MLS - St Louis Real Estate News

St Louis Pending Home Sales In September Increase From Last Year

By Dennis Norman, on October 27th, 2014

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.

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Should I Buy A Home Directly From The Listing Agent?

By Dennis Norman, on October 14th, 2014

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

By Dennis Norman, on October 13th, 2014

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.

Search ALL Homes For Sale in St Louis Find ALL Homes For Sale That Continue Reading →

Wells Fargo Agrees To $5 Million Settlement of Claim Of Discrimination of Pregnant Women & Women On Maternity Leave

By Dennis Norman, on October 9th, 2014

The U.S. Department of Housing and Urban Development (HUD) just announced that Wells Fargo Home Mortgage has agreed to a $5 Million settlement to resolve allegations that Wells Fargo discriminated against women who were pregnant, or had recently given birth, and were on maternity leave. (Click HERE for settlement agreement)

There have been a total of 190 maternity leave discrimination complaints filed with HUD against lenders in the past 4 years and those complaints have resulted in 40 settlements for a total of $1.5 million, prior to today’s settlement with Wells Fargo.

(We work hard on this and sure Continue Reading →

Software Developer’s $4 Million St. Albans Estate On Market

By Dennis Norman, on September 23rd, 2014

St Louis software developer and owner of Nu-Calgon, Brian Butler and his wife Kelly have listed for sale their 11,000+ square foot English Country Home which sits on over 6 acres in St Albans and overlooks the Missouri River for a price of $4,400,000. The home, located at 508 Heron Court in the Bluffs at St. Abans was built in 1999 and was listed for sale for $3,975,000 on 4 previous occasions in 2012 and 2013 but did not sell. Continue Reading →

City of St Louis Tops List of Places with Man-Made Environmental Hazards

By Dennis Norman, on September 23rd, 2014

The City of St Louis was at the top of a list that you don’t really want to be on, the “Top 50 Counties with the Highest Prevalence of Man-Made Environmental Hazards“, just released this morning by RealtyTrac. The city of St Louis scored a 87.2, more than triple the score of Philadelphia (27.8) which occupies the number 2 spot on the list.

In scoring locations for this list, RealtyTrac only looked at counties with a population of 100,000 or more and then ranked them based upon the % of bad air quality days, the number of Superfund sites Continue Reading →

St Louis Foreclosures Rise Slightly In August; Up over 100 Percent In Outlying Areas

By Dennis Norman, on September 11th, 2014

For the first time in a long time, there was an increase in St Louis Foreclosures with 497 foreclosure actions in August, equivalent to 1 foreclosure action for every 2,511 housing units, an increase of 2.47 percent from the month before. While up from the month before, St Louis Foreclosures in August 2014 were down 58.41% from August 2013. As the table below shows, St Charles County had a big decline in foreclosure activity in August and the city of St Louis a modest decline, but Jefferson County and Franklin County both saw increases in foreclosures over over 100% from Continue Reading →

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 Continue Reading →

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 Continue Reading →

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 Continue Reading →

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 Continue Reading →

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 Continue Reading →

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 Continue Reading →

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 Continue Reading →

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 Continue Reading →

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 Continue Reading →

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. Continue Reading →

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. Continue Reading →

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+

Piqued your Continue Reading →

Nine Credit Score Myths

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

Tyler Frank,Paramount MortgageNMLS 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 Continue Reading →

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

Piqued your interest? If you would like more information on Continue Reading →

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+

Piqued your Continue Reading →

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 Continue Reading →

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 Continue Reading →

Former Plaza Motors CEO John Capps Puts Manse On Market

By Dennis Norman, on March 19th, 2014

July 18, 2014 Update -After 4 months on the market and no sale, the price on the Capps’ home was reduced today by $355,000 to $5.295 million.

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 Continue Reading →

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.

Piqued your interest? If you would like more information on any of these homes or for a private viewing, click here.

Continue Reading →

St Louis Foreclosures For Sale – Slideshow

By Dennis Norman, on January 13th, 2014

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 Continue Reading →

Important Changes to FHA Home Loans Now In Effect

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

Tyler Frank,Paramount MortgageNMLS 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 Continue Reading →

What is QM?

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

Tyler Frank,Paramount MortgageNMLS 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 Continue Reading →