Friday, November 4, 2011

Negotiate Your Best House Buy with a Realtor of your Choice

Negotiate Your Best House Buy

Article From
By: G. M. Filisko
Published: June 04, 2010... and still applies today

Keep your emotions in check and your eyes on the goal, and you'll pay less when purchasing a home.

Buying a home can be emotional, but negotiating the price shouldn't be. The key to saving money when purchasing a home is sticking to a plan during the turbulence of high-stakes negotiations. A real estate agent who represents you can guide you and offer you advice, but you are the one who must make the final decision during each round of offers and counter offers.

Here are six tips for negotiating the best price on a home

1. Get prequalified for a mortgage

Getting prequalified for a mortgage proves to sellers that you're serious about buying and capable of affording their home. That will push you to the head of the pack when sellers choose among offers; they'll go with buyers who are a sure financial bet, not those whose financing could flop.

2. Ask questions

Ask your agent for information to help you understand the sellers' financial position and motivation. Are they facing foreclosure or a short sale? Have they already purchased a home or relocated, which may make them eager to accept a lower price to avoid paying two mortgages? Has the home been on the market for a long time, or was it just listed? Have there been other offers? If so, why did they fall through? The more signs that sellers are eager to sell, the lower your offer can reasonably go.

3. Work back from a final price to determine your initial offer

Know in advance the most you're willing to pay, and with your agent work back from that number to determine your initial offer, which can set the tone for the entire negotiation. A too-low bid may offend sellers emotionally invested in the sales price; a too-high bid may lead you to spend more than necessary to close the sale.

Work with your agent to evaluate the sellers' motivation and comparable home sales to arrive at an initial offer that engages the sellers yet keeps money in your wallet.

4. Avoid contingencies

Sellers favor offers that leave little to chance. Keep your bid free of complicated contingencies, such as making the purchase conditional on the sale of your current home. Do keep contingencies for mortgage approval, home inspection, and environmental checks typical in your area, like radon.

5. Remain unemotional

Buying a home is a business transaction, and treating it that way helps you save money. Consider any movement by the sellers, however slight, a sign of interest, and keep negotiating.

Each time you make a concession, ask for one in return. If the sellers ask you to boost your price, ask them to contribute to closing costs or pay for a home warranty. If sellers won't budge, make it clear you're willing to walk away; they may get nervous and accept your offer.

6. Don't let competition change your plan

Great homes and those competitively priced can draw multiple offers in any market. Don't let competition propel you to go beyond your predetermined price or agree to concessions-such as waiving an inspection-that aren't in your best interest.

More from HouseLogic

Determine how much mortgage you can afford (

Keep your home purchase on track (

Plan for a stress-free home closing (

Other web resources

Develop a homebuying strategy (

G.M. Filisko is an attorney and award-winning writer who has to remind herself to remain unemotional during negotiations. A frequent contributor to many national publications including, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Wednesday, August 10, 2011

Low Rates to Remain Through Mid-2013

The Federal Open Market Committee yesterday voted to keep the target range for the federal funds rate at zero to 1/4 percent.  The FOMC expects to maintain the ultra-low rates at least through mid-2013. 

That's good news to buyers searching for home mortgages on home for sale!

Tuesday, July 26, 2011

Housing Trends eNewsletter

Click on the link below to view the newest version of what's happening in todays local markets? If you would like to talk to me in person about what is for sale, or has sold, in the ways of homes or land in the McClain County area... please contact me at 405-249-2810

Tuesday, July 19, 2011

Land for Sale! 160 Acres Perfect for Hunting and Recreation

Just Listed 160 acre property located 2 miles South of SH 74B on Portland Avenue near Cole, Oklahoma.  All kinds of terrains... meadow clearings, treed forrest, ponds, and trails for hunting, fishing or biking.

This real estate tract is located only 40 minutes from Oklahoma City and centrally located to Blanchard, Washington, Dibble, Newcastle, Purcell or Norman.  The sellers will entertain any cash offer.  Contact Deborah Allison Real Estate today at email or phone.

Tuesday, June 14, 2011

Interest Rates are Going to Go Up...

Now is the time to purchase!  Don't wait... because I just did a loan for 4.5% on a small $62,500 dollar home.  Wow!  I wished I was moving so I could get in on this!

The Federal Reserve purchases U.S. Treasury debt each business day.  This has kept the demand for U.S. treasuries higher than it would normally be, and as a result, has kept all interest rates lower than normal. 

This program is to purchase this notes will be ending in June... the interest rate is bound to go up.  So, don't wait to purchase a home for sale. I think 4.5%  is the lowest we will see for 2011, for a 30 year, federally backed mortgage. 

I've got several cute homes you can call about!

Wednesday, May 25, 2011

New Land Listing for Sale in Goldsby, Oklahoma

Location matters when searching for the perfect spot to build your new home.  This 10 acre tract is located just 8 minutes to Norman, on a blacktop state highway, has water available at road and is in Washington School District.

A perfect building location for new construction or mobile home.  No restrictions on home size or livestock.  These type of acreages are hard to find so,call or email for price and showing today.

Tuesday, May 10, 2011

Your Source for Housing Information

Deborah Allison is a member of the NATIONAL ASSOCIATION OF REALTORS.  With this NAR membership, I can provide a valuable monthly newsletter brought to you by HouseLogic for your home or land for sale searches.

Click here for newsletter

HouseLogic is a free source of information and tools from the NATIONAL ASSOCIATION OF REALTORS® with content covering home improvement, maintenance, taxes, finance, insurance and even ways you can get involved in and enrich your community.

Monday, May 2, 2011

Builders Lot Now Available in Purcell

Crown Heights Addition

FOR SALE, 50 X 100 tract lots available for your new construction home in the Crown Heights Addition in Purcell, Oklahoma.  Lots are located off North 9th street, which are close to the new high school.  Priced at $18,000 each, or make an offer.

Friday, April 29, 2011

200 Acres of Land for Sale

Buy all 200 or divide to 60, 80 or 120 acres.  Quick access to I-35 in the Goldsby, Oklahoma area.

80 of Land for Sale in Wayne, Oklahoma

Newer 4 bedroom, 3 bathroom home on 80 acres of land for sale just East of exit 86 and I-35 in the Wayne, Oklahoma Area.  Call Deborah Allison at 405-249-2810 today for new reduced price and appointment. 

Wednesday, April 20, 2011

For Sale By Owner

FSBO at 2353 Blue Creek Drive, Norman, OK 73071 is a great location and neighborhood addition!  Selling this AS-IS 1716 sq. ft., 3 bedroom, 2 bath home on 2.26 acres of land for only $85,000.  Don't walk property unless your assisted by calling ...

Deborah at 405-249-2810

Friday, April 15, 2011

Check out Oklahoma Newest Market Updates for April, 2011

Whether you are buying, or selling your home on land for sale here in central, Oklahoma...
click on the newsletter link below for tons of real estate information you won't want to miss out on.

Thursday, April 14, 2011

Cell Phone Numbers Go Public This Month

Cell Phone Numbers Go Public this month.

REMINDER..... all cell phone numbers are being released to telemarketing companies and you will start to receive sales calls.  You will be charged for these calls.

To prevent this, call the following number from your cell phone: 888-382-1222.

It is the National DO NOT CALL list It will only take a minute of your time.. It blocks your number for five (5) years. You must call from the cell phone number you want to have blocked. You cannot call from a different phone number.

HELP OTHERS BY PASSING THIS ON .. It takes about 20 seconds.

An Exclusive Buyer Agent

If you're looking to purchase a home for sale, and require or desire professional real estate services as a buyers agent, please contact me for consultation and fees.

An exclusive buyers agent works solely for the buyer... much as an attorney works for a client when being represented.  A buyers agent provides fiduciary duties of loyalty and would not allow a conflict of interest in a purchase of real estate.

Advocate vs Assisting.  In simple terms, it's the difference of a Transaction Broker and a Single Party Broker, (single party broker is a Buyers Agent), is being an advocate for their client vs assisting customers to the transaction.  All Realtors treat parties honestly.  All Realtors will assist buyers to a successful home purchase with out fees. 

The misconception is this... because the fees a Realtor receives are based on commissions from the seller... a buyer feels they are not being represented. 

Please contact me if you have concerns about how you want to be served.  I take concern and care with both buyer and seller.  My professional services can be explained in detail, and you will be very happy making a knowledgeable decision about purchasing the biggest asset in your life... your home.

Wednesday, April 13, 2011

FHA Is Raising Mortgage Insurance Premiums

April 17th is the deadline for your lenders to order FHA appraisals before the monthly MIP increases to 1.15%.  If your buyers are getting an FHA loan, you might want to check with their lender to see if the appraisal as been ordered.  The Monthly Mortgage Insurance Premium increases with case numbers assigned on or after April 18, 2011.

City Wide Open House in Purcell and Wayne

Many, many homes for sale in Purcell and Wayne, Oklahoma this Sunday, April 17th, 2011, from 1 to 4 pm.  A variety of two, three and four bedroom homes from all price ranges will be open and no appointment necessary.  So, if you need information and help for a purchase... you know who to call? Deborah Allison of course!

Tuesday, April 12, 2011

Open Houses in Purcell, Oklahoma Today

Call for your personal appointment, 405-249-2810, for Home Tours available today in Purcell, Oklahoma
  • 1019 N London
  • 323 Kenna
  • 808 Carrie Court
  • 926 9th
  • 429 W. Polk
  • and 508 S. Scott in Wayne, OK
Most of these homes are listed with Dillard Group Real Estate and the last two with Deborah Allison Real Estate.  You will find a variety of styles and price ranges of houses for sale.  Purcell is centrally located in Oklahoma and is only minutes to Oklahoma City, Norman or South to Paulsvalley.

Wednesday, April 6, 2011

Just Sold More Land in Washington Area

For buying property, the saying is... "they aren't making any more of it" 

Deborah Allison Real Estate just sold three nice tracts of land around the Washington, Oklahoma area.  A 40, a 37.73 and a 20 acre tract have all closed.  I have more listings available for sale!  Let me try to find something for you!

Thursday, March 31, 2011

Home Loan Modification Information

This wonderful person has taken the time to blog about her efforts to help consumers in this difficult situation.  Click the link below to follow her experience.

Tuesday, March 29, 2011

Loan Programs for Home Mortages

If purchasing a primary residence... An FHA, USDA RD, VA or Conventional loan program will be your  mortgage choice on a home for sale.  There are many more loan packages are available within each program.  So, call me... and I can refer you to a lender, for a pre-qualify application to find out if you meet the quidelines for one of these homeownership loans.

FHA, Federal Housing Administration requires at least 3.5% down payment from buyer.  (3.5% can be gifted from relative).

VA, Veterans Administration is for the military and spouces.  No money required out of pocket.

USDA RD, United States Department of Agricultural Rural Development is the best loan on the market! 100% financing and no mortgage insurance.

Convention loans usually require 20% down and have much less guidelines and restrictions to follow.

Buyers Agent to Purchase Real Estate

Do you need a real estate agent to guide you, look after you, be and advocate for you?  I can provide those services in the purchase of your next home.  Let me explain the misunderstood differences in the relationships for a Real Estate Agent or Realtor.

A Single Party Broker is a Realtor or Agent, who has been sought out to perform advocating duties for the buyer who contracts with them.  These Realtors/Agents will require a pre-signed contract spelling out the terms of finding a home exclusively for the buyer.  Compensation may be required to locate the home, and be an advocate for the buyer - much like an attorney.  A Single Party Broker works and executes for the buyers interest only.

A Transaction Broker is a Realtor or Agent, who assist both a buyer or a seller to the mutual agreement of buying and selling a home.  The Realtor/Agent will provide information, by following instructions from both parties, to successfully close the home purchase transaction.  No contract or compensation is normally required, (except for the listing agreement for the property).

If you would like to discuss this relationship more in-depth... please contact me.  I'd be happy to help you decide what's best for you.

Home for Sale in Wayne, Oklahoma

Why look for a house to purchase in Norman, OK, when you can purchase more for your dollars in Wayne... and buy better quality!  508 S. Scott in Wayne is $20 cheaper per square foot than the same size home for sale in Norman.  Buy your college students home here, and commute to the University of Oklahoma.  Call for details and showing!
  • 3 Bedrooms
  • 1.5 Bathroom
  • 2 Living Areas
  • Utility Room
  • Covered Storage
  • Fenced Back Yard
  • Enclosed Patio

Friday, March 11, 2011

Housing Trends Information

Click on the Link below to view the most recent and useful information, you, the consumers needs when buying or selling your home.

Click here to view Housing Trends eNewsletter

Tuesday, March 8, 2011

Homes for Sale in Purcell and Wayne and Washington, Oklahoma

 4 Bedroom, 3.5 Bath and 2 Living Area Home for Sale on 80 Acres
  • 34584 150th, Wayne, OK  73095
  • Wayne Schools
  • 3408 Square Feet of Living Space
  • 4 Bedrooms
  • 3.5 Baths
  • Second Living Area or Bonus Room is 24 X 24 with Half Bath
  • 80 Acres... Horse Training, Cattle Ranching, or Farm Living
  • Well, Septic and Commerical Back Up Generator
  • Click this link to view more details
Remodeled, 3 Bedroom, 2.5 Bath and 2 Living Areas on City Lot
  • 508 S. Scott, Wayne, OK 73095
  • Wayne Schools
  • 1340 Square Feet of Living Space
  • 3 Bedrooms
  • 2.5 Baths
  • Second Living Area
  • 420 S.F. Indoor Outdoor Screened Patio
  • Privacy Fenced Back Yard
  • Click this link to view more details
Home for Sale in Purcell, Oklahoma Additon on City Lot
  • 1823 Scott, Purcell, OK  73080
  • Purcell Schools
  • 2750 Square Feet of Living Space plus Double Car Garage
  • 3 Bedrooms
  • 3 Full Baths
  • Office/Formal Dining Area with French Doors
  • Large Bonus Room, possible 4th Bedroom, Game Room
  • Privacy Fenced Back Yard
  • Close to Hospital, Grocery and Shopping
  • Click this link to view more details
Starter or First Time Home Buyer House for Sale in Purcell, Oklahoma on City Lot
  • 429 W. Polk, Purcell, OK  73080
  • Purcell Schools
  • 1587 Square Feet of Living Space
  • 3 Bedrooms
  • 1 Bath
  • 2 Living Rooms
  • Huge Bonus Room/Utility Room
  • Privacy Fenced Back Yard with Storage Building
  • Click this link to view more details
Custom Luxury Home with Shop on 80 Acres for Sale in Goldsby, Oklahoma
  • 3187 SE 12th Ave., Goldsby, Oklahoma  73093
  • Washington Schools
  • 4951 Square Feet of Living Space
  • 5 Bedrooms
  • 5 Full Baths
  • 4938 S.F. Bonus Room
  • Chef's or Gourmet Kitchen
  • 3500 Square Foot Shop
  • 1500 Square Foot Apartment
  • 80 Acre Tract for Equine, Cattle Ranching or Personal Business Use

Monday, February 21, 2011

Cost vs Value for Remodeling

The national averages for 2010 and 2011 are in for hypothetical estimates for home improvement. 

With all the homes available on the market... a seller has to make his home more appealing than the house next door or around the neighborhood.

Here's a general break down cost recouped by the new construction, remodel or update.  These figures are estimates.  Remember that real estate is local to your area and may not reflect your exact location or scope of a project quality and finishes.

Bathroom 62%
Bedroom 71% 
Wood Deck 72%
Garage 66%
Kitchen Remodel 62%
Entry Door 65%
New Roof 63%
New Windows 75%

Monday, February 7, 2011

Before You Buy a Home...

Before you buy a home... way before

...think about getting your finances and credit score in order.  It can take anywhere from 3 to 6 months to have an entry recorded on your credit history.  It will take some time to save the extra dollars needed for a down payment. will want to visit a great lender so you're prepared ahead of time to make an offer on a home.  Last, you will need a wonderful Realtor to explain this whole, complicated process. Don't go at this alone without a Realtor who does this everyday. 

Below is just a few reasons to think ahead...
  • Credit Scores of at least 620 will be enough to get you qualified for a home mortgage but... look to put more cash "upfront" if it's lower than 620.  The better your credit scores... the less cash required and the lower your monthly payments can be.  660 to 680 is a nice range to be when trying to purchase your home.
  • For an FHA-insured loan... your home payment can't exceed 31 percent of your monthly income... for a Conventional loan, a safe formula is 28 percent.
  • Save for your down payment anywhere from 3.5 percent for an FHA to 20 percent for a conventional loan. 
  • Bond money and down payment assistance are programs for some qualified buyers.  Even sellers may agree to assist with a buyers down payment.
  • Documentation will be required by your lender.  They will want 2 years of tax returns, 3 months of bank statements and the most recent 30 days of employers paycheck stubs.
So, call me first... then I will connect you with a great lender. We both will take you through this purchase, or... get you ready for the very near future purchase with our experience!

Thursday, February 3, 2011

Opps... I Called the Name on the Real Estate Sign

Some of my best and closest friends share their excitement with me when they purchase a new home to live, or land to build on.  I'm excited for them too!  But, then I ask why didn't they call me?  The answer is...

"Well... I called the name on the real estate sign." 

They thought they had to call that Realtor or Agent, on the sign to get the information and help to purchase that real estate.

Please call me even when it's listed with another company.  That's what I do for my new customers, clients and my friends.  I expect calls after 5 and on weekends.  That's how my business is geared.  People want information on homes and land for sale when they are driving around or internet searching.

So... call me first when your looking to purchase a new place... and
NOT THE NAME ON THE SIGN. You'll be happy to have me help through the whole process of a real estate transaction

Call, Text or Email 405-249-2810/

Tuesday, January 18, 2011

2011 Interest Rate Forecast

My best mortgage broker says that the 4.2 percent 30 year fixed mortgage rates that some borrowers were lucky enough to snag in 2010 are now history.  I believe that.

The good news is mortgage rates will still be historically low, in the 5.5% rates for perhaps the remainder of 2011. 

The bad news is 2011 will be another volatile year for real estate sales with homeowners houses not selling, do to lack of "able" and willing home buyers to make purchase. 
The lack of these buyers job security, confidence in the economy, the ability to produce a good credit score, and the down payment requirement to purchase from a lender, will keep buyers from leading this economy out of the housing recession.

Is now a good time to buy?  You bet!  If you have job security and funds for down payments.  Call me!

Buying Bank Owned Properties (REO)

So you would like to buy a bank owned property?

You see the informercials... and you think you can fix up a distressed home, (and sell it), before you pay your first loan payment on the money you borrowed to fix it up! Or... your relatives friends just "flipped" a fixer upper, and you think you can do the same.  Well, it sounds great... but you should look up some facts and get prepared with a good, experienced Realtor.

REO vs. Foreclosure

An REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction. Most foreclosure auctions do not even result in bids at the court house.  After all, if there was enough equity in the property to satisfy the loan, the owner would have sold the property and paid off the bank. That is why the property ends up at a foreclosure or trustee sale.

Foreclosure sales begin with a minimum bid that includes the loan balance, any accrued interest, plus attorney's fees and any costs association with the foreclosure process. In order to bid at a foreclosure auction, you must have a cashier's check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in "as is" condition, which may include someone still living in the property. There may also be other liens against the property that may not be satisfied and will go with the property you just purchased.

Since what is owed to the bank is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property "reverts" to the bank. It becomes an REO, or "real estate owned" property.

REO Properties For Sale

The bank now owns the property and the mortgage loan no longer exists. The bank will handle the eviction, if necessary, and may do some repairs. They will negotiate with the IRS for removal of tax liens and pay off any homeowner’s association dues. As a purchaser of an REO property, the buyer should buy a title insurance policy and the opportunity to investigate the property.

A bank owned property might not be a great bargain. Do your homework before making an offer. Make sure that the price you pay (if you are successful) is comparable to other homes in the neighborhood. Consider the cost of renovation, including time to complete them. Don’t get caught up in a ‘bidding war’ and pay over market value. It’s an old myth that “foreclosures” are a bargain.

How Banks Sell REO's

Each bank/lender works differently and requires different paperwork. They want to get the best price possible and have no interest in "dumping" real estate cheaply. Generally, banks have an entire department set up to manage their REO inventory.

Once you make an offer to purchase, banks generally present a "counter-offer." It may be at a higher price than you expect, but they have to demonstrate to investors, shareholders and auditors that they attempted to get the highest price possible. You should plan to counter-offer.

Your offer or counter-offer will probably have to be reviewed and approved by several individuals and companies. Even once an offer is accepted, the bank may insert wording like “..subject to corporate approval.  The waiting time can vary from 5 to 20 days.  Short sales can go out months.

Property Condition

Banks always want to sell a property in "as is" condition. They may allow you to get all the inspections you want (at your expense), but they may not agree to do any repairs, (and getting a 30 year mortgage is next to impossible on an AS-IS property).

Even though you agreed to AS-IS your might ask for an inspection contingency period that allows you to terminate the sale if the inspections reveal unanticipated damages But... an REO will most likely not accept an contingency to inspections.  So, AS-IS means AS-IS.

If your lucky and did get the clause accepted for for inspections...sometimes they will re-negotiate to save the transaction instead of putting the property back on the market, but do not take it for granted.  It rarely happens.

Banks will send thier own addendums for buyer to sign for an AS-IS offer is just like you see the property. They want a nice clean AS-IS contract with no extra clauses.  A cash offer gets you the property, and a bank loan contingency will not.  There is only a few exceptions on 30 year mortgages on an REO. Talk to your realtor and heed their advice and experience.

Making an Offer

Offers are usually faxed to the bank. The listing agent needs your originals. There is no formal presentation. Keep in mind: nothing happens evenings and weekends (banks are closed).

Since there is no face-to-face presentation to the bank, provide the listing agent with proof of cash funds letter, a commitment to loan from your local banker, or a pre-approval letter for an REO rehabilitation loan. Make your offer easy to accept.

Hopefully these tips will manage your expectations. Remember that REO's can sell at pretty close to full market value when newly on the market and are not the deals presented on late night television.