10 Pending Luxury Real Estate Sales

The Market is doing well in the luxury real estate category in the Tulsa, OK metro area. There are presently 10 pending home sales with a list price over $1,000,000 waiting to close. Five days after Christmas is not the time most people think of homes selling but full-time real estate professionals with McGraw Realtors, Tulsa's leading seller of executive and luxury homes, haven't hibernated for the winter. Eleven of the twenty side of the pending luxury home transactions are being represented by a McGraw associate.

View luxury homes in Tulsa and the surrounding area currently for sale.

Darryl Baskin is listed in Who's Who in Luxury Real Estate and Tulsa's only member of The Board of Regents, the world's premier group of luxury real estate brokers. Baskin is a real estate broker at McGraw Realtors in Tulsa, OK.

YTD Market Report - October 2007

The market has kept pace with last year through September but showed a minor slowdown through October for residential single-family homes. Listings for the year are up by 579 which gives buyer a few more choices for homes in the Tulsa, OK area but out of a total of 23,762 listings processed for the year, this is not really notable for Oklahoma home buyers in the Tulsa area.

Closed sales are down by 218 but again, with a total of 12, 357, the percentage is small. My personal concern is that the combined small percentages can have an impact if they continue.

My kudos to the Greater Tulsa Association of Realtors who have begun a campaign to educate the public on the strength of the Tulsa, Oklahoma housing market. Much of the challenge to Tulsa, OK Realtors has been combating the national media's portrayal that the no real estate will sell anywhere in the country and everything has decreased in value by 50%. The fact is the Tulsa metro area home sales have increased an average of $8,435 through October.

Shop homes for sale in Tulsa, OK

Darryl Baskin is the Managing Broker for McGraw Realtor's office at 308 N. Aspen Ave. in Broken Arrow, OK 918-258-2600

Good Thing You're in Tulsa

The Greater Tulsa Association of Realtors recently began a campaign to make the public aware of the inaccuracies of the national news media in regards to the Tulsa real estate market. The campaign will focus on the stability of Tulsa real estate, the fact that there was no bubble here to burst and that home sales have remained at a steady pace. The average homeowner in Tulsa, OK can expect a 3-5% growth rate in their property value.

Thinking about selling? Find out what your property is worth.

Darryl Baskin is a Tulsa, OK real estate broker for McGraw Realtors. 918-258-2600 or 800-942-9312

Shadow Ridge Great Pumpkin Give-a-Way

The south Tulsa neighborhood of Shadow Ridge came out in numbers this past week to support the Great Pumpkin Give-a-Way sponsored by The Baskin Real Estate Specialists. Baskin team members were eager for the opportunity to give back to the family oriented subdivision and what better way to do so than by passing out free pumpkins to local residents donated by Darryl Baskin .
As experts in the real estate profession it is imperative that the Baskin Real Estate Specialists remain flexible with market changes, while remaining loyal to Tulsa and the Green Country market. This is done by building personal relationships with clients.
Taking an afternoon to hand deliver pumpkins is a chance to personally say thanks for years of support to past clients and puts Baskin Team Realtors in front of potential new clients to demonstrate what our business means to us. "Being a leading Realtor is nice recognition, but being involved and leading in our community is a much greater accomplishment", says Darryl Baskin.

For more information regarding Shadow Ridge or South Tulsa Properties go to http://www.darrylbaskin.com/

Shadow Ridge Pricing Market Update

According to the Tulsa Metro MLS, the Shadow Ridge Subdivision, located in the Union School District, is not lacking in activity. There are 10 current active listings and 4 pending, this absorption rate results in 2 1/2 months of active inventory. If you live in this South Tulsa neighborhood and want to sell your home in the shortest time period possible, be strategic.

• Listen to what the market is saying about home values in order to determine a price position. The National Association of REALTORS would suggest that if your house is priced correctly, you should get one offer for every ten showings. In a normal market you should get 1 to 2 showings per week.

If you do not get any showings, the market is talking and you may need to adjust your price. Additionally, if you have multiple showings and no offers, that is the same as no showings no offers and you need to take a look at the price again. If you have questions about Tulsa area real estate or need the most up-to-date Real Estate news on Shadow Ridge contact amy@darrylbaskin.com or go to http://www.darrylbaskin.com/

Will Tulsa be hit with Foreclosure Crisis?

This Phoenix, AZ home is in foreclosure like thousand of others. Many areas of the country which saw double digit gains in real estate values are now experiencing a crisis of foreclosures due to a credit crunch from over zealous lending practices and out of control speculating. Tulsa, Oklahoma has not seen this happen in our market and it is not a new phenomenon for Green Country to be counter-cyclical to the rest of the United States.

Tulsa has generally enjoyed a stable real estate housing market. While investors rarely see large gains in short periods, they are rarely faced with sharp declines. Many buyers from these more volatile markets have sought refuge in the Tulsa, Oklahoma housing market by either cashing out and relocating or simply hedging their investments and including Tulsa real estate in their portfolio.
Many commercial real estate developers have had an eye on Tulsa, too since Tulsa has ranked high on several "best" lists for quality of living, cost of housing, and emerging market surveys.

For more information on home for sale in Tulsa, OK and real estate investing in the Tulsa, OK metro area, contact the Baskin Real Estate Specialists of McGraw Realtors at 918-258-2600.

Darryl Baskin is a real estate broker, host for The Future of Real Estate Television/Radio programming and operates The Baskin Real Estate Specialists at McGraw Realtors in Tulsa, OK. info@darrylbaskin.com

Tulsa, Oklahoma represented at Phoenix real estate conference

Over 1500 of the country's best real estate brokers and agents met in Phoenix, Arizona this month to network and share ideas for helping their home sellers and home buyers in their respective markets to make better decisions with their real estate investments. I was among the speakers at the annual event but, as always, find the information learned as an instructor is probably more than if I were simply an attendee.

It is refreshing to be one of those in attendance who could boast of an stable and prosperous market since most of the rest of the country is suffering from economic woes.

Howard Brinton is the founder of the network of real estate agents called Star Power which is an elite group of agents who have been selected from all of the agent in the country to be "Stars" in his network and to share success tips with other agents. When I started my real estate career at only 19 years old, I was heavily influenced by the information provided by the Stars of Star power and today credit Howard's organization for my leadership status among the 1.4 million real estate agents in the country. Thanks for your long distance mentor-ship Howard!

Santa Fe Driveaway

This year the Chamber is working with AUTOMAX Hyundai of Broken Arrow and featuring the Santa Fe GLS. Purchase a ticket for your
1 in 500 chance to
drive away
in a
2007 SANTA FE GLS or take the
CASH - $15,000!

We
INVITE
EVERY CHAMBER MEMBER to get involved in this
fundraiser!!

We are offering
an incentive!! Between now and Friday,
August 24^th we are
giving away, that's right!
Your eyes aren't that old yet!
GIVING AWAY a
 SANTA FE raffle ticket to the person who sells the most! Challenge your co-workers! If you're the boss, offer an additional incentive to help get this off the ground! The drawing is just under two weeks away and we are in need of help to get these sold! Show your support of this event! Stop by the Chamber to purchase your ticket or log on to www.bixbychamber.com Postcards are available that can be handed out or even mailed! To view additional information log on to santafedriveaway.com

Free House Appraisals Offered

Pinnacle Mortgage, a division of ONB Bank announced free appraisals for a limited time for customers who present the above certificate. The free appraisal offering is valued at more than $300. See certificate for details. Jeff Sargent of Pinnacle Mortgage can be reached at: Office: 918.392.6572 or Cell: 918.636.0630 for loan information.

Jenks Ranks High in Places to Live

Money Magazine ranks Jenks, Oklahoma #43 on the best places to live for cities under 50,000 population. With a median home price of $195,660 and average property tax rate of only $1626, Jenks has become a fast growing suburb of Tulsa. New additions are on the board for shopping and housing. The most recent success of Riverwalk Crossing at the Arkansas River, lends credibility the speculators are on the right track.

Homes for sale in Jenks

Tulsa MLS Introduces Better Tracking

The Tulsa Multiple Listing Service has recently included a new calculation for member Realtors to access to track the number of days it takes a property to sell. Previously, the reported market time to sell a listing was the number of days the property was listed with a single listing. Under the new method of reporting, cumulative days are noted so a property listed with three brokers totaling 465 days before it sells will accurately reflect this data. Using the new cumulative days field makes it possible for skilled real estate brokers to have a full understanding of the total market time and absorption rate. Without this complete data, Realtors are left to conjecture while advising their home seller clients.

Bradford Oak Completes Entry

Homeowners in the Bradford Oak subdivision at 92^nd and Yale Avenue have just seen the completion of the entry gates last week. The substantial reconstruction of the entry allows better access for residents since the widening of Yale. The completion of the gates was delayed due to rain and weather which would not allow the paint to dry. Royce Scotchdapole was contracted by the homeowner's association to build the entry gates. Landscaping is scheduled to be replaced shortly. Bradford Oak is a luxury home development established in the 1990's consisting of only a few homes on a single street. Owners enjoy quick access to the Creek Turnpike and south Tulsa convenience.

Luxury in River Oaks Estates

Hollinger and Associates displayed their masterful construction in Bixby, Oklahoma at a special preview of their newest home located in River Oak Estates located near 115th Street and Sheridan Rd.. The luxury villa courtyard greets visitors with a pool and fountain, outdoor fireplace and separate entertainment facility which provides an area for rest and relaxation with friends that won't encroach private living spaces.

The custom wood cabinetry and woodwork in the home is true art including the entry into the study which was designed to match the entertainment center and balance the fireplace in the great room. Few homes are graced with such thoughtful design.

This property is listed with McGraw Realtors in Tulsa, OK for $2,500,000 USD. For more information, contact call 918-258-2600 or email becky@darrylbaskin.com.

The Fountains are Running

Fountains are running at the newly completed entrance of Emerald Falls in Broken Arrow, OK. The residential development has recently seen the completion of the model homes and landscaping is being planted. The 18 hole golf couse opening has been delayed due to record rainfall and is scheduled to open September 1st.

Progress as Promised

Builders visited the Wagoner County permit office this week to obtain necessary permits to break ground on a new project at Emerald Falls. The clubhouse is slated first of numerous amenities to be constructed in the neighborhood. Tom Morris of Emagine Homes has been selected by developers to head this building project. Amy Maples, of The Baskin Real Estate Specialists held scheduled open house at the new Adventure Community and says, "home buyers are intrigued by the unique concept of this upscale master planned community which incorporates a family centered living with amenities well suited for an active life style." For more updates on the progress visit http://www.darrylbaskin.com/

Homebuilder Brings “Old Fashioned” Craftsmanship.

Bruce Gardner of Gardner Construction LLC, has been building homes in Tulsa for more than 25 years. His experience as a builder goes beyond being a coordinator of protocol. From high rises to 10,000 square foot estates, he utilizes an understanding of how homes are built and delivers an artisans approach to “old fashion” craftsmanship. The real significance of the entire building process is “why you do what you do,” says Bruce. Today homes are being outfitted with all the bells and whistles but the pillars of excellence cannot be replaced by a temporal façade of appliance packages and light fixtures.
It is assumed by most home buyers that builders will practice good “know-how” in order to erect and construct a house ready for market. Realtor Darryl Baskin says “Builders are managers of a construction project so having a knowledgeable manage of you home project is critical to having a competently constructed home at completion.” With more than 250 registered homebuilders in the Greater Tulsa area, deciding on a builder can be extremely difficult. Often, processes of building are subcontracted out to task doers. Although subcontractors are expected to be qualified for the specific job, importance is lost when the assignment is completed. The crew packs up and then leaves the home site. Having good contractors for special projects and installations is important but does not always mean excellence for the finished home. True craftsmanship must remain rooted in exercising skill and proficiency from start to finish and this begins with the builder. Bruce combines the know-why with the know-how to create a finished home with the features of excellence that a home buyer wants.

For more information on Gardner Construction visit http://darrylbaskin.com/gardner_construction

Tulsa’s Current Market Activity

Tulsa's real estate market is doing well – stable - unlike the rest of the country. We did not enjoy the rocketing prices but aren't suffering the plummeting fall either. For your own protection, in case you have real estate investments, be aware that residential plats were very high last year and that indicates a scenario for potential overbuilding. That hasn't happened (and may not) but the lots are there and the potential exists. My commercial real estate department is unbelievably busy. I would expect a cycle to show a normal downturn after the numbers of current and proposed projects are completed.

Emerald Falls Delays Golf Course Opening

Emerald Falls Golf Course, has delayed the opening of the course due to record rainfall in the area. Emerald Falls golf course is part of the Adventure Community concept where new homes have just been completed by James Applegate of Applegate Properties and Tom Morris of E-Magine Homes among other home builders.

Home Buyers Buy Homes; Make Sure Your Realtor Knows This

It was an interesting conversation I had with a real estate broker who was pleading her case for how much she deserved to keep a listing she had been trying to sell for nearly two years. She told me she had worked so hard to sell the property and had indeed sold the property once and the seller was just not reasonable therefore the sale was lost. Intrigued, I asked the home seller for the story about the buyer he ran away. "All I asked for was more earnest money at a time when the so-called buyer did not close at the time he agreed. We had been in contract with this 'buyer' for 90 days-during which my house was off the market and I was losing valuable selling time."

I would have fired the previous broker too. Home buyers should be defined as people who buy homes- actually close on them. Until then, they are home shoppers and good Realtors know the difference. Make sure your Realtor is clear about what they expect of home buyers and how they will protect your interests during the sale of your home.

HOME SELLER'S TIP: REALTORS SHOULD NEVER BE HIRED SOLELY ON THE TASKS THEY WILL PERFORM FOR YOU (OPEN HOUSES, ADS, AND GIMMICKS.) YOUR PRIMARY GOAL SHOULD BE TO SELL YOUR HOME. YOU ARE NOT PAYING AN HOURLY WAGE. INSTEAD, YOU ARE PAYING FOR AN ACCOMPLISHED GOAL.

darryl baskin is a broker-associate with mcgraw realtors in tulsa, oklahoma. For information about darryl's service to home sellers and home buyers, call 800-942-9312 or visit www.darrylbaskin.com.

Keep your cool and your cash

With summer soon approaching it is time to prepare for the Oklahoma heat. Most home owners know to change your air conditioner filter on a regular basis but to really get the most out of your AC unit and save money, there are a number of energy saving tips that you should consider doing before you begin to use it for the season. Just as you pay your bill each month, change the filter each month, some manufactures may recommend changing filters less often, however in the spring and summer when allergens are in the air it is best to change them more frequently. Shade the area when the unit is housed. Air conditioners with proper shading can be up to 10 percent more efficient over a cooling season, according to the U.S. Department of Energy. A shaded area can have a significantly cooler temperature, preventing the AC unit from consuming extra energy to do its job of cooling the air. Be mindful of debris when manicuring your lawn. Opinions differ on the distance you should keep trees, shrubs, mulch and other materials from the unit. It is wise to keep a four to five foot space for proper air circulation. Clean the coils and casing with a hose. You will need to disconnect the power before spraying the unit, and for specific directions you may want to consult the manufacture. Once you have taken these season steps to keep cool, try a bit of self discipline and raise the temperature setting. If you become acclimated to a higher temperature early in the season you shouldn't suffer and the savings just by one degree can be dramatic, close to 8-9 percent. For a referral on a reputable repair or servicing company contact The Baskin Real Estate Specialists at info@darrylbaskin.com

Homebuyer “101” - Get the Facts! Workshop

Kick off National Home Ownership Month with

Home Ownership Tulsa (H.O.T.)
and its partners.

 

Central Library Saturday, June 2 w 9:00 a.m. - noon	Martin Regional Library – Spanish Session Saturday, June 30 w 9:00 a.m. - noon
Hardesty Regional Library Saturday, June 16 w 9:00 a.m. – noon

 

Do you wonder if you would be better off buying rather than renting a home? Do you ever wonder how expensive of a home you could realistically afford? Do you wish you could build up equity in a home?

If you dream of owning your own home, attend our seminar and you will learn the steps required to purchase a home, including how to qualify for first-time homebuyer benefits and programs. Learn how to access various city, county and state programs to cover most of the costs you will be faced with to purchase your first home. To help potential first-time homebuyers understand all aspects of the home-buying process, this informative, interactive workshop provides valuable instruction on all important pre-purchase decisions and how to qualify for a home loan.

Participants also may learn:

• What to expect throughout the loan process;
  
• How their credit scores will affect their mortgage interest rates and fees; and
  
• The meaning of common real estate terms
  

Participants can receive a FREE credit report analysis and one-on-one consultation with a H.O.T partner.

You will also earn credit toward your Housing Workshop Certificate, which may enable you to get up to $3,500 in down-payment assistance from a Community Housing Development Organization in your area.

Pre-registration is required. To register call 596- 1499 or visit our homepage at www.cityoftulsa.org/Community/HOT . For adults. Sponsored by the Home Ownership Tulsa partnership organizations.

Locations:     Central Library: Aaronson Auditorium Sat., June 2 and Plaza Rm.

Hardesty Regional: Redbud Auditorium Sat., June 16

Martin Regional: Plaza Room Sat., June 30^th. NOTE: This session may also have a call-in number at the Greater Tulsa Hispanic Chamber of Commerce (GTHCC) for registration.

Your Home: Keep It, Maintain it, & Decorate It

Hardesty Regional Library: Redbud Auditorium

Saturday, June 16 w Noon - 3:00 p.m.

Your home may be the largest investment of your life. This 3-in-1 workshop is geared for current or future homeowners.

 

Keeping it……..

 

The first part of this session addresses the foreclosure problem that is spreading across America. Any one of us can have hardship situations that create financial problems and cause us to get behind on our mortgage payments. This session provides resources on what to do if this situation arises and will give you valuable information on your rights as a homeowner. Let us guide you on what to do before losing your home and also
provide options and resources available to assist you.

 

 

Maintaining it…….

 

This session will give you the peace of mind you need as a homeowner regarding maintenance and repairs. You will learn simple, practical advice that can save you thousands of dollars.

 

Decorating it……..

 

Your home should be your sanctuary, not a place of stress. This session offers tips on decorating on a budget and enjoying the space you create without overspending. FUN ideas for making your house a home!

 

Lunch will be provided. Pre-registration is required. Pre-registration is required. To register call 596- 1499 or visit our homepage at www.cityoftulsa.org/Community/HOT. For adults Sponsored by Home Ownership Tulsa partnership organizations.

Deleware Pointe Neighborhood Garage Sale

The Delaware Pointe Neighborhood Association held its annual neighborhood garage sale Saturday May 5th. In attendance was listing specialist, Dave Berry of The Baskin Real Estate Specialists. Dave shares, " being apart of local community events gives top real estate producers the perfect opportunity to listen and learn about the needs of home buyers and sellers first hand."
Preceding the garage sale was Delaware Pointe's second annual Dumpster Day, sponsored by Darryl Baskin. This allowed property owners the chance to dispose of items they were unable to donate or sale and was great timing for seasonal spring cleaning . Collaborative efforts of residents, property owners and community leaders to maintain the area is what makes Delaware Pointe such a desired south Tulsa neighborhood in the Jenks school district.
If you would like information on a Dumpster Day for your neighborhood contact the Baskin Real Estate Specialists at info@darrylbaskin.com

Meadow Gold Sign Finds a New Home

For years travelers of the Route 66 stretch through Tulsa at 11^th Street and Lewis, passed by the large historic Meadow Gold Dairy sign of porcelain and steel. The sign was removed from its original site and carefully stored until a new home could be found. Recently, approval was received to reconstruct the sign just east of Peoria at 11^th street- not more than a mile from the original location. The new location was donated by the landowner and will serve to maintain the look and historic value of Route 66. The new location will have a brick base for the sign and should be completed by the end of 2007.

2007 Designer Showcase

2202 South Madison Avenue is the site of the 2007 Designer Showcase benefit ting the Foundation for Tulsa Schools. The event continues until May 20th. The event showcases Tulsa's best designers in a home of distinction. This Mediterranean villa built in 1928 was once owned by James Flanangan who was the vice president of Sinclair oil. Often called "The Million Dollar Bungalow" because it is smaller than the neighboring homes but commands respect for its captivating style and architectural appointments. Located in Sunset Park addition, many surrounding homes are considered mansion of the oil era including the Skelly Mansion just a block away. The house features a gardening room, card room, wet bar, quarters and a dining room fit to entertain royalty. This historic home is truly worth your time for a visit as is the benefit to the Tulsa Public Schools Foundation.

Click here for more information on purchasing this property. Darryl Baskin is associated with McGraw Realtors. 918-258-2600

Providence Hills in Bixby, OK

The neighborhood of Providence Hills in Bixby, OK offers residents a list of amenities like no other neighborhood in a similar price range. A neighborhood pool, club house, basketball court, splash park, playground and fishing dock are all available to home owners in the quiet country neighborhood. The houses are located in the Bixby Public School district and prices start in the $160's. Custom homes can be built in the area while lots last.

For more information on homes for sale in the Bixby area, contact The Baskin Real Estate Specialists at 258-2600 or search online here. Tulsa County neighborhood information can be found here.

Time to Watch for Ants

Ants are swarming and some can damage your home. On The Future of Real Estate we spoke with Tom Massengale with Mother Natures Exterminators about the calls they have received from Tulsa area homeowners about the sudden appearance of ants. While termites are generally the insect associated with home damage, carpenter ants can be equally dangerous. The best part about finding carpenter ants, Tom says, is they are cheaper to exterminate than termites so you want to be sure your are clear on which type of insect you have. Normal ants are not a threat to you home other than being a nuisance.

Mother Natures Exterminators can be reached at 918-362-2000.

Tulsa Represented at CyberStar Conference

Tulsa Oklahoma Realtors were represented at the CyberStar real estate conference in San Antonio Texas by Darryl Baskin of McGraw Realtors. Baskin, a member of the network of real estate agents, attends the annual event to gather the latest tips and tricks for the application of technology in the real estate business. "It is what keeps us the leaders in the Tulsa real estate market and gives us the edge to give our home sellers the advantage in selling their homes. I never like to miss this event" Baskin Says. The Cyberstar group was founded by Allen Hainge, a national real estate speaker who teaches technology concepts to real estate professionals round the country.

Pictured: Allen Hainge and Darryl Baskin

Preserving Tulsa's History

Speaking at the Developing Tulsa Conference at the OSU Tulsa campus, Amanda Decort emphasized the value of Tulsa’s deep-rooted history from oil mansions, Art Deco styling, WPA projects and Route 66 history. Promoting the development and preservation, Decort said developers can receive up to 40% of their development costs back upon completion of the project. This makes preserving the historical value of a structure a feasible goal from a financial aspect since much development can be squelched by costly preservation restrictions. The National Register and HP Zoning Overlay are two important tools used to govern areas which qualify as historic landmarks or historic districts. Areas such as Lortondale, Maple Ridge and other historic areas.

The National Register of Historic Places does not impose an restrictions on use, sale or maintenance of your building. Instead, it is an honor to have your building listed. It is HP zoning that provides restrictions which are often sought by property owners to preserve the value of their investments. Studies indicate that Historic Preservation Zoning areas appreciate at a faster rate than non Historic Preservation zoned districts. Design review includes what is called a certificate of appropriateness which is a review process to insure that the alterations made to a property remain in accordance to the architectural design of the era. If you are purchaser or developer in a historic district, the first step obtain your HP permit and follow by obtaining your building permit. Forms and additional information is available at www.tulsapreservationcommission.org

May 19^th is Citywide Preservation Celebration. Nominate someone you know for their contribution to Tulsa’s historic preservation. Tulsa will also be the home of 2008 National Preservation Conference. More information will be posted here as details are available.

Infill Building Increases In Tulsa Neighborhoods

Phil Marshall, mid-town Tulsa building specialists, says the key to successful infill building is to get along with the neighbors. Infill building is building within an established neighborhood – sometimes a tear down of an existing house and sometimes building a home on a lot which was new built on before. The neighbors adjacent to infill building did not purchase their home under the auspices of construction taking place next door as would be the case with most home buyers who purchase a new home in a newly developing neighborhood. “Letting a neighbor understand you really do care about their inconvenience during your construction helps reduce the irritation which often develops between neighbors and a builder,” says Marshall. Water discharges from new elevations is just one example of the challenges that infill building can present and becomes a critical part of planning and permitting for an infill builder.

Marshall says he is pleased to see the increase in the number of infill builders from four or five just a few years ago to over 20 today. This trend shows the demand to live in the city of Tulsa and the need for homes in Tulsa while outlying communities such as Broken Arrow, Jenks, Bixby and Owasso also grow and prosper.

Home Ownership Tulsa Holds Free Seminars

Throughout the month of June at various Tulsa City/County Libraries, Home Ownership Tulsa (HOT) will host free workshops for homebuyers. Home Ownership Tulsa is a special department of Mayor Kathy Taylor's office of Working in Neighborhoods and functions to encourage home ownership in the Tulsa County area. "Many home buyers are eager to own a home but simply need some direction. The task often seems daunting and complicated but is really quite simple," says Floyd McNair of The Baskin Real Estate Specialists.

Home Ownership Tulsa also provides assistance to home buyers for closing costs and downpayment. Find out more about the programs offered by calling 918-596-1500 or contact The Baskin Real Estate Specialist's home buyer hotline at 918-258-2600 or info@darrylbaskin.com

Developing Dowtown Tulsa

Tulsa Young Professionals (TyPros) hosted Jim Norton of Downtown Tulsa Unlimited with their Developing Tulsa series to promote the future of downtown Tulsa's development. Norton presented the importance of Tulsa's downtown describing its "sense of place" because it creates the unique thumbprint only Tulsa has to offer. Unlike other

Norton continued with the value of the investment we have in downtown Tulsa with the streets and expressways which link the city and the tax base it provides to fund for city and school functions.

The important factor for Tulsa to draw business is to bring residents back to the area. The Mayo Residences, First Street Lofts, Tribune Lofts and many other residential developments are attracting those resident back to downtown.

Safety and parking are the other issues Norton addressed explaining that the Tulsa Police Department will tell anyone that downtown Tulsa is the safest residential area in town but the perception, which is reality to the general public, is that downtown is not safe. To improve this perception, a police bike patrol and foot patrol are soon to be implemented to change the perception of the safety of downtown.

The master plan of downtown's 900 acres remains complicated for the simple fact that downtown is owned by many different property owners unlike a new development which is under the control of one person or entity. The City's plan must concentrate on the five areas which it does control. Those projects include streets, sidewalks, parking, green space,

The future of downtown may include potential retail developments by one of two different developers are brewing for the East side of downtown and some conjecture that Wal-Mart may consider a location for downtown. Other future changes proposed are removing one-way street restrictions and a comprehensive directional system (called way-finding system) to make the area more friendly for visitors.

Norton's final encouragement was for involvement in influencing legislators and city officials to coordinate and implement downtown development projects

What is an FHA loan

An FHA loan is a mortgage that is insured by the Federal Housing Administration, a division of the Department of Housing and Urban Renewal. The FHA will insure a lender against loss (in the event of borrower default), therefore encouraging lenders to make more loans to home buyers who might not otherwise qualify for home financing.

FHA loans are available with lower down-payment requirements, and in many cases the loan-to-debt ratio, which determines how much you can afford in mortgage payments, is more lenient than a conventional loan would allow. In our Tulsa and Oklahoma market, the FHA maximum loan amount is $200,160. Any loan above that amount would need to be a conventional or VA loan product. Borrowers who use FHA loans are required to pay a mortgage insurance premium at the loan closing (which can be financed into the loan), plus a monthly amount that is included in the loan payment. The monthly mortgage insurance premium for FHA loans is approximately ½ as much as the monthly private mortgage premium for conventional loans. There are many bond programs for first-time buyers that provide assistance towards down-payment and closing costs that can be done in combination with FHA insured mortgages. Many first home purchases in the Tulsa market are funded in this manner.

What Is a “Jumbo Mortgage?”

In Oklahoma, jumbo mortgages are any loans that exceed $417,000, as that is where the conforming conventional loan products end. Our country is considered the

wealthiest in the world because we have a strong middle class. The basic foundation of wealth for the middle class is homeownership. For those who are less well off or ranked near the bottom of the middle class, homeownership is a wealth building tool for accumulating wealth and moving up in the world.

For more information about this topic or other mortgage related questions, please contact mortgage expert Jeff Sargent of Pinnacle Mortgage Corp/a division of ONB bank @ 918.481.6833.

Darryl Baskin to represent Tulsa at International Luxury Real Estate Conference

Key Biscayne will host the spring conference for Who's Who in Luxury Real Estate. Darryl Baskin will represent Tulsa at the event which attracts the world's Top real estate brokers for luxury homes. Baskin has been a member of the international organization for four years and says "Representing Tulsa is a real pleasure. Comparing our home values to those of the rest of the world is eye-opening. We have some of the best values in the world and it is always an exciting opportunity to boast about our city in an environment of such prestige.'

Baskin says his affiliation with McGraw Realtors is "an appropriate fit" commenting that McGraw markets over 1 Billion dollars of real estate each year - more than any other company in the state, and McGraw Realtors is able to bring the right tools to the table to meet the demands of luxury home sellers. Baskin has represented the firm since 1990.

McGraw Unveils "McGraw Home Theater"

John Woolman, President of McGraw Realtors, the region's largest independent real estate firm, unveiled the company's newest advancement to their property website displaying properties for sale in Tulsa Oklahoma and surrounding communities. The new home tours show moving photos without cumbersome plug-ins and time-consuming downloads for the customer to hassle with. The new McGraw Home Theater will be available for public viewing on April 13th at www.mcgrawok.com

McGraw.com is recognized by web designers as an innovator for application of new ideas and technologies to the real estate market. McGraw, Realtors has over 550 sales associates and has served the Tulsa community for over 60 years. "Our particular emphasis is on attracting quality agents whose established reputations are an asset to our company and the people we serve," says Darryl Baskin, 17 year representative of the company. "You can't replace an upstanding reputation and long-term business relationships when you are handling the substantial investments of people's homes."

Broken Arrow Realtors gather for City Vision

Approximately 100 of the Tulsa area's top selling real estate agents met at Islamorada Restaurant inside the newly opened Bass Pro Shop, to learn more about Broken Arrow, Oklahoma's exceptional quality of life features. Mayor of the City of Broken Arrow, Richard Carter, opened the meeting with announcements of the new Broken Arrow Economic Corporation economic development plan recently presented by Angelou Economics.

Neil Dailey, commercial representative for The Baskin real Estate Specialists said "Keith Isbell, Chief Communications Officer of the Broken Arrow Public School District released substantially impressive data for the school system. This puts Broken Arrow schools into a category of national ranking and something the region should be aware of. This is what large corporations look for when they relocate their businesses or choose a location for expansion."

Broken Arrow is quickly earning a national reputation as a city with a plan for the future. As residents we can expect to enjoy the benefits of the City's vision over the coming years.

Sponsors of the event included Jim Beaver of The Arrow Group, John Linhardt of RCB Bank, City of Broken Arrow, Broken arrow Public School District, Chamber of Commerce, and Tulips on Broadway.

Congressman John Sullivan Speaks to McGraw Realtors

Congressman John Sullivan spoke to the weekly gathering of McGraw Realtors to share the latest news of the political climate in Washington D.C.. Congressman Sullivan explained the importance of the lobbying by Realtors to protect home sellers and maintain the effectiveness of the MLS systems across the country. Keeping the mortgage tax deduction is another critical function of the Realtor lobby.

The Congressman explained the impact of illegal aliens have on hospitals and other services provided to U.S. Citizens. Without taking necessary action, the illegal alien population will create irreversible damage to our economy and country which filters through to the housing market.

Energy independence has become a crucial subject. ANWAR needs to be opened for exploration to preserve our independence, according to Congressman Sullivan, and necessary precautions can protect the environmental interests of our country. Renewable energy sources are also a tremendous future for our country. Sullivan advocates Tulsa becoming the Center for Alternative Energies.

Continuing, Sullivan expressed the importance of health care reform in order to maintain our standard of care. Life span increases and costs of care will create new dynamics to our health care system and must receive our attention before an emergency gets out of hand.

“McGraw Realtors boasts a long history of political involvement understanding the importance of positive influence on our country's leadership to maintain the effectiveness of our government for the good of the people we serve,” says Darryl Baskin, one of the Company’s leading agents. McGraw Realtors has over 550 sales associates and markets over 1 Billion dollars of real estate annually. McGraw Realtors is the region’s largest independent real estate firm.

The Sub Prime Market is Sliding Downhill

What are sub-prime mortgages? Sub-prime loans are riskier loans in that they are made to borrowers unable to qualify under traditional, more stringent criteria due to a limited or blemished credit history. Sub-prime borrowers are generally defined as individuals with limited income or having FICO credit scores below 620 on a scale that ranges from 300 to 850. Sub-prime loans have a much higher rate of default than prime loans and are priced based on the risk assumed by the lender.

Many buyers and sellers in the Tulsa housing market should be asking that question, and all should be wondering how it could affect sales in this area. Typically, sub-prime customers are those who do not qualify for prime market rates because of a blemished or limited credit history. Sub-prime customers are therefore charged a higher interest rate to compensate for the increased probability of future default. There are deals on the table right now in our area that may not close because of the problems seen recently in the sub-prime market. We have buyers that were "approved" last month for a purchase money mortgage, but many of the lenders that had approved the mortgages have suddenly closed their doors and are in the process of going bankrupt. This has left both sellers and buyers all across the nation who are unable to close on the sale or purchase of their home. The Tulsa area economy has been stable since the mid 80s, when businesses were forced to diversify and bring new jobs to our area. There may be some buyers unable to purchase a home for a while due to credit issues and the quickly changing landscape of the mortgage industry. It is my opinion that we live in a region that will not feel the impact of these changes as severely as east and west coast cities and towns, where people were given loans that have accelerating interest rates and increasing payments that eventually will lead them to foreclosure. Should this happen in our area, it could negatively impact values.

According to the 2001 Expanded Guidance for Sub-prime Lending Programs, a sub-prime loan refers to "... the credit characteristics of individual borrowers. Sub-prime borrowers typically have weakened credit histories that include payment delinquencies and possibly more severe problems such as charge-offs, judgments, and bankruptcies. They may also display reduced repayment capacity as measured by credit scores, debt-to-income ratios, or other criteria that may encompass borrowers with incomplete credit histories. Sub-prime loans are loans to borrowers displaying one or more of these characteristics at the time of origination or purchase. Such loans have a higher risk of default than loans to prime borrowers." One of the reasons for lending to sub-prime borrowers is that, besides their profit potential, banks are obligated by law to offer lending services to clients of all income and credit levels. The Community Reinvestment Act, passed by Congress in 1977 requires that insured financial institutions such as commercial banks offer equal access to lending to all those in an institution's geographic assessment area. Before passage of the CRA, many lenders excluded low-income neighborhoods from their lending products. Many lenders not affiliated with banks have also been tightening their standards. The trend picked up after government-sponsored mortgage financier Freddie Mac said on February 27 that it would no longer buy high-risk mortgages. Ben Bernanke, the chief at the Federal Reserve is also urging Congress to boost regulation of Freddie Mac and its government sponsored counterpart, Fannie Mae.

For more information about this topic or other mortgage related questions, please contact mortgage expert Jeff Sargent of Pinnacle Mortgage Corp/a division of ONB bank @ 918.481.6833.

The government can't regulate independent lenders, but lenders will continue to tighten standards anyway over the next year to cauterize their losses, Plesser says. "In general lenders are being much more careful."

Broken Arrow Realtors Gather for City Update

Approximately 100 of the Tulsa area's top selling real estate agents met to learn more about Broken Arrow, Oklahoma's exceptional quality of life features. Mayor of the City of Broken Arrow, Richard Carter, opened the meeting with announcements of the new Broken Arrow Economic Corporation economic development plan recently presented by Angelou Economics.

Neil Dailey is the commercial representative for The Baskin real Estate Specialists and said "Keith Isbell, Chief Communications Officer of the Broken Arrow Public School District released substantially impressive data for the school system. This puts Broken Arrow schools into a category of national ranking and something the region should be aware of. This is what large corporations look for when they relocate their businesses or choose a location for expansion."

Broken Arrow is quickly earning a national reputation as a city with a plan for the future. As residents we can expect to enjoy the benefits of the City's vision over the coming years.

Sponsors of the event included Jim Beaver of The Arrow Group, John Linhardt of RCB Bank, City of Broken Arrow, Broken arrow Public School District, Chamber of Commerce, and Tulips on Broadway.

Six showings in one! ??

A Tulsa area home seller recently told me this story and asked me this question. It is good information to share.

“I have my house listed with another Realtor. My listing is nearing expiration and I have been thinking about hiring another broker. I counted the cards of the agents who have shown and one company has many more cards than the others.. I like my agent and wanted talked to him about this before I made my decision. I did and he brought me a Keybox report with all the showings. This company had only accessed the keybox for my house twice but there were six cards left on my counter over the months! We were never home to let them in.”

“My agent said this is sometimes a tactic to make home sellers switch realtors. If so, I am agry that someone would take me for a fool and would never use that company. Is that true?”

Unfortunately, yes. This does sometimes happen. THIS IS WHY YOU NEED TO HAVE A GOOD REPRESENTATIVE YOU TRUST to tell you the truth; and don’t get angry at them for their honesty.

To know how to determine the truth and if a broker has created a false image of their effectiveness. Use these tips:
Find the actual listing broker AND SELLING broker of sales in your area. Some agents show 100 houses before they sell one. Others show 7 and are simply more efficient and don’t waste their buyer’s time.
Look at the keybox report to see the actual number of accesses instead of relying on the number of cards left. More than one can be left by accident or on purpose.
Analyze the actual marketing of your home, not the hype. Some salespeople promise the moon to get your business. You want to know what they deliver. Ask for examples of their past and current material.


You need a good ethical person you have a relationship with.150 new agents are entering the business in the Tulsa area EVERY MONTH! There are over 4000 Realtors and only 6500 listing. You can do the math. Good Realtors will do more for you than what they will get paid for. There is no need to take a risk with one who does not have your best interest in mind at all times and that means from the very beginning.

Ice and Snow Bring Insurance Claims.

What You Can do to Avoid Paying Insurance Deductibles.

Warm up first. When you have ice or snow on your car, scrape off all the ice from your car windows. Your windows are not just a port-hole to peek from. You need to be able to see out your side windows for blind spots. It's cold out there so men, earn some extra points and take care of the ladies.

Don't forget the windshield wipers; make sure they are free of ice and snow. Don’t forget the headlamps and tail lights either. Other drivers need to see you coming and going and need to see if you’re turning, or braking.

Ice on your hood could cost you! Ice on the hood or roof of your car that flies off and hits another vehicle or person while you are driving is your liability. On a more selfish note if you don't scrape it off and it starts to break free or melt it may just slide off and dent your own car or crack your own windshield. That is never a good thing.

Brush off your hood. When you leave the snow piled on the hood of your car and you start driving it is going to blow up onto your clean windshield which, of course, is warm from your defroster and will freeze on your windshield wipers- making it very hard to see through the little streaks that are left. So, go ahead and brush off the hood of your car. You’re already cold. Just a couple more minutes and you'll be on your way.

Be careful where you park. After the freezing rain leaves it's beauty marks on trees and power lines and starts to melt it may come crashing down onto your car. You may be fine when you go into work early in the morning when everything is still very cold. Oh but when you come out after the ice has slide off the roof, or drop off the tree, or power line. You may have a nice dent - or worse on your car. A little planning could save you a lot of money stress and maybe a few bad words.

Jerry Szeszulski is an insurance expert heard on The Future of Real Estate on News/Talk 740 KRMG in Tulsa Oklahoma. Jerry offers money saving expertise for homeowners to apply to their homeowner's policies. Email your insurance questions to: Jerry.Szeszulski@american-national.com

Chicago
October, 2006

Tulsa was represented at the annual Luxury Real Estate Conference held this year in Chicago, Illinois, by Tulsa real estate broker, Darryl Baskin of McGraw REALTORS. The Annual Luxury Real Estate Conference focuses on the latest developments in luxury real estate across the globe. In addition to the United States, other representatives attended from Canada, Greece, the Bahamas and Thailand.

The story seemed repetitive, Baskin says, “There has been a noticeable slowdown among luxury real estate brokers in most parts of the country. This is much of what we hear in Tulsa when national news reports ‘the real estate bubble’ and a ‘slowdown in housing’. It is refreshing to report Tulsa’s status as solid, consistent and less affected by national trends. While we don’t experience the incredible appreciation, we are generally not affected by the sudden downturns and significant depreciations seen across other parts of the country, “Baskin adds.

While in Chicago, Baskin previewed the newest development from The Ritz Carlton Residences which will feature properties expected to sell above $1,000 per square foot and other luxury properties in downtown Chicago. New York City property values have hit as high as $4,000 per square foot for luxury penthouses, according to Frederick Peters of Warburg Realty. Tulsa’s highest prices per square foot top out at $400.

Representing an affordable luxury market in Tulsa, is a relatively easy task when you can report to your national peers that similar properties in Tulsa can be purchased for less than half the price of competing markets. When asked about missing the ocean, mountains and ski slopes, Baskin remarked “Green Country offers some fantastic settings. Besides, for the amount of money Tulsan’s save in housing, they can afford to travel anywhere in the world, several times a year, or like many Tulsan’s, own second homes in a place of their choosing. That’s the kind of luxury you don’t tire of.”

For additional information, contact Darryl Baskin at 918-740-0077

Where is the market?

As reported by my daughter, Madalyn, in her television debut on The Future of Real Estate, statistics for the Tulsa, Oklahoma Metropolitan real estate market through November of 2006 for residential single family homes shows an increase of 747 listings for the year. Sales also increased by 489 over the same period. Sales increased 3.6% over 2005 while listings increased 3% over 2005. The fact that sales increased more than the increase in listings is a positive direction for our market and a sign of stability.