Is it a good time to buy St. Louis Real Estate?

It’s always a great time to buy St. Louis Real Estate, especially now!

St. Louis is a very stable real estate marketplace!

The national media would lead you to believe that the sky is falling all around you, but if you examine the St. Louis Real Estate market, you’ll discover that median home prices in St. Louis County increased in value 4.61% over the last two years (Jan. 05 - Jan 07). Part of the 4.61% growth, about 1/2%, occurred last year, not the greatest, but considering the national outlook, not bad either!

Several factors are creating more competitive pricing;

1. Fewer buyers, because of tighter credit requirements
2. More narrow appraisal guidelines, comparative data is highly scrutinized.
3. Accurate and timely market analysis becoming even more important.
4. Fewer “quick flip” speculators
5. End of the gold rush, more homes are being priced at market value.

What we have left is a “NORMAL MARKET” and that’s great news.

So. . . if you’re a buyer waiting for the bottom to fall out of St. Louis real estate. . . you’re probably going to miss a great chance to buy your dream home.

And. . . if you’re a seller trying to “time the market”, sorry. . . it’s time to take a realistic look at your situation, consult a professional Realtor (us), develop a strong market plan and get to work.

Otherwise, buyers and sellers. . . you’re just rolling the dice!

This entry was posted on Sunday, April 15th, 2007 at 6:12 pm and is filed under First Time Home Buyer, For Buyers, For Sellers, Real Estate News, Relocation Buyer. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.