LAWSUIT OVER COMMISSIONS

Monday, March 18th, 2024

If you have been following out industry’s news, you may be aware of a lawsuit regarding real estate agent's representation and commissions.  The suit filed in April 2019 brought into question the responsibility of sellers to pay the buyer’s agent’s commission.  A verdict was delivered in October 2020 and some settlements are currently being made.  Though it is uncertain how and when, a change is most likely coming for our industry and we have and will be watching as things develop.

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Karleen O. Hoerr Joins Gladys Manion Real Estate

Monday, January 16th, 2023

Karleen O. Hoerr has been matching clients and their real estate needs for almost 50 years. She began selling homes in the Skinker-DeBaliviere neighborhood (where she still lives) and has expanded her scope to the central corridor of St. Louis. Karleen served as chair of the Skinker-DeBaliviere Community Council and was the president of the Skinker-DeBaliviere Housing Corporation – she still sits on their Residential Housing and Zoning Committee – and was on the founding board of Forest Park Forever and on the board of the Central West End Association. She currently supports the Girl Scouts, New City School, and UMSL.

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October Market Update

Monday, November 7th, 2022

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 |Year over Year Change
Central Corridor
𝐀𝐯𝐞𝐫𝐚𝐠𝐞 𝐒𝐚𝐥𝐞 𝐏𝐫𝐢𝐜𝐞 $608,269 |+5.3%
𝐀𝐯𝐞𝐫𝐚𝐠𝐞 𝐏𝐫𝐢𝐜𝐞 𝐩𝐞𝐫/𝐒𝐪𝐟𝐭. $252 | +4.1%
𝐇𝐨𝐦𝐞𝐬 𝐒𝐨𝐥𝐝 157 | -14.2%
𝐀𝐯𝐞𝐫𝐚𝐠𝐞 % 𝐨𝐟 𝐋𝐢𝐬𝐭 𝐏𝐫𝐢𝐜𝐞 𝐏𝐚𝐢𝐝 99.5% | +0.2%
𝐀𝐯𝐞𝐫𝐚𝐠𝐞 𝐃𝐚𝐲𝐬 𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 31 | -20.5%
𝐌𝐨𝐧𝐭𝐡𝐬 𝐒𝐮𝐩𝐩𝐥𝐲 𝐨𝐟 𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 1.8 | -18.2%
𝐀𝐜𝐭𝐢𝐯𝐞 𝐋𝐢𝐬𝐭𝐢𝐧𝐠𝐬 330 | -27.6%
 
 
Instant Reaction: Mortgage Rates
'The Federal Reserve approved another jumbo rate hike, but mortgage rates still dropped below 7% last week. According to Freddie Mac, the 30-year fixed mortgage rate fell to 6.95% from 7.08% the previous week. Investors usually react based on their expectations and don't wait until the day the Fed makes its move. It is also promising that this was likely the last rate hike of this magnitude, as indicated by the Fed.
 
A return to the sky-high interest rates of the 1980s isn't likely in today's economy, but let's compare the monthly mortgage payment now with the payment of 40 years ago in today's money. In real terms, after adjusting the median home price for inflation, the monthly mortgage payment was about $450 higher in 1982 than it is now. If mortgage rates were currently 9%, the monthly mortgage payment would be comparable to 1982 rates. Thus, in real values, current buyers pay less for their home purchase than buyers who purchased their home 40 years ago, although home prices are significantly higher now."
- Nadia Evangelou, Senior Economist NAR
 
#Since1936 #GladysManion #STLRealtor #LuxuryRealEstate #STLRealEstate #StLouis #STLRealtor #SellingSTL #StLouisLuxury #StLouisRealtor #Clayton #LuxuryEstate #Ladue #TownandCountry #Brentwood #Kirkwood #RichmondHeights #Chesterfield #Frontenac #CWE #WebsterGroves #STLHomes #SaintLouisRealEstate #SaintLouisRealtor #MoveToStLouis #STLCity

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Gladys Manion, Inc. is pleased to welcome a new agent to its real estate team: Cameron Marino

Wednesday, October 5th, 2022

Cameron Marino joined Gladys Manion Real Estate as a Residential Real Estate Specialist in August 2022. Cameron, the youngest of three and born into an entrepreneurial St. Louis family, has worked for the family catering/hospitality business since childhood. Customer service and people skills are in his blood. He attended CBC High School and studied business at the University of Missouri-St. Louis. Working in the hospitality industry for many years, Cameron learned a lot about working with others and how to meet their needs. He is looking forward to applying that knowledge to his real estate business.

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