In the News - Relocating and Looking for Value - Consider St. Louis, Missouri - 10/30/08 10:47 PM
The City of St. Louis may just be one of the nation's best kept secrets. Whether you are a young professional, raising a family, an empty nester or retired, the City of St. Louis offers a low cost of living, affordable housing and an active lifestyle.
Here are some of the awards and honors … (0 comments)
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First-Time Homebuyers - Preparing for Homeownership - 10/29/08 10:55 PM
When it comes to purchasing a new home, there is no such thing as a free lunch. As a buyer's agent, we can assist you and provide you with guidance regarding the home search and sales process. However, we strongly suggest that you take control of the process, set … (4 comments)
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Agent Safety is No Accident - 10/29/08 08:32 PM
As real estate professionals, we often show vacant homes or work with new customers that we do not personally know. As a result, there are inherent risks associated with our jobs. Every year, there are news stories regarding assaults and other crimes against real estate agents. To read a … (10 comments)
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Discover Lafayette Living Today - Historic Homes, Great Neighbors, and a Vibrant Community - 10/29/08 01:56 PM
Recently, a prospect relocating to Saint Louis, Missouri, asked a simple and direct question - What does Lafayette Square have to offer me? Well, I could and did explain to the prospect the economics of this market. That is, it is a strong and stable market with increased sales and consistent price … (0 comments)
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Saint Louis (Lafayette Square/Georgian Square), Missouri - 2008 Brokerage Market Share Report - 10/28/08 03:08 PM
We are a small, local and independently owned real estate brokerage working primarily in the Lafayette Square, Georgian Square, and other historic neighborhoods. We have 7 licensed agents. We may be small but we deliver big results. Here are our year to date totals in the neighborhoods that we serve:
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An Architectural History - City Hospital No. 1 - 1515 Lafayette - City of St. Louis, Missouri 63104 - 10/28/08 12:16 AM
A Brief History - Georgian Revival Architecture
In 1909, the City of St. Louis started construction on City Hospital No. 1. The most prominent building in the City Hospital complex is and remains the Main Administration Building. The Main Administration Building is a five-story red brick building and was designed by architect Albert … (2 comments)
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Changing Your Sales Philosophy - Property Oriented to Service Oriented - 10/27/08 12:04 PM
Recently, we had a lively discussion in the office. It centered on a simple question - What is your personal sales philosophy?
There seemed to be two schools of thought:
Property First: The first school of thought centered on the property. The general view was that it was the sales associate's … (67 comments)
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Is Your Partner Impaired - Substance Abuse and the Current Financial Crisis - 10/25/08 04:32 PM
In the News
Recently, I have read national and local new articles relating to the impact of the financial crisis - including layoffs, foreclosures, decline in value of retirement accounts, etc. - on suicides, domestic violence, and substance abuse. From these news stories, it would appear that Americans are struggling with … (0 comments)
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2008 Real Estate Law Update (Missouri) - Legislative Action - 10/23/08 04:02 PM
Here is an update of a few changes in Missouri law that may have an impact or relate to sales transactions in Missouri:
HCS SCS SB 1033 - Real Property Transfers to Counties - Acknowledgements Now Required
In Missouri (except the City of St. Louis), grantees generally are not required to … (7 comments)
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New Home Sales - Do You Register or Survey Your Prospects? - 10/23/08 12:53 PM
Whether you sell new homes or existing homes, I will bet that your sales manager or broker has said something like "Get Everyone Registered" or "Get Everyone Signed-In." I think these statements are good advice. Nevertheless, I think this advice alone is incomplete. Although I agree that you should capture contact … (12 comments)
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Featured Local Business - October, 2008 - And the Winner is... Park Avenue Coffee - 10/22/08 08:48 PM
THIS MONTH'S FEATURED BUSINESS IN LAFAYETTE SQUARE
PARK AVENUE COFFEE - 1919 PARK AVENUE
Well, I think that a neighborhood is only as strong as its local businesses. This month's featured business in Lafayette Square is Park Avenue Coffee located at 1919 Park Avenue in the heart of Lafayette Square.
As my colleagues … (2 comments)
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New Home Sales - The Use of Resident Sales Ambassadors - 10/21/08 10:48 PM
Increasingly, builders-developers are turning to their customers-residents to supplement their sales staff. Some experts ask the question: "Is it a mistake not to have a seasoned sales staff to sell homes in this challenging market?" There are no simple answers. However, there are some distinct advantages to using customer-residents as a … (8 comments)
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Seller's Disclosure Statements - Tips for Managing Risk and Limiting Potential Liability - 10/21/08 01:40 AM
Over 70% of claims asserted against real estate agents arise regarding disputes regarding defects in or physical conditions of the property sold that impact the value, desirability or use of the property. Seller's disclosure statements, if handled correctly (as explained below), are an effective means to reduce and manage the risks … (7 comments)
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A Primer on Cohabitation Agreements - Sex and the City and the Pitfalls of Cohabitation - 10/20/08 11:34 AM
Buyer Beware - Purchase of Homes by Non-Traditional Families
Joint ownership of residential real estate by unmarried individuals is increasingly common. Recent census figures indicate that there are over 6.5 million unmarried cohabitating couples in the United States. Gay couples, elderly couples, heterosexual couples deferring marriage (divorced or otherwise), and couples … (4 comments)
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For Sale - The Georgian (Formerly City Hospital No. 1), 1515 Lafayette Avenue, St. Louis (Georgian Square/Lafayette Square), Missouri 63104 - 10/18/08 12:34 PM
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For Sale - Eden Lofts - 1720 Chouteau - St. Louis (Lafayette Square), Missouri 63103 - 10/18/08 12:31 PM
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For Sale - Mississippi Place - 1618 Mississippi (Display), St. Louis (Lafayette Square), Missouri 63104 - 10/18/08 12:29 PM
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For Sale - Abbey on the Park, 1505 Missouri, Unit 2E, St. Louis (Lafayette Square), Missouri 63104 - 10/18/08 12:26 PM
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For Sale - Union Club - 2340 Lafayette, St. Louis (Lafayette Square), Missouri 63104 - 10/18/08 12:24 PM
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For Rent - Eden Lofts - 1720 Chouteau - St. Louis (Lafayette Square), Missouri 63103 - 10/18/08 12:19 PM
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Expanding Your Sphere of Influence - Leave Cyberspace and Network in the Real World - 10/17/08 08:20 PM
Recently, I read another blog post that asked the question "How do I expand my sphere of influence?" The simple answer is by networking. When it comes to networking, you need both a web strategy and a real world strategy. Your web strategy will most likely focus on social networking sites … (42 comments)
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A Primer on "As Is" Sales - 10/17/08 12:38 AM
What is an "as is" sale?
As real estate professionals, there are times when we are directed by the owner of the property to offer the property for sale on an "as is" basis. The intent of the owner may be to emphasize that the owner is not willing to make … (8 comments)
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Market Report - The Lafayette Report - October, 2008 - 10/15/08 08:13 PM
MARKET SUMMARY: Lafayette Square is a fashionable neighborhood in high demand in the City of St. Louis.
SUPPLY: It is an established neighborhood with restricted supply. It has fixed boundaries and has little vacant land for new construction projects. Growth in supply is limited to in-fill and conversion projects.
DEMAND: … (0 comments)
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Watch the Time Clock - When the Clock Hits Zero the Game is Over - 10/15/08 03:00 PM
In today's hectic world, it seems that we are all too often faced with a shortage of time. The concept of time has changed over the past 20 years. There seems to be less "free" time. More importantly, time has changed in the sense that clients demand more instantaneous communication. In … (0 comments)
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FDIC Insurance - Are Your Funds at Risk? - 10/14/08 06:18 PM
In a residential or commercial closing, funds are deposited into an escrow account held by an intermediary such as title company, settlement company or attorney. The good news is that the FDIC looks at the beneficial owners of the account. That is, each customer who has deposited funds into the escrow … (0 comments)
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In Search of the Holy Grail - Free Advertising (and the Submission of Newspaper Articles) - 10/14/08 12:05 AM
In the real estate industry, free advertising is the Holy Grail. When you have a new development, a historic home, or a unique property, you have a special opportunity to promote both your business and your listing. Local daily papers, neighborhood papers, trade magazines, association newsletters, and even non-real estate bloggers … (7 comments)
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Are You a Hunter? Or Are You a Farmer? - 10/11/08 12:40 AM
At a recent luncheon, we had a lengthy discussion regarding the real estate market. An experienced agent asked "Where have all the purchasers gone?" It was followed by a series of comments starting with "Remember when... " There was a longing for the days when the phone rang off the hook … (3 comments)
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Website Review - www.mohomeprograms.com - A Resource for First-Time Homebuyers in Missouri - 10/10/08 05:07 PM
The internet is an amazing tool. It certainly can be used to bridge the "information gap" for first-time homebuyers. However, the sheer number of websites can cause "information overload." Because of the number of websites, I am hesitant to recommend just one. However, for first-time homebuyers, I would start with mohomeprograms.com, … (0 comments)
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Do You Lead the Customer or Do You Follow? Remember It Isn't All About You - 10/10/08 03:41 PM
In a prior post, I suggested that key to successful sales started with developing meaningful rapport. However, I received questions and comments on the "how to" aspect. Here are some of my suggestions:
• The Greeting - Stand and meet the person as they enter the home or display. When greeting a … (5 comments)
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Monthly Realtor Luncheon - November 11, 2008 - 10/08/08 07:33 PM
INVITATION TO MONTHLY REALTOR LUNCHEON
Gilded Age Sales would like to invite local Realtors, members of the Active Rain community, and the general public to attend our Monthly Realtor Luncheon on November 11, 2008, from 11:00 a.m. to 1:00 p.m. This month's featured property is The Georgian (former City … (0 comments)
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Why Dialing for Interest Rate Quotation is a Bad Idea - 10/08/08 12:41 AM
I am always amazed when I ask purchasers how they located their lender and they tell me that "they just started calling lenders" for interest rate quotations. It is a bad approach. Think about it. Here are some of the reasons why this is the wrong approach:
• Typically, when you … (2 comments)
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Just Ask Warren - Smart Investors are Buying Now - 10/07/08 10:01 PM
"LET BLOCKHEADS READ WHAT BLOCKHEADS WROTE." (Warren Buffett)
Warren Buffett has it right. You can just follow the herd. You must investigate the facts, read between the lines, and make decisions based on your personal circumstances, not on market rumors and pundit opinions. Local and national media outlets are playing on … (3 comments)
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Don't Work Harder... Work Smarter - 10/03/08 05:34 PM
AVOID TIME THEFT
To be successful, you don't necessarily have to work harder or spend longer hours at the office. You may just need to work smarter. The key may just be to better or more effectively manage your time. It starts with eliminating time theft. On average, 6 minutes per … (21 comments)
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Melting the Polar Icecap - Developing Meaningful Rapport - 10/03/08 12:21 AM
THE PROBLEM - INHERENT SUSPICIONS
When I purchased my first car, I was struck with the simple observation that the initial meeting was inherently confrontational. I dreaded entering the show room. Here is what happened:
· The salesperson pounced at the door.
· The salesperson then proceeded with rapid fire questions.
· When simple … (5 comments)
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Success is a Planned Event - 10/01/08 09:08 AM
What Separates the Best - Success is a Planned Event
We recently had informal discussions with a number of new home sales managers and their sales representatives. The focal point was what makes a top performer. Are top performers just born to sell? Or are top performers created by training and experience? Is … (8 comments)
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Motivation - The Extra Effort Matters - 10/01/08 09:03 AM
The Extra Effort
Top performers in new home sales have various personal styles, training and experience. However, one of the characteristics displayed by all top performers is a strong work ethic.
A short movie, 212 Movie, shows how extra effort makes the difference. The movie is premised on a simple fact of science. At … (2 comments)
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Commentary - Another Tool for First Time Home Buyers - Federal Tax Credit - 10/01/08 09:00 AM
Commentary - Another Tool for First Time Home Buyers
The first-time home buyer tax credit provides another reason for a first-time home buyer to purchase their home today. The greatest misperceptions regarding the program are that the tax credit is a "giveaway" and that the purchasers receive a "check at … (1 comments)
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ARMs - Throwing the Baby Out with the Bath Water - 10/01/08 08:56 AM
ARMs - Throwing the Baby Out with the Bath Water
Current Crisis
Recent new stories attribute much of the blame on the credit and housing crisis on the wide spread use of adjustable rate mortgages ("ARMs"). This type of loan product has an interest rate that adjusts periodically. Because of these … (0 comments)
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Mortgage Matters - When Smart People Panic - 10/01/08 08:51 AM
Mortgage Matters - When Smart People Panic
We are inundated with daily stories about tightening credit markets. The national press has started beating the drums with the stories of denied loans. However, these stories are sometimes misleading. The borrowers who are on the front of the mortgage crisis are generally the … (2 comments)
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National vs. Local Trends - Combating Misinformation - 10/01/08 08:47 AM
A Self-Fulfilling Prophecy
Over the past 18 months, prospective purchasers have been bombarded with negative news stories regarding the "housing bubble." The term has been used to describe a wide range of national market conditions ranging from a decrease in housing starts to increases in inventory to declines in median sales … (0 comments)
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