Joan Hubbard

Come join us for our Open House - Saturday, March 17, 2012, 12 Noon - 2pm.

This is a full-scale rehab home where everything will be new. It is located in the central city close to Wohl Center, Sherman Park and public transportation.

2 Story 3 bedrooms - 1.5 bathrooms, 1,518 sq. ft. year built 1913 - $117,500.

This is a Greater Ville Neighborhood Preservation Commission Project. Neighborhood Stabilization Project (NSP) income limits adjusted for household size will apply. A buyer's closing cost assistance of $2,000.00 and a homeowner's warranty is included. Scheduled completion of this home is April, 2012.

At the tip of the City of St. Louis near the Chain of Rocks Bridge is a site that was sought by Casino Celebration for construction of a casino gaming and entertainment facility. City Planners supported Casino Celebration because of the anticipation of $11 Million in tax revenue to the City and 600 permanent jobs.

However, on December 3, 2010, the Missouri Gaming Commission met and awarded the State's last remaining gaming license to Cape Girardeau, a Mid-Missouri city approximately 120 miles southeast of St. Louis. The Gaming Commission sided with a State economic analysis that the Cape Girardeau site would bring in $20 Million more in tax revenue.

This decision freed up the Chain of Rocks site for inclusion in the River Ring.

The St. Louis area is defined by the Mississippi, Missouri, Meramec and Cuivre Rivers. The River Ring links these rivers through a system of 45 inter-connected greenways, parks and trails. When complete, the River Ring will join Missouri and Illinois and cover an area of 1,216 square miles.

The Chain of Rocks Bridge now caps a greenway trail that stretches down the riverfront north to Alton, Illinois and that is part of the larger River Ring Plan. Chain of Rocks is a key link because it connects Missouri to the growing Southern Illinois populations.

Susan Trautman, Executive Director of Great Rivers, says that the River Ring will improve communities. She further notes that the River Ring represents a common cause; clean air, clean water, healthy forests, connected neighborhoods and walkable streets. The outcome will be a region where people will move into and stay.

This summer and fall, members of the Missouri Real Estate Industry joined together to support an amendment to the Missouri Constitution that would prevent double taxation on homes and other properties. Our focus was on the possibility of a MO Real Estate Transfer Tax.

The Real Estate Transfer Tax is a tax imposed by state and local governments that is collected when you transfer ownership of your home, land or other real estate. We object to the real estate transfer tax because Missouri homeowners already pay an annual property tax and the imposition of the transfer tax would amount to double taxation.

The Missouri economy is currently very fragile and many people have been forced to sell their homes at a loss because of declines in property values. As Missouri Realtors, we believed that our neighbors should not be subjected to more taxes, especially the double taxation of a real estate transfer tax.

Realtors across the State worked to create awareness of the real estate transfer tax and what politicians were trying to do. By law, an amendment to the Missouri Constitution requires a positive statement. Therefore our language was very simple: "Shall the Missouri Constitution be amended to prevent the state, counties, and other political subdividions from imposing any new tax, including a sales tax, on the sale or transfer of homes or other real estate?"

We advised our constituencies of the implications and asked that they vote yes to say no to any Missouri Real Estate Transfer Tax.

On November 2, 2010, 83% of Missouri voters voted yes to say no to the Real Estate Transfer Tax.

WE WON.

Joan Hubbard, Broker-Salesperson

Buy property in North St. Louis now as a way to get in on the ground floor of the fundamental regeneration of an entire section of the city.

Developer Paul McKee, head of McEagle Properties, has initiated an extensive plan for rebirth that covers approximately 500 acres. McKee's plan to buy property in North St. Louis includes construction of the infrastructure necessary for 4.5 million square feet of new office and retail space. McKee's plan to buy property in North St. Louis has met with some skepticism from local residents, but he has the support of city, state and community leaders. McKee is also aggressively handling the legal and public relations issues that are inherent in any endeavor of the kind.

McKee's efforts to buy property in North St. Louis and address the infrastructure issues opens the door for the small to mid-size investor to buy property in North St. Louis. McKee told the St. Louis Post Dispatch that he wants to partner with residential developers to create urban-style, mixed-income housing across the area.

St. Louis is an old city with many old brick 2 and 4-family units. A number of these units are now owned by lending institutions and so are now available for sale at significantly reduced prices. Additionally, many are occupied by long-term tenants who like their neighborhoods and appreciate the access to good public transportation. These tenants are also hoping for an investor (landlord) to buy the property and bring about some stability in their lives.

Investors who buy property in North St. Louis now will not only get good bargains, they will be taking part in the historic transformation of a city.

These two-family units are examples of the kind of properties that are available. 3927 Maffitt has one occupant on the first floor paying $425.00 per month. The upstairs is unoccupied; so is available for an owner-occupant or for rental to another tenant. 4023 Maffitt is fully occupied with both tenants paying $475.00. Additionally, new construction is underway on the next block.

ACT NOW - Do not be left out. Buy Property in North St. Louis

REHAB A HOME IN THE WEST END 0F ST LOUIS MO and enjoy the benefits of living in a big house in a great location at an affordable price.

Just imagine - a home with large rooms, plenty of closet space, your own bathroom separate from the kids. Let the kids have their own bedroom suite. Think of a separate dining room, a majestic staircase, a fireplace in your bedroom, and maybe even space for when your sister and her kids visit at Christmas. This can be your future. Buy an old home at a lower price. Then rehab that home over a period of time that fits your needs.

St Louis is an old city. The West End is a prestiguous area that includes parks, restaurants, shopping, churches, a university and good public transportation. As a result, home pricing is generally somewhat upscale.

But, if you buy an old home that needs work and/or is possibly a foreclosure, you increase your net worth over time in this same prestiguous location. True, there are also renovation costs to consider to rehab a home. But, there are various levels of acquisition and renovation costs available to anyone who wants to rehab a home. Here are some examples of what you can get:

The acquisition costs for a home that requires significant improvements will certainly be less than one requiring fewer upgrades.

If you or someone you know is interested in rehabbing a home, please let me know. I will be happy to look at your particular situation, show you homes that fit your needs and if necessary, recommend lenders who can provide loans that cover the acquisition costs as well as the renovation costs.