FHA Tightens Guidelines on Short Sales
December 23, 2009
The Federal Housing Administration has tightened its guidelines on short sales so that borrowers who defaulted on their previous mortgages can't get a new FHA-insured loan. The new guidance is designed to prevent borrowers who want to take advantage of the decline in house prices to buy a new home at a reduced price using an FHA loan for doing so. "Borrowers in default on their mortgage at the time of a short sale (or pre-foreclosure sale) are not eligible for a new FHA-insured mortgage for three years," FHA says in a mortgagee letter. The new policy has been causing problems for some lenders with loans in the pipeline, according to Bud Carter, an FHA consultant with Potomac Partners in Washington. In general, FHA will not approve loans if the borrower has defaulted within the past three years. However, FHA never provided specific instructions on short sales, Mr. Carter said, so lenders were dealing with this issue on a "case-by-case basis." Mortgagee Letter 09-52 also addresses cases where a lender takes a principal writedown and refinances the borrower into an FHA-insured mortgage. The agency clarifies that the borrower has to be current on all their payments to qualify for an FHA refinancing.Dan Perreira
Branch Mgr at Allied Home Mortgage
Wednesday, December 30, 2009
Tuesday, December 29, 2009
Should I Take My Home Off the Market During the Holidays?
Should I Take My Home Off the Market During the Holidays?
When you look at your calendar you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken.
It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may find your efforts unrewarded with not enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will have better momentum after the holidays. Better to just pack it in and start fresh in January, right?
But wait! Most top Realtors agree that taking your home off the market during the Christmas season is a mistake. The house surely isn't going to sell off the market! What is the advantage of that? So you're busy. Let your Realtor do the work. You can leave in the morning, go to work, go shopping, and let your Realtor take care of things.
The holidays are a wonderful selling period. Why? Because most people take off work sometime during the season. The husband and wife are both off and want to see houses. Most agents like the holidays because the buyers have more time, and they can look at homes together.
Before you take your home off the market, consider the following points:
Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Agents believe the home market is no more affected at Christmas than during other "busy" periods. If that were so, the market would shut down throughout the year as families concentrate on spring weddings, June graduations, summer vacations, and autumn back-to-school activities.
Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn't a consideration. Finding the right home at the right price, however, is.
Relocating families often don't have a choice when they can leave for their new destination. Although 68% of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in before either the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year's Eve, the timing couldn't be more perfect.
At Christmas time, our culture focuses on family and the home. Preparing for the indoor activities of winter is one of the most enjoyable periods of family life. Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.
When is your home ever more beautiful and inviting? You have cleaned and decorated, and your home looks like a picture postcard. If the results are good enough for family and friends, they will surely be good enough to impress your buyers. Get the family team on board to do a five-minute blitz pick-up every morning to keep holiday messes to a minimum.
With many motivated buyers in the marketplace, you may find you have more showings than you would if you sold your home during a busier time of the year.
If you do get a contract, you can arrange the terms to suit your needs. If moving during the holidays isn't an option, you can put in the closing date of your choice. Most people can close 30 to 60 days after a contract is written, so there is plenty of time. Possession and closings are very negotiable.
Written by Blanche Evans
When you look at your calendar you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken.
It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may find your efforts unrewarded with not enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will have better momentum after the holidays. Better to just pack it in and start fresh in January, right?
But wait! Most top Realtors agree that taking your home off the market during the Christmas season is a mistake. The house surely isn't going to sell off the market! What is the advantage of that? So you're busy. Let your Realtor do the work. You can leave in the morning, go to work, go shopping, and let your Realtor take care of things.
The holidays are a wonderful selling period. Why? Because most people take off work sometime during the season. The husband and wife are both off and want to see houses. Most agents like the holidays because the buyers have more time, and they can look at homes together.
Before you take your home off the market, consider the following points:
Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Agents believe the home market is no more affected at Christmas than during other "busy" periods. If that were so, the market would shut down throughout the year as families concentrate on spring weddings, June graduations, summer vacations, and autumn back-to-school activities.
Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn't a consideration. Finding the right home at the right price, however, is.
Relocating families often don't have a choice when they can leave for their new destination. Although 68% of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in before either the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year's Eve, the timing couldn't be more perfect.
At Christmas time, our culture focuses on family and the home. Preparing for the indoor activities of winter is one of the most enjoyable periods of family life. Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.
When is your home ever more beautiful and inviting? You have cleaned and decorated, and your home looks like a picture postcard. If the results are good enough for family and friends, they will surely be good enough to impress your buyers. Get the family team on board to do a five-minute blitz pick-up every morning to keep holiday messes to a minimum.
With many motivated buyers in the marketplace, you may find you have more showings than you would if you sold your home during a busier time of the year.
If you do get a contract, you can arrange the terms to suit your needs. If moving during the holidays isn't an option, you can put in the closing date of your choice. Most people can close 30 to 60 days after a contract is written, so there is plenty of time. Possession and closings are very negotiable.
Written by Blanche Evans
Monday, December 7, 2009
Selling a Home and Need to Move, Edmond here is help.
Heidi,
Thank you for taking the time to speak with me recently and giving me the opportunity to inform you of our company.
A-1 Freeman Moving Group has been at the forefront of the moving industry since 1974, growing to be the one of the largest agents for North American Van Lines with 9 offices throughout Oklahoma, Texas and Georgia. Our corporate offices are here in Oklahoma City.
I contacted you to make you aware of our local services we offer. Because of our affiliation with North American Van Lines, people often discount us from the option of providing local moves by mistaking us for an “interstate only” moving company. This could not be farther from the truth. While we do service interstate moves everyday throughout the country, our “specialty” is local moving. Our local crew is equipped to offer Full Service moving including packing, crating sensitive pieces such as art, storage as well as unpacking after relocation. We also offer the same services for businesses moving to other locations.
Currently we are offering a program I would think would be especially interesting to your profession. I would like to introduce “Clear the Clutter”, a program to assist in staging homes during marketing. This unique program offers 3 months of storage at no charge to the client up to 3,000lbs of household goods. Individuals who are interested in this offer are only required to pay for labor to load and place the items in storage. Our minimum charge for this service will be $375.00. I believe most families in this market would be glad to not deal with finding a storage unit or more importantly finding the time to move their belongings themselves. I feel as though this program will benefit Realtors in general by having such a unique tool to offer prospective clients when confronting them with the task of de-cluttering. You no longer have to say this is what you need to do without an option as to how one should go about this process to better market their home.
I hope I can be of service to you and your clients and look forward to meeting with you in the coming weeks.
Sincerely,
Dusty Hutchison/Relocation Specialist/A-1 Freeman Moving Group
11517 North Broadway Extension/Oklahoma City, OK
800.654.9286 ext 209/Fax 405.751.2759
Thank you for taking the time to speak with me recently and giving me the opportunity to inform you of our company.
A-1 Freeman Moving Group has been at the forefront of the moving industry since 1974, growing to be the one of the largest agents for North American Van Lines with 9 offices throughout Oklahoma, Texas and Georgia. Our corporate offices are here in Oklahoma City.
I contacted you to make you aware of our local services we offer. Because of our affiliation with North American Van Lines, people often discount us from the option of providing local moves by mistaking us for an “interstate only” moving company. This could not be farther from the truth. While we do service interstate moves everyday throughout the country, our “specialty” is local moving. Our local crew is equipped to offer Full Service moving including packing, crating sensitive pieces such as art, storage as well as unpacking after relocation. We also offer the same services for businesses moving to other locations.
Currently we are offering a program I would think would be especially interesting to your profession. I would like to introduce “Clear the Clutter”, a program to assist in staging homes during marketing. This unique program offers 3 months of storage at no charge to the client up to 3,000lbs of household goods. Individuals who are interested in this offer are only required to pay for labor to load and place the items in storage. Our minimum charge for this service will be $375.00. I believe most families in this market would be glad to not deal with finding a storage unit or more importantly finding the time to move their belongings themselves. I feel as though this program will benefit Realtors in general by having such a unique tool to offer prospective clients when confronting them with the task of de-cluttering. You no longer have to say this is what you need to do without an option as to how one should go about this process to better market their home.
I hope I can be of service to you and your clients and look forward to meeting with you in the coming weeks.
Sincerely,
Dusty Hutchison/Relocation Specialist/A-1 Freeman Moving Group
11517 North Broadway Extension/Oklahoma City, OK
800.654.9286 ext 209/Fax 405.751.2759
Friday, December 4, 2009
Just listed Condo in NW OKC
Just listed $125,000 2180' with 3 beds, 2 full baths, two living areas, courtyard, deck and more. Two car garage with ample storage and workout/shop area. Call Heidi to see it 274-9210 to view www.RoseTeamHomes.com
Monday, October 19, 2009
This weeks Edmond Real estate news!
Some good economic news shows the economy is starting to recover and the Fed is buying less mortgage backed securities which means that rates have seen their lows…probably for a long, long time. A melt down in the stock market would give us a brief reprieve, but rates are headed up…BANK on it.
More importantly, for our buyers who need mortgages to buy homes, is the issue of disputed credit accounts. Since credit has tightened, there has been a proliferation of ‘Credit Repair’ companies. The standard practice is to dispute all accounts (whether the bad credit is correct or not) and hope to catch the creditor on a technicality and get the bad credit removed. NO MORE! NOW, Fannie and Freddie will NOT underwrite any loan that has trade lines reported as ‘disputed’. So, while credit repair might remove some of the bad accounts, if any of the trade lines still show up as disputed, YOUR BUYER can’t get a loan! Yep, my guess is that the credit card companies had better lobbyists than they credit repair people. So, BEFORE you send your buyers to credit repair, SEND THEM TO US. Credit repair is now VERY tricky and time consuming when it comes to getting a mortgage. Don’t loose a buyer by letting them go it alone.
STATE BOND MONEY HAS BEEN RESOLVED FOR FHA BUYERS! SORRY TO PUT THE CONCERN OUT THERE LAST WEEK, BUT THE BOND AUTHORITY HAS BEEN ABLE TO GET IT WORKED OUT, AND THE MORTGAGE CLOSERS & POST CLOSERS WILL HAVE A BIT MORE WORK. The Bond Money is moving so if you have a buyer that is interested in receiving this assistance they can possibly still get it, I recommend a 45 day contract which might put them past the November 30th close date, so they may not be able to get the tax credit.
Please give me a call if questions or if you need to have a buyer pre qualified for a Mortgage!!!
Make it A Great Weekend!!
Thank you,
Ted Clay
Sr. Loan Consultant
Office: 405-341-8644
Cell: 405-826-1320
tclay@wrstarkey.com
www.TedClay.com
More importantly, for our buyers who need mortgages to buy homes, is the issue of disputed credit accounts. Since credit has tightened, there has been a proliferation of ‘Credit Repair’ companies. The standard practice is to dispute all accounts (whether the bad credit is correct or not) and hope to catch the creditor on a technicality and get the bad credit removed. NO MORE! NOW, Fannie and Freddie will NOT underwrite any loan that has trade lines reported as ‘disputed’. So, while credit repair might remove some of the bad accounts, if any of the trade lines still show up as disputed, YOUR BUYER can’t get a loan! Yep, my guess is that the credit card companies had better lobbyists than they credit repair people. So, BEFORE you send your buyers to credit repair, SEND THEM TO US. Credit repair is now VERY tricky and time consuming when it comes to getting a mortgage. Don’t loose a buyer by letting them go it alone.
STATE BOND MONEY HAS BEEN RESOLVED FOR FHA BUYERS! SORRY TO PUT THE CONCERN OUT THERE LAST WEEK, BUT THE BOND AUTHORITY HAS BEEN ABLE TO GET IT WORKED OUT, AND THE MORTGAGE CLOSERS & POST CLOSERS WILL HAVE A BIT MORE WORK. The Bond Money is moving so if you have a buyer that is interested in receiving this assistance they can possibly still get it, I recommend a 45 day contract which might put them past the November 30th close date, so they may not be able to get the tax credit.
Please give me a call if questions or if you need to have a buyer pre qualified for a Mortgage!!!
Make it A Great Weekend!!
Thank you,
Ted Clay
Sr. Loan Consultant
Office: 405-341-8644
Cell: 405-826-1320
tclay@wrstarkey.com
www.TedClay.com
Friday, October 9, 2009
Important Lending Updates of Edmond Real Estate
DOOM AND GLOOM? YES, we are in the middle of a recovery and unemployment is high, but all the talking heads and nay-sayers in your offices seem to forget the good stuff – so here goes:
• New home sales have risen for five straight months.
• Existing home sales are up in four of the last five months.
• Construction of new homes increased for the third straight month in August.
• Home inventories down.
• Average home prices in the conforming price range are up for the 3rd month in a row.
• The Case-Shiller Index shows prices for homes in ALL price ranges in 18 of the top 20 cities up two months in a row, and up 3 months in a row in 15 of the largest 20 cities.
Why is this not important anymore? But there’s more….
• Last week’s economic data that showed a 30% drop in corporate layoffs vs last year.
• The ISM Manufacturing report shows that, although weaker than anticipated, we’ve had the second consecutive month of growth in the manufacturing sector.
• 90% of our workforce is working.
AND FINALLY
• With the slide in the dollar rates have dropped back to where they were last May – 4.75% to 5.25% depending on program and credit…
• AND with the low rates and lower home prices, NOW is the MOST AFFORDABLE TIME IN THE LAST 30 YEARS to buy a home. Tell you buyers to BUY NOW!
Yes, we have some bumps yet to go through, but don't forget the positive. Have a great weekend. Call me if your ready to buy or selling and get you talking to a reputable lender.
• New home sales have risen for five straight months.
• Existing home sales are up in four of the last five months.
• Construction of new homes increased for the third straight month in August.
• Home inventories down.
• Average home prices in the conforming price range are up for the 3rd month in a row.
• The Case-Shiller Index shows prices for homes in ALL price ranges in 18 of the top 20 cities up two months in a row, and up 3 months in a row in 15 of the largest 20 cities.
Why is this not important anymore? But there’s more….
• Last week’s economic data that showed a 30% drop in corporate layoffs vs last year.
• The ISM Manufacturing report shows that, although weaker than anticipated, we’ve had the second consecutive month of growth in the manufacturing sector.
• 90% of our workforce is working.
AND FINALLY
• With the slide in the dollar rates have dropped back to where they were last May – 4.75% to 5.25% depending on program and credit…
• AND with the low rates and lower home prices, NOW is the MOST AFFORDABLE TIME IN THE LAST 30 YEARS to buy a home. Tell you buyers to BUY NOW!
Yes, we have some bumps yet to go through, but don't forget the positive. Have a great weekend. Call me if your ready to buy or selling and get you talking to a reputable lender.
Friday, October 2, 2009
Thursday, August 20, 2009
Some local recommendations! For Oklahoma City restaurant and entertainment
Well, this summer I have tried some new things that I am recommending to my existing and new clients. My husband saw that the Lyric Theater was having some great productions this summer. Now I have to admit, when I first had heard about this, I thought it was a small town production and I was not excited to go. We headed downtown to Bricktown to dinner and it was just too busy for our time frame. We decided to head west of Bricktown and see what else might be available. To our pleasant surprise as we circled the Civic Centre we found on Main just west of Walker a place called Trattoria Il Centro. Me being in sales and all about expectations, I went in and told them, we unfortunately had only 50min and needed to be at the play. They were packed. I figured for sure we were heading to Subway. The hostess stated, "if you dont mind sitting over here, I will have Sean take care of you." They sat us at a counter overlooking the brick oven prep area, which actually was fun to watch, and almost private from all the other diners. Sean came to the table told us he knew we were on a time line and that he would have us out of there in 30 min. AND He DID!! Not only that but, if you know me sometimes I just cant decide what I want to eat, and it being a new place, I was just exhausted anyways from a day of showings and listing appts. Well, Sean suggested all of our meals, and it was not normally something that we would have ordered ourselves. They were great!! We were very impressed and out in time for us to see "The Producers". The Civic was a great place to watch a quality show. Well, last night we were headed out again to see "Little Shop of Horrors" and went back to see Sean at Trattoria Il Centro. We were seated and again he met all of our expectations. This is a place I will recommend for my clients that want great service, great food, and a good time in Oklahoma city, you dont have to be just in Bricktown!!! Stop in to see Sean and tell him I sent you, I think you will be pleasantly surprised!!! As always if you are moving to this area, please contact me for the best areas, locations and top service!!
Wednesday, July 22, 2009
Wanna buy a home with the $8000 tax credit/incentive
Hey Oklahoma City, Edmond, Piedmont, Moore, Mustang, Yukon real estate buyers.....time is ticking. On Aug 1st there is a new procedure put into effect that will slow down the title companies and lender process. They have to have a HUD to a buyer within 3 days of closing (this is good news for buyers, right now it has sometimes been last minute). What does that mean though, if your in the market and waiting like most people think is a good tactic, dont!! It will get very busy in Oct/Nov and if your closing does not make the deadline, that incentive is NO good. Plan at the very least on 45 days for closing. So, that means that you should be out now looking at homes to find the one you love. I would be happy to help you with that. Not every Realtor is "in" this business full time and paying attention to market trends. Make sure you work with a Reputable Realtor one that does multiple transactions, we have done over 112 last year, those numbers beat ALOT of people. We have repair people that are ready for any problems we need to overcome. Dont go it alone. Call me to help!!!
Monday, July 6, 2009
REAL ESTATE -- Home staging is IMPORTANT!!
Home Staging Invites Buyers Into Your Home
Before gaining popularity and becoming the theme for several HGTV shows, many homeowners were skeptical about the impact home staging would make on prospective buyers. Barb Swarz is credited with inventing home staging in 1972 and starting the International Association of Home Staging Professionals, which now has over 9,000 members. Did you know a form of home staging has been around for thousands of years?
Roberto Gonzales blogs about his first experience selling a home that has been staged with Feng Shui:
“I recently had a listing that makes me realize how important the feeling of a home is. It was a very peaceful feeling, as I enter this home, this very pleasant, very open feeling. Even though the house was small, the atmosphere was terrific. I noticed a center fireplace in the family room, the colors throughout the house were all earthy, it was like everything was in perfect harmony with all the pieces on the walls as well as furniture. Nothing fancy, just simple. Then the owner ask edme if I ever heard about Feng Shui, so my answer was no, and she explained to me in great detail all she had done to the house. We had 5 showings, and everyone said they loved it. We got a contract in less than 30 days–did you think this could be possible? Well I do, so now my first advice to my sellers is to rearrange some things in the house. Less is more, and do not overdo with personal touches.”
Home staging has become a must for sellers who are looking for a speedy sale and increased value. Whether your technique is modern and savy or rooted in an ancient culture, creating an inviting atmosphere will help buyers visualize themselves in the home.
We can assist in staging your home when we list your property. Call Heidi today at 405-274-9210.
Before gaining popularity and becoming the theme for several HGTV shows, many homeowners were skeptical about the impact home staging would make on prospective buyers. Barb Swarz is credited with inventing home staging in 1972 and starting the International Association of Home Staging Professionals, which now has over 9,000 members. Did you know a form of home staging has been around for thousands of years?
Roberto Gonzales blogs about his first experience selling a home that has been staged with Feng Shui:
“I recently had a listing that makes me realize how important the feeling of a home is. It was a very peaceful feeling, as I enter this home, this very pleasant, very open feeling. Even though the house was small, the atmosphere was terrific. I noticed a center fireplace in the family room, the colors throughout the house were all earthy, it was like everything was in perfect harmony with all the pieces on the walls as well as furniture. Nothing fancy, just simple. Then the owner ask edme if I ever heard about Feng Shui, so my answer was no, and she explained to me in great detail all she had done to the house. We had 5 showings, and everyone said they loved it. We got a contract in less than 30 days–did you think this could be possible? Well I do, so now my first advice to my sellers is to rearrange some things in the house. Less is more, and do not overdo with personal touches.”
Home staging has become a must for sellers who are looking for a speedy sale and increased value. Whether your technique is modern and savy or rooted in an ancient culture, creating an inviting atmosphere will help buyers visualize themselves in the home.
We can assist in staging your home when we list your property. Call Heidi today at 405-274-9210.
Monday, June 29, 2009
Dec 1 is coming soon, dont miss the $8000
With the recent signing of the $787 billion American Recovery and Reinvestment Act, it’s an ideal time to buy a new home. If you are a first-time homebuyer and close on a home before December 1, 2009, you could receive a tax credit of up to $8,000.
With historic low interest rates, you’re now closer than you think to achieving the dream of homeownership. Call Heidi Rose today at 274-9210 for your next step….
With historic low interest rates, you’re now closer than you think to achieving the dream of homeownership. Call Heidi Rose today at 274-9210 for your next step….
Wednesday, June 17, 2009
Help for Homebuyers! in Edmond Oklahoma or anywhere!
Seven steps to buying your home
1. Define your needs.
Congratulations on your decision to purchase a new home! It is important to select a professional real estate agent to work with you before you begin house hunting, so that your agent can help you define what kind of home and neighborhood would best suit your desires and needs. The finer the details on your wish list, the more effective your home search will be. To further define your needs, you may want to divide your lists into negotiable and non-negotiable items, so your agent can operate with some flexibility when scouting for homes on your behalf.
2. Get preapproved.
Now that you know what you want in a home and neighborhood, you need to find out what you can afford. The best way to do this is to get prequalification or preapproval for a home loan. Your real estate agent can refer you to a mortgage broker to begin the process. In most markets, preapproved buyers are preferred by sellers over those who are prequalified. Your preapproved status lets the seller know:
You have gone through an extensive financial background check.
A lender is willing to do business with you.
The likelihood of unexpected obstacles regarding financing is minimal.
3. Let the house hunting begin!
Now you are ready to embark on your home search — an endeavor that can prove overwhelming if not approached with some forethought. The most efficient route is to allow your real estate agent to do the initial scouting for you. Using your wish list as a guide, he or she will alert you of new and existing listings that have strong potential. If these listings pique your interest, your agent will arrange home tours at your convenience. Many agents send alerts via email — sometimes as often as daily, depending on the available inventory in your market. Let your agent know how you’d like to receive these alerts, whether by phone, email or fax.
You also can do some research on your own. Read local real estate publications, contact your local neighborhood associations, visit the local chamber of commerce, surf the Internet, or drive around your favorite neighborhoods. While these methods certainly can lead to your dream home, it’s important to note that 82 percent of home sales are the result of agent connections.* That means it’s more likely your agent will find your dream home through being in the real estate business than you driving around on the weekends.
* National Association of REALTORS®
4. Make an offer.
When you’re ready to make an offer on a home, your real estate agent will help you determine the offer price by reviewing recent sales of homes similar in size, quality and amenities. With your input, your agent will draft a written contract that outlines what needs to be done by both parties to execute the transaction. If the seller accepts the offer, the document becomes a binding agreement, so it is imperative that you carefully review it with your agent and speak up if anything is not clear to you. It’s important to note that if the seller changes any aspect of the offer, it is not a binding agreement until the buyer agrees to the seller’s changes.
5. Strike a deal.
Sometimes, you get lucky and the seller accepts your offer as is. However, in most instances, the seller will make a counteroffer. This is where your real estate agent’s experience in negotiations will be invaluable. Keep in mind almost everything is negotiable when you are buying a house. This can give you a great deal of leverage in the buying process — that is, if you have adequate information and you use it in an appropriate manner.
Some items you may negotiate:
Price
Financing
Closing costs
Move-in date
Repairs
Appliances and fixtures
Landscaping
Painting
Remain in close contact with your real estate agent so you can quickly review any changes from the seller. Remember: Bargaining is not a winner-take-all deal. It is a business process that involves compromise and mutual respect.
6. Prepare for the closing.
When an offer becomes a binding agreement, your real estate agent will help you tackle the checklist of action items that you, as the buyer, have agreed to perform prior to closing. Depending on how the responsibilities are divvied up in the agreement, this is typically when you will:
Conduct a home inspection.
Get an appraisal and finalize your financing.
Secure title insurance.
Shop for a home warranty.
Having these procedures done in a timely and professional manner is a must, as any delays could threaten a successful closing. A first-rate real estate agent should be able to serve as your “one-stop shopping” referral source for service providers. Your agent also should serve as your advocate, helping to coordinate activities and making sure the vendors have access to the property to perform their jobs.
7. Close the deal.
Congratulations! The moment you’ve been anticipating has arrived. The closing is where home ownership is legally transferred from the seller to the buyer. It is a formal meeting that most parties involved in the transaction will attend. Closing procedures usually are held at the title company’s or lawyer’s office. The closing officer will coordinate all the document signing and the collection and disbursement of funds.
In advance of your closing date (24 hours at minimum), your lender will send a final closing statement that outlines your closing costs, if applicable. Your real estate agent will review this document with you to ensure its accuracy, as well as help you gather any necessary documentation that you’ll need to bring to closing.
1. Define your needs.
Congratulations on your decision to purchase a new home! It is important to select a professional real estate agent to work with you before you begin house hunting, so that your agent can help you define what kind of home and neighborhood would best suit your desires and needs. The finer the details on your wish list, the more effective your home search will be. To further define your needs, you may want to divide your lists into negotiable and non-negotiable items, so your agent can operate with some flexibility when scouting for homes on your behalf.
2. Get preapproved.
Now that you know what you want in a home and neighborhood, you need to find out what you can afford. The best way to do this is to get prequalification or preapproval for a home loan. Your real estate agent can refer you to a mortgage broker to begin the process. In most markets, preapproved buyers are preferred by sellers over those who are prequalified. Your preapproved status lets the seller know:
You have gone through an extensive financial background check.
A lender is willing to do business with you.
The likelihood of unexpected obstacles regarding financing is minimal.
3. Let the house hunting begin!
Now you are ready to embark on your home search — an endeavor that can prove overwhelming if not approached with some forethought. The most efficient route is to allow your real estate agent to do the initial scouting for you. Using your wish list as a guide, he or she will alert you of new and existing listings that have strong potential. If these listings pique your interest, your agent will arrange home tours at your convenience. Many agents send alerts via email — sometimes as often as daily, depending on the available inventory in your market. Let your agent know how you’d like to receive these alerts, whether by phone, email or fax.
You also can do some research on your own. Read local real estate publications, contact your local neighborhood associations, visit the local chamber of commerce, surf the Internet, or drive around your favorite neighborhoods. While these methods certainly can lead to your dream home, it’s important to note that 82 percent of home sales are the result of agent connections.* That means it’s more likely your agent will find your dream home through being in the real estate business than you driving around on the weekends.
* National Association of REALTORS®
4. Make an offer.
When you’re ready to make an offer on a home, your real estate agent will help you determine the offer price by reviewing recent sales of homes similar in size, quality and amenities. With your input, your agent will draft a written contract that outlines what needs to be done by both parties to execute the transaction. If the seller accepts the offer, the document becomes a binding agreement, so it is imperative that you carefully review it with your agent and speak up if anything is not clear to you. It’s important to note that if the seller changes any aspect of the offer, it is not a binding agreement until the buyer agrees to the seller’s changes.
5. Strike a deal.
Sometimes, you get lucky and the seller accepts your offer as is. However, in most instances, the seller will make a counteroffer. This is where your real estate agent’s experience in negotiations will be invaluable. Keep in mind almost everything is negotiable when you are buying a house. This can give you a great deal of leverage in the buying process — that is, if you have adequate information and you use it in an appropriate manner.
Some items you may negotiate:
Price
Financing
Closing costs
Move-in date
Repairs
Appliances and fixtures
Landscaping
Painting
Remain in close contact with your real estate agent so you can quickly review any changes from the seller. Remember: Bargaining is not a winner-take-all deal. It is a business process that involves compromise and mutual respect.
6. Prepare for the closing.
When an offer becomes a binding agreement, your real estate agent will help you tackle the checklist of action items that you, as the buyer, have agreed to perform prior to closing. Depending on how the responsibilities are divvied up in the agreement, this is typically when you will:
Conduct a home inspection.
Get an appraisal and finalize your financing.
Secure title insurance.
Shop for a home warranty.
Having these procedures done in a timely and professional manner is a must, as any delays could threaten a successful closing. A first-rate real estate agent should be able to serve as your “one-stop shopping” referral source for service providers. Your agent also should serve as your advocate, helping to coordinate activities and making sure the vendors have access to the property to perform their jobs.
7. Close the deal.
Congratulations! The moment you’ve been anticipating has arrived. The closing is where home ownership is legally transferred from the seller to the buyer. It is a formal meeting that most parties involved in the transaction will attend. Closing procedures usually are held at the title company’s or lawyer’s office. The closing officer will coordinate all the document signing and the collection and disbursement of funds.
In advance of your closing date (24 hours at minimum), your lender will send a final closing statement that outlines your closing costs, if applicable. Your real estate agent will review this document with you to ensure its accuracy, as well as help you gather any necessary documentation that you’ll need to bring to closing.
Tuesday, June 2, 2009
Real Estate Sellers Helpful hints!
Just came across this article and liked its content and wanted to share with anyone looking to sell. If I can help please call me!!! 513-6212.
Emotions Sell!!
3 simple, steps to setting the scene and getting the sale
by Sandy Dixon,
The old adage that ‘location, location, location’ sells a house may still hold true, however just as significant to the buying decision is ‘emotion, emotion, emotion’. The human mind loves images and emotion and buyers in particular, are extremely visual when it comes to deciding on the ideal property to purchase. It frequently happens that if buyers do not like the appearance of a property at curbside, they will refuse to even look inside. So it is crucial that agents and sellers have a detailed strategy for showcasing the property.
Capturing the interest of buyers can be as simple as creating visual ‘cues’ or scenes both inside and outside the property that will trigger a positive response to what they are seeing. The key to success is to make certain that the setting presented is relevant to the majority of buyers and will both capture and maintain their interest.
So where do you start? It’s as simple as 1-2-3… PLAN-POSITION-PROMOTE.
#1 Plan:
Educate sellers upfront. Providing ‘full service’ means offering professional advice, suggestions and remedies when needed, to your sellers. If you are uncomfortable discussing topics relating to cleanliness, clutter or style, provide the services of a real estate stager as part of your listing package. Their expertise in preparing homes for sale and consulting with sellers can be invaluable and timely with regard to staying ahead of the competition
Stay true to the function of the space. Buyers get confused when rooms are not used for their intended purpose. If it’s a dining room, make certain there is dining room furniture and not office, game or toy related items taking over the space. Master bedrooms need to look like master bedrooms and secondary bedrooms should not take on the function of a storage room.
Net it out. Sellers tend to lose their objectivity after living in a home a long time. They become oblivious to what surrounds them. It is imperative, if buyers are to envision themselves living in the property, that the seller’s ‘imprint’ be removed. In order to eliminate sensory and visible overload, everything that is not used on a daily basis, is obsolete or redundant (multiple tables, chairs, etc.) should be removed from all rooms---and don’t forget the outside of the property. Remember that first impressions are lasting!
#2 Position:
Ambiance is the goal. Freshly painted walls, sparkling windows and light fixtures, carpets that are cleaned, uncluttered surfaces and fresh scents all contribute to creating a positive first impression. However, going one step further and creating a ‘call to action’ by adding some well thought out props will help the buyers feel connected to the property and envision themselves living there.
Top props for setting inviting scenes:
Fresh flowers near entry, on dining room table or on bedside table
One or two books on a chair or ottoman, bedside table or on a chaise lounge overlooking a pleasant view
Teacup and saucer w/napkin on a chair side table or on a tray that can be placed on an ottoman or bed
Bath salts and candles on a tub surround
Afghan draped across a chair near a fireplace
Bowl of fresh fruit on kitchen counter or table
Bottle of wine and glasses on a tray by a fireplace
Full place settings (placemats, napkins, dinnerware) on dining tables---inside and outside.
Soft background music
Game board set up on table in family room
Vignettes tell a story. A vignette is a ‘mini scene’ or themed arrangement and is used frequently to create a specific mood. They are quite useful when it comes to helping buyers see the potential of a property. A vignette can be as simple as a music stand with sheet music opened and a violin propped up against it---and don’t forget to have soft, classical music playing in the background. More frequently vignettes are comprised of one or two chairs, a small table in between with a lamp, a couple of books and some greenery. For an added burst of color and texture, an area rug can be added to the arrangement. If there is a view to highlight, position one or two chairs, ottoman, floor lamp and greenery along with two wine glasses and bottle of wine to visually help the buyers imagine relaxing and enjoying the view. Bottom line, determine the best features of the property and set the stage to highlight them.
#3 Promote:
Photos and virtual tours: Emotions can also be triggered with eye-catching visuals in your marketing materials. Include the scenes you’ve set in various areas inside and outside the property.
Open houses: (both broker and public). Have a fire burning in the fireplace in the fall and winter; open windows and patio doors to let the outdoors in whenever possible. The sound of water coming from indoor and outdoor fountains elicit a comfortable and inviting feeling to visitors.
Computer program or cue cards: If the property is challenged with a confusing floor plan or has rooms that can be used in a variety of ways, S-P-E-L-L is out for the buyers! Use ‘cue’ cards in those areas to suggest the multiple uses for a room and post the cards where they are easily visible in the room. A more dramatic and highly effective tool would be to use a computer program to draw one or two possible remodeling floor plans and attach to the door of the problem room. Buyers can’t make changes mentally and tend to think remedies might be impossible until they see potential layouts visually laid out for them.
‘Seeing is believing’ and ‘what you see is what you get’ both address the fact that our visual intake has a direct effect on our emotional assessment of things, which in turn, determines the actions we take. The National Association of Realtors statistics show that the longer a home is on the market, the less it sells for…which should send a strong message to sellers. Take action upfront and do everything possible to help buyers not only see the best features of the property, but to emotionally see themselves living there.
Remember…emotion sells!
Emotions Sell!!
3 simple, steps to setting the scene and getting the sale
by Sandy Dixon,
The old adage that ‘location, location, location’ sells a house may still hold true, however just as significant to the buying decision is ‘emotion, emotion, emotion’. The human mind loves images and emotion and buyers in particular, are extremely visual when it comes to deciding on the ideal property to purchase. It frequently happens that if buyers do not like the appearance of a property at curbside, they will refuse to even look inside. So it is crucial that agents and sellers have a detailed strategy for showcasing the property.
Capturing the interest of buyers can be as simple as creating visual ‘cues’ or scenes both inside and outside the property that will trigger a positive response to what they are seeing. The key to success is to make certain that the setting presented is relevant to the majority of buyers and will both capture and maintain their interest.
So where do you start? It’s as simple as 1-2-3… PLAN-POSITION-PROMOTE.
#1 Plan:
Educate sellers upfront. Providing ‘full service’ means offering professional advice, suggestions and remedies when needed, to your sellers. If you are uncomfortable discussing topics relating to cleanliness, clutter or style, provide the services of a real estate stager as part of your listing package. Their expertise in preparing homes for sale and consulting with sellers can be invaluable and timely with regard to staying ahead of the competition
Stay true to the function of the space. Buyers get confused when rooms are not used for their intended purpose. If it’s a dining room, make certain there is dining room furniture and not office, game or toy related items taking over the space. Master bedrooms need to look like master bedrooms and secondary bedrooms should not take on the function of a storage room.
Net it out. Sellers tend to lose their objectivity after living in a home a long time. They become oblivious to what surrounds them. It is imperative, if buyers are to envision themselves living in the property, that the seller’s ‘imprint’ be removed. In order to eliminate sensory and visible overload, everything that is not used on a daily basis, is obsolete or redundant (multiple tables, chairs, etc.) should be removed from all rooms---and don’t forget the outside of the property. Remember that first impressions are lasting!
#2 Position:
Ambiance is the goal. Freshly painted walls, sparkling windows and light fixtures, carpets that are cleaned, uncluttered surfaces and fresh scents all contribute to creating a positive first impression. However, going one step further and creating a ‘call to action’ by adding some well thought out props will help the buyers feel connected to the property and envision themselves living there.
Top props for setting inviting scenes:
Fresh flowers near entry, on dining room table or on bedside table
One or two books on a chair or ottoman, bedside table or on a chaise lounge overlooking a pleasant view
Teacup and saucer w/napkin on a chair side table or on a tray that can be placed on an ottoman or bed
Bath salts and candles on a tub surround
Afghan draped across a chair near a fireplace
Bowl of fresh fruit on kitchen counter or table
Bottle of wine and glasses on a tray by a fireplace
Full place settings (placemats, napkins, dinnerware) on dining tables---inside and outside.
Soft background music
Game board set up on table in family room
Vignettes tell a story. A vignette is a ‘mini scene’ or themed arrangement and is used frequently to create a specific mood. They are quite useful when it comes to helping buyers see the potential of a property. A vignette can be as simple as a music stand with sheet music opened and a violin propped up against it---and don’t forget to have soft, classical music playing in the background. More frequently vignettes are comprised of one or two chairs, a small table in between with a lamp, a couple of books and some greenery. For an added burst of color and texture, an area rug can be added to the arrangement. If there is a view to highlight, position one or two chairs, ottoman, floor lamp and greenery along with two wine glasses and bottle of wine to visually help the buyers imagine relaxing and enjoying the view. Bottom line, determine the best features of the property and set the stage to highlight them.
#3 Promote:
Photos and virtual tours: Emotions can also be triggered with eye-catching visuals in your marketing materials. Include the scenes you’ve set in various areas inside and outside the property.
Open houses: (both broker and public). Have a fire burning in the fireplace in the fall and winter; open windows and patio doors to let the outdoors in whenever possible. The sound of water coming from indoor and outdoor fountains elicit a comfortable and inviting feeling to visitors.
Computer program or cue cards: If the property is challenged with a confusing floor plan or has rooms that can be used in a variety of ways, S-P-E-L-L is out for the buyers! Use ‘cue’ cards in those areas to suggest the multiple uses for a room and post the cards where they are easily visible in the room. A more dramatic and highly effective tool would be to use a computer program to draw one or two possible remodeling floor plans and attach to the door of the problem room. Buyers can’t make changes mentally and tend to think remedies might be impossible until they see potential layouts visually laid out for them.
‘Seeing is believing’ and ‘what you see is what you get’ both address the fact that our visual intake has a direct effect on our emotional assessment of things, which in turn, determines the actions we take. The National Association of Realtors statistics show that the longer a home is on the market, the less it sells for…which should send a strong message to sellers. Take action upfront and do everything possible to help buyers not only see the best features of the property, but to emotionally see themselves living there.
Remember…emotion sells!
Thursday, May 21, 2009
Keller Williams Edmond Gives back to Edmond Community
Gary Atchley and myself participated in RED DAY yesterday May 20th and helped give back a little to the Edmond community. Gary worked on painting at the Boys Ranch in Edmond, and Heidi painted at a person in needs home. Other projects throughout the day included clean up at Lake Arcadia, and more projects at Boys Ranch and at Friedas home. For the wonderful business we are blessed with in Edmond real estate, it was a small token of appreciation. Lots of fun and great work was accomplished!!!
Friday, May 1, 2009
Edmond's Economic Report
Information Is obtained by The Edmond economic development authority www.eeda.com EDMONDS ECONOMIC ABSTRACT for 2009Population 83,259 Total Number of Households 29,917Edmond is located in Oklahoma County which has an estimated population of 707,765Average Household Income in Edmond $90,913 US Avg is $68,953 Edmond has experienced 49.2% growth in Average Household Income from 1990 to 2000.Edmond's median age is 34.7Edmond's average household size is 2.72Edmond had more thatn 200 restaurant establishments, 30 parks and outdoor venues, 40 shopping centers and a cost of living index that is 11.3% below the national average.Edmond has one of the lowest crime rates of any city in Oklahoma with a population of more than 100,000The average price of an existing single family home has grown 28% during the last five years bringing it to $253,329Edmond's highly educated labor force, low cost of living, favorable quality of life and excellent school system make it an ideal place for executive living. Executive homes are abundant in Edmond with more than half of the existing inventory between the $225K to $1M+ price range. Many of these homes are 3,000 ft to 5000 sq ft, have four to five bedrooms and can be found on one of Edmond's three residential golf courses.
Tuesday, April 28, 2009
Oklahoma Citys own Chesapeake listed among best places to work
The Journal Record April 27,2009 reports that Chesapeake Energy Corp. of Oklahoma City was ranked 12th on Outside magazine's second annual "Best Places to Work" list.
The list included 30 companies.
The magazine noted Chesapeakes incentive based volunteer program, onsite fitness center and employee special events.
The list included 30 companies.
The magazine noted Chesapeakes incentive based volunteer program, onsite fitness center and employee special events.
Tuesday, April 7, 2009
OKC hits Forbes List again!!!
A bit of good news for your relocation clients - Forbes just made Oklahoma City their number 6 pick among "America's Most Livable Cities." Reasons for the ranking include low cost of living, job growth, low unemployment, and income growth. And as you know around this time last year they also named us the #1 most Recession proof. We like Forbes!
You can see the ranking and the article here: http://www.forbes.com/2009/04/01/cities-city-ten-lifestyle-real-estate-livable-cities_slide_11.html
You can see the ranking and the article here: http://www.forbes.com/2009/04/01/cities-city-ten-lifestyle-real-estate-livable-cities_slide_11.html
Thursday, March 26, 2009
Atchley Group wins Platinum Again!
The Atchley Group was the proud recipients of four awards at the recent Keller Williams award ceremony in Tulsa this Mar.2009. The awards received:
Platinum in Outstanding Production
Top Group in Oklahoma Region in GCI
Top Group in Edmond in Units Closed
Too Group in Oklahoma Region in Units Closed.
Our producers Gary Atchley - Listing Agent
Heidi Rose - Buyers Agent
Deb Atchley - Business Mgr
Vonna Lovett - Closing Mgr
Platinum in Outstanding Production
Top Group in Oklahoma Region in GCI
Top Group in Edmond in Units Closed
Too Group in Oklahoma Region in Units Closed.
Our producers Gary Atchley - Listing Agent
Heidi Rose - Buyers Agent
Deb Atchley - Business Mgr
Vonna Lovett - Closing Mgr
Monday, March 23, 2009
Spring Break outside of Edmond
Well, we are back from our Spring Break in Newport, Ri. Here are the top TEN aspects about Edmond Oklahoma that I am bringing back with me:
1. Our road system is much easier to navigate than the Northeast
2. As noticed by my 11yr old son when driving home from the airport, "Mom, our roads are much wider, I feel like I can breathe here in Edmond."
3. Our homes are much MUCH MUCH more affordable and have some of the best amenities. Looking thru the Real Estate Guides in Mass, RI I would not switch my home for one of those at the same price. Thank goodness for steady Oklahoma!
4. Every place we went people were talking about the down economy, now I know things are down a bit, but we certainly are not feeling what they are feeling.
5. Our weather was much warmer while I was gone, it was 32-48degrees the whole time we were there, I had my winter coat and scarf the whole time.
6. They do have better seafood than us. Sorry, but thats ok, because I DO NOT eat seafood. Just my husband and kids. Go steak!!!
7. When people asked where we were from we proudly stated OKLAHOMA and most people stated they would love to go see it sometime! I told them I could sell them some good real estate :)
8. Our airport is nice, clean, and easy to manuever. Theres well....... Providence was comparable.
9. A typical lunch cost us $70 for four. That is a typical dinner here!
10. Oklahoma feels like home, but that is a great place to visit!!!
1. Our road system is much easier to navigate than the Northeast
2. As noticed by my 11yr old son when driving home from the airport, "Mom, our roads are much wider, I feel like I can breathe here in Edmond."
3. Our homes are much MUCH MUCH more affordable and have some of the best amenities. Looking thru the Real Estate Guides in Mass, RI I would not switch my home for one of those at the same price. Thank goodness for steady Oklahoma!
4. Every place we went people were talking about the down economy, now I know things are down a bit, but we certainly are not feeling what they are feeling.
5. Our weather was much warmer while I was gone, it was 32-48degrees the whole time we were there, I had my winter coat and scarf the whole time.
6. They do have better seafood than us. Sorry, but thats ok, because I DO NOT eat seafood. Just my husband and kids. Go steak!!!
7. When people asked where we were from we proudly stated OKLAHOMA and most people stated they would love to go see it sometime! I told them I could sell them some good real estate :)
8. Our airport is nice, clean, and easy to manuever. Theres well....... Providence was comparable.
9. A typical lunch cost us $70 for four. That is a typical dinner here!
10. Oklahoma feels like home, but that is a great place to visit!!!
Wednesday, March 4, 2009
Changes in FHA Requirements
This just in from one of our Preferred Lender Partners The Bomar Team
Hello Friends!
We just got notification on Monday that our lowest FICO score for FHA and VA loans is now 600 (previously 580). . I personally feel that 620 is going to be the new industry standard, as many of the big national lenders have already made this change.
If we have sent you out a pre-approval for someone that you suspect has a lower credit score, please reply and ask if their approval is still good. We have issued many pre-approvals over the past 90 days, and we are not sure who is actively looking or not. These changes have all happened this week, so it is a bit sudden, and we just don’t want to have any disappointments if one of your buyers finds a home, but the loan is no longer available.
Thank you!
If you need to be preapproved or have questions please contact heidi@atchleygroup.com
Hello Friends!
We just got notification on Monday that our lowest FICO score for FHA and VA loans is now 600 (previously 580). . I personally feel that 620 is going to be the new industry standard, as many of the big national lenders have already made this change.
If we have sent you out a pre-approval for someone that you suspect has a lower credit score, please reply and ask if their approval is still good. We have issued many pre-approvals over the past 90 days, and we are not sure who is actively looking or not. These changes have all happened this week, so it is a bit sudden, and we just don’t want to have any disappointments if one of your buyers finds a home, but the loan is no longer available.
Thank you!
If you need to be preapproved or have questions please contact heidi@atchleygroup.com
Saturday, February 28, 2009
Keller Williams Family Reunion 2009 Orlando
Just getting back from family reunion in Orlando. What a great and educational real estate experience. The Atchley Group were receipents of the Platinum Award with over 700kGCI. We closed over 115 transactions in 2008 making us the top Group in Keller Williams Edmond!! I was able to go see the Vision Speech with Gary Keller where "House on Fire" was our discussion and that people need knowledged and experienced Realtors in this economy. Great because we are one!! And, we will up our Game. Also attended seminars on social networking, blogging, listing, master of language, staging and the importance, and so many others. Im excited to share this information with people, so dont hesitate to call or email me with what is happening in our market and how you can take advantage of it!!! This is a great time to be a buyer or seller, you need to find out why!! I also saw a wonderful speaker Clint Swindal and his "Tell me something good" motto, that is mine baby!!! I love good news, so if you have good news tell me I want to hear something good. We were invited to a reception with Mo Anderson, Vice President of Keller Williams International and visit with her on the great Oklahoma region. Our office was tops, and we are so proud of our Tulsa market center and their committment to KW Cares. This is a great company Keller Williams, our motto is God, Family and then real estate. So if you value that you should be working or using Keller Williams, to find out more ask me!!! Find me on facebook and add me as a friend and see some great photos!!
Wednesday, February 18, 2009
Oklahoma Realtor report
2008 Home Prices Rise
From Oklahoma Association of REALTORS®
Yesterday at 10:33am
The Oklahoma Association of REALTORS® (OAR) released statewide figures for 2008 home sales and home values today. The OAR statistics show Oklahoma home prices in the state last year increased by .52% percent overall. And while home prices held their ground through the national mortgage crisis and slumping economy, the number of home sales declined 9.4 percent from the previous year near record high. Association officials say the decrease in the number of homes sold is likely attributable to the ‘one-two punch’ of last year’s press coverage of the national housing market followed by the weakening economy which resulted in job losses and reduced consumer spending in most parts of the country. “Oklahoma bucked the national trends on home sales and prices for much of 2008, and it’s no small thing that we saw an increase in home values in the face of a national credit crises and slumping economy,” said Mike Craddock, 2009 president of the Oklahoma Association of REALTORS®. “However, as the national economy continued to falter in the fourth quarter of last year, our markets statewide were impacted as Oklahomans took a ‘wait and see’ approach on home buying. In February of 2008, the OAR launched the ‘Good Thing You’re in Oklahoma’ initiative to educate home buyers and sellers about the affordability, stability and security of the Oklahoma housing market. Many local boards of REALTORS across the state adopted a similar campaign in their home towns. The average cost of a home in Oklahoma increased by a half percent compared to home prices in 2007. In 2008 the average cost of a home sold was $149,482 compared to $148,715 in the 2007. Statewide, 49,269 homes were sold last year. This is 9.5 percent less than the number of homes sold in 2007 in which showed 54,378 homes were sold in the state.“We are encouraged by the fact that Oklahoma’s home values increased despite the national economic downturn,” said Craddock. “It reinforces our belief that buying a home in Oklahoma is still an affordable, stable and secure investment.”
From Oklahoma Association of REALTORS®
Yesterday at 10:33am
The Oklahoma Association of REALTORS® (OAR) released statewide figures for 2008 home sales and home values today. The OAR statistics show Oklahoma home prices in the state last year increased by .52% percent overall. And while home prices held their ground through the national mortgage crisis and slumping economy, the number of home sales declined 9.4 percent from the previous year near record high. Association officials say the decrease in the number of homes sold is likely attributable to the ‘one-two punch’ of last year’s press coverage of the national housing market followed by the weakening economy which resulted in job losses and reduced consumer spending in most parts of the country. “Oklahoma bucked the national trends on home sales and prices for much of 2008, and it’s no small thing that we saw an increase in home values in the face of a national credit crises and slumping economy,” said Mike Craddock, 2009 president of the Oklahoma Association of REALTORS®. “However, as the national economy continued to falter in the fourth quarter of last year, our markets statewide were impacted as Oklahomans took a ‘wait and see’ approach on home buying. In February of 2008, the OAR launched the ‘Good Thing You’re in Oklahoma’ initiative to educate home buyers and sellers about the affordability, stability and security of the Oklahoma housing market. Many local boards of REALTORS across the state adopted a similar campaign in their home towns. The average cost of a home in Oklahoma increased by a half percent compared to home prices in 2007. In 2008 the average cost of a home sold was $149,482 compared to $148,715 in the 2007. Statewide, 49,269 homes were sold last year. This is 9.5 percent less than the number of homes sold in 2007 in which showed 54,378 homes were sold in the state.“We are encouraged by the fact that Oklahoma’s home values increased despite the national economic downturn,” said Craddock. “It reinforces our belief that buying a home in Oklahoma is still an affordable, stable and secure investment.”
Thursday, February 12, 2009
Tornados in Edmond
Well, gosh, I am so thankful everyone is ok. This one was too close for comfort and hit my neighborhood and did significant damage to numerous homes. I am proud of Edmond Schools for taking the right steps in putting our children in lock down. No buses on the road. Everyone was safe. The Atchley Group was safe at the office as it went by. Homestead and Oak Tree were hit hard. The American Red Cross has set up a way to donate if you wish to. I dont know what people need, but it seems they will. Check me out on facebook to see the pictures posted of the damage. Make sure if you live locally you know what to do in a situation like this. Even me being a Yankee knew what to do, as did my children!
Sunday, February 1, 2009
Why Use a Buyers Specialist for Edmond, Deer Creek, Moore, OKC in Oklahoma
While many homeowners turn to a real estate agent when selling their property, not very many home buyers turn to a buyer’s agent when purchasing real estate. It’s very surprising that buyers try to “go it alone” when making a purchase that will affect their finances and their lifestyle for years to come. The average person spends around 1/3 of their income on their home, so any mistakes made when buying a home can add up to huge losses. A good buyer’s agent is a professional with the insight into the market that every buyer needs. A qualified agent offers:
1) Full Access to the MLS Only realtors can fully access a powerful tool known as The Multiple Listing Service (MLS), which lists approximately 99% of homes for sale within a given market. The MLS is a comprehensive list of all homes that have been listed by realtors, and a buyer’s agent has access to this resource. An experienced buyer’s agent can use the MLS to find homes that meet your specific parameters.
2) Big Savings of Time
It can take months or even longer to research neighborhoods, building plans, architectural details, and the real estate market. A good buyer’s agent can not only do all the research for you – he or she can also help you translate your lifestyle needs into a home purchase. Simply tell a buyer’s agent what you are looking for and he or she will do all the work in finding you a list of homes that match what you are looking for. A buyer’s agent has helped many buyers in your position and with his or her help, you can spend your time looking at homes that meet your wants and needs.
3) Representation Real estate agents hired by home sellers enter into legally binding agreements that require them to act in the best interest of the seller. A buyer’s agent, on the other hand, will use their expertise to act in your best interests. Your agent can coach you through every step of the buying process. If the seller has professional help, shouldn’t you?
4) Negotiating Power A Buyer’s Agent will run a Comparative Market Analysis (CMA) to establish the Fair Market Value (FMV) on a property. This not only helps to ensure that you will not end paying more than a home is worth, but it also means that a buyer’s agent can professionally negotiate price on your behalf.
5) Experience The average homebuyer will purchase just 3-5 homes in their lifetime. A good buyer’s agent will help in buying that many homes per month. An agent simply has the experience most buyers do not.
6) Industry Contacts A good buyer’s agent has access to a quality closing team that may consist of an inspector, listing agent, loan officer, appraiser, insurance agent, general contractors, and others. By working with this team, your buyer’s agent can help ensure that your home purchase is as hassle-free and as positive as possible.
7) Peace of Mind A buyer’s agent acts as a second, professional opinion on one of the largest decisions of your life. By working with a professional, you can rest assured that you are making the right decisions for you. Working with an expert, you know that you can avoid some of the common pitfalls that can affect home buyers.
Buying a home can be exciting and fun. However, no matter what sort of real estate transaction you are interested in making, a buyer’s agent is a must. A real estate professional who specializes in working with buyers can help you avoid costly mistakes and can help you feel more comfortable as you make your decisions. (Source EzineArticles.com)
1) Full Access to the MLS Only realtors can fully access a powerful tool known as The Multiple Listing Service (MLS), which lists approximately 99% of homes for sale within a given market. The MLS is a comprehensive list of all homes that have been listed by realtors, and a buyer’s agent has access to this resource. An experienced buyer’s agent can use the MLS to find homes that meet your specific parameters.
2) Big Savings of Time
It can take months or even longer to research neighborhoods, building plans, architectural details, and the real estate market. A good buyer’s agent can not only do all the research for you – he or she can also help you translate your lifestyle needs into a home purchase. Simply tell a buyer’s agent what you are looking for and he or she will do all the work in finding you a list of homes that match what you are looking for. A buyer’s agent has helped many buyers in your position and with his or her help, you can spend your time looking at homes that meet your wants and needs.
3) Representation Real estate agents hired by home sellers enter into legally binding agreements that require them to act in the best interest of the seller. A buyer’s agent, on the other hand, will use their expertise to act in your best interests. Your agent can coach you through every step of the buying process. If the seller has professional help, shouldn’t you?
4) Negotiating Power A Buyer’s Agent will run a Comparative Market Analysis (CMA) to establish the Fair Market Value (FMV) on a property. This not only helps to ensure that you will not end paying more than a home is worth, but it also means that a buyer’s agent can professionally negotiate price on your behalf.
5) Experience The average homebuyer will purchase just 3-5 homes in their lifetime. A good buyer’s agent will help in buying that many homes per month. An agent simply has the experience most buyers do not.
6) Industry Contacts A good buyer’s agent has access to a quality closing team that may consist of an inspector, listing agent, loan officer, appraiser, insurance agent, general contractors, and others. By working with this team, your buyer’s agent can help ensure that your home purchase is as hassle-free and as positive as possible.
7) Peace of Mind A buyer’s agent acts as a second, professional opinion on one of the largest decisions of your life. By working with a professional, you can rest assured that you are making the right decisions for you. Working with an expert, you know that you can avoid some of the common pitfalls that can affect home buyers.
Buying a home can be exciting and fun. However, no matter what sort of real estate transaction you are interested in making, a buyer’s agent is a must. A real estate professional who specializes in working with buyers can help you avoid costly mistakes and can help you feel more comfortable as you make your decisions. (Source EzineArticles.com)
Sunday, January 25, 2009
Edmond, Deer Creek and Oklahoma Real Estate news
Hello, yes it has been awhile but the numbers are out. The Atchley Group again hit the number one group with Keller Williams in Oklahoma. We are looking forward to the Keller Williams Family Reunion in Feb in Orlando, Florida to gain even more knowledge insight and chance to talk with other KW realtors from all over the country. Our web business is still strong and our Turner and Son model traffic has been increasing. We are still blessed to be in Oklahoma. I've written a number of contracts lately on existing homes, new homes, short sales and foreclosures. So to say business is in all one category would be misleading. Interest rates have been great, a lot of lenders are busy with refi's. Im planning a homebuyer seminar in Feb /Mar so keep your eyes open for info. Always visit our website at www.atchleygroup.com. Also if you are a facebook person feel free to check me out.
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