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Saint Louis, MO Real Estate News

By Tim Tanz, St Louis Real Estate
(Platinum Realty)
A new construction townhome (3327 Gustine, 63116) was recorded as "SOLD" in the MLS last week.  It's located at the corner of McDonald and Gustine in Tower Grove South, the neighborhood in which I live.  This is exciting, as I have been watching the progress on this one since last autumn - it was listed as Pending since September 13, 2007.  It was listed at $319,900 and sold for $324,500.  The sales had slowed in the neighborhood, so hopefully this will get things moving again...This was a 6 room, 3 bedroom, 2.5 bath, 2 car garage townhome - certified "Green" construction - meaning a home that was constructed to save on utilities, be healthier and more comfortable to live in, need less maintenance, and be better for the environment.  The company that built the home is Sage Homebuilders ...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
It was downright warm today.  I broke down and used the air conditioning in the car on the way to an appointment - I didn't want to sweat through my shirt.  Don't get me wrong, I love warm weather, but today seemed more like early summer than spring...This evening before dark I tried to work in the front flower beds for a while, but the mosquitos are already out and were chewing me to pieces - and it's just April.  I hoped with the cold winter we had would have killed many of them off, but no such luck.  Off to the store to get mosquito repellant - they're not keeping out of my yard...I've had a productive last few days.  I got two accepted contracts over the weekend - one with a buyer and the other, my listing at 3881 McDonald Ave. (www.3881McDonaldAve.com).  Then, tonight, I got anoth...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
I went on a listing appointment this evening, and I knew the seller would have questions about my sales career in real estate; so this afternoon I sat down and compiled a list of all the homes I have sold since I became a Realtor in 1997.  I've been wanting to do this for a while, to include in my listing packet; today seemed as good a day as any to work on it.  So, here is the list:2008:1946 San Miguel Ct, Fenton MO 63026 - $155,000 - Buyer3418 Grace Ave, St Louis MO 63116 - $138,000 - Buyer4647 Ray Ave, St Louis MO 63116 - $115,000 - Buyer2007:4148 Wyoming St, St Louis MO 63116 - $38,500 - Seller3501 Big Bear Ct, Wentzville MO 63385 - $212,500 - Buyer2546 Coppergate Square, Unit E, St Louis MO 63129 - $102,000 - Seller3841 Potomac St, St Louis MO 63116 - $120,000 - Seller4108 Wyoming ...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
This evening we went bike riding over at Horseshoe Lake in Illinois.  It's just right across the Mississippi River from St Louis.  We're just getting into the biking thing, and I don't really like it when the trails are overcrowded.  It was great.  We passed people fishing on the lake, but the bike trail wasn't heavily travelled this evening.  It's a fairly flat trail, too, so it was a nice ride.  We travelled over 10 miles in a little over an hour.  My legs weren't as tired as my rear end - and we've got padded seats, too...The trail we rode on is part of the Madison County Transit Trails system, composing more than 85 miles of scenic Madison County Bikeways.  The trails are connected in seven bikeway loops, ranging in distance from 10 miles, 15.3 miles, 25.7 miles, 17,6 miles, 26.1 mi...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
The following article was provided by Dennis Horman, Senior Mortgage Consultant with Fidelity Mortgage Capital:"First quarter of 2008 for Citigroup, results in $5.1 billion loss after hefty write-downs.During the first quarter Citigroup, Inc. lost $5.1 billion and will eliminate 9,000 more jobs.The write downs related to mortgages and turmoil in the credit markets reached approximately $12 billion, and costs stemming from consumers' credit problems passed the $3 billion mark.  Gary Crittenden the chief financial officer said that in seeking to cut costs, the company is eliminating about 9,000 additional jobs, bringing there total job cuts to about 13,200 since the first of 2008.This latest shortfall at the nation's largest bank by assets was not as massive as the nearly $10 billion it l...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Yesterday, Saturday April 19, was a milestone in our lives.  We celebrated our anniversary of 17 years together.  I know many people don't want to hear about it - a gay couple celebrating their anniversary -  but I am proud that Dennis and I have made it this long.  And part of blogging is letting others know what is going on in our lives...  We have made it longer than any of the "straight" marriages of any of our siblings.  It hasn't always been easy either, we struggle at times like any other couple, but we're still here.  We like to joke that no one else would put up with either one of us, so we're stuck with each other; but in reality, I think we both have it pretty good...We went to dinner with our friends Rick and Jerry last night.  We went to Mama Campisi's Restaurante on the Hi...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Following is the Weekly Condo/Loft Market Report for the City of St Louis.  These statistics were gathered from the local Multiple Listing Service:There are 859 total Active listings.37 listings Sold in the last 30 days.The average Days on Market (DOM) was 197.There were 33 new Active listings on the market this past week, with List prices ranging from $35,000 to $535,000.10 listings went under contract (Contingent/Option), with List prices ranging from $157,000 to $469,900.17 listings went Pending, with List prices ranging from $12,000 to $451,900.6 listings Sold, with Sold prices ranging from $95,000 to $401,500.8 listings Expired, with List prices ranging from $139,999 to $535,000.5 listings went Inactive (Cancelled/Withdrawn), with List prices ranging from $75,000 to $312,900.The Pe...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Following is the weekly Single Family Home Market Report for the City of St Louis (Areas 1,2,3).  These statistics were gathered from the local Multiple Listing Service:There are 1827 total Active listings on the market.178 listings Sold in the last 30 days.The average days on the market (DOM) was 115.There are 122 new Active listings this past week, with List prices ranging from $11,500 to $1,389,000.36 listings went under contract (Contingent/Option), with List prices ranging from $30,000 to $939,000.76 listings went Pending, with List prices ranging from $9,900 to $339,900.44 listings Sold, with Sold prices ranging from $5,500 to $405,000.51 listings Expired, with List prices ranging from $17,400 to $698,900.And 30 listings went Inactive (Cancelled/Withdrawn), with List prices rangin...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
This weekend hosts the Grand South Grand House and Garden Tour.  It is being held from 11 am to 5 pm on Saturday and Sunday.  This tour features homes in the Compton Heights, Tower Grove East, Shaw, Tower Grove Heights and Compton Hill Reservoir Square neighborhoods.  Tickets are $15 in advance and $18 the day of the tour.  Tickets can be purchased at Gringo Jones Imports, Botanicals Design Studio, the Missouri Botanical Garden's Garden Gate Gift Shop or over the phone at 314-773-4844.  Tours will begin in Tower Grove Park at the South Grand Boulevard Entrance.  The Compton Hill Water Tower will also be open with an admission fee of $5.  This goes towards maintenance of Resevoir Park.A highlight of the tour will be the century-old Magic Chef Mansion at 3400 Russell Blvd., which features...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
The dreaded tax day has come and gone.  I find it interesting that some people (like me) worry about getting everything turned in on time and paying what's owed while others don't file at all.  I had a closing last week with a buyer who hadn't filed his last three years of taxes.  In order to close on the deal, he had to cash out stock and pay cash for the home.  He couldn't understand why he couldn't get a loan, and he wasn't willing to get his taxes completed.  I guess his capital gains penalty wasn't as much as the taxes he owed.  If I don't pay my taxes (especially Missouri Income taxes) I will lose my real estate license.  It must be nice to have that much money that you have to constantly think of ways to hide it from the IRS...  I'll stay poor and honest.What a beautiful day, tho...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
The following comes from a loan officer friend of mine:Washington Mutual makes big announcement!!On Tuesday, Washington Mutual announced it is closing all 184 of it stand alone home loan centers across the country.  In the process they will lay off 3,000 employees.  They will also stop making loans through mortgage brokers and focus their efforts on the 2,500 bank and small lending centers they have.At the same time Washington Mutual, the largest US Savings and Loan, got a $7 billion dollar infusion from a group of investors led by David Bonderman's TPG Inc.  They got this after loses from the Sub Prime market ate up their capital and erased 74% of their market value.Washington Mutual reported losing $1.1 billion dollars in the first quarter of 2008.Keep watching - we will keep you upda...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Following is the weekly market report for single family residential homes in the city of St Louis (Areas 1,2,3).  These statistics were gathered from the local Multiple Listing Service:We had 845 total Active listings.41 listings Sold in the past 30 days.Our average days on market (DOM) was 164.There were 60 new Active listings on the market, with List prices ranging from $44,900 to $575,000.9 listings went under contract (Contingent/Option), with List prices ranging from $149,900 to $337,500.16 listings went Pending, with List prices ranging from $79,900 to $395,000.Only 6 listings Sold, with Sold prices ranging from $65,589 to $317,000.50 listings Expired, with List prices ranging from $107,000 to $669,900.And 21 listings went Inactive (Cancelled/Withdrawn), with List prices ranging f...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Following is the weekly market report for single family residential homes in the city of St Louis (Areas 1,2,3).  These statistics were gathered from the local Multiple Listing Service:We have 1803 total Active listings.179 listings Sold in the last 30 days.Our average days on market (DOM) is 116.There were 148 new Active listings, with List prices ranging from $19,000 to $1,899,000.43 listings went under contact (Contingent/Option), with List prices ranging from $24,900 to $465,000.81 listings went Pending, with List prices ranging from $14,900 to $430,000.35 listings Sold, with Sold prices ranging from $8,500 to $359,450.57 listings Expired, with List prices ranging from $18,000 to $2,195,000.And, finally, 33 listings went Inactive (Withdrawn/Cancelled), with List prices ranging from ...
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By Alicia Sierra
(Hermann London)
 So often as Realtors we meet would-be homebuyers at Open Houses, the browsers, the window shoppers ... they do a lot of looking. And that is about it. What keeps them looking, but keeps them from buying?  My theory:  fear.  Fear of buyers' remorse.  Fear of feeling ripped-off after the fact.  Fear of making the wrong decision after so much careful contemplation.Well, you window shoppers, there is something that keeps you looking, some desire in there to actually become a homeowner.   So, ask yourselves, is there a point in time at which your regret is NOT buying?  ... is it 1 year from now, 5 years from now?  Perhaps the real fear is of the unknown.  So take a little time to inform yourselves.  Hud offers a wealth of information:   http://www.hud.gov/buyingKnow what to expect from a pr...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
We've just secured a price adjustment on my listing at 3406 Dunnica Ave.  We are now listed at $74,900.  In addition to paying for a home warranty, the seller is also including the washer and dryer, and the lawnmower.  For more information on this cute home located a block from Keystone Place, and new construction, please visit:  www.3406DunnicaAve.com.On another note, I'm still trying to get my deal on San Miguel to close.  It was supposed to close last Friday, then tomorrow; now we're shooting for this Friday.  All I can say is the sellers have been very patient with us so far.  The listing agent has been very professional, too, so far.  God, I just want to get this one closed...I got a call from a supposed friend this afternoon.  We (or I) had planned to list his home this spring, bu...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Following is the weekly market report for single family homes in the City of St Louis (areas 1,2,3).  These statistics were gathered from the local Multiple Listing Service:There were 831 total Active lisings on the market.  The average days on market was 209.There were 26 new Active listings on the market, with List prices ranging from $99,000 to $539,000.11 listings went under contract (Contingent/Option), with List prices ranging from $129,900 to $324,900.16 listings went Pending, with List prices ranging from $19,900 to $878,000.15 listings Sold, with Sold prices ranging from $85,000 to $567,500.27 listings Expired, with List prices ranging from $79,900 to $445,000.And, finally, 14 listings went Inactive  (Cancelled/Withdrawn), with List prices ranging from $83,400 to $209,900.The p...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Following is the weekly market report for single family homes in the City of St Louis (areas 1,2,3).  These statistics were gathered from the local Multiple Listing Service:There were 1773 total active listings on the market.  Our average days on market is 117.There were 147 new active listings, with List prices ranging from $9,900 to $899,900.31 listings went under contract (Contingent/Option), with List prices ranging from $29,900 to $430,000.60 listings went Pending, with List prices ranging from $8,000 to $425,000.61 listings Sold, with Sold prices ranging from $7,200 to $616,900.145 listings Expired, with List prices ranging from $9,900 to $1,295,000.And, finally, 21 listings went Inactive, with List prices ranging from $49,900 to $659,000.The pending ratio, which is the number of ...
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By Debi Ernst, GRI, e-PRO, Broker/Sales Associate
(St. Charles County, Missouri - Prudential Alliance Realtors)
I don't know about anywhere else, but St. Louis, MO broke a 100 year record in rainfall last March!  The normal amount of rain for the month of March is under 4 inches.  We received over 8 inches in March this year!  Wow!  What a soggy mess!  Let me tell you, we were so thankful to see the sunshine yesterday and today!  The temperature was in the 60's both days.  You never know what a blessing the sun is until you don't see it for a few days.  :)  Well, I hear there's more rain on the way next week.  Maybe the weather guys will be wrong this time...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
In our March 26 Mastermind class we discussed the 5th attitude of a high achiever, from the Keller Williams Power Perspectives Session.  This fifth attitude is: removing limiting beliefs.  High achievers constantly work to reduce/overcome their limiting beliefs.  Just because they have a fear of something, they do not let that fear stop them.  They practice and work on overcoming the fear until it is no longer so stressful/fearful.  The acronym FEAR stands for False Evidence Appearing Real.  It's OK to have a fear of something; we all fear different things.  Fear just means that you care about the outcome.  Overcoming these limiting beliefs can lead us to higher levels of possibility and achievement.This was pretty powerful to me.  I constantly have to deal with my limiting beliefs.  Fo...
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