Saint Louis, MO Real Estate News

By Tim Tanz, St Louis Real Estate
(Platinum Realty)
I just wanted to take a moment to wish Mom Horman a Happy 80th Birthday.  I also wanted to pay tribute to this amazing woman.  We are celebrating her birthday this Sunday, but her actual birthday is Tuesday, May 22.  Her children and grandchildren have been planning the event for months.  It's supposed to be a "surprise".  If we pull it off, I'll be "surprised."  She has raised seven children, has fourteen living grandchildren, and twenty-one great-grandchildren.  She is a two-time cancer surviver, who lives with a colostomy.  This spring, after a heart scare, she received a pace-maker.  She is doing great - her energy has returned, and she's busy around the house again.  We're afraid she will overdo it...Her will to persevere is amazing.  She just keeps going...I remember when she was ...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
It's the season for graduations.  We have five of them in the family - four from high school and one from nursing school.  We are attending only one of the ceremonies, but everyone will get cards and cash.  I need to get them in the mail....I loved the saying in one of the cards.  It applies to all of us, not just the graduates:"Whatever you dream, dream with all your heart - Whatever you try, try with all your heart - and happiness will be yours."It makes me feel old.  I was there when Dustin, my nephew, was born.  I changed his diapers and babysat him.  Now, he's graduating high school already.  Where did the time go?  I was disappointed when I heard the news he was not going to attend college.  He had a scholarship that would pay for the first two years of classes, and he had already...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Well, I got word today that I didn't get the listing on Alfred.  The seller's reason was that my evaluation of the list price for their home was too low.  I told them they needed to be around $130,000 or less.  They are being relocated, and acted like they wanted a quick sale...I thought the comparables supported this list price.  The home is west of Morganford, which is not as desirable an area as homes east of Morganford (Tower Grove South).  Two bedroom homes in our neighborhood - east of Morganford - have sold for $130,000 or less this past year.  It is a nice home, but it has only five rooms, windows are still original, no power to the garage, older kitchen cabinets (painted).  I am going to be interested to see the list price once it comes on the market.  I would have liked to hav...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Normally, I try to break up my listing appointments into two meetings.  The first meeting is to just meet the potential clients and build repport, walk through the house, see for myself the condition and ammenities, and take notes.  On the second appointment, I present my listing presentation, my marketing plan, and the comparative market analysis of the property.  This week, I did it a little differently.  I had gotten particulars from the seller over the phone, so I ran comps before the appointment.  During the appointment, I met the sellers, walked the house, took notes, and took some pictures for the virtual tour (I put it together on www.realestateshows.com and emailed it to them the following day).  I did go over pricing on this visit, and presented the comparables to them.  I tol...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Thank goodness it's Friday.  No reason, really, just glad it's the weekend... It rained again today, so no yard work was done.  I got the landscaping planted at the first Miami property, but it began raining before I could get started on the property across the street.  It poured yesterday afternoon.  No winds, but lightning, thunder and buckets of rain.  We've been sweeping water out the back door of the basement.  I'll finish planting this next week and then begin the mulching.  Thank goodness they have piles of free mulch for anyone to take at Carondelet Park.  Between the rental properties and home, it will take at least three truckloads...Following are this week's real estate market statistics for the city of St. Louis (Areas 1,2,3).  Statistics are gathered from the local Multiple...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
I facilitated a KWU class last week on "Buyer Mastery - Succeecing in a Buyer's Market."  We covered some buyer "myths and truths" that exist in today's market:Buyer Myth 1:  "I can take my time because I have all these choices."Truth:  In any market, the best properties go quickly.  Act on these properties, or you are left with the second tier homes.  "If the home of your dreams came along today, are you prepared to buy it?"Buyer Myth 2:  "Prices or interest rates may go down."Truth:  No one can predict the market. "You are right, prices may go down, and there is no way to predict it.  However, interest rates may go up.  Do you want to gamble on the future?"Buyer Myth 3:  "There are no benefits to signing a Buyer's Representation Agreement."Truth:  A Buyer's Representation Agreement as...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
I have a clipping on the board above my desk.  I believe it's from an old Ann Landers column.  I try to read it regularly, as it reminds me to be thankful for the many blessings I have received:"If you woke up this morning with more health than illness... you are more blessed than the million who will not survive the week.If you have never experienced the danger of battle, the loneliness of imprisonment, the agony of torture, or the pangs of starvation... you are ahead of 500 million people in the world.If you can attend a church meeting without fear of harassment, arrest, torture or death... you are more blessed than three billion people in the world.If you have food in the refrigerator, clothes on your back, a roof overhead and a place to sleep... you are richer than 75% of this world...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Last week I posted that I was checking out different virtual tour sites.  I have tried out http://www.realestateshows/ and love it.  Normally, the price to join was $125, but Jeff Turner, president of the company, responded and let me know that for members of Activerain the cost was only $99.95.  Visit this link to sign up with the discount:  http://create.realestateshows.com/newuser/index.php?agencyID=11I've since created a virtual tour of one of my listings (4108 Wyoming St).  It was so easy to do.  I first watched the short tutorial videos, and within 15 minutes (I'm slow) I had set up the tour.  See it here:  http://www.realestateshows.com/161191One suggestion I received was to take my digital camera with my on a pre-listing appointment.  Shoot five pictures while your going through...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
We have a clear occupancy inspection on the Wyoming listing!  I met the inspector there this morning.  After a ten minute walk-thu, he said everything looks fine and said the certificate would be in the mail.  I knew this would be an easy one.  I installed three smoke detectors and three GFCI outlets this last week.  There was no pealing paint or falling plaster.  Even though the house is dated, it is very clean, and that did make a difference.  So, we've taken care of another step in the process.  I have a good working relationship with this inspector.  He inspected my house during the rehab, and since I work pretty heavily in the Tower Grove South neighborhood, which is his area, we see each other fairly often.  He knows the quality of work I do personally, and knows I follow the rule...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Just got back from visiting some friends who live in Lake Saint Louis.  It's beautiful out there, but quite a drive from the city.  They have a large front yard that slopes fairly steeply down to the street.  It is terraced somewhat, but pretty overgrown.  They were wanting my opinion on how to landscape the area.  I love planting and laying out landscaping.  I work by trial and error, though, and move things around every year.  Their yard is somewhat overwhelming.  I suggested first getting rid of the overgrown plants/weeds, trimming what they want to keep, and mulch, mulch, mulch.  If they don't plant anything else, just mulching the terraces will make it look 100% better...  That's what I did all day today in my garden.  I took the day off so I could concentrate on getting hostas div...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Here are the weekly market statisticss for the city of St. Louis.  The information was gathered from the local multiple listing service:There were 125 active listings.  Prices ranged from $17,900 to $1,295,000.There were 40 contingent/option listings.  Prices ranged from $24,000 to $589,000.There were 84 pending listings.  Prices ranged from $13,000 to $570,000.There were 89 sold properties.  Prices ranged from $30,000 to $570,000.There were 127 properties that expired.  Prices ranged from $16,900 to $624,000.There were 31 withdrawn listings.  Prices ranged from $85,000 to $389,900.I am hosting a public open house tomorrow (Sunday) at 4108 Wyoming Street, from 1 to 3 pm.  This is a very nice 4 bedroom, 1.5 bath home in Tower Grove South, just 4 blocks south of Tower Grove Park.  This on...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Just came back from doing some work on the Wyoming listing.  The occupancy inspection is on Tuesday, and I wanted to be ready for him.  I installed three smoke detectors and three gfci outlets.  The seller is elderly and wouldn't be able to do it.  It didn't take that long to do, and she appreciated it.  I know some will say that is not the listing agent's job, and I agree.  I usually don't do that for sellers; but sometimes I feel that little extra can make a big impression on our clients.I attended a class this afternoon at the Keller Williams Southwest office.  It was one of four new classes released by KWU (Keller Williams University) that are designed to take our businesses to the next level.  Today's class was titled: "Buyer Mastery - Succeeding in a Buyer's Market".  This class w...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Yesterday I facilitated a class at our Keller Williams Southwest office.  This was one class out of a seventeen session series called:  "Priciples of Lead Generation and Prospecting to Grow Your Business".   These classes are held on Tuesdays and Thursdays from 12:00 - 1:30 pm.  My class was on "Chapter 5: Prospecting Events".  The class covered how to prospect open houses, how to use client parties to generate repeat and referral business, how to prospect by hosting seminars, how to prospect social functions and community events, and how to prospect our inner circles with personal meetings.  What is so great about these and all classes at Keller Williams Realty is that everyone is welcome to attend, even Realtors from other companies.  Not only are we Keller Williams Realtors becoming ...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
I wanted to share some more from the seminar I attended last week.  It was a seminar on the Foreclosure market, sponsored by the Wealth Intelligence Academy.  The classes were Thursday, Friday, and Saturday.  I thought the seminar was informative, even though we knew it was a teaser seminar to get you to enroll in the main training.  At the end of the day on Friday, the presenter gave the prices for the different advanced training packages..... Well, needless to say, we didn't sign up.  There were eight different packages ranging from $8990 through $63,990.  The second cheapest package (the one we would have probably chosed) was $13,990.  We didn't go back on Saturday.  We knew we were not going to sign up, and they would be trying to sell us the entire day.  I do not have $14,000 just ...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
It's been a long weekend.  Friday evening, my lower back began to hurt. By late in the evening, I could hardly move.  Saturday, I was bed-ridden for most of the day.  When I was able to pull myself out of bed, walking was horrible, and I had to crawl up and down the steps.  I alternated from submerging myelf in the bathtub to ice packs on my back.  Yesterday was somewhat better; I could at least walk slowly.  Any jolt was unbearable, though.  I did ride along down to Bayer's Greenhouses with Kim, Gary and Dennis.  I just couldn't stay inside any longer.  The weather was too nice, and you can lie in bed for only so long.  It was the annual plant shopping trip, and I wasn't going to miss it.  I didn't enjoy it, though.  I went to the doctor this morning.  He thinks it's just a pulled musc...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
It's chilly again.  We had rainshowers today, and a cold front came through.  The attic fan will not run tonight....We are in a three-day seminar, today being the first day.  We also go tomorrow and all day Saturday.  This seminar is just the teaser; they want you to take the specialized classes later.  Regardless, I'm getting a lot of information.  Some of the points I wanted to share:The acronym - GREATG-getR-reallyE-excited A-aboutT-today-The number one rule in creating wealth is financial independence.-There are three type of income:  1. Earned Income - you have to work to get money - job  2. Passive Residual Income - do the work once, and then get paid over and over  3. Portfolio Income - use your assets to make you more money - your money makes money-Stop taking advice from people...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
Just got a call from an agent telling me he is going to get together with his clients around 10:00 pm tonight to write an offer on my Alberta listing.  I'm in classes all day tomorrow, Friday, and Saturday, so I will have to present it in the evening.  Not too bad for being on the market for only a week....I spent this past Thursday, Friday and Saturday showing condos and lofts in the Central West End and Downtown St Louis.  I hadn't done very much in the condo market last year, so this was a treat to see what is out there right now.  The lofts blew me away.  St Louis has some great developments under way, both in the Central West End and Downtown.  I was especially impressed with the Crown Loft Condominiums at Boyle and Laclede in the Central West End.  This building houses 36 units, m...
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By Tim Tanz, St Louis Real Estate
(Platinum Realty)
We had our bi-weekly office meeting today.  Usually, our meetings are followed by a presentation on various topics related to sales or real estate.  Today, the topic was Negotiating for Realtors. I wanted to share some hightlights:1. Keep your emotions out of it.  Always be the steady and stable one for your clients.2. Don't lose sight of the goal - the goal is a signed contract.3. Use technology to your advantage.  Negotiate via fax and phone.  Don't negotiate through email.4. Control what you say.  There is no room for drama and emotion.5. Keep your commission out of it.6. Continually refer back to the client's motivation.  This is an important point.  What's most important to them?7. Win-Win or No Deal.8. Don't be afraid to ask.9. Don't burn bridges.  A very important point.  You wan...
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By R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham, Bob Mitchell (NMLS#1046286)
(Bank of England (NMLS#418481))
Last night I went to one of my best friend's father's 73rd birthday party (A shout out to Big Jay Hudson!  Happy Birthday!).  Anyway, I've been buddies with "Little" Jay Hudson since I was in 2nd grade and over the years have gotten to know their family very well.  From the yearly birthday parties and from other events I have had the privilege of getting to know the aunts and uncles and cousins almost as if they were my own kin.So, last night my girlfriend and I drove up to North St. Louis city from our home in suburban Oakville to attend the party.  We were greeted with hugs and welcomes that were no different that the hugs that were given out to any of the cousins.  We hooped and hollered and caught up what all had transpired since the last time that we had seen one another.  Grandma ...
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By R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham, Bob Mitchell (NMLS#1046286)
(Bank of England (NMLS#418481))
My search for an eclecical restaurant in St. Louis is coming along well enough that I thought that I would try another one to get St. Louisians to comment on.  In this post, I'm asking you what was the "Weirdest" thing that you've ever seen in St. Louis?In order to start things off I'll list a couple of things that I have seen.1)  A full-grown man dressed in a majorette costume high stepping down the middle of a street in the Central West End.2)  A burning hulk of a jet airliner in the middle of a downtown intersection at about 3 AM (it was a set for the movie Escape From New York)3)  A cow standing in the grass eating peacefully along North Broadway just north of downtown. There's a start....what have you guys seen? R.B. "Bob" MitchellValueList Real Estate Services, Inc. 
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