Existing Home Sales Are Up 15% in St. Charles County and the Median Home Price Is Up Too

Affordable, reasonably priced homes are waiting for new buyers


The St. Charles region is in real estate bounce back mode with sales of existing homes up 15 percent during the first quarter of this year as compared to the same time last year. The median home price rose to $169,000, a $2,000 increase, beating the national media price of $166,100. This increase mirrors the price increases in nearly 60 percent of U.S. cities during the first quarter with double-digit increases in 29 cities.

Joe Sahrmann, president of the St. Charles County Association of Realtors, sees the market rebounding from the challenging times of the last few years. “We haven’t seen homes this affordable in years.” he says, “The selection is wide and varied for different income levels. Mortgage rates are staying low for now, and St. Charles is nationally recognized as a great place to live.”

And, even though the homebuyer tax credits have expired, it’s still a great time to buy a home, he says. 26 percent more homes are under contract during the first quarter of this year than compared to the same period in 2009.

Some of the increase was fueled by the government’s income tax credits for first-time and returning homebuyers. About 2.2 million households participated in the tax credit program, which cost the government $16 billion, according to the Internal Revenue Service. And, sales in March surged following a three-month decline attributed in part to harsh winter weather.

What does the near future hold for real estate? The industry is an integral part of the American economy, intertwined with employment and finance. If those factors stabilize and increase, the National Association of Realtors predicts prices will increase modestly in the second half of this year.

Slow but steady wins the race, and that axiom is certainly true for the real estate market these days. As buyers become more confident in their spending patterns and realize the market value, we’ll climb back to a robust St. Charles County.

St. Charles County Real Estate
Written by Myra Vandersall

St. Charles Missouri Real Estate Speaker

Merle Schneider recently was the guest speaker at three local gatherings. New Frontier Bank Advisory Board at the Convention Center. Merle also spoke at Premier Bank Center St Peters to bankers and local investors as well as Assured Title Advisory Board at Bristols Seafood Banquet Room. Merle spoke on the local real estate recovery demonstrating real estate sales statistics
indicating the St Charles Region is well on the recovery track and in numerous comparative analysis ranks at the top of the list of regions effected by the recent downturn. Evidence shows the local market is in full swing and in price ranges under $200,000 that it has changed to a Seller’s Market. The recovery locally is from the bottom of the price ladder upward and center outward geographically.the outlying areas are now beginning to feel definite recovery.leading to a “New Normal”. New Construction also reported good news in the more modest price ranges.

Merle is available as speaker and is considered the area’s Real Estate Market expert closely tracking sales results. He formed and is Chairperson of the Public Relations Committee of St Charles County Association of REALTORS and is Co-Owner of SCHNEIDER Real Estate, Inc. as well.

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

Calendar of Events

Month of November
Native American Heritage Month
St. Charles Community College celebrates Native American Heritage Month Festivities with concerts, documentary films, panel discussions, and a luncheon event, “The True Story of the First Thanksgiving.
For schedule, go to www.stchas.edu
Or call 636-922-8544 FREE

Wednesday, November 4
Medicare Update 2010
10-11 a.m.
Progress West HealthCare Center Community Room
CLAIM is a Medicare and insurance counseling program that provides free confidential and unbiased counseling. Learn changes in Medicare for 2010, how to access services, Medicare Part D. To register, call 636-344-2273.

Tuesday, November 10
Back In Time: Explore History
St. Charles :Les Petites Cotes
7 p.m.
Kathryn Linnemann Branch, St. Charles City-County Library Don and Dianna Graveman will discuss and sign their new book. In 1769, French Canadian fur trader Louis Blanchette built a cabin on the Missouri River in what is today St. Charles. He called the settlement Les Petites Côtes, or the little hills. Today St. Charles hosts many annual events to celebrate its history and transport visitors to the past.

Wednesday, November 11
Veterans Day Memorial Service
11:00 AM
At the Veterans’ Memorial at Bishops Landing along the riverfront.

Wednesday, November 11
THANK YOU, VETERANS!
McClay Branch, St. Charles City-County Library
10:00-2:00 p.m. Honor the veterans who have served or are serving in our Armed Forces. Make a thank-you card for a veteran and enjoy coffee and doughnuts. Supported by the Friends of the Library.

November 27-December 26
St. Charles Christmas Traditions
Historic South Main Street
Opening ceremonies at 11 a.m. at the Gazebo at 400 S. Main Street (Kister Park) with Santa’s arrival and hanging of the greens.

Holiday festivities include Santa Parade every Saturday and Sunday at 1:30 p.m., carolers, special shop hours, ice skating, fife and drum corps, carriage ride

November 27-December 30
Celebration of Lights
Fort Zumwalt Park, O’Fallon
Hours: Sunday, Tuesday-Thursday 6:30pm-9pm & Friday and Saturday from 6:30pm-10pm
Holiday light display of more than 1 million lights and a 1-mile display of holiday scenes.

Buyers are looking for homes during the autumn season

Spring and summer may be the traditional time to buy and sell homes, but autumn and the beautiful fall palate could be your time for a successful sale.

Autumn is traditionally a season of recovery and reflection, a time to burrow in after the frantic pace of summer. For sale signs pop up on lawns during spring and summer, as families with children want to get settled before school starts.

But buyers are still out there during the fall season, looking for a good deal. And there’s more good news. A recent survey by Relocation.com found that 50 percent of those surveyed moved to improve their living situation, whether a bigger house or to a better neighborhood. A previous survey in March 2009 indicated the recession played a major part in selling and buying decisions.

Here are some tips to help you get maximum dollars for an autumn sale.

  • How your house appears during a drive-by is the first step. Trees have great appeal, especially in the fall with the brilliant red, gold, yellow and green palates showcasing your house. Continue tending to your outside upkeep. Trim back shrubs, remove dead or almost dead annuals and trim dead limbs from trees. Add color with freshly planted annuals like mums, pansies and petunias. Rake leaves, or shovel snow, making a clear path to your home and one that is not fraught with dangers.
  • Light and bright on the inside is the way to go. Let abundant sun shine in. Consider replacing heavy drapes with lighter ones to show off your house and avoid that gloomy look.
  • Give your potential buyers that cozy feeling. If you have a fireplace, make sure it’s in working order, and have a nice fire burning. The glow really sets off the richness of hardwood floors and offers the viewer an at-home feel. Temperature control is important too. Not too hot and not too cool.
  • Decorating is a nice touch, but take it easy on the holiday decorations. Potential buyers are not impressed when they have to work their way through dangling spiders, ghosts, witches and giant turkeys. Prepare you home for the season, certainly, but use some restraint.
  • Speaking of spiders, wee little critters do come in your house in the fall, and that’s normal. Be vigilant and eliminate cobwebs and insects. Check corners and closets so that a buyer doesn’t have any unpleasant surprises.
  • Be flexible. The housing market is in the recovery stage, but we’re not at the robust stage. Give serious consideration to your price and negotiable points, such as closing costs and inspections.