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Foreclosure Filings the Lowest in 5 Years
Foreclosure filings are at the lowest in 5 years. Finally, the wave of foreclosures around the nation is much less according to recent reports by RealtyTrac. Their reports show that there is a decline of 7% in September from August and far below one year ago of 16%. The recent report shows that foreclosures are the lowest since the fall out in 2007.
These days, foreclosures are not making headlines like they once were. However, some economists believe there could be another wave of foreclosures to hit the housing market. Since the mortgage settlement was reached in April, many experts believed the market would once again be flooded with repossessions. But, that is not the case now.
Foreclosures are down more steeply in some states over others. Part of the reason for the decline is overall economy improvement. The government and banks have also helped with their efforts to prevent foreclosures. The Home Affordable Modification Program was a big factor in getting millions of homeowners down to an affordable mortgage payment.
Banks are still a big part of the recovery as they continue to help homeowners look for ways to keep from foreclosure. Many banks are letting homeowners refinance at lower rates or they are agreeing to short sales, which is a more preferred method over foreclosure. And, the improving economy is helping more people get and keep jobs so they can pay their mortgages.
This foreclosure update is brought to you by: Tom and Bev Herring - Your real estate resource for Tulsa, OK and surrounding communities.
Tulsa, OK November Expos, Shows & Events
This November, Tulsa will have a lot going on with expos, shows and events for the whole family to enjoy. There, we have found a list of some of the most exciting to share.
Tulsa OK November Events:
√ South Tulsa Baptist Arts and Crafts Expo – This will be the 5th annual Arts & Crafts Expo for South Tulsa Baptist. The event will have a variety of local vendors selling, home décor, photography, jewelry, woodcraft items, baby items, and more. There will be a concession and bake sale also. Admission is free.
Date: November 10, 2012
Time: 9am to 4pm
Location: South Tulsa Baptist Church – 10310 S Sheridan Rd.
√ Mistletoe Market – This craft show features Tulsa’s unique creativity and talent. There will be local businesses and party vendors there also. Admission is free.
Date: November 10, 2012
Time: 9am to 3pm
Location: Legacy Christian Academy – 1201 N Elm Place, Broken Arrow
√ Wanenmacher’s Tulsa Arms Show – This arms show is the world’s largest gun show.
Dates & Times:
November 10, 8am to 6pm
November 11, 8am to 4pm
Location: Quick Trip Center
Price: $10 per adult, $3 for 12 and under
√ Kids World 2012 – Kids will get to discover over 30 different cultures and countries through live activities, entertainment and great food. Watch dancers from India, try on Dutch shoes, write your name in Japanese and more.
Date: November 15 – 17, 2012
Time: 9am to 6pm Thursday, 9 am to 8pm Friday & Saturday
Location: Exchange Center, Expo Square – Tulsa Fairgrounds – 4145 East 21st Street
Price: $5
√ Thanksgiving Outreach – This event is for the community. There will be free hot chocolate, hot dogs, haircuts, clothing, oil changes, balloon animals, face painting and Thanksgiving dinners. There will also be services provided for those who want to attend. Admission is free.
Date: November 17, 2012
Time: 11am to 2 pm
Location: World Outreach Church – 8863 E 91st St.
√ Route 66 Marathon – This event is held annually the Saturday and Sunday before Thanksgiving. This will be the 7th anniversary for the Williams Route 66 Marathon weekend. The event includes a fitness and health expo, marathons, walks, live music and fun for the whole family to enjoy. If not running or walking, admission is free.
Dates: November 17 – 18, 2012
Time: 8am
Location: Veterans Park – 19th and Boulder
This Tulsa’s November events information is brought to you by: Tom and Bev Herring – your real estate resource for Tulsa, OK and surrounding communities.
Tulsa Oklahoma’s Gilcrease Museum
Tulsa Oklahoma’s Gilcrease Museum is another great reason to relocate to Tulsa, OK. The museum is located in downtown Tulsa and now houses the world’s biggest and most comprehensive collection of American West art. They also have a growing collection of artifacts and art from Central and South America.
Gilcrease Museum is a must see for every art and culture buff. Many of the most famous American artists have their work displayed in the Gilcrease Museum. Some of those famous names include Thomas Moran, Albert Bierstadt, Joseph Henry Sharp, Frederic Remington and many more.
The museums art collections focus on the cultural history of North, Central and South America. There are approximately 300,000 artifacts that cover historic and prehistoric archaeology. These artifacts are materials from Native American, Anglo-American, pre-Columbian and Hispanic cultural traditions.
Gilcrease Gardens is also a must see. There are twenty-three acres of themed gardens that reflect gardening styles and techniques from four time periods in the American West, including Pre-Columbian, Pioneer, Colonial, Victorian and there’s even a rock garden.
When you’re hungry, you can enjoy the Restaurant at Gilcrease. The restaurant overlooks the splendid Osage Hills that surround the facility.
If you like this Tulsa museum, you may also like other Tulsa Museums. There are many in the area; therefore, we have found an online directory of all Tulsa OK Museums for your convenience. Click here for the directory.
This Tulsa OK museum information is brought to you by: Tom and Bev Herring – your real estate resource for Tulsa, OK and surrounding communities.
First-time Tulsa Homeowners Moving to New Rehabilitated Homes
First-time Tulsa homeowners will soon be moving to new rehabilitated homes in the Tulsa, OK area. The mayor recently announced the three lucky first-time homeowners who will get new homes through the City’s Rehabilitation Program; a program that is partnered with the Tulsa Development Authority and Wells Fargo Bank.
Wells Fargo foreclosed on a few properties in Tulsa earlier this year in hopes to help rehabilitate them and increase property values in the surrounding neighborhoods. Three of those homes were chosen by the Tulsa Development Authority and Wells Fargo to be part of the program.
Each of the three recipients of the rehabilitation program received a grant for $35,000 to rehab the homes with new siding, kitchen and bath fixtures, heating and air, and appliances. The recipients also had to attend New Homeowner Training that was giving by the Tulsa Housing Authority.
Now, three happy families will be moving into their first new home and will soon discover the pride of being a homeowner. It’s a wonderful feeling knowing that you can take care of your family while pursing the American dream.
The rehabilitation program was started in Tulsa to help retain safe housing for all the citizens of Tulsa, OK. And unknown to many local Tulsan’s, the program has been in effect for over 20 years. The program is there to assist individuals and families who meet certain income levels to own a rehabilitated residence.
This rehabilitation program information is brought to you by: Tom and Bev Herring – your real estate resource for Tulsa, OK and surrounding communities.
Tulsa’s Largest Family Event – The Tulsa State Fair
Tulsa’s largest family event, the Tulsa State Fair will be here September 27 through October 7 at Expo Square in Tulsa, OK. Along with cool rides and attractions, the fair will have a variety of free concerts on three stages. There will be some big names coming to the Tulsa State Fair this year.
The fair attractions will include a variety of entertainment you don’t want to miss. There will be featured attractions and daily attractions including just for kids adventures, the Muscogee Greek stage, the Bud Light tailgate tent, the international beer garden, a wine garden, a culinary stage and more. And best of all, each attraction is free with your paid general admission.
Disney on Ice will perform at various times each day and you don’t want to miss the biggest event, the PRCA Rodeo and concert series. Rodeo and concerts will be October 5 and 6 at 7pm. For an additional $30 you will get to enjoy the rodeo and live performances by Jake Owen and the Randy Rogers Band.
Don’t forget to have fun on the rides and visit the livestock shows and the competition exhibits. For more information about the fair you can visit www.tulsastatefair.com.
Tickets prices are as follows:
Friday-Sunday – $10 for adults
Monday-Thursday – $8 for adults
Military, Seniors 62+ and Youth 5-12 are $6
Children Under 5 – Free
Tulsa’s biggest family event information is brought to you by: Tom and Bev Herring – your real estate resource for Tulsa, OK and surrounding communities.
Affordable Neighborhoods in Midtown Tulsa
Unknown to many potential homebuyers, there are several affordable neighborhoods in Midtown Tulsa. So, if you are a bargain hunter looking for a nice historic home in Midtown Tulsa, you should consider the Stonebraker Heights area, the Tracy Park areas and the Maple Ridge area.
These areas of Midtown are steadily growing stronger. Several homes have even been renovated and updated. And although many consider these areas to be transitional, you can find great bargains. Plus there have been great amounts from public and private investors that have helped revitalize downtown Tulsa, OK, which has helped these neighborhoods make a comeback.
More affordable homes can be found in areas that border Midtown Tulsa such as north by I-244, west by the Arkansas River, south by 21st Street and east by Yale Avenue. Some of the most popular neighborhoods were built in the 30s, 40s, and 50s, including Florence Park and Lewiston Gardens. You can find beautiful three bedroom homes in the $150,000 to $200,000 range.
If you’re looking for even better bargains, you can find them north and south of the Tulsa County Fairgrounds near Yale Ave and 21st. There are homes in these areas that can be snatched up for less $100,000.
Tom and Bev Herring – Your real estate resource for Tulsa, OK and surrounding communities.
Tulsa, OK July Family Events
Tulsa, OK has several events this July for the whole family. Therefore, we have found a few that you may not want to miss out on. So, gather the family and grow together with summer family fun.
Tulsa’s Family Events in July:
Mini Masters – The investigation into different elements that make up art, forms, colors, textures, shapes, contrast and lines. Kids will get to view a variety of art techniques while they explore the galleries. Events each Thursday and Friday from 10am to 11am for children ages 3 to 6 at Gilcrease Museum – 1400 N Gilcrease Museum Rd in Downtown Tulsa. For more information, call 918-596-2700.
The Kids On First Performing Arts Academy – If you or your child can perform, you can join in the national competition that will be held this month. All acts are accepted for ages 3 – 25 years. You can get complete details at 877-745-5162.
Cool Off – It’s hot and the pool is open. Cool off at several public pools in Tulsa…
Lacy Park – 2134 N Madison Place
McClure Park – 7440 E 7th Street
Reed Park – 4233 S Yukon Avenue
Zeigler Park – 3903 W 4th Street
Springdale Park – 2223 E Pine Street
Turner Park – 3503 E 5th Street
Whiteside Park – 4009 S Pittsburg Avenue
Manion Park – 3003 E 56th Street
Berry Park – 5002 N Wheeling Avenue
Hawthorne Park – 955 E 33rd Street North
Preschool Story Time – Each Tuesday from 10:30am to 11am, bring your child ages 3-5 to the Tulsa Library for story time fun. Times and locations may vary, so visit www.tulsalibrary.org for more information.
Tom and Bev Herring – Your real estate resource for Tulsa, OK and surrounding communities.
Tulsa, OK Ranks High in Rising Real Estate Markets
As home values continued to rise this spring, Tulsa, OK ranks high on the list for rising real estate markets. Many hard-hit metro areas are finally seeing home values going up. Topping the list is one Arizona market followed by several Florida markets.
Tulsa, OK comes in fourth on the list followed closely by Oklahoma City at sixth on the list. So, if you’re looking to relocate to one of the top rising real estate markets, check out what all Tulsa and its surrounding communities have to offer.
Other cities you will find on the list of the top ten rising real estate markets:
1. Phoenix, AZ
2. Fort Myers, FL
3. Miami, FL
4. Tulsa, OK
5. Grand Rapids, MI
6. Oklahoma City, OK
7. Punta Gorda, FL
8. Canton, OH
9. Honolulu, HI
10. Denver, CO
Tom and Bev Herring – Your real estate resource for Tulsa, OK and surrounding communities.
Preparation Steps for a Home Inspection
A crucial step to selling your home is to have it inspected by a professional home inspector before you place it on the market. By having your home inspected first, you will know if there are any major or minor details that need to be addressed. This will also help you get the maximum for your home. Therefore, we have some steps that will help you prepare for a home inspection.
Hiring an inspector – There are some companies who will do a free pre-listing inspection in hopes that you will hire them to do any needed repairs. However, you can invest money and hire a professional home inspector. Either way, you will be notified of any problems your property may have. You can then get all your repairs done and sell your home quickly.
During the inspection – Because many home inspectors can be very critical of a home, you may want to leave while the inspector is there. Criticism can set you on the defense; however, when it comes to the reality of your home, you need to be on the offense.
Availability – If you do decide to be away during the home inspection, you will need to make sure the inspector will have access to your homes functioning units like the furnace, water heater, circuit breaker, appliances and more. In many cases, this will help you get a good inspection report.
Get down to business – Once you know if or what repairs need to be done, don’t procrastinate. Get down to business as soon as possible. The longer you wait on repairs, the longer your home will be on the market.
Tom and Bev Herring – Your real estate resource for Tulsa, OK and surrounding communities.
How Distressed Homeowners Can Start Fresh
More and more distressed homeowners can start fresh as banks try to keep foreclosures off the market. It’s called artificially driving demand but it works, and now many sellers can rest assured that they will get a good price for their home. Therefore, we have some tips on how distressed homeowners can start fresh too.
How distressed homeowners can start with a fresh slate:
Sell and get out – For homeowners who have saved and scrimped to get through the recession, the current market may present a better opportunity. You can sell or short sale your property to get out of your rut. And, now that the economy is beginning to turn around, you may not be as upside down on your mortgage as you once were. Banks are moving short sales quickly and efficiently now. The income tax exemption on debt forgiveness on short sales will also be valid through the end of the year.
Settle old scores – If you had to foreclose on your home that had a second mortgage, you could still owe a lingering debt. However, many second mortgage holders are not actively collecting debts, but that debt will stay on your credit score until paid. Therefore, you should contact the servicer of your second mortgage and see if they will settle with a lower payment. Be sure to check your credit score once you pay off the debit to make sure it is no longer showing up as delinquent.
Dispute expired derogatories – If you foreclosed on your property in 2005 or 2006, your credit report will need to be checked to make sure the expired debt has been removed. If the seven year time frame has run out and the debt is still on your credit, you can have it disputed to have it removed.
Lock in low rates with refinance – Many homeowners lost the value of their homes during the recession and if you were one of them you can refinance your home to take advantage of the lower rates. Now is a great time to save on your monthly payment.
Tom and Bev Herring – Your real estate resource for Tulsa, OK and surrounding communities.
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Contact Information
Tom & Bev Herring Bev, GRI, CRS
Tom, Broker Associate, ePro
Tulsa, OK 74133
Business: (918) 712-4405
Fax: (918) 712-4333
