This weekend is the 15th annual Grand South Grand House and Garden Tour. You can view the Magic Chef Mansion located on Russell Blvd across from Reservoir Park and the Tower Grove Park Director’s House. This is the house located inside Tower Grove Park near the intersection of Tower Grove Ave and Magnolia.

Tickets are $15 in advance and $18 the day of the tour and can be purchased at Gringo Jones Imports, Botanicals Design Studio, the Missouri Botanical Garden in the Garden Gate Gift Shop, or over the phone by calling 314.773.4844. See the website for complete details. Tour is on Saturday and Sunday, April 19th & 20th from 11 am to 5pm.

The city, as one finds it in history, is the point of maximum concentration for the power and culture of a community. It is the place where the diffused rays of many separate beams of life fall into focus, with gains in both social effectiveness and significance.

The city is the form and symbol of an integrated social relationship; it is the seat of the temple, the market, the ball of justice, the academy of learning. Here in the city the goods of civilization are multiplied and manifolded; here is where human experience is transformed into visible signs, symbols, patterns of conduct, systems of order.

Here is where the issues of civilization are focused: here, too, ritual passes on occasion into the active drama of a fully differentiated and self-conscious society.

Want to live walking distance to Bailey’s Chocolate Bar, 33 Wine Bar, Marbles Yoga Studio, Sqwires, 1111 Mississippi, Ricardo’s, Arcelia’s and much, much more? Well now you can and for a very affordable price. 1729 Preston is move in ready and waiting for its new owners.

The home is located on side street off of Lafayette which dead ends so it is very private. The yard is huge and fully fenced with plenty of trees which makes a nice buffer since I-44 runs along the south side of the street. Once inside the hum is inaudible.

The formal entry way is just an indication of what this home has to offer in the way of originals and built-ins. The wood is beautiful making the entry a very functional show piece.

Off the entry is the a set of French doors leading to the dining room. Around the fireplace are floor to ceiling built-in bookshelves. The oversized window makes this cozy room bright.

The living room is just off the kitchen and the circular floor plan makes this home great for entertaining.

The floors are gleaming and the decorative fireplaces are original to the home.

Off the kitchen is a large screened in porch. It will easily accommodate a table of six and will be great for dining alfresco

And the oversized lot offers plenty of opportunity for gardening.

Almost 250 years ago Pierre Laclede and Auguste Chouteau founded the city of St Louis several miles below the confluence. On the west bank of the Mississippi on a bluff they found a place safe from flooding on which they decided to build. On February 14, 1764 Chouteau, who was only 14 years old, led a crew of men and as legend has it began to build the village on the grounds where the Arch now stands.

Building out of the flood plain, turns out to be a pretty good idea. And now 250 years later St Louis residents have the opportunity to live along the mighty Mississippi again, far above the threats of the water.

Mississippi Bluffs has been a long time coming, but it is here. I went out this morning to take some pictures. In light of the recent flooding I thought it would be a good idea to highlight what a 14 year old boy knew instinctively.

Below is a site plan. The Mississippi is at the top and Broadway is at the bottom. There will be 4 buildings. Two buildings will have 8 units, two will have nine. There will be 3 different floor plans, each with three balconies from which to view the Mississippi.

The site plan includes a 6-acre park and pool area complete with scenic overlook and fire pit.

I hung out awhile to enjoy the scenery and watch the river. I also took a few shots of the construction. The first building is up and has a total of 8 units. Three are already three under contract. I was standing in the 6-acre park when I took this photo.

Here’s another from a different angle. This is the eastern elevation. I was standing on an old platform that was used for a cannon. The steps are new and the old platform will be another over look/common space for residents.

View of the Mississippi from the cannon over look.

There are a total of 34 units. There are 16 A-units (1870 interior sq. ft), 10 B-units (2187 interior sq. ft.) and 8 C-units(2396 interior sq. ft). Both B & C have the option of adding a private elevator. For the first building A units are being offered at $429K with prices going up to $459K for the second building. B units are $499K increasing to $529K and C-units are currently $599K with an increase to $609K for the next phase. The display should be open by end of April, beginning of May but feel free to go out on weekends to visit the site in the meantime. Or call our office or me directly for more details.

Check out my new listing at 1412 Hebert. It is gorgeous. This is the view from the front door into the living room and through to the dining room. My favorite part about this room, next to the great natural light and the gleaming hardwood floors are the built-in bookshelves. This is just one of the thoughtful treatments done during the renovation of this home.

This photo looks into the dining room from the kitchen. The stairs featured lead to the second floor. The open floor plan is ideal for entertaining.

This kitchen is one of the smartest layouts I have seen. Notice the opening between the dining room and kitchen and how neatly the dishwasher fits there. Also notice that the space doesn’t feel cramped or dark. It is the cut out in the doorway that doubles as extra counter space that makes this arrangement possible. It doesn’t seem like anything special until you realize that most homes would have either lost the space for the dishwasher or closed in the opening, losing the view and the light. The cabinets in this kitchen are solid wood, hand-made and over sized, meaning that they utilize all the storage space offered with these high ceilings. The counter-top is stile stone meaning that you can actually use it and there is under cabinet lighting as well as upgrade stainless appliances. I could go on about the kitchen, but there are some other unique features about this home that deserve a quick highlight.

The second floor deck complete with ceiling fan and view of the arch may very well be my favorite part of the home.

But the extra deep with yard with artisan fence is a close second.

SOOOOOOO much has been going on in ONSL just in the last 12 months. It is refreshing to see what a group of dedicated citizens and a well run community-based non-profit organization can do in the way of revitalization. Progress is being made on so many levels. The 14th Street Mall, is in the midst of its 30+million dollar redevelopment. And on a smaller scale there are many single building rehabs already finished or in the process of complete renovation/restoration.

1412 Hebert, in my very humble opinion, is going to sell fast. I am not saying that there are not thoughtful and thorough renovations done in other parts of the city. But you’d be hard pressed to find this kind of attention detail 200K. 1412 Hebert sits on one of the best blocks in ONSL where the homes are stately and owner occupied. It is walkable to the 14th Street Mall and not to far from the New Roots Urban Farm

42123 McDonald Avenue in TGS is currently for sale and listed at $129,999. Not your typical TGS house, this is a one of kind. Sort of..I guess it is really one of 2498. That is how many were produced before the company went bankrupt in the 50’s. The Lustron was America’s earliest experiment with prefabricated mass-produced housing. Click here for a bit of history. Or here for something a little more local.

Please mark your calendars for our evening event!

Friday 2/29 from 5:30-7:30pm

Circa Properties, McAvoy Realty and ReMax Results have joined together to offer an opportunity to experience what the Old North St. Louis neighborhood is all about: diverse living options in an inspirational, redeveloping neighborhood on St. Louis’ near north side!

With downtown visible from many home’s doorsteps, the ONSL neighborhood is the place to be, and now is the time to learn more and select your new home before the secret’s out of the bag!

All four of the houses listed below will be open for you to view and each will have an assortment of food and drinks, so please stop by on your way home from work and see what ONSL has to offer.

1412 Hebert: 3 bedroom, 2 bath single family home,

2833 N. 14th Street: 3 bedroom, 2.5 bath condo

1319 N. Market St. 3 bedroom, 2.5 bath

1208 Hebert St. 3 bedroom, 2.5 bath

*Sponsored in part by Bankers & Lenders Title Company and Pulaski Bank

**A collaborative open house event by Circa Properties, McAvoy Realty & ReMax Results

I showed this to one of my clients last week. Lucky for everyone else, it isn’t what she is looking for. But it is perfect for someone. It is just waiting for it’s next life as a bed and breakfast, antique store, art gallery daycare/family home or any of the other endless possibilities. This is such an interesting building and is in such great shape, I hate to see it just sitting there.

This building was the former rectory of the church next door. The church sold last year for 250K and the rectory is for sale now for 118K. There are at least 8 bedrooms. The kitchen needs work but has a complete set of Geneva cabinets. The radiator is still pumping away and has probably been serviced every year since it was installed. The tax records record this at 1925 square feet but there’s no way that’s true. This place is massive. Entering from the front there is formal wood staircase and two formal parlors each with art deco style mantles fully intact and in great shape. Beyond the reception area there is another suite of rooms that look as if they were used as offices. Around the corner is the informal parlor. From there pass thru the butler’s pantry into the kitchen. On the second floor there is a suite with sitting room another great looking mantle, bedroom and private bath. In the rear of the building on the second floor there’s another parlor with mantle, a few more bedrooms and a full bath. The third floor is small with two small rooms.

The building has been well kept and in most cases untouched where you would hope it would be…the millwork and wood floors. However, certain questionable upgrades have been installed over time. The dropped ceiling and dark paneling will have to go and there are signs of water damage from the flat roof on the second floor. But the foundation looks great and the house feels solid.

Here’s a link to the MLS lisitng. Unfortunately the listing doesn’t show the correct photo. This isn’t a Circa listing but anyone in our office would be happy to help you tour it if you are looking to buy a unique space and aren’t afraid of a little work.

There are so many things I like about this new listing. First is the price. For $154,900, you get gorgeous finishes with quality system updates. Between October of 2005 and March of 2006, this home was taken down to the studs and rebuilt with new wiring, new plumbing and new HVAC system. New wood floors were installed on the first floor and the original wood was sanded and refinished upstairs. The kitchen has 42″maple-stained cabinets and stainless appliances and the bathroom was completely gutted and finished with ceramic tile and new fixtures.

There are tons of renovations in the city. Many are so similar that they just blend together. This one, while being neutral, still has many significant details that set it apart from others.

View the site at: 3231hartford.com, or continue reading below…

Read the rest of this entry

This was sent to me a from Kelly Dent a lender at Wachovia. Her contact info is below, if you have further questions.

Mortgage Rates

To understand why mortgage rates change we must first ask the more general question, “Why do interest rates change?” It is important to realize that there is not one interest rate, but many interest rates!

Prime rate: The rate offered to a bank’s best customers.
Treasury bill rates: Treasury bills are short-term debt instruments used by the U.S. Government to finance their debt. Commonly called T-bills they come in denominations of 3 months, 6 months and 1 year. Each treasury bill has a corresponding interest rate (i.e. 3-month T-bill rate, 1-year T-bill rate).
Treasury Notes: Intermediate-term debt instruments used by the U.S. Government to finance their debt. They come in denominations of 2 years, 5 years and 10 years.
Treasury Bonds: Long-debt instruments used by the U.S. Government to finance its debt. Treasury bonds come in 30-year denominations.
Federal Funds Rate: Rates banks charge each other for overnight loans.
Federal Discount Rate: Rate New York Fed charges to member banks.
Libor: London Interbank Offered Rates. Average London Eurodollar rates.
6 month CD rate: The average rate that you get when you invest in a 6-month CD.
11th District Cost of Funds: Rate determined by averaging a composite of other rates.
Fannie Mae-Backed Security rates: Fannie Mae pools large quantities of mortgages, creates securities with them, and sells them as Fannie Mae-backed securities. The rates on these securities influence mortgage rates very strongly.
Ginnie Mae-Backed Security rates: Ginnie Mae pools large quantities of mortgages, secures them and sells them as Ginnie Mae-backed securities. The rates on these securities influence mortgage rates on FHA and VA loans.
Interest-rate movements are based on the simple concept of supply and demand. If the demand for credit (loans) increases, so do interest rates. This is because there are more buyers, so sellers can command a better price, i.e. higher rates. If the demand for credit reduces, then so do interest rates. This is because there are more sellers than buyers, so buyers can command a lower better price, i.e. lower rates. When the economy is expanding there is a higher demand for credit, so rates move higher, whereas when the economy is slowing the demand for credit decreases and so do interest rates.

This leads to a fundamental concept:

Bad news (i.e. a slowing economy) is good news for interest rates (i.e. lower rates).
Good news (i.e. a growing economy) is bad news for interest rates (i.e. higher rates).
A major factor driving interest rates is inflation. Higher inflation is associated with a growing economy. When the economy grows too strongly, the Federal Reserve increases interest rates to slow the economy down and reduce inflation. Inflation results from prices of goods and services increasing. When the economy is strong, there is more demand for goods and services, so the producers of those goods and services can increase prices. A strong economy therefore results in higher real-estate prices, higher rents on apartments and higher mortgage rates.

Mortgage rates tend to move in the same direction as interest rates. However, actual mortgage rates are also based on supply and demand for mortgages. The supply/demand equation for mortgage rates may be different from the supply/demand equation for interest rates. This might sometimes result in mortgage rates moving differently from other rates. For example, one lender may be forced to close additional mortgages to meet a commitment they have made. This results in them offering lower rates even though interest rates may have moved up!

There is an inverse relationship between bond prices and bond rates. This can be confusing. When bond prices move up, interest rates move down and vice versa. This is because bonds tend to have a fixed price at maturity––typically $1000. If the price of the bond is currently at $900 and there are 10 years left on the bond and if interest rates start moving higher, the price of the bond starts dropping. The higher interest rates will cause increased accumulation of interest over the next 5 years, such that a lower price (e.g. $880) will result in the same maturity price, i.e. $1000.

Kelly Dent
9717 Landmark Parkway, Suite 101
St. Louis, Mo. 63127
314.729.3904 Direct
314.729.3952 Fax
314.954.7735 Cell