Buy a St. Louis Home Now? Ask a Remax Hall of Fame Winner

I recently received the news that I was inducted into the ReMax Hall of Fame.  After 9 years in the real estate business and after moving from Illinois to reestablish my business in St. Louis, Missouri, I was pleased to receive this honor.   Over the years, I have worked hard, always kept my goals in sight, had the support of a great company, and worked with a terrific team of dedicated agents and support staff.  Now firmly established in the western suburbs of St. Louis, I look forward to many challenging years ahead in the real estate industry.

Like most Realtors®, I tell my clients - both buyers and sellers - that this is a good time to do a real estate transaction.  These days, I have to add a few qualifiers.  It is a good time to buy IF you have a stable job, have a good credit record, and are prepared to buy an affordable home in your price range.  With those pieces in place, there are great home values and low interest rates   If you are selling, perhaps because you want to buy another home, you will be successful IF your home falls within certain price brackets and if it is priced right.  I can't offer guarantees.  What I can offer is my best professional advice, based on my years in the business.

I recent came across an interesting report from the National Association of Realtors®, which compares some national statistics with St. Louis. 

The median home price in St. Louis is $160,000 -as compared to $185,000 nationwide. You should be able to buy a home with a mortgage that consumes less of your income each month.

These statistics conform that what Forbes Magazine said in 2009 is still true.  Based on housing and other measures, St. Louis is very affordable.

While that is generally true, home buyers who seek property in specific areas are working with a whole different set of numbers. In Chesterfield, for example, the median home price is $359,000.  In Town and Country, the average listing price is $770,600.  In Fenton, the median price is $187,500.  Before you move to any specific area, you need to make sure that the area is a good match for your resources. Websites like thestlhomefinder.com can help you find a home at the right price point for you.

A recent report by Bankrate.com indicated that Missouri home buyers also receive a break when they close their deal.  Among 49 states, the District of Columbia, and two areas of California, Missouri ranked #44 on the list of closing costs.  Missourians can expect to pay $3,356 on a $200,000 loan, as compared to New York, where fees topped $3,741.

Based on these statistics, you should be able to find an affordable home.  If you qualify, interest rates are more attractive than they have been in years.  When interest rates drop, you can buy more home.  (The rule of thumb is that every 1% of decreased interest allows you to purchase $10,000 more for the same down payment, with the same credit profile.)

Looking for affordable home?  Check out www.thestlhomefinder.com to find one you like and then call the Becky O'Neill POWER Team, where we promise a Positive Outcome With Exceptional Results. We specialize in fine properties in Clayton, Wildwood, Chesterfield, Manchester, Glencoe, Ballwin, Ellisville, Ladue, Fenton, Kirkwood, Webster Groves, Clarkson Valley, St. Charles, St, Peters, O'Fallon, Town & Country, and the surrounding area in St. Louis or St. Charles Counties.