Wednesday, January 27, 2016

6 Tips For Single Homebuyers

Think you have to wait until you have found that special someone to buy a house in Osage Beach MO? Think again! According to the National Association of REALTORS®, single females accounted for 15% of all homebuyers in 2015 and single men accounted for 9%. While this may seem like a relatively small percentage, it means that increasing number of single individuals are taking the homeownership plunge. 

If you are considering buying a house on your own, The Property Shop at the Lake is here to help! Here are a few important suggestions.

1. Don't Stretch Your Budget
As a prospective homeowner, it's essential that you not spend beyond your means. Look at your budget carefully to determine how much you can comfortably afford to spend on a monthly basis. Just because you've been prequalified for a high loan amount does not mean you have to purchase an expensive home. Instead of looking at your prequalification as the number to aim for, simply consider it a starting point and work your way down from there.

2. Bring Someone With You While House Hunting
Choosing which house to buy is a big decision. There are a lot of different factors to consider, and it can be easy to get so caught up the excitement of it all that you overlook some things. As you tour different homes, bring a trusted friend or family member with you to provide their feedback and help you evaluate the pros and cons. The properties will begin to run together after a while, and having another set of eyes may prove incredibly useful.

3. Never Underestimate The Power Of A Smaller Home
If you're planning to live alone, buying a smaller home could be a great idea. Smaller properties require less maintenance, less upkeep, and less cleaning. If you end up finding a partner and wanting children eventually, you can always move up when the time comes. We have plenty of small homes for sale, or you could always consider buying a condo at the Lake of the Ozarks.

4. Keep A Financial Safety Net
It doesn't matter whether you're buying a house by yourself or with a partner; keeping a financial safety net is essential. Most experts recommend keeping enough money in an emergency fund to cover your expenses for three to six months without income. Life is unpredictable, so it's best to always be prepared. When buying a house, don't spend so much money on your down payment that you use up your entire savings.

5. Think Ahead
Buying a home requires a big investment of both your time and your money. Before putting so much into it, we encourage you to carefully imagine where you see yourself in five years and buy a home that fits that image. Obviously your situation may change (you may find a partner, you may begin a new career, etc), so finding a home that could serve multiple different purposes may be your best option. 

6. Consider Resale Value
No matter what your reasons for buying are, considering the future resale value of each potential property is absolutely essential. Great location, a good school district, easy access to shopping and recreational activities are all things that can help a home maintain its value. If you can purchase additional land around the home or perform various upgrades, you may be able to help increase your property value more quickly. 

The Property Shop Agents Are Here For You!
Whether you're buying a house by yourself or with a partner, our buyers' agents at the Lake of the Ozarks would be honored to help you turn your dream home into a reality. Visit our website to learn more about our homebuyer resources at the Lake of the Ozarks!

The Property Shop at the Lake
2086 Horseshoe Bend Parkway
Lake Ozark, MO 65049
(573) 693-1100
(573) 480-7760

Thursday, January 21, 2016

The Danger of Overpricing Your Home

Every buyer in the world is looking for a good deal, and real estate is no exception. Homebuyers at the Lake of the Ozarks want great purchases at even better prices, and the sellers who accommodate their wishes have a much easier time selling their homes.

If sellers are not in a major rush for their home to be sold, they may decide to price their home a little higher in the beginning to see if they can get more money for it. While this is an understandable urge, overpricing your home can be hugely detrimental to your overall selling process. Your Lake of the Ozarks real estate agents are here to help you understand the danger of overpricing your home when it first goes on the market.

Overpricing Hurts Your Visibility

Many buyers now begin their search for homes for sale at the Lake of the Ozarks online. When conducting online searches, they often filter their results by price range. If you overprice your home, it may not show up in the search results for buyers who would otherwise be interested in your home. Don't hurt your visibility by overpricing your property.

Overpricing Scares Off Potential Buyers

Not only can overpricing hurt your visibility, it can actually scare off potential buyers who assume they will not be able to afford your home. While your property's actual market value may be exactly within their price range, the higher number you have chosen to advertise may cause them to scratch your home off the list and look elsewhere for their new homes.

Overpricing Can Cause Your Home To Take A Long Time To Sell

Even if you are not in an initial rush to sell your home, it can be discouraging to watch your property sit on the market for months and months. Zillow, Trulia, and other major real estate services at the Lake of the Ozarks say how many days any given home has been on the market, and when buyers notice that a home has been listed for 278 days, they may wonder if something is wrong with the property. They may jump to the same negative conclusion if they see that the price has dropped several thousand dollars from the initial asking price.

Overpricing Puts You At A Disadvantage During Your Most Powerful Time On The Market

Typically, properties for sale at the Lake of the Ozarks get the most traffic during their first thirty days on the market. Real estate agents are excited to show off a new property, and buyers are excited by the chance to snatch up a home before other buyers have the chance to find it. If you overprice your home in the beginning, you may hurt your visibility and your traffic during what would otherwise be your most powerful time on the market.

Overpricing May Make You Seem Difficult

In addition to a good price, buyers are looking for sellers who will work with them. Buying and selling homes should never be a combative experience, as everyone - the buyers, sellers, real estate agents, and mortgage lender - are all working together towards the same goal. If you price your home well above what it is worth, buyers may assume that you will be difficult to work with and go looking elsewhere.

The Property Shop Can Help You Accurately Price Your Home!
Pricing your home realistically from the very beginning can help you avoid these types of dangers and sell your home at the Lake of the Ozarks much more quickly. Our agents will help you determine the best price for your home and will be there to assist on all negotiations with potential buyers. Visit our website for more information about resources for home sellers at the Lake of the Ozarks!

The Property Shop at the Lake
2086 Horseshoe Bend Parkway
Lake Ozark, MO 65049
(573) 693-1100
(573) 480-7760

Friday, January 15, 2016

Estate Sales 101

How do you get rid of possessions you no longer need? Many of us clear out unnecessary belongings by hosting garage sales or by donating items to charities or thrift stores, but what happens when you have to clear out an entire houseful of belongings at one time?

Perhaps a family member has died. Maybe someone has filed for bankruptcy. Perhaps someone wishes to sell their vacation home and no longer has a need for any of the items in it. These are all great examples of times when it might be a good idea to host an estate sale.

What Is An Estate Sale?

Estate sales are similar to garage sales in that they are sales held in the home and are an opportunity to get rid of household items that are no longer needed. Unlike garage sales, however, buyers will not be limited to the items that you have placed outside. Instead, buyers will wander through your house and gather the items they wish to buy. (For this reason, it's important to make sure that any items not for sale are tucked safely out of sight - or, better yet, off the property entirely.)

Tips For Hosting An Estate Sale

Unlike garage sales, most people rarely host more than one estate sale in their lifetime (and many people never host one at all). For this reason, some people choose to contract estate sale companies to help them with the process. If you're looking to save money, however, you can host the sale yourself. Here are a few tips to help guide you through the process.

Group Similar Items Together
Your goal should be to make the sale user-friendly and convenient for shoppers. Group similar items together in the places you would expected to find them - for example, display all kitchen-related items in the kitchen and display all towels and linens in a bedroom. This will make it easier for shoppers to locate the items they want.

Don't Place Items On Furniture That Is For Sale
If you're selling tables, desks, credenzas, or other pieces of furniture, it's important to keep them easily accessible and portable. Don't use them to display smaller items that are also for sale. Use folding tables for this purpose instead.

Hold Your Estate Sale AFTER Your House Sells
If you are selling your house in addition to all of the items in it, it may be wise to hold off on the estate sale until after your home has sold. Homes stage better with furniture and decor pieces in them, so don't get rid of these items until your house is off the market.

Don't Throw Anything Away Until After The Sale
Use this suggestion, but use it within reason. Obviously, shoppers won't want to purchase your trash. However, you never know shoppers might find appealing - that duck painting you've been dying to get rid of might be exactly what another person has been looking for. Once the sale is over you can take the items that didn't sell and donate them to a thrift store or throw them away, but don't do this prematurely!

Advertise Your Estate Sale Ahead Of Time
Hosting an estate sale can be a great way to get rid of unwanted items and bring in some extra cash at the same time, but it won't do you any good if no one knows about your sale! Advertise your sale ahead of time online, in newspapers, on social media, on signs, and via word of mouth. 

Good Luck!

On behalf of all of our real estate agents at the Lake of the Ozarks, we wish you a very successful estate sale. If you need help selling your house at the Lake of the Ozarks, don't hesitate to schedule a consultation with one of agents. We would be happy to help you in any way we can!

The Property Shop at the Lake
2086 Horseshoe Bend Parkway
Lake Ozark, MO 65049
(573) 693-1100
(573) 480-7760

Tuesday, January 5, 2016

House Or Condo: Which Is Right For You?

Congratulations! You've decided to buy property at the Lake of the Ozarks. Before you can progress any further, though, it's time to ask yourself several important questions. Should you buy a home or a condo in Osage Beach MO? If you opt for a home, should you live on or off the water?

Without first gathering all the necessary information and asking yourself the important questions, it can be hard to make these decisions. Property Shop at the Lake is here to help make the process easier! We've compiled a list of questions you should ask yourself before choosing which type of property to buy. Once you have your answers in front of you, your decision will be much simpler.

Question #1: Will This Be Your Full-Time Or Part-Time Residence?

The amount of time you plan to spend at your new place will significantly impact what features you will need. If you plan to live in your new home year-round, you will probably want a house (or at least, a large condo) with plenty of storage space. If your new property will be a vacation destination where you only spend long weekends, however, it won't need to be nearly as spacious. You can store the majority of your belongings at your primary residence and only keep the items you need for vacation at your new location.

Question #2: How Much Time Do You Plan To Spend On The Water?

Be honest: how much do you see yourself getting out and spending time on the water? Living on the water can be a truly phenomenal experience, but it can be more expensive and may require additional upkeep. If you plan to use your lake access frequently, buying a waterfront home at the Lake of the Ozarks could be perfect for you. However, if you don't plan to spend much time on the water, you may be better off with an interior home.

Question #3: How Many People Will Live In Your New Home?

The number of people you will have living in your home often directly correlates to how much space you will need. Obviously you will need more bedrooms and bathrooms if you have a larger family, but you will also need extra space for storage and more living space to accommodate the greater number of people. If you are only buying property to share with your spouse or to live on your own, on the other hand, you probably won't need nearly as much as space. In that case, a small waterfront condo at the Lake of the Ozarks would probably be a great option.

Question #4: What Are the Ages Of The Family Members Who Will Be Sharing Your Home?

Identifying the number of people who will share your home is important, but it's also important to consider their ages. If you have young children, you may want to consider property inside a condo or homeowners association that has access to pools, playgrounds, and other family-friendly amenities. If there will only be adults living in your home, however, you may be able to lean towards more upscale, luxury condos at the Lake of the Ozarks.

House Or Condo - Which Will You Choose?

If you're considering buying real estate at the Lake of the Ozarks, it's time to talk to one of our real estate agents in Lake Ozark MO! Our team members would be happy to help you evaluate your situation and determine which options will be best for you and your unique situation. Check out our website or give us a call at 573-693-1100 for more information!

The Property Shop at the Lake
2086 Horseshoe Bend Parkway
Lake Ozark, MO 65049
(573) 693-1100
(573) 480-7760