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Home Selling in Saint Louis : Real Estate Advice

  • All558
  • Local Info49
  • Home Buying175
  • Home Selling38
  • Market Conditions20

Activity 47
Tue Apr 9, 2013
Debbie Jacobson answered:
If you are talking about the building inspection.... once the inspection peiod has past and the buyer and seller has not come to a written agreement then the contract is dead. Your agent should know that. ... more
0 votes 2 answers Share Flag
Sun Mar 31, 2013
Michael Cheng answered:
Yes, everybody who flips today was trained how to do it. In theory, you could flip houses with no money, but you really won't get very far. Most flippers have to put together a small pile of cash, perhaps just $500K, to make a business out of it. ... more
0 votes 4 answers Share Flag
Fri Jun 14, 2013
Suzanne MacDowell answered:
I have never heard of a bank doing something like that, and they are NOT creative! I would say short sale or renting are your two best options.
0 votes 9 answers Share Flag
Sat Mar 23, 2013
Dale Weir answered:
Absolutely not. As a realtor, I use a lawyer or a specialist firm to handle all communications with the bank, rather than handling them directly myself
0 votes 3 answers Share Flag
Fri Mar 22, 2013
Jennifer Kile answered:
There is a high demand for lease options, also known as lease purchase, in today's market. They appeal to buyers that do not have a high enough credit score to qualify for a loan. I have worked with many sellers and buyers doing lease options and am knowledgeable of both sides of the transaction. Feel free to call/email me to discuss further. ... more
0 votes 5 answers Share Flag
Thu Jan 29, 2015
Jeanette Bell answered:
How about both? If you need to move quickly, consider putting your house on the market for sale and for lease and see which happens first. Depending on what you owe on the property, your circumstances, and if you don't mind being a landlord, leasing could be a good option. ... more
0 votes 11 answers Share Flag
Fri Apr 12, 2013
Ted Wight answered:
I would say it is a good idea if you have a real Buyer who wants a home in a specific neighborhood. You can ask neighbors if they know of anyone thinking of selling.
0 votes 8 answers Share Flag
Sat Feb 2, 2013
Dana Tippit answered:
Simple answer: YES.

If the property was put on the market in 2012 without receiving an offer, it's been on the market too long for the current price and condition.

ECON 101:


There are less buyers in the winter months. To be competitive, you have to have the best price or the best condition. OR BOTH!

The lower the price the greater the buyer pool.

Sellers can list at higher prices when there are more buyers, in April and May.

Good Luck.
... more
0 votes 5 answers Share Flag
Tue Jan 8, 2013
Dale Weir answered:
Real Estate is local. You need to sit down with a LOCAL Realtor and ask the question. I can tell you that Nationwide, we appear to have hit bottom and are moving back up.

6 months worth of inventory is a balanced market - anything higher than that is a buyers market and anything lower than that is a sellers market. In my area (St Louis, MO), we have some neighborhoods within our metropolitan area that are still a buyers market with more short sales and foreclosures coming on every time we turn around. In other neighborhoods, we are down to LESS than a 2 month supply of homes on the market, making it very much a sellers market. Homes that are priced right for their condition, location and amenities are selling in a week to a month with multiple offers and some are going over the list price.

The other part of the equation is the price point that your home is at. Here, our lower price points (under $250,000) are selling better than our homes that are $600,000+, BUT the lower end has to sell, so those sellers have the money to buy-up to the next level, which in turn domino's into the next higher level. (I note your are from CA, your median price point is probably a lot higher than our conservative Midwest price point is - our home values never increased to the same level that the prices in CA did).

Keep in mind one other equation - where are you going? What are the housing values there doing? If you sell now and buy now, you are still in a recovering market, so while you may sell higher than you would have last year, you won't be buying at the much higher value that can be expected in a few years time. (ie sell lower, but buy lower if you are buying a more expensive home, works out more favorably for you)

Consider also your "holding costs". Even if your home is totally paid for, you are still paying insurance, utilities, taxes, maintenance, updates and repairs. The longer you own the home, the more money you will spend on those items. You have to weigh that against any increase in home value that you might get if you hold the home longer before selling (in your calculations, keep in mind that a home that is "updated" now, in 5 years time might not be considered updated and you might have to put more money into it in order for buyers to find it attractive.

So, talk to a LOCAL realtor about how the market is going in the neighborhood that you want to sell a home in, then unless the home is in an area that is still a declining market, my advice would be to sell.

If you need any other guidance or help, please feel free to contact me
... more
0 votes 3 answers Share Flag
Sat Jul 26, 2014
Sally Jo Dierker answered:
People do buy homes outside their state of residence. Some buy second or vacation homes and others buy investment or commercial property.
0 votes 2 answers Share Flag
Tue Jul 24, 2012
Home.searcher123 answered:
Of course you owe it back! The tax credit came with stipulations that you were unable to adhere to. It's not free money! That is taxpayers money, and the IRS will come looking for it eventually. I would advise you to contact the IRS and set up a payment plan before they have to come looking for you. Be proactive. ... more
0 votes 1 answer Share Flag
Fri Feb 8, 2013
Dan Brassil answered:
The appraisal cost will vary based on the overall value of the home. An expensive property will require a higher appraisal fee than a more modest home. You should check with your lender about this. If you do not have a lender yet, I would be happy to recommend a few in the St. Louis area. ... more
0 votes 7 answers Share Flag
Fri Apr 20, 2012
Bill Keefer answered:
I would 1st make 100% certian you do not qualify for a short sale.
www.billkeefer.com
0 votes 5 answers Share Flag
Thu Feb 9, 2017
Judy Bond answered:
The Title Company can do that at the time of closing. In the state of Missouri a spouse has ownership unless there is a prenuptial agreement. Best wishes. Judy Bond, Star Performers Realtors. judy@judybond.com ... more
0 votes 13 answers Share Flag
Thu Dec 22, 2011
Gary Geer answered:
Laura,
There are no set commissons. Contact a few agents in your area and ask them what they charge. This is a very tough market to sell your home yourself. You may actually sell your home for more money and have fewer problems if you use an agent. Agents get the exposure for your home that you can't get as a FSBO.

All the best,
Gary Geer

www.GaryGeer.com
... more
0 votes 14 answers Share Flag
Fri Nov 14, 2014
Pete Elsner answered:
Um...............for your beds? No.

Buying ~or~ Selling?
Call or Email
Pete Elsner
Cell 314-852-3862
E-Fax 314-677-6501
Co-Owner/Agent
Keller Williams Realty St. Louis
Search all Homes at:
http://www.PeteElsner.com
... more
0 votes 13 answers Share Flag
Thu Dec 16, 2010
Laura MacDonald Garafola answered:
There have been builders in the past who have advertised such this marketing ideal, however, I always caution my clients, that if is sounds too good to be true- it probably is. One of the factors is what will the builder actually offer you- certainly not market value, the offer will probably be on the low end, so the risk is not as high as it would be otherwise.
Also, what about your down payment, where will this be coming from?Especially if the builder offers you less than what you actually need to purchase your new home. I would certainly recomend that you practice due diligence before you act upon this form of trading.
... more
0 votes 1 answer Share Flag
Thu Sep 23, 2010
Mark Fleysher answered:
Go ahead and find yourself an Agent (preferably a REALTOR); refine your search to your zip code, and call a few agents, have them give you a comparable analysis, and ask them what they will do differently from other Agents to sell your home.

http://www.trulia.com/voices/directory/Saint_Louis-agent--32844


I was actually born in St. Louis, and haven't been there since I was 4 years old; I would love to visit!

Good Luck!


--

Sincerely,

Mark D Fleysher, MBA, Broker, REALTOR
The Jack Conley Realty Group
C. 702-291-8186 F. 702-946-0843
... more
0 votes 7 answers Share Flag
Sun Sep 11, 2011
Joseph Domino answered:
This is a gamble. I have done it in the past and it cost me money to advertise and service the listing. By the time they were willing to lower their price they switched agents (didn't work for them, still too high).

But, on the flip side you have your signs up which could result in another listing or a buyer.

I think it depends on the house, the owners and the market.
... more
0 votes 9 answers Share Flag
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