St. Louis region ranked in top 10 best housing markets

Our area is also a “best-bang-for-the-buck” and home prices edge up.

It seems as though St. Louis has a lock on the good news department lately. Our region was selected for two Forbes.com lists and home prices are moving up. If you’re shopping for a house, St. Louis is one of the best markets, according to Forbes.com. The magazine recently released their list of Top 10 Best Housing Markets and St. Louis landed in the number eight slot. The list is based on the stability of each metro area as measured by affordability rankings and foreclosure rates as an indicator of a lack of excess inventory, making the top cities what they call the best opportunities for home shoppers. The top 10 housing markets include: Pittsburgh, PA, Louisville, KY, Houston, TX, Minneapolis, MN, Indianapolis, IN, Memphis, TN, Columbus, OH, St. Louis, Dallas/Ft. Worth, TX and Austin, TX.

In another Forbes list, St. Louis made the “Best-Bang-For-The-Buck Cities” analysis. This top 100 list is based on solid housing markets, relatively stable employment, a low cost of living and quick commutes.

Home prices are on the way up too, growing for the second straight month in January–up 0.6%, according to real estate data firm First American Core Logic’s Home Price Index. In December the year-over-year increase was 1.54 percent, the first positive number after at least nine months of declines. Nationwide, prices are still falling, down 0.7 percent in January, according to First American.

All good news as we look forward to a spring surge in home sales.

Search homes from St. Charles County Real Estate.

Written by Myra Vandersall

Haiti relief help

Housing crisis for Haitians looms large; St. Louis’ best musicians sing out to help

With more than one million Haitians in need of shelter, donations will help tremendously. And, the “St. Louis Musicians for Haiti” concert at the Sheldon sings for Doctors Without Borders.

The devastation caused by the earthquake in Haiti is incomprehensible, but the goodness of the human spirit is alive with an outpouring of help and donations. As real estate agents, we know how vital housing is–a safe place to shelter a family. The United Nations Office for the Coordination of Humanitarian Affairs estimates that more than 200,000 families (up to one million people) are in need of immediate shelter, but these figures are yet preliminary. While the organizations that do need donations are too numerous to list, we suggest considering Habitat for Humanity to help provide housing for Haitians in the short and long term. For information on how to help, call the Habitat for Humanity of St. Charles County at 636.978.5724 or visit the St. Louis chapter of Habitat for Humanity website.

Another way to support the cause and enjoy some of the best music St. Louis has to offer, is to attend the “St. Louis Musicians for Haiti” concert. A diverse group of St. Louis musicians will take the stage of the Sheldon Concert Hall at 7:30 p.m., Tuesday, February 9, to raise money for Doctors Without Borders’ Haitian earthquake relief efforts.

The concert features jazz, blues, soul, folk, classical and more, from a lineup that includes singer Brian Owens; folk group Mayor Taylor, featuring Lydia Ruffin and Charlie Pfeffer; the Bottoms Up Blues Gang; pianist Peter Martin; singer Mardra Thomas and her pianist/husband Reggie Thomas; singer Kim Massie; pianist Peter Henderson; opera singer Christine Brewer and more. Julius Hunter, author and former TV newscaster, will host the evening.



Tickets are $15 for general admission, and are on sale now. You can purchase tickets via metrotix.com or by calling 314-534-1111. For more information, call The Sheldon at 314-533-9900 during normal weekday business hours, 9:00 a.m. to 5:00 p.m. Monday through Friday.


Written by Myra Vandersall

Property tax credit will help stimulate more home sales in 2010

A proposal before the Missouri Housing Development Commission would credit up to $1,250 in property taxes for qualified buyers.

Buying a home in Missouri in 2010 looks to include even more incentives for people to enter the housing market. The Missouri Housing Development Commission (MHDC) is considering a proposal to provide up to $1,250 in property tax breaks for qualified buyers. This, on top of the extended first-time buyer $8,000 tax credit and $6,500 for repeat buyers, sets up next year as one of economic stimulation for Missouri.

The property tax break is supported by Gov. Jay Nixon and State Treasurer Clint Zweifel, the MHDC chairperson. This $15 million proposal would be funded from the Commission’s reserve fund. An estimated 9,000-11,000 households could benefit. Show your environmentally friendly side and the commission will provide an extra $500 if the house is energy-efficient or if the buyer can begin energy efficient steps within 60 days of closing. This perk includes improvements like insulation, energy star rated appliances, efficient water heaters and windows.

Income limits do apply, ranging from $58,300 to $98,560.

The big day is Friday, December 18, when commission members vote on the proposal. Because of all these incentives, those thinking about buying a home next year need to set up a planning schedule and begin sprucing up your house for sale. The first step is to analyze your finances, work on getting as big a down payment as possible, and check that credit score. There may be reports on your score that are wrong or fraudulent, reducing your score and the size of loan. By checking now you’ll avoid problems when you are ready to buy.

And, investigate the MHDC to see if you qualify for more assistance. The Commission administers any number of housing programs, from purchasing a home with a First Place loan, assistance for veterans, buying property in disaster areas and home repair grants. Help is out there for homebuyers to realize property ownership.

Written by Myra Vandersall

IRS Sets New Rules for Tax Credit

Daily Real Estate News | December 7, 2009 |

IRS Sets New Rules for Tax Credit
The IRS has spelled out guidelines for eligibility for the home buyer credit when co-borrowers purchase a property.

When a home-owning parent of an adult child co-signs for a mortgage and both names appear on the note, the IRS says that under some circumstances, the first-time home buyer can qualify for the whole amount.

The IRS says the parent doesn't qualify for any portion of the credit, but if the child hasn't owned a home during the three years preceding the current purchase and can qualify based on income, he or she can be allocated the entire $8,000 credit.

When unmarried individuals co-purchase a home and only one of them is eligible for the credit, then the full $8,000 can be allocated to the eligible buyer.

Source: Washington Post Writers Group, Kenneth R. Harney (12/04/2009)

Holiday Light Display

Holiday light displays make the season bright and glitzy
St. Charles County is one of the most lighted up communities during the holidays. Add the traditional lights in St. Louis, and families can see stars every evening. Here are a few to enjoy.

O’Fallon
Celebration of Lights, Fort Zumwalt Park
Through December 30 (closed December 24 and 25)
This drive-through holiday light display held at Fort Zumwalt Park. Each scene is designed and funded by local organizations, churches and businesses. Started in 1991, the event attracts more than 8,000 vehicles each year and more than 5,000 individuals on walk-through night.
Sunday, Tuesday - Thursday 6:30 - 9:00 p.m.
Friday and Saturday 6:30 - 10:00 p.m.
$9/ vehicle - $15/large (15 passenger) van - $1 per person/ bus ($25 min.)
Tuesdays - $7 for cars, vans and non-commercial vehicles
$1 off any regular admission with canned food or toy donation (not valid on Tuesdays)
Closed to vehicle traffic on Mondays for train rides by advance reservation only To make a train reservation, call 636-379-5502.

Carriage rides are available too with advanced reservations. Call Carousel Farms and Carriage Company at 636-390-4403.

Sleigh rides are another way of seeing the lights. Reservations are a must. Call 636-379-5502.

After enjoying the Celebration of Lights, save your program! Presenting your program at participating O'Fallon businesses qualifies you for great discounts. For detailed information, go the Celebration of Lights website.

Wentzville
Holiday Night Lights
Rotary Park, Foristell
Through December 27
6:00 to 10:00 p.m.
Price: $8 per car or $1 per person per bus or van over 7 people
The City of Wentzville Parks & Recreation Department will present the 13th Annual Holiday Night Lights at Rotary Park. This one-mile drive-through display features more that 36 themed lighted displays and 500,000 lights. For detailed information go to the City of Wentzville’s website or call 636-332-9236.

Alton
Christmas Wonderland
Rock Spring Park on College Avenue, off Washington Avenue
Through December 27
Monday-Friday, 6-9 p.m.
Saturday-Sunday, 5-9 p.m.
Price-$7 for cars and small vans
$1 per person for 10+ passenger vehicles
Hear the sleigh bells jingle and see three million lights twinkle amongst a beautiful backdrop at Rock Spring Park's Christmas Wonderland. Visitors can turn off their headlights and let the holiday displays carry them through the magical scene. Or, make the night even more memorable with a horse drawn carriage ride through the park. Carriage rides are first-come, first-served on Saturdays and Sundays. Other evenings may be possible upon request. For carriage ride reservations, call Greatting Horse Farm at 618-458-6986.
For more information about the event, call 866-465-7890 or go to visitalton.com.

St. Louis County
Winter Wonderland
Tilles Park
9551 Litzsinger Road, St. Louis
Price-$9.00 Family vehicle; $10.00 Limousine; $30.00 Commercial transport van; $75.00 tour bus
Through January 3 (Closed Christmas Eve and New Year’s Eve)
5:30-9:30 p.m.
Saturdays are closed to vehicular traffic and reserved for carriage rides.
St. Louis County Parks is celebrating our 24th year of Winter Wonderland! Winter Wonderland is created and designed by St. Louis County Parks employees. We hope you enjoy your drive through Winter Wonderland.

Horse drawn carriage rides are available every night except Christmas Eve and New Year’s Eve. Advanced reservations are required for all carriage rides and ticket prices vary depending on type of carriage and number in party.
Purchase tickets online at MetroTix.

St. Louis
Wild Lights: St. Louis Zoo in Forest Park
December 11-13, 18-23, 26-30
5:30 to 8:30 p.m.
Price-$4 for Zoo Friends members (no passes)
$5 for general public
Free for children under two
Stroll through the Saint Louis Zoo's enchanting holiday wonderland and enjoy hundreds of thousands of colorful lights, animated light displays and seasonal sounds, including penguins in paradise, flamingo lagoon and butterfly garden, shooting stars and a gingerbread village. For more information, go to stlzoo.org or call 314-781-0900.



St. Louis City
Anheuser-Busch Brewery Christmas Lights Display

Through January 2
Location: Anheuser-Busch Brewery
After sunset
Free
The display features over 800,000 lights that adorn a magnificent tree, the Bevo Plant, Pestalozzi Street and surrounding landscape of the nation's largest brewery. Light-tour lovers can drive or stroll on Broadway, Lynch, Arsenal, and 12th to admire the spectacular sparkle of the Christmas spirit.
For more information call: 314-577-2000

Do you know of a Light Display in the area? Please share in our comment box!

9 Easy Room Makeovers That Wow Buyers

View before and after photos of readers' room transformations to get ideas for your listings.

By Melissa Dittmann Tracey

A home has only one chance to make a first impression on potential buyers, and a poorly designed room can be a quick turnoff. REALTOR® magazine asked readers to send in stories of how they took action against their listings’ trouble spots.

Visit SchneiderSells.com for remodeling returns in the St. Louis area

Less-Than-Desirable Living Room

Name: Cheryl Oliveri-Daly

Company: Camden Real Estate Company, Camden, Maine

Problem: "The furniture was misplaced in the area, there was a cluttered bookcase, insufficient lighting, plants were too scattered, and the window seat, built-in bookcases, and the view were not being highlighted."

Solution: "I re-arranged the furniture, bringing in furniture and lamps from other rooms in the house—such as a coffee table, stacked suitcases, and baskets. I re-hung the artwork; grouped plants in one area; and de-cluttered the bookcase, arranging items in groups, such as by same color accessories, fewer books, random baskets, etc. I also added colorful decorative pillows to highlight the window seat and to make the couch 'pop,' with an added a touch of red to bring the room together."

Cost: $50—the only purchase for this room was a few decorative pillows

Result: The number of Web hits on the listing and showings increased after it was staged and an offer quickly came but ultimately fell through. The price of the home is $329,000.

A Bathroom With Too Much Design

Name: Julie Kern

Company: F.C. Tucker, Carmel, Ind.

Problem: "It was dated and there was too much personality."

Solution: "I replaced the striped blue walls with warm, sandy-tone walls that highlighted the white trim and fixtures. I then changed out the busy toile shower curtain to a textured, clean white curtain. With the addition of calming spa accessories, the bathroom now serves as a clean, modern bath retreat and all for a very low-budget makeover."

Cost: Less than $200 for the paint, shower curtain, vanity accessories, and towel.

Result: The property updates put the home in a better competitive position against the other listings in the condo development. The condo is listed at $99,900.

Bringing Warmth to an Empty Bedroom

Name: Stephanie Myers of Whisenhunt Stevens Properties, Bellaire, Tex., and Karen Brown of Trendsetter Realty

Problem: "It was empty, so potential buyers were being fooled by how they perceived the size of the space. In this particular room, the space seemed small."

Solution: "As tricks of the trade, stagers sometimes use air mattresses to complete a master bedroom look. We also added inexpensive side tables and lamps, a side chair and simple jute boxes from Ikea. We also added inexpensive draperies from Wal-Mart and attached them with nails and hooks—no drapery hardware was needed. We already had the bedding and furnishings from previous staging. This look showed potential home buyers how much space this room really had."

Cost: Almost $200, including approximately $60 in an air mattress, $80 in bedside tables and lamps, and the rest in inventory.

Result: After the rehab, this property originally was going to be listed at $220,000. After the staging, it was listed at $244,900, and the house sold in two weeks with a sales price of $243,000.

A Ruffled Master Bedroom

Name: Marilyn Gibson

Company: The Best Seller GMAC, St. Peters, Mo.

Problem: "This master bedroom's main problems were the strong colors, the floral pattern of the ruffled curtains and bedskirt, and the unnecessary furniture and TV."

Solution: "I simply removed the busy curtains to show off the room's bay window. I also removed the wall pictures because they were too small. Overall, these small changes drastically improved the room and made it much more current."

Cost: $0

Result: The property was listed for $164,900 for four months with no offers in its "unstaged" condition. Once it was staged and again listed for the same price, the property had an accepted contract within nine days. It closed in a total of 24 days from listing to closing date.

Orange Alert in the Family Room

Name: John Badalamenti

Company: Prudential Fox & Roach, REALTORS®, Wayne, Pa.

Problem: "The room was painted in an Adobe, orange color motif, which many buyers found too loud for their tastes. It was hurting the sale of the home."

Solution: "The seller originally gave me resistance about changing the color, but after reading the feedback I was sending him from buyers, he finally realized the room needed to be re-painted. I suggested an off-white, neutral color. The paint job made a world of difference. Up until that point, I was having nightmares about this room!"

Cost: The cost in supplies and paint was under $200. The seller did the painting.

Result: The work was completed the first week of October 2008 and the property went under contract on Dec. 30, 2008, selling for $335,000 on Feb. 2, 2009.

A Clutterfest Comes Clean in the Living Room

Name: Celeste Boglioli

Company: Prudential Holmes & Kennedy Real Estate, Somers, N.Y.

Problem: "About 30 years of collecting 'stuff' finally caught up with the home owners in this room. There was too much furniture, the built-ins were filled to the max and camouflaged. There was not a blank space on the walls, and the beautiful hardwood flooring was not even visible."

Solution: "I removed excess furniture pieces, rearranged furniture to optimize space, removed clutter from the built-ins and arranged themes (such as a music theme with the guitar behind the piano), while still leaving a good amount of space. I removed wall hangings and pictures, and I removed the area rug to expose the gorgeous hardwood floors, which also gave the room a more spacious feel. "

Cost: Free—Boglioli did all the work herself and used furniture and accessories the owner already had in other areas of the home.

Result: An accepted offer was received on the home within a week after the staging for 90 percent of the list price.

Worn-In Living Room

Name: Valerie M. Blake, associate broker

Company: Prudential Carruthers REALTORS®, Washington, D.C.

Problem: "The couple's two-year-old daughter and large Labrador had taken over the space. What was meant to be a place for adults to entertain and relax had turned into a play room filled with toys. Poor lighting and clutter compounded the problem. The sofa was oversized and worn. The wall art was out of scale and the room lacked style."

Solution: "First, I moved the child's items to her room and had the owners remove and store the leather sofa and gold carpet. I rearranged the remaining furniture and art, using a smaller love seat, a rug, and a club chair to establish a cozy conversational grouping and highlight the oak floors. Borrowing furniture from other rooms in the house, I added end tables, lamps, and a writing table and chair to direct the eye toward the beautiful bay window. Finally, I enlisted the aid of my favorite staging company to provide a coffee table and plants, which brought attention to the room's high ceilings, crown molding, and period chandelier."

Cost: About $350; the costs mostly stemmed from using small items from the staging company and getting the house professionally cleaned.

Result: The house received three offers in two weeks and sold on March 24, 2009, for $583,000.

A Not-So-Great Room

Name: Jim Hinton and Mike Scott

Company: Cutler Real Estate, Akron, Ohio

Problem: "The carpet was old, worn, and stained. The walls were stained by cigarette smoke. The light fixtures were very dated, with a dingy brass finish. There was no drama in the room—it was empty, uninviting, and cold. What's worse is that it was the first room that buyers saw when walking in the house, giving them little desire to continue with the showing."

Solution: "We removed the carpet to expose the hardwood floor, which was in pretty good condition. The walls were repainted in a neutral light sand tone, but we used a darker tan color on the largest wall to highlight the cathedral ceiling and architectural beams. We added furniture, anchored by a black rug, to create a warm, homey feel in the living room area. Two tall, thin portraits were placed on the focal wall, adding a variety of colors that played off the other accessories. We defined the dining room space with the table and chairs and spray-painted the fixtures black. Finally, we added a mirror to reflect the sunlight from the large windows."

Cost: $480 for labor and materials

Result: Six showings in eight days, with two offers. The home sold in February 2009.

Old-Fashioned Kitchen

Name: Tim Franks

Company: Coldwell Banker, Pinnacle Properties, Florence, Ala.

Problem: "The kitchen was very outdated with wood paneling, old countertops, and worn, vinyl flooring."

Solution: "I added new cabinet door fronts and hardware, painted, and installed new tan laminated countertops. I also added stainless steel appliances and new vinyl tile flooring to give the kitchen a more modern look."

Cost: $4,000, with nearly half of the expense going toward to new appliances.

Result: Renovations were just recently completed, but buyer traffic to the listing had dramatically increased, Franks reports.

Going Green Clinches The Sale

Green is the hot color right now and should be your color too when you sell or buy a home. Becoming attuned to the current eco-movement will make a huge difference. As a seller, you will boost the value of your home with eco-friendly improvements and give your real estate agent more features to highlight that will set your home apart from the rest.

Buyers are much smarter about their home purchases and want lasting value for the money; an energy efficient system that saves on utilities; and a clean, healthy place to live. Given the current real market, a buyer has the upper advantage and green may very well clinch the sale.

Here are some smart eco-improvements that will attract buyers and sell your house faster.

Breathe Easy
Applying a fresh coat of paint is a standard way of freshening up a home, but you really don’t want that “fresh paint” smell. To make it more comfortable and physically healthy for potential buyers, use paint low in volatile organic compounds (VOCs). This paint is readily available and comes in a wide array of colors.

The Hogs In The Kitchen
Two rooms attract the most attention from buyers–the kitchen and the bathroom. Here’s where you can really shine and show buyers you care about their utility bills. Upgrade old appliances with new Energy Star certified models. While this may seem expensive on the front end, the replacements will more than pay for themselves on the back end and increase traffic.

Don’t Take It For Granited
While we’re in the kitchen, take a look at those countertops. But here’s the deal; don’t automatically assume that granite is the way to go for replacement. Granite countertops may still impress some buyers, but true trendsetters will be on the lookout for kitchens that incorporate some of the hottest new materials. So, what about paper? That’s right, paper. Compressed post-recycled paper sealed with resin makes an extremely durable countertop. It’s less expensive than granite–which is not a renewable resource–and has a warm, sleek feel. Maintenance is low too. A yearly application of mineral oil will keep the countertop looking fresh and new.

Drips Are Out
Leaky faucets, showerheads and old toilets are not selling points. Now’s the time to install low-flow faucet aerators and showerheads. Did you know that showers account for 22% of the individual water use in North America? That racks up really big water and utility bills and rates will continue to rise. Take a look at that toilet too. It’s the biggest water user in the house. By installing a low water usage unit, you can save around 2,000 gallons of water a year.

It Makes Scents
Potential home buyers get a feel for a property as soon as they arrive. To give your visitors a preview of what’s inside, arrange fresh plants new the front door. Especially effective are scented geraniums and herbs that offer an aromatic experience. To spruce up your landscaping, support your state and choose native Missouri plants that grow well in local soil and weather conditions. Inside, remove any chemical room fresheners and display herbs, especially in the kitchen.

Flaunt It
When you go green to sell your home, make sure that potential buyers know about your efforts. Discrete signs here and there, noting low VOC paint, Energy Star appliances, low water usage products and native plants show that you care about your environment and that of the new owner.

For sellers who use eco-friendly techniques, your property has an edge on the competition. Take advantage of these smart tips to be green and earn more green!

Frequently Asked Questions about First Time Home Buyer Tax Credit in Missouri

Click the $8,000 gift to download First Time Home Buyer Tax Credit Frequently Asked Questions PDF