The Real Estate Market isn’t local


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I read an article about “The Gig Economy”.  The “gig” is work contracted to individuals.  Like Uber and Lyft.  Quick and easy money for services done by local people but without the benefits of full time employment.  Now, real estate agents and brokers are contract individuals anyway.

It made me think about that scenario within local Real Estate markets and businesses.  In the last 3-5 years, large foreclosure real estate websites have popped up.  The employees of those companies contract with banks and lenders to liquidate the properties they foreclosed on.  I’ve worked with a few.

I paid one company a 30% referral fee.  Typical referral fee within local agents is usually 25%. But, another 5% was okay for my business and no additional fees were applied to a buyer.

However, companies like located in Lewisville, TX. They apply a 5% buyers premium or at least $2500. within their home buying agreements.   Many of the disclosures for buyers to consider is that the seller’s will not pay any seller title typical fees either.

LMS Management’s address is a mystery.  A “processing buyer’s fee” or “short sale fee” is added on top of the negotiated purchase price.  I’ve seen it a high as 10,000 plus all title fees. Their short sale disclosure state’s that their fee can not be added to contract or the HUD1 according to FHA and VA guidelines.   I’ve helped many seller’s do a short sale and it was free to both parties. is owned by Altisource and they are located in Atlanta, GA.  They also add a buyer’s fee and the reo settlement processing is outsourced to India.  The communication and ownership of a file for a local Real Estate buying agent is non existent.  The buying process is frustrating for a buyer, the local lender and the local real estate agent.  A sale I worked on last year, the title company was in Atlanta, GA. (owned by Altisource)  They were to provide title insurance to the buyer.  The lender later found out that it was not provided (it was on the HUD1 and deducted) and had to work the file several months pass the closing day to get it fixed. I can imagine that it was hard to when the company wasn’t local. is located in Irvine, CA. and a company many of my investor clients will not work with.  Apparently they’ve worked with them before and said it was a disaster.  They ask for a bid deposit and bid increment on their site.  The sale asks for 5% earnest money deposit or $2500. which ever is greater and responsible for all title fees.

So, if I was a local real estate buyer in my area, which I have been, I’d have to say that I wouldn’t think the property was such a great deal if I’m nickel and dimes to death.  From a buyer’s perspective a property is listed on the local MLS and the listing price isn’t really the listing price.  It’s a lot higher because of company fees that they want me to pay to buy a property.  Not such a great buy anymore.

If smart real estate investors and smart home buyers who don’t mind a fixer upper, don’t see the best bottom line in their efforts then who buys these homes?  How will this effect our local housing market and neighborhoods.

The Housing and Urban Development tells Americans that home buying is the best investment.  It will repay you in future years when you go to sell it.                      But, that is only true in how you buy it.

Oklahoma Storm Shelter Rebate Programs to Apply For


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September 2014 Grants were given out in Oklahoma.  This list will take you to various applications to apply for a storm shelter.  Good luck!

Below is a list of Storm Shelter Rebate Programs, there may be more and we will update our information as it becomes available.

SoonerSafe Rebates – this is Oklahoma’s state-wide, annual, safe room and storm shelter rebate program. This program will cover 75%, up to $2000, of a qualified safe room or storm shelter.

Chickasaw Nation Storm Shelter Program – this is only available for members of the Chickasaw Nation, you are eligible to apply for a storm shelter. If approved you will be placed on their storm shelter waiting list.

Pittsburg County – this is similar to the SoonerSafe rebate program. This rebate program will cover 75%, up to $2000, of a qualified safe room or storm shelter purchase.

Delaware County – this is similar to the SoonerSafe rebate program. This rebate program will cover 75%, up to $2000, of a qualified safe room or storm shelter purchase. The shelter purchase must be for your primary residence and you have 6 months to have the shelter installed.

Sequoyah County –  This particular grant program will reimburse up to $2,000 for each approved applicant to have a storm shelter or safe room built on their property.  To find out more information, contact Sequoyah County’s Department of Emergency and ask for more information.

Okfuskee County – we will update when details become available

Wagoner County – we will update when details become available


Oklahoma City – Red Cross and Oklahoma City now offers rebates for storm shelters.  The 2014 program allowed homeowners in Oklahoma City a chance to receive up to a $2,500 rebate on the purchase of a new underground storm shelter or safe room.

Oklahoma City – this rebate program will cover 75%, up to $2000, of a qualified safe room or storm shelter purchase.  Please contact Oklahoma City’s Emergency Management for more information at (405) 605-8200.

Norman – this rebate program will cover 75%, up to $2500, of a qualified safe room or storm shelter purchase, but this program has already expired.

Courtesy of RealOK-Real Property Realty, LLC in Edmond, Oklahoma



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That’s the word for today.  You market something to one group of buyers and they think the price is high, but you market to another group of buyers and they think it’s a great deal.  People’s perceptions is what sells your product.  You know that the price is good, but some people won’t see it.  So, you need to look for the uniqueness and the niche.  Find what’s good about the product and market that goodness.  It’s strange.  I know.  I see it everyday and it still baffles me.


Edmond, Oklahoma market data February 2014


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Edmond, Oklahoma market data February 2014

Market Summary

There are currently 107 properties in Edmond, OK that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 739.

In December, the number of properties that received a foreclosure filing in Edmond, OK was 45% lower than the previous month and 49% lower than the same time last year.

Home sales for November 2013 were down 8% compared with the previous month, and down 14% compared with a year ago. The median sales price of a non-distressed home was $190,000. The median sales price of a foreclosure home was $130,000, or 32% lower than non-distressed home sales.

-Flora Qualls
Edmond, Oklahoma

The Best Overcoming Objection I’ve heard


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A Search Engine Optimization company wants me to hear about how well they will place my website organically on the first page of an internet search.  I really didn’t want to listen or go through the selling pitch or spill, but  they won’t tell you the bottom line a the beginning of a conversation. 

So, I listened for 30 or more minutes.  Answering their questions with a simple yes or no and at some point surfing the internet while listening for key phrases and points that may be important.

When all the while I just want to know “how much?”

We get to the end I hear the price.  I tell him that I think their starting point would be sufficient enough, but the price is too high.

He clears his throat and I hear a little bit of disbelief in his voice and he then proceeds to say

So what your saying is that if you had enough confidence  to build your business, then you’d be interested.

“Huh, no.  If I wanted to pay you an exorbitant fee for six months then I’d be interested.”  Click

Apparently making you feel inadequate is the new sales strategy these days.


Sustainable or Sustainable Development-What is it?


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This was taken from an e-newsletter that receive from Mark Sharpton, who’s a county commissioner for Logan County in Oklahoma District 1.

As a county commissioner I am often in regional planning meetings
where I continually hear the word “sustainable” or “sustainable
development.” If you begin to pay attention, you will hear it too, or
read it in news articles and reports generated by government planning
entities. What does the word mean and why is it used so frequently? It
sounds good, but is it? In an effort to educate myself on the subject,
I attended a conference in Tulsa to hear Rosa Koire, a recognized
spokesperson on the topic. I found what she had to say troubling. Here
is some of what she said and encouraged us to share with others….

“Sustainable Development was created and defined by the United Nations
in 1987, and the action plan to implement it was signed onto in 1992
by President Bush and 178 other nations. It was called Agenda 21, the
Agenda for the 21st century. Considered unsustainable under this plan
are middle class lifestyles, single family homes, private vehicles,
meat-eating, air conditioning, appliances, dams and farming.

President Clinton began to implement it in the US in 1993 by giving
the American Planning Association a multi-million dollar grant to
write a land use legislative blueprint for every municipality in the
US. It is called the “Growing Smart Legislative Guidebook with Model
Statutes for Planning and the Management of Change.” This was
completed in 2002 and is being used to train planners in universities,
colleges and government planning offices throughout the nation.
“Growing Smart” is sometimes referred to as Smart Growth.

“Growing Smart” is in planning departments and its principles are in
city and regional plans right now. In addition, there is “The Local
Agenda 21 Planning Guide” put out by the United Nations and the
International Council for Local Environmental Initiatives (ICLEI).
Urban areas are being consolidated and rural areas emptied of people
through restrictive land use policies, gasoline costs, loss of rural
road maintenance, closure of rural schools, closure of rural post
offices, water well monitoring, smart meters and regionalization
pressures. “Smart Growth” is not just the preferred building style for
UN Agenda 21/Sustainable Development; it is the ideology. Moving
people into centralized urban areas in high density housing creates
the perfect opportunity for domestic surveillance. This ideology is
being used as the justification to radically change every city in the
US and to impose regulations dictated by unelected regional boards and
commissions. It is remaking government. This affects private property
rights and extends to every facet of our lives: education, energy,
food, housing and transportation.”

As a county commissioner, I can assure you that I have seen efforts
underway to implement “sustainability.” It is occurring at various
levels of government. On Friday, May 24, 9:30 am to 4:00 pm, Kevin St.
Jacques, part of the National Complete Streets Speakers Bureau will be
in Guthrie to present a workshop which I believe is related to this
issue. A public form is scheduled the same day at 6:00 pm at Guthrie
City Hall Council Chambers. Specific information about this event is
posted at  Additional information about
“sustainability” is available at

If I Was The Queen Of Real Estate


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English: Manufactured home built and ready for...

English: Manufactured home built and ready for shipment to your site (Photo credit: Wikipedia)

If I was the queen of real estate I would require all mobile/manufactured home sellers to disclose what type of foundation they have.  This would keep a lot of buyers from wasting time and money on whether or not a lender will actually loan on the manufactured home.

Mobile/manufactured homes are a big question mark to lenders and they don’t like loaning money to people to buy them. However, if the foundation is set according to HUD regulations along with age verification of the home, it could qualify for a USDA, FHA and or VA loan types.

How do you find out?  The seller would know and if they truly don’t know then it’s up to the buyer to pay a structural engineer to inspect the foundation to let them know.  How frustrating is that?

Seriously, the seller would know.  I say if they don’t, Walk away.  unless you have a good friend or relative who’s a structural engineer who will check it out for you.

Lessons Learned


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What was the one experience that completely changed your life? What happened? How did it change your life?

I was only 30 years old when My first husband passed away from a brain tumor.  My son was 11 months old. The responsibility to take care of my husband and my son was overwhelming, but manageable. Or at least I thought it was.

We dealt with all kinds of doctors an specialists.  When I look back at that experience I remember that we were told to do and to do that and that is what we did.  I had never been in a situation where I was a care giver to someone who was terminally ill. 

When I look at the experience now, I think I am not believing anything doctors tell me. I realize that we have choices but,  that only through experience will we learn that.

We experience and learn.  We live and learn.  So when someone offers advise with something that your going through, they may know something that you don’t.  The advise could be helpful.

I wouldn’t change the experience for anything. It taught me a lot. I don’t regret or resent anyone or anything.  I’m still learning. Through mistakes and experience, I learn.


HUD announces changes to FHA


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HUD Announces Changes to FHA
On January 30, 2013, the Federal Housing Administration’s (FHA) Commissioner Carol Galante announced a series of changes to be issued this week that manage risk and further strengthen the heath of FHA’s Mutual Mortgage Insurance Fund (MMI Fund). Highlights of some of these changes are below. For more information, click here.Consolidation of the Standard Fixed-Rate Home Equity Conversion Mortgage (HECM) and Saver Fixed Rate HECM pricing options.
The annual mortgage insurance premium (MIP) for most new mortgages will increase by 10 basis points, or by 0.10 percent.  Premiums on jumbo mortgages ($625,000 or larger) will increase by 5 basis points, or 0.05 percent.  These premium increases exclude certain streamline refinance transactions.
FHA will require most FHA borrowers to continue paying annual premiums for the life of their mortgage loan.
Downpayment requirements for mortgages with original principle balances above $625,500 will be raised from 3.5% to 5%.  


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