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  

Attention Luxury Realtors: Perseverance Pays Off

by Chuck Roper 30. November 2018 09:23

Every day, I read an article about the duality in our real estate market and the uncertainty of luxury home sales.  Yes, it’s been true for some time that mid and lower priced homes are selling fast and furiously, while million dollar listings take longer to sell and require more marketing support.  

Just because the market may be slowing, doesn’t mean that we are slowing.  We sell homes every day of the year.  In fact, Janet McAfee sales are up significantly this year.  Perseverance is paying off.  Discipline, consistency and executing proven strategies will deliver results.  If the market gets tough, I’m up for the challenge … are you?

-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

"Beat the Heat" Showing Tips

by Chuck Roper 24. July 2017 07:38

St. Louis reached an official high temperature on Saturday with a scorching 108 degrees.  It’s difficult to do just about anything in that heat zone, much less tour homes with out of town buyers.  Everything looks and feels “wilted” making it difficult to showcase our lush St. Louis neighborhoods to transferees (especially if they are coming from Northern Michigan!)

Cool down the House 30 Minutes Prior to Showing – If the home is vacant or if the programmable thermostat is set for energy conservation during the day, an uncomfortably hot house is an immediate turn off for prospective buyers.  Make sure someone arrives early to cool the house, turn on all the lights and play quiet, calming music. 

 

Run the Irrigation System before your showing – Remember, first impressions are everything in real estate.  Nothing says “old, tired, long dated listing” like scraggly, drooping landscaping.  Keep weeds in check; lawns should be cut appropriately for the heat and perennials should be kept trimmed and looking healthy.  Watering prior to showings will give a healthy and well-kept appearance. 

 

Keep your home Clean and Uncluttered.   There’s something about hot weather that makes dirty, overstuffed homes feel even more stifling.   Now, more than ever, it is imperative to purge tabletops of dust loving knick-knacks, wipe down counter tops and vacuum carpets.  A glistening, streamlined home feels cooler and more inviting.

 

Janet Horlacher

Principal, Janet McAfee Real Estate

 

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General | Seasonal Preparations

What is your home’s Aesthetic?

by Chuck Roper 7. July 2017 05:50

I believe every home has an aesthetic, whether it be a specific architectural period (like Tudor, Greek Revival or Mid Century Modern) or it could be a certain look (like bright and airy sunlight filled rooms) which strikes us as we tour the home.   St. Louis homes are rich in diversity and architectural interest.

Our job as Realtors is to communicate the home’s aesthetic to potential buyers.  Not every home appeals to every buyer, but there is a buyer for every home.  Each of us carries our own sense of style and perceptions about how our home should look and feel.  Often times, I hear buyers explain their criteria for buying a home with terms like “I will know it’s the right house when I see it.” 

This month we are focusing on how to best present the home’s aesthetic.  With technological advances in photography and digital media, there are so many opportunities to capture the home’s true essence.  With regard to interior photography, it is about more than just high resolution; we look at lighting, depth of field, composition and color.   For exterior, we love aerial, drone video and twilight photography.

Janet Horlacher

Principal, Janet McAfee Real Estate

 

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