What an exciting and memorable day to be part of this worthy cause! It was obvious that this was a very well-organized operation and by the time I got there, the highly skilled contruction workers were very hard at work. It was cold but there were heated tents to warm up and even a mess hall with hot food for hungry workers! Read about the Skaggs family: http://www.idealextremehome.com/

Build kicks off
February 2-7
Demolition and Extreme Makeover (check back February 1 for a detailed construction schedule)
February 7
Move that Bus! Family comes home, and the home is revealed

If you want to be there for the "big reveal" on Sunday and need information about where to where to go or where to park, call, email or text me and I'll share info!

First time homebuyers buying NEW or RESALE homes are eligible for the First Time Homebuyers Tax Credit as long as the home is under contract by April 30, 2010. You must not have owned a principal residence during the three years prior to the purchase. That Tax Credit is equal to 10% of the purchase price up to a maximum of $8000. There is an income limit for single taxpayers: $125,000. For married taxpayers filing jointly, the income limit is $225,000. To claim the tax credit, you'll complete IRS form #5405 and claim the amount on line 67 of the 1040 form. That's the same form for the Repeat Buyer Tax Credit of $6500. This is a Tax Credit, offsetting any monies owed to the IRS. If you owe nothing, you'll receive the full amount. It's that simple! No other forms, no other requirements.

Be sure to take advantage of this opportunity and contact your realtor today! This program is NOT expected to be extended! Time is running out!

Labels: First Home, First Time Homebuyer Tax Credit, Home Buyer, Repeat Buyer Tax Credit, Tax Credit Limits, Taxes

According to the Preston Report, Edmond home values seem to be holding steady, overall. Total Home Sales were down nearly 5% from 2008 but much of that decrease was seen in the over $500,000 price point. At that price point, there was a 40% decrease in total sales in 2009 from 2008. The good news is, some Edmond neighborhoods averaged exactly the same price/square foot in 2008 as in 2009. Holding steady! The $200-300,000 price point is showing sales improvement after a slump in that range through late 2008 and early 2009.

Contact me for your free copy of the Preston Report: Email me at kay@kaypratt.com.

This winter weather can either contribute to the "blahs" or it can be a motivator to make use of the time indoors to start a project. It's proven fact that even minor upgrades to your home such as new tile in the bathroom, replacing faucets & light fixtures, or sprucing up kitchen cabinets can yield great return on investment! This is the time many folks are considering placing a home on the market and now is the time to take advantage of being stuck at home. For only a few hundred dollars (less if you're thrifty!) and a weekend,your home could have an advantage in the marketplace when ready to sell. Not only will you get 100% of that investment but it'll show better and without question, sell faster!

Labels: home repairs, home selling, kay pratt, projects, remodelling

It's always rewarding to hear from my past clients even when there's a problem to resolve. I'm confident we can surely find a satisfying solution. Today was especially nice to hear from Ms. Killian. We discussed how her move-in was going and answered questions about Homestead Exemption. Just before saying good-bye, I reminded her to be safe with the approaching winter storm. Excitedly,she began to share with me how she was absolutely certain she'd made the right decision in her home purchase. During the blizzard of December 2009, having just recently moved into her home in OKC, while unpacking, she caught a glimpse of a boy and what appeared to be his father moving around outside her house. As she went to the door to investigate, she saw that they'd shovelled her entire drive and walkway! Refusing any payment offered, they kindly left as quietly as they'd arrived. That random act of kindness confirmed with Ms. Killian what a right choice she'd made! Finding the right home is important....Good neighbors are priceless!

Labels: blizzard 2009, good neighbors, homestead exemption, moving, Ms. Killian, neighborhoods, real estate, snow

Once again the Kay Pratt Real Estate team is leading the way with cutting edge web technology. We are one of the first, if not THE first, Realtors to have the OKC Metro area listing on your iPhone. You can download the application from the iTunes story, just search for IDX and download IDX Broker. Put in our agent code of 3745 and you can search for listing using our custom application right on your phone. Best of all it is integrated with Google Maps and the built in GPS on the iPhone, so while you are driving through a neighborhood you can see the listings available, see pictures and details, and see the price it is selling for.

3745

We started work today on a series of videos to help home buyers understand the steps needed to get a home loan. Our first clip is from Kenneth Wohl at Spirit Bank, a lendor I highly recommend to buyers.

In this short clip Kenneth talks about a special FHA loan for Native American's. The loan is like a typical FHA loan with the exception there is no mortgage interest, meaning the monthly payments are less for the buyer. Click below to play the video, and watch for more videos as we get them produced.

Watching television or reading the national newspapers, you would think the local real estate market has been in a total meltdown for the past year. Not so in Edmond. While home prices are down ever so slightly, the Edmond market is holding up well despite an increase in foreclosures in Oklahoma. According my fellow RE/MAX Realtor Brian Preston, who produces the Edmond Market Report each month, the average home sale price in Edmond was $244,275 for July, compared to $225,577 in January. New home prices were down just a bit, from $255K in January to $254K in July. Total sales have doubled since January, which is not unusual for the summer months.

This article also says Oklahoma home foreclosers are holding steady at a time when other regions of the country are increasing.

While it is clear the Edmond marketplace is a buyer's market, it is still a good market for sellers. Prices are holding steady, yet buyers have a lot of homes on the market to choose from. This means sellers must make sure their homes stand out with proper upkeep, maintenance, and decor, yet they don't have to take a huge loss just to sell their home. So whether you are a buyer or seller in Edmond, it is a good time in a troubled market.