RE/MAX Lake of the Ozarks sponsors a Relay for Life team, a fundraising platform for the American Cancer Society.
Another upscale grocery store grand opening took place.
Woods Supermarket was welcomed by local and state officials, along with the community at the ribbon cutting ceremony in Sunrise Beach. The Woods family as well as the company’s CEO, Craig Easter and executive team attended the event. Grand opening specials will be offered through July 2, and a pontoon boat will be given away on June 29. The store is 53,540 sq. ft and features a gas station, BBQ smokehouse with in-season patio dining, a full deli, bakery and meat counter, large produce and liquor departments, and full service pharmacy. Building the supermarket supported 150 construction jobs, and 60 new permanent jobs have been created by the store.
Luxury Home Market
Recently we have seen several “unique transactions” occur in the Luxury Home Market. Where many of these practices are not new in dealing in real estate transactions, they do seem to be on the rise here at the lake.
Due to strict financing restrictions and individuals circumstances, “trades” have become more popular. Not just with luxury homes at Lake of the Ozarks, but with farms, commercial property, and other luxury items, such as boats or exotic cars. This may not be the best option for every buyer or seller, but it is another avenue.
Each circumstance, and the ultimate goals differ for each party in the transaction. If you are thinking of buying and want to “move up” or selling and want to explore some creative options that might fit within your portfolio, this might be an option. Stunning estate with approx. an acre lot on with 2 additional adjoining lots available. Home finished with detail rarely seen in homes twice this price,including extensive landscaping with hand-laid stone waterfalls. The heated pool is totally unique, not clorine, not salt, but an EcoSmart system. Home offers not only 6 bedroom suites, but also a private home gym, office/library, gourmet kitchen with butler pantry…the list is too long to include everything! An unbelievable value for one savvy buyer. $1,775,000
The sellers are willing to look at various trades with buyers on this home! They may consider a boat, RV, farm, parcels, commercial real estate, a smaller lake home, or condo. Please contact our office for more details.
More Recognition for the Lake!
In the June/July issue of Boat U.S., Lake of the Ozarks was mentioned. Camdenton was named in the featured article, 10 Great Boating Towns: To Retire + Play + Thrive! The magazine suggests ten cities and small towns across America that are good areas for boating and offer good opportunities for active boaters about to retire. Among some of the ten cities chosen were trendy big small-town, Portland, OR to the lively city on a bay Portland, ME, as well as waterfront metropolis on the Pacific, San Diego, CA.
Fast Facts on Camdenton, MO:
Fishing: Largemouth bass, crappie, catfish, spoonbill
Boating Season: Mid-May through mid-October
Boat Amenities: 27 marinas on Lake of the Ozarks, some with repair facilities
Cost of Living: 10.2% below the national average
Taxes: 1.5%-6% state income tax rate; 7.475% combined state and local sales taxes; no state inheritance tax or estate tax
Median Home Price: $177,500
Nearest Major Hospital: Lake Regional Health System
Airports: Regional: Columbia Regional Airport (80 miles), Springfield-Branson National
Airport (90 miles) | Major: St. Louis International Airport (165 miles), Kansas
City International Airport (198 miles)
The Lake is not unlike other areas in its Vacation Home Sale Trends:
Home prices nationally have risen at their fastest annual rate in seven years, with some communities seeing double-digit price gains as buyers compete for a thin supply of properties. Many vacation-home markets, though, are recovering at a slower pace and the choices for buyers remain plentiful, say real-estate experts. Adam Widener, an investment analyst in New York, this month paid $580,000 for a 1,700-square-foot house in Southampton, N.Y., that first came on the market in March 2007 priced at $895,000. “You’re never going to time the market exactly right,” says Mr. Widener, who looked at about 20 homes over a five-month period. “What you want to see in front of you is that prices are starting to appreciate and the worst is behind you.” As the economy recovers, second-home markets are improving, with vacation-home sales up 10% in 2012 after falling 56% between 2006 and 2010, according to the National Association of Realtors, a Washington trade group. But the pace of increase is well below the 17% gain in sales of primary homes last year. One reason: Buying a second home is a luxury. “A vacation home is the ultimate discretionary purchase,” says Paul Bishop, vice president of research at the Realtors group. Nor are vacation properties likely to attract the attention of hedge funds and other investors that have scooped up bargain-priced homes in many markets and turned them into rentals, winnowing inventories and helping push prices higher. Owners sometimes rent out vacation homes, but they are primarily purchased for personal use, unlike investment properties. Most investment properties are in urban or suburban areas and are rented out full-time as primary residences. The median sales price for a vacation home was $150,000 last year, according to the Realtors group. That is up 24% from 2011, reflecting more sales of higher-priced properties, but well below the peak of $204,100 in 2005. While some second-home markets are likely to recover more quickly than others, “the fundamentals would argue for a good market for the foreseeable future,” says Mark Zandi, chief economist at Moody’s MCO +0.58% Analytics. He expects prices for second homes to increase by 6% a year for the next five years, on average, compared with a 4% annual increase for primary homes. “I think the high end of the market is going to take off because high-income households are in really good financial shape and they are in the part of their life cycle where they want second homes,” Mr. Zandi says. Meanwhile, rates on conforming 30-year fixed-rate mortgages now average 3.78%, near record lows, according to HSH.com, a mortgage-information website in Riverdale, N.J. Terms vary lender to lender, but in some cases, second-home buyers might face higher costs than those buying a primary residence. To get the best deal on a second home, you will want to take a close look at the local market. Our market here at the lake is similar to other parts of the country in that our inventories are declining and we are seeing a steady increase in number of sales. Values are still relatively flat but all indicators show that we are well past the bottom and moving towards transitioning back to a sellers market and appreciating property values within the next few years. We would love the opportunity to share these market statistics with you whether you are in the market to sell or buy!