News of unrest, violence and protests in communities across the country have become far too common in the past year. Fall 2014 was filled with similar stories from the community of Ferguson, MO.
Such reports can have an impact on real estate prices and the demand for homes in the area. So it makes one wonder where the market stands today.
According to Bryan Schroeder, owner of FasterHouse, LLC, and a real estate investor in the St. Louis metro area, the community of Ferguson is a market in which he has great interest. “Just speaking from a personal perspective, I have bought homes in Ferguson in the past year and have seen their values appreciate. We have a number of rental homes in the community and have found significant interest from highly qualified tenants who have a desire to live within the community. We have rented available homes in Ferguson in a very short period of time in the past few months.”
One example from the FasterHouse rental portfolio is a 3 bedroom home they purchased in October 2014. Ferguson’s real estate market went through the same downturn starting in 2007 that all other markets experienced across the country. Home prices decreased substantially for a number of years.
However, even with the events of Fall 2014, this particular home has increased in value 28% in the past 6 months. FasterHouse listed this house for rent and had a qualified tenant sign a lease in a matter of days. Schroeder says this is a sign that the community is strong and rebounding in a fashion similar to many other real estate markets.
St. Louis County is investing substantial money cleaning up the areas that were destroyed during the protests. Businesses that were displaced are returning and establishing themselves once again. Corporations and other entities are funding grant programs to help schools and churches and to create job and educational programs in the region. All of these actions point to the belief that Ferguson can return to the strong, vibrant community with an active small town business atmosphere it has enjoyed for decades.
“I still believe in Ferguson and will continue to invest money in its real estate market,” says Schroeder.
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