Why you Should Invest in St. Louis Real Estate
Welcome back, property aficionados! If you’re just tuning in, you’ve landed smack dab in the middle of our deep dive into the St. Louis County real estate scene. But don’t fret; here’s a quick recap to get you up to speed.
Part 1 Recap:
- We started by painting a vivid picture of the Economic Landscape of St. Louis, highlighting the factors that make it a hotspot for investors.
- Next, we ventured into the High Growth Potential Areas within the county, pinpointing those neighborhoods and districts ripe for investment.
- And who could forget our exploration of the Benefits of Investing in Multi-family and Commercial Properties? We laid out the compelling reasons why these types of properties are gold mines in the making.
Now, as we embark on Part 2, we’re about to delve even deeper. Starting with a comprehensive look at understanding the local real estate market, we’ll equip you with the insights you need to navigate this dynamic landscape with confidence. From regulations to local trends and the unique offerings of Mogul Realty, we’ve got a lot in store.
So, grab your notepad, maybe a cup of your favorite brew, and let’s get started. The world of St. Louis real estate awaits, and trust me, you’re in for a treat!
Understanding the Local Real Estate Market
St. Louis County, with its rich history and diverse culture, has always been a focal point for real estate enthusiasts. But to truly grasp the potential of this market, one needs to dive deep into the numbers, trends, and underlying factors that shape its landscape. Let’s embark on this journey to understand the St. Louis County real estate market.
A Competitive Housing Landscape
The St. Louis housing market is nothing short of competitive. Recent data suggests that homes in St. Louis receive multiple offers and typically sell in just around 13 days. The median sale price of a home in St. Louis was $235K last month, marking a steady growth from the previous year. The price per square foot? A cool $152, up 2.0% since last year. These numbers not only highlight the demand but also the value appreciation that the region is witnessing. With more than half of the sales occurring over the list price, it’s evident that the market is leaning in favor of sellers. However, with some properties staying longer on the market, there’s room for negotiation, giving buyers a fair chance.
Migration Patterns: A Telling Sign
Migration trends offer a unique perspective on a city’s appeal. Interestingly, St. Louis has been drawing attention from major metros. Homebuyers from cities like Los Angeles, San Francisco, and Washington have shown increased interest in moving to St. Louis. On the flip side, while some are leaving St. Louis for places like Sarasota and Tampa, a whopping 82% of St. Louis homebuyers are keen on staying within the metropolitan area. This loyalty to the region speaks volumes about its charm and potential.
The Broader Picture: St. Louis MSA
Zooming out to the St. Louis Metropolitan Statistical Area (MSA), the average home value stands at $171,870, showcasing a commendable 7.6% year-over-year increase. Properties in St. Louis are moving off the shelves quickly, with an average time to pending of just 6 days. These metrics underline the fast-paced nature and competitiveness of the market.
Why St. Louis County Stands Out
Several factors make St. Louis County a gem for real estate:
- Affordability: The average home value in St. Louis is significantly lower than the national average, allowing investors to enter the market at a lower price point.
- Rental Market: With a high demand for rental properties and rising rental rates, St. Louis presents a golden opportunity for those eyeing passive income.
- Job Market: Home to major companies spanning healthcare, biotechnology, and finance, St. Louis boasts a growing job market, attracting young professionals and families alike.
- Urban Revitalization: Several neighborhoods in St. Louis are witnessing redevelopment, leading to increased property values and opportunities for early investment.
Navigating Real Estate Regulations in St. Louis
Ah, regulations. They might not be the most exciting topic, but they’re crucial for any savvy investor to understand. Especially when you’re diving into a market as dynamic as St. Louis County. Let’s demystify the maze of real estate regulations in this region so you can invest with confidence.
Zoning Ordinances: Know Where You Stand
St. Louis County has a comprehensive set of zoning ordinances that dictate how land can be used in different parts of the county. These regulations are designed to ensure that the use of land is consistent with the county’s vision for development, environmental protection, and public safety.
- Residential Zoning: There are multiple residential zoning categories in St. Louis, each with its own set of regulations. For instance, the “R-1” Residence District Regulations, “R-2” Residence District Regulations, and so forth, each have their own specific guidelines about what kind of residential development is allowed.
- Commercial Zoning: Commercial zones are also varied, with designations like “C-1” for Neighborhood Business Districts, “C-2” for Shopping Districts, and “C-4” for Highway Service Commercial Districts. Each of these zones has its own set of rules about what kind of businesses can operate there and what kind of structures can be built.
- Industrial Zoning: Zones like “M-1” and “M-2” which dictate the types of industrial activities that can take place.
- Mixed-Use Development: The “MXD” Mixed Use Development District is particularly interesting for investors looking for versatility, as it allows for a combination of residential, commercial, and even industrial uses in certain cases.
Property Maintenance Code: Keeping Standards High
St. Louis County has a Property Maintenance Code that ensures buildings and structures are maintained to a certain standard. This is crucial for ensuring the safety, health, and welfare of the community. The code covers everything from general building maintenance to specific requirements for landscaping, off-street parking, and more. As an investor, it’s essential to be familiar with these standards, not only to ensure compliance but also to maintain the value and appeal of your properties.
Navigating the Regulatory Landscape with Expertise
While the above gives a snapshot of the regulatory environment in St. Louis County, it’s just the tip of the iceberg. The county has a myriad of other regulations, from air navigation space regulations to specific requirements for telecommunications towers.
But here’s the good news: you don’t have to navigate this complex landscape alone. At Mogul Realty, we’ve been working in the St. Louis County market for two decades. We understand the ins and outs of real-estate.
Mogul Realty’s Unique Value Proposition
Alright, amigos! Let’s dive deep into what makes Mogul Realty stand out in the vast ocean of real estate agencies. With two decades under our belt, we’ve learned a thing or two about the industry. But it’s not just about experience; it’s about the unique blend of services and expertise we bring to the table.
All-In-One Real Estate Solution
Why juggle between multiple agencies when you can have it all under one roof? Mogul Realty is not just a real estate agency; it’s a full-service real estate solution. From buying to selling, from renovations to property management, we’ve got you covered. It’s like having a Swiss Army knife for all your real estate needs!
Specialized in Multi-Family Investment Properties
We’re not just generalists; we’re specialists. Our focus on multi-family investment properties means we have the expertise to guide you through the complexities of this niche market. Whether you’re a newbie or a seasoned investor, we can help you navigate the waters with confidence.
Expert Real Estate Agents with Local Knowledge
Our agents aren’t just experts; they’re locals. Familiar with every nook and cranny of St. Louis, they bring a wealth of local knowledge to the table. This means they can spot opportunities others might miss and avoid pitfalls that might trip up less informed agents.
STL Renovation Partnership
Ever found a property that’s almost perfect but needs a bit of TLC? That’s where our partnership with STL Renovation comes in. We can give you an accurate estimate of renovation costs and timelines, ensuring you never bite off more than you can chew. Plus, with our renovation experts by your side, you can transform any property into a goldmine.
Mogul Property Management
Once you’ve got that perfect property, managing it effectively is crucial to ensuring long-term profits. That’s where Mogul Property Management steps in. We ensure your investment remains lucrative, handling everything from tenant issues to maintenance, so you can sit back and watch your investment grow.
Our unique purchase-to-profit approach means we’re with you every step of the way. From finding the right property to ensuring it’s profitable in the long run, our holistic approach ensures you’re set up for success from day one.
A Legacy of Success
Two decades in the industry doesn’t just mean we’ve been around the block; it means we’ve built a legacy. A legacy of successful deals, happy clients, and a reputation that speaks for itself. When you work with Mogul Realty, you’re not just getting an agency; you’re getting a partner with a proven track record.
In summery, Mogul Realty isn’t just another real estate agency. We’re a one-stop-shop for all your real estate needs, backed by decades of experience and a unique blend of services that set us apart. So, whether you’re looking to invest in multi-family properties, need expert local advice, or want a partner who can guide you from purchase to profit, Mogul Realty is the name to trust.