The Spring Real Estate Market in Shell Knob
You have decided that you want to buy a lake house in Shell Knob this year. You've heard about a drop in home sales, the over inflated real estate market is in a slump, and it sounds like bargains to be had, or so all the news media people would have us believe. Dollar signs flash before your eyes. People will be begging you to take their property off their hands, right? Wellllll ....maybe, and then again, maybe not.
Early springtime is a good time to look at lake property here at Table Rock Lake in Shell Knob. When the Boat shows end and spring fishing begins, a lot of people are not thinking about hot summer weather and cool refreshing lake water.
There is not as much competition from other buyers looking at the same house with a view that you are considering.
This is the time to buy that second home, a vacation home, maybe a future retirement home. Your accountant tells you that you could use another tax deduction. The mortgage interest is deductible on a second home. You've always dreamed about that perfect cottage where you can go right out your front door and pop that fishing line in the water.
This might eventually evolve into your retirement location. Hallmark moments drift into your thoughts. So what's stopping you from participating in this bonanza?
For one thing, it doesn't really exist in the Ozarks. Sure, some prices have dropped, and yes, there are properties sitting unsold for several months, but bargains are few and far between. Were these homes priced wrong to begin with? Maybe. There are always some individuals, depending upon their need to sell and their circumstances, who might wheel and deal price wise, however, there hasn't actually been a large amount of discounting taking place here. In the last 30 days, the difference between the listed price and actual sale price has only been 3%. It seems that homes over $350,000 are sitting unsold longer than the $200,000 offerings.
Some areas of the country have huge unsold inventories of property, but in Stone and Barry Counties, basically the Shell Knob area, this is not so. In fact, our inventory of available properties is small and quite stagnant. Property owners here are sitting out the lull in sales.
Sellers may be waiting for the prices to rise again before putting their homes on the market, and yes, inflation is going to continue, but in a much more moderate percentage. So the question is, as it always has been, Is this the right time to get a good deal on a house? My answer would be yes. What it still boils down to is when you walk into a property for sale, DO YOU LOVE IT?
Do you want to wait for prices to hopefully come down, and see the home you really, really wanted, sell to someone else? Or do you want to wait for the natural inflation to come back and pay 3-5% more for the same house you could get today for that much less?
There is an old old saying: A bird in hand is worth two in the bush. Don't let the house you love get away.
For additional information, call Joan toll-free at 888-823-4125