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