Sherri Sanders McGraw realtors

Ground breaking Ceremony One Place Tower

Lawmakers Fight Over 20% Downpayment Requirement

Currently, a proposed law would require a 20% downpayment for all Qualified Residential Mortgages. There are concerns by many lawmakers and real estate professionals that this requirement would hinder the recovery of the real estate market. Read on for more details about this proposed law and how lawmakers are attempting to change the federal regulators minds...

More Lawmakers Fight 20% Down Payment

A proposed 20 percent down payment rule for qualified residential mortgages is too high, argues a growing group of lawmakers in the House of Representatives.

Late last week, about 240 lawmakers in the House sent a second letter to federal regulators urging them to lower the down payment rule on QRMs. Last month, about 150 lawmakers had signed a letter urging the same.

"The resultant reduction in demand for housing, due to an overly burdensome government dictate, would only add to the challenges the housing market faces, and could threaten a full-fledged economic recovery from years to come," the most recent letter reads.

The 20 percent down payment rule arises from an effort of several federal agencies that have been trying to urge more responsible lending and borrowing. The agencies created a proposed risk-retention regulation under the Dodd-Frank Wall Street reform law, which requires lenders that securitize mortgage loans to retain 5 percent of the credit risk unless the mortgage is considered a safe mortgage or a “qualified residential mortgage.” (FHA and VA mortgages would be exempt.)

QRMs would be exempt from the 5 percent credit requirement but would have to meet certain guidelines, such as the proposed 20 percent down payment requirement. Borrowers with less than 20 percent down could then be forced to pay higher fees and interest rates.

A 20 percent down payment requirement would cause more first-time buyers to flee from the already fragile housing market, analysts at Capital Economics say.

The National Association of REALTORS® also has been an outspoken critic of the proposal, saying that a 20 percent down payment requirement would jeopardize a housing recovery.

Source: “More Lawmakers Join Major Push to Reduce QRM Down Payment,” HousingWire (June 20, 2011)

To read the original article in Realtor Magazine, "More Lawmakers Fight 20% Down Payment", visit the link.

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

12 Million Home Automation Systems to Be Installed by 2016

Although Home Automation Systems are popular in many Tulsa luxury homes today, they are forecasted to drastically increase by 2016. According to ABI research, "Shipments of home automation systems will total about 1.8 million worldwide this year. But according to ABI Research, that number is set to rise sharply soon, exceeding 12 million in 2016. These figures are contained in a new home automation study from the firm, which confirms its previous forecasts."

ABI believes that the sharp increase in system installations will be a result of new technology. In addition to new technology, innovation such as the new Google Android@Home could make it easier to control and access home automation systems from devices such as smartphones.


For more information, visit the article, " 'No New Wire' technologies to drive home automation market to 12 million systems in 2016, says ABI Research" by Julien Happich.

For Tulsa, OK. home automation system installation, contact Keegan Beck of KMB Enterprises LLC at 918-527-1031 or www.kmbenterprisesllc.com.

To buy a Tulsa luxury home with a home automation system, contact Kelly Howard, the Tulsa Luxury Property Group at McGraw Realtors, 918-230-6341 or www.tulsaluxurypropertygroup.com.

Spectacular Tulsa, OK. Luxury Home For Sale...

Tulsa, OK. Luxury Home For Sale

1714 East 35th Street
Adams Estates in Tulsa, OK.

$749,900

5 Bedrooms
5 Full, 2 Half Bathrooms
4 Living Areas
2 Car Garage

For more information on this spectacular Tulsa, OK. luxury home for sale or to buy or sell Tulsa, OK. luxury real estate, contact Kelly Howard, Tulsa Luxury Property Group at McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Waltz on the Wild side zoo fundraiser

What is Required in a Home Inspection?

When we purchase a Tulsa, OK. luxury home, most homeowners choose or are required by their mortgage, to have their home inspected. Each inspector has their own way to inspect the property and some do more than others. There are requirements, however, by the Oklahoma Home Inspection Industry (OAC 310:276) that gives minimum requirements for a General Home Inspection. Those requirements include:

The inspector shall inspect and describe the condition of the following items:

1. Structural System Inspection Requirement
a. Foundation Components
b. Framing Components
c. Method of Inspection
2. Exterior Inspection Requirements
a. Exterior Wall Coverings
b. Flashing, trim, fascia and soffits
c. Doors and windows
d. Balconies, decks, and railings
e. Steps, porches, walkways, patios, and driveways
f. Site, grading, surface drainage, and retaining walls
3. Roof System Inspection
a. Roof covering, penetrations, and flashings
b. Skylights
c. Chimneys
d. Method of inspection
4. Plumbing System Inspection
a. Fixtures, faucets, drain and vent systems
b. Water heaters, flues, energy source, and safety relief valve
c. Fuel storage and distribution systems and location of main fuel shut off
d. Water supply and location of main water shut off
5. Electrical System Inspection
a. Service drop, service entrance conductors, cables and raceways
b. Main disconnects, distributions panels, sub-panels, and grounding
c. Describe the amperage and voltage of the source
d. Conductors (including presence of aluminum branch wiring)
e. Readily accessible lighting fixtures, switches, ceiling fans, receptacles, ground fault
circuit interrupters, accessible wiring and splicing
f. Absence of smoke detectors
6. Heating System Inspection
a. Installed heating equipment, vents, flues, and chimneys
b. Energy source and distribution method
7. Cooling System Inspection
a. Central and through the wall cooling equipment
b. Energy source and distribution method
8. Interior Inspection
a. Interior walls, ceilings, and floors
b. Steps, stairways and railings
c. Cabinets and countertops
d. Doors and windows
e. Garage doors and automatic openers
f. Built-in kitchen appliances (garbage disposal, cook top, oven, dishwasher, vent hood)
9. Insulation and Ventilation Inspection
a. Insulation and vapor barriers in attic and crawlspace areas (or absence of)
b. Ventilation of attic and crawlspace areas
c. Mechanical ventilation systems
10. Fireplaces and Solid Fuel Burning Appliances Inspection
a. Firebox, damper, flue and solid fuel burning appliances

Need Tulsa Home Maintenance repairs after your home inspection? Contact these professionals...

Tulsa, OK. Roofing Repairs- A-Best Roofing, Judy Smith, 918-587-1426 or www.abestroofing.com

Plumbing Repairs in Tulsa, OK.- Mullin Plumbing, Markwayne Mullin, 918-258-6636 or www.mullinplumbing.com.

Tulsa, OK. Electrical Repairs- Murray Electric, Larry Murray, 918-557-3020 or www.murrayelectric.com.

Heating and Cooling Repairs in Tulsa, OK.- Stephen Taylor, Air Assurance, 918-258-COOL or www.airassurance.com.

Homes for Sale in the South Tulsa Area

Jenks, OK. Luxury Home

11808 South New Haven
Scissortail at Wind River in Jenks, OK.

$785,000

4 Bedrooms
4 Full, 1 Half Bathrooms
3 Car Garage
Jenks School District
----------------------------------------------------------------------

Bixby, OK. Home for Sale

14493 South Lakewood Ave.
The Ridge at South County in Bixby, OK.
$339,990

4 Bedrooms
3 Full, 1 Half Bathrooms
3 Car Garage
Bixby School District
----------------------------------------------------------------------

Broken Arrow, OK. Home For Sale

2500 South 15 Street
Washington Lane III in Broken Arrow, OK.
$299,000

4 Bedrooms
3 Full, 1 Half Bathrooms
2 Car Garage
Broken Arrow School District



For information on these South Tulsa Homes for Sale or to buy or sell Tulsa, OK. area luxury real estate, contact Kelly Howard, Tulsa Luxury Property Group at McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.

Tulsa, OK. Area Luxury Home for Sale

Elegant Luxury Home For Sale in Bixby, OK.

13420 S. Lewis Ave.
$999,000

13420 South Lewis Avenue in Bixby, OK
The Estates of Hampton Hills Addition

5 Bedrooms
5 Full, 1 Half Bathrooms
3 Car Garage



For more information on this Tulsa, OK area luxury home for sale or to buy or sell real estate in the Tulsa, OK area, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

Is Tulsa, OK Home Ownership Still a Good Investment?

After home values dropped the last couple of years, some are asking, "Is Tulsa, OK. home ownership still a good investment?" In a recent article posted in Realtor Magazine, entitled "Americans: Home Ownership Still a Great Investment", Americans surveyed agreed that home ownership was still a great long term investment. This group surveyed included homeowners who were underwater in their mortgages. For more interesting information included in this article, read on:

Seventy-five percent of Americans say that “owning a home is the best long-term investment they can make and is worth the risk of ups and downs in the housing market,” according to a new survey of 2,000 bipartisan voters by the National Association of Home Builders.

Despite their situation — whether underwater on their home or even renters — the survey found Americans to be optimistic about home ownership. Eighty-one percent of those who own their homes outright, 76 percent with mortgages, 67 percent of renters, and 65 percent who have underwater mortgages cited home ownership as the “best long-term investment.”

When survey respondents were asked whether they’d recommend buying a home to a friend or family member just starting out, 80 percent of Americans said “yes.” Even home owners currently underwater — those who owe more on their mortgage than their home is currently worth — overwhelmingly (78 percent) said they would recommend home ownership to family or friends starting out.

More buyers are coming up through the pipeline too. The survey found that 73 percent of those surveyed who do not own a home said their goal is eventually to buy one.

The NAHB survey also found:

▪ 58 percent of Americans oppose eliminating the mortgage-interest deduction and 63 percent oppose lowering it. What’s more, 57 percent of those surveyed say they are less likely to support a candidate for Congress who wanted to eliminate the mortgage-interest deduction.
▪ Respondents were split on about requiring a 20 percent down payment to purchase a home: 49 percent were in favor and 49 percent opposed it. However, mortgage holders and renters aged 18 to 54 were more opposed to it: 58 percent of younger mortgage holders and 59 percent of younger renters opposed adding a 20 percent down payment requirement.

Source: “The Cook Report: The Home Front,” National Journal (June 2, 2011)

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

2428 East 24th St. - Tulsa, Ok.

Beautiful traditional home with many updates. Located on dead end street in midtown. New master suite with sitting room, heated floors, dbl sinks, dbl closets, & balcony. Great office, sunroom, open kitchen. 4bed, 3.5bath. Asking $835,000.00

Tulsa, OK. Area Homes for Sale

Gated and Secluded Luxury Estate in Bixby, OK

1724 East 151 Street
in Bixby, OK.

$2,675,000

5 Bedrooms
6.5 Bathrooms
4 Car Garage


_________________________________________________

Gorgeous Luxury Estate on Over 1/2 Acre in Bixby, OK.

11707 South Fulton Avenue
Forest Hills Estates in Bixby, OK.

$725,000

4 Bedrooms
3 Full 2 Half Bathrooms
3 Car Garage

____________________________________________


New Construction in Bixby, OK!

14558 South Urbana Court
The Auberge in Bixby, OK.

$214,900

2 Bedrooms
2 Full 1 Half Bathrooms
2 Car Garage

________________________________________

Charming Old World Home in Jenks, OK!

6338 East 111th Place
Woodfield Village in Tulsa, OK.

$325,000

3 Bedrooms
2 Full 1 Half Bathrooms
2 Car Garage

For more information on these Tulsa, OK area homes for sale or to buy or sell your Tulsa, OK area luxury real estate contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.