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Mortgage Applications Inch Forward

Mortgage Applications Inch Forward


Mortgage applications increased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 29, 2014.

Mortgage applications increased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 29, 2014.

The Market Composite Index, a measure of mortgage loan application volume, increased 0.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1 percent compared with the previous week. The Refinance Index increased 1 percent from the previous week. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier. The unadjusted Purchase Index decreased 4 percent compared with the previous week and was 12 percent lower than the same week one year ago.

The refinance share of mortgage activity increased to 57 percent of total applications, the highest level since March 2014, from 56 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 7.8 percent of total applications.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to 4.25 percent, the lowest level since June 2013, from 4.28 percent, with points decreasing to 0.24 from 0.25 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) remained unchanged at 4.22 percent, with points decreasing to 0.19 from 0.28 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from the week prior.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.99 percent from 3.98 percent, with points decreasing to 0.03 from 0.13 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.48 percent from 3.47 percent, with points decreasing to 0.30 from 0.34 (including the origination fee) for 80 percent LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 5/1 ARMs increased to 3.19 percent from 3.10 percent, with points decreasing to 0.45 from 0.52 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

For more information, visit www.mba.org.

Reprinted with permission from RISMedia. ©2014. All rights reserved.

Single Story For Sale in Providence Hills

The Home
Delighful Outdoor Living

• 2,057 sq. ft., 2 bath, 3 bdrm single story - MLS $225,000

 -  Fabulous single story home with wonderful stained concrete floors. Dramatic high ceilings and an open plan kitchen with center island and large granite bar. A split plan home with a large master suite. Vaulted ceiling in office. Gorgeous new arbor over the real patio makes for an entertainers delight. Huge rear yard with vegetable garden and views over open countryside.

Property information

Mortgage Applications Increase

Mortgage Applications Increase


Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 22, 2014.

The Market Composite Index, a measure of mortgage loan application volume, increased 2.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2 percent compared with the previous week. The Refinance Index increased 3 percent from the previous week. The seasonally adjusted Purchase Index increased 3 percent from one week earlier. The unadjusted Purchase Index increased 1 percent compared with the previous week and was 11 percent lower than the same week one year ago.

The refinance share of mortgage activity increased to 56 percent of total applications, the highest level since March 2014, from 55 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 8.0 percent of total applications.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to 4.28 percent from 4.29 percent, with points decreasing to 0.25 from 0.26 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate remained unchanged from the week propr.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 4.22 percent from 4.18 percent, with points increasing to 0.28 from 0.23 (including the origination fee) for 80 percent LTV loans. The effective rate increased from the previous week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.98 percent, the lowest since June 2013, from 3.99 percent, with points increasing to 0.13 from 0.03 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.47 percent from 3.44 percent, with points increasing to 0.34 from 0.30 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs remained unchanged at 3.10 percent, with points increasing to 0.52 from 0.44 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

For more information, visit www.mba.org.

Reprinted with permission from RISMedia. ©2014. 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(918) 798 4428
Graham Cell: (918) 798 6628(918) 798 6628
Fax: 918 398 5330 & 800 829 9408800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

Builder Confidence Shows Positive Signs in the Second Quarter

Builder Confidence Shows Positive Signs in the Second Quarter


Builder confidence in the single-family 55+ housing market for the second quarter is up year over year, according to the recently released National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI). Compared to the second quarter of 2013, the single-family index increased three points to a level of 56, which is the highest second-quarter reading since the inception of the index in 2008 and the 11th consecutive quarter of year-over-year improvements.

“We have seen steady improvement in the 55+ housing sector as buyers and renters are attracted to new homes that offer many of the luxuries and conveniences they desire,” says Steve Bomberger, chairman of NAHB’s 50+ Housing Council and president of Benchmark Builders Inc. in Wilmington, Del. “Fifty-five-plus buyers are very selective and have high expectations, and new construction can meet their needs and discerning tastes.”

There are separate 55+ HMIs for two segments of the 55+ housing market: single-family homes and multifamily condominiums. Each 55+ HMI measures builder sentiment based on a survey that asks if current sales, prospective buyer traffic and anticipated six-month sales for that market are good, fair or poor (high, average or low for traffic). An index number below 50 indicates that more builders view conditions as poor than good.

Two of the components of the 55+ single-family HMI posted increases from a year ago: present sales climbed seven points to 61 and expected sales for the next six months rose one point to 61. Meanwhile, traffic of prospective buyers dropped six points to 42.

Although the 55+ multifamily condo HMI dipped five points to 38, it is still the second highest reading for the second quarter since the inception of the index. All three components of the index decreased for the second quarter: present sales dropped five points to 39, expected sales for the next six months fell four points to 42 and traffic of prospective buyers dropped three points to 35.

The indices tracking production and demand of 55+ multifamily rentals moved in different directions in the second quarter. Present production rose three points to 53, expected future production increased one point to 53, while current demand for existing units dropped three points to 59 and future demand fell two points to 61.

“One of the factors contributing to the positive signs in the 55+ housing market is the slow but steady increase in existing home sales in the last three months,” says NAHB Chief Economist David Crowe. “The 55+ market is strongly driven by consumers being able to sell their existing homes at a favorable price in order to buy or rent in a 55+ community.”

For the full 55+ HMI tables, visit nahb.org/55hmi.

Reprinted with permission from RISMedia. ©2014. 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" 

Fixed Mortgage Rates Edge Lower

Fixed Mortgage Rates Edge Lower


Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®) showing average fixed mortgage rates following bond yields lower. Averaging 4.12 percent for the week, the 30-year fixed-rate mortgage once again is at its 2014 low.

"Mortgage rates were down slightly amid a week of light economic reports,” notes Frank Nothaft, Freddie Mac vice president and chief economist. “Of the few releases, retail sales were virtually unchanged in July after a 0.2 percent increase in June, ending five months of increases. Excluding motor vehicles and parts, retail sales were up 0.1 percent last month."

Survey findings include:
  • 30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.6 point for the week ending August 14, 2014, down from last week when it averaged 4.14 percent. A year ago at this time, the 30-year FRM averaged 4.40 percent.
  • 15-year FRM this week averaged 3.24 percent with an average 0.6 point, down from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 3.44 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent this week with an average 0.5 point, down from last week when it averaged 2.98 percent. A year ago, the 5-year ARM averaged 3.23 percent.
  • 1-year Treasury-indexed ARM averaged 2.36 percent this week with an average 0.5 point, up from last week when it averaged 2.35 percent. At this time last year, the 1-year ARM averaged 2.67 percent.
Average commitment rates and average fees and points reflect the total upfront cost of obtaining the mortgage. Borrowers may still pay closing costs which are not included in the survey.

Source: Freddie Mac

Reprinted with permission from RISMedia. ©2014. 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 Sky View

1425745_1

• 1,106 sq. ft., 1 bath, 2 bdrm single story - MLS $80,900

 -  Looks cute & super spacious. New in last 3 yrs, central HVAC, new roof, some replacement windows, interior paint. Huge addition at rear, with 2nd living area/gameroom. 2 car carport plus garage with separate workshop at rear of garage. Ready for move in. Need to view!

Property information

Inheriting Property? These Home Inheritance Solutions Can Help

Inheriting Property? These Home Inheritance Solutions Can Help

By Nick Caruso

The passing of a loved one is both devastating and trying. It presents the time to mourn and celebrate the person’s life, to gather with family and friends, and to organize any assets that have been left behind. A significant factor of this involves the home, where the real estate of a deceased individual gets passed on to an heir. However, in addition to the property itself, the heir also receives any leftover equity and loans that remain on the home. Whatever has not fully been paid on the property is then handed to the beneficiary.

Inheriting a home that still carries debt can be overwhelming, which is why the more information known about the property, the better. It is essential for the heir to familiarize themselves with the home and what options they possess.

What does it mean to inherit property?
To inherit property means to receive real estate from a loved one through legal means by way of a will after their death. The inheritance of real estate works when the owner puts the home under title by contract, meaning that the property is given a designated beneficiary for after the owner passes away. The property that is bestowed to the heir, however, will also carry any damages or debt that it had at the time of the original owner’s death. These are all given to the heir, who becomes responsible for ongoing payments.

What if the home has remaining equity?
When real estate is inherited, so is the mortgage, loan and any other debt that still needs to be paid. If there is remaining equity, for instance, the lender must still be reimbursed even though the owner is no longer living. When loans are involved, they are directly transferred to the heir. In this case, the interest rate and monthly payments will remain the same. Or, if these numbers are unrealistic and unachievable for the beneficiary, they can try to qualify for a new loan to reduce the interest rate and monthly payments. In some cases, this option does not provide enough of a financial solution for the heir and, depending on the amount of equity that still needs to be paid, other courses of action might be necessary in order to avoid foreclosure.

What are other possible courses of action?

  • Keep the estate and rent it out
  • Personally pay off the debt and live in the property
  • Fix and flip the home to sell on the market
  • If it is in poor condition, sell it to professional homebuyers for cash
  • Refuse to inherit the home with a written disclaimer

Acting as heir to a home is a significant responsibility, and the financial factors that get passed on with the property may seem endless. However, as illustrated above, there are other alternatives. For more information, visit AllHomesAz.com.

This post was originally published on RISMedia's blog, Housecall.

Reprinted with permission from RISMedia. ©2014. 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" 

Home Price Increases Cool Down in the Summertime

Price Increases Cool Down in the Summertime


Home prices nationwide, including distressed sales, increased 7.5 percent in June 2014 compared to June 2013 and rose 1 percent over May, setting new highs for 12 states. Despite low rates, investor purchases and tight supplies, prices are expected to slow down to a .07 percent monthly increase in July.

A total of 12 states, plus the District of Columbia, reached new highs in the Home Price Index dating back to January 1976 when the index started. These states are Alaska, Colorado, District of Columbia, Iowa, Louisiana, Nebraska, North Dakota, Oklahoma, South Dakota, Tennessee, Texas, Vermont and Wyoming. At the state level, including distressed sales, only Arkansas posted a decline in June 2014 with 0.4-percent depreciation, according to the June CoreLogic HPI Forecast.

Excluding distressed sales, home prices nationally increased 6.9 percent in June 2014 compared to June 2013 and 0.9 percent month over month compared to May 2014. Also excluding distressed sales, all 50 states and the District of Columbia showed year-over-year home price appreciation in June. Distressed sales include short sales and real estate owned (REO) transactions.

The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase 0.7 percent month over month from June 2014 to July 2014 and, on a year-over-year basis, by 5.7 percent from June 2014 to June 2015. Excluding distressed sales, home prices are expected to rise 0.6 percent month over month from June 2014 to July 2014 and by 5 percent year over year from June 2014 to June 2015. The CoreLogic HPI Forecast is a monthly projection of home prices built using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“Home-price appreciation continued moderating in June with its slight month-over-month increase,” says Mark Fleming, chief economist for CoreLogic. “This reversion to normality that we are finally experiencing is expected to continue across the country and should further alleviate concern over diminishing affordability and the risk of another asset bubble.”

“Home prices are continuing to rise, fueled by ongoing tight supply, low rates and aggressive investor buying on the East and West Coasts,” says Anand Nallathambi, president and CEO of CoreLogic. “The expected surge in the number of homes for sale has not materialized to date as many homeowners are staying put and waiting for better economic times and higher prices in the future.”

For more information visit http://www.realestateeconomywatch.com/.

Reprinted with permission from RISMedia. ©2014. 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"

 

2 Story For Sale in Oakbrook Village

1425128_1

• 1,177 sq. ft., 2 bath, 3 bdrm 2 story - MLS $63,000

 -  Quiet location and undoubtedly great value. This home comes complete with washer, dryer, fridge, wall mounted flat screen TV and front patio. Wood burning fireplace enclosed with attractive decorative black plexiglass for a contemporary feel. New in the last 5yrs: furnace & hot water heater. New in Aug 2014, A/C unit & patio door. Rare in condo developments in that it is graced with a full 2 car attached garage with electric overhead door. Neighborhood clubroom and wonderful swimming pool. Awaits you now and move in ready.

Property information

Single Story For Sale in R. T. Daniel

1

• 1,106 sq. ft., 2 bath, 3 bdrm single story - MLS $69,900

 -  Investor special 3 bed, 2 bath, great curb appeal. Benefits from updated oven, gas cook top, dishwasher, HVAC newer EOHD. Indoor utility, addition includes kitchenette, bedroom, bathroom. In-ground dry storm cellar. Sold As Is

Property information

Home Sales Expected to Accelerate

Home Sales Expected to Accelerate


After a slow start this year, home sales are predicted to play catch up for the remainder of 2014, according to the Freddie Mac U.S. Economic and Housing Market Outlook for July. The report showed mixed data results for the housing recovery as we head into the second half of the year. While sales are predicted to improve, home sales forecast remains at 5.4 million, a slippage of about 2 percent compared to last year. Existing sales are projected to be 3 percent lower, whereas new home sales are projected up by 10 to 15 percent.

The report projects that new housing construction will increase about 14 percent in 2014 compared to 2013. Housing starts for 2014 are forecast to be 1.05 million dwellings with multifamily accounting for about one-third.

"Although the economic news for the first half of 2014 has been bittersweet, there is good news to share as we head into the latter half of summer,” says Frank Nothaft, Freddie Mac vice president and chief economist. “In particular, employment was up by nearly 1.4 million during the first six months and this will bolster household formations, resulting in positive gains most immediately for the rental housing market and then, longer term, for single-family home sales. The multifamily rental market has led the rest of the housing sector into recovery, and about one-third of housing starts in the first quarter were for multifamily rental apartments. There's no question the single-family recovery is moving slowly, but it continues to doggedly press forward and we are cautiously optimistic."

The employment picture has improved, with a net monthly growth of 231,000 nonfarm jobs for the first half of 2014. Stronger employment will translate into more household formations and a pickup in rental housing demand, with future gains for the single-family sales market.

Single-family mortgage originations are down following a lackluster spring home buying season and a sharp drop in refinance. For this reason, the mortgage originations forecast for 2014 was reduced by 6 percent to $1,175 billion.

Freddie Mac expects fixed mortgage rates to rise very gradually during the year in keeping with the Fed's plan to keep interest rates low at this time. Look for the average 30-year fixed mortgage rate to end the year still near historic lows at around 4.4 percent, according to the organization.

For more information, visit FreddieMac.com.

Reprinted with permission from RISMedia. ©2014. 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" 

Five Remodeling Projects That Add Resale Value

Five Remodeling Projects That Add Resale Value


When considering which rooms to renovate in your home, it’s important to keep in mind which upgrades are likely to give you the greatest return on your investment. A recent report by Remodeling magazine indicates the top five projects that recoup the most dollars at resale.

1. Kitchen – The best way to increase your home’s value is to do a complete kitchen renovation. Aside from stainless steel appliances and modern finishes on cabinets and countertops, upgrade the room’s electrical and plumbing systems to get the most bang for your buck.

2. Master bedroom – Whether you choose a full renovation or simple cosmetic changes, updates to a master bedroom are well worth the money. For a master bedroom overhaul, consider adding an en suite bath and fireplace. For smaller improvements, create a sitting area, install double sinks, and add plenty of closet space.

3. Open floor plan – Entertainment areas are a must in today’s homes, so reconfiguring a living space is a wise investment. Removing walls around your kitchen drives an open concept and makes it easy for homeowners to attend to guests.

4. Two-story addition – Although expensive, two-story additions expand square footage; one 2two-story addition can add up to three extra rooms. However, it is often a lengthy project that requires a family to relocate temporarily.

5. Basement
– Finished basements add living space, but they will only increase resale value if basements are common in the neighborhood and region. Be sure to carefully consider whether a renovation is right for you.

Source: Bankrate

Reprinted with permission from RISMedia. ©2014. 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" 

Remodeled Contemporary Tranquil Home plus New Addition & Pool

23.2
Stunning Remodel & New Addition

• 5,938 sq. ft., 4 bath, 4 bdrm 2 story - MLS $1,000,045

 -  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

Property information

Bungalow For Sale in Darlington South

1
Wonderful Updated Home

• 2,180 sq. ft., 2 bath, 3 bdrm bungalow - MLS $205,000

 -  Just Perfect! 2 living rooms, 2 fireplaces, granite counters & breakfast bar. 1 story floor plan with added staircase to unfinished gameroom. Updates inc. high efficiency HVAC system installed to accommodate the upper level. New European Oak wide plank wood flooring in formal and dining room. New stone façade on front of home, kitchen appliances, plus a new sprinkler system & landscaping. New 10x12 shop also added last year.

Property information

June Housing Scorecard: New-and Existing-Home Sales Up

June Housing Scorecard: New-and Existing-Home Sales Up


The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury recently released the June edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. The latest data show progress among key indicators, including growing equity and a rebound in the sale of new and existing homes. While this scorecard notes positive overall trends in the housing market, officials caution that more work needs to be done as the economy recovers from the Great Recession. The full Housing Scorecard is available online at www.hud.gov/scorecard.

“The June Housing Scorecard shows the housing market continues to make progress as we move into the summer months,” says HUD Assistant Secretary for Policy Development and Research Katherine O’Regan. “Sales of new and existing homes are up, equity continues to grow, and foreclosures starts continue trending down. While these are all signs of a healthy recovery, given the severity of the housing crisis, we must stay committed to helping homeowners.”

“Although the housing market continues to improve, Treasury remains committed to helping homeowners who are still struggling to make their mortgage payments,” says Treasury Acting Assistant Secretary Tim Bowler. “To date, more than 1.3 million homeowners have received a permanent modification through the Home Affordable Modification Program (HAMP), saving an estimated $28.2 billion in mortgage payments.”

The June Housing Scorecard features key data on the health of the housing market and the impact of the Administration’s foreclosure prevention programs, including:

Purchases of new homes surged by 18.6 percent in May. New-home sales rebounded to a seasonally adjusted annual rate (SAAR) of 504,000 in May, following sales of 425,000 in April, and were up 16.9 percent from one year ago. Purchases of new homes rose in May by the biggest monthly gain in 22 years (since January 1992) and to the highest level since May 2008, indicating that home sales are rebounding from a severe-weather induced lull during the previous two quarters. (Source: HUD and Census Bureau).

Sales of previously owned (existing) homes rose again in May after a lackluster performance in the previous two quarters. The National Association of REALTORS® (NAR) reported that existing homes—including single-family homes, townhomes, condominiums, and cooperatives—sold at a pace of 4.89 million (SAAR) in May, up 4.9 percent from April but remain 5.0 percent below the 5.15 million pace a year-earlier.

Foreclosure starts continue their downward trend. Lenders started the public foreclosure process on 49,240 U.S. properties in May, down 10 percent from the previous month and down 32 percent from one year ago to the lowest level since December 2005—a 101-month low (although foreclosure starts were up from a year ago in 12 states). (Source: Realty Trac)

Foreclosure completions also fell in May. Lenders completed the foreclosure process (bank repossessions or REOs) on 28,373 U.S. properties in May, down 6 percent from the previous month and down 27 percent from one year ago to the lowest level since July 2007—an 82-month low (although bank repossessions were up from a year ago in 14 states). (Source: Realty Trac)

The Administration's foreclosure mitigation programs continue to provide relief for millions of homeowners as the recovery from the housing crisis continues. In all, more than 8.5 million mortgage modification and other forms of mortgage assistance arrangements were completed between April 2009 and the end of May 2014. Nearly 2.1 million homeowner assistance actions have taken place through the Making Home Affordable Program, including nearly 1.4 million permanent modifications through the Home Affordable Modification Program (HAMP), while the Federal Housing Administration (FHA) has offered more than 2.3 million loss mitigation and early delinquency interventions through May. The Administration’s programs continue to encourage improved standards and processes in the industry, with HOPE Now lenders offering families and individuals more than 4.1 million proprietary modifications through April (data are reported with a 2-month lag).

For more information, visit www.hud.gov/scorecard.

Reprinted with permission from RISMedia. ©2014. All rights reserved.

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