Short term real estate forecast for the Lake of the Ozarks is anyone's guess.
In a typical market, it's always easy to predict home-buying patterns in and around the Lake of the Ozarks and to advise homeowners accordingly.
Typically, at the first sign of spring, inventories will begin to swell in anticipation of the busiest season. By mid-summer, even though inventories are lower, homeowners and agents will begin to consider price reductions, as they ready their properties for the savvy end-of-season bargain hunters.
From Mid-November thru February agents would be spending more weekends at home finishing long-neglected projects, getting their records ready for tax season, and flying south to enjoy a couple weeks at their favorite beachfront resort.
That's the way it tends to go in a typical market. But this, of course, is no typical market.
I spent much of this weekend reading market forecasts throughout the US, listening to interviews of economists, and reading the discussions online between realtors. Such a wide range of expectations I found ranging from the cheerful optimists to Chicken Little's "the sky is falling!". I opened my computer this morning with no stronger a sense of what our local market will look like in a few months than I had prior.
I honestly can't say whether home prices will continue to fall, or if they will begin to stabilize.
I can't predict whether banks will be lending in April, and if so, at what interest rates.
When clients ask me, "Should I list my home now, or wait?", I have no charts and graphs (and certainly no consensus) to rely upon.
And so I'm left to simply continue doing as I always have: gathering and providing the most recent market information available for their particular property - and based on those numbers, strongly recommending they price their home competitively.
Armed with good information, and depending on their needs, my clients will decide what is best for them.
I don't believe in offering the rosiest of scenarios, or promising anything just to put another sign on a lawn for advertising. At the same time I understand well the importance of a positive and enthusiastic outlook. But it's important to balance a positive outlook with realistic expectations.
Giving my clients the best market data available pertinent to their property and situation, and then marketing it aggressively and effectively once listed, continues to be the best ways I can assist them in such uncertain times.
[This article originally appeared at: www.PostcardsFromTheLake.com ]