St. Louis Real Estate Voice

St. Louis Real Estate – Your Financial Goals!

What are you financial goals for the sale of your home?

Let’s face it, not everyone can sell and come out ahead in today’s housing market. It is important to know your financial boundaries before you dig too deep into the sales process. Your homework at this stage is to find out what you currently owe on your house, what the closing costs for selling your house would be, and what price you are honestly willing to accept for your house. Sharing these thoughts with your Realtor will help him understand your goals and how to go about the sale of your house in the St. Louis real estate market

Want help getting your home priced to sell? Now is the time to get ready for the spring market.
Call now, Doug Aegerter 314-640-1778 or Art Wagner 314-503-0335, for an appointment.

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Posted by Doug Aegerter | Read More | Your Comments Are Welcome! | 01.30.2010

St. Louis Real Estate – Is Time on My Side?

Filed under: For Sellers

How much time do I have to sell my house?

Timing can be everything with real estate. You need to know upfront how much time you have to sell your house. Are you strapped for time and need to sell it fast? If so, you’ll need to develop a strategy with your Realtor for a quick sale. If you can leave the house on the market until you receive the perfect offer, then you will need an all-together different strategy for catching that perfect buyer. Homes for sale in the St. Louis real estate market can sell in a day or a year.

How much time are you prepared to spend in order to meet your goals and sell your home?

Want help getting your home ready to sell? Now is the time to get ready for the spring market.
Call now, Doug Aegerter 314-640-1778 or Art Wagner 314-503-0335, for an appointment.

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Posted by Doug Aegerter | Read More | Your Comments Are Welcome! | 01.28.2010

Rockwood Summit School District Real Estate Snap Shot

Filed under: Fenton, For Buyers, For Sellers, St. Louis Market Reports

If you live in the Rockwood Summit School District, St. Louis County, Mo, you can track your home value for the 00 decade.

Use this report to compare your homes current value to an annual 4% growth.

Do you want more specific detail about your home, make an appointment right now with Doug Aegerter 314-640-1778 or Art Wagner 314-503-0335.

Posted by Doug Aegerter | Read More | Your Comments Are Welcome! | 01.28.2010

St. Louis Real Estate – Thinking about Selling?

Filed under: For Sellers

What is my goal in selling this house?

Selling your house in the St. Louis real estate market can be a stressful event if you are not fully prepared. Starting the process with a clear goal in mind will help eliminate a lot of the unnecessary confusion. You should ask yourself what you want to accomplish with the sale of your home. Is your goal to have a great selling experience that will allow you to move forward with your life? Or perhaps you are looking to sell so that you can purchase a larger home. Writing your primary goal down and sharing it with your Realtor gives you a reminder of why you are going through with the sale in the first place, and will also help your Realtor better understand your needs.

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Posted by Doug Aegerter | Read More | Your Comments Are Welcome! | 01.27.2010

St. Louis Real Estate-Market Watch January 17th, 2010

Filed under: St. Louis Market Reports

Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest Saint Louis , Sunset Hills, MO. January 17th, 2010
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 signs of upward movement as the holidays are past us, the cold weather is gone, for now. Active listings are up almost 200 from two weeks ago, as sellers are coming back on the market after the holidays.

Homebuyer activity is still strong, as many have their eye on the April 30 deadline to have an accepted contract, as that will allow them to qualify for the First Time Homebuyer tax credit or the move up buyer tax credit. With an accepted contract by April 30th, they will then have until June 30th to close.

Also, finally, the IRS has just released the new form that first time homebuyers will have to fill out in order to apply for the tax credit. The one challenge with this form is that when you attach it to your 2009 Federal Tax filing, you must file in paper form, ie…mail it in. E-filing will not be allowed, as the IRS is not set up as yet to accept attachments to their E-File tax return documents. Bummer!

Below is more GREAT NEWSbrought to us by one of our compadres, Jason Palliser at Prospect Mortgage. This article appeared on Jason’s web site and on the real estate investor web site, REI Blackbook.

If you haven’t heard as of yet, HUD has removed the 90 day seasoning rule for FHA purchases of foreclosed homes, investor owned homes, etc…for one year, beginning February 1st, 2010.

HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS
Measure to help bring stability to home values and accelerate sale of vacant properties

WASHINGTON – In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Program grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes.

“As a result of the tightened credit market, FHA-insured mortgage financing is often the only means of financing available to potential homebuyers,” said Donovan. “FHA has an unprecedented opportunity to fulfill its mission by helping many homebuyers find affordable housing while contributing to neighborhood stabilization.”

With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties.

“This change in policy is temporary and will have very strict conditions and guidelines to assure that predatory practices are not allowed,” Donovan said.

In today’s market, FHA research finds that acquiring, rehabilitating and the reselling these properties to prospective homeowners often takes less than 90 days. Prohibiting the use of FHA mortgage insurance for a subsequent resale within 90 days of acquisition adversely impacts the willingness of sellers to allow contracts from potential FHA buyers because they must consider holding costs and the risk of vandalism associated with allowing a property to sit vacant over a 90-day period of time.

The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.

“FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties,” said FHA Commissioner David H. Stevens. “This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity.”
The waiver will take effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner. To protect FHA borrowers against predatory practices of “flipping” where properties are quickly resold at inflated prices to unsuspecting borrowers, this waiver is limited to those sales meeting the following general conditions:

All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.

In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will only apply if the lender meets specific conditions.

The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.

Specific conditions and other details of this new temporary policy are in the text of the waiver, available on HUD’s website.

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

Posted by Art Wagner | Read More | Your Comments Are Welcome! | 01.18.2010

Lindbergh School District Real Estate Snap Shot

Filed under: Neighborhood Reviews, Real Estate News

The St. Louis Real Estate Voice is back with community snap shots. Track your home value for the 00 decade.

This time with a new twist thanks to broker/agent Klaus Bank from Keller Williams Realty St. Louis.

We will feature a new school district every week or two. They will be randomly selected. Go ahead and give me a call 314.640.1778, if you want to twist my arm to move your school district to the top of the list.

Lindbergh School District

Posted by Doug Aegerter | Read More | Your Comments Are Welcome! | 01.08.2010

St. Louis Real Estate-Market Watch January 2nd, 2010

Filed under: St. Louis Market Reports

Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest Saint Louis , Sunset Hills, MO. January 2nd, 2010
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 in our typical cold weather, winter mode. We are seeing less active listings, less homes accepting contracts, which has dropped the pending ratio somewhat to 11.9 percent.

Even though it’s bitter cold right now, we are still experiencing buyer activity, fueled by the extended tax credit and favorable interest rates. Homes in the First Time Homebuyer price ranges continue to get showings. Sellers in the market now should have an upper hand on those who are waiting, as buyers have less to choose from now, but are still making the decision to buy.

This cold weather serves as a reminder that this new year is still a great time to make sure your home is up to date regarding energy efficiency. You can still receive a tax credit for updating windows, doors, roofing, HVAC systems, and even alternative energy sources. Some improvements have a deduction up to 30% of their cost. You can find out more by clicking HERE.

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

Posted by Art Wagner | Read More | Your Comments Are Welcome! | 01.04.2010

St. Louis Real Estate-Market Watch December 20th, 2009

Filed under: Real Estate News, St. Louis Market Reports

Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest Saint Louis , Sunset Hills, Mo.
December 20th, 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 is preparing for Christmas with less active listings and less homes accepting contracts, dropping our pending ratio to just over 12 percent. Our homes sold in the last six months has tapered off a bit, but still remains over 200 more than last year at this time. Expired listings have increased a bit, as some homeowners will be staying off the market until after the holidays and after the first of the year.

Those homeowners staying off the market may wish they hadn’t, as there are still a good number of first time homebuyers in the market.

From our partners at Gorman and Gorman Home Loans comes this real estate news update:

Last week the Federal Reserve kept the Fed Funds Rate at the 0.0% to 0.25% range and reiterated that interest rates will remain low for an “extended period.” The Fed did say that economic activity picked up since the last meeting in November. The statement went on to say that deterioration in the labor markets is abating.

One very important note – the Fed took the time to reiterate that their Mortgage Backed Security purchase program will end on March 31, 2010 as previously stated. There had been some speculation that the program might continue beyond the March 31st date, but the inclusion of this reiteration in the Fed’s Policy Statement leads us to believe that the Fed is trying to make it clear that this program will terminate as scheduled. Source: CNN/Money

The inventory of completed but unsold new houses fell to 239,000 at the end of October, according to the National Association of Home Builders. That’s the fewest since May 1971, when the inventory stood at 236,000. The months’ supply — that is, the amount of time it would take to sell the current inventory at October’s sales rate — fell to 6.7 months, which the NAHB says is “respectable.” The historic high was set in January, when the supply topped out at 12.4 months. Meanwhile, the inventory of unsold existing houses fell in October to 3 million, and the month’s supply dipped to 6.8 months. The supply of resale houses hit its cyclical peak in June 2008, when it reached 11 months. Source: National Mortgage News

Note: Our Market Watch Report will not be published next weekend.

From all of us at The St. Louis Real Estate Voice to all of you;

Happy Holidays and a Prosperous New Year.

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.