Page 1

LISTING OF THE WEEK

HOUSE PLAN

Dallas-style home

Everheart

The Listing of the Week is a large home in the Thornhill addition in northwest Oklahoma City, west of Edmond. PAGE 5E

This plan is handsome, luxuriously large and comfortably relaxed. And despite its size, the front facade is decidedly unpretentious. PAGE 8E

REAL ESTATE

E

THE OKLAHOMAN | NEWSOK.COM

SATURDAY, APRIL 6, 2013

Ellen James Martin SMART MOVES

SALES ON RISE Home selling is picking up dramatically, with buyers who’ve been waiting on the sidelines for several years finally jumping in the fray. PAGE 3E

IN BRIEF

Underground Loft, 3200 Sexton Drive in Norman, is one of seven stops on the 12th annual Architecture Tour from 10 a.m. to 4 p.m. April 13. Architects Mike and Mary Price own the home of reinforced concrete with 14 inches of soil and sod on its roof.

Homes, apartments, offices on 2013 Architecture Tour FROM STAFF REPORTS

The American Institute of Architects Central Oklahoma Chapter will present the 12th annual Architecture Tour from 10 a.m. to 4 p.m. April 13. The self-guided tour includes homes and commercial buildings and is a highlight of Architecture Week, April 8-14. Advance tickets are $12 through Thursday online at www.aiacoc.org/tour, or at Taparchitecture, 415 N Broadway; at the chapter office, 3535 N Classen Blvd; or at Space 20th Century Modern, 4408 N Western Ave. Tickets will be $15 at any tour stop the day of the tour. Tour locations are: I 7 at Crown Heights, 1000 NW 37. 7 at Crown Heights, owned by Brent Swift Design Build — architect Butzer Gardner Architects — is a jewel of the historic Crown Heights neighborhood. The original 1938 structure and its wellmanicured grounds are now home to six luxurious modern residences, ranging from 1,100 to 1,350 square feet with one or two bedrooms. Details, finishes and amenities celebrate the historic structure’s crisp modern lines and proportions. This location was on last year’s tour under construction;

Woodland Residence, 1009 Woodland Drive in Norman, was designed in the 1940s and influenced by Bruce Goff’s work and a resurgence of Frank Lloyd Wright-inspired tendencies. Butzer Gardner Architects renovated the home, owned by Brent Swift.

this year the finished project is featured. I Underground Loft, 3200 Sexton Drive in Norman. From an early-1900s dugout near Mangum to their passive solar home in Norman, a fourthgeneration Oklahoma family has

returned to the comfort, safety and cost effectiveness of an underground prairie home. Architects Mike and Mary Price bought the home, designed by Norman architect Joe Hylton, and employed Mike’s uncle, Donald Price of Price Group Architects, to oversee

the interior renovation. The reinforced-concrete house, with 14 inches of soil and sod on its roof, most recently survived a wildfire while homes across the street were destroyed. This pas-

Kenneth Harney THE NATION’S HOUSING

updated daily with fresh cases, doesn’t provide the gory details of specific alleged misdeeds. Nor does it identify the consumers filing complaints other than by ZIP code and the general nature of their dispute. But it does identify the banks or mortgage lenders that are the targets of the complaints and whether they responded to the agency to try to resolve the matter. In the vast majority of cases, lenders have responded within 15 days — often apparently to the satisfaction of their customers. When the CFPB receives a complaint, it verifies that the consumer is indeed a customer of the bank or mortgage company, but does not attempt to determine whether the allegations by the consumer

have merit. It contacts the lender, provides a secure portal for a reply, then informs the consumer about the lender’s response using a separate secure portal. When the case is posted to the online database, it’s cataloged as either in progress, closed, closed with an explanation, closed with monetary relief to the consumer, closed with non-monetary relief or closed with dispute comments added to the file by the consumer indicating unhappiness with the lender’s response. Does the hotline system really work? Bob Ogle of Tucson, Ariz., whose case number and ZIP code are posted in the database, describes himself as a big fan. He filed a complaint about a mortgage servicing company in Texas Feb. 8 protesting a pending foreclosure action against his mother. Not only was the CFPB’s response swift — the agency contacted the loan servicer immediately and obtained a response. The foreclosure was canceled and the entire dispute resolved. “I got a letter stopping the fore-

If you’ve ever thought about venturing into beekeeping, “Homegrown Honey Bees” can tell you what to expect. The book, “an absolute beginner’s guide,” is by Alethea Morrison with photos by Mars Vilaubi, husband-and-wife beekeepers from Massachusetts who share their challenges, failures and successes to help others get started in beekeeping ventures of their own. The book covers the basic how-tos and answers such questions as how often you can expect to be stung, how much money you’ll spend and how much time you’ll need to devote to beekeeping. Brief profiles of urban beekeepers from around the country are included. ”Homegrown Honey Bees” is published by Storey Publishing and sells for $14.95 in softcover.

SEE TOUR, PAGE 2E

Mortgage complaint window is open WASHINGTON — Got a beef with your mortgage company or loan servicer? Lots of people do, and thousands of them have been turning to a federal complaint hotline for action — or at least a quick response from the lender. The Consumer Financial Protection Bureau opened up its bulging online complaint hotline files to public view last week, and the contents are startling: Though the CFPB’s complaint window is open to various financial disputes — credit cards, student loans, credit reporting agencies, bank loans to consumers — by far the biggest source of complaints is home mortgages. Nearly half of all disputes reported to the agency by consumers are mortgage related — problems with payments, escrow accounts, servicing, Federal Housing Administration-backed and conventional loans, home equity lines, second mortgages, reverse mortgages, loan modification delays, application foul-ups and the like. The new database, accessible at www.consumerfinance.gov and

BEEKEEPING BASICS

closure on Feb. 12,” he said in a telephone interview. “How can you do better than that?” However, banks and mortgage lenders aren’t as thrilled about the newly released complaint database as Ogle is. For one thing, they are named, even if the complaint ultimately turns out to have been unfounded. Also, the searchable feature of the database allows anyone to check on the number of complaints filed against any specific lender — which some large banks consider unfair given that their high volumes of transactions are almost guaranteed to generate more complaint filings than would smaller lenders. How can you use the CFPB mortgage hotline if you’ve got a dispute with a lender or bank? There are several ways: You can file online at www.consumer finance.gov/Complaint. Or call toll-free (855) 411-CFPB. Or use snail mail: CFPB, P.O. Box 4503, Iowa City, Iowa, 52244. Ken Harney’s email address is kenharney@earthlink.net. WASHINGTON POST WRITERS GROUP

UNHAMPERED BASKET No space to store laundry baskets? The Unhampered basket folds flat to about 2 inches deep, so it can be stashed in a narrow space. When it’s unfolded, it’s a sturdy basket with multiple handles, an optional divider to separate your load and a pocket to hold detergent or delicate items. The basket was invented by Atlanta resident Barbara Miles and developed with support from the online community at Quirky.com. It can be ordered from the website for $29.99 plus shipping. MCT INFORMATION SERVICES

INDEX Barry Stone Permits

2E 6E, 8E


2E

.

SATURDAY, APRIL 6, 2013

REAL ESTATE

Tour: Architecture Week highlight FROM PAGE 1E

sive solar home combines regional sensibility with modern style and serves as a tornado shelter for family and friends. I Woodland Residence, 1009 Woodland Drive in Norman. The house, designed in the late 1940s with inspiration drawn from Bruce Goff and a resurgence of Frank Lloyd Wright-inspired architectural tendencies, had become worn and overwhelmed by years of misunderstandings and ill-conceived modifications. It is now owned by Brent Swift. The architect for the project was Butzer Gardner Architects. Through a series of incisions, removals, relocations and modest additions of opaque or perforated space, the parti of the L-shaped home and its nestled relationship to the outdoors and grand pecan in the front yard has been reestablished and invigorated. New internal-external spatial conditions are established or strengthened. A restored swimming pool and stone sunning deck toward the rear complement the landscape apron leading to a newly set entry door location. I 430, 430 NW 12. 430, designed by Fitzsimmons Architects and owned by Midtown Renaissance, started as a nondescript two-story office building in 1955. It sat vacant for several years and the exterior slowly fell into disrepair. The bones of the building remained in good condition. The structure consisted of board-formed two-way plate slabs supported on concrete columns. The architect suggested adding a third floor to meet the owner’s desire to convert the building into apartments. This allowed for large two-story units with upper floors offering expansive decks and unparalleled views of downtown Oklahoma City and increased the area by 57 percent, from 14,160 to 22,336 square feet. I Hiltgen Home, 1701 Woodhill Road in Edmond. The Hiltgen Home, owned by Cary and Lisa Hiltgen, has more than survived the circumstances of the past 37 years. The original wood frame house was located in the Woodhills Addition of Edmond with an addition built in 1996. The Hiltgen family purchased the home on 5 wooded acres, with a swimming pool, pool house and lighted tennis court. The architects were Miles Associates. An initial meeting resulted in plans to renovate the kitchen and master bedroom and add a garage, but just two weeks later, in February 2009, a tornado tore through the neighborhood, damaging more than 75 percent of the house plus a barn, tennis court and pool house. Complete renovation ensued, allowing the Hiltgens to redefine the architecture of their home from quintessential 1970s Colorado contemporary to contemporary rustic. I WestTown Campus, 1729 NW 3. The Homeless Alliance owns the property, designed by Taparchitecture. The Resource Center provides a one-stop shop for access to multiple social

This nighttime view shows the exterior of WestTown Campus, 1729 NW 3, owned by the Homeless Alliance. PHOTOS PROVIDED BY AIA CENTRAL OKLAHOMA CHAPTER

Brent Swift Design Build owns 7 Crown Heights, a 1938 structure expanded and converted into six homes. Butzer Gardner Architects led the design.

Cary and Lisa Hiltgen’s home at 1701 Woodhill Road in Edmond was converted from 1970s Colorado contemporary to contemporary, with massive tornado damage in between.

service agencies. Next door, the Day Shelter offers a place of refuge. WestTown resulted from the adaptive re-use and renovation of two metal buildings on a brownfield site near downtown. The metal roof and wall panels were removed and recycled while the rigid steel frames were salvaged and repurposed. The steel structure is expressed throughout the buildings, but is most evident at the entrance of the Resource Center. I Lingo Construction Services, 123 NW 8. The building is owned by Stan Lingo and was designed by Elliott & Associates Architects. The design focus is the transformation of the 1930 masonry-andsteel building into modern office space. The character of the 12,000-squarefoot, two-story building, originally Sharp Auto Supply Co., had been diminished by thick layers of paint, historically inaccurate additions and years of misguided design efforts. The concept for the project is called X-Ray. The design seeks to gracefully insert new elements, such as walls, beams and ceilings, as if they were “xrayed” versions of typical construction methods. The approach exposes the internal framing and building systems through the use of clear polycarbonate panels rather than hiding all elements through typical opaque gypsum board.

THE OKLAHOMAN | NEWSOK.COM

Aluminum wiring in attached condos can be a hazard DEAR BARRY: The condo that I’m buying has aluminum wiring. According to my home inspector, this is a fire hazard. But he says that correcting the problem in the unit I’m buying doesn’t eliminate the issue entirely because the adjoining condos also have aluminum wires, and a fire in one of those dwellings could spread to my unit, as well. What he says makes sense, but I’m not sure what to do about it. What do you recommend? Regina DEAR REGINA: You have a wise home inspector. Aluminum wiring in the building should be a matter of concern to everyone who lives on the property or who owns any of the units. The issue should be brought to the attention of the homeowners association and to the individual owners of each Barry condo. All owners should Stone be advised to have their wiring upgraded by a licensed electrician. From the late 1960s INSPECTOR’S IN THE HOUSE through the mid-1970s, aluminum wiring was commonly used for 110The HOA volt circuits in many should hire a homes. Its use was discontinued when loosened qualified connections were found to electrician to cause fires. Fortunately, evaluate and this does not typically reupgrade the quire replacement of the wiring in all of wiring. Instead, the aluminum wire ends can be the affected retrofitted with specialcondos. ized hardware by a licensed electrician who is familiar with aluminum wire issues. The HOA should hire a qualified electrician to evaluate and upgrade the wiring in all of the affected condos. DEAR BARRY: The Masonite siding on our home has become warped and soft. The fact that we have this type of siding was not mentioned by our home inspector five years ago when we bought the property. Since then, we’ve learned that Masonite siding was the subject of a class-action lawsuit and that it’s known to be defective. The cost for new siding is more than $10,000. When we called our home inspector, he said the siding went bad because it wasn’t installed properly. That sounds like an excuse to me. Shouldn’t he be liable for this? And how about the sellers and the agent? Shouldn’t they have said something? Robin DEAR ROBIN: Home inspectors who are good at what they do are usually aware of problems inherent with Masonite siding, and if they are competent, they point out these issues to their clients. Unfortunately, your inspector failed to make this disclosure. In many cases, Masonite siding can last for years without significant deterioration, but the potential for deterioration should have been mentioned in the inspection report. If the home inspector disclosed nothing about the Masonite siding, he may have missed other problems, as well. Therefore, it would be wise to have the home reinspected by a more qualified inspector. This time, do some investigating to find an inspector with many years of experience and a reputation for thoroughness. Call several real estate offices and ask who is the most thorough inspector in the area. As for the sellers and agent, they were probably unaware of the siding problem or of specific issues involving Masonite. Unless there was visible damage or deterioration when you purchased the property, there may be no reason to hold them liable. at www.housedetective.com.

To write to Barry Stone, visit him on the web ACTION COAST PUBLISHING

BUSINESS BUSINESS NEWS

Elliott & Associates Architects designed the conversion of 123 NW 8, a 1930 auto supply company in Automobile Alley, into modern office space for Lingo Construction Services.

P.O. BOX 25125, Oklahoma City, OK 73125 Fax: (405) 475-3996 NewsOK.com HomesOK.com

DON MECOY Business Editor (405) 475-3942, dmecoy@opubco.com

RICHARD MIZE Real Estate Editor (405) 475-3518, richardmize@opubco.com

HOMESOK.COM

Find real estate news on the Internet at HomesOK.com

FOR EDITORIAL INQUIRIES: Contact Richard Mize

JERRY WAGNER

Eating space in the kitchen of the Underground Loft, 3200 Sexton Drive in Norman.

Assistant Classified Advertising Manager (405) 475-3475, jwagner@opubco.com

FOR ADVERTISING INQUIRIES: Contact Jerry Wagner


REAL ESTATE

THE OKLAHOMAN | NEWSOK.COM

SATURDAY, APRIL 6, 2013

.

3E

Get the best agent for your sale In many neighborhoods, the backlog of foreclosed properties is now clearing, and home-selling activity is picking up dramatically. Meanwhile, buyers who’ve been waiting on the sidelines for several years are finally jumping in the fray. “We’re hearing about appreciation for the first time since 2008. That’s causing a lot of people to hurry up and make a purchase before they’re priced out of the market,” said Karen Rittenhouse, author of “The Essential Handbook for Selling a Home.” Rittenhouse, an investor who heads her own realty firm, said buyer eagerness is prompting more wannabe sellers to plan a springtime sale this year. That, in turn, means leading real estate agents are juggling more listings. But Rittenhouse urges sellers to exercise extra caution when selecting an agent during this busy spring season, to make doubly sure their listing commands the personal attention it deserves. “You need to ask for referrals, check references and interview every agent you’re considering. Like hiring a cancer specialist, you don’t want to just pick someone out of the phone book,” she said. Many successful agents hire assistants to handle much of their routine work, and Rittenhouse doesn’t necessarily disapprove of this practice. But she said it’s important that your primary agent handle such core functions as negotiating on your behalf when an offer comes in. Eric Tyson, a personal finance expert and co-author of “House Selling for Dummies,” said it isn’t always easy to determine in advance whether an agent

Ellen James Martin SMART MOVES

will give your listing the attention it deserves. Here are a few pointers for home sellers: I Review a potential listing agent’s track record. Maybe the agent you’re thinking of hiring is a superstar, having won numerous awards for sales volume. Even so, this could be the wrong one for you, Tyson said. “Just because the agent is a big producer in sales volume doesn’t mean (he or she has) expertise selling in your specific area or your type of house,” he said. Tyson and his co-author of “House Selling for Dummies,” Ray Brown, urge would-be sellers to get an “activity list” from any agent they’re considering. This should itemize all sales closed in the previous 12 months and show the property locations, as well as list and sale prices. “You can’t beat this raw data when you’re sizing up an agent,” Tyson said. He said an activity list is more revealing than all the awards an agent has won in the past. That’s because it tells you how the agent is now performing on a dayto-day basis. Agents don’t just specialize in particular areas, they also specialize in certain price categories, and you should find someone whose focus aligns with your needs. I Ask the agents you interview about their vacation plans.

Obviously, agents like to pull away for vacations from time to time. But real estate experts caution against hiring one who plans to head for vacation during the early weeks of your listing period. That could hinder your sale at the time when buyer excitement about your place is high. Often agents rely on backups when they’re away. But Tyson said this is a poor option for clients, especially if the agent is gone for more than a couple of days during the period when offers are most likely to come in. He said it’s unreasonable to ask agents to forecast their travel plans a full year ahead. But a couple of months in advance, it’s fair to ask about any lengthy absence that will occur shortly after your property goes on the market. I Seek out a responsive listing agent. Starting the day that your property goes up for sale, you need to start getting a regular stream of feedback from your listing agent. For example, if your agent stages an open house for real estate professionals in the area — known as a “broker’s open” — you’ll want to receive their comments about the price and condition of your home. Also, you’ll want timely feedback from potential buyers who come through your place for showings. Why is timely feedback essential to a successful sale? Because it allows you to correct course quickly. For instance, immediate feedback that your home is overpriced would let you adjust your price before it’s stigmatized. Your listing agent should be the one giving you feedback on a regular

Skyler’s Court open house is planned Rausch Coleman Homes LLC will present one of its newest additions, Skyler’s Court, with an open house from 1 to 4 p.m. April 13 at its model home at 19424 Skyler’s Drive. The addition is on the north side of NW 192, west of Pennsylvania Avenue, just west of Edmond. Food

and prizes will be offered. First Mortgage Co. will sponsor prizes for attendees who register with Rausch Coleman Homes. Oklahoma City Abstract will sponsor food. American Eagle Title will provide a tent in case of inclement weather.

Many successful agents hire assistants to handle much of their routine work, and author Karen Rittenhouse doesn’t necessarily disapprove of this practice. But she said it’s important that your primary agent handle such core functions as negotiating on your behalf when an offer comes in. basis. To ensure this happens, you need an agent who is meticulous about collecting comments and

passing them on. You can increase your chances of finding a conscientious communicator

by asking the references that your agent gives you whether they got regular feedback. Plus, you can insist that your listing agreement specify how often, and whether by phone, email or text, your agent will contact you. “When it comes to selling your home, good communication with your listing agent isn’t a luxury. It’s crucial,” Tyson said. To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com. UNIVERSAL UCLICK


4E

.

SATURDAY, APRIL 6, 2013

REAL ESTATE

THE OKLAHOMAN | NEWSOK.COM

Work smarter, not harder, on DIY projects Kevin Chavez, authorized technician of The BBQ Cleaner, professionally cleans a gas grill for a client in Mesa, Ariz. AP PHOTO

Hate cleaning the grill? Some hire the work out BY AMY LORENTZEN The Associated Press

Nick Escalante enjoys grilling his family’s meals a couple of times a week yearround, but doesn’t like cleaning the greasy mess that comes with it. So he uses a professional grill cleaner. “I really am not a fan of cooking food for my family on a grill that has leftover food from previous uses all over it,” said Escalante, 47, of Mesa, Ariz. “They come and do the dirty work for us.” Proper grill maintenance can make cooking safer and extend the life of your grill. Celia Kuperszmid Lehrman, deputy home editor for Consumer Reports, said homeowners can do the job on their own. “There is not some huge skill set here that the average person can’t handle,” she said. Many high-quality grills sell for between $200 and $300. Doing your best to clean the appliance and then replacing it may be more cost-effective than paying for professional upkeep, she said. Whether you do it yourself or hire an expert, there is some regular upkeep required. That includes scraping grates before and after you cook, washing flavorizer bars occasionally, and emptying grease traps.

Gas grillers should regularly check their propane tank and replace if it has corrosion or dents, and inspect and replace cracked or brittle hoses, Kuperszmid Lehrman advises. Most grill parts, cleansers and tools can be purchased inexpensively at home stores. Check the manual to ensure you don’t use anything that could void your grill’s warranty. Jeffrey Krentzman, founder and owner of The BBQ Cleaner in Hackensack, N.J., recommends a professional grill cleaning at the start and end of barbecuing season, or more if you grill year-round. Professional grill cleaners take the grill apart; steam, spray or soak the pieces; and use special tools to scrub in spots the average homeowner may not easily reach. Many use food-safe and environmentally friendly products designed for grills. Professional cleaners also advertise their services as making grills healthier by removing potentially cancer-causing substances from the grill. Those substances are produced when foods are cooked at high heat, and especially when meats are charred. The Department of Agriculture advises preventing flares when grilling for added food safety. You can do that by trimming fat, precooking to release fatty juices and keeping the grill free of greasy buildup.

Do-it-yourself projects can be extremely satisfying, and the savings can add some much-needed cash to your wallet. But they can also be a lot of work, and they take time away from family and leisure activities. So why make them any harder than they need to be? With that simple philosophy in mind, here’s a list of suggestions to help you get your projects done more quickly and with less stress. I 1. Set up some work tables. Having a place that’s off the floor to gather all your tools and materials is one of the quickest and most helpful things you can do. It keeps everything in one place, makes assembly much easier, and puts tools like miter saws at a safe, comfortable working height. One of the best ways to do this is with an inexpensive pair of folding sawhorses, topped with a couple of 2-by-4s and a sheet or a half-sheet of particleboard or plywood. A couple of screws through the particleboard into the 2by-4s will keep things from tipping. These are easy and cheap enough to make and move that you can consider having a couple of them set up in different areas as needed. But remember: These are not for standing on. I 2. Plastic is your friend. Pick up a roll or two of thin plastic sheeting, also called painter’s plastic. Use it to cover your work tables, to hang over doorways, to cover furniture, and to protect anything else you don’t want covered with dust, paint and drywall mud. It sounds like such a common-sense thing, but a lot of people don’t do it, and the end result is hours wasted at the end of the job in unneces-

Paul Bianchina HANDY @ HOME

sary cleanup, not to mention the possibility of a ruined piece of furniture. I 3. Gather what you need. One of the best things you can do to speed up the job and avoid frustration is to gather up everything you need before you start. Make a list of all the tools you can think of, and get them set out on your work table. That helps you avoid being right in the middle of something, and having to run out to the garage or down to the basement in search of the right wrench. Also, try to figure out all your materials. Few things are more irritating than being partway through a project and finding out that some crucial piece is missing — especially when the power’s off or you’re without water — and you have to make a run to the home center at the last minute. I 4. Buy some clamps. Bar clamps, especially the quick-grip type that can be operated with a squeeze of one hand, are surprisingly valuable to have around. They act like a second set of hands for temporarily aligning things while you fasten them, such as two boards or a couple of cabinet faces; they hold things in place temporarily, like your work table top to your sawhorses; they can pull stubborn boards together, or push them apart; and many other things. Buy at least one pair in a couple of different lengths, along with some spring clamps, which are available inexpensively in a package of assorted sizes.

I 5. Read the instructions. Believe it or not, the instructions packaged with most items are there for a reason, and it pays to read them. The instructions give you a list of what parts should be included, so you can check to see that everything’s there before you start. They also give you the proper assembly sequence, to avoid missed steps. Many of them also give you a list of tools. I recommend taping the instructions to a wall near where you’re working, or attaching them to a scrap of plywood with some binder clips so they stay open and handy. When you’re done with the assembly, label the instructions with the date of installation, the model and serial number of the item, and where you bought it, then file it for future reference. And don’t forget to register the warranty. I 6. Ask for help. If you don’t understand how to do something, ask for an explanation where you buy your products or tools. Most home centers, hardware stores, paint stores, lumberyards and other retailers that cater to do-it-yourselfers have very knowledgeable sales staffs that can assist you with your questions. They can also help you gather up additional materials and tools that you might need to see the project through to completion. On a related note, if a project calls for a second set of hands, ask for help with that as well. Exceeding your personal limitations for lifting and maneuvering something into place cannot only result in a sloppy job, but it’s also downright dangerous. Remodeling and repair questions? Email Paul at paulbianchina@inman.com. All product reviews are based on the author’s actual testing of free review samples provided by the manufacturers. INMAN NEWS


REAL ESTATE

THE OKLAHOMAN | NEWSOK.COM

SATURDAY, APRIL 6, 2013

.

5E

Signed contracts to buy homes dip

LISTING OF THE WEEK

BY THE ASSOCIATED PRESS

The Listing of the Week is at 19513 Talavera Lane. PHOTO PROVIDED

The Listing of the Week is a large Dallas-style home in the Thornhill addition in northwest Oklahoma City, west of Edmond. The 3,896-square-foot home at 19513 Talavera Lane has four bedrooms, three baths, four living rooms, two dining areas and an attached four-car garage with insulated doors. The family room has a fireplace and ceiling fan. The gourmet kitchen has a breakfast bar, island, granite counters, pantry and brick arches. The master bedroom has a ceiling fan and full bath with whirlpool tub, granite counters and a walk-in closet. The in-law plan has a master-sized bedroom with full bath and walk-in closet. Other secondary bedrooms have ceiling fans and walk-in closets. The home has a theater room, study with built-in shelves, covered patio, security system and underground sprinkler system. The home, built in 2007, is listed for $359,900 with Linda Finch of Paradigm AdvantEdge Real Estate. For more information, call 348-4422. 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.

WASHINGTON — Fewer Americans signed contracts to buy homes in February, but the level stayed near a three-year high, and analysts believe sales of previously occupied homes will keep rising in the coming months. The National Association of Realtors said that its seasonally adjusted index for pending home sales dipped to 104.8 in February. That’s down from January’s reading of 105.2 — the highest since April 2010, when a homebuyer’s tax credit was boosting sales. Signed contracts were 8.4 percent higher than a year ago. There is generally a oneto two-month lag between a signed contract and a completed sale. In February, completed sales of previously occupied homes rose to a seasonally adjusted pace of 4.98 million, the fastest in more than three years. The gains in both signed contracts and completed sales point to a housing recovery that is strengthening, al-

though resales remain below the 5.5 million that are consistent with healthy markets. Steady hiring and near record-low mortgage rates have encouraged more Americans to buy homes more than six years after the housing market started to collapse. More people are also moving out on their own after living with friends and relatives in the recession. That’s driving a big gain in apartment construction and also pushing up rents. Pending home sales rose

0.4 percent in the Midwest and 0.1 percent in the West last month. They fell 2.5 percent in the Northeast and 0.3 percent in the South. One concern is that a shortage of available homes is limiting sales in many markets. More people are also starting to put their homes on the market, which could help sales in the coming months. The Realtors’ group last week said that the number of available homes for sale rose 10 percent last month, the first monthly gain

since April. Even with the gain, the inventory of homes for sale was still 19 percent below a year ago. A limited supply of homes for sale has helped drive prices higher. Stable price gains should encourage more people to buy and put their homes on the market, keeping the housing recovery going. And higher home prices make people feel wealthier, which leads consumers to spend more and drives more economic growth.


6E

.

SATURDAY, APRIL 6, 2013

Permits Oklahoma City Rick Brown & Associates, 5101 N Western Ave., bank, erect, $3,300,000. Quality Structures Inc., 9901 Abby Lane, accessory, erect, $2,351,474. Urban OKC, 2951S Council Road, office-warehouse, erect, $1,800,000. Denise Patterson Custom Homes, 3329 NW 164 Terrace, residence, erect, $1,750,000. Nabholz Construction Services, 6400 Superior Ave., office-warehouse, erect, $1,500,000. Jacobs General Contracting, 101 N Robinson Ave., medical clinic-office, remodel, $1,500,000. SAS Constructors, 5608 W Memorial Road, restaurant, erect, $1,000,000. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $668,416. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $668,416. Willco Homes LLC, 16713 Little Leaf Lane, residence, erect, $650,000. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $619,563. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $619,536. Danforth Apartments LLC, 19501 N Pennsylvania Ave., erect, erect, $619,536. Mass Architects Inc., 24 W Park Place, office, remodel, $600,000. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $555,243. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $555,243. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $555,243. Willco Homes LLC, 17616 Prairie Sky Way, residence, erect, $520,000. Traci Witter, 416 NE 1 Terrace, apartment, erect, $376,500. Traci Witter, 418 NE 1Terrace, apartment, erect, $376,500. Traci Witter, 420 NE 1 Terrace, apartment, erect, $376,500. Traci Witter, 422 NE 1 Terrace, apartment, erect, $376,500. Traci Witter, 424 NE 1 Terrace, apartment, erect, $376,500. Traci Witter, 426 NE 1 Terrace, apartment, erect, $376,500. Traci Witter, 428 NE 1 Terrace, apartment, erect, $376,500. Beacon Homes LLC, 16012 Angie Kaye Lane, residence, erect, $375,000. Ironwood Homes LLC, 19625 Stratmore Way, residence, erect, $360,000. Eric Cheatham Construction Co., 3516 SW 126 Terrace, residence, erect, $351,500. Margaret Andrews, 608 NW 51, residence, add-on, $350,000. Willa Construction Co Inc., 13901 Cascata Strada, residence, erect, $350,000. Ironwood Homes LLC, 19705 Stratmore Way, residence, erect, $340,000. McCaleb Homes Inc., 13100 Canyon Lakes Drive, residence, erect, $315,000. Sun Properties LLC, 1528 NW 176, residence, erect, $301,000. Baker Homes/Baker Group LLC, 3400 NW 135, office, erect, $300,000. JYM Investment, 9317 S Eastern Ave., office-warehouse, shell, $300,000. Manchester Green Homes LLC, 1301 NW 188, residence, erect, $295,300. Shawn Forth Custom Homes, 15908 Angie Kaye Lane, residence, erect, $290,000. Stone Creek Homes Ltd., 8521 SW 107, residence, erect, $265,000. Sun Properties LLC, 1525 NW 175 Court, residence, erect, $260,000. Landstar Homes OKC LLC, 15917 James Thomas Court, residence, erect, $260,000. Sun Properties LLC, 1544 NW 175 Court, residence, erect, $250,000. 4 Corners Construction LLC, 5309 NW 161 Terrace, residence, erect, $246,000. 4 Corners Construction LLC, 5304 NW 161 Terrace, residence, erect, $245,000. R&R Homes LLC, 10908 SW 33, residence, erect, $244,000. R&R Homes LLC, 11437 NW 132 Terrace, residence, erect, $240,000. J.W. Mashburn Develop-

ment Inc., 3201 SW 137 Court, residence, erect, $230,000. Raywood Homes, 10917 NW 36 Terrace, residence, erect, $230,000. J.W. Mashburn Development Inc., 3213 SW 138, residence, erect, $225,000. Matthew Wells, 17700 Chatham Hills Road, residence, erect, $224,575. Taber Built Homes LLC, 6500 SE 163 Court, residence, erect, $220,000. The RLA Co. Inc., 14001 Drakes Way, residence, erect, $218,000. Central Oklahoma Transportation & Parking Authority, 2000 S May Ave., public building, add-on, $214,000. The RLA Co. Inc., 7413 Noah Parkway, residence, erect, $210,000. Treasure Built Homes Inc., 14300 SE 77 Terrace, residence, erect, $210,000. New Generation Homes LLC, 313 John Wedman Blvd., residence, erect, $205,000. Eric Cheatham Construction Co., 304 SW 172 Circle, residence, erect, $204,000. Raywood Homes, 3608 Austrian Pine Lane, residence, erect, $202,860. Allenstyle Homes LLC, 16121 Cale Drive, residence, erect, $200,000. Vintage Custom Homes LLC, 308 SW 175 Terrace, residence, erect, $200,000. Mass Architects Inc., 24 W Park Place, office, remodel, $200,000. J&R Custom Homes LLC, 12608 NW 6, residence, erect, $190,000. Elite Quality Homes, 8501 SW 109 Court, residence, erect, $187,160. Elite Construction, 11717 SW 14, residence, erect, $185,000. Dodson Custom Homes 1 LLC, 15812 Angie Kaye Lane, residence, erect, $175,600. Dodson Custom Homes 1 LLC, 15904 Angie Kaye Lane, residence, erect, $175,600. Elite Construction, 11605 SW 15 Terrace, residence, erect, $175,000. Vintage Custom Homes LLC, 400 SW 175 Terrace, residence, erect, $175,000. Elite Construction, 11608 SW 14, residence, erect, $172,000. Denise Patterson Custom Homes, 3337 NW 163, residence, erect, $170,000. 4 Corners Construction LLC, 15117 SE 58, residence, erect, $169,000. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $164,842. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $164,842. Danforth Apartments LLC, 19501 N Pennsylvania Ave., apartment, erect, $164,842. Innovative Mechanical LLC, 2811 SE 29, pet-animal service, remodel, $160,000. Jeff Click Homes LLC, 17521 Black Hawk Drive, residence, erect, $147,000. Authentic Custom Homes LLC, 8109 Waters Edge Way, residence, erect, $146,000. Authentic Custom Homes LLC, 8117 Waters Edge Way, residence, erect, $143,000. Home Creations, 3048 NW 181, residence, erect, $140,000. Precision Style Homes, 11229 NW 8, residence, erect, $132,000. BRR Architecture, 6100 W Reno Ave., retail sales, remodel, $130,800. Sharper Image Homes LLC, 18304 Bridlington Drive, residence, erect, $130,000. Sharper Image Homes LLC, 3104 NW 181 Terrace, residence, erect, $130,000. Home Creations, 3052 NW 181, residence, erect, $129,600. Home Creations, 16100 Romeo Drive, residence, erect, $128,800. PageSoutherlandPage, Chris Creel, 7101 Northwest Expressway, business, remodel, $125,000. Dodson Custom Homes 1 LLC, 18220 Bridlington Drive, residence, erect, $124,800. Home Creations, 3028 NW 181, residence, erect, $118,000. Ideal Homes of Norman LP, 305 Partridge Run Road, residence, erect, $117,000. Precision Style Homes, 11309 NW 7, residence, erect, $115,000. Home Creations, 11221 NW 100, residence, erect, $114,100. Home Creations, 16104 Romeo Drive, residence, erect, $110,300. Ideal Homes of Norman LP, 308 Partridge Run Road, residence, erect, $109,000.

REAL ESTATE Home Creations, 12504 Edison Drive, residence, erect, $107,400. Home Creations, 3025 NW 181, residence, erect, $105,700. Home Creations, 15821 Crane Way, residence, erect, $102,500. Ideal Homes of Norman LP, 11445 NW 130, residence, erect, $101,000. Oklahoma City Parks & Recreation Department, 633 NW 52, recreation center, install, $100,000. Danforth Apartments LLC, 19501 N Pennsylvania Ave., clubhouse, erect, $100,000. Ideal Homes of Norman LP, 18608 Ochoa Drive, residence, erect, $100,000. Home Creations, 11225 NW 100, residence, erect, $95,700. Oklahoma City Parks & Recreation Department, 500 NW 47, recreation center, install, $93,000. Home Creations, 5704 Marblewood Drive, residence, erect, $86,000. Home Creations, 5702 Marblewood Drive, residence, erect, $79,000. Ideal Homes of Norman LP, 1205 SW 151 Circle, residence, erect, $77,000. AMF Development, 8005 Waters Edge Way, residence, erect, $75,000. AMF Development, 8037 Waters Edge Way, residence, erect, $75,000. Oklahoma City Parks & Recreation Department, 614 NE 4, recreation center, install, $72,000. Tommy Moore, 5500 S Richland Road, residence, erect, $70,000. Cornerstone Homes By Chris Moock LLC, 3600 NW 174, residence, add-on, $55,000. Gayle Ferguson, 1525 NW 40, residence, add-on, $50,000. Midwest Tile & Remodeling LLC, 701 SW 154 Place,

residence, add-on, $50,000. AT&T Mobility, 2012 Westwood Blvd., tower-antenna, install, $50,000. AT&T Mobility, 2012 Westwood Blvd., tower-antenna, install, $50,000. No name given, 2012 Westwood Blvd., tower-antenna, install, $50,000. Oklahoma City Parks & Recreation Department, 1113 SW 70, recreation center, install, $45,000. Oklahoma City Parks & Recreation Department, 2508 SW 95, recreation center, install, $42,000. Oklahoma City Parks & Recreation Department, 1120 S Western Ave., recreation center, install, $40,000. Robert Lambert, 3714 SW 23 Place, manufactured home, move-on-mobile home park, $36,400. J. Mark Gray Homes Inc., 17200 N May Ave., recreation center, remodel, $35,000. Oklahoma City Parks & Recreation Department, 1329 NE 48, cabana-gazebo, erect, $30,000. No name given, 2124 SW 29, parking, install, $25,000. Trilink Restoration Group LLC, 5901 Bluewater Road, residence, fire restoration, $25,000. Christy Robison, 2400 S MacArthur Blvd., manufactured home, move-on-mobile home park, $23,000. Thomas Babu, 604 Tompkins Drive, residence, fire restoration, $22,000. SBA Network Services Inc., 5502 SE 44, tower-antenna, install, $20,000. SBA Network Services Inc., 9219 S Shields Blvd., tower-antenna, install, $20,000. SBA Communication Corp., 7431 NW 85, towerantenna, install, $20,000. Santa Fe Station Mobile

THE OKLAHOMAN | NEWSOK.COM

Home Park, 501 SE 44, manufactured home, moveon-mobile home park, $18,500. David Ray Vandeventer, 13714 S Penny Drive, accessory, erect, $18,000. Oklahoma City Parks & Recreation Department, 3403 S May Ave., recreation center, install, $15,000. Covington Woodworking Inc., 12808 N Council Road, residence, remodel, $15,000. JNC Transport, 1329 Regatta Drive, manufactured home, move-on-mobile home park, $15,000. JNC Transport, 1429

Whitecap Lane, manufactured home, move-on-mobile home park, $15,000. JNC Transport, 9717 NW 10, manufactured home, move-on-mobile home park, $15,000. JNC Transport, 9717 NW 10, manufactured home, move-on-mobile home park, $15,000. CLS Group, 9036 S Sara Road, tower-antenna, install, $15,000. CLS Group, 9036 S Sara Road, tower-antenna, install, $15,000. CLS Group, 5401 NE 122, SEE PERMITS, PAGE 8E


THE OKLAHOMAN | NEWSOK.COM

HOUSE PLAN

Everheart large, comfortable The Everheart is handsome, luxuriously large and comfortably relaxed. And despite its 4,100 square feet of living space, plus nearly 2,000 square feet of detached garage, the front facade is unpretentious. Eye-catching features include stone veneer wainscoting, multipane windows and a collection of variously sized gables. Entering, you step into a wide lofty foyer, naturally illuminated by windows, sidelights and overhead dormers. Art showcased on the gallery wall separating foyer and great room will need spotlighting only at night. Multipane windows fill most of the spacious great room’s rear wall, and a 14-foot ceiling adds to the feeling of expansiveness. Many families may prefer to use this space as a family room. It’s open to the kitchen, with a raised conversation bar marking the boundary. The nook is handy for day-to-day meals, while the vaulted dining room stands ready for festive occasions. A built-in hutch fills most of one wall. When day is done, the owners can retreat to the Everheart’s deluxe owners’ suite and soak away stress in the roomy spa tub. A review plan of the Everheart 10-440, 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.associateddesigns.com. (800) 634-0123.

REAL ESTATE

SATURDAY, APRIL 6, 2013

.

7E

Alterations on Fannie, Freddie-backed mortgages to be eased BY MARY ELLEN PODMOLIK Chicago Tribune

The overseer of Fannie Mae and Freddie Mac is directing mortgage loan servicers this summer to begin offering a simplified mortgage modification to some struggling borrowers whose loans are backed by the two enterprises. Beginning July 1, the Federal Housing Finance Agency said, loan servicers will be required to reach out to eligible, seriously delinquent borrowers and offer them a three-month trial loan modification without the borrower providing any financial documents or hardship letters. The payments could decrease more if the homeowner documents income and financial difficulty. While different from the Obama administration’s Home Affordable Modification Program, the new program is similar to a short-lived effort under HAMP that offered no-doc trial modifications. That effort, designed to get more struggling homeowners into the program quicker, also led to mortgage redefaults and for a time, marred HAMP program results. Mortgage principal writedowns, considered a key ingredient of a housing recovery by the Obama administration because they benefit delinquent and seriously underwater borrowers, are not included in the program. But eligible borrowers who owe far more on their loan than the value of the home could see a portion of that amount tacked onto the end of the loan with no interest charged, according to the FHFA. The FHFA and Edward DeMarco, its acting director, have long been under fire for refusing to allow principal writedowns of Fannie Mae- and Freddie Mac-backed loans to make them more affordable. MCT INFORMATION SERVICES


8E

.

SATURDAY, APRIL 6, 2013

Permits FROM PAGE 6E

tower-antenna, install, $15,000. CLS Group, 11108 SW 15, tower-antenna, install, $15,000. Santa Fe Station Mobile Home Park, 501 SE 44, manufactured home, moveon-mobile home park, $15,000. Bleyl & Associates, 5401 NE 122, tower-antenna, install, $15,000. Bleyl & Associates, 11108 SW 15, tower-antenna, install, $15,000. Bleyl & Associates, 11722 S Western Ave., equipment, install, $15,000. Bleyl & Associates, 10912 N Council Road, equipment, install, $15,000. Bleyl & Associates, 3117 NE Grand Blvd., tower-antenna, install, $15,000. CLS Group, 2540 SE 94, equipment, install, $15,000. CLS Group, 1402 SW 89, equipment, install, $15,000. Sprint, 16025 S Western Ave., tower-antenna, install, $15,000. Sprint, 501 N Douglas Ave., tower-antenna, install, $15,000. Donald Arnhart, 3901 S Choctaw Road, accessory, erect, $13,880. John or Lori Craft, 2400 S MacArthur Blvd., manufactured home, move-on-mobile home park, $13,500. Daniel Gober, 5950 SE 89, accessory, erect, $12,000. McClendon Construction Inc., 217 NW 27, residence, remodel, $10,000. Rodney Ballard, 2717 NE 100, accessory, erect, $10,000. OK Innovative Construction, 3420 NW 68, accessory, erect, $8,000. Ron and Sara Higgins, 8512 S Olie Ave., residence, add-on, $7,500. Jimmy Frittz, 17312 Triana Drive, storm shelter, installstorm shelter, $7,000. Telecommunications Contracting Co., 11704 S Western Ave., tower-anten-

na, install, $7,000. Sweatt Construction LLC, 802 NW 8, apartment, add-on, $6,000. Betterliving By Sooner State, 3304 NE 18, canopycarport, add-on, $5,760. Tower Investments LLC, 1108 SE 17, residence, fire restoration, $5,000. Teresa Miller, 4420 Easy, accessory, erect, $5,000. Dagoberto Rodriguez, 3547 SW 22, canopy-carport, add-on, $4,500. Exit Strategy LLC, Carlos Cameron, 3008 NW 19, residence, fire restoration, $4,200. Becky Owings, 3405 Wayfield Ave., storm shelter, install-storm shelter, $4,195. Debbie Craig, 9921 SW 36, storm shelter, installstorm shelter, $4,195. Michael Craig, 9205 SW 30, storm shelter, installstorm shelter, $4,195. John Basgall, 2204 Coburg Place, storage, erect, $4,000. Lawrence Ensminger, 4612 NW 60, storm shelter, install-storm shelter, $4,000. Robert Stockton, 4702 N Portland Ave., storm shelter, install-storm shelter, $4,000. Robert Campbell, 10705 S Blackwelder Ave., storm shelter, remodel, $3,800. Brandi Stefanski, 8116 NW 114, storm shelter, installstorm shelter, $3,700. Anthony C. Larocco, 12617 Olivine Terrace, storm shelter, install-storm shelter, $3,600. Bryan Tucker, 11004 SW 6, storm shelter, installstorm shelter, $3,600. Dennis Byrne, 9905 Henderson Drive, storm shelter, install-storm shelter, $3,600. John Vice, 14041 Apache Drive, storm shelter, installstorm shelter, $3,600. Michael Sechrest, 12717 NW 5, storm shelter, installstorm shelter, $3,600. Randal and Michelle Breeden, 6104 Bentley Drive, storm shelter, installstorm shelter, $3,600. Ruthie Bost, 3041 SW 128,

REAL ESTATE storm shelter, install-storm shelter, $3,600. Taylor Hines, 12916 Cedar Springs Road, storm shelter, install-storm shelter, $3,600. James Allbee, 1408 NW 170, storm shelter, installstorm shelter, $3,500. Vortech Storm Shelters, 15330 S May Ave., storm shelter, install-storm shelter, $3,500. Dennis Lyons, 2309 SW 94 Terrace, storm shelter, install-storm shelter, $3,450. Stephen Culbert, 13537 SE 95, storm shelter, installstorm shelter, $3,450. John Bambick, 10713 NW 32, storm shelter, installstorm shelter, $3,400. Angela Lester, 8008 Curtis Terrace, storm shelter, install-storm shelter, $3,395. Davido and Laura Beal, 5609 NW 124, storm shelter, install-storm shelter, $3,300. Vu Duong, 9501 Watercrest Court, storm shelter, install-storm shelter, $3,300. Anthony Bowers, 2000 Wheatfield Ave., storm shelter, install-storm shelter, $3,200. Clint and Amanda Barefoot, 11816 Blue Sage Road, storm shelter, install-storm shelter, $3,200. Patrick McFall, 11216 NW 98, storm shelter, installstorm shelter, $3,200. Marla Balentine, 2729 NW 58, storm shelter, install-storm shelter, $3,100. Rick J. Duvall, 9932 Sudbury Road, storm shelter, install-storm shelter, $3,095. TDS Rental LLC, 8300 Sleepy Meadows Drive, manufactured home, install-storm shelter, $3,045. James and Ann Jackson, 1025 SW 108 Terrace, install-storm shelter, installstorm shelter, $3,000. Jeremy Hamel, 3008 SW 136 Terrace, storm shelter, install-storm shelter, $3,000. Jim Burton, 13237 SW 41, storm shelter, install-storm shelter, $3,000.

Jim Wall, 13304 SW 2 Terrace, storm shelter, installstorm shelter, $3,000. Merlin Burch, 8804 NW 112, storm shelter, erect, $3,000. Patrick Waddell, 1912 NW 193 Circle, storm shelter, install-storm shelter, $3,000. Raymond Pappe, 10120 S Shartel Ave., storm shelter, install-storm shelter, $3,000. Ricky Hayes, 2301 NW 155, storm shelter, installstorm shelter, $3,000. Rosalinda Gomez, 2463 W Sheridan Ave., residence, remodel, $3,000. Vortech Storm Shelters, 7629 NW 102, storm shelter, install-storm shelter, $3,000. Carrol Richardson, 7900 Wood Duck Drive, storm shelter, install-storm shelter, $2,995. Curtis Keller, 2300 NW 155, storm shelter, installstorm shelter, $2,995. Karl Easterly, 5104 SE 81 Terrace, storm shelter, install-storm shelter, $2,995. Kelly Kerfoot, 4812 NW 68, storm shelter, installstorm shelter, $2,995. Melvin Harris, 2324 NW 153, storm shelter, installstorm shelter, $2,995. Thad and Andrya McCormick, 1013 Westbury Court, storm shelter, install-storm shelter, $2,975. Lee Velasques, 500 SW 155 Court, storm shelter, install-storm shelter, $2,900. Kenneth Cole, 16408 Vicki Drive, storm shelter, install-storm shelter, $2,895. Gregory Myner, 805 Turtle Creek Road, residence, install-storm shelter, $2,875. Chase Tippens, 4721 Doe Run Drive, storm shelter, install-storm shelter, $2,800. Joseph Craft, 11313 SW 38, storm shelter, install-storm shelter, $2,800. Myra Kirk Brown, 16704 Ventana Blvd., storm shelter, install-storm shelter, $2,800. Colleen Flory, 1405 NW 147, storm shelter, installstorm shelter, $2,795.

THE OKLAHOMAN | NEWSOK.COM

Malori Dahmen, 7734 Doris Drive, storm shelter, install-storm shelter, $2,795. Norman Stevens, 4020 N Nicklas Ave., storm shelter, install-storm shelter, $2,795. Stacye Stevens, 14709 Gleneagles Court, storm shelter, install-storm shelter, $2,795. Waco Diffendaffer, 4900 NW 153, storm shelter, install-storm shelter, $2,795. Vortech Storm Shelters Inc., 3101 Quail Creek Road, storm shelter, install-storm shelter, $2,750. Christopher Remington, 4109 Johnson Farms Drive, storm shelter, install-storm shelter, $2,700. Jennifer Sweeten, 11832 S Douglas Ave., storm shelter, install-storm shelter, $2,700. John R. Noble, 11648 Marbella Drive, storm shelter, install-storm shelter, $2,695. Nicholas E. Armstrong, 12109 NW 133 Terrace, storm shelter, install-storm shelter, $2,695. Trent Freiberg, 6421 NE 109, storm shelter, installstorm shelter, $2,695. April Abbott, 2509 Lysander Place, storm shelter, install-storm shelter, $2,600. Charles Blizzard, 2329 NW 118, storm shelter, erect, $2,600. Robert Maness, 1308 Westchester Drive, residence, erect, $2,600. William Waller, 4713 SW 124 Place, storm shelter, install-storm shelter, $2,600. Chris Marks, 8520 SW 109 Court, storm shelter, install-storm shelter, $2,500. Karen Bustos, 14712 SE 79, storm shelter, install-storm shelter, $2,500. Linda Lundquist, 16705 Valderama Way, residence, install-storm shelter, $2,500. Willis Curnett, 18600 Dave Drive, storm shelter, install-storm shelter, $2,500. Sooner Carports, 3140 NW 34, canopy-carport, add-on, $2,500.

Ted Short, 9600 Lauren Drive, storm shelter, installstorm shelter, $2,495. Kristian Kos, 12717 St Andrews Drive, storm shelter, install-storm shelter, $2,485. Faith Technologies, 14901 N Pennsylvania Ave., office, move-on, $2,400. Russell Beaty, 16009 James Thomas Court, storm shelter, install-storm shelter, $2,400. Inghard Gjovaag, 19500 Chestermere Circle, storm shelter, install-storm shelter, $2,395. Justin Billinger, 5904 NW 160, storm shelter, installstorm shelter, $2,395. Matteo Winfree, 1608 NW 146 Terrace, storm shelter, install-storm shelter, $2,395. Lee Ponder, 1336 SW 122, storm shelter, install-storm shelter, $2,300. Christopher Floyd, 8200 SW 84, storm shelter, install-storm shelter, $2,200. Santa Fe Properties, 8901 S Santa Fe Ave., office, remodel, $2,000. Neok Oversight & Supervisor, 14201 N May Ave., business, supplement, $2,000. Danforth Apartments LLC, 19501 N Pennsylvania Ave., accessory, erect, $1,500. Kenny Sample, 1128 SW 81, canopy-carport, erect, $1,500.

Demolitions K&M Wrecking LLC, 2423 NW 1 Terrace, residence. K&M Wrecking LLC, 1241 Glenbrook Drive, residence. K&M Wrecking LLC, 2541 W Wilshire Blvd., residence. K&M Wrecking LLC, 911 N Shartel Ave., residence. K&M Wrecking LLC, 815 NW 7, residence. K&M Wrecking LLC, 1145 SW 84, residence. Kendall Concrete, 3238 NW 28, residence. UA Property Management, 1001 E Reno Ave., vacant. Ray’s Trucking, 3108 S Klein Ave., accessory.


REAL ESTATE

THE OKLAHOMAN | NEWSOK.COM

SATURDAY, APRIL 6, 2013

.

9E

Home equity lines of credit begin comeback BY PAUL GORES Milwaukee Journal Sentinel

Home equity lines of credit, which soared in popularity during the housing boom but faded as residential real estate values crashed, are starting to make a comeback. The growing revival in consumers taking out loans secured by their homes is being driven by several factors, but chief among them is that home prices finally have stabilized in the slowly improving economy, bankers and analysts said. “It’s clearly a reflection of the economy,” said Thomas R. Homberg, leader of the financial institutions practice group at the Milwaukee law firm Godfrey & Kahn. “Housing has rebounded, and you see consumers out there buying things.” Nationally, home equity lines of credit by banks peaked at $668 billion in 2008, just as the recession was about to dig in and an overheated housing market was beginning its collapse. By 2012, they had decreased by 17 percent to $554 billion, according to the Federal Deposit Insurance Corp. But some banks are advertising home equity lines of credit again, often with low introductory interest rates. Home equity lines of credit are revolving lines of credit in which the borrower’s house serves as collateral. The interest rate normally is variable, tied to an index.

Banks and credit unions also offer traditional second mortgages, which provide a fixed amount of money that is repaid over a fixed period of time. During the housing bubble, when many lenders and investors mistakenly assumed residential real estate values would keep appreciating, some consumers overused the equity in their homes to buy whatever they wanted — from cars to home improvements to vacations — and supported a lifestyle their incomes could not. It ended in financial hardship, if not ruin. Lending standards have tightened since then, said Greg McBride, a financial analyst with Bankrate.com “The home equity loans and lines of credit that lenders are looking to issue now require the borrower to retain typically a 20percent equity stake, so there’s a sufficient margin of safety there,” McBride said. Although financial institutions have been criticized by politicians for not doing enough lending since the recession, the problem for banks has been finding qualified borrowers who are reasonably certain to pay the money back, McBride said. “Banks are in business to loan money,” McBride said. “This nonsense that banks don’t want to make loans is like saying McDonald’s doesn’t want to sell hamburgers.” MCT INFORMATION SERVICES

Owner Financing

New addition called Grand Safari Nice Acreages from 1 acre to 6.75 acres m/l Easy Approval » Call for maps www.property4sale.com 405-273-5777 PUBLIC NOTICE! Foreclosures: MUST GO! FixerUppers HUD REO& BnkOwnd Homebuyers/Investors welcome Call for FREE list of 2-4bd homes PATRICK W/Allied 405-740-6616

We Buy Houses

928-1400 Cash Offer - We Pay More

I BUY HOUSES

410-5700

Any condition. No cost to U

I BUY & SELL HOUSES 27 YRS EXP 650-7667 HOMESOFOKCINC.COM

’ $399 MOVES YOU IN ’

1, 2 & 3 beds ’ Pool ’ Laundry, Community room! Housing assistance accepted. 755-0300 VALENCIA APTS APTS/TOWNHOUSES 2221 N Meridian $99 Special 946-6548

FIRST TIME HOMEBUYERS FREE Downpayment Assistance Available to Buy Your Home! NO Closing Costs - Save $1000's Call for FREE list of 2-4bd homes Patrick w/Allied 405-740-6616

20 AC MOL w/trees & creek! Great bld site very private & secluded. Piedmont schls outside of city limits. Red. to $150,000 Carmen 405-833-0106 Cleaton & Assoc 405-373-2494

OWNER FINANCING 3240 S. Madole Bvd. 3bd, 1.5ba, newly remodeled. Bad credit ok. $89,000 - 20% dwn. 405-225-6385

PIEDMONT OPEN SUN 2-5 Model home. New hms on 1/2 ac lots. From NW Expwy & Sara Rd go 4.5 mi N Cleaton & Assoc 373-2494

UNDER const on 1.02 MOL 4bd or 3+off 3.5ba 3283' MOL Bonus rm $355,000 Kristin 405-314-6496 Cleaton & Assoc 405-373-2494

TAKE OVER 10 ACRES No Down. $79/Month. Trees. Deer. Southeast Oklahoma. 818-340-1912 www.grland.com 1N to 10A E of OKC, pay out dn. 100's choices, many M/H ready TERMS Milburn o/a 275-1695 www.paulmilburnacreages.com Call for Maps! See why we sell more acreages than anyone in Okla. E of OKC. o/a 275-1695 10 acre tracts. Moore schools. »»» 405-570-7774 »»» 75 ACRES, wooded, 20 min. from OKC, (405)426-5566/360-6586 Co. 10 acres, steal for $24,900 Cash! HWY 9 & Bethel Rd. 301-6495 150 ac for Sale: Newcastle, $9000 per ac 8" water line 405-406-0076

2 bed, 2 bath, cute remodel, beautiful grounds, great location in Belle Isle area, $73,900, 694-8688

161 acres, 71 farmland, 90 grass SE of Chickasha 405-785-2791

WILLIAMSBURG APTS 7301 NW 23RD $200 OFF 1ST mo 787-1620 5944 NW 40th-Large 1 & 2bed, $345 to $445 mo, stove, fridge, covered prkng. No Sec 8 470-3535 Furnished/Unfurnished. Bills Paid » Wkly/Mnthly. Wes Chase Apts Elk Horn Apts, Hillcrest, 370-1077

Owner's retiring - Dry Cleaners & Laundry, est. 1998; Convenience store w/bait shop. Located in beautiful SE Okla. 918-839-0519 C-Store/gas, $40K Goodwill + inv. $2500mo; For sale $325K. Owner fin. Busy loc. Okc 405- 834-4464

3 Properties for Sale located in Shawnee, good package for $200,000 neg. Call 405-275-1745

800 N Meridian

1bed All Bills Paid 946-9506 •ABC• Affordable, Bug free, Clean » 787-7212» MAYFAIR Great loc! 1&2 bd W/D hdwd flr quiet secure ¡ 947-5665

PIEDMONT OPEN SUN 2-5 Model home. New hms on 1/2 ac lots. From NW Expwy & Sara Rd go 4.5 mi N Cleaton & Assoc 373-2494

Office or Retail Space in Yukon Arvest Plaza - 915 Cornwell Dr. Call Jim at 405-942-9905 GREAT Office Space. Various NW locations, 300-6000sf 946-2516

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

2900 SW 60th. Spacious 4bd 2ba 2car garage, corner lot, clean & fenced, $850mo Fidelity 410-4200

$450

1715 Craig 4/2/2 $1250 1508 NW 179 Tr 3/2/2 $1295 410 Sunnyside 2/1/1 $795 Express Realty 844-6101 www.expressrealtyok.com

Newly Remodeled Townhome 2720 SW 74th 2bed 1.5 ba $525 & dep No pets or S8. (405)702-5004 http://ads.newsok.com/bppm

Double Your Tax Refund up to $5000 w/new home purchase. Don't prejudge credit. E-Z qualify by phone. New & repo homes available 405-631-7600 WAC

3212 Dumas Ln Sharp 2bd 1ba 1car $525mo Harris RE 410-4300 3bd, 2ba, 2car, fp, fncd yd, Moore schls, 1yr lse, $1050mo, 210-6721

3600 NE 143, 3 bd, 2K ba, 2 car, all beds & 2 baths upstairs, ch&a, $1145/mo, $1145/dep, 370-1077. 3600 NE 143, 3 bd, 2K ba, 2 car, all beds & 2 baths upstairs, ch&a, $1145/mo, $1145/dep, 370-1077.

Rent to own, 3bd 1.5ba, Moore Schools, $850/mo, 405-275-1745

7007 Pebble Ln, 2 bd, 2 ba, 2c gar, Duplex in PCN area, quiet neighborhood $800 + dep. No Sec. 8, Call Keith, 405-413-2555

Double Your Tax Refund up to $5,000!! Use refund & receive Visa gift card with new home purchase. No refund, use your land/family land ZERO down. E-Z qualify by phone. WAC 631-7600

1021 Mobile Cr 3/1/1 $750 1014 Biloxi 3/1/1 $725 Express Realty 844-6101 www.expressrealtyok.com 3049 Pinecrest 3/2/2 1200sf $950 Home & Ranch Realty 794-7777 Furnished 2bd, detach gar, wood floors $675 Harris RE 410-4300

408 Willowood Drive, luxury 2/2/2 duplex in quiet Silver Eagle neighborhood. Community pool, gardener, secure entry. $875/mo + deposit. No Sec. 8. Call Keith, 405-413-2555

1500 Carlisle Ct. 3/1/1 $1095 Express Realty 844-6101 www.expressrealtyok.com 3/2/2 new carpet ¡‘¡ $1050 6209 N Warren Ave ¡ 341-5504

2 bed, 2 bath, fp, $695 rent + dep. 3201 NW 50th, #201. 640-7209

7605 Eastgate Dr. 4bd, 3ba, 2car. 1 yr lease. $1250 405-627-2200

YUKON 2bd, 2ba, 2car $650mo + $500dep, No pets. 405-209-4084

Luxury master ste 4/2 stone walk to school 2300sf $1195 255-4300

2bd Mbl Hm $395mo, $150dep. Refs req. 343K SE 44th 321-4773 Rent to Own: Nice 2 & 3bed MWC $350 & up 390-9777

Darling 2B 1B 1C Hdwd flrs ch/a 3028 NW 68th $825mo 830-3399

Abandoned D/W set up on 6 acres. Ready to move in. Many to choose from. Statewide 631-7600

Nice 3/1.5/1, $650 mo, 82nd & Harvey area, 817-480-4353.

Own your home for less than rent payments as low as $650 for a 3 bed 405-787-5004

ROOM: share kitchen, bath, laundry, private entrance, cable incl. $375/mo+food. 405-979-9399

ALL BILLS PAID FURNISHED off NE Kelly 1bed $485mo 427-7566

3 bd 2 bth, fireplace OWN IT for $700 mo. owner finance 405-324-8000

Rent to Own: Nice 2 & 3bed MWC $350 & up 390-9777

1920 Karen Dr 2bed 1bath 681-7272

Lake View Property - Very Pretty 3 bed, 2 bath, 2 car, red brick home, new hardwood floors, near HOA pool, $1,100/mo + security. 6713 Stonycreek Dr. 209-2629 OPEN HOUSE - SUNDAY 2PM

2012 Closeout Sale Valley Homes is offering NEW 2012 Cavco double & single wides at used home prices. Call Cayce at (405) 203-3777 or Jonathon (405) 207-6868 today for details & pricing

10008 Shadowview 3/2/2 $1195 10102 Shadowview 3/2/2 $1250 Express Realty 844-6101 www.expressrealtyok.com 1406 Youngs newly built 2/1 $465 4025 SW 25th 2bd 1ba $475 2212 SW 30th 2bd 1ba dplx $525 Free List ¡ 681-7272

1516 Parkwood Ter. Cen H/A 5/2/0 Lgr livg rm, 1700 sf $780+$600dep, 415-5155

Large 1 & 2 beds. Stove, refrig, 3 SW OKC Locations $345-420mo No Sec 8 632-9849

4201 Windgate West Super sharp 3bd 2ba 2car home, only 4 yrs old, like new condition, fireplace, Western Heights Schools. Only $1250. No pets Fidelity 410-4200

11211 Stewart 3bd 1ba, detached garage, 2.5 acres $750 681-7272

1 bd furnished. $395mo, $150dep. Refs. reqd. 343 SE 44th 321-4773

» $99 Special »

2011 Solitaire REPO 18x80 3bd 2 bth as low as $410mo 787-5004 www.thcmobilehomes.com Brick 3 bed, 1 bath on K acre culde-sac, $28,900 cash, 301-6495

1 & 2bed, newly remodeled, ch/a, 1830 NW 39th 524-5907 TEXOMA LAKE • 2002 16x80 MH Little Glasses Resort. Gated, 24hr security (405) 249-3312 737-7083

Bills Paid

Furnished/Unfurnished Weekly/Monthly 370-1077

PARKLANE 2&3 BD TOWNHOMES 8100 N MACARTHUR BLVD $200 OFF 1ST MO. 721-5455

Putnam Heights Plaza

BUNDLE! 5 Duplexes, 1898sf ea, 2bd $449,500 Realty Exp 414-8753

7601 NW 113th Pl, 2/2/1, ch&a, $760/mo+dep. No Sec 8. 301-4695

MOVE IN NOW!

Pd. water/garbage Quiet. Try Plaza East • 341-4813

2/2/1 large duplex, all appls. no pets no smokers no section 8 4302 N June Ave. $800mo Open April 1 2-6pm 918-489-2837 2116 NW 11th 2bed 1bath 681-7272

$550

529 SE 72nd 3bd 1.5ba $650 2021 S Central 3bd 1ba $475 112 SE 40th 1bd duplex 1ba $350 681-7272 » Sharp 2 or 3 bed Available » $650-675 Harris RE 410-4300 3 bed home $550mo, $150dep. Refs req'd. 340 SE 43rd 321-4773

Log Cabin Home, sleeps 6 bransoncabinrentals.com 225-933-8583


10E

SATURDAY, APRIL 6, 2013

THE OKLAHOMAN

NEWSOK.COM

The Oklahoman's Real Estate section  

The Oklahoman's Real Estate section

Read more
Read more
Similar to
Popular now
Just for you