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1508 Apollo in Edmond, a Video Tour

Earlier I shared a bit about my newest listing over in Kelly Park at 1508 Apollo in Edmond.  Are you ready for a bit more information?  How about a quick video tour?  Well here you go;

1508 Apollo in Kelly Park Edmond, OK

1508 Apollo

1508 Apollo in Kelly Park is now available!  Nestled on a quiet street in Edmond, this four bedroom 1621 square foot home won't last long!

Kelly Park is located in central Edmond off Kelly Avenue between 2nd and 15th streets.  Kiddos in the neighborhood attend Sunset Elementary, Central Middle School, and Santa Fe High School.  Grocery shopping can be done conveniently at Crest Foods which is about a mile away.  There are also daycare and fitness centers nearby.

Stay a while!

But enough about the neighborhood!  Let me tell you what I LOVE about this Edmond home.  It starts outside.  The house is on a dead end street with plenty of trees.  There is a great front patio that I would use all the time to hang out after work and visit with the neighbors or to have a cup of coffee in the morning while waiting for the bus.  I can see that being a popular place!

I LOVE the crisp white woodwork against the brick fireplace!

Let's go inside.  I think you will agree that the home has a fabulous cottage feel.  When the flooring was replaced, they chose to use tile in all public areas (the carpet in the bedrooms is new).  The tile they used doesn't look like tile.  It has a wood grain and light driftwood finish so it looks like weathered wood.  Since they used it throughout, the space looks so much bigger.  They even widened the pass through between the kitchen and living area to give a real open feel to the home.

Looking for a 4 bedroom home in Edmond under $130,000?  Then you must call me today to schedule a time to tour 1508 Apollo in person.  I can't wait to hear what you LOVE about this Edmond home!  Call me at the CENTURY 21 Goodyear Green office, 405-359-7400 and ask for Kristyn.

Make Your Payment Until Closing, Duh!!

While it may seem obvious to most folks selling their Oklahoma home;  mortgage payments must be made until closing. Unfortunately, not all sellers see this as a necessary obligation.  So, here is the letter I now realize I should have written several weeks ago!


Dear Seller,

I am so happy to hear that you have accepted a contract on your house.  Congratulations, there is a SOLD sign in your yard!

I know that you moved away from Oklahoma some time ago and that maintaining this house has been an inconvenience for you.  Not to worry, you will only have expenses associated with this property for another month or two. 

Remember, even though I posted a SOLD sign, it's not really SOLD until we go to the closing table.  You will need to continue to make your mortgage payments on time (just like you have during the entire listing period) until then.  I know you're a responsible person and that while having two houses in two states has been a pain in the neck and sometimes even a stretch for you.  You do have the ability to pay.  So, even mentioning this to you is probably silly.

It would be quite embarrassing for all concerned to learn on the day of closing that foreclosure proceedings have been started because you have not made a payment since the house was listed.  If that happens you might not get to sell the house.  That would never happen to you, right? 

Sincerely,
Your REALTOR

My Stomping Grounds - Danforth and Santa Fe in Edmond

I love a convenient lifestyle.  Being able to walk to the store for a gallon of milk or biking to meet a friend for coffee suits me to a tee.  That lifestyle can be found in Edmond, OK near the intersection of Danforth and Santa Fe.  That's my stomping grounds.  Just about everything I could need can be found a stone's throw from that intersection.  Let me give you a walking tour;

Let's start on the southeast corner.  That's where you will find one of Edmond's two Walmart Supercenters.  This location has an auto department and a gas station.  Of course all the usual groceries and household items are there too.  Next to Walmart is a small strip center that includes Payless Shoes, At the Beach Tanning, Game Stop, and opening soon Sally's Beauty Supply.  There is even a UPS Store.

If we cross the street to the northeast corner of the intersection, we will find Kohl's Department Store and Dollar Store.  Sharing the corner is Kirkpatrick Bank and AT&T.  Heading just a bit further north, you can find a Mercy Health Center.

From Kohl's we can cross Santa Fe and head west to Homestead Center where you can find CVS, Eileen's Cookies (so very good!), and the popular Buffalo Wild Wings.  Luckily there is also an Anytime Fitness, which you might need after feasting on wings, beer, and cookies for dessert!  Just sayin'...

All of these fabulous amenities and more including, dental and medical care, insurance agents, and places of worship are all walking distance from four very affordable neighborhoods; Park Lane Estates, Pebble Creek, The Trails, and Homestead.

Imagine the convenience of living near this dynamic intersection.  You could easily walk over to Allaus for a coffee with a friend before your workout at Anytime Fitness.  When your done there, you can head over to the bank to make a deposit, pick up milk and eggs at Walmart then to AT&T to pay your bill.  Hey, you better plan to stop by Kohl's for a new pair of walking shoes on your way home!  This convenient lifestyle looks good on you!

Want to keep up to date on the latest listings in Park Lane Estates, Pebble Creek, Homestead or the Trails?  It's super easy!  Just email me, Kristyn Grewell, at kristyn.grewell@century21.com with the name of the addition that interests you in the subject line.  After that, I'll send you weekly hassle free updates via email!

Pebble Creek Edmond, OK Market Statistics

Pebble Creek is an established neighborhood in NW Edmond, Oklahoma with most homes built between 1984 and 1994.  It can be found near Danforth and Santa Fe.  The majority of homes in the neighborhood have three bedrooms, two bathrooms and are under 2000 square feet.  However, some four bedroom homes with more than 2000 square feet do exist.

There is an active homeowners association in Pebble Creek.  Currently the annual dues are $158.00.  Neighborhood amenities include a pool and park.  HOA 2010 Newsletter

Shopping is available nearby at Walmart Supercenter and Kohl's.  Public transportation is also available with a bus stop on Danforth in front of Walmart.

Kiddos attend school at John Ross Elementary, Cheyenne Middle School and Edmond North High School.

This neighborhood remains stable and a popular choice for first time buyers.  So far this year (1/1/10-7/14/10) eleven homes have been listed in Pebble Creek.  Of those just four are currently available, two are under contract, and seven have already sold and closed with an average of just eighteen days on the market!  The average sold price has been $133,057.

During the same time period in 2009, there had been thirteen homes listed with nine sold by mid-July.  Last year the average days on market was 42 days with an average sold price of $140,694.

Would you like to receive a hassle free monthly update of activity in Pebble Creek?  Send an email to Kristyn Grewell of CENTURY 21 Goodyear Green with PEBBLE CREEK MARKET UPDATE in the subject line.

I Had a Bankruptcy. Can I Buy a House?

Yesterday the Associated Press published a story with some ugly statistics.  It seems that 25% of Americans have a credit score that is below 599 which will make it very difficult for them to get credit cards, auto loans or purchase homes.  You can read the entire story here.

Sadly, along with low credit scores many folks have also faced Chapter 13, foreclosures and short sales on their homes.  Even if they rebuild their credit score over time, these events will have a lasting impact on their ability to purchase a home in the future.  But for how long?

In the event of a Chapter 13 bankruptcy, prospective buyers must be in a repayment plan for at least one year to obtain either VA or FHA financing.  The following documentation must be provided; copy of repayment plan, complete bankruptcy documents, pay history from court, permission from the court.

In the event of a foreclosure, a prospective buyer must wait a minimum of 3 years to obtain either VA or FHA finanicng and 5 years for conventional financing.

In the event of a short sale, both VA and FHA financing is avaialble on a case by case basis.  However, prospective buyers should be aware that short sales will now be listed on credit reports which will have a significant impact on their ability to purchase a home.

Cool Your Jets Mimi!

You found it!  Your dream home in Edmond has been found!  Closing has been scheduled for August and your brain in just swimming with decorating ideas!  Does this sound at all familiar?

"Should I change the flooring?  What color will I paint the bedrooms?  Should I have custom drapes made or go with blinds?  On HGTV they said the color of the season was turquoise, I don't really like turquoise but should I paint an accent wall that color anyway?  Oh my gosh!  Did the REALTOR say that the seller was taking the frig?  That means I'll have to buy a new one.  Maybe I'll get a stainless steel side by side.  But if I go stainless, I'll have to replace the stove too because that was white.  If I change the floors then my couch won't look too hot maybe I should go over to Mathis Brothers..."

Buying and decorating a new home can be so much fun!  I promise you, if we were making a move many of the thoughts listed above would be going through my mind at break neck speed!  My favorite part of buying a house is making it my own.  My problem is, I would want it all done right away.  How about you?

Unfortunately, the way the mortgage process works, you have to wait.  It's so tempting to get out and make all your large purchases (new furniture and appliances) and plans now so that everything can be in place once you close.  But as my mother in law would say, "Cool your jets Mimi!!"  You see, you loan application can be denied at anytime between now and closing if your liabilities change from what you listed on your loan application.  Even on the day of closing!!

So, to protect yourself (and your dreams) DO NOT do any of the following;

• DO NOT take out any new loans
• DO NOT open any new credit card accounts
• DO NOT transfer any credit card balances
• DO NOT increase the amount you owe on any credit card
• DO NOT make any late payments on any credit obligation
• DO NOT payoff or make a substantial payment on any loan or credit card without first discussing it with your loan officer

Once you have closed on the house, all documents are signed, and keys are in your hand then you can set about making the space your own!  Have fun!  And if you need help deciding whether or not to paint that accent wall turquoise or not, give me a call at the CENTURY 21 Goodyear Green office 405-359-7400.  I can put you in contact with interior designers in Edmond, OK that will help you make the right choice. 

By the way, take lots of before and after pictures!

Edmond Oklahoma Among Top Places to Live!

It seems that the experts all agree!  Last week I shared that Edmond, OK was on Family Circle's list of top towns.  Well, today the good news just keeps coming!  Money Magazine has listed their Top Places to Live and Edmond has made the cut again!  Edmond, OK is listed at number 35!

What makes Edmond, Oklahoma so great?  Here are just a few things that come to my mind; walking trails, parks, Arcadia Lake, shopping downtown, public art and the Festival Market Place.  Our great schools at every level including UCO,  OC, OCS, and of course Edmond Public Schools. Annual events like Dickens Christmas, Libertyfest and Summerstock.  We can't forget sports like Edmond Soccer, Edmond Lacrosse, and cheering on high school football every weekend at Wantland Stadium!

Are you making a move to Edmond, Oklahoma?  I would love the opportunity to give you a tour and point out all the great things that get Edmond, Oklahoma all this recognition as a Great Place to Live!!  Just give me a call at the CENTURY 21 Goodyear Green office, 405-359-7400.  Ask for me, Kristyn Grewell!  We'll plan a day for your Insider's Tour!

A Home Equity Loan the Story Continues

Yesterday, I introduced you to James and Linda.  They were listing their home for sale and were suprised to learn that they would be responsible for paying off their home equity loan at closing.  Selling their house at the recommended list price would leave them bringing over $30,000 to the closing table.

James suggested a solution that many other homeowners in his shoes consider.  Let me tell you about it:

Faced with the daunting numbers James had a plan.  Rather than listing the house at the recommended list price of $255,000 and bringing cash to closing, they would simply list higher to make up the difference.  James pointed out that his house had many features that other homes in the addition did not have like granite countertops, and crown moulding (it was after all the builder's model home).  They had also added a shed out back!  James said, "Let's list at $280,000.  I'm not taking less than I owe on this house!"

Whoa!  Slow down there James!  Let's review.  You owe just $233,000 on the house.  Selling for $255,000 is NOT selling for less than you owe.  It is NOT taking a loss on the house.  It is NOT selling the house for less than it's worth.

The additional $33,000 is your consumer debt that you elected to attach to your house by way of a home equity loan without having the equity to cover the debt!

Recommended price ranges are provided to sellers based on market value of the house not the net goal for the seller.  Keep in mind even if a REALTOR can find a buyer willing to pay your inflated list price, the buyer will typically have the house appraised.  In order for the buyer to obtain financing, the house must appraise for at least the purchase price.  Appraisers will use the Fannie Mae guidelines when making their assement of the property.  Fannie Mae defines market value as;

the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.

A Home Equity Loan is a Lien on Your House

Debt.  Most of us have it.  Most of us want to get rid of it!

It is estimated that the average American has $3752 in credit card debt.  The average household has an average of $7394.  That is just credit cards.  It does not include car loans, student loans, or mortgages.  While statistics say that amount is a decline from 2009, it is still a significant number.  You can read more about the report here.

Sometimes folks feel so overwhelmed by the amount of their debt, they opt for a home equity loan to consolidate all that debt.  They then have just one payment and probably a lower interest rate too. It can be a good solution, especially if you have lived in your house for several years or plan on staying awhile.

But, what if you have to move?  That home equity loan is a second mortgage on your home.  It is a lien that must be paid off at closing.

Case Study:  James and Linda have lived in a home for two years.  They bought the house for $250,000 and mortgaged $240,000.  In January of this year, they made a resolution to get a handle on their finances.  They decided to get a home equity loan and pay off all their credit cards, Linda's student loan and James' car.  The home equity loan was for $35,000 but that payment was lower than all the others combined.  They would be saving money each month.

On Monday, James learned that he is being transferred!  It is an opportunity of a lifetime!  James and Linda are so excited about their upcoming adventure.  They contact an Edmond REALTOR to get the house listed right away.  The REALTOR schedules a time to go over the listing documents and recommends they have their mortgage payoff information available at the meeting.  Not a problem!

At the listing appointment they learn that the probable sale price for their house is $255,000.  This is not a suprise to them.  They tell the REALTOR that the payoff is about $233,000 and they hope to just break even.  As they are going over the estimated closing costs, they are asked if they have a second mortgage.  James explains that they have a home equity loan.  They are stunned to realize that loan has to be paid off at closing too!  That means that if they sell the house for $255,000, after closing costs are paid they will have to bring $31,000 to closing!!

When considering a home equity loan to consolidate your debt, first consider how long you are planning to live in your home.  Do you have the equity to cover that debt if you sell?  If you plan to move or the equity is just not there yet, this may not be the best option for you and your family.

Ready for Some Football?

In Oklahoma, football is a religious experience.  Folks around here are pretty passionate about the game.  And high school football is no exception.  This weekend the 7 on 7 Oklahoma Showdown is in Edmond at Edmond North High School.  The tournament draws high school teams from all around the metro.

If you are ready for some football, then be sure to head over today to cheer on your favorite team.  The final games of the tournament kicks off tonight at 7:00. We'll be cheering for all the Edmond Schools, but in a head to head match you'll hear the Grewell gang yell, "Go Huskies!"

By the way, while you are there, stop by the CENTURY 21 Goodyear Green tent and say hello!

Zip Code 73003 Market Snapshot

Zip code 73003 in Edmond, Oklahoma Real Estate Market Snapshot

In west-central Edmond, zip code 73003 covers about 53 square miles and there are over 12,000 households in the area.  Just a few of the neighborhoods that can be found in the area are; Bradford Park, Copper Creek, Fenwick, Homestead, Pebble Creek, Coffee Creek and Park Lane Estates.

A picture says a million words.  So here is a snapshot of what is happening Edmond real estate in the zip code 73003;

During June 2010 there were 77 new listings with an average list price of $215,577.  Of those, 11 are already under contract after an average of just 13 days on the market.  This is an increase over May 2010 where we only saw 47 new listings in the zip code.  Of those listed in May 6 are now pending after an average 25 days on the market and 9 have already closed.  Of the closed transactions the average list price was $132,013.

How does that compare to what was happening last year?  Well, in 2009 there were 65 73003 zip code properties listed in June.  Of those 44 ultimately closed and 20 listings eventually expired.  One property is under contract and has been since November.

Searching for an Edmond home?  Complete this quick online form to receive hassle free, email notifications of new listings in zip code 73003.

Thanks for Noticing!

Edmond, Oklahoma was recognized by Family Circle Magazine as one of their 10 Best Towns For Families!  You can read the entire article here.

Edmond is a great place to live. As a Realtor with CENTURY 21 Goodyear Green, I have the opportunity to meet people who are moving to Edmond from all over the country. They are always impressed with the combination of available ammenities and small town charm here in Edmond. It's a joy for me to give them a tour and tell them all about the area! I can't imagine living anywhere else. Thanks for noticing us Family Circle!!

June 2010 Market Analysis Park Lane Estates Edmond, OK

June 2010 was an active month for real estate in Edmond, Oklahoma's Park Lane Estates.

During the month of June, six homes were listed, 1 home went under contract, and 3 sales closed.

Of the 6 new listings the average sales price is $156,850.  The pending sale was listed for $159,900 and had been on the market for 85 days.  Of the 3 that sold, the average sold price was $142,667 and had been on the market for just 42 days.

If you are not familiar with Park Lane Estates, it's located in Edmond, Oklahoma near Danforth and Santa Fe.  The neighborhood kiddos attend the following Edmond Public Schools; Ida Freeman Elementary, Central Middle School, and Edmond North High School

Need to sell your Park Lane Estates house?  Call me today at the CENTURY 21 Goodyear Green office 405-359-7400, ask for Kristyn Grewell.

Moving is Stressful for Fido Too!

How to Make Your Move Easier on Your Pet


I am a pet lover!  Cannot imagine life without my dogs.  I have two; Bellah a Shih-tzu and Olive a Bulldog (that's her reading my blog).  We spoil these dogs like you would not believe!  They have a pretty good life.  But any change would really stress them out.  If we were to move, we would have to take some extra steps to make it easier on them.


A few tips the experts recommend are;


•Don’t rush. Take your time packing and getting ready. Try to avoid the last-minute panic that often accompanies a move. Your animals sense your own stress, so stay calm.

•Avoid change. Keep your pet on its regular feeding and walking schedule for as long as possible.

•Create a safe place. If your dog or cat will need to be in a carrier, get him used to it beforehand. And if using a carrier on the road, make frequent stops to give pets potty and exercise breaks.

•Get pets familiar with their new location. If you’re not moving far, introduce dogs and cats to their new location before the move. You can even take your dog for a walk around his new neighborhood so he can get used to the scents.

•Check with your veterinarian. For some pets, a mild sedative might be necessary to ease the stress of travel.
 

If you are new to Edmond, Oklahoma and need recommendations for a vet, groomer, or pet sitting, send me a message at kristyn.grewell@century21.com and I will let you know where I take Bellah and Olive!
 
By the way, that's Bellah!

4th of July in Oklahoma

Happy 4th of July Oklahoma!!


What are your plans for the 4th of July weekend in Edmond or Oklahoma City?  There are so many fun things to choose from like Libertyfest in Edmond or Red White and Boom in Bricktown!  Here's a short video from Wendy at Wimgo letting you know where all the hot places will be!  Check it out: