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.

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.

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.

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/

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.

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).

   

   

   

   

MOST EXPENSIVE HOME FOR SALE IN TULSA COUNTY

Just for fun I researched the most expensive home currently listed in Tulsa County. If you judge by price per square foot this property is listed at $517.00/sq ft! Six bedrooms, seven full baths, three half baths, yet only a 2-car garage (interesting) on a gorgeous three and a half acres +/-. It's the most expensive by square foot and by the price of $9 million!  If you'd like to take a look at the virtual tour click here.

No matter what price range you're house-hunting...give us a call!

WHAT DO YOU WANT IN A REAL ESTATE AGENT?

1. Honesty and Credibility

Win them over with the truth! When Buyers & Sellers talk about honesty and credibility, it often comes with stories about past negative experiences with agents. They have expressed how hard it is to trust anyone in today’s real estate market, so it’s even more important for agents to communicate with honesty, even if less-than-favorable information.

2. Area Familiarity

Do your neighborhood homework! Buyers & Sellers place a high importance on finding an agent who not only sells homes in a specific neighborhood, but also knows that neighborhood well. They want an agent who knows all about the schools, local parks, safety, restaurants and even the secret gems the neighborhood has to offer.

3. Good Follow Through

You say it, you do it! There's frustration with agents who don’t do what they said. Email me, call me and send me the things you say you will. It seems like such a small thing to ask for. Do what you say, combine it with some honesty, and you’ll be an agent buyers feel comfortable working with.

4. Organization

Keep it in order. The average person spends roughly 150 hours per year searching for documents, electronic files, and other information. That’s equivalent to almost a month of work. Some studies put the number even higher—10% of work time. Think of the lost productivity, the aggravation, and the resulting discord. With a few tools and processes, you can reclaim the time you would have otherwise lost to disorganization. 

5. Good Listener

Everyone is unique. Treat them like it! Buyers & Sellers want an agent to listen to them with a blank mind. Phrases such as “pigeon hole”, “judge”, “they aren’t listening”, “tell me what I want”…etc. are common with Buyers & Sellers that feel they are not being understood. They don’t want an agent to assume they need A just because they hear B. They want an agent who listens to what they want and will ask as many questions as required to really understand who they are and what they are looking for.

Mike & I would be happy to provide you with references from Buyers & Sellers that we have successfully helped attain their real estate goals.

HAPPY BIRTHDAY AMERICA!

Independence Day honors the birthday of the United States of America and the adoption of the Declaration of Independence on July 4, 1776. It's a day of picnics and patriotic parades, a night of concerts and fireworks, and a reason to fly the American flag.

"Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same." ~ Ronald Reagan

I pledge allegiance to the flag of the United States of America, and to the Republic for which it stands. One nation under God, indivisible, with liberty and justice for all.

SMALL IMPROVEMENTS THAT SELL

Simple Improvements Can Go A Long Way Towards

Selling Your Home

With very little effort, you can transform an average house into an above-average property that is sure to get second looks from buyers. Follow these guidelines to make sure your property stands out above the rest:

Paint inside and out:

Fresh paint is the most cost-effective and profitable improvement you can make, even if your home doesn't need a new coat. Paint the interior walls a neutral color and the ceilings white to make rooms look bigger.

New lights:

Replace outdated fixtures. This inexpensive improvement can update old decor that might have discouraged buyers.

New flooring:

Install new carpet, linoleum, or tile, and refurbish hardwood floors if needed. Choose a neutral color for new carpeting. New flooring will increase the market value of your home, while shabby floors can kill a sale.

Planted landscape:

Attractive front and back yards boost the value of any property. Mow the lawn, trim shrubs, and plant new bedding flowers. Clean up perennial beds. Plant some trees if the yard is barren, especially in the front parkway. Sweep the patio or deck and decorate with potted plants and flowers.

Completed repairs:

Before listing your home for sale, make all minor repairs and catch up on maintenance. If you've deferred maintenance, get a professional home inspection. If the inspection reveals problems, make the repairs before listing the home. If you don't, the buyer will probably discount the offer price for more than the cost of repairs or replacement.

A clean garage:

If you use your garage for storage, clean it out and rent a storage space. Paint the interior white. If your garage is unfinished, install wallboard or build storage shelves on the back wall. A clean garage will help solidify a buyer's impression of a home in move-in condition.

(MSN.com article.)

HOW'S REAL ESTATE?

Mike & I are asked this question almost daily. Most of the national media that we hear has everyone a little nervous about the value of their homes. The good news is that Tulsa's real estate market has fared this recession fairly well. Especially if you consider the hard hit areas of California, Florida, Nevada, and Arizona.

Ten years ago a Tulsa area home owner could typically count on 3% appreciate per year on their home value and that's not been the case for about the last 5 years. In those years, we've seen some years of 0% appreciate to a slight negative in some areas and price ranges. There have also been some lucky areas that have had slight increases. Everyone's situation is unique, in that, it depends on how good of a deal you got when you purchased your home; what improvements have you made (and at what cost); how the neighborhood is selling; and do the properties on your street help or hurt you. It's always good advice to be the smaller or less valued home in an area with larger and more expensive homes around you. That gives you a better opportunity to appreciate in value.

I will add that it is still a Buyer's Market due to there being so much competition on the market and the low interest rates. But there are Buyer's in the market...that's the good news!  Sellers have to put their best foot forward, be priced competitively, and obviously use an experienced realtor! (I have the number of a good one!)

Feel free to call Mike or I if you have questions about buying or selling a home. We frequently meet with homeowners and provide a Market Analysis of their area and at no cost.

Tina 918-740-1000                               Mike 918-645-9669

2011 REAL TRENDS GATHERING OF EAGLES

Sheryl Chinowth, CEO/Broker Owner Chinowth & Cohen Realtors, was recently a guest speaker at the exclusive 2011 REAL Trends Gathering of Eagles conference. The conference is held annually and this year's event attracted over 200 principals and CEOs from the nation’s 500 largest residential real estate brokerage firms plus senior management of the nation’s largest real estate franchise organizations.

Chinowth participated in the Billionaires meeting discussing how she managed significant growth in the tough markets of 2007-2010. Consistently Chinowth & Cohen Realtors experiences yearly increases in size and sales volume since opening in 2004. The company was recently named 70th in size in the nation for Independent Real Estate Brokerages by Real Trends in 2010. “Our company’s growth through the challenging real estate market has been a result of carefully selecting and working with the most elite Realtors. We strive to educate and motivate our Realtors to be the best they can be, “said Sheryl Chinowth, CEO of Chinowth & Cohen Realtors. “Sharing our company’s vision and strategies to a group of established industry leaders was an honor. I wanted to impart to the audience the hard work and spirit our Associates bring to work every day in order to grow their business and contribute to the success of Chinowth & Cohen Realtors.

“While there are new challenges that appear each year, among the largest issues facing leaders throughout the real estate industry is where to keep the focus. This year’s conference was focused on understanding more of the basics of the business than in years’ past; business models, new incremental revenue opportunities and the reality that housing consumers need professional assistance more than ever. Leaders need to stay focused on how to reach out and touch more customers with more assistance. The 2011 Gathering of Eagles will go down as the year that housing started to turn the corner and those in attendance were able to see where to focus their efforts to take advantage of the market,” said Steve Murray, editor of REAL Trends.

Chinowth & Cohen Realtors is a full service real estate company specializing in residential and commercial real estate. Founded in 2004, by Sheryl Chinowth and Lee Cohen, the firm has over 350 Associates in six offices. The offices are located in Bartlesville, Broken Arrow, South Tulsa, Midtown Tulsa, Sand Springs and Owasso.

Mike & I are proud to say we're been with the company since it was founded in 2004 and count Lee & Sheryl as dear friends. It's been quite a ride to watch the company grow from a group of 18 to over 350 associates!

BIXBY'S GREEN CORN FESTIVAL

Green Corn Festival

June 23-25, 2011

Charley Young Park in Downtown Bixby

The Green Corn Festival is a kick back to the good old fashioned family oriented picnics. The annual festival (held on the 4th Thursday, Friday and Saturday of June) features great music, arts and crafts, food, bingo, carnival and great games and contests for the young and young at heart. A talent show to highlight area youth is held on Friday at the Community Center and the annual Green Corn Parade entertains the masses on Saturday morning.

The Festival is held in downtown Bixby, south and east of 151st and Memorial. Charley Young Park is the site of the Gazebo stage, and games, surrounded by food and crafts booths. Just a hop and skip over is the Youth Stage and Carnival. Cool off during the heat of the day by joining in a few rounds of bingo in the building at the corner of Charley Young Park.

What could be more traditional than an afternoon or evening in the bright summer sun, with lemonade to sip, an array of crafts and gifts to purchase, music to enjoy listening to, with your friends all around? Only a ride on the ferris wheel as the sun sets and the sounds of carnival music drift up in the evening air…

(Information From Bixby Optimist website)

HOW TO IMPROVE CURB APPEAL

Home Selling Advice to Help You Attract Potential Buyers

A large percentage of home buyers decide whether or not to look inside a house or take it seriously based on its curb appeal—the view they see when they drive by or arrive for a showing. You can help make sure they want to come inside your house by spending some time working on the its exterior appearance.

It's difficult to look at our own house in the same way that potential home buyers do, because when we become accustomed to the way something looks and functions, we can't see its faults. Decide right now to stop thinking of the property as a home. It's a house—a commodity you want to sell for the highest dollar possible.

Curb Appeal Exercise:

The next time you come home, stop across the street or far enough down the driveway to get a good view of the house and its surroundings.

1.What is your first impression of the house and yard area?

2.What are the best exterior features of the house or lot? How can you enhance them?

3.What are the worst exterior features of the house or lot? How can you minimize or improve them?

Park where a potential buyer would and walk towards the house, looking around you as if it were your first visit. Is the approach clean and tidy? What could you do to make it more attractive?

Take photos of the home's exterior. If you have a digital camera, view the color versions first, then remove the color and look at it in black and white, because it's easier to see problems when color isn't around to affect our senses.

Make a list of the problem areas you discovered. Tackle clean up and repair chores first, then put some time into projects that make the grounds more attractive.

FIXED MORTGAGE RATES HIT NEW LOWS FOR 2011

NEW YORK (AP) - Fixed mortgage rates fell this week to the lowest point of the year, offering incentive for homeowners to save money by refinancing their loans. Freddie Mac said Thursday that the average rate on the 30-year loan fell to 4.61 percent. That's down from 4.63 percent and the lowest level since mid-December.  The average rate on the 15-year fixed mortgage, a popular refinance option, slipped to 3.80 percent from 3.82 percent. That marked the lowest point since late November.

Low rates haven't been enough to jumpstart the weak housing market. Fewer people bought previously occupied homes in April, the National Association of Realtors said Thursday. Sales fell to a seasonally adjusted annual rate of 5.05 million units, far below the 6 million homes a year that economists consider a healthy market.

However, the number of borrowers looking to refinance is now at the highest level since the second week of December, according to the Mortgage Bankers Association. Refinance activity has increased 33 percent over the last five weeks, mirroring the steady decline in rates.

MAYFEST May 19-22

Mayfest is an outdoor tribute to the arts and music that is a family-oriented event created to promote a broader knowledge of and appreciation for arts and humanities among serious, as well as casual art lovers. Tulsa International Mayfest, in cooperation with the Arts & Humanities Council of Tulsa, is once again making plans to stage Tulsa's renowned spring festival of the arts. Mayfest 2011 will be May 19-22. Attracting over 350,000 people, Mayfest will feature an array of multi-disciplined arts from dance, music and visual arts. Always one of the major highlights of spring, Mayfest 2010 will be planned to encompass some of the very best in both the exhibit and performance areas. Mayfest offers some of the best local, regional, and national entertainment in Tulsa. Multiple styles of music are represented including Rock & Roll, Classical, Jazz, Pop, Country, and many more. The Creative Culture Courtyard brings together a taste of New York City street performance art with a touch of Venice beach vibes. This year presents Jascha on his recycled drum set, Cherokee Story Teller Robert Lewis, Pow Wow Dancers, Drum Circle, Body Art, Chalk art, Interactive Dance Performances(tango, salsa and swing) and DJ sets from 9-11pm on Friday and Saturday night. The Creative Courtyard hours are Thursday 7-11pm, Friday 7-11pm and Saturday 1-11pm.

Click for MAYFEST website.

TO RAISE OR NOT TO RAISE?

Water Heaters with Sealed Combustion Chambers

To raise when installed in a garage or not to raise?

Newly Designed Water Heaters Flame Vapor Ignition Resistant Units (FVIR)

To meet the American National Standards Institute’s new standard for gas water heaters, a new water heater has been introduced to the market. The objective is to reduce the potential of fire or explosion from flammable vapors ignited by gas water heaters. When you remove the inspection shield, a device called an arrestor plate is now installed at the combustion chamber. The arrestor plate will allow flammable vapor along with the combustible air to be pulled through and ignited. But the plate keeps the flame from passing back through to the atmosphere. Another safety feature is a temperature sensor that recognizes the event and shuts off the burner as well.

As of April 29, 2011 the majority of the cities in the Tulsa metro are do not require water heaters with sealed combustion chambers to be raised. Should this become an issue on one of your home inspections you should call the city building inspector of the city the home is located in and ask him. Most of the time you will get his voice mail as they normally leave their office around 8:30 am and don't come back until after 4:00 pm. Leave a message and they are very good about returning your call.

Information from Cravens Home Inspection Service newsletter.

MORTGAGE HISTORY LESSON

Chinowth & Cohen's CEO Sheryl Chinowth wrote an wonderful article for the Tulsa World's Viewpoint section about the housing market still needing federal support. 

"The mortgage industry's lax underwriting requirements allowed for less-secure mortgages, and the focus became the up-front profits of selling these pooled mortgages. Through securitization, the loan originators were separated from the risk of the loans they were writing. All of this played a large part in the mortgage banking crisis and led to the takeover of Fannie Mae and Freddie Mac by the Federal Housing Finance Agency, an action that was described by former Treasury Secretary Henry Paulson as "one of the most sweeping interventions in private financial markets in decades. Why is all of this so important? Housing creates jobs. Housing accounts for more than 15 percent of the Gross Domestic Product, or $2 trillion. For every 1,000 home sales this year over last, about 500 new jobs are added to the economy. And jobs are critical to the nation's recovery."

To read the entire article CLICK HERE.

NEW WHITE HAWK LISTING!

Gorgeous Home in White Hawk Golf Community 5/4/4.5 Stunning Views to Outdoor Living!

Exceptional home with character and style featuring 5 bedrooms (2 down including master), has been completely updated, views to charming outdoor living area including stone fireplace, pergola, trickling stream, Koi pond, paver walkways, & exceptional landscaping with outdoor lighting. The home has a 3 car side entry attached garage PLUS a 1 1/2 detached garage/workshop 22x24 with heat, 220 wiring, stairs to 2nd story storage, security, & full brick. All on 1/3 acre +/- with mature trees.



CLICK HERE FOR FULL OBEO TOUR

FINDING A NEW HOME

Most buyers like to start their search for a new home online, before they ever schedule time with a realtor.  The majority of buyers that we work with, whether ready to purchase immediately or sometime in the future, appreciate the automatic MLS search that we set up for them.  It's as easy as telling us area, price, "must haves", and email address.  Once we set the search up, it will email all of the active listings within the preferences you have given us.  Then each night the search will run again and send you any new properties that have come on the market. Buyers love it!! Feel free to email us the information above to ButlerTeam@cctulsa.com and we'll get you going!

If you prefer to navigate the search yourself, go to http://www.tinabutler.com/ and click on Property Search on the left side of the screen and you're in the driver's seat!

An important piece of the buying-puzzle is to contact a lender to begin the pre-approval process.  We've worked with David Ransdell with Capital Mortgage for about 8 years and highly recommend his team. The office number is (918) 481-8810.

Also feel free to give Mike or I a call if you have ANY questions about the home buying process! We love selling homes!

LANDSCAPING TO SELL YOUR HOME

Don't let your yard sabotage your home sale!

Will your landscaping pull in buyers or make them drive on by? Outdated or extreme styles, high-maintenance features and invasive or overgrown foliage can kill interest.

For homemaker Sue Wildrick, it was the koi ponds that killed the deal. While the house she and her husband looked at in Denver last winter had its appeal, its elaborately bricked-in backyard and large network of fish ponds seemed like too much work. "It was a little overwhelming," Wildrick says. And it provided little room for the family to play games or throw a ball to their dog. "We would have probably had to take some of that stuff out."

These days, elaborate patios, outdated or high-maintenance landscaping and invasive plants and trees can kill buyer interest in a home almost as quickly as an outdated kitchen or orange shag carpeting, according to landscaping experts and real-estate agents. Landscaping often makes the difference between a prospective buyer getting out of the car for a closer look at the house and simply driving on by.

Good landscaping can provide more bang for your buck than almost any other home improvement -- provided it's done right. Buyers today expect landscaping that's easy to take care of and water-wise, and offers benefits like shade or privacy.

Here's a look at the top landscaping turnoffs for buyers and what homeowners can do to make sure their landscaping efforts enhance, rather than detract from the value of their home.

1. Your Father's Landscaping - Rounded junipers, squared-off boxwood and holly bushes, and topiary shrubs scream that the house is a throwback to the 1960s and '70s, agents say. People now want their landscaping to look natural, with more native plants and interesting, varied foliage. Big pine trees and other evergreens planted decades ago also can be a turnoff to buyers. These trees can get too big and must be continually hacked off at the top (a bad look) or taken out entirely to avoid roofs and power lines.

2. Gnomes Gone Wild - It should go without saying, but put the lawn ornaments away. Other buyers may not share your love of lawn globes, gnomes and plastic deer.

3. High-Maintenance Yards - While many buyers fancy themselves green-thumb gardeners, few want to invest serious time in pruning, spraying, mowing and fertilizing. Beds of non-disease-resistant plants such as hybrid tea roses can eat up a buyer's weekends with pruning and applying fungicide. An agent in St. Louis, remembers one property he showed with an elaborate English country garden that dominated the backyard. A key inside the house mapped out the names of all of the manicured shrubs, roses and gardenias, as well as the contents of the adjoining vegetable garden. "People were just mesmerized," Rhoads says. "For a minute they would say 'I've always wanted a place like this.' Then they started talking about it and said this must take a long time to maintain every week." The house stayed on the market for quite a while specifically because of the rigors of its landscaping.

4. Over-The-Top Outdoor Living Spaces - The line between the indoors and outdoors has been blurring in recent years, with more homeowners building elaborate outdoor living spaces complete with fireplaces, kitchens, outdoor showers and custom stone work. In many parts of the country, these areas are a big selling point, making the house seem larger. But when the work gets too ornate or extensive, it can sometimes detract from the value of a home -- especially in colder climates. Homeowners who put in these improvements should not expect to recoup their total investment at resale. One man's $80,000 outdoor kitchen may only be worth an extra $30,000 to another.

5. Bad Seeds - Some plants send up a red flag with many knowledgeable buyers because they are so invasive. High on the list are ficus trees, especially those planted too close to a driveway, house or patio. The fast-growing, shallow roots of the ficus crack pavement and can wreak havoc on foundations. Similarly, ivy and other vines can proliferate too quickly, posing a danger to other plants, as well as to windows and roofs. They also can attract bugs to the house.

6. Too Much Green? - Many people are asking for smaller expanses of grass so they spend less time pushing the lawn mower and running the sprinkler.  By sorting plants according to water need you waste less water and homeowners can spend less time wielding the hose. But, he notes, that doesn't mean buyers are ready to give up color.

Maintain whatever landscaping you have. Overgrown hedges, dying flowers and leggy bushes send the message that the inside of the house is ill-kept, as well. Maintenance is key to maintaining your value.

By Melinda Fulmer of MSN Real Estate

TERMITES - Don't Ignore The Signs

Termites cause billions of dollars in damage each year. They primarily feed on wood, but also damage paper, books, insulation, and drywall. While buildings may become infested at any time, termites are of particular importance when buying or selling a home since a termite inspection/infestation report is normally a condition of sale. Besides the monetary impact, thousands of winged termites emerging inside one's home are an emotionally trying experience — not to mention the thought of termites silently feasting on one's largest investment. Termites are found in every state in the US. Hawaii has the highest concentration of infestation and Georgia tops the list in the continental US. It has been said that there are two types of homes in the US "Those with termites and those that will have them." and "It's not if you have termites, it's when you'll have termites."

Why are infestations often discovered during March - May? Spring typically is when large numbers of winged termites, known as "swarmers," emerge inside homes. In nature, termites swarm to disperse and start new colonies. Triggered by warmer temperatures and rainfall, the winged termites emerge from the colony and fly into the air. The swarmers then drop to the ground, shed their wings, pair off with a mate, and attempt to begin new colonies in the soil. Few swarmers emerging outdoors survive to start new colonies. Swarmers emerging indoors are incapable of eating wood, seldom survive, and are best removed with a vacuum. They do, however, indicate that an infestation is present.

Other signs of infestation are earthen (mud) tubes (shown right) extending over foundation walls, support piers, sill plates, floor joists, etc. The mud tubes are typically about the diameter of a pencil, but sometimes can be thicker. Termites construct these tubes for shelter as they travel between their underground colonies and the structure. To help determine if an infestation is active, the tubes may be broken open and checked for the presence of small, creamy-white worker termites. If a tube happens to be vacant, it does not necessarily mean that the infestation is inactive; termites often abandon sections of tube while foraging elsewhere in the structure.

Termite-damaged wood is usually hollowed out along the grain, with bits of dried mud or soil lining the feeding galleries. Wood damaged by moisture or other types of insects (e.g., carpenter ants) will not have this appearance. Occasionally termites bore tiny holes through plaster or drywall, accompanied by bits of soil around the margin. Rippled or sunken traces behind wall coverings can also be indicative of termites tunneling underneath.

Oftentimes there will be no visible indication that the home is infested. Termites are cryptic creatures and infestations can go undetected for years, hidden behind walls, floor coverings, insulation, and other obstructions. Termite feeding and damage can even progress undetected in wood that is exposed because the outer surface is usually left intact.

Ridding a home of termites requires special skills. A knowledge of building construction is needed to identify the critical areas where termites are likely to enter. Many of these potential points of entry are hidden and difficult to access. Termite control also utilizes specialized equipment such as masonry drills, pumps, large-capacity tanks, and soil treatment rods. A typical treatment may involve hundreds of gallons of a liquid pesticide injected into the ground alongside the foundation, beneath concrete slabs, and within foundation walls. Termite treatment is a job for professionals.

HOMESTEAD EXEMPTION DUE MARCH 15th

Homestead Exemption is an exemption of $1,000 of the assessed valuation. This can be a savings of $75 to $125 depending on which area of the county you are located . You must be the homeowner who resides in the property on January 1. The deed must be executed on or before January 1 and filed with the County Clerks Office on or before February 1. You must be a resident of Oklahoma.  If you have been granted a homestead exemption and continue to occupy the homestead property you shall not be required to re-apply for homestead exemption. You may apply for Homestead Exemption with the Oklahoma City County Assessors Office. Their office is located at 320 Robert S. Kerr, Rm 315, Oklahoma City, OK 73102. Applications for homestead exemption are now available for downloading. Application is due March 15th to qualify for the exemption in the current year.

TULSA EMPLOYMENT

The second-quarter employment outlook for the Tulsa metro area is tied for second best in the nation, according to results of the Manpower Employment Outlook Survey.

Of those companies interviewed, 22 percent said they plan to hire more employees, while 2 percent expect to cut staff. Another 73 percent expect to maintain their current staff levels, and 3 percent are unsure of their hiring plans.  That report for the April-to-June period is even more upbeat than the first quarter, when the Tulsa area's hiring outlook was tied for fourth best in the nation.  For the rest of the March 8, 2011 Tulsa World story read here.

DAYLIGHT SAVINGS TIME IS HERE

THIS SUNDAY ~ MARCH 13th

SPRING FORWARD

Read about the history of Daylight Savings Time.

World Clock for current local times around the world.

A MUST READ FOR SELLERS (A little long but worth it!)

6 THINGS THAT TURN HOME BUYERS OFF

(and what Sellers can do to prevent it!)

Here are 6 big-time homebuyer turn-offs that make buyers cringe at the thought of your home, and action steps you can take to prevent your home from being an offender. (Article from Truila.)

1. Stalker-ish sellers. I know you think you’re being helpful, walking the buyer through your home and pointing out the wagon-wheel light fixture you made with your own two hands, the custom mural of a stingray you paid top dollar to have painted across your living room wall and the way the sounds of happy schoolchildren running across the front yard of your corner lot to get to the school in the next block lifts your spirits. However, the buyers might be trying really hard to ignore, minimize or figure out how to undo the very features of your home you hold dear. They also may want or need to have personal space and conversations with their mate or their agent while they’re viewing your home - you being there, especially walking right alongside them while they’re in your home, prevents them from being comfortable about doing this, or discussing all the things they would change if the home were theirs. In my experience, the more nitpicky a buyer gets about a house and the more detailed their list of things they would change, the more serious they are about considering making an offer on this place.

What’s a Seller to do? Back off. Let your home be shown vacant, or leave the house when people come to see it. If you need to be there, at least walk outside or go sit at the coffee shop down the way while prospective buyers view your home. If the buyers have questions, their people will contact your people.

2. Shabby, dirty, crowded and/or smelly houses. You already know this one. Yet, buyers constantly marvel. The buyers who come to see your home are making the decision whether to choose your home for the biggest purchase they’ve ever made during the worst economic conditions most of them have ever experienced. Your job is to get your home noticed – favorably – above the sea of other homes on the market, many of which are priced very, very low.

What’s a Seller to do? Other than listing your home at a competitive price, the only tool within your control for differentiating your home from all the foreclosures and short sales is to show it in tip-top shape. Pre-pack your place up, getting rid of as many of your personal effects as possible. Do not show it without it being completely cleaned up: no laundry or dishes piled up, countertops freshly washed, smelly dogs & litter boxes cleaned and/or out of the house.

3. Irrational seller expectations (i.e., overpricing). Buying a house on today’s market is hard work! On top of all the research and analysis about the market and situating their own lives to be sure they’ll be able to afford the place for 5, 7, 10 years - or longer, buyers have to work overtime to separate the real estate wheat from the chaff, get educated about short sales and foreclosures and often put in many, many offers before they get even a single one accepted. The last thing they want to add to their task lists is trying to argue a seller out of unreasonable expectations or pricing. And, in fact, there are so many other homes on the market, buyers don’t have to do this. When they see a home whose seller is clearly clueless about their home’s value and has priced it sky-high, most often they won’t bother even looking at it. If they love it, they’ll wait for it to sit on the market for awhile, hoping the market will “educate you” into desperation, priming the pump for a later, lowball offer.

What’s a Seller to do? Get real. Get out there and look at the other properties that are for sale in your area and price range. If your home has much less curb appeal or space or is much less upgraded than the house across the way, don’t list it at the same price and expect it to sell. If you owe more than your home is realistically worth, you may need to reexamine whether you really want or need to sell, or consider a short sale, if you simply have to sell. Don’t be tempted into testing your market with an obviously too-high price, unless you’re prepared to have your home lag on the market and get lowball offers.

4. Feeling misled. Here’s the deal. You will never trick someone into buying your home. If the listing pics are photo-edited within an inch of their lives. If your neighborhood is described as funky and vibrant, as code for the fact that your house is under the train tracks and you live in between a wrecking yard and a biker bar, prospects will figure this out. If the detailed information about your home, neighborhood or even transactional position (e.g., short sale status, seller financing, etc.) is misrepresented, the sheer misrepresentation will turn otherwise interested buyers off. If you authorize your agent to “verbally approve” the buyer’s offer, don’t go back the next day demanding an extra $5,000. In cases where the buyer feels misled, whether or not that was your intention, running through the buyer’s mind is this question: If they can’t trust you to be honest about this, how can they trust you to be honest about everything else?

What’s a Seller to do? Buyers rely on sellers to be upfront and honest – so be both. If your home has features or aspects that are often perceived negatively, your home’s listing probably shouldn’t lead with them, but neither should you go out of your way to slant or skew or spin the facts which will be obvious to anyone who visits your home.

5. New yet ugly home improvements. Many a buyer has walked into a house that has clearly been remodeled and upgraded in anticipation of the sale, only to have their heart sink with the further realization that the brand-spanking-new kitchen features a countertop made, not of granite, but brand-new, pink tiles with a kitty cat in the middle of each one. Or the pristine, just-installed floors feature carpet in a creamy shade of blue – the buyer’s least favorite color. New home improvements that run totally counter to a buyer’s aesthetics are a big turn-off, because in today’s era of Conspicuous Frugality, buyers just can’t cotton to ripping out expensive, brand new, perfectly functioning things just on the basis of style – especially since they’ll feel like they paid for these things in the price of the home.

What’s a Seller to do? Check in with a local broker or agent before you make a big investment in a pre-sale remodel. They can give you a reality check about the likely return on your investment, and help you prioritize about which projects to do (or not). Instead of spending $40,000 on a new, less-than-attractive kitchen, they might encourage you to update appliances, have the cabinets painted and spend a few grand on your curb appeal. Many times, they will also help you do the work of selecting neutral finishes that will work for the largest possible range of buyer tastes.

6. Crazy listing photos (or no photos at all). We’ve seen listing photos that have dumpsters parked in front of the house, piles of laundry all over the hardwood floors touted in the listing description, and once, even the family dog doing his or her business in the lovely green front yard. Listing pictures that have put your home in anything but its best, accurate light are a very quick way to ensure that you turn off a huge number of buyers from even coming to see your house! The only bigger buyer turn-off than these bizarre listing pics are listings that have no photos at all; most buyers on today’s market see a listing with no pictures and click right on past it, without giving the place a second glance.

What’s a Seller to do? Check your home’s listing on-line and make sure that the pics represent your home well. If not, ask your agent to grab some new shots (and say pretty please, pretty please!).

30-YEAR RATES BACK BELOW 5%

Mortgage rates were on the decline this week, a welcome sign for potential home buyers or those looking to refinance. The 30-year fixed rate mortgage averaged 4.95 percent this week, down from 5 percent the week prior, according to Freddie Mac’s weekly mortgage market survey. Last year at this time, 30-year rates averaged 5.05 percent.  The 15-year, fixed-rate mortgage also dropped for the week, averaging 4.22 percent, down from last week’s 4.27 percent. The 5-year adjustable-rate mortgage dropped slightly to 3.8 percent, compared to 3.87 percent the previous week.

“Low mortgage rates and home prices are sustaining affordability in the housing market,” says Frank Nothaft, Freddie Mac’s chief economist. The National Association of REALTORS® reported earlier this week that existing home sales rose for the third consecutive month in January and were at the strongest pace in eight months.
Source: “30-Year Fixed-Rate Mortgage Eases Just Below 5 Percent,” Freddie Mac (Feb. 24, 2011)

KITCHEN TRENDS

American Home Shield warranty company just published a Top 10 New Kitchen Trends popular in 2010. (Click picture to see article.)  I am definitely starting to see the trend going toward contemporary design.  Personally I've never loved it...but it's growing on me!

"SOMEONE" NEEDS TO STEP IT UP ON THE BLOG!

It's hard to believe it's been October since I've put anything on our blog! I am going to do my best to do better!!!  I started this blog to provide helpful information on a wide range of real estate topics and want to continue with that process.

We are asked on a daily basis "How is real estate?" Our answer "It's good...not great...but good!"  Many parts of the country are so much worse than we are in Oklahoma. We did not benefit from huge appreciations over the past several years, so our correction has been much less severe.

Give us a call if you're considering selling a home or purchasing one this year and we can give you some good information to help you make the decision. We work with a fantastic lender, if you need a referral.