The Village, Oklahoma County  -  We invite everyone to visit our open house at 10121 S. 77th E. Place Tulsa OK on December 11 from 1:30 PM to 3:30 PM.

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A pristine single story home with 3 divine patios, situated in a wonderful gated community. 

Pond View

• 4,120 sq. ft., 4 bath, 4 bdrm single story - MLS® $409,000

Jenks, Tulsa County  -  Super floor plan. Three beds on 1st level all with private en-suite granite bathrooms. Granite powder bath. Spacious, double height entryway, bull nose corners, granite kitchen, Stainless Steel appliances. Great office with ornate ceiling. The large master suite, has a new custom bath. Elegant formal living and dining with vaulted ceilings. Lovely pond view on large un-overlooked lot.

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• 4,120 sq. ft., 5 bath, 4 bdrm 1 1/2 story "1 bed, bath and gameroom up" - MLS® $409,000

Wakefield Village, Jenks  -  Attractive country French design. Spacious, 3 beds down with private bathrooms, huge master suite with remodeled master bath, lovely vaulted and beamed ceilings, lots of windows, cooks kitchen, granite countertops throughout home, newer paint, some newer carpet. Roof 2011. Stylish hardwoods. Large game room on 2nd level.Dedicated office with built in bookcases and paneled ceiling. Oversized garage with work area. Huge yard will fit a pool. Living, office and yard has lovely views of the pond. Move-in Ready. For lease or sale

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• 1,594 sq. ft., 2 bath, 3 bdrm single story -

Sunwood Hills, Tulsa

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• 2,054 sq. ft., 2 bath, 4 bdrm single story - MLS® $149,900

Woodland View Park I, Tulsa  -  Immaculate, updated to perfection, just bring your furniture! Newer HVAC, appliances, window treatment, lighting, granite,cabinetry,total kitchen remodel, total baths remodel, has everything has too much to list. Very spacious indeed!

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Georgous Home

• 2 bath, 3 bdrm single story - MLS® $339,900

The Village, Oklahoma County  -  Georgous 1 story home in immaculate condition located in a private gated community. Wonderful open floor plan with vaulted ceiling in the living that possesses an exquisite cast stone fireplace and over mantle. Beamed den opens to the granite counter kitchen that is equipped with a center isle. Abundance of French doors throughout with plantation shutters on both the doors and windows. Three separate patios

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• 2,909 sq. ft., 4 bath, 4 bdrm 2 story - MLS® $239,900

Pecan Ridge East, Broken Arrow  -  Gorgeous Home! Vaulted great room has fireplace - heats Dining & Master Suite. Energy efficient & low maintenance. Spacious Kitchen overlooking pasture in rear. Large Master Suite with bonus room. Heated shop or 4th car garage & carport w/ bar joist - a workman's dream. Exercise gym area and wth a full bath!

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It is so hard for buyers to work out what they should offer a seller for their home. There is a plethora of information on the internet to review. Buyer demand, seller home supply, mortgage interest up or down, short sales, REO’s, etc. It is overwhelming. That said, there are a few things that are a must for consideration if you are to succeed. A low ball offer to buy is of no value if you are not successful. All these general hurdles are applicable to the seller as well as a buyer in establishing a price to list the home for sale.

a)     What are the values of comparable homes? This is where the experienced realtor for the buyer or seller will glean the correct information to ascertain a value. It must be remembered, not all homes are equal even if they are in the same neighborhood and have the same number of beds & baths etc. Condition is a major key here, especially if there is a glut of foreclosures that have sold. The condition of these homes can be sub-par when compared to a normal home for sale. A seller may feel their home is higher priced because they took out a 2^nd mortgage some time ago based on a re-finance appraisal. The outstanding pay off amount has no bearing on the home’s value today. This is the time for buyer who believes that the price should be say $50k lower based on past values of when the market was at its lowest in 2009 needs to realize it will not work.

b)    If you are a buyer, what mortgage amount can you borrow and how much can you pony up for the down payment. It is imperative that any offer price for the home is within an area of affordability for a buyer. This is notwithstanding the additional costs of property taxes, HOA fees, repair & updating costs.

c)     What competition will you face  as a buyer or seller. Sellers should consult with the realtor professional regarding the volume of available homes in your vicinity and don’t forget their condition. A glut may mean a lower listing price to attract possible buyers. For buyers, believe it or not, sometimes there are multiple offers on homes with agreed sale price being above list price. A good home will be a sought after item when compared to un-kept foreclosure homes requiring much work. Hence a higher price may be warranted due to the competition of other buyers. If there are multiple offers the buyers may all be requested to place forward their best & final offer for the seller to review. The amount of time a home has been on the market when compared to other homes, is an indicator for a buyer, but in the present market many homes may have multiple listings before being sold, so is not so uncommon now.

d)    With a slower market, buyers can take their time going through the buying process, but what is their level of motivation to buy, just as what is the volume of motivation for the seller to sell. Irrespective of all the marketing avenues of the internet and in newsprint, the tool with the most impressive power is the property listing price. If you are desperate to sell, then the way to motivate buyers is to have an assertive low price, taking account of your local market. This way it has a chance of standing out in the crowd. Buyers motivation should not lead to an over bid in the offer to buy, unless of course you are a cash buyer. If you need a mortgage to buy, paying over market value may mean the mortgage is not supported by the lender unless the buyer ponies up the additional $ between the appraisal price and the contract price. If this is a home you really must have then it may be the only way to buy it, if there is other buyer competition.  

Wonderful Home Backs To Green Belt

• 4,120 sq. ft., 3.5 bath, 4 bdrm former model home - MLS® $587,000

Tanglewood is a small select neighborhood of only 45 custom homes. Homes here range from the low-mid $500's to over $1 million. Some homes back to the green belt and there is the benefit on a residents preserve in the center of the subdivision, plus close and easy access to the bike & walking trails. Jenks schools with an east Jenks/south Tulsa location that is not overwhelmed like the massive neighborhoods of Wind River, Waterstone etc. If you are looking for peace and tranquility in south Tulsa, then look no further than 9407 S. Jamestown Ave 74137.

This area is located south & east of 91st & Harvard and as such has very minimal traffic because Harvard dead ends into Crowne Point subdivision. Because of this there will be no road widening as we have seen at 91st & Yale.

 Tanglewood, Tulsa  -  Outstanding former Builder's Model home with a dramatic double height entrance hall. Elegant 24" cross cut Travertine floors, gourmet kitchen with hand glazed cabinets and beautiful granite counters. Stainless appliances, butler’s pantry and center kitchen isle. Huge breakfast bar open to vaulted den with cedar beams and a raised antique fireplace. Cut stone fireplace in living with contemporary broken mirrored glass gas feature. living with windows overlooking view of treed area to rear of yard and patio. Large master suite with exotic whirlpool tub and separate fully tiled shower. New in last few years - wetbar in game room, redesigned front elevation, extensive custom cabinetry in garage, roof, cupola, & guttering.

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The clear answer to these two questions are resoundingly, Yes & Yes.

This week interest rates reached an all time low for the past 15 years.

So what does this mean for both Buyer's & Seller's.

For the Buyer, you can now get a 30 year fixed rate mortgage (FRM) for 4.32%. It was over 5% this time last year. A 15-year FRM this week averaged a record low of 3.83% and this is down from over 4.5% at this time last year.

Home prices increased 2.3% between the first & second quarters of this year, showing some stability in the housing market.

So for Tulsa home Buyer's mortgages loans are extremely inexpensive at this time which will keep monthly payments lower than usual. Don't forget credit scores effect the borrowing interest rate given you by lenders.

Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of Realtors®.

Existing home sales dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million in June, and are 25.5 percent below the 5.14 million-unit level in July 2009.

Sales are at the lowest level since the total existing-home sales series launched in 1999, and single family sales – accounting for the bulk of transactions – are at the lowest level since May of 1995."

So with such sad news, how do you intend to get your home sold in this market?

Poor condition and high price may have been overlooked in past well supported home sale markets, but this will not "cut it now." Many buyers believe that is is a buyer's market and to some extent that is true, but dependant on your specific market place. Tulsa is slowly bringing up the rear of the downtrodden areas of the east & west cost that have been hit hard over the past few years. It has taken much longer for the poor market to catch up to us here in NE Oklahoma.

Exquiste Corner Lot Pool Home

• 4,573 sq. ft., 4 bath, 4 bdrm 1 1/2 story - MLS® $739,000

Tanglewood, Tulsa  -  Outstanding home in select custom home neighborhood of Tanglewood Estates consisting of only 45 homes. A great location overlooking the preserve greenbelt area. Gourmet kitchen, double oven and professional gas range set in granite. Wine cooler and large center isle. Lovely hardwoods and vaulted ceilings, spacious bedrooms and bathrooms, 1st floor office could be additional suite with own full bathroom. Well designed home with 3 car side entry garage coupled with a fabulous Vivian pool in a secluded yard setting.

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This is a small prestidgeous neighborhood just south of 91st & Harvard. As Harvard "dead ends" into Crown Point there is no major through traffic, unlike Yale Ave etc.

The custom homes here range from the mid $500k's through to over $1 million. Unlike larger south Tulsa neighborhoods like Wind River & Waterstone, traffic is minimal in the Tanglewood Estates, plus no through traffic.Many homes here back to greenbelt, plus there is a preserve in the center for use by the residents.  The last sale this year here was at $950,000.

Tanglewood, Tulsa  -  Announcing a price reduction on 3422 E. 94th Street, a 4,573 sq. ft., 4 bath, 4 bdrm 1 1/2 story. Now MLS® $739,000 - .

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The Senate has reached a compromise on extending and expanding the $8,000 tax credit for first-time home buyers, a boost the housing industry believes will help it pull out of its two-year-old downturn. 

While its passage remains uncertain, the agreement would extend the existing credit for first-time homebuyers, worth up to $8,000, while offering a new credit of up to $6,500 for some existing homeowners, Senate aides said. The reduced credit would be available to all homebuyers who have been in their current residence for a consecutive five-year period in the past eight years. Lawmakers in Washington also raised the qualifying income limits to $125,000 for single taxpayers and $250,000 for joint taxpayers, from the current $75,000 and $150,000, housing-industry sources said. Under the Senate compromise, buyers must have sales agreements in hand by April 30, but they will have until June 30 to go to settlement, said the sources. The measure still faces votes in the full Senate and the House. 

Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan are in full support of the Senate’s proposal to both extend and expand the first-time homebuyer tax credit and called on Congress to approve key housing measures that include the tax credit. “We welcome efforts taken by Congress to extend the First-Time Homebuyer Tax Credit for a limited period. This credit has brought new families into the housing market and contributed to three consecutive months of rising home prices nationwide,” said Secretaries Geithner and Donovan. “In extending the credit, we urge Congress to include strict measures to combat tax fraud and protect responsible homeowners.” 

The current tax credit did little for the new-home market in September, the Commerce Department recently reported—news that took many industry analysts by surprise. Sales fell 3.6% from August and 7.8% from September 2008. Industry observers had expected a fifth consecutive monthly increase in new-home sales, believing that the tax incentive for qualified first-time buyers—credited with 357,000 sales of previously owned homes so far this year—would do the trick. Instead, sales of typically more expensive newly built houses slipped. “The decline in new-home sales seems to us to be more a function of the attractive pricing available on resales in the current environment than a reflection of weakening demand,” said Michael Feder, president of Radar Logic in New York, which tracks the market. 

“Since hitting rock bottom in March, demand is up 20 percent,” said Joel L. Naroff of Naroff Economic Advisers in Holland, Pa. For Naroff, the robust rise in existing-home purchases—9.2% year over year in September—indicated that the housing market was not faltering. “Maybe the issue is supply, which fell to its lowest level in 27 years,” he said. “Builders, at least those left standing, have been making sure they don’t have any houses sitting around, and they have been very successful in controlling inventories.” 

The new provisions are aimed at broadening availability of the credit beyond first-time buyers and giving the weakened real estate market a bigger boost while preventing real estate investors from benefitting. While Senate lawmakers appear to have reached a deal on the substance of the tax credit, they are still at odds over how it would be brought to the Senate floor. 

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Beautiful Land Opportunity

•  lot / land - MLS® $500,000

Oak Grove, Broken Arrow  -  Great piece of land, lots of dogwoods for beauty & shade. Creek runs through the property on north east. Land fronts both 61st Street & 273rd E. Ave. All utilities available.

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