On Wednesday, the Federal Reserve announced raising the Federal Funds rate (the rate which banks lend money to other banks for overnight borrowing) by one quarter percentage point.   Historically, an interest rate hike sends Realtors into an emotional frenzy.  This time, however, I have heard very little push back and I think this is why: 

1.       We all anticipated the rate hike.  Generally, we don’t like surprises, so it just confirmed what we already thought.

2.       We are happy the economy is performing better; unemployment is under 5% (4.7% in February); 200,000 jobs are being added per month; and the stock market is at record levels (actually closing higher on Wednesday).

3.       Mortgage rates remain historically low.  After the announcement, the 30-year rate rose from 4.21% to 4.30%.  If you’re like me and purchased your first home with a 12% mortgage, this still seems like a pretty good deal. 

4.       Real estate sales are gaining steam.  In our market area, 65 homes went under contract from Wednesday to Friday.  71 homes are pending, which means they are scheduled to close. 

As Realtors, we can’t predict the future.  But for now, we are seeing positive economic signs, confidence and optimism.  I’ll take that any day!

Janet Horlacher

Principal, Janet McAfee  

Sellers often ask me if there is a benefit to staging their home.  The answer is a resounding YES!  Research from the National Association of Realtors (NAR) and our “real world” local experience is indisputable: staging adds value, reduces the time on market and produces a positive ROI.   Here are the 10 Reasons to Stage Your Home for selling:

1.       You will make more money.   A 2015 NAR survey found the majority of buyers were more likely to offer higher prices for a staged home compared to a similar home.

2.       Your home will sell faster.  Professionally staged homes spent 72% less time on the market, according to a survey from the Real Estate Staging Association.

3.       Buyers can visualize themselves in the home.  81% of buyers it was easier to visualize the staged property as their future home.   

4.       Your online photos will look better.  Over 95% of home buyers look online.  This is where you make your first impression and where potential buyers decide whether to make an appointment.  Professional staged homes stand out and generate more buyer interest. 

5.       Staging helps defuse other property flaws.  2015 NAR survey revealed 28% of buyers viewing a staged home overlook other property faults.  The eye is naturally drawn to clean, well-appointed furnishings and away from minor imperfections.

6.       Personal photos and memorability distract your buyer from viewing the home.  Remember, you are trying to help a buyer see themselves living in this property, not as a guest amidst your family’s personal life story.

7.       The cost of staging is less than your first price reduction.  Some sellers will say “I’ll give it a try without staging and then if it doesn’t sell, I’ll stage it.”  This is a huge mistake.  Days on market tick on.  By the time you have determined you need to stage, your best prospects have already seen your home and formed their opinion.   You are looking at a price reduction just to attract new interest.

8.       Sellers are not objective about their own homes.  The chinoiserie fabric you selected to match the floral chintz may be your pride and joy, but the buyer may not share your design style.  A professional stager will select a neutral pallet which appeals to a broad range of prospective buyers.

9.       You will save time and reduce your anxiety.  Selling your home can be stressful and time consuming.  A professional stager will manage the process for you so that you can devote your energy into your new home.

10.   Your Realtor will support you 100%.  Real estate professionals know that staged homes attract higher offers and faster sales.  We are delighted to help facilitate the process, make appointments for you, meet painters or handyman at your home and help you arrange an estate sale.

Janet Horlacher

Principal

Janet McAfee Inc.

(Property in photograph is 9044 Clayton Road, professionally staged by Property Enhancements LLC)

Have you ever heard a graduation speaker declare "follow your passion and you will be successful?"  What if you don't know your passion?  What if you are just starting out, trying to figure out your career path and you don't know your "passion?"  I think some things in life are not always "love at first sight."  And, I think selling real estate is not necessarily "love at first sight."  

If you speak with successful Realtors, many will tell you that it took time and perseverance to excel.  Moreover, they did not become passionate about selling real estate until they had stuck with it, worked really hard and begun to see the fruits of their labor.  The passion came after the hard work.  I believe the real estate profession is about perseverance.  Successful Realtors are committed every day; they keep abreast of market activity; they touch base with their clients regularly and they are passionate about helping their clients. These are the Realtors who succeed and love their job.  They become passionate about their job when they see the benefits of their hard work and the lives they have touched.

I believe real estate is one of the most rewarding careers you can choose.  It requires a great deal of perseverance.  Perseverance is the key ingredient to success and self fulfillment.

- Janet

Principal, Janet McAfee Real Estate

In recent weeks, I’ve observed a flurry of price reductions and I believe we are seeing great values for the savvy buyer.   The end of summer often brings about price correction (and sometimes underpricing).  Perhaps sellers don’t want to face the winter with the thought of an unsold property.  Now is the time for buyers to capitalize on this value pricing.  Too often, buyers focus only on new listings to the exclusion of older inventory.  I believe there are great deals to be made with older listings which are now priced at incredible values. 

Janet Horlacher
Principal
Janet McAfee Real Estate 

If you are looking for refined luxury living in a well known Ladue neighborood, check out this Ladue News feature home article by Blase Hart-Schmidt.

15 Clermont Lane

BY BLAISE HART-SCHMIDT

This 4-bedroom, 3-full and 1-half bathroom home in Ladue is listed for $1.2985 million.

YOU’VE PROBABLY DRIVEN BY this home and done a double-take at its bright pink door. But what you might not realize is that behind the entrance is a home with an abundance of charm.

The 4,400-square-foot home in a sought-after neighborhood features a gracious center-hall floor plan, step-down living room and chic dining room. Enter the private backyard through the adjoining living room to enjoy the quaint secret garden and gorgeously landscaped grounds.

The new gourmet kitchen boasts a breakfast bar, butler’s pantry, center island, custom cabinetry, solid surface counters and a wine cooler; and the main-floor master suite’s new bathroom, sitting area, gas fireplace and private patio make it a true oasis. You’ll enjoy having plenty of space thanks to the three bedrooms, two sitting rooms and two bathrooms upstairs.

Built-in bookcases, special millwork, walk-in closets and main-floor laundry round out this home’s amenities. 

For more details, please contact the listing agents:

Judy Miller
314.368.9011

Raye Zeigler
314.496.9022

The Ladue News Magazine contacted us looking for examples of homes that speak to today's luxury buyer.  We suggested 12 Hillvale in Clayton as a superb example of a home with outstanding features and refined luxury finishes.  A copy of the feature article written by Blase Hart-Schmidt follows:

12 Hillvale Drive

BY BLAISE HART-SCHMIDT

This 5-bedroom, 4-full and 1-half bathroom home in Clayton is listed for $1.595 million.

THIS CLAVERACH PARK GEM makes a fantastic family home.  Kids will adore the half-acre property’s zip line and rustic tree house. Lovingly restored to its original grandeur, the 4,700-square-foot house features soaring ceilings, graceful arched openings, custom tile flooring, leaded-glass windows and wrought-iron accents.

An elegant dining room, large living room with a fireplace and an elevated sitting room all adjoin the entrance hall for a plethora of space.  The gourmet kitchen boasts custom cabinetry, granite countertops, a center island, and SubZero and Dacor appliances for effortless cooking.

The family room has 12-foot box beamed ceilings, a full wet bar, fireplace and French doors, which open to the columned loggia and terrace. Mom and Dad can retreat to the master suite, with a walk-in closet, steam shower, his-and-her vanities and a soaking tub. Second-floor laundry, built-in wine cabinets and a locker area in the lower level and a 2-car garage round out this fine home. 

For more details:
Heidi Long
314.308.2283

 

Recently, Ladue News contacted Janet McAfee Real Estate looking for examples of contemporary architecture and design within the Saint Louis community.  We suggested Nancy Ferrillo’s listing at 1300 Log Cabin Lane in Ladue as an outstanding example of contemporary design and world class amenities.  Staff writer Blaise Hart-Schmidt profiled the home in a Distinctive Home Feature.  Her feature follows:

 This 5-bedroom, 4-full and 1-half bathroom home in Ladue is listed for $2.29 million.

1300 Log Cabin Lane

BY BLAISE HART-SCHMIDT


PREPARE TO BE AMAZED BY THIS stunning architectural beauty: Designed by Frank McGuire, this contemporary home sits on 3 lush acres of pure relaxation, including gardens with fountains, a newly reconstructed pool house and private pool.

Rebuilt just four years ago by architect Reggie Konet, the home features top-of-the-line finishes and materials, including Portuguese limestone, ribbon-striped Honduran mahogany and Brazilian cherry hardwood for an ultra-sophisticated atmosphere. In the kitchen, you’ll love using the Wolf, Meile, SubZero and Kupperbusch appliances, as well as granite counters, a center island and breakfast bar.

There’s plenty of space to spread out, thanks to the spacious master suite, great room, library/den, sunroom, hobby/workshop area and cathedral ceilings. The home also includes a Lutron smart-lighting system, main-floor laundry, built-in bookcases and walk-in closets for extra convenience.

For more information about this outstanding residence, contact the listing agent:

Nancy Ferrillo
314.983.2207
nancy.ferrillo@me.com

by stephanie zeilenga
listing price | $2,350,000
listing agent | julie lane of janet mcafee

With a third baby on the way, Jennifer Hackmann and husband Jason decided in 2008 that a little more room might be nice. Practically down the road from where they already lived,  the couple found the perfect house for their burgeoning family.  Located on a 1.52-acre lot at 20 Fordyce Lane in Ladue, it hit that sweet spot of being in a desirable neighborhood while also offering plenty of privacy.

Built in 1937, the traditional Maritz & Young home features five bedrooms and an addition completed before the family purchased the property. The large family room with adjoining open gallery and stone fireplace was the perfect space for family time, says Hackmann. “It’s warm and homey,” she says. “And the kitchen is open to the living room, so even if the kids are doing their homework at the table, or I’m cooking and someone is working on a project, we’re all still connected.”

During the Hackmanns’ six years in the home, they renovated the second level by updating two of the bathrooms, creating a hallway and adding a kitchenette to the master bedroom complete with sink, granite countertops and mini refrigerator. The renovation also included converting a dressing room into a jumbo closet with granite-topped storage island. “It includes two pull-out laundry drawers, a hidden ironing board and three jewelry drawers,” Hackmann says.

The backyard pool and landscaping also got a face-lift. “When we moved in, the pool needed a lot of work, so we had it resurfaced, redid the bricks along the outside of it, and converted it to a saltwater pool,” Hackmann says. “We also added a patio and a nice area with a fireplace.” Surrounded by plenty of flora, the family spent hours in the pool or on the patio and especially loved gathering around the outdoor fireplace in late fall and early winter for s’mores.

The flowing layout on the main floor, and its wide French doors flanked by floor-to-ceiling windows, facilitated entertaining, even for larger crowds. One particular avorite was the annual fall party the Hackmanns threw for their friends. “We love entertaining, and the house is perfect for that,” Hackmann says. “We open all the French doors in the gallery and main living room, and people flow easily through the house between the indoor and outdoor fireplace.”  The family has enjoyed living at 20 Fordyce Lane but is now ready for a change, Hackmann says.  For more details concerning this fabulous Ladue residence, contact the listing agent.

Julie Lane
314.303.6504
julielane@sbcglobal.net 

This 3-bedroom, 3-full and 1-half bathroom penthouse in Clayton is listed for $1.189 million.

BY BLAISE HART-SCHMIDT
 

CLOSE TO SHAW PARK AND CLAYTON'S finest shops and restaurants, and with an open and inviting floor plan, this 1.5-story penthouse has it all.

A building elevator and marble floors in the formal gallery foyer give visitors an immediate taste of elegance. Palladian windows, built-ins and a see-through gas fireplace in the large living room make it a versatile, yet suitable, backdrop for everything from lazy nights in to lavish cocktail parties.

You’ll fall in love with the SubZero, Bosch and Wolf appliances in the eat-in kitchen,  which make serving dinner in the formal dining room, boasting built-in lighted china cabinets, a snap.

Guests will enjoy the main-floor bedroom while you retreat to the upstairs master suite, with double sinks, whirlpool, separate shower, private patio and sitting room. Also upstairs are a third bedroom, laundry room and bonus room.

In addition to the three patios and zoned HVAC, the villa also comes with two-car garage parking.

For more details concerning this exquisite residence, please contact the listing agent.
Ann Carter
314.983.2243
anncarter@janetmcafee.com.