The Gellman Team Real Estate Blog

<iframe width="560" height="315" src="https://www.youtube.com/embed/K2Xu-vSUagg?rel=0" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>

 

It was a remarkable three days with some of the brightest real estate minds in the United States. We met to review best practices, discuss market trends and ways to improve the real estate experience for our clients. Consistent with our market, there is a significant weakness in inventory in all of my colleagues markets from the East Coast to the West Coast and in between.

Great homes that are priced right, prepared for sale, and marketed to the highest level are seeing high list to sale prices, and in many cases multiple offers over asking. Even though the markets are very strong,

57 Views, 0 Comments

Statistics for the last 10 years of active inventory in St. Louis County, St. Louis City, St. Charles County and Jefferson County.

When evaluating St. Louis County, St. Louis City, St. Charles County and Jefferson County combined, as of today there are 5,502 active listings (properties for sale). This is the lowest amount of active listings in the history of the last 10 years.

For reference purposes, in July 2008 there were 19,112 active listings in those same areas. Even this date in 2014 there were 8,539 active listings. However, as we have discussed in previous Mark's Market Updates, each location, price point has a different inventory level.

The market definitely needs more "mover up" homes, so that first time home owners can enter the

40 Views, 0 Comments

What is happening in the market in St Charles? Under $600,000, the market is extremely strong, however, for mid-market, buyers are looking for different options. Overall, St Charles is performing well on certain price points. Watch Mark's Market Update video for more information!

133 Views, 0 Comments

 

Want to buy a home? Search all homes for sale

Want to sell your home? Get a free home value report

 

Now that Thanksgiving is over and the winter season is upon us, what can prospective buyers and sellers expect from the St. Louis market over the next two months?

If you plan on selling your home, get your home on the market now. There is a weakness in inventory and there are still a lot of very motivated buyers out there. Some of these buyers were unable to buy over the spring and summer as a result of  a very competitive market. Since inventory has been very weak over the third quarter, there are still buyers that were not able to buy and are very motivated to.

Homes that are priced right, prepared to sell, marketed to the

430 Views, 0 Comments


Want to buy a home? Search all homes for sale

Want to sell your home? Get a free home value report

 

Now that summer’s over and school’s back in session, should prospective sellers list their homes in the third and fourth quarters of this year or wait until next spring?

We’re huge proponents of selling in the third and fourth quarters when there is less inventory in the market and a significant number of buyers who are still very active. Since a lot of buyers sat out the busy spring and summer seasons, they’re now making their move.

"We’re encouraging all of our sellers to put their homes on the market immediately." 

We’re encouraging all of our sellers to put their homes on the market immediately. The only ones who are exempt

311 Views, 0 Comments


Want to sell your home? Get a free home value report

Want to buy a home? Search all homes for sale

 

If you are thinking of selling your home, should you update your home or sell it as-is? If you decide to update, which areas will get you the best return on investment?

Before we list a home, we always make sure to assess which updates should be made before the property hits the market. Sometimes, if a home has been sitting on the market for a long time or coming back on the market after failing to sell, updates can help your property appeal to more buyers.

However, it’s important to be very cautious when updating your home. Some updates will get you a better return than others.

In our current market, move-in ready homes are

435 Views, 0 Comments


Want to sell your home? Get a free home value report

Want to buy a home? Search all homes for sale

 

Now that summer is over and school is back in session, what is happening in the St. Louis real estate market?

A common trend that started in spring and carried through the summer was a weakness in inventory of great homes that are priced correctly. Renovated homes in the $500,000 and under price range were selling with multiple contracts and bidding wars. Those homes were priced right, marketed to the highest level, and they were all move-in ready.

In the upper end of the market, many areas are in a buyer’s market. Some of those areas have over a year of inventory. Why are these homes taking longer to sell? It really comes down to

477 Views, 0 Comments