January 5, 2018
Real estate y l k Wee
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If you’re one of the five million people who list their home for sale this year, the National Association of REALTORS® wants you to know that when it comes to selling a home, you’re better off using a REALTOR®. Someone who can get the job done in half the time, and can sell it for more than if you sold it on your own. That’s because REALTORS® are experts they have extensive experience staging the home, showing it and attracting qualified buyers to view it. Work with a REALTOR®, a member of the National Association of REALTORS®, they can explain options in your area that best fit your situation. To learn more, visit HousingMarketFacts.com. Figure based on The 2007 NAR Profile of Home Buyers and Sellers.
EvERy mARkET’S diFFERENT, cALL A REALTOR® TOdAy.
Mineral Area Board of REALTORS®. Farmington, MO 573-756-5576 MineralAreaREALTORS.com ©2008 National Association of REALTORS®
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Home of the Week.... 414 Trevor Ct, Bonne Terre/Desloge Area
Custom details abound in this meticulously cared-for home, conveniently located in a quiet neighborhood. This custom-built home includes crown molding, vaulted ceilings and archways that provide architectural interest in main living areas. Beautifully crafted vinyl shutter blinds are professionally installed throughout. Enjoy the expansive master suite with a jetted tub and two walk-in closets, one of which was built as a safe room. Relax on either side of the sleek, double-sided fireplace. A recent update is a brand-new Bryant Smart Stat HVAC with a Hi-Tech 3 Ton heat pump, including a programmable weather forecasting thermostat. Additional bonus room on upper level can be used as bedroom or entertainment room. More living space can be found in the sitting area on the main floor, leading out to the ceramic-tiled back patio. A fenced-in backyard allows for worry-free play for kids or pets. An over-sized, insulated two-car garage boasts plenty of room.
$172,900
573.747.8099 573.327.8300
CELL
17089694
e I’ll do th you! for running
OFFICE
Daily Journal Weekly Real Estate Friday, January 5, 2018 PAGE A2
A Realtor® can sell your home faster and for more than you could yourself.
1136B N Desloge Dr. - Desloge
Daily Journal Weekly Real Estate
PAGE A3 Friday, January 5, 2018
loanS balloon For bigger home PUrchaSeS Uncle Sam haS made borrowing more money a bit eaSier
by erik J. martin ctw FeatUreS
Some people like to dream big. others like to live big — literally, in a larger, more expensive home. but securing financing for such a pricey purchase can be difficult, as limits on conforming loans backed by the U.S. government typically only went so far. Until now, that is. Since 2017 began, the ceiling on con-
forming loans has been raised, giving you a bit more elbow and headroom in which to qualify for a maximum mortgage secured by Fannie mae and Freddie mac. today, the conforming loan limits are $424,100 (up from $417,000) in most U.S. counties, and $636,150 (vs. $625,500 previously) in costlier markets such as new york city and San Francisco. while the increase of a few thousand dollars may not sound like
much, it’s a big deal, say the experts. “although the loan limit increase isn’t substantial, it will ultimately create more buying ability, making mortgage financing a bit easier, particularly for buyers in high-cost parts of the country,” says theresa williams-barrett, vice president of consumer lending for affinity Federal credit Union in basking ridge, n.J. tyler case, mortgage loan officer for Pittsburgh-headquartered Pnc bank,
tyler case, mortgage loan officer for Pittsburgh-headquartered Pnc bank, agrees that the effect of the increases is limited but still positive for borrowers overall, especially those who would have otherwise needed to apply for a jumbo mortgage – a loan that surpasses the aforementioned conforming loan limits.
LOANS continued to Page a6
CELL
573.747.8099 573.327.8300
OFFICE
Daily Journal Weekly Real Estate Friday, January 5, 2018 PAGE A4
e I’ll do th you! for g n i n n ru
1136B N Desloge Dr. - Desloge
Vicky Crocker Realty is a top producing non franchised Real Estate office in the Mineral Area, helping clients buy and sell property within St. Francois County and surrounding Counties. We are dedicated to achieving results and providing exceptional service. If you are in the market to buy or sell a home, we’ve helped hundreds of families reach their real estate goals, and we want to help you too! Whether you are buying or selling, contact us today 573-327-8300, we have full time agents eager to help you!
Vicky Crocker 573-747-8099
I’ll Do The Running For You!
Abe Aubuchon
Broker
573-631-0136
Giving You Peace of Mind!
Amanda Lewis 573-915-2462
Moving You Forward!
www.facebook.com/vickycrockerrealty
Daily Journal Weekly Real Estate
WHat tO ExPECt WHEn yOu’rE insPECting
PAGE A5 Friday, January 5, 2018
After the price hAggling And before closing, home inspections Are An essentiAl pArt of the home-buying process. here Are the top 5 misconceptions By Erik J. Martin CtW FEaturEs
Considering that a home purchase is one of the biggest investments you’ll ever make, it’s smart to enlist the help of a professional home inspector prior to buying a property. However, many buyers aren’t aware of what to expect from the inspection and what to do with the results. to separate fact from fiction, here are 5 major misconceptions about home inspections: all home inspectors and inspections are
the same the truth is that around 30 states currently regulate the home inspection industry and require licenses, and even those that do may not require much training. “Even in states that have licensing requirements, there is a huge variation in the type of inspection you will get from each company. and just by having a license, you are not assured of getting a thorough inspection,” says kenneth Peter, certified home inspector and franchise owner with Pillar to Post Home inspectors in Boulder, Colo. “Comparing home inspectors and companies can be difficult, but you must
perform your own due diligence for your protection.” inspectors will find everything wrong with a property actually, a home inspection find major issues with major home components including the roof, structure, heating/cooling systems, attic, electrical, and plumbing. inspectors aren’t going to scrutinize small details, like broken blinds, minor carpet stains or other cosmetic items. “inspectors give a quick overview of glaring faults that can easily be found. For example, if they can’t gain access to an attic at the time of inspection, they
can’t find items there,” says kurt Wannebo, CEO and broker, san Diego real Estate and investments, san Diego. inspectors will issue a “pass” or “fail” grade on the home “not true,” says Bruce McClure, home inspector and author of “Buy or run” (inspectors international Press, 2013). “inspectors report on [the home’s] condition, and it’s up to the buyer to decide if they want to proceed with the sale. the inspector also shouldn’t comment on the price or recommend that the client buy or run.”
inspecting Cont. to Page a6
Friday, January 5, 2018 PAGE A6
Daily Journal Weekly Real Estate
6 TIPS TO CHOOSE THE RIGHT INSPECTOR
LOANS Continued from Page A3 agrees that the effect of the increases is limited but still positive for borrowers overall, especially those who would have otherwise needed to apply for a jumbo mortgage – a loan that surpasses the aforementioned conforming loan limits. “Those who need to secure financing between $417,000 and $424,100 and between $625,500 and $636,150, and who would not have been able to meet the more restrictive underwriting guidelines to obtain a jumbo loan, will be the main beneficiaries of this change,” Case says. Conforming loan limits increased for the first time in over a decade due to an increase in housing prices and home values nationally and to adjust for inflation. “The Housing and Economic Recovery Act of 2008 restricted government-sponsored enterprises like Freddie Mac and Fannie Mae from increasing these limits until real estate prices exceeded their pre-crises highs, which were reached around July 2006,” Case adds. Prospective buyers who need extra financial help in the form of a jumbo loan also have reasons to be optimistic, says Patrick Lamb, president of Scottsdale, Ari.-based Homeowners Financial Group. “Fortunately, as the real estate market has recovered, options for jumbo loan financing, including loans that require less than a 20 percent down payment, have significantly expanded,” Lamb says. “Because of the increased liquidity for jumbo loans, it’s become easier for homebuyers to obtain
financing for larger homes.” That’s not to say that obtaining a jumbo mortgage is a piece of cake, however. These loans are not sold to or securitized by government agencies; instead, they’re commonly sold to large banks, institutional investors or other private companies and are either held in portfolios or securitized through private residential mortgage-backed securities transactions. The fixed interest rate on jumbo mortgages may be higher, and you usually need a debt-toincome ratio of no higher than 43 percent, a credit score of 720 or greater, several months’ worth of backup savings, and a more established history of income. “But there are jumbo lenders out there that can go down to a 680 credit score or 10 percent down on an adjustable rate mortgage, in some cases,” says Andrew Saltman, CEO of Carbon Capital in Ponte Vedra Beach, Fla. As always, due diligence is essential when seeking financing. Prepare to shop around among different direct lenders, mortgage brokers, and mortgage bankers who also act as brokers; if you want to go jumbo, seek out a knowledgeable lender who works with numerous jumbo lenders/investors. Williams Barrett recommends first getting pre-qualified for a mortgage by working with an experienced mortgage professional who can help you understand the different program options and terms available to you. “Second, find a realtor to work with who can help you find your dream home,” she says. “And third, circle back with the lender who pre-qualified your mortgage to finalize the process.” © CTW Features
1. Get a referral to a reputable inspector from a trusted real estate agent or lender or your local Better Business Bureau. 2. Opt for an experienced professional who belongs to the American Society of Home Inspectors (ASHI) and/or the International Association of Certified Home Inspectors (InterNACHI). 3. Be sure the inspector has certification training and is licensed (in states where it’s required) and also has insurance for general liability and errors and omissions. 4. Ask to see a copy of an example inspection report to make sure it covers everything that’s important to you. 5. The inspection should take at least 2.5 hours and yield a written, thorough report that indicates defects and recommendations and includes digital photos. 6. Additionally, says Bruce McClure, home inspector and book author, “Ask yourself, ‘Is he answering all my questions? Is he explaining things clearly? Is he saying anything that doesn’t sound right, or have you seen something that you think he may be downplaying?’”
INSPECTING Cont. from Page A3 inspectors charge more than Inspectors will provide repairs or repair quotes Wrong again, the experts say. “Inspectors do not do repairs and they’re not there to assess the value or cost of anything not working,” Wannebo says. Once the inspection is done, you’ll have an opportunity to renegotiate whether you want the seller to fix the problem or you want credits to repair or replace items, but the inspector does not take part in this. The more you pay, the better the inspection will be In reality, many companies and
others but don’t deliver a more thorough inspection for your dollars. “The reputation and experience level of a home inspector always determines the outcome of an inspection, not the price tag,” says Ralph LaTorraca, broker/owner of LaTorraca Realty Inc., Bloomfield, N.J. Peter says these and other misconceptions persist “because people buy homes so infrequently that they don’t know or understand the process. Hiring an inspector is much more difficult than many other purchases, so you need to do your homework.”© CTW Features
CELL OFFICE
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17096915
17097072
Farmington / $169,900
Belleview / $74,900
Farmington / $185,000
Spacious home with 1890 sq feet on the main level which includes 3 bedrooms, 2 baths, living room, family room, kitchen, separate dining room and all season room. Image the same square footage on the lower level where you will find an enormous recreational room, a large storage room and additional space for office or work out room.
This property is located just over an hour from St. Louis in the beautiful and historic Belleview Valley. With 36+/- acres, 2 ponds and over 600 ft of road frontage you are sure to find the perfect place to build your dream home or weekend getaway. This land is untouched, mostly wooded and ready to hunt. Property has electric, well and septic from previous resident.
You must see this spacious 5 bedroom, 3 bath home located in the well established neighborhood of Holiday Park! This lovely split level home has plenty of space for everyone and the layout provides ample storage through out. Upon arriving, you will be in awe of this beautiful brick front home with landscaping and attached 2 car over sized garage.
neW
MusT see
under ConTraCT onLy 2 days!
17096693
17080623
Terre du Lac / $17,900
2 bedroom, 2 bath mobile home in Terre Du Lac. The plumbing in the home has been updated from the ground up in 2017. Many new features include kitchen remodeling including some new cabinets and counter tops. New flooring in kitchen, master bath, hallway and much more. This is all electric and very economical.
Terre du Lac / $214,900
Newly constructed home with 2443 sq feet of living space and a full unfinished basement. This is a must see home with the spectacular 33x28 great room, something you just don’t see every day. The open floor plan shows off the large kitchen with slate cabinets, large pantry and comes with all appliances.
17097320 Bonne Terre / $89,900
2 possibly 3 bedroom, 2 bath home with over sized two car garage and full walk out basement. This home is all electric and comes with all kitchen appliances. You will enjoy the large living room which opens to the kitchen for entertaining family and friends.
BuiLding For saLe
17069352 Park Hills / $269,000
CaLL Today
17069306
Existing business, with all retail inventory, outside digital sign, some office equipment, cutting table, security/camera systems and much more. The current owners have worked hard to establish a large client data base and connections with suppliers that will make your take over much easier. There is a large demand for the products this business offers which makes this a great business to take over.
Park Hills / $124,900
Prime location to start a business or branch location from an existing business. Currently the building is being used for a retail business but has endless opportunities. Approximately 2250 square foot building with a roof approximately one year old. The building was framed for 2 overhead doors on the front when originally built if that is needed in your business plan.
17024088 Terre du Lac / $239,000
As you pull up to this home I believe the word majestic might go thru your head as you see this newly built home. You will enjoy a large great room that walks out to a large covered front deck giving you unbelievable views of two lakes & beautiful scenery, what a place to end or start your day. For the avid golf lover, the beautiful Terre Du Lac golf course is in your back yard!!
Let Vicky Crocker Realty do the running for you! www.facebook.com/vickycrockerrealty
PAGE A7 Friday, January 5, 2018
17097217
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1136B N Desloge Dr. - Desloge
Daily Journal Weekly Real Estate
573.747.8099 573.327.8300
Daily Journal Weekly Real Estate Friday, January 5, 2018 PAGE A8
Gabe Swinford
MaTT STaCY
aMY STePHenS
Cell: 573-225-0374
Cell: 314-223-0488
Cell: 573-783-0260
Realtor® Sales Associate
Realtor® Broker Associate
900 Hwy OO FREDERICKTOWN, MO
Realtor® Broker Associate
573-783-8231 www.swinfordrealtyllc.com
NEW LISTING
REDUCED
#17096663 • 2109 Madison 244 • FREDERICKTOWN
#17053374 • 1672 County Road 924 • PATTON
Imagine yourself in this 3 bed, 1.5 bath home on Grounds Creek! Efficient layout featuring a spacious eat in kitchen that’s open to the adjoining living room. Valuable extra space is found in the mudroom & large separate laundry. Recent updates include fresh paint, vinyl flooring & doors. A newer Hardy wood furnace will keep utility bills exceptionally low. The home, 2 car detached garage & 35x70 pole barn with electric & water sit peacefully on 50+- acres with year round water. The property consists of open ground that could be used as pasture, and the remainder in hardwood/cedar forest offering superb hunting. A two acre food plot will keep the deer and turkey on the property as well.
SPACIouS 4 BEdRooM CouNtry homE on 3 aCrEs! - open main living consists of a kitchen to die for with walk in pantry, large dining, living room & maple floors throughout. Large master suite with 2 additional bedrooms, full bath & office/den finish out the main level. Plenty of natural light is provided by skylights, windows and French doors throughout the home. Walkout basement features a family room, one additional bedroom, a bath and large utility room. another finished room in basement is currently being used as additional sleeping space complete with closet.
9.2 ACRES
#16079657 • Tract 1 Hwy F & 72 • FREDERICKTOWN
4 BEDS/4.4 ACRES HIGH TRAFFIC LOCATION #17081588 • 3615 Madison 217 • FREDERICKTOWN
#17076890 • 129 West Main • FREDERICKTOWN
$32,500
$109,500
$69,900
9.2 acre wooded tract with light restrictions. 1 single family residence, 1000 Sq. ft. minimum living area, shop houses and newer manufactured home on permanent foundation oK. Nice wooded setting only 5 miles from town. Tracts like this are hard to find so don’t miss out!
4 bedroom ranch home features 1934 finished sq. ft. with fresh paint, newer kitchen cabinets & HVAC, wood burning fireplace and much more! 4.4 acres of mostly fenced pasture, barn and a pond. Located only 5 miles north of town with blacktop frontage.
Great downtown location in a high traffic area. main level could be used for possible store front office/retail space or apartment. Two apartments upstairs will provide additional income with a little work. upstairs apartments can be entered from the front or back of building. A 23x14 detached garage could be used for additional storage or rental income as well.
JOINS NATIONAL FOREST
8 ACRES
162.57 ACRES
#17018715 • Madison 256 • FREDERICKTOWN
#17018706 • Madison 240 • FREDERICKTOWN
#16023868 • Off Madison 9259 • FREDERICKTOWN
$38,500
$43,500
$203,213
14 acre wooded hunting/recreational tract adjoining National Forest in the Higdon/Seven Mile Ridge Area. Perfect for building a cabin and setting up camp with thousands of acres of public land right out your back door. Small tracts like this are hard to find so don’t miss this opportunity!
8 private acres of pasture with county water and BREC available. With no restrictions and located just outside the city limits, this property has many possibilities!
162 acre wooded tract located on a dead end private lane only minutes from town. Good building site, electric available and lots of good hunting. A large tract this close to town and reasonably priced is a rarity these days, don’t let this opportunity pass you by!