Friday, October 15, 2010

Questions for the 2010 Oklahoma State Ballot #7

As Tulsa residents, the upcoming election in November will be very important. There are a record 11 questions on the Oklahoma State Ballot. As Tulsa voters, it is important to be aware of each question on the ballot so that we can make well informed decisions. After all, these decisions will affect Tulsa for years to come. So far we have given an overview of SQ 744, SQ 746, SQ 747, SQ 748, SQ 750, SQ 751, SQ 753, and SQ754- 8 of 11 questions on the Oklahoma State Ballot for November 2010. Today, we will discuss the seventh and eight of the eleven Oklahoma state questions- SQ 755, SQ756, and SQ 757.

SQ 755: This measure amends the Oklahoma Constitution. It changes a section that deals with the courts of this state. It would amend Article 7, Section 1. It makes courts rely on federal and state law when deciding cases. It forbids courts from considering or using international law. It forbids courts form considering or using Sharia Law.

International law is also known as the law of nations. It deals with the conduct of international organizations and independent nations, such as countries, states, and tribes. It deals with their relationship with each other. It also deals with some of their relationships with persons.

The law of nations is formed by the general assent of civilized nations. Sources of international law also include international agreements, as well as treaties.

Sharia Law is Islamic law. It is based on two principal sources, the Koran and the teaching of Mohammed.

SQ 756: This measure adds a new section of law to the State Constitution. It adds Section 37 to Article 2. It defines "health care system." It prohibits making a person participate in a health care system. It prohibits making an employer participate in a health care system. It prohibits making a health care provider provide treatment in a health care system. It allows persons and employees to pay for treatment directly. It allows a health care provider to accept payment for treatment directly. It allows the purchase of health care insurance in private health care systems. It allows the sale of health insurance in private health care systems.

The measure's effect is limited. It would n ot affect any law or rule in effect as of January 1, 2010.

Nor could the measure affect or negate all federal laws or rules. The United States Constitution has a Supremacy Clause. That clause makes federal law the supreme law of the land. Under that clause Congress has the power to pre-empt state law. When Congress intends to pre-empt state law, federal law controls. When Congress intends it, constitutionally enacted federal law would pre-empt some or all of the proposed measure.

SQ 757: This measure amends the State Constitution. It amends Section 23 of Article 10. It increases the amount of surplus revenue which goes into special fund. That fund is the Constitutional Reserve Fund. The amount would go from 10% to 15% of the funds certified as going to the General Revenue fund for the preceding fiscal year.
This information provided by "Do You Have the Answers?" by Sid Sperry published in Oklahoma Living Magazine.

For more information about SQ 755, SQ 756, or SQ 757 or any other question on the November 2, 2010 ballot, visit the www.okpolicy.org website or visit www.ballotpedia.org.

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

Thursday, October 14, 2010

How New FHA Changes Could Affect Home Buyers

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How New FHA Changes Could Affect Home Buyers

Earlier this week, the Federal Housing Administration (FHA) implemented changes to the premium structures for an FHA-backed mortgage.

My membership in the Top 5 in Real Estate Network® requires that I, along with my team, remain committed to keeping our clients and consumers informed, so it's important that we let you know that these changes may make it more costly for home buyers to procure FHA loan products.

In the wake of the real estate decline and credit freeze of the past three years, FHA-insured loans soared as borrowers sought alternative avenues for securing affordable mortgages. The FHA loan is popular because its minimum down payment is 3.5%, whereas most conventional loans require a much higher down payment. Recently, however, housing experts have raised concerns about FHA's shrinking funds and its ability to handle increasing defaults, sparking the agency’s impending regulation changes.

According to CNNMoney.com, FHA reported that its reserve fund has dropped to 0.53% of its insurance guarantees, well below the 2% ratio mandated by Congress and the 3% ratio it had last fall. This fund covers losses on the mortgages the agency insures. FHA borrowers pay for the insurance that backs their loans in the form of an upfront premium and an annual premium.

The agency has seen a spike in delinquencies amid the mortgage meltdown. Some 14.36% of FHA loans were past due in the third quarter, according to the Mortgage Bankers Association. To compensate for its rapidly depleting reserve fund, the following changes will be implemented to FHA lending:

  • Upfront mortgage insurance premiums will decrease from 2.25% to 1.00%.
  • At the same time, the 0.55% annual premium will be increased to 0.85% for mortgages with loan-to-value ratios up to and including 95%, and to 0.90% for loan-to-value ratios above 95%.
  • Borrowers will be required to have a credit score of at least 580 to qualify.

These changes in FHA lending may be paving the way for conventional financing with private mortgage insurance (MI) to make a comeback in lending for low down payment buyers. According to loan experts, both MI and FHA have their place, but borrowers should consult with their real estate professional and lender to determine what loan options are best for their particular situation.

For more information on FHA lending, please e-mail our team, and please forward this email to others who might be unaware of how they may be impacted by these important changes.

Darryl Baskin
McGraw Realtors
Office: 918-258-2600
Mobile: 918-740-0077
Darryl@DarrylBaskin.com
http://www.DarrylBaskin.com

Posted via email from The Baskin Report

Wednesday, October 13, 2010

Questions for the 2010 Oklahoma State Ballot #6

As Tulsa residents, the upcoming election in November will be very important. There are a record 11 questions on the Oklahoma State Ballot. As Tulsa voters, it is important to be aware of each question on the ballot so that we can make well informed decisions. After all, these decisions will affect Tulsa for years to come. So far we have given an overview of SQ 744, SQ 746, SQ 747, SQ 748, SQ 750 and SQ 751- 6 of 11 questions on the Oklahoma State Ballot for November 2010. Today, we will discuss the seventh and eight of the eleven Oklahoma state questions- SQ 753 and SQ 754.

SQ 753: This measure amends a section of the Oklahoma Constitution. It amends Section 3 of Article 7-B. The measure deals with the Judicial Nominating Commission. This Commission selects nominees to be appointed judges or justices, when a vacancy occurs. The Commission selects three, sometimes four, qualified nominees. The Governor must appoint one of the nominees.

The amendment adds two at-large members to the Commission. At -large members can come from any Oklahoma congressional district. The Senate President Pro-Tempore appoints one of the new at-large members. The Speaker of the House of Representatives appoints the other. At-large member can not be lawyers. Nor can more than two at-large members be from the same political party.

Six non at-large members are appointed by the Governor. They cannot be Oklahoma lawyers. The measure adds a new qualification for non-lawyer members. They can not have a lawyer from any state in their immediate family. Each congressional district must have at least one non-lawyer member.

Six lawyer members are elected by members of the Oklahoma Bar Association. Each congressional district must have at least one-lawyer member.

SQ 754: This measure add a new section to the Oklahoma Constitution. It adds Section 55A to Article 5. The Legislature designates amounts of money to be used for certain functions. These designations are called appropriations. The measure deals with the appropriation process.

The measure limits how the Constitution could control that process. Under the measure the Constitution could not require the Legislature to fund state functions based on 1) Predetermined constitutional formulas; 2) How much other states spend on a function; 3) How much any entity spends on a function.

Under the measure these limits on the Constitution's power to control appropriations would apply even if: 1) A later constitutional amendment changed the Constitution, or 2) A Constitutional amendment to the contrary was passed at the same time as this measure.

Thus under the measure, once adopted, the measure could not be effectively amended. Nor could it be repealed.

This information provided by "Do You Have the Answers?" by Sid Sperry published in Oklahoma Living Magazine.

For more information about SQ 753 or SQ 754 or any other question on the November 2, 2010 ballot, visit the www.okpolicy.org website or visit www.ballotpedia.org.

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

Tuesday, October 12, 2010

Luxury Homes for Sale in the Tulsa, OK Area

Elegant Luxury Home For Sale in Bixby, OK.

$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

__________________________________

Secluded Owasso, OK Luxury Home For Sale

15601 East 82nd Street North
in Owasso, OK.

$1,900,000

4 Bedrooms
4 Full, 2 Half Bathrooms
4 Car Garage

To buy or sell a home in the Bixby, OK or Owasso, OK area, or to buy or sell Tulsa, OK real estate contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com

Monday, October 11, 2010

Luxury Home for Sale in Jenks, OK.


10808 South New Haven Avenue
Belmont Addition in Jenks, Oklahoma

$1,895,000

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

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

Monday, October 4, 2010

Magificent Jenks Luxury Estate For Sale!

Magnificent Gated Estate!

777 West 106th Street
The Estates at Stone Bluff in Jenks, Oklahoma
$2,999,000

5 Bedrooms
7 Full 1 Half Bathrooms
3 Car Garage

Magnificent Gated Estate with Grand Living Spaces, Groin Vaulted Ceilings, Arched Entries, Reclaimed Beams, Hardwoods, Granite, 2 Story Library, Master/Guest Suite Down + 3 Bedrooms Up with Private Baths. Game/Media Room with Wet Bar.
Pool with Beachfront. Incredible Views!


For more information on this Jenks, Oklahoma area luxury home or to buy or sell your home in the Tulsa, Oklahoma area, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com

Mortgage Shopping 101: Making Sense of the Mortgage Market

Hello, Valued Member! Top 5 in Real Estate Network® Members are dedicated to providing you with the most up-to-date, helpful real estate information. This monthly newsletter, "Real Estate Matters," offers articles on a range of topics that will inform you in your real estate pursuits.

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Buying Selling Owning Financing Home Improvement My Website My Listings
Darryl Baskin
Broker Associate
McGraw Realtors
My Website
Member, Top 5 in Real Estate
Phone:918-258-2600
Cell:918-740-0077
Fax:918-398-5110
Email Me


This month’s newsletter provides a detailed look at today's mortgage market and what you need to know in order to negotiate it today. Real Estate Matters also explores what to watch out for so that your home construction costs don't exceed your budget; great places to find foreclosure bargains; seasonal home insurance questions and more. Top 5 Members are uniquely qualified to not only help you get educated on these matters, but make them as effortless as possible. Only Top 5 Members can provide you with the kind of exclusive information found here in Real Estate Matters - a monthly look at what's really happening in the housing market. It's a privilege to provide you with this important information. Enjoy this monthly e-newsletter, and as always, your feedback is welcomed - call or email any time!

This Month's Top Story

Mortgage Shopping 101 - Making Sense of the Mortgage Market

RISMEDIA, October 4, 2010 - Shopping for a mortgage can be time-consuming and difficult for homebuyers, especially in today’s market where many buyers don’t know where to begin. The Federal Reserve Board has put together the following tips so that you can make sense of the mortgage market and be sure you are getting the mortgage that is right for you.

More Top Stories
Change Orders and Overrun from Ineffective Design Drive Up Construction Expenses
RISMEDIA, October 4, 2010—In taking a closer look at dealing with ways of controlling cost overruns in construction projects, we'll look at a couple of issues identified in attorney Barry LePatner's recent book, Broken Buildings, Busted Budgets: How to Fix America's Trillion-Dollar Construction Industry.
5 Best Places to Find a Foreclosure Bargain
RISMEDIA, October 4, 2010—With a number of real estate markets still reeling in the midst of the nation’s economic crisis, bargains persist for savvy investors looking to add to their portfolios of rental properties. Prices have even gone low enough in some markets for so-called flippers to purchase, rehabilitate and resell properties in the short term.
Top Questions to Ask Your Insurance Agent about Seasonal Home Coverage
RISMEDIA, October 4, 2010—For anyone who owns a seasonal or vacation home, it is crucial to be sure it is properly covered and insured. If you are unsure of the terms under which your seasonal home is insured, now is the time to get in touch with your insurance agent.
Simple Tips for Safer Social Networking
RISMEDIA, October 4, 2010—The popularity of social networking sites such as Facebook, Twitter and LinkedIn is continuing to grow dramatically, but not just with users. Cybercriminals increasingly are targeting these sites and their troves of sensitive, personal information.

Have You Heard About The Top 5 Real Estate Social Networking SystemSM?
Sign up to receive my free, weekly e-Articles - brief, compelling, home-related informational articles that you or your family and friends will find helpful in pursuing your real estate goals! Here are some article samples recently sent out to my Real Estate Social Network:

* This monthly newsletter is brought to you by your Top 5 in Real Estate Network® Member Agent and is intended as educational information only.

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RISMedia, publisher of Real Estate magazine, is dedicated to providing real estate professionals with the most up-to-date news, information and business development resources in the industry. To submit questions, comments, suggestion, press releases or story ideas, please e-mail realestatemagazinefeedback@rismedia.com.

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Posted via email from The Baskin Report