Saint Louis Blog

January 29, 2007                       St. Louis District

Motorists may experience delays and are encouraged to use alternate routes. Plan ahead — for ways to avoid work zones, call 1-888-ASK-MODOT or visit our website at www.modot.org.
                                                                                                                                 
Prepared by Drew Gates, 314-340-4161  

Following are some ideas to consider prior to doing your remodeling and help you get off on the right foot.

If you’re a do-it-yourselfer, take some time to make a plan. Inquire at the hardware stores if they provide classes to help you learn more about "How To’s". Check the Internet too, for some great information on those items you may not have a good knowledge of or how to tackle it.

Be sure to check with your municipality as to what is required regarding permits. Better to do that BEFORE you begin the work. If you go forward and later they find out about it, you may have to pay a fine, or even take the work apart and have it redone. Do it right the first time. If it involves plumbing, electric or changing the structure of the home, be sure to use a licensed contractor. When you go to sell your home, the REALTOR will want to know who did the work and if it is done according to the "building code". 

If you’re going to hire someone to do the jobs, be sure to talk to your friends for referrals to someone reliable. Depending on the job, it can take a long time to get ‘er done! Be sure to ask for and get referrals. Check with the Better Business Bureau to see if they have any complaints against the company you’re planning on using. Try to get some one with experience in the field and that is registered with the state as doing business here. Ask about warranties or guarantees.  If you plan on having a kitchen remodeled, it can take 3-6 months to get though it. Sometimes the appliances or other items that are sent to you are damaged or not what you really wanted after you’ve gotten it. It will take longer to find another replacement part or item, particularly if you are undecided or they no longer carry the item you wanted. Be prepared to eat out alot and be incovenienced. Water will need to be shut off, electric too! If you’re having the floors done, you won’t be able to walk on them for a while.

Be sure to keep a notebook of your choices, including paint chips, model numbers, contact information and a list of restaurants that deliver!  Even the best of companies have problems to deal with; patience and understanding will go along way to helping you through the process.

Will you pay by the hour or by the job being done (time & material)? Are you getting a discount that the remodeler passes on to you? Be sure you have EVERYTHING in writing! Remember: Who, What, When, Where & Why. Again, get it in writing!

Kitchen cabinets in the "new" height of 42" cabinets are the most desired. You can’t have too much cabinet space. Don’t add granite tops or new hardware on old 80’s cabinets. It will appear you’ve been cutting corners.

You may want to consider choosing a light to medium stain when refinishing floors or installing new wood floors. You can always darken them, but it is expensive to lighten them at a later date.

Choosing laminate or parquet may be less expensive, but think "RESALE". Quality pays off in the long run.

Choose neutral colors for the walls; you can spice up the look with your color palette and change it frequently if you want.

Today’s buyers prefer main floor laundries and first floor family rooms. More and more folks are wanting a first floor master suite too (if you’re planning on adding on).

Larger walk-in closets, pantries and laundries near the bedrooms are on the "A" list.

In ground pools may be great, but most people in colder climates just think of them as a liability. If you want one, know that selling your property may be more difficult. You are buying it for your enjoyment and most likely will not recover the cost of putting it in. If you’re O.K. with that, go for it. Enjoy!

 Plan for remodeling the adjacent room too, as you won’t want your project to appear to be a poorly planned rennovation.

Avoid textured walls, wallpaper and those popcorn ceilings; all are percieved to be difficult to deal with when it comes to painting. If you do add wallpaper, size the walls first, so it will be easier to remove, if necessary. Use wallpaper in a small amount, if at all.

Remember that laughter is good for the soul and keep a light heart when you start the project. Yes, there will be problems, but in the end, you’ll be so pleased with the results! It’ll pay off if you’re redoing the kitchen or baths, when you sell. Good Luck!

Judy Sepac 314-744-4771    www.judysepac.com 

A $465 Million, 45 Thousand square foot spec building (office/warehouse) will be constructed on 4.4 acres at Lakeside Crossing in Maryland Heights. Completion is estimated for fall of 2007. Eagle River Capital (Andy Kohn) is the owner/builder for the project.

A forty five thousand square foot warehouse ($426 Million) will be constructed on 4.4 acres at Lakeside Crossing in Maryland Heights. Completion for the building is estimated for early fall. Eagle River Capital (Andy Kohn) is the owner/builder for the project.

Financing for the $5.6 million Plaza and Park to be located at Ninth and Locust is getting in place. Spring will bring construction to the thirty thousand square foot parcel that is located across from the Old Post Office building.

Just down at the end of the same block a $50 million, 25 story Condominium Tower will be constructed. Roberts Brothers Properties is the builder for this project.  St. Louis is ON The MOVE!

One Month Before Moving   Obtain an IRS Change of Address form,    call 1-800-829-1040.   Gather moving supplies, boxes, tape, rope.· Make any necessary travel arrangements like   airline, hotel, and rental car reservations, or plan your travel route if driving. ·  Call a moving company or make truck rental reservations to move yourself. ·  Finalize real estate and apartment rental needs. ·  Place legal, medical, and insurance records in    a safe and accessible place. ·  Give-out your new address (using address change notification cards) to:     * Friends and family members     * Banks, insurance companies, and other financial institutions     * Charge card and credit card companies     * Doctors, dentists, and other service providers     * State and Federal Tax authorities and any other government agencies as  needed.     * IRS ·  Save moving receipts (many moving expenses are tax deductible). ·  Make maps of your new neighborhood to  familiarize yourself and your family with your new area. ·  Plan your moving budget  Two Weeks Before Moving   Inform gas, electric, water, cable, local   telephone and trash removal services of your move.·  Sign up for services at your new address. ·  Sign up for services at your new address.·  Get new cable service for your new home. ·  Cancel old long distance and get new. ·  Recruit moving-day help. ·  Confirm travel reservation. ·  Arrange to close or transfer your bank  account.  The Day Before Moving   Set aside moving materials like a tape measure, pocket knife, packing boxes, tape and markers.·  Pick up rental truck. ·  Pick up rental truck.·  Check oil and gas in your car. ·  If traveling, make sure you have tickets, charge cards, and other essentials.  After Relocating  During the First Week After Moving ·  Locate police, fire stations, hospitals and gas stations near your home. ·  Scout your new neighborhood for shopping areas. ·  Call the Department of Sanitation to find out which day the trash is collected. Also ask whether your new community has recycling programs. ·  Seek out new service providers such as a bank, cleaners, veterinarian. ·  Register to vote. Call your local board of elections. Ask them how to notify your previous voting district of your change of address. ·  If you have moved into a different state, contact the Department of Motor Vehicles to exchange your driver’s license. ·  Call your Chamber of Commerce for helpful information on: schools, cable service, cultural events and community activities, libraries and parks, and availability of emergency (911) calling services. ·  Provide your new doctor and dentist with your medical history. You may need to request your file from your previous doctor/dentist. ·  Transfer insurance policies. You may also wish to make a detailed list of your belongings, their value, and your coverage. ·  Give your new home a good cleaning. ·  Watch for effects of stress on family members and pets so you can give comfort and a helping hand. Packing Tips   Keep the following supplies and accessories on hand:  Boxes, all sizes Bubble wrap or other cushioning material Marking pens Tape measure Furniture pads or old blankets Packing tape and scissors Money and credit cards ·  Label each box with the room in the new home to which it should be delivered. ·  Number the boxes and keep a list of what is in each box. ·  Clearly mark fragile items. ·  Pack a bag of personal items you’ll need during the move (change of clothes, toiletries, medicine, maps, food, and drinks). Keep it in an easy-to-find place when you pack. ·  Keep a medical kit accessible. ·  If you have children, pack a bag of games and activities for the trip.

If you don’t set your listing price correctly, the market will do it for you OVER TIME! 

No matter what you “want” or “need” for your home; or what you “think” it is worth, the supply and demand of comparable homes in your area will determine the sale price of your home.  Fewer homes, price goes up; more homes, price goes down.

Therefore, have an experienced Realtor calculate sold(not listed) comparables from your neighborhood and determine a sales pricing plan specifically for your home.

If you truly believe your home is superior to the current market and commands a higher than average cost, start at that price; but bring it down in two weeks or less if there are no offers.  Those first days are key to getting the most motivated buyers.  If you miss them because of price, you may have missed them forever.

A home correctly priced, should bring an offer in 30 days. 

Between 30 and 60 days you’ll get first-time lookers and picky buyers.

After 90 days you’ll get deal-seekers if any; because buyers will wonder what is wrong that the house hasn’t sold.

Buyers and agents search MLS and the Internet by the listing price the buyer can afford (not what they think the seller will take).  If you are priced higher, but will consider “any offer” hoping to get the highest price; you’ll be chasing your buyer down the price range until you get into their price range; which takes TIME.  For example, say you will take $290,000 and a comparable analysis supports that price.  Pricing it at $305,000 will eliminate buyers who top out (and search) under $300,000.  Bottom line:Never be more than three percent over your bottom line if you want to sell in 30 days.

Other benefits to accurate pricing:

Save carrying costs, mortgage payments and other ownership costs.

A quicker sale is more convenience for you. It takes energy to prepare for showings: keeping the home clean, making childcare arrangements, and altering your lifestyle. 

Higher price in the short run. Lower price in the long run. Sellers who list high look for that one buyer who will pay, discouraging potential buyers who could afforded the home. Then, they have to accept a much lower price at a much later date to the one buyer willing to make an offer.

Excite buyer’s agents. When a home is priced right, salespeople are excited to be the one to sell it. They contact all of their potential buyers quickly. If priced wrong, they may not be back for the lowered price.

Serious prospects are educated about asking prices in the areas they are seeking. They will not waste their time on a home considered overpriced. 

 Multiple offers!  Buyers fear they’ll lose out on a good home priced right. They are less likely to make “low ball offers.”  

  For more information or market evaluation

Your home will be more appealing and look larger if it’s neat and organized.  Go room to room and note what needs to be “de-cluttered” and cleaned.  Make a list for tackling the jobs one by one.  Spending a few hours a week will pay off.

* Remove piles of paper, mail, books, tapes, and collectibles from tables and other flat surfaces.  Move items from stairs, the tops of televisions and refrigerators.

* Closets and cabinets should only contain 80% of their capacity.  You may even want to reduce that percentage further.  Store off-season clothes and holiday decorations off site.  You may want to start packing now and store elsewhere.

* Sell or remove any furniture, plants or furnishings that may visually open up a room.  Limit the number of pictures on walls, tables, shelves, mantles. Remove throw rugs.

 *Clean out your carport or garage and basement. Organize tools, toys, boxes, and remove anything possible.  Your possessions obstruct the buyer’s view of your home.

* Cutback bushes and tree branches.  Weed gardens and patios.  Remove anything dead, and consider replacing.  Clean-out gutters. Cut, edge and trim your grass.  Fix broken shudders, screens, windows, mailbox, gates, fences, steps and the like.  Consider planting flowers.

* Consider a coat of neutral paint throughout your home.  Paint the front door.

* Deep clean as much as you can.  Dust from the floor to the ceiling.   Rent a steam cleaner or have your carpeting professionally cleaned.  Clean and tidy shelves and cabinets; consider new contact or lining paper.  Wash windows and glass surfaces inside and out if possible.  Re-grout tile, bath and kitchen fixtures.

* Clean ashes and wood from fireplace.  Clean permanent gas grills.

* Peruse your neighbor’s homes for unsightly trash or possessions that are visible from your home.  Their mess affects the value of your property.  Consider offering to help remove, if possible, or involve the local municipality for ordinance infractions.

* When leaving for a showing, open blinds and drapes.  Crate or remove pets and pick-up their toys, gates, yard waste etc. Turn on lights throughout your home. 

 For more information call Dana Tippit at 314-651-9900 

www.YourResidentialPartner.com

The most important decision you will make in the sale of your home is the REALTOR® you choose. Be sure to find someone you feel comfortable being honest with and asking questions.  Two-way communication is paramount to success!

Your REALTOR® should show you research on pricing and any recommendations. This includes information about recent sales, current listings, and recently expired listings in your neighborhood.

Choose a local REALTOR®. He or she will know your area better than an outsider, will be seen as a source for people looking to relocate in your neighborhood, and will get better co-operation from other agents. It is likely that any amount you might save by having a friend or relative from outside the area serve as your REALTOR® will be lost in their lack of knowledge about your specific local market. Choose a local REALTOR®. He or she will know your area better than an outsider, will be seen as a source for people looking to relocate in your neighborhood, and will get better co-operation from other agents. It is likely that any amount you might save by having a friend or relative from outside the area serve as your REALTOR® will be lost in their lack of knowledge about your specific local market. Ask the REALTOR® to show you what will be done to market your home.Ask the REALTOR® to show you what will be done to market your home.Consider the office and company support available to him or her as well as the initiative and professionalism shown by the individual. Ask the REALTOR® to show you what will be done to market your home.Consider the office and company support available to him or her as well as the initiative and professionalism shown by the individual.Look for a REALTOR® who tells you what he or she knows from experience in the market, and not what they think you want to hear.Look for a REALTOR® who tells you what he or she knows from experience in the market, and not what they think you want to hear.Use these questions to help you chose:Look for a REALTOR® who tells you what he or she knows from experience in the market, and not what they think you want to hear.Use these questions to help you choose:Look for a REALTOR® who tells you what he or she knows from experience in the market, and not what they think you want to hear.Use these questions to help you choose:Look for a REALTOR® who tells you what he or she knows from experience in the market, and not what they think you want to hear. Use these questions to help you choose:

Look for a REALTOR® who tells you what he or she knows from experience in the market, and not what they think you want to hear. Use these questions to help you choose:Questions to ask a prospective agent

1. What makes the agent unique? What things does the agent offer that others don’t to help you sell your home in the least amount of time, for the most money, with the least hassle? 

2. What’s the Company’s (or their) track record and reputation?

3. What are the agent’s specific marketing plans for your property?

4. What has the Company (or they) sold in your area?

5. What is their commission rate?  Will they reduce that rate if you get both sides (bring the buyer)? 

6. Does the agent know the neighborhood?  If they don’t know, they won’t know what sells, how to market or what is the best price.

7. What kind of communications does the agent offer?   How will they communicate and how often with you?

8. What kind of service guarantee is offered?  Make sure you can cancel if you are unhappy.

9. What price plans do they have for the property?

10.  What have other comparable properties sold for in this neighborhood?

11. What is the “average-days-on-market” for the neighborhood?

12. What brings buyers into the neighborhood?  What gets them to buy?