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Tulsa Real Estate For Sale and Information Updates

Tulsa Real Estate For Sale and Information Updates

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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.

Sell Quickly with Master Suite Upgrades

Sell Quickly with Master Suite Upgrades


(BPT) - All signs point to a recovering real estate market. Experts say more inventory will be available and buyers will have an easier time getting mortgages, all of which means more competition among sellers.

If you plan to put your home on the market this season, you might be looking for the most cost-effective renovations to set your house apart from the competition. Assuming you've already taken care of the two top rooms to renovate - kitchen and bathroom - what's your next move?

Three words: master suite upgrades.

Americans spend a lot of time in the bedroom. The master suite is, arguably, the area of the house where you most want to feel like the king or queen of your domain. After you've wowed potential buyers with a great kitchen and bathroom, a beautiful master suite could be the feature that seals the deal.

A mid-range master suite addition recoups 67.5 percent of its cost at the time of resale, according to Remodeling Magazine's Cost vs. Value Report. Fortunately, you can create a big impact on a master suite with a modest remodeling budget.

Many masters occupy the second floor, making them prime locations for an upgrade that is attention-grabbing, energy-efficient and practical, all without being costly: skylights.

Natural light and fresh air can make a room feel larger, more open and more welcoming. Opening a wall to add a window is rarely practical, but skylights can bring natural light and improve air quality in a master with less fuss. If yours is on the first floor, tubular skylights can deliver natural light into spots where a traditional skylight won't work.

For your second-floor master, an ENERGY STAR-certified solar-powered, fresh-air skylight provides daylight, privacy and more security than an open window (always a concern for a bedroom), as well as cost-effective passive ventilation. Add solar-powered blinds and skylight energy performance ratings improve by as much as 45 percent. Even better, the installation of solar-powered skylights and blinds, plus installation costs, can be eligible for a 30 percent federal tax credit.

Often, sellers focus on big-picture issues and overlook the small details that win buyers' hearts. For example, while it's important to paint the walls a neutral, appealing color, don't forget to repaint baseboards, window trim, ceilings and inside closets, too - all significantly affect the overall look of a room.

Be sure to repaint the master bathroom in a color that complements the master bedroom. Add decadent but cost-effective touches like plush towels, a towel-warming rack and an upgraded shower head and faucets. Consider the shower door. Is it old and shabby-looking with glass that has become hazy? Replacing it is a simple, quick fix that will put a bright face on the shower stall. Swap out a straight shower curtain rod for a curved one that greatly increases the spaciousness of the shower area.

Add light, airy curtains to make the room look bigger and brighter, luxurious bedding to impart a restful atmosphere, and you'll have created a master suite that's sure to be an asset when it's time to sell.

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 Liberty Towers

1 copy

• 624 sq. ft., 1 bath, 1 bdrm single story - MLS $84,500

 -  A very pristine and updated throughout unit. Gorgeous bamboo flooring, granite counters, tiled bathroom Also has a separate storage unit in building. Great west views of river..

Property information

Single Story For Sale in Eastborough

1421188_1

• 1,381 sq. ft., 2 bath, 3 bdrm single story - MLS $104,000

 -  Super home and like brand new insude and completely updated throughout. New textured wall finishes, bathroom fittings, toilets, tile, carpets. Large kitchen/dining room with granite breakfast bar. Also a large covered rear deck.

Property information

1 1/2 Story For Sale in Oxford Court

1421040_1
Better Than New

• 2,954 sq. ft., 3 bath, 4 bdrm 1 1/2 story - MLS $285,000

 -  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

Contract Rate on New Home Loans Dips Under 4 Percent

Contract Rate on New Home Loans Dips Under 4 Percent


On average, mortgage interest rates declined in May, according to data released recently by the Federal Housing Finance Agency (FHFA). On conventional mortgages used to purchase newly-built homes, the average contract interest rate dropped by more than 30 basis points, from 4.19 to 3.88 percent. This is the lowest the new home loan rate has been in a year and the first time it has dipped below 4.0 percent since February.

Initial fees increased slightly during the month, from 1.22 to 1.25 percent—far from enough to offset the decline in the contract rate. The result was an average effective rate on new home loans (which amortizes initial fees over the estimated life of the loan) that also dropped by more than 30 basis points, staying barely above 4.0 percent (at 4.01).

Reversing the trend of the prior two months, the average size of conventional mortgages used to purchase new homes—and the price of the new homes purchased with the mortgages—both declined in May. The average loan size declined 1.8 percent to $319,800, while the average home price fell by 3.6 percent to $418,800. Despite the declines, both the average loan size and average new home price remain higher than they had been at any time prior to 2014.

Because the change in price was greater than the change in loan size, the average loan-to-price ratio on conventional mortgages used to purchase new homes increased substantially in May, from 77.0 to 78.6 percent—the highest it’s been since last August, and the first time above 78.0 percent in 2014.

This information is based on FHFA’s Monthly Interest Rate Survey (MIRS) of loans closed during the last five working days in May. For other details about the survey, see the technical note at the end of FHFA’s June 26 news release.

View this original post on the NAHB blog, Eye on Housing.

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" 

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