St Louis Real Estate Blog | St Louis Real Estate Today

Oct. 6, 2017

JUST LISTED | 1448 Lyndale Avenue | University City, MO 63130 | 3 BD | 1 BA | 1123 SQ FT | Offered at $100,000 | MLS# 17079854

JUST LISTED | 1448 Lyndale Avenue | University City, MO 63130

3 BD | 1 BA | 1123 SQ FT | Offered at $100,000 | MLS# 17079854

Don't miss the sweet 3 bedroom, 1 bath home in University City. Gleaming wood floors, fresh paint, one car garage, fenced in level yard, and quiet cul de sac. No showings until first open house on Sunday from 1-4pm. Contact Rosalyn at 314-877-8506 for more information.

Posted in Listings
Oct. 3, 2017

Thinking of Selling your Home? Competition is Coming

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.7% over last year.

How will this impact buyers?

More inventory means more options. Danielle Hale, Realtor.com’s Chief Economistexplained this is good news for the housing market - especially for those looking to buy:

"It's not spectacular construction growth, but it's slow and steady in the right direction. Eventually, the pickup in single-family home construction will mean [buyers] will have more options. Especially with the limited number of sales right now, more options are really needed."

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

  1. A great price on their home as buyers outbid each other for it
  2. A quick sale as buyers have so little to choose from
  3. Fewer hassles as buyers don’t want to “rock the boat” on the deal

With an increase in competition, the seller may not enjoy these same benefits. As Hale said:

"As new construction continues to increase, home shoppers will eventually have more [choices] and a bit more time to make purchase decisions compared to today's quick-moving housing market."

So what does this mean for you? If you are considering the sale of your home, it might make sense to beat this new construction competition to the market.

Oct. 3, 2017

How to Get the Most Money from the Sale of Your Home

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

A new study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

Oct. 3, 2017

8 Things Hurricane Harvey Taught Me

If you went to MegaRelief, then I don't have to tell you just how inspirational it was. It truly was an amazing experience and I wanted to share a few of my takeaways.

8 Things Hurricane Harvey Taught Me 

1. Leadership is essential, especially in a crisis. If you have leadership abilities, use them. There are not enough strong leaders in the world!

2. Having the right tools makes hard work faster and easier. Spending a few minutes to pick out good tools and learning how to use them is invaluable.

3. Filling trash bags full of water-logged stuff gives you perspective. Most of us own too many things. Use what you have a little longer and give the money you would have spent away.

4. The company you work for matters. I admire the way Keller Williams has stepped up to help, not only their agents, but whole neighborhoods.

5. Everyone should aspire to make more money. You were not born to pay bills and die. Money is good for the good it can do. You need to make more so you can give away more.

6. Realtors are the keepers of communities. We help people with an essential need - shelter! When your home disappears overnight, you are reminded how important that is.

7. Follow your heart. Passion makes hard, smelly work feel joyful and rewarding.

8. People are at the heart of it all - my relationships with God, Realtors in my company, and my neighbors in Texas have never been more powerful and for that I am grateful!

Thank you Harvey for the wisdom. ??

COMMENT with your lessons learned, I'd love to hear them! 

Onward,

Wendy Papasan
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Posted in Press Release
Oct. 3, 2017

How Supply and Demand Impacts Real Estate Home Values [INFOGRAPHIC]

Some Highlights:

    • The concept of supply & demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high!
    • Anything under a 6-month supply is a seller’s market!
    • Nationally, there has not been a 6-months inventory supply since August 2012!
    • Inventory levels differ depending on the area of the country and price range, so let’s get together to discuss the exact market conditions in our area.

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Posted in Uncategorized
Oct. 3, 2017

Report: Homeownership Is a Precondition of the American Dream

Hearth just released their 2017 State of the American Dream report which showed that Americans still see homeownership as an integral piece of the American Dream. The report confirmed that “all generations–including millennials–agree homeownership is very important to achieving the American Dream.

Americans ranked “owning a home I love” higher than any other options (including “starting a family” and “finding a fulfilling career”) as an important part of the American Dream.

Despite some claims that homeownership’s importance to the American Dream is in decline, the report found that the dream of homeownership remains strong.

Of Americans who said they think achieving the American Dream is important, 70% think homeownership is important to the dream, and 41% think homeownership is very important to the dream.

What about Millennials?

Hearth addresses the desires of millennials by explaining:

“Contrary to popular opinion, millennials who want to achieve the American Dream are 5% more likely than Baby Boomers to think homeownership is important. And two-thirds of millennial renters view homeownership as important to the American Dream.

Although millennials are often portrayed as fickle and transient, they actually seek the stability of homeownership even more than their parents.”

Other Key Findings from the Report:

  • Homeowners are 126% more likely than non-homeowners to view homeownership as a way to build wealth. Nevertheless, homeowners still overwhelmingly associated homeownership with a family living space.
  • Homeowners are 24% more likely than non-homeowners to see homeownership as an achievement that reflects hard work.
  • Millennials are 77% more likely than baby boomers to see a home primarily as a way to build wealth.
  • Baby boomers are 98% more likely than millennials to see a home as a way to pass wealth down to children or family.
  • Millennials are 29% more likely than baby boomers to see a home as an achievement that reflects hard work–an outcome we expected given that many millennials are still working hard to afford their first homes.

Bottom Line

The report concluded:

“This survey revealed a powerful finding: Across demographic groups, homeownership remains a precondition of the American Dream.”

Posted in Uncategorized
Oct. 3, 2017

PPG & Hurricane Harvey Relief: What We've Accomplished, What Is Next

Here at Papasan Properties we have been completely overwhelmed by the outpouring of support for our KW Relief efforts. As we look back at the week, we not only want to say THANK YOU but recap the progress made. There is still so much work ahead of us, but TOGETHER we made a HUGE IMPACT this past week. That difference was never so evident than on the faces of the homeowners who have been hit hardest by Hurricane Harvey. The hugs alone spoke volumes!

What we've accomplished at PPG:

  • PPG team members have been picking up donations all over the city to help stock our KW Command Center in Houston
  • PPG team members are rotating shifts in Houston ALL week to provide hands-on help to those in need
  • PPG sponsored a fundraising event at Kendra Scott 8/31 to raise additional money for KW Cares
  • As part of our in-house donation drive and fundraising, the PPG team has raised $70,000 to date
  • Jay Papasan and Gary Keller will be donating $5 to the Salvation Army for every book sale for The ONE Thing in the month of Sept. At the current pace, that will be $50,000+.

What we've accomplished at KW Cares:

  • In the first 36 hours, KW raised over $4M towards the $20M goal
  • 2150+ volunteers through the doors of the command center to support our efforts
  • 75+ homes cleared
  • 12 Semi Trucks have come in with necessary supplies
  • 50+ large box and moving trucks filled with relief supplies donated from KW Agents and families
  • 200+ Families have come through our doors to collect the necessary supplies to begin rebuilding their lives

What is Ahead for the Relief Efforts:

  • Our annual MegaCamp with 18,000 registrations has been replaced with MegaRelief and attendees will be aiding in relief efforts
  • Our fundraising efforts at KWRelief.org continue, please select "Austin - SW" as the market center and "Hurricane Harvey Relief - PPG"

If you know of anyone needing assistance, or would like to make a monetary or time donation to our efforts- please visit KWRelief.org.

Posted in Press Release
Sept. 15, 2017

JUST LISTED | 703 Darst Rd | Ferguson, MO 63135 | 3 BD | 1.5 BA | 1026 SQ FT | Offered at $100,000 | MLS# 17071529

JUST LISTED | 703 Darst Rd | Ferguson, MO 63135

3 BD | 1.5 BA | 1026 SQ FT | Offered at $100,000 | MLS# 17071529

703 Darst Rd Ferguson MO 63135

Drive down this quiet, tree lined street in Old Town Ferguson to this quaint full brick home. Gorgeous hardwood floors great you as you walk through the front door. Finished basement with huge walk in cedar closet and plenty of space for office, family room and/or additional sleeping area. Recently remodeled kitchen and bathrooms with high quality cabinets. One bedroom on the main level and two bedrooms upstairs with double closets. Lovely sun room off of the kitchen that looks out into a beautiful fenced in yard. Freshly painted and ready for it's new owners. This home has been lovingly cared for by the same owners for decades.

Posted in Listings
Aug. 10, 2017

Ready to Make a Change? It's Only 66 Days To a New Life

Back to School is here and with it brings new routines, new challenges and new opportunities. For parents, it can almost feel like a second New Year's filled with resolutions on how to be more productive, more mindful, and more present in our lives.

If you're looking for inspiration to tackle a fresh start this Fall, you'll love the latest episode of The One Thing podcast with our very own, Jemme Pherigo. She gives her tips on how to take small steps that lead to big changes in your quality of life. Over the span of two years, she has given up soda, lost 26 lbs, said goodbye to toxic relationships, started the habit of early rising, and stopped smoking. Find out how she did it, here.

After the podcast, make sure you stop by the One Thing Resource section for your very own:

Posted in Podcast
Aug. 7, 2017

20 Tips for Preparing Your House for Sale [INFOGRAPHIC]

Some Highlights:

  • When listing your house for sale your top goal will be to get the home sold for the best price possible.
  • There are many small projects that you can do to ensure this happens.
  • Your agent at PapasanProperties will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!