May 30, 2017
Resplendent. Stately 4-over-4 Georgian Revival Estate on 3.0 acres. Infinity views to Bellerive Country Club's 17th fairway and green, 2018's host to PGA Championship Tour. Durable; built commercially w/concrete piers to bedrock & steel joists in floors. Circle drive, parking court, heated 3.5 car garage w/epoxy flooring, custom storage. Whole house generator.
Classic stately 1.5 sty Georgian Colonial in the heart of Frontenac, Ladue Schools (Conway Elementary). Fabulous flr plan and move in ready! Spacious 2 sty entry w/graceful curved staircase, formal dining rm, library/study, elegant living rm w/a wall of windows, extensive hardwood flooring, multi-piece mill-work, Gourmet kitchen w/center island, 2 sinks, Wolf 6 burner gas range, Subzero, opens to Breakfast rm & Hearth rm with floor to ceiling stone fireplace.
Newer construction offering in one of Olivette's very best locations; in award winning Ladue Schools. 4BD/4BA/3,650SF/10yrs Old, on half acre lot. Near the end of very quiet cul-de-sac, the home features vaulted ceilings, flooded in natural light, with wood floors throughout main, sky lights, craftsman millwork and moldings.
Don’t miss out on this beautiful two-story brick traditional home in the sought after YORK VILLAGE NEIGHBORHOOD. Entry foyer opens to traditional living room w/ bay window, fireplace & separate dining room. Beautiful glass French doors open to spacious eat-in kitchen w/ center island, breakfast bar, and adjacent nook with vaulted ceilings. Partially finished lower level with rec/play room. Sprinkler system, two-car rear entry garage.
May 25, 2017
With the resurgence of the real estate market, a lot of Millennial buyers are finally ready to dip a toe into the world of homeownership for the first time. But that raises questions of just what fiscal pitfalls an inexperienced house shopper might want to consider. According to an article in CNNMoney, there are several points you should bear in mind when it comes to finances and making the biggest purchase of your life.
• Figure out your range. High hopes and a few dollars in the bank aren’t a solid footing and a down payment isn’t a financial plan. You need to take a realistic inventory of where you are at budget-wise. What you want may not be what you can afford. That could mean adjusting your expectations or perhaps waiting a bit longer until your income can accommodate your dreams.
• Remember expenses. There is more to a home than your house payment. Keeping the lights on costs money. So does keeping the roof and walls up so be sure to figure in maintenance costs. Experts interviewed by CNN note that new homeowners tend to underestimate the price tag for moving in as well as for living expenses. They recommend that the mortgage payment not exceed 30 percent of your pre-tax income.
• Keep something in the bank. If a new home just barely fits your budget, then it doesn’t really fit your budget at all because the goal is not to spend every dime you have. Overextension can leave you vulnerable to unexpected expenses or even an errant estimation of expected ones. Like any good general, you want to keep your reserves ready in case the battle goes badly. When problems arise, an empty savings account and full credit cards are a bad combination.
• Be wary of revamps. With the popularity of home remodel shows, everyone wants to try their hand at a residential facelift. Obviously, you’ll want to make some changes to your new digs but remember that real-world expenses can be far less predictable than the ones you laid out on paper. If you decide to purchase a home that “needs love,” keep that in mind while making out the budget. You might get a good deal on a fixer-upper but if you’ve just purchased a money pit, make certain you have the resources to fill it.
May 25, 2017
Homebuyers have an axiom: Never fall in love with anything that can’t love you back. It is easy to become misty-eyed while touring a house that seems perfect but your family’s future is at stake and it is vital to make sure that you take a hard, no-nonsense look at any potential new abode before locking yourself into a six- or seven-figure commitment. According to Realtor.com, there are a number of warning signs you should check before signing on the dotted line.
First, pay attention to the home inspection – particularly with regard to important deficiencies like major electrical, structural or plumbing issues. Don’t get so caught up in paint swatches and landscaping that you gloss over the fundamentals. A house with critical flaws can leave your wallet in critical condition. Also, keep an eye out for environmental difficulties like mold, asbestos, lead paint or septic problems. It can’t be your dream home if living there makes you or your loved ones sick.
Second, the website advises that buyers look at some of the minor details. Things like lighting, paint or trim aren’t a big deal in and of themselves but if they were done badly or on the cheap, it could be a canary in the coal mine – a warning indicative of more serious problems from a builder who wasn’t overly worried about quality control.
It is also good to remember that you aren’t just buying a house. You are buying a subdivision and a set of neighbors as well. You don’t necessarily have to knock on every door but feel free to visit the area a few times at different points including nights and weekends. If someone has a propensity for loud nocturnal parties or owns dogs that bay at the moon, you need to know that before closing. Also, if you are near an airport, landfill or other facility that could affect the noise or odor level, it is good to visit a few times so you can see if you still love your home when wind direction or flight patterns change.
You should also be wary of buying an odd or unusual residence. A place with a strange design or unique floor plan may seem charming to you but a structure that appeals to your artistic side may not have the same resale value that a more generic choice would. If you buy it, make sure you want it because you could find yourself living there for a long time or being saddled with the burden of a major revamp if you want to escape.
Finally, make sure the money is there. A dream home you can’t pay for can quickly become a financial nightmare. While it may be tempting to expand your budget, it is wiser to leave in some padding instead so that a job loss or other cash flow problem doesn’t become an instant crisis.
May 25, 2017
As the market for existing homes continues to trend toward sellers thanks to low inventory, new construction may be increasingly attractive to buyers.
At least that’s the latest dynamic hinted at in Commerce Department figures released late last month. The Associated Press reports that new home sales leapt by 5.8 percent in April, the strongest figure seen since last summer.
It is a trend that could augur well for the economy as a whole since new home construction creates follow-on ripples for the nation’s employment picture. The numbers haven’t moved evenly however. Here in the Midwest, they actually retreated a bit while rising in the South and showing the biggest gains in the Northeast and West.
The biggest factor may be the overall lack of existing housing stock on the market which is at near-historic lows. Meanwhile, mortgage rates aren’t climbing as much as some suspected they might. The average 30-year fixed-rate loan eased downward to just under four percent which may contribute to stronger demand.
According to the AP, the damper on mortgage rates could have to do with the increasing probability of potential gridlock in Washington over tax reform. Prospects for the legislative package remain murky and the deficits it might entail may spur inflation and finally buoy interest rates.
May 25, 2017
Does homeownership evoke warm, idyllic images of baby’s first steps, family game nights and dinner table conversations with the kids? If you are from St. Louis, the answer is probably yes.
A recent survey from a Bank of America report found that just over half of St. Louisans cite family reasons as the impetus to buying a home and 59 percent of those in the market for one associate homeownership with family. According to STLRealEstate.news, that’s a figure above the one found in 10 other markets from Boston to Phoenix where smaller sample sizes were taken to compare to the Gateway City.
Other figures from the online survey of more than 4,900 adults found that 46 percent are looking to purchase their own abode in the next two years and 58 percent are already putting away extra cash for a down payment.
The sample included more than 1,200 homeowners and nearly 500 prospective buyers. Those surveyed who have already purchased homes generally agreed that saving up for a residence is a process that should start early.
For purposes of comparison, about 300 participants were surveyed in cities outside St. Louis including Charlotte, Chicago, Dallas, Denver, Houston, Miami and New York.
May 25, 2017
The Gateway City is on the move when it comes to new construction.
The St. Louis Business Journal has identified 14 projects underway across the area worth in excess of $100 million each including one that cracks the billion-dollar mark.
Heading the list is the National Geospatial-Intelligence Agency which could bring jobs and development to the city’s north side. Covering several blocks between 22nd Street and Jefferson north of Cass Avenue, the massive $1.7 billion project is proposed to lie just west of the rejuvenated Old North neighborhood.
Second on the list is the Centene project, a $770 million effort which will remake part of Clayton.
Other projects on the Business Journal’s radar include the half-billion-dollar SSM Health-St. Louis University Hospital development, the CityArchRiver renovation, St. Elizabeth’s Hospital in Belleville and a possible revamp of the Railway Exchange Building to bring in living space and retail. Meanwhile, pharmaceutical giant Pfizer is building a 32-acre research campus in Chesterfield, an apartment high-rise is going up in the Central West End and a new office structure is planned to enhance part of Ballpark Village.
The Business Journal’s “Crane Watch” now has more than 100 local construction projects across the area worth more than $7 billion combined.
May 25, 2017
That’s the latest finding from a recent survey by the National Association of REALTORS. The same poll also indicated that nearly two of every five respondents felt it was a good time to sell. The numbers are an improvement from last year’s totals.
New and existing home sales also showed significant increases along with a March upswing in consumer confidence, which jumped to its highest level since the end of the Clinton Administration. It is all part of a continuing thaw in the economy.
The big question moving forward may be interest rates. An article in Realtor Magazine by the association’s chief economist Lawrence Yun, predicted that rates could top four-and-a-half percent by the end of 2017 with even greater hikes possible in the future. Growing rates may dampen enthusiasm for a new mortgage.
Still, the association’s research found that “family concerns” continued to be the main driver of home sales rather than the advantageous economic environment. Interest rates, while attractive, weren’t as important in the decision-making process of homebuyers as traditional factors like changes in family size and structure or the need to move for employment reasons.
May 25, 2017
The Chase Park Plaza will continue but its iconic name is set to fade into local history books.
After a $94-million springtime purchase by Hospitality Properties Trust, the hotel will now take on the Royal Sonesta label and be managed by Sonesta International Hotels Corporation. Both operations are based in Boston.
Constructed the same year as the Great Stock Market Crash, the Depression-era building was previously owned by Behringer Harvard. The sale, which does not include privately-owned condos, will transfer 338 hotel rooms, dozens of apartments and tens of thousands of square feet of meeting space along with a parking garage capable of housing 550 vehicles.
With an estimated value of more than $23 million, the facility brought in better than $34 million in revenue last year.
The 1.2-million square foot property took on its now-discarded moniker just after the close of World War II thanks to a union of the Chase Hotel with the neighboring Park Plaza. From the late 1950s to the early 1980s, it became very familiar to St. Louisans for its locally prominent program “Wrestling at the Chase” which aired on Channel 11 and played a role in the popularization of professional wrestling on the national level.
The hotel remains one of the area’s largest lodging establishments.
May 22, 2017
Stunning and classic home in the historic and popular Claverach Park has been renovated and revitalized with state-of-the-art kitchen, large family room that opens to expansive deck, updated master vedroom, and finished lower level. Truly a must see!
10906 Conway Road | Ladue | $899,000
Gorgeous 4+ bedroom, 5 bath home on professionally landscaped, 1-acre lot in Ladue schools with 3-car garage. Spacious rooms, hardwood floors, handsome millwork and tons of natural light give this home an airy, natural feel throughout. Lower level with rec room, wet bar and storage.
Offering privacy unmatched by any in contention, this charming home is perfectly positioned on 1.22 acres on cul-de-sac on one of the largest lots in Country Lake Estates. Over 4,700 sqft, this home was designed with entertaining in mind with easy access to the main living spaces of the home. A truly special property for those looking for utmost privacy.
May 15, 2017
Charming Ladue home with private courtyard patio has been updated throughout & is move-in ready. First floor master suite, beautiful vaulted ceilings & wood beams & 2-car garage with mud room.
Charming and updated 2-story home features 2,197SF, three bedrooms, a main floor bonus room that walks out to sundeck, beautiful hardwood floors, 2-car attached garage, finished lower level & more!