Oklahoma

In Oklahoma City we don't have the number of foreclosure and short sale properties as other areas according to companies like RealtyTrac, but I am here to dispute their numbers. There are lots more shorts that are hiding behind Realtors that don't get the big picture about having the expertise to know the difference. Let me give you examples. My team has people who specialize in short sales, and many of them come to us the old fashion way like making cold calls and mail outs. One place I look for them is on our MLS system by checking the expired listings daily. Let me give you a few examples of what i found today, and this is by no means all of them.

Home listed ar $299,99 for 279 days with a mortgage balance of $400,000.

Home listed at $334,500 for 184 days with a mortgage balance of $330,000.

Home listed at $169,600 for 178 days with a mortgage balance of $181,400.

Home listed at $135,000 for 92 days with a mortgage balance of $144,000.

What do these four expired listing properties have in common? None were listed as a short sale, nor did the realtor give you any comfort with, seller knows they will be bringing money to closing. In Oklahoma City we have a program called Realist that is a 1st American product that is an add on feature to our MarketLynx MLS. It allows us most of the time to see data compiled from county reconrds, but also other sources. We also have a program called Redlink that gives us county clerk data like mortgages that we can check against Realist for accuracy. it also gives appraisal square footage as a bonus. From this we can add information from digital record keeping from our court systems as well as the county sheriff for sales according to the judicial process.

This could easily be a rant against Realtors who take listings and probably don't do a net sheet for the seller, nor do they have a clue about short sales, and that would be a justified rant because many of these will go into foreclosure without the knowledge of the homeowner that they have alternatives including loan modifications even though that is less likely than the short sale.

My word of warning is to Realtors representing buyers. Now more than ever you need to do your homework and investigation. I have contacted the officer of three local title companies, and they are telling me that I am correct in knowing there is a problem, because contracts turned into them are not closing because the seller does not have the funds to make up for a deficiency. If you represent a buyer who has spent money on inspections and appraisal and maybe even took a contract on their existing home to buy another, they are going to by justifiably angry at you. We cannot stop Realtors from taking listings that have no chance at closing, but we can protect our buyers. If your MLS system does not have mortgage data, demand it. Bookmark the court system sites to check filings. See if you can get access to to other data entry companies for real estate. I can tell you that i see this every day and I didn't list above 76 more expired listings just like the ones above. I am expecting a banner year for foreclosures in 2010 for Oklahoma City, and Realtors are a part of the problem. Please don't let your buyers suffer because of them.

No FHA or VA financing? Recently I’ve seen several property listings state in the Broker’s remarks (area that the public can’t see) that the Sellers will not accept offers with FHA or VA financing. Do these Sellers realize that they’re possibly ruling out 95% of the market by not accepting that type of financing?

I’m shopping in a range for first-time home buyers who will typically have FHA or VA financing. I’ve explained to my Buyers that if they choose an “as-is” property, they will be responsible for whatever repairs may be required by the type of financing they choose. They understand that and we’ve steered clear of properties that will require more repairs than they can afford.

Years ago, there were more financial costs for the Seller when accepting FHA or VA financing, but those costs are truly insignificant now. Repair costs can be negotiated and the prospective appraisers are not as stringent as they once were.

Remember that FHA and VA appraisers are looking for safety and health issues. They don’t care if your dishwasher doesn’t work or your air conditioner is old – they care if the hot water heater needs to be raised or if there is chipped and peeling paint.

Come on Sellers – don’t turn away such a large portion of your potential market!

Lori is a residential Realtor with Chinowth & Cohen Realtors serving the greater Tulsa area, including midtown Tulsa, downtown, Owasso, Sand Springs, Broken Arrow, Bixby and Jenks. Visit Lori's web site, LoriCain.com or call 918-852-5036 today!

Has your family gotten smaller but your house hasn't? Is the size of your home getting to be a burden or the big lawn too much to take care of you're thinking you might like something smaller and/or easier to care for? Do you just need to downsize?

I can help you sell your home and find one that's just your size. Call me, Judi Barrett at Integrity Real Estate Services. We know Choctaw County Oklahoma and McCurtain County Oklahoma. We can help you know what your home can be expected to sell for and what a smaller home should cost.

I work in Idabel, Oklahoma

Hugo, Oklahoma

Garvin, Oklahoma

Millerton, Oklahoma

Swink, Oklaoma,

Fort Towson, Oklahoma

around Lake Raymond Gary.

Let's visit.

Okay folks, this one is just for fun! I found this "personality test" years ago and tried it out on the girls in my youth group. And it was amazingly accurate!

All you have to do is to take a look at the lipstick a woman uses. You'll notice that it has a particular shape. That shape has been analyzed by some super smart person somewhere and can now tell you all about the woman's personality.

Does she abide by the rules?
Is she easy going?
Does she have high morals?
Is she spirited?

Learn all this and more just by looking at a lipstick!

Here's a screen shot of the website where the information is located.

The website address for this fun test is here.

Now we Realtors can know what kind of people we are working with! And you can know what kind of Realtor or banker or waitress or "whomever" you're working with! Well...at least if they're ladies.

All you have to do is to ask if you can look at their lipstick!

Good luck with that one.

What Sold It? Day 2 of 30 - The Feature That Sold It! Sawyer Oklahoma

Do You Have a Home or Other Real Estate for sale in Southeast Oklahoma (Hugo, Idabel, Sawyer, Swink,Valliant, Fort Towson, Lake Raymond Gary)?

Check out our SOLD Page on Integrity Real Estate Services Website.

And there are more listings that I need to add to that page, have just been too busy (selling them! :))

Stay Tuned for 28 more Days of "What Sold It?"


I'm going through my SOLDS (without revealing which property I'm
talking about, to protect the buyers privacy) and tell you what feature
sold the property.

Day 2's Feature That Sold It, is well kept and well planned landscaping and plantings.

An attractive yard, both front and back, including patios and porch areas can have a major influence on the emotional attachment that a buyer develops when they view your home.

The front of the home provides the curb appeal that attracts and draws in a buyer and makes them want to view the home..

If it looks that good on the outside and shows that you as the homeowner take care good care of your yard, encourages buyers to see the inside of the home.

On the other side of the coin though, a poorly kept front yard and entry area says that the home is probably poorly kept also and can discourage buyers from looking in a major way.

Landscaping comes in all sizes of budgets. If you're willing to do the work yourself, you can be repaid handsomely for your sweat equity. It can also be a fun thing to do together as a family and usually children love to plant shrubs and flowers.

Looking at magazines or online can give you ideas and plans. Your county extension agent can provide very good information. Most landscapers will provide estimates and ideas.

Articles to help you with landscaping ideas:

Color, along with form, line, texture and scale, is one of the basic elements of landscape design...read more

HGTV's Landscaping Pages

Better Homes and Garden's landscaping on a budget.

Photos courtesy of Morgue File to protect client's privacy, no client's homes were used.l