Friday, October 17, 2008
Thursday, October 9, 2008
If you would like to discuss using some of your retirement account to buy rentals contact our office at ERA Stillwater! We have a trust company that we work with to meet the IRS requirements of a IRA or 401k, we can locate the property and we can manage it for you too! Give us a call today!
Tuesday, October 7, 2008
It seems every day someone asks me about how the Stillwater market is doing and how the economy is effecting the market. These are complex times that we live in and I'll answer the questions for you to the best of my ability. As of August 31, 2008 we have sold 629 houses to last year's 626, so a very very slight increase in sales. The median home sale price is up $2,750 to $135,000 while the average home sale price is up $7,012 to $153,438. The average home price being higher than the median home price indicates that there are some very high priced homes that have sold which have lifted the average sales price higher. That's the good news. Now for the bad news, August 08 versus August 07 shows a significant decrease in the number of homes sold. Typically we don't like to look at a short term indicator like a month versus month, but the numbers were off so drastically that there might be a need to keep a close eye on this market.
Will the economic bailout help our real estate market? Will the stock market's rapid decline hurt our market? The answer to these questions will be revealed in my next post, but here is a preview: Hmmmm, my 401k lost a lot of value Monday, but my rental properties kept paying that same old rent which is giving me a 12% return on my investment.........
Tuesday, September 2, 2008
Thursday, August 21, 2008
Wednesday, August 13, 2008
What a fantastic home! This roomy three bedroom home is located just a couple of short blocks from the Boomer Lake walking trail and picnic areas. Updates galore and priced to sell at $149,000. 2623 N. Monroe is this week's buy of the week. For more information and more photos click on this link: 2623 N. Monroe
Monday, August 11, 2008
Stillwater, OK--Students from OSU's Radiation Physics Laboratory built and successfully launched a cosmic radiation detector this summer that reached the edge of outer space. Carried by a helium-filled balloon 12 inches in diameter, the detector flew for more than two hours and reached 104,000 feet in altitude. The device recorded radiation levels at the varying altitudes - information that will be used by NASA to develop instrumentation for space flight.
"This is really amazing," said Carl Johnson, a physics graduate student who designed andconstructed the device. "Our detector actually flew to the edge of outer space and then back to ground, and the whole time it workedperfectly."
take off The high-altitude balloon carrying a radiation detector, high-resolution camera, sensors for temperature, pressure and humidity, and a GPS launches from OSU in Stillwater.
In addition to the radiation sensor, the balloon carried a high-resolution camera, sensors for temperature, pressure and humidity, and a GPS module to determine altitude and geographic position. The balloon and instrumentation launched from the Stillwater campus and landed about 10 miles away in Perry. OSU engineering graduate and undergraduate students Joe Conner, Xander Buck and Ryan Paul conducted the launch.
Funded through a NASA EPSCoR grant, this project was overseen by Drs. Eric Benton and Eduardo Yuihara of the OSU physics department and Dr. Andy Arena of OSU department of mechanical and aerospace engineering. Art Lucas of Lucas Newman Science and Technologies also assisted on the design and development of the radiation detector.
Benton said the purpose of the grant is two-fold.
"The purpose of the grant is not only to develop instrumentation for use in space flight but also to promote student interest in science and engineering through experiments with high-altitude balloons," he said. "The best part about the project is that the detector was built from everyday materials and launched into near space from right here in our own backyard. This proves you can accomplish really amazing things with simple materials."
The detector serves as a prototype for radiation detectors that will be included in the Near Space Standard Science Platform, a program used by science students at high schools and colleges around the country conducting research on high-altitude balloons.
Saturday, August 9, 2008
Now, let's think about coupling that with the City of Stillwater's $5000 Homebuyer's Assistance program and you are talking about some serious cash.
The $7500 first time home buyers credit is a tax credit and is refundable which means that the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Typically this involves the government sending the taxpayer a check for a portion or even all of the amount of the refundable tax credit. This tax credit is considered a loan and will have to be paid back. Yes, the tax credit must be repaid. Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. For example, a home buyer claiming a $7,500 credit would repay the credit at $500 per year. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit amount would be due from the profit on the home sale. If there was insufficient profit, then the remaining credit payback would be forgiven.
The city of Stillwater's $5000 assistance program is a loan program that provides a $5000 loan for qualifying applicants that is paid back if the home is sold within 5 years. The loan is forgivable, meaning you don't have to pay it back if you hold the home more than 5 years and is prorated for the 5 year holding period. So if you sold the house in year 4 you would only be required to pay back 20% to release the mortgage.
For more information on the Federal $7500 first time homebuyers tax credit go to:
For more information about the City of Stillwater Homebuyer Assistance program go to:
Wednesday, July 23, 2008
We pause and give thanks for the troops that are stationed here and abroad that make it possible for us to celebrate our independance day in the United States. A big salute to the 45th Brigade Combat Team that are enduring the heat of Camp Bucca, Iraq and Baghdad, Iraq this summer!
Saturday, June 21, 2008
As far as objecting to your kids transferring, a school is a reflection of the families that use it. So if parental involvement continues as it did at Sangre Ridge, then Westwood will be just as strong and just as active as Sangre. So stay involved and get ready, because I think a bond issue will be coming down the line that will be building a new elementary school further west.
And now for the official press release:
On Thursday, June 19, the SPS School Board approved the new attendance boundaries for our elementary schools. This will go into effect when school resumes in August.
If you have a question about redistricting that has not been answered, you may contact the district via email at email@example.com
|Information Related to Attendance Boundary Change|
Wednesday, June 18, 2008
Wednesday, June 11, 2008
Buyer: Why would I go to an auction to buy property? If the property is one that is only be offered through an auction and it's a property that you really would like to buy, then the auction might be the only way to buy it. Now if it's a true absolute auction and you're the only buyer there you might walk away with a steal! The beauty of auctions for buyers is the search for a deal. Just like buying from Ebay, you're looking to get a better deal than paying full price for something. Think about it. If you want to buy a golf club, you can go to a golf store and pay full asking price, but at auction, you might be the only person bidding and you might walk away with that golf club for pennies on the dollar! What should you be aware of when buying at an auction? Usually the auctioned property is as is where is, so your chance for inspections and financing contingencies have gone out the door. You have to be ready to buy and you will usually have 30 days to close on the property. Watch out for the DUMMY in the corner! ????? A Dummy Bidder (sometimes called a plant, a shill) is a bidder that has been placed in the crowd by the auctioneer to drive bids up. So you might be the only buyer at the auction but you can be tricked into bidding more for the property. So, should you buy at an auction? Sure! I've purchased properties at auctions and if you know what you're doing it can be an exciting venture where you can buy property for less than market value, but if you need experience on your side, you can always contact a REALTOR to act as a Single Party Broker on your behalf and assist you through the auction process.
Seller: Why would I sell my house at auction? Well maybe you HAVE to sell the property and it's an unusual piece of property that will attract more than one bidder. That is the key to being able to have a successful sale at an auction, you have to have more than ONE motivated buyer! Sure there will be 10 or 20 people at the auction, but most of them are looking for the steal. You have to have two buyers that are willing to pay at least full price or else you might end up taking a bath. Well, what about the fact that I will sell my property faster at an auction? Sorry, that's not a fact at all, it's a myth. In reality some properties will sell the same day that they are listed because salespeople keep a list of all of their prospects that want a property just like yours. So it is possible that you would have sold your property faster using a typical real estate company. How about the line that it won't cost me as much because the auction charges a 10% buyer's premium instead of charging me a listing fee. Hmmmm, let me see, I'm bidding on a piece of land that is worth $100,000, I guess my maximum bid will be $90,000 now that I'm paying a premium on top of my bid. That didn't take long to do the math now did it? How's that workin for you now? You just walked away with $90,000 less advertising and abstracting expenses. Sure you didn't have to pay a commission, OR DID YOU???????
Auctions are appropriate for some properties, but when you consider that the definition of market value as provided by the FDIC:
(g) Market value means 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 and 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 acting in what they consider their own best interests;
(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.
So was the property exposed for a reasonable time? One day is not reasonable, yet an auction is typically advertised for 30 days.
My opinion is that if you are considering auctioning off your property, first consider listing it on the open market for at least 30 to 90 days to see if you can get full price for it. If you are considering buying at an auction, first consider entering into an agreement to allow a real estate broker to represent YOUR interests at the auction.
Tuesday, June 10, 2008
September 1, 1966 - June 3, 2008
As I'm sure you know, Stillwater native son Army Major Scott Hagerty was killed in action in Afghanistan last Tuesday, June 3, when a roadside bomb exploded near his vehicle, killing Scott and 20-year-old Pfc Derek Holland of Wind Gap, PA.
Scott's parents Don and Shirley Hagerty are longtime Stillwater residents. Also living in Stillwater are Scott's wife Daphne and sons Jonathan (age 10) and Samuel (20 months), Samuel is named after a civilian contractor Scott worked with in Iraq who was later killed by an IED.
Scott graduated from Stillwater High School in 1984 and earned a bachelor's degree in 1993 in political science, pre-law, and international relations from Oklahoma State University.
Scott's funeral will be Friday, June 13, at 10:30 a.m. at the First United Methodist Church (corner of 7th and South Duck streets, Stillwater) with Strode Funeral Home in charge of local arrangements. Burial will immediately follow the funeral at Sunset Memorial Garden,
6500 South Perkins Road, Stillwater. Since Scott was killed in action, he will be accorded full military honors at his funeral and burial.
Hopefully, many individuals and groups in the Stillwater community and surrounding area
might like to be present on Friday morning to honor Scott and to offer thanks for his ultimate sacrifice for us. Here are some ways you and others can be a part of a support group to honor Scott:
1. Attend his funeral. The church sanctuary is large but if it is full when you arrive, there will be ushers and additional seating in the fellowship hall just south of the church, and the service will be transmitted live there on big screen TV.
2. Many officials and military personnel will attend the funeral. If you have an opportunity, let's honor Scott's service by thanking them for their service to our country.
3. Help us line the route from the church to the cemetery with individuals and groups of caring supporters.
4. Let Scott's family know that you appreciate the sacrifice Scott made for all of us. Several sites are provided such as the "condolences" link at http://www.strodefh.com/, - or search for Scott Hagerty on the Legacy.com link at http://www.stwnewspress.com/
If you can help line the route to the cemetery, the procession will travel east on 7th street to Main Street, and then south on Main Street to Sunset Memorial Garden. Just as folks do for the OSU Homecoming parade, it is OK to park and stand at any safe location. It will be hot, so bring your water bottle. Also, each person might bring an American flag of any size and/or a homemade sign of remembrance or thanks for Scott. If you know of folks who might like to participate as a group, let me know if possible so we can share this information with the Hagerty family. Let's show this grieving family that Stillwater appreciates the freedom we have because of Scott and others who willingly serve with the knowledge they may lose their own lives.
Please forward this to others who might like to have the information.
Tuesday, June 3, 2008
Our Buy of The Week this week is 2114 N. Burdick. Don’t let this one get away! Beautiful home with large, open kitchen/dining area with tons of storage. Kitchen has a wonderful center island and ceramic tile.
Living room features a gas log fireplace with built-ins and a trayed ceiling.Large master bedroom with two closets and access to back patio.
Thursday, May 29, 2008
Wednesday, May 28, 2008
Joe most recently was employed in the athletic department at Purdue. Muller graduated from Stillwater High School and Oklahoma State. He worked at Oklahoma State as the director of athletic marketing and promotions from 1985 to 1990 before entering the television industry.
He returned to Oklahoma State in 2002 as an associate athletic director and has been Purdue's senior associate athletic director for external relations the past two years.
Joe Muller will begin his duties at the NCAA Division II school in Edmond in about a month. He replaces Bill Farley, who spent five years as Central Oklahoma's athletic director and now will work with the UCO Foundation.
Joe, welcome back to Oklahoma where YOU belong!
Tuesday, May 27, 2008
More Information on 3008 McMurtry Road Click Here
Thursday, May 22, 2008
Who do you know that is thinking about selling or buying real estate in Stillwater? Drop me an email and I'll be glad to help them find the perfect property that will meet their needs!
Wednesday, May 21, 2008
At a large gathering on the lawn of the Oklahoma State University this morning, President Burns Hargis announced that OSU has received a historic gift of $100 million from OSU alum Boone Pickens. Governor Brad Henry was at the announcement and pledged that the state matching funds of $100 million would be transferred to OSU immediately.