The Gellman Team Real Estate Blog

 

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

1,206 Views, 0 Comments

Want to sell your home? Get a free home value report 
Want to buy a home? Search all homes for sale

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

878 Views, 0 Comments

Want to sell your home? Get a free home value report 
Want to buy a home? Search all homes for sale

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

1,162 Views, 0 Comments

Want to sell your home? Get a free home value report 
Want to buy a home? Search all homes for sale

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

2,136 Views, 1 Comment

Want to sell your home? Get a free home value report 
Want to buy a home? Search all homes for sale

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

1,610 Views, 0 Comments

Want to sell your home? Get a free home value report 
Want to buy a home? Search all homes for sale


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

984 Views, 0 Comments

Want to sell your home? Get a free home value report 
Want to buy a home? Search all homes for sale

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.

782 Views, 0 Comments

Want to sell your home? Get a free home value report 
Want to buy a home? Search all homes for sale

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

1,020 Views, 0 Comments


Want to sell your home? Get a free home value report
Want to buy a home? Search all homes for sale


Today we are going to discuss the spring market here in St. Louis and why you need to begin your search now if you plan on buying at all this spring.
A lot of prospective buyers have asked why they should start the home buying process now when they don’t plan on moving until March, April, or May. Here are a few reasons why we believe you should start now.
1. There are great homes on the market right now. Because of low inventory and a low number of buyers in the market, there are some great homes out there right now and some great opportunities to buy them when the market is relatively quiet like it is now.

2.…
1,099 Views, 0 Comments

  Want to sell your home? Get a free home value report 
Want to buy a home? Search all homes for sale  

Today we're very excited to have Bill Keefer joining us. He is our listing specialist and was born and raised in the area, so he knows the terrain extremely well. His mother was a real estate agent in Webster Groves, so buying and selling homes is truly in his blood.

Bill has been a licensed agent for nearly 15 years, but only recently joined the Gellman Team. He saw something special taking shape here and he wanted to be part of it. Our customer service, systems, and aggressive marketing attracted him to our team.

Bill enjoys communicating with his clients in order to take care of their wants and needs, and he is passionate

866 Views, 0 Comments