Grant Hickman

While not recession-proof, the Midwest and more specifically the St. Charles County region, has escaped the recent economic woes and mortgage crisis better than most. O’Fallon is a case in point. The St. Charles County Association of Realtors notes that in May, 102 single-family properties in O’Fallon were sold. That’s a 21 percent increase over the 84 houses sold in April. At the national level, home sales rose 2.4 percent from April to May (National Association of Realtors). On the flip side, the average sale price was down 7 percent from a year ago.

Even considering the lower sale price, the movement of homes with a SOLD sign in the front lawn indicates a slow but steady return to housing normality. The total transformation is a long way away, no doubt about it, but the economic news is more positive.

Yet all of the statistics, projections and analysis really don’t tell the story of why O’Fallon has remained a stable community. Recently the St. Louis Beacon, an online newspaper, featured O’Fallon in a series of community profiles. One mantra, repeated over and over, is that O’Fallon is a great place to raise children. This attitude attracts middle class families who want suburban living, good schools and close proximity to metropolitan St. Louis’ features, such as the Art Museum, the Zoo, theater, baseball and restaurants.

The current median household income is $74,426, while 67 percent of the population have household incomes between $50,000 and $150,000. Home prices are affordable, with 39.3 percent of the population living in homes that cost between $200,000 and $299,999, according to the U.S. Census Bureau.

During the past 20 years, O’Fallon was part of the westward surge to build more homes and attract businesses across the Missouri River. Now that expansion has slowed, giving the community a breather and time to assess future growth.

With a business and industry mix that includes large corporations such as Citigroup, MasterCard and MEMC Electrical Materials, balanced with smaller employers, restaurants and retail, O’Fallon just might be a model for emerging in good shape from a weak economy.

Relocating to O'Fallon

In today’s real estate market every buyer is looking for a deal, and in many cases the best deal can be found by buying a foreclosure.

The Missouri Housing Development Commission (MHDC) has now made that opportunity that much more enticing by releasing their Neighborhood Stabilization Program (NSP), which will provide borrowers with down-payment assistance when they buy foreclosed properties.
Specifically, MHDC will provide the borrower with 20% of the purchase price up to $14,999. This will be in the form of a second mortgage that will be at 0% interest and will be forgiven after 5 years.

As with any loan programs, there are specific rules and for NSP; some of them are as follows:

• The home that is being purchased must be a foreclosed home. (HUD home, FNMA home, or a bank owned home, etc.) No short sales.
• There are specific income limits by County
• There are specific purchase price limits
• The borrower(s) must have 8 hours of homeownership counseling, which can be provided by any certified HUD counselor.
• The home purchase price must be at a discount of at least 5% from current market appraised value.
• The property must have been without tenants for the past 12 months.

In addition to potentially qualifying for $14,999 free money, the borrowers that are first-time homebuyers will then still be able to file for their $8,000 tax credit on their federal income tax return if they purchase before December 1, 2009. (You do however not have to be a first-time homebuyer to qualify for the NSP!

If you know of anybody thinking of buying a home, I can’t imagine it getting much better than the program MHDC is providing with their Neighborhood Stabilization Program. Call your Realtor today and tell them to get out there and find you a foreclosure!!!

One of the first questions potential home buyers ask their real estate agent is “How good is the school system?” Of all the local neighborhood amenities that can influence a buyer’s decision to purchase a home, proximity to good quality schools is one of the most influential, according to the 2007 National Association of REALTORS Profile of Home Buyers and Sellers. School quality was listed as a deciding factor for 28% of home buyers.

Q: Please introduce yourself?
A: Kris Boevingloh

Q: What is the name of your business?
A: Law Offices of Kristoffer M. Boevingloh, LLC

Q: Where is your business located?
A: 7717 Natural Bridge Rd., Ste. 203 STL MO 63121

Q: Briefly describe what you/ your business does.
A: Law Firm
Kris Boevingloh founded the Law Offices of Kristoffer M. Boevingloh, LLC to better serve the people of the Greater St. Louis Area. Mr. Boevingloh's clients appreciate his personal touch when working with cases, a direct result of his experience with many kinds of legal work. Mr. Boevingloh is skilled in transactional law and offers services such as estate and business planning. He is also experienced in litigation, successfully representing clients in circuit court jury trials and before the Missouri Court of Appeals.

Mr. Boevingloh, a graduate of the University of Missouri, Columbia - School of Law, has worked with the Missouri Supreme Court, the Boone County Prosecuting Attorney's office, small firms, and finally a firm headquartered in down-town St. Louis.

From simple planning to complex estate administration, working with Mr. Boevingloh means that you can expect skill and diligence as he helps you face the complexities of starting a new business or planning for your children's future. When faced with personal injury or workers' compensation issues, you can trust Mr. Boevingloh to treat your case with the respect it deserves. In the courtroom Mr. Boevingloh is a committed advocate for his clients, respected by attorneys and judges alike; you can expect Mr. Boevingloh to use the utmost diligence and skill to assure the best outcome for your case.

The firm is dedicated to supporting clients by finding the best solution for their legal problems. This is a commitment to keep both time and costs to a minimum. The firm is devoted to find real solutions for real people with real budgets. Whatever your legal needs, the Law Offices of Kristoffer M. Boevingloh, LLC is here to serve you.

Q: How many years have you been in business?
A: 5

Q: What is your burning desire?
A: To sail around the world

Q: What’s something not many people know about you?
A: I am an Eagle Scout

Q: Do you have a Website Address?
A: www.Boevingloh.com