Official Publication of the St. Louis Association of REALTORS®
® The Voice for Real Estate® in St. Louis with nearly 8,000 members strong. October 2011
Volume 7 - Number 10
2011 Tax Credits Available for ‘Green’ Updates
4 page
Click here to see a video message from Nate K. Johnson, SLAR 2011 President
SLAR Election Coverage page 8
Contents 14 RPAC Mini Golf Event
Affairs 15 Urban Visits Botanical
12777 Olive Blvd., St. Louis, MO 63141 (314) 576-0033 – main line (314) 576-7143 - fax www.stlrealtors.com
Grove
With 17 Meeting Russ Carnahan
2011 Board of Directors Executive Committee Nate Johnson, President Donna Zerega, Vice President/ Treasurer Gail Brown, Member at Large David Morris, Commercial DivisionPresident
Glenn Vatterott, President-Elect Elizabeth Braznell, Secretary Letty DeMay, Immediate Past President Fred Kratky, Executive Vice President/CEO
Directors Elizabeth Braznell, REALTOR® Director (2011) Mickey McNearney, REALTOR® Director (2012) Gail Brown, REALTOR® Director (2011) Michele Sloan Mulford, REALTOR® Director (2012) Mike Travaglini, REALTOR® Director (2011) L. K. Wood, III, REALTOR® Director (2012) Barry Upchurch, REALTOR® Director (2011) Bob Bax, REALTOR® Director (2013) Tiffany Hamilton, REALTOR® Director (2011) Sue Middendorf, REALTOR® Director (2013) Sandy Hancock, REALTOR® Director (2012) Carole Mulina, REALTOR® Director (2013) Barb Keathley, REALTOR® Director (2012) David Townsend, REALTOR® Director (2013) Janet Judd, REALTOR® Associate Director John D. Williams, REALTOR® Director (2013) Mike Rouhani , REALTOR® Associate Director Shelly Clark, Affiliate Director LaWanda Elgin, REALTOR® Associate Director
Legislative Report
10-17
Education
18-19
SLAR Sold Stats
24
Calendar of Events / Affiliate Calendar
26
St. Louis Association of REALTORS® Staff Executive Vice President/CEO Office
Legislative
Fred Kratky, Executive Vice President/CEO fkratky@stlrealtors.com Direct line: (314) 590-2319
Celeste Rueter, Governmental Affairs Director crueter@stlrealtors.com
Patty Bommarito, Executive Assistant pbommar@stlrealtors.com
Membership, Finance & REALTOR® Shoppe
Admissions, Grievance & Ethics Chris Woods, Senior Vice President Operations, Ethics & Professional Standards cwoods@stlrealtors.com Direct line: (314) 590-2306 Judy Partsch, Receptionist jpartsch@stlrealtors.com
Rick Capelli, Senior Vice President of Membership & Finance rcapelli@stlrealtors.com Direct line: (314) 590-2313 Kim Russell, Bookkeeper krussell@stlrealtors.com
Katie Benz, REALTOR® Shoppe/ SUPRA Administrator kbenz@stlrealtors.com Tammy Williams, Membership Assistant twilliams@stlrealtors.com
Public Relations
Commercial Division Susan Wagner, Commercial Division Vice President swagner@stlrealtors.com Direct line: (314) 590-230 Tina Luehrmann, Commercial Assistant tinal@stlrealtors.com
Education, Room Rentals, Contracts & Forms Karen Dunn, Education Director kdunn@stlrealtors.com
Ali Pauluhn, Public Affairs Coordinator apauluhn@stlrealtors.com
Monica Pingel, Assistant mpingel@stlrealtors.com
REALTOR® Shoppe Hours of Operation Monday - Friday 8:30 a.m. – 5:00 p.m. For advertising information, please contact Foley Publications at 1-800-628-6983 or visit www.foleypub.com
Connie Chartier, Vice President of Public Relations cchartier@stlrealtors.com Direct line: (314) 590-2304
Matt Newport, Website / PR Coordinator mnewport@stlrealtors.com
Mid-America Regional Information Systems (MARIS)
1714 Deer Tracks Trail Ste. 200, St. Louis, MO 63131 Paul Prince, President pprice@marisnet.com Denise Bielicke, Controller dbielicke@marisnet.com Tracey Yost, Membership Manager tryost@marisnet.com Robyn L. McPherson, Training Coordinator rmcphers@marisnet.com Nikki Craig, Receptionist ncraig@marisnet.com
(314) 984-9111 www.marisnet.com David Price, Vice President & Systems Manager dprice@marisnet.com Pattie Elkins, Accounts Receivable Clerk paelkin@marisnet.com Jason A. Darrough, Systems Support Specialist jdarroug@marisnet.com Katie Otto, Public Relations Manager kotto@marisnet.com
Commercial Information Exchange (CIE)
301 Sovereign Ct., Suite 109, Ballwin, MO 63011 Bonnie Devine, President/CEO bonnie@stlcie.com
(636) 230-6243
www.stlcie.com Judith Jakuboski, Executive Assistant judith@stlcie.com
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Affiliate Corner POOR ACCESS IS A DEAL SNAGGER Prior to the Home & Termite Inspection, Listing Agents should convince sellers to provide adequate access to critical components such as: electrical panels, heating & cooling systems, attic space, water heaters, and sump pumps. Home Inspectors are not expected to remove personal property. Cars parked beneath attic doors, heavy appliances blocking electrical panels, clothes filling the closets where the attic is accessed, etc. create a mystery regarding big-dollar components. When the buyer is not aware, the transaction is stalled. Agents involved must get extensions, re-schedule inspections, and add costs to the process. Adequate access makes for a smoother transaction. Information provided by Aaron Mayer, who is a member of the St. Louis Association of REALTORS’ Affiliate Committee and the St. Louis ASHI Chapter 2011 Vice President. He may be contacted at PickHousewarming@netzero.net.
Put the power of Chase to work for your clients At Chase, we’ll work closely with your clients to find a loan that meets their needs. We have a wide variety of loans and special programs for military personnel, union members and more. And you’ll get the dedicated, personal service you want to help grow your business. To find out more, call Bryan Bergjans at (636) 735-2117 or Terra Ritchie at (636) 735-2114.
All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products available in all states or for all amounts. Other restrictions and limitations apply. JPMorgan Chase Bank, N.A. ©2011 JPMorgan Chase & Co. 13546R 0411
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2011 Tax Credits Available for ‘Green’ Updates Adding green technology into a home can help home owners save in a long run but some home owners may not be able to afford the costly upfront investment. Several tax credits are available to help home owners-and buyers--save on green updates. Here are two main tax credits available for those interested in making energy efficient improvements to their homes:
2009 and 2010, can no longer participate in the program.” Learn more about what upgrades are eligible as well as how to apply. Source: “Facts on the Energy-Efficiency Tax Credit,” National Association of Home Builders & Daily Real Estate News -September 2011
1. Wind, Solar, Geothermal and Fuel Cell Tax Credit: This tax credit is available for both existing homes and new construction. Home owners can receive a credit up to 30 percent off the cost of their improvements between Jan. 1 and Dec. 31 of this year. The following green updates qualify: Geothermal heat pumps, solar panels, solar water heaters, small wind energy systems, and fuel cells. 2. Qualified Energy Efficiency Improvements: This credit gives a 10 percent tax credit for purchases that were “placed in service” between Jan. 1 and Dec. 31, 2011. According to the National Association of Home Builders: “The maximum credit for a taxpayer for all taxable years being $500, and no more than $200 of such credit may be attributable to expenditures on windows. This rule means that taxpayers who have claimed $500 or more of this tax credit in prior years, particularly
Contact Foley Publications about our monthly advertising specials!
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Check Out SLAR’s New Website! We are so excited to launch the new stlrealtors.com. Our goal is to provide you with a one-stop resource for all the latest real estate industry news, as well as a launchpad to the real estate sites you use most often. The quick links at the top of the page will guide you to the sites you use most often such as online forms and Maris. Current SLAR and Industry news are prominently listed front and center on the front page in the news box, as well as the scrolling ticker tape on all the pages. The calendar on the front page shows you the upcoming association events. This is only phase one of our new site. Check back often for exciting new features! Is there something we missed? Or something you’d like to see on our site? Click here to shoot us an email, or give us a call at 314-576-0033, we’d love to hear for you.
With today's market uncertainty, don't gamble with your closing dates Recommend your buyers to Wells Fargo Home Mortgage Don't let today's mortgage market challenges impact your business. When you work with Wells Fargo, you have the added confidence that only comes from working with a wellcapitalized, diversified financial services company. We provide the security you and your buyers need with the Wells Fargo Closing Guarantee 1 for your purchase transactions. And through our retail channel, we continue to provide a variety of home mortgage loans at competitive interest rates.
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636-730-3310 636-467-2230 636-922-9810
Nationally recognized for our industry-leading lending practices and standards, we are committed to helping make homeownership possible for consumers. Our retail team is committed to serving the needs of REALTORS ® and builders! With our proven capabilities to excel during market fluctuations, it's in your best interest to work with a leading retail mortgage lender—Wells Fargo Home Mortgage.
Glen Carbon, IL Shiloh, IL
618-650-7500 618-632-2600
1. Available on all qualified purchase transactions. Other terms and conditions apply. See a home mortgage consultant for details. This information is for real estate and building professionals only and is not intended for consumer distribution. Information is accurate as of date of printing and is subject to change without notice. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2011 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801. AS665185 8/11-11/11
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Congrats to SLAR Election & Award Winners! A small but enthusiastic crowd waited in anticipation at the Granite City Brewery’s Olive Boulevard location, as St. Louis Association of REALTORS’® (SLAR) President –Elect Glenn Vatterott announced the winners of this year’s 2012 Board of Directors’ election as well as the winners of the 2011 REALTOR® Recognition Awards. SLAR’s election results were as follows: President Elect- Donna Zerega; Vice President/ Treasurer- Elizabeth Braznell; REALTOR® Director (3 year term)- Mike Carter, Tiffany Hamilton, Pat Malloy, Carolyn Mantia and Mike Travaglini; REALTOR® Associate Director (3 year term)- Janet Judd; and National Association Director (1 year term) Bruce Aydt. The Association’s REALTOR® Awards winners included REALTOR® of the Year- Sandy Hancock; REALTOR® Associate of the Year- Marc Levinson; Manger of the Year- David Townsend; and Affiliate of the Year- Rebecca Meier. Congratulations to all SLAR Election and REALTOR® Award winners!
SLAR’s Installation Luncheon Celebr The St. Louis Association of REALTORS’® Installation celebration has been scheduled for Friday, November 4th at the beautiful historic Chase Park Plaza, beginning with the social hour at 11 a.m. followed by the lunch and program at Noon. In addition to honoring REALTOR® Recognition Award winners,
the Association will have the Installation of its 2012 Officers and Directors, along with the St. Louis Chapter of the Women’s Council of REALTORS®, who will also be swearing –in their 2012 officers. This year’s luncheon will be hosted in the Starlight Room, the perfect venue for business and pleasure with fellow associates in the
REALTOR® Report
ration is Nov.4th! industry! Sponsorship opportunities are available. The Association is expecting to sell out early for this very prestigious event. Don’t delay, make your reservations today! Social hour begins at 11:00 a.m. followed by the lunch and program at Noon. Ticket price is $45
per person, which includes one drink ticket, a delicious entrée, along with free valet and/or self-parking. For additional information, visit www.stlrealtors.com or call 314.576.0033 ext. 304. See installation reservation form on page 5.
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Legislative Report SLAR vs. City of Ferguson Heard in MO Supreme Court On September 14, 2011, SLAR Legal Counsel Steve Murphy presented oral arguments at the Missouri Supreme Court on behalf of the St. Louis Association of REALTORS® in the case of SLAR vs. City of Ferguson. The case was originally brought on behalf of a SLAR member who owned rental property in Ferguson in order to challenge a Ferguson ordinance- which requires landlords to be licensed, to have a property manager who lives within 25 miles of the property, to state whether a tenant is a registered sex offender or should be, and other onerous requirements. During the course of the case, the member’s property was sold. SLAR decided it would move forward with the case as an association. In late 2010, the trial court ruled that SLAR did not have standing to file suit because it did not own property in the City of Ferguson and did not meet the standards for bringing suit on behalf of its members. SLAR appealed the case and the Appeals Court also decided 2-1 that SLAR did not have standing to bring the suit on behalf of its members. The dissenting judge recommended the case be heard in the Supreme Court. The high court agreed to hear the case. Briefs were filed by SLAR and the City of Ferguson. An amicus curiae brief was filed in support of SLAR by the Missouri Association of REALTORS®, the Missouri Society of Association Executives and the Missouri School Board Association. An amicus curiae brief was filed in support of Ferguson by the Missouri Municipal League. A decision on whether our association has standing to bring a suit on behalf of its membership is expected by the end of the year.
Mortgage Interest Deduction Under Attack Once Again President Obama’s latest Jobs Bill proposal includes provisions for limiting the Mortgage Interest Deduction as a way to pay for new spending. This has been a consistent theme in proposals coming out of the Administration since 2009. NAR is concerned that the MID will also be targeted by the Joint Committee on Deficit Reduction (or the Super-Committee as it has been called in the press). So far, your voice has been heard in Washington, DC, through your responses to Calls for Action, your NAR Government Affairs team, and your RPAC dollars. It is essential that we remain vigilant on this important issue!
Podcast: FTC MAP Rule – Check this Out! (Aug. 31) Tom Pahl of the Federal Trade Commission discusses how the Mortgage Acts and Practices (MAP) rule will affect real estate professionals who provide information to consumers about mortgage products. This new rule, which took effect on August 19, prohibits dissemination of false or misleading mortgage product information and also will require REALTORS® to keep records for 2 years on any communication they have with consumers about mortgage products. As defined by the new rule, a mortgage product is a loan that is secured by real property and is extended primarily for personal purposes. Examples of this type of loan would include a home purchase or home improvement loan, a home equity line of credit or a reverse mortgage. Loans used primarily for business or commercial purposes are NOT included in the definition. Examples of records that should be kept include: handouts/rate sheets given at open houses or other marketing materials that include loan information; electronic communications such as e-mails, text messages and Facebook® messages; phone communication and in-person communication. Click on the link below to hear Mr. Pahl’s podcast: http://www.realtor.org/letterlw.nsf/pages/legalaffairspodcast?opendocument
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REALTORS® Call on White House to Hold Housing Summit Washington, August 23, 2011 To help develop policies that will stabilize the nation’s housing market and support an economic recovery, the National Association of Realtors® urges the White House to host a summit of policy makers, industry leaders and government stake holders focused on revitalizing the nation’s housing. “As the leading advocate for housing issues, Realtors® know that home ownership supports our nation’s economy,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “Housing and home ownership issues affect all Americans, which is why we need strong policies that will help stabilize the housing market and lead the way out of today’s economic struggles.” A housing recovery is key to America’s economic strength, and NAR wants to make sure that proposed legislation and regulatory rules or changes to current programs and incentives don’t further exacerbate problems within fragile real estate markets across the country. A broad discussion among all stakeholders about what needs to be done to put the housing market and economy on a path to recovery could provide valuable recommendations and solutions to promote responsible, sustainable home ownership and stabilize and revitalize the housing industry and economy. “Realtors® look forward to coming together and working with President Obama and his administration as well as our industry partners to design a housing recovery plan that will serve our nation, its 75 million home owners and indeed all Americans today and into the future,” said Phipps.
Bank of America Reaches Out to NAR Rumors had been circulating for weeks that Bank of America (BoA) was planning to exit the correspondent mortgage lending business. On August 31, 2011, BoA confirmed this announcement and immediately requested a conference call with NAR Leadership. The purpose of the call was to provide information to NAR regarding BoA’s decision to leave this line of business, outline its next steps and to assure NAR that the bank will continue to be a driving force in the home lending business. During the call, BoA confirmed that it will be exiting the correspondent mortgage lending business and intends to sell the division to another suitor. The Bank said it was a strategic, customer-driven decision to provide consumers with a more positive home lending experience in addition to providing higher servicing standards. BoA believes that the decision will bring more value to existing and future customers and will support growth across the Banks brand. Though Correspondent lending currently makes up 50% of the Banks origination activities, the Bank will focus on bolstering origination volume through its direct-to-consumer mortgage business. BoA noted that it has already reduced the number of its correspondent lenders since its acquisition of Countrywide and that 95% of the Bank’s correspondents have relationships with other lending institutions thereby reducing the impact to consumers. BoA’s correspondent lending operations will continue until the division is sold or the decision is made to wind down the correspondent division. The Bank will provide notice of their decision along with plans for an orderly transition at that time. BoA thanked their correspondent partners and assured NAR that they will continue to fully participate in the home lending business. Moving forward, BoA will continue to consult with NAR leaders as the Bank strategically adapts their business model.
St. Louis’ #1 Mortgage Bank A Better Way to Buy a Home!
Mark Cooper
Mark Mihal
Branch Manager (Creve Coeur) 314-628-2191
Branch Manager (St. Louis County) 314-373-1500
Tracey Rohlfing
Hamid Hamrah
Branch Manager (O’Fallon) 314-307-2825
Branch Manager (Old Town St. Charles) 636-757-6000
Doug Schukar President / CEO 12140 Woodcrest Executive Dr. St. Louis, MO 63141 314-628-2000
Tom Sinak
John Farmer
Branch Manager (Arnold) 314-494-1215
Branch Manager (Kirkwood) 314-985-0137
Ron Mueller
Sean Zalmanoff
Branch Manager (City Place) 314-628-2055
Branch Manager (St. Louis City) 314-361-9979
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RPAC Mini Golf On September 9th 40 REALTORS® and SLAR Affiliates met at Tower Tee for the last RPAC event of the year. The rain stopped just in time for us to enjoy an evening on the puttputt course whose holes featured several St. Louis and other metropolitan landmarks in miniature. Our generous hole sponsors kept things interesting out on the course with holein-one contests from Northwest Title and MetLife Reverse Mortgage, margaritas from HouseMaster, giveaways from MoKan Title, and even a Happy Gilmore-inspired putting competition put together by Midwest Mortgage Capital. The fun continued under the pavilion where our food sponsor, Cardinal Surveying’s Shelly Clark, grilled the hot dogs and brats. Attendees enjoyed a relaxing evening of delicious snacks, cold beer, miniature golf, and mingling. SLAR would like to thank all of our sponsors and attendees. Your investments in RPAC are essential to our efforts to protect property rights and the real estate business in St. Louis. A special thanks to Shelly Clark and Cardinal Surveying for sponsoring the food. Thanks also to all of our hole and scorecard sponsors who made the evening so much fun: USA Mortgage (Stephanie Todd), Northwest Title (Emily Walker), Midwest Mortgage Capitol (Mark Lange), MoKan Title (Laura Montroy), House Master (Deryck Whiteley, Wes Villhard), MetLife Reverse Mortgage (Dennis Cooper), American Eagle Credit Union (Danielle Bond), First State Bank (Bob Sargent), MassMutual Financial Group (Nicholette Booker).
Deryck Whiteley and Wes Villhard were popular at Hole# 12 with their Margarita giveaway
Hole sponsor Emily Walker (Northwest Title) hands out prizes at hole #5
CGB agents Sue Middendorf, Toni Bilicki, and Letty and Luis Cantu take a break from a fierce putting match to smile for the camera
Hole sponsors Laura Montroy, Brooke Barry and Sommer Barry of MoKan Title pose with Phil the Gorilla
Food sponsor Shelly Clark (Cardinal Surveying) mans the grill with son Tyler
Hole sponsor Danielle Bond (American Eagle Credit Union) poses with her sign at hole #14
Sandy Hancock (RE/MAX Results) poses with the Kennelwood Dog with husband Dan and grandson Connor
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Urban Affairs Visits Botanical Grove On September 1, the Urban Affairs Committee visited the Botanical Grove Development in the Botanical Heights neighborhood. 17th Ward Alderman Joseph Roddy opened the meeting with a presentation on the challenges of city living and economic development in the 17th Ward.* Alderman Roddy was a huge friend to the Botanical Grove project and he shared insights on how similar developments have the potential to improve ailing neighborhoods in St. Louis City by improving population density, economic opportunity, and safety. The leaders at Urban Improvement Construction and Central Design Office (UIC+CDO) then shared a glimpse of the new Botanical Grove development with the group of 30 REALTORS® in attendance. The project features a group of new and renovated LEED certified homes within the 4200 block of McRee. The developers aim to create a modern, urban, walkable community. The Botanical Grove development is unique for several reasons. The green elements that will be incorporated into every home are very on-trend but are something new for this particular area of St. Louis. In addition, the mix of restoration and new construction presents a unique canvas for a growing neighborhood that - like most St. Louis neighborhoods that thrived in the early 20th Century – is recovering from years of decline. The developers are modernizing while simultaneously focusing on preservation. In addition to residential housing, the development will include a corner café/wine bar and will feature the new home of the City Garden Montessori Charter School at 1618 Tower Grove. After the meeting, committee members toured the display homes. The Urban Affairs Committee would like to thank the
UIC+CDO team - Chris Hulse, Sarah Gibson, and Brent Crittenden – for hosting the meeting. We would also like to thank Alderman Roddy for his participation. Finally, thank you to Harry Hilburg of Bank of America for sponsoring breakfast at the meeting. Urban Affairs is an open committee. If you are interested in joining us at one of our fun and engaging monthly meetings, please contact Ali Pauluhn in the Governmental Affairs Department at apauluhn@stlrealtors.com. See you next month! *At the time of publishing, this portion of McRee is no longer located in the 17th Ward due to Ward boundary changes. The development is currently located in the 19th Ward.
Alderman Joseph Roddy talks about the 17th Ward
Brent Crittenden with UIC+CDO gives a presentation on the Botanical Grove Development.
Mold Testing and Consulting Remediation Plan Design Comprehensive Report Generation Post-Remediation Clearance Testing
Patsy Duncan CMR, CIEC Certified Mold Remediator Certified Indoor Environmental Consultant Email: patsyduncan@centurylink.net www.fungusamungusonline.com
(636) 294-0651 Visit us at Facebook, Linkedin or Twitter
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SLAR Leadership Meets With Representative Russ Carnahan On August 25, 2011, SLAR Leadership had the opportunity to meet with Representative Russ Carnahan (D, MO-3rd District), to discuss issues important to the real estate industry. The conversation was led by Carole Baras, the Federal Political Coordinator assigned to Congressman Carnahan. The hour-long discussion included items such as the expiration of the National Flood Insurance Program on Sept. 30, the expiration of the current FHA and GSE loan limits, also on Sept. 30, tight lending policies in both the residential and com-
mercial markets, status of the commercial market in general, appraisal issues, protecting the Mortgage Interest Deduction, and removing the 20% down requirement from the Qualified Residential Mortgage policy. Conversations such as these are just one of the ways SLAR, MAR and NAR are working to protect your business. Through RPAC, YOU have the power to re-elect legislators who support REALTOR速 issues. Please consider investing in RPAC as part of your dues payment this year. Thank You!!
L to R: Immediate Past President Letty DeMay, 2011 President Nate Johnson, Federal Political Coordinator Carole Baras, EVP/ CEO Fred Kratky, Rep. Russ Carnahan, Governmental Affairs Director Celeste Rueter, 2012 President-Elect Donna Zerega, 2011 Commercial Division President David Morris.
SLAR Leadership along with Federal Political Coordinator, Carole Baras, met with Congressman Russ Carnahan (D-MO, 3rd), to discuss important issues in the real estate industry.
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Fannie, Freddie May Hike Fees in 2012 In overhauling Fannie Mae and Freddie Mac, the government may require more private mortgage insurance from borrowers and charge lenders higher fees to guarantee loans--moves that could increase borrowing costs, Edward DeMarco, acting director of the Federal Housing Finance Agency, said this week at a mortgage conference in Raleigh, N.C. Such steps are aimed at making the mortgage market more competitive and trim costs to the federal government by $28 billion over 10 years. The government-sponsored enterprises buy loans from lenders and package them into securities that are then sold to investors. The GSEs charge a “guarantee fee” when they buy mortgages, a fee likely to be raised in 2012.
The increase could lead to a modest increase to mortgage borrowers. “Increasing the guarantee fees by 0.1 percentage point, as the White House proposed, would raise the monthly cost of a $220,000 mortgage by about $15,” The Wall Street Journal article notes. Fannie and Freddie may also require borrowers to hold more private mortgage insurance to lessen the risks on taxpayers. The federal government took over the GSEs in 2008. Any changes would be made “gradually” to avoid harming the already fragile housing market, DeMarco said. Source: “Fannie, Freddie to Raise Fees,” The Wall Street Journal (Sept. 19, 2011) and “Mortgage Finance Head: Shift Risk From Treasury,” Associated Press (Sept. 19. 2011); Daily Real Estate News | Tuesday, September 20, 2011
Use e-Mail to Follow Up and Increase Sales E-mail is great for staying in touch with customers and prospects. It’s almost free compared to mailing letters and postcards. E-mail is also far less time-consuming (and perhaps more efficient) than trying to reach customers and prospects by telephone. Send out regular messages to stay in contact. Most sales are dependent on repeated contact. High-ticket items and services almost always need multiple contacts to sell. Advertising wisdom on this ranges from “The Rule of 7” (you need to hit your prospect with your sales message seven time before she buys) to the old saying, “the first ad never sells anything.” How do you stay in e-mail contact with customers and prospects without becoming a pest? People like informative newsletters (such as the Housing Trends eNews-
letter), short tip sheets, friendly notes, and announcements of special offers. Read an article you think would be appreciated by your clients? Ask the author if you can share the article with your contact list. Most authors don’t mind a bit if you use their article as long as you include their contact info at the end. Kevin Nunley has been a top writer of sales letters, Website copy, press releases and ads since 1996. His talent and experience gets YOU results! Order his affordable writing and promotion deals at http://DrNunley.com. ©2011, Kevin Nunley. All rights reserved. FrogPond offers you FREE 1 Minute Housing Market Report. Agents Sign Up HERE for your personalized e-Newsletter.
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Welcome New Members
DESIGNATED REALTOR®: Leah A. Laster, Leah A. Laster Greg Yawitz, Keat Properties, LLC Matthew Dunaway, Tarlton Realty, LLC Carole A. Bruening, Prodigy One Investment RE Treda R. Nicks-Lardge, TNL Properties Plus Christopher Rosenthal, Rosenthal Rentals
DESIGNATED REALTOR® (Previously REALTOR®):
Douglas E. Pope, Discovery Group, LLC
Tracy M. Crisp, Crisp Properties and Investments, Inc.
William Wason, Pillar to Post Home Inspections
Christopher R. Fox, Gateway Commercial, LLC,
Mark Engel, Advanced Radon Control, LLC
Steven J. Tharpe, Colliers International
Jeff Griege, Paramount Mortgage Company
REALTOR®
Dan Sandweg, Inspections Complete, LLC
Edward B. Greenberg, Garden Real Estate Co.
Tasha Schriewer, Liberty Mutual
(Previously REALTOR® ASSOCIATE):
Robert S. Nation, Wildhorse Realty, LLC
Deryck Whiteley, HouseMaster
Riahna C. Weakley Meyer, St. Louis Real Estate Society
Wesley G. Villhard, HouseMaster
Michelle S. Silies, Preservation Real Estate Advisors, LLC
COMPANY NAME CHANGE:
AFFILIATE:
Kenneth Eckardt, Eckardt Realty Group, LLC
(Previously Prestiege Properties of St. Louis, LLC)
Jacqueline White, Turner White and Associates
Corey Adams, Select Property Exchange, LLC
Orlando B. Crisp, Crisp Properties & Investments, LLC
Matthew Hoernis, Advantage Pest Control Solutions
DESIGNATED REALTOR® (Previously REALTOR® ASSOCIATE):
Vanessa Randolph, Wells Fargo Home Mortgage
C. Kevin Gallagher, Gateway Commercial, LLC
Mike Wolverton, Wells Fargo Home Mortgage
Tim Clark, BPG/ABA Inspections and Consulting
Gavin M. Holohan, Bloom Brokers, LLC
John Bean, BPG/ABA Inspections & Consulting
Dennis J. Lineberger, Dennis Lineberger Realty Co.
Joseph Cawein, BPG/ABA Inspections & Consulting
Christine M. Runion, Realty Rover, LLC
Michael V. Roberts, Jr., iRealty Firm, LLC,
Thomas Heyl, BPG/ABA Inspections & Consulting
Talitha M. Weiss, Stone Realty, LLC
Tom Reichardt, Insight Title Company
REALTOR®
Rachel Rufkahr, Paramount Bond & Mortgage
(Previously DESIGNATED REALTOR®):
Jeffrey T. Zornes, Zornesway, LLC
Robert Sargent, First State Bank Mortgage
Sandra Jackson, Jackson Properties Realty, LLC (Previously Jackson Properties Plus, LLC)
Roland R. Bauer, III, Father Time Auctions and Real Estate (Previously Father Time Auctions)
(Previously ABA Inspection Services)
(Previously Christine Marie Runion)
Joseph C. Hughes, JCH Realty (Previously Joseph C. Hughes)
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The Secrets of Effective Blogging Is your blogging consistent? Are you targeting the appropriate audience? Follow this checklist to ensure your blogging voice is heard. A real estate blog is a strategic asset, provided it’s well thought out and planned. Here are some guiding considerations to help make yours an effective addition to your marketing efforts. Target:As a blogger, you need to decide whom you want to reach and why. Define your audience by where they live or want to buy, the type of property that interests them, or some shared demographic characteristic like first-time home buyers or relocating retirees. Focus:With that audience in mind, approach your blog as the source of information they need that you’re the best qualified to provide. Use graphics and widgets to reinforce the overall theme and value of the blog. Provide links to other resources your readers may value. Keep posts on topic, within reason. Voice:A blog, by intent, is a forum for expressing yourself and letting readers know who you are. Some of your personality should come through in the form of personal insights into real estate trends, observations and occasional glimpses into your life or what matters to you.
Consistency:Before you start, commit the time to make this work. Depending on the type of blog, new entries should be posted at least monthly. Ideally, you’ll make updates every few days. Figure each post requires an hour of time, on average. The more you post, the more people have reason to return to your blog. Content:If you don’t have a flair for writing, coming up with topics to blog about may seem intimidating. Again, think as your audience: Approach the blog as building a book of useful real estate information, one page at a time. When stuck for ideas, search the day’s news and events for subjects you can somehow make relevant to your audience. And, keep things relatively short: The ideal length for a blog post is around 500 words. Optimize:Some sensitivity to keywords, as they relate to the interest of your audience, can help with search engine placement and attract more readers. That said, don’t write for search engines. Posting consistently on a specific topic will do the most to make your blog a credible resource, and eventually attract your audience. Promote:After you’ve found your audience and posted reams of entries, the blog will promote itself. Early on, though, you need to let people know why they should check it out. Promote it through your social networks and in your marketing materials. Comment on other related blogs with links back to yours. If you’ve done a good job, readers will find reasons to return and to tell others about it. Source: REALTOR®Mag July 2011
REALTOR® Report
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Using Cameras as a Safety Tool: A Legal Perspective
Your computer’s camera may be an effective tool for thwarting criminals, but know the legal boundaries of video surveillance. Encountering complete strangers is a daily event for many real estate practitioners. This is especially true at open houses, where people are able to come in and out of the property without any prior relationship or introduction. Thankfully, there are ways you can create a safer and more secure working environment during open houses. Using easy and inexpensive technology—a laptop computer with a video camera or digital monitoring system—you can potentially ward off intruders with bad intentions and capture criminal activity. Keep the following things in mind, though, before adding video surveillance technology to your arsenal of safety tools:
Obtain the owner’s consent. Get the property owner’s
written permission before you set up video surveillance.
Disclosure. A sign should be clearly posted informing
anyone entering the property that video surveillance is being conducted. Those who choose to enter the property after being provided such notice are giving their implied consent.
person has a reasonable expectation of privacy, which would prevent your conducting video surveillance in a private area, such as a bathroom. Make sure your strategy does not overstep these boundaries.
Check local and state laws. Laws on video surveillance differ. Do your research, or contact a lawyer that specializes in this topic. Many practitioners are already using their computer’s video capabilities to shoot short introductory or educational videos for prospects. Why not make the technology your ally in the daily practice of staying safe on the job? Authored by Lesley Walker, a staff attorney with the NATIONAL ASSOCIATION OF REALTORS®. Source: REALTOR® Mag September 2011
Privacy Concerns. The law generally recognizes that a
$AVE WITH THE ASSOCIATION REVENUE TRACK (ART) PROGRAM! Attention SLAR members- take advantage of the National Association of REALTORS® (NAR) ART program and save 10% on your next shopping trip to NAR’s REALTOR® Store- www.REALTOR.org/ Store! It s easy- simply enter the Promotional Discount Code SLA2 with each order and receive an automatic 10% discount! And that’s not all! ART is a win-win for the St. Louis Association of REALTORS® (SLAR) as well! Each time SLAR members purchase a NAR product or publication using the Promotional Discount Code- SLA2, the Association will earn 10 -14% NON-DUES REVENUE! So help us all win big with extraordinary savings- use your ART Promotional Discount Code SLA2 on your next visit to the www.REALTOR.org/Store! For questions and additional information, contact SLAR’s P.R. Department at 314.576.0033.
REALTOR速 Report
RESALE (EXISTING) HOME SALES St. Louis City/County August
Under 29999 30000 - 39999 40000 - 49999 50000 - 59999 60000 - 69999 70000 - 79999 80000 - 89999 90000 - 99999 100000 - 119999 120000 - 139999 140000 - 159999 160000 - 179999 180000 - 199999 200000 - 249999 250000 - 299999 300000 - 349999 350000 - 399999 400000 - 449999 450000 - 499999 500,000 - 749,999 750000 - 999999 1000000 - 1249999 1250000 - 1499999 1500000 - 1999999 2000000 - 2999999 3000000 and over Totals
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SLAR Sold Stats
Single-Family Units
Condominium/Cooperatives
Number of Bedrooms 2 or 3 4+ less 88 87 12 16 32 10 11 18 7 5 17 8 11 18 4 14 16 3 14 19 6 18 22 5 20 33 7 24 38 11 14 38 16 13 37 17 4 30 16 2 39 46 2 17 50 0 17 31 1 11 33 5 21 4 19 4 40 1 16 0 1 4 0 1 257 503 384
Number of Bedrooms 2 or 3 4+ Total less 7 1 8 3 3 5 5 5 1 6 4 2 1 7 7 1 8 5 2 7 8 1 9 12 5 1 18 19 6 25 10 5 15 12 2 14 5 5 10 7 8 2 17 6 3 9 3 3 6 0 2 1 3 1 0 1 0 1 1 1 2 1 4 0 0 1 1 1 1 2 1 1 2 1 3 0 0 0 0 121 53 9 183
Total 187 58 36 30 33 33 39 45 60 73 68 67 50 87 69 48 45 26 23 44 17 0 1 4 0 1 1144
2009 - 2011 Average Price and Homes Sold |
Active Listings (includes all unsold homes) Single-Family Condo/Co-op Listings Listings End of Month End of Month 138 2 39 2 44 6 58 13 64 12 74 13 47 15 61 6 102 26 112 34 96 17 94 26 53 17 118 23 86 13 50 18 45 10 22 1 21 10 51 7 13 1 7 0 9 0 8 0 3 1 0 0 1415 273
Sales Pending (Under Contract) Single-Family Listings End of Month 88 39 27 11 18 22 18 18 35 39 42 32 20 40 26 14 8 10 11 14 5 2 5 2 0 1 547
Condo/Co-op Listings End of Month 4 1 4 6 1 3 2 2 5 8 1 2 3 5 3 2 1 0 0 0 3 0 0 0 0 0 56
Area 1-349 Residential, condo/cluster Coop
2009 Month Jan Feb Mar Apr May Jun Jul Aug Sep
2010 Average Price Homes Sold Median Price Month $149,471 823 $93,500 Jan $139,404 899 $101,000 Feb $162,192 1117 $112,900 Mar $161,522 1196 $124,400 Apr $178,771 1441 $135,000 May $192,295 1612 $152,900 Jun $188,309 1689 $145,000 Jul $177,110 1412 $133,950 Aug $176,712 1448 $138,250 Sep
2011 Average Price Homes Sold Median Price Month $161,133 702 $115,000 Jan $161,133 867 $109,000 Feb $161,133 1354 $132,000 Mar $161,133 1484 $134,950 Apr $161,133 1741 $145,000 May $161,133 1511 $165,000 Jun $197,225 1035 $145,000 Jul $182,918 1045 $135,000 Aug $183,892 1057 $127,500 Sep
Oct
$166,241
1617
$133,000
Oct
$180,930
976
$117,325
Oct
Nov
$165,855
1504
$130,250
Nov
$175,938
913
$123,625
Nov
Dec
$174,398
994
$125,500
Dec
$181,462
1005
$128,900
Dec
$169,357
15752
$131,625
$172,430
13690
$130,450
Average Price $162,201 $173,312 $156,720 $180,359 $183,562 $194,131 $192,528 $188,043
Homes Sold 696 746 1086 1058 1243 1538 1202 1327
Median Price $106,000 $119,000 $110,000 $129,450 $133,600 $137,250 $142,125 $134,000
$178,857
8896
$131,525
Pending 524 577 726 811 642 633 609 603
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REALTOR® Report
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Calendar of Events October
November
December
6
WCR Luncheon Frontenac Hilton
4
Residential Installation Chase Park Plaza
1
WCR Luncheon Frontenac Hilton
10
Columbus Day SLAR Closed
4
WCR Luncheon Frontenac Hilton
23
Christmas SLAR Closed
19
Broker By-laws Meeting SLAR Classrooms
9-11 NAR Conference Anaheim, CA 11
Veterans Day
24-25 Thanksgiving Holiday SLAR Closed
Conference Center Events OCTOBER 13-14 GRI-401 & 401 SLAR Conference Center Click here for details
18 Unlock the secret of surviving this market SLAR Conference Center Click here for details
ATTENTION SLAR MEMBERS- AN IMPORTANT DUES UPDATE! In December, you will receive your yearly dues invoice from the St. Louis Association of REALTORS®. Please be aware that this year’s invoice will include a $40 assessment for the National Association of REALTORS’® “My REALTOR® Party Initiative” along with a $29 increase for the Missouri Association of REALTORS’® “Balance Budget Initiative”. If you have any questions, please contact NAR at 1.800.874.6500 and/or MAR at 1.800.403.0101.
OCTOBER 4 - OCTOBER 31, 2010
Homes from Missouri & Illinois DETAILS ON THIS PROPERTY Page 3
Your Audience, Your Customer, Your Lead Generation Tool! The St. Louis Market’s Largest Monthly Real Estate Publication
For more information call your Real Estate Account Executive at 314-744-5726 today.
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