News Press Stillwater
REALESTATE W e e k ly
August 11, 2017
32
Percentage of ultra-high-net-worth individuals will invest in cross-border real estate deals, within the next two years.
Your best source for weekly real estate news and listings for Stillwater and surrounding communities 415 Collins Ct. - $149,900 - Come discover this darling, clean, brick home on a quiet cul-de-sac. It’s a “Just Right” size, just under 1400 S.F. with a large living room, three bedrooms, two full bathrooms and a two-car garage. Granite counter tops in the kitchen, dining area open to living room and kitchen. This home has been well-maintained and will make your heart sing! 1111 S. Springdale Dr. - $214,900 - This attractive 3 bedroom, 2.5 bathroom home has many updates in the past 5 years. Granite countertops, new dishwasher, stainless sink, disposal, 3 patio doors and 2 windows replaced. Deck, hardy-board siding, roof gutter, hot water tank replaced. There is a sprinkler system and a storm shelter. Pet area on deck can be removed if buyer does not need.
415 Collins Ct.
5215 W. 7th Ave. - $325,000 - Don’t pass up the opportunity to see this well-maintained home on the SW side of Stillwater. Three bedrooms, 2.5 bathrooms home has an open concept. This home has granite countertops, fireplace, central vacuum system and much more. Neighborhood has access to Stillwater Country Club Golf Course.
“Opening Doors Since 1984”
Fisher Provence Realtors Inc.
1111 S. Springdale Dr.
www.fprealtors.com 405-377-1000
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se Hou .m. n e Op y 1-3 p da Sun
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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.
5215 W. 7th Ave.
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Stillwater NewsPress • Friday, August 11, 2017
Dealing with condition of area trees An increasing number of calls are coming into the Payne County Extension office about the condition of our area trees. Specifically, clients are seeing lots of browning and early leaf drop. While we can’t say for certain what might be causing a problem with a specific tree, here’s a general summary of what we are seeing and what, if anything, you need to do about it. • Our early season weather seems to be the biggest contributor to the symptoms we are seeing now. Think back a few months: We had a very early green-up with tender leaves opening up earlier than normal. Then we transitioned into a long, cool, damp period. This was the perfect formula for leaf spot fungal diseases to move in on a variety of plants, not just trees.
Home Grown KEITH REED A close inspection of leaves early in the season could have identified the disease-causing culprit, not that correct ID is of critical importance since treatment is only rarely suggested anyway. However, by this time of year, most of the diseases have run their course and the only thing that remains is a browning, tattered leaf. This makes is more difficult to determine the exact cause of the problem. The good news is this should not cause any long term harm to an otherwise healthy tree. • Dutch Elm Disease (DED) continues to take out
a few elms every year and this year will probably be no exception. However, just because an elm is turning brown does not automatically mean DED is the cause. The leaf spot diseases mentioned above plus the presence of leaf-chewing insects can also cause the decline. If your tree leaves are gradually declining all over the plant, it is nothing to be concerned about. Of greater concern would be when one or two branches turn completely brown in a short period of time, with the adjacent branches taking on a wilted appearance. DED kills
trees by clogging the vascular system. If you envision the water supply be choked off to increasingly large parts of the plant, you can better understand the symptoms. If you see signs of possible DED, always look carefully at the condition of the branches before jumping to conclusions. Elms are weak wooded trees and are easy damaged with broken or twisted limbs all too common. • While we have been spared from this for the most part this season, storm damage from high winds are a common contributor to browning of small groups of leaves. Similar damage also hap-
pens occasionally from twig girdler insects. Once again, this is nothing to worry about for the long-term health of the tree. • Construction damage also tends to show up this time of year as the stress of summer settles in. Examples are almost everywhere. If we see a mature tree in sudden decline, the first thing we look for is recent disturbance near the root zone. Sadly, this is an issue that can only be prevented; there is no “cure” once the damage is done. If you have important trees in your landscape, talk to a professional arborist or contact us well before you begin construction. For more informa-
tion on this or any other horticultural topic, you can contact Keith Reed, the Horticulturist in the Payne County Extension office. 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.
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OPEN SUNDAY 1309 S. Chester Connie Stokes 2-4 pm
Beverly Carter Beverly Carter 405.743.9618 405.743.9618
Sandy Blankinship Sandy Blankinship 405.269.9523 405.269.9523
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Alane LeGrand Alane LeGrand 405.747.6950 405.747.6950
Judy Kasso Judy Kasso 801.824.8166 801.824.8166
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Oscar Fortune Oscar Fortune 405.747.6042 405.747.6042
Jeff Grizzle Jeff Grizzle 405.714.4037 405.714.4037
David Heppel David Heppel 405.269.6907 405.269.6907
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3016 Wellington Paulette Kraybill 1-3 pm
520 S. Knoblock St | 405-372-8326 www.teamstillwater.com
Be prepared, and do not rush Retire with Rentals AUSTIN FRUECHTING
ted to seeing it through? These are just some of the questions you need to be able to confidently answer to make sure you have prepared. Ignorance is not bliss. It is why people fail. Even now, I am
continually learning and refining my process and systems in order to be as accurate as possible in property assessments. Though no system will ever be perfect, it is not difficult to minimize the variance within a small margin where your
mistakes won’t turn your success to a failure. The key is to not rush and take your time educating yourself so that you minimize the unknowns. Not only will you be more prepared, but you’ll be able to confidently act when the
right opportunity comes along. Austin Fruechting retired in seven years by investing in rental properties. For questions, comments, and to learn more about how you can achieve the same in ten years or less visit www. goodlifeinten.com
all that managing outcome of every a property entails possible variable and are commitwith 100 percent assurance, there is a lot you can do to minimize risk. The key is to be as prepared as possible before taking the Dolores Lemon CRS, CRB, GRI plunge. Broker/Owner Do you know how 405-747-7822 to protect yourself and your investment from a legal standpoint? Do you have sufficient marDonna Rhinehart ket information? GRI, CRS downtownstw.com Why is the deal Realtor Associate 405-612-0509 you’re considering the right deal? Are you factoring exBringing Buyers & Sellers Together .... Professionally. penses correctly? Are you factoring in deferred mainteJack Allred nance and capital 1807 S. Ashton- NEW CONSTRUCTION BERRY CREEK - $387,700 - Donna Broker Associate 405-747-8647 improvement costs 4711 Deerfield Dr- One of a Kind 63 acre Estate-$4,583,000 - Dolores correctly? Do you know how much 205 SW 2nd, Perkins- 2 bed 1 bath Update & Move in Ready-$75,000 - Lori cash you need in 11422 Derby Ct- This can be a Quick Close 3 bed 2 bath-$249,900 - Lori reserves to cover those things? Do Jennifer Oliver 5505 N Country Club Rd - Horse lovers dream 40 acres/barn/living qrts - $462,000 - Tiffany you have your team GRI 2008 Celia St - 3 bed 2 bath in a great neighborhood - $219,500 - Amy Realtor Associate in place? If your 405-612-4984 plan is to manage 1004 Stoneridge Dr - 4 bed 2 bath in Crosswinds Add - $245,000 - Tiffany the properties 3619 S Fountain View Dr - 4 bed 2.5 bath in Woodland Trails Add - $319,900 - Amy yourself, do you have a solid lease 2113 Oak Trail - 4 bed 3.5 bath 3969 sq ft POOL - $595,000 - Tiffany/Dolores agreement ready 2318 W 10th - 3 bed 2.5 bath 2456 sq ft on a quiet street - $229,500 - Donna to go? Do you know Lori Kastl CRS Share Coupons with friends and family! 4418 Jenna Ln - New Construction on S. Fairgrounds $227,900 - Lori Realtor Associate
www.stw-realestatepros.com
405-372-5151 Downtown Office - 723 S. Main Street
Tiffany Aranda GRI, CRS Realtor Associate 405-714-1214
Kyle Bottger Realtor Associate 405-612-6724
NEW LISTINGS
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OPEN HOUSE SUNDAY AUGUST 13TH 2415 Trophy Lane - $439,900 - Melissa 1-3 pm 11422 Derby Ct, Perkins - $249,900 Lori 1-3 pm
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Cheryl Moody Closing Coordinator 405-372-5151
Stillwater NewsPress • Friday, August 11, 2017
Maybe you’ve been following along and you are convinced that investing in real estate can be the quickest way to financial freedom. You’re gung-ho and ready to dive in. If so, I’m excited for you. But, I’m also going to offer words of caution: Proceed slowly. One of the worst mistakes you could make is to rush into an investment deal before you have spent sufficient time researching and have a full plan and full financials laid out. If you try to force a deal without having a plan in place, you are putting yourself in a position to be unpleasantly surprised by any number of factors. Haste and ignorance can easily ruin your future success. People that rush without full knowledge can easily be caught off guard by major unplanned expenses. Those expenses can turn what they thought would be a profitable investment into a failure. Though it’s impossible to predict the
Stillwater NewsPress • Friday, August 11, 2017
Most betrothed homeowners don’t need a ‘prenup’ A property owner who plans to marry someone who isn’t faces some important issues. DEAR MR. MYERS: I am getting married in October. I bought my own home in 2013, but my fiance rents an apartment. After we get married, will I have to put his name on the title to my home? Also, is a prenuptial agreement necessary? ANSWER: You have no legal obligation to add your groom’s name to the title of the home that you bought four years ago. You don’t have to ask him to sign a “prenup,” either, though that’s often more an emotional issue rather than a financial one. You certainly have the legal right to add your sweetheart’s name to the title of ownership of your home, whether it’s before or after the wedding date.
or financial planner. *** DEAR MR. MYERS: I recently rented a new apartment and promptly replaced the lock on the front door. The landlord was OK with that, but makes much less Doing so will indemanded that I money or has much provide him with stantly give him a more debt, or if the half-interest in the a duplicate key. Is other is financially property, but no this legal? responsible for alilegal responsibility ANSWER: Probmony or child-supto help make the ably. Most city and mortgage payments port payments from county rent laws a previous relation- allow landlords or unless his name is ship. added to the origiproperty managers People who are nal mortgage conto insist on obtaintract or the house is part of a famiing a duplicate key refinanced in both of ly-owned business to a tenant’s dwellalso sometimes your names. ing. insist on a prenupSeparately, you These laws are probably don’t need tial agreement, designed to protect hoping to reduce the property owners and a prenuptial agreement - a fancy legal chance that a posrenters alike. For sible divorce won’t term for a contract example, if there’s a that’s signed before jeopardize a family gas leak or a water enterprise that may pipe that bursts inthe wedding nuphave been around tials - to spell out side an apartment how the couple’s as- for decades. but the tenant isn’t Discuss your real home, the duplicate sets would be dividestate and other ed if the marriage key can be used to financial concerns ends in divorce. allow an emergency Most lawyers say with your betrothed, repairman to access plus a good attorney the unit immediatethat prenups are not needed unless one person is marrying another who
About Real Estate
DAVID MYERS
ly and fix the problem - thus limiting damage to both the apartment and the renter’s personal possessions. More important, the duplicate key can be used to allow paramedics, firefighters or the like
to quickly access the home and render aid in a life-threatening situation. The landlord cannot, however, use the key to enter your home without a good reason. In most areas, the law requires at least
Wheelchair Accessible #34 Windsor Circle
Very well maintained, light and bright garden home. Ideal spot for you or your loved ones. Windsor Circle, Westpark addition, custom-built by Rusty Kraybill. One owner, custom home that is ACCESSIBLE if needed. Wide doorways, grab bars, no steps to maneuver, anywhere. Two large bedrooms, and two very ample bathrooms with a huge master closet. Master bath shower has a built in seat, separate bathtub. Kitchen with corian countertops, pantry, and a vent hood that exhausts to the outside. All appliances stay. Smaller yard, fenced. No HOA fees. Excellent condition. This could be the one you have been waiting for. $175,000
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”
OPEN HOUSE · 2–4PM
623 W. 6th Ave., Stillwater, OK • 377-1213
3602 E 46th - 4 Bed / 4.5 Bath - $369,500
3701 WEST FOREST TRAIL CT. 4 Bed / 3 Bathroom Woodland Trails Subdivision $252,500 Call 405-762-6160 for a showing
Real Estate
703 Jackson, Perry, OK Unique living opportunity with an easy commute to Stillwater. This 1920 home has original hardwood floors throughout, high ceilings, built-in cabinetry, many original light fixtures, and a bathroom with an oversized tub and subway tile. This home has a yard large enough for a significant garden, spacious rooms, fireplaces on both floors, and a full basement. New Price $136,900
This 4 Bed 4½ bath home is completely remodeled sitting on 2. 34 acres in the Stillwater school district with that country feeling. This home has REALLY been done right w/new electrical wiring throughout, plumbing, New High Efficiency Heating/ Cooling 5 ton Heat Pump, sheetrock, insulation and Custom kitchen cabinets w/ Granite counter tops, stainless steel Farm Sink, new stainless appliances, wood flooring crown molding, new roof, and so much more. Three large bedrooms have their own private baths. Multi-Level deck w/access from the upstairs bedroom and the main living area. This home features an open floor plan. The hard wood flooring and crown molding in the living room, dining and kitchen accent the stone fireplace. Serene setting with the freedom to make this your forever home.
Stonehenge Realty
405-334-5737
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a 24-hour written notice to enter in non-emergency situations, such as to make an inspection or to replace a wornout carpet. Contact your local rental board or similar agency for more details.
514 E. Greenbriar Circle Stillwater, OK 74075-1634
Frank Lewis 405-762-6160 Pinnacle Sales Award Winner
MLS
REALTOR
®
EQUAL HOUSING
OPPORTUNITY
1823 S. Perkins Road • 533-2999 Ruby O. Schneider Broker/Owner Cell: (405)880-3952 ruby@stonehengerealtystw.com
Considering home improvement debt?
Wick
Wick A &
ssociates
R E A LT Y
$35,000 in credit card debt. I owe $25,000 on my home, and I was thinking about taking out a loan against my house to pay off the credit cards. Is this a good idea? – Mike they sell solar pan- scaling things up in Dear Mike, els, but it doesn’t my scenario. You’re I would never adjustify going into not feeling the risk vise anything like debt. right now because this, unless it’s to You told me we’re talking about avoid bankruptcy. you have around $27,000 instead of Here’s the problem $80,000 in savings millions. with that kind of right now. Why not This move plan. Most people just write a check? wouldn’t bankrupt who do that kind of Let me ask you a you, but wealthy thing don’t change question. What if people don’t do the their financial habyou could borrow kind of thing you’re its. In fact, they $10 million at one talking about. Eiend up with a new percent interest and ther pull the money mortgage and new put it in the stock out of your savings credit card debt market? Would you account and buy the somewhere down do that? Of course, panels, or don’t buy not. It would be them at all! —Dave way too risky, right? Basically, Problem plan we’re talking about the same kind of Dear Dave, thing. I made you I make $48,000 feel the risk by a year, and I have
Dave Says
DAVE RAMSEY
the line. You need to start building a track record of paying off debt. Cut up the credit cards, slash your spending, and start living on a tight, written, monthly budget. Prove to yourself
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2106 WALKING TRAIL - 4 bed / 3.5 bath/ 3 car garage with storage. Original owner - custom built by Ron Walker
For Lease
One Bedroom 228 1/2 South Lowry • $350 105 W Matthews • $450
1108 S. Main • Stillwater, OK
Two Bedroom 306 S Ramsey • $700 519 S Stanley • $900
1000 S. Canyon Road
Three Bedroom 1101 S Gray • $950 1810 W Admiral • $850 802 S Adams • $1200 519 S Stanley • $900 131 W Elm • $1050
5 Acres with water well
$39,500
Mobile home ok Possible owner finance Owner Realtor
www.wick-realty.com
2324 W. 7th Suite 4
Four Bedroom 923 W 10th • $1200 143 S Redwood • $2000
1718 W Arrowhead Pl • $1400
1223 W Preston • $1200
Your Home Could Be Featured Here. Call Barbara Today!
MULTI FAMILY PROPERTY - 1 Triplex, 2 duplexes plus 14 small storage units in Perkins...............................................$245,000 SOLD IN 1 DAY - 1711 N LINCOLN - 4 bed...............$233,000 SOLD 2117 ARROWHEAD - 3 bedSOLD + study/ 2 bath..............$149,900
Insurance and real estate
Serving Stillwater Since 1950
BARBARA HOUCK - REALTOR® - 747-8804 KENT HOUCK - REALTOR® - 372-7060 JOHN GAGE - REALTOR® - 612-6068
BARBARA HOUCK BROKER/OWNER
30+ years of experience
372-5343 x130
www.houckagency.com • 8 MAIN PLACE/Ste. 2 • DOWNTOWN STILLWATER
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CALL FOR MORE INFO
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1223 W. Preston • $135,000
372-0868
Got Something to Crow About? Stillwater
Hard to find 4 bedroom 3 bath home in a quiet residential neighborhood. Huge deck in back for entertaining. Updated kitchen and baths. Terrific locations near Boomer Lake and OSU. Lease rate $1200/month.
MLS
matically over the next six months. If you can knock out half of it in a year, you can take care of the other half in another year or less. Then, you wouldn’t need a second mortgage! —Dave
Send it to: readers@stwnewspress.com for inclusion on Your News
For Sale or Lease
Professional Property Management Professional Real Estate Services
that you’re not going to take out a mortgage and turn around and run up a bunch of new credit cards. I want to see you not take on any new debt and reduce that $35,000 credit card bill dra-
Stillwater NewsPress • Friday, August 11, 2017
Dear Dave, I’m debt-free except for my home, and I’m considering having solar panels installed on the roof of the house. It would cost about $27,000. I have $80,000 in savings, but the company doing the installation will finance it all for just one percent interest. It’s almost like free money. My electric bills average around $310 a month, and I thought this would be a good way to save money in the long run. What do you think? – Michael Dear Michael, If you have to finance the project, my answer is no. My guess is the break-even analysis you’re trying to give me is the sales pitch your solar panel company & A s s o c i agave tes R E A LT Y you. That’s how
4UJMMXBUFS
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2822 Mark Cir. 3 BR/2 BA 1,200 sq ft. Manufactured. Built in 2012, Southern built home, 1200 sq ft, 10'x10' covered porch, large master w/ garden tub and duel sinks, rocked bar in kitchen, comes with stove, dishwasher, and 1 fridge. asking $39,000 OBO. Open to all and any offers, MAKE OFFER! For Sale by Owner $39,000. call or text! Call (580) 210-9258
Good to the Last
Stillwater NewsPress • Friday, August 11, 2017
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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.” 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.
House for sale by owner 3 bedroom, 3 bath located within walking distance just south of OSU. Wood floors through out, storm windows, Granite, new appliances,. 2000 square foot. Call 405-714-5876 or 405-564-3311
Real Estate Rentals
Homes
3 Bedroom near 6th & West, clean, central h&a, nice kitchen & appliances, GE w&d, ceiling fans, lawn care included, 11-minute walk to OSU. 377-0182, leave message
Homes
2- Masters $1200/mo 1 block from campus. OR fourplex $275/mo. 4 miles east of campus. deposit required. references. 405-564-4683
CollegeTown Real O-State LLC Houses, Duplexes, & Apartments for Lease Immediate occupancy
FOR LEASE: “Available now!! 6521 W. 44th. Four bedroom, 2 1/2 bath on small acreage. Call Dilbeck Agency 405-612-4429
One Bedroom 228 1/2 S Lowry $350 105 W Matthews $450
Very nice 3 bedroom cabin for rent. $1,000/month All bills paid 405-612-4126
Two Bedrooms 306 S Ramsey $700 519 S Stanley $900 221 E Miller $750 Three Bedroom 1101 S Gray $950 1810 W Admiral $850 802 S Adams $1200.00 519 S. Stanley $900 131 W Elm $1050 2802 N Lincoln $1100 Four Bedroom 923 W 10th $1200.00 143 S Redwood $2000 1718 W Arrowhead Pl $1400 1223 W Preston $1200 Details at our website ctros.com Jim McCollom, Broker 405-762-9059 2324 W. 7th Suite 4
ATTENTION! NOW LEASING For IMMEDIATE MOVE-IN!
Homes
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
House for Lease in Perkins, Ok. 422 E. Pams Drive 3 bedroom 2 bath 2 car garage $1,200.00 per month No Pet Credit References www.mandevilleleasing.com Country Living!! Now taking applications for one bedroom tiny house. Appliances included. Very secluded. Horses possible. $850.00 per month Bills paid. If furnished &/or satellite will add additional $250.00/month Call 405-269-3055 Please leave message if no answer.
Apartments We have a few 1, 2, 3, & 4 Bedroom Homes, Duplexes, Apartments around Stillwater and surrounding areas. Go to our web-site at www.campbellmgmt.com to check “Availability”. Call 405-372-9225 ext 0 to schedule a viewing!
Henneberry Properties at Carleton Crossing, now leasing studio apartments, townhouses, two and three bedroom units. Call today 405-372-7395.
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.
Apartments
Henneberry Properties. Studio, One, Two and Three bedroom apartments, Townhouses, Duplexes and Rent Houses. Call today 405-743-4266
at Stillwater
1 AND 2 BR Apts with FREE Amenities AND Golf Privileges!!
405-372-9910
LindseyManagement.com 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
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
3 Bedroom, 2 bath, 2-car garage, walking distance from Boomer Lake, $800/mo. Available Mid August. (405)612-5521.
Fannie, Freddie stick with outdated credit scoring
and expanding their Burns, president advanced scoring of dollars for some scoring technologies and CEO of Vantamodels, “we applaud large players in the for the past two geScore Solutions, the fact that they mortgage market. years, but have con- told me “we’re disare doing this due “It’s not a small untinued to insist that appointed there isn’t diligence” before dertaking.” THE RE/MAX SIGNATURE EXPERIENCE Dedicated professionals all lenders use only more enthusiasm radically changing Bottom line: Forproviding unrivaled service. the older FICO mod- about getting into their systems, said the next two years els they prescribe. competing scoring Joanne Gaskin, FIat least, when it KENNETH R. HARNEY They have also de- models ... no sense CO’s senior director comes to credit clined to upgrade to of urgency. Where’s of scores and analyt- scoring, Fannie and any of FICO’s more the consumer in all ics, because the pro- Freddie are sticking predict the relative to upgrade their advanced versions this? The consumer cess “really is more with what they’ve risk of default on systems. THE RE/MAX SIGNATURE EXPERIENCE professionals providing unrivaled service. -- a move that FICO isDedicated being left out.” complex than most got. Outmoded or loan applications, They also noted THE RE/MAX SIGNAT itself supports. Part FICO had a difpeople realize.” Plus not. based on informathat at least one Dedicated professionals provi ferent perspective. the costs are dauntKen Harney’s tion from consummajor competitor to of the reason for RE/MAX SIGNATURE 114 W. HALL OF Though the compaing. “We’ve heard email address is405.533.3000 | StillwaterSig ers’ credit files. FICO, VantageScore the reluctance to change, according ny would prefer that price tags of hunkenharney@earthLow scores indicate Solutions, offers a to industry experts, clients use its most dreds of millions” link.net greater risk; high model that claims Brook Gina Killough OPEN HO is the substantial scores less risk. to score 30 milBrooksTho GinaKilloughHomes.com 2618 Lyndsey Ct. 405. 405.612.2210 THE RE/MAX SIGNATURE EXPERIENCE Since the adoption lion-plus consumers cost of retooling unDedicated professionals providing unrivaled service. 6209 W. Canterbu derwriting systems of credit scoring by with minimal data RE/MAX SIGNATURE 114 W. HALL OF FAME, STILLWATER, OK 74075 and potential comFreddie Mac and on file at the credit 1124 Stoneridge D 405.533.3000 | StillwaterSignatureRealEstate.com Ted Newlin Kase plications for bond Fannie Mae in the bureaus who curTedNewlin.Realtor.com www.prope 405.714.5309 investors. 405. mid-1990s, FICO rently are “unscoreCandy 22 Yundt Brooks Thomas SUN. JAN. Gina Killough OPEN HOUSE Reaction to Watt’s (formerly known as able” or invisible to CandysHomes.com OPEN HOUSE SUNDAY, AUGUST 13 BrooksThomasRealty.com GinaKilloughHomes.com 1-3 Beth 405.742.4525 405.880.3476 405.612.2210 2618 Lyndsey Ct. Fair Isaac Co.) has older FICO models. disclosure was swift C Tina Darr 6209 W. Canterbury 1-2:30 Tina and generally critiintroduced a series VantageScore says Carpe Stillyhomes.com CherylCarpen cal. Lisa Rice, execof newer versions if added to Fan1124 Stoneridge Dr. 12-1:30 Julie 405.697.0045 405. Julie Bahl Ted Newlin Kasey Longan utive vice president designed to improve nie’s and Freddie’s StillwaterHomeTeam.com TedNewlin.Realtor.com www.propertyjustforyou.com 405.762.3744 405.714.5309 405.880.5569 of the National Fair the predictive accu- menus, its model Housing Alliance, racy of its scores. could “expand Vicky VickyJerom said “this delay will Fannie’s and mortgage lending 405.74 Cheryl Tina Darr Amanda Meberg Freddie’s models to Hispanics and Af- further deny the Carpenter Martin Stillyhomes.com admeberg@gmail.com CherylCarpenterMartinHomes.com 405.697.0045 405.612.2096 opportunity of middate to the early rican-Americans to 405.880.7354 dle and moderate years of the past de- purchase homes by income families, cade and have long 16 percent.” Vicky Jerome Beth Peterson and in particular been superseded Under the direcVickyJeromeHomes.com BethPetersonHomes.com 405.747.7239 Each office independently owned and operated. 405.880.4370 by more consumtion of Watt, Fannie families of color, to access credit in er-friendly versions. and Freddie have the financial mainFor example, the studied the possistream.” Barrett latest FICO model bility of updating ignores score-depressing items Each office independently owned and operated. OPEN SUNDAY 1-3 PM found in many consumers’ credit files such as paid-off collections, and is more lenient on medical bill collection accounts. Several years ago, members of Congress and a coalition 416 E. Liberty of housing advocacy groups began com$119,000 plaining that Fan3 Beds | 1.5 Bath nie’s and Freddie’s www.MichaelDeckerGroup.com reliance on outdated OSCAR FORTUNE Sales Associate scoring models is 405-747-6042 405.624.2626 harmful, and urged www.c21global.com the two companies 131 N. MaiN, Stillwater
The Nation’s Housing Column
RE/MAX SIGNATURE 114 W. HALL OF FAME, STILLWATER, OK 74075 405.533.3000 | StillwaterSignatureRealEstate.com
Gina Killough
GinaKilloughHomes.com 405.612.2210
Ted Newlin
TedNewlin.Realtor.com 405.714.5309
Tina Darr
RE/MAX SIGNATURE 114 W. HALL OF FAME, STILLWATER, OK 74075 405.533.3000 | StillwaterSignatureRealEstate.com
Stillyhomes.com 405.697.0045
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
Stillyhomes.com 405.697.0045
Brooks Thomas
BrooksThomasRealty.com 405.880.3476
Kasey Longan
RealtorMomPro.com 405.880.5569
VickyJeromeHomes.com 405.747.7239
Cheryl Carpenter Martin
CherylCarpenterMartinHomes.com 405.880.7354
Vicky Jerome
VickyJeromeHomes.com 405.747.7239
Candy Yundt
CandysHomes.com 405.742.4525
Julie Bahl
StillwaterHomeTeam.com 405.762.3744
Amanda Meberg
admeberg@gmail.com 405.612.2096
Beth Peterson
Candy Yundt
BethPetersonHomes.com 405.880.4370
CandysHomes.com 405.742.4525
Julie Bahl
StillwaterHomeTeam.com 405.762.3744
Each office independently owned and operated.
Amanda Meberg
admeberg@gmail.com 405.612.2096
Beth Peterson
BethPetersonHomes.com 405.880.4370
1101 E. Connell Ave 2-3:30 pm ~ Vicky 1104 E. Hanson 2-3:30 ~~ Vicky 5006 N. Nancy Lee Dr., 1-2:30pm p.m. Kasey
Each office independently owned and operated.
Stillwater NewsPress • Friday, August 11, 2017
A7
WASHINGTON – If you’ve been waiting for the long-anticipated news that the two dominant players in the home mortgage arena – Fannie Mae and Freddie Mac – finally have decided to overhaul their outdated credit scoring systems to expand homeownership opportunities for a broader range of consumers, sorry. Your wait just got a lot longer. There will be no modernization of the mortgage giants’ controversial scoring systems before mid2019 at the earliest, according to Fannie’s and Freddie’s top government regulator. Melvin Watt, director of the Federal Housing Finance Agency, disclosed last week that despite intense pressure from Congress and homeownership advocacy groups, he plans no changes in the next two years. This means retention of the existing system that uses FICO scoring models that are widely considered out of date, and a continued requirement that mortgage lenders underwrite homebuyer applicants exclusively using scoring versions that even their developer, FICO, would prefer to replace. Some quick background: FICO scores, which range from 300 to 850,
Yost Rd.
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Stillwater NewsPress • Friday, August 11, 2017
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Frontage Road 7th Av.
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5th Pl.
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Ct. Av. uita rgia Chiq d Ct. Geo woo Wild Brentwood Dr. n Dr. Peca Redbud Dr. Redbud Dr. Randolph Ct. Eskridge Av. Windrock Hartman Av. Cr. Tyler Av. Tyler Av. Highview Av.
Dr. nett Graham Av. Ben Will Rogers Dr. Eskridge Av. Eskridge Av.
Eskridge Pl.
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McElroy Rd.
Walnut St.
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t.
te S Tyler Av.
Eastland Dr. Marcus Dr.
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lD
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6
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ore
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177
. Dr
Av.
Preston Ln.
State Ln.
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Liberty
t.
Airport Rd.
w illo
Harned Av.
Stonehenge Realty 9. 3602 E. 46th 2-4 ....................................................... Ruby
nC
Cheyenne Av.
W
Newman Av. Hillcrest Av. Brown Av.
Dr.
se
Arapaho Av.
Lake Sh
age
las
Ute Av.
Cherokee Av.
Os
Richmond Rd.
ers
Rogers Dr.
Hartwood Av.
Fisher Provence 8. 5215 W. 7th Ave. 1-3.................................... Kim/Sherri
gate Dr .
Rog
Ranch Av.
Real Estate Professionals 6. 2415 Trophy Ln. 1-3 ............................................Melissa 7. 11422 Derby Ct. 1-3 PERKINS ...............................Lori
Lynn Ln.
North
Britton Ct. B Dr. ritton Greenbriar Cr. Dr. Au d Ma ene D rieD r. r. Greenvale Ct. Ct. side C rook
Golf Dr.
B
Coldwell Banker Team Stillwater 4. 3016 Wellington 1-3 .........................................Paulette 5. 1309 S. Chester 2-4 ............................................. Connie
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RE/MAX Signature 1. 1101 E. Connell Ave. 2-3:30 ................................. Vicky 2. 1104 E. Hanson 2-3:30 ........................................... Vicky
Windsor Cr.
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Richmond Rd.
Century 21 Global 3. 416 E. Liberty 1-3.................................................... Oscar
Ct.
yon
Can
Chateau Dr.
Stonecrest Ct.
mil
Topaz Ave.
Chateau Pl. Peaceable Acres Rd.
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Jardot Rd.
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7