THE LAFAYETTE REPORT

We are looking forward to the following speaking engagements on using social media and technology to market and sell real estate.  Here is the current line-up:

MARCH 4 - WOMEN'S COUNCIL OF REALTORS® - METROPOLITAN ST. LOUIS - TECHNOLOGY PANEL

Topics will include:

• Use of Video to Market and Sell Homes
  
• Creation of a Photo Blog
• Blogging – A REALTOR'S Perspective
  
• Tech Gadgets
  
• WCR Live - St. Louis Broker Conference Call - Using Talk Radio Shows/Podcasts
• WCR Social Media

For more information on the program, visit:  www.WCRSTL.org.

APRIL 22 - KANSAS CITY REGIONAL ASSOCIATION OF REALTORS® - SOCIAL MEDIA PANEL

Topics will include:

• Blogging for Business - ActiveRain and Other Platforms
• LinkedIn Strategies - No Longer the Redheaded Stepchild of Social Media

For more information on the program, visit:  www.kcrar.com.

JULY 8 - WOMEN'S COUNCIL OF REALTORS® - ST. CHARLES COUNTY - SOCIAL MEDIA

Topics will include:

• The Don’ts of Social Media – Common Mistakes
• 5 Social Network Strategies to Build Your Business (LinkedIn/Facebook/Twitter)
• Blogging for Business – Topics that will Drive Business to You
  
• Google Tools for your Business and Other Tech Gadgets
  
• Social Media Resources

For more information on the program, visit:  www.wcrstcharlesco.org.

We hope to have a few more training events scheduled in the next week, including a program focusing on the use of technology and social media by professional association.

NEED A SPEAKER FOR YOUR NEXT SALES MEETING?  Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or by e-mail to Ryan@PREASignatureRealty.com.

LAFAYETTE SQUARE HOUSING REPORT - 2009 CONDO SALES

Interested in purchasing or selling a condominium in Lafayette Square?  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 or our blog at www.LafayetteReport.com.

HISTORICAL TRENDS

The Lafayette Square housing market as a whole continues to outperform compared to trends in the St. Louis City and St. Louis Metropolitan Statistical Area.  Despite this good news, condominium sales in Lafayette Square remain flat compared to 2009.  Here are some general comments about trends in the Lafayette Square housing market relating to condominium sales:

• Condominium sales in Lafayette Square remain flat with 2009 condominium sales to be slightly above the sales volume for 2008 condominium sales.
• The average sales price for condominiums in Lafayette Square in 2009 fell 19% compared to 2008.
• The average per square foot price for condominiums sold in Lafayette Square remained flat from at $122 per square  foot in 2009 compared to $128 per square foot in 2008.
• The sales price to list price ratio for condo sold in Lafayette Square remained constant at historical levels of approximately 95% of list price in 2009.
• The average number of days on market for condominium sales in Lafayette Square spiked from 182 days in 2008 to 252 days in 2009.
• It is unclear what impact new construction sales in Lafayette Square has had on the overall condo statistics.  Developers in Lafayette Square report new construction sales in different manners with some sales not listed in MLS and other sales included in MLS but reported as withdrawn as opposed to sold.

2009 MARKET DATA

Interested in listing your condo or loft in Lafayette Square for sale?  Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.

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The Missouri Housing Development Commission approved on December 18, 2009, a $35 million economic development package which included $15 million to fund a new Real Estate Tax Assistance Program.   The new Real Estate Tax Assistance Program  is intended to provide funding for the payment of the first year of property taxes for qualified home buyers who purchase a new or existing home after January 1, 2010.   The new Real Estate Tax Assistance Program also includes funding for energy efficiency and energy conservation repairs and improvements. 

Here is an overview of the new MHDC Real Estate Tax Assistance Program:

• Who is Eligible for the MHDC Real Estate Tax Assistance Program? Purchasers must meet the ncome eligibility guidelines set by the MHDC.  Depending on the location of the home, the household income limit guidelines for low to moderate income persons or families range from $58,300 to $98,560.
  
• What Property is Eligible for the MHDC Real Estate Tax Assistance Program?  The assistance grants under the new MHDC program are available only for owner-occupied purchases only.
• When does the MHDC Real Estate Tax Assistance Program Start?  The assistance grants under the new MHDC pgraom are available for properties purchased after January 1, 2010.  The funding for this program is limited and is available on a first-come, first-served basis.
• How much of the Property Tax Bill could be Paid under the MHDC Real Estate Tax Assistance Program? Income qualified purchasers are eligible to receive $1,250 or the amount of their first year's real estate tax bill, whichever is highest, when they purchase a new or existing residential home. An income-qualified individual or family can enhance this base amount, up to $1,750, if they purchase an energy-efficient new home or make energy efficient improvements to an existing home that is purchased. These improvements must be made prior to closing or within 60 days of closing. 
• How do Missourians Apply for Assistance under the MHDC Real Estate Tax Assistance Program?  The MHDC will be issuing program guidelines, forms and affidavits to be executed at closing for this program shortly.  Additional receipts and documentation will be required for proof of energy efficient improvements.
• What Energy Efficiency and Conservation Improvements and Repairs are Eligible for the Additional Incentive under the MHDC Real Estate Tax Assistance Program? Eligible improvements include installing high-performance windows, house wraps, programmable thermostat controls, water-efficient toilets and faucets, and energy-efficient water heaters, lighting and appliances; sealing heating and air conditioning ductwork; caulking; insulating water heater pipes; increasing the R-value of insulation in crawl spaces and attics; and conducting on-site energy efficiency inspections and tests, including a blower door test, which tests the overall energy efficiency of the house, and a duct blaster test, which tests how much the air ductwork leaks.

Purchasing a new home in the City of St. Louis?  Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 to discuss how the MHDC Real Tax Assistance Program, Federal Tax Credit, and other programs can be used to assist you in purchaing your new home.

On December 6, 2009, the Metropolitan St. Louis Chapter of the Women's Council of Realtors announced the members selected for the 2010 Leadership Program.

The Leadership Program is a pilot program developed by the Metropolitan St. Louis Chapter to identify future WCR leaders and to provide them with intensive leadership training.  The program includes:

• Self-Study
• Seminars and Other Workshops
• Networking Events with St. Louis Women Business Leaders
• Attendance at the WCR National Leadership Summit
• Class Project focusing on Projects intended to Develop New WCR Programs and Improve Existing WCR Programs

Congratulation to Michelle Silies. Managing Broker of PREA Signature Realty, on her inclusion in the 2010 Leadership Program.