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St. Louis Real Estate Search

 

What should a home buyer know about home inspections? Part four of a series

Gerry Loesch, PE

In part one, part two and part three of this series I gave you some background on Gerry Loesch as well as his informative E-View TM. Now we’ll pick up where we left off.

Gerry’s closing remarks show his passion for his profession: “I still love what I do. It […]

Home buyer tax credit update-October 30, 2009

Dennis Norman

In yesterday’s update I had some rather encouraging news about the possible extension of the first-time home buyer tax credit of $8,000 that has stimulated some home buying but is set to expire on November 30th. The good news was that there is an agreement amongst the powers that be with […]

Home buyer tax credit update

Dennis Norman

I have been talking a lot lately about the first-time home buyer tax credit of $8,000 that has stimulated some home buying but is set to expire on November 30th. I have also shared the efforts by organizations such as the National Association of REALTORS, The Mortgage Bankers Associaiton, The National […]

What should a home buyer know about home inspections? Part three of a series

Gerry Loesch, PE

In part one and part two of this series I gave you some background on Gerry Loesch as well as his informative E-View TM. Now we’ll pick up where we left off.

Gerry graduated from the University of Missouri at Rolla with a Bachelors and Master degree in Civil Engineering. […]

What should a home buyer know about home inspections? Part two of a series

Gerry Loesch, PE

In part one of this series I gave you some background on Gerry Loesch as well as the beginning of his informative E-View TM. Now we’ll pick up where we left off.

Gerry served as the National President of ASHI (American Society of Home Inspectors) in 1984-1986 and has served […]

St. Louis Real Estate News – St Louis mortgage rates inch up this week

By: Dennis Norman

St. Louis mortgage rates inched up a little this week according to St. Louis-based Paramount Mortgage Company.

Between these low rates and the $8,000 homebuyer tax credit that is available until Nov 30th, I would think there is a lot of incentive for a first-time buyer to buy a home now […]

St. Louis Real Estate News – What should a home buyer know about home inspections?

Gerry Loesch, PE

To answer this question I called upon Gerry Loesch, a 30 year veteran home inspector with an impressive resume. Gerry was kind enough to do an in-depth E-View TM with me on the subject of home inspections. Gerry’s experience and knowledge shows in the depth and detail of his answers.

[…]

St. Louis Real Estate – St. Charles County home price declines vs assessors property values; Update

Dennis Norman

Last week I did a post after reading an article on StlToday.com about the change in property values being made by St Louis area assessors from 2007 to 2009. As I pointed out in my article I assumed the values shown by the assessors including ALL types of property and not […]

Web Site Launch Promoting “Vote YES to Stop Double Taxation”

A new Web site provides Missouri voters with information about a proposed state constitutional amendment barring politicians from imposing double taxation on sales of homes and other real estate. I would encourage Missouri residents to visit www.YesToSaveHomes.com to learn more about the proposal.

[…]

St. Louis Real Estate Market Update – 3rd Quarter Report

Dennis Norman

Due to the overwhelming demand for up to date information on the St. Louis housing market, as well as the positive response to our prior reports we have published, at St. Louis Real Estate News we will now be publishing “St Louis Real Estate Market Update Reports on a regular basis. We […]

St. Louis Real Estate – St Louis area home price declines vs assessors property values

Dennis Norman

In an article this morning on StlToday.com I saw where property values, as determined by the St. Louis CountyAssessors office, declined 6.1 percent from 2007 to 2009. Hmm, I thought, that sounds pretty good actually, I think the St. Louis housing market would be doing great if that was close to reality. […]

St Louis Real Estate – Reverse mortgages pave the way to financial freedom for many St Louis seniors

By: Dennis Norman

Many seniors find themselves in a situation where there are struggling to keep up with rising costs of gasoline, utilities, property taxes and insurance but yet they own a home that is either paid for or has a significant amount of equity. Since, in many cases, they have been in […]

St. Louis mortgage rate drop to 5 percent this week for a 30 year fixed rate mortgage

By: Dennis Norman

Mortgage interest rates are already low, but dropped a little further this week, according to Paramount Mortgage Company.

Between these low rates and the $8,000 homebuyer tax credit that is available until Nov 30th, I would think there is a lot of incentive for a first-time buyer to buy a […]

HAMP loan modifications up 40 percent in September; Serious mortgage delinquencies up 147 percent in past year

Dennis Norman

By: Dennis Norman

Yesterday the Federal Housing Finance Agency (FHFA) reported that Fannie Mae and Freddie Mac’s trial mortgage loan modifications under the Obama Administrations Home Affordable Modification Plan (HAMP) were up more than 40 percent in September 2009 from the previous month. According to the report, mortgage loans that are […]

St Louis housing prices projected to drop 1 percent in next 12 months

Dennis Norman

By: Dennis Norman

Veros Real Estate Solutions released their quarterly report projecting how the housing market is going to perform in the next 12 months in major metropolitan areas of the U.S. The bad news for St. Louis is, we didn’t make the list of top 5 metros in terms of […]

Over 30 percent of St. Louis homes for sale have had price cut

Dennis Norman

Last week I did a post on another blog about a report that had just been released by Trulia indicating that over 25 percent of the homes listed for sale in the U.S. had experienced a price reduction in the 5-month period from June 1 through October 1st and that the […]

New! Local St. Louis Mortgage Rates

Dennis Norman

By: Dennis Norman

In the past I have been doing weekly posts with updated current mortgage rates based upon national data from either Freddie Mac, Fannie Mae or the Mortgage Bankers Association. However, just like real estate, mortgage rates are “local” to some extent and do vary in different markets.

[…]

Mortgage rates increase; loan applications decrease

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending October 9, 2009. The report showed an increase of 1.8 percent in mortgage loan applications from the week as interest rates inched back above 5 percent for the first time in four weeks.

Refi’s continue to […]

The St. Louis Real Estate Market Bubble and Burst; St. Louis County hurt the worst in the area

Dennis Norman

Statistics and reports are flying at us from every direction about the real estate market nowadays. Some reports say we have hit bottom, some even say the housing market has started a recovery others say worse times are ahead. Since I don’t think anyone can really tell us what the future […]

Over 360,000 borrowers have taken advantage of Fed’s Loan Modification Program

Dennis Norman

By: Dennis Norman

Earlier this week the Treasury Department released it’s eight “Tranche” report updating the status of the TARP (Troubled Asset Relief Program) which includes the Home Affordable Modification Programthat I have written about on several occasions. The report shows that progress is being made with regard to loan modifications with […]

Foreclosure Rate in St. Louis Increases

Dennis Norman

By Dennis Norman

Foreclosure rates in St. Louis increased for the month of August over the same period last year according to a report released today by First American CoreLogic. The report showed the St. Louis metro area to have a foreclosure rate of 1.24 percent in August, up just slightly […]

Homebuyer Tax Credit Best Tool for Sustaining Housing Recovery, Says NAR

Dennis Norman

By: Dennis Norman

The best available tool for sustaining the still-fragile housing market is the $8,000 homebuyer tax credit, (expires November 30) and it is essential that Congress extend the credit into 2010, the National Association of Realtors® testified at a hearing of the U.S. House Small Business Committee yesterday.

NAR […]

MBA urges US House Small Business Committee to Extend and Expand Homebuyer Tax Credit

Dennis Norman

By: Dennis Norman

Today, testifying before The US House of Representatives Small Business Committee, the Mortgage Bankers Association (MBA) told the committee that the current credit cycle and recession began in the U.S. housing market, and recovery will not be complete until the current oversupply of house on the market has […]

Mortgage interest rates on 30 year loan stay below 5 percent for third consecutive week

Dennis Norman

By: Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending October 2, 2009. The report showed an increase of 16.4 percent in mortgage loan applications from the week before fueled by interest rates remaing below 5 percent.

Unfortunately interest rates seem to be […]

Mortgage Programs Fall Short in Keeping Homeowners out of Foreclosure

To alleviate some suffering by homeowners, the Obama Administration introduced the “Making Homes Affordable” plan last March. Unfortunately, the plan has not yet had the intended effect.

Article by the Grand Law Firm

Economists debate whether or not the country is actually currently in a recession. Some say that there are positive signs that […]

Missouri Association of REALTORS working to prevent double taxation

Dennis Norman

By: Dennis Norman

According to a report prepared by the Federation of Tax Administrators (FTA) in 2006, thirty-five states plus the District of Columbia impose a real estate transfer tax. What a transfer tax amounts to is when you sell or transfer a house (or other real property) you pay a […]

Homebuyer tax credit has been primary cause of recent return of buyers to market according to study

Dennis Norman

By: Dennis Norman

Results have just been released of a study conducted by Rosen Consulting Group as to the effectiveness of the 2009 first-time-homebuyer tax credit and the potential need for an extension of the credits.

The Rosen Consulting Group was retained by Fix Housing First, a coalition that was originally […]

Dept of Defense Homeowners Assistance Program expanded to help people

Dennis Norman

By: Dennis Norman

The Homeowners Assistance Program (HAP)was established back in 1966 to give some monetary relief to eligible service members and federal employees who suffer financial loss on the sale of their primary residence when a base closure or realignment announcement cause a decline in the residential real estate market and […]

Time is running out to take advantage of Freddie Mac’s ‘SmartBuy’ Sales Promotion

By: Dennis Norman

Back in July I did a post about Freddie Macs “Smartbuy” sales promotion for owner-occupants buying Freddie Mac Homesteps(R) Homes. The special offer began July 17, 2009 and ends October 30, 2009 so there is less than a month to take advantage of it.

Under this promotion people buying a […]