Kim & Terra's Blog

My husband, Brad is a very avid bass fisherman, and has had the opportunity to meet many of the best fisherman in the world, who fish the BASS Elite Series.  He sent me this article written by an Emmy winning author, Don Barone, and if you have the time, read it, I did and was very proud of these guys.  Twelve anglers are left after a 6 event season, to vie for the biggest title in fishing, the Angler of the Year.  With a two event post season remaining, Twelve of the world’s best fisherman, took a day out of their schedules to fish with wounded war veterans.  Don Barone looks past the fishing, at the story of who, how, and why these guys do what they do.  I know it made me proud to be an American.

The story can be found here: Oh Beautiful, by Don Barone

Sales Slow But Remain Above Last Year
With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the National Association of REALTORS®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May, but are 9.8 percent higher than the 4.89 million-unit pace in June 2009.

Lawrence Yun, NAR chief economist, said the market shows uncharacteristic yet understandable swings as buyers responded to the tax credits. “June home sales still reflect a tax credit impact with some sales not closed due to delays, which will show up in the next two months,” he said. “Broadly speaking, sales closed after the home buyer tax credit will be significantly lower compared to the credit-induced spring surge. Only when jobs are created at a sufficient pace will home sales return to sustainable healthy levels.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.74 percent in June from 4.89 percent in May; the rate was 5.42 percent in June 2009.

The national median existing-home price for all housing types was $183,700 in June, which is 1.0 percent higher than a year ago. Distressed homes were at 32 percent of sales last month, compared with 31 percent in May; it was also 31 percent in June 2009.

NAR President Vicki Cox Golder said softer home sales expected this summer don’t tell the whole story. “Despite these market swings, total annual home sales are rising above 2009 and we’re looking for overall gains again this year as well as in 2011,” she said. “Conditions have become more balanced in much of the country, which is good for both buyers and sellers. However, consumers find it even more challenging to navigate the transaction process, especially for distressed properties, which only underscores the value REALTORS® bring to buyers and sellers in this market.”

A parallel NAR practitioner survey shows first-time buyers purchased 43 percent of homes in June, down from 46 percent in May. Investors accounted for 13 percent of sales in June, little changed from 14 percent in May; the remaining purchases were by repeat buyers. All-cash sales were at 24 percent in June compared with 25 percent in May.

Total housing inventory at the end of June rose 2.5 percent to 3.99 million existing homes available for sale, which represents an 8.9-month supply at the current sales pace, up from an 8.3-month supply in May.

“The supply of homes on the market is higher than we’d like to see. But home prices are still holding their ground because prices had already overcorrected in many local markets,” Yun said. Raw unsold inventory remains 12.7 percent below the record of 4.58 million in July 2008.

Single-family home sales fell 5.6 percent to a seasonally adjusted annual rate of 4.70 million in June from a level of 4.98 million in May, but are 8.5 percent above the 4.33 million pace in June 2009. The median existing single-family home price was $184,200 in June, up 1.3 percent from a year ago.

Single-family median existing-home prices were higher in 10 out of 19 metropolitan statistical areas reported in June in comparison with June 2009. In addition, existing single-family home sales rose in 12 of the 19 areas from a year ago while two were unchanged.

Existing condominium and co-op sales slipped 1.5 percent to a seasonally adjusted annual rate of 670,000 in June from 680,000 in May, but are 20.5 percent higher than the 556,000-unit pace in June 2009. The median existing condo price was $180,100 in June, which is 1.4 percent below a year ago.

Regionally, existing-home sales in the Northeast rose 7.9 percent to an annual level of 960,000 in June and are 17.1 percent above June 2009. The median price in the Northeast was $244,300, down 1.2 percent from a year ago.

Existing-home sales in the Midwest dropped 7.5 percent in June to a pace of 1.23 million but are 11.8 percent higher than a year ago. The median price in the Midwest was $155,900, down 0.1 percent from June 2009.

In the South, existing-home sales fell 6.5 percent to an annual level of 2.01 million in June but are 11.0 percent above June 2009. The median price in the South was $163,600, unchanged from a year ago.

Existing-home sales in the West dropped 9.3 percent to an annual pace of 1.17 million in June but are 0.9 percent higher than a year ago. The median price in the West was $221,800, up 1.5 percent from June 2009.

Source: NAR

Last week I had the opportunity to try REAL sushi for the first time. Yes, I have eaten a Spicy Cowboy roll, fried shrimp, before, but that is not true sushi after what I ate with some clients last week. I was so excited when they asked me to go eat lunch with them and then I got so nervous when they said “Lets go to Sushi Neko”. I said “OK” with no hesitation, but when I got off of the phone I panicked. haha  Anyways, I did not have long before I left the office and headed to meet them.  I got there and just told them flat out “I have no clue what to order or how to use chop sticks!” So, they ordered for the table and the experience began. First came the Edamame and it was yummy. Then came the raw tuna and salmon. I was scared just looking at it. But I tried both of them and they were good, but not my favorite and a little rubbery on top of that. I probably will not order that on my own next time, but it was not bad at all. You should try it if you have not before. It will always be a good memory! Lastly, the waiter brought out sushi filled with eel, calamari, shrimp, rice, seaweed and who knows what else. I really liked the roll called a Captain Crunch with eel in it. And the spicy calamari one was very tasty, too. Overall, I had a blast eating something new! If you decide to try sushi and you have not ever eaten it before, I recommend you take a sushi expert/friend with you. Then, have them order for you!

Go to http://www.sushineko.com/index_false.html for more information about Sushi Neko’s food, sushi etiquette, specials and more!

WOW! 350 plus bike riders rode many miles to come support our family and to help make the community aware of all bicyclists on the road! The ride was last Thursday night, July 22, in my uncle Alan Spencer and Clyde Riggs memory. The cyclists road to the site where Alan was hit and then on to Clyde’s  location.  I would say 95% of the riders did not even know my uncle or Riggs and they came just because they felt the connection within their cycling community.  Edmond/OKC is a great place to live especially when we have a community that comes together in hard times like this. Thanks to everyone who participated!

“A ghost bike is a white bike that stands as a memorial along the side of the road where a cyclists was killed by an automobile. The ghost bikes will serve as a reminder for future cyclists and drivers, Kilpatrick said.”

Come see these both of these great listings in SE Edmond! Open from 2-4pm. See you there!

3440 Baird Drive Edmond, Ok 73013  $159,000

3 bed, 2 1/2 bath. 2 living, 2 dining, 1802 sqft/mol, and built in 1967.

 705 Smiling Hill Blvd Edmond, Ok 73013 $178,777

4 bed, 2 bath, 1 living, 2 dining, 2309 sqft/mol, and built in 1977.

****NEW listing coming next week on Kelsey Drive. Listed for $139,000 or less in an awesome location! More details to come.

My uncle, Alan Spencer was killed last Saturday morning in a hit and run accident while riding his bicycle. There is a group of local cyclists planning a tribute ride in his honor Thursday night at 7:30. I thought this was a really neat way to honor his memory. Please watch out for cyclists, they share the road with us all!

Below is an excerpt from a www.newsok.com article about the ride;

Kilpatrick and other local cyclists are joining together for a memorial ride to honor Alan Spencer, 56, of Edmond, and Clyde Riggs, 75, of Oklahoma City, who were killed in separate accidents.

Although many of the cyclists who plan to participate did not know Spencer or Riggs, they shared the same roads and a connection through doing what they loved, Kilpatrick said.

“All of us lost part of us through their deaths,” Kilpatrick said. “This is something that is very close to all of us because we’re out there every day completely vulnerable to the circumstances that led to the deaths of Alan and Clyde.”

Raising awareness

A memorial ride is designed to help cyclists grieve, raise awareness in the community and show support for the men’s families.

Cyclists plan to meet at 7:30 p.m. Thursday near the place where Spencer was killed, north of NE 122 on Midwest Boulevard. They will pause there for a few minutes before riding to the place where Riggs was killed near 5200 E Britton Road. They will place ghost bike memorials at each spot.

A ghost bike is a white bike that stands as a memorial along the side of the road where a cyclist was killed by an automobile. The ghost bikes will serve as a reminder for future cyclists and drivers, Kilpatrick said.

Good news on the corporate earnings front this week as Alcoa, Intel and CSX all beat expectations. However, we need to temper these numbers as they represent April, May and June. This week’s report showed lower retail sales with fewer people buying durable goods (appliances, computers, etc.). Add to that lower consumer sentiment numbers and you can see that the robust recovery numbers from the spring have slowed a bit. But I’m NOT pessimistic because with 90% employment we’re still a pretty big economic engine and people ARE buying houses and other stuff, it’s just that inventories aren’t having to be rebuilt like they were 6 months ago. The good news is that there is virtually no inflation, 1% for the core CPI, so rates remain at record lows. And once all of the political regulation is settled in DC, you’ll see companies start hiring again.

The question is, “How will YOUR business flourish in the meantime?” ATTITUDE! You can buy into all the uncertainty and stagnate or you can bang your drum and tell people just how awesome an opportunity is before them. Do you realize the payment that bought a $200,000 home 6 months ago now buys a $220,000 home??? That’s a $20,000 bonus for buyers. T-W-E-N-T-Y THOUSAND!

This week 30 yr fixed rates ranged between 4.25% and 4.625% depending on program, credit and points.

Ted Clay
Sr. Loan Officer
NMLSR # 217991
OK License # MLO01963

Office: 405-341-8644
Cell: 405-826-1320
e-Fax: 1-866-208-5309

tclay@wrstarkey.com

www.TedClay.com

Thursday at 10 am found me summonsed to the City of Edmond Traffic court. No, I didn’t get a ticket! I was a witness to an accident, and was called to testify as to what happened. I won’t lie, I was nervous and a little intimidated being in that position, however, I was sworn in and told the truth. It feels pretty good knowing I did my civic duty and testified. I feel a strong sense of pride when it comes to the town I live and work in, and it was neat being a part of the process yesterday morning.