4230 Olive in the Central West End's Gaslight District
$410,000
3 bedrooms with a main floor master bedroom, 2.5 baths, attached garage, open kitchen
Won Best Home and Best Design in City Rama six years ago, once again available for purchase!
Real estate in St. Louis took an interesting turn this past year. Having been in the business of selling real estate for the last 23 years, I'm astounded, now at this holiday season, to once again see the market I last saw 14 years ago in South St. Louis. The market at that time "died" around the holiday season. It was a Buyers Market. We appear to have once again become a Buyers Market, no longer on a cusp, teetering back and forth.
And all of that is logical. The city of St. Louis is a city of Neighborhoods: north, south, midtown, downtown: Soulard, Benton Park, St. Louis Hills, Hyde Park, Central West End, just to name a few. During this economic downturn, the hardest hit areas were north and south. Midtown held its own because of its close proximity to Barnes Hospital complex (our largest employer), Washington University and its Medical School and St. Louis University. At one time, students, interns, residents, doctors at one time still found it a wise idea to purchase a home in near the hospital and the bio-corridor. Today, we are seeing many more folks looking for rental property. Waiting until the future shows a more favorable arena for purchase and profit.
When the Buyers market of 14 years ago first began, the quiet family neighborhoods of south St. Louis, including St. Louis Hills and the Southwest Garden Neighborhoods as well as Lindenwood Park were "discovered" by the rest of the metropolitan area. I overheard in a prestigious Ladue office, two agents talking about St. Louis Southwest Gardens being "THE" place to find property for buyers. And indeed the race was on. Property was fought after with multiple contracts. We often remarked that you could sell a "one bedroom" home back then just as easily as a three bedroom home. Everyone wanted to buy. Interest rates didn't matter. We had to buy a house back then. And we fought over them and home prices rose, and rose and rose. I wondered where the top was.
When the market began to fall, not only north St. Louis city but also south St. Louis city took a deep tumble. Prices fell. No one bought.
Well, as the Central West End held on and maintained, and has now turned more toward rental, the good news is that South St. Louis is coming back. As it did 14 years ago, I believe that South St. Louis will again lead the way into the St. Louis revival of the real estate market. Things are looking up. I am very optimistic about the future St. Louis real estate market. As the coasts are beginning to recover, I think we are going to see a spring market that will rebound.
Real estate is still your best investment. And NOW is the time to buy. Make 2011 YOUR year for investing your money wisely as a buffer for the future.
