Category Archives: benefits of home buying

Greetings Holiday Shoppers!

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holiday home buyer

Growing up, I watched the story about gifting real estate for Christmas several times per season.  Suprisingly, my first year in real estate, I was concerned that I’d only be able to help home buyer’s during the springtime.   The “seasonality myth” as it’s known in the industry, seems to be propagated by those that start to place focus on holiday parties, family, and worship.  I call that realtors hibernating.    While making this choice isn’t a bad thing for a person,  for a personal decision to affect such an important decision of others, like prospective home buyers, is unfortunate.  Ask any home buyer trying to buy in the springtime and being consistently out bid by $20,000+.   Ask the FHA home buyer that makes offer after offer, but is outbid not by price, but by folks putting more money down and using conventional financing.  Buyer’s need to know that lots of agents are eager to get out in December and January.

One home buyer couple I used to work for seemingly called me every time the weather was snowy and cold.   We’d look at house after house and be grateful we weren’t shopping when prices were higher and people were fighting us for the home, creating bidding wars.

The year 2017 has been a tremendous SELLER’s MARKET, but even in an overall market, there are mini shifts that buyer’s can take advantage of to get better pricing and availability.  So bottom line, if you want to buy…. get out there now and take advantage of the holiday home buying season!

 

St Louis real estate is our specialty! If you’re looking for real estate anywhere in the St Louis, MO area, including St Louis City, St Louis County, St Charles, Ballwin, Chesterfield, Sunset Hills, Kirkwood, Webster Groves, or one of the other areas we serve, simply click the “Search St Louis Real Estate” link at the top or bottom of this page to begin your home search now.

Great Reasons to Buy in the Fall Winter

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Home for Sale in St Louis

Our First Home

Last week this article in the Wall Street Joural really caught my attention. “10 Reasons to Buy a Home” was a pretty good response to Time Magazines yellow journalism in last months article decrying home ownership. The Wall Street Journal article points out they had a very different tone when home prices were peaking back in 2005-6. What comes to mind is Warren Buffet’s statement “Be fearful when others are greedy and be greedy when others are fearful.” When everyone was ridiculously excited about real estate, we now know that it wasn’t the best time to buy. Now that prices are low and interest rates are extremely low and other buyers are hestitant, its a GREAT TIME to BUY. History constantly shows that many people won’t be excited until prices start climbing again, and by that time, the deals won’t be nearly as good as now.

My thoughts go to my first home buying experience. Not that we did everything right, but our apartment lease was coming due in 6 months and I was itching to buy a house. My new bride and I were at odds about location, but we both liked Kirkwood and Webster Groves area. I wanted to buy in the City, she wasn’t familiar enough. We looked and looked. One day my mother called and told me that we should look in the subdivision just north of hers in the City of Manchester. There were was a place selling in our range, we called our Realtor to take a look.

The house was in dire shape, but it was winter, and there weren’t many other buyers in the market. It was an estate home (owned by heirs of the prior owner) and they were getting desperate. We got an analysis of the neighborhood sales from our agent and discussed strategies on how to make an offer. We end up getting the home for a great price and had many happy years there.

Ever since then, I’ve experienced some really great reasons to buy a home during the off peak months of fall and winter. A few are listed below:

1. Seller’s are at a psychological disadvantage. Many sellers are anxious about the lower amount of traffic from summer. Offers are taken more seriously as there is less certainty that another offer will come along.

2. Realtors have more time. When I work with buyers in the fall and winter, most realtors have more time to spend because they aren’t working with as many other clients.

3. Prices have dropped on many of the homes that were listed in the spring and summer, sellers are more motivated.

4. Homes don’t show as well in bad weather and less tidy landscaping, and it gives buyers more leverage.

5. Buyer’s are less likely to encounter “multiple offers” which tilts negotiations in the sellers favor.

6. The average days on market is usually longer (fewer seller’s try to sell in the fall / winter) so the homes that are on the market have been ‘sitting’.

7. Other services, like mortgage brokers, inspectors and title companies aren’t as busy and have more time to work with a buyer’ schedule.

Buyer’s can have great experiences in their efforts all year long. If getting the most for your money and being able to thoroughly explore areas with the full assistance of a Realtor is important to you, then fall / winter buying might be the best alternative for you. Happy Home buying!

St Louis real estate is our specialty! Visit us online at 4SaleStLouis.comIf you’re looking for real estate anywhere in the St Louis, MO area, including St Louis City, St Louis County, St Charles, Ballwin, Chesterfield, Kirkwood, Webster Groves, or one of the other areas we serve, simply click the “Search St Louis Real Estate” link at the top or bottom of this page to begin your home search

Still Some Free Money (for Some)

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home for sale in st louis moThe Missouri Housing Development Corporation (MHDC) has a tax credit that DIDN’T expire on April 30th and Funds are still plentiful! As reported in today’s Post Dispatch, the credit isn’t being used as much as expected. The credit is $1250 for the HOPE tax credit with an additional $500 for the HOPE Energy Credit, for a possible credit of $1750.

MHDC has been a source of assistance for home buyers for a long time (starting in about 1969). The type of assistance has varied. A few years back, they offered a program for first time home buyer downpayment assistance. This hears “HOPE Program” has taken the place of the down payment plans and has shifted the responsibility from the lenders directly to the home buyer or their accountants.

Information on the HOPE Program can be found online HERE. Anyone wanting to take advantage of this plan better hurry though. While it doesn’t expire on July 1st like the federal tax credit, this credit only applies for homes purchased before 8/31/ 2010 with the forms being due by September 30, 2010

Your First Reality Show!

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first time home buyer on tvLast week a production assistant with the show “My First Place” called to let us know that the show is recording episodes this summer and fall in ST LOUIS! She found us online and wanted us to pick out some of our buyer’s to apply for the show.

For some, buying their first home is an exciting but very personal event. For many, a little attention doesn’t hurt.

What they are looking for is an energetic person or couple buying their first place to work with the show to produce a mini-documentary about the buying process. Its a really cool show, although it really tends to oversimplify the process. Not that its bad. Condensing the home buying process to 30 minutes-less commercial break time-just isn’t realistic. Some first time buyer’s look for months, then take another few months to get throught he rest of the process. Making it into a TV show requires a lot of editing.

Either way, if you’re considering buying your first home in St Louis Missouri and would like to be on the HGTV show “My First Place”, contact us online and we’ll get you all the details.

The process of finding a home for the first time can be a variety of different experiences combined into one. Having a good Realtor in St Louis to guide you through the process is what the show wants to capture. The interesting thing I’ve noticed since I’ve been in the real estate business is that people love to tell the stories about their home buying process. The thought of having a TV show made about your home buying process seems like the PERFECT closing gift to have after the fact to show friends and family and make the process easier and more fun!

St Louis real estate is our specialty! If you’re looking for real estate anywhere in the St Louis, MO area, including St Louis City, St Louis County, St Charles, Ballwin, Chesterfield, Kirkwood, Webster Groves, or one of the other areas we serve, simply click the “Search St Louis Real Estate” link at the top or bottom of this page to begin your home search

Not Sure About Buying?

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st louis real estate
Many wonder why buy? I mean is it really worth it?? I can relate.

The first time we ventured to purchase we were terrified! What if we bought and couldn’t afford it or something broke….what would we do?? My thoughts were very emotional and not at all in the direction of investment.

Today my experiences tell me that the perks of buying far out weigh any hesitation I once had. I developed a top 6 list of why to not just buy in St. Louis, but also RIGHT NOW in this Buyer’s Market!

1. DEALS- there are some amazing deals out there. Most sellers know this is a tough market and are trying to price to sell. Not to mention all the foreclosures and short sales available.

2. Interest Rates are at a all time low! 5% and less sometimes which they are predicting these rates will not stay this low and that these rates won’t be seen again for a very long time.

3. $8000 Tax Credit from the government which will be up May 1st and I don’t think they will extend it again. This is great because whatever you get your property for just take an additional $8000 off as you would not be getting that cash if you did not purchase!

4. It’s an Investment & Builds equity. If you are already paying rent why not put that money into something that is yours and will appreciate over time. If done correctly it is a great way to create money as when you sell your investment will have grown. If you are paying $1000/ month in rent that is $60,000 you have thrown out the window in a 5 year period.

5. Reduces taxable income. Not only do you have your own home but the government allows you to write off the interest which is another great annual savings!

6. Ownership & Independence! It is yours! You can personalize it and create a living space that is completely molded to your ideals. Some may view that as work, but actually it is a very empowering and enjoyable experience.

My perks for buying list could actually go on, but space is limited. If you seek experienced professionals that have your best interest in mind- Buyers Agent, Lender, Inspectors, & more you will find that you are well guided in your purchase. The overwhelming thought of buying will diminish as you are guided through the process.

Often a good Buyer’s Agent will have many contacts for the key players needed in a purchase, so the key is to connect with a good buyers agent. Our service is free to the buyer and we really minimize the work needed to attain a property!

Happy Buying to all!

St Louis real estate is our specialty! If you’re looking for real estate anywhere in the St Louis, MO area, including St Louis City, St Louis County, St Charles, Ballwin, Chesterfield, Kirkwood, Webster Groves, or one of the other areas we serve, simply click the “Search St Louis Real Estate” link at the top or bottom of this page to begin your home search