Maybe Oklahoma Real Estate could have been helped even more, had the sellers received the first time buyer tax credit to sell their homes. The moneys could have been stipulated for bringing roofs, HVAC, foundation problems, carpet/tile, countertops, and plumbing up to standards that meet FHA guidelines. It could also be used to pay buyer closing cost. The result would boost the business of Oklahoma licensed contractor and put more money back into the businesses of the Greater Oklahoma City area.
Some first time buyers like the idea of getting the free money to buy a home, but expect the seller to pay closing cost and repairs that are needed post inspection. I have no problem with this if you are fortunate enough to find a house the is perfect for your needs without needing any improvements or repairs. You might even find a home that the seller would do anything to make it what you dreamed of.
Hello people. This money was originally set aside to help a resident of the United States buy a home. Please don't forget what it's for. If your eligible for the money, that either means you have been paying rent for 3 years or living somewhere for free. The National Association of Realtors fought hard to get the industry started with the First Time Home Buyer tax credit. I believe it's helping the industry, but I think a lot of it my be used for a new boat, or maybe a vacation in Hawaii.I know a lot of Americans that think it's a waste of money, and that it's not helping. The issue is often associated with the money spent toward the automobile makers.
If you're a first time home buyer taking advantage of buying a home with the tax payer's dollar, just remember this money was meant to be used to help you get into a home by providing money for your down payment and closing costs. So, try to be thankful you have this money to help you make an investment and buy your dream home.
I believe this depletion of quality homes will inspire more of those wanting to sell and upgrade to a larger home. With the First Time Home Buyer Tax relief, ambitious lenders that will guide first time buyers through credit repair, and offer some of the best interest rates we have seen in a long time, it has suddenly turned into a good time to sell. If you have taken care of your home and are waiting until the market picks up, it's time to start looking at the numbers. If you want to buy a home, and have been waiting for a better opportunity, you should consider getting qualified with a lender and finding a Realtor who has experience with the latest assistance in home buying.
Warr Acres, in Oklahoma City reports 49 single family residental homes sold in December, 2008. The average price per home was $105,902. These numbers are actually up from 45 homes at the average price of $90,506 in December of 2007.
December 2006, 59 homes sold, average price $97,636
December 2007, 45 homes sold, average price $90,506
December 2008, 49 homes sold, average price $105,902
The numbers do not go along with the general information we receive about the Nation's economyand indicate an upswing in home value and the market.
I have had a lot of prospects in the past few months that were only interested in foreclosures. I have the utmost respect for the type of home a buyer is interested in, but think the general public has a lot to learn about the definition of foreclosure and what the word often means in home buying.
The word foreclosure is basically a legal term that dates back to at least 1713. It has nothing to do with being a happy home owner and in fact, is simply an unfortunate action evicting a home owner. The mind set of potential home buyers is that foreclosure is an abbreviation for a really good deal.
If you are looking for a foreclosure as your next home or an investment, you might be interested knowing some of the things that we have encountered in buying a foreclosed property.
First of all, financial establishments that have foreclosed property don't have to provide a disclosure in the state of Oklahoma. This means that if there is anything wrong with the property, it does not have to be documented on paper. It's like you taking possession of a car that you have never driven and putting it on the market to be sold as is.
The next obstacle is getting a mortgage company or bank to loan you the money to buy a home that has been repossessed. Your lending company probably will want their investment to be worth more than what you are borrowing so that if you can't make payments, they will at least get their money back. It's simply security. Usually a large down payment is required to get the loan off the ground.
Another drawback is repairs and insurance. Insurance companies won't insure a dwelling that has potential to deteriorate due to poor maintenance. Mortgaged homes must be insured. Many foreclosed homes have sat empty for several months or even years. The previous owners probably didn't put a lot of effort into leaving the home in great condition. A buyer will have to repair all structural, roofing, plumbing, and mechanical problems to make the home habitable. This can be expensive and time consuming, even if you are going to do some of the work yourself.
These are just a few things that come to mind. We look at many homes each month that are not foreclosures. Our clients generally want a home that is move-in ready. Clients know they don't want to spend their time and money making a home a nice place to live. They want a nice home that can hold its value.
There are some really nice homes on the market. A lot of sellers have taken very good care of their homes and kept them maintained and up to date. It has paid off and these are the homes that are selling quickly. They have been a growing investment and a great place to live. Buying a foreclosure can be a good investment, but you might want to consider buying a pickup and some tools before making your purchase.
How to repair your credit and qualify for a low interest home mortgage rate, Oklahoma City and Edmond Homes for Sale, Oklahoma Market conditions. Rent or buy. How to purchase a home in the Greater Oklahoma City area? The latest Oklahoma County housing statistics. Gas price up. Gas prices down. Bethlehem MLS Search for a Manger. Top 5 Oklahoma City Area Holiday Lighting Displays. Is my guitar in tune? Are we finished with our shopping and Christmas Cards? I wonder what Nancy is getting me? I can't Goggle the answerer to that.
Uh oh! I went from work, to thinking about relaxing and enjoying the season in one paragraph. It's time to enjoy the season. The Season with a reason to celebrate. The biggest event in the year.
The Real Estate Market is unpredictable. Nancy and I have been working really hard this year with the ups and downs of Oklahoma Real Estate. However we know we are fortunate to live in Oklahoma where the market remains in good shape. Our Broker, Paradigm AdvantEdge has been great to work with and we wish the Office Staff and all the Oklahoma City and Edmond area Associates a very Merry Christmas. Many Realtors have dropped out and started other jobs, mostly due to the rumors that the media has started about the economy and the fear it puts into buyers. A lot of family's wanting to sell and get different homes have been discouraged by the poison of the media as well.
We have enjoyed, and are thankful for the clients that have given us an opportunity to be their personal Realtor. We wish them a very Happy and Merry Oklahoma Christmas.
Shopping mostly locally, we completed the task early this year. It has confused me a little, because I have been known to wait until the last week to do Christmas inventory. It seems like everyone in the Greater Oklahoma City area started early also. There were Christmas sales before Thanksgiving was here.
Do yourself a favor and set aside some time to spend with your family and reflect on what has happened in your life the past year. Get out and see some Christmas lights or go to a Christmas program. Christmas 2008 is going to be a great time, with the New Year 2009 to look forward to.
Do to the all too familiar word "bailout" it seems every type of business wants a piece of the action or they fear they will suffer. If they are currently not running their business correctly, they probably won't correctly run their business in the near future.
Credit card companies are worried that they are not going to get a big enough piece of the pie. Even though many bank owned credit cards are receiving money from the bailout program, they are still concerned they are not getting enough and recently have begun slicing credit limits. This practice seems to be across the board even when the card holders have not been late on payments and have a very low balance.
I have heard news reports, and know some of these consumers personally, that have had their limits lowered. This in turn can cause them to have their credit maxed out when the week before they may have only been at 30%. Because this puts them over or maxes out the new limit that the card company put into place, it then causes the card holders to receive a lower credit score.
Then because they have a lower credit score, caused by the credit card companies in the first place, the credit card companies are raising the interest rate on the cards that were already too high. This results in making it harder to get a good rate on a home mortgage.
I'm getting really tired of large, supposedly organized businesses and corporations asking for help, while the consumer is getting stepped on and expected to pay for the help.
Joe the Plumber wouldn't run a business expecting his customers to bail him out with money that has been paid as taxes. He would expect the money to defend his country and help the veterans who have done so. He would like to see help improve the schools where his children attend. Funds to fix roads and bridges would be nice also. Maybe Joe would like to see more parks and wildlife refuges. How about more control of the credit card companies?
If we are going to bail anyone out, let's start by helping the little businesses that are the backbone of America. Better yet, let's start with the people and the communities where these little businesses operate. Speak up and let you thoughts be known. Don't let unattached politicians decide the fate of the nation without hearing from you and the people you know. The wheel that squeaks the loudest gets the oil. At this time, America can't be heard at all for the squeaking at our Capital.
Low interest rates here to stay? That's what the six o'clock news is saying. I started to blog last Thursday when the rate dropped so consumers in the Oklahoma City area and Edmond housing market could take advantage of the lowest rate I've seen in a while. But by the next day the rate had gone up about one percent. Anyway, it would be a good idea if your thinking about buying a home to contact a local Mortgage company and get approved. Then while your shopping for a new home, your Mortgage agent could lock you into a really great rate. You can smile when you make an offer on your new home, knowing that you got a good rate and a good buy on your home.
Also if you been thinking about selling your home, you might want to think about getting it ready to put on the market. If rates are good, it's going to bring more buyers out in the market. Before your home goes on the MLS, you should have it in the best shape as possible.
Please contact us below if there is anyway we can help you or if you have questions you need answered.
Living in Oklahoma City, I was happyto see the Google search phrase (mls search) bring up an OklahomaMLS.something on the top of the string. If I was a home buyer, it might have manipulated me to an avenue of buying a home. However, out of the first page of results, there wasn't any links that took me closer to an actual search of the Oklahoma City and Edmond area. Some of the links had Oklahoma Metropolitan listings advertised, yet there were no actual live searches.
I refined my search by adding Oklahoma and got better results. It's a long trip for Internet users who don't know a lot about searching for Real Estate. There are many capture pages and misleading highlights to lure them into an organization that will put the potential buyers in a system that does not require talking to a Realtor until all the personal information demands are met.
Unless you are experienced enough to buy your home without a Realtor, or have been a Realtor lately in the state you are buying your home, you will want to use a Realtor's service. Buying Agents do not charge for their service and are paid for their work by the Listing Agent's commission.
If your buying a home, I recommend that you contact a Realtor today and take advantage of the service they provide. Find one that communicates well with you, and you will help you move forward, and release you from spending a lot of time on the Internet.
One day while attending an open house a potential buyer came in to look around. When asked how she found the home, she stated that she receives listings from an agent and this particular home was on her list. She told us about signing up on justlisted.*.*?, and how she received many different listings. We congratulated her on having a dependable Realtor that sent her listings for review. She then stated that her buying agent was a friend and that she didn't want to bother her with searching for her new home.
This information is for buyers looking for new homes on the Internet. There are a lot of lead capture sites that come up when you start searching the Internet for a home. These companies capture your information and forward it to selected Realtors in your area for a fee. The lady mentioned above had a Realtor working and paying for her home search and she had no intention of using him or her for purchasing her new home.
It's good to have a friend that's a Realtor to help you with the buying process. I'm sure her friend would have been more than happy to set up a listing search. Especially since she was going to be involved in the process.
That is why communication between clients and Realtors is so important. If you are receiving listings from a Realtor that you don't know due to an approach as the one above, take a moment and get to know them. If you do not have any intention of letting the Realtor help you buy your home, you are using their service, time, and money with no benefit to the person sending you information that may lead you to your dream home. If you are open to them helping you, please communicate at least via email to let them know if they are sending you the type of inventory you are interested in. If they are not, please let them know so they can change your search.
Realtors have a lot of expenses in keeping their license up to date, advertising, continuing education, transportation, and local and national fees. If you're a home buyer, their service is of no charge to you. If you are a seller, the Realtors want to do their best to get your home sold.
There are still some really nice new and used homes in the Meadows At Surrey Hills located at Hefner and Mustang Road in Yukon. Also there are several lots left to custom build a home to fit your needs.
This little neighborhood has it's own Elementary School with sports fields, and the Surrey Hills Golf Club is close enough to drive your golf cart to. The swimming pool should be open next summer along with the community club house. Great for booking birthday parties and other group functions. All of this with very low HOA dues.
The Northwest Expressway and Kilpatrick Turnpike are only five minutes away to provide you with businesses and stores for all your shopping needs.
Please contact Rick or Nancy today for more information about living in the Meadows at Surrey Hills.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
You can look at the statistics for Oklahoma County and see a drop in the housing market. What you don't see is the selection of inventory going down hill. Smaller homes such as those needed for a lot of first time buyers that want to take advantage of the First Time Buyer Tax Credit are hard to find. As you search for a home you will find a lot of houses on the market, but the really nice ones, that don't need a lot of work and will pass the inspections and appraisals of the Mortgage Companies are really hard to find.
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