Page 1

St. Louis Association of

REALTORS®

Spring 2016

What’s your niche?

The Voice for Real Estate in St. Louis

Volume 12 - Number 1


Staff Directory 2016 Board of Directors Executive Committee

REALTOR® Directors:

Sandy Hancock, President Barry Upchurch, President-Elect Buddy Wood, Vice President/Treasurer Edwina Conley, Secretary Jeff Bosch, Member-at-Large Janet Judd, Immediate Past President Ben Cahill, Commercial Division President John R. Gormley, Chief Executive Officer

Term Ends 2016

Term Ends 2017

Term Ends 2017

Edwina Conley Tom Kennedy David Townsend Glenn Vatterott

Jeff Bosch Jill Butler Angie Ignatowski Suzi Mattus

Barb Keathley Luan Meredith Michelle Syberg John Powel Walsh

National Association of REALTORS® Directors

REALTOR® Associate Directors:

Sandy Hancock (Board President) Barry Upchurch (Board President-Elect) Letty DeMay (Director)

Katherine Berry

Glenn Vatterott (Large Firm Representative) Bruce Aydt (Distinguished Service Award)

St. Louis Association of REALTORS® Staff Executive Department

Sharon Hutson

Marc Levinson

Affiliate Director Rebecca Meier

St. Louis Association of Membership and Finance

John R. Gormley, RCE, CAE, CIPS Chief Executive Officer jgormley@stlrealtors.com | 314.576.0033 Tina Stork, Executive Assistant tstork@stlrealtors.com | 314.576.0033

Rick Capelli, Chief Financial Officer rcapelli@stlrealtors.com | Direct Line: 314.590.2313

Judy Partsch, Membership Specialist/REALTOR® Shoppe jpartsch@stlrealtors.com | 314.576.0033 ext. 320

Legislative Department Martina Johnson, Government Affairs Director mjohnson@stlrealtors.com | Direct Line: 314.590.2309

REALTORS

Molly White, Political Fundraising & Community Relations Coordinator mwhite@stlrealtors.com | 314.576.0033 ext. 310

Professional Development

Emily Whitlock, Lead Member Specialist ewhitlock@stlrealtors.com | 314.576.0033 ext. 339 Monica Alsup, SUPRA Administrator malsup@stlrealtors.com | 314.576.0033 ext. 315

®

Jessica Perez, Finance & Member Services Assistant jperez@stlrealtors.com | 314.576.0033 ext. 314

Marketing, Communications, and Public Relations

Karen Dunn, Director of Professional Development kdunn@stlrealtors.com | Direct Line: 314.590.2312 Monica Wilson, Professional Development Coordinator mwilson@stlrealtors.com | Direct Line: 314.275.7888 Jessica Prater, Administrative Assistant jprater@stlrealtors.com | 314.576.0033

Candice Coleman, Director of Marketing & Communications ccoleman@stlrealtors.com | 314.576.0033 ext. 304 Cuc Le, Marketing Specialist cucle@stlrealtors.com | 314.576.0033 ext. 301

Commercial Division

Professional Standards Tracey D. Yost, Director of Professional Standards/Contracts & Forms Liaison tyost@stlrealtors.com | Direct Line: 314.590.2305

Margo Colestock, Manager of Commercial Services & Events ccoleman@stlrealtors.com | 314.576.0033 ext. 304 For advertising information or to submit articles for consideration in the REALTOR® Report, please contact the Marketing Department at communications@stlrealtors.com or 314.576.0033.

Mid-America Regional Information Systems (MARIS) 1714 Deer Tracks Trail, Suite 200 | St. Louis, MO 63131 | 314.984.9111| www.marisnet.com Paul Prince, President pprince@marisnet.com Denise Bielicke, Vice President Operations dbielicke@marisnet.com Carroll Morrow, Membership Coordinator cmorrow@marisnet.com Brad Whitrock, Support Specialist bwhitrock@marisnet.com

Hannah Lang, Marketing & Communications Specialist hlang@marisnet.com Randi Marie Penny, Member Services Coordinator rmpenny@marisnet.com David Price, Senior Vice President & Systems Manager dprice@marisnet.com

Katie Otto, Vice President Member Services kotto@marisnet.com Jason A. Darrough, Support Manager jdarroug@marisnet.com Tabitha McDuffie, Accounting Coordinator tmcduffie@marisnet.com Debi Peel, Compliance and Membership Coordinator dpeel@marisnet.com


New Program Positions You as the Expert

6

Three Tech Tools You Should Absolutely Use St. Louis’ TRID Report Card

Around the Industry

10

Got Ethics?

Legislative Report

It’s a Big, Big World

Stats

14

16

Events

4 6 7 8 10 11 12 14 16 19

TABLE OF CONTENTS

From the President

3 | Spring 2016 — REALTOR® Report


FROM THE PRESIDENT Did you know the St. Louis Association of REALTORS® is comprised of 7,500+ members AND we add on average more than 1,000 new members every year? While our average agent is 55 years old, we have many members under 30. Geographically, we represent every part of St. Louis City and County, St. Charles County, Jefferson County and even other states! See where our members are: www.stlrealtors.com/map. Just like any association, our members have a lot in common. We are all linked by our desire to serve the public through property ownership. We honor the Code of Ethics and advocate for the protection of real property rights. We also have very different needs and interests. Some of our members specialize in land, while others handle city lofts. Each of us is unique! The goal of the St. Louis Association of REALTORS® is to provide value to each and every member. A great way to find out what’s happening at the association is to follow association news and events on THE LANDING. This is a place to communicate and network with other REALTORS®. Visit the THE LANDING at thelanding.missourirealtor.org/communities/mycommunities. Sandy Hancock is the 2016 I’m often asked how a member can get involved. We have committees, forums, task forces and councils. Some of these are filled through an application process, but many are open to everyone. Here are some groups and events that may interest you.

Urban Affairs Urban Affairs is a group of St. Louis REALTORS® who are interested in real estate in the city of St. Louis. This group meets the first Thursday of every even month. The next meeting is Thursday, April 7, from 9-10:30 a.m. at Bank of America, 800 Market Street, 63101. Join them as they discuss Gateway Arch renovations. All members are invited to attend forum events designed to promote the benefits of living in St. Louis. Register today at www.stlrealtors.com/get-involved/urban-affairs.

Women’s Council of REALTORS® WCR is dedicated to providing education, networking and leadership opportunities for its members. WCR holds a luncheon EVERY month at Spazio’s, 12031 Lackland Road, 63146, from 11a.m.-1 p.m. For more information, visit www.wcrstl.com. Some upcoming topics include: • • •

April 7 - Secrets of the Top 1% – The habits and mindset of top sales people May 5 – Beauty, Brains and Brawn - Life strategies on looking your best, feeling your best and keeping a positive outlook June 2 – Designed to Sell! – Improve your staging and photos to get your listings SOLD FAST

Young Professionals Network YPN is a group of agents who are young or just young at heart! They sponsor networking and educational activities around the city and help professionals excel in the real estate industry. Look

President of the St. Louis Association of REALTORS®. Contact her at sandy@sandysellshomes.com.

for their 30 Under 30 and other great events throughout the year. You can find them online at www.facebook.com/ypnstl.

Community Engagement This is a new committee that engages in meaningful projects and programs to make a visible difference in our communities and neighborhoods. We are excited to announce a partnership with Rebuilding Together St. Louis to help renovate two homes in the Normandy School District. The workday will be April 30. Look for upcoming announcements on MARIS and www.stlrealtors.com. Even if you are not handy with a hammer, you can help out! Our REALTORS® Housing Assistance Fund raised $20,000 for materials and supplies. It will take ALL of us to make this a success!

Broker Forum The Broker Forum is a group representing 1,300+ brokers and company owners who provide programs of interest and benefit to the association’s broker members. It’s a great place to network and learn about the tools and topics relevant to running a real estate business. The first meeting is April 25 from 9-11 a.m.

Inclusion Advisory Group This group focuses on helping members become more competent and aware on issues surrounding diversity and inclusion. The annual EHOC (Equal Housing and Opportunity Council) conference is April 8 at the Ferguson Community Center. Nate Johnson and other great speakers will instruct a class on Fair Housing, followed by a networking happy hour and dinner for EHOC Open Door Award recipients. Register at www.ehocstl.org/ ra-conference.


COM M ENGA UNIT Y GEM ENT

BROKER FORUM

MVOA

MR Director

MO REALTORS®

WCR AN B R U AIRS AFF

IAG

YPN

RPA C

REALTORS® Political Action Committee

Missouri REALTORS®

RPAC is a fundraising group whose goal is to raise funds in support of homeownership issues and real property rights. We have two exciting events coming up. April 1 is our annual Trivia Night at our association offices, 12777 Olive Blvd, 63141. Put your table together and register at www.stlrealtors.com/ trivianight if it’s not too late. And don’t miss RPAC’s June 9 auction! Not only is it a blast, there are lots of items up for bid!

Every St. Louis REALTOR® is also a member of Missouri REALTORS®. Each year the Missouri REALTORS® holds three business meetings that are free of charge to attend! The April Business Conference will be April 21-22 in St. Charles. An added event will be Commercial Day on April 20. Visit www. missourirealtors.org for more information and to register. This is a great opportunity to learn and network with agents from around the state!

Military and Veterans Outreach Alliance Formerly the MRP Alumni Group, MVOA is open to St. Louis REALTORS® who have earned the NAR Military Relocation Professional Certification, REALTOR® Veterans, military spouses and Gold and Blue Star family members who want to participate in events that support military and veterans. The mission of the Military & Veterans Outreach Alliance is to establish and foster the recognition, support and gratitude of St. Louis, Missouri’s veterans and men and women of our Armed Forces and their families. To get involved, contact Bryan Bergians at bryan.bergjans@navy.mil.

Become a Missouri Director Many of you will attend the Missouri REALTORS® Business Conference and want to get more involved! You can apply to become a Missouri director representing the St. Louis Association of REALTORS®. This is a two-year commitment to attend all three meetings in January, April and September of each year. The meetings are held at various locations throughout the state. Stipends are paid to each director to help offset travel costs. Apply at www.stlrealtors.com/get-involved/ mrdirector.

By participating with other REALTORS®, you’ll learn more, meet great people and build your business. See you on THE LANDING or at our next event!


New Program Positions YOU as the Expert

Housing Report For St. Louis City and County

January 2016 Median home price:

$144,900

up 9% Compared to $133,000 in January 2015

63%

were $199,999 or less

24%

were $200,000 - $499,999

12%

were $500,000 or more

All comparisons for same month year-over-year

5,976 active listings

Months of inventory

down 5%

5.7 ( )

Compared to 6,291 in January 2015

Compared to 7.5 in January 2015

Days on market

1,040 single family

126 ( )

up 23%

Compared to 180 in January 2015

Compared to 846 in January 2015

Data used in this report courtesy of MARIS. View online at: http://www.stlrealtors.com/housing-report.

6 | Spring 2016 — REALTOR® Report

homes sold

In February, we launched the St. Louis Association of REALTORS® Housing Report, which covers real estate sales activity for St. Louis County and City. The Housing Report will be issued mid-month of every month. Each month’s Housing Report will provide a market snapshot of Key Performance Indicators (KPIs) such as median sales price, number of homes sold and days on market – with year-over-year comparisons. Our St. Louis REALTORS® Housing Report consists of an infographic, like the one shown on the left, and corresponding news release. The first report was January 2016. As you can see on the infographic, the median sales price was up 9 percent and sales volume up 23 percent in St. Louis for January (compared to the same month the year before). On the other hand, the number of listings, days on market and housing inventory were all down. This data point to a seller’s market, but not overly so; 5.7 months of housing inventory is fairly balanced between supply and demand, with 6.5 months considered the ideal balance. Besides media, we also encourage St. Louis REALTORS® to post the infographic and disseminate the data from our Housing Report, which can be found at our website, www.stlrealtors.com/ housing-report.

Our Vision: To be the voice for real estate in greater St. Louis. This new program supports that vision. You can participate– and create your niche – by sharing the St. Louis Association of REALTORS® Housing Report each month through your SOI (sphere of influence). You’ll demonstrate that St. Louis REALTORS® – specifically YOU – know what’s happening in the market. Positioning the John R. Gormley is the Chief Executive Officer for association as the the St. Louis Association of voice and you as REALTORS®. Contact him at the expert... I call jgormley@stlrealtors.com. that a win-win!


Three Tech Tools You Should Absolutely Use Part of our mission at the St. Louis Association of REALTORS® is to provide members with superior tools. And keeping up with technology is a consistent theme for St. Louis REALTORS®. With this in mind, here are three new tech tools that you may find handy – free, included in your dues.

Tech Helpline (877-573-5608) This is a totally free member benefit offering support for hardware, software, networking and digital devices. The best part – you have the choice of contacting its friendly and knowledgeable analysts via phone, e-mail or online chat. With more than 15 years of experience troubleshooting REALTOR® tech problems, often by connecting remotely to your computer, the friendly Tech Helpline experts can literally turn a bad day into a good one. They will even advise you on hardware and software choices!

zipForm In an effort to provide tools that help facilitate transactions for REALTORS® and their clients, the National Association of REALTORS® and zipLogix are providing REALTORS® with zipForm Plus (online forms software) and zipTMS (transaction management platform). Thanks to quick action by your St. Louis Association of REALTORS® board of directors, St. Louis REALTORS® are among the first in the country to enjoy free access to this technology, which has been shaped from 20+ years of industry expertise.

Single Sign-on Your St. Louis Association of REALTORS® is working with Clareity Security, MARIS and Missouri REALTORS® to streamline members’ online services. Implementing behind-thescenes technology called single sign-on between STLRealtors.com, The Landing and zipForm, via the MARIS dashboard, will enable members to toggle back and forth among these web services without having to log in multiple times.

These new tech tools will only benefit you if you use them. So, use them! For more information, visit www.stlrealtors.com/2016benefits.

! u o y k n a h T

We would like to take this opportunity to thank Pillar to Post for its Holiday Spirits Sponsorship at the 2015 Holiday Open House.


GUEST ARTICLE Gershman Mortgage

TRID

St. Louis’ TRID Report Card

The last several months of navigating loan closings in the new TRID environment has been good for most lenders and borrowers. Still, with every regulatory change, there is a learning curve. Gershman Mortgage has identified issues that can potentially hinder the loan approval process. The following tips demonstrate how to facilitate the process under TRID.

1. Prepare your clients for the inquiries associated with loan approvals. Clients can be overwhelmed by the volume of information needed to underwrite a mortgage. It’s easy for them to get frustrated and impatient with the multiple requests for information. It is an underwriter’s job to question everything and they do. Time is of the essence when responding to requests.

2. Haste makes waste. Impress upon your clients the importance of thoroughness and accuracy when it comes to providing lenders with necessary information. Approximations and guestimations will only delay progress. 3. Communication is key. If anything about the transaction changes, it needs to be communicated promptly to everyone involved. Follow up to confirm that the new information has been received. 4. Keep a TRID rule summary sheet like the following for reference. Under most circumstances, changes to the closing disclosure within the three-day waiting period will not require a new waiting period. However, the following changes to the closing disclosure during the three-day waiting period will require a re-disclosure and reset the three-day waiting period. •

APR increases by more than 1/8 of a percent for regular loans (most fixed-rate loans) or 1/4 of a percent for irregular loans (most adjustable loans). A decrease in APR will not require a new three-day

review if it is based on changes to the interest rate or other fees.

A prepayment penalty is added, making it expensive to refinance or sell. In most cases, a prepayment penalty is not added to a loan. This could be a result from a product change. 99 percent of the loans we make do not have a prepayment penalty, therefore this does not affect many transactions.

The basic loan product changes. A client wants to switch from fixed rate to adjustable interest rate or to a loan with interest-only payments.

5. Communicate with your title companies. New regulations can sometimes put the squeeze on the team in the middle. Give title companies the information they need as quickly as possible so they have the maximum number of days to get their work done. More important, follow up to make sure the title side is moving along. 6. Consider a longer time-to-close. Early statistics show that the new TRID rules increased the time to close by 12.8 percent in November, according to an article in the NAR Economist’s Outlook. This percentage is expected to decrease as we continue to adjust to the new environment; until then, some consumers might require a 45-day lock period rather than the standard 30 days.

When it comes to buying and selling homes, Gershman Mortgage is on your team. We’re committed to working with REALTORS®, home buyers and all involved parties to ensure a positive experience for everyone. Gershman Mortgage was prepared long before the official TRID start date. This afforded us the opportunity to conduct educational seminars about TRID and prepare helpful handouts that simplify TRID’s lengthy new rules so that everyone involved continues to experience successful, on-time loan closings. If you have any questions or wish to arrange an educational seminar for your REALTOR® team, please call Gershman Mortgage at 314-889-0600.

8 | Spring 2016 — REALTOR® Report


D

Proud to be helping the real estate community open doors for homeowners.

A Leader in Residential and Commercial Financing For Over 60 Years.

Gershman_SLAR_ThankYouAd_OldBlue.indd 1

1/19/16 10:38 AM


Around the Industry

At the February meeting of the St Louis Industry Forum, we were pleased to welcome Gary Tretter with the Missouri Property Rights Coalition.

Mortgage Interest Rates of 4% - 5% Are Here to Stay Bill Emmons from the St. Louis Federal Reserve recently stated mortgage interest rates between 4-5 percent would be the “new normal” in the foreseeable future. In addition, Jim Gabel, vice president of the Mortgage Bankers Association of St Louis, revealed MBA is supporting House Bill 1650. If passed, it would prevent income-qualified seniors and disabled individuals from incurring property tax increases that exceed their previous year’s increase in Social Security benefits.

Guess Who Is Getting Engaged? Barry Upchurch, president-elect of the St Louis Association of REALTORS®, recently spoke about the association’s new Community Engagement Committee. Upchurch said the goal is for members to be more active in the communities they serve. The new committee recently met with representatives from Beyond Housing, Rebuilding Together and Community Builders Network to discuss plans for a collaborative project. John Gormley, CEO of the St. Louis Association of REALTORS®, added the organization’s newly adopted strategic plan has a strong focus on giving back to the community.

St. Charles County Had Its Record Year Last Year Mark Stallman, CEO of the St Charles County Association of REALTORS®, reported 2015 was its best year. The median price of homes rose to $190,000 and there were more than 6,000 units sold, with an average of 23 days on the market. Stallman said the St. Charles County Association of REALTORS® is working with the city of St. Charles, as well as the county, on legislation to change notification requirements for public hearings. Currently, the law requires all notices to be published for 15 days in a newspaper 10 | Spring 2016 — REALTOR® Report

of general circulation. The new legislation would change the requirement to seven days and allow it to be published online. Stallman said the association is also working to support the Ducket Creek Sanitary District’s effort to get a sewer lateral program on the ballot.

Are Title Companies the New Government Watch Dog? Wendy Cromer with Security Title, who is also past president of the Missouri Land Title Association (MLTA), recently reported the Financial Crimes Enforcement Network (FinCEN) is now requiring title companies to disclose information on cash home purchases in some high-end markets. The American Land Title Association (ALTA), on behalf of its members, sent FinCEN a letter stating the title insurance industry would rather not be involved, and regulations imposed on banks with regards to cash movement should be adequate in addressing issues involving real estate transactions. Cromer added MLTA recently presented a report on title insurance to the Department of Insurance in Jefferson City. Finally, Cromer said a proposed bill would require a licensed surveyor to create all legal descriptions. The MLTA is working to allow title companies to make minor changes to legal descriptions. She added this is not much of a concern in St. Louis, but it does come up in rural areas.

St. Louis Association of REALTORS® Wins Round One Against St. Louis County Landlord Licensing Law Martina Johnson, governmental affairs director, St Louis Association of REALTORS®, reported the association was successful in obtaining a temporary restraining order against the county, blocking implementation of the licensing ordinance. She said the next step would be to try to obtain a preliminary injunction, which would prevent implementation of the ordinance until the lawsuit filed by the association against St Louis County is resolved.


When I think of the word ETHICAL, the words upright, truthful, and morally upstanding come to mind. The dictionary has a few definitions for the word, but the one that stood out to me involved “being in accordance with the rules or standards for a right conduct or practice, especially the standards of a profession.” In 2013, the National Association of REALTORS® Code of Ethics—which spells out the professional ethical responsibility REALTORS® pledge to follow— celebrated its 100th anniversary. Just think, more than 100 years ago our founding REALTORS® foresaw the importance of this industry and drafted an ethical code that would protect the rights of those desiring to own real property. The Preamble of the Code of Ethics states, “Accepting this standard as their own, REALTORS® pledge to observe its spirit in all of their activities whether conducted personally, through associates or others or via technological means and to conduct their business in accordance with the tenants set forth.” Did you know there are 17 Articles of the Code of Ethics, 14 of which deal directly with REALTORS®’ duties to clients, customers, and the public? Article I states REALTORS® pledge to protect and promote the interests of their clients. That primary obligation is to treat all parties fairly and honestly. Of the 14 ethics complaints filed in 2015, eight of those cited a possible violation of Article I. It is your duty and obligation as REALTORS® to your clients, customers, the public and each other to continually strive to remain informed and knowledgeable on all issues that affect real estate and to share that information with your fellow REALTORS®. It should be a privilege to network and mentor others who are trying to make their mark in the real estate world. I challenge each and every one of you to familiarize yourself with the Code of Ethics and ask yourself the Tracey Yost is the Director following question: If my goal—my niche—is to be ethical to my clients and fellow REALTORS®, am I practicing all the rules and standards of conduct within my profession?

Too Few Tradesmen, Too Many Regulations Dave Forest of the Home and Builders Association reported single family stats are up 9 percent from last year, although they’re not as high as recent years. He also pointed out the number of new apartment units is approximately double the number of singlefamily residences. Forest added builders are seeing an uptick in bigger and pricier homes. Forest said one of the biggest threats to the home building industry is the lack of tradesmen or mechanics. Forest also shared in parts of the country outside of St. Louis, many of the new building codes are driven by agendas not related to health or human safety, such as conservation or green-building. For example, HAVA supply duct sealing requires all the connections in the duct work to be sealed. On a typical home in St Louis this would cost about $2,000. If all of the proposed agenda-driven building codes would be adopted, the estimated increases could cost home buyers $20,000 per house.

A Road Less Repaired Anthony Lancia, vice president of Industry Relations at AGC of Missouri, reported the AGC is continuing to promote transportation funding for the state in the form of a small gas and diesel tax. Lancia pointed out our state has the seventh largest

of Professional Standards/ Contracts & Forms Liaison for the St. Louis Association of REALTORS®. Contact her at tyost@stlrealtors.com.

road system in the country. Lancia also said the AGC is opposing proposed legislation that would affect prevailing wages.

The “Ferguson Effect” Gary Tretter of the Missouri Property Rights Coalition reported his organization is fairly new and its members are primarily investors. Tretter shared information about an Ohio court case where home inspections (required by ordinance) have been deemed a violation of the fourth amendment. Tretter said the “Ferguson effect” is going to cause municipalities to look to other areas for revenue, such as property maintenance code violations to make up for lost fine income. Tretter also reported an increase in inspection fees as many municipalities are now charging for occupancy permits. He believes we are going to see downward pressure on home prices in the lower end of the market. Also, lower-end homes are now being overtaxed since St. Louis County is not considering foreclosure sales as “comps,” despite the fact the state says it should.

Dennis Norman is the St. Louis Industry Forum Chairman and Past St. Louis Association of REALTORS® President. Contact him at dennis@ mo-re.com. 11 | Spring 2016 — REALTOR® Report


to a property owner of any residential unit that has been vacant six months or more, regardless of whether or not the property is well maintained. It also adds a clause to address chronic vacancy. This clause states any nonexempt property that has been determined vacant and in violation of the property maintenance code for a period of 2-4 years shall be subject to an additional $100-$500 fine.

Legislative Report In the Government Affairs Department at the St. Louis Association of REALTORS®, understanding how legislation will affect your business is our niche! Keep reading to learn about the biggest local legislative issues and trends impacting the St. Louis real estate industry.

Two threatening rental property ballot initiatives On Jan. 11, 2016, the Florissant City Council voted to put two initiatives, Proposition R and Proposition A, on the April ballot, which will greatly impact the real estate industry. Florissant rushed the legislative process by holding the first, second and third readings in one hour-long meeting. The council voted on the final passage of two bills, despite testimony from both the St. Louis Association of REALTORS® and the St. Louis Apartment Association. Currently, Florissant’s rental licensing code mandates rental property owners must pay $15 for a rental license. The passage of Bill 9135 put Proposition R on the April ballot, which proposes to increase the fee to $50 per unit on each license. The proposed change applies to all rental properties, from single-family homes to multi-family apartment complexes with hundreds of units. If Proposition R passes the ballot on April 5, the City of Florissant will gain an additional $328,000 in revenue annually from rental property owners. The ballot language for Proposition R vaguely reads, “Shall the City of Florissant, Missouri increase the fee for residential rental license to $50 per unit?” This language gives the voter no indication they are increasing fees to roughly 16 times the current rate. The St. Louis Association of REALTORS® views Proposition R as a blatant “money grab” targeting the real estate industry. Proposition A makes adjustments to Florissant’s vacant property code, which has been in effect since 2005. Currently, the ordinance imposes a $200 semiannual fee if a property is vacant for six months or longer and is in violation of the Florissant property maintenance code. Proposition A would expand the code to assess a $200 annual fee 12 | Spring 2016 — REALTOR® Report

The St. Louis Association of REALTORS® is organizing with the National Association of REALTORS® and the St. Louis Apartment Association to oppose Propositions R and A in Florissant. Expect more information from Government Affairs.

St. Louis REALTORS® testify at Missouri Senate Hearing Scrutiny on how some municipalities collect revenue led to statewide legislation last year with unintended impacts on the real estate industry. When the Missouri legislature capped the amount of revenues that municipalities can legally collect from traffic violations, some communities saw a dramatic increase in municipal code citations. Many of these municipal tickets are from excessive property code violations. For example, in Pagedale, Mo., a home owner can be assessed a $200 fine if their curtains don’t match in the front windows. This year, Senator Eric Schmitt introduced Senate Bill 572, which revised the current 12.5 percent revenue cap for municipalities in St. Louis County to include money from municipal violations. This is a great protection for home owners and rental property owners who are being hammered with excessive property code violation citations, many of which have nothing to do with the safety of the property. Joe Ord, government affairs director at Amoso Properties, recently traveled to Jefferson City to testify in the Missouri Senate hearing in support of Senate Bill 572.

Hot real estate market predicted at 2016 Economic Forecast Breakfast The recent Economic Forecast breakfast featured Jonathan Smoke, chief economist with Realtor.com, and Charles Gascon with the Federal Reserve Bank of St. Louis. Smoke named St. Louis the “second hottest housing

market in 2016,” and provided eye-popping stats about our market. Smoke named the Crestwood ZIP code 63126 as one of the top 100 ZIP codes for residential real estate activity in the entire country! The St. Louis Association of REALTORS® looks forward to a fantastic real estate market and a year of economic growth for our region. Visit our website for their presentations: www. stlrealtors.com/2016economicforecast.

REALTORS® represent St. Louis at 36th Annual Capitol Conference Every January, REALTORS® from across the state of Missouri descend upon the Capitol to speak to their legislators about issues affecting the real estate industry. This year there were many items of concern on the legislative agenda. REALTORS® are in support of House Bill 1862, which clarifies the period of time a landlord would be able to regain control of their property after the elimination of Trial De Novo last year. The association is also in support of House Bill 1970, which requires municipal utility providers to notify the landlord if a tenant is 30 days late on their utility payments to prevent owners from being stuck with unpaid utility bills after the lease term is up. As always, the preservation of historic and low-income tax credits was also on our legislative agenda. Also during at the Capitol Conference, the campaign for Missourians for Fair Taxation was revealed. Missourians for Fair Taxation is a proposed constitutional amendment to ban sales taxes on services from the Missouri Constitution. In some states, sales taxes on services are being used to replace the income tax, which has a direct impact on REALTOR® commissions. In Puerto Rico, sales taxes on services are as high as 11 percent! The campaign is being led by Missouri REALTORS® and will require participation from all the local associations across the state. Contact Martina Johnson at mjohnson@stlrealtors.com to get involved with this important ballot initiative for the November 2016 election, and look for more information to come.

Martina Johnson is the Government Affairs Director for the St. Louis Association of REALTORS®. Contact her at mjohnson@stlrealtors.com.


LOCATION, LOCATION, LOCATION! Hottest St. Louis ZIP Codes in Q4 2015 Based on Supply & Demand

Source: realtor.com

Thank you! We would like to take this opportunity to thank Scott Credit Union for its Winter Wonderland Sponsorship at the 2015 Holiday Open House. 13 | Spring 2016 — REALTOR® Report


It’s a Big, Big World The Inclusion Advisory Group is pleased to announce that Charles McMillan has graciously agreed to present at the annual Big, Big World event taking place in the conference center at the St. Louis Association of REALTORS® this fall. Charles McMillan has been a REALTOR® for more than 30 years, having entered the real estate industry in the early 1980s after serving in the U.S. Air Force. Subsequently, He was director of realty relations and broker of record for Coldwell Banker Residential Brokerage, Dallas-Fort Worth, where he served as the company’s point person for regulatory and legal issues. Charles McMillan is also the first African-American president in the National Association of REALTORS®’ history. He was considered a ‘members’ president’ and said, “Whatever NAR does, it must be for the benefit of REALTORS®.” During his year in office in 2009, NAR won passage of an $8,000 tax credit for first-time buyers, launched a foreclosure prevention and response program, worked to improve the short sales system, and claimed victory in an eight-year battle to prevent banking conglomerates from entering real estate brokerage and property management businesses. In addition, Charles provided members with millions of dollars’ worth of free and discounted resources through the Right Tools, Right Now campaign. Before serving as president of the National Association of REALTORS®, Charles was first vice-president in 2007 and regional vice president for NAR Region 10 in 2001 and 2002. He has served on the board of directors since

14 | Spring 2016 — REALTOR® Report

1994 and has volunteered his time and expertise in a number of national committees, including chair of the Communications, Nominating, and State & Municipal Coordinating committees. He has also been recognized by NAR as an expert in the areas of agency, antitrust, misrepresentation, fair housing and diversity. Charles also has an active civic life and is a life member of the Texas Real Estate Teachers Association and an approved instructor by the Texas Real Estate Commission in real estate pre-licensing and mandatory continuing education courses. He is a past chairman of the Community Development Council of Fort Worth, the Tarrant County Affordable Housing Task Force, the Housing Subcommittee of Fort Worth, and a past director of the United Way of Tarrant County and of the Fort Worth Chamber of Commerce. This brings us back to Big, Big World. Charles McMillan is an innovative and inspirational speaker and a trusted expert in leadership development and diversity. You’re invited to come and hear his message of conviction, leadership, perseverance and progress. Along with other planned festivities, this event promises to be empowering and enlightening – an essential experience for anyone interested in expanding their perspective of the world we live in! The date is set for September 23. Stay tuned for further details.

Karen Dunn is the Director of Professional Development for the St. Louis Association of REALTORS®. Contact her at kdunn@stlrealtors.com


MARKET TRENDS REPORT

February 2014 - 2016

St. Louis School Districts

St. Louis City New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

2014

2015

2016

388 121 $89,766 $113,259 201

416 86 $103,500 $131,579 204

394 98 $140,000 $167,749 197

Affton School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

40 51 $116,750 $118,615 18

36 78 $130,700 $151,594 30

42 53 $120,000 $131,126 20

19 119 $75,650 $78,634 11

14 83 $108,500 $97,833 9

23 59 $130,950 $113,294 14

22 133 $170,000 $173,027 11

16 120 $130,000 $189,077 15

24 126 $192,200 $219,363 15

16 52 $55,500 $67,583 6

21 86 $80,000 $79,307 15

New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

131 82 $69,450 $86,571 76

136 84 $61,000 $78,517 99

184 72 $79,000 $86,666 65

New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

15 62 $14,900 $15,674 15

17 117 $16,688 $18,075 4

25 111 $14,000 $16,289 9

New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

63 94 $287,000 $328,228 29

81 60 $253,500 $292,777 45

75 80 $282,500 $323,127 36

48 76 $545,000 $706,112 21

45 111 $417,500 $500,221 26

55 114 $415,000 $472,279 19

62 72 $168,000 $195,790 35

53 51 $175,000 $212,618 39

60 40 $182,000 $189,317 35

Ladue School District 24 109 $266,000 $500,833 9

31 66 $501,500 $524,500 8

28 81 $314,000 $387,383 18

Ferguson-Florissant School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

9 69 $25,750 $44,900 6

Kirkwood School District

Clayton School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

2016

Jennings School District

Brentwood School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

2015

Hazelwood School District

Bayless School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

Hancock Place School District 2014

94 89 $40,300 $49,244 36

New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

Lindbergh School District 112 94 $42,500 $51,346 45

87 99 $52,000 $65,456 66

New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales


Maplewood-Richmond Heights School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

27 74 $70,000 $102,583 9

12 43 $160,000 $145,214 14

Rockwood School District 17 66 $174,050 $201,810 10

129 117 $156,350 $167,895 68

132 84 $160,875 $170,920 92

137 101 $149,500 $158,387 71

Normandy School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

184 102 $255,000 $278,706 83

175 88 $266,200 $302,183 84

225 76 $285,000 $315,933 105

55 102 $189,000 $195,417 21

66 86 $212,500 $247,830 32

59 85 $161,450 $214,193 28

68 95 $179,000 $230,440 33

65 62 $198,500 $230,117 28

University City School District

Mehlville School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

Webster Groves School District 26 56 $22,000 $42,363 24

24 129 $19,350 $26,029 13

27 136 $17,000 $33,997 13

182 78 $239,900 $265,223 91

183 80 $279,900 $323,763 118

216 73 $302,400 $291,684 121

66 89 $117,900 $130,920 35

58 83 $120,000 $124,974 31

77 106 $155,000 $185,711 39

44 113 $45,000 $53,118 33

60 79 $46,623 $50,389 26

65 90 $65,000 $75,560 29

36 61 $21,000 $25,494 37

50 118 $19,200 $26,214 21

New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

56 73 $149,375 $180,444 24

Parkway School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

Pattonville School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

Ritenour School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

Riverview Gardens School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales

40 69 $18,525 $24,319 24

For additional comparison reports, visit our website at www.stlrealtors.com/DistrictStats.


Welcome New Members! DESIGNATED REALTOR® Shawn Briner Shawn T. Briner, Broker James Hsiau James Hsiau, Broker Brian Levine Basis, LLC.

DESIGNATED REALTOR®/STATE CERTIFIED APPRAISER

Susan Drusch The Road Home Realty

Richard Sorkin Roanoke Realty

Nathan Groves Veterans United Home Loans

Kenny Golfinopoulos Urban Living STL

AFFILIATES

Dustin Hagar Apple Inspections

Carole Huntley Carole J. Huntley, Broker Leslie Johnson Newcastle Real Estate, LLC Evan Kuhn Evan Kuhn, Broker

Kent Gastreich W.H. Heyden & Associates

Susan Sauer Rome West Realty, LLC

Timothy Martin Martin Appraisal Services, LLC

DESIGNATED REALTOR®

DESIGNATED REALTOR®

Ashley Rasmussen Carrington Real Estate Services, LLC

Previously REALTOR®

Cary Baumann St. Louis Home Brokers John Schink Deerwood Realty

DESIGNATED REALTOR®

Secondary Member

Richard Roddewig Clarion Associates Steve Snarzyk Realty One Group – Trademark

Previously REALTOR®-Associate

REALTOR®

Joseph DiFranco DiFranco Realty

Timothy Meyer Red Key Realty West

Previously REALTOR®-Associate

! u o y k n a h T

Armand Bendia AAA Pest Management Stuart Blake BPG/ABA Inspections & Consulting

Jeff McNutt RE/MAX Results Mike Pulley Center Line Construction

Travis Boyer MoldMan St. Louis, LLC.

John Skaggs Spin Bliss Photography

Claudia Brodzinski Dielmann Sotheby’s International Realty

Mandy Thompson Graebel Van Lines

Charles Cashner Button Home Inspections

COMPANY NAME CHANGE

Daniel Crawford Nationwide Properties Group

Kenneth Aston Jr. Berkadia Real Estate Advisors (Previously Hendricks & Partners, LLC)

Neil Endicott Neil Endicott Architectural Photography

R.K. Dreier Chatelaine, LLC (Previously Chateaus of St. Louis)

Jeffrey Fetterhoff First State Bank Mortgage

Ryan Garnto Tawg Realty, Inc. (Previously RDG Realty, Inc.)

Elizabeth Goedeker Flair Home Staging & Display

Kimberley Ruffino Custom Realty (Previously 6 Star Management)

We would like to take this opportunity to thank Wells Fargo for its Bar Sponsorship at the 2016 Installation of President Sandy Hancock and 2016 Board of Directors.


Events 4/1, 6 - 9:30 p.m. -

April

! u o y k n a h T

RPAC Trivia Night, St . Louis AOR 4/7, 11 a.m. - 1 p.m . - Women’s Council of REALTORS®, Spazio’s 4/8, 1 p.m. - Annua l Equal Housing & O pportunity Council Conference , Ferguson Commun ity Center 4/21-22, Missouri R EALTORS® April Busi ness Conference, St. Cha rles Convention Cen ter 4/25, 9-11 a.m. - B roker Forum, St. Lou is AOR 4/30, 8 a.m. - Rebu ilding Together St. Lo uis (Build Day)

May/June

l of REALTORS®, ci n u o C ’s n e m o W .5/5, 11 a.m.-1 p.m Spazio’s r Memorial Day fo d se o cl R O A is 5/30, St. Lou nical Gardens ta o B s, ir a ff A n a . - Urb 6/2, 9 - 10:30 a.m REALTORS®, f o l ci n u o C ’s n e m . - Wo 6/2, 11 a.m. - 1 p.m Spazio’s ion, Orlando’s ct u A r e n in D C A P R 6/9, 6 - 10 p.m. To view more, visit:

www.stlrealtors.com/events-calendar

We would like to take this opportunity to thank RE/MAX St. Louis Region for its Dessert Sponsorship at the 2016 Installation of President Sandy Hancock and the 2016 Board of Directors.


St. Louis Association of

REALTORS速

12777 Olive Blvd. | St. Louis, MO 63141 314.576.0033 | www.stlrealtors.com RETURN SERVICE REQUESTED

St. Louis REALTOR® Report | Spring 2016  
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