St Louis continues to enjoy a pretty robust real estate market, albeit it a challenging one for buyers due to the low inventory of homes for sale in most areas, with St Louis home sales, during the past 12 months, up over 5 percent from the prior 12-month period and St Louis home prices up over 5 percent for the same period as well. Continue Reading →
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Of the 6,137 homes that were sold in St Charles county during the past 12 months, 5,839 (95%) of them had a garage. Nearly 68 percent of the homes sold with a garage in St Charles county had a 2-car garage, nearly 24 percent a 3 car garage or larger and just 8.5 percent had a one-car garage. So, if you are a St Charles county homeowner with a one-car garage, how much can you expect to be impacted price-wise when you sell? Of, if you are a buyer, looking at a home in St Charles county with a one-car garage, how much should you discount what you pay for it versus a similar home with a 2-car garage? Continue Reading → I am always marveled by great marketing and promotion therefore I must give a tip of the hat to Zillow® for their new “Instant Offer” program. First, it’s getting them tons of attention and press, particularly within the REALTOR® community, which is probably where it is the most beneficial to them since agents are, after all, Zillow’s® paying customers. Continue Reading → New home sales in St Louis declined in 2016 after increasing during the prior two years, for both the entire St Louis MSA as a whole as well as the St Louis 5-County Core Market. Continue Reading → Investors that rental property may find their best returns, relative to the price of the homes they buy, in the City of St Louis, according to some county-level rental data compiled by MORE, REALTORS. As the tables below illustrate, over the past 12 months the median price of homes sold in the City of St Louis was $106.57 per square foot and the median annualized price per foot homes lease for was $11.04 which works out to a gross annual return on investment of 10.4%, the highest of the four St Louis area counties we looked at. Continue Reading → While it’s not a new thing, there have certainly been a lot more “coming soon” riders on for sale signs in yards over the past couple of years than in prior years. This has created some questions among home buyers particularly when they ask their buyer’s agent about seeing the listing are told it is not available to be shown yet, then later see the rider on the for sale sign change from “coming soon” to “sale pending”. Continue Reading → Last month the median price of homes sold in the St Louis MSA was a very-affordable $169,000 however, during past 12 months, homes have sold for as much as over 50 times that amount in St Louis. That’s right, during the past year there was a home that sold for $9,000,000 in St Louis, over 53 times the median St Louis home price. The $9,000,000 St Louis home that was sold was at 2105 South Warson and sold in November of last year for $9,000,000. The next highest home sale was a $4,000,000 one at 760 Kent Road, followed by 2 more Ladue homes. In all, 13 of the 31 homes that sold in St Louis for more than $2,000,000 (based upon MLS data) were in Ladue, 7 were in Clayton (3 of those being condo’s), 3 in Town & Country, 2 in Huntleigh, 2 in Chesterfield, 2 in Creve Coeur and 2 in the Central West End (both were condos at the Private Residences in Chase Park Plaza). Continue Reading → One of the more controversial topics to discuss within the REALTOR community is the topic of agent bonuses, a bonus that a seller, by way of the listing broker, would pay to the agent that sells their home, over and above the normal sales commission. Sometimes seller’s, or their listing agents, see this as a way to draw more attention to their listing and to encourage buyer’s agents to show it and sell it. However, there are many conflicting opinions on this topic within the industry which creates some confusion for seller’s (and buyer’s for that matter), so I thought I would take some time to discuss it. Continue Reading → If you are in the market for a 30,000 home with multiple guys suites, apartments for employees, bowling alley, racquetball court, spa, salon, 5,000 bottle wine cellar and a whole lot more on 4 pristine acres in Ladue, then you’re in luck! The home of Dennis Jones, the founder of Jones Pharma, Inc., and his wife Judy, just hit the market with a price tag of $10.75 million, making it the most expensive current listing in the St Louis area. In fact, according to MLS records, there has never been a home sold in St Louis for $10,000,000 with the highest being the home of Robert Fox at 2105 South Warson, which sold in 2015 for $9,000,000. Continue Reading → 
“Should I sell my home myself” is something that some sellers are asking today, particularly those in fast selling neighborhoods and areas where the inventory of homes for sale is low, after all, how hard can it be to sell a home if homes are in such high demand? Continue Reading → The National Association of REALTORS®, Case-Shiller and a host of other organizations report home sales prices on a monthly basis (as do we) usually with comparisons of the current months’s pricing to the month before as well as the same month in the prior year. While this is a very good way of spotting trends as well as a leading indicator to show what the near term future may hold in store, this is not necessarily the best data to base the annual change of home prices on. Continue Reading → There were 2,290 St Louis Existing Homes Sold in April (in the 5-county core market), an increase of 1.0 percent from April 2015 when there were 2,265 homes sold. The median home price of homes in the St Louis 5-county core market (city of St Louis and counties of St Louis, St Charles, Franklin and Jefferson) during April 2016 was $173,850, an increase of 4.4 percent from April 2015 when the median price of existing homes sold was $166,500. For the combined markets of the City of St Louis and the County of St Louis, there were 1,241 existing single Continue Reading → Yes, believe it or not, in spite of how fast some homes, in some price ranges and neighborhoods are selling, often the first day on the market, and in spite of how many St Louis markets are currently seller’s markets, giving seller’s the upper hand in negotiations, there are some buyer’s markets in St Louis, where the buyer actually has an advantage over sellers! To find these markets, there is no one statistic or piece of data that can identify it, but I use a couple to find those markets and will share what I feel are currently the best places in St Louis to be a home buyer today. Continue Reading → It’s a beautiful spring Sunday morning in St Louis and many people will spend part of the afternoon touring open houses…some looking for their next home, some to see what homes in their neighborhood are selling for and some simply to kill time, satisfy curiosity or get some decorating ideas. Whatever your reason for seeking out St Louis open houses, the best source to find information on all the homes that are scheduled to have open houses today (with information from a database that is updated direct from the MLS!) is StLouisOpenHoues.com. Continue Reading → Today is earth day, so here are some interesting housing facts from the U.S. Census Bureau, related, more or less, to earth day issues: Continue Reading → St Louis home prices appear to be trending downward a little even though we are in the midst of a fairly robust spring market. This is based upon the current price per foot of active listings for sale compared with what home sales that closed last month, as well as prior 12 months, sold for on a per-foot basis. As the tables below show, the price per foot trend is down in all 6 counties we track, with the biggest downward trends showing in St Louis County and the city of St Louis, both of which have seen the median price per foot of active listings fall below what homes in those counties sold for in the prior 12 months. Continue Reading → It’s hard to drive through a neighborhood today and not see a “coming soon” rider on a for sale sign in front of a house. With the St Louis real estate market still favoring sellers in many markets due to a low supply of homes for sale, it’s not surprising that coming soon listings create somewhat of a fervor among would-be buyers and their agents. Continue Reading → St Louis home prices have been, for the most part, increasing over the past couple of years at what most would consider from a historical basis, a “normal” rate. However, market conditions can vary widely from neighborhood to neighborhood as illustrated by the table below which shows St Louis zip codes where homes prices (on a per square foot basis) have increased the most in the past year. As the table shows, there are 13 zip codes in the St Louis area where home prices, on a per foot basis, increased over 10% during the 12 month period ending January 31, 2016 from the prior 12 month period. Continue Reading → The St Louis real estate and housing market saw a good year last year but, as we are frequently reminded, real estate is very “local” and prices, as well as market conditions, can vary widely even between cities or towns just a mile or two apart. This is clearly illustrated when I look at a report our company produces, based upon home sales data, obtained directly from the St Louis REALTOR® MLS, that shows the median price per foot for homes sold (or currently for sale) throughout the St Louis area. I like price per square foot data as I believe that is one of the more accurate ways of seeing trends in home prices. We compile this data and publish it live, and real-time, online, for each city in St Louis as well as zip code. Continue Reading → 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 Continue Reading → 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”. Continue Reading → 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” which would if you are looking to buy a home, say in the City of St Louis, may influence your decision thinking it’s a hot selling area. Continue Reading → 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. Continue Reading → There is no doubt the St Louis real estate market has been HOT thus far this spring and homes are selling well. Personally, four, of the last five listings I’ve taken, sold within the first day of hitting the MLS. Granted, there is a lot that goes into this in terms of pricing, marketing strategy etc., but even with everything done perfectly we weren’t seeing results like this last year Continue Reading → This week, the 10,000 square foot Ladue Manse that is the home of Barry H. Beracha and his wife Barbara, came on the market with a price tag of $3,75 million. “Casual elegance” is how the listing describes this 16 room home, with 5 bedrooms, 7 bath rooms and a 1.5 acre lot located at 5 Warson Hills Lane in Ladue. Mr. Beracha currently serves as a Director for Hertz Global Holdings, Inc. and, prior to retirement, served as Chief Executive Officer of the Sara Lee Bakery Group. 5 Warson Hills, Ladue, Misouri 63124 To view all Continue Reading → Traditionally the only Rental history that gets reported to the credit bureaus is negative! If you fail to make your payment to your landlord…look for a collection account or even a judgment to show up on your credit profile and potentially drop your credit score like a rock! Continue Reading → Robert G. Brinkmann, founder and CEO of Brinkmann Constructors, has listed for sale his 12,000 square foot St Albans estate home for $8.5 million. The Brinkmann estate, named “La Charette”, sits on 15.7 acres overlooking the Missouri river valley and claims to have “the most beautiful views in St Louis”. I was pondering the name given the estate, “La Charette”, and did a little research to try to find a connection between the name and Brinmann, who built the home 12 years ago. I looked first at the french definition of the word which is basically a “cart”, sort of like a chariot or wagon which at first made no sense to me until I discovered this type of French cart was often used to transport drawings. However, the other definition I found of it, which seems perhaps even more fitting, is (from Merriam’s) “the intense final effort made by architectural students to complete their solutions to a given architectural problem in an allotted time or the period in which such an effort is made.” Continue Reading → St Louis pending home sales increased in September to 2,285 for the 5-county core St Louis housing market (St Louis city and the counties of St Louis, St Charles, Jefferson and Franklin) from 2,203 in September 2013, an increase of 3.7%, according to the latest MLS data. Year to date, the number of pending home sales for 2014 is running about 3.3% behind last year however. (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 ] Visit StLouisMLS.com Find ALL Homes Open This Weekend Continue Reading → One of the most frequent questions I have been asked over the years by home buyers is “Should I Buy A Home Directly From The Listing Agent?” While no answer is correct for every situation, I would say that, in most cases, the answer to this question is “no”, you should not buy a home directly from the listing agent. You may be thinking though “won’t I get a better deal by cutting out the middle man?” In reality by going to the listing agent you are in fact NOT cutting out the “middle man” because in 99.99%* of the Continue Reading → The fastest selling neighborhoods in St Louis are found in St Louis county with the bulk of them in West St Louis County and the exceptions in Mid-County, according to the latest data available from MORE, REALTORS. As the table below shows, the fastest selling neighborhood in St Louis as of today is Rock Hill where homes on the market have been for sale an average of 41 days. (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 ] Search ALL Homes For Sale in St Louis Find ALL Homes For Sale That Continue Reading → |
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