- YUKON OK Real Estate Market Statistics May 2014
- MUSTANG OK Real Estate Market Statistics for May 2014
- Paseo Arts Festival – Experience Great Art & Great Food
- How Much Do You Need for a Downpayment?
- Let’s Talk Real Estate! Learn About Your Neighborhood
- Community of Moore, OK Welcomes New Park Plans
- NEW HOME ON CORNER LOT W/Granite & Covered Patio
- McMansion or McPrison? Buying Too Much House?
- PRIDE OF OWNERSHIP! ONE OWNER HOME FOR SALE IN YUKON OK
- New Phase in Hunters Hill in Mustang – New Homes for Sale!
Posted: 25 May 2014 09:57 AM PDT
Posted: 25 May 2014 08:36 AM PDT
Posted: 23 May 2014 10:49 AM PDT
PASEO ARTS FESTIVAL
Yes, it starts tomorrow!
Paseo Arts District
The 39th Annual Paseo Arts Festival will take place once again on Memorial Day weekend. More than 80 visual artists will fill the Historic Paseo Arts District, located between NW 30th and Dewey and NW 28th and Walker, selling original artwork in a wide variety of media, from painting and photography to wood and jewelry. The Festival also hosts dozens of musicians and other live performers on two stages. The North Stage features acoustic acts and singer-songwriters, from folk and country to bluegrass and much more, while the South Stage spotlights dancers, acts that get a little louder, and some of the Festival’s most popular returning acts. The food court at Paseo Drive and 29th will feature different food vendors, bringing traditional and not-so-traditional festival treats, both savory and sweet. A children’s area, offered at no cost, allows future artists to explore the arts and have fun while creating clay sculptures, spin art, and more.
Posted: 17 May 2014 08:30 AM PDT
HOW MUCH CASH WILL YOU NEED TO BECOME A HOMEOWNER?
When you are saving money for your first home, it can be daunting to think about how much cash you will need to become a homeowner.
While there are FHA-insured loans that require just 3.5% for your down payment, those loans require you to pay mortgage insurance for the life of the loan, which will keep your monthly payments higher. Most conventional lenders offer home loans with either a 10% or a 20% down payment, although some lenders offer loans requiring as little as 5% down.
You will need to consult with a lender to evaluate your individualized loan options, but before you do that, you should consider the pros and cons of various down payment scenarios.
WHY A 20% DOWN PAYMENT IS IDEAL FOR LENDERS
Mortgage lenders evaluate your credit profile, your debt-to-income ratio, your job history and your assets to make an educated guess about whether you will manage to repay your loan responsibly. A 20% down payment is viewed as ideal by lenders because you are investing a significant amount of your own money in your home and therefore the lender's risk is reduced.
If you make a 20% down payment, you won't have to pay private mortgage insurance. PMI provides insurance to the lender in case you default on your loan.
BUYER’S ADVANTAGES OF 20% DOWN
In addition to eliminating the need for PMI, a 20% down payment will qualify you for a slightly lower interest rate than a borrower who makes a smaller down payment. Another benefit is that you will borrow less money, making your monthly payments smaller.
In addition, you will instantly have 20% equity in your home, which you can borrow against in the future or get back as part of your profit when you sell.
On the other hand, keep in mind that 20% of the average home price in OKC Metro ($150,000) is $30,000. It can take years to amass that much cash and you will need additional cash for closing costs, cash reserves in case of an emergency and moving costs.
In the meantime, home prices may have risen and interest rates may have gone up, both of which will increase the cost of your purchase.
SMALLER DOWN PAYMENT PROS & CONS
If you make a down payment of 10% ($15,000 on the average home) or 5% ($7,500 on the average home), then you will be able to become a homeowner faster, since you won't have to save as much cash. If you are able to save additional cash, it's a smart idea to keep a robust savings account to cover emergencies and even anticipated expenses of homeownership such as maintenance and repairs.
There are some disadvantages, however, to making a smaller down payment:
The decision about the size of your down payment depends on a variety of factors including home prices in your area and your income. Find a good lender who will consult with you and help you make the best choice in the context of your individual financial plan.
Are you ready to start your homeownership journey?
Call us today! Bo 812-1572 or Buster 630-0277
Posted: 16 May 2014 07:07 PM PDT
DO YOU KNOW WHAT’S HAPPENING IN YOUR NEIGHBORHOOD? The real estate market is continuing to change rapidly. The number of homes for sale in your area can determine how much you ask for your home. Technology plays a big part in how your home is marketed, and it has completely changed the way that we market your home today. We would like to provide for you market conditions in your neighborhood. You may not be ready to buy or sell your home, and that is ok. But, it's nice to keep abreast of how your neighborhood is doing in today's market. Knowing about your neighborhood will help you and your friends know more about the current real estate market.
Well, let's get busy and learn about your "Neighborhood." We'd love to talk real estate with you!
Buster 630-0277 or Bo 812-1572 or drop us a line with your questions at Bo@WelcomeHomeOKC.com
Posted: 15 May 2014 01:02 PM PDT
MOORE, Okla. – A brand new multi-million park is coming to the heart of Moore, Oklahoma.
Nearly a year after a devastating tornado ripped through town, the city will break ground on the new park today.
Back in Nov. voters approved plans for a "Central Moore Park.
The $25 million plan includes:
A special monument will also be built on site which will be funded through private donations. The $3 million monument will be made of Cor-Ten steel and feature silhouettes of real Oklahomans, some with their pets, representing the community affected by last spring's storms.
The park will be on 4th St. and Broadway near the center of Moore.
Posted: 11 May 2014 02:07 PM PDT
NEW HOME ON CORNER LOT w/GRANITE & COVERED PATIO
Posted: 09 May 2014 06:56 PM PDT
McMANSION OR McPRISON?
The sprawling McMansion that someone said you can afford may quickly turn into a McPrison when all of your money is locked up in it. There are lots of home affordability guidelines out there. Start with this one:
Posted: 21 Apr 2014 11:28 AM PDT
Pride of Ownership! Like New Home for Sale in Yukon OK
Posted: 15 Apr 2014 08:30 AM PDT
NEW PHASE IN HUNTERS HILL IN MUSTANG – NEW HOMES FOR SALE
New development phase of Hunter Hills in Mustang is under way. Two new houses are half way finished. Both are around 1800 sqft with two car garages. Built by Oklahoma’s oldest building firm celebrating 108th birthday. QUALITY and VALUE – this builder delivers!
Contact us for more information or to schedule a preview. If you plan to invest in a new home this is the time to check them out and customize to your liking.
Give us a call, text or email – WE WILL BE HAPPY TO ASSIST YOU with any of the houses around OKC Metro.
How can we help? Do you have a question? Ask and we will address your concerns - promise no strings attached!
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