Real Estate Market - St Louis Real Estate News

St. Charles County Association of REALTORS(R) Presidents’ view of the market – Part two

By Dennis Norman, on July 22nd, 2009

Dennis Norman

By: Dennis Norman

Yesterday I began my E-View with Karen Vennard, the 2009 President of the St. Charles County Association of REALTORS(R) to get her take on the real estate market in St. Charles County.

Karen’s extensive knowledge of the market was apparent in her informative answers in yesterdays E-View. Now we’ll pick up where we left off yesterday:

Karen Vennard, 2009 President, St. Charles County Association of REALTORS

Dennis – Where do you see the real estate market in St. Charles County at now?

Karen – I see the market recovering; there has Continue Reading →

St. Charles County Association of REALTORS(R) Presidents’ view of the market – Part 1

By Dennis Norman, on July 21st, 2009

Dennis Norman

By: Dennis Norman

According to the website for the Economic Development Center for St. Charles County, the county was established October 1, 1812. St. Charles County encompasses 561-square-miles of diverse landscape spreading out westward from the confluence of the Mississippi and Missouri Rivers.

According to the Census Bureau, in 1970 the population of St. Charles county was 92,954. By 2008 the population had grown to 349,307, an increase of over 275% in that 38 year period. During the same period St. Louis County had a modest increase in population of just over 4% growing from 951,671 Continue Reading →

Report shows St. Louis metro prices to decrease by 2% in next 12 months

By Dennis Norman, on July 20th, 2009

Dennis Norman

By: Dennis Norman

A report published by Local Market Monitor, Inc. predicts the St. Louis metro area will see real estate values decline 2% in the coming 12 months. This projection does not sound bad and would support the possibility that the market is leveling off and perhaps we have seen the bottom.

Local Market Monitor Graph – St. Louis Metro Area, Home Values Forecast vs. Actual

The report also states that in the St. Louis metro market jobs have fallen by 2.5% in the past year, compared with a drop of 4% nationwide. Continue Reading →

30 year mortgage rates this week at 5.14%; lowest since May

By Dennis Norman, on July 18th, 2009

Dennis Norman

By: Dennis Norman

Freddie Macs weekly mortgage market survey mortgage rates dropped this past week, making it the third week in a row rates came down.

The survey shows 30 year fixed rate mortgages averaging 5.14% with 0.7% in fees and points, down from 5.20% the week before. This is the lowest rate reported in Freddie Mac’s survey for a 30 year fixed rate loan since May. Rates on 15 year fixed-rate mortgages dropped very slightly as well, down to 4.63% from 4.69% the week before, 5/1 ARM’s held about the same at 4.83% and Continue Reading →