St. Louis Real Estate
Posts tagged as:
Earlier this year, the federal government created an $8000 first time buyer tax credit in an attempt to stabilize the housing market. However, since the money is provided to taxpayers through a tax credit after closing, many eligible buyers have struggled to come up with the money for the down payment and closing costs that [...]
{ 0 comments }
New Construction is Risky Business: Last year I pointed out that more and more builders have been unable to survive the housing market downturn. Builders that can not pay their construction loans and contractors end up in foreclosure. Some even close their doors. Here is the list from last year’s post: Bower & Bailey (closed [...]
{ 1 comment }
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 [...]
{ 1 comment }
Over the last few weeks, St. Louis newspapers continue to promote scare tactic headlines on the foreclosure crisis. Buyers reading the stories think the sky is falling. They think there must be a ton of foreclosed homes on the market and assume that they should be able to steal a home from a desperate seller. So how bad [...]
{ 2 comments }
Earlier this year I introduced you to my broker, Shawn Kelsey. Shawn likes keeping track of numbers and what is happening in the market, and does a great job of keeping all of The Kelsey Group agents informed on the latest news. Tracking foreclosure stats and pointing out how the media isn’t telling the full [...]
{ 0 comments }
There is no doubt that the housing market is struggling. Many parts of the St. Louis region are seeing housing prices that are closer to 2004 or 2005 prices. Condos seem to be particularly hard hit in the our area. But, the national news continues to push the story about how the sky is falling [...]
{ 0 comments }
