The Gellman Team Real Estate Blog

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 This Thanksgiving, let us at The Gellman Team do the baking for you.
 
We’re excited to announce our first annual client appreciation event this year. We’d like to thank all of our clients for their business, referrals, loyalty and friendship by inviting all of you to The Gellman Team’s Pie Day Giveaway.
 
On November 21st and November 22nd, stop by our office between 12 p.m. and 6 p.m. to pick up your free apple pie or pumpkin pie! Simply visit www.gellmanevents.com to register and tell us which kind of pie you’d like.  

 


Register at www.gellmanevents.com and tell us which pie you’d like.


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We’re thrilled to be able to offer

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Waiting until spring to sell your home seems like a logical idea, but in actuality, you’re better off listing it now.

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Should you wait until after the new year to list your house so it’s closer to the spring market, or should you list now?

To answer that question, you must take a few things into consideration. Where are you going to move? Are you moving to a different area with a different market, or are you moving within the same area? Different variables will produce different answers.

The market has been inconsistent for different price points. The $200,000 to $300,000 price point is still a very strong market in areas where the home is

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How should buyers and sellers handle the process of buying before they sell, selling before they buy, and potentially double-moving? This is one of the most frequently asked questions I hear from prospective sellers. They want to sell their home, but they don’t want to double-move.

What are my thoughts on contingencies? In today’s market, contingencies make a contract weaker. Some sellers want top dollar for their homes and aren't willing to reduce their prices. In those cases, many of our buyers have actually paid a premium for a home sale contingency and actually secured the home sale contingency so that when they listed their home, they could sell it and avoid double-moving.


A home’s value can change based on a number of outside

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Interest rates still remain incredibly low. Over the past two weeks, we are seeing historic lows that we haven’t had in three to four years. With all the financial instability we are seeing in the stock market and the changes that have occurred with the Brexit in the UK, there has been a downward pressure on interest rates, and we’re seeing rates lower than we ever have.

Well-qualified buyers are seeing 30-year mortgage rates around 3.5%, and even lower than that for 15-year mortgages. We are even seeing some buyers get rates in the 2.5% range.

There are some incredible financing opportunities allowing our buyers to buy a better home than they

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What is happening in the real estate market? Right now, the market continues to be consistently inconsistent.

Certain areas like St. Louis County and St. Charles County are doing great. Homes that are priced right and in move-in ready condition are drawing multiple offers, sometimes over asking price.

On the other hand, homes with deferred maintenance aren’t doing so well. Remember that bathrooms and kitchens sell homes. Homes without those updates that are not priced accordingly are really struggling to sell right now, even at discounted rates.

If you’re a buyer right now, you really have to be prepared to play in today’s market. You

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Many prospective buyers and sellers use Zillow as a starting place to gain a better understanding of the value of a property. The problem is that Zillow has a wide range of values. In fact, there is a disclaimer on their website that says the valuation can be off by 5% to 20%. This is based on information that Zillow has, and their data isn’t always accurate.

At this point, Zillow does not have all sold data, so it relies on poor numbers. Zillow is an advertising company that focuses on generating leads. Zillow promotes homes that are already under contract, or pre-foreclosure properties that actually don’t end up being foreclosed.

There is

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Today, we’ll go over a quick market update for the St. Louis housing market. Current market conditions have a lot to do with supply and demand.

In certain areas, there is an extremely limited of supply of homes. This creates a seller’s market. Many people often times hear about multiple offers coming in and homes selling for over asking price. That is happening, but only in select markets. In a broader sense, homes that are priced well and move-in ready are selling very well.

As a seller in those hot markets, we can remove the appraisal rider from many of these contracts in order to avoid any issues with offers over asking price. This move is

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What is a better investment, building a new home or buying an existing one? When we talk to our clients about this topic, we like to discuss not only the financial aspect, but also the opportunity cost of their time and money

The convenience of buying an existing home is you’re able to move in quickly. On the other hand, building can take a year or two to accomplish. If you’re in a hurry, or if you’re not willing to deal with the stresses involved in building a new home, you might want to consider buying an existing home.

 

Building a new home can be more expensive than buying a pre-existing one, but the benefit is you can design it

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Today we are going to discuss the impact that low interest rates have had on the St. Louis market lately. Low rates have had many different effects on the market. One of them is that many renters are seeing homeownership as a more reasonable and better investment than renting. In fact, the monthly costs are quite similar and right now, starter houses can be bought opportunistically.

Low interest rates have also improved the value of move-in ready homes. Buyers will spend a premium so they don’t have to use out of pocket dollars to update their home. Every $10,000 that a prospective buyer pays is about $50 to $60 on a monthly mortgage payment.

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Yes, homeownership is still included in the American dream. As long as you buy the property right, that is. You’ll be in luck if you have superb equity. Fixer-upper properties are still great options if you budget properly, too.

We absolutely believe in the American dream. When you own a home, there are so many special moments in that house. We embrace family memories! If all the numbers and emotions stabilize, it’s the right decision to make a move in today’s market.

The data also shows it’s a good time to act. Investment property prices are on the rise. Interest rates are historically low! If you’re thinking about buying or selling in

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