St. Louis Real Estate
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Last July, I posted results from the PMI Summer 2008 housing market report. Back then, St. Louis was listed as having only a 1% chance that housing prices will be lower in 2 years. The PMI Report update is out for the 3rd quarter 2008. PMI recognized that their model has been underestimating declining markets [...]
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I just read a report from Jay Thompson at The Phoenix Real Estate Guy that highlighted the PMI Summer 2008 report on the housing market. In contrast to Phoenix which has a 79.6% chance for lower prices in 2 years (according to PMI), the report claims that St. Louis has only a 1% chance of [...]
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I had always heard that real estate appreciates about 5% per year when a property is owned for many years, but I had never seen any hard data. I’m a big believer that you are likely to be wrong if you just assume that what you hear is correct (or make a guess without any real data). Today I [...]
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The news media continues to focus on foreclosures, but part of our current problem really has to do with poor choices by some homeowners. Many sellers feel like they have lost money, but it is money that they never had. Just like the stock market, the real estate market has good years and bad years. Real estate isn’t designed to [...]
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I just read an interesting article by James Asbury, President of the Missouri Association of Realtors, that suggests the real reason behind the current slow market is overpriced homes and unrealistic sellers. He notes that the average national appreciation for homes purchased between 1987 to 2000 was 4% per year. Then we hit a booming market, and the [...]
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