Fannie Mae and Freddie Mac Bailout Costs Taxpayers More than Expected.

According to a recent article posted by Paul Davidson in USA Today, the bailout of Fannie Mae and Freddie Mac will cost taxpayers more that was originally thought. So far, Fannie and Freddie have received $135 billion in funds from the Treasury Department. They are expected to receive another $19 billion by 2013.

Paul also mentions that the $154 billion bailout is not the compete figure...

"All these figures exclude dividends paid, or expected to be paid, to Treasury based on its preferred shares in Fannie and Freddie. If those amounts were included, the companies are expected to draw $221 billion to $363 billion by 2013."

The bailouts for the financial firms and auto industry cost taxpayers $50 billion.

Read the original article, "Fannie, Freddie bailout to cost taxpayers $154 billion", here.


To buy or sell Tulsa, OK real estate, contact Kelly Howard, McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

Some of South Tulsa's Finest Luxury Homes for Sale...

Some of South Tulsa's Finest Luxury Homes for Sale...

Jenks, OK Luxury Home for Sale

720 W. 108th St. in Jenks
Aberdeen Falls Addition

$1,695,000

5 Bedrooms
5 Full 1 Half Bathrooms
4 Car Garage

_________________________________

New Construction in Bixby, OK!

12204 South 68th East Avenue
Woodmere Addition in Bixby, Oklahoma
$935,000

5 Bedrooms
4 Full 1 Half Baths
4 Car Garage
_________________________________

Magnificent Gated Estate in Jenks, OK!

777 West 106th Street
The Estates at Stone Bluff in Jenks, Oklahoma
$2,999,000

5 Bedrooms
7 Full 1 Half Bathrooms
3 Car Garage


For more information on any of these Tulsa, Oklahoma area luxury homes or to buy or sell your home in the Tulsa, Oklahoma area, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com

Improving Indoor Air Quality

Indoor air pollution can pose many health risks, including: allergies, asthma, and even cancer. The average person spends about 30% of their day at work and 75% of their day indoors . These simple solutions can improve the air quality in your business and your home:

• Avoid smoking and the use of chemicals indoors.
• Use building materials that don't emit toxins. Ask your builder for some eco-friendly building options.
• Dehumidify in moist areas.
• Ensure adequate ventilation.
• Use filters that help reduce air pollutants.

For information on high quality air filters to improve indoor air quality, contact Rick Butefish at www.Filters4Me.com or 918-292-8600.

To build a new Tulsa, OK home or for questions about acceptable green building materials in Tulsa, OK, contact Rick Oberlender of US Building Systems at 918-518-5913.

How are Oklahoma real estate matters resolved in court!

There are different types of cases and courts in which a real estate related matter can be heard. When it comes to real estate, there could be issues related to property lines, ownership, title problems, failure to declare previous issues in a disclosure statement or much more. Here are several types of issues that could arise and how they are generally handled.

In small claims court, the case is usually over things with a value of less than $6000. Many times in small claims court people are unrepresented when it comes to a small dispute over less than $6000 or disputes over a renter and landlord. Cases like these are usually heard by the judge within 30 days and are decided the day of the court hearing. For an eviction, you give notice to a tenant and have it posted. If they don't respond or pay you the debt they owe, you file a petition at the courthouse with appropriate information. It is filed and you pay a small fee and they send a notice out. You are usually given a court date within 30 days. If you are a renter and the landlord's property (where you live) is involved in a foreclosure, there are several things that can happen. Sometimes even if you are in the right, you may still lose any prepaid money.

For more information on legal matter involving Tulsa OK real estate, contact David Keesling with Richardson, Richardson, Boudreaux at 918-492-7674 or www.rrblawok.com.

Need Tulsa, OK title insurance? Contact Ann Rollins of Closings of Tulsa at 918-493-2241 or www.closingsoftulsa.com.

Prevent legal issues due to lack of insurance coverage. For Tulsa, OK insurance, contact Mike Tedford of Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.

Is it difficult to get a home mortgage?

In the real estate business, it seems as if we are always hearing people, even Realtors, say that it is difficult to get a home loan in the Tulsa, OK area right now. Is it really difficult to get a home mortgage? No, It is not difficult to get an Oklahoma home loan, the requirements have simply changed. Right now, you do have to qualify for a Tulsa OK home loan. You must have a job and the lender will run a credit report. Years ago, that was not required. You need to fill out an application (in person, online or by phone). Then your information will be verified. For self-employed persons, your tax returns will be verified as well as your employment and income.

There are many options available for an Oklahoma home loan. When it comes to down-payments for example, an FHA loan requires a low down-payment of only 3.5%. A VA loan requires even less. When you hear someone say that it is difficult to get a home loan, now you know the truth.....It is not difficult to get a home loan, it has just changed.

Get a knowledgeable loan expert and find out your options for a Tulsa OK area mortgage today! Call Karen Heston with BOK Mortgage at 918-230-9432 or visit her website.

For all your Tulsa, OK area real estate needs, contact The Baskin Real Estate Specialists at 918-258-2600 or www.darrylbaskin.com.

Kitchen Remodeling Trends to Consider in Your Tulsa, OK Home...

According to an article in EzineMark.com by Joaquin Erazo, Jr, today's kitchen remodeling trends can help retain or even increase the value of your Tulsa, OK home. The key is knowing what trends to focus on when remodeling. Some areas of current trends to consider include: technology, televisions, green products, sinks and workstations, gathering spaces, tradition, colors and appliances.

Technology: High-tech home improvement options are transforming the kitchen during a remodel. Refrigerators, dishwashers, and stoves offer a wider variety of features to save you time and energy. Sound systems, computers, and televisions are increasingly part of the kitchen. Wireless Internet allows home technology wherever you want it.


Televisions Everywhere: New fridges have televisions built in and come with remote controls and cable hookups. You can even find range hoods with built-in TVs and DVD players!


Green: Today's consumers look for cabinets, flooring, and tables made from sustainable materials such as bamboo. They also want water-conserving faucets and energy-efficient appliances.

Healthy: Another aspect of going "green" includes installing cabinets without Volatile Organic Compounds (VOCs) and adding copper sinks, which have innate anti-bacterial properties. Homeowners also want ways to make their food safer. You can find refrigerators specifically designed to keep food fresh for longer and faucets with built-in filtration.

Fancier Sinks: You can find with built-in strainers, colanders, or cutting boards. Faucets are more likely to be the flexible, pull-out variety and many sinks offer a deeper bowl for filling large pots.

Work Stations: Specialized stations are cropping up all over the kitchen. Areas for preparing bread, making coffee or pizza, and wine-tasting nooks are all growing in popularity.


Kitchen as Family Room: Increasingly, homeowners want lots of gathering space and comfortable touches for when the family gathers in the kitchen. As in the past, they also want kitchens that open onto the family room.

Traditional Styles: A more contemporary look has become less popular. Traditional styles dominate, with Shaker enjoying a great deal of popularity.

Neutral Colors: White seems to be the most popular kitchen color choice since it offers a great deal of flexibility in styles and décor. Other neutral colors such as beige and off-white are now trendy as well.


Colorful Appliances: While cabinets and walls are less colorful, appliances are growing more so. Some dishwashers and fridges come with a variety of panels that you can coordinate with your décor.

Read more: http://lifestyle.ezinemark.com/todays-kitchen-remodeling-trends-help-improve-your-home-7d2c25ca1227.html#ixzz13F9mW585


To buy or sell a Tulsa, OK area home, contact Kelly Howard, McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

Homes for Sale in the Tulsa, OK Area

Gorgeous Horse Ranch for Sale in Mounds, OK!

19983 S. Sheridan Rd
Mounds, OK. with 80 Acres

$2699,000

4 Bedrooms
3 Full, 2 Half Bathrooms
5 Living Areas
3 Car Garage

________________________________

Updated Owasso, OK Home!

11607 E. 84 Ct. N.
Three Lakes Village in Owasso, OK.

$105,000

3 Bedrooms
1 Full, 1 Half Bathrooms
2 Car Garage

___________________________

Exquisite Custom Luxury Home in Bixby, OK.

15080 S. Columbia Ave.
The Estates of Posey Creek Farms in Bixby, OK.

$1,250,000

4 Bedrooms
3 Full 2 Half Bathrooms
4 Living Areas
3 Car Garage


For more information on any of these Tulsa, OK area homes for sale or to buy or sell real estate in the Tulsa, OK area, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

OKLAHOMA Senator Tom Coburn Addresses Tulsa Crowd

Tom Coburn speaks to constituents at Tulsa's Summit Club in Downtown Tulsa, OK addressing health care, job creation, and liberties afforded by the United States Constitution.

Senator Coburn will appear on the O'Reilly Factor tonight with guest host Juan Williams.

NEW- For Sale in Tulsa's Southern Plaza

This home over 2200 square feet with two living rooms and two dining
rooms has just made it to the market and is available for only
$139,000. Download the brochure and find more Tulsa, OK houses for
sale at www.homeguidetulsa.com.

Questions for the 2010 Oklahoma State Ballot #7

As Tulsa residents, the upcoming election in November will be very important. There are a record 11 questions on the Oklahoma State Ballot. As Tulsa voters, it is important to be aware of each question on the ballot so that we can make well informed decisions. After all, these decisions will affect Tulsa for years to come. So far we have given an overview of SQ 744, SQ 746, SQ 747, SQ 748, SQ 750, SQ 751, SQ 753, and SQ754- 8 of 11 questions on the Oklahoma State Ballot for November 2010. Today, we will discuss the seventh and eight of the eleven Oklahoma state questions- SQ 755, SQ756, and SQ 757.

SQ 755: This measure amends the Oklahoma Constitution. It changes a section that deals with the courts of this state. It would amend Article 7, Section 1. It makes courts rely on federal and state law when deciding cases. It forbids courts from considering or using international law. It forbids courts form considering or using Sharia Law.

International law is also known as the law of nations. It deals with the conduct of international organizations and independent nations, such as countries, states, and tribes. It deals with their relationship with each other. It also deals with some of their relationships with persons.

The law of nations is formed by the general assent of civilized nations. Sources of international law also include international agreements, as well as treaties.

Sharia Law is Islamic law. It is based on two principal sources, the Koran and the teaching of Mohammed.

SQ 756: This measure adds a new section of law to the State Constitution. It adds Section 37 to Article 2. It defines "health care system." It prohibits making a person participate in a health care system. It prohibits making an employer participate in a health care system. It prohibits making a health care provider provide treatment in a health care system. It allows persons and employees to pay for treatment directly. It allows a health care provider to accept payment for treatment directly. It allows the purchase of health care insurance in private health care systems. It allows the sale of health insurance in private health care systems.

The measure's effect is limited. It would n ot affect any law or rule in effect as of January 1, 2010.

Nor could the measure affect or negate all federal laws or rules. The United States Constitution has a Supremacy Clause. That clause makes federal law the supreme law of the land. Under that clause Congress has the power to pre-empt state law. When Congress intends to pre-empt state law, federal law controls. When Congress intends it, constitutionally enacted federal law would pre-empt some or all of the proposed measure.

SQ 757: This measure amends the State Constitution. It amends Section 23 of Article 10. It increases the amount of surplus revenue which goes into special fund. That fund is the Constitutional Reserve Fund. The amount would go from 10% to 15% of the funds certified as going to the General Revenue fund for the preceding fiscal year.

This information provided by "Do You Have the Answers?" by Sid Sperry published in Oklahoma Living Magazine.

For more information about SQ 755, SQ 756, or SQ 757 or any other question on the November 2, 2010 ballot, visit the www.okpolicy.org website or visit www.ballotpedia.org.

For your Tulsa, OK area real estate needs, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

How New FHA Changes Could Affect Home Buyers

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How New FHA Changes Could Affect Home Buyers

Earlier this week, the Federal Housing Administration (FHA) implemented changes to the premium structures for an FHA-backed mortgage.

My membership in the Top 5 in Real Estate Network® requires that I, along with my team, remain committed to keeping our clients and consumers informed, so it's important that we let you know that these changes may make it more costly for home buyers to procure FHA loan products.

In the wake of the real estate decline and credit freeze of the past three years, FHA-insured loans soared as borrowers sought alternative avenues for securing affordable mortgages. The FHA loan is popular because its minimum down payment is 3.5%, whereas most conventional loans require a much higher down payment. Recently, however, housing experts have raised concerns about FHA's shrinking funds and its ability to handle increasing defaults, sparking the agency’s impending regulation changes.

According to CNNMoney.com, FHA reported that its reserve fund has dropped to 0.53% of its insurance guarantees, well below the 2% ratio mandated by Congress and the 3% ratio it had last fall. This fund covers losses on the mortgages the agency insures. FHA borrowers pay for the insurance that backs their loans in the form of an upfront premium and an annual premium.

The agency has seen a spike in delinquencies amid the mortgage meltdown. Some 14.36% of FHA loans were past due in the third quarter, according to the Mortgage Bankers Association. To compensate for its rapidly depleting reserve fund, the following changes will be implemented to FHA lending:

• Upfront mortgage insurance premiums will decrease from 2.25% to 1.00%.
• At the same time, the 0.55% annual premium will be increased to 0.85% for mortgages with loan-to-value ratios up to and including 95%, and to 0.90% for loan-to-value ratios above 95%.
• Borrowers will be required to have a credit score of at least 580 to qualify.

These changes in FHA lending may be paving the way for conventional financing with private mortgage insurance (MI) to make a comeback in lending for low down payment buyers. According to loan experts, both MI and FHA have their place, but borrowers should consult with their real estate professional and lender to determine what loan options are best for their particular situation.

For more information on FHA lending, please e-mail our team, and please forward this email to others who might be unaware of how they may be impacted by these important changes.

Darryl Baskin
McGraw Realtors
Office: 918-258-2600
Mobile: 918-740-0077
Darryl@DarrylBaskin.com
http://www.DarrylBaskin.com

Posted via email from The Baskin Report

How New FHA Changes Could Affect Home Buyers

Having trouble viewing this email? Click here to view it as a webpage!

How New FHA Changes Could Affect Home Buyers

Earlier this week, the Federal Housing Administration (FHA) implemented changes to the premium structures for an FHA-backed mortgage.

My membership in the Top 5 in Real Estate Network® requires that I, along with my team, remain committed to keeping our clients and consumers informed, so it's important that we let you know that these changes may make it more costly for home buyers to procure FHA loan products.

In the wake of the real estate decline and credit freeze of the past three years, FHA-insured loans soared as borrowers sought alternative avenues for securing affordable mortgages. The FHA loan is popular because its minimum down payment is 3.5%, whereas most conventional loans require a much higher down payment. Recently, however, housing experts have raised concerns about FHA's shrinking funds and its ability to handle increasing defaults, sparking the agency's impending regulation changes.

According to CNNMoney.com, FHA reported that its reserve fund has dropped to 0.53% of its insurance guarantees, well below the 2% ratio mandated by Congress and the 3% ratio it had last fall. This fund covers losses on the mortgages the agency insures. FHA borrowers pay for the insurance that backs their loans in the form of an upfront premium and an annual premium.

The agency has seen a spike in delinquencies amid the mortgage meltdown. Some 14.36% of FHA loans were past due in the third quarter, according to the Mortgage Bankers Association. To compensate for its rapidly depleting reserve fund, the following changes will be implemented to FHA lending:

• Upfront mortgage insurance premiums will decrease from 2.25% to 1.00%.
• At the same time, the 0.55% annual premium will be increased to 0.85% for mortgages with loan-to-value ratios up to and including 95%, and to 0.90% for loan-to-value ratios above 95%.
• Borrowers will be required to have a credit score of at least 580 to qualify.

These changes in FHA lending may be paving the way for conventional financing with private mortgage insurance (MI) to make a comeback in lending for low down payment buyers. According to loan experts, both MI and FHA have their place, but borrowers should consult with their real estate professional and lender to determine what loan options are best for their particular situation.

For more information on FHA lending, please e-mail our team, and please forward this email to others who might be unaware of how they may be impacted by these important changes.

Darryl Baskin
McGraw Realtors
Office: 918-258-2600
Mobile: 918-740-0077
Darryl@DarrylBaskin.com
http://www.DarrylBaskin.com

Questions for the 2010 Oklahoma State Ballot #6

As Tulsa residents, the upcoming election in November will be very important. There are a record 11 questions on the Oklahoma State Ballot. As Tulsa voters, it is important to be aware of each question on the ballot so that we can make well informed decisions. After all, these decisions will affect Tulsa for years to come. So far we have given an overview of SQ 744, SQ 746, SQ 747, SQ 748, SQ 750 and SQ 751- 6 of 11 questions on the Oklahoma State Ballot for November 2010. Today, we will discuss the seventh and eight of the eleven Oklahoma state questions- SQ 753 and SQ 754.

SQ 753: This measure amends a section of the Oklahoma Constitution. It amends Section 3 of Article 7-B. The measure deals with the Judicial Nominating Commission. This Commission selects nominees to be appointed judges or justices, when a vacancy occurs. The Commission selects three, sometimes four, qualified nominees. The Governor must appoint one of the nominees.

The amendment adds two at-large members to the Commission. At -large members can come from any Oklahoma congressional district. The Senate President Pro-Tempore appoints one of the new at-large members. The Speaker of the House of Representatives appoints the other. At-large member can not be lawyers. Nor can more than two at-large members be from the same political party.

Six non at-large members are appointed by the Governor. They cannot be Oklahoma lawyers. The measure adds a new qualification for non-lawyer members. They can not have a lawyer from any state in their immediate family. Each congressional district must have at least one non-lawyer member.

Six lawyer members are elected by members of the Oklahoma Bar Association. Each congressional district must have at least one-lawyer member.

SQ 754: This measure add a new section to the Oklahoma Constitution. It adds Section 55A to Article 5. The Legislature designates amounts of money to be used for certain functions. These designations are called appropriations. The measure deals with the appropriation process.

The measure limits how the Constitution could control that process. Under the measure the Constitution could not require the Legislature to fund state functions based on 1) Predetermined constitutional formulas; 2) How much other states spend on a function; 3) How much any entity spends on a function.

Under the measure these limits on the Constitution's power to control appropriations would apply even if: 1) A later constitutional amendment changed the Constitution, or 2) A Constitutional amendment to the contrary was passed at the same time as this measure.

Thus under the measure, once adopted, the measure could not be effectively amended. Nor could it be repealed.

This information provided by "Do You Have the Answers?" by Sid Sperry published in Oklahoma Living Magazine.

For more information about SQ 753 or SQ 754 or any other question on the November 2, 2010 ballot, visit the www.okpolicy.org website or visit www.ballotpedia.org.

For your Tulsa, OK area real estate needs, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

Luxury Homes for Sale in the Tulsa, OK Area

Elegant Luxury Home For Sale in Bixby, OK.

$999,000

13420 South Lewis Avenue in Bixby, OK
The Estates of Hampton Hills Addition

5 Bedrooms
5 Full, 1 Half Bathrooms
3 Car Garage

__________________________________

Secluded Owasso, OK Luxury Home For Sale

15601 East 82nd Street North
in Owasso, OK.

$1,900,000

4 Bedrooms
4 Full, 2 Half Bathrooms
4 Car Garage

To buy or sell a home in the Bixby, OK or Owasso, OK area, or to buy or sell Tulsa, OK real estate. contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com

Luxury Home for Sale in Jenks, OK.

Exquisite Luxury Home for Sale in Jenks, OK.

10808 South New Haven Avenue
Belmont Addition in Jenks, Oklahoma

$1,895,000

4 Bedrooms
4 Full 2 Half Bathrooms
4 Living Areas
4 Car Garage

For more information on this Exquisite Luxury Home for Sale in Jenks, OK, or for all your Tulsa, OK area residential real estate needs, contact Kelly Howard, McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com

Bixby OK Chamber of Commerce

Oklahoma Senator Dan Newberry addresses a record crowd at the Bixby OK Chamber of Commerce monthly luncheon.

Magificent Jenks Luxury Estate For Sale!

Magnificent Gated Estate!

777 West 106th Street
The Estates at Stone Bluff in Jenks, Oklahoma
$2,999,000

5 Bedrooms
7 Full 1 Half Bathrooms
3 Car Garage

Magnificent Gated Estate with Grand Living Spaces, Groin Vaulted Ceilings, Arched Entries, Reclaimed Beams, Hardwoods, Granite, 2 Story Library, Master/Guest Suite Down + 3 Bedrooms Up with Private Baths. Game/Media Room with Wet Bar.
Pool with Beachfront. Incredible Views!


For more information on this Jenks, Oklahoma area luxury home or to buy or sell your home in the Tulsa, Oklahoma area, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com