Susie Genet's Blog

Benefits of a Short Sale

Susie Genet (Chinowth & Cohen Realtors) — Mon, 31 May 2010 13:37:32 -0700

Benefits of a Short Sale

If you own a home and are falling behind in your payments, you may want to consider a short sale. A short sale is when a property is sold for less than what is owed on the mortgage and the lender accepts the lower amount as satisfaction of the mortgage.

Benefits to the seller include:

•1. A short sale may not impact their credit score as much as a foreclosure.

•2. Seller can continue to live in the home during the process

•3. Morally, sellers are not walking away from a debt but attempting to pay off as much as possible

•4. Realtor fees and closing fees are deducted from the payoff to the bank, seller does not incur these costs.

Benefits to the Lender include:

•1. Lender may not have to go through a costly foreclosure process.

•2. Lender does not have to incur the cost for listing and marketing the property.

•3. Lender is able to remove a loan that is behind from their portfolio.

For more information, visit my website at www.tulsasrealestate.com.

Tax Credit Ended but the Good Deals Didn't!

Susie Genet (Chinowth & Cohen Realtors) — Fri, 21 May 2010 12:04:21 -0700

Tax Credit Ended but the Good Deals Didn't!

If you missed out on the Homebuyers Tax Credit... all is not lost! The lower interest rates that are available now may make up for it! Information released from Freddie Mac for the week ending May 20, shows the 30 year fixed-rate mortgage averaged 4.84 % with a .7 discount point. This is down from the previous week's average of 4.93%. This is the lowest that the interest rate has been in 2010. Fifteen year mortgages are at 4.24 with .7 points.

If you are looking to buy or sell home in the Tulsa area, this is a great time to do it! Visit my website at www.tulsasrealestate.com.

Tulsa Real Estate: Oklahoma Highest in Home Equity!

Susie Genet (Chinowth & Cohen Realtors) — Mon, 17 May 2010 16:01:16 -0700

Tulsa Real Estate: OK Highest in Home Equity

Oklahoma homeowners have the lowest percentage of negative equity in their homes than any other state. Survey results from CoreLogic recently released in the Tulsa World show that only 5.9% of homeowners in OK have negative equity compared to a national average of 23.7%. New York, with 7%, is number two and Nevada at 69.9% is the state with the highest negative equity. In Tulsa, like most of Oklahoma, credit is given to the steadiness of the real estate market over the past decades with no big highs or lows.

Tulsa Real Estate: Homes Sales Rise in March!

Susie Genet (Chinowth & Cohen Realtors) — Tue, 27 Apr 2010 09:16:55 -0700

Tulsa Real Estate: Home Sales Rise in March!

The Tulsa real estate market improved for March 2010 with 4% more sales than in March 2009. The Greater Tulsa Association of Realtors, as reported in the Tulsa World, released information that shows 934 homes were sold in March, which was an increase of 58% from February. Improved weather, the home-buyer tax credits and low interest rates may have helped boost sales. The median sales price of $126,000 is down slightly from March of 2009 when the median price was $127,500.

Tulsa Real Estate: Housing Starts on the Rise!

Susie Genet (Chinowth & Cohen Realtors) — Thu, 22 Apr 2010 14:16:51 -0700

Tulsa Real Estate: Housing Starts on the Rise!

As reported in the Tulsa World Thursday, April 22, housing starts were up 40% from February 2010 and are up 70% from March of 2009! The increase in housing starts may be due to the tax credit being offered. The current tax credit is for buyers who are under contract before the end of April and it allows $8000 for first time home buyers and $6500 for homeowners who have been in their homes at least 5 years. For more information on Tulsa homes visit www.tulsasrealestate.com.

TULSA REAL ESTATE: SPRING CLEANING YOUR HOUSE TO SELL!

Susie Genet (Chinowth & Cohen Realtors) — Wed, 21 Apr 2010 12:02:24 -0700

TULSA REAL ESTATE: SPRING CLEANING YOUR HOUSE TO SELL!

Here are a five simple tips to ready your house for a spring sale!

•1. Declutter: You do not live in your house the way you sell your house. Your beloved personal items may need to be packed away for the move in order to keep your home as clutter free as possible. Less is better.

•2. Clean & Stretch carpets: A major turnoff for buyers is lumpy, unstretched or stained carpets. They will see it as money they will have to spend immediately.

•3. Wash walls and touch up paint: The cleaner the better! A fresh clean house is a plus!

•4. Keep windows and mirrors clean and be sure to open up curtains and blinds before showings

•5. Clean up flower beds and plant some spring flowers!

A clean fresh uncluttered house is what todays buyers are looking for!

Buying or Selling a Home in the Tulsa, OK area? Join the Crowd!

Susie Genet (Chinowth & Cohen Realtors) — Thu, 03 Dec 2009 10:40:26 -0800

Buying or Selling a Home in the Tulsa area? Join the Crowd!

October home sales in Tulsa have again proven the strength of the Tulsa real estate market. Numbers released today by the Tulsa World showed homes sales in October were 4% higher than September 2009 and 14% higher than October of 2008. Although total sales for the year are still 6.6% behind numbers for last year, strong sales in October and September have helped to narrow the gap. The extension of the tax credit for first time home buyers and the addition of a tax credit for existing home buyers may should help keep sales strong.

Tulsa, OK Continues to Impress

Susie Genet (Chinowth & Cohen Realtors) — Tue, 01 Dec 2009 17:55:43 -0800

Tulsa, OK Continues to Impress!

Tulsa's economy has again received recognition. Forbes recently released their list of "America's Fastest Recovering Cities" and Tulsa was ranked # 12. Rankings were based on information compiled from five areas, unemployment, GMP (gross metropolitan product), foreclosures, home prices, and sales rates. Tulsa was ranked high for its low unemployment and reasonable home prices. Tulsa has been recognized this year for its job growth and livability.

Tulsa, OK Rises in Best Performing Cities Index

Susie Genet (Chinowth & Cohen Realtors) — Thu, 12 Nov 2009 08:22:57 -0800

Tulsa Rises in Best Performing Cities Index

Tulsa's economic strength continues to be recognized in the rankings. The Miliken Institute released its Best Performing Cities 2009 index and Tulsa rose from #72 in 2008 to #19 for 2009. As reported in the Tulsa World, Tulsa's rise is due to lower foreclosure rates, lower unemployment rates, the strength of the energy sector and the steadiness of the housing market.

Home Sales in Tulsa Improve in September

Susie Genet (Chinowth & Cohen Realtors) — Mon, 09 Nov 2009 13:54:10 -0800

Homes Sales In Tulsa Improve in September

Home sales for Tulsa improved in September 2009 almost matching sales for September of last year. As reported in the Tulsa World, 1057 properties were sold in September this year as compared to 1059 last year. This was an increase of 9% from August. Year to date sales continue to lag behind 2008 and are currently running over 8% lower.

First Time Homebuyer Tax Credit Extension: Getting Closer!

Susie Genet (Chinowth & Cohen Realtors) — Wed, 04 Nov 2009 18:13:19 -0800

The first time home buyer tax credit extension has taken another step forward towards being passed. A vote by the senate of 85-2 will move the bill toward a final vote. President Obama has expressed that he will sign the bill. In addition to giving a credit to first time home buyers, the extension provides an extra incentive for buyers who have been in their homes for 5 consecutive years out of the past 8. Those who qualify will be offered a new credit up to $6500.

Tulsa OK Home Sales for July: #1 for the Year

Susie Genet (Chinowth & Cohen Realtors) — Fri, 04 Sep 2009 09:58:03 -0700

Tulsa OK Home Sales for July: #1 for the Year

July was the best month for homes sales for 2009 in the Tulsa area. An article in the Tulsa World shows that 1140 homes were sold in July, an increase over June of 2009 but still short of July 2008. The $8000 first time home buyer tax credit has helped keep the market strong. The tax credit will end November 30, 2009 so many first time home buyers have been entering the market over the summer. Median home prices fell slightly, 3.7% from a year ago, to $131,000. This is probably a reflection of the number of first time home buyers purchasing smaller homes

Tulsa onTop Again!

Susie Genet (Chinowth & Cohen Realtors) — Sun, 30 Aug 2009 07:33:35 -0700

Tulsa on Top Again!

Tulsa has reached the top again! The Tulsa World recently released that Tulsa has been named #1 for the best cost of living. Business Facilities magazine lists Tulsa as #2 for its quality of life and #1 for the cost of living in metropolitan areas over 500,000. Real estate prices which have remained low and stable are one of the factors taken into consideration. Tulsa has been at or near the top on several lists this year, including Relocate America that ranked Tulsa #1 in 2009 among the top 100 places to live in America.

Tulsa Real Estate - Homes Sales Rise!

Susie Genet (Chinowth & Cohen Realtors) — Tue, 28 Jul 2009 08:37:21 -0700

Tulsa homes sales for June 2009 rose above the same month in 2008 for the first time this year! Numbers released by the Tulsa World today shows that 1110 homes were sold in June of 2009 which is nine more than were sold in June 2008. Low interest rates and the $8000 tax credit for first time home buyers have been motivators for the upswing in the market.

Tulsa's BOK Center in the Top 10!

Susie Genet (Chinowth & Cohen Realtors) — Tue, 14 Jul 2009 11:44:24 -0700

As announced in the Tulsa World today, the BOK Center continues to be one of the top venues in the US. Pollstar listed the BOK Center as #9 in the US and #23 in the US for the number of tickets sold at arenas from January through June. Shows such as Elton John&Billy; Joel's "Face to Face" concert and "Walking with the Dinosaurs" have been instrumental in the high ticket sale numbers. Many exciting shows are scheduled for the the BOK Center in Tulsa including Rod Stewart, Paul McCartney, and Britney Spears. The BOK Center has also been home to the Tulsa Oilers hockey games and Tulsa Talons arena football games.

Tulsa, OK Housing Sales Rise in May

Susie Genet (Chinowth & Cohen Realtors) — Sun, 05 Jul 2009 13:04:33 -0700

Tulsa Housing Sales Rise in May

As reported in the Tulsa World, homes sales rose again in May... although they are still behind last years numbers. 973 homes were reported sold in May which is up 6.7% from April. The median homes price has continued to hold steady this year but is also down from last year.

Tulsa Real Estate Market: Home Prices Rise!

Susie Genet (Chinowth & Cohen Realtors) — Wed, 04 Mar 2009 06:29:48 -0800

Recent data released in the Tulsa World shows that the Tulsa, OK real estate market continues to hold strong despite the national economy. Although sales of homes in January were down with closings dropping from 676 in January 2008 to 536 in January of 2009, the median sales price was up 4%. The average sales price also increased to $155,074 which was over 10% higher than the month and year before. Nationally, the median homes price was down almost 15% from the previous year. The $8000 tax credit for first time home buyers that was included in the stimulus plan is being credited for recent increased activity in the market.

Tulsa Housing Market Outlook Among The Top

Susie Genet (Chinowth & Cohen Realtors) — Sat, 10 Jan 2009 18:07:14 -0800

As reported in the Tulsa World, the Tulsa housing market continues to be among the top markets in the nation! Economy.com recently released a report showing Tulsa tied for number 6 among the best performing home markets. Because Tulsa's home values have shown a slow but steady growth, the market has not been impacted by the boom and bust of other major markets. Tulsa is predicted to lose 1.1% of its value in the housing market before it starts to recover. Only 2 cities in the report are expected to show no loss, McAllen TX and Syracuse NY and there are no cities expected to see appreciation.

Still good to be in Tulsa...

Susie Genet (Chinowth & Cohen Realtors) — Wed, 10 Dec 2008 11:43:16 -0800

Jobs gained in October

According to the Tulsa Metro Chamber Tulsa gained jobs in the month of October. The unemployment rate of 4.2% is still considered full employment and continues to be better than most of the rest of the country.

Tulsa ranks in Milken's Best Performing Cites report

Energy related industries and less subprime mortgage market exposure helped boost Tulsa's ranging in the Milken Institute's Best Performing Cities 2008 report. This year, the Tulsa area jumped to No. 72, up from 98 last year.

2008 MSN Real Estate Report of the 66 Cities Where Buying Makes Sense

Tulsa has been ranked as #14 of the best places to buy a home.

Relocate America Top 100 in 2008

Tulsa Oklahoma is ranked #5 out of the top ten cities in the country to live!

Home prices holding steady

The Tulsa World recently reported that while nationwide home prices have dropped over 9%, home prices in Tulsa have held steady over the past year.

Short Sales... some good news!

Susie Genet (Chinowth & Cohen Realtors) — Fri, 05 Dec 2008 08:15:53 -0800

I have been listing short sales in and around Tulsa, OK for the past 2 years and have worked with a number of different lenders, large and small! Over the past six months I have sensed a shift in attitude with the banks that I have contacted. They have been easier to reach and seem to have more streamlined processes in place to handle short sales. Am I just getting lucky or has anyone else noticed this!

Looking for help... a new short sale listing!

Susie Genet (Chinowth & Cohen Realtors) — Sun, 08 Jun 2008 09:21:05 -0700

To all short sale specialists, I have listed a new short sale and their second mortgage is held by Popular Mortgage. Has anyone worked with this company and have you had any success? I have worked with many other lenders, but I am not familiar with Popular.

I would appreciate any feedback you might have.

One of the best places to live---Tulsa, OK!

Susie Genet (Chinowth & Cohen Realtors) — Sat, 24 May 2008 08:47:05 -0700

Relocate America, which offers relocation resources for those on the move, recently selected Tulsa as number 5 on the list of best places to live! Some of the factors used to make the selection were economic growth, education, employment prospects, air and water quality, crime rate and housing options.

Tulsa is the second largest city in Oklahoma and maintains a low unemployment rate. Housing in Tulsa has remained affordable and home prices have continued to appreciate each year in contrast to the national market.

Tulsa is also the home to several universities including branches of OU and OSU, the University of Tulsa, Oral Roberts University, Tulsa Techonology Center and Tulsa Community College. Tulsa has several museums including the Tulsa Air & Space Museum, the Gilcrease Museum, the Philbrook Museum and the Tulsa Zoo & Living Museum.

I moved to Tulsa 5 years ago after having lived in many different states and have found it to be a delightful city. The rolling hills and heavily treed landscape were not what I expected when I thought of Oklahoma. Tulsa is very easy to navigate and offers the ammenities of a larger city without the traffic hassles.

A Short Sale Success Story!

Susie Genet (Chinowth & Cohen Realtors) — Sun, 23 Mar 2008 08:31:34 -0700

A short sale that was 45 days from list date to close! Yes, it did happen and everyone walked away from the table with smiles on their faces! From initial contact to close, the lender involved in this short sale was delightful to work with and willing to go the extra mile to get this done. We have a happy seller who avoided foreclosure, a happy buyer who got a good price for a home, and, of course, happy realtors who walked into this expecting the worst and found a clear and easy path from beginning to end. The lender saved themselves the expense and hassle of foreclosure proceedings, definitely a win-win for all involved.

A Short Sale Success Story!

Susie Genet (Chinowth & Cohen Realtors) — Sun, 23 Mar 2008 08:29:51 -0700

An Easy Short Sale? Could it be?

Susie Genet (Chinowth & Cohen Realtors) — Mon, 10 Mar 2008 17:22:59 -0700

An Easy Short Sale? Could it be?

For all of you (and I include myself in this) who have listed a short sale and struggled, argued and jumped through hoops with everchanging customer services reps in the Loss Mitigation Department trying to get them to respond to an offer, there is hope! I listed a short sale property just about one month ago. I promptly contacted the lender (a regional bank) to inform them that I had listed the property and spoke with a very nice lady in their loss mitigation department. She gave me her direct extension and fax line right away(!) Within three days, an appraiser from the bank was at the house. Three days after that the nice lady called me (imagine that, she called me!) to let me know that the house had appraised at what I had listed it at and to leave the price as I had it. At ten days on the market, I received a low offer for the house which I forwarded to the bank. Within five days (I know this is unbelievable) the nice lady called me again with a counteroffer that was only $5,000 above the original offer. The buyers agreed to the new price and by the next day I had all documents in hand to proceed! We are now two weeks from closing and the house was listed just 30 days ago.

I have been thoroughly impressed with how responsive this bank has been. Their staff has been professional and courteous every step of the way. I will definitely send my mortgage business their way!