Home Seller Tips in Tulsa: What Does it Mean to “Buy a Listing”

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When listing your house for sale in Tulsa, take the time to interview your Real Estate Agent. Be careful not to fall into an agent’s trap of “buying your listing”. What does this mean?

As you prepare to put your home on the market, you’ll meet with agents to determine how much you should list your home. It’s tempting to choose the Realtor® who suggests the highest price. However, keep in mind that it’s their job to build a relationship with you, to work towards listing your home. One of the “traps” some agents use is to suggest a higher than expected asking price, essentially “buying your listing”.

However, your home isn’t sold until you have a buyer and closing is complete. If your home is overpriced and not receiving offers, it may stay on the market for a long time. Home buyers may then wonder if something is wrong with your house.

Don’t be tricked into thinking the best deal is the highest price. The best deal is getting to the closing table in a timely manner OR as soon as possible. Take the time to interview your Realtor® and hire based on qualifications. Download my FREE home seller report “20 Questions You Must Ask Your Next Realtor® Before You Sign on the Dotted Line for a complete list of questions to ask your real estate agent before listing your home for sale.

 

Featured Properties

6718 S Atlanta Ave., Tulsa – 4 Bedroom home in beautiful Williamsburg neighborhood. Updated kitchen with Stainless Steel appliances. Short Sale subject to lender approval. Listed at $245,000

7201 W Edison Street – 55 acres luxury home with 6 bedrooms, 5 full baths, and an amazing kitchen with 3 Sub-Zeros. Property includes a 24 stall barn with living quarters. Listed at $1,750,000

6122 S Garnett Rd – Commercial property. One vacant space in the front. Back half is vacant. Located in a commercial location at the high traffic intersection of 61st and Garnett. Listed at $990,000

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

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

When Is the Best Time to Lock in an Interest Rate in Tulsa?

During the radio show this week, a home buyer asked a great question. “I’m buying a second home and expect to close in December. Should I lock in an interest rate soon, or wait?”

 

Interest rates are constantly going up and down. If you lock in now, rates may go down afterwards. On the other hand, if wait too long, you have to accept what you get. When is the best time to lock in an interest rate? Why is it important?

The interest rate affects how much you’re paying for the money which you’re borrowing. Therefore, a lower rate means a lower payment. However, there are a lot of things happening in our world which affect market cycles, creating uncertainty.

It’s important you work with a lending professional who can analyze the bond market and explain what’s happening. For example, if we look at this year, bonds have been up and down considerably, with a low point in mid-September. During this time, the country was experiencing hurricanes and threats from North Korea, causing investors to wonder where the safest place to invest money was. They decided to invest in bonds, driving the cost of bonds down. As a result, at that moment, you could’ve gotten the lowest interest rate available this year. Looking at it now, 30 days later, we have returned to the average rate of 2017. If interest rates look high right now, it’s because they were recently low.

One year ago, you would’ve paid 1 point lower, but rates are trending up. The best advice is to talk with your lender and review all options. Consider what’s most important to you. The difference in interest rates between now and December is anticipated to be an eighth of a percent. Is it more important to you to save in interest, or to feel secure as a property owner?

For more information on interest rate, or to complete a loan application online, contact Dan Newbury at TTCU Federal credit Union or visit ttcu.com

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

 

Photo Reference: 401kcalculator.org

Why You Get No Showings On Your House


Junior Achievement– Junior Achievement teaches kids the economics of life.  JA volunteers go into the classroom and teach a pre-written curriculum while imparting personal experience.  JA teaches kids all about the stock market, running a business, interviewing, reading utility meters, paying bills, balancing a checkbook and much more.  These important lessons can help young adults become more successful in life and can even help them have more respect for parents as they realize all they must do to provide for their family.  JA Volunteers add credibility to what a teacher may already be teaching.  For more information on Junior Achievement contact them at tulsa.ja.org.

 

What do you do when someone says, “I am going to call my attorney and get this straightened out!” ?  When there is a threat of an attorney getting involved there should not be great alarm if you are doing things right.  When the attorney comes in and looks at the process and checks things out, they will be able to tell the client that things are being done correctly.  It can often be a fear driven situation because the person doesn’t trust what is happening.  When you are working with others, always try to maintain a trustworthy relationship with them.  Let the process work through if an attorney gets involved.  If you are doing things right, there shouldn’t be many problems. For more real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.

 

Extending the Life of Your Appliances–  If you use electricity and technology, you will eventually have a problem with the electricity going out.  Many don’t realize though that you will get little spikes in your power regularly.  This can come from the electric company and from your appliances as well.  These surges can cause problems with newer digital devices.  Surge protectors will level out the voltage and you won’t see the problems in your devices like you would without one.  You can get a surge protector with an indicator light on your surge protector that will tell you that your surge protector is still good.  Joules are the rating on a surge protector.  The higher the joules the better your protection.  In addition to the surge protectors you can purchase in the store, you can pay to have a whole house surge protector installed.  If you have ever had a problem with damage to your home or device you will likely realize the value that a $300 surge protector installed can save your thousands of dollars.  If you have one panel downstairs and another panel upstairs or on the other side of the house, each should have its own surge protectors. Surge protectors will also extend the life of your appliances, heater and air-conditioner, and lights.   For more information on whole house surge protectors or Tulsa electrical repairs contact Murray Electric at 918-835-9605 or murrayelectric.com.

 

If I am not getting any showings, is it my agents fault?  First, it is unethical for any realtor to come in and try to interfere with the relationship you have with your realtor.  For example, they shouldn’t tell you that your agent is doing an awful job.  Next, consider this:  Is your house up to date?  Look at how it compares to others.  Realize that if your house is priced 10-12% above others, it will be ruled out by buyers before they ever come look.  Also, consider if your online pictures are nice?  If your online pictures aren’t nice your home will also likely get ruled out because they have others to look at.  Finally, is your agent representing it well online?  Is the data accurate, the pictures look good (good quality), is he responding to phone calls and emails when someone is acquiring?

If you want to hold your agent responsible, realize this:  there are thousands of agents in the Tulsa area that have access to the Tulsa MLS.  Even if you have a really bad agent, if he got the information online properly, then you should have some activity.  If you have absolutely no activity, it could likely be coming down to price and market demand for your property.  An in-depth market evaluation should be done which includes the absorption rate.  For more real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.

 

Tulsa real estate for sale

One Address, Thousands of Homes- HomeGuideTulsa.com

3909 N Battle Creek Drive Broken Arrow- $400,000- gated community, about 4000 square feet, 4+bedrooms, plus so much more.

8954 W 51st Street Tulsa-$999,999- 5 acres, over 9000 square feet per appraisal, pond, beautiful entry, huge dining room, much more.

10653 S 68th East Avenue Tulsa- $410,000- Forest Trails, large lots, mature trees, mother in law suite, two masters.

6630-6632 S 78th East Avenue Tulsa- $249,000- Duplex, half is vacant, half is leased, great opportunity for income from half and to occupy the other half.

The Future of Real Estate Discusses Homeowners Association Trouble at Closing

Avoiding Trouble with your Tulsa Homeowner’s Association at Closing–  Understanding what happens with your Tulsa HOA and how to navigate it is part of the process of closing your Tulsa home.  When you first decide to put your Tulsa house on the market. have the restrictive covenant made available up front.  That will make the process go a little more smoothly when a contract is accepted on your Tulsa home.  It will also make the covenants available immediately upon request from either agent.  Also make sure your HOA dues are paid in full and there are no past due payments. If they are not paid, they will be taken out of your proceeds at closing.   When you close you must get a clear HOA letter from your HOA.  If you or your Tulsa county abstracting company  can’t get a hold of someone, there might need to be an affidavit signed or they will have to track down the HOA management company to get the information or letter that is needed.  Make sure you give your HOA plenty of notice of the sale or listing of your house so that you are not scrambling at the last minute to get the documents needed for closing.  For all your questions related to closing on your Tulsa home for sale or abstracts on your Tulsa home, contact Guaranty Abstract at 918- 496-9090 or www.guarantyabstract.com.

 

What to Do When Your Light Stays on When the Light Switch is Off– Have you ever turned your light switch off only to have the light bulb stay on?  In some situations, especially with an LED bulb, if there is any current coming through it will light the LED bulb even when the switch is turned off.  If you have a dimmer on that switch, it is possible the dimmer is not zeroing out when the light switch is turned off.  Likely, you can simply switch out the dimmer switch to one that is rated for LED bulbs.  Every electronic device in your Tulsa home is drawing power even when you have it off. If it is plugged in, it is drawing power.   There are special outlet plugs that shut down all electricity to the device when the device is powered off.  This can be helpful for certain devices that are not used as often but are still plugged in.

 

What is it That Gets You Caught on Unlicensed Work on Your Home?  If a Tulsa home isn’t going to be your forever home, be especially cautious.  Many homeowners think they will save money by doing the work themselves or by hiring someone unlicensed.  The problem occurs when the Tulsa homeowner goes to sell the home and an inspector notices that the work was not done to code. Often, the work done initially, that saved the owner so much money, costs much more to repair later.  That is often much more than if a professional was paid to do the work to begin with.  Many of the problems we encounter are simple but will cost someone to fix because it wasn’t done properly.  It is important to have licensed professionals do the repairs because the buyer does not want to buy someone else’s problem.  The inspector is likely to find things that are not done to code and will report it.  The buyer doesn’t want to buy that problem so as the home seller, you will likely be paying to fix it in order to sell the home.  Also remember to check and find out if you need a permit before you do any work.  If you want the value of your home to be as high as it can be, either for you or for your family, use a licensed professional up front.  For all your Tulsa electrical needs, contact Murray Electric at 918-835-9605 or www.murrayelectric.com.

 

The Differences of VA Loans– When it comes to closing your Tulsa home, there are some differences.  You  must have a DD214 when getting a VA Loan.  With a VA loan you are not required to pay mortgage insurance, which is generally required when you don’t make a 20% downpayment.  The VA guarantees the loan and you can get 100% financing and zero downpayment.  There is some difference in the VA loan process however.  On the closing side, most of the time, the seller will pay for the termite inspection (roughly $100).  There are also some lender fees that show up in this type of loan.  The seller is required to pay certain fees that the Tulsa buyer is not allowed to pay.  The lender sets those fees.  Make sure you know what those fees are, since each lender has different fees at different rates.  As a seller, you may need to set limits about which lenders you will work with, if the fees are very high.  Most of the time the fees are pretty low, however always make sure that you check up front. It is important to choose a Tulsa lender that has reasonable fees and is committed to getting to closing.  For all your Tulsa mortgage needs, contact TTCU The Credit Union at 918-749-8828   or www.ttcu.com.

 

 Tulsa Real Estate For Sale on Tulsa MLS

5101-5103 E 32nd Street Tulsa-$159,900- Duplex, 4 total bedrooms, 4 total bathrooms, 2 bedrooms and bathrooms in each side. One side is currently vacant.

1004 S Willow Avenue Broken Arrow- $215,000- 3 car garage, Union Schools, over 2500 square feet, new paint inside, large rooms.

7201 W Edison Street Tulsa- $1,750,000- 55 acres, beautifully remodeled home, custom Kosher kitchen with 3 sub zero refrigerators, 24 stall barn, plus more.

6718 S Atlanta Avenue Tulsa-$245,000- Short sale, 4 bedrooms, 2 full 1 half bathrooms, great convenient neighborhood.

For all your Tulsa real estate needs, contact Darryl Baskin of eXp Realty at 918-732-9732 or for One Address, Thousands of Homes and the entire Tulsa MLS visit HomeGuideTulsa.

Beautiful Horse Ranch on 55 Acres

 

This beautiful Tulsa luxury property  is located at 7201 West Edison.  This home features a 55 acre horse ranch with 6 bedrooms, 5 full 2 half bathrooms, and over 6200 square feet (per Courthhouse) and is priced at $1,750,000.  In addition, you will find a 24 stall horse barn and a remodeled kosher kitchen all within 5 minutes of Downtown Tulsa.  For more information on this gorgeous ranch visit the 7201 W Edison public information folder or the eXp Realty information page.