urbanSTL

Looks amazing - seems to have a lot of warmth for a big open space.

great pics. the space looks great. hey irock, do you have any idea where the lights above the island came from? we're looking for something cool to put above our island and those look cool!

^Most likely http://www.techlighting.com . We were able to pick any lighting from there for our lofts, most of it standard.

BL211 wrote:great pics. the space looks great. hey irock, do you have any idea where the lights above the island came from? we're looking for something cool to put above our island and those look cool!

The lights are by Tech Lighting. A great place to buy your lights is www.lightology.com. The lights in the photo still have the protective bubble wrap around them so here is a link to how they really look. http://www.lightology.com/index.cfm/met ... ept_label-

That looks awesome, it is a great loft building!

irocktheparty2000 wrote:

BL211 wrote:great pics. the space looks great. hey irock, do you have any idea where the lights above the island came from? we're looking for something cool to put above our island and those look cool!

The lights are by Tech Lighting. A great place to buy your lights is www.lightology.com. The lights in the photo still have the protective bubble wrap around them so here is a link to how they really look. http://www.lightology.com/index.cfm/met ... ept_label-

ahhhhh bubble wrap. silly me, i thought it was an organic design or something like that like the gehry fixtures from dwr. i guess i wouldn't have expected the bubble wrap to still be on while the light was on.



i saw those lights in one of the 2nd floor units a while back, they are cool.

This is really, really beautiful. Hope you enjoy.

Has anyone closed on their loft yet? What is the going rate for Loft mortgage?

Many have closed. Fifth floor closings either are happening or will be happening in a matter of days. I locked my rate long ago, but I think currently rates are hovering between 6.4-6.5%(30 yr std fixed).

Thanks Urban. Those sound high. Is it a high market, or are loft rates non standard (which I doubt).



Out of curiosity, are people already moving in?

I'm confused by your question. The 6.4-6.5% is the market rate for all 30 yr. fixed mortgages in Missouri currently. If you get a lower rate than that, it is because your loan is being subsidized by someone. That someone might be you bank, your lender, the government, or even the builder.



And yes people are moving in. Everyone up to the 4th floor is moved in.

^^ I get a kick out of people who think 6.5% for a 30 yr mortgage is high. I remember paying 18% and feeling like I got a deal (yah, I'm 42)!

^Exactally what I think anytime I hear anyone complaining about a 6.5% mortgage, that they really don't know much about mortgage history. My dad told me when he bought his current home rates were at 14%.......

6.25%. No subsidies.

^I think it's odd that you paid 6.25% when Meridian was offering special financing. I talked to someone who got 5.3% in that building recently. All he had to do was put 10% down, go through the builder's lender, and agree to live there some specified amout of time as his primary residence. Not sure who subsidized it, must have been the builder of the lender.



[EDIT]Also it does look like mortgage rates have dropped since I had last checked. They are indeed now hovering around 6.25%

^That deal was for lightwell units.

Ah, they must have expanded that to sell out the building, because he bought an outside facing unit.

^The lender told me it was for lightwell units. But that was about 2 months ago.

That explains it because he just bought the unit two weeks ago.

From what I have seen of Loftworks projects they look to be pretty good quality with affordability in mind. This is for anyone that is a MB owner, now that everything is wrapping up with Moon Bros what is your overall impression of loftworks? Did they meet or surpass your expectations for a developer? (ie updates on building construction, value vs price, customization options, estimated timeline for construction to actual timeline) I ask because I have a friend that is looking to purchase at the Syndicate and wanted some unbiased opinions. Btw I think MB looks great, in my opinion one of the best values (price/for what you get) around the downtown loft area.

Urban Elitist wrote:I'm confused by your question. The 6.4-6.5% is the market rate for all 30 yr. fixed mortgages in Missouri currently. If you get a lower rate than that, it is because your loan is being subsidized by someone. That someone might be you bank, your lender, the government, or even the builder.



And yes people are moving in. Everyone up to the 4th floor is moved in.

Maybe I should have qualified more. I thought the 30 Yr was at 6% (so thought that the additional .4-.5% was "high"). It was a relative term (I was NOT comparing it to 18% )



Anyway, the reason for asking was that some of the developers are also merging/collaborating with some lenders to offer special rates and I was wondering if they were asking higher than market with 10% (as opposed to the standard 20%). I did not know if I missed the 6.5% as today's rate (which would have been higher than 6% which I believe was 30 Yr yesterday).

Manchester wrote: This is for anyone that is a MB owner, now that everything is wrapping up with Moon Bros what is your overall impression of loftworks? Did they meet or surpass your expectations for a developer? (ie updates on building construction, value vs price, customization options, estimated timeline for construction to actual timeline) I ask because I have a friend that is looking to purchase at the Syndicate and wanted some unbiased opinions.

Maybe start a seperate thread for that. There are many LW properties and you can get opinions from other buildings besides Moon.

Today's mortgage rate 30 Yr fixed, MO is 6.125 thru Amerisave. I am sure there are other lenders offering similar rates (no points). Yesterday's was 6.075.

Rates are creeping down, have been for the past few months. I hope they continue to go down. Maybe we'll get another housing boom.