St. Louis real estate market
Each week, our team compiles The Nolting Report — St. Louis’ most comprehensive overview of the real estate market. This week’s report shows that the number of real estate buyers in St. Louis has increased over the past week — The spring real estate market has arrived late, but it is here! Perhaps it’s time for you to begin to search for St. Louis Real Estate.St. Louis Real Estate’s Total Market Overview for April 26, 2011
Category : Blog &St. Louis Real Estate Sales Statistics &The Nolting Report &Uncategorized
Real estate appears to be stabilizing across the Country
A recent report shows improvement in real estate across the country. St. Louis real estate seems to be leveling as well. The well known S&P/Case-Schiller index shows that the 10 city index and the 20 city index a marked improvement in real estate in the majority of cities that it tracks. What the reports displays are small improvements or minimal devaluation in home values. Home values are up anywhere from .1% to 3.4% in ten cities. In other areas real estate values have remained flat and in harder hit areas home values are decreasing at significantly lower rates.
While the news is certainly not staggering it is encouraging because it indicates that real estate markets across the Country and right here, in St. Louis, are leveling out. Home values are falling less sharply and people are being drawn back into the real estate market. It is no surprise what is stimulating the market. Low home values, low interest rates and the First Time Home Buyer Tax Credit have combined to create an ideal buyer’s market.
For more information on the latest info click here for a report from Yahoo real estate.
Category : St. Louis Real Estate Sales Statistics
Consider an appreciating market. You price your home and enter it into the St. Louis MLS (which you can search by clicking here). Because you have entered an appreciating market you will immediately be underpriced if you entered at market value. Even if you entered the market overpriced, the market will begin to catch up to you — because the market is going up.
But what happens when the market is falling? What’s your strategy then? Consider a boulder rolling down a hill… How do you stop it? You’ve got to get in front. If you are priced above the market, you are constantly falling farther and farther behind the competition. And you are becoming more and more over priced.
When a professional Realtor prices your home in a declining market he should look at the market and then advise you to price slightly lower. That way you’re getting ahead of the competition.
To do this, a Realtor needs to not only show you what has sold in the past 6 months, but he must also show you what’s on the market. Houses on the market are like people waiting to pick up donuts at the bakery. Nobody wants to be at the end of the line. Everytime you cut your price, you cut in front of a bunch of people in line. The goal — CHECKOUT!! Waiting in line stinks!
If your Realtor has the expertise to price your home, if he’s an expert, professional St. Louis Realtor with lots of experience, listen to him. Want to know what your St. Louis home is worth?
Category : Home Buyer and Seller Tips &Real Estate Sales in St. Louis &St. Louis Real Estate Sales Statistics
