St. Louis Real Estate-Market Watch April 12th, 2008

St. Louis Real Estate Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
April 12th, 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 this week is showing small increases in active listings and homes accepting contracts, thus pushing our average pending ratio over 15.5 percent.  The major segment of our market which falls in the $100,000 to $300,000 price ranges are exhibiting better than average pending ratios.  These price ranges make up 61.7 percent of the active listings this week which tells us that it IS a good time to be in the marketplace. 

 If you are a seller in these price ranges, check out the average list to sale price averages; we are still in a 1.5 percent to 4.5 percent market.  Buyers take note of this also, as this information could serve as a guide to you when making your offer on your new home. 

Go to Bankrate.com for an article by Steve McLinden entitled, “Is The Real Estate Market Timed for Buyers?”  The article provides some good insight and information whether you are a buyer or a seller.

For any of you that have adjustable rate mortgages and are being challenged by the “re-setting” of your mortgage, the Bush Administration has announced additional help for sub-prime borrowers.  HUD’s Federal Housing Administration is being given more flexibility in insuring more mortgages.  They are now able to help those sub-prime borrowers who have been late on two OR three consecutive payments or late two or three times in the past twelve months. 

Since September last year, FHA has helped nearly 150,000 borrowers and with this new expanded program, they estimate to help an additional 500,000 or so families.

HEY, WAIT A MINUTE– Isn’t this what they should have done from the beginning?? We think so. 

Read the complete article at RisMedia.com, entitled “Bush Administration to Expand Mortgage Help for Struggling Families.” 

 

 For some great information regarding the real estate market and a really cool home-value calculator, check out the report just released by the Office of Federal Housing Enterprise Oversight (OFHEO) at http://www.ofheo.gov/.

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 April 12th, 2008

St. Louis Real Estate Jefferson  County  Market Watch April 5th, 2008

St. Louis Real Estate St. Charles County Market Watch April 12th, 2008

St. Louis Real Estate Benchmark Report March 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

This entry was posted on Sunday, April 13th, 2008 at 9:40 am and is filed under St. Louis Market Reports. 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.

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