2008 February | St Louis Real Estate Voice

Archive for February, 2008

St. Louis Real Estate-Market Watch February 1st, 2008

St. Louis Real Estate Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
February 1st, 2008
The Anatomy of St. Louis Real Estate

The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions and comments are welcome!

The St. Louis Real Estate Market marches forward through the snow this week with an increased number of homes accepting contracts (pendings) and the average pending ratio near 13%. In the price ranges between $125,000 and $200,000 the pending ratios are above 16%. Perhaps some of the market predictions are beginning to come true, as we are seeing our average sale prices inching upward a bit also.

The average list price to sales price percentages are also improving in some price ranges. In all price ranges, except for the $800,000 and above range, we see anywhere from 97.1% to 98.5% sales price to list price. Who says this is a lousy market?? Granted, the time it takes to sell a home is a bit longer than in previous years, but with buyers having many more avenues available to them to search for homes, and with a lot of inventory to look at, longer days on market should be anticipated and planned for.

With only six more weeks of winter left, according to Mr. Groundhog, now is a great time for sellers to get into the market. You will still get ahead of the major increase in inventory once spring is actually here. Buyers are still very active right now, especially with interest rates as low as they are.

Check out the current interest rates by reading Chris Scheer’s current article posted on our blog or go to Bankrate.com to check rates and get more information.

Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

St. Louis Real Estate St. Louis County Market Watch February 1st, 2008

St. Louis Real Estate Jefferson County Market Watch January 25th, 2008

St. Louis Real Estate St. Charles County Market Watch February 1st, 2008

St. Louis Real Estate Benchmark Report January 2008

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category.

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year.

The Market Analysis includes data on:

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)1
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM

Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!

The Benchmark Report is produced monthly for:

Single Family Residence
Ranch Style
1300 - 2000 sq.ft.
3 Bedrooms
1.5 Bathrooms

Art Wagner can be reached at art@stlouisrealestatevoice.com

Posted by Art Wagner | Read More | Your Comments Are Welcome! | 02.02.2008

St. Louis Real Estate - Building Inspection - BOBI

Filed under: Building Inspection News

Shingle Mold

BE OBSERVANT, BE INFORMED by Harry Morrell, ASHI Certified Inspector, Allied Building Inspections, St. Louis , MO

As a home inspector, I cannot stress enough to home buyers and sellers alike to be observant and be informed. I believe it is your duty as citizens of this great country we live in to make it your personal responsibility to be observant and informed, especially when making an investment of a lifetime. I’m referring to the house you will call home and the home you will raise your family in, AKA the American Dream. Your home inspector will be able to help you with all the structural and mechanical questions you may have and help you make the right decision before your purchase or sell.

As a home inspector one of the many questions and concerns I get from my clients has to do with the roof and roofing material. Everyone knows that your home is your shelter and its occupants want to be dry and protected from the weather. Most of all my clients take a look at the roof and roofing on their first showing. The best and only way to inspect a roof and roofing is by walking the planes of the roof and inspecting the decking from the attic. This is where your inspector takes center stage.

One of the many specific concerns I get from buyers and sellers alike are those ugly black streaks marring the roofing material. These streaks can give a black eye to an up-scale well maintained home that appears to be professionally maintained inside and outside. There is no doubt about these ugly black streaks, you can’t hide them and pretend they are not there; however not all the news is bad news. To most buyers and home owners alike these streaks are specifically UGLY. It’s algae build up, and makes roofs look dirty and neglected and maybe causing significant damage. However, unless you get deep, thick growths, usually moss in valleys and/or on the sloped roof surfaces that can impede the flow of rainwater and force water under shingles or behind flashings, the problem is cosmetic only.

Problems arise especially when home owners try to power wash these stains away. The worst case scenario is that you end up blowing your roof away. At the very least you can damage and loosen the aggregate on your shingles and cause a significant service life reduction. I would always recommend a professional to take care of this type problem, and always encourage owners or future owners to stay off the roof. Traversing a roof is one of the most dangerous things a home inspector does during an inspection.

Professionals use special roof and deck cleaners for this type job, and never use power washing equipment. There are even special metal strips that can be installed to prevent future stains from occurring. These strips are placed and installed near the peak of the roof. As the rain water washes over the strips, the oxides of the metal travels down the roof, inhibiting algae growth. In addition I would advise home owners and buyers alike to request shingles that contain magnesium and copper granules in the top coating, or the aggregate or grit as some people call it. This prevents the staining from taking place.

Your inspector will go over these conditions with you in detail and show you close up digital photos of the conditions at the time of inspection. Be sure and ask your inspector any additional questions and concerns you may have. And remember; keep yourself informed, so you will be able to make the responsible decisions for the purchase of your life.

Harry Morrell harrymorrell@stlouisrealestatevoice.com