Last year our industry went thru some changes due to a lawsuit and settlement that includes damages awarded to many people who sold their home thru a Realtor. According to the claims website below, you are a part of the Settlement Class if you: (1) sold a home during the Eligible Date Range** (this appears to mean the closing date); (2) listed the home that was sold on a multiple listing service anywhere in the United States; and (3) paid a commission to a real estate brokerage in connection with the sale of the home. If you are uncertain as to whether you are a member of the Settlement Class, you may contact the Settlement Administrator at 888-995-0207 to find out, or view this link for details: Home | National Association of Realtors.  **The eligible dates (note that different regions have different dates, don't ask me why) for listing and selling a home in the St Louis region (MARIS MLS) run from April 29, 2014 thru February 1, 2024, see Long Form Notice for Anywhre and RE/MAX.

If you sold multiple homes during that period, you are to file one claim per home. The amount of your check will depend on the number of valid claims sent in by May 9th, and the final amount set aside from all the settled Realtor lawsuits, currently a little over $1 billion. I do not see a distinction between primary residence, secondary or rental, so I believe all residential properties are eligible. I do not know what happens in the case of a trust or LLC property, where the trust account/ LLC is closed. I have sent a request for this and am waiting for an answer. The form asks for a copy of the closing statement, which you would have received that day. I have copies of all my client's closing statements going back thru 2014 and am happy to supply you with one, just email me with the address(es) needed.

Here is a link that details the claims process and has the claim form: Home | National Association of Realtors

The claim form itself is pretty simple, and can be done online or printed and mailed. Beyond your personal information, it asks for your Listing Brokerage, the home sale address, sale price, sale date, and amount of commissions paid to the buyer's side and the total amount. All of this should be available on the closing statement. Good luck if you are eligible and decide to file a claim!

As we kick off the New Year, the inventory shrank 10% from December. Here is an update on local, existing home sales activity as of Wednesday (Jan 15th):

  • ##Manchester had 3 homes available and 14 under contract##
  • Ballwin had 20 homes available and 34 under contract
  • **Kirkwood had 38 homes available and 24 under contract**
  • St Peters had 40 homes available and 42 under contract
  • Arnold had 15 homes available and 25 under contract
  • **Florissant had 72 homes available and 54 under contract**

**Balanced market leaning toward Buyer's Market

##Strong Seller's Market

The ratios range from .63 to 4.7 pending sales for every 1 available, averaging 1 pending to every 1 available. My last comparison of these areas in December was 1.2 to 1 (and 2.8 to 1 in June 2022) with the available home supply DOWN 15% from November. That shows that sales dropped faster than the supply, moving back toward a balanced market overall. Manchester is still on top for best seller's market at a 4.7 to 1 ratio of pendings to available, while Kirkwood and Florissant dipped to the best market for buyers at .63 and .75 to 1, not only reaching a balanced market, but leaning toward a Buyer's Market! Take advantage of this anomaly and call me about buying a house before the heavy spring market. Don't put off your home purchase any longer, the market is already looking toward spring with corresponding price increases!

To move or improve in 2025, contact Gary to sell or buy (HRE), or for ongoing home and design management services (HHC) in your current or new home.