Subscribe to our mailing list

* indicates required Email Address * First Name Last Name Opt-In Date Location

St. Louis Real Estate Search

 

Stay on top of the St. Louis Real Estate Market!

Sign up for our FREE Weekly St. Louis Real Estate Market updates for your area!

Click Here to View Sample Report

Two St Louis Areas were the most profitable zips in the U.S. for flipping property in 4th quarter

Two zip codes in the city of St Louis made RealtyTrac’s list of “Zips with the highest gross returns (from flipping property)” for 4th quarter, 2014.  The 63139 zip code, which includes the Dog Town area of St Louis, came in number 2 on the list with an average gross return on investment of 163.9% and the 63116 zip code, which includes Tower Grove South, Holly Hills, Dutchtown South and Bevo, came in 9th on the list with an average gross return on investment of 127.7%.

To be eligible to be considered for the list, there had to be at least 10 single family homes “flips” completed during the 4th quarter of 2014.  In the 63139 area of St Louis, there were  18 such home flips during the quarter with an average purchase price of $9,000 and an average gross profit of $14,750 from the flip.  In the 63116 zip area, there were 21 flips during the quarter with an average purchase price of $27,721 and an average gross profit of $35,407.   The table below shows the data for all 10 top gross returns from flipping property zips in the U.S.

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend
Want to flip property?  Check out my video on how to buy foreclosures here.

Continue reading Two St Louis Areas were the most profitable zips in the U.S. for flipping property in 4th quarter

Inventory of Homes For Sale In St Louis At 10 Year Low

As of the end of last month, there were 4,873 active listings of homes and condos for sale in the counties of St Louis and St Charles, the lowest inventory of homes for sale for those two counties in over 10 years.  As the 10-year chart below shows, the inventory peaked at 13, 823 active listings in July 0f 2007 so the inventory of homes for sale in St Louis & St Charles County has fallen almost 65% since hitting the peak during 2007.

It’s no wonder we are seeing many homes selling within days of hitting the market, and, often at or above full asking price.  Of course, as I have said before, home buyers today are pretty savvy so they are not jumping at overpriced listings but if they are priced appropriately and properly marketed, they are gone quick!

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend

Find your home’s market value online in LESS THAN A MINUTE!

Continue reading Inventory of Homes For Sale In St Louis At 10 Year Low

Are St Louis Home Prices Too Low?

The St Louis real estate market is definitely recovering from the housing bubble burst that sent it into a tail spin about six years ago. With the recovery, home sales have increased, although at a slower pace in 2014 than the year before, and St Louis home prices have increased but, in spite of this, are St Louis home prices too low?

To address this question I looked at the relationship between St Louis home prices, rent amounts and income over the past 15 years to see how the trends look and how where we are today compares.  Below are the following charts as well as what I think they may indicate:

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale
See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading Are St Louis Home Prices Too Low?

St Louis Home Sales Cool In January

St Louis home sales slowed in January to 1,322 homes sold in the St Louis 5-County Core market (the city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) which is a decline of over 36 percent (36.65%) from the month before, and a decline of almost 3 percent (2.94%) from a year ago, according to the latest data available from MORE, REALTORS.  As the chart below shows, the median price of homes sold in St Louis in January was $144,498, down from $159,500 in December but up from a year ago when the median home price of homes sold was $138,000.

If we zoom in to the 3 county market of the city of St Louis and St Louis and St Charles county, we will find there were 1,109 homes sold in January, down 37.7 percent from December and down 4% from a year ago.  As the 2nd chart below shows, the median price of homes sold in January was $150,000, down from $165,000 in December but up from a year ago when the price was $142,500.

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale

See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading St Louis Home Sales Cool In January

Missouri Home Purchases By Institutional Investors And Cash Buyers Falls By Half From Year Ago

Institutional investors (entities that bought at least 10 residential properties in the last 12 months) are having much less of an impact on the housing market throughout Missouri than they were a year ago, according to a newly released report by RealtyTrac.  According to the report, during the 4th quarter of 2014 three percent (3%) of all residential sales in Missouri were to institutional investors, a decline of 50% from the 4th quarter of 2013 when institutional investors accounted for 6% of all residential sales in Missouri.

Cash home sales in Missouri has fallen by almost half as well, with cash sales during the 4th quarter in Missouri accounting for 10.3% of all residential sales, down nearly 50% from the 4th quarter of 2013 when a whopping 20.1% of all residential sales in Missouri were to cash buyers.  This is not surprising as a lot of investors (both institutional as well as individual) are cash buyers so as the number of distressed home sales continues to fall, so does the presence of investors in the market ergo there go the cash sales too.

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend

Home Building In The Midwest Begins 2015 With a Bang

While the number of building permits issued for new single family homes during January 2015 in the Midwest was down 4.8 percent from January 2014, builders were busy starting construction on new homes  at a pace that was 73.6 percent higher than the year before, according to the latest data from the U.S. Census Bureau.

Other highlights from the report for January 2015 for the midwest region of the U.S.:

  • Permits for new single family homes were issued at the seasonally adjusted annual rate of 99,000 units, down 2.0% from December and down 4.8% from January 2014.
  • Construction commenced on new homes at the seasonally adjusted annual rate of  92,000 units, a decrease of 30.8% from December but an increase of 73.6% from January 2014.
  • New homes in the Midwest were completed in January at the seasonally adjusted annual rate of  103,000 homes, down 2.8% from the month before and down 12.0% from a year ago.


See St Louis New Homes For Sale

See ALL Homes That Will Be Open In St Louis This Weekend

(We work hard on this and sure would appreciate a “Like”)
Continue reading Home Building In The Midwest Begins 2015 With a Bang

Mortgage Delinquencies Drop 14 Percent in Past Year- More Non-Prime Borrowers Getting Home Loans

Mortgage Delinquencies (borrowers that are 60 days or more late on their house payment) declined in the 4th quarter of 2014 marking the 12th consecutive quarter of declines in the mortgage delinquency rate, according to data just released by TrasnUnion.  As the table below shows, the mortgage delinquency rate for the 4th quarter of last year was 3.29%, a decline of 2.1% from the quarter before and a decline of 14.5% from the 4th quarter of 2013.

Foreclosures and better borrowers are the reason…

Ezra Becker, vice president of research and consulting at TrasnUnion,  said the improvement in mortgage delinquencies are driven “primarily by the ongoing clearance of the foreclosure backlog” and also notes that recent borrowers “have been performing exceptionally well“.

Young borrowers show best improvement….

Although mortgage delinquencies improved for all age groups, the youngest group (age 30 and under) had the largest improvement from a year ago with the mortgage delinquency rate dropping to 2.21% for 4th quarter 2014, a 24.3% decline from a year ago when the delinquency rate was 2.92%.

More home loans to “Non-Prime” borrowers…

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend
Get Pre-Approved for a home loan or see how much you can save by refinancing

Continue reading Mortgage Delinquencies Drop 14 Percent in Past Year- More Non-Prime Borrowers Getting Home Loans

Seriously Delinquent Mortgage Rate Falls to Lowest Level In Six Years

The seriously delinquent mortgage rate  (90+ days late) fell to 1.91 percent of all outstanding mortgages in November, the lowest level since December 2008, according to a report just released by the Federal Housing Finance Agency (FHFA).  The percentage of loans that were 30-59 days late rose in November to 1.69% from 1.39% the month before and the 60+ day delinquency rate rose from 2.32% in October to 2.36% in November.

The tables below have complete mortgage delinquency data.

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading Seriously Delinquent Mortgage Rate Falls to Lowest Level In Six Years

St Louis Foreclosures Increase In January Nearly 50 Percent From Year Before

St Louis foreclosures increased dramatically in January with 1,116 foreclosure actions in the St Louis metro area during the month, an increase of 52.25 percent from December and an increase of 47.42 percent from January 2014, according to data just released this morning by RealtyTrac.

As the table below shows, all of the counties in the core St Louis market saw an increase in foreclosure activity during January from the month before and all, except Jefferson County, saw an increase from a year ago.

On a national level, RealtyTrac is reporting that foreclosure activity in January increased 5 percent from December but declined 4 percent from January 2014.

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Foreclosures For Sale HERE

Search St Louis Homes For Sale HERE

Continue reading St Louis Foreclosures Increase In January Nearly 50 Percent From Year Before

Cash Home Sales In St Louis Decline Over 9 Percent From Year Before

Cash home sales in St Louis during November, 2014, were responsible for 35.71 percent of all the home sales in the St Louis metro area for the month, according to data just released by CoreLogic.  This is a decline of 9.32% from November, 2013 when cash home sales in St Louis accounted for 39.38% of the total home sales for the month.  The table below shows cash sales for the 25 largest metro areas in the U.S. and, as you can see, only 7 of the 25 had a higher percentage of cash sales in November 2014 than St Louis.

The chart below the table shows the percentage of cash home sales by type of sale, on a national level, going back to 2010.  It illustrates that REO’s clearly dominate cash home sales with roughly 60% of REO home sales being cash sales.

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading Cash Home Sales In St Louis Decline Over 9 Percent From Year Before

St Louis Ranked Seventh In Number of Completed Foreclosures In 2014

St Louis had 6,215 completed foreclosures in 2014 putting it 7th on the list of metros in the U.S. in terms of the number of completed foreclosures.  As the table below, which lists the 25 top metro areas for foreclosures, shows, Tampa saw the most foreclosures with over 18,000 being completed during 2014, according to newly released data from Corelogic.

According to the Corelogic report, there were  563,294 completed foreclosures in the U.S. during 2014, the lowest total for any 12 month period since November 2007 when it was 589,570.

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Foreclosures For Sale HERE

Search St Louis Homes For Sale HERE

Continue reading St Louis Ranked Seventh In Number of Completed Foreclosures In 2014

St Louis Home Prices and Sales Market Update VIDEO-February 2015

The St Louis real estate market is off to a good start and homes and condos in many neighborhoods are SELLING FAST!  Find which St Louis neighborhoods are hot markets and selling fast as well as which are not and much more in our newly published, 5-minute, market video update for February 2015, below.

If you have considered selling your home, or perhaps tried and failed in the past year or so, now is the time to consider it again.  Give us a call and we’ll be happy to let you know the value of your home in today’s market or, try our new online home valuation site and find your homes value in under a minute – go to StLouisHousePrices.com and find your home’s value now!

Thinking of selling and want to know if your neighborhood is a seller’s market? Contact us and we’ll  answer that question for you.

Continue reading St Louis Home Prices and Sales Market Update VIDEO-February 2015

Over Half Of St Louis Foreclosures Are Zombies – Highest Rate in Nation

Over half (51%) of the foreclosures in St Louis are “Zombies” meaning that the owners have abandoned or vacated their home prior to their lender completing the foreclosure process, according to a report released this morning by RealtyTrac.  Just like the number of St Louis foreclosures is down significantly from a year ago, the actual number of Zombie foreclosures has declined 59% from a year ago.

The chart below shows zombie foreclosure data for the 10 metro areas in the U.S. with the highest percentage of Zombie foreclosures.  Beneath that is a table showing the 10 metro in the U.S. with the most number of Zombie foreclosures which shows New York leads the nation with over 19,000 zombie foreclosures as well as a chart showing the States with the highest number of Zombies.

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Foreclosures For Sale

Search St Louis Homes For Sale HERE

Continue reading Over Half Of St Louis Foreclosures Are Zombies – Highest Rate in Nation

Down Payment Help Available For Most Homes

Down payment help is available for 87 percent of the homes in the U.S., according to an analysis completed recently by RealtyTrac and Down Payment Resource.  This analysis looked at the geographic location of homes to see if they were within areas where down payment assistance are available to purchasers meeting the qualifications of the program.

In the St Louis area, there are several down payment help, or down payment assistance programs, available, most of which are administered by the Missouri Housing Development Commission (MHDC).  These programs include:

  • Cash Assistance Loan Program (CAL) 
    • Qualified first-time homebuyers may receive a second mortgage equal to 3% of their mortgage amount which can be used for down payment or closing costs.
    •  The loan is a five-year loan at 0 percent interest with no monthly payments required.  The loan will be forgiven after the buyer has occupied the home for 5 years.
  • Non-Cash Assistance Loan Program (NON-CAL)
    • Qualified first-time homebuyers that do not need down payment assistance can obtain a lower interest rate home loan than those that use the CAL program above.
    • Because of the lower interest rates, borrower will have a lower monthly payment.

The best down payment assistance program in St Louis though is the BMO Harris Bank Affordable Housing Grant Program.  This program is available to all qualified home buyers (not just first-tome buyers) and, instead of being a loan that may be forgiven after living in the home for a period of time, it is a no-strings attached grant that can be used for down payment or closing costs.  Grants of up to $3,000 are available to home buyers that purchase homes in specified neighborhoods throughout St Louis.  Click HERE to find out more about this great down payment help program!

What  Does  It  Mean  To  Be  In  A  Flood  Zone?

Flood  zones  are  land  areas  identified  by  the  Federal  Emergency  Management Agency (FEMA).  Each  area  of  land  is  mapped  and  labeled  into  a  flood  zone.  FEMA  flood  maps  include  zones that  are  broken  into  several  areas.

Here  are  the most  common  flood  zone  areas  that  you  will  see  in  Missouri:

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Homes For Sale HERE

Continue reading What  Does  It  Mean  To  Be  In  A  Flood  Zone?

St Louis Ranked As One Of Top 50 Markets To Rent To Millenials

The city of St Louis made the list of the top 50 markets to rent to Millenials, published by RealtyTrac.  In determining the best markets in the U.S. for renting to millennial (most of whom are in their 20’s or early 30’s), RealtyTrac looked at rental markets where the gross annual yield on rentals was at least 9 percent, where Millenials make up more than 22 percent of the market (the national average) and where the Millenial population had increased at least 5% from 2007 through 2013.

For the city of St Louis, as the table below shows, the Millenial population grew 18% from 2007 to 2013 and in 2013 accounted for over 28% of the market.

St Louis One of the best cities to rent to millenials

Source: RealtyTrac

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale
See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading St Louis Ranked As One Of Top 50 Markets To Rent To Millenials

Over Half Of Buyers Agents Surveyed Say Clients Will Pay More For A Staged Home

According to the National Association of REALTORS® (NAR) 2015 Profile of Home Staging (the first ever by them), over 50 percent (52%) of real estate agents representing buyers said that a staged home will increase how much their buyer client is willing to pay for a home.  For those not familiar with the term a staged home is one that has been prepared, usually by a professional, to help make the home show as well as possible and appeal to as many buyers as possible leading to ultimate goal of selling the home quickly for the highest price.  Vacant homes are the ones most often staged with furniture and accessories, however today many real estate agents suggest a stager to help a seller prepare their furnished home as well.

Highlights from the 2015 Profile of Home Staging:

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale
See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading Over Half Of Buyers Agents Surveyed Say Clients Will Pay More For A Staged Home

Violent Crime In St Louis Declines Over 5 Percent In 2014 From 2013

So you may be asking, why am I writing about crime here, after all isn’t this site about real estate?  Correct but there are few things that can affect property values more than crime rates and school districts.  Not to mention, from an economic development standpoint, crime also plays a role in the success we have as a region attracting businesses to St Louis to create jobs which also has a major impact on home prices.

The good news is, based upon stats the FBI just released for the first half of last year, crime in St Louis is on the decline, both violent crimes and non-violent crimes, from the same period the year before.  As the table below shows, overall, violent crime for the first half of 2014 declined 5.6% from the same period in 2013, in spite of the fact the murder rate increased over 18%.  Four of the five non-violent crimes reported on declined, three of them double digits, from the year before and arson was the only that increased.

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale
See ALL Homes That Will Be Open In St Louis This Weekend

Violent Crime in St Louis - St Louis Crime Rates 2014 Versus 2013

The Truth About Real Estate Commission

Last summer I wrote an article addressing the issue as to whether paying a higher rate of commission will help a seller sell his or her home faster.  My research for that article, in which I looked at a years worth of home sales in the St Louis area, showed that a higher than normal commission rate in fact did not lead to faster home sales.  Now that we are seeing the market heat up I decided to take another look at this topic and this time focus on whether paying a higher real estate commission results in getting a higher price for the seller.

To make sure my analysis would reflect the current market, I looked at data from homes sold in the St Louis area during the last 4 months and then selected the 20 zip codes where homes sold for the highest percentage of the original list price.  As the chart below shows, the 63385 zip code area of St Charles County (Wentzville area) had the highest percentage at 97.5% and the 63146 zip code area of St Louis County with homes selling for just shy of 95.5% of the list price was at the bottom of the list of top 20 zips.  There were a total of 2,162 homes sold in these 20 zip code areas during the 4 month period I examined.

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale
See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading The Truth About Real Estate Commission

St Louis Home Sales In 2014 Fall Short of 2013 But Home Prices Rise

St Louis home sales for 2014 fell 2.4 percent from 2013 with a total of 30.557 homes sold in St Louis (in the 5-county core market) during 2014, shy of the 31,329 homes sold the year before.  St Louis home prices, on the other hand, increased 5.6 percent during the same period, increasing from a median price of $142,000 for homes sold during 2013 to $150,000 for homes sold during 2014,according to the latest data available from MORE, REALTORS.

Home sales did spike somewhat at the end of the year with 2,411 homes sold in St Louis during December 2014, an increase of 7.6% from December 2013 when there were 2,240 home sales.  The median price of homes sold in December 2014 was $150,250 an increase of 6.5% from December 2013 when the median home price was $141,000.

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale

See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading St Louis Home Sales In 2014 Fall Short of 2013 But Home Prices Rise

St Louis Homeowners with Negative Equity Improves by Over 20 Percent in 4th Quarter of 2014

There were 119,936 St Louis homeowners with negative equity, or in a seriously underwater condition on their mortgage meaning they owe more than the current value of their home, in the St Louis MSA during the 4th quarter of 2014 which is a 21% improvement from the prior quarter when there were 152,025 St Louis homeowners seriously underwater, according to a report just released today by RealtyTrac.

As the table below shows, for the immediate St Louis, MO area, the city and county of St Louis had the highest percentage of underwater homeowners at 22% and St Charles county had the lowest percentage at 6%.

(We work hard on this and sure would appreciate a “Like”)

Find your home’s market value online in LESS THAN A MINUTE! 

Search all St Louis Homes For Sale HERE

Search St Louis Short Sales HERE

Continue reading St Louis Homeowners with Negative Equity Improves by Over 20 Percent in 4th Quarter of 2014

New Home Construction In Midwest Finishes Out 2014 Ahead of 2013

After struggling for years, new home construction in the Midwest finished out 2014 with a little  more home building activity than the prior year and on a pace that makes me feel pretty optimistic about 2015 for the home building industry.

New Home Building and Construction Activity in the Midwest during December 2014, according to the latest data from the U.S. Census Bureau:

  • Permits for new single family homes were issued at the seasonally adjusted annual rate of 102,000 units, up 4.1% from the prior month’s rate and up 6.3% from the rate in December 2013.
    • During 2014, building permits were issued for 101,900 new homes, just slightly more than 2013 when there were 101,800 permits issued.
  • Construction commenced on new homes at the seasonally adjusted annual rate of  123,000 units, an increase of 7.9% from November and an increase of 0.8% from December 2013.
    • During 2014, construction was commenced on 105,100 new homes, an increase of 3.1% from 2013.
  • New homes in the Midwest were completed in December at the seasonally adjusted annual rateof of 108,000 units, up 8.0% from the month before and up 10.2% from a year ago.
    • For 2014, there were 103,800 new homes completed, an increase of 8.6% from 2013.

See St Louis New Homes For Sale – Click HERE

(We work hard on this and sure would appreciate a “Like”)
Continue reading New Home Construction In Midwest Finishes Out 2014 Ahead of 2013

Dr. Martin Luther King Jr Inspired Peace Park Here in St Louis

mlkAuthors note: While setting out to write something in honor of Dr. Martin Luther King today, I found the article below I wrote a year ago at this time and realize it says what I would say today so I chose to publish it again…

Today, as we celebrate the life of Dr. Martin Luther King, Jr., it is hard for me to believe that, during my lifetime, there was a time when it was legal to refuse to rent or sell a house to someone because of their race or skin color, but it was.  However, the  Civil Rights Act of 1968, also referred to as the “Fair Housing Act of 1968″, which was signed into law by President Lyndon Johnson, just one week after Dr. King’s assassination, corrected this atrocity and made it illegal to refuse to rent or lease a home to someone based upon their race.

Peace Park Sign - otis woodard - dr martin luther kingI know we have a long way to go and there may never come the time that discrimination does not exist in one form or another, but I am thankful for Dr. King and that he was willing to sacrifice his life to make life better for others.  While I was just 7 years old when Dr. King was assassinated and only knew of him through historical accounts, that changed a few years ago when I met my good friend Otis Woodard.  I now feel like I have gotten to know Dr. King a little better through Otis.  You see, Otis was part of the civil rights movement and was a friend of Dr. King’s.  When Otis talks about Dr. King you can see how much he respected him and what an influence Dr. King has had on his life.  In fact, a park in north St Louis where Otis converted vacant lots it into a safe haven for homeless and poor people of the neighborhood pays tribute to Dr. King, being named “Peace Park” and bearing a quote from Dr. King, “At the center of non-violence stands the principle of love.”

While writing this article, I saw a tweet from another man I tremendous amount of respect for, Dr. Ben Carson, that says it all…  “As we celebrate Dr. Martin Luther King, Jr. let us pay more attention to the content of one’s character than the color of one’s skin.” 

Which St Louis Neighborhoods Had The Most Homes Sold in 2014?

The 63376 zip code area of St Charles County, which includes the City of St. Peters and a portion of Cottleville, had the most homes sold in 2014 of any other zip code area in St Louis with 1,145 homes sold.  For the zip area with the second most homes sold in 2014 we jump to the east side of the Missouri river with the 63021 area of St Louis County, comprised of Ballwin, Manchester and Ellisville, with 856 homes sold.   The chart below shows the top 20 zip areas in the St Louis area and then the charts that follow show the median home prices in those areas as well as the percentage of list prices homes in those areas sold for in 2014.

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale
See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading Which St Louis Neighborhoods Had The Most Homes Sold in 2014?

Missouri Foreclosure Filings For 2014 Down Seventy Percent From Peak in 2010

Missouri foreclosure filings during 2014 occurred on a total of 9.762 properties in Missouri which is down over 70% from 2010 when foreclosure activity in Missouri hit an all-time record high with foreclosure filings occurring that year on 33,120 properties, according to data just released by RealtyTrac.  Below is a complete table showing Missouri foreclosure filings for each year, from the real estate “boom” year of 2006 through 2014, for all counties in Missouri which reveals that in most counties in Missouri foreclosure activity peaked during 2010.

Foreclosure filings in the Missouri counties that make up the St Louis MSA occurred on a total of 5,310 properties during 2014, down 68% from 2010 when foreclosure activity hit a record high in the Missouri counties of the St Louis MSA with foreclosure filings taking place on 16,588 properties that year.

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Foreclosures For Sale

Continue reading Missouri Foreclosure Filings For 2014 Down Seventy Percent From Peak in 2010

St Louis Home Prices and Sales Market Update VIDEO-January 2015

St Louis home sales in 2014 failed to keep pace with the year before however St Louis home prices rose during the same period. How much they rose as well as how much St Louis home prices are expected to increase (or decrease) in 2015 are just two of the important pieces of information you will find about the current St Louis real state market in our newly published, 5-minute, market video update for January 2015, below.

There are neighborhoods throughout St Louis that are low on inventory and high on demand creating a seller’s market!  If you have considered selling your home, or perhaps tried and failed in the past year or so, now is the time to consider it again.  Give us a call and we’ll be happy to let you know the value of your home in today’s market or, try our new online home valuation site and find your homes value in under a minute – go to StLouisHousePrices.com and find your home’s value now!

Thinking of selling and want to know if your neighborhood is a seller’s market? Contact us and we’ll  answer that question for you.

Continue reading St Louis Home Prices and Sales Market Update VIDEO-January 2015

Institutional Investors Own Only About 1 Percent Of Homes In St Louis

The bursting of the real estate market bubble back in 2008 led to opportunities for investors to buy up homes at attractive prices throughout the country and even attracted some large firms backed by Wall Street such as Blackstone, American Homes 4 Rent, Colony American Homes and Fundamental REO.  While institutional ownership of commercial real estate, apartments and land has been very common, and in fact, predominant, since entering the business in 1979, firms like this investing in single family homes has not.  The best I can tell, St Louis has not attracted any of the four largest institutional investors (although it is hard to tell because they could own property in LLC’s not easily identified to be them) however, there has been plenty of investor activity here, including some by institutional investors.

So, what is an “institutional investor”?  Well, for the purposes of this article, and the data below, we’ll consider it to be an entity that buys at least 10 homes a year thereby separating them out from the small and/or occasional investor.  One such investor that has been active in St Louis is BLT (Building Land & Technology out of Connecticut) which, at this time, appears to own around 700 single family homes in the St Louis area. However, as the table below shows, ownership of homes in St Louis by institutional investors is pretty minimal, with those types of investors having acquired over the past 3 years (the most active period for this type of investment) at total of just over 6,000 homes or, just over 1 percent of the total housing stock in the five-county core St Louis market.

(We work hard on this and sure would appreciate a “Like”)

Search St Louis Foreclosures For Sale

Continue reading Institutional Investors Own Only About 1 Percent Of Homes In St Louis

FHA To Lower Fees Opening The Door To Around 100,000 Home Buyers

Yesterday, President Obama announced that he will, by executive order, direct FHA to lower the mortgage insurance premium charged on FHA loans to home buyer from 1.35 percent to .85 percent, lowering home buyer’s house payments by about $900 per year on average.  Chris Polychron, the President of the National Association of REALTORS® (NAR) showed his organizations support of the President’s action and highlighted the positive impact NAR felt it would have on the housing market stating “we (NAR) are optimistic that more affordable FHA loans will have a positive impact on first-time buyers who have been entering the market at a lower than normal rate.”  NAR has stated that the lower cost of an FHA loan would add 90,000 to 140,000 additional annual home purchases.

The cost of the mortgage insurance premium on an FHA loan was .90% back in 2010, increased to 1.15% in 2011, then to 1.25% in 2012 and finally 1.35% in 2013.  NAR first addressed this issue back in April 2014 when, then President, Steve Brown wrote a letter to Carol Galante, the Assistant Secretary for Housing at the time, to draw her attention to the impact the higher fees were having on the housing market and urging her to take action to lower the premiums.  In the NAR letter, it was pointed out in 2014 FHA fees accounted for nearly 20 percent of a homeowners monthly mortgage payment.

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale
See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading FHA To Lower Fees Opening The Door To Around 100,000 Home Buyers

Number of St Louis Homeowners With Negative Equity Hits Lowest Level in Over 5 Years

The number of St Louis Homeowners with negative equity (or underwater) during the third quarter of 2014 hit the lowest level since Corelogic began tracking this data in the 3rd quarter of 2009. During the quarter, 8.43% of St Louis homeowners with a mortgage were underwater or in a negative equity position meaning their mortgage balance exceed the current value of their home, according to the latest data from Corelogic.

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale
See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading Number of St Louis Homeowners With Negative Equity Hits Lowest Level in Over 5 Years

Top 10 St Louis Neighborhoods Where Homes Sold For Highest Percentage of List Price

In the past year, homes for sale located within the 63105 zip code (Clayton) have sold, on average, for 98.2% of the original list price, a higher percentage than any other St Louis area during the same period, according to the latest date available from MORE, REALTORS.  As the chart below shows, the next 9 zip codes with homes selling for the highest percentage of original list price were within .7% of each other, ranging from a low of 96.9% for 63122 to 97.6% for 63040.  For the purpose of this report, only areas that had at least 25 home sales in the past year were considered and then the ranking was based upon the percentage of the original list price (the price the home was first listed at) it subsequently sold for.

(We work hard on this and sure would appreciate a “Like”)

Search ALL St Louis Homes For Sale

See ALL Homes That Will Be Open In St Louis This Weekend

Continue reading Top 10 St Louis Neighborhoods Where Homes Sold For Highest Percentage of List Price