Electrical Concerns in Tulsa

When shopping for a new home, we look for certain things: a certain number of bedrooms and bathrooms, the right size yard, carpet or hardwood floors. However, there are other things to look for in your new home which are not as visible, but just as important. One of those things is your electrical wiring.

In the 60’s and 70’s Zinsco® made electrical panels which were placed in many homes. This was a time when the electrical needs of homes was expanding and many manufacturers were working to meet the new demand. At some point, Zinsco® wanted to meet that need as well, so they decided to use a thinner breaker. They also switched to aluminum rather than copper. This allowed more breakers to be placed in their panels, and made them cheaper, but ultimately, they were unsafe. The aluminum and smaller breaker size worked together to create sparking and a fire hazard.

Inspectors see a Zinsco® panel as a red flag. This could potentially scare away potential buyers. Having it switched is a good idea. You can hire a professional to look over your electrical and see if you have a Zinsco® panel and if any changes need to be made.

As a homeowner you should be aware of your electrical panel. If you see sparking or have an electrical issue, you should turn off the electricity to the panel. Knowing where the panel is and how to turn off the electricity to certain rooms and the whole house can save lives and your home.

If your panel is in a closet, have it moved. Most experts advise keeping 3 feet in front of the panel clear and having one in a closet is a fire waiting to happen. If the panel begins to spark, it is close to very flammable items and out of sight, so a fire might not be detected until it is too late.

Once you know your panel is safe, and in a good location, have it checked to make sure all wiring is placed correctly and in a way it will not overload any of the breakers. This keeps your panel working properly and for a longer time. It also ensures you’re covered by your insurance if something happens with your electrical panel or wiring.

Electricity can be daunting. There are some great professionals in the area who can help you figure out what needs worked on. Be safe with all your electrical needs. Schedule a call, or an appointment, for your real estate questions today at askinforbaskin.com

Inspection Tips For Selling and Buying in Tulsa

Whether you are buying or selling a home, a general inspection is always a good idea. For the buyer, often property disclosures are missing, and having an inspector look over the home gives peace of mind. For the seller, it shows you where your home might need some changes before you list it, and you know what will come up in future inspections.

A general inspection gives you a sense of the overall condition of your home and looks at the structural issues in your home. A good inspector tells you any issues in your wiring, the structure, and many other areas. However, they usually do not go much farther than the basics. Other kinds of inspections can be worth it for peace of mind. For example, roof inspections are wise since after 5-10 years, your insurance may not cover the full cost of replacing it. You may also want to look into inspections particular to your neighborhood, such as radon and mold.

Your inspection is an investment in your home. Even if a home is new, it will need upgrades and repairs. Inspectors can give you a heads-up as to which items you should be concerned about first. Find a good realtor who represents you as you buy, or sell, your home. They help you know how to interpret the inspection and can recommend good contractors for those things you need aid with. Schedule a call, or an appointment, for your real estate questions today at askinforbaskin.com

Tulsa Program to Help Kids Succeed

It’s often said that children are our future leaders. Just like learning math, or English, leadership can be taught and honed. Junior Achievement of Oklahoma (JAOK) is a local program designed to teach kids the skills they need to succeed. It is estimated the JAOK educates 5600 students every year statewide and partners with 4000 business partners.

The JAOK works to teach kids about economic achievements in life. They offer a series of classes designed to help them grow into economic leaders. Each class is designed to help young people in three key areas: work readiness, financial literacy, and entrepreneurship. Kids learn critical thinking skills as well as how to succeed in the job market, either as an employee or a business owner. They also learn how to understand finances, which is beneficial in all areas of life.

Just like many programs, JAOK works through donations and volunteers. They’re always on the look-out for professionals willing to give of their time and expertise. The kids benefit from the advice and experiences of those sharing. The teachers benefit by building relationships with the kids, while doing something fun. If you feel drawn to volunteer, check into their website for more information. There are also ways to sign up a child for the program and more on what’s available. You can also email Erica Irvine at eirvine@jaok.org for more information.

This program is one of many reasons our community is so great. Schedule a call, or an appointment, for your real estate questions today at askinforbaskin.com.

Tax Changes Which Affect Tulsa Real Estate

Every year there are changes to tax laws. This year, there have been some changes which affect the real estate market. Here are a few and how they affect you.

The first change is about home purchasing. In the past, you could purchase a house for up to a million dollars and write it off on your taxes. The new maximum has been changed to $750,000. So, this may change the price of the home you are looking for.

The second big change involves home equity lines of credit. Normally you can apply for a line of equity to buy a car, pay off credit debt, or many other things. However, they are mostly used for home improvement. In the past, you could take the amount of interest you paid on that equity line and use it as a tax deduction. Now, only home equity lines which are used for home improvement are tax deductible.

The last change is to the maximum amount for a conventional loan. Previously, it was $417,000. This has been raised to $451,000. You can now purchase more home and have a better interest rate.

Also, if you have an investment property you are looking to sell, remember you have 90 to 120 days to purchase a new property. After that amount of time, you have to pay your capital gains tax from that sale. A wise investment move is to take your profit from that sale, place it into a 1031 exchange, and then find a new property over the 90 to 120-day period.

These are not bad changes. The best thing you can do is to meet with a CPA. Whether you have an investment property you are looking to sell or looking to get a credit line to fix up your home, the CPA can help you come up with a game plan that works best for you. They may even suggest refinancing to help get the best deductions. Schedule a call, or an appointment, for your real estate questions today at askinforbaskin.com

CSST Pipe in Your Tulsa Home May Be a Fire Hazard

 

Click here to learn more on why you need to bond your CSST Pipe to prevent an explosion

A CSST (Corrugated Stainless Steel Tubing) pipe doesn’t look like a typical pipe. It’s flexible with a thin wall, yet is strong and reliable. It’s usually yellow, but can occasionally be black. A CSST pipe is used to supply natural gas and propane. While CSST is durable, there has been an issue.

When a house with a CSST pipe is struck by lightning, or lightning strikes nearby, the home can explode. This issue began in the 90’s, however initially; it wasn’t clear as to why. The reason is that lightning gets on the gas line and travels the gas line looking to ground. While it’s traveling, if the CSST pipe passes close to an electrical junction box, the electricity will jump. When the electricity jumps, it creates a pinhole in the pipe, which lets the gas out. The leaking gas combined with the sparks from the lightning are not a good combination and can result in an explosion.

The explosion can be prevented by bonding the gas line to the electrical system. This is done by running a wire from the electrical system ground to the gas line. This will prevent the electricity from jumping.

This is a new code which was passed in 2005, instituted in approximately 2007, and is considered to be a huge safety concern. It’s a code which needs to be taken seriously as a home seller and a home buyer.

Since this is an electrical task, it’s recommended that a licensed electrician inspects and performs any electrical bonding. The cost in the Tulsa area depends on whether the house is one or two stories. A single story house, about 1800-3000 square feet may cost around $185. The price increases on a two-story house because the manifold is in the attic.

For additional questions on CSST pipe bonding, contact Steve at Murray Electric in Tulsa, at 918-835-9605 or www.murrayelectric.com.

 

Featured Properties

  • 3510 E 104th Place – Located in Tulsa, nearly 1 acre, 1-level home, 3,400 SF, private master suite, updated kitchen, and new roof. Jenks schools! Listed at $299,000
  • 7957 S 78th East Ave. – Located in Sweetbriar. Wonderful layout with 3 bedrooms downstairs plus bedroom suite and theater upstairs. Semi-detached office w/outside entrance, outdoor living area. Great value! Listed at $225,000
  • 8954 W 51st Street – Well priced Grand Colonial home with beautiful entry! 9042 SF on 5 acres, 6 bedrooms, 6-full/2-half baths, chef’s kitchen, mother-in-law suite, and 8-car garage. Listed at $999,999
  • 6708 S Atlanta Pl – Spacious home on corner lot with 4500 SF; 2 bedrooms on first floor, 2 upstairs with possible 5th bedroom, formal living, dining, and family rooms. New hardwood floor and plenty of closet space! Office with separate entrance and Circle driveway. Listed at $294,000

For a complete list of active listings, visit homeguidetulsa.com.

Schedule a call, or an appointment, for your real estate questions today at askinforbaskin.com.

Prohibited Dealings When Buying and Selling Real Estate in Oklahoma – Know What Your Realtor® Shouldn’t Be Doing

Join “The Future of Real Estate” to hear more about prohibited dealings to avoid in real estate.

The Oklahoma Real Estate License Code and Rules provides a list of 23 prohibited dealings.  These standards are important for all people to know. As a consumer looking to buy, or sell real estate in Oklahoma, you should be aware of the commission rules. These are established to protect you from a potentially negative outcome. Licensed real estate agents are expected to adhere to a certain standard. If they don’t follow these rules, they can be held accountable by the licensing commission and the law.

One prohibited dealing listed by the Oklahoma Real Estate Commission is “The making of a brokerage service contract without a date of termination”. In other words, it’s an open-ended contract. As a consumer, you don’t want to sign a contract that doesn’t list a termination date. It’s too ambiguous and creates conflict.

A second prohibited dealing is “Purchasing of property by a licensee for himself or herself or another entity in which the licensee has an interest as defined in 605:10-15-1 (c), if such property is listed with the broker or the broker’s firm, without first making full disclosure thereof and obtaining the approval of the owner, or the failure by the licensee to exert the licensee’s best effort in order to later purchase or acquire the property for themself or another entity in which they have an interest as defined in 605:10-15-1 (c)”. It’s not wrong for a Realtor to sell a property in which they have an interest; however, they must make it known.

These are 2 of the 23 prohibited dealings. Visit the Oklahoma Real Estate Commission for a complete list of prohibited dealings in Oklahoma.  Check out the License Code and Rules (effective November 1, 2017) document.

For additional real estate questions, or to schedule an appointment with The Baskin Real Estate Specialists, with no cost or obligation, visit askinforbaskin.com.

Investing in Real Estate in The Pearl District, Tulsa, OK

Click here for more information on the Pearl District in Tulsa, OK

If you’re shopping for residential property in the Pearl District, you may have missed your opportunity for the best buys. Some segments of the market have stalled; however this is a great time for other sectors.

Kevin Anderson, Commercial Real Estate Broker in the Pearl District, said the Pearl District has experienced incredible appreciation. A paired analysis shows appreciation has been in the area of 20% per year for commercial properties. (A paired analysis is a study comparing a property which sold, and then sold again a couple years later, with no work done.) In regards to residential properties, we have seen more than a 20% increase.

The formal designation of the Pearl District is 11th Street to 244, and from the downtown area to Utica Ave. We also try to include the businesses around the Pearl District.

An exciting development in the area, is the City of Tulsa funding for the Peoria Avenue bus rapid transit system. This will provide buses along Peoria, every 15 minutes, in each direction. Service is expected to continue into the evening and on weekends. The Peoria route will be operational in August 2019, according to Tulsa Transit, and the 11th Street – 66 Route will be operation in 2021.

The addition of public transportation in the Pearl District will make a significant contribution to the development of the area. Reliable transportation is a necessity to meet the demands of people living in the community and visitors alike. If you live on Peoria, you’ll be able to take the bus downtown and save money on parking. In addition, when you own property along this corridor, it becomes transformed into more diverse use and higher demand.

To further re-invent and develop the area, a second Pearl District pond will go in, north of the VFW club. The pond will cover 3-4 blocks and will have a boardwalk around it. New housing developments are being built and are expected to open in March 2018. There are two restaurants coming in as well, and there are 130 businesses in the Pearl area.

If you are interested in buying and fixing up a home, TTCU Credit Union offers a home loan program which allows you to buy, and make home repairs. TTCU provides a home renovation loan, in which you can borrow up to $40,000 in a signature loan to make updates to your house, including light fixtures, kitchen, carpet, and/or bathroom. The home renovation loan allows you to do the work without having to get a traditional construction loan. The appraisal may be an issue on some types of repairs, however TTCU has addressed this.  They do the appraisal on the purchase price only and don’t take into consideration the improvements on the $40,000 signature loan. However, if your expenses are going to exceed $40,000, and you need to get a contractor involved to do more strenuous work, then you’re going to want to get a construction loan. On a construction loan, TTCU will provide the appraisal on the completed house, not on the current condition. Visit ttcu.com to fill out an application online, or get more information.

If you’re interested in commercial property in the Pearl District, contact Kevin Anderson, commercial real estate broker at Kevin Anderson and Associates via email:  kevinanderson@tulsarealtors.com or phone 918-406-3197.

Schedule an appointment with The Baskin Real Estate Specialists, with no cost or obligation, visit askinforbaskin.com.

 

Featured Properties

  • 7201 W Edison St – Beautiful setting, less than 12 minutes from downtown Tulsa, 6BR, updated Kosher kitchen, 24-stall barn with many possibilities. Listed at $1,750,000
  • 1013 S Cypress Ave – Located in Broken Arrow, 5BR, 3-car garage, Union Schools, over 3,000 SF, downstairs master suite. Listed at $279,900
  • 3510 E 104th Place – Located in Tulsa, nearly 1 acre, 1-level home, 3,400 SF, private master suite, updated kitchen, and new roof. Listed at $299,000
  • 30961 E 65th Street – Emerald Falls, new construction, backs up to former golf course. $40,000
  • 6708 S Atlanta Pl – Amazing buy! 5 bedrooms – 2 bedrooms on 1st level! Office with separate entry. New hardwood floor and plenty of closet space! Listed at $294,000

For a complete list of active listings, visit homeguidetulsa.com.

Photo Credit – tulsapearl.org

Map image – Google maps

 

Volunteer as a Child Advocate with Tulsa CASA

Click here to learn more about how Tulsa CASA advocates for children

Tulsa CASA (Court Appointed Special Advocates) is a non-profit organization which trains volunteers to speak in the best interest of abused and neglected children in the court system. Their purpose is to ensure kids in high-risk situations are given advocates to speak out for them in hopes of achieving the best possible outcome.

The CASA volunteers represent children in the court system by getting to know their circumstances and speaking on their behalf in court. The volunteers may meet with the child’s teachers, family, DHS workers, and therapist, then offer their recommendation to the judge.

A CASA volunteer plays a significant role in the lives of these children. Often, these children are moved from home to home and the CASA volunteer may be the only consistent person speaking for them. The CASA volunteer will remain in contact with the child until their case is closed, and may be the only person the child feels they can trust during this process.

If you wish to make a difference in the life of a child, please reach out to Tulsa CASA at (918) 584-5740 and visit their website at tulsacasa.org.

Darryl Baskin features non-profit organizations on his radio show, “The Future of Real Estate”. If you know of a non-profit organization we can feature, please reach out.

For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732, or schedule an appointment at askinforbaskin.com  

How to Hit a Home Run as a First Time Home Buyer in the Tulsa Area

Click here to join “The Future of Real Estate” and learn more tips on how to have a smooth process when buying a home

Trina Davis, of eXp Realty, invites you to join her for a free 30-minute consultation over a cup of coffee. There’s no cost, or obligation, to sit down and have an interview. You can reach out to Trina at 918-906-2649.

Buying a home is one of the best ways to build wealth and create stability. As you begin the process of buying a home, take time to sit down and interview agents. Look past the hype and excitement of buying a house and review the necessary facts.

One of the first steps to pursue when buying a home is to get your finances in order. Meet with a lender to get pre-approval and set a budget. This process will help you to know how much you have to work with, and establish realistic expectations from the beginning.

Pre-Qualified vs. Pre-Approval

When seeking your pre-approval letter, there’s a difference between “pre-approved” and “pre-qualified”.

Pre-Qualification

The lender accepts your application, the information you give them, and they say “you qualify for this amount of money”. They may provide you with a letter which says you are pre-qualified. However, the pre-qualification doesn’t actually go through the steps to verify the information is correct. It’s not a pre-approval. The letter may say “subject to verification of assets, income, or employment”.

Pre-Approval

A pre-approval letter is a reliable letter which indicates the applicant has been through underwriting. The information has been verified, including income and assets. This letter assures the real estate agent and seller, that the lender qualifies for “this much” money. Therefore, if the lender submits a contract, you can rely on it, and that they are ready to proceed.

TTCU Federal Credit Union offers options which are great for first-time home buyers, including two conventional type loans which allow for no money down, however the buyer is responsible for closing costs. Keep in mind, down payments and closing costs are separate. The down payment is the amount being paid towards the home, while closing costs include all the “extras”, such as taxes, insurance, escrow, and lender fees. Additionally, TTCU Federal Credit Union will take 0.125 percent off your interest rate when you close with them; the loan must be a purchase transaction and close at Integrity Title and Closing. TTCU offers some of the lowest closing costs in Tulsa! Visit ttcu.com to fill out an application online, or get more information.

This stage of the home buying process isn’t glamorous or fun, but it is the foundation of your home search. It’s possible your dream home receives multiple offers. Having your pre-approval letter from a reliable lender may help your offer get accepted.

While buying your first home is exciting, there’s a potential for issues to arise along the way. It truly helps when you choose a Realtor® who is experienced and knows how to try and prevent these issues from arising.

Schedule an appointment with The Baskin Real Estate Specialists, with no cost or obligation, visit askinforbaskin.com.

 

Featured Properties

  • 7957 S 78th East Ave. – Located in Sweetbriar. Wonderful layout with 3 bedrooms downstairs plus bedroom suite and theater upstairs. Semi-detached office w/outside entrance, outdoor living area. Great value! Listed at $225,000
  • 6708 S Atlanta Pl – Spacious home with 4500 SF; 2 bedrooms on first floor, 2 upstairs with possible 5th bedroom, formal living, dining, and family rooms. New hardwood floor and plenty of closet space! Office with separate entrance and Circle driveway. Listed at $294,000
  • 8954 W 51st Street – Well priced Grand Colonial home with beautiful entry! 9042 SF on 5 acres, 6 bedrooms, 6-full/2-half baths, chef’s kitchen, and 8-car garage. Listed at $999,999

For a complete list of active listings, visit homeguidetulsa.com.

Photo attribution: www.ccPixs.com