MLS « St Louis Real Estate News

A Look At The Ferguson Real Estate Market

By Dennis Norman, on September 10th, 2014

One month ago yesterday, officer Darren Wilson shot Michael Brown and suddenly Ferguson, the little city where I grew up and began my career in real estate in 1979, became the focus of national news and headlines for days and weeks ahead. Unfortunately, the coverage of the shooting has cast Ferguson in a very negative light and no doubt will hurt the progress the city has made over the past several years to revitalize its city and make it an attractive place to live, work and start a business. This website is about real estate, so while I think this is a tragic event and have prayed for the Michael Brown family, Darren Wilson and his family as well as the community as a whole, and continue to pray that all the facts are revealed so justice will prevail, the focus of this article is the Ferguson real estate market and the impact this has had, and will have, on it.

Ferguson Home Prices Have Been Recovering From The Trough…

(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 Ferguson Homes For Sale

Continue reading “A Look At The Ferguson Real Estate Market“

Almost Two-Thirds Of St Louis Foreclosures Sold Were Cash Sales

By Dennis Norman, on September 9th, 2014

The number of St Louis Foreclosures (bank and government owned) continues to decline resulting in just 335 St Louis Foreclosures being sold during the month of August 2014 in the St Louis Core market, a decline of 44% from August 2013 when there were 598 St Louis Foreclosures sold. What hasn’t changed though is the fact that nearly two-thirds (62%) of the foreclosures sold were cash sales for both periods. For the St Louis real estate market as a whole, cash sales made up for fewer of the home sales in August 2014 with just 22% of all homes being sold on a cash sale, down from 26% a year ago.

Search StLouisMLS.com

Find all the Open Houses for this weekend HERE

St Louis Real Estate Cash Sales August 2014 -

St Louis’ Top Ten Buyer’s Markets

By Dennis Norman, on September 5th, 2014

In spite of improvements in the St Louis real estate market and many areas becoming Seller’s markets due to low inventory and high demand, there are sill neighborhoods in St Louis where the market favors buyers. The top ten buyer’s markets in St Louis, listed in the table below, are in a variety of locations with two areas within the city of St Louis, and the rest in Jefferson and Franklin county. Absent from the list are buyers markets in St Louis county and St Charles county.

Dr. Randall Sterkel’s French Country Manse in Ladue Hits Market For $5.75 Million

By Dennis Norman, on September 5th, 2014

Local pediatric physician, Dr. Randall Sterkel who, according to the Childrens Hospital website, is “consistently recognized in “The Best Doctors in America” list”, including the most recent list for 2013, just put his nearly 15,000 square foot (14,776) French Country Style home on the market with an asking price of $5.75 million. According to the St Louis County tax records, Dr. Sterkel’s home, located at 9746 Litzsinger in Ladue, sits on 3.11 acres, had a tax bill of $50,854 for 2013 and indicates the home was purchased by Randall and Stephanie Sterkel on June 7, 2002 from Dan and Doris Devereux for $4,700,000.

To see complete details as well as all photos for this home, click here.

Disclaimer: The information herein is believed to be accurate and timely, but no warranty whatsoever, whether expressed or implied, is given. Information from third parties is deemed reliable but not verified and should be independently verified. MORE, REALTORS does not display the entire IDX database of Mid America Regional Information Systems, Inc. (MARIS MLS) on this website.

Valley Park: The Hottest Market In St Louis?

By Dennis Norman, on September 3rd, 2014

I’ll be honest, there was a time, and perhaps not that long ago, when I wouldn’t have thought I would have used “Valley Park” and “Hottest Market in St Louis” in the same sentence but the day may have come! No, I have nothing against Valley Park, it’s just it has struggled in the past with perception issues but it appears it has overcome much of that and people today are seeing the value offered in this west county alternative to higher priced neighboring communities.

According to our Market Action Index (see below for the top 10 list) which looks at supply and demand of housing in a market and applies an index to it thereby identifying an area as a sellers market or a buyers market, Valley Park is the hottest sellers market in St Louis currently. As the charts below show, Valley Park home prices have risen over 10% in the past year and the inventory of homes for sale in Valley Park has dropped 29%.

Search ALL Valley Park Homes For Sale

Valley Park Homes for Sale (Slideshow)

Continue reading “Valley Park: The Hottest Market In St Louis?“

St Louis Foreclosure Activity Down Fifty-Nine Percent In Past Year

By Dennis Norman, on August 14th, 2014

St Louis foreclosure activity was on the decline again in July with a total of 485 foreclosure actions taking place in the St Louis MSA during the month which equates to foreclosure activity on 1 of every 2,573 housing units, according to data released this morning by RealtyTrac. This represents a decline in St Louis foreclosure activity of 19.57% from the month before and a decline of 59.0% from July 2013. As the table below shows, with the exception of Franklin County, all of the major Missouri counties of the St Louis MSA saw a decline in foreclosure activity from both the month before as well as a year ago.

Search St Louis Foreclosures For Sale

(see a slideshow of all foreclosures for sale below)

Continue reading “St Louis Foreclosure Activity Down Fifty-Nine Percent In Past Year“

Villa’s Gaining In Popularity in St Louis

By Dennis Norman, on August 6th, 2014

Villa’s are becoming increasingly popular in St Louis evidenced by the increase in online searches by home buyers searching for a Villa. Let’s get to the question that may be going through your mind right now, what is a “Villa”, or more accurately, what type of housing in St Louis is the term “Villa” being applied to? The term “Villa” has to be one of the most misapplied terms used in the housing industry today as it’s origin goes back to Roman times when “Villa” referred a large country estate owned by a wealthy person. Today however, Villa refers more to a lifestyle than an architectural style.

What is the Villa lifestyle? Generally, when someone is looking for a Villa they have in mind something modest in size, often part of an attached home development, such as duplexes, town-houses and the like, and often gives a more care-free lifestyle as a result of lawn and landscaping maintenance, and perhaps exterior maintenance, being maintained by an association rather than the homeowner. But wait, that’s a condo, right? Well, it could be a condo but the term “condominium” refers to a type of legal ownership or title and not to an architectural style. Villa’s may be fee-simple in ownership (like a single family home where you owned a definite, and definable, chunk of dirt as well as everything on it, or it could be a condominium, where you own a percentage of the whole. The latter is probably the most common form of ownership for a villa.

In either event, a Villa offers the carefree and less hassle lifestyle many homeowners today, especially aging baby boomers that are becoming empty-nesters, are attracted to. The slide show below shows all the St Louis Villas currently available.

See ALL St Louis Villas For Sale HERE

Will Paying A Higher Commission Rate Get Your Home Sold Faster?

By Dennis Norman, on July 23rd, 2014

During the 30+ years I have been in the real estate business I have debated this topic with my peers more times than I can possibly count and, it’s safe to say, rarely did we reach a consensus. The topic of commissions is a very sensitive one in this industry and there are strong opinions on both sides of the fence as to whether offering a higher commission rate to the selling agent will in fact get a home sold faster.

Before I go further I should pause and give some quick background info on real estate commissions and how they work since that is a mystery to many consumers. There is no one business model out there that everyone follows however, in general, here is the way it works: A homeowner lists their home for sale with a listing agent and, as part of the listing agreement, agrees to pay a commission to get their home sold. The commission is normally a percentage of the final sales price, generally in the ball park of 5% – 7%. The listing agent then makes an offer of compensation, through the REALTOR® MLS, to other agents for selling the listing. While the listing agent is free to offer whatever they want to the selling agent, it is common for the selling agent (agent representing buyer) to receive 45% of the total commission so, anywhere from 2.25% to 3.15%, leaving the balance for the listing agent. The most common commission rate offered to the selling agent, by far, is 2.7%.

Now, for the debate….Will a higher commission rate get your home sold faster?

Find the value of any home in the U.S. online in under a minute!

The Importance Of Pricing Your Home Right From The Start

By Dennis Norman, on July 21st, 2014

While the St Louis real estate market is recovering from the aftermath of the housing bubble hurst, the market is still very price sensitive and therefore I cannot over emphasize the importance of pricing your home right from the outset at the beginning of the listing.

However, many sellers fear this strategy as they think no matter what price they list at the buyer will still offer less than the asking price. I will address this issue by saying that is simply not true. Buyers today, in my humble opinion, are more educated and savvy than homes buyers were during the boom (not to mention cautious) and are looking for a home that meets their needs and will be a good investment. Home buyers today realize that the good ones are selling quickly, so when a home comes on the market, is properly prepared for the market and priced correctly, it often sells quickly at full price or above and if not, then very close to full price. The over priced homes sit on the market, become market worn and stale by the time the seller finally gets the price down to where it should have been to start.

Oh, you don’t believe me and want proof? No problem! Below are statistics from MARIS, the St Louis REALTOR® MLS showing homes that sold within the first week of being listed in St Louis and St Charles County in the past 30 days sold for, on average, 100% of the list price!

Find the value of any home in the U.S. online in under a minute!

St Louis’ Most Expensive Foreclosures – Slide Show

By Dennis Norman, on July 7th, 2014

St Louis’ Most Expensive Foreclosures currently for sale includes homes in St Louis, St Charles and Franklin counties and top out at $1,700,000 at the time of this article. While buying a foreclosure does generally involve more risk than buying a privately owned home that is being sold under “non-distress” conditions, the added risk is usually rewarded in a much better price and therefore a better deal. The main risks with buying a foreclosure have to do with the condition of the property both in that the property is normally being sold as is, there is not a sellers disclosure available from the former owner and, if the former owner had financial trouble it is safe to say that some maintenance and repairs needed may have been foregone.

St. Louis Most Expensive Foreclosures For Sale – $300,000+

See ALL Foreclosures for sale in St Louis

Get More Information on St Louis Foreclosures

[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 ] Continue reading “St Louis’ Most Expensive Foreclosures – Slide Show“

St Louis Lofts Making Comeback

By Dennis Norman, on June 24th, 2014

St Louis Lofts are making a comeback both in popularity and price, according to the latest data available from Mid America Regional Information Systems (MARIS), the St Louis REALTOR® MLS. As the charts below show, loft sales in St Louis peaked in 2006 (when all real estate peaked) with sales of lofts hitting 218 for the year and the median price of lofts sold that year coming in at a record $215,700. After 2006 however, sales fell year after year finally hitting a low in 2010 when only 67 lofts were sold, a decline of almost 70% from the peak. Loft prices in St Louis did not hit bottom until the following year however, 2011, when the median price of a loft sold in St Louis was $152,500, a decline of almost 30% from the peak in 2006.

The comeback began last year, with St Louis loft sales hitting 1o7 in 2013, a six-year high, and the median price climbing to $173,500, a three-year high. Thus far, it appears as though this trend will continue through 2014 with loft sales, as the one-year chart below shows so well, shooting up in May with 18 lofts sold, the most in one month in nearly 3 years (since June 2011) at a median price of $186,250, a recovery of over half the decline in loft prices from the peak in 2006. Year to date, through May 2014, there have been 50 lofts sold in St Louis, an increase of 25% from the same period last year when 40 lofts were sold, and median loft prices increased 6.7% during the same period, rising from $174,500 in May 2013, to $186,250 in May 2014.

St Louis Lofts For Sale

See ALL St Louis Lofts for sale

Sunset Hills Most Expensive Homes for Sale (Slideshow)

By Dennis Norman, on June 23rd, 2014

Sunset Hills is certainly gaining in popularity as more people discover just how convenient the location is to many areas of St. Louis. Sunset Hills has easy access to both Interstate 270 as well as Interstate 44 making almost any St Louis destination a short trip. We opened an office in Sunset Hills last year that I have been working out of a lot, and since working from there I have myself discover the convenience of being located at 270 and 44.

Sunset Hills real estate consists of a variety of architectural styles and settings with something for almost everyone. The median home price in Sunset Hills is $357,600 and almost half of the homes there (40%) are free and clear of debt.

Sunset Hills Homes For Sale – $500,000+

See ALL Homes for sale in Sunset Hills

UMSL Biz College Dean Hoffman Puts Lake Manse on Market For $5.895 Million

By Dennis Norman, on June 11th, 2014

Charles Hoffman, dean of the College of Business Administration at the University of Missouri in St Louis has listed his 11,000+ square foot home that sits on 1.5 acres in Sunrise Beach at Lake of the Ozarks for sale for $5,895,000. According to the listing agents description, this is the “Deal of the Century”. Mr. Hoffman, prior to becoming Dean at UMSL, was, according to Wikipedia, President and CEO of Covad Communication Group and is known as a turnaround artist for struggling companies.

Lake of the Ozarks (Camden County) Luxury Homes For Sale – $5,000,000+

Nine Credit Score Myths

By Tyler Frank NMLS # 942420, on June 6th, 2014

Tyler Frank,
Paramount Mortgage
NMLS ID 942420

We hear lots of advice these days about how to improve a credit score. However, not all advice is good advice. Here are nine credit score myths that could actually do more harm than good:

Myth #1 – Closing out old, inactive accounts will help your score.
Thirty percent of your credit score is based on your utilization rate – your total balances versus the total amount of credit available to you. Canceling old accounts reduces the total amount of your available credit, changing that ratio. Any balance will utilize a higher percentage of your credit, which will hurt your score.

Myth #2 – Opening (but not using) accounts will help your score.
To improve their utilization rate and, theoretically, their credit scores, some people open as many accounts as they can. According to Rod Griffin, director of public education for the credit bureau Experian, “Your score is affected by how well you manage the credit you do have over a period of time, not by how many credit cards you have or the available balances.”

(We work hard on this and sure would appreciate a “Like”) Continue reading “Nine Credit Score Myths“

St Louis Hills Most Expensive Homes for Sale – Slide Show

By Dennis Norman, on June 4th, 2014

St Louis Hills is arguably one of the most popular neighborhoods in South St Louis and is rich in history. According to the St Louis Hills Neighborhood association website, St Louis hills encompasses an area of 700 acres and was originally developed by Cyrus Crane Willmore. The street names in St Louis Hills, as well as much of the architecture of the older homes, reflects Willmore’s English heritage.

St. Louis Hills Homes For Sale – $300,000+

See ALL Homes for sale in St Louis Hills

Retired Rams QB Marc Bulger Puts House On Market For $7.5 Million

By Dennis Norman, on May 30th, 2014

Retired Rams quarter back Marc Bulger has listed his 11,587 square foot house that sits on over 6.5 acres at 2701 South Lindbergh in Huntleigh for sale for a cool $7,499,000. Mr. Bulger acquired the home for $3,550,000 in 2007 from it’s former owner, Marilyn Schnuck.

Known as the “Percy Orthwein House”, Mr Bulger’s house was designed by famed architects Maritz and Young. You can see this home, as well as other St Louis area homes on the market for $7,000,000+ in the slide show below.

St. Louis Luxury Homes For Sale – $7,000,000+

Retired Cardinal Pitching Legend Chris Carpenter’s Ladue Manse Is Up For Sale

By Dennis Norman, on May 6th, 2014

UPDATE 10/10/14 -You missed out, it’s sold! The sale of Chris Carpenter’s house closed today for the price of $3,000,000.

UPDATE 7/02/14 -If price was holding you back from buying Chris Carpenter’s house, maybe this will help…today he lowered the asking price to $3,500,000!

Click on the photo to view all photos and details.

Cardinal pitching legend Chris Carpenter has listed his 8,000+ square foot home on a acre lot in Ladue for sale at $3,650,000. The home, at 809 South Warson, sits at the end of a secluded private drive of only 3 homes and boasts some outstanding features including, according to the listing, a “resort inspired pool” and, of course, a full gym. You can see his home, as well as other $3,000,000+ homes for sale, in the slide show below. Carpenter, who pitched nine seasons with the Cardinals, won a Cy Young award, was elected to 3 All Star Games and was part of two World Series Championships.

St. Louis Luxury Homes For Sale – $3,000,000+

Where Are St Louis’ Fastest-Selling Neighborhoods?

By Dennis Norman, on March 21st, 2014

St Louis’ fastest-selling neighborhoods today can be found throughout the St Louis area, however, as the list of the 15 fastest selling neighborhoods below shows, the lions share are found within St Louis County. Ten of the neighborhoods are within St Louis County and then primarily mid-county and west county, then 3 can be found in St Charles county and then finally 1 in Franklin county and 1 in the city of St. Louis.

Beneath the list you will find a slideshow of the homes currently available in St Louis’ Fastest-Selling Neighborhoods. Better move quick, before they’re all gone1

Former Plaza Motors CEO John Capps Puts Manse On Market

By Dennis Norman, on March 19th, 2014

Yesterday, the home of the former Plaza Motors CEO, John Capps, and his wife Deborah, hit the market with a $5.65 million price tag. The home, at 12 Huntleigh Woods, in the exclusive Huntleigh community, was built in 2005, has almost 10,000 square feet of living area and sits on over 2 acres according to the information available. Homes in this price range are not common in St Louis, in fact, at the present time, this is just one of 5 luxury homes in St Louis with a price tag north of $5,000,000. Check out the slide show below to see them all.

St. Louis Luxury Homes For Sale – $5,000,000+

Million-Dollar Plus Homes For Sale In Clayton-Slideshow

By Dennis Norman, on February 17th, 2014

Homes for sale in Clayton easily top the $1 million mark and in fact it’s not uncommon to find homes in the $2 million+ range with a few $3 million and $4 million thrown in to boot. The city of Clayton is the, self-described, “chic suburban community with urban flair” and serves as the county seat for St Louis county.

The slideshow below shows the current million-dollar plus homes for sale in Clayton.

St Louis Foreclosures For Sale – Slideshow

By Dennis Norman, on January 13th, 2014

St Louis Association of REALTORS - Realtor of the year Dennis Norman St Louis foreclosures are on the decline, however there are still some “deals” out there for buyers on homes that were previously foreclosed upon. Presently, there are 714 bank-owned or government owned homes in the St Louis 5-county core area (city of St Louis and the counties of St Louis, St Charles, Jefferson and Franklin) listed for sale in the St. Louis area MLS. St Louis foreclosures typically sell at a discount of 25% – 40% off retail, and sometimes even more, however you can bank on the fact that the better the price is the more work the home is going to need though. For the right buyer though, foreclosures can be a great opportunity to buy a home with instant equity!

In the slideshow below, you can see the wide variety of homes, and prices, of bank and government owned homes for sale in the St Louis area.

For Advice on How to Buy St Louis Foreclosures From An Investor that has bought and sold over 2,000 St Louis homes click here.

Important Changes to FHA Home Loans Now In Effect

By Tyler Frank NMLS # 942420, on January 3rd, 2014

Tyler Frank,
Paramount Mortgage
NMLS ID 942420

The Federal Housing Authority (FHA) has made some changes for 2014, which took effect January 1 and affect FHA home loans. First and foremost, you will see a drop in the maximum allowable loan. In the St. Louis metro area, for example, the new max loan amount for a single-family home has been lowered to $271,050 from $281,250.

Other items of note regarding FHA have not changed; so as a refresher let’s look at FHA qualifications and rules:

Borrower must put 3.5% down based on sales price. 100% of the buyer’s contribution can be in the form of a gift. There are no reserve requirements; however, reserves can help to build a stronger case for a “tight” loan.
The seller can contribute 6% of the sales price towards closing cost, points and pre-paid items.
There is an up-front mortgage insurance premium (UFMIP) of 1.75% for all loan terms and amounts added to the base loan amount.

Some underwriting items include: Continue reading “Important Changes to FHA Home Loans Now In Effect“

What is QM?

By Tyler Frank NMLS # 942420, on December 13th, 2013

Tyler Frank,
Paramount Mortgage
NMLS ID 942420

On January 10, 2014 the mortgage world is going to go through some changes. These changes will affect consumers and their ability to qualify for a home loan. Is it doom and gloom? Not really.

A “Qualified Mortgage” or QM, is something we at Paramount Mortgage have been doing for a while. It is all about the consumer having the ability to repay the loan and verifying, to the best of our ability, through paperwork, all the facets of a loan approval. It is very possible additional paperwork may be requested from the borrower to accomplish verification going forward. Is it the end of the world? No. We as a team, agent and loan officer, need to relay that information to the client.

We, for the most part, have already been doing that.

The biggest change will be the stringent enforcement of the debt-to-income ratio at 43%. This will be Continue reading “What is QM?“

St Charles County Most Expensive Homes For Sale

By Dennis Norman, on December 9th, 2013

St Louis Association of REALTORS - Realtor of the year Dennis Norman In the thirty year period from 1980 to 2010 the number of housing units in St Charles county tripled from 49,523 units to 141,016 units. St Charles’ growth has been fueled in part by an abundance of affordable new homes but that doesn’t mean St Charles county doesn’t have it’s share of luxury homes though! According to the latest housing data from the US Census Bureau, about 3 percent of the housing units in St Charles, or about 3,300 units, are valued at $500,000 or above.

Below is a slide show revealing St Charles County Most Expensive Homes For Sale:

Continue reading “St Charles County Most Expensive Homes For Sale“

St Charles County Most Expensive Homes For Sale – Slideshow

By Dennis Norman, on November 22nd, 2013

St Louis Association of REALTORS - Realtor of the year Dennis Norman St Charles county’s most expensive homes for sale can be found from Augusta in the southern part of the county to Wentzville in the north, from Foristell to the city of St Charles and come in all shapes and sizes. The live, real-time, slide show below shows the variety of million dollar plus homes currently for sale in St Charles county.

Continue reading “St Charles County Most Expensive Homes For Sale – Slideshow“

St Louis’ Cheapest Homes (Slideshow)

By Dennis Norman, on October 30th, 2013

St Louis Association of REALTORS - Realtor of the year Dennis Norman Since I occasionally publish a slideshow of St Louis’s most expensive homes for sale, it only seemed fair to do a slideshow of St Louis’ cheapest homes for sale as well. Would you believe that, at the time of publication, there are actually two homes for sale for the price of $1.00? That’s right, one buck! Granted, they don’t look like much (actually they look like you should be paid to take it) but what do you expect for $1.00?

So, here goes:
Continue reading “St Louis’ Cheapest Homes (Slideshow)“

St Louis Most Expensive Homes For Sale

By Dennis Norman, on October 11th, 2013

St Louis Association of REALTORS - Realtor of the year Dennis Norman St Louis is a pretty modest place as a whole and is very affordable when it comes to housing costs. This doesn’t mean that you can’t find a multi-million dollar estate if you are in the market for one.

The proof is in the slideshow below…the most expensive homes currently on the market in the St Louis area: Continue reading “St Louis Most Expensive Homes For Sale“

Get The “Fax” Before You Buy A Home

By Dennis Norman, on July 3rd, 2013

Yes, I know how to spell “facts” and am aware that “fax” machines have went the way of the dinosaurs and therefore would never advise someone to get one, so what exactly am I talking about in my post title? Actually, my recent discovery of a company that was launched in 2012 called Housefax prompted me to do this post, hence “fax”, however, I also mean to suggest that you should get all the “facts” you can (about the house and market) before you buy a home.

First, about Housefax. The company was launched last year and it’s top execs include guys that have extensive experience in the insurance and real estate industry including the former CEO for REALTOR.com, Allan Dalton. It’s purpose, according to it’s website, is to “to serve the growing consumer need for buyer-beware information before they purchase a home.”

Get the “Market Facts” for St Louis

Continue reading “Get The “Fax” Before You Buy A Home“

St Louis Mortgage Companies Seeing Fixed Rate Jumbo Mortgages Make Comeback

By Tyler Frank NMLS # 942420, on June 14th, 2013

Tyler Frank,
Paramount Mortgage
NMLS ID 942420

St Louis Mortgage companies were not making many 30-year, fixed-rate jumbo mortgages a year ago, but now many St Louis Mortgage companies are offering fixed jumbos – with very competitive rates, including my firm, Paramount Mortgage.

As interest rates start to rise, homeowners are thinking they may not see rates this low in the future and if their ARM is maturing a couple of years from now, they could be in a tough spot.

Continue reading “St Louis Mortgage Companies Seeing Fixed Rate Jumbo Mortgages Make Comeback“

How Long Do You Have To Wait To Get A Home Loan After Foreclosure, Short Sale or Bankruptcy?

By Tyler Frank NMLS # 942420, on May 18th, 2013

Tyler Frank,
Paramount Mortgage
NMLS ID 942420

Since the real estate market crash, millions of homeowners have lost their homes in a foreclosure, been forced to do a short sale to get out from a home they were underwater on or file bankruptcy as a result of financial hardship as a result of the the market crash and general economic downturn. Many of these homeowners have resorted to renting or living with relatives but, as time passes and the financial wounds heal, are now wanting to buy a home again prompting the question, “how long do I have to wait after a foreclosure, short-sale, deed-in-lieu or bankruptcy before I can get a home loan again?”.

Fortunately, it is possible for former homeowners who have faced financial hardships to obtain a home loan again, but it does take time and effort on their part. Before obtaining a home loan after a foreclosure, short-sale or bankruptcy, the borrower will have to reestablish credit and establish a stable income that will support the home loan they wish to obtain. In addition, time will have to pass as (see the chart below), no matter how well the borrowers situation has improved, there are still some minimum timeframes that will have had to pass in order to be eligible for most types of home loans. There is no “one size fits all” answer though, so I highly suggest if you are in this situation and want to know what your options are, to use the form below to contact me, I’ll be happy to help. Continue reading “How Long Do You Have To Wait To Get A Home Loan After Foreclosure, Short Sale or Bankruptcy?“

St Louis Real Estate Search® St Louis Home Values

St. Louis Real Estate News Contact Us

Copyright © 2024 Missouri Online Real Estate, Inc. - All Rights Reserved
St Louis Real Estate News is a Trademark of Missouri Online Real Estate, Inc.

Missouri Online Real Estate, Inc. 3636 South Geyer Road - Suite 100, St Louis, MO 63127 314-414-6000 - Licensed Real Estate Broker in Missouri

The owner and authors this site are providing the information on this web site for general informational purposes only and make no representations, warranties (expressed or implied) or guarantees of any kind whatsoever, as to the accuracy or completeness of any information on this site or of any information found by following any link on this site. Furthermore, the owner and authors of this site will not be liable in any manner whatsoever for any errors or omissions in information on this site, nor for the availability of this information. Additionally the owner and authors of this site will not be liable for for any losses, injuries or damages in any way from the display or use of this information or as the result of following external links displayed on this site, or by responding to advertisements displayed, or contained, on this site In using this site, users acknowledge and agree that the information on this site does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this web site is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer.
All of the information on this site is provided as is, with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
This site contains external links to other sites not owned or controlled by the owner of this site, therefore the owner of this site does not control or guarantee in any manner the accuracy or relevancy of any information obtained through following such links. Links contained on this site are for users convenience and users should exercise extreme caution when following links. Including a link on this site does not constitute an endorsement of the site linked to or any views or opinions expressed on the site, products or services offered on outside sites or the companies or organizations that own and operate outside sites.
This site may accept payment for advertising, for displaying advertisements, through affiliate relationships with companies or may receive referral fees or commissions from companies as a result of recommending or referring people to a website. This site may also accept free product samples, free services, gift cards or cash to review a product or service. All paid and sponsored content may not always be identified as such. Any product claim, quote or other representation about a product or service should be verified with the manufacturer or provider.

To see complete details as well as all photos for this home, click here.

Valley Park Homes for Sale (Slideshow)

St. Louis Most Expensive Foreclosures For Sale – $300,000+

St Louis Lofts For Sale

Sunset Hills Homes For Sale – $500,000+

Lake of the Ozarks (Camden County) Luxury Homes For Sale – $5,000,000+

St. Louis Hills Homes For Sale – $300,000+

St. Louis Luxury Homes For Sale – $7,000,000+

St. Louis Luxury Homes For Sale – $3,000,000+

St. Louis Luxury Homes For Sale – $5,000,000+

St Louis Real Estate Search® (official site)

Recent Articles

Tags

Don’t miss these posts!