Beautifully updated all brick 2 story on 3+ acres in the gated enclave of luxury homes overlooking the Missouri River! Everything is new– gorgeous custom vaulted kitchen by Archway with WOLF, SubZero, and ASKO (wine cooler, 2 ovens, 5 burner, downdraft cooktop, etc.), granite everywhere, undercabinet lighting, walk in butler’s pantry, glass-front, lighted cabinets, and contrasting center island with breakfast bar. Large 2-story sunroom with beamed ceiling and palladian windows overlooks wooded backyard, Katy Trail, and River. Hardwood floors throughout. 2-story marble entry is flanked by dining room (with fireplace) and living room. Beamed family room has fireplace and wet bar. Two powder rooms and large main floor laundry. Upstairs is Master Suite with St. Louis Closet Co. and custom cabinets in bath with two sinks, granite and gorgeous tile. Also, french doors to balcony! Three additional bedrooms with large closets share updated full bath. Zoned HVAC, newer roof, large inground pool, gorgeous grounds, generator, irrigation, more.

The biggest news for St. Louis and national real estate this week is coming from the mortgage industry. Mortgage interest rates have dropped below 4% for a conventional 30 year fixed-rate loan. While the vast majority of loan applications are for refinances, we are seeing a pick up in purchase activity as a result.

With inventory holding steady and pending sales increasing slightly, the data found on the Nolting Report points to good news this week. In fact, our months of inventory average number has now dipped into the 6 – 7 range for the first time in a long while. While this number still indicates a buyer’s market, it is awfully close to a balanced market. I’m continuing to expect a healthy fall sales season as buyers who waited out the summer’s political and economic troubles (debt ceiling debate, downgrade of the economy by Standard and Poor’s) finally decide to get back in the market.

Within the last 7 days, Active Listings have dropped from 3993 to 3931 as many listing agreements expired on the last day of August.  We also saw a large number of end of the month closings, resulting in a our Pending number dropping from 1011 to 937.  This week should show a healthy beginning of the fall market in St. Louis as continued low interest rates push those who have been sitting on the sidelines onto the playing field.

According to Fox News, The Federal Housing Agency, which oversees U.S. mortgage giants Fannie Mae and Freddie Mac is preparing to file suit against more than a dozen big banks.

“The suits– which seek billion in compensation– allege that lenders including Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank inaccurately represented the mortgage securities they put together and sold during the housing bubble.”

This recent word of suit has affected the stock market significantly.  This could possibly be one of the largest lawsuits in U.S. history if these companies are deemed responsible.  The Russell Nolting Group will keep you updated as to what the outcome out this lawsuit will mean and how it will affect the St. Louis Real Estate Market.

With 3 beautiful acres, a beautifully appointed ranch home, a detached garage with full, 1 bedroom apartment (including nice bath, full kitchen, family room, and bedroom), and a newer in-ground pool, this Defiance executive home has it all. The long circle drive leads you to the well-manicured entrance. From the foyer with nice hardwoods, your eye is lead through the massive great room to the wall of windows overlooking a private backyard. The study and dining room flank the entry hall and are framed with arched entries and simple columns. Palladian windows allow light to stream into these spaces. A huge master suite with oversized closets and a luxury bath is the highlight of the bedroom wing. Two additional bedrooms and a full bath included. The kitchen is large and features a center island and octagonal breakfast room overlooking the pool area. Through the pool area is the detached garage with guest quarters. Main floor laundry, attached garage, deep pour lower level, and more.

Lance Kendricks has been an integral part to the Rams offense since training camp started after the lockout. During preseason Kendricks made his debut and doesn’t look like he is about to slow down at any point.

The second-round tight end has led the Rams in receiving this season, catching 11 passes for 155 yards and three scores. The St. Louis Rams will open up the regular season against the Philadelphia Eagles on Sunday September 11 at noon.

The Rams are going to have a difficult schedule this season! Having their leader Sam Bradford as quarterback, the solid play of the team in their undefeated preseason, and the power to overcome adversity they will find success!

If you’re looking for a cookie-cutter McMansion, you’ve come to the wrong place! This luxurious brick/stucco ranch is for someone special. You must appreciate the strong connection between indoor and outdoor spaces–the pool, spa, al-fresco dining room, and outdoor living area with gas fireplace are all accessed from 5 sets of doors located in the Great Room, Dining Room with canopy ceiling, and three bedrooms suites. This home is an interesting mix of open entertaining areas and quiet, secluded spaces like the study w/ fireplace and palladian windows. The large master suite with fireplace, spa bath, and a walk-in closet that would make Heidi Klum’s jaw drop is close to the main floor laundry – talk about easy on the knees! An open plan kitchen boasts a wine cabinet and tons of granite. The garage is a perfect fit for 3 cars and a couple of Harleys. Bedroom 4 is above the garage with a private entrance — au pairs welcome! Walkout lower level…finished!

In this week’s St. Louis Real Estate update, there has been a slight decline in the number of active listings and month of inventory. This could be a direct result of people getting back into the swing of “school time” for their children putting the real estate market on the back burner. Although, with interest rates still at record lows there should be an increase in houses being sold for the next coming months. If you are a seller in this economy the good news is that the sellers that are motivated to sell there home have taken their property off the market. Therefore, giving those motivated sellers more of an advantage to selling their home.

This week’s slide in the number of Pending Contracts in St. Louis is  accompanied by a reduction in the number of ACTIVE listings.  In fact,  from a statistical standpoint, your home continues to have the same  statistical likelihood of being selected by the buyer pool — fewer  buyers have fewer homes to choose from.  Typical expectations for the  2nd half of August — showings tend to be on the slow side as families  focus on getting their kids back to school.  After Labor Day, we start  to see a pick up as families begin to focus on moving prior to the  holidays.  Of course, the highest quality buyer — the one who NEEDS to  find something — is always out there regardless of the time of year.