Litmus Test for Real Estate Skeptics

This link was passed to me via a friend on the Facebook network. It deals with the public's skepticism regarding real estate professionals. I think she makes some very good points for all of us - real estate professionals and consumers alike. Take a read and share your thoughts or experiences -- both good and bad!  Re-Think Real Estate

Home Improvement Myths

Here, via Trulia, is an interesting list of "myths" regarding home improvements. Not all home improvements are created equal. I thought home owners might enjoy this.... http://www.trulia.com/guide/home_selling/increase_your_homes_value/top_10_home_improvement_myths/

New "What Locals Think" Widget

Okay, all you local St. Louis folk. I just added a widget to my Blog site that allows you to review the city/metro area in which we live. Let's put some updates out there to let out of state visitors know what's great -- or maybe not so great -- about the St. Louis area!!

SUNDAY OPEN HOUSE 6/13/10 from 1-3 PM

Price: 135000 | Address: 10334 Saint Henry Lane | Beds: 3 | Baths: 2 | Sqft: 1414: Very cute home in St. Ann - right in the heart of St. Louis County! Come take a look and you won't be disappointed!

What The Heck are "Red Flag Rules" ...

...and why should you care?

If you think you’ve noticed that more businesses have been asking for even more identification lately, it’s not your imagination. Don’t be surprised if a retailer asks for your birth date or your mother’s maiden name if it’s providing credit for your big-ticket purchase. Generally, if someone asks me for my mother’s maiden name, I’m just as likely as not to tell them it’s NOTB (none of their business). Well, being the polite person I usually am, I would probably just (politely) ask WHY they need that info. However, federal regulations designed to help prevent identity theft – called the Red Flag Rules – are going into effect this month and those regulations do make it their business. If you haven’t already noticed the trend, you probably will soon. Try not to feel insulted or annoyed.

Consumers are expected to benefit from these rules, most likely from less identity theft. Or at least that’s the plan. The downside – yes, there is always a downside – is that you’re probably going to feel like businesses are asking things that shouldn’t matter, or that are really NOTB. If we didn’t have identity thieves behind every ATM (Ok I’m exaggerating, but it feels that way) we wouldn’t need extra rules.

In any case, if you’d like to learn more about these rules and what businesses are affected, please check out the FTC (Federal Trade Commission) website here: http://tinyurl.com/4xcpwo

These rules are already impacting the process of obtaining a mortgage, which is really why I’m posting this here. Be prepared for your privacy to be absolutely assaulted (it feels that way) while going through the process. It really isn’t all that painful, but they do ask for more information, more often. I will be posting on new lender rules, and how they might impact your home purchase next week.

Until then, put on your “patience” hat when you go shopping….

The Tax Credit is Gone. Now What??

I have to admit, I really liked that tax credit!! I think it helped out a lot of buyers over the past couple of years, and this year it probably benefited a many sellers as well. But the big question is "what now"?

Well, frankly, I find myself saying "I don't know" quite a lot these days. And truthfully, no one knows. We won't know for another year or two when we can actually look back at the data and say one way or the other.

We are definitely in a buyer's market and have been for a while, although that has been tempered by the tax credit, at least in the areas I usually work. I suspect it will become even more of a buyer's market. Sorry, sellers.

So what's a seller to do? Well, since I'm a Realtor I absolutely have to say this: get yourself a good Realtor, someone you trust, and then listen to them. We truly want you to get as much as you can get for your home, but at the same time, we don't really want your home languishing on the market so long that buyers think there's something wrong with it. And yes, that still does happen. Frequently.

I hope the market continues its apparent rebound, tax credit or no, but I do tend to be just a little skeptical. I would like nothing better than to be proven wrong!!

Readers, what do you think?

10334 Saint Henry, St. Louis, MO | Powered by Postlets

10334 Saint Henry, St. Louis, MO | Powered by Postlets

I have an awesome new listing in St. Ann! This cute home offers 3 bedrooms, 2 full baths, and a family room all on the main floor and the home has over 1400 SF of living space. The full basement could be finished for even more space. Centrally located, 10334 St. Henry is close to major interstates, bus lines, shopping and dining. It's been well maintained over the years, and is move-in ready. Check it out!