Haunted Houses? Do They Really Exist?

Recently I was out showing a home to a buyer client, not only is she a client, but has been a friend since elementary school. This is where it gets a bit hairy.

We were laughing upon entering the house and she made a comment regarding it looked like someone left in the middle of packing. I laughed because indeed it did and there was a big notice on the door to make sure you actually lock the door when you leave.

We continued on through the tour of the house and instead of going to the 2nd floor level we decided to head to the basement since that’s one of the requirements on her wish list. It needs to be livable or able to be finished without much repair.

As we’re walking through the basement, there was this one odd door. I asked if she was going to look she said no really quickly. So of course, me being the agent I decided to be the one to take the look. There was a weird like altar in the room, naturally I closed the door after she peeked and she made a beeline for the basement steps.

We were joking coming out of the basement when it felt like she got a little too close for comfort. But I looked behind me and there was space between us. We passed back through the kitchen on the way to one of the set of steps that lead upstairs. I was leading the way discussing some of the features of the house and the price was set to move the house in the current market.

I had a weird situation after the feeling on the basement steps, however I didn’t say a word about it and trooped right on. Another hairy turn/feeling? I placed my foot on the first step on the upper set of stairs, there suddenly was a large dragging and then a drop. I don’t know what but I had the urge to run and run is what I did. I turned to look and she was running right on my heels.

I slammed the front door the moment she cleared it and started putting the key into the lock. It took about 2 to 3 minutes to get the lock to click into place but she pointed out we didn’t have the box to lock the key back in (Referencing the interior box of the Supra). I suddenly got a sick feeling in my stomach that now I had to unlocked this door and go back in. Then I remembered, ha I never take the box all the way into the house, I usually place it right on the inside floor next to the door.

I opened the lock and door back up and stuck my hand in just enough to grab the box and it felt like a presence was in front of the door. I quickly snatched the box and locked the door after again a 2 to 3 minute struggle with the locks.

We’re finally backing off the front porch of this house and getting into my truck. I knew I couldn’t drive off too quickly, least we crash. I had to take a moment and compose myself, I took a look over at her and she was physically shaking all over.

She asked something then and I was terrified for real. “Do you see the window curtains are now open on the 2nd floor?” I looked up and they most certainly were, I put my truck in reverse and got the heck out of there so fast.

This by far was a showing appointment that left me feeling unprepared and shaken and I keep getting an odd feeling about the house. Enough to know I’ve never felt this feeling in my life and comparing notes afterwards with my client/friend, something was indeed in that house and it wasn’t a person just hanging out.

Do you believe that homes or buildings can be haunted or ever had a feeling that you weren’t alone?

I know it’s far from Halloween however this felt like being in one of the scary movies or books that I love so much.

St. Louis City, County and St. Charles Condos Sold: The Market as of December 2014!

Fast Fact as of January 15, 2015 there are approximately 997 condos/coops/villas for sale on the St. Louis Market. The lowest priced unit available is listed at $11,900 and it’s 1 bedroom 1 bath in Hazelwood and just to blow your mind, the highest list price is $3,299,000 and located in the Chase Park Plaza and the Penthouse suite.

If you’re in the market for a condo, this information serves to show the list price in comparison to sold prices. In all markets just about all sales were sold for less than the list price. This makes it great for buyers wondering how contract pricing worked. It doesn’t provide all data such as repairs, closing cost paid by seller for the buyer, etc. but it does give a brief overview of how December condo sales performed.

If you are in the market for a condo, you can begin your search on my MLS connected website

Real Estate in St Louis

During the month of December 2014 approximately 227 listings were sold in St. Louis and surrounding areas in the market.

This chart represents Condos/Coops/Villas sold and closed in St. Louis County in December 2014.

This chart represents Condos/Coops/Villas sold and closed in St. Louis City in December 2014. Presented in a little different format since the dataset is smaller.

St. Louis City Condos Sold December 2014

This chart represents Condos/Coops/Villas sold and closed in St. Charles County in December 2014. Presented in a little different format since the dataset is smaller.

 

St Charles County Condos Sold December 2014

Exciting news for Potential FHA loan Borrowers From a Real Estate Agent Perspective

You may have heard recently in the media or even read it on a news, mortgage or real estate website.

HUD also known as the U.S. Department of Housing and Urban Development announced new lower premiums on the common fee of Mortgage Mortgage Insurance or to some often referred to as PMI.

Just a little rundown. If you take out a FHA Loan to secure the financing on your home, you have what’s referred to as MIP aka Mortgage Insurance Premium attached to your loan on a annual (it’s broken down monthly in your mortgage payments) basis and upfront fee.

Essentially, the upfront fee was 1.75% of your loan for loans issued on a 30 year note. This amount can be paid at closing by you, the borrower along with your other closing costs associated with your loan including your down-payment funds or it can be rolled into your loan (at lender discretion) instead. So to give you a rough estimate of that amount. Let’s say you are doing a loan for $100,000 and on that your down payment would be 3.5% or $3,500 on a FHA loan. With the MIP upfront fee of 1.75% (current rate prior to change effective January 26, 2015), that would leave you having to bring $1688.75 + 3500 for a total of $4,688.75 to closing and that’s before any other closing fees like appraisals, title work, home warranty, or escrow funds. And on your monthly loan payments say at a 4.75% Annual Percentage Rate, that tacks 1.35% or for the example given $108.56 on to your Principal & Interest would be $512.20, and that total doesn’t include your Taxes and Home Insurance which all comprises your mortgage payment. Those totals so far monthly would be $620.76 again not including your taxes and insurance that would be required as part of your monthly payments.

Confused much? I hope not this is just a rough estimate to show you the effect of the current 2013 MIP Upfront and MIP Annual fees on your mortgage payment each month and closing on your loan.

WHO WANTS THAT?

Now with the proposed announced change, that fee has now been changed to 0.85% on the annual MIP amounts. So for that same loan in the example above your Principal and Interest would be $512.20 but now your monthly MIP would be roughly $71. So under the proposed new changes your payment would $583.20 before taxes and insurance. That new $38 difference can mean a lot to FHA borrowers especially when you look at it over the life of the loan or on a 30 year basis. That would be essentially saving roughly $13,680 over 30 years in a fee that doesn’t apply towards the principal balance of your overall loan.

Dramatic Difference in Payments Right?

That now makes the FHA more affordable to first time home-buyers and those holding loans issued in the last 36 months. And it could result in reductions for those existing FHA borrowers serving to put money back in their pockets each month or they can take a hint and apply it to their principal each month and pay down their mortgages quicker.

Take a look at this past post I did as well regarding money and home purchases.

If you are interested in purchasing a home using the FHA low down-payment program of 3.5% down for St. Louis Real Estate email me at tamara@realestatestlouisnow.com or call me at 314.660.9709

Or use the confidential form below to reach me:

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Quick Poll about your St. Louis Home Purchase Questions

Found the home of your dreams! Oh no, it needs updating?

So you’ve found that home of your dreams, except you don’t like the interior design, it’s not functional or just downright unlivable in it’s current condition.
The next big question you ask yourself is, “How do I pay for the needed updates?”

If you have the money set aside having anticipating wanting a fixer-upper. Wonderful!

But if not there is a program called the FHA 203(k) Rehab Loan.

The FHA 203(k) Rehab Loan wraps the costs of renovation, materials and labor into your mortgage or if you already own refinancing. If you want to go with a simplified name just call it a home improvement loan.

A little background first…I know I know, not the boring stuff 🙂 but I promise to keep it short and simple.

First off it’s backed by the Federal Government through the FHA insured program. Meaning essentially you would have to be within FHA limits on the final cost after renovation when the final loan amount is complied and delivered from the lender.

Your cost can be as low as $5,000 on the renovation itself but there are basic requirements such as the house itself after renovation has to meet basic energy efficiency and structural standards.Minor or cosmetic repairs by themselves are unacceptable: however, they may be added to the minimum requirement.

You could do a total rebuild if you qualify, meaning you demolish the existing house and build your own right on that land as long as the existing foundation remains in place.

I know this is a dream kitchen for most of us:

Photo courtesy of and copyright Free Range Stock

There are a few things that are definitely excluded from the renovation costs such as exterior upgrades like pools or non-essential improvements in that category.

Here is a part of the list of what can be done in your renovation (courtesy of HUD.gov):

A. Structural alterations and reconstruction (e.g., additions to the

structure, finished attics, repair of termite damage and the

treatment against termite infestation, etc.)

B. Changes for improved functions and modernization (e.g., remodeled

kitchens and bathrooms).

C. Elimination of health and safety hazards (including the

resolution of defective paint surfaces and/or lead-based paint

problems on homes built prior to 1978).

D. Changes for aesthetic appeal and elimination of obsolescence

(e.g., new exterior siding).

E. Reconditioning or replacement of plumbing (including connecting

to public water and/or sewer system), heating, air conditioning

and electrical systems.

F. Roofing, gutters and downspouts.

G. Flooring, tiling and carpeting.

H. Energy conservation improvements (e.g., new double pane windows,

insulation, solar domestic hot water systems, etc.).

I. Major landscape work and site improvement, patios and terraces

that improve the value of the property equal to the dollar amount

spent on the improvements or required to preserve the property

from erosion.

J. Improvements for accessibility to the Handicapped.

K. Related fixtures such as new cooking ranges, refrigerators and other

appurtenances, as well as general painting are also eligible, however,

it must be in addition to the $5,000 requirement.

Now that you have a better picture of how the FHA 203(k) Program could work in your favor, it might put getting the home you want within reach and at a cheaper cost than buying a completely finished, updated and upgraded home straight from the market.

If you have questions or want to know what’s on the market, click here to start your search St. Louis Real Estate

Feel free to call me Tamara Liggins @ 314.677.6104

Most importantly make sure you are choosing a lender that knows the program and can guarantee you results on financing.