June 2018

Found 3 blog entries for June 2018.

Welcome to another edition of Mark's Market update. The summer is definitely here. 102 degrees, 93% humidity. If you're in St. Louis, you understand what I am talking about and if you are not in St. Louis, you are not missing anything, Now back to real estate: We are still seeing soft inventory levels and single digit inventory growth over the last month and consistent with last year. Interest rates this week are still 4.6% to 4.65%, which is consistent with prior week and over last month they have dropped. However, I am concerned about "loose lending" that is occurring and reminds me of 2008 and prior. We are seeing Stated Income Loans coming back, Loans to Borrowers with credit scores under 600, 3% or less down on Jumbo Loans and other risky

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Welcome to another edition of Mark's Market update. Great news in the interest rate arena. Interest rates this week hit 4.6% to 4.65% vs over 5%, 4 weeks ago. Active inventory in St. Louis County, St. Charles County, St. Louis City and Jefferson County is down 8% over previous year. Some offset is the significant increase in New Construction which is booming. Buyers are paying premiums for new construction, but they are able to get what they want in the areas they want. "Fall Out of Contracts" are higher than any time this year. Buyers are writing contracts, getting under contract and then "catching their breath and changing their mind" and terminating the contract. We are starting to see homes go on the market and all contracts reviewed x days

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Mark's Market Update: Listen to Mark's Interview on KMOX 1120 with Mark Reardon on the "Mark Reardon Show” and “Total Information PM”

Welcome to another edition of Mark's Market update, taking place at KMOX 1120 am with our good friend Mark Reardon, host of The Mark Reardon Show and Total Information PM. Listen to the entire interview for market insights. Per S&P CoreLogic Case-Shiller index for March, National home prices rose 6 1/2%, there is 3.8 months of inventory, which is lower than 1990 levels, and home prices will continue to rise. Per Mark Gellman, when evaluating the following markets: St. Louis, St. Louis City, Jefferson County, St. Charles for Month of May 2018 to date vs same period 2017; unit sales down 10%, prices up 2.5%, $ /sq

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