About Saint Louis City County, MO

The Marketing Machine - Annoying your Friends, Family and Other Members of Your Social Network

Social networking sites such as Facebook can be great tools for keeping in touch with members of your sphere of influence. Keeping your friends and family informed of your professional interests is an appropriate use of social networking sites. However, there is a fine line between sharing your professional insights and experiences on social networking sites and using social networking sites as an advertising and marketing machine. For those new to social networking sites, it is easy to take the wrong approach to social networking by blasting your listing information repeatedly to your connections.

Use SeeMyListings.com Widget to Place Your Listings on Your Facebook Profile

For Facebook users, there is now a simple solution. Use the listing widget provided by the National Association of Realtors and Realtor.com to place your listings on your Facebook profile. Here are the steps:

Step 1 - Go to www.SeeMyListings.com.

Step 2 - Click on "Add My Listings.

Step 3 - Log on to your Facebook account.

Step 4 - Enter your MLS provider and user name.

Step 5 - Click on "Add to Profile" or "Update Listings."

In a few simple steps, you are able to automate the addition of your listings to your Facebook profile. Given the number of Realtors who I am connected to on Facebook who aren't using this feature, I thought I would post this this short how-to post to get them motivated. Five easy steps to get your listings on Facebook without annoying your friends, family and even colleagues.

Gilded Age, a Lafayette Square real estate development company, and Butler's Pantry, a local catering company, jointly announced the grand opening of the state of the art event facility known as "Palladium Saint Louis" in the former Laundry Building of City Hospital No. 1.  The opening of Palladium Saint Louis marks the the completion of the first phase of the City Hospital - Carroll North Project with construction of corporate apartments set for Spring, 2010.

Located just South of Downtown St. Louis, Palladium Saint Louis is now open with the ability to accommodate 400 guests for dinner or over 700 people for cocktail style events.  Some features of the new venue include:

• 3-story State of the Art Chef's Kitchen
• Mezzanine Floor Overlooking the Event Space
• Expansive 2-story Windows Offering Stunning City Lights Views
• Artistic "petals" for Personalized room Designs
• Dramatic Lighting
• State of the Art Audio and Visual Capability
• Valet and On-site Parking  

Take a glimpse at this great venue space:

Development Team Credits:

• Developer - Gilded Age
• Architect - The Lawrence Group
• General Contractor - BSI Constructors

Interested in relocating your business to Lafayette Square or in obtaining additional information on the City Hospital - Carroll North Project?  Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.  Or, visit our website at www.PREASignatureRealty.com. 

Prior Blog Post:  Palladium St. Louis - First Event

Interested in listing your condo for rent in the City of St. Louis, Missouri?

PREA Signature Realty is a market leader in the rental of residential properties in the City of St. Louis, Missouri.

(Note: Information based on MLS data available through November 1, 2009)

PREA Signature Realty offers the following rental service plans to owners and management companies:

• Competitive Market Analysis: Receive a comprehensive rental report to assist you in setting your rental rate and leasing terms.
• Limited Service Plan: Obtain placement of property in MLS with syndication to over 100 other websites. Owner is responsible for all showings. Listing Agent is responsible for entering listing into MLS and negotiation and execution of lease only.
• Exclusive Agency Plan: Substantially same as full service plan, except owner retains right to show residence and to directly lease the residence to leads generated by owner.
• Full Service Plan: Listing Agent provides comprehensive services including preparation of Competitive Market Analysis, entry of rental listing into MLS with syndication to over 100 websites, scheduling and attendance at showings, and negotiation and execution of lease.

Here is a comparison of the rental service plans offered by PREA Signature Realty:

For more information on listing your condo, loft, townhome, or single family home for rent in the City of St. Louis, Missouri, contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.

MARKET DATA

Since the start of the year, there has been a downward trend in the number of foreclosure sales and bank repossessions in the St. Louis City market. According to RealtyTrac, St. Louis City ranks 607 in foreclosure activity nationwide. Although the number of new foreclosure notices published, foreclosure sales, and repossessions has declined, the inventory of REO listed properties has increased.

In recent months, the number of new REO listed single family homes in the St. Louis City has dramatically increasedwith an average square foot price between $20 to $40 per square foot according to MLS figures.

At the same time, the number of REO listed single family homes sold has remained steady with an average price per square foot between $25 and $35 per square foot.

Note: The RealtyTrac data includes all residential properties (single family and condos). The MLS data only reflects single family homes and attached fee simple townhouses.

COMMENTARY

If you are an investor looking to purchase single family homes in the St. Louis City market, there are two favorable trends relating to foreclosures and bank owned properties. First, notwithstanding the recent decline in foreclosure activity, there has been an increase in REO inventory. Second, there is now a clearly established sales price trend for REO properties. Notwithstanding these two trends, the purchase of REO properties may not be suitable for all purchasers. Homes with substantial equity or in the best neighborhoods are often purchased as short sales prior to the foreclosure sale or are purchased by experienced investors at the foreclosure sale. The remaining properties often are less desirable either becuase of their location or condition. However, for experienced long term investors with the financial ability to make repairs, these properties may represent a value opportunity to purchase single family homes at discounts average 30% or more off the fair market value of comparable properties.

In addition to foreclosure sales and REO listed properties, there are other opportunities in the current market relating to distressed properties. Here are some alternate real estate investment strategies:

• Purchase of notes and first deeds of trust at a discount from private, non-institutional lenders.
• Purchase of notes and second deeds of trust at a discount from private, non-institutional lenders.
• Bulk purchases of properties from other investors, developers, and lenders.
• Purchase of homes subject to existing deeds of trust from sellers currently in default on their note.
• Purchase homes listed as short sales
• Bid at foreclosure sale.
• Purchase of bank owned properties ("REO").
• Bid at judicial sales including tax sales and sheriff's sales.
• Purchase directly from LRA or LCRA.

If you are an experienced investor and would like to discuss the purchase of investment properties in the St. Louis City market, contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.