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Old 02-05-2016, 03:57 PM
 
197 posts, read 238,337 times
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3953 Roland Blvd, Saint Louis, MO 63121 | MLS #15018475 | Zillow

Here's an awesome house in Pasadena Hills! We just moved to the area and love it. Private schools are nearby and you can get downtown or to Clayton in less than 15 minutes. Best deal in St. Louis in terms of house/ price. safe and affordable in a park-like setting.
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Old 02-05-2016, 05:24 PM
 
Location: St. Louis
673 posts, read 657,488 times
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Quote:
Originally Posted by Rockmanx View Post
I did notice this, and I'm considering it in our search. That said, I spoke to my dad and he said that sometimes in the Sunday paper there are house building deals where sometimes the deals waive all of the upfront money you have to put down on building nowadays. How accurate is this?
That sort of thing was certainly going on during the bubble ten years ago. I can't say for sure now. Maybe someone else can chime in, but I would imagine you'll have to sign-off with a lender beforehand anyway.

Also, read reviews. I've never bought new, but heard that quality varies widely between home-builders.

From recent experience, I can tell you that local banks really appreciate decent down payments. It'll allow for lower interest rates and possibly larger loans. I was stunned at how much they were willing to lend.
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Old 02-06-2016, 07:26 AM
 
Location: Apex, NC
1,362 posts, read 913,217 times
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The housing market in St. Louis is fully in favor of sellers right now. We were considering selling our house and ultimately decided to wait because over a 1 yr search dating to March 2015, all the "good" houses we were seeing were going in days and had multiple offers (sometimes into the teens). There's just no inventory. For a time we were also considering Nashville, which is supposed to be one of the booming markets in the U.S., and inventory plus home deals were FAR better down there. STL has an inventory problem big time right now.
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Old 02-06-2016, 10:23 AM
 
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NoCo should have inventory. There arent any fancy shopping malls and you have to pick and choose your schools.
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Old 02-07-2016, 10:51 AM
 
5,578 posts, read 2,617,939 times
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Quote:
Originally Posted by Rockmanx View Post
Just asking for some suggestions, me and my wife were house hunting, already pre-apporved but it seems like the market in MO (as I talked to my uncle who is building in IN and its not as screwy) is in completely chaos here on the buyer's end. We started in the middle of Jan and the houses are really over-priced (when making comparisons to recent sales of near by homes) , or flipped (charging double or more for "updated" low sq-ft homes), any good deals are literally gone within a few days, sometimes they don't even really get on the market, or if I do not arrange the times to see homes in a certain order we miss our chance to see a good one before its gone.

Nothing is left that meets our needs (and we have quickly made many changes) but homes where it is obvious why they have been on for so long when you go in to see them. Tried building but because of the crash builders are asking for too much money before digging. I'm not entirely sure why real-estate is propagating mellinials into the home market, I haven't been impressed so far in MO at least. How long does it typically take to do a decent home search and will there be more options in Spring? Renting is become very bad and I know of only one place where our stay was excellent. I may just have us move back there, save some money (as the rent isn't even 30% of our income, it's just the value for the money that is bad) and wait until another crash.
Did you see this one? Fairly priced and at good location.

723 Grand Glen Dr, Manchester, MO 63021 | MLS #15059141 | Zillow
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Old 02-07-2016, 08:38 PM
 
Location: St. Louis
673 posts, read 657,488 times
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Quote:
Originally Posted by GoCardinals View Post
Did you see this one? Fairly priced and at good location.

723 Grand Glen Dr, Manchester, MO 63021 | MLS #15059141 | Zillow
Have you advertised this exact house in a previous thread?
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Old 02-07-2016, 09:00 PM
 
33 posts, read 42,748 times
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Quote:
Originally Posted by RisingAurvandil View Post
Have you advertised this exact house in a previous thread?
Beyond that, the house is actually overpriced in comparison to the division and what the other homes recently went for. I'm thinking we'll probably just wait for the inevitable crash, we'll have a lot of money saved up and it might be a good time to build a house for cheap. Right after the crash might be the perfect opportunity actually for getting a really good place for under 200k or better for a little above that.
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Old 02-08-2016, 09:21 AM
 
Location: Apex, NC
1,362 posts, read 913,217 times
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Quote:
Originally Posted by Rockmanx View Post
Beyond that, the house is actually overpriced in comparison to the division and what the other homes recently went for. I'm thinking we'll probably just wait for the inevitable crash, we'll have a lot of money saved up and it might be a good time to build a house for cheap. Right after the crash might be the perfect opportunity actually for getting a really good place for under 200k or better for a little above that.
While I don't know if we'll see a crash like 2007, it's predictable we'll have another downturn in the next 15-20 years, even if it's fairly minor. We didn't want to buy high, so we're waiting. Going to put some upgrades into our existing house and ride it out.
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Old 02-08-2016, 02:11 PM
 
33 posts, read 42,748 times
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Quote:
Originally Posted by STL2006 View Post
While I don't know if we'll see a crash like 2007, it's predictable we'll have another downturn in the next 15-20 years, even if it's fairly minor. We didn't want to buy high, so we're waiting. Going to put some upgrades into our existing house and ride it out.
From what I've researched it looks like its going to be worse than 2008, where I'm working they are already preparing for it. I didn't really think about in until now though. Now it makes sense.
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Old 02-08-2016, 02:22 PM
 
4,875 posts, read 3,315,049 times
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I'm curious to know why you think a new crash will be worse. The primary motivator of recession multipliers, I think, is debt. Something happens to make people worry and restructure their balance sheets away from debt. The household debt % of disposable income is down from a peak of 140+ in 2007 to 113 in 2014, as low as it's been since 2002 (numbers from data.OECD.org). So while the economy is not in great shape at the moment, the capacity to set up a negative spending spiral seems reduced.
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