The Berra's Lake of the Ozarks Real Estate Blog

Missouri is in the minority in the United States as far as having a real estate transfer tax, and we hope it stays that way. It is presently one of only 13 states that do not impose transfer taxes. A real estate transfer tax is a one-time tax paid at the closing of the property. Like a sales tax, a transfer tax would charge every seller a percentage of the total sales price. In some states, it is as high as 4% of the sales price.

The Missouri government currently has the power to enact a transfer tax at any time, but the Missouri Association of Realtors is leading the charge to amend the state constitution and prohibit the real estate transfer tax for good.

A 2010 ballot initiative is already in place. A "YES" vote means changing the Missouri Constitution to prevent the state or local government from ever charging new taxes on the sale of a home or property.

For additional information, go to www.yestosavehomes.com

Here are some of the odd bets people are taking on Super Bowl 2010. They may not be good bets, but they are creative.

1. How long will it take for Carrie Underwood to sing the National Anthem?

2. How many times will CBS show Kim Kardashian?

3. How many times will you hear the word Katrina?

4. How many times will they show Archie Manning during the game?

5. What color Gatorade will be dumped on the winning coach?

6. How many times will they show Bourbon Street during the game?

7. How many times will they use the word "underdog"?

9. Who will the Super Bowl MVP thank first?

10. Will a member of the "Who" smash a guitar during the halftime show?

11. Will a member of the "Who" break a hip during the halftime show?

12. Will the "Who" even make it to the halftime show?

Enjoy the Game!

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