Is A Laundry Room Top on Your Wish List?

Categories: Home Selling Tips Luxury Real Estate Real Estate Market Tips for Buying a Home

 
 
 
 
 

Most Wanted Home Feature: In a home buying survey by the National Association of Home Builders, a laundry room was the most desired feature by 87% of home buyers.  And the majority of those surveyed wanted the laundry room to be on the first floor.

Exterior Design: What about the exterior design of your home?  More home buyers prefer traditional.  Here’s the breakdown:

 

·         32% Traditional

 

·         24% Contemporary

 

·         16% Transitional

 

·         14% Modern

 

Floorplan Preference?: No surprise, the open floor plan was preferred between the kitchen and dining room, the kitchen and family room or the dining and family room.

 

  

The entire report can be found at What Home Buyers Really Want, 2021 Edition 

 

2021 Mid Year Housing Report

Categories: Luxury Real Estate Real Estate Market St. Louis Luxury Homes

I am delighted to furnish our 2021 Mid-Year Housing Report.  We are pleasantly surprised at the continued vigor of closings and sales prices in our St. Louis region.  The market shows no signs of slowing down.  Multiple offers and escalated prices have continued into mid-summer.  We are struggling to keep enough inventory to satisfy intense buyer demand.

Many people have asked me if I foresee a near term bubble or price correction like in 208-2012.  Here's why I think a housing crash is unlikely.

The housing market fundamentals of today are different than in 2008.  Remember in 2008, MLSs were overwrought with distressed properties, inventory was high and days on market was long.  I remember the luxury market had 3 to 4 years of inventory.  Today, we have 2 months of inventory.  (We consider equilibrium to be 6 months of inventory.)

We don't have subprime and 100% loans to the extent we saw leading up to 2008.  In 2008, buyers budgets were overstretched; mortgages exceeded the value of the home.  In those days, we were navigating short sales, in which our clients required loan forgiveness in order to sell their homes.  Today, more homes are purchased with cash.  For new mortgages, the loan-to-value ratio and debt-to-income ratio must meet more conservative federal guidelines.  Sellers have more equity in their homes.

Supply is vastly different today.  In the housing heyday, builders overbuilt.  National Association of Realtors calculated that America had a 2.1 million surplus of housing units by 2006.  When the market crashed, builders liquidated land, sub-contractors shuttered their doors and new construction nearly halted.  Today, it's estimated that we have a 4.8 million shortfall.  Even with home building on a rebound, inventory remains low.  For this reason, home prices are in no danger of falling sharply.  

We are working diligently to find the perfect home for anyone ready to make the move.  Please don't hesitate to reach out.  Be well and stay safe,

Janet

February Real Estate Round Up for St. Louis Central Corridor

Categories: Real Estate Market

February home sales

This was a February like no other.  Our temperatures were frigid.  And yet, the real estate market in St. Louis was HOT.  Our company sales were more than double last year.  Tight inventory, multiple offers, escalation clauses, fast closings and cash contracts are dominating the mid and lower price ranges.  Luxury home buyers are looking for more space, outdoor fireplaces, pools, top of the line finishes and all the creature comforts.  Since we’re spending more time at home, we want to make it count - rooms for work and rooms for workout

2020 Annual Housing Report

Categories: Real Estate Market

To My Valued Friends and Clients,

I am delighted to furnish our 2020 Housing Report comprised of local market data with insights on how the COVID pandemic has shaped St. Louis buying and selling patterns. 

Most of us experienced price appreciation this past year.   St. Louis City and County median home prices rose more than 10% over 2019.  Inventory continues to be sparse especially in the lower price ranges, where we find intense competition for few homes.  Multiple offer situations plague first time home buyers who are forced to compete against all cash, no inspection, quick close offers.  Some of our first timers have written on 10 different homes before getting an acceptance.  

2020 was a roller coaster year – ending on a high, but dicey in the middle.  A strong tail wind ushered in the year pushing January and February sales 8% higher than last year.    Then the pandemic struck, and St. Louis County issued “Stay at Home” orders just when our traditional “Spring” market would have ramped up.  Sellers pulled the plug, either delaying or pulling their home off the market completely.  Postponed job transfers led to canceled contracts. 

I am thankful our associates “dug in,” loaded up PPE, quickly implemented safe showing protocol, pivoted to virtual showings using tools like Facebook Live and adopted Zoom for client consultations if in-person meetings were not feasible.  After a rocky couple of months, Q3 and Q4 sales rose +28% and +36%, respectively.  Our company ended the year on record sales, and I know many other brokerages experienced the same.

Home buying trends either emerged or accelerated in 2020.  I have not heard the term “Zoom towns” widely used here but it refers to housing markets that are growing in popularity due to remote working.  In our market, the desire for more space and suburban migration eclipsed the need for short commute times.  Buyers searched properties with separate spaces for home schooling and home offices.  Workouts moved home with virtual trainers, meaning buyers wanted exercise rooms.  And above all, outdoor amenities (pools, outdoor kitchens, TVs, fireplaces, verandas) dominated home searches this year.  The market for secondary residences exploded as people could now work from either St. Louis or a vacation home.  Moving to be closer to family” is now a primary motivation for relocation among all age groups, not just grandparents. 

Our 2021 outlook is positive.  Vaccinations, low interest rates, last year’s market gains, and the Millennial generation moving into their home buying years all bode well for our future.  

Be well and stay safe,

Janet

2020 Annual Housing Report

 

How Interior Decor Will Change in 2020

Categories: Home Selling Tips Luxury Real Estate Real Estate Market

 

December may be a time for reflection, but January is a time for looking forward. The new year brings new opportunities to reset, refresh and live our best lives. It’s also the best time to set goals and make the changes you’ve always thought about, whether that means hitting the gym more often or finally painting your home office.


Giving your home’s interior decor a facelift is an easily achievable goal for 2020, and we encourage you to take some time to learn how decor trends will change this year. If you haven’t yet, take a look at our list of the Top 10 Design Trends for 2020 and read on to hear how experts forecast how interior design will change in the coming year.

Sustainability and Eco-Friendly Practices


In a recent article in Vogue, fashion designer Stella McCartney wrote about how she is doing her part to make her world more sustainable, from turning the ponds at her home into an independent sewage system to paper-mâché walls made out of shredded office papers in her London flagship store. It is increasingly difficult to ignore the need to reduce, reuse and recycle in our everyday lives, and it’s easier than you think to incorporate eco-friendly decor into your design.


According to InteriorZine, many interior designers are expected to “create unusual and new materials based on recycling, alternative technologies and a well-balanced approach” between the two. Chief among these efforts is to reduce the use of plastic in design and instead use natural materials like seagrass, bamboo, and corn.

Modern Urban vs. Luxury Living


It should come as no surprise that city living typically means having less space to work with. In this day and age, as modern urban living continues to evolve, the new middle class is looking for a space that is in tune with their everyday needs. The world has gone digital, with increasing numbers of people working from home and using their spaces in ways their parents may not have. Gone are the days of formal dining rooms; in are sleek spaces that can serve multiple functions, from rest and relaxation to wining and dining. This has prompted a creative challenge for interior design professionals, who must design cost-effective spaces that can meet the needs of their clients.

Changes to Primary Living Spaces


There was once a day when kitchens, dining rooms, and living rooms were all compartmentalized—literally. But if you’ve ever seen a home renovation show, you know that primary living spaces that are open concept are #1 on everybody’s list. The design of these spaces is constantly evolving, with InteriorZine reporting that an integrated kitchen-dining room “is a ‘must’ for modern life’s dynamic,” whether you’re entertaining business associates or keeping an eye on your kids while you prepare dinner. In addition to being downright useful, integrated spaces make your home look larger and make it easier to incorporate design elements across the board.

 

“Living” Kitchens


On average, how much time would you say you spend cooking in your kitchen? Conversely, how often do you use it primarily as a socialization space? As family dynamics change, so too do the ways we use our homes’ spaces. Fluid living spaces are a must, and “living” kitchens provide a stylish, comfortable and functional space that works for your taste and lifestyle.

 

How many of these interior design elements do you think you can incorporate into your home in 2020? We challenge you to create a space that works for you—and the environment.