The Gellman Team Real Estate Blog

Mark’s Market Update - Interest Rates and Inventory Levels
Welcome to another edition of Mark’s Market Update! Very consistent with last weeks market:

-It is still a sellers market

-significant weakness in inventory

-significant buyer demand

-we’re seeing multiple contracts

-we’re seeing over asking offers

-There is still significant strength in the market

The good news for buyers is that we are expecting an increase in inventory as we work through May and June. Also interest rates are historical lows -

For 2020 interest rates are 3.125% for a 30 year mortgage today. Compared to 2019 it was right under 4% & In 2018 that same loan was almost 4.5% So the buying power today is far more significant than it was just 2 years ago‼️

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Welcome to another edition of Mark’s Market Update.


Its the first week in May, we're getting used to the new norm but the good news is we are seeing some light at the end of the tunnel.

Certainly in the real estate market we are seeing some activity, I'm going to get in to Mark's Market Update but first we have another special guest this week, that I get to see a lot more now that I'm working from home...my daughter Lily!

Back to real estate... We follow 4 Markets, St Louis County and City, St Charles County and Jefferson County. In all four of those markets we've seen prices rise significantly compared to April of 2020 over April of 2019 - even during what's happened in the last month and a half, we've seen significant rise in price

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Welcome to another edition of Mark’s Market Update! This week we have a special guest.... our dog Gus


It’s been a crazy last month, but we hope everyone is doing well and staying healthy. Most importantly we want to thank all first responders and the front line workers. We appreciate you!


Now real estate... What is happening in the market? When looking at the market, April 1st through April 20, comparative 2019 versus 2020, In St. Louis County, St. Louis City, Jefferson County, and St. Charles, for unit closings.


1. Consistent in all markets down approximately 16%
2. As the April closings relate to early/mid March under contracts; we are not going to know the full market impact of COVID 19 until May closing data is analyzed.
3. New listing

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Welcome to another edition of Mark's Market Update

With these unprecedented times a lot of people are reaching out to us for our opinion, advice, and just as a sounding board. I by no means have the answers, solutions or even know the exact right thing to do or say. However, the one thing I can tell you for sure and unequivocally is that "We are here as a team for you" We will support you in every way possible, and in anyway necessary for you to make it through this challenging time. Each and every team member and client will handle this differently, which is perfectly OK. There is no right or wrong way to handle. My prayer for each and every one of you, is to stay healthy both physically and mentally.

Regarding real estate, we haven’t

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Welcome to another edition of Mark's Market Update

It has been a Heck of a Couple Weeks in the News!!

The Best News = Lowest Historical Interest Rates

30 Year ⬇️ Under 3.25%

15 Year ⬇️ Under 2.6%

Refinancing Gets You Free Buying ⬆️ Purchasing Power!!!

If you have any questions about buying, selling, or investing, don't hesitate to call, email, or text!

For an estimated home valuation: www.stlouishomevalues.org

Skip the hassles of selling and selling instantly: Stl Rocket Listing https://www.thegellmanteam.com/stlrocketlisting2.php

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 Here’s everything you need to know about our upcoming client appreciation event!

 

We are so excited for our fourth annual client appreciation bowling party, taking place at:

Saratoga Lanes - 2725 Sutton Blvd, Maplewood 63143

Sunday, April 19, from 2 p.m. to 6 p.m.

As is tradition now, there will be food, drinks, pool, ping pong, and face painting, so bring the kids

and the whole family. For that matter ~ maybe invite some neighbors, too!

We look forward to seeing you there!

As always, if you have any real estate-related questions for us in the meantime, don’t hesitate to reach out by phone or email. We’re here to help. 

info@thegellmanteam.com —314-336-1991

 

Rsvp Here!

  Want to sell your home? 
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Welcome to another edition of Mark's Market Update!

We are meeting with more and more sellers who are asking about preparation for sale. We know that the market recognizes homes that are prepared for sale, priced right, and marketed to the highest level possible. When evaluating preparation for sale, and what projects to complete prior to listing, it is important to know that every project has a different return on investment. Reviewing Home Remodeling Magazine Cost vs. Value 2020 there are a couple interesting things to highlight when focusing on the Midwest

Kitchen remodels:

Minor kitchen remodels will get you the best return on investment of any project.This includes updated flooring and appliances. There is about a 74% return on

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 Sarah Scheu is here today to share one of her favorite game-day recipes with us. It’s cheap, easy, and absolutely delicious.

In this video, I'm making a cheap, easy, and delicious Super Bowl dish. This recipe has only three ingredients: little smokies, brown sugar, and bacon. 

"It’s a simple recipe, but it’s always a hit."

All you have to do is take the bacon, stack it in strips, then cut it in thirds. Then you wrap the little smokies in bacon, secure it with a toothpick, and generously sprinkle the brown sugar on top. Then, throw it in the oven at 425 degrees for 10 minutes, flip them all over, then throw them back in the oven for another 10 minutes. When the brown sugar is bubbling, you’ll know it’s done. Check out what the

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