Jun 29, 2017
In real estate as in life, the one that got away is always the bitterest pill to swallow and no one wants to find the perfect home only to see that someone else has snapped it up first.
But the reality is that a “sale pending” sign doesn’t always denote the stone-carved certainty that many might think and there might still be a way to be the winning bid. The key is to submit a “backup offer.”
According to an article on realtor.com, making a backup offer can ensure that you have staked out a place in line if the initial buyer changes their mind or loses their financing. The website notes that several things can help a backup offer succeed. First, make sure it is a real offer that runs at – or preferably above – the asking price. Also make certain that you remain in contact with the seller’s agent. You might even consider dropping a personal note to the seller themselves just to say how much you like the home.
When should you consider making a backup offer? If you are in a hurry to move, then it might be best to just give up and start exploring the other proverbial fish in the sea. You don’t want to waste valuable time pining for a house to which someone else has already laid claim.
But in these times of super-tight inventory, you may not have many other candidates to make a play on anyway so presenting a backup and then waiting to see where it goes might make sense.
Jun 29, 2017
Bigger isn’t always better and sooner or later, many Americans realize that the amount of square footage they had while raising a family of four may not suit an empty-nester.
Yet the process of “downsizing” isn’t just a reduction in space. It also means getting rid of the things you’ve collected to fill that space, a task that isn’t always easy – even for people who do it professionally. An article in St. Louis Magazine this month quoted one local estate sale company owner who noted that she asked a colleague to help her make decisions on what to toss and what to move to her new condominium despite the fact that assisting with downsizing is what she does for a living. Moreover, a lot of people are having to make those choices. According to one survey of older adults who were planning a move, more than two-fifths were shrinking their residential footprint.
What are some tips that may make the process easier?
• Find an objective eye. As the article noted, even the pros need help because it can be difficult to put aside sentiment which can make obvious choices seem far tougher than they really are.
• Don’t take it personally. Old furnishings you love may not appeal to anyone else. If no one wants to buy or even take a donation of a given piece, you may just have to accept that the rest of the world doesn’t feel as you do.
• Don’t think of it as downsizing. That term has negative connotations that can conjure images of decline and privation. Remember, you are making a positive change, not doing without. As one homeowner told St. Louis Magazine “I tell people, ‘We didn’t downsize; we right-sized.’”
• Take your time. Try not to rush the process and allow yourself to acclimate to the idea of a new living space and fewer possessions.
Jun 21, 2017
Gracious Town and Country Executive home set on 1.5 acres. 4BD/6BA/7,000SF total square feet. Abundant fresh details and appointments throughout create a modern, clean look, with soft elegance. Masonridge Elementary School. Perfect location, convenient to shops, finest dining, Straub's and Queenie Park.
Immaculately maintained home, within walking distance of most Clayton restaurants, shops, and businesses. Great curb appeal with a charming covered front porch, flagstone walkway & professional landscaping. Lower level has ground level bedroom & full bath-great for in-laws, nannies, guests while a huge rec room provides additional living space.
Jun 19, 2017
By Stafford Manion
This decision is often influenced by:
1. The Buyer’s Market.
If you are dealing with a buyer’s market, it might take a while to sell your home due to the large amount of inventory, which could result in a lower sale price than what you expected. This might cause you to sell before buying! Not to mention, the buyer will most likely want to close in 45-60 days. It will be 15-21 days before all contingencies will be removed on the sale of your home, leaving you very little time to find your new home. Renting/double move is an option, but not ideal. Because of these factors, you might want to sell your home before buying. This option offers you comfort in knowing exactly the sale price of your home, and how much you will have to spend on your new house.
The Seller’s Market.
If you are dealing with a seller’s market, it may take a while to find the house you want in such a competitive market, and you most likely will have to be aggressive with your offer. You then may be asked to close in the 45-60-day range, leaving you little time to sell your home. In this market, if your home is priced appropriately, it will most likely sell quicker. Matching the closing days of the home you’re selling, and the house you’re buying can get a bit dicey. This option may have you buying your new house without knowing exactly how much money you’ll receive out of your existing home sale.
2. Financial Capabilities of Purchaser
If a purchaser has the financial capability to own two homes (bridge loan) for a period of time, this allows them the opportunity to purchase prior to selling. The client, however, should get an honest assessment of what their existing home could sell for prior to purchasing. The flaw in this approach is the seller realizing substantially less proceeds from their existing house to put down on the new house.
3. Expectations of the Client
Prior to making the decision of which direction a client should go, an assessment should be made on both sides of the transaction. This involves getting an honest assessment of the value of their existing home, as well as investigating homes on the market available in their desired price range. If the client expects their house selling above market value or if they are not satisfied with existing homes on the market in their price range, expectations will need to discussed between the client and the agent.
Often a client's purchase is based on the difference between what they will net from the sale of their home, and what they will pay for their new home. If the sales price of their existing home goes down (net! minus commissions) and the price of their new home goes up, the delta between the two can change dramatically. An honest, seasoned agent can help with this process and decision.
Jun 15, 2017
Those hoping for another dose of information on the Centene project are in luck. Impressive new design sketches have been issued showing the planned auditorium and garage of the campus coming slowly to fruition in the bustling heart of Clayton.
Appearing on NextSTL.com, the series of artistic renderings show a 13-level garage including five below-ground tiers and an auditorium with a wavy, sloping, glassed-in exterior girdling a more angular central building which could seat as many as 1,000 patrons.
The plans are revisions representing an auditorium which has been relocated to the west of Carondelet Plaza and show changes to the garage’s façade.
“The design has more architectural heft than pasting on architectural elements or art and may meld well with the adjacent auditorium,” NextSTL’s Alex Ihnen writes of the reworked parking structure. “The south side of the garage is planned to be covered by future residential development.”
Big as they are, the structures are only one part of a larger redevelopment for Centene. The health care giant’s website said the massive $770 million multi-phase project, which includes office, retail and residential opportunities, public green space and a LEED Gold-certified structure, is expected to create 1,000 new jobs. The company estimates that the expansion would provide $31 million in extra tax revenue to the city and $56 million to the school district over the next two decades along with new shops, restaurants and infrastructure improvements.
Jun 15, 2017
There has never been a better time to sell a home.
That’s the conclusion of Fannie Mae’s most recent Home Purchase Sentiment Index (HPSI). According to a release from the government-sponsored enterprise, May’s numbers saw the net share of those who think this is a good time to put a house on the market jump by six points reaching 32 percent and setting a new record high.
It was only the second time ever that respondents who believed it was a good time to sell outpaced those saying it was a good time to buy. Those who felt it was a buyer’s market withered to a record-low 27 percent, an eight-point tumble from the previous month.
The overall HPSI edged off by half a point to 86.2 though that’s nearly a full point above where it was at this time last year.
While realty news dominated by scarce inventory has been a constant annoyance for home buyers, respondents do foresee a brighter future for them. The share of those who believe mortgage rates will come down over the coming year advanced five points while those who predict higher home prices fell by the same amount.
However, Fannie Mae’s analysis anticipates continued high prices unless supply begins to loosen.
Fannie Mae’s numbers give mixed results on the employment front with Americans indicating somewhat higher incomes but somewhat less job security.
Jun 14, 2017
Gorgeous park like setting and lush landscape make this one level home the perfect place for peaceful living. With over 3500+ square feet of living space this home boast 3 bedrooms on the main floor, 2 full baths and one half bath. Additional features include main floor laundry, gorgeous gardens, 2 car garage, 2 tier aggregate patio, sprinkler system and much more.
Be immersed in one of life's highest ambitions and experiences by selecting this exclusive property, set in the quiet and elegant grounds of The Saint Louis Country Club. Indulge in the expansive views of this renowned golf course, overlooking the 5th hole. Modern conveniences of new roof, paint, HVAC and lighting embrace the timeless tradition of a classic Saint Louis estate. Partially finished LL. Abundant parking.
Jun 11, 2017
Grandma’s beloved china may have lost some of its luster.
According to an article in the Boston Globe this month, seniors are increasingly finding that it can be difficult – or sometimes impossible – to pass down family heirlooms to a younger generation obsessed with reducing clutter. From doll collections to dish sets, retirees are finding that once-treasured hand-me-downs are now viewed less as treasured possessions and more as unwanted responsibilities by Gen Xers and Millennials who seek the simple life.
In fact, an entire field of professionals has sprung up to specialize in helping seniors as they transition from houses to condos or apartments. Part of the job is to assist in downsizing and that means finding solutions for what to do with the family silver or photo collections without bruising too many feelings in the process.
So what should you do if the kids seem disinterested in taking on a basement full of antiques?
Experts advise that sale or donation can be one route to settlement of the issue while others may work to see which family members want which items. There is also a more creative answer. You can just enjoy yourself.
“I did a downsizing talk recently and everyone asked, ‘What do I do with my crystal and china?’” recalled one senior move manager quoted in the June 4 Globe piece, “I said, ‘Drink your OJ out of it. Who cares if the gold comes off? The kids don’t want it.’”
Jun 9, 2017
This Georgian Colonial in Hampton Park has old world charm & updated for today’s living with a gated entrance. Several gathering areas-the pool & patio, deck, brick & stone patios and 1.2 acres of flat yard. 3 car attached garage. This home is a true delight!
Charming cottage-style four bedroom, four bath University City home with fantastic open floor plan and 2700+sqft provides perfect living for today's lifestyle. Walk out your front door and stroll to downtown Clayton, Delmar Loop, Award winning Forest Park, restaurants and shops or relax on your front patio with a good book.
Beautiful luxury construction in the heart of University City boasts three bedrooms, 3.5 baths w/ hardwood floors, 9-foot ceilings, crown molding, custom Millwork and an open floor plan. Finished Lower Level w/ full bath and large recreation room. Car Tuck Under Garage. Private deck to enjoy all summer long. This is a must see!
Jun 6, 2017
Could a Hollywood décor be the key to your home’s perfect motif?
An article in a recent edition of Mansion Global looked at a variety of techniques used by designers for movie and television sets to glean ideas that might be of use to interior decorators off-camera. Interviewees included savvy professionals who did work for “Will & Grace”, “The Devil Wears Prada” and “Sex and the City.” While you may not be able to turn your home into a sitcom set, there are still some tricks of the trade that can translate the magic of moviedom into real-world living space.
Among the tips from the pros…
• Look at lighting. Don’t be afraid to illuminate a space from multiple points in a room. “Lighting from above flattens and deadens a space,” observed one designer, “whereas lighting from all angles gives an object shape and volume.” Generous lighting is a mainstay of film sets since it obliterates uncomfortable shadows. Even if you don’t have tons of light you can make it appear you do with more reflective or mirrored surfaces on walls or tables.
• Bigger isn’t better. On camera, a bigger chair can make for a smaller actor. The magazine’s piece recommends that interior design should take scale into account and avoid massive couches or giant furniture that makes everything else seem tiny.
• Don’t fear the sheer. Since windows in movie sets don’t look out on the outside world, designers often employ sheer materials for drapery which allows in light but obscures the view. Adding such opacity can be a great help to anyone hoping to reduce harsh glare or block out an unwelcome view that may detract from the room as a whole. Consider sheers with patterns or colored fabrics incorporating yellow or blue rather than gleaming white.
• Get things in focus. You can make a centerpiece for a room by grouping appropriate artwork together in a given spot. Just as one might worry about what the camera sees, think about how to use sight lines to create beautiful focal points with furnishings that can be seen from key places around the room.