Jan 30, 2015
It’s an exciting time for prospective St. Louis homebuyers because mortgage rates continue their remarkable downward trend. Rates haven’t been this low for 20 months. What do low interest rates mean for you, a potential buyer? Low interest rates mean that you can buy a more expensive home, for the same monthly payment, as a less expensive home during times of higher interest rates.
To illustrate this idea, here’s an example. With a $500,000 loan and 30 year term at 3%, your monthly payment will be about $2,108. At a 6% interest rate, the monthly amount will be around $2,998, $890/month more than the 3% loan. Since the total outlay is so much less at 3%, it allows purchase of a more expensive home. Basically, instead of spending a lot of money on interest at a higher rate, the money pays down the principal at a lower rate.
Home prices have increased recently, however sustained low rates mean that homes are still reasonable, and buyers’ purchasing power remains healthy. Another positive note is that lenders are approving more mortgages today than they were just one year ago.
One more factor in the mortgage world is job growth. Job growth was over 2.5 million in 2014—great for the economy, but it may result in inflation. Mortgage rates could increase soon in response to inflation rates, which have been unnervingly low for the past few years. Since mortgage rates can and will fluctuate several times a day, it’s a good idea to lock in a low rate as soon as you’re serious about buying a home.
When you are ready to make a move on St. Louis residential property, contact Gladys Manion Real Estate by email or by phone at 314.721.4755. We look forward to making your future home a reality.
Jan 5, 2015
A national survey conducted by Bankrate.com ranked St. Louis third in home affordability among 25 of the nation's largest metro areas. Minneapolis and Atlanta were the only cities to rank above St. Louis.
To calculate these rankings, Bankrate.com compared home prices, insurance rates, and property taxes to each city's median income.
San Francisco ranked as having the lowest home affordability.
The team of St. Louis real estate experts at Gladys Manion Real Estate believe that the survey is a positive and accurate reflection of the real estate market in St. Louis. The survey shows that St. Louis is an excellent place for relocating, buying your first home, retiring or raising a family.
Interested in buying a St. Louis home?
Gladys Manion has been bringing buyers and sellers together since 1936. When you seek our services, you can rest assured that our professional real estate agents will find you the home of your dreams.
Contact Gladys Manion Real Estate today. Call us at 314.721.4755, or send us an email using our contact form.
Sep 18, 2014
Things are looking up for the St. Louis real estate market in the remainder of 2014. The team of real estate experts at Gladys Manion Real Estate has observed a number of positive trends that are covered in this 2014 real estate forecast.
According to an article by Forbes from July 2014, the real estate market during the first half of this year can be described as moving towards a more normal state. At Gladys Manion, we agree with this analysis. Market activity is growing in a positive direction based on our many successful real estate transactions in the St. Louis area.
As the market as a whole is on the up, so are home prices. For those looking to sell their home, the good news is that home prices are not stagnant. The forecast for home prices during the remainder of 2014 is that they will continue to increase as the year comes to a close, but will do so at a slow and steady rate.
If you are thinking of selling your home, we believe that now is a good time to do so, and Gladys Manion is available to help you begin the process.
Although word has spread about the current state of the marketplace being one that is favorable for the sale of homes, there is still a shortage of homes for sale in the St. Louis area. We anticipate that as the end of the year draws nearer, those looking to buy a home in the St. Louis area will have fewer options, and thus, will need the assistance of a seasoned realtor to find a home that they love.
Having fewer homes on the market is a difficult situation for buyers, as it means they must act quickly and with a strong contract. With engaged buyers, the likelihood of a home selling significantly increases.
If you are considering purchasing a luxury St. Louis home, Gladys Manion has a wide variety of home listings throughout the St. Louis area. Contact Gladys Manion to make an appointment for a home tour.
Call us at 314.721.4755, or send us an email.
Stay up-to-date on the latest St. Louis real estate news by reading the Gladys Manion real estate blog.
Aug 11, 2014
At Gladys Manion Real Estate, we are always watching the inventory of homes. We see homes that sit on the market for several months, and others that sell in a day. Buyers are still picky even with lower inventories, but people who follow the advice of their Realtor by adhering to the three Ps will have a leg up on capturing those picky buyers.
So many people want to price their homes above what comparable sales indicate. Usually, they want to leave room to negotiate but sometimes they simply believe their home can sell for more than the market dictates. Over the years, experience tells us that the best way to price a home is just a shade above what you think it will sell for. This gives you the best opportunity to create competition between those picky buyers.
As someone preparing to sell a home, shifting your perspective to that of your home as a marketable product can be enormously helpful in actualizing a successful sale.
Gladys Manion Real Estate can help you look at your home with a fresh pair of eyes. The homes that are move in ready and updated are the ones that will sell quickly. This is the time to replace worn flooring and put on a fresh coat of paint. New appliances and counters can do wonders for a kitchen that hasn’t been updated in a while. We will make suggestions on how to present the home that will be most attractive to buyers. With Gladys Manion Real Estate, once your home hits the market, its on every website, in all the local publications, delivered to all the neighbors and many other productive places to market your home. We take care of getting qualified buyers through the door but after that, it is a matter of keeping it fresh and waiting for the right buyer to come along.
The last of the three Ps, presentation is perhaps the most important. Once you have the house looking its best it’s time to focus on presenting it to the buyers over the weeks to come. The way a home looks during a showing leaves a lasting impression on potential home buyers. Either the home's presentation allows these people to envision themselves lounging before the fireplace in the living room or feeling like it needs a good dusting, vacuuming, removal of games & toys and so on. These things distract buyers from being able to see it as their future home.
Remember, you never get a 2nd chance to make a 1st impression. This really hits home with the exterior entry way. When was the last time you came into your home through the front door? Be sure to pay special attention to this area. Be sure the front door is freshly stained or painted, there are no cobwebs, and the locks and handles are in good working order. Add a pot of fresh colorful flowers to help make this a happy place from the moment they step onto the front porch. Remember to keep the lawn well-manicured, water the flowers, and rake the leaves.
First and foremost for the interior, tidy up your home for viewings by removing visual clutter. An easy way to envision what a clutter-free area should look like is using a clean hotel room yet to be occupied by guests as a model. Hotel rooms have no personal artifacts and no superfluous decorations. With that in mind, store all of those extra figurines, books, magazines, furniture, and anything else in a storage unit. It is not ideal to store these items in one of the home's closets, as home buyers do often want to look inside of closets to assess storage capacity.
As visually unappealing as clutter is during a home tour, so are things requiring repair. A prospective home buyer often does not want to inherit a long list of home repairs when purchasing a new home, as the moving process itself is already taxing. Invest in the successful sale of your home by taking care of the “honey do” list before you go to market.
Once the home is clean and free of clutter, arrange a bouquet of fresh flowers or a bowl of fresh fruit in the kitchen, dining room, bedrooms, and any other area of the house that could benefit from something bright and alive. The idea behind the fresh flowers is to make the prospective buyers feel welcome and at home.
Gladys Manion Brings Together Home Sellers & Home Buyers
Gladys Manion Real Estate has been dedicated to bringing together home buyers and sellers since 1936. When individuals and families approach our boutique real estate firm for assistance with selling their home, our professional real estate agents will advise you of everything you need to be successful using the three Ps.
Are you and your family thinking about selling your home? Contact Gladys Manion by phone at 314-721-4755, or by email, and let's get started on the three Ps.
Jun 11, 2014
As recently reported by Gladys Manion Real Estate on our real estate blog, the St. Louis residential real estate market is flourishing, and home sales are growing in the wake of the recession. With an increase in demand for homes in desirable St. Louis neighborhoods, such as Webster Groves and Kirkwood, the market has shifted to the advantage of sellers.
In early June, NewsChannel 5 in St. Louis investigated the state of the St. Louis residential real estate market, and spoke with prospective home buyers about their experiences while searching for their dream home. The NewsChannel 5 reporter concluded that demand for homes is up, making competition for prospective home buyers a challenge, as each buyer bids on what is, in proportion to demand, a limited number of homes for sale.
However, competition need not hinder prospective home buyers from exploring the market. Since 1936, Gladys Manion has proudly provided personalized and highly attentive services to home buyers. Throughout our many years of closely working with buyers and sellers, Gladys Manion has developed an expert knowledge of the local luxury residential real estate market that allows our real estate brokers to, time and again, conduct successful transactions.
If you and your family are considering buying or selling a St. Louis home, depend upon Gladys Manion for a professional and, on your part, effortless experience. You can discuss buying or selling a home today by contacting Gladys Manion by phone at 314.721.4755, or by sending us an email.
Apr 17, 2014
The St. Louis luxury home market is thriving. Sales of these homes steadily declined following the 2008 recession but have since seen a significant increase. St. Louis County has recorded the highest number of luxury home sales in the past five years, with St. Charles County also experiencing an uptick. Demand for these homes has been simultaneously met with an increase in sale prices. The average sales price in Ladue for example jumped 37%. This is not a price increase for individual homes but an average sales price increase which indicates the higher priced homes are selling at a much faster rate.
Gladys Manion Real Estate is the leader in St. Louis luxury residential real estate with a long history of the highest average sales price in the entire St. Louis Metropolitan Area.
According to a recent article published by the St. Louis Post-Dispatch in late March, the median sale price for luxury residential real estate rose to $1.35 million from $1.29 million between 2010 and 2013. Our team of brokers is very encouraged by this recent report on the state of the market. It confirms that St. Louis and the surrounding area are thriving, continuing to make this an attractive community.
Browse current listings of luxury St. Louis homes available through Gladys Manion today, and contact one of our real estate brokers for additional information on St. Louis neighborhoods, school districts, lifestyle, and more.
Gladys Manion Realtors can be reached by phone at 314.721.4755, or by email.
Mar 13, 2014
The answer to the question of whether it is less expensive to buy or rent a home, at least in St. Louis, is that it is currently less expensive to buy a home. This finding was recently published in a report by the chief economist at Trulia. In fact, buying a home in St. Louis is a 54% savings over renting, an estimate that bests the national average by 16%.
In its list of the top ten U.S. cities where buying a home is a safe financial investment, Trulia ranked St. Louis as number ten, with Detroit, Michigan topping the list followed by Gary, Indiana and Birmingham, Alabama.
With jumbo mortgage rates at their lowest in over two decades and continuing to remain lower than conventional rates, as well as Trulia's recent analysis pointing towards buying, the team of St. Louis residential real estate experts at Gladys Manion Real Estate believes that there could not be a better time than now to begin exploring homes for sale in and around St. Louis.
With the attentive and personalized assistance of the firm's president, Stafford Manion, and the rest of the dedicated team at Gladys Manion Real Estate, find out why they are the experts in St. Louis Luxury Real Estate. Explore St. Louis neighborhoods, and learn more about homes for sale in St. Louis' Central Corridor; The Central West End, Clayton, University City, Ladue, Frontenac, Huntleigh, Town & Country, Creve Coeur, Warson Woods, Kirkwood and Webster Groves.
Contact Gladys Manion Real Estate for more information about buying a home in St. Louis. We enjoy answering your questions, and providing you with additional information on the local real estate market. Call Gladys Manion at 314.721.4755, or send us an email.
Feb 21, 2014
The mortgage market is making a resurgence, at least as it concerns jumbo loans. According to an article published earlier this month by CNN, jumbo mortgages have fallen to percentages that have been unseen for a span of over two decades. Jumbo mortgages are large loans of over $400,000.
As these lower mortgage rates indicate, large national banks, such as Wells Fargo and Bank of America, are improving their efforts to connect with those customers who have healthy credit histories, as these individuals are most likely to sign onto a jumbo mortgage agreement.
Here at Gladys Manion Real Estate, we believe that if you and your family are in the market to buy a home in St. Louis, there is no better time than the present. Take advantage of low jumbo mortgage rates, and begin exploring homes for sale in and around St. Louis with the assistance of one of our local real estate professionals. Gladys Manion specializes in luxury St. Louis homes in the Central West End, Clayton, Ladue, Frontenac, Town and Country, Webster Groves, and many other St. Louis neighborhoods.
For families looking to relocate to the St. Louis area, depend upon Gladys Manion for unparalleled assistance throughout the entire moving process. As we work with an extended network of global relocation partners, we work diligently to ensure that your relocation is simple and easy no matter where you currently call home.
Find out more about homes for sale in St. Louis and our relocation services by contacting Gladys Manion by phone at 314.721.4755, or send us an email.
Feb 7, 2014
The U.S. Federal Reserve Board's final Beige Book report of 2013 noted signs of improvement for the eighth district, which includes St. Louis, in addition to Louisville, Memphis, and Little Rock. The report reviews the state of the economy district by district eight times per year. For the eighth district, the Beige Book was primarily positive in its review of year end market activity, especially as it pertained to the St. Louis real estate market.
In reviewing the St. Louis real estate market, the Federal Reserve Board documented significant growth. In fact, St. Louis home sales increased by five percent in November 2013 compared to the same month in 2012.
For the Gladys Manion Real Estate team, who are not only St. Louis residential real estate experts, but also proud residents, reading about such findings from the Federal Reserve Board is welcome news as the U.S. economy continues its steady economic recovery. According to Gladys Manion owner and broker, Stafford Manion, the home sales transacted by Gladys Manion in 2013 align with the Beige Book economic findings on positive residential market growth in St. Louis.
Read the Gladys Manion Real Estate Blog for the latest St. Louis residential real estate news.
If you and your family are considering a move to St. Louis, explore our St. Louis Relocation Guide and browse our current Luxury Listings to find your ideal home and learn about our neighborhoods and lifestyle.
Jan 24, 2014
Looking to the year ahead, the Gladys Manion Real Estate team has an optimistic outlook for the future of the St. Louis real estate market after a strong recovery in 2013. After weathering the recession, 2013 stands as the year that St. Louis residential real estate significantly rebounded with a marked increase in home sales compared to the last five years. We expect moderate appreciation to follow.
According to a recent article in St. Louis Today, residential real estate, compared to commercial real estate, showed more positive activity, especially in the sale of luxury homes. As the real estate market experienced a surge in home sales, home prices also saw a positive spike, both of which are indicative of the market heading the right direction as 2014 begins.
Gladys Manion is happy to report that in 2013, our boutique residential real estate firm had a record year and closed on many St. Louis luxury homes. In 2014, we hope to continue this positive growth in home sales.
As the local St. Louis residential real estate experts, Gladys Manion has been assisting families in buying and selling homes in and around St. Louis since 1936. If you and your family are considering a move in the future, depend upon Gladys Manion to assist you in discovering your perfect home and efficiently handling the sale of your existing home.
Contact Gladys Manion today for additional information on our St. Louis luxury home listings by calling 314.721.4755. All inquiries are handled with the utmost in confidentiality.