buying a home in St. Louis
Housing starts in St. Louis are up. Nationally, a 22% surge represents the first increase since June when they rose 11%.
Applications for building permits, considered a reliable sign of future construction activity, rose 3% to a seasonally adjusted annual rate of 547,000 last month. Economists were expecting permits to fall to 500,000.
A past article about housing starts in St. Louis.
For more information about housing starts, please visit my St. Louis Home Guide website, or call me at 314-267-2636.
And, to know what your house is worth in today’s market, please visit “What’s my St. Louis home worth?”
Russ
WASHINGTON (MarketWatch) – Boosted by an 82% increase in construction of apartment buildings, U.S. housing starts surged 22% in February to a seasonally adjusted annual rate of 583,000, the Commerce Department estimated Tuesday. It was the first increase in eight months. Construction of new housing units had plunged 38% in the previous three months before February’s unexpected jump. Economists had forecast a further drop to 456,000, despite an expected surge in multifamily construction. Building permits, which are less volatile than the starts data, rose 3% in February to a 547,000 annual rate. Permits for single-family units rose 11% to a 373,000 rate, the largest percentage gain in 18 years.
Category : Real Estate Investments in St. Louis &Real Estate Sales in St. Louis &St. Louis Real Estate Sales Statistics
An experienced Realtor may be just the right thing when you are getting close to making a move, but if you are just beginning the stages of looking, you may not be prepared to deal with the pressure of a commissioned salesperson. Let’s face it, we’ve all averted our eyes at the car dealership or Nordstroms.
My job, as a Realtor, when I’m working with a buyer is to research properties, provide advice on value, allow access to listings, negotiate contracts, and move us smoothly from contract to closing.
But before I get rolling with my job, you, the buyer, need education. You need to know what’s out there on the market. This may take time — the typical buyer begins looking 18 months prior to closing on a house. If you might be in the market, let me suggest that you vising http://www.SearchHomesStLouis.com. This website will get you immediate access to St. Louis listings without having to call a Realtor. It will allow you to set up your initial search and receive daily email updates right when homes hit the market.
Search Homes St. Louis is a free service of Nolting Real Estate. We will not contact you with repeated phone calls after you set up the search. We hope you enjoy this service.
And if you are ready to talk to an experienced St. Louis Realtor, contact me on my direct line at 314-267-2636. I’d be happy to talk to you whenever you’re ready!
Russ
Category : Chesterfield, MO &Des Peres, MO &First Time Homebuyers in St. Louis &Moving to/from St. Louis &Relocation to St. Louis &St. Louis Real Estate Buyers
Founded in 1908, the National Association of Realtors (NAR) is North America’s largest trade association. The NAR governs local Multiple Listing Services (MLS) and owns and maintains Realtor.com — a convenient website to find St. Louis real estate listings.
More importantly, the National Association of Realtors works hard to advocate for homebuyers and sellers. The NAR is the third largest donor to political campaigns, donating over $30M since 1990.
Recently, the NAR has been protesting an increase in loan fees by Fannie Mae and Freddie Mac, the two government-back lending institutions that purchase and secure home mortgages.
In an update posted on one of its Web sites Monday, Fannie raised some of the fees it charges to lenders when it buys or guarantees certain types of mortgages. The fees generally are passed on to consumers.
For instance, for a 30-year fixed-rate mortgage to buy a condominium, allowing for initial payments of interest only and with a 20% down payment, a borrower with a credit score of 690 will pay fees totaling 3.25% of the loan amount for mortgages Fannie purchases after April 1, up from 1.25%. This is a significant increase.
The NAR is desperately trying to encourage the financial sector to make home buying more attractive. Through the protest, the NAR hopes that Fannie and Freddie will reconsider this discouraging move.
Click here for more information about how Fannie Mae affects the real estate market in St. Louis.
Click here for my eNewsletter and daily St. Louis and National real estate news. The link is located in the bottom left of the webpage.
Category : First Time Homebuyers in St. Louis &Lenders in St. Louis &Mortgages St. Louis &St. Louis Real Estate Buyers
