Tuesday, July 6, 2010

Pools in Edmond -- Private Oasis


As many of you know, Todd and I specialize in selling homes with pools. We LOVE our pool, and appreciate a home with one. Here is an interesting article that I ran across that we wanted to share. This is from At Home in Edmond magazine Spring 2010 by Justin Neely. (with commentary by Heidi in between on our personal experience)

In Oklahoma, the combination of heat and humidity during the summer is enough to make you want stay inside and wait it out. What better way to cool off than with your own private oasis by adding a pool in your backyard?

While the construction of a pool can be a costly investment, the enjoyment you and your family will receive can be well worth it. Pools can also add value and be a selling poing when it comes time to sell. For current pool owners who are afraid to use it due to high operating costs, energy efficient pumps, filters and lighting provide huge savings!

If you're looking to add a pool, the first decision is whether to use vinyl or concrete. (we chose vinyl) On average, a concrete pool costs $40,000 to build and may take four to six weeks for completion depending on weather. (when talking to people that put these in, plan longer) Concrete allows for a more versatile design and features such as waterfalls that can be easily added. Vinyl pools cost an average of $30,000 and take around three to five weeks to construct. (again we found it to be longer) Some people choose vinyl over concrete not only because it is less expensive but because they prefer the feel and believe the liners to hold up better to chemically treated water. (we chose a salt water pool, and did rock edging versus coping.

A main concern for pool owners is the cost of heating and operating. Today companies such as Pentair offer heat pumps over traditional gas-fired heaters. Heat pumps utilize the heat of the outside air to warm the pool. Geothermal technology is a similiar idea in which the heat from the earth is transferred to warm homes.(we chose the traditional gas fired, it is expensive and i feel unneccessary in this area unless you need it for a hot tub. We barely use ours.)

"Heat pumps can save up to 80 percent in energy costs compared to gas heaters. The pump uses electricity over gas keeping the cost down. They also use a R-410A refrigerant which is enviromentally friendly," said Greg McDougall of Pleasant Pools.

If you're looking to add a little mood lighting at night, color changing LED technology is energy efficient and long lasting. Colored LED pool lights use 75 percent less wattage than tradtional incandescent and halogen lights. (we have two lights and love them!!!) The white light uses 86 percent less energy.

For some, a high water bill might be another concern during the hot, dry summer. Cartridge filters allow the use of smaller pumps or lower speeds to minimize energy. As opposed to backwashing, cartridge filters can be rinsed thus reducing water use by hundreds, if not thousands, of gallons each year. (we did not know of this option and back wash, wish we had known)

Lastly, choosing the right pump such as those with a permanent magnet motor, could cut energy use up to 90 percent, saving you anywhere from $600 to $1300. "Permanent magnet motors are used in hybrid cars. Magnet motors are more energy efficient and owners can save up to 30 percent over a traditional pump, says McDougall.

Choosing the right equipment to operate your pool could save you thousands of dollars. Dont let operating costs be the reason for not building a pool or usings your existing one.

We have a number of beautiful homes for sale with pools. Call or email us or visit www.RoseTeamHomes.com

Thursday, June 17, 2010

UPDATE 1-Senate votes to extend US home tax credit deadline, EDMOND, Oklahoma

UPDATE 1-Senate votes to extend US home tax credit deadline
WASHINGTON June 16 (Reuters) - The U.S. Senate voted on Wednesday to give homebuyers another three months to settle on their contracts and take advantage of a popular tax credit that sparked a rush of activity in the housing market.
The Senate, with a vote of 60-37, accepted an amendment by Democratic Leader Harry Reid that extends the closing deadline to Sept. 30 for buyers who met the April 30 deadline to have a signed contract.
The current deadline requires buyers to close by June 30 to get the $8,000 tax credit for first-time homebuyers. Existing homeowners buying a new primary residence are eligible for a $6,500 credit.
Reid offered the measure as an amendment to a bill that would extend some popular business tax breaks and extend unemployment insurance benefits for jobless workers.
The proposal would not have a significant impact on future home sales as the extension would be only for home buyers who already had a contract in hand by April 30.
The popularity of the tax credit has caused some anxiety because settlement offices are inundated with buyers trying to close on transactions by the end of this month to get the tax break. (Reporting by Donna Smith; Editing by John O'Callaghan)


Ted Clay
Sr. Loan Officer
NMLSR # 217991
OK License # MLO01963
Office: 405-341-8644
Cell: 405-826-1320
e-Fax: 1-866-208-5309
tclay@wrstarkey.com
www.TedClay.com

Friday, June 4, 2010

Problems with Recent Closings...due to new Fannie Mae Guidelines

This was just given to me by one of my Lender Partners, Cody McCollom at Premier Nationwide Lending call him to get qualified. 405-990-2855.

Applying for mortgage? Starting June 1, you could face another credit screening.
If you’re thinking about applying for a home mortgage, here’s some important news: Beginning June 1, 2010, your lender is likely to order a second full
credit screening immediately before closing. The last minute credit report will be designed to find out whether you have obtained, or even shopped for,
new debt between the date of your loan application and the closing. If you’ve made applications for credit of any type, for furnishings or appliances for the
new house, car, landscaping, a home equity line, a new credit card, you name it-the closing could be put on hold pending research by the lender.
If you’ve actually taken out new loans that are sizable enough to affect the debt-to-income ratio calculations used in your original mortgage approval, the
whole deal could fall through. The added debt load could render you ineligible for the mortgage because you suddenly appear unable to handle the
payments without a strain on your household budget.
The June 1 changes are part of a new effort by mortgage giant Fannie Mae to cut down on slipshod underwriting by lenders and fraud by borrowers.
Fannie’s “loan quality initiative” will require lenders not only to pull two credit reports for each mortgage transaction but to perform additional verifications
of borrower occupancy plans for the property, Social Security numbers and Individual Taxpayer Identification Numbers.
There is almost an irresistible urge for borrowers that have been approved for the loan to think about shopping for all of the things you need for the house.
In the past, that might not have raised an eyebrow-or even been detected. But under the new double-check policy, when new applications for cards show
up as a “hard”, or borrower-initiated inquiry on a credit report, the lender is going to have to contact the merchant and determine whether credit was
extended, in what amount, and how this might affect the applicant’s home financing transaction. Most often the new debt involves furniture or other goods
for the new house.
Fannie Mae spokeswoman Janis Smith said lenders “will have to look for things like new credit accounts, increased credit lines, increased balances on
existing accounts, undisclosed or newly recorded liens, second mortgages-anything that may have incurred or closed up to the concurrent with the
closing” are considered the final loan analysis. All of this may not be as straightforward as it sounds. For example, if the credit report is pulled immediately
before closing to comply with the “up to and concurrent” requirement, there may not be sufficient time to check out inquiries-especially those in which no
actual drawdown of debt has been reported to the national credit bureaus. There is question whether the entire loan packages might need to be reunderwritten-
a time-consuming process-based on credit data discovered at the eleventh hour.
In that event……… Poof goes your closing!
How should home buyers and financers prepare for the new credit check procedures? Lenders and credit
reporting company executives say everybody needs to follow just one basic rule: abstinence! Between your
application for a mortgage and the date of closing-which might be a span of 46 to 60 days or more-resist the
irresistible. Don’t apply for new credit unless you discuss it in advance with your lender and get a green light!

Thursday, June 3, 2010

Rose Team Homes adds Stewart Concierge for Buyers and Sellers!

As of today, Heidi & Todd have added a new service for our clients. It's called Stewart Concierge...what does this mean for you? This service is being offered by one of our preferred partners, Stewart Concierge will be your single point of contact for getting utilities connected. This is a complimentary service that can guide you through options and plans specific to the utility providers in the area and help secure services based on your budget and individual needs. Services available for Concierge assistance include: electricity, gas, water, sewage, moving services, cellular, internet and cable services, home security, blinds and more!

This is just one more value added for using Rose Team Homes to be your Realtor choice! If you want to buy a home in Edmond, OKC, Piedmont or have other real estate needs, tell us you would like the Stewart service!