Scams have existed in all walks of life for many years, and the scammers continuously invent new ways of getting you to part with your money. Real estate is no exception. I have been contacted several times this year by suspicious characters, mainly ones that demanded I communicate via WhatsApp, and were supposedly out of town buyers that wanted to buy expensive property in West County. One even signed a Buyer's Rep agreement and sent a proof of funds that looked legitimate. But she never showed up in person, and eventually stopped communicating. Another one texted me about listing a vacant lot in Ballwin he claimed to own and asked me to sell it for him. Funny that I knew the actual owner and contacted him to uncover the fraud.

The most recent issue I am reading about, and the most alarming, is people filing fraudulent documents and title deeds with the County. This can then potentially allow them to borrow money against that house, or sell it and collect the proceeds, or try to force a settlement with the owner to remove it. You would think the County that files these fake documents would have a better system of weeding them out, but they claim that is not their responsibility, according to the reports I am reading. Hogwash I say! It is most certainly their responsibility to ensure the documents they are recording are truthful and legitimate, or it causes many others - homeowners, title companies, lenders, attorneys and more - to clean up after the County recorder.

Perhaps they need to sit down with some title company reps and attorneys and figure out a system that is not too burdensome for the various affected industries, but ensures that only legitimate documents can be recorded. It is too easy that anybody can record a questionable document with a fake notary that can severely mess up the title to what may be your most expensive asset. Mechanic's liens, HOA liens, judgments, loans, transfer deeds. I can envision a system that requires a licensed title company or licensed attorney to prepare and notarize any document that gets recorded, that the County recorder then recognizes as a properly prepared document for recording. Recording title documents has to go thru some type of vetting process along the line.

In the meantime, suggestions range from checking your title periodically, and signing up for fraud alerts - this is listed on STL County for a free notification when something gets recorded in your name. This does not prevent it, and it is not fool proof, but I just signed up for it, pretty simple: Property Fraud Alert - St. Louis County Website

Here is a good overview from a title company of red flags and things to watch for that is on the County website: stlouiscountymo.gov/st-louis-county-departments/revenue/recorder-of-deeds/property-fraud-alert/seller-impersonation-fraud-in-real-estate/

Your title insurance policy from when you bought the place may provide some type of protection, that would be worth exploring. If nothing else, an increase of complaints from homeowners on title policies may push title companies to take action with the County recorders to clean this up.

And lastly, always work with a known professional in the industry when it comes to real estate transactions. Homeowners are getting more unsolicited purchase offers on their home, or sight-unseen offers. How do you know they are legit, and the process is being handled properly? It is worth paying someone like me to represent you in any kind of transaction, as I use only trusted lenders, title companies, inspectors, contractors, and more. I can be flexible on my fees that make sense for the situation.

As we approach Thanksgiving, the inventory continues to rise. Here is an update on local, existing home sales activity as of yesterday (Nov 20th):

  • Manchester had 7 homes available and 12 under contract
  • Ballwin had 33 homes available and 43 under contract
  • Kirkwood had 37 homes available and 46 under contract
  • St Peters had 55 homes available and 69 under contract
  • Arnold had 30 homes available and 24 under contract
  • Florissant had 85 homes available and 87 under contract

The ratios range from .8 to 1.7 pending sales for every 1 available, averaging 1.1 pendings to every 1 available. My last comparison of these areas in October was 1.3 to 1 (and 2.8 to 1 in June 2022) with the available home supply UP 4% from October. That shows, while still a slight seller's market, a rising inventory and less competition for buyers. Manchester is still on top for best seller's market (and inventory dropped) at a 1.7 to 1 ratio of pendings to available, while Arnold dipped to the best market for buyers at .8 to 1, and reached a balanced market. Don't put off your home purchase til the spring and face dropping inventory and rising competition again, do it before then!

Now Showing: 105 Whitewater Dr, Manchester 63011, $329,000: 105 Whitewater Dr, Manchester, MO

Happy Thanksgiving, and may you be scam-free!