Monday, June 27, 2011

Tulsa, OK. Home for Sale

Tulsa, OK. Home for Sale

5821 East 101 Place
Forest Meadows Addition in Tulsa, OK.

$317,000

4 Bedrooms
2 Full 1 Half Bathrooms
2 Car Garage
3 Living Areas

For more information on this Tulsa, OK. Home for Sale or for all your Tulsa residential real estate needs, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Friday, June 24, 2011

Lawmakers Fight Over 20% Downpayment Requirement

Currently, a proposed law would require a 20% downpayment for all Qualified Residential Mortgages. There are concerns by many lawmakers and real estate professionals that this requirement would hinder the recovery of the real estate market. Read on for more details about this proposed law and how lawmakers are attempting to change the federal regulators minds...

More Lawmakers Fight 20% Down Payment

A proposed 20 percent down payment rule for qualified residential mortgages is too high, argues a growing group of lawmakers in the House of Representatives.


Late last week, about 240 lawmakers in the House sent a second letter to federal regulators urging them to lower the down payment rule on QRMs. Last month, about 150 lawmakers had signed a letter urging the same.

"The resultant reduction in demand for housing, due to an overly burdensome government dictate, would only add to the challenges the housing market faces, and could threaten a full-fledged economic recovery from years to come," the most recent letter reads.

The 20 percent down payment rule arises from an effort of several federal agencies that have been trying to urge more responsible lending and borrowing. The agencies created a proposed risk-retention regulation under the Dodd-Frank Wall Street reform law, which requires lenders that securitize mortgage loans to retain 5 percent of the credit risk unless the mortgage is considered a safe mortgage or a “qualified residential mortgage.” (FHA and VA mortgages would be exempt.)

QRMs would be exempt from the 5 percent credit requirement but would have to meet certain guidelines, such as the proposed 20 percent down payment requirement. Borrowers with less than 20 percent down could then be forced to pay higher fees and interest rates.

A 20 percent down payment requirement would cause more first-time buyers to flee from the already fragile housing market, analysts at Capital Economics say.

The National Association of REALTORS® also has been an outspoken critic of the proposal, saying that a 20 percent down payment requirement would jeopardize a housing recovery.

Source: “More Lawmakers Join Major Push to Reduce QRM Down Payment,” HousingWire (June 20, 2011)

To read the original article in Realtor Magazine, "More Lawmakers Fight 20% Down Payment", visit the link.

For Tulsa, OK. real estate needs, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Thursday, June 23, 2011

Termites, When Will You Get Them in Your Home?

I am sure that there are many who are saying that they have never had termites in or around their home. In Oklahoma, the saying goes that "it's not if you get termites, it's when you get termites". According to our friends at Montgomery Exterminating, termites "break down plant and wood material" by tunneling underground until they get to a source of that material, your home for example. One of the main problems with termite damage is that they eat from the inside out. When you finally see the damage, often you can end up with structural damage as a result. In addition to your home, they will eat furniture, paper, fences, cloth and books.

Did you know?
  • Termites on earth outweigh humans on earth!
  • Over 5 million homes have some type of termite damage.
  • Termite damage is more common than storm, fire, and earthquake damage.
  • Your homeowners insurance will not likely cover termite damage.
So, what do you do to prevent termites from damaging your home?

Montgomery Exterminating uses the Sentricon Colony Elimination System to kill the termite colony and prevent any further damage to your home. For more information on Tulsa, OK. termite elimination or the Sentricon Colony Elimination System, contact Duane Montgomery, Montgomery Exterminating, 918-438-4885 or www.montgomeryexterminating.com.

Wednesday, June 22, 2011

12 Million Home Automation Systems to Be Installed by 2016

Although Home Automation Systems are popular in many Tulsa luxury homes today, they are forecasted to drastically increase by 2016. According to ABI research, "Shipments of home automation systems will total about 1.8 million worldwide this year. But according to ABI Research, that number is set to rise sharply soon, exceeding 12 million in 2016. These figures are contained in a new home automation study from the firm, which confirms its previous forecasts."

ABI believes that the sharp increase in system installations will be a result of new technology. In addition to new technology, innovation such as the new Google Android@Home could make it easier to control and access home automation systems from devices such as smartphones.


For more information, visit the article,
" 'No New Wire' technologies to drive home automation market to 12 million systems in 2016, says ABI Research" by Julien Happich.

For Tulsa, OK. home automation system installation, contact Keegan Beck of KMB Enterprises LLC at 918-527-1031 or www.kmbenterprisesllc.com.

To buy a Tulsa, OK home with a home automation system, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Tuesday, June 21, 2011

Why do I need a survey when I build a new home or addition?

When you decide to build an addition or a new home in Tulsa, you will need a survey. A survey shows where the property lines are as well as any buildings, easements, driveways, or encroachments on the property such as a neighbor’s driveway. You might say, “I don’t need a survey, I have a plat map”. A plat map only shows the property boundaries, it doesn’t show easements or encroachments which can cause a problem with a legal title. A survey will ensure that anything you are building is not on someone else’s property or easement. It will also help if you have acreage and decide to sell some of it later.

For more information on Tulsa, OK. land surveys, titles, and the closing process, contact JJ Pierce at Closings of Tulsa at 918-493-2241 or www.closingsoftulsa.com.

For real estate in the Tulsa, Oklahoma area contact Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com.

Monday, June 20, 2011

Spectacular Tulsa, OK. Luxury Home For Sale...

Tulsa, OK. Luxury Home For Sale

1714 East 35th Street
Adams Estates in Tulsa, OK.

$749,900

5 Bedrooms
5 Full, 2 Half Bathrooms
4 Living Areas
2 Car Garage

For more information on this spectacular Tulsa, OK. luxury home for sale or to buy or sell Tulsa, OK. real estate, contact Kelly Howard, Tulsa Luxury Property Group at McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Thursday, June 16, 2011

New Flood Insurance Rate Maps

Many property owners in the Tulsa, OK. area are finding out that they will soon be required to purchase flood insurance on their property due to changes in the flood insurance rate maps. There are areas that are being changed: some will now be required to purchase flood insurance on their property and others who may be able to drop the flood insurance on their property. These FEMA Flood Insurance Rate Maps (FIRMs) changes take place in 2012.

If you have questions or wish to see what changes may have been made to your property, visit the resources below:

  • www.riskmap6.com Once at this address, select Oklahoma and enter your county. Areas added to the flood plan will appear in red and areas removed from the floodplain appear in green.
  • Contact Bill Robison at 918-596-9475 to view the hard copies of the maps or for questions.
Those who have received a letter with changes, may protest during the 90 day appeal process, which will end sometime in July 2011. To protest, contact Bill Robison at 918-596-9475 or brobison@cityoftulsa.org. Don't forget to include the following information: your name, contact information, property address or legal description, and why you feel there is an error.

When the maps become effective, those with a federally backed mortgage, will be required to purchase flood insurance in accordance with federal regulations. You may receive a cheaper rate if you purchase flood insurance before the new rates are effective. For more information on flood insurance visit: www.floodsmart.gov or www.cityoftulsa.org/city-services/floodcontrol/2012-floodmaps.aspx.

For all your Tulsa, OK. area insurance needs, contact Mike Tedford, Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.

For questions regarding the new flood insurance rate maps and your Tulsa mortgage, contact Steve Currington, Currington Mortgage, 918-394-5626 or www.curringtonmortgage.com.

For all your Tulsa, OK. real estate needs, contact Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com.

What's Going on in the Real Estate Market?

The article, "Home Inventories Grow, Prices Fall" found at RealtorMag.com (Daily Real Estate News-June 16, 2011) cited some interesting real estate market statistics. Check them out below or follow the link above.

The inventory of for-sale homes grew in May by 3.5 percent, which marks the biggest monthly increase of the year, according to the latest housing data from Realtor.com. However, overall inventories dropped 14.3 percent compared to a year ago at this time.

Median asking prices for homes were down last month, falling 1.6 percent which follows two months of increases, the data shows.

Some of the largest declines were seen in Chicago and Tampa, Fla, where asking prices were down 5.7 percent from April, and in Phoenix prices were down 5.4 percent.

Listing prices increased in only 10 of the 146 markets tracked by Realtor.com. Denver and Washington, D.C., posted some of the largest listing price increases.

The National Association of REALTORS® will release next week its report on sales and inventory of existing homes.

For your Tulsa, OK. residential real estate needs, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Wednesday, June 15, 2011

Homes for Sale in South Tulsa

Jenks, OK. Luxury Home

11808 South New Haven
Scissortail at Wind River in Jenks, OK.

$785,000

4 Bedrooms
4 Full, 1 Half Bathrooms
3 Car Garage
Jenks School District
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Bixby, OK. Home for Sale

14493 South Lakewood Ave.
The Ridge at South County in Bixby, OK.
$339,990

4 Bedrooms
3 Full, 1 Half Bathrooms
3 Car Garage
Bixby School District
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Broken Arrow, OK. Home For Sale

2500 South 15 Street
Washington Lane III in Broken Arrow, OK.
$299,000

4 Bedrooms
3 Full, 1 Half Bathrooms
2 Car Garage
Broken Arrow School District



For information on these South Tulsa Homes for Sale or to buy or sell Tulsa, OK. area real estate, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Friday, June 10, 2011

Homeownership Survey- What do Americans Think?

According to a recent survey, "Despite the ups and downs of the housing market, home owners and non-owners alike consider owning a home essential to the American Dream." (RISMedia, June 10, 2011). Part of the survey information is found in an article, "Owning a Home Essential to the American Dream, Survey Shows" posted recently by RISMedia.

Americans are looking further than what the housing market is doing currently. Survey shows that Americans are looking into the future and seeing the value of owning a home long term. What are some other survey results?

• "Homeownership and a retirement savings program are considered by voters to be their best investments."
• "80 percent of home owners would advise a close friend or family member just starting out to buy a home."
• "Saving for a downpayment and closing costs is the biggest barrier to homeownership."
• "Americans believe that owning their own home is as important as being successful at their job or being able to pay for a family member’s education."


To read the entire article,
"Owning a Home Essential to the American Dream, Survey Shows" posted recently by RISMedia visit the link.

For Tulsa, OK. real estate needs, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Thursday, June 9, 2011

Condos For Sale in Tulsa, OK.



Enjoy the View from these Charming Spacious Condo's just Steps Away from the River Parks. Downtown and major interstates are only minutes away.


3731 South Riverside Drive
Tower Court Condo's in Tulsa, OK.

$172,900

3 Bedrooms
2 Full 1 Half Bathrooms
2 Car Attached Garage
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3727 South Riverside Drive
Tower Court Condo's in Tulsa, OK.

$169,900

3 Bedrooms
2 Full 1 Half Bathrooms
2 Car Attached Garage
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3729 South Riverside Drive
Tower Court Condo's in Tulsa, OK.

$169,900

3 Bedrooms
2 Full 1 Half Bathrooms
2 Car Attached Garage


To sell your Tulsa, OK area Condo or to find condominiums for sale in Tulsa, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com





Wednesday, June 8, 2011

Tulsa, OK. Area Luxury Home for Sale


Elegant Luxury Home For Sale in Bixby, OK.

13420 S. Lewis Ave.
$999,000

13420 South Lewis Avenue in Bixby, OK
The Estates of Hampton Hills Addition

5 Bedrooms
5 Full, 1 Half Bathrooms
3 Car Garage



For more information on this Tulsa, OK area luxury home for sale or to buy or sell real estate in the Tulsa, OK area, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.







Sunday, June 5, 2011

Is Tulsa, OK Home Ownership Still a Good Investment?

After home values dropped the last couple of years, some are asking, "Is Tulsa, OK. home ownership still a good investment?" In a recent article posted in Realtor Magazine, entitled "Americans: Home Ownership Still a Great Investment", Americans surveyed agreed that home ownership was still a great long term investment. This group surveyed included homeowners who were underwater in their mortgages. For more interesting information included in this article, read on:

Seventy-five percent of Americans say that “owning a home is the best long-term investment they can make and is worth the risk of ups and downs in the housing market,” according to a new survey of 2,000 bipartisan voters by the National Association of Home Builders.

Despite their situation whether underwater on their home or even renters the survey found Americans to be optimistic about home ownership. Eighty-one percent of those who own their homes outright, 76 percent with mortgages, 67 percent of renters, and 65 percent who have underwater mortgages cited home ownership as the “best long-term investment.”

When survey respondents were asked whether they’d recommend buying a home to a friend or family member just starting out, 80 percent of Americans said “yes.” Even home owners currently underwater those who owe more on their mortgage than their home is currently worth overwhelmingly (78 percent) said they would recommend home ownership to family or friends starting out.

More buyers are coming up through the pipeline too. The survey found that 73 percent of those surveyed who do not own a home said their goal is eventually to buy one.

The NAHB survey also found:

58 percent of Americans oppose eliminating the mortgage-interest deduction and 63 percent oppose lowering it. What’s more, 57 percent of those surveyed say they are less likely to support a candidate for Congress who wanted to eliminate the mortgage-interest deduction.
Respondents were split on about requiring a 20 percent down payment to purchase a home: 49 percent were in favor and 49 percent opposed it. However, mortgage holders and renters aged 18 to 54 were more opposed to it: 58 percent of younger mortgage holders and 59 percent of younger renters opposed adding a 20 percent down payment requirement.

Source: “The Cook Report: The Home Front,”
National Journal (June 2, 2011)


For Tulsa, OK residential real estate, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Wednesday, June 1, 2011

Tulsa, OK. Area Homes for Sale


Charming Old World Home in Jenks, OK!

6338 East 111th Place
Woodfield Village in Tulsa, OK.

$325,000

3 Bedrooms
2 Full 1 Half Bathrooms
2 Car Garage

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New Construction in Bixby, OK!

14558 South Urbana Court
The Auberge in Bixby, OK.

$214,900

2 Bedrooms
2 Full 1 Half Bathrooms
2 Car Garage


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Gated and Secluded Luxury Estate in Bixby, OK

1724 East 151 Street
in Bixby, OK.

$2,675,000

5 Bedrooms
6.5 Bathrooms
4 Car Garage


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Gorgeous Luxury Estate on Over 1/2 Acre in Bixby, OK.

11707 South Fulton Avenue
Forest Hills Estates in Bixby, OK.

$725,000

4 Bedrooms
3 Full 2 Half Bathrooms
3 Car Garage

For more information on these Tulsa, OK area homes for sale or to buy or sell your Tulsa, OK area home contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.