Do you want to purchase a foreclosure in the Branson/Table Rock Lake area? If so, there are things you need to know to make your quest successful.
Remember, you're not the only person looking for a great deal. The competition is stiff and many of these homes receive multiple bids. Therefore, being prepared will mean the difference between making a successful offer that results in a contract or losing the home to another buyer.
The first step to being ready is to have a system in place to be notified about foreclosed properties. If you're the first to find the properties available, you'll have an edge over the competition. This is the easiest part. Just email me and put foreclosures in the subject line. I'll email you a list of all available properties and you'll also receive updates on new listings as they become available.
The next step is financing your purchase. You need to make arrangements for a loan prior to looking at property. Obtain a letter from a bank or mortgage company stating that you qualify for a loan up the amount the lender is willing to lend you. The seller will require a copy of this letter with the presentation of an offer.
If you plan to pay cash, you'll need a letter from your financial institution indicating the amount of funds you have to make a purchase.
And last, but not least, find a good Realtor to be your Buyer's Representative. A Realtor knows the procedures and requirements of closing a foreclosure. In addition, you'll need advice from your Realtor as to whether the home you are considering is at or below market value. Just because a home is a foreclosure doesn't mean it's a good value.
To find out more about foreclosures or other real estate, please email me or call at 417-337-4422.
In the past, some of the local souvenir shops carried (and may still) T-shirts that featured a picture of two, long lines of cars on a two-lane road with the caption: Branson, The World's Biggest Parking Lot. This is proof that Branson has a reputation for terrible traffic.
While this is still a busy, tourist destination, traffic is really not that big of a problem. Prior to the early 1990's, you didn't have many route choices besides Highway 76 and a few windy streets that circled through various subdivisions. However, since that time, many alternate routes have been developed to get around town.
If you chose to head down Highway 76, the chances are good that you'll soon come to a halt and then a crawl. Roark Valley Road, Highway 248, Epps Road, Forsyth Road, Fall Creek Road, Highway 376, Shepherd of the Hills Expressway, Gretna Road, Green Mountain Drive, and Highway 165 are all routes that will either alone, or in combination with another road, help you avoid the traffic on Highway 76. I suggest using a mapping program on the internet before your trip to incorporate some of these routes to reach your destination.
There are only a few times a year when traffic is a challenge, no matter what road you travel. Times that come to mind are the Car Show Weekend in August, the day after Thanksgiving, and the three summer holidays. You will probably encounter traffic on these dates.
If you haven't come to Branson because of the traffic, I hope you'll decide to visit and use some of the alternate routes I've listed to get around town.
Newly renovated in 2009, the Pointe Royale Golf Course in Branson, Missouri, is located along the banks of Lake Taneycomo. For all levels of play, this course features lush bent grass greens and Bermuda fairways, eight water holes, rolling fairways with mature trees, and sand and grass bunkers. The 18-hole, 6,501 yard par 70 course is considered the original championship course in the Branson area.
In addition to its scenic 18 holes, you'll enjoy the abundant wildlife and natural beauty of the Ozarks. Take a stroll on the nature trail to see bald eagles and the beautiful lake below the course.
Lodging is available on a nightly or weekly basis at one of the many available condos at the development, which is close to all Branson has to offer, includingTable Rock Lake and Lake Taneycomo. Resort amenities include a clubhouse, bar and grill, indoor & outdoor pools, spa, fitness room, tennis courts, practice putting green, and a Pro Shop.
Contact me for more information on this vacation destination. You may want to someday call it home!
There's never been a better time to buy. However, if you need to find a rental in the Branson area instead, I've compiled a list of places to call.
Listed below are a couple of property management companies and several apartment complexes. In addition to this list, visit the Branson Daily News web site and click on Classifieds for a listing of more places to rent.
There are many things you need to do to help your vacant home show better. Number one: Keep it clean. You may have cleaned it when you moved out, but even empty houses get dirty. Many times there are cobwebs or dead bugs on the floor. And somehow, dust still accumulates.
Another important detail is the smell of the home. I showed a home today that has been on the market for about two months but the disclosure says it has been vacant for three years. The buyers thought the home smelled like it had a mold problem. However, I think the odor is from being closed up for a very long time. Leaving the windows open for a day during nice weather and hiring someone to clean would improve the chance of this house selling tremendously.
Also, maintaining the outside means more than just mowing the yard. I’ve shown houses in the spring or summer time where you have to wade in leaves up to your knees to get to the front door. This is not the definition of curb appeal!
Remember, anything the buyer sees at a home that needs to be done is a strike against the house. It will make them decide against making an offer or it will influence them to make a lower offer. With the huge amount of inventory out there, you have to do all you can to compete with other homes available for sale.
The first step in building the custom home you've always wanted is finding the perfect lot. However, there is more to picking a lot than just location.
You will need to get a professional opinion about the slope of the lot and how it will affect the cost of building your home. This advice pertains more to the Ozarks than it does to other parts of the country, as flat lots are few and far between in this area. You will want your builder or excavator to examine the lot and possibly take shots of the slope of the elevation. It can sometimes cost thousands of dollars to add enough fill-dirt and/or rock to be able to start construction if the slope is too steep.
Another area to check out before you buy is the source of water and also whether there is sewer system in place. If public/community sewer and water are not available, the lot has to be big enough to accommodate both a well and a septic system. The Department of Natural Resources has guidelines regarding the distance between the two.
Also, if a central or public sewer system is not available, it is imperative that you have a soil analysis performed by a licensed soil scientist before you make a purchase. In Stone and Taney counties, you must present a copy of a soil analysis before you can obtain a building permit. The soil analysis will determine what kind of septic system will be required for the lot. There is a wide variation in the price of septic systems so it pays to know this information before you make a purchase.
One last precaution and this applies to an existing home purchase too: read the subdivision restrictions, if there are any. It's important to know all the requirements before you sign your closing documents. You may find the rules too restrictive for your taste or vice versa.
Following this advice before you make a lot purchase will help insure you really do find the perfect lot.
It's official. Today, May 11, 2009, the Branson Airport, the first privately-developed and operated commercial service airport in the United States, opened for business.
With flights to Atlanta, Dallas, Milwaukee, and Minneapolis, air travel will be much more convenient for residents and visitors alike. The current air service carriers are AirTran and Sun Country.
In recent months, I've met several people wanting to sell property they purchased for investment purposes. If I had met these individuals when they made their purchase, I would have guided them to a better investment. In all cases, these owners bought directly from the developer or a for-sale-by-owner.
In one example, I recently met a gentleman who purchased a lot in a large subdivision directly from the developer. He bought the lot in 2005 when the market was at its peak. There is nothing outstanding about the property in regard to location, view, size, etc. At the present time, there are 95 lots for sale in the subdivision where his lot is located. Since only ten lots sold in this subdivision in the last year, the odds are against his property selling, much less making a profit.
Another investor recently contacted me. This lady lives in California and purchased her lot through an investment seminar held by the developer. She had heard of Branson but had never been here or even to Missouri. She purchased her lot without seeing it and was under the impression the lot was in Branson. It is actually in Forsyth, twelve miles away. The lot is gorgeous, but so are the dozens of other lots just like it that are for sale in the same subdivision. This person was very disappointed when she learned that she had paid more for the lot than what similar properties had sold for in the area at the time.
In my last scenario, I spoke to a couple who purchased a condo last year from a for- sale-by-owner. Due to health reasons, they wished to sell the condo and expected to take a loss. They were definitely surprised when I showed them recent sales. They purchased the condo about $14,000 above market value.
None of these situations are the result of decreasing values or down economic times. All are cases of making poor investment choices.
There are two words to remember in land investments: unique and limited supply. For investment, it crucial to buy something that is not ordinary and has a finite supply. For example a lakefront lot in an area where most of the lots around the lake are already built upon is a good investment. Another scenario would be to buy one of the last available vacant lots in a popular subdivision. An additional suggestion would be to buy raw land on the edge of town where expansion is likely to occur.
Another word of caution, get the advice of a Realtor. Talking to a developer or for-sale-by-owner only will yield a one-sided opinion. A Realtor will have access to a multitude of properties and can produce facts and figures to compare different parcels.
Recently, the Taney County Commission approved a program that could save county residents thousands of dollars on prescription drugs each month.
This drug plan is through the National Association of Counties pharmaceutical program. As a member of the association, the county can take advantage of the program, at no cost. The commission voted to adopt the program and make the cards available to county residents free of charge.
The cards will be available to anyone who is a resident of the county. Cardholders can expect to save between 10 and 22 percent off the cash price of prescription drugs.
Just one more reason that Taney County is a great place to live!
How much should you offerwhen writing a contract to purchase a home?
This is an area where it pays to listen a professional. Your Realtor can show you data on comparable properties that have recently sold and the price per square foot.
Also, a Realtor has access to statistics such as the sale to list price difference. This is the percentage that homes have sold for as compared to the asking price.
Many prospective buyers have convinced themselves that sellers are willing to accept 25%-30% off their asking price. In the majority of cases, this just isn't true, at least not in the Branson/Tri-Lakes area.
While it is a fact that some homes are overpriced, this is usually due to an owner's unwillingness to listen to the Realtor's price suggestion. It's more common to see overpriced homes sit on the market until the listing expires and then see the home back on the market at a more realistic price; than it is to see the sellers accept an extremely low offer.
To illustrate this point, listed below are the Average Sale to List Percentages from the Tri-Lakes Board of Realtors:
2005: 96.3%
2006: 96.8%
2007: 96.3%
2008: 94.1%
2009: 94.5% (January and February)
These statistics show that, even though the number of sales are lower than they were three or four years ago, you probably won't make any progress offering less than 90% of asking price on your initial offer.
Remember that the seller's price is usually the result of a market analysis made by the Realtor, showing the owner prices of comparative homes that have sold. Also, unless the seller paid cash when purchasing the home or has since paid off their loan, the price has to be high enough to pay off the lender and as well as the fees incurred to sell the home.
With this being said, there are still some great deals to be had. You just have to realize that the price is probably already at or near its fair market value.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
In addition to its scenic 18 holes, you'll enjoy the abundant wildlife and natural beauty of the Ozarks. Take a stroll on the nature trail to see bald eagles and the beautiful lake below the course.
as flat lots are few and far between in this area. You will want your builder or excavator to examine the lot and possibly take shots of the slope of the elevation. It can sometimes cost thousands of dollars to add enough fill-dirt and/or rock to be able to start construction if the slope is too steep.
;)
;)
