The #1 Reason to List Your House, NOW!

54 Aqua Fin Drive #3A Lake Ozark, MO. 65049

MLS# 3125893

Virtual Tour

The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that sales rose 0.7% month-over-month, but remain 1.5% lower than they were a year ago. Some may look at these numbers and think that now is not a good time to sell their house, but in fact, the opposite is true.

The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! The inventory of homes for sale has fallen year-over-year for the last 28 months and has had an upward impact on home prices.

NAR’s Chief Economist Lawrence Yun had this to say;

“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country.

Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings – especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers.” 

The houses that are on the market are selling fast, too! According to NAR’s Realtors Confidence Index,the median number of days it took for a house to go from listed to under contract over the past three months was 34.

Bottom Line

If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market!

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GR

Buying Remains Cheaper Than Renting in 39 States!

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!

A study by GoBankingRates looked at the cost of renting vs. owning a home at the state level and concluded that in 39 states, it is actually ‘a little’ or ‘a lot’ cheaper to own (represented by the two shades of blue in the map below).

One of the main reasons owning a home has remained significantly cheaper than renting is the fact that interest rates have remained at or near historic lows. Freddie Mac reports that the current interest rate on a 30-year fixed rate mortgage is 3.91%.

Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters who would like to evaluate your ability to buy this year, let’s get together and find you your dream home.

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GR

🌊 Sweet Lake Package Here!🌊

54 Aqua Fin Drive #3A Lake Ozark, MO. 65049

MLS# 3125893

Tastefully decorated turn-key unit at Aqua Fin Resort. Spacious living with 1500 square feet, 3 bedrooms, 3 full bathrooms, coffered ceiling and a corner fireplace! Large master suite with a private door out to the large, covered deck and a view of the Lake.

The deck is all set up for game night with a flat screen T.V., seating for 10+ and includes the grill! This is the ultimate in lake living! Great living space, lovely view, and comes with a 12X36ft slip! Close to some of the hottest lake attractions and makes an excellent VRBO!

View the Virtual Tour HERE!

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GR

🌊 Panoramic Views at Summer Ridge! 🌊

4461 Hamrock Lane Unit 601 Osage Beach, MO. 65065

MLS# 3121231

Lovely unit at Summer Ridge with amazing panoramic views from the covered decks of this spacious 3 bedroom, 3 bathroom spacious condo! Open living, professionally remodeled and comes completely turn-key!

Beautiful views of the 17MM! As if the unit itself wasn’t enough, the amenities here are outstanding! Indoor and outdoor tennis courts, indoor swimming,heated swimming pool, hot tub and sauna! This is the perfect place to relax and that is what a home is about! Bringing friends and family over and relaxing! Includes a 12X32ft slip!

View the Virtual Tour HERE!

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GR

Looking for Your Dream Home? Know What You Want vs. What You Need!

In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search.

If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the countless homes listed for sale through rose-colored glasses.

Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car garage be a convenience or a necessity? Could the ‘man cave’ of your dreams be a future renovation project instead of a make-or-break right now?

The first step in your home buying process should be getting pre-approved for your mortgage. This allows you to know your budget before you fall in love with a home that is way outside of it.

The next step is to list all the features of a home that you would like, and to qualify them as follows:

• ‘Must-Haves’ – if this property does not have these items, then it shouldn’t even be considered (ex: distance from work or family, number of bedrooms/bathrooms).
• ‘Should-Haves’ – if the property hits all of the ‘must-haves’ and some of the ‘should-haves,’ it stays in contention but does not need to have all of these features.
• ‘Absolute-Wish List’ – if we find a property in our budget that has all of the ‘must-haves,’ most of the ‘should-haves,’ and ANY of these, it’s the winner!

Bottom Line

Having this list fleshed out before starting your search will save you time and frustration, while also letting your agent know what features are most important to you before starting to show you houses in your desired area.

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GR

America Needs Your House!!

The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added):

Mark Fleming, First American’s Chief Economist

“The underlying fundamental issue is an overwhelming lack of supply… The supply of newly constructed homes is also sagging, adding to the supply challenges. Over the last eight years, housing demand has increased by 5.9 million, but the net new number of housing units has only increased by 3.5 million.”

Svenja Gudell, Zillow’s Chief Economist

“Everyone has been talking about tight inventory but I think we are OK calling it a straight up inventory crisis at this point. We just don’t have enough homes.”

Sean Becketti, Freddie Mac’s Chief Economist

“House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale.”

Lawrence Yun, National Association of Realtors’ Chief Economist

“Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”

Bottom Line

If you are considering selling your house soon, now may be the time to get it on the market. The lack of competition could lead to a faster sale at a higher price.

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GR

Don’t Disqualify Yourself… 52% of Approved Loans Have A FICO® Score Under 750!

The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.

One such study by the Wharton School of Business at the University of Pennsylvania revealed that many millennials have not yet considered purchasing homes simply because they don’t believe they can qualify for a mortgage.

A recent article about millennials by Realtor.com explained that:

“About 72% of aspiring millennial buyers said they’re waiting because they can’t afford to buy…”

The article also explained that 29% of millennials believe their credit scores are too low to buy.The problem here is the fact that they think they will be denied a mortgage is keeping them from even attempting to apply.

Ellie Mae’s Vice President Jonas Moe encouraged buyers to know their options before assuming that they won’t qualify for a mortgage:

“Many potential home buyers are ‘disqualifying’ themselves. You don’t need a 750 FICO® Score and a 20% down payment to buy.”

So, what credit score is necessary?

Below is a breakdown of the FICO® Score distribution of all closed (approved) loans in July from Ellie Mae’s latest Origination Report.

Over 52% of all approved loans had a FICO® Score under 750. Many potential home buyers believe that they need a score over 780 to qualify.

Bottom Line

If owning a home of your own has always been your dream and you are ready and willing to buy, or if you are a homeowner who wants to move up, find out if you are able to! Let’s get together to determine if your dreams can become a reality sooner than you thought!

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GR

Huge Price Reduction!!

7 & 9 Beller Lane Kaiser, MO. 65047

MLS# 3120478

This is an exceptional deal! Price reduced by $10,000 for this Mini RV park that is already set up with septic, well and six RV hook-ups! There is an RV camper and play area already on site! Not far from all the Lake entertainment, dining, shopping and the beautiful Lake!

View the Virtual Tour HERE!

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GR

Lake of the Ozarks Shootout this Weekend!!!

Who is ready for the Lake of the Ozarks Shootout? We are ready! The event starts at Captain Ron’s this Saturday, where you will be able to watch the top powerboat racers from across the country compete for the fastest speed! This is an amazing event to witness and take part in! All the proceeds go to benefit the Lake Area Resource Teams and other charities!

If your looking for the best spot to watch the powerboats tomorrow, stop by our office!

For more information click HERE!

Image Source: Funlake.com

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GR