Improve or Move?

Although the economy has shown signs of improvement, many homeowners are choosing to improve their home rather than move. By doing so, when the economy changes they will have increased the value of their home and will be able to sell it at that point. There are many ways to improve your home and add value, including: repairing and replacing your roof, repainting the interior and exterior of your home, installing energy efficient products, providing curb appeal through landscaping, upgrading fixtures, and doing basic maintenance and pest control.

• Repairing or Replacing Your Roof- Make sure that you keep your roof in good repair and when needed, replace it. Check with your roofing professional to see if you need a new roof, have venting problems, have loose shingles, or have any other roofing issues that are in need of repair.
• Repainting- repainting your home not only helps maintain the property but it is also appealing to buyers when you decide to sell. Keep neutral colors in mind, however, so that it will be appealing to a large number of buyers.
• Installing Energy Efficient Products- replace old windows, appliances, hot water heaters, and heating and a/c units with newer energy star rated ones. This will help decrease your energy bills and will be attractive to buyers.
• Providing Curb Appeal through Landscaping- make sure that your landscaping is attractive to buyers. An attractive exterior can help ensure that buyers will at least take a peak inside. Also remember to provide landscaping that will look good in every season.
• Upgrading Fixtures- this is an easy and often inexpensive way to improve your home. Replace doorknobs, cabinet pulls, light fixtures, and plumbing fixtures for newer ones.
• Doing Basic Maintenance and Pest Control- this is one of the best ways to improve your property and prevent buyers from walking out the door. Many buyers simply don't want a "fixer upper" or problems with pests. They want it move in ready. Simple home maintenance and pest control will keep buyers interested and will help prevent more expensive repairs later.

Remember, if you don't have the time or skill, hire a professional to do needed improvements and repairs. A poor repair job won't attract buyers when you decide to sell. Check our the professionals listed below or visit www.tulsahomemaintenance.com for a complete list of professionals. Should you decide to move, visit www.homeguidetulsa.com for tips on buying and selling and to search for homes for sale in the Tulsa, OK. area.

Roof Repair or Replacement in Tulsa, OK.- Judy Smith of Abest Roofing at 918-587-1426 or www.abestroofing.com.

Pest control in the Tulsa, Oklahoma Area- Duane Montgomery, Montgomery Exterminating at 918-438-4885 or www.montgomeryexterminating.com.

Tulsa, OK. Area Heating and Air Conditioning- Stephen Taylor at Air Assurance at 918-258-HEAT or www.airassurance.com.

Tulsa Mortgage Needs- Steve Currington, Currington Mortgage, 918-394-5626 or www.curringtonmortgage.com

To buy or sell Tulsa, OK. Real Estate- Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com.

Tulsa, OK. Plumbing Installation and Repair- Markwayne Mullin, Mullin Plumbing, 918-606-0925 or www.mullinplumbing.com.

Tulsa, OK. Floorcovering- Jim Ecrette, ProSource Floorcoverings, 918-252-7711 or www.prosourcefloors.com/tulsa *Ask for Darryl Baskin's wholesale pricing

Junk Removal in Tulsa, OK.- David Tittle, I/Haul, 918-261-4008 or www.ihaulusa.com

Tulsa, OK. Glass Mulch- Leigh Murray, Garden Glass, 918-232-0210 or www.gardenglassofoklahoma.com

Tulsa, OK. Homes Are Selling in Less Than 2 Months!

According to Realtor Magazine (Daily News, May 25, 2011), homes are on the market an average of 95 days. This is up 13% when compared to the same period last year. Homes in Tulsa, OK. sell in an average of 58 days. Read the whole article, "Where Homes Are Selling in 2 Months Or Less", below for more information.

Nationally, homes spent 95 days on the market in April, which is up 13 percent year-over-year, according to April housing data from Realtor.com of 146 markets.

But in a few markets, the median age of inventory of homes for sale was less than 60 days.

Here are the fastest-selling cities from April:

Denver
Median days on the market: 44 days
Median list price: $249,900

Oakland, Calif.
Median days on the market: 44 days
Median list price: $319,950

San Francisco
Median days on the market: 54 days
Median list price: $645,000

Washington, D.C.-Md.-Va.
Median days on the market: 57 days
Median list price: $369,900

Tulsa, Okla.
Median days on the market: 58 days
Median list price: $149,900

Bakersfield, Calif.
Median days on the market: 58 days
Median list price: $135,000

San Jose, Calif.
Median days on the market: 59 days
Median list price: $480,000

Fresno, Calif.
Median days on the market: 59 days
Median list price: $160,000

Omaha, Neb.
Median days on the market: 59 days
Median list price: $152,725

And where were homes spending the longest number of days on the market? Savannah, Ga., where the median days on the market in April was 198 days, according to Realtor.com housing data.

For your Tulsa, OK. real estate needs, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

American Housing Reform

The National Association of Realtors has concerns about reforms that might be considered in America's Housing Finance Market. The National Association of Realtors believe that reform must must include these factors more thoughtfulness and transparency. One concern of the NAR include the elimination of government-sponsored enterprises. They are also concerned in the amount of transparency and accountability in the secondary mortgage market. Read on for the full article, "Affordable, Reliably Home Financing is Priority" at Realtor Magazine (May 2011).

Reforms to America’s housing finance market must ensure a reliable source of affordable mortgage lending for creditworthy consumers. That’s according to REALTORS® and other industry insiders who examined the federal government’s future role in the secondary mortgage market at a session called “Fannie Mae & Freddie Mac: Obama Options and Beyond” at the NATIONAL ASSOCIATION OF REALTORS® 2011 Midyear Legislative Meetings & Trade Expo in Washington, D.C.

Steve Brown, 2011 NAR first vice-president nominee, opened the session by outlining NAR’s position for reforming the government-sponsored enterprises (GSEs), saying that reform is required, taxpayers must be protected from losses, and the federal government must continue to play a role in the secondary mortgage market to ensure a steady flow of mortgage liquidity in all markets under all economic conditions.

Reform Must Be Thoughtful

“As the leading advocate for home owners, NAR is concerned that eliminating the GSEs without a viable replacement is not a reasonable option and will severely restrict mortgage capital and result in higher fees and costs for qualified borrowers,” said Brown. “Reform of the secondary mortgage market needs to be comprehensive and undertaken methodically.”

James Parrot, senior advisor for housing at the National Economic Council in Washington, D.C., overviewed the Obama administration’s recommendations for reforming the GSEs in the wake of the financial crisis, which included varying levels of government backing. He noted the primary objective of the proposals was twofold: first, to lay out an immediate near-term path for reform, with steps that could be taken the next few years to reduce taxpayer risk and move the housing market to more stable footing, and second, to frame the discussion regarding the government’s long-term role in housing finance.

“The government’s large presence in the housing finance is unhealthy and needs to be scaled back; however, the steps we take over next few years to reduce the government’s role and increase private capital will have a tremendous impact on the housing market and economy as well as the availability and affordability of mortgages,” said Parrot. “The objective isn’t to turn away from housing, but to make the housing finance market stronger so that families and their most important asset are better protected,” said Parrot.

More Transparency Needed

Panelist Susan Wachter, a professor at The Wharton School, University of Pennsylvania, agreed that private capital needs to return to the housing finance market, but that most likely won’t happen until the market has stabilized.

“There needs to be more accountability and transparency in the secondary mortgage market so that private investors can best assess their risk and safely get back into the market,” she said.

Mark Calabria, director of Financial Regulation Studies at the Cato Institute, argued for a very limited government role in the secondary mortgage market; saying that the private capital market has the funds and capacity to absorb Fannie Mae and Freddie Mac’s market share. He said that increased government support in the past few decades has only slightly increased America’s home ownership rate and that rates in other countries are higher despite their government’s limited involvement.

Despite his opposing viewpoint to the level of involvement, Calabria did acknowledge that some government backstop was essential in the future, since the housing and finance markets are sensitive to booms and busts.

David Katkov, executive vice president and chief business officer at The PMI Group, countered that it would be naïve to move to a purely private market because it’s been successful in other countries, adding that the U.S.’s housing finance system dwarfs that of other countries and is far more complex.

Ann Grochala, vice president at the Independent Community Bankers of America also shared concerns for small lenders and community bankers in a purely private market, where competition from large lenders would be great.

Source: NAR

For Tulsa, OK. Real Estate, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.