When Should You Consider Refinancing?

Owning a home at the Lake of the Ozarks is a never-ending journey. As the owner of your home, you are responsible for any required repairs, desired upgrades, and standard maintenance. As the costs of homeownership begin to stack up, many homeowners realize that budgeting and saving money wherever possible becomes essential. One potential way for homeowners to save money is through refinancing their mortgages. You will have to work with a mortgage lender to be sure you fully understand the process, but your real estate agent in Lake Ozark MO is here to help you get acquainted with the basics.

What Does "Refinancing" Mean?

Unless you are in the small percentage of cash buyers, you will probably take out a mortgage loan to buy a house at the Lake of the Ozarks. If and when you choose to refinance, you will essentially be taking out a new mortgage loan to pay off your old one. Your monthly payments will then go towards paying off your new loan.

Is Refinancing A Good Idea?

In order to determine whether or not refinancing is right for you, you must consider several different factors. Here are a few things to consider:

Your Interest Rate vs The Current Market Rates
Most mortgage loans offer a fixed interest rate for either the duration or a portion of the loan. If you purchased your home several years ago, it's very possible that interest rates will have dropped since you purchased - possibly significantly. If interest rates have dropped considerably since you bought, refinancing could help you save a lot of money.

How Much Equity You Have In Your Home
If you do not have at least 20% equity in your home when you refinance, you may be required to pay the additional cost of PMI (Private Mortgage Insurance). While some loan options advertise the possibility of putting 0% down, it may be hard to secure these types of loans when you refinance. The purpose of refinancing is to help you save money, so you'll want to make sure you aren't signing up for extra costs.

Your Credit Score
Any time you apply for a new loan, your lender will review your credit report to determine how dependable you are as a borrower. If your credit score has dropped since you purchased your home, you may not be able to secure as good of an interest rate when you refinance (even if current market rates have gone down). Before choosing to refinance, review a copy of your credit report to see if you are in a position to do so.

How Long You Plan To Stay In Your Home
Refinancing can be a great way to save money long-term, but it is not necessarily a cheap process. You will still be required to pay for closing costs and other fees associated with a new mortgage loan (generally adding up to 3-6% of the loan amount). In other words, you will have to spend money to save money. If you plan to be in your home for several more years, the long-term savings will likely outweigh the initial expense. If you only plan to be in your home for a short while, however, it may not be worth it.

How Do You Go About Refinancing?

In order to refinance, you will have to work with a mortgage lender. Your lender will be able to help you evaluate your financial situation, evaluate the pros and cons, and ultimately determine whether or not the process is right for you.

In Need Of A New Home? I Can Help!
Refinancing only makes sense if you plan to stay in your current home for many more years. If your family or financial situation has changed and you are considering looking for a new home at the Lake of the Ozarks, I would love to help you. I can search all of the homes for sale at the Lake of the Ozarks to help direct you to the properties that will best suit your needs.

For more information about my resources for homebuyers at the Lake of the Ozarks, visit my website. I look forward to working with you!

Susan Spica
Professional REALTOR®

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868


Susan's Cell: (573) 280-0484

5 Tips For First-Time Sellers

People are always talking about real estate tips for first-time homebuyers, but what about the individuals who are selling their homes for the very first time? Selling your house at the Lake of the Ozarks is no small undertaking, but if you follow a few helpful suggestions, you can make the process easier. Here are couple of key tips I've learned in my years as a real estate agent at the Lake of the Ozarks.

A Message To First-Time Sellers

With the incredible amount of information and resources available to today's buyers, sellers are having to step up their game. Simply contacting a real estate agent to put your home on the market and then waiting for the right buyer to come along isn't going to cut it anymore; you have to put in a little extra effort if you want your home to sell quickly and for a good price.

5 Tips To Help You Sell Your Home

1. Price Your Home Right From The Very Beginning
Some sellers overprice their homes in the beginning, thinking that they might as well see if they can get more money for it since they can afford to lower the price later if necessary. However, overpricing your home at the beginning can be a dangerous mistake. Most homes get the best visibility during their first 30 days on the market, and overpricing your home can put you at a serious disadvantage.

2. Add Extra Incentives To Generate More Interest
Every buyer is looking for the best purchase. If you include extra incentives in your sale, you may be able to generate more interest in your home. Consider offering to include various furnishings, appliances, or home decor pieces in the sale. You can be strategic about this by only offering to include the items that will be difficult for you to move, such as the washer and dryer.

3. Get Rid Of Clutter To Make Your Home Seem Bigger
It doesn't matter how much square footage your home has; if your home is filled with clutter, it will seem smaller and more cramped. It's time to clear your home of any unnecessary clutter - and even some of the "necessary" clutter! Clear half of all the items out of your closets and off of your bookshelves to create the illusion of more storage space. Clear every item (except for appliances) off of your kitchen counters to make them seem more expansive.

4. Clean Your Home To Make It More Appealing
It's time to embrace your inner neat freak. Before listing your home (and periodically while it is on the market), it's important to clean your home thoroughly. Pay attention to even the smallest details, like wiping down the light switches and doorknobs. Keeping your home in pristine condition while it's on the market will make it more appealing to buyers - after all, no one wants to buy a dirty home!

5. Make It Easy For Buyers
The most powerful thing you can do is make your home an easy purchase. Between packing up all of their belongings and unloading everything into their new home, buyers already have a lot on their plates. Anything you can do to lighten their loads will make your home much more appealing. Take care of any necessary repairs ahead of time. You may also want to toss in a few simple upgrades, such as nicer faucets in the sinks and showers.

Let Me Be Your Agent!

Following these suggestions can get you started, and hiring a real estate agent at the Lake of the Ozarks can help you finish the job! Your real estate agent will help you market your home and negotiate with buyers to find a solution that best works for everyone. I have a great deal of experience working with home sellers at the Lake of the Ozarks, and I would be honored to help you through the process. Check out my website to learn more about how I may be able to help you!

Susan Spica
Professional REALTOR®

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868

Susan's Cell: (573) 280-0484

Successful Staging Secrets

It doesn't matter whether you're selling a condo at the Lake of the Ozarks or an upscale luxury home. No matter what type of property you are selling, there is one key factor that will determine how quickly your property sells: home staging. (Asking price is also incredibly important, but that's a topic for another day.) 

An Overview Of Home Staging

Home staging refers to the process of "staging" your home so that it appeals to the widest range of potential buyers. Think of your home as a stage in a live theatre; in order to have a good show, you have to create a believable environment that captures the audience's attention. Home staging works the same way. If you want to capture your buyers' attention, you have to create an environment that draws them in.

Home Staging Secrets

In my years as real estate agent at the Lake of the Ozarks, I have identified several strategies to make your staging efforts more successful. Before listing your home, I strongly encourage you to add these items to your to-do list. You'll be glad you did!

1. Deep Clean
Clean homes tend to sell quickly, but dirty ones almost never do. Before listing your home, take time to deep clean your house like never before. In addition to the standard sweeping/mopping/vacuuming routine, you'll want to pay close attention to the little details. Scrub the smudges off of the baseboards and light switches, for example, and get rid of any dirt or dead insects that may have collected in your windowsills, door frames, or overhead lights. Putting in this extra work will pay off big-time in the long run.

2. Pay Attention To Curb Appeal
Most potential buyers will drive past the front of your home before they ever contact a REALTOR® to schedule a showing. You don't want to lose out on a potential sale simply because the buyers took one look at the front of your home and decided they were no longer interested! Keep your yard raked free of leaves and other debris, and be sure your sidewalks and driveway clear of any ice or snow. As the weather warms up, be sure to keep fresh flowers and greenery out front. You may also want to consider re-staining your front porch and/or repainting your front door.

3. Declutter
When it come to selling your house at the Lake of the Ozarks, getting rid of clutter is non-negotiable. Clear your kitchen counters of everything except appliances (coffee maker, toaster, etc) and perhaps a strategic vase of fresh flowers. Remove half of all your clothes and shoes from your closets to make them seem bigger. Even if you have great square footage, your home will feel cramped and small if it's buried in clutter. Take this opportunity to purge all the items you no longer need. (Added bonus: getting rid of all your unnecessary belongings now will mean you have fewer items to move when the time comes!)

4. Go Neutral
In the years you have lived in your home, you will have doubtless spent many hours decorating it to match your unique style and tastes. When you're trying to sell, however, it's best to remove all personal touches. Take down your family photos and remove all spiritual or political knickknacks. If you have to repaint, use light colors that will blend with anything. Creating a neutral environment will allow more buyers to feel at home in the space and more easily imagine the home as theirs.

I Can Help You Sell Your Home!

If you are ready to sell your Lake of the Ozarks home or are simply looking for more information about the process, I would love to talk to you. I have experience with all types of properties and an inside knowledge of the Lake Area that can set your sale up for success. Visit my website to learn more, or call me directly at 573-280-0484. I look forward to talking with you!

Susan Spica
Professional REALTOR®

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484

Top 6 Home Buying Tips For 2016

The start of a new year is a time for change. What are your plans for 2016? If part of your plans include relocating to the Lake of the Ozarks or buying a new home in Mid-Missouri, I would be honored to help you with the process! This week, I want to share with you some of the top home buying tips for 2016. By incorporating these strategies into your home search, you will be well on your way towards setting yourself up for success!

1. Begin Your Loan Application Process ASAP
Believe it or not, you do not have to have a specific home in mind to begin applying for a mortgage loan. By getting prequalified or preapproved before you even begin touring the homes for sale at the Lake of the Ozarks, you can greatly simplify (and accelerate) the process.

2. Start Tracking Your Budget... Yesterday
Owning a home is incredibly rewarding, but it requires a great deal of financial responsibility. If you are thinking about buying a house at the Lake of the Ozarks, I strongly encourage you to begin keeping detailed track of your daily, monthly, or weekly budget. You'll need to know exactly how much room you have in your budget for a mortgage payment, desired upgrades, and any necessary repairs.

3. Always Think Resale
It doesn't matter if you are planning on living in your new home for three years or for thirty; you should always consider the resale value when you buy a house. Odds are that at some point, you or your heirs will sell the home, and you want to be confident that you can get a great return on investment when the time comes.

4. Consider The Extra Expenses
When you're buying a house, you will have to cover a lot more expenses than the asking price of your new home at the Lake of the Ozarks. You will also have to cover the home inspection, the appraisal, the closing costs, any association dues, your new utilities, and any desired (or necessary) upgrades and repairs. Make sure you leave room for all of these costs in your budget.

5. Remember That You're All On The Same Team
Some people think of buying real estate as a combative experience. The buyers want to pay the lowest possible price, the sellers want to get the highest possible price, and the lender's want to secure the highest possible interest rate. However, it's important to realize that everyone is on the same team. The buyers, the sellers, the real estate agents, and the lender all want the sale to go through. There's no reason to make it combative.

6. Hire A Real Estate Agent
Your real estate agent at the Lake of the Ozarks will be your guide, your representative, and your advocate throughout the entire process. Buying a home can be a complicated process, and having an agent to help you navigate the process can be a huge weight off of your shoulders. I would be honored to help you in any way I can!

Susan Spica, Professional Realtor

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484
Gina's Cell: (573) 889-9477

5 Unbeatable Perks of Living on the Water

Let's be honest - there's nothing quite like living on the water at the Lake of the Ozarks! The Lake Area is unique in that it offers many different types of housing opportunities, including waterfront homes, interior homes, rural homes, and homes in densely populated neighborhoods. Each different style of home comes with its own set of perks, but today your local real estate agent at the Lake of the Ozarks is here to explore the benefits of living on the water.

Spoiler alert: they're hard to beat!

Want to see the rest of this gorgeous waterfront home at the Lake of the Ozarks?
Call 573-280-0484 to schedule a showing!

#1: You Have Your Own Free Swimming Pool!
Private swimming pools are a blast, but they're expensive to install and expensive to maintain. Public swimming pools are fun, but repeatedly paying for admission (or buying season passes for everyone in your family) can add up quickly. When you live right by the water, though, you and your friends and family get free access to the Lake of the Ozarks all year long! Say goodbye to the days of waiting for the public pools to open and dealing with heavy crowds... You'll be able to swim on your time, every time.

#2: You Have Access To Affordable Boat Storage
You can own a boat even if you don't live on the water, but that typically requires paying for storage somewhere else - all year round. You need somewhere to store in it safely during the winter months, but you also need a place for it to stay in between summer excursions. When you live on the water, you can have your own private dock or a slip in a community dock, so your boat will have a convenient place to live all year long!

#3: "Staycations" Are Better Than Ever
We all need a chance to get away from everything and reset sometimes. Most of us think that we need to do this by traveling, but vacationing at home can be just as therapeutic - especially if you live somewhere as scenic and beautiful as the Lake of the Ozarks! People travel from all over the surrounding states to stay at the Lake... why not stay home and let yourself enjoy it, too? If you live in a waterfront home at the Lake of the Ozarks, you won't have to go anywhere else to relax!

#4: Your Family And Friends Will Come To You
Are you tired of always packing up and driving to different cities from family gatherings? If you have a lakefront home, chances are that it will be a favorite among your friends and family and they will come to you instead - especially for summer events!

This view could be yours! Contact Susan Spica to schedule
a showing of this waterfront condo at the Lake of the Ozarks

#5: The View From Your Home Will Be Incredible
Living on the water at the Lake of the Ozarks will mean different things depending on the season, but one thing will remain constant all year long: the outstanding view. Being able to look out over the beautiful water every day will help you relax, and having a great view adds value to your home. If you decide to move, your view will be a great selling point for your home.

Convinced? I can help you find your new waterfront home at the Lake!

I have over twenty-five years of experience in real estate at the Lake, and I would love to use that experience to help you with the search for your next home! If you're interested in viewing waterfront homes for sale at the Lake of the Ozarks, give me a call and we can get started!

Susan Spica, Professional Realtor

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484
Gina's Cell: (573) 889-9477

4 Key Questions For Your Mortgage Lender

For most of us, buying a home at the Lake of the Ozarks would not be possible without the help of a mortgage lender. Because lenders are such an important part of the home buying process, it's important to find a lender you are confident will be able to best meet the needs of you and your family.

It's important to meet with multiple lenders so you can get competitively priced interest rates, but this will also let you get to know multiple lenders so you can find someone you feel comfortable working with. As you interview different lenders, here are a few key questions to ask.

1. What Types Of Mortgage Loans Do You Offer?
There are about as many different types of mortgage loans as there are different people buying homes. Each type of loan comes with a different set of requirements, a different set of policies, and a different payment structure. Your lender should be able to help you understand the different types of loans available and determine which type will best fit your needs.

2. What Will My Interest Rate Be?
When you get prequalified, your lender will be able to give you an estimate of the interest rate you qualify for. Keep in mind that the rate quoted to you during the prequalification process is not guaranteed; you have to get farther along in the process before your rate will be locked in. Even though it won't be guaranteed yet, though, it's important to ask different lenders what types of rates they will be able to get you so you can compare quotes.

3. Are There Fees For Paying Off My Loan Early?
When you take out a loan to buy property at the Lake of the Ozarks, you will most likely end up paying several thousands of dollars in interest by the time it's all said and done. You can reduce the total amount of interest you pay, however, by putting extra money towards the principle amount on your home loan and paying it off a little early. Some loans charge additional fees if you pay your loan off early, though, so it's important to find out if you will be able to make additional payments or not.

4. How Quickly Will My Loan Be Approved?
There's no definite answer for this, but you will be able to get a general timeline based on your lender's response. Some types of loans usually take more (or less) time to be approved than others, but sometimes you will even receive different timeline quotes from different lenders for the same type of loan. If you have a general timeline for your transaction, it's important to find the lender who will have the best chance of meeting your deadlines.

Good luck!
Ultimately, the choice of your lender is entirely your own. Asking these questions will get you started in the right direction, but eventually it is up to you to find someone you trust. 

Please keep me in mind when you are ready to start touring homes! I would love to serve as your Lake of the Ozarks real estate agent.

Susan Spica, Professional Realtor

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484
Gina's Cell: (573) 889-9477

The St. Patrick's Day Parade is on Saturday!

Calling all Lake of the Ozarks residents AND visitors! The 31st Annual St. Patrick's Day Parade returns to the Lake on Saturday, May 14th. This wonderful family-friendly event is always a huge hit among vacationers and residents alike, and this year should be no exception!

Photo Credit: www.FunLake.com

St. Patrick's Day Parade at the Lake of the Ozarks

Businesses from all around the Lake Area are busily decking out their cars, motorcycles, trucks, and even boats in the brightest greens they can find in preparation for the parade this weekend. Up to 5,000 people will line the Strip and watch the parade go by - so why not be one of them?

• Saturday, March 14th, 2015
• Bagnell Dam Strip
• 1:00 PM

We think of parades as a great attraction for family's with young children, but the truth is that parades are appealing to people of all ages. Grab your kiddos, your wife, your husband, your friend, your parents, or your grandparents and head out for an afternoon filled with fun for everyone.

Photo Credit: www.FunLake.com

Thinking About Relocating To The Lake of the Ozarks?

As an experienced Lake of the Ozarks real estate agent, I am well-equipped to help you find your dream home at the Lake. If you're thinking about buying a home, feel free to stop by my office so we can discuss your options. I'm in the Berkshire Hathaway HomeServices Building located on Crossings West in Lake Ozark, right next to the Break Time gas station. Give me a call to set up your appointment!

Susan Spica, Professional Realtor

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484
Gina's Cell: (573) 889-9477