Since I have spent some time the last several weeks closely reviewing my actions performed and the time I spend with buyers, I want to share that with you. You may see lists periodically on what Realtors do for their clients. I may be remiss in not having had a detailed list of my own to share since opening my own firm, so I did just that. I developed my list of 42 activity groups, each one being critical to informing you as a buyer, handling various sale components, and guiding you to a successful purchase and closing on a home of your own. Then I assigned the average time I spend on each activity. On items like low appraisals, I take a small percentage of the number of hours spent to deal with that, as it may only happen once every 15 sales, to arrive at a fair average per sale. I estimate that I average 68 hours with each buyer from start to finish. See here for the list of what I do over those 68 hours: https://drive.google.com/file/d/1fEPXO3unK3EGjU78EYrF7owZiwRSAZva/view?usp=drive_link

It is more important than ever to have an experienced, professional broker, that's me! - representing you as a buyer or seller in today's home marketplace. As you read thru the list I prepared above, many of the items will be of concern to you, and necessary that they be handled properly. I have personally gone thru each of them in many different ways, and am able to share that with you and protect you each step of the way. After 34 years of selling, I still personally perform or coordinate each step - I do not hand you off to a team member, which unfortunately has become common in our industry. I believe we as Realtors will spend more time with buyers upfront explaining things, as we need to have an agreement in place before showing the first house as of August. So I listed my activities pretty much in order of how they happen. Keep in mind that even though other Realtors may have similar lists, or even longer ones (I could list the same items in 80 or 100 points if I wanted), it is the Experience Level of a Trusted Professional that really holds the value.

In the latest Gallup survey on best long-term investments, real estate once again topped the list, as it has the last 12 years! Click: Stocks Up, Gold Down in Americans' Best Investment Ratings (gallup.com) 36% of Americans in 2024 chose real estate over stocks (22%), gold (18%), and savings (13%), among other lower investment avenues. This is reflected in another 2024 Gallup poll showing that 68% of Americans believe home prices will rise in the coming year, click: Americans Expect Home Prices to Rise, See Market as Poor (gallup.com), an increase from 2023 which stood at 56%. Only 11% in 2024 believe home prices will drop in the coming year. That helps to explain why more home buyers are coming back into the market this year. For the last several years, August thru December have been the best months for buyers to get into a home with the least amount of competition, and that time slot is Coming Soon, so get ready to rock!

Just last week I closed the Chesterfield sale of a retiring fellow Realtor of 40 years, that we planned for 2 years, and she commented "Gary, you saw everything before it happened". We had multiple offers over list price, a rainstorm during a busy open house with brand new carpeting that we kept spotless, inspection issues that we kept to a minimum, a low appraisal that we fought and won twice, delays on repair paperwork, moving delays, and a cicada storm. It closed on time, and my sellers were thrilled. Just another day in the life of Gary!

Soon, I will put together and send out a seller list of activities. In the meantime, here is an update on local, existing home sales activity as of yesterday (May 22nd):

  • Manchester had 8 homes available and 27 under contract
  • Ballwin had 14 homes available and 47 under contract
  • Kirkwood had 23 homes available and 54 under contract
  • St Peters had 18 homes available and 101 under contract
  • Arnold had 25 homes available and 33 under contract
  • Florissant had 56 homes available and 107 under contract

The ratios range from 1.3 to 5.6 pending sales for every 1 available. Adding the total of these 6 areas is 2.6 pendings to every 1 available. My last comparison of these areas in January was 1.3 to 1 (and 2.8 to 1 in June 2022) with the available home supply DOWN 8% from Jan. That shows a continuing seller's market with lower inventory and brisk sales rates. St Peters takes honors this month of best seller's market at a 5.6 to 1 ratio of pendings to available, and Arnold (again) the best buyer's market, although still a seller's market with slightly more under contract than on the market at 1.3 to 1.

Enjoy your Memorial Day weekend and please take some time to honor those who have gone before us and defended our country with their lives.