Alderwoman Kacie Starr Triplett proposed a new bill to the BOA recently. Her plan calls for more accountability from the owners of vacant properties. I believe there was a bit of concern from the real estate community about calling attention to these buildings with signs. And for some buildings I see the point. We certainly don’t want to advertise the susceptibility of some properties. There is just too much risk that the copper, HVAC systems and millwork will be stolen from unprotected places. The intention of the sign is to give people access to the owners of the building, but I think the fear is that the sign will just advertise ACCESS. But really, do you think a sign in front of the building below will be the one clue to its vacancy?

Personally I am in favor of the bill. I would love to have immediate access to the owners of some of these buildings, simply to see if they’d be willing to sell it to someone with the intentions and means to improve it.

From the August 2008 edition of Harper’s.

1. Chance that a US home is currently vacant: 1 in 35
2. Rank of this among the highest recorded vacancy rates in US history:1
3. Percentage change between 1989 and 2007 in the median price of a single-family home:+130
4. Percentage change in the median down payment: +3.7
5. Percentage of homeowners who reported last year that they bought a car using a home equity loan:27

Sources for this info:

1-2, US Census Bureau

3-4, National Association of Realtors

5, Synergistics Research Corporation, Atlanta

Yesterday we found this guy running alone in front of our Circa Office. He had no collar or tags. We took him to the Human Society to see if he was chipped but no luck. We have called both Stray Rescue and Mutts and Stuff. Both organizations say that he will be adopted quickly because is a blue pit bull, but they have no one to foster him at this time. If anyone is interested in fostering him for a week or so, Stray Rescue can pay for all of his expenses. He is very sweet and likes tummy rubs. According to the Humane Society he is approximately 2 and is not neutered. Please email me if you think you can foster him.

In an article posted on July 14th 2008, Forbes.com ranked St Louis the third best city in which to buy home, just behind Austin and Houston.

The article examined “the country’s 40 largest metropolitan areas and looked at where home prices have appreciated over the last two years.” Statistics came from the US Census Bureau and the National Association of Realtors and measured vacancy rates and pricing information. This information was used to locate the cities where people are buying to live vs. investing to turn a quick profit. The cities that are ranked the highest are those where it makes more sense to buy rather than rent. The example used in the article highlights Cleveland and San Jose. The average monthly rent in Cleveland was determined to be $702 while in San Jose is it was $1612. In Cleveland a mortgage payment with taxes and insurance would be roughly the same but in San Jose a mortgage based on the median home price would be closer to $4000 a month.

According to the article, “with a family friendly culture, and a steadily appreciating median home price of $145,400, the “Gateway to the West” is a great place to buy a home.”

Check out 2634 Minnesota to view a home near the median price point determined by the article.