The Lafayette Report

Gateway Men's Chorus - Grand Performance at the 2009 Women's Council of Realtors Vendor Expo and Fashion Show (St. Louis, Missouri)

Mon, 09 Nov 2009 01:22:00 -0600

THANK YOU TO THE GATEWAY MEN'S CHORUS FOR A GREAT SHOW!!!

On November 5, 2009, the Metropolitan St. Louis Chapter of the Women's Council of Realtors held its 2009 Vendor Expo and Fashion Show at the Sheraton Westport Chalet. It was a sold out event with over 300 real estate professionals in attendance. However, this year's event had a new twist and an added benefit. After dinner and before the fashion show, the Gateway Men's Chorus of St. Louis regaled the sold out crowd with various melodies and numbers from previous and current shows. Just in case they didn't know it - their after dinner entertainment was a great hit with the crowd.

If you saw their performance, I suspect you don't need much encouragement to become a subscriber for their 2009-2010 Season. Season tickets start at $65.00 for three shows. The current line up for the season is:

Winter Concert - Holiday Hit Parade - December 11 & 12, 2009
Spring Concert - When We No Longer Touch - March 20, 2010
Summer Concert - Mama Knows - June 18, 2010

You can also support the Gateway Men's Chorus by purchasing their CDs and cookbooks.

With less than 50 days to Christmas, there are several easy gift ideas for your brokerage staff, referral partners and clients. Trust me - they will love the show. Plus, it is a great way to support an organization that contributed to the success of the 2009 WCR Expo and Fashion Show.

For more information on their 2009-2010 Season, vist their website: Gateway Men's Chorus. Or, follow them on Facebook, LinkedIn, and Twitter.

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PREA SIGNATURE REALTY

PREA Signature Realty is a full service brokerage located at 1709 Park Avenue in the Lafayette Square neighborhood of the City of St. Louis. PREA Signature proudly serves the following city neighborhoods: Lafayette Square, Soulard, Benton Park, Benton Park West, Downtown Loft District, Forest Park Southwest, Central West End, Tower Grove East, Tower Grove South, Compton Heights, Shaw, The Hill, Dogtown, Carondelet, Holly Hills, St. Louis Hills, Dutchtown, and the Other Historic Neighborhoods of the City of Saint Louis, Missouri.

The opinions expressed herein represent the opinions of the author only and do not reflect the opinions of PREA Signature Realty. All photos and written content were produced by PREA Signature Realty. All Rights Reserved - PREA Signature Realty (2009). This content may not be reproduced or reprinted, except for Active Rain re-blogging, without express written permission of PREA Signature Realty.

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Are Listings Taboo on Social Networking Sites? My Answer - Not When They are Presented in a Passive Format like a Listing Widget

Tue, 03 Nov 2009 12:23:51 -0600

Yesterday, I posted an article to my ActiveRain blog entitled "Stop Annoying Your Facebook Connections - Use SeeMyListings.com to Place Your Listings on Your Profile Page." It was a pretty simple post. It described how you could use the www.SeeMyListings.com widget from the National Association of Realtors and Realtor.com to place your listings on your Facebook profile page and eliminate or at least reduce those "just listed" type status updates that can be annoying to friends, family and colleagues on social networking sites.

The response from AR members and subscribers to my AR and outside AR blogs was positive with most comments being something along the lines of "Thanks... I didn't know that about the listing widget." Given these comments, I posted the article as a link in a status update on Twitter, Facebook, and LinkedIn. Again, I received positive comments so I also posted to several LinkedIn groups. Again, 99% of the responses were extremely positive. In the NAR LinkedIn group, it seemed to provoke a storm of protests from the self-proclaimed "social media police" and "social media gurus." It seemed odd for two separate reasons: first, the listing widget was created by Realtor.com for use by Realtors, and, second, it was intended to allow Realtors to show their listings without bombarding or annoying their "friends" on Facebook with listing information. Realtor.com has held tech seminars around the country this year and the listing widget has been offered in these seminars as a preferred method of presenting listings over repetitive status updates. Nevertheless, the discussion posted to the NAR LinkedIn group seemed to be controversial.

Here are a few of the comments that I wanted to share from the LinkedIn discussion:

It always bothers me when people continue to use social media to do sales. The reason social media has evolved is because people are tired of traditional sales and advertising practices. Consumers look to their inner circle for trusted influencers. Facebook, Twitter, LinkedIn are all places to network, be social and expand one's influence by providing value, not flashing your business card and homes for sale in everyone's face... Spamming these sites doesn't help the agent who has the listing. It harms them. I unfollow, block and basically turn a blind eye to their listing spam and them. It's an indication of a lack of understanding the simple basics of social networking.
OK go ahead and post your widget. Turn FB into a marketing site. My point is the origin of social networking is exactly NOT about what you are doing. It is repeating the same repulsive behavior that has been annoying us on TV, the radio and in print media. The consumer is sick of being SOLD. They want to connect with a trusted advisor they find personally or comes recommended to them. I can see your point about having the widget on the profile. Of course since FB is a walled garden, only your friends can see your widget. Tell me this, what is the point? If it doesn't get traffic why bother? I prefer not to risk being put in the same class as spammers and that is what it is to me when you put ads on a social networking site.
I agree with Xxxxxx, FB is not for listings. You can go ahead and post them there, but I will remove anyone from my "favorite" friends list and move them to the "other" list that I rarely if ever review. If you would like to post an interesting article, with a link to your listing, then that would be much better. For example, I posted regarding investment property. I posted it to FB and got quite a few visits back to my site. An alternative is to set up a business FB page, then let people that want those ads to become a fan. When Realtors complain about your postings, that is a good sign to back off on sending those. Use an email broadcast, much better.
I am glad that I will never see your advertising because I will never visit your profile.
Facebook is for social-media and not for your listings, but I believe that has been mentioned to you on the above posts.

Now, I actually respect the commentator who made the first two comments. However, I fundamentally disagree with her position. Here are a few points to consider:

Opt-In Procedures: Unlike e-mail marketing suggested by one of the commentators above, most social networking sites (including Facebook and LinkedIn) are opt-in, permission based sites. That is, your connections or friends on these sites have to accept you before they receive any communications(status updates or other items) from you. If you overstep the bound or unwritten rules of the sites, people will simply opt-out.
Passive Nature of Profiles: Unlike status updates, posting listings using the listing widget on your Facebook profile or using Slideshare.net or Box.net on your LinkedIn profile doesn't post or send any announcement to your connections or friends. It is passive in nature and is accessed only by someone who is looking at or reading your profile.
Distinctions between Permission Based Advertising and Spam: Use of the listing widget isn't "spamming." By definition, "spam" is an unsolicited, commercial communication. In the case of the listing widget, it isn't unsolicited because the friend or connection has opt-ed into your network. In addition, it isn't even a communication. There is no e-mail, notification, etc. sent or posted. That said, the person must actually go to your profile to take a look at your listings.
Uses of Listing Widget: The listing widget is an important tool. The ability to show potential clients your current listings can bolster your expertise and credibility. If you sell a particular neighborhood or have a narrow field of expertise, the listing widget allows friends and connections who are potential clients to see the number of listings, price ranges, types of housing, etc. which can be effectively used to enhance your status as a neighborhood expert or specialist.

Some members of social networks want to preserve social networks as a pristine, commercial-free playground of thought and discussion. In reality, LinkedIn and Facebook are or at least can be powerful marketing tools when used right. The fact that businesses are actively promoting their presence on Facebook, LinkedIn, and Twitter is a pretty good sign of the marketing potential held by these sites.

Oddly, I don't disagree with the underlying premise of the comments above - that is, ad and marketing machines on social networking sites aren't effective. However, I don't view a listing widget on your Facebook page as contaminating or fundamentally changing the social nature of sites such as LinkedIn and Facebook. When I look at most profiles on Facebook, I often see a link to one's website. The website is typically their company website or personal business website. My question is: Is using a listing widget on one's Facebook profile really any different than having a Facebook profile with a link to a person's business website?

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Stop Annoying Your Facebook Connections - Use SeeMyListings.com to Place Your Listings on Your Profile Page

Mon, 02 Nov 2009 01:00:54 -0600

The Marketing Machine - Annoying your Friends, Family and Other Members of Your Social Network

Social networking sites such as Facebook can be great tools for keeping in touch with members of your sphere of influence. Keeping your friends and family informed of your professional interests is an appropriate use of social networking sites. However, there is a fine line between sharing your professional insights and experiences on social networking sites and using social networking sites as an advertising and marketing machine. For those new to social networking sites, it is easy to take the wrong approach to social networking by blasting your listing information repeatedly to your connections.

Use SeeMyListings.com Widget to Place Your Listings on Your Facebook Profile

For Facebook users, there is now a simple solution. Use the listing widget provided by the National Association of Realtors and Realtor.com to place your listings on your Facebook profile. Here are the steps:

Step 1 - Go to www.SeeMyListings.com.

Step 2 - Click on "Add My Listings.

Step 3 - Log on to your Facebook account.

Step 4 - Enter your MLS provider and user name.

Step 5 - Click on "Add to Profile" or "Update Listings."

In a few simple steps, you are able to automate the addition of your listings to your Facebook profile. Given the number of Realtors who I am connected to on Facebook who aren't using this feature, I thought I would post this this short how-to post to get them motivated. Five easy steps to get your listings on Facebook without annoying your friends, family and even colleagues.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Butler's Pantry and Gilded Age Announce the Grand Opening of Palladium Saint Louis

Sun, 01 Nov 2009 20:32:52 -0600

Gilded Age, a Lafayette Square real estate development company, and Butler's Pantry, a local catering company, jointly announced the grand opening of the state of the art event facility known as "Palladium Saint Louis" in the former Laundry Building of City Hospital No. 1. The opening of Palladium Saint Louis marks the the completion of the first phase of the City Hospital - Carroll North Project with construction of corporate apartments set for Spring, 2010.

Located just South of Downtown St. Louis, Palladium Saint Louis is now open with the ability to accommodate 400 guests for dinner or over 700 people for cocktail style events. Some features of the new venue include:

3-story State of the Art Chef's Kitchen
Mezzanine Floor Overlooking the Event Space
Expansive 2-story Windows Offering Stunning City Lights Views
Artistic "petals" for Personalized room Designs
Dramatic Lighting
State of the Art Audio and Visual Capability
Valet and On-site Parking

Take a glimpse at this great venue space:

Development Team Credits:

Developer - Gilded Age
Architect - The Lawrence Group
General Contractor - BSI Constructors

Interested in relocating your business to Lafayette Square or in obtaining additional information on the City Hospital - Carroll North Project? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com. Or, visit our website at www.PREASignatureRealty.com.

Prior Blog Post: Palladium St. Louis - First Event

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Listing Condos for Rent in the City of St. Louis, Missouri

Sun, 01 Nov 2009 18:46:29 -0600

Interested in listing your condo for rent in the City of St. Louis, Missouri?

PREA Signature Realty is a market leader in the rental of residential properties in the City of St. Louis, Missouri.

(Note: Information based on MLS data available through November 1, 2009)

PREA Signature Realty offers the following rental service plans to owners and management companies:

Competitive Market Analysis: Receive a comprehensive rental report to assist you in setting your rental rate and leasing terms.
Limited Service Plan: Obtain placement of property in MLS with syndication to over 100 other websites. Owner is responsible for all showings. Listing Agent is responsible for entering listing into MLS and negotiation and execution of lease only.
Exclusive Agency Plan: Substantially same as full service plan, except owner retains right to show residence and to directly lease the residence to leads generated by owner.
Full Service Plan: Listing Agent provides comprehensive services including preparation of Competitive Market Analysis, entry of rental listing into MLS with syndication to over 100 websites, scheduling and attendance at showings, and negotiation and execution of lease.

Here is a comparison of the rental service plans offered by PREA Signature Realty:

SERVICE PLANS	CMA	MLS	SYNDICATION	BROKER SHOWINGS	DIRECT OWNER LEASING	FLAT FEE	COMMISSION
Competitive Market Analysis	YES	NO	NO	N/A	N/A	YES	NO
Limited Service Plan	YES	YES	YES	NO-OWNER ONLY	YES	YES	NO
Exclusive Agency Plan	YES	YES	YES	YES-OWNER/AGENT	YES-LEADS PROCURED BY OWNER	YES	YES
Full Service Plan	YES	YES	YES	YES-AGENT ONLY	NO	NO	YES

For more information on listing your condo, loft, townhome, or single family home for rent in the City of St. Louis, Missouri, contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Foreclosure Trends - What is Happening in the St. Louis City Market?

Mon, 26 Oct 2009 02:25:19 -0500

MARKET DATA

Since the start of the year, there has been a downward trend in the number of foreclosure sales and bank repossessions in the St. Louis City market. According to RealtyTrac, St. Louis City ranks 607 in foreclosure activity nationwide. Although the number of new foreclosure notices published, foreclosure sales, and repossessions has declined, the inventory of REO listed properties has increased.

In recent months, the number of new REO listed single family homes in the St. Louis City has dramatically increasedwith an average square foot price between $20 to $40 per square foot according to MLS figures.

At the same time, the number of REO listed single family homes sold has remained steady with an average price per square foot between $25 and $35 per square foot.

Note: The RealtyTrac data includes all residential properties (single family and condos). The MLS data only reflects single family homes and attached fee simple townhouses.

COMMENTARY

If you are an investor looking to purchase single family homes in the St. Louis City market, there are two favorable trends relating to foreclosures and bank owned properties. First, notwithstanding the recent decline in foreclosure activity, there has been an increase in REO inventory. Second, there is now a clearly established sales price trend for REO properties. Notwithstanding these two trends, the purchase of REO properties may not be suitable for all purchasers. Homes with substantial equity or in the best neighborhoods are often purchased as short sales prior to the foreclosure sale or are purchased by experienced investors at the foreclosure sale. The remaining properties often are less desirable either becuase of their location or condition. However, for experienced long term investors with the financial ability to make repairs, these properties may represent a value opportunity to purchase single family homes at discounts average 30% or more off the fair market value of comparable properties.

In addition to foreclosure sales and REO listed properties, there are other opportunities in the current market relating to distressed properties. Here are some alternate real estate investment strategies:

Purchase of notes and first deeds of trust at a discount from private, non-institutional lenders.
Purchase of notes and second deeds of trust at a discount from private, non-institutional lenders.
Bulk purchases of properties from other investors, developers, and lenders.
Purchase of homes subject to existing deeds of trust from sellers currently in default on their note.
Purchase homes listed as short sales
Bid at foreclosure sale.
Purchase of bank owned properties ("REO").
Bid at judicial sales including tax sales and sheriff's sales.
Purchase directly from LRA or LCRA.

If you are an experienced investor and would like to discuss the purchase of investment properties in the St. Louis City market, contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Speechless Sunday (More or Less) - The New Cathedral

Sun, 25 Oct 2009 00:07:23 -0500

The New Cathedral - St. Louis, Missouri.

On May 1, 1907, ground was broken on the New Cathedral. The first mass was celebrated on October 18, 1914.

For those who haven't been inside the the New Cathedral, it is an amazing sight. Work on the mosaics started in 1912. The mosaics in the side chapels and sanctuary were designed and installed by the Tiffany Company. Work continued for 78 years and was completed in 1988. To fully understand the massive scope of the project, there are 83,000 square feet of mosaic glass tiles with over 41.5 million individual tiles in 7000 colors

To see the inside of the New Cathedral, click on New Cathedral Tour. The New Cathedral is located at 4431 Lindell Blvd. in the Central West End neighborhood of the City of St. Louis.

Interested in purchasing a new home, condominium or loft in the Central West End? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Condo for Lease in Brentwood Forest - 1406 Oriole, Brentwood, Missouri 63144

Thu, 22 Oct 2009 09:26:22 -0500

Looking for condo for lease or rent in the Brentwood Forest neighborhood of the City of Brentwood, Missouri?

Not all condos for lease or rent in Brentwood Forest are created equal - check out 1406 Oriole available for rent at $1000 per month.

PROPERTY LOCATION

PREA Signature Realty just listed a condominium for lease at 1406 Oriole in theBrentwood Forest neighborhood of the City of Brentwood, Missouri. This Brentwood Forestcondo is located approximately 5 blocks West of the intersection of Highway 64/Eager Road and Brentwood Boulevard on a quiet, tree-lined residential street along the Northern boundary of the Brentwood Forest neighborhood. It is within walking distance of the Brentwood Forest clubhouse, pool and tennis courts as well as fishing and hiking along Jefferson Lake.

RENTAL RATE

The monthly rental rate is $1000 per month with a 12 month lease. Owner may consider shorter or longer lease terms. Monthly rental rate includes: sewer, water, trash, and condo fee for unit. Tenant is resposible for electric, cable and telephone.

PROPERTY FEATURES

This condo for lease in theBrentwood Forest neighborhood of the City of Brentwood, Missouri, offers the following features and benefits:

Bedrooms: 2 Bedrooms.
Bathrooms: 1 Full Bath.
Sq. Footage: 945 sq. ft. (per city tax records).
Exterior Facade: Brick with Wood Siding.
Parking: Off-Street Parking.
Storage Room: Storage room, tool room or workship located off of Deck. Double mount bike rack for storage of bicycles.
Deck: 18' x 7.5' - Oversized Wood Deck
Living Room: 16' x 14' - Engineered Hardwood Floors, Wood Burning Fireplace with Kentucky Stone Surround, Windows with Western Exposure, and Ceiling Fan.
Dining Room: 9.5' x 11.5' - Hardwood Floors, Open Floor Plan, Chandelier, and Chair Molding.
Kitchen: 8' x 8 - Updated Kitchen with 42" Custom Cabinets, Granite Countertop, Ceramic Tile Floor, Stainless Appliances, and Laundry Cabinet.
Master Bedroom: 13' x 10' - Engineered Hardwood Floors, Ceiling Fan, Wall Closet with Custom Organizers, and Windows with Western Exposure.
Guest Bedroom/Office: 9.5' x 12' - Engineered Hardwood Floors, Wall Closet with Custom Organizers, and Windows with Eastern Exposure.
Fireplace: Woodburning Fireplace in Living Room.
Cable/Telephone: Wired for Cable and Telephone.
Appliances:
- Asko D1996 Dishwasher
- Frigidaire Pro Series Electric Oven/Range
- E-Wave Microwave
- GE Refrigerator - Bottom Freezer
- Asko T721 Dryer
- Asko W6021 Washer
Bathroom: Custom Cabinetry, Shower/Tub with Glass Door and Tile/Slate Surround, Handheld Shower Head, Heat Lamps, and Slate Floor and Shower Surround.
Plumbing Fixtures: Garbage Disposal in Kitchen. Chrome Bathroom Accessories.
Window Treatments: Mini-Blinds.
Flooring: Engineered Hardwood, Ceramic Tile, and Slate.

CONDO AMENITIES

This condo for lease in the Brentwood Forest neighborhood of the City of Brentwood, Missouri, includes the following amenities for use of the tenant:

Brentwood Forest Pools - East Pool and West Pool (9000-9002 Wrenwood Lane)
Brentwood Forest Tennis Courts - 2 Lighted Tennis Courts (1700 High School)
Brentwood Forest Clubhouse for Rent for Parties (9000 Wrenwood Lane)
Fishing in Jefferson Lake in Brentwood Forest
Nature, Hiking and Walking Trails along Jefferson Lake and within Brentwood Forest
Designated Picnic Areas, Bird Watching and Gazebo area along Jefferson Lake and within Brentwood Forest

For more information, visit the Brentwood Forest website.

MUNICPAL SERVICES

For more information on city services, visit the City of Brentwood website at www.brentwoodmo.org.

School District: Brentwood School District
Library District: Brentwood Library System
Parks: Brentwood Parks and Recreation with access to recreation facilities in neighborhood cities of Maplewood and Richmond Heights
Recycling Services: City of Brentwood Trash Pick-Up (Mondays and Thursdays) and Curbside Recycling Program (Mondays)

CASUAL LIFESTYLE

LOCATION: This condo for lease in Brentwood Forest is located 5 blocks West of the intersection of Brentwood Boulevard and Eager Road. Brentwood Forest consists of 1,425 one and two story condominiums on 110 park-like acres. Brentwood Forest offers a casual lifestyle with lush lawns, mature trees and landscaping, walking trails, clubhouse, pool, tennis courts, and much more.

SHOPPING: In addition to the on-site amenities, Brentwood Forest is centrally located near Interstate Highways 64 and 170 and minutes from downtown St. Louis, Clayton, the Central West End, and the Lambert St. Louis International Airport. Brentwood Forest is a shoppers paradise within walking distance of the following retail developments:

St. Louis Galleria (Dillards, Macys, Galleria 6 Movie Theatre, Cheesecake Factory, and More)
The Boulevard (Crate & Barrel, Ann Taylor Loft, P.F. Changs, Maggiano's Little Italy, Omaha Steaks, and More)
Brentwood Promenade (Target, PetCo, World Food's, Trader Joes and More)
Brentwood Square (Viking, Borders Books, Whole Foods Market, REI, Fedex Kinkos and More)
Dierberg Point Shopping Centers (Dierbergs, DSW Shoes, Macaroni Grill and More)
Close to Hanley Road Walmart and Home Depot stores.

If this isn't enough, take the Metro from the I-64/Brentwood Station to Clayton, University City, Central West End or Downtown St. Louis. Click here for Metro Map.

OTHER BENEFITS: Here are some of the benefits of this great Brentwood Forest location:

Public Transportation - Near the Brentwood/I-64 Metro Stations.
Interstate Highways - Central Location with Easy Access to Interest Highways 64 and 170.
Hospitals - Minutes from St. Mary's Hospital, Barnes-Jewish and the Washington University Medical Campus and other area hospitals.
Universities- Short drive to the college campuses of Fontbonne, Webster University, Washington University, and the St. Louis College of Pharmacy.
Arts and Entertainment - Short drive to Clayton and University City galleries, shops, entertainment and other venue.
Local Restaurants - Short distance to Frank Papa's Ristorante, Carl's Drive-In, and AppleGate Deli.
Park - Walking Distance to Brentwood Recreation Center/Ice Rink and 7 city parks. Close to Tillis Park and other county parks. Member of PARC allowing residents to take advantage of recreation facilities in Maplewood, Richmond Heights and Brentwood.
Airport - 10 minute drive to Lambert St. Louis International Airport
Library: Brentwood Library.

Brentwood Forest offers a great, new lifestyle. It is an oasis in a suburban setting minutes from everywhere. Whether you want to find a national chain or a local restaurant, it is all just outside your front door.

VIDEO TOUR

Interested in purchasing or leasing a condominium in Brentwood Forest? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Public Service Announcement - National Drug Free Work Week

Mon, 19 Oct 2009 14:24:28 -0500

START OF NATIONAL DRUG FREE WORK WEEK

The National Drug Free Work Week starts October 19, 2009. The purpose of the National Drug Free Work Week is to highlight that being drug free is key to workplace safety and health and to encourage workers with alcohol and drug problems to seek help.

PURPOSE OF NATIONAL DRUG FREE WORK WEEK

The National Drug Free Work Week is sponsored by the U.S. Department of Labor in coordination with members of its Drug-Free Workplace Alliance. This cooperative program, which represents both employer/contractor associations and labor unions, aims to improve safety and health through drug-free workplace programs. It focuses on the construction industry because research indicates that it has higher than average rates of worker alcohol and drug abuse-a serious concern given that it also is among the industries with the highest rates of workplace accidents and injuries. But because drug-free workplace programs benefit all workplaces, employers and employees in all industries, not just construction, are encouraged to take part in Drug Free Work Week.

WHAT REAL ESTATE PROFESSIONALS CAN DO

Real estate professionals often face the same problems as other industries when it comes to substance abuse related issues. In other professions such as attorneys, there are often employee assistance type programs available from state and local associations or even individual firms. However, real estate agents often do not have access to employee assistance type programs.

Here are a few ideas from the Drug-Free Work Alliance:

* Implement a Drug-Free Workplace Program - Develop a Drug-Free Workplace Program at the association or brokerage levels. For more information on starting a Drug-Free Workplace Program, visit www.dol.gov/workingpartners. This website offers detailed guidance on how to develop a Drug-Free Workplace Program starting with a written policy.

* Promote your Drug-Free Workplace Program - If your association or brokerage already has a Drug-Free Workplace Program or employee assistance type program promote the programs by distributing a copy of your drug-free workplace policy to all real estate agents and brokerage employees.

* Train Managers - As part of the Drug Free Work Week, associations or brokerages can provide training to team leaders and sales managers to identify and deal with real estate professionals who have performance problems that may be related to alcohol and drug use, including clearly identifying where real estate professionals should be referred to for assistance.

* Educate Real Estate Professionals - As a part of the Drug Free Work Week, associations or brokerage might consider holding seminars on time management, stress management, financial planning and substance abuse.

* Develop or Publicize Employee Assistance Progrmas - If your association or brokerage has an employee assistance type program, remind real estate professionals about these programs. Employee assistance programs often offer free or low cost services to assist employees to resolve personal and workplace problems, including alcohol and drug abuse. If your association or brokerage doesn't offer an employee assistance type program, consider developing such a program even if it only consists of educational programs, self-assessment materials, and lists of local treatment programs and other resources.

* Encourage the Use of Self-Assessement Programs - Encourage real estate professionals to perform private self-assessments such as confidential, self-administered online screening tools available at www.AlcoholScreening.org.

* Compile a List of Local Resources - Whether or not your association or brokerage has an employee assistance type programs, develop a list of local resources. To locate resources in your community, visit www.findtreatment.samhsa.gov or phone 1-800-662-HELP. Also, self-help programs such as the 12-step programs of Alcoholics Anonymous and Al-Anon are free and available nationwide.

* Review Health Insurance Plans - If your association or brokerage offers a group health plan or provides referrals to health insurance providers, suggest insurance companies and policies that provide coverage for substance abuse assessment and treatment.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Meet Our Preferred Lender - New Castle Home Loans / Chicago Office

Mon, 19 Oct 2009 01:50:44 -0500

INTRODUCTION TO OUR PREFERRED LENDER

For those readers and subscribers in need of a home loan, I wanted to take this opportunity to introduce Jim Quist and New Castle Home Loans as one of our preferred lenders. New Castle Home Loans was formed in 2003 and has experienced steady growth with offices in Chicago, Illinois, Lombard, Illinois, and St. Louis, Missouri. Over the years, New Castle Home Loans has established a strong niche in offering loan products for new construction and conversion project in Chicago, Illinois and St. Louis, Missouri.

HOW WE SELECT OUR PREFERRED LENDERS

At PREA Signature Realty, we base our recommendations and make referrals to lenders and other service providers based solely on the service that they provide to our customers. We have a longstanding policy that prohibits our agents from receiving any direct or indirect compensation from our preferred service providers.

When we make a recommendation or referral to a lender, we are looking for three main things from our lenders:

Competitive Pricing with No Hidden Fees and No Junk Fees
Extensive Experience and Access to a Wide Array of Loan Products
Superior Customer Service and Communication

WHY CHOOSE NEW CASTLE HOME LOANS

Since 2005, we highly recommended New Castle Home Loansto our developer client in St. Louis. When we started PREA Signature Realty in 2008, we continued the relationship and designated New Castle Home Loans as one of our preferred lenders. Here are some of the reasons we designated New Castle Home Loans as one of our preferred lenders:

Competitive Pricing - Low Interest Rates, Standardized Fees, and No Junk Fees
Loan Officers with Extensive Experience and Product Knowledge
Access to Wide Array of Loan Products from over 50 National and Regional Lenders
Streamlined, Simplified Online Loan Application Process
Constant Communication - Providing Our Agents with Automated Notifications regarding Each Step in the Loan Process
Internal Underwriting of Loans
Identifying and Anticipating Issues based on Familiarity and Experience with New Construction, Conversion and Condominium Projects
Clear Explanation of Loan Options - Allowing for Informed Consumer Decisionmaking
Superior Customer Service
No Surprises - Rates/Fees Quoted are Rate/Fees Delivered
On-Time Closings with No Funding Delays

CUSTOMER TESTIMONIALS

Here are a few testimonials from agents and customers who have used New Castle Home Loans:

Heather Gustafson, CMK Realty-Chicago: "NewCastle is one of the best that we have ever dealt with. Our buyers report that they have the lowest rates and best service. NewCastle is CMK's preferred lender and based on our experience, we recommend NewCastle Home Loans to any broker, agent or real estate developer."
Stuart Schwartz, @ Properties-Chicago: "Jim, Another great job! Every customer I refer to you closes on time and without problems-- Happy customers make my job easier."
Ryan Shaughnessy, PREA Signature Realty-St. Louis: "We want our buyers to use NewCastle, especially on our condominium conversion projects. They just make it easier--for the customer and us. NewCastle always closes on time and the money is always there--with no surprises."
Doug Bailey, Chicago: "Jim, You did such an outstanding job for me that I plan to let everyone know when they ask about a mortgage lender. Thank you for all of your help."
Liz Reger, Ideal Location-Chicago: "I've been a Realtor for over 10 years and I refer my buyers and anyone that has a question about a mortgage to Jim Quist at NewCastle Home Loans. I also finance my own primary and investment properties through Jim."
Frank Dixon, Oak Park: "Our real estate agent recommended NewCastle and she was right when she said they are great to work with. NewCastle made the whole process easy, gave us the lowest interest rate with no junk fees--and there were no surprises at the closing table. When someone I know is buying or refinancing, I tell them to call NewCastle."

CONTACT INFORMATION

Loan Officer: Jim Quist
Office: 2349 N. Elston Avenue, Chicago, IL 60614
Telephone: 888-570-7283
E-Mail: jquist@newcastlechicago.com
Website: www.newcastlechicago.com
Apply Online

On behalf of PREA Signature Realty, we wanted to say thank you to New Castle Home Loans for underpromising and overdelivering on their mortgage services.

Interested in Purchasing a Single Family Home, Townhome, Condominium or Loft in Lafayette Square? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

________________________________________________________________________________________________

PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Where is the Federal First-Time Home Buyer Tax Credit Producing the Most Sales? You Guessed It - California, Florida and Texas

Sun, 18 Oct 2009 23:28:43 -0500

FEDERAL FIRST TIME HOME BUYER TAX CREDIT USAGE (AS OF AUGUST, 2009)

Recently, there has been impassioned pleas from the HBA, NHBA, NAR and other trade organizations seeking the extension of the $8,000 Federal First-Time Home Buyer Tax Credit ("Federal Tax Credit"). Often, we receive questions as to how the Federal Tax Credit is impacting sales in the St. Louis area. Although the statistics vary based on their source, the U.S. Treasury released its August report which indicates that three states - California, Florida and Texas - accounted for 72% of the sales transactions in the nation utilizing the Federal Tax Credit. In Missouri, there has been a modest use of the tax credit with 6,615 closed sales transactions (or 5% of the total national closed sales transactions).

Here are the states with 6000 or more closed sales transactions using the Federal Tax Credit:

Here are the state by state breakdown of closed sales transactions using the Federal Tax Credit:

State	# of Sales using Tax Credit	% of Total Sales using Tax Credit
Alabama	5046	2%
Alaska	485	0%
Arizona	9357	3%
Arkansas	3021	1%
California	42,304	13%
Colorado	6210	2%
Connecticut	2230	1%
Delaware	861	0%
District of Columbia	471	0%
Florida	29,132	9%
Georgia	11,109	4%
Hawaii	488	0%
Idaho	2457	1%
Illinois	9918	3%
Indiana	5866	2%
Iowa	3455	1%
Kansas	3147	1%
Kentucky	4105	1%
Louisiana	4353	1%
Maine	931	0%
Maryland	5022	2%
Massachusetts	4548	1%
Michigan	9237	3%
Minnesota	6964	2%
Mississippi	2949	1%
Missouri	6615	2%
Montana	1041	0%
Nebraska	2771	1%
Nevada	5259	2%
New Hampshire	1062	0%
New Jersey	5500	2%
New Mexico	1466	0%
New York	8076	3%
North Carolina	9355	3%
North Dakota	659	0%
Ohio	9172	3%
Oklahoma	4300	1%
Oregon	3565	1%
Pennsylvania	10,250	3%
Rhode Island	964	0%
South Carolina	4684	1%
South Dakota	886	0%
Tennessee	8549	3%
Texas	29,536	9%
Utah	4623	1%
Vermont	351	0%
Virginia	9093	3%
Washington	6229	2%
West Virginia	788	0%
Wisconsin	5202	2%
Wyoming	648	0%
zz - Armed Forces	177	0%
zz - Foreign	10	0%
zz - U.S. Possessions	8	0%
Total Sales	314505	100%

TAX CREDIT STRATEGIES

The $8,000 Federal First-Time Home Buyer Tax Credit is set to expire on November 30, 2009. To meet the deadline, it important to get a home under contract almost immediately. However, there are other opportunities to take advantage of the Federal Tax Credit that can close in a shorter timeframe than a sales transaction using conventional or FHA financing. Here are some examples from the St. Louis market:

100% Developer Financing
90% Seller Financing
Short-Term Financing

For those who have started the process late, there are still some great opportunities to take advantage of Federal Tax Credit.

Interested in taking advantage of the Federal Tax Credit in St. Louis, Missouri? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 to explore alternate tax credit strategies.

________________________________________________________________________________________________

PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

First-Time Home Buyers Benefit from Recent Market Trends - Is It Time to Buy My First Home?

Fri, 16 Oct 2009 01:12:36 -0500

THE QUESTION - TO BUY OR NOT TO BUY

Recently, a first-time home buyer asked "Is now the time to buy my first home?" Well, there is no simple answer to this complex question. Real estate professionals aren't necessarily the best equipped to predict future economic conditions. However, real estate professionals do monitor current trends as well as historical trends in local, regional, and national real estate markets.

NATIONAL TRENDS INDICATE THAT THE TIME TO BUY IS NOW

Presently, there are three key national trends which provide support for the position that now is the time to buy:

Housing Affordability Index: The National Association of Home Builders recently released its Housing Opportunity Index which showed that 72.3% of all new and existing homes homes sold in the second quarter of 2009 were affordable to families earning the national median income of $64,000 using standard underwriting criteria. Compared to 2008, this represents a strong positive change from 55% in the second quarter of 2008 to 72.3% in the second quarter of 2008.

Interest Rates: The average interest rate for a fixed 30 year loandipped below 5% in 2009 and is now at historic lows. Since 2000, interest rates have declined from over 8% to below 5%. In practical terms, this means that purchasers can afford more home for the same monthly payment. For example, a purchaser today who borrows $200,000 at a fixed 30 year interest rate of 5% would pay a monthly payment of $1073. In contrast, a purchaser who borrowed $200,0000 in 2000 at a fixed 30 year interest rate of 8% would have paid a monthly payment of $1467. Or stated differently, today's purchaser can obtain a $200,000 loan at the same monthly cost as what a purchaser in 2000 would have paid for $165,000 loan.

National Median Prices: Since 2006, the national median priceshave declined. In 2009, national median prices appear to have stabilized with a slight increase in the second quarter of 2009. Now, there is no guarantee that prices will rise in 2010 and beyond. However, it does appear that prices have stabilized and may show a modest increase in 2010.

THE $8,000 FEDERAL FIRST-TIME HOME BUYER TAX CREDIT

The $8,000 federal tax credit for the purchase of new homes by first-time home buyer represents a unique opportunity. It is especially attractive for young professionals and recent graduates. Depending on the loan amount, the tax credit could be used to pay between 7 to 20 monthly loan payments for the typical first-time home buyer. Here are some examples:

$75,000 Loan- Monthly Payment $403 - 20 Mortgage Payments
$100,000 Loan - Monthly Payment $536 - 15 Mortgage Payments
$150,000 Loan - Monthly Payment $806 - 10 Mortgage Payments
$200,000 Loan - Monthly Payment $1073 - 7.5 Mortgage Payments

With favorable pricing, historically low interest rates, and the federal tax credit, I can only conclude that NOW is the time to buy for the average first-time home buyer.

INTERESTED IN PURCHASING YOUR FIRST HOME? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com to discover how easy it can be to purchase your first home.

________________________________________________________________________________________________

PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Building a Strong Internet Presence by Blogging - Real Topics that Drive Traffic and Generate Leads

Mon, 12 Oct 2009 18:31:41 -0500

BLOGGING AS AN INTERNET MARKETING STRATEGY

When it comes to building an internet marketing presence, real estate agents should have a multi-prong strategy that includes a brokerage website, an agent website, a blog, listing feeds to search portal sites, participation in forums, and social networking sites. Despite the growing popularity of blogging as a marketing tool by businesses generally, real estate agents still appear to be reluctant to embrace blogging as a marketing strategy to build their internet presence. In the 2009 NAR Technology Survey, 8% of Realtors viewed "blogging" as "important" for generating leads whereas 20% of Realtors viewed "blogging" as "unimportant".

WHY BLOGGING DOESN'T GENERATE LEADS (FOR SOME)?

So, why are Realtors so reluctant to embrace blogging as an internet marketing strategy? In speaking at sales meetings at brokerages in the St. Louis area, I often receive two common responses to this question:

Category 1: I often get comments that seem to indicate that real estate agents are intimidated by blogging. The comments range from "I don't write well..." to "I don't have any great insights to offer" to "I don't have time to write articles" to "I don't know where to start" to "My broker doesn't provide us with a blogging platform."
Category 2: I often get comments that bluntly claim that "blogging" simply doesn't work. Often, these comments start with "I tried it for a month..." and end with "it didn't generate any leads or income."

There is often a common thread to these discussions. In both cases, the failure to start blogging and the failure to continue blogging often is directly related to the failure to develop a blogging strategy, the failure to identify your target audience, and the failure to write dynamic posts. Add into the mix the use of an inferior blog platform, the failure to understand keywords and the basics of search engine optimization, the failure to integrate your blog into your other marketing plans, lack of commitment, and poor execution - and you have a pretty good recipe for a disastrous, time wasting experience with blogging.

WHAT BLOG POSTS GENERATE LEADS?

Now, after my first 12 months of blogging, I decided to look back upon my 400 blog posts in an attempt to determine what topics seemed to generate views and comments, what topics seemed to elicit a comment or inquiry, and what topics seemed to generate traffic to my website, active leads and even commission income. In conducting this unscientific review, there seemed to be certain categories that generated more interest. However, interest in the form of comments and business generated from the post often were not mutually exclusive or even related. Some of my posts that received few or even no comments often were the posts that generated substantial or meaningful traffic to my website, active leads and even commission.

So, after reviewing my posts, I found that almost all of my posts could be placed in one or more of the following categories:

#1 - HyperLocal Neighborhood Posts: These posts focus on a single city, neighborhood or even street and ranged from market reports and available properties to neighborhood news and events. Often, these posts received the fewest number of comments. However, these posts generated the most inquiries, leads and income.
#2 - Market Reports - These posts focus on market statistics ranging from single year reports to ten year summaries on existing home sales, housing starts, and more. These posts generated the least number of comments but delivered the most traffic to our website.
#3 - Legislative/Regulatory Update Posts: These posts focus on regulatory and legislative issues on national, state and local levels and ranged from annual legislative updates to commentary on pending legislative proposals to summaries of current regulatory changes - particularly related to FannieMae and FHA lending guidelines. Often, these posts had the largest number of comments which developed into a healthy debate on the issues at hand. Although these posts didn't seem to interest consumers in general, the posts did generate interest from other real estate professionals - particularly on LinkedIn Groups.
#4 - Business Profile Posts: These posts focus on restaurant reviews, profiles of neighborhood businesses and an occasional interview with a neighborhood leader. These posts provided some of greatest exposure for our brokerage. More importantly, these posts developed relationships resulting in some joint marketing and referral business and enhanced our reputation as neighborhood specialists. Also, these posts served as good content for customers who were relocating to the neighborhoods that we serve.
#5 - "How to" Instructional Posts: These posts focus on sales training, technology, and social networking sites. Often, these were multi-part series. These posts were the most highly read by my own agents, assisted in the recruitment of new agents, and resulted in a number of speaking engagements with professional associations, civic groups, and other real estate brokerages, title companies, and other real estate professionals. These posts served as great introductions to other real estate professionals in the area.
#6 - Research Posts: These posts were based on real estate related research studies conducted on a range of issues. Often, these posts were related to current events or trends and included commentary that often generated widely divergent opinions on the validity of the studies, missing data, etc. These posts generated interviews and inquiries from journalists.
#7 - Either/Or Posts: These posts were generally designed to compare and contrast particular services, loan programs, etc. These posts didn't seem generate too many inquires but were well received by existing customers and clients.
#8 - Reblog or Link Posts: These posts were often used because of time constraints, involved a specialized field, or were just so well-written that they needed to be disseminated to my readers in their original form.
#9 - Lists/Best Of Posts: These posts focus on top or best of lists prepared by national news magazines, foundations, etc. It is difficult to determine the impact of these posts had - except that they promoted the areas that we serve.
#10 - Best Practice Posts: These posts generally started as "rants" and were often toned down after further reflection. Occasionally, these were direct or indirect responses to other posts read on a specific issue. Although these posts weren't intended to generate direct business, these posts were extremely effective in explaining our business philosophy and practices.
#11 - Motivational Posts: These posts were often focused on staying motivated in a down market. Again, they didn't seem to generate much business. However, often they were the most enjoyable to write and were often used in connection with sales meetings.
#12 - Satire Posts: These posts were intended to highlight specific positions and to tell a story using a combination of humor and sarcasm.
#13 - Informational Posts: These posts generated a good deal of non-real estate related business and often suffered from being too technical or too long. However, these posts used hypothetical situations to describe how such situations and issues could or should be addressed. The posts often explained our approach and problem solving skills.
#14 - Video/Photo Posts: These posts generated occasional requests for re-use of the photos. If we were grading these posts, we would probably give it an incomplete. Too few posts to truly get a good read on the impact that they could have.
#15 - Listings Posts: These posts were difficult to track when using Html from other sources. When the posts were based on direct content as opposed to html code, the posts improved our placement for select keywords on Google search results.
#16 - Public Service Announcements: These posts were intended solely to show support for a particular issue. Often, they were only tangentially related to real estate. However, they were intended and received as "we care about you" statements.

So, before you say blogging doesn't work, first answer this question: Did you post original content for a clearly defined audience with a good value proposition and a concise call to action that offered a personal insight, a tangible benefit for the reader, or an interesting, unusual or controversial slant on a current event or issue? If you can't answer "yes", then the blogging experiment may have failed because of poor execution or planning and not because blogging is "unimportant" as a marketing tool.

If you are a real estate professional and are new to blogging, the time is now to sign-up for an ActiveRain blog. There is no better real estate community or more supportive blog platform to learn the basics of blogging and discover some great tips on how to make blogging work for you and your business.

Need a speaker to discuss the blogging and lead generation for real estate professionals? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.

________________________________________________________________________________________________

PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Townhomes for Sale in Lafayette Square - Mississippi Place - 1618 Mississippi

Mon, 12 Oct 2009 00:25:00 -0500

INTERESTED IN TOWNHOMES FOR SALE IN LAFAYETTE SQUARE?

The elegant new townhomes at Mississippi Place are now for sale in the heart of Lafayette Square at the corner of Mississippi Avenue and Lafayette Avenue across from Lafayette Park.

WELCOME TO MISSISSIPPI PLACE - OLD WORLD CHARM WITH CONTEMPORARY FINISHES

Nothing in Lafayette Square compares with the details and luxury offered by the new townhomes at Mississippi Place. The classic, stately exterior designs created by Gilded Age in conjunction with The Lawrence Group are based on the turn of the century mansions originally located on the site and blend seamlessly into the surrounding Victorian homes of the Lafayette Square Historic District. Developed by Gilded Age for a premier location at the corner of Mississippi and Lafayette Avenues across from Lafayette Park, these units offer authentic, historic exterior facades and contemporary interiors with the finest in amenities and high-end luxury finishes. Customization of the townhome interiors at Mississippi Place is available for a limited time. Why buy an existing home - when you can build your dream home?

EXPERIENCE LAFAYETTE LIVING TODAY!

Why just buy a new home when you can experience a new lifestyle? These new residences are located in Lafayette Squareacross from Lafayette Park. Just outside your door, you have tree-lined streets, the beautiful 30-acre Victorian Lafayette Park, and the shops, restaurants and outdoor cafes of Lafayette Square. Whether you work in Clayton or Downtown St. Louis, this convenient location with immediate access to Highways 44, 64, 70 and 55, offers an easy commutes to and from work.

This new home community in Lafayette Square offers all of the little things that you want in a home and neighborhood and more!

MISSISSIPPI PLACE - CURRENT PRICING AND AVAILABILITY

For Mississippi Place, there is one townhome and one carriage house available for immediate delivery. The townhomes marked "8 weeks: have been constructed and are simply awaiting selections such as cabinets, countertops and appliances. The townhomes marked "24 weeks" are townhomes and the carriage house that have not been constructed or have only had foundations poured.

Unit	Model	Bldg	Current Status	Current Price	HOA Fees	Sq.Ft.	# BR	# BA	Fireplace	View
MP-1906(R)K	Carriage House 1	Bldg 1 K3	Immediate Availability	$249,500	$150	1237	1	1.5	No	Alley
MP-1905(R)L	Carriage House 2	Bldg 6 L6	24 Weeks	$380,000	$150	1627	1	1.0	Yes	Alley
MP-1907L	Lafayette Manor House	Bldg 6 L5	24 Weeks	$464,000	$45	2454	2	3	Yes	South
MP-1909L	Lafayette Manor House	Bldg 6 L4	24 Weeks	$449,000	$45	2371	2	3	Yes	South
MP-1911L	Victorian Parlor	Bldg 5 L3	8 Weeks	$399,000	$45	2088	2	4	Yes	South
MP-1610M	Victorian Parlor	Bldg 3 M3	24 Weeks	$448,000	$45	2115	2	4	Yes	West-Park View
MP-1612M	Victorian Parlor	Bldg 3 M4	24 Weeks	$448,000	$45	2115	2	4	Yes	West-Park View
MP-1618M	Victorian Parlor	Bldg 4 M6	Immediate Availability	$476,000	$45	2300	2	4	Yes	West-Park View

Mississippi Place Sales Brochure (Lafayette Square)

View more documents from Ryan Shaughnessy.

FEATURES - VICTORIAN PARLOR FLOOR PLAN

The Victorian Parlor Model Offers the Following standards and options:

Exterior Facade: Brick / Dryvit EFIS with exterior drain system (where noted on plans).
Front Entry: Solid wood entry door with mail slot, deadbolt lock and transom. Architectural columns and/or ceramic tile in foyer (where noted on plans).
Parlor: Hardwood floors. Fireplace and wood mantle. Above-mantle wiring for cable/satellite television. Built-in bookcases (upgrade). Crown molding. Coat closet.
First Floor Powder Room: First floor laundry with exterior vent. Half-bath powder room. Ceramic tile floor.
First Floor Stairs: Hardwood stairs with painted risers.
Kitchen: Ceramic tile floor (Upgrade-hardwood floor). 3 cabinet options. Cabinet layouts will vary based on unit, location of windows and cabinets selected (Upgrade-wine rack). Black Maytag dishwasher, gas stove and microwave with hood vent (Upgrade-stainless steel JennAir). Granite countertops (Base-Grade A, Upgrade-Grade B). Stainless double bowl sink with disposal. Pendant lighting and under cabinet lighting (Upgrade-over cabinet lighting).
Living Room/Dining Room: Hardwood floors. Fireplace and wood mantle. Above-mantle wiring for cable/satellite television. Crown molding.
Master Suite and Bathroom Areas: Premium carpet and pad (master bedroom). Ceiling fan. Walk-in closet. Juliette balcony. Ceramic tile (bathroom). Jacuzzi soaking tub (Upgrade-whirlpool jets) and separate shower with glass enclosure and ceramic tile surround. 3 ceramic tile surround options (Base-12x12 tiles, Upgrade 1-brick style, Upgrade 2-x8 tile). Granite countertops (Base-Grade A, Upgrade-Grade B). Under mount sinks. Crown molding (upgrade).
Second Floor Stairs: Carpeted stairs.
Third Floor Bath: Jack-n-Jill bathroom with entry from hall. Granite countertops with under mounted sink. Tub with ceramic tile surround. Ceramic tile floor.
Third Floor Guest Room: Premium carpet and pad. Walk-in closet.
Energy Efficiency: Double-pane thermal wood windows with easy to clean removable sashes. R-30 ceiling insulation. R-13 wall insulation. Energy efficient gas furnace, gas water heater and central air.
Cabinets: Manufacturer-Quality Cabinets. Base-Bristol (Maple). Upgrade 1-Hancock (Maple). Upgrade 2-Jamestown (Maple).
Lighting: $1,000 lighting allowance from Metro Lighting.
Other: Oversized 2-car garage; deck (upgrade); and poured concrete basement.

FEATURES - LAFAYETTE MANOR FLOOR PLAN

The Lafayette Manor House Model offers the following standards and options:

Exterior Facade: Brick / Dryvit EFIS with exterior drain system (where noted on plans).
Front Entry: Solid wood entry door with mail slot, deadbolt lock and transom. Ceramic tile in foyer (where noted on plans).
First Floor Powder Room: Granite countertops. Ceramic tile floor.
Kitchen: Ceramic tile floor (Upgrade-hardwood floor). 3 cabinet options. Cabinet layouts will vary based on unit, location of windows and cabinets selected (Upgrade-wine rack). Butler's pantry. Kitchen pantry. Black Maytag dishwasher, gas stove and microwave with hood vent (Upgrade-stainless steel JennAir). Granite countertops (Base-Grade A, Upgrade-Grade B). Stainless double bowl sink with disposal. Under cabinet lighting (Upgrade-over cabinet lighting).
Living Room and Separate Dining Room: Premium carpet and pad (Upgrade-hardwood floors). Fireplace and wood mantle. Above mantle wiring for cable television. Crown molding.
First Floor Stairs: Hardwood stairs with painted risers.
Master Suite and Bathroom Areas: Premium carpet and pad (master bedroom). Ceiling fan. Walk-in closet. Ceramic tile (bathroom). Jacuzzi soaking tub (Upgrade-whirlpool jets) and separate shower with glass enclosure and ceramic tile surround. 3 ceramic tile surround options (Base-12x12 tiles, Upgrade 1-brick style, Upgrade 2-4x8 tile). Granite countertops (Base-Grade A, Upgrade-Grade B). Under mount sinks. Crown molding (optional).
Second Floor Stairs: Carpeted stairs.
Laundry: Second floor laundry with exterior vent.
Second Floor Bath: Bathroom off second floor hallway. Granite countertops with under mounted sink. Tub with ceramic tile surround. Ceramic tile floor.
Third Floor Room: Premium carpet and pad. (Special Request: 3rd Bedroom).
Energy Efficiency: Double-pane thermal wood windows with easy to clean removable sashes. R-30 ceiling insulation. R-13 wall insulation. Energy efficient gas furnace, gas water heater and central air.
Cabinets: Manufacturer-Quality Cabinets. Base-Bristol (Maple). Upgrade 1-Hancock (Maple). Upgrade 2-Jamestown (Maple).
Lighting: $1,200 lighting allowance from Metro Lighting.
Other: Oversized 2-car garage; deck (upgrade); and poured concrete basement.

FEATURES - CARRIAGE HOUSE FLOOR PLANS

The Carriage House Models offer the following standards and options:

Exterior Facade: Brick.
Front Entry: Solid wood entry door with mail slot, deadbolt lock and transom. Ceramic tile in foyer (where noted on plans). Carriage House 1: 2-story open loft area (Carriage House 1 only). Carriage House 2: Elevator lobby.
First Floor Powder Room (Carriage House 1 only): Granite countertops. Ceramic tile floor. (Carriage House 1 only).
Kitchen: Ceramic tile floor (Upgrade-hardwood floor). 3 cabinet options. Cabinet layouts will vary based on unit, location of windows and cabinets selected (Upgrade-wine rack). Kitchen island. Black Maytag dishwasher, gas stove and microwave with hood vent (Upgrade-stainless steel JennAir). Granite countertops (Base-Grade A, Upgrade-Grade B). Stainless double bowl sink with disposal. Under cabinet lighting (Upgrade-over cabinet lighting).
Living Room/Dining Room: Premium carpet and pad (Upgrade-hardwood floors).
First Floor Stairs: Hardwood stairs with painted risers.
Master Suite and Bathroom Areas: Premium carpet and pad (master bedroom). Ceiling fan. Walk-in closet(s). Ceramic tile (bathroom). Shower/tub combination with ceramic tile surround. 3 ceramic tile surround options (Base-12x12 tiles, Upgrade 1-brick style, Upgrade 2-4x8 tile). Granite countertops (Base-Grade A, Upgrade-Grade B). Under mount sinks. Crown molding (upgrade).
Laundry: Second floor laundry with exterior vent.
Energy Efficiency: Double pane thermal wood windows with easy to clean removable sashes. R-30 ceiling insulation. R-13 wall insulation. Energy efficient gas furnace, gas water heater and central air.
Cabinets: Manufacturer-Quality Cabinets. Base-Bristol (Maple). Upgrade 1-Hancock (Maple). Upgrade 2-Jamestown (Maple).
Lighting: $800 lighting allowance from Metro Lighting.
Other: Oversized 1-car garage; sprinkler system; deck (upgrade); and elevator (Carriage House 2 only).

HOA INFORMATION - ENJOY THE BENEFITS OF SINGLE FAMILY OWNERSHIP WITH THE CAREFREE LIFESTYLE PROVIDED BY ASSOCIATION LIVINGLegal Status: Mississippi Place is a planned unit development consisting of 14 fee simple townhomes and 4 condominium units.

HOA Associations: At Mississippi Place, there are two separate associations. There is a subdivision association in which all unit owners are members. There is also a condominium association in which the owners of units K2, K3, L4 and L6 are members. The condominium units include the Carriage House units as well as the garages for two of the Lafayette Manor House units.
HOA Association Fees: The current subdivision fee is $45 per unit per month. The current condominium fees are $175 per unit per month (includes the subdivision fee). The difference in the fees is based primarily on the fact that condominium fee includes joint building maintenance and property insurance.
HOA Services: The subdivision association fee includes the following services: Sewer, water, lawn mowing (front lawns only), landscaping, snow removal, in-ground sprinkler system, maintenance of common areas (i.e., entry monuments, interior streets or driveways, sidewalks and sprinkler system). The condominium fee includes the following additional services: Property insurance and exterior building maintenance.
Restrictions: Ownership of the units is conveyed subject to the subdivision restrictions, including facade restrictions. All exterior modifications (including paint color selection) must be approved by the subdivision association.

THE DETAILS - CONTRACT, SELECTIONS, WARRANTY & COMMISSION PROGRAMS

Sales Contract: Purchase offers on completed units and units with selections only may be submitted on SLAR residential sales contract. Purchase offer on custom homes or on homes to be built must be on Gilded Age pre-construction sales contract.
Display: The display located at 1618 Mississippi includes base grade and upgrade materials as well as special request options. For example, kitchen cabinet layout is upgraded cabinet plan. Before submitting sales contract, contact your Sales Associate to discuss interior finishes on non-display units.
Pricing: Select units may have upgrade or optional items already installed. Whether designated as a base, upgrade or optional item, costs of items already installed are included in the stated sales price. Refrigerators, washers and dryers are for "display purposes only" and are not included in the sale.
Floor Plans: Floor plans and the dimensions located thereon are representative of the base floor plan for the model unit. Actual dimensions, window locations, entry door location and related items vary based on lot/unit selected.
Custom Interiors: Customization of interiors and combination of unconstructed units into one single unit are available options for limited time only. Gilded Age is pleased to price custom products and to discuss changes in floor plans upon execution of sale contract contingent upon customer review of conceptual floor plans and preliminary pricing.
Selections: Gilded Age offers 2 hours of interior designer time for selection of interior finishes.
Commission: Gilded Age offers a 2.8% commission as well as other incentive programs to cooperating real estate agents. Real estate agents must register customers at or prior to time of first showing.
Warranty: Mississippi Place offers 1 year homeowner's warranty and 10-year warranty on EFIS. drainage system warranty.

MISSISSIPPI PLACE - SHOWING INFORMATION

Display: The display for Mississippi Place is located at 1618 Mississippi Avenue and is open 11:00 a.m. to 2:00 p.m. on weekdays and 12:00 to 4:00 p.m. on weekends. On weekdays, duty agent covers multiple properties. Appointments are suggested to avoid conflicts with scheduled showings.
Showing Appointments: To schedule a showing, contact the sales office at 314.771.7171 or Michelle S. Silies, Managing Broker of PREA Signature Realty, at 314.397.3182. Agents may schedule appointments with 1 hours notice using MLS Showing Assist with automatic appointment confirmations from 10 a.m. to 5 p.m.
Directions: From North: Highway 70 to Highway 44. Exit at Jefferson Avenue. North/right to first light and then right on Lafayette. Left on Mississippi. From South: Highway 55 to Truman Parkway exit. West/left on Lafayette. Right on Mississippi. From Southwest: Highway 44 to Jefferson Avenue exit. Left on Jefferson. Right on Lafayette. Left on Mississippi. From West: Highway 64 to 14th Street. Right on 14th Street. Right on Lafayette. Right on Mississippi. From East: Highway 64 across Poplar Street Bridge. South on Highway 55. West on Highway 44. Exit Jefferson Avenue. Left on Jefferson. Right on Lafayette. Left on Mississippi.
Other New Communities in Lafayette Square: Visit Gilded Age's other developments in Lafayette Square including The Georgian-1515 Lafayette, The Union Club-2340 Lafayette, and Eden Lofts-1720 Chouteau.

CONTACT LISTING AGENT

Interested in purchasing a single family home, townhome, condominium or loft in Lafayette Square?

Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or by e-mail to Ryan@PREASignatureRealty.com. Additional information (including floor plans for all units) can be found on our website at www.PREASignatureRealty.com or the Developer's website at www.Gilded-Age.com.

Interested in receiving new and existing listing information, notice of price reductions, etc. for single family homes, townhomes, condominiums or lofts in Lafayette Square?

Don't miss out on the great opportunities to purchase a home in Lafayette Square. Simply fill-out the housing survey below and you will receive listing information (including new listings and price reductions) via e-mail or via a private MLS portal. The search includes all MLS listings and is updated hourly with expired, cancelled and sold listings automatically removed so you never have to worry about whether or not the listing is still available. This service is provided by PREA Signature Realty as a courtesy at no cost to you. We will never contact you via telephone. When you are ready to start searching for your new home in Lafayette Square, simple call or e-mail us and we will be ready to assist you with your home search.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

The St. Louis Multiple Listing Service Partners with Point2Agent to Offer a New Syndication Platform to St. Louis Real Estate Agents and their Customers

Sat, 10 Oct 2009 23:14:36 -0500

MLS REAL ESTATE SYNDICATION

The Mid-America Regional Information Systems ("MARIS"), the local multiple listing service for the St. Louis metropolitan area, has now provided a new marketing tool for real estate agents and their customers in the St. Louis area. MARIS now provides a real estate syndication platform that allows real estate agents to syndicate or feed their MLS listings to 27 aggregator and real estate portal sites like Trulia, Cyberhomes, Yahoo Real Estate, Google Base, Oodle, FrontPage, Zillow, Hotpads, and more. The biggest change is that data for these additional sites no longer has to be sent by a separate feed or manually entered into the 27 separate sites.

This new marketing tool is an opt-in system so it will vary from brokerage to brokerage and agent to agent. The new real estate syndication platform is powered by Point2Agent.com. PREA Signature Realty has opted-in to the use of the real estate syndication platform provided by MARIS. The new platform is powered by Point2Agent.com. For customers of PREA Signature Realty, you will see no change in where your listings appear. PREA Signature Realty has always used real estate syndication to maximize exposure of our customer's listings on the internet and has regularly used the Point2Agent.com platform as one part of our internet marketing strategy. The new MARIS provided platform will eliminate the need for our brokerage to set up a separate listing feed to these sites and/or agents will no longer have to manually enter information into the Point2Agent.com site. For our listing customers, you will see no change in the website statistics sent to you and you will still be able to log-in to the Point2Agent.com site to see your statistics at any time between our weekly reporting dates.

In addition, this new marketing tool doesn't present a shift in our internet marketing strategy. PREA Signature Realty will continue to syndicate or place listings on over 500 national, regional and local websites to maximize the exposure of our customer's listings on the internet.

Interested in listing a single family home, condominium or loft for sale or rent in St. Louis, Missouri? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

Other Posts: Real Estate Syndication - An Overview

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

2009 Market Report Update - New Construction Housing Starts in St. Louis (City), Missouri

Tue, 06 Oct 2009 00:56:59 -0500

10 YEAR STATISTICS - ST. LOUIS CITY HOUSING STARTS 2000 TO 2009:

Year	Type	Total - Single Family	% Change - SF	Total - Multi-Family	% Change - MF	Total Permits	% Change - Total
2000	New	149		239		388
2001	New	126	-15.43%	247	3.34%	373	-3.86%
2002	New	138	9.52%	302	22.26%	440	17.96%
2003	New	161	16.66%	950	214.56%	1111	152.50%
2004	New	169	4.96%	371	-60.94%	540	-51.39%
2005	New	393	132.54%	770	107.54%	1163	115.37%
2006	New	329	-16.28%	144	-81.29%	473	-59.32%
2007	New	237	-27.96%	272	88.88%	509	7.61%
2008	New	129	-45.56%	217	-20.22%	346	-32.02%
2009	New	45	-65.11%	119	-45.16%	164	-52.60%
2000	Rehab	143		1050		1193
2001	Rehab	196	37.06%	2165	106.19%	2361	97.90%
2002	Rehab	134	-31.63%	1673	-22.72%	1807	-23.46%
2003	Rehab	248	85.07%	1974	17.99%	2222	22.96%
2004	Rehab	168	-32.25%	2303	16.66%	2471	11.20%
2005	Rehab	280	66.66%	5872	154.97%	6162	149.37%
2006	Rehab	253	-9.64%	3710	-38.81%	3963	-35.68%
2007	Rehab	242	-4.34%	2349	-36.68%	2591	-34.62%
2008	Rehab	156	-35.53%	1279	-45.55%	1435	-44.61%
2009	Rehab	89	-42.94%	658	-48.55%	747	-47.94%

EXPLANATION OF STATISTICAL REPORTS:

The City of St. Louis issues two types of permits for new construction. The "new construction" permits are for new buildings constructed from the ground up. The "rehab" permits are for the complete or gut rehabilitation of existing structures, including such housing starts as condo conversion projects, conversion of multi-family flats to single family, etc. For the purposes of the data, single family includes attached townhomes and multi-family includes condominiums and multi-family projects like apartments.

Commentary:

The graphs tell a remarkable story. The City of St. Louis has experienced a renaissance that has saved some of its great historic buildings by converting local landmarks from industrial, commercial or other institutional uses into residential apartments and condominiums. Here are some of the many problems with drawing broad conclusions based on these statistics:

No Data on End Use: It is difficult to easily track the end use for any permit. For example, a multi-family permit may relate to a for sale condominium or a for rent apartment or even a unit originally intended as for sale and now rented.
No Breakdowns Based on Neighborhood: Housing values vary by neighborhood. The permits are not grouped by neighborhood or zip code. As a result, overbuilding in certain sub-markets could depress sales prices and rental rates in that submarket and have limited or no impact on other submarkets.
No Breakdown on Delivery Dates: The housing permits reflect the dates that the permits were issued and not the dates when the permits were closed out. As a result, the units in large multi-family projects are grouped in a single year even though construction of the units occurred over an 12-24 month period, and the sale of the units occured over multiple years.

However, notwithstanding the limitations in the data, it is pretty clear that some neighborhoods were overbuilt. The overbuilding of certain neighborhoods often had a 4-stage impact on the submarket:

Reduction in sales transactions.
Downward pressure on sales prices as developers reduced prices.
Conversion of projects from for sale projects to projects including rentals.
Downward pressure on rental rates as residential rental inventory increased.

Again, I would caution from drawing any broad conclusions as this phenomen varied greatly based on the strength of the neighborhoods and submarkets. For example, Lafayette Square saw a decrease in volume, but did not experience any decrease in median or average sales prices and, in fact, saw increases in median and average sales prices in 2008.

If you are a developer, lender, resale owner, or purchaser interested in the purchase, sale or rental of a newly constructed single family home, townhome, condominium or loft in the City of St. Louis and desire experienced representation, contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

Data Sources: Home Builders Association of St. Louis and Eastern Missouri and the City of St. Louis Building Division.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

New FHA Guidelines for Condo Loans Eliminating the Spot Approval Process Take Effect on November 2, 2009

Sat, 03 Oct 2009 18:45:35 -0500

Massuchetts attorney Richard Vetstein's recent blog post provides a thorough and easy to read overview of the new FHA condo guidelines which eliminated spot approval. If you are interested in purchasing a condominium to take advantage of the federal first-time home buyer tax credit, this is another reason to act quickly. For loans assigned a FHA case number prior to November 1, 2009, the lenders can still close loans, even after November 1, 2009, using the prior spot approval guidelines.

Interested in purchasing a condominium in St. Louis, Missouri? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

Via Richard Vetstein (Vetstein Law Group, P.C.):

Originally posted on the Massachusetts Real Estate Law Blog

Breaking News: 10/1/09–The FHA Has Delayed Implementation Of New Rules Until November 2, 2009 To Coincide With Expiration of First Time Home Buyer $8,000 Tax Credit

Under revised guidelines which were to be effective October 1, 2009 but now delayed until November 2, 2009, the Federal Housing Administration (FHA) is implementing a new stricter approval process for condominiums to be eligible for FHA financing. Like the Fannie Mae regulations issued earlier in the year, the new FHA guidelines will surely slow down condominium mortgage financing, and negatively impact first time home buyers for condominium units.

For those who don’t know, FHA is a government program designed to help more people buy homes, and more borrowers will qualify with FHA financing than with conventional. It is a low down payment (3.5% down) program and the credit standards are much looser. The mortgage rates are typically better, as well.

To obtain a FHA mortgage on a condominium, the project must be FHA approved. Prior to these changes, there were two ways a condominium could be FHA approved: (1) full project approval, and (2) “spot” approval. Full project approval means that FHA has already done the approval on the entire condominium. Spot approvals were performed on non-FHA approved projects on a loan by loan basis, and were a way to make FHA loans available to home buyers in well run condo projects even if they haven’t gone through the full approval process.

No More Spot Approvals

Under the new guidelines, the popular spot approval process will no longer be available and will be replaced with something called a Direct Endorsement Lender Review and Approval Process (DELRA). FHA claims the DELRA process is more uniform and streamlined that the former spot loan approval process. Also, full project approvals expire every two years, so condominiums will have to re-certify every 2 years.

New Project Eligibility Guidelines

Under the new project eligibility requirements, all condominiums (consisting of 2 or more units) must meet the following requirements:

At least 50% of the units of a project must be owner-occupied or sold to owners who intend to occupy the units. For proposed, under construction or projects still in their initial marketing phase, FHA will allow a minimum owner occupancy amount equal to 50 % of the number of presold units (the minimum presale requirement of 50 percent still applies).

Projects must be covered by hazard and liability insurance and, when applicable, flood insurance.

At least 50% of the total units must be sold prior to endorsement of any mortgage on a unit. Valid presales include an executed sales agreement and evidence that a lender is willing to make the loan.

No more than 15% of the total units can be in arrears (more than 30 days past due) of their condominium association fee payment.

No more than 25% of the property’s total floor area in a project can be used for commercial purposes. The commercial portion of the project must be of a nature that is homogeneous with residential use, which is free of adverse conditions to the occupants of the individual condominium units.

Reserve Study - a current reserve study must be performed to assure that adequate funds are available for the funding of capital expenditures and maintenance. A current reserve study must be no more than 12 months old – if recent events or market conditions have affected the finished condition of the property that information must be included. When reviewing the reserve study, consideration must be given to items that have been replaced after the time that the reserve study was completed. The regulations don't definition of what is "adequate," however. Guidance may be found in the new Fannie Mae guidelines which mandate at least 10% of annual operating budget in reserves.

No more than 10% of the units may be owned by one investor. This will apply to developers/builders that subsequently rent vacant and unsold units. For two and three unit condominium projects, no single entity may own more than one unit within the project; all units, common elements, and facilities within the project must be 100% complete; and only one unit can be conveyed to non-owner occupants.

Rights of first refusal are permitted unless they violate discriminatory conduct under the Fair Housing Act.

Buried in the fine print is a requirement for an affirmative action-type housing plan. For both new construction and conversions, if the developer intends to market 5 or more units within the next 12 months with FHA mortgage insurance (that would be most), an Affirmative Fair Housing Marketing Plan (AFHMP) or a Voluntary Affirmative Marketing Agreement (VAMA) must be in place. An affirmative fair housing marketing plan requires that the racial, socioeconomic, and ethnic composition of the condominium residents closely mirror that of the neighboring area, to the greatest extent possible. Most new condominiums don’t have these in place.

Click here for the new FHA condominium guidelines. You can look to see whether a condominium is approved on the HUD Homes & Communities website located here. Here is the FHA Condominium Mortgage webpage.

The Impact: More Work For Lenders, Condominium Associations/Managers And Attorneys

I expect FHA lenders will approach condominium association boards and managers, asking for certain information, certifications, and even legal opinions regarding compliance with FHA (and Fannie Mae) legal requirements. If a condominium is not on the FHA-approved list, or has lost its approval, condominium associations should consider applying for approval (or re-approval). Reportedly, FHA/HUD is backlogged a month or more in reviewing submitted applications. Thus, should your condominium need to be submitted for approval, keep in mind the process may take some time. Also keep in mind that the work to compile and complete the application package itself can take weeks, and require the board, its manager, and legal counsel to gather data, documents, and expert opinions required for FHA approval. The package of materials that must be submitted can vary from condominium to condominium, and often requires an updated reserve study and certain legal opinions.

Having issued numerous opinion letters and certifications under the similar Fannie Mae condominium regulations, our office is well equipped to assist lenders and buyers with FHA loan compliance issues. Contact rvetstein@vetsteinlawgroup.com for more information.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

2009 Market Report Update - Condos for Sale in St. Louis (City), Missouri

Sat, 03 Oct 2009 02:41:24 -0500

10 YEAR CONDO MARKET STATISTICS - ST. LOUIS CITY, MISSOURI:

Year	# of Sales	% Change	Average	% Change	Median	% Change	Total Volume	% Change
2000	250		$127,766		$107,500		$31,691,380
2001	270	8%	$160,414	25.55%	$135,000	25.58%	$43,311,801	36.66%
2002	284	5.18%	$164,535	2.56%	$148,156	9.74%	$46,727,659	7.88%
2003	423	48.94%	$177,695	7.99%	$164,000	10.69%	$75,164,954	60.85%
2004	450	6.38%	$180,894	1.80%	$166,250	1.37%	$81,402,214	8.29%
2005	548	66.89%	$212,477	17.45%	$185,000	11.27%	$116,437,598	43.03%
2006	751	37.04%	$227,581	7.10%	$203,400	9.94%	$170,913,557	46.78%
2007	743	-1.06%	$239,477	5.22%	$191,900	-5.65%	$177,931,051	4.10%
2008	468	-37.01%	$224,812	-6.12%	$179,000	-6.72%	$105,212,164	-40.86%
2009	380	-18.80%	$212,880	-5.30%	$172,250	-3.77%	$80,894,405	-23.11%
Avg.	456.7	13%	$192,853	6.25%	$165,246	5.83%	$92,968,678	15.96%

Commentary on 2009 City Condo Market:

The 2009 condo market statistics include only sales closed through the 3rd Quarter of 2009 and do not reflect any pending or contingent sales. Currently, there are 106 pending or contingent condo sales totaling over $43,500,000 in sales. In addition, there are favorable sales trends in the $100-200,000 price range which will likely accelerate as the first-time home buyers continue to purchase homes in anticipation of the expiration of the federal tax credit on December 1, 2009. Based on current projections, it appears that the 2009 sales figures will reflect an increase in sales volume - both by dollar and by number of transations - with a slight decrease in the average days on market. In addition, it appears that average sales prices and median sales prices based on pending and contingent sales will rise slightly over 2008 figures.

Currently, condo inventories are generally declining with fewer new construction units coming on or remaining on the market. Notwithstanding the decline in inventory, there remains an oversupply of condos on the market with 577 active listings and absorption rates over 24 months. Given the current market conditions, location, aggressive pricing, and condition/finishes continue to be major factors in selling one's condominium. If you are a condo owner interested in selling a condo for a price below $180,000, there is a narrow window of opportunity as first time home buyers finalize purchase decisions to take advantage of low interest rate and the federal tax credits.

Interested in selling your loft, townhome or condominium in the City of St. Louis? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 to obtain a copy of the complete 2009 Condo Market Report and/or to schedule a free listing consultation.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Missouri Women's Council of Realtors - 2010 Officer Installation Dinner - September 29, 2009

Sun, 27 Sep 2009 20:54:07 -0500

Congratulation to Barbara Keathley on her election as the 2010 President of the Missouri Women's Council of Realtors. The 2010 WCR Officer Installation Dinner is scheduled for September 29, 2009, at the Tan Tara Resort at the Lake of the Ozarks. For more information, click on WCR Reception/Inaugral Dinner.

If you aren't currently a member of the Missouri Women's Council of Realtors, the video below gives just a few of the many reasons to join the Missouri Women's Council of Realtors.

Make an on-line slide show at www.OneTrueMedia.com

++++ PROVIDED COURTESY OF PREA SIGNATURE REALTY ++++

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Blogging Success Story - This Townhome in the Central West End Sold in 72 Hours for 99% of List Price

Fri, 25 Sep 2009 18:44:30 -0500

Looking to sell a condominium or townhome for sale in the Gaslight Square neighborhood of the Central West End?

PREA Signature Realty just LISTED and SOLD this townhome at 4127 Westminster Place in the Gaslight Square neighborhood of the Central West End in 72 hours for 99% of the list price. So, how did it sell so fast? It was a combination of an aggressive pricing strategy, use of video and social networks to market the property, and use of our database to get the word out.

PRICING STRATEGY: To start the process, we searched the MLS for active listings, pending sales, closed sales and expired listings. We used the closed sales as a guide to the price range. We then used the other active listings to position our sale in the range. Contrary to poplular practice, we didn't simply let the seller set an optimistic price on the hope and belief that someone would fall in love with the property and make an offer. We positioned the price of the listing $4,000 and $13,000 respectively under other properties listed for sale in the same development. Here are some of the facts and figures:

COMPARISON	AVG. SQ. FT.	DOM	AVG. SALE PRICE	AVG. PRICE / SQ.FT.
CONDO SALES-12 MOS. HISTORY-1/4 Mile Radius	1241	159	$179,382	$144
WESTMINSTER TOWNHOMES - 12 MOS. HISTORY	1472	363	$178,000	$121
WESTMINSTER TOWNHOMES - AVAILABLE	1254	52	$189,000	$151
4127 Westminster	1216	3	$179,000	$148

Now, there are two important things to notice here. Pricing the property results in a quick sale - this property sold after 3 days on market. Similarly, it garnered immediate interest from multiple parties based on the value proposition created by pricing the property below the other 2 active listings in the neighborhood. The interest garnered resulted in a substantially shorter number of days on market and a sales price that was above average both in terms of the neighborhood and the specific development.

HARNESSING THE POWER OF THE INTERNET AND SOCIAL NETWORKS: Now, others may disagree. However, we have found that the internet, social networks and e-Blasts get the word out quickly about properties we have listed for sale. So, in this case, we moved quickly to get information about the listing out to the public, prior customers, prospects and members of our sphere of influence. Here is the timeline:

Listing Agreement was signed on September 21, 2009 at 6 p.m.
Video presentation was prepared and uploaded to YouTube.com on September 21, 2009 at 10 p.m. and sent out via Twitter, Facebook, LinkedIn and 40 other social networks.
Blog post was uploaded to ActiveRain.com on September 22, 2009, at 12:30 a.m. and sent out via Twitter, Facebook and LinkedIn.
E-mail was sent to database of 1700 prospects on September 22, 2009, at 1:00 a.m.
Property was entered into MLS on September 22, 2009, at 2 a.m.
Tweetlister posted property on Twitter.com on September 22, 2009 at 4 a.m.

In less than 12 hours, we already had 4 showings scheduled for the property. However, it is interesting where the listing was actually viewed.

MLS: 8 Public Views / 39 Agent Views
Point2Agent: 87 Public Views
Company Website: 25 Views
Craigslist: Unknown Views
Backpage: Unknown Views
YouTube: 49 Views
ActiveRain: 85 Views
Twitter: 42 Views
Tweetlister: 25 Views
Facebook: 11 Views
LinkedIn: 42 Views
E-Blast: 62 Views
Hot Sheet E-Blast: 43 Views

Putting it in another perspective, here is a source of views by type of medium:

Websites - 159 Views
Social Networks - 127 Views
E-Mails - 105 Views

So, in this case, I can't say the blogging and social networks are the best tools for selling homes. However, I can say that this listing had good and immediate exposure to the public based on the use of our blogs and social networks. 3 of the first 4 showings were generated through Twitter, ActiveRain, and our YouTube channel. Only 1 of the 4 showings was from the MLS. Interestingly, the purchasers first viewed the property on ActiveRain and YouTube before it even appeared in their private MLS portal search.

MESSAGE TO THOSE AGENTS SKEPTICAL OF BLOGGING AND SOCIAL NETWORKS

Now, I am not going to say that blogs and social networks sell homes. Without a good marketing plan, an aggressive pricing strategy and a bit of hardwork, I doubt that a home will sell quickly or at a premium price with or without the use of blogs and social networks. However, I can say that social networking, blogging, YouTube videos and e-blasts each contributed to this sale and are additional tools to be used in marketing a home for sale. In the past year, this is the fourth sale that was driven by or at least received an assist from a post to ActiveRain that was then disseminated via Twitter, LinkedIn, Facebook and other social networking sites.

Interested in selling your townhome or condominium in St. Louis with a brokerage commited to harnessing the power of the internet and social networks to maximize the sales price for your home and minimize the days on market? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

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PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Just Listed - Townhome for Sale in Gaslight Square Neighborhood of the Central West End - 4127 Westminster Place

Tue, 22 Sep 2009 00:30:29 -0500

Looking for townhomes for sale in the Gaslight Square neighborhood of the Central West End? PREA Signature Realty just listed a new townhome for sale in the Gaslight Square neighborhood of the Central West End at 4127 Westminster Place located 2 blocks North of Lindell Avenue.

IDEAL FOR FIRST TIME HOME BUYERS

This townhome in the Gaslight Square neighborhood of the Central West End is ideal for a young professional or first-time home buyer who is interested in purchasing in the Central West End. Here are a few benefits of purchasing now:

$8,000 Federal First-Time Home Buyer Tax Credit - Pay down your mortgage, use to pay your first 10 mortgage payments, make improvements to the property, or purchase new furniture or appliances.
Cheaper than Rent-Assuming a 3.5% down payment, a 30 year fixed rate loan, and interest rates at 5%, your monthly mortgage payment would be approximately $950 per month. The current average rental rate for condos and apartments in the Central West End is $1.10 per sq. ft.. At 1216 sq. ft., this townhome would rent for $1,137 per month. By purchasing, you save $4,651 per year compared to renting.
Tax Abatement - This property is 50% tax abated through 2013. You pay a fixed annual real estate tax of $380.
Tax Benefits - Although you will pay interest on your loan and will be responsible for the payment of real estate taxes ($380 per year), you able to deduct these items on your federal and state income tax returns.
Wealth Building - The Central West End is an established neighborhood with a history of price appreciation over the past 15 years. Although historical appreciation trends may not continue in the future, real estate has been shown to be a key component in building wealth.
Low Maintenance - Unlike single family homes, this townhome is a condominium offering low maintenance and predictable costs. Monthly condo fee of $145 per month includes sewer, water, common electric, street lights, front lawn landscaping, mowing and lawncare, interior security system, exterior maintenance, sidewalk maintenance, insurance, professional management and capital reserve.

PROPERTY FEATURES

This townhome for sale in the Gaslight Square neighborhood of the Central West End offers the following features and benefits:

Bedrooms: 2 Master Bedroom Suites.
Bathrooms: 2 Full Bathrooms / 1 Half-Bathroom.
Sq. Footage: 1216 sq. ft. (per city tax records).
Exterior Facade: Brick with Stone Accents.
Parking: 2 Car Garage.
Storage Room: Storage room, tool room or workship located in Garage.
Patio: 10'2" x 9'2" - Concrete Patio.
Rear Yard: Fenced yard with wood privacy fence, concrete sidewalk, and mature landscaping.

Living Room: 12'9" x 11'10" - Hardwood Floors, Wood Burning Fireplace with Mantel, and Windows with Southern Exposure.
Dining Room: 6'3" x 10'3" - Hardwood Floors, Open Floor Plan, and Chandelier.
Kitchen: 18'0" x 8'7" - Eat-In Breakfast Room, White GE Appliances (Microwave, Refrigerator, Dishwasher, and Stove), Stainless Sink, Formica Countertops, 42" Maple Cabinets, and Pantry.
Master Bedroom Suite: 12'9' x 11'10" - Berber Carpeting, Ensuite Bathroom, Large Walk-in Closet, and Custom Closet Organizers.
Guest Bedroom/Office Suite: 12'9" x 12'0" - Berber Carpeting Ensuite Bathroom, Large Wak-in Closet, and Custom Closet Organizers.
Doors: Steel Exterior Entry Doors, Rear Screen Door, and Interior Six Panel Doors.
Security System: Monitored Security System.
Fireplace: Woodburning Fireplace in Living Room.
Cable/Telephone: Wired for Cable and Telephone in Living Room and Bedrooms.
Appliances: White GE Appliances.
- GE 22 Cubic Foot Refrigerator
- GE Electric Range
- GE Microwave with Vent
- GE Dishwasher
Plumbing Fixtures: Moen Faucets in Kitchen and Baths. Garbage Disposal in Kitchen. Chrome Bathroom Accessories.
Window Treatments: Mini-Blinds.
Flooring: Hardwood, Ceramic Tile, Premium Carpeting and Vinyl.

PRICED TO SELL

4127 Westminster is priced to sell. At a list price of $180,000, 4127 Westminster is priced $4,900 to $13,000 below the same models in the same development. Plus, it has a full, private yard and is on a quiet street compared to the property at 425 N. Sarah.

Properties Currently Listed for Sale-Westminster Townhomes

4127 Westminster (2 BR/2.5 Ba - 1216 sq.ft.) $180,000
4134 Westminster (2 BR/2.5 Ba - 1216 sq.ft.) $193,000
425 N. Sarah (2 BR/2.5 Ba - 1292 sq.ft.) $184,900

CASUAL LIFESTYLE

The townhome for sale is located 2 blocks North of Lindell Avenue in the historic Gaslight Square neighborhood of the Central West End and is just minutes from from Downtown St. Louis or Clayton.

Here are some of the benefits of this great location:

Public Transportation - Near the Central West End and Grand Metro Stations.
Interstate Highways - Central Location with Easy Access to Forest Park Parkway and Highways 44 and 64.
Hospitals - Minutes from St. Louis University Hospital, Barnes-Jewish and the Washington University Medical Campus
Universities- Short drive to the college campus of St. Louis University, Harris Stowe State College, Fontbonne, Webster University, Washington University, and the St. Louis College of Pharmacy
Arts and Entertainment - Short drive to Grand Arts District, Fox Theatre, CitiGarden, Washington Avenue Clubs, The Landing, and Soulard
Restaurants- Walking Distance to Central West End Restaurants.
Dog Park- CWE Dog Park.
Park - Walking Distance to Forest Park.
Fitness - Fitness trails in Forest Park, St. Louis Workout and the Fitness Club at the Chase.
Airport - 15 minute drive to Lambert St. Louis International Airport
Library: Schlafly Library.

The Central West End offers a great, new lifestyle. Whether you enjoy reading a book, having a class of wine or walking tree lined streets looking at great examples of historic architecture, the Central West End has something for everyone.

Interested in purchasing a townhome or condominium in the Central West End? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

Need more information on City Living? Visit our neighborhood blog at www .LafayetteReport.com.

________________________________________________________________________________________________

PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Exploring St. Louis and Southern Illinois - The Gateway Geyser - The World's Tallest Fountain

Sun, 20 Sep 2009 20:36:24 -0500

Ms. Milton continues to produce nice posts on people, places and events in the Metro East area and Southern Illinois. Again, she describes a place just across the Mississippi River that I haven't visited. The Gateway Geyser is visible from many St. Louis locations. However, for a great place to see the Gateway Geyser, enjoy views of the Arch and Riverfront, and have a great dinner or cocktail, I would such the rooftop patio at the Cielo Restaurant at the Four Season Hotel next to Lumiere Casino. For photos and videos of the Four Season, click on photos/video.

Via Nancy Milton, REALTOR/GRI, JustDuckyHomes.com (Coldwell Banker Brown Realtors in St.Louis' Illinois suburbs):

Shooting approximately 630 feet into the air several times each day, the stunning Gateway Geyser has the power to reach for the sky and to lure drivers from the interstate highways of Southwestern Illinois for a closer look.

If you've ever wondered about that massive fountain of water that can be seen from vantage points in both Missouri and Illinois, here's your answer.

Located in the Malcolm W. Martin Memorial Park in East St. Louis, Illinois, the fountain was designed as a counterpart to the 630-foot-tall Gateway Arch which rises over the Missouri side of the Mississippi River as a tribute to President Thomas Jefferson and his hope for a continental United States.

Eero Saarinen, the Arch's architect, originally envisioned a park surrounding his stainless-steel sculpture that visually linked both sides of the great river.

Saarinen died before the Arch was completed and his vision remained just that until 2009 when the Illinois park and geyser opened thanks to the determination of the late Malcolm W. Martin.

A St. Louis attorney, philanthropist and civil rights champion, Martin purchased the land for the park and provided the leadership necessary to establish an organization to guide the project through to its completion. Martin modeled the geyser -- which is the world's largest man-made fresh water fountain -- after one he had seen in Geneva, Switzerland.

The main geyser sits in a six-acre, million-gallon lake (inhabited by a number of happy -- and brave -- ducks during our visit) and is surrounded by four smaller fountains that represent rivers that converge at St. Louis.

Visitors are often surprised at the noise produced by the three 800-horsepower pumps that operate the geyser. They can process 7,500 gallons of water at 250 feet per second. Just as the Gateway Arch sports an aircraft warning beacon at its summit, so does the geyser. A light on the pump shed alerts pilots that the fountain will be operating so they can avoid the area.

Erupting like Old Faithful, the Gateway Geyser operates on a set schedule at noon, 3 p.m., 6 p.m. and 9 p.m. from April through October.

The spray from the main geyser and its four smaller companions often produces brilliant rainbows such as the one to the right which I snapped this summer.

In addition to the geyser, the Malcolm W. Martin Memorial Park contains a newly constructed Mississippi River Overlook which rises 40 feet high and allows visitors to see over the Mississippi River flood wall for a magnificent view of the St. Louis skyline. If you're visiting St. Louis, this is the primo location from which to take a postcard-worthy skyline image.

To reach the park and fountain, take the Fourth Street exit from I-55/70. You can follow the signs for the Casino Queen or look for the smaller fountain icon signs that are now in place. Pass the casino parking lot entrance and make a left on the road that runs parallel to the flood wall. You'll see the park, observation tower and fountain on your left.

Here's a map that will help guide you to the park.

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About the Author: Nancy Milton, GRI, is a REALTOR with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Kristina Pratt help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on homes for sale in the communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy and O'Fallon. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Nancy at Nancy@JustDuckyHomes.com.

(Please note that individual listings mentioned in this blog are accurately described in terms of availability and price at the time of the posting. As properties are constantly coming on and off the market, please contact me for the latest information on those that are of particular interest to you.)

________________________________________________________________________________________________

PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Call to Action for Missouri Realtors

Fri, 18 Sep 2009 14:09:46 -0500

Missouri Association of Realtors President T. David Rogers issues call to action to Missouri Realtors to support current fundraising events for RPAC to raise funds for lobbying on issues of importance to real estate professionals. Mr. Rogers specifically cites the need to monitor and develop grassroots opposition to future proposals for a 1% transfer tax. In the current market, owner/sellers, purchasers and real estate professionals can ill afford to pay a transfer tax on the sale of real estate. For example, for the sale of a $200,000.00, it means that one party to the transaction would be forced to pay tax on the sale of $2,000.00 thereby artificially inflating prices, reducing the volume of sales, and increasing the number of short sales.

Here is the video from Mr. Rogers:

Interested in learning more about RPAC and its legislative agenda? Visit the Missouri Association of Realtors website.

________________________________________________________________________________________________

PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Just Listed - Condo for Sale in Lafayette Square - 1303 Missouri - Unit C

Mon, 14 Sep 2009 21:17:55 -0500

Looking for condos for sale in Lafayette Square? PREA Signature Realty just listed a new condo for sale in Lafayette Square at 1303 Missouri - Unit C located 1 block North of Lafayette Park. This condo in Lafayette Squarehas been recently updated with new flooring, carpeting, HVAC and water heater and is in move-in ready condition.

Make an on-line slide show at www.OneTrueMedia.com

IDEAL FOR FIRST TIME HOME BUYERS

This condo in Lafayette Square is ideal for a young professional or first-time home buyer who is interested in purchasing in Lafayette Square. Here are a few benefits of purchasing now:

$8,000 Federal First-Time Home Buyer Tax Credit - Pay down your mortgage, use to pay your first 10 mortgage payments, make improvements to the property, or purchase new furniture or appliances.
Cheaper than Rent-Assuming a 3.5% down payment, a 30 year fixed rate loan, and interest rates at 5%, your monthly mortgage payment would be approximately $750 per month. The current average rental rate for condos and apartments in Lafayette Square is $1.00 per sq. ft.. At 931 sq. ft., this condo would rent for $931 per month. By purchasing, you save $2,160 per year compared to renting.
Tax Benefits - Although you will pay interest on your loan and will be responsible for the payment of real estate taxes ($1,134 per year), you able to deduct these items on your federal and state income tax returns.
Wealth Building - Lafayette Square is an established neighborhood with a history of price appreciation over the past 15 years. In 2008, contrary to national and regional trends, Lafayette Square saw an increase in median sales price of 8%. Although historical appreciation trends may not continue in the future, real estate has been shown to be a key component in building wealth.
Low Maintenance - Unlike single family homes, condominiums with an adequate capital reserve can offer two major benefits - low maintenance and predictable expenses.

PROPERTY FEATURES

This condo for sale in Lafayette Square offers the following features and benefits:

Bedrooms: 2
Bathrooms: 1
Sq. Footage: 931 sq. ft. (per city tax records)
Parking: 1 Off-Street Assigned Parking Space
Exterior Facade: Brick
Living Room: 13.6' x 15', Windows with Eastern Exposure, Wood Burning Fireplace with Mantel, and Pergo Wood Floors
Dining Room: 12.9' x 11.4', Windows with Eastern Exposure, Open Floor Plan, Mirrored Ledge, and Pergo Wood Floors
Kitchen: 8.8' x 8.7', Eat-In Breakfast Bar, Double Bowl Ceramic Sink, Dishwasher, Microwave, Stove, and Refrigerator, White Cathedral Cabinets, Red Laminate Countertop, Pantry and Ceramic Tile Floor.
Master Bedroom: 13.9' x 11.6', Newer Carpeting and Pad, and Large Wall Closet
Guest Bedroom/Office: 13.6' x 11.6', Pergo Wood Floor, Large Wall Closet and Access to Deck
Bathroom: Full Bath with Shower/Tub, Ceramic Tile Floor, and New Toilet.
Systems: Newer HVAC and Water Heater
Windows: Some Window Treatments and Some Storm Windows
Deck: Semi-Private Wood Deck

CASUAL LIFESTYLE

The condo for sale is located just South of Downtown St. Louis and minutes from Downtown St. Louis or Clayton in the historic Lafayette Square neighborhood. Here are some of the benefits of this great location:

Public Transportation - Located on the Convention Center bus line and within walking distance of the Metro Station at Union Station
Interstate Highways - Central Location with Easy Access to Highways 44, 55, 64 and 70
Hospitals - Minutes from St. Louis University Hospital, Barnes-Jewish and the Washington University Medical Campus
Universities- Short drive to the college campus of St. Louis University, Harris Stowe State College, Fontbonne, Webster University, Washington University, and the St. Louis College of Pharmacy
Arts and Entertainment - Short drive to Grand Arts District, Fox Theatre, CitiGarden, Washington Avenue Clubs, The Landing, and Soulard
Restaurants- Walking Distance to Lafayette Square restaurants such as Vin de Set, 1111, Ricardo's, 33 Wine Bar, Bailey's Chocolate Bar, Arcelia's, Sqwires, and more
Dog Park- Soulard
Park - Walking Distance to Lafayette Park
Neighborhood Events- House Tour, Christmas Parlor Tour, Summer Concert Series, Movies in the Park, Tour de Lafayette Bike Race, Perfectos Baseball, Health and Wellness Fair, and Much More
Farmer's Market- Walking Distance to Soulard Market
Fitness - Fitness trails in Lafayette Park, bike lanes on Park and Lafayette, 1 block West of Lafayette Pool & Tennis Club, and short walk or run to local fitness clubs
Airport - 16 miles to Lambert St. Louis International Airport

Lafayette Square offers a great, new lifestyle. Whether you enjoy reading a book, having a class of wine or walking tree lined streets looking at great examples of Victorian architecture, Lafayette Square has something for everyone.

Interested in purchasing a townhome in Lafayette Square? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

Need more information on City Living?Visit our neighborhood blog at www .LafayetteReport.com.

________________________________________________________________________________________________

PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.

Mississippi Place - Townhomes for Sale in Lafayette Square

Mon, 14 Sep 2009 00:49:28 -0500

LOOKING FOR A TOWNHOME FOR SALE IN LAFAYETTE SQUARE?

Mississippi Place, a new home community in Lafayette Square, offers attached townhomes with old world charm and contemporary finishes across the street from Lafayette Park. There are two floor plans to meet your needs - the Victorian Parlor and the Lafayette Manor House. Currently, there are six townhomes remaining - priced from $399,000.

PRIME LOCATION MEANS QUICK RESALE AND APPRECIATING PRICES

There is an old adage in the real estate business - location, location, location. Well, location does matter. The townhomes at Mississippi Place are located across the street from the main entrance to Lafayette Park and offer great park views. A good location does matter. Homes that are located in great locations in good neighborhoods offer:

Price Stability
Appreciating Home Value
Increased Public Exposure
Shortened Marketing Times

In today's market, one should consider potential resale and market value. When it comes to location, there is none better than the townhomes for sale at Mississippi Place with their stunning views of Lafayette Park.

ELEGANT LIVING - OLD WORLD CHARM WITH CONTEMPORARY FINISHES

The Victorian Parlor Model Offers the Following Standards and Options:

Exterior Facade: Brick / Dryvit EFIS with exterior drain system (where noted on plans). Energy efficient insulation.
Front Entry: Solid wood entry door with mail slot, deadbolt lock and transom. Architectural columns and/or ceramic tile in foyer (where noted on plans).
Parlor: Hardwood floors. Fireplace and wood mantle. Above-mantle wiring for cable/satellite television. Built-in bookcases (upgrade). Crown molding. Coat closet.
First Floor Powder Room: First floor laundry with exterior vent. Half-bath powder room. Ceramic tile floor.
First Floor Stairs: Hardwood stairs with painted risers.
Kitchen: Ceramic tile floor (Upgrade-hardwood floor). 3 cabinet options. Cabinet layouts will vary based on unit, location of windows and cabinets selected (Upgrade-wine rack). Black Maytag dishwasher, gas stove and microwave with hood vent (Upgrade-stainless steel JennAir). Granite countertops (Base-Grade A, Upgrade-Grade B). Stainless double bowl sink with disposal. Pendant lighting. Under cabinet lighting (Upgrade-over cabinet lighting).
Living Room/Dining Room: Hardwood floors. Fireplace and wood mantle. Above-mantle wiring for cable/satellite television. Crown molding.
Master Suite and Bathroom Areas: Premium carpet and pad (master bedroom). Ceiling fan. Walk-in closet. Juliette balcony. Ceramic tile (bathroom). Jacuzzi soaking tub (Upgrade-whirlpool jets) and separate shower with glass enclosure and ceramic tile surround. 3 ceramic tile surround options (Base-12x12 tiles, Upgrade 1-brick style, Upgrade 2-x8 tile). Granite countertops (Base-Grade A, Upgrade-Grade B). Under mount sinks. Crown molding (upgrade).
Second Floor Stairs: Carpeted stairs.
Third Floor Bath: Jack-n-Jill bathroom with entry from hall. Granite countertops with under mounted sink. Tub with ceramic tile surround. Ceramic tile floor.
Third Floor Guest Room: Premium carpet and pad. Walk-in closet.
Energy Efficiency: Double-pane thermal wood windows with easy to clean removable sashes. R-30 ceiling insulation. R-13 wall insulation. Energy efficient gas furnace, gas water heater and central air.
Cabinets: Manufacturer-Quality Cabinets. Base-Bristol (Maple). Upgrade 1-Hancock (Maple). Upgrade 2-Jamestown (Maple).
Lighting: $1,000 lighting allowance from Metro Lighting.
Other: Oversized 2-car garage; deck (upgrade); and poured concrete basement with option for basement buildout.

CASUAL LIFESTYLE

Mississippi Place is located just South of Downtown St. Louis and minutes from Downtown St. Louis or Clayton in the historic Lafayette Square neighborhood. Here are some of the benefits of this great location:

Public Transportation - Located on the Convention Center bus line and within walking distance of the Metro Station at Union Station
Interstate Highways - Central Location with Easy Access to Highways 44, 55, 64 and 70
Hospitals - Minutes from St. Louis University Hospital, Barnes-Jewish and the Washington University Medical Campus
Universities- Short drive to the college campus of St. Louis University, Harris Stowe State College, Fontbonne, Webster University, Washington University, and the St. Louis College of Pharmacy
Arts and Entertainment - Short drive to Grand Arts District, Fox Theatre, CitiGarden, Washington Avenue Clubs, The Landing, and Soulard
Restaurants- Walking Distance to Lafayette Square restaurants such as Vin de Set, 1111, Ricardo's, 33 Wine Bar, Bailey's Chocolate Bar, Arcelia's, Sqwires, and more
Dog Park- Soulard •Park - Walking Distance to Lafayette Park
Neighborhood Events- House Tour, Christmas Parlor Tour, Summer Concert Series, Movies in the Park, Tour de Lafayette Bike Race, Perfectos Baseball, Health and Wellness Fair, and Much More
Farmer's Market- Walking Distance to Soulard Market
Fitness - Fitness trails in Lafayette Park, bike lanes on Park and Lafayette, and short walk or run to local fitness clubs
Airport - 16 miles to Lambert St. Louis International Airport

Mississippi Place offers stunning views of Lafayette Park urban lofts in an established, fashionable neighborhood. Lafayette Square is not only a great neighborhood - it is also a great investment with over 15 years of median price increases. Even in 2008, Lafayette Square experienced an 8% median price increase. As important, Lafayette Square offers a great, new lifestyle. Whether you enjoy reading a book, having a class of wine or walking treelined streets looking at great examples of Victorian architecture, Lafayette Square has something for everyone.

Interested in purchasing a townhome in Lafayette Square? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

Need more information on City Living?Visit our neighborhood blog at www .LafayetteReport.com.

________________________________________________________________________________________________

PREA SIGNATURE REALTY

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com.