Showing posts from 2016

5 New Year's Resolutions For The Prospective Homebuyer

Whether you are buying your first home or selling your current house and buying a new one, there will likely be a seemingly endless list of tasks and copious amounts of paperwork along the way. If you approach the process correctly, however, it doesn't have to be challenging. Our Lake of the Ozarks title company is here to help. If you are considering buying a new home in 2017, you can set yourself up for success by adopting the following New Year's Resolutions.

1. I Resolve To Not Open Any New Lines Of Credit
When you are applying for a mortgage loan, your lender will carefully evaluate all aspects of your financial situation. Having a stable credit history is important, as it demonstrates to lenders that you are reliable and trustworthy. If you are preparing for the possibility of taking out a mortgage loan, you'll want to keep your finances solid and constant. This is especially critical once you begin applying for a mortgage loan, as opening new lines of credit (such as …

What Is The Purpose Of A Title Search?

We talk frequently about the multitude of tasks and details that must be attended to during the process of buying real estate at the Lake of the Ozarks. We frequently mention the title search as a part of this process, but we realize that many of our readers may not have a clear, accurate understanding of the title search and how it relates to the overall real estate process. This week, we're delving deeper into the title search and the important role it plays in the process of buying property in Camden County MO (or anywhere else, for that matter).

The Title Search - An Overview

Before a home can be sold, a title search must be performed. When conducting a title search, our team carefully combs through a variety of documents and public records in search of important information that may apply to the title in question. These may include (but aren't necessarily limited to) records by surveyors, tax assessors, recorders of deeds, and county courts. Title searches serve two primary…

4 Reasons To Buy A Home This Winter

Whether it's your first, second, or even third home, the decision to take the plunge and buy a new home is usually a little intimidating. As the homeowner, you will be responsible for keeping up with the mortgage payments and all the other expenses associated with running a household (insurance, utilities, taxes, etc). However, when you time your home purchase correctly, balancing all of these financial responsibilities becomes more manageable. Keep reading to learn why this winter might be the perfect time for you to buy a house at the Lake of the Ozarks.

1. Interest Rates Are Rising (But Still Low)
Interest rates have a huge impact on the affordability of mortgage loans. According to a survey by Freddie Mac, the average interest rate for a 30-year fixed rate mortgage is currently 4.13%. This time last year, the average rate was 3.95%. Rates are beginning to rise more swiftly, however; the average rate was 4.08% just one week ago. While these numbers are still remarkably low, exper…

What Happens If You Don't Pay Your Personal Property Tax?

It's that time of year again! 'Tis the season for holiday gatherings, Christmas shopping, and - unfortunately - property taxes. 

Most people have already received their 2016 property tax statements. While it's safe to assume that no one looks forward to paying their property taxes, keeping up with these payments is absolutely essential. Arrowhead Title, Inc. is here to help you understand your property taxes and what happens if you fail to pay them.

What Is Personal Property Tax?

Personal property tax is a tax that is levied against tangible property that you owned at some point during the tax year. Examples of tangible property include houses, land, additional properties, boats, waverunners, cars, trucks, RVs, and motorcycles. Exactly where and how your tax dollars will be used may vary slightly by state and county, but generally recipients may include:
Local road districtsThe local libraryThe StateThe CountyThe local fire districtThe local schoolsLocal senior citizens
What Ha…

Lake Area Christmas For Kids 2016

The Christmas season is a magical time of the year, filled with beautiful lights, enticing packages, amazement, and wonder. Children and adults look forward to Christmas all year long, filled with anticipation over what this year's festivities will bring.

Sadly, there are millions of children all over the world who will not get to celebrate a wondrous Christmas. These less fortunate children (including thousands in the Lake Area alone) are lucky to simply have food to eat on any given day. For these children, the prospect of getting gifts for Christmas may not be much more than a far-off dream. That's why the Kiwanis Club of Lake Ozark and multiple businesses come together every year to host one of the biggest and best charity events of the year: Lake Area Christmas For Kids. As a proud supporter of this great event, Arrowhead Title, Inc. is here to fill you in on all the details for this year's festivities.

Lake Area Christmas For Kids

Lake Area Christmas For Kids is a huge …

Deciphering Common Title Terms: Part 2

The title industry is vast and complex, with a unique vocabulary all its own. Last week, Arrowhead Title, Inc. took it upon ourselves to help you decipher some of our industry's terms so that you can feel more confident as you navigate your real estate transactions. This week, we're continuing the conversation with some additional terms you are likely to encounter while selling or buying property at the Lake of the Ozarks

Common Title Terms - Explained

Quiet Title
A quiet title suit is a legal process designed to cancel and/or "quiet" unenforceable claims that have created a cloud on a title.

Restrictive Covenant / Restriction
A restrictive covenant is a limitation of the use of a specific piece of property. It may be imposed by deeds or other documents that appear within the chain of title.

Also referred to as "closing" or "close of escrow," a settlement is the time during which the sale of a piece of real property is finalized. The closing…

Deciphering Common Title Terms: Part 1

The title industry is one of the most complex industries pertaining to real estate. Title experts use an extensive vocabulary riddled with terms unique to our industry, and it can be overwhelming and confusing to lay persons seeking title assistance for the first (or even the second or third) time. At Arrowhead Title, Inc., we recognize the challenge this type of language barrier presents. In an effort to overcome these communication difficulties, we are dedicating this week's blog to defining some of the title terms used in most transactions.

Common Title Terms - Explained

Abstract of Title
An abstract of title is a summary of all the public records pertaining to a specific piece of property. In order to be considered legally valid, it must be prepared by a licensed abstractor.

Adverse Possession
Adverse possession is the process wherein someone may legally claim ownership of a piece of property if they have occupied it for a certain number of years.

Certificate of Title
A printed, offi…

Issues To Resolve BEFORE Selling Your Home

The decision to sell your home is a big one that should not be taken lightly. Your home is likely your greatest financial asset, and you'll want to be confident that you are maximizing your investment. Under the right circumstances, selling your home can be a great way to improve your financial situation. In order for this to happen, two primary conditions need to be met:
The market should to be in a favorable position for sellers - that is, there should be an abundance of interested buyers.All potential issues that may hinder the sale of your home should be addressed before it is listed.
Our Lake of the Ozarks title company is here to help you maximize your investment by ensuring that these conditions are met before you sell your home.
Getting The Market In A Favorable Position
Let's cut to the chase. As a homeowner, there is little you can do to impact the condition of the housing market. However, you can (in many situations) choose when to sell based on the current position and…

Title Services at the Lake: A Cut Above

Arrowhead Title, Inc. is proud to be a trusted title agency at the Lake of the Ozarks. We have been serving the Lake Area since 1984, and in that time we have helped hundreds of customers and developed many fantastic customer relationships. This week, we want to share with you some of the things we believe make us unique in the title industry at the Lake of the Ozarks.

Absolute Accuracy
When it comes to real estate and title matters, accuracy is absolutely essential. Even one small oversight or error could cost a homeowner hundreds (or possibly thousands) of dollars. In order to protect our clients' current and future interests, our title experts conduct every transaction with the utmost precision and accuracy.

Community Involvement
The Lake Area is famous for being a major tourist destination. Underneath a surface of thousands of tourists and second homeowners, however, there lies a close-knit community of individuals who make the Lake their home year-round. We are honored to be a pa…

7 Fun Halloween Traditions To Start With Your Family

What are some of your favorite memories from your childhood? Your family's unique traditions are probably high on the list. Traditions are an integral part of a family's culture. As adults with children of your own, it's time for you to continue the legacy by starting traditions in your own family.

In honor of the upcoming holiday, the team at Arrowhead Title thought we'd put together a list of some fun ideas for Halloween family traditions. Pumpkin carving and trick-or-treating aren't the only ways to celebrate this spooky holiday!

7 Ideas For Halloween Family Traditions

1. Watch Scary Movies
Even if you aren't a big fan of scary movies in general, you can always make an exception on Halloween! Choose a few family-friendly scary movies and snuggle up on the couch with your family. Don't forget the popcorn!

2. Give To Others
Teaching your kids the value of giving back to their community and the people they share it with is incredibly important (not to mention rew…

Is There A Cloud On Your Title?

If you know anything about real estate, you know that there is a lot more to buying and selling property than simply handing over the keys. There are multiple steps that must be taken and quite a bit of paperwork that must be filled out before ownership can be transferred from one party to another. Typically these steps can be taken without too much trouble, but every once in a while, issues may arise that inhibit the sale of a property. A "cloud" is an example of one such issue.

What Is "Cloud On Title"?

Often considered synonymous with "title defect," the term "cloud on title" refers to any issue with a title that may cause a reasonable buyer to hesitate before purchasing the property. Examples of common clouds include (but are not limited to):
Unpaid property taxesAn unsatisfied mortgage lienA pending lawsuit over ownership of the propertyAn improperly recorded deedAn improperly recorded easementImproperly recorded ownershipAny outstanding lien …