Residential Sales 2009-2011
2012 is off and running. Interest rates are holding at a fantastic rate and interest in Lake of the Ozarks homes is gaining strength every day. Prudential Lake Ozark Realty had a record year in 2011 with over 200 units sold. As you can see from the above numbers, sales were up by only 51 homes around the lake. What has happened is that those companies and agents that work full time, utilize the latest marketing and internet methods and understand the market, are increasing their market share while those that are part-time, throw up a sign and hope it sells agents are not seeing any results. It is the old Pareto principle at work, but instead of 20% of the agents doing 80% of the business, it is closer to 5% of the agents doing 95% of the business.If you compare the Absorption rate, the number of months of inventory supply on hand for a given price range, you will see that the inventories have dropped considerably. What does this mean to you? It means that sooner, not later, prices will rise due to demand.Looking at the List to Sell Ratio, it bounces around higher than 2009 to lower, then higher than 2010 then lower, but always in between 90 and 94%. The latest trend however is up for August through November. December was down primarily due to fewer sales caused by normal seasonality at the lake.
Waterfront Home Sales 2009-2011
The sale of waterfront homes is up 12% over 2010!!! The good news if you are a buyer is that prices are down $7,000 from last year on average. The good news if you are a seller is from August on, the trend was up in price every month!
Condo Sales 2009-2011
The good news here is there are 35% less units on the market. Sales numbers are identical to 2010 with 472 closed but with the lowered inventory, the Absorption Rates are not as scary as they were last year and the List to Sell Ratio remains between 93.39% and 96.18% the entire year. So if you are looking to sell, know your competition, price it right and you will not have to sell at half price!
Public Workshops for Project Boundary at the Lake
Happy New Year!
As promised, Ameren Missouri has moved aggressively in developing and providing for public input on our plan for changes to the Project Boundary at Lake of the Ozarks. The plan should alleviate some community concerns over the Project Boundary issue facing property owners at the Lake of the Ozarks that have included some opinions that were based on misinformation. Ameren Missouri has committed to providing property owners with the facts about the issue and has released for public comment a draft Project Boundary amendment. The proposal is in response to an order by the Federal Energy Regulatory Commission dated Nov. 10. The new FERC order clarifies the agency’s position regarding structures within the Project Boundary – an elevation-based, Ameren Missouri-owned strip of land surrounding the Lake’s shoreline.
The order provides a framework for Ameren Missouri to do what the company had initially proposed to resolve the issue of encroachments within the Project Boundary – namely, to redraw the boundary, where appropriate, so the vast majority of properties currently identified as encroachments would no longer be considered as such and to work with the remaining property owners on a case-by-case basis to determine a solution. In its plan, Ameren Missouri proposes setting the Project Boundary to 662 feet elevation for most lakefront properties.
The proposal is available online at www.AmerenMissouri.com/Lake. Comments may also be made by calling 573.365.9203 or by mailing them to:
Project Boundary Comments
Ameren Missouri Shoreline Management
Post Office Box 993
Lake Ozark, MO 65049
Public workshops have been scheduled for resource agencies and the public to provide input about the proposal:
* Osage Beach
January 3, 2012 – 6-8 p.m.
Inn at the Grand Glaize
5142 Highway 54
Osage Beach, Missouri 65065
* Sunrise Beach
January 5, 2012 – 6-8 p.m.
Lake West Christian Academy
17178 N. State Highway 5
Sunrise Beach, Missouri 65079
The public is invited to comment on the plan until January 15, 2012. Ameren Missouri is moving aggressively to prepare its plan and submit it to the FERC in the first quarter of 2012, well ahead of the June, 2012, deadline set by the agency. “Our plan to revise the Project Boundary will alleviate many concerns homeowners have, and we have no intention of forcing the removal of residences located in whole or in part on Ameren-owned property,” Jeff Green, Shoreline supervisor for Ameren Missouri, said. “Additionally, the plan does not call for leasing land, structures or facilities back to affected property owners. Any rumors to the contrary are simply not true.” Green added that it is important to understand that there is a Project Boundary issue and a property ownership issue as well. “I encourage property and dwelling owners to seek out information about their specific circumstances and understand the ownership and conveyance history of their lake property.”
Ameren Missouri, formerly Union Electric, has owned the land that comprises the Lake of the Ozarks since it built Bagnell Dam and the Osage Renewable Energy Center in the late 1920s. The U.S. Army Corps of Engineers issued and administered all permits for development within the project boundary for the first 50 years after Bagnell Dam was completed. In 1983, Ameren Missouri began issuing permits for docks in 1983. The company’s license from FERC to operate the Osage plant requires the company to manage the shoreline by balancing the various recreational, environmental and operational aspects of the project. In the most recent relicensing of the project, enhanced mapping and aerial photography enabled a comprehensive identification of structures located along the shoreline. As a result, numerous unauthorized structures were found to be entirely or partially located on Ameren Missouri property.
Sincerely,
W. Jeff Green, AICP
Supervisor – Shoreline Management
Real Estate Department
T 573.365.9214
F 573.365.5773
E wgreen@ameren.com
Ameren Services
PO Box 993 (MC LE883)
Lake Ozark, MO 65049