Midtown Tulsa Real Estate - Lori Cain: December 2011

My year (and special moments) in Tulsa real estate 2011

My encounter with Shelley Cadamy should have prepared me for my memorable year in real estate. Shelley was relocating from OKC to Tulsa with three children, was starting a new job and planning a wedding - obviously she multi-tasks well. Shelley wanted to see one particular Tulsa home for sale, but I had no idea she was hell-bent to drive to Tulsa to see it in the snow - a LOT of snow!! In addition to viewing her beautiful home, we met her lovely neighbors who helped dig her car out of the snow after we had dug her fiancé's car out. Shelley literally married Rick Munoz one week after closing AND then started her new job. I'm delighted that she and her family are in Tulsa!

Tom and Misty and I almost bought the wrong house. We all fell in love with one midtown Tulsa home for sale that had multiple offers - and we lost out. Determined to succeed, we hit the ground the next day ready to shop - and found something we all loved so much more. (Lesson learned about "the one that got away.") Also lesson learned about checking out flood history. They're now neighbors, close to Brookside and the bike trails, and we're happy to have them nearby.

Next comes Kathy and Steve who sold their home in Southern Pointe to settle into a home they inherited in midtown Tulsa. Before the year ended, they purchased another home in Southern Pointe, and we'll put their midtown Tulsa home for sale on the market at the beginning of 2012. Kathy & Steve are wonderful clients and friends. They are believers in home staging, and you'll be seeing photos soon of their midtown Tulsa home for sale.

Then I met Linda and Ron through Anna - they were returning to Tulsa and bought a condo two blocks away from me and Deme. This condo embraced the hottest designer trends of the 1970s, and it only took Linda a few months to renovate it to a contemporary and comfortable home. Demetrius and I went to their house-warming party - what a marvelous transformation! We're delighted to have Linda and Ron as neighbors and friends - fun couple.

Later, Ron and Linda's daughter's family relocated to Tulsa, and we found Kristen, Andrew and family the perfect home too. Thankfully, "taste" seems hereditary in that family - along with patience and humor!

George sold his Mother's home after she moved in with his family. We never showed Mary her home after George updated it, but I'm certain that she would have approved. The first-time Buyer who purchased her home was likely as excited as she was when she and Pete first purchased it. The home will be well cared for, and I think we all feel good about that.

I was so excited to sell "the Garden Deva's" rental home. Sold in four days because it was a kick-ass, tricked out house. I had little to do with Lisa's success but blessed to be part of it. Of course, I turned around and spent my entire commission check at Garden Deva's studio, proving that the saying "what goes around comes around" is absolutely true.

Then I met Leor and Hillary. I'm always pleased to receive an Internet inquiry, but I had no idea that I would meet new FRIENDS this special. We ALSO almost bought the wrong house, but lost out in a multiple offer situation. A month+ later, we found a home that suited them so much better. They are just around the corner from us now and we are learning what great cooks they are. Their south Tulsa home is currently under contract and should close mid-January. So, wonderful friendship and happy ending!

My fav clients (and friends) Mike & Gabbi referred Gabbi's Mom, Meg, to me. I've never gone through such a whirl-wind shopping spree with an out-of-state Buyer, but we had a good time shopping together on the Internet. Meg bought a great home, and I can't wait to meet her. That woman is a pistol.

Pat introduced me to her mother - I had sold two homes in Florence Park for Pat. We sold her Mom, Emalee's home to a lovely family who desperately wanted the four bedrooms and school district. That was a smooth transaction where everyone left with a happy face. Come to think of it, Emalee turns 90 this month and I haven't received an invitation to her birthday party as promised - will have to check on that!

Brian & Misty were awesome clients. We had some challenges selling their Owasso home, but they quickly stepped up to the plate each time. Seriously, they were accommodating Sellers! Each time Lil or I provided feedback, they responded. You would be shocked if you saw how high Brian got on a ladder to paint. And, once we had their Owasso home under contract, we found an awesome Tulsa home purchase in Florence Park - darling bungalow with a pool - and they love it there! Welcome to midtown Tulsa, Brian and Misty!!!

Brent & Sandra were special 1st-time home buyers this year. I lost track of how many homes we viewed, but we finally found the perfect one. We were scheduled to close at a time to accommodate Sandra's doctor appointment, but she surprised us all by giving birth to a son in the early morning hours. Our closer wound up going to the hospital to close and get all signatures, as only one of us was allowed. So, he got a new house on the day he was born. Wonder what he'll want on his 16th birthday?

Stan was smart to move OUT of his 4,000 square foot home and purchase his down-sized property to ease the transition and best prepare his south Tulsa home for sale. Updating in progress and all is on schedule. Pics of his home for sale in The Crescent coming soon!

Roger and Peggy Jo win the prize for being the cutest couple of the year and wearing matching t-shirts. I think Roger celebrated his 79th birthday shortly before closing. We sold his home in Collinsville, and he purchased a home in Peggy Jo's neighborhood. They enjoy doing a lot of things together, so the drive from Collinsville no longer made sense. They were truly a joy and inspiration to be around.

Tyler & Samantha were also first-time home buyers and were able to take advantage of Rural Development financing to purchase Roger's home in Collinsville. Tyler said it looked exactly like the home he grew up in. Multiple repairs were required by the RD Appraiser and in order to make it work, Tyler and Sam spent one weekend painting a barn and another weekend replacing fencing and windows. I was really proud to see them "get after it" to make this purchase possible. Now, I'm reminded that they owe me a margarita!

Anna reminds me a lot of Shelley, so it's fitting that we closed on her home purchase at the end of the year. Anna was hell-bent on getting a good deal on a fixer-upper, which she did. She's currently experiencing some plumbing woes, so I'm not moving this to the "success" column yet. What I love most about Anna is her optimism and vision - she sees possibilities where the rest of us see junk. As soon as she makes this house habitable for her family, we'll be selling her midtown garden oasis home - photos coming out early spring I suspect.

And, then there was Bernie.
I believe my life is complete now that I have known Bernie. We sold her beautiful four-square vintage home in Stonebreaker Heights, and it is perhaps one of the most amazing homes I've sold. Bernie restored this home with the love of a true artist and it was an honor to be in her midst.

I appreciate my friends who sent me referrals. Thank you Kari for referring David and Dot. Thank you Richard for referring Jeff. And I'm thankful for my internet inquiry from Randy and Denise - and we're thankful that Denise transferred to Tulsa to work at St. John's!

Each year in real estate brings a few more gray hairs and a few tears and smiles. I spent this morning struggling through some mold issues and possible moisture intrusion on a stucco veneer, so don't think that my job is all glamour, giggles and smiles. Plus, a client called last night at 10:30pm with sewer problems. I thought I would spend the day finishing holiday shopping, but spent the day on the phone with inspectors, repairman and vendors instead.

But my valuable job brings me and others much happiness and lasting friendships. I get to meet some of the most amazing people I otherwise would not encounter. 2011 was a great year for this Tulsa Realtor, and I appreciate each and every client that made it the special year that it turned out to be!!

Copyright 2011 Lori Cain All Rights Reserved - Originally Posted at: Midtown Tulsa Real Estate - Lori Cain

Reasons why Tulsa home Sellers should have their home inspected first

Tulsa home Sellers should have their home inspected before their home is put on the market for several reasons. Many repairs are not negotiable and will have to be made regardless of the Buyer's requests. You can't sell a home with termites unless you have a willing cash buyer. Period.

Inspection findings may scare your Buyer off after you are already under contract. Try to sell a house after "mold" is found. Had mold been found in the beginning and documentation of successful remediation provided to the Buyer, it would be a non-issue.

Remove doubts that you have structural or other major issues and provide your Buyer a level of comfort before they make an offer on your Tulsa home for sale. They will offer more if they believe that the home they love is in top-notch condition.

Give yourself plenty of time to make needed repairs at a more affordable cost. I recently had a closing delayed over two weeks while we scrambled to find contractors willing to excavate a crawl space. Because we didn't have time to locate a more qualified contractor, the Tulsa home Seller wound up spending more in cleaning after the fact and also incurred damage to valuable personal items in the home.

Oklahoma real estate contracts allow ten days for inspections (unless more is requested), which leaves the Tulsa home seller less than three weeks to get bids and complete repairs. And although the Seller may be WILLING to make all repairs, there is always the chance that the Buyer may think the list or type of faults are too overwhelming to proceed to closing.

Be prepared that the Buyer's inspector may find something that your inspector didn't - or that something will deteriorate between the time you inspect and repair and the Buyer conducts inspections. Again, generally, the repairs will have to be made regardless.

I think most Tulsa home Sellers want to pass on their home in good condition. Just as we encourage Tulsa home Sellers to update their home and present it in good cosmetic condition, don't overlook the advantages to knowing up front what repairs you'll need to address once you're under contract.

Funny that we only inspect our homes when we are transferring ownership. After a few recent inspections I've experienced, I'm thinking of having MY residence inspected. I won't have to fix anything if I don't want to, but I suppose I would like to know if I have structural problems or conditions conducive to termites.

So, if you are preparing your Tulsa home for sale, I encourage you to pre-inspect and make needed repairs. You can find qualified inspectors and vendorson my web site!

Copyright 2011 Lori Cain All Rights Reserved - Originally Posted at: Midtown Tulsa Real Estate - Lori Cain

This Oregon Realtor does an excellent job of outlining and explaining what questions Realtors can and can not answer. If you are shopping for a home and any of these areas are of concern to you, please ask your Realtor to provide resources so that you can investigate.

Vacant Tulsa Homes for Sale: Insurance & Vandalism

If your Tulsa home for sale is vacant, you need to be concerned about vandalism and reduced insurance coverage. All neighborhoods are susceptible to theft and vandalism, regardless of location.

A Realtor showing a vacant Tulsa home for sale I had listed last year reported that the air conditioning was not operational. The Seller went by the property to investigate and discovered that the copper wiring from the air conditioning unit had been stolen. This was NOT covered by the Seller's insurance.

Another vacant Tulsa home for sale I had listed was flooded by a broken toilet. A Realtor showing the property called to report that there was an inch of water in the first floor - caused by an overflowing toilet on the second floor. Thankfully this was caught after the water had been flowing a short time, and although the damage caused was significant, it could have been much worse.

The Sellers of the flooded home purchased a home in midtown Tulsa, then put their home in south Tulsa on the market. They notified their insurance provider when they purchased the second property and were not aware that the insurance company had lowered the coverage on their vacant property.

If you have a vacant Tulsa home for sale, please make sure your insurance provider puts the maximum amount of coverage allowable on your property. The Sellers of the flooded home had to put in quite a bit out of pocket to restore their home before putting it back on the market and were fortunate that they had the funds available to do so.

Just as homeowners leaving their home empty for a vacation, owners of vacant Tulsa homes for sale should solicit neighbors and friends to drop by the house on a regular basis. Park in the driveway, turn on different lights each time, pick up mail or phone books that are dropped on the porch entry. The "for sale" sign in the yard is a necessity, but it's possible to make the house appear "occupied" with a little diligence. And if someone were walking through the house turning lights off/on, a running toilet may have been discovered and ensuing flood avoided.

Realtors showing vacant Tulsa homes for sale are very good about notifying the Listing Realtor if they suspect damage or anything out of the ordinary. However, if the home is not being shown on a daily basis, it needs to be checked by neighbors. Perhaps there's a responsible teenager in the neighborhood that would check the house for a little extra spending money.

If your Tulsa home for sale is vacant, do take precautionary steps and discuss your insurance coverage with your provider!

Copyright 2011 Lori Cain All Rights Reserved - Originally Posted at: Midtown Tulsa Real Estate - Lori Cain

What to consider when negotiating an offer on your Tulsa home for sale

Recently my Sellers received an offer on their Tulsa home for sale. The offer was $25,000 less than their list price, and their home had been on the market for four months.

They did take their Tulsa home for sale off the market for a month to renovate: new wood flooring, new carpet and new - more neutral - interior paint. And they made the investment to have their Tulsa home for sale professionally staged.

According to the absorption rate in their subdivision, there is a one-year supply currently listed for sale. That's a high inventory with a limited pool of qualified Buyers.

Although they had made multiple improvements to their home, the fact still remains that there are nine other properties for sale in their subdivision with an average of one property selling per month. What IS that "bird in the hand" really worth?

It's worth the end of mortgage payments, utility payments and lawn maintenance - and throw in some peace of mind.

The next offer may be better, but it could be worse. There is no way for me to predict that - all I can advise is that if we negotiate this offer to something we can live with, we're done.

So, we offered a "gentleman's counter," which is simply splitting the difference of the amount listed and amount offered. It's possible that we could have countered at a higher amount, but each time a Seller counters, you open an opportunity for the Buyer to move on to another property.

While we're negotiating, did another property the Buyers were considering reduce its price to be in their desired price range? Did they continue to shop and find another Tulsa home for sale that they like as much?

It is an emotional experience negotiating your Tulsa home for sale. Try to remove the importance placed on the sales price and look at the big picture. There are nine other Sellers in your subdivision wishing THEY had been the one picked.

That bird in the hand is worth more than you think, and your first offer is usually your best offer. I'm very fortunate to have Tulsa home Sellers able to see that big picture!

Copyright 2011 Lori Cain All Rights Reserved - Originally Posted at: Midtown Tulsa Real Estate - Lori Cain

There's no better source for home improvement tips than from the inspectors who critique our homes. This Minneapolis home inspector has some very helpful information about insulating your home. Read on, as the temperature is dropping!

The Tulsa Grid - Easy Directions to find your way around in Tulsa

Sure most of us have a GPS, but understanding Tulsa's grid will better help you find your way around in Tulsa.

System of numbering:
Main Street is the dividing line for east and west. Admiral Boulevard is the dividing line for north and south. Numbered streets run east and west beginning one block south of Admiral.

Numbered streets, such as 11th Street, 21st Street, 31st Street, and so on, are one mile apart. The one exception is 15th Street, also known as "Cherry Street," which is, of course between 11th and 21st Streets.

Named streets from west to east are: Riverside, Peoria, Lewis, Harvard, Yale, Sheridan, Memorial, Mingo and Garnett. These are also one mile apart. The exception to this is Utica Avenue which is halfway between Peoria and Lewis. Each street (or avenue) is assigned a numeric value. Peoria is the 1300 block and Lewis is the 2400 block. So if the address you seek is 2200 East 18th Street, it will be west of Lewis and north of 21st.

Riverside Drive: 900 block west
Main Street: dividing line for streets running east and west
Peoria Avenue: 1300 block east
Utica Avenue: 1700 block east
Lewis Avenue: 2400 block east
Harvard Avenue: 3300 block east
Yale Avenue: 4900 block east
Sheridan Road: 6500 block east
Memorial Drive: 8100 block east
Mingo Road: 9700 block east
Garnett Road: 11300 block east

If you don't have a compass, remember this silly saying, "the WIVER is west." Of course I'm referring to the Arkansas RIVER! If you can figure out where you are in relation to the river, this will help you get your bearings.

Downtown Tulsa is a similar grid but different named streets. I'll save that for a separate blog post so that I don't confuse you!

If you are relocating to Tulsa, we welcome you and hope this will help you to find Tulsa a little easier to navigate! Our expressways also make Tulsa travel easy, but stick to the side streets until you know your way around!

Copyright 2011 Lori Cain All Rights Reserved - Originally Posted at: Midtown Tulsa Real Estate - Lori Cain

Sad week for bloggers in the real estate world

Most of you who know me well know that I love to blog and tweet, and it's been a really sad week for social media junkies in the real estate profession.

Active Rain staffer Kerrie Greenhalgh posted three days ago that Irene Kennedy, a NJ Realtor, died after her battle with cancer. Irene started blogging about the same time I did and gained readership quickly due to her enthusiasm and humor. I will always remember a comment she made on one of my first featured posts about the naming of my Facebook page and a bottle of Merlot Merot (you had to be there).

Today I found out that Clint Miller from Missoula, MT, died yesterday after his battle with cancer. Although Clint also blogged on ActiveRain, I saw more of him on Twitter - @therealclint. When my Twitter account was hacked a few years ago and I decided to start a new one, he helped me get the word out to regain shared followers.

It's funny how we develop relationships among bloggers and those who tweet. I dearly love several bloggers whom I've never met. One particular blogger in Barington Illinois and I have developed a friendship, and I can't imagine my life without her!

Another blogger (and my first AR subscriber) is TLW (The Lovely Wife) who is battling cancer and she was close to both Irene and Clint. What a horrible week this has been for her to see them both go.

When we blog, we give a lot of ourselves and are very transparent. It's easy to get to know each other and "connect" on so many different levels. Although I've never met any person I've mentioned in this post, I know or knew them all on some level. And I will miss both Irene and Clint.

As always, when a friend dies, it seems a natural reaction to assess your relationships - with self, with family, with God. I can't remember if I told my husband today that I love him, yet I love him more than anyone in the world. I know I kissed my pups several times today, but did I kiss them more than I scolded? Did I write more than "happy holidays" in the last Christmas card that I sent to a friend?

Death is part of life and I get that. I wish we would get MAD enough about our friends dying of cancer to DEMAND that our government do something to find CURES. You know that the pharmacutical lobbyists would rather that we didn't. FUND the scientists and researchers! NOW! If there's not enough social security for all of us, we'll figure that problem out later!!

Goodnight Irene, and goodbye Clint. My life is richer to have known you both.

Copyright 2011 Lori Cain All Rights Reserved - Originally Posted at: Midtown Tulsa Real Estate - Lori Cain