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Just Listed: A Custom 4-Bedroom Oasis in the Estates of Apple Valley!

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Welcome to 7400 NE 97th Terrace, nestled in the established Estates of Apple Valley, a secluded gem in the heart of Northeast Oklahoma City just east of I35.

Located in the Oakdale School District, this custom built property offers an appealing blend of spacious living, modern amenities, and a tranquil 1.2-acre oasis, making it the perfect place to call home.

As you approach this charming residence, you'll immediately notice the sprawling corner lot located at the end of cul de sac. The private backyard beckons you to enjoy your coffee on your generous sized deck, entertain, or simply relax in the serenity of your own slice of nature under a canopy of mature trees. A handy storage shed provides ample space for outdoor equipment.

Step inside, and you'll be greeted by an inviting interior that effortlessly balances elegance and functionality. Immediately through the front door you are a greeted by the formal living and dining spaces that flow into the main living room. Soaring cathedral ceilings and a cozy fireplace defines the primary living room which gracefully merges into the spacious kitchen, creating an open and welcoming atmosphere.

This thoughtfully designed home offers 4 bedrooms, including a private primary suite conveniently located on the ground floor. Upstairs, you'll discover 3 additional bedrooms and 2 full bathrooms.

The upper level is truly versatile, featuring a large open loft that can be customized to meet your unique needs. Whether it's a teen hangout, playroom, a home office, workout space, or an extra media room, the possibilities are endless. Adjacent to the loft, a private flex space awaits, complete with a bar, beverage fridge, and a full bathroom. It's the perfect canvas for a man cave, comfortable guest quarters, or home office, limited only by your imagination.

This one-owner home has been lovingly maintained and upgraded. It's a smart home, featuring a fresh coat of interior paint, refinished kitchen and master bathroom cabinets, surround sound, security system, and a host of other modern conveniences. Be sure to ask for the comprehensive features list to truly appreciate all this home has to offer.

Don't miss the opportunity to make this exceptional property your own. Schedule your private tour today and discover why 7400 NE 97th Terrace is a must-see!

Listed by Melissa Chamberlain for West + Main Homes. Please contact Melissa for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Melissa Chamberlain
405-760-6496
melissa@westandmainok.com

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Just Listed: Discover Serenity and Charm in Calm Springs!

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Welcome to the quiet neighborhood of Calm Springs!

This conveniently located 3-bedroom, 2-bathroom home offers the perfect blend of comfort and style. Step inside and discover the inviting open-concept living space, with wood-look tile floors and crown molding throughout - complete with a cozy gas burning fireplace. The well-appointed kitchen boasts a large pantry, gas range, and great counter space, making meal preparation a breeze. The primary suite is a peaceful retreat, providing a relaxing escape from the hustle and bustle of daily life complete with double vanities, tiled shower with a bench, jetted tub, and large three-tier closet. Two additional bedrooms, guest bathroom, and laundry room complete the interior of the home. The covered back patio is the perfect place to sip your morning coffee or take in the beautiful Oklahoma sunsets in tranquility. Additional features include an upgraded lighting package, solid wood doors, window treatments, and in-ground storm shelter. Experience the serenity and charm of this Yukon gem!

Listed by Dita Sartain for West + Main Homes. Please contact Dita for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Dita Sartain
571-215-0864
dita@westandmainok.com

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To overcome surging mortgage rates, borrowers are turning to mom and dad

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Having non-occupant co-borrowers has become a popular option for first-time homebuyers looking to qualify for a mortgage.

The loan officers that Scott Groves talks to are struggling. Really struggling. Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. It’s no longer about just outlasting a bad market for a couple of months.

“I would say a vast majority of LOs have woken up to the fact that it won’t get easier,” said Groves, a branch manager at Synergy One Lending and owner of Consolidated Coaching. 

Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers. 

“Instead of Mary and Bob Smith buying a place, it’s Mary and Bob Smith and Bob’s mom,” said Dominic Carlucci, sales manager at CMG Home Loans. “We’re bringing her into the fold because in central New Jersey, North Jersey, it’s expensive to live here.”

Family members or friends can become a non-occupant co-borrower on a mortgage to help borrowers take out a loan if they have poor credit, limited employment history or a high debt balance. 

With an increase in the number of first-time buyers not meeting the eligible debt-to-income (DTI) ratio, a parent can be added to the mortgage loan, with his or her income and liabilities considered and ultimately be included in the combined DTI ratio. 

While having a non-occupant co-borrower on a mortgage wasn’t as common when mortgage rates were at an all-time low, times have changed. 

“You need to know what programs you can or can not have a co-signer,” said Groves. “What programs can you or can you not use room rental income from a family member? It’s about how do you have those conversations with a family member who wants to help their niece or nephew get into a house?”

The importance for loan officers being able to have more exploratory conversations with every lead has become crucial as the cost to borrow mortgages aren’t expected to get lower any time soon with the Federal Reserve expected to keep interest rates higher for longer. 

LOs told HousingWire that they were quoting borrowers in the mid-to-high 7% range for 30-year fixed-rate mortgages this week, even greater than the 7.31% figure reported by Freddie Mac on Thursday.

There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%.

Whether it’s more niche products like bank statement loans, construction-to-permanent loans or down payment assistance programs, LOs have been forced to sharpen their swords and master the products to get buyers into homes in a brutal marketplace. 

“You have to be able to switch hats and do all those products because if you’re not, you are not going to piece together enough units to survive in this market,” Groves said.

Read more at housingwire.com

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Home Prices Are Not Falling

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During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023.

The media ran with those forecasts and put out headlines calling for doom and gloom in the housing market. All of this negative news coverage made a lot of people have doubts about the strength of the residential real estate market.

If it made you question if you should delay your own plans to move, here’s what you really need to know.

Home Prices Never Crashed

Disregard what you saw in the headlines. The actual data shows home prices were remarkably resilient and performed far better than the media would have you believe (see graph below):

 
 

This graph uses reports from three trusted sources to clearly illustrate prices have already rebounded after experiencing only slight declines nationally. That’s a far cry from the crash so many articles called for.

The declines that did happen (shown in red), weren’t drastic but were short-lived. As Nicole Friedman, a reporter at the Wall Street Journal (WSJ), says:

“Home prices aren’t falling anymore. . . The surprisingly quick recovery suggests that the residential real-estate downturn is turning out to be shorter and shallower than many housing economists expected . . .”

Even though some media coverage made a big deal about home prices pulling back, the slight correction that happened is already in the rearview mirror. Basically, this data shows you home prices aren’t falling anymore – they’re actually going back up.

What’s Next for Home Prices?

The consensus from experts is that home price growth will continue in the years ahead and is returning to normal levels for the market. That means we’ll still see home prices appreciating, just at a slower pace than the last few years – and that’s a good thing.

Some news sources will see home price growth slowing and put out stories that make you think prices are falling again. The return of misleading headlines like those is already having an impact on how homebuyers are feeling again. You can see how this affects general opinion in the Consumer Confidence Survey from Fannie Mae (see graph below):

 
 

While the percentage of Americans who think prices will fall has been slowly declining this year, the latest Consumer Confidence data indicates that’s ticked back up recently (shown in red). This change is surprising especially since the home price data shows prices are going up, not down. It tells you the impact the media still has on public opinion.

Don’t fall for the negative headlines and become part of this statistic. Remember, data from a number of sources shows home prices aren’t falling anymore.

Bottom Line

Even though the media may make things sound doom and gloom, the data shows home prices aren’t falling anymore. So, don’t let the headlines scare you or delay your plans. Lean on a real estate professional so you have a trusted resource to cut through the noise and tell you what’s really happening in your area.

Get all the details at keepingcurrentmatters.com

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Everything You Need to Know About Installing Hardwood Flooring In Your Home

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Hardwood flooring is one of the most popular flooring options among homeowners.

It brings a timeless and elegant look to your home and increases your home's resale value. However, installing hardwood flooring can be a real challenge, especially if you are a DIY enthusiast.

Here's everything you need to know about installing hardwood flooring in your home.

Choose the Right Type of Hardwood Flooring
The first step in installing hardwood flooring is choosing the right type of flooring. There are two main types of hardwood flooring: solid wood flooring and engineered wood flooring. Solid wood flooring is made of solid wood planks and is best for high-traffic areas. Engineered wood flooring is made of several layers of wood and is more resistant to moisture.

You should also consider the wood species, color, and style of flooring that you want. Some popular wood species include oak, maple, and cherry. You can choose from different types of finishes, such as glossy and matte, to match your home's style.

Prepare the Subfloor
Before you can install hardwood flooring, you need to prepare the subfloor. The subfloor should be clean, flat, and dry. If your subfloor is made of concrete, you need to install a vapor barrier to prevent moisture from seeping through the concrete.

If your subfloor is uneven, you can use a leveling compound to even it out. You should also remove any old flooring or carpeting, as they can affect the hardwood flooring's durability.

Install the Hardwood Flooring
Once the subfloor is ready, you can start installing the hardwood flooring. The first step is to lay the vapor barrier if needed. Then, you can start laying the flooring planks by nailing or gluing them down.

To achieve a professional look, you should stagger the planks and leave a small gap between them for expansion. You can use a flooring nailer or stapler to secure the planks to the subfloor.

Sand and Finish the Hardwood Flooring
After installing the flooring, you need to sand and finish it. Sanding removes any rough spots or scratches on the flooring and prepares it for the finish. You can use a drum sander or a random orbital sander to sand the floor.

Once you've sanded the floor, you can apply the finish. There are different types of finishes, such as polyurethane and oil-based finishes. You should apply at least three coats of finish to protect the flooring.

Maintain the Hardwood Flooring
Maintaining hardwood flooring is crucial for its durability and longevity. You should avoid using water to clean the flooring, as it can damage the finish and the wood. Instead, use a dry mop or a vacuum to remove dirt and debris.

You should also avoid exposing the flooring to direct sunlight, as it can cause the wood to fade. Use window treatments to block the sun's rays and protect the flooring.

Installing hardwood flooring is a significant investment, but it can bring a lot of benefits to your home. By choosing the right type of flooring, preparing the subfloor, installing the flooring correctly, and maintaining it, you can enjoy the beauty and durability of hardwood flooring for years to come. Follow the steps outlined in this guide, and you'll have a professional-looking floor that you can be proud of.

Learn more at rismedia.com

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