Oklahoma City is doing well! We’ve heard it again and again…”Oklahoma City is Recession Proof”. Well the proof is in the numbers, while we have had lower numbers in 2009 compared to 2008 it’s to be expected. This year so far in numbers has proven to be nonetheless consistent where Real Estate is concerned. I’ve been getting a lot of questions from naysayers on what will happen when the tax credit goes away. I think most of us agree we hope it is extended because it has been an excellent program and has helped many people purchase a home when they wouldn’t have done so under normal circumstances. The National Association of Realtors (NAR) is working very diligently with their lobbying efforts to not only extend the tax credit but to even possibly open the credit up to anyone who purchases a home.
The National Association of Realtors® is calling upon its 1.2 million members to urge Congress to extend the successful homebuyer tax credit into next year.
Since its inception earlier this year, the $8,000 first-time homebuyer tax credit has brought 1.2 million new buyers into the market—350,000 of whom would not have purchased a home without the credit, according to NAR. The credit is due to expire November 30.
“Now is the time for Congress to keep this recovery going by extending the tax credit through 2010 and making it available to more homebuyers. We have all seen how the credit has been a spur to bring homebuyers into the market, and have seen the beginnings of a real recovery in the housing market. Housing has always led this nation out of economic downturns, and can do so again,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth.
Realtors®, the leading advocates for homeownership and housing issues, will be writing to their Senators and Representatives to tell them of the successes with the tax credit thus far and to press them to extend and expand it now.
McMillan added that the market has improved, but it has not yet fully corrected itself. “The credit needs to be available for an additional period of time in order to sustain the progress that’s been made so we can continue to see our markets fully recover. Uncertainty about the future of the credit will dampen consumer demand. The only way we can assure that the progress we've made can continue is to extend the credit and to do that now,” he said.
As the current deadline for the credit looms, potential homebuyers need to complete a contract, satisfy any contingencies, secure financing and go to closing by November 30. In today’s market, NAR estimates that it generally is taking between 45 and 60 days from contract to closing. My personal averages are 30-45 days from contract to closing.
“That means potential homebuyers who qualify must act now, and so must Congress,” McMillan said.
Only 64 Days until the $8,000 Tax Credit ends, one of the highest incentives to purchase a home our country has ever seen…
Voters will head to the polls on April 7 to cast their ballot in the Mustang Public Schools bond election. By using a combination of general obligation and lease revenue bonds, the district will be able to have one bond election that will take care of the needs of the district for the next three to five years. The $58 million bond will be sold in a series stretching over several years, keeping tax levels steady with no increase.
HERE IS YOUR PART!
Most of us who live in the Mustang School district are typically left out of Mustang's voting Matter's because we do not live in the "Voting Square".
This time your vote matters! We can't leave this up to the "Voting Square". This bond issue will only get passed if those of us NORTH of 59th Street go out and vote. Tell your neighbors, tell your friends, tell EVERYONE....April 7th is important for the Mustang School District and the future children of the Mustang School District.
Mustang High School
Approximately $38 million of the bond funds will transform the aging Mustang High School campus, where the average age of the classroom buildings is more than 40 years old, to a facility that meets the standards of a 6A school. New construction, which includes new academic buildings, a media center, cafeteria and commons area, will greatly increase the school's capacity. The new construction will also tie the separate academic buildings together, dramatically increasing the ability to secure the campus.
Bonnie Lightfoot, superintendent, said improvements at MHS have taken a back seat for several years while the district worked to keep up with the student population growth at the elementary level.
"For several years, the Mustang Public School District has been forced to address immediate needs at the elementary level before we looked at the work that needed to be done at Mustang High School," Lightfoot said. "What is necessary at the high school required more funds than we were capable of through general obligation bonds. A combination of lease revenue and general obligation bonds is allowing us to take care of the needs at Mustang High School in a timely manner instead of accomplishing it piecemeal over many years."
The proposed plans call for a two-story academic building to be constructed in front of the Central Building. The more than 79,000 square foot facility would house 28 classrooms and administration offices. It would give MHS a new and visible main entrance. A new and enlarged media center and cafeteria would open onto a new commons area in front of the MHS auditorium. For the first time, Mustang High School would have a visible, secure main entrance, and the classrooms would be under one roof.
A new ninth grade center is also planned. The South Building on the MHS campus would be razed to make room for the new multi-story classroom facility. The ninth grade center would include more than 35 classrooms and move the freshmen back to the high school campus. Administrators made the decision to relocate the freshman after a quality time analysis showed how much instructional time is lost transporting students hourly to the high school campus for classes not available at Mustang Mid-High...continued here
Mustang North Middle School and Mustang Creek Elementary
The bond also includes funds for classroom additions at Mustang Creek Elementary and Mustang North Middle School. Mustang Creek Elementary is nearing capacity and has no extra classrooms. Should the bond issue pass, the additional classrooms at Mustang Creek Elementary will bring the district one step closer to being able to offer all-day kindergarten.
Bonnie Lightfoot, superintendent, said the district put a task force in place three years ago to coordinate the creation of an all-day kindergarten program.
"One of the main hurdles we have faced is finding the space to offer the program. Thanks to the voters, we were able to open Mustang Centennial Elementary in 2007. That made a dramatic difference in the classroom space at the elementary level. Mustang Creek is the only school where classroom space for the program is not available. We will only offer the program when we can offer it at every school and give each child the same opportunity."
The bond would also make it possible to enlarge the cafeteria at Mustang North Middle School. With more than 900 students in the building, six lunch periods are necessary to serve the students.
For more Questions & Answers concerning the Bond Issue visit http://www.mustangps.org/Q&A.html
If you're not registered to vote or need to change your address, you have until this Friday, March 13th to post mark your voter registration form.
Forms can be downloaded at http://www.ok.gov/~elections/voterreg.html or forms are available at every school and at your local tag agency.
YOUR VOTE MATTERS!! PASS IT ON!
Don't miss the Hager House Ladies Event this Saturday from 10am - 5pm! If you love purses, candles, scrapbooking, spa products and other fun things that Ladies love then you'll definitely want to visit this One Day Event tradeshow. There will even be a masseuse there to help you ease into this beautiful weekend.
Drawings for Door Prizes and Booth Prizes will also be held including a free scrapbooking weekend at the Hager House Bed & Breakfast! So get your ladies together and join in on this wonderful event!
This event is a come and go so feel free to stop by to tour the Bed and Breakfast while seeing all the great displays, products and services.
Hager House Bed and Breakfast 619 Hoff Avenue, El Reno
Visit http://www.hagerhousebandb.com/ for a printable online map or for more info on the Bed & Breakfast!
Here it is…the Tax Credit for 1st Time Buyers. It is now official! If you or someone you know are considering your first home purchase it is now time to get off of the fence! Interest rates are lower than they have been in years and this tax credit is not a deduction it is a dollar for dollar savings in the total income tax paid!
Spread the word! It’s called a buyers market for a reason! Real Estate is a continuous cycle. Market shifts occur and those who are looking for a good investment will take advantage of these shifts.
When it comes to Rent vs. Buy the Buyers become the Winners especially with these tax benefits!
Not only is it Friday the 13th…I love Friday the 13th! (My husband kissed me for the first time on a Friday the 13th many moons ago…) It’s also Valentine’s Weekend! For some people this is just another day, for others it’s “The Dreaded Day” but for many it’s another day to do something sweet with your sweetie or loved ones. So, here are a few sweet ideas to get your weekend going….
The Oklahoma City Ballet will be performing "Paris Rouge" along with the classic white ballet "Les Sylphides".
"Paris Rouge" is a visually stunning, colorful production recreating the famed Paris hot spot and capturing the exuberance of the saucy world of the can-can. Performances will be on February 13th and 14th at the Civic Center.
Get Tickets Contact: Cathy @ 405-843-9898 or Email: balleto@sbcglobal.net
A cultural celebration of the spirit of the American Indian. Fine art market, exhibition, dancing, entertainment, storytelling, Indian food, demonstrations and more.
If you love live music, the Blues / R&B then you’ll want to check out the Blue Cats at Riverwind Casino - River Lounge 1544 Highway 9, Norman, OK 73072 Visit Website Phone Number: 405-322-6464 Live Music on Valentines - February 13th & 14th.
Of course you could always do a little gambling too…. since you’re there.
**The Del City Library is hosting a Chocolate Festival, this is something that might be fun for the whole family! This will take place this Saturday from 2pm-3pm and is absolutely free!***
Lyric Theatre presents “The Who’s Tommy” Plaza Theatre 1727 NW 16th St., Oklahoma City, OK 73106 Visit Website Phone Number: 524-9310
Don't Forget! There are tons of great ideas also at www.wimgo.com This is a great website hosted by the Daily Oklahoman that is strictly devoted to listing things to do in OKC.
Also, if you're looking for a new restaurant and would like to see an honest review then you have to check out my favorite Restaurant Blog at www.eataroundokc.com
And for the rest of us who aren't feeling adventurous, don't like crowds and refuse to eat the 4pm early bird special with the Blanch Devero's of the world there's always a new bottle of wine and Redbox Movie Rentals.
HAPPY FRIDAY THE 13TH & VALENTINES DAY!
Successful Real Estate with Jennifer Arsenault in Oklahoma City & surrounding metro. First time buyer's, investors, home sellers. Property management background, visit www.jenniferarsenault.com
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