Unusual Fall 2020 Real Estate Activity

St. Louis and St. Charles County area real estate in fall 2020 has been as unusual as, well most of 2020. Real estate this autumn has been unusually active. In fact some real estate agents are referring to this fall as second spring. Herein we’ll discuss some of the reasons why real estate this fall has been so unusual.

The Pandemic

The Covid-19 virus has kept many people closer to home for longer and more often than previously. Folks are now working from home, going to school at home and moving many in-person events online. This has created more time to look closely at one’s living situation and decide if it is the best fit. Also, some people are moving from more concentrated, populous cities to our area. 

 

Demand Versus Inventory

After a slow spring of quarantines, the busy summer market barely slowed down for fall. With so many buyers wanting to move to better home situations and some sellers unsure about making any changes at all, there has been a higher demand for homes for sale than there have been homeowners listing their homes. This is causing a lower inventory of homes for sale along with rising home values as multiple offers are being made on well-maintained, market-value homes. This doesn’t mean there aren’t homes for sale, it just means that homebuyers may have to look a little longer or at different options to buy a home.  It also means that buyers need to be prepared and ready to move quickly if the perfect home comes on the market.

 

Low Mortgage Rates

At time of writing this, the 30 year conventional mortgage rate sits around 2.5% and the 15 year conventional mortgage rate sits around 2%. These low rates mean that you can get a lot more home for you money than you could a few years ago. And for those who aren’t moving, it’s a great time to refinance.  These rates are historically low and when they are gone it is hard to imagine when they will return.  

 

Increased New Construction Activity is Helping

We help several quality local home builders market their homes and we know the new construction home market very well. We’ve been able to find solutions in the new construction market for many homebuyers. While builders have been doing a great job constructing quality new homes, they are feeling the pressure to keep up with the demand.  New construction should always be considered when searching for a new home.  It affords buyers to be the first owner, select finishes specific to their tastes, select options specific to their needs and to enjoy the benefits of an environmentally friendly and energy efficient home.

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Despite the unusual fall 2020 real estate market we continue to assist homebuyers and sellers to face, understand and prepare for these unusual times every single day.  Despite the challenges, business for The Boehmer Team is up 28% from 2019 and going strong.  If you are thinking of buying a home, building a home, or selling your current home, contact The Boehmer Team. Let us implement decades of combined experience to answer your questions, find solutions for your needs and provide full service as we do to all of our dedicated clients.

 

Essential Fall Home Maintenance For Midwest Homeowners

Fall in the St. Louis and St. Charles County area of Missouri is a fantastic, pumpkin spice filled season. Watching the leaves change color and fall, roasting marshmallows around a fire pit, and enjoying seasonal beverages and flavors come to mind. We are truly lucky to live and work in the Midwest during the harvest season.

Before autumn turns to winter, be sure to turn your attention to your home. Fall is the time for some essential home maintenance tasks to be performed before the deep chill of winter sets in on your home. Neglecting these tasks could add further wear and tear to your home and may lead to damages that would cost much more to fix later. Performing fall home maintenance will keep your home functioning and help uphold the ever-important value of your home. 

 

10 Essential Fall Home Maintenance Tasks:

• Clear Gutters, Downspouts, Window Wells and Drains of Leaves and Debris
• Check Windows and Doors for Gaps or Air Leaks and Seal Them
• Check Your Heating System and Change the Filter
• Check Chimney, Wood Stove and/or Fireplace Function and Cleanliness
• Check Plumbing/Outdoor Spigots and Turn Off Outdoor Valves if Needed
• Check for Foundation, Porch or Driveway Cracks and Seal as Needed
• Inspect the Roof for Loose or Missing Shingles
• Check for Cracks or Holes in Siding and Paint and Replace Caulk if Necessary
• Trim Any Limbs that could Fall on Your Home or Power Lines During Icy Weather
• Winterize Your Sprinkler System

Fall Maintenance Worth Doing if You Don’t Want to Buy New Stuff Next Year:

• Drain and Store Garden Hoses
• Put Away Porch Furniture
• Clean and Store the Lawn Mower & Lawn Trimming Equipment
  
• Winterize Your Gas Grill

Other Fall Home Maintenance Tasks to Consider:

• Fertilize the Lawn
• Drain the Hot Water Heater and Remove Sediment from Bottom of Tank
• Check the Seal at the Bottom of the Garage Door for Damage or Leaks
• Check Your Detectors and/or Change Batteries

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If you can’t perform these important fall maintenance jobs yourself, hire someone to help. Contact The Boehmer Team if you need some suggestions for contractors or repairpersons in the St. Louis or St. Charles County areas of Missouri. And if your home needs more maintenance and help than you want to do, contact us about right-sizing your home or finding a home in an HOA community that provides a variety of maintenance tasks on your property.

 

If you would like to find out the current value of your St. Louis or St. Charles County area home or are considering buying or selling in the area, contact us or visit TheBoehmerTeam.com for more information.

How to Make the Best Offer on a Home

Like most of the country St. Louis and St. Charles County are currently experiencing a sellers market.  This means that there are more buyers in the market than there are sellers. This is great if you are currently selling a home. However if you are a homebuyer, this means that you are facing competition against other buyers when trying to purchase a home for sale.  With a few tips, and help from your trusted Realtor, you’ll be prepared to make the best offer on a house and procure the home of your dreams.

 

Get Pre-Approved for a Mortgage

Unless you are paying cash for a home, start your home search by talking to a mortgage lender and getting pre-approved for a mortgage loan. Home sellers will take cash and pre-approved offers over offers that don’t confirm their ability to finance the home. Also, getting pre-approved will help you better determine your budget for your home.

Lean On Your Realtor

Talk to your Realtor to gain some useful information. An experienced Realtor (like the ones on The Boehmer Team) will be able to gather more information about what neighboring homes have sold for and the number of other offers the home has received.  This information will help you decide on a strong offer to make on the home.

Hold Back on Contingencies

Contingencies are items that need to be addressed before closing on a home or clauses in the contract that give you an out if something arises. These can be beneficial to homebuyers, but a headache for home sellers. Sellers will prefer to accept a contract on their home that includes the least amount of contingencies. Discuss with your real estate professional the options of making an “As-Is” type of offer limiting the seller’s responsibility of making repairs.

Make a Personal Connection

If a seller has a personal connection with a buyer, they are more likely to choose the buyer they have a connection with. If you know other people in the neighborhood, or have other acquaintances in common with the homeowner, tell them in order to build your personal connection. Some people make their case in writing by including a hand-written letter with their offer describing why they would make the best choice as the homebuyers for the property.

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Whatever you decide, be sure to be prepared and be ready to act fast. If you are afraid of making a mistake after going all in on a home, keep in mind that there will likely be another chance to make some negotiations on the deal after getting the results of the home inspection. If you have questions about making an offer on a home or about the home buying or selling process, contact The Boehmer Team. We’ll be happy to share our expertise. 

 

New Home Opportunities in a Competitive Market

If you’ve been home shopping recently for St. Louis or St. Charles County real estate, you’ve probably noticed something – things are rather competitive. Currently there aren’t as many homes available for sale as there are homebuyers trying to buy homes (known as a sellers market). Homebuyers are having more difficulty procuring a home they want against all the competition. Those who consider buying new give themselves another option. How about you? Have you considered buying new?

 

Builder Inventory Homes

Homebuyers can buy a new home often for a similar price as a pre-existing one. Check out homebuilders’ inventory of already-built or being-built homes that have yet to be sold.  Every month that a completed home doesn’t sell incurs costs for the homebuilder, so builders may be more motivated to sell homes in their inventory.

Often times inventory homes are priced including promotions and incentives that you would receive had you built the home from the ground up.  Builders also choose top-selling floor plans with the most popular features and finishes for their inventory homes so they appeal to today’s buyers.  Many buyers love the idea that they see exactly what they are getting when buying a home from inventory. Buying an inventory home is often a very smart move for today’s buyer for a number of reasons. 

We’ve put together a webpage specifically so you can see what builder inventory homes are currently available for sale in our area. Check out our New & Now page to see the many great new home opportunities available.

 

Historically Low Interest Rates

Interest rates are still historically low. This means you can get more house for your budget. If you need help finding a reputable mortgage lender, contact us to offer some suggestions of home lenders to check out. Also, don’t miss trying our mortgage calculator to find out what your monthly payments might be based on the price of a home, the interest rate and length of the loan. 

Using an Experienced Buyers Agent

Experienced buyers specialists, like the ones on The Boehmer Team, can help you with the home buying process at little to no cost. Our job is to help you find home buying opportunities that match your needs and help you through the process of purchasing a home, which is especially helpful in a competitive market. 

 

Our network provides us access to homes being prepared for the market that aren’t even listed yet. We also know of off-market listings to show our homebuyers. Using a Boehmer Team Buyer Specialist gives you an edge over trying to procure a home on your own.

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If you are a homebuyer currently looking for a new or pre-existing home to buy, contact The Boehmer Team. We can help you procure your dream home and even help sell your current home. Reach out any time for a no obligation home buying or selling consultation and learn our strategies to help buyers and sellers. 

 

St. Charles County Real Estate 2020 Mid-Year Review

We’re half way into 2020 and boy, has it been a roller coaster ride! A pandemic, a recession, an election year and more have made it a VERY memorable and life changing year. But despite our ever-changing external environment, one thing has stayed constant – the need for a home. The pandemic has caused us to spend more time at home than ever and made housing that meets our needs more important than ever. So despite everything, the housing market has remained strong and a good investment in 2020.

Signs of a strong real estate market are backed up with hard data. Take a look at the below charts showing how the 2020 St. Charles County, Missouri real estate market is performing so far. We hope this information will be valuable for you to make the best real estate decisions for you and your family.

Number of Homes for Sale

This first chart showing active real estate listings by month over the past three years ends on a down trajectory. This means that there are not as many homes available for sale as there have been mid-year in the past three years. The low availability of listings and continued demand from homebuyers point to a continued sellers market.

Median Sales Price

This chart shows that home prices are still growing. If you’ve been thinking about listing a residential property for sale, now is a great time to get a lot of value from the sale. If you’re thinking of buying a home, now is also a great time to take advantage of still low historic rates and purchase a home before housing prices increase even more.

Original Listing Price Versus Sales Price

While sellers like to get the most money they can for their property, buyers want to pay the least they can for a home. Through the negotiation process the final price received for a home is often a little less than the original price the property was listed. The first half of 2020 shows that buyers are negotiating better deals for themselves than the previous three years as the gap of list price to sale price has widened a little.

Days On Market

This chart shows that the number of days a home is on the market tend to be shorter in the warm months than in the cold months. Currently we are seeing shorter days on the market that are similar to the same time last year. A smaller number of days on market is another indicator of a sellers market.

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In summary, this data points to continued gains in home prices and continued competition among homebuyers for the real estate listings that are available. Our friends in the home building industry say they are ramping up home building to help offer more new home options for buyers. If you have a home to sell, now is a great time. If you are buying a home, be prepared to act quickly when you find “the one” as you may face a lot of competition.

Working with a great buyers agent, like the buyers agents on The Boehmer Team, will also increase homebuyers’ chances of procuring the perfect home. Contact The Boehmer Team for expert home selling and buying assistance. We know the St. Charles County, Missouri real estate market and even have information on homes that are not yet listed for sale.

The Increasing Importance of The Home Office

For St. Louis, St. Charles County and pretty much everywhere, the home office has become a much more important part of home. Not only did the recent COVID-19 quarantines keep many working at home, home based businesses, Internet jobs and other work–from-home jobs are more popular than ever. In real estate that means if you are selling a home, a home office is a great selling point that adds value to the home.

What people want in a home office:

Privacy

People are looking for an area that offers privacy, especially since there are often two people working from the home, children, or guests present in the home. Phone or computer meetings may require you to talk louder than normal, so having a door to shut or an office in the lower level offers maximum privacy.  Since more people are working from home on a regular basis, it may be that the work being done may be more confidential in nature so out-of-sight storage is critical.

Function

Function has become more important than the past when a home office was often about looks. Function includes a workstation or desk and chair but also includes the ability to access the home Wi-Fi connection. You’ll get bonus points for having a nice place to setup a camera to point at oneself for video conferencing. 

Outlets

Computers, phones and printers need to be plugged in, so having sufficient electrical outlets is a necessity. If adding a home office to a room without adequate outlets, be prepared to use an extension cord and surge protector (taped down and/or hidden by a floor runner rug). 

Light

While some home workers prefer natural light, others prefer limited light. Both can be achieved if the home office has or is near a window. Add blinds, shades or curtains to control natural light levels and a lamp for those who prefer limited or added light to accommodate your home office needs when both on and off the computer.

Storage

Hidden storage opportunities add value to a home office. Did you know a tidy workspace is supposed to help keep a clearer mind? Whether that’s true or not, it’s important to have places to put away important papers and other office items.

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If you are currently preparing a home to sell, it’s a good idea to have a home office or workspace setup to fulfill the needs of the many at-home workers. Be sure it includes the items above to make it as desirable as possible. If you are currently looking to buy a home with more office space, contact The Boehmer Team. Our experienced Buyer Specialists may already know of a property that might fulfill your needs or can help you find the perfect home for you.

15 Simple Ways to Boost Your Home’s Curb Appeal

St. Louis and St. Charles County homeowners are spending more time in and around the home than ever before due to the coronavirus. Not wanting to be stuck inside, many are taking advantage of their time at home by going outside to make improvements to the exterior of their home. These exterior improvements can really boost a home’s curb appeal. So if you are thinking of spending some time improving your home’s exterior and landscaping, here are some simple ways to do it.

Maintain Your Lawn

You don’t have to spend a lot of money for a good looking lawn. Make sure it is kept trimmed, attend to any bald spots and keep it watered. For more advanced tips on lawn maintenance, click here. 

Trim Your Shrubs

It’s spring and plants are growing fast, so it is a great time to trim shrubs and pull any weeds around them.

Freshen Your Mulch

Mulch is a natural material that breaks down with time. Freshen it up by adding more mulch around the base of your landscaping to keep weeds at bay and give the landscaping a well-kept look.

Use Colorful Planters

Colorful planters can be found at local hardware stores on online. You could even paint some old planters to transform them and add color to the exterior of your home.

Add Pops of Color 

In additions to colorful planters, colorful accents can be implemented throughout the exterior areas of your home with flowers, a freshly painted front door, or pillows on benches.

Power Wash Your Home, Deck, Patio, and Concrete

It’s amazing the difference power washing can make to blast old dirt and debris from multiple areas of your home’s exterior. If you don’t own one, you can buy one, borrow one, or even hire a contractor to power wash for you.

Replace Old Porch and Coach Lights

Check your home’s exterior lighting. Does it need to be cleaned, fixed or replaced? There are great options for buying lighting at local hardware stores or online.

Add Porch Seating if Possible

Wanting to spend more time outside your home creates the need for outdoor seating. There are many ways to get creative with outdoor seating. Choose something that compliments your home that will withstand the elements.

Make the Entry Welcoming

What is the vibe of the area in front of your front door? Is it welcoming? A thorough cleaning of the area and a few accents like a wreath or welcome sign can make a big difference.

Update Shutters

We rarely seem to think about shutters, but their appearance affects the overall look of your home. Check the condition of your shutters and make any repairs. If the paint is worn, give them a fresh coat. Or, you can even buy and install new shutters.

Freshly Paint or Replace the Front Door

The front door is a focal point for your home. Check it for dents, scratches or anything that can be repaired. Give it a fresh coat of paint or consider replacing.

Freshen up the Mailbox 

The mailbox is often exposed to the elements and thus can age quickly. Check it for any needed maintenance, give it a fresh coat of paint or new numbers or consider a new mailbox.

Wash Your Windows

You’ll be surprised the difference that washing windows can make. Years of dirt and grime build up slowly that it is hardly noticeable. Washing your windows will make the house sparkle outside and a little brighter inside.

Add Style to You Address Numbers

Unique address numbers are a fun way to add style to your home’s exterior. You can find them at local hardware stores or shop for great options online.

Get a Great Doormat

The last step someone takes before they enter your home is on the doormat. Why not make it a good one? There are lots of fun options to be found at local stores and online. Pick one that is both good looking and functional.

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Improving your home’s curb appeal actually adds value to your home. If you are thinking of listing the home for sale in the near future, you are doing yourself a great service by upgrading it’s curb appeal. Or if your time in quarantine has shown you all the reasons you would like to be in a different home, contact The Boehmer Team to help you sell your current one and find a new one.