News Press Stillwater
REALESTATE W e e k ly Your best source for weekly real estate news and listings for Stillwater and surrounding communities
June 9, 2017 The average 30-year fixed-rate mortgage dropped to its lowest level since November, averaging 4.14 percent last week, the MBA reports. Following the two weeks after the presidential election, mortgage rates jumped from 3.77 percent to 4.16 percent.
2106 WALKING TRAIL
Featured Homes: 2106 Walking Trail - 4 bed / 3.5 bath/ 3 car garage with storage. Original owner - custom built by Ron Walker. Home features surround sound, storm shelter closet, 2 fireplaces, lots of built-ins. Beautiful outdoor landscaping includes a rock fireplace, lighting, waterfall. Many more extras. Call Barbara today to see this one of a kind house. 405-747-8804 Multi-Family Property - 1 Triplex, 2 Duplexes plus 14 small storage units all in Perkins. To see this property call Barbara 405-7478804.
Weekly Features:
MULTIFAMILY MULTI FAMILY PROPERTY PROPERTY IN IN PERKINS PERKINS
• About Real Estate • Classifieds • Open House Map Visit our web site at
stwnewspress.com » Classifieds » Real Estate Weekly to download the current PDF edition and see participating Realtors. To advertise your home in Real Estate Weekly, call (405) 372-5000.
2106 WALKING TRAIL - 4 bed / 3.5 homes bath/ 3 car garage with storage. Original owner - custom built by These offered by Houck Agency Ron Walker. Home features surround sound, storm shelter closet, 2 fireplaces, lots of built-ins. Beautiful (405) 372-5343, Ext.13 • 801 S. Main, Stillwater, OK outdoor landscaping includes a rock fireplace, lighting, waterfall. Many more extras. Call Barbara today to see this one of a kind house. 405-747-8804 MULTI FAMILY PROPERTY - 1 Triplex, 2 Duplexes plus 14 small storage units all in Perkins. To see this property call Barbara 405-747-8804.
Squash bug management problems Squash bugs, in contact with the recommendations insects that attack product as they because the choice of not only squash, but come and go off the products on the marpumpkin, watermelplant. ket varies greatly on, cantaloupe, and I saved the chem- in their percentage cucumber have been ical control options of active ingredient a real problem for for last because if and formulation growers the last sevthat is the only step method. However, eral years. We have you take, you will looking for the folnot seen any signs of almost certainly be lowing active ingrethem letting up this unsuccessful! It is dients and carefully of the egg clusters year. If you’ve had control strategy is to always difficult to following the label squash bugs recent- is your second most place a few boards give exact pesticide instructions on the ly, you can count on effective control near the plants to method. The bugs having them again take advantage of hatch as small green this behavior. The this year. Consider nymphs (looking these factors to inbugs will collect nothing like the crease your odds of under them at night successfully dealing adults). It is at this and you can easily point that chemical with this troublecollect or kill them control will be most some pest. early in the morning effective. We’ll talk Let’s begin with simply by flipping more about that at the life cycle. The the boards over. The the end of this artrue key to successbase of the plant is ticle. ful management is also a great place to As squash bugs not to completely concentrate anothbegin to grow and eliminate this pest, er organic control feed, they like to but to manage the option; sprinkling seek shelter around diatomaceous earth populations. Early the base of the plant around so the success will pay big and dark areas. dividends. Squash nymphs will come bugs can overwinter Another successful as adults in last THE RE/MAX SIGNATURE EXPERIENCE Dedicated professionals providing unrivaled service. OPEN HOUSE WEEKEND year’s plant debris. This makes fall Saturday June 10th ~ 10 am - 12 pm garden cleanup for Sunday June 11th ~ 1 pm - 3 pm these crops especially important. This 4805 Hunters Circle is your first line Jessica Durham, Agent of defense. When EXPERIENCE THE RE/MAX SIGNATURE Dedicated professionals providing unrivaled service. the adults begin THE RE/MAX SIGNATURE EXPERIENCE laying eggs in late Dedicated professionals providing unrivaled service. April-early May, RE/MAX SIGNATURE 114 W. HALL OF FAME, STILLWATER, OK 74075 simply crushing or 405.533.3000 | StillwaterSignatureRealEstate.com 911 S Main • 405-332-5553 otherwise disposing
Home Grown
KEITH REED
RE/MAX SIGNATURE 114 W. HALL OF FAME, STILLWATER, OK 74075 405.533.3000 | StillwaterSignatureRealEstate.com
Gina Killough
Stillwater NewsPress • Friday, June 9, 2017
GinaKilloughHomes.com 405.612.2210
Ted Newlin
TedNewlin.Realtor.com 405.714.5309
Vicky Jerome
VickyJeromeHomes.com 405.747.7239
Candy Yundt
Tina Darr
Stillyhomes.com 405.697.0045
RE/MAX SIGNATURE 114 W. HALL OF FAME, STILLWATER, OK 74075 405.533.3000 | StillwaterSignatureRealEstate.com
Brooks Thomas
Gina Killough
GinaKilloughHomes.com 405.612.2210
Cheryl Carpenter Martin
BrooksThomasRealty.com 405.880.3476
Vicky Jerome
RealtorMomPro.com 405.880.5569
CherylCarpenterMartinHomes.com 405.880.7354
Kasey Longan
Ted Newlin
TedNewlin.Realtor.com 405.714.5309
Tina Darr
VickyJeromeHomes.com 405.747.7239
Brooks Thomas
Kasey Longan
Gina Killough
Each office independently owned and operated.
Amanda Meberg
admeberg@gmail.com 405.612.2096
OPEN HOUSE • SUNDAY, JUNE 11 Candy 22 Yundt OPEN HOUSE SUN. JAN.
Ted Newlin
Tina Darr
Cheryl Carpenter Martin
CherylCarpenterMartinHomes.com 405.880.7354
Beth Peterson
Amanda Meberg
admeberg@gmail.com 405.612.2096
1124 Stoneridge Dr.
Kasey Longan
www.propertyjustforyou.com 405.880.5569
Tina Darr
Cheryl Carpenter Martin
BethPetersonHomes.com BrooksThomasRealty.com GinaKilloughHomes.com 405.880.4370 405.880.3476 405.612.2210 2618 Lyndsey Ct.
Stillyhomes.com 405.697.0045
Candy 22 Yundt OPEN HOUSE Brooks Thomas SUN. JAN.
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Brooks Thomas
CandysHomes.com 403 E Topaz Ave1-3 1-2 Julie Beth 405.742.4525 1101 E Connell Ave 1-2:30 Vicky 6209 W. Canterbury 1-2:30 Tina 2505 S Durham Ct 2-4 Beth 1124 Stoneridge Dr. 12-1:30 3607 S Woodstone Dr 3-4 Julie Julie Julie Bahl Ted Newlin Kasey Longan StillwaterHomeTeam.com TedNewlin.Realtor.com www.propertyjustforyou.comCt 3-4:30 5006 W Germaine Vicky 405.762.3744 405.714.5309 405.880.5569 1902 S Elvin Dr 1-2 Kasey Beth Peterson
Amanda Meberg
admeberg@gmail.com 405.612.2096
6209 W. Canterbury
Julie Bahl
StillwaterHomeTeam.com 405.762.3744
RE/MAX SIGNATURE 114 W. HALL OF FAME, STILLWATER, OK 74075 405.533.3000 | StillwaterSignatureRealEstate.com RealtorMomPro.com 405.880.5569
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Gina Killough
CandysHomes.com 405.742.4525
Dedicated professionals providing unrivaled service. BrooksThomasRealty.com 405.880.3476
CandysHomes.com 405.742.4525
BethPetersonHomes.com BrooksThomasRealty.com GinaKilloughHomes.com 405.880.4370 405.880.3476 405.612.2210 2618 Lyndsey Ct.
Candy Yundt
THE RE/MAX SIGNATURE EXPERIENCE Stillyhomes.com 405.697.0045
Each office independently owned and operated.
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Cheryl Carpenter Martin
CherylCarpenterMartinHomes.com 405.880.7354
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Vicky Jerome
VickyJeromeHomes.com 405.747.7239
1-3
1-2:30
CandysHomes.com Beth 405.742.4525
12-1:30
Tina
Julie
Julie Bahl
StillwaterHomeTeam.com 405.762.3744
Amanda Meberg
admeberg@gmail.com 405.612.2096
Beth Peterson
BethPetersonHomes.com 405.880.4370
packaging will give you your best opportunity for success: spinosad, cyfluthrin, pyrethrins and carbaryl. Please note that most insecticides are broad spectrum, meaning they will kill more than just squash bugs. If chemical control is used, please follow
the label directions carefully to avoid harming bees or other pollinators. Keith can be reached via email at keith.reed@okstate.edu, phone at 405-747-8320, or in person at the Payne County Extension office, located at 315 W. 6th in Stillwater.
Exponential growth through equity capture In previous weeks we covered the first principle of the exponential power of real estate investing, which demonstrated the power of using the cash flows to fund each additional investment. As you acquire more properties and have more cash flow you can accelerate the timeline between acquisitions. Today, we’ll dig in to the second principle, which is the power of capturing equity through refinancing. Just like with your home, you have the ability to refinance investment properties to pull cash out, capturing the equity that collected rents that have built. You may think it would be better to focus on paying off
Retire with Rentals AUSTIN FRUECHTING the mortgage, because then eventually you’d make more by not having a payment. But, I’m going to show you a better alternative. Assuming property values stay close to their historic 3.5 percent annual appreciation, you would have enough equity in just four years to refinance, pull out equity, and purchase a second property with the cash. So, at year four you would have two investment properties. Now at year eight, you could refinance both,
pulling out enough cash to buy two more and then have four rental properties. Wait another four years,
Donna Rhinehart GRI, CRS Realtor Associate 405-612-0509
principle with using all the cash flows to purchase more properties, you could end up with approximately 76 properties at the end of 20 years. If I haven’t convinced you yet, check back next week when we’ll explore the third and final principle. For more information visit www. goodlifeinten.com
Tiffany Aranda GRI, CRS Realtor Associate 405-714-1214
www.stw-realestatepros.com
405-372-5151 Downtown Office - 723 S. Main Street
downtownstw.com
Kyle Bottger Realtor Associate 405-612-6724
Jennifer Oliver GRI Realtor Associate 405-612-4984
Lori Kastl CRS Realtor Associate 405-880-2844
1501 E. SUNRISE
NEW LISTINGS
38205 S 3440 Rd., Pawnee - 320-acres of prime pasture land $705,000 - Tiffany 2415 Trophy Ln. - Karsten Creek Golf 3 bed., 2.5 bath w/office $455,900 - Melissa 3614 Woodstone - NEW CONSTRUCTION 4 bed., 3 bath $398,500 - Donna 3217 W Cypress Mill Ave. - 4 bed., 3.5 bath, office & bonus 2819 sq. ft. $374,000 - Amy 2306 S Bridlewood Dr. - 4 bed., 3 bath, 2-car garage with office $339,900 - Dolores 347368 E 800 Rd., Cushing - 4 bed., 2 bath, 43-acres of pasture/woods/pond $326,000 - Kyle 4904 Oakcrest Rd. - NEW CONSTRUCTION 4 bed., 2 bath $259,500 - Donna 8303 E Airport Rd. - 4 bed., 2 bath, 4.02-acres of SERENITY $178,500 - Jan 2002 W 9th - 3 bed., 2 bath corner lot CLOSE TO OSU $145,000 - Tiffany 5917 Chateau Dr - 3 bed, 2.5 bath ESCAPE TO TRANQUILITY on 2 acres $358,000 - Donna 805 W Franklin - 3 bed, 1 bath close to OSU & Elementary $132,000 - Tiffany 5607 S Mehan Rd, Ripley - 41.6 acres on paved rd to build your dream home $270,400 - Tiffany 5908 W Old Pond Ct - Gated Boulder Creek Add $549,500 - Donna 3823 W Deer Crossing Dr - Pool walk-out basement $995,000 - Donna 101 Fairway Ct - Cimarron Trail Golf 4 bed 3 bath $349,900 - Lori
OPEN HOUSE SUNDAY, JUNE 11TH 1-2:30 PM 3217 W Cypress Mill Ave - $374,000 - Ann
Amy Parsons Realtor Associate 405-714-0882
Jan Lehenbauer Realtor Associate 405-334-6988
Ann Morgan Realtor Associate 405-614-9600
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Cheryl Moody Closing Coordinator 405-372-5151
Melissa Woods Realtor Associate 405-385-2035
Stillwater NewsPress • Friday, June 9, 2017
Beckyteague@hotmail.com
$239,900 • 405-714-2171
erties with mortgages is WAY more than you would make off of just having that first one paid off. If you combine the power of capturing equity along with the first principle of feeding into itself, you can really start to see the exponential power of real estate investing. By combining this
Bringing Buyers & Sellers Together .... Professionally. Jack Allred Broker Associate 405-747-8647
GREAT LOCATION • 2 LIVING, 2 DINING, 3 BEDROOOMS, 2 CAR, SWIMMING POOL 2318 SQFT
erties, or if you don’t tap in to that at all, you could own 100 of one property. Owning 20 percent of 32 properties means you will have 640 percent more equity than having the one property completely paid off. And I guarantee the amount of annual cash flow you could make off of an additional 31 prop-
Dolores Lemon CRS, CRB, GRI Broker/Owner 405-747-7822
24 W Brentwood
OPEN HOUSE SUNDAY JUNE 11TH 1-3
and you can refinance all four and buy four more. Wait another four more years and do it again with all eight and now you have 16. And finally, at year 20 you can do this again and refinance all 16 for a total of 32 properties. So at the end of 20 years you could own 20 percent of 32 prop-
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Stillwater NewsPress • Friday, June 9, 2017
Buyers, homeowners with student debt get break The nation’s largest provider of mortgage money has eased its borrowing rules, allowing banks to create more home loans for first-time buyers and current owners who are struggling with student debt. DEAR MR. MYERS: Is it true that banks will no longer consider a loan applicant’s student-loan debt when deciding whether to approve or reject a mortgage? ANSWER: It’s not true, despite some misleading recent media reports and broadcast commercials to the contrary. But it is true that Fannie Mae, the largest provider of mortgage funds in the nation, made some key changes about a month ago that will make it easier for those saddled with student-loan debt to get a home loan in the future - and perhaps even help their parents, too. Fannie Mae, a quasi-government agency, doesn’t make loans directly to borrowers. Instead, it buys mortgages that independent banks make to consumers, pools those loans with others that it purchases and then sells shares in those pools to private investors. By selling their loans to Fannie, banks get a lump sum of cash that they can use to issue even more mortgages to future borrowers. Roughly half of all
cost of the educational loan will stay the same or even go up. The change makes it easier to qualify for a mortgage because it essentially lowers the bank’s loan underwriting requirements. Another 8.5 million Americans could be million student-loan outstanding home helped by Fannie’s borrowers who loans in the U.S. decision to cut the have reduced their today are owned by cost of a current monthly payments by homeowner’s “cashFannie Mae and a stretching them out similar company, out” refinancing, proover a longer period Freddie Mac. vided that the extra through the governAbout 43 million money that’s taken ment’s “income-drivAmericans owe a based on the owner’s en repayment” combined $1.26 trilequity will be used to program, commonly lion in student-loan pay off student debt. referred to as “IDR.” debt. Monthly payThat’s good news for Fannie’s revamped grads who have been ments on those loans rules allow banks to make it difficult for able to swing the consider the student a first-time buyer to purchase of a home borrower’s lower IDR over the past few save for a down payment, much less gain monthly payment years and now want (rather than the pre- to refinance to repay a lender’s approval viously higher one) for a new mortgage. their educational when reviewing a A key change in loans, as well as for mortgage application, parents who want to Fannie Mae’s new policy involves the 6.5 even if the long-term refinance to pay their
About Real Estate
DAVID MYERS
kid’s college debt. A little-noticed benefit of Fannie Mae’s policy change also will aid current or former students who get help to meet ongoing non-mortgage debt, such as credit card bills or car payments, from their parents, grandparents or others.
Lending institutions that sell their loans to Fannie will no longer need to consider a student or grad’s non-mortgage debt when considering a home-loan application, provided that the payments have been made promptly for each of the previous 12 months.
To be sure, the new rules are complicated, and not every student-loan debtor will qualify. Call a few local lenders and mortgage brokers for help. You also can contact Fannie Mae’s Resource Center 800-232-6643 or visit www.fanniemae.com.
OPEN SUNDAY 1-3 PM
804 Tower Park Dr 3 bedrooms / 2 baths 1,873 sq ft $205,000 Rhonda Plake CRS, GRI, MRP Realtor 405-385-2478
703 Jackson, Perry, OK Beautiful Craftsman Style Home on two lots located in Perry, Oklahoma. Built in 1920, this historic two story home features 3 bedrooms, 1.5 baths, 2,484 sq. ft. of living space, unfinished basement with pantry and laundry areas, central HVAC and hardwood floors. NEW PRICE $149,900
CALL Personalized Service NOW! Professional Results! Larry Souders Realtor Associate 405-780-3265
Tommie Eberle Broker/Realtor®, GRI 405-714-2687
Natural materials make a home inviting ottoman upholstered in a worn old rug. Maybe that’s why I love to weave natural Interior spaces materials into my that are too fussy make me uncomfort- home. They provide Mother Nature’s able. I think when restorative palette you really live in a home, there needs to of cream, tan and be a bit of disorder. A brown; they’re beaumessy stack of books tifully imperfect and next to your reading a wonderful backdrop for more refined chair in the living treasures you want room floor. A cat to spotlight. asleep on the duvet Sometimes people at the bottom of your bed. A piece of furni- get confused about the difference beture with a story to tell, like a chest with tween wicker and chipping paint or an rattan. The quick anBy Mary Carol Garrity Tribune News Service
swer is that wicker is not a material, but an ancient technique for weaving natural materials like willow, rattan and bamboo into furniture or baskets or whatever. Wicker furniture can be made out of any sort of natural or synthetic material. Rattan, a vine that grows in the shape of a pole about three inches in diameter, is a strong wood and can be used to construct furniture, from outdoor chairs
to hutches and bed frames. Bamboo looks similar but has a hollow core so is not as strong and durable as rattan. I love them both. They are at home anywhere, from a seaside cottage to a mountain lodge, in formal spaces and in those that are more relaxed. Woven wooden blinds also add delicious texture to a room. When she was decorating her little cottage in Atchison,
my friend Cynthia used bamboo shades to bring a bit of rustic charm to the spaces. I like how they contrast with the more formal furnishings in the room. I adore lovely old oriental rugs and have a patchwork quilt of them in my
home. But underneath it all, natural fiber rugs like sisal or sea grass are a must-have. They wear like iron, are forgiving when stained and provide a lovely base for a room. A common mistake people make when buying area
OPEN SUNDAY 2 Crestwood Circle Becky Blessen 1-3 pm
The do’s and don’ts of selling a home buyers view this as a are looking for ideal vestment dollars, this big ticket item. The places to place your in- is a strong choice. fact that your home When it comes time has a new roof will be to prepare a home a selling feature. for sale, there are a Repaint your home’s number of quick and exterior. Typically affordable fixes that every five to 10 years can help seal the deal, is a great time to re2106 WALKING TRAIL - 4 bed / 3.5 bath/ 3 car garage while some so-called paint a home. Exterior with storage. Original owner - custom built by Ron Walker. improvements may fixes like replacing sidHome features surround sound, storm shelter closet, 2 sink a sale. ing or repainting can fireplaces, lots of built-ins. Beautiful outdoor landscaping When it’s time to go a long way. includes a rock fireplace, lighting, waterfall. Many more put your home on extras .......................................PRICE REDUCED $659,900 DON’T: the market, there are Install expensive some definite do’s and finishes or fixtures for don’ts. selling purposes. Many DO: times potential buyers Give your home a will want to add their MULTI FAMILY PROPERTY - 1 Triplex, 2 Duplexes plus 14 fresh coat of paint. own personal touch as small storage units in Perkins...............................$245,000 Freshly painted walls far as improvements. SOLD IN 1 DAY - 1711 N LINCOLN - 4 bed........$233,000 SOLD are one of the top sellForget the power of SOLD 2117 ARROWHEAD - 3 bed + study/ 2 bath.......$149,900 ing features for poten- home staging. Home tial buyers. staging is one of the Make minor repairs. most powerful selling Many homeowners tools in which a propsee even minor repairs erty is staged or styled as worry and work. in order to be presentInsurance and eal state Kennel pets during ed in its best possible Serving Stillwater Since 1950 showings. Many polight. BARBARA HOUCK - REALTOR - 747-8804 tential buyers will not Forget the selling KENT HOUCK - REALTOR - 372-7060 JOHN GAGE - REALTOR - 612-6068 purchase a home occu- power of kitchens and BARBARA HOUCK pied by a pet. bathrooms. Kitchens BROKER/OWNER 372-5343 x130 30+ years of experience Consider replacing and bathrooms still www.houckagency.com • 8 MAIN PLACE/Ste. 2 • DOWNTOWN STILLWATER a roof. Many potential sell homes, so if you
rugs is to get a size that’s too small. Understandable when you consider how much a really good rug costs. But natural fiber rugs are so affordable you can use them to cover the entire room without breaking the bank.
6323 E. 6th St Mike 1-3 pm
By Cathy Hobbs Tribune News Service
®
®
®
OPEN SUNDAY 1-2 PM
COMMERCIAL PROPERTY 2929 S PERKINS RD., STILLWATER NEW PRICE 10.46 ACRES M/L
2319 S. SILVERDALE $339,000 311 S Lewis (duplex) 1003 E 80th (10 acres) 1020 S Rose Rd 814 N Burdick (like new) 2319 S Silverdale 127 S Main, Perkins 1804 Sunrise
Freeman Dilbeck BROKER/Owner 405-612-4429
Prime commercial location on the northeast corner of 32nd and Perkins Rd. Property consists of 34 full hook-up RV spots, a 50’ X 100’ (m/l) metal shop building, and a 1515 square foot (m/l) 3 bedroom home with a full basement. Billboard signs on property provide income as well.
$84,000 $100,000 $130,000 $165,000 $339,000 1549 sq ft $225,000
Trent Hawkins REALTOR Associate 405-332-6911
SOLD FOR SALE FOR SALE PENDING FOR SALE FOR LEASE PENDING
Trent Freeman Linda Linda Linda Freeman Trent
Linda Klinger, GRI REALTOR Associate 405-612-0454
THE DILBECK AGENCY
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104 E McELROY 405-372-2792 DilbeckAgency.com
Stillwater NewsPress • Friday, June 9, 2017
r e
520 S. Knoblock St | 405-372-8326 www.teamstillwater.com
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PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act, which makes it illegal to advertise “any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status or national origin, or intention to make any such preference, limitation or discrimination.�
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Stillwater NewsPress • Friday, June 9, 2017
This newspaper will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.
STEEPLECHASE FARMS OPEN HOUSE SUNDAY 2 - 4
Beautiful, Must See 4 Bedroom 2 Bath on 1.10 Acres Granite, Walk-In Closets, salt water pool, large storage bldg. 11422 Derby Court, Perkins, OK $249,900.00 FSBO - Call 918-348-4633
Real Estate Rentals
Homes
ATTENTION! NOW LEASING for June 1st & August 1st, 2017 Move-In Dates
Homes
Nice 2bd, 1bath corner lot, fenced in backyard. 702 Mary Call 580-724-3288
Very nice 1 bedroom, 1 bath cabin. All bills paid $750/month 405-372-3696 Nice 2 bedroom, 1 bath,in a quite neighborhood, stove, washer, dryer, & carport. Call 742-2897
We also have Units Available for Immediate Move-In! 1, 2, 3, 4, and 5, Bedroom Homes, Apartments and Duplexes All over Stillwater and surrounding areas. We also have places in the country surrounding Stillwater with optional land for Horses. Ask about our pet policy! Go to our web-site at campbell mgmt.com to check “ Availability�. Call 405-372-9225 ext 0 to schedule a viewing!
710 N. Wildwood Acres Dr. 4 bedroom, 3 bath, 1.5 acres, east of Stillwater. Washer, dishwasher, fridge. $1,500.00. Call 405-612-0447
Apartments
Close to campus but away from crowds and noise. 1 large loft bedroom, contemporary floor plan. All appliances, spacious but cozy. Available August 1st. References. 405-612-8960
Small 1 bedroom apartment, brand new, nice, quite area close to campus & downtown $475/month. 405-377-8823 Henneberry Properties at Carleton Crossing, now leasing studio apartments, townhouses, two and three bedroom units. Call today 405-372-7395.
Apartments
at Stillwater
1 AND 2 BR Apts with FREE Amenities AND Golf Privileges!!
405-372-9910
LindseyManagement.com
Good to the Last
WORD
Professionally Managed by Lindsey Management Co., Inc.
Oak Park Village 2903 N. Perkins Rd. 2 bedroom 1 bath apartments only $510.00 per month, $300.00 deposit. Swimming Pool and Laundry on site. Call Henneberry Properties 405-743-4266
Commercial/Business Beautiful, huge 3 & 4 bedroom duplexes available 405-707-7277
www.cowboyproperty.com
Apartments
1302 1/2 S. Duncan 1 bedroom, designated off street parking, private entrance, furnished, newly repainted & recarpeted. All bills paid $475/mo. 377-2136 or 338-8816 .
at Stillwater
NOW LEASING! 1 AND 2 BR Apts with FREE Amenities AND Golf Privileges!!
405.707.7400 LindseyManagement.com Professionally Managed by Lindsey Management Co., Inc.
Henneberry Properties. Studio, One, Two and Three bedroom apartments, Townhouses, Duplexes and Rent Houses. Call today 405-743-4266
OFFICE SPACE: Adjacent to County Courthouse. Fully furnished/staffed front reception area, as well as private reception adjoining office; access to conference room, library and kitchen; phone, copier and fax machine access. Contact hellis@ellislaw.us.
Duplexes
2 bedroom very energy efficient, very nice, quiet neighborhood. $600/mo. smoking, no! 1104 S Range Rd. If no answer Please call back. 714-2443
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Fannie takes friendlier approach to debts above the 45 percent debt ratio threshold” who currently get rejected, he said. Now they’ve got a shot. That doesn’t mean everybody with a 45 percent-plus DTI KENNETH R. HARNEY ratio is going to get approved under the new policy. As an “qualified mortgage” higher statistical rule sets the safe risk of falling behind applicant, you’ll still need to be vetted maximum at 43 on your mortgage by Fannie’s autopercent, but Fannie payments. mated underwriting Mae, Freddie Mac Using data spanand the Federal ning nearly a decade system, which exHousing Adminisand a half, Fannie’s amines the totality of your application, tration currently researchers anahave exemptions al- lyzed borrowers with from the down payment to your inlowing them to buy DTIs in the 45 percome, credit scores, or insure loans with cent to 50 percent loan-to-value ratio higher ratios. range and found and a slew of other Studies by the that a significant indices. The system Federal Reserve and number of them weighs the good and FICO, the credit actually have good the not-so-good in scoring company, credit and are not your application, have documented prone to default. and then renders a that high DTIs doom Lenders are weldecision on whether more mortgage apcoming the change. you meet the compaplications – and are “It’s a big deal,” viewed more critical- says Joe Petrowsky, ny’s standards. Fannie’s change ly by lenders – than owner of Right Trac may be most imany other factor. Financial Group, And for good reason: Inc. in the Hartford, portant to home buyers whose DTIs If you are loaded Connecticut, area. now limit them to down with monthly “There are so many just one option in debts, you’re at a clients that end up
The Nation’s Housing Column
OPEN HOUSE SUNDAY 1-3PM
the marketplace: an FHA loan. FHA traditionally has been generous when it comes to debt burdens – it allows DTIs well in excess of 50 percent for some borrowers. But FHA has a major drawback in Petrowsky’s view. It requires most borrowers to keep paying mortgage
insurance premiums for the life of the loan -- long after any real risk of financial loss to FHA has disappeared. Fannie Mae, on the other hand, uses private mortgage insurance on its low down payment loans, the premiums on which are canceled automatically when the principal balance drops
to 78 percent of the original property value. Freddie Mac, another major player in the market, also uses private mortgage insurance and sometimes will accept loan applications with DTIs above 45 percent. Ken Harney’s email address is kenharney@earthlink. net.
We’re not your typical, cookie cutter lender... Contact Austin Pollard at 405-377-0300 TODAY!
...The bank with a personal focus and a global perspective 232 S Main St, Stillwater, OK 74074 | 405-377-0300
Open Sun 1-3
METRO FIRST REALTY STILLWATER
1109 W. Stonecrest Hwy 177 North to Richmond, west to Nancy Lee. Curves into Stonecrest.
Ashley Snow 405-612-4931
2611 S. Oxford Drive
Desirable home tucked away on a sweet cul-de-sac in Brighton Addition. Brick home with covered patio on the east, and a privacy fenced back yard. Energy-efficient windows recently installed to replace the original windows. Four bedrooms, two living areas. Dining room is large enough for your table, etc., or you can use it as an office or music room. Kitchen eating bar is open to family room and breakfast area. Sink in utility room. Master bath with two sinks, separate tub and shower. Updated interior and exterior paint; plus the furnace and A/C, water heater, garage door and roof all recently replaced. School bus picks up for Sangre Elementary. $205,000 See more of this home at www.WeLoveSellingStillwater.com
Page Provence, CRS Broker Associate (405) 612-0194
Fisher Provence, REALTORS®
377-1000
“WE’RE LOCAL, WE’RE GLOBAL”
A7
3 bed - 2 bath - Study NICE BACK YARD KITCHEN ISLAND w/breakfast bar Storm shelter ENERGY STAR HOME
…we get you moving!
Stillwater NewsPress • Friday, June 9, 2017
WASHINGTON – It’s the No. 1 reason why mortgage applicants nationwide get rejected: They’re carrying too much debt relative to their monthly incomes. It’s especially a deal-killer for millennials early in their careers who have to stretch every month to pay the rent and bills. But here’s some good news: The country’s largest source of mortgage money, Fannie Mae, soon plans to ease its debt-to-income (DTI) requirements, potentially opening the door to home purchase mortgages for large numbers of new buyers. Fannie will be raising its DTI ceiling from the current 45 percent to 50 percent, as of July 29. DTI is essentially a ratio that compares your gross monthly income with your monthly payment on all debt accounts – credit cards, auto loans, student loans, etc., plus the projected payments on the new mortgage you are seeking. If you’ve got $7,000 in household monthly income and $3,000 in monthly debt payments, your DTI is 43 percent. If you’ve got the same income but $4,000 in debt payments, your DTI is 57 percent. In the mortgage arena, the lower your DTI ratio, the better. The federal
Yost Rd.
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Stillwater NewsPress • Friday, June 9, 2017
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FSBO 19. 1501 E. Sunrise 1-3 ...............................................FSBO
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Keller Williams 18. 4805 Hunters Cr. ................................................Jessica SATURDAY - 10-12 SUNDAY - 1-3
gate Dr .
Britton Ct. B Dr. ritton Greenbriar Cr. Dr. Au d Ma ene D rieD r. r. Greenvale Ct. Ct. side C rook
Golf Dr.
Ranch Av.
Heritage Realty 17. 24 W. Brentwood 1-3 ..........................................Becky
Real Estate Professionals 10. 3717 W. Cypress Mill Ave. 1-2:30 ....................... Ann Fisher Provence 11. 1121 S. Western Rd. 1-3 ...................................... Karin 12. 2611 S. Oxford Dr. 1-3 ..........................................Page 13. 2137 Sunset Dr. 1-3 .......................................Shannon
Stillwater Municipal Airport
16
Lynn Ln.
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Benjamin
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EXP Realty 16. 804 Tower Park Dr. 1-3 ...................................Rhonda
Coldwell Banker Team Stillwater 8. 2 Crestwood Cr. 1-3 ...............................................Becky 9. 6323 E. 6th Ave. 1-3 .................................................Mike
Husband Pl. Northgate Dr.
Stonecrest Ave.
Falls Dr.
Metro First Realty 14. 1109 W. Stonecrest 1-3 .................................... Ashley
Park Pl. Tower Park Dr.
Richmond Hill Ct.
nd St. Husba
Richmond Rd.
Dilbeck Agency 15. 2319 S. Silverdale 1-2 ......................................... Linda
Ct.
yon
Can
Amethyst Ave.
Stonecrest Ct.
Century 21 Global 7. 4615 Haley Ln. 1-3 ................................................. Oscar
1
Chateau Dr.
Topaz Ave.
Chateau Pl. Peaceable Acres Rd.
• All Open Houses are Sunday unless otherwise indicated.
RE/MAX Signature 1. 403 E. Topaz Ave. 1-2............................................... Julie 2. 1902 S. Elvin Dr. 1-2 ...............................................Kasey 3. 1101 E. Connell Ave. 1-2:30 ................................. Vicky 4. 2505 S. Durham Ct. 2-4 .......................................... Beth 5. 3607 S. Woodstone Dr. 3-4.................................... Julie 6. 5006 W. Germaine Ct. 3-4:30 ............................... Vicky
Burris Rd.
Burris Rd. 177
Week of Sunday, June 11, 2017
• Open Houses may be cancelled in case of inclement weather. If you have questions, please call the hosting REALTOR®.
Jardot Rd.
Perkins Rd.
Yost Rd.
7