How are Oklahoma real estate matters resolved in court!

There are different types of cases and courts in which a real estate related matter can be heard. When it comes to real estate, there could be issues related to property lines, ownership, title problems, failure to declare previous issues in a disclosure statement or much more. Here are several types of issues that could arise and how they are generally handled.

In small claims court, the case is usually over things with a value of less than $6000. Many times in small claims court people are unrepresented when it comes to a small dispute over less than $6000 or disputes over a renter and landlord. Cases like these are usually heard by the judge within 30 days and are decided the day of the court hearing. For an eviction, you give notice to a tenant and have it posted. If they don't respond or pay you the debt they owe, you file a petition at the courthouse with appropriate information. It is filed and you pay a small fee and they send a notice out. You are usually given a court date within 30 days. If you are a renter and the landlord's property (where you live) is involved in a foreclosure, there are several things that can happen. Sometimes even if you are in the right, you may still lose any prepaid money.

For more information on legal matter involving Tulsa OK real estate, contact David Keesling with Richardson, Richardson, Boudreaux at 918-492-7674 or www.rrblawok.com.

Need Tulsa, OK title insurance? Contact Ann Rollins of Closings of Tulsa at 918-493-2241 or www.closingsoftulsa.com.

Prevent legal issues due to lack of insurance coverage. For Tulsa, OK insurance, contact Mike Tedford of Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.

Is it difficult to get an Oklahoma home mortgage?

In the real estate business, it seems as if we are always hearing people, even Realtors, say that it is difficult to get a home loan in Oklahoma right now. Is it really difficult to get a home mortgage? No, It is not difficult to get an Oklahoma home loan, the requirements have simply changed. Right now, you do have to qualify for a home loan. You must have a job and the lender will run a credit report. Years ago, that was not required. You need to fill out an application (in person, online or by phone). Then your information will be verified. For self-employed persons, your tax returns will be verified as well as your employment and income.

There are many options available for an Oklahoma home loan. When it comes to down-payments for example, an FHA loan requires a low down-payment of only 3.5%. A VA loan requires even less. When you hear someone say that it is difficult to get a home loan, now you know the truth.....It is not difficult to get a home loan, it has just changed.

Get a knowledgeable loan expert and find out your options for a Tulsa Mortgage today! Call Steve Currington with Currington Mortgage at 918-810-0092 or www.curringtonmortgage.com.

For all your Tulsa, OK real estate needs, contact The Baskin Real Estate Specialists at 918-258-2600 or www.darrylbaskin.com.

What to Consider When Buying a Home

Thanks to the perfect storm of low prices, attractive inventory, and affordable interest rates, this continues to be a lucrative time to invest in a Tulsa, OK area home, whether it be a first home, a move-up home, or a second home.

Choosing a home is no easy process, however, and many factors must be carefully weighed before making your selection. As a member of the Top 5 in Real Estate Network®, I, along with my team, advise our clients to pay careful attention to a few details in particular when considering a home—these important details will significantly impact your long-term happiness in the home as well as the home’s appreciation over time. So, as you begin to consider properties in our neighborhood, here are a few issues to think about that may help you find exactly the right home for you and your family:

Type of home: One-story or two, single-family, duplex or condo? How will paying homeowner dues affect your overall buying power? Will a swimming pool be a bonus or a hindrance? Making these decisions in advance will help you focus on the right types of home to look at.

New or existing: A new home is all shiny and clean, but will carry with it some hefty initial costs such as landscaping and window coverings. An existing home will have many of these things, but repairs or renovations that may need to be made will also impact your budget.

Features: Weigh the costs of gas vs. electric heating and cooling, and the possible need for fencing. How important is a fireplace? Does the home have enough bedrooms and bathrooms to support your family in the coming years?

Ease of maintenance: What is the condition of the roof? The appliances? Will you have to paint the interior or exterior and/or replace the carpeting? Be sure to factor in such costs in your budget and your negotiations.

Location: Do you want to be in the city or in the country? Nearer to libraries, parks and entertainment or set among tall trees and lakes? What about the need for public transportation? Nearby hospitals and schools?

Crime rate and public schools: Check with local enforcement and local residents to get a feeling for statistics and quality. We can also provide you with up-to-date statistics on this information.

Economic stability: Whether an area is growing or not can affect its future property value—as will the economic stability of the area.

Property tax: Examine the annual amount of real estate taxes and other assessments levied in the neighborhoods you are considering.

We can help find the answers to the above concerns as well as provide more suggestions on what to look for in a new home—just e-mail our team. Also, please pass this article onto others who may benefit from this information.

To buy or sell your Tulsa, OK area home, contact Darryl Baskin, McGraw Realtors at 918-258-2600 or www.darrylbaskin.com.

For all your Tulsa, OK area roofing needs, contact Jonathon Knapp of Royal Roofing at 918-398-6500 or www.rrcok.com.

For all your Tulsa, OK area flooring needs, contact Jim Ecrette of ProSource Wholesale Floorcoverings at 918-252-7711 or www.prosourcefloors.com/tulsa. Remember to ask for Darryl Baskin's wholesale pricing.

For all your Tulsa, OK area home maintenance needs and more, visit www.tulsahomemaintenance.com.

Oklahoma State Questions on the Ballot #2

Last week we gave an overview of SQ 744- 1 of 11 questions on the Oklahoma State Ballot for November 2010. Today, we will discuss the second of the eleven Oklahoma state questions- SQ 746.

SQ 746: This measure amends statutes relating to voting requirements. It requires that each person appearing to vote present a document proving their identity.

The document must meet the following requirements: It must have the name and photograph of the voter. It must have been issued by the federal state or tribal government. It must have an expiration date that is after the date of the election. No expiration date would be required on certain identity cards issued to persons 65 years of age and older.

In lieu of such document, voters could present voter identification cards issued by the County Election Board.

A person who cannot or does not present the required identification may sign a sworn statement and cast a provisional ballot. Swearing to a false statement would be felony.

Those proof-of-identity requirements also apply to in-person absentee voting. If adopted by the people, the measure would become effective July 1, 2011.

This information taken from "Do You Have the Answers?" by Sid Sperry published in Oklahoma Living Magazine.

For more information about SQ 746 or any other question on November 2, 2010 ballot, visit the www.okpolicy.org website.

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

SQ 744 To read about SQ 744 click on the link to the left.

First-time Tulsa Home Buyers: What You Need to Know Before Starting Your Home Search

With historically low interest rates persevering and prices starting to creep back up, more and more renters are grappling with the question of whether to buy now or keep renting.

Based on the countless clients we have helped buy their first home, we can confidently tell you, yes! Now is a very opportune time to purchase your first home.

According to our colleagues in the Top 5 in Real Estate Network®, a national network of leading real estate agents, first-time home buyers across the country have taken advantage of today’s market conditions to go from renter to homeowner. That said, the ability to move into homeownership is very dependent upon the overall health of your finances. Buying a home not only takes having the necessary cash on hand for the deposit and closing costs, but also the financial wherewithal to convince a bank to lend you 80% or more of the purchase price in the form of a long-term mortgage.

Here are some other important points to be aware of before embarking on a home purchase:

1. Having good credit is all important , so put out the bucks to Fair Isaacs’ myFICO.com to get your current scores (about $16 each for reports from Equifax and TransUnion, another $15 at Experian.com). Don’t be surprised if the scores differ somewhat, and check them carefully for errors. Remember that errors must be reported to and corrected by the agencies themselves, which could take weeks or months.

2. Know what you can afford. Aim for a home that costs about two-and-a-half times your gross income – less if you have significant financial debt. In all, your monthly home payments should not exceed 36% of your gross monthly income. Getting pre-approved by a lender should be your signal to start home shopping.

3. Check your cash situation. Whether you are aiming to amass 20% of the home’s price for a conventional loan, or 3% or more for a loan from Fannie Mae, Freddie Mac, FHA or the Department of Veteran’s Affairs, you will also need to cover fees and closing costs, which can run up to 5% of the mortgage amount. First-time buyers may augment their cash by borrowing from an IRA or getting a cash gift from parents, but check with a financial advisor for amounts and tax consequences.

4. And speaking of tax consequences , remember that homeowners, unlike renters, must pay property taxes each year – and pay for any needed repairs or upgrades. Be sure to leave yourself a little financial wiggle room in order to meet these expected – and sometimes unexpected – expenses.

To get pre-aproved for a Tulsa, OK area home today! Call Karen Heston with BOK Mortgage at 918-488-7353 or visit her website.

To buy a Tulsa, OK area home, contact The Baskin Real Estate Specialists at 918-258-2600 or www.darrylbaskin.com.

Court Orders Home Returned to Soldier

A Dallas-area soldier and his wife, who owned their home mortgage-free, but lost it for failing to pay their homeowner association dues, have regained it in a court-ordered settlement.

Army National Guard Capt. Michael Clauer, who was serving in Iraq, and his wife failed to pay $977.55 in fees. The association sent multiple notices by certified mail, demanding payment. Under Texas law, a homeowner association can foreclose on a property and sell it at auction to gain what is owed, which is what the Clauers’ association did.

The $315,000 home was initially sold at auction for $3,201 then resold for $135,000. May Clauer was living in the property at the time. She testified that she suffered depression in her husband’s absence and didn’t know she owed money or that the property had been auctioned until she received a letter demanding rent.

Details of the settlement were sealed, but Shad Bogany, secretary-treasurer-elect of the Texas Association of REALTORS®, said homeowner associations should be regulated. "When there's a disagreement, who else can they call? What's the next step?" Bogany asked, and then answered rhetorically: "There is no next step. If the homeowners association isn't responding, there ought to be a neutral mediator for people to go to with complaints."

Source: Dallas Morning News, Valerie Wigglesworth and Erinn Connor (07/29/2010)


Don't let this happen to you! Contact Chuck Richardson of Richardson, Richardson, Boudreaux at 918-633-1570 or www.rrblawok.com to find out if there are solutions to your Tulsa, OK foreclosure.

Stop your Tulsa, OK Foreclosure Now! Call Darryl Baskin of The Baskin Real Estate Specialists at McGraw Realtors at 918-258-2600 or www.stopmytulsaforeclosure.com.

Find out if refinancing your Tulsa mortgage or other mortgage options are available to you, contact Steve Currington of Currington Mortgage at 918-810-0092 or www.curringtonmortgage.com.

Oklahoma State Questions on the Upcoming November Ballot

On November 2, 2010 there will be an election in which 11 Oklahoma state questions will be decided. When there are so many questions on a ballot, it can be difficult to remember the details of each question and how we feel about them. Today, we will discuss the first of the eleven Oklahoma state questions- SQ 744.

SQ 744: The measure repeals a Section of the State Constitution. The repealed section required the Legislature annually to spend $42.00 for each common school student.

Common schools offer pre-kindergarten through twelfth grade.

The measure also adds a new Article to the Constitution. It sets a minimum average amount the State must annually spend on common schools. It requires the State to spend annually, no less than the average amount spent on each student by the surrounding states. Those surrounding states are Missouri, Texas, Kansas, Arkansas, Colorado and New Mexico. When the average amount spent by surrounding states declines, Oklahoma must spend the amount it spent the year before.

The measure deals with money spent on day-to-day operations of the schools and school districts. This includes spending on instruction, support services and non-instruction services. The measure does not deal with money spent to pay debt, on buildings or on other capital needs.

The measure requires that increased spending begin in the first fiscal year after its passage. It requires that the surrounding state average be met in the third fiscal year after passage. The measure does not raise taxes, nor does it provide new funding for the new spending requirements.

This information taken from "Do You Have the Answers?" by Sid Sperry published in Oklahoma Living Magazine.

For more information about SQ 744 or any other question on November 2, 2010 ballot, visit the www.okpolicy.org website.

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