Welcome to Janet & Graham Ford - Tulsa Real Estate Sign in | Help

August 2015
SuMoTuWeThFrSa
2627282930311
2345678
9101112131415
16171819202122
23242526272829
303112345

Brighton Village, Broken Arrow  -  We invite everyone to visit our open house at 6006 S 13th Place Broken Arrow on August 9 from 14:00 to 16:00.

Property information

Department of Defense Issues Final Military Lending Act Rule


After nearly three years of study, the Department of Defense issued the final Military Lending Act (MLA) rule.

The MLA better protects our service men and women from predatory credit practices by expanding financial protections provided to service members, and helping ensure military families receive the consumer protections they deserve. These actions build on the president’s announcement during a speech at the Pittsburgh chapter of the VFW of a voluntary partnership with financial lenders across the country to help deliver important financial and home loan-related protections to our military community.

"With this action, the department takes an important stand against companies that can prey on our men and women in uniform. This new rule addresses a range of credit products that previously escaped the scope of the regulation, compromising the financial readiness of our troops. Today, with our regulatory and enforcement partners, we stand united in support of our service members and their families," says Deputy Secretary of Defense Bob Work.

This rule applies the protections of the Military Lending Act to all forms of payday loans, vehicle title loans, refund anticipation loans, deposit advance loans, installment loans, unsecured open-end lines of credit, and credit cards. The implementing regulation provides several significant protections extended to active duty service members and their families, including:
  • A 36 percent Annual Percentage Rate limit. This cap, which is referred to as the Military Annual Percentage Rate or MAPR, covers all interest and fees associated with the loan. This limit now includes charges for most ancillary “add-on” products such as credit default insurance and debt suspension plans.
  • The MLA prohibits creditors from requiring service members to: submit to mandatory arbitration and onerous legal notice requirements; waive their rights under the service members’ Civil Relief Act; provide a payroll allotment as a condition of obtaining credit (other than from relief societies); be able to refinance a payday loan; or be able to secure credit using a post-dated check, access to a bank account (other than at an interest rate of less than 36 percent MAPR), or a car title (other than with a bank, savings association or credit union).
  • The changes to definitions of credit in the final rule bring any closed or open-end loan within the scope of the regulation, except for loans secured by real estate or a purchase-money loan, including a loan to finance the purchase of a vehicle.
The process and the rule considered carefully input from many sources, and takes a balanced approach that preserves access to credit and allows for effective industry compliance. To assist industry in complying with the MLA, the new rule will go into effect Oct. 1, 2015, and have a staggered compliance dates.

This rule will help protect all active duty service members and their families from committing to loans with excessive fees and charges. Additionally, service members will still have access to no-interest loans, grants, and scholarships from the four military relief societies, and not all credit products will be affected by the regulation; notably residential mortgages and purchase-money loans (to buy items like cars) are excluded from the MLA’s definition of “consumer credit.”

Congress passed the Military Lending Act (MLA) in 2006 with bipartisan support to provide specific protections for active duty service members and their dependents in consumer credit transactions. The MLA caps the interest rate on covered loans to active duty service members at 36 percent; requires disclosures to alert service members to their rights; and, it prohibits creditors from requiring a service member to submit to arbitration in the event of a dispute, among many other protections. Congress took these steps to protect service members and their families from predatory lending which negatively impacts military readiness and can make transitioning from the military service significantly more challenging.

The department asked the public for their perspective on changing the existing rule in June 2013, and published the proposed rule in the Federal Register for public comment Sept. 29, 2014.

In developing this rule, the department consulted with the Federal Trade Commission, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, the National Credit Union Administration, and the Treasury Department to develop the responsible protections found in the revised rule that preserve access to credit for service members and their families and protect their financial future.

For more information, visit http://www.defense.gov/.

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"

 

Brandywine Estates, Muskogee  -  Announcing a price reduction on 7220 W 32nd Street North, Muskogee, a 4,799 sq. ft., 3 bath, 4 bdrm 1 1/2 story. Now MLS $350,000 - New Price. Was $383.9k and now at $72 per sq.ft with 2.5 acres and walk down to the Arkansas river, or use horses at the Brandywine Stables.

Property information

Mortgage Rates Inch Lower Due to Global Uncertainty


Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing an investor flight to safety for U.S. Treasuries is pushing average fixed mortgage rates lower and helping to keep buyer activity strong toward the close of the spring homebuying season.

"Yields on Treasury securities declined this week in response to investor concerns about events in Greece and China,” says Sean Becketti, chief economist, Freddie Mac. “Mortgage rates fell as well, although not by as much as government bond yields. The rate on 30-year fixed-rate mortgages fell 4 basis points to 4.04 percent.

"Overseas volatility is likely to persist for some time, providing some restraint on potential U.S. rate increases. In addition, the minutes of the June meeting of the Federal Open Market Committee suggest the Federal Reserve will proceed cautiously -- monitoring events both overseas and in the U.S. to ascertain the appropriate moment to begin raising short-term interest rates. As a result, mortgage rates may remain in the neighborhood of 4 percent for a while."

The 30-year fixed-rate mortgage (FRM) averaged 4.04 percent with an average 0.6 point for the week ending July 9, 2015, down from the last week when it averaged 4.08 percent. A year ago at this time, the 30-year FRM averaged 4.15 percent.

Additionally, they 15-year FRM averaged 3.20 percent with an average 0.5 point, down from the week prior when it averaged 3.24 percent. A year ago at this time, the 15-year FRM averaged 3.24 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.93 percent with an average 0.4 point, down from the week earlier when it averaged 2.99 percent. A year ago, the 5-year ARM averaged 2.99 percent.

Results show that the 1-year Treasury-indexed ARM averaged 2.50 percent with an average 0.3 point, down from the last week when it averaged 2.52 percent. At this time last year, the 1-year ARM averaged 2.40 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"

IMG_003

• 3,137 sq. ft., 3 bath, 4 bdrm 1 1/2 story - MLS $265,000

 -  Wonderful corner lot split plan home with an additional 2nd level mother-in-law or teenager suite of bed, bath, living or gameroom. Lovely rear yard with decorative wrought iron fence, deck, fountain and new shed on concrete. New hardwoods in master suite. New sun room added 2014. A truly must see beautiful home.

Property information

1421040_1
Better Than New

• 2,954 sq. ft., 3 bath, 4 bdrm 1 1/2 story - MLS $269,999 - New Price

 -  Gorgeous, well upgraded, with a great more contemporary feel,. Cooks kitchen with granite, center isle and bar. Super floor plan, with a large open master suite. Light and with great views over open countryside behind the house. Close to neighborhood pool and play area.

Property information

1f9cecc5-6930-4fd9-ae49-7f61bcef8e66

• 2,381 sq. ft., 2 bath, 4 bdrm single story - MLS $272,000

 -  Wonderful 1 story contemporary home, with gorgeous stucco & stacked stone. Open plan kitchen & living with a wall of windows. Granite counters in kitchen, plus gleaming subway tile provide for a tranquil and soothing look. Over sized walk in pantry with plenty of shelves. Bed 4 can also be office if required. Marble master bath with raised height vanity. Additional winter storage facility added to master closet. closet. Vaulted ceilings abound in this better than new spacious home.

Property information

7 Common Closing Costs to Consider When Purchasing a Home

By Keith Loria


Purchasing a home is an expensive proposition, but for many buyers, the realization that a host of closing costs need to be paid before the sale can go through is often a concern when it comes to ensuring there’s enough money set aside to go through with the transaction.

In simple terms, closing costs are the fees associated with the acquisition of one’s new home that have nothing to do with the final sale price. These costs are in addition to the actual purchase price and include everything from legal fees to land transfer taxes to moving expenses.

To ensure no financial surprises pop up when it’s time to buy your home, here are some of the most common closing costs that need to be considered.

1. Legal Fees. A real estate lawyer will be needed to assist you in drafting the deed, preparing the mortgage and conducting various searches related to the property. While the cost of a lawyer varies, you can expect to pay at least $1,000 for their services.

2. Title Insurance. Almost all lenders require that a homebuyer purchase title insurance to protect against losses in the event of a property/ownership dispute. Title insurance is basically an insurance policy that protects the homeowner from problems related to the title to their home, such as title fraud, un-discharged liens, zoning issues and survey problems. Homebuyers can expect to pay between $150 - $400 for title insurance at closing.

3. Interest Adjustments. Unless you’re purchasing a home on the first of the month, odds are your mortgage payment won’t be due until the following month. However, you’ll still be required to pay interest on the mortgage up to the first theoretical payment date at closing. It’s important to ask your mortgage lender how your IAD (interest adjustment date) is calculated so you’re prepared for this closing cost.

4. Prepaid Utilities Adjustments. A buyer must also reimburse the previous owner for any utility payments they may have already paid for the upcoming year. While this means you won’t have to pay for these utilities yourself for a while, it’ll add to the closing cost pile and can run hundreds of dollars.

5. Property Appraisal. Some lenders require an independent appraisal be done before the final papers are signed, and this is usually paid as part of the closing documents. This is necessary because the lender wants to ensure that the property is valued correctly. Most appraisals generally run $150 to $350, but the location of the property will play a role in the final price.

6. Property Survey. A land or property survey is a legally written and/or mapped description of the location and dimensions of the land that you’re acquiring. This is another requirement of a lender and is necessary for any transfer of ownership. A property survey will reflect all dimensions of the house and include anything that was added since the house was originally built, such as a new addition, deck, fence or pool. It can also point out any encroachments, such as a neighbor’s fence. This will generally run somewhere between $500 and $1,000.

7. Down Payment. The most important closing cost of all, the down payment can be anything you’ve negotiated with the seller and your mortgage lender, but typically falls around 20 percent of the purchase price. If you’re selling a home as well, and the deal hasn’t been finalized, you may need to acquire bridge financing. This will cover the cost of the down payment for a short period of time, with only interest to be paid at closing. Otherwise, prepare to buy your new home with whatever money you’ve been saving.

For more information about closing costs, 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"

 

 

e621b7f4-c74e-417c-8e5e-a7e295b65a0c

• 2,199 sq. ft., 2 bath, 3 bdrm single story - MLS $194,500

 -  Peace & tranquility in a wonderful setting, just awaiting you to relax on the secluded deck and contemplate. Immaculate home! Updates include baths & toilets; 2014 HVAC condenser coil; HWH w/expansion tank for BA code requirements Dec 2012; Septic pumped & serviced; HVAC ducts cleaned; garage door insulated & new springs installed 2013; fireplace serviced 2013; new front door; locks; exterior paint; guttering & deck.

Property information

Up for Grabs: The Nevada Lakeside Retreat from 'The Bodyguard'

By Nick Caruso


Everyone remembers “The Bodyguard” as the Whitney Houston movie where she sang a cover version of that Dolly Parton song. It’s also the ’90s movie in which Kevin Costner danced with Houston instead of a pack of wolves. Thanks to all of this deliciousness, (and the power of its soundtrack and heartbreaking finale), the film went on to become the second highest-grossing film worldwide in 1992, earning $411 million at the box office.

The rustic home on Lake Tahoe’s Fallen Leaf Lake (where Houston’s character, Rachel Marron, was hiding out from her stalker) is now for sale. Known as the Tallac House, it oozes ambiance and warmth from its 76-foot dock where Costner dove into the icy winter water to save Rachel’s son from an exploding boat. The home is all wood—no sheetrock used—and was also seen in the film (Nic Cage alert!) “City of Angels.”

With 197 feet of Fallen Leaf Lake frontage on 2.74 secluded acres, the house has over 3,000 square feet with five bedrooms, including three bunk rooms, three baths, balconies, a huge deck and views of the lake and Tallac Mountain from every room. Built in 1970 in collaboration with noted local architect Paul Hamilton, the property has stayed in the family since its inception, making this the first time it has been offered for sale. A perfect vacation retreat or full-time home that’s ideal for entertaining, the home has vaulted ceilings accented by a massive rock fireplace, a three-car garage and the famed pier perfect for all types of water sports.

Listed for: $7.995 million

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" 

 

a9cc8ac2-cc63-4fd6-bcab-edd893eb2e8f

• 1,539 sq. ft., 2 bath, 3 bdrm single story - MLS $126,000

 -  Super spacious 1 story, corner lot home. Garage converted to additional 2 rooms - office and/or gameroom and storage area. Good floor plan and stainless steel appliances in kitchen. Large chalet in rear yard.

Property information

Boost Curb Appeal in a Day

Contributed by Jessica Kyriakos


Sometimes when planning to sell a house, in the name of renovating interior living spaces, updating bathrooms, replacing appliances and adding decorative touches throughout the bedrooms, homeowners leave outdoor curb appeal as a last priority. While of course the inside of a home is important, sellers make a big mistake when they neglect the exterior. Why is a home’s exterior so important? Consider this: Curb appeal is often a potential buyer’s first impression of a home, the very thing that helps him/her decide whether or not to come inside. Whether they’re shopping online or by cruising through neighborhoods, the outside of your property is the first thing they’ll notice. If you’re selling your home or about to, how can you quickly and effectively tackle the outdoor appeal? Here are some key tips for boosting the curb appeal in a way that means quick turnaround and increased home value:

1. Start with the Front Door. Believe it or not, your home’s front door can be one of its most important assets. A new steel entry door consistently ranks as one of the most rewarding projects in home repairs, yielding an increase in home value that’s greater than the costs to install one. Likewise, to make the door especially captivating, consider painting it a bold, pleasing color that will grab attention and add charm. When buyers see a new door that looks attractive, they see another asset that makes your home the one to buy.

2. Make Any Necessary Repairs. Is the driveway cracked or the front doorbell busted? Now is the time to call a repair company or get out your own toolbox to make repairs. Buyers want turnkey, move-in-properties, and that means they want properties with repairs already done. Do the work now to get your home in ship-shape condition.

3. Keep Up with Landscaping. From mowing the lawn to pulling weeds, make sure you’re keeping up with your outdoor landscaping so that your home looks presentable and well cared for at all times. Overgrown bushes and dying plants are a surefire signal to potential buyers that you’re not caring for your home and leaving more maintenance for them to handle.

4. Add Lighting. While most buyers will come visit your home during the daytime, it’s not at all unusual for the most interested ones to also drive by at night to see what nighttime curb appeal is like. Landscape lighting can make all the difference in terms of how a home looks, so make an investment in attractive lighting options that illuminate and add interest to your property. “Solar landscaping lights are a great addition to any yard because they don’t require complicated and expensive wiring,” says Bob Vila. “Remember, though, you get what you pay for—cheap lights won’t last as long and simply won’t look as good.”

5. Touch Up Paint. A fresh coat of paint is just as powerful outside as it is inside, so to update your home’s look, repaint the exterior or at least touch up problem areas. Another idea is to paint the trim a new color that creates either a nice complement or contrast to your home’s overall look.

6. Make Over the Mailbox. You might not think a mailbox matters much, but it’s yet another one of those little details that can add up together to make a strong impression on a buyer.

7. Add Outdoor Furniture. From rocking chairs on the front porch to an outdoor patio set on the back deck, outdoor furniture creates outdoor living spaces that expand your home’s appeal. Look for attractive, durable pieces that will endure weather damage and look good for years to come — whether or not you include these pieces with the home sale, setting them up is a great way to stage your home for greater resale value.

The bottom line when it comes to curb appeal is that a little investment today can add up to big rewards tomorrow. Take the time to update, clean, repair and add value to your property’s exterior now and you will make it more attractive to buyers, not to mention more beautiful to come home to. Use the tips above to get started now.

Jessica Kyriakos is Brand Manager of Superior Site Amenities in McAlester, Okla. She has worked in the site furnishing industry for more than 15 years.

This post was originally published on RISMedia's blog, Housecall. Check the blog daily for winning real estate tips and trends for you and your clients.

 

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" 

Spring Lake, Sand Springs  -  Announcing a price reduction on 4106 S 137th West Ave, a 4,338 sq. ft., 3 bath, 4 bdrm 1 3/4 story. Now MLS $415,000 - Great New Price. Originally $465k.

Property information

It's Business As Usual for Interest Rates

By Suzanne De Vita


Prospective homebuyers may see a few more weeks of near-zero mortgage rates following news that the Federal Reserve will maintain its current interest rate policy. Economists have long anticipated a rate change in September of this year.

“The (Federal Open Market) Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its two percent objective over the medium term,” the Fed statement read.

Though the Fed does not set mortgage rates, its actions tend to impact those that do. After the unexpected employment gain in May, 30-year-fixed mortgage rates rose to 4.04 percent, marking the first week since November of last year that rates topped four percent.

“The housing market can handle interest rates well above four percent as long as inventory improves to slow price growth and underwriting standards ease to normal levels so that qualified buyers–especially first-time buyers–are able to obtain a mortgage,” says Lawrence Yun, chief economist of the National Association of REALTORS®, in a recent market update.

“You may see a 4.5 percent conventional interest rate by the end of the year,” opines Joe Petrowsky of Right Trac Financial Group in Manchester, Conn. “If the true employment numbers improve, rates should move up, but based on our current economy, it would be a bad move on the part of the Fed to raise rates. My sense is the Fed will attempt to raise rates throughout this year.”

In the interim, borrowers may choose to lock in a lower rate by timing the lock period with the projected closing date of sale.

This post was originally published on RISMedia's blog, Housecall. Check the blog daily for winning real estate tips and trends for you and your client.

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" 

Top 10 Ways to Prep for a Remodel


Proper planning is essential before beginning a remodel, and may be the most critical step in the process, says the National Association of the Remodeling Industry (NARI). To prepare for the project, NARI shares the top 10 steps you should take before breaking ground on your next remodel.

1. Research your project. Taking time to research projects will provide a good sense of what is involved such as price, scope of work, return on investment and new product and material options. It is also a good idea to research property values in your neighborhood to make sure your project is in line with other homes in the area.

2. Plan project around the long-term.
How long do you plan to stay in your home? How might your family structure change over time? Life can change quickly, so these questions should be answered early on to ensure your project will fit your lifestyle long after it is complete.

3. Set your budget. Deciding on a realistic budget and arranging finances to support your project are essential. This number needs to include everything: the project, products, contingencies, etc. Don’t be afraid to share this with your remodeler; professionals are respectful of a client’s budget and will create a plan around it, not over it.

4. Use advanced search for professionals. The online world makes it easy to gather information about strangers. Ask friends, family and neighbors for referrals and then spend time researching that person online. Professional remodelers take their reputation seriously and hold credentials beyond licensing, such as certifications, memberships in trade associations and additional training. Look for examples of press coverage or involvement in industry presentations or events. Check online reviews and social media to see how they interact with past clients and peers.

5. Ask the right questions.
Time and cost are important, but getting the right information requires the right questions. Ask your professional remodeler about his or her educational background, training, specialties or past issues with clients. Ask about how the remodeling process will work.

6. Verify your remodeler.
Don’t take their word for it. Check the information given to you such as references, license numbers, insurance information and certifications by calling providers to verify. Request a visit to an active client’s jobsite. Make it known that you are checking on him; a true professional considers that as a positive sign to working with a homeowner.

7. Review contracts word-by-word. A remodeling contract protects you and your remodeler. Homeowners should review this carefully. Professional remodelers have done this before, and know what should go in a contract. Homeowners are not as familiar with remodeling and should ask about terms if they don’t understand. Pay attention to details about change orders, payment, additional fees, timeline and responsibilities. If it is not in the contract, it doesn’t exist.

8. Keep design in mind. Your design guides the entire project. Think about what you dislike about your current space and the intended use of the new space. Use Websites such as Pinterest.com and Houzz.com to gather design ideas. Make sure you can articulate specifically what you like about that design when talking to your designer. Professionals don’t recreate a photo – they incorporate accessibility, functionality, ease of modification, style and value into your design.

9. Make your selections. Deciding on products and materials is a larger process than most imagine. With so many options to choose from, product selections are one of the primary reasons for project timelines to get extended. Base decisions on quality, function, price, style and availability. Include selections in the contract to lock down pricing and keep your budget intact.

10. Create a communication plan. A common downfall in remodeling is lack of communication between homeowners and remodelers. Your remodeler should lay out a communication plan at the beginning of the project. If not, ask them to do so. This plan should clarify roles of everyone involved, communication methods, availability, and frequency of communication that is expected.

Source: NARI

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" 

More Posts Next page »