The "Best Quality" New Construction, $500,000-1 Million

So I've been reviewing what's out there in WKG for buyers wanting a new house in an old neighborhood. For the sake of this discussion, a few points to mention.

1. I'm looking at the house itself, not so much lot, location or overall value of the property. Those things are worth talking about, but I get a lot of questions about what new construction is well-built and what isn't.



2. Builders tend to "Design, Sell, Build, Repeat". They generally use the same sub-contractors over and over, so quality, as it relates to builders, is what it is...consistent.



3. I'm considering "New Construction" to be less than 2 years old. Around WKG, that's "new enough" for most buyers.

Here's my short list of good stuff:

136 Reavis Place in Webster Groves. Classic interior finishes and everything (except the basement) is finished. True craftsmanship and I LOVE screened in porches! My wife would kill for this 3rd floor.

107 Morningside in Kirkwood. I know, I know, it's 2 doors from Lindbergh Blvd., but this is about the house, remember? Hayden Homes built this one in 2007 and it's a very stylish home. Lots of cool features, unless you're morally opposed to the exterior color!

802 Oakway Place in Glendale. Our office has this one listed and this builder, Scharf Custom Homes, has completed many infill projects around town. It's the "not-so little" stuff that sets this one apart from the boxey, sea of "siding-carpet-drywall" homes that our buyers consistently reject.

This photo shows at least 5 high quality features: wood treads on the steps, wainscoating up the staircase, arched openings fully trimmed, crown in the foyer, etc.

Horrible MLS Photo of the Day

Nothing says "Welcome Home!" like a warning label.

6th Annual Ivory Crockett Run 4 Webster - Oct. 3

This fun event is named for Ivory Crockett, who went to Webster Groves High School from 1962-1966. For a period of time beginning in 1974, he was "The World's Fastest Man" (our very own Usain Bolt!), owning the world's record for covering the 100-yard dash in 9 seconds.

My wife and I love to be a part of local races like this in Webster, Kirkwood and Glendale (WKG), either by sponsoring these great events financially, volunteering (which I don't do nearly enough), or actually running in them. It's really fun to race through the neighborhoods and see our friends and neighbors who love to run as much as we do. I especially like that this event offers a 110-yard dash for kids under 12.

Last year, more than 500 people participated in the race and this year should be another great turnout. Click on the title of the blog post to be connected to the registration information, or contact the Sports Medicine and Training Center at 314-961-3787!

Three Best Buys in Glendale, Right This Minute

Glendale has 33 homes for sale right now, with a real "hodgepodge" of over-priced lemons, corner lots on busy streets and major fixer-uppers. Prices range from $149,900 (each) for a pair of uninhabitable tear-downs to $799,900 for 5 bedrooms on a half acre.

There are, however, a few bright spots. Here's a short list of the best buys in the bunch:

1303 Monier Pl., $199,900

798 Venneman Ave., $205,000

935 Glenway Dr. $249,900


Even for these, price adjustments may be in order, but it's slim pickins for Glendale buyers at the moment. I'll be watching closely to see how they go.

The market could easily handle several more quality listings all the way up the line.

Ask John

Q. "Why does a sound house in a sound neighborhood NOT sell?"

A. This is a great question and a huge point of frustration for sellers and listing agents. The fact is that their IS a buyer for every property in our market. In my experience, there are two reasons that listings "expire", or fail to sell.

The first reason is that sellers can't/won't do what it takes to sell the property, financially speaking. In many cases, market values have dropped and the mortgage balance hasn't. Reducing the price just isn't an option, despite the knowledge that the market price should be much lower. Another common scenario, in Webster, Kirkwood and Glendale in particular, occurs when sellers have limited cash reserves on hand to make improvements to a property that just doesn't look very good. In short, the MARKET is saying the price is too high and the seller just can't/won't respond.

The second reason homes fail to sell falls on us Realtors. Too many agents can't/won't/don't know how to express to a seller the aforementioned "what it takes to sell". We leave sellers blind to the realities of their property and the market of which it's a part. Does it look terrible? Do the buyers hate the kitchen? Is anything else selling around it? We, the experts, have to lead the way down the path of success.

Sometimes the truth hurts, but 200+ days on the market hurts every time.

The Most Expensive Home Sale This Week

The most expensive home to close during the last 7 days in WKG is this home at 1318 Kendon Dr. in Des Peres. It's a lovely 50's ranch with a great yard and a pool. 3bd/2.5ba, around 2,300 s.f. The surprising part?







Sale price...$343,000!!!!!


I've been watching the slowing of higher end WKG all year, but this is an amazing statistic. Just a very slow month in terms of high dollar sales. That leaves 196 homes on the market priced higher than $343,000. Yikes.

The GATOR is coming to Glendale!!

This is a really fun event with a family-friendly, small-town feel. It's a short, simple bike ride through Glendale that I have been proud to support for the last year or two.

Just Click the title of the post above to be connected to the event details. See you there September 26!

The World Is Your Oyster...As Long as Your Oyster is About 20 Square Miles

I am so excited to be able to share the latest news along with my analysis of real estate (as in, houses) AND real estate (as in, making my living in the industry of houses) . Of course I realize there are a million blogs out there, but this one will focus squarely on "This Real Estate Life".

What does that mean? Here's a slice: 11 years, about 600 transactions, around $100 Million in sales. 5 kids from 2-10, working in an office along side both my mom AND dad AND sister, building a team of top agents. Lots of late nights, weekends, occasional tense deals, and the frequent satisfaction of happy clients enjoying a new home. Lots of successes, lots of failures. Overall, a terrific ride.

Why should I care? I DON'T KNOW...however, every single day, people ask "How's the market?" Increasingly, they also ask "Are you selling anything?" I'll HONESTLY answer both questions here on a daily basis.

My own neighborhood (Glendale) and our immediate neighbors (Webster Groves and Kirkwood), without question, are right at the top of the list of where to live in St. Louis. I'm not talking about "status", I'm talking about good old fashioned quality of life. That is a subject that I'll be coming back to over and over again. I'll talk about neighborhood events, houses that matter and offer advice to our clients, friends and neighbors.

More than anything, I welcome your insights, thoughts, comments and questions. Let's have some fun with this, not take it too seriously and sort through what's going on out there.