The Gellman Team Real Estate Blog

 

Hello and welcome to another edition of Mark's Market Update! 

What is happening in the market now that the sun is out and the snow is away?

First, I would like to draw your attention to 2 valuable links: “search all homes” and estimated value of “How Much Your Home is Worth." 

 

Now back to Mark's Market Update.

Back to what is happening, it is the same story we have a significant weakness in inventory, and a huge amount of pent up demand by buyers. 

The 2 biggest questions are:

Do I think this is a bubble?

• No, I do not think this is a bubble. The reason this is much different from 2008, which was our last big bubble, was equity from sellers was significantly less.
• There was stated income for

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"The Home is Yours!" - Buyer Specialist Dani Berg Helps Client Surprise His Wife 

A few weeks ago, Haifa had a Chinese fortune that said her dreams would come true. The fortune cookie was right!

Buyer Specialist Dani Berg has been working with Haifa's husband Waliy for months. They toured more than 40 homes together until they finally found the one! Waliy wanted to surprise Haifa, so he didn't tell her he had found a house and put in an offer. The offer was accepted!

Closing was just days away when Haifa finally found out about their dream home and agent Dani Berg got to share the surprising news!

Congratulations Waily & Haifa!

We love helping make our clients' dreams come true.

Connect with one of our Buyer Specialists today at

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27 Ellsworth Lane sits on a small hill overlooking a quiet, tree-lined street in the heart of Ladue. The home was constructed in 1940 in a picturesque neighborhood off of McKnight Road, and features 4 bedrooms (including a main level master bedroom), 4 bathrooms, and nearly 3,700 square feet of living space on more than half an acre. 

As soon as you walk in, the attention to detail and craftsmanship in the home are evident. For example, in the foyer the original hardwood flooring has a stained Greek key motif border, scribed millwork detailing on the stairs, and a faux stone painted pattern on the walls. The original hardwood continues throughout the house and other notable features include a custom kitchen with scrolled arches and an attached

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Hello, it’s Mark Gellman and welcome to another edition of Mark’s Market Update.

First, I would like to draw your attention to 2 valuable links: “search all homes” and estimated value of “How Much Your Home is Worth." 

 

Now back to Mark’s Market Update.

What happened in the month of January 2021 vs 2020? The market continues to be an incredibly strong seller's market.

• We have seen inventory levels, year over year, hit historic lows.
• In many markets right now, we are seeing weeks of inventory; not even months of inventory.
• Months of inventory, in a balanced market, is 6 months, in a seller’s market the months are approximately 3 months. Meaning that if there were no new homes on the market, in 3 months all homes would

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Welcome to another edition of Mark's Market Update! 

We’re in mid-January, and what happened in 2020? 

✅We ended the year with the lowest inventory levels in the last 10 years ~ Less than 1.5 months of inventory in the markets that we follow.

✅That is a severe sellers' market. 

✅A buyers' market would be about 7 months of inventory. 

✅Prices increased 20%+ year over year in many areas/subdivisions 

Evaluating the first 10 days of January- 2021 vs 2020

✅We continued to see inventory weakness, that is consistent with full year 2020. We saw a decrease in sales (closed homes) 2021 vs 2020 in the first 10 days of 25% 

✅Corresponding prices were up significantly. ranging up from 10-15% 

✅ Classic Supply and Demand, with weakness

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We love giving back to our clients and community! 

We bought our first moving truck back in 2014 and starting loaning it out for our clients to use. We also opened up the truck to local community organizations that might need it for special events or projects. This is a unique perk not often offered by real estate groups, but we're always looking for innovative ways to better serve our clients and community! 

In 2016, we doubled the Gellman Team fleet by adding a courtesy van. During the week it's used by our courier Roger, but it's available on the weekends. 

Over the past few years, the moving truck has become a well-utilized amenity for our clients...so well utilized that we decided to add another moving truck this month! Check out

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Welcome to another edition of Mark's Market Update! 

It was the same story in the 4 major markets we cover (St. Louis County, St. Louis City, St. Charles and Northern Jefferson County), except even more of a sellers' market.    1.5 months of inventory on average, in the 4 markets served. If no new homes came on the market in the next 1.5 months, all the current inventory would sell out.    Currently we are in an extreme sellers' market. A balanced market = 6 months of inventory. Reviewing the last 5 years by month, 1.5 months of inventory is the lowest we’ve seen.    Why do we have such little inventory?    There are just not enough homes coming on the market and those that came on in early…

The Gellman Team 5th Annual Client Appreciation Pie (Curbside) Give Away.

We are proud to have supported 8 Local Bakeries and 1 National Bakery and gave away 985 Pies!!! This is The Gellman Team's "Super Bowl"... We love our customers! 

Just over 1 month ago, the Gellman Team rolled out some new technology to not only increase the visibility of our listings, but to also make buying a home a little bit easier and safer in a COVID world. 3D home tours are not new; however, Zillow has made the system much more user friendly and accessible. In the spring of 2019, the company opened up their program to all real estate listings. The gamechanger: Zillow's 3D home tour program is free! 

Before Zillow's launch, 3d tours were expensive and time consuming to produce. Now, all you need to make your first tour is an iPhone and the free Zillow 3D app. For a more polished tour, you need a Ricoh 3D camera. According to Zillow's Senior Director of Product Development, 3D and Computer Vision, Josh

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Lindenwood Park is a St. Louis neighborhood located on the southwestern edge of the City, bound by the River Des Peres, Interstate 44, Arsenal Street, Hampton Avenue, and Historic Route 66 / Highway 366. The neighborhood shares its name with the public park at the center of the neighborhood. 

The area used to be part of Spanish colonial land from 1798, which was subdivided in 1850. Urbanization of the area didn’t begin until the 1880s and development spread along Fyler Avenue. The area was mostly developed by 1950, with the most recent development in 1963 at Lindenwood Heights. 

The majority of the neighborhood is predominantly single-family homes, with streets largely consistently developed as either wood frame (earlier developments) or brick

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