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. Continue Reading →
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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. Continue Reading → 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. Continue Reading → 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). Continue Reading → The city of St Louis came in at the top of list of RealtyTrac’s “Top Buyer’s Markets”, just released this morning. For the report, RealtyTrac analyzed average sales prices and estimated market values at time of sale for homes and condos sold in April in 315 U.S. counties to come up with a list of the Top Seller’s Markets and the Top Buyer’s Markets. Continue Reading → St Louis foreclosures increased in April from the month before in the St Louis area counties of St Charles, Jefferson and Franklin, were fairly level in St Louis County and declined almost 12 percent in the city of St Louis. For the 5 counties that make up the core of the St Louis real estate market, the median increase in foreclosure activity in April 2015 from the month before was, as the table below shows, 10.68%, and, compared with foreclosure activity from April 2014, the median increase in foreclosure activity was almost 30 percent, according to data released this morning by RealtyTrac. Continue Reading → A definite confirmation of an improving real estate market is the fact that, according to a report just released by RealtyTrac, loan originations, for the purchase of a home, during the first quarter of 2015 increased 17 percent from a year ago. Additionally, Kansas City, Missouri saw the 4th largest increase from a year ago, of major metro areas, with a 32 percent increase in home loans. St Louis made the top 20 list for year or year increases with a 13 percent increase. (We work hard on this and sure would appreciate a “Like”)[iframe http://www.facebook.com/plugins/like.php?href=https%3A%2F%2Fwww.facebook.com%2FStLouisRealEstateNews&send=false&layout=standard&width=50&show_faces=false&font&colorscheme=light&action=like&height=35&appId=537283152977556 100 35 ] Flipping homes accounts for a smaller percentage of home sales today at about 4 percent of total home sales in the U.S., then in the recent past when they accounted for 6 percent of more of the homes being sold (6.8% at the recent peak in 1st quarter 2012), according to a report released today by RealtyTrac. Continue Reading → House flipping in St Louis accounted for just 2.4 percent of the home sales in the St Louis metro area during the first quarter of this year, according to data just obtained from RealtyTrac. Continue Reading → Foreclosure activity in St Louis was on the rise in March with the foreclosure rate for the St Louis metro area increasing 14 percent from a year ago and over 64 percent from February, according to the latest data from RealtyTrac. As the chart below shows, foreclosure activity for the larger Missouri counties that are included in the St Louis MSA saw foreclosure actions decline from a year ago with the exception of Franklin County which saw a big increase. Continue Reading → Seriously underwater homeowners, those people whose mortgage debt is 125 percent or more of their current home’s value, increased to 13.2% of all home loans during the 1st quarter of 2015, marking the first increase in rate from the prior quarter since February 2012, according to a report released this morning from RealtyTrac. Continue Reading → RealtyTrac published a report earlier this week that prompted an article on Bloomberg Business with a headline of “U.S. Home Prices Are Surging 13 Times Faster Than Wages”. RealtyTrac’s report included a chart (below) showing several metropolitan areas throughout the U.S. where, over a recent two year period, home prices were outpacing wages and that “either wages are going to need to go up or (home) prices are going to need to at least flatten out and wait for wages to catch up”. Continue Reading → St Louis foreclosures declined in February for the St Louis MSA with a total of 843 foreclosure actions occurring during the month, a decline of over 22 percent from the month before and a decline of over 10 percent from a year ago, according to data just released this morning by RealtyTrac. Continue Reading → Two zip codes in 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%. Continue Reading → 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. Continue Reading → 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. Continue Reading → 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. Continue Reading → 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. Continue Reading → 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. Continue Reading → 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 Continue Reading → 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. Continue Reading → St Louis Distressed Home Sales ticked up slightly in November 2014 rom October but declined over thirty percent (30.8%) from November 2013, according to data just released by RealtyTrac. As the table below shows, all the counties in the St Louis core market except one saw an increase in distressed home sales in November from the month before and all saw a decline in November from a year ago. On a national level, distressed home sales in November 2014 accounted for 12.6% of all home sales, down from 13.7% in October and from 14.8% in November 2013. (We work hard Continue Reading → St Louis foreclosure activity continued to decline in November with the number of foreclosure actions decreasing in all of the St Louis core counties from the month before, according to a report just released this morning from RealtyTrac. The St Louis MSA as well as the core counties that make up the bulk of the St Louis market in Missouri, also saw double digit declines in foreclosure activity in November from the year before with the exception being Jefferson County which, as the table below shows, saw an increase of almost 90%. (We work hard on this and sure would Continue Reading → St Louis Distressed Home Sales continue to have less impact on the St Louis real estate market paving the way for sustainable home appreciation, according to the latest data available from RealtyTrac. According to the chart below, short sales in St Louis accounted for just 1% of the overall home sales last month, a 10% decrease from the month before and a decrease of almost 68% from a year ago. Nationally, short sales accounted for 5% of all home sales last month. St Louis REO’s (bank-owned properties obtained through foreclosure) declined slightly in October from the month before and dropped Continue Reading → Property “flips” in St Louis slowed during the 3rd quarter of this year to just 234 properties flipped in the St Louis MSA during the quarter making up 2.6% of overall home sales for the quarter, a decline of 20% from the quarter before and a decline of 55% from the third quarter of 2013, according to data just released by RealtyTrac. Property flipping is a term that has been loosely applied to a variety of real estate transactions but, for the purpose of this report, was considered to be when a single family home sold in during the third Continue Reading → St Louis Foreclosure Activity was on the rise during the month of October with a big spike in foreclosure activity from the month before in St Charles and Franklin Counties as well as the St Louis MSA as a whole, according to newly released data from RealtyTrac. As the table below shows, St Charles County saw an increase of over 3,000% in foreclosure activity during the month of October from September, and over a 400% increase in activity from October 2013, however, this is the result of a large influx of REO property in October. When you look at the Continue Reading → Cash home sales’ percentage of overall home sales declined during the 3rd quarter of this year from the 2nd quarter in the city of St Louis as well as St Louis and St Charles County, according to data just released by RealtyTrac. As the table below shows, the counties of Jefferson and Franklin saw cash sales take a bigger share of their home sales during the same period. Purchases of homes by institutional investors increased during the 3rd quarter from the quarter before in Franklin and Jefferson County as well as the City of St Louis and declined in St Continue Reading → Halloween may be just two days away however zombies are getting harder to find in St Louis, or at least “foreclosure zombies“. That’s right, according to the latest data from RealtyTrac, during the 3rd quarter of this year St Louis had 481 zombie foreclosures (homes in the foreclosure process, not yet foreclosed upon and the owner has vacated) or about 33 percent of the St Louis foreclosures. This is down 40 percent from the quarter before and down 70 percent from a year ago. This is good news as zombie foreclosures quickly become a nuisance as well as an eyesore Continue Reading → Distressed home sales in St Louis accounted for 7.97 percent of all home sales during the 3rd quarter, down from 9.84 percent the quarter before and down a whopping 40 percent from a year ago when distressed sales accounted for 13.6 percent of all homes sold in the St Louis MSA, according to the latest data from RealtyTrac. State-wide for Missouri, distressed home sales made up 7.12 percent of home sales during 3rd quarter, lower than the rate for St Louis however, at the other side of our state, in Kansas City, distressed home sales share of home sales was Continue Reading → Over half of the homeowners in Ferguson are in a negative-equity position meaning their current mortgage loan balance exceeds the current value of their home, according to data from RealtyTrac. According to the latest data available, 51% of the homeowners in Ferguson with a mortgage are seriously underwater on their mortgages with balances that are equal to or higher than 125% of the value of their homes. Another 14% of Ferguson homeowners have mortgage balances of between 90% and 110% of the value of their homes. Ferguson Serious Underwater Rate More Than Double Rate for St Louis MSA… As the Continue Reading → |
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