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

Dennis Norman

Dennis Norman

By: Dennis Norman

For the past two days I have written about 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. 

Today will be the final post in this series in which Karen has been shared her insights with us on the real estate market in St. Charles County.  Now we’ll pick up where we left off yesterday:

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

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

Dennis – We hear a lot about REO’s, foreclosures and short sales being a large part of the sales activity in many local markets.  Do you know what percentage of the current activity in St. Charles County would be these types of sales?  Also, please tell us how they affect your market.

Karen – I do not have the percentage of REO/Foreclosures/Short Sales nor can I say that they do not exist but St. Charles County has not been as adversely affected as some areas in the Metropolitan area by these types of sales.  Some people can see that this is an opportunity for these “distressed” homes to be sold and brought back up to market value.  I see this as a chance to revitalize neighborhoods that may have been affected by an increased number of foreclosures.

Dennis – What do you feel are the best opportunities today for home buyers in St. Charles county?

Karen – St. Charles County has a lot to offer to home buyers.  Three cities in St. Charles County have been rated top places to live in the U.S.  Lake St. Louis just recently received that distinction.  There are so many homes in so many prices ranges with a wide variety for buyers to choose.  The new home market is where buyers can probably get the largest incentives; free options, point buy downs and closing costs are being offered by many builders.  The builder I work for in Wentzville, Granite Homes, is offering $8,000 in closing costs to our buyers.  Couple that with the $8,000 tax credits and buyers, especially first-time buyers, would be remiss not to buy in 2009.

Dennis – OK, that’s good news for buyers but now what about sellers?  How are sellers in St. Charles County doing and what advice would you have to a seller?

Karen – If you are a home seller in St. Charles County the old rules still apply; price and condition of your home.  Maybe you might not get as much as you want in the sale of your home but if you are buying another home you are not paying more for it either.  Price it (your home) correctly and if it shows well there is really no reason that you cannot sell your home.  Home sellers should understand that average days on  market are still a little longer than in the past and need to be patient.  About 70% of pending sales in St. Charles County are for homes that are $200,000 or less.  The “sweet spot” is about $180,000 and ranch-style homes still seem to “rule” in St. Charles County.

Thanks again to Karen Vennard to take the time to talk with us about the St. Charles County market and to share her knowledge and insights on it.  If you wish to contact Karen directly with questions about the St. Charles County market, below is her contact info:

Karen Vennard – Office phone – (636) 379-3699, Cell phone (314) 602-1600, email kvennard@charter.net.

To read part one of this series please click here. 
To read part two of this series please click here.

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