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Tulsa Real Estate For Sale and Information Updates

Tulsa Real Estate For Sale and Information Updates

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Americans Agree: Real Estate Best Long-Term Investment

Americans Agree: Real Estate Best Long-Term Investment

By Suzanne De Vita


Signaling growing confidence in the housing recovery, a majority of Americans once again named real estate the best long-term investment – a trend now continued for two consecutive years, according to a recently released Gallup poll.

Real estate edged out long-term investment options like stocks/mutual funds, gold, savings accounts/CDs and bonds, with 31 percent of Americans favoring housing for long-term gains. Twenty-five percent of Americans named stocks/mutual funds as the best investment long-term. Gold dropped from frontrunner in 2011 and 2012 to third, while savings accounts/CDs fell to 15 percent. Bonds dipped to just six percent.

The findings represent a significant change in consumer sentiment akin to the ongoing recovery. Notably, more Americans preferred savings accounts/CDs in 2012, as financial security remained critical for many in the wake of the crash.

Moreover, all major gender, age and income groups topped or tied the preference for real estate, coinciding with a number of recent initiatives set to increase opportunities for a diverse range of would-be buyers. These include the Fannie- and Freddie-backed three percent down payment program and the reassessment of credit strictures that have historically prevented borrowers from obtaining a mortgage.



Between July 2002 and April 2007, preferences for real estate fluctuated with the market, peaking at 50 percent during the boom and sinking to 37 percent as the economy nosedived. Preferences for real estate continued to fall through 2008 and 2009.

The Gallup poll was conducted April 9-12, 2015 from a random sample of 1,015 adults aged 18 and older living in all 50 U.S. states and the District of Columbia. For a complete look at responses, questions and trends, click here.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First" 

1 3/4 Story For Sale in Bretton Woods

a59c9386-c4df-4de5-9db2-d7ae700c3210
Backs to Greenbelt

• 2,818 sq. ft., 2 bath, 4 bdrm 1 3/4 story - MLS $235,000

 -  Attractive home with lovely private un-overlooked lot.Large formal dining room, high ceilings and nice hardwoods. Bright & light. 1st floor office makes a great 2nd living room on. Spacious master suite with door to rear yard and has a huge master bathroom & walk in closet. Large game room plus well sized bedrooms 2 - 4.

Property information

Spring into the Homebuying Season with These Home Improvement Projects

Spring into the Homebuying Season with These Home Improvement Projects

By Keith Loria


No matter where you live, the spring season is associated with cleaning and change. From saying goodbye to the old and hello to the new, the season also offers the perfect opportunity for sellers to take care of projects they’ve been putting off all winter. Whether it’s painting, replacing bathroom fixtures, sanding kitchen cabinets, staining the deck or re-grouting the bathroom, now’s the time to get the ball rolling on various home improvement projects that will pay big dividends when prospective buyers come to view your home.

While most of the home improvement projects you’re ready to tackle require detailed planning and preparation, you’ve more than likely been gearing up for these projects throughout the winter season. Even if you’re just getting around to planning your project, a visit to your local hardware store or a YouTube video of a DIY project can go a long way toward helping you get your project get off the ground.

Now that spring has sprung, you can also change various accessories within the home to create a totally different look. Bringing spring colors into the home is easy, especially with accessories like throw pillows, area rugs, artwork, towels and bedspreads. Designers recommend bringing in certain colors (think pears, eggs and seashells) to play off the spring theme. You can also incorporate leaf patterns in fabrics, wicker, real leather and rust metal to add a level of contrast.

Turning to the yard, one doesn’t need a green thumb to help their lawn look top-notch. In fact, adding flowers around the outside of the home is an easy way to create a beautiful color scheme. Flowers can either be put directly into the ground or arranged in planter’s boxes that can then be situated on a porch, in a sunroom or on a windowsill.

Flowers that are most manageable include marigolds, pansies, snapdragons and alyssum. Marigolds can be found in bright yellow and vivid orange, while pansies typically range from dark purple to pale violet. Snapdragons are taller and range from pink to blood red, while alyssum—used to fill out the space between plants—has tiny white or purple flowers on a bed of green.

You can also add shrubs to your lawn, planting a mixture of interesting bushes with architectural form and texture, which will add year-round ornamental value.

With the brutal winter behind us, now’s the perfect time to start thinking about spring cleaning and getting your home and yard in shape for the warmer weather headed our way.

For more information on getting your home ready for spring, contact our office today.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

Open House in Spring Lake on Sunday

April 2015
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Spring Lake, Sand Springs  -  We invite everyone to visit our open house at 4106 S 137th West Ave on April 26 from 14:00 to 16:00.

Come by to view this 5 car garage home with pool, sun deck, covered patio, gazebo, stream, surround sound safe room & greenbelt views. 

Property information

Open House in Oxford Court on Sunday

April 2015
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Oxford Court, Broken Arrow  -  We invite everyone to visit our open house at 17415 E 43rd Street Tulsa on April 26 from 14:00 to 16:00.

Come and view this wonderful home that backs to greenbelt with neighborhood pool & park. 

Property information

5 Ways to Increase Curb Appeal, Value

5 Ways to Increase Curb Appeal, Value


(Family Features)—Whether you're planning to list your home for sale soon or you're simply working to maintain features that attracted you to the charming abode in the first place, careful attention to curb appeal is a must.

In the real estate world, the saying to avoid judging a book by its cover does not apply. The exterior of your home sends an important message about its character, and even its value, making people eager to see what is inside. This first impression sets expectations for the entire property for potential buyers, appraisers and even your guests.

Keep your house looking young and inviting with these five home care tips:

1. Look at the landscaping. Curb appeal is about the whole picture your home presents, which includes your lawn, shrubs and features such as flower beds and rock gardens. Keep grass neatly trimmed and prune vegetation for a well-kept look. Also give your home a thorough look from the street. Are trees or shrubs obscuring an appealing architectural detail? Does vegetation dwarf your home, making it seem small? Would a pop of color from some flowering plants add to the overall look?
 

2. Beware of dingy dirt. Because you see your home every day, you may not realize the exterior has become dull with a layer of dust and dirt. An adjustable pressure washer will let you wash siding, garage doors and shutters without stripping paint as well as delicate items such as glass top patio tables. Then switch to the high flow mode, which delivers up to five gallons per minute for extended reach to clean second story windows, eaves and gutters or to blast away hard-to-reach cobwebs and insect nests.
 

3. Update with paint. If a thorough washing leaves a ho-hum look behind, it may be time to revisit your home's exterior color scheme. Even modest adjustments, from pale beige to a deeper tan, for example, can completely alter the look. Or, focus on adding color to the trim, door and shutters if new, all-over color is out of the question.
 

4. Wash where you walk. The favorable impression created by impeccable landscaping and a fresh, clean facade can be swept away in an instant if sidewalks, driveways and patios are unsightly. Skip the messy buckets and brush, and instead reach for a high pressure, high flow pressure washer such as those featuring Briggs & Stratton's POWERflow+ technology, which include adjustable pressure and flow as well as power-soaping detergent tanks to let you clean tough stains then quickly wash them away with a single machine.
 

5. Dote on the details. Decks, fences, mailboxes, birdbaths, gazebos and other decorative features all factor into your home's exterior image. Thoroughly clean these items, repair any loose or broken pieces such as fence slats, and apply a fresh coat of paint or stain, if needed.

 

Source: www.powerflowplus.com.

 

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

 

 Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

Mortgage Rates Inch further Down

Mortgage Rates Inch further Down


Freddie Mac recently released the results of its Primary Mortgage Market Survey® showing average fixed mortgage rates moving down again across the board. Average fixed rates that continue to run below four percent will help keep affordability high for those in the market to buy a home as we head into the spring home buying season.

"The average 30-year fixed mortgage rate fell to 3.69 percent following a decline in 10-year Treasury yields,” says Len Kiefer, Freddie Mac deputy chief economist. Low mortgage rates are a welcome sign for those in the market to buy a home this spring season and will help to support homebuyer affordability. Existing home sales in February increased slightly, but less than expected, to a seasonally adjusted annual rate of 4.88 million units. Meanwhile, new home sales outperformed expectations and surged 7.8 percent to an annual pace of 539,000 units.

The 30-year fixed-rate mortgage (FRM) averaged 3.69 percent with an average 0.6 point for the week ending March 26, 2015, down from the prior week when it averaged 3.78 percent. A year ago at this time, the 30-year FRM averaged 4.40 percent.  

Additionally, the 15-year FRM this week averaged 2.97 percent with an average 0.6 point, down from the last week when it averaged 3.06 percent. A year ago at this time, the 15-year FRM averaged 3.42 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.92 percent this week with an average 0.4 point, down from the week prior when it averaged 2.97 percent. A year ago, the 5-year ARM averaged 3.10 percent. 

Additionally, the 1-year Treasury-indexed ARM averaged 2.46 percent this week with an average 0.4 point, unchanged from the last week. At this time last year, the 1-year ARM averaged 2.44 percent.

For more information, visit http://www.freddiemac.com/.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

8 Ways First-Time Homebuyers Can Prepare for a Mortgage

8 Ways First-Time Homebuyers Can Prepare for a Mortgage


(BPT) - When it comes to buying your first home, a lack of knowledge and experience can lead to costly mistakes. One in four first-time homebuyers say they are completely unfamiliar with the mortgage financing process, according to a report by the Consumer Financial Protection Bureau (CFPB). Even among those with an understanding of the overall process, the report found that many first-time homebuyers still had significant knowledge gaps in important areas such as available mortgage rates, closing costs, down-payment requirements and income required to qualify for a loan.

First-time homebuyers can become mortgage-ready with these tips.

1. Adjust your budget. A mortgage payment can increase your monthly housing expenses, so prepare by calculating what that amount will be and begin saving that same amount every month so you can get used to the budget change in advance.

2. Plan for a down payment. Nearly all home loans will require you to put some money down as a down payment. Some home loans may require as much as 20 percent of the purchase cost as a down payment, although some Federal Housing Administration (FHA) loans may require less. Decide on the amount you think you'll need and create a savings plan to help you reach that goal.

3. Consider the location and type of home you want to buy. Many factors influence the cost of a home, including its location, size, style and more. A larger home in a high-income area will generally cost more, and property taxes will be higher on a bigger, newer, well-located home. Many first-time homebuyers find manufactured or mobile homes are a good option. Knowing the estimated cost of the type of home you want to purchase can help you better manage your budget.

4. Stay on top of your credit. Lenders will consider your credit score and report history when determining your mortgage eligibility and the interest rate they may offer you. Make sure to review your credit report in advance. You can download a free credit report once a year from all three major bureaus at www.annualcreditreport.com. If you're planning to apply for a mortgage, it's a good idea to review your report more frequently and to consider paying to obtain your credit score from at least one major bureau. If your report contains errors, work with the credit bureaus to have them corrected before you apply for a mortgage.

5. Keep current on monthly bills. While it's important to save toward a down payment, don't let monthly bills slide. Paying your bills on time every month can help increase your credit score, and a good payment history is something lenders look for when reviewing your credit report. Use online tools like email reminders and automatic payment options to help ensure you never miss or make a late payment.

6. Work on your debt. If you have delinquent balances, bring them up to date as quickly as possible. If you carry a lot of revolving credit card debt, you may want to work to reduce it by paying more than the monthly minimum payment. While it helps to have a report that shows no late payments, the most important thing is to not have any delinquent balances before you apply for a mortgage.

7. Plan for escrow. In addition to the amount you will need each month toward repaying your mortgage, you'll need escrow - an amount added to and collected with each monthly mortgage payment that is applied toward annual homeowners' insurance premiums and/or taxes. Estimating taxes and total insurance costs can help you better understand how much your escrow will be each month, and you'll be able to budget more accurately as you prepare for homeownership. Don't forget that this amount may adjust every 12 months if your insurance premium or taxes change for the next year.

8. Take advantage of educational resources. Check out resources like the Consumer Financial Protection Bureau (CFPB), the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA).

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First" 

How Does the Color of Your Home Affect Buyers?

How Does the Color of Your Home Affect Buyers?

By Suzanne De Vita


It’s no secret that color is crucial when marketing a product. In fact, consumers come to a subconscious conclusion about a product within 90 seconds of viewing, and much of that judgment (62-90 percent) is based solely on color, according to the Institute for Color Research. Retailers apply these findings every day (think red sale signs) to encourage consumers to purchase their products. Can the same be said in real estate?

Consider this: If color influences product marketing strategies, the color of a home can be a decisive factor when selling.

“Your home’s exterior color is literally the first thing a buyer will see and comment on,” says Suzanne Otto, home stager and owner of Six Twenty Designs in Montgomery County, Pa. When preparing a home for the market, Otto recommends shades within the white, tan or gray color families. These colors resonate beyond pure aesthetics – according to e-commerce giant eBay, white indicates safety. For a homebuyer, a home with a white exterior can translate to concepts like “shelter” or “safe haven.”

Related: Staging Curb Appeal for Web Appeal

Similarly, understated browns (including the aforementioned tan) signal security. Homes painted in sandy or mushroom hues read comfort and warmth. Colors like taupe, which falls somewhere between brown and gray, call to mind traditional values, homeownership included. Earthy tones like laurel green or artichoke can not only highlight a verdant landscape, but also evoke a sense of tranquility.

Per eBay’s assessment, blue is ideal to move product because it transcends culture. Homes outfitted with a dusty blue or blue-gray exterior may not bridge the gap between your everyday seller and an international homebuyer, but a universally regarded color can help widen the net for buyers on the home front.

If red signs boost retail sales, it seems likely a red home would be ideal for a speedy sale. Not necessarily – red in small doses, such as sale stickers or tags, encourages action. Red on a grander scale can cause adverse reactions. An alizarin crimson door, for instance, might be well-received by buyers, but a house in the same shade could potentially limit offers.

Homes in other colors can sell successfully – our retinas tend to register yellow before any other color, so a buttery yellow exterior could be an attractive option for buyers – but non-traditional colors, like oranges and purples, appeal to very specific personalities and can significantly shrink the pool of interested buyers.

It’s important for sellers to consider the home in relation to the neighborhood before swapping out the exterior color or refreshing an existing paint job. Do nearby homes share a distinct color scheme? Is each home uniquely colored? Evaluating the home’s surroundings can help sellers determine what’s most popular in their market.

View this original blog post at RISMedia's blog, Housecall. Check the blog daily for real estate news and trends for you and your clients.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

 

1 1/2 Story For Sale in Brandywine Estates

1
Delightful 2.5 Acre Home

• 4,799 sq. ft., 3 bath, 4 bdrm 1 1/2 story - MLS $363,900 - New Price

 -  Fabulous & Spotless; Large well equipped kitchen with built ins. New updates include; red oak floors; paint interior & exterior; window blinds. Extensive solid wood cabinetry in office, bedroom and craft room. Total refurbishment of endless pool including new pumps and new pool cover - http://www.endlesspools.com
Incredible sunroom with its own dedicated HVAC system. Total of 4 HVAC systems. Fixed natural gas Generac generator. Super location with easy run to Downtown Tulsa. Walk to river over adjoining pasture. Horse riding available at Brandywine Stables.

Property information

Report Ranks Average Down Payment in 2014 at 14 Percent

Report Ranks Average Down Payment in 2014 at 14 Percent


RealtyTrac® recently released a report analyzing purchase loan and sales data for single family homes and condos in 2014 in 386 counties nationwide which found that on average across all counties, buyers who purchased a home in 2014 put 14 percent down, translating into an average $32,141. Nearly 1.5 million purchase loans were included in the analysis.

“This analysis shows that first time homebuyers have a better shot at buying a home in low-priced markets, not just because of the lower price point but because on average buyers are putting down just 12 percent in those markets compared to 24 percent in high-priced markets,” says Daren Blomquist, vice president at RealtyTrac. “Meanwhile, the markets where millennials are moving the most have above-average down payment percentages, which will make it tough for millennial renters to convert into first-time homebuyers in those markets.

“There are a few exceptions, however, where the combination of an influx of millennials and relatively low average down payment percentages indicate markets that will see a quicker return of the first-time homebuyer,” Blomquist added. “Markets such as Nashville, Durham, Philadelphia, Des Moines, Little Rock and Columbus, Ohio.”

Down payments average 24 percent in highest-priced markets

In the 25 counties with the highest median home sales prices at the end of 2014, the average down payment percentage was 24 percent for homes purchased in 2014. The average down payment in dollars in these 25 counties was $138,547. On average, low down payment loans accounted for 7 percent of all home purchases in these counties in 2014.



Down payments average 12 percent in lowest-priced markets


In the 25 counties with the lowest median home sales prices at the end of 2014, the average down payment percentage was 12 percent for homes purchased in 2014. The average down payment in dollars in these 25 counties was $8,239. On average, low down payment loans accounted for 25 percent of all home purchases in these counties in 2014.



Average down payment 17 percent where millennials are moving most

In the 25 counties with the biggest increase in the millennial population between 2007 and 2013, the average down payment percentage was 17 percent for homes purchased in 2014 (above the national average of 14 percent). The average down payment in dollars in these 25 counties was $66,174—more than twice the national average of $31,723. The average down payment percentage in these 25 counties was 17 percent (above the national average of 14 percent), and on average low down payment loans accounted for 15 percent of all home purchases in 2014 (compared to 18 percent on average among all counties analyzed).



Top 10 markets for first time homebuyers

RealtyTrac identified the top 10 markets for first time homebuyers based on the average down payment percentage being below the national average of 14 percent and an increase in the millennial population of 20 percent or more following the Great Recession.

“We are anticipating further growth of consumers taking advantage of low down payment options for purchasing homes across Ohio in 2015,” says Michael Mahon, executive vice president at an Ohio-based real estate company. “As greater equity continues to stabilize property values, lenders’ use of down payment assistance programs, FHA, Fannie Mae, Freddie Mac, and USDA rural housing loans will continue to grow in popularity with first time home buyers, as well as boomerang home buyers returning to an appreciating housing market.”

“After the great recession, the public is becoming more aware of the available lending opportunities in the market today. The pendulum has swung back to a strong lending environment. As the millennials continue to move into the market and the investors diminish we will see the number of low down payment loans increase,” says Mike Pappas, CEO and president of a real estate firm covering the South Florida market. “Home affordability is still near an all-time high in our market—which makes it still a great buying opportunity.”

"It's clear that low down payment loans are being used by first-time and other entry level buyers in lower priced markets; however, even in higher cost markets, there are a wealth of homeownership programs available that could lower buyers' down payment and closing costs,” says Rob Chrane, president and CEO of Down Payment Resource. “Programs in high cost markets may offer even greater down payment help, and income and home price limits are typically increased to fit the market. There's a general lack of awareness among first time homebuyers about down payment programs which may be keeping more of them on the sidelines longer than necessary."

For more information, visit http://www.realtytrac.com/.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

New Report Shows 1.2 Million U.S. Borrowers Regained Equity in 2014

New Report Shows 1.2 Million U.S. Borrowers Regained Equity in 2014


CoreLogic® recently released new analysis showing 1.2 million borrowers regained equity in 2014, bringing the total number of mortgaged residential properties with equity at the end of Q4 2014 to approximately 44.5 million or 89 percent of all mortgaged properties.

Nationwide, borrower equity increased year over year by $656 billion in Q4 2014. The CoreLogic analysis also indicates approximately 172,000 U.S. homes slipped into negative equity in the fourth quarter of 2014 from the third quarter 2014, increasing the total number of mortgaged residential properties with negative equity to 5.4 million, or 10.8 percent of all mortgaged properties. This compares to 5.2 million homes, or 10.4 percent, that were reported with negative equity in Q3 2014, a quarter-over-quarter increase of 3.3 percent. Compared to 6.6 million homes, or 13.4 percent, reported for Q4 2013, the number of underwater homes has decreased year over year by 1.2 million or 18.9 percent.

Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in value, an increase in mortgage debt or a combination of both.

For the homes in negative equity status, the national aggregate value of negative equity was $349 billion at the end of Q4 2014. Negative equity value increased approximately $7 billion from $341.8 billion in Q3 2014 to $348.8 billion in Q4 2014. On a year-over-year basis, however, the value of negative equity declined overall from $403 billion in Q4 2013, representing a decrease of 13.4 percent in 12 months.

Of the 49.9 million residential properties with a mortgage, approximately 10 million, or 20 percent, have less than 20-percent equity (referred to as “under-equitied”) and 1.4 million of those have less than 5-percent equity (referred to as near-negative equity). Borrowers who are “under-equitied” may have a more difficult time refinancing their existing homes or obtaining new financing to sell and buy another home due to underwriting constraints. Borrowers with near-negative equity are considered at risk of moving into negative equity if home prices fall. In contrast, if home prices rose by as little as 5 percent, an additional 1 million homeowners now in negative equity would regain equity.

“The share of homeowners that had negative equity increased slightly in the fourth quarter of 2014, reflecting the typical weakness in home values during the final quarter of the year,” says Dr. Frank Nothaft, chief economist for CoreLogic. “Our CoreLogic HPI dipped 0.7 percent from September to December, and the percent of owners 'underwater' increased to 10.8 percent. However, from December-to-December, the CoreLogic index was up 4.8 percent, and the negative equity share fell by 2.6 percentage points.”

“Negative equity continued to be a serious issue for the housing market and the U.S. economy at the end of 2014 with 5.4 million homeowners still 'underwater',” says Anand Nallathambi, president and CEO of CoreLogic. “We expect the situation to improve over the course of 2015. We project that the CoreLogic Home Price Index will rise 5 percent in 2015, which will lift about 1 million homeowners out of negative equity.”

“2015 started out much stronger than 2014,” says Mike Schlott, president of The Randall Family of Companies in Rhode Island. “Historically consumers in our market area have been very positive on the concept of homeownership and we have seen that sentiment return in full over the last few years. Operating along the coast, we have a high density of second homes and luxury properties and we have found that buyers in those markets believe strongly in the value and benefits of homeownership.”

Highlights as of Q4 2014


Nevada had the highest percentage of mortgaged properties in negative equity at 24.2 percent; followed by Florida (23.2 percent); Arizona (18.7 percent); Illinois (16.2 percent) and Rhode Island (15.8 percent). These top five states combined account for 31.7 percent of negative equity in the United States.

Texas had the highest percentage of mortgaged residential properties in an equity position at 97.4 percent, followed by Alaska (97.2 percent), Montana (97.0 percent), Hawaii (96.3 percent) and North Dakota (96.2 percent).

Of the 25 largest Core Based Statistical Areas (CBSAs) based on mortgage count, Tampa-St. Petersburg-Clearwater, Fla., had the highest percentage of mortgaged properties in negative equity at 24.8 percent, followed by Phoenix-Mesa-Scottsdale, Ariz. (18.8 percent), Chicago-Naperville-Arlington Heights, Ill. (18.5 percent), Riverside-San Bernardino-Ontario, Calif. (14.8 percent) and Atlanta-Sandy Springs-Roswell, Ga. (14.6 percent).

Of the same largest 25 CBSAs, Houston-The Woodlands-Sugar Land, Texas had the highest percentage of mortgaged properties in an equity position at 97.7 percent, followed by Dallas-Plano-Irving, TX (97.1 percent), Anaheim-Santa Ana-Irvine, Calif. (96.4 percent), Portland-Vancouver-Hillsboro, Ore. (96.4 percent) and Denver-Aurora-Lakewood, Col. (96.2 percent).

Of the total $349 billion in negative equity, first liens without home equity loans accounted for $185 billion aggregate negative equity, while first liens with home equity loans accounted for $164 billion, or 47 percent.

Approximately 3.2 million underwater borrowers hold first liens without home equity loans. The average mortgage balance for this group of borrowers is $228,000. The average underwater amount is $57,000.

Approximately 2.1 million underwater borrowers hold both first and second liens. The average mortgage balance for this group of borrowers is $295,000.The average underwater amount is $77,000.

The bulk of home equity for mortgaged properties is concentrated at the high end of the housing market. For example, 94 percent of homes valued at greater than $200,000 have equity compared with 84 percent of homes valued at less than $200,000.

For more information, visit http://www.corelogic.com/.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

Single Story For Sale in Burning Tree

1

• 1,960 sq. ft., 2 bath, 3 bdrm single story - MLS $169,900

 -  Wonderfully remodeled and updated home! Includes new kitchen design, appliances, granite, carpet, lighting, paint, tile, bathrooms, sliding glass doors, super master bath. Picturesque yard fully planted, ready for move in!

Property information

1 1/2 Story For Sale in Hunters Pointe

1
Stunning Remodel & New Addition

• 5,938 sq. ft., 5 bath, 4 bdrm 1 1/2 story - MLS $995,000

 -  Designed as a single story home, custom built by the first owner, a commercial builder using Blueprints from an Arizona designer. The original home has been totally remodeled over the past few years; a 2 story addition to the rear was also completed in 2012.
The original kitchen and all bathrooms have been totally gutted, taken back to studs and rebuilt with a new contemporary flair. A completely new half bath has been built to the west of the foyer, the laundry has been repositioned and a new wine/coffee center room built. Walls and arches have been removed, added or reshaped and remodeled. New lighting and fixtures throughout.

Driveway - widened for parking

Covered porch – Restyled front doors, renewed and re built porch arches
Foyer - Octagon in shape, dramatic height, remodeled ceiling, surrounded by eight grand, solid, structural pillars. Gorgeous views though living room over rear deck

Study – to right of foyer – lots of built-ins, glazed cabinetry, ceilings and plantation shutters

Bedroom two – to right of foyer, remodeled, , plantation shutters, large closet, private full bath, travertine tiled, polished grey slate countertop, glass vessel sink, raised height dual flush Toto toilet with soft close seat

Half bath – to left of foyer, polished grey slate countertop designed to accent the vessel sink, raised height dual flush Toto toilet with soft close seat

Bedroom three – to left of foyer remodeled, plantation shutters, private full bath, travertine tiled, polished grey slate countertop, glass vessel sink

Garage – to left of foyer, 3 car bays, oversized storage, granite counters over considerable storage cabinetry, built-in workbench with separate lighting, storm safe room & access to extensive floored attic

Laundry – to left of foyer, connecting to the master bedroom hallway, granite countertop, travertine tile, sink, hanging space, storage

Master bathroom foyer – travertine floors and built in drawer system

Master bathroom - radiant flooring, sunken air jetted 2 person tub with remote controlled LED lighting and in-built FM. Double travertine tiled shower, infinity mirrors, his and hers vanities, slab fronted solid wood cabinetry, Caesarstone counters with travertine Zen basins, toilet has raised height dual flush Toto toilet with soft close seat and a bidet, variety of lighting options, plantation shutters

Master closet – remodeled and purpose built designed master closet with floor to ceiling solid Sapele wood cabinetry, travertine flooring, and center isle with soft close drawers and cabinets, glass top, built to massage table size

Master bedroom – spacious, with sitting area and views of garden, office desk, built in bookshelves/display area, fireplace & plantation shutters

Formal living room - with views over rear deck, open to formal dining and entertainment bar. Huge 11’ arched windows overlooking rear yard & fireplace

Formal dining room - now open to: kitchen via a rectified archway complete with a dining bar and overhead lighting; stairwell and entertainment wet bar with black granite sink

Kitchen - Sleek, slab front, solid wood cabinetry with soft close drawers. Center isle with cook top and prep sink. The stainless steel high end appliances consist of a double oven, warming drawer, drawer microwave, dishwasher, an induction cooktop with downdraft extractor and sub-zero refrigerator. There is a double black granite sink facing the window with tree top views to the east plus a black granite prep sink in the center island. Both sinks have disposals. All countertops in kitchen and within wet bars are Caesarstone. Large angled counter height dining bar in kitchen

Butler's pantry an entirely new room purposefully designed to facilitate entertaining, has a stainless steel trough sink with filtered water supply for the sink and stand alone ice maker, a wine fridge and a built in Thermador coffee center

Den - The fireplace and chimney in the den has been redesigned, rebuilt inside and outside. Bench seating within archways designed to enhance seating capacity for any entertaining gathering

Stairwell – with high ceilings and Grade 1/First Grade maple hardwood flooring serving the new 2 level addition at the rear. This addition was designed specifically to retain the single story feature of the original home, by incorporating a new private elevator at the stairwell and access to the rear deck area

Elevator – installed to ensure that both levels can be easily accessed as if it were a one story home. This gives a potential use for a mother in law wing, teenager, or guest wing if required

Media room - (currently in use as an office) on the upper level, was designed with potential alternative uses in mind. The large heated and cooled closet used for concealed media equipment could be utilized as an additional bathroom if required and the media room as a bedroom, there is space for a further closet to the north side. 8’ Pella triple glazed low e sliding doors allow access to the upper deck area

Upper Deck – Extensive and two levels, edging the house overlooking the pool area. Low maintenance, MoistureShield Vantage Collection composite wood decking, resistant to rot, no need for painting, staining or sealing The cable rail system ensures that the view to the rear garden and onward views to both the Hunters Pointe lower pond & Crown Pointe pond and fountains (in the adjacent neighborhood) is not impaired

Bedroom 4 - currently the exercise room – on lower level. Another multipurpose room, would make ideal bedroom, has an adjoining full bathroom with water/wine cooler and easy access to the pool. There is also a 2nd laundry in this room’s closet

Bathroom – Black quartz vanity, separate changing room, separate walk in shower, raised height dual flush Toto toilet with soft close seat, access to exercise room/bedroom 4

Under Stairs Closet – Heated and cooled, tiled flooring, large storage facility

Contemporary living room – on lower level has been designed with a full kitchen, bar and modern wall mounted fire. 8’ Pella triple glazed low e sliding doors allow access to the outside area. This room has direct access to the covered patio which is graced with automated remote controlled screens and onward to the pool deck. The entire screened patio area has the same Italian ceramic flooring as the entire lower level and a stucco ceiling so that when the sliding doors are opened the living room is enlarged by the outside area and still feels like a room

Contemporary kitchen – Built in down draft gas grill and cook top, dishwasher, drawer microwave, double sink and disposal, custom built bar, black quartz counter tops

Pool area - a contemporary design, heated & self-cleaned, gunite, in ground, salt water pool with pebble-tec surface and a negative (infinity) edge, incorporating a raised sunning plinth and step for easy access, steps into the pool. Fire pit with contemporary glass chips and remote controlled fire torches at the pool edge add stunning evening accents. The whole pool deck is surrounded by bench seating

General Notes
Intercom/radio system connecting to garage, bed’s 1 thru 3, study, kitchen and stairwell
Hallway to left of foyer has an attic fan positioned by access to garage
Authentic handmade Saltillo tile flooring in upper hallways and kitchen
Thermal windows
5 zoned HVAC systems allowing for independent control with maintenance contract
Automated roof vents
4 interior fireplaces
Sprinkler system installed and drainage system extended
Three grass types to ensure green in the shady areas
Low maintenance yard
New roof 2009 & 2012 on addition
Drainage culvert to the rear on the north side is an HOA easement and maintained by HPPOA
Owner/Broker

Property information

7 New Ways to Make Your Home Look Larger

7 New Ways to Make Your Home Look Larger

By Barbara Pronin


Hanging large mirrors on one wall of the living room has been touted for years as a way to make the room larger. But, said New York designer Jeffrey Blum, mirrors reflect everything in the room, creating the illusion of clutter.

Blum, the owner of SixZero6 Designs, suggests seven less traditional ways homeowners should consider to create the illusion of more space:

Invest in built-ins – Whether you add window-seats or built-in bookshelves, small rooms will benefit. Unlike groupings of furniture which can appear awkward or cluttered, built-ins make small rooms provide vertical interest and architectural detail, making them appear gracious and more substantial.

Open up the doorways – Renovate doorways, making them as wide and tall as possible, preferably to the ceiling. There may be no need to remove an entire wall between rooms when enlarging a door can make a huge difference.

Choose larger floor tile – The larger the tile, plank or pattern on a floor, the larger the room will look. Even the tiniest of powder rooms can benefit from this trick. Another tip? Install tiles on a diagonal.

Make use of the hallway
– Hallways often seem small and closed-in. ‘Open’ them by hanging an eye-catching piece of artwork at the far end. This draws the eye to the longest distance, making the hallway appear less cramped.

Add a wall of windows – Replace the living slider with a wall of windows or French doors. They will brighten the room and draw the eye out to the landscaping, making the room itself seem more expansive.

Use light colors and scaled-down furniture – Rooms painted in light colors, especially cream colors and icy blues, help make a room appear larger. Choose low-profile or slim pieces of furniture, rather than large or overstuffed pieces, to maintain the open look.

Please the senses – Just placing fresh flowers in a room, playing soft music and opening windows or sliders to let the breeze in can go a long way toward making a small room appear airier and me spacious.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First" 

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