With Prime rate at 4%, Home equity lines of credit for debt consolidation along with a lower interest rate first mortgage could save hundreds of dollars a month.
$10,000 worth of credit card debt, rolled into a Home equity line of credit at 5% (prime +1) would only be $41.66 dollars a month.
Check out real estate at Lake of the Ozarks at www.RealEstateAtLakeOfTheOzarks.com
| Price Ranges | # of Sales in 2007 | # of Homes Listed | No. Months of Inventory | Absorption Rate Per Month | Market Condition |
| $0 – $149,999 | 46 | 17 | 4.43 | 3.83 | Sellers |
| $150,000 – $199,999 | 93 | 50 | 6.45 | 7.75 | Neutral |
| $200,000 – $249,999 | 102 | 83 | 9.76 | 8.50 | Buyers |
| $250,000 – $299,999 | 97 | 95 | 11.75 | 8.08 | Buyers |
| $300,000 – $349,999 | 73 | 70 | 11.51 | 6.08 | Buyers |
| $350,000 – $399,999 | 53 | 93 | 21.06 | 4.42 | Buyers |
| $400,000 – $449,999 | 40 | 32 | 9.60 | 3.33 | Buyers |
| $450,000 – $499,999 | 27 | 37 | 16.44 | 2.25 | Buyers |
| $500,000 – $549,999 | 10 | 23 | 27.60 | 0.83 | Buyers |
| $550,000 – $599,999 | 15 | 29 | 23.20 | 1.25 | Buyers |
| $600,000 – $649,999 | 13 | 19 | 17.54 | 1.08 | Buyers |
| $650,000 – $699,999 | 9 | 17 | 22.67 | 0.75 | Buyers |
| $700,000 – $749,999 | 9 | 10 | 13.33 | 0.75 | Buyers |
| $750,000 – $799,999 | 6 | 19 | 38.00 | 0.50 | Buyers |
| $800,000 – $849,999 | 4 | 9 | 27.00 | 0.33 | Buyers |
| $850,000 – $899,999 | 10 | 8 | 9.60 | 0.83 | Buyers |
| $900,000 – $949,000 | 1 | 3 | 36.00 | 0.08 | Buyers |
| $950,000 – $999,999 | 3 | 15 | 60.00 | 0.25 | Buyers |
| $1,000,000 – $1,249,999 | 12 | 14 | 14.00 | 1.00 | Buyers |
| $1,250,000 – $1,499,999 | 5 | 17 | 40.80 | 0.42 | Buyers |
| $1,500,000 – $1,749,999 | 1 | 13 | 156.00 | 0.08 | Buyers |
| $1,750,000 – $1.999,999 | 0 | 9 | - | 0.00 | Buyers |
| $2,000,000 – $2,499,999 | 1 | 8 | 96.00 | 0.08 | Buyers |
| $2,500,000 – $2,999,999 | 2 | 10 | 60.00 | 0.17 | Buyers |
| $3,000,000 – $3,999,999 | 5 | 8 | 19.20 | 0.42 | Buyers |
| $4,000,000 + | 0 | 2 | - | 0.00 | Buyers |
How to read this chart
Absorption rate per month is based on the full year of sales for 2007. The number of sales is divided by the number of months (12), which gives us the number of houses the market absorbs per month in any given price range.
Number months of inventory is how long it will take to deplete the current inventory based on the monthly absorption rate. This is a more accurate indicator of market performance than Days on the Market.
Current Market Condition is based on the inventory and the monthly absorption rate. An inventory of 6 months is a Neutral Market. Anything less than six months of inventory is considered a “Sellers” Market; anything more is considered a Buyer’s” Market. In a second home market, however, a Seller’s motivation and flexibility is rarely predicated on inventory alone. Please contact us for further market information.
I ran across this interesting quiz on the candidates for President.
It contains some good information and where each candidate stands.
2007 Growth at Lake of the Ozarks
Development… Development…Development… Development…
Every where you look commercial development is going on. From World Class multi-million dollar resort/hotels to major retail shopping destinations to luxury condominiums.
Osage Beach had $50 Million plus in permits. Lake Ozark reports more than $1 Billion, with a B, in new projects. The largest are The Shoppes at Horseshoe Bend, where HorseShoe Bend Parkway will be extended out to Hwy 54, and a Revitalization plan for the “Strip”.
John Q. Hammons has the GO to build a world class hotel/resort in Osage Beach and across the lake on Shawnee Bend, Riva D’Lago has the approval from the Camden County P & Z.
Assessed Valuation is going through the roof. Camden County is over $1.4 Billion, Miller is up to nearly $380 Million and Morgan is up 16% to $366 Million
It used to be that we had to travel to Jefferson City, Columbia, Springfield, KC or St. Louis if we wanted to shop. Now they are all coming to the lake to shop! My how times have changed and from all I see going on around the lake, “You ain’t seen nothin’ yet!”
The Lake Sun Leader just published an article showing that Accidents, drunken driving arrests and boating related fatalities all declined in 2007.
To see the entire story go to http://www.lakesunleader.com/articles/2008/01/04/news/01.txt
We all know the lake is becoming more popular. But with stepped up enforcement and a little common sense, it doesn’t have to mean that it is becoming more unsafe!
The annual drawdown of the Lake of the Ozarks is about to begin. Every year Ameren UE drops the lake level to accomidate spring rains. The drawdown normally starts in early January and depending on percipitation levels, typically start going back up in early to mid April.
Full pool at the Lake is 660 feet above sea level. Normally, the low is around 654, but 650 is not uncommon. If there is ice on the lake, it is important that during the time of the drawdown, that you have a de-icer installed on your dock so that the ice doesn’t damage it. The last few years have not been bad as far as ice, but you never know what Mother Nature has in store!
From the Lake Focus: The coves tested in the latest round of water samples tracking E. Coli level has come back with a perfect score.
This is great news to all of us that love and live at the lake. Earlier samples this year came back with one bad sample. out of the 57 samples taken.
The Hammons project applied for and received unanimous first round approval for TIF financing from the Osage Beach Board of Aldermen.
The resort, hotel complex will be a world class $96 million dollar project. Following the developers schedule, it will be in operation in the Spring of 2010.
This week the local Lake News Focus reported on groundbreaking for the construction of the new Expressway.
This portion of the $30 Million project will stretch from The Grand Glaize Bridge to near Route 42 (Lowes). Once the entire project is completed it will go from Business 54 to K at a cost of $158 Million.
Projected completion date is late in 2010.
This will greatly ease the traffic congestion through out Osage Beach.
