Getting sellers and buyers together for a happy ending: Current market value will determine a sale, not emotions

The real estate market can be very complex these days; but mix in emotions and the occasional ego, and it can be even more complicated. Enter your real estate agent, who will sort out the best approaches for both buyers and sellers.

For sellers, correct pricing is a must. A recent Zillow survey showed that homeowners who purchased their property in 2007 or later were overpricing their homes by an average of 14.1 percent, and homeowners who purchased between 2002 and 2006 were overpricing about 9.3 percent above market value.

The key here is market value. The market has changed drastically since 2002 and sellers should look at current market value, not the value when the home was purchased years ago. Buyers aren’t taking into consideration what you paid then, but what the house is worth right now.

Both sellers and buyers should review the comparable properties for sale that your agent will provide. These comparables offer a good snapshot of current values for homes similar to yours.

Overpricing a home is very counterproductive in this economy. Most likely, the property will sit on the market for a while. The longer the property languishes, even with subsequent price reductions, the less desirable it is. Follow your agent’s pricing strategy instead of your emotions for a quick sale.

Buyers, too, have high expectations, but for lower prices. With the buyer’s market in full swing, buyers are looking for a great bargain, to “make a steal.” Again, your agent’s comparables will guide you to a fair offer that is a good deal for you.

Some buyers are tempted to make a very low first bid. That’s called low-balling. Just like a seller pricing a property too high, an extremely low bid can be counterproductive. This can insult the seller and shut down any further negotiations. If you really want a property, take your agent’s advice on a reasonable offer and that will assure communication that can lead to a happy ending for both parties.

Condos offer an option for homeowners who want to downsize or aren’t interested in home maintenance

Just the thought of going outside in the Missouri heat and humidity to mow the lawn, or repair the fence, can seem like a daunting task. For people who are no longer enthralled with home maintenance or are ready to downsize, purchasing a condo is the logical choice.

When you buy a condominium, or condo, you are purchasing ownership in the whole building, not just your unit. You privately own your residence, but you also have ownership in the building and the common areas, including the grounds. In addition to the unit purchase price, you will also pay a monthly fee to help maintain those areas as well as a contingency fund for emergency repairs.

As you begin your search, get pre-approved with your mortgage lender and obtain a copy of your credit report. Doing these two things will speed your purchase and give you an advantage over potential condo buyers who are not prepared.

Just as each home is different, every condo complex is different too. To compare like properties, decide if you want a brand new building or an older one. Both old and new buildings have advantages and disadvantages; new condos may be more expensive up front, while older buildings may have more charm, have a cheaper listing price, but come with more maintenance.

We will help you determine which option fits your budget and provide you with comparable listings within your choice.

Just as you would investigate a new neighborhood, you should investigate your potential condo building. We recommend reading the agreement, or declaration, that outlines how the condominium operates and is governed. Do the rules and regulations allow you to have the lifestyle you want, how efficient is management and how big is the reserve fund for emergencies?

It’s also a good idea to read the homeowners’ association minutes for at least the last six months to understand how the association functions and what the most recent issues may be.
As you tour properties for sale, look at the general condition of the complex as well as the unit that interests you.

When you are looking to buy a home, we know there are many choices. A condo is a very viable option in the housing market. If you choose a condo, relax on your patio, and watch someone else mow the grass!

Making Home Affordable programs help homeowners in financial distress, but beware of scams

The current housing market provides a variety of options for potential buyers. Interest rates are still low and home prices are affordable.

But, for homeowners who are having financial difficulties and foreclosure or a short sale may be the only option, there is help through the Making Home Affordable (MHA) collection of government programs.

The program is also a collection of alphabet soup! Here’s a rundown that will help you navigate the options and, if you are in financial distress, find which would benefit you the most. Each program has different qualifications, so for more information on that, contact your mortgage holder and visit the Making Home Affordable website.

Lower your monthly mortgage payments. Through the Home Affordable Modification Program (HAMP), homeowners can reduce their monthly payment to 31 percent of their verified gross income. Qualifiers complete a three-four-month trial period to make sure they can make payments on time. There are also other aspects of this program that can help reduce the principle, get a second lien modification (2MP), an FHA modification and one for veterans too.

The Home Affordable Refinance Program (HARP) helps homeowners who have a Fannie Mae or Freddie Mac backed mortgage who can pay monthly, but can’t refinance at a lower interest rate because a decrease in their home’s value. This type of assistance keeps the homeowner current on payments and out of the foreclosure scenario.

The Home Affordable Foreclosure Alternatives Program (HAFA) is designed for homeowners who can no longer afford their homes, but want to avoid the negative effects of foreclosures. The program provides incentives to complete a short sale or deed-in-lieu of foreclosure.

There is no charge to apply to any of these programs and a HUD-approved counselor will discuss the ramifications with the homeowner. This is important to remember, since a number of scams have surfaced. If anyone asks you to pay a fee in exchange for counseling, walk away. Don’t sign anything under pressure, and don’t sign you deed over to anyone or make a mortgage payment to anyone other than your mortgage provider.

For more info, contact your lending institution or us to help simplify these programs.

St. Charles Real Estate Market Watch - June 2011

MARKET WATCH

JUNE STATISTICS 2011

County	Active Listings	Under Contract	Sold in June	AVG Days on the Market	AVG Sales Price	AVG $ per sq. feet
ST CHARLES	3186 8 months of inventory	437	391	124	$175,217	$88.54
St Louis	7620 6.2 months of inventory	1256	1228	114	$210,213	$116.33
Jefferson	1959 8.9 months of inventory	293	219	170	$127,182	$75.75
Lincoln	420 8.75 months of inventory	49	48	149	$110,324	$65.98
Warren	429 13.4 months of inventory	26	32	138	$179,603	$98.95

St. Charles is tops with AAA Midwest Traveler readers!

The latest issue of AAA Midwest Traveler makes us proud to live in the St. Louis/St. Charles metro region. The results of a recent readers’ poll show what we already know–we live in great place that offers so much to see and do.

In the Best of the Midwest poll, St. Louis was voted the best large city for a weekend getaway while St. Charles won the best historical small town, plus garnered second place as the best small city for a weekend visit. Branson notched first place, but really, who could compare? We know our city is the best in this category too.

The Festival of the Little Hills ranks first as the best arts and crafts festival. In its 40th year, the festival is coming up next month from August 19-21 with more than 300 artisans and crafters. Readers selected Boone’s Colonial Inn, our favorite cozy lodgings on South Main Street as the most romantic B&B and the Ameristar Casino for the best casino. Cha-ching!

On the cultural side, the St. Louis Art Museum is considered the best museum in the Midwest and really, nationally too. With more than 30,000 works of art, we look forward to seeing more when the new expansion wing opens in 2013. For the kids, the Magic House in Kirkwood got the thumbs up, with 50,000 square feet of interactive space that delights parents as well a kids.

Need some exercise? Don’t we all. Hop on our Katy Trail just south of Frontier Park. The trail won the best bike trail honors. 300,000 of us use the trail every year, either on bikes or as a walking adventure. It’s the longest rails-to-trails project at 240 miles with spectacular views of the Missouri River along the way.

We are so blessed with the variety of experiences here. Get out and enjoy what our region has to offer, and not just when guests come. Who wouldn’t want to live and work in our community!

Pets know when something is up. Make their moving experience as easy as possible.

When you arrive at your new home, set up a special, secure area for pets with their blankets, toys and beds, plus water and food. Check on them often as the furniture is brought in. You will alleviate many of your pet’s fears by being there with a hug, a pat and a pull toy.

Introduce your pets to their new home little by little. Cats can have a tendency to disappear in new situations (or whenever they feel like it). It’s no fun finding kitty at 2 a.m. stuck in the basement rafters. And for cats, make sure the litter box is readily available.

Dogs shouldn’t have the run of their new house either. Take them around, room by room, and allow plenty of time for sniffing. Watch for signs that it’s time to go outside for a while. Always walk your dog on a leash. Using a leash will help avoid territorial issues and provide the opportunity to meet the new neighbors.

Even though it may be a bit of a challenge, keep to your normal routine as much as possible. This will help re-establish life as it was, but in a new place.

Are mortgage interest rates really ‘historic’ now?

We hear it all the time. Headlines trumpet “mortgage rates at historic lows!” Could this really be true, or is it hype? Curious to find out, we researched mortgage rates way back to 1981 to find out the real story. Which is to say, yes, our current interest rates are historic.

Back then, some 30 years ago, the interest rate was a whopping 16.70 percent (can you image that?) for a 30-year fixed rate mortgage in June 1981, according to mortgagenewsdaily.com. In between then and now, rates did moderate to averages of about 11.50% in 1983; 8.43% in 2000; 6.88% in 2008.

So yes, the 4.73% average now really is historic. For buyers and sellers, this may be the most influential component in deciding to enter the housing market now. Buyers are enticed by the low rates and the increased housing stock. Sellers have the advantage too. Low interest rates bring in potential sales, and if your home is competitively priced and improved to match comparable homes in your neighborhood, your success rate will be high.

Spring and early summer are the peak times for buying and selling. Buyers want to settle into their new neighborhood when the weather is nice and they can be outside to meet neighbors. Children also benefit with an early summer move so they can adjust to new friends and schools.

For sellers, advantages include the opportunity to increase curb appeal and add special touches to landscaping to really show off their property. Homes show much better in the summer months with loads of outdoor natural lighting streaming in through the windows. And sellers want to be somewhere else, established in their new neighborhood.

If the interest rate is the prime motivation for buying or selling, this is the right time. We see the rates hovering around 5% or less for the foreseeable future. Wait or not, there is success out there for both buyers and sellers.

Just don’t do that. Some over-the-top renovations won’t help sell your home or impress buyers.

Selling a home usually means some updating, possibly remodeling a few areas. Kitchens and bathroom renovations reap payback at closing time, but a word to the wise: don’t over improve. You’ll set yourself up for a yield of diminishing returns.

The smartest way to increase your home’s value is to bring it up to neighborhood standards. Leaping ahead of the Joneses will only stall your sale, especially in a market where buyers are cautious and want to see solid value. Always consider your neighborhood and research comparable properties before you jump into renovation projects.

Here are some don’ts and do’s.

Don’t assume more space means more profit. Depending on your neighborhood, over-the-top improvements can be a real turnoff for buyers, especially if it means that additional maintenance isn’t worth the effort. For instance, kitchens catch a buyer’s eye, but if you’re dead set on a chef’s kitchen, take a step back and think about it. Sprucing up a kitchen is a good move, and a nice makeover can be done with minimum investment.

Don’t turn a bedroom into an office space when you’re ready to sell. Buyers want bedrooms and want to see rooms as bedrooms. If you already have a home office, which most of us do these days, upgrade that space with attractive storage units to reduce clutter, and maybe a new desk that you can take with you to your next home.

Do think long and hard about installing a swimming pool, unless you plan to stay where you are for a long time. Buyers can see a pool as a major headache and safety issue if they have small children. Heating, skimming, repairing, balancing the acidity level and winterizing are a lot of work for buyers moving into a new home. Instead, take some of that money to create a beautiful landscape with perennials–a lot less work.

Don’t install that media room with theater seating. As buyers downsize, that’s one recent improvement that is no longer enticing. A family room is a better value, but so is a clean, waterproof basement for storage and an efficient laundry space.

The way you look at your living space is very personal. If, indeed, you want an Italian wine cellar with imported stonemasons, by all means do that should you plan to stay for a while. But, that wine cellar isn’t going to add bottom line value to your home if you want to sell now.

Yes you can sell your home this summer! Take a look at what buyers want and get your home ready to go.

We’ve all heard that this is a buyers’ market, there are plenty of real estate choices and buyers expect the lowest price possible. This can put sellers on the defensive. However, you can position your home in this market to satisfy buyers and get fair market value for your property.

Price. Your real estate agent will help you determine a fair price for your home. She will provide you with comparable homes in your area so you can be competitive as soon as your home is listed. Pricing your home too high will only turn away serious buyers and get yourself into a stressful negotiations battle.
Basically solid. Position your home as well maintained, solid and ready to move in. Today’s buyer wants a home that has value for years to come. A pre-sale home inspection is a good idea. The inspector will help you decide what you need to fix or upgrade structurally to make your home more appealing.
Energy efficiency. One of the most enticing selling points now is energy efficiency, which points to lower utility costs down the line. Emphasize your home’s energy efficient aspects, such as appliances, heating and cooling systems, windows, lighting and insulation.
Incentives. Some sellers offer incentives to lure buyers, such as financial assistance at closing, purchasing the first year for a home warranty, sharing closing costs, paying a year’s worth of home association dues or prepaying property taxes. Offering incentives up front do make your property stand out and can shorten the negotiation process.
Outdoor living. A seemless transition between indoor and outdoor living is a popular plus these days. Highlight your lovely deck, patio or screened-in porch. Here’s a wonderful opportunity to stage that area with lighting, colorful flowers and landscaping and furniture. Not only is this a selling point, but you’ll enjoy your outdoor living space right now.

Present you home with positives in place, clean and de-clutter, repair, update and price reasonably. Your property will stand out and attract the right buyer for the best deal.

St. Charles Real Estate Market Watch - May 2011

MARKET WATCH

MAY STATISTICS 2011

County	Active Listings	Under Contract	Sold in April	AVG Days on the Market	AVG Sales Price	AVG $ per sq. feet
ST CHARLES	3492 8.79 months of inventory	502	397	121	157,128	80.53
St Louis	8302 7.02 months of inventory	1552	1182	111	179,856	100.87
Jefferson	2176 9.54 months of inventory	315	228	170	120,420	71.46
Lincoln	468 9.1 months of inventory	57	51	148	114,242	68.24

Grilling outdoors is a time-honored American tradition. Keep it a safe experience for your family and friends.

Americans have a love affair with barbeque, and Memorial Day is the unofficial kickoff for grills, smoke and sauce. Getting family and friends together for a meal is one of the pleasures we enjoy the most, but keeping the experience safe is a must.

The National Fire Protection Association (NFPA) reports that each year outdoor grills cause an average of 7,700 house fires and $80 million in property damage. Here are some grilling tips to avoid being a statistic this summer.

Regardless of the type of grill you favor, it should be located outdoors and in a clear area. Place your grill away from siding, deck railings, eaves and overhanging branches. DO NOT grill in a garage or enclosed space. That’s just setting yourself up for a fire.

Kids are a big part of barbeques and when they get together, there is usually a lot of running around. The NFPA recommends setting up a three-foot kid-free zone around the grill to ensure safety.

The cook should use long-handled grilling tools for clearance from heat, flame and hot grease. Don’t wear loose-fitting clothes that may catch on fire.

Gas grill enthusiasts should check out the gas tank hose for leaks before using it at the beginning of the season and periodically during the summer. Obstructions in the fuel path are the number one reason for gas fires. At the first sign of a leak, turn the grill off and have it serviced by a professional.

Charcoal grilling also has its hazards. The first problem begins with lighting the charcoal with lighter fluid. Use the fluid only to start a fire, never when the coals are burning. Lighter fluid turns to a heavy gas at a low temperature, which will explode easily. Rather than deal with lighter fluid at all, use a charcoal chimney stuffed with newspaper on the bottom to start your coals. Much less risk, and you also avoid the carcinogenic effect of chemicals.

Should you have a grill fire, move everyone away from the area and call 911. Really, don’t let your ego get the better of you and your guests.

Beer and barbequed brats go together, but not for the grill master. Don’t drink and barbeque at the same time. You’ll need a clear head to produce a fine meal and stay safe. Have that congratulatory drink when you guests are raving about what a great cook you are.

Investing Your Tax Return In Your Home Enhances Value & Adds Enjoyment

What did you do with your tax return this year? Maybe a quick vacation to reward yourself for actually getting your taxes in on time? A down payment on a new car? Or did that refund just…disappear into your daily expenses?

We think the best use for your refund is to target improvements that will enhance your home’s value. The average tax refund is $3,000, but even if your return was less than the average, there are plenty of quick fixes to make you feel good.

With spring here and summer not so far behind, let’s go outside for some tax return projects that will make your home a welcome site. Houselogic.com has some great ideas.

For about $3,000 you can add a soft glow to your home with outdoor lighting. One of the most important techniques to increase curb appeal and safety, outdoor lighting enhances your home’s architectural features that welcome guests into your home. The cost would include 7 LED lighting fixtures with a transformer to convert household current into low-voltage and two motion detectors.

Going around back, take a look at your patio. Outdoor living is in now, and a $3,000 patio makeover could add 30-60% on your investment. A professionally installed 12 by 16 foot brick or paver patio will give you plenty of room to enjoy the outdoors in addition to the increased value.

Taking into consideration the recent run of very bad weather, you might give some thought to a portable generator system to keep you up and running when the power goes out. Depending on kilowatt model, a generator ranges from $500-$2,500. Investing part of your tax return in a generator will help you continue with a few electrical essentials until the power goes back on.

And you’ll have a bit of money left over for a pizza party on your new patio!

February Calendar of Events

Through February
Black History Exhibit
Frenchtown Heritage Museum
For more info and hours, call 636.724.2106.

Winter Classic sponsored by the Ice Skating Institute
Friday, February 11-Sunday, February 13
Various times
St. Peters Rec-Plex
More than 1,000 skaters from across the country compete in the Winter Classic. See a record performance that will feature 140-plus people from the community on the ice all at once.
For more information, call 636.939.2386
FREE

ART by Yasmina Reza, translated by Christopher Hamptons
Thursday, February 17-Saturday, February 19
Riverside Shakespeare Theatre
Feb. 17, 7:30 p.m.; Feb. 18 and 19, 6 and 9 p.m.
Foundry Art Center
What is art? That’s a question most people don’t have an answer for. The Tony award winning play, ART, explores that question and the true meaning of friendship. In this comedy drama, three friends come to realize that even though they have been friends, their differences don’t stop with artistic opinion. Much laughter and insight abound.
$15 at the door, or go to the Riverside Theatre Company website. Are you a member of The Foundry Centre? Get a discount for the show by calling 636.255.0270.

Lindenwood University Speaker Series
7:30 p.m.
Thursday, February 10
Anheuser-Busch Leadership Room
Dr. Robert George discusses Natural Law: God and Human Rights
For info, go to the University website.
FREE

Percussion Discussion, Crescendo Concert Series, A Free Children’s Concert
Saturday, February 12
10 a.m.
First United Methodist Church
This concert is designed for children. Matt Henry and member of the UM St. Louis Percussion Ensemble will have a hands-on display of making music with percussive instruments. Please bring a canned good or one dry-packaged food item. For more info, go to the Crescendo Concert Series website or call 636.946.0310.

Shiver Fest
Saturday, February 19
Noon-9 p.m.
Augusta Brewing Company
Enjoy a day of fun winter activities in Augusta, including live music, toasty fires, hayrides and a very special beer release.

From Tragedy to Miraculous Rescue
Friday, February 25
6:30 p.m.
St. Charles County Library Middendorf-Kredell Branch
Sponsored by OASIS
Dagoberto Pinto, a U.S. citizen born in Chile, shares his fascinating story of his visit to the San Jose Mine in Chile, where 33 miners endured 69 agonizing days underground. Pinto took an American flag and a card signed by 150 co-workers at O’Fallon Casting. For more information, call 314.539.4556 or visit the OASIS website.

Mardi Gras Parade
Saturday, February 26
3 p.m.
Frenchtown District
North Second and Clark Streets
Family friendly parade, children’s activities and music.
For info, call 800.366.2427

Beggin’ Pet Parade and PetSmart Wiener Dog Derby
Sunday, February 27
11 a.m.
Soulard at Allen and Menard Streets, St. Louis
Bring your party animal to Soulard’s Beggin’ Pet Parade and show off his outrageous finery. Thousands of pets party on and attend the “Tail”gating Party too. It’s a $10 donation to the Open Door Animal Sanctuary to enter your pet, and free if you just want to watch and fun. Got a doxie? Enter her in the PetSmart Wiener Dog Derby on Saturday after the parade. Dachshunds race in three divisions, depending on age: Cocktail Wienies, Ballpark Franks and Hot Dogs. Trophies, medals, race pictures and local radio talent announce the race. There’s a $10 fee to register your Dachshund. Fun is free.

St Charles Winter Storm Warming Center and 24 Hour Help

Please stay warm and safe during the storm. Here are numbers to local businesses and warming centers:

Ameren UE Electrical Outage 800.552.75.83
Mister Sparky 24 Hour Electrical Services 314.781.9998
Roto-Rooter Plumbing & Drain Services 24 Hour Plumbing Services 636.587.2440
Matheny Heating and Cooling 24 Hour Heating and Cooling services 314.727.9000

Warming Centers agree to open their doors for individuals to seek shelter from excessive cold conditions during the hours listed.
Excessive cold indicators are: wind chill is expected to be -15 degrees or less or the stagnant air temperature is 15 degrees.

63301
St. Charles Senior Center - MEAAA 1455 Fairgrounds St. Charles MO 636949-0658
Warming Center - Open from 9:00 am to 3:00 pm Monday through
Friday Meals available for a fee. Call MEAAA 636-207-0847

63366
O'Fallon Senior Center - MEAAA 106 North Main O'Fallon MO 636272-4180
Warming Center - Open from 9:00 a.m. to 3:00 p.m. Monday
through Friday Meals available for a fee. Extended hours
possible. Call MEAAA 636-207-0847

63376
St. Peters Senior Center - MEAAA 108 McMenamy Road St. Peters MO 636278-2410
Warming Center - Open from 9:00 a.m. to 3:00 p.m. Monday
through Friday Reservations required for meals - fee. Extended
hours possible operated by the City of St. Peters.. Call MEAAA
636-207-0847

Rent Vs. Buy Analysis

	With the recent downturn in real estate sales and values, the next couple of years will be greeted with questions on the value of home ownership. Locally efforts are in place to respond to the National Association of REALTORS Call for Action to Protect Home Ownership. Just below please find your link to the Rent vs. Buy Analysis created by myself for the use of SCCAR members or the Public Relations Committee. I hope that you find the video useful for marketing campaigns, email blasts to your prospects or however you wish. Great for First Time Buyer Seminars. Also attached is a Brochure that can be printed out and followed as you view the 5 minute video or you may choose to utilize the Power Point version without voice over. Good luck and feel free ask me any questions or to share any feedback with me. Good Selling!!! (Note: Use the side slide bar as needed on the video). Merle Schneider View the Video To download the full PowerPoint Show Click Here To download the PDF File Click Here

Plan Your House Hunting Efficiently and Avoid Stress

With so many houses on the market now, buyers can be overwhelmed if they don’t have a plan.

With the number of houses on the market now, searching for that perfect property can be time consuming and sometimes frustrating. The number of homes potential buyers want to see has increased dramatically in the last couple of years, with buyers searching for the perfect home at the perfect price.

How do you cut through the process and become efficient in your search? First, be honest with yourself and your Realtor. Make a list of all the features you want in a home and stick to it as much as possible. That includes location. By not straying, you and your agent can be much more efficient.

Be fair about what you can pay. While homes at the very upper end of your budget may dazzle you, spending time on the unobtainable is inefficient. Keep in mind that buying a house is a very long-term financial commitment.

Almost nine out of 10 homebuyers start their search online. Here you can see virtual tours and get a feel for the property. Download the information and put it in a binder that you will refer to frequently. Set up a driving tour by using an online map application. That will guide you in a logical route and you won’t waste time and gas.

The market has been flooded with short sales and foreclosures. What if the home you find falls in one of those categories? Are you ready and patient enough to deal with the special circumstances surrounding these properties? The bank owns foreclosures and there is virtually no variation in price, plus the property may have been neglected and will need extensive repairs after you buy it. Short sale properties are usually in better shape, but, since the buyer will be dealing with the seller as well as the bank, negotiations can take months. If you see a foreclosure in your future, work with a Realtor who specializes in this type of sale. You want an agent who is experienced and can work through this lengthy process.

Trust your emotions. If you feel an initial connection with the home, give it serious consideration. Be cautious about seeing the next home and the next home, hoping an amazing bargain is right around the corner when you heart lies with the first one you saw.

When you find that special home, be flexible during negotiations. Just because more homes are available doesn’t mean you can walk away with a very lowball offer. You want to get to a place where both you and the seller are comfortable and the price is fair market value.

With a bit of focus and planning you can land your new home efficiently and start your new life without stress and tension.

Repairing Your Credit After a Foreclosure

Repairing your credit after a foreclosure will take some time but is possible
Understanding why your home went into foreclosure and making financial adjustments will go a long way toward buying another home

Enduring a foreclosure on your home is painful and disheartening. Even though the past three years have been tough for many homeowners, being in the same boat doesn’t make the situation any better. Foreclosures have many ramifications for the family, the least being a damaged credit score that could prevent future homeownership.

All is not lost. A foreclosure stays on your credit record for seven years, while a bankruptcy is 10 years. While you won’t own another home with a mortgage in the near future, you can look to the future and begin making repairs.

First, examine the cause for the foreclosure. Possibly a job loss or health issues prevented you from making mortgage payments. In these cases you can apply to Fannie Mae or Freddie Mac in three years. If the foreclosure is due to financial mismanagement, the waiting period is seven years.

Request a copy of your credit report from all of the three credit bureaus–Trans Union, Experian and Equifax–and write a detailed explanation of the foreclosure for each bureau. This is especially important if the foreclosure was the result of health issues or a job loss. It’s not going to change your score now, but in the future the facts may help you look credible to a potential lender. You can receive a free credit report by going to annualcreditreport.com.

Pay your bills on time. Credit reports look at payment history, so it is extremely important to make regular payments on your accounts, including utilities. You will demonstrate that you are now stable and have a consistent financial plan in place. That makes you more appealing to lenders.

Oddly enough, you should apply for credit. Just a little at a time, but having a car payment, a credit card or a department store revolving charge will begin the rebuilding process. Don’t go crazy though–keep you purchases low and pay them off every month.

Plan a budget and adjust your spending habits. Doing this will relieve more financial stress. Keep track of how you’ve spent money and evaluate those purchases at the end of each month. You’ll have physical proof of what you bought and can determine if that purchase was really necessary.

By being patient and practicing financial discipline for the next few years, you may indeed be able to purchase another home and start a better life.

Seed Catalogs Herald the Beginning of Spring Planting

Make a plan, choose wisely and use native plants for a low-maintenance gardening experience.

The seed catalogs begin arriving. Beautiful, verdant pictures of luscious flowers blooming merrily along in sculpted gardens, all framed by well maintained rolling lawns. Leafing through the catalogs is certainly a fine diversion to chase away the gray January clouds and a way to begin planning your spring garden.

Now, for a douse of reality. Those vibrant pictures of flowering roses, deep purple clematis, impatiens bursting in oranges, pinks and lavender¬–they live in a controlled climate carefully tended by nursery people who care for them correctly, not in our Missouri yards.

So, keep in mind that what you see in the catalogs may not exactly work here. There’s no harm in dreaming, but as you begin to plan for spring, think of the reality of your yard and how much effort you will contribute to keeping it up.

While we can’t promise a no-maintenance landscape, we do have some suggestions for a low maintenance garden.

Begin with a plan

Whether you are starting from scratch or refreshing your current garden, a plan is a must. Look at the environmental aspects of your space and designate shady areas, full sun gardens, windy areas and extremely dry or wet locations. When you’ve completed your assessment move on to choosing the appropriate plants for the right spots.

The design

As with most things simplicity, is much more elegant than an explosion of plant clutter. Each plant should serve a purpose, whether as ground cover, a backdrop or bits of color throughout a coordinated scheme. Give each plant enough room to grow, and be very generous with mulch. This nurtures plants, if you choose organic mulch, and reduces the need to water. Plants grouped into small beds are more eye-catching than a sweeping view more suited to public spaces. Small beds are also easier to maintain, which means success for you. The

Missouri Extension Service has landscaping guides and plans that will be quite helpful.

Plant selection

When choosing your plants, keep in mind the Missouri summers that can be extremely oppressive in July and August. That kind of heat stresses plants and the people who care for them. Choose plant matter that can handle low watering and high heat.

The best bet for low maintenance plants are native ones. These plants live here in Missouri and have adapted well to the climate. Grownative.org, a cooperative project between the Missouri Department of Conservation and the Missouri Department of Agriculture is an excellent resource to stock your garden with natives that you can enjoy the whole growing year with a minimum of effort. The Missouri Botanical Garden also offers Plants of merit that will grow well here.

Curl up with the delicious seed catalogs as the cold winter wind blows outside. Choose wisely and decide how much work you are willing to contribute to your garden. Then you’ll have great success and an enjoyable summer.

Aaron's Auto Grand Opening Special!

Jan. 2011 Calendar of Events

January-February
Bald Eagle viewing and events
Various dates and locations
The eagles return. The Middle Mississippi River Valley is home to the second largest population of bald eagles. Various state agencies and parks, nature and other local organizations and communities celebrate our nation’s symbol with many types of viewing and educational opportunities. Participants can find those activities here.

Friday, January 7
Star Party
6:45 p.m.
St. Louis Science Center
View the brilliant night sky with the St. Louis Astronomical Society. The Society and the Science Center will provide telescopes and answer questions. For more information, call 314-289-4453 or visit the Science Center website.
FREE

Saturday, January 8
All about the farm
Primrose Farm
10 a.m. and 2 p.m.
5N726 Crane Rd.
St. Charles Park District
Learn about the historic Primrose Farm during farm story time from 10-11 a.m. Enjoy a snack and visit with the farm’s animal residents. At 2 p.m. guests can have a hands-on experience with farm animals and learn more about their care and feeding. Classes are available for both events. Primrose Farm provides interpretative experiences about life in the 19th century on a farm and how technology has changed farming life. For more info, call the farm at 630-513-4370.

Friday, January 21
Russian National Ballet presents Romeo and Juliet
8 p.m.
Bezemes Family Theater
Lindenwood University
This full length ballet is performed by the Russian National Ballet in a dramatic and visually stunning production featuring more than 50 dancers in the great Russian ballet tradition.
For more information and to purchase tickets call the box office at 636-949-4433 or vist the J. Scheidegger Center for the Arts webpage.

Daily through April 3
Treasures of Napoleon
Missouri History Museum
Forest Park
Daily 10 a.m.-5 p.m.
Tuesday 10 a.m.-8 p.m.
Look inside the private life of Napoléon Bonaparte, the Corsican general who attempted to conquer Europe and North Africa. Here is a look behind the legend with a showcase of his personal possessions, historic artifacts and paintings. For info and tickets, go to the History Museum’s website or call 314-746-4599.

Saturday, January 29
Fete De Glace
9:30 a.m.-3:30 p.m.
Historic Downtown
Fete de Glace or the Festival of Light is an outdoor ice-carving competition where skilled carvers from around the region turn blocks of ice into amazing creations. Coffee, hot chocolate and fire pits are available for warmth. Call 636-946-1898 for more info.
FREE

Saturday, January 29 and Sunday, January 30
The Great Train Expo
St. Charles Convention Center
10 a.m.-4 p.m.
This is the place to be for model railroad enthusiasts. The show offers a variety of model railroad and toy layouts in many different scales and gauges. Hundreds of dealers will display their wares and model train experts are there to answer your questions. There are also free workshops for beginners and more experienced collectors. For information, call the Convention Center at 636-669-3000 or visit the Expo’s website.
Adults $7/ kids 12 and under FREE