November Housing Scorecard Shows Continued Signs of Stabilization in House Prices and High Home Affordability

RISMEDIA, November 24, 2010—The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the November 2010 edition of the Obama Administration’s Housing Scorecard (www.hud.gov/scorecard). The latest housing figures show continued signs of stabilization in house prices and high home affordability due in part to record low mortgage interest rates. The housing scorecard is a comprehensive report on the nation’s housing market.

“The Obama Administration has made significant strides in promoting stability for the housing market and the nation’s homeowners. Through a range of swift actions since we took office, we’ve seen millions more families able to stay in their homes and a steady rise in responsible borrowers refinancing their loans or becoming homeowners,” said HUD Assistant Secretary Raphael Bostic. “But, while we cannot stop every foreclosure, we know that more has to be done to reach homeowners in distress and to help unemployed borrowers. That’s why we’re continuing to focus on successfully implementing the programs we’ve put in place—such as neighborhood stabilization funding, additional assistance on refinancing and emergency loans to help unemployed homeowners—and ensuring that help is available to homeowners as early as possible.”

“The recent reports of problems in the foreclosure process underscore the importance of helping responsible homeowners avoid the pain of foreclosure,” said acting Assistant Secretary for Financial Stability Timothy Massad. “As we implement additional program enhancements to reach more homeowners, we continue to stress to mortgage servicers the importance of making every effort to enroll eligible homeowners in HAMP and provide meaningful alternatives to avoidable foreclosures.”

The November Housing Scorecard features key data on the health of the housing market including:

-An additional one million families refinanced their mortgages in the last quarter, taking advantage of the lowest rates in history on 30-year fixed mortgages. Since April 2009, record low interest rates have helped more than 8.3 million homeowners to refinance, resulting in more stable home prices and $15.2 billion in annual borrower savings.

-As expected with the expiration of the Home Buyer Tax Credit, new and existing home sales have remained below levels seen in the first half of 2010. At the same time, home prices remained level in the past year after 33 straight months of decline and homeowners added $95 billion in home equity in the second quarter.

-More than 3.73 million modification arrangements were started between April 2009 and the end of August 2010—more than double the number of foreclosure completions during that time. These modification arrangements included nearly 1.4 million trial Home Affordable Modification Program (HAMP) modification starts, more than 600,000 Federal Housing Administration (FHA) loss mitigation and early delinquency interventions, and nearly 1.8 million proprietary modifications under HOPE Now. While some homeowners may have received help from more than one program, the number of agreements offered were more than double the number of foreclosure completions for the same period (1.6 million).

Data in the scorecard also show that the recovery in the housing market continues to remain fragile. While the recovery will take place over time, the Administration remains committed to its efforts to prevent avoidable foreclosures and stabilize the housing market.

For more information, visit www.hud.gov.

Interested in a Tulsa mortgage? Contact Steve Currington of Currington Mortgage at 918-810-0092 or www.curringtonmortgage.com.

To take advantage of the affordability of the Tulsa, OK area real estate market, contact Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com.

Is the U.S. Economy Growing?

In an article posted on RISMedia.com titled "New GDP Numbers Show Economy Growing Slowly" by Kevin G. Hall says that newly reported Gross Domestic Product figures show that the economy could be growing. For most of us that is a great thought, especially with so many foreclosures, job losses, and difficult economic times. The article also mentions that consumer spending is up, which is a sign that stress over job losses and other financial woes are decreasing. Want more information on this news? Visit the link to the article here.

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

Lead, Why it is it Such a Big Deal in my Broken Arrow Home?

There are many health concerns that go along with lead. One of the main concerns involves children. When kids get a hold of it, it can cause central nervous damage, ADD and many other issues. Why does lead create such a problem? Lead particles are very small and can be easily disturbed. 1978 was the cut off date for using lead in the US, however it has been found in things from other countries. With children it is very concerning because they put their fingers in their mouth and ingesting lead can cause health issues. How do I know if there is lead in my home? The biggest areas to watch are paint and caulk. When disturbing paint or caulk, be cautious and call professionals. Instead of sanding or removing it yourself it is better to paint over it so that it is not disturbed. It can spread easily even when taking precautions. For health reasons, it is important to call a professional instead of trying to handle it yourself. Professionals must be certified in order to handle lead removal.

Call the professionals at PCC Cleaning and Restoration for lead paint removal in the Tulsa, OK area at 918-641-1111 or www.pcccr.com.

For real estate needs in the Tulsa, OK area, contact Darryl Baskin of McGraw Realtos at 918-258-2600 or www.darrylbaskin.com.

Improving Indoor Air Quality in Your Tulsa, OK Home!

Indoor air pollution in your Tulsa, OK home 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.
• When replacing flooring, use eco-friendly flooring such as bamboo , stone, or cork.
  
• 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.

For eco-friendly flooring products in Tulsa, OK, contact Jim Ecrette of ProSource Wholesale Floorcoverings at 918-252-7711 or www.prosourcefloors.com

South Tulsa Luxury Home for Sale

Bixby, OK Luxury Home for Sale!

10824 S. 93 E. Ave.
Bixby, OK. in The Legends Addition
$725,000

5 Bedrooms
5 Full 1 Half Bathrooms
5 Living Areas
3 Car Garage
Bixby School District

Casual elegance combined with private backyard backing to green area & mature trees. Gorgeous brick & stone 5 Bedroom. Main level master with his & her's bath off Laundry Room. Granite Kitchen open to family room. 3 bedrooms, game & exercise rooms upstairs. Outdoor living with Pool and Bath.

To get more information on this Bixby, OK luxury home for sale or to buy or sell Tulsa, OK area real estate, contact Kelly Howard, McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

Will Buying a Tulsa, OK Area Condo Lead to Higher Bills?

For many home buyers, considering a condominium or townhouse seems like a smart idea. They can avoid doing exterior maintenance on the property such as lawn care and painting, but also have the benefits of home ownership. With the increase in foreclosures in the last couple of years, however, owners can find themselves being required to pay extra dues and expenses caused by owners who have had their properties foreclosed. An article, recently printed in the Tulsa World, Shared housing can lead to shared bills, discusses some keys to avoiding extra expenses when purchasing a condo or other type of shared housing.

Shared housing can lead to shared bills

For those who have a lot of cash or can get credit, this could be an ideal time to buy a house.

But beware if you are looking to buy a condominium, co-op, town house or other property that's part of a homeownership group - you could end up responsible for some of your neighbors' bills.

That's because people in shared ownership communities chip in to pay the cost of maintaining the buildings and amenities such as swimming pools. Also, the funds, usually paid in monthly installments, are often used to pay for landscaping, as well as to insure the structures.

But when individual owners in a group walk away from their homes or lose them to foreclosures, the bills end up getting split by the remaining homeowners.

Sometimes associations let bills pile up, creating potentially devastating surprises for owners.

"There's really a crisis within a crisis in the shared ownership community," said Gary Poliakoff, co-author of "New Neighborhoods: The Consumer's Guide to Condominium, Co-op and HOA Living."

The Community Associations Institute (CAI) trade group recently reported that more than half of the nation's 310,000 community associations are struggling with "serious" or "severe" financial woes.

Some 59 percent of association managers reported that more than 3 percent of homes in their community groups were vacant, the study said. Some 65 percent of associations reported that more than 5 percent of their homeowners were delinquent on their monthly assessments.

If an association determines that it needs to levy a special assessment on homeowners, there's no legal limit on how high that assessment can be.

And homeowners can't just decide not to pay. Associations can get legal judgments to allow them to take a portion of homeowners' wages or put liens on their properties.

To help avoid problems, check out the association thoroughly before you buy.

Dig deep into financial records. You should get the association's financial statement and find out what expenses the complex is paying, and what percentage of its overall obligations is handled by the dues.

Associations should have a balanced budget that covers both current and anticipated costs, he said.

Make sure the association has adequate insurance coverage. Associations generally hold the policy on structures.

Check into an association's reserves. Some states require that the associations maintain reserves for any expense that's likely to exceed threshold amounts, such as $10,000. In those states the association must have a reserve study showing what the anticipated costs are, when they're expected to be needed and how much money is set aside to handle them.

Look over the grounds. Some 35 percent of associations have reduced landscaping services and 12 percent are asking homeowners to do some work themselves, the CAI study said.

Read more from this Tulsa World article at http://www.tulsaworld.com/business/article.aspx?subjectid=364&articleid=20101114_46_E3_Fortho308694

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

Tulsa OK Condos For Sale

Tulsa, Oklahoma Condominiums for Sale

Enjoy the View from these Charming Spacious Condo's just Steps Away from the River Parks. Downtown and major interstates are only minutes away.

3731 South Riverside Drive
Tower Court Condo's in Tulsa, OK.

$172,900

3 Bedrooms
2 Full 1 Half Bathrooms
2 Car Attached Garage

______________________

3727 South Riverside Drive
Tower Court Condo's in Tulsa, OK.

$169,900

3 Bedrooms
2 Full 1 Half Bathrooms
2 Car Attached Garage
________________________

3729 South Riverside Drive
Tower Court Condo's in Tulsa, OK.

$169,900

3 Bedrooms
2 Full 1 Half Bathrooms
2 Car Attached Garage


To sell your Tulsa, OK area Condo or to find condominiums for sale in Tulsa, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com

Tulsa OK Area Luxury Homes for Sale...

Luxury Homes for Sale in the Tulsa, OK Area

Elegant Luxury Home For Sale in Bixby, OK.

13420 S. Lewis Ave.
$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 luxury 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

Will 2011 Be a Positive Year for The Housing Market?

The National Association of Realtor's Chief Economist, Lawrence Yun, believes that since home "affordability remains strong" and if "consumer confidence and business spending" increases, we could see a "virtuous cycle" begin as early as next year. What happens if consumer confidence and business spending don't increase? Yun says that we could enter a "vicious cycle" instead! Read on for the entire article, Home Sales Could Enter 'Virtuous Cycle', as printed in Realtor Magazine Online.

Consumer confidence and business spending are key to whether the U.S. housing market will move into a virtuous or a vicious cycle in 2011, NAR Chief Economist Lawrence Yun told a packed audience at the Residential Economic Outlook Forum Friday in New Orleans.

After the downturn, the housing market has clawed its way back to a point of near stability, Yun said, with the pace of new foreclosures easing, sales moving toward historically normal levels and prices on a national basis gaining modestly.

At the same time, affordability remains strong. He said all of the price excesses from the housing bubble have been squeezed out. In San Diego, for example, buyers today would pay $1,564 a month in mortgage payments for a house that at the height of the boom would have cost them $2,833 a month.

The broader economy is also showing positive signs, with businesses enjoying strong profits, sitting on huge cash reserves, and even adding jobs. Yun predicts this positive trend to continue into 2011, with existing home sales reaching 5.5 million units, prices rising a modest 1 percent, and the U.S. gross domestic product increasing to about 2.5 percent.

“We are entering a virtuous cycle,” he said. But for the positive trend to continue, he added, businesses will have to start spending some of their cash to fuel job growth at a far greater pace than they’re doing now. Currently, businesses are adding jobs at a pace of about 100,000 a month. That needs to grow to about 400,000 a month for unemployment to start shrinking.

The scenario will be far more negative if businesses continue to sit on their cash. In that case, sales will fall, inventories will rise, the high rate of foreclosures will resume, and the cost to the federal government of bailing out Fannie Mae and Freddie Mac will surge.

Federal Reserve Governor Thomas Koenig, who shared the dais with Yun, said the Fed’s continued effort to spur the economy, most recently through a $600 billion bond buying program, is understandable given concerns over the slow pace of growth. But the continued subsidization of the market could unleash inflationary forces.

Yun said he sees possible evidence of inflation building, but it’s not visible now because the housing-cost portion of inflation measurements is holding down prices.

—Rob Freedman, REALTOR® Magazine

Now is a great time to buy or sell your Tulsa, OK home! Contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Cub Scout Pack 344 Tours Tulsa City Hall

Tulsa City Councilor G.T. Bynum talks to Cub Scout Pack 344 explaining how the Tulsa City government works. 

Posted via email from The Baskin Report

Cub Scout Pack 344 Tours Tulsa City Hall

Tulsa City Councilor G.T. Bynum talks to Cub Scout Pack 344 explaining how the Tulsa City government works. 

Tulsa Metro Housing Supply Continues to Rise

The Tulsa, OK metro area housing supply has continued to increase. This graph represents the increase in month's supply of inventory. Although recent reports have claimed the Tulsa, Oklahoma real estate market has hit bottom, the increase in supply indicates the bottom has not yet been reached. Tom Allen, a local appraiser, says "When the month's supply is over ten months, prices drop." Darryl Baskin of McGraw Realtors and host of the television and radio programs "The Future of Real Estate," says "This increase in inventory has less to do with the growing supply and more to do with a slowdown in sales. People just haven't felt confident about making a home purchase. Others have had financial changes which keep them from qualifying. Recent elections may help ease consumer's apprehension." However you view the real estate market, Tulsa area home buyers and sellers should know the facts before entering into a contract to sell or buy a home. For additional information, contact the Baskin Real Estate Specialists of McGraw Realotrs at 918-258-2600 or visit www.darrylbaskin.com.

Posted via email from The Baskin Report

New Luxury Home in South Tulsa!

New Construction in Gated Luxury Bixby, OK. Neighborhood!

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

5 Bedrooms
4 Full 1 Half Baths
4 Car Garage

Gorgeous Master Retreat

Formal Dining with Exquisite Details!


Comfortable Kitchen and Family Room!

For more information on this Gorgeous Bixby, OK Luxury Home or for other Tulsa, OK real estate needs, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

How the Election Might Affect Tulsa Foreclosures

With the changes coming as a result of Tuesday's election, there remains a question about how these changes will affect the national and Tulsa real estate market. According to an article posted in the Wall Street Journal by Robbie Whelan, some of the initial results are:

1. Ten of the 12 state attorneys general on the executive committee heading the foreclosure probe lost their re-election bids and won’t be returning to office. However, Ohio’s Richard Cordray, one of the most outspoken AGs, says the change of watch won’t matter very much.

“The issue is still there. The elections don’t change that. It’s going to need to be addressed, from the industry’s standpoint,” he said. “The 50 state investigation will continue to go forward.”

2. In Florida, voters rejected a proposal to change the state’s constitution to allow voters to decide changes to local master plans. The proposal was rejected by two-thirds of voters.

Source: The Wall Street Journal, Robbie Whelan (11/03/2010)

Tulsa, OK foreclosure rate for September 2010 was 1 in every 467 housing units. For Oklahoma, 1 in every 174 housing units and nationally, 1 in every 371. Compared to national foreclosure rates Oklahoma is mid-range. For Oklahoma rates, Tulsa County has higher rates (Source: Realtytrac.com). Although there is no guarantee how these foreclosure rates will be affected by the election changes, only time will really tell if the changes help the economy and lower foreclosure rates.

Stop your Tulsa Foreclosure, contact Stan of The Baskin Real Estate Specialists at McGraw Realtors, 918-258-2600 or www.stopmytulsaforeclosure.com

To read the original article in the Wall Street Journal, click here.
To read the article in RealtorMag, click here.

Luxury Bixby, OK. Ranch for Sale

Gated and Secluded Luxury Estate in Bixby, OK

1724 East 151 Street
in Bixby, OK.

$2,675,000

5 Bedrooms
6.5 Bathrooms
4 Car Garage

Incomparable Gated & Secluded Estate! Luxurious Private Estate sits on 4 Acres w/up to 100 acres available including a 12-acre pond. Rare & unusual hand carvings & stone accents. Master separate from the 3 guest en suites. Gourmet Kitchen, Saloon & More!

For more information on this Luxury Bixby, OK Ranch for Sale or for all your Tulsa, OK real estate needs, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com

KNOW YOUR VOTING INFORMATION!

One of the biggest and most important United States and Oklahoma elections is tomorrow, November 2, 2010. For many of you, you have already researched the issues and candidates, know your polling place, and are ready to go. For others, however, knowing what you will be voting on is a daunting task and you may not know where to start. For those of you in the latter category, or for those who simply want a little bit more information, read on for some helpful steps to take before you vote and for some vital links to ballot information.

Steps to Take to Ensure a Smoother Voting Process:

1. Know Your Information! Before you go vote, make sure you know the following: your voting precinct, state Senate district, state House district, County Commission district. Knowing this information can ensure that you get all the proper ballots and the right candidates to choose from on your ballot. Follow this helpful link to the Oklahoma State Election Board. Simply click on find your polling place and enter your name, birthday, and zip code. Take this information with you when you vote.
2. Know Your Oklahoma State Questions and Candidates! There will be 11 State Questions on the Ballot tomorrow, as well as elections for 9 statewide partisan offices, and 6 statewide judicial offices. There will also be many district judges and special elections all over the state. Take some time to check out the following links to be an informed voter. Follow this link to Ballotpedia for links to information on each of the 11 state questions. Follow this link to politics1 for information on the statewide elections. This link to tulsacounty will give you a copy of your sample ballot. You will need the information you found in point 1 to get the proper ballot.
3. Go Vote! Make sure you take notes of which candidates, questions, and issues you are in agreement with. You could even print out the sample ballot and mark it for easier reference.

The important thing is to make our voices heard. No matter which candidate or side of the issue you stand on, be informed and go vote.

For all your Tulsa, OK area real estate needs, contact Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com

First-Time Home Buyers Stoke Demand for Smaller, Less Expensive Homes

Hello, Valued Member! Top 5 in Real Estate Network® Members are dedicated to providing you with the most up-to-date, helpful real estate information. This monthly newsletter, "Real Estate Matters," offers articles on a range of topics that will inform you in your real estate pursuits. Having trouble seeing this email? Click to view it as a web page. Add newsletter@rismedia.com to your address book to ensure email delivery. Buying Selling Owning Financing Home Improvement My Website My Listings Darryl Baskin Broker Associate McGraw Realtors My Website Member, Top 5 in Real Estate Phone: 918-258-2600 Cell: 918-740-0077 Fax: 918-398-5110 Email Me This month’s newsletter provides a detailed look at first-time home buyers and the changing landscape of homes in demand. Real Estate Matters also explores strategic default and what you need to know,  advice for home sellers, remodeling update and more. Top 5 Members are uniquely qualified to not only help you get educated on these matters, but make them as effortless as possible. Only Top 5 Members can provide you with the kind of exclusive information found here in Real Estate Matters - a monthly look at what's really happening in the housing market. It's a privilege to provide you with this important information. Enjoy this monthly e-newsletter, and as always, your feedback is welcomed - call or email any time! This Month's Top Story First-Time Home Buyers Stoke Demand for Smaller, Less Expensive Homes RISMEDIA, November 1, 2010—A growing segment of the housing market—first-time home buyers—are contributing to an increase in demand for smaller and less expensive new homes, according to research from economists at the National Association of Home Builders (NAHB). Delving into data from the most recent biennial American Housing Survey, which was conducted by the Department of Housing and Urban Development and the Census Bureau in 2009, the study, “Characteristics of New and First-Time Home Buyers,” finds that 41% of the 8.4 million households who bought a home between 2007 and 2009 were first-time buyers. More Top Stories Strategic Default - What You Need to Know Before You Decide to Walk Away RISMEDIA, November 1, 2010—(MCT)—The moving truck pulled away from the curb, loaded with Wallace Farmer’s possessions. He locked the front door for the last time and left town—clutched by a long-simmering anger that finally gave way to relief. Farmer didn’t sell his Baltimore house, worth far less than the $180,000 he paid in 2006. And he didn’t lose it to foreclosure. He walked away from the rowhouse and the mortgage. It’s the bank’s problem now. Be Market-Smart: Dos and Don'ts for Home Sellers and Buyers RISMEDIA, November 1, 2010—It would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-filled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists’ expectations. This is good news for both buyers and sellers. Home Remodeling Projects Stabilize in 2010 RISMEDIA, November 1, 2010—The fall 2010 U.S. Remodeling Sentiment Report shows that after a year of steady remodeling declines in 2009, the interest in remodeling stabilized in 2010. However, the size and scope of the remodeling projects are much smaller when compared to 2007/2008. Bedroom Design Ideas for Better Sleep and Comfort RISMEDIA, November 1, 2010—Creating a relaxing and comfortable bedroom environment is an important part of getting better sleep. Bay Area interior designer Lisa Staprans offers these interior design ideas for bedroom designs that enhance sleep and rejuvenation. Have You Heard About The Top 5 Real Estate Social Networking SystemSM? Sign up to receive my free, weekly e-Articles - brief, compelling, home-related informational articles that you or your family and friends will find helpful in pursuing your real estate goals! Here are some article samples recently sent out to my Real Estate Social Network: What the Dodd-Frank Act Means for You Top 5 Ways to Sell Your Home More Quickly How New FHA Changes Could Affect Home Buyers Top 10 Green Design Trends for Your Home Email me for more information. * This monthly newsletter is brought to you by your Top 5 in Real Estate Network® Member Agent and is intended as educational information only. RISMedia's Top 5 Real Estate Network® is a network created by, for, and of "leading real estate professionals" who are dedicated to providing "leading real estate information to consumers." The RISMedia Top 5 in Real Estate Network is backed by the commitment and resources of RISMedia. Top 5 was created to fill a profound void in how high-impact consumer relevant information was presented by leading real estate industry members to increasingly sophisticated, discerning, and demanding consumers, in order to both sustain and elevate the ongoing viability and appeal of the industry's leading professionals. For more information, visit www.top5inrealestate.com RISMedia, publisher of Real Estate magazine, is dedicated to providing real estate professionals with the most up-to-date news, information and business development resources in the industry. To submit questions, comments, suggestion, press releases or story ideas, please e-mail realestatemagazinefeedback@rismedia.com. RISMedia, Inc./Top 5 in Real Estate Network® 69 East Avenue, Norwalk, Connecticut 06851 P (203) 855-1234 F(203) 852-7208 www.top5inrealestate.com © 2010. RISMedia, Inc. All Rights Reserved. This email is intended for: post@posterous.com. If you wish to edit your subscription or unsubscribe from Real Estate Matters, please click here.

Posted via email from The Baskin Report