Maintaining Your Homes' Appraisal Value!

With mortgage rates at an all-time low, it is not uncommon for homeowners to consider refinancing their home. One of the biggest concerns some homeowners have during this real estate market, however, is keeping the appraisal value of their home high. Read on for a few tips to help maintain your home's high appraisal value.

1. Before your appraisal is ordered, ask your lender to request an appraiser who is from your county. Also request an appraiser that is certified and has a professional designation such as a Senior Residential Appraiser from the Appraisal Institute (SRA) or a Member of the Appraisal Institute (MAI).
   
2. One of the first things to do as a homeowner when you are facing an appraisal on your home is to be knowledgeable. Ask your realtor for comparable sales in your area. Also, take the time to visit some of the open houses in your area. With this pricing information you should have a good idea of your home's value.
   
3. Don't be afraid to let the appraiser know that you have seen comparables to your home. Also be willing to confront the appraiser if he overlooks important facts and features of your home.
   
4. If the appraisal is low, don't be afraid to question the appraiser. Sometimes they can overlook important information that will affect the value of your home.

Although you cannot control the value the appraiser will place on your home, with the right knowledge and preparation you can help prevent a low appraisal during this struggling real estate market.

To buy or sell your Broken Arrow, OK area home, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

To Read More on this subject, check out the original articles "Keeping Home Appraisal Values Up" in the Tulsa World and "How to Avoid a Low Home Appraisal" from Bankrate.com.

How Do I Handle Fraud in Title Insurance?

Handling fraud in any situation is difficult. When it comes to title insurance, there are some things to keep in mind. First, let's define title insurance. Title Insurance is insurance that covers financial loss as a result of a defect in a title to real estate. Second, we need to know what period the insurance will cover. When we buy homeowner's or auto insurance, we are covering our home or auto from the time we purchase the policy until that point in the future that the coverage is canceled. With title insurance, though, it works in reverse. Title insurance covers from the moment you purchase your home and into the past. If you are sued after you close on the property, then the title insurance may not cover you. Finally, title insurance issues can be quite tricky. To ensure that you are covered for everything you need, talk to your attorney or your title company. You may even consider asking for extended coverage on your title insurance to cover you from your home purchase into the future.

If you have legal problems with your Oklahoma title, contact David Keesling at Richardson, Richardson, Boudreaux at 918-492-7674 or www.rrblawok.com.

To purchase title insurance or if you have questions about title insurance in Oklahoma, contact Ann Rollins of Closings of Tulsa at 918-493-2241 or www.closingsoftulsa.com

For all your Oklahoma home, auto, and life insurance needs and more, contact Mike Tedford, Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com

For all your Broken Arrow, Oklahoma area real estate needs, contact The Baskin Real Estate Specialists of McGraw Realtors at 918-258-2600 or www.darrylbaskin.com

Why You Should Buy a Home Now…Even after the Tax Credit .

While much press coverage has been given to the recent first-time and move-up buyer tax credit, there are many time-sensitive factors that make the current climate an exceptional time to buy a home…even without the tax credit. 

As a Member of the Top 5 in Real Estate Network®, I, along with my team, have seen many real estate markets come and go, and we know for a fact that the many outstanding opportunities that exist for home buyers today will not be around forever.

Besides mortgage interest rates that have been hovering at near-record lows, homes in many markets have become more affordable. Prices have moderated from the highs of the housing boom that occurred in most of the country, especially in major markets where they had increased significantly.

According to the National Association of Home Builders (NAHB), new construction homes are an especially wise investment for home buyers. New homes are generally built to be much more energy efficient than homes constructed a generation ago, making them more affordable to operate. Plus, new homes often incorporate open floor plans, flexible spaces, improved safety features and low-maintenance materials—making them well-suited for today’s modern families.



So, if you’re thinking about buying a home, please don’t count on interest rates or prices staying at current levels—we’ve seen them change unpredictably and quickly! Mortgage rates are sensitive to market conditions, and even a slight increase can push monthly payments beyond a family’s budget. As the country recovers from the recession and people stabilize their financial situations, NAHB economists expect that home prices will begin to increase by 2011.

For further advice on buying a home or market conditions, feel free to e-mail our team anytime. And be sure to pass this information on to friends and family who might also be considering a real estate purchase.

Sincerely,

Darryl Baskin 



For all your real estate needs in the Broken Arrow, OK area, contact Darryl Baskin and The Baskin Real Estate Specialists of McGraw Realtors at 918-258-2600 or www.darrylbaskin.com.

Interested in building a new home in the Broken Arrow, OK area? Contact Rick Oberlender of US Building Systems at 918-518-5913 or email him at usbs@att.net.

To become pre-approved for your Broken Arrow, OK home mortgage or for a rate quote, contact Steve Currington of Currington Mortgage at 918-394-5626 or www.curringtonmortgage.com

supplemental information about the July 27 primary election, links to 5 voter guides and possibility of a referendum petition in the city of Tulsa

RE: KEEP FOR REFERENCE: supplemental information about the July 27 primary election, links to 5 voter guides and possibility of a referendum petition in the city of Tulsa

4.  Please open and print out the attachments called "Tulsa County" and "Statewide".  We recommend this because we have listed additional phone numbers, e-mail addresses and web sites for candidates that we didn't have when we sent you the previous e-mail.  Also, you need to know that one of the candidates for District Judge (Clancy Smith) is no longer running for that office because she was just appointed to be a judge over a higher court in Oklahoma.  Her name is still on the ballot.  This is one more reason that we encourage you to forward this e-mail and the previous e-mail to everyone you know in Tulsa County.  Also, if you had any difficulty getting your district numbers from the state election board web site, please call the Tulsa County Election Board ASAP at 596-5780 and ask them these questions:

What is my precinct number?

What is my State Senate district number?

What is my State Representative district number?

What is my County Commissioner district number?

The answers they give you will enable you to see which candidates on the "Tulsa County"attachment are on your ballot.  Also, please go to the Tulsa County Election Board web site and click on your precinct number to see EXACTLY what races are on your ballot.  The web site for the Tulsa County sample ballots is http://www.tulsacounty.org/tulsacounty/dynamic.aspx?id=4740

 

5.  We have located 5 pro-family web sites that provide voter guides and/or additional information.  The reason that we are also attaching the survey questions from the OK-SAFE voter guide is so that you can answer the survey first, and then compare your answers to the answers provided by the candidates.  All 5 of these web sites are on the "Statewide" attachment, but we are repeating them here:

 

http://www.ok-safe.com/Website/Default.aspx?id=5&pageid=61                http://www.okforlife.org

http://www.okfamilypc.org/voters_guide.htm                                               http://ivotevalues.com/

http://ethics.capwiz.com/election/guide/?state=OK&races=presidential&races=congressional&races=state_leg&races=statewide_office&races=statewide_ballot&browse_races=Go

 

6.  If you live in the city of Tulsa, an ordinance was passed in June adding sexual orientation to the list of "protected classes" to the City of Tulsa's non-discrimination personnel policy.  We have been told by an attorney who works for the City of Tulsa that Mayor Bartlett does not have to sign or veto the ordinance, because it is a change in policy.  The Tulsa City Council approved this policy by a vote of 6 to 3.  If you don't know how your City Councilor voted, you can call his or her office at 596-1990.

 

7.  Because the issue described in paragraph 6 of this e-mail is an extremely important moral issue, we have asked a Tulsa city official to determine if the voters in the city of Tulsa can circulate a referendum petition to repeal this ordinance.   The response we have received is that the charter for the city of Tulsa does have a provision for voters to sign a petition for a referendum election on city ordinances.  Therefore, large numbers of people will need to commit to getting involved to get this issue onto the ballot.  (In other words, we need to get the sexual orientation policy on the ballot for repeal.)  At least one individual in each precinct will have to commit to getting enough signatures from the voters in their precinct to put this issue on the ballot.  These volunteers from each precinct will have to be organized so that the correct numbers of signatures are obtained in the time allowed.  People will have to raise money to promote these issues to the general public.  There are many other things that would have to happen if this project is to be successful.  If you are willing to commit to any of these important duties, please reply to this e-mail and tell us what you are willing to do.  Also, all 9 of the City Councilors in Tulsa will be up for re-election in the fall of 2011.

 

8. that this information is provided for educational purposes only and is NOT being generated by any church or ministry.

What NOT to do with Your Credit Card!

For most of us, using a credit card has become a way of life.  To improve our credit score, or keep our credit score high, and keep those credit cards available remember what NOT TO DO!

1.  Seek a lower rate.  Although asking for a lower rate can be a good thing sometimes, keep in mind that when you ask for a lower rate, credit card issuers will often check your credit score or credit report or even question you about your financial situation.  Once you ask for a lower rate, companies will often treat you as if you are a new customer and check your most recent credit history.  If you have had any credit problems that show up in your credit report, this could actually cause your credit limit to be lowered or your account closed.  To prevent this, check your credit report before you ask the credit card company for a lower rate.

2.  Close your account.  If may seem that closing your account would improve your credit score, but it may not.  Credit bureaus use the information from these creditors to track your information and give you a score.  When there is too little information, it will actually cause your score to decrease.  Closing an account will not remove any information from your credit history right away.  It can take up to 7 years for delinquencies to get off your record.  In addition, credit bureaus use the information they get from your credit report to figure the "debt-to-limit ratio".  When you close an account that already has a zero balance it will cause your available credit to decrease which raises that debt-to-limit ratio.  Instead of closing the account you owe nothing on, consider reducing the balances on other credit card accounts.

Remember that a lower credit score makes it more difficult to get a loan for school, a car, or a mortgage.  Keep your credit score high and you will increase your chances of getting that much needed loan next time you want to buy a car or a home.

Read more from this Tulsa World article "Safety in the Credit Card Ring", here.


To buy or sell a home in the Broken Arrow, OK area, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com

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Rachel Castillo
Internet Marketing Coordinator
ExpertTalk Productions

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http://www.experttalkproductions.com

The "Norm" Changes for Mortgage Down-Payments!

Before the housing market crashed a few years ago, the "norm" used to be for buyers to save for years until they had enough money to put a down-payment on a home. Lenders are now taking us back in time as they change the requirements for a loan. If you are thinking about buying a home or are in the search for one, keep these things in mind:

• To receive low-rate mortgages or refinancing, lenders now require 10% down-payment or equity.
• If you can't put down 10% you still have the option for an FHA insured mortgage but you will still need 3.5% down-payment
• For no down-payment loans you need to qualify for a Department of Veterans Affairs Guaranteed Home Loan or a USDA Rural Housing Service Loan.
• A first mortgage of 80%, with a 5-10% down-payment, and the remaining 5-10% on a second-mortgage can, in many cases, be cheaper than getting the home loan with mortgage insurance.

Take advantage of extremely low mortgage rates and buy or sell your Broken Arrow, OK area home today. Contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

To read the original article in the Tulsa World, "Buyers Forced to Jump Through Hoops", click here.