Melody Anderson

$8,000 Tax Credit Scheduled to Expire Nov.30

Unless Congress acts to extend the credit before the scheduled deadline, first-time homebuyers wanting to take advantage of this credit need to act soon! Nowadays it's taking at least 30 days to close, so I advise putting something under contract before Nov. 1.

Realtors and contractors have been lobbying, as you might imagine, for an extension of this deadline. There is plenty of opposition to an extension of this homebuyer's credit, so passage is far from assured.

I have no crystal ball during these uncertain times, but if you have a stable job, decent credit, and always wanted to own a home; it's hard to see how you could lose by acting in time to receive this credit - particularly on homes priced under $100K.

(This post originally appeared on Melody's blog "www.PostcardsFromTheLake.com)

Short Sale Expert Offers Alternatives

Melody Anderson of Lakewide Realty in Camdenton has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by "distressed" homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

At the Lake of the Ozarks, many homes are in danger of foreclosing. It is happening in all price ranges. Even high-priced homes are not immune.

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Anderson with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

(This post originally appeared on Melody's blog "www.PostcardsFromTheLake.com)

Rebound in Sales of Lake Area Homes Begins

For the first time this year, total monthly sales of single family homes at the Lake of the Ozarks showed an increase over last year's sales.

As the table above shows, YTD sales figures still lag behind last year's numbers. Yet this past month's sales inspire cautious optimism for the beginning of a market recovery

100% Financing Option Not Just for First Time Homebuyers

Camden County homebuyers who qualify for USDA home loans are discovering the benefits over FHA home loans or conventional mortgages.

• No Down Payment - Genuinely a 100% home loan
• 2% loan guarantee fee (rolled into mortgage) replaces costly PMI insurance.
• Can qualify without high credit score
• No Minimum Credit History Required
• No limits to seller concessions - seller is allowed to pay closing costs

USDA Rural Home Loans offer rates competitive with FHA and conventional mortgages. There are income caps for the program, however. A family of 1-4 cannot exceed $73,600 annual income; and a family of up to 8 can have a household income of up to $97,150.

Sorry, but manufactured homes are excluded from this program; and the home must be your primary residence.

For additional information, contact Melody for a list of area lenders.

(This post originally appeared at www.PostcardsFromTheLake.com)

Wonderful Place for a Quiet and Relaxing Meal

One word describes my experience at lunch today: LOVELY!

That word come to mind often as I was taken to my

seat - lovely decor, atmosphere, service and music!

So even before my food was served, I decided I would return -

if only for the refreshingly quiet and peaceful atmosphere.

And then the waiter brought the nicest ‘box lunch' I'd ever had:

egg roll with hot mustard glaze, tempura vegetables, and kung pao

chicken. It was not only lovely, but delicious.

See more of my restaurant reviews at "Lake Area Restaurants" . It's a new and developing category here, so recommendations or review requests are appreciated.

(This post originally appeared at www.PostcardsFromTheLake.com)