Are There Vultures Looking for Luxury Real Estate?!?!

According to an article found on CNNMoney.com, George Graham, former director of Fortress, a hedge fund, partnered up with one of the auction houses that works closely with Sotheby's International Realty and several other auction houses to sell Luxury Real Estate. Concierge Auctions was formed.

Concierge Auctions' goal appears to be to take advantage of the failing real estate market and auction off luxury real estate. They tell luxury homeowners that their home won't sell via a traditional real estate market for years so it is better to auction off their home and make something off of it instead of ending up in foreclosure. They are also hoping to get in with banks all across the country. Since many luxury homeowners are unable to handle the mortgage, the property is entering foreclosure. The lenders are then stuck with homes that they are often unable to sell for market value. By getting in with the lenders, Concierge hopes to auction off these homes and make a cut of the final sales price. (To read the complete article, "Luxury Real Estate Vultures" (9-18-09), by Katie Benner, click here.)

For information on luxury real estate in the Tulsa, OK area or to sell or buy a luxury home, contact Peter McGraw of the Tulsa Luxury Property Group of McGraw Realtors at 918-592-6000 or www.tulsaluxurypropertygroup.com.

Change you can believe in

Dear Employees:

           As the CEO of this organization, I have resigned myself to the fact that Barrack Obama is our President and that our taxes and government fees will increase in a BIG way. To compensate for these increases, our prices would have to increase by about 10%.  But since we cannot increase our prices right now due to the dismal state of the economy, we will have to lay off sixty of our employees instead. This has really been bothering me, since I believe we are family here and I didn't know how to choose who would have to go.

            So, this is what I did. I walked through our parking lots and found sixty 'Obama' bumper stickers on our employees' cars and have decided these folks will be the ones to let go. I can't think of a more fair way to approach  this problem.. They voted for change, they should get it.

            I will see the rest of you at the annual company picnic.
                                                                     

          THE BOSS

 

Land Surveys

When a land surveyor is hired to perform a survey, he will do several things. One of the first things he will do is research, through several sources including the County Clerk’s office, in order to gather information about anything that affects the property and its boundaries. The surveyor will then perform a field survey of the property. He will find any physical evidence that will affect the boundaries as well as note any improvements made. After all this has been done, the surveyor will determine where the property lines are based on his research and data. He will then put the data into the computer to verify and draw a plat.

There are various types of surveys that can be performed.
A boundary survey is simply for the purpose of locating the boundaries and corners of a piece of land.
A topographical survey is used to locate elevations, land contours, streams, fences, etc.
A subdivision survey divides the land into smaller pieces with their boundaries.
A mortgage location survey must meed the requirements for title insurance.


For more information about surveys required to purchase a home in Oklahoma contact JJ Pierce of Closings of Tulsa at 918-493-2241 or www.closingsoftulsa.com.

Insurance Claims

How Do I Handle an Insurance Claim on my Homeowner's Policy? Many times homeowner's find that insurance adjusters can't answer questions about their policy. That is because, many times, insurance adjusters are sub-contracted by the insurance company. To help alleviate that problem, make sure that you ask plenty of questions about your policy before you purchase it. Find out what is covered and what isn't. Also keep in mind that many policies stipulate that you have to file a lawsuit within 1 year of the claim or you will waive any right to do so. If there are problems with your claim, you may need to file a lawsuit before the year is up in order to make sure that your time doesn't run out and you are stuck with repairs that you can't pay for. To avoid being put into that position, work ahead, ask questions, and do your research.

For more information about filing insurance claims or for an estimate for insurance coverage in Oklahoma contact Mike Tedford of Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.

If you have had fire, water or smoke damage to your Tulsa, OK. area property, contact Roger Fisher of PCC Cleaning and Restoration at 918-641-1111 or www.pcccr.com.

For legal advice on insurance claims in Oklahoma, contact Paul Boudreaux of Richardson, Richardson, Boudreaux at 918-492-7674 or www.richardsonlawfirmpc.com.