Sales are at record lows, and sellers who need to sell are like sponges when it comes to soaking up information and advice. Here are some tips to help you secure an offer quickly. In a market where price and condition are the two most important factors in the sales equation, the first and most important thing you can do is make cosmetic improvements where needed. Spending $2,000 on new carpet could bring you another $4,000; professionally painting walls and ceilings will give a soft and fresh look to the interior; and refinishing hardwood flooring and staining/ceiling decks can escalate an …

If you’re a first-time home-buyer who wants to live in Kirkwood or Webster Groves, you’ll want to save your money, because you’re going to need it. From July to December 2010, the average 3-bedroom, 2-bath, 1900 sq ft home in Kirkwood sold for $306,000, according to Trends Analysis from the multiple local listing service. The costs were lower in Webster Groves with the average 3-bedroom, 2-bath, 1800 sq ft home selling for $253,055 during the same time period. So what can an average single or couple Gen-Y buyer purchase in either of these areas? My personal experience is that a bungalow with …

Buying a home is one of the biggest investments you will make.  It’s important you do your research, have the proper representation and make certain you’re paying fair market value. But sometimes buyer’s expectations are too high.  The saying, "You have champagne taste on a beer budget,” can be applicable for a lot of buyers in today’s market. Everyone wants a $500K home for $250K and that’s simply not possible. Before you buy, you should review the following data: Comparables of the area; Average days on market to sell; List price to sale price percentage; Model of home; School district; and…

It's a fact that the Home Buyer Tax Credit helped to improve the housing market in part of 2010. Potential buyers were excited about the prospect of receiving $8,000 (first-time buyer) or $6,500 (move-up buyer) for purchasing a new home. For many, obtaining the credit may have been more important than purchasing the home. The interest rate on a 30-year mortgage was approximately 5.5-5.625 percent when the tax credit was introduced in 2009. Consumers became so focused on the tax credit that many lost sight of the most important factor in regards to financing a new home: the interest rates.  …

For the most part, the real estate markets of Kirkwood and Webster Groves have held their value. But when you're part of a market that's been as bad as the one we're seeing now, normal statistics are thrown out the window. In the zip codes of 63119 and 63122, tax records show 175 distressed properties. This means that a property is either bank owned or in pre-foreclosure status. This number changes based on a homeowner's status with a bank. If a homeowner has missed payments but is able to modify his or her loan, then their status could change. The distressed market encompasses about one-…

We've never seen a real estate market like this before, ever. With unemployment hovering around 9.6 percent and consumer confidence at an all-time low, the local housing market is seeing a different type of buyer and seller. Can you say distressed? In this article I'm going to focus on the trends for the past six months for Kirkwood and Webster Groves from May through October. This trends analysis will help you understand depreciation, price per square foot, absorption rate, average days to sell, average price point selling and the amount of inventory currently on the market. The biggest …