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Homeownership In America Hits Lowest Rate In Nearly Fifty Years

In the second quarter of this year, 63.4 percent of the households in the U.S. were homeowners, marking the lowest rate of home ownership since 1967, nearly 50 years ago, according to data just released by the U.S. Census Bureau.  The homeownership rate fell from 63.7 percent in the prior quarter and from 64.7 percent a year ago and now remains just just one-half of one percent from the all time low of 62.9 percent in 1965.

The Midwest Region Has The Highest Rate Of Homeownership-

As the regional chart below shows, the midwest region of the U.S., at 68.4 percent, has the highest rate of homeownership of the four regions, followed by the south at 64.9 percent.  Not surprisingly, the region with the lowest rate of homeownership is also the region with some of the highest home prices, the west.

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Continue reading Homeownership In America Hits Lowest Rate In Nearly Fifty Years

St Louis Mortgage Delinquency and Foreclosure Rates Drop To Lowest Level in Years

For the month  of May, 2015, less than 3 percent (2.95%) of St Louis mortgages were seriously delinquent (90+ days) marking a slight decline from the month before and a decline of 13 percent from a year ago, according to data just released by CoreLogic.  The St Louis foreclosure rate also hit the lowest level in a long time in May at 0.67 percent, a slight decline from 0.69 percent the month before and a decline of 10% from a year ago when the foreclosure rate was 0.77 percent.

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Rental Vacancy Rate In U.S. During 2nd Quarter Hits Lowest Level In Over 10 Years

The rental vacancy rate in the U.S. during the second quarter of this year was 6.8 percent, the lowest level in over 10 years, according to data just released by the U.S. Census Bureau.  This was a decline of over 9 percent (9.33%) from the 2nd quarter of 2014 when the rental vacancy rate was 7.5% and is the lowest level the rental vacancy rate has been at in over 10 years.

As the chart and table below shows, the U.S. homeowner vacancy rate also declined during the 2nd quarter of this year to 1.8 percent which ties the lowest level the homeowner vacancy rate has been at in over 10 years as well.

St Louis Rental Vacancy Rate Increases During 2nd Quarter-

As the table below shows, rental vacancies in St Louis increased slightly during 2nd quarter rising to 8.7 percent from 8.6 percent the previous quarter.

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Continue reading Rental Vacancy Rate In U.S. During 2nd Quarter Hits Lowest Level In Over 10 Years

New Home Sales Slip In June In The Midwest

New home sales in the midwest slipped in June to a seasonally-adjusted annual rate of 56,000 homes, a decline of 11.1 percent from the month before when sales were at a rate of 63,000 homes, according to a report just released by the U.S. Commerce Department.  Even though new home sales cooled off in June, the pace for June was still 5.7 percent higher than June 2014 when new home sales came in at a rate of 53,000 homes.

The new home supply in the midwest increased in June 12.5 percent to 5.4 months from a 4.8 month supply the month before, however this marks a decline of 6.9 percent from June 2014 when there was a 5.8 month supply.

New home prices increased slightly in June, from the month before, to a median price of $281,800 however were down 1.8% from June 2014 when the median new home price in the midwest was $287,000.

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Foreclosure Sales In St Louis Decline Over 4 Percent In June From Year Ago

Foreclosure Sales In St Louis (the 5-county core market) in June 2015 totaled 374 sales, a decline of 4.3 percent from June 2014 where there were 391 foreclosure sales.  The median price of the homes sold in June 2015 was 60,150, and increase of 7.2 percent from a year ago when the median price was $56,100.

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Foreclosure Sales and Prices By County – Change from June 2014 – June 2015:

Continue reading Foreclosure Sales In St Louis Decline Over 4 Percent In June From Year Ago

St Louis Home Sales In June Increased Over 15 Percent From Year Ago

St Louis Home sales, for the 5-county core market, in June totaled 3,542 sales, an increase of 15.4 percent from June 2014 when there were 3,068 homes sold.  The St Louis core market consists of the city of St Louis and the counties of St Louis, St Charles, Jefferson and Franklin.  While all of the 5 counties included in the core saw an increase in home sales from a year ago, the results, as the charts and individual results below show, varied widely by county.

St Louis home prices rose 4.2 percent in June 2015 from the year before, for the 5-county core market.  As the charts below by county show, each county, except St Louis County where prices remained flat, saw and increase in home prices.

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

The St Louis real estate market, like the weather,  is HOT!  Many of our listings are selling the first day and then for full price or above!  Naturally though, this is not true for all areas of St Louis nor all prices ranges.  Find where the hot seller’s markets, as well as cold buyer’s markets are in St Louis in our newly released, 5-minute, market video update for July 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-July 2015

St Louis Rental Vacancies Increase In First Quarter – Still 3rd Lowest Level In 6 Years

St Louis Rental Vacancies remain at historically low levels in spite of a slight increase in the first quarter of this year to 8.6% from 8.5% in the 4th quarter of 2014.  The St Louis vacancy rate for first quarter of 2015 was also up significantly from the first quarter of 2014 when the vacancy rate for St Louis stood at just 7.2% although, as the table below shows,  we have to remember that was the lowest vacancy rate we had seen in over 10 years.

On a national level, the rental vacancy rate has declined as well, down to 7.1% for the 1st quarter of 2015, down from 8.3% for the 1st quarter of 2014.  As the chart below illustrates, all four regions in the U.S. have seen a decline in rental vacancy rates from the 1st quarter of 2014 to the same quarter in 2015.  This, coupled with the facts that St Louis has a higher vacancy rate for 1st quarter 2015 than that of the region, as well as has seen an increase in rate from a year ago while the region saw a decline, may be a warning sign that the St Louis market, while performing well, is not keeping up with the region and the nation.

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Continue reading St Louis Rental Vacancies Increase In First Quarter – Still 3rd Lowest Level In 6 Years

St Louis Foreclosures Increase In First Half Of 2015

St Louis Foreclosures during the first half of 2015 increased in the St Louis metro area 26.52 percent from the second half of 2014 and 25.18 percent from the same period last year, according to a report released today by RealtyTrac.  According to the report, there were 5,468 foreclosure filings in the St Louis metro area during the first half of 2015 which equates to 1 in every 224 housing units in the metro area.

As the table below shows, with the exception of St Charles County, all of the counties making up the St Louis core market saw an increase in foreclosure activity in the first half of this year from the last half of last year.

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Only About One Third Of Low Income Missourians In Need Receive Federal Rent Assistance

Within the last few days, STL Today published an article titled “The affordability crisis in the St Louis rental market“, based upon a study recently released by the Urban Institute, revealing that “there is literally no affordable, non-subsidized housing available to St. Louis low-income families.”  While the focus of the article was non-subsidized affordable rentals, it also discussed the increasing number of extra-low-income families forced to pay over 50% of their income on rent.  I was surprised to hear this as I know federal spending on assistance programs has increased significantly over the last decade and I keep hearing that the economy is improving, unemployment is down, etc, so I would have expected a better report.  This prompted me to look into it a little further.

Missouri’s Low-Income Families and Rental Housing-

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Continue reading Only About One Third Of Low Income Missourians In Need Receive Federal Rent Assistance

Are St Louis Home Prices Too High?

The St Louis real estate market continues to be hot with many sellers benefiting from the low inventory of homes for sale resulting in buyers flocking to new listings and, when the homes are priced right, multiple offers being received in the first day.  Happened for one of my clients again this week…took the listing live on Tuesday at noon, had over 8 buyers through that afternoon and evening and multiple offers in hand by the next morning, all above listing price.  Granted, we did  a lot of pre-listing marketing to generate interest, and the seller worked hard to make sure the home was in show condition, but if the market wasn’t there, it wouldn’t have mattered.

Is all this activity causing St Louis home prices to rise to quickly and too much?  I get asked this question frequently today as none of us have yet forgotten what happened when the housing market bubble burst in 2008 so I spend a lot of time watching home prices in relation to the economy.  One of the things I look at to gauge how home prices are doing is to compare the rate home prices are increasing with the inflation rate…afterall, the two should be increasing at roughly the same rate.  As the charts below show, St Louis home prices tracked the CPI rate pretty closely through the 1980’s and 1990’s until late in the ’90’s when home prices began increasing at higher rate peaking around 2006 and then falling until around late 2011 early 2012 it was beck in line with CPI.  If you look closely, you will see, currently, home prices are just slightly above the CPI line indicating that, so far, so good, with regard to home prices.  If you want to take a closer look, click on the chart to be taken to the live chart on St Louis Real Estate Search.

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Continue reading Are St Louis Home Prices Too High?

St Louis Area Home Prices Have Surpassed 2006 Peak Prices

The median price of homes sold in St Louis (the 5-county core market) this year thus far has been $169,000, an increase of 5.7 percent from when the market peaked in 2006 at $159,900.  While the peak of the housing bubble is considered to be 2006, as the chart below shows, St Louis home prices actually peaked in 2007 at $162,000 but, in either event, St Louis home prices have regained what was lost when the housing bubble burst and then some.

This is in contrast to what is happening at the national level with regard to home prices as evidenced by comments made by two of the top economists as teh National Association of Real Estate Editors (NAREE) conference last week.  At the conference, Lawrence Yun, Chief Economist for the National Association of Realtors (NAR) said he “anticipates home prices will return to their 2006 peak sometime this year” and Frank Nothaft, Chief Economist for Corelogic (and formerly for Freddie Mac) predicted home prices nationally would not return to 2006 levels until the end of 2017.

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Continue reading St Louis Area Home Prices Have Surpassed 2006 Peak Prices

Insurance Claim Recommendations For Missourian’s With Storm Damage

The Missouri Department of Insurance issued some recommendations to Missourian’s that sustained property damage as a result of recent storms with regard to how to deal with the damage and handle insurance claims.

John M. Huff, the director of the Department of Insurance, said “Consumers who sustained property damage need to act now. Move quickly to protect your property from further damage and file claims with your insurance companies.”

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Below are the tips from the Missouri Department of Insurance: Continue reading Insurance Claim Recommendations For Missourian’s With Storm Damage

Bank and Government Owned Home Sales Down But Selling For Record Percentage of List Price

St Louis bank and government owned home sales are down as banks and government enterprises such as Fannie Mae, FHA, VA and Freddie Mac whittle down their inventory of foreclosed homes while, at the same time, new mortgage delinquencies and foreclosure rates continue to decline.  While this is good for the St Louis real estate market, it makes it tough on investors, as well as owner occupants, who are looking for a deal on a distressed sale, as the competition is growing fierce driving prices up and opportunities down.

St Louis Bank and Government owned home sales down over 30% from year ago:

As the charts below show, year to date, through the end of May, there have been a total of 1,598 bank or government owned 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), according to data available from MARIS, the REALTORS® MLS for the area, which is a decline of 31.4% from the same time a year ago when there were 2,100 bank and government owned home sales.

St Louis Distressed Home Sales Selling At Record Percentage of List Price:

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Continue reading Bank and Government Owned Home Sales Down But Selling For Record Percentage of List Price

St Louis Pending Home Sales At Highest Level In Years

St Louis pending home sales in May hit the highest level we have seen in years with 2,558 pending homes sales during the month in the 5-county core market*, an increase of 8.9% from May 2014 when there were 2,348 pending home sales.  Year to date this year, through the end of May, there have been 12,595 pending home sales, an increase of 7.8% from the same time last year.

St Louis Pending Home Sales – 5 County Core Market*

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St Louis Area Homes Are Affordable-Down payment Assistance Can Make Even More So

St Louis area homes are already affordable based upon the relationship between the median home price and median income for the area, but can become even more affordable when home buyers take advantage of down payment assistance programs that are available throughout the area.

Housing affordability is still good in spite of rising prices-

Data for April, from RealtyTrac, shows house payments on a median priced home in St Louis County required 23% of median income and in St Charles County required just 21% of median income while the national average was 23%.  Even with the hot market we have been in, and rising home prices in St Louis, affordability for April in both St Louis County and St Charles County were still lower than their historic norms of 24% and 22% respectively.

Downpayment assistance programs make homes even more affordable –

There are several (over 50) down payment assistance programs in Missouri with many of them available in the St Louis area.  To see a complete list of downpayment assistance programs available, along with complete program information, visit Downpayment Assistance Programs For Missouri.  To give you an idea of the type of assistance that is available, below is some data from buyers that received down payment assistance in the St Louis area in April 2015:

  • In St Louis County the average down payment help benefit received was $6,125.00 which represented 3.53% of the median sales price.
  • In St Charles County the average down payment help benefit received was $5,000.00 which represented 2.5% of the median sales price.
  • There are 24 down payment help programs available to people buying homes in St Louis County and 16 programs averrable to people buying in St Charles County.

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Complete Information On Over 50 Down Payment Assistance Programs Available In Missouri

How To Buy A Home In A Hot Market Like This One

It wasn’t that long ago that sellers were practically begging buyers to purchase their home but that is not the case today.  Today, in some very sought after St Louis neighborhoods the inventory of homes is so low and demand so high that when a new listing hits the market it’s like a feeding frenzy for buyers.  This has led to frustration and disappointment for many buyers leading some to become a little too overanxious and buy a home that really is not right for them or overpay for one out of fear of “missing out”.

So, how do you get your offer accepted on the home you want?

While there is no fool-proof or guaranteed method, my 35 years experience in the business, including being the principal in the purchase of more than 2,000 properties, as well as having an excellent recent track record of my buyer and investor clients getting contracts accepted and beating out the competition, has helped me develop some methods that I know work and will stack the deck in your favor.  While not all my suggestions are right for every situation, and a plan must be custom tailored to the specific buyer and transaction, here is a list of things that have worked when right for the given situation and client:

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St Louis Home Sales Are Up But Amount of Increase Varies Widely By Area

Further proof of just how “local” real estate is and how important it is for home buyers and sellers to have accurate, targeted, local data is the fact that today the St Louis Business Journal reported “home sales increased 17.9 percent year to date in the St. Louis metropolitan area, more than twice the national rate of 8.4 percent”.  While I’m not saying their reporting is inaccurate, as they were quoting data from the St Louis Federal Reserve, the problem is the data is based upon sales for the whole St Louis MSA which is comprised of 17 counties with 8 of them in Illinois as well as the fact the data does not come from what is probably the best and most accurate source of data, the REALTOR MLS.

However, many home buyers and sellers just see or hear the headlines from the media which could negatively impact you if you think the market you are buying or selling in is in fact stronger or weaker than you think.  For example, based upon the headline, if you were looking to buy a home in the City of St Louis you would probably find some comfort knowing you are buying somewhere where the housing market is so hot home sales have increased more than double the national average year to date from last year.  The reality is though, while home sales in the city of St Louis are doing better so far this year than last year, as the table below shows, this year there have been 1,385 homes sold, an increase of 7.7% from last year when there were 1,286 homes sold during the same period.  Don’t get me wrong, an increase of 7.7% is good however, it is actually below the national average of 8.4% and certainly not double the national average as the headlines and MSA data may make you think.

So what’s the answer?  Call me and I’ll make sure you get the accurate information you need for your particular situation and can also connect you with one of our professional, hand-picked agents that can help you put the data and information to work in your best interest whether buying or selling.  Seriously, don’t you think you deserve this for what may be the biggest financial transaction you make?  Call or text me at 314.332.1012 or email me at Dennis@STLRE.com.

Oh yeah, and check out all the tables below for accurate sales data for the REAL St Louis market as well as the individual counties.

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Continue reading St Louis Home Sales Are Up But Amount of Increase Varies Widely By Area

Just How Fast Are Homes Selling In St Louis?

We have been in the midst of a pretty crazy real estate market lately in St Louis with new listings in many areas and price ranges being subjected to a “feeding frenzy” by buyers.  It is not uncommon at all today to have two or three showings taking place on a new listing at the same time with the total of first day showings easily getting into double digits and a signed contract before the end of the 2nd day on the market. Naturally, not all homes in all areas and price ranges are selling this quickly but enough are to seriously be impacting the market.

So, just how fast are homes selling?

As the charts below show, the median days on the market (the number of days homes are listed before selling) for homes in the St Louis area has dropped dramatically over the past few years.  Currently, as of May, below are the median days on market for homes in several St Louis area counties as well as the change from a year ago:

  • City of St Louis – 22 days – down 54%
  • St Louis County – 12 daysdown 71%
  • St Charles County – 18 days – down 60%
  • Jefferson County – 28 days – down 57%
  • Franklin County – 80 days – down 32%

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Continue reading Just How Fast Are Homes Selling In St Louis?

Where In St Louis Are Homes Selling The Quickest?

The St Louis real estate market continues to be on fire in many areas with buyers flocking to new listings like St Louisan’s to a Cardinals versus Cubs game!  In some areas and price ranges it is not uncommon to have new listings receive 5 – 10 showings the first day and to sell within the first day or two and be sold before the ink is barely dry on the listing agreement.

 

St Louis’ Fastest Selling Neighborhood’s Are Selling 35% Faster Than Last Month!

Last month around this time I wrote a similar article with a list of the fastest selling neighborhoods in St Louis and Ballwin was in the #1 spot with a median of 34 days on market for the homes there.  This month, as the table below shows, Grover is at the top of the list with a median time on market for listings of just 22 days!

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St Louis Foreclosure Activity Trends Downward In Most Areas But Franklin County Spikes Upward

St Louis foreclosure activity in May 2015 continued the downward trend with a drop of almost 9 percent from the month before for the St Louis MSA as a whole, according to data just released this morning by RealtyTrac.  As the table below shows, foreclosure activity in May was up over 55% from May 2014, however, when we look at the 12 month rolling average, which gives a better indication of the trend (blue area in table) we see that for the 12 month period ended in May foreclosure activity is down over 13% from the same time a year ago.

Franklin County is the exception to the good news…

Franklin county, on the other hand, saw a big jump in foreclosure activity during May with action on 29 properties during the month, a decline from the month before, but a whopping 625% increase from a year ago.  The twelve month rolling average for Franklin County shows May 2015 was up 219% from May 2014.  In spite of this huge increase in foreclosure activity, Franklin County still has one of the lower foreclosure rates in the St Louis, MO area, in terms of number of foreclosures per total housing units, with just 1 foreclosure action for every 1,498 housing units.

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Continue reading St Louis Foreclosure Activity Trends Downward In Most Areas But Franklin County Spikes Upward

Over Two Million Boomerang Buyers May Buy Homes Over Next Five Years

Over two million (2.2 million) boomerang buyers may re-enter the housing market as home buyers over the next five years as their credit recovers to the point where they can obtain a home mortgage again, according to a study just released by Trans Union.  According to the study, 700,000 of those buyers will be eligible for mortgages this year alone.  Boomerang buyers are described as homeowners who lost their home in foreclosure, did a short sale, deed in lieu or had some other serious negative credit action with regard to their home mortgage, such as becoming 60 days or more delinquent.

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Boomerang Buyers

Source: TransUnion

New Home Construction In Midwest Slips In May After Spike in April

New Home Construction in the Midwest declined to a seasonally adjusted annual rate of return of 104,000 homes in May after hitting a rate of 123,000 homes in April.  April’s increase in activity brought the rate of new home construction to 23% above a year ago, but in May the rate fell to a point 1% below the same time last year, according to newly released date from the U.S. Commerce Department and U.S. Census Bureau.

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Building Permits Issued In St Louis MSA for Single-Family Homes

St Louis MSA New Home Building Permits Chart

Source: Federal Reserve – St Louis

Jefferson County Has Highest Rate of Foreclosures In Area

During the 2nd quarter of this year, there was foreclosure activity on one out of every 887 housing units in Jefferson County, giving it the highest foreclosure rate of the main counties making up the St Louis real estate market, according to a report just released by RealtyTrac.  St Charles County, with foreclosure activity on just 1 of every 1,620 housing units, had the lowest foreclosure rate for 2nd quarter of 2015.

From a housing density standpoint, St Charles County was number one with 2.56 people per housing unit and the City of St Louis had the least density with just 1.82 people per every housing unit.

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St Louis Foreclosure Activity 2nd Quarter 2015 - St Charles County Foreclosure Rate

St Louis Makes List Of Top Ten Metros In U.S. For Rate Of Zombies

That’s right, Zombies are very real and very present in St Louis…at least Zombie foreclosures that is!  That’s right.  According to a foreclosure zombie report just released this morning by RealtyTrac, St Louis made the list of “Top 10 Zombie Foreclosure Rates Among Major Markets”, coming in at number 6 on the list with 1 of every 1,627 housing units being a zombie foreclosure.  In the number 1 spot on the list was Tampa Florida where 1 of every 217 housing units is a zombie foreclosure (the complete list, and infographic, is below).

What is a Zombie Foreclosure?

Yet another new term that is common place in the real estate community now, but was not 10 years ago, is “Zombie Foreclosure”.  This term has been applied to homes whereby the homeowner is in default on their mortgage and headed to foreclosure but vacates the home prior to actually losing it in foreclosure.  This often results in the property becoming blighted while going through the process, and until the bank obtains ownership of the home, as no one is there taking care of it and the owner has given up.  Zombies are not good for neighborhoods nor home values of the surrounding homes.

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Continue reading St Louis Makes List Of Top Ten Metros In U.S. For Rate Of Zombies

St Louis County Cities With Highest Home Prices

What cities in St Louis County have the highest home prices?  Well, based upon homes that are either currently for sale or sold within the past year, the top 3 spots on both lists (current market or past 12 months0 are occupied by the St Louis County cities of Huntleigh, Country Life Acres and Ladue.

Average Sold Prices Are Lower Than Current List Price Average

When comparing the list of highest priced cities based upon the prices homes sold at in the prior 12 month period versus the prices current homes are listed at, the average current list prices are higher in many of the cities at the top of the list.  For example:

  • Country Life Acres sold price $ 1,324,481 current average list price is $ 1,847,000
  • Huntleigh sold price $ 1,245,625 current average list price is $ 3,248,857
  • Ladue sold price $ 912,183 current average list price is $1,497,819
  • Clayton sold price $ 874,840 current average list price is $ 1,377,771
  • Kirkwood sold price $ 317,701 current average list price is $ 426,314

See the tables below for more cities.

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Continue reading St Louis County Cities With Highest Home Prices

Got Gas?

Yes, I’m referring to CO Gas, more commonly known as Carbon Monoxide, of course!

Carbon monoxide (CO) is a silent killer! There are many reasons why you should have a fully functional Carbon monoxide (CO) detector in your house at all times!

First we need to understand the facts!

  • Carbon Monoxide is deadly! It is an odorless, colorless and poisonous gas.
  • Carbon Monoxide is produced by the incomplete burning of various fuels such as; coal, wood, charcoal, oil propane and natural gas. Simple things that may be found in a home!
  • On average, about 170 people in the United States die each year from the Carbon Monoxide produced by non-automotive consumer products.
  • Carbon Monoxide replaces oxygen in the blood stream, so you can die from a high concentration in a short period of time.

What are the symptoms?

This short Video on Carbon Monoxide Will Show You How To Protect Yourself & Your Family
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Do Conventional Buyers Get Better Deals Than FHA Buyers?

The other day I had a client, who was planning on using FHA financing, as me if I thought she would be able to negotiate as good of a deal as if she was obtaining a conventional loan.  The concern was that, as an FHA buyer, would she be perceived as a weaker buyer in the seller’s eyes since FHA’s credit and income guidelines are not as stringent as Fannie Mae, and FHA requires a smaller downpayment as well.

This prompted me to do some research to see if I could determine if there was any merit tot he concern that a buyer going FHA may not be able to negotiate as good of a deal as a buyer putting more money down and going conventional.  To determine this, I looked at homes sold in St Louis County during the month of May with financing terms reported to the MLS and then looked at the percentage of the list price that FHA buyers paid versus the percentage of list price conventional buyers paid and here are my findings:


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Missouri Ranks 30th In The Nation On Public School Spending Per Pupil

The State of Missouri spends $9,597 per pupil on public schools and is ranked 30th in the nation in terms of spending per pupil, according to data just released by the U.S. Census Bureau.  The median amount spent per pupil across the nation is $10,700 and New York is the state with the highest spending at $19,818 per pupil.  Utah, with spending of just $6,555 per pupil for schools, came in last on the list in terms of spending.

Missouri’s Administrative Costs For Education Much Higher Than Average:

Just a little over nine percent (9.1%) of Missouri’s public school expenditures are for administrative expenses as opposed to instruction or support services, which is 23% higher than the average of 7.38% nation-wide.  While all the states in the nation managed to keep their administrative costs to single digits, the District of Columbia was not and, in fact, at 19.03% was over two and a half times the national average.  Interestingly enough, New York, the state with the highest per pupil spending, had the lowest rate of administrative costs.

See all the details for Missouri as well as all 50 states, plus the District of Columbia, here.


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Characteristics Of New Homes Built In 2014

There were 437,000 new homes sold (single-family) in the U.S. last year, down from a peak of 1,283,000 in 2005.  Roughly ten percent of the single-family homes sold were attached homes (44,000) and the remaining ninety-percent (393,000) were detached homes, according to data just released by the U.S. Census Bureau.

Facts and Figures For New Homes Sold In The Midwest During 2014:

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