, 2009. The 2008 Fall shoreline clean up was a great success. Volunteers collected 937 cubic yards of debris and another 400 cubic yards of debris was collected on the “free” day that Ameren sponsored, totaling over 1337 cubic yards, making this fall clean up one of the biggest ever. The best part was that 70% of all of the white foam collected was recycled. Ameren reported that there are 25,000 boat docks on the lake and that only 700 are not encapsulated. Of the 700 that have not yet complied, 100 of them are currently under contract to have their docks encapsulated. Ameren also stated that they are starting the process of compliance on the remaining docks now. The encapsulation program has been a tremendous success and we are very close to eliminating one of the biggest pollutant’s of the lake – white foam. The spring clean up this year will be a very important one due to all of the push to re-foam to encapsulated foam in 2008. They anticipate a large amount of debris this spring. After this spring we should really see the positive effects from this program with a reduced amount of white foam debris. Come on out and participate in the Spring clean up this year, it’s fun and the lake is our back yard! There was also a report given on Zebra Mussels in the lake. The attached map shows all of the locations that Zebra Mussels have been documented. Zebra Mussels are small, aggressive breeders that attach to almost anything and are often responsible for clogging up intakes on motors, irrigation and landscaping pumps, etc. If your boat has been in the water here at the lake and you are planning a trip to another lake, please make sure to follow the department of conservations recommendations to ensure that you do not transport them to a new water body. Greg Stoner with the Missouri Department of Conservation is monitoring the population of Zebra Mussels in the lake and would like anyone who spots any to call him direct to report the locations. Greg’s number is 573-346-2210 Ext. 235