Tag - st. louis

St. Louis housing market keeps heating up

St. Louis housing market keeps heating up

ST. LOUIS, MO/June 25, 2017 (STLRealEstate.News) As the headlines have been saying for over a year now, the St. Louis housing market is red hot.  Days on market continue to dwindle, which means navigating the waters as a buyer can be pretty competitive and now expensive today.  One real estate agent spoken to by KSDK stated that he has been receiving a dozen offers on each of his home listings at this time.  With impossible odds for a lot of first-time home-buyers, there are some recommendations KDSK was willing to offer up for helping both buyers and sellers come out with a favorable result in the end.

For starters, have all “your ducks in a row” before you head out and start making offers.  Though houses are being snatched up in 2-weeks time, when they first enter the market, it’s time to pounce on the offering.  “It is a seller’s market, but that being said, it’s still a great time for buyers,” said Kenny Reinhold of Coldwell Banker Gundaker Real Estate.  “Last week I had 12 offers on one house.  If it comes on the market that day, you have to take advantage of it.”  Reinhold went onto state that a lot has changed throughout his 14-years as an agent in St. Louis.  “You have to be prepared. Inventory levels are so low right now that it’s creating multiple offer situations.  Being pre-approved is the first thing.”

In addition to being prepared, Reinhold also recommends that buyers get personal with the seller.  Human-to-human emotion has always been a big part of the real estate equation.

For those looking to capitalize from selling their homes, they should invest in hot-ticket renovations and cleaning services for staging.  “I think kitchen and baths. You’re seeing a lot of return on those,” said Reinhold.  Lastly, consider some video and drone footage of the home for the ultimate listing.

Millennials are shaping St. Louis’ industrial real estate scene

Millennials are shaping St. Louis’ industrial real estate scene

ST. LOUIS, MO/June 25, 2017 (STLRealEstate.News) Industrial Real Estate Scene – There are never-ending stories about how millennials are changing commercial real estate design and layout as we know it today.  They’re all about collaboration, open-aired spaces, and big ceilings with lots of light to flood the work-space.  Less talk is occurring regarding their desire to change the industrial real estate market as well.  Three aspects of that market, huge bulk distribution centers, the bread-and-butter office-warehouse sector, and obsolete manufacturing/warehouse buildings, are changing quickly because of millennial interest, especially in St. Louis and the Twin Cities region.

One reason this change is flying under the radar is because industrial real estate isn’t as visible as high-profile corporate offices or snazzy new apartments with unique fixtures.  However, industrial real estate is perhaps the most telling for where an economy is headed in the future.

Probably the most major way millennials are influencing industrial real estate is through the eCommerce explosion.  With their buying power on full display, eCommerce has exploded, and the supply chain for delivering goods purchased over the Internet has created the need for much larger bulk distribution warehouses than we have ever seen in the past.  The first St. Louis example is the build out of Amazon warehouses on the outskirts of the city.  These distribution centers will enable massive shipping capabilities with even the incorporation of same-day delivery options.

“Thanks to eCommerce, your brick-and-mortar retailers are going out of business, and in their place these huge distribution warehouses are popping up,” said Chris Garcia, a principal with St. Louis Park-based commercial real estate brokers Lee & Associates and an expert on the industrial market.  He provided the quote to the StarTribune. “Basically, say goodbye to Macy’s and say hello to a box in a cornfield.”

Additionally, millennials want these warehouses to be close to urban cores with open-air collaborative elements and something that makes the place “cool” to be in.

New Displays at Multi Village Community in Fenton, just south of Gravois Bluffs

New Displays at Multi Village Community in Fenton, just south of Gravois Bluffs

FENTON, MO/June 19, 2017 (STLRealEstate.News) Winding Bluffs is McBride & Son Homes’ master planned community in Fenton.  This 330 home-site community features amenities such as two spring fed ponds, a sports field center, dog park, and Guffey Elementary School within walking distance, inside this community.

There are four professionally decorated display homes now open.

The Estates at Winding Bluffs features McBride’s Oakwood series with move up single family homes with 8 floor plans and 3 or 4 bedrooms.  Prices range from the $240’s to almost $500,000.

There are two new display homes at The Estates at Winding Bluffs.  First you’ll find a four bedroom ranch style Hickory model with Colonial II elevation.  Upgraded granite counter-tops, vaulted ceilings in the great room and breakfast room, coffered ceiling in the master bedroom, and an upgraded master bathroom make up a few of these luxurious features.

A four bedroom, two story Sequoia model with a Renaissance elevation makes up the second display home at The Estates.  This two story model has premium cabinetry throughout the home, gas fireplace with marble surround, an upgraded master suite and more.

The Manors at Winding Bluffs features McBride’s Bayside series with starter single family homes.  There are a variety of 10 floor plans with 2 to 4 bedrooms.  Prices range from the low $200’s to the mid $300’s.

At The Manors at Winding Bluffs you’ll find an Aspen ranch model with a full brick front exterior, three bedrooms and two baths.  This home features a lookout basement, composite deck, open kitchen layout, upgraded hardwood flooring and main floor laundry.

Next door is a two story Royal II display home with Provincial brick elevation, 4 bedrooms and 2.5 baths. Unique features include a large kitchen with center island, luxury master bath, 9’ ceilings on the main floor, and upgraded wood flooring, all on a lookout basement with a composite deck.

“With wooded home-sites, an incredible community size, and a prime South County location, this community is one you have to see,” stated John F. Eilermann Jr., CEO and Chairman at McBride & Son Homes.  “There are wooded home sites available as well as many cul-de-sac and walk out home-sites.  Most importantly, Winding Bluffs features the most affordable pricing of new homes in the area.”

Winding Bluffs is conveniently located off Highway 141, and right down the road from the extremely popular Gravois Bluffs district.

“There are several fun recreational amenities located within this master planned community including a dog park, soccer fields, and nice walking trails,” stated Eilermann.  “Plus Winding Bluffs features a variety of home styles to fit your family’s needs.  This truly is a must see community.”

Winding Bluffs is open daily from 10 am to 6 pm for viewing along with several inventory homes under construction and ready for a quick move in.

To visit Winding Bluffs, take Hwy 141 to west on 13th Street.

For more information on The Manors at Winding Bluffs contact Kristen Lewis at (314) 440-1438.  For information on The Estates at Winding Bluffs contact Patti Thomas at (314) 440-6270.

___

Source: McBrideHomes.com

Housing Tides Index™ June 2017 – Housing Data Shows Improvement as Mortgage Delinquencies and Foreclosures Fall

Housing Tides Index™ June 2017 – Housing Data Shows Improvement as Mortgage Delinquencies and Foreclosures Fall to New Lows

DENVER, COLORADO/JUNE 15, 2017 (STLRealEstate.News) This week marks the release of the June Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. This month’s Index update reveals an improvement in housing market health as loan performance improved to the best levels in nearly a decade.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

Black Knight Financial Services (BKFS) recently reported that the mortgage delinquency rate fell to 3.62% in March, and a review of historical U.S. mortgage delinquency data provided by the Federal Reserve Bank of St. Louis shows that this is the lowest rate of mortgage delinquency since late 2007. This continues the trend of mortgage market normalization, though delinquencies have not yet fallen to their pre-recession level of less than 3% of borrowers delinquent. On a similar note, BKFS reported a fall in the foreclosure rate to 0.88% of all mortgages, which is also a multi-year low. However, considerable differences in foreclosure rates remain among U.S. states. States with a judicial foreclosure process where proceedings must go through a court still have far higher foreclosure rates; judicial states New York and New Jersey had rates over 2.5% in March per the BKFS report, while non-judicial states Colorado and California recorded foreclosure rates of 0.2% and 0.3%, respectively.

After falling at the end of 2016, median asking rents for two-bedroom units have risen in two straight months according to latest data from Zillow. Still, with the asking rate at $1,575 per month nationally in April, rents remain below the peak of $1,750 seen June 2014. We expect rent price increases to ease in the near term given the high number of rental units under construction (U.S. Federal Reserve data show 612.1k housing units in buildings with five or more units under construction in April, the highest total since late 1974).

However, despite the large number of apartments approaching completion, upward pressure on rental prices should continue due to persistent tightness and rising prices in the for-sale market. Real estate brokerage Redfin reported that housing supply edged up slightly to 3.1 months of supply nationally in April while the median sales price reached a new high of $280k. 26 of the 41 metro areas tracked by the Tides team set new highs for nominal post-recession median sales price in April.

The Federal Housing Finance Agency reported that the U.S. effective mortgage interest rate for loans closed decreased to 4.1% in April after peaking at 4.4% in February. As such, mortgage interest rates are higher than the recent low of 3.72% seen just prior to the presidential election, though rates remain favorable when compared to the historical norm.

Single-family housing permits fell sharply in aggregate across the metro areas we track, totaling just 35,600 in April after reaching 40,100 in March. Multi-family permits increased in April, totaling 24,200, but the six-month moving average fell slightly to a rate of 23,500 permits per month.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind.

___

Source: Housing Tides Report

Press Release distributed by PRWeb

Nationwide retail sales slip 0.3 percent

Nationwide retail sales slip 0.3 percent

June 15, 2017 (AP) (STLRealEstate.News) Just in case the decline of the American retail sector couldn’t be happening fast enough, reports this week confirmed that this past May registered the biggest nationwide drops in 16-months, a cautionary sign for the economy. The stat coincides with Americans cutting costs on gasoline as well, benefiting from the world of commerce right at their fingertips through online shopping.

The Commerce Department says that retail sales slipped 0.3 percent last month, the first decline since February and the sharpest decrease since January 2016. Economists were hoping that the figure would at least increase by 0.1 percent after April’s strong showing. When looking at the stats further, sale sank 2.8 percent at electronics stores, 2.4 percent at gasoline stations, and 1 percent at department stores, which have seriously struggled with the competition that is coming from online retailers, most notably Amazon.com.

Economists at the onset of 2017 predicated that consumer spending, which accounts for 70 percent of the U.S. economic activity, would pick back up in the spring and summer after a slow start to the year. May’s numbers have proved otherwise. Economists are worried for the implications that will result from such a drastic consumer pivot. American retail has been a cornerstone bedrock for the American family since after WWII, and the shift away is leading the country into unchartered consumer territory.

Though most businesses are finally accepting that they need to get their operation online, it’s not an easy pivot for small businesses that can’t afford the shipping and logistics costs. Amazon.com and Walmart.com have the funds for a same-day delivery infrastructure that no other business can complete with today. Small business owners in St. Louis and beyond would be wise to start offering some type of online access and consider partnering with local delivery companies for moving forward.

What does the growth of the gig economy mean for St. Louis employers?

What does the growth of the gig economy mean for St. Louis employers?

ST. LOUIS, MO/June 15, 2017 (STLRealEstate.News) The “gig economy” as it is referred to today, with an estimated 20 to 30 percent of American and European working-age population participating, is revolutionizing how employers and employees come into contact with other another for service exchanges.  It’s an independent approach to support, one that focuses more on “freelancing’ than it does on “employment.” It skirts around traditional employment laws and taxation norms, leaving a lot of workforce participants confused with how to process it all.

Gig economy is typically defined as “a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.”

The St. Louis Public Radio interviewed a few locals to ask how the gig economy is impacting their daily business operations.  Stephanie Leffler, the CEO and Co-Founder of Swansea, uses a digital platform to connect over 100,000 short-term contract workers in the digital field with businesses that need their skills.  “Just last year, we saw more than 1 million people try independent work for the first time,” she said.  “It is something that technology originally enabled and allowed to grow more quickly.  We’ve seen people learn about a bunch of different ways to supplement their income, or, in some cases, turn the gig economy to full-time.”

Saint Louis University Law School Professor Miriam Cherry, said, “I’ve been tracking over the past five to six years about 20 different litigation’s over this status.  Many companies will say ‘we only have independent contractors here,’ but when you look at the substance of the relationship and you see how much control is exercised over the work, they seem more like employees.”

Though there have been many settlements over the confusion, new classifications for such workers have not resulted.  The Fair Labors Standard Act is one that is coming into question across the city.

Centene enters ACA Exchange in Missouri

Centene enters ACA Exchange in Missouri

ST. LOUIS, MO/June 15, 2017 (STLRealEstate.News) As other insurers are fleeing the Affordable Care Act with uncertainty in Washington today, Centene Corp. is stepping in to fill the void in both Kansas and Missouri.  Three weeks following Blue Cross and Blue Shield of Kansas City stating their intent to pull out of the ACA by 2018, Centene Corp. says they will offer coverage through the exchange for all in need moving forward.  Already bringing with them a presence in both states for administering Medicaid plans, Centene Corp. will be in uncharted waters when they move to sell individual and small group health plans.

At this time, reported the St. Louis Public Radio, it is unclear if Centene will offer those plans in the areas vacated by Blue KC, which will affect close to 67,000 people, leaving 25 Missouri counties without any insurer and other counties in the Kansas City area with just one option today.  In a news release put out this past March, Centene stated that they offer plans to 1.2 million exchange members elsewhere in the United States today.  They confirmed 90 percent were eligible for government subsidies under the ACA, which is also commonly referred to as Obamacare.

“Centene recognizes there is uncertainty of new healthcare legislation, but we are well positioned to continue providing accessible, high quality and culturally sensitive healthcare services to our members,” said chairman Michael F. Neidorff, president and CEO of Centene in a statement this last week.

Centene’s plan to act comes as other insurers flee the individual and small-group markets, unnerved by the talk of repealing Obamacare as soon as the Trump administration gets the majority to do so.  The administration plans to undercut some of the healthcare law’s key provisions, which could leave the big name insurers high and dry.  Just last week, Anthem stated they plan to exit the exchange in Ohio and will do so in Missouri once that’s completed.

STL Youth Jobs to provide summer training

STL Youth Jobs to provide summer training

ST. LOUIS, MO/June 15, 2017 (STLRealEstate.News) More than 650 area youth will be able to take part in paid job skills training this summer through programs that are being presented by nonprofit STL Youth Jobs. The nonprofit announced this past Monday that they will put $1.8 million toward the program this summer in hopes of providing local students with the training they need to be successful in skills-based careers. STL Youth Jobs, which formed back in 2012, focuses on helping youth in parts of the city where there are high rates of youth unemployment, poverty, juvenile crime, and low graduation rates today.

A spokesman from the nonprofit, Andrew Starr, stated that all program participants will be paid the St. Louis minimum wage rate of $10 per our, as opposed to the statewide rate of $7.70 per hour (while the law remains in effect). Although state lawmakers have since overturned the ordinance, it won’t be taken off the books until August 28, 2017 at the earliest.

Today, STL Youth Jobs partners with 225 companies for providing a variety of skills-based, hands-on training that is invaluable for youth looking to get real-world experience before they graduate from high school. With an economy desperately in need of students with vocational training, this program comes at a perfect time for many students that don’t necessarily perform well in the typical paper-and-pen testing setting.

“These are all employed positions for the summer that will receive paychecks rather than an internship type of program,” said Starr. “For many, this will be the first time they receive a paycheck and open a bank account for themselves. It’s invaluable experience from the hands-on training, to the real-life financial management exposure.”

Most internships are unpaid today, making them unobtainable for low-income families. With this pay-based opportunity, students can earn money and learn at the same time.

New tax incentive guidelines proposed for St. Louis

New tax incentive guidelines proposed for St. Louis

ST. LOUIS, MO/June 15, 2017 (STLRealEstate.News) This past week, St. Louis city officials from economic development came together to devise and propose new guidelines for the city’s construction incentives, the latest effort to reform the common tax breaks amid calls to better manage their implementation.  These “grey area” incentives have become a flash-point in recent years, and were big campaigning issues during the most recent St. Louis mayoral race.  Most candidates running called for curbing the use of these incentives in stable neighborhoods, making them more readily available to those who actually need them.

Last year, the city kick started the debate by releasing a report from 2016 that put the value of the tax breaks over 15-years at roughly $709 million.  Since that uncovering, the city has hired a financial analyst and is hosting stringent reviews of proposals seeking tax breaks.

Those who agree that these incentives should be left along argue many projects wouldn’t have been built without them, and that much of the forgone tax revenue never would have been generated in the first place.  However, critics across the aisle argue that the city has historically put few limits on incentives, unnecessarily subsidizing some projects in vibrant areas while thwarting developments for lower income neighborhoods.

“We need to create a template so we don’t have a bloodletting every time a project comes through,” said 17th Ward Alderman Joe Roddy, who presently chairs the Housing Urban Development and Zoning Committee.  The proposals on the table today call for capping development incentives in stronger neighborhoods and requiring large projects to undergo reviews by the St. Louis Development Corp., which essentially functions as the economic development watchdog in St. Louis today.  Other measures mentioned at the meeting include protecting the city’s existing revenue streams and keeping new voter-approved taxes from being captured by the TIF, or other tax-increment financing.

New upscale senior living facility opens, Stonecrest of Town and Country

New upscale senior living facility opens, Stonecrest of Town and Country

A new upscale senior living facility opens with strong community support in Town and Country, Stonecrest of Town and Country

TOWN AND COUNTRY, MO/June 14, 2017 (STLRealEstate.News) Stonecrest of Town and Country Senior Living facility hosted its Grand Opening and Ribbon Cutting with strong community support with an overwhelming turn-out.  The event featured first-class hospitality with red carpet entrance, champagne, appetizers, tours, valet parking and more.

Officials from Town and Country city as well as the fire department were present to show their support of the new facility.

Stonecrest is an assisted living facility and memory care community with 60 apartment homes and many elegant amenities including, Studio, one-bedroom or two-bedroom apartments, full-sized refrigerators, individual apartment climate control, maintenance and utilities included, state-of-the-art emergency call system, staffing 24-7, restaurant style dining and ordering, multiple patios and decks as well as beautiful landscaped outdoor living space with outdoor dining and fireplace area with built-in BBQ, raised garden beds and much more.

Stonecrest of Town and Country Senior Living is conveniently located at 1020 Woods Mill Road in Town and Country.  It is located behind (to the south) of Schnucks located near 141 and Clayton Road.

About Stonecrest of Town and Country Senior Living

The staff is trained to provide residents with the highest standards of senior care services amidst a beautiful community.  Stonecrest is operated by Integral Senior Living (ISL), which manages independent living, assisted living and memory care properties.  ISL was founded on a care philosophy that fosters dignity and respect for residents promoting their independence and individually.

Stonecrest/ISL has two others locations in the St. Louis metro area, one in operation at 8825 Eager Road, Richmond Heights, MO 63144 and one under construction in Wildwood, MO.  Additionally, they have multiple locations around the mid-west.

For more information call (636) 234-3153 or visit http://stonecrestoftownandcountry.com.

___

Source:

Linda Iken-Robertson, Executive Director

Company Website

PRWeb Press Release