Oklahoma Real Estate

Incentives to Purchase Freddie Mac Foreclosures

2011-07-07T15:29:00.001-05:00

Following in the footsteps of its counterpart Fannie Mae, Freddie Mac is offering a summer sales
promotion for buyers who purchase a home from its inventory of foreclosures or HomeSteps
properties. Since banks typically sell foreclosures “as-is” without incentives, warranties, or repairs, this incentive could help buyers view a HomePath property more like a traditional sale, and less like a distressed property, during their search process.

For offers received by July 31 that close by September 30, Freddie Mac is offering:
• 3.5% in closing costs to buyers
KW Research 10
• $1,200 bonus to buyer agents
This is on top of the incentives already being offered:
• A two year HomeProtect Home Warranty
• Up to 30% savings on new appliances
Note that this program comes with a few eligibility requirements, which includes the home must be a single-family, owner-occupied, financed dwelling used solely for residential purposes.

Average home sale price rises in Oklahoma City area

2011-06-29T13:38:00.001-05:00

Houses in the metro area sold a week and a half faster last month on average compared with April, and the average price rose more than 10 percent — and jumped 15 percent year to year.

http://homesite.obeo.com/630073

2010-10-07T13:48:00.000-05:00

http://homesite.obeo.com/630073

http://homesite.obeo.com/624865

2010-08-30T13:25:00.000-05:00

http://homesite.obeo.com/624865

Springtime Tips for Creating Curb Appeal

2010-03-22T15:49:00.002-05:00

Whether you are selling or staying put, here are five tips that can help you on your way to a beautiful home.

1. Sidewalks and Driveways:

An affordable, virtually maintenance free option for sprucing up your paths is concrete stain. It can cost around $30 a gallon and requires very little prep work. This is a do-it-yourself project.

Another tip: Fix cracks and uneven sections. This project may require a bit more professional attention, but will give buyers the impression that your entire home, not just the entrance, has been maintained.

2. Accent Door:

A plain door tends to recede into the background.

Consider a contrasting color to the siding of your home. On the color wheel, green is opposite red and yellow is opposite blue. Don't be afraid to be daring. Just a pint of paint can cover most doors, and if you don't like the result – you can try another color!

3. Trimming Trees:

Stand in front of your home and take a close – and fresh – look at your trees and bushes. Are there branches that have become overgrown and now obstruct the view of the home?

You want your landscaping to complement your home, not hide it. Trees should frame paths and entries. To trim tree branches yourself you can buy a pole pruner or chain saw. Or you can hire a professional, who has experience in shaping trees.

Keep in mind, however, that spring is NOT the time to prune flowering trees or maples. These should be done in late Summer and early Fall.

4. Early Spring Planting:

The last frost date varies by area. It also varies from year to year in that area, but if you feel that your home will not see another frost, then you may be safe to plant a few hardy annuals to add some pops of color to your yard. Even if a frost catches you by surprise – you can cover the plants for the evening to save them from succumbing to the cold.

The plant must also have time to take good root before severe rains come.

Some plants that you can give you an early burst of color:

Pansies: these bolts of color can even survive winter in some areas

Calendula: these “pot marigolds” are a versatile plant

Violets: heart shapes petals

5. Outdoor Lighting:

Low voltage (12 volt) and solar lighting are great options for improving curb appeal.

There are hundreds of designs of solar lights. These small fixtures are generally set on stakes in the ground and can be used to accent paths or gardens. And they are a great do-it-yourself option.

Also, consider using uplighting on trees to create night-time focal points – great for buyers doing after work drive by inspections!

New Lending Policies Announced by FHA

2010-03-08T09:21:00.000-06:00

If you or someone you know is considering an FHA loan, some of these changes may affect you. Here's a clear, concise rundown of the major changes and what they mean:

1. Increased mortgage insurance. The mortgage insurance premium (referred to as private mortgage insurance by many people) will be increased from 1.75% to 2.25%. This change will add some cost to purchasing a home, but will not overburden consumers since the mortgage insurance is paid over the life of the loan, rather than upfront at closing. This change will become effective on April 5, 2010.

2. New down payment and credit score requirements. According to the new policy, homebuyers who have a credit score of at least 580 may still be able to purchase a home with 3.5% down, but those with credit scores of less than 580 will be required to put down at least 10%. This change is designed to help the FHA balance its risk, while still providing affordable down payments for consumers with a history of good credit and responsibility.

3. Reduced seller concession. Basically, this change means that the person selling the home will now only be able to offer the homebuyer 3% to help defray closing costs, as opposed to 6% under the previous policy.

In addition to these changes, the new policies contain a series of new measures aimed at increasing lender enforcement.

The bottom line is that the changes will impact some homebuyers more than others. But in the end, the FHA is still committed to providing affordable home loans.

Creating Curb Appeal in Winter

2010-02-16T11:46:00.003-06:00

The old cliché is that location, location, location is the number one rule in real estate. In general, this is true. There is, however, a second major rule regarding the actual act of selling your home. This rule is to create as much curb appeal as possible.

Selling your home in the current cool real estate market can be a challenge. Make the decision to sell it in the winter, and you can have a real challenge on your hands.

Curb appeal is critical when it comes to moving your property. Why? Well, the home purchasing process is an emotional one. Yes, there are a lot of hard factors that go into it such as the area, price compared to the market, schools and so on. At the end of the day, however, the buying process is still pretty much about love at first site. If a buyer sees your home and immediately pictures themselves living there, you stand an excellent chance of getting an offer.

If you decide to sell your home during the winter months, the issue of curb appeal can become a big one. One of the central themes of creating curb appeal is to buff out your yard. Adding plants, cleaning up the verge and so on are always recommended. What if you live in an area where the winter months mean dead plants? Well, you are going to need to get creative.

The first step to dealing with your yard in the winter months is to make sure it is clean. Buyers in the area are not expecting anything great because they already know everything dies during the winter. While this is true, you can still take the extra step of having a clean and tidy dead yard. Sweep up all leaves, trash and so on. Make sure paths are cleaned and edged. Essentially, you want people to be able to envision how it might look in the summer months. This leads us to our second step.

If at all possible, you want to hunt down pictures of your home from the summer months. The pictures should include views of the home with the landscaping in full bloom and healthy. These pictures should be added to your marketing material. You should also put them on prominent display during an open house or when you show the home to a prospective buyer. The goal is to let the buyer know the yard actually will grow back and it will look pretty nice when it does.

Selling your home in the winter might sound like a challenge. By taking these steps, however, you can actually make your home stand out from others around it.

Listing of the Week in Edmond

2010-02-10T11:00:00.003-06:00

$219,900

AllenStyle Homes

15913 Northampton Court (NW 159th Terrace & N. Penn)
Edmond, Oklahoma 73013

3 Bed 2 Bath 1 office 1,974 Square Feet

Open Wed-Sunday from 2:00-4:00 PM

Luxury living on a smaller scale. This home was custom built by AllenStyle Homes. AllenStyle Homes won the 2009 Clean Sweep Award and Best of Show at the Parade of Homes. This home features all of the amenities of a luxury home at affordable prices. Granite counters in kitchen, bathrooms and utility room, barreled ceilings, stained concrete drive, custom Oklahoma hand made vent hood, mounted LCD flat screen tv, large shower, large closets, 1930's style doors, 40 year roof, per-wired for HDMI, kitchen island, etc.

Call Wyatt Poindexter at Keller Williams Realty for more information.

Wyatt Poindexter
Keller Williams Realty
(405) 417-5466
www.WyattPoindexter.com

Questions to Ask a Prospective Realtor

2010-02-09T09:46:00.004-06:00

Ask if they are licensed and if it's up to date.
Ask if they are part time or full time, because you want a full time agent to assure you get the most attention. Look at it this way: if they only work part time, your house is only marketed part time.
Ask them what type of training they take to stay current, and ask them how good are they at using the Internet and do they use 360 virtual tours, and what type of training they have for marketing homes on the web. Since many consumers now use the Internet to locate homes, you better have an Internet savvy Realtor. In many cases, people reported back to us that they were more savvy at finding homes to look at than their Realtor. There are several highly trafficked home classifieds web sites. They better know how to get your house listed on them.
Home buyers and home sellers should both ask their Realtor if they will get them a printout of all the recent selling prices AND the original listing prices of homes in their area, showing what the owners paid for them, how much they sold for, and full details on the homes. Selling price is useful, but knowing what they listed for and how much the sellers dropped in price is a great gauge of the real estate market in your area.
For sellers, ask the Realtor how they plan to market and sell your house. Get it all in writing, absolutely no verbal promises. You want them to blitz the market and get your house into the premium listings and the free listings, and all the online web sites. You want your house to be found. You want no surprises or excuses later on. Pin them down and get their battle plan in writing now. This is a major source of miscommunications and resentment when the seller is expecting several things to be done, and all the Realtor does is list it in the MLS.
Ask if they are willing to offer more commission to the buyer's agent. There are many savvy buyers agents just looking for houses whose selling agent pays that extra 1/2% or more. This incentive can help sell the house quickly if needed.

10 Ways to Impress Buyers at Every Showing

2010-02-08T10:14:00.003-06:00

1. Nothing Personal But Remove Personal Photos:
Many clients are distracted by portraits of the sellers, and miss out on key selling points of the home. No matter how nice the display, personal photos are just that: too personal.

2. Accentuate the Positive:
My clients usually know what they like best about their home. It's usually what they saw that made them want to buy, or it's something that they added to make the home particularly special. Whether it is a staircase, a great view from the kitchen sink, a pergola or outdoor kitchen, do something to make the buyers linger in that space.

3. Smells Like Home:
I've heard of many Realtor bringing in cookies to bake in the oven (this works great at the Parade of Homes but it's hard to keep up with the cookies!). I usually opt for a few plug-in air fresheners. I like using vanilla or lemon in the kitchen, fresh scents in the laundry, apple cinnamon in the living room and such. Specific aromas add a theme to the tour, even when it's not an open house.

4. Hide Your Opinions:
Avoid politically-charged material that expresses strong opinions. You don't want a potential buyer to dislike you for your beliefs, so remove all questionable material out of sight. That even means your Oklahoma Sooners or Oklahoma State Cowboys items!

5. Clean Up Your Act:

If you are selling your house, cleaning is a no-brainer. And clutter is a killer. Get a head start on packing, and begin boxing up extras that are taking up space on your mantel, table surfaces, etc. Clutter makes a house look smaller, and if you have a small house, it makes it feel claustrophobic. Not advantageous to a quick or profitable sale.

6. Embrace the Quietude:
When showing a home, music is not necessarily a bad thing. If you don't know the potential buyer and their taste in music, don't push yours. If you are going to play music, be sure it doesn't have vocals. Avoid niche music; not everyone loves Metallica or Lady Ga Ga. If you are set on having music playing in the background for viewings, opt for soft jazz playing at a low level. Unless you have the music-only channels, keep the television turned off. It’s a distraction.

7. Paint the Story:
A coat or two of paint is always a good investment. If you decide to make the effort, consider flat paint in areas for resting and relaxing. You can add some colors, but neutral is always best. Satin paint is great for common areas and places where there is a bit more action taking place. It's also easier to clean if someone spills some tomato soup on the wall.

8. Pet-Proof the Pad
If you have pets, especially indoor pets, make sure that during your listing period, you are particularly fastidious in cleaning up after them. Ask a very good friend (or your Realtor), who will tell you the truth, to come by and give it the sniff test. Also, if you have pets and are trying to sell your home, the purchase of a few air purifiers may also be a great investment. Consider buyers with pet allergies. Cat's will really hurt buyer potential!

9. Show Off the Goods:
Consider placing laser-printed cards on items that remain with the home. Such things could include high-end appliances, mounted flat-screen tv's, laundry chutes, built-in sound systems and other goodies. These inexpensive cards are an under-utilized way to bring attention to such selling features. Don't overdo it though; no more than 5-10 cards in an average-sized home. Be sure to lock up or take jewelry/prescription drugs and other valuables with you.

10. Leave Your House!:
No buyers want to discuss your home while you are standing there. On average, my clients spend about 20-30 minutes in a home that has some promise; very few stay more than 5 minutes in a house with the seller in earshot. If nothing else, go drive around the neighborhood, and let the home speak for itself.

Five Reasons to have Fireplace Screens

2010-02-07T11:30:00.001-06:00

Fireplace Screens or covers are an essential feature for the hearth. They add an element of completion to the fireplace. Indoor covers are usually made of metal or glass. There are many designs available on the market. However, whatever the style, the main function of screen is practical. Below are 5 reasons why you should consider a cover for your fireplace.

1. Fireplace Protection

During warm weather periods you’re unlikely to use your fireplace. A screen comes in handy at such times. It is a good idea to keep your fireplace covered during the spring and summer. It will prevent dust and debris from gathering in the fireplace. This will save you from the heavy cleaning work that comes with an exposed fireplace. Using a cover also ensures that the fireplace works effectively when in use. Covers help to sustain the working efficiency of your fireplace. They also help maintain the hearth in good condition.

2. Cleaner Room

Rooms with a fireplace tend to get dirty quicker from fireplace materials. A fireplace cover helps to keep your room clean. Quite often, some wind will blow soot, ash and debris into the room through the chimney or windows. With a cover installed at the fireplace, you can limit the effects of wind on indoor furnishings like rugs or carpets.

3. Easier Cleaning of Fireplace

Some covers are designed to enable easier cleaning of the fireplace. A specially fitted access hole on the cover allows you to use a vacuum hose to clean. Dust, soot and ash are kept from entering into the room as you go about your fireplace cleaning. Such specially designed covers are a welcome aid in effectively managing household chores.

4. Safety

The cover acts as a shield for occupants of the room. Sparks and flying embers can easily land on room occupants enjoying the fire. A fire could start easily if sparks land on flammable material in the room. Covers do a lot to prevent embers and sparks from escaping into the room. You can enjoy your fireplace experience without worries over possible fires.

5. Protects Children

If you have young children, covers can be used as a safety measure. They are a good way of preventing children from venturing into the fireplace. Being quite adventurous, young children can easily wander into the fireplace when not in use. Some features and objects of the fireplace can harm children. A cover will help restrict your children's movements and keep them away from possible danger in the fireplace. Covers are a practical way to create a safe environment.

Recent Home Buyer Statistics

2010-02-06T17:05:00.002-06:00

Home Buyer Statistics

Active home search (median):

Number of weeks searched: 10
Number of homes seen: 10

First-Time vs. Repeat Buyers:

First-time buyers: 41%
Repeat buyers: 59%
Median age of first-time buyers: 30
Median age of repeat buyers: 47

Buyers who definitely would use same agent again: 70%

Actions taken as result of Internet home search:

Drove by/viewed a home: 77%
Walked through a home viewed online: 63%
Found agent used to search/buy home: 27%

Information sources used in home search:

Internet: 87%
Real estate agent: 85%
Yard sign: 62%
Open house: 48%
Newspaper ad: 47%
Home book or magazine: 30%

Courtesy of Realtor.com

www.WyattPoindexter.com

Full-time Realtors Vs. Part-time Realtors

2010-02-05T10:08:00.007-06:00

I just read a great article about "Part-time Realtors Equals Full-time Problems". I thought I would jot down some of my thoughts about the article and my personal opinions. Here are some interesting statistics:

“Only 27% of Realtors surveyed by 56 local Realtor Associations listed Real Estate as their primary source of income (this illustrates problems we have.)

That means that 73% – nearly 3 out of 4! – Realtors are making their primary income from a source OTHER than real estate.

Real estate is – as much if not more so – the most “around the clock/nearly 24-7/always on” business there is.

How can people be out of touch and out of pocket for any period of time and serve their clients properly? The obvious answer to that question: they can’t.

When someone calls on your property is there going to be someone there to answer? Think so? Go ahead and try it. In fact you should be calling your Realtor at least once a day to see if anyone answers. You should also have a friend call about your house and see how long it takes to get a return call. When you are trying to sell your house do you think the buyer or buyer’s Realtor is going to sit around waiting for your Realtor to call back?

A Realtor should be focused on selling your home, not shopping at Steinmart. You have every right to ask the Realtor if they are part-time or full time. Would you hire a part time surgeon?

If a Realtor says they can work part time and fulfill your needs for your real estate transactions, then ask them why they need a second job? If they are successful at what they are doing then they wouldn’t need to be selling furniture at Mathis Brothers. We all know why someone needs a second job. It means that their primary source of revenue is not sufficient to pay the bills. If they need a second job to pay the bills at home where do you think your home falls in the priority line?

Why would you use a part time Realtor help you with one of your largest financial assets? The purchase or sale of your home.

Don’t let the sale of your home or the purchase of your home be a lottery ticket for a sub par Realtor!

As mentioned above, if they have to work a second or third job and did not disclose it to you it was because they did not want you to know. Why didn’t they want you to know? There’s only one reason. It means they are not successful. If they are not successful, then what is their priority. Does a call from a client take precedence over shopping at Penn Square Mall?

That’s one of the HUGE problems. They say they are taking a “second” job when in reality they have just taken a “first” or primary position and guess whose home selling or home buying process has been rendered secondary in importance?

Would you hire a Realtor because he/she is your friend/family member OR because they are a full-time professional?

I bet when you spoke to the Realtor that you hired that they said they had this great marketing program. They were going to put your house in the MLS, put out a yard sign and then run an ad in the Daily Oklahoman. Wow! They just spent around $75.00 to market your house! If your Realtor is working another job trying to make ends meet, how are they going to pay for REAL MARKETING on your home?

If the Realtor you hired can’t afford to educate themselves on the latest technologies or can’t afford either the money or time to further their continuing training, then you will be dealing with an Realtor who is not capable of servicing your needs in the most proficient manner.

Do you realize that less than 3% of all agents have a website or blog and that fewer still have any idea as to how to utilize the computer in a manner that is advantageous to you as a buyer or seller?

So that is my opinion on using part time Realtors vs. full time Realtors. Of course, if you are a buyer, the commission is paid by the listing broker, so why would you not want to use the Realtor who will be there to give you the best service you can get! If you are a seller looking to sell your home in a challenging real estate market, and if you are going to pay a commission, don’t you want to make sure you are getting the best service for your money that you can?

Remember, you will always get what you pay for!

I would be very curious to hear everyone’s opinion – whether you agree with me or not.

Wyatt Poindexter

Keller Williams Realty

www.WyattPoindexter.com

405-417-5466

Keller Williams First Time Buyers Study

2010-02-04T10:07:00.001-06:00

Earlier this year, Keller Williams Research conducted a study of first time-buyers and here’s a few of the findings:

The median age was 28, significantly down from where it was four years ago at 32.
Location or Neighborhood was the No. 1 “must-have” for 36% of buyers.
25% saw 5 or less homes before writing an offer, the average buyer saw 10 homes.
2 out of 5 first-time buyers purchased a distressed property.
2 out of 3 sellers paid at least part of the buyer’s closing costs.
1 in 4 had help from their family for the down payment.

If you’re interested in learning more about the new tax credit or about homes in your area, please contact Wyatt at www.WyattPoindexter.com or call 405-417-5466.

How to ALWAYS find Your House Keys

2010-02-03T12:24:00.002-06:00

DUPLICATE KEYS: Make at least 3 sets of house keys. House keys are cheap.
COLOR CODE YOUR HOUSE KEYS: Put the same color rubber key identifier on each house key.
PLACE EACH HOUSE KEY ON INDIVIDUAL KEY RINGS: Go all out on this step and purchase the biggest, gaudiest key rings that you can find. Put each key on its own ring.
LOCATE DUPLICATE KEY #1: The obvious location for a house key is next to the door. Whether it's a key rack on the back of the door, a box on an entry stand, or even a ledge by the door, leave one duplicate key in this location.
LOCATE DUPLICATE KEY #2: The second best location for a house key is the first room you enter when you arrive home. Every kitchen has a catch all junk drawer. Leave the second duplicate key here.
LOCATE DUPLICATE KEY #3: You now know the drill. If the next room you enter is the bedroom, leave your third duplicate key in your night stand. Continue until you have placed each key around the house in a location you think you will look for it at some future frantic date when you cannot find your keys.
ADD KEY LOCATIONS TO CELL PHONE: Of course this step is predicated on the belief that you are less likely to misplace your cell phone than your keys. For each duplicate key, enter the location in your cell phone as a contact.
ADD KEY NUMBER/MANUFACTURER TO CELL PHONE: Add the key manufacturer and number of your house key to your cell phone. If all else fails and you cannot find a single key, with this information, you can easily purchase a new key and not have to a hire a locksmith. You should make a second cell phone entry to add this information for your car keys.

Listing of the Week in Edmond.

2010-02-02T13:17:00.008-06:00

14116 Canterbury - $309,900
4 Bed 3 Bath 2,954 Square Feet

View Obeo Virtual Tours at:

www.14116Canterbury.com

This Edmond home is located in prime area. It was custom built in 2002 on a large over sized lot. Some of the features of this home include: large open floor plan, hardwood floors, tile floors, vaulted ceilings, built-in bookcases, large kitchen with breakfast bar, beautiful woodwork, updated color schemes, bonus room, 3 living areas, huge backyard, large covered patio, etc. This home is perfect and ready for new owners! Call Wyatt Poindexter for more info.

Wyatt Poindexter
Keller Williams Realty
405-417-5466
wyatt@wyattpoindexter.com
www.WyattPoindexter.com

Email Wyatt if you want your property to be "Listing of the Week".

Contemporary Living on Lake Overholser

2010-01-29T12:48:00.003-06:00

4 Bed 3.5 Bath 3 Car Garage 4,867 Sf with Pool - $559,000

Visit: www.4000Ramsey.com
for more professional photographs and Obeo Virtual Tours

Modern living in the Northwest Oklahoma City/Yukon area. This home was custom built in 1993 in gated Stonebridge Lake Estates. This home features beautiful lake views of Lake Overholser, walking distance to tennis courts, jogging trails, etc. Some of the features include: game room, exercise room, upper deck, wood floors, tile floors, open floor plan, updated paint, updated fixtures, remodeled master bathroom, etc. Please view Obeo Virtual Tours at www.4000Ramsey.com. Call Wyatt Poindexter for more information.

Wyatt Poindexter
Keller Williams Realty
www.WyattPoindexter.com
405-417-5466
wyatt@wyattpoindexter.com

Inexpensive Ways to Prepare Your Home For Sale

2010-01-28T09:21:00.003-06:00

First impressions are important when trying to sell your home. Extreme changes aren’t always necessary. There are simple steps you can take to prepare your house for the market while staying within a reasonable budget. The interior plays a big role, but don’t ignore exterior modifications, such as fresh light bulbs, an attractive mailbox and welcome mat, shiny doorknobs, colorful landscaping and window boxes, to name a few.

CLEAN, CLEAN, CLEAN: Take all personal items, such as pictures and trophies, and box them away. Buyers want to envision the house as their own.

Remove clutter, and clean. No one wants to see dirt on the baseboards, cluttered counters or a filthy microwave. Dust the ceiling fans and stair handrails; sweep, mop, clean the toilets, etc. Mow the lawn, edge it and sweep or consider power washing the driveway, front porch and the curb. Make your flowerbeds look neat and tidy. Consider adding hanging planters and fresh mulch outside, too.

WHAT’S THAT SMELL?: Smell is a huge factor. When you open the front door, what smell wafts out? Get someone not living in your house to give you an honest opinion. Put clutter into storage, not the garage. Add vanilla-scented candles in all the rooms. This scent isn’t too overpowering and is the most neutral. Go through every closet, cabinet and drawer and pack it up or move it out if you’re not using it. Ask your Realtor to walk through and give your home a once over.

TEND TO THE DETAILS: When I entered one woman’s house, it looked nice except that the carpet was awful and the tub was really stained. You can rent a carpet machine at the grocery store. The blinds are also a big thing to clean because they hide dirt. You want the windows to be open and plenty of light shining through or at least bright interior lighting. If you have a loaf of bread or brownies baking, it really helps offer a welcoming scent, too.

FIX ‘ER UP:

1. Paint interior and touch up exterior. All neutral colors.
2. Fix minor problems such as a sticking door, leaky faucets and broken/bent mini-blinds. We always figured when we were house hunting that if the small things weren’t tended to, the big stuff probably wasn’t maintained, either.
3. Be sure to take the trash out. Maybe I’m cynical, but when house hunting, the strong scents made me leery of what smells they were trying to mask.
4. Play music. We put on some smooth jazz.
5. Consider offering a one-year homeowners warranty. It’s a nice incentive for the buyers, especially if your home is older than 15 years.
6. Display new hand towels for the bathrooms and some houseplants or fresh flowers for around the house.
7. Remove anything that has strong connotations, such as hunting trophies, campaign signs or hot-rod posters. Oklahoma and Oklahoma State items also!
8. New light fixtures are a cheap update.
9. Have laundry baskets or boxes handy for an emergency showing. I kept them in the car, and, when I had a hectic day and wasn’t ready for a showing, we went around and tossed things into the baskets and loaded them into the car to be sorted out after the showing.
10. Even if you don’t include the fridge with the house, as a homebuyer, I always check the fridge. In my opinion, it is an honest evaluation of the care taken of the house. Clean the fridge!

www.WyattPoindexer.com

Helpful Hints for the Oklahoma Winter Storm

2010-01-27T15:41:00.003-06:00

Keep your headlights clear with car wax. Just wipe ordinary car wax on your headlights. It contains special water repellents that will prevent that messy mixture from accumulating on your lights; lasts 6 weeks.

Squeak-proof your wipers with rubbing alcohol. Wipe the wipers with a cloth saturated with rubbing alcohol or ammonia. This one trick can make badly streaking & squeaking wipers change to near perfect silence & clarity.

Ice-proof your windows with vinegar. Frost on it's way? Just fill a spray bottle with three parts vinegar to one part water & spritz it on all your windows at night. In the morning, they'll be clear of icy mess. Vinegar contains acetic acid, which raises the melting point of water, preventing water from freezing.

Prevent car doors from freezing shut with cooking spray. Spritz cooking oil on the rubber seals around car doors & rub it in with a paper towel. The cooking spray prevents water from melting into the rubber.

Fog-proof your windshield with shaving cream. Spray some shaving cream on the inside of your windshield & wipe if off with paper towels. Shaving cream has many of the same ingredients found in commercial defoggers.

De-ice your lock in seconds with hand sanitizer. Just put some hand sanitizer gel on the key & the lock & the problems solved.

Wyatt Poindexter
Keller Williams Realty
405-417-5466
www.WyattPoindexter.com

FHA Mortgages to Cost Borrowers More

2009-12-02T13:57:00.001-06:00

Home buyers will have to make a larger down payment to get an FHA-backed mortgage and will need to have higher minimum credit scores under changes announced today by HUD Secretary Shaun Donovan.

Reporting from Washington - Home buyers will have to pay more cash upfront to get a mortgage backed by the Federal Housing Agency and will need to achieve higher minimum credit scores under changes announced today by Housing and Urban Development Secretary Shaun Donovan.

In testimony prepared for a House hearing on the agency's increasingly precarious finances, Donovan also said he was considering raising the premium the FHA charges for mortgage insurance and will ask Congress for the authority to do so if needed.

He wants to make those and other changes because a recent audit has shown that the FHA's reserves have fallen below mandated levels as the agency has become a larger part of the housing market. The percentage of mortgages insured by the FHA has soared from 6% in 2007 to almost 30% this year. The FHA insures mortgages made with as little as 3.5% for a down payment and has become vital in a housing market where credit remains tight and borrowers' bank accounts have been depleted by the financial crisis.

In Southern California, the number of FHA-backed loans has soared, becoming a crucial source of financing for first-time home buyers, particularly those snapping up foreclosed homes. FHA loans made up 38.3% of all Southland purchase loans in October, up from 32.5% a year earlier and just 2% two years prior, according to MDA DataQuick, a San Diego real estate research firm. Riverside County had the region's highest rate of FHA loans, at 49.2% of the market.

"The loans FHA insures must be safe and self-sustaining for the taxpayer over the long-term," Donovan said in his testimony. "With these reforms and others we will be considering, the Administration is committed to ensuring that they are today -- and into the future."

Donovan said the expanded role of the FHA, which he oversees, is only temporary until the mortgage financing market recovers.

Many lawmakers are concerned that the FHA, which is funded by mortgage insurance premiums paid by borrowers, will need an infusion of government money. The agency is supposed to hold a secondary reserve fund equal to 2% of all the mortgages on its books. An annual independent actuarial study released last month showed the reserve had fallen to .53%.

Aware in September that the reserve fund would fall below 2%, the FHA announced several policy changes to reduce its risk of future losses to limit the chances the fund will have to be tapped. Those changes included requiring lenders to have at least $1 million in cash and other assets, up from $250,000, to issue FHA-backed loans.

But with the actual shortfall of the reserve fund larger than expected, Donovan announced the additional changes today.

"We've learned from recent history that the market is fragile, and we have to plan for the unexpected," he said.

Many details still need to be worked out. For example, the agency wants to increase the upfront cash required from borrowers so they "have more 'skin in the game' and a stronger equity position in their loans."

But administration officials are analyzing several ways to do that. Likewise, HUD is analyzing what the minimum credit score should be for an FHA-backed loan. Any change there would be temporary, he said.

Donovan can make those changes without congressional approval, but would need a vote by lawmakers to increase its mortgage insurance premium because it is at the mandated limit.

Donovan did not propose increasing the minimum down payment from 3.5%, a change some lawmakers are advocating. Rep. Scott Garrett (R-N.J.) has introduced legislation raising the minimum down payment to 5%.

Courtesy of LA TIMES

Keller Williams, Coldwell Banker get top marks in J.D. Power homebuyer survey

2009-09-17T15:45:00.000-05:00

Two residential sales firms with broad operations in the Dallas-Fort Worth area ranked tops in a new comparison.

Keller Williams rated highest in homebuyer survey released Thursday by consumer research firm J.D. Power and Associates.

Coldwell Banker placed second in buyer satisfaction but was highest rated by home sellers quizzed for the annual report.

The study rates national brand residential sales firms based on overall satisfaction with the agent, the office and additional services.

Re/Max and Century 21 also performed above average, according to buyers.

J.D. Power said that both buyers and sellers indicated that while the performance of the agent is the most important factor in their overall satisfaction, the importance of additional marketing services has grown in the last year.

The study also found that the number of first-time buyers in the housing market grew this year to 56 percent from 44 percent in 2008.

“The presence of more first-time buyers is encouraging, as it indicates that the real estate market is returning to more normal activity, with fewer speculators," Jim Howland, senior director of the real estate and construction practice at J.D. Power and Associates, said in the report. "However, real estate companies and agents must carefully manage first-time buyer expectations.”

J.D. Power also found that agents are holding fewer open houses to sell properties, but the number of sellers using the Internet to market their properties is at a record 64 percent.

The Power survey did not rank local and regional residential sales firms, which dominate the business in some markets.

By STEVE BROWN / The Dallas Morning News

Keller Williams Realty Receives Nod as the Highest Ranked in Customer Satisfaction

2009-09-02T14:38:00.000-05:00

According to the J.D. Power and Associates 2009 Home Buyer/Seller Study, Keller Williams Realty, Inc., the third largest real estate company in North America, received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms for the second year in a row. The company also ranked second-highest among home sellers in the study.

“We couldn’t be prouder. This is an achievement our associates have truly earned. It is the face-to-face interaction and the relationships they build daily that has impacted this study and elevated Keller Williams Realty to another level in customer service,” said Mark Willis, CEO of Keller Williams Realty. “Knowing that this study was conducted during the toughest times the market has seen shows that spirit and dedication can make an impact.”

The study was produced by J.D. Power and Associates to measure home buyers’ and sellers’ customer satisfaction. The results of the home-buying experience were determined by three factors including the agent, office and the package of additional services.

“I am absolutely beaming with pride that our agents have been honored in such a fantastic way,” said Mary Tennant, president and COO of Keller Williams Realty. “We are lucky to be in business with such incredible business people, who have shown incredible resolve over the past two years. If there was a time to build their business, it is now.”

About Keller Williams Realty Inc.:
Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 679 offices and 73,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale visit Keller Williams Realty online at (www.kw.com).

New 2009 Allenton Oklahoma Parade of Homes Show Home

2009-08-31T16:50:00.005-05:00

7835 NW 133 in Canyon Lakes

The new 2009 Allenton Parade of Homes custom home in NW Oklahoma City. Come preview this wonderful lakefront home on September 26 - October 4 from 1:00 - 7:00 PM. Call Wyatt Poindexter with Keller Williams Realty for more information at 405-417-5466.

Website coming soon:
www.7835nw133.com

www.WyattPoindexter.com

Luxury Living on a Smaller Scale

2009-08-12T10:23:00.004-05:00

OPEN HOUSE This Sunday August 16 2:00-4:00 PM

2009 AllenStyle Home just completed in July 2009. This home was built by award winning AllenStyle Homes. All of the amenities of a luxury home on a smaller scale. This is a waterfront property located in Northampton III of Edmond. Some of the features include: granite in kitchen, all bathrooms and utility, stained driveway, gas range, kitchen island, breakfast bar, eating area, office/study with view of water, 20x20 tile floors, hand scraped wood floors, fireplace, pre-wired for HDMI, barrel ceiling in entry, double vanities, whirlpool tub, covered patio, extra garage storage, security system, custom vent hood, etc. This house is truly one of a kind. Please see professional Obeo photographs and virtual tours. THIS HOME CANNOT CLOSE UNTIL OCTOBER 15TH BECAUSE IT IS ON THE PARADE OF HOMES. AllenStyle Homes can custom build for you with a 3 month completion date. Call Wyatt Poindexter for details 405-417-5466.

www.2301nw159.com

2301 NW 159th Terrace
Edmond, Oklahoma
Northampton III Addition
(NW 159th and Penn)

www.WyattPoindexter.com

Oklahoma City Defies Recession

2009-08-12T10:22:00.000-05:00

Of the five big metro areas with the lowest unemployment rates — Salt Lake City, Oklahoma City, Washington, San Antonio and Austin — four are state or U.S. capitals and all have a large government workforce.

Oklahoma City's economy is not only diversified but, by coincidence, is strong in areas that are thriving — or at least not collapsing — in this recession:

•Government jobs: As a state capital, it has a jobs base that enjoys the stability of government — federal, state and local. Despite budget shortfalls across the USA, state and local government are among the few parts of the economy that have added jobs during the recession.

•Medical and education jobs: Oklahoma City has large medical facilities and universities, types of employers that have held up well in the recession.

•Energy jobs: Oklahoma City is home to the state's two largest oil and gas companies, Devon Energy and Chesapeake Energy.

The city also escaped the real estate bubble.

The area's median housing price is $129,900, up 4% from a year earlier, according to the National Association of Realtors. Nationally, housing prices were down 14% during that time.

"Our highs are not high, and our lows are not low," says Michael Bernard, president of the Mid-Continent Oil and Gas Association of Oklahoma.

April 2009 Recognition for Oklahoma

2009-05-19T14:12:00.002-05:00

NewsOK.com was honored earlier this month as one of the top 12
newspaper media websites in the world by the International Digital
Arts and Sciences. The Washington Times, the New York Daily News,
USA Today and The Wall Street Journal were also nominated.

More than 667,000 visitors attended 50 events at the Ford Center
during the first quarter, according to SMG, which manages the
facility owned by Oklahoma City.

Bob Howard Toyota, 12929 N. Kelly Avenue, received Toyota Motor
Sales U.S.A. Inc.’s President’s Award for outstanding sales and
service. The dealership has received the award five times.

Four energy giants from Oklahoma earned spots on the annual Fortune
500 list of the country’s 500 largest publicly traded companies.
Oneok Inc. was 159th, Devon Energy Corporation placed 163rd, Williams
Company was 218th and Chesapeake Energy Corporation came in at 230th.

Baptist Medical Center and Oklahoma Heart Hospital were among the
top 125 hospitals in the nation on a list published by AARP The
Magazine. (The Journal Record, 04/01/2009)

Tulsa and Oklahoma City are among a select group of metro areas that
as of January hadn’t succumbed to the recession, according to
msnbc.com. (Tulsa World, 04/09/2009)

Oklahoma City is the winner of the “Mission:Orange” campaign by the
American Society for the Prevention to the Cruelty to Animals which
provides additional money and staff to shelters in the fight against
pet overpopulation. (The Oklahoman, 04/14/2009)

The number of visitors to the state’s tourism information centers is
up by 12% compared to last year, despite the economy. (Tulsa World,
04/14/2009)

Chesapeake Energy Corporation of Oklahoma City ranked 12th on Outside
magazine’s second annual “Best Places to Work” list. (The Journal
Record, 04/27/2009)

"Summerize" Your Home with These Spring Projects

2009-05-18T10:08:00.001-05:00

It's hard to believe, but the official start of summer is just a few weeks away! Here are some spring cleaning projects you should definitely consider tackling before the hottest days of summer descend upon us.

Air Conditioning
It's important to have your air conditioner in perfect working order before summer starts. Taking care of any issues after the summer heat hits can potentially result in an increase in price, as well as an increase in the time it takes for a technician to visit your home. You should also replace any filters now. Simply remove the old one and take it to your local home improvement center. Sales representatives should have no problem finding its replacement.

Clean out your garage
Organizing a garage can be an excruciating experience during the hot summer months, so if that's something you need to do, don't put it off any longer. Once you clean out your garage, either donate any unwanted items or sell them.

Paint
Late spring is the perfect time to paint the interior of your home since the weather best lends itself to keeping your windows open, allowing the fresh air in and the paint fumes out. If you decide to paint the inside of your home, think about lightening the existing color as opposed to darkening it. Lighter colors are not only inviting, they create the illusion of a bigger, more open space.

Buy fans
Installing ceiling fans and using portable fans are great methods for cutting the heat inside your home. They are also far less expensive to use than an air conditioner. Using fans of any kind also enables you to keep windows open at night, allowing fresh air to circulate throughout the house.

Install dimmer switches
Dimmer switches not only add ambience, they also cut down on energy and the unwanted heat given off by brighter bulbs. Another tip is to use low-wattage light bulbs whenever possible.

Good luck and happy "summerizing!"

The EDGE Takes Malibu Home Battle Online

2009-05-04T11:57:00.003-05:00

The Edge has taken to the WWW to give his side of the story in the ongoing battle over his plans to build a series of homes high in the Malibu hills. The web site is called Leaves In The Wind, and you can check it out via the link below.

http://www.leavesinthewind.com/

New Cape Cod Listing in Edmond Oklahoma - $289,900

2009-04-29T10:56:00.005-05:00

www.1816OldeTowne.com
1816 Olde Towne Road
Edmond, Oklahoma 73034
$289,900
4 Bed 2.5 Bath 2,721 SF

Cape Cod style home nestled among lush, mature trees in the highly sought after Olde Towne neighborhood. 4 Bedrooms 2.5 Bath 2 Living 2 Dining with 2,721 Square Feet. Beautiful walking paths, fabulous neighborhood park and fishing pond. This home consists of: custom draperies, french doors, new carpet, hardwood floors, gas fireplace, Jacuzzi tub, new stainless appliances, wood plantation shutters, mudroom, dual zone HVAC, sprinkler system, lush landscaping, Ralph Lauren wallpaper, etc. VISIT: www.1816OldeTowne.com for Obeo tours.

YouTube Obeo Tour

Wyatt Poindexter
Keller Williams Realty
405-417-5466
www.WyattPoindexter.com

Nicoma Park Celebrates 50 Year Anniversary

2009-04-28T17:27:00.002-05:00

Nicoma Park will be celebrating 50 years of community Saturday May 2. Nicoma Park officially became an incorporated city in 1959, but its history began years before that.

It was during the land run in 1889 that three brothers staked their claim in the area presently known as Nicoma Park, although at that time it was called Oak Hill.

The Founder’s Day Celebration will kick off in front of city hall on Nichols Drive at 9 a.m., and will continue to run through 11 p.m.

Oak Tree in Edmond Looks to Rename

2009-04-28T17:03:00.001-05:00

The new owner of Oak Tree Golf Club in Edmond says the club will reopen in July under a new name - Oak Tree National.

Oklahoma businessman Ed Evans bought Oak Tree last year and says the new name represents updates to the club that include a renovated course and a new teaching facility.

Evans says he expects the upgrades to help the members-only club become a nationally-renowned course.

He says details about the golf course's new design will be announced in July in conjunction with the grand opening of Oak Tree National.

Oak Tree was built in 1974 and hosted the 1984 U.S. Amateur, 1988 PGA Championship, 2000 PGA Club Pro Championship and the 2006 Senior PGA Championship.

Symphony Show Home in Heritage Hills

2009-04-28T16:56:00.002-05:00

The 36th annual Symphony Show House opens the doors of one of Oklahoma City’s most storied homes to the public. This year’s featured home is the Caldwell house, built in 1918 by oilman and banker Walter D. Caldwell in what is now Heritage Hills.

The home was sold to oilman E.W. Marland, and then leased by corrupt Oklahoma governor John “Jack” Walton, who used it as the governor’s mansion at the time. His tenure lasted less than a year.

In 1959, the Veazy family purchased the home. Some of its interior features came from their popular drug stores. Currently the home is owned by John and Denise Bode.
Fifty-eight designers united this year to decorate the home for Symphony Show House and each space showcases their work. Show house hours are 10 a.m. - 4 p.m. Monday - Saturdays and noon - 5 p.m. Sundays April 26 - May 17. Admission is $15 at the door. Visit www.symphonyshowhouse.com for more information. Courtesy of Peter Gill - OKC Friday

Listing of the Week - 4949 Penn Place $204.900 Edmond, Oklahoma

2009-04-28T16:42:00.004-05:00

4 Bed
2.5 Bath
3 Car Garage
2,157 SF
1.08 Acres
Deer Creek Schools

This nice and updated Edmond home was built in 2003 and is located in Deer Creek School District. Very quiet and private street with wonderful views of open acreages. This home sits on more than 1.08 acres and features: wood floors, updated paint, updated fixtures, open floor plan, fireplace, tall ceilings, brand new 2009 roof, sprinkler system, covered patio, large 10x12 outbuilding w/ electricity, above ground swimming pool, etc. Call Wyatt Poindexter with Keller Williams Realty at 405-417-5466 or visit www.WyattPoindexter.com.

HOME OBEO VIRTUAL TOUR:
www.4949PennPlace.com

YouTube:

http://www.youtube.com/watch?v=4NszC5-j1bY

MARCH 2009 - Oklahoma Recognition

2009-04-13T15:16:00.003-05:00

• According to Forbes magazine, Oklahoma City is 12th and Tulsa is
ranked the 47th top metro area “Best Places for Businesses and
Careers.” (Tulsa World, 03/31/2009)

• Tulsa’s hiring outlook is the 10th best in the country, based on a
survey by Manpower Inc. that released earlier this month. (Tulsa
World, 03/10/2009)

• Three Oklahoma companies have been named to Fortune magazine’s list
of 363 “World’s Most Admired Companies.” Devon Energy Corp., ONEOK
Inc. and Williams Cos. Inc. all made the list. (The Oklahoman,
03/04/2009)

• The rate of Oklahoma foreclosures remained steady in February,
however significantly fewer people are losing their homes compared
to a year ago. Because of this, Oklahoma has dropped to having the
34th highest foreclosure rate in the nation. (The Oklahoman,
03/12/2009)
• Foreclosures in February:
o U.S. 290,631
1 foreclosure per 440 households
o Oklahoma 1,030
1 foreclosure per 1,576 households

• Oklahoma has the largest percentage of wireless-only households in
the nation, 26%, according to a recent study by the CDC in Atlanta.
(The Oklahoman, 03/12/2009)

• Oklahoma’s laws that protect teenagers from abusive relationships
are some of the best in the country, according to a report from a
national youth advocacy group. Only four other states were given an
‘A’ rating along side Oklahoma. (The Oklahoman, 03/24/2009)

• Oklahoma ranks sixth nationally in its licensing standards and
oversight for childcare centers, according to a report from the
National Association of Child Care Resource and Referral Agencies.
(The Oklahoman, 03/13/2009)

• Oklahoma’s per capita – or per person – personal income rose from
$34,997 in 2007 to $36,899 last year. The latter figure also placed
the state at No. 4 nationally in 2008 for percentage growth, up from
No. 6 the year before. (The Oklahoman, 03/25/2009)

U2 is FINALLY coming to Norman, Oklahoma - U2 360!

2009-04-13T12:46:00.016-05:00

Date: October 18, 2009

City: Norman (Home of the SOONERS!!!)

State: Oklahoma

Venue: Oklahoma Memorial Stadium

Opening Act: Black Eyed Peas

I know my Blog is about Real Estate but I had to mention "something" about U2 coming back to OKLAHOMA!!!

I am a huge U2 fan and long time member of Propaganda (U2's fanclub name from the 80's). I was one of the fans that won the NYC book signing back in Sept 2006. What a great experience it was to meet each member of U2. What great and humble guys they were. Anyway, I showed each one of the members photos of the last time they played in Oklahoma. They played in Norman, Oklahoma in 1983 at the Lloyd Noble. I was 12 at the time and unable to make it to the concert! Edge promised that they would try to make it back to Oklahoma since it had been so long. Bono LOVED the photo that I showed him of himself onstage in Norman in 1983. He laughed OUT LOUD and said how young he looked and commented about his “mullet”. He saw my Oklahoma Sooners sweatshirt and asked me if I was from Oklahoma. He then promised to make it to Oklahoma just so I could have a better updated photo of himself onstage. He then signed my book “The Fish of Oklahoma”. I don’t know what that means but it’s still awesome! I also started the online petition trying to get U2 to come to Oklahoma:

http://www.petitiononline.com/u2okc

I was so surprised to see U2 coming to NORMAN, OKLAHOMA this October!!! It truly is a long time dream of mine to see my favorite band in my home state. They are truly keeping their word!!

The last time U2 has played Oklahoma was June 10, 1983 during the War Tour.

Support Act: The Alarm

Setlist from 1983:

1. Out Of Control

2. Twilight

3. An Cat Dubh

4. Into The Heart

5. Surrender

6. Two Hearts Beat As One

7. Seconds

8. Sunday Bloody Sunday

9. The Cry

10. The Electric Co. / Send In The Clowns (snippet)

11. I Fall Down

12. October

13. New Year's Day

14. Gloria

encore(s):

15. 11 O'Clock Tick Tock / Drowning Man (snippet)

16. I Will Follow

17. 40

Listing of the Week - NW Oklahoma City - $117,900

2009-04-13T12:19:00.003-05:00

1625 Oxford Way - NW Oklahoma City

3 Bed 1 Bath 1,517 Square Feet. Three blocks from Nichols Hills! Extra cute home in great neighborhood on corner lot. This home has beautiful wood floors, updated paint, fixtures, bathroom, etc. Master bedroom has cozy fireplace. Large open kitchen and dining room. New roof in 2007. ONE YEAR WARRANTY INCLUDED FOR NEW BUYER. Call/email Wyatt Poindexter with Keller Williams for additional information.

View OBEO VIRTUAL TOURS AT: http://www.Obeo.com/529993

YOUTUBE: http://www.youtube.com/watch?v=G46F9U-o3V4

OPEN HOUSE THIS SUNDAY APRIL 19, 2009 2:00-4:00 PM

Wyatt Poindexter
Keller Williams Realty
www.WyattPoindexter.com
405-417-5466

Oklahoma City Market for February 2009

2009-03-12T13:07:00.002-05:00

Oklahoma City Recognition

• The metro area’s average sales price for 2008 was $151,700, an
increase of 0.84% compared with 2007. Statewide, the average sales
price for the year was $149,482, an increase of 0.52% compared with
2007 (The Oklahoman, 02/21/2009)
• Oklahoma home builders are bracing for a rush of buyers now through
November 30 when the first time home buyer credit expires.
Oklahoma’s market, because it’s relatively strong, could respond to
the stimulus faster than areas where housing values have plummeted,
said Steven R. Plaisance, president of the Oklahoma Mortgage Bankers
Association and executive vice president of secondary marketing for
Arvest Mortgage Company in Tulsa. “Our affordable home prices and
the historically great mortgage rates make this a good deal for
Oklahomans,” he said. (www.NewsOK.com, 02/18/2009)
• Oklahoma State University’s School of Architecture has earned a
place among the top 20 in a nationwide survey of architectural
undergraduate programs. (The Oklahoman, 02/07/2009)
• Oklahoma’s two largest counties both had above-average employment
and wage growth in the second quarter of 2008. Among 334 large
counties in the U.S., Oklahoma County ranked ninth in rate wage
growth with an over-the-year increase of 6% to $777 a week. Wages in
Tulsa County rose 3.2% to $766, also above the 2.6% national
average. (www.NewsOK.com, 02/03/2009)
• Oklahoma City based Paycom, an online payroll processor, grew its
revenues 89% in 2008 despite a slumping economy. (The Oklahoman,
02/24/2009). Courtesy of Opubco.

www.WyattPoindexter.com

Keller Williams Realty surpasses Remax in 2008!

2009-03-02T13:52:00.003-06:00

Keller Williams Realty Inc., announced last week at its annual convention in Orlando, Fla. that it is now the third-largest real estate franchise in the United States, surpassing RE/MAX® International. “The success of Keller Williams Realty can be directly attributed to the hard work and perseverance of our associates and the soundness of our economic and organizational models,” said Mark Willis, CEO of Keller Williams Realty, Inc. “While others might be looking at this market and seeing fear and uncertainty, we have always approached it as our opportunity to shine and grow. And that mindset has paid off.”

The company has been gaining ground for the last three years, outpacing pervasive downward trends in the real estate industry. From 2006 to 2008, Keller Williams Realty increased its associate count by 52 percent, market share for its offices increased 83 percent and agent gross commission income went up 35 percent. Currently, the company has 679 offices operating in the United States. The company also shared more than $30 million in profits with its associates in 2008 through its company-wide profit sharing program.

“Through profit share, our phenomenal coaching and training and our technology offerings, we are offering agents their own ‘bailout plan’ for this market,” Willis added.

The company also announced that after years of searching for a partnership to provide its associates with affordable health insurance, they are moving forward with a solution.

The soon-to-be-launched Keller Williams Health Providers Program will include options for major medical, limited medical, catastrophic coverage and a separate cancer plan. The health insurance coverage is the first step toward a total wellness program for associates.

“We have always been very aware that as independent contractors, our agents face barriers to obtaining health coverage,” said Mary Tennant, president and COO of Keller Williams Realty. “We know that for many, this new option may alleviate some of the stress that they face in today’s economy. After all, our associates are not just our partners – they are our family.”

Last fall, the company also announced the launch of KW Commercial, a new division of the company dedicated to providing commercial real estate associates with specialized technology, marketing tools and resources. KW Commercial already has more than 220 active brokers across the U.S. and Canada.

“Our growth in the last year and now becoming the third-largest real estate company in the United States was a true team effort and a company-wide win. We are so grateful for all of the leadership and commitment our associates have shown to power through this shift,” added Willis.

About Keller Williams Realty Inc.:

Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with more than 690 offices and 74,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).

Wyatt Poindexter - www.WyattPoindexter.com

Obeo Virtual Tours launches new Facebook Fan page

2009-02-26T10:20:00.002-06:00

Obeo Virtual Tours has just launched a new fan page on Facebook.com!

Facebook has over 150 million members worldwide and is one of the top ten most visited websites on the Internet. Facebook allows people and businesses to connect and interact with each other in a common platform. We have created this page on Facebook to allow our clients, employees, photographers and fans of Obeo to interact more with each other and get the latest information about Obeo.

On the Obeo Facebook page, you will find:

Brief information about Obeo.
Recent Obeo News/Updates.
Special promotions on a regular basis.
Great photography examples from our Obeographer network.
Comments and discussions about Obeo.
A list of Facebook members who are fans of Obeo.

The Obeo fan page is located at:

http://www.facebook.com/pages/Obeo/52258170123

About Obeo
Since its inception in 1999 and its evolution from 360 House to Obeo in 2004, the Salt Lake City, Utah-based company has become the largest preferred supplier of full-service residential real estate online marketing products in the United States and Canada. The Latin word for “to go to” or “to encompass,” Obeo provides REALTORS®, homebuilders, land developers and property managers with customized online marketing solutions and offline sales tools. To find out more, go to www.Obeo.com.

Free Video Upgrades for Obeo Virtual Tours

2009-02-26T09:51:00.004-06:00

Obeo Virtual Tours is very excited to introduce several new video options for you to enjoy!
This free service takes the still photos and panoramas from your listings and turns them into an interactive video presentation. Any past and future Obeo Tour can now be exported to a high-quality video and can be viewed on sites like YouTube.

www.Obeo.com

Wyatt Poindexter
Keller Williams Realty
405-417-5466
www.WyattPoindexter.com

Mortgage Rates Today Feb. 23, 2009

2009-02-23T12:59:00.001-06:00

Good Morning everyone. I hope all is well with each of you. I hate to sound repetitive, but in some ways it is good to know that rates haven't changed much.

Overall, not much of a change from last week and rates just seem to be steady (or stagnant if you want to look at it that way).

With the passage of the new 1st Time Homebuyer Tax Credit of $8000, there has never been a better time for new time buyers. An $8000 Tax Credit, Low Interest Rates AND an Inventory to choose from.

Wyatt Poindexter
Keller Williams Realty
www.WyattPoindexter.com

Edmond Oklahoma Real Estate Overview

2009-02-20T08:35:00.002-06:00

Average price per square foot for Edmond OK was $99, an increase of 4.2% compared to the same period last year. The median sales price for homes in Edmond OK for Nov 08 to Jan 09 was $165,000 based on 220 home sales. Compared to the same period one year ago, the median home sales price increased 0%, or $0, and the number of home sales decreased 32.7%.

There are currently 1,478 resale and new homes in Edmond on Trulia, including 34 open houses, as well as 3 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Edmond OK was $335,643 for the week ending Feb 11, which represents a decrease of 1%, or $3,477, compared to the prior week.

www.WyattPoindexter.com

Nichols Hills, Oklahoma Overview 2009

2009-02-19T15:00:00.002-06:00

Nichols Hills housing prices continues to increase!

Average price per square foot for Nichols Hills OK was $185, an increase of 18.6% compared to the same period last year. The median sales price for homes in Nichols Hills OK for Nov 08 to Jan 09 was $360,000 based on 7 home sales. Compared to the same period one year ago, the median home sales price increased 2.6%, or $9,000, and the number of home sales decreased 12.5%.

There are currently 21 resale and new homes in Nichols Hills on Trulia. The average listing price for homes for sale in Nichols Hills OK was $509,349 for the week ending Feb 11, which represents a decrease of 6.9%, or $37,464, compared to the prior week.

www.Nichols-Hills.com

Great News for Home Buyers!!!

2009-02-19T09:54:00.000-06:00

This is the greatest opportunity we have had in a long, long, time!!! Please remember: a Tax Credit is not a tax deduction. It is a dollar for dollar savings in the total income tax paid.

This provision is a direct subsidy to home buyers. Just think what this means and the opportunities it opens to us.

How big is the first time home buyers' market: about 40% of the buyers nationally!!!! What a golden opportunity for us in Oklahoma with a median house price that is low. This credit is essentially a 10% price reduction on a $80,000 house and a 5% reduction on $160,000 house.

Combine that with the lowest mortgage rates in our lifetime and the opportunity is just mind boggling.

Oklahoma Real Estate 2009 Overview and Statistics

2009-02-19T09:15:00.002-06:00

Average Listing Price is $183,395.00
Medium Sales Price is $86,500.00
Average Price Per Square Foot is $67.00

Average price per square foot for Oklahoma City OK was $67, a decrease of 1.5% compared to the same period last year. The median sales price for homes in Oklahoma City OK for Nov 08 to Jan 09 was $86,500 based on 616 home sales. Compared to the same period one year ago, the median home sales price decreased 4.9%, or $4,500, and the number of home sales decreased 45.5%.

There are currently 2,286 resale and new homes in Oklahoma City on Trulia, including 12 open houses, as well as 58 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Oklahoma City OK was $183,395 for the week ending Feb 11, which represents an increase of 0.6%, or $1,136, compared to the prior week. Courtesy of Trulia.

Oklahoma City the most recession proof city in the US

2009-02-19T09:10:00.002-06:00

Forbes magazine recently highlighted America's most recession proof cities and listed OKLAHOMA CITY as the most recession proof city in the U.S.

Forbes cites three keys to Oklahoma City's strength:

1. strong housing market
2. falling unemployment
3. strong growth in agriculture, energy and manufacturing

Oklahoma City is a great place to live!

2009-02-19T09:05:00.003-06:00

Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly--or even contract--in the first half of the year.

But Oklahoma City is doing just fine. With falling unemployment, one of the country's strongest housing markets, and solid growth in agriculture, energy and manufacturing, it looks best positioned among the nation's largest metropolitan areas to ride out the current crisis.

www.WyattPoindexter.com

First Time Home Buyer Tax Credit

2009-02-18T16:04:00.003-06:00

President Obama just signed the stimulus package. We thought you may want to know how it could benefit you.
This tax credit will apply to First Time Home Buyers and those who have not owned a home in the past 3 years. This tax credit, unlike the previous one, does not have to be repaid. The tax credit is equal to 10% of the homes purchase price up to a maximum of $8,000. It applies to First Time Home Buyers who purchase a home between Jan. 1, 2009 and December 31, 2009. For Single taxpayers with income up to $75,000 and Married taxpayers up to $150,000.
Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability.
Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)
Combined with the low interest rates this may be a great time for you to buy!

Wyatt Poindexter
Keller Williams Realty
405-417-5466
www.WyattPoindexter.com

6 Important Things T0 Know When Refinancing

2008-12-23T10:22:00.002-06:00

Looking to Refinance? 6 Important Things To Know:
1. Refinancing an FHA Loan – Most people do not know that if you currently have an FHA loan, you will be charged interest through the end of the month no matter what day of the month you pay it off. This is crucial – if you are currently in an FHA loan, and your lender schedules the closing date in the beginning of the month, or even in the middle, you are going to pay interest on your new loan from closing until the 30th/31st, but you will ALSO pay interest on your old loan through the end of the month. Per day Interest can run anywhere between $20-$100 per day (depending on loan size), so if you close too early you could literally waste one to two thousand dollars in interest that is not necessary.

2. Refinancing an FHA Loan, pt 2 – When you purchased or refinanced into an FHA loan previously, you paid an ‘Up Front Mortgage Insurance Premium’ – otherwise called an FHA Funding Fee. If you are refinancing into a new FHA loan, you are entitled to a partial refund of your previous FHA Funding Fee. This could be anywhere between $500-$3,000, and it is important that your lender takes this into account.

3. Streamline Refinancing – If you are currently in an FHA or VA loan, you will not have to requalify for a new one. By virtue of the fact you were qualified before, you automatically qualify for a new FHA or VA loan as long as you are only lowering your interest rate (not getting cash back). So, just because your job or income situation has changed, don’t count yourself out. The only thing that would really be a problem is if you haven’t made your mortgage payments. But a Streamline Refinance is essentially a “everyone qualifies’ refinance, and no employment, income, or assets are even listed on the loan application.

4. True Payback? – Many people look at interest rates as a “shiny red car”, and unfortunately are all too willing to take a refinance option simply because there is a low rate along with it. This may sound cliché, but there are many other factors that need to be considered for you to decide whether you should refinance or not. A $200 per month savings is great – but what if it adds 3 years onto your mortgage, and raises your balance by $5,000? It might still be worth it, but it might now. A lot of it depends on your future plans, and how long you will stay in your house. Make sure that your lender calculates how long it takes for you to recoup the costs of refinancing, to see if it makes sense in light of your future plans.

5. Appraised Values – Although we are seeing values hold steady for the most part in Oklahoma, that isn’t always the case in every neighborhood. Before you spend $300-$400 on an appraisal, your lender should do you the courtesy of checking with an appraiser to make sure your house will still appraise high enough to refinance. 8 times out of 10, you’ll have nothing to worry about, but the other 2 times it would be really bad to spend that much money on an appraisal only to hear that the house won’t appraise, and the refinance will not work. Of course, an appraiser can’t be held to giving a “comp check”, but it at least gives everyone a good idea of whether it makes sense to order a full appraisal, to get the true appraised value at this time. Additionally, I would recommend working with a lender who has a say in who the appraiser is, as opposed to one who has their appraisal orders assigned out in a round-robin fashion.

6. Market Volatility – Neither the government, nor the Fed, sets mortgage rates…they are determined every day by what yields investors in the bond market are willing to receive to invest their dollars into mortgage pools. This can change a LOT from day to day. We have seen rates at 5.5% (or lower) only 3 times this year. Once in January/February, once in June/July, and right now. Both of the other two times, the low rates lasted about 2 weeks. Even with a slight increase in rates on Monday December 22nd, interest rates are still at all time lows. If you can take advantage of this, I would recommend it. Although there is a possibility for rates to go lower, but they can’t possibly go too much lower than the levels they are at now. But also, there is also a possibility that rates go higher, and there is much room for them to increase.

Courtesy of Brian & Heather Bomar of www.TheBomarTeam.com

Great News for Oklahoma City Jobs

2008-10-31T16:19:00.001-05:00

Jobless rate falls for most of state
BY DEBBIE BLOSSOM Business Writer dblossom@opubco.com

The jobless rate in all but three Oklahoma countries dropped in September, the Oklahoma Employment Security Commission reported Tuesday.

The county rates followed a statewide 0.3 percent drop in unemployment last month, which put Oklahoma’s nonseasonally adjusted unemployment rate at 3.5 percent for September. A year ago, the state’s jobless rate was 4.1 percent.

Unemployment rates increased in LeFlore, Okmulgee and Sequoyah counties, the OESC said.

McCurtain County posted the highest jobless rate, 6.7 percent; Beaver County had the lowest rate at 1.7 percent. Sequoyah County posted the biggest percent gain in unemployment of 0.3 percent; Adair County saw a 0.8 percent dip and Alfalfa County saw a 0.9 percent drop.

In Oklahoma County, the rate dropped to 3.7 percent from 4.0 percent in August. Tulsa County’s rate decreased to 3.4 percent from August’s 3.6 percent.

Labor force expands

Statewide, Oklahoma’s nonseasonally adjusted labor force and employment both expanded in September, while nonseasonlly adjusted unemployment shed more than 4,700 jobs. Unemployment decreased by more than 8,500, and both the labor force and employment increased from the same period a year ago.

National unemployment was at 6.0 percent in September, with more than 154 million people unemployed, the OESC said. In Oklahoma, close to 62,000 people were without jobs last month.

In a seven-state area, Oklahoma’s jobless rate was the lowest, followed by a 3.8 percent rate in New Mexico. The highest rate was at 6.2 percent in Missouri.

New Listing in Braden Park - NW Oklahoma City

2008-10-31T16:06:00.006-05:00

7417 NW 132 St.
Oklahoma City, OK
$229,900
4 Bed
3 Bath
2,509 SF

This home is located in gated Braden Park in NW Oklahoma City. This property is on one of the largest cul-de-sac lots and backs up to community pool, tennis courts and playground. This home features: gated community, brand new carpet & paint, professional landscaping, open floor plan, high ceilings, walk in closets, pass through garage, etc. Braden Park is a prime location close to Edmond, turnpike, hospitals, malls, food, etc. Call Wyatt at 405-417-5466 for more info or your own private tour.

VISIT: www.Braden-Park.com for Obeo Virtual Tours

Wyatt Poindexter
Keller Williams Realty
www.WyattPoindexter.com

2008-09-11T17:02:00.001-05:00

You can find great local Oklahoma City, Oklahoma real estate information on Localism.com Wyatt Poindexter is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

Keller Williams launches Commercial Division this Fall

2008-08-05T08:18:00.001-05:00

Keller Williams Realty, Inc., the fourth largest real estate company in North America, announced plans to launch a Keller Williams Realty Commercial Division this fall.

“Our goal is to expand our platform and make Keller Williams Realty the real estate company of choice in both the residential and commercial worlds by providing our associates the technology, marketing tools, and resources to succeed in the commercial business,” said Mark Willis, CEO of Keller Williams Realty. “We want to create synergy and referrals between the residential and commercial sides of our Keller Williams offices, increasing the income and production potential of all our agents.”
Buddy Norman, a veteran of commercial real estate has joined Keller Williams as president of the new division. Norman has more than 18 years of experience in the commercial real estate industry, including leadership within international firms, such as The Staubach Company and Burnham Real Estate, which was acquired by Cushman & Wakefield. He has led the development of new business divisions and trained commercial agents all over the U.S. including Dallas, Atlanta, Washington D.C. and San Diego. A consistent top producer, Norman has averaged approximately 400,000 square feet per year of commercial leasing and sales transactions over the last 10 years.
“There’s such a wide spectrum of commercial real estate experience within Keller Williams Realty,” said Norman. “We intend to build a strong commercial division paralleling the success and growth of the Keller Williams residential division.”
Norman will work with a newly created Commercial Leadership Council (CLC) – a group of 25 top Keller Williams commercial brokers from across North America to guide the launch and implementation of the new division.

How to Evalutate a Home Sellers Asking Price

2008-08-04T15:56:00.003-05:00

Evaluating an owner's asking price is crucial to your investment. The seller can set the asking price at whatever he or she wants. There are no laws or rules that must be followed when setting an asking price for a property. In fact, there are many strategies for pricing a property that can be related to motivation, negotiation, emotional investment in a property, and so many others..
Let's first look at some possible seller strategies for pricing a property so we understand how pricing can be dependent upon so many issues.
The seller could have an idea in his or her head as to what the property is worth, and, without any consultation, pick a price out of thin air. Or they could look at comparable sales (comps) of properties that have sold near the property to determine a fair market value. They can then price the property higher or lower, depending on how motivated the seller really is.
If there are no comps to compare properties, the seller may have to judge a property's worth based on a different type of property, property that sold a long time ago, and adjust for appreciation, or even look at neighboring, comparable cities that could indicate what the property is actually worth.
A truly fair seller could get appraisals done by a few different people, and take the average of the values.
Keep in mind, however, appraisals can be very expensive and are at best a guesstimate as to what a property is worth.
The best way to evaluate a seller's asking price is to blatantly ask the Realtor or seller, how the price was determined, and to give supporting evidence.
You may find yourself in a situation where the broker has a pile of comps, perhaps an appraisal, and supporting documentation as to why the property is priced at what it is. If you find yourself in this situation, beyond validating and verifying the supporting documents, you will very easily be able to evaluate if the asking price is above, at, or below market value. This is the easiest situation in which to find yourself.
Unfortunately, although this previous example is how every property should be presented to a buyer, it is not always realistic. You may have to ask the broker for comps and do the research yourself in order to evaluate the seller's asking price.
If the property is in your own community, then, as a real estate insider, you should know your real estate market inside and out. However, if you are searching in an unfamiliar area, you will need to request the services of other commercial real estate players.
If you do decide that the seller's asking price is in alignment with your investment strategy and goals, and you put the property under contract, the next step would be to get an appraisal done by an independent party that has no interest in the subject property whatsoever, in order to validate your assumptions.
This appraisal, after all, will be similar to a bank's appraisal and help to determine how much money can be loaned on the project. The closer you are to the bank's appraisal, the better shape you will be in to meet project costs, debt service and make your desired profit.
Knowing what a property is really worth and evaluating the seller's asking price are two major ways that you can approach making a sound and final decision regarding an investment. Always have supporting and verified documentation for the subject property so you know exactly what you are getting and for what price.

Listing of the Week in NW Oklahoma City

2008-08-04T08:37:00.004-05:00

5908 Sulgrave Manor

Oklahoma City, OK 73132

$182,500

OPEN HOUSE Aug. 17

2:00-4:00 PM

4 bed 3 bath 2530 SF (MLS #362102) Large family home in Lansbrook on quiet cul-de-sac. Walking distance to lake, community pool and rec area! Open floor plan with 3 living areas. Beautiful landscaping. 4 beds with MIL plan. Great established area close to local shopping, food, etc. SEE OBEO TOURS.

VIEW TOURS AT: www.obeo.com/486752

Wyatt Poindexter

Keller Williams Realty

405-417-5466

www.WyattPoindexter.com

High Temperatures Call For Water Conservation in OKC

2008-08-03T13:35:00.002-05:00

With triple-digit temperatures, citizens use a lot more water to keep themselves cool and their yards green. At this time, Oklahoma City citizens who live west of Council Road are feeling the effect of this heavy water use: exceptionally low water pressure. These citizens are asked to immediately begin practicing voluntary conservation, which will help restore their water pressure.

Other low-pressure situations are occurring in isolated areas, including the far western portion of the Oklahoma City service area. Those who live there and all other Oklahoma City citizens are asked to begin best-watering practices, reducing the amount of water used on their yards.

The following “best-watering” steps minimize water waste and will help ease the low water-pressure problems:

Water the lawn only when it needs it and in the early morning or late afternoon. Watering in the middle of the day allows most of the water to evaporate.
Make sure the sprinkler is aimed at the lawn not the street or sidewalk. If you water when it’s windy, water will go everywhere but on the grass.
Use a broom instead of your hose to clean the driveway or sidewalk.

These steps will further our water conservation efforts:

Run the dishwasher or washing machine only for full loads.
Keep a bottle of drinking water in the refrigerator. Running the tap to cool water is wasteful.
Reduce the use of the garbage disposal. It requires a great deal of water for operation. Dispose of food scraps and peelings in the trash or compost bin.
Fix leaky faucets. Drops of two tablespoons a minute can waste 15 gallons of water a day, 105 gallons a week and 5,460 gallons a year.
Install flow restrictors or washer-less faucets.
Don’t use the toilet as a wastebasket. A toilet uses five to seven gallons of water per flush. Low-flow toilets use only about 1.5 gallons per flush.
Turn off the water while brushing your teeth or shaving and save about two gallons of water.
Also, when cleaning a fish tank, water houseplants with the dirty water. It’s rich in nitrogen and phosphorous.
Decline the complimentary water in restaurants. Every water glass used requires two glasses of water to wash and rinse it.

Courtesy of www.okc.gov

Good News...Housing is still OK in Oklahoma

2008-08-02T12:28:00.002-05:00

Numbers don't lie, they say, but numbers can confuse, and Oklahomans seem confused by disturbing national housing statistics.

Despite consistently increasing home values -- from a statewide average sales price of $116,298 in 2002 to $149,758 in 2007 -- about half of Oklahomans surveyed said they thought the state's housing market was in fair or poor shape.

Oklahoma City is still known for its "healthy gains" in home prices in a monthly sales report from the National Association of Realtors. The steady stream of negative news from national news sources is drowning out the good news. Oklahoma is still going strong even though the days on the market are a little longer than last year. Not to worry, Oklahoma is still a great place to live!

Wyatt Poindexter
Keller Williams Realty
405-417-5466
www.WyattPoindexter.com

Listing of the Week in Val Verde of NW Oklahoma City

2008-08-01T10:10:00.004-05:00

12801 Plum Hollow - Val Verde

$776,900

5 Bed 4.5 Bath 5317 SF

Enter this 2007 remodeled home and experience a new standard of luxury living. This Gil Wright home has every amenity imaginable for the home owner who wants the very best. Precisely an entertainer’s dream, this home is set to please the largest of parties. The use of stone and brick combine to create a home of unparalleled beauty. Situated on approximately 1.5 acres of prime real estate, the new owner will find 5 bedrooms, 4.5 Baths, 5 living areas, a gourmet kitchen, 4 fireplaces, custom pool, flagstone patio/deck and spa with fountain, a grand foyer, holiday closet, photography room, and a oversized three car garage that is sure to please all in a home that has approximately 5,300 square feet. Whether your looking for a grand home to entertain or the ease of comfortable and quiet family living this home truly offers it all. CALL WYATT POINDEXTER w/ KELLER WILLIAMS REALTY for more information at 405-417-5466

VISIT OBEO VIRTUAL TOURS AT: www.OBEO.com/413634

Obeo helping buyers find new homes quickly!

2008-07-31T15:44:00.001-05:00

Finding a new house may prove to be a tough and exhausting task. But don’t worry, Obeo is here to help. At a first look, Obeo is just a huge database of houses for sale all around the US and Canada, but it is really much more than that. The site offers a large amount of extra features in order of making the searching experience fuller and more enjoyable. Some of these features are personalized tours, space designers, view points, and Obeo Connect which maintains you constantly in touch with interested buyers and sellers, amongst others. Browsing through the property database is completely free, but if you wish to enjoy everything else Obeo has to offer, you need to register to the site, enduring a quick, easy and completely free of charge. Obeo does not only look at the buyer’s point of view, but also of the seller, permitting him to submit any property he might be interested on selling. This service could save many users of the usually tiresome mission of finding the perfect house near them, letting them browse by price range, number of bedrooms, etc. although simple, the site is very well organized, with easy-to-use searcher which will enable the user to quickly find exactly what they are looking for.

WWLS Sports Animal with Oklahoma City NBA franchise

2008-07-31T15:40:00.001-05:00

Oklahoma City's new NBA franchise and Citadel Broadcasting have signed an exclusive agreement to broadcast the team's home and away games on WWLS 640 AM and WWLS-FM 98.1 FM (The Sports Animal) in Oklahoma City. The announcement was made live on The Sports Animal by Citadel Broadcasting Corporation Oklahoma City Market Manager Larry Bastida and Clay Bennett, chairman of the Professional Basketball Club, LLC.
"We are thrilled that Citadel and its strong sports stations will be the radio home of the NBA in Oklahoma City. The Sports Animal is recognized as the leader in Oklahoma sports radio and Larry and his staff offered enthusiastic support and creative ideas. We feel it's a perfect fit and a tremendous partnership," Bennett said.
WWLS-AM and WWLS-FM will be the flagship stations of a statewide network the team will form over the course of the next few months, leading up to the start of the season. The Sports Animal will broadcast all pre-season and regular season games beginning in October, plus all team post-season contests. The NBA preseason and regular season schedules are slated for release in early August. Team game announcers and studio hosts will be announced in the coming weeks.
Besides game broadcasts, the multi-year agreement with Citadel includes exclusive pre and post-game coverage at least 90 minutes before and after the game hosted by team announcers and Sports Animal staff. Citadel has also agreed to air a year-round weekly program focused on team news, a series of team-related segments throughout the day, and use its entire family of Oklahoma City radio stations to promote the team and broadcasts. Those include its other sports station, The New JOX 930 (WKY-AM) along with Rock 100.5 FM The KATT, 98.9 KISS FM (KYIS-FM) and 96.9 BOB FM (KQOB-FM). Citadel also offers unique team promotional opportunities via new media and its station websites. The two parties will soon announce additional programming initiatives and advertising opportunities.
"We plotted an aggressive course in our pursuit to be a team partner," Bastida said. "We feel it's a unique and exciting opportunity for our listeners, our advertisers and our employees to partner with this franchise and the NBA. "We're pumped!"
Bastida added watching the evolution of Oklahoma City over the past 15 years, from passing MAPS to, now, getting our own NBA Team, has been a thrill to be a part of. "So much credit goes to business and civic leaders, like the NBA-OKC ownership group, who continue to invest in the future of Oklahoma City."
WWLS-FM recently upgraded its signal by increasing its tower height by 1,300 feet and its wattage by 516%, offering a strong signal reaching well beyond the immediate Oklahoma City area. In 2007 WWLS was one of the five radio stations nominated for the National Association of Broadcasters Marconi Award, the industry's highest honor.
Citadel Broadcasting Corporation is the third largest radio group in the United States, with a national footprint reaching more than 50 markets. Citadel is comprised of 165 FM and 58 AM stations in the nationÕs leading markets, in addition to the ABC Radio Network business, which is one of the three largest radio networks in the United States.

Courtesy of WWLS www.thesportsanimal.com

Listing of the Month in Canyon Lakes

2008-07-31T15:34:00.006-05:00

13201 Blue Canyon Circle

$525,000

3 Bed 2.5 Bath 3450 SF

Exquisite attention to detail defines this stunning Allenton Fine Homes custom-designed home in gated Canyon Lakes. Nestled on a quiet wooded lot, this home features a main-level master suite with patio access, 2 secondary bedrooms, 2.5 baths, a gourmet island kitchen, butlers pantry, formal dining room, living room with vaulted ceilings and fireplace, study/office with built in bookcases, full room audio controls, huge master closet, etc. Canyon Lakes is a private gated community located between Northwest Oklahoma City and Edmond. It features private ponds, walking trails, campsites, community pool and clubhouse. This property is within minutes from local shopping mall, food, Mercy Hospital, golf, turnpike, etc. The property evokes joy through its serious beauty and proportions, its whimsical elements, its spectacular landscape and setting. An uncontrived flow to the property makes it both exceptionally livable and suitable for year-round entertaining at any level. Truly, this is a house to see today and come home to tomorrow. Please contact Wyatt Poindexter w/ Keller Williams Realty for detailed list of amenities or for your own private showing. Please see Obeo Virtual Tours and professional photographs.

VIEW OBEO VIRTUAL TOURS AT:

www.OBEO.com/483712

Oklahoma City among Forbes' top places to do business

2008-06-30T21:30:00.001-05:00

Sparked by top grades in income growth, Oklahoma City was highly regarded in Forbes magazine's list of Best Places for Business.
Overall, Oklahoma City ranked No. 13 and Tulsa was listed at No. 43 in the magazine feature.
Both cities performed particularly well in the income growth and cost of doing business categories.
Oklahoma City ranked No. 1 in income growth and Tulsa was right behind at No. 2.
Oklahoma City was No. 4 and Tulsa No. 5 in the cost of doing business category, which is an index based on the costs of labor, energy, taxes and office space.

NBA Owners Approve Supersonics to OKLAHOMA CITY!

2008-04-21T17:15:00.003-05:00

The Sonics could begin playing in owner Clay Bennett's hometown as early as next season if they can get out of the remaining two years of their lease at KeyArena.

Owners voted 28-2 in favor of the move, with Dallas and Portland voting against. Mavericks owner Mark Cuban has previously expressed concerns about the market size, and commissioner David Stern said the Trail Blazers, owned by Seattle software billionaire Paul Allen, didn't say why they voted the way they did.

"The vote further confirms that Oklahoma is in the big leagues and can compete with anyone," Oklahoma Gov. Brad Henry said in a statement.

March Listing of the Month

2008-03-24T15:34:00.006-05:00

$274,900.00
8101 Bridgeport Lane
OPEN HOUSE March 30, 2008 2:00-4:00

Large family home in Brownsville of Bethany, Oklahoma. This home features a large living room with vaulted ceiling and beautiful wood flooring. The formal dining room has built in display case for China or other collectibles. Remodeled open kitchen with island, breakfast bar and fireplace. Second living has fireplace, flat panel television and French doors. Master bedroom is downstairs and there is a full master suite upstairs that has kitchen area, walk in closets and full bath. See photos or call Wyatt for your own private showing.

VIEW OBEO VIRTUAL TOUR AT: www.Obeo.com/451817

Wyatt Poindexter
Keller Williams Realty
Oklahoma City
www.WyattPoindexter.com

New Loan Limits for FHA and Freddie Mac

2008-03-06T20:55:00.000-06:00

The new loan limits for FHA and Fannie Mae and Freddie Mac are now calculated at 125 percent of the HUD published median prices, with a floor of $271,050 and $417,000, respectively, not to exceed $729,750.

We expect the impact of these loan limit increases on the housing market to be significant because of the infusion of capital into the mortgage market, which should result in lower interest rates across the board. In addition, there will be a direct impact on high-cost areas that previously required borrowers to take out costlier jumbo mortgages.

As NAR research points out, increasing FHA loan limits will help an additional 138,000 Americans achieve the dream of home ownership and will allow nearly 200,000 homeowners to refinance and potentially keep their home. In addition, NAR believes that increasing the loan limits for Fannie Mae and Freddie Mac will bolster the housing finance market, which continues to be severely stressed, by providing an immediate infusion of much needed liquidity to the nation’s mortgage market.

An economic impact study conducted by NAR in January 2008 estimated that increasing the GSEs’ conforming loan limits would result in as many as 500,000 refinanced loans and could help reduce foreclosures by as much as 210,000. In addition, over 300,000 additional home sales could be generated, housing inventory would be reduced and home prices would be strengthened by two to three percentage points.

HUD was mandated in the Economic Stimulus Act to publish new loan limits within 30 days of the bill's signing by President Bush on February 13. NAR strongly supported this economic stimulus package because of the relief we felt it would bring our members.

Oklahoma Sooners Sports Memorabilia & Custom Framing

2008-02-29T12:00:00.013-06:00

For Sports Memorabilia & Custom Framing Visit:

Signature Framing

6716 NW 39th Expressway

Bethany, Oklahoma 73008

405-470-5834

www.myspace.com/signatureframing

www.SignatureFraming.net

Great News for Oklahoma Real Estate!!!!

2008-02-27T10:46:00.003-06:00

The 291-city report finds widespread declines, but the worst pain is found in California, where homes on average lost 6.7% of their value over the year; Florida, where homes prices declined 4.7%; and the desert Southwest, where overbuilt Arizona and Nevada continue to writhe.
Despite the drama in those places, though, prices in most of the rest of the country held up relatively well, losing less than 2% or even, in a few places, growing. The stability is found in the middle of the country, which never saw the stunning boom-year price increases that now are unraveling in former boom markets like Florida, California, Arizona and Nevada.
In eight states, house prices rose year over year: Utah, 9.3%; Wyoming, 8.3%; North Dakota, 7.8%; Montana, 6.9%; Texas, 6.2%; New Mexico, 5.4%; Washington, 5.4%; and Oklahoma, 5.1%.

Courtesy of: MSN.com and www.WyattPoindexter.com

Wyatt Poindexter
Keller Williams Realty
405-417-5466
wyatt@wyattpoindexter.com

Obeo Partners with Zillow.com

2008-02-20T13:59:00.002-06:00

Obeo, the largest provider of full-service residential real estate online marketing products in North America, today announced a partnership with real estate Web site Zillow. Zillow's newly launched free Listings Feed program allows brokerages and Web vendors across the country to automatically bulk feed their for-sale listings to Zillow.com, which reaches 4 million people each month.
Through Listings Feed, Zillow will also offer a virtual Sold Sign program in the coming months. Virtual Sign Sold allows a broker's branding and contact information to become permanently embedded in a sold home's Zillow page.
"An enhanced Obeo listing that offers a high-quality virtual tour and interactive tools such as SpaceDesigner, a drag-and-drop furniture layout planner; and StyleDesigner, a virtual home-remodeling tool, help our customers better market properties," said Glade Jones, Obeo's president and CEO. "Combine those features with the expanded reach Zillow's Listings Feed program provides and you've got an Obeo customer positioned to greatly improve their numbers - in any market."
Having that dynamic visual content and interactive research tools is critically important but only one component, according to Brent Gray, Obeo's chief operating officer. "An agent has to have the means to deliver that content to buyers," he said. "Establishing a relationship with a forward-looking industry giant like Zillow will help us give our customers the competitive edge they seek."
"At Obeo, our mission has always been to bring the best online marketing solutions to real estate professionals across North America, and to align ourselves with others doing the same thing," Jones said. "We are elated Zillow.com has joined our elite group of marketing partners that includes Google Base, Trulia, Realtor.com, Yahoo! Real Estate and Homes.com."

www.OBEO.com

Breaking News from CNBC

2008-02-19T11:30:00.000-06:00

Breaking News! CNBC just reported the six mortgage banking entities involved with the Fed to help resolve the foreclosure mess has agreed to a 30 day moratorium on foreclosures.

And now, the rest of the story...Interest rates were beating feet higher last week before the 3 day holiday and have not eased as of this morning. The Stock Market is attempting to break resistance this week to go higher and bonds are sliding-yields up. The Ten Year Note Yield was up 12 basis points last week (0.12 percentage point) and up almost 9 this morning. Oil prices are again up ~$3 to near $99 a barrel.

As always, enjoy the day and the warm weather, a joy-killing swine Canadian air mass comes tomorrow night.

Courtesy of:
Kevin Foreman
Globe Capital Home Loans
405-478-8484 direct
405-605-6141 office
405-605-6147 fax
kevinforeman@cox.net

Oklahoma not following recession's path

2008-02-18T10:15:00.001-06:00

WHAT IF the national economy threw a recession, but Oklahoma decided not to attend?
"We're not going to play along with the nation,” said Keith Geary, president of Capital West Securities in Oklahoma City. "For us here everything is going really well.”

Two sectors that are slowing the national economy — housing and energy — are positives for the local economy.
The average sales price of an existing home in Oklahoma rose last year by 4.24 percent while the number of foreclosures filed in the state declined nearly 13 percent. Meanwhile, about 39 percent of homes bought nationally last year are worth less than what the homeowners still owe, according to zillow.com.
While local consumers are no happier with near-record gasoline prices than those who live elsewhere, Oklahomans pay among the lowest prices for fuel. And those high prices have fueled expansion in Oklahoma's robust energy sector, which produces jobs, higher wages and taxes for the state.

Courtesy of: www.newsok.com

Economic stimulus package will help jumpstart housing market

2008-02-18T10:03:00.000-06:00

The economic stimulus package passed by Congress the first week of February may significantly boost the real estate market, according to the National Association of Realtors.
"We believe the economic stimulus bill that Congress sent to the president today is strong legislation that will quickly impact the nation's families and economy," said NAR President Richard Gaylord. "We are pleased that the Federal Housing Administration (FHA) and the Fannie Mae and Freddie Mac (GSE) loan limits have been increased, even if only temporarily. This will be a major stimulus for the housing industry and for people who want to own a home."
Mortgage Bankers Association Chairman Kieran P. Quinn also hailed last week's passage in the House and Senate of an economic stimulus package, saying: "This is an important step toward helping the U.S. economy. The housing components of the stimulus package should provide much needed liquidity for the mortgage markets, especially in areas with high housing costs. The temporary increase in the loan limits for FHA, Fannie Mae, and Freddie Mac will help consumers by providing important financing options, and will help restart the securitization market for higher value loans."
Increasing FHA loan limits will help an additional 138,000 Americans achieve the dream of homeownership and will allow nearly 200,000 homeowners to refinance and potentially keep their home, according to NAR research. In addition, NAR believes that increasing the loan limits for Fannie Mae and Freddie Mac will bolster the severely stressed housing finance market by immediately infusing much needed liquidity into the nation's mortgage market. "While such an increase will not solve the full range of housing challenges, it will play a vitally important role in improving the nation's economy and making the dream of homeownership more attainable for thousands," said Gaylord.
An economic impact study conducted by NAR earlier this month estimated that increasing the conforming loan limits would result in as many as 500,000 refinanced loans and could help reduce foreclosures by as much as 210,000. In addition, over 300,000 additional home sales could be generated, housing inventory would be reduced and home prices would be strengthened by two to three percentage points. "These are real results and will have an immediate and sustainable impact for families across our country," said Gaylord.

Mortgage Rates Falling

2008-02-16T11:17:00.001-06:00

Freddie Mac reported that the average 30-year Fixed Rate Mortgage (FRM) dropped to 5.67% in early February, down from a January of average of 5.76% and continuing a slide from a July peak of 6.73%. During the same time last year, FRMs averaged 6.22%. The average rate for a 5/1 Fixed Adjustable Rate Mortgage (ARM) fell to 5.21% in early February, down from a January average of 5.45%. The 1-year Treasury-Indexed ARM averaged 5.03% in early February, down from an average 5.23% in January. With all rates down, the 30-year FRM remains the value choice in this market; with the 5/1 Fixed ARM providing a balance between increased affordability and long-term security.

Existing-home sales to hold in narrow range, then begin upward trend

2008-02-16T11:15:00.000-06:00

The housing market may continue to be in the buyer's column over the next few months, according to the latest forecast by the National Association of Realtors. Sales activity is likely to remain soft during the next six months, in spite of low interest rates and lower prices. However, pent-up demand will likely bring potential buyers off the sidelines to boost home sales in the second half of the year. An economic stimulus package that increases access to conventional and government loans can also have a strong impact on the market.
"Existing-home sales have moved narrowly since last September, but when the full impact of higher loan limits for conventional mortgages begins to impact the market there is likely to be a notable rise in home sales and prices," said NAR Chief Economist Lawrence Yun. "If higher limits are enacted very quickly, we'll see a faster and more meaningful recovery by expanding safe, affordable financing in high-cost areas – that, in turn, would help to stimulate overall economic activity."
"Areas with a high prevalence of subprime lending will continue to feel downward price pressure. Where builders have cut construction sharply, and in most areas with improving affordability conditions, we'll generally see moderately higher home prices," Yun said.
New-home sales are likely to decline 17.7% to 637,000 in 2008 before rising 7.6% to 685,000 in 2009. "Builders will further lower new home construction throughout this year and into 2009 to bring inventory under control," Yun said. Housing starts, including multifamily units, are estimated to fall 20.1% to 1.08 million this year, and decline another 1.3% to 1.07 million in 2009. The median new-home price is expected to fall 4.3% 2008, and then increase 5.0% in 2009.
The 30-year fixed-rate mortgage is forecast to rise slowly to the 5.9% range in the fourth quarter, and then average 6.3% in 2009. "Affordability conditions are anticipated to rise 14.2% this year, permitting more people to become homeowners, but buyers should avoid aggressive lenders and not over-stretch to enter the market," Yun said. NAR's housing affordability index is expected to rise from 113 in 2007 to 129 in 2008.

Happy Valentines Day!

2008-02-14T12:00:00.000-06:00

Happy Valentines Day!

Home prices fell in a record number 77 U.S. metro areas in the fourth quarter according to the NAR. On a better note, President Bush signed the stimulus package which will send checks to American consumers starting in May...your check may vary in size. One thing that will interest your Jumbo Loan customers, currently at a $417,000 limit loan size, is a provision that will raise the Jumbo Loan limit to $729,750. I am waiting on more information on this and will pass it on to you. This is great news for larger home buyers as the Jumbo Rates have been really high for months now.

Although the Fed cut short term interest rates 1.25% in the last few weeks, the lending institutions are still tightening the lending practices. Many programs available 6-9 months ago no longer exist and having a Lending Partner able to help you help your buyers and sellers is becoming more and more important. Call me and let's talk about how I can help you be more successful.

Thanks and enjoy the warmth...a winter storm cometh...(and it is bringing some wet stuff for the weekend!)

Enjoy the day!

Courtesy of:
Kevin Foreman
Globe Capital Home Loans
405-478-8484 direct
kevinforeman@cox.net

Oklahoma February Listing of the Month

2008-02-13T11:15:00.003-06:00

$265,000.00

3035 NW 16th Street

Newcastle, Oklahoma 73065

Virtual Tour: www.HomesofNewcastle.com

This Yankee Barn style home was custom built in 1998 and sits on 5 acres. The unique property features stunning country views from every vantage point. The entry has a wonderful stream, walk over bridge and koi pond that greets you as you enter the front door. One of the most impressive aspects of this property is its spacious great room with soaring post and beam construction 30 foot ceiling, 7 inch wide oak flooring, massive stone fireplace and beautiful staircase that leads to the study, library and second master suite. The hallway has narrow barn windows with shutters that replicate milking stalls where a lantern hangs over each window. The kitchen is large and open with breakfast bar, walk-in pantry, and dining room with brick paver flooring. The first floor master suite has it's own living area, master bathroom with antique claw foot tub and walk-in closet. Some of the other impressive features of this property include: full surround sound and audio system, security alarm, satellite hook-up in every room, dog run, 220 wiring in garage, working library ladder, zoned heating & air, fenced acreage for horses, wild blackberry bushes, redbud & maple trees, etc. This home gives you the real country setting with just a 20 minute drive to Downtown Oklahoma City. Call Wyatt Poindexter at 405-417-5466 for your private tour!

This home is listed by:

Wyatt Poindexter

Keller Williams Realty

405-417-5466

wyatt@wyattpoindexter.com

www.WyattPoindexter.com

Buyers Are Still Buying Homes!

2008-01-28T09:03:00.001-06:00

To hear the national media tell it, homebuyers are fools to buy right now. Home prices have dropped 5 percent since October 2006. Our economic problems aren't over, so home prices are bound to drop further. Why would anyone catch that falling knife? But there are some markets out there that are making monkeys out of housing bears.

According to the National Association of Realtors, home prices are higher in 93 out of 150 metro areas.
Which markets are sizzling? Charlotte, North Carolina, San Francisco; Albuquerque; and Green Bay, Wis., among others.
But don't take NAR's word for it.
Forbes Magazine has noticed the red glow from those cities and others. The magazine just named 10 cities where home prices are going through the roof, including
Forbes: 2007 Best U.S. Housing Markets:
Salt Lake City, 246,700, up 14.1%
Charlotte, S.C., $220,000, up 11%
San Jose, Ca., $852,500, up 9.4%
San Francisco, Ca., $825,400, up 8.6%
Raleigh, N.C., $229,500, up 7.5%
Austin, Tx $188,200, up 7.2%
Pittsburgh, Pa., $127,700, up 6.1%
Seattle, Wa., $394,700, up 6%
San Antonio, Tx, $154,700, up 5.7%
Portland, Or., $299,700, up 5.2%

House Hunting Tips for Buyers

2008-01-22T11:05:00.000-06:00

Get to know the inventory of homes available in your target area. Some of these listings will never work for you, either because they aren't large enough or because they have defects you might not be able to live with, like a lot of stairs to the front door. You can drop these listings from your radar.
Find an agent who specializes locally and who will keep you well informed on local market conditions. Ask your agent to sign you up for a listing alert program that will send you information directly from the multiple listing service when new listings come on the market or when the status of a listing changes.
Of particular interest are listings that are back on the market, and ones that have had a price reduction. If a house that's back on the market is one you were interested in, find out why the deal fell apart. In the past, it was commonly assumed that if a transaction failed it was due to inspection-related issues, not financing. Today, we're seeing more transactions fall apart because the buyers were unable to secure financing. A seller who just lost a deal because the buyer couldn't perform could be receptive to a reasonable offer from a better-qualified buyer.
Don't assume there's something wrong with the house if it's back on the market, or if it has been unsold and on the market for a long time. In a changing market, it's often difficult to select a list price that will bring about a speedy sale. Keep an open mind about listings that have had price reductions. These could have been mispriced to begin with. If the sellers are motivated, they will reduce the price until it is in line with the market.
Some unsold listings haven't moved because they need too much work. In today's market, the most salable listings are those that are in move-in condition. Properties that need work should be priced to account for the work that will need to be done.

2008 Presents Opportunities for Homebuyers

2008-01-22T10:59:00.001-06:00

The New Year started with promise for homebuyers as falling rates combined with lower prices to boost housing affordability. The average rate for 30-year fixed-rate mortgages (FRMs) in the Southwest, which includes Texas and Oklahoma, fell to 6.06 percent in early January from a December average of 6.10 percent. At the same time last year, the 30-year FRM averaged 6.18 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) slipped to an average 5.76 percent from a December average of 5.81 percent. A year ago, the 5-year hybrid ARM averaged 6.02 percent. One-year Treasury-indexed ARMs averaged 5.44 percent in early January, down from a December average of 5.50 percent, and almost even with the average 5.42 percent one year ago.
"The latest home sales data came with a few light notes," said Freddie Mac Chief Economist John Nothaft. "While new home sales fell in November to the slowest pace since April 1995, existing home sales rose," Nothaft said. Rising existing home sales may be a sign that the market is stabilizing, according to National Association of Realtor's Chief Economist Lawrence Yun. "Mortgage interest rates are near historic lows and the most current data shows decelerating price declines, along with a modest reduction in the number of homes on the market," Yun said. In other words, 2008 is starting with good opportunities for buyers to get into homes.

Wyatt Poindexter
Keller Williams Realty
http://www.wyattpoindexter.com/

Oklahoma City January Listing Of The Month

2008-01-22T10:41:00.000-06:00

12801 Plum Hollow Drive in Val Verde

$829,900

Enter this 2007 remodeled home and experience a new standard of luxury living. This Gil Wright home has every amenity imaginable for the home owner who wants the very best. Precisely an entertainer’s dream, this home is set to please the largest of parties. The use of stone and brick combine to create a home of unparalleled beauty. Situated on approximately 1.5 acres of prime real estate, the new owner will find 5 bedrooms, 4.5 Baths, 5 living areas, a gourmet kitchen, 4 fireplaces, custom pool, flagstone patio/deck and spa with fountain, a grand foyer, holiday closet, photography room, and a oversized three car garage that is sure to please all in a home that has approximately 5,300 square feet. Whether your looking for a grand home to entertain or the ease of comfortable and quiet family living this home truly offers it all. View this home's professional photos and virtual tours at: http://www.WyattPoindexter.com/

Wyatt Poindexter
Keller Williams Realty
5629 N. Classen Drive
Oklahoma City, OK 7311
405-948-7500
405-417-5466
wyatt@wyattpoindexter.com

January 22, 2008 Market Update

2008-01-22T10:38:00.000-06:00

Mortgage and Treasury bond prices are rallying this morning in response the The Fed's surprise move to lower the Fed Funds rate by 3/4 of a point. This is the largest single rate cut since 1984. With the next Fed meeting just over a week away on January 30, today's action was a very unusual move, indicating the severity of the conditions in financial markets. In addition to today's cut, investors are also expecting another half point cut in the Fed Funds rate at next week's meeting. The Dow was down as much as 464 points earlier this morning, before bouncing back and recovering more than half of the losses. No economic data will be released today.

Wyatt Poindexter
www.WyattPoindexter.com
Keller Williams Realty Oklahoma
(405) 417-5466

Oklahoma’s Housing Market Going Strong

2007-11-28T11:52:00.000-06:00

The value of your home may be going up. Home values are predicted to drop nationwide with places like Las Vegas, Miami and Los Angeles taking the biggest hits. But that's not the case in Tulsa. News On 6 anchor Craig Day reports that Tulsa is near the top of the list for homeowners expected to make the most money off their investment in the coming year.
The National Association of Realtors predicts the price of existing U.S. homes will fall slightly this year. But according to Fiserv Lending Solution's predictions, it won't happen in Tulsa. That comes as no surprise to realtor Darryl Baskin.
"While the rest of the country is seeing a slump, we're often trudging right along and seeing increases," he said.
Baskin is an area realtor and hosts radio and television real estate programs. He says most years homes in Tulsa appreciate 3-5%. That's right in line with a new analysis that predicts Tulsa home values will go up 4.3% from this April to next April, the second best market in the nation.
Many of those housing markets expected to see drops over the next 12 months have seen dramatic increases over the past few years. In fact, in many of those markets the home values have doubled over five years. But in those markets the bubble has seemed to have burst. Tulsa on the other hand has seen a steady, gradual increase in home values.
“The drawback is we don't have people here who are making hundreds of thousands of dollars on real estate, but that's more of a lottery mentality. Here you have people who buy homes, we rarely see it go backwards, and we don't have to deal with the upheaval that the bubble would create," Baskin said.
Baskin predicts the Tulsa area will have a slight increase in demand and slight decrease in supply over the next year, which translates into a stable market.
"As long as it doesn't go too far one way or the other there's a good deal for buyers and sellers, and that's where people win," he said.
Oklahoma City homeowners are expected to see their homes appreciate in value over the next year by 3.1%. The biggest gainer is McAllen, Texas at 9.8%. The biggest loser is Las Vegas at -8.9%.

Courtesy of KOTV

www.WyattPoindexter.com
Keller Williams Realty

Top 10 Most Stable Housing Markets in America

2007-11-28T11:45:00.000-06:00

The Top 10 Most Stable Housing Markets in America:

A few years ago growth was all people were talking about. Now the buzz word in real estate is stability. Having property values increase slightly and hopefully beat inflation is making the consumer very happy since many markets are expecting double digit declines in value.
So what are the most stable markets in the country? Forbes ran the numbers and here are cities they have come up with.

1. Seattle, WA – 3.09% est. price increase from 2007–2008
2. Pittsburgh, PA – 3.37%
3. Columbus, OH – 3.49%
4. Dallas, TX – 5.45%
5. St. Louis, MO – 3.01%
6. Cincinnati, OH – 2.65%
7. Atlanta, Ga – 4.4%
8. San Antonio, TX – 5.35%
9. San Francisco, CA – 2.5%
10. Fort Worth, TX – 3.09%

Oklahoma has been very comparable to the Dallas, TX market!!!

Real Estate Continues to be THE Best Long-Term Investment

2007-11-14T17:49:00.000-06:00

Perceptions about real estate have been skewed in recent months due to the overwhelming focus on national figures. While average sales and prices help us identify trends, the fact is all real estate is local -- conditions vary greatly from one city to the next. Unfortunately, that news is largely unreported.

Builders and Realtors cannot allow the national media to report what it deems to be the proper perspective on the value of real estate. They must get out in full force and spread, with repetition, one simple message:

"Real estate is the single best investment one can make."

www.WyattPoindexter.com

A Positive Outlook on Real Estate

2007-11-06T14:29:00.000-06:00

There is one word to describe the current housing market: optimistic. Despite months of hearing about a housing bubble and rising mortgage rates, the outlook for real estate is good. The worries of a bursting real estate bubble actually seem to be low among homeowners. In a national survey conducted by ING Direct, most individuals experienced some growth in their home value in the past 12 months. The average increase was approximately 6%, with owners in New England and Pacific states having the largest growth. The values of homes in south central states remained about the same. Most homeowners do not seem concerned about a downturn in the real estate housing market. Almost 74% of the individuals surveyed, who have owned their homes for more than three years, remained optimistic about the value of their home. The 30-year fixed rate mortgage is at its highest point in four years. However, as it hovers at 6 percent, it is still a relatively low rate compared to the exceedingly high rates of the late 1980s when mortgage rates increased to over 10%. According to Freddie Mac, there are indications of a strong economy, which is why mortgage rates have increased lately. Consumer confidence is on the rise and existing home sales is also on the upswing. This can be attributed to a positive labor market. As most people know, healthy employment leads to greater consumer spending. Consumer perception is everything. With the continued view that real estate is a good investment, people will continue to buy and sell houses. This will bode well for home buyers, home sellers, real estate salespeople, mortgage lenders and just about anyone related to the real estate industry.

November Listing of the Month - Edmond

2007-11-01T16:18:00.000-05:00

This astonishing Jack Arnold Old World design home is situated on more than 2 acres in the exclusive gated community of Eagle's Cove. Spanning more than 4400 square feet, this masterpiece has been crafted with the utmost attention to detail--no expense has been spared. Highlights of this home include extensive built-ins, beautiful wood floors, gourmet kitchen, granite counters, stainless appliances and professional landscaping. Enjoy an exquisite presentation of incomparable design with breathtaking views and functional gathering places that embrace the social and private aspects of everyday life. Experience the essence of the Eagle's Cove lifestyle as the natural elements and a luxurious estate blend into a home that will stir your soul. Priced $80,000 below appraisal. PRICED AT $799,900.00

View this Edmond Virtual Tour at www.3500BrookValley.com

Call or email Wyatt to nominate your home as the "Listing of the Month"

wyatt@wyattpoindexter.com or 405-417-5466

Real Estate in Oklahoma

2007-11-01T16:14:00.000-05:00

In North Oklahoma City, the houses are in lots and buyers can definitely get more for their money. There is a high prevalence of older houses available here. It looks that this area is more neutral for the buyers as well as for sellers. Overall, the market has been absolutely well.

The Oklahoma City Metro area is surrounded by many small suburbs like Yukon, Mustang, Edmond, Bethany, Deer Creek, Tuttle and Moore, are vigorously growing area with a strong heartbeat and active lifestyles. The Oklahoma City Metro is becoming increasingly familiar. Don't miss your chance to live in this great metropolitan area. All these areas are easily commute with the Oklahoma city. This area posses many sleepy little towns which imparts the small hometown feeling. Oklahoma city is the great place to live, work, shop and enjoy.

Oklahoma City Information

2007-11-01T16:10:00.000-05:00

Oklahoma is a state of the south-central United States. Oklahoma was incorporated as the 46th state in 1907. First discovered by the Spanish, it was opened to settlement in 1889. The western part was formed in 1890 as the Oklahoma Territory, which was merged with the adjoining Indian Territory to form the present state boundaries. The Dust Bowl of the 1930s forced many farmers to move west as migrant laborers. Oklahoma City is the capital and the largest city. Population estimated as: 3,540,000.

How should you price your home?

2007-10-25T16:39:00.000-05:00

As a homeowner, you can play an important part in the timely sale of your property. When you take the following steps, you'll sell your home faster, at the best possible price.

In setting the list price for your home, you should be aware of a buyer’s frame of mind. Based on a list of houses for sale in your neighborhood , buyers will determine which houses they want to view. Consider the following:

If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than others in the area. You may have told your REALTOR® to "Bring me any offer." But in that list of houses, yours simply looks too expensive to be considered.
If you price too low, you'll short-change yourself. Your house will sell promptly, yes, but before it has time to find the buyer who would have paid more.

No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood like yours.

Wyatt can furnish data on sale figures for those "comps", and analyze them for a suggested listing price. The decision about how much to ask, though, is always yours. The list of comparable sales we bring to you, along with data about other houses in your neighborhood presently on the market, is used for a "Comparative Market Analysis (CMA)." To help in estimating a possible sale price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices. This CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. In addition, an appraisal is done for a fee while the CMA is provided by us and may include properties currently listed for sale and those currently pending sale.
In the normal home sale, a CMA is probably enough to let you set a proper price. A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price, and any other circumstance that makes it difficult to put a value on your home.
To find out what your Oklahoma home is worth in today's market go to: http://www.wyattpoindexter.com/ and fill out the seller information.

http://www.wyattpoindexter.com/

Are you thinking about selling your home?

2007-10-23T21:40:00.000-05:00

Do not do anything expensive, such as remodeling. If possible, use savings to pay for any repairs and improvements – do not go charging up credit cards or obtaining new loans. Remember that part of selling a house is also preparing to buy your next home. You do not want to do anything that will affect your credit scores or hurt your ability to qualify for your next mortgage.

When looking at a house, prospective home buyers often do not really know what to do. So they play with things. They flick light switches. They open everything with a handle. They turn on all the faucets and flush all the toilets. Having nice shiny fixtures makes an impression.
All your sink fixtures should look shiny and new. If this cannot be accomplished by cleaning, buy new ones. If you don’t buy something fancy, this can be accomplished inexpensively. Make sure all the hot and cold water knobs are easy to turn and that the faucets do not leak. If they do, replace the washers.

It sounds like hard work, but it's pretty easy -- even for the inexperienced.

Check to make sure you have good water pressure and that there are no stains on any of the porcelain. If you have a difficult stain to remove, one trick is to hire a cleaning crew to go through and clean your home on a one-time basis. They seem to be wonderful at making stains go away.

Oklahoma Real Estate Marked by Lower Home Prices

2007-10-15T10:23:00.000-05:00

The Real Estate market in Oklahoma City hasn't witnessed the scary price appreciation that has swept coastal areas of the country in recent years, even as soaring energy prices have helped boost job levels in the region. The energy market plays a role in job creation in the area because Oklahoma is one of the largest natural gas-producing states in the country. Median home prices in the metropolitan area, which gained world-wide attention when the Alfred P. Murrah Federal Building was bombed in 1995, rose 14% between 2002 and 2005, compared with a 22% gain nationally. Fourth-quarter median home prices in Oklahoma City reached $121,700, well below the $213,000 national level. Some economists say markets that offer relatively low-priced housing with economies tied to the energy sector, like Oklahoma City, which is home to such Fortune 500 companies as Devon Energy Corp. and Kerr-McGee Corp., could still get a kick if fuel prices remain high.

For more Real Estate resources: www.WyattPoindexter.com

Most Expensive Zip Codes in the U.S. for 2007

2007-09-20T11:03:00.000-05:00

In case you missed it last week, Forbes published their list of the 500 most expensive zip codes in the U.S. for 2007.
07620 (Alpine, New Jersey) and 33109 (Fisher Island, Miami Beach, Florida) tied for the top spot, with a median price of $3.4 Million.
The rankings are based on median sale prices from June 2006 to July 2007 and are dominated by zips in California, Florida, and the NYC metro area. If the rankings surprise you, it is worth noting that, as with all such studies, the methodology determines the results. As the author notes:
Though often shorthand for neighborhoods, ZIP CODES don't change to reflect shifting neighborhood or demographic boundaries. The result? Our list is a bit slanted toward low-density enclaves like Alpine, where there are 333 people per square mile, as opposed to parts of Manhattan, where there are 45,800 people per square mile and a larger variance of home prices.

Keller Williams Launches Luxury Home Division

2007-09-20T10:57:00.000-05:00

Keller Williams Realty announced today that it will be launching a new division of the company dedicated to serving the high-end home market. The new venture, introduced at the company’s recent annual Mega Camp event, is the product of more than a year of researching and Masterminding by a group of Keller Williams leadership and associates. “We know that when we listen to what our agents need, we develop the right product for them,” says Mary Tennant, president and COO of Keller Williams Realty Inc. “This program was built by our agents, for our agents. As an agent-centric company, we wouldn’t do it any other way.” Luxury Homes by Keller Williams is a members-only program that gives eligible associates a designation as experts in serving luxury home buyers and sellers. The training component of the program will be provided by industry heavyweight, The Institute for Luxury Home Marketing (http://www.kwluxuryhomes.com), as part of a new partnership between the Institute and Keller Williams Realty. Institute founder Laurie Moore-Moore says, “The luxury home market is out-performing the real estate market nationally, so the timing of the Keller Williams Luxury Homes program is absolutely perfect.” The new program is spearheaded by Dee Shultz, a long time leader in the luxury homes market in Austin, Texas, and she says the new program will allow more KW associates to capitalize on the luxury homes market across North America. “When you look at the luxury homes market – it’s been more stable than the real estate market as a whole, so we want to arm our agents to capitalize on that opportunity,” says Shultz. “We know that this program will provide both a strong support system for our agents currently servicing affluent clients, and a firm foundation for growth to our associates who are looking to key into the market,” she adds.
When the program makes its official debut October 1, KW Luxury Home Consultants will be able to take advantage of new branding and marketing materials, an International Web presence (www.kwluxuryhomes.com) and agent-to-agent referral opportunities, as well as discounted pricing for advertising in targeted print publications including the Robb Report, DuPont Registry, Unique Homes, The Wall Street Journal, L.A. Times and The New York Times.

www.WyattPoindexter.com

Housing market defying predictions of doom

2007-09-12T14:34:00.000-05:00

Existing-home sales defied frenzied predictions of disaster by remaining steady throughout the nation in July, according to a report released by the National Association of Realtors in late August.
"The market is holding on despite temporary mortgage disruptions," said NAR Senior Economist Lawrence Yun. "Home sales probably would be rising in the absence of the mortgage liquidity issues of the past two months," he said. "Some buyers with contracts have been scrambling when loan commitments did not materialize at the last moment, while other potential buyers are simply waiting for the mortgage market to stabilize. The rise in sales and prices in the Northeast region in recent months is promising because this was the first region that underwent sales and price weakness after the boom. Now, it appears that it will be the first region to climb back, indicating that other regions could follow a similar path," Yun said.

Housing Market in Oklahoma City

2007-09-04T22:18:00.000-05:00

Rises in mortgage and interest rates in the past couple of years have caused the recent slow down in the housing market. Nevertheless, the metro area is outperforming many largers cities where homes are losing value, and Oklahoma City's market is at the very least consistent in its affordability compared to other markets. Most experts contend that the home builders are not getting ahead of the somewhat reduced demand, a situation that would cause excess inventory.The fact that Oklahoma City is expanding due to the growth in downtown and the gains in various business sectors figures to help the market, and rates are still at relative lows, despite their recent increases.That leads many economic experts to believe that Oklahoma City's housing market is fairly healthy.

www.WyattPoindexter.com

The two most important factors when selling your home

2007-08-30T18:20:00.000-05:00

Sales price and condition are the two most important factors in selling a home, even in a down market. The first step is to price your home correctly. Use comparative sales information from your Realtor to objectively evaluate your home's worth. Second, go through the house and repair any obvious cosmetic defects that could deter a buyer. In a down market, you may have to consider lowering your sales price and/or making a major repair, such as replacing the roof, in order to lure a buyer. Also, make sure that your home is getting the exposure it deserves through the internet, advertising, good signage and a listing on the local multiple listing service or online listings provider. If this isn't happening, take it up with your Realtor. If you are still not satisfied you are getting the service you need, you may have to switch Realtor.

www.WyattPoindexter.com

Our Company...Keller Williams Realty

2007-08-29T11:20:00.000-05:00

Founded in 1983, Keller Williams Realty Inc. is an international real estate company with more than 600 offices located across the United States and Canada. The company began franchising in 1991, and following years of phenomenal growth and success, became the fourth-largest U.S. residential real estate firm in North America in 2006. The company has succeeded by treating its associates as partners and shares its knowledge, policy control and company profits on a system-wide basis.
Structured for Success
The interdependent business model of Keller Williams Realty supports agents and brokers working as a team to maximize personal productivity and company profits.
Most real estate companies operate on a dependent model where the broker provides leads to salespeople and then offers them a commission, or they operate on an independent model where agents receive minimal support from the broker but keep more of the commission. In contrast to these traditional models, the Keller Williams model fosters a synergistic environment where both parties succeed through teamwork, by encouraging agents and brokers to share their best practices with each other and reward associates who help the company to grow. It is these industry-changing philosophies that have fueled the recent growth of Keller Williams Realty past older, more established companies to claim a top-four spot in the real estate industry.

Courtesy of: www.KW.com and www.WyattPoindexter.com

The Keller Williams Difference

2007-08-29T11:17:00.000-05:00

At Keller Williams Realty, we like to think we stand out from other real estate firms in many ways, but these areas in particular define Keller Williams Realty as an industry innovator and leader: Culture, Education, Profit Share, and Technology.

We are a company built and shaped by talented, driven real estate professionals who know the value of having a great career, accomplished colleagues, work-life balance, and a reputation for being the best in the business.

We focus on helping associates realize their fullest potential. You will find opportunities for growth, support for achieving your objectives and a true sense of family and belonging.

Your success is our goal.... Make today the day you begin the next fulfilling chapter in your life and career.

Courtesy of : www.KW.com and www.WyattPoindexter.com

The Keller Williams Philosophy

2007-08-28T12:29:00.000-05:00

Our Mission:
To build careers worth having, businesses worth owning and lives worth living.

Our Vision:
To be the real estate company of choice for a new generation of sales associates and real estate owners.

Our Values:
God, Family, then Business

Cost of Doing Business in Oklahoma

2007-08-20T08:42:00.000-05:00

Oklahoma's cost of doing business is among the lowest in the nation, as reported in the annual Milken Institute Cost of Doing Business Index, released this week. Oklahoma was ranked No. 40, with a cost of doing business 85.4 percent of the national average.
Hawaii holds the distinction of having the highest cost of doing business at 51.5 percent above the U.S. average. New York and Alaska also were ranked high.
The ranking is example of Oklahoma's competitive advantage in attracting businesses to the state. Oklahoma is 8 percent below Colorado, 9 percent below Louisiana, and 12 percent below New Mexico.
Oklahoma performed best in industrial rental rates at 68.9 percent of the national average. Other factors below the U.S. norm were wage costs, 80.7 percent; office rental prices, 81.6 percent; and electricity costs, 89.2 percent.
Source: Oklahoma Department of Commerce

Dropping Your Sales Price

2007-08-15T16:10:00.000-05:00

If you start out selling your home with a high sales price, then drop it later -- your house is "old news." You will notbe able to recapture that exciting activity you would have had with a realistic price. Your house could take longer to sell.
Even if you do successfully sell at an above market price to an uninformed buyer, your buyer will need a mortgage loan. The mortgage lender requires an appraisal. If comparable sales for the last six months and current market conditions do not support your sales price, the house won’t appraise. Your deal falls apart. Of course, you can always attempt to renegotiate the price, but only if the buyer is willing to listen.
Your house could go "back on the market."
Once your home has fallen out of escrow or sits on the market awhile, it is harder to get a good offer. Potential buyers will think you might be getting desperate, so they will make lower offers. By overpricing your home in the beginning, you could actually end up settling for a lower price than you would have normally received.