Blog > Blog > Archive by tag 'Fox Park'

January 20, 2010 at 1:40 pm

It’s been far too long since I have relayed my thoughts on the state of the investment real estate market, so in the spirit of the season, here is a quick rundown of my current investment market impressions in South St. Louis, Missouri:

  • Single-Families – There is no doubt that the $8000 homebuyer credit had a positive impact on house sales in the fall. September and October were especially productive. With the deadline for the credit originally set for November 30th, buyers were in a frenzy to find and close on properties prior to that deadline. Of course, when the program was extended until April 30th, 2010, the sense of urgency wore off. Couple that with the typical slowdown during the winter holidays and the market for these properties has been particularity slow for the past month or so. The good news is that with the holidays now over and the new homebuyer credit deadline  approaching in a little over three months, the market should see a nice resurgence soon. After April 30th though, its anybodies guess what is going to happen. So if you are in the middle of am rehab or thinking of selling a house, I would hurry up.
  • Condos – Not much to say here other than to avoid them. There have been some pretty good deals out there as of late, but the big issue is that buyers can’t get condo financing right now. Unless you can make sense of renting a condo or seller-financing it, I would stay away from them until something changes financing-wise.
  • Multi-Families – Where last year seem to offer a steady mix of 2-family and 4-family foreclosures, the last few months have been very heavy on the duplexes. Since the fall, however, things have been very heavy on the duplexes. Some of the single bedroom properties don’t present the greatest deals, but there heavy been a  fair amount of 2+ bedroom properties that heavy been pretty solid. It seems that a great many of the 4-families out there have already been foreclosed and sold, so it is possible that this might be somewhat of a permanent trend.
  • Apartment Rentals – November and early December were great for renting mid-level apartments. We moved a lot of inventory during that time. The properties that seemed to be getting less activity were the cheap units ($450 for single) and expensive ones ($650 for single). There hasn’t been much of a resurgence following the holidays as seems to happen some years. Lots of window-shoppers out there requesting showings, but not many pulling the trigger. Average would probably be the best way to describe the current amount of rental activity.
  • Neighborhoods – When looking for investment properties, location and price are always big factors. But the one thing it is hard to control is where all the good inventory is coming from at any given time. Much of last year produced a glut of quality foreclosures and short sales in neighborhoods like Tower Grove South, Shaw and Tower Grove East. But since the fall, things seem to have shifted increasingly eastward, with the best deals coming up in Tower Grove East, Fox Park, McKinley Heights, and Benton Park. Areas further south such as Benton Park West, Gravois Park, Dutchtown and Bevo continue to have a solid flow of inventory coming through as well, obviously rentability and resale remain a concern.
  • Best Investment Bets – So what’s the moral to this story? Obviously you should be on the lookout for all types of property in any quality area, but if I had to point you in one direction it would be Tower Grove East. Despite the sluggish economy of the past few years, or maybe even because of it, this neighborhood is really changing fast. There has always been a nice housing base, but the vast amount of foreclosures on derelict and substandard properties recently in the neighborhood has created a huge influx of development in the vicinity. Pricing hasn’t really caught up yet so there remain some pretty good deals. Look out for properties of all types there. Also pay attention to the increasing number of singles and duplexes in Benton Park and McKinley Heights. Benton Park West and Gravois Park within one block north or south of Cherokee is also a place to watch.

September 8, 2009 at 5:35 pm

The new grocer in Benton Park, Pointer’s Market, is now open at 2901 Salena. Yours truely hasn’t been there yet, but they have been open for almost a week. Benton Park is really coming into it’s own when it comes to business and residential progress. Looks like they just got another good addition to the lineup. Read more

September 3, 2009 at 4:35 pm

It’s funny, no matter how many properties you visit, it seems like you always find something new. Take this window for instance: I have never seen anything like it. The frame of the window is wood, but the glass looks like you stacked up a pile of soda bottles end-wise. Read more

August 31, 2009 at 6:16 pm

It’s been nearly a year since I moved my company, Threshold Investment Properties, into my current building at 2654 Gravois and I haven’t stopped working on it for one minute. The building has quite a ways to go before its done, but the office itself is nearing completion. The best example of this transformation is the nearly complete storefront. Read more

August 4, 2009 at 7:01 pm

Let me go on the record as saying I love historic architecture. It humbles me to think that with all the technological advancements of the last 100 years, the buildings of 100 years ago display a level of craftsmanship that seems to be lost in the modern day. That being said, our current system of preserving these historic structures misses the point entirely Read more

April 20, 2009 at 8:10 pm

A couple of months back, I posted about a mixed-use property in the South St. Louis neighborhood of Fox Park at 2001 South Jefferson that was about to meet its doom. I am happy to report that ten weeks later it is still standing Read more

February 25, 2009 at 9:56 pm

Tucked away among the warehouses of the St. Louis neighborhood of Fox Park, in the basement of the Koken Art Factory building, is  a new and unique entertainment venue. UR MOMS Bar at 2500 Ohio takes karaoke to the next level by incorporating a live band into the performance. Read more

February 13, 2009 at 1:39 pm

With the St. Louis Public School system ready to slash the number of schools they are operating across the City of St. Louis, one of the biggest questions on everyone’s mind is what is going to happen with the shuttered schools? Read more

February 3, 2009 at 7:51 pm

It’s no secret that far too many quality buildings in the City of St. Louis fall victim to the wrecking ball. With some buildings, only the most die-hard preservationists take notice and offense. But every once in a while something is torn down that raises the “What were they thinking?” flag. Read more

September 25, 2008 at 1:39 pm

If you have ever done any rehab work in a historic building, you know how hard it is to find wood that matches the existing trim work in your project. Even if you are starting from scratch with all new trim, if you want to go with anything other than modern bare-bones stuff, you’re not going to be happy with the selection or pricing at the big-box stores. I know I never have been. That’s where a custom miller like Burkart’s can come in handy. Read more

May 29, 2008 at 12:00 am

Fox Park is one of those South St. Louis neighborhoods in the midst of a transition. Unfortunately, like surrounding neighborhoods such as Benton Park West and Tower Grove East, the current downturn in the market has stalled the progress of redevelopment in the area. But all I see when I pass through the area is the untapped potential. Read more