The Spring Real Estate Market Has Begun

Springtime is synonymous with renewal and fresh beginnings, and the real estate market is no exception. As the season of blossoms and sunshine approaches, potential homebuyers and sellers find themselves gearing up for what is traditionally one of the busiest times in the housing market. Interestingly, the spring real estate market can start as early as February, offering unique opportunities for those eager to dive in before the usual rush.

Historically, February and March witness a notable increase in housing inventory. This rise is often linked to weather conditions, with milder climates encouraging homeowners to list their properties earlier in the year. According to data from Realtor.com, inventory levels tend to expand during this period, giving buyers more options to choose from (Source: Realtor.com Housing Inventory Data). This uptick can be a boon for buyers who are ready to jump into the market ahead of the crowd.

 

While many prospective buyers prefer to wait until temperatures rise, those who are willing to brave the chilly remnants of winter may find themselves at a distinct advantage. By entering the market in February, buyers can potentially avoid the fierce competition that typically characterizes the March-April shopping spree. With fewer bidders vying for the same property, the chances of securing a dream home at a favorable price increase significantly. As noted by Zillow, early birds in the real estate market often find themselves with a wider selection and more negotiation power (Source: Zillow 2023 Market Trends).

Another compelling reason to consider an early start is the current stability in interest rates. After a period of fluctuation, rates have steadied, providing a more predictable financial landscape for buyers. This stability can influence monthly mortgage payments positively, making home ownership more accessible. The Mortgage Bankers Association suggests that locking in a favorable interest rate now could safeguard buyers from potential increases later in the year (Source: Mortgage Bankers Association Rate Forecast).

 

Beyond the financial and strategic benefits, moving into a new home before summer carries its own set of lifestyle perks. Settling in during the spring allows families to explore their new neighborhoods, planting roots and making connections before the busy summer months. Whether it's enjoying local parks, participating in community events, or simply savoring the seasonal beauty, having a head start can enhance the overall enjoyment of a new community. Moreover, summer amenities such as pools, outdoor spaces, and recreational activities can be fully appreciated from the onset, enriching the living experience.

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In conclusion, while the idea of entering the real estate market as early as February might seem unconventional to some, it is a strategy that offers numerous advantages. From increased inventory and reduced competition to stable interest rates and the joy of summer living, the benefits are manifold. For those ready to embark on their home-buying journey, now might just be the perfect time to make that leap.
 

As always, thorough research and consultation with real estate professionals can further illuminate the path to successful homeownership in the spring market. Whether buying, selling, or both, The Boehmer Team is here to assist you in taking advantage of the St. Louis and St. Charles County spring real estate market. Questions? Contact us.

 

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Picking the Perfect Lot

To be perfectly honest, the phrase “perfect” rarely applies to a lot. It really comes down to what features make it perfect or most favorable for the buyer. Choosing the lot or home site where a home will be built is an important part of deciding to build a new home and should be one of a buyer's first considerations. 

 

If you’re building new construction real estate in the St. Louis or St. Charles county area, find a lot you can appreciate for years as well as one that will appreciate in value. When considering features that make one lot better than another, there are a variety of things that may be important.

 

Quick Summary: How to pick the perfect lot.

To choose the perfect lot to build a new home, one needs to consider: location, size, direction, elevation, drainage plan, surrounding areas, utility pedestals, lot premiums, and what builder options there are for the lot among other details. A local Realtor experienced in new construction can help you address these considerations and guide you through the process of building a new home.

Location

The home site one buys is likely where you are going to live. If you have children in school you’ll need to pay attention to area school district boundaries. If you work outside the home you’ll need to factor in your preferred commute time. Check if the lot is close to shopping, parks or restaurants that you frequent. If the lot is in a new neighborhood being built, you’ll want to consider the neighborhood amenities and/or HOA fees. It's a good idea to check with the municipality you are considering to see if there are specific rules or guidelines that apply. 

 

The Direction of the Lot

We understand that the direction a home will face is often important to buyers. Whatever the reason, the direction a home faces is often considered to be one of the most important factors that buyers consider. Be sure your Realtor and homebuilder know if the direction of the lot it of upmost importance to you.

 

 

Hilly Versus Level Lots

Do you prefer a level lot or a home built into a hill with a backside of windows to see the view? Think about what you want and what you might be willing to work with.  After all, a truly level lot does not even exist. Due to grading plans and required drainage swails, completely level lots pose a variety of issues and challenges.  While a lot may be mostly level, there are sure to be areas that have slight elevations. 

Lot Premiums

Homebuilders may charge a lot premium or additional charge based on lot features and location within a community. Lots with more space, that offer a good view, or something that sets them apart from other lots may draw a lot premium.

 

Builder Options for a Particular Lot

The choice of homebuilder options may be different based on the lot you choose. If you have a piece of land in mind that you want to build on, you may have a variety of home builders that will help you build develop on the land. If you purchase a lot within a particular neighborhood, you’ll likely only get to use the homebuilder who is developing that neighborhood. So if the homebuilder is important to you, check to see if they can build on your chosen lot or what lots they have available.

 

See our list of Preferred Builders in the St. Louis area.

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If you want a home crafted for you with the latest building technologies, The Boehmer Team can help. We’ve assisted hundreds of new construction buyers in the St Louis and St. Charles area as well as helped many sell their current homes. From budget to builder, to lot and material selections, to final paperwork and closing, we represent and protect the interest of new construction homebuyers to make the process go smoothly. Thinking of building or buying new construction? Contact us or visit BuyNewAndNow.com to see a list of new homes that are currently for sale.