The Berra's Lake of the Ozarks Real Estate Blog

The market at the Lake of the Ozarks has been affected by the current recession and I have compiled the sales data of properties at the Lake for 2009 and compared that to the sales data for 2008.

CONDOS:

In 2008, 560 condos sold with an average sales price of $197,000.

In 2009, 440 condos sold with an average sales price of $170,500.

WATERFRONT HOMES:

In 2008, 505 waterfront homes sold with an avg. sales price of $353,500.

In 2009, 525 waterfront homes sold with an avg. sales price of $325,500.

OFF-WATER HOMES:

In 2008, 648 off-water homes sold with an avg. sales price of $129,500.

In 2009, 618 off-water homes sold with an avg. sales price of $117,500.

COMMERCIAL:

In 2008, 54 commercial properties sold with an avg. sales price of $440,000.

In 2009, 34 commercial properties sold with an avg. sales price of $231,000.

FARMS:

In 2008, 10 farms sold with an average sales price of $212,500.

In 2009, 20 farms sold with an average sales price of $313,000.

The actual number of condo sales, off-water homes sales and commercial sales decreased in 2009, while the number of sales of waterfront homes and farms increased. Average sales prices were down across the board. Even, with the troubled economy, these property classifications accounted for over 1,600 transactions.

*NOTE: THESE FIGURES ARE TAKEN FROM THE BAGNELL DAM ASSOCIATION OF REALTORS MLS.

1/10/2010

This may not be the best day to go boating on the Lake of the Ozarks. As you can see, much of the lake is frozen right now. This photo is taken from Palisades Condos on Horseshoe Bend.

1/10/2010

Probably not the best day for golf either. This photo is of hole # 18 at "The Cove" golf course located in Four Seasons. Better off with snow shoes.

Remember..only a few more months 'til Spring!

The Horny Toad's largest creditor, Valley View Bank, is now the new owner of the complex. The entertainment center just sold for $10,000,000 and the Resort and Yacht Club sold for $15,000,000. Valley View Bank was the only bidder on the property.

Leisure Hotels and Resorts of Kansas City, who had taken control of the daily operations of the complex since late October 2009, is working on a proposal for a new marketing and branding idea. This proposal is to be submitted to Valley View Bank in the next couple of weeks. Once approved, the transformation of the project will begin.

What is your take on this? Any thoughts of what would work for this property? New name? New ideas? New theme? Let us know what you think with your on-line comments.

Thanks,

Mike & Susie Berra