Tips to Winterize your Vacation Home

It’s about time the fall temperatures have shown up! Fall at Lake of the Ozarks is a beautiful season offering fun events, cool temperatures, and gorgeous scenery. However, it also means that you could have some down time to accomplish those tasks on your to-do list for winterizing your vacation home. Here are a few things you need to remember as the months begin to loom, and how you can protect your vacation home at Lake of the Ozarks during the off-season.

Unplug Appliances

Now is a great time to clean, protect, and shut off the appliances in your vacation home. This will include fridges, washers, dryers, dishwashers, and ACs. If you are not sure how to Winterize your air conditioner, you can either do some research online or hire a company to take care of it for you.

 

Turn Off the Water

If you want to prevent water leaks and indoor flooding this Winter, you will want to turn off the water at the mainline. This is an important step and one you will not want to forget. It is not hard to turn it back on if you decide to come back to your vacation home during the Winter months.

Wrap Your Pipes

Wrapping pipes under the sink and in a basement, as well as anywhere else around your home can be a huge help. Look for wraps that are made from fiberglass, foam and foil, foam, or rubber to provide proper insulation to your pipes over the Winter. This can conserve energy and save money, but can also protect against any freezing temperatures that we may experience this Winter.

Drain the Pipes

This is incredibly important when you will not be in your home for a season. You may even want to hire a professional to come to drain your hot water heater, to clear the pipes of water, and to shut off propane or natural gas.

Clean the Gutters

After the leaves have fallen, it is a great time to clean out the gutters and downspouts. You can install downspout guards, screens, snap-in gutter screens, and mesh gutter guards to help prevent water damage from ice dams and puddles on the roof, and around your foundation.

Winterize Outside, Too!

Do not forget to drain all outside hoses, disconnect them, roll them up and store them. Cover all outdoor faucets with foam or hard plastic covers as well. The foam covers keep outdoor faucets from freezing during the colder temperatures, and the hard plastic covers can provide additional protection from the weather and small curious animals.

Outdoor Appliances

You should also disconnect the outdoor appliances, like fountains, bug zappers, and even the satellite dishes. You can secure them with plastic or store them indoors to protect against the cold weather.

Outdoor Furniture

Storing your outdoor furniture, raised garden beds, plant post, grills, tools, and other outdoor items inside is also a great precaution. If you cannot bring them indoors, you can always cover them with plastic and secure them in a wind-free location.

Find An Exterminator

Finally, this is a great time to schedule an exterminator to continue pest inspections and pest control through the Winter.

Photo Credit: Fun Lake

Time to Get Started!

Fall is in full swing, so now is the perfect time to make sure that your vacation home at the Lake is ready to withstand the upcoming months! If you do not have a vacation home at Lake of the Ozarks, now is the perfect time to start looking. The market has been doing some great things for home buyers, and off-season is commonly accepted as the best time to buy a home. Ready to get started? Team Lasson can help you get started on your mortgage at Lake of the Ozarks!

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Michael Lasson

Senior Loan Officer

NMLS #: 493712

4655 B Osage Beach Parkway

Osage Beach, MO 65065

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

 

Owning a Home at the Lake

Lake of the Ozarks is an amazing place to own a home. Our beautiful area is renowned across the nation as the vacation destination of the Midwest! Team Lasson is here to tell you that your dream of living at Lake of the Ozarks is certainly attainable. Yes, there are prestigious areas at Lake of the Ozarks- where the barriers to entry are extravagant, however, much of the Lake is more affordable than you may realize. Team Lasson loves Lake of the Ozarks and would be honored to assist you in financing your home at the Lake to make your dream of living the Lake life come true. Keep reading to find out more about how you can make the Lake area your new home!

Photo Credit: Fun Lake

AFFORDABILITY

While you will see numerous million-dollar homes lining the shoreline at Lake of the Ozarks, much of the housing market here is well within your typical price range for a home in Missouri. Currently, the median home cost in Missouri is $196,746, and the median home price at Lake of the Ozarks is $299,500. Yes, that is still a pretty penny, but think about what you are getting with that price tag as well. The beautiful scenery, an epic summer life, moments away from outdoor adventure, all while remaining close to major city hubs. Lake of the Ozarks is large enough for convenience and activity, yet small enough for privacy.

 

OPPORTUNITY

As the vacation destination of the Midwest, Lake of the Ozarks holds great opportunities for those that own property here, like being close to the action via land or water, investment home opportunities, having a dedicated vacation spot, or being secluded, depending on your preferences. We will dive further into these opportunities below.

 

INVESTMENTS

As mentioned above, being the vacation destination of the Midwest gives Lake of the Ozarks a competitive advantage when you are looking into investment homes, or even just a way to rent out your vacation home part-time to earn some income or pay the mortgage. The housing market at Lake of the Ozarks is like no other. Every home and lot is unique, giving the "one-of-a-kind" appeal to your property/investment - a great selling point for potential renters/buyers.

 

ENTERTAINMENT

The summer season at the Lake is known nationwide and attracts masses of vacationers. The reason for this is the entertainment here is simply awe-inspiring. Take the small community vibe and hospitality, and mix that with the resources to put on stellar performances and events, you end up with an experience that can only be found at Lake of the Ozarks. From fun for the whole family to your more adult-friendly atmospheres, Lake of the Ozarks has something for all to enjoy, year-round.

 

EDUCATION

With many of the Lake’s citizens being second homeowners, and the impact that tourism has on Lake of the Ozarks can provide the Lake with the resources it needs to offer an outstanding education system. Continually producing above average results in regard to the state of Missouri, two out of three high school graduates go on to pursue higher education. The Lake's education system consists of state-of-the-art technical career centers, along with community and satellite colleges.

 

HEALTHCARE

The healthcare system at Lake of the Ozarks is also second to none. Being centrally located between two major city hubs, St. Louis, and Kansas City, provides the Lake access to high-tech medical equipment and connections that allow it to function as efficiently and effectively as it does. The healthcare system here can deal with all incoming needs of its community the moment they walk through the door. So, there is no need to ship patients seeking help all across Missouri – they will take care of you in-house with a dedicated team and the latest technologies available.

Photo Credit: Fun Lake

Lake of the Ozarks, to put it simply, is an astonishing place to live. When you own a home at Lake of the Ozarks, you get to enjoy the convenience of being at the heart of the action during the busy and prosperous summer season, not missing an ounce of fun. While enjoying a quiet, leisurely atmosphere, taking in all the beauty that the Lake has to offer during the off-season. The Lake is the perfect mix of exhilarating entertainment, comforting convenience, and leisurely Lake living all in one beautiful package. If you are ready to get in on the Lake life and secure your mortgage at Lake of the Ozarks, Team Lasson is ready and willing to extend our years of service to you!

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Michael Lasson

Senior Loan Officer

NMLS #: 493712

4655 B Osage Beach Parkway

Osage Beach, MO 65065

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Tips for Building Your Credit Score

Your credit score will play a large role in getting your home loan, which means that paying attention to it and working to build it can be valuable. Your credit score will be used to determine your financial trustworthiness, and even if you aren’t thinking about buying a house right now, it can take time and planning to build it. Team Lasson has a few tips to help you make sure that you are working for the benefit of your credit score!

Watch Your Card Balances

One of the biggest things that you will want to watch is that you keep your credit card balances low. One of the major factors in determining your credit score is how much of that available credit you’re actually using. A good rule of thumb is the smaller the percentage the better, and an ideal percentage would be around 30% or lower. Another tip is to see if your credit card issuer will accept multiple payments throughout the month in order to get that statement balance down.

Consolidate Credit Card Debt

If you have multiple cards with small balances on each one, a good way that you can aim to improve your credit score is to get rid of those balances completely. An interesting factor that plays a role in determining your credit score is simply how many cards you have with balances.

Keep Your Credit Looking Strong

Two issues that can sink your credit or cause you to look risky are missing payments or suddenly paying less or charging more than you normally do. These actions can indicate risk in your accounts and could make it more challenging for your loan to go through. Essentially, you want every purchase to show that you are not going to be a risky investment and that you will pay the money back with timely payments.

Keep Accounts Open and Don’t Open New Ones

Did you know that closing unused credit cards will not raise your score? In fact, in most cases, it can cause your utilization rate to dramatically increase. On the other hand, you don’t want to open many new accounts while you are in the process of raising your credit score as this could reduce your utilization rate and backfire on you. Just keep a slow and steady pace and know that every step you take in the right direction will help get you there.

Pay Bills On Time

When planning to purchase a home at Lake of the Ozarks, you may be saving up money, but don’t let that savings spree delay your monthly expenses. It’s important to continue to pay your bills on time, as paying them after the due date can affect your credit score. Remember that even if you have a large sum of money in savings, a drop in your credit score due to not paying your bills on time could cause issues with your home purchase.

In general, building your credit score is about fixing errors in your credit history and then maintaining a consistent, good credit history from there on out. Raising your credit score will take patience and discipline, but it will all be worth it when you get to buy a dream home at Lake of the Ozarks. If you're thinking about applying for a home loan at Lake of the Ozarks anytime soon, contact me at 573-746-7211. As your Lake of the Ozarks mortgage lender, I'll work with you every step of the way!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Senior Loan Officer

NMLS #: 493712

4655 B Osage Beach Parkway

Osage Beach, MO 65065

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

The Best Time to Buy a Lake Home

The question that is burning on everyone’s mind, "When is the best time to buy a Lake home?” There are many factors at play when it comes to choosing a time to buy, and they could depend on the market, what is available, and even the interest rates. Let’s take a look at some of these factors to help guide you into the best choice for you and your buying needs.

Things to Remember When Buying During Peak Season

There can be many highlights to purchasing a home during the peak season. For the Lake area, peak season runs from Memorial Day to Labor Day, with a little padding on the ends. One of the most popular reasons for purchasing during the peak season is because there are generally more homes on the market. However, this year is a little different. Not only are there often more to choose from during the peak buying season, but due to current events, the interest rates are fantastic.

There are, of course, a few cons to purchasing a vacation home at Lake of the Ozarks during the busy Summer season. Greater demand can also bring more competition, and more competition can increase the price of a home. Homes also sell a lot faster during the peak season as everyone wants to get a contract on their favorite listing before any others do. You may also find the prices are higher during the peak season because of the higher competition. 

Things to Remember When Buying During the Off-Season

Off-season at Lake of the Ozarks is through the later Fall months into early Spring. Obviously, there is still traffic all through the year as different hobbyists and homeowners enjoy the quiet serenity of the Lake through those months, but it is definitely more toned down. Some of the pros of buying during the off-season are that you can generally get a home with very little competition. Most people are not thinking about buying a vacation home at Lake of the Ozarks during the Winter, so you should not have the same level of bidding wars during this time of the year. Purchasing a Lake home during the Winter also allows you to see what the area looks like when things are slower and more relaxed. Granted, with the holidays happening there is still a lot going on at the Lake, but it is certainly not like busy Summer weekends.

Some downsides to purchasing a vacation home in the Winter can be as simple as not being able to tour the home when scheduled because of weather. Lake levels are also generally lower through the off-season and the wildlife and plants are hibernating, so the environment definitely has a different feel than it does during the hustle-bustle of Summer.

When Do You Want to Buy?

In the end, the best time to buy a vacation home at Lake of the Ozarks comes down to two things.

• When are you ready to buy?
• What homes are available?

If you have the money ready, and there are a few homes on the market that look like they could be perfect for you, then NOW is the best time to buy! Team Lasson has been assisting so many homebuyers as they secure their dream vacation homes this Summer. Interest rates have been phenomenal, so if you have been considering the purchase of a vacation home, there is no time like the present. You can visit our website to learn more about us at Lake of the Ozarks or fill out an application to get started!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Senior Loan Officer

NMLS #: 493712

4655 B Osage Beach Parkway

Osage Beach, MO 65065

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Reasons to Buy a Second Home NOW

Are you thinking about buying a second home at the Lake of the Ozarks? There are many reasons why now is such an incredible time to make your purchase. Team Lasson is your resident mortgage lender at the Lake of the Ozarks, and we want to provide you with the information that you need to help you make the best decision about your real estate purchase. Here are a few reasons why NOW is an incredible time to buy a vacation home at the Lake of the Ozarks!

The Federal Reserve

If you have not been paying attention to the Federal Reserve in the last week, they cut the Fed Funds Rate by .25% to 2.25%, which was the first rate cut in 10 years. While many are wondering why the home loans rates are not declining by .25% parallel to the fed action, there are some good reasons why. While the FFR (Fed Funds Rate) has no effect whatsoever on home loan rates, they are driven by pricing and trading action in mortgage-backed securities. These tend to ebb and flow with the direction of the US 10-Year Note.

The interesting thing to note, though, is that since last November up until last Wednesday’s Fed rate cut, home loan rates have declined by over 1.00%. Home loan rates are already declining by so much!

In the end, all of this means that home loan rates are near three-year lows and, thanks to low inflation, the slowing growth around the globe, and the U.S./China trade war renewed, rates may likely go lower still.

Take Season Into Consideration

As the Summer season starts to come to a close, this could be a huge asset to you in your home hunting ventures. The advantage of buying after the close of a busy season is that you may just find a really good deal on the home of your dreams. Not to mention, the Fall season will be creeping up soon, and the Lake of the Ozarks was voted one of the best places in the country to enjoy the changing colors!

Now is the perfect time to purchase your new home or condo!

You Can Close Before the End of the Year

For those who are purchasing homes exclusively for personal enjoyment, closing in 2019 could provide some great benefits! Generally, you can deduct your mortgage interest and real estate taxes, the same as you would on a primary residence. By getting your vacation home purchased now, you still have time to make payments and build up the mortgage interest before the end of the year!

Vacation Properties at the Lake of the Ozarks

If you are considering a purchase, you may want to think about it sooner rather than later. Team Lasson feels that NOW is a great time to buy a home, and we would love to help you through the process. Visit our website at www.yourlakeloan.com, to learn more about us, or give us a call to schedule an appointment. We would love to chat with you about your goals!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Senior Loan Officer

NMLS #: 493712

4655 B Osage Beach Parkway

Osage Beach, MO 65065

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Reasons to Refinance

As your Lake of the Ozarks Mortgage company, we see many different people with many different real estate goals., such as purchasing a vacation home or primary residence at the Lake of the Ozarks, a recreational property (for hunting, or ATV riding), and even a simple refinance. You may not have considered refinancing your home, but there can be many beneficial reasons to do this. If you are even slightly considering this step, keep reading! Now is a great time to buy a new property or refinance the one you already own.

You Could Get a Better Interest Rate & Payment

One of the biggest reasons to refinance is to secure a lower interest rate and save money on your monthly mortgage payment, as well as the total amount of interest paid over the time of the loan. Because this is generally the most popular reason for refinancing, it’s not hard to focus on the rates and fees without realizing that you can sometimes save more by structuring your loan properly and creating a plan to determine when to lock, at what rate, and for how long. Do you have questions about this? We would be glad to answer those questions and discuss your options!

Reduce or Shorten PMI

It’s been over six years since the Federal Housing Administration (FHA) changed the way it required mortgage insurance for the life of the loan if you put less than 20 percent down. If you refinance to a lower rate and shorten the loan by a few years to a 15-20 year refinance, you may be able to get rid of your private mortgage insurance!

Cash Out

If you can reduce the interest rate on your mortgage, and still take cash out of your home to pay off bills or make home improvements, then a cash-out refinance may make sense for you. This usually involves refinancing your mortgage for a larger sum than what you currently owe and using the equity in your house as collateral. It’s worth looking into, because you may be able to qualify for up to 80 percent of the home’s value.

The money from the cash-out can be used to pay off high-interest debt or making home improvements to further invest in your home!

Reduce Loan Term

If a loan has a shorter term, it can often have a better interest rate. This means that shortening the term of the loan can significantly decrease the amount paid over the life of the loan. With rates being so low today, you could possibly refinance into a 15 year term and have the same monthly payment you had on your 30 year mortgage.

Buy-Out Other Owners

One of the most common situations that we see this happen in is when there are multiple owners on a property. In the event of a divorce, one spouse must refinance the other off the existing loan if they keep the home. But this can also happen if you own a home with a friend, relative, significant other, or a business partner.

Ready to Refinance?

If you think that refinancing your home at the Lake of the Ozarks would be the best choice for you, let’s talk. Visit our website to learn more about our mortgage company at the Lake of the Ozarks (www.YourLakeLoan.com), or submit an application to get started. We would be glad to assist you through this process. Now is a great time to get your home refinanced, or to buy a new home. The Fed is about to cut rates at the end of the month, and that does not guarantee home loan rates will move lower. In many cases, home loan rates ticked up a bit. Need to talk to mortgage professionals? Team Lasson is here to help!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Senior Loan Officer

NMLS #: 493712

4655 B Osage Beach Parkway

Osage Beach, MO 65065

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Summer Home Buying Tips

The Summer season is officially underway, at least, it is at the Lake of the Ozarks! Memorial Day has always been the summer kick-off around here, but the “official” day is not too far off either (June 21st). At Team Lasson, we believe that it is always a great time to buy a home at the Lake of the Ozarks. So, whether you vacationed with us this past Memorial Day weekend and realized that you never wanted to leave, or you have been considering buying a vacation home at the Lake of the Ozarks for a while - here are a few buying tips for you!

Choose Your Location

We have already established that you would like to buy a home at the Lake of the Ozarks, but have you considered which area of the Lake? There are many different regions around the Lake, and they all have different advantages. If you are not sure where to choose, you can check out a blog we did last month that covers the different areas and what they have to offer - 5 Locations for Your Vacation Home at the Lake of the Ozarks.

Visit Your Vacation Location First

The Lake of the Ozarks is filled with beautiful homes and attractions and now is a great time to visit! Buying a vacation home at the Lake is obviously a big decision, if you have not spent a lot of time here, summer is the perfect opportunity. Pick a vacation home on the side of town that you have been thinking about. You will get a great idea of what the traffic is like, which restaurants and stores you will frequent, and even what the nightlife is like!

Make Your Budget

There are many different strategies for buying a vacation home, and Team Lasson is here to help you find the best one for you. Start by filling out an application on our website www.yourlakeloan.com to get the ball rolling. Having a pre-approval is the first step to buying a home, but it is also a great step to help you figure out what works best for your budget.

Have An After Purchase Plan

Do you want to rent out your vacation home while you are not in it? Will you hire someone to come maintain and clean it through the off-season? There are plenty of decisions to consider while shopping for your vacation home, but thankfully there are numerous resources in our area to assist you with these items. The Lake area is very familiar with helping people manage their vacation rentals, while it is something to consider, it is not a definitive roadblock.

Time to Get Started!

It is always a great time to buy a vacation home, so if you have been considering it for a while, or only a few weeks - Team Lasson is ready to assist. Visit our website to learn more about our company at the Lake of the Ozarks. We have already had a very busy and successful year not only winning the Best of the Lake award, but also Missouri’s Best Mortgage Lender! It is been an honor and a pleasure serving this community. If you are ready to join us part-time or full-time, Team Lasson is ready to help!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Senior Loan Officer

NMLS #: 493712

4655 B Osage Beach Parkway

Osage Beach, MO 65065

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.