St. Louis Real Estate-Market Watch December 13th, 2009

Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest Saint Louis , Sunset Hills, Mo.
December 13th, 2009
The Anatomy of St. Louis Real Estate

The St. Louis Real Estate Market this week heads for the Holidays with activity slowing just a bit. Buyer activity is still very good, especially in the lower price ranges anywhere from $280,000 and down. Why $280,000, you ask?

In the St. Louis Metropolitan area, FHA lending limits for single family homes are $281,000, and with a great number of buyers choosing to use FHA lending, it stands to reason that these price ranges will have the most activity.

One item to note is that for the second week in a row, the “homes sold” in the past six months of 2009 have exceeded “homes sold” in the same time period of 2008 by 7.3 percent. It looks as though some of the home buyer assistance programs are working.

Buyers in all price ranges are understanding the value in the marketplace right now and moving forward instead of waiting. Buyers that are looking for “deals” and willing to do a little work to the home are also finding great bargains in foreclosures and short sales, thus keeping the buying activity moving along.

For would-be buyers that aren’t considering buying now due to lack of a down payment, credit issues or any other reason, we have discovered something that may be of help to you.

We recently, this week, got involved with a program which allows a buyer to purchase a home with 100 percent conventional financing, no down payment, no closing costs, don’t need perfect credit, and at below market rates.

WAIT…I know what you are thinking….sounds too good to be true, this is a scam, or it’s some “creative” financing arrangement. NOT SO.

The program is provided through the Neighborhood Assistance Corporation of America, NACA. It is real, and they have helped individuals throughout the country for the past 20 years become homeowners through common sense approach to lending and anti-predatory lending assistance.

Check them out at www.NACA.com. You will be amazed at how they can help.

WHO DO YOU KNOW NOW is facing challenges in our local St. Louis Real Estate Market?? We have unique solutions custom tailored for troubled homeowners, sellers and buyers. Contact us for more information.

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

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