By Dennis Norman, on November 24th, 2025 
If you’re a landlord renting out a condo in Missouri, you need to understand a key risk that can cost you, even if your mortgage is current. Missouri Statute 448.3-116 gives the condo association an automatic lien for unpaid assessments or fines. This lien attaches from the moment the debt becomes due and can be foreclosed like a mortgage. And yes, this applies even when the tenant is the one supposed to be paying the fees.
The statute goes further. If the unit owner is more than 60 days delinquent on assessments, the association has the right to demand that Continue Reading →
By Michael Abernathy, on August 13th, 2025 
Buying a condo may seem straightforward, but the reality is that it comes with layers of complexity that most buyers—and frankly, many agents—don’t fully understand. Recently, I represented an investor client who was purchasing an off-market condo through a wholesaler. On the surface, it looked like a quick, easy, all-cash deal. But within days, it became clear that without an experienced condo buyer’s agent, this transaction could have ended in a $160,000 disaster.
From the beginning, I raised the question of the condo resale certificate—a critical document that Missouri law requires sellers to provide. This certificate includes essential information about Continue Reading →
By Dennis Norman, on April 28th, 2025 
In Missouri, it’s an eye-opener that companies managing homeowners associations (HOAs), condominium associations, and subdivisions are not required to hold any type of state license—not even a real estate broker’s license. Yet, just across the river in Illinois, community association managers must be licensed under their Community Association Manager Licensing and Disciplinary Act. This gap in regulation here in Missouri leaves condo owners and homeowners vulnerable, particularly when it comes to the management of large associations that handle millions of dollars in dues and are responsible for common ground and major infrastructure like private streets and utilities.
Think about it: Continue Reading →
By Dennis Norman, on September 3rd, 2024 
Buying a condominium in the St. Louis metro area offers a unique lifestyle, but it’s important to understand that the process, and ownership structure, is different from purchasing a single-family home. Condominiums come with their own set of challenges and risks, especially in today’s market. If you’re considering buying a condo, here’s what you need to know to protect yourself and make a sound investment.
Understanding the Challenges
Buying a home comes with its own set of challenges and risks, which is why most people choose to work with a buyer’s agent. It’s crucial to use an agent with the Continue Reading →
By Dennis Norman, on June 7th, 2024 
Brentwood Forest Condominiums, one of St. Louis’ largest condo communities, is currently grappling with significant structural repair issues that have cast a shadow over the market’s viability. Following the revelation of maintenance problems, the Federal Housing Administration (FHA) temporarily withdrew its loan approval for the development. This decision has significantly impacted both the homeowners and prospective buyers. In a recent article in the St. Louis Business Journal, it was stated that in response to this, the Brentwood Forest Condominium Association (BFCA) was “working diligently to address reported mortgage lending issues.”
The structural issues and subsequent lending restrictions have had a Continue Reading →
By Dennis Norman, on December 10th, 2020 As the STL Market ReportTM below shows, there were 3,419 existing condominiums sold in the 12-month period ended November 30, 2020, a decrease of 0.23% from the prior 12-month period. The median price of condos sold during the past 12-months was $159,900, an increase of 5.2% from the prior 12-month period. To make sure the data represents the market as accurately as possible, distressed home sales and new construction were excluded from the data. As the report shows, the current inventory of condos for sale is just 1.2 months.
STL Market Report – St Louis 5-County Area – Condos
Continue Reading →
By Dennis Norman, on February 6th, 2017 The condo market in the St Louis area is doing well with condo’s that sold in the past 12 months selling in a median time of just 27 days in the 5-County St Louis Core market. As the chart below shows, the median price for condo’s sold in the 5-county core market during this period went from $125,000 back in February 2016 to $139,500 in January 2017. There is currently a 3.3 month supply of condominiums for sale in the this market. Continue Reading →
By Dennis Norman, on July 31st, 2014 St Louis Condo sales have steadily grown over the past 3 years from 2,216 sales for the 12 month period ended June 30, 2011 to 3,141 sales for the 12 month period ended June 30, 2014, an increase of 41.8% in that 3 year period. I think this is the result of actually two things; one, the recovery of the St Louis housing market which we are in the midst of, as well as greater acceptance of condominiums for a residence by St Louisan’s.
During the same period, St Louis home sales, as the chart below illustrates, have increased as Continue Reading →
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