St. Louis Real Estate-Market Watch January 10th, 2009

Saint Louis Real Estate Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
January 10th, 2009
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 slowed just a bit compared to last week’s activity. In spite of buyers, and sellers, still waiting we at least are seeing a few more listings coming onto the market.

These sellers are undoubltedly making the right move now, as our volume of listings increases greatly as we get closer to spring. Motivated buyers in the marketplace now don’t have as many homes to look at as they will closer to spring.

We believe that the two major incentives buyers have now is our historically low interest rates; hovering around 5.07%, at least as of this writing and the opportunity to take advantage of the first time home-buyer’s credit, which is still available.

First-Time Home-Buyers needing some greater detail and explaination of the $7500.00 tax credit can go to this LINK; Mary Umberger at RISMedia.com has posted a great article on the subject. This should help give buyers a good perspective on how the program works.

With winter upon us, this is a good time for all homeowners, property owners, and landlords to be checking their Homeowner’s Insurance. Check to make sure you are covered for any issues arising out of cold winter weather, such as frozen pipes, falling tree limbs due to ice, ice buildup on a roof which can cause moisture wicking under shingles and causing roofing problems, etc… Check out an article we found on RISMedia.com for more info.

The other insurance issue that we are making our sellers aware of is that most insurance companies need to be informed if your home is vacant past thirty days, as your insurance coverage may need to be adjusted. Some companies will deem your home as “non-owner occupied” if left vacant for more than 30 days. We mention this more and more, as sellers that have moved on to their new home and the home they are trying to sell is vacant. With Average Days on Market getting into triple digits, many homeowners may not be fully protected if an incident occurs at their vacant home.

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, January 11th, 2009 at 11:27 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.