Tulsa Real Estate and More

What You Must Know About Insurance When Buying a Home

noreply@blogger.com (Brian Pingleton) — Wed, 15 Apr 2015 15:44:00 +0000

Purchasing a home involves getting to know a lot of financial terms and processes that most first-time homebuyers have never been exposed to. One of the most confusing is insurance. If you've never owned a home before, your familiarity with insurance most likely centers around auto insurance, health insurance, life insurance and, perhaps, renter's insurance.

Even then, your level of familiarity may be minimal, if you are like most Americans. In fact, a mere 14 percent of those who have health insurance understand even the most basic insurance jargon, such as deductibles, co-payments and co-insurance, according to a study published in the Journal of Health Economics.

The various types of insurance required in the average real estate transaction are even less understood, so let's take a look at them and get you up to speed.

Title Insurance

Title insurance comes in two varieties: a lender's policy and an owner's policy. If you take out a mortgage to purchase the home, your lender will require that you purchase a lender's policy. This protects the lender from anyone else who thinks he is the rightful owner or otherwise has a claim against the property.

Depending on where you live, you may also be required to purchase an owner's title insurance policy. In other areas, the purchase is voluntary.

The issuance of either policy is based on research of the property's title, or the "chain of title" as it is known. The examiner will look at public records, such as deeds, wills and trusts to ensure that the wording is proper and that the names on the documents are correct. She will look for outstanding mortgages, judgments and any liens against the property. She will check easements, look for pending legal action against the property and more.

Should the examiner find problems on the title, they will need to be remedied before the purchase can be completed.

Once the policy is in place, the lender (and you, if you purchase an owner's policy) is insured against unknown heirs coming forward claiming ownership, forged signatures on the deed, mistakes in the public records, and other hidden hazards.

Homeowners Insurance

You may hear homeowners insurance referred to as hazard insurance, but they are one and the same. Again, if you take out a mortgage to purchase the home, the lender will require that you purchase homeowners insurance.

While coverage varies, most policies cover fire damage or loss, theft, wind damage, hail damage, vandalism and more. Some perils aren't typically covered, such as flood and earthquake damage, but there may be supplemental insurance that you can purchase to cover these hazards.

Your insurance agent can help you determine how much coverage you require, based on the loan amount and what it might cost to rebuild the home.

Payments to the insurance company are either kept in an escrow account sent in with your mortgage payment or the homeowner pays the premium on her own – it varies by insurer.

If you suffer a loss, the insurance company will typically make out the check to both you and the lender.

Private Mortgage Insurance

Private mortgage insurance is something most homebuyers and homeowners would love to get rid of, but it's a necessary evil. Without it, many buyers would not be given a mortgage and thus not be able to purchase a home.

PMI is required of borrowers whose down payment is less than 20 percent. Because these borrowers are considered higher risk, the lender needs assurance that it will get its money should the borrower default on the loan.

Because the borrower pays the premium (typically added to the monthly mortgage payment), it seems that the lender is the only party that benefits. Keep in mind, however, that without PMI, lenders would demand a 20 percent down payment. Therefore, the cash-poor borrower reaps an enormous benefit.

The good news about PMI - at least for those with conventional loans - is that you can request a cancellation of the insurance once your loan balance reaches 80 percent of the original value of the home. Unfortunately, borrowers with an FHA-backed loan are locked into paying mortgage insurance premiums for the life of the loan, if they put less than 10 percent down. Borrowers who pay more than 10 percent, but less than 20 percent, can cancel the mortgage insurance in 11 years.

The best people to speak with if you have questions about any type of insurance required during the home-purchase process are your lawyer, your real estate agent and your insurance agent.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Memories (and some jobs) Remain; Longtime Resident Hilti Leaving Tulsa

noreply@blogger.com (Brian Pingleton) — Tue, 03 Mar 2015 16:42:00 +0000

Hilti North America has been a part of Tulsa since 1979, during which employed many of my friends and family. They established a name for being a great company to work for, with excellent benefits, competitive wages, employee support, and an admirable work environment.

How do I know? Certainly not because I've ever worked there, even though I tried. Back in 1998, I went through a rigorous recruiting process. Several recruiting and management staff spent an entire day with about a dozen fresh-out-of-college, bright-eyed hopefuls, including myself. As I recall, it was an experience and to this day, I've not forgotten the team building exercises, writing and sales agilities, and final sit-down analysis. I deeply respect and admire all those people that have broken through the gauntlet over the years. As for me, I never again considered going to work at Hilti, not really for the process I endured that day, although, it's certainly fathomable that my sub-conscious influenced me from returning. My career went in an entirely different direction, because now I have my own business in real estate that includes listing and selling residential properties.

Regardless, I've known good friends and clients who worked at Hilti over the years and they all give/gave nothing less than positive reviews. Generally, if you know someone who 'worked' at Hilti, chances are they actually still do. I believe Hilti employees are hard-working individuals who are committed to making their employer succeed. As a result, many Hilti employees have been such for a very long time, and if they haven't already been a Tulsa native, they most certainly feel like one now, which makes the decision to relocate its headquarters that much more disappointing. It pains me to see someone go through a forced job transition, as I know first hand about it. I was part of the telecom boom, and bust, back in 2000-2001. There's lots of things to consider being in that situation, as many Hilti employees are doing now. Thankfully, Hilti has stated they will keep 425 jobs in Tulsa while headquarters are being moved to Dallas.

One of the reasons I started my business in real estate was to find the freedom to help my community. While I enjoy supporting various local charities and non-profits, I feel this is a great opportunity to help more. If you are, or know, someone being affected by Hilti North America moving their headquarters, please contact me today.

I have created a special offer to help them sell their home in Tulsa, and if they desire, another offer for helping them buy a home in the Dallas area. I will also provide free consultation and a comparative market analysis. My goal is always to provide my clients the most information possible so they can make the best decision. The savings can reach up to $2500, and either way it's certainly worth your time to see how I can help you. At the least, you can see what your home is worth and evaluate your options.

Contact me through my website or call me directly for more information at www.BrianPingleton.com

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

3 Easy Improvements to Help You Sell Your Home

noreply@blogger.com (Brian Pingleton) — Tue, 24 Feb 2015 17:46:00 +0000

Forget, for a moment, about market trends and interest rates. At any given time, no matter the state of the economy, someone somewhere is selling their home. In any market, homeowners can up the odds that a home sells as quickly and as profitably as possible by giving it a facelift.

Sellers should focus on home improvement projects that either add value to the home or that attract buyers' eyes and pique their interests. Make them forget any other houses they viewed and want your house instead.

Don't randomly select home improvement projects based on your own tastes or suggestions from friends, either. You won't be the one living in the home, after all. Research houses in your community and compare features and appraisals to get a better idea what people in your area want. A swimming pool may be a popular upgrade in a Southern suburb filled with young couples and families, for instance. But in the North, a hot tub will have greater appeal. A community with older people, no matter where in the country, will probably value a car port or garage over a pool or spa.

Here are three home-improvement project categories that almost anyone can tackle without a large capital investment.

1.Boost Your Curb Appeal

You'll never get a second chance to make a first impression. When potential buyers drive up to your home, if they don't like what they see immediately, they may not get past the exterior to find the great things inside.

It's not about planting expensive trees, installing fountains or other fancy upgrades. In fact, some of the most value-added outdoor home-improvement projects cost little to nothing, except for your time. The National Association of Realtors® (NAR) suggests some of the following property improvements:

Get out your pruning shears: If your home is on the market, keeping the lawn mowed is a given. Keeping plants and flowers watered is also essential. Pruning trees, shrubs and other greenery is more easily overlooked, but it is one of those touches that will make your home stand out. Follow a pruning guide, like the one provided by Better Homes and Gardens, to get the most out of your efforts.

Dig into some mulch: Mulching is another often overlooked landscaping project with a tremendous impact. It helps conserve moisture, protects roots, discourages weeds, and other benefits. You can choose between all-natural mulches and decorative mulches, such as stone. You can even use compost that you create yourself or mown grass and fallen leaves.

Show off your green thumb: Purchase outdoor containers that complement your home's style and plant something unusual or interesting, NAR suggests. Place plants on the patio or around the home's entrance to immediately create a more appealing exterior. Plant bright flowers and foliage to provide a splash of color.

Clean up your home's exterior: Spend a weekend cleaning your gutters, windows and especially your siding, among other exterior items. Rent or purchase a power washer for a very affordable price to really make your home shine.

2. Add a Coat of Paint

Like a wash and wax for your car, a new coat of paint makes anything look better and brighter. To improve your home's value and attract buyers, consider a fresh paint job, inside and out.

The "safe" advice is to choose neutral colors, such as beige and off-white, and to avoid vibrant or gender-specific hues such as orange, purple or red. However, safe isn't always the best bet, arguesreal estate agent Todd Kroepel. "Keeping a home vanilla so that buyers can choose their own style and décor … ignores the fact that most buyers lack the ability to visualize the home differently," he cautions. Don't be afraid to add splashes of color and a touch of texture—it can be good to leave a dash of style evident.

Consider painting an accent wall in your living room with a contrasting color, or add some texturizing product instead. Adding hand-painted borders in the bathroom, by using stencils that run vertically or horizontally, is another classy touch.

Before painting, outside or in, ensure that the surface is clean and properly prepared. Use a primer to cover previously unfinished areas or bare wood, to better cover over dark or bold colors, or to block out stains. Inside your home, sand surfaces slightly if you don't use a primer, to help paint adhesion.

3. Update the Kitchen or Bathroom

Everyone appreciates a well-put-together and comfortable bathroom or kitchen. Renovations to these two rooms usually generate buyer interest and offer a high rate of return on investment when it comes time to sell.

Updates don't always require a large expenditure and a messy, lengthy remodeling period either. Some of the simplest things can change the entire feel of the room. Do as much, or as little, as you choose—just don't get too attached to the results.

Replace sink and bathtub fixtures: Switch out generic faucets and handles for newer, better-quality hardware. Think about using brass for a startling contrast, or select a style completely different from the current one.

Install a new sink: As long as you're replacing faucets and such, why not replace the bathroom or kitchen sink as well?

Refinish the cabinets: Solid wood responds well to sanding and refinishing with stain and a polyurethane top coat, or even paint. Newer cabinets often require refacing with veneer instead. Veneer kits make the job fairly simple: Adhere the material to the cabinet box (the portion left after removing doors and drawers) and then purchase new drawer fronts and cabinet doors to complete the makeover.

Upgrade your countertops: Replace laminate with stone, tile or even a concrete countertop. If you have old ceramic tile, clean or regrout to refresh the look.

Add lighting and accessories: Think in layers when it comes to lighting. Adding accent lights or task lights in any room of the house makes it more visually appealing. Other little touches include changing door knobs, light switch and outlet covers, or installing ceiling fans or a medicine cabinet. Consider swapping old light switches with dimmer switches or energy-saving, programmable lighting controls.

Highlight energy-savers: Speaking of saving energy, programmable thermostats, upgraded insulation and proper weatherproofing are music to many home buyers' ears.

While you can hire professionals to do the work for you, rolling up your sleeves and doing it yourself will increase the amount you recoup when you sell your home. Each project will increase the value of your property, no matter where you live, and help you sell your home faster.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

What to Look for When Buying an Older Home

noreply@blogger.com (Brian Pingleton) — Wed, 11 Feb 2015 19:13:00 +0000

Anyone who has visited San Francisco or Cape May, New Jersey knows how beautiful historic architecture can be. In San Francisco, they've even named their stately, restored Victorian homes "Painted Ladies."

But, are these older homes good buys? Considering that most of a home's components deteriorate with age, you may be not only buying a vintage home, but vintage problems as well.

Here's a quick look at some of the more common problems with older homes.

Foundation

It would seem that an old house has done all the settling it's going to do, right? Wrong, according to Page Engineering in Missouri. The rate at which the house settles diminishes over time, but it never completely stops – especially if the house has never been "piered."

Piers are long steel shafts that are driven through the soil and into the bedrock below. This process takes the weight of the home off unstable soil, and the home is less prone to settlement. It's a big job, though, and quite pricey.

Look for cracks in the walls, bulging floors and doors that won't close. These are all signs of possible foundation damage. Not all cracks, however, indicate a problem, so don't be alarmed – let a professional diagnose the situation.

The engineers with Page suggest taking a 4-foot bubble level with you when you visit an older home you're interested in purchasing. Use the level to check the floors and walls. If any of them are out of level, have the house checked by a structural engineer.

Electrical System

A home's electrical wiring system has a life expectancy of about 40 years, according to Mike McClintock, home repair writer with the Chicago Tribune. Safety risks increase when the system ages beyond this limit, he warns.

If the home was built between 1920 and 1950 and has never been remodeled, it may still haveknob-and-tube wiring, which is considered incapable of handling today's electrical loads.

Some home insurers won't cover a home with this type of wiring and will insist that it is replaced before insuring the home.

Your home inspector should be able to determine what type of wiring the home contains and its condition, at least in visible areas.

Plumbing

Old houses typically have old pipes. If the house you have your eye on was built before 1960, the pipes may be made of steel or cast-iron. These materials corrode, decay and rust over time. Cast iron pipes are notorious for becoming clogged with mineral build up.

Determining the type of pipes in the home is challenging because so much of the system is behind walls. A plumbing contractor inspection is your best bet, and even then you may not learn aboutall of the pipes in the house.

"Replacing old pipes in a 1,500-square foot, two-bathroom home costs $4,000 to $10,000, and requires cutting open walls and floors," claims Joe Bousquin at HouseLogic.

Roof

The last thing most homebuyers look at when they drive up to a home for sale is the roof. It's easy to be distracted by charming landscaping and attractive paint colors, but it's imperative that you take a good, long look at the home's roof.

Sagging is a sign that a roof is holding too much weight. This can happen when new roofing is installed over old roofing or from prolonged contact with a significant layer of snow.

If you know you'll be looking at older homes, take along a pair of binoculars. Before entering the home, look at the roof from the curb and determine whether the chimney and rooflines are straight.

Next, check the shingles. If they aren't flat and instead curled or cupped, they may need to be replaced.

Ask the homeowner the age of the roof. Although the lifespan of a roof depends on several factors, if it is wood, tile or asbestos and over 15 years old, you may need to replace it in a few years.

Since a new roof may cost upwards of $8,000, it's important to have the home's roof inspected before obligating yourself to purchase the home.

While it's highly doubtful that a home built in the mid-1800s still retains original components, you'll need to inquire as to the last time these elements were replaced.

Other problems you may find in an older home include:

Lack of storage

Lack of natural light

Inadequate insulation (thus higher heating and cooling costs)

Small kitchen

While all of these items can be rectified, the cost to do so should be factored into the price of the home.

That the craftsmanship and materials of an older home have stood the test of time is a testament to its quality. But few things last forever, and a home inspection, using the appropriate contractors, is a must when considering the purchase of an older home.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Weekend DIY Projects to Improve Your Home Value

noreply@blogger.com (Brian Pingleton) — Wed, 11 Feb 2015 19:08:00 +0000

The best home improvements are those that have a high return on the investment. Remodeling Magazine publishes an annual Cost vs. Value Report, analyzing the ROI of 35 separate remodeling projects. You can even look at the return based on your region.

The report is based on the assumption that you're using professional labor to perform the remodel. You'll get an even higher return on your dollar, when it's time to sell your home, if you do the job yourself.

We've compiled our own list of DIY projects that buyers like, you'll enjoy in the meantime, and you can accomplish in a weekend. To keep it simple, we focused on two areas of the home that are key when it comes time to sell: the entryway and kitchen.

Upgrade Your Entry

As potential buyers walk up to your home, they can't help but notice the door. Upgrading to a new entry door is the perfect weekend DIY project. Even better, it's one of the projects listed on the Cost vs. Value Report, year after year, as a remodel that returns most of the investment upon the sale of a home.

According to the 2014 Cost vs. Value Report, a replacement steel door recoups 96.6 percent of the investment, while a new fiberglass door will offer an ROI of 70.8 percent. However, the report factors in labor to determine how much of the cost is recouped. When you install the door yourself, your return can only be higher.

Even if you've never done anything similar, hanging a door isn't beyond your capabilities. Expect to spend less than a day on this project.

Touch Up the Kitchen

Everyone seems to gravitate to the kitchen, and many buyers consider it the most important room in a home.

For the first time in a decade, a minor kitchen remodel increases home value by almost as much as the money spent to accomplish it, according to the "Minor Kitchen Remodel" analysis included in the Cost vs. Value Report. Keeping in mind that the figures include labor costs, the report claims an average ROI of 82.7 percent on the project.

Any single item on our list will make a noticeable difference in the feel and value of your kitchen.

Refinish your cabinetry. Modern veneer kits make resurfacing cabinet boxes fairly easy. Take off the doors and remove the drawers first. After installing the veneer, put new drawers in place. Add new knobs and pulls as well. The result: new-looking cabinets at a fraction of the cost.

Replace the countertops. Depending on the new counter surface selected, replacing a countertop is fairly simple and not likely to take more than a day or two.

Install new sink hardware. A mid-priced sink and new faucet freshen up the look of an older kitchen. Don't be afraid to try a different style or material.

Go shopping. New appliances can only increase your home value. Focus on ovens and cooktops that offer greater energy efficiency.

Focus on the flooring. As much traffic as the kitchen witnesses, the floor gets worn out easily. Consider installing new flooring to raise the value of your home.

When contemplating remodel projects, keep in mind that it's possible to over-improve a home, depending on the neighborhood and real estate market. Compare your home's features to those of nearby homes to get a better idea of what will prove valuable – or not – in your area.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

How to Lower Your Heating and Cooling Costs

noreply@blogger.com (Brian Pingleton) — Wed, 11 Feb 2015 18:33:00 +0000

When temperatures drop below freezing or rise to the point of sweltering, does it seem like your wallet develops leaks? If keeping your home comfortable year-round taxes your budget or tempts you to forgo comfort, you need to find a better way.

Try implementing simple methods to lower your heating and cooling bills.

Save on Air Conditioning

If you didn't have to heat or cool your home, you could easily cut your energy bills in half, as the Department of Energy points out. Few people want to return to the days before air conditioning and central heat, however. The problem, then, is balancing comfort with affordability. Try implementing these cooling strategies to save money while keeping cool.

Raise the AC temperature. Most experts suggest setting your thermostat to about 78 degrees when you're at home and around 85 degrees when you will be gone four hours or longer. For every degree higher you set the thermostat, you may save 1 to 3 percent on your energy bill.

Get a tune-up. As much as you may hate to spend the money, having your central air or window air conditioning unit serviced before the start of the cooling season will keep it operating efficiently and help ensure it doesn't break down at the worst moment possible.

Create wind chill. Moving air always makes you feel a little cooler. Purchase, install and run fans to help cool off even with the thermostat set higher. For ceiling fans, set the blades to spin counterclockwise, creating a cooling downward breeze. Turn off fans when you leave the room for more than a few minutes to conserve energy.

Take advantage of cool nights and mornings. If the temperature outside is lower than inside, turn off the AC, open the doors and windows, and allow the outside air to come in. Not only is fresh air healthy, but you can keep your house from heating up too early in the day.

Develop a green thumb. Trees and shrubs beautify your property and, when planted strategically, help shade your home. Shade means less need for summer cooling. Also, plant shade trees or shrubs around your AC unit so that it doesn't have to work as hard.

Block your windows. Save soaking up the sun for time spent outdoors. Inside, draw curtains to block out the sun. Look into window film to block sunlight and insulate the glass. Blinds, shades, shutters and other options exist as well.

Save on Heating

Don't let winter's frigid temperatures make your energy bills soar sky-high. Focus on a few strategies that keep the cold at bay while preventing the heat from leaking out of your home.

Lower your heating thermostat. When heating your home, keep your thermostat set at 68 degrees. At night and when you leave the house for four hours or longer, try setting it for between 55 and 60 degrees (if you have pets, you may want it closer to 60).

Have your furnace serviced. Even if it seems to work fine, having your furnace or heating system checked and serviced at the start of every heating season helps prevent unexpected breakdowns and ensures it operates efficiently.

Reverse your ceiling fans. Using ceiling fans isn't just for summer. In the winter, reverse the ceiling fan so the blades spin clockwise. This forces the warm air down as it sucks the cool air up toward the ceiling.

Install storm windows. Your windows are responsible for losing a tremendous amount of energy. New, energy-efficient windows are best if you can afford them. If you can't, install storm windows (and doors) in the winter to help prevent heat loss.

Get a snake. Don't like snakes? You'll like this one: Draft-stopping snakes fit along the bottom edge of a door to prevent drafts. Even a rolled-up towel will work.

Year-Round Heating and Cooling Efficiency

Change your filters. Changing HVAC filters is critical. Changing your filters will prevent dust and dirt from clogging the system and causing inefficiency.

Learn to use caulk and weatherstripping. Check for drafts around windows, doors, and places where wiring, plumbing and other items enter the home. Caulk and weatherstripping will stop much of the air leakage. Use expanding foam insulation where appropriate.

Seal your ductwork. Duct tape only goes so far. Hire a professional or seal your ducts with sealant and special tape to increase your energy efficiency.

Add some insulation. Unless your home was built recently, it may not have the insulation it requires. Insulation matters in both hot and cold weather. Add insulation, especially in the attic, to lower your heating and cooling bills. Calculate your insulation value by measuring the thickness and multiplying by the material's R-value. Compare to the Department of Energy's guidelines.

Get a new thermostat. A programmable thermostat can save you a significant amount of money by automatically adjusting the temperature according to your schedule.

Have an energy audit performed. A professional energy audit identifies where your home is losing heat. Many local energy companies offer free or low-cost audits to their customers.

Many people find it challenging to set their thermostat higher in the summer and cooler in the winter. Once your body adjusts, the new temperature won't be as difficult to maintain. Consider adjusting the setting by 2 degrees at a time over a period of weeks. Before you know it, you will be used to the new normal and enjoying every dollar you save.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

What Counts as a Comp for Your Home?

noreply@blogger.com (Brian Pingleton) — Tue, 10 Feb 2015 18:34:00 +0000

From replacing a rusted out bathroom sink to laying laminate flooring, Americans are hooked on the DIY craze. Some things, however, are better left to professionals. Establishing your home's current market value before putting it on the selling block or pursuing a refinance is one of those things.

To determine its value, appraisers and real estate agents will compare your home (the "subject property") to those that have recently sold in the area (known as "comps"). They will adjust the comps' prices up or down, according to how similar each home is to yours.

Read on to learn how a home qualifies as a comp for yours.

Status
The market value of a home is, simply, what a knowledgeable and willing buyer will pay it. This figure is reflected in the sales price of recently sold homes.

Appraisers and real estate agents use the local Multiple Listing Service (MLS) database in their research, to look for homes that have sold within the past six months. Only real estate licensees that pay an MLS membership fee will have access to this database, so a DIY consumer will find it challenging to locate a full and accurate list of sold properties.

Location
Since location is one of the principal indicators of property value, appraisers and real estate agents seek sold homes that are in close proximity to the subject property. Some lenders give strict location requirements to appraisers, for example a comp in an urban or suburban area must be no more than one mile away, and rural comps no more than five miles away.

Real estate agents, on the other hand, have a little more leeway and will typically begin their research close to the subject property and then widen the area until they've found three comparable properties that have sold in the past six months.

Neighborhood characteristics that influence a home's value include:
Nearby parks
Proximity to shopping
Neighborhood condition
Traffic, airport or other noise
The quality of the school district
Number of distressed properties in the neighborhood
Declining values or oversupply of homes in the area

Price Per Square Foot

You may see sold homes or homes for sale that list the price per square foot in addition to the price of the home. This figure takes into account only the home's square footage and nothing else. Because it fails to account for the diverse aspects and special features of the house, it isn't an accurate reflection of value.

That said, with all other aspects being equal, a larger home will most likely sell for more than a smaller home.

Condition

Deferred maintenance will drag down the value of a home. Deferred maintenance includes all of the items you have been meaning to fix, but never got around to. Examples include:

Leaky faucets

Cracked windows

Loose or missing hand rails

Structural damage

Overgrown landscaping

Dirty or damaged carpets or other flooring

The Process
Since it is unlikely that your agent or an appraiser will find a home that's identical to yours, he or she will need to make adjustments to the sold prices of the comps to account for the differences.

If the comparable home is inferior to the subject property, value is added to bring it up to par. Conversely, if the comparable is superior to the subject, value is removed.

Here's an example of how this works:

The subject property has three bedrooms, two bathrooms and a pool. The comparable property, located three blocks from the subject, sold three weeks ago for $387,500.

The comparable property has three bedrooms and two and a half bathrooms, but it doesn't have a pool.

The appraiser or agent will deduct value from the comparable for the lack of a pool and add value for the extra half bathroom. The amount to deduct or add depends on the value the local market places on items such as a pool or a half bathroom.

The adjusted price range of the comp will reflect the current market value of the subject property.

Determining a home's market value isn't rocket science, but it does require current, accurate information and some experience with the process. A professional real estate agent will not only determine the current market value, but will also give you tips on how to get top dollar for the home.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Flood Insurance Rates Going Up? Here’s What to Do

noreply@blogger.com (Brian Pingleton) — Mon, 09 Feb 2015 18:02:00 +0000

By: Dona DeZube
Published: July 22, 2013

If you live where floods happen, you may see an increase on your next flood insurance bill. Here’s why rates are changing, plus tips to help you figure out if you’re affected.

(On March 21, 2014, President Obama signed into law a bill to provide relief from high flood insurance rates. Read about it here.)

Why Are Rates Going Up?

Two reasons:

1. The Federal Emergency Management Agency is updating its flood maps to be more accurate, which could change your flood risk designation. If your risk is higher, your premiums will go up. If it’s lower, your premiums could go down.

2. Last year, a new law took effect that requires the National Flood Insurance Program (NFIP) to phase out subsidies for some older properties to reflect the full risk of flooding.

Phasing out the subsidized rates and discounts over the next five years will help the NFIP stay solvent.

Some subsidies have been given in the form of “grandfathering.” A grandfathered rate is a discount given to homes built in compliance with then-existing standards in a flood-mapped community where the flood risk has since increased.

Congress and FEMA are reviewing these properties to determine whether to phase out these grandfathered rates. FEMA won’t make a decision on this until late 2014. By then, Congress could pass a law delaying the increase indefinitely.

Do You Have a Subsidized or Discounted Rate?

Only 20% of NFIP policies are subsidized. Most hom eowners already pay the full rate and won’t see an increase.

If your property isn’t your principal residence, is in a special flood hazard area, and was built before the first flood insurance rate map was implemented for your community, you may be getting a subsidy for being what’s called Pre-FIRM (pre-flood-insurance-rate-map).

TIP: To find out if your home is Pre-FIRM, look up your area in the Federal Emergency Management Agency’s (FEMA’s) Community Book.

1. Click your state.

2. Look for the date in the “Init FIRM Identified” column for your area.

If your home was built before that date and it’s in a special hazard zone, you probably have subsidized flood insurance.

If Your Premiums Aren’t Subsidized or Discounted

It’s possible you still could see a change in your flood insurance premiums if your home is in a community that adopts a revised flood map after July 6, 2012. If that revised flood map puts you in a different zone, your rates could go up or down.

When Will the Rate Changes Take Effect?

If your home is Pre-FIRM and it’s a second home (rental or vacation), you may already have seen your rates change. A 25% increase was implemented for policies renewing after Jan. 1, 2013. Increases will continue each year until they reach full-risk rates.

In October 2013, more subsidized homes will start seeing rate increases of 25% each year:

Severe repetitive loss properties

Business properties

Properties with previous flood claims for more than the market value of the property
If you have a Pre-FIRM home, and it’s your primary home, and it doesn’t fall into the above-mentioned categories, (lucky you!) you get to keep your subsidized rate until:

You sell your home.

You let your policy lapse.

You have severe, repeated flood losses.

You buy a new policy.
Can You Get a Better Rate?

You may be able to get a lower flood insurance rate by changing your home’s flood risk. Congress appropriated a large sum of money for property owners to raise their homes onto piers, posts, columns, or pilings. Check with your local community to see if grant money is available to help you do that. Talk to your insurance agent about how elevating your house will change your flood insurance premium.

There’s also a Community Rating System that could reduce flood insurance rates by up to 45%, depending on which flood plain management regulations your community adopts.

Check with your local officials or insurance company to see if your community participates and if you can get a discount for that. If your community doesn’t participate, write a letter to local officials urging them to join the Community Rating System.

Other things you can do to trim your flood insurance premiums:

Opt for a higher deductible on your excess insurance policy if you have one.

Convince local officials to put more money into community flood mitigation projects to lower your flood risk.
It won’t lower your premium, but having a flood cleanup kit on hand will make your life easier if you do have a flood.

By the way, NFIP is the best deal. Without it, you have to take your chances in a virtually nonexistent private market for flood insurance at rates only the wealthy can afford.

Some of the same companies that provide private flood coverage also sell “excess coverage” flood insurance. Excess coverage pays to rebuild homes valued at more than the NFIP limit of $250,000.

Mistakes in Flood Insurance Premiums

It’s possible the rate you’re quoted for flood insurance is wrong. If you disagree about whether your home is in a particular flood zone or the insurer didn’t take into account the pilings that raise your home 12 feet in the air, you can appeal your home’s flood zone determination.

An elevation certificate from a surveyor or engineer can lower your premium if it proves your home sits above the predicted flood level.

You’ll also want to correct insurer mistakes that lower your premium. For example, if your policy says your home doesn’t have an elevator or crawlspace and it does, tell your agent, even if your premium will rise when those are included. That ensures your property and possessions are fully covered and recoup what you’re owed.

Think the FEMA map itself is wrong? Check with local zoning officials, your builder, prior owners, a local surveyor, and FEMA to see if anyone has filed a Letter of Map Amendment asking for a map review.

If no one has filed, you can do your own appeal.

Read more: http://members.houselogic.com/articles/flood-insurance-rates-going-up/preview/#ixzz3RGv5kr3w
Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Tips For Buying A Foreclosed Home

noreply@blogger.com (Brian Pingleton) — Mon, 23 Jun 2014 21:48:00 +0000

Homebuyers in the market for a deal on their dream home need two things: lots of patience and the stomach to do battle with investors. Any home that is in a decent area and priced right is facing keen competition in today's market.

Homebuyers in the market for a foreclosure need those qualities tenfold. Buying a foreclosure is a lengthy process, and, although most investors prefer pre-foreclosure sales and auctions, you will face your share of competition for bank-owned homes.

Let's take a look at some foreclosure-buying options and how to participate.

Buying a Foreclosure at Auction

Homes that are sold at auction, typically carried out at the county courthouse, are those that homeowners have lost because they failed to bring the mortgage current during the reinstatement period.

The lender's representative, known as the trustee, will be on hand to receive the money from the winning bidder, if there is one. The opening bid is typically equal to the loan balance, trustee's fees, accrued interest and other costs incurred by the lender during the foreclosure process.

Can you get a bargain at auction? That depends on how much the homeowner owed before defaulting on the loan. The opening bid must be met or the trustee purchases the property and it then becomes an REO, or "real estate owned" by the lender.

You may have seen foreclosure auction shows on TV. If so, you know it isn't the place for a novice to get a good deal. Most of the bidders are highly experienced flippers and investors offering up fierce competition.

You will also not be able to view the inside of the home or perform inspections. Plus, if you're the winning bidder, you may have to evict the current occupants. Depending on the state in which you live, eviction may be costly and time-consuming.

Finally, many foreclosures have additional liens against them, which you will take on if you purchase the property. Recorded liens are public information; you can search for them at the county clerk's office, the county recorder or the assessor's office. But not all liens are recorded.

One way to ensure you're protected is by purchasing an owner's title insurance policy.

Buying an REO

Purchasing a bank-owned property is much easier than buying a home at auction and much like a conventional purchase.

You'll need a loan preapproval letter from your lender, unless you're paying cash, and the services of a real estate agent.

Most REO properties are vacant and somewhat cleaned up. Although the bank won't supply you with property disclosures as sellers in a conventional transaction are required to, you will be allowed time for inspections.

Many experienced REO buyers perform extreme due diligence, such as checking the city planning office for permits that may be on file for any work the previous owner performed. Have anything that looks the slightest bit suspicious inspected, from the roof to the foundation.

Your buyer's agent should be able to assist you in learning as much as possible about the home's history. And, since real estate brokers are required to hold on to transaction files for a number of years (varying according to state), if the home sold in the past few years, your agent may be able to track down a past disclosure.

Banks typically don't pay for repairs to the property, so you'll need to take on that expense. Ultimately, although it may seem that you're getting a bargain-priced home, once all is said and done, it may be worth it to purchase another home in turnkey condition.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

How To Design A Kid-Friendly Backyard

noreply@blogger.com (Brian Pingleton) — Thu, 19 Jun 2014 16:47:00 +0000

One of the pleasures of having a home is the space that a backyard provides for activities with family and friends. A backyard can be a great place for kids to burn off energy, explore the outdoors, and simply relax.

When children are small, care should also be taken to ensure their safety. The following are things you can do to design a kid-friendly backyard that is both fun and safe.

Maximize Exercise Space

It's tough these days for children to get enough exercise, but an area dedicated to lawn makes a more kid-friendly backyard. Provide enough space to run around, play tag, or throw a ball. The shrubs around this activity area should be tough, thorn-free, and able to withstand occasional abuse from balls or kids running into the beds.

Plant Fruits and Vegetables

Getting kids to eat their fruits and vegetables can also be a challenge. Why not make eating colorful, nutritious food more interesting by letting children grow their own fruits and vegetables? Tomatoes, potatoes, carrots, raspberries, and blueberries are all easy to grow. When children see fruits and vegetables go from seed to plate, they are more likely to eat them.

Create Interesting Garden Spaces

Is there anyone who hasn't played hide-and-seek? Providing a lawn isn't the only way to ignite a child's sense of play and creativity. Gardens can be divided into "garden rooms." Think of the lawn as the living room of the backyard, but you can also create a cozy nook with a bench surrounded by shrubs. This kind of space might provide a great kid-friendly place to read a book or the perfect hiding place for that next game of hide-and-seek.

Provide Protective Fencing

Designing a kid-friendly backyard is also about safety. When young children are present, it's important to provide protective fencing that not only keeps them from wandering off, but also keeps strangers and stray pets from coming into the backyard.

Provide Guardrails on Decks and Site Walls

Generally, building codes call for guardrails on any raised surface, deck, or wall that is 30 inches above the ground or adjacent surface. Handrails are needed on any staircase with four or more steps. The openings on guardrails and handrails must be sized so that a 4-inch sphere cannot pass through in any direction. This is also true for fence pickets.

Don't Plant Poisonous Plants

Babies and toddlers are always putting things in their mouths. Leaves, bark, colorful flowers, and berries can all look very enticing to curious, young children. Before planting any plant in your backyard, do a little research. Look the plant up in a plant encyclopedia or online and see if it is poisonous. Some very common plants are poisonous: daffodils, daphne, foxgloves, and rhododendrons, just to name a few.

Don't Allow Unrestricted Access to Pools and Water Features

Babies and small children can drown in a surprisingly small amount of water. Therefore, it's important to supervise children around swimming pools, hot tubs, fountains, and water features. These water-based amenities can provide hours of enjoyment, but their location and access to them should be carefully planned to prevent accidental drowning. Provide locked doors or gates where appropriate to prevent small children from playing in water unsupervised.

Designing a kid-friendly backyard involves finding ways to inspire creativity and play within a safe environment. It's as easy as that. Now go outside and play!

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Is Your Garden Really Green? Creating an Eco-Friendly Landscape Design

noreply@blogger.com (Brian Pingleton) — Mon, 16 Jun 2014 16:17:00 +0000

You may have the greenest lawn on the block, but is your garden really "green," meaning ecologically friendly? Often the answer is a resounding "NO."

Just the fact that you have a lawn at all can be an indicator that your landscape is not as green as it could be. Lawns generally need more water and fertilizers than other plantings. Plus, they need to be mowed approximately once per week in the summertime, and if you don't have an electric or reel mower, you're burning fossil fuels every time you mow.

What are some ways you can create a garden that is really green? How can you create an eco-friendly landscape design?

Be Water-Wise

When it comes to an eco-friendly landscape, being water-wise means not only reducing the amount of water you use, but also managing stormwater - water that falls during a rainstorm, on site. Stormwater often gets directed to a pipe as soon as possible and then directed to a river, pond, or sewer. But, it is possible to capture it, store it, and redistribute it to be used again. For example, direct the downspout from your rain gutters to a rain barrel and then use the captured water to irrigate your landscape.

Reduce Impervious Surfaces

Another way to create an eco-friendly landscape design is to reduce the amount of impervious surfaces on your property. Impervious surfaces are areas like concrete, asphalt, and stone pavers where water cannot penetrate the surface. The water that used to soak into the soil has to go somewhere. When water can't infiltrate the soil surface, it causes problems downstream and has detrimental effects on rivers and streams. Pervious concrete and asphalt have come on the market and offer an alternative to impervious surfaces.

Use Drought-Tolerant Plants

This tip is related to being water-wise. If you want to create an eco-friendly landscape design, use drought tolerant plants.

Go Native

Native plants are well-adapted to live in the area in which you live. Plus, they typically will provide a food source or some sort of ecological input that supports local insect and animal species.

Build and Protect the Soil

In most suburban and urban areas, the soil is terribly depleted of minerals and nutrients. By amending the soil with organic fertilizers, cover crops, and compost, you can support an eco-friendly landscape design and help protect the soil structure. This creates a more nutrient-rich soil in which your plants can grow.

Grow Your Own Food

From farming methods to transporting food, we rely on fossil fuels to feed everyone in the United States. You can do your part to reduce the use of fossil fuels, reduce food miles, and provide nutrient-rich vegetables to your family by growing your own food. You can grow a surprising amount of food in a small space, and wouldn't it be nice if you could simply walk out your back door and harvest some lettuce for dinner?

Get to Know Beneficial Insects

Many gardeners mistakenly think all insects are bad. If they don't recognize a particular insect, they go get the sprayer and shoot the insect with a chemical pesticide until it dies. This is one of the worst things you can do. Why? There are many insects in the garden that help keep the "bad bugs" in check.

Have you ever noticed a rose bush covered in ladybugs? They're probably there because they're eating the aphids. If you look closely you'll see them. However, if you see the ladybugs, mistakenly think they are hurting your roses, and decide to kill them with pesticides, you're actually creating more work for yourself. The next time the aphids come, and they will, there will not be ladybugs there to defend your roses. You have just inherited the ladybugs' job. To create an eco-friendly landscape design, you must understand your ecosystem. That means getting to know the beneficial insects in your garden and learning how to support them in their work of defending your garden.

These are just a few of the many ways in which you can create an eco-friendly landscape design. The bottom line is that you must work with nature, not against it.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Designing with Your Teen: Bedroom Décor

noreply@blogger.com (Brian Pingleton) — Fri, 13 Sep 2013 13:30:00 +0000

It's time to put away the beloved character comforters and sheets - your little girl or boy is no longer a child. The switch from cartoon characters to a more mature bedroom décor can be a smooth experience for both parent and child.

When tweens enter the full-fledged teen years they yearn for independence. They want control and decision-making privileges. It might be scary to imagine teenagers choosing their own paint colors, furniture, and decorations, but with a strong design plan this process doesn't have to be intimidating.

Get Inspired With a Design Board

Teen bedrooms can be mature but still have an element of fun. Their décor can reflect their interests in sports and hobbies in a stylish, organized way. Creating a design or inspiration board is the perfect way to find a happy medium between what parents want and what teenagers want. Choosing the perfect design elements will create a space that fosters confidence and self-expression while avoiding clutter.

The design board should include everything that will go into the bedroom. Not only should it have pictures of furniture and paint and fabric swatches, it should also include details like lighting fixtures and accessories. One to create the board is to cut out pictures from magazines and glue them to a paper poster board. Your teens can also search online for pictures that can be printed out and affixed to the board. Another option is to copy and paste pictures from websites like Pinterest and Tumblr to a blank document on your computer. Once the design board is made, parents and teens can go over it together to be sure both parties agree on the design plan.

Choosing Colors

Don't be caught off guard if your teen chooses an outrageous color like bright pink or black. Bold, funky colors can be a fantastic outlet for their personalities. If you can't deal with all the walls being drenched in an over-the-top color, use the wild color as an accent on a single wall, a border, or as a pattern throughout the room. Another option is to use a more subtle color for the walls and brighter or bolder fabrics and accessories throughout the room.

Bedroom Furniture

Beds, dressers, entertainment centers, desks, nightstands and bookcases are often part of a teen's bedroom décor. If all of these pieces are too much for the size of the space, then consider picking dual-purpose furniture, like a workspace that includes shelving or an entertainment center that houses a television and has shelves for books and accessories. You may want to forego the dressers for under-bed drawers to keep clothing neatly stored. Installing a closet organization system is another way to store everything from clothes to shoes, bags, coats, and accessories.

One thing you don't want to skimp on is shelf space. Shelves are great places to display books, but they are also perfect for displaying trophies, photo frames, and more. When purchasing basic furniture like the bed and nightstand, consider the future use of each piece. Will the furniture be staying long after your teen graduates from college, or will your child be using the furniture to fill a college dorm or first apartment? This will help you decide how much money to invest in the furniture as well as what style options are most appropriate.

Lighting and Accessories

Overhead lights and lamps come in every style imaginable. A simple overhead ceiling fan with lights can provide circulation and bright light when needed. Matching or coordinating small lamps are good for desk areas and nightstands. Dimmer options on all lights are practical features that will allow optimal lighting for any situation.

Framed wall art can give teen rooms a grown up appeal without going overboard. Buying art from a local artist or encouraging your teen to create their own art can make these accessories affordable. Words and geometric designs that adhere to the walls are fun ways to allow teens to express themselves without ruining wall paint.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Are You Ready to Buy a House?

noreply@blogger.com (Brian Pingleton) — Fri, 13 Sep 2013 13:23:00 +0000

Cue Michael Buffer yelling, "Are you ready? Let's get ready to rumble!"

Buffer's is a fitting soundtrack for the homebuyer in a seller's market, trying to prevail in catching the seller's attention. The better equipped with knowledge you are, the better your offer will look to the current owner of what you long to possess: the home of your dreams.

Let's take a look at a few ways to get prepared to purchase a house.

Check Your Credit

The highest credit scores garner the lowest down payment requirements and lower house payments. Homebuyers with scores under 620 will find it a challenge to obtain financing and, if they do, they'll pay a higher rate.

You are entitled to a free copy of your credit report once a year. Make sure you order the reports at AnnualCreditReport.com, the only site authorized by the federal government.

When you get your reports, either online or in the mail, go over them, looking for mistakes or anything else you can challenge. It is not at all unusual to move your score up dramatically by disputing and having the agency remove even one negative entry from your credit report.

Pay Your Bills

Lenders determine how much they will loan by using what is known as a debt-to-income ratio (DTI). To determine where you are right now, add up all your monthly payments, including auto loans, credit card payments and any other debt. Don't forget to add in your current mortgage or rent payment.

Divide the sum of your monthly debt payments by your monthly gross (before tax) income and then multiply that result by 100. This is your DTI, expressed as a percent.

What is considered an acceptable DTI varies by lender, but they typically want to see it no higher than 36 percent.

If you find that your DTI is on the high side, pay off some bills or increase the amount you pay each month to bring down the balances. Also, don't take on new debt as this will negatively impact both your DTI and, possibly, your credit score.

Save Your Money

Loans from the Veterans Administration and USDA have no down payment requirements. FHA, on the other hand, requires 3.5 percent of the purchase price as a down payment, unless your credit score is between 500 and 579, in which case expect to put 10 percent down.

For a conventional loan, you'll need at least 20 percent of the purchase price as a down payment on the house. Again, more is better – the more cash you put down, the better the interest rate. The amount of the down payment may also determine whether or not you'll have to pay for private mortgage insurance.

Don't forget about closing costs as you save – those are all those fees that can pack quite a wallop at the closing table. Some of the fees are negotiable, and the total varies. Use 3 to 4 percent of the loan amount as a ballpark figure

Arrange Your Financing

In many parts of the country investors are snatching up any house that's in decent condition and reasonably priced. Because they typically offer cash, their offers are the cream of the crop to home sellers looking for a clean transaction and a quick close.

Investor offers are mighty hard to compete against – especially if you go into the process unprepared.

When you look over a standard purchase agreement you'll notice a section regarding financing. It will typically state that the buyer has so many days to obtain a mortgage at specified rates and terms. If the buyer hasn't been pre-approved by a lender for a mortgage, there is always a chance that he won't qualify for a loan.

A savvy home seller knows this. Faced with multiple offers on his home, he isn't about to go under contract with a buyer who is a gamble.

Rule number one, then, when considering the purchase of a home, is to see a lender to get your mortgage preapproved. No, this doesn't put you ahead of an investor with cash, but it puts you in front of other buyers who don't have their financing arranged.

Make up Your Mind

As you get closer to finalizing the first steps toward buying a home, it's time to determine just what it is you want. One story or two? Condo or single-family home? Urban or rural? Determine how many bedrooms and bathrooms you simply must have and any other features that you can't live without.

Hire a Real Estate Agent

There is absolutely no reason to not hire an agent when purchasing a home. The commission is paid by the seller at the close of escrow, so the services cost you nothing. Not a bad price to pay for expert representation by someone who is legally required to protect your interests.

A good real estate agent is, overall, available to show you homes at your convenience. He or she is also familiar with the areas you've chosen for your house hunt. The right agent will follow your wish list to the letter, not wasting your time showing you homes that don't fit your criteria.

Congratulations on your decision to buy a home.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Decorating Your Deck

noreply@blogger.com (Brian Pingleton) — Thu, 12 Sep 2013 21:55:00 +0000

The deck is a great, and sometimes underestimated, place for entertaining. A well-decorated outdoor space provides the perfect ambiance for gathering with friends and family, grilling and enjoying the extra time surrounded by nature.

Decks can be transformed with simple solutions, including a variety of plantings, intimate lighting and an array of colors. Get inspired with these deck design ideas to decorate your outdoor space.

Heat-Resistant Blooms

Plants are the most important feature on your deck to create an environment that embraces being outdoors. Nothing is worse than a sterile wasteland of deck space. Potted plants are a simple addition to a deck to add lush greenery and vibrant color. But, overexposure to the elements can fry your beautiful plants, so be sure to consult the experts at your local nursery to select plants that can withstand the heat.

For color that lasts, a few examples of heat-resistant blooms include Angelonia, or the summer snapdragon, with its purple, white or pink flowers. Canna is also another perfect plant for creating a tropical look with large leaves and bright flowers in shades of red, orange, yellow, and pink. Lantana produces multicolored flowers in welcoming shades of red, orange, yellow, pink, and white and is a favorite for butterflies. Butterflies also love the starry clusters of Pentas flowers. Flowering vines with large blooms, like Mandevilla and Passionflower, are great climbers and could be used as colorful backdrops on the deck, either climbing the walls of the house or a tall framework on the deck.

If you are looking for greenery options without the blooms, bamboo is easily grown in containers and creates a lovely, tall green space on your deck. With its big leaves, the banana plant can also do well in large, colorful pots and makes a great big presence out on the deck. As long as you don't have children around to get hurt on the sharp leave tips, a potted Agave is perfect for some architectural flair.

Shade Solutions

Nobody wants to melt in the sun or run inside when it rains. Your deck should offer at least one space that serves as respite from direct sunlight and the weather. Say no way to the boring eyesore of the oversized table umbrella. There are many shade solutions to consider when decorating your deck. Large canopied awnings (freestanding, framed and bolted into your deck, or retractable), DIY shade alternatives (hand-built pergolas with heavy vine coverage or awning fabrics), and inexpensive sun blockers like portable tents are all options to explore. They will keep your deck cooler and screen out harmful ultraviolet rays.

Deck Furniture

The best options in outdoor furniture are pieces that are low-maintenance and positioned like a cozy room in your home. A large sturdy table and inviting chairs will create the feeling of an outdoor room. Select a table that's large enough for your family plus guests. Chairs should be comfortable for lounging and encourage family and friends to linger. Add extra pillows to dress up the seating areas. Choose fabrics, colors and patterns that will play with the color in your plants, creating the perfect backdrop for relaxation.

Accent Lighting

A well-decorated deck is only enjoyed when it is seen. As the sun sets, the stars appear and your guests begin to arrive, the ambiance becomes ideal for entertaining. Selecting the right accent lighting for your deck is necessary for safety, sight and overall aesthetics. A nice balance of lights on railings, stair risers, posts and along other deck bases will create a welcoming atmosphere after dark. "Lightscaping" is the way to go, and there are many options on the market for deck lighting, including solar lights and LED options. Have fun with your accent lighting selections, and highlight your perfect outdoor destination. The deck should be a place to enjoy solitude or the buzzing of friends and family during the day or evening hours.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Choosing School Districts and Schools

noreply@blogger.com (Brian Pingleton) — Thu, 12 Sep 2013 21:53:00 +0000

The neighborhoods you consider while house hunting may be determined, in part, by school districts and educational choices. If you'll be sending your children to public school, ratings and other assessment tools can help you judge the merit of the schools near you. If you're considering a private school, you may have to sort through programs with a wide range of philosophical backgrounds. Read on to learn about school ratings, types of schools and other factors to consider.

Finding Information About School Districts

School ratings and test score data can be found through your State Department of Education website. According to Project Appleseed, the National Campaign for Public School Improvement, "The [federal] No Child Left Behind legislation requires an annual school report card for all schools. School report cards describe characteristics of the school, including the number of children, various test scores, ratios of teachers to students, ethnic ratios, poverty levels, and more. Report cards can usually be obtained by contacting the department of education in the state or the school district office where the school is located."

If you're considering several regions at once, you can get State Education Data Profiles by accessing the National Center for Education Statistics website. To compare school districts in another way, visit GreatSchools.org to conduct a school search. GreatSchools, which is based in San Francisco, offers free information for parents all over the nation.

What to Consider when Choosing a School

When you look for information about a school district, you have a lot to consider. Not only should you look at test scores and class sizes, but you should also consider the particular needs of your child. Project Appleseed suggests that you should assess schools with these things in mind:

Your child's personality and learning style

Your family's values, budget, and needs

School philosophy and style of instruction

School facilities and personnel

School policies and schedules

The school's reputation in the community

Core curriculum and additional courses

The school's approach to safety

Family and community involvement

If your dream house turns up in a school district with poor school ratings, don't give up hope. It may be possible to get a geographic exception to send your child to a different school. While this may rule out traveling by school bus, it could be a good compromise if you need to be close to work or have other reasons for choosing a home in a less-than-ideal school district.

Transportation

How far will your child have to walk to reach school bus stops? This can be a serious concern in areas with cold winters or in rural areas, where bus stops may be far apart. According to the American School Bus Council, school buses are safer than cars and provide vital transportation to 26 million students every day. With 480,000 buses operating in the U.S. at any given time, there's a good chance your student will be riding one to school.

When assessing transportation options for your child, ask these questions:

Where is the nearest school bus stop?

How long will my child's commute last each day?

When will my child be picked up and dropped off? (You'll want to escort younger children to and from the stop for safety.)

Will bus routes change in inclement weather?

School Violence and Bullying

It's unfortunate, but parents need to consider more than academic ratings before putting an offer on a house. School violence can be difficult to judge. Online school rating websites can be helpful, as can phoning and asking for information on school violence from local school districts. Don't be afraid to ask tough questions; where your child goes to school can have a long-lasting effect on his life.

The National School Safety Center strives to advocate for "safe, secure, and peaceful schools worldwide as a catalyst for the prevention of school crime and violence." Their website offers school safety statistics and resources.

It's Only Your Child's Future!

Not to scare you, but the choices you make today will shape your child's future. All children deserve to learn in a safe, comfortable environment. You know your child best, and as you look for a house in a good school district, you'll need to keep his or her particular needs in mind. If you know your child will thrive in a big, bustling classroom or a quiet space for a small group, for instance, you can use that knowledge to go beyond the statistics. Talk to staff, see if you can tour some classrooms, and take the time to find a great school before you buy a home.

If you need help finding a school district or school near you, you can visit the U.S. Department of Education's website to search their comprehensive database. You can use their search tools to find public schools, private schools, and school districts all over the country. Their database includes facts like enrollment numbers, student demographics, teacher/student ratios, and school contact information.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Furnish Your Home For Less

noreply@blogger.com (Brian Pingleton) — Thu, 12 Sep 2013 21:51:00 +0000

Starting out with a "blank slate" can be both a blessing and a curse. The blessing comes if you have enough money to furnish your home with whatever you want from wherever you choose. Furnishing a home on a shoestring, though, takes creativity, an eye for a good value, and possibly some elbow grease.

While some discount stores, such as Ikea, sell inexpensive new furnishings, careful shoppers can find better quality for less money with used furnishings. Here are a few ideas for getting what you need at dramatically discounted prices.

Inspiration

Whether you are furnishing one room or a whole house, it's important to have an idea of how you want the room to look before you go shopping. Once you have the design in mind, it's easier to shop for the components.

Model homes in new home communities are great places to get decorating ideas. These homes are carefully decorated to appeal to a broad range of homebuyers' emotions. Color schemes, accessories, and furniture choice and placement all play to the shopper's emotions.

Interior design and decorating websites may also be good sources of inspiration. Check out Better Homes and Gardens, HGTV, Real Simple and Southern Living for budget project ideas to get your household furnished for less.

Used is Good

One of the hardest things to learn is how to look beyond the obvious wear and tear to the actual "bones" of used furniture. Look beyond the fact that the upholstery is ratty or the legs are scuffed – look at style.

If you like the lines of the coffee table, buy it. Scratches and dings are easy to fix. Hate the ugly green upholstery on the otherwise perfect Chesterfield-style sofa? Buy it. Have it recovered in a yummy fabric of your choice.

Once you've mastered the technique of not judging furniture by its cover, it's time to go shopping.

Garage and Estate Sales

Yes, there are differences between garage sales and estate sales. The latter is the disposition of goods of a person's estate. The garage sale, on the other hand, is the sale of a person's extra belongings or things they no longer need. Both sales offer used items, but estate sales typically have a better variety, and the items are usually in better condition.

Expect to pay more for estate sale items than garage sale items, and prices are typically not negotiable. In both cases you'll need to supply your own moving labor and transportation, so factor that cost into the cost of the items you want to purchase.

You can find garage and estate sales advertised on Craigslist, in newspaper classified ads, and by following directional signs in neighborhoods.

Consignment Stores

Furniture prices tend to be a bit higher in consignment stores than if you were to purchase the items directly from the owner's home, but you can occasionally find some bargains.

Thrift Stores

Salvation Army, Goodwill, Deseret Industries (in the western U.S.) and hospital auxiliary thrift stores are sources of deeply discounted used household items. Finding something decent is a bit challenging, but once in a while you'll find just the piece you've been searching for, so don't disregard these sources.

Online Shopping

Craigslist is the best online site for inexpensive home furnishings – mainly because it's local. The first place to navigate once you arrive on your local Craigslist page is the "For Sale" section, where you'll find a link named "Free." Everybody loves free, right? Within this category you'll see ads that are headlined: "Curb Alert." These ads contain free items that the owners place at their curb, available on a first-come, first-served basis.

Directly beneath the "Free" section is a link to the furniture section. Here you can find everything from new furniture to gently used designer pieces and ratty junk. Craigslist gives you the opportunity to search by owner or by dealer and to use keywords, which saves you from having to scroll through hundreds of ads for headboards when you're looking for a dining room table.

You may also want to peruse the "Household" and "Antique" sections, also located under "For Sale."

Another website where you can search for furniture is eBay. You can find some bargains here, but keep in mind that shipping charges may just destroy any savings you realize on the items themselves. One way around this is to click the down arrow next to "Sort." At the bottom of the list you'll find "Nearest First." Click on that link to re-sort items according to geographic location.

Etsy is an interesting website for perusing handmade items, such as artwork, containers, planters and pillows suitable for accessorizing.

Finally, join the freecycling group in your area at Freecycle.org. Membership is free, and so are all the items posted.

Shopping frugally allows you to make big, dramatic changes to your home décor without breaking the bank.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Retirement Planning: Will Owning a Home Help You Retire?

noreply@blogger.com (Brian Pingleton) — Thu, 12 Sep 2013 21:49:00 +0000

There was a time when nobody had doubts about the value of owning a home. It was considered an incredible long-term investment and ideal for retirement. Today we know that real estate isn't as safe as we once thought it was, at least as a short-term investment, and Americans, young and old, are leery of sinking their life savings into a home as an investment. Knowing this, will owning a home help you retire? That depends on a number of factors, including when you purchase the home.

If you buy the home in advance of retirement, when you have the time to build equity, then yes, the home may help you retire. If you are thinking of buying your first home in retirement, there could be problems.

Timing

Ideally, a home purchased to help you financially during retirement is one that will be paid off by the time you bring in the shingle. Unfortunately, that doesn't happen for many homeowners. Forbes.com claims that although almost half of Americans aged 50 to 70 say they plan on using their home's equity to fund their retirement, 37 percent of them are not anywhere near having their mortgages paid off.

That's OK, though, according to Sydney Lagier, former certified public accountant. "With interest rates so low right now," she says, "a mortgage can be an excellent hedge against inflation."

Lagier claims that inflation is expected to soar in the near future, eroding the worth of today's dollar. While this hurts those with savings and investments, it does the opposite with debt.

"A mortgage enables you to lock in today's home price, but pay for it with tomorrow's inflated dollars," Lagier claims.

If inflation is a concern, Lagier suggests taking the money that you would have used to pay off the mortgage prior to retirement and investing it in Treasury Inflation-Protected Securities.

Reverse Mortgage

If you have paid off the mortgage, or at least a significant chunk of it, pre-retirement, there's always the reverse mortgage to fall back on should you need to tap your equity. Of course, you won't realize as much as you would were you to sell the home, but it's "money you get to use while you are alive and pay back when you're dead," according to Lagier.

Offered to Americans 62 years of age or older, the reverse mortgage doesn't come without risks. Although you won't be making house payments, you'll still be required to keep up the property tax payments, HOA fees, and homeowners insurance. Default on any of those and you risk foreclosure. Which is why, according to Lagier, the reverse mortgage is considered a "loan of last resort."

Income Property

Many experts claim that the purchase of income property is a far better retirement investment than depending on being able to tap into your primary home's equity. This investment property could even be your retirement home, rented out until you stop working.

The best time to buy this home is at least five to 10 years before you retire, according to Michele Lerner in an Associated Press article. She also cautions about the risks you take in losing liquidity when you tie up your money in a second home.

The ideal candidate for this scenario is one who has built up an emergency cushion of at least one year's worth of expenses – both current expenses and those they'll take on with a second property.

Don't disregard other risks, such as the maintenance costs for two homes. Appliance and major system failures can be costly to remedy, and if you lack liquidity, they could be catastrophic.

Rent or Buy?

Whether to purchase or rent a home is a common question when folks near retirement. Since rents are rising 5 to 6 percent a year on average, and interest rates are still incredibly low, it appears on the surface that buying is a better option. Dig a little deeper, and it is even more apparent.

With a fixed-rate mortgage your monthly house payment won't change over the life of the loan. Rent? At least once a year or whenever the lease is up for renewal, you'll face a possible rent hike.

Whether or not owning a home will help you retire depends on variables such as your current financial situation, your investment portfolio, and how many years you plan on working. A good financial planner is your best source of information.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

5 Tips For The Best Home Showings

noreply@blogger.com (Brian Pingleton) — Thu, 12 Sep 2013 21:46:00 +0000

Home routines tend to come to a standstill while your home is on the market. The need to keep the house clean - and not scare potential homebuyers away - means that kids can't throw their school books on the dining room table, Dad has to pick up his stinky socks, and even the pets need to toe the line.

Keeping the house clean is a good first step toward presenting the home in the best light. But it isn't the only step.

1. Odors

Have you ever walked into a home and been immediately assaulted by nasty odors? Cigarettes, grease, cooking odors, diapers and pets all leave their mark on the way a home smells. While it's almost impossible to rid the home of cigarette smoke without painting, there are ways to get rid of other odors.

Have the carpets professionally cleaned and deodorized.

Launder or dry-clean all curtains and drapes.

Consider having your upholstered furniture professionally cleaned.

Clean the grease from the range hood.

Keep the dog bathed and groomed to keep doggy smells at bay.

Place dishes of potpourri or scented candles in random areas throughout the home.

2. Sounds

Like the smell of a favorite perfume, we become habituated to certain things, including sounds. If you've ever lived under a flight path or next to railroad tracks, you understand how quickly one can get used to annoying sounds and not even hear them after a while. Strangers in your home, such as potential buyers, will hear the yappy dog next door, however, so here are some tips to mask the noises in your home.

Play some music, softly, while the home is being shown.

Invest in a white noise machine.

Play a sound-effects CD softly in the background.

3. Sights

Light and bright are the operative words when considering the ideal way to present your home to buyers.

Change all the light bulbs in the home to higher wattage bulbs. Leave the lights on for showings, including closet lights.

Paint the walls. If you can't paint, clean the walls.

Remove heavy drapes and replace them with lightweight fabric that allows natural light into the home.

Don't neglect the outside of the house. Before a showing, make sure that the planting beds look clean and attractive and that the lawn is mowed.

4. Set the Scene

If you've ever toured model homes, you are familiar with the concept of staging – the art of carefully crafting interiors that appeal to homebuyers. If you're on a tight budget and can't afford a professional designer, make some simple changes that appeal to buyers.

Create vignettes throughout the home. Set the dining room table with attractive dinnerware or create a cozy nook in the bedroom with a small table and chairs. Group items in threes, use different heights, and keep it simple.

Fresh flowers add so much to a home, from masking odors to adding pops of color and texture. A gorgeous bouquet on the dining room table can take the place of a fussy centerpiece. Night stands are ideal places to set small vases of flowers.

Bathrooms are important, so pay close attention to how you stage yours. Get rid of the countertop clutter and add fluffy towels and a new shower curtain.

5. Security

Since sellers should make themselves scarce when the home is being shown, it's important to take security measures. Lock up or remove valuables, weapons, prescription drugs and money.

Don't leave personal items - especially paperwork with your financial information - lying around in plain sight.

Whatever you can do to make your home appear move-in ready will appeal to buyers. Tour some new home communities for more ideas and inspiration so that your home shows like a model.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Kitchen Redecorating on a Budget

noreply@blogger.com (Brian Pingleton) — Thu, 12 Sep 2013 21:37:00 +0000

Although many claim that they're willing to undertake minimal cosmetic fixes, the typical homebuyer wants a home that is move-in ready. Two rooms in particular are important to them: the bathroom and the kitchen. Outdated, worn and unattractive kitchens and bathrooms drag down the value of the home and may make it harder to sell.

Pressing the buyer's kitchen "hot button" may not necessarily require a complete remodel of the room, but merely a freshening up. Even the smallest of budgets can provide some attractive updates to everyone's favorite room.

Paint Dramatically Transforms the Kitchen

When redecorating any room, fresh paint on the walls is the best place to start. Paint adds an instant transformation, and, depending on the color, can make a room appear larger. It also provides you with a base color on which to build the rest of the kitchen's color scheme.

Most real estate staging experts caution homeowners to use neutral paint colors to provide a broader appeal. One designer, however, claims that green is the new neutral color on which to build your color palette.

Benjamin Moore, on the other hand, claims that Lemon Sorbet is the trendy color of the year. If you're confused, play it safe and use Sherwin-Williams "color visualizer," which allows you to actually picture the paint color before you slap it on the walls.

Update Your Kitchen Cabinet Hardware

If you're lucky enough to have attractive kitchen cabinets that don't require painting or refinishing, replacing the hardware may be all that's needed to give them an updated look.

Home improvement stores offer the kitchen-decorator a mind-boggling array of hardware for your kitchen cabinets. From stainless steel to hand-forged pewter, there's a handle or knob to match any kitchen decor.

Accessorize to Add the Final Touch

Kitchen accessories include not only the decorative, but the functional as well.

Let's start with the decorative: New throw rugs, window coverings and linens that compliment your new wall color will tie the room into a cohesive whole.

Artwork isn't something a lot of people think about when decorating the kitchen. Be on the lookout for interesting pieces, such as plates, tapestries and sconces.

Lighting is not only necessary but can add a distinctive decorative touch. When creating House Beautiful's Kitchen of the Year, designer Robert Stillin used table lamps on the kitchen counters to soften the "laboratory" feel of the kitchen.

Under-counter lights add a soft glow, while sleek track lighting is a must for an industrial-style kitchen.

Add a new kitchen faucet that coordinates and compliments the new décor. Try to match the finish to the new cabinetry hardware to pull the room together. Again, your local home improvement store offers an array of faucets.

Stuck for ideas? Model homes are staged to sell, so if there's a new home community nearby, take a tour of the models and bring your camera to photograph kitchen ideas that you'd like to replicate.

Eyes from a Realtor

"Kitchens are extremely important in today's market. If there's potential you might sell your home after you redecorate, say within a year or two, you might want to weigh the costs of the project with the current market value." Brian Pingleton, a Tulsa Realtor with Keller Williams, can offer many options when it comes to a homeowner who wants to redecorate but also consider return of their investment. He has some helpful insights when it comes to helping owners get the most out of their home value. "Trends are also something to consider, and it might mean the difference of having your home on the market for 30 days, or, 3 months and longer.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

The Real Estate Transaction: What Could Possibly Go Wrong?

noreply@blogger.com (Brian Pingleton) — Fri, 03 May 2013 15:08:00 +0000

"Anything that can go wrong will go wrong." While Edward Murphy was referring to the use of new measurement devices, his rule can be aptly applied to the real estate transaction without a hiccup.

From the very first step – getting preapproved for a mortgage – to choosing a real estate agent to the close of escrow, the process is full of pitfalls.

If you're considering the purchase or sale of a home, it's a good idea to know what could go wrong during the process. While some problems are hard to anticipate, others happen with enough frequency that they offer lessons, allowing you to become informed and, hopefully, help you to avoid some of the biggest problems.

Choosing a Real Estate Agent

Your real estate agent is the driver of the transaction. As such, he or she will steer the transaction around common roadblocks and avoid certain pitfalls. That is, if you choose the right agent.

What happens if you don't? Several things:

Your house may not be priced properly.
Your house may sit on the market longer than it should.
If you're buying, you may end up paying more than you should.
A complicated transaction, such as a short sale, may have details that are allowed to fall through the cracks.

Avoid these potential problems by hiring an experienced real estate agent. When selling your home, your first concern is getting the most money for the home. An agent familiar with the area is much better able to determine market value than one from outside the area.

An agent with proven marketing capabilities will get your house in front of more buyers than an agent who hasn't a clue about marketing. If you own a specialized home, such as a luxury home or beachfront property, or you are performing a short sale, you need an agent experienced in these types of sales.

When purchasing a home, you need a savvy negotiator in your corner - an agent who can go to bat for you and get you the best possible price on the home.

Counteroffers

The offer to purchase is a document full of potential pitfalls. Some of these include:

Price.
Insufficient earnest money.
Inappropriate closing date.
Requests for personal property.
The buyer isn't preapproved for a mortgage.
Requests for repairs or allowances.

Of course, there are many, many more, but these are some of the most common. These problems are typically addressed via a counteroffer. This document says to the other party, "I accept the offer as long as the following conditions are met." This is the nuts and bolts of negotiating, and it's fraught with perils.

If you've done a good job of carefully selecting your real estate agent, this is the time to rely on him or her for advice. The decisions are ultimately yours to make, but expert advice should be considered.

Home Inspection

The home inspection presents another opportunity for a deal to fall apart. Home repairs can be costly. Some can make you want to walk away from the deal. If you decide to remain engaged in the process, you'll need your old friend the counteroffer to request repairs or a reduction in the price of the home to allow for the cost of repairs.

Appraisal

When markets change rapidly, appraisals become more challenging. When home prices began to stabilize after the latest recession, for instance, appraisers had nothing to base home values on but the depressed recession prices. Foreclosures particularly drag down values, and many homes aren't appraising for as much as homeowners and their agents expect them to.

If you're the seller or buyer of a home that doesn't appraise for the purchase price, your options include:

Reducing the price.
Raising the amount of the down payment.
Challenging the appraisal.
Walking away from the deal.

Closing

Lots of things can go wrong at closing. Some of the most common events are:

The lender pulls a soft credit report and finds that the buyer has made some large purchases, changing his income-to-debt ratio to the point where he no longer qualifies for the mortgage.

Your paperwork is delayed by the lender and your attorney pushes the closing to another day.

The funds don't arrive.

One of the parties is unhappy with the information on the HUD-1.

Not every real estate transaction has problems. In fact, most sail along smoothly. While it's hard to hold your excitement in check, the best time to let it loose is when your agent hands you the keys to your new home.

For More Info

To find out more about real estate transactions, or if you're interested in taking the next step toward selling your home or buying a new one, contact Tulsa Realtor, Brian Pingleton. He has the knowledge, experience, and resources to help you in every facet of real estate.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Applying for a Mortgage? Avoid These Common Mistakes

noreply@blogger.com (Brian Pingleton) — Wed, 24 Apr 2013 20:41:00 +0000

If you're a first-time buyer, an itch to start looking at homes typically starts just after you make the decision to buy. The feeling may be so overwhelming that it's the very first thing you do. That's mistake number one: Looking at homes without knowing how much you can spend on a home isn't just a mistake, it's silly.

So, how do you know how much you can spend? By visiting a lender and getting preapproved for a mortgage. Sure, it's not as exciting as actually looking at houses, but it's the first step in a process that, if not followed, presents plenty of potential pitfalls that may make it impossible for you to purchase a home.

Before you put pen to paper, though, signing away a big chunk of your salary for the next 30 years, do yourself a favor and prepare.

Check Your Credit

Did you know that up to 79 percent of Americans' credit reports contain errors? Twenty-five percent of credit reports contain errors that may result in the denial of credit, according to the U.S. Federal Reserve. That's why it is so important that you check yours before setting foot into a lender's office.

Everyone is entitled to a free copy of his or her credit report once a year. Get yours at AnnualCreditReport.com, the only source authorized by the Federal Trade Commission to provide the free credit reports.

Fix any issues on your report before applying for a mortgage.

Tell the Truth

Not too long ago lenders were busily providing what have come to be known as "liar loans." These were mortgage loans to people who couldn't afford them and were obtained by means of a "no document" process, meaning the applicant didn't have to prove his or her income or verify assets.

Those days are over, and obtaining credit is nowhere near as easy as it once was. Although you may be tempted to stretch the truth on your application to ensure you get the loan, don't give in to the temptation. The lender may dig up the truth, and you will be denied the loan.

Turn Down the Job Offer

One of the first things the lender will look at is your employment history. They want to see a minimum of two years with your employer or in your current field. While switching employers during the loan application process may not derail the loan, it will most likely delay the process while the new employment and salary are verified.

Don't Make Major Purchases

House hunting is exciting and shopping for the new house is probably top-of-mind. Don't do it.

The lender may run what is known as a "soft pull" of your credit just prior to closing escrow. If, for some reason, the closing is delayed beyond 30 days, you can almost count on the lender pulling your credit again.

If new debt is high enough to change your debt-to-income ratio, you may no longer qualify for the mortgage. So keep the credit cards safely tucked away in your wallet until after escrow closes.

The loan application process isn't nearly as glamorous and exciting as touring homes and shopping to outfit the new home, but it's the most important step in the process. Don't make any major financial or life changes between applying for the loan and closing escrow, and you should have no problems.

Consider Local Experts

There are so many options to choose from when it comes to lenders, and everyone has their own situation to consider. Sometimes working with a loan officer or lending company who is just down the street might help you avoid potential frustrating communication scenarios. For a list of local lending options, contact Brian Pingleton, a Realtor with Keller Williams in Tulsa, and he will direct you to some choices that his clients have considered excellent in handling their transaction.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

How to Stage a Vacant House

noreply@blogger.com (Brian Pingleton) — Wed, 24 Apr 2013 20:36:00 +0000

Most homeowners learn about the value of staging their homes for sale from their real estate agents. The statistics are clear: Staged homes sell quicker and for more money.

What happens when you don't live in the home? If you've used it as a rental or had to move to the new home before putting your current home on the market, you're stuck with a vacant home for sale. The average homebuyer doesn't have the ability to look at empty rooms and realize their potential, according to Kiki Wanshura, regional sales manager at Obeo, a virtual tour and marketing solutions company in Utah.

When confronted with the need to market a vacant home, the homeowner has several options.

Hire a Professional Home Stager

Think back to the last time you were in a model home. Everything was perfect: the furnishings, accessories and color palette. Model homes are carefully staged to emotionally appeal to buyers. This is one reason so many new-home buyers overspend on upgrades – trying to get their home as close to the model as possible.

Hiring a professional stager to stage an entire house may cost from $2,000 to $5,000, depending on where you live and the size of the home.

Stage the Home Yourself

A less expensive alternative to hiring a professional stager is to do it yourself. Most large cities have furniture rental companies where you can rent a sofa and end tables or enough furniture to fill an entire house. Use large moving boxes as beds. When covered with a comforter or quilt and lots of fluffy pillows, unless someone touches it, nobody will know it's not a real bed.

Purchase accent pieces from thrift stores, garage sales or online, such as at Craigslist or eBay. Hang a shower curtain and some towels in the bathroom, and place a few decorative items on the kitchen counter.

Model homes are good sources of ideas, or go online and look at some home decorating sites for inspiration.

Virtual Staging

What would you say if I told you that you could stage your vacant home, even replace the flooring and paint the walls for a couple hundred dollars? With virtual staging, you can do all that and more.

Virtual staging is a relatively new concept that is catching on all over the country. Virtual staging professionals work off of photographs of the rooms and add furniture and accessories from their digital warehouse.

Although the house won't look the same in person as it did online, virtual staging captures the buyer's attention at that important stage when they're looking at homes online. It's important to let buyers know that the photo they're viewing online has been virtually enhanced to avoid giving them the impression that they're being deceived.

The cost of virtual staging may run as high as $100 per photograph, according to Kim Palmer of the Star Tribune.

Hire a Home Manager

Nothing gives a home that lived-in look as much as when someone actually lives in it, with food in the refrigerator and clothes hanging in the closets. And there are now businesses that can help home sellers achieve this look. For example, Showhomes is a nationwide home staging service that provides what they call "resident managers" to live in vacant homes while they're on the market.

The managers are meticulously screened and most bring their own furniture and accessories. Best of all, rather than the homeowner paying for utilities on the empty home, the resident manager pays them. Showhomes purchases the additional homeowner insurance required.

Hiring a professional tenant is not for everyone. Showhomes, in fact, only supplies its services to homeowners whose homes are listed at $500,000 or more. They charge a staging fee of anywhere from $1,000 to $3,000 and, at closing, the homeowner pays .25 percent to 1 percent of the list price to the company. Since Showhomes is a franchise, some pricing structures may differ by region.

"On a million-dollar home, we would typically charge a $2,500 setup fee and a $5,000 success fee if and when the home sold, paid at closing," Thom Scott, director of operations for Showhomes tells the Daily Breeze. "If we didn't succeed in producing a sale, the homeowner would only pay the setup fee."

Hire a Local Expert

Some Realtors actually provides similar services at a reduced rate when using them to list your home. Brian Pingleton of Keller Williams in Tulsa is one such agent. He offers incredible opportunities to for sellers, such as help with staging on a budget, organizational techniques, increasing curb appeal, and more. "The whole idea is for a potential buyer to see the home not as the current seller does, but how the buyer sees the property in their own mind, using their own furniture and decor. Homes that are staged well generally sell faster and for more money. If that's important to a seller, they could be losing money by not taking some simple steps for preparation, especially since it is generally inexpensive and quick to do."

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Quick Guide for Starting Vegetable Gardens

noreply@blogger.com (Brian Pingleton) — Thu, 14 Mar 2013 16:48:00 +0000

So, you purchased a home, started a home garden,and now you're ready for the next step: growing food. Not only is vegetable gardening a fun way to reduce your grocery bills, many edible plants are also ornamental. If you think a veggie patch has to be unattractive, think again.

If you're just starting out, you might want to start with a small space dedicated to vegetables. Keep in mind, though, that well-designed vegetable gardens can produce 600 to 700 pounds of produce per year per 1,000 square feet, according to the University of Kentucky's Agricultural Department.

Even with much less space, vegetable gardens can produce an abundance of food. Because 1,000 square feet is about the size of five parking spaces, even in the space it takes to park one car, more than 100 pounds of various vegetables can be grown.

Planning a Vegetable Garden

A garden plot should have well-drained, good soil. Vegetables need at least six hours of sun per day. If dogs, cats, deer or rabbits could be a nuisance, protect the plot with a fence. The size of your vegetable garden should reflect not only the amount of space you have to work with, but also the amount of time you're willing to spend working on it.

When planning what vegetables to plant, grow only those foods your family will eat. Plan in advance for the space a full-grown plant will require and avoid overcrowding by providing trellises to support tomatoes, pole beans, squash and cucumbers.

Taller vegetables, such as corn and artichokes, should be planted toward the rear of the garden to maximize sunlight for all plants. Permanent vegetables such as asparagus and rhubarb can occupy one side of a garden where they will not interfere with tilling.

Vegetable rows are more productive when they're as long and continuous as possible. This allows for the best tillage and less soil compaction, giving the roots more room to breathe.

Vegetables that grow quickly - such as lettuce, spinach, radishes, beets and carrots - can be planted in multiple crops throughout spring and summer for continuous edibles.

Raised-Bed Gardening

Raised beds give the gardener the option of planting vegetables in places with poor soil quality or poor drainage. One advantage of having a raised bed vegetable gardenis that the beds warm more quickly in the spring, lengthening the growing season. Also, because you don't step onto the soil in a raised bed, the soil doesn't get so compacted and less tilling is involved.

Raised beds can be of any size and design. They can be constructed of many things including wood, bricks, concrete blocks or even corrugated galvanized steel, and can be filled with quality soil and compost. Because raised beds drain more efficiently, they may require more frequent watering.

Container Vegetable Gardening

Not everyone has a handy backyard plot. Apartment balconies or patios and even windowsills are ideal places to grow vegetables, too, because nearly all vegetables can be grown in containers. Vegetables prefer at least six hours of sunlight a day, and plants such as tomatoes, eggplant, cucumbers and peppers need the most sunlight. Leafy vegetables, such as lettuce, spinach, cabbage and parsley can tolerate more shade.

Most vegetables will do well with 6 to 8 inches of potting soil, although root vegetables - such as beets, carrots and radishes - need deeper soil. Container vegetable gardening requires more frequent watering and fertilizer use than ground-grown vegetable gardening. If you opt for containers, be sure to check soil moisture daily.

Classes of Vegetables

When starting vegetable gardens, it helps to have an understanding of what different plants need. Here we list different classes of vegetables along with a few tips to help you get started.

Root Crops: Cool-weather plants such as beets, carrots and parsnips can be sown early, even before light frosts end.

Alliaceous Group: Onions, leeks and garlic are also hardy, cool-weather plants. They also can be sown early because they can withstand frost and cool weather.

Brassicaceae Group: This cool-weather group consists of plants such as cabbage, kale, broccoli and cauliflower. In warmer climates, cabbage and kale can be started in the fall and harvested the next spring before the weather gets hot. In cooler climates, better results come from starting these plants in a hotbed or greenhouse starting in February. They can be transplanted in May or June.

Solanaceous Group: This group includes the popular tomato, eggplant and red pepper. These vegetable plants do not tolerate frost and need longer seasons. They should be started early under glass and transplanted when the danger of frost is past.

Cucurbitaceous Group: Cucumber, melon, squash and pumpkin are in this group. They do not tolerate frost and should not be planted until the threat of frost is past.

Leguminous Crops: Vegetable plants in this group include peas and beans. They differ from each other significantly, though. Beans are warm-weather vegetables. Bean seeds need to be planted when soil is warm and dry to keep them from rotting. Peas are cool-weather vegetables and are among the earliest vegetables to be planted.

Salad Plants and Pot Herbs (or Greens): Leafy vegetables make up this group. They should receive plenty of water. Almost all vegetables of this type will be sown in the spring. Most are cool-weather plants.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Timeshares 101

noreply@blogger.com (Brian Pingleton) — Thu, 28 Feb 2013 15:33:00 +0000

"Timeshare" used to be a dirty word, and it still leaves a bad taste in many mouths. Say the word to some folks and they begin conjuring up images of a group of people who could make used car salespeople look like amateurs.

Time has changed the timeshare industry, softened its edges and blurred its old, shyster image.

What is a Timeshare?

The word "timeshare" describes a person's right to use a vacation property during a specified block of time each year. The property is typically a condo in a resort complex and your access may be as part owner or on a lease-type basis, depending on the contract. Timeshare units typically feature "at-home" amenities, such as fully furnished kitchens and laundry rooms, and they range in size from studios to multi-bedroom units.

Types of Timeshares

Timeshare companies offer variations when it comes to access. The different programs include:

The choice of vacationing the same week each year.
A more flexible plan wherein you reserve the particular time slot you want on an annual basis.
Choosing a different location every year.

Advantages of Owning a Timeshare

The biggest advantage of a timeshare over a traditional vacation home is that you pay only for the time you use it. Other advantages include:

Maintenance: There is none. Your maintenance fee pays for all the upkeep.

Ease of planning: When you own a timeshare, you always know when you'll be vacationing and where.

Vacations are less expensive: When you use the property's kitchen, you'll save the money that you would have otherwise spent eating in restaurants.

Flexibility: Use the timeshare company's exchange program to swap locations with other owners. This way you can visit a new place each time you vacation.

Disadvantages of Owning a Timeshare

Fees: Timeshare maintenance fees can run up to $500 a month and frequently rise 4 percent every year.

Value: Timeshares don't hold their resale value like traditional residential real estate purchases.

Financial: Paying upfront for your vacation and paying fees on time may be challenging in a bad economy.

Trading with others: To trade vacations with other timeshare owners you'll need an attractive location and time period. If you don't, you may find it impossible to locate someone willing to trade with you.

What to Consider When Shopping for a Timeshare

Timeshare sales people are really good at what they do. They may offer you a free night at the resort, and all you have to do is attend their tour or presentation. The pressure to buy is subtle yet high. Resist their urgency and resist the temptation to buy immediately because it's a "limited-time offer." Think before you sign on the dotted line. The Federal Trade Commission suggests that you consider the following:

Ask questions. While the salespeople should be able to answer your questions, talk to current owners as well. How often do the maintenance fees increase? Are there supplemental fees that you need to know about? How well managed is the resort?

Check the timeshare company's record with the Better Business Bureau and the attorney general of the state in which it's located.

Have your attorney go over the contract before you sign it.

Remember that the cost of the timeshare is higher than the amount offered by the salesperson. Add to that figure the interest, taxes and maintenance fees. Oh, and don't forget to factor in the cost of airfare to and from your timeshare.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Safety for Children: A Homebuyer's Guide to Kids' Rooms and Play Areas

noreply@blogger.com (Brian Pingleton) — Wed, 13 Feb 2013 00:31:00 +0000

Children alter how families look at homes during the home buying process. A family with children has to consider extra bedrooms, extra bathrooms, and safe places for children to learn and play. Indoor and outdoor recreation should be fun and comfortable, while safety should always remain the highest priority.

Kids' Rooms

Kids' rooms should be large enough for children to grow in. A tiny room may work for a 6-year-old, but could be terribly cramped for a teenager. Kid's rooms should include the following:

Room to grow
Accessibility
Storage space
A safe exit for emergencies

Families generally want kids' rooms on the same level of the house as the master bedroom. While a teenager might accept, or even want, a basement bedroom, small children's rooms should be close enough for you to access them quickly at night.

Consider the amenities you want in kids' rooms. Bookcases, closet organizers, and other storage space can be a real asset. Some solutions can be added after the home is purchased, but a house with built-in storage can be a plus.

Safety is also a consideration: In case of fire or similar emergency, you'll want to make sure that your children will be able to safely escape their bedrooms. Children's Hospital Boston reports that "over half of children ages five and under who die from home fires are asleep at the time of the fire," but also that "children in homes without working smoke alarms are at greater risk of fire-related death and injury in the event of a fire." This means that you should consider several fire escape routes when looking at the bedroom configuration in your prospective home, but you should also carefully assess the number, location, and condition of smoke detectors in your home no matter where the children will sleep.

Family Rooms and Dens

A home with a family room and a separate, more formal living room will let you relax while the kids are watching shows or host guests while your kids enjoy a minefield of Legos® on the floor in the adjacent room. When the children grow older, the toys can be picked up and the family room can become a place for study, arts and crafts, or hanging out with friends. A den can become a home fitness center, a library, or a guest room when your children fly the coop.

Play Sets and Play Areas

Outdoor playsets and play areas can be real bonuses when families with children go house hunting, but always keep safety in mind. Playgrounds and play areas are only an advantage if they are safe areas for children. While your kids may be delighted by a ramshackle tree house, your first thought should be whether or not it's safe.

Generally speaking, store-bought playsets are safer than DIY play areas slapped together by an inexperienced handyman. Having said that, some amateur-built jungle gyms are well thought-out, inventive, beautifully-constructed, and safe enough for children to use. The U.S. Consumer Product Safety Commission (CPSC) publishes a broad variety of safety information on playground construction, materials, and components.

When building or buying a play structure, think about its placement in relation to your home and the street. Constant supervision is important whenever children play, so make sure the space is visible from where you plan to spend time. The National Program for Playground Safety also recommends watching out for age-inappropriate equipment, hard surfaces, poorly-maintained equipment, and protuberances where children can become trapped.

Swimming Pools

At first glance, a swimming pool seems like a great idea for families with children - it sounds great to have pool parties or just cool off on a hot day. Take a step back, however, and consider swimming pool safety.

According to the U.S. Consumer Product Safety Commission, approximately 350 children under the age of five drown every year in swimming pools - more than three times as many as drown in all other areas of the home (like bathtubs, hot tubs, landscape ponds, and other water containers). A swimming pool safety cover is essential for a backyard pool, but it isn't enough. Many other precautions are recommended to make swimming pools safe places for children:

Constant parental supervision
Door alarms
Safety fences
Underwater motion detectors
Even all of these safety precautions don't completely guarantee your child's safety around swimming pools. Many parents decide the allure of a swimming pool isn't worth the safety issues. Those parents who do purchase a home with a swimming pool must commit to enclosing the pool securely and remaining vigilant as long as they have children in the home.

Safety, Comfort and Growing Room

Family homes should be safe and comfortable. While children do need practical and fun spaces to relax, play, and grow, parents should also consider safety when looking for the place that their children will call home. If you're shopping for a home for your young children, think ahead to what they'll need when they're in high school. If your family might grow, think about whether you need extra space now or whether you can plan for a future addition. Consider whether the pool, playground, or tree house you're looking at is more likely to enrich your children's lives or endanger them. When you look at potential homes with your kids in mind, you can choose a home that offers the promise of a safe and enjoyable childhood.

*** Contact the only Realtor you will ever need, visit TulsaHomeGuru.