Ruth Ann's Blog

OKC Thunder Rests OT Win from Chicago Bulls on Their Home Court

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Sun, 11 Jan 2009 14:06:42 -0600

The Oklahoma City Thunder NBA basketball team has, to say the least, been struggling in their first season in OKC. They find themselves in the cellar of the league. It was to be expected that it would take some time to get in the groove with their move from Seattle, many young players, coaching problems and subsequent changes. For much of the first of the season, it was really almost painful to watch.

Of late, however, the Thunder have really started to turn the corner. They have had recent losses by only a couple of points to good teams, where they have played well and could just as easily have won. Last night they defeated the Chicago Bulls on their home court by a score of 109-98 in over time. They played with a good energy which had not been seen earlier in the season, rebounded exceptionally well, and did better in controlling the ball, an area that has caused them numerous losses.

Star Kevin Durant played well, achieving a double double. New Thunder recruit, Nenad Krstic, recently from Russia via the New York Nets, made a significant contribution to the victory on both ends of the court. This big man should certainly improve the Thunders' prospects. The future is definitely looking up for the Thunder!

In spite of their struggles, the OKC community has given the Thunder tremendous support, with most games at or near capacity attendance in the Thunderdome. Thunder games are televised, and we watch whenever possible, having seen most of their games. Last night was an exciting game that was fun to watch. Congratulations Thunder! We look forward to seeing more games of this caliber as the team continues to build.

FUN TO BE PART OF THUNDERDOME CROWD; GAME? NOT SO MUCH.

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Thu, 13 Nov 2008 10:33:04 -0600

Last night we attended our first Thunder game at the Ford Center. After a nice Mexican meal at La Luna, we joined over 18,000 other OKC fans on a beautiful, crisp fall evening at the newly refurbished Ford Center to watch the OKC Thunder take on the Orlando Magic. We had attended a number of Hornets games when the team called OKC home, and always loved the excitement, even when the Hornets were having less than a winning season. Once again, we found it exciting to be part of the crowd. But, you know it's a bad night for the home team when the crowd gets excited that the team is only down by sixteen, rather than the 32-point deficit held by the Thunder at one point in the game. When you dig a hole that deep, it's almost impossible to climb out of it. Give it to the OKC fans, they remained supportive to the end, cheering their team on in the face of being on the wrong end of the 109-92 final score.

We never expected the Thunder to be in play-off contention this year, nowhere near. They are a young team, they have just relocated here, and had a miserable final season in Seattle. We were not even expecting anything close to a winning season. However, last night the Thunder just could not seem to do anything right. To be fair, they were missing their star, former rookie of the year, Kevin Durant, due to an ankle injury. Their loss last night, however, cannot be attributed merely to Durant's absence. Also, to be fair, we have watched most of the Thunder games on TV, and they certainly have shown improvement and potential. Oftentimes, they have held leads, but have seemed somehow unable to close out the game.

Not last night. Last night they shot just over 37 percent, seemingly unable to get even uncontested easy lay-ups to fall. Rebounding was equally dismal, as often there seemed to be no Thunder players under the basket. They had headed back down the court before even seeing if a shot fell or not. And as for defense, you know it's going to be a bad night when the opposing team has scored 71 points by half-time. When the announcer came over the public address system saying that they were going to show replays from the first half, I really couldn't think of anything that I wanted to see again. Once was more than enough.

Will we return to the Thunderdome? Sure, we'll be back. We're willing to stick with the team while they're building and getting better. We like to be part of the Thunderdome excitement. But it sure will be more fun when our team at least makes a game of it.

Gorgeous Custom Home in the Meadows at Surrey Hills $182,900

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Thu, 21 Aug 2008 08:42:02 -0500

Gorgeous custom home is available in the Meadows at Surrey Hills. Sits on an extra large greenbelt lot with lots of space for kids to play and you to garden and birdwatch. Location is city close and country quiet. Located only two miles from the Kilpatrick Turnpike, so you can be anywhere in the metro area in just minutes. Surrey Hills Elementary School is only a few blocks away.

This 3 bedroom, 2 full bath beauty has 2020 square feet, according to builder, and is only four years old--built in 2004. It has decorator colors, designer tile, and granite throughout. The spacious great room is filled with light and adjoins a huge kitchen with striking custom cabinetry, a breakfast bar, and room for dining. It also has a formal dining room just off the sunny entry way. Open and bright plan with high ceilings and deep crown moldings.

The master bedroom is spacious and has room for a sitting area. The master bath boasts separate shower and garden tub, beautiful black marble counter, and upscale basins. The large study with French doors could be a formal living room. Archways lead from the entry through a foyer and into the great room/family room.

Call Henry at 405-642-3632 or Ruth Ann at 405-255-6770 for your showing of this lovely home. Sellers are licensed real estate agents.

FHA Down Payment Assistance Program: Does It Help Buyers Get into a Home?

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Mon, 19 May 2008 17:52:49 -0500

With most if not all of the conventional very-low or no down payment programs having evaporated with the sub-prime mortgage mess, how do first-time buyers with reasonable credit who can make payments but have very little up-front cash get into a home? The answer may, or may not be the FHA Down Payment Assistance Program.

We recently had experience with this program working with two buyers. Both had good credit, but did not have much money to make a down payment and pay for closing costs. One story had a happy ending, one did not.

The first buyer found a well-cared for home in an established desirable neighborhood. He wanted to finance the required 3% FHA down payment with a loan from a down payment assistance company. This was to be added to the purchase price of the house, and to be paid back at closing by the seller. The seller was also asked to pay for a few thousand dollars of the buyer's closing costs, allowing the seller to still net about 97 to 98 per cent of the list price of the home. This worked out well, and we have a very happy buyer, and seller too, I think.

In the second case, our buyer found a wonderful little house which had been professionally updated in a neighborhood of lower-cost homes in a good area of town. The homes in this area had been generally well kept, but the home our buyer wanted to purchase was really an exceptional home for the area. We proposed the same type of financing as with buyer one. Unfortunately, different result. We could not make the transaction work.

What made the difference? In the first case, the home had no difficulty in appraising for the amount of the purchase price with the down payment added. In fact, it appraised for more. In the second instance, because the home was so atypical for the area, we could not find comps to support the higher purchase price.

It seems the FHA DPA may work well for some situations, but not for others. Having a good understanding of what the house will appraise for seems critical to knowing whether this type of financing will work for your buyer with a given purchase. What have you been finding with this program?

Dependable Pansies

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Mon, 07 Apr 2008 14:54:47 -0500

We have been anxiously awaiting more sunshine and warmth so that we can get outside and plant some new things! Fortunately, the pansies and Johnny-Jump-Ups we planted last fall can always be counted on to come back stronger than ever the following spring. It never ceases to amaze me when I see the pansies covered with ice in the winter, only to see them growing and bushing out and looking beautiful when spring comes again. For something that looks so fragile, they are truly one of the hardiest plants imaginable!

We usually have to pull out huge clumps of pansies to replace them with something more heat tolerant when the weather gets warmer. We put this off as long as possible, as the plants become really spectacular, but we have to pull them in time to be able to acquire suitable replacement plants from the garden centers while they still have plenty of stock. Usually we have one or two wheelbarrowfulls brimming to the top with pansies. I always hate to see them go, but know we will always plant more of these reliable and beautiful plants come fall.

Oklahoma City Number 2 Best Place to Live!

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Sat, 15 Mar 2008 18:46:26 -0500

CNNMoney.com offers a feature which allows you to search for your Best Place to Live based on several criteria, including Housing Affordability, Plentiful Leisure Activities, Plentiful Cultural Options, Job Growth, Sunny Weather, Short Commute Time, and Good Health Care Access.

The above criteria were assessed in the following manner:

Affordable Housing-Median home price in area

Plentiful Leisure Activities-Number of sports, concerts, family/arts events, movie theaters and restaurants

Ford Center Events

Oklahoma Redhawks Baseball

Paseo Arts District Activities and Events

National Cowboy Hall of Fame and Western Heritage Center

Plentiful Cultural Options-Number of museums, arts theaters, and orchestras

Oklahoma City Museum of Art

Oklahoma City Philharmonic

Lyric Theater

Job Growth-From 2000 to 2006

Sunny Weather-Average number of clear days per year

Short Commute Time-Median commute time in minutes

Good Health Care Access-Number of teaching hospitals in area

If you indicate that all the above factors are Very Important to you, results show Oklahoma City as the Number 2 Best Place to Live in the U.S.!

CNNMoney Best Places to Live Search

We are fortunate to live in an area with such affordable housing and such great amenities!

Supreme Court Ruling May Affect New Home Prices in Oklahoma

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Sat, 23 Feb 2008 14:57:02 -0600

The Oklahoma Suprmeme Court recently ruled unconstitutional a tax break which has been enjoyed by land developers and home builders in Oklahoma. This tax break has allowed builders and land developers to freeze the taxable market value of land purchased for development to its value at the time it was purchased, thus saving developers and builders money. The Court stated that the value of the land must be reassessed annually, as is the land owned by other types of property owners. This will result in builders and developers paying higher property taxes.

Builders will likely pass their increased costs on to home buyers by raising the prices of their homes. However, Oklahoma remains one of the most affordable housing markets in the country. Also, according to state law, property tax increases are capped at 5% per year, so the price increases should not be too large. A positive side to the situation is that Oklahoma Schools will receive more funding due to the increase in collection of property taxes.

Public or Private Financing for NBA in Oklahoma City: Who Should Foot the Bill?

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Thu, 21 Feb 2008 13:38:09 -0600

image courtesy of freefoto.com

For two seasons, Oklahoma City was the temporary home for the New Orleans Hornets NBA basketball team due to the damage sustained by New Orleans during hurricane Katrina. During their time in OKC, the city embraced them, and sold-out games were the rule, rather than the exception. (GO HORNETS!) Now that the Hornets have returned to New Orleans, OKC looks to be the likely new home for the current Seattle Supersonics, as they have been purchased by investors from the metro area. If Seattle continues to refuse to build a new state-of-the-art arena for the team, it will apply to relocate to Oklahoma City.

With this opportunity to have our own permanent NBA team, rather than one "on loan" for a while, the city and its citizens are faced with a decision. We are being asked to finance improvements to our own arena, the Ford Center, to make it more attractive to the NBA. It is proposed that the improvements be financed through a temporary sales tax of 1%, which would, of course, be paid by all citizens, whether they attend basketball games or not.

Those that oppose the financing arrangement cite the fact that the money could be used for other purposes, such as upgrading of streets and transportation, which would be of greater benefit to the citizenry in general. They also feel it is unfair for those who do not attend the games or have interest in them to be asked to help finance a private business enterprise for wealthy club owners, and think it places a financial burden on those with limited incomes. There is also the concern that in another ten years, we too would be facing building of a new arena or losing our team to yet some new venue eager for NBA status. Those with these concerns favor private financing or possibly charging a sur-tax on tickets so that those who reap the benefits of the improvements are the ones who pay for them.

The mayor and those who support the idea of public financing cite the fact that the NBA presence would have a significant impact on the way others perceive our city, attracting more new businesses and improving the economy for all of us.

Good arguments on both sides! Do any of you have experience with similar situations in your locales? What is your opinion?

Oklahoma City Ford Center Website

Yummy Food in Oklahoma City Metro: Taj India Cuisine

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Wed, 20 Feb 2008 18:38:04 -0600

I don't know about you, but Indian food is some of our favorite! When we can't wait any longer for some wonderful Indian cuisine, we make a bee line for Taj India Cuisine at 5801 Northwest Expressway. They have a wonderful fresh buffet, offering many vegetarian choices like Vegetable Korma, as well as some great old stand-bys, such as Chicken Tika Masala, Spinach Pakora, and Vegetable Samosa. You can also order from the menu, and we strongly suggest the Chicken Badami Pasanda, and well as the Chili Chicken, this last one if you like things spicy! Of course, the chef will prepare any item to your taste, from mild to extra hot.

We ate at two five-star Indian restaurants when we visited New York City, and neither compared to the cuisine at the Taj! In addition to wonderful food, the owners, Mani and Shantha Raju, make you feel like special guests in their own home. You will want to return again and again for their food and for their hospitality. They also have great special buffets for holidays, such as Valentine's Day, New Year's, and the Indian Festival of Lights.

Oklahoma City Metro Area Economy Projected to Outpace Rest of the Nation

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Tue, 29 Jan 2008 17:12:47 -0600

According to David L. May, Ph.D., Professor of Economics at Oklahoma City University, the Oklahoma City metropolitan area economy should continue to outperform the nation as a whole for a number of reasons. Dr. May cites the following reasons for the robust local economy:

1. The Oklahoma City housing market has remained stable, and prices have not become overinflated as in some areas of the country. Therefore, the current problems with sub-prime mortgages afflicting some parts of the nation are not really too significant here.

2. Natural gas and oil are extremely important to our economy. Energy prices are expected to remain high for most of the coming year, helping to keep our economy strong.

3. Native American gaming casinos continue to grow and support increased tourism to our area.

As well, the Oklahoma City metro area has a very low cost of living. All of these factors should contribute to a strong and stable economic picture for Oklahoma City in the near future.

ICE STORM AFFECTS OKLAHOMA CITY METRO AREA HOUSING MARKET

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Sat, 26 Jan 2008 09:49:53 -0600

The severe ice storm experienced in the Oklahoma City metropolitan area in November of 2007 contributed to a slower housing market. Many businesses were closed due to power outages, and prospective buyers did not get out in the difficult weather conditions to look at homes. As well, many sellers decided not to put their homes on the market, but to wait till Spring instead. Because of this, and a slow-down in new building starts, the area had a 5.5 month supply of homes at the end of 2008, down just slightly from November (The Daily Oklahoman, January 26, 2008). This compares to a 10 month housing supply nationally at the end of the year according to the same source. The Oklahoma City metro market has essentially remained stable, and avoided the steep declines seen in some areas. In fact, 2007 was the fifth most active year for home building here in the last ten years (op. cit.).

According to statistics compiled by the Oklahoma City Metropolitan Association of Realtors, total home sales closed in December of 2007 were down just over 18% from December 2006. However, the average sales price rose over 5%, with an average price of $156,089 last December compared to $148,312 the previous year. With Spring not too far away, a clear increase in buying interest is taking place. We both had excellent turnout for open houses held last weekend. If Spring comes, can buyers be far behind?!

Third Quarter 2007 Market Statistics for the Oklahoma City Metro Area

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Tue, 01 Jan 2008 12:49:07 -0600

Sales statistics for the third quarter of 2007 were recently released by the Oklahoma Association of Realtors. While the Oklahoma City Metropolitan Area experienced a 5.62% downturn from the same quarter in 2006 in the number of homes sold, the average sales price increased by 2.55% for the same period. 5,198 homes were sold in the OKC Metro area in the third quarter of 2007 versus 5,490 homes in that quarter in 2006. The average sales price increased from $149,124 in third quarter 2006 to $153,339 in 2007.

Edmond saw a negligible decrease of less than one-half of one percent in the number of homes sold in the third quarter '07 compared to that quarter in 2006, with 1,023 homes sold through September of 2007 versus 1,028 sold in the same period of 2006. Edmond home prices decreased slightly (2.51%), from $241,880 to $235,817.

In the state as a whole, sales of new and existing single-family homes (14,394) decreased 5.42% from the same period in 2006, while the average sales price of $126,145 represents greater than a 6% gain from this period last year.

Bald Eagles Flock Annually to Edmond, Oklahoma

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Tue, 01 Jan 2008 09:38:16 -0600

Most people are surprised to learn that bald eagles migrate annually to Edmond during the winter from Canada, and then return north during the warm season. The birds make their local stop in the area of Arcadia Lake. Each year an eagle watch is held there so that local residents can get a glimpse of the national symbol. In 2007, about 250 to 300 eagle watchers convened at the lake with telescopes and binoculars to watch the birds.

This year the eagle watch will be held Friday January 4 through Sunday January 6 from 7:30 am to 4:30 pm at Lake Arcadia. Cost is $3 per car. Guides will be present to assist visitors in locating the birds. Maps can be picked up at the Lake Arcadia administration building at 9000 East 2nd Street. More information about the event can be obtained by calling (405) 216-7470. (excerpted from The Oklahoman, January 1, 2008)

ICE STORM RESULTS IN EXTENSIVE AND COSTLY PROPERTY DAMAGE IN OKLAHOMA CITY AREA

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Mon, 31 Dec 2007 09:13:20 -0600

The recent ice storm in the Oklahoma City metro area caused power outages for hundreds of thousands of Oklahoma City residents. We have friends who were without power for 11 days! My brother and his wife had no power for 5 days, and stayed with us during that time. We lost power for about a day, but were fortunate to have a gas fireplace and a gas stove in our kitchen. These kept our home above 70 degrees, and allowed us to cook. (One added benefit of gas appliances and fireplaces that we will note to prospective buyers when we are showing them homes which have these features!) We kept perishable items from our freezer/refrigerator in an ice chest on our back patio.

Many hundreds of residents found that their power could not be restored until they personally had repaired damage to electrical boxes on their homes which had been torn away by the ice. This was an expense individual homeowners had to bear themselves, which cost, on average, about $500-600. The ice also caused damage to numerous roofs, another expense of the homeowner.

In addition to being forced to deal with the loss of power and cost of repairs to their homes, many residents suffered extensive damage to mature trees on their properties. The weight of the ice coating resulted in many limbs being split from trees. We live in a new neighborhood and our trees are small and supple. Although our little River Birch and Bald Cypress were literally bent over to the ground from the weight of the ice, as the ice melted, they slowly returned to their upright positions, a little skewed to one side, but none the worse for wear. Larger and older trees in other neighborhoods were not so fortunate.

Most of the downed limbs, and whole trees cut into pieces, now line the streets in huge piles waiting to be picked up by the city and disposed of. We all know the value beautiful, mature trees add to a property, and it is difficut to calculate the amount of the destruction in terms of loss of property value. Some of Oklahoma City's and Edmond's most popular wooded areas have lost thousands of large trees which it will take decades to replace if the homeowners plant new trees in the spring.

Summit Lake Estates: Unique Development Site of Prestigious Homes with Edmond, Oklahoma Address

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Mon, 12 Nov 2007 22:16:06 -0600

Located at the southeast corner of Coffee Creek and May Avenue, Summit Lake Estates offers luxurious new homes amid gently rolling hills in a peaceful and natural setting. Though the neighborhood boasts an Edmond address, the subdivision does not actually lie within the city of Edmond. The fact that it does not lie within a city contributes to the lovely, rural feel of the area, though all city services are but minutes away.

You enter the elegant subdivision through gates flanked by lovely landscaping. The beautiful neighborhood lakes lie ahead, amid grasses which sway in the breeze and catch the glow of a setting sun. The four lakes are stocked for fishing, and there are over 60 acres of common area surrounding them.

Summit Lake Estates encompasses 156 acres and will utimately have around 114 homesites. Homes in this upscale neighborhood sell in the $460,000 to well over $700,000 range, and each is situated on a large lot of about three quarters of an acre in size. Here there is plenty of space to stretch out and enjoy life. The homes are elegant and of high quality, featuring many unique amenities.

Summit Lake Estates lies in the top-ranked Deer Creek School District, with Rose Union Elementary just a short distance away on Coffee Creek Road. Great shopping and fine restaurants are easily accessible.

Summit Lake Estates is destined to become one of Edmond's premiere addresses. We would love to help you find a special new home in this highly desirable and prestigious community.

MONTEREAU: UNIQUE AND ELEGANT NEW SUBDIVISION IN WEST OKLAHOMA CITY METRO

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Sun, 07 Oct 2007 19:01:41 -0500

Montereau is an elegant new subdivision in the rapidly-growing west Oklahoma City metropolitan area. It is located at the southwest corner of Northwest 150th and County Line Road, only two miles from the Kilpatrick Turnpike, making its location one of the most convenient in the metroplex. Great shopping and fine dining are also only minutes away via Memorial Road and the Northwest Expressway.

Homes in Montereau range from traditional single-family homes starting in the low $200,000 range, to gated Villas starting at $240,000, to gated Estates on one-third acre lots starting at $450,000. Home design is old-world European in influence, from charming English cottages to exquisite French Country homes. You will find that no attention to detail has been spared in planning this unique and beautiful community! This becomes apparent immediately as you enter the subdivision through the elegant stone entry way, past the turreted guardhouse. Extensive mature landscaping and unique lampposts and mailboxes designed especially for the subdivision are among the many fine details that make Montereau much more than just another subdivision.

Montereau lies on 160 acres amid gently rolling hills, and boasts 3 lakes and 17 acres of common area, which will include a community park and pool. Although it is within the city limits of Oklahoma City and is served by Oklahoma City utilities, the subdivision lies within the nationally-acclaimed Piedmont School District, with the new Stoneridge Elementary just one mile west.

Montereau is truly the prestigious new address in the west Oklahoma City metro. Let us assist you in finding that special new home in this unique and beautiful neighborhood!

WINDMILL PARK, A PERFECT FAMILY LOCATION IN GREAT PIEDMONT SCHOOLS

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Fri, 05 Oct 2007 17:50:29 -0500

More and more families are choosing the town of Piedmont as the location for their next home. Many new home owners have discovered that Piedmont provides that feeling of elbow room, fresh air, and closeness to nature that the big city just cannot afford. Piedmont combines small-town atmosphere and friendliness with an unbeatable location just minutes from great Oklahoma City shopping, services and dining via the Northwest Expressway. Piedmont's location near the Kilpatrick Turnpike also means that you have access to virtually any point in the metro OKC complex in a matter of minutes.

In addition, parents love the fact that their children attend the top-rated Piedmont schools, with small class sizes, and great teachers.

On the north edge of Piedmont, just west of Piedmont Road, lies the family-friendly subdivision of Windmill Park. Homes in Windmill Park are typically in the range of $230,000 to approximately $350,000 dollars, and were built from the mid 1990's to current new construction. They are spacious and feature many of the most desired modern features, such as multiple living and dining areas, light open living spaces, the latest appliances, and oversized garages. Many are on large lots and afford a view of the surrounding countryside. The subdivision also boasts a community center which includes a picnic pavilion and playground for the children.

A home in Windmill Park is the perfect place to get to know your neighbors and enjoy the peace and quiet of the Oklahoma countryside! Let us help you find a wonderful new Windmill Park home away from the noise and congestion of the big city. If you must sell your home in this great community, we would consider it a privilege to assist you in its sale.

Early Occupancy Agreements: When Home Sweet Home May Be Neither Sweet nor Home!

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Tue, 10 Jul 2007 19:59:13 -0500

It is a short time to closing, and the buyers of your seller's home have sold their house. They request of the seller to be able to move into the home they are purchasing just a little bit early so they will not have to rent or move their belongings twice. They are great people, a nice young family with two young children. The seller has already vacated his home. What could it hurt? Everything has gone smoothly, and anyone would be a real (estate) meanie not to help them out. Never forget the old adage, "If something can go wrong, it will!"

Recently a seller allowed his buyers to take early occupancy of the home he was selling. During the time the buyers were residing in the home, heavy rains came. They became aware of a leak in the roof, as well as some drainage issues, and decided they did not want to purchase the property.

They had made a large earnest money deposit, and the contract stated that the buyers would not have the earnest money returned should they fail to close on the house. The seller refused to return the large earnest money deposit to the buyers.

To make matters worse, during the time the buyers lived in the home, they had begun to make some renovations, and when they left it was discovered that several thousand dollars worth of repairs would now be required to be able to put the home back on the market! It would take weeks to complete the needed repairs, and there would be a significant amount of time when the house would not be shown. No written agreement had been made between the buyer and seller as to how such damages would be handled. Is this a nightmare, or what!?

How do you counsel your clients regarding requests to take early occupancy? What have been your experiences, good or bad, with early occupancy? What are the requirements in any written early occupancy agreements you may use?

SELLER'S INSPECTION: WHAT DO YOU THINK?

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Sat, 30 Jun 2007 12:21:11 -0500

We recently represented a buyer in the purchase of his first home. The house was great. It was in a wonderful neighborhood. The interior had been beautifully updated, and the air conditioning was new. The house had been repainted inside and out, and a very nice, high-quality stockade fence had recently been placed around the backyard.

Things were moving along well, and the time came for our inspections. We had requested a low figure for repairs, since the house had obviously been well-cared for and looked to be in great condition. Of course, our request for repairs was also a part of our bargaining strategy, since we were asking for closing costs.

To our dismay, and even more to the dismay of the seller, inspections revealed the need for over $5,000 in repairs, including four piers, repairs to the furnace and hot water heater, and treatment for termites! This came as a complete surprise to everyone involved. Of course, that is part of why we have inspections--many defects are often not visible to the observer, and only become apparent on inspection. I could see the look of utter disbelief and shock on the seller's face when the inspector went over repairs with us.

It seems that in some circumstances it might be wise for sellers to consider paying for an inspection before putting a house on the market to avoid unpleasant surprises at inspection. This might particularly be true for older homes, which are likely more at risk for adverse findings on inspection. Having a pre-listing inspection for the seller would help him/her have a more accurate understanding of the costs he/she will need to pay in connection with the sale of the house.

Has anyone had an experience with this? We would be interested in hearing your thoughts or experiences on this topic.

BUYERS BEWARE WHEN PURCHASING PROPERTY NEXT TO VACANT LAND!

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Sat, 30 Jun 2007 09:25:21 -0500

When considering the purchase of a home, most home buyers think about such issues as the location of the home, the condition of the home, and whether the home is priced correctly. One factor that is probably overlooked frequently by new buyers, but which is extremely important, is whether the home is situated next to, or close to, vacant land.

One home buyer bought a home which backed up to a field with a herd of horses. The horses would come to the fence, where he would pat their velvety noses and feed them carrots. The "horse factor" was the deciding reason he ultimately chose to buy that house rather than any other. You guessed it! Within a year, the property had been sold, the horses were gone, and the formerly vacant land was to be the site of about 300 new homes. But, of course, this could have been much worse. The once-vacant land could have become the site of a commercial development, a power station, an apartment complex, or a myriad other unwanted projects. In addition to being undesirable as next-door neighbors, these projects will also result in lowering your property value.

If considering a property lying next to vacant land, be sure to ask your real estate agent if the plans for its development are known. It is wise to go even further and call the city planning commission or other responsible body and inquire about the future plans for the vacant land. A little investigation now could prevent significant problems later.

OKLAHOMA CITY REAL ESTATE UNDER WATER!

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Fri, 29 Jun 2007 20:08:39 -0500

June here is supposed to be hot as a firecracker! Instead, this summer we are about to wash away after 18 consecutive days of rain, frequently torrential. More of the same is forecast for the foreseeable future. Now we know how Noah must have felt when he decided to build the ark!

Flood warnings continue, motorists continue to be rescued after driving into high water, and potential home buyers remain sheltered under their own roofs rather than venture out to look for new homes.

The constant rain has, of course, brought home construction in our area to a grinding, if wet, halt. Due to the construction delays, this week the Central Oklahoma Home Builders Association voted to postpone the annual Parade of Homes, scheduled for September 22-30, to October 20-28.

Even after the rain stops, it will take some time for construction sites to dry out. Believe me, you do not want to chance having Oklahoma red clay tracked onto the beautiful champagne-colored cut Berber carpet in your new Parade home!

Hopefully, by October the soggy red mud will have been replaced by lush green sod, and the 175 or so new homes featured in the Parade will be ready to welcome thousands of eager Oklahoma home buyers! (Hopefully also, at least a few of them our clients!)

MEADOWS AT SURREY HILLS: GREAT NEW SUBDIVISION IN WEST OKC METRO

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Mon, 18 Jun 2007 15:05:57 -0500

About three years ago we built a new home in the Meadows at Surrey Hills. This subdivision is in the rapidly-growing far west metro area, with a Yukon mailing address, but within the Oklahoma City limits and with Oklahoma City services. We love it here!

This lovely neighborhood is far enough out to feel peaceful and serene (somewhat out-in-the-country), but is close to all the city conveniences. For example, there is great shopping, wonderful restaurants, and all services available within just a few minutes on the Northwest Expressway and on Hefner Road. As well, we are only about a mile and a half off the Kilpatrick Turnpike and can get almost anywhere in Oklahoma City in around thirty minutes, most places much less.

There is also a small shopping center close by with convenience store, pharmacy, carwash, and other businesses. The 7-11 there has almost the feel of a little country store.

Homes here are affordable (primarily in the 150-200K range), and have appreciated well since we purchased ours in 2004. The community will add a swimming pool in the near future, and residents have access to the great golf course and golf club at the neighboring original Surrey Hills subdivision.

The Meadows is in the Yukon School District, and the well-respected Surrey Hills Elementary School is right here in our subdivision. There is a large park just behind the school. This is a great family community!

We love to watch the birds here, and have many species which visit us regularly, including Eastern Bluebird, Baltimore Oriole, Northern Cardinal, Purple Finch, Mourning Dove, Nighthawk, Purple Martin, Snowbird, Harris Sparrow, Red Tailed Hawk, Mockingbird, and many others.

IF YOU WOULD LIKE MORE INFORMATION ABOUT THIS OR OTHER GREAT WEST METRO COMMUNITIES, PLEASE CALL OR E-MAIL USING CONTACT INFORMATION AT RIGHT!

Minimum Staging Brings Multiple Offers and Sale Above List Price in Four Days!

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Sun, 17 Jun 2007 22:13:15 -0500

We recently sold a property in four days at above list price with multiple offers. The property had previously been listed with another realtor for over a month and had received no offers. Our seller indicated that the previous realtor had given him no advice on how to improve the marketability of his home.

We made suggestions for improvements at minimal cost, and did minimal staging of the home. We also took very good pictures for the MLS. As soon as the property went on the market, the phone was ringing off the hook!

Just a few simple changes and minimal staging made all the difference!

INTERESTED IN KNOWING MORE ABOUT OUR STAGING OF THIS HOME, OR IDEAS FOR STAGING YOURS? JUST CALL OR E-MAIL USING CONTACT INFORMATION AT RIGHT!

Buying Historic Homes: Some Food for Thought

Ruth Ann Mertens-Oklahoma City Real Estate (Paradigm AdvantEdge Realty) — Sun, 17 Jun 2007 14:54:55 -0500

BUYING HISTORIC HOMES

Buying an historic home is often an emotional decision. They seem romantic, nostalgic, and have a certain mystery and allure. It is wonderful to feel that you are preserving a part of history, and fascinating to research your home to find out its own unique past.

However, be sure before buying that you fully appreciate the responsibilities and expenses involved in the restoration and upkeep of an historic home. Can you afford to do everything that needs to be done to restore the home to your idealized picture of it, or even just to make it livable? Foundation work and window replacement in older homes, for example, can be extremely expensive. If you can't afford to pay to have the work done, do you have the time and energy to do it yourself? For example, if you have small children or work long hours, do you really want to spend your nights and weekends scraping paint?

If you do decide that your dream historic home is really worth the cost and effort involved, be sure to hire a well-respected home inspector who is knowledgeable about historic homes to thoroughly inspect the home before purchasing. Be sure to get references from your inspector before hiring him, and check them out in depth.

Taking the right steps in assessing your purchase of an historic home before you buy can save you from any unpleasant surprises after you move in. If you decide that an older home is right for you, enjoy being a part of the history of your home! We have a friend who owns a lovely turn-of-the-century house who says she does not think of herself as the owner of the home, but only as a person who has been fortunate enough to be given its care.

If you are interested in learning more about historic properties in the Oklahoma City or Guthrie areas, please e-mail us at the link shown on the right.