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.
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!”
Welcome to our view of real estate at Lake of the Ozarks!
The Donna Gum Team has over 50 years of real estate experience at the Lake of the Ozarks and will try to bring that knowledge to you through this blog the Lake Market Watch Weblog. Every month we will post where the market is, where it has been and our view of where we think it is going.
The above graph shows waterfront home sales comparing 2006 to 2007. While units are down, values are still up.
I am just getting familiar with the Blog, so next time I will post the average sales price of waterfront homes in a similar fashion.
