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St. Louis Real Estate-Market Watch January 18th, 2008
2008-01-19 07:44:00
St. Louis Real Estate Market Watch  by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.January 18th, 2008The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your ...
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St. Louis Real Estate - Mortgage News - Economic Data
2008-01-14 19:54:00
How will the economic reporting this week affect the St. Louis Housing Market? If you haven?t already subscribed to our RSS feed, do so now, and be sure to follow Chris Scheer all this week as he examines the effects of the reports and weights in on Countrywide Mortgage . ?This will be a very busy week in terms of ...
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St. Louis Real Estate-Market Watch January 11th, 2008
2008-01-12 06:34:00
St. Louis Real Estate Market Watch  by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.January 11th, 2008The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!   The St. Louis Real Estate Market is finally starting to show some signs of picking up a bit. For the first time in the last four weeks, we are seeing an increase of active listings, an increase in the number of homes accepting contracts (pending) and a decrease in market rejected listings (expired listings).  This is a sign that the holiday distractions are over, and buyers and sellers both are back to the business of buying and selling.  This is typically the after holiday trend that we see most every year, so we can’t get too...

St. Louis Real Estate - Mortgage News - Falling Rates
2008-01-11 01:32:00
Are Rates Falling? by Chris Scheer, Branch Manager, Cornerstone Mortgage , O?Fallon, MO Well the year has started off with interest rates heading lower, but have they really?  With Fannie Mae and Freddie Mac adding risk based pricing to their delivery fees for all loans delivered after March 1, 2008, see Fannie Mae. Who knows what the rate ...
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St. Louis Real Estate - Mortgage News - Cust. Service
2008-01-07 17:59:00
Customer Service or Lack There Of! by Chris Scheer, Branch Manager, Cornerstone Mortgage , O’Fallon, MO If you have read my previous posting on Manufactured Housing you may be aware of the challenge that I had getting the appraiser to put the Make, Model, serial number and year manufactured on an appraisal of a Manufactured house.  The appraisal form clearly states that this information is needed, yet the appraiser we chose to use could not find the information on the property and thus felt it was not his responsibility to locate it.  Over a 2 week period my assistant requested the information be added to the appraisal and each time she was told he didn’t have it or have access to it.  Since this was one of my first challenges working with this assistant I let her attempt to handle the situation until it became a crisis.  I recognize I should have stepped in sooner, but until you see someone perform under fire you don’t know how good they are. At the eleventh hour I went to...
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St. Louis Real Estate-2008 Begins NOW!
2008-01-05 19:33:00
St. Louis Real Estate Market Watch January 4th, 2008The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!  The St. Louis Real ...
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St. Louis Real Estate-Happy New Year!
2007-12-29 22:32:00
St. Louis Real Estate Market Watch  December 29th,  2007 The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions and comments are welcome!  St. Louis Real Estate comes to the close of another year.  And what a year it’s been watching home prices slide downward and days on market climb into triple digits. Watching the “Mortgage Credit Crisis� unfold was, and still is, one of the major events we all are paying close attention to.  Buyers and Sellers this past year have had to adjust to a new set of “rules-of-thumb� when it came to buying and selling a home. Those that adjusted quickly had great success with their buying and selling process; those that took too long to adjust helped contribute to the abundance of inventory of homes that are still available.  When...
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St. Louis Real Estate - Mortgage News - Manufactured House Blues
2007-12-28 03:18:00
Manufactured Housing by Chris Scheer, Branch Manager, Cornerstone Mortgage, O’Fallon, MO So why is it so hard to get a loan for a manufactured house?  Over the past month I have had the opportunity to work a loan that was on a manufactured house that had been repossessed by HUD.  The client came to me saying they wanted to buy this house without having sold their current home so they could have time to fix it up before moving in.  The borrower was self-employed and he felt his tax returns would not support him owning 2 homes.  Based upon his excellent credit I told him we had a way to do the loan if he put 10% down.  We would allow him to state his income and then when he sold his current home and was ready to pay down the mortgage on the new home we would refinance him.  Things were going along swimmingly until the file hit underwriting.  Even though the guidelines I had for the investor said they would do a conventional loan using stated income on a manufactured home, the...
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St. Louis Real Estate-Market Watch December 22nd, 2007
2007-12-22 22:56:00
St. Louis Real Estate Market Watch  December 22nd,  2007The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!  ST. LOUIS REAL ESTATE ...
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St. Louis Real Estate - Mortgage News - Shell Game
2007-12-19 03:57:00
The News paper Game! by Chris Scheer, Branch Manager, Cornerstone Mortgage , O?Fallon, MO Have you ever looked in your local paper or looked in the Sunday Newspaper to get interest rates for mortgages?  After looking did you take the time to call some of the lenders?  What did you find?  I will be that 99% of the ...
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St. Louis Real Estate - Building Inspection - Anybody got a Quarter?
2007-12-18 01:03:00
LAUNDRY ROOM COMPONENTS by Harry Morrell, Allied Building Inspections I love hearing from young first time home buyers about how excited they are about finally getting out of that small rental apartment and having their own washer-dryer in their own laundry room. No more pumping those quarters into those old dirty public machines in the middle ...
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St. Louis Real Estate-Market Watch December 15, 2007
2007-12-15 20:48:00
St. Louis Real Estate Market Watch  December 15th,  2007The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!  This week, buyers choices ...
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St. Louis Real Estate - Mortgage News - Bond Whiplash
2007-12-11 03:06:00
Follow the bouncing bond market! by Chris Scheer, Branch Manager, Cornerstone Mortgage , O?Fallon, MO For those that take the time to check this blog often, you will notice that over the last two weeks we have had the past two Mondays highlighted  by strong buying on the bond market which has driven the 30 year fixed ...
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St. Louis Real Estate-Market Watch December 8th, 2007
2007-12-08 19:53:00
St. Louis Real Estate Market Watch  December 8th,  2007The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!  The St. Louis Real Estate Market this week continues to show typical seasonal trends of slowing with an increase of expired listings staying off the market, and a big drop in active listings.  The good news is that our pending ratio is holding between 12–13%.  This is a good indicator that the homes that are still on the market are attracting offers and accepting contracts.  The other good news is that if you are loan shopping now, you have an opportunity to get a fixed 30 year mortgage below 6%, if you qualify.  Check out our Mortgage Guru Chriss Scheer’s latest articles poste...

St. Louis Real Estate - Mortgage News - Ride the Rate
2007-12-05 03:20:00
Here we go again?  by Chris Scheer, Branch Manager, Cornerstone Mortgage , O’Fallon, MO Another hectic Monday on the bond market; today was not so much a flight to safety as it was Wall Street trying to paint the Fed into a corner and force them to lower interest rates.  See Jim Jubaks article about forcing the fed to act. Then you have the proposal by U.S. Treasury’s Henry Paulson to help put a freeze on the rate changes for millions of American’s facing rate hikes on their adjustable rate mortgages. Any time someone mentions the challenges facing homeowners and their ability to handle their mortgage payments Wall Street jumps on that as the reason why the Fed needs to step in. What am I missing here?  Who created this mess?  Wasn’t it Wall Street that took all these high risk loans and split them up into various mortgage backed securities and promised great returns with little risk? So now Wall Street is trying to force the Fed into saving them by lowering short term ra...
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St. Louis Real Estate - Mortgage News - Them Changes
2007-12-02 23:01:00
More Changes Coming! by Chris Scheer, Branch Manager, Cornerstone Mortgage , O?Fallon, MO The days of asking a loan officer what his interest rate is are going to end.  Now the question will be what it should have been all along, what is your credit score, how much are you borrowing and at what loan to value.  Both ...
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St. Louis Real Estate-Just Do It-NOW!
2007-12-01 21:10:00
St. Louis Real Estate Market Watch November 24th,  2007The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!  HEY BUYERS!! How much ...
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St. Louis Real Estate - Mortgage News - Lock it and Pocket the Money
2007-12-01 20:07:00
Flight to Safety? by Chris Scheer, Branch Manager, Cornerstone Mortgage , O?Fallon, MO What a 24 hour period on the bond for the mortgage backed securities.  Several Days ago the bond market was whipsawed by the statements made by Senator Schumer.  During the next 3 hours interest rates on the 30 year fixed fell to 6% and depending upon ...
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St. Louis Real Estate - Mortgage News - Blame Game
2007-11-29 04:06:00
Are we done with the blame game? I continue to read stories in newspapers and on line about who is to blame for the mortgage mess.  The latest is posted here; Who’s to blame for the Mortgage Mess . At this point does it really matter who is to blame.  As with the past financial challenges that this ...
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St. Louis Real Estate-Market Watch November 24, 2007
2007-11-24 20:17:00
St. Louis Real Estate Market Watch  November 24th,  2007The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!  The St. Louis Real ...
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St. Louis Real Estate-Market Watch November 17, 2007
2007-11-17 20:23:00
St. Louis Real Estate Market Watch  November 17th,  2007The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!     Thinking of buying or ...
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St. Louis Real Estate - Off Topic - The Tomato Tribute
2007-11-15 02:52:00
WOW. . . what a trip, from green on the vine to a ribbon at the fair, the ?St. Louis Real Estate ? fair, no less. Our blogging experiment started sometime last January with a lot of research on the web that, fortunately for us, found it?s way to a blogging zealot named Jim Cronin at the ?Real ...
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St. Louis Real Estate - Building Inspection - Grading and Drainage
2007-11-14 01:38:00
GRADING AND DRAINAGE by Harry Morrell, Allied Building Inspections A big part of the foundation and structure inspection involves getting a real close look at the grading and drainage on the site that the house was built on. Home inspectors will have all their red flags up when they drive up to a house below street ...
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St. Louis Real Estate - Mortgage News - Wise Up
2007-11-12 21:25:00
I had the chance to get my shoes shined last week and found more wisdom in the person shining my shoes than I do in most people I meet on a daily basis.  Life has been hard to him but he also has finally learned from his mistakes.  He says it took him the opportunity ...
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St. Louis Real Estate-Market Watch November 10, 2007
2007-11-10 19:27:00
St. Louis Real Estate Market Watch  November 10th,  2007The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!  The St. Louis Real ...
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St. Louis Real Estate-Market Watch November 2, 2007
2007-11-04 01:54:00
St. Louis Real Estate Market Watch  November 2nd,  2007The Anatomy of St. Louis Real Estate The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions a nd comments are welcome!  The St. Louis Real ...
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St. Louis Real Estate - Mortgage News - Rate Cut
2007-10-31 20:23:00
Fed Rate Cut!  Mortgage Rates Rise!! As expected the Federal Reserve lowered short term interest rates today.  For the news story please click here.   So why are interest rates rising?  If you have paid any attention to my previous writings you will understand that the Bond Traders make moves prior to a Fed announcement to position ...
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St. Louis Real Estate - Off Topic - OMG!
2007-10-31 01:57:00
  WE’VE BEEN RANKED! Thanks to our readers, guest editors, and the TOMATO. Tags: Google+Page+Rank Add To:
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St. Louis Real Estate - Mortgage News - Downpayment Assistance
2007-10-31 00:58:00
Downpayment Assistance Rule: For the past few years, FHA has allowed charitable non-interested parties to supply the down payment to a borrower on FHA loans.  Unfortunately, this practice caused housing prices to be inflated as the seller would raise their price and then contribute the increase to the charity as a donation.  The charity would then ...
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St. Louis Real Estate - Mortgage News - Get on It
2007-10-29 01:58:00
  Lock Now! by Chris Scheer, Branch Manager, Cornerstone Mortgage , O?Fallon, MO Over the last week we have seen interest rates for fixed rate mortgages drop between .25% and .375%.  Why is this you ask?  Wall Street is taking positions based on what they think the Federal Reserve will do with short term interest rates.  For those ...
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