St. Louis Real Estate News

St. Louis Real Estate News is an online publication that publishes articles and distributes press releases for the real estate profession in the St. Louis metro area.  Most of our content is provided by St. Louis based award-winning journalist that understands the local real estate market.  Our articles will include relative news including, but not limited to, acquisitions, partnerships, mergers, business profiles, business reviews, developments or just about anything that affects the St. Louis real estate market or industry.

Our article are shown on Bing News, Apple News, News360.com and shared to our massive social media network expanding to more than 50 social sites including Google+, Facebook, Twitter, Tumblr, Blogger and more.

STLRealEstate.News is a member of the STL Properties family of real estate websites designed to enhance the online presence of the local real estate professional whether you are a realtor, commercial realtor, property manager, builder or any other related real estate professional/service provider in the St. Louis area.

STLRealEstate.News – is an online blog site that publishes news about the St. Louis real estate industry. It is properly indexed with Google, bing, Yahoo and Yandex for maximum online visibility. Additionally, our content is currently shown on bing News, News360.com and shared with more than 50 social sites like Google+, Facebook, Twitter, Tumblr, Blogger and many more. News receives the highest online recognition by the major search engines; therefore, press releases with reference to you or your company receive top rankings in news and search. Furthermore, the links from our news site to your website are highly valuable and will enhance your websites rankings.

ST. LOUIS, MO: (STLRealEstate.News)

we publish news articles daily about the St. Louis real estate market, profession and everything relating to it, including, realtors, attorneys, title companies, property management companies, lawn maintenance, builders, plumbers, electricians and much more.

Our objective is to provide the best online, up-to-date information about the St. Louis real estate industry/profession. We think this is a great opportunity. It is our opinion that the local St. Louis real estate market has gone much overlooked, from a journalist perspective, and under-reported in the past and from all evidence that currently exist, it appears that the local real estate market is rebounding and possibly one of the hottest markets in the country.

Our approach is different, we publish and distribute press releases for businesses involved in the local real estate market in any capacity. Therefore, realtors, property managers, etc. write their own news using the format of a press release and we distribute it using our highly optimized blog site.

STLRealEstate.News is owned and operated by K Amants, LLC, which is owned by Kevin Amant. Our site is made possible by the support of Amant’s Floor Care. They have provided quality floor cleaning services to the St. Louis metro area since 1969.

Soulard’s Restaurant suffers devastating fire

Soulard's Restaurant

ST. LOUIS, MO/March 18, 2017 (STLRealEstate.News) A historic restaurant, in a historic building in the historic district of Soulard burned Friday, March 17, 2017 at approximately 6:00 pm.  St. Louis’ finest, The St. Louis Fire Department responded to the alarm preserving the structure of the building, but the inside appeared to be an unconfirmed total loss.

The establishment is known as Soulard’s Restaurant and Bar located at 1731 South 7th, St. Louis, MO.  Soulard’s has been in business for more than 40 years according to the establishment’s website.

According to an employee, they were cleaning backed up grease and food and a fire started quickly spreading.  Employees vacated the facility to safety after calling 911.

According to the company’s website, they call the fire “devastating.”  Being present for the tragedy their description is a reasonable one.  They have not provided any further details.

Tim Badock is the owner of Soulard’s Restaurant & Bar.  Another member of the Badock family, Dan Badock, owner of Lewis & Clark restaurant located in St. Charles, MO suffered damages from a fire on March 8, 2017.

Friends interviewed at the scene felt confident that Badock would reopen after repairs are made stating that Badock is a dedicated restaurateur, however, that has not yet been confirmed by Badock.

Soulard’s Restaurant is considered a fine dining steakhouse with seafood options.  Their online reviews range, but it is around a 4 to 4.5 star rated restaurant with a long history.  Certainly, many local residents will be hoping for further information about Badock plans.

Pictures and video courtesy of St. Louis Media, LLC

Sellers becoming more selective in the St. Louis seller’s market

St. Louis sellers market

ST. LOUIS, MO/March 18, 2017 (STLRealEstate.News) It was only a matter of time before sellers started to take advantage of their seller’s market in St. Louis today.

Barry Upchurch, president of St. Louis Realtors, sat down this week to explain the seller’s market hold on St. Louis and how sellers are taking advantage of their positioning.  “It is an undoubted seller’s market today, as we are seeing multiple contracts on a home and condo when they come onto the market,” said Upchurch.  “Since seller’s have such a hold, they are becoming more picky with terms and conditions, like obtaining bulletproof pre-approval letters.  This all points to the fact that buyers need an excellent negotiator in their corner.”

Upchurch did argue that it could be interesting to see which way the central corridor in St. Louis will go this spring.  He noted that inventory is definitely low, and although sellers consider themselves on top of the world today, buyers are starting to get selective about their purchasing decisions as well.

“There may be low inventory in the Central West End, but buyers are starting to be more selective in their decisions early in 2017, another good reason to consider realtors when weathering this hot-and-cold market,” said Upchurch.

All local realtors do agree that now is definitely the time to act as the economy heats up this year with the Fed increasing interest rates.  The bargain exchanges that are occurring in St. Louis right now won’t be the same bargains a year from now.  “Now is definitely the time to act for people who are looking for the real estate steal of the century,” said Upchurch.

It should definitely be interesting to watch the course of the St. Louis real estate market throughout 2017.  One thing is for sure: the competitive interest is a good sign for the health of the region.

2017 is quite the seller’s market in St. Louis

2017 is quite the seller’s market in St. Louis

ST. LOUIS, MO/March 17, 2017 (STLRealEstate.News) All signs pointed towards another seller’s market year in St. Louis for 2017, but local realtors are still surprised at just how seller-centric the market is shaping up to be.  The downtown St. Louis city condo market “took off like a rocket ship” by doubling the sales volume for the first two months of 2017 compared to the same time period in 2016.  That’s a pretty staggering increase, noted Barry Upchurch, president of St. Louis Realtors.

“Not only did the dollar per square foot of condos increase – from $124 per square foot to $130 per square foot for the first two months – but also the median sale prices held at $216,000, as consumers sought slightly smaller condo units averaging around 1,500 square feet compared to last year’s 1,610 square feet,” said Upchurch.

Though, for certain portions of the city, the story is not the same.  Upchurch confirmed that the Central West End (CWE) area, another key anchor of the central corridor, had the dollar per square foot dropped from $205 to $194 so far this month.  “Most significantly, the average square footage of condos dropped from 1,833 to1,471, again showing the consumers want smaller living spaces for a slightly lesser sale price as interest rates start to move upward,” he said.

Another trend to notice is that the sale of single-family residential home sales was cut in half the first two months of 2017 when compared to 2016, with the median sale price dropping significantly.  Though, Upchurch noted, this is the slowest real estate time of the year, and with spring approaching, the median prices are sure to spike upward again.

From an overall perspective, Upchurch noted that the central corridor had nearly 400 single-family homes and condos that were absorbed by the market over the last year, ending in the month of February 2017.

2017’s most appealing small towns to live in

most appealing small towns

March 15, 2017 (STLRealEstate.News) Small towns can frequently get a bad reputation for being too tightknit and gossip oriented.  But, not every small town is a boring place to live.  America is known for the romanticized countryside, full of tiny homes everywhere you go.  Realtor.com decided to sit down and analyze the top 10 most appealing small towns to live in 2017 – places people would actually want to settle down in.

Realtor.com ranked more than 500 U.S. Census-designated metropolitan areas by median home price, factored in low unemployment rates, crime rates below national average, and households that spend no more than 28% of their annual income on housing costs, so that they have just enough left over for everything else.  The results were median home prices that ranked from just $65,500 to $139,000, a significant decrease from the median price tag of $800,000 in an area like San Francisco.

The number one finding was that Mexico, Missouri, with a media home price of $65,500 and an unemployment rate of 3.6%.  The town is a surprise mecca for the arts, with no shortage of indigenous artist and ambitious local performers.  It’s home to the Presser Performing Arts Center and a plethora of music and art festivals that take place year round.

Next comes Guymon, Oklahoma with unemployment at 3.1% and a media home price of $76,000.  Located next to the Hugoton natural gas field, the town boasts a variety of jobs in oil, bio energy, and renewable energy.  It’s also a diverse little place, home to refugees from Eritrea, Somalia, Sudan, and Myanmar, many who came over to work in the nearby pork factories.

After Guymon comes Decatur, Indiana, with an $81,900 media home price and 3.1% unemployment.  It’s located just 30 minutes from Fort Wayne, but offers residents the same homes as a fraction of the price.

Finishing off with Oskaloosa, Iowa, and lastly, Hereford, Texas.

Kiener Plaza To Reopen In May

Kiener Plaza To Reopen In May

ST. LOUIS, MO/March 15, 2017 (STLRealEstate.News) A popular attraction in downtown St. Louis is expected to reopen in the spring.

CityArchRiver officials announced that Kiener Plaza west of the Old Courthouse will reopen in May.  A more specific date for the reopening of the Museum of Westward Expansion this year is expected to be announced next month.  This is all part of the Gateway Arch grounds renovation project, which is scheduled to be completed by the end of the year.

Much of the remaining work for Kiener Plaza, which has been closed for over a year, involves landscaping.  Project organizers say we can expect to see more planting in the next couple of months.

Another upcoming milestone for the project is that rides to the top of the Arch are scheduled to resume in late March.  This will only be on the south tram as the north tram won’t be back in operation until late April.

The entire $380 million project which began in 2013, will be completed two years behind schedule.  The initial projected finish date was for 2015.

CityRiverArch’s vision for the project is to create a safer and more user-friendly experience for visitors.  This involves a new design connecting the park’s grounds with the museums.

The design begins with a new Park over the Highway that will, for the first time, allow visitors to walk from the Old Courthouse to the Arch grounds as well as to the riverfront on one continuous greenway.

The project was designed by world-renowned landscape architecture firm Michael Van Valkenburgh Associates.  The firm’s design includes new spaces for events and public education, expanded museum space, additional park acreage and bicycle trails, children’s play areas, performance venue.

The project will also have a significant impact on the regional economy, according to CityRiverArch officials.

Officials say these changes will bring an added impact of $367 million and 4,400 permanent jobs to the region.  That’s the equivalent of one additional St. Louis Cardinals baseball season each year or more than four NCAA Final Four Tournaments.  In addition, the project will bring 530 construction jobs to the region over the next three years.

Marriott’s Newest Hotel Brand To Open in Chesterfield

Marriott's Newest Hotel

CHESTERFIELD, MO/March 14, 2017 (STLRealEstate.News) This spring, a Marriott TownePlace Suites is slated to open in a new location in Chesterfield’s Blue Valley development.  The 112-room all-suite hotel will be located near the St. Louis Premium Outlets, south of Interstate 40/64 near Chesterfield Airport Road.  The hotel will be on Blue Valley Avenue between Brasher Street and Premium Way.

The new TownePlace Suites is in the heart of recently-opened retail outlets such as a 60,000 square foot Gander Mountain, a 55,000 square foot Burlington store and a 20,000 square foot Cavender’s Boot City.

Hotel amenities include an indoor swimming pool, large meeting spaces and extended stay options for travelers or recent transplants to the St. Louis area.  Guest suites accommodate up to six guests and include studio, one bedroom and two-bedroom floor plans.

Extended stay hotels are a highly profitable segment of the hospitality market and nearly all hotel chains are expanding into construction of all-suite hotels.

So far, St. Louis has two other TownePlace Suites locations in Fenton and St. Charles.  Construction of Marriott TownePlace Suites is booming nationwide, with 300 hotels opening this year, and a projected 500 new hotels by 2020.

Silverstone Hotel LLC has a franchise agreement with Marriott to construct the Chesterfield TownePlace Suites.  Silverstone is owned by KMG Hotels based in Kansas City and operates and manages seven properties including Hampton Inns, Holiday Inns and Candlewood Suites.

The Blue Valley Development will grow to approximately 600,000 square feet of space with the opening of the new hotel.  The project is zoned for 1.4 million square feet altogether.

Microsoft to Open New Regional Headquarters in the Cortex Tech Hub in St. Louis

Microsoft - Cortex

ST. LOUIS, MO/March 14, 2017 (STLRealEstate.News) Microsoft will move its regional offices from Creve Coeur to the Cortex technology district in the Central West End in the summer of 2018.

The software giant will be the anchor tenant for a new $55 million dollar, 180,000-square-foot office and lab complex being developed by Wexford Science and Technology.  Microsoft will employ an estimated 150 people at the regional headquarters with sixty of those employees coming from the Creve Coeur location.

Officials of the Cortex Innovation Community say the move shows how the district has become a leader in innovation and technology in the Midwest region.  “The new Microsoft Technology Center brings another leading-edge technology resource to St. Louis’ booming innovation community, and its presence adds further credibility to the reality that St. Louis has become one of the leading growth cities for innovation companies,” said Dennis Lowar, president of Cortex.

Cortex was founded in 2002 through a collaboration among BJC Healthcare, the Missouri Botanical Garden, Saint Louis University, the University of Missouri-St. Louis and Washington University in St. Louis.  The district was cited by the Brookings Institution as a model of urban innovation districts.

“Opening a new Microsoft Technology Center in the thriving Central West End district is exciting for our company and our customers, as St. Louis continues to support a booming technology scene,” said Ervin Flores, general manager, Mid-America District, at Microsoft.  “We are thrilled to support local startups, as well as enterprises large and small, through our work with the Cortex Innovation Community.

MTCs bring together resources to design customized information technology systems for customers.  It’s estimated that Microsoft’s investment in the city amounts to more than $50 million in local jobs, facilities and software grants.

Ways in which U.S. retail is changing in 2017

retail changing

March 13, 2017 (STLRealEstate.News) The U.S. retail market seems to be making headlines lately, as realtors are fascinated with the online shopping trend that is resulting in the closing of millions of retail locations.  The market is changing rapidly, and there appears to be a greater demand than supply today.  According to the Washington, D.C.-based National Retail Federation, retail sales during November and December 2016 increased by 4 percent over 2015 to $658.3 billion, which greatly exceeded the forecasts. What does that mean for future retail forecasts?  Here are a few trends to watch in upcoming months.

1. Lagging Construction
New-construction on retail spaces has been historically low ever since the housing bubble in 2008.  The new inventory is far below historical (30-year) annual averages of growth in many U.S. metro areas.

2. Demand
Consumers are actually outpacing a lot of established retail stores today.  The problem is that the concentration is a little lopsided, forcing stores like Macy’s and Kohl’s to close thousands of locations nationwide while stores like Forever 21 can’t seem to keep up with demand.

3. Health Conscious
For whatever reason, people are health conscious today, and industry related to health, fitness, and organic-based products is doing incredibly well.  These expanding sectors are the ones scooping up any vacancies available today.

4. Declining Department Stores
Department stores and big-box retails, like Sport Chalet and Sports Authority, all filed bankruptcy in 2016.  Macy’s is closing 68 of its 750 department stores in 2017.  Kmart and Sears plan to close 150 stores in the near term as select storefronts undergo the real estate liquidation process.  It’s not looking good for the traditional shopping centers.

5. Online Shopping
Why spend the money going out to the mall when you can buy everything on Amazon.com today?  The online shopping trend is making it incredibly hard for construction workers and realtors to understand what kind of buying trend is coming in the future.

Stay tuned for more updates on commercial real estate and the U.S. retail sector.

America’s most sober cities dictated by religion

most sober cities

March 13, 2017 (STLRealEstate.News) For those more interested in living in a sober city rather than a boozy city, Realtor.com this week, in addition to their booze assessment, also sat down to determine which American cities are the least interested in boozing and opening bars.  The site found that as predicted, religion had a major impact on how likely a city was to be focused on boozing.

To begin the assessment, Realtor.com researched 300 American cities on their rate of binge drinking, the number of bars, wineries, breweries, and distilleries per capita, the percentage of homes with a wet bar, the number of drug and alcohol rehab centers, and the percentage of traffic fatalities that are related to drinking.

The results?  Realtor.com found that every month is Dryanuary in Utah, having the number one, Provo, and number three, West Jordan, most sober American cities.  Many residents take a pass on alcohol all year long due to the state’s large population of devout Mormons, who abstain from drinking alcohol as well as caffeine, aided by the state’s stringent liquor laws.  In restaurants operating today, bartenders are required to mix drinks out view behind a “Zion Curtain.”

The next trend proved that people live in the suburbs for a reason: they don’t want to party there, too.  Several of the most sober cities, including Daly City, California, at number two, and Hialeah, Florida, at number eight, are two family-oriented regions not interested in opening their arms to drove of bars and breweries.  For suburban residents, they do have the luxury of just taking a cab 10 or 20 miles to the nearest booze-friendly city.

Other sober cities include El Monte, California, with 12.7% of the adult population admitting to binge drinking, Memphis Tennessee, with 9.6% of population admitting to boozing, Laredo, Texas, with 13.6% of population admitting to boozing, and Newport News, Virginia, with 14.8% of the city admitting to boozing.

Like drinking? Here are America’s most boozy cities.

Like drinking? Here are America’s most boozy cities.

March 13, 2017 (STLRealEstate.News) America: the land of the free and a variety of different regions and cultures.  It’s a true melting pot, which means deciding what town you want to settle down in has a lot of factors considered.  For instance, are you someone who likes a drinking culture?  American cities rank from incredibly boozy, to starkly sober.

Realtor.com was curious to know how America’s drinking tendencies are broken down and their relation to real estate in those cities, so they assessed 300 American cities on their rate of binge drinking, the number of bars, wineries, breweries, and distilleries per capita, the percentage of homes with a wet bar, the number of drug and alcohol rehab centers, and the percentage of traffic fatalities that are related to drinking.

Who came out on top?  The Rust Belt sure loves their fair share of boozing.  Number one was Green Bay, Wisconsin, coming in with more than 150 years of suds-making history.  The binge-drinking rate is at 24% among adults, and locals confirm there are bars absolutely everywhere, as it is part of the city’s culture.  The heavy drinking culture is attributed to Wisconsin’s heavy German heritage and the Germans who popularized hopped beer back in the day.

After Green Bay comes a more hipster city, Denver, Colorado, known for a young population happy to buy craft beer and go party. Colorado is known for its craft breweries, and Denver is overflowing with them.

After Denver comes a colder climate, Billings, Montana with the number three boozing slot.  To accompany the city, Spokane, Washington, coming in at number seven, and Fargo, North Dakota, coming in at number eight, confirm that people need some alcoholic beverages at night to stay warm.

Does booze culture matter to you?  Be sure to do your research before settling down in a boozy city.