This post is part two of our series on the similarities and differences between Missouri and Illinois, and what they mean for finding a house in the St. Louis Metropolitan area. You can read our first post on the differences between the two states here.
The Mississippi River might seem like a huge barrier between Missouri and Illinois, but it’s actually less than a mile wide. The two states share a lot of traits, especially in terms of real estate. If you have ever considered buying a home across the river—whether that means going east into Illinois or west into Missouri—the real estate process is mostly the same. But there are a few differences worth noting.
As we write this, real estate is experiencing a strong seller’s market. Not only is it easy to find a buyer in almost every part of the country, but bidding wars are also common. But before sellers get too excited about their profits, they need to remember that they won’t simply walk away with the sale price minus the balance left to pay on their mortgage. They must also consider seller closing costs.
When looking at homes for sale, buyers are likely to hear the term “fixer-upper.” While they may have a general idea of what that means, they might be less clear about how that house might differ from one described as “needing some TLC” or one that is advertised as “perfect for flipping.”
A fixer-upper can be a dream come true—or a total nightmare. The outcome often boils down to these questions:
Like any industry, the world of real estate comes with its own rules and lingo. Since buying a house isn’t something most people do all the time, the process can seem confusing and mysterious. For first-time homebuyers, the fear of the unknown can create a lot of anxiety. But even someone who has bought numerous houses in the past might be concerned that things have changed since their last purchase—or because of the pandemic.
There is nothing quite like that very first home for first-time buyers. Buying a house is a big step that can be exciting, terrifying, and everything in between. Realtors who help find homes for first-time buyers are used to answering a lot of questions and walking clients through the process. We’ve compiled some of their best tips and advice.
You’re about to form a very meaningful relationship. No, we’re not talking about dating or getting married. We’re talking about the kind of partnership you need with your real estate agent when you decide to buy or sell a house. And while you’re not committing to spending a lifetime with them, the bond must be one based on trust and communication.
Two things you can always count on at this time of year: A recap of the past year, and predictions about the one that’s about to begin. Since 2020 was...let’s call it unpredictable...forecasts for 2021 are sure to generate a lot of interest.
Everyone selling a home has the same things on their wish list. They want to find a buyer fast, have a stress-free sale, and get the best possible offer. And when they accept an offer, no one wants to feel like they’ve left money on the table.
Real estate is often described as a good investment, and in most cases, owning a home has more financial benefits than renting. But what about taxes? Is buying a home tax deductible? Unfortunately, if home buyers are expecting big tax write-offs, they are likely to be disappointed.
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