Mortgage rates for home buyers continue to drop, and are now in the low 6% range on 30 year fixed loans. For 15 and 20 year fixed rate loans, those rates will be even lower, which can be found in the 5s, as well as adjustables or buy-downs. With fall being a slower purchasing time with less buyer competition, this scenario makes this fall a smart time to buy! If you are considering selling, there is no need to wait, as prices are at all time highs and still selling briskly.

Are storm doors relevant anymore? What about storm windows? No one has put storm windows on since the advent of insulated (sealed 2 pane) glass on homes over 30 years ago, so why are people still putting on storm doors over insulated entry doors?

There are a few reasons why you still may want to, here is a good article that gives pros - including extra safety, visibility, and venting; vs. cons - which are potential damage to main door, awkwardness, cost and appeal: Does Your Home Need a Storm Door? (2024) | Today's Homeowner (todayshomeowner.com)

I believe the negatives outweigh the positives. If you are in the market for a storm door, then read the above and think thru the reasons for getting one, and if they make sense to you. But don't just assume everyone gets them - they don't.

I actually recommend many clients preparing their home for sale to remove their storm doors if they are older models, and patch the holes. It looks so much better from the street seeing the main entry door, and the difficulty of maneuvering yourself and guests thru both doors is removed. Have you ever opened the main door for someone, then the storm door, reach out to shake their hand while the storm door is closing on you and the dog is barking all the while? Then you get what I mean.

Realtors signing home listing agreements and waiting to market them is nothing new. I have done this for years as it allows me to represent the sellers while they are preparing their home for sale with contractors, photographers, stagers, utilities and more. Once the home is ready, then I rollout a full marketing debut to ALL potential buyers and their agents to get the most exposure for my listed properties before allowing any showings or offers. This results in sellers feeling confident they reached every buyer that could have interest in their home, and end up with the best possible offer. However, not all brokerages work that way.

Unfortunately, some brokerages have a business model that routinely markets and promotes their own listings only to their own agents before any public marketing occurs, and encourages private showings and offers to their own select group before the rest of the public, keeping both sides of the sale in-house. Our Realtor Association, unintentionally I hope, has allowed this practice to grow by restructuring policies in the last 2 years, and now calling it an Office Exclusive listing, changing what used to be the common MLS Withheld listing. It may be explained as a benefit to the sellers by those brokerages to show and sell in-house only, and there have been isolated occasions where it made sense for my sellers. But in my professional opinion, this should occur less than 10% of the time, not all of the time.

It is common sense that a property up for sale will get a higher price and better terms for the seller - limited repairs, no appraisals, cash offers, quicker closings, more earnest money, etc. - if the buyers and their agents know they are up against ALL competing buyers, not just a handful. The top brokerage in St Louis right now has a 13% market share, the next highest is 6%. Would you rather have your home marketed and promoted to 6%?....or 13%?....or 100% of your potential buyers and their agents? I think you have your answer to their business model of promoting in-house only.

As expected, the inventory continues to rise into the fall. Here is an update on local, existing home sales activity as of today (Sept 18th):

• Manchester had 10 homes available and 22 under contract
• Ballwin had 27 homes available and 35 under contract
• Kirkwood had 42 homes available and 60 under contract
• St Peters had 40 homes available and 77 under contract
• Arnold had 22 homes available and 31 under contract
• Florissant had 74 homes available and 79 under contract

The ratios range from 1.1 to 2.2 pending sales for every 1 available. Adding the total of these 6 areas is 1.4 pendings to every 1 available. My last comparison of these areas in August was 1.6 to 1 (and 2.8 to 1 in June 2022) with the available home supply UP 4% from August. That shows, while still a seller's market, a rising inventory and less competition for buyers. Manchester is back on top for best seller's market at a 2.2 to 1 ratio of pendings to available, and Florissant the best buyer's market at 1.1 to 1. These ratios are getting close to the most buyer-friendly stats I have seen in 5 years.