February 24 Real Estate Weekly

Page 1

News Press Stillwater

REALESTATE W E E K LY

February 24, 2021

22.5% The monthly mortgage payment rose in December 2021.

Your best source for weekly real estate news and listings for Stillwater and surrounding communities

5 bedrooms with 3 full baths located in the quiet development East of Perkins. From top to bottom, this home has something for everyone! The 3rd floor is a spacious loft separating two large bedrooms. Large living room with open floor plan of kitchen with lots of storage and granite counter tops. Large master bedroom and bath with a standup shower and jetted tub. Enormous garage/basement.

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$365,000

12601 S. Dusty Lane - Perkins

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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.


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Stillwater NewsPress • Thursday, February 24, 2022

Parents’ home equity could cut chances of college aid for kids Perhaps it’s unfair, but some colleges and universities will give little or no financial aid to students whose parents have a lot of built-up equity in a home. DEAR DAVE: Our son has just started his senior year in high school, but we have already received the various forms to fill out so we can try to get some financial aid to send him to college. Our home is worth about $150,000 more than what we paid for it several years ago. Will this affect our family’s ability to get the most financial aid possible? ANSWER: It depends largely on which college or university your son hopes to attend. While some schools don’t expect parents to use their home equity to help pay for tuition and additional college costs, other institutions indeed will reduce the amount of financial aid they’ll offer if the family home is worth much more than Mom and Dad paid for it. Unfortunately, there’s no list available that shows

which colleges consider home equity when calculating their financial-aid packages and which schools do not. But the majority of public schools, including most state universities, do not consider the parents’ equity when making financial-aid offers. It’s a different story at hundreds of private schools and a handful of topflight public universities across the U.S. These institutions not only ask for details about the parents’ home equity, but often expect the folks to tap some of it to help pay college bills. The admissions or financial-aid offices at the colleges your son is considering attending can tell you whether the equity in your home will be included as part of their financial-aid offer. If the school will indeed consider your equity when doling out financial help, make sure to ask about any exceptions or exemptions that can help to obtain the best aid package possible. For example, some schools will overlook a

your carefully worded question leaves me wondering which two banks that you’re writing about. Not! Nonetheless, the financial institution that recently purchased the MYERS lender who issued your original mortgage two years provides several online calculators to ago cannot change the terms of your estimate costs and current home loan, a family’s expected provided that you contributions to are up-to-date on their offspring’s your payments. higher education. Federal law permits ••• DEAR DAVE: We the new bank to change the mailing purchased a home address of your futwo years ago and financed it through ture payments, but a bank that I won’t it would be illegal name, but let’s just for it to alter the interest rate on your say it was a “counmortgage or make try wide” lender. any other substanNow it has been purchased by a dif- tial changes to its terms. ferent lender that ••• has banks, um, all DEAR DAVE: I across America. want to purchase a Can the new bank house, but I don’t alter the interest have a lot of money rate on the fixedsaved for a down rate mortgage that payment. Is it true our first lender that some lenders gave us? will let buyers put ANSWER: Gee,

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DAVID large amount of built-up equity if one or more of the student’s parents suffers a long-term disability, is retired or has lost a job. It might even be a wise idea to tap your home equity and use the proceeds to make large contributions to a tax-advantaged retirement account before you fill out the financial-aid applications for your son. Though many schools now expect parents to use part of their home equity to pay for tuition, most of them don’t expect you to raid your own retirement nest egg to meet the rising cost of going to college. One of my favorite internet sites for information about financial aid for college is www.finaid. org, a free site that answers dozens of typical questions concerning different types of help and

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it. It might take a few years to raise the dough, but it would be a better choice than putting your down payment on a high-rate credit card. ••• Our booklet, “Straight Talk About Living Trusts,” explains how even low- and middle-income homeowners can now reap the same benefits that creating an inexpensive trust once provided only to the wealthiest families. For a copy, send $4 and a self-addressed, stamped envelope to D. Myers/Trust, P.O. Box 4405, Culver City, CA 902314405. Net proceeds will be donated to the American Red Cross. (c)2022 Cowles Syndicate Inc.

NEW LISTING - 9433 Woodchuck Court, Edmond - 3 BD / 2 BA / 2 car attached garage.Granitecountertopsinkitchen,customwalk-intiledshowerinmainbatthroom and many more. Has a privacy fence backyard with an extra large patio.....$214,900

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their down payment on a credit card? ANSWER: A few lenders will accept a credit card for a down payment, but it’s usually a bad proposition for the buyer. For starters, such lenders charge huge upfront fees for a cash advance -whether it’s $2,000, $20,000 or more. Then, on top of the giant fees that you would pay for such down payment “help,” you would likely get stuck with a mortgage that’s two, three or even four times the current rate. Your best option now would be to delay your current home-buying plans and instead save some money so you can make a cash down payment rather than finance

BARBARA HOUCK

BROKER/OWNER, GRI

30+ years of experience

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www.houckagency.com • 8 MAIN PLACE/Ste. 2 • DOWNTOWN STILLWATER


Horticulture tips for March HOME GROWN KEITH REED

• Wrap up cutting back ornamental grasses and liriope very soon. Many of these plants are already actively growing, or will be very soon. • Remove any remaining dead plant material from last year’s herbaceous

ornamentals. If you don’t have a compost pile yet, now is the perfect time to start one.

ucator in the Payne County Extension office. Keith can be reached via email at keith.reed@okstate.edu, phone at 405-747-8320, or in For more inforperson at the Payne mation of this or County Extension any other horticultural topic, you can office, located at 315 contact Keith Reed, W. 6th in Stillwathe Horticulture Ed- ter.

N NE Dryden sqtoft Sho Move Ready $157,000 Tiffany 502 N.701 Burdick - 3 2 Cir 1623 ft Close inIn & Schools - 225 000 - Donna 9366 HWY 33 -- 4/2/1621 3s bed, 3 bath on .75-acre m/l - -$275,000 -- Ann 2023 E. 1324 Linda Ave - Large corner 3BR/2.5BA 1900 ft $248,000 – Tiffany 5020N. W 10th 4 bdrm., Stillwater Club, large-Over lot $360,000 - Tiffany 1800 N -Benjamin - 3 outbuilding. Bed 1 Bath 1121 Priced sqft $139,000 - Melissa Henderson St. -lot 2Stwith Lots in Country NE Stillwater, to -Sell - sq $29,000 - Donna 814 S. Rock Hollow Ct. - SWDr. area4 /Bed, over 3.5 1990Bath, sq ft/SCC Golf access $274,000 S Brenna 2,891 sq. Cart ft. -Ready $490,000 - Ann –- Tiffany 3723 10217 N Washington - 3/2 -1300 sq ft UPDATED Move In - $154,000 Amy 9715 E. Horizon Dr.bdrm./3 -E50Kenworthy x 60 livestock barn on 5 acres with no restrictions $100,000 – Lori K- PENDING - 3/1/2, 1178 sq. ft. - $148,000 -- Lori K. 1919 Brooke Hollow Ct. - 322 4 bath/Large Lot/North of OSU Campus! $343,000 - Tiffany any 322 E Kenworthy - 03/1/1178 sq. Detached Garage, Storage 4 Lots - NEW $148,000 - Lori K. PRICE W. 19thAve. Aveft., -#43 7.48 inside Stillwater cityShed, limits $350,000 – Lori K 6000 N Pennsylvania - acres 2 bdrm./2.5 Bath Condo, Oklahoma City - $129,000 - Tiffany 3417 W 31st Ave. 4/2/3, 2243 sq. ft. $349,900 Donna 2206Creek W- 23rd Ave. 3/2/2, 1496 sq. ft.lot As-Is -Barn $170,000 K. 801 S. Burdick 3BR/1.5BA, 1.5 story on 1371 sq ft a $89,000 Lori-CLori PENDING! 1408 N. M5215 Spring Cir. E - -2/1 1253 sq.large ft. on 3Selling Lots with -–$299,900 - Lori K.00 – Lori 4517 Broker Associate 1115W S.Country Richfield Ct. - sq. 3BD/2BA 1775 ft $305,000 – -Tiffany 2320 Timbercrest Dr. - -3 3/2, Bed,1300 3 Bath, 1600 sq. ft. sq New $209,000 Donna 4713 Club - NICE Lot for sale -Construction $25,000 Donna 3723 ft. UPDATED, Move In Ready -- $154,000 --Amy 20J N Washington onna Lori 10 Lori 405-612-6724 2923 N. Rd. Monroe - 3BD/2BA 2321 ft $208,000 – Tiffany Shumard Oaks - 5 -Nice Lots for you tosq build your10-acres new home - Donna 3716 S. Perkins Prime Commercial Property, m/l-PENDING! -$27,000 $1,800,000 -nLori K. 2206Pickles W 23rd Ave. - 3/2/2, 1496 ft.School Selling As-Is - $170,000 7917 Gap - Nice large lot insq. Perkins School District $22,500 Lori K. - Donna Scotthaven Addition - Nice Large lots in Perkins District/starting at --–Lori $45,500 5607.1 S Mehan - 41.5-acres, Just North of 68th & Mehan, Ripley Schools - NEW PRICE $249,000 - Tiffany Hallies Meadow NEW CONSTRUCTION 4BD/2BA sq ft $379,900 – Lori 5607 6021 S Mehan Rd. - 52.5-acres for Sale, Will Divide, Ripley2347 Schools - $349,000 - Tiffany y5,900 37166023 S. Perkins Rd.Brk. - Prime Commercial Property, 10-acres - $1,800,000 - K. Lori K. – Lori 1408 N.PEND Mai iffany - New 4/2, 2075 sq. ft.m/l - $399,900 $338,500 Lori 5005 N Haydans Perkins Rd - 4000 sq ftConstruction, warehouse - Oh the possibilities 00 E 810 Rd., Tryon - 53.34-acres. Hunting/Building/The possibilities are endless–--Donna $224,028 - Kyle 5706 W. Garden Pointe Dr.Lots - Radiant Gated 3BD/3BA, 2754 sq- ftNEW $550,000 – Ann 5504 W Creekside Dr.-12th -41.5-acres, GATED COMMUNITY, Luxury, 5/4.5, 5823 sq. ft. - NEW PRICE $1,580,000 1218 W - 4 Commercial aCommunity very High Traffic area/starting at $255,000 - Ann - Dolores/Tiffany 5607.1 S Mehan Just North of in 68th & Mehan, Ripley Schools PRICE $249,000 - Tiffany 3618 W. Fountain View Rd. Ct. --5BD/2.5BA, in ground pool - Woodland TrailsC11 $362,900 – Tiffany 3000 S. 4 bed, 4.5 bath, on 3.2-acres -plus $845,000 -addn Tiffany/Dolores $820,000 9001 Cedar Crest Trail - 4Range bdrm./3 bath/5-acres/Pool/Summer Kitchen more!! - NEW PRICE $995,000 - Tiffany 5504 W Creekside Dr. GATED COMMUNITY, Radiant Luxury, 5/4.5, 5823 sq. ft. NEW PRICE $1,475,000 Dolores/Tiffany 208 N. Donaldson - 4BR/2BA 1851 sq ft - close to shopping & schools $205,000 – Donna a 3215 S. Boomer Rd. - Nice Building for- sale $2,245,000 - Tiffany 719 Kar 0 - Tiffany 18575 Deer Pointe - 3/2/2 onCommercial 2.5-acres, 1917 sq. ft. NEW- PRICE $268,000 - Kyle 910Main Kansas St. / Pawnee - 1936 farmhouse / 1 acre lot with outbuildings $129,999– Tiffany 211Crest E. St., Coyle - bath/5-acres/Pool/Summer 64 Unit Storage Building, GREAT INVESTMENT -- $165,000 - Donna 9001 Cedar Trail 4 bdrm./3 Kitchen, plus more!! C11 NEW PRICE - Tiffany 301S.S. Duck St. - Beautiful Office Building inacross the Stillwater -- $900,000 Lori$995,000 K. ri- -Lori 11 415 W. 80th - 52.65 OK, acresCute rural property, noheart restrictions $300,000 – Lori riffan 505 Morton Ave. - Ripley, home fromofthe School $75,000 K. 120 W Tyler CALLING ALL INVESTORS, 2 Units, 12 Apts., 2 bed, 1 bath $950,000 Dolores/Tiffany 617 S. Main Downtown Stillwater commercial unit plus apartment unit $395,000 – Tiffany 301 S. Duck St. Beautiful Office Building in the heart of Stillwater $900,000 Lori K. 2923 29 N. Monroe - 3 bdrm./2 bath/Study/Game Room. One block to Boomer Lake - $219,000 - Tiffany Tiffany 830456 S. Ct. 3354 / Carney -3BR/2BA sqCreek, ft to - out $199,900 – Lori - Tiffany 000 N - 9-Rd lots platted for duplexes close Boomer Lake - $420,000 3337 WGlenwood Charleston Ct. New Construction in 1468 Berry 4building bed, 2.5 bath - $397,900 - ,Donna 719 Karen 0 - Tiffany 120 W Tyler - CALLING ALL INVESTORS, 23BD/1BA Units, 12 Apts., 2 $79,800 bed, 1 bath - $950,000 - Dolores/Tiffany 111 E. Tower / Perry 1118 sq ft – Tiffany 7917 Cir. Pickles large lotsq. in Perkins School - Lori$250,000 1408Spring N. ,900 -- Lori 5215 Creek E - 2Gap bed,- 1Nice bath, 1253 ft. on 3 lots with District a barn -- $22,500 NEW PRICE Lori K. 502 N. Burdick - 3BR/2BA 1623 sqLots ft Close to shopping & schools $209,000 – Donna 6021 Hallies Meadow -- NEW CONSTRUCTION 4BR/2BA, 2,347 sq. ft. - $379,900 - Lori Roka Hidden Lake 14 Beautiful Beautiful on the the North Side Side - $52,500-$79,000 $52,500-$79,000 - Lori Lori K. Roka Hidden Lake 14 Lots on North K. 2923 5005 iffany 920, 920 1/2 S. Duck 2 Investment properties, -2 Oh, homes, bedrooms total $160,000- Donna – Amy N Perkins Rd. .- -4,000 sq. ft. warehouse the 5possibilities - $399,900 2113 Dr. 4/2.5/2, 2439 sq. ft. and GREAT PRICE $345,000 101Pointe W. 80th building shopLOCATION on2,754 11.5 acres $4,000,000 – Lori $335,000 $495,000 57061408 W. Garden Dr.- -Commercial Gated Community 3BR/3BA, sq.-ft.NEW - NEW PRICE $510,000 - Ann N.N.MCrescent 35,900- -Ann Lori 354 Cou - Tiffany 5011 W. 10 acres of Stillwater $300,000 – Lori 9366 NE /Hwy. 33 Lakeview - -31936 bed, farmhouse 3 -bath, on .75-acre m/lwith - NEW PRICE $249,000 - ,500 Ann 910S.Kansas St. Pawnee / NW 1-acre lot outbuildings - $129,999 - Tiffany 4517 0 - Lori 9366522 NEE. Hwy. 33 3 bed, 3 bath, on .75-acre m/l NEW PRICE $249,000 Ann 12th#43 - Commercial building inCondo, downtown Stillwater Lori 415 W. Ave. 80th - 52.65-acres rural property, noOklahoma restrictions -$250,000 $250,000 - Lori $112,000 354 - ffany Tiffany 6000 N - 2 bdrm./2.5 Bath City - NEW–PRICE - Tiffany PENDING - Pennsylvania ,900 - Tiffany 354 2620 S. Black Oak Dr. -Stillwater 4BD/3BA, 4813 sq ft Georgian & style – Donna 617 S. Main -Addition Downtown commercial unitSchool pluselegance apartment unit$950,000 - $395,000 - Tiffany Scotthaven Nice large lots in Perkins District/starting at $45,500 - Donna 4713St. W -Country Club - shelter, NICE Lot for sale $195,000 - $25,000–-Tiffany DonnaPENDING! 1304354 & 11111012 45,000 - Lori iffany N. Manning 3BR/2BA storm outbuilding E. Tower / Perry - 3BR/1BA, 1,118 sq. ft. - NEW PRICE $70,800 - Tiffany - PENDING PENDING - S. 3000 ,000 -Tiffany Shumard Oaks -W. Just 51 &4.5 Country Club left --$25,000-$27,000 S. Rd. -properties, 4ofbed, bath, on 3.2-acres - ft$820,000 -–Tiffany/Dolores 2218 3rdSouth - Close to campus 3BR/2BA 2208 4sqlots $239,000 Tiffany 920, Duck - 2Range Investment 2 homes, 5 Only bedrooms total NEW PRICE- $152,500 - Amy - - - Donna 1304 & 920½ - Lori 1408 N. Main / Perkins4BD/3BA 2098 sq ftinNEW CONSTRUCTION on $4,000,000 golf course $325,000 – Lori Scotthaven Addition - Nice large lots Perkins School District/starting at $45,500 101 W. - Commercial building and shop on 11.5-acres Lori - Donna 3215 S.80th Boomer Rd. - Nice Commercial Building for sale -- $2,245,000 --Tiffany 4517S. Jenna Ln. - 3BD/2BA 1756 sq ftNW NEW CONSTRUCTION $266,900 5011 W. Lakeview - 10-acres Stillwater- $820,000 - $300,000 - Lori – Lori Tiffany 3000 Range Rd. - 4 bed, 4.5 bath, on of 3.2-acres - Tiffany/Dolores 354 115 80th - 14.5 acresOK, m/l Cute Just North ofacross 68th & Mehan - $121,075 Tiffany 354 505 S.3 S.522 -Kyle Tiffany E.E.12th - Commercial in downtown Stillwater $250,000 - -Lori Morton Ave. - Rd. Ripley, home the School - -$69,900 - Lori K. 3215 Boomer - Nicebuilding Commercial Buildingfrom for sale - -$2,245,000 Tiffany 80th - Nice4,813 large office 3 acres m/l $950,000 – Lori- $950,000 354 Cou , -700 Tiffany . .S. Kyle 2620S306 S. Black Oak203 Dr. E - 4BR/3BA, sq. ft.on Georgian elegance & style - -Lori Donna 270 2707 7 Lori 505 S. Morton- Ave. OK,sq. Cute home across the School --course $69,900 - Lori Glenwood Ct. --9Ripley, lots platted for close to Boomer $420,000 - Tiffany E 2nd - 4BD/2BA 1717 sq ft Split floor from plan $175,000 – Ann PENDING &N 1306 24 ft. - K. $135,000 - Lori 14081304 N.000 Main /Perkins 4BR/3BA, 2,098 ft. duplexes NEW CONSTRUCTION onLake golf $325,000 - Lori K. $315,000 2707 W.S4 3202 317-sq. - Lori Lori 6038 Brook - NEW 4BR/2.5BA 2183 $349,000 – Lori- $420,000 000 N Glenwood Ct.Haydans - 9 lots platted duplexes closesqtoftBoomer Lake - Tiffany 4517 Jenna 3BR/2BA, 1,756 sq. ft.for CONSTRUCTION - $266,900 - Lori PENDING 202 5 -- -Donna 101Ln. W. -80th - Commercial building and shop on 11.5-acres - $4,000,000 Lori 2112 N.80th Monroe - 2 Commercial buildings on 3restrictions acres $600,000 – Dolores E. W. 80th - 14.5-acres m/l just of 68th Mehan - $121,075 - Tiffany Lori K. 6115415 - 52.65-acres ruralnorth property, no& - $250,000 - Lori 354 S. Council Rd. - Land forlarge sale office in Crescent, OK - of No restrictions 33.5- $121,075 acres m/l $167,000 115 E. 80th 14.5-acres m/l just north 68th & Mehan - Lori K. – Tiffany 203 E. 80th Nice on 3-acres m/l NEW PRICE $1,200,000 - -Lori 101 W. 80th - Commercial building and shop on 11.5-acres - $4,000,000 Lori . as or S. Burdick - 3BR/2.5BA ft $87,000 – Tiffany 3202 0000 E. 2nd - 801 4BR/2BA, 1,717 sq. ft. Split1371 floorsq plan - $170,000 - Ann ---PENDING S. Ann 203 - -Nice large- office on 3-acres PRICE $1,200,000 - -Lori 115E. E.80th 80th 14.5-acres m/ldivide, just north of m/l 68th- NEW & Mehan - $121,075 - Lori K. ffany 44th - 15.86 acres will look for signs west $317,000 6038 Haydans Brook - 4BR/2.5BA, 2,183 sq. ft.of- Western $349,000 - Lori, – Lori any 474 2707 .203WE. 80th Nice large office on 3-acres m/l NEW PRICE $1,200,000 Lori Cedar Oaks & 19th 7.48 acres m/l in city limits $350,000 – Lori 2112 N. Monroe 2 Commercial buildings on 3-acres $600,000 Dolores 421 2115 sq. ft. - $297,500 fany --Lori N.E. Pams Dr. - NEW CONSTRUCTION, 3/2.5/2, Possibilities! - $2,352,900 Lori K. N.601 Lori 0000 Country Club Rd. - 20for Acres onwest -- $200,000 - Ann- Lori 2707 W 44th - 15.86-acres - will divide, look signs of Road Western - $317,000 - PENDING C/Jennifer 4810S.Aloysius Dr - 3/2.5/3 2180 sq ftPaved - $349,000 Lori Lori Crosby Donna Rhinehart 4717 S. Turtle Pond Ct. Great .-acre m/l Lot for your building pleasure $45,000 Tiffany 5011 W. Lakeview 10-acres approx. 1/4 mile West of Lakeview & Country Club $250,000 - Lori K. Montie Stewart Monty Stewart Cedar Oaks & 19th - 7.48-acres in city limits - $350,000 - Lori OPEN HOUSE, m/l SUNDAY 1-2 P.M. Realtor Associate 3000 Range Rd $845,000 1-3 Dolores Lemon Realtor Realtor Associate N. Washington Rd. 151.8 acres m/l, OH the Possibilities! $2,352,900 Lori 4717 S. Turtle Pond Ct. - Great .-acre m/l lot for your building pleasure - $45,000 - Tiffany PEN q. ft. - $349,000 405-612-4184 1324 N Henderson St. -- 151.8 Lot foracres sale,m/I, .75-acres, Evergreen Estates - $29,000 -- Lori Donna 3723 N Washington -OH $154,000 - Amy Parsons 405-747-7306 405-372-5151 ngtonRd. Rd. the N. Washington - 151.8-acres m/l, OH the Possibilities! Possibilities!- -$2,352,900 $2,352,900- -Lori Lori

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any green bermudagrass at all, it will be damaged by this product. • A key to successful disease management is preventative treatment. For fruit trees and ornamentals susceptible to fungal problems, it’s important to get that first treatment on prior to disease development. Timing varies depending on the plant and the disease, but in general, plants will need to be treated prior to or shortly after they first leaf out. • Pre-emergent herbicides must be applied before weeds germinate. Crabgrass is our most common summer weed of concern. This weed germinates about the same time that redbud trees or forsythia bushes begin to drop their blooms so when you see them starting to bloom, get that treatment down. • March is a good time to fertilize cool season grasses like tall fescue. Do not fertilize bermudagrass this month as the soil is too cool for the plant to take advantage of the nitrogen. • Begin planting cool season vegetable crops like radishes, beets and broccoli.

Stillwater NewsPress • Thursday, February 24, 2022

We’ve had enough cold weather recently to keep soil temperatures low. If you’re anxiously waiting to plant something, remember soil temperatures are an important component of planting timing so proceed with caution over the next few weeks. Also, remember that our last average freeze date is still six weeks away! • Plan to attend the March edition of the Payne County Master Gardeners Tuesday Gardening Series on March 8 at the Greenhouse Learning Center on campus. The topic will be garden pollinators. • For landscape beds and garden plots, it is still easy to control winter/ spring weeds with cultivation if done soon. Remember, a very small inconspicuous weed is right now can completely dominate the same space one month from now. • For homeowners that typically use glyphosate to control weeds on their dormant bermudagrass, the window of opportunity will be closely quickly. Check for signs of early green-up along sidewalks and south facing slopes before attempting to make an application. If you see


Jan. sales rise ahead of expected rate hikes dian home price jumped 15.4% from last year at this time, to $350,300. LOS ANGELES –Sales Those prices are being of previously occupied driven higher with so homes rose in January many potential buyers as a surge in buyers with hunting for a shrinking cash and others eager to number of properties avoid higher mortgage still on the market. The rates snapped up proper- number of homes for sale ties, leaving the number at the end of January of available houses on the totaled just 860,000 – the market at a record low. fewest since the NAR Existing home sales began tracking it in 1999, rose 6.7% last month and there are few signs from December to a seathat pressure will let up sonally adjusted annual soon. rate of 6.5 million, the The inventory of unsold National Association of homes fell 2.3% from Realtors said Friday. December and 16.5% That’s more than the from a year ago. At the roughly 6.08 million sales current sales pace, that that economists had been amounts to a record low expecting, according to 1.6 months’ supply, the FactSet. NAR said. Sales slipped 2.3% from The combination of January 2021 as the me- rising home prices and a By Alex Veiga AP Business Writer

dearth of homes on the market has also given a leg up to investors and homebuyers who can afford to outbid other would-be buyers with cash. Some 27% of home sales last month were all-cash transactions, the NAR said. A year ago they made up only 19%. Real estate investors accounted for 22% of transactions in January, up from 15% a year ago. First-time buyers, meanwhile, made up 27% of all homes sold last month. On average, homes sold in 19 days of hitting the market last month. That’s not quite as fast as the summer, when 17 days was the norm. In a market that’s more evenly balanced between buyers and sellers, homes

typically remain on the market 45 days. Homebuilders have stepped up to put up more new homes in response to the red hot housing demand. Nearly 1.6 million housing units were started in 2021, a 15.6% increase over 2020, according to the Commerce Department. But many more homes need to be built. A recent analysis by Realtor.com found the shortage of new homes relative to new households has swelled to nearly 6 million homes. Housing market demand looks to remain healthy this year, bolstered by ongoing demographic change as younger millennials and GenZers come of age and look to become homeowners.

But with housing in short supply since well before the pandemic, higher prices and rising interest rates will make it even harder for house hunters this spring to secure a new home. Average long-term U.S. mortgage rates rose this week, approaching levels not seen since 2019. The average rate on a 30-year loan reached 3.92%, up from 3.69% the previous week, according to mortgage buyer Freddie Mac. The last time the 30year rate was higher was in May of 2019 when it reached 3.99%. Historically low mortgage rates last year helped give would-be homeowners buying power as prices soared. Now rates are expected

to rise as the Federal Reserve moves to fight inflation by raising its shortterm interest rate and winding down its bond purchases that helped keep long-term interest rates low. The rapid-fire sales occurring now could loose momentum just because prices are rising so fast and there are so few homes to choose from, said Nancy Vanden Houten, lead U.S. economist at Oxford Economics. “Resilient demand and strong income gains will underpin the housing market, but limited supply and declining affordability from both higher prices and sharply higher mortgage rates will constrain the pace of sales,” Vanden Houten said.

STILLWATER HOME Stillwater NewsPress • Thursday, February 24, 2022

1405 E Will Rogers • 3BR, 2BA 1,511 sq ft This is one you won’t want to miss--Updated home ready for a new owner! This 3 bedroom, 2 bath home sits on a large fenced lot! Not only is it farmhouse style with sliding barn doors, white cabinets, stainless appliances and great lighting, but it also got new duct work and insulation in 2020. Other updates include motor on AC replaced, Hot water heater replaced, Electric panel and circuits replaced, some flooring replaced, new vanities and mirrors, new light fixtures, new windows, new ceiling fans, new kitchen cabinets, countertops, backsplash and appliances, both bathrooms fully updated, extended laundry room, and much more all in the last 5 years! See it soon before its gone!

Visit www.perkinsfrontierrealty.com and check out

FRONTIER REALTY

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Rent rising across the country Associated Press

really took off,” she said. According to the U.S. Census Bureau, rental vacancy rates during the fourth quarter of 2021 fell to 5.6%, the lowest since 1984. “Without a lot of rental vacancy that landlords are accustomed to having, that gives them some pricing power because they’re not sitting on empty units that they need to fill,” said Danielle Hale, Realtor.com’s chief economist. Meanwhile, the number of homes for sale have been at a record low, contributing to ballooning home prices that have caused many higher-income households to remain renters, further upping demand. Construction crews are also trying to bounce back from material and labor shortages that at the start of the pandemic made a preexisting shortage of new homes even worse, leaving an estimated shortfall of 5.8 million single-family homes, a 51% leap from the end of 2019, Realtor. com said. And potentially compounding all of this is the increasing presence of investors. A record 18.2% of U.S home purchases in the third quarter of 2021 were made by businesses or institutions, according to Redfin, as investors targeted Atlanta,

Phoenix, Miami, Charlotte, North Carolina, and Jacksonville, Florida – popular destinations for people relocating from pricier cities. Hale said the increasing presence of investors is a factor in rent hikes, but only because they have pricing power due to low vacancies. “I don’t think that’s the only driver,” she said. Most investors aren’t tied down by rent control. Only two states, California and Oregon, have statewide rent control laws, while three others – New York, New Jersey and Maryland – have laws allowing local governments to pass rent control ordinances, according to the National Multifamily Housing Council. And laws in some states like Arizona

actually restrict local jurisdictions from limiting what landlords can charge tenants. In Tucson, Arizona, the mayor’s office said it has been deluged with calls from residents worried about rent hikes after a California developer recently bought an apartment complex that catered to older people and raised rents by more than 50%, forcing out many on fixed incomes. The rent on a one-bedroom apartment in the complex went from $579 to $880 a month, an increase legal under Arizona state law. Arizona Sen. Kyrsten Sinema decried the increases during a recent Senate Banking Committee hearing, saying Arizona’s rapidly

growing housing costs have been a “major concern” of hers for years. Nationally, Hale, the Realtor.com economist, expects rents to continue to rise this year, but at a slower pace, thanks to increased construction. “Improving supply growth should help create more balance in the market,” said Hale, who forecasts rents to rise 7.1% in 2022. In Miami, Guerra has started packing her belongings ahead of her March moveout date. She spent weeks frantically looking for places in her budget but said she couldn’t find anything that wasn’t “either incredibly small, incredibly broken down or an hour away from work and everyone I know.”

306 S. BERRY STREET • $79,000

Mid-century bungalow conveniently located on a quiet street near shopping and bus route. Cute floor plan, hardwood floors, plenty of storage and a fenced backyard. Three bedrooms and a good size garage with room behind it, too. Selling as-is. With a little TLC, it could be just what you have been looking for.

C5

a year earlier, the biggest increase in four decades. While many economists expect that to decrease as pandemic-disrupted supply chains unravel, rising rents could keep inflation high through the end of the year since housing costs make up one-third of the consumer price index. Things have gotten so bad in Boston, which has nearly overtaken San Francisco as the nation’s second-most expensive rental market, that one resident went viral for jokingly putting an igloo on the market for $2,700 a month. “Heat/ hot water not included,” Jonathan Berk tweeted. Experts say many factors are responsible for astronomical rents, including a nationwide housing shortage, extremely low rental vacancies and unrelenting demand as young adults continue to enter the crowded market. Whitney Airgood-Obrycki, lead author of a recent report from Harvard University’s Joint Center for Housing Studies, said there was a lot of “pent-up demand” after the initial months of the pandemic, when many young people moved back home with their parents. Starting last year, as the economy opened up and young people moved out, “rents

Stillwater NewsPress • Thursday, February 24, 2022

median rent rose an astounding 19.3% from December 2020 to December 2021, Krystal Guerra’s according to a RealMiami apartment tor.com analysis of has a tiny kitchen, cracked tiles, warped properties with two or fewer bedrooms. cabinets, no dishAnd nowhere was washer and hardly the jump bigger than any storage space. in the Miami metro But Guerra was area, where the mefine with the apartment’s shortcomings. dian rent exploded to $2,850, 49.8% higher It was all part of than the previous being a 32-year-old year. graduate student in Other cities across South Florida, she Florida – Tampa, reasoned, and she Orlando and Jacksonwas happy to live ville – and the Sun there for a few more years as she finished Belt destinations of San Diego, Las Vegas, her marketing deAustin, Texas, and gree. Memphis, Tennessee, That was until a all saw spikes of more new owner bought the property and told than 25% during that time period. her he was raising Rising rents are the rent from $1,550 an increasing driver to $1,950, a 26% inof high inflation that crease that Guerra has become one of the said meant her rent would account for the nation’s top economic problems. Labor majority of her takeDepartment data, home pay from the University of Miami. which covers existing “I thought that was rents as well as new insane,” said Guerra, listings, shows much who decided to move smaller increases, but these are also picking out. “Am I supposed to stop paying for ev- up. Rental costs rose 0.5% in January from erything else I have December, the Labor going on in my life just so I can pay rent? Department said last week. That may seem That’s unsustainsmall, but it was the able.” biggest increase in 20 Guerra is hardly years, and will likely alone. Rents have accelerate. exploded across the Economists worry country, causing about the impact of many to dig deep rent increases on into their savings, inflation because the downsize to subpar big jumps in new units or fall behind on payments and risk leases feed into the U.S. consumer price eviction now that a index, which is used federal moratorium to measure inflation. has ended. Inflation jumped In the 50 largest 7.5% in January from U.S. metro areas, By R.J. Rico


Remote work is changing the industry By John Dealbreuin

C6

Stillwater NewsPress • Thursday, February 24, 2022

Wealth of Geeks

Forty-three percent of full-time employees worked at home in 2020. That’s almost double the 22% reported in 2019. According to the U.S. Bureau of Labor Statistics, those numbers appear to be leveling off, but in many industries, remote work is becoming the norm, rather than the exception especially with new variants of Covid-19 continuing to circulate throughout the United States. Those numbers have many wondering whether the increase in remote work impacts the price of real estate, and what repercussions could be expected for real estate investors. Here’s what we found. #1 How Remote Work Impacts Cost of New Homes There is no question that remote work is changing the real estate market. On the one hand, it increases the demand for homes with separate office areas. The U.S. Census Bureau reported more than a third of U.S. households are working from home more frequently than before the pandemic.

There is an increased demand for multiple at-home offices that are needed to accommodate two or more adults working from home. In selected markets, national homebuilder KB Home introduced a home office concept designed to personalize the needs of homeowners working from home. The dedicated home office room is changing home construction - increasing the cost of new construction and residential value.

fordable housing in costly markets, real estate investors, in both traditional and crowdfunding endeavors, could see demand for residential real estate drop in locations that are normally more lucrative. For example, California already has some of the most expensive housing in the entire country. However, we’ve already seen accelerating home prices slow significantly. And experts speculate continued slowing, especially in #2 Remote Work costly areas thanks Affecting Residen- to remote working. tial Investments While more affordRemote work is able prices in the also changing the Golden State could price and value of benefit potential homes based on lohomeowners, a cation. The popular- decline in value in ity of remote work is specific housing driving an “untethmarkets in the ering” of people who Golden State hurts felt the need to live investors. close to expensive downtowns in the #3 Commercial past. Working reReal Estate is motely allows people Also Affected to live further away Besides the imfrom their centers pact on residential of employment. As real estate, the a result, home pric- change caused by es may slow their remote work is hurtgrowth in urban ing specific commerlocations, but rise in cial markets. Since suburban ones. people can now Square, Twitter, work from home, and Coinbase are there is decreased just a few San Fran- demand for comcisco headquartered mercial spaces. companies offering According to employees the reU-Haul’s Growth mote working option index data for 2021, permanently. California lost more Although this people to migration could be excellent than any other state news for people in 2021. The three looking for more af- most significant

states in the Northeast-New York, Pennsylvania, and Massachusetts were among the top 10 losers in migration trends. Individuals looking to start investing in real estate need to watch migration trends closely. For major cities such as New York or Chicago, this can represent a real challenge to their real estate market, potentially causing a decline in prices and increasing vacancies. Unfortunately, these ripple effects are also damaging retail and restaurant spaces, both of which are seeing an increase in vacancy as more workers stay at home and don’t shop in city settings. Suburban areas are expected to continue booming due to these changes. People no longer need to go to work in the cities - or at least don’t need to go to those places as regularly. As a result, demand for homes in suburbia is skyrocketing, positively impacting the overall price of homes in suburban locations. A Realtor.com research report showed that suburban listing prices had increased faster than urban prices. Additionally, a typical suburban home spends nine fewer days on the market

now than last September, decreasing faster than the typical urban home. As such, it seems clear that remote working causes a more significant spike in suburban home prices than their urban counterparts. Perhaps most interesting about these changes is that they impact a much wider breadth of locations than are typically seen when there are shifts in the housing market. For example, the rise of remote working is unquestionably impacting rural housing markets. Reports worldwide have found that the rise of remote working has resulted in more people fleeing cities to move to

quieter, rural areas. That can cause increased home values in areas where populations and infrastructure are typically sparser. Which leads to another quandary: rural areas must have access to reliable internet connections for connecting to the home office. Otherwise, they will be unable to take advantage of the boom in remote work. Finally, it is worth considering that remote working has also made a real impact on rent prices, but not in a way you might think. One study found that areas with higher education - and thus more likely to work remotely

- had slower rent growth than other areas. Another side effect of the ability to work almost anywhere, and an unwillingness to pay higher rents slowing their usual annual increase. Remote working is unquestionably having an impact on the price of real estate. However, like all items related to COVID-19, the effect occurs in an uneven and often unpredictable way. More Articles from the Wealth of Geeks Network: Is Investing In Cryptocurrency IRAs A Good Idea? https://financialfreedomcountdown. com/cryptocurrency-ira/

405.624.2626 www.c21global.com 131 N. MaiN, Stillwater

DEFY MEDIOCRITY + DELIVER EXTRAORDINARY Linda Schmidt Broker

405.880.3048 Bailey Williams

405.714.4037

Property Manager

Alane LeGrand

405.747.6950 Judy Kasso

Rosetta Heppel

405.880.0869 Virginia Cussner 405.747.7601

Beverly Carter

405.743.9618 Diana Field

Sandy Blankinship 405.269.9523 Oscar Fortune

801.824.8166

405.747.4684 405.747.6042

Mike Branson

405.612.5347 Thomas Jenkins 405.780.3204

Tana Rutan

405.612.1496 David Heppel

405.269.6907


News Press stwnewspress.com

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www.stwnewspress.com

Stillwater

Stillwater NewsPress • Thursday, February 24, 2022

Find your next home with ease in Real Estate Weekly in print every Thursday, or online at


Yost Rd.

To Cimarron Turnpike

McMurtry Rd.

Chateau Ct.

Topaz Ave.

Amethyst Ave.

Quartz Dr. Duncan

Nancy Lee Dr.

Evergreen

Dr.

Ct.

Ma rie

Perkins Rd.

Knoblock St.

Star Dr.

Jardot Rd. Marine Rd. Burdick St. Manning St. Briarwood St.

22nd Av.

Wedgewood Ct. Wedgewood Dr.

Skyline Ln.

t. Lew is S

Lowry St.

Lowry St. 37th Av.

32nd Av.

35th Av. 36th Av.

37th Av.

44th Av.

Hunters Cr.

s Dr. Deerfield

Wild Turkey Pas

Vista Ct. Vista Ln.

Cottontail Ln.

Jardot Rd.

Perkins Rd.

Husband St.

Washington St.

Western Rd.

Sangre Rd.

Timberline Dr.

44th Av.

177

S. Westchester St.

Katy

Henderson St.

Hightower St.

Denver Ct. Denver St.

Mockingbird Ln. Collins Ct. Colby Lance

Villa Dr.

Drury Ln.

4th Av.

Eastgate St.

Crestwood Cr.

Raintree Av.

3rd Av. 4th Av.

Peach Tree Av. Stonegate Av.

19th Av.

34th Av.

Fern St.

Main St.

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Av.

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Lydia Ln.

Main St.

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Jardot Rd. 16th Av.

Payne St.

Dr.

177

31st Av.

Denver St. St.

Pinewood Cr.

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Oakwood Dr.

9th Av.

Hight

Payne St.

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Hall St.

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7th Av.

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Dr.

Pos

Jardot Rd.

Payne St.

Blair St.

4th Av.

25th Av.

Mar Vista St. 28th Av.

Timbercrest Dr. Timbercrest Cr.

4th Av.

24th Av.

26th Av.

ak

Blair St. Payne St.

Eastern Av.

Cottonwood Dr.

Crestwood Dr. Crestwood Ct.

tO

Wedgewood Dr.

Grandview St.

Manning St.

Donaldson St.

Stallard St.

Matthews Av. Virginia Av.

19th Av.

22nd Av.

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Springfield St.

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James Ct. Hartford St.

Lowry St.

Chester St.

Fern St.

Lowry St.

Chester St. Fern St.

17th Av. 18th Av.

Young St.

Skyline St.

Canyon Rim Dr.

Skyline St.

Briarwood Dr.

Grandview Ct. Grandview St.

Manning St.

Dr .

Manning St.

Berry Ct. Arrington Ct. Arrington Dr. Su

Dryden St.

Benjamin St.

Burdick St.

Perkins Rd. Lowry St.

Lewis St. Lewis St.

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Main St.

Husband Pl.

Walnut St.

15th Av.

Connell Ct. Connell Av.

12th Av.

13th Av. 13th Pl. 14th Av. 16th Av.

Payne St.

Dryden St.

Hartford St.

Hartford St. Dryden St. Redbud Ct.

Star St.

Hoke St. Husband St.

Masin St.

Duncan St. Duck St.

West Bl.

Duncan St.

West St.

Knoblock St.

Hester St.

Washington St.

Ramsey St.

Benjamin St.

Park

Pa rk Sta Dr. rD r.

Crescent Dr. Glenwoo d Dr.

Husband St.

Main St.

Duncan St.

West St. Duck St. West St. Duck St.

West St.

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Hester St.

Ramsey St.

Monroe St. Jefferson St.

Adams St.

Stanley St.

Gray St.

Pine St.

Blakely St. Teal St.

Bluestone St.

12th Av.

Pl.

8th Av.

8th Av.

11th Av.

Birchwood Ct.

Whitney Ct. McElroy Rd.

7th

7th Av.

9th Av. 10th Av.

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Young St.

Park Dr. Park Dr. Keller Dr.

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Ramsey St.

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Walnut St.

Orchard St.

McDonald St.

Willis St.

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5th Av.

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22nd Av. 23rd Av.

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Elmwood Cr.

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Brooke Av.

Sunrise Av.

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Virginia Av.

Virginia Av.

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Miller Av.

19th Av.

Arbor Cr.

24th Av.

Camden

7th Av.

12th Av.

11th Pl.

Forest Trail Ct.

44th Av.

Turtle Pond Ct.

7th Av.

k Ln.

Helena Hts.

5th Av.

Will Rogers Dr.

Dryden Cr.

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Fountain View Ct.

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Aloysius Cr.

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Scott Av.

University Av.

31st Av.

Woodland Trails Dr.

Cantwell Av.

Connell Av.

Connell Av.

Morrill Av.

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Hillside St.

Davinbrook Ln. Fiddlers Hill St. Berkshire Dr. Dublin Dr.

Shumard Ct. Oak St. W. Shumard Dr. Williamsfield

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Sangre Rd. Murphy St.

Squires St.

Charles Dr.

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Lincoln St.

Lincoln St. Lincoln Brooke Lincoln St. St. Hollow Ct. Monroe St. Monroe Monroe St. St. Jefferson St.

Liberty Ct.

Ivy Ct.

Cleveland St.

McFarland St.

McDonald St.

Willis St. Ridge Rd.

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Oak Ridge Dr. Basin Ridge Dr.

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Stoneridge Dr.

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Persimmo

Stillwater NewsPress • Thursday, February 24, 2022

Crestview Ct. Cowboy Ct. High

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Canterbury

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11th Av.

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Farm Av. Olive Ln. Drummond Av. Athletic Av. Monticello Dr.

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5th Av.

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4th Av.

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10th Av.

8th Av.

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Miller Av.

Virgina Av.

8th Ct. 9th Ct. Trenton Av.

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1st Av.

4th Av.

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McElroy Rd.

Farm Av.

3rd Pl.

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Harned Av.

Mohawk Av.

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Swim Av.

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Tyler Av.

Eastland Dr.

Wiley St.

te Sta

Rutledge Dr.

Oak Crest Rd.

3rd Av.

Boomer Lake

Osage Dr.

Brooke Moore Franklin

Vena Ln.

Windsor Cr.

Parkway Dr.

Liberty Rd. Preston Av.

Hereford Dobi Ln.

Airport Rd.

Newman Av.

Hillcrest Av.

Lakeridge Av.

Lakeview Rd.

Eskridge Av.

Dr.

Tobacco Rd.

Preston Ln.

State Ln.

Lisa Ct. Lori Ct.

Av.

177

Harned Av. Madison Ct.

Thomas Av. Frances Av.

Memory Ln. Country Ln.

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ore

. Dr

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w illo

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Stillwater Municipal Airport

Richmond Rd.

Britton Ct. B Dr. ritton Greenbriar Cr. Dr. Au d Ma ene D rieD r. r. Greenvale Ct. Ct. side rook

Golf Dr.

Falls Dr.

There are no open houses scheduled for this weekend.

gate Dr .

Hartford St. Dryden St. Benjamin St. Burdick St. Burdick St. Berry St. Arrington St. Marshall St. Doty St. Blair St. Grandview St.

Stonecrest Ct.

Hartford

Richmond Hill Rd.

Washington St. Garfield St.

Hunters Ridge

Stonecrest Ave.

Lynn Ln.

North

Benjamin

Husband Pl. Northgate Dr.

St.

Richmond Rd.

Park Pl. Tower Park Dr.

Richmond Hill Ct.

nd Husba

• Open Houses may be canceled in the case of inclement weather. If you have questions, please call the hosting REALTOR®.

r.

Ct.

yon

Can

Chateau Dr.

Chateau Pl. Peaceable Acres Rd.

• All Open Houses are Sunday unless otherwise indicated.

lD mil

Burris Rd.

Burris Rd. 177

Week of Sunday, Feb. 27, 2022

Lakeview Rd.

Jardot Rd.

OPEN HOUSEMap

Yost Rd.

Perkins Rd.

Yost Rd.


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