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Brick home

The Encino

The Listing of the Week is a brick home less than a mile from downtown Edmond that is suited to first-time buyers or an investor. PAGE 5E

The imaginative floor plan, three hexagonal modules joined by two rectangles, invites curiosity from onlookers and creates numerous interior angles. PAGE 7E






YUKON — Here’s a story Genie Vinson won’t tell you herself: A gentleman stranded in Yukon, unable to afford a $100 part to fix his car, was referred to Compassionate Hands, the outreach organization formed 20 years ago by the Yukon Ministerial Alliance to provide aid on a case-by-case basis to Yukon’s neediest cases. But it was a tough month. Compassionate Hands, a nonprofit that operates on donations and grants, was down to its last $24. “Thank goodness Genie happened to drive by,” said Theresa Sanders, director of Compassionate Hands since 2007. Vinson, apprised of the situation, paid for the part herself and got the man on his way. “Genie is always willing to help,” Sanders said. Sanders said Vinson personally solicits “thousands of dollars a year” in donations for the agency. “When you live on donations, you need dedicated volunteers” like Vinson, she said. Vinson, a 28-year veteran Realtor and an associate with Keller Williams Realty in Yukon, said she’s just proud that Compassionate Hands can make a difference in so many lives. Her fellow Realtors recognized her dedication to the organization late last year with the Open Door Award presented by the Oklahoma Association of Realtors. The award is presented to Realtors who “give unselfishly to improve the world around them through community service,” said Joe Pryor, president of the association and an associate with Redbud Realty & Associates in Edmond. The Realtors group presented the $1,000


BIRTHDAY SURPRISE FOR WIDOW Jeanette Ogle, a 92-year-old widow with a reverse mortgage on her house, got a huge birthday surprise last week: She did not lose her home at a scheduled foreclosure auction after all. PAGE 3E



Genie Vinson, a longtime Realtor who is with Keller Williams Realty in Yukon, received the Open Door Award late last year from the Oklahoma Association of Realtors for her work with Compassionate Friends of Yukon. She is shown at one of her listings, 1600 Kingsgate in Yukon. PHOTOS BY DAVID MCDANIEL, THE OKLAHOMAN

SCAN IT To see a related video, scan the QR code below or go to

award to Compassionate Hands in Vinson’s name. Vinson has served multiple terms on the Compassionate Hands board, in addition to knocking on doors and working the phones when the organization’s two annual fundSEE VINSON, PAGE 2E

Genie Vinson of Keller Williams Realty has this home listed for sale for $280,000 at 1600 Kingsgate in Yukon.

Moving and shaking in retirement Financial advisers have long cautioned retirees to avoid taking on mortgage debt when they buy a home. But some find it unavoidable — even when they’re downsizing to a smaller property in a more affordable real estate market. Rodney Harrell, a housing policy adviser for AARP, said older homeowners are increasingly likely to keep facing mortgage payments in their later years. In fact, a majority of owners over 55 now have mortgages versus a minority in 1989. The data — the most recent available — show a dramatic change. Economic factors are the key reason why fewer retirees are able to buy a different property without taking out a home loan. “Housing costs have gone up higher than incomes,” Harrell said. Facing a substantial monthly mortgage payment can be especially troublesome for retirees, who are often beginning to face health problems. The risk to those with a mortgage is that they’ll lack the funds to pay for both housing and health care, including their medicine. They may also want to

Ellen James Martin SMART MOVES

have enough of a cash reserve to pursue interests and hobbies in their retirement years. Here are a few pointers for retired or soon-to-retire homebuyers: I Design your housing agenda in the context of a larger life plan. Sheryl Garrett, founder and CEO of the Garrett Planning Network, a nationwide network of fee-only financial advisers, said that for most people a home purchase in retirement involves lifestyle changes and trade-offs. Such trade-offs, she said, are highly personal and best made after a period of reflection and planning. As a first step for couples seeking to identify their strongest personal interests, Garrett recommends that couples do one of the pencil-and-paper exercises she

outlines in one of her many books, “Personal Finance Workbook for Dummies.” Working separately, the partners write down 30 things they’d like to experience, see or do. Then they classify these as A, B or C level desires. Finally, the partners share their lists with each other. They then focus on the high-priority items. To gain a broad understanding of retirement and how to balance your financial and personal plans before committing to a home purchase, Garrett recommends a book called “The New Retirementality” by Mitch Anthony. I Do an inventory of your savings for retirement. Any comprehensive plan focused on cash-flow concerns in the present should also factor in long-term financial needs, said Eric Tyson, a personal finance expert and author of “Mind Over Money: Your Path to Wealth and Happiness.” To gauge how well-prepared you are for a potentially long period of retirement, he suggests you use the free planning calculators provided by such mutual fund companies as Vanguard and T.

Rowe Price. “Before making any mortgage commitment, the sensible thing is to first tally up your assets and liabilities. Making a move doesn’t mean you have to be house poor. But you do need to plan,” said Tyson, co-author of “Home Buying for Dummies.” I Take into account the extra time a bigger property could cost you. Suppose your housing dream involves a much bigger property complete with elaborate gardens. If an assessment of your finances indicates you could afford it, should you go ahead on that basis alone? Not without considering the implications for your time, Tyson said. “Time is precious, especially in retirement. And keeping up a really big home can be draining on both the physical and emotional levels,” Tyson said. “For a lot of retired people, spending time with friends and family is more important than keeping up a big house.” To contact Ellen James Martin, email her at UNIVERSAL UCLICK

3M Patch Plus Primer eliminates the need to prime spackled areas before painting. The spackling paste contains tiny particles that create a primer-like film on the surface, unlike other spackling products that can cause a change in paint sheen. The product dries fast and won’t shrink or crack, but it’s as strong as heavyweight spackling, the company said. It comes in a square package that accommodates a 3-inchwide putty knife. The product, suggested retail price $5.99, is available at home improvement centers and paint and hardware stores.

STUPID SOCK CREATURES Stupid Sock Creatures are what result when imagination runs wild. Crazy, no-holdsbarred wild. Artist John Murphy started making little stuffed monsters called Stupid Creatures back in 2003 as an outlet for his off-the-wall ingenuity and a way to pay his bills. He eventually wrote a how-to book on making lovably hideous creatures from socks, and now he’s back with a followup, “Return of the Stupid Sock Creatures: Evolutions, Mutations, and Other Creations.” Budding sock artists will be equipped to take on the projects in the book or branch out with their own brand of eccentricity. The book, published by Lark Crafts, sells for $17.95 in softcover. MCT INFORMATION SERVICES

INDEX Barry Stone Permits

4E 6E






Holstein-patterned stools add a touch of whimsy to the kitchen island at 1600 Kingsgate in Yukon.

This view of the entry is from the balcony at 1600 Kingsgate in Yukon.



Vinson: Enjoys real estate FROM PAGE 1E

raisers roll around. One fundraiser, Play Your Best Cards, was Feb. 15 at Yukon’s First United Methodist Church — “BYOC,” bring your own cards or other games. Participants were treated to kolaches made by the United Methodist Women group. Several Yukon businesses sponsored the event, providing lunch, snacks and tickets for some who might not have otherwise been able to attend. “We did really well,” Sanders said, with increased participation and donations over last year’s event. Next up is the Stiletto Fun Run, scheduled for May 2 in Yukon. In 2012 the event brought in more than $8,000 in donations — “thanks to Genie,” Sanders said. “We’re hoping to top $10,000 this year,” she added. Vinson said that she was attracted to Compassionate Hands because “they want to help people stuck in a cycle” to get out of it through counseling, budgeting classes and other practical outreach measures. “It’s just like I always tried to teach my own kids,” said Vinson, who raised her two sons in Yukon and now has seven grandchildren and 10 great-grandchildren. “I have a lot of boys,” Vinson added with a chuckle. Vinson said real estate has been a good career for her.

Play Your Best Cards, a fundraiser for Compassionate Hands, was Feb. 15 at First United Methodist Church in Yukon, with 132 players participating in games from bridge to Mah Jongg. PHOTO PROVIDED

“I’ve never been a 9to-5 person,” she said. She earned her real estate license and started working for Marolyn Pryor Realtors during what Vinson called “the height of the bust” of the mid-1980s. “Some of my listings had birthdays,” she recalled about houses that sat on the market for more than a year. Vinson said she “learned fast” how to handle lender-owned properties, wading through years’ worth of depressed inventory, always with the vision “to rebuild the community.” To this day, Vinson considers working as a Realtor her way of serving the Yukon community. She spent a recent morning preparing a new listing at 1600 Kingsgate Court, a 2,800-square foot home built in 1994 that she said features “tons of stor-

age” and a backyard putting green. The four-bedroom, four-bath, light-filled home is built around a spacious, granite-topped kitchen and an open living room-dining room with fireplace. The two-story house has two bedrooms downstairs, including a giant master suite. The upstairs bedrooms are linked to a central game room with wet bar, opening up to a deck with a view over the backyard. The home is listed for $280,000, or $100 a square foot. Vinson said that Yukon “did not participate” in the recession of the past several years, experiencing instead “a steady real estate market” throughout, although, she said, some buyers are still having trouble getting qualified for the financing they need.

Genie Vinson was competitor No. 5 at last year’s Stiletto Fun Run to raise money for Compassionate Hands in Yukon. The Oklahoma Association of Realtors recognized her contributions to the ecumenical ministry with an Open Door Award. PHOTO PROVIDED

BUSINESS BUSINESS NEWS P.O. BOX 25125, Oklahoma City, OK 73125 Fax: (405) 475-3996

DON MECOY Business Editor (405) 475-3942,

RICHARD MIZE Real Estate Editor (405) 475-3518,


Find real estate news on the Internet at


JERRY WAGNER Assistant Classified Advertising Manager (405) 475-3475, The home at 1600 Kingsgate in Yukon has an expansive master bath.








Foreclosure reversed for widow, 92 Marlene Ladd

Don Ladd

Ladds move to Paradigm Don and Marlene Ladd have moved to Paradigm AdvantEdge’s south office, 1530 SW 119, as real estate sales associates. Marlene Ladd was born in Stillwater, grew up in south Oklahoma City and has been selling real estate in the metro area for 36 years. Previously, she worked at Tinker Air Force Base for a number of years. Don Ladd is a lifetime resident of Oklahoma City and graduated from the University of Oklahoma with a degree in education. He taught in the Oklahoma City public school system for several years and then started a career in mortgage and banking.

Mark Murphy

Murphy moves to Paradigm Mark Murphy has moved to Paradigm AdvantEdge’s north office at 16301 N May Ave. as a residential real estate sales associate. He has worked in real estate sales for 15 years and specializes in historical homes and luxury homes in Oklahoma City and Edmond. After graduating from McGuinness High School, he attended the University of Oklahoma on a tennis scholarship and graduated with a bachelor’s of business administration in finance. He pursued graduate studies in tax accounting at the University of California at Los Angeles. Before turning to real estate, Murphy was the controller of a national law firm, a licensed securities executive for a West Coast investment company and was a production accountant in the making of several motion pictures. He achieved world ranking on the American Tennis Professionals Tour in 1986.

Misha McCollom

Churchill-Brown adds McCollom Misha McCollom has joined Churchill-Brown & Associates Realtors office at 4401 W Memorial Road as a real estate sales associate. Previously, she worked in retail management for nearly a decade.

WASHINGTON — Jeanette Ogle, a 92-year-old widow with a reverse mortgage on her house, got a huge birthday surprise last week: She did not lose her home at a scheduled foreclosure auction that had drawn scrutiny from federal and state agencies and consumer advocates. Because of obscure federal rules that critics say have snared unwitting elderly homeowners across the country, Ogle’s home in Lake Havasu City, Ariz., had been set for foreclosure Feb. 27, her birthday. But after interventions on her behalf by the federal Consumer Financial Protection Bureau, AARP and the Arizona attorney general’s office, the auction was canceled. In a letter to Ogle, the company that ordered the foreclosure, Reverse Mortgage Solutions Inc. of Spring, Texas, said it changed its plans and is now “committed to allow you to remain in your home” and will “take no action to displace you as long as the mortgage agreement … is not in default.” According to government estimates, more than 9 percent of all federally insured reverse mortgages — the ones hawked on TV by Henry “the Fonz” Winkler, among others — were in default in 2012. This is especially significant because so many reverse mortgage borrowers, like Ogle, are in their 80s and 90s, living on Social Security, and may be unaware of certain fine-print details about their


loans. Reverse mortgages work just as the name implies: Rather than the borrower paying the lender, the lender provides money to the homeowner, secured by a mortgage on their property. Borrowers under the most popular form of reverse loan, insured by the Federal Housing Administration, must be 62 or older to qualify. As a general rule, the principal and interest balances owed do not become due and payable until the borrower moves out, sells the house, dies or fails to pay property taxes or hazard insurance premiums. One technicality tucked away in FHA’s regulations can snag owners whose spouse dies after taking out the reverse mortgage. If the surviving spouse’s name does not appear on the mortgage documents, the outstanding debt balance becomes due and payable. If the surviving spouse can’t afford to buy the house to make the payoff, the property may be put up for foreclosure sale. Ogle’s situation illustrates the problem: She did nothing wrong. Ogle and her late husband, John,

who died in 2010, refinanced a reverse mortgage in 2007. Though Ogle believed her name remained on the mortgage documents and she was a co-borrower, a loan officer listed only John’s name. Ogle said she never agreed to her name being removed and suspects fraud. When her husband passed away, the loan balance became due and payable. Bank of America — the servicer of the mortgage on behalf of Fannie Mae, the big national loan investor — informed Ogle of the FHA rule. She complained to the Arizona attorney general’s office, which negotiated an agreement with Bank of America that it would not foreclose. Subsequently, however, when the servicing contract was transferred to Reverse Mortgage Solutions, that firm renewed the threat of foreclosure and set the date for the sale. Reverse Mortgage Solutions refused to comment on the matter. Meanwhile, Ogle’s son, Bob, filed complaints with the Consumer Financial Protection Bureau and with the state attorney general, seeking their help in saving his mother’s home. He told me in an interview that “I don’t think my mother could survive a move, she just couldn’t handle foreclosure.” Fannie Mae, owner of the loan, expressed sympathy for her situation and promised not to evict her, but would not postpone the scheduled foreclosure.

Prudential forms listing partnership FROM STAFF REPORTS

Prudential Alliance Realty has formed a Premium Listing Partnership with the nation’s second leading real estate website, “Our decision to create this partnership was an easy one. Trulia’s reach to homebuyers throughout the country will dramatically increase the already unsurpassed level of online exposure our sales professionals are able to provide their listed properties,” said Jared Kennedy, director of strategic operations for Prudential Alliance Realty. Charis Moreno, senior manager of strategic partnerships for Trulia, said that Premium Listings benefit from increased visibility on the website. “Sixty-eight percent of our audience are not on other real estate websites, and 61 percent plan to buy within the next six months. In addition, 42 percent are prequalified for a mortgage,” Moreno said.

“A Premium Listing on Trulia results in prominent placement among search results. When a visitor

searches for a home in the Oklahoma City area, Prudential listings will be highly visible.”

Oh, I’m on cloud nine. I’m staying put in my house.” JEANETTE OGLE


Enter the Consumer Financial Protection Bureau. Though precisely how it brokered the final resolution of Ogle’s problem has not been made public, its intervention into the case appears to have been a catalyst. Bank of America, which had made a promise in 2010 to Ogle not to foreclose simply because her name was missing from the documents, purchased her loan from Fannie Mae and now owns it. The bank then canceled the Feb. 27 auction. “We wanted to stay true to our commitment,” said Dan Frahm, a spokesman for Bank of America. “So we bought back the loan.” Ogle’s reaction? “Oh, I’m on cloud nine,” she said. “I’m staying put in my house. I don’t have to move. And even though I’m 92, I’ve got all my marbles — so everybody should know I plan to be around for a while.” Ken Harney’s email address is WASHINGTON POST WRITERS GROUP






What to do after your home inspection DEAR BARRY: We are buying a house. The home inspection is scheduled for next week, but we’re not sure what to do once we get the report. Is the inspection report just for our information, or can we use it to negotiate with the sellers? Can we walk away from the deal if we don’t like the report, or are we obligated to go ahead with the purchase? What can you tell us about this? Alan DEAR ALAN: A home inspection empowers you with essential options as a buyer, but with some limitations. In the majority of home sales, the deal is contingent upon the

buyers’ acceptance of the home inspection report. This means that you, as buyer, have a specified number of days to accept or decline the property in “as is” condition. If you decline acceptance, you have four basic choices: I Ask the sellers to make a few repairs. I Ask the sellers to make many repairs. I Ask the sellers to reduce the sales price. I Decline to purchase the property. If you request repairs or a price adjustment, based upon the home inspection report, the sellers also have choices. They can: I Agree to all of your re-


quests. I Agree to some of your requests. I Agree to none of your requests. I Decline to sell you the property. The sellers’ only obligation is to address defects that are named in the purchase contract or required by state and local laws. If the contract specifies an

“as is” sale, the sellers may refuse to make repairs of any kind or to adjust the price in any way. Lawful exceptions may include strapping water heaters for earthquake safety, providing smoke and carbon monoxide alarms in specified locations, or upgrading plumbing fixtures for water conservation. As long as you are in the contingency period of your transaction, the choice to buy the property or to walk away from the deal is entirely yours. This is your discovery period, the time to learn what you are buying and to decide whether to proceed with the purchase or to renegotiate the

terms of the sale. DEAR BARRY: We have old steel-frame windows in our home and would like to minimize heat loss. Rather than install dualpane replacement windows, we’d like to install inside windows and leave the old windows in place. This might not look as good, but we don’t want the mess and expense of removing the old windows. Do you think this is a good idea? Walter DEAR WALTER: Adding interior windows will probably reduce heat loss from your home, but vinyl-frame, dual-pane replacement windows are

likely to do this much more effectively. Removal of the old windows is not as messy and expensive as you might think and does not involve removing the frames from the walls. When replacement windows are installed, the old glass and dividers are removed, and the replacement windows are installed over the old metal frames. Check out the prices for replacement windows before buying the interior windows you had in mind. To write to Barry Stone, visit him on the web at ACTION COAST PUBLISHING

Home sales rise to 2nd-highest pace in 3 years BY THE ASSOCIATED PRESS

This Comcast XFinity console allows home customer Larry Schweber to control the all-digital security monitoring system at his Atlanta home. MCT PHOTOS

New technology monitors home from smartphone BY KRISTI E. SWARTZ The Atlanta Journal-Constitution

ATLANTA — Every day Larry Schweber can see his 8-year-old daughter come home from school, even while he’s at work. He gets a text message with a video clip every time someone walks through the front door of his home in Georgia’s Ansley Park neighborhood. The thermostats on the first floor start to rise automatically at 5:30 a.m. every day and then lower the temperature at 8:30 a.m., once everyone has left the house. The thermostats adjust again when Lily Schweber comes home after school and at night they rise to warm the bedrooms upstairs while the family is sleeping. Welcome to the “connected home,” the new way of managing your home’s security system, lights, temperature and entertainment systems. By using an app on a smartphone or tablet, consumers now can turn lights on and off, let in a delivery person or see whether their kids are doing their homework — from anywhere in the world. Programmable sensors and cameras help monitor movement, detect rising carbon monoxide levels and signal if there’s rising water so consumers know about possible burglaries, water leaks and other emergencies immediately. Companies are touting peace of mind as well as lower homeowner’s insurance and utility bills because of the extra layers of security and energy management. AT&T Mobility developed its Digital Life system in Atlanta and has been testing the system there and in Dallas. The nation’s No. 2 wireless company will start selling the packages in those cities and six other markets soon. The company is pushing the concept of having everything in your home re-

Comcast XFinity home customer Larry Schweber is able to watch TV shows remotely through his iPad or turn on his alarm, view video camera angles or turn on lights from his smartphone as part of the all-digital security monitoring system at his Atlanta home.

motely accessible from anywhere at any time, CEO Ralph de la Vega said. “This way you know if the (coffee) pot is off, the garage doors are down and what the weather is like,” de la Vega said, no matter where you are. For companies like AT&T Mobility and Comcast, already giants in the telecommunications industry, pushing into home automation is one way to expand their services and raise the competitive stakes. AT&T is selling its package to any consumer, regardless of wireless provider, giving the company the widest market options available. Customers of Comcast’s XFinity Home system also must have the company’s broadband Internet. But Comcast’s connected systems offer wider entertainment options that include Facebook and Pandora apps for your TV and the ability to download movies and TV shows and watch them on a smartphone or tablet. “It’s about taking your services with you or being

at your house when you can’t be,” said Charlie Herrin, Comcast’s senior vice president of product design. Home automation has been around for years, but the systems used to cost thousands of dollars, making them affordable only for the richest homeowners. Changes in technology and the ability to control the systems using smartphones and tablets have helped bring down the price and make them more widely available. “It’s something that will grow initially slowly,” said Roger Entner, a telecommunications analyst with Boston-based Recon Analytics. But, he said, once you’ve seen it, “you’re thinking, ‘I can use that, and it’s not that expensive.’” The systems — typically a package of cameras, sensors and other devices — range from $200 to $400 to buy, but can be more expensive depending on additional features. Service fees can start as low as $30 a month for some basic packages but can run more than $100 for premium

services. “The moment that the savings are really showing (on insurance and utility bills), that’s when this really becomes a no-brainer,” Entner said. Insurance companies offer discounts for additional home monitoring systems. The amount customers save depends on the type of monitoring service and features that are included, an Allstate spokesman said. Users of traditional home security systems are slow to add the “connected features,” said Jim Callahan, CEO of Atlanta’s Ackerman Security, which has transformed its systems from using traditional wires and landline phones to a wireless one that can be controlled by a remote device. About 25 percent to 30 percent of new customers want the additional thermostat monitoring systems, remote lock devices and cameras. “Not everybody we’re talking to is clamoring for it,” he said. MCT INFORMATION SERVICES

WASHINGTON — U.S. sales of previously occupied homes rose in January to the second-highest level in three years, a sign that the housing market is sustaining its recovery and helping bolster the economy. The National Association of Realtors said that sales rose 0.4 percent in January compared with December to a seasonally adjusted annual rate of 4.92 million. That was the second-highest sales pace since November 2009, when a temporary home buyer tax credit had boosted sales. The median price for a home sold in January was $173,600, a 12.3-percent increase from a year ago. Analysts said purchases would be higher if more homes were available. The supply of homes for sale dropped to nearly an eight-year low in January. The 1.74 million previously owned homes for sale at the end of January represented a 4.2-month supply at January’s sales pace. That’s the lowest supply since April 2008. Lawrence Yun, chief economist for the Realtors, said sellers normally begin listing homes in February in advance of the spring buying season. But he said this increase might not be enough to alleviate the tight supply. The inventory of homes for sale is 25.3 percent below the level a year ago, when there was a 6.2month supply of unsold homes. In December, sales declined to a seasonally adjusted annual rate of 4.9 million from 4.96 million in November, according to revised figures. The December drop was linked, in part, to the tight supply of homes. For all of 2012, sales rose to 4.66 million, according to revised estimates. That was 9.4 percent more than in 2011 and the most since 2007. But even with the


gain, sales were below the 5.5 million that economists associate with a healthy market. Analysts foresee further gains this year. Steady hiring and near-record-low mortgage rates have helped boost sales and prices in most markets. Still, sales are being held back by the low supply. First-time buyers, who are critical to a housing recovery, made up only 30 percent of sales in January, unchanged from December. That’s well below the 40 percent typical in a healthy market. And since the housing bubble burst more than six years ago, banks have imposed tighter credit standards and required larger down payments. Those policies have left many would-be buyers unable to qualify for super-low mortgage rates. The average U.S. rate on a 30-year fixed mortgage is 3.56 percent. That’s near the 3.31 percent reached in November, the lowest on records dating to 1971. Rising demand for homes is encouraging builders to step up production. In January, builders started construction at a seasonally adjusted annual rate of 890,000 homes. That was down from December but was still the third-highest pace since mid-2008 and nearly 24 percent above the level a year ago. And applications for building permits, a sign of future construction, rose in January to their highest point since June 2008.






Jason Bateman buys Borgnine estate BY LAUREN BEALE Los Angeles Times

LOS ANGELES — Actor Jason Bateman and his wife, actress Amanda Anka, are dropping anchor in the Beverly Crest area with the purchase of the estate of Ernest Borgnine for $3 million. The gated country English compound sits on a half-acre knoll. The 6,148square-foot home features a formal entry hall, a grand staircase, a paneled library, an office, a den, six bedrooms and seven bathrooms. There is a guesthouse and a swimming pool. Bateman, 44, stars in the comic film “Identify Thief,” released last month. He is known to generations of TV viewers for his roles in “Arrested Development” (2003-present) and “Valerie,” later retitled “The Hogan Family” (1986-91). Anka, 44, has appeared in “Bones” (2008), “Notes From the Underbelly” (2007) and “Beverly Hills, 90210” (1996). Borgnine, who died last year at 95, is remembered for his Oscar-winning performance in “Marty” (1955) and his work in the title role as commander of a madcap crew in the sitcom “McHale’s Navy” (1962-65). Until 2011 he was the voice of Mermaidman on “SpongeBob SquarePants.” The estate came on the market in October for the first time in 60 years, priced at $3.395 million.

Ready to ink a deal Pulitzer Prize-winning cartoonist Berkeley Breathed has listed his mountainside retreat in Santa Barbara, Calif., for $4.95 million. The 25-acre ocean-view estate, which includes a single-level custom home, a swimming pool, fruit trees and a guesthouse, was designed as a creative environment. Avocado ranches sit on both sides of

the property. Features include solar power, an art studio and a screening room where Breathed worked for the last 12 years on Hollywood projects, including “Mars Needs Moms” (2011) and “Secondhand Lions” (2003). There are five bedrooms, five bathrooms and 5,241 square feet of living space. He is selling the contemporary Mediterranean to be closer to his children’s school. “I’d gotten quite used to working high above the Santa Barbara clouds in a Xanadu-like studio that appears designed for Captain Nemo,” Breathed said. “Their particular school forced a painful decision to come back to downtown Earth.” Breathed, 55, won the Pulitzer for editorial cartooning in 1987 for “Bloom County.” Among the author, novelist and screenwriter’s other comic strips were “Outland” and “Opus.” His most recent film project is his novel “Flawed Dogs,” presently in development at DreamWorks Studios.

The Ernest Borgnine estate in the Beverly Crest neighborhood of Los Angeles sold for $3 million. It was listed for $3.395 million. MCT PHOTOS

Rock on — and on Hard Rock Cafe cofounder Peter Morton has made his mark on L.A.’s real estate scene of late, buying the old Elvis Presley estate in Beverly Hills at year-end for $9.8 million. But flying under the radar was his bigger offmarket purchase midyear for a property in Bel-Air at $25 million, public records show. Area real estate agents not involved in the transaction said Morton plans to take down the existing home and build another on the site. The estate had belonged to Joseph Farrell, who founded National Research Group Inc. in 1978 and brought market testing to Hollywood. Farrell died in December 2011. The gated Beverly Hills compound that Morton

Cartoonist Berkeley Breathed has listed his mountainside retreat in Santa Barbara, Calif., for $4.95 million.

bought — once home to the iconic rock ’n’ roll singer and his wife, Priscilla — encompasses 1.18 acres. The French


Regency-style house, built in 1958, features four bedrooms, five bathrooms, 5,367 square feet of living space and an attached

guesthouse. There is a swimming pool, a four-car carport and a motor court and spa. The property had been

listed in October at $12.995 million. MCT INFORMATION SERVICES

Duct cleaning gives some homeowners peace of mind BY AMY LORENTZEN Associated Press

The Listing of the Week is at 824 Cedar Crest Drive in Edmond.

The Listing of the Week is a brick home less than a mile from downtown Edmond that is suited to first-time buyers or an investor. The 1,006-square-foot home at 824 Cedar Crest Drive has three bedrooms, 1½ baths, one living room, one dining area and an at-

tached single-car garage. The living room has a ceiling fan. The kitchen has eating space and a ceiling fan. The master bedroom has a half-bath, ceiling fan and walk-in closet. The home has an open patio and a large backyard and a 2010 roof. The home, built in 1974,


is listed for $85,000 with Laurie Patterson, of Keller Williams Realty. For more information, call 3302626 or 826-2589. Nominations for Listing of the Week are welcome. Send a copy of the MLS information sheet on a single-family home to The Oklahoman, Richard Mize, P.O. Box 25125, Oklahoma City, OK 73125. Nominations may be faxed to 475-3996.

Mortgage insurer can sue for debt after short sale Q. I completed a short sale on my home, and the agreement didn’t address whether I still was on the hook for the forgiven debt. I was just served with a lawsuit from a mortgage insurance company that wants me to pay the deficiency. What’s going on? A: I’m seeing more of these lawsuits. A common misconception about private mortgage insurance is that it protects the borrower. In reality, while the borrower pays for this insurance, it actually is designed to protect your lender if you default on the mortgage. Not all loans have PMI. But if yours does, and you complete a short sale or


lose the home in foreclosure, your lender can make an insurance claim with the PMI company. The company then can stand in your lender’s shoes to try and collect the money back from you, a legal concept known as “subrogation.” The theory is that because your actions resulted in the insurer having to pay the claim, the company can seek repayment

from you. You can respond to this lawsuit by making the company prove it has the right to collect the deficiency, just as you would make the lender prove it has the right to foreclose. You may be able to settle with the insurer for less than the full amount you owe. Of course, if the deficiency had been previously waived by your lender in the short sale or foreclosure, you don’t have to worry about any of this. That’s why it’s so important to make sure the lender forgives the debt. Gary M. Singer is a Florida attorney and board-certified as an expert in real estate law by the Florida Bar. Send him questions online at or follow him on Twitter @GarySingerLaw. MCT INFORMATION SERVICES

John Santos, of Los Angeles, wants his home to be a healthy gathering place for family and friends, some of whom are recovering from major illness. As part of his effort, he recently had his home’s ductwork professionally cleaned. “I wanted to make certain the air that they were breathing was as clean as it possibly could be,” said Santos, 54, a high school technology teacher. “Especially living in a city like Los Angeles, where the air quality can really be poor and cleaning the air systems can provide value.” Although many homeowners consider duct cleaning a way to make their indoor air cleaner, research on whether it can really create a healthier home is in the early stages. The Environmental Protection Agency recommends looking into duct cleaning after fires, floods, pest infestations and in hazardous waste situations, or if you can see particles coming out of your ducts. Otherwise, the agency says it’s not necessary for the average household. Tom Keys, president of Atlantic Duct Cleaning in Sterling, Va., said his company has done more than 80,000 ductcleaning jobs, and that many customers report back that they have better air quality, a cleaner home and lower energy costs. “Most of the people who do it, do it for peace of mind,” Keys said. His company

A technician uses a brush to clean ductwork. AP PHOTO

has found all sorts of items in ductwork beyond dirt and grime, including class rings and rare baseball cards. Keys encourages homeowners to ask duct-cleaning technicians for evidence that there is dirt in the ducts that should be removed. Jodi Araujo, executive director of the National Air Duct Cleaners Association, said homeowners can tell when ducts are dirty by simply removing a register cover, inserting a camera and clicking a photo. On the other hand, John DeSilvia, a contractor and host of DIY Network’s “Rescue My Renovation,” doesn’t generally recommend duct cleaning to homeowners. It’s normal for dirt to accumulate and stick to the sides of air ducts, he said. The exception, he said, is if there’s visible mold growth. If you do have ductwork cleaned, he advises getting a few estimates and ensuring that the service you hire uses high-powered equipment to capture what they dislodge.




Permits Oklahoma City Frankfurt Short Bruza, 4001 N Lincoln Blvd., office, remodel, $5,000,000. Pascal Aughtry & Associates P.C., 14808 Metro Plaza Blvd., office-warehouse, erect, $1,600,000. Central Oklahoma Transportation & Parking Authority, 1503 Exchange Ave., automotive repairwash, erect, $520,000. Nextec Home LLC, 704 NW 151 Circle, residence, erect, $350,000. Success Construction, 15712 Laguna Drive, residence, erect, $350,000. TAP Architecture, 4019 S Pennsylvania Ave., church, remodel, $350,000. RJ Designs Inc., 5509 Hidden Fawn Circle, residence, erect, $310,000. Avalon Homes & Properties LLC, 15350 SE 41, residence, erect, $292,000. Bella Vista Homes LLC, 19624 Stratmore Way, residence, erect, $260,000. Hollingsworth Enterprises LLC, 6433 Whispering Grove Drive, residence, erect, $260,000. No name given, 4701 Horizon Blvd., residence, erect, $250,000. Jason Powers Homes Inc., 11004 Sturbridge Road, residence, erect, $245,000. J. Bentley Developments LLC, 4917 Old Lantern Way, residence, erect, $240,000. Prime Development, 8245 NW 159, residence, erect, $240,000. First Star Homes, doing business as Turner & Son Homes, 845 Whitetail Trail, residence, erect, $238,000. Jason Powers Homes Inc., 11329 Treemont Lane, residence, erect, $235,000. J. Hill Homes Inc., 2100 Sycamore Creek Ave., residence, erect, $230,000. Woodland Homes LLC, 9117 SW 36, residence, erect, $230,000. Glenstone Homes LLC, 1720 NW 197, residence, erect, $225,000. Glenstone Homes LLC, 1708 NW 197, residence, erect, $225,000. Olde Towne Homes LLC, 1037 SW 110 Terrace, residence, erect, $225,000. Manchester Elite Homes LLC, 14700 Stone Manor Drive, residence, erect, $221,650. Harvest Homes Properties LLC, 13105 NW 7, residence, erect, $220,000. Harvest Homes Properties LLC, 13121 NW 7, erect, erect, $220,000. Manchester Elite Homes LLC, 14908 Stone Manor Drive, residence, erect, $217,000. First Star Homes, doing business as Turner & Son Homes, 10704 Middlesbrough Lane, residence, erect, $215,500. Timber Craft Homes LLC, 8336 NW 141 Circle, residence, erect, $214,900. J. Hill Homes Inc., 4100 Wayfield Ave., residence, erect, $210,000. Todd Cooper Homes Inc., 10813 NW 35, residence, erect, $209,000. The RLA Co. Inc., 7213 Jack Drive, residence, erect, $207,000. Sooner Traditions LLC, 8229 NW 158, residence, erect, $197,824. Treasure Built Homes Inc., 7809 Jesse Trail, residence, erect, $185,000. Vesta Homes Inc., 12200 Chesterfield Lane, residence, erect, $185,000. Kimray Inc. Construction Department, 4500 N Cooper Ave., parking, install, $183,000. Baer Hall Homes, 224 SW 169, residence, erect, $180,000. Baer Hall Homes, 313 SW 171 Court, residence, erect, $180,000. Baer Hall Homes, 16825

Prado Drive, residence, erect, $180,000. Mark Samples Homes LLC, 7409 Jack Drive, residence, erect, $175,000. Dub Stone Construction Co., 737 SW 157, residence, erect, $172,057. Dub Stone Construction Co., 733 SW 157, residence, erect, $170,284. Dub Stone Construction Co., 720 SW 157, residence, erect, $168,194. Dub Stone Construction Co. 729 SW 157, residence, erect, $159,716. D.R. Horton, 16200 Wind Crest Way, residence, erect, $159,396. Tom Vorderlandwehr Inc., 9120 NW 90 Circle, residence, erect, $156,600. Ideal Homes of Norman LP, 18313 Allora Drive, residence, erect, $150,000. Monarch Properties LLC, 15512 Brook Hill Drive, residence, erect, $150,000. Mashburn Faires Homes LLC, 17008 Barcelona Drive, residence, erect, $144,700. D.R. Horton, 16213 Scissortail Drive, residence, erect, $142,635. Authentic Custom Homes LLC, 8004 Suttle Court, residence, erect, $138,000. D.R. Horton, 11016 SW 39 Court, residence, erect, $136,419. Perspectus Architecture, 1901 Northwest Expressway, retail sales, remodel, $130,000. Home Creations, 6524 NW 163 Terrace, residence, erect, $125,500. Home Creations, 16400 Friar Court, residence, erect, $122,300. Ideal Homes of Norman LP, 18401 Las Meninas Drive, residence, erect, $115,000. Harbor Homes, 16944 Madrid Circle, residence, erect, $110,000. Harbor Homes, 413 SW 170, residence, erect, $110,000. Rausch Coleman Homes LLC, 11425 SW 24, residence, erect, $109,000. Rausch Coleman Homes LLC, 2536 Canyon Creek Drive, residence, erect, $109,000. Rausch Coleman Homes LLC, 11424 SW 25 Terrace, residence, erect, $109,000. Home Creations, 3036 NW 181, residence, erect, $108,400. Sooner Traditions LLC, 19425 Vista Ave., residence, erect, $108,000. Home Creations, 10012 Allie Hope Lane, residence, erect, $102,800. Home Creations, 10001 Summerhill Lane, residence, erect, $100,800. Rausch Coleman Homes LLC, 8405 SW 48, residence, erect, $100,000. Rausch Coleman Homes LLC, 4521 Hunter Blvd., residence, erect, $100,000. Home Creations, 3040 NW 181, residence, erect, $97,500. Cornerstone Group LLC, 14100 Georgian Way, residence, erect, $95,000. Cornerstone Group LLC, 9101 NW 141, residence, erect, $92,000. Cornerstone Group LLC, 14108 Georgian Way, residence, erect, $92,000. Cresap Capital LLC, 2317 NW 195, residence, erect, $90,000. Cornerstone Group LLC, 14104 Georgian Way, residence, erect, $85,000. Cornerstone Group LLC, 9105 NW 141, residence, erect, $85,000. Home Creations, 2352 NW 197, residence, erect, $84,000. Salazar Roofing & Construction Inc., 11510 NW 121 Place, residence-attached, erect, $80,000. Home Creations, 5705 Marblewood Drive, residence, erect, $79,500. Ideal Homes of Norman LP, 1208 SW 151Circle, residence, erect, $77,000. Mashburn Faires Homes LLC, 1604 SW 82, resi-

REAL ESTATE dence, erect, $75,300. Mashburn Faires Homes LLC, 1612 SW 82, residence, erect, $75,300. Mashburn Faires Homes LLC, 1608 SW 82, residence, erect, $75,300. Westpoint Homes, 15912 Burkett Circle, residence, erect, $70,000. Florida Construction, 2409 Coles Creek Lane, residence, erect, $40,000. Florida Construction, 11712 SW 24 Terrace, residence, erect, $40,000. Breof Bnk 2 Southwest LLC, in care of CB Richard Ellis-Oklahoma, 6303 N Portland Ave., office, remodel, $40,000. Myers & Associates, 3415 S Interstate 35 Service Road, automotive repairwash, remodel, $30,000. Prestige Landscape Solutions, 3224 NW 177, residence, add-on, $28,500. Leann Jenkins, 8500 E Memorial Road, accessory, erect, $27,000. AT&T Mobility, 506 S Broadway Ave., tower-antenna, install, $25,000. Cornerstone Construction, 600 N Meridian Ave., office-warehouse, remodel, $22,000. Larry Pickering, 900 N Broadway Ave., retail sales, remodel, $20,000. NEOK, 331 S Cemetery Road, retail sales, remodel, $15,000. Mike L. Pomeroy, 6524 SE 149, accessory, erect, $14,800. Presidential Construction, 1333 Cornell Parkway, office-warehouse, remodel, $12,390. Nicole Mitscher, 19925 SE 134, manufactured home, move-on, $11,000. Hill & Co., 5127 NW 5 Place, shell building, remodel, $10,000. S. Thomas Frameworks LLC, 12229 Edna Road, residence, fire restoration, $10,000. Hector Marinelarena, 1810 Exchange Ave., residence, add-on, $8,000. Ewing Construction, 1008 SE 29, temporary building, move-on, $5,000. Jason Bodily, 19401 Chestermere Circle, storm shelter, install-storm shelter, $5,000. Ana Alicia Machado, 9328 SW 24, residence, install-storm shelter, $4,295. Marianne Dunlap, 3148 Elmwood Ave., storm shelter, install-storm shelter, $4,200. Daniel Hansing, 13216 SW 2, storm shelter, install-storm shelter, $4,195. Ray Corey, 12908 Cedar Springs Road, storm shelter, install-storm shelter, $4,195. Harold Seeley, 2504 SW 123, storm shelter, installstorm shelter, $4,000. Luis F. Gaxioa, 5416 S Agnew Ave., canopy-carport, add-on, $4,000. John Ketcher, 12040 SW 13, storm shelter, installstorm shelter, $3,995. Jonathan Miller, 16330 SE 52, storm shelter, install-storm shelter, $3,995. Jesse and Juanita Reed, 4816 SW 126 Terrace, storm shelter, install-storm shelter, $3,975. Robert Unsell, 8901 Oakmont Valley Drive, storm shelter, installstorm shelter, $3,800. Stacey Johnston, 10205 Middlesbrough Lane, storm shelter, install, $3,800. Keri Knutson, 18021Cerrado Circle, storm shelter, install-storm shelter, $3,700. Shawn Simpson, 1400 NW 175 Court, storm shelter, install-storm shelter, $3,700. James Bland, 14737 Rochefort Lane, storm shelter, install-storm shelter, $3,690. Supreme Bright Brick Town LLC, 101 E Main, temporary building, moveon, $3,600. Brian and Rhonda Jeffrey, 2709 SW 114, storm

Home ownership seminar March 9 MUSTANG — Rausch Coleman Homes LLC will present a new home ownership seminar free for the public from 11a.m. to 1p.m. March 9 at Mustang Community Center, 1201 N Mustang Road. Rausch Coleman Homes’ preferred lender,

First Mortgage Co., will have a representative on hand to answer questions about home loans. American Eagle Title Co. will provide lunch and refreshments. For more information, call Sandy Vereb, sales and marketing director for

Rausch Coleman Homes, at 694-5353. Or call community managers Mandy Allee at 420-1616 or Kristy Stevens at 208-2684. Canyon Creek and Brighton Point are Rausch Coleman Homes’ Mustang-area neighborhoods.

shelter, install-storm shelter, $3,500. David Belk, 2728 SE 93, residence, remodel, $3,500. Alan Peters, 16217 Royal Crest Lane, storm shelter, install-storm shelter, $3,400. Richard Nixon, 714 NW 95, storm shelter, installstorm shelter, $3,400. Alexander Martinez, 13604 Rachel Court, storm shelter, install-storm shelter, $3,200. Dustin Bolton, 1215 NW 112, storm shelter, installstorm shelter, $3,200. Julian Cowart, 9113 NW 91 Circle, storm shelter, install-storm shelter, $3,200. Justin Sherman, 3612 Frisco Ranch Drive, storm shelter, install-storm shelter, $3,200. Michael Dougherty, 6920 Briarcreek Drive, storm shelter, installstorm shelter, $3,200. Sarah Morgan, 3201 Canyon Road, storm shelter, install-storm shelter, $3,200. Flat Safe, 11740 SW 16, storm shelter, installstorm shelter, $3,150. Patrick Martinek, 4102 N Barr Ave., storm shelter, install-storm shelter, $3,150. Gregory Scott, 2409 SW 116, storm shelter, installstorm shelter, $3,000. Ground Zero, 11300 Kingsgate Lane, storm shelter, install-storm shelter, $3,000. Jeff Martens, 9320 SW 24, storm shelter, installstorm shelter, $3,000. Jeffrey Logan, 13517 McRaines Road, residence, install-storm shelter, $3,000. Kuejuan Dixon, 904 NW 196 Place, storm shelter, install-storm shelter, $3,000. Michael Nickell, 2712 SW 139, storm shelter, install-storm shelter, $3,000. Mike Salek, 5416 Lazy Fawn Trail, storm shelter, install-storm shelter, $3,000. Rong Zhin Gan, 6401 NW 134, storm shelter, install-storm shelter, $3,000. Timberlake, 14808 Metro Plaza Blvd., temporary building, move-on, $3,000. Tyler Outdoor Advertising, 4605 S Walker Ave., bus shelter, install, $3,000. Tyler Outdoor Advertising, 6241 N Western Ave., bus shelter, install, $3,000. Aaron Crowder, 3413 Nottingham Place, storm shelter, install-storm shelter, $2,995. Ken Gray, 16265 Scotland Way, storm shelter, install-storm shelter, $2,995. Terry Handley, 19700 Harness Court, storm shelter, install-storm shelter, $2,995. Steven Holmes, 6317 Blue Stem West Road, storm shelter, installstorm shelter, $2,920. George Bradley, 8400 NW 122 Circle, storm shelter, install-storm shelter, $2,915. Hosang Jin, 2504 NW 182, storm shelter, installstorm shelter, $2,850. Matthew Tonay, 4720 Granite Drive, storm shelter, install-storm shelter, $2,850. Paul Harless, 11004 SW 8, storm shelter, installstorm shelter, $2,850. Denver Moore, 13208 NW 4, storm shelter, install-storm shelter, $2,800. Linda and Terry Morgan, 13225 Cedar Springs Road, storm shelter, installstorm shelter, $2,800. Roy Trevino, 1200 SW 126, storm shelter, install-


storm shelter, $2,800. Stephanie Oseland, 3508 NW 65, storm shelter, install-storm shelter, $2,800. Alana Fishback, 9013 Davis Ave., storm shelter, install-storm shelter, $2,795. Blake Reeves, 3213 Wexford Ave., storm shelter, install-storm shelter, $2,795. Dinh Le, 3109 SW 139, storm shelter, installstorm shelter, $2,795. Don Washington, 2304 NW 158, storm shelter, install-storm shelter, $2,795. James Hawkins, 2133 Mulberry Creek Ave., storm shelter, installstorm shelter, $2,795. Jim Graham, 18124 Viento Drive, storm shelter, install-storm shelter, $2,795. John Park, 829 NW 141, storm shelter, installstorm shelter, $2,795. Kyle Swabb, 2317 NW 159 Terrace, storm shelter, install-storm shelter, $2,795. Melissa Mahanes, 15909 Positano Drive, storm shelter, install-storm shelter, $2,795. My Dinh, 6700 NW 110 Court, storm shelter, install-storm shelter, $2,795. Nabor Cortez, 1513 NW 125, storm shelter, installstorm shelter, $2,795. Scott Hobson, 10812 NW 38 Terrace, storm shelter, install-storm shelter, $2,795. Scott Tarvin, 3204 SW 139, storm shelter, installstorm shelter, $2,795. Stephen England, 16405 Village Green Drive, storm shelter, install-storm shelter, $2,795. Victor Sanchez, 1229 SW 92, storm shelter, installstorm shelter, $2,795. Zayne and Desiree Walters, 15709 Sky Run Drive, storm shelter, installstorm shelter, $2,795. Jamie Russell, 8900 NW 84, storm shelter, installstorm shelter, $2,700. Haylee McMurry, 15509 Wood Creek Lane, storm shelter, install-storm shelter, $2,690. Courtney Tyson, 316 NW 155, storm shelter, install, $2,650. Kent and Nancy Hanebaun, 9611 Horseshoe Road, storm shelter, install-storm shelter,

$2,600. Phillip and Christina Fina, 17200 Melodie Lane, storm shelter, installstorm shelter, $2,600. Terry L. Ellis, 701 Dusty Trail, storm shelter, install-storm shelter, $2,600. Chris and Rhonda Schroeder, 14708 Pepperwell Oaks Drive, storm shelter, install-storm shelter, $2,550. George Gavula, 18200 Bodegon Road, storm shelter, install-storm shelter, $2,505. Ron Hughes, 1317 NW 171, storm shelter, installstorm shelter, $2,495. Benjamin Bland, 9024 NW 148 Place, storm shelter, install-storm shelter, $2,490. Chris Tribuzi, 3824 Pamela Lane, storm shelter, install-storm shelter, $2,400. Jerry and Misty Terrill, 1501 NW 148, storm shelter, install-storm shelter, $2,395. Graham Morsch, 2308 Wayne Cutt Ave., storm shelter, install-storm shelter, $2,350. Ideal Homes of Norman LP, 18212 Agua Drive, storm shelter, install-storm shelter, $2,300. Kevin and Jacque Burdick, 901 Denmark, storm shelter, install-storm shelter, $2,300. Nicole and Justin Carroll, 8108 Hawksbury Road, storm shelter, install-storm shelter, $2,300. Alloy Building Co., 1245 SE 21, canopy-carport, add-on, $2,000. Jeanne King, 10329 Banff Way, storm shelter, remodel, $2,000.

Demolitions K&M Wrecking LLC, 807 NW 7, duplex. K&M Wrecking LLC, 809 NW 7, duplex. K&M Wrecking LLC, 28 NE 73, residence. Jose Romero, 2404 NW 35, single-family residence. Ray’s Trucking, 2721NW 26, garage. Total Demolition, 5101 N Western Ave., bank. Kendall Concrete, 5925 NE 66, residence.




Floor plan invites curiosity The Encino’s imaginative floor plan, composed of three hexagonal modules joined by two rectangles, invites curiosity from onlookers and creates numerous interior angles. This rustic-looking home is a natural for a woodsy site, or a sea or lakeshore lot, but is equally well-suited to an urban setting. Despite its intriguing shape, the Encino is neither more complicated nor more expensive to build than others in the midsize range. And although every room has an odd angle or two, each also has at least one square corner. Vast expanses of glass in the living room and kitchen take advantage of a panoramic view to the rear, whether it be a natural setting or artful landscaping. A wide rear deck unifies the elements and expands the already generous living space still further. In the kitchen, a rangeoven and microwave oven are centered in the eating bar that marks the juncture between kitchen and dining room. A step-in pantry is nearby, and a small utility room and powder room are equally convenient to the kitchen and garage. The owners’ suite has a generous walk-in closet, double vanity and an elevated spa tub. The Encino’s other bedrooms share




Delinquencies on mortgages fall as home prices rise BY MCT INFORMATION SYSTEMS

Mortgage delinquencies posted significant declines at the end of 2012, signaling that distress in the housing market is diminishing just as prices rebound and demand surges. The national delinquency rate for mortgage loans on one- to four-unit properties fell to 7.09 percent, according to the Mortgage Bankers Association. That was the lowest level since 2008. It was also a decline from 7.4 percent the previous quarter and 7.58 percent during the same period the year before. “We are seeing large improvements in mortgage performance nationally and in almost every state,” said Jay Brinkmann, chief economist for the mortgage bankers group. “With fewer new delinquencies, the foreclosure start rate and foreclosure inventory rates continue to fall and are at their lowest levels since 2007 and 2008, respectively.” The number of loans that were seriously delinquent — those gone more than three months without a payment or in the process of foreclosure — dropped to 6.78 percent, down from 7.03 percent the previous quarter and 7.73 percent during the same period a year before.

a bathroom with a combination bath and shower.

A review plan of the Encino 10-016, including floor plans, elevations, section and artist’s conception, can be purchased for $25 by phone, mail or

online. Add $5 for shipping and handling. Associated Designs, 1100 Jacobs Drive, Eugene, OR, 97402. www.associated (800) 634-0123.

The only note of caution flagged by the association: The number of loans that were more than 90 days delinquent increased to 3.04 percent, up from 2.96 percent the quarter before but down from 3.35 percent during the same period a year before. The declines in delinquencies come as home prices rise. One measure of national home prices rose last month with a vigor not seen since the bubble days as the number of foreclosed homes and other distressed properties on the market shrank. The median sales price for previously owned U.S. homes rose 12.3 percent annually in January to $173,600, the National Association of Realtors said. It was the 11th consecutive month of annual increases and the strongest such gain since November 2005.






Investors flock to top foreclosure market: Florida BY PAUL OWERS Sun Sentinel

FORT LAUDERDALE, Fla. — The sunken tub inside the master bathroom has potential. But the dusty, dated black countertop is a goner. “Back in 1982, somebody thought that was awesome. We don’t,” said Andrew Ginsburg, an executive with Waypoint Homes, whose subsidiary bought the bank-owned property last month for $160,000. The three-bedroom, mint green residence in Lauderhill, Fla., also is getting a paint job, new carpeting and appliances — all part of a face-lift designed to attract a renter willing to pay more than $2,000 a month. Oakland, Calif.-based Waypoint started buying properties in South Florida late last year, one of a growing number of investment firms pouring millions into distressed real estate nationwide. Malibu, Calif.-based American Homes 4 Rent bought more than 200 Florida homes last year, according to figures from RealtyTrac Inc. New Yorkbased private equity giant Blackstone Group was behind the acquisition of 166 properties. In all, dozens of companies scooped up more than 5,200 Florida homes in 2012, figures show. Although the foreclosure crisis is easing, Florida remains a hotbed for distressed homes, analysts said. The Sunshine State posted the country’s highest foreclosure rate in January for the fifth month in a row, RealtyTrac said.

Andrew Ginsburg, regional director for Waypoint Homes, shows a house being renovated in Lauderhill, Fla. Waypoint Homes, based in California, is making a push into the South Florida market to buy, renovate and rent foreclosed homes.

David Sullivan, a painter working for Waypoint Homes, paints a home bathroom in Lauderhill, Fla. MCT PHOTOS

Florida had 29,800 properties in the foreclosure process last month, which also led the nation. Thousands of other delinquent homeowners are on the verge of foreclosure.

Most of the bulk buyers are acquiring three- and four-bedroom homes in the $100,000-to$400,000 range with plans to fix them up and capitalize on a robust rent-

al market. “As part of this process, not only are we improving neighborhoods and providing high-quality homes to our tenants, but we are employing thousands of

local contractors across the country, supporting local businesses, and ultimately stimulating local economies,” Mark Beisswanger, chief operating officer of Invitation Homes, said in a statement. Invitation was formed last year by Blackstone to buy foreclosures. In some cases, the firms are buying short sales and foreclosures that never make it on to local multiple listing services. “It probably will help the housing market recover faster by disposing of these properties in chunks rather than individually,” said Daren Blomquist, spokesman for RealtyTrac, an Irvine, Calif.-based foreclosure listing firm. “But individual buyers are being cut out of the process. The biggest loser is the potential homebuyer who wants to get a home in this market.” South Florida real estate agent Michael Citron said a few of his clients have run up against these investment firms. But Citron downplayed the impact of companies rehabbing and renting foreclosed homes in bulk. “It’s definitely happening, but they’re not taking over the market,” he said. “I think it’s a fad.” Mike Larson, a housing analyst with Weiss Research in Jupiter, Fla., said the companies are realizing big profits. But at some point, the market could become saturated, he said. “The issue going forward is, when is there too much money chasing too few deals?” Larson said. “If you’re going to get into this, you have to make sure you’re not another me-too player.”

Ginsburg insists Waypoint isn’t one of those. While the company is new to Florida, it has bought and renovated more than 3,500 homes nationwide since 2008. The firm, co-founded by former NFL place-kicker Doug Brien, is backed by $400 million in private equity. Waypoint’s Adalwin LLC has bought 27 homes in Florida’s Broward County since late last year, property records show. Ginsburg wouldn’t disclose how many homes the company is targeting in nearby counties, saying only that it’s committed to the region. Once the homes are renovated, Waypoint will rent to residents who sign two-year leases. The tenants can earn “waypoints” for paying on time, maintaining the properties and attending financial fitness classes. The company doesn’t sell the homes, though tenants are allowed to convert the points into cash that can be used for down payments to buy other homes after their leases expire. Waypoint won’t rent to felons or to people previously evicted from a rental, but the company will look past a foreclosure. In fact, the typical Waypoint client struggled through the housing collapse, getting the runaround from banks and harassed by collection agencies, Ginsburg said. “A lot of them probably have been treated very poorly,” he said. “We never want them to have that experience with us. We want them to feel heard and respected.” MCT INFORMATION SERVICES






Are your vapor barriers doing their job? Since my column on vapor barriers first appeared, I’ve gotten more reader questions on this topic than on any other that I can remember. I’ve had the opportunity to talk with several experts in the field, as well, and here are some questions and answers that might help clear up a few more issues about this important subject. Q: I just purchased a house a few months ago and installed R-19 batt insulation in the attic (with paper facing up). I realized afterward this was not ideal, but to save cost I left it as is. The house is shaded by lots of trees and is still very cold so I’d like to add a second layer of insulation to the attic, perhaps another unfaced R-19. I read in your comments that the insulation paper has to face down when installing batt insulation. What should I do with the existing insulation? To allow the air to flow, can I just make incisions on the paper on the first batt, or can I remove the paper from the first batt? Or do I have to reverse the first batt such that the paper is facing the inside of the house? Can I use unfaced R-19 as a second layer of insulation, or are there better choices? I am trying to save cost. A: The vapor barrier on the insulation is designed to face toward the heated space, so yes, it should have been installed facing down toward the house. However, most experts agree that between the drywall and the paint

on the ceiling, you have a pretty good vapor barrier already, and whatever moisture makes it into the attic has sufficient avenues of air movement to escape to the outside through the attic vents (assuming your attic is properly vented). So, you shouldn’t have any problems installing a second layer of unfaced R-19 over the existing layer. Install it perpendicular to the first layer for best coverage over the joists. As far as better options are concerned, blown-in insulation will give you more uniform coverage over all the joists. To save money, you can rent the equipment from most home centers to do it yourself. With either option, check with your local building department to be sure there aren’t any code restrictions against insulating over the existing vapor barrier. Q: I am remodeling a bedroom, and I’m not going to insulate my interior walls until I remodel the adjacent rooms (only insulating for sound deadener) so I don’t tear up new insulation on the next remodel. Do I need to put a plastic vapor barrier in the current bedroom before I put drywall up? A: The purpose of the vapor barrier is to deal with moisture that might get into your exterior walls and condense there in the cold weather, turning to liquid water and creating mold or structural damage. There’s no need to create a vapor barrier in

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walls between conditioned spaces, since the heat in those spaces keeps the moisture from condensing. Q: I recently had a new “pole building” garage built. It has a metal roof and siding, and a loft-storage area above the garage. The whole building is wrapped with 2-inch insulation blanket, including between the roof and the 2-by-8 rafters. I want to fill the area in the ceiling between the rafters with insulation and then dry wall. My question is about whether a vapor barrier or faced insulation batts should be used or not. I would be putting new insulation up against the existing blanket, which has the smooth plastic side facing the inside. I want to eventually do the same thing on the walls. A: Here’s a bit of controversy for you. I’m of the opinion that when you install a second layer of insulation, you can create a situation where moisture can pass through the first layer and potentially be trapped against the vapor barrier on the second layer (the smooth plastic facing), where it could condense into a liquid and cause damage. How much of a risk that actually is

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depends in large part on the humidity and temperature conditions in your area, as well as how much moisture is being created by your use of the pole barn. However, not all the experts agree with me on this. As with the previous question, others feel that there is ample opportunity for the moisture to escape, and that it won’t be trapped. I’m not comfortable telling you to proceed with additional insulation, especially over a continuous vapor barrier such as the one you describe. Since you just had the building constructed, you need to err on the side of caution and talk with both your local building department and the original contractor before you make any final decisions. Q: I am a Realtor and I recently got the results of a house inspection where the inspector noted that the vapor barrier did not go all the way to the foundation. The property owner contacted the company that installed the vapor barrier and was advised that they always leave a couple of feet of the soil exposed, because they want the crawl space to breathe. They say if they covered the entire crawl space all the moisture would be trapped under the vapor barrier. Well, yes, I thought that was the purpose of the vapor barrier. Shouldn’t it extend all the way to the foundation? A: You’re correct in assuming that the vapor barrier is there to stop moisture from the soil from

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309 Potomac 3/2/2 $895 10008 Shadowview 3/2/2 $1295 10000 B. Shadowview 3/2/2 $825 Express Realty 844-6101 Near SW Medical: Doll House newly remod. 2bd, 1ba, gar. $650/ mo $500dep +app fee 691-5479 1401 SW 34th 3bed 1bath 2car detached garage $550 Free List ¡ 681-7272

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» » » 405-226-9607 » » »


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800 N Meridian

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Bills Paid

Furnished/Unfurnished. Bills Paid » Wkly/Mnthly. Wes Chase Apts Elk Horn Apts, Hillcrest, 370-1077

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coming up into the crawl space. If it’s only partly covering the soil, it’s only partly doing its job. The crawl space does indeed need to “breathe,” but it does that through its ventilation openings, not by allowing excess moisture to come up through the ground. If they’re going to install a vapor barrier, then the accepted standard is 6-mil black plastic sheeting installed directly on the ground, with joints lapped 12 inches at all seams and the plastic extending up the foundation walls 12 inches all the way around the crawl space. In addition to the vapor barrier, foundation vents are required at a rate of 1 square foot of vent area for every 1,500 square feet of under-floor space, and there has to be one vent opening within 3 feet of every corner of the building. If they’re not going to cover the ground completely, then the amount of ventilation needs to increase dramatically, to 1 square foot of vent area for every 150 square feet of floor area. The people who installed the vapor barrier can’t have it both ways. I’m assuming they don’t want to come out and install a bunch of foundation vents, so your homeowner should have them come back and finish properly installing the remainder of the vapor barrier.

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The Oklahoman Real Estate  

The Oklahoman Real Estate