The interesting thing mentioned in a NewsOK.com article published today is that while Tulsa’s foreclosure rate has risen dramatically, Oklahoma City’s has actually fallen.

Overall, our state’s real estate market is very strong, but we’re not without fault altogether. Any ideas on why there would be such a dramatic difference between Tulsa and the OKC metro foreclosures?

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3. Multiple Offers in a ‘Buyers Market?’ According to an article recently published on Realtor.org, states hit hard with foreclosures are experiencing...

I’m curious how many Americans would be willing to live in a house like this one:

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The thought of my roommate no longer being just my roommate, but my renter can sometimes be a taxing proposition. Not that our relationship as friends has suddenly become more formal, but I’m now realizing that as my tenant her reasonable enjoyment and standard of living are my responsibility, as far as the roof over her head goes. If my water-heater goes out, I might be able to live for some time with cold water until I can get it fixed or work out some other solution. However, with a renter, I’m not the only one to consider. With her living under my roof, as my tenant, I’m now saddled with the responsibility of fulfilling contractual obligation to my tenant. As our agreement states, I “must complete major repairs to necessary systems/services in a timely manner so not to disrupt daily life beyond reasonable limits.”

Occasionally, if the water-heater makes a funny noise, or a major appliance goes down, the panic sets in the back of my mind. Usually, my fears are subsided by the fact that monthly rent checks are profit for me, and usually mean a surplus of monthly funds. That’s the key to making the transition to landlord successful for you; making it a profitable venture, not a venture that is necessary to make ends meet. If it’s something that is necessary, you’re buying too much house and might need to reconsider. I bought a home that I could afford to live in on my own, and I did so with the intention of keeping a roommate to help myself pay down my mortgage quickly. I also knew that if she were to get married or move away, I’d be okay without her.

If you’re a first-time homeowner and you’re single, weigh the risks and benefits of having a roommate to offset the costs of ownership. You may find it’s not right for you, but you may find it is. Speaking strictly in terms of financial benefits, for me, having a roommate made more sense than going it alone even though it wasn’t a requirement for me to pay the mortgage. Before you sign that agreement with your roommate-turned-tenant, think about the weight that responsibility really carries. Ask yourself if you’re really ready for that. However it turns out for you, Happy Homeowning (or Landlording?).

Fallon Brooks is the keeper of one mortgage, a roommate, a dog and two cats… an avid tweeter, who bought her first home October 2009 and enjoys sharing what she learns with other soon-to-be home owners.

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Continue Reading…

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Last week’s video blog from West Edmond is for the local Realtors and the home sellers, about making your home/listing as easy to show as possible, and why it’s so important. Please feel free to voice your opinion on this topic in the comments below, and have a great day!!

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1. Don’t Screw Yourself In the Name of HGTV Last week’s video blog was in my office in Edmond, OK about keeping it...
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1. Large artwork will make small rooms appear bigger, so skip the random hanging of small prints and go for one sofa-sized painting or blow up a photograph using a site like Photogonia.
2. Monochromatic color schemes can be your best friend, especially when staging a home to sell. Using many different colors causes the eye to jump around and can visually break up a room. A monochromatic scheme (the use of various shades of the same color) encourages an ebb and flow appearance and makes even dark, small rooms less claustrophobic. For example, a bedroom could be visually enlarged by using a khaki-colored carpet, beige bedding and a neutral paint on walls (try Sherwin Williams’ ‘Trusty Tan’ or ‘Macadamia’).
3. Speaking of paint, a ceiling that is painted lighter than the walls will always make the room appear taller. For example, choose your wall color on any paint swatch. Now move up the swatch two shades and that should be your ceiling color (in most cases).
4. Sky-high drapes can fool almost anybody. Use this trick when working with drapery panels: Hang your rod about 3″ below the crown moulding (or where the wall meets the ceiling if you have none). Even if your windows are only 75″ high, hanging 85″ drapes above the window frame instantly makes the room look taller! Staging a home? Leave the panels pulled to the side so that potential buyers can enjoy the view.
5. Unified flooring is key. No matter what your square footage, multiple flooring materials shrink a space. Stick with one or two surfaces (such as wood panels in the living areas, carpet in bedrooms) to keep a nice flow throughout the home and visually increase size.

Jennifer Hicks is a Certified Interior Designer and Owner of Designing Diva Interiors, LLC

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Our local RE pro, Richard Mize printed a nice summary of the festivities, as they ‘moved that bus,’ and here’s a nice little video about the project:

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Last week’s video blog was in my office in Edmond, OK about keeping it in perspective when making an offer on a home. You can see the statistics I referenced here, and feel free to voice your opinion on this topic in the comments below. Have a great day!!

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3. If You Don’t Buy a Home Now, You’re Stupid or Broke In yesterday’s video blog from Bricktown, I discussed a Business Week article I read...