10704 Saint Michel Circle Oklahoma City, OK 73151 $289,777

OPEN HOUSE TODAY 2:00-4:00 p.m.

3 bed, 2.5 bath, 2 living, 2 dining, plus a study, built in 2005, and 2333 sqft/mol.Exquisite home located in Oakdale Schools! Immaculate throughout with extra amenities. Gourmet kitchen with a beautiful view, granite and designer island.  Ample storage and built ins. Stairs leading to large attic space that could be completed as flex room. Stained concrete side walk wrapping around home. Backs up to greenbelt with trees and pond! Active HOA includes gated entrance, well maintained grounds, pool, ponds, and community center.

Well, the R.E.D Team has been BUSY this week writing offers and selling houses! In one week we have sold 5 houses. If that does not tell you the market is picking up, I don’t know what will. The Oklahoma City metro real estate market is booming! Do you want to be a part of it? If you know of anyone wanting to buy or sell their home, send them our way! The R.E.D. Team would be happy to help and we ALWAYS appreciate referrals!

Another mixed bag this week as the Gross Domestic Product came in at 2.8% which fell short of the wish-estimate of 3.2%.  Drilling down into the numbers, 2% of the growth came from restocking inventories and 2% came from consumer spending, reflecting the good consumer sentiment numbers from the University of Michigan.  But local governments continue to shrink and took away 4% giving us two steps forward, one step back.  

There is simply too much uncertainty in our system with this kind of good/bad economic news each day.  Add to this the uncertainty in Europe and it’s like we are floating down a river which has rapids.  We have to just tread water so we can keep our head up to see what rock is coming at us. Once we get to some smooth water, we can feel comfortable putting our head down and swimming forward with out worrying about crashing into an economic rock that would knock us out.

Anyway…the good news is that because of this the Fed announced again that it will continue to keep rates low.  Excellent!  Remember what I said last week about buying power.  Buyers have approximately 25% more buying power today than in 2007.  What an opportunity!

This week Freddie Mac’s 30 year fixed rate ticked up a bit to 3.98% depending on program, credit and points. 

Starkey Mortgage is an equal housing lender.

                                                                                                       The views expressed are those of the author and do not represent Starkey Mortgage.

Ted Clay
Senior Loan Officer
Senior Loan Consultant
NMLSR # 217991
OK License # MLO01963
Office: 405-341-8644 x 102
Cell: 405-826-1320
Fax: 866-208-5309
tclay@wrstarkey.com
www.TedClay.com

WR Starkey Mortgage, LLP NMLSR # 2146
10 E. Campbell
Edmond, OK 73034

This past weekend I decided that my bathroom sink was draining way to slow. So, I thought about what one of my favorite home inspectors tells our clients. He always says when you have a slow draining sink then put equal parts vinegar and baking soda down the drain. So that is what I did. I put probably a 1/4 cup of baking soda down the drain and followed with a 1/4 cup vinegar.

It bubbled lots, but as soon as it calmed down, it drained so much faster. Everything went right down without a delay!

3612 Hunters Creek Road Edmond, OK 73003 

Listed at $555,000. Wow! Fabulous home with 4.5 bath, 4 bed plus a study, 2 dining, 3  living, 4355 sqft/mol and built in 2003. Wood floor in study and formal living. Features a wonderful upstairs suite including full bath, huge bedroom, and perfect media/game room. Top quality solid core doors, intricate woodwork, and crown molding throughout. Absolutely beautiful gourmet kitchen club with built ins, double ovens and bar seating. Surround sound inside and out, 2 walk in attics and 3 covered patios.

Last night I was planning my schedule for  today and Jagger wanted to help! I had to make appointments to see a few houses to some friends who are looking at homes for their in-laws. Hopefully they will be moving to town soon. Good times!

By the way, Jagger loves helping Mom with work especially when it involves getting to pound on the key board!

Are we there yet?  Well, Europe looked better this week as the bond auctions for Spain and France went well.  Unemployment claims came in well below prior levels.  The S&P showed its best yearly start in 15 years, AND even Bank of America surprised the financial markets with a great 4^th quarter.  Even so, we won’t be out of the woods until Europe goes through its version of a chapter 13 bankruptcy.   Until then, we will continue our slow but steady recovery.  What  most don’t realize due to all the negative news is the positive aspect of our current real estate market. The key is perspective. 

It’s understandable that you long to be back in 2007, but do you realize that today’s rates allow you to buy approximately 25% MORE home for the same monthly payment than you could in 2007?  In 2007 let’s say your budget would buy a $300,000 home.  Now that SAME budget buys a $400,000 home.  Granted you’ll take a discount when you sell your current home but you’ll get that same discount on the next home you buy…ONLY NOW rates allow you to buy a home worth 25% more!  You are actually better off than in 2007!

So, you can either focus on the negative and live in the past or you can see the incredible value that is out there right now and grab it.  The key is perspective.  We have low inflation, real estate values stabilizing and more buying power than  I have ever seen in my lifetime. The choice is up to you.

This week Freddie Mac’s 30 year fixed rate survey came in at 3.88% depending on program, credit and points.  

To unsubscribe, simply reply back to me with a request. Thanks.  If you know of someone else who might like to receive this, just have them send me an email to add their email address to my list.

This message is intended for real estate professionals only.

Starkey Mortgage is an equal housing lender.

                                                                                                              The views expressed are those of the author and do not represent Starkey Mortgage.

Ted Clay
Senior Loan Officer
Senior Loan Consultant
NMLSR # 217991
OK License # MLO01963
Office: 405-341-8644 x 102
Cell: 405-826-1320
Fax: 866-208-5309
tclay@wrstarkey.com
www.TedClay.com

WR Starkey Mortgage, LLP NMLSR # 2146
10 E. Campbell
Edmond, OK 73034

A December hangover is what we have this week.  After some relatively good economic news in December we are seeing retail sales and trade deficit numbers coming in lack luster.  This is due in part to the normal ups and downs of this anemic recovery and also in part due to the coming recession in Europe and the uptick in oil prices.  Europe is buying less from us and we are paying increased oil prices resulting in us sending more money overseas.  BUT, on the bright side, the consumer sentiment numbers from the University of Michigan show that the ‘average Joe or Josephine’ are feeling better about our economy.  That is good news.  What this boils down to is more of the same ‘slow growth’ muddling-through.

RATES!   Whether purchase or refi, people need to know how much VALUE this low rate environment creates for them and their family (call on your friendly mortgage loan officer to help you with this).  I just showed a friend how to pay for his spring break trip and keep his mortgage payment the same…without adding years to the loan.  Now that’s TRUE VALUE.

This week Freddie Mac’s 30 yr. fixed rate dropped to 3.89%  assuming points and good credit.

To unsubscribe, simply reply back to me with a request. Thanks.  If you know of someone else who might like to receive this, just have them send me an email to add their email address to my list.

Starkey Mortgage is an equal housing lender.

                            The views expressed are those of the author and do not represent Starkey Mortgage.

Ted Clay
Senior Loan Officer
Senior Loan Consultant
NMLSR # 217991
OK License # MLO01963
Office: 405-341-8644 x 102
Cell: 405-826-1320
Fax: 866-208-5309
tclay@wrstarkey.com
www.TedClay.com

WR Starkey Mortgage, LLP NMLSR # 2146
10 E. Campbell
Edmond, OK 73034