Get Pre-ApprovedThe first step to buying a home is getting pre-approved and learning how much of a house you can buy. You can estimate how much you can afford for a new home, but the best way to start is give us a call and start the mortgage process. Once you get that completed, you can take that information to your real estate agent and start looking for the perfect home at the Lake of the Ozarks.
Mortgage Rates May RiseWhile we can only predict what the mortgage rates will do in 2019, the experts are all saying that they will probably increase a bit in 2019. Mortgage rates should continue looking good, especially when you look at historical levels.
ARMs Will ChangeThere are many who expect a more meaningful shift to adjustable-rate mortgages in 2019. Because many homeowners move a lot more frequently than every 30 years, alternative programs may be a great fit for some homeowners. New buyers who are looking for cheaper financing could secure a 5/1 or 7/1 ARM in the 3% range, which may feel like a better move.
Homes Prices On the RiseYou can expect that the home prices will continue to rise in 2019 and beyond. It will only be a small percentage gain, but there will still be gains. Instead of the prices rising 10% year over year, though, you can expect them to rise 4-5% instead, depending on the area. If you’re planning on buying a home at the Lake of the Ozarks in 2019, earlier is always better. Now is a great time to buy a home at the Lake of the Ozarks, and our team would like to assist you in financing your new home!
A Big Home Buying Season This SpringIf you’re in the market to buy a home in 2019, you may find a tough go of it, since home prices will probably keep increasing. The competition may not be as fierce this year, but it will still remain, especially in popular areas (like the Lake of the Ozarks!). Inventory may creep up slightly, but sellers probably won’t be flooding the market because there is a lack of move-up inventory and the mortgage rate lock-in effect.
Millennial's are on the MoveMany millennial's are of the home buying age, and a lot of them are looking for real estate. The demand will be great for the market, but may not be so great for them when it comes to home prices. If you’re looking to sell a home at the Lake of the Ozarks, be sure that you are considering who will be buying your home. If you're appealing to millennial's, cater to them through smart design, technology, cool outdoor spaces, and easy driving distance to restaurants, bars, and coffee shops. However, some sellers will be appealing to Generation X when they are selling lakefront condos as the Lake of the Ozarks, or large million dollar homes on the lake. Either way, Team Lasson is here to help you through the financing process.
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Senior Loan Officer
NMLS #: 493712
4655 B Osage Beach Parkway
Osage Beach, MO 65065
**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.