LOW INTEREST RATES ARE ALMOST OVER
As
you probably know, last week the Fed raised the interest rate. But did
you know that historically when they raise the interest rate, they do
it a little at a time? The last bout of rate-raising, which began in
June 1999, took 11 months, and six steps. Will it take that long this
time? We can’t be sure how long it will take or how much it will
increase. But most economists believe this is just the first of many
interest rate hikes in the near future. If you’ve been waiting to
buy, don’t wait any more – now’s the time. Call Mark Magas at
314-772-HOME (772-4663) to get your home search underway.
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ABC NEWS RANKS ST. LOUIS IN TOP FIVE EDUCATION REGIONS
In
another strong ranking for St. Louis, Forbes.com reporter
Betsy Schiffman, writing in a special report for ABCNEWS.com
title, “location, Location, Education-The Best Places with
the Best Education.” Ranks the St. Louis region number 4
in the nation for education.
Schiffman
notes, “The quality of local schools is just as important
to home values as location. If there’s a mix of strong
local public and private schools that are sending lots of
graduates to Ivy League colleges, parents will spend top
dollar to live there.” For the full article, click
here.
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BUYING AFTER BANKRUPTCY
If
you’ve declared bankruptcy and it’s been discharged, we
might be able to help you buy a home at the same interest
rate as someone with good credit! No points, no cosigner, no
balloon payment, just 3% down and normal closing costs.
The
rules are pretty strict - you must have no new bad credit
since the bankruptcy and you must meet normal income
stability and debt-to-income ratio guidelines. If you’ve
had a foreclosure you must wait three years. But there is no
need for ‘credit cleaning.’
If
you’d like more information, please call Mark Magas at
314-772-HOME (772-4663).
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SUMMER MAINTENANCE
Don’t
forget to give your home a vacation too. Some things
you’ll want to be sure to do to ease the burden on your
home are as follows:
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Last
year we bought our building at just over $20 per square foot
while in nearby Benton Park, the lowest price at the time
was about $60 per square foot (for comparable properties in
similar condition.) In the last year we’ve been working on
our property to renovate it and upgrade it – and there’s
still more to do. But looking around at recent sales in the
neighborhood reaffirms our decision – just a few doors
down a rehab sold at $58/sq ft and there’s new
construction going up across the street for $114/sq ft.
Neighborhoods
don’t appreciate on their own, though. We worked with
local government and police to keep crime out and encourage
pride of ownership. Our alderman, Ken Ortman has been
proactive and responsive.
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HISTORIC DUTCH COLONIAL FARMHOUSE
FOR SALE
This
architecture is very rare in St. Louis. This homes was built
in the 1860's by one of the early German immigrants. The
gambrel roofs and split Dutch door are clues to this home's
heritage. Over the years the home was expanded to 2100
square feet and features a modern kitchen, thermal windows
and all the amenities that we expect in today's world.
Whether you're looking for a great family home or a
professional space with character, give Mark a
call at 314-772-HOME.
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HISTORIC PROFESSIONAL BUILDING
Dutch
Colonial farmhouse could be perfect for professional
building. 2100 square feet, thermal windows, new 6"
sewer line, ample space for parking, 111 feet of frontage,
close to Highway 270, .42 acre lot. Neighbors are insurance
company, car dealership, church and bowling alley. Call Mark
for more information - 314-772-4663.
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COMMERCIAL LEASING
We
Sell St. Louis is now brokering commercial leases in
addition to our residential and investment real estate work. This week
we have some very inexpensive warehouse space and next week
we will have 40,000 square feet of downtown office space,
also reasonably priced.
When
we started listing multifamilies on our website we changed
the way St. Louis did business. For the first time
information was not limited to insiders. Eventually we will
do the same for commercial properties with one stop
shopping.
If
you have commercial space that would benefit from more
exposure, give us a call. With our top ranked website and
liberal terms you can’t lose. Click
here to see our commercial listings.
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INVESTMENT
OPPORTUNITY
Local
food manufacturer needs expansion capital. ROI to exceed 25%. For
further information, call Mark Magas at 314-772-4663.
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