Chesterfield, MO

Residential homes (including condos/villas) sold in Chesterfield, MO 3/1/08 - 3/31/08:

Minimum, Average, Maximum

Days On Market Analysis

Listing Price\Selling Price

Residential homes (including condos/villas) sold in Chesterfield, MO 3/1/09 - 3/31/09:

Minimum, Average, Maximum

Days On Market Analysis

Listing Price\Selling Price

Information courtesy of the MLS. It is deemed reliable, but not guaranteed.

Service you Expect from a Realtor you can Trust!

GRI, e-PRO

www.SelectMyHome.net 314-640-7061 (cell) Prudential Alliance, REALTORS 636-887-3554 (office)

Debi.Ernst@PrudentialAlliance.com

I recently received the newest issue of the Chesterfield Citizen and was reviewing all of the activities that the city of Chesterfield has planned for the summer. Wow!

The activities include National Trails Day, the summer concert series, a 4^th of July fireworks celebration, and free movies on the Plaza. The Family Aquatic Center has tons of activities of it's own including swim team, swim lessons, river walk club, pool parties and a K-9 Splash for the canine friends. There are youth sports organizations for baseball, softball, soccer and football, adult softball leagues and track and field events. Chesterfield Arts offers a full calendar of events including dance and art. There are also parks that are scattered around the city many of which have play equipment for kids. Overall, this city is maturing and growing by leaps and bounds. The quality of the programs is outstanding. Chesterfield residents should be proud of their city and take advantage of all that it has to offer! For more information and details, check out http://www.chesterfield.mo.us/site/includes/main/citizen.jsp

In doing some research, I identified data that shows foreclosure rates for each zip code in the Chesterfield, MO area. Chesterfield has 2 different zip codes so the information is separate for each zip code.

For 63005:

The population is 18, 293.

The number of households is 6110

The median income is $172,424

The average home value is $559,626.

Foreclosure rates have been on the increase. In 2005, there was less than 1 foreclosure per 1000 households-only 4 for the whole year. In 2006, there were 9 for the year. In 2007 there were 20 foreclosures. In 2008, through the third quarter, there were 43.

For 63017:

The population is 45,252.

The number of households is 16,572

The median income is $105,916

The average home value is $362,348.

Foreclosure rates have been on the increase. In 2005, there was less than 1 foreclosure per 1000 households-only 6 for the whole year. In 2006, there were 28 for the year. In 2007 there were 35 foreclosures. In 2008, through the third quarter, there were 58.

We are still not out of the woods yet. Many of those who have been able to hold on to their homes have taken a hit financially in other arenas while continuing to try to pay the mortgage. Some of these families will declare bankruptcy from this financial stress. That may lead to more foreclosures. The other factor continuing to haunt the economy is the number of subprime adjustable rate mortgages that are still due to reset in the year 2009. Job losses across many segments of the economy continue to contribute to the problem. Where will it all end???

St. Louis real estate in both 4^th quarter of 2008 and first quarter of 2009 had been a bit sluggish. Just in the past few weeks we are seeing encouraging signs. We have been doing a lot of listing, but now our listings are starting to sell. That is what we have been waiting for!! What we don't understand is why sellers have had such a hard time selling their homes. They hire experienced professionals who tell them exactly what to do: Price it right (we even tell them what that probable price is) and great condition. We tell them how buyers are out there cherry picking the best homes and looking for the best values. We call it a "Price War and Beauty Pageant". Really! That is what is going on. If the home isn't the perceived best value, it won't sell. There are so many choices out there. Buyers can afford to be, and should be choosy.

We can speak from personal experience because we put our own home on the market in October of 2008, right as the stock market was in free fall. Everyone said we were crazy for putting our home on the market then. Would it really sell?? they wondered. We figured if we couldn't sell our own home, we were in real trouble. So, on the market it went. Granted, buyer traffic was slow as the stock market tumble had paralyzed most buyers. But after only 4 showings we received a contract offer. Not exactly the price we were looking for (after all, real estate agents are sellers too!) but it allowed us to take advantage of a sluggish real estate market and purchase a home we hadn't dreamed we could have afforded just a few years before. We listened to the advice we tell all of our sellers: It must look good, smell good and be priced right. Homes that are priced right and are in good condition have, and always will, sell. Amen, brother.

Residential homes (including condos/villas) sold in Chesterfield, MO 2/1/08 - 2/28/08:

Minimum, Average, Maximum

Days On Market Analysis

Listing Price\Selling Price

Residential homes (including condos/villas) sold in Chesterfield, MO 2/1/09 - 2/28/09:

Minimum, Average, Maximum

Days On Market Analysis

Listing Price\Selling Price

Information courtesy of the MLS. It is deemed reliable but not guaranteed.

Service you Expect from a Realtor you can Trust!

GRI, e-PRO

www.SelectMyHome.net 314-640-7061 (cell) Prudential Alliance, REALTORS 636-887-3554 (office)

Debi.Ernst@PrudentialAlliance.com