Foxboro FEMA Buyout
Friday, September 1st, 2023
On Monday, the Federal Emergency Management Agency announced plans to buy 11 residential properties across St. Louis County in an effort to protect local residents living in flood-prone areas.
Lisa Strait-Hughes Joins Gladys Manion Real Estate
Monday, January 16th, 2023
Lisa Strait-Hughes is a St. Louis native who has also lived in Virginia, Washington D.C., Maryland, Texas, Denver, Rhode Island, and Massachusetts. However, she was happy to return to St. Louis when it was time to raise her children. Her years of relocation have built a strong understanding of the experience and a love of real estate.
Karleen O. Hoerr Joins Gladys Manion Real Estate
Monday, January 16th, 2023
Karleen O. Hoerr has been matching clients and their real estate needs for almost 50 years. She began selling homes in the Skinker-DeBaliviere neighborhood (where she still lives) and has expanded her scope to the central corridor of St. Louis. Karleen served as chair of the Skinker-DeBaliviere Community Council and was the president of the Skinker-DeBaliviere Housing Corporation โ she still sits on their Residential Housing and Zoning Committee โ and was on the founding board of Forest Park Forever and on the board of the Central West End Association. She currently supports the Girl Scouts, New City School, and UMSL.
October Market Update
Monday, November 7th, 2022
๐๐๐ญ๐จ๐๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ |Year over Year Change
Central Corridor
๐๐ฏ๐๐ซ๐๐ ๐ ๐๐๐ฅ๐ ๐๐ซ๐ข๐๐ $608,269 |+5.3%
๐๐ฏ๐๐ซ๐๐ ๐ ๐๐ซ๐ข๐๐ ๐ฉ๐๐ซ/๐๐ช๐๐ญ. $252 | +4.1%
๐๐จ๐ฆ๐๐ฌ ๐๐จ๐ฅ๐ 157 | -14.2%
๐๐ฏ๐๐ซ๐๐ ๐ % ๐จ๐ ๐๐ข๐ฌ๐ญ ๐๐ซ๐ข๐๐ ๐๐๐ข๐ 99.5% | +0.2%
๐๐ฏ๐๐ซ๐๐ ๐ ๐๐๐ฒ๐ฌ ๐จ๐ง ๐๐๐ซ๐ค๐๐ญ 31 | -20.5%
๐๐จ๐ง๐ญ๐ก๐ฌ ๐๐ฎ๐ฉ๐ฉ๐ฅ๐ฒ ๐จ๐ ๐๐ง๐ฏ๐๐ง๐ญ๐จ๐ซ๐ฒ 1.8 | -18.2%
๐๐๐ญ๐ข๐ฏ๐ ๐๐ข๐ฌ๐ญ๐ข๐ง๐ ๐ฌ 330 | -27.6%
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Instant Reaction: Mortgage Rates
'The Federal Reserve approved another jumbo rate hike, but mortgage rates still dropped below 7% last week. According to Freddie Mac, the 30-year fixed mortgage rate fell to 6.95% from 7.08% the previous week. Investors usually react based on their expectations and don't wait until the day the Fed makes its move. It is also promising that this was likely the last rate hike of this magnitude, as indicated by the Fed.
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A return to the sky-high interest rates of the 1980s isn't likely in today's economy, but let's compare the monthly mortgage payment now with the payment of 40 years ago in today's money. In real terms, after adjusting the median home price for inflation, the monthly mortgage payment was about $450 higher in 1982 than it is now. If mortgage rates were currently 9%, the monthly mortgage payment would be comparable to 1982 rates. Thus, in real values, current buyers pay less for their home purchase than buyers who purchased their home 40 years ago, although home prices are significantly higher now."
- Nadia Evangelou, Senior Economist NAR
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#Since1936 #GladysManion #STLRealtor #LuxuryRealEstate #STLRealEstate #StLouis #STLRealtor #SellingSTL #StLouisLuxury #StLouisRealtor #Clayton #LuxuryEstate #Ladue #TownandCountry #Brentwood #Kirkwood #RichmondHeights #Chesterfield #Frontenac #CWE #WebsterGroves #STLHomes #SaintLouisRealEstate #SaintLouisRealtor #MoveToStLouis #STLCity
Gladys Manion, Inc. is pleased to welcome a new agent to its real estate team: Cameron Marino
Wednesday, October 5th, 2022
Cameron Marino joined Gladys Manion Real Estate as a Residential Real Estate Specialist in August 2022. Cameron, the youngest of three and born into an entrepreneurial St. Louis family, has worked for the family catering/hospitality business since childhood. Customer service and people skills are in his blood. He attended CBC High School and studied business at the University of Missouri-St. Louis. Working in the hospitality industry for many years, Cameron learned a lot about working with others and how to meet their needs. He is looking forward to applying that knowledge to his real estate business.
Friday 9/23/22 Listing Updates
Friday, September 23rd, 2022
The Latest From Gladys Manion
NEW LISTING
61 Portland Drive
Frontenac
4 Beds | 3 Full, 2 Half Baths | $1,875,000
Open Sunday 9/25/2022, 11 am - 1 pm
Listed By
Alyssa Suntrup 314-359-3568
7915 Delmar Boulevard
University City
3 Beds | 1 Full, 1 Half Baths | $405,000
Open Sunday 9/25/2022, 12:30 - 2 pm
Listed By
Carol Butler 314-630-3165
Juli-Ann Felsher 314-303-3232
8136 Cornell Court
University City
3 Beds | 2 Full Baths | $375,000
August Market Update
Tuesday, September 13th, 2022
๐๐ฎ๐ ๐ฎ๐ฌ๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ | Year over Year Change
Central Corridor
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Average Sale Price $575,823 | +2.8%%
Average Price per/Sqft. $253 | +3.3%
Homes Sold 209 | -19%
Average % of List Price Paid 100.1% | -0.6%
Average Days on Market 25 | -16.7%
Months Supply of Inventory 1.8 | -21.7%
Active Listings 41 | -28.8%
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"Mortgage rates continue to escalate, moving closer to 6%. According to Freddie Mac, the 30-year fixed mortgage rate rose to 5.89%, surpassing their recent high in mid-June. As a result, the monthly mortgage payment is about 60% higher compared to last year. While borrowing costs have increased faster than peopleโs wages, buyers currently need to spend 10% more of their budget for their mortgage payment if they want to buy the median-priced home....Nevertheless, home prices continue to rise as inventory remains tight." - NAR
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Gladys Manion Real Estate
#Since1936 #GladysManion #STLRealtor #LuxuryRealEstate #STLRealEstate #StLouis #STLRealtor #SellingSTL #StLouisLuxury #StLouisRealtor #Clayton #LuxuryEstate #Ladue #TownandCountry #Brentwood #Kirkwood #RichmondHeights #Chesterfield #Frontenac #CWE #WebsterGroves #STLHomes #SaintLouisRealEstate #SaintLouisRealtor #MoveToStLouis #STLCity
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July Market Report | Year over Year Change
Central Corridor
Median Sale Price $400,000 | -2.7%
Median Price per/Sqft. $237 | +5.8%
Homes Sold 193 | -36%
Average % of List Price Paid 101.7% | +0.9%
Median Days on Market 26 | -13.3%
Months Supply of Inventory 1.7 | -22.7%
Active Listings 331 | -29.6%
Mortgage Rates Dip Below 5% Giving Buyers More Confidence
What Lies Ahead
Wednesday, August 3rd, 2022
With home prices in many local markets reaching record levels in 2020 and 2021, homeowners and prospective homeowners alike wonder what lies ahead.
What has caused home prices to appreciate so much over the last two years?
June Market Report
Monday, July 11th, 2022
๐๐ฎ๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ | Year Over Year Change
Central Corridor
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Median Selling Price - $652,958 | +4.2%
Median Price per/Sqft. $252 | +6.8%
Homes Sold - 240 | -13%
Average % of List Price Paid 101.7.% | +1.7%
Median Days on Market - 6 | -25%
Months Supply - 1.7 | -19%
Active Listings 331 | -26%
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๐๐ก๐๐ญ ๐๐๐ฉ๐ฉ๐๐ง๐๐ ๐ญ๐จ ๐๐จ๐ซ๐ญ๐ ๐๐ ๐ ๐๐๐ญ๐๐ฌ ๐๐๐ฌ๐ญ ๐๐๐๐ค:
โThe Freddie Mac fixed rate for a 30-year loan took a sharp drop last week, falling to 5.30% and offsetting some of the significant rate increases of May and June amid rising recession concerns. The 40 basis point fall from last week comes on the heels of the recent volatility in the 10-year Treasury yield, which dropped below 2.8% in the first week of July and rebounded to 2.9% after spending most of June above 3%. Continued fears of a bear market have driven investors into safer, longer-term bonds, driving up the price of the 10-year note and pushing its yield below that of the 2-year Treasury. Economists and policy makers will watch closely to see whether these market conditions will lead to increases in the unemployment rate or decreases in production that characterize a recession. โ
-Joel Berner/Senior Economist NAR
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๐๐ก๐๐ญ ๐ข๐ญ ๐๐๐๐ง๐ฌ: Prospective homebuyers who have been waiting through 24 consecutive months of year-over-year listing price growth of more than 8.5% may be well-positioned to make a purchase soon if current trends continue.
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