December 31, 2004
Tired of Commuting? You’re Not Alone…
Over the summer, Kimberly and I combined homes. Although we looked at everything from St Louis City to Lake St Louis (Editor’s note: for out-of-towners reading this, those two places aren’t close), the ultimate decision on where we bought a house had to do with keeping a close proximity to the real estate office where Kimberly works. In the end, the new construction and swimming pools gave way to a 30 year old home with a 10 minute commute.
Commuting (and more to the point, NOT commuting) can be a big deal for a lot of people when buying a new home. I was reminded of this by an article I read on the South Texas Real Estate Blog. For the full story, go to: http://www.southtexasrealestate.satxweather.com/ and read the article, “Homebuyers Want a Shorter Commute, Sidewalks” written by David S. Jones.
The article discusses a National Association of Realtors’ Survey which shows that a commute time of 45 minutes or less is a top priority for 79% of today’s home buyers. And the trend is increasing; 87% of people looking to buy a home in the future listed a shorter commute a top priority while the large lot in the suburbs dropped to 57%.
So, what does this mean for the St. Louis area? Will 50 years of exploding suburban growth wither away while people clamor for downtown living again? It’s easy to deduce that from the statistics. Unfortunately, understanding how a trend will play out is really not that simple.
Yes, St Louis City is seeing revitalization in new home construction which wasn’t happening 10-20 years ago. Builders are buying up the small two bedroom homes in areas like Dogtown so they can tear them down and build 2000-3000 sq foot homes and condos in their place. Also, the long talked about loft district on Washington Street in downtown is actually taking off (if you haven’t been down Washington Street in 3-4 years, you probably won’t recognize it). Again, all of this was unheard of 20 years ago and is being driven by the desire of downtown workers to reduce commuting.
However, trends also tend to work in reverse. Sometimes to end long commute times it’s easier to change jobs than houses- i.e. bring the job closer to you instead of you to it. St Charles County appears to understand this as well as anyone and has kept their population growth alive by wooing employers like MasterCard to follow the employees to the suburbs.
MasterCard's move is an outgrowth of the trend to shorten commute times, as is another major St. Louis news story from the past year- the Page Ave Extension Bridge over the Missouri River. The Page Bridge eased highway congestion, and significantly reduced commute times, for people living in St Charles County- which is expected to keep the suburban growth alive in St Charles until 2010 or beyond. In fact, homes in St Charles near the bridge saw an immediate increase in property value once the bridge opened because they suddenly have a shorter commute time. The rolling St Charles hillsides overlooking the bridge, which previously hadn’t been built on because of long commute times to Highway 40 and I-70, are now dotted with the construction of new homes.
Another thing to remember when looking at the statistics is every city deals with commuting in different ways. East coast cities have long accepted the mass transportation solutions that Midwesterners avoid at every turn. In David Jones’ article, he mentioned that the “Texas way” of reducing commute times was to add more lanes to the highways. And when we talk about jobs following the workers to the suburbs, recently I was speaking to a friend who visited downtown Detroit and he reported that empty abandoned inner city lots near downtown have actually been turned back into farmland because no one wants to build on them.
If there is a point to take away from this article, it’s that you now have options to commuting. Builders recognize your desire to live close to work and are building homes in areas of St. Louis where homes haven’t been built in 50 years. Employers recognize it as well and are providing options closer to where people live. If you would like to know more about either trend, give us a call!
Posted by at 12:54 PM
December 30, 2004
New Years Resolution for the Home
Can you believe we're only a day away from 2005? With the holidays coming to an end soon, it's time to start thinking about those dreaded New Year Resolutions. If you're looking to avoid diets and exercise but are resolved to improving your life somehow, January is a great time to work on and organize your home-- and organization is a good thing, right?
With January's cold winter days, it's normal to stay inside more than other months. But instead of watching more TV, take this opportunity to clean out your home, and fix things up!
IDEAS:
- Clean out the basement, garage, and your closets and donate those unused items. Not only will this improve your life, but it helps others and may give you a tax deduction in the process.
- Change batteries in smoke detectors, radon detectors, and make sure fire extinguishers are properly charged. At the minimum you should have fire extinguishers in both the kitchen and garage.
- Clean and replace filters in heating and air conditioning units. If you have a chimney on a wood burning fire place or stove, get it cleaned out too.
- Start a small indoor home improvement project. This doesn’t mean take a sledge hammer to a wall or completely remodel the kitchen. Something small like fixing a leaky faucet or applying a fresh coat of paint to a room can improve your home without draining a budget.
- Make sure insulation and caulking is secure. Not only does it improve your home but it can reduce your heat bill in the process.
- Work in the yard if possible. There may be things you can do now that gets the lawn and landscape ready for spring.
- Schedule your spring cleaning now to avoid the rush. January is also a great time to schedule tree trimmers, interior painters, and other handyman services. Some service companies will even offer discounts in January because business is slow.
With these ideas, you can hopefully plan a productive New Years Resolution that improves you and your home without the suffering that goes along with exercise or dieting!
Posted by at 02:04 AM
December 29, 2004
St Louis Area Real Estate and the Month of December
The other day I was asked by a prospective home buyer if the recent decline in new St Louis area home listings was a trend or a sign of things to come that he should be worried about. Since it’s a good question, I thought I would address that here...
There isn’t anything to worry about- it’s just December!
December is generally a time of decreased real estate activity in the St Louis market for both buyers and sellers. There are several things that cause this. The most obvious is all of the holiday activity- shopping, traveling, parties, etc- which forces many casual home buyers to drop out of the market until January or February. The same holds true for home sellers. A lot of people will wait to list their home after the holidays so they don’t have to keep their home in “show condition” or leave their home for showings while children are out of school or visitors are in from out of town.
Another factor is the changing of the seasons- it’s suddenly colder and it’s getting dark earlier. Many casual home buyers will curb their hunting as darkness and cold weather makes it difficult to house hunt in the evenings, and the number of sellers generally declines as the casual seller holds out for warmer moving weather.
December also marks the end of the year, which for a lot of companies brings about end of the year work activities (taking inventory, preparing for taxes, etc). This often makes it difficult for some people to take time off of work to shop for or sell a home. And as crazy as it may sound, football is another major distraction to the local real estate community. With everything else making it difficult to conduct business during the week, the weekends are suddenly full of “must see” college and NFL football games. Ask any veteran St Louis real estate agent, and they will tell you there is a notable decline in open house activity on Sundays when the St Louis Rams are playing.
Sound like doom and gloom? Well it’s not!
With all of that said, as a home seller you should know that the people looking to buy a home during the holidays are generally serious buyers (so don’t take them lightly). Think about it. Why else would they still be looking when there are all of these distractions? December is often a month when companies relocate employees, and December 31 is often a deadline for buyers looking to buy for tax reasons or to receive better rates on their mortgage loan. Buyers in December also tend make a more "emotional" purchase due to the season and because there are less homes on the market to pick from.
However, this doesn’t indicate a move to a “seller’s market.” If you’re a potential buyer, you should know that people selling their home during the holidays also tend to be motivated. Sellers will generally have less traffic and fewer buyers coming through their door, so they may not be as picky when it comes to accepting a contract. You also may find sellers who are dealing with relocation as well, or homes that have been on the market for several months.
To sum it all up, December is a month when people tend to serious and motivated. If you want to buy a home, there may be less to look at, but there’s also less competition than you will have come spring. If you’re a seller, there are fewer buyers, but the ones that are out there are seriously looking to buy. There is no wrong or right time to buy or sell real estate. The right time is when it works for you!
Posted by at 01:34 AM
December 28, 2004
Home Holiday Fire Safety
The holiday season is a time of fun, family and cheer. Unfortunately, it's also a time when we see an increase in home fires.
According to the National Fire Protection Association (NFPA), Christmas trees were the item first ignited in an average of 310 home structure fires per year from 1999-2002. The NFPA estimates that "In 2002, there were 241 Christmas tree fires in U.S. homes, resulting in 23 deaths, 12 injuries and $11.4 million in direct property damage." And the danger doesn’t stop with Christmas trees. Because candles are often a part of holiday rituals, December is also a time when we see a 15% increase in candle fires.
With Christmas a few days behind us, remember to continue watering those "real" Christmas trees and to remove them from your home if they become too dry. Also, do not leave lit candles unattended. Extinguish candles when going to bed or leaving the house. If candles need to be lit all night, make sure to keep them away from curtains, table cloths, and other flammable materials. It’s also a good time to check your smoke detectors to make sure they are in working order.
For more information on holiday fire safety, please visit the National Fire Protection Association (NFPA) at http://www.nfpa.org/ .
Posted by at 05:37 PM
Welcome to the StlAgent Web Log!
This is the beginning of our St Louis Real Estate Web Log (BLOG).
In this area we will discuss tips, issues, and hot news stories relating to the St. Louis area real estate market. Stay tuned as this web log develops!
St Louis Real Estate Web Log includes the areas of St. Louis, Missouri as well as Clayton, University City, Ladue, Brentwood, Des Peres, Creve Coeur, Town and Country, Ballwin, Chesterfield, Ellisville, Kirkwood, Webster Groves, Sunset Hills, Fenton, Eureka, West County and St. Charles County.
Posted by at 05:34 PM
