2019 Real Estate Predictions – Crystal Ball or Guess?

by Chuck Roper 10. January 2019 05:50

The question I’m asked most often this time of year is “What’s the market going to do this year?”  Will home prices rise, will it be a seller’s market, a buyer’s market, should I sell now or wait until Spring?

My answer is always prefaced with “there is no crystal ball.”  We do know that some trends will continue into 2019.  Mortgage rates most likely will rise, inventory is also on the rise and home price appreciation will continue to slow.  That’s the national rhetoric we read.  But, the forecasters leave out one overriding truth - REAL ESTATE IS INTENSELY LOCAL.  What happens in San Jose doesn’t translate to St. Louis.   For example, St. Louis County is fairly tight with 2.8 months of inventory.  If we look at luxury homes over $1 million, St. Louis County has a 9 month supply.   My best advice is to ask your Realtor for a market update that is specific to your location and your price category.

 

Janet Horlacher  

Why October is a great month for home buying?

by Chuck Roper 9. October 2018 06:59

We traditionally see a flurry of home buying activity in October.  School is in session, the weather in St. Louis is picture perfect and prices are often at their lowest.

Home buyers find good values in the Fall market.  A quick search through MLS shows a rich profusion of price reductions as summer ends and daylight shortens.  These price declines convey a seller’s motivation to put their home under contract and close before winter sets in.   Great values can be found in long dated listings which are just now reduced to compelling prices.

Also at this time of year, new listings are likely to be competitively priced.  Sellers, who don’t relished the prospect of open houses or showings throughout the holidays, feel urgency to attract a buyer in less time than their Spring counterpart.  Moreover, sellers recognize they are in direct competition with existing inventory with newly reduced prices. 

If you are a Seller with your home currently for sale or you are considering listing your home now, here are a few tips.

 

1.  Refresh your outdoor pots with Fall flowers and foliage.  Trim back summer growth on shrubs and perennials if shaggy.

2.  Make sure you have photos of your swimming pool before it is closed and the furniture stored.  Since your buyer will not be able to inspect the pool entirely during winter, ask your pool company to give you a letter stating that it was in good working condition at the time of closing.   

3.  Do you same for your HVAC.   Buyers cannot test the air conditioner when the temperature is below 62 degrees.  Having a letter from your professional will provide a level of comfort for a prospective buyer.

4.  Let the intense Fall sunlight shine through clean windows.  Pollen can cloud the beautiful clear light you want to take advantage of this time of year.  

5.  Make sure your house is set at a comfortable temperature for showings. This can be challenging when temperatures fluctuate every day.

6.  Finally, this is not the time to “test the market” with an over inflated price.  

 

-Janet Horlacher

Principal

Janet McAfee Real Estate

To My Fellow Realtors, “Buyers and Sellers still need YOU”

by Chuck Roper 10. September 2018 05:37

Just released, a 2018 Harris Insights & Analytics study reported that 90% of all buyers and sellers used a real estate agent in their transaction.  This is up from 85% in a similar study conducted four years ago.  

 

The most important factors in choosing an agent were:  “a referral from someone I trust,” “agents who had listings similar to what I am looking for,”  “looking at websites with ratings of agents” and “having a personal relationship with the agent.”

 

Negotiating the best price was mentioned by 89% of buyers and sellers as being extremely or very important.  

 

I’m not surprised by these findings.  A real estate transaction is complex and stressful.  Why wouldn’t you rely on a professional with a proven track record from a reputable brokerage to help you navigate the most important purchase of your life?

 

(Source: Real Trends September 2018 newsletter)

-Janet Horlacher

What Constitutes Luxury?

by Chuck Roper 30. July 2018 09:03

If there’s one thing I’ve learned all these years as a luxury Realtor, is “Luxury” means something unique to each of us.  Luxury is personal.  

•  Luxury = Lifestyle.  Luxury buyers are inspired by amenities which enhance the home experience.  Lifestyle seekers are excited by outdoor kitchens, breathtaking pools and spas, wine tasting rooms, whole house media systems and over the top master closets. 

•  Luxury = Smart.  Technology has introduced a whole new landscape of luxury features for savvy home buyers.   Temperature controlled wine cellars, variable speed air conditioners and window glass which goes from clear to opaque are features which motivate this buyer.  Does our future include A.I. devices in every room?

•  Luxury = Aesthetic.  Buyers are seeking exceptional design and exclusivity.   Architectural provenance is important for the buyer looking for historic significance.  Haute home interiors include hand crafted draperies and authentic wall murals, which cannot be replicated.

What does luxury mean to you?   

-Janet Horlacher

What 5 Factors Determine The Best Places To Live?

by Chuck Roper 11. June 2018 05:07

When I think about what makes a city a great place to live, I think of these five factors.  And when you compare St. Louis to just about any other place, I think we stack up favorably.  

Proximity – The grocery store, dry cleaners, coffee shop and place of worship are within easy reach by foot, bicycle, car or metro.

Trees and Green Space – We are home to mature tree lined boulevards, parks of all sizes and location and beautifully landscaped neighborhoods.

Great Schools – St. Louis has earned a reputation for academic excellence from early childhood development through our internationally acclaimed universities.  Choices in elementary and high school include public, charter, private independent and religious based.

Fitness and Community Swimming Pools – Many of our municipalities and neighborhood have community rec centers with pools, tennis, gyms and enrichment classes.  

Easy Commuting – Let’s be honest, most of the “in” cities have bumper to bumper traffic with hour long commute times.  In St. Louis, you can easily travel to and from work in less than 20 minutes.     

 

All in all, I can’t think of a better place to live!

 

Janet Horlacher 

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