Thursday, February 16, 2012

CRAZY LOW RATES!

Rate on 30-year mortgage stays at record 3.87%

The average rate on the 30-year fixed mortgage held steady at a record low for a third straight week, offering more incentive to those looking to buy a home or refinance. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year home loan was unchanged at 3.87%. That's the lowest level since long-term mortgages began in the 1950s. The average on the 15-year fixed mortgage was also unchanged at 3.16%. That's up from a record low of 3.14% reached two weeks ago.

The low rates have done little to boost the struggling housing market. Rates have been below 5% for all but two weeks in the past year. Yet few people can qualify for the rates and many of those who can have already done so.

Information from USA Today Housing Article dated 2-16-12.

Thursday, February 9, 2012

HOMES THAT ROCK!

Blending a home with the natural elements and materials of its environment is one of the foundations of organic architecture, but the process can present challenges when said natural elements are sheer cliffs, massive outcroppings and protruding boulders.  However, REALTOR.com has identified five architectural wonders that buck conventional trends and conform to the tumultuous terrain. Each design is as uncommon as the next, but each shares one distinctive trait: they are homes that rock.

Tuesday, February 7, 2012

16 TIPS ON PREPARING YOUR HOME TO BE PHOTOGRAPHED

We hire OBEO to do our photography on our new listings. They are professional and do a wonderful job putting a home's "best foot forward."  With all the online marketing that we do as real estate professionals, quality pictures are more important than ever.  OBEO recently put together a list of tips on preparing your home to be photographed for marketing.  Below you will find an exert from that article.

1. Have the lawn mowed, leaves raked, bushes trimmed.
2. When in season, flowers can add a gorgeous pop of color.
3. Remove all vehicles from the driveway and front of the house.
4. Make sure all garbage cans, hoses, garden tools etc. are put away.
5. If you will be doing any twilight photos, be sure to check all outdoor lights and change dim or broken bulbs.
6. Remove any “cute” yard decorations the owner may have put out.
7. Remove any “clutter” inside the home, and put away toys, clothing, dishes, towels, etc.
8. Make the beds.
9. The counter tops in the bathrooms and kitchen should be as clean and as empty as possible.
10. Make sure the kitchen sink is empty and all dishes are put away.
11. Hide the trash cans.
12. Hide personal photos.
13. Replace any light bulbs that are out.
14. Remove any decorations or magnets that are on the fridge.
15. Before the photographer arrives, turn on all lights and open all blinds in rooms to be photographed.
16. Put all the toilet seats and lids down.


CLICK HERE for full article.

Tuesday, January 17, 2012

QR CODES...WHAT'S THE POINT?

QR Code to The Butler Team's Website

Consumers want immediate access to what’s relevant
and QR codes are being used to make that possible.

If you’re not yet familiar with QR codes, they’re similar to the barcodes used by retailers to track inventory and price products at the point of sale. The key difference between the two is the amount of data they can hold or share.

Bar codes are linear one-dimensional codes and can only hold up to 20 numerical digits, whereas QR codes are two-dimensional (2D) matrix barcodes that can hold thousands of alphanumeric characters of information. Their ability to hold more information and their ease of use makes them practical for small businesses.

When you scan or read a QR code with your iPhone, Android or other camera-enabled Smartphone, you can link to digital content on the web; activate a number of phone functions including email, IM and SMS; and connect the mobile device to a web browser.

So...download a QR Code app & scan the symbol above & you'll immediately be taken to our real estate website!

Tuesday, December 27, 2011

TULSA AREA EMPLOYMENT OUTLOOK TIED FOR 5th BEST IN THE NATION!

The Tulsa area's employment outlook for the first quarter of 2012 is tied for fifth best in the nation, according to the latest results of the Manpower Employment Outlook Survey.

Read more from this Tulsa World article HERE.

Monday, August 22, 2011

HOUSING STATS JULY 2011




July 2011 has seen some improvements over last July!  Closed listings are up 30% and Pending listings are up 24%!  Average days on the market is only 60 days.  Since 2007 it's stayed between 51 & 56. For additional stats and trends click here.

Thursday, August 18, 2011

SHORT SALES: Buyers & Sellers Find Process Frustrating

Short sales are among the most arduous real estate transactions, often taking six months or more to close -- if they get done at all.

They can be a life raft for distressed homeowners who owe more on their houses than what they're worth, but the experience depends on a variety of factors, such as the number of lenders involved and whether there's a hardship, mortgage insurance attached or whether the buyer has the patience to stay with the process. A short sale occurs when a lender agrees to accept less than what the homeowner owes. The transaction requires that the homeowner has a financial hardship.
 
Homes with more than one mortgage and mortgage insurance tend to take the longest. A growing reason short sale deals fall through or take longer is because of mortgage insurance purchased after the homeowner closes on the deal and the loan is later sold to other lenders and investors. Often, the bank holding the first mortgage isn't made aware that the second mortgage had been insured until the end of the process, even if both loans are with the same lender. If the mortgage insurance company doesn't sign off on the deal, the process starts over again.
 
These kinds of delays mean buyers walk away because of the time and frustration involved.
 
Pitfalls Abound
The federal government's program to streamline short sales -- know as the Home Affordable Foreclosure Alternatives Program -- has yet to gain traction because it doesn't allow the lender to collect on the home's deficiency.

Many Realtors avoid short sales because they can be so difficult, including Michelle Chappell, an agent with Real Living John Burt Realty in Oxford. She sold a home this spring that took eight months to complete. "This was the last one I sold. I said no more. I won't do it," she said. "They are just heart-wrenching for these buyers." Chappell said the buyers looked at 80 houses before seeing "the one. Whatever bad could happen in this deal, happened," Chappell said. "I don't see any change in short sales. I don't understand that. There should be some kind of general process that everyone goes through. It just differs from bank to bank. It's almost as if they are throwing curves in there."

To read the full USA Today story by Greta Guest, click here.

Thursday, July 28, 2011

6 REASONS TO REDUCE YOUR HOME PRICE

Home not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.

While you’d like to get the best price for your home, consider six reasons to reduce your home price.

These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers:
You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers:
If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes:
Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline:
If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades:
Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed:
If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

Article by G.M.Filisko at http://www.houselogic.com/

Wednesday, July 20, 2011

FEELING THREATENED? How to Use Your Smartphone as a Weapon

A smartphone isn't just for making phone calls. Learn about new mobile apps that can help keep you safe on the job

A range of mobile apps are available — some even designed specifically for real estate professionals — that can do everything from instantly alerting others when you’re feeling threatened to even automatically accessing your GPS coordinates to request help when you need it most. The apps offer discreet ways to call for help when faced in uncomfortable situations, whether encountering squatters in vacant residences, meeting with strangers in empty homes, or even open houses where you never know who will walk through that door next.

Real estate pro Michelle Jones, ABR, GRI, with Realty Austin in Austin, Texas, recently worked with a developer to create Real Alert, a safety mobile app for the iPhone and Android for real estate professionals. She created it after facing some uncomfortable client situations herself that made her begin to question her own safety more. Following recent news of an Iowa real estate agent who was killed at a model home and a San Antonio agent brutally attacked during a showing, Jones’ husband also became fearful of his wife going to showings alone at empty houses with clients she barely knew, and so they came up with the idea for a safety mobile app that would give them both more peace of mind.

“We’re meeting strangers on our job and often we’re alone,” says Jones. “This app can make people feel more secure and it makes you more aware of your surroundings. I’ve been in situations where I’ve been uncomfortable, but I wanted to call for help without alarming the other person. By carrying things that protect ourselves and becoming more aware of the dangers, we’ll be less prey and maybe even prevent more attacks from happening.”

Click here for more information on the 4 safety mobile apps you need to know about:  Moby, Real Alert, Safe TREC, and IcePics.

Story written by Melissa Dittman Tracey at Realtor.org.

Saturday, July 16, 2011

CREATING YOUR DREAM KITCHEN

THE CLASSIC WORK TRIANGLE
Placing your sink, range and refrigerator in a convenient arrangement that fits in your space will naturally result in a "work triangle". Your job is to make that the best triangle possible. Here are some factors to consider:

•The length of the three sides added together should be less than 26 feet, with each side being 4-9 feet. This will give you a work area which is not too cramped, but not so large that you waste time and energy hiking from one place to another.
•Main traffic route should not pass through the triangle. Sometimes this is impossible to achieve, but redirecting traffic outside the triangle is much safer and more convenient for the cook.
•An island or peninsula should not interrupt the triangle. A "barrier island" between major work areas or appliances causes a lot of extra walking (and maybe bumped hips as you swing past the corners of the island on the way to somewhere else).
Kitchen floor plans

However the work triangle in kitchen remodeling is not the only concept...

There's more than one way to approach creating a floor plan for your new kitchen. The classic "work triangle" method dates from the 1950's and involves optimizing the triangle formed by the three main kitchen appliances - sink, range and refrigerator. Your job is to make sure the legs of the triangle are neither too long (too much walking) or too short (everything feels cramped and people get in each others way). Since the 1950's we've added many more possible appliances, and kitchens nowadays can have more than one of some types and more than one cook - so more recently the concept of "work centers" has come into use.
CONTEMPORARY PLANNING: Work Centers
Nowadays the work triangle is not always enough to describe how a kitchen will function. Adding appliances (extra sink, dishwasher(s), separate cooktop and oven(s), microwave oven, etc.) adds extra work stations which the simple triangle can't account for. Adding cooks to a single triangle is a recipe for tripping over each other. The concept used to solve these problems in design is that of work centers or zones. A work center groups everything needed to do a specific type of task into a single area. The three major ones are:

Food Prep Center
Near fridge, near sink (may have its own sink separate from the main cleanup sink), near trash and compost containers: needs counter space, knife storage, cutting boards, measuring and mixing utensils, small appliances such as food processor or blender, casseroles and baking dishes, flavorings, cookbook storage, graters.

Cooking Center
Range (stove) or cooktop and ventilation: oven may be located separately if it's not part of a range (possibly near the baking zone). If you cook using your microwave, you might include it in this zone (possibly mounted over the range), but if you mainly use it for heating up snacks it could be better located outside the main work triangle where non-cooks can access it without getting in the way. Close to the food prep center so that food can go directly from prep to cooking. If you do a lot of cooking involving large pots of water (pasta for 12, canning, etc) a faucet nearby can be very useful. Small cooking appliances like the toaster, toaster oven, convection oven, deep fryer etc might be located here or in a separate snack center. Storage for frypans, possibly saucepans, pot lids, cooking utensils, salt, pepper and spices (away from heat), oils, vinegars and other flavorings, oven mitts and gloves, fire extinguisher.

Cleanup Center
Main sink, dishwasher, garbage disposal, trash and compost bins, recycling bins, waste compactor; storage for cleaning materials, dishtowels, food storage containers and materials, paper towels, garbage bags, colanders and strainers, possibly everyday dishes and flatware (near dishwasher), possibly saucepans (near water source).