St. Louis Market Watch-December 13th, 2008 | St Louis Real Estate Voice

St. Louis Real Estate-Market Watch December 13th, 2008

Saint Louis Real Estate Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
December 13th, 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 has our pending ratio ( homes accepting contracts) inching up slightly to 10.47 percent from last week’s 10.04 percent. When you look at the segment of the market that moves St. Louis Real Estate; price ranges from $100,000 to $249,999; the pending ratios are continuing well above the average pending ratio.

Buyer activity is remaining fairly stable this month, as seller activity continues to decline. It’s not unusual that these specific price ranges are doing well, as these are the ranges that fit into the FHA guidelines for financing. We believe, as others do, that FHA loan programs will be the engine to help bolster the St. Louis Housing market in the next 12-18 months.

On a National level, RealtyTrac, an online source for foreclosed properties and statistics recently reported that default notices, auction sales and bank repossessions fell 7 percent in November from the previous month. That’s a good sign, but as compared to November 2007 we are still up 28 percent. The top five states for foreclosures are still Florida, Nevada, Arizona, California and Michigan. Read the complete article at RisMedia.com

For homeowners looking for information and help with financial education as it relates to homeownership, The U.S. Department of Housing and Urban Development has recently launched a website to assist Americans. A unique feature on the website is a cool Self-Assessment Tool to help homeowners learn about personalized options for purchaseing and refinancing a home. The website can be found at www.HUD.gov and www.FHA.gov.

REAL ESTATE AGENTS AND FOR SALE BY OWNERS- Are your listings and / or home sitting on the market too long?? 120 days or more?? We have a program designed to get your listing or FSBO home sold. Real Estate Agents get paid their commission in full. Contact us for more info.

WHO DO YOU KNOW NOW that is challenged with their mortgage payments OR needs to sell for less than their home is worth?? WE CAN HELP!!

WHO DO YOU KNOW that’s thinking of buying or selling a home?

Contact Doug Aegerter or Art Wagner for more information and a FREE Comparative Market Analysis (CMA) of your home or your neighborhood.

Fill out the form below to view the Market Report.

This entry was posted on Sunday, December 14th, 2008 at 11:38 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.