Common Home Buying Pitfalls to Avoid

Buying a home is an exciting time in the life of many, even if it is not your first home purchase. Our Lake of the Ozarks real estate agents know how important it is to find the perfect home for you and your family. As you start your home search near the Lake of the Ozarks, we want you to be aware of some common pitfalls that go hand-in-hand with buying a home.

Waiting to Get Pre-Approved

The pre-approval process does not take long, but it could lead to a homeowner missing out on making an offer on a hot property. It's best to get pre-approval BEFORE you even start looking at homes. This process helps you know exactly how much you can afford in a home and lets you and your REALTOR® know what price range to search within. Once it comes time to make an offer, a pre-approval letter can help you seem like a more serious buyer to the home seller.

Maxing Out Your Budget

When you do establish a budge for your home search, it's important to keep all of your expenses in check. Many homeowners will find a property at the top of their price range. While this is still within your price range, it can limit your budget for other life expenses.

Too Many Advice Outlets

When buying a home, family, friends, and real estate professionals all try to give their best advice for you to follow in the process. The tricky part is when all of these sources of advise start to contradict each other. Take a step back and really listen to the few sources that you fully trust, when searching for the perfect home for you and your family.

Skipping the Inspection Process

Some loans to not require a home inspection to be completed. While it may not be necessary for your financial source, it's a good idea to pay for an inspection of a property that you wish to purchase. A professional inspector can help to point out structural issues, that you may not even be aware of in a home. It's best to get an inspection to know exactly what the home you are interested in needs to be a safe place for you to live.

Getting Attached to a Home

It's great to find a home that you truly like, but getting your heart set on a certain property early in the process can be frustrating. You never know what will happen with the home - whether it doesn't pass inspection or the seller won't come off the asking price - try to stay positive during your home search and find the right home that is meant to be for you and your family.

Now that you know some of the most common pitfalls, you can work to avoid them when it comes time to search for your dream home. Steer clear of these home buying pitfalls when buying a home at the Lake of the Ozarks. If you are ready to jump into homeownership, contact Eagle's Nest Realty today. We look forward to helping you through the home buying process and help you reach your dreams of homeownership.

Call (573) 374-0769 to schedule a showing today!

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Tips to Appeal to Millennial Home Buyers

Do you have the perfect first home for a young couple or individual? It's time to focus on potential home buyers, as you prepare your home to sell. As your trusted real estate agents near Sunrise Beach, MO, we know how important it is to help your home for sale at the Lake of the Ozarks to appeal to your ideal buyer. This week's blog focuses on ways to help your home stand out to millennial home buyers at the Lake of the Ozarks.

Reach Your Audience

The typically millennial can be reached on their phone. Whether it's through a house search app or on social media, it's important to get your message where this group of buyers looks. As you find the right real estate agent for your home sale, ask about how they will market your home. Ensure your property can be easily found by your ideal buyer.

Consider Selling Furnished

For some millennials, this is going to be their first time out on their own. The cost of buying a home may be overwhelming enough for many. If you are in a position to do so, consider selling your home partially or fully furnished. This can entice a buyer who does not have much furniture of their own to be even more interested in your property.

Be Upfront About Your Space

Whether your home is move-in-ready or you have a fixer-upper property, be upfront about the condition of your home. Don't pre-judge a millennial in thinking they will write off a fixer-upper - more and more homeowners are interested in making their space uniquely theirs and don't mind putting in the time and effort to make updates to a home.

Stage Your Home for Entertaining

Millennials are typically social and like to entertain. Showcase your space as the ideal place to entertain! It's a great way to get this group of the buyer pool to show interest in your home. Consider placing our interior furniture in a way to promotes optimum socialization. When staging your space for optimum entertainment, don't forget about the exterior too. Showcase a fire pit or a social setting for your deck or patio.

Create an Open Feel

Even if you don't have a completely open floor plan, stage your space to FEEL open. With the ease of traffic flow through your living room and a kitchen that is easy to maneuver through, think about your potential buyers are you get your home ready to sell.

Are you ready to start making changes around your space? Now that you have this lists of ideas to help your space better appeal to millennials, you're know exactly what you need to do! If you'd like to sell your home at the Lake of the Ozarks, we can help you through the entire process. Contact Eagle's Nest Realty today to get started!

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FAQs When Buying a Home

When buying a home, especially if you’re a first-time homebuyer at the Lake of the Ozarks, you probably have a lot of questions. Today’s blog from your favorite real estate team at the Lake of the Ozarks offers some insight into some of the most frequently asked questions about home buying.

1. Should I Talk to a Lender Before Looking for a House?

Answer: The answer is yes! The first step in the home buying process is to talk to a mortgage lender and get a mortgage pre-approval. Not only does a pre-approval help you determine how much you can afford in a home, but you’ll also be one step ahead of other buyers. Having a pre-approval tells both your REALTOR® and the seller that you are serious about purchasing a home at the Lake of the Ozarks.

2. Do I Really Need a REALTOR® When Buying a Home?

Answer: While many people feel they can cut costs by not hiring a Lake of the Ozarks REALTOR®, that’s usually never the case. Local real estate agents have the knowledge and expertise to find you a great deal. They know the market, they know what homes are worth and they know how to negotiate with buyers. Attempting to buy a home without a real estate professionals help can make the process quite difficult. Plus, in most cases, the seller pays the REALTOR® fees.

3. What Kind of Credit Score Do I Need to Buy a Home?

Answer: The better your credit, the better deal you’re going to be able to get. Your credit score is one of the biggest determining factors in what interest rate your mortgage lender will offer you. While there are programs out there to help those with low credit scores, having a score above 620 is going to be best. Different loan programs will have minimum requirements for credit score, so talk to your lender about what options are available to you.

4. How Much Money Do I Need for a Down Payment?

Answer: Traditionally, you were required to put down at least 20% when buying a home. Today, programs are available to help people get into homes with as little as 3-5% down. Just keep in mind that the more money you can put down, the better deal you’re likely to get and the more equity you already have built up in your house. You’ll also want to know that anything less than 20% down typically requires you to pay PMI, or private mortgage insurance. This is an insurance that protects the lender if you default on the loan.

5. How Many Homes Should I Look at Before Making an Offer?

Answer: The answer is simple; there’s no set number of homes you should look at before making an offer. Some people find their home within hours, while others search for months. When you find a home that you like, at the right price, go ahead and make an offer. Your trusted real estate agent at the Lake of the Ozarks will be able to offer you advice about making an offer on the particular home you are looking at. If someone else is interested in the same house, you’ll want to make an offer as soon as possible, not waste time looking at other homes.

Whether you are moving down the street or relocating to the Lake of the Ozarks, Eagles Nest Realty has the expertise and resources to help you find the perfect home! We work closely with our clients to understand your real estate needs, and to answer all your questions about the home buying process. Our goal is to help you find the best home at the best possible price. Give us a call at 877-452-5338 to get started today!

Call (573) 374-0769 to schedule a showing today!

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Preparing to Apply for a Home Loan

If you’re looking to buy a home at the Lake of the Ozarks, chances are you are going to need to finance the purchase. Applying for a home loan requires some preparation, and there are several documents that you will want to gather before starting the home loan process. Keep reading to learn how you can start preparing now. As your Lake of the Ozarks real estate agent, I'm here to help you every step of the way!

Income & Employment Verification 

In order to be approved for a home loan, you will need to provide information on your employment and income. If you collect a paycheck, you will be required to show your W-2 forms from the previous two years. In addition, you’ll be asked to show your most recent pay stub to show that you are still employed and are making at least the same, if not more, amount of money. If you own your own business, you will need to provide a profit and loss statement or 1099 forms. You will also be asked to provide your most recent federal tax return, and possibly the last two years’ tax returns. The lender needs to make sure you can afford your monthly mortgage payments.

Debt Information 

Another important factor in the loan approval process is the amount of debt you have. A mortgage lender will use your current debt information to determine the risk involved with lending you money. You will be asked to provide a complete list of your debts, such as credit cards, student loans, car loans and child support payments, along with minimum monthly payments and balances. Your debt-to-income ratio, as well as your credit history will be evaluated. These factors will be used to determine not only your risk level, but also what interest rates are available to you personally. The better your credit score, the better your rates will be.

Depending on your unique financial situation, additional documentation may be required for your loan application. Talk to a professional mortgage lender to learn more. As your premier real estate agent at the Lake of the Ozarks, I can recommended lenders that I've worked with in the past. For all your home buying needs, trust Eagle's Nest Realty!

Call (573) 374-0769 to schedule a showing today!

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Holiday Lights to Admire Around the Lake of the Ozarks

The Lake of the Ozarks is a great place to live! Whether you enjoy all the hustle and bustle of the summer months or long to relax during the less-hectic winter, there are a number of activities to enjoy year-round. This time of year, Christmas lights can help get you and your family into the holiday spirit. As the best real estate agents in Sunrise Beach, MO, we've provided information about area holiday light displays!

Enchanted Village of Lights

Photo Credit: Fun Lake

Located at the Laurie Fairgrounds, this impressive holiday light display takes place from November 17th through January 1st. Open nightly from 5:00-9:00 pm, bring your entire family out to enjoy the beautiful light display throughout the fairgrounds. An at-will donation can be made as you exit the light display.

St. Patrick's Festival of Lights

Head to the Shrine of St. Patrick in Laurie, MO for a breathtaking light display for you to enjoy from November 23rd to January 1st. With over 4,000 strands of lights, it's a spectacular display, free for the community to enjoy nightly from 6:00-10:00 pm.

Versailles Unity Circle of Lights

Visit the Versailles City Park from November 25th to January 1st to enjoy the beautiful drive-through Christmas light display. Bring the entire family out for over 40 light displays. Kick off the holiday season by coming out to view this sparkling light display!

Photo Credit: Fun Lake

Osage Beach Holiday Lights in the Park

Drive through the Osage Beach Park to from November 25th through December 31st for a free light display. Enjoy the sparkling holiday lights that fill the park and can help you and your family get into the holiday spirit. Over 100 holiday light displays can be found and even more can be viewed along Osage Beach Parkway throughout the city. Don't miss out on these great displays to help you get into the Christmas spirit!

Which Christmas light display are you going to visit first? As your trusted real estate agents at the Lake of the Ozarks, we know how much fun it can be to attend these festive holiday light displays. They are just one of the many perks of living at the Lake of the Ozarks. If you are just visiting the area, you may start to notice what a great place this is for a second home. Contact Eagle's Nest Realty today to start your search for a vacation home at the Lake of the Ozarks.

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5 Solid Reasons Why You Shouldn't FSBO

When it comes time to sell your home at the Lake of the Ozarks, you’ll need to decide if you’re going to hire a real estate agent to help you. Some homeowners believe that they can make more money off the sale of their home by selling it on their own. By avoiding the real estate agent’s commission, you’ll be able to keep more money right? Not necessarily. Keep reading for some solid reasons why you shouldn’t FSBO, or “For Sale By Owner.”

1. FSBOs Generally Sell for Less. 

On average, homes sold by a real estate agent sell for more than the FSBOs do. The right agent will be able to price your property to get the most money in the shortest time. That can get you 10-30% more net profit, and you’re only paying the selling agent 3% commission. Therefore, you’re not really getting more money out of the deal by opting out of hiring a professional real estate agent at the Lake of the Ozarks.

2. Marketing Opportunities are Limited for FSBOs. 

As an individual seller, you’re going to have more limited avenues of marketing. Sure, you can put a sign in your yard and post some pictures on Craigslist and Facebook, but that’s about it. FSBOs don’t get added to the MLS, which is where most buyers go to find a home, and other real estate agents go to find their buyers a home. They also don’t get printed in real estate magazines.

3. FSBOs Typically Sit On The Market Longer. 

Due to the lack of marketing, FSBOs will likely sit on the market longer. Sellers often don’t have the knowledge to price their home properly either, which can result in longer time on the market. Pricing it too high will keep buyers at bay, but pricing it too low conveys that there’s something wrong with the property. In addition, the longer it sits on the market, the less money you’ll get upon final sale.

4. Time Costs the Seller Money. 

Selling a home is a lot of work. Those that choose not to hire a real estate agent need to be prepared to sacrifice a lot of time. From staging and marketing to showing the home and negotiating terms, FSBOs require hard work if you actually want to get it sold. Leave it up to the professionals to do that work and you’ll save time and be a lot less stressed.

5. Sellers Don’t Have the Market Knowledge.  

Real estate agents sell homes for a living; they went to school for it. They are constantly involved in the market and keep up on new trends, etc. When you sell your home without an agent, you’re risking liability issues. Any mistakes you make can cost you greatly. Agents have something called E&O (Errors & Omissions) Insurance that protects them when mistakes are made in contracts.

Avoiding the hassle and hiring an agent to help you is the best route to go! If you’re in need of a qualified Lake of the Ozarks real estate agent to sell your home, trust none other than Eagle’s Nest Realty! We have served the Lake of the Ozarks area for 15+ years, and have the experience needed to get your home sold at a great price! Give us a call at 573-374-0769 to discuss selling your home today.

Call (573) 374-0769 to schedule a showing today!

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Preparing Your Home for the Holidays

One of the best things about the holidays is being able to invite friends and family over to share it with. Opening your home to others creates a sense of connection and community, but preparing for your guests can take a bit of preparation. Don't be overwhelmed as you prepare your home for the holidays. Your trusted real estate agents in Sunrise Beach, MO are here to help! We've provided a list of things to do as you get your home ready for upcoming holiday gatherings.

Stock Up

Consider stocking up on paper goods and other products you may go through quickly with guests around. From paper towels to toilet paper and everything in between, buy plenty of these items ahead of time to avoid an unnecessary last minute dash to the store. Having plenty of these products on hand can help guests feel more welcome, and not like they have run you out of your paper goods!

Add Simple Decorations

Whether you're entertaining for Thanksgiving or Christmas, add decorations around your space to get into the spirit. From a simple acorn display in a jar topped with a candle to a classy Christmas tree displayed in the corner, there are a number of ways to help your home feel warm and cozy this holiday season. When you are decorating your home, be sure to keep safety in mind. Keep all decorations away from an open flame and avoid a blown fuse by ensuring you don't overload your outlets with Christmas lights.

Clean, Clean, Clean

As you welcome guests into your home, it's important to provide a clean space for them to gather. You don't want to be enjoying a holiday meal and look over at the coffee table to notice a layer of dust. If your guests are staying overnight, be sure to clean the guest room and any bathrooms that they may be using, as well. The holidays are a great time to showcase your home for your friends and family, therefore it's important to leave a good impression by giving it a good cleaning!

Grocery Shop Ahead 

As the host, you will likely prepare some of the food for your holiday feast. Plan out your meal ahead of time and complete your grocery shopping in plenty of time. This can help you focus on your home and actually cooking the meal, before guests arrive. It's a nice gesture to have the food ready when planned. Many people have various stops to make during the holiday season and it may put a damper on their plans if the meal at your home is running off schedule.

De-clutter Your Entry

Your entry way will be a high-traffic spot as your guests come and go. Try to keep this space as clean and clutter-free as possible. Also consider placing a bench in the entryway so your guests can easily take off and put on their shoes. This can also help reduce a tripping hazard if shoes are spread out around the entry way. Keep this space tidy for the safety of all of your guests!

If you are at the Lake of the Ozarks for the holidays, you may notice various properties for sale. Whether you're looking to upgrade or downgrade your home, relocate to the Lake of the Ozarks or simply want to invest in a second-home in the area, Eagle's Nest Realty can help. Give us a call at 573-374-0769 - we look forward to helping you find your dream home at the Lake of the Ozarks this holiday season!

Call (573) 374-0769 to schedule a showing today!

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