Blog > Blog > 2009 > January

January 30, 2009 at 2:56 pm

As frustrating as it is, Bill DeWitt Jr. and Cordish are good at spinning things out. Here’s the latest in the sage from the St. Louis Post Dispatch. I really do think this project will actually happen at some point, but I hope everyone learns their lesson. Which they won’t. At least we are in the same plight as Kansas City with their Cordish Development, the Power & Light District.

January 30, 2009 at 2:45 pm

Looks like the powers that be are serious about reforming the schools. If this moves ahead it would be one of the most aggressive (and needed) moves in years. If the city schools could improve we might actually see families more seriously considering coming back from the burbs. Here’s the article from the St. Louis Post Dispatch.

January 30, 2009 at 2:26 pm

Being creative with earnest money in real estate transactions is one of the most commonly overlooked negotiation points in a contract. Especially for foreclosures, with their battle-weary bank-owners trying to cover their butts. They want assurances. Read more

January 29, 2009 at 5:54 pm

So if your house isn’t your “biggest investment,” what is a person to? You have to live somewhere. That’s an important question, but there is no easy answer. If the solution had to be narrowed down to one thing it would be “responsible money management.” Read more

January 28, 2009 at 6:07 pm

After last week’s positive article on the status on Shaw Avenue, I figured it was only fair to followup with another article focusing on the less polished side. Read more

January 27, 2009 at 1:51 pm

Is the sidewalk in front of your property a little worse for wear? All the freezing and thawing of Missouri weather along with additional help from ice melt, tree roots and good old time have a way of doing that. Read more

January 26, 2009 at 4:48 pm

It’s no secret that many of the best investment properties on the market nowadays are foreclosures.  But the the foreclosure market plays by different rules than the rest of the market. It is often fast-paced and unforgiving. Read more

January 24, 2009 at 4:04 pm

Tax Increment Financing has become almost commonplace in our region and the United States as a whole. The concept of applying future taxes created from a project back into the project make sense on paper, but its always been a question whether or not the method is truely affective in creating overall revenue growth. Based on a new study by the East-West Gateway Council of Governments, a new St. Louis Post Dispatch article makes you think. Is all this TIF usage for industrial, commercial, retail, multifamily and other developments really paying off? It’s worth the read.

January 23, 2009 at 3:28 pm

The Union Club, a project being developed by St. Louis-based Gilded Age at Lafayette and Jefferson looks like it is being finished up. The commercial space appears be idle, but their is a banner on the side of the property advertising that leasing will be available this spring. No word on whether this was a planned move for the development or a revision due to slow sales. Either way, it will be nice to see the building fill up. Check out the final exterior pictures below or click here to see detailed info on the units.

January 21, 2009 at 2:22 pm

When you own an investment property, you can easily claim your property taxes as a business expense. With your personal residence, however, the rules are a bit different. If you itemize your federal deductions you can claim your actual property tax amount. On the other hand, if you use the standard deduction, you can not claim them. Until now. For 2008 and 2009, when claiming the standard deduction on federal income tax returns, the IRS is allowing homeowners to claim up to $500 in property taxes if single and $1000 if married filing jointly. This won’t apply to many homeowners, but if it does, looks like you’ll be saving a bit of extra money this year.

Here is the language taken directly from the IRS’s website:

Your standard deduction is increased by any state and local real estate taxes you paid in 2008, up to $500 ($1,000 if married filing jointly). The taxes must be state or local real estate taxes that would be deductible on Form 1040 (Schedule A) if you were itemizing your deductions. Taxes deductible in arriving at adjusted gross income, such as taxes on business real estate, and taxes on foreign real estate cannot be used to increase your standard deduction.

January 21, 2009 at 1:55 pm

In the world of real estate you often here people touting that a person’s home is their single biggest investment. If you subscribe to this idea, perhaps it’s time a dose of reality. Read more

January 19, 2009 at 3:29 pm

One of the biggest holdups in the revival of the Shaw neighborhood is the lack of commercial space. The residential component of the neighborhood has seen a lot of improvement in recent years, but commercial development has been relatively limited. There are businesses and restaurants, but not much to draw people in.  Read more

January 15, 2009 at 6:43 pm

With a sluggish economy, talks of large-scale development projects often vanish from the local conversation. Considering this consistent trend, it was a safe bet that the proposed plans for two 16-story Drury Hotels in the Forest Park Southeast neighborhood would end up in development limbo. According to the folks at Drury, however, this project could still be a “go”. Read more

January 14, 2009 at 6:20 pm

With the abrupt closure of the Pevely Dairy Complex in Midtown St. Louis last October, things weren’t looking too good for the corner of South Grand and Chouteau. With a sluggish economy, who would want to buy the place? Enter mystery developer. Things are looking up Read more

January 14, 2009 at 5:09 pm

Despite the fact  that MODOT is putting the brakes on most new transportation projects, it seems that one high profile project hasn’t been affected: the new Mississippi River Bridge in Downtown St. Louis. Read more

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