Monday, February 21, 2011

New Market, Old Rules Apply

Buyer's season has really begun here in Dowtown St Louis. Lofts are getting scooped up, buyer's are enamored, and new residents are heading in. The only drag is that prices are still more "affordable" than sellers would like.

One observation I've made in the past few years is that many sellers, due to financial or other reasons, are cutting corners in the sales process. Because of expected losses or other scenarios, some lofts aren't left in showing condition. They aren't staged, touched up or re-painted, have anchors left in drywall, and have belongings left out. Some of the units are rented, and the tenants leave the unit in horrible shape too.

The bottom line, is that just because the market isn't as lucrative for sellers, all the same rules apply.

In order to attract and capture the buyer, a seller MUST consider what they are competing against and try to put their best foot forward. Homes that aren't prepared for showings often times leave the buyer in a position where they are examining walls and looking for defects, as opposed to an inviting, well staged home where prospective buyers are able to feel comfortable and make that buying decision.

A very good article on preparing your home is here. Also, a Realtor should be a good reference as well.

As we get ready for a brisk spring season in Downtown, those truly wanting to sell have to remember that the buyer is still in charge.

Wednesday, February 16, 2011


DSLRA has been putting out cards in lofts, but just in case you didn't see, the Downtown St Louis Residents Association is hosting an open forum with Mayor Slay regarding the St Louis City earnings tax. This is an important meeting to attend.

Lots of misinformation is out there. There's a movement to take it away, but before we address removing a source of revenue for the city, we probably should talk about it. Are we going to cut services? Would a merger with St Louis County Help? Do we add more to our sales taxes or just bump up property tax?

Obviously lots of people have their opinions. I have mine, but its probably worthwhile for residents of the city to start this discussion before the statewide movement makes the decision for us.

The meeting is at the Old Post Office, Tomorrow (Thursday February 17th from 6:30pm to 8:30pm.

Time for every city resident to get more informed about this and make the RIGHT decision!