housing market - feds leave rates unchanged this week

Please enjoy this quick update on what happened this week in the housing and financial markets.

	The Fed concluded the most recent FOMC meeting and announced there would be no policy rate increases. The next FOMC meeting is scheduled for March 14/15.
	Economic activity in manufacturing expanded in January, surpassing economists' expectations. Manufacturers grew at the fastest pace in more than 2 years.
	The Consumer Confidence Index dropped in January after reaching a 15-year high in December. Despite the slight drop, consumers remain confident overall.

	Construction spending was down slightly overall in December. However, spending on residential structures was up 0.5%.
	Despite an increase in mortgage rates, pending home sales rose 1.6% in December compared to November. Sales were up 0.3% year-over-year.
	Home prices continue to rise, up 5.6% in November according to Case-Shiller. Increases are supported by rising personal income & decreasing unemployment.

When an employment application asks who is to be notified in case of emergency, I always write, “A very good doctor."

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

Sincerely,

Christopher Gianino
Pinnacle Real Estate Advisor by Gershman Mortgage
Vice President
NMLS 252641
(314) 280-5662
cgianino@gershman.com
www.PinnacleRealEstateAdvisor.com

Federal Funds Rate to remail low

The Federal Reserve met today and decided that the Federal Funds Rate will remain low - holding steady between 0.50% and 0.75%. Since financial market experts predict several rate increases in 2017, now is the time to get your finances in order before mortgage rates rise. When the Fed Funds Rate is low, the Fed is attempting to promote economic growth. This is because the Fed Funds Rate is correlated to Prime Rate, which is the basis of most bank lending including many business loans and consumer credit cards. It's a common belief that the Federal Reserve "makes" consumer mortgage rates. It doesn't. The Fed doesn't make mortgage rates. Mortgage rates are made on Wall Street.

Open Sunday - OPEN SUNDAY jan 15 and jan 22 from 1-3PM

Exceptional two story home on a tree lined cul-de-sac in a highly sought after West County neighborhood. The entryway opens into a spectacular two story foyer with custom tile flooring and turned staircase. The main floor boasts a freshly updated kitchen with gorgeous granite countertops and brand new stainless steel appliances. The large custom designed double deck is perfect for entertaining with a secluded tree lined view. The upstairs includes a large master suite with a luxury bath and jacuzzi tub, separate shower and double sink with plenty of cabinet space plus three additional spacious bed rooms. The lower level comes with a huge finished, walk out basement with full bath, plenty of space for both game room, office or additional bedrooms and plenty of storage. An easy to maintain yard and hassle free landscaping gives you more time to do the things you enjoy. This is a turnkey must see home! It is located at 1759 Warmington Ct. Ballwin, Missouri in the Parkway School District.

OPEN SUNDAY jan 15 and jan 22 from 1-3PM

To view call 314-503-6430


Laura Ludwig
http://www.lauralei.net
314-503-1186

Ask about our$195 Flat Fee MLS ListingsLauralei Properties, LLC

Trendy freshly renovated home in the Webster Groves school district.

3BR / 2Ba 972ft²

Trendy freshly renovated home in the Webster Groves school district. Newly finished hardwood floors, this 3 bed 2 bath home are move in ready. With over 1944 square feet of living space including brand new kitchen cabinets, Granite countertops, stainless steel appliances, glass tile backsplash, custom tile bathrooms, new windows, roof, gutters, siding, wood burning fireplace, the list goes on. Walkout basement is fully finished with tile flooring and wet bar. Home has two washer/dryer hookups for convenience. This home is in a great central location-close to shops, restaurants, major highways, and nestled in highly sought after Webster School District.
203 Almentor Ave, St Louis 63119

To view call 314-441-6561

Laura Ludwig
http://www.lauralei.net

314-503-1186

Ask about our
$195 Flat Fee MLS Listings
Lauralei Properties, LLC

           

Total solar eclipse in St. Louis

St. Louis area residents and visitors are in for a real treat on August 21, 2017.

Just after 1pm on this Monday with many schools already in session, the Moon will get between the Earth and the Sun and cast a shadow over Earth.  Darkness will fall in the middle of the day.  Planets and stars may appear.

 The temperature could drop 10-15 degrees.  Animals and insects may behave like nightfall has set.  You may think you have seen a "total" solar eclipse before, but chances are you have not.  Most likely you saw a "partial" eclipse like the one that just occurred in 2014.  The last total solar eclipse occurred in St. Louis in the year 1442 (not a typo). 

12 states and 12 million people live directly within the path of totality.  Missouri ranks #1 in of the states in the path with 3.4 million of its residents living directly in the path of totality.  St. Louis has 1.6 million residents living within the path of totality and is tied with Nashville for the most number of residents living directly within the path.

FOR SALE - Two conjoined buildings make up the 13,000 sq ft mixed-use property.

* Two conjoined buildings make up the 13,000 sq ft mixed-use property. * Located on Main St. Festus, MO 63028. Main street is currently undergoing revitalization. * Income is $5010.00/month and $60,120.00/year. * Contains 10 units. (7 offices/retail spaces ranging from 300-2800 sq ft.) One of the units is 1850 sq ft and contains 7 individual offices) It also has 3 apartments- 1X 3bdrm (1000 sq ft) with hardwood floors, 2 x 2 bdrm- 1 is 850 sq ft with hardwood floors and the other 1000 sq. ft. * Having both commercial and residential units in one building helps to protect against large changes in either market. * Located just 25 minutes south of St. Louis.. * All units have been recently renovated. * Current occupancy is 100%. Has been over 90% the last 10 years. * Motivated seller. To view call 314-330-4757 Laura Ludwig www.lauralei.net 314-503-1186 Ask about our $195 Flat Fee MLS Listings Lauralei Properties, LLC

One of a Kind – Mid-century Modern - Free Classifieds | RiverBender.com

One of a Kind – Mid-century Modern - Free Classifieds | RiverBender.com:

One of a Kind – Mid-century Modern in Manchester Area with 2079 sq ft living area. Unique and original from top to bottom, this home strikes the balance between minimalistic and luxury while maintaining is mid-century modern roots. The home sits on approximately 1.5 wooded acres and is located in the heart of West County and close to nearly everything. The home has been updated throughout and is move-in ready. Home boasts Huge wall of windows on all three levels, overlooking expansive wooded yard, Hardwood floors, Ikea Red Cabinets, Built-in and Organized Closets in Master, Large maintenance free rear deck with glass rail system, over-sized Jacuzzi tub, Built-in bookshelves, Granite Mosaic Entry Foyer and entertaining porch, screened indoor/outdoor area, lofted master bedroom, 8’ wide multi-level fireplace and High-end fixtures and finishes throughout. In a competitive situation, priority given to the buyer who plans to love the home over a developer wishing for tear down.

To view call 314-800-9706





Laura Ludwig
http://www.lauralei.net

314-503-1186



Ask about our$195 Flat Fee MLS ListingsLauralei Properties, LLC