Real Estate Information Archive

If you are one of the 93% of Americans making their house payments on time, you may not think the foreclosures of the other 7% will affect you.  Unfortunately foreclosures affect everyone.  When comparing January 2008 to January 2009, foreclosures were up by 57%.  That’s a large number and foreclosures are becoming a large problem. 

• When a bank or other entity forecloses on a home and then sells it for below market values just to get rid of it, that affects all homeowners in the area.  It is not uncommon for a bank to lose $60,000 on a $200,000 foreclosure when you add up all of their costs. 
• It is difficult for banks to absorb all of these losses so they become even more conservative with all of their lending, not just home loans. 
• This also creates challenges for the Mat Su Borough because real estate taxes are not being paid, or not being paid on time.  This makes it a challenge for the borough to continue to fund fireman, policeman, schools and basic services like snow removal. 
• There have been several studies that link an increase in crime to neighborhoods where there are more foreclosures and vacant homes.

No one wins through foreclosure.  Families are stressed through the process, local governments struggle to keep up with services and other home owners values are affected.  The more we can do to help folks avoid foreclosure the better.  If you know of someone that is behind on their payments and doesn’t know what to do, have them contact me or review this information on line to see options they may not know about. 

Improving and maintaining good indoor air quality is key in asthma management and limiting the presence of irritants in the air in your home. Below are a few steps you can take to improve air quality in your home as found in the article Creating an Asthma-Safe Home by KidsHealth.

Improving Air Quality

• Don’t allow smoking in your home. Quit or smoke outside.
• Use unscented or non-aerosol varieties of household cleaning products.
• Verify that all your gas appliances are properly vented outside.
• Run air conditioning when pollen or mold counts are high or when there are ozone or pollution warnings.
• Change air conditioning filter regularly.
• Reducing the Presence of Dust Mites
• Vacuum and dust regularly.
• Avoid the use of feather or down pillows or comforters.
• Wash your children’s bedding in hot water and also dry it on a high setting.
• Cover mattresses, pillows and box springs with mite-proof covers. Regularly wipe down covers.
• Remove carpeting in your child’s room.
• Window coverings in your child’s room should be easily washed or cleaned. Horizontal blinds are not recommended as they accumulate dust on their multiple surfaces.
• Store children’s books in a room other than his or her bedroom
• Keep stuffed animals to a minimum. Favorite plush toys should be washed and dried regularly on the hot settings. Placing plush toys in a plastic bag in the freezer for a minimum of 5 hours will also kill any dust mites present.
• Avoid using a humidifier particularly in your child’s room.

Reducing Moisture and Mold

• Fix leaky pipes, faucets, or roofs. Clean and repair roof gutters regularly.
• Make sure your bathrooms and basement are well ventilated. Install and use exhaust fans to help lower moisture in these areas.
• If you have any damp closets, clean them thoroughly and leave a 100-watt bulb on all the time to increase the temperature and dry out the air.
• Run a dehumidifier in the basement or other damp areas. It's important to empty and clean the water pan often.
• Remove wallpaper and wall-to-wall carpeting from bathrooms and basement rooms.
• Run the air conditioning (this is especially helpful if you have central air), making sure to change the filter monthly.
• Avoid houseplants, which may harbor mold in their soil.
• Clean any visible mold or mildew with a solution that's one part chlorine bleach to 10 parts water. Don't paint or caulk over moldy surfaces without cleaning them first.
• When painting bathrooms or other damp areas of your house, use anti-mildew paint.
• If there's visible mold on ceiling tiles, remove and replace them. Also check to see if there's a leaky pipe that may be causing the problem.
• Replace or wash moldy shower curtains.

Pets in the Home

• Keep pets outside. If you can't, at least keep them out of your child's bedroom and playroom.
• Wash and brush your pet every week.
• Make sure your child doesn't play with or touch your pet and keep him or her away from the litter box if you have a cat.
• Wash your hands every time you touch your pet.
• If you have a pet that lives in a cage, keep it in a room that your child doesn't spend time in regularly. Also, have someone other than your child clean the cage daily.

For more detail information and tips how to create an asthma-safe home visit the KidsHealth website and talk with your child’s doctor about their specific triggers.

Many of us have allergies, and children with asthma, and we want to ensure family members live and play in surroundings that won’t aggravate this chronic disease, and this starts at home. When it comes to children, we want to keep them as safe as possible; however the reality is we have little control over conditions outside of our own homes. By beginning with your own home you can implement a few no-cost or low-cost lifestyle changes that will help turn your house into an asthma safe home, for family members suffering from this condition.

Identifying the Triggers Allergens
If you are unsure what triggers are specific to your child, or children, with asthma, please consult your physician, as they will be able to help identify these triggers and advise you in this regard. Some of the more common triggers, allergens, found in our homes include:

Preparing Your Home for Spring Selling?

Spring has probably come faster than you expected, meaning you are supposed to have your house ready to be sold in just a few weeks, or even days. Well, fear not.  Preparing your home for walkthroughs and selling does not have to be consuming or stressful. The following will help clean and make repairs to your home in a systematic fashion so that your life does not have yet another wrench thrown in the wheel.

 Step One: Exterior. To begin, start by getting organized. Grab a pad of paper and pen. Then, take a stroll around your house.  Make notes about anything that’s not perfect. Take your time because you are probably accustomed to the imperfections of your home since you’ve walked by them so many times. Perhaps you should take a friend or neighbor with you. Remember, this process shouldn’t take that long, as you are not fixing the issues right now, but simply identifying them. Are the stepping-stones broken? Are there any gutters that need to be repositioned or cleaned out? Do the bushes need trimmed? Does the house need power-washed or painted? Think of a few flowers that would brighten up your home for the spring.

 Step Two: Interior. You are going to do the same thing with the interior of your house as you did with the exterior.  Walk through each room slowly. Ask yourself a few questions. Are the walls dirty? Does the ceiling need a fresh coat or paint? Are the majority of people going to feel comfortable in this room? If not, what needs to change? Is there simply too much in the room? Decide what can be stored until you move into your new home (furniture, clothing, artwork, pictures, shoes, books). Are the doors of each room aligned and in decent shape? How about the carpets? Have any animals destroyed the area rugs? Does water leak anywhere – faucets, pipes, shower head?

 Step Three: Organize and Schedule. Now, sit down and start making a new list. Figure out the repairs that you can afford and make list of things you need.  Do you need any new door handles? A few gallons of paint, a few brushes, and a roller? Try to get the larger repairs like plumbing and heating problems fixed before the Comparative Marketing Analysis to give the house a higher suggested listing price. Decide which contractors need to be called and set a date for repair. Then, realistically schedule when you are going to take the time to do the repairs. Choose anywhere from one to five a day, depending on the severity of the job. Do not overload yourself, but do not waste time. Try to schedule a few make up days, as unexpected events always occur and push you behind schedule.
 
 Step Four: Clean. You can also start spring-cleaning your home at this time as well. Buyers actually react more negatively toward dirt than clutter. They assume that if you have let the cleaning go, that you’ve also neglected larger maintenance issues. So, do not just give a quick wipe down, thoroughly clean your home. Maybe you should hire a professional to give your home the jump-start it needs to be maintained easily. But, take this step seriously.

 Step Five: Clear Horizontal Surfaces. Every horizontal surface such as windowsills, tables, night stands, dressers, coffee tables, counter tops, desktops, and sinks should be totally cleared off and thoroughly cleaned. Why? The less stuff you have around, the larger your rooms look, making the room open, inviting, and deceivingly larger. Once everything is removed, you can go back and add a decorative touch to random surfaces – but no more than one or two things. Fight the urge to put back picture frames and unnecessary candles. In the kitchen, try to keep only one or two things on the counters, such as the microwave and coffeemaker. Train yourself not to drop your belongings around the house, but rather put them away immediately.

 Step Six: Buy a clutter collector. These large, flat, and plastic containers can be purchased at any hardware store. When you are told last minute that someone is on their way to see the house, you simply run around the house and throw anything out of place in this box – the mail, the kids homework, book bags, brief cases, socks, shoes, jackets, etc.  You can then simply slide the box under a bed to show off your house.

 Step Seven: Focal Points. Once your home has been cleaned, repaired, uncluttered, take another walk around the interior of your home. Decide what the best feature of each room is. If the bedroom has a walk-in closet, make sure that the doors are open for them to explore this luxury. If the living room has a nice view, make sure the windows are clean and are decorated in a way that attracts people’s attention. If the kitchen has a special set-up or feature, make sure that people will somehow be able to see that feature without hearing a sales pitch. If a room doesn’t have a focal point, try to create one. For bedrooms, try coordinating the comforter, area rug, and curtains. In the bathroom, invest in a few new towels and soap dispenser. If you have a fireplace, try to make that focal point, as most people enjoy that asset.

 Well, you now have a lot to do. Good luck. Try to follow the laid-out steps if possible because they are prioritized for you.

How to price your home in today's Tulsa real estate market  will be one of the most important issues you will face.  Pricing will determine, among other things:

•    How quickly your home sells
•    How attractive your home will be to buyers
•    How you will reach your financial goals regarding the transactions

Unless there are extenuating circumstances, such as your property’s being located in a high-risk, undesirable or unusual area, the listing price of your home will set the tone for your entire transaction.

That’s why my expertise and knowledge of your local marketplace is so helpful. I will gather statistics that quantify the prices of comparable homes in your neighborhood:

•    That have sold
•    That have not sold
•    That are pending
•    That currently are on the market

I will compare aspects of those homes against the unique features of yours. I will also analyze market conditions, the availability of mortgage funds, neighborhood reputation and characteristics, among other considerations, to create a Comparative Market Analysis (CMA).

The CMA provides objective information that will enable us to make an educated, informed pricing decision designed to yield a speedy sale for the most advantageous price possible.
Philosophically speaking, put yourself in a potential buyer’s shoes when considering pricing. Buyers’ main considerations will be location, age of property, its condition and style and of course, price. Thinking objectively about these matters will help you and me determine a price based on fair market value -- what your house is worth in the current market, not the amount you or your buyers would like it to be.

Other key aspects to consider include the following:

How soon do I want to sell my property?
Statistics show the narrower the gap between the asking price and my estimate of value, the sooner an offer will come in.

How does my home compare to others in the area?
As a real estate professional, I have access to details about current listed and sold properties through the Multiple Listing Service. You will be able to see how much competition there is and what effect market conditions have had in your area. You can then determine your price by analyzing homes comparable to yours in age, size, condition and location.

What are buyers willing to offer?
Buyers are interested in your home’s comparable worth, not what you might need to get out of the property. The buyer’s perception of the value of your home will not be altered by the cost of your next home, your need to pay off an existing mortgage, or your hope for a dollar-for-dollar return on home improvements. Remember that sellers and Realtors© are not appraisers...buyers are. In the end, it is the buyer's evaluation that matters. Buyers make their assessments by comparing your property with others that offer similar features and are in a similar condition to yours.

Is there any harm in overpricing property, then dropping the price if it doesn’t sell?
Yes. To effectively price your home, you must establish a solid correlation between the asking price and the fair market value. A realistic asking price will result in a fast, lucrative sale. If your price is out of sync with the market, you’re likely to turn off a large group of potential buyers. Contrary to popular belief, a buyer usually makes an offer on a fairly priced property before making a lower offer on a listing that is seen as overpriced. Also, overpricing your home often helps sell your neighbor's home faster than yours.

But my house is worth so much more...

Emotion and pride should have no place in the pricing process. Sellers speak of value, amount invested and what they can afford "to take." Buyers consider only price, condition and other properties offered.

Should I leave room for negotiating?
Experience has shown that the closer your listing price is to the supporting comparable sales data, the greater your chances for a quick sale at or near your asking price. As a result, we recommend pricing as close to that figure as possible. If you list your home at an unreasonably high price and receive a full-priced offer, the price will be tested during the appraisal and lending process. As a result, it’s important to price your property at something statistics and the experience of the local brokers can justify. In fact, agents will miss showing your property to potentially qualified buyers simply because, at face value, your property is out of their clients' price range.

Tulsa has been ranked the top place to live in the country out of 100 cities and towns, according to a list from Relocate-America.

Tulsa rose from fifth place last year to the ranking's top spot.

Oklahoma City ranked No. 10, and Jenks also made the list. Cities outside the top 10 were listed alphabetically by state on the firm's Web site.

"This ranking corroborates exactly what the chamber uses to sell the Tulsa region 365 days of the year. We are faring much better during the national recession than many of our peer cities because of our diversified industries, quality of life and cost of living," said Mike Neal, president and CEO of the Tulsa Metro Chamber, in e-mailed comments.

He noted that the Tulsa area is "experiencing resurgence due to investments made by the community in Vision 2025, streets, Four to Fix the County, education and private business."

Tulsa is on the radar screen of site location consultants and existing businesses looking to expand in this market, as well as new college graduates and young talent.

This latest accolade comes just days after Forbes magazine listed Tulsa as one of the best places in the nation to find a job. The metro area ranked No. 2 among midsize cities for the financial magazine's "Best Cities for Job Growth" and ranked 10th among all cities.

Tulsa also has also been identified as the fifth best city in the nation to ride out the recession, according to Forbes.com.

The median price of a home in the Tulsa metro area as of February was $125,000, according to the Greater Tulsa Association of Realtors.

An editorial team at Relocate-America compiled the list based on a review of nominations it received throughout the calendar year and key data regarding education, employment, economy, crime, parks, recreation and housing.

In its description of Tulsa, the organization's Web site notes that the city has "the friendliness and close-knit attitude of a much smaller town."

Tulsa also has low unemployment compared with many areas of the country and an economy that is based on energy, aerospace, manufacturing and other industries, the Web site notes.

Tulsa's energy jobs have helped it remain relatively stable during the economic downtown, and Oklahoma was among six states that in January was "at risk" of a recession but not yet in one.

"The good thing about relocating here is you've got a significant number of amenities and cultural venues," said Bob Ball, the chamber's economic research manager. "That is growing, and yet you're not trapped with the high cost of living of a large metropolitan area."

He noted that the cost of doing business in the Tulsa metropolitan area is nearly 14 percent below the U.S. average, and its cost of living is 11 percent below the U.S. average.

Top places to live

1. Tulsa

2. Dallas-Fort Worth

3. Pittsburgh

4. Raleigh-Durham, N.C.

5. Huntsville, Ala.

6. Houston

7. Albuquerque, N.M.

8. Lexington, Ky.

9. Little Rock

10. Oklahoma City

Why is it that some homes sit on the market for a year while others sell like hot cakes?

Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price.

If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and “shows” better than the competition, it will have a better chance of being sold quickly.

The secret is perfecting a technique that’s as American as apple pie: comparative shopping.
Although comparing houses with different styles, square-footages and locations is challenging, real estate professionals still feel it’s one of the best methods to use when determining a home’s market value.

A responsible real estate agent will effectively evaluate a home’s worth through a process known as Comparative Market Analysis (CMA). Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called “comparables,” that have sold in the area within the last six months. Typically, it is a realistic price range that will ensure you top dollar and a reasonably quick sale.

However, factors such as the amount of time needed to sell your home can affect the agent's price recommendation dramatically.

I can determine the typical duration that listings are on the market and can explain that the marketing “norms” vary with prices and properties. Based on this criteria, we will be able to sell your house for a price that both you and the buyer will be happy with. However, if you’re under time constraints because of unexpected job changes or moving agreements you’ve made on another property, this will narrow your chances of selling the home for top dollar in the market.
Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property.

The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months. Any longer, and other factors, such as the economy, could cloud your view of how much your home is really worth.

Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes. Most MLS services provide information on deals pending that most real estate agents should be able to share with you.

A good rule of thumb before setting a price is to make 20 comparisons of comparable properties within a one-mile radius of your house. Once completed you can feel comfortable that the price you’ve picked is a good gauge of the home’s worth and won’t discourage qualified buyers.

Being open and honest about what you see as the home’s greatest strengths and biggest weaknesses will also help your agent get a better feel for how to best evaluate (or assess) and market your home. Think of your home as if you were the buyer. If your home is listed at the right price, you’re well on your way to a speedy and fruitful sale.

Today's home buyer has the opportunity to invest in their future by taking advantage of the 2009 Tax Credit for first-time home buyers.  What a great opportunity to invest in your future and build financial security for you and your family. 

Whether you are interested in buying a pre-owned home or begin the adventure in building your first home now is the time to take advantage of the $8,000 tax credit.  And, remember this $8,000 tax credit does not require repayment.  But time is running out.  You must take advantage of this tax credit prior to December 1, 2009.

Let's us answer your questions and help you determine the best option for you.

We find that many families use a change of residence as an opportunity to dispose of many outgrown and no-longer-wanted items. It beats taking the items with you and can even put several hundred dollars in your pocket toward buying furnishings for your new home. 

As Realtors®, we are expected to be wise in all matters relating to a change of residence. Even though garage sales are far from our primary field of expertise, allow us to pass on the best advice we have picked up over the years.

Planning

Allow plenty of time – three to four weeks – to prepare. Choose a date that will not conflict with holidays or other events that might lure prospective customers away. More people are likely to show up on weekends than weekdays. Your sale is likely to attract more customers if you join together with neighbors in a larger effort with more merchandise – some homeowner groups sponsor neighborhood sales that are proving popular.

What to Sell
Practical household goods, bicycles, children’s toys and clothes, sports equipment and garden tools are popular. Adult clothing has less appeal – price accordingly. All items should be clean, polished and in good repair.

Display

Merchandise your items attractively in neat, clean surroundings. Paper tablecloths offer a pretty setting for glass and ornamental items. Cluster things in categories. Place more desirable items toward the back so browsers can notice other merchandise on their way to the most popular items. Have a 25-cent miscellaneous table for young shoppers. Clothes should be sized accurately and hung on a temporary rack.

Logistics

Locate your appliance table near an outlet so customers may try before they buy. Set aside adequate parking and a place to load large items. Have plenty of bags and boxes on hand for packing and newspapers for wrapping glass items. Ideally, a place for trying on clothing should be provided.

Promotion

Place a classified ad in the local papers – include three or four of the more tantalizing items for sale, directions and other pertinent details (you may or may not want to include your phone number). Take advantage of free publicity provided by bulletin boards in grocery stores and other public places. Provide directional signs to your property using an indelible pen. If your house is listed for sale, have your Realtor® hold an open house on the same day, thus increasing traffic for both the house and the sale.

Pricing

Visit other sales to get an idea on how to price things. Remember that garage sale shoppers are looking for deals, so be prepared to bargain and lower your prices. Really valuable items such as antiques should not be sold at a garage sale; they are not likely to bring the desired price from bargain hunters. Nothing is too worthless to be valuable to someone, so have a giveaway box for old magazines and other assorted odds and ends.

Staging

Post a notice that all sales are final and payment must be in cash. Keep ample change in a cash box in a protected spot. Keep a record of sales, especially when there are several sellers. One recording method that is simple and efficient is to use small adhesive stickers to price items, then transfer the sticker to the name of the seller when the item is sold.

www.tulsafriends.net/davidm/Posts/2896

I have had several clients ask what a Post Tention Slab was and how it is constructed.  Explanation and pictures of Post Tension Slabs, click on link below.

Go To>>http://en.wikipedia.org/wiki/Prestressed_concrete