Click above to view this beautiful home!
kensellshomes kensellshomes@aol.com 918-260-9932
Thursday, June 18, 2009
Monday, June 15, 2009
Coldwell Banker Select Living
We are very proud of our new "Select Living" Home Buyers Guide. With a bold new look and a rich new feel, it stands apart as the premier magazine for home buyers and sellers in the greater tulsa metropolitan area. Pick one up at your local grocery store or favorite restaurant. Over 30,000 are distributed each month.
If you see a home that interests you be sure to give me a call!
KenSellsHomes
http://www.kensellshomes.mobi/ (CURBSIDE TOURS)
918-260-9932
Ken Rutherford, CRS
Thursday, June 4, 2009
Saturday, May 16, 2009
The 9 Steps to Home Ownership
Step - 1 Make the Decision to Buy
It seems obvious, but it's good to note that the first step to buying a house is making the decision to buy. Consider the reasons you want a new house and write them down. Determine how long you want to live in the new house - does buying still make good financial sense? Can you afford a house that will meet your list of requirements? A good rule of thumb is your mortgage payment should not exceed 1/3 of your net monthly income. FHA loans allow higher loan to value ratios.
Step 2 - Seek Professional Guidance
I'd like to schedule a time to meet with you to hear the reasons you want to buy a house and your plans for the future. I am an expert listener. We'll talk about neighborhoods, schools, economic factors most likely to affect the market today and tomorrow, as well as how you would like your house and neighborhood to grow with you.
At this time, I will also help you get pre-qualified for a mortgage loan. Pre-qualification is a written statement from a loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help us when we are negotiating the deal.
Step 3 - Begin the Hunt
After our initial meeting, I'll search all my resources for houses on the market that fit your criteria. I'll preview these houses to eliminate the duds. Then, I'll schedule appointments to tour the houses at times convenient to you.
As we tour houses, I'll point out positive features and negative features. I'll ask you to tell me what you like and what you don't like. You'll probably amend your "wish list" as we tour houses, some things will become more important and others less important. With this new information, I'll refine our search criteria to narrow in on the house of your dreams.
Step 4 - Know the Market
My knowledge of the Greater Tulsa market is an essential factor in the house search. I'll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration.
As we tour houses, I'll let you know when the asking price has negotiating room and when the house is "priced to sell". My unique market knowledge the Greater Tulsa Area will keep you a step ahead of the "house hunting competition".
In a "seller's market". It is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a "buyer's market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell.
Step 5 - Find Your Dream House
I'm confident we'll find your dream house. When we do, I'll put together the purchase offer tailored for your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.).
The offer is normally presented with "earnest money". This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).
Step 6 - Negotiate the Deal
It is not uncommon to receive a counter offer when the initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept the counter offer, submit our own counter offer, or reject the counter offer and move on.
Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.
Step 7 - Get a Loan
During the closing period, you will be working with your mortgage lender to close the loan. Since you pre-qualified for the loan before starting your home search, you will be that much closer to the end. I'll gather the necessary property information your lender will need to close the loan.
Step 8 - Close the Deal
You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low.
Step 9 - Move In
Congratulations! It's time to move into your new house and make it your home. Enjoy this exciting time. I'll give you a checklist to help you remember the numerous details that will make your moving day a pleasure.
It seems obvious, but it's good to note that the first step to buying a house is making the decision to buy. Consider the reasons you want a new house and write them down. Determine how long you want to live in the new house - does buying still make good financial sense? Can you afford a house that will meet your list of requirements? A good rule of thumb is your mortgage payment should not exceed 1/3 of your net monthly income. FHA loans allow higher loan to value ratios.
Step 2 - Seek Professional Guidance
I'd like to schedule a time to meet with you to hear the reasons you want to buy a house and your plans for the future. I am an expert listener. We'll talk about neighborhoods, schools, economic factors most likely to affect the market today and tomorrow, as well as how you would like your house and neighborhood to grow with you.
At this time, I will also help you get pre-qualified for a mortgage loan. Pre-qualification is a written statement from a loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help us when we are negotiating the deal.
Step 3 - Begin the Hunt
After our initial meeting, I'll search all my resources for houses on the market that fit your criteria. I'll preview these houses to eliminate the duds. Then, I'll schedule appointments to tour the houses at times convenient to you.
As we tour houses, I'll point out positive features and negative features. I'll ask you to tell me what you like and what you don't like. You'll probably amend your "wish list" as we tour houses, some things will become more important and others less important. With this new information, I'll refine our search criteria to narrow in on the house of your dreams.
Step 4 - Know the Market
My knowledge of the Greater Tulsa market is an essential factor in the house search. I'll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration.
As we tour houses, I'll let you know when the asking price has negotiating room and when the house is "priced to sell". My unique market knowledge the Greater Tulsa Area will keep you a step ahead of the "house hunting competition".
In a "seller's market". It is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a "buyer's market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell.
Step 5 - Find Your Dream House
I'm confident we'll find your dream house. When we do, I'll put together the purchase offer tailored for your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.).
The offer is normally presented with "earnest money". This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).
Step 6 - Negotiate the Deal
It is not uncommon to receive a counter offer when the initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept the counter offer, submit our own counter offer, or reject the counter offer and move on.
Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.
Step 7 - Get a Loan
During the closing period, you will be working with your mortgage lender to close the loan. Since you pre-qualified for the loan before starting your home search, you will be that much closer to the end. I'll gather the necessary property information your lender will need to close the loan.
Step 8 - Close the Deal
You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low.
Step 9 - Move In
Congratulations! It's time to move into your new house and make it your home. Enjoy this exciting time. I'll give you a checklist to help you remember the numerous details that will make your moving day a pleasure.
918-260-9932
kensellshomes
Sunday, May 10, 2009
Seven Selling Mistakes You Don't Want to Make!
Seven Selling Mistakes You Don't Want to Make!
Mistake #1 -- Pricing Your Property Too High Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.
Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your Realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.
Mistake #3 -- Forgetting to "Showcase Your Home"In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.
Mistake #4 -- Trying to "Hard Sell" While Showing Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.
Mistake #5 -- Trying to Sell to "Looky-Loos"A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a Realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate.
Your Realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyer's savings, credit rating, and purchasing power in general. If your Realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new Realtor.
Mistake #6 -- Not Knowing Your Rights & Responsibilities. It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract. Can the property be sold "as is"? How will deed restrictions and local zoning laws will affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money.
Mistake #7 -- Limiting the Marketing and Advertising of the Property.Your Realtor should employ a wide variety of marketing techniques. Your Realtor should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your Realtor is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers.
email Ken: KenSellsHomes@aol.com
918-260-9932
kensellshomes
Thursday, May 7, 2009
Tulsa is # 1
Relocate-America's™ Top 10 Best Places to Live in 2009 Glad we live in Tulsa? We're #1
Durham, NC
Raleigh, NC
Huntsville, AL
Houston, TX
Albuquerque, NM
Lexington, KY
Little Rock, AR
Oklahoma City, OK
Relocate-America's™ Top 100 Places to Live in 2009
Enterprise, ALHuntsville, ALVestavia Hills, ALConway, ARHarrison, ARHot Springs Village, ARLittle Rock, ARRogers, AR
Goodyear, AZRiverside, CATemecula, CAVacaville, CACastle Rock, COGrand Junction, COHighlands Ranch, COSteamboat Springs, COTrumbull, CTLakewood Ranch, FLOviedo, FLAugusta, GA
Gainesville, GAPeachtree City, GASavannah, GASuwanee, GAValdosta, GADubuque, IAEmmetsburg, IAWest Des Moines, IABoise, IDIdaho Falls, IDBloomington, ILChicago, ILLombard, ILColumbus, INFishers, INNoblesville, INManhattan, KSOlathe, KSLexington, KYBossier City, LAMandeville, LAMetairie, LAWestford, MAPortland, MEHudsonville, MIPlymouth, MI
Rochester Hills, MIEden Prairie, MNO'Fallon, MOClinton, MSGreat Falls, MTApex, NCDurham, NCFayetteville, NCHolly Springs, NCRaleigh, NCBismarck, NDLincoln, NELebanon, NHAlbuquerque, NMIthaca, NYPittsford, NYColumbus, OHCuyahoga Falls, OHOberlin, OHJenks, OKOklahoma City, OKTulsa, OKPortland, ORHarrisburg, PAPittsburgh, PAGreenville, SC
Spartanburg, SCSioux Falls, SDBartlett, TNChattanooga, TN
Kingsport, TNKnoxville, TNDallas, TXEl Paso, TXFort Worth, TXHouston, TXKaty, TXPflugerville, TXPlano, TXSan Antonio, TXAmerican Fork, UTSt. George, UTArlington, VAChesapeake, VAChesterfield, VAMontpelier, VTSeattle, WASnohomish, WASpokane, WAAppleton, WIMadison, WIStevens Point, WIWheeling, WVCasper, WY
Raleigh, NC
Huntsville, AL
Houston, TX
Albuquerque, NM
Lexington, KY
Little Rock, AR
Oklahoma City, OK
Relocate-America's™ Top 100 Places to Live in 2009
Enterprise, ALHuntsville, ALVestavia Hills, ALConway, ARHarrison, ARHot Springs Village, ARLittle Rock, ARRogers, AR
Goodyear, AZRiverside, CATemecula, CAVacaville, CACastle Rock, COGrand Junction, COHighlands Ranch, COSteamboat Springs, COTrumbull, CTLakewood Ranch, FLOviedo, FLAugusta, GA
Gainesville, GAPeachtree City, GASavannah, GASuwanee, GAValdosta, GADubuque, IAEmmetsburg, IAWest Des Moines, IABoise, IDIdaho Falls, IDBloomington, ILChicago, ILLombard, ILColumbus, INFishers, INNoblesville, INManhattan, KSOlathe, KSLexington, KYBossier City, LAMandeville, LAMetairie, LAWestford, MAPortland, MEHudsonville, MIPlymouth, MI
Rochester Hills, MIEden Prairie, MNO'Fallon, MOClinton, MSGreat Falls, MTApex, NCDurham, NCFayetteville, NCHolly Springs, NCRaleigh, NCBismarck, NDLincoln, NELebanon, NHAlbuquerque, NMIthaca, NYPittsford, NYColumbus, OHCuyahoga Falls, OHOberlin, OHJenks, OKOklahoma City, OKTulsa, OKPortland, ORHarrisburg, PAPittsburgh, PAGreenville, SC
Spartanburg, SCSioux Falls, SDBartlett, TNChattanooga, TN
Kingsport, TNKnoxville, TNDallas, TXEl Paso, TXFort Worth, TXHouston, TXKaty, TXPflugerville, TXPlano, TXSan Antonio, TXAmerican Fork, UTSt. George, UTArlington, VAChesapeake, VAChesterfield, VAMontpelier, VTSeattle, WASnohomish, WASpokane, WAAppleton, WIMadison, WIStevens Point, WIWheeling, WVCasper, WY
918-260-9932
Tuesday, April 21, 2009
Interesting Tax info from my CPA
Ken,
April 15 has come and gone. If you're like most clients, your return feels like an exercise in confusion and red tape. Have you ever wondered just how the system got so complicated? Was it always this hard just playing by the IRS rules?The IRS published the first Form 1040 back in 1913. (Click here to see a copy for yourself.) It weighed in at a whopping 3 pages, plus a fourth for instructions.You didn't have to file a return unless you had a net income of $3,000 or more. That doesn't sound like much today. But it works out to about $65,000 in today's dollars. So someone back in Washington was taking "middle class tax relief" seriously!The tax itself started at a whopping 1% on income up to $20,000. It climbed to 2% on the next $30,000, 3% of the next $25,000, and rose all the way to 7% of income above $500,000. Those of you earning today's equivalent (roughly $10,870,000) would probably love to pay just 7%!Your "net income" included your salary or wages, business income, interest and dividends, rents, partnership proceeds, fiduciary proceeds, plus "income derived from any source whatever, not specified or entered elsewhere" on the form. The IRS very quickly established that everything was taxable, unless specifically excluded.Of course, you could deduct all sorts of expenses, including "necessary expenses actually paid in carrying on business," any interest you paid, any state or local taxes you paid, and even "losses actually sustained during the year incurred in trade or arising from fires, storms, or shipwreck." (That last deduction survives to this day, although the Somali pirates may be the only ones deducting shipwreck losses.)There were no deductions for "personal, living, or family expenses." But you could take a "specific exemption" of $3,000 if you were single or $4,000 if you were married. There was no head-of-household status, no earned income or child tax credit, and no stimulus package to consider. This was long before the Tax Code had become so complicated that Jimmy Carter would call it "a disgrace to the human race."Once you were done, you signed your return, had it notarized, and filed it with the Collector of Internal Revenue for the state where you lived or had your principal place of business. The due date was March 1, and the penalty for failing to file ranged from $20 to $1,000.Oh, and you didn't have to worry about including your Social Security number because Social Security numbers hadn't been invented yet!The tax system has certainly changed since 1913. You can count on it to change more as we move forward -- and you can count on us to help you make the most of every opportunity to save. Be sure to call us with any questions!
William T Zumwalt CPA, PLLC5416 South Yale AveSuite 120Tulsa, OK 74135918-583-1040
http://www.teamzumwalt.com/
April 15 has come and gone. If you're like most clients, your return feels like an exercise in confusion and red tape. Have you ever wondered just how the system got so complicated? Was it always this hard just playing by the IRS rules?The IRS published the first Form 1040 back in 1913. (Click here to see a copy for yourself.) It weighed in at a whopping 3 pages, plus a fourth for instructions.You didn't have to file a return unless you had a net income of $3,000 or more. That doesn't sound like much today. But it works out to about $65,000 in today's dollars. So someone back in Washington was taking "middle class tax relief" seriously!The tax itself started at a whopping 1% on income up to $20,000. It climbed to 2% on the next $30,000, 3% of the next $25,000, and rose all the way to 7% of income above $500,000. Those of you earning today's equivalent (roughly $10,870,000) would probably love to pay just 7%!Your "net income" included your salary or wages, business income, interest and dividends, rents, partnership proceeds, fiduciary proceeds, plus "income derived from any source whatever, not specified or entered elsewhere" on the form. The IRS very quickly established that everything was taxable, unless specifically excluded.Of course, you could deduct all sorts of expenses, including "necessary expenses actually paid in carrying on business," any interest you paid, any state or local taxes you paid, and even "losses actually sustained during the year incurred in trade or arising from fires, storms, or shipwreck." (That last deduction survives to this day, although the Somali pirates may be the only ones deducting shipwreck losses.)There were no deductions for "personal, living, or family expenses." But you could take a "specific exemption" of $3,000 if you were single or $4,000 if you were married. There was no head-of-household status, no earned income or child tax credit, and no stimulus package to consider. This was long before the Tax Code had become so complicated that Jimmy Carter would call it "a disgrace to the human race."Once you were done, you signed your return, had it notarized, and filed it with the Collector of Internal Revenue for the state where you lived or had your principal place of business. The due date was March 1, and the penalty for failing to file ranged from $20 to $1,000.Oh, and you didn't have to worry about including your Social Security number because Social Security numbers hadn't been invented yet!The tax system has certainly changed since 1913. You can count on it to change more as we move forward -- and you can count on us to help you make the most of every opportunity to save. Be sure to call us with any questions!
William T Zumwalt CPA, PLLC5416 South Yale AveSuite 120Tulsa, OK 74135918-583-1040
http://www.teamzumwalt.com/
Ken Rutherford,CRS
kensellshomes
Wednesday, April 8, 2009
Wednesday, April 08, 2009
TBJ Article
With Affordability Up, Home Buyers Return to MarketTulsa Business Staff4/8/2009 Thanks to record low mortgage rates and declining home prices, 55 million families — or half of all U.S. households — can afford today's $200,000 median-priced new home, according to figures released by the National Association of Home Builders.
“That's an increase of 17 million households from conditions just two years ago and the best housing affordability number we have seen in years,” said NAHB Chairman Joe Robson, a Tulsa home builder. “We are now seeing the first signs that buyers are returning to the marketplace.”
Based on data from the U.S. Census Bureau comparing home prices, mortgage rates and minimum income needed to purchase a median-priced home in February 2007 and February 2009, a typical family today can purchase a house with $20,000 less in household income and save nearly $500 per month on their principal, interest, taxes and insurance. The number of households that can afford to purchase a home today is 55.4 million, compared with 38.4 million two years ago, according to figures compiled by NAHB.
Single-family permits were up 11 percent in February, new and existing home sales also posted gains and the huge inventory backlog is being slowly whittled down. In a survey for Century 21 Real Estate last month among prospective first-time home buyers who indicated they were likely to purchase a home in the next two years, a majority – 78 percent – said that now is a good time to buy a home. Of those responding to the online poll, 68 percent said that now is a better time to buy than six months ago.
Another sign that consumers are considering jumping back into the housing market is the growing interest in the $8,000 first-time home buyer tax credit included in the recently enacted economic stimulus package. During February and March, 1.5 million visitors logged on to NAHB's consumer Web site, www.federalhousingtaxcredit.com, to learn more about the tax credit. Further, a new survey commissioned by Move, Inc. found that nearly 20 percent of those who plan to purchase a home this year are doing so to take advantage of the tax credit, which expires at the end of November.
Article from the Tulsa Business Journal
918-260-9932
Saturday, April 4, 2009
New Listing $289,900 Click here and take a tour.
I have a new listing . Tell eveyone you know that a beautiful home in The Villages of Highland Park is now available. A 4 bedroom 3.5 bath home with a 3 car garage. Formals, Master Down, 3 up plus a bonus/office and a game room up. Call for details.
918-260-9932
kensellshomes
Friday, April 3, 2009
We never stop moving video
Coldwell Banker Click Here Video or
There are two new videos. Click either link above
918-260-9933
Kensellshomes
Tuesday, March 10, 2009
Fabulous New Listing
364,900
7939 S. 92nd E. Ct.
5/3/2 in Fabulous Gated Community
KenSellsHomes
918-260-9932
kensellshomes@aol.com
Thursday, March 5, 2009
Mobile Solution to your home search
Did you know that when you drive by a house that has a real estate FOR SALE sign in front of it you can get all of the details from your internet capable mobile phone. If your phone has Internet access, then enter the URL http://kensellshomes.mobi/ Once you have gained access to kensellshomes mobile site you can enter the first few numbers of the address. The home will be displayed on your mobile phone. You can view the interior pictures, price and all of the amenities. You can even map it.
Be sure and register the first time you save a home that you are interested in. The homes will be E-maled to me so that I can arrange for you to see them.
Be sure and register the first time you save a home that you are interested in. The homes will be E-maled to me so that I can arrange for you to see them.
Terry and I continue to search for ways to make your home buying or selling experience less stressful and more profitable. Give is a call. KenSellsHomes.
Ken Rutherford,CRS
Ken Rutherford,CRS
918-260-9932
Wednesday, February 25, 2009
I wanted to share an E-mail I received from my tax accountant. It is an overview of the recent stimilus bill and how each of us may benefit. KenSellsHomes :>)- You don't live "off the grid," so you know that last week President Obama signed the "American Recovery and Reinvestment Act." While much of the news focuses on the spending provisions, it also includes $287 billion in tax cuts.
Here are the highlights: - A new refundable "Making Work Pay" credit for 2009-2010 to offset the first $400 of Social Security tax you pay ($800 for joint filers). It phases out as your "adjusted gross income" (AGI) tops $75,000 ($150,000 for joint filers).
- A new "American Opportunity" tax credit for college costs equal to 100% of your first $2,000 in expenses and 25% of your next $2,000 in expenses ($2,500 total). The credit phases out as your AGI tops $80,000 ($160,000 joint). You can also use Section 529 plan funds for computer-related expenses, including software and online access (2009-2010 only).
- A new above-the-line deduction for state and local sales and excise tax you pay on a new (but not used) car, light truck, RV or motorcycle bought between January 1 and November 30, 2009. The deduction is limited to purchases up to $49,500 and phases out as your AGI tops $125,000 ($250,000 joint).
- An enhanced "first-time homebuyer" credit (now $8,000) for purchases through November 30, 2009 -- with no requirement to repay the credit for homes purchased in 2009! (You have to use the home as your primary residence for at least 36 months to avoid repayment.) This credit phases out as your AGI tops $75,000 ($150,000 joint).
The act extends the current $250,000 first-year expensing limit and 50% bonus depreciation provisions for purchases through 2009. - Finally, the bill "patches" the Alternative Minimum Tax to protect 24 million mostly middle-income filers from the AMT's bite.
Congress passed the new rules with less deliberation than usual, so there's bound to be confusion.
Kensellshomes@aol.com KenSellsHomes 918-260-9932 http://www.tulsaareahomesales.com
Monday, February 16, 2009
American Recovery and Reinvestment Act.
Here is an update on the stimilus bill from Zeke Cancey with Coldwell Banler Mortgage.
Tomorrow President Obama is to sign the American Recovery and Reinvestment Act.
Below is an overview of changes that will effect the First-Time Homebuyer Credit program:
* Credit is 10% of the sales price up to $8,000. This is an increase from the previous maximum of $7,500.
* The repayment period of 15 years will be waived.
* If the home is sold within 3 years though the entire credit will be recaptured.
* The termination deadline will be extended from July 1st to December 1st 2009
* Purchasers can now use a revenue bond financing program (state/local bond program)
Let me know if you have any questions
Zeke
Zeke Chancey
Mortgage Advisor
Coldwell Banker Mortgage
918-260-6915
ezekiel.chancey@mortgagefamily.com
http://zekechancey.coldwellbankermortgage.com/
Tomorrow President Obama is to sign the American Recovery and Reinvestment Act.
Below is an overview of changes that will effect the First-Time Homebuyer Credit program:
* Credit is 10% of the sales price up to $8,000. This is an increase from the previous maximum of $7,500.
* The repayment period of 15 years will be waived.
* If the home is sold within 3 years though the entire credit will be recaptured.
* The termination deadline will be extended from July 1st to December 1st 2009
* Purchasers can now use a revenue bond financing program (state/local bond program)
Let me know if you have any questions
Zeke
Zeke Chancey
Mortgage Advisor
Coldwell Banker Mortgage
918-260-6915
ezekiel.chancey@mortgagefamily.com
http://zekechancey.coldwellbankermortgage.com/
Ken Rutherford,CRS
918-260-9932
Saturday, February 7, 2009
Great News about the Tax Credit (click here)
Senate OKs $15,000 tax break for home buyers. The proposal would allow a tax credit of 10 percent of the value of new or existing residences, up to a $15,000 limit. Current law provides for a $7,500 tax break for the purchase of new homes only. The new law is open to all home buyers and not just first time home buyers. It still needs to make it's way through congress. I will keep you posted.
KenSellsHomes
918-260-9932
Monday, February 2, 2009
Forecasting 2009 by Teena Arnold
Hello,
I found a great article that I want to share with my business partners. This is a prediction of what 2009 will look like.
The Economy will have a tough go once again during the coming year. But we do see things as being better than during 2008, with more optimism in the air.
The Fed and the Treasury have and will continue to add lots of stimulus to our economy. It will just take time for the "medicine" to work its way through the system. After hogging the spotlight with many different moves, we expect the Fed to be on hold with their interest rate policy throughout the majority of 2009. After all, there's no room to cut further, and we don't see a hike until economic conditions show signs of improvement. When a hike comes, we may all take it as a welcome sign that things are getting better.
The job market will get worse before it gets better, and don't be surprised to see the unemployment rate rise to 8% from its present level before things start to improve.
We can safely predict, without much disagreement from anybody, that volatility will continue for Stocks. But we do see hints that there will be a significant first quarter rally. By the end of 2009, we forecast the Stock prices will see some handsome gains. This play on financials has a generous dividend yield and stands to improve greatly should financials start to recover.....and we think they will.
On housing, we see 2009 as a period of price stabilization for most markets. One good gauge that home prices are stabilizing in your area is to figure a monthly payment with 20% down and compare that to rents for the same property. If it would actually be cheaper to purchase the home than to rent it - that's a good sign
Home prices in some markets may still decline some during 2009, but those who make savvy purchases below market value should fare quite well, especially longer term. There's a lot of inventory on the market, which is viewed negatively, and needs to be sopped up before the housing market really turns. But.... the inventory in the housing market does make this a fantastic time to be a buyer. Homebuyers will have a strong negotiating stance from the get-go, and are likely to make favorable deals, maybe even a once-in-lifetime deal. Those who buy a home and live in it for the long term are likely to be rewarded handsomely. Let's face it, people need homes. They are not going to start living in tents just because the economy is bad. We predict that consumers will start buying again in the coming year, particularly with attractive home loan rates and many homes to choose from.
Hope you found some interest in the above article. If I can help you and your clients, please do not hesitate to give me a call.
Teena Arnold Mortgage Loan Officer
I found a great article that I want to share with my business partners. This is a prediction of what 2009 will look like.
The Economy will have a tough go once again during the coming year. But we do see things as being better than during 2008, with more optimism in the air.
The Fed and the Treasury have and will continue to add lots of stimulus to our economy. It will just take time for the "medicine" to work its way through the system. After hogging the spotlight with many different moves, we expect the Fed to be on hold with their interest rate policy throughout the majority of 2009. After all, there's no room to cut further, and we don't see a hike until economic conditions show signs of improvement. When a hike comes, we may all take it as a welcome sign that things are getting better.
The job market will get worse before it gets better, and don't be surprised to see the unemployment rate rise to 8% from its present level before things start to improve.
We can safely predict, without much disagreement from anybody, that volatility will continue for Stocks. But we do see hints that there will be a significant first quarter rally. By the end of 2009, we forecast the Stock prices will see some handsome gains. This play on financials has a generous dividend yield and stands to improve greatly should financials start to recover.....and we think they will.
On housing, we see 2009 as a period of price stabilization for most markets. One good gauge that home prices are stabilizing in your area is to figure a monthly payment with 20% down and compare that to rents for the same property. If it would actually be cheaper to purchase the home than to rent it - that's a good sign
Home prices in some markets may still decline some during 2009, but those who make savvy purchases below market value should fare quite well, especially longer term. There's a lot of inventory on the market, which is viewed negatively, and needs to be sopped up before the housing market really turns. But.... the inventory in the housing market does make this a fantastic time to be a buyer. Homebuyers will have a strong negotiating stance from the get-go, and are likely to make favorable deals, maybe even a once-in-lifetime deal. Those who buy a home and live in it for the long term are likely to be rewarded handsomely. Let's face it, people need homes. They are not going to start living in tents just because the economy is bad. We predict that consumers will start buying again in the coming year, particularly with attractive home loan rates and many homes to choose from.
Hope you found some interest in the above article. If I can help you and your clients, please do not hesitate to give me a call.
Teena Arnold Mortgage Loan Officer
Work: 918-496-2241
Cell: 918-637-2610
Fax: 918-494-6771
918-260-9932
KenSellsHomes
Monday, January 26, 2009
NEWS RELEASE
2008 YTD Numbers for Tulsa Housing Market Outperform National Averages
TULSA, OK (January 26, 2009) – In 2008, amid what most consider the worst financial crisis of our time, Tulsa home values remained stable. The local 2008 YTD average price outperformed the national market. The Tulsa MSA average price YTD showed a slight increase from $146,354 in 2007 to $147,118 in 2008. Nationally, the average price of homes sold in 2008 fell 8.6%; it should also be noted that nationally the average price of $243,100 is almost $100,000 more than the local average of $147,118. GTAR noted that as one major strength of the local market; Tulsa has always had significantly lower prices than most of the country which allows buyers to get more house for their money.
Although prices have fallen nationally, lower prices are the stability of the local market. When other markets experienced rapid price increases, we remained steady at reasonable growth rates. The number of closed transactions in December 2008 were 3 fewer than that of a year ago; nationally, sales increased 6.5%.
Greater Tulsa Association of REALTORS®PR – GTAR December 2008 Stats
Page 2
The Greater Tulsa Association of REALTORS® (GTAR) statistics are published monthly by GTAR based on the Northeast Oklahoma Real Estate Services (NORES) multiple listing service data. The statistics are based on residential properties in the Tulsa MSA (Metropolitan Statistical Area), which is defined as a standard government based area. The Tulsa MSA currently includes seven counties: Tulsa, Creek, Osage, Rogers, Pawnee, Okmulgee, and Wagoner.
The Greater Tulsa Association of REALTORS® is a real estate organization whose Northeast Oklahoma members are united to provide services; to promote education, professionalism, and ethical standards in order to assist members in better serving the public and protecting the free enterprise system and private property rights. For comments on the statistics, contact NORES President, Gloria Allred at 481-8200 or GTAR President, Harriett Dunham at 825-2847.
2008 YTD Numbers for Tulsa Housing Market Outperform National Averages
TULSA, OK (January 26, 2009) – In 2008, amid what most consider the worst financial crisis of our time, Tulsa home values remained stable. The local 2008 YTD average price outperformed the national market. The Tulsa MSA average price YTD showed a slight increase from $146,354 in 2007 to $147,118 in 2008. Nationally, the average price of homes sold in 2008 fell 8.6%; it should also be noted that nationally the average price of $243,100 is almost $100,000 more than the local average of $147,118. GTAR noted that as one major strength of the local market; Tulsa has always had significantly lower prices than most of the country which allows buyers to get more house for their money.
Although prices have fallen nationally, lower prices are the stability of the local market. When other markets experienced rapid price increases, we remained steady at reasonable growth rates. The number of closed transactions in December 2008 were 3 fewer than that of a year ago; nationally, sales increased 6.5%.
Greater Tulsa Association of REALTORS®PR – GTAR December 2008 Stats
Page 2
The Greater Tulsa Association of REALTORS® (GTAR) statistics are published monthly by GTAR based on the Northeast Oklahoma Real Estate Services (NORES) multiple listing service data. The statistics are based on residential properties in the Tulsa MSA (Metropolitan Statistical Area), which is defined as a standard government based area. The Tulsa MSA currently includes seven counties: Tulsa, Creek, Osage, Rogers, Pawnee, Okmulgee, and Wagoner.
The Greater Tulsa Association of REALTORS® is a real estate organization whose Northeast Oklahoma members are united to provide services; to promote education, professionalism, and ethical standards in order to assist members in better serving the public and protecting the free enterprise system and private property rights. For comments on the statistics, contact NORES President, Gloria Allred at 481-8200 or GTAR President, Harriett Dunham at 825-2847.
Greater Tulsa Association of REALTORS®PR – GTAR December 2008 Stats
KenSellsHomes
918-260-9932
Saturday, January 24, 2009
Investment Opportunity.
New Listing Coming! Have you always dreamed of accumulating real estate properties but wanted to start small. Well here is your chance. I will put this 2 bedroom home on the market next week. It will be priced at $29,000.00.
It needs a little TLC but has central heat and Air. Vinyl Exterior. A large fenced yard.
The identical house next door is rented for 480.00 per the neighbor.
This is a bank owned property. It is sold "AS IS".
Roll up your sleeves, put on your overalls. With a little sweat equity you can create passive income and begin to watch the money roll in. Call or E-mail me for details!
KenSellsHomes
918-260-9932
Thursday, January 15, 2009
Home Price Comparison Index (Click Here
Have a little fun with this Home price comparison index. (click here)
You will be glad we live in Tulsa. Tulsa is very affordable.
In fact it is the 5th most affordable market in the nation.
And we all know what a wonderful place Tulsa is to live in.
Ken Rutherford,
Kensellshomes
918-260-9932
Wednesday, January 14, 2009
2008 Market Shares Total
We had a great 2008 and Coldwell Banker Select IS the Best Real Estate Brokerage in the State. We are looking forward to a fabulous 2009.
Our tools and my experience and expertise are the surest route to a safe and stress free real estate experience. "When you can't afford to take a chance", give us a call with all of your real estate needs.
Our tools and my experience and expertise are the surest route to a safe and stress free real estate experience. "When you can't afford to take a chance", give us a call with all of your real estate needs.
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