It’s hard to believe it is now July 1st already!   I am looking so forward to a long weekend coming up.  But with the 4th of July upon us, it is time to think about the second half of the real estate year…and from here on out things tend to slow down a bit.   Folks are on vacation, and then it’s back to school time.   The good news is that we are still in a sellers market in the West St. Louis County area with VERY low inventory and buyers chomping at the bit to find a home to purchase.   Good, nicely kept homes fly off the market!   Buyers are still getting good interest rates so they remain happy as well, even when competing for existing homes.

HOWEVER….on the horizon…changes in lending/title practices due to the monstrosity known as DODD-FRANK.   We are all taking continuing ed classes to learn about these upcoming changes and how they will affect contract dates and closing dates.  From what I have heard, it will take longer to get a loan commitment and longer from commitment to closing.   Along with these changes, we are hearing the ongoing grumblings that interest rates will start to come up in the last quarter.   So those on the fence about selling or buying should consider moving sooner rather than later.  Even if rates go up, they will still be historically low, so buyer need to keep the perspective…when I purchased my first home in 1987, interest rates were 10% and we thought that was LOW compared to the rates in the late 70’s – early 80’s.

As always, please reach out to me if you need anything real estate related…whether it’s help with your taxes, or if it is time to buy or sell a home.   Our office is number one in the state for 24 consecutive years and Coldwell Banker Gundaker is a FULL SERVICE company – not a discount broker.   We are also the number one company in the area!

As I learn the in’s and out’s of this website, I am beginning to add some features.   This time, I am featuring the home that just closed today for my wonderful first time buyers, Raja and Lakshmi….and their two sweet children.   They are new to the US and thrilled to be owning a new home!   They can’t wait to move in and make the home their own.   I thank them for their trust and business.   They are the proud owners of a new home in the Parkway West School District.

Happy Fourth of July…be safe and enjoy the long weekend.