Your Lake of the Ozarks Mortgage Lender: when is the best time to buy a house

Thursday, June 3, 2021

When is the Best Time to Buy A Lake Home?

It seems like everyone is flocking to Lake of the Ozarks and purchasing lake homes one after another, but the real question is, “When is the best time to buy a lake home?” There are many factors that come into play when you are choosing a time to buy, and they could depend on the market, what is available, and even the interest rates. The best mortgage lender at the lake is here this week to look at a few of these factors that will help guide you into the best choice for your buying needs.

What to Remember When Buying During Peak Season

There can be many highlights to purchasing a home during peak season. For the Lake of the Ozarks area, peak season runs from Memorial Day to Labor Day. 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 more homes to choose from during the peak buying season, but homes are selling faster than they are getting listed!

The competition for buying lake homes is through the roof. Homes sell a lot faster during the peak season as everyone wants to get a contract on their favorite listing before others do. You may also find the prices are higher during the peak season because of the higher competition.

What to Remember When Buying During the Off Season

Off season at Lake of the Ozarks is through the fall months into early spring. Although, during the past year there really was not much of an off season because so many people moved to the Lake area. There is still traffic all through the year as different homeowners enjoy the quiet serenity of the Lake during those months. Some of the pros of buying during the off season are that you can generally get a home with smaller competition. Purchasing a vacation home at Lake of the Ozarks during the winter allows you to see what the area looks like when things are slower and more relaxed.

A few downsides to purchasing a vacation home in the winter may be things like the lake levels being lower through the off season, the wildlife and plants hibernating, and the slower environment creating a different feel than it does during the hustle and bustle of summer.

When do You Want to Buy?

All in all, the best time to purchase a vacation home at Lake of the Ozarks comes down to two things:

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

As summer is arriving, if you have the money ready and find a home on the market that could be perfect for you, then now is the best time to buy! Team Lasson has been assisting many homebuyers as they secure their dream homes at the Lake. We are experiencing an incredible market as we speak, so if you have considered buying a vacation home at Lake of the Ozarks, visit our website to learn more about us and fill out an application to begin the process!

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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.

Tuesday, July 26, 2016

The Best Time of Year to Buy a Home

You've probably heard that spring is a busy time in the real estate world. People are jumping to get out and enjoy the outdoors after being cooped up all winter. Are those buyers really serious about buying a home at the Lake of the Ozarks though? In today's blog, your Lake of the Ozarks mortgage lender will discuss when the best time of year to buy is and why.

Buying a Home in the Spring

While spring is hands-down the busiest time in real estate, it's not necessarily the best time to buy. Why is that? Inventory might be at an all year high, but competition is also higher. With the increase of competition, comes higher home prices. Getting in a bidding war with other home buyers can easily cause you to pay more for that home than you would have if competition was lower. Home sellers are less likely to negotiate when multiple offers are coming in. According to data from RealtyTrac, April is the worst month to buy a house.

Buying a Home in the Fall

According to data from RealtyTrac, the month where buyers get the best deal is October. It's true that inventory might be lower during the fall season. However, buyers looking in the fall are more serious about buying. Competition is lower during the fall months and that makes negotiating easier. Those listing their homes in the fall are more motivated to sell, which makes it easier for you to get a home at a lower price than you might in the spring.

Pros and Cons to Buying in the Fall

Just like with everything in life, there are pros and cons to buying a home in the fall. Take a look at a few of them to determine if purchasing a home at the Lake of the Ozarks during the fall season seems like a good choice for you:

Pros

Sellers are serious. If they weren't, they would wait until the spring to put their home on the market. Motivated sellers means more flexibility during negotiations.
You'll have less competition from other buyers. Families, in particular, don't normally like to move during the fall season because school is in session. You'll have more time to look and more time to work out a deal without rushing to beat other offers.
Inventory is low. This could be looked at as a pro and a con. Lower inventory means that you have less homes to choose from, but that also makes it easier to narrow down your list of potential homes to buy.

Cons

You could experience bad weather. You're not going to want to get out and look at houses in bad weather. From rain to snow and sleet, nasty weather can easily put a damper on your house hunting.
Days are becoming shorter. Due to daylight savings time, buyers are forced to either take off work early or house hunt on the weekends to get it done before it gets dark out.

Summer is winding down and fall is just around the corner! Now is the time to get your mortgage pre-approval at the Lake of the Ozarks so you're ready to start house hunting. For all your Lake of the Ozarks home financing needs, give me a call at 573-746-7211. I'm here to help you every step of the way and get you into your dream home!

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

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Michael Lasson

Sr. Loan Officer

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049