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Saint Peters, MO Real Estate News

By Mark Seltzer
(retired)
Todays Interest Rates are right around 6% or a tad bit less, depending on the loan type, ( purchase, re-fi or cash-out ) terms, LTV and downpayment. Remember, sometimes rates change multipul times during a single day so you can never quote an exact interest rate amount. The only way you can verify an exact amount is to lock a loan. Please see my previous editorials or Blogs about: APR, also Advertised Mortgage rates, or as always check out www.markalkaseltzer.com for TONS of mortgage information. Have a happy Day...   Mark
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By Mark Seltzer
(retired)
A FHA 203 (k) loan is known as a rehabber loan. What is cool about these types of loans is that a buyer can get the necessary funds to rehab or REMODEL a single family home. The home must be owner occupied and be a 1 to 4 family structure. Basically, here is how they work: You buy a house for $150,000.00 that needs updating and a deck. Once completed, the home would have a value of 210,000.00. The buyer needs $20,000.00 to complete the work. Here is whats great about these loans... With a FHA 203 K loan the buyer gets a mortgage for $170,000.00 at market rate say 6%, the seller is paid his share of $150,000.00 and the buyer gets $20,000.00 to make the necessary repairs!!! These loans are great and can be used to refinance and do home improvement of EXISTING homes, maybe even yours!!! Co...
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By Mark Seltzer
(retired)
People are always asking what the APR of a loan is... I call it the ACTUAL Percentage Rate, it is technically the Annual Percentage Rate. When checking loans for your clients make sure the APR is close to the percentage rate of the note. It there is a large discrepancy between the two then the lender or loan officer has tacked on a bunch of fees and stuff to the loan. The Definition of APR is: A yearly percentage rate that expresses the total finance charge on a loan over its entire term. The APR includes the interest rate, fees, points and mortgage insurance, The APR is therefore a more complete measure of a loans cost than just stating the interest rate alone. Please feel free to contact me for more information on the subject...     Mark
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By Mark Seltzer
(retired)
This one is Sooo politically correct!! Enjoy... While walking down the street one day a US senator is tragically hit by > a truck and dies.> > His soul arrives in heaven and is met by St. Peter at the entrance.> > "Welcome to heaven," says St. Peter. "Before you settle in, it > seems there is a problem. We seldom see a high official around these > parts, you see, so we're not sure what to do with you."> > "No problem, just let me in," says the man.> > "Well, I'd like to, but I have orders from higher up. What we'll do is > have you spend one day in hell and one in heaven. Then you can choose > where to spend eternity."> > "Really, I've made up my mind. I want to be in heaven," says the senator.> > "I'm sorry, but we have our rules."> > And with that, St. Peter escorts him to the elevato...
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By Mark Seltzer
(retired)
Hello! Well the media keeps telling us about the doom and gloom in the market. Here is St. Peters, the market is great! If a house is priced correctly and had the correct work done to it PRIOR to listing IT SELLS!!! Interest rates are great right now and will fluctuate ( daily) around 6% through the spring and hopefully the summer months too. It is only first of Feb and I am getting crazy busy with buyers and sellers! So, if you are looking to sell GREAT, buyers are looking... If you are buying you have a nice selection and rates are GREAT!
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By Mark Seltzer
(retired)
It is 12:00 CST and I predict A: Rates go down today and B: the reason rate sheet are not out yet is that rates are going down today (lower apr for our clients). but the banks want us to use the older and higher rate when pricing loans today, then the banks make more money.
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By Mark Seltzer
(retired)
Hope you like it!Go get a kleenex to whipe away the tears before you read this one...      A Cardinal fan liked to amuse himself by scaring    every Cubs fan he saw strutting down the street in an obnoxious Cubs jersey. He would swerve his van as if to hit them, then swerves back just missing them. One day while driving, he saw a priest walking along the road.He thought he would do a good deed, so he pulled over and asked>>  the priest, "Where are you going, Father?">>  "I'm going to give Mass at St. Francis church, about>>  two miles down the road," replied the priest.>>  "Climb in, Father. I'll give you a lift!" The priest>>  climbed into the passenger seat and they continued down the road.>>  Suddenly, the driver saw a Cubs fan walking down the>>  road, and he instinctively swerved a...
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By Mark Seltzer
(retired)
Hope everyone likes 'em... Read on ol faithful one!If you ever feel a little bit stupid, just dig this up and read it > again; you'll begin to think you're a genius.> >  (On September 17, 1994, Alabama's Heather Whitestone was selected as > Miss America 1995.)> Question: If you could live forever, would you and why?> Answer: 'I would not live forever, because we should not live forever, > because if we were suppo sed to live forever, then we would live > forever, but we cannot live forever, which is why I would not live > forever,'> --Miss Alabama in the 1994 Miss USA contest.> ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 'Whenever I watch TV and see those poor starving kids all over the > world, I can't help but cry. I mean I'd love to be skinny like that, but > not with all t...
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By Mark Seltzer
(retired)
For the second time in like 10 days the Fereral Reserve Board cut interest rates. It does not affect immediate interest rates but I think we will see some lowering on Tues 02.08.08 or Wed 02.09.09. check out my website www.markalkaseltzer.com go to the MY PROFILE tab and look for articles that relate to interest rates.
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By Dwight Puntigan, Dwight Puntigan
(DRP Realty, LLC)
The concept of a Rent To Own program sounds really good.  BUYER:  A set amount of each months rent is set aside as a down payment on purchasing the house.  This builds equity and is a form of saving.  The period of renting allows time for credit repair(contesting negative entries on the credit report).  This period also allows the establishment of valid accounts that show a history of full on time payments(three or four accounts that show a history of good credit management make a huge difference).Seller:  Today's market has 30% fewer buyers.  Tightening the jumbo market on the high side, and raising the bar on the sub-prime side has made a tremendous difference over the past six weeks.  This program allows a seller to market to a larger pool of buyers(applies when the seller does not n...
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By Jennifer Kexel
(Plantation Properties)
The Spring triathalon is being held on Sunday, June 17 this year.The race consists of:500-meter swim in the Rec-Plex's Olympic-quality Natatorium21-mile bicycle ride through the flat farmlands of St. Peters, making a fast-paced ride5-mile run on paved trails in the city's shaded parksFor more information on the triathelon visit:www.stpetersmo.net/default.asp?pageID=13829 For more information on various races around the St. Louis metro area, visit:http://www.fleetfeetstl.com/calendar.htm 
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By Jennifer Kexel
(Plantation Properties)
In the late 18th Century, French traders arrived in the area that is now Old Town St. Peters. From 1830 to 1850, German Catholics who settled the little village joined with most of the French inhabitants. Through the efforts of those people, the area developed into a prosperous farming community. The settlement took its name from the first log church established in 1815, called St. Peters on Dardenne Creek. By the end of the 19th Century, the little town boasted two railroad depots and a flourishing main street of shops, hotels and saloons. The original log church relocated and expanded several times, eventually becoming the lovely, gothic All Saints Church. The church still sits on a hill overlooking the community, and even today, the steeple is visible from Interstate 70 and many area...
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