Saint Louis Real Estate-Market Watch February 6th, 2010

Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest Saint Louis , Sunset Hills, MO. February 6th, 2010
The Anatomy of St. Louis Real Estate

The St. Louis Home for Sale Team provides a weekly St. Louis County and Monthly 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 continues to show good signs of activity, both on the buying side as well as the selling side. We see increases in active listings, homes accepting contracts and pending ratios in almost all price ranges. Our average pending ratio has increased by over 1% from last week.

Tax credits are certainly fueling buyers and sellers in the market right now. Another reason for this activity should be the pending FHA changes coming as we get closer to spring. Buyers should definitely try to get in front of those changes, as they will cost you more money, either up-front or monthly, depending on how the changes are structured.

At this point, we still have no concrete date as to when these changes will take place. As a refresher, these changes will probably involve Mortgage Insurance Premium increases, FICO credit score increases for qualifying for an FHA loan, and a decrease in allowable seller concessions to the buyer. We’ll try to keep you in the loop as to when these will be occurring.

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.

This entry was posted on Monday, February 8th, 2010 at 11:31 am and is filed under Real Estate News, 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.