Real Estate News

My homes for sale in St. Louis
August 8th, 2009 5:06 PM
For the first time since i have be a real estate agent/broker - i have homes of my own to sell .... and it is an eyeopener for me. So my plan is to jot down how things progress from the seller side - more for me than anyone else - but maybe someone else will find it interesing too.2 of the houses are in south st louis, in the city by Carondelet park - they have been on the market for about 4 weeks and the smaller, cheaper one (around $70k) has had 14 showings and over 200 client hits on the mls (buyers who have opened up the listing on the internet) - the 3 bedroom, 60's ranch ($130k) has had only 2 showings and about 30 client hits on the mls.
Posted by laura ludwig on August 8th, 2009 5:06 PM

How to Calculate Gain in real estate
March 2nd, 2009 6:22 PM
When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations.


How to Calculate Gain in real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps:


1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you actually contributed at closing.


2. Total adjustments: _______________________

To calculate this, add the following:
Cost of the purchase — including transfer fees, attorney fees, and inspections, but not points you paid on your mortgage.
Cost of sale — including inspections, attorney fees, real estate commission, and money you spent to fix up your home just prior to sale.
Cost of improvements — including room additions, deck, etc. Note here that improvements do not include repairing or replacing something already there, such as putting on a new roof or buying a new furnace.


3. Your home’s adjusted cost basis: _______________________

The total of your purchase price and adjustments is the adjusted cost basis of your home.


4. Your capital gain: _______________________Subtract the adjusted cost basis from the amount your home sells for to get your capital gain.


A Special Real Estate Exemption for Capital GainsSince 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:
You have lived in the home as your principal residence for two out of the last five years.
You have not sold or exchanged another home during the two years preceding the sale.
You meet what the IRS calls “unforeseen circumstances,” such as job loss, divorce, or family medical emergency.
Posted by laura ludwig on March 2nd, 2009 6:22 PM

Top Rankings in Real Estate in St. Louis
February 18th, 2009 11:55 PM

St. Louis is sometimes in the top rankings - but not always on a possitive note - so I have been doing some research....


According to City-Data .. St. Charles County, MO is ranked #100 in "Top 101 counties with the largest number of people moving in compared to moving out ".


Moscow Mills, MO is ranked #100 in "Top 101 cities with the largest percentage of mobile homes " - no comment on whether this is good or bad :)


Jefferson County, MO is ranked #69 in "Top 101 counties with the lowest percentage of residents relocating to foreign countries in 2006".


Hear's a good one - Town And County, MO is ranked #11 in "Top 101 cities with the largest percentage of elementary and middle school students in private schools ", while Des Peres is ranked #19, Crestwood #26, Creve Coeur #37, Oakville #44, Affton #64, Webster Groves #73, Mehlville #77, and Washington #87.... wow - this could be looked at as good - people can afford private schools... or maybe the public schools are just that bad!! High School stats are up there too - with Town and Country being #5, etc....


Jennings was the one city in the St. Louis area under "Top 101 cities with the largest percentage of divorced people age 25+ " and ranked near the bottom at #95.


Here's a funny one - Clayton is #34 in "Top 101 zip codes with the most offices of lawyers in 2005", while Creve Coeur is #19 for most Doctor offices, Chesterfield is #31 for most beauty salons, and Clayton #76 for most museums.


$$$ Ladue ranks #45 in income, while Farmington is ranked #82 for the number of people in mental institutions.


*********************************************************

I started out just browsing to see where St. Louis ranked in housing, and ended up with something else - in some ways more interesting.




Posted by laura ludwig on February 18th, 2009 11:55 PM

What is the Real Estate Sales forecast for 2009?
February 13th, 2009 11:29 AM
Some say that 2009 will be the "year of the thaw" and that home prices will continue to fall -- in my company I have noticed that things are starting to get busy - the phone is ringing - agents are showing our properties - seems like most other years.


Buyers are starting to realize that NOW is the time to buy. Here is a press release:


Press Release 2/3/09 - National Association of Realtors


2009 Real Estate Forecast Shows a Gain in both the Pending and Home Sales Arena!
Pending home sales show healthy gain. Pending increased as more buyers took advantage of improved affordability conditions, according to the National Association of Realtors®. Big gains in the South and Midwest offset modest declines in other regions.


The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in December, rose 6.3 percent to 87.7 from an upwardly revised reading of 82.5 in November, and is 2.1 percent higher than December 2007 when it was 85.9.





I think that the less I listen to the news and the more I listen to the phone ringing, the better I feel about the market!

Posted by laura ludwig on February 13th, 2009 11:29 AM

First Time Homebuyer Credit
August 7th, 2008 1:57 PM

Help for homebuyers                  


First time homebuyer incentives - temporary tax credit by congress...... this $7500 credit will be available for the purchase of a principal residence - (April 9, 2008 to July 1, 2009)


This credit is limited by several things - household income, price of the home, and the buyer's tax liability. The household income requirements are generous, so most first time homeowners would qualify. The credit is for 10% of the cost of the home - if the home coast $65,000, the credit would be up to $6,500.


This is more like an interest-free loan - all purchasers who claim the credit will be required to repay it over 15 years but with no interest . (payment will be 6.67% of the credit amount each year)


This credit is not issued when you purchase the home, but rather with your yearly taxes.

 
Posted by laura ludwig on August 7th, 2008 1:57 PM

Real Estate Sales - Just the Facts
April 29th, 2008 6:16 PM



Information Sources Used in Home Search
Real estate agent - 90%
Yard sign - 71%
Internet - 77%
Newspaper Home book/magazine - 37%
Open house - 52%
Builders - 41%
Television - 24%
                                                     Relocation company - 16%


For Sale By Owner (FSBO) Statistics Did you know? . . .

the typical FSBO home sold for $198,200 compared to $230,000 for agent-assisted home sales.
FSBO Methods Used to Market Home:

Yard Sign . . . 61%

Friends/neighbors . . . 46%

Newspaper ad . . . 37%

Open House . . . 29%

Internet . . . 17%


Most Difficult Tasks for FSBO Sellers:

Getting the right price . . . 14%

Understanding paperwork . . . 17%

Preparing/fixing up home for sale . . . 16%

Attracting potential buyers . . . 9%

Having enough time to devote to all aspects of the sale . . . 8%


Home Buyer & Seller Statistics Active home search (median):

Number of Weeks Searched - 8

Number of Homes seen -9

Method of Home Purchase: Agent/Broker - 77%

Builder - 12%

Direct from previous owner - 9%

Definitely would use same agent again: 66%


Actions taken as result of using Internet site:

Drove by/viewed a home - 75%

Walked through a home viewed online- 57%

Found agent used to search/buy home - 21%

Prior Living Arrangement Owned previous residence- 46%

Rented an apartment or house - 41%

Lived with parents, relatives or friends- 10%

Source: 2005 National Association of REALTORS® Profile of Homebuyers and Sellers

America's Housing Sector and the Economy

In 2001, existing home prices appreciated at a rate of 6.3%, the largest increase in over a decade. The majority of studies indicate that households spend 30-40% of their disposable income on housing-related expenses. These expenditures assist in supporting other sectors of the economy. Nearly 70% of all tax revenues raised by local governments in the US derive from property taxes. Homeowners contribute roughly 43% of property taxes, and commercial property taxes contribute the remaining 57%. The National Association of Home Builders estimates that the construction of 1,000 single-family homes generates 2,448 full-time jobs in construction and related industries, $79.4 million in wages and $42.5 million in combined local, state and federal revenues and fees.

Source: The Importance of America's Housing Sector to the Economy. On Common Ground, Winter 2003.
In 1995, just 2% of home buyers used the Internet to look for a home. Last year, 77% of home shoppers went house-hunting online, and nearly one-fourth of buyers first found the property they bought on the Internet, according to the National Association of Realtors. Traffic on real estate websites jumped 8% in the past year — double the growth rate of Internet traffic overall, according to comScore Media Metrix.
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Posted by laura ludwig on April 29th, 2008 6:16 PM

Sales Heading Up
February 4th, 2008 11:59 AM
Sales Heading Up according to Realtor Magazine! After months of downward movement, residential sales rose 0.4% in November.


The EHS (existing home sales) was 5.0 million ---- this is figured by taking the
month's actual rate of sales, multiplied by 12 and adjusted for seasonal sales difference.
Pending home sales index was 87.6 --- this measures housing contract activity. An index of 100 is equal to the level of activity during 2001, the benchmark year.
These stats seem to be in line with what we are experiencing at Lauralei Propeteries in St. Louis. While everyone says how slow it is, our real estate business have been consistently steady.

Also remember we offer choices most real estate companies don't offer:  you can list your home on the MLS for $195 - get exposure for your home and STILL sell your home FOR SALE BY OWNER!
We help you throughout the whole process! From contract to close!
check out our website - we offer the FLAT FEE mls listing, and a discounted 4.7% listing!

lauralei.net

Laura Ludwig

Lauralei Properties, llc

314-503-1186


Posted by laura ludwig on February 4th, 2008 11:59 AM

Energy Saving Tips for Home Owners
January 4th, 2008 7:10 PM

SAVE ON YOUR ENERGY BILLS THIS YEAR!

I received this handy little sticker pack with my Ameren UE electric bill - one sticker for each month with energy tips:

JANUARY - Open south-facing drapes to allow sunlight in during the day; close them at night.

FEBRUARY - Fluorescent task lightning, rather than overhead, saves energy.

MARCH - 3/9 Daylight savings time begins. Turn the clocks forward one hour.

APRIL - To conserve heat, run exhaust fans for 20 minute at a time.

MAY - Have your AC serviced before running this summer; it will be more efficient

JUNE - Seal up air leaks around your home - keep the cool air in.

JULY - Consider CFSs (compact flourescent) as an alternative to regular light bulbs to save energy

AUGUST - Move large appliances away from thermostats; they will register the heat and run more frequently

SEPTEMBER - Schedule Yearly maintenance on your furnace

OCTOBER - Weather stripping around windows and doors helps conserve heat

NOVEMBER - 11/2 Daylight savings time ends - turn the clocks back one hour



DECEMBER - Plug small appliances into a power strip; turn everything off at once to save watts
Posted by laura ludwig on January 4th, 2008 7:10 PM

Real Estate Vs. the stock market
January 2nd, 2008 1:44 PM
Here are reasons why you get more for your money with a house than the stock market.

****Leverage: with stocks, you put in all your money for a little piece of a company. With a house, you put in a little money to get all of the house.

****Tax benefits: think about the benefits of fixed-rate mortgages, property tax write-offs, interest rate deductions, depreciation.


****Control: With a home, you have control - what you buy, how much you pay, and where you live. You can improve the value with repairs and updates. Stocks are less controlable.

****Lifestyle: With a home, you're purchasing for yourself and your family. The neighborhood you want to be in, the size and style home that fits your needs. And the more wisely you choose, the better off you are.

****Value: Unlike stocks, your house will seldom become worthless. Barring a catastrophe, your home will retain a major portion of its value, even in the worst of times. So don't get stressed out about losing a few percent this year. You'll make it up.

Remember, when you own a home, you own something tangible - if the market looks bleak, you still have a place to sleep. With the stock market if things go really down hill, you can be wiped out

Owning a home is a good investment.
Posted by laura ludwig on January 2nd, 2008 1:44 PM

Things to do to get your HOME ready to sell
December 30th, 2007 2:28 AM
1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.



2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.




3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.




4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.




5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?




6. Take pictures - viewing pictures of your home, both inside and out, can help you pinpoint trouble spots - cluttered areas, paint touchups needed, etc.




7. Stage your home - impression is a strong motivating factor - the cleanliness and decor of your home have a strong impact on most buyers - a clean, pretty home makes the buyer feel that you have maintained the home well including the major systems, like plumbing, electric, etc




8. Try to have your home give off the warm, fuzzy feeling - buying a home is an emotional experience - things like scents and colors enhance these feelings
Posted by laura ludwig on December 30th, 2007 2:28 AM
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