3/2 Edmond home for sale under $120,000!

Just Listed...

1001 Kelly Park Road in Edmond for $119,000.  Come and get it while it's hot!  3 bed, 2 bath, 2 car garage, 1304 square feet.

Great Edmond Family home.  Edmond schools.  New roof, new carpet, new tile, new oven, new kitchen backsplash, sink and faucet; new paint, new front door, new hardware, new lights, new awesome master shower...you get the idea.  All this house needs is a new owner!  Sunken living room with french doors to the patio and a fireplace.  Master w/own bath&walk-in closet.  Large back yard with red buds and a storage shed.   House is bright and clean. 

2724 Nw 26th St. 

East of May Avenue in historic NW OKC.

2 bed plus office, 1 full bath, 1 half bath, 2 car garage, 1560 square feet.

Perfectly charming historic home that is well appointed and meticulously maintained. The tastefully remodeled kitchen is contemporary in style and blends beautifully with the historic charm of this home.Richly finished hardwood floors, open, airy floor plan, large yard and great neighbors. You'll love the updates...new light fixtures, landscaping,hardware and beige on white trim,any nice updates make this home a pleasure to live in!  Award winning Cleveland Elementary school

Come check it out on Sunday!

Well, it's that time of year when our Oklahoma County assessor sends us all a message in the mail telling us that he thinks our homes are gorgeous.  Apparently he presumes we spent the last 12 months remodeling.  I did do some remodeling, but not as much as Mr. Sullivan thinks.  I'm glad he thinks my home appreciated in value, really I am.  However, I don't want my property taxes to reflect that. 

Okay, so here's what I'm talking about:

My little 1200 square foot house that I lease out in the Village is valued by the county assessor's office at $130,565.  That is $109 per square foot!!  The problem with that is the value of $130,565 is what Mr. Sullivan  uses to determine my TAXable market value.  Therefore, my property taxes are going to rise this year.

 Not my taxes!  At the bottom of the letter in small print, it says you can protest the value within 20 days of receiving this letter.  This morning I emailed the assessor's office with an attached market analysis of all the homes in my neighborhood that are like mine.  It shows that not one house sold for $109 per square foot, but anywhere from $80-$100.  I told them I would like my value to be between $115,000-$120,000.  My house is cute afterall.

So, don't take that letter and just throw it in the trash.  Take a good look at the value listed on it.  If you think your value is too high, email me or call me and tell me about it.  I'd be happy to forward you a market analysis that you can send to the assessor.  Just don't wait too long.  You only have 20 days.

I don't know Mr. Sullivan.  I'm sure he's a nice guy, but he's never been to my house

Natalie b

Most of us in Oklahoma use natural gas to heat our homes.  We are told using natural gas is safe, clean, and efficient.  Many of you prefer cooking with gas stoves, and most of us heat our water and dry our clothes using gas. 

Carbon monoxide is odorless, colorless, and tasteless.  This gas can make you sick, and sometimes in extreme cases, you can die.  We all know about carbon monoxide build up in a closed garage when the car is running.  But improperly vented appliances and furnaces can contain carbon monoxide as well. 

What are the signs?  Look for black soot around vents, flues, furnace filters or burners.  Another clue would be a yellow flame instead of a blue flame. 

Symptoms for me?  headache, dizziness, ringing in the ears, fatigue, increased perspiration, nausea, weakness, and vomiting.  (These symptoms obviously go with many other sicknesses, so get yourself checked out.)

How do I prevent carbon monoxide?  Maintain proper ventilation of flue and chimney; Clean or replace air filters regularly; Don't block air intakes near appliances; Don't use gas ranges and space heaters to heat your home; Open the garage when starting the car or lawn mower; Operate your grill outdoors only; Install a carbon monoxide detector with an audible alarm.

Thanks ONG for this information.  www.oklahomanaturalgas.com.

Two of the most common questions I am asked when showing homes to new clients are, "Natalie, is this neighborhood safe?  Is this a good neighborhood?"  As much as I want to help my clients, and as much as I want to give advice; I'm not allowed to say.  It is against fair housing laws for me to direct my clients in any direction when considering a neighborhood or location.  I hate that I can't freely give my opinion, but who says my opinion is always right?  What I can do is give you the tools to help you decide for yourself.

Your best asset is your eyes.  Pay attention to what you see when visiting the neighborhoods you are considering.  Take a long drive through the area at various times throughout the day and evening.  Do you like what you see, or does your gut tell you this is not the place for you?  Are there kids out playing, people going for walks, working in their yards, etc...?  Does it look like people take pride in their property?  Are the yards maintained?  Are the houses in good shape, or are most of them dilapidated and have broken windows?  If it looks like the kind of neighborhood you want to live in, great!  If your gut says no, then it's probably best to go somewhere else.

Do you know anyone living in the neighborhood?  Ask them what they like or dislike about the area. 

 There are several websites that can help you with your decision.  Here are a few to get you started:

The Oklahoma City Crimetracker: http://www.news9.com/global/Category.asp?c=161407

The Oklahoma Sex and violent crime offender registry:

http://docapp8.doc.state.ok.us/servlet/page?_pageid=190&_dad=portal30&_schema=PORTAL30

Here's an article I read today about new guidelines on FHA loans.  I'll add my own comments as we go. 

By Corbett B. Daly

WASHINGTON, Jan 19 (Reuters) - The U.S. Federal Housing Administration said on Tuesday it will raise the minimum down payment required to secure an FHA-backed mortgage for less creditworthy borrowers as part of a series of steps to shore up the agency's finances.

The FHA said borrowers with credit rating scores below 580 would be required to make a down payment of at least 10 percent, while the rate for higher-ranked borrowers would stay at 3.5 percent.

(This is great for people who haven't been able to buy homes simply because of bad credit.  Many people with medical conditions or past difficulties will find relief with this.)

It also said it would increase the up-front mortgage insurance premium, which is paid by the borrower when the loan is made, to 2.25 percent from 1.75 percent.

The moves will raise the cost of mortgages at a time the housing sector is trying to find its feet, but the agency said it was a prudent step to ensure its financial health and carry on its mission of supporting home ownership.

"Striking the right balance between managing the FHA's risk, continuing to provide access to underserved communities, and supporting the nation's economic recovery is critically important," FHA Commissioner David Stevens said in a statement.

The FHA said in November that its capital reserves had dwindled to just 0.53 percent of the value of the thousands of home mortgages it insures, well below the 2 percent required by law and down sharply from 3 percent in 2008.

To help rebuild reserves, the agency said it would seek congressional approval to allow it to raise annual mortgage insurance premiums -- which are paid out by the borrower over the life of the loan -- above the 0.55 percent maximum.

(oh, well this doesn't sound so great!  Maybe that won't pass.  If it does pass, at least you won't pay as much on it at closing.)

If approved, this would allow it to shift some of the increase in the up-front premium to the annual premium.

"This shift will allow for the capital reserves to increase with less impact to the consumer, because the annual (premium) is paid over the life of the loan instead of at the time of closing," it said.

It did not specify a new level for the annual premium.  (Hopefully, not much.)

The FHA also said it was cutting the amount of aid sellers could provide buyers to 3 percent of the purchase price from 6 percent, a move it said could help lessen incentives to inflate appraised home values.

(This means you must be able to pay some of your own closing costs!) 

The changes come at a time when FHA-backed credit has never been more important to housing. Mortgage credit for many Americans dried up when the housing boom went bust in 2007, touching off the biggest financial crisis in 70 years.

The agency saw a fall in volume during the boom as Wall Street investment banks offered lenders a lucrative market for their loans, but agency volume has soared since mid-2007 as lending standards tightened and easy access to capital dried up.

Applications for FHA-guaranteed mortgages exceeded an annual rate of 3 million in October, nearly triple the level in 2007. In 2006, when subprime and other Wall Street programs were at full speed, the annual rate for applications was less than 600,000. (Additional reporting by Tim Ahmann; Editing by Jan Dahinten)

I've been hearing a lot about bursting pipes in homes, since this huge snow storm at the end of December and the super cold weather we've been having.  So I apologize for not writing this sooner.

In case we have anymore storms this winter, here are some tips to prevent water damage in your home:

Disconnect all outdoor hoses, and turn off all sprinkler systems. We buy those cheap insulators that fit right over the exterior spigots.

You can also install a freeze-proof exterior spigot.  I've never seen one, only heard about them.

Insulate unheated areas that contain your plumbing lines, such as the attic and crawl space.  I think you can also buy foam that wraps around your pipes. 

Always keep your thermostat above 55 degrees, even if you are out of town.

 Of course, drip your faucets when the weather dips below freezing. 

Know where all your water shutoff valves are just in case a pipe does burst.

 Secondly,  it's also a good idea to check your plumbing from time to time.  You can waste a lot of money and water from a tiny leak.  A small leak in a pipe could waste thousands of gallons of water per day!

Occasionally take a look at the lines going to and from your water heater.  Feel around for water, or look for the green corrosion.  If it's there, you have a leak.

Other places to check for small leaks are toilets, washing machine hoses, pipes under sinks. 

Hope this helps a little, or at least reminds you that you planned on going to the home improvement store to pick up a few of these items.

natalie b