That JFK quote teaches us that in a crisis, there are always dangers but alongside it are opportunities that we should recognize. The Tulsa real estate market is proof that there are indeed profitable opportunities during a crisis, such as the nationwide mortgage crisis which Tulsa homeowners (along with thousands of others across the country) experienced last year.

But instead of having a declining real estate economy because of all the foreclosures, the same foreclosures are being quickly resold. This made the Tulsa market one of the best and most desirable real estate areas in the entire US for those who wanted to invest in properties, both commercial and residential.

Tulsa's secret?

While other cities experience high numbers of foreclosures, Tulsa's real estate market didn't dive down to a dismal path for its prime economic atmosphere. All those foreclosures offered low prices to exceptional home properties that where otherwise too expensive before the crisis. Those low home prices, alongside the low interest rates, offered a tremendously good supply of quality homes to Tulsa home buyers, which many more can now afford.

It’s just the second quarter, but even at this early point in the year, the Tulsa real estate market is experiencing the best fiscal growth since 2008. Almost a thousand residential properties have already exchanged ownerships in the month of March alone. It’s a whopping 28.5% increase from just last month, and a 28% increase from last year. The first quarter of this year already outnumbered Tulsa's home property purchases of last year, and it’s been the highest recorded in this region since 2008!

A surplus of quality homes offered at very low prices and very low interest rates equals a healthy demand and supply. Amidst any financial turmoil, the end result will always be positive.

Contact me today to learn more about how you can take advantage of the foreclosures in the Tulsa area at (918) 231-5734.

Trying to think of a rockin’ place to celebrate the most green of holidays? Ponder no longer, as the biggest and best celebrations are going to take place in Tulsa! It doesn’t matter what your true heritage is, because St. Patrick’s Day in Tulsa is a day when everyone has a little luck o’ the Irish to be thankful for!

One of the biggest promotions in the state will be held on March 17th as the annual St. Patrick’s Day 5K blasts off with lightning speed. Not only is this a serious race with competitors coming from miles around, but you can have a little fun at the same time by partaking in the costume contest! All proceeds from this event benefit the Special Olympics of Oklahoma. Run to the end of the rainbow and claim your pot of gold before the other racers beat you to it. If running isn’t your thing, bring the family out for Shamrock the Ville: Running ‘O the Green. This fun walk is perfect for the whole family. Move at your own pace and enjoy live music, food, and drink.

The Irish Paws party will commence on March 12th at Hicks Oark on Mingo Road, where you people from all around will bring their pets together for the annual event. Costumes, competitions, and lots more will have your and your furry friend howling in the streets!

If you want to get out of the bar and into the theater, then plan on attending Howie the Rookie at the Tulsa Performing Arts Center. This Irish play is directed by Chris Crawford and stars Cody Shelton. Watch a nightmare ride through Dublin and see the seedy underbelly of a true Irish adventure. This one is for adults only, so leave the kids at home.

And speaking of the adults only events, how about an over 21 party at Arnie’s? This local favorite watering hole will host a St. Patrick’s Day part like no other, as the Irish vibe will course through the pub and make you feel like bursting out into a limerick. This 55th annual celebration will start at noon with the band kicking up at 5 PM. Live music includes performances by 4 Fiddlers, Cairde na Gael, and Larkin.

Don’t forget to grab your shamrocks and kiss the blarney stone goodbye! St. Patrick’s Day in Tulsa this year is sure to be one giant party that you will never forget, so take as many pictures as possible to review in the morning.

1. Wholesalers are often a great source for providing properties that offer big discounts. This is a resource that can save investors time when they are looking for investment properties in Tulsa. Rather than looking for one property at a time, finding a couple of wholesalers can result in a steady source of discounted properties for your investment business.
2. Another source that is often not considered is REOs. Checking with local banks may result in finding bargain properties. There is often less competition if you choose small banks compared to the larger chains that operate nationwide.
3. Realtors can be a good source for investment properties in Tulsa. Finding a couple of realtors to work with can result in a continual supply of homes. Negotiating the price of the homes may result in discounts that are good for your investment business.
4. Investors are finding that condemned properties are a good source for investing. Of course, you must do your homework and by-pass the ones that are in seriously bad shape in order to get the deals that will result in a return on your investment.
5. When looking for investment properties in Tulsa, probate and estate sales may be a good source. Often the sellers are very motivated which means bargain prices for the investor.
6. Another source of investment properties is the ‘for sale by owner’ niche. There are some who have equity in their homes or own them and deals can often be found. Although some for sale by owner sites are often a waste of time and money, there are legitimate sites. Lead list companies can be helpful if you are looking for homeowners with equity for your investments.

If you own Tulsa real estate, you will need to know about the 2011 tax breaks for homeowners. Many people are expecting a refund; therefore they want to file as soon as possible. Here is what homeowners will need to get the tax breaks they are eligible for and the maximum refund possible.

• Tulsa real estate owners may deduct the property taxes they pay to the city, county or state. Some areas collect taxes by including them with local assessments such as lighting for streets. These expenses are not deductible; therefore it is important to have your property tax statements so you can deduct what is allowed.
• If you bought a home last year or sold one, at closing a HUD-1 Settlement Statement should have been received. This paper has the credits and debits for buyers and sellers. It also contains items such as the property taxes paid by you at closing, prepaid interest and fees and discount points. In addition, tax credits for buying a foreclosure may be offered by your state.
• The best deduction for Tulsa homes is the mortgage interest. 100% of this may be deducted and this includes points that were paid at closing. You should have IRS Form 1098 and it should be included with your return when filing.
• Your mortgage credit certificate from a local housing authority and used to buy a home could result in a large tax credit depending on the percentage of the mortgage interest paid. Although they cannot be used for refunds, they can help to lower the taxes you will owe.
• Have you paid contractors to upgrade your Tulsa real estate? If so, receipts from these improvements that fall under the approved energy-efficient upgrades may save you money. A percentage of the cost any of these improvements such as furnaces, windows and insulation can be claimed.
• If you own rental properties, income and expense statements from the properties should be considered when filing your return. It is generally best to consult with a tax professional to ensure you are taking the right deductions.
• If your Tulsa real estate was foreclosed on last year or a short sale was negotiated and you received a Form 1099 from the lender, charging you for the amount of the debt that was cancelled. This amount, although cancelled is considered income to the IRS.
• Moving expenses to take a new job or different location with the same company are tax deductible if they meet IRS requirements. Receipts will be needed to show the expenses incurred from the move.

The latest information on home values places Tulsa, OK real estate at the top of the list. Tulsa as well as Oklahoma City challenged national trends with the greatest year-over-year increases in median home values from October 2010 to October 2011. They accomplished what the top 20 metro areas in the U.S. could not. None of the top 20 made the list. The cities are ranked in the top 20 by population size. The top ranking for Tulsa, OK real estate was based on information gathered by Zillow. 

Tulsa, OK real estate experienced a 6.2% increase in median home value to $101,000 from October 2010 to 2011. Among the nine markets this was the lowest value. Oklahoma City followed Tulsa with a 3.1% increase. 

The city of Pittsburgh, which is listed as #22 in size of U.S. metro population had 2.35 million residents in 2010. This information is according to U.S. Census data. Pittsburgh was the most populated metro area on the increased value list and was ranked #8, with only a 0.4% increase in median home value. Pittsburgh was the only metro city on the list with a decrease in population from 2000 to 2010. 

The average median home value increase of metro areas on the list was 1.6% during the one year period. Five of the nine markets had median home values around $100,000. Four cities pushed the high end of the scale for median home values. Honolulu’s median home value was $474, 200. Boulder’s was $304,000. The median home value of Fort Collins’ homes was $217,000 and Madison’s was $192,400.

Tulsa home refinancing overhaul set to help those struggling

Refinancing your Tulsa home could be much easier. The announcement by federal officials on Monday of an overhaul for the Home Affordable Refinance Program is aimed at helping many homeowners by easing existing rules and reducing fees. The program has been criticized in the past for not living up to expectations for helping homeowners who were struggling to make mortgage payments, which would in turn help to revive the stagnant housing market.

Those who own a Tulsa home could benefit from the changes if they meet certain criteria. The changes are for homeowners who obtained their mortgage through Fannie Mae or Freddie Mac and the ceiling that kept borrowers who owed more than 125% of the value of their homes from participating is being lifted. Lenders who were interested in being involved in the program are pleased with the waiving of reps and warranties. They say this was a vital change that lessened the financial risk of backing more home loans.

There are currently other programs being planned that would convert empty homes into rentals and temporary relief for owners of a Tulsa home that lose their jobs. By the end of August the program had helped about 900,000 homeowners refinance. However, there are approximately 3.5 million homeowners who are experiencing financial difficulties that the program does not help.

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Ready to purchase your Tulsa OK home?  Take the Test

How do you know if you are ready to purchase a Tulsa, OK home? The market is prime currently for buyers. The interest rates are low and there are numerous homes from which to choose. Here are a few questions that you will want to ask yourself if you are considering the purchase of a Tulsa, OK home.

•  Do you have the money available for a 20% down payment on a Tulsa, OK home?  This is the typical amount currently. If not, how much do you have and are you working towards saving for this amount?
• Do you have enough cash to cover your living expenses for eight months in the case of an emergency? Or do you live from month to month or only have enough savings for only a few months?
• How good is your credit score? Is it less than 620? Is it between 730 and 850 or between 620 and 730?
• What about pre-approval for a mortgage? Have you gotten this yet  or do you figure on finding the Tulsa, OK home you want to purchase first? Maybe you have gotten pre-approval and have the letter or maybe you have done some preliminary figuring online.
• What type of Tulsa, OK home do are you considering? Do you want a home that is a showplace? Do you want a stable home for your family or one that you can decorate in the way you please?
• Do you and your husband or wife agree on what type of home you want to buy or are you at odds over this aspect?
• Do you plan to stay in the city in which you live for at least the next 3 to 5 years? Are you planning to move before that time or are you not sure?
•  Is the job you currently have a secure full-time job or is it full-time presently but your company is laying people off? Is it a part-time or a temporary job?
• Have you considered a budget or do you feel this is not important? Do you have a few that you have worked on but really have not spent much time on them? Do you have a budget already planned to cover the expenses of buying a Tulsa, OK home?
• Have you thought about how much space you want the home to have – very large or you may know within approximately 500 feet. Maybe you are uncertain.

If you have put time into considering the aspects of owning a Tulsa, OK home, have a good credit score and a plan as well as the money put aside for eight months of living expenses in an emergency you are probably ready to buy.

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Halloween is rapidly approaching and this is the perfect time to find out what the scariest Halloween events in Tulsa have in store. There are a number of events to turn your blood cold. Let’s take a look at some of the best Halloween events in Tulsa.

•  The Psycho Haunted Path awaits. Experience the dark ride on the Scareage that begins your journey to meet what the woods have it store. Peer through the dense fog if you dare to see what lies ahead. The Shadow Box continues the journey into the house that is full of strange noises and glimpses of … something! Is it just your mind playing tricks on you? There’s no going back. You must go forward if you want to find a way out. The Psycho is one of the Halloween events in Tulsa that begins October 1^st and continues every Friday and Saturday through the 15^th from 7 p.m. to 11 p.m. On October 19^th and 20^th it will be open from 7 p.m. to 10 p.m., the 21^st and 22^nd from 7 p.m. to 11 p.m., from 7 p.m. to 10 p.m. on the 26^th and the 27^th and from 7 p.m. to 11 p.m. on the 28^th and 29^th. It is located at 1517 E. 106^th Street North in Sperry, Oklahoma.
• The Blood Harvest Haunted Trail will be open on October 1, 7, 8, 14, 15, 21, 22, 28, 29 and 30 from 7:30 p.m. until 11:30 p.m. The location is the Bartlesville Round-up Club. This is “40” acres of secluded fields. The Haunted Trail will thrill and scare you as you walk the woods and fields where the ‘creatures’ play.
• Visit The 13^th Ward. Are you ready to meet Dr. Munck’s disturbed criminals? They are ready for you. Attend one of the scariest Halloween events in Tulsa. You may run into some of those who were subjected to mind-altering experiments and tortures too shocking and dreadful to imagine while in the 13^th Ward. This is 40,000 square feet of terror waiting for you at 220 South Elm Street in Jenks, OK. Open every weekend from the 1^st thru the 22^nd and from the 27^th thru the 31^st, from 7:30 p.m. until 11 p.m. you can be ‘committed’ to the 13^th Ward.
• Another of the Halloween events in Tulsa is the Hex House. Do not bring the children! This is a walk through the haunted past of Tulsa. Descend into the nightmare of the Hex House and experience the sheer terror. Open September 29^th and 30^th, October 6, 7, 8, 13, 14, 15, 19, 20, 21, 22, and the 26^th thru the 31^st from 7:30 p.m. to 11 p.m., the Hex House is located at 8314 E. 71^st Street in Tulsa, OK.
  

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

10 Tips To A Sold Tulsa OK Home

Before listing your Tulsa, OK home, there are a few things that you can do to increase the interest from prospective buyers. Here are ten tips that may make your home sell faster.

1. Many buyers prefer a home that has an entrance, rather than a front door opening right into the living area. If you do not have an entrance, it is simple to create one.  The right furniture can separate this area.
2. Lighting is important – inside and out. The inside light should include sufficient lighting for tasks, decorative lighting – often used for highlighting certain areas – and ambient lighting when you need less.
3. Consider the floors of your Tulsa, OK home. Carpet is not as popular as it once was and today people are looking for hardwood floors. This is a look that does not lose appeal. If you cannot afford the installation of hardwood floors, Pergo is an option.
4. How is the area outside your home? Many families are looking for homes with yards for children. If you were considering the installation of a patio, you would be better off to leave the grass and just make sure it is neatly trimmed and free of clutter.
5. Are the closets of your Tulsa, OK home cluttered? Organized closets that have modern shelves are important. Drawers can be included in the organization.
6. Fixtures such as faucets, doorknobs, cabinet knobs and drawer pulls are not noticed as much as other aspects of the home unless they are mismatched or outdated. However, an updated faucet will generally be noticed in a kitchen.
7. The bathroom is enhanced by features such as whirlpools and marble counters. If your bathroom does not include luxury items, concentrate on creating a better look. Modernize items such as mirrors.  
8. Are your kitchen countertops old and stained or chipped? Changing these and adding slab such as granite, marble and concrete can make a huge difference to the look of the kitchen.
9. Another aspect of the kitchen is the appliances. The stainless steel look is one that many prospective buyers get really excited about – it makes them feel like they are better cooks since this type is used in commercial kitchens.
10. Furniture that is built-in to the Tulsa, OK home, such as entertainment centers and bookshelves are often a plus for prospective homebuyers. Others would rather be able to arrange items where they want them. The best idea is to have this furniture look built-in but actually be freestanding which buyers can choose to buy.

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Tulsa OK Real Estate Architecture in Maple Ridge

There are a number of architectural styles used in Tulsa, OK real estate. One area, Maple Ridge, Tulsa, OK is an example of this diversity. There are areas of this neighborhood containing homes that were built as early as 1907. With a large part of the neighborhood listed on the National Register of Historical Places, you will find Tulsa, OK real estate here in the following architectural styles:

Adam – This style includes a semi-circular fanlight over the front entrance. There are an even number of windows on each side of the main entrance and they are double hung windows. The beams are flat or keystone and the roof is either side gabled or hipped.

Bruce Goff – This architectural style used on Tulsa, OK real estate is characterized by exposed structure, based on the principles of Organic Architecture. Bruce Goff was a student as well as a friend of Frank Lloyd Wright and is widely recognized for the originality and creativity of his designs.

Classical Revival – Many Maple Ridge, Tulsa, OK homes have an entry porch of 2 stories that dominates the front of the home. They have 4 columns and a semicircular fanlight over the front door. The windows are placed in equal numbers to each side of the front door.

Colonial Revival – The front door of this Tulsa, OK real estate contains a decorative crown or an entry porch with sidelights or a fanlight. The windows are symmetrical (either in pairs or triple) and the front door is centered.

Craftsman – Homes of this style have low-pitched gabled roofs and an overhang eave that is wide and unenclosed. There are decorative beams under the gables and the bases supporting the porch extend uninterrupted all the way to the ground.

Georgian – The front entrance door is paneled and has decorative crown. The cornice has a decorative molding and the windows are double hung. They are in rows around the main entrance. There is either an arch or changed brick patterns above the windows. The roof is usually hipped or side gabled.

Prairie – This architectural style used for many Maple Ridge, Tulsa, OK real estate is a two story home with porches. The roof is low pitched and has wide eaves that overhang. The detailing stresses the horizontal lines and the porch supports are square and quite large.

Tudor – The façade of this style of home contains cross gables that are prominent and the windows are tall and narrow. They are in groups and are multi-paned. The roof is steeply pitched and there are side gables. The home contains very large chimneys.

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Broken Arrow Ranked 8^th for Best Places to Retire

The Broken Arrow community has received the honor of being No. 8 of 25 cities named by MONEY Magazine as the “Top 25 Best Places to Retire” in 2011. Broken Arrow was the only city in Oklahoma that made the list and the they were ranked for entertainment options in addition to their local health care systems.

When describing the advantages available in the Broken Arrow community, MONEY Magazine wrote, “In the past few years alone, Broken Arrow has seen some notable new developments.” They were referring to the 20,000 square-foot YMCA, a 68-bed hospital and the performing arts center that hosts a variety of programs enjoyed by seniors. In addition, this community has many hiking and biking trails and six golf courses. There are also numerous civic groups that are an advantage for retirees in the community as well as two community centers.

The homes here cost approximately half of what many communities cost, starting in the low $100,000s. The mayor, Mike Lester, says the Broken Arrow community is starting to be noticed by others across the nation as a wonderful place to live. He also said that a movement in the direction of being recognized year after year for the availability of the opportunities and amenities provided by the city is being established.  

The cities ranking higher than the Broken Arrow community were:

1. Marquette, Michigan
2. Cape Coral, Florida
3. Boise, Idaho
4. Danville, Kentucky
5. Weatherford, Texas
6. Southaven, Mississippi
7. Pittsburgh, Pennsylvania

The number nine and ten spots were Lake Charles, Louisiana and Winston-Salem, North Carolina. The Broken Arrow community was also ranked in the 2010 MONEY Magazine’s Top 100 “Best Places to Live.” They have received various recognitions nationally during the past five years as well.

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Maple Ridge – Tulsa, OK Real Estate Spotlight

Maple Ridge in Tulsa is a historic district. It is bordered by Hazel Boulevard to the south, Midland Valley Railroad right of way to the west, Peoria Avenue to the east and Highway 51 to the north. The area that has been zoned by the city with Historic Preservation Overlay is known as North Maple Ridge. It is between 15^th Street and 21^st Street. Tulsa, OK real estate located here is divided into subdivisions. The north neighborhood is the oldest among these neighborhoods.

Southside Addition was planned and mapped in 1907. Over the next 30 years the north, south, southwest and central sections were constructed and are adjacent to each other. There are several large lots and homes here that were built according to the states first subdivision rules and regulations. They are quite diverse and practically every type of architectural style was used.

As the oldest neighborhood in Maple Ridge in Tulsa, the north is mainly mansions that are made of clapboard and two story homes made of brick. Many of the mansions are from 1912. The south and the southwest neighborhoods are made up of homes from the 1920s and the 1930s. They are mostly two story bungalows made of brick and styles similar to classical architecture as well as Spanish stucco. The central section contains homes that were from a later date and they are somewhat larger than the northern mansions.

Tulsa, OK real estate in this area was mainly constructed by the people who became wealthy due to the Glenn Pool Oil Strike of 1905 as well as the Cushing strike of 1912. The development of this neighborhood was closely tied to the petroleum and banking industry in the 20^th century. The homes here are highly desired by those who make an upper-middle income within Tulsa.

The Maple Ridge Association has been in existence since 1964. This was the first neighborhood in Tulsa to be listed in the Oklahoma Landmarks Inventory. Maple Ridge in Tulsa was listed on the National Register of Historic Places in 1983.

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Tulsa Events - September 2011

Tulsa events for September are gearing up and residents and visitors can enjoy a variety of activities. Restaurant Week is one that will be a great opportunity to sample the area’s eateries and help to support a good cause. Fighting hunger in Oklahoma is the focus of this Tulsa event that goes from September 10 to 18, 2011. More than 30 restaurants will be offering prix fixe meal options or a three course meal for a set price. An appetizer, entrée and a dessert will be served and for each one purchased, 10% of the cost will be donated to the Community Food Bank of Eastern Oklahoma’s Food for Kids program. Up to $25,000 of the donations will be matched by the George Kaiser Family Foundation. 

Another of the Tulsa events that can be enjoyed is the Hispanic Fest. The festival will run from September 16 thru 18, 2011 at 6th and Boston in the downtown area of Tulsa. Organized by the Oklahoma Hispanic Chamber Foundation and the Tulsa Hispanic Chamber of Commerce, the celebration will be held at Chapman Centennial Green Walk Park. The hours are Friday from 5 p.m. to 10 p.m., Saturday from noon to 11 p.m. and Sunday from noon to 9 p.m. Admission is free and there will be entertainment, art and food. This is an event for the whole family. 

Tulsa events will include the Oklahoma Scottish Festival from September 17th through the 19th at River West Festival Park. This is an important celebration of the Celtic heritage and history of Oklahoma. Come and learn about your Scottish lineage and family history. There will be a wide variety of highland games, music, crafts and food. The musical entertainment will feature local as well as national entertainers. 

The Scottish Festival will include drumming and pipe band competitions, solo piping and Scotch and Irish dance demonstrations guaranteed to provide fun for the whole family. In addition, there will be Scottish craft vendors and heavy athletic competitions featuring more than 60 athletes. Workshops during the day and demonstrations of the traditional domestic skills of the Scottish will also be a part of the activities. 

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Current prices for buying a Tulsa home are cheaper than renting one. The demand for rental homes has increased dramatically recently. This, combined with the lower prices of homes, has resulted in the purchase of a two-bedroom home in many major cities across the U.S. being less expensive to buy. This is according to Trulia, a real estate web site. Their findings show that buying in 74% of the largest cities across the country was cheaper than renting. Tulsa home prices have followed the trend in other cities and the interest rates are at their lowest levels. 

• Do you have the cash needed for closing? Add the down payment and on a typical home, this could add up to approximately $40,000. 
• Do you plan to stay in the home for several years? When buying and selling real estate many of the associated costs can end up costing more money. 
• Can you handle the costs of owning a Tulsa home? This will include other things besides the mortgage payment. There are utilities, property taxes, maintenance, insurance and other expenses. 
• Not all owners of a Tulsa home can take advantage of the tax credits for homeowners. The mortgage interest that is deductible can help to lower taxable income, but this normally benefits higher income homeowners. The average borrower usually must take the standard deduction.

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Tulsa, OK Home Mortgage Rates Expected to Rise due to U.S. Debt Downgrade

Tulsa, OK home mortgages rates could increase due to the recent debt downgrade. The recent downgrade by Standard & Poor, one of three major credit agencies, could have an affect on the rates for potential homebuyers. The lower credit rating for government bonds basically means the same thing as when consumer credit ratings are low. There is more risk involved in loaning money since the borrower is deemed less reliable. 

Although not every type of borrowing is directly related to the government’s credit rating, future Tulsa, OK home mortgages backed by Freddie Mac or Fannie Mae could result in higher rates. These two companies are backed by the government and their credit ratings were part of the downgrade by S & P. About half of all mortgages in the U.S. are owned or backed by these two mortgage companies. 

For those who are considering the purchase of a Tulsa, OK home in the future, the rates will not likely be affected anytime soon. However, for those who are considering the purchase of a home, it would be a good idea to ask about locking in mortgage rates. They have been at an all time low recently and these rates are directly linked to 10-year Treasury bond yields. Should the yields increase; mortgage rates will increase, although for the time being it does not appear that they will increase due to the downgrade. 

Additionally, home equity loans for a Tulsa, OK home as well as variable rate mortgages could cost more. When the housing market collapsed, adjustable rate mortgages suffered a high failure rate. The number of new home loans with adjustable rate mortgages is less than 5% of the market today. 

With interest rates being so low in the last few years, many homeowners refinanced to fixed-rate mortgages, so it is uncertain how many adjustable rate mortgages are still in existence on older loans. For homeowners who do still have adjustable rate mortgages, a change in their interest rates would depend on the loan being linked to Treasury rates, the prime rate or federal funds rate.

A benefit for those who own a Tulsa, OK home is that most adjustable rate mortgages as well as home equity loans are linked to the federal funds rate. This is set by the Federal Reserve, therefore this should protect borrowers. The Federal Reserve does not plan to increase rates for “an extended period.” 

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Think you know Oklahoma Festivals - Test your Knowledge

Oklahoma is known for it’s festivals. There are many held at different times of the year. Are you up to date on your Oklahoma festivals? Check you knowledge and see with the following questions?

1. What festival is Guthrie famous for?

a) National Sand Bass

b) International Bluegrass

c) Red Earth

d) Canna

Answer: b) International Bluegrass Festival

2. What festival is Muskogee famous for?

a) Mozart

b) Calf Fry

c) Rose Art

d) Azalea

Answer: d) Azalea

3. What about Stroud? Do you know what festival it is famous for?

a) Czech

b) Falls

c) International Brick and Rolling Pin

d) Will Rogers

Answer: c) International Brick and Rolling Pin

4. What festival is Jay famous for?

a) Huckleberry

b) Kolache

c) Strawberry

d) Pottery

Answer: a) Huckleberry

5. When it comes to Oklahoma festivals, what is Vinita famous for?

a) Little Italy

b) Calf Fry

c) Pottery

d) Mason Dixon Line

Answer: b) Calf Fry

6. What is Noble famous for?

a) Jim Thorpe Museum

b) Troy Aikman

c) Lake Eufala

d) Rose Rock Museum

Answer: d) Rose Rock Museum

7. What festival is Grove famous for?

a) Canna

b) Mozart

c) Pelican

d) Kolache

Answer: c) Pelican

8. Which is Oklahoma’s largest lake?

a) Lake Eucha

b) Lake Eufala

c) Arkansas River

d) Lake Keystone

Answer: b) Lake Eufala

9. What is Tulsa famous for?

a) Oil capital of the world

b) Jim Davis Arms Historical and Historical Museum

c) Roger Miller

d) Largest rural industrial park in the nation

Answer: a) Oil capital of the world

10. What is Tahlequah famous for? 

a) Pretty Boy Floyd

b) OK’s second largest city

c) Capital of the Cherokee nation

d) Circus City, USA

Answer: c) Capital of the Cherokee Nation

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!

Buying a Tulsa, OK home takes careful planning. The purchase of a home is something that you will have to live with for many years. Choose carefully and avoid the following mistakes when deciding on the Tulsa, OK home that you will ultimately purchase. 

1. Always have a professional inspector check out the home. There coul d be hidden problems that you might not see when touring the home. Wiring that needs replaced or a leaking roof could mean expensive repairs.
2. Get pre-approve before shopping for you new Tulsa, OK home. Not only will you know how much home you can afford, but many sellers are more comfortable with a potential buyer who is pre-approved. 
3. Do not buy a home that is more than you can afford. You may have been approved for $300,000, but you do not have to spend that much. Work out a budget and remember the payments are only part of the expenses.
4. When choosing a real estate agent to help you find a home, interview them the same as you would anyone else who will be working for you. See how they interact with others. Are you comfortable with this agent? 
5. Look at the home you are living in and consider what you need that is not present in this home. The Tulsa, OK  home that you purchase should not be a duplicate of the one in which you presently reside. 
6. Many homes today are listed on the Internet and virtual tours are a part of the listing. Personally tour the home and do not buy based on the listing. 
7. Do not buy the first home you see. Often people will fall for the first one and do not think they need to look at other homes. At least three other homes should be toured to compare prices. 
8. When touring a home, concentrate on square footage and floor plans. Do not allow the decor of the home to be your deciding factor. 
9. Learn the real estate language. A Tulsa, OK home being sold 'as is' usually means it is a fixer upper. 
10. Check out the neighborhood before purchasing. Is the home close to amenities? Does it have a high crime rate? Visit on  different days and at different times. 
11. Do not buy the most expensive home on the block. Rather than appreciating in value, it will depreciate and they are often harder to resell. Look at the average cost of Tulsa, OK home in the neighborhood.
    

After purchasing a Tulsa, OK home you find repairs are needed that were not uncovered during the home inspection. The home may contain mold, the roof might leak or it can have mice. Why weren’t these problems found when the inspection was performed? Many times after the purchase repairs that should have been performed prior to the sale are uncovered and they can cost thousands of dollars. To lessen the chance of this happening when buying your Tulsa, OK home, the following tips can be invaluable. 

1. The home inspector that will be used should be interviewed. Find out exactly what they check when doing the inspection. Do they actually climb out on the roof of the Tulsa, OK home or do a visual inspection only? The inspector may be recommended by your real estate agent and most first-time homebuyers do not realize that they can vary according to their experience and knowledge. Ask about their experience and what it entails. 
2. Consider your lifestyle - current and future - since many aspects of home safety are dependent on who is living in the home. Outdated features of the Tulsa, OK home that are safe for adults can be hazards for children. Safety is a consideration that becomes more important for households that will be home to elderly adults and children. The location of bedrooms and presence of lead paint are two of the concerns of buyers with children. 
3. Do an inspection of the Tulsa, OK home yourself. Many problems can be corrected before the purchase if the buyer is aware of them. Homes built prior to 1978 may contain lead-based paint. This can be an expensive undertaking requiring a professional certified by the Environmental Protection Agency. Often the sellers can pay for part or all of the cost of repairs that will need to be performed. 
4. Before purchasing the Tulsa, OK home, there are other inspectors that can be brought in to check for specific problems. They include electricians, lead-testing and even child-safety. Estimates for repairing any problems can be obtained before buying the home. 
5. If the worst happens and the problems are found after purchasing the Tulsa, OK home, do the repairs that require immediate attention first. Problems that can wait can be spaced out and taken care of later. This will help keep your budget under control and help to avoid getting caught up in expensive credit card debt.

If you would like more information about Tulsa homes, please give me a call at 918-231-5734 or visit my Contact Us page and send me a quick message.  I’ll respond right away!