St Louis Area Vacant Property Rate and Zombie Foreclosure Rate On The Rise

By , on August 28th, 2020

Zombies are on the rise in St Louis! I’m referring, of course, to Zombie foreclosures and not the spooky creatures from scary movies. A zombie foreclosure is a property that is in “pre-foreclosure” meaning it is in the foreclosure process but has not been yet foreclosed upon and is vacant or abandoned by the current owner. We saw the levels of zombie foreclosures rise significantly after the housing bubble burst back in 2008 but then fall around 2012 as the market began its recovery. For the 3rd quarter of 2020, according to ATTOM Data Research, 10.8% of the homes in Continue Reading →

Nearly One In Five Properties In 63113 Are Vacant

By , on February 27th, 2020

Of the 4,531 residential properties located within the 63113 zip code in the City of St Louis, over 18 percent of them are vacant (824), according to a report just released today by Attom Data Solutions. As the table below shows, six of the ten zip codes in the St Louis MSA with the highest rate of vacant property are located within the City of St Louis and the remaining 4 in St Louis County.

Nine of the 10 zip codes with the highest rate of vacancy have double-digit vacancy rates. Franklin County has the most zip codes with no Continue Reading →

St Louis Homeowner Vacancy Rate Hits Highest Level Since 2016

By , on November 2nd, 2019

The St Louis MSA homeowner vacancy rate during the 3rd quarter of this year was 1.8%, an increase from 0.3% the prior quarter and the highest rate since the 4th quarter of 2016 when the rate was 3.0%, according to data recently released by the U.S. Census Bureau. The median vacancy rate for 2019 though, at 0.5%, is still at a record low.

The homeowner vacancy rate represents the percentage of total listings of homes for sale that are vacant.

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St Louis Homeowner Vacancy Rates – 2016 – Present

(click on table for complete data Continue Reading →

City of St Louis Property Vacancy Rate More Than Double The Rate For The St Louis MSA

By , on August 16th, 2019

There are 100,478 residential properties in the City of St Louis, 7,604 of which (7.6%), are vacant properties according to the vacancy rate report for the 3rd quarter of 2019 by ATTOM Data Research. The other St Louis area county with a vacancy rate higher than the rate for the St Louis MSA as a whole of 2.9% is St Louis County where 3.1% of the residential properties are vacant.

St Louis MSA Vacant Property And Investor Owned Property Q3 2019

Search St Louis Homes For Sale    Search St Louis Upcoming OPEN HOUSES Continue Reading →

Half Of The Residential Properties In Franklin County Are Investor-Owned

By , on August 15th, 2019

There are 64,645 residential properties in Franklin County, 32,625 of which (50.5%), are investment properties according to the vacancy rate report for the 3rd quarter of 2019 by ATTOM Data Research. The other St Louis area county with a percentage of investment properties higher than the rate for the St Louis MSA as a whole of 23.8% is the city of St Louis where 41.5% of the residential properties are investor-owned.

St Louis MSA Vacant Property And Investor Owned Property Q3 2019

Search St Louis Homes For Sale    Search St Louis Upcoming OPEN HOUSES Continue Reading →

City of St Louis Has Second Highest Vacant Property Rate In The U.S.

By , on October 27th, 2017

As of the end of September, in the city of St Louis, 7,265 of the 104,288 residential properties in the city were vacant, giving the city a vacant property rate of 6.97 percent, the 2nd highest of all the counties in the U.S., according to a newly released report by ATTOM Data Solutions. The number of vacant properties in the city of St Louis increased 4.4% from the same time last year. Baltimore Maryland had the highest vacant property rate at 8.14 percent.

As the table below shows, St Clair County, Illinois was the next St Louis area county on Continue Reading →

City of St Louis Property Vacancy Rate Over Four Times Higher Then National Rate

By , on February 11th, 2016

According to a report just released this morning by RealtyTrac, 6,809, of the 103,855 residential properties in the city of St Louis, are vacant. This vacant property rate of 6.6 percent for the City of St Louis is over four times higher than the national rate of 1.6 percent. Continue Reading →

Florissant City Council Passes Ordinance Increasing Landlord License Fees By Nearly 1500 Percent

By , on January 12th, 2016

Last night, the City Council for the City of Florissant passed bill number 9135 which, if approved by voters in April, will increase residential rental real estate license fees. In addition to increasing the rental real estate license fee from $15.00 to $50.00, this ordinance also changes the calculation of the fee from a “per owner” fee to a “per unit” fee. Continue Reading →

The Number of Zombies In St Louis Triples In Past Year

By , on October 9th, 2015

No, in spite of the fact this is October, this article is not about Halloween nor the zombies associated with it, instead, it’s about vacant homes that have delinquent mortgages but have not yet been foreclosed upon yet, which the industry has applied the term of “zombie” to. Continue Reading →

One in Five Housing Units in City of St Louis is Vacant

By , on December 10th, 2012

The city of St. Louis has experienced a decline in the number of residents since hitting it’s peak population back around 1950. The most recent disappointment came in the 2010 census results showing, in spite of optimism on the part of the city for better numbers, the population of the city of St Louis had declined by nearly another 1o percent during the decade, falling from 348,189 people in 2000 to 319,294 in 2010. During that same decade there were efforts to revitalize the city and bring new life to it as developers built new and fun living spaces by Continue Reading →

Missouri Supreme Court Upholds tax sale by City of St Louis

By , on March 1st, 2011

Not providing a current mailing address to the Assessors office can cost you your home

Mohammad Bhatti learned this the hard way. Bhatti, a resident of the City of St. Louis, purchased a property at 3243 Pennsylvania in 2005 to rehab and resell. From court records I reviewed it appears that the city had the property address as Mr. Bhatti’s mailing address rather than where he was actually living. This is something that would ultimately cost Mr. Bhatti to lose his property at 3243 Pennsylvania, which he claims to be worth $169,900, over $1,452.06 in delinquent property taxes.

Continue Reading →

St Louis Real Estate – City of St Louis Vacant Property Bill Update

By , on March 12th, 2010

Dennis Norman

Update: March 23, 2010: In spite of the concern of many organizations including the St. Louis Association of REALTORS, the Mortgage Bankers Association and the Title Insurance folks, the Board of Alderman passed the vacant property ordinance on March 12th – Now that lenders and title companies are aware of potential title and lien issues with this bill I have no doubt investors, and even homeowners, are going to run into some roadblocks when trying to finance property in the City of St. Louis – 2/3 of the Alderman voted in favor of the bill:

The Continue Reading →

St Louis Real Estate – Vacant Property Bill and It’s Affect on Property Rights

By , on February 26th, 2010

Dennis Norman

What do sex offenders and owners of vacant property have in common?

UPDATE: March 8, 2010 – I found out today the bill that was actually perfected last Friday was a floor substitute…Unfortunately the changes made to the bill were minor- they changed the public data base so that you have to enter a property address in order to look up the owners personal information (including phone number and email address) and they changed the wording to no longer make real estate agents and property managers responsible for property they don’t own. So basically, just a little Continue Reading →