In St. Louis county, during the past 6 months, 3072 homes were sold.  During that same period of time, 3694 homes expired out of the Multiple Listing Service (MLS) without a successful sale.  Most St. Louis real estate listings do not sell.

Marketing exposure contributes to this lack of success.  But I believe the most significant reason that homes do not sell is pricing.  You see, by virtue of the fact that they are included in the MLS, they are getting a great deal of exposure.  All real estate agents have access to the listing.  And remember that most buyers find a house through a Realtor.

But Buyers and their Realtors typically do not look at overpriced listings.  And if they do, they usually do not make realistic offers if they have to suffer the stress of “low-balling” the seller.  I talk to sellers everyday who say, “Let’s start the listing high and see what happens.”  What happens 99 out of 100 times is that the house gets no showings.  By the time we get realistic with the price, the “Days on Market” make the house look like it must have some defect.

St. Louis, and the rest of the country, has been experiencing a real estate recession.  The best way to combat this crisis is to work with a Realtor who know how to price homes.  You must have a Realtor who researches prices every day and knows how to apply them to your situation.  For more information, please visit http://www.RussellNolting.com.

A recent report shows improvement in real estate across the country.  St. Louis real estate seems to be leveling as well. The well known S&P/Case-Schiller index shows that the 10 city index and the 20 city index a marked improvement in real estate in the majority of cities that it tracks. What the reports displays are small improvements or minimal devaluation in home values. Home values are up anywhere from .1% to 3.4% in ten cities. In other areas real estate values have remained flat and in harder hit areas home values are decreasing at significantly lower rates.

While the news is certainly not staggering it is encouraging because it indicates that real estate markets across the Country and right here, in St. Louis, are leveling out. Home values are falling less sharply and people are being drawn back into the real estate market. It is no surprise what is stimulating the market. Low home values, low interest rates and the First Time Home Buyer Tax Credit have combined to create an ideal buyer’s market.

For more information on the latest info click here for a report from Yahoo real estate.

According to reports June was the 5th month in a row where pending real estate sales were on the rise, great news for the national real estate market.  While there are still many areas where sales are faltering the majority of the country is seeing home values stabilizing or dropping at greatly decreased levels while at the same time the volume of sales is picking up.  A recent Associated Press article pointed out that “the last time there were five consecutive monthly gains was July 2003.”  Lower home values, the first time home buyer tax credit and reduced mortgage rates are seen as drawing people back into the real estate market.  People can find bargains as far as real estate goes and that is an attraction in any market. At this link you can create an online search for your St. Louis home. For more information visit YahooRealEstate.com.