Unlocking the Potential of Newly Built Homes

In the current real estate landscape, purchasing a home in St. Louis or St. Charles County comes with its share of challenges. Higher mortgage rates may create affordability issues and there is a limited inventory of available homes compared to years past. However, what if there was a game-changing solution that could address both concerns?

Inventory Bright Spot: New Home Construction

Home seekers can opt for either existing homes or newly constructed properties. While the inventory of existing homes for sale has seen some growth this year, there are still fewer options compared to previous years like in 2018 or 2019.

Embracing newly built homes can expand your choices further. According to Danielle Hale, Chief Economist at Realtor.com explains,

“The shortage of existing homes For Sale has opened up the possibility of new-home construction to more buyers who may not have once considered it.”

At The Boehmer Team we know what recent data from the Census shows - new home construction is ramping up in two key areas: starts and completions. (See most recent spike on chart below in pink.)

Starts, or homes where builders just broke ground, have seen a big increase lately. And completions, homes that builders just finished, are also up significantly. So, if you want a new, move-in ready home or you want to get in early and customize your build along the way, you have more options right now.

See Our List of Preferred Builders

Affordability Incentives from Builders

Builders are currently providing incentives such as mortgage rate buy-downs to ease affordability challenges and help buyers achieve their dream home. Mark Fleming, Chief Economist at First American, explains why you may find builders have more wiggle room to offer than the typical homeowner:

“Builders aren't rate locked-in. They would love to sell you the home because they're not living in it. It costs money not to sell the home. And many of the public home builders have said in their earnings calls that they are not going to be pulling back on incentives, especially the mortgage rate buydown, so that will help the new-home market continue to perform well in the spring home-buying season.”

Expert Guidance from New Construction REALTORs

Purchasing a newly built home involves a different process than buying from a homeowner. It is essential to work closely with local REALTORs like The Boehmer Team. We have many years of experience working with home builders as well as special training and certifications to help the new construction home buyer. We offer expert guidance through intricate builder contracts, the build process and more.

In Summary

If you're facing difficulties in finding a suitable home or navigating affordability issues, considering exploring the potential of newly built homes as a viable solution. Connect with The Boehmer Team to explore if this option aligns with your home-buying needs. Or visit New Home Central on our website to search for new construction homes, see preferred builders, learn about the process and more.

 

 

 

Most Desired Features of New Construction Homebuyers

When it comes to building a new home in the St. Louis or St. Charles County area, everyone has their own unique set of preferences and priorities. However, there are certain features that are currently desirable among new construction homebuyers. With our experience assisting local new construction homebuyers and some great input from some quality local homebuilders, we’ve put together a list of the most sought-after features that buyers want in newly built homes.

Energy-Efficient Appliances and Windows

With the increasing awareness of climate change and the need to save money on utility bills, energy efficiency is a top priority for homebuyers. Energy-efficient appliances, windows, and insulation are all highly sought-after features.

Open Floor Plans

Many homebuyers are looking for open floor plans that provide a spacious and welcoming environment. This includes interconnected living spaces, high ceilings, and large windows that allow natural light to flood the home.

Smart Home Technology

The rise of home automation has made smart home technology a highly desirable feature. Homebuyers are looking for homes with automated lighting and heating systems, smart locks, and integrated home security systems.

“One of the most desired features in today’s new home is smart home technology and security,” says Chris Reatini of homebuilder Genesis Development Company. “Just about everything now and even more in the future can be controlled by your phone. Homeowners like having the convenience to control their new home with their fingertips.  We wire the home for the technology of today and the future. A few of the most popular items include smart thermostats, garage doors, lights, locks, cameras, and security systems. With our smart home app, the possibilities are endless.”

Outdoor Living Spaces

As more people look to spend time outdoors, outdoor living spaces have become increasingly popular. This includes patios, decks, and outdoor kitchens that provide a perfect setting for entertaining guests.

Walk-In Closets

Homebuyers are looking for ample storage space, and walk-in closets are a highly desirable feature. Walk-in closets provide space for storing clothes, shoes, and accessories, while also providing a sense of luxury and convenience.

High-End Kitchen Features

With the growing popularity of cooking shows and gourmet cuisine, high-end kitchen features have become a must-have for potential homebuyers. This includes features such as granite or quartz countertops, stainless steel appliances, and custom cabinetry.

Mark Murphy from homebuilder Bridgewater Communities told us, “As the metro areas only home builder dedicated exclusively to the villa lifestyle, most of our customers are downsizing from a larger home. While they are looking for less space, most don’t want to feel as if they have “given up” the spacious feel from their previous home. So, this means high ceilings with wider and taller doorways to create the sense of volume, as well as large kitchens, entertaining spaces, bathrooms, and primary bedrooms. Additionally, outdoor entertaining spaces and flexible spaces inside their new villa are important.”

Home Office

With more people working from home, having a dedicated home office has become an essential feature. Homebuyers are looking for spaces that are quiet and comfortable, providing a productive environment for work.

Multiple Bathrooms

Having multiple bathrooms is a highly desirable feature for homebuyers. This includes en suite bathrooms for the master bedroom, as well as half-baths or full-baths for guests.

After years of working with new construction clients, Linda Boehmer says, “We see our new construction clients looking for taller ceilings, transom windows for natural light, low maintenance LVP flooring and high functioning kitchens. Other hot features include laundry rooms that offer more space for laundry needs and storage, oversized kitchen islands with added storage and large seating bars, home offices, screened porches and electrical preparation for electric car chargers. It benefits consumers to research the options. You are only limited by your budget, your imagination and your builder’s menu of options.”

Energy-Efficient Heating and Cooling Systems

Energy-efficient heating and cooling systems are a top priority for homebuyers. This includes HVAC systems that use less energy and provide better temperature control.

Green Building Materials

Homebuyers are looking for homes that use environmentally friendly building materials. This includes materials such as bamboo flooring, recycled glass countertops, and low-VOC paint.

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By incorporating these features into new construction homes, builders create homes that are more attractive to today’s buyers. If you’re thinking of building a home, or buying a newly built or inventory home, contact The Boehmer Team. We are uniquely qualified to serve new construction homebuyers in the St. Louis and St. Charles County areas of Missouri.

 

 

Home Buying with Increasing Mortgage Rates

It’s true – like the rest of the U.S., St. Louis and St. Charles county real estate is facing increasing mortgage rates. However, mortgage rates have been up and down throughout the decades and regardless of the rates, people still bought and sold homes. Let’s discuss what homeowners really focus on each month, monthly mortgage payments.

 

The chart below shows the difference between a principal and interest payment on a $350,000 loan at 5.50%. When the rate increases to 6.00% it is only $111.00 a month difference. While we understand this is an increase, it may be manageable. For example: a borrower that makes a gross monthly salary of about $10,000 will fall within typical guidelines for getting a mortgage of this size loan at the higher rate. 

 

Trusted mortgage loan specialist and Executive Vice President of Paramount Bank, Jeff Griege offered us a great comparison of rates and sales historically with today’s rates and sales:

 

“In June 2008 the average rate for a 30-year fixed rate loan was 6.45% while home sales for June 2008 were 4.83 Million. In April 2022 home sales were at 5.61 Million. What I mean by this is people are still going to buy homes with a higher rate of interest, especially if the demand for homes decreases as some buyers move out of the market.“

 

According to Freddie Mac data, the highest mortgage interest rates ever reached in modern history were in 1981. At that time the annual average was 16.63% - and people STILL bought and sold homes. But let’s keep our fingers crossed we don’t see that again.

 

If you have questions about the process of buying real estate or getting a mortgage loan, contact The Boehmer Team. We can answer your questions, help you with the process and get you in touch with experienced mortgage loan officers that will help you get the best rate. Don’t be discouraged, where there is a will, there’s a way! Contact us today.

 

 

The fine print: 

 

Lighting Your Home Right

Have you ever gone into a room that just felt good but you couldn’t put your finger on why? It could be the lighting. In a well-lit room, everyone feels relaxed and looks their best. This is why it is important to be considerate of the bulbs and fixtures in your home and how they can create a more inviting environment that encourages people to linger.

LIGHTING MISSTEPS AND CORRECTIONS

• Lighting Misstep: Avoid overly bright overhead lights that can tire the eyes.
• Correction: Install dimmers.
  
  
• Lighting Misstep: Not matching the function of the room.
• Correction: Localize and layer your light sources to focus lighting on the main functions of a room.
  
  
• Lighting Misstep: Using different types and colors of bulbs in the same room.
• Correction: Learn about light bulbs and choose a similar type of bulb throughout a room to avoid different colors and frequencies of light that could make a room feel disjointed.
  
  
• Lighting Misstep: Using lighting at all the same height.
• Correction: Implement lighting at different heights to fill a room with soft light and create better ambiance.

 

LIGHT IT RIGHT – ROOM BY ROOM

Entryway Lighting: The entryway is where your lighting story for your home begins.  Fun and functional lighting like an entry table lamp and overhead light make a great start and set the stage for the rest of the home.

Great Room Lighting: This is a place to put our feet up or have great conversations with friends and family. Add light to your seating areas with table and floor lamps. To draw the eye up to a high or vaulted ceiling, use overhead lights. If the room has standout architectural features highlight them with a spotlight or sconces.

Kitchen Lighting: When lighting a kitchen, it’s about merging style with function. Good overhead lighting and lighting for cutting surfaces is important. One of the most visible forms of kitchen lighting are pendants that hang over islands or peninsulas. You can choose to have them blend in or stand out. A good tip is to match your pendants to the materials on your cabinet hardware.

Dining Room Lighting: In a dining room, the lighting is one of the main focal points. This is the place to splurge on lighting and put up your favorite chandelier, as it will hang at or a little above eye level. Don’t forget to install a dimmer switch in this room to set the mood. Want to tie in the dining room lighting in to your kitchen space? The tip here is to use a material or shape that is cohesive with the kitchen design.

 

Bedroom Lighting: Bedroom lighting starts with overhead light. This could be a pendant, flush, lighted fan or chandelier. Then coordinate your secondary lighting choices like table lamps or sconces by choosing a similar material, color or shape that appears in your overhead lighting.

 

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While touring and selling St. Louis and St. Charles County real estate, The Boehmer Team have seen all kinds of ways that people light their homes. Our favorite tip is to be sure to use the same color and type of lighting within the same room. In other words, don’t make a room disjointed by mixing halogen and LED lights in the same space. Also, don’t forget to utilize natural light to brighten your spaces and save energy. Check out some of our favorite places to shop for home lighting: Houzz.com and Wayfair.com. When you’re ready to sell a home, contact The Boehmer Team to help you stage your home – and its lighting – to make it looks its best so that you get the most value from your home sale.

 

 

Common Pitfalls to Avoid When Selling a Home

 

The Boehmer Team assists home sellers across the St. Charles County and St. Louis metro area to make the most of their home sale. We like to educate our clients on pitfalls to avoid during the home selling process. Here’s a list we’ve put together of common home selling pitfalls we’ve seen an advised our sellers to avoid.

 

Selling It Yourself

There is tons of data showing that the typical “For Sale By Owner” (FSBO) route is not the best path. Think you’re saving yourself from paying a commission to an agent? True, but you’re likely missing the chance to make a lot more money. Unless you’re an expert at home marketing, know how to set the best price for the market, enjoy detailed contracts and paperwork, have lots of time to show your home and field calls, and are an expert negotiator, then you might have a chance of successfully selling your home yourself. Likely, all of these things don’t apply to you. Hire an a qualified agent and make more money. Currently less than 10% of all sellers sell their home FSBO while 90% use an agent.*

 

Hiring Family or Friends

While it might seem fun to work with a friend or family member to sell you’re home, there’s a few reasons why it isn’t the best idea. Your friend or family member may be lazier complacent and underperform with you because there is less pressure to impress and get future business and/or good reviews. Imagine if things go bad, will you be able to fully express your frustrations and concerns? What would it do to your relationship? Unfortunately, we’ve heard plenty of stories involving ruined relationships due to bad real estate transactions.

Not Interviewing or Researching Your Realtor

Even if a Realtor has years of experience, they may not be the best fit for you. Interview several agents to see if you like their communication style, their local expertise, particular specializations and their home marketing plan. Research the agents to learn about their business history and see customer reviews. Then choose the real estate agent or team that is the best fit for your needs.

 

Waiting for the Right Time to Sell

The right time to sell a home could be anytime. A good Realtor will advise you on what needs to be done to sell your home when you want to sell it. This could include making changes to present your home in it’s best light, or selling your home without changes at a price competitive to similar homes in the market.  A qualified and full time Realtor will be versed in the supply and demand that most affects the sales of homes like yours.

Pricing a Home Too High

We understand the thought to “test the market” with a high price. However, the usual result is the home being on the market for longer than necessary. Do you want to sell the home quickly at a good price or keep paying mortgage payments for months while you slowly lower the price to fair market value?

While there are many home value estimators online, ask a trusted Realtor to provide you with a comparative market analysis for the most accurate valuation of your home including any updates made to it for the best-suggested sale price.

Learn more about the dangers of overpricing here.

Refusing to Make Changes

When selling you want to present your home as best as possible. This includes making any necessary repairs, cleaning, decluttering, and neutralizing the décor to make the home most appealing to the maximum number of buyers. Homebuyers often point to repairs as a reason to offer less money on a home. Also, buyers can be turned off by highly specialized home décor that they will have to change. Be prepared to update your home in ways that will most appeal to buyers.

 

Skimping on Repairs or Hiding Issues

Beware leaving repairs unattended. Even small defects can turn buyers off. If they go through your home and find dirt, loose doorknobs, or leaky faucets, they’ll wonder if you’ve been neglecting bigger issues in the home as well.  In addition, most buyers get a home inspection after you accept their offer. If a major problem with your house comes up during the inspection, it could delay your closing date or even terminate the deal altogether.

Not Using Professional Photos

Most homebuyers will most likely see your home online. Therefor, you want to have the best photos of your home available for online viewers. The photos will indicate to buyers whether they want to tour a home in person or move on to the next home listing.

 

Limiting showings

Once you’ve put your home on the market, there will be requests to tour the home. Try to cooperate when your agent wants to show it. This may mean scampering out at dinnertime for a private showing, vacating for several hours or even most of the day for a weekend open house. The goal is to accommodate as many buyers as possible, even if their timing isn’t necessarily convenient for you.

 

Not Leaving for Home Showings

While you may be curious as to who is interested in your home, sticking around for showings does nothing but make everyone feel awkward. Leave any questions to the agent and allow the buyer room to tour the home without you being present. breathing down their neck. You don’t want to stand in the way of the buyer’s ability to see your house as their dream home.

Not Expecting The Costs of Home Selling

Be prepared for the costs associated with selling a home. A good Realtor knows how to best arrange your home sale with these costs in mind.

• Agent commissions.
  
• Closing costs: usually 1–3% of the home price including sales tax, title transfer fee, and title company closing procedures.
• Professional home staging. If needed, the costs vary depending on where you live, the size of your home, how many rooms you want to stage, whether or not you’ll be renting decor, and different pay structures including an initial consultation and monthly fee. On average, home staging costs around $525–2,000.
• Funds for repairs brought up by the home inspection. Depending on the seriousness of the issues that come up, repairing your house could cost hundreds or thousands. While that doesn’t mean you have to pay to fix it, buyers will expect a discount.
• Moving expenses like hiring movers or rental storage fees can add up too. Be sure to research these costs.

 

Taking a Low Offer Personally

An offer on your home is part of a business transaction and not a reflection of your home, décor or housekeeping abilities. Keep in mind that if the buyers are making an offer, it is because they really like your home. A low offer can be a starting point for negotiating a good counteroffer. A truly interested buyer will likely improve their original offer in negotiations.

 

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If you are considering selling your St. Louis or St. Charles County area home, interview The Boehmer Team. We’re an open book of real estate knowledge that we’re ready to share with our clients. Working with a team is a plus, allowing us to offer superior service, expertise in each area of a transaction, and ensures a qualified agent will always be available for your questions or needs. Learn more about us and our award-winning services at www.TheBoehmerTeam.com. 

 

*Data from Realtor.com

 

Find a Home Faster with a Realtor

Homebuyers in the current real estate market, whether in St. Louis, St. Charles County or beyond, are facing more competition as low inventory of available homes for sale persists. Some are getting discouraged at the amount of time and number of tries it can take to find the right home for sale and get a contract accepted. But there is no need to give up on the search for a new home. Working with an experienced Realtor and/or real estate team can make the process easier and faster.  That being said, if you are competing with cash offers and buyers that are willing to waive all of their rights, your agent will help you understand the possible dangers of those decisions.

Learn of Homes For Sale Quicker

Working with a Realtor that provides information on new homes as they hit the market or that are coming soon to market will give you an edge. Realtors, particularly at larger brokerages, know of listings that have yet to hit the market. They also have access to local multiple listing service systems that can often provide updates of homes for sale before they hit the national websites. In a competitive market, this extra time may make the difference in getting your offer submitted and accepted before others find the listing.

A Resource for Community Information

When trying to find a new home in a competitive market, the local area around a home of interest may seem less of a concern than actually procuring the home. This is a good time to have a Realtor in your pocket. Realtors know communities and often have information about the local area like roads, other neighborhoods or commercial properties being built nearby that may be of concern to the home buyer.

Experienced Real Estate Negotiator

When you find the home that’s “the one” it can be easy to allow emotions to get involved in negotiations. Or, you may lack the experience needed to ensure you position your offer to secure the home. As a result, it may take longer to get a deal finalized. Using an experienced Realtor to handle all negotiations will more than likely get things done more efficiently and at a better price than you probably could have negotiated yourself.

Help with Paperwork and Closing

Real estate transactions involve a lot of paperwork and legal forms. If you try to handle this on your own, mistakes could be made that prevent a transaction from being completed or throwing your purchase into chaos at closing. By letting your Realtor take charge of the paperwork and closing, a purchase can be done professionally and accurately. From making sure the title to the property is clear to ensuring the lender has met all deadlines on financing, a Realtor will help create a smoother, faster closing.

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Don’t just trust any Realtor; be sure you have an experienced Buyer’s Agent like those on The Boehmer Team to represent you. If you walk into a home for sale unrepresented and use the Realtor listing the home, their first duty is to their home seller. So contact The Boehmer Team to talk to our dedicated Buyer’s Agents or to get listing updates from our local MLS to see the type of homes you want as they hit the market in real time.

 

5 Outdoor Living Spaces Homebuyers Want And Homeowners Love

With three seasons of outdoor weather, and a waning pandemic keeping us home more, homeowners and those looking for St. Louis real estate desire usable outdoor spaces at home. Expanding your living space into the outdoors makes a home more pleasurable and more valuable to home buyers. We’d like to share what types of outdoor spaces we’re seeing at homes and what homebuyers are currently looking for.

 

Space to Lounge

A designated place to sit and lounge outside of your home is important in today’s housing market. A deck, patio or even paver patio will increase the usability of your home’s outdoor space and can increase the appraised value of the home. There are great new materials available in pavers or you could even use flagstones to create your own patio if you don’t want to pour concrete. Additionally, there are alternative materials to create long-lasting decks with as well.

 

Great use of different materials for an outdoor space.

This stone patio looks posh.

Textured concrete creates a great look.

Space for Dining

There’s something about a table and chairs that makes the outdoors feel homey. Take advantage of the nice weather and enjoy a meal outside. While you can easily find picnic tables or great outdoor dining sets, don’t forget to consider thrift shop finds, or repurposed interior furniture to really bring indoor dining outside. 

 

This spacious deck has plenty of space for dining.

 

Work or dine outdoors for long hours with comfy seating.

 

Bringing indoor furniture into an outdoor space creates a homey feeling.

This vintage sewing machine makes a great outdoor table.

Space for Grilling

Tis the season to grill in the St. Louis area.  Take an evening walk in your neighborhood and you’ll surely smell the smoke of someone grilling. A designated space for a grill that’s at least three feet away from the home provides a safe space to cook outdoors. 

 

As grills get bigger more space for them may be needed.

This built-in grill makes for a more high-end space.

This outdoor fireplace and gathering area can function as a grill or fire pit.

 

Space with Shade

It can get really hot on St. Louis summer afternoons, so if you want to be able to enjoy your outdoor space during these times you’ll definitely value shade. Shade also allows you to see a computer screen if you want to work or be on your tablet or phone outside. Patio umbrellas, awnings, arbors, sails or even large trees can provide shade. Setting up part of your outdoor space in a shaded area will increase your ability to enjoy the outdoors at home.

 

This custom covered porch provides high-end shaded gathering space.

An extended roof overhang provides a shady patio.

Trees and other landscaping can provide a shady lounge area.

A structural arbor ads a bit of shade and great architecture to an outdoor space.

Space for Pets

Are you one of the many people who adopted a pet over the past year? It turns out that the pandemic was great for animal shelters as more people adopted pets than ever. This means more homebuyers than ever are looking for fenced yards for their home. The most popular types of fencing are wood, but with the price of wood going up dramatically it’s worth considering the great vinyl fencing options currently available. You can even have vinyl fencing painted to match your house.

 

Vinyl fencing is a great alternative to wood.

Corrugated metal can be made into stylish fencing.

Wood fencing can be painted to compliment an outdoor space.

Grab some inspiration from the creative fence on the left of this photo.

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These are the types of valuable outdoor spaces homeowners are currently looking for. We hope you’ve found some inspiration for your outdoor space in this article. Or, if you’re looking for a new home with more outdoor space for you and your family, contact The Boehmer Team to help you find the perfect home. We’re here for you and understand the challenges that today’s buyers face as well as how to overcome them.